T Go Global Development - World Bankdocuments1.worldbank.org/curated/ru/858571468137998042/... · 2016. 7. 10. · T Global Development Finance ISBN-0-8213-5740-9 THE WORLD BANK 1818

T Global DevelopmentFinance

Global DevelopmentFinance

ISBN-0-8213-5740-9

THE WORLD BANK

1818 H Street, NWWashington, DC 20433 USATelephone: 202 473-1000Facsimile: 202 477-6391Internet: www.worldbank.orgE-mail: [email protected]

Global D

evelopment Finance

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ary Tables

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T H E W O R L D B A N K

Harnessing Cyclical Gains for Development

2004

The external financing environment facingdeveloping countries has brightened. In

2003, as global growth gained momentum, pricesfor key commodities rose, financial markets recovered, interest rates remained low, and privatecapital flows to developing countries increased to $200 billion—their highest level in five years.Harnessing these gains to promote long-terminvestment and growth is the key theme of Global Development Finance 2004.

Much of the developing world still has difficulty accessing the international capital markets.International investment in developing-countryinfrastructure has declined dramatically since 1997 and—with the exception of trade finance—private capital flows remain heavily concentrated in specific countries and regions.Although officialaid flows have increased, they remain well belowthe levels required to meet the MillenniumDevelopment Goals.

In several developing countries, there has been alarge scale build-up in official reserves, much ofwhich has been invested in the financial markets ofadvanced economies, especially the United States—epitomizing the diverse landscape of contemporarydevelopment finance, as well as intricate linkagesbetween exchange rates, trade and capital flows, andthe growing interdependence between developedand developing countries.

Global Development Finance 2004, I:Analysis andSummary Tables is the World Bank’s annual review ofrecent trends in and prospects for financial flows todeveloping countries. It highlights sources of vul-nerability and risk in the recovery in private flows,

notably the likely increases in interest rates in theadvanced economies, volatility in major currenciesand financial markets stemming from large globalcurrent-account imbalances, and fears of policyslippages in macroeconomic management in developing countries. It also contains the WorldBank’s assessment of the global outlook in light of the recent economic recovery.

Global Development Finance 2004, II: Summary andCountry Tables includes a comprehensive set of tablesof data for 136 countries that report under theWorld Bank Debtor Reporting System, as well assummary data for regions and income groups. Itcontains data on total external debt stocks andflows, aggregates, and key debt ratios, and provides adetailed, country-by-country picture of debt. GlobalDevelopment Finance 2004 debt data are also availableon CD-ROM, with more than 200 historical timeseries from 1970 to 2002, and country group estimates for 2003.

With analysis and data spanning from short-termtrade to long-term infrastructure finance, GlobalDevelopment Finance 2004 is unique in its breadth of coverage of the issues related to internationaldevelopment finance. By providing a compre-hensive review of recent trends in and prospects for all development-related flows (including debt,equity, official aid, and workers’ remittances),Global Development Finance 2004 enables government officials, economists, investors, financial consultants,academics, and policymakers in the developmentcommunity to better understand, manage, and promote the key challenge of financing development in today’s globalized environment.

For more information on the analysis, please seewww.worldbank.org/prospects; further details about theCountry Tables can be found at www.worldbank.org/data.For general and ordering information, please visit the World Bank’s publications website atwww.worldbank.org/publications, or call 703-661-1580;within the U.S., please call 1 (800) 645-7247.

I I : S U M M A R Y A N D C O U N T R Y T A B L E S

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Administrator

28810

Global Development FinanceHarnessing Cyclical Gains for Development

II: Summary and Country Tables

Global Development FinanceHarnessing Cyclical Gains for Development

T H E W O R L D B A N K

I I : S U M M A R Y A N D C O U N T R Y T A B L E S 2004

© 2004 The International Bank for Reconstruction and Development/The World Bank1818 H Street, NWWashington, DC 20433Telephone 202-473-1000Internet www.worldbank.orgE-mail [email protected]

All rights reserved1 2 3 4 06 05 04

This volume is a product of the staff of the World Bank.The findings, interpretations, and conclusions expressed herein do not necessarily reflect the views of the Board of Executive Directors of the World Bankor the governments they represent.

The World Bank does not guarantee the accuracy of the data included in this work.The boundaries, colors,denominations, and other information shown on any map in this work do not imply any judgment on thepart of the World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.

Rights and Permissions

The material in this work is copyrighted. Copying and/or transmitting portions or all of this work withoutpermission may be a violation of applicable law.The World Bank encourages dissemination of its work andwill normally grant permission promptly.

For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA;telephone: 978-750-8400; fax: 978-750-4470; www.copyright.com.

All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher,World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2422; e-mail:[email protected].

Cover photo of women building a road in Indonesia. ©Nik Wheeler/CORBIS.Cover design by Fletcher Design.

ISBN 0-8213-5741-7ISSN 1020-5454

Table of Contents

Preface vii

Methodology ix

Sources and definitions xiii

Country groups xxivRegional groups Income groups

Summary tables xxvii

Regional and income group aggregate tables 1

Country tables 39Albania 40Algeria 44Angola 48Argentina 52Armenia 56Azerbaijan 60Bangladesh 64Belarus 68Belize 72Benin 76Bhutan 80Bolivia 84Bosnia and Herzegovina 88Botswana 92Brazil 96Bulgaria 100Burkina Faso 104Burundi 108Cambodia 112Cameroon 116Cape Verde 120Central African Republic 124

v

Chad 128Chile 132China 136Colombia 140Comoros 144Congo, Democratic Republic of 148Congo, Republic of 152Costa Rica 156Côte d’Ivoire 160Croatia 164Czech Republic 168Djibouti 172Dominica 176Dominican Republic 180Ecuador 184Egypt, Arab Republic of 188El Salvador 192Equatorial Guinea 196Eritrea 200Estonia 204Ethiopia 208Fiji 212Gabon 216Gambia, The 220Georgia 224Ghana 228Grenada 232Guatemala 236Guinea 240Guinea-Bissau 244Guyana 248Haiti 252Honduras 256Hungary 260India 264Indonesia 268Iran, Islamic Republic of 272Jamaica 276

G L O B A L D E V E L O P M E N T F I N A N C E 2 0 0 4

Jordan 280Kazakhstan 284Kenya 288Kyrgyz Republic 292Lao People’s Democratic Republic 296Latvia 300Lebanon 304Lesotho 308Liberia 312Lithuania 316Macedonia, former Yugoslav Republic of 320Madagascar 324Malawi 328Malaysia 332Maldives 336Mali 340Mauritania 344Mauritius 348Mexico 352Moldova 356Mongolia 360Morocco 364Mozambique 368Myanmar 372Nepal 376Nicaragua 380Niger 384Nigeria 388Oman 392Pakistan 396Panama 400Papua New Guinea 404Paraguay 408Peru 412Philippines 416Poland 420Romania 424Russian Federation 428Rwanda 432

Samoa 436São Tomé and Principe 440Senegal 444Serbia and Montenegro 448Seychelles 452Sierra Leone 456Slovak Republic 460Solomon Islands 464Somalia 468South Africa 472Sri Lanka 476St. Kitts and Nevis 480St. Lucia 484St. Vincent and the Grenadines 488Sudan 492Swaziland 496Syrian Arab Republic 500Tajikistan 504Tanzania 508Thailand 512Togo 516Tonga 520Trinidad and Tobago 524Tunisia 528Turkey 532Turkmenistan 536Uganda 540Ukraine 544Uruguay 548Uzbekistan 552Vanuatu 556Venezuela, República Bolivariana de 560Vietnam 564Yemen, Republic of 568Zambia 572Zimbabwe 576

Country notes 581

vi

Preface

The print edition of Global DevelopmentFinance (GDF) consists of two volumes:Analysis and Summary Tables and Sum-

mary and Country Tables. Analysis and SummaryTables contains analysis and commentary on recentdevelopments in international finance for devel-oping countries, together with summary statisticaltables for selected regional and analytical groupscomprising 135 debt-reporting developing countriesand Saudi Arabia.

Summary and Country Tables contains statis-tical tables on the external debt of the 135 coun-tries that report public and publicly guaranteeddebt under the Debtor Reporting System (DRS).Also included are tables of selected debt and re-source flow statistics for individual reportingcountries as well as summary tables for regionaland income groups.

Earlier this year, country tables and summarytables were also made available online (GDFOnline).

For the convenience of readers, charts on pagesxxi to xxiii summarize graphically the relation

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between debt stock and its components, the com-putation of net flows, aggregate net resource flows,and aggregate net transfers; and the relation be-tween net resource flows and the balance of pay-ments. Exact definitions of the terms used in theSummary and Country Tables volume of GDF arefound in the Sources and Definitions section.

The economic aggregates presented in thetables are prepared for the convenience of users.Although debt indicators can give useful informa-tion about developments in debt-servicing capacity,conclusions drawn from them will not be valid un-less accompanied by careful economic evaluation.

The macroeconomic information provided isfrom standard sources, but many of them are sub-ject to considerable margins of error, and the usualcare must be taken in interpreting the indicators.This is particularly the case for the most recentyear or two, when figures are preliminary and sub-ject to revision.

Global Development Finance 2004 on CD-ROM contains a database of 217 time series indi-cators, covering the years 1970 to 2002 in most

This volume was prepared by the Financial Data Team of the Development Data Group, led byIbrahim Levent. The team consisted of Vinoda Basnayake, Nanasamudd Chhim, Mahyar Eshragh-Tabary, Nevin Fahmy, Kabinah Fofanah, Shelley Fu, Gloria Moreno, Olha Pryymak, Mohey Ragab,and Alagiri Venkatesan. The team was assisted by Rosario Alipio. Soong Sup Lee provided themacroeconomic data and Abdolreza Farivari provided systems support. Many others inside theWorld Bank provided helpful input, especially the staff of the Development Prospects Group, KevinJ. Barnes, Mansoor Dailami, Himmat S. Kalsi, Eung Ju Kim, Dilip Kumar Ratha, William Shaw,Punam Chuhan of the Global Monitoring Secretariat, the staff of the HIPC Group—led by VikramNehru, and the country economists who reviewed the data. The work was carried out under themanagement of Shaida Badiee.

The production of this volume was managed by Richard Fix. The CD-ROM and database wereprepared by William Prince.


cases, and to 2012 for “pipeline” data. It also con-tains the full contents of the print version of theSummary and Country Tables volume. Text pro-viding country notes, definitions, and source notesis linked to each table. The general cutoff date fordata is December 2002.

Definitions of terms used in the Summary andCountry Tables volume of GDF are found in theSources and Definitions section. The economic ag-gregates presented in the tables are prepared forthe convenience of users. Although debt indicators

can give useful information about developmentin debt-servicing capacity, conclusions drawnfrom them will not be valid unless accompaniedby careful economic evaluation. The macro-economic information provided is from standardsources, but many of the indicators are subjectto considerable margins of error, and the usualcare must be taken in interpreting them. This isparticularly so for the most recent year or two,for which figures are preliminary and subject torevision.

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Methodology

The World Bank is the sole repository forstatistics on the external debt of developingcountries on a loan-by-loan basis. The

Debtor Reporting System (DRS), set up in 1951 tomonitor these statistics, is maintained by the staffof the Financial Data Team (FIN), part of the Devel-opment Data Group of Development Economics.

Methodology for aggregating data

Using the DRS data, in combination with infor-mation obtained from creditors through the

debt data collection systems of other agencies suchas the Bank for International Settlements (BIS) andthe Organisation for Economic Cooperation andDevelopment (OECD), the staff of the FinancialData Team estimate the total external indebted-ness of developing countries. The data are alsosupplemented by market sources and estimatesmade by country economists of the World Bankand desk officers of the International MonetaryFund (IMF).

Converting to a common currencySince debt data are normally reported to theWorld Bank in the currency of repayment, theyhave to be converted into a common currency(usually U.S. dollars) to produce summary tables.Because flow data are converted at annual averageexchange rates and stock data at year-end ex-change rates, year-to-year changes in debt out-standing and disbursed are sometimes not equalto net flows (disbursements less principal repay-ments); similarly, changes in debt outstanding in-cluding undisbursed debt differ from commitmentsless repayments. Discrepancies are particularly

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significant when exchange rates have movedsharply during the year; cancellations and resched-ulings of other liabilities into long-term publicdebt also contribute to the differences.

Public and publicly guaranteed debtAll data related to public and publicly guaranteeddebt are from debtors except for lending by somemultilateral agencies, in which case data aretaken from the creditors’ records. These creditorsinclude the African Development Bank, the AsianDevelopment Bank, the Central Bank for Eco-nomic Integration, the Inter-American Develop-ment Bank, and the International Bank for Re-construction and Development (IBRD) and theInternational Development Association (IDA).(The IBRD and IDA are components of theWorld Bank.)

Starting with the 1988–89 edition of WorldDebt Tables (as this book was previously titled),all data pertaining to World Bank loans from 1985onward are recorded at their current market value.Starting with the 1991–92 edition, all data per-taining to Asian Development Bank loans from1989 onward are recorded at their current marketvalue. Starting with the 1998 edition, all data per-taining to African Development Bank and AfricanDevelopment Fund loans from 1997 onward arerecorded at their current market value as well.

Private nonguaranteed debtThe DRS was expanded in 1970 to incorporateprivate nonguaranteed long-term debt. Reports,submitted annually, contain aggregate data fordisbursed and outstanding debt, disbursements,principal repayments, interest payments, princi-pal and interest rescheduled for the reporting


year, and projected payments of principal and in-terest. Data are usually presented in dollars, andcurrency conversion is not necessary. A few re-porting countries choose to provide data on theirprivate nonguaranteed debt in the loan-by-loanformat used for reporting public and publicly-guaranteed debt. In those cases the currency con-version and projection methodology just describedis used.

Although the reporting countries fully recog-nize the importance of collecting data on privatenonguaranteed debt when it constitutes a signifi-cant portion of total external debt, detailed dataare available only in countries that have registra-tion requirements covering private debt, mostcommonly in connection with exchange controls.Where formal registration of foreign borrowing isnot mandatory, compilers must rely on balance ofpayments data and financial surveys.

This edition includes data on private nonguar-anteed debt, either as reported or as estimated, for80 countries for which this type of debt is knownto be significant.

For private nonguaranteed debt that is notreported, the standard estimation approach startsfrom a calculation of the stock of debt outstand-ing, using data available from creditors. Figureson guaranteed export credits, obtained from theOECD’s Creditor Reporting System (CRS), aresupplemented by loan-by-loan information on of-ficial lending to private borrowers and by infor-mation on noninsured commercial bank lending tothe private sector.

Disbursements and debt service payments forprivate nonguaranteed debt are more difficult toestimate. Amortization is estimated by making anassumption regarding the proportion of debt re-paid each year and then applying these ratios togenerate a first approximation of annual principalrepayments.

Disbursements are then estimated as a resid-ual between net flows (equal to the change in thestock of debt) and estimated amortization. Inter-est payments are estimated by applying an as-sumed average interest rate to the stock of debtoutstanding.

Data on the balance of payments flows pro-vide useful guidelines in the process of building atime series because private nonguaranteed debtcan be treated as a residual between total net long-term borrowing and net long-term borrowing

recorded in the DRS for public and publicly guar-anteed debt.

Short-term debtThe World Bank regards the individual reportingcountry as the authoritative source of informationon its own external liabilities. But for short-termdebt, defined as debt with an original maturityof one year or less, accurate information is notwidely available from debtors. By its nature, short-term debt is difficult to monitor; loan-by-loan reg-istration is normally impractical, and most report-ing arrangements involve periodic returns to acountry’s central bank from its banking sector.Since 1982 the quality of such reporting has im-proved, but only a few developing countries havefigures available for short-term debt.

Where information from debtors is not avail-able, data from creditors can indicate the magni-tude of a country’s short-term debt. The mostimportant source is the BIS’s semiannual seriesshowing the maturity distribution of commercialbanks’ claims on developing countries. Those dataare reported residually. However, an estimate ofshort-term liabilities by original maturity can becalculated by deducting from claims due in oneyear those that had a maturity of between one andtwo years 12 months earlier.

There are several problems with this method.Valuation adjustments caused by exchange ratemovements will affect the calculations, as will pre-payment and refinancing of long-term maturitiesfalling due. Moreover, not all countries’ commer-cial banks report in a way that allows the fullmaturity distribution to be determined, and theBIS data include liabilities only to banks within thereporting area. Nevertheless, combining these esti-mates with data on officially guaranteed short-term suppliers’ credits compiled by the OECDgives what may be thought of as a lower-bound es-timate of a country’s short-term debt. Even on thisbasis, however, the results need to be interpretedwith caution. Where short-term debt has beenrescheduled, the effect of lags in reporting and dif-ferences in the treatment of the rescheduled debtby debtors and creditors may result in doublecounting if short-term debt derived from creditorsources is added to long-term debt reported by thecountry to obtain total external liabilities.

Some of the short-term debt estimates pub-lished are drawn from debtor and creditor sources,

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M E T H O D O L O G Y

but most are from creditor sources. Only for a fewcountries can the data be regarded as authorita-tive, but they offer a guide to the size of a country’sshort-term (and, hence, its total) external debt.The quality of these data is likely to improve.

Use of IMF creditData related to the operations of the IMF comefrom the IMF Treasurer’s Department and are con-verted from special drawing rights (SDRs) into dol-lars using end-of-period exchange rates for stocksand average over the period exchange rates forconverting flows, as described earlier. IMF trustfund loans and operations under the structural ad-justment and enhanced structural adjustment facil-ities are presented together with all of the Fund’sspecial facilities (the buffer stock, compensatoryfinancing, extended fund, and oil facilities).

Treatment of arrearsThe DRS collects information on arrears in bothprincipal and interest. Principal in arrears is in-cluded and identified in the amount of long-termdebt outstanding. Interest in arrears of long-termdebt and the use of IMF credit is included andidentified in the amount of short-term debt out-standing. If and when interest in arrears is capital-ized under a debt reorganization agreement, theamount of interest capitalized will be added to theamount of long-term debt outstanding and the cor-responding deduction made from the amount ofshort-term debt outstanding.

Treatment of debt restructuringsThe DRS attempts to capture accurately the effectsof the different kinds of restructurings on bothdebt stocks and debt flows, consistent with the cir-cumstances under which the restructuring takesplace. Whether a flow has taken place is some-times difficult to determine.

In compiling and presenting the debt data, adistinction is made between cash flows and im-puted flows. Based on this criterion, rescheduledservice payments and the shift in liabilities fromone financial instrument to another as a result ofrescheduling are considered to be imputed flows.

The imputed flows are recorded separately inthe World Bank External Debt (WBXD) system,but these debt restructuring transactions are notevident in the main body of the debt data—only theresulting effect of these transactions is reflected.

Changes in creditor and debtor status thatcan result from debt restructuring are also re-flected. For example, when insured commercialcredits are rescheduled, the creditor classificationshifts from private sources to official sources (bi-lateral). This reflects the assumption of the assetsby the official credit insurance agencies of thecreditor countries. The debts to the original credi-tors are reduced by the amounts rescheduled, anda new obligation to the official creditor agenciesis created. This shift also applies to private non-guaranteed debt that is reduced by the amountsrescheduled, which in turn are included in thepublic and publicly guaranteed debt owed to offi-cial creditors. On the debtor side, when a govern-ment accepts responsibility for the payment ofrescheduled debt previously owed by private en-terprises, the DRS registers a change in debtorcategories in the DRS. Similarly, when short-termdebt is included in a restructuring agreement, therescheduled amount is shifted from short-term tolong-term debt.

Methodology for projecting data

An important feature of the WBXD system ofthe DRS is its ability to project future dis-

bursements of unutilized commitments and futuredebt service payments.

Undisbursed debtProjections of disbursements help underpin futurecapital requirements in the implementation ofexternally financed projects. In addition, they helpdetermine the interest portion of projected debtservice. Future interest payments are based on pro-jected debt outstanding that is itself determined byprojected disbursements and repayments. The un-derlying assumptions of these projections are thatloan commitments will be fully utilized and thatthe debtor country will repay all sums due. Futuredisbursements and debt service refer only to exist-ing debt and do not reflect any assumptions onfuture borrowing.

Disbursement projections use two methods:• Specific schedules. Debtor countries are re-quested to submit a calendar of future disburse-ments, if available, at the time individual loansare first reported. Country authorities are in a bet-ter position to provide estimated disbursement

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schedules when there is a solid public sector in-vestment program in place.• Standard schedules. In the absence of specificschedules, the WBXD system projects disburse-ments by applying a set of profiles to the last ac-tual undisbursed balance of individual loans. Theprofiles are derived under the assumption that spe-cific sources of funds have some common charac-teristics that cause them to disburse, in the aggre-gate, in some observable pattern. Accordingly,some thirty profiles have been derived thatroughly correspond to creditor type. Profiles existfor concessional and nonconcessional loans fromofficial creditors. For bilateral lending, profileshave been developed for the Development Assis-tance Committee, the Organization of PetroleumExporting Countries (OPEC), and other creditorgroupings. For multilateral lending, specific pro-files are available for major international organi-zations. An estimating equation for each profile isderived by applying regression analysis techniquesto a body of data that contains actual disburse-ment information for more than 100,000 loans.Although these standard profiles are reestimatedfrom time to time, under the best scenario they canonly approximate the disbursement pattern of anysingle loan.

Future debt service paymentsMost projections of future debt service paymentsgenerated by the WBXD system are based on therepayment terms of the loans. Principal repay-ments (amortization) are based on the amount ofloan commitments, and the amortization profileof most loans follows a set pattern. Using the firstand final payment dates and the frequency of thepayments, the system calculates the stream of prin-cipal payments due. If future payments are irregu-lar, the WBXD system requires a schedule.

Projected future interest payments are calcu-lated similarly. Interest is based on the amount ofdebt disbursed and outstanding at the beginning ofthe period. Again, using the first and final interestpayment dates and the frequency of payments, thesystem calculates the stream of interest paymentsdue. If interest payments are irregular, the WBXDsystem requires a schedule.

The published figures for projected debt ser-vice obligations are converted into U.S. dollarsusing the end-December 2002 exchange rates.Likewise the projection routine for variable inter-est rate debt, such as commercial bank debt basedon the London interbank offer rate (LIBOR),assumes that the rate prevailing at the end ofDecember 2002 will be effective throughout.

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Sources and definitions

This edition of GDF Online presents reportedor estimated data on the total external debtof all low- and middle-income countries.

Format

The country and summary data has been ex-panded to include summary tables along with

the standard country tables for the 135 individualcountries that report to the World Bank’s DebtorReporting System (DRS). Summary tables presentselected debt and resource flow statistics for theindividual reporting countries and external debtdata for regional and income groups. Regional andincome group totals in the summary tables includeestimates for Saudi Arabia that does not report tothe DRS. The format of the regional and incomegroup tables draws on the individual country tableformat and includes graphic presentations.

For the 135 individual countries that reportto the World Bank’s DRS, tables are presented in afour-page layout containing 10 sections.

SECTION 1 summarizes the external debt of thecountry.

Total external debt stocks (EDT) consist ofpublic and publicly guaranteed long-term debt,private nonguaranteed long-term debt (whetherreported or estimated by the staff of the WorldBank), the use of IMF credit, and estimatedshort-term debt. Interest in arrears on long-termdebt and the use of IMF credit are added to theshort-term debt estimates and are shown as sepa-rate lines. Arrears of principal and of interesthave been disaggregated to show the arrearsowed to official creditors and the arrears owedto private creditors. Export credits and principal

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in arrears on long-term debt are shown as memo-randum items.

Total debt flows are consolidated data on dis-bursements, principal repayments, and interestpayments for total long-term debt and transac-tions with the IMF.

Net flows on debt are disbursements on long-term debt and IMF purchases minus principal re-payments on long-term debt and IMF repurchasesup to 1984. Beginning in 1985 this line includesthe change in stock of short-term debt (includinginterest arrears for long-term debt). Thus if thechange in stock is positive, a disbursement is as-sumed to have taken place; if negative, a repay-ment is assumed to have taken place.

Total debt service (TDS) shows the debt ser-vice payments on total long-term debt (public andpublicly guaranteed and private nonguaranteed),use of IMF credit, and interest on short-term debt.

SECTION 2 provides data series for aggregatenet resource flows and net transfers (long-term).

Net resource flows (long-term) are the sum ofnet resource flows on long-term debt (excludingIMF credit) plus net foreign direct investment,portfolio equity flows, and official grants (exclud-ing technical cooperation). Grants for technicalcooperation are shown as a memorandum item.Also shown as memorandum items are official netresource flows and private net resource flows. Of-ficial net resource flows are the sum of net flowson long-term debt to official creditors (excludingthe IMF) plus official grants (excluding technicalcooperation). Private net resource flows are thesum of net flows on debt to private creditors plusnet foreign direct investment and portfolio equityflows. Official net transfers and private net trans-fers are shown as memorandum items as well.


Net transfers (long-term) are equal to netlong-term resource flows minus interest paymentson long-term loans and foreign direct investmentprofits.

SECTION 3 provides data series for major eco-nomic aggregates.

The gross national income (GNI) series usesyearly average exchange rates in converting GNIfrom local currency into U.S. dollars. The economicaggregates are prepared for the convenience of users;the usual caution should be exercised in using themfor economic analysis.

SECTION 4 provides debt indicators: ratios ofdebt and debt service to some of the economicaggregates.

SECTION 5 provides detailed information onstocks and flows of long-term debt and its variouscomponents. Data on bonds issued by private enti-ties without public guarantee, compiled for majorborrowers, are included in private nonguaranteeddebt. IBRD loans and IDA credits are shown asmemorandum items.

SECTION 6 provides information on the cur-rency composition of long-term debt. The majorcurrencies in which the external debt of low- andmiddle-income countries is contracted are sepa-rately identified, as is debt denominated in specialdrawing rights and debt repayable in multiplecurrencies.

SECTION 7 provides information on restructur-ings of long-term debt starting in 1985. It showsboth the stock and flows rescheduled each year.In addition, the amount of debt forgiven (interestforgiven is shown as a memorandum item) andthe amount of debt stock reduction (includingdebt buyback) are also shown separately. (See theMethodology section for a detailed explanation ofrestructuring data.)

SECTION 8 reconciles the stock and flow dataon total external debt for each year, beginningwith 1989. This section is designed to illustrate thechanges in stock that have taken place due to fivefactors: the net flow on debt, the net change ininterest arrears, the capitalization of interest, thereduction in debt resulting from debt forgivenessor other debt reduction mechanisms, and thecrosscurrency valuation effects. The residualdifference—the change in stock not explained byany of the factors identified above—is also pre-sented. The residual is calculated as the sum of iden-tified accounts minus the change in stock. Where

the residual is large it can, in some cases, serveas an illustration of the inconsistencies in thereported data.

More often, however, it can be explained byspecific borrowing phenomena in individual coun-tries. These are explained in the Country Notessection.

SECTION 9 provides information on the average-terms of new commitments on public and publiclyguaranteed debt and information on the level ofcommitments from official and private sources.

SECTION 10 provides anticipated disburse-ments and contractual obligations on long-termdebt contracted up to December 2002.

Sources

The principal sources of information for thetables in these two volumes are reports to the

World Bank through the DRS from member coun-tries that have received either IBRD loans or IDAcredits. Additional information has been drawnfrom the files of the World Bank and the IMF.

Reporting countries submit detailed (loan-by-loan) reports through the DRS on the annual status,transactions, and terms of the long-term externaldebt of public agencies and that of private onesguaranteed by a public agency in the debtor coun-try. This information forms the basis for the tablesin these volumes.

Aggregate data on private debt without publicguarantee are compiled and published as reliablereported and estimated information becomesavailable. This edition includes data on privatenonguaranteed debt, either as reported or as esti-mated, for 80 countries.

The short-term debt data are as reported bythe debtor countries or are estimates derived fromcreditor sources. The principal creditor sources arethe semiannual series of commercial banks’ claimson developing countries, published by the Bankfor International Settlements (BIS), and data onofficially guaranteed suppliers’ credits compiled bythe Organisation for Economic Co-operation andDevelopment (OECD). For some countries, esti-mates were prepared by pooling creditor anddebtor information.

Interest in arrears on long-term debt and theuse of IMF credit are added to the short-term debtestimates and shown as separate lines in section 1.

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Arrears of interest and of principal owed to officialand to private creditors are identified separately.

Export credits are shown as a memorandumitem in section 1. Data prior to 1998 include offi-cial export credits, and suppliers’ credits and bankcredits officially guaranteed or insured by an ex-port credit agency. Both long-term and short-termexports credits are included. For 1998 to 2002 ex-port credits include all export credits extended,guaranteed, insured, or rescheduled by the officialsector of OECD countries. The source for this in-formation is the Creditor Reporting System (CRS)of the OECD.

Data on long-term debt reported by membercountries are checked against, and supplementedby, data from several other sources. Among theseare the statements and reports of several regionaldevelopment banks and government lending agen-cies, as well as the reports received by the WorldBank under the CRS from the members of theDevelopment Assistance Committee (DAC) of theOECD.

Every effort has been made to ensure the accu-racy and completeness of the debt statistics. Nev-ertheless, quality and coverage vary amongdebtors and may also vary for the same debtorfrom year to year. Coverage has been improvedthrough the efforts of the reporting agencies andthe work of World Bank missions, which visitmember countries to gather data and to providetechnical assistance on debt issues.

Definitions

For all regional, income, and individual countrytables, data definitions are presented below or

footnoted where appropriate. Data definitions forother summary tables are, likewise, consistentwith those below.

Summary debt dataTOTAL DEBT STOCKS are defined as the sum of pub-lic and publicly guaranteed long-term debt, privatenonguaranteed long-term debt, the use of IMFcredit, and short-term debt. The relation betweentotal debt stock and its components is illustratedon page xxi.

Long-term external debt is defined as debtthat has an original or extended maturity of morethan one year and that is owed to nonresidents

and repayable in foreign currency, goods, orservices.

Long-term debt has three components:• Public debt, which is an external obligation ofa public debtor, including the national govern-ment, a political subdivision (or an agency of either),and autonomous public bodies.• Publicly guaranteed debt, which is an externalobligation of a private debtor that is guaranteedfor repayment by a public entity.• Private nonguaranteed external debt, which isan external obligation of a private debtor that isnot guaranteed for repayment by a public entity.

In the tables, public and publicly guaranteedlong-term debt are aggregated.

Short-term external debt is defined as debtthat has an original maturity of one year or less.Available data permit no distinction between pub-lic and private nonguaranteed short-term debt.

Interest in arrears on long-term debt is de-fined as interest payment due but not paid, on acumulative basis.

Principal in arrears on long-term debt is de-fined as principal repayment due but not paid, ona cumulative basis.

The memorandum item export credits in-cludes official export credits, suppliers’ credits, theofficial non-ODA lending, and bank credits offi-cially guaranteed or insured by an export creditagency. Both long-term and short-term credits areincluded here.

Use of IMF credit denotes repurchase obliga-tions to the IMF with respect to all uses of IMFresources (excluding those resulting from draw-ings in the reserve tranche) shown for the end ofthe year specified. Use of IMF credit comprisespurchases outstanding under the credit tranches,including enlarged access resources and all specialfacilities (the buffer stock, compensatory financ-ing, extended fund, and oil facilities), trust fundloans, and operations under the structural adjust-ment and enhanced structural adjustment facili-ties. Data are from the Treasurer’s Department ofthe IMF.• IMF purchases are total drawings on the gen-eral resources account of the IMF during the yearspecified, excluding drawings in the reserve tranche.• IMF repurchases are total repayments of out-standing drawings from the general resourcesaccount during the year specified, excluding repay-ments due in the reserve tranche.

xv


To maintain comparability between data ontransactions with the IMF and data on long-termdebt, use of IMF credit outstanding at year end(stock) is converted to dollars at the SDR ex-change rate in effect at the end of the year. Pur-chases and repurchases (flows) are converted atthe average SDR exchange rate for the year inwhich transactions take place.

Net purchases will usually not reconcilechanges in the use of IMF credit from year to year.Valuation effects from the use of different ex-change rates frequently explain much of the differ-ence, but not all.

Other factors are increases in quotas (whichexpand a country’s reserve tranche and canthereby lower the use of IMF credit as definedhere), approved purchases of a country’s currencyby another member country drawing on the gen-eral resources account, and various administrativeuses of a country’s currency by the IMF.

TOTAL DEBT FLOWS include disbursements,principal repayments, net flows and transfers ondebt, and interest payments.

Disbursements are drawings on loan commit-ments during the year specified.

Principal repayments are the amounts of prin-cipal (amortization) paid in foreign currency, goods,or services in the year specified.

Net flows on debts (or net lending or net dis-bursements) are disbursements minus principalrepayments.

Interest payments are the amounts of interestpaid in foreign currency, goods, or services in theyear specified.

Net transfers on debt are net flows minusinterest payments (or disbursements minus totaldebt service payments).

The concepts of net flows on debt, net trans-fers on debt, and aggregate net flows and nettransfers are illustrated on pages xxii and xxiii.

Total debt service paid (TDS) is debt servicepayments on total long-term debt (public and pub-licly guaranteed and private nonguaranteed), useof IMF credit, and interest on short-term debt.

Aggregate net resource flows and transfersNET RESOURCE FLOWS (LONG-TERM) are the sum ofnet resource flows on long-term debt (excludingIMF) plus non–debt-creating flows.

NON–DEBT-CREATING FLOWS are net foreigndirect-investment, portfolio equity flows, and

official grants (excluding technical cooperation).Net foreign direct investment and portfolio equityflows are treated as private source flows. Grantsfor technical cooperation are shown as a memo-randum item.

Foreign direct investment (FDI) is defined asinvestment that is made to acquire a lasting man-agement interest (usually 10 percent of votingstock) in an enterprise operating in a country otherthan that of the investor (defined according to res-idency), the investor’s purpose being an effectivevoice in the management of the enterprise. It is thesum of equity capital, reinvestment of earnings,other long-term capital, and short-term capital asshown in the balance of payments.

Portfolio equity flows are the sum of countryfunds, depository receipts (American or global),and direct purchases of shares by foreign investors.

Grants are defined as legally binding commit-ments that obligate a specific value of funds avail-able for disbursement for which there is no repay-ment requirement.

The memorandum item technical cooperationgrants includes free-standing technical coopera-tion grants, which are intended to finance thetransfer of technical and managerial skills or oftechnology for the purpose of building up generalnational capacity without reference to any specificinvestment projects; and investment-related tech-nical cooperation grants, which are provided tostrengthen the capacity to execute specific invest-ment projects.

Profit remittances on foreign direct invest-ment covers payments of direct investment income(debit side), which consist of income on equity(dividends, branch profits, and reinvested earn-ings) and income on debt (interest).

Major economic aggregatesFive economic aggregates are provided for thereporting economies. Gross national income, orGNI (Gross national product, or GNP, in previouseditions) is the sum of value added by all residentproducers plus any product taxes (less subsidies)not included in the valuation of output plus netreceipts of primary income (compensation of em-ployees and property income) from abroad. Thenational accounts data for most developing coun-tries are collected from national statistical organi-zations and central banks by visiting and residentWorld Bank missions. Data on GNI are from the

xvi


Macroeconomic Data Team of the DevelopmentEconomics Development Data Group of the WorldBank.

Exports of goods, services and income (XGS)comprise the total value of goods and services ex-ported, and receipts of compensation of employ-ees, and investment income. Workers’ remittances,a transfer and not an income entry is the balance ofpayments, are treated as compensation of employ-ees in Global Development Finance because theyare often difficult to distinguish from compensa-tion of nonresident workers and migrants.

Workers’ remittances and compensation ofemployees comprise current transfers by migrantworkers, wages and salaries earned by nonresidentworkers. In addition, migrants’ transfers, a part ofcapital transfers, are treated as workers’ remit-tances in Global Development Finance. See GDFvolume 1 for more details.

Imports of goods and services (MGS) are thetotal value of goods and services imported and in-come paid.

International reserves (RES) are the sum of acountry’s monetary authority’s holdings of specialdrawing rights (SDRs), its reserve position in theIMF, its holdings of foreign exchange, and its hold-ings of gold (valued at year-end London prices).

Current account balance is the sum of thecredits less the debits arising from internationaltransactions in goods, services, income, and cur-rent transfers. It represents the transactions thatadd to or subtract from an economy’s stock of for-eign financial items.

Data on exports and imports (on a balance ofpayments basis), international reserves, and currentaccount balances are drawn mainly from the files ofthe IMF, supplemented by World Bank staff esti-mates. Balance of payments data are presented ac-cording to the fifth edition of the IMF’s Balance ofPayments Manual, which made several adjustmentsto its presentation of trade statistics. Coverage ofgoods was expanded to include in imports the valueof goods received for processing and repair (on agross basis). Their subsequent re-export is recordedin exports (also on a gross basis). This approachwill cause a country’s imports and exports to in-crease without affecting the balance of goods. Inaddition, all capital transfers, which were includedwith current transfers in the fourth edition of theBalance of Payments Manual, are now shown in aseparate capital (as opposed to financial) account,

and so do not contribute to the current accountbalance.

Debt indicatorsThe macroeconomic aggregates and debt dataprovided in the tables are used to generate ratiosthat analysts use to assess the external situationsof developing countries. Different analysts givedifferent weights to these indicators, but no singleindicator or set of indicators can substitute for athorough analysis of the overall situation of aneconomy. The advantage of the indicators inGlobal Development Finance is that they are cal-culated from standardized data series that arecompiled on a consistent basis by the World Bankand the IMF. The ratios offer various measuresof the cost of, or capacity for, servicing debt interms of the foreign exchange or output forgone.The following ratios are provided based on totalexternal debt:

EDT/XGS is total external debt to exports ofgoods and services (including workers’ remittances).

EDT/GNI is total external debt to grossnational income.

TDS/XGS, also called the debt service ratio, istotal debt service to exports of goods and services(including workers’ remittances).

INT/XGS, also called the interest serviceratio, is total interest payments to exports of goodsand services (including workers’ remittances).

INT/GNI is total interest payments to grossnational income.

RES/EDT is international reserves to totalexternal debt.

RES/MGS is international reserves to importsof goods and services.

Short-term/EDT is short-term debt to totalexternal debt.

Concessional/EDT is concessional debt tototal external debt.

Multilateral/EDT is multilateral debt to totalexternal debt.

Long-term debtData on long-term debt include eight main elements:

DEBT OUTSTANDING AND DISBURSED is the totaloutstanding debt at year end.

DISBURSEMENTS are drawings on loan commit-ments by the borrower during the year.

PRINCIPAL REPAYMENTS are amounts paid by theborrower during the year.

xvii


NET FLOWS received by the borrower during theyear are disbursements minus principal repayments.

INTEREST PAYMENTS are amounts paid by theborrower during the year.

NET TRANSFERS are net flows minus interestpayments during the year; negative transfers shownet transfers made by the borrower to the creditorduring the year.

DEBT SERVICE (LTDS) is the sum of principalrepayments and interest payments actually made.

UNDISBURSED DEBT is total debt undrawn atyear end; data for private nonguaranteed debt arenot available.

Data from individual reporters are aggregatedby type of creditor. Official creditors includes mul-tilateral and bilateral debt.• Loans from multilateral organizations areloans and credits from the World Bank, regionaldevelopment banks, and other multilateral andintergovernmental agencies. Excluded are loansfrom funds administered by an international orga-nization on behalf of a single donor government;these are classified as loans from governments.• Bilateral loans are loans from governmentsand their agencies (including central banks), loansfrom autonomous bodies, and direct loans fromofficial export credit agencies.

Private creditors include bonds, commercialbanks, and other private creditors. Commercialbanks and other private creditors comprise bankand trade-related lending.• Bonds include publicly issued or privatelyplaced bonds.• Commercial banks are loans from privatebanks and other private financial institutions.• Other private includes credits from manufac-turers, exporters, and other suppliers of goods,and bank credits covered by a guarantee of an ex-port credit agency.

Four characteristics of a country’s debt aregiven as memorandum items for long-term debtoutstanding and disbursed (LDOD).

Concessional LDOD conveys informationabout the borrower’s receipt of aid from officiallenders at concessional terms as defined by theDAC, that is, loans with an original grant elementof 25 percent or more. Loans from major regionaldevelopment banks—African Development Bank,Asian Development Bank, and the Inter-AmericanDevelopment Bank—and from the World Bankare classified as concessional according to each

institution’s classification and not according tothe DAC definition, as was the practice in earlierreports.

Variable interest rate LDOD is long-termdebt with interest rates that float with move-ments in a key market rate such as the Londoninterbank offer rate (LIBOR) or the U.S. primerate. This item conveys information about theborrower’s exposure to changes in internationalinterest rates.

Public sector LDOD and private sectorLDOD convey information about the distributionof long-term debt for DRS countries by type ofdebtor (central government, state and local gov-ernment, central bank; private bank, private debt).

Currency composition of long-term debtThe major currencies in which the external debtof low- and middle-income countries is contractedare separately identified, as is debt denominated inspecial drawing rights and debt repayable in multi-ple currencies. Beginning in 2001, debt denomi-nated in the currencies of the twelve members inthe European Monetary Union is included underthe euro.

Debt restructuringsDebt restructurings include restructurings in thecontext of the Paris Club, commercial banks, debt-equity swaps, buybacks, and bond exchanges.Debt restructuring data capture the non-cash orinferred flows associated with rescheduling andrestructuring. These are presented to complementthe cash-basis transactions recorded in the mainbody of the data.

Debt stock rescheduled is the amount of debtoutstanding rescheduled in any given year. Princi-pal rescheduled is the amount of principal due orin arrears that was rescheduled in any given year.

Interest rescheduled is the amount of interestdue or in arrears that was rescheduled in any givenyear.

Debt forgiven is the amount of principal dueor in arrears that was written off or forgiven inany given year.

Interest forgiven is the amount of interest dueor in arrears that was written off or forgiven in anygiven year.

Debt stock reduction is the amount that hasbeen netted out of the stock of debt using debtconversion schemes such as buybacks and equity

xviii


swaps or the discounted value of long-term bondsthat were issued in exchange for outstanding debt.

Debt stock-flow reconciliationStock and flow data on total external debt are rec-onciled for each year, beginning with 1989. Thedata show the changes in stock that have takenplace due to the net flow on debt, the net change ininterest arrears, the capitalization of interest, thereduction in debt resulting from debt forgivenessor other debt reduction mechanisms, and the cross-currency valuation effects. The residual difference—the change in stock not explained by any of thesefactors—is also presented, calculated as the sum ofidentified accounts minus the change in stock.

Average terms of new commitmentsThe average terms of borrowing on public andpublicly guaranteed debt are given for all newloans contracted during the year and separatelyfor loans from official and private creditors. Toobtain averages, the interest rates, maturities, andgrace periods in each category have been weightedby the amounts of the loans.

The grant equivalent of a loan is its commit-ment (present) value, less the discounted presentvalue of its contractual debt service; convention-ally, future service payments are discounted at10 percent. The grant element of a loan is thegrant equivalent expressed as a percentage of theamount committed. It is used as a measure of theoverall cost of borrowing. Loans with an originalgrant element of 25 percent or more are defined asconcessional. The average grant element has beenweighted by the amounts of the loans.

Commitments cover the total amount of loansfor which contracts were signed in the year speci-fied; data for private nonguaranteed debt are notavailable.

Projections on existing pipelineProjected debt service payments are estimates ofpayments due on existing debt outstanding, in-cluding undisbursed. They do not include servicepayments that may become due as a result of newloans contracted in subsequent years. Nor do theyallow for effects on service payments of changes inrepayment patterns owing to prepayment of loansor to rescheduling or refinancing, including repay-ment of outstanding arrears, that occurred afterthe last year of reported data.

Projected disbursements are estimates ofdrawings of unutilized balances. The projectionsdo not take into account future borrowing by thedebtor country. (See the Methodology section for adetailed explanation of how undisbursed balancesare projected.)

Exchange ratesData received by the World Bank from its mem-bers are expressed in the currencies in which thedebts are repayable or in which the transactionstook place. For aggregation, the Bank convertsthese amounts to U.S. dollars using the IMF parvalues or central rates, or the current market rateswhere appropriate. Service payments, commit-ments, and disbursements (flows) are converted toU.S. dollars at the average rate for the year. Debtoutstanding and disbursed at the end of a givenyear (a stock) is converted at the rate in effect atthe end of that year. Projected debt service, how-ever, is converted to U.S. dollars at rates in effectat end-December 2002. Debt repayable in multiplecurrencies, goods, or services and debt with a pro-vision for maintenance of value of the currency ofrepayment are shown at book value.

AdjustmentsYear-to-year changes in debt outstanding and dis-bursed are sometimes not equal to net flows; simi-larly, changes in debt outstanding, includingundisbursed, differ from commitments less repay-ments. The reasons for these differences are can-cellations, adjustments caused by the use of differ-ent exchange rates, and the rescheduling of otherliabilities into long-term public debt.

SymbolsThe following symbols have been used throughout:• 0.0 indicates that a datum exists, but is negli-gible, or is a true zero.• .. indicates that a datum is not available.• Dollars are current U.S. dollars unless other-wise specified.

Note to users

Long-term public and publicly guaranteed debtdata are as reported for 86 countries; for 25

other countries the data are preliminary (that is,

xix


substantially based on reported data) or estimatedby World Bank staff. The status of each country isgiven in the Country Groups section.

This edition includes data on private nonguar-anteed debt, either as reported or as estimated, for80 countries.

Data for exports, imports, and internationalreserves are standard series drawn from the Inter-national Monetary Fund (IMF) and maintained inthe data files of the World Bank. Data for grossnational income denominated in U.S. dollars aredrawn directly from the files of the Macroeco-nomic Data Team of the Development Data Groupof the World Bank. Data for direct foreign invest-ment are drawn from the IMF, and data for grantsare drawn from the OECD and supplemented byWorld Bank staff estimates. The charts on pages[[xxi to xxiii]] are intended to help the reader in-terpret the debt stocks and flows reported in thetables.

Beginning with 1991 all ruble debt owed tothe former Soviet Union is converted at a rate of$1 � 0.6 ruble, except in cases where a bilateralagreement specifying a different conversion rate isin place. This valuation method does not consti-tute an endorsement by World Bank staff of theappropriateness or validity of this method or theexchange rate used. The appropriate valuation isa matter to be resolved bilaterally between theRussian Federation and its debtor countries.

The following abbreviations are used in theprincipal ratios and indicator tables:BIS Bank for International SettlementsCRS Creditor Reporting System (of the OECD)

DAC Development Assistance Committee (ofthe OECD)

DDSR Debt and debt service reductionDRS Debtor Reporting System (of the World

Bank)EDT Total external debt, including short-term

and use of IMF creditFDI Foreign direct investmentGNI Gross national incomeIBRD International Bank for Reconstruction

and Development/World BankIDA International Development Association

(of the World Bank)IMF International Monetary FundINT Total interest payments on long-term and

short-term debt, including IMF chargesLDOD Total long-term debt outstanding and

disbursedLIBOR London interbank offer rateMGS Imports of goods and servicesMYRA Multiyear rescheduling agreementNPV Net present value of debtODA Official development assistanceOECD Organisation for Economic Co-operation

and DevelopmentOPEC Organization of Petroleum Exporting

CountriesRES International reservesSDR Special drawing right (of the IMF)TDS Total debt service on long-term debt and

short-term (interest only), including IMFCredits

WBXD World Bank External Debt SystemXGS Exports of goods and services

xx


xxi

Total externaldebt (EDT)

Short-termdebt

Privatenonguaranteed debt

Public and publiclyguaranteed debt

Officialcreditors

Privatecreditors

by creditor

Long-term debt(LDOD)

Use of IMFcredits

Commercialbanks

Bonds OtherMultilateral Bilateral

by debtor

Debt stock and its components

xxii

Aggregate net resource flows and net transfers (long-term) to developing countries

Loandisbursements

Principalrepayments

Net resourceflows on debt

Debt service(LTDS)

Interest payments

Net transferson debt

Foreign directinvestment (FDI),

portfolio equity flows,and official grants

minus

equals

minus

equals

minus

equals

equalsplus

Aggregate nettransfers

Loan interestand FDI profits

Aggregate netresource flows



xxiii

Aggregate net resource flows (long-term) and the balance of payments

Credits Debits

• Exports of goods and services • Imports of goods and services

• Income received • Income paid

Current account • Current transfers • Current transfersIncluding workers’ remittances and private grants

• Official unrequited transfers • Official unrequited transfers (by foreign governments) (by national government)

• Official unrequited transfer • Official unrequited transfer(by foreign governments) (by national government)

• Foreign direct investment • Foreign direct investment (by nonresidents) (by residents)(disinvestment shown as negative) disinvestment shown as negative

Capital and • Portfolio investment • Portfolio investment (abroad by financial account (by nonresidents) residents)

(amortizations shown as negative) (amortizations shown as negative)

• Other long-term capital inflows (by • Other long-term capital inflow (by nonresidents) (amortizations shown residents) (amortizations shown as as negative) negative)

• Short-term capital inflow • Short-term capital outflow

Reserve account Net changes in reserves

Aggregate net resource flows

Net resource flows on debt (long-term)

xxiv

Country groups

East Asia and Pacific

Cambodia (P)China (E)Fiji (A)Indonesia (P)Lao PDR (P)Malaysia (E)Mongolia (A)Myanmar (E)Papua New Guinea (A)Philippines (A)Samoa (A)Solomon Islands (A)Thailand (P)Tonga (A)Vanuatu (E)Vietnam (P)

Europe and Central Asia

Albania (A)Armenia (A)Azerbaijan (A)Belarus (A)Bosnia and Herzegovinaa (A)Bulgaria (A)Croatia (A)Czech Republic (P)Estonia (A)Georgia (A)Hungary (A)Kazakhstan (A)Kyrgyz Republic (A)Latvia (A)Lithuania (A)Macedonia, FYR (A)Moldova (A)Poland (A)Romania (A)Russian Federation (E)Slovak Republic (A)Serbia and Montenegroa (P)

Tajikistan (A)Turkey (A)Turkmenistan (..)Ukraine (A)Uzbekistan (A)

Latin America and the Caribbean

Argentina (P)Belize (A)Bolivia (A)Brazil (P)Chile (A)Colombia (A)Costa Rica (A)Dominica (A)Dominican Republic (A)Ecuador (E)El Salvador (A)Grenada (A)Guatemala (A)Guyana (A)Haiti (P)Honduras (A)Jamaica (A)Mexico (A)Nicaragua (A)Panama (A)Paraguay (A)Peru (A)St. Kitts and Nevis (A)St. Lucia (A)St. Vincent and the Grenadines (A)Trinidad and Tobago (A)Uruguay (A)Venezuela, R.B. de (A)

Middle East and North Africa

Algeria (A)Djibouti (A)Egypt, Arab Rep. of (A)Iran, Islamic Rep. of (A)

Jordan (A)Lebanon (A)Morocco (P)Oman (A)Syrian Arab Republic (E)Tunisia (A)Yemen, Republic of (A)Saudi Arabia

South Asia

Bangladesh (A)Bhutan (A)India (A)Maldives (A)Nepal (A)Pakistan (P)Sri Lanka (A)

Sub-Saharan Africa

Angola (E)Benin (A)Botswana (A)Burkina Faso (A)Burundi (P)Cameroon (A)Cape Verde (A)Central African Republic (E)Chad (P)Comoros (P)Congo, Dem. Rep. of (P)Congo, Rep. of (E)Côte d’Ivoire (E)Equatorial Guinea (E)Eritrea (A)Ethiopia (P)Gabon (P)Gambia, The (A)Ghana (A)Guinea (E)Guinea-Bissau (E)Kenya (A)

Lesotho (A)Liberia (E)Madagascar (P)Malawi (E)Mali (A)Mauritania (A)Mauritius (A)Mozambique (E)Niger (P)Nigeria (E)Rwanda (E)São Tomé and Principe (P)Senegal (P)Seychelles (A)Sierra Leone (A)Somalia (E)South Africa (P)Sudan (E)Swaziland (A)Tanzania (E)Togo (P)Uganda (A)Zambia (P)Zimbabwe (P)

Regional groups

Note: Saudi Arabia printed in italics does not report to the DRS but is included in aggregate tables. Letters in parenthesis indicate DRS reporters’ status: (A) as reported, (P) preliminary, and

(E) estimated. The status “as reported” indicates that the country was fully current in its reporting under the (DRS) and that World Bank staff are satisfied that the reported data give an adequate

and fair representation of the country’s total public debt. “Preliminary” data are based on reported or collected information but, because of incompleteness or other reasons, include an element

of staff estimation. “Estimated” data indicate that countries are not current in their reporting and that a significant element of staff estimation has been necessary in producing the data tables.

a. For Bosnia and Herzegovina, total debt before 1999, excluding IBRD and IMF obligations and short-term debt, is included under Serbia and Montenegro.

C O U N T R Y G R O U P S

xxv

Low-income countries

AngolaAzerbaijanBangladeshBeninBhutanBurkina FasoBurundiCambodiaCameroonCentral African RepublicChadComorosCongo, Dem. Rep. ofCongo, Rep. ofCôte d’IvoireEquatorial GuineaEritreaEthiopiaGambia, TheGeorgiaGhanaGuineaGuinea-BissauHaitiIndiaIndonesiaKenyaKyrgyz RepublicLao PDRLesothoLiberiaMadagascarMalawiMaliMauritaniaMoldovaMongoliaMozambiqueMyanmarNepalNicaragua

Income groups

NigerNigeriaPakistanPapua New GuineaRwandaSão Tomé and PrincipeSenegalSierra LeoneSolomon IslandsSomaliaSudanTajikistanTanzaniaTogoUgandaUzbekistanVietnamYemen, Republic ofZambiaZimbabwe

Middle-income countries

AlbaniaAlgeriaArgentinaArmeniaBelarusBelizeBoliviaBotswanaBosnia and HerzegovinaBrazilBulgariaCape VerdeChileChinaColombiaCosta RicaCroatiaCzech RepublicDjiboutiDominicaDominican RepublicEcuadorEgypt, Arab Rep. ofEl SalvadorEstoniaFijiGabonGrenadaGuatemalaGuyanaHondurasHungaryIran, Islamic Rep. ofJamaicaJordanKazakhstanLatviaLebanonLithuaniaMacedonia, FYRMalaysia

MaldivesMauritiusMexicoMoroccoOmanPanamaParaguayPeruPhilippinesPolandRomaniaRussian FederationSamoaSerbia and MontenegroSeychellesSlovak RepublicSouth AfricaSri LankaSt. Kitts and NevisSt. LuciaSt. Vincent and the GrenadinesSwazilandSyrian Arab RepublicThailandTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanUkraineUruguayVanuatuVenezuela, R.B. deSaudi Arabia

Note: Countries printed in normal type are reporters to the Debtor Reporting System (DRS); Saudi Arabia printed in italics does not report to the DRS but is included in

aggregate tables. Low-income countries are those in which 2002 GNI per capita (calculated using the World Bank Atlas method) was no more than $735; middle-income

countries are those in which GNI per capita was between $736 and $9,075.

Summary tables

.

Table 1: KEY INDEBTEDNESS INDICATORS 2000–2002(US$ millions)

Ratio of total external Ratio of present value Ratio of total Ratio of presentTotal external Present value debt to exports of of debt to exports of external debt to value of debt to

Country debt stocks 2002 of debt 2002 goods & services % goods and services % GNI % GNI %

Albania 1,312 870 84 56 30 20

Algeria 22,800 21,872 109 104 43 42

Angola 10,134 9,797 129 125 123 118

Argentina 132,314 139,764 372 393 63 66

Armenia 1,149 749 168 109 52 34

Azerbaijan 1,398 1,108 55 44 26 21

Bangladesh 17,037 10,973 182 117 35 22

Belarus 908 858 11 10 7 7

Belize 835 944 178 202 114 129

Benin 1,843 873 288 136 76 36

Bhutana 377 347 265 244 79 73

Bolivia 4,867 1,805 282 105 62 23

Bosnia and Herzegovina 2,515 1,778 107 76 47 34

Botswana 480 403 17 14 10 8

Brazil 227,932 242,257 316 336 45 48

Bulgaria 10,462 10,761 132 136 77 79

Burkina Faso 1,580 463 493 145 56 16

Burundi 1,204 750 2,492 1,553 176 110

Cambodia 2,907 2,453 129 109 86 73

Cameroon 8,502 4,841 321 183 102 58

Cape Verde 414 265 160 102 74 48

Central African Republic 1,066 766 831 597 107 77

Chad 1,281 612 542 259 77 37

Chile 41,945 41,651 174 173 63 63

China 168,255 161,498 52 50 15 14

Colombia 33,853 36,211 191 204 43 46

Comoros 270 192 753 535 119 84

Congo, Dem. Rep. of 8,726 8,402 836 805 178 171

Congo, Rep. of 5,152 4,887 211 200 241 228

Costa Rica 4,834 5,105 64 67 31 33

Côte d’Ivoire 11,816 9,425 235 188 114 91

Croatia 15,347 15,010 145 142 78 76

Czech Republic 26,419 26,367 62 62 46 46

Djibouti 335 221 133 87 57 37

Dominica 207 190 150 138 88 81

Dominican Republic 6,256 5,961 59 56 32 30

Ecuador 16,452 18,110 222 244 87 95

Egypt, Arab Rep. of 30,750 26,692 149 129 32 28

El Salvador 5,828 6,218 102 109 43 46

Equatorial Guinea 260 212 13 10 57 47

Eritrea 528 306 345 200 69 40

Estonia 4,741 4,702 90 89 87 86

Ethiopiab 6,522 3,972 614 374 103 63

Fiji 210 201 43 41 12 12

Gabon 3,533 3,522 107 107 87 87

Gambia, The 573 295 256 132 150 77

Georgia 1,838 1,378 178 133 56 42

Ghana 7,338 3,908 291 155 137 73

Grenada 339 297 161 141 91 80

Guatemala 4,676 4,484 94 90 22 21

Guinea 3,401 1,433 391 165 111 47

Guinea-Bissau 699 456 1,145 747 354 231

xxviii

xxix

Guyana 1,459 850 205 119 221 129

Haiti 1,248 837 113 76 34 23

Honduras 5,395 3,087 174 100 86 49

Hungary 34,958 32,799 88 82 66 62

India 104,429 82,903 130 103 22 17

Indonesia 132,208 130,847 191 189 90 89

Iran, Islamic Rep. of 9,154 7,938 29 25 9 7

Jamaica 5,477 5,873 120 129 76 82

Jordan 8,094 7,380 129 118 92 84

Kazakhstan 17,538 16,490 159 149 85 80

Kenya 6,031 4,487 197 147 54 40

Kyrgyz Republic 1,797 1,326 282 208 126 93

Lao PDR 2,665 1,431 522 280 162 87

Latvia 6,690 6,626 175 174 86 85

Lebanon 17,077 18,083 333 352 96 102

Lesotho 637 432 115 78 64 44

Liberia 2,324 2,473 1,584 1,686 526 559

Lithuania 6,199 6,064 97 94 51 50

Macedonia, FYR 1,619 1,317 101 83 45 37

Madagascar 4,518 1,398 417 129 107 33

Malawi 2,912 876 609 183 168 51

Malaysia 48,557 48,311 44 44 58 57

Maldives 270 203 57 42 45 34

Mali 2,803 1,240 279 123 109 48

Mauritania 2,309 570 600 148 243 60

Mauritius 1,803 1,729 63 60 40 39

Mexico 141,264 154,543 75 82 24 26

Moldova 1,349 1,234 138 126 86 79

Mongolia 1,037 715 149 102 100 69

Morocco 18,601 17,050 129 119 55 51

Mozambique 4,609 894 444 86 138 27

Myanmar 6,556 4,085 241 150 . . . .

Nepal 2,953 1,716 228 133 53 31

Nicaragua 6,485 2,863 501 221 174 77

Niger 1,797 509 527 149 92 26

Nigeria 30,476 31,495 138 143 78 81

Oman 4,639 4,500 39 38 24 23

Pakistan 33,672 26,462 256 201 57 45

Panama 8,298 9,771 91 107 71 84

Papua New Guinea 2,485 2,399 117 113 85 82

Paraguay 2,967 2,840 96 92 44 42

Peru 28,167 29,764 280 296 53 56

Philippines 59,343 61,272 130 136 75 77

Poland 69,521 66,561 127 122 39 38

Romania 14,683 15,193 103 106 36 37

Russian Federation 147,541 148,599 121 122 49 50

Rwanda 1,435 688 912 438 83 40

Samoa 234 168 249 178 95 68

São Tomé and Principe 333 112 1,903 640 751 253

Senegal 3,918 2,410 247 152 86 53

Serbia and Montenegro 12,688 12,199 280 269 108 104

Seychellesc 253 254 48 49 42 43




xxx

Sierra Leone 1,448 717 1,181 585 207 102

Slovak Republic 13,013 13,032 84 84 62 62

Solomon Islands 180 130 139 100 66 47

Somalia 2,688 2,518 . . . . . . . .

South Africa 25,041 24,966 66 66 22 22

Sri Lanka 9,611 7,692 129 103 60 48

St. Kitts and Nevis 255 242 157 148 84 80

St. Lucia 415 405 110 107 67 65

St. Vincent and the Grenadines 206 169 116 95 63 51

Sudan 16,389 15,842 620 600 137 133

Swaziland 342 332 27 26 26 25

Syrian Arab Republic 21,504 21,212 274 270 116 114

Tajikistan 1,153 898 152 118 113 88

Tanzania 7,244 1,757 483 117 79 19

Thailand 59,211 58,174 71 69 50 49

Togo 1,581 1,164 314 231 125 92

Tonga 74 49 102 68 50 34

Trinidad and Tobago 2,672 2,984 55 61 31 35

Tunisia 12,625 12,550 123 123 66 65

Turkey 131,556 134,434 227 232 75 77

Turkmenistan . . . . . . . . . . . .

Uganda 4,100 1,264 378 116 72 22

Ukraine 13,555 12,613 63 59 37 35

Uruguay 10,736 10,863 274 278 65 65

Uzbekistan 4,568 4,348 142 136 60 57

Vanuatu 84 55 50 33 38 25

Venezuela, R. B. de 32,563 36,512 101 113 29 33

Vietnam 13,349 11,354 72 61 41 35

Yemen, Republic of 5,290 3,548 101 68 59 40

Zambia 5,969 4,283 566 406 177 127

Zimbabwe 4,066 3,909 197 190 35 33

Note: . . � Not available. For definition of indicators, see Sources and Definitions section. Numbers in italics include the effects of traditional relief and HIPC relief (countries that have reached the completion

point) and are based on publicand publicly guaranteed debt only. Exports comprise the total value of goods and services exported, receipts of compensations of employees and investment income and worker’s

remittances.

In the ratios, the numerator refers to the 2002 data and the denominator is an average of 2000 to 2002 data.

a. The growth in debt stock in Bhutan is being driven mainly by the financing of a large, enclave hydropower project (estimated to cost the equivalent of about 130 percent of GDP), which is expected to boost

exports sharply once it is commissioned in mid-2005.

b. As of December 31, 2002, Ethiopia had yet to reach the completion point under HIPC.

c. Figures do not include parastatal debt. Including parastatal debt, external debt for 2002 is estimated to be approximately $560 million at end-2002.




xxxi

Country classifications for 2004

GLOBAL DEVELOPMENT FINANCEclassifies indebtedness based on two ratios:

the ratio of the present value of total debt service togross national income (GNI) and the ratio of thepresent value of total debt service to exports. Theseratios cast a country’s indebtedness in terms of twoimportant aspects of its potential capacity to ser-vice the debt: exports (because they provide foreignexchange to service debt) and GNI (because it isthe broadest measure of income generation in aneconomy). For the 135 countries that report to theWorld Bank’s Debtor Reporting System (DRS) thedebt data are drawn from this source. GNI and ex-port data are from World Bank files, as shown inthe Country Tables volume of Global DevelopmentFinance. Export figures are earnings from goodsand services, including worker remittances. Dataon official grants are not included, although theymay be a stable source of foreign exchange in somecountries.

The two indebtedness ratios in Global Devel-opment Finance 2004 are calculated as follows:• The ratio of the present value of total debtservice in 2002 to average GNI in 2000, 2001, and2002.• The ratio of the present value of total debtservice in 2002 to average exports (includingworker remittances) in 2000, 2001, and 2002.

If either ratio exceeds a critical value—80 per-cent for the debt service to GNI ratio and 220 per-cent for the debt service to exports ratio—thecountry is classified as severely indebted. If thecritical value is not exceeded but either ratio isthree-fifths or more of the critical value (that is,48 percent for the present value of debt service toGNI and 132 percent for the present value ofdebt service to exports), the country is classifiedas moderately indebted. If both ratios are lessthan three-fifths of the critical value, the countryis classified as less indebted. Countries are furtherclassified as low-income if 2002 GNI per capitawas $735 or less and as middle-income if 2002GNI per capita was $736 or more but less than$9,075. Combining these criteria leads to theidentification of severely indebted low-incomecountries (SILICs), severely indebted middle-income countries (SIMICs), moderately indebtedlow-income countries (MILICs), moderately in-debted middle-income countries (MIMICs), less

indebted low-income countries (LILICs), andless indebted middle-income countries (LIMICs;table 2).

The use of critical values to define the bound-aries between indebtedness categories implies thatchanges in country classifications should be inter-preted with caution. If a country has an indicatorthat is close to the critical value, a small change inthe indicator may trigger a change in indebtednessclassification even if economic fundamentals havenot changed significantly.

Moreover, these indicators do not represent anexhaustive set of useful indicators of external debt.They may not, for example, adequately capture thedebt servicing capacity of countries in which gov-ernment budget constraints are key to debt servicedifficulties. Countries that allow the use or freeconversion of a foreign currency can face govern-ment budget difficulties that are related to servicingexternal public debt, but that are not necessarilyreflected in balance of payments data. In othercountries, the servicing of domestic public debtmay be a source of fiscal strain that is not reflectedin balance of payments data. Moreover, risingexternal debt may not necessarily imply paymentdifficulties, especially if there is a commensurateincrease in the country’s debt servicing capacity.Thus, these indicators should be used in thebroader context of a country-specific analysis ofdebt sustainability.

In the context of the Heavily Indebted PoorCountries (HIPC) Initiative, countries are classi-fied based on the ratio of the present value of pub-lic and publicly guaranteed debt to exports ofgoods and services, excluding worker remittances.For those countries for which a joint debt sustain-ability analysis has been undertaken, the indicatorsare calculated on this basis and shown in italicsin table 1.

The discount rates used to calculate presentvalue are interest rates charged by the Organisa-tion for Economic Co-operation and Development(OECD) countries for officially supported exportcredits. They represent, on average, the mostfavorable terms for fixed-rate nonconcessionaldebt that countries are able to contract in interna-tional loan markets. The rates are specified for14 currencies, including—British pounds, Canadiandollars, Japanese yen, U.S. dollars and theEuro. International Bank for Reconstruction and

xxxii

Development currency-pool loans, InternationalDevelopment Association credits, and Interna-tional Monetary Fund loans are discounted at thespecial drawing rights lending rate. For debt de-nominated in other currencies, discount rates arethe average of the above interest rates on exportcredits charged by OECD countries.

In present value calculations, debt service onfixed-rate loans is determined and each paymentis discounted to compute its present value. Forvariable-rate loans, for which the future debt ser-vice payment cannot be precisely determined, debtservice is calculated using the rate at the end of2002 for the base specified for the loan.

Income and indebtedness classification

Indebtedness classification

PV/XGS higher than 220 percent but higher

PV/XGS higher than than 132 percent or220 percent or PV/GNI less than

PV/GNI higher than 80 percent but higher PV/XGS less than 132 percent Income classification 80 percent than 48 percent or PV/GNI less than 48 percent

Low-income: GNI per Severely indebted Moderately indebted Less indebted low-income countriescapita less than $735 low-income countries low-income countries

Middle-income: GNI Severely indebted Moderately indebted Less indebted middle-income countriesper capita between $736 middle-income countries middle-income and $9,075 countries

Note: PV/XGS is present value of debt service to exports of goods and services. PV/GNI is present value of debt service to GNI.

Source: World Bank

xxxiii

Table 2: CLASSIFICATION OF DRS ECONOMIES

Severely indebted Severely indebted Moderately indebted Moderately indebted Less indebted Less indebtedlow-income middle-income low-income middle-income low-income middle-income

Angola

Bhutanb, c

Burundi

Central African Republic

Chad

Comoros

Congo, Dem. Rep. of

Congo, Rep. of

Côte d’Ivoire

Ethiopiad

Guinea-Bissau

Indonesia

Kyrgyz Republic

Lao PDR

Liberia

Myanmar

Nicaragua

Nigeria

Papua New Guineab

Rwanda

São Tomé and Principe

Sierra Leone

Somalia

Sudan

Tajikistan

Togob

Zambia

27

Argentina

Belize

Brazil

Dominicab

Ecuador

Estoniab

Gabon

Guyana

Jamaicab

Jordan

Latviab

Lebanon

Panama

Peru

Serbia and Montenegro

Syrian Arab Republic

Turkeyb

Uruguay

18

Benina

Burkina Fasoa

Cambodia

Cameroon

Eritreab

Gambia, Thea

Georgia

Ghana

Guineaa

Kenya

Malawia

Mali

Mauritaniaa

Moldovaa

Mongolia

Nepalb

Nigera

Pakistana

Senegal

Uzbekistan

Zimbabwe

21

Bulgaria

Chile

Colombia

Croatia

Grenada

Honduras

Hungary

Kazakhstan

Lithuaniab

Malaysia

Moroccob

Philippines

Russian Federation

Samoa

Slovak Republic

Sri Lankab

St. Kitts and Nevis

St. Luciab

St. Vincent and the Grenadines

Thailand

Tunisia

Turkmenistan

22

Armenia

Azerbaijan

Bangladesh

Equatorial Guinea

Haitia

India

Lesotho

Madagascara

Mozambique

Solomon Islands

Tanzaniaa

Ugandaa

Ukraine

Vietnam

Yemen, Republic of

15

Albania

Algeria

Belarus

Boliviaa

Bosnia and Herzegovina

Botswana

Cape Verde

China

Costa Rica

Czech Republic

Djibouti

Dominican Republic

Egypt, Arab Rep. of

El Salvador

Fiji

Guatemala

Iran, Islamic Rep. of

Macedonia, FYR

Maldives

Mauritius

Mexico

Oman

Paraguay

Poland

Romania

Seychellese

South Africa

Swaziland

Tonga

Trinidad and Tobago

Vanuatu

Venezuela, R. B. de

32

Note: Tables classify all World Bank member economies and all other economies with populations more than 30,000. Economies are divided among income groups according to 2000 GNI per capita, calculated

using the World Bank Atlas method. Income groups are low-income, $735 or less; lower-middle-income, $736–$2,935; upper-middle-income, $2,936–$9,075; and high-income, $9,076 or more.

a. Countries whose indebtedness classification has improved.

b. Countries whose indebtedness classification has worsened.

c. The growth in debt stock in Bhutan is being driven mainly by the financing of a large, enclave hydropower project (estimated to cost the equivalent of about 130 percent of GDP), which is expected to boost

exports sharply once it is commissioned in mid-2005.

d. As of December 31, 2002, Ethiopia had yet to reach the completion point under HIPC.

e. Figures do not include parastatal debt. Including parastatal debt, external debt for 2002 is estimated to be approximately $560 million at end-2002.

xxxiv

Table 3: EXTERNAL DEBT(US$ millions)

Long-term Distribution of long-term debt (%)Total debt Total debt/ debt/total

stock GNI (%) debt (%) Multilateral Bilateral Private

1997 2002 1997 2002 1997 2002 1997 2002 1997 2002 1997 2002

Albania 515 1,312 23 26 80 91 40 48 54 49 7 3

Algeria 30,892 22,800 68 42 93 94 13 18 50 58 36 24

Angola 9,950 10,134 155 104 87 88 3 4 30 29 67 67

Argentina 128,411 132,314 45 138 71 78 11 16 9 5 80 79

Armenia 638 1,149 37 47 76 82 76 66 24 31 0 3

Azerbaijan 506 1,398 13 25 47 74 64 42 32 40 3 18

Bangladesh 14,421 17,037 33 34 96 97 69 74 30 23 1 3

Belarus 1,171 908 8 6 58 78 38 23 18 34 44 43

Belize 450 835 76 110 60 95 39 23 39 11 22 66

Benin 1,627 1,843 77 69 86 92 62 68 37 32 0 0

Bhutan 120 377 33 70 98 100 63 37 36 63 2 0

Bolivia 5,237 4,867 68 64 87 88 59 74 31 5 10 22

Bosnia and Herzegovina .. 2,515 .. 43 .. 92 .. 54 .. 25 .. 21

Botswana 575 480 11 10 93 97 74 68 20 28 5 4

Brazil 198,024 227,932 25 53 82 81 6 12 7 6 86 83

Bulgaria 9,853 10,462 98 69 83 82 13 21 16 8 70 71

Burkina Faso 1,303 1,580 50 51 88 89 88 89 12 11 0 0

Burundi 1,065 1,204 113 169 96 91 85 87 15 13 0 0

Cambodia 2,383 2,907 78 82 92 89 10 23 90 77 0 0

Cameroon 9,371 8,502 110 98 85 87 18 19 72 76 9 5

Cape Verde 207 414 41 68 97 93 76 73 18 22 6 5

Central African Republic 883 1,066 89 100 91 92 75 60 23 37 2 3

Chad 1,023 1,281 67 65 91 90 80 87 18 12 2 1

Chile 22,809 41,945 31 68 94 91 7 3 3 1 90 96

China 146,697 168,255 17 13 79 72 16 23 18 19 66 58

Colombia 31,941 33,853 31 43 82 89 16 24 6 4 79 71

Comoros 219 270 103 106 92 89 79 79 21 21 0 0

Congo, Dem. Rep. of 12,337 8,726 428 159 70 85 25 33 65 65 10 2

Congo, Rep. of 5,071 5,152 325 235 84 77 14 14 66 66 19 20

Costa Rica 3,478 4,834 28 30 85 69 44 38 27 11 30 51

Côte d’Ivoire 15,609 11,816 142 106 80 88 26 29 37 36 37 35

Croatia 7,981 15,347 40 70 90 98 7 6 15 6 78 88

Czech Republic 23,077 26,419 44 40 65 59 5 7 2 3 93 91

Djibouti 274 335 53 55 92 91 54 65 46 34 0 2

Dominica 107 207 47 95 89 86 66 58 34 18 0 24

Dominican Republic 4,240 6,256 29 31 82 67 28 32 54 27 18 41

Ecuador 15,418 16,452 68 73 86 84 22 25 15 19 63 56

Egypt, Arab Rep. of 30,102 30,750 39 34 90 89 15 14 81 76 4 10

El Salvador 3,251 5,828 30 42 75 83 68 45 25 12 7 43

Equatorial Guinea 283 260 68 .. 74 80 45 47 48 47 7 7

Eritrea 75 528 8 70 100 94 55 64 45 36 0 0

Estonia 2,264 4,741 51 77 55 66 10 2 3 0 87 98

Ethiopia 10,077 6,522 146 109 94 97 26 61 70 37 4 2

Fiji 219 210 11 11 78 83 68 85 8 11 24 4

Gabon 4,278 3,533 90 85 86 91 14 12 82 83 4 5

Gambia, The 425 573 106 164 94 88 81 78 19 22 0 0

Georgia 1,466 1,838 40 54 81 81 30 43 69 54 0 4

Ghana 6,313 7,338 94 122 84 87 60 64 23 24 16 12

Grenada 123 339 43 90 94 79 46 28 49 23 5 49

Guatemala 3,876 4,676 22 20 77 80 36 52 37 31 27 17

Guinea 3,519 3,401 96 108 85 87 52 57 46 42 3 1

xxxv

Guinea-Bissau 921 699 362 338 91 95 46 59 54 41 0 0

Guyana 1,635 1,459 243 219 84 83 49 56 45 40 6 4

Haiti 1,052 1,248 32 36 86 85 83 88 17 12 0 0

Honduras 4,851 5,395 108 84 89 87 54 57 35 31 12 12

Hungary 24,561 34,958 55 54 86 84 12 6 3 1 85 94

India 94,317 104,429 23 21 94 96 33 30 26 20 41 50

Indonesia 136,161 132,208 65 80 74 76 16 19 27 37 58 44

Iran, Islamic Rep. of 11,845 9,154 12 8 72 74 6 6 63 14 30 81

Jamaica 3,761 5,477 55 75 79 85 34 30 48 22 18 49

Jordan 7,317 8,094 104 88 84 87 23 28 52 60 25 12

Kazakhstan 4,078 17,538 19 74 79 93 26 10 24 4 50 86

Kenya 6,456 6,031 62 49 84 86 53 57 35 34 13 9

Kyrgyz Republic 1,341 1,797 79 116 85 89 34 56 29 31 37 13

Lao PDR 2,320 2,665 136 165 97 98 36 47 64 53 0 0

Latvia 2,759 6,690 49 80 35 38 21 24 8 2 71 74

Lebanon 5,029 17,077 33 94 64 85 11 5 10 2 78 93

Lesotho 673 637 50 67 95 96 73 81 15 9 12 10

Liberia 2,012 2,324 766 487 53 46 38 38 44 43 18 18

Lithuania 3,262 6,199 35 46 60 64 13 11 10 6 77 83

Macedonia, FYR 1,234 1,619 34 43 82 91 40 45 30 22 30 34

Madagascar 4,109 4,518 119 104 94 92 43 51 56 46 1 2

Malawi 2,228 2,912 89 156 94 92 86 84 13 15 1 0

Malaysia 47,228 48,557 50 55 68 83 4 3 9 12 88 86

Maldives 171 270 36 45 96 82 61 64 29 14 10 22

Mali 3,152 2,803 130 99 86 89 54 70 46 30 0 0

Mauritania 2,495 2,309 239 242 83 86 45 57 54 43 1 0

Mauritius 1,837 1,803 42 40 73 51 18 30 23 35 59 35

Mexico 147,632 141,264 38 23 75 93 15 13 6 2 79 84

Moldova 1,082 1,349 55 76 78 83 34 39 23 12 43 49

Mongolia 606 1,037 68 93 88 92 54 58 41 41 5 0

Morocco 23,549 18,601 73 53 91 91 29 34 40 37 30 30

Mozambique 7,632 4,609 237 135 93 88 23 37 50 25 27 38

Myanmar 5,503 6,556 .. .. 92 82 23 23 59 61 18 16

Nepal 2,390 2,953 49 53 98 99 85 90 13 10 2 0

Nicaragua 6,229 6,485 199 170 86 89 39 42 54 49 7 9

Niger 1,556 1,797 86 83 90 92 63 73 31 23 7 3

Nigeria 28,455 30,476 84 77 81 93 18 10 57 80 26 9

Oman 6,227 4,639 40 23 83 74 4 23 9 10 88 67

Pakistan 30,074 33,672 49 57 87 89 45 49 37 41 18 10

Panama 6,031 8,298 65 69 90 95 14 14 7 3 79 83

Papua New Guinea 2,590 2,485 55 92 92 93 34 39 18 22 48 39

Paraguay 2,461 2,967 26 54 79 84 45 47 25 18 30 35

Peru 29,687 28,167 51 51 75 91 19 27 47 34 34 39

Philippines 50,727 59,342 59 71 75 88 19 13 30 24 51 63

Poland 40,401 69,521 27 37 91 87 6 4 67 29 27 67

Romania 9,524 14,683 27 32 84 94 28 25 18 7 54 68

Russian Federation 127,621 147,541 32 43 85 85 5 5 54 39 41 55

Rwanda 1,111 1,435 61 84 89 91 86 89 14 11 0 0

Samoa 156 234 64 90 95 67 93 91 7 9 0 0

São Tomé and Principe 237 333 606 718 95 92 67 60 33 40 0 0

Senegal 3,687 3,918 86 80 86 86 57 65 41 34 2 1




1997 2002 1997 2002 1997 2002 1997 2002 1997 2002 1997 2002

xxxvi

Serbia and Montenegro 10,968 12,688 .. 81 65 69 18 37 41 32 42 31

Seychelles 149 253 27 40 88 59 41 38 40 52 19 10

Sierra Leone 1,200 1,448 144 191 85 87 48 57 43 43 9 0

Slovak Republic 9,803 13,013 47 56 56 67 9 9 6 5 85 86

Solomon Islands 140 180 34 75 98 97 55 60 12 23 33 17

Somalia 2,561 2,688 .. .. 72 69 39 39 59 59 2 2

South Africa 25,272 25,041 17 25 55 70 0 1 0 0 100 99

Sri Lanka 8,118 9,611 54 59 89 92 40 43 46 42 14 15

St. Kitts and Nevis 114 255 46 83 98 99 36 33 45 20 19 47

St. Lucia 153 415 28 67 78 51 72 51 28 9 0 40

St. Vincent and the Grenadines 118 206 42 60 78 84 65 44 33 18 2 38

Sudan 16,326 16,389 158 125 58 58 21 21 58 58 21 21

Swaziland 385 342 25 28 59 80 56 62 31 26 14 11

Syrian Arab Republic 20,937 21,504 147 108 78 74 5 3 88 90 7 7

Tajikistan 1,065 1,153 99 100 90 87 5 44 57 41 37 16

Tanzania 7,199 7,244 95 78 85 86 48 58 47 41 5 1

Thailand 109,699 59,211 75 48 63 79 5 7 17 27 78 65

Togo 1,346 1,581 92 117 90 85 59 62 41 38 0 0

Tonga 59 74 32 54 98 99 74 81 20 19 6 0

Trinidad and Tobago 2,316 2,672 43 29 75 68 34 34 11 1 55 65

Tunisia 11,229 12,625 62 63 85 95 36 35 37 23 27 43

Turkey 84,785 131,556 44 73 78 72 10 7 11 8 79 85

Turkmenistan 1,771 .. 64 .. 70 .. 2 .. 11 .. 87 ..

Uganda 3,878 4,100 62 71 87 90 71 86 26 13 2 1

Ukraine 11,133 13,555 22 33 69 82 20 23 38 27 42 50

Uruguay 6,710 10,736 31 90 72 68 26 37 7 3 66 60

Uzbekistan 2,790 4,568 26 59 77 91 10 14 45 41 45 45

Vanuatu 48 84 21 36 81 83 75 89 25 11 0 0

Venezuela, R. B. de 35,718 32,563 41 36 84 89 8 12 5 3 87 85

Vietnam 21,777 13,349 83 38 87 91 4 24 71 63 25 14

Yemen, Republic of 3,874 5,290 61 57 89 86 41 40 54 59 5 1

Zambia 6,668 5,969 180 169 79 81 41 57 55 40 3 3

Zimbabwe 4,919 4,066 61 .. 72 80 45 48 29 36 25 16

All developing countries 2,122,611 2,338,848 36 39 79 82 17 19 27 22 56 60

East Asia & Pacific 526,312 497,354 35 28 73 78 13 17 25 27 62 56

Europe & Central Asia 387,545 545,842 36 49 80 80 9 9 34 21 57 70

Latin America & the Caribbean 665,833 727,944 34 45 79 84 13 17 11 7 76 76

Middle East & North Africa 172,634 189,010 35 33 80 79 16 16 54 44 30 40

South Asia 149,611 168,349 28 26 93 94 40 40 29 26 31 35

Sub-Saharan Africa 220,677 210,350 67 70 78 83 31 35 45 43 24 22

Low-income 520,179 523,464 53 49 83 86 30 34 38 38 31 28

Middle-income 1,602,432 1,815,384 33 37 77 81 12 14 23 17 65 69

Heavily indebted poor countries 204,992 188,582 109 86 83 84 34 44 50 43 16 13

Note: Individual country data are shown for Debtor Reporting System (DRS) countries only.




1997 2002 1997 2002 1997 2002 1997 2002 1997 2002 1997 2002

xxxvii

Maturity distribution of debt, 2002

Note: Country selection is based on size of external debt at end-2002. Short-term debt is debt with an original maturity of one year or less(and includes interest arrears). Debt due in the short term is debt due within a year and comprises liabilities to banks, debt securities issuedabroad, and nonbank credits. Debt due in the short term is larger than short-term debt, but when these data are derived from differentsources this may not hold. Reserves are the sum of a country’s monetary authority’s holdings of special drawing rights, its reserve position inthe IMF, its holding of foreign exchange, and its holdings of gold (valued at year-end London prices).Sources: Debtor Reporting System and joint BIS-IMF-OECD-World Bank statistics on external debt (also available on the World BankWeb site: http://www.worldbank.org/data).

Peru

Egypt,Arab Rep.

Venezuela,R. B. de

Nigeria

Hungary

Colombia

Pakistan

Chile

Malaysia

Thailand

Philippines

Poland

Turkey

India

Indonesia

Argentina

China

Mexico

Brazil

RussianFederation

Long-term debtShort-term debt

2000

Short-term debt to reserves, 2002

Peru

Egypt,Arab Rep.

Venezuela,R. B. de

Nigeria

Hungary

Colombia

Pakistan

Chile

Malaysia

Thailand

Philippines

Poland

Turkey

India

Indonesia

Argentina

China

Mexico

Brazil

RussianFederation

Debt due in the shortterm to reserves

Short-term debt toreserves

250200050 100 150 50 100 150

Billions of US dollars Percent

Table 3: EXTERNAL DEBT

xxxviii

Table 4: AGGREGATE NET RESOURCE FLOWS (long-term)(US$ millions)

Private flows

Aggregate net Bank and Official flowsresource flows Foreign direct Portfolio trade-related (including

(excl. IMF) investment equity Bonds lending grants)

1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002

Albania 343 371 97 135 0 0 0 0 �2 1 248 235

Algeria �786 41 580 1,065 0 0 0 0 �1,116 �42 �251 �982

Angola 1,390 1,721 1,404 1,312 0 0 0 0 16 108 �30 301

Argentina 14,007 50 10,605 785 �2,580 �99 5,041 86 206 �91 735 �631

Armenia 248 239 114 111 0 1 0 0 8 �4 127 132

Azerbaijan 792 1,555 601 1,392 0 0 0 0 53 �79 137 242

Bangladesh 1,186 893 174 47 �4 0 0 0 39 85 977 761

Belarus 279 277 243 247 1 0 0 0 �3 �21 38 50

Belize 127 124 31 25 0 0 14 140 54 �64 28 23

Benin 201 198 42 41 1 0 0 0 0 0 159 157

Bhutan 65 126 0 0 0 0 0 0 �1 0 66 126

Bolivia 1,347 1,421 827 677 0 0 �1 0 99 �75 423 819

Bosnia and Herzegovina 824 676 103 293 0 0 0 0 2 6 719 377

Botswana 57 6 62 37 �2 0 0 0 �1 �2 �2 �28

Brazil 35,789 10,865 27,075 16,566 2,292 1,981 1,462 1,519 3,885 �10,205 1,074 1,004

Bulgaria 1,058 859 733 600 14 �23 11 �79 112 310 189 51

Burkina Faso 295 343 13 8 0 0 0 0 0 0 282 335

Burundi 85 146 2 0 0 0 0 0 1 �2 81 148

Cambodia 423 379 195 54 0 0 0 0 �2 0 230 325

Cameroon 219 327 47 86 0 0 0 0 �53 �49 225 289

Cape Verde 103 77 23 15 1 0 0 0 1 1 78 60

Central African Republic 74 47 2 4 0 0 0 0 0 0 72 43

Chad 167 1,079 41 901 0 0 0 0 0 �1 126 179

Chile 8,438 2,492 5,437 1,713 436 �317 960 1,614 1,738 �230 �133 �288

China 46,724 46,213 41,876 49,308 2,959 2,249 882 �1,289 �2,030 �3,161 3,036 �894

Colombia 5,264 830 2,941 2,023 54 17 1,365 67 433 �1,161 470 �117

Comoros 19 23 1 2 0 0 0 0 0 0 19 22

Congo, Dem. Rep. of 139 646 10 32 0 0 0 0 0 0 129 614

Congo, Rep. of 264 378 179 331 0 0 0 0 0 0 86 47

Costa Rica 625 464 501 662 0 0 187 �44 0 �16 �63 �139

Côte d’Ivoire 265 685 325 230 5 1 �23 0 �227 �114 184 568

Croatia 2,678 3,764 1,116 981 2 78 505 �27 959 2,573 96 160

Czech Republic 4,872 10,501 4,385 9,323 566 �265 126 180 �327 1,143 122 119

Djibouti 41 53 3 4 0 0 0 0 0 0 37 49

Dominica 39 42 14 14 0 0 6 0 2 2 17 26

Dominican Republic 1,067 1,369 898 961 0 0 93 �20 57 410 18 18

Ecuador 1,141 2,120 858 1,275 6 1 67 0 14 826 196 17

Egypt, Arab Rep. of 2,057 342 955 647 264 �212 320 0 �22 3 539 �95

El Salvador 714 1,691 360 208 0 0 112 1,252 38 �40 204 271

Equatorial Guinea 345 337 330 323 0 0 0 0 0 0 15 13

Eritrea 223 208 60 21 0 0 0 0 0 0 162 187

Estonia 815 1,572 416 285 78 0 63 219 207 1,083 50 �14

Ethiopia 728 1,080 155 75 0 0 0 0 �1 �4 574 1,009

Fiji 39 75 31 77 0 0 0 0 �8 �6 17 4

Gabon �132 21 �39 123 0 0 0 0 �7 16 �86 �118

Gambia, The 60 101 33 43 0 0 0 0 0 0 27 58

Georgia 299 273 166 165 2 0 0 0 10 �17 121 125

Ghana 678 515 150 50 0 0 0 0 37 �23 492 488

Grenada 59 144 42 41 0 0 0 0 5 96 12 7

Guatemala 554 380 319 110 0 0 �3 �31 �24 �19 262 319

Guinea 213 99 22 0 0 0 0 0 �6 0 197 99

xxxix

Guinea-Bissau 57 33 5 1 0 0 0 0 0 0 52 32

Guyana 157 65 53 44 0 0 0 0 �3 �1 106 22

Haiti 171 84 13 6 0 0 0 0 0 0 159 78

Honduras 630 312 187 143 0 0 �12 0 50 �43 405 212

Hungary 3,611 336 2,123 854 494 �137 �85 �742 1,208 247 �130 115

India 6,810 1,989 3,074 3,030 1,817 967 2,042 �272 �985 1,219 861 �2,955

Indonesia �4,014 �7,114 �1,250 �1,513 �2,143 877 �381 �406 �2,363 �5,924 2,124 �148

Iran, Islamic Rep. of �1,280 891 40 37 0 0 0 0 315 779 �1,635 75

Jamaica 663 639 436 481 0 0 298 70 �20 �11 �50 99

Jordan 685 417 343 56 �28 �52 �34 �10 �76 �24 480 448

Kazakhstan 2,876 4,471 1,635 2,583 15 39 180 �50 793 1,859 252 40

Kenya 155 150 60 50 3 0 0 0 �78 �12 169 111

Kyrgyz Republic 198 59 48 5 0 0 0 0 �30 �59 180 113

Lao PDR 215 201 12 25 0 0 0 0 0 0 204 175

Latvia 842 572 360 382 7 22 77 0 235 91 162 77

Lebanon 1,900 4,941 229 257 0 4 1,478 4,626 �18 �84 210 138

Lesotho 242 109 186 81 0 0 0 0 9 �8 46 36

Liberia 100 �18 42 �65 0 0 0 0 0 0 58 47

Lithuania 1,075 856 518 713 31 6 265 �200 118 242 142 97

Macedonia, FYR 366 314 158 77 3 0 0 0 27 35 178 201

Madagascar 426 262 53 8 0 0 0 0 �1 0 374 254

Malawi 341 253 26 6 0 0 0 0 0 0 315 247

Malaysia 3,757 4,614 3,107 3,203 �2,165 �250 975 1,962 1,162 �109 678 �192

Maldives 33 47 12 12 0 0 0 0 4 15 17 20

Mali 327 418 60 102 0 0 0 0 0 0 266 315

Mauritania 172 321 1 12 0 0 0 0 �2 4 173 305

Mauritius �13 32 71 28 �30 0 �30 0 �25 �71 1 76

Mexico 21,245 10,549 16,012 14,622 1,383 �104 861 �3,898 4,601 �359 �1,613 288

Moldova 220 105 84 111 4 2 10 �43 50 8 71 28

Mongolia 171 196 34 78 0 0 0 0 �8 0 144 119

Morocco 1,271 �557 1,242 428 16 �14 �19 �31 141 �369 �110 �572

Mozambique 975 2,273 211 406 0 0 0 0 �15 �25 779 1,892

Myanmar 449 110 287 129 0 0 0 0 97 �60 65 41

Nepal 251 212 7 10 0 0 0 0 �10 0 254 203

Nicaragua 848 579 235 174 0 0 0 0 20 32 593 373

Niger 210 238 13 8 0 0 0 0 �10 �8 206 238

Nigeria 368 318 1,126 1,281 0 0 0 �452 �158 �190 �600 �321

Oman �33 �1,181 60 40 65 �13 45 �225 �296 �933 93 �49

Pakistan 1,641 1,387 489 823 56 79 51 �178 1 �345 1,044 1,008

Panama 1,507 244 873 57 0 0 464 13 110 110 60 64

Papua New Guinea 279 0 119 50 0 0 0 0 �2 �96 163 46

Paraguay 355 45 177 �22 0 0 0 0 79 56 98 12

Peru 2,663 3,592 1,535 2,391 �26 �9 �212 719 705 30 660 461

Philippines 4,249 3,694 1,512 1,111 294 410 1,916 1,540 389 488 138 146

Poland 9,601 4,826 6,719 4,131 497 �830 1,056 1,307 1,801 467 �473 �249

Romania 2,396 3,427 1,296 1,144 85 21 81 �28 621 2,037 313 254

Russian Federation 7,599 6,219 3,224 3,009 477 2,626 3,060 2,745 �184 �370 1,022 �1,791

Rwanda 247 240 5 3 0 0 0 0 0 0 242 237

Samoa 15 18 5 1 0 0 0 0 0 0 10 17

São Tomé and Principe 23 14 3 3 0 0 0 0 0 0 20 11

Senegal 405 388 100 93 3 0 0 0 6 1 296 294

Serbia and Montenegro 1,091 3,147 231 475 0 0 0 0 9 32 851 2,640


Private flows



1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002

xl

Seychelles 61 67 49 61 0 0 0 0 �1 �2 13 7

Sierra Leone 147 255 3 5 0 0 0 0 0 0 144 251

Slovak Republic 1,757 5,504 944 4,012 12 0 348 �189 243 1,637 210 44

Solomon Islands 39 13 8 �7 0 0 0 0 �4 �3 34 22

Somalia 87 171 0 0 0 0 0 0 0 0 87 171

South Africa 8,483 1,069 2,821 739 5,262 �388 1,151 3,187 �1,003 �2,754 251 286

Sri Lanka 681 500 229 242 0 0 45 0 66 �36 342 294

St. Kitts and Nevis 93 124 59 81 0 0 0 0 19 17 15 26

St. Lucia 83 78 58 22 0 0 0 0 11 30 14 26

St. Vincent and the Grenadines 81 34 58 19 0 0 0 0 11 8 12 7

Sudan 531 919 361 633 0 0 0 0 0 0 170 285

Swaziland 109 55 76 45 1 0 0 0 9 0 23 10

Syrian Arab Republic 134 187 180 225 0 0 0 0 �4 �1 �42 �37

Tajikistan 111 103 19 9 0 2 0 0 6 �20 86 113

Tanzania 1,108 1,161 328 240 0 0 0 0 �19 �26 799 947

Thailand 4,240 �6,048 4,900 900 1,204 207 �617 �1,010 �3,234 �2,089 1,988 �4,056

Togo 123 119 40 75 8 0 0 0 �1 0 77 44

Tonga 12 10 3 2 0 0 0 0 �1 0 10 7

Trinidad and Tobago 737 714 777 737 0 0 84 0 �87 0 �38 �22

Tunisia 1,070 1,781 510 795 16 6 182 650 186 174 178 156

Turkey 5,835 8,182 1,355 1,037 66 �16 2,148 955 2,108 5,605 158 600

Turkmenistan .. .. 108 100 0 0 0 0 .. .. .. ..

Uganda 756 681 166 150 0 0 0 0 �1 �1 590 532

Ukraine 1,271 �728 650 693 �65 �1,958 223 101 325 588 137 �152

Uruguay 707 700 224 177 6 �39 279 77 1 �108 197 593

Uzbekistan 715 1 214 65 0 0 0 0 233 �76 268 12

Vanuatu 34 23 20 15 0 0 0 0 0 0 14 8

Venezuela, R. B. de 5,634 �2,267 4,492 690 302 75 192 �1,066 398 �1,337 249 �628

Vietnam 2,254 1,681 1,580 1,400 0 0 0 0 �431 �641 1,105 922

Yemen, Republic of 122 280 �101 114 0 0 0 0 0 0 223 166

Zambia 581 577 152 197 3 0 0 0 10 �12 416 392

Zimbabwe 217 155 133 26 0 0 �18 0 �70 �29 172 158

All developing countries 262,625 175,152 173,117 147,086 11,770 4,945 27,294 12,739 11,282 �9,414 39,024 21,321

East Asia & Pacific 59,549 44,599 52,438 54,834 149 3,493 2,775 798 �6,434 �11,601 10,621 �2,925

Europe & Central Asia 54,688 59,789 27,663 32,931 2,291 �433 8,069 4,149 8,680 17,092 7,985 6,050

Latin America & the Caribbean 105,606 38,145 75,097 44,682 1,874 1,507 11,259 498 12,401 �12,143 4,975 3,601

Middle East & North Africa 7,120 5,218 4,981 2,653 333 �281 1,972 5,010 �889 �498 586 �141

South Asia 11,288 5,780 3,985 4,164 1,870 1,046 2,138 �450 �886 938 4,181 83

Sub-Saharan Africa 24,374 21,621 8,954 7,822 5,254 �387 1,080 2,735 �1,590 �3,202 10,675 14,653

Low-income 30,195 24,401 11,898 12,941 �245 1,927 1,681 �1,351 �3,889 �6,365 20,750 17,249

Middle-income 232,430 150,751 161,219 134,145 12,015 3,018 25,613 14,090 15,171 �3,049 18,275 4,071

Heavily indebted poor countries 17,587 20,489 7,134 7,747 22 1 �36 0 �513 �951 10,979 13,692

Note: Individual country data are shown for Debtor Reporting System (DRS) countries only. Totals include estimates for Saudi Arabia.

Data for 1997–01 represent average annual flows.


Private flows



1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002

xli

Private capital flows

Note: Country selection is based on average annual capital flows during 1997–2001 and shows the largest recipients.

Romania

Thailand

Kazakhstan

Croatia

Malaysia

Hungary

Philippines

CzechRepublic

Colombia

Venezuela,R. B. de

Turkey

India

RussianFederation

South Africa

Chile

Poland

Argentina

Brazil

China

Mexico

�20 0�10 20 3010 40 50 60

Foreign direct investment

Romania

Thailand

Kazakhstan

Croatia

Malaysia

Hungary

Philippines

CzechRepublic

Colombia

Venezuela,R. B. de

Turkey

India

RussianFederation

South Africa

Chile

Poland

Argentina

Brazil

China

Mexico

�10 0 20 3010 40 50

Billions of US dollars Billions of US dollars

Flows in 2002

Average annualflows in 1997–2001

Flows in 2002


Table 4: AGGREGATE NET RESOURCE FLOWS (long-term)

xlii

Table 5: NET FLOWS AND TRANSFERS ON DEBT(US$ millions)

Net flows on long-term debt

Net flows Net transfers Net flows on Officialon debt on debt debt/GNI (%) Total (excl. IMF) Private

1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002

Albania 97 123 87 99 2.9 2.5 90 131 92 130 �2 1

Algeria �1,505 �1,504 �3,289 �2,722 �3.1 �2.8 �1,426 �1,115 �310 �1,073 �1,116 �42

Angola �288 �119 �469 �239 �4.9 �1.2 �242 79 �258 �29 16 108

Argentina 6,955 �1,816 �2,872 �4,382 2.4 �1.9 5,951 �690 704 �684 5,247 �5

Armenia 109 44 90 18 5.7 1.8 86 59 78 63 8 �4

Azerbaijan 196 41 163 13 4.3 0.7 146 100 93 179 53 �79

Bangladesh 356 417 172 245 0.8 0.8 394 305 355 220 39 85

Belarus �13 �19 �72 �61 �0.1 �0.1 11 12 13 32 �3 �21

Belize 84 83 56 34 12.3 10.9 79 89 11 13 69 76

Benin 42 30 20 4 1.8 1.1 34 39 34 39 0 0

Bhutan 35 93 33 91 8.5 17.4 35 93 36 93 �1 0

Bolivia 265 126 91 11 3.3 1.7 259 153 161 228 98 �75

Bosnia and Herzegovina 129 107 29 44 2.9 1.8 117 77 114 71 2 6

Botswana �31 �47 �52 �63 �0.6 �0.9 �34 �43 �33 �40 �1 �2

Brazil 99 �1,385 �15,783 �16,106 0.0 �0.3 6,344 �7,754 997 932 5,347 �8,686

Bulgaria 219 460 �290 98 1.8 3.0 171 121 48 �109 123 231

Burkina Faso 84 106 68 89 3.1 3.4 70 106 70 106 0 0

Burundi 18 35 10 29 2.5 5.0 13 26 11 28 1 �2

Cambodia 74 101 64 93 2.4 2.9 57 146 59 146 �2 0

Cameroon 73 �252 �161 �409 0.8 �2.9 �28 �106 25 �58 �53 �49

Cape Verde 34 30 30 22 6.3 4.9 31 20 30 19 1 1

Central African Republic �2 0 �8 0 �0.2 0.0 �2 0 �2 0 0 0

Chad 51 96 41 86 3.3 4.9 44 83 44 84 0 �1

Chile 2,526 2,273 860 555 3.6 3.7 2,541 1,073 �157 �311 2,698 1,384

China �519 619 �7,717 �5,283 0.0 0.0 1,581 �5,656 2,728 �1,206 �1,147 �4,450

Colombia 1,754 �1,241 �551 �3,422 1.9 �1.6 2,183 �1,303 385 �210 1,798 �1,093

Comoros 4 11 3 10 1.9 4.4 4 9 4 9 0 0

Congo, Dem. Rep. of 53 244 34 �46 1.8 4.4 2 167 2 167 0 0

Congo, Rep. of �42 159 �77 152 �2.0 7.2 �12 �7 �12 �7 0 0

Costa Rica 258 122 26 �158 1.8 0.7 99 �220 �88 �160 187 �59

Côte d’Ivoire �538 �362 �1,067 �671 �4.8 �3.3 �393 �213 �144 �98 �250 �114

Croatia 1,464 2,612 939 2,040 7.4 11.9 1,516 2,653 53 107 1,464 2,546

Czech Republic 597 1,004 �844 �390 1.1 1.5 �167 1,316 33 �8 �201 1,324

Djibouti 4 27 1 24 0.7 4.4 2 24 2 24 0 0

Dominica 16 11 11 5 6.6 4.9 15 6 7 5 8 2

Dominican Republic 264 1,052 43 786 1.4 5.1 111 357 �40 �33 151 390

Ecuador 199 1,771 �726 701 0.5 7.8 213 741 132 �85 81 826

Egypt, Arab Rep. of 83 �647 �806 �1,472 0.1 �0.7 �119 �743 �417 �745 298 3

El Salvador 383 1,097 198 833 3.1 7.8 247 1,376 98 164 149 1,211

Equatorial Guinea �1 1 �2 0 �0.1 .. 1 1 1 1 0 0

Eritrea 75 93 72 87 9.1 12.4 72 81 72 81 0 0

Estonia 239 1,785 107 1,588 5.1 28.9 269 1,238 �1 �63 270 1,302

Ethiopia 180 583 126 540 2.7 9.7 177 544 178 548 �1 �4

Fiji �3 13 �13 6 �0.3 0.7 �3 �7 5 �2 �8 �6

Gabon �128 �248 �333 �418 �3.4 �5.9 �138 �156 �130 �172 �7 16

Gambia, The 12 53 5 47 2.9 15.3 9 39 9 40 0 0

Georgia 102 15 55 �28 2.9 0.4 69 43 59 59 10 �17

Ghana 226 235 70 140 3.6 3.9 289 137 253 160 37 �23

Grenada 21 117 16 103 6.0 31.2 13 101 8 4 5 96

Guatemala 94 97 �98 �95 0.5 0.4 80 117 107 167 �27 �50

Guinea 80 �31 28 �68 2.2 �1.0 48 �40 54 �40 �6 0

Guinea-Bissau 9 �8 2 �13 3.9 �3.9 6 �2 6 �2 0 0

xliii

Guyana 21 13 �20 �20 3.3 1.9 23 6 25 7 �3 �1

Haiti 80 �47 61 �59 2.2 �1.4 51 �3 51 �3 0 0

Honduras 286 163 120 55 5.5 2.6 258 39 220 82 37 �43

Hungary 1,092 542 �423 �768 2.3 0.8 871 �503 �252 �8 1,123 �496

India 357 �883 �4,003 �4,667 0.1 �0.2 1,412 �2,710 354 �3,657 1,057 947

Indonesia �991 �6,998 �7,565 �11,044 �1.6 �4.3 �930 �6,774 1,815 �445 �2,744 �6,329

Iran, Islamic Rep. of �1,906 1,161 �2,595 804 �1.9 1.1 �1,359 822 �1,675 43 315 779

Jamaica 211 �62 �15 �395 2.9 �0.9 173 119 �104 60 277 59

Jordan 76 132 �250 �63 1.1 1.4 66 30 176 64 �110 �34

Kazakhstan 1,209 2,181 766 1,456 5.8 9.2 1,189 1,829 216 20 973 1,809

Kenya �155 3 �321 �102 �1.4 0.0 �123 �109 �45 �98 �78 �12

Kyrgyz Republic 125 �30 66 �56 9.0 �1.9 106 14 136 73 �30 �59

Lao PDR 73 63 64 52 4.7 3.9 79 60 79 60 0 0

Latvia 834 1,218 649 1,058 12.6 14.5 407 100 94 9 312 91

Lebanon 1,760 4,424 1,257 3,351 10.3 24.3 1,559 4,535 99 �7 1,460 4,542

Lesotho 22 �10 1 �25 1.8 �1.0 25 �15 16 �7 9 �8

Liberia �6 0 �6 �1 �2.3 �0.1 0 0 0 0 0 0

Lithuania 708 549 489 220 6.9 4.0 446 24 62 �18 383 42

Macedonia, FYR 87 62 29 10 2.4 1.6 90 68 63 32 27 35

Madagascar 130 158 70 124 3.5 3.6 102 149 103 149 �1 0

Malawi 89 146 67 130 5.0 7.8 110 59 110 59 0 0

Malaysia 1,846 3,727 �446 1,762 1.8 4.2 2,802 1,649 665 �204 2,137 1,853

Maldives 17 19 12 14 3.2 3.2 7 25 3 10 4 15

Mali 70 184 42 160 2.9 6.5 62 97 62 97 0 0

Mauritania 37 51 1 31 3.6 5.3 22 78 24 75 �2 4

Mauritius 25 6 �58 �59 0.6 0.1 �66 �14 �11 57 �55 �71

Mexico �1,739 �8,668 �13,893 �19,552 �0.2 �1.4 3,814 �4,011 �1,648 246 5,462 �4,257

Moldova 83 �16 28 �62 5.2 �0.9 102 �38 42 �3 60 �35

Mongolia 77 74 67 61 8.3 6.6 74 51 82 51 �8 0

Morocco �207 �1,114 �1,302 �2,221 �0.6 �3.2 �250 �1,133 �373 �734 122 �399

Mozambique 197 64 161 41 5.8 1.9 124 204 139 229 �15 �25

Myanmar 136 308 118 289 .. .. 106 �89 10 �29 97 �60

Nepal 97 �15 69 �42 1.9 �0.3 98 3 108 4 �10 0

Nicaragua 250 188 136 140 7.3 4.9 254 187 235 155 20 32

Niger 59 118 48 109 3.1 5.5 54 102 63 110 �10 �8

Nigeria �704 �1,501 �1,339 �1,842 �1.9 �3.8 �808 �1,068 �650 �426 �158 �642

Oman �79 �1,323 �420 �1,536 �0.2 �6.7 �179 �1,246 71 �87 �251 �1,158

Pakistan 609 522 �389 �303 1.0 0.9 786 221 734 744 52 �523

Panama 568 78 153 �444 5.2 0.6 624 179 49 56 574 123

Papua New Guinea 48 �153 �40 �222 1.1 �5.6 29 �148 31 �52 �2 �96

Paraguay 96 67 �34 �41 1.1 1.2 153 49 74 �7 79 56

Peru 221 155 �1,187 �1,068 0.3 0.3 958 1,046 465 297 493 749

Philippines 2,222 1,099 �357 �1,872 2.6 1.3 2,261 1,996 �44 �32 2,305 2,027

Poland 2,586 1,155 474 �1,356 1.6 0.6 1,726 707 �1,131 �1,067 2,857 1,774

Romania 647 2,075 74 1,535 1.7 4.6 833 2,004 132 �5 701 2,008

Russian Federation 3,718 �2,731 �2,214 �9,894 1.2 �0.8 3,427 355 551 �2,021 2,876 2,375

Rwanda 75 80 65 72 4.0 4.7 58 73 58 73 0 0

Samoa 11 16 8 12 4.8 6.1 0 �1 0 �1 0 0

São Tomé and Principe 9 5 7 3 21.5 11.8 7 0 7 0 0 0

Senegal 47 198 �35 126 1.0 4.0 50 117 44 116 6 1

Serbia and Montenegro 267 598 211 454 1.3 3.8 78 344 69 311 9 32

Seychelles 20 1 14 �2 3.5 0.2 4 1 4 3 �1 �2




1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002

xliv

Sierra Leone 43 84 33 74 6.4 11.1 43 53 43 53 0 0

Slovak Republic 709 1,541 26 564 3.2 6.6 743 1,370 153 �78 590 1,448

Solomon Islands 5 6 2 4 1.5 2.7 5 7 8 10 �4 �3

Somalia �1 9 �2 9 .. .. 0 0 0 0 0 0

South Africa �191 �518 �1,560 �1,614 �0.2 �0.5 175 437 27 4 148 432

Sri Lanka 271 257 57 36 1.8 1.6 343 143 232 178 111 �36

St. Kitts and Nevis 32 34 25 17 11.5 11.1 32 35 13 18 19 17

St. Lucia 21 175 12 158 3.5 28.4 12 41 1 11 11 30

St. Vincent and the Grenadines 16 10 9 5 5.1 3.1 16 10 5 3 11 8

Sudan �128 �26 �135 �27 �1.2 �0.2 �2 0 �2 0 0 0

Swaziland 33 �8 16 �17 2.0 �0.7 19 2 10 2 9 0

Syrian Arab Republic �95 �109 �310 �258 �0.4 �0.5 �115 �109 �112 �108 �4 �1

Tajikistan 59 �34 35 �46 5.3 �2.9 31 �9 25 11 6 �20

Tanzania 158 205 87 137 1.9 2.2 118 117 137 143 �19 �26

Thailand �8,437 �9,866 �13,537 �12,416 �7.2 �7.9 �1,927 �7,202 1,924 �4,102 �3,851 �3,099

Togo 27 22 14 19 1.9 1.6 27 12 28 12 �1 0

Tonga 2 4 1 3 1.0 2.7 2 4 3 4 �1 0

Trinidad and Tobago 70 �19 �96 �216 1.0 �0.2 �45 �24 �42 �24 �3 0

Tunisia 232 783 �307 273 1.2 3.9 455 866 88 42 367 824

Turkey 6,892 12,123 1,003 6,580 3.3 6.7 4,322 6,785 65 224 4,256 6,561

Turkmenistan 172 �305 89 �351 17.7 .. 150 �266 52 �40 98 �226

Uganda 194 122 163 93 3.3 2.1 194 139 194 140 �1 �1

Ukraine 517 212 �138 �419 0.9 0.5 488 417 �60 �272 548 689

Uruguay 752 783 227 311 3.8 6.6 469 552 189 584 280 �31

Uzbekistan 526 �401 330 �576 5.9 �5.1 471 �126 238 �49 233 �76

Vanuatu 5 12 4 11 2.1 5.2 5 �1 5 �1 0 0

Venezuela, R. B. de 630 �3,059 �1,892 �5,304 0.8 �3.3 822 �3,046 232 �643 590 �2,404

Vietnam 338 26 �32 �274 1.2 0.1 424 39 854 680 �431 �641

Yemen, Republic of 203 �57 131 �119 3.0 �0.6 88 57 88 57 0 0

Zambia 102 70 27 �39 3.2 2.0 118 32 108 44 10 �12

Zimbabwe �151 �150 �321 �174 �2.5 .. �40 �5 49 24 �88 �29

All developing countries 33,137 7,341 �80,530 �88,900 0.6 0.1 50,311 �8,108 11,598 �9,907 38,713 1,800

East Asia & Pacific �5,112 �10,948 �29,380 �28,820 �0.4 �0.6 4,565 �15,927 8,224 �5,123 �3,659 �10,804

Europe & Central Asia 22,709 24,909 1,097 1,770 2.4 2.2 17,785 18,824 1,036 �2,417 16,749 21,241

Latin America & the Caribbean 14,434 �7,883 �35,121 �47,547 0.8 �0.5 25,749 �10,774 2,089 871 23,660 �11,645

Middle East & North Africa �575 930 �8,440 �6,180 �0.1 0.2 �1,088 462 �2,309 �2,525 1,220 2,987

South Asia 1,742 410 �4,050 �4,626 0.3 0.1 3,075 �1,920 1,822 �2,407 1,252 487

Sub-Saharan Africa �61 �77 �4,594 �3,497 0.0 0.0 225 1,228 735 1,695 �509 �467

Low-income 2,990 �6,074 �13,112 �17,855 0.3 �0.6 4,120 �7,591 6,328 126 �2,208 �7,717

Middle-income 30,147 13,414 �67,377 �71,045 0.6 0.3 46,191 �517 5,271 �10,033 40,921 9,516

Heavily indebted poor countries 2,482 3,101 �480 742 1.3 1.4 2,473 2,438 3,022 3,388 �549 �951

Note: Individual country data are shown for Debtor Reporting System (DRS) countries only. Totals include estimates for Saudi Arabia.

Data for 1997–01 represent average annual flows.




1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002 1997–01 2002

xlv

Private debt flows (net)

Note: Figures show the largest recipients based on the size of average annual private debt flows during 1997–2001.

Romania

CzechRepublic

SlovakRepublic

Ukraine

Lithuania

Latvia

Venezuela,R. B. de

Kazakhstan

Malaysia

Colombia

Hungary

Croatia

Lebanon

Philippines

Mexico

Chile

RussianFederation

Turkey

Argentina

Poland

10�10 �5 0 5

Short-term debt flows (net)

Romania

CzechRepublic

SlovakRepublic

Ukraine

Lithuania

Latvia

Venezuela,R. B. de

Kazakhstan

Malaysia

Colombia

Hungary

Croatia

Lebanon

Philippines

Mexico

Chile

RussianFederation

Turkey

Argentina

Poland

Flows in 2002


Flows in 2002


6�6 �3 0 3

Billions of US dollars Billions of US dollars

Table 5: NET FLOWS AND TRANSFERS ON DEBT

xlvi

Table 6: NET FINANCIAL FLOWS FROM MULTILATERAL INSTITUTIONS, 2002 (US$ millions)

Public and publicly guaranteed

RegionalWorld Bank IMF development banks

Others EBRD IFCTotal IBRD IDA conc. non-conc. conc. non-conc.

Albania 93.3 0.0 78.9 �2.9 �5.7 0.0 3.5 18.8 1.0 �0.2

Algeria �617.1 �129.5 0.0 0.0 �297.5 0.0 �33.3 �155.5 0.0 �1.3

Angola 14.9 0.0 17.9 0.0 0.0 �0.3 �2.6 �0.1 0.0 0.0

Argentina �2,220.1 �928.3 0.0 0.0 �743.0 0.0 �502.3 0.0 0.0 �46.4

Armenia 58.3 �0.4 66.5 15.0 �7.3 0.0 �6.1 �9.4 0.0 0.0

Azerbaijan �16.8 0.0 56.9 7.8 �46.4 0.0 0.6 11.2 �32.1 �14.8

Bangladesh 257.6 �5.5 195.0 �22.9 �65.1 84.6 6.2 56.6 0.0 8.7

Belarus �61.0 �9.8 0.0 0.0 �30.3 0.0 �15.3 �5.7 0.0 0.0

Belize 12.2 1.2 0.0 0.0 0.0 0.0 14.3 2.1 0.0 �5.4

Benin 37.5 0.0 20.1 �4.6 0.0 1.1 �0.3 21.2 0.0 0.0

Bhutan 21.8 0.0 5.2 0.0 0.0 13.3 0.0 3.3 0.0 0.0

Bolivia 194.5 0.0 96.4 �17.1 0.0 89.2 �54.4 77.5 0.0 2.8

Bosnia and Herzegovina 100.3 �23.1 96.8 0.0 18.2 0.0 �7.5 2.1 5.9 7.9

Botswana �30.0 �3.5 �0.5 0.0 0.0 �1.5 �12.0 �12.4 0.0 �0.1

Brazil 12,423.0 337.6 0.0 0.0 11,246.8 0.0 853.1 �6.5 0.0 �8.1

Bulgaria �113.3 2.1 0.0 0.0 �144.0 0.0 �13.7 31.4 �2.9 13.7

Burkina Faso 109.6 0.0 65.3 6.4 0.0 37.9 �1.8 1.8 0.0 0.0

Burundi 35.0 0.0 25.0 �2.5 12.5 0.0 0.0 �0.4 0.0 0.5

Cambodia 133.5 0.0 47.2 10.8 �1.4 69.9 0.0 7.0 0.0 0.0

Cameroon 41.8 �21.0 41.8 41.2 0.0 20.6 �40.2 �11.2 0.0 10.6

Cape Verde 25.2 0.0 21.7 3.2 0.0 2.8 �0.2 �2.3 0.0 0.0

Central African Republic 0.5 0.0 0.7 0.0 0.0 0.0 �0.2 0.0 0.0 0.0

Chad 101.9 0.3 70.3 12.7 0.0 11.2 0.0 5.8 0.0 1.7

Chile �244.4 �172.0 �0.7 0.0 0.0 �1.3 �76.2 �0.4 0.0 6.1

China �451.6 �576.9 94.7 0.0 0.0 0.0 2.2 �13.7 0.0 42.1

Colombia �152.4 248.8 �0.7 0.0 0.0 �13.2 �424.1 33.5 0.0 3.4

Comoros 9.0 0.0 11.1 �0.4 0.0 0.0 0.0 �1.8 0.0 0.0

Congo, Dem. Rep. of 317.0 �81.5 275.2 358.8 �203.4 �32.0 0.0 0.0 0.0 0.0

Congo, Rep. of �15.6 �6.5 �0.3 �3.6 �4.7 0.0 0.0 0.0 0.0 �0.5

Costa Rica �75.5 �11.1 �0.2 0.0 0.0 �10.9 �22.5 �44.5 0.0 13.8

Côte d’Ivoire �22.7 �89.9 161.2 �10.6 0.0 34.3 �109.4 �1.9 0.0 �6.4

Croatia 63.9 104.8 0.0 0.0 �125.9 0.0 11.5 31.1 32.2 10.2

Czech Republic 23.3 �41.0 0.0 0.0 0.0 0.0 0.0 39.7 35.8 �11.2

Djibouti 27.4 0.0 17.1 5.9 �2.3 4.1 0.0 2.6 0.0 0.0

Dominica 7.5 0.7 1.7 0.0 2.7 0.0 0.0 2.5 0.0 0.0

Dominican Republic 66.1 32.6 �0.7 0.0 �25.7 �16.1 80.2 �1.6 0.0 �2.5

Ecuador �4.8 �60.0 �1.1 0.0 97.9 �21.8 �25.4 8.2 0.0 �2.5

Egypt, Arab Rep. of �47.2 �46.6 20.5 0.0 0.0 0.6 �65.0 14.3 0.0 29.0

El Salvador 215.9 36.0 �0.8 0.0 0.0 �17.6 107.8 64.8 0.0 25.7

Equatorial Guinea �0.5 0.0 �0.5 �1.2 0.0 1.6 �0.4 0.0 0.0 0.0

Eritrea 65.7 0.0 46.2 0.0 0.0 11.9 0.0 7.6 0.0 0.0

Estonia 4.6 �35.2 0.0 0.0 �13.8 0.0 �4.3 0.7 53.0 4.3

Ethiopia 573.5 0.0 459.5 33.0 0.0 73.3 �19.7 27.3 0.0 0.0

Fiji �8.6 �3.8 0.0 0.0 0.0 0.0 0.3 �5.0 0.0 0.0

Gabon �22.6 �5.9 0.0 0.0 �13.1 0.0 �12.5 8.9 0.0 0.0

Gambia, The 27.0 0.0 14.3 3.7 0.0 4.7 �0.7 4.9 0.0 0.1

Georgia 58.7 0.0 61.3 11.2 �12.0 0.0 4.3 0.4 �16.5 9.9

Ghana 175.2 �1.2 88.7 63.4 0.0 36.1 �17.7 6.4 0.0 �0.6

Grenada 8.7 0.8 6.0 0.0 0.0 0.0 0.0 1.9 0.0 0.0

Guatemala 194.1 69.5 0.0 0.0 0.0 �6.4 163.3 �12.6 0.0 �19.8

Guinea 9.7 0.0 28.4 6.6 0.0 0.7 �12.4 �13.7 0.0 0.0

Guinea-Bissau 0.0 0.0 3.8 �1.2 �0.3 �0.8 �0.3 �1.0 0.0 �0.1

xlvii

Guyana 22.4 �2.8 5.6 �1.8 0.0 22.4 �4.5 3.4 0.0 0.3

Haiti �8.3 0.0 �0.1 �1.9 �7.3 1.3 0.0 �0.3 0.0 0.0

Honduras 26.5 �9.7 45.6 �4.2 �30.8 39.4 �19.2 7.8 0.0 �2.5

Hungary 126.0 �62.9 0.0 0.0 0.0 0.0 �18.9 201.3 10.3 �3.8

India �3,345.2 �2,383.4 429.8 0.0 0.0 0.0 �1,341.7 �17.8 0.0 �32.1

Indonesia �1,276.0 �706.0 59.8 0.0 �950.2 8.0 384.1 �37.5 0.0 �34.3

Iran, Islamic Rep. of �56.3 �56.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Jamaica 136.7 39.9 0.0 0.0 �18.7 �4.6 92.2 �0.3 0.0 28.3

Jordan 109.0 110.7 �2.6 0.0 13.6 0.0 0.0 �3.3 0.0 �9.5

Kazakhstan 132.9 35.9 0.0 0.0 0.0 0.0 4.4 19.6 68.0 5.0

Kenya �39.2 �11.8 23.6 �18.2 0.0 �1.0 �8.1 �8.2 0.0 �15.5

Kyrgyz Republic 34.6 0.0 33.4 �1.4 �7.0 27.2 �7.4 6.4 �11.6 �5.0

Lao PDR 76.4 0.0 27.2 2.6 0.0 43.7 0.0 1.8 0.0 1.2

Latvia 8.6 �2.8 0.0 0.0 �9.9 0.0 �12.7 18.2 16.5 �0.8

Lebanon 2.5 35.7 0.0 0.0 0.0 0.0 0.0 �23.1 0.0 �10.1

Lesotho 2.7 �21.3 18.5 5.3 0.0 3.7 �1.5 �1.9 0.0 0.0

Liberia �1.0 0.0 0.0 0.0 �0.3 0.0 0.0 0.0 0.0 �0.7

Lithuania �87.0 �9.7 0.0 0.0 �40.2 0.0 �7.8 �25.8 �8.2 4.8

Macedonia, FYR 18.0 9.6 18.2 �1.2 �7.6 0.0 �23.9 36.8 �11.9 �2.2

Madagascar 173.3 0.0 157.3 13.1 0.0 3.5 �5.8 5.9 0.0 �0.7

Malawi 74.5 �1.6 45.8 �7.3 22.5 17.4 �2.3 0.0 0.0 0.0

Malaysia �102.7 �70.0 0.0 0.0 0.0 0.0 �30.3 �2.4 0.0 0.0

Maldives 9.5 0.0 2.6 0.0 0.0 4.6 0.0 3.4 0.0 �1.2

Mali 75.9 0.0 87.5 �9.6 0.0 5.2 0.0 5.5 0.0 �12.7

Mauritania 79.0 0.0 40.7 10.0 0.0 11.0 2.1 19.6 0.0 �4.3

Mauritius 69.3 19.6 �0.6 0.0 0.0 �0.1 48.3 2.0 0.0 0.0

Mexico 492.5 �86.4 0.0 0.0 0.0 0.0 598.0 0.0 0.0 �19.2

Moldova 22.2 �4.4 21.9 12.0 �17.8 0.0 �3.1 �9.6 18.2 5.1

Mongolia 33.0 0.0 13.3 �7.7 0.0 26.0 0.0 1.4 0.0 0.0

Morocco �317.9 �222.3 �1.4 0.0 0.0 2.7 �284.4 193.6 0.0 �6.1

Mozambique 234.6 0.0 146.9 5.9 0.0 68.1 �1.1 15.0 0.0 �0.2

Myanmar �0.9 0.0 0.0 0.0 0.0 0.0 0.0 �0.9 0.0 0.0

Nepal 14.9 0.0 14.5 �4.5 0.0 1.9 0.0 3.0 0.0 0.0

Nicaragua 195.6 0.0 71.7 4.7 0.0 100.8 �1.1 20.3 0.0 �0.8

Niger 127.6 0.0 68.3 19.6 0.0 17.0 0.0 22.7 0.0 0.0

Nigeria �170.9 �176.1 7.6 0.0 0.0 27.1 �80.6 �1.8 0.0 53.0

Oman �13.2 �1.4 0.0 0.0 0.0 0.0 0.0 �9.9 0.0 �1.9

Pakistan 746.6 �208.5 851.3 297.0 �222.0 153.4 106.3 �173.7 0.0 �57.3

Panama 44.1 3.2 0.0 0.0 �8.1 �9.5 50.3 4.5 0.0 3.7

Papua New Guinea �23.1 �14.2 �3.4 0.0 0.0 �2.4 �2.5 �0.6 0.0 0.0

Paraguay �2.7 �1.9 �1.4 0.0 0.0 �10.4 13.8 �2.6 0.0 �0.1

Peru 298.8 �16.8 0.0 0.0 �173.3 �5.0 168.8 307.0 0.0 18.1

Philippines �562.5 �143.8 �5.2 0.0 �405.3 �1.2 �18.6 �0.8 0.0 12.3

Poland 56.6 �33.3 0.0 0.0 0.0 0.0 0.0 0.0 96.0 �6.1

Romania 276.9 214.3 0.0 0.0 9.0 0.0 9.9 �16.1 65.3 �5.4

Russian Federation �1,424.8 �296.3 0.0 0.0 �1,486.0 0.0 �15.4 0.1 370.6 2.1

Rwanda 76.3 0.0 73.2 0.7 �2.5 6.5 �0.1 �1.7 0.0 0.0

Samoa �1.0 0.0 0.4 0.0 0.0 �0.6 0.0 �0.7 0.0 0.0

São Tomé and Principe 0.4 0.0 0.9 0.0 0.0 0.3 0.0 �0.9 0.0 0.0

Senegal 134.4 0.0 108.4 �10.8 0.0 18.2 �14.6 31.8 0.0 1.4

Serbia and Montenegro 539.4 0.0 159.4 0.0 259.0 0.0 33.3 50.9 32.3 4.5

Seychelles �3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 �3.2





xlviii

Sierra Leone 90.9 0.0 43.0 35.5 0.0 14.2 0.0 �0.5 0.0 �1.2

Slovak Republic �7.1 �21.9 0.0 0.0 0.0 0.0 �1.2 2.1 14.9 �1.0

Solomon Islands �0.1 0.0 �0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Somalia 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

South Africa 5.6 5.1 0.0 0.0 0.0 0.0 �0.8 0.0 0.0 1.2

Sri Lanka 245.3 �4.4 58.9 �50.8 125.2 70.0 37.2 4.0 0.0 5.2

St. Kitts and Nevis 19.0 2.1 0.0 0.0 �1.1 0.0 0.0 18.0 0.0 0.0

St. Lucia 10.8 0.3 7.1 0.0 0.0 0.0 0.0 3.3 0.0 0.0

St. Vincent and the Grenadines 4.9 0.0 1.7 0.0 0.0 0.0 0.0 3.1 0.0 0.0

Sudan �22.3 0.0 �0.3 0.0 �22.0 0.0 0.0 0.0 0.0 0.0

Swaziland 1.8 0.1 �0.3 0.0 0.0 2.7 �2.6 2.3 0.0 �0.4

Syrian Arab Republic �57.3 �6.2 �1.5 0.0 0.0 0.0 0.0 �49.7 0.0 0.0

Tajikistan �8.3 0.0 9.6 �14.2 �9.7 14.1 0.0 �7.6 0.0 �0.5

Tanzania 206.9 �2.4 142.8 47.0 0.0 14.2 �0.8 10.6 0.0 �4.4

Thailand �3,460.9 �695.8 �3.4 0.0 �1,360.0 �2.6 �1,274.1 �74.9 0.0 �50.1

Togo �0.2 0.0 6.8 �9.4 0.0 0.0 0.0 2.7 0.0 �0.2

Tonga 4.3 0.0 0.1 0.0 0.0 4.4 0.0 �0.2 0.0 0.0

Trinidad and Tobago �0.3 �3.1 0.0 0.0 0.0 �0.1 �19.7 6.2 0.0 16.4

Tunisia 116.0 �36.9 �2.1 0.0 0.0 0.0 85.2 69.8 0.0 0.0

Turkey 7,006.0 594.3 �5.9 0.0 6,490.9 0.0 0.0 �103.3 0.0 30.0

Turkmenistan �37.9 0.7 0.0 0.0 0.0 0.0 �5.4 �0.7 �32.6 0.0

Uganda 83.4 0.0 95.8 �17.0 0.0 14.7 �0.7 �4.0 0.0 �5.3

Ukraine �262.8 �76.4 0.0 0.0 �182.3 0.0 �26.0 �61.8 83.6 0.0

Uruguay 2,214.1 158.3 0.0 0.0 1,559.8 �1.7 488.2 0.6 0.0 9.0

Uzbekistan 3.7 21.5 0.0 0.0 �21.5 6.8 5.2 0.0 �13.5 5.4

Vanuatu �1.2 0.0 �0.2 0.0 0.0 0.2 0.0 0.0 0.0 �1.1

Venezuela, R. B. de 140.1 �169.1 0.0 0.0 0.0 0.0 45.7 271.0 0.0 �7.5

Vietnam 431.1 0.0 258.9 �9.0 �5.2 175.1 20.0 6.6 0.0 �15.3

Yemen, Republic of 44.7 0.0 63.9 0.0 �17.6 0.0 0.0 �1.4 0.0 �0.3

Zambia 259.3 �6.4 140.5 109.8 0.0 22.8 �11.0 �15.9 0.0 19.5

Zimbabwe �7.4 0.0 0.0 �1.1 �1.9 0.0 �0.7 1.6 0.0 �5.3

All developing countries 15,462.6 �5,733.5 5,524.6 905.8 13,108.0 1,284.9 �1,288.6 918.6 774.3 �31.5

East Asia & Pacific �5,210.0 �2,210.6 489.4 �3.3 �2,722.1 320.6 �919.0 �119.8 0.0 �45.2

Europe & Central Asia 6,608.4 366.0 597.0 26.2 4,609.8 48.1 �95.9 231.0 774.3 51.9

Latin America & the Caribbean 14,019.3 �530.2 230.1 �20.4 11,899.2 134.3 1,526.4 767.1 0.0 12.7

Middle East & North Africa �809.4 �352.8 94.1 5.9 �303.8 7.4 �297.5 37.5 0.0 �0.2

South Asia �2,049.5 �2,601.9 1,557.4 218.9 �161.9 327.6 �1,192.0 �121.1 0.0 �76.7

Sub-Saharan Africa 2,903.8 �404.1 2,556.6 678.4 �213.3 447.0 �310.5 123.8 0.0 26.0

Low-income 253.8 �3,720.2 4,753.6 959.7 �1,583.3 1,166.6 �1,159.7 �6.0 �55.5 �101.6

Middle-income 15,208.8 �2,013.3 771.0 �53.9 14,691.3 118.3 �128.9 924.5 829.8 70.1

Heavily indebted poor countries 3,958.6 �234.6 3,033.8 647.5 �251.9 869.4 �306.8 235.0 0.0 �33.8

Note: Loans from major regional developments banks, the IMF, and the World Bank are classified as concessional according to each institution’s classification. Otherwise, concessionality of flows is as defined

by DAC. EBRD and IFC data are for loans to the private sector without government guarantees. Data include only debt flows.





xlix

All developing countries

Billions of US dollars

�2.0

18.0

16.0

14.0

12.0

10.0

8.0

6.0

4.0

2.0

0.0

TotalMult.

WorldBank

IMF OthersRegionalBanks

East Asia & Pacific


�6.0

�5.0

�4.0

�3.0

�2.0

�1.0

0.0

TotalMult.

WorldBank


Latin America & the Caribbean


�2.0

0.0

2.0

4.0

8.0

6.0

12.0

10.0

16.0

14.0

TotalMult.

WorldBank


South Asia


�2.5

�2.0

�1.5

�1.0

�0.5

0.0

0.5

TotalMult.

WorldBank


Europe & Central Asia


�1.0

0.0

1.0

2.0

3.0

4.0

7.0

6.0

5.0

TotalMult.

World Bank


Middle East & North Africa


TotalMult.

WorldBank


�0.8�0.9

�0.6�0.7

�0.5�0.4�0.3�0.2�0.1

0.10.0

Sub-Saharan Africa


0.0

0.5

1.0

1.5

2.0

2.5

3.5

3.0

TotalMult.

WorldBank


Table 6: NET FINANCIAL FLOWS FROM MULTILATERAL INSTITUTIONS, 2001

l

Table 7: INTERNATIONAL BOND ISSUES, NEW AND OUTSTANDING(US$ millions)

Outstanding New Issues

2001 2002 2001 2002Repayments

PPG Brady PNG PPG Brady PNG PPG PNG PPG PNGBonds Bonds Bonds Bonds Bonds Bonds Total Bonds Bonds Total Bonds Bonds 2001 2002

Argentina 43,239 6,241 9,834 47,757 4,987 9,834 3,328 3,159 169 155 155 .. 6,811 69

Belize 72 .. .. 212 .. .. .. .. .. 143 143 .. 3 3

Bosnia and Herzegovina 333 .. .. 333 .. .. .. .. .. .. .. .. .. ..

Brazil 28,774 17,472 17,637 33,361 16,707 16,476 10,800 7,870 2,930 6,827 4,772 2,055 9,096 5,307

Bulgaria 220 4,759 .. 2,409 2,489 .. 224 224 .. .. .. .. 22 79

Chile 650 .. 7,173 2,390 .. 7,174 1,931 650 1,281 1,708 1,708 .. 404 94

China 11,852 .. 770 10,568 .. 308 1,486 1,486 .. 100 100 .. 1,086 1,389

Colombia 10,226 .. 658 10,713 .. 658 3,045 3,045 .. 1,257 1,257 .. 1,083 1,190

Congo, Dem. Rep. of 3 .. .. 2 .. .. .. .. .. .. .. .. .. ..

Costa Rica 1,020 480 .. 1,013 443 .. 250 250 .. .. .. .. 42 44

Côte d’Ivoire 2,343 .. .. 2,343 .. .. .. .. .. .. .. .. .. ..

Croatia 3,772 .. .. 4,179 .. .. 1,024 1,024 .. 672 672 .. 234 699

Czech Republic 1,237 .. 200 1,568 .. 200 54 54 .. 430 430 .. 316 250

Dominica 30 .. .. 30 .. .. .. .. .. .. .. .. .. ..

Dominican Republic 500 487 .. 500 467 .. 500 500 .. .. .. .. 20 20

Ecuador 3,950 .. .. 3,950 .. .. .. .. .. .. .. .. .. ..

Egypt, Arab Rep. of 1,500 .. 100 1,500 .. 100 1,500 1,500 .. .. .. .. .. ..

El Salvador 558 .. .. 1,809 .. .. 356 356 .. 1,252 1,252 .. .. ..

Estonia 29 .. 291 350 .. 245 62 .. 62 283 283 .. .. 65

Ghana .. .. 250 .. .. 250 .. .. .. .. .. .. .. ..

Guatemala 215 .. .. 182 .. .. .. .. .. .. .. .. 31 31

Hungary 10,079 .. 184 10,601 .. 199 1,299 1,299 .. 360 360 .. 1,205 1,103

India 10,101 .. 1,313 10,049 .. 1,183 .. .. .. 240 .. 240 131 512

Indonesia 945 .. 4,981 779 .. 4,511 .. .. .. 450 300 150 1,376 856

Jamaica 1,810 .. .. 1,943 .. .. 819 819 .. 300 300 .. .. 230

Jordan 51 496 .. 50 486 .. .. .. .. .. .. .. 45 10

Kazakhstan 1,000 .. 100 650 .. 400 100 .. 100 300 .. 300 100 350

Latvia 375 .. .. 446 .. .. 179 179 .. .. .. .. .. ..

Lebanon 7,612 .. 836 12,517 .. 701 3,100 2,900 200 5,560 5,420 140 600 934

Lithuania 1,258 .. 37 1,258 .. 39 179 179 .. .. .. .. .. 200

Malaysia 10,804 .. 3,825 13,464 .. 3,260 2,250 1,700 550 3,838 3,838 .. 786 1,876

Mexico 42,577 7,337 20,181 42,720 5,573 19,079 11,285 9,600 1,685 6,871 4,367 2,504 12,936 10,769

Moldova 40 .. .. 37 .. .. .. .. .. .. .. .. 25 43

Morocco 114 .. .. 102 .. .. .. .. .. .. .. .. 29 31

Nigeria 2,051 .. .. 1,441 .. .. .. .. .. .. .. .. .. 452

Oman 225 .. .. .. .. .. .. .. .. .. .. .. .. 225

Pakistan 623 .. .. 445 .. .. .. .. .. .. .. .. 45 178

Panama 3,369 1,512 520 3,945 975 427 1,390 1,123 267 930 930 .. 376 917

Peru 0 3,727 150 1,923 2,501 150 .. .. .. 1,923 1,923 .. .. 1,204

Philippines 9,718 0 3,824 10,740 0 3,537 3,137 2,550 587 4,440 3,742 698 1,346 2,901

Poland 3,571 4,167 3,784 6,796 2,815 3,740 2,021 1,596 425 2,709 2,709 .. 430 1,402

Romania 1,064 .. 0 1,101 .. 120 672 672 .. 262 142 120 297 290

Russian Federation 35,279 .. 1,734 36,797 .. 4,526 528 .. 528 3,493 .. 3,493 1,207 747

Slovak Republic 2,379 .. .. 2,512 .. .. .. .. .. .. .. .. 283 189

South Africa 4,847 .. 2,307 6,903 .. 3,573 2,472 1,222 1,250 4,026 2,472 1,554 534 839

Sri Lanka 224 .. .. 224 .. .. 159 159 .. .. .. .. .. ..

Thailand 2,399 .. 6,972 2,142 .. 6,263 288 288 .. 48 .. 48 1,893 1,058

Trinidad and Tobago 1,013 .. 110 1,022 .. 110 .. .. .. .. .. .. .. ..

Tunisia 1,642 .. .. 2,433 .. .. 453 453 .. 650 650 .. .. ..

Turkey 20,800 .. 1,652 23,312 .. 1,882 2,138 2,138 .. 3,509 3,309 200 2,631 2,553

Uganda 4 .. .. 4 .. .. .. .. .. .. .. .. .. ..

Ukraine 2,211 .. .. 2,523 .. .. .. .. .. 399 399 .. 133 298

li

Uruguay 2,733 509 300 2,941 475 300 1,070 1,070 .. 450 450 .. 557 373

Venezuela, R. B. de 7,185 8,692 4,357 7,262 8,014 4,271 1,263 763 500 212 212 .. 1,038 1,278

Vietnam 560 .. .. 560 .. .. .. .. .. .. .. .. .. ..

All developing countries 299,967 55,879 94,078 335,759 45,933 93,515 59,358 48,824 10,534 53,796 42,295 11,501 47,154 41,057

East Asia & Pacific 36,278 0 20,372 38,252 0 17,878 7,161 6,024 1,137 8,877 7,980 896 6,488 8,079

Europe & Central Asia 83,645 8,926 7,982 94,872 5,304 11,351 8,479 7,364 1,115 12,417 8,304 4,113 6,885 8,268

Latin America & the Caribbean 147,921 46,457 60,918 163,672 40,143 58,479 36,035 29,203 6,832 22,026 17,468 4,558 32,397 21,528

Middle East & North Africa 11,927 496 936 17,552 486 801 5,053 4,853 200 6,210 6,070 140 674 1,200

South Asia 10,947 0 1,313 10,718 0 1,183 .. 159 .. .. .. 240 176 690

Sub-Saharan Africa 9,248 0 2,557 10,693 0 3,823 2,472 1,222 1,250 4,026 2,472 1,554 534 1,291

Low-income 16,669 0 6,544 15,660 0 5,943 .. .. .. 690 300 390 1,578 2,041

Middle-income 283,298 55,879 87,534 320,100 45,933 87,572 59,358 48,824 10,534 53,106 41,995 11,111 45,576 39,015

Heavily indebted poor countries 2,909 0 250 2,908 0 250 .. .. .. .. .. .. .. ..

Note: PPG bonds exclude Brady bonds. PPG is public and publicly guaranteed; PNG is private non-guaranteed.

Table 7: INTERNATIONAL BOND ISSUES, NEW AND OUTSTANDING(US$ millions)

Outstanding New Issues

2001 2002 2001 2002Repayments

PPG Brady PNG PPG Brady PNG PPG PNG PPG PNGBonds Bonds Bonds Bonds Bonds Bonds Total Bonds Bonds Total Bonds Bonds 2001 2002

Repayment profile of PPG bonds (excluding Brady bonds)

Millions of US dollars

0

403530252015105

2003 2007 2011 2015 2019 2023 2023�

2003 2007 2011 2015 2019 2023 2023�

2003 2007 2011 2015 2019 2023 2023�

Repayment profile of Brady bonds


0

14

12

10

8

6

2

4

Repayment profile of PNG bonds


Note: PPG bonds exclude Brady bonds. PPG is public and publicly guaranteed; PNG is private non-guaranteed.

0

18

1416

12108642

T A B L E O F C O N T E N T S

liii


liv

Regional and income group aggregate tables

.

2 3/17/04 12:13 PMALL DEVELOPING COUNTRIES

(US$ million, unless otherwise indicated)

1970 1980 1990 1997 1998 1999 2000 2001 2002 2003

1. SUMMARY DEBT DATA

TOTAL DEBT STOCKS (EDT) 70,171 553,642 1,351,898 2,122,611 2,342,091 2,374,671 2,304,964 2,266,744 2,338,848 2,433,315Long-term debt (LDOD) 60,636 409,923 1,101,250 1,669,655 1,906,517 1,960,634 1,923,208 1,862,499 1,916,629 1,960,289Public and publicly guaranteed 45,434 341,667 1,041,159 1,314,943 1,406,043 1,423,356 1,376,523 1,323,611 1,376,348 1,427,453Private nonguaranteed 15,202 68,257 60,091 354,712 500,474 537,278 546,685 538,888 540,281 532,836Use of IMF credit 756 11,561 34,651 59,734 76,942 72,763 58,448 75,281 95,809 108,715Short-term debt .. 132,158 215,997 393,221 358,632 341,274 323,309 328,964 326,410 364,311of which interest arrears on LDOD .. 2,478 52,741 29,999 35,919 40,088 32,780 35,383 37,483 .. Official creditors .. 2,031 19,638 23,959 28,086 29,028 23,453 25,229 21,171 .. Private creditors .. 448 33,103 6,040 7,834 11,060 9,327 10,154 16,312 ..Memo: principal arrears on LDOD .. 2,548 59,785 75,371 85,372 83,098 63,358 61,700 65,147 .. Official creditors .. 1,247 27,263 58,966 64,749 64,182 46,911 46,961 42,096 .. Private creditors .. 1,302 32,522 16,406 20,623 18,916 16,447 14,740 23,051 ..Memo: export credits .. 0 274,268 347,097 191,901 183,467 173,453 167,811 181,550 ..

TOTAL DEBT FLOWS Disbursements 12,969 108,292 127,493 290,171 306,081 276,033 257,957 280,785 282,596 289,797Long-term debt 12,638 102,901 119,251 278,257 284,893 261,835 247,843 249,424 248,168 260,747IMF purchases 331 5,391 8,242 11,914 21,188 14,199 10,114 31,361 34,428 27,959Principal repayments 6,603 42,840 84,376 192,849 184,832 239,906 258,656 259,161 276,690 277,475Long-term debt 5,873 40,876 76,205 184,310 177,733 223,497 237,893 247,263 256,276 256,985IMF repurchases 730 1,963 8,171 8,539 7,099 16,410 20,763 11,898 20,414 19,960Net flows on debt 6,417 94,953 54,822 105,307 57,618 13,807 -9,821 -1,226 7,341 44,325of which short-term debt .. 29,501 11,705 7,986 -63,632 -22,320 -9,123 -22,851 1,435 32,005Interest payments (INT) .. 44,991 65,346 103,241 110,850 115,181 121,772 117,287 96,241 95,100Long-term debt 2,289 30,633 51,523 82,006 90,745 95,732 101,000 101,753 83,756 83,972IMF charges 0 454 2,500 2,207 2,502 2,843 2,881 2,671 2,971 2,053Short-term debt .. 13,904 11,323 19,028 17,602 16,606 17,891 12,863 9,513 9,075Net transfers on debt .. 49,962 -10,524 2,066 -53,232 -101,375 -131,594 -118,514 -88,900 -50,775Total debt service paid (TDS) .. 87,831 149,722 296,090 295,681 355,087 380,428 376,448 372,931 372,575Long-term debt 8,163 71,509 127,728 266,316 268,479 319,229 338,893 349,016 340,032 341,488IMF repurchases and charges 730 2,418 10,671 10,746 9,601 19,253 23,644 14,569 23,386 22,013Short-term debt (interest only) .. 13,904 11,323 19,028 17,602 16,606 17,891 12,863 9,513 9,075

2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM)

NET RESOURCE FLOWS 10,662 81,123 97,819 312,926 316,028 261,219 213,458 209,492 175,152 188,204Net flow of long-term debt (ex. IMF) 6,764 62,024 43,046 93,946 107,160 38,338 9,950 2,161 -8,108 4,322Foreign direct investment (net) 2,062 6,279 24,033 171,095 175,563 181,722 162,170 175,035 147,086 135,200Portfolio equity flows -2 -1 3,004 22,594 6,586 12,640 12,634 4,397 4,945 14,340Grants (excluding technical coop.) 1,838 12,821 27,737 25,290 26,719 28,519 28,705 27,899 31,228 34,342Memo: technical coop. grants 1,705 6,247 13,826 15,298 15,872 16,186 15,303 16,396 18,839 19,957 official net resource flows 5,128 33,294 54,126 35,066 46,853 44,426 33,457 35,321 21,321 20,032 private net resource flows 5,534 47,829 43,692 277,860 269,176 216,793 180,002 174,171 153,831 168,172

NET TRANSFERS 7,711 32,600 29,121 174,587 167,965 106,302 35,902 28,634 15,275 31,232Interest on long-term debt 2,289 30,633 51,523 82,006 90,745 95,732 101,000 101,753 83,756 83,972Profit remittances on FDI 662 17,890 17,175 56,333 57,318 59,185 76,556 79,105 76,121 73,000Memo: official net transfers 4,270 27,943 35,779 7,901 20,742 17,517 6,444 7,259 -2,873 -3,607 private net transfers 3,441 4,658 -6,658 166,686 147,222 88,785 29,458 21,374 18,148 34,839

3. MAJOR ECONOMIC AGGREGATES

Gross national income (GNI) 667,043 2,772,661 3,960,859 5,854,662 5,575,978 5,395,979 5,849,072 5,933,845 6,012,361 6,603,965Exports of goods, serv. & inc. (XGS) 4,359 644,914 806,777 1,627,987 1,550,776 1,628,457 1,964,797 1,945,197 2,100,486 2,479,101Worker remit. & comp. of employees 57 17,661 30,425 66,055 62,909 67,621 68,361 77,038 88,104 93,000Imports of goods & services (MGS) 4,815 634,838 829,510 1,734,021 1,672,918 1,653,902 1,933,168 1,945,210 2,053,138 2,442,149International reserves (RES) 13,482 191,879 199,028 631,404 647,760 685,738 730,177 810,978 996,900 1,249,509

4. DEBT INDICATORS

EDT / XGS (%) .. 85.8 167.6 130.4 151.0 145.8 117.3 116.5 111.3 98.2EDT / GNI (%) .. 20.0 34.1 36.3 42.0 44.0 39.4 38.2 38.9 36.8TDS / XGS (%) .. 13.6 18.6 18.2 19.1 21.8 19.4 19.4 17.8 15.0INT / XGS (%) .. 7.0 8.1 6.3 7.1 7.1 6.2 6.0 4.6 3.8INT / GNI (%) .. 1.6 1.6 1.8 2.0 2.1 2.1 2.0 1.6 1.4RES / EDT (%) .. 34.7 14.7 29.7 27.7 28.9 31.7 35.8 42.6 51.4RES / MGS (months) .. 3.6 2.9 4.4 4.6 5.0 4.5 5.0 5.8 6.1Short-term / EDT (%) .. 23.9 16.0 18.5 15.3 14.4 14.0 14.5 14.0 15.0Concessional / EDT (%) .. 16.2 20.4 16.3 16.3 16.9 16.5 16.2 17.2 17.7Multilateral / EDT (%) .. 8.3 15.0 13.3 13.5 14.0 14.4 14.9 15.3 15.4

3ALL DEVELOPING COUNTRIES

(US$ million, unless otherwise indicated)1970 1980 1990 1997 1998 1999 2000 2001 2002 2003

5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 60,636 409,923 1,101,250 1,669,655 1,906,517 1,960,634 1,923,208 1,862,499 1,916,629 1,960,289Public and publicly guaranteed 45,434 341,667 1,041,159 1,314,943 1,406,043 1,423,356 1,376,523 1,323,611 1,376,348 1,427,453Official creditors 33,044 149,984 550,864 731,373 789,476 808,368 780,664 750,786 776,284 805,434 Multilateral 7,282 46,228 203,197 282,773 317,112 333,270 332,657 337,717 357,110 374,720 Concessional 2,046 17,986 68,430 113,639 124,134 129,598 128,959 130,742 147,093 162,964 Bilateral 25,762 103,756 347,667 448,600 472,365 475,098 448,007 413,069 419,174 430,714 Concessional 22,132 71,732 206,918 232,609 258,520 272,423 250,606 237,407 254,249 267,411Private creditors 12,391 191,882 490,295 583,570 616,567 614,988 595,859 572,825 600,064 622,019 Bonds 1,797 12,795 104,308 288,646 323,000 341,463 368,386 355,846 381,692 416,299 Commercial banks 3,623 122,657 250,396 195,738 207,539 189,066 157,769 151,979 159,238 154,067 Other private 6,970 56,430 135,590 99,186 86,027 84,458 69,704 65,000 59,134 51,653Private nonguaranteed 15,202 68,257 60,091 354,712 500,474 537,278 546,685 538,888 540,281 532,836 Bonds 0 0 347 87,813 95,797 98,985 96,656 94,078 93,515 107,130 Commercial banks and other 15,202 68,257 59,745 266,899 404,677 438,293 450,029 444,810 446,766 425,706Memo: IBRD 4,377 20,431 92,278 101,508 108,436 111,312 112,131 112,519 111,292 108,796 IDA 1,806 11,775 45,005 77,398 84,088 86,604 86,843 89,220 100,613 113,277

DISBURSEMENTS 12,638 102,901 119,251 278,257 284,893 261,835 247,843 249,424 248,168 260,747Public and publicly guaranteed 8,512 81,998 101,925 163,381 162,112 144,852 138,134 124,589 115,474 140,444Official creditors 4,838 27,462 49,407 60,751 63,492 60,333 53,841 51,115 45,327 51,527 Multilateral 1,193 8,962 27,288 35,760 41,686 37,105 34,706 33,933 31,705 34,872 Concessional 255 2,823 6,821 9,184 8,919 8,801 8,033 9,390 9,720 9,640 Bilateral 3,645 18,500 22,119 24,991 21,806 23,228 19,135 17,182 13,622 16,655 Concessional 2,899 10,577 13,359 10,550 13,550 16,975 13,245 12,330 8,636 14,074Private creditors 3,674 54,536 52,518 102,630 98,620 84,519 84,294 73,475 70,147 88,916 Bonds 149 1,637 5,176 53,062 52,371 50,986 55,019 48,824 42,295 56,728 Commercial banks 1,368 32,946 16,299 31,813 34,995 21,613 21,417 18,522 23,151 26,865 Other private 2,157 19,953 31,043 17,755 11,254 11,920 7,857 6,129 4,701 5,324Private nonguaranteed 4,126 20,903 17,326 114,876 122,781 116,983 109,709 124,835 132,694 121,394 Bonds 0 0 291 28,702 19,863 13,763 11,367 10,534 11,501 21,502 Commercial banks and other 4,126 20,903 17,035 86,175 102,918 103,220 98,342 114,301 121,193 99,892Memo: IBRD 672 4,223 13,432 14,496 14,367 14,079 13,430 12,305 10,287 11,084 IDA 173 1,587 4,345 5,937 5,556 5,397 5,219 6,091 6,768 6,087

PRINCIPAL REPAYMENTS 5,873 40,876 76,205 184,310 177,733 223,497 237,893 247,263 256,276 256,985Public and publicly guaranteed 3,426 29,190 68,921 125,369 105,852 111,856 124,795 124,878 125,564 148,994Official creditors 1,548 6,989 23,017 50,975 43,358 44,426 49,089 43,692 55,235 65,837 Multilateral 386 1,558 11,885 19,355 18,387 18,952 23,150 18,823 31,019 36,400 Concessional 30 105 896 1,801 1,964 2,049 2,423 2,447 2,553 3,243 Bilateral 1,162 5,431 11,132 31,620 24,971 25,474 25,939 24,869 24,216 29,437 Concessional 668 2,474 4,819 10,309 11,534 11,977 12,539 10,736 10,433 15,098Private creditors 1,878 22,201 45,904 74,395 62,494 67,430 75,706 81,185 70,330 83,157 Bonds 143 513 4,392 33,941 22,825 23,201 35,322 36,689 28,396 37,317 Commercial banks 685 13,375 22,831 24,745 23,326 29,986 27,064 31,098 30,201 32,647 Other private 1,050 8,312 18,681 15,708 16,344 14,243 13,320 13,399 11,732 13,193Private nonguaranteed 2,448 11,687 7,283 58,941 71,881 111,641 113,098 122,385 130,712 108,521 Bonds 0 0 0 9,605 9,666 11,728 14,582 10,465 12,660 7,799 Commercial banks and other 2,448 11,687 7,283 49,336 62,215 99,913 98,515 111,921 118,051 100,722Memo: IBRD 248 996 7,932 10,611 10,483 9,830 9,824 9,803 16,020 17,523 IDA 0 30 248 646 732 869 949 1,085 1,243 1,518

NET FLOWS ON DEBT 6,764 62,024 43,046 93,946 107,160 38,338 9,950 2,161 -8,108 4,322Public and publicly guaranteed 5,086 52,808 33,004 38,011 56,260 32,996 13,339 -289 -10,090 -8,550Official creditors 3,290 20,473 26,390 9,776 20,134 15,907 4,752 7,422 -9,907 -14,310 Multilateral 807 7,404 15,403 16,405 23,299 18,153 11,556 15,109 686 -1,528 Concessional 225 2,718 5,925 7,383 6,955 6,752 5,610 6,943 7,166 6,397 Bilateral 2,483 13,069 10,986 -6,629 -3,165 -2,246 -6,804 -7,687 -10,593 -12,781 Concessional 2,231 8,103 8,540 240 2,016 4,998 705 1,594 -1,798 -1,024Private creditors 1,796 32,335 6,614 28,235 36,126 17,089 8,587 -7,711 -183 5,759 Bonds 6 1,123 785 19,121 29,546 27,785 19,698 12,135 13,898 19,410 Commercial banks 683 19,571 -6,532 7,068 11,669 -8,373 -5,647 -12,576 -7,050 -5,782 Other private 1,108 11,641 12,361 2,047 -5,089 -2,323 -5,463 -7,270 -7,031 -7,869Private nonguaranteed 1,678 9,216 10,042 55,935 50,900 5,342 -3,389 2,449 1,983 12,873 Bonds 0 0 291 19,097 10,197 2,035 -3,215 69 -1,159 13,703 Commercial banks and other 1,678 9,216 9,751 36,838 40,703 3,307 -174 2,380 3,142 -830Memo: IBRD 423 3,226 5,501 3,885 3,885 4,249 3,606 2,502 -5,734 -6,439 IDA 172 1,556 4,097 5,291 4,824 4,528 4,271 5,007 5,525 4,569



INTEREST PAYMENTS (LINT) 2,289 30,633 51,523 82,006 90,745 95,732 101,000 101,753 83,756 83,972Public and publicly guaranteed 1,537 23,947 46,943 62,451 62,112 63,571 67,920 71,072 58,620 59,125Official creditors 858 5,352 18,347 27,165 26,110 26,909 27,013 28,062 24,194 23,639 Multilateral 308 2,354 10,493 12,637 12,671 14,886 15,563 15,238 13,667 12,119 Concessional 20 164 620 1,090 1,138 1,201 1,196 1,175 1,344 1,505 Bilateral 551 2,998 7,854 14,527 13,439 12,023 11,450 12,824 10,527 11,520 Concessional 385 1,520 3,325 5,360 6,191 5,890 5,249 5,021 4,833 5,003Private creditors 678 18,596 28,595 35,287 36,001 36,662 40,908 43,011 34,426 35,486 Bonds 97 935 4,376 18,468 19,671 23,173 26,729 29,389 23,107 26,034 Commercial banks 253 13,893 17,512 11,033 11,159 9,157 10,418 10,201 8,957 7,594 Other private 328 3,767 6,707 5,785 5,171 4,332 3,760 3,421 2,362 1,858Private nonguaranteed 753 6,685 4,581 19,555 28,634 32,161 33,080 30,680 25,136 24,847 Bonds 0 0 3 5,454 6,918 7,551 7,971 7,895 6,866 6,804 Commercial banks and other 753 6,685 4,578 14,100 21,716 24,610 25,109 22,786 18,270 18,043Memo: IBRD 243 1,669 6,865 6,719 6,611 7,266 7,681 7,468 6,390 5,110 IDA 12 78 301 531 550 588 578 576 695 721

NET TRANSFERS ON DEBT 4,475 31,391 -8,477 11,940 16,415 -57,394 -91,050 -99,592 -91,864 -79,650Public and publicly guaranteed 3,550 28,861 -13,939 -24,440 -5,851 -30,575 -54,581 -71,361 -68,711 -67,676Official creditors 2,432 15,122 8,042 -17,389 -5,976 -11,002 -22,261 -20,639 -34,101 -37,949 Multilateral 500 5,050 4,910 3,768 10,628 3,268 -4,007 -128 -12,981 -13,647 Concessional 206 2,554 5,305 6,293 5,817 5,551 4,414 5,768 5,822 4,892 Bilateral 1,932 10,071 3,132 -21,157 -16,604 -14,269 -18,254 -20,511 -21,120 -24,302 Concessional 1,846 6,583 5,215 -5,120 -4,175 -891 -4,544 -3,427 -6,631 -6,027Private creditors 1,118 13,740 -21,981 -7,051 125 -19,573 -32,320 -50,722 -34,609 -29,727 Bonds -91 188 -3,591 653 9,875 4,613 -7,032 -17,254 -9,209 -6,623 Commercial banks 430 5,677 -24,044 -3,966 511 -17,530 -16,065 -22,777 -16,007 -13,376 Other private 779 7,874 5,654 -3,738 -10,261 -6,655 -9,224 -10,691 -9,394 -9,727Private nonguaranteed 925 2,530 5,462 36,380 22,266 -26,819 -36,469 -28,231 -23,153 -11,974 Bonds 0 0 288 13,643 3,279 -5,516 -11,186 -7,826 -8,026 6,899 Commercial banks and other 925 2,530 5,174 22,738 18,987 -21,303 -25,283 -20,405 -15,127 -18,873Memo: IBRD 181 1,557 -1,365 -2,834 -2,726 -3,017 -4,075 -4,966 -12,124 -11,549 IDA 161 1,478 3,796 4,760 4,274 3,940 3,693 4,430 4,830 3,847

DEBT SERVICE (LTDS) 8,163 71,509 127,728 266,316 268,479 319,229 338,893 349,016 340,032 341,488Public and publicly guaranteed 4,962 53,137 115,864 187,821 167,964 175,427 192,715 195,950 184,185 208,119Official creditors 2,406 12,341 41,365 78,140 69,468 71,335 76,101 71,754 79,428 89,477 Multilateral 694 3,912 22,378 31,992 31,058 33,838 38,713 34,061 44,686 48,519 Concessional 49 269 1,516 2,891 3,103 3,250 3,619 3,622 3,897 4,748 Bilateral 1,713 8,428 18,987 46,148 38,411 37,497 37,389 37,693 34,743 40,957 Concessional 1,054 3,993 8,144 15,669 17,725 17,866 17,789 15,757 15,266 20,101Private creditors 2,556 40,796 74,499 109,681 98,495 104,092 116,614 124,196 104,756 118,643 Bonds 240 1,449 8,768 52,409 42,496 46,374 62,051 66,078 51,504 63,351 Commercial banks 938 27,269 40,343 35,778 34,484 39,143 37,482 41,299 39,158 40,241 Other private 1,378 12,079 25,389 21,493 21,515 18,575 17,081 16,819 14,094 15,051Private nonguaranteed 3,200 18,372 11,864 78,496 100,515 143,802 146,178 153,066 155,847 133,368 Bonds 0 0 3 15,059 16,584 19,279 22,554 18,360 19,527 14,603 Commercial banks and other 3,200 18,372 11,861 63,437 83,931 124,523 123,624 134,706 136,321 118,765Memo: IBRD 491 2,666 14,797 17,330 17,094 17,096 17,505 17,271 22,411 22,632 IDA 12 109 549 1,177 1,282 1,457 1,527 1,661 1,938 2,240

UNDISBURSED DEBT 16,777 136,633 217,438 250,584 277,567 301,280 231,148 202,060 196,134 ..Official creditors 13,165 88,000 162,276 188,719 213,702 241,409 178,688 163,485 161,729 ..Private creditors 3,612 48,633 55,163 61,865 63,865 59,871 52,459 38,574 34,405 ..Memorandum items Concessional LDOD 24,178 89,718 275,348 346,248 382,654 402,022 379,565 368,149 401,342 .. Variable rate LDOD 15,964 184,831 431,276 818,332 980,939 990,065 940,630 910,294 914,212 .. Public sector LDOD 44,159 331,618 1,032,735 1,302,551 1,385,494 1,394,342 1,349,614 1,300,105 1,350,436 .. Private sector LDOD 16,477 78,505 68,515 367,104 521,023 566,292 573,594 562,395 566,194 ..

6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT)

Euro .. .. .. .. .. .. .. 13.9 15.3 ..Deutsche mark 8.6 7.2 9.1 8.0 8.3 6.7 5.7 .. .. ..French franc 5.3 6.1 6.0 4.1 4.0 3.3 2.9 .. .. ..Japanese yen 2.1 6.9 10.7 10.7 11.1 12.5 11.5 10.4 10.8 ..Pound sterling 11.2 3.7 2.4 1.6 1.4 1.3 1.0 0.9 0.9 ..Swiss franc 1.1 1.6 2.0 0.6 0.5 0.4 0.4 0.4 0.5 ..U.S.dollars 46.0 53.0 43.6 55.0 57.6 58.0 61.3 62.9 61.9 ..Multiple currency 11.9 11.5 15.3 12.0 8.3 8.2 7.5 7.0 6.2 ..Special drawing rights 0.0 0.0 0.3 0.3 0.4 0.4 0.4 0.4 0.4 ..All other currencies 13.7 9.2 10.5 7.3 7.5 7.8 7.9 4.0 4.0 ..



7. DEBT RESTRUCTURINGS

Total amount rescheduled 117 3,325 79,328 49,093 18,555 31,052 60,847 56,651 18,200 .. Debt stock rescheduled 0 1 61,849 1,326 8,117 7,350 23,181 30,225 2,822 .. Principal rescheduled 0 393 10,277 35,347 6,412 13,616 20,885 9,404 9,063 .. Official 0 137 5,826 6,847 4,508 9,783 17,160 6,666 8,099 .. Private 0 257 4,451 28,500 1,904 3,833 3,725 2,738 964 .. Interest rescheduled 0 71 5,799 9,039 1,584 6,973 14,038 1,114 3,934 .. Official 0 38 4,577 2,463 1,204 6,297 11,238 884 3,720 .. Private 0 33 1,221 6,576 381 676 2,800 230 214 ..Debt forgiven 10 276 12,628 3,345 605 4,826 943 1,653 5,018 .. Memo: interest forgiven 0 0 2,890 605 598 531 1,994 1,497 2,327 ..Debt stock reduction 0 0 26,145 18,823 4,001 7,867 41,595 46,533 8,475 .. of which debt buyback 0 0 4,359 10,050 3,008 5,345 17,016 13,639 4,272 ..

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks 22,462 109,184 97,686 66,480 219,481 32,580 -69,707 -38,220 72,104 .. Net flows on debt 6,417 94,953 54,822 105,307 57,618 13,807 -9,821 -1,226 7,341 44,325 Net change in interest arrears 15 623 15,566 -8,953 5,920 4,169 -7,308 2,603 2,100 .. Interest capitalized 0 71 5,799 9,039 1,584 6,973 14,038 1,114 3,934 .. Debt forgiveness or reduction -10 -276 -34,414 -12,118 -1,598 -7,348 -25,522 -34,548 -9,221 .. Cross-currency valuation -421 -4,650 46,571 -77,759 29,140 -18,206 -52,664 -40,520 71,375 .. Residual 16,461 18,463 9,342 50,964 126,816 33,186 11,571 34,357 -3,426 ..

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 5.0 9.1 7.0 6.6 6.5 6.4 7.0 5.7 5.2 .. Maturity (years) 21.2 16.0 17.0 14.0 13.5 13.6 13.6 14.5 14.9 .. Grace period (years) 6.5 4.8 5.7 6.8 5.7 5.7 7.1 6.4 6.7 .. Grant element (%) 32.5 8.3 19.7 17.6 17.3 20.8 15.3 24.5 28.1 ..Official creditors Interest (%) 3.6 5.3 5.5 5.2 5.2 4.3 4.9 3.9 2.9 .. Maturity (years) 28.3 24.3 22.3 19.8 17.7 19.8 19.9 20.9 22.4 .. Grace period (years) 9.1 6.3 6.6 5.5 4.5 5.6 5.2 5.4 6.0 .. Grant element (%) 45.4 30.3 31.9 29.9 27.3 37.7 33.0 39.9 47.6 ..Private creditors Interest (%) 7.2 11.8 8.5 7.4 7.6 8.1 8.0 7.1 6.9 .. Maturity (years) 9.5 9.9 11.3 10.5 10.1 8.6 10.3 9.4 9.5 .. Grace period (years) 2.4 3.7 4.9 7.7 6.8 5.8 8.0 7.2 7.1 .. Grant element (%) 11.5 -7.8 7.0 10.2 9.1 7.2 6.1 12.4 14.0 ..Memorandum items Commitments 11,392 94,470 119,826 181,403 186,997 147,544 143,613 141,053 103,968 .. Official creditors 7,050 39,947 61,262 68,559 84,261 65,870 48,776 62,051 43,521 .. Private creditors 4,342 54,523 58,564 112,844 102,735 81,674 94,837 79,002 60,446 ..

10. GRAPH OF AGGREGATE NET RESOURCE FLOWS

(current prices, US$ billion)

Aggregate Net Resource Flows

0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

1996 1997 1998 1999 2000 2001 2002 2003

Private flows Official flows

Private Flows

-50.0 0.0 50.0 100.0 150.0 200.0 250.0

1996

1997

1998

1999

2000

2001

2002

2003

Private non-debt flows Private debt flows

Official Flows

-20.0 -10.0 0.0 10.0 20.0 30.0 40.0

1996

1997

1998

1999

2000

2001

2002

2003

Multilateral Bilateral Grants

6 3/17/04 12:10 PMEAST ASIA AND PACIFIC


1970 1980 1990 1997 1998 1999 2000 2001 2002 2003


TOTAL DEBT STOCKS (EDT) 8,582 60,730 234,092 526,312 533,178 538,604 497,272 501,273 497,354 514,713Long-term debt (LDOD) 7,092 45,081 194,633 387,326 432,731 448,790 417,660 397,070 386,285 391,314Public and publicly guaranteed 5,088 36,330 172,998 265,028 274,041 291,465 268,213 264,294 266,176 276,073Private nonguaranteed 2,004 8,751 21,635 122,298 158,691 157,324 149,447 132,777 120,109 115,242Use of IMF credit 224 1,551 2,085 6,933 14,511 16,056 16,452 13,384 11,618 11,337Short-term debt .. 14,098 37,374 132,054 85,936 73,759 63,161 90,819 99,451 112,062of which interest arrears on LDOD .. 2 1,885 1,883 2,109 5,810 5,339 6,367 7,294 .. Official creditors .. 1 1,135 1,824 2,051 2,257 662 690 835 .. Private creditors .. 1 751 59 58 3,553 4,677 5,677 6,459 ..Memo: principal arrears on LDOD .. 5 2,965 9,629 13,337 14,591 7,424 7,528 7,901 .. Official creditors .. 1 1,790 9,389 10,377 11,339 4,192 4,299 4,646 .. Private creditors .. 4 1,175 240 2,960 3,252 3,231 3,230 3,255 ..Memo: export credits .. 0 28,038 80,589 34,412 34,479 32,179 30,178 32,266 ..

TOTAL DEBT FLOWS Disbursements 1,584 12,795 29,510 78,755 48,395 50,908 40,332 45,615 49,811 45,160Long-term debt 1,518 12,271 29,452 72,532 41,214 48,886 38,839 45,011 48,298 43,716IMF purchases 66 524 58 6,222 7,181 2,022 1,493 604 1,513 1,444Principal repayments 618 4,271 18,662 38,555 37,518 49,203 47,925 54,409 68,464 56,698Long-term debt 612 4,066 17,377 38,280 37,348 49,085 47,657 51,287 64,225 54,764IMF repurchases 6 205 1,286 276 170 118 267 3,121 4,238 1,934Net flows on debt 966 11,905 18,643 44,861 -32,464 -12,174 -17,720 -8,064 -10,948 523of which short-term debt .. 3,380 7,795 4,662 -43,341 -13,878 -10,127 729 7,704 12,061Interest payments (INT) .. 4,814 12,510 24,814 24,426 24,625 24,951 22,725 17,871 16,790Long-term debt 162 3,000 10,155 17,860 19,024 20,219 20,352 18,658 14,432 13,565IMF charges 0 60 245 51 361 565 793 692 360 129Short-term debt .. 1,754 2,110 6,903 5,041 3,841 3,806 3,375 3,079 3,096Net transfers on debt .. 7,091 6,133 20,047 -56,890 -36,799 -42,671 -30,588 -28,820 -16,267Total debt service paid (TDS) .. 9,085 31,172 63,370 61,944 73,828 72,876 77,134 86,335 73,489Long-term debt 774 7,065 27,531 56,140 56,372 69,304 68,009 69,945 78,657 68,329IMF repurchases and charges 6 265 1,531 327 531 683 1,060 3,814 4,598 2,063Short-term debt (interest only) .. 1,754 2,110 6,903 5,041 3,841 3,806 3,375 3,079 3,096


NET RESOURCE FLOWS 1,731 10,645 25,108 94,829 60,539 54,580 42,683 45,113 44,599 52,770Net flow of long-term debt (ex. IMF) 906 8,206 12,075 34,253 3,866 -199 -8,818 -6,276 -15,927 -11,048Foreign direct investment (net) 201 1,312 10,513 62,138 57,662 49,950 44,236 48,205 54,834 56,800Portfolio equity flows 0 -4 439 -3,917 -3,449 2,322 4,768 1,020 3,493 4,800Grants (excluding technical coop.) 624 1,131 2,081 2,356 2,460 2,508 2,498 2,164 2,199 2,218Memo: technical coop. grants 386 1,000 2,398 2,740 2,677 2,656 2,903 2,721 2,873 2,896 official net resource flows 1,091 3,515 7,929 13,670 10,128 13,174 8,247 7,886 -2,925 -6,168 private net resource flows 640 7,130 17,179 81,160 50,411 41,406 34,436 37,226 47,523 58,938

NET TRANSFERS 1,569 5,971 9,795 54,247 18,834 8,562 -9,884 -5,965 1,723 11,805Interest on long-term debt 162 3,000 10,155 17,860 19,024 20,219 20,352 18,658 14,432 13,565Profit remittances on FDI 0 1,675 5,159 22,722 22,681 25,799 32,216 32,419 28,443 27,400Memo: official net transfers 1,030 2,805 4,256 8,017 4,212 6,378 977 441 -8,418 -11,437 private net transfers 539 3,165 5,538 46,231 14,621 2,185 -10,861 -6,405 10,141 23,242


Gross national income (GNI) 123,674 365,374 655,413 1,478,999 1,315,650 1,432,985 1,545,770 1,622,368 1,776,318 1,953,646Exports of goods, serv. & inc. (XGS) 0 33,927 175,980 524,080 488,475 530,771 642,687 629,163 715,103 864,219Worker remit. & comp. of employees 0 1,025 3,014 15,892 9,811 12,130 12,175 13,674 16,984 17,600Imports of goods & services (MGS) 0 39,650 181,985 509,648 434,195 477,280 597,103 598,548 666,864 826,852International reserves (RES) 2,124 30,740 71,348 224,842 246,835 274,780 284,198 333,838 426,479 551,122

4. DEBT INDICATORS


7EAST ASIA AND PACIFIC


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 7,092 45,081 194,633 387,326 432,731 448,790 417,660 397,070 386,285 391,314Public and publicly guaranteed 5,088 36,330 172,998 265,028 274,041 291,465 268,213 264,294 266,176 276,073Official creditors 4,134 18,096 104,730 145,553 164,573 184,280 171,763 167,112 171,655 179,608 Multilateral 451 5,449 34,976 51,435 59,603 64,404 65,822 66,147 66,197 67,183 Concessional 9 1,193 7,344 14,726 16,676 17,688 17,391 17,441 19,622 21,851 Bilateral 3,683 12,647 69,754 94,118 104,970 119,876 105,941 100,965 105,458 112,425 Concessional 3,132 10,413 61,561 59,562 77,541 90,167 86,750 82,479 89,123 96,414Private creditors 954 18,235 68,268 119,475 109,467 107,186 96,450 97,182 94,521 96,465 Bonds 125 1,655 11,814 31,625 33,422 34,663 33,038 36,278 38,252 49,319 Commercial banks 303 9,242 35,213 51,973 49,516 39,062 32,940 31,636 28,454 22,802 Other private 525 7,338 21,240 35,876 26,530 33,461 30,473 29,268 27,815 24,344Private nonguaranteed 2,004 8,751 21,635 122,298 158,691 157,324 149,447 132,777 120,109 115,242 Bonds 0 0 160 32,509 30,571 28,890 24,766 20,372 17,878 19,137 Commercial banks and other 2,004 8,751 21,476 89,789 128,119 128,434 124,681 112,405 102,232 96,105Memo: IBRD 434 3,229 20,176 25,194 28,026 29,757 30,476 30,310 28,656 26,968 IDA 6 848 5,130 10,908 12,131 12,513 12,520 12,701 14,108 16,122

DISBURSEMENTS 1,518 12,271 29,452 72,532 41,214 48,886 38,839 45,011 48,298 43,716Public and publicly guaranteed 755 9,360 19,611 45,886 29,286 34,285 25,393 25,262 22,265 23,720Official creditors 546 3,042 10,113 20,283 15,749 20,603 16,026 14,359 10,094 10,425 Multilateral 68 1,231 4,711 7,057 8,052 7,120 6,914 5,524 5,227 4,495 Concessional 7 151 1,027 1,445 1,310 1,120 1,167 1,119 1,050 1,311 Bilateral 478 1,811 5,402 13,227 7,697 13,484 9,112 8,835 4,866 5,930 Concessional 424 1,202 4,595 4,338 7,082 10,959 7,519 7,619 3,921 5,989Private creditors 209 6,317 9,498 25,603 13,537 13,681 9,366 10,902 12,171 13,295 Bonds 0 235 852 5,822 2,125 6,627 3,540 6,024 7,980 7,244 Commercial banks 89 3,066 4,090 9,655 7,486 3,427 2,330 2,671 2,293 4,144 Other private 120 3,016 4,555 10,126 3,926 3,628 3,496 2,207 1,898 1,907Private nonguaranteed 764 2,911 9,841 26,646 11,928 14,601 13,446 19,750 26,033 19,996 Bonds 0 0 120 9,797 1,059 795 716 1,137 896 2,124 Commercial banks and other 764 2,911 9,721 16,849 10,869 13,806 12,731 18,613 25,137 17,872Memo: IBRD 57 793 2,532 3,304 3,819 3,804 3,245 2,631 2,491 2,132 IDA 4 92 604 1,013 920 705 700 732 651 944

PRINCIPAL REPAYMENTS 612 4,066 17,377 38,280 37,348 49,085 47,657 51,287 64,225 54,764Public and publicly guaranteed 228 2,184 14,808 22,855 17,472 24,983 23,444 22,443 29,886 33,013Official creditors 79 659 4,266 8,969 8,081 9,937 10,276 8,637 15,217 18,811 Multilateral 22 157 2,032 3,354 2,649 2,928 4,061 3,435 7,667 7,392 Concessional 0 7 77 132 137 181 447 263 264 300 Bilateral 57 501 2,234 5,615 5,432 7,009 6,215 5,202 7,550 11,419 Concessional 37 260 1,071 3,099 4,273 5,508 4,806 3,608 3,618 7,319Private creditors 150 1,526 10,542 13,886 9,390 15,045 13,168 13,806 14,669 14,202 Bonds 32 41 1,925 1,421 811 4,152 1,211 2,836 4,929 2,283 Commercial banks 41 493 5,395 7,991 4,992 6,888 7,162 6,981 5,628 6,472 Other private 76 991 3,223 4,474 3,587 4,006 4,794 3,988 4,113 5,446Private nonguaranteed 384 1,881 2,569 15,425 19,876 24,103 24,213 28,845 34,339 21,751 Bonds 0 0 0 889 1,722 2,383 4,690 3,651 3,150 1,275 Commercial banks and other 384 1,881 2,569 14,536 18,154 21,720 19,523 25,193 31,188 20,477Memo: IBRD 22 118 1,462 2,254 1,845 1,979 2,006 2,322 4,702 4,334 IDA 0 2 19 61 68 89 107 132 162 199

NET FLOWS ON DEBT 906 8,206 12,075 34,253 3,866 -199 -8,818 -6,276 -15,927 -11,048Public and publicly guaranteed 526 7,175 4,803 23,031 11,815 9,302 1,949 2,819 -7,622 -9,293Official creditors 467 2,384 5,847 11,314 7,668 10,666 5,750 5,722 -5,123 -8,386 Multilateral 46 1,074 2,679 3,702 5,403 4,192 2,853 2,089 -2,439 -2,897 Concessional 7 145 950 1,312 1,172 938 720 855 786 1,012 Bilateral 421 1,310 3,169 7,612 2,265 6,475 2,897 3,633 -2,684 -5,489 Concessional 387 942 3,524 1,239 2,809 5,451 2,713 4,012 304 -1,329Private creditors 59 4,792 -1,044 11,717 4,147 -1,364 -3,801 -2,904 -2,498 -907 Bonds -32 194 -1,072 4,401 1,314 2,475 2,329 3,188 3,052 4,961 Commercial banks 48 2,573 -1,305 1,664 2,494 -3,461 -4,832 -4,310 -3,335 -2,328 Other private 44 2,025 1,333 5,652 338 -378 -1,298 -1,781 -2,215 -3,540Private nonguaranteed 380 1,030 7,272 11,221 -7,948 -9,501 -10,767 -9,095 -8,305 -1,755 Bonds 0 0 120 8,908 -663 -1,588 -3,975 -2,514 -2,254 850 Commercial banks and other 380 1,030 7,152 2,313 -7,285 -7,914 -6,792 -6,581 -6,051 -2,605Memo: IBRD 35 675 1,070 1,050 1,974 1,825 1,239 309 -2,211 -2,202 IDA 4 90 585 952 852 615 593 600 489 746



INTEREST PAYMENTS (LINT) 162 3,000 10,155 17,860 19,024 20,219 20,352 18,658 14,432 13,565Public and publicly guaranteed 94 2,124 8,864 12,245 11,790 12,314 12,812 12,914 10,028 9,748Official creditors 61 710 3,673 5,653 5,915 6,797 7,271 7,446 5,493 5,268 Multilateral 25 354 2,146 2,582 2,691 3,134 3,836 4,030 3,268 2,786 Concessional 0 12 63 128 127 142 146 148 147 174 Bilateral 37 356 1,527 3,071 3,224 3,663 3,435 3,415 2,225 2,483 Concessional 28 208 994 1,729 2,282 2,486 2,216 2,148 1,553 1,865Private creditors 32 1,414 5,192 6,592 5,875 5,517 5,541 5,468 4,535 4,479 Bonds 9 88 923 1,764 1,735 2,085 2,247 2,640 2,447 2,846 Commercial banks 13 824 2,795 2,586 2,156 1,914 1,924 1,691 1,124 820 Other private 10 501 1,474 2,242 1,984 1,518 1,370 1,137 964 813Private nonguaranteed 68 876 1,290 5,615 7,233 7,905 7,540 5,744 4,404 3,817 Bonds 0 0 2 1,484 2,053 1,928 1,872 1,524 1,334 1,312 Commercial banks and other 68 876 1,289 4,132 5,180 5,977 5,668 4,220 3,071 2,505Memo: IBRD 25 261 1,521 1,694 1,725 1,972 2,146 2,105 1,875 1,461 IDA 0 6 34 75 77 85 87 87 94 104

NET TRANSFERS ON DEBT 744 5,206 1,921 16,392 -15,157 -20,418 -29,170 -24,934 -30,359 -24,613Public and publicly guaranteed 433 5,052 -4,062 10,786 24 -3,012 -10,863 -10,095 -17,650 -19,041Official creditors 406 1,674 2,175 5,661 1,753 3,870 -1,521 -1,723 -10,616 -13,655 Multilateral 21 719 533 1,121 2,712 1,058 -983 -1,941 -5,707 -5,683 Concessional 7 133 887 1,184 1,046 796 574 708 640 838 Bilateral 385 954 1,642 4,540 -959 2,812 -538 218 -4,909 -7,972 Concessional 359 734 2,530 -490 527 2,965 497 1,864 -1,249 -3,194Private creditors 27 3,378 -6,236 5,125 -1,728 -6,882 -9,343 -8,372 -7,033 -5,386 Bonds -41 106 -1,995 2,637 -421 390 82 548 604 2,115 Commercial banks 35 1,749 -4,100 -922 338 -5,375 -6,756 -6,001 -4,459 -3,149 Other private 33 1,524 -141 3,410 -1,645 -1,896 -2,668 -2,918 -3,179 -4,353Private nonguaranteed 312 154 5,982 5,606 -15,181 -17,406 -18,307 -14,839 -12,709 -5,572 Bonds 0 0 118 7,424 -2,717 -3,516 -5,846 -4,038 -3,588 -462 Commercial banks and other 312 154 5,864 -1,818 -12,465 -13,890 -12,461 -10,801 -9,122 -5,110Memo: IBRD 11 414 -451 -644 249 -147 -907 -1,796 -4,086 -3,663 IDA 4 84 551 877 775 530 506 514 396 641

DEBT SERVICE (LTDS) 774 7,065 27,531 56,140 56,372 69,304 68,009 69,945 78,657 68,329Public and publicly guaranteed 322 4,308 23,672 35,100 29,262 37,297 36,256 35,357 39,914 42,760Official creditors 140 1,369 7,938 14,622 13,997 16,734 17,547 16,082 20,710 24,080 Multilateral 47 512 4,178 5,936 5,340 6,061 7,897 7,465 10,934 10,178 Concessional 0 18 140 260 264 324 593 411 411 474 Bilateral 94 857 3,760 8,686 8,656 10,672 9,650 8,617 9,776 13,902 Concessional 65 468 2,065 4,828 6,555 7,994 7,022 5,755 5,170 9,183Private creditors 182 2,940 15,734 20,478 15,265 20,563 18,709 19,274 19,205 18,681 Bonds 41 130 2,847 3,185 2,546 6,237 3,459 5,476 7,376 5,129 Commercial banks 54 1,317 8,190 10,577 7,148 8,802 9,086 8,672 6,752 7,293 Other private 87 1,492 4,696 6,716 5,571 5,524 6,165 5,126 5,077 6,259Private nonguaranteed 452 2,757 3,859 21,040 27,110 32,007 31,753 34,589 38,743 25,569 Bonds 0 0 2 2,373 3,776 4,311 6,562 5,175 4,484 2,587 Commercial banks and other 452 2,757 3,857 18,667 23,334 27,696 25,191 29,414 34,259 22,982Memo: IBRD 46 379 2,983 3,947 3,570 3,950 4,152 4,427 6,577 5,795 IDA 0 8 53 136 145 174 194 218 255 303

UNDISBURSED DEBT 1,225 23,078 44,702 63,186 66,045 91,450 56,927 46,386 45,357 ..Official creditors 1,125 17,085 33,050 50,961 61,470 86,477 50,723 43,450 41,369 ..Private creditors 100 5,992 11,652 12,225 4,574 4,973 6,204 2,937 3,989 ..Memorandum items Concessional LDOD 3,141 11,607 68,906 74,288 94,217 107,854 104,141 99,920 108,746 .. Variable rate LDOD 2,009 18,637 72,619 204,889 246,406 238,639 230,857 217,131 201,245 .. Public sector LDOD 5,071 36,308 172,531 263,806 273,941 291,369 267,927 263,817 265,529 .. Private sector LDOD 2,021 8,774 22,102 123,520 158,790 157,420 149,733 133,253 120,757 ..






Total amount rescheduled 0 0 1,478 887 3,905 5,222 2,468 2,768 3,900 .. Debt stock rescheduled 0 0 0 0 3,002 3,300 0 0 1,002 .. Principal rescheduled 0 0 848 410 496 1,477 2,268 2,733 2,441 .. Official 0 0 172 15 307 700 1,541 1,885 1,836 .. Private 0 0 676 395 189 778 727 848 604 .. Interest rescheduled 0 0 186 305 5 0 1 0 675 .. Official 0 0 107 2 5 0 1 0 551 .. Private 0 0 80 303 0 0 0 0 124 ..Debt forgiven 0 41 0 0 6 0 5 0 1 .. Memo: interest forgiven 0 0 0 0 0 0 1,631 77 0 ..Debt stock reduction 0 0 1,803 249 0 1,003 8,759 0 0 .. of which debt buyback 0 0 721 31 0 859 0 0 0 ..

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks 4,168 12,622 30,310 32,284 6,866 5,426 -41,332 4,001 -3,920 .. Net flows on debt 966 11,905 18,643 44,861 -32,464 -12,174 -17,720 -8,064 -10,948 523 Net change in interest arrears 7 0 520 -1,320 226 3,701 -471 1,027 928 .. Interest capitalized 0 0 186 305 5 0 1 0 675 .. Debt forgiveness or reduction 0 -41 -1,082 -218 -6 -144 -8,763 0 -1 .. Cross-currency valuation 0 311 10,349 -13,565 9,958 6,492 -13,905 -13,041 13,183 .. Residual 3,195 447 1,693 2,221 29,147 7,551 -474 24,079 -7,755 ..

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.5 9.1 6.5 6.0 5.0 5.0 5.7 4.5 5.0 .. Maturity (years) 25.6 16.6 19.4 13.1 17.1 17.3 15.6 14.7 15.7 .. Grace period (years) 6.7 5.1 5.4 4.7 4.8 6.1 4.6 5.1 6.9 .. Grant element (%) 40.5 10.1 24.2 21.1 30.0 30.8 25.7 31.2 30.2 ..Official creditors Interest (%) 4.0 5.6 4.9 5.6 4.4 3.7 4.0 3.4 2.7 .. Maturity (years) 28.8 23.6 24.6 18.8 21.4 22.5 27.0 21.9 25.7 .. Grace period (years) 7.3 7.1 7.1 5.6 6.0 6.1 6.9 5.4 6.6 .. Grant element (%) 46.5 32.6 38.7 28.8 37.9 43.7 45.9 42.9 52.8 ..Private creditors Interest (%) 6.9 12.5 8.3 6.3 6.3 6.6 6.6 5.6 6.3 .. Maturity (years) 10.6 9.8 13.6 8.3 9.2 11.2 8.8 8.4 9.7 .. Grace period (years) 4.1 3.1 3.5 4.0 2.6 6.1 3.2 4.9 7.1 .. Grant element (%) 12.6 -12.1 7.9 14.7 15.1 15.6 13.7 20.8 16.9 ..Memorandum items Commitments 1,025 14,536 23,181 42,959 30,536 37,154 24,326 24,622 21,330 .. Official creditors 843 7,204 12,256 19,458 19,954 20,113 9,032 11,530 7,885 .. Private creditors 182 7,332 10,924 23,501 10,582 17,041 15,295 13,092 13,445 ..




0.0

20.0

40.0

60.0

80.0

100.0

120.0

1996 1997 1998 1999 2000 2001 2002 2003


Private Flows

-20.0 0.0 20.0 40.0 60.0 80.0

1996

1997

1998

1999

2000

2001

2002

2003


Official Flows

-10.0 -5.0 0.0 5.0 10.0

1996

1997

1998

1999

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2001

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2003


10 2/2/04 9:02 AMEUROPE AND CENTRAL ASIA


1970 1980 1990 1997 1998 1999 2000 2001 2002 2003


TOTAL DEBT STOCKS (EDT) 5,028 75,598 217,224 387,545 485,194 495,590 503,938 498,876 545,842 577,354Long-term debt (LDOD) 3,965 56,405 176,378 310,375 386,857 399,443 401,556 396,756 434,625 450,380Public and publicly guaranteed 3,069 44,865 171,457 267,535 293,254 292,237 282,484 264,806 276,350 290,004Private nonguaranteed 896 11,540 4,921 42,839 93,603 107,206 119,072 131,950 158,275 160,376Use of IMF credit 74 2,143 1,305 21,195 27,661 23,862 21,950 27,156 34,245 33,803Short-term debt .. 17,051 39,541 55,975 70,676 72,286 80,431 74,964 76,971 93,171of which interest arrears on LDOD .. 311 13,041 4,795 7,739 10,352 9,047 10,334 6,980 .. Official creditors .. 13 6,573 2,779 5,212 6,485 7,378 8,842 5,271 .. Private creditors .. 298 6,468 2,016 2,527 3,868 1,670 1,493 1,710 ..Memo: principal arrears on LDOD .. 56 6,324 11,800 13,239 14,007 14,674 13,726 9,320 .. Official creditors .. 21 4,584 8,192 8,441 10,766 11,046 10,733 6,652 .. Private creditors .. 35 1,740 3,608 4,798 3,240 3,628 2,992 2,668 ..Memo: export credits .. 0 66,598 80,729 60,784 56,478 53,437 55,854 59,650 ..

TOTAL DEBT FLOWS Disbursements 1,082 21,285 29,137 51,104 73,374 65,895 64,772 78,234 98,791 90,742Long-term debt 1,007 20,047 28,389 47,732 65,967 63,088 60,403 66,083 85,310 88,841IMF purchases 75 1,238 747 3,372 7,407 2,807 4,369 12,150 13,481 1,901Principal repayments 584 7,186 19,741 26,798 36,191 48,749 53,241 69,442 75,332 78,341Long-term debt 512 6,857 19,009 25,854 34,125 42,853 48,162 63,354 66,487 74,360IMF repurchases 72 329 732 945 2,066 5,896 5,079 6,089 8,845 3,981Net flows on debt 497 13,519 1,699 32,845 41,540 16,142 20,982 2,038 24,909 29,469of which short-term debt .. -580 -7,697 8,539 4,357 -1,003 9,450 -6,754 1,450 17,067Interest payments (INT) .. 5,390 12,146 18,200 20,488 20,721 23,459 25,195 23,139 25,006Long-term debt 148 3,409 9,548 15,072 16,746 16,429 18,442 21,468 19,797 22,265IMF charges 0 103 128 909 1,058 1,013 1,080 1,170 1,164 502Short-term debt .. 1,879 2,470 2,218 2,683 3,279 3,937 2,557 2,178 2,239Net transfers on debt .. 8,129 -10,447 14,645 21,052 -4,579 -2,477 -23,157 1,770 4,462Total debt service paid (TDS) .. 12,576 31,886 44,998 56,679 69,470 76,700 94,637 98,471 103,347Long-term debt 660 10,266 28,557 40,926 50,871 59,282 66,604 84,821 86,284 96,626IMF repurchases and charges 72 432 860 1,854 3,124 6,910 6,159 7,259 10,009 4,483Short-term debt (interest only) .. 1,879 2,470 2,218 2,683 3,279 3,937 2,557 2,178 2,239


NET RESOURCE FLOWS 606 13,490 11,716 53,984 67,351 58,832 51,327 41,944 59,789 51,308Net flow of long-term debt (ex. IMF) 495 13,190 9,380 21,878 31,842 20,235 12,241 2,730 18,824 14,481Foreign direct investment (net) 58 29 1,227 22,620 26,150 28,419 29,276 31,848 32,931 26,200Portfolio equity flows 0 0 89 4,044 3,975 1,956 1,215 264 -433 655Grants (excluding technical coop.) 53 272 1,020 5,441 5,384 8,222 8,595 7,102 8,467 9,072Memo: technical coop. grants 47 155 421 2,873 4,302 4,417 3,055 3,543 4,846 5,189 official net resource flows 344 3,612 4,226 9,609 7,480 10,601 9,228 3,008 6,050 4,617 private net resource flows 262 9,879 7,490 44,376 59,871 48,231 42,099 38,936 53,739 46,691

NET TRANSFERS 458 10,050 1,950 35,994 46,529 38,137 26,502 12,478 28,042 16,043Interest on long-term debt 148 3,409 9,548 15,072 16,746 16,429 18,442 21,468 19,797 22,265Profit remittances on FDI 0 31 218 2,918 4,076 4,267 6,383 7,999 11,951 13,000Memo: official net transfers 270 2,838 1,998 3,846 2,759 6,956 5,258 -3,000 1,222 -518 private net transfers 188 7,213 -47 32,148 43,770 31,180 21,244 15,478 26,819 16,561


Gross national income (GNI) 18,071 71,885 1,233,051 1,078,587 974,690 847,381 931,754 982,117 1,118,132 1,308,045Exports of goods, serv. & inc. (XGS) 0 17,903 63,715 365,105 365,685 343,746 414,854 436,558 474,840 603,293Worker remit. & comp. of employees 0 2,071 3,246 7,258 10,450 9,310 9,721 10,200 10,310 10,400Imports of goods & services (MGS) 0 23,831 70,800 402,244 400,213 354,791 406,784 429,715 481,931 617,554International reserves (RES) 440 5,809 14,859 100,893 105,975 113,939 129,688 141,659 186,778 238,129

4. DEBT INDICATORS


11EUROPE AND CENTRAL ASIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 3,965 56,405 176,378 310,375 386,857 399,443 401,556 396,756 434,625 450,380Public and publicly guaranteed 3,069 44,865 171,457 267,535 293,254 292,237 282,484 264,806 276,350 290,004Official creditors 2,647 18,580 63,676 134,955 144,645 147,250 144,488 131,685 130,790 134,098 Multilateral 634 4,363 16,604 29,120 32,757 34,098 34,765 35,643 40,908 43,029 Concessional 113 242 920 2,288 2,852 3,431 3,674 3,833 4,915 6,799 Bilateral 2,013 14,217 47,072 105,835 111,888 113,152 109,724 96,042 89,883 91,070 Concessional 1,739 6,744 11,730 18,127 19,564 21,959 20,484 19,068 22,102 23,113Private creditors 422 26,284 107,782 132,581 148,609 144,987 137,995 133,121 145,560 155,905 Bonds 41 200 11,889 49,394 65,432 70,241 93,724 92,572 100,176 111,131 Commercial banks 10 16,733 65,890 63,336 64,807 60,329 33,301 30,131 37,451 38,814 Other private 371 9,352 30,002 19,850 18,369 14,417 10,970 10,418 7,932 5,960Private nonguaranteed 896 11,540 4,921 42,839 93,603 107,206 119,072 131,950 158,275 160,376 Bonds 0 0 16 3,522 5,714 7,262 7,698 7,982 11,351 13,788 Commercial banks and other 896 11,540 4,905 39,317 87,889 99,944 111,374 123,968 146,924 146,589Memo: IBRD 297 3,323 10,271 19,186 20,953 21,753 22,788 23,972 26,484 26,888 IDA 83 189 157 1,483 1,991 2,441 2,667 2,891 3,730 4,589

DISBURSEMENTS 1,007 20,047 28,389 47,732 65,967 63,088 60,403 66,083 85,310 88,841Public and publicly guaranteed 540 16,749 26,628 30,595 39,691 27,680 26,052 18,339 20,327 31,388Official creditors 480 5,041 6,349 9,359 9,661 7,522 8,023 6,836 5,995 5,300 Multilateral 163 1,023 2,298 6,573 6,076 5,004 4,836 4,986 4,131 3,332 Concessional 7 10 14 598 574 707 459 455 778 821 Bilateral 317 4,018 4,052 2,785 3,585 2,519 3,187 1,851 1,864 1,968 Concessional 271 1,925 940 933 1,037 1,409 1,470 788 850 1,387Private creditors 61 11,707 20,279 21,236 30,030 20,157 18,029 11,503 14,331 26,088 Bonds 0 80 1,959 10,018 20,188 11,307 10,709 7,364 8,304 17,581 Commercial banks 0 5,069 4,084 8,083 6,894 6,494 6,491 3,329 5,479 7,997 Other private 61 6,559 14,236 3,135 2,948 2,357 828 810 548 510Private nonguaranteed 466 3,298 1,761 17,137 26,276 35,408 34,352 47,744 64,984 57,454 Bonds 0 0 0 2,894 2,146 1,890 1,513 1,115 4,113 7,101 Commercial banks and other 466 3,298 1,761 14,243 24,130 33,518 32,838 46,629 60,871 50,352Memo: IBRD 55 833 1,218 4,677 3,354 2,635 3,102 3,182 2,170 1,445 IDA 7 0 0 433 450 495 351 332 603 494

PRINCIPAL REPAYMENTS 512 6,857 19,009 25,854 34,125 42,853 48,162 63,354 66,487 74,360Public and publicly guaranteed 304 4,816 17,512 17,568 23,279 17,721 20,195 26,110 21,944 30,490Official creditors 189 1,701 3,143 5,192 7,565 5,143 7,390 10,930 8,412 9,755 Multilateral 81 154 1,455 2,466 3,761 2,107 2,820 3,153 2,981 3,758 Concessional 22 2 23 142 131 71 32 197 57 132 Bilateral 108 1,547 1,688 2,726 3,804 3,036 4,569 7,777 5,432 5,997 Concessional 47 532 434 732 819 1,019 2,262 1,392 1,379 1,648Private creditors 116 3,114 14,368 12,377 15,714 12,578 12,805 15,180 13,532 20,735 Bonds 2 15 66 3,620 6,309 4,811 5,966 6,171 7,424 10,781 Commercial banks 2 1,366 8,751 5,687 5,396 4,473 4,271 6,058 3,953 7,396 Other private 112 1,733 5,552 3,070 4,009 3,294 2,568 2,950 2,155 2,558Private nonguaranteed 208 2,041 1,497 8,285 10,846 25,131 27,968 37,244 44,543 43,870 Bonds 0 0 0 86 0 164 958 713 845 39 Commercial banks and other 208 2,041 1,497 8,200 10,846 24,968 27,009 36,531 43,698 43,830Memo: IBRD 13 133 1,133 1,221 2,275 1,258 1,357 1,407 1,804 2,678 IDA 0 1 4 6 6 6 6 6 6 8

NET FLOWS ON DEBT 495 13,190 9,380 21,878 31,842 20,235 12,241 2,730 18,824 14,481Public and publicly guaranteed 236 11,933 9,117 13,027 16,412 9,958 5,857 -7,771 -1,617 898Official creditors 291 3,340 3,206 4,167 2,096 2,379 634 -4,094 -2,417 -4,455 Multilateral 82 869 843 4,107 2,315 2,897 2,016 1,832 1,151 -426 Concessional -15 9 -10 456 443 636 426 257 721 689 Bilateral 209 2,471 2,363 60 -219 -517 -1,382 -5,926 -3,568 -4,029 Concessional 224 1,393 507 200 219 390 -791 -604 -529 -261Private creditors -55 8,593 5,911 8,860 14,316 7,579 5,224 -3,677 800 5,353 Bonds -2 65 1,893 6,398 13,879 6,495 4,743 1,192 881 6,800 Commercial banks -2 3,703 -4,667 2,397 1,498 2,021 2,221 -2,729 1,526 601 Other private -51 4,825 8,684 65 -1,061 -937 -1,740 -2,140 -1,607 -2,048Private nonguaranteed 259 1,257 264 8,852 15,430 10,277 6,384 10,500 20,441 13,584 Bonds 0 0 0 2,808 2,146 1,726 555 402 3,268 7,062 Commercial banks and other 259 1,257 264 6,044 13,284 8,551 5,829 10,098 17,173 6,522Memo: IBRD 42 700 85 3,456 1,079 1,378 1,745 1,775 366 -1,233 IDA 7 -1 -4 427 444 489 345 326 597 486



INTEREST PAYMENTS (LINT) 148 3,409 9,548 15,072 16,746 16,429 18,442 21,468 19,797 22,265Public and publicly guaranteed 115 2,560 9,107 13,124 12,350 11,507 12,585 15,363 13,962 15,704Official creditors 74 774 2,228 5,763 4,721 3,645 3,971 6,008 4,828 5,135 Multilateral 24 298 1,199 1,603 1,787 1,836 1,880 1,866 1,561 1,456 Concessional 2 4 39 35 37 37 43 45 48 87 Bilateral 50 476 1,029 4,160 2,933 1,809 2,090 4,142 3,267 3,679 Concessional 35 157 246 740 689 643 626 575 607 539Private creditors 40 1,787 6,878 7,361 7,629 7,862 8,614 9,355 9,134 10,569 Bonds 1 36 737 3,141 3,759 4,930 5,996 6,607 6,942 8,463 Commercial banks 1 1,171 4,675 3,206 3,000 2,044 2,014 2,067 1,708 1,821 Other private 38 580 1,466 1,014 871 887 605 680 484 285Private nonguaranteed 34 849 441 1,949 4,396 4,922 5,857 6,104 5,835 6,562 Bonds 0 0 1 48 251 445 570 608 829 929 Commercial banks and other 34 849 440 1,901 4,145 4,476 5,287 5,496 5,007 5,632Memo: IBRD 16 257 809 1,032 1,135 1,210 1,297 1,291 1,097 986 IDA 1 1 1 8 11 15 19 20 23 30

NET TRANSFERS ON DEBT 346 9,781 -168 6,806 15,096 3,806 -6,201 -18,738 -973 -7,784Public and publicly guaranteed 121 9,372 10 -97 4,062 -1,549 -6,728 -23,134 -15,579 -14,806Official creditors 217 2,566 978 -1,596 -2,625 -1,266 -3,337 -10,102 -7,245 -9,590 Multilateral 57 571 -356 2,505 528 1,060 135 -34 -410 -1,882 Concessional -17 5 -48 421 406 599 384 212 672 602 Bilateral 159 1,995 1,334 -4,100 -3,153 -2,326 -3,473 -10,068 -6,834 -7,708 Concessional 189 1,236 261 -540 -470 -253 -1,417 -1,179 -1,136 -800Private creditors -95 6,806 -968 1,499 6,687 -283 -3,391 -13,032 -8,334 -5,216 Bonds -3 30 1,156 3,257 10,120 1,565 -1,252 -5,415 -6,061 -1,663 Commercial banks -2 2,532 -9,341 -809 -1,501 -23 207 -4,796 -182 -1,220 Other private -89 4,245 7,218 -949 -1,932 -1,824 -2,345 -2,821 -2,091 -2,333Private nonguaranteed 225 408 -178 6,903 11,034 5,355 527 4,396 14,605 7,022 Bonds 0 0 -1 2,760 1,894 1,281 -15 -206 2,439 6,132 Commercial banks and other 225 408 -176 4,143 9,140 4,074 542 4,602 12,166 890Memo: IBRD 26 443 -724 2,424 -56 167 449 484 -731 -2,219 IDA 7 -2 -5 419 432 474 327 306 574 457

DEBT SERVICE (LTDS) 660 10,266 28,557 40,926 50,871 59,282 66,604 84,821 86,284 96,626Public and publicly guaranteed 419 7,376 26,618 30,692 35,629 29,228 32,780 41,473 35,905 46,194Official creditors 263 2,475 5,372 10,955 12,286 8,788 11,360 16,939 13,240 14,890 Multilateral 105 452 2,654 4,069 5,549 3,943 4,701 5,020 4,541 5,214 Concessional 25 5 62 177 168 108 75 242 105 219 Bilateral 158 2,023 2,718 6,886 6,737 4,845 6,660 11,919 8,699 9,676 Concessional 82 689 680 1,472 1,507 1,662 2,888 1,967 1,986 2,187Private creditors 156 4,901 21,247 19,737 23,343 20,440 21,419 24,534 22,665 31,304 Bonds 3 50 803 6,761 10,068 9,742 11,962 12,779 14,365 19,244 Commercial banks 2 2,537 13,426 8,893 8,395 6,517 6,285 8,125 5,661 9,217 Other private 150 2,314 7,018 4,084 4,880 4,181 3,173 3,631 2,639 2,843Private nonguaranteed 241 2,890 1,939 10,234 15,242 30,053 33,824 43,348 50,378 50,432 Bonds 0 0 1 134 251 609 1,528 1,321 1,674 969 Commercial banks and other 241 2,890 1,937 10,100 14,991 29,444 32,296 42,027 48,705 49,463Memo: IBRD 29 389 1,943 2,252 3,410 2,468 2,653 2,698 2,901 3,665 IDA 1 3 5 14 17 21 24 26 30 38

UNDISBURSED DEBT 1,935 13,750 17,065 32,375 33,082 35,331 28,416 25,055 24,801 ..Official creditors 1,613 6,155 9,220 22,197 22,736 25,684 19,401 18,230 18,343 ..Private creditors 322 7,596 7,846 10,178 10,346 9,647 9,015 6,825 6,458 ..Memorandum items Concessional LDOD 1,851 6,986 12,651 20,416 22,416 25,390 24,158 22,901 27,017 .. Variable rate LDOD 952 25,866 88,727 177,944 233,494 234,398 214,514 217,118 247,725 .. Public sector LDOD 2,842 44,026 170,441 265,298 290,488 289,631 280,363 262,903 273,863 .. Private sector LDOD 1,122 12,379 5,937 45,077 96,369 109,811 121,193 133,853 160,763 ..






Total amount rescheduled 0 1,757 3,559 36,151 5,641 17,529 29,130 3,406 8,995 .. Debt stock rescheduled 0 0 0 953 224 2,080 19,307 266 1,412 .. Principal rescheduled 0 20 1,366 29,068 3,966 8,154 3,675 2,970 3,689 .. Official 0 17 746 3,753 2,875 6,000 2,945 2,402 3,534 .. Private 0 3 620 25,315 1,091 2,154 730 568 155 .. Interest rescheduled 0 8 2,163 5,356 530 5,665 4,393 209 1,406 .. Official 0 7 1,998 587 373 5,154 2,220 160 1,403 .. Private 0 1 165 4,769 158 511 2,173 49 3 ..Debt forgiven 0 0 232 50 41 121 15 37 892 .. Memo: interest forgiven 0 0 61 3 0 0 0 3 85 ..Debt stock reduction 0 0 1,779 1,826 748 154 12,545 1,391 114 .. of which debt buyback 0 0 882 0 748 30 943 315 0 ..

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks 490 25,389 19,679 20,418 97,649 10,396 8,347 -5,061 46,965 .. Net flows on debt 497 13,519 1,699 32,845 44,843 16,142 20,982 2,038 24,910 29,469 Net change in interest arrears 0 255 5,213 -4,687 2,944 2,613 -1,305 1,287 -3,354 .. Interest capitalized 0 8 2,163 5,356 530 5,665 4,393 209 1,406 .. Debt forgiveness or reduction 0 0 -1,129 -1,875 -41 -245 -11,617 -1,113 -1,006 .. Cross-currency valuation 0 -852 10,086 -17,297 8,618 -10,752 -9,934 -7,386 18,773 .. Residual -7 12,459 1,647 6,076 40,755 -3,028 5,829 -96 6,236 ..

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.2 10.2 8.4 6.8 7.4 6.4 7.6 5.7 5.5 .. Maturity (years) 19.2 12.5 11.9 10.7 11.8 11.1 11.3 11.6 11.0 .. Grace period (years) 6.8 4.4 6.1 4.9 7.7 4.4 6.7 5.7 5.9 .. Grant element (%) 37.3 2.1 8.7 15.1 10.7 18.6 10.6 23.6 23.5 ..Official creditors Interest (%) 3.8 7.5 7.8 5.7 5.2 4.5 6.2 4.4 2.8 .. Maturity (years) 20.1 16.7 13.7 17.3 16.5 17.3 17.2 17.0 18.6 .. Grace period (years) 7.3 5.3 5.9 5.3 5.2 4.8 5.4 5.0 5.9 .. Grant element (%) 40.3 19.6 12.4 26.7 28.4 33.6 24.3 34.0 45.5 ..Private creditors Interest (%) 6.3 11.2 8.6 7.4 8.2 7.5 8.0 6.8 6.8 .. Maturity (years) 13.4 10.9 11.1 7.2 10.2 7.5 9.3 7.6 7.7 .. Grace period (years) 3.6 4.1 6.2 4.7 8.5 4.2 7.1 6.1 5.9 .. Grant element (%) 18.2 -4.4 7.2 9.2 4.7 9.8 5.8 15.7 13.8 ..Memorandum items Commitments 759 12,696 29,685 32,189 40,396 29,163 24,343 18,517 19,232 .. Official creditors 654 3,415 8,771 10,971 10,282 10,794 6,285 7,973 5,875 .. Private creditors 105 9,281 20,914 21,218 30,114 18,369 18,058 10,544 13,357 ..




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14 2/2/04 9:03 AMLATIN AMERICA AND CARIBBEAN


1970 1980 1990 1997 1998 1999 2000 2001 2002 2003


TOTAL DEBT STOCKS (EDT) 32,548 242,669 444,227 665,833 748,373 770,153 751,918 729,290 727,944 762,126Long-term debt (LDOD) 27,633 172,869 352,476 523,283 610,924 643,466 639,713 615,864 613,916 625,974Public and publicly guaranteed 15,760 130,422 327,447 360,737 390,772 398,486 394,867 374,888 384,961 402,640Private nonguaranteed 11,873 42,447 25,029 162,545 220,152 244,980 244,847 240,976 228,955 223,334Use of IMF credit 128 1,410 18,297 18,564 21,969 20,498 8,846 23,901 38,302 52,177Short-term debt .. 68,390 73,453 123,987 115,480 106,190 103,359 89,525 75,725 83,975of which interest arrears on LDOD .. 60 25,560 2,782 3,117 1,759 1,486 1,046 6,234 .. Official creditors .. 16 3,858 1,827 1,313 1,330 1,183 799 910 .. Private creditors .. 44 21,702 955 1,804 429 302 247 5,324 ..Memo: principal arrears on LDOD .. 643 24,455 6,334 5,635 5,791 4,133 2,017 10,707 .. Official creditors .. 78 7,382 2,747 2,758 2,959 2,090 1,259 1,701 .. Private creditors .. 566 17,072 3,587 2,878 2,832 2,042 759 9,005 ..Memo: export credits .. 0 69,988 67,882 30,669 28,728 26,924 24,011 25,269 ..

TOTAL DEBT FLOWS Disbursements 6,576 44,354 32,482 123,124 145,786 128,407 117,761 124,877 98,149 116,678Long-term debt 6,452 43,939 27,646 122,347 140,750 120,661 114,252 107,666 80,506 91,936IMF purchases 124 415 4,836 777 5,036 7,746 3,510 17,210 17,644 23,651Principal repayments 3,751 21,652 22,017 90,065 80,184 108,352 124,875 105,199 97,044 99,790Long-term debt 3,453 21,165 18,366 85,366 77,657 99,691 110,641 103,577 91,279 87,023IMF repurchases 298 487 3,651 4,699 2,527 8,660 14,234 1,623 5,765 12,237Net flows on debt 2,825 45,699 18,098 25,396 38,041 12,123 -9,672 6,283 -7,883 19,498of which short-term debt .. 22,997 7,633 -7,663 -27,561 -7,932 -2,558 -13,394 -8,988 2,610Interest payments (INT) .. 24,339 21,925 40,891 46,284 51,888 55,249 53,466 39,664 37,411Long-term debt 1,395 17,355 18,089 33,490 38,972 44,694 47,909 48,298 36,258 34,548IMF charges 0 95 1,459 928 828 1,040 777 608 1,195 1,070Short-term debt .. 6,890 2,377 6,472 6,484 6,153 6,562 4,560 2,211 1,794Net transfers on debt .. 21,360 -3,827 -15,495 -8,244 -39,765 -64,920 -47,183 -47,547 -17,913Total debt service paid (TDS) .. 45,991 43,942 130,956 126,468 160,239 180,124 158,666 136,709 137,201Long-term debt 4,848 38,520 36,455 118,856 116,629 144,386 158,550 151,875 127,538 122,101IMF repurchases and charges 298 582 5,110 5,627 3,355 9,700 15,012 2,231 6,960 13,306Short-term debt (interest only) .. 6,890 2,377 6,472 6,484 6,153 6,562 4,560 2,211 1,794


NET RESOURCE FLOWS 4,305 29,557 22,203 119,712 137,917 108,274 82,588 79,539 38,145 46,198Net flow of long-term debt (ex. IMF) 2,999 22,774 9,280 36,981 63,093 20,969 3,611 4,090 -10,774 5,474Foreign direct investment (net) 1,173 6,358 8,181 66,718 73,823 88,035 76,961 69,949 44,682 36,600Portfolio equity flows 0 0 2,464 13,326 -2,170 -3,626 -453 2,291 1,507 1,420Grants (excluding technical coop.) 133 425 2,278 2,686 3,171 2,896 2,469 3,210 2,730 2,904Memo: technical coop. grants 257 753 1,949 2,389 2,258 2,468 2,930 3,135 3,104 3,302 official net resource flows 963 4,710 9,004 -2,052 11,531 5,318 2,073 8,006 3,601 1,716 private net resource flows 3,342 24,848 13,199 121,764 126,386 102,956 80,515 71,533 34,544 44,481

NET TRANSFERS 2,248 6,989 -3,407 66,242 78,327 45,749 12,270 10,840 -16,569 -4,650Interest on long-term debt 1,395 17,355 18,089 33,490 38,972 44,694 47,909 48,298 36,258 34,548Profit remittances on FDI 662 5,213 7,520 19,979 20,619 17,831 22,409 20,401 18,456 16,300Memo: official net transfers 661 2,936 3,521 -9,235 4,278 -3,389 -6,483 21 -3,524 -4,936 private net transfers 1,587 4,053 -6,928 75,477 74,049 49,137 18,754 10,819 -13,045 286


Gross national income (GNI) 158,686 709,588 1,053,839 1,939,679 1,944,983 1,721,811 1,911,472 1,847,659 1,607,657 1,653,528Exports of goods, serv. & inc. (XGS) 4,142 125,994 184,175 371,695 373,946 390,017 463,718 445,322 444,666 474,558Worker remit. & comp. of employees 51 1,879 5,703 13,781 15,158 16,876 19,152 22,914 26,763 29,600Imports of goods & services (MGS) 4,585 156,616 190,508 441,389 468,197 450,835 514,589 503,923 463,918 479,432International reserves (RES) 5,427 57,072 58,570 175,076 165,801 158,381 159,958 161,380 164,143 193,361

4. DEBT INDICATORS


15LATIN AMERICA AND CARIBBEAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 27,633 172,869 352,476 523,283 610,924 643,466 639,713 615,864 613,916 625,974Public and publicly guaranteed 15,760 130,422 327,447 360,737 390,772 398,486 394,867 374,888 384,961 402,640Official creditors 8,125 30,997 121,256 127,128 138,819 142,392 141,000 138,688 144,320 148,338 Multilateral 2,950 14,096 59,799 70,448 83,578 91,362 92,949 97,664 101,929 106,845 Concessional 305 2,332 5,835 9,194 9,692 10,365 10,486 10,807 11,541 13,444 Bilateral 5,176 16,901 61,457 56,679 55,240 51,030 48,052 41,024 42,392 41,493 Concessional 3,922 7,658 18,083 24,793 23,427 23,844 20,623 18,943 20,092 21,326Private creditors 7,634 99,425 206,191 233,610 251,953 256,094 253,866 236,200 240,641 254,302 Bonds 1,227 9,582 75,907 193,173 204,062 214,841 212,999 194,378 203,815 220,316 Commercial banks 3,071 76,678 101,634 31,174 40,110 32,708 32,897 35,460 32,048 29,838 Other private 3,336 13,166 28,651 9,262 7,782 8,544 7,970 6,362 4,777 4,149Private nonguaranteed 11,873 42,447 25,029 162,545 220,152 244,980 244,847 240,976 228,955 223,334 Bonds 0 0 171 46,404 53,999 58,499 60,435 60,918 58,479 64,915 Commercial banks and other 11,873 42,447 24,858 116,141 166,153 186,482 184,412 180,058 170,477 158,419Memo: IBRD 2,067 7,706 34,724 31,793 34,501 36,080 37,518 38,212 38,081 37,847 IDA 112 427 1,117 2,621 2,989 3,369 3,387 3,516 3,991 4,633

DISBURSEMENTS 6,452 43,939 27,646 122,347 140,750 120,661 114,252 107,666 80,506 91,936Public and publicly guaranteed 3,692 30,979 22,944 56,975 61,419 56,452 56,433 54,499 42,978 56,637Official creditors 1,340 6,415 13,151 13,485 22,278 17,513 16,467 15,674 15,934 19,540 Multilateral 582 2,955 8,964 11,154 17,481 14,769 13,573 12,802 11,813 16,572 Concessional 76 482 449 820 812 1,011 690 781 709 1,127 Bilateral 757 3,460 4,187 2,331 4,797 2,744 2,893 2,873 4,121 2,968 Concessional 434 717 1,934 935 995 1,305 1,619 1,110 1,567 1,912Private creditors 2,352 24,564 9,793 43,490 39,140 38,939 39,966 38,825 27,044 37,097 Bonds 132 1,203 1,938 33,415 24,309 29,946 32,462 29,203 17,468 29,758 Commercial banks 1,229 19,932 4,746 8,684 13,986 6,302 6,836 8,966 9,225 6,578 Other private 991 3,430 3,108 1,392 846 2,691 668 656 351 761Private nonguaranteed 2,760 12,960 4,702 65,372 79,332 64,209 57,819 53,167 37,528 36,390 Bonds 0 0 171 14,120 15,985 10,932 8,312 6,832 4,558 7,553 Commercial banks and other 2,760 12,960 4,531 51,252 63,346 53,277 49,507 46,335 32,970 28,837Memo: IBRD 354 1,586 6,133 4,389 5,760 5,483 5,609 4,857 4,389 6,372 IDA 9 60 119 343 309 499 202 274 250 323

PRINCIPAL REPAYMENTS 3,453 21,165 18,366 85,366 77,657 99,691 110,641 103,577 91,279 87,023Public and publicly guaranteed 1,682 14,205 16,150 55,027 39,348 44,148 52,592 50,802 45,355 50,133Official creditors 509 2,130 6,424 18,224 13,919 15,090 16,863 10,878 15,063 20,727 Multilateral 171 712 4,737 6,869 6,150 7,761 9,801 6,353 9,702 15,294 Concessional 7 37 146 267 265 254 260 252 237 364 Bilateral 339 1,418 1,687 11,355 7,768 7,329 7,062 4,525 5,361 5,433 Concessional 119 369 183 1,197 1,342 1,459 1,274 1,265 1,469 1,615Private creditors 1,173 12,074 9,726 36,804 25,430 29,058 35,730 39,924 30,292 29,406 Bonds 77 401 1,964 28,206 15,308 13,666 26,718 26,532 13,858 17,754 Commercial banks 618 9,326 5,193 6,164 7,605 13,479 7,445 11,068 14,258 10,142 Other private 478 2,348 2,568 2,433 2,517 1,912 1,567 2,324 2,176 1,510Private nonguaranteed 1,771 6,960 2,216 30,338 38,309 55,543 58,048 52,775 45,925 37,420 Bonds 0 0 0 8,480 7,694 7,899 8,849 5,865 7,670 6,320 Commercial banks and other 1,771 6,960 2,216 21,858 30,614 47,644 49,200 46,909 38,254 31,100Memo: IBRD 105 395 3,303 3,958 3,637 3,830 3,808 3,840 4,919 7,118 IDA 0 2 9 18 18 15 18 12 20 40

NET FLOWS ON DEBT 2,999 22,774 9,280 36,981 63,093 20,969 3,611 4,090 -10,774 5,474Public and publicly guaranteed 2,010 16,774 6,794 1,948 22,070 12,303 3,841 3,697 -2,377 6,504Official creditors 830 4,284 6,727 -4,738 8,360 2,423 -396 4,796 871 -1,187 Multilateral 412 2,243 4,227 4,286 11,331 7,008 3,773 6,448 2,111 1,278 Concessional 69 445 303 554 547 757 430 530 472 763 Bilateral 419 2,041 2,500 -9,024 -2,972 -4,585 -4,169 -1,652 -1,240 -2,465 Concessional 316 348 1,751 -261 -347 -154 345 -155 98 297Private creditors 1,180 12,490 68 6,686 13,710 9,881 4,237 -1,099 -3,248 7,691 Bonds 55 802 -26 5,208 9,001 16,280 5,744 2,671 3,611 12,004 Commercial banks 612 10,606 -447 2,519 6,380 -7,178 -609 -2,102 -5,033 -3,564 Other private 513 1,082 540 -1,042 -1,671 779 -898 -1,668 -1,825 -749Private nonguaranteed 989 6,000 2,486 35,033 41,023 8,666 -230 392 -8,397 -1,030 Bonds 0 0 171 5,639 8,291 3,034 -537 966 -3,112 1,233 Commercial banks and other 989 6,000 2,315 29,394 32,732 5,633 307 -574 -5,285 -2,263Memo: IBRD 249 1,191 2,830 431 2,123 1,653 1,801 1,016 -530 -745 IDA 9 58 110 325 291 484 184 261 230 284



INTEREST PAYMENTS (LINT) 1,395 17,355 18,089 33,490 38,972 44,694 47,909 48,298 36,258 34,548Public and publicly guaranteed 767 12,926 15,827 22,611 23,329 26,785 29,866 30,809 22,399 20,999Official creditors 302 1,773 5,483 7,182 7,253 8,707 8,556 7,985 7,125 6,652 Multilateral 157 999 4,113 4,489 4,488 6,066 6,337 6,220 5,483 5,163 Concessional 7 48 102 140 165 152 161 125 120 187 Bilateral 145 774 1,370 2,694 2,765 2,641 2,219 1,765 1,643 1,489 Concessional 75 200 135 638 835 752 667 604 550 546Private creditors 465 11,153 10,344 15,429 16,077 18,078 21,310 22,823 15,274 14,347 Bonds 71 727 2,390 12,925 13,264 14,969 17,242 18,550 11,715 12,319 Commercial banks 228 9,443 6,681 1,952 2,267 2,635 3,283 3,465 3,289 1,840 Other private 165 983 1,274 552 546 474 785 809 270 187Private nonguaranteed 628 4,429 2,262 10,879 15,642 17,910 18,043 17,490 13,859 13,549 Bonds 0 0 0 3,690 4,228 4,791 5,193 5,373 4,296 4,300 Commercial banks and other 628 4,429 2,262 7,189 11,414 13,119 12,849 12,116 9,563 9,249Memo: IBRD 114 633 2,535 2,174 2,115 2,475 2,809 2,826 2,297 1,897 IDA 1 3 8 18 18 15 17 12 18 27

NET TRANSFERS ON DEBT 1,604 5,419 -8,809 3,491 24,121 -23,725 -44,298 -44,209 -47,032 -29,074Public and publicly guaranteed 1,244 3,848 -9,033 -20,663 -1,259 -14,482 -26,026 -27,111 -24,776 -14,495Official creditors 528 2,511 1,243 -11,921 1,107 -6,284 -8,952 -3,189 -6,254 -7,839 Multilateral 254 1,244 114 -203 6,844 942 -2,564 229 -3,372 -3,885 Concessional 62 397 201 414 382 606 269 404 351 575 Bilateral 274 1,267 1,130 -11,718 -5,737 -7,226 -6,388 -3,418 -2,882 -3,954 Concessional 241 148 1,617 -899 -1,182 -906 -322 -759 -452 -249Private creditors 715 1,337 -10,277 -8,743 -2,366 -8,197 -17,073 -23,922 -18,522 -6,656 Bonds -16 75 -2,416 -7,717 -4,263 1,311 -11,498 -15,879 -8,104 -315 Commercial banks 383 1,163 -7,128 567 4,113 -9,812 -3,892 -5,567 -8,323 -5,404 Other private 348 99 -733 -1,593 -2,217 304 -1,683 -2,477 -2,095 -936Private nonguaranteed 360 1,571 224 24,154 25,381 -9,243 -18,272 -17,097 -22,256 -14,579 Bonds 0 0 171 1,949 4,063 -1,757 -5,730 -4,407 -7,409 -3,067 Commercial banks and other 360 1,571 53 22,205 21,317 -7,486 -12,542 -12,690 -14,847 -11,512Memo: IBRD 135 558 295 -1,743 8 -821 -1,008 -1,809 -2,828 -2,643 IDA 8 55 102 307 273 469 167 249 212 257

DEBT SERVICE (LTDS) 4,848 38,520 36,455 118,856 116,629 144,386 158,550 151,875 127,538 122,101Public and publicly guaranteed 2,449 27,131 31,977 77,639 62,678 70,933 82,459 81,611 67,754 71,132Official creditors 812 3,903 11,907 25,406 21,171 23,797 25,419 18,864 22,188 27,379 Multilateral 328 1,711 8,851 11,357 10,638 13,827 16,138 12,573 15,185 20,457 Concessional 14 85 248 407 430 405 421 377 357 551 Bilateral 484 2,192 3,057 14,049 10,533 9,970 9,281 6,291 7,003 6,922 Concessional 193 569 317 1,834 2,177 2,211 1,941 1,869 2,019 2,161Private creditors 1,637 23,227 20,070 52,233 41,507 47,136 57,040 62,747 45,566 43,753 Bonds 148 1,128 4,354 41,131 28,571 28,635 43,960 45,082 25,573 30,073 Commercial banks 846 18,769 11,874 8,116 9,872 16,114 10,729 14,533 17,548 11,982 Other private 643 3,331 3,842 2,985 3,063 2,386 2,352 3,132 2,446 1,697Private nonguaranteed 2,400 11,389 4,478 41,217 53,951 73,453 76,091 70,264 59,784 50,969 Bonds 0 0 0 12,170 11,922 12,690 14,042 11,239 11,967 10,620 Commercial banks and other 2,400 11,389 4,478 29,047 42,029 60,763 62,049 59,025 47,817 40,349Memo: IBRD 219 1,027 5,838 6,132 5,752 6,304 6,617 6,666 7,216 9,015 IDA 1 5 17 36 36 30 35 24 38 67

UNDISBURSED DEBT 5,226 35,784 45,773 71,211 95,047 94,800 78,866 63,934 59,896 ..Official creditors 3,259 20,634 31,298 47,301 63,936 66,915 50,692 44,189 43,459 ..Private creditors 1,967 15,150 14,475 23,910 31,112 27,884 28,173 19,745 16,438 ..Memorandum items Concessional LDOD 4,227 9,990 23,918 33,988 33,119 34,209 31,109 29,750 31,633 .. Variable rate LDOD 12,501 117,246 195,987 325,055 390,566 413,658 392,255 379,567 365,896 .. Public sector LDOD 15,263 124,651 324,082 359,272 386,346 393,913 392,102 372,728 382,421 .. Private sector LDOD 12,369 48,218 28,395 164,011 224,578 249,553 247,612 243,136 231,495 ..






Total amount rescheduled 117 1,124 63,739 2,163 4,978 1,194 5,167 33,255 125 .. Debt stock rescheduled 0 1 59,026 370 4,459 582 3,783 18,021 0 .. Principal rescheduled 0 104 3,055 786 105 387 852 1,186 61 .. Official 0 0 1,533 691 99 370 734 167 59 .. Private 0 104 1,522 95 6 17 118 1,020 3 .. Interest rescheduled 0 0 1,507 943 457 98 236 150 42 .. Official 0 0 960 509 307 91 217 81 41 .. Private 0 0 547 434 150 7 18 69 1 ..Debt forgiven 6 28 180 328 230 170 98 244 383 .. Memo: interest forgiven 0 0 259 15 25 29 20 388 300 ..Debt stock reduction 0 0 21,301 11,936 2,903 5,891 19,728 42,650 7,472 .. of which debt buyback 0 0 2,756 9,850 2,158 4,131 15,851 13,282 3,820 ..

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks 17,407 45,354 19,952 32,163 82,541 21,780 -18,236 -22,628 -1,347 .. Net flows on debt 2,825 45,699 18,098 25,396 38,041 12,123 -9,672 6,283 -7,883 19,498 Net change in interest arrears 0 -20 9,067 -785 335 -1,359 -273 -440 5,188 .. Interest capitalized 0 0 1,507 943 457 98 236 150 42 .. Debt forgiveness or reduction -6 -28 -18,724 -2,414 -974 -1,930 -3,975 -29,612 -4,034 .. Cross-currency valuation -50 -890 11,527 -16,774 5,976 -5,524 -9,744 -7,113 15,363 .. Residual 14,638 592 -1,523 25,796 38,707 18,372 5,193 8,104 -10,023 ..

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 7.0 11.4 7.9 7.6 7.6 8.1 8.3 6.9 6.1 .. Maturity (years) 14.4 11.5 15.0 14.0 11.7 10.3 12.6 12.2 13.6 .. Grace period (years) 3.6 4.2 5.1 9.2 5.1 6.3 9.0 7.1 7.4 .. Grant element (%) 16.7 -5.5 12.4 11.7 9.0 8.8 5.3 14.4 20.4 ..Official creditors Interest (%) 6.0 7.8 7.0 6.1 6.4 5.6 5.9 5.2 4.0 .. Maturity (years) 23.4 17.2 18.1 16.6 12.3 14.5 12.6 15.5 17.6 .. Grace period (years) 5.5 4.5 5.0 4.0 2.4 4.8 3.1 3.8 4.7 .. Grant element (%) 27.4 15.0 18.8 21.4 12.0 24.7 18.7 25.6 35.0 ..Private creditors Interest (%) 7.7 12.9 9.1 8.2 8.5 9.5 9.3 7.9 7.6 .. Maturity (years) 8.9 9.3 11.0 12.9 11.2 7.9 12.6 10.4 10.9 .. Grace period (years) 2.4 4.0 5.2 11.3 7.3 7.2 11.5 8.9 9.4 .. Grant element (%) 10.1 -13.7 3.8 7.7 6.4 -0.3 -0.3 8.3 10.5 ..Memorandum items Commitments 4,377 33,806 26,037 75,053 86,988 57,588 63,674 65,800 37,249 .. Official creditors 1,646 9,706 14,893 21,645 39,989 20,982 18,910 23,245 15,167 .. Private creditors 2,731 24,100 11,145 53,408 46,999 36,607 44,764 42,555 22,082 ..




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18 2/2/04 9:04 AMMIDDLE EAST AND NORTH AFRICA


1970 1980 1990 1997 1998 1999 2000 2001 2002 2003


TOTAL DEBT STOCKS (EDT) 4,822 77,368 155,134 172,634 189,329 193,649 180,708 178,400 189,010 188,149Long-term debt (LDOD) 4,167 57,424 120,603 137,612 149,362 149,703 140,873 139,010 148,851 148,464Public and publicly guaranteed 4,152 56,829 119,101 131,086 140,790 142,720 134,344 132,446 142,396 143,140Private nonguaranteed 15 595 1,502 6,526 8,572 6,983 6,529 6,564 6,455 5,324Use of IMF credit 100 916 1,815 2,874 2,954 2,901 2,542 2,340 2,219 1,796Short-term debt .. 19,028 32,716 32,148 37,013 41,045 37,292 37,050 37,940 37,889of which interest arrears on LDOD .. 391 2,878 2,236 2,370 2,538 2,655 2,711 2,835 .. Official creditors .. 391 1,647 2,074 2,221 2,391 2,512 2,569 2,685 .. Private creditors .. 0 1,231 162 149 146 143 142 150 ..Memo: principal arrears on LDOD .. 114 8,187 8,712 9,159 10,209 11,086 11,670 12,537 .. Official creditors .. 108 3,579 7,502 8,073 9,113 10,025 10,611 11,449 .. Private creditors .. 6 4,608 1,210 1,086 1,096 1,062 1,060 1,088 ..Memo: export credits .. 0 49,584 50,472 26,058 23,801 22,504 20,709 22,862 ..

TOTAL DEBT FLOWS Disbursements 891 11,928 13,904 11,043 14,578 12,463 11,673 13,507 14,512 9,614Long-term debt 853 11,578 13,838 10,304 14,127 11,962 11,649 13,342 14,414 9,614IMF purchases 38 350 65 739 451 501 24 165 99 0Principal repayments 413 5,021 13,115 15,027 12,227 15,296 13,932 12,275 14,349 17,324Long-term debt 382 4,789 12,718 14,585 11,732 14,816 13,694 11,997 13,952 16,824IMF repurchases 31 233 397 442 494 480 238 278 396 500Net flows on debt 478 8,114 935 -2,921 7,082 -1,839 -6,130 933 930 -7,761of which short-term debt .. 1,207 146 1,063 4,730 993 -3,870 -298 766 -51Interest payments (INT) .. 5,756 7,413 8,025 8,257 7,963 7,993 7,088 7,110 6,529Long-term debt 100 3,655 4,773 6,192 6,359 5,980 5,698 5,463 5,696 5,262IMF charges 0 32 180 126 127 111 130 104 60 30Short-term debt .. 2,068 2,459 1,707 1,772 1,872 2,166 1,522 1,353 1,237Net transfers on debt .. 2,357 -6,478 -10,946 -1,175 -9,801 -14,124 -6,155 -6,180 -14,290Total debt service paid (TDS) .. 10,778 20,528 23,052 20,484 23,259 21,926 19,363 21,458 23,853Long-term debt 482 8,444 17,492 20,777 18,091 20,796 19,392 17,460 19,649 22,086IMF repurchases and charges 31 265 577 568 621 591 368 382 457 530Short-term debt (interest only) .. 2,068 2,459 1,707 1,772 1,872 2,166 1,522 1,353 1,237


NET RESOURCE FLOWS 971 9,624 11,826 5,735 13,499 3,437 3,692 9,239 5,218 -1,803Net flow of long-term debt (ex. IMF) 471 6,789 1,120 -4,281 2,395 -2,854 -2,046 1,345 462 -7,210Foreign direct investment (net) 119 -1,736 2,605 6,294 7,435 2,942 2,438 5,796 2,653 2,000Portfolio equity flows -1 0 5 693 205 645 243 -122 -281 -12Grants (excluding technical coop.) 382 4,571 8,097 3,029 3,465 2,705 3,056 2,220 2,384 3,619Memo: technical coop. grants 267 998 2,566 1,744 1,655 2,142 1,619 1,911 2,196 2,351 official net resource flows 574 9,223 9,560 -1,005 1,962 216 505 1,255 -141 2,102 private net resource flows 397 400 2,266 6,740 11,538 3,221 3,187 7,984 5,359 -3,906

NET TRANSFERS 871 -2,138 4,828 -5,368 2,514 -7,340 -7,294 -3,256 -6,712 -12,765Interest on long-term debt 100 3,655 4,773 6,192 6,359 5,980 5,698 5,463 5,696 5,262Profit remittances on FDI 0 8,106 2,224 4,911 4,627 4,797 5,289 7,032 6,233 5,700Memo: official net transfers 509 8,441 7,483 -4,906 -1,843 -3,218 -2,630 -1,696 -3,306 -453 private net transfers 362 -10,578 -2,655 -462 4,357 -4,122 -4,665 -1,560 -3,406 -12,312


Gross national income (GNI) 32,734 318,234 351,823 498,425 492,505 516,273 564,109 574,497 572,821 560,744Exports of goods, serv. & inc. (XGS) 0 177,258 141,527 176,613 141,544 170,628 216,349 209,379 222,751 247,392Worker remit. & comp. of employees 0 6,078 11,433 10,833 10,561 10,694 10,976 13,184 13,049 13,000Imports of goods & services (MGS) 0 134,575 133,410 164,180 155,844 154,839 171,928 173,298 186,477 216,824International reserves (RES) 2,337 60,270 30,633 65,492 62,792 65,516 72,434 79,734 96,349 112,273

4. DEBT INDICATORS


19MIDDLE EAST AND NORTH AFRICA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 4,167 57,424 120,603 137,612 149,362 149,703 140,873 139,010 148,851 148,464Public and publicly guaranteed 4,152 56,829 119,101 131,086 140,790 142,720 134,344 132,446 142,396 143,140Official creditors 3,043 27,685 71,059 96,872 101,135 95,632 88,375 86,265 89,266 92,297 Multilateral 172 5,524 15,606 22,421 24,317 24,309 23,392 23,172 24,075 25,158 Concessional 32 2,535 3,572 6,432 7,078 7,557 7,813 8,073 8,445 9,182 Bilateral 2,871 22,161 55,453 74,452 76,818 71,324 64,983 63,093 65,191 67,139 Concessional 2,466 15,332 40,020 51,942 54,786 53,578 49,627 47,573 49,209 50,543Private creditors 1,108 29,145 48,042 34,214 39,655 47,088 45,969 46,181 53,130 50,843 Bonds 38 720 1,783 3,413 4,967 6,693 8,572 12,423 18,038 17,491 Commercial banks 56 10,555 16,371 15,634 19,754 27,603 27,005 23,724 24,885 23,502 Other private 1,014 17,870 29,888 15,167 14,934 12,791 10,391 10,033 10,207 9,850Private nonguaranteed 15 595 1,502 6,526 8,572 6,983 6,529 6,564 6,455 5,324 Bonds 0 0 0 885 785 771 836 936 801 796 Commercial banks and other 15 595 1,502 5,641 7,787 6,212 5,693 5,628 5,654 4,528Memo: IBRD 139 2,384 8,300 8,789 8,823 8,371 7,667 7,293 7,502 7,830 IDA 32 669 1,774 2,360 2,559 2,698 2,685 2,680 2,916 3,196

DISBURSEMENTS 853 11,578 13,838 10,304 14,127 11,962 11,649 13,342 14,414 9,614Public and publicly guaranteed 845 11,324 13,699 9,087 11,075 10,730 10,235 11,864 12,648 9,228Official creditors 420 5,561 5,721 5,024 3,830 3,947 3,335 3,766 3,078 4,846 Multilateral 32 705 2,380 2,826 2,552 2,773 1,862 2,429 2,145 2,886 Concessional 8 182 242 780 804 910 520 778 508 968 Bilateral 388 4,856 3,341 2,197 1,278 1,173 1,472 1,337 933 1,960 Concessional 255 3,451 1,864 1,420 906 880 776 908 730 1,523Private creditors 425 5,763 7,978 4,063 7,245 6,783 6,901 8,098 9,570 4,382 Bonds 5 66 0 1,456 1,450 1,480 2,031 4,853 6,070 790 Commercial banks 17 1,751 927 1,418 3,650 3,044 3,194 1,636 1,780 1,951 Other private 403 3,945 7,051 1,190 2,145 2,259 1,676 1,609 1,720 1,640Private nonguaranteed 8 254 139 1,217 3,052 1,233 1,413 1,478 1,766 386 Bonds 0 0 0 475 0 146 115 200 140 160 Commercial banks and other 8 254 139 742 3,052 1,087 1,298 1,278 1,626 226Memo: IBRD 23 421 1,164 832 610 990 532 707 501 572 IDA 8 82 37 250 180 207 118 118 155 148

PRINCIPAL REPAYMENTS 382 4,789 12,718 14,585 11,732 14,816 13,694 11,997 13,952 16,824Public and publicly guaranteed 379 4,675 12,541 14,093 10,912 12,585 12,920 10,932 11,954 15,414Official creditors 228 909 4,258 9,058 5,333 6,435 5,886 4,731 5,603 6,362 Multilateral 16 202 1,304 2,665 1,983 2,042 2,036 2,097 2,656 3,259 Concessional 0 6 141 233 295 293 374 400 436 599 Bilateral 212 707 2,954 6,393 3,350 4,392 3,851 2,634 2,946 3,103 Concessional 137 386 1,597 1,109 1,325 1,307 1,500 1,688 1,898 1,761Private creditors 152 3,766 8,284 5,035 5,579 6,150 7,033 6,200 6,351 9,052 Bonds 3 33 126 410 10 44 896 574 925 1,615 Commercial banks 2 1,424 2,106 1,729 2,170 2,611 2,901 3,017 3,184 5,121 Other private 146 2,309 6,051 2,896 3,399 3,495 3,237 2,609 2,241 2,316Private nonguaranteed 3 114 177 492 821 2,231 775 1,065 1,998 1,410 Bonds 0 0 0 0 100 160 50 100 275 165 Commercial banks and other 3 114 177 492 721 2,071 725 965 1,723 1,245Memo: IBRD 16 140 761 1,310 936 945 872 832 854 958 IDA 0 1 14 42 36 40 45 54 61 68

NET FLOWS ON DEBT 471 6,789 1,120 -4,281 2,395 -2,854 -2,046 1,345 462 -7,210Public and publicly guaranteed 466 6,649 1,158 -5,006 163 -1,855 -2,684 932 694 -6,186Official creditors 193 4,652 1,463 -4,034 -1,503 -2,488 -2,552 -965 -2,525 -1,516 Multilateral 16 503 1,076 161 568 731 -173 332 -511 -373 Concessional 8 175 101 547 510 617 146 378 72 369 Bilateral 176 4,149 388 -4,195 -2,072 -3,219 -2,378 -1,297 -2,014 -1,144 Concessional 118 3,066 267 311 -419 -428 -724 -780 -1,168 -239Private creditors 273 1,997 -305 -971 1,666 633 -133 1,898 3,219 -4,670 Bonds 2 34 -126 1,046 1,440 1,436 1,135 4,279 5,145 -824 Commercial banks 15 326 -1,179 -310 1,481 433 294 -1,382 -1,404 -3,169 Other private 257 1,637 1,000 -1,707 -1,254 -1,237 -1,561 -1,000 -521 -676Private nonguaranteed 5 140 -38 725 2,232 -999 639 413 -232 -1,024 Bonds 0 0 0 475 -100 -14 65 100 -135 -5 Commercial banks and other 5 140 -38 250 2,332 -985 574 313 -97 -1,019Memo: IBRD 8 281 403 -478 -325 46 -339 -125 -353 -386 IDA 8 81 24 208 144 167 73 63 94 80



INTEREST PAYMENTS (LINT) 100 3,655 4,773 6,192 6,359 5,980 5,698 5,463 5,696 5,262Public and publicly guaranteed 99 3,606 4,665 5,834 5,969 5,668 5,385 5,168 5,475 4,995Official creditors 65 783 2,077 3,901 3,805 3,435 3,134 2,951 3,164 2,555 Multilateral 9 238 860 1,320 1,320 1,387 1,306 1,218 1,219 1,025 Concessional 0 19 56 160 182 183 187 242 216 242 Bilateral 56 544 1,217 2,581 2,484 2,048 1,828 1,732 1,945 1,530 Concessional 42 331 438 923 1,011 838 755 797 1,104 664Private creditors 34 2,823 2,588 1,934 2,164 2,233 2,250 2,217 2,310 2,440 Bonds 2 71 132 173 241 353 474 750 1,101 1,307 Commercial banks 0 1,480 933 620 917 1,086 1,115 959 791 764 Other private 32 1,272 1,523 1,140 1,006 794 661 508 418 369Private nonguaranteed 1 50 108 357 390 312 313 295 222 266 Bonds 0 0 0 37 77 69 69 77 83 61 Commercial banks and other 1 50 108 320 312 243 244 218 139 205Memo: IBRD 9 198 598 624 582 617 603 535 454 392 IDA 0 5 12 20 18 19 20 20 21 22

NET TRANSFERS ON DEBT 371 3,133 -3,653 -10,473 -3,964 -8,834 -7,743 -4,118 -5,235 -12,472Public and publicly guaranteed 367 3,043 -3,507 -10,840 -5,806 -7,523 -8,069 -4,235 -4,781 -11,182Official creditors 128 3,869 -614 -7,935 -5,308 -5,923 -5,686 -3,916 -5,690 -4,071 Multilateral 7 265 215 -1,159 -752 -656 -1,480 -886 -1,731 -1,397 Concessional 8 156 45 387 327 434 -41 135 -144 127 Bilateral 120 3,604 -829 -6,776 -4,556 -5,267 -4,206 -3,030 -3,959 -2,674 Concessional 76 2,735 -171 -612 -1,430 -1,266 -1,479 -1,577 -2,271 -903Private creditors 239 -826 -2,893 -2,905 -498 -1,600 -2,383 -319 909 -7,110 Bonds -1 -38 -259 873 1,198 1,083 660 3,529 4,044 -2,131 Commercial banks 14 -1,154 -2,112 -931 564 -653 -821 -2,341 -2,195 -3,934 Other private 225 365 -523 -2,847 -2,260 -2,030 -2,222 -1,507 -939 -1,045Private nonguaranteed 4 90 -146 367 1,842 -1,311 326 118 -454 -1,290 Bonds 0 0 0 438 -177 -83 -4 23 -218 -66 Commercial banks and other 4 90 -146 -71 2,019 -1,228 330 94 -236 -1,224Memo: IBRD -1 83 -195 -1,103 -907 -571 -942 -659 -806 -777 IDA 8 76 11 189 126 148 54 43 73 57

DEBT SERVICE (LTDS) 482 8,444 17,492 20,777 18,091 20,796 19,392 17,460 19,649 22,086Public and publicly guaranteed 479 8,281 17,207 19,927 16,881 18,253 18,304 16,099 17,428 20,409Official creditors 292 1,692 6,335 12,959 9,138 9,870 9,021 7,682 8,767 8,917 Multilateral 25 440 2,164 3,986 3,304 3,429 3,342 3,316 3,876 4,284 Concessional 0 25 197 393 477 476 560 643 652 840 Bilateral 268 1,252 4,170 8,973 5,834 6,440 5,679 4,366 4,891 4,634 Concessional 179 717 2,035 2,032 2,336 2,146 2,255 2,485 3,001 2,426Private creditors 186 6,589 10,872 6,968 7,743 8,383 9,284 8,417 8,661 11,492 Bonds 6 104 259 583 252 397 1,371 1,324 2,026 2,922 Commercial banks 3 2,904 3,039 2,349 3,086 3,698 4,015 3,977 3,975 5,885 Other private 178 3,581 7,574 4,037 4,405 4,289 3,898 3,117 2,659 2,685Private nonguaranteed 3 164 285 850 1,210 2,543 1,087 1,360 2,220 1,676 Bonds 0 0 0 37 177 229 119 177 358 226 Commercial banks and other 3 164 285 813 1,033 2,315 969 1,184 1,862 1,450Memo: IBRD 24 338 1,359 1,935 1,518 1,562 1,475 1,366 1,307 1,350 IDA 0 6 26 61 54 59 65 74 82 90

UNDISBURSED DEBT 1,915 28,078 32,217 23,858 22,761 25,344 23,308 21,918 20,831 ..Official creditors 1,541 16,007 19,157 17,823 17,151 19,000 16,987 15,767 15,423 ..Private creditors 374 12,071 13,060 6,034 5,610 6,344 6,321 6,152 5,408 ..Memorandum items Concessional LDOD 2,498 17,867 43,592 58,374 61,865 61,135 57,439 55,646 57,654 .. Variable rate LDOD 41 10,209 29,820 43,886 44,644 38,960 35,535 34,187 35,067 .. Public sector LDOD 4,129 53,800 116,463 124,363 128,468 122,277 114,340 114,771 123,396 .. Private sector LDOD 37 3,625 4,141 13,248 20,894 27,426 26,534 24,240 25,455 ..






Total amount rescheduled 0 0 4,565 3,358 1,025 425 340 1,186 290 .. Debt stock rescheduled 0 0 2,732 0 0 0 0 142 0 .. Principal rescheduled 0 0 1,039 2,944 797 274 210 485 121 .. Official 0 0 679 598 252 150 167 464 101 .. Private 0 0 359 2,346 545 125 43 21 20 .. Interest rescheduled 0 0 219 250 86 97 73 174 106 .. Official 0 0 137 107 59 66 55 139 76 .. Private 0 0 82 143 27 31 19 34 31 ..Debt forgiven 0 2 10,614 2,264 24 12 179 116 1 .. Memo: interest forgiven 0 0 2,481 340 1 0 0 0 0 ..Debt stock reduction 0 0 0 0 0 0 120 79 66 .. of which debt buyback 0 0 0 0 0 0 85 35 0 ..

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks -923 9,226 -5,157 -7,864 16,695 4,321 -12,941 -2,307 10,609 .. Net flows on debt 478 8,114 935 -2,921 7,082 -1,839 -6,130 933 2,535 -7,761 Net change in interest arrears 4 68 -1,485 -265 134 167 118 56 124 .. Interest capitalized 0 0 219 250 86 97 73 174 106 .. Debt forgiveness or reduction 0 -2 -10,614 -2,264 -24 -12 -214 -161 -67 .. Cross-currency valuation -1 -868 5,333 -7,555 3,854 -3,469 -4,078 -3,542 7,608 .. Residual -1,404 1,914 455 4,891 5,563 9,376 -2,710 232 305 ..

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.6 6.5 7.4 5.4 5.3 5.1 5.9 5.8 5.4 .. Maturity (years) 18.6 18.4 13.5 15.4 14.1 14.0 12.9 12.2 11.8 .. Grace period (years) 6.2 4.7 4.0 6.1 4.8 4.3 4.8 5.3 4.0 .. Grant element (%) 33.5 23.7 15.7 26.7 27.2 27.1 22.7 22.1 25.1 ..Official creditors Interest (%) 3.7 4.7 5.5 4.5 3.8 3.7 4.7 3.5 3.1 .. Maturity (years) 23.6 24.1 21.4 18.1 20.3 19.1 18.3 20.1 16.8 .. Grace period (years) 8.4 5.9 6.3 5.2 5.6 4.9 5.3 4.6 4.6 .. Grant element (%) 43.6 38.8 32.4 34.1 41.2 39.8 33.8 41.0 39.1 ..Private creditors Interest (%) 6.3 8.6 8.8 6.9 6.8 6.4 7.0 6.9 6.5 .. Maturity (years) 9.4 11.5 7.7 11.1 7.8 9.1 8.4 8.5 9.5 .. Grace period (years) 2.0 3.3 2.3 7.4 4.0 3.7 4.4 5.7 3.7 .. Grant element (%) 14.7 5.6 3.4 15.2 13.1 14.7 13.4 13.4 18.5 ..Memorandum items Commitments 1,207 11,657 15,430 7,428 6,727 11,061 10,615 11,925 10,979 .. Official creditors 785 6,363 6,569 4,549 3,371 5,447 4,834 3,761 3,532 .. Private creditors 422 5,294 8,861 2,879 3,356 5,614 5,781 8,165 7,447 ..




-6.0

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

1996 1997 1998 1999 2000 2001 2002 2003


Private Flows

-10.0 -5.0 0.0 5.0 10.0

1996

1997

1998

1999

2000

2001

2002

2003


Official Flows

-6.0 -4.0 -2.0 0.0 2.0 4.0 6.0

1996

1997

1998

1999

2000

2001

2002

2003


22 2/2/04 9:05 AMSOUTH ASIA


1970 1980 1990 1997 1998 1999 2000 2001 2002 2003


TOTAL DEBT STOCKS (EDT) 12,270 36,615 124,395 149,611 157,625 161,962 159,945 156,295 168,349 171,283Long-term debt (LDOD) 11,721 31,660 107,527 138,619 148,064 152,621 152,019 149,192 158,722 160,327Public and publicly guaranteed 11,616 31,303 105,800 126,938 136,857 142,243 136,611 135,030 144,785 147,889Private nonguaranteed 105 357 1,727 11,681 11,206 10,378 15,408 14,161 13,938 12,437Use of IMF credit 124 2,507 4,537 2,781 2,461 2,323 1,918 2,178 2,416 2,541Short-term debt .. 2,448 12,331 8,210 7,101 7,018 6,009 4,926 7,211 8,416of which interest arrears on LDOD .. 0 17 110 340 141 112 115 126 .. Official creditors .. 0 7 19 164 21 17 33 37 .. Private creditors .. 0 11 92 176 120 95 82 90 ..Memo: principal arrears on LDOD .. 0 34 191 810 261 222 246 273 .. Official creditors .. 0 34 38 532 50 37 80 94 .. Private creditors .. 0 1 153 278 211 185 165 179 ..Memo: export credits .. 0 9,370 13,878 5,197 5,678 6,144 5,651 6,101 ..

TOTAL DEBT FLOWS Disbursements 1,578 6,145 12,098 14,125 15,437 9,756 14,186 9,130 10,638 12,951Long-term debt 1,568 4,498 10,223 13,844 15,124 9,145 13,991 8,489 10,170 12,311IMF purchases 10 1,647 1,875 281 313 611 195 641 468 640Principal repayments 786 1,537 5,259 11,354 9,351 9,364 9,783 8,707 12,500 16,435Long-term debt 525 1,211 4,104 10,242 8,613 8,668 9,300 8,397 12,090 15,609IMF repurchases 260 326 1,155 1,112 738 696 483 310 411 825Net flows on debt 792 5,653 8,389 694 4,746 509 3,423 -662 410 -2,286of which short-term debt .. 1,045 1,550 -2,077 -1,340 117 -980 -1,086 2,273 1,198Interest payments (INT) .. 1,186 6,047 6,497 6,374 5,284 5,648 5,154 5,036 4,939Long-term debt 291 833 4,596 5,728 5,844 4,920 5,272 4,893 4,770 4,680IMF charges 0 61 249 91 63 59 58 61 48 77Short-term debt .. 291 1,202 678 467 305 318 200 217 182Net transfers on debt .. 4,467 2,341 -5,803 -1,627 -4,775 -2,226 -5,816 -4,626 -7,226Total debt service paid (TDS) .. 2,723 11,306 17,851 15,724 14,648 15,431 13,861 17,536 21,374Long-term debt 816 2,045 8,699 15,970 14,457 13,588 14,572 13,290 16,860 20,290IMF repurchases and charges 260 387 1,404 1,203 801 755 541 371 459 902Short-term debt (interest only) .. 291 1,202 678 467 305 318 200 217 182


NET RESOURCE FLOWS 1,361 6,287 8,985 13,517 11,546 8,202 13,035 10,140 5,780 11,383Net flow of long-term debt (ex. IMF) 1,043 3,287 6,119 3,602 6,511 477 4,692 92 -1,920 -3,299Foreign direct investment (net) 68 195 536 4,897 3,548 3,069 3,431 4,979 4,164 5,100Portfolio equity flows 0 0 1 2,876 -627 2,382 2,810 1,908 1,046 6,977Grants (excluding technical coop.) 250 2,806 2,330 2,142 2,115 2,274 2,102 3,161 2,491 2,605Memo: technical coop. grants 113 666 1,493 1,221 1,115 1,155 1,099 1,094 1,271 1,330 official net resource flows 1,267 5,041 6,856 3,265 4,883 4,843 2,899 5,014 83 2,176 private net resource flows 95 1,247 2,129 10,251 6,663 3,358 10,135 5,126 5,697 9,207

NET TRANSFERS 1,070 5,420 4,273 6,783 4,485 2,169 5,125 1,808 -2,224 3,603Interest on long-term debt 291 833 4,596 5,728 5,844 4,920 5,272 4,893 4,770 4,680Profit remittances on FDI 0 34 117 1,006 1,218 1,113 2,637 3,439 3,234 3,100Memo: official net transfers 1,024 4,418 4,677 686 2,517 2,436 634 2,945 -2,027 278 private net transfers 46 1,003 -404 6,096 1,968 -267 4,491 -1,137 -197 3,325



4. DEBT INDICATORS


23SOUTH ASIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 11,721 31,660 107,527 138,619 148,064 152,621 152,019 149,192 158,722 160,327Public and publicly guaranteed 11,616 31,303 105,800 126,938 136,857 142,243 136,611 135,030 144,785 147,889Official creditors 10,911 28,897 81,495 96,155 102,175 110,983 100,832 98,893 103,927 109,554 Multilateral 2,205 9,200 38,068 55,812 59,783 63,031 61,021 60,661 63,072 64,761 Concessional 1,347 7,697 26,757 39,821 42,906 45,315 44,353 44,405 49,914 52,331 Bilateral 8,706 19,697 43,427 40,344 42,392 47,952 39,812 38,232 40,856 44,792 Concessional 7,913 19,132 41,070 36,280 38,596 44,040 35,954 35,610 38,123 42,112Private creditors 705 2,406 24,304 30,782 34,683 31,261 35,778 36,138 40,857 38,336 Bonds 14 2 2,613 2,683 6,796 6,460 10,903 10,947 10,718 6,159 Commercial banks 54 1,670 16,811 22,016 22,853 20,135 22,669 23,504 28,507 30,311 Other private 637 734 4,880 6,083 5,033 4,666 2,207 1,686 1,632 1,866Private nonguaranteed 105 357 1,727 11,681 11,206 10,378 15,408 14,161 13,938 12,437 Bonds 0 0 0 3,847 3,691 2,919 1,560 1,313 1,183 450 Commercial banks and other 105 357 1,727 7,834 7,515 7,458 13,848 12,849 12,755 11,987Memo: IBRD 852 1,242 9,646 11,253 11,188 11,182 10,210 9,832 7,848 6,589 IDA 1,347 7,065 21,071 29,761 31,377 32,131 31,963 32,909 36,501 39,530

DISBURSEMENTS 1,568 4,498 10,223 13,844 15,124 9,145 13,991 8,489 10,170 12,311Public and publicly guaranteed 1,540 4,202 9,970 11,215 13,930 8,592 13,405 7,917 9,361 10,479Official creditors 1,391 3,160 6,904 7,677 7,724 6,928 6,154 6,736 5,851 6,522 Multilateral 198 1,372 4,402 4,091 4,076 4,312 4,344 4,884 4,390 3,095 Concessional 84 1,138 2,327 2,255 2,491 2,324 2,376 3,124 2,906 1,928 Bilateral 1,192 1,788 2,501 3,586 3,648 2,615 1,810 1,852 1,461 3,427 Concessional 1,075 1,587 1,939 2,247 2,950 1,843 1,325 1,589 1,248 2,885Private creditors 150 1,042 3,066 3,538 6,206 1,665 7,251 1,180 3,509 3,958 Bonds 0 0 427 1,075 4,299 0 5,512 159 0 0 Commercial banks 16 797 2,072 1,904 1,225 885 910 733 3,382 3,514 Other private 134 245 567 559 681 780 829 289 128 444Private nonguaranteed 28 297 252 2,629 1,194 553 586 573 809 1,831 Bonds 0 0 0 1,371 300 0 0 0 240 450 Commercial banks and other 28 297 252 1,258 894 553 586 573 569 1,381Memo: IBRD 108 190 1,576 1,032 664 1,078 866 873 681 491 IDA 84 928 1,558 1,502 1,598 1,522 1,655 2,194 2,248 1,428

PRINCIPAL REPAYMENTS 525 1,211 4,104 10,242 8,613 8,668 9,300 8,397 12,090 15,609Public and publicly guaranteed 500 1,113 3,745 9,597 7,996 7,099 8,592 7,544 11,082 13,360Official creditors 374 925 2,378 6,554 4,956 4,358 5,356 4,884 8,259 6,951 Multilateral 64 135 1,009 2,026 1,978 2,243 2,827 2,515 6,427 4,840 Concessional 0 23 239 564 626 711 800 889 957 951 Bilateral 310 790 1,369 4,528 2,978 2,115 2,529 2,369 1,832 2,111 Concessional 219 716 1,225 3,608 2,561 1,597 1,922 1,928 1,452 1,625Private creditors 126 188 1,367 3,043 3,040 2,742 3,236 2,660 2,823 6,410 Bonds 3 0 280 2 264 436 50 86 320 4,584 Commercial banks 11 44 371 1,368 964 1,160 2,845 1,945 2,272 1,581 Other private 111 145 716 1,673 1,812 1,146 341 629 230 245Private nonguaranteed 26 98 359 645 617 1,569 707 853 1,008 2,249 Bonds 0 0 0 150 149 765 35 90 370 0 Commercial banks and other 26 98 359 495 468 804 672 763 638 2,249Memo: IBRD 64 99 553 1,036 1,049 1,134 1,232 965 3,283 2,043 IDA 0 19 151 367 420 489 548 636 691 700

NET FLOWS ON DEBT 1,043 3,287 6,119 3,602 6,511 477 4,692 92 -1,920 -3,299Public and publicly guaranteed 1,041 3,088 6,225 1,618 5,934 1,493 4,813 373 -1,721 -2,881Official creditors 1,017 2,235 4,526 1,123 2,769 2,570 798 1,853 -2,407 -429 Multilateral 134 1,236 3,393 2,065 2,098 2,069 1,517 2,369 -2,036 -1,745 Concessional 84 1,115 2,088 1,691 1,865 1,613 1,576 2,235 1,950 977 Bilateral 882 998 1,133 -942 670 501 -720 -517 -371 1,316 Concessional 856 871 714 -1,361 389 246 -597 -339 -204 1,260Private creditors 24 854 1,700 494 3,165 -1,077 4,015 -1,480 686 -2,452 Bonds -3 0 147 1,073 4,035 -436 5,462 73 -320 -4,584 Commercial banks 4 753 1,701 536 261 -275 -1,935 -1,213 1,109 1,933 Other private 23 100 -149 -1,114 -1,131 -367 488 -340 -103 198Private nonguaranteed 2 199 -107 1,984 577 -1,016 -121 -280 -199 -418 Bonds 0 0 0 1,221 151 -765 -35 -90 -130 450 Commercial banks and other 2 199 -107 763 426 -251 -86 -190 -69 -868Memo: IBRD 44 91 1,023 -5 -384 -56 -366 -92 -2,602 -1,552 IDA 84 909 1,407 1,135 1,178 1,033 1,107 1,558 1,557 728

24SOUTH ASIA


INTEREST PAYMENTS (LINT) 291 833 4,596 5,728 5,844 4,920 5,272 4,893 4,770 4,680Public and publicly guaranteed 285 802 4,448 5,397 5,210 4,117 4,363 4,333 4,456 4,481Official creditors 243 623 2,179 2,579 2,366 2,407 2,265 2,069 2,110 1,898 Multilateral 57 179 1,065 1,429 1,360 1,465 1,366 1,283 1,226 888 Concessional 9 53 198 325 327 368 360 361 386 393 Bilateral 185 444 1,114 1,150 1,006 942 899 786 885 1,010 Concessional 144 414 952 897 747 730 685 607 728 870Private creditors 42 179 2,269 2,818 2,844 1,710 2,098 2,264 2,346 2,583 Bonds 1 0 180 117 130 287 210 407 402 477 Commercial banks 3 123 1,806 2,251 2,341 1,133 1,781 1,761 1,896 2,047 Other private 38 56 283 451 373 291 107 97 48 59Private nonguaranteed 6 31 148 331 634 802 909 560 314 199 Bonds 0 0 0 156 267 245 227 214 164 16 Commercial banks and other 6 31 148 175 366 557 683 346 150 184Memo: IBRD 48 104 752 789 723 699 614 528 468 260 IDA 9 47 149 218 224 235 236 238 254 253

NET TRANSFERS ON DEBT 752 2,454 1,523 -2,126 667 -4,443 -581 -4,801 -6,690 -7,979Public and publicly guaranteed 756 2,287 1,778 -3,779 724 -2,624 450 -3,960 -6,178 -7,362Official creditors 774 1,612 2,347 -1,455 402 163 -1,468 -216 -4,518 -2,327 Multilateral 77 1,058 2,328 637 738 604 151 1,087 -3,262 -2,634 Concessional 75 1,062 1,890 1,365 1,538 1,245 1,215 1,874 1,563 585 Bilateral 697 554 19 -2,092 -336 -442 -1,618 -1,303 -1,255 307 Concessional 712 456 -237 -2,258 -357 -484 -1,282 -946 -932 389Private creditors -18 675 -569 -2,324 322 -2,787 1,917 -3,744 -1,660 -5,035 Bonds -4 0 -33 956 3,905 -722 5,253 -334 -723 -5,061 Commercial banks 1 631 -105 -1,716 -2,080 -1,408 -3,716 -2,974 -787 -114 Other private -15 44 -431 -1,565 -1,504 -657 380 -436 -151 140Private nonguaranteed -4 167 -255 1,653 -57 -1,818 -1,031 -840 -513 -617 Bonds 0 0 0 1,065 -117 -1,010 -262 -304 -294 434 Commercial banks and other -4 167 -255 588 60 -808 -769 -536 -219 -1,051Memo: IBRD -4 -13 270 -794 -1,107 -755 -979 -620 -3,070 -1,812 IDA 75 862 1,257 918 954 798 872 1,320 1,303 475

DEBT SERVICE (LTDS) 816 2,045 8,699 15,970 14,457 13,588 14,572 13,290 16,860 20,290Public and publicly guaranteed 784 1,915 8,192 14,994 13,206 11,217 12,955 11,877 15,538 17,841Official creditors 616 1,548 4,557 9,132 7,322 6,765 7,621 6,952 10,369 8,849 Multilateral 121 314 2,074 3,454 3,338 3,708 4,193 3,797 7,652 5,728 Concessional 9 76 438 890 953 1,078 1,160 1,250 1,343 1,343 Bilateral 495 1,234 2,483 5,678 3,984 3,057 3,428 3,155 2,717 3,120 Concessional 364 1,130 2,176 4,505 3,307 2,327 2,607 2,536 2,180 2,495Private creditors 168 367 3,635 5,862 5,884 4,452 5,334 4,925 5,169 8,993 Bonds 4 0 460 119 394 722 260 493 723 5,061 Commercial banks 15 166 2,177 3,619 3,305 2,293 4,626 3,706 4,168 3,628 Other private 149 201 998 2,124 2,185 1,437 449 726 278 304Private nonguaranteed 32 129 507 976 1,251 2,371 1,617 1,413 1,322 2,448 Bonds 0 0 0 306 417 1,010 262 304 534 16 Commercial banks and other 32 129 507 670 834 1,361 1,355 1,108 788 2,433Memo: IBRD 112 203 1,306 1,826 1,771 1,833 1,845 1,493 3,750 2,303 IDA 9 66 300 584 644 724 784 874 945 953

UNDISBURSED DEBT 3,742 15,150 43,521 37,654 38,910 35,825 26,744 26,720 26,531 ..Official creditors 3,348 13,802 39,366 31,200 28,707 26,275 24,813 24,428 25,115 ..Private creditors 394 1,348 4,155 6,454 10,203 9,550 1,932 2,292 1,416 ..Memorandum items Concessional LDOD 9,259 26,829 67,826 76,101 81,502 89,354 80,307 80,015 88,037 .. Variable rate LDOD 105 1,008 14,678 34,213 35,399 34,686 40,206 36,311 34,236 .. Public sector LDOD 11,164 30,810 105,033 126,236 136,165 141,464 135,847 134,364 144,182 .. Private sector LDOD 557 850 2,494 12,383 11,898 11,157 16,171 14,828 14,541 ..



25SOUTH ASIA



Total amount rescheduled 0 0 0 0 0 3,421 918 13,268 197 .. Debt stock rescheduled 0 0 0 0 0 615 29 11,461 49 .. Principal rescheduled 0 0 0 0 0 2,158 653 1,297 0 .. Official 0 0 0 0 0 1,453 575 1,160 0 .. Private 0 0 0 0 0 705 78 138 0 .. Interest rescheduled 0 0 0 0 0 625 236 129 145 .. Official 0 0 0 0 0 508 200 109 145 .. Private 0 0 0 0 0 118 37 20 0 ..Debt forgiven 1 10 0 0 0 2 9 0 0 .. Memo: interest forgiven 0 0 0 0 0 0 0 0 0 ..Debt stock reduction 0 0 0 0 0 0 0 0 0 .. of which debt buyback 0 0 0 0 0 0 0 0 0 ..

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks 227 4,934 13,105 -12 8,014 4,337 -2,017 -3,650 12,054 .. Net flows on debt 792 5,653 8,389 694 4,746 509 3,423 -662 410 -2,286 Net change in interest arrears -2 -1 5 -7 230 -199 -29 3 12 .. Interest capitalized 0 0 0 0 0 625 236 129 145 .. Debt forgiveness or reduction -1 -10 0 0 0 -2 -9 0 0 .. Cross-currency valuation -338 -1,211 1,586 -8,844 807 1,799 -8,295 -5,342 7,790 .. Residual -224 504 3,125 8,145 2,231 1,605 2,656 2,222 3,696 ..

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 2.5 4.7 4.7 4.7 3.4 3.4 4.6 3.1 2.1 .. Maturity (years) 32.5 32.5 24.2 19.7 14.0 24.3 12.9 22.9 25.0 .. Grace period (years) 9.7 7.4 7.8 6.1 6.0 6.3 5.3 6.2 7.1 .. Grant element (%) 45.3 27.3 34.4 27.8 34.6 46.7 27.6 47.5 56.9 ..Official creditors Interest (%) 2.2 2.2 3.7 3.6 3.7 3.2 5.0 2.8 2.1 .. Maturity (years) 34.8 39.0 28.9 27.2 27.7 27.1 23.4 25.6 26.1 .. Grace period (years) 10.5 8.6 8.1 7.7 7.5 7.1 6.3 7.0 7.2 .. Grant element (%) 48.9 34.7 42.3 37.6 49.3 51.6 36.5 52.7 58.6 ..Private creditors Interest (%) 5.9 12.8 6.8 6.4 3.3 4.7 4.3 4.6 2.9 .. Maturity (years) 11.7 10.9 14.8 8.4 6.3 9.0 5.3 8.5 7.0 .. Grace period (years) 2.6 3.6 7.1 3.7 5.1 2.1 4.6 2.0 4.2 .. Grant element (%) 12.5 2.6 18.7 12.9 26.4 19.8 21.2 19.4 28.9 ..Memorandum items Commitments 2,136 8,492 14,012 13,173 15,860 5,781 12,914 10,574 6,853 .. Official creditors 1,928 6,537 9,330 7,948 5,672 4,895 5,454 8,917 6,453 .. Private creditors 207 1,955 4,682 5,225 10,188 887 7,460 1,657 399 ..




0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

1996 1997 1998 1999 2000 2001 2002 2003


Private Flows

-5.0 0.0 5.0 10.0 15.0

1996

1997

1998

1999

2000

2001

2002

2003


Official Flows

-3.0 -2.0 -1.0 0.0 1.0 2.0 3.0 4.0

1996

1997

1998

1999

2000

2001

2002

2003


26 2/2/04 9:06 AMSUB-SAHARAN AFRICA


1970 1980 1990 1997 1998 1999 2000 2001 2002 2003


TOTAL DEBT STOCKS (EDT) 6,921 60,661 176,826 220,677 228,392 214,712 211,183 202,609 210,350 219,690Long-term debt (LDOD) 6,059 46,484 149,632 172,441 178,578 166,611 171,387 164,607 174,229 183,829Public and publicly guaranteed 5,751 41,917 144,356 163,619 170,329 156,204 160,005 152,147 161,681 167,706Private nonguaranteed 309 4,567 5,276 8,823 8,249 10,407 11,382 12,460 12,548 16,123Use of IMF credit 106 3,033 6,612 7,388 7,387 7,124 6,739 6,323 7,009 7,062Short-term debt .. 11,144 20,582 40,847 42,426 40,977 33,058 31,679 29,112 28,799of which interest arrears on LDOD .. 1,713 9,359 18,193 20,243 19,489 14,141 14,811 14,014 .. Official creditors .. 1,609 6,419 15,437 17,124 16,545 11,701 12,297 11,433 .. Private creditors .. 104 2,940 2,757 3,119 2,944 2,440 2,514 2,580 ..Memo: principal arrears on LDOD .. 1,730 17,819 38,705 43,192 38,238 25,819 26,513 24,409 .. Official creditors .. 1,039 9,893 31,098 34,569 29,954 19,520 19,979 17,553 .. Private creditors .. 691 7,926 7,607 8,624 8,284 6,299 6,534 6,856 ..Memo: export credits .. 0 50,690 53,547 34,781 34,303 32,267 31,409 35,403 ..

TOTAL DEBT FLOWS Disbursements 1,259 11,785 10,363 12,020 8,512 8,605 9,233 9,423 10,695 14,651Long-term debt 1,240 10,568 9,703 11,497 7,711 8,093 8,709 8,833 9,470 14,328IMF purchases 19 1,217 660 523 801 512 525 590 1,224 323Principal repayments 452 3,172 5,582 11,050 9,362 8,942 8,900 9,129 9,002 8,888Long-term debt 389 2,788 4,631 9,984 8,258 8,383 8,438 8,652 8,243 8,405IMF repurchases 63 384 951 1,065 1,104 560 462 477 759 483Net flows on debt 859 10,064 7,059 4,432 -1,326 -953 -704 -1,755 -77 4,883of which short-term debt .. 1,451 2,278 3,462 -477 -616 -1,037 -2,048 -1,770 -880Interest payments (INT) .. 3,506 5,306 4,814 5,021 4,701 4,472 3,658 3,420 4,425Long-term debt 193 2,380 4,362 3,663 3,802 3,490 3,328 2,973 2,802 3,653IMF charges 0 103 238 101 65 54 43 35 143 245Short-term debt .. 1,022 705 1,050 1,155 1,157 1,101 649 475 527Net transfers on debt .. 6,558 1,754 -382 -6,348 -5,655 -5,176 -5,412 -3,497 458Total debt service paid (TDS) .. 6,678 10,888 15,864 14,383 13,643 13,372 12,787 12,422 13,314Long-term debt 582 5,169 8,993 13,647 12,060 11,873 11,766 11,625 11,044 12,058IMF repurchases and charges 63 487 1,189 1,166 1,168 614 505 512 902 728Short-term debt (interest only) .. 1,022 705 1,050 1,155 1,157 1,101 649 475 527


NET RESOURCE FLOWS 1,688 11,519 17,981 25,149 25,175 27,894 20,134 23,517 21,621 28,848Net flow of long-term debt (ex. IMF) 851 7,779 5,072 1,513 -547 -290 271 181 1,228 5,923Foreign direct investment (net) 442 121 972 8,428 6,946 9,307 5,827 14,259 7,822 8,500Portfolio equity flows -1 3 6 5,572 8,653 8,962 4,050 -964 -387 500Grants (excluding technical coop.) 396 3,616 11,931 9,636 10,124 9,915 9,986 10,042 12,958 13,925Memo: technical coop. grants 636 2,675 4,999 4,331 3,866 3,348 3,697 3,992 4,550 4,889 official net resource flows 889 7,194 16,552 11,580 10,869 10,272 10,504 10,152 14,653 15,590 private net resource flows 799 4,325 1,429 13,569 14,307 17,622 9,630 13,365 6,968 13,259

NET TRANSFERS 1,494 6,308 11,681 16,689 17,276 19,025 9,184 12,728 11,013 17,695Interest on long-term debt 193 2,380 4,362 3,663 3,802 3,490 3,328 2,973 2,802 3,653Profit remittances on FDI 0 2,831 1,937 4,797 4,098 5,379 7,622 7,816 7,806 7,500Memo: official net transfers 775 6,505 13,844 9,493 8,818 8,354 8,689 8,549 13,179 13,458 private net transfers 719 -197 -2,163 7,196 8,458 10,671 495 4,179 -2,166 4,236



4. DEBT INDICATORS


27SUB-SAHARAN AFRICA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 6,059 46,484 149,632 172,441 178,578 166,611 171,387 164,607 174,229 183,829Public and publicly guaranteed 5,751 41,917 144,356 163,619 170,329 156,204 160,005 152,147 161,681 167,706Official creditors 4,183 25,730 108,648 130,711 138,129 127,830 134,205 128,142 136,325 141,538 Multilateral 869 7,597 38,144 53,538 57,073 56,066 54,709 54,430 60,930 67,744 Concessional 240 3,986 24,002 41,177 44,930 45,242 45,242 46,182 52,656 59,358 Bilateral 3,314 18,133 70,504 77,173 81,057 71,764 79,496 73,713 75,396 73,794 Concessional 2,961 12,453 34,454 41,904 44,606 38,836 37,168 33,735 35,599 33,904Private creditors 1,567 16,387 35,707 32,908 32,200 28,374 25,800 24,004 25,355 26,168 Bonds 352 637 301 8,357 8,322 8,566 9,150 9,248 10,693 11,883 Commercial banks 128 7,780 14,478 11,604 10,499 9,230 8,958 7,524 7,892 8,800 Other private 1,086 7,970 20,929 12,947 13,379 10,578 7,692 7,232 6,770 5,485Private nonguaranteed 309 4,567 5,276 8,823 8,249 10,407 11,382 12,460 12,548 16,123 Bonds 0 0 0 645 1,036 645 1,360 2,557 3,823 8,045 Commercial banks and other 309 4,567 5,276 8,178 7,213 9,762 10,021 9,904 8,725 8,078Memo: IBRD 587 2,548 9,160 5,293 4,945 4,169 3,473 2,900 2,721 2,674 IDA 226 2,578 15,756 30,267 33,040 33,452 33,621 34,524 39,368 45,206

DISBURSEMENTS 1,240 10,568 9,703 11,497 7,711 8,093 8,709 8,833 9,470 14,328Public and publicly guaranteed 1,139 9,385 9,073 9,622 6,712 7,114 6,616 6,709 7,897 8,992Official creditors 662 4,243 7,169 4,922 4,250 3,820 3,836 3,742 4,376 4,896 Multilateral 150 1,677 4,534 4,058 3,448 3,128 3,176 3,308 3,999 4,492 Concessional 72 860 2,762 3,286 2,928 2,730 2,822 3,134 3,769 3,485 Bilateral 512 2,566 2,636 865 802 692 660 435 377 403 Concessional 440 1,695 2,087 676 580 579 535 315 320 379Private creditors 477 5,142 1,903 4,700 2,462 3,294 2,780 2,966 3,521 4,096 Bonds 12 52 0 1,278 0 1,627 765 1,222 2,472 1,353 Commercial banks 16 2,332 378 2,069 1,754 1,461 1,655 1,188 993 2,680 Other private 448 2,758 1,525 1,353 708 206 359 557 56 62Private nonguaranteed 101 1,183 630 1,875 999 978 2,092 2,124 1,574 5,337 Bonds 0 0 0 45 373 0 712 1,250 1,554 4,113 Commercial banks and other 101 1,183 630 1,830 626 978 1,380 874 20 1,223Memo: IBRD 75 400 808 263 159 89 75 56 55 71 IDA 61 424 2,027 2,397 2,099 1,968 2,193 2,442 2,860 2,750

PRINCIPAL REPAYMENTS 389 2,788 4,631 9,984 8,258 8,383 8,438 8,652 8,243 8,405Public and publicly guaranteed 332 2,196 4,166 6,229 6,845 5,319 7,052 7,048 5,344 6,583Official creditors 169 664 2,549 2,979 3,505 3,463 3,318 3,632 2,681 3,231 Multilateral 33 198 1,347 1,974 1,865 1,871 1,605 1,270 1,587 1,857 Concessional 0 30 269 462 511 541 511 446 603 898 Bilateral 136 467 1,201 1,004 1,640 1,592 1,713 2,362 1,094 1,374 Concessional 110 211 311 564 1,215 1,086 776 855 618 1,131Private creditors 162 1,532 1,617 3,250 3,340 1,856 3,734 3,416 2,663 3,352 Bonds 27 24 31 283 123 92 480 489 941 301 Commercial banks 10 721 1,014 1,806 2,199 1,374 2,441 2,028 906 1,935 Other private 126 786 572 1,161 1,019 390 813 898 816 1,117Private nonguaranteed 57 592 466 3,755 1,413 3,063 1,386 1,604 2,899 1,822 Bonds 0 0 0 0 0 358 0 45 350 0 Commercial banks and other 57 592 466 3,755 1,413 2,706 1,386 1,559 2,549 1,822Memo: IBRD 29 111 719 832 741 685 550 437 459 392 IDA 0 5 51 154 184 230 226 244 304 504

NET FLOWS ON DEBT 851 7,779 5,072 1,513 -547 -290 271 181 1,228 5,923Public and publicly guaranteed 807 7,189 4,907 3,393 -134 1,795 -436 -339 2,553 2,408Official creditors 493 3,578 4,621 1,944 745 357 518 110 1,695 1,665 Multilateral 117 1,479 3,187 2,083 1,583 1,257 1,571 2,038 2,412 2,635 Concessional 72 830 2,493 2,824 2,417 2,190 2,311 2,689 3,166 2,587 Bilateral 376 2,099 1,434 -140 -838 -900 -1,053 -1,928 -717 -971 Concessional 331 1,483 1,776 112 -635 -507 -241 -540 -298 -751Private creditors 314 3,611 286 1,450 -879 1,438 -954 -449 858 744 Bonds -14 28 -31 994 -123 1,535 285 733 1,531 1,053 Commercial banks 6 1,610 -636 263 -445 87 -786 -841 87 746 Other private 322 1,972 953 193 -311 -184 -454 -341 -760 -1,054Private nonguaranteed 44 590 165 -1,881 -413 -2,085 707 520 -1,325 3,515 Bonds 0 0 0 45 373 -358 712 1,205 1,204 4,113 Commercial banks and other 44 590 165 -1,926 -787 -1,727 -6 -685 -2,529 -599Memo: IBRD 45 289 89 -569 -582 -596 -475 -381 -404 -320 IDA 61 419 1,976 2,243 1,915 1,739 1,967 2,198 2,557 2,245



INTEREST PAYMENTS (LINT) 193 2,380 4,362 3,663 3,802 3,490 3,328 2,973 2,802 3,653Public and publicly guaranteed 178 1,930 4,031 3,240 3,463 3,180 2,909 2,486 2,300 3,200Official creditors 113 689 2,707 2,087 2,050 1,918 1,815 1,603 1,474 2,131 Multilateral 35 286 1,110 1,216 1,024 998 837 620 910 801 Concessional 1 29 162 302 300 319 298 254 426 423 Bilateral 79 403 1,597 871 1,026 921 979 983 563 1,330 Concessional 61 209 560 434 627 441 301 290 292 518Private creditors 64 1,241 1,324 1,153 1,412 1,261 1,094 883 827 1,068 Bonds 11 13 13 348 542 549 561 435 500 622 Commercial banks 8 854 622 418 478 345 301 257 148 301 Other private 45 374 688 386 392 368 231 190 179 145Private nonguaranteed 16 451 331 423 339 310 419 488 501 454 Bonds 0 0 0 39 41 73 41 98 160 186 Commercial banks and other 16 451 331 384 298 237 378 389 341 268Memo: IBRD 32 217 649 406 331 294 213 184 200 113 IDA 1 16 97 192 202 219 199 200 285 285

NET TRANSFERS ON DEBT 658 5,399 709 -2,150 -4,349 -3,780 -3,057 -2,793 -1,574 2,270Public and publicly guaranteed 630 5,259 876 153 -3,597 -1,385 -3,345 -2,825 252 -791Official creditors 380 2,889 1,913 -143 -1,306 -1,561 -1,297 -1,493 221 -467 Multilateral 82 1,194 2,077 868 559 259 734 1,418 1,502 1,834 Concessional 71 801 2,331 2,522 2,117 1,871 2,013 2,435 2,739 2,164 Bilateral 297 1,696 -163 -1,011 -1,864 -1,820 -2,031 -2,911 -1,280 -2,301 Concessional 269 1,275 1,216 -321 -1,263 -948 -541 -830 -590 -1,269Private creditors 250 2,370 -1,038 297 -2,291 177 -2,048 -1,332 31 -325 Bonds -25 15 -44 646 -665 986 -276 298 1,031 431 Commercial banks -2 757 -1,258 -156 -923 -258 -1,087 -1,098 -61 444 Other private 277 1,598 265 -194 -703 -552 -685 -531 -939 -1,200Private nonguaranteed 28 140 -166 -2,303 -752 -2,395 288 32 -1,826 3,061 Bonds 0 0 0 6 332 -431 671 1,107 1,043 3,927 Commercial banks and other 28 140 -166 -2,309 -1,085 -1,964 -383 -1,075 -2,870 -866Memo: IBRD 14 72 -560 -975 -913 -890 -687 -565 -604 -434 IDA 60 403 1,879 2,051 1,714 1,520 1,768 1,998 2,271 1,961

DEBT SERVICE (LTDS) 582 5,169 8,993 13,647 12,060 11,873 11,766 11,625 11,044 12,058Public and publicly guaranteed 510 4,126 8,197 9,469 10,308 8,499 9,961 9,534 7,644 9,783Official creditors 283 1,354 5,256 5,066 5,555 5,381 5,133 5,235 4,154 5,362 Multilateral 68 483 2,457 3,190 2,889 2,869 2,442 1,890 2,497 2,658 Concessional 1 59 431 764 811 859 809 699 1,029 1,321 Bilateral 215 870 2,799 1,876 2,666 2,512 2,692 3,346 1,657 2,704 Concessional 171 420 871 998 1,842 1,527 1,077 1,145 910 1,649Private creditors 227 2,772 2,941 4,403 4,753 3,118 4,828 4,298 3,490 4,421 Bonds 38 37 44 631 665 641 1,041 924 1,441 923 Commercial banks 18 1,575 1,636 2,225 2,677 1,719 2,742 2,286 1,054 2,236 Other private 171 1,160 1,260 1,547 1,410 758 1,044 1,088 995 1,262Private nonguaranteed 72 1,043 796 4,178 1,751 3,374 1,805 2,092 3,400 2,276 Bonds 0 0 0 39 41 431 41 143 510 186 Commercial banks and other 72 1,043 796 4,139 1,711 2,943 1,764 1,949 2,890 2,090Memo: IBRD 61 328 1,368 1,238 1,072 979 763 621 659 505 IDA 1 22 148 346 385 449 425 444 589 789

UNDISBURSED DEBT 2,734 20,792 34,160 22,300 21,722 18,529 16,887 18,046 18,718 ..Official creditors 2,279 14,317 30,185 19,236 19,702 17,057 16,072 17,422 18,021 ..Private creditors 455 6,475 3,975 3,064 2,020 1,472 815 624 696 ..Memorandum items Concessional LDOD 3,201 16,439 58,455 83,082 89,536 84,079 82,410 79,916 88,256 .. Variable rate LDOD 356 11,865 29,445 32,345 30,430 29,724 27,263 25,981 30,045 .. Public sector LDOD 5,689 42,023 144,186 163,575 170,086 155,687 159,035 151,523 161,046 .. Private sector LDOD 370 4,660 5,446 8,866 8,493 10,924 12,351 13,084 13,183 ..






Total amount rescheduled 0 444 5,987 6,534 3,005 3,262 22,825 2,768 4,693 .. Debt stock rescheduled 0 0 91 2 432 773 62 334 360 .. Principal rescheduled 0 269 3,969 2,139 1,049 1,165 13,228 733 2,751 .. Official 0 120 2,696 1,790 975 1,109 11,198 589 2,569 .. Private 0 149 1,274 349 74 56 2,030 144 182 .. Interest rescheduled 0 63 1,724 2,185 506 488 9,099 451 1,559 .. Official 0 31 1,376 1,259 461 479 8,545 394 1,504 .. Private 0 31 348 926 46 9 554 58 55 ..Debt forgiven 3 194 1,602 703 304 4,521 637 1,256 3,741 .. Memo: interest forgiven 0 0 87 247 573 502 342 1,029 1,942 ..Debt stock reduction 0 0 1,262 4,813 350 820 443 2,413 823 .. of which debt buyback 0 0 0 169 102 325 137 7 452 ..

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks 1,092 11,660 19,799 -10,509 7,715 -13,680 -3,528 -8,575 7,741 .. Net flows on debt 859 10,064 7,059 4,432 -1,326 -990 -793 -1,755 -77 4,883 Net change in interest arrears 6 321 2,245 -1,889 2,050 -754 -5,348 670 -797 .. Interest capitalized 0 63 1,724 2,185 506 488 9,099 451 1,559 .. Debt forgiveness or reduction -3 -194 -2,864 -5,347 -552 -5,015 -944 -3,661 -4,112 .. Cross-currency valuation -33 -1,140 7,690 -13,725 -72 -6,753 -6,708 -4,096 8,659 .. Residual 263 2,547 3,944 3,835 7,109 -655 1,166 -184 2,510 ..

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 3.7 7.0 4.3 4.8 2.5 3.6 3.2 2.6 3.5 .. Maturity (years) 23.9 17.3 25.2 20.1 29.1 22.5 24.3 28.2 23.6 .. Grace period (years) 9.7 5.1 6.9 6.0 7.1 6.2 6.2 7.8 7.5 .. Grant element (%) 47.5 21.7 43.4 34.0 57.7 45.2 48.0 56.2 47.3 ..Official creditors Interest (%) 2.0 4.1 3.5 1.6 1.4 1.4 1.0 1.2 1.1 .. Maturity (years) 32.0 25.1 28.2 36.5 35.1 34.6 38.2 37.3 36.6 .. Grace period (years) 14.3 6.8 7.8 9.0 8.8 8.7 9.7 10.1 9.2 .. Grant element (%) 67.4 42.8 51.1 69.7 70.9 70.0 76.3 74.6 74.0 ..Private creditors Interest (%) 6.6 10.0 8.1 6.7 6.4 6.2 5.8 5.6 6.4 .. Maturity (years) 10.2 9.4 11.7 10.3 9.1 8.6 7.1 8.1 7.6 .. Grace period (years) 1.8 3.3 2.8 4.1 1.7 3.3 2.1 2.7 5.4 .. Grant element (%) 13.3 0.2 7.7 12.4 13.7 16.5 13.3 15.4 14.3 ..Memorandum items Commitments 1,888 13,284 11,482 10,601 6,489 6,796 7,742 9,614 8,325 .. Official creditors 1,194 6,722 9,443 3,988 4,993 3,640 4,261 6,625 4,609 .. Private creditors 694 6,563 2,039 6,613 1,496 3,156 3,480 2,989 3,716 ..




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Official Flows

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30 2/5/04 9:15 AMLOW-INCOME COUNTRIES


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 23,717 120,742 411,419 527,259 520,179 554,970 550,656 526,453 504,990 523,464Long-term debt (LDOD) 21,871 98,885 351,318 435,608 431,752 473,119 468,268 450,517 433,309 448,932Public and publicly guaranteed 20,824 90,708 333,365 382,093 367,590 399,707 402,895 386,858 378,370 399,076Private nonguaranteed 1,047 8,177 17,953 53,515 64,162 73,412 65,373 63,659 54,939 49,857Use of IMF credit 318 5,324 11,317 12,659 14,332 20,805 21,909 21,485 19,629 20,258Short-term debt .. 16,533 48,783 78,993 74,095 61,046 60,480 54,451 52,052 54,273of which interest arrears on LDOD .. 1,727 12,968 24,311 20,767 23,247 26,040 20,308 21,813 21,893 Official creditors .. 1,615 8,651 19,782 17,901 19,955 19,501 13,131 13,590 12,706 Private creditors .. 112 4,317 4,529 2,867 3,292 6,539 7,177 8,223 9,188Memo: principal arrears on LDOD .. 1,771 23,878 57,201 50,046 58,872 54,801 34,776 35,608 33,832 Official creditors .. 1,053 13,552 44,558 41,752 46,889 42,947 24,938 25,589 23,364 Private creditors .. 718 10,326 12,643 8,293 11,983 11,854 9,838 10,019 10,468Memo: export credits .. 0 69,262 78,521 85,700 50,018 50,648 49,567 48,825 53,991

TOTAL DEBT FLOWS Disbursements 3,643 21,857 33,415 43,977 47,849 41,472 29,239 30,024 22,603 24,301Long-term debt 3,577 19,042 30,886 42,566 43,605 34,333 26,232 28,060 20,691 21,139IMF purchases 66 2,815 2,529 1,411 4,243 7,139 3,007 1,965 1,911 3,163Principal repayments 1,362 6,207 16,988 32,715 31,491 28,131 28,424 26,860 25,979 32,516Long-term debt 1,054 5,496 14,807 30,701 29,715 26,638 27,040 25,680 23,249 28,730IMF repurchases 308 711 2,181 2,015 1,776 1,493 1,384 1,179 2,730 3,786Net flows on debt 2,333 19,308 23,548 19,997 18,297 810 -545 2,867 -6,479 -6,074of which short-term debt .. 3,657 7,121 8,735 1,939 -12,531 -1,359 -297 -3,104 2,141Interest payments (INT) .. 6,056 15,308 17,038 17,064 17,674 14,967 16,907 14,099 11,782Long-term debt 531 4,362 12,360 14,259 14,050 14,936 12,603 14,110 12,077 10,226IMF charges 0 153 511 276 210 338 527 678 602 473Short-term debt .. 1,541 2,437 2,503 2,804 2,401 1,837 2,119 1,420 1,082Net transfers on debt .. 13,252 8,240 2,960 1,232 -16,865 -15,512 -14,040 -20,377 -17,855Total debt service paid (TDS) .. 12,263 32,296 49,753 48,555 45,805 43,392 43,767 40,078 44,298Long-term debt 1,585 9,858 27,167 44,960 43,765 41,574 39,643 39,791 35,326 38,956IMF repurchases and charges 308 864 2,692 2,291 1,986 1,831 1,911 1,858 3,331 4,260Short-term debt (interest only) .. 1,541 2,437 2,503 2,804 2,401 1,837 2,119 1,420 1,082


NET RESOURCE FLOWS 3,818 21,125 33,747 49,893 43,850 29,925 26,032 24,381 26,785 24,401Net flow of long-term debt (ex. IMF) 2,523 13,546 16,079 11,865 13,890 7,695 -808 2,379 -2,557 -7,591Foreign direct investment (net) 276 417 2,764 17,504 18,532 12,931 10,912 5,788 11,327 12,941Portfolio equity flows 0 -1 6 5,985 -2,047 -4,966 1,636 1,791 2,361 1,927Grants (excluding technical coop.) 1,019 7,163 14,898 14,539 13,475 14,265 14,292 14,424 15,654 17,124Memo: technical coop. grants 1,014 3,831 7,293 7,695 6,707 6,224 6,000 6,369 6,698 7,786 official net resource flows 2,867 14,554 26,927 19,021 18,386 22,386 23,024 19,640 20,312 17,249 private net resource flows 951 6,571 6,820 30,873 25,464 7,539 3,008 4,741 6,473 7,151

NET TRANSFERS 3,287 14,081 17,229 29,376 23,160 9,128 6,396 -821 3,793 3,689Interest on long-term debt 531 4,362 12,360 14,259 14,050 14,936 12,603 14,110 12,077 10,226Profit remittances on FDI 0 2,683 4,157 6,258 6,641 5,862 7,033 11,092 10,914 10,486Memo: official net transfers 2,498 12,914 20,541 11,376 11,503 15,681 16,185 12,771 13,780 11,637 private net transfers 789 1,167 -3,312 17,999 11,657 -6,553 -9,789 -13,592 -9,987 -7,948


Gross national income (GNI) 159,062 596,551 842,637 959,660 979,464 860,318 932,084 966,932 992,993 1,068,269Exports of goods, serv. & inc. (XGS) 217 75,226 141,640 212,497 231,926 213,446 232,255 285,260 276,037 299,291Worker remit. & comp. of employees 0 6,396 8,138 16,103 19,739 18,761 20,714 18,457 21,010 25,701Imports of goods & services (MGS) 231 84,719 171,745 254,850 269,369 250,191 252,821 291,608 285,469 307,824International reserves (RES) 3,591 36,261 26,020 68,128 73,867 81,304 93,195 106,473 117,895 151,405

4. DEBT INDICATORS


31LOW-INCOME COUNTRIES


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 21,871 98,885 351,318 435,608 431,752 473,119 468,268 450,517 433,309 448,932Public and publicly guaranteed 20,824 90,708 333,365 382,093 367,590 399,707 402,895 386,858 378,370 399,076Official creditors 18,172 66,290 254,671 314,579 296,149 320,013 329,063 314,560 306,039 324,897 Multilateral 3,065 19,402 92,496 132,336 130,539 141,451 146,707 143,717 143,544 153,965 Concessional 1,594 13,032 54,080 85,278 87,063 95,077 98,798 98,396 100,139 113,719 Bilateral 15,106 46,889 162,175 182,243 165,609 178,562 182,356 170,843 162,495 170,932 Concessional 13,610 39,916 120,276 133,959 109,924 121,218 126,967 115,723 110,581 119,256Private creditors 2,652 24,617 78,694 67,514 71,442 79,694 73,832 72,298 72,331 74,179 Bonds 340 918 3,648 4,964 9,035 13,030 12,397 16,844 16,669 15,660 Commercial banks 233 11,957 41,762 35,557 40,046 44,817 41,800 42,156 44,110 47,189 Other private 2,079 11,742 33,285 26,993 22,361 21,847 19,635 13,298 11,552 11,330Private nonguaranteed 1,047 8,177 17,953 53,515 64,162 73,412 65,373 63,659 54,939 49,857 Bonds 0 0 120 9,394 13,758 13,538 11,602 8,147 6,544 5,943 Commercial banks and other 1,047 8,177 17,833 44,121 50,403 59,874 53,771 55,512 48,395 43,913Memo: IBRD 1,414 4,825 28,296 29,636 26,841 27,190 27,193 25,861 24,697 21,850 IDA 1,573 10,520 38,765 61,954 63,546 68,626 70,417 70,727 73,074 82,538

DISBURSEMENTS 3,577 19,042 30,886 42,566 43,605 34,333 26,232 28,060 20,691 21,139Public and publicly guaranteed 3,143 16,860 24,703 26,359 27,198 29,351 22,896 24,717 17,814 18,441Official creditors 2,403 9,315 18,576 17,599 18,292 19,471 18,916 15,731 14,842 13,460 Multilateral 356 3,653 10,772 11,284 11,283 11,188 11,344 10,368 10,603 10,605 Concessional 161 2,229 5,272 6,939 6,608 6,525 6,247 6,242 7,379 7,809 Bilateral 2,047 5,662 7,804 6,315 7,008 8,283 7,572 5,363 4,239 2,854 Concessional 1,864 4,429 6,326 4,606 4,705 6,839 6,485 4,042 3,715 2,584Private creditors 739 7,544 6,127 8,760 8,906 9,880 3,980 8,986 2,971 4,981 Bonds 6 97 427 945 1,150 4,234 0 5,512 0 300 Commercial banks 81 4,029 2,898 4,905 5,188 3,995 2,540 2,509 2,153 4,410 Other private 652 3,418 2,801 2,910 2,568 1,651 1,440 965 818 271Private nonguaranteed 435 2,182 6,183 16,207 16,407 4,982 3,336 3,342 2,878 2,698 Bonds 0 0 120 4,566 4,749 800 0 350 0 390 Commercial banks and other 435 2,182 6,063 11,641 11,658 4,182 3,336 2,992 2,878 2,308Memo: IBRD 185 917 3,409 2,202 2,238 2,064 2,721 2,057 1,572 1,063 IDA 146 1,473 3,588 4,850 4,520 4,335 4,197 4,403 5,300 5,772

PRINCIPAL REPAYMENTS 1,054 5,496 14,807 30,701 29,715 26,638 27,040 25,680 23,249 28,730Public and publicly guaranteed 890 4,077 12,573 22,646 21,004 18,019 18,497 18,743 16,736 20,760Official creditors 556 1,924 6,547 13,118 13,381 11,349 10,184 10,515 10,185 13,334 Multilateral 96 375 3,010 6,865 5,854 5,039 5,227 5,623 5,067 9,578 Concessional 0 61 574 1,071 1,127 1,263 1,350 1,423 1,438 1,642 Bilateral 460 1,549 3,538 6,253 7,526 6,311 4,957 4,892 5,118 3,756 Concessional 346 1,125 2,164 3,964 5,334 4,878 3,622 3,086 3,088 2,710Private creditors 334 2,153 6,025 9,528 7,624 6,669 8,312 8,227 6,551 7,426 Bonds 26 37 405 1,353 32 317 731 46 137 1,051 Commercial banks 30 809 3,190 4,971 4,131 3,317 5,508 6,873 5,164 5,461 Other private 278 1,308 2,430 3,204 3,460 3,035 2,073 1,309 1,250 914Private nonguaranteed 164 1,419 2,234 8,055 8,711 8,619 8,544 6,938 6,513 7,969 Bonds 0 0 0 225 459 790 2,003 2,435 1,440 991 Commercial banks and other 164 1,419 2,234 7,830 8,252 7,829 6,541 4,503 5,073 6,979Memo: IBRD 91 236 1,774 3,413 2,999 2,511 2,576 2,540 2,239 4,783 IDA 0 26 218 517 555 632 752 809 905 1,018

NET FLOWS ON DEBT 2,523 13,546 16,079 11,865 13,890 7,695 -808 2,379 -2,557 -7,591Public and publicly guaranteed 2,253 12,782 12,130 3,713 6,194 11,332 4,399 5,975 1,078 -2,320Official creditors 1,848 7,391 12,029 4,481 4,911 8,121 8,732 5,216 4,658 126 Multilateral 260 3,278 7,763 4,419 5,429 6,149 6,117 4,745 5,536 1,027 Concessional 161 2,169 4,698 5,868 5,481 5,262 4,898 4,819 5,942 6,167 Bilateral 1,588 4,113 4,267 62 -518 1,972 2,615 471 -878 -901 Concessional 1,518 3,304 4,163 641 -629 1,961 2,863 956 627 -126Private creditors 405 5,391 101 -768 1,283 3,211 -4,332 759 -3,580 -2,445 Bonds -20 60 22 -408 1,118 3,917 -731 5,466 -137 -751 Commercial banks 51 3,220 -292 -66 1,057 678 -2,968 -4,364 -3,011 -1,052 Other private 374 2,111 371 -294 -892 -1,384 -633 -344 -432 -643Private nonguaranteed 271 763 3,949 8,152 7,697 -3,637 -5,208 -3,596 -3,635 -5,272 Bonds 0 0 120 4,341 4,291 10 -2,003 -2,085 -1,440 -601 Commercial banks and other 271 763 3,829 3,811 3,406 -3,647 -3,205 -1,510 -2,195 -4,671Memo: IBRD 94 681 1,635 -1,211 -761 -447 145 -484 -667 -3,720 IDA 146 1,448 3,370 4,333 3,965 3,703 3,445 3,594 4,395 4,754



INTEREST PAYMENTS (LINT) 531 4,362 12,360 14,259 14,050 14,936 12,603 14,110 12,077 10,226Public and publicly guaranteed 480 3,502 11,215 11,935 11,501 11,394 10,740 10,938 10,294 8,827Official creditors 369 1,640 6,386 7,644 6,883 6,706 6,839 6,870 6,532 5,613 Multilateral 91 596 3,130 4,122 3,732 3,550 3,788 3,709 3,369 3,525 Concessional 11 102 393 679 687 714 769 757 696 886 Bilateral 278 1,044 3,256 3,522 3,151 3,156 3,051 3,161 3,163 2,088 Concessional 221 758 1,940 2,236 2,130 2,114 2,042 1,873 1,830 1,502Private creditors 111 1,862 4,829 4,291 4,618 4,689 3,902 4,069 3,762 3,214 Bonds 11 34 258 798 382 519 720 587 634 579 Commercial banks 14 1,173 3,142 1,980 3,181 3,236 2,347 2,944 2,686 2,416 Other private 86 655 1,429 1,513 1,056 934 835 538 443 220Private nonguaranteed 51 860 1,145 2,324 2,549 3,541 1,863 3,172 1,783 1,399 Bonds 0 0 0 367 721 1,159 1,083 975 774 640 Commercial banks and other 51 860 1,145 1,957 1,827 2,383 780 2,196 1,009 759Memo: IBRD 78 412 2,104 2,272 1,917 1,798 1,840 1,801 1,660 1,557 IDA 10 70 260 421 431 448 481 466 465 571

NET TRANSFERS ON DEBT 1,992 9,184 3,719 -2,394 -160 -7,241 -13,411 -11,731 -14,635 -17,817Public and publicly guaranteed 1,773 9,281 915 -8,222 -5,307 -62 -6,341 -4,964 -9,216 -11,147Official creditors 1,479 5,751 5,643 -3,163 -1,972 1,415 1,893 -1,654 -1,874 -5,487 Multilateral 169 2,682 4,633 297 1,697 2,599 2,329 1,037 2,167 -2,498 Concessional 151 2,067 4,305 5,189 4,794 4,548 4,128 4,062 5,245 5,281 Bilateral 1,309 3,069 1,010 -3,460 -3,669 -1,184 -437 -2,690 -4,041 -2,989 Concessional 1,296 2,546 2,223 -1,594 -2,759 -153 821 -916 -1,203 -1,628Private creditors 294 3,530 -4,728 -5,059 -3,335 -1,477 -8,234 -3,310 -7,342 -5,660 Bonds -31 27 -236 -1,206 736 3,399 -1,451 4,880 -771 -1,330 Commercial banks 37 2,047 -3,434 -2,046 -2,124 -2,558 -5,315 -7,308 -5,697 -3,467 Other private 288 1,456 -1,058 -1,807 -1,948 -2,318 -1,468 -882 -874 -863Private nonguaranteed 220 -96 2,804 5,828 5,148 -7,179 -7,070 -6,767 -5,419 -6,671 Bonds 0 0 120 3,974 3,569 -1,149 -3,086 -3,061 -2,215 -1,241 Commercial banks and other 220 -96 2,684 1,854 1,578 -6,030 -3,984 -3,707 -3,204 -5,430Memo: IBRD 16 269 -468 -3,483 -2,677 -2,245 -1,695 -2,285 -2,327 -5,277 IDA 136 1,378 3,110 3,912 3,534 3,255 2,964 3,127 3,930 4,182

DEBT SERVICE (LTDS) 1,585 9,858 27,167 44,960 43,765 41,574 39,643 39,791 35,326 38,956Public and publicly guaranteed 1,370 7,579 23,787 34,581 32,505 29,413 29,237 29,681 27,030 29,587Official creditors 925 3,564 12,933 20,762 20,264 18,055 17,023 17,385 16,717 18,946 Multilateral 187 971 6,139 10,987 9,586 8,588 9,015 9,332 8,436 13,103 Concessional 11 162 968 1,750 1,814 1,977 2,119 2,179 2,134 2,528 Bilateral 738 2,593 6,794 9,775 10,677 9,467 8,008 8,053 8,281 5,843 Concessional 568 1,882 4,104 6,200 7,464 6,993 5,664 4,958 4,918 4,212Private creditors 445 4,015 10,854 13,819 12,242 11,358 12,214 12,296 10,313 10,641 Bonds 37 71 663 2,151 414 835 1,451 632 771 1,630 Commercial banks 44 1,982 6,332 6,951 7,312 6,553 7,855 9,817 7,850 7,877 Other private 364 1,962 3,859 4,717 4,516 3,969 2,908 1,847 1,693 1,134Private nonguaranteed 215 2,279 3,380 10,379 11,259 12,161 10,406 10,110 8,296 9,369 Bonds 0 0 0 592 1,180 1,949 3,086 3,411 2,215 1,631 Commercial banks and other 215 2,279 3,380 9,787 10,079 10,212 7,321 6,699 6,081 7,738Memo: IBRD 169 647 3,877 5,685 4,915 4,309 4,416 4,341 3,899 6,340 IDA 11 95 478 938 986 1,080 1,233 1,276 1,371 1,590

UNDISBURSED DEBT 7,038 47,676 99,750 93,880 88,316 85,098 79,013 64,087 62,934 63,462Official creditors 6,161 37,133 85,105 81,410 76,232 71,957 67,542 60,067 59,178 60,729Private creditors 877 10,544 14,645 12,470 12,084 13,141 11,470 4,020 3,755 2,733Memorandum items Concessional LDOD 15,204 52,948 174,356 219,237 196,988 216,295 225,765 214,119 210,721 232,975 Variable rate LDOD 1,093 18,834 73,175 118,841 132,726 149,488 143,609 138,867 128,623 125,132 Public sector LDOD 20,328 90,310 332,495 381,024 366,684 398,757 401,936 386,034 377,653 398,294 Private sector LDOD 1,543 8,774 18,823 54,583 65,068 74,362 66,332 64,483 55,656 50,639


Euro .. .. .. .. .. .. .. .. 9.5 9.7Deutsche mark 8.0 7.6 5.5 4.9 4.5 4.5 3.9 3.0 .. ..French franc 5.5 7.4 6.7 6.3 5.5 5.4 4.5 3.8 .. ..Japanese yen 4.2 9.5 11.2 13.3 12.6 13.9 16.3 14.0 12.6 13.5Pound sterling 18.1 9.0 4.0 3.0 3.1 2.9 2.7 2.0 1.8 1.7Swiss franc 0.4 1.0 1.1 1.0 0.9 0.8 0.7 0.7 0.7 0.8U.S.dollars 37.4 39.7 38.7 39.3 44.4 47.9 49.3 57.0 59.5 59.4Multiple currency 8.1 8.6 13.2 14.7 14.0 10.6 10.5 9.9 9.1 8.2Special drawing rights 0.0 0.0 0.6 1.0 1.0 1.1 1.1 1.1 1.2 1.2All other currencies 18.3 17.5 18.9 16.6 13.9 13.1 11.0 8.4 5.7 5.5




Total amount rescheduled 0 1,202 6,254 6,665 8,962 7,350 12,081 26,123 19,757 9,515 Debt stock rescheduled 0 0 91 1,626 986 3,671 4,688 110 12,044 1,856 Principal rescheduled 0 269 3,879 3,258 2,987 1,590 4,892 16,027 5,068 5,307 Official 0 120 2,762 2,160 1,952 1,322 3,342 13,160 3,894 4,515 Private 0 149 1,117 1,099 1,035 268 1,550 2,867 1,174 792 Interest rescheduled 0 63 1,676 1,147 2,560 545 1,175 9,106 559 2,445 Official 0 31 1,378 918 1,285 497 1,044 8,513 471 2,265 Private 0 31 298 230 1,275 48 132 593 88 180Debt forgiven 3 201 1,594 4,112 3,095 350 4,695 681 1,356 4,054 Memo: interest forgiven 0 0 87 1,084 590 582 511 1,981 1,455 2,114Debt stock reduction 0 0 1,262 4,443 5,177 350 859 9,202 2,571 823 of which debt buyback 0 0 0 301 200 102 325 137 33 452

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks 2,859 20,675 47,644 -4,422 -7,081 34,791 -4,313 -24,204 -21,463 18,474 Net flows on debt 2,333 19,308 23,548 19,997 18,297 810 -545 2,867 -6,479 -6,074 Net change in interest arrears 10 285 3,062 -1,243 -3,544 2,479 2,793 -5,732 1,505 80 Interest capitalized 0 63 1,676 1,147 2,560 545 1,175 9,106 559 2,445 Debt forgiveness or reduction -3 -201 -2,856 -8,254 -8,073 -599 -5,228 -9,746 -3,894 -4,425 Cross-currency valuation -372 -2,224 14,346 -27,154 -28,277 3,996 -2,727 -20,610 -14,411 21,994 Residual 891 3,444 7,867 11,085 11,957 27,560 219 -89 1,258 4,454

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 3.1 6.3 4.9 4.2 4.5 3.4 3.1 3.7 2.6 2.2 Maturity (years) 28.7 22.9 23.6 22.4 21.2 19.8 24.2 19.9 27.7 27.9 Grace period (years) 9.7 6.0 6.9 6.8 5.9 6.3 6.5 6.4 7.4 7.5 Grant element (%) 47.4 24.1 35.7 36.9 34.4 41.9 49.3 41.0 55.8 59.0Official creditors Interest (%) 2.2 3.5 4.1 3.5 3.3 3.1 2.7 3.0 2.2 1.7 Maturity (years) 33.6 30.9 26.9 28.1 28.7 27.1 26.8 30.0 31.0 31.1 Grace period (years) 11.7 7.7 7.5 7.9 7.7 7.3 7.2 8.0 8.3 8.1 Grant element (%) 56.6 39.4 42.8 45.8 46.6 51.6 54.5 56.3 62.1 65.4Private creditors Interest (%) 6.5 10.8 7.3 6.2 6.4 3.8 5.7 4.7 4.9 5.5 Maturity (years) 10.8 10.0 13.9 8.5 8.6 6.6 8.1 5.3 7.3 6.0 Grace period (years) 2.3 3.3 5.5 4.0 3.0 4.6 2.1 4.2 1.5 3.4 Grant element (%) 13.1 -0.6 15.3 15.3 13.9 24.6 16.0 19.1 15.8 13.7Memorandum items Commitments 4,622 26,758 32,224 29,885 26,884 33,369 19,210 22,988 22,661 16,320 Official creditors 3,643 16,521 23,963 21,117 16,897 21,435 16,605 13,543 19,539 14,289 Private creditors 979 10,237 8,261 8,769 9,987 11,934 2,605 9,445 3,121 2,031




0.0

10.0

20.0

30.0

40.0

50.0

60.0

1995 1996 1997 1998 1999 2000 2001 2002


Private Flows

-20.0 -10.0 0.0 10.0 20.0 30.0

1995

1996

1997

1998

1999

2000

2001

2002


Official Flows

-5.0 0.0 5.0 10.0 15.0 20.0

1995

1996

1997

1998

1999

2000

2001

2002


34 3/17/04 12:20 PMMIDDLE-INCOME COUNTRIES


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 46,454 432,900 940,479 1,528,871 1,602,432 1,787,121 1,824,014 1,778,512 1,761,755 1,815,384Long-term debt (LDOD) 38,765 311,038 749,931 1,178,445 1,237,903 1,433,398 1,492,366 1,472,691 1,429,191 1,467,697Public and publicly guaranteed 24,611 250,959 707,793 952,643 947,353 1,006,336 1,020,461 989,665 945,241 977,273Private nonguaranteed 14,155 60,079 42,138 225,802 290,550 427,062 471,905 483,026 483,949 490,424Use of IMF credit 438 6,237 23,334 47,438 45,402 56,137 50,854 36,962 55,653 75,551Short-term debt .. 115,625 167,214 302,988 319,127 297,586 280,794 268,858 276,911 272,136of which interest arrears on LDOD .. 751 39,773 14,641 9,232 12,672 14,049 12,472 13,570 15,590 Official creditors .. 416 10,987 6,048 6,059 8,131 9,528 10,322 11,639 8,465 Private creditors .. 335 28,786 8,592 3,173 4,542 4,521 2,150 1,931 7,125Memo: principal arrears on LDOD .. 777 35,907 44,409 25,326 26,501 28,297 28,582 26,093 31,315 Official creditors .. 193 13,711 16,976 17,214 17,860 21,234 21,973 21,372 18,732 Private creditors .. 584 22,196 27,433 8,112 8,641 7,062 6,610 4,721 12,584Memo: export credits .. 0 205,006 269,623 261,396 141,883 132,819 123,887 118,987 127,559

TOTAL DEBT FLOWS Disbursements 9,326 86,434 94,077 209,615 242,322 264,609 246,795 227,933 258,182 258,295Long-term debt 9,060 83,859 88,364 202,366 234,651 250,560 235,603 219,783 228,733 227,029IMF purchases 265 2,576 5,713 7,249 7,671 14,049 11,192 8,150 29,449 31,265Principal repayments 5,242 36,633 67,387 135,193 161,358 156,701 211,482 231,796 233,183 244,174Long-term debt 4,819 35,380 61,398 129,605 154,595 151,095 196,456 212,212 224,014 227,546IMF repurchases 422 1,253 5,990 5,588 6,763 5,605 15,026 19,584 9,168 16,628Net flows on debt 4,084 75,645 31,274 96,470 87,010 56,808 14,352 -12,689 5,253 13,414of which short-term debt .. 25,844 4,584 22,049 6,047 -51,100 -20,961 -8,826 -19,747 -706Interest payments (INT) .. 38,935 50,038 80,044 86,177 93,175 100,214 104,865 103,188 84,459Long-term debt 1,758 26,271 39,163 62,445 67,956 75,810 83,129 86,890 89,676 73,529IMF charges 0 301 1,989 2,033 1,997 2,164 2,316 2,203 2,069 2,498Short-term debt .. 12,363 8,886 15,566 16,224 15,201 14,769 15,772 11,443 8,432Net transfers on debt .. 36,710 -18,764 16,427 833 -36,367 -85,862 -117,554 -97,935 -71,045Total debt service paid (TDS) .. 75,569 117,426 215,237 247,535 249,876 311,696 336,661 336,370 328,633Long-term debt 6,578 61,651 100,560 192,049 222,551 226,905 279,585 299,102 313,690 301,076IMF repurchases and charges 422 1,554 7,979 7,622 8,760 7,770 17,342 21,787 11,237 19,126Short-term debt (interest only) .. 12,363 8,886 15,566 16,224 15,201 14,769 15,772 11,443 8,432


NET RESOURCE FLOWS 6,845 59,998 64,072 222,014 269,075 286,103 235,187 189,077 182,707 150,751Net flow of long-term debt (ex. IMF) 4,241 48,478 26,967 72,761 80,056 99,465 39,147 7,571 4,718 -517Foreign direct investment (net) 1,786 5,862 21,269 110,094 152,564 162,633 170,810 156,382 163,708 134,145Portfolio equity flows -2 0 2,997 26,899 24,641 11,552 11,005 10,843 2,036 3,018Grants (excluding technical coop.) 819 5,658 12,839 12,260 11,815 12,454 14,226 14,281 12,244 14,105Memo: technical coop. grants 691 2,416 6,533 10,343 8,592 9,648 10,186 8,934 9,698 11,053 official net resource flows 2,262 18,740 27,200 10,651 16,679 24,466 21,402 13,817 15,009 4,071 private net resource flows 4,583 41,258 36,872 211,363 252,396 261,637 213,785 175,260 167,698 146,679

NET TRANSFERS 4,424 18,520 11,891 117,373 151,427 158,837 99,906 36,724 24,840 11,586Interest on long-term debt 1,758 26,271 39,163 62,445 67,956 75,810 83,129 86,890 89,676 73,529Profit remittances on FDI 662 15,208 13,018 42,196 49,692 51,457 52,153 65,463 68,191 65,636Memo: official net transfers 1,772 15,029 15,238 -11,350 -3,602 5,062 1,332 -6,326 -6,521 -14,510 private net transfers 2,652 3,491 -3,347 128,723 155,030 153,775 98,574 43,050 31,361 26,096


Gross national income (GNI) 506,208 2,178,971 3,119,703 4,596,656 4,875,745 4,715,136 4,464,596 4,882,178 4,941,182 4,946,029Exports of goods, serv. & inc. (XGS) 4,142 517,027 665,801 1,293,041 1,396,129 1,337,182 1,396,233 1,679,684 1,669,186 1,801,292Worker remit. & comp. of employees 57 11,265 22,287 39,940 46,315 44,147 46,908 49,904 56,028 62,403Imports of goods & services (MGS) 4,585 497,150 659,068 1,354,300 1,464,682 1,422,519 1,400,925 1,641,279 1,659,325 1,745,188International reserves (RES) 9,891 155,618 173,008 519,155 557,537 566,456 592,543 623,704 693,084 845,495

4. DEBT INDICATORS


35MIDDLE-INCOME COUNTRIES


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 38,765 311,038 749,931 1,178,445 1,237,903 1,433,398 1,492,366 1,472,691 1,429,191 1,467,697Public and publicly guaranteed 24,611 250,959 707,793 952,643 947,353 1,006,336 1,020,461 989,665 945,241 977,273Official creditors 14,872 83,694 296,193 458,554 435,225 469,464 479,305 466,104 444,747 451,387 Multilateral 4,216 26,826 110,701 151,210 152,234 175,661 186,563 188,940 194,173 203,146 Concessional 451 4,953 14,350 25,803 26,576 29,057 30,801 30,562 30,602 33,374 Bilateral 10,655 56,868 185,492 307,343 282,990 293,803 292,742 277,164 250,574 248,242 Concessional 8,522 31,816 86,641 132,424 122,684 137,302 145,456 134,883 126,826 134,993Private creditors 9,739 167,265 411,600 494,089 512,128 536,872 541,156 523,561 500,495 525,885 Bonds 1,458 11,877 100,660 274,417 279,612 309,970 329,066 351,542 339,177 366,032 Commercial banks 3,390 110,701 208,635 125,388 155,691 162,722 147,267 115,613 107,869 112,049 Other private 4,891 44,687 102,305 94,284 76,825 64,180 64,823 56,406 53,448 47,804Private nonguaranteed 14,155 60,079 42,138 225,802 290,550 427,062 471,905 483,026 483,949 490,424 Bonds 0 0 227 59,689 74,055 82,260 87,383 88,509 87,534 87,572 Commercial banks and other 14,155 60,079 41,912 166,113 216,496 344,803 384,522 394,517 396,415 402,853Memo: IBRD 2,963 15,607 63,982 75,656 74,667 81,246 84,119 86,270 87,822 89,442 IDA 233 1,255 6,240 13,186 13,852 15,462 16,187 16,116 16,145 18,075

DISBURSEMENTS 9,060 83,859 88,364 202,366 234,651 250,560 235,603 219,783 228,733 227,029Public and publicly guaranteed 5,370 65,138 77,222 128,294 136,182 132,761 121,956 113,417 106,776 97,033Official creditors 2,435 18,147 30,831 38,226 42,459 44,021 41,417 38,109 36,272 31,868 Multilateral 837 5,310 16,516 22,242 24,477 30,498 25,761 24,338 23,329 21,100 Concessional 93 593 1,549 3,048 2,576 2,395 2,554 1,791 2,011 1,911 Bilateral 1,598 12,837 14,315 15,985 17,982 13,523 15,656 13,772 12,943 10,768 Concessional 1,035 6,148 7,033 7,279 5,844 6,710 10,490 9,203 8,615 6,052Private creditors 2,935 46,991 46,392 90,068 93,724 88,740 80,539 75,307 70,503 65,166 Bonds 143 1,539 4,749 51,441 51,912 48,137 50,986 49,507 48,824 41,995 Commercial banks 1,286 28,917 13,401 22,755 26,624 31,000 19,073 18,908 16,369 18,742 Other private 1,505 16,535 28,241 15,871 15,187 9,603 10,479 6,892 5,310 4,429Private nonguaranteed 3,691 18,720 11,142 74,072 98,469 117,799 113,646 106,367 121,957 129,996 Bonds 0 0 171 18,509 23,952 19,063 13,763 11,017 10,534 11,111 Commercial banks and other 3,691 18,720 10,971 55,563 74,517 98,736 99,883 95,349 111,423 118,885Memo: IBRD 486 3,306 10,023 10,945 12,258 12,303 11,359 11,373 10,734 9,224 IDA 26 113 757 1,466 1,417 1,221 1,200 816 791 996

PRINCIPAL REPAYMENTS 4,819 35,380 61,398 129,605 154,595 151,095 196,456 212,212 224,014 227,546Public and publicly guaranteed 2,536 25,113 56,349 94,701 104,365 87,833 93,359 106,053 108,142 104,804Official creditors 992 5,065 16,470 39,835 37,594 32,009 34,242 38,574 33,508 41,901 Multilateral 290 1,183 8,875 13,604 13,500 13,348 13,725 17,527 13,756 21,441 Concessional 29 44 322 670 673 701 700 1,001 1,009 911 Bilateral 702 3,882 7,595 26,231 24,094 18,660 20,517 21,047 19,752 20,460 Concessional 322 1,349 2,656 5,175 4,975 6,655 8,355 9,454 7,648 7,724Private creditors 1,543 20,047 39,878 54,866 66,771 55,825 59,117 67,479 74,634 62,903 Bonds 117 477 3,987 19,419 33,909 22,508 22,470 35,276 36,552 27,346 Commercial banks 655 12,567 19,641 21,438 20,614 20,009 24,478 20,191 25,934 24,740 Other private 771 7,004 16,251 14,009 12,248 13,308 12,170 12,012 12,149 10,818Private nonguaranteed 2,284 10,268 5,049 34,903 50,231 63,262 103,097 106,160 115,872 122,742 Bonds 0 0 0 4,982 9,146 8,876 9,725 12,147 9,024 11,670 Commercial banks and other 2,284 10,268 5,049 29,921 41,084 54,386 93,372 94,013 106,848 111,072Memo: IBRD 157 761 6,158 8,194 7,612 7,971 7,254 7,284 7,565 11,237 IDA 0 5 30 72 92 100 117 139 179 225

NET FLOWS ON DEBT 4,241 48,478 26,967 72,761 80,056 99,465 39,147 7,571 4,718 -517Public and publicly guaranteed 2,834 40,026 20,874 33,593 31,818 44,928 28,597 7,364 -1,367 -7,771Official creditors 1,443 13,082 14,361 -1,609 4,865 12,013 7,176 -464 2,765 -10,033 Multilateral 547 4,126 7,641 8,638 10,976 17,150 12,036 6,811 9,573 -341 Concessional 64 549 1,227 2,378 1,902 1,693 1,854 791 1,002 1,000 Bilateral 895 8,956 6,720 -10,247 -6,111 -5,137 -4,861 -7,275 -6,809 -9,692 Concessional 713 4,799 4,377 2,104 869 55 2,135 -251 968 -1,672Private creditors 1,391 26,944 6,513 35,202 26,953 32,915 21,422 7,828 -4,131 2,262 Bonds 26 1,063 762 32,022 18,003 25,629 28,517 14,231 12,272 14,649 Commercial banks 632 16,351 -6,240 1,317 6,011 10,991 -5,405 -1,283 -9,565 -5,998 Other private 734 9,531 11,990 1,862 2,939 -3,706 -1,690 -5,120 -6,839 -6,388Private nonguaranteed 1,407 8,452 6,093 39,168 48,238 54,537 10,549 207 6,085 7,254 Bonds 0 0 171 13,526 14,806 10,187 4,038 -1,130 1,510 -559 Commercial banks and other 1,407 8,452 5,922 25,642 33,432 44,350 6,511 1,337 4,575 7,813Memo: IBRD 329 2,545 3,865 2,751 4,646 4,332 4,104 4,090 3,169 -2,013 IDA 26 109 727 1,393 1,326 1,121 1,083 677 612 771



INTEREST PAYMENTS (LINT) 1,758 26,271 39,163 62,445 67,956 75,810 83,129 86,890 89,676 73,529Public and publicly guaranteed 1,057 20,445 35,728 50,530 50,950 50,717 52,831 56,982 60,778 49,793Official creditors 489 3,711 11,962 22,001 20,282 19,405 20,070 20,143 21,530 18,581 Multilateral 217 1,758 7,363 9,455 8,906 9,121 11,098 11,854 11,869 10,142 Concessional 9 62 227 386 403 425 432 439 479 458 Bilateral 272 1,954 4,598 12,546 11,376 10,283 8,972 8,289 9,661 8,439 Concessional 164 762 1,385 3,762 3,230 4,076 3,848 3,377 3,191 3,331Private creditors 567 16,734 23,766 28,529 30,669 31,313 32,760 36,839 39,248 31,212 Bonds 86 902 4,118 15,361 18,087 19,153 22,453 26,143 28,755 22,528 Commercial banks 239 12,720 14,370 8,234 7,853 7,923 6,810 7,474 7,516 6,541 Other private 242 3,112 5,278 4,935 4,729 4,237 3,497 3,222 2,978 2,142Private nonguaranteed 702 5,826 3,435 11,915 17,006 25,093 30,298 29,908 28,897 23,737 Bonds 0 0 3 3,860 4,733 5,759 6,468 6,996 7,120 6,226 Commercial banks and other 702 5,826 3,432 8,055 12,273 19,333 23,830 22,912 21,777 17,510Memo: IBRD 165 1,258 4,762 5,392 4,802 4,813 5,426 5,880 5,808 4,834 IDA 2 9 42 90 100 102 107 111 111 124

NET TRANSFERS ON DEBT 2,483 22,207 -12,196 10,317 12,100 23,655 -43,982 -79,319 -84,957 -74,046Public and publicly guaranteed 1,777 19,581 -14,854 -16,937 -19,133 -5,790 -24,233 -49,618 -62,145 -57,564Official creditors 953 9,371 2,399 -23,609 -15,417 -7,392 -12,895 -20,607 -18,765 -28,614 Multilateral 330 2,368 277 -817 2,071 8,029 938 -5,043 -2,295 -10,483 Concessional 55 487 1,001 1,992 1,499 1,269 1,422 352 523 542 Bilateral 623 7,002 2,122 -22,792 -17,488 -15,421 -13,833 -15,564 -16,470 -18,132 Concessional 549 4,037 2,993 -1,657 -2,361 -4,021 -1,713 -3,628 -2,224 -5,003Private creditors 824 10,210 -17,253 6,672 -3,716 1,602 -11,339 -29,010 -43,379 -28,949 Bonds -60 161 -3,355 16,661 -83 6,476 6,064 -11,911 -16,483 -7,879 Commercial banks 393 3,631 -20,609 -6,916 -1,842 3,069 -12,215 -8,757 -17,081 -12,539 Other private 491 6,418 6,712 -3,073 -1,791 -7,943 -5,188 -8,342 -9,816 -8,531Private nonguaranteed 706 2,627 2,658 27,254 31,233 29,445 -19,749 -29,701 -22,813 -16,482 Bonds 0 0 168 9,666 10,073 4,428 -2,430 -8,126 -5,611 -6,785 Commercial banks and other 706 2,627 2,490 17,587 21,159 25,017 -17,319 -21,576 -17,202 -9,697Memo: IBRD 165 1,288 -896 -2,641 -157 -481 -1,321 -1,790 -2,638 -6,847 IDA 25 100 686 1,303 1,226 1,018 975 566 501 647

DEBT SERVICE (LTDS) 6,578 61,651 100,560 192,049 222,551 226,905 279,585 299,102 313,690 301,076Public and publicly guaranteed 3,592 45,558 92,076 145,231 155,315 138,551 146,190 163,034 168,920 154,597Official creditors 1,482 8,777 28,432 61,836 57,876 51,413 54,312 58,717 55,037 60,482 Multilateral 507 2,941 16,239 23,059 22,406 22,469 24,823 29,381 25,625 31,582 Concessional 38 106 548 1,056 1,076 1,126 1,131 1,440 1,488 1,369 Bilateral 975 5,835 12,193 38,777 35,470 28,944 29,489 29,336 29,413 28,900 Concessional 486 2,111 4,041 8,936 8,205 10,732 12,203 12,831 10,839 11,055Private creditors 2,111 36,781 63,645 83,396 97,439 87,137 91,878 104,318 113,883 94,115 Bonds 203 1,378 8,105 34,780 51,996 41,661 44,922 61,419 65,307 49,874 Commercial banks 894 25,287 34,010 29,672 28,466 27,931 31,288 27,665 33,450 31,281 Other private 1,014 10,117 21,529 18,944 16,977 17,545 15,667 15,234 15,127 12,960Private nonguaranteed 2,985 16,094 8,484 46,818 67,236 88,354 133,395 136,068 144,770 146,479 Bonds 0 0 3 8,843 13,879 14,635 16,193 19,143 16,145 17,896 Commercial banks and other 2,985 16,094 8,481 37,975 53,357 73,719 117,202 116,925 128,625 128,583Memo: IBRD 322 2,018 10,919 13,586 12,414 12,784 12,680 13,164 13,372 16,071 IDA 2 14 72 163 192 202 224 251 290 348

UNDISBURSED DEBT 9,739 88,956 117,688 159,491 162,268 192,469 222,267 167,061 139,126 132,672Official creditors 7,004 50,867 77,171 113,570 112,487 141,745 173,866 118,622 104,307 101,000Private creditors 2,735 38,089 40,517 45,922 49,781 50,724 48,401 48,439 34,819 31,671Memorandum items Concessional LDOD 8,973 36,769 100,991 158,228 149,260 166,359 176,257 165,446 157,428 168,366 Variable rate LDOD 14,871 165,997 358,101 613,648 685,605 831,451 846,456 801,764 781,671 789,081 Public sector LDOD 23,831 241,307 700,240 943,873 935,867 986,737 992,406 963,580 922,452 952,142 Private sector LDOD 14,935 69,731 49,691 234,573 302,036 446,661 499,960 509,111 506,739 515,555






Total amount rescheduled 117 2,123 73,074 25,665 40,130 11,205 18,971 34,724 36,894 8,685 Debt stock rescheduled 0 1 61,758 5,271 339 4,446 2,662 23,071 18,181 967 Principal rescheduled 0 124 6,398 12,573 32,360 4,822 8,724 4,859 4,336 3,756 Official 0 17 3,064 4,214 4,895 3,186 6,441 4,000 2,771 3,584 Private 0 107 3,334 8,359 27,465 1,636 2,283 858 1,564 172 Interest rescheduled 0 8 4,122 6,064 6,480 1,039 5,797 4,933 555 1,488 Official 0 7 3,199 1,146 1,178 707 5,253 2,725 413 1,455 Private 0 1 923 4,918 5,301 333 544 2,207 142 33Debt forgiven 7 75 11,035 1,885 250 255 132 262 297 964 Memo: interest forgiven 0 0 2,803 786 15 16 21 13 42 213Debt stock reduction 0 0 24,883 5,464 13,646 3,651 7,009 32,393 43,963 7,652 of which debt buyback 0 0 4,359 3,363 9,850 2,906 5,020 16,879 13,606 3,820

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks 19,602 88,510 50,043 70,245 73,560 184,690 36,893 -45,503 -16,757 53,629 Net flows on debt 4,084 75,645 31,274 96,470 87,010 56,808 14,352 -12,689 5,253 13,414 Net change in interest arrears 4 338 12,504 -4,214 -5,409 3,440 1,376 -1,577 1,098 2,020 Interest capitalized 0 8 4,122 6,064 6,480 1,039 5,797 4,933 555 1,488 Debt forgiveness or reduction -7 -75 -31,558 -3,986 -4,046 -999 -2,120 -15,776 -30,654 -4,796 Cross-currency valuation -49 -2,427 32,226 -40,552 -49,482 25,145 -15,479 -32,055 -26,108 49,381 Residual 15,570 15,019 1,475 16,461 39,007 99,257 32,967 11,662 33,099 -7,879

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.2 10.2 7.7 6.9 7.0 7.2 6.9 7.6 6.3 5.8 Maturity (years) 16.0 13.3 14.5 11.1 12.7 12.1 12.0 12.4 11.9 12.5 Grace period (years) 4.4 4.3 5.3 5.1 7.0 5.6 5.6 7.2 6.2 6.5 Grant element (%) 22.3 2.1 13.8 14.4 14.7 11.9 16.6 10.3 18.5 22.3Official creditors Interest (%) 5.0 6.7 6.4 5.6 5.9 5.9 4.8 5.7 4.7 3.5 Maturity (years) 22.7 19.7 19.4 18.1 16.9 14.5 17.5 16.0 16.3 18.2 Grace period (years) 6.3 5.4 6.0 4.9 4.7 3.5 5.0 4.2 4.1 5.0 Grant element (%) 33.4 23.8 24.8 27.3 24.4 19.0 32.1 24.0 29.8 38.9Private creditors Interest (%) 7.4 12.0 8.7 7.4 7.5 8.1 8.1 8.4 7.2 6.9 Maturity (years) 9.1 9.9 10.9 8.2 10.6 10.5 8.6 10.9 9.5 9.6 Grace period (years) 2.4 3.8 4.8 5.2 8.1 7.1 6.0 8.4 7.4 7.2 Grant element (%) 11.0 -9.5 5.7 9.0 9.8 7.0 6.9 4.7 12.2 14.0Memorandum items Commitments 6,770 67,711 87,602 138,481 154,519 153,627 128,333 120,625 118,392 87,647 Official creditors 3,407 23,426 37,298 40,857 51,662 62,827 49,265 35,233 42,511 29,232 Private creditors 3,363 44,286 50,304 97,623 102,857 90,801 79,069 85,392 75,881 58,415




0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

1995 1996 1997 1998 1999 2000 2001 2002


Private Flows

0.0 50.0 100.0 150.0 200.0

1995

1996

1997

1998

1999

2000

2001

2002


Official Flows

-20.0 -10.0 0.0 10.0 20.0

1995

1996

1997

1998

1999

2000

2001

2002


Country tables

.

40ALBANIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 491 515 626 709 1,062 1,094 1,312Long-term debt (LDOD) .. .. .. 405 412 527 599 937 980 1,200Public and publicly guaranteed .. .. .. 405 412 506 583 922 970 1,187Private nonguaranteed .. .. .. 0 0 21 16 15 11 13Use of IMF credit .. .. .. 54 55 64 81 88 83 81Short-term debt .. .. .. 32 48 35 29 37 31 31of which interest arrears on LDOD .. .. .. 2 4 4 4 3 4 3 Official creditors .. .. .. 2 1 1 1 1 1 1 Private creditors .. .. .. 0 3 3 3 3 3 3Memo: principal arrears on LDOD .. .. .. 33 33 33 33 271 271 208 Official creditors .. .. .. 18 18 18 18 255 255 192 Private creditors .. .. .. 16 16 16 16 16 16 16Memo: export credits .. .. .. 38 26 214 177 22 28 30

TOTAL DEBT FLOWS Disbursements .. .. .. 90 65 97 156 138 113 157Long-term debt .. .. .. 90 52 89 135 120 101 152IMF purchases .. .. .. 0 12 8 21 19 12 5Principal repayments .. .. .. 14 16 12 15 16 24 35Long-term debt .. .. .. 5 8 10 11 9 11 21IMF repurchases .. .. .. 8 8 1 3 7 14 14Net flows on debt .. .. .. 46 63 73 136 130 82 123of which short-term debt .. .. .. -31 14 -13 -6 8 -6 1Interest payments (INT) .. .. .. 8 8 10 8 11 12 23Long-term debt .. .. .. 5 6 7 6 8 10 22IMF charges .. .. .. 1 0 1 1 1 1 1Short-term debt .. .. .. 1 2 2 1 2 1 1Net transfers on debt .. .. .. 38 54 63 127 119 70 99Total debt service paid (TDS) .. .. .. 21 24 21 23 27 37 58Long-term debt .. .. .. 11 14 17 18 17 21 43IMF repurchases and charges .. .. .. 9 8 2 4 8 14 14Short-term debt (interest only) .. .. .. 1 2 2 1 2 1 1


NET RESOURCE FLOWS .. .. .. 288 167 251 445 414 434 371Net flow of long-term debt (ex. IMF) .. .. .. 85 44 79 124 110 90 131Foreign direct investment (net) .. .. .. 90 48 45 41 143 207 135Portfolio equity flows .. .. .. 0 0 0 0 0 0 0Grants (excluding technical coop.) .. .. .. 114 75 127 280 161 137 105Memo: technical coop. grants .. .. .. 54 34 34 69 56 62 83 official net resource flows .. .. .. 194 121 208 408 272 231 235 private net resource flows .. .. .. 95 46 43 37 142 203 136

NET TRANSFERS .. .. .. 281 160 244 439 406 424 348Interest on long-term debt .. .. .. 5 6 7 6 8 10 22Profit remittances on FDI .. .. .. 2 2 0 0 0 0 1Memo: official net transfers .. .. .. 189 116 202 403 265 222 218 private net transfers .. .. .. 92 44 42 36 141 203 130


Gross national income (GNI) .. .. .. 3,085 2,213 2,815 3,520 3,801 4,403 4,963Exports of goods, serv. & inc. (XGS) .. .. .. 956 551 833 987 1,350 1,616 1,707Worker remit. & comp. of employees .. .. .. 551 300 504 407 598 699 734Imports of goods & services (MGS) .. .. .. 1,123 821 950 1,111 1,509 1,789 2,096International reserves (RES) .. .. .. 323 342 418 523 646 771 866Current account balance .. .. .. -107 -272 -65 -155 -156 -217 -408

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. 51.3 93.5 75.2 71.9 78.6 67.7 76.9EDT / GNI (%) .. .. .. 15.9 23.3 22.3 20.1 27.9 24.8 26.4TDS / XGS (%) .. .. .. 2.2 4.4 2.6 2.3 2.0 2.3 3.4INT / XGS (%) .. .. .. 0.8 1.5 1.2 0.9 0.8 0.8 1.4INT / GNI (%) .. .. .. 0.2 0.4 0.4 0.2 0.3 0.3 0.5RES / EDT (%) .. .. .. 65.9 66.5 66.7 73.8 60.9 70.4 66.0RES / MGS (months) .. .. .. 3.5 5.0 5.3 5.6 5.1 5.2 5.0Short-term / EDT (%) .. .. .. 6.4 9.3 5.6 4.1 3.5 2.8 2.4Concessional / EDT (%) .. .. .. 67.3 66.9 70.8 71.8 52.1 55.1 65.9Multilateral / EDT (%) .. .. .. 30.8 31.8 38.6 48.5 40.1 40.2 44.3

41ALBANIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 405 412 527 599 937 980 1,200Public and publicly guaranteed .. .. .. 405 412 506 583 922 970 1,187Official creditors .. .. .. 376 385 480 560 900 948 1,165 Multilateral .. .. .. 151 164 242 344 426 440 581 Concessional .. .. .. 142 155 232 316 368 396 518 Bilateral .. .. .. 225 221 238 216 474 508 584 Concessional .. .. .. 189 190 212 193 185 207 348Private creditors .. .. .. 29 27 26 23 22 22 22 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 29 27 26 23 22 22 22Private nonguaranteed .. .. .. 0 0 21 16 15 11 13 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 21 16 15 11 13Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 137 148 220 296 346 366 476

DISBURSEMENTS .. .. .. 90 52 89 135 120 101 152Public and publicly guaranteed .. .. .. 90 52 89 134 120 101 149Official creditors .. .. .. 84 52 89 134 120 101 149 Multilateral .. .. .. 41 22 70 109 101 56 109 Concessional .. .. .. 36 21 69 89 67 44 92 Bilateral .. .. .. 43 29 19 25 19 44 40 Concessional .. .. .. 43 29 19 25 11 29 40Private creditors .. .. .. 6 1 0 0 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 6 1 0 0 0 0 0Private nonguaranteed .. .. .. 0 0 0 1 0 0 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 1 0 0 3Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 32 19 64 81 64 34 79

PRINCIPAL REPAYMENTS .. .. .. 5 8 10 11 9 11 21Public and publicly guaranteed .. .. .. 5 8 10 8 9 7 19Official creditors .. .. .. 4 6 9 6 8 7 19 Multilateral .. .. .. 1 1 1 2 2 3 8 Concessional .. .. .. 0 0 0 0 1 1 2 Bilateral .. .. .. 3 5 8 5 6 4 11 Concessional .. .. .. 1 1 3 2 3 2 8Private creditors .. .. .. 1 2 2 2 1 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 1 2 2 2 1 0 0Private nonguaranteed .. .. .. 0 0 0 3 0 4 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 3 0 4 2Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. 85 44 79 124 110 90 131Public and publicly guaranteed .. .. .. 85 44 79 126 110 93 130Official creditors .. .. .. 80 46 81 128 111 94 130 Multilateral .. .. .. 41 21 69 108 98 53 101 Concessional .. .. .. 36 21 69 89 67 43 90 Bilateral .. .. .. 40 25 11 20 13 41 29 Concessional .. .. .. 42 28 16 23 8 27 32Private creditors .. .. .. 4 -1 -2 -2 -1 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 4 -1 -2 -2 -1 0 0Private nonguaranteed .. .. .. 0 0 0 -2 0 -4 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 -2 0 -4 1Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 32 19 64 81 64 34 79

42ALBANIA


INTEREST PAYMENTS (LINT) .. .. .. 5 6 7 6 8 10 22Public and publicly guaranteed .. .. .. 5 6 6 6 7 10 17Official creditors .. .. .. 5 5 6 5 7 9 17 Multilateral .. .. .. 1 2 2 3 4 6 6 Concessional .. .. .. 1 1 1 2 3 3 3 Bilateral .. .. .. 3 3 4 2 3 4 11 Concessional .. .. .. 2 2 3 2 3 3 10Private creditors .. .. .. 0 0 0 0 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 0 0 0 0 0 0 0Private nonguaranteed .. .. .. 0 0 1 1 1 1 5 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 1 1 1 1 5Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 1 1 2 2 3 3

NET TRANSFERS ON DEBT .. .. .. 79 39 72 118 102 80 109Public and publicly guaranteed .. .. .. 79 39 73 121 103 84 112Official creditors .. .. .. 75 40 75 122 104 84 113 Multilateral .. .. .. 39 19 67 105 94 47 95 Concessional .. .. .. 35 20 68 87 64 39 86 Bilateral .. .. .. 36 21 8 18 10 37 18 Concessional .. .. .. 40 26 13 21 5 24 22Private creditors .. .. .. 4 -2 -2 -2 -1 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 4 -2 -2 -2 -1 0 0Private nonguaranteed .. .. .. 0 0 -1 -3 -1 -4 -4 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 -1 -3 -1 -4 -4Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 31 18 63 79 62 32 76

DEBT SERVICE (LTDS) .. .. .. 11 14 17 18 17 21 43Public and publicly guaranteed .. .. .. 11 14 17 14 17 17 37Official creditors .. .. .. 9 11 14 12 15 16 36 Multilateral .. .. .. 2 3 3 4 6 9 14 Concessional .. .. .. 1 2 1 2 3 5 5 Bilateral .. .. .. 7 8 11 7 9 7 22 Concessional .. .. .. 3 4 6 4 5 5 17Private creditors .. .. .. 2 2 2 2 1 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 2 2 2 2 1 0 0Private nonguaranteed .. .. .. 0 0 1 4 1 4 7 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 1 4 1 4 7Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 1 1 2 2 3 3

UNDISBURSED DEBT .. .. .. 403 341 429 478 471 429 507Official creditors .. .. .. 402 341 429 478 471 429 507Private creditors .. .. .. 1 0 0 0 0 0 0Memorandum items Concessional LDOD .. .. .. 331 345 444 509 553 603 865 Variable rate LDOD .. .. .. 59 55 73 80 364 364 348 Public sector LDOD .. .. .. 405 412 505 582 921 967 1,184 Private sector LDOD .. .. .. 0 0 22 17 16 13 16


Euro .. .. .. .. .. .. .. .. 20.2 23.0Deutsche mark .. .. .. 13.5 14.3 13.1 10.5 6.1 .. ..French franc .. .. .. 0.1 0.1 0.1 0.0 0.0 .. ..Japanese yen .. .. .. 3.9 4.1 4.0 5.3 3.2 2.6 2.4Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0U.S.dollars .. .. .. 61.0 59.6 60.8 62.4 73.2 73.8 67.6Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Special drawing rights .. .. .. 0.2 0.3 0.7 1.0 0.7 0.7 0.7All other currencies .. .. .. 21.3 21.7 21.3 20.8 16.8 2.7 6.4

43ALBANIA



Total amount rescheduled .. .. .. 0 0 5 0 29 5 75 Debt stock rescheduled .. .. .. 0 0 0 0 0 0 0 Principal rescheduled .. .. .. 0 0 0 0 22 0 0 Official .. .. .. 0 0 0 0 21 0 0 Private .. .. .. 0 0 0 0 0 0 0 Interest rescheduled .. .. .. 0 0 0 0 2 0 0 Official .. .. .. 0 0 0 0 2 0 0 Private .. .. .. 0 0 0 0 0 0 0Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. .. 34 24 112 83 353 33 218 Net flows on debt .. .. .. 46 63 73 136 130 82 123 Net change in interest arrears .. .. .. 0 2 0 0 -1 0 0 Interest capitalized .. .. .. 0 0 0 0 2 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 0 0 Cross-currency valuation .. .. .. -11 -31 22 -31 -35 -31 79 Residual .. .. .. 0 -10 17 -22 256 -18 17

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. 1.4 0.5 2.6 1.9 3.5 3.2 1.1 Maturity (years) .. .. .. 33.5 39.8 32.6 33.5 29.7 31.0 34.3 Grace period (years) .. .. .. 10.6 10.3 9.9 8.4 10.5 9.4 10.1 Grant element (%) .. .. .. 72.3 82.6 61.1 66.8 54.5 56.4 73.6Official creditors Interest (%) .. .. .. 1.4 0.5 2.6 1.9 3.5 3.2 1.1 Maturity (years) .. .. .. 33.5 39.8 32.6 33.5 29.7 31.0 34.3 Grace period (years) .. .. .. 10.6 10.3 9.9 8.4 10.5 9.4 10.1 Grant element (%) .. .. .. 72.3 82.6 61.1 66.8 54.5 56.4 73.6Private creditors Interest (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments .. .. .. 183 34 157 215 173 87 167 Official creditors .. .. .. 183 34 157 215 173 87 167 Private creditors .. .. .. 0 0 0 0 0 0 0

10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 124 127 84 60 39 29 18 12 8 3Principal 29 40 44 49 47 50 52 55 57 52Interest 15 17 19 19 19 19 18 17 16 15Official creditors Disbursements 124 127 84 60 39 29 18 12 8 3Principal 28 34 39 46 47 50 52 55 57 52Interest 14 17 19 19 19 19 18 17 16 15 Bilateral creditors Disbursements 63 47 29 18 9 6 3 2 1 0 Principal 15 19 22 26 22 24 24 25 26 24 Interest 8 8 8 8 8 8 7 7 6 6 Multilateral creditors Disbursements 61 80 55 42 30 23 15 11 7 3 Principal 13 15 17 21 25 26 28 30 30 28 Interest 7 9 10 11 11 11 11 10 10 9Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0Principal 2 6 6 3 0 0 0 0 0 0Interest 1 0 0 0 0 0 0 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2 6 6 3 0 0 0 0 0 0 Interest 1 0 0 0 0 0 0 0 0 0

44ALGERIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 940 19,365 28,149 33,645 30,892 30,678 27,997 25,272 22,581 22,800Long-term debt (LDOD) 940 17,040 26,688 31,286 28,712 28,482 25,896 23,332 20,864 21,362Public and publicly guaranteed 940 17,040 26,688 31,286 28,712 28,482 25,896 23,332 20,864 21,255Private nonguaranteed 0 0 0 0 0 0 0 0 0 107Use of IMF credit 0 0 670 2,031 2,018 2,011 1,906 1,718 1,518 1,330Short-term debt 0 2,325 791 328 162 186 195 222 199 108of which interest arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 2 1 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 2 0 0 0 0 0 0 0 0Memo: export credits 0 0 13,220 19,681 19,181 11,729 11,029 10,694 10,144 11,184

TOTAL DEBT FLOWS Disbursements 313 3,398 7,017 3,629 2,107 1,494 1,429 1,215 1,031 1,536Long-term debt 313 3,398 7,017 2,885 1,643 1,150 1,123 1,215 1,031 1,536IMF purchases 0 0 0 744 465 344 306 0 0 0Principal repayments 35 2,529 6,780 2,102 2,370 3,139 3,381 2,815 2,964 2,948Long-term debt 35 2,529 6,780 1,966 2,019 2,704 3,022 2,722 2,823 2,651IMF repurchases 0 0 0 136 350 435 359 93 141 297Net flows on debt 279 1,261 -811 1,597 -428 -1,622 -1,943 -1,574 -1,956 -1,504of which short-term debt 0 392 -1,049 70 -166 24 9 27 -23 -91Interest payments (INT) 10 1,556 2,025 2,110 2,048 1,992 1,810 1,655 1,419 1,218Long-term debt 10 1,440 1,784 2,021 1,943 1,879 1,722 1,552 1,334 1,168IMF charges 0 0 62 75 93 99 78 92 76 43Short-term debt 0 116 179 13 12 15 10 10 9 7Net transfers on debt 269 -294 -2,836 -513 -2,477 -3,614 -3,753 -3,228 -3,375 -2,722Total debt service paid (TDS) 45 4,084 8,804 4,212 4,418 5,131 5,191 4,470 4,383 4,166Long-term debt 45 3,968 8,564 3,987 3,962 4,583 4,744 4,274 4,157 3,819IMF repurchases and charges 0 0 62 211 443 534 437 185 217 340Short-term debt (interest only) 0 116 179 13 12 15 10 10 9 7


NET RESOURCE FLOWS 381 1,295 283 1,278 -82 -945 -1,343 -1,008 -554 41Net flow of long-term debt (ex. IMF) 279 869 237 920 -377 -1,554 -1,899 -1,508 -1,792 -1,115Foreign direct investment (net) 47 349 0 270 260 501 507 438 1,196 1,065Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 56 77 45 88 35 108 49 62 42 91Memo: technical coop. grants 44 96 106 126 110 106 93 76 77 97 official net resource flows 88 399 707 996 195 -118 -339 -204 -789 -982 private net resource flows 294 896 -424 281 -277 -827 -1,004 -804 236 1,023

NET TRANSFERS 371 -831 -1,652 -923 -2,198 -2,990 -3,241 -2,777 -2,097 -1,328Interest on long-term debt 10 1,440 1,784 2,021 1,943 1,879 1,722 1,552 1,334 1,168Profit remittances on FDI 0 687 152 179 174 166 176 217 210 200Memo: official net transfers 84 239 395 -256 -931 -1,314 -1,529 -1,334 -1,800 -1,947 private net transfers 287 -1,071 -2,047 -667 -1,268 -1,675 -1,712 -1,442 -297 620


Gross national income (GNI) 4,742 41,147 59,955 44,285 45,649 45,357 45,305 50,745 53,165 53,684Exports of goods, serv. & inc. (XGS) .. 14,906 13,887 .. .. .. .. .. .. ..Worker remit. & comp. of employees 0 406 352 233 233 233 233 233 233 233Imports of goods & services (MGS) .. 14,552 12,448 .. .. .. .. .. .. ..International reserves (RES) 352 7,064 2,703 6,296 9,667 8,452 6,146 13,556 19,625 25,151Current account balance .. 249 1,420 .. .. .. .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 129.9 202.7 .. .. .. .. .. .. ..EDT / GNI (%) 19.8 47.1 47.0 76.0 67.7 67.6 61.8 49.8 42.5 42.5TDS / XGS (%) .. 27.4 63.4 .. .. .. .. .. .. ..INT / XGS (%) .. 10.4 14.6 .. .. .. .. .. .. ..INT / GNI (%) 0.2 3.8 3.4 4.8 4.5 4.4 4.0 3.3 2.7 2.3RES / EDT (%) 37.5 36.5 9.6 18.7 31.3 27.6 22.0 53.6 86.9 110.3RES / MGS (months) .. 5.8 2.6 .. .. .. .. .. .. ..Short-term / EDT (%) 0.0 12.0 2.8 1.0 0.5 0.6 0.7 0.9 0.9 0.5Concessional / EDT (%) 50.0 6.6 3.1 9.8 10.2 10.8 12.2 12.3 11.9 12.1Multilateral / EDT (%) 1.7 1.5 7.2 12.1 12.5 14.3 15.1 16.3 17.7 16.8

45ALGERIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 940 17,040 26,688 31,286 28,712 28,482 25,896 23,332 20,864 21,362Public and publicly guaranteed 940 17,040 26,688 31,286 28,712 28,482 25,896 23,332 20,864 21,255Official creditors 485 3,495 5,866 18,181 18,265 19,445 18,482 17,456 16,159 16,255 Multilateral 16 284 2,031 4,085 3,852 4,392 4,236 4,123 3,994 3,840 Concessional 0 14 76 334 362 385 461 437 409 372 Bilateral 469 3,211 3,835 14,097 14,413 15,054 14,245 13,333 12,165 12,416 Concessional 469 1,255 784 2,953 2,783 2,918 2,954 2,664 2,287 2,387Private creditors 454 13,545 20,822 13,104 10,447 9,036 7,414 5,875 4,706 5,000 Bonds 5 410 1,420 0 0 0 0 0 0 0 Commercial banks 20 5,503 6,051 4,622 4,260 3,947 3,611 2,960 2,395 2,369 Other private 430 7,632 13,351 8,482 6,188 5,090 3,803 2,915 2,310 2,631Private nonguaranteed 0 0 0 0 0 0 0 0 0 107 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 107Memo: IBRD 16 253 1,208 1,939 1,795 1,676 1,540 1,425 1,329 1,203 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 313 3,398 7,017 2,885 1,643 1,150 1,123 1,215 1,031 1,536Public and publicly guaranteed 313 3,398 7,017 2,885 1,643 1,150 1,123 1,215 1,031 1,459Official creditors 45 566 1,835 1,577 1,205 751 730 790 448 423 Multilateral 0 54 612 823 790 594 428 349 335 324 Concessional 0 1 9 64 54 64 120 34 38 11 Bilateral 45 512 1,223 755 415 157 301 441 114 99 Concessional 45 78 282 323 158 81 221 147 68 74Private creditors 268 2,832 5,182 1,308 438 399 394 425 583 1,035 Bonds 5 30 0 0 0 0 0 0 0 0 Commercial banks 17 891 406 141 33 22 8 6 13 253 Other private 246 1,911 4,776 1,167 405 377 385 419 570 782Private nonguaranteed 0 0 0 0 0 0 0 0 0 77 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 77Memo: IBRD 0 39 300 286 250 56 62 58 83 70 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 35 2,529 6,780 1,966 2,019 2,704 3,022 2,722 2,823 2,651Public and publicly guaranteed 35 2,529 6,780 1,966 2,019 2,704 3,022 2,722 2,823 2,591Official creditors 13 244 1,174 669 1,044 977 1,118 1,055 1,280 1,496 Multilateral 3 42 312 409 698 412 420 349 524 642 Concessional 0 1 6 13 12 31 38 51 63 57 Bilateral 10 203 862 260 346 565 697 706 756 854 Concessional 10 72 97 96 116 145 196 222 225 233Private creditors 22 2,284 5,606 1,297 975 1,727 1,905 1,667 1,543 1,094 Bonds 0 15 16 0 0 0 0 0 0 0 Commercial banks 2 918 1,330 178 132 501 491 485 418 394 Other private 19 1,352 4,260 1,119 843 1,227 1,414 1,182 1,125 701Private nonguaranteed 0 0 0 0 0 0 0 0 0 60 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 60Memo: IBRD 3 13 130 252 234 208 199 172 177 200 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT 279 869 237 920 -377 -1,554 -1,899 -1,508 -1,792 -1,115Public and publicly guaranteed 279 869 237 920 -377 -1,554 -1,899 -1,508 -1,792 -1,132Official creditors 32 322 662 908 160 -226 -388 -266 -832 -1,073 Multilateral -3 13 300 414 91 182 8 -1 -189 -318 Concessional 0 0 3 51 43 33 82 -17 -25 -46 Bilateral 35 309 362 494 69 -408 -396 -265 -642 -755 Concessional 35 6 185 226 41 -64 25 -75 -157 -159Private creditors 247 548 -424 11 -537 -1,328 -1,511 -1,242 -960 -59 Bonds 5 15 -15 0 0 0 0 0 0 0 Commercial banks 15 -27 -924 -37 -99 -479 -482 -479 -405 -141 Other private 227 559 515 48 -438 -849 -1,029 -763 -556 81Private nonguaranteed 0 0 0 0 0 0 0 0 0 17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 17Memo: IBRD -3 26 170 34 17 -152 -137 -114 -94 -130 IDA 0 0 0 0 0 0 0 0 0 0

46ALGERIA


INTEREST PAYMENTS (LINT) 10 1,440 1,784 2,021 1,943 1,879 1,722 1,552 1,334 1,168Public and publicly guaranteed 10 1,440 1,784 2,021 1,943 1,879 1,722 1,552 1,334 1,164Official creditors 4 159 312 1,252 1,126 1,196 1,190 1,131 1,011 965 Multilateral 1 29 117 281 252 279 318 297 248 304 Concessional 0 1 6 15 16 18 19 16 22 16 Bilateral 3 130 195 971 874 917 871 834 763 662 Concessional 3 35 17 129 101 106 109 108 95 86Private creditors 6 1,280 1,472 769 817 682 532 421 323 199 Bonds 0 45 105 0 0 0 0 0 0 0 Commercial banks 0 672 526 206 259 229 189 163 130 76 Other private 6 563 841 564 558 453 343 258 192 123Private nonguaranteed 0 0 0 0 0 0 0 0 0 5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 5Memo: IBRD 1 25 73 139 120 124 126 128 119 104 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT 269 -570 -1,546 -1,102 -2,320 -3,433 -3,621 -3,060 -3,126 -2,283Public and publicly guaranteed 269 -570 -1,546 -1,102 -2,320 -3,433 -3,621 -3,060 -3,126 -2,296Official creditors 28 162 349 -344 -966 -1,422 -1,578 -1,396 -1,842 -2,038 Multilateral -4 -17 183 133 -161 -97 -310 -298 -437 -622 Concessional 0 -1 -2 36 27 15 63 -32 -47 -62 Bilateral 32 179 166 -477 -805 -1,325 -1,267 -1,099 -1,405 -1,416 Concessional 32 -29 168 97 -60 -170 -84 -183 -252 -246Private creditors 240 -732 -1,896 -758 -1,354 -2,011 -2,043 -1,663 -1,283 -258 Bonds 5 -30 -120 0 0 0 0 0 0 0 Commercial banks 14 -699 -1,450 -243 -358 -708 -671 -642 -535 -217 Other private 221 -4 -326 -515 -996 -1,303 -1,372 -1,021 -748 -41Private nonguaranteed 0 0 0 0 0 0 0 0 0 12 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 12Memo: IBRD -4 0 97 -105 -103 -276 -263 -242 -213 -233 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) 45 3,968 8,564 3,987 3,962 4,583 4,744 4,274 4,157 3,819Public and publicly guaranteed 45 3,968 8,564 3,987 3,962 4,583 4,744 4,274 4,157 3,754Official creditors 17 404 1,486 1,921 2,170 2,173 2,307 2,186 2,291 2,461 Multilateral 4 71 429 690 951 691 739 646 771 946 Concessional 0 2 12 28 28 48 57 67 85 73 Bilateral 13 333 1,057 1,231 1,220 1,482 1,569 1,540 1,519 1,515 Concessional 13 107 114 226 217 251 305 330 320 319Private creditors 28 3,564 7,078 2,066 1,792 2,410 2,437 2,088 1,866 1,293 Bonds 0 60 120 0 0 0 0 0 0 0 Commercial banks 3 1,590 1,856 383 391 730 680 648 548 470 Other private 25 1,915 5,101 1,683 1,401 1,680 1,757 1,440 1,318 823Private nonguaranteed 0 0 0 0 0 0 0 0 0 65 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 65Memo: IBRD 4 39 203 391 353 332 325 300 296 304 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT 737 11,717 12,954 7,138 6,044 5,644 5,293 4,128 3,859 2,185Official creditors 579 4,169 5,254 4,913 4,362 3,954 3,573 2,758 2,475 1,335Private creditors 159 7,548 7,700 2,225 1,682 1,690 1,720 1,369 1,384 850Memorandum items Concessional LDOD 469 1,269 860 3,287 3,145 3,303 3,415 3,101 2,696 2,759 Variable rate LDOD 26 4,265 10,711 16,496 15,634 15,139 13,477 11,886 10,571 10,381 Public sector LDOD 940 17,040 26,608 31,196 28,596 28,322 25,758 23,210 20,752 21,115 Private sector LDOD 0 0 80 90 116 160 137 122 112 247



47ALGERIA



Total amount rescheduled .. .. 0 3,674 2,295 558 2 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 3,244 2,114 543 0 0 0 0 Official .. .. 0 357 219 81 0 0 0 0 Private .. .. 0 2,887 1,895 461 0 0 0 0 Interest rescheduled .. .. 0 289 89 0 0 0 0 0 Official .. .. 0 45 20 0 0 0 0 0 Private .. .. 0 243 69 0 0 0 0 0Debt forgiven .. .. 0 4 10 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 912 603 -2,753 -214 -2,681 -2,725 -2,690 219 Net flows on debt 279 1,261 -811 1,597 -428 -1,622 -1,943 -1,574 -1,956 -1,504 Net change in interest arrears .. .. 0 -3 0 0 0 0 0 0 Interest capitalized .. .. 0 289 89 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -4 -10 0 0 0 0 0 Cross-currency valuation .. .. 1,669 -1,414 -2,227 1,186 -1,028 -1,144 -916 1,687 Residual .. .. 55 139 -177 222 290 -8 182 36

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 5.7 8.1 8.4 5.5 5.5 5.4 4.9 6.2 3.0 2.4 Maturity (years) 12.7 12.5 9.0 11.1 12.2 11.2 10.8 10.7 11.0 10.2 Grace period (years) 3.6 3.5 2.5 2.9 3.2 3.1 2.9 2.9 2.9 2.9 Grant element (%) 23.0 8.3 6.9 19.5 19.8 19.4 22.5 15.9 31.4 30.2Official creditors Interest (%) 2.8 7.7 7.0 5.8 5.5 6.1 5.5 6.3 4.0 2.9 Maturity (years) 23.9 17.6 16.8 11.8 12.7 14.8 13.0 14.5 15.7 17.0 Grace period (years) 9.2 5.1 4.0 3.6 3.6 3.6 4.4 3.9 4.1 6.7 Grant element (%) 54.3 13.5 19.5 19.3 20.8 19.4 24.0 19.6 32.7 46.5Private creditors Interest (%) 6.4 8.4 8.9 4.8 5.8 4.7 4.6 6.2 2.8 2.3 Maturity (years) 9.8 9.7 6.5 9.7 10.3 7.8 9.6 7.1 10.1 7.8 Grace period (years) 2.1 2.6 2.0 1.3 1.7 2.7 2.0 1.9 2.7 1.6 Grant element (%) 14.8 5.5 2.8 19.9 16.1 19.4 21.7 12.5 31.1 24.5Memorandum items Commitments 378 3,538 8,054 2,303 1,565 963 1,270 1,357 1,500 708 Official creditors 78 1,258 1,983 1,580 1,236 469 466 658 232 184 Private creditors 299 2,279 6,071 723 328 494 804 699 1,268 524


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 927 583 246 128 68 29 16 10 4 3Principal 2,910 2,659 2,633 2,477 2,464 2,589 2,608 1,701 1,552 331Interest 887 788 692 591 490 384 273 174 101 51Official creditors Disbursements 455 344 154 102 61 29 16 10 4 3Principal 1,749 1,637 1,725 1,766 1,931 2,125 2,189 1,457 1,437 231Interest 732 664 597 521 439 348 251 161 93 46 Bilateral creditors Disbursements 48 28 15 8 3 0 0 0 0 0 Principal 1,077 1,060 1,182 1,308 1,509 1,706 1,826 1,122 1,188 39 Interest 510 466 421 370 312 245 170 99 48 12 Multilateral creditors Disbursements 407 316 139 94 58 28 15 10 4 3 Principal 672 578 543 458 422 419 363 336 250 193 Interest 222 199 176 151 127 103 81 62 46 34Private creditors Disbursements 472 239 92 27 7 0 0 0 0 0Principal 1,161 1,022 907 712 532 464 419 243 115 100Interest 155 124 95 70 51 35 22 13 8 5 Commercial banks Disbursements 27 14 7 2 1 0 0 0 0 0 Principal 412 398 395 339 235 227 243 112 4 8 Interest 51 42 33 25 18 12 7 3 1 1 Other private Disbursements 445 225 85 24 6 0 0 0 0 0 Principal 749 624 512 373 297 236 176 131 111 92 Interest 104 82 62 46 33 23 15 10 6 4

48ANGOLA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 8,594 10,548 9,950 10,786 10,300 9,410 9,296 10,134Long-term debt (LDOD) .. .. 7,605 9,379 8,683 9,101 8,715 8,087 7,830 8,883Public and publicly guaranteed .. .. 7,605 9,379 8,683 9,101 8,715 8,087 7,830 8,883Private nonguaranteed .. .. 0 0 0 0 0 0 0 0Use of IMF credit .. .. 0 0 0 0 0 0 0 0Short-term debt .. .. 989 1,169 1,267 1,685 1,586 1,323 1,466 1,252of which interest arrears on LDOD .. .. 204 493 547 785 889 874 1,021 1,005 Official creditors .. .. 52 170 188 259 284 252 266 287 Private creditors .. .. 152 323 359 526 605 622 755 718Memo: principal arrears on LDOD .. .. 497 1,627 1,722 2,394 2,690 2,855 3,401 3,677 Official creditors .. .. 86 381 414 569 682 735 866 941 Private creditors .. .. 412 1,246 1,308 1,825 2,008 2,119 2,535 2,736Memo: export credits .. .. 1,639 2,100 2,208 1,514 1,687 1,712 1,571 2,028

TOTAL DEBT FLOWS Disbursements .. .. 862 778 1,190 790 943 1,045 1,063 822Long-term debt .. .. 862 778 1,190 790 943 1,045 1,063 822IMF purchases .. .. 0 0 0 0 0 0 0 0Principal repayments .. .. 183 653 816 1,285 1,270 1,530 1,338 743Long-term debt .. .. 183 653 816 1,285 1,270 1,530 1,338 743IMF repurchases .. .. 0 0 0 0 0 0 0 0Net flows on debt .. .. 977 76 418 -314 -530 -733 -279 -119of which short-term debt .. .. 298 -50 44 180 -203 -248 -4 -198Interest payments (INT) .. .. 143 342 195 247 158 175 133 120Long-term debt .. .. 100 293 148 202 114 149 110 101IMF charges .. .. 0 0 0 0 0 0 0 0Short-term debt .. .. 43 49 46 45 45 26 22 19Net transfers on debt .. .. 834 -266 224 -562 -689 -909 -411 -239Total debt service paid (TDS) .. .. 326 994 1,011 1,532 1,428 1,705 1,471 863Long-term debt .. .. 283 945 965 1,487 1,384 1,680 1,448 844IMF repurchases and charges .. .. 0 0 0 0 0 0 0 0Short-term debt (interest only) .. .. 43 49 46 45 45 26 22 19


NET RESOURCE FLOWS .. .. 536 582 1,028 836 2,406 599 2,084 1,721Net flow of long-term debt (ex. IMF) .. .. 679 125 374 -494 -327 -485 -275 79Foreign direct investment (net) .. .. -335 181 412 1,114 2,472 879 2,146 1,312Portfolio equity flows .. .. 0 0 0 0 0 0 0 0Grants (excluding technical coop.) .. .. 192 276 242 216 261 206 213 330Memo: technical coop. grants .. .. 36 114 57 52 58 52 63 68 official net resource flows .. .. 302 297 229 -137 -105 -28 -108 301 private net resource flows .. .. 235 285 798 973 2,510 628 2,192 1,420

NET TRANSFERS .. .. 122 -247 320 255 1,639 -479 1,047 619Interest on long-term debt .. .. 100 293 148 202 114 149 110 101Profit remittances on FDI .. .. 314 536 559 378 653 929 927 1,000Memo: official net transfers .. .. 283 270 208 -152 -113 -64 -117 290 private net transfers .. .. -161 -518 112 408 1,752 -414 1,164 329


Gross national income (GNI) .. .. 8,214 5,882 6,413 5,230 4,655 7,178 7,910 9,715Exports of goods, serv. & inc. (XGS) .. .. 4,003 5,406 5,257 3,699 5,334 8,222 6,760 8,592Worker remit. & comp. of employees .. .. 0 5 0 0 0 0 0 0Imports of goods & services (MGS) .. .. 4,161 5,980 6,236 5,718 7,100 7,454 8,281 9,346International reserves (RES) .. .. .. 552 396 203 496 1,198 732 376Current account balance .. .. -236 3,266 -884 -1,867 -1,710 796 -1,431 ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. 214.7 195.1 189.3 291.6 193.1 114.4 137.5 118.0EDT / GNI (%) .. .. 104.6 179.3 155.2 206.2 221.3 131.1 117.5 104.3TDS / XGS (%) .. .. 8.1 18.4 19.2 41.4 26.8 20.7 21.8 10.0INT / XGS (%) .. .. 3.6 6.3 3.7 6.7 3.0 2.1 2.0 1.4INT / GNI (%) .. .. 1.7 5.8 3.0 4.7 3.4 2.4 1.7 1.2RES / EDT (%) .. .. .. 5.2 4.0 1.9 4.8 12.7 7.9 3.7RES / MGS (months) .. .. .. 1.1 0.8 0.4 0.8 1.9 1.1 0.5Short-term / EDT (%) .. .. 11.5 11.1 12.7 15.6 15.4 14.1 15.8 12.4Concessional / EDT (%) .. .. 13.9 20.4 22.2 22.1 19.5 19.0 17.0 16.4Multilateral / EDT (%) .. .. 0.7 2.1 2.3 2.6 3.0 3.1 3.0 3.1

49ANGOLA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 7,605 9,379 8,683 9,101 8,715 8,087 7,830 8,883Public and publicly guaranteed .. .. 7,605 9,379 8,683 9,101 8,715 8,087 7,830 8,883Official creditors .. .. 1,839 2,868 2,870 3,402 2,980 2,703 2,440 2,890 Multilateral .. .. 57 218 234 279 312 294 276 313 Concessional .. .. 20 151 168 212 246 253 253 292 Bilateral .. .. 1,782 2,650 2,636 3,123 2,668 2,409 2,164 2,577 Concessional .. .. 1,177 2,002 2,044 2,173 1,758 1,538 1,328 1,366Private creditors .. .. 5,767 6,511 5,813 5,700 5,734 5,383 5,390 5,992 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 196 4,064 3,574 2,908 3,054 2,910 3,003 3,094 Other private .. .. 5,571 2,447 2,239 2,791 2,681 2,474 2,387 2,898Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 115 136 179 214 226 228 265

DISBURSEMENTS .. .. 862 778 1,190 790 943 1,045 1,063 822Public and publicly guaranteed .. .. 862 778 1,190 790 943 1,045 1,063 822Official creditors .. .. 169 55 36 81 68 34 16 21 Multilateral .. .. 5 38 28 36 39 24 13 21 Concessional .. .. 4 38 28 36 39 24 12 21 Bilateral .. .. 164 17 8 45 29 10 3 1 Concessional .. .. 54 5 8 45 29 10 3 1Private creditors .. .. 693 723 1,154 709 875 1,011 1,047 801 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 17 685 1,126 663 869 1,011 1,046 800 Other private .. .. 676 38 28 46 6 0 2 1Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 38 28 36 39 24 11 21

PRINCIPAL REPAYMENTS .. .. 183 653 816 1,285 1,270 1,530 1,338 743Public and publicly guaranteed .. .. 183 653 816 1,285 1,270 1,530 1,338 743Official creditors .. .. 59 33 48 434 434 268 337 51 Multilateral .. .. 4 0 1 0 1 27 6 6 Concessional .. .. 0 0 0 0 0 4 1 3 Bilateral .. .. 56 33 48 434 432 241 331 45 Concessional .. .. 1 8 8 363 406 213 302 2Private creditors .. .. 123 619 768 850 836 1,262 1,001 692 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 24 410 621 720 778 1,151 944 666 Other private .. .. 100 209 147 130 59 110 57 27Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 0 0 0 0 0 1 3

NET FLOWS ON DEBT .. .. 679 125 374 -494 -327 -485 -275 79Public and publicly guaranteed .. .. 679 125 374 -494 -327 -485 -275 79Official creditors .. .. 109 21 -13 -353 -366 -234 -322 -29 Multilateral .. .. 1 38 27 36 38 -4 7 15 Concessional .. .. 4 38 28 36 39 20 11 18 Bilateral .. .. 109 -16 -40 -390 -404 -231 -328 -44 Concessional .. .. 53 -2 0 -319 -377 -203 -299 -1Private creditors .. .. 570 104 387 -141 39 -251 47 108 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. -7 275 505 -57 91 -141 102 134 Other private .. .. 577 -171 -119 -84 -52 -110 -55 -26Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 38 28 36 39 24 11 18

50ANGOLA


INTEREST PAYMENTS (LINT) .. .. 100 293 148 202 114 149 110 101Public and publicly guaranteed .. .. 100 293 148 202 114 149 110 101Official creditors .. .. 19 27 21 15 9 36 9 10 Multilateral .. .. 2 1 1 1 2 28 4 3 Concessional .. .. 0 1 1 1 1 4 2 2 Bilateral .. .. 16 26 20 14 7 8 5 7 Concessional .. .. 1 2 5 3 1 2 1 1Private creditors .. .. 81 266 127 187 105 113 102 91 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 8 227 92 153 92 94 96 83 Other private .. .. 74 39 36 35 13 20 6 8Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 1 1 1 1 2 1 2

NET TRANSFERS ON DEBT .. .. 579 -167 226 -697 -441 -635 -385 -22Public and publicly guaranteed .. .. 579 -167 226 -697 -441 -635 -385 -22Official creditors .. .. 91 -5 -34 -368 -375 -270 -331 -39 Multilateral .. .. -2 37 26 35 36 -32 3 12 Concessional .. .. 4 37 27 34 37 16 9 16 Bilateral .. .. 92 -42 -60 -403 -410 -239 -334 -51 Concessional .. .. 52 -4 -6 -321 -377 -205 -300 -2Private creditors .. .. 488 -162 259 -328 -66 -364 -55 17 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. -15 48 414 -210 -1 -234 7 51 Other private .. .. 503 -210 -154 -118 -65 -130 -61 -34Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 37 27 34 37 22 9 16

DEBT SERVICE (LTDS) .. .. 283 945 965 1,487 1,384 1,680 1,448 844Public and publicly guaranteed .. .. 283 945 965 1,487 1,384 1,680 1,448 844Official creditors .. .. 78 60 69 449 442 304 346 61 Multilateral .. .. 6 1 1 1 3 56 10 9 Concessional .. .. 0 1 1 1 1 8 3 5 Bilateral .. .. 72 59 68 448 439 249 336 52 Concessional .. .. 2 10 14 366 406 215 303 2Private creditors .. .. 205 885 895 1,038 941 1,375 1,102 784 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 31 638 713 873 869 1,245 1,039 749 Other private .. .. 173 248 182 165 72 130 63 35Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 1 1 1 1 2 2 4

UNDISBURSED DEBT .. .. 1,351 713 779 562 365 315 129 113Official creditors .. .. 488 344 320 246 164 155 115 100Private creditors .. .. 863 369 459 316 200 160 14 13Memorandum items Concessional LDOD .. .. 1,197 2,152 2,212 2,385 2,004 1,791 1,581 1,658 Variable rate LDOD .. .. 450 1,816 1,957 1,655 1,395 1,230 1,213 1,885 Public sector LDOD .. .. 7,600 9,354 8,655 9,075 8,688 8,060 7,804 8,856 Private sector LDOD .. .. 5 25 28 26 26 26 26 26


Euro .. .. .. .. .. .. .. .. 7.2 7.5Deutsche mark .. .. 0.3 0.2 0.2 0.3 0.3 0.3 .. ..French franc .. .. 3.6 4.2 4.0 4.1 3.6 3.6 .. ..Japanese yen .. .. 0.3 0.3 0.3 0.4 0.5 0.5 0.4 0.4Pound sterling .. .. 1.4 1.0 1.0 1.0 1.0 1.0 1.0 0.9Swiss franc .. .. 0.7 0.1 0.1 0.1 0.1 0.1 0.1 0.0U.S.dollars .. .. 80.7 86.9 87.4 85.8 86.2 86.3 86.8 86.9Multiple currency .. .. 0.5 0.9 0.9 0.9 0.9 0.6 0.4 0.4Special drawing rights .. .. 0.0 0.7 0.9 1.1 1.4 1.7 1.7 1.6All other currencies .. .. 12.5 5.7 5.2 6.3 5.9 5.9 2.4 2.2

51ANGOLA



Total amount rescheduled .. .. 252 1,580 95 528 0 0 0 0 Debt stock rescheduled .. .. 53 0 0 0 0 0 0 0 Principal rescheduled .. .. 160 1,216 28 3 3 3 5 18 Official .. .. 16 267 0 0 0 0 0 0 Private .. .. 143 949 28 3 3 3 5 18 Interest rescheduled .. .. 43 235 0 34 0 0 0 2 Official .. .. 8 38 0 0 0 0 0 0 Private .. .. 35 196 0 34 0 0 0 2Debt forgiven .. .. 0 3,746 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 3 0 0 0 0 0 0Debt stock reduction .. .. 0 0 0 0 0 0 0 9 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,303 -954 -598 836 -486 -891 -113 838 Net flows on debt .. .. 977 76 418 -314 -530 -733 -279 -119 Net change in interest arrears .. .. 130 -739 54 238 104 -15 147 -16 Interest capitalized .. .. 43 235 0 34 0 0 0 2 Debt forgiveness or reduction .. .. 0 -3,746 0 0 0 0 0 -9 Cross-currency valuation .. .. 150 -75 -133 59 -115 -78 -51 154 Residual .. .. 3 3,296 -936 820 55 -65 70 827

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. 6.9 7.3 7.6 7.2 7.8 4.9 5.0 4.9 Maturity (years) .. .. 10.2 4.5 5.9 8.3 2.8 4.3 4.0 5.0 Grace period (years) .. .. 2.6 1.3 0.9 0.9 0.6 1.6 0.5 2.4 Grant element (%) .. .. 14.3 6.4 6.6 11.6 2.9 11.4 9.2 14.2Official creditors Interest (%) .. .. 5.7 2.8 3.0 1.4 0.0 0.8 0.0 0.8 Maturity (years) .. .. 14.1 29.6 22.3 29.5 0.0 39.8 0.0 49.6 Grace period (years) .. .. 3.7 7.1 4.1 1.9 0.0 10.3 0.0 10.1 Grant element (%) .. .. 22.0 57.5 46.9 59.0 0.0 80.6 0.0 83.0Private creditors Interest (%) .. .. 7.7 7.5 7.7 7.8 7.8 5.0 5.0 5.0 Maturity (years) .. .. 7.7 3.3 5.5 5.8 2.8 3.1 4.0 4.4 Grace period (years) .. .. 1.8 1.0 0.8 0.8 0.6 1.3 0.5 2.3 Grant element (%) .. .. 9.1 4.0 5.5 6.1 2.9 9.1 9.2 13.2Memorandum items Commitments .. .. 523 781 1,556 521 787 1,033 1,045 811 Official creditors .. .. 210 36 43 54 0 33 0 11 Private creditors .. .. 313 745 1,513 466 787 1,000 1,045 800


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 21 12 8 5 3 2 2 1 0 0Principal 1,128 1,023 771 539 311 252 240 237 100 91Interest 208 155 111 79 61 50 41 33 25 21Official creditors Disbursements 18 11 7 5 3 2 2 1 0 0Principal 408 137 135 131 122 121 114 113 85 82Interest 76 62 56 50 44 38 33 28 23 19 Bilateral creditors Disbursements 7 5 3 2 1 1 1 1 0 0 Principal 397 127 125 121 115 114 107 105 78 73 Interest 73 59 53 47 42 36 31 26 21 17 Multilateral creditors Disbursements 11 6 4 3 2 1 1 0 0 0 Principal 11 10 10 10 7 7 7 7 8 9 Interest 3 3 3 3 2 2 2 2 2 2Private creditors Disbursements 3 1 0 0 0 0 0 0 0 0Principal 720 886 636 408 189 131 126 125 15 9Interest 132 93 55 29 17 12 8 5 2 1 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 434 676 530 303 88 34 34 33 15 9 Interest 108 79 45 21 11 8 6 4 2 1 Other private Disbursements 3 1 0 0 0 0 0 0 0 0 Principal 286 210 106 105 101 97 92 92 0 0 Interest 24 14 10 7 5 4 2 1 0 0

52ARGENTINA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 5,810 27,157 62,233 111,378 128,411 141,549 145,294 145,879 136,729 132,314Long-term debt (LDOD) 5,171 16,774 48,676 81,588 90,555 105,151 111,401 112,508 102,753 103,140Public and publicly guaranteed 1,880 10,181 46,876 62,519 67,144 77,285 84,081 86,599 71,125 74,661Private nonguaranteed 3,291 6,593 1,800 19,068 23,411 27,865 27,319 25,909 31,628 28,479Use of IMF credit 0 0 3,083 6,293 5,868 5,442 4,478 5,056 13,976 14,340Short-term debt 639 10,383 10,473 23,497 31,988 30,956 29,415 28,315 20,000 14,835of which interest arrears on LDOD 0 0 7,590 0 0 0 0 0 0 5,218 Official creditors 0 0 132 0 0 0 0 0 0 171 Private creditors 0 0 7,458 0 0 0 0 0 0 5,047Memo: principal arrears on LDOD 0 0 4,372 0 0 0 0 0 0 8,792 Official creditors 0 0 224 0 0 0 0 0 0 492 Private creditors 0 0 4,147 0 0 0 0 0 0 8,300Memo: export credits 0 0 8,964 12,191 10,951 5,733 4,744 4,290 3,248 3,640

TOTAL DEBT FLOWS Disbursements 907 4,708 1,587 18,690 19,539 25,289 23,322 21,126 16,608 1,828Long-term debt 907 4,708 1,150 17,894 19,097 25,289 23,322 19,032 6,208 1,828IMF purchases 0 0 437 796 442 0 0 2,094 10,399 0Principal repayments 772 1,853 3,443 6,781 10,889 12,549 15,455 15,733 12,987 3,260Long-term debt 772 1,853 2,745 6,350 10,410 11,892 14,631 14,453 11,806 2,517IMF repurchases 0 0 697 431 479 657 824 1,280 1,181 743Net flows on debt 135 6,327 -1,856 14,052 17,141 11,708 6,326 4,293 -4,695 -1,816of which short-term debt 0 3,472 0 2,143 8,491 -1,032 -1,541 -1,100 -8,315 -383Interest payments (INT) 338 2,329 2,716 6,183 7,332 8,937 10,226 11,612 11,025 2,565Long-term debt 338 1,337 2,208 4,679 5,724 7,099 8,467 9,686 9,573 1,696IMF charges 0 0 277 270 276 264 197 195 416 677Short-term debt 0 992 231 1,233 1,332 1,574 1,562 1,732 1,036 192Net transfers on debt -203 3,998 -4,571 7,869 9,808 2,771 -3,900 -7,319 -15,720 -4,382Total debt service paid (TDS) 1,110 4,182 6,158 12,963 18,221 21,486 25,681 27,345 24,012 5,826Long-term debt 1,110 3,190 4,953 11,029 16,135 18,992 23,099 24,139 21,379 4,213IMF repurchases and charges 0 0 975 701 755 921 1,021 1,475 1,597 1,420Short-term debt (interest only) 0 992 231 1,233 1,332 1,574 1,562 1,732 1,036 192


NET RESOURCE FLOWS 222 3,535 261 19,509 19,275 20,516 21,930 11,801 -3,487 50Net flow of long-term debt (ex. IMF) 135 2,855 -1,595 11,544 8,687 13,397 8,691 4,579 -5,598 -690Foreign direct investment (net) 90 678 1,836 6,949 9,160 7,291 23,988 10,418 2,166 785Portfolio equity flows 0 0 0 991 1,391 -210 -10,773 -3,227 -81 -99Grants (excluding technical coop.) -3 2 21 27 37 38 24 31 26 53Memo: technical coop. grants 12 35 71 85 77 72 91 77 66 57 official net resource flows 49 60 477 52 -40 1,737 753 100 1,127 -631 private net resource flows 173 3,475 -215 19,457 19,314 18,780 21,177 11,701 -4,614 681

NET TRANSFERS -116 1,593 -2,584 12,748 10,811 10,652 11,363 -971 -14,456 -1,768Interest on long-term debt 338 1,337 2,208 4,679 5,724 7,099 8,467 9,686 9,573 1,696Profit remittances on FDI 0 605 637 2,083 2,739 2,765 2,100 3,086 1,397 122Memo: official net transfers 15 -86 21 -1,279 -1,293 540 -647 -1,494 -352 -1,709 private net transfers -132 1,679 -2,604 14,027 12,105 10,112 12,010 523 -14,104 -59


Gross national income (GNI) 30,396 76,287 135,150 266,648 286,641 291,542 276,126 276,832 260,454 95,584Exports of goods, serv. & inc. (XGS) .. 11,202 16,654 32,863 36,456 37,306 33,986 38,595 36,314 31,834Worker remit. & comp. of employees 0 56 0 57 57 59 53 46 42 194Imports of goods & services (MGS) .. 15,999 13,100 40,091 49,119 52,199 46,320 47,887 40,573 22,656International reserves (RES) 682 9,297 6,222 19,719 22,425 24,856 26,350 25,152 14,556 10,492Current account balance .. -4,774 4,552 -6,822 -12,240 -14,530 -11,966 -8,937 -3,978 9,592

4. DEBT INDICATORS

EDT / XGS (%) .. 242.4 373.7 338.9 352.2 379.4 427.5 378.0 376.5 415.6EDT / GNI (%) 19.1 35.6 46.0 41.8 44.8 48.6 52.6 52.7 52.5 138.4TDS / XGS (%) .. 37.3 37.0 39.4 50.0 57.6 75.6 70.9 66.1 18.3INT / XGS (%) .. 20.8 16.3 18.8 20.1 24.0 30.1 30.1 30.4 8.1INT / GNI (%) 1.1 3.1 2.0 2.3 2.6 3.1 3.7 4.2 4.2 2.7RES / EDT (%) 11.7 34.2 10.0 17.7 17.5 17.6 18.1 17.2 10.6 7.9RES / MGS (months) .. 7.0 5.7 5.9 5.5 5.7 6.8 6.3 4.3 5.6Short-term / EDT (%) 11.0 38.2 16.8 21.1 24.9 21.9 20.2 19.4 14.6 11.2Concessional / EDT (%) 2.9 1.3 0.8 2.2 1.8 1.6 1.4 1.2 1.0 0.9Multilateral / EDT (%) 4.8 4.0 8.0 8.7 8.0 9.4 10.5 11.1 13.1 12.6

53ARGENTINA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 5,171 16,774 48,676 81,588 90,555 105,151 111,401 112,508 102,753 103,140Public and publicly guaranteed 1,880 10,181 46,876 62,519 67,144 77,285 84,081 86,599 71,125 74,661Official creditors 637 1,903 11,226 19,771 18,352 20,492 20,991 20,534 21,211 21,378 Multilateral 281 1,087 5,007 9,743 10,268 13,317 15,324 16,235 17,890 16,727 Concessional 1 36 30 7 5 3 1 0 0 0 Bilateral 356 816 6,219 10,028 8,084 7,175 5,667 4,299 3,320 4,651 Concessional 166 329 498 2,487 2,270 2,197 2,056 1,686 1,344 1,255Private creditors 1,243 8,278 35,650 42,748 48,792 56,794 63,090 66,065 49,914 53,283 Bonds 386 832 11,514 41,435 47,563 55,696 62,302 65,522 49,480 52,744 Commercial banks 121 6,065 22,631 1,050 1,059 982 718 503 414 516 Other private 735 1,381 1,504 264 171 116 71 39 20 23Private nonguaranteed 3,291 6,593 1,800 19,068 23,411 27,865 27,319 25,909 31,628 28,479 Bonds 0 0 21 8,760 10,311 11,873 12,130 11,138 9,834 9,834 Commercial banks and other 3,291 6,593 1,779 10,308 13,100 15,992 15,189 14,771 21,794 18,645Memo: IBRD 181 404 2,609 5,372 5,494 7,188 8,314 8,789 9,440 8,513 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 907 4,708 1,150 17,894 19,097 25,289 23,322 19,032 6,208 1,828Public and publicly guaranteed 482 2,839 1,129 13,024 11,868 15,289 15,373 14,550 5,981 1,828Official creditors 162 276 910 1,678 1,887 3,504 2,814 1,937 2,822 1,671 Multilateral 64 207 736 1,584 1,673 3,487 2,798 1,923 2,813 835 Concessional 0 6 0 0 0 0 0 0 0 0 Bilateral 98 69 174 94 214 17 16 13 10 836 Concessional 46 13 149 34 97 11 11 11 9 0Private creditors 321 2,563 219 11,346 9,981 11,785 12,560 12,613 3,159 156 Bonds 119 136 0 11,204 9,927 11,768 12,542 12,611 3,159 155 Commercial banks 53 2,173 183 142 54 17 18 2 0 2 Other private 149 253 36 0 0 0 0 0 0 0Private nonguaranteed 424 1,869 21 4,870 7,229 10,001 7,949 4,482 227 0 Bonds 0 0 21 2,490 3,084 3,976 1,330 1,408 169 0 Commercial banks and other 424 1,869 0 2,380 4,145 6,025 6,619 3,075 58 0Memo: IBRD 32 71 405 1,077 797 2,029 1,573 1,019 1,329 424 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 772 1,853 2,745 6,350 10,410 11,892 14,631 14,453 11,806 2,517Public and publicly guaranteed 344 1,146 2,745 3,258 6,943 6,298 5,852 8,950 7,590 2,444Official creditors 110 218 454 1,652 1,964 1,806 2,084 1,868 1,721 2,356 Multilateral 16 121 405 565 568 669 770 825 968 2,266 Concessional 0 4 2 2 2 2 2 1 0 0 Bilateral 94 97 49 1,088 1,396 1,137 1,314 1,043 753 90 Concessional 11 34 0 103 144 205 254 262 260 57Private creditors 233 927 2,292 1,605 4,979 4,492 3,767 7,082 5,869 89 Bonds 20 178 878 1,275 4,738 4,244 3,515 6,863 5,753 69 Commercial banks 69 481 1,342 208 153 178 209 189 97 13 Other private 145 268 72 122 88 70 44 31 19 6Private nonguaranteed 428 707 0 3,092 3,468 5,594 8,780 5,503 4,217 73 Bonds 0 0 0 1,311 1,468 2,462 2,357 2,309 1,058 0 Commercial banks and other 428 707 0 1,781 2,000 3,133 6,423 3,194 3,159 73Memo: IBRD 5 34 233 282 299 350 445 538 676 1,353 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT 135 2,855 -1,595 11,544 8,687 13,397 8,691 4,579 -5,598 -690Public and publicly guaranteed 139 1,693 -1,616 9,766 4,926 8,991 9,522 5,600 -1,609 -617Official creditors 52 58 456 25 -77 1,698 729 69 1,101 -684 Multilateral 47 86 332 1,019 1,105 2,818 2,028 1,098 1,844 -1,431 Concessional 0 2 -2 -2 -2 -2 -2 -1 0 0 Bilateral 5 -29 124 -994 -1,181 -1,120 -1,298 -1,029 -743 746 Concessional 35 -20 149 -69 -48 -194 -243 -251 -251 -57Private creditors 87 1,635 -2,072 9,740 5,002 7,292 8,792 5,531 -2,710 68 Bonds 99 -42 -878 9,930 5,190 7,523 9,027 5,748 -2,594 86 Commercial banks -16 1,692 -1,159 -67 -99 -161 -191 -187 -97 -12 Other private 4 -16 -36 -122 -88 -70 -44 -31 -19 -6Private nonguaranteed -4 1,162 21 1,778 3,761 4,406 -831 -1,021 -3,989 -73 Bonds 0 0 21 1,179 1,616 1,514 -1,027 -901 -889 0 Commercial banks and other -4 1,162 0 599 2,145 2,892 196 -120 -3,100 -73Memo: IBRD 27 37 172 795 498 1,678 1,128 481 653 -928 IDA 0 0 0 0 0 0 0 0 0 0

54ARGENTINA


INTEREST PAYMENTS (LINT) 338 1,337 2,208 4,679 5,724 7,099 8,467 9,686 9,573 1,696Public and publicly guaranteed 121 841 2,064 3,737 4,494 5,428 6,276 7,645 8,342 1,640Official creditors 33 146 456 1,331 1,254 1,197 1,401 1,593 1,480 1,078 Multilateral 18 97 375 634 692 728 1,022 1,256 1,208 1,006 Concessional 0 1 1 0 0 0 0 0 0 0 Bilateral 16 49 81 697 562 469 379 338 271 71 Concessional 4 15 0 114 103 100 88 92 67 24Private creditors 88 695 1,608 2,405 3,240 4,230 4,875 6,052 6,862 562 Bonds 23 80 973 2,290 3,155 4,129 4,805 5,909 6,732 465 Commercial banks 9 504 621 93 71 92 63 138 128 95 Other private 56 111 13 23 14 10 7 4 2 2Private nonguaranteed 217 496 144 942 1,230 1,672 2,191 2,041 1,231 56 Bonds 0 0 0 691 806 907 1,157 1,109 1,033 0 Commercial banks and other 217 496 144 251 424 765 1,035 932 198 56Memo: IBRD 11 37 181 326 335 375 537 701 713 517 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT -203 1,518 -3,803 6,865 2,962 6,298 224 -5,107 -15,171 -2,385Public and publicly guaranteed 18 852 -3,680 6,029 432 3,563 3,246 -2,045 -9,950 -2,256Official creditors 18 -88 0 -1,306 -1,330 501 -671 -1,524 -378 -1,762 Multilateral 30 -11 -44 385 412 2,091 1,006 -157 636 -2,437 Concessional 0 1 -2 -2 -2 -2 -2 -1 0 0 Bilateral -11 -77 43 -1,690 -1,743 -1,589 -1,677 -1,367 -1,014 675 Concessional 31 -35 149 -182 -150 -294 -331 -344 -319 -81Private creditors 0 940 -3,680 7,335 1,762 3,062 3,917 -521 -9,572 -495 Bonds 77 -122 -1,851 7,640 2,035 3,395 4,222 -161 -9,326 -379 Commercial banks -25 1,189 -1,780 -160 -170 -252 -254 -325 -225 -107 Other private -52 -127 -50 -145 -102 -80 -50 -35 -21 -8Private nonguaranteed -221 666 -123 835 2,531 2,734 -3,022 -3,062 -5,220 -129 Bonds 0 0 21 487 810 607 -2,184 -2,010 -1,922 0 Commercial banks and other -221 666 -144 348 1,721 2,127 -838 -1,052 -3,298 -129Memo: IBRD 16 0 -10 469 162 1,303 591 -220 -59 -1,445 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) 1,110 3,190 4,953 11,029 16,135 18,992 23,099 24,139 21,379 4,213Public and publicly guaranteed 464 1,987 4,809 6,995 11,437 11,725 12,128 16,595 15,931 4,084Official creditors 143 364 910 2,984 3,218 3,003 3,485 3,461 3,200 3,433 Multilateral 34 219 780 1,199 1,260 1,397 1,792 2,080 2,176 3,272 Concessional 0 5 2 2 2 2 2 1 0 0 Bilateral 109 146 130 1,785 1,957 1,606 1,693 1,380 1,024 161 Concessional 15 48 0 216 247 305 341 354 328 81Private creditors 321 1,623 3,899 4,011 8,219 8,723 8,643 13,134 12,731 651 Bonds 42 258 1,851 3,564 7,893 8,373 8,320 12,772 12,485 534 Commercial banks 78 985 1,963 301 224 269 272 327 225 109 Other private 201 380 86 145 102 80 50 35 21 8Private nonguaranteed 646 1,203 144 4,035 4,698 7,266 10,971 7,544 5,448 129 Bonds 0 0 0 2,003 2,274 3,369 3,514 3,418 2,091 0 Commercial banks and other 646 1,203 144 2,032 2,424 3,898 7,457 4,126 3,356 129Memo: IBRD 16 71 414 608 635 725 982 1,239 1,388 1,870 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT 576 2,176 2,355 6,032 6,434 9,088 9,045 5,731 7,180 6,280Official creditors 325 1,122 1,936 5,669 6,022 8,965 7,928 5,367 6,560 5,620Private creditors 252 1,054 418 364 412 123 1,118 364 621 660Memorandum items Concessional LDOD 167 365 529 2,493 2,274 2,200 2,056 1,686 1,344 1,255 Variable rate LDOD 3,291 12,417 28,167 39,197 45,532 54,173 55,369 51,715 56,743 53,323 Public sector LDOD 1,780 7,979 44,707 62,477 67,063 77,221 84,020 86,547 71,083 74,624 Private sector LDOD 3,390 8,795 3,969 19,110 23,492 27,929 27,381 25,961 31,670 28,516



55ARGENTINA



Total amount rescheduled .. .. 932 0 0 0 0 0 32,886 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 17,864 0 Principal rescheduled .. .. 512 0 0 0 0 0 0 0 Official .. .. 381 0 0 0 0 0 0 0 Private .. .. 131 0 0 0 0 0 0 0 Interest rescheduled .. .. 420 0 0 0 0 0 0 0 Official .. .. 382 0 0 0 0 0 0 0 Private .. .. 38 0 0 0 0 0 0 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 99Debt stock reduction .. .. 7,202 0 2,700 2,729 767 3,434 27,763 3,505 of which debt buyback .. .. 1,232 0 2,085 2,100 667 2,745 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -3,024 12,576 17,033 13,138 3,745 585 -9,150 -4,415 Net flows on debt 135 6,327 -1,856 14,052 17,141 11,708 6,326 4,293 -4,695 -1,816 Net change in interest arrears .. .. 1,949 0 0 0 0 0 0 5,218 Interest capitalized .. .. 420 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -5,970 0 -615 -629 -100 -689 -27,763 -3,505 Cross-currency valuation .. .. 1,346 -3,092 -4,175 734 -2,554 -2,528 -2,262 6,645 Residual .. .. 1,086 1,616 4,682 1,325 72 -492 25,569 -956

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 7.3 13.7 6.4 8.4 8.2 8.9 9.5 9.9 6.9 3.4 Maturity (years) 11.9 8.6 17.1 9.1 14.5 19.2 8.8 11.7 9.8 11.7 Grace period (years) 2.9 4.5 3.5 7.2 12.1 10.1 7.4 11.5 3.3 4.6 Grant element (%) 12.6 -17.5 19.3 4.0 8.5 5.9 0.2 -2.7 13.3 28.2Official creditors Interest (%) 7.5 6.1 6.5 6.8 6.7 8.5 7.9 7.2 5.9 3.4 Maturity (years) 16.7 14.5 19.2 23.1 16.3 28.3 11.1 18.2 14.4 11.7 Grace period (years) 3.4 5.2 4.0 5.1 4.1 4.0 3.3 4.8 4.2 4.6 Grant element (%) 11.4 20.2 20.6 18.4 18.4 7.6 10.3 17.2 20.9 28.2Private creditors Interest (%) 7.3 14.3 6.0 8.6 8.5 9.1 9.7 10.0 8.2 0.0 Maturity (years) 10.6 8.2 8.4 7.5 14.0 13.8 8.4 11.6 4.1 0.0 Grace period (years) 2.7 4.4 1.3 7.4 13.9 13.8 8.1 11.6 2.1 0.0 Grant element (%) 13.0 -20.5 14.1 2.3 6.2 4.8 -1.4 -3.0 3.7 0.0Memorandum items Commitments 494 3,062 572 12,493 15,724 18,777 15,712 11,985 6,918 455 Official creditors 105 225 460 1,310 2,997 6,996 2,142 196 3,844 455 Private creditors 389 2,837 113 11,183 12,727 11,781 13,570 11,789 3,074 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 2,609 1,541 818 509 271 102 66 28 9 2Principal 17,862 18,370 12,310 10,669 7,909 8,072 5,083 2,530 1,712 1,544Interest 6,112 5,240 4,337 3,750 3,182 2,375 1,773 1,552 1,362 1,252Official creditors Disbursements 2,078 1,517 808 509 271 102 66 28 9 2Principal 6,306 2,634 2,470 2,235 2,282 1,974 1,558 1,374 1,104 902Interest 1,071 887 787 689 579 464 371 300 242 196 Bilateral creditors Disbursements 287 146 64 26 9 0 0 0 0 0 Principal 954 953 928 568 529 414 105 64 64 22 Interest 213 183 146 107 70 35 13 8 4 1 Multilateral creditors Disbursements 1,790 1,371 744 483 262 102 66 28 9 2 Principal 5,352 1,680 1,542 1,666 1,752 1,561 1,453 1,310 1,039 880 Interest 858 705 641 582 509 429 357 292 237 194Private creditors Disbursements 532 24 10 0 0 0 0 0 0 0Principal 11,556 15,736 9,840 8,435 5,627 6,097 3,524 1,155 609 642Interest 5,041 4,353 3,550 3,061 2,603 1,910 1,402 1,252 1,120 1,056 Commercial banks Disbursements 72 24 10 0 0 0 0 0 0 0 Principal 110 105 95 65 64 17 15 14 13 0 Interest 33 28 21 14 9 4 3 2 1 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 11,445 15,632 9,745 8,370 5,563 6,081 3,509 1,142 596 642 Interest 5,008 4,325 3,529 3,047 2,594 1,906 1,399 1,250 1,119 1,056

56ARMENIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 521 638 804 902 961 989 1,149Long-term debt (LDOD) .. .. .. 403 484 569 651 741 774 941Public and publicly guaranteed .. .. .. 403 484 569 651 719 754 920Private nonguaranteed .. .. .. 0 0 0 0 21 20 21Use of IMF credit .. .. .. 116 132 190 201 175 173 195Short-term debt .. .. .. 1 22 45 49 44 42 14of which interest arrears on LDOD .. .. .. 0 0 0 0 6 6 0 Official creditors .. .. .. 0 0 0 0 6 6 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. .. 64 53 0 0 4 12 0 Official creditors .. .. .. 64 53 0 0 4 12 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: export credits .. .. .. 2 0 0 0 0 19 21

TOTAL DEBT FLOWS Disbursements .. .. .. 195 131 164 138 131 96 115Long-term debt .. .. .. 146 108 112 109 131 83 89IMF purchases .. .. .. 49 23 51 29 0 13 26Principal repayments .. .. .. 33 8 41 39 31 33 48Long-term debt .. .. .. 33 8 40 26 15 24 30IMF repurchases .. .. .. 0 0 1 13 16 9 18Net flows on debt .. .. .. 163 144 146 103 89 60 44of which short-term debt .. .. .. 0 21 23 4 -11 -2 -23Interest payments (INT) .. .. .. 10 16 21 20 15 21 26Long-term debt .. .. .. 7 13 15 14 9 18 24IMF charges .. .. .. 3 3 3 3 3 2 1Short-term debt .. .. .. 0 1 2 2 2 1 1Net transfers on debt .. .. .. 153 128 125 83 75 39 18Total debt service paid (TDS) .. .. .. 43 24 61 59 46 55 74Long-term debt .. .. .. 39 20 56 40 25 42 54IMF repurchases and charges .. .. .. 3 3 4 16 19 11 20Short-term debt (interest only) .. .. .. 0 1 2 2 2 1 1





Gross national income (GNI) .. .. .. 1,642 1,738 1,954 1,900 1,964 2,182 2,455Exports of goods, serv. & inc. (XGS) .. .. .. 457 478 473 492 560 653 844Worker remit. & comp. of employees .. .. .. 84 136 92 95 88 94 131Imports of goods & services (MGS) .. .. .. 921 993 1,059 958 1,017 1,017 1,156International reserves (RES) .. .. .. 168 239 336 331 331 333 440Current account balance .. .. .. -291 -307 -418 -307 -278 -201 -148

4. DEBT INDICATORS


57ARMENIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 403 484 569 651 741 774 941Public and publicly guaranteed .. .. .. 403 484 569 651 719 754 920Official creditors .. .. .. 403 484 564 633 702 737 909 Multilateral .. .. .. 311 369 400 456 485 530 621 Concessional .. .. .. 175 242 300 370 407 448 556 Bilateral .. .. .. 92 116 163 177 217 207 288 Concessional .. .. .. 26 17 47 51 96 102 125Private creditors .. .. .. 0 0 5 19 17 17 11 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 5 5 5 5 0 Other private .. .. .. 0 0 0 14 12 12 11Private nonguaranteed .. .. .. 0 0 0 0 21 20 21 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 21 20 21Memo: IBRD .. .. .. 10 10 10 9 8 7 8 IDA .. .. .. 174 240 293 352 388 428 530



NET FLOWS ON DEBT .. .. .. 113 100 72 83 116 59 59Public and publicly guaranteed .. .. .. 113 100 72 83 95 59 59Official creditors .. .. .. 113 100 67 69 97 59 63 Multilateral .. .. .. 112 76 20 66 51 63 51 Concessional .. .. .. 88 77 48 76 56 58 70 Bilateral .. .. .. 1 25 47 3 46 -4 13 Concessional .. .. .. 12 1 30 -3 49 12 14Private creditors .. .. .. 0 0 5 14 -2 0 -4 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 5 0 0 0 -5 Other private .. .. .. 0 0 0 14 -2 0 1Private nonguaranteed .. .. .. 0 0 0 0 21 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 21 0 0Memo: IBRD .. .. .. 5 1 0 0 0 0 0 IDA .. .. .. 87 76 43 66 54 55 66

58ARMENIA



NET TRANSFERS ON DEBT .. .. .. 107 88 57 69 107 41 35Public and publicly guaranteed .. .. .. 107 88 57 69 85 42 36Official creditors .. .. .. 107 88 52 55 88 43 40 Multilateral .. .. .. 109 66 10 59 43 55 44 Concessional .. .. .. 88 76 47 74 53 54 67 Bilateral .. .. .. -2 22 42 -4 45 -12 -3 Concessional .. .. .. 11 1 30 -4 48 11 13Private creditors .. .. .. 0 0 5 14 -2 -1 -4 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 5 0 0 -1 -5 Other private .. .. .. 0 0 0 14 -2 0 1Private nonguaranteed .. .. .. 0 0 0 0 21 -1 -1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 21 -1 -1Memo: IBRD .. .. .. 5 0 -1 -1 -1 -1 -1 IDA .. .. .. 86 75 41 64 52 52 63


UNDISBURSED DEBT .. .. .. 118 196 297 290 227 243 166Official creditors .. .. .. 118 191 267 264 212 226 166Private creditors .. .. .. 0 5 30 26 16 17 0Memorandum items Concessional LDOD .. .. .. 202 259 347 421 503 550 681 Variable rate LDOD .. .. .. 199 152 134 130 142 132 110 Public sector LDOD .. .. .. 403 484 569 651 719 754 920 Private sector LDOD .. .. .. 0 0 0 0 21 20 21



59ARMENIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 150 118 166 98 59 28 160 Net flows on debt .. .. .. 163 144 146 103 89 60 44 Net change in interest arrears .. .. 0 -1 0 0 0 6 0 -6 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 -2 Cross-currency valuation .. .. 0 -82 -90 -107 44 -31 -30 62 Residual .. .. 0 70 64 126 -49 -5 -2 62



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


60AZERBAIJAN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 438 506 702 1,039 1,267 1,260 1,398Long-term debt (LDOD) .. .. .. 248 236 380 603 775 862 1,037Public and publicly guaranteed .. .. .. 248 236 307 495 676 767 964Private nonguaranteed .. .. .. 0 0 72 108 99 95 72Use of IMF credit .. .. .. 175 267 321 407 336 295 279Short-term debt .. .. .. 15 4 1 29 156 103 82of which interest arrears on LDOD .. .. .. 2 0 0 0 0 0 0 Official creditors .. .. .. 2 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. .. 36 0 25 25 0 0 0 Official creditors .. .. .. 36 0 25 25 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: export credits .. .. .. 0 18 64 159 348 270 163

TOTAL DEBT FLOWS Disbursements .. .. .. 125 196 179 384 277 187 220Long-term debt .. .. .. 47 91 137 274 277 177 210IMF purchases .. .. .. 78 105 41 110 0 10 10Principal repayments .. .. .. 0 58 3 58 123 93 159Long-term debt .. .. .. 0 58 3 42 71 53 110IMF repurchases .. .. .. 0 0 0 16 51 39 49Net flows on debt .. .. .. 130 129 173 354 282 41 41of which short-term debt .. .. .. 5 -9 -3 28 127 -53 -20Interest payments (INT) .. .. .. 10 20 21 28 58 39 28Long-term debt .. .. .. 4 12 11 15 39 24 19IMF charges .. .. .. 5 8 10 11 14 10 6Short-term debt .. .. .. 1 0 0 1 5 5 4Net transfers on debt .. .. .. 120 109 152 326 224 2 13Total debt service paid (TDS) .. .. .. 10 78 24 85 181 132 187Long-term debt .. .. .. 4 69 14 56 110 77 128IMF repurchases and charges .. .. .. 5 8 10 28 65 50 55Short-term debt (interest only) .. .. .. 1 0 0 1 5 5 4


NET RESOURCE FLOWS .. .. .. 716 1,184 1,194 797 386 398 1,555Net flow of long-term debt (ex. IMF) .. .. .. 47 34 135 233 206 123 100Foreign direct investment (net) .. .. .. 627 1,115 1,023 510 130 227 1,392Portfolio equity flows .. .. .. 0 0 0 0 0 0 0Grants (excluding technical coop.) .. .. .. 43 35 36 54 50 48 63Memo: technical coop. grants .. .. .. 18 16 32 22 30 42 75 official net resource flows .. .. .. 89 61 104 190 197 136 242 private net resource flows .. .. .. 627 1,123 1,090 606 190 262 1,313

NET TRANSFERS .. .. .. 712 1,165 1,175 780 30 45 1,181Interest on long-term debt .. .. .. 4 12 11 15 39 24 19Profit remittances on FDI .. .. .. 0 7 8 2 317 329 356Memo: official net transfers .. .. .. 85 49 96 183 163 120 232 private net transfers .. .. .. 627 1,116 1,078 597 -133 -75 949


Gross national income (GNI) .. .. .. 3,115 3,953 4,433 4,536 4,977 5,375 5,705Exports of goods, serv. & inc. (XGS) .. .. .. 808 1,173 1,048 1,348 2,231 2,514 2,867Worker remit. & comp. of employees .. .. .. 0 0 0 55 57 104 163Imports of goods & services (MGS) .. .. .. 1,806 2,133 2,476 1,975 2,415 2,539 3,543International reserves (RES) .. .. .. 211 466 447 673 680 897 722Current account balance .. .. .. -931 -916 -1,365 -600 -168 -52 -768

4. DEBT INDICATORS


61AZERBAIJAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 248 236 380 603 775 862 1,037Public and publicly guaranteed .. .. .. 248 236 307 495 676 767 964Official creditors .. .. .. 248 228 302 442 564 618 847 Multilateral .. .. .. 138 152 199 283 319 342 434 Concessional .. .. .. 64 116 145 206 227 249 331 Bilateral .. .. .. 110 76 103 159 244 277 413 Concessional .. .. .. 0 1 13 89 160 200 347Private creditors .. .. .. 0 8 5 52 113 148 117 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 27 65 99 81 Other private .. .. .. 0 8 5 25 48 49 36Private nonguaranteed .. .. .. 0 0 72 108 99 95 72 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 72 108 99 95 72Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 64 116 141 199 216 235 314



NET FLOWS ON DEBT .. .. .. 47 34 135 233 206 123 100Public and publicly guaranteed .. .. .. 47 34 65 184 208 126 132Official creditors .. .. .. 47 25 68 137 146 88 179 Multilateral .. .. .. 44 24 42 87 47 31 69 Concessional .. .. .. 36 55 24 64 32 31 60 Bilateral .. .. .. 3 1 26 50 99 56 110 Concessional .. .. .. 0 1 11 70 85 64 120Private creditors .. .. .. 0 8 -3 47 62 39 -47 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 28 38 35 -32 Other private .. .. .. 0 8 -3 19 24 3 -14Private nonguaranteed .. .. .. 0 0 69 49 -2 -3 -32 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 69 49 -2 -3 -32Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 36 55 21 60 27 28 57

62AZERBAIJAN



NET TRANSFERS ON DEBT .. .. .. 42 22 123 218 167 100 82Public and publicly guaranteed .. .. .. 42 22 56 174 174 107 117Official creditors .. .. .. 42 14 60 129 113 72 169 Multilateral .. .. .. 43 23 41 84 40 24 63 Concessional .. .. .. 35 55 23 62 30 29 57 Bilateral .. .. .. -1 -9 19 45 73 49 106 Concessional .. .. .. 0 1 11 69 62 61 117Private creditors .. .. .. 0 8 -4 45 61 35 -52 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 28 38 35 -36 Other private .. .. .. 0 8 -4 18 23 0 -16Private nonguaranteed .. .. .. 0 0 67 43 -7 -8 -35 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 67 43 -7 -8 -35Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 35 55 20 59 26 26 55




Euro .. .. .. .. .. .. .. .. 3.3 3.0Deutsche mark .. .. .. 0.0 0.4 1.8 3.1 2.8 .. ..French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. ..Japanese yen .. .. .. 0.0 0.0 2.5 17.4 22.6 24.4 33.3Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Swiss franc .. .. .. 0.0 0.0 0.0 3.8 7.1 10.9 7.8U.S.dollars .. .. .. 60.0 99.6 94.5 74.4 64.0 58.5 52.5Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0All other currencies 0.0 0.0 0.0 40.0 0.0 1.2 1.4 3.5 2.9 3.5

63AZERBAIJAN




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 117 68 196 337 228 -7 138 Net flows on debt .. .. .. 130 129 173 354 282 41 41 Net change in interest arrears .. .. 0 -4 -2 0 0 0 0 0 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 -36 0 0 0 0 0 Cross-currency valuation .. .. 0 -17 -54 -49 -11 -42 -44 88 Residual .. .. 0 8 31 72 -7 -12 -4 9



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


64BANGLADESH


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. 3,918 12,439 15,337 14,421 15,667 16,570 15,682 15,236 17,037Long-term debt (LDOD) .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445Public and publicly guaranteed .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445Private nonguaranteed .. 0 0 0 0 0 0 0 0 0Use of IMF credit .. 424 626 516 372 422 318 216 149 71Short-term debt .. 212 156 163 175 150 254 295 315 521of which interest arrears on LDOD .. 0 1 0 0 0 0 0 21 27 Official creditors .. 0 1 0 0 0 0 0 21 27 Private creditors .. 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. 0 11 3 3 4 4 4 58 71 Official creditors .. 0 11 3 3 4 4 4 58 71 Private creditors .. 0 0 0 0 0 0 0 0 0Memo: export credits .. 0 329 437 430 359 295 295 253 274

TOTAL DEBT FLOWS Disbursements .. 858 1,273 898 628 846 803 889 1,081 767Long-term debt .. 631 1,213 898 628 711 803 889 1,081 767IMF purchases .. 227 60 0 0 134 0 0 0 0Principal repayments .. 168 548 465 508 472 524 599 492 551Long-term debt .. 34 344 380 394 371 431 513 432 463IMF repurchases .. 134 204 86 115 101 93 86 60 88Net flows on debt .. 792 813 411 132 348 383 331 588 417of which short-term debt .. 102 88 -21 12 -25 105 41 -1 200Interest payments (INT) .. 73 201 207 182 172 194 196 179 172Long-term debt .. 44 151 194 171 162 173 171 162 161IMF charges .. 13 40 3 2 2 6 7 6 3Short-term debt .. 16 9 10 9 8 14 17 11 7Net transfers on debt .. 719 612 204 -50 177 190 136 409 245Total debt service paid (TDS) .. 241 749 672 690 644 718 794 671 722Long-term debt .. 78 495 574 564 532 605 684 594 624IMF repurchases and charges .. 147 245 88 117 103 99 93 66 91Short-term debt (interest only) .. 16 9 10 9 8 14 17 11 7


NET RESOURCE FLOWS .. 1,607 1,644 1,010 943 1,183 1,225 1,251 1,326 893Net flow of long-term debt (ex. IMF) .. 597 869 518 234 340 372 377 648 305Foreign direct investment (net) .. 9 3 14 139 190 180 280 79 47Portfolio equity flows .. 0 0 -117 -10 -4 -1 1 -4 0Grants (excluding technical coop.) .. 1,001 772 596 579 657 675 592 603 541Memo: technical coop. grants .. 159 234 277 233 203 170 212 212 215 official net resource flows .. 1,588 1,585 1,144 844 1,026 1,059 933 1,022 761 private net resource flows .. 19 59 -133 99 157 166 318 305 132

NET TRANSFERS .. 1,563 1,493 798 746 981 970 930 990 525Interest on long-term debt .. 44 151 194 171 162 173 171 162 161Profit remittances on FDI .. 0 0 19 27 40 82 149 175 206Memo: official net transfers .. 1,546 1,445 961 683 873 892 773 866 602 private net transfers .. 17 48 -163 63 109 78 157 123 -77


Gross national income (GNI) .. 17,609 30,757 41,877 43,688 45,523 47,542 48,915 48,635 49,746Exports of goods, serv. & inc. (XGS) .. 1,420 2,907 6,088 7,140 7,556 8,127 9,251 9,008 9,876Worker remit. & comp. of employees .. 339 779 1,345 1,527 1,606 1,807 1,968 2,105 2,857Imports of goods & services (MGS) .. 2,904 4,140 7,644 8,032 8,159 9,191 10,018 10,017 9,529International reserves (RES) .. 331 660 1,869 1,611 1,936 1,634 1,516 1,306 1,722Current account balance .. -702 -398 -991 -286 -35 -364 -306 -535 742

4. DEBT INDICATORS


65BANGLADESH


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445Public and publicly guaranteed .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445Official creditors .. 3,226 11,435 14,433 13,679 14,918 15,788 14,925 14,299 15,880 Multilateral .. 1,251 6,441 9,751 9,520 10,492 11,172 10,996 10,721 12,123 Concessional .. 1,190 6,344 9,701 9,472 10,444 11,106 10,930 10,666 12,061 Bilateral .. 1,975 4,994 4,682 4,160 4,426 4,616 3,929 3,579 3,757 Concessional .. 1,960 4,941 4,680 4,158 4,426 4,616 3,929 3,579 3,757Private creditors .. 56 223 225 195 177 210 246 473 565 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 21 7 1 0 0 15 26 29 Other private .. 56 202 218 193 177 210 232 448 536Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 0 0 0 0 0 0Memo: IBRD .. 55 64 46 38 36 31 24 17 13 IDA .. 926 4,095 5,713 5,701 6,168 6,428 6,431 6,439 7,063

DISBURSEMENTS .. 631 1,213 898 628 711 803 889 1,081 767Public and publicly guaranteed .. 631 1,213 898 628 711 803 889 1,081 767Official creditors .. 614 1,123 890 628 711 789 823 833 672 Multilateral .. 276 822 642 520 617 724 651 539 541 Concessional .. 275 792 639 512 615 704 640 539 534 Bilateral .. 338 301 248 109 94 65 172 294 131 Concessional .. 338 301 248 109 94 65 172 294 131Private creditors .. 17 90 7 0 0 15 67 247 95 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 22 0 0 0 0 15 11 0 Other private .. 17 67 7 0 0 15 52 236 95Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 0 0 0 0 0 0Memo: IBRD .. 0 0 0 0 0 0 0 0 0 IDA .. 156 464 279 301 350 413 357 312 301

PRINCIPAL REPAYMENTS .. 34 344 380 394 371 431 513 432 463Public and publicly guaranteed .. 34 344 380 394 371 431 513 432 463Official creditors .. 28 310 342 364 342 405 482 414 452 Multilateral .. 1 62 111 124 132 154 168 181 204 Concessional .. 0 44 106 119 127 149 163 175 198 Bilateral .. 27 248 232 240 210 250 314 234 248 Concessional .. 23 239 228 239 209 250 314 234 248Private creditors .. 6 34 37 30 29 27 31 18 10 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 2 6 6 1 0 0 0 0 Other private .. 6 32 32 24 28 27 31 18 10Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 0 0 0 0 0 0Memo: IBRD .. 0 2 5 4 4 5 5 5 6 IDA .. 0 13 50 55 61 73 82 94 106

NET FLOWS ON DEBT .. 597 869 518 234 340 372 377 648 305Public and publicly guaranteed .. 597 869 518 234 340 372 377 648 305Official creditors .. 587 814 548 264 369 384 341 419 220 Multilateral .. 275 761 531 396 485 570 483 359 337 Concessional .. 275 749 533 394 488 554 477 364 336 Bilateral .. 311 53 16 -132 -115 -186 -142 60 -117 Concessional .. 315 62 20 -131 -114 -185 -142 60 -117Private creditors .. 11 55 -30 -30 -29 -12 36 230 85 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 20 -6 -6 -1 0 15 11 0 Other private .. 11 35 -24 -24 -28 -12 21 218 85Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 0 0 0 0 0 0Memo: IBRD .. 0 -2 -5 -4 -4 -5 -5 -5 -6 IDA .. 156 451 229 246 289 339 275 218 195

66BANGLADESH


INTEREST PAYMENTS (LINT) .. 44 151 194 171 162 173 171 162 161Public and publicly guaranteed .. 44 151 194 171 162 173 171 162 161Official creditors .. 42 140 183 160 154 167 160 155 158 Multilateral .. 11 51 85 84 85 94 93 96 100 Concessional .. 7 46 82 81 82 92 91 94 98 Bilateral .. 31 89 98 77 69 73 67 60 58 Concessional .. 30 84 97 77 69 73 67 60 58Private creditors .. 2 11 11 10 8 7 12 6 3 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 1 1 0 0 0 0 1 1 Other private .. 2 11 11 10 8 7 11 5 2Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 0 0 0 0 0 0Memo: IBRD .. 3 4 3 3 2 2 2 1 1 IDA .. 6 28 42 42 43 46 47 48 50

NET TRANSFERS ON DEBT .. 553 718 324 64 179 199 205 487 144Public and publicly guaranteed .. 553 718 324 64 179 199 205 487 144Official creditors .. 545 673 365 104 216 217 181 263 62 Multilateral .. 264 709 446 313 400 475 390 263 237 Concessional .. 267 702 451 313 406 462 386 270 238 Bilateral .. 280 -36 -81 -209 -184 -258 -209 0 -175 Concessional .. 285 -23 -77 -208 -183 -258 -209 0 -175Private creditors .. 8 44 -41 -40 -37 -19 24 223 82 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 20 -6 -6 -1 0 14 10 -1 Other private .. 8 24 -35 -34 -36 -19 10 213 83Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 0 0 0 0 0 0Memo: IBRD .. -3 -5 -8 -7 -7 -7 -7 -7 -7 IDA .. 150 424 187 204 246 293 228 170 145

DEBT SERVICE (LTDS) .. 78 495 574 564 532 605 684 594 624Public and publicly guaranteed .. 78 495 574 564 532 605 684 594 624Official creditors .. 70 450 525 524 495 571 642 570 610 Multilateral .. 12 113 196 207 217 249 261 276 304 Concessional .. 8 90 188 200 210 242 254 269 297 Bilateral .. 58 337 329 317 279 323 381 294 307 Concessional .. 53 323 325 316 277 322 381 294 307Private creditors .. 8 45 49 40 37 33 42 24 13 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 2 6 6 1 0 0 1 1 Other private .. 8 43 42 34 36 33 42 23 12Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 0 0 0 0 0 0Memo: IBRD .. 3 5 8 7 7 7 7 7 7 IDA .. 6 40 92 96 104 119 129 143 156

UNDISBURSED DEBT .. 2,189 4,318 3,504 3,392 3,688 4,246 3,827 3,479 3,433Official creditors .. 2,139 4,128 3,195 3,082 3,597 3,855 3,354 2,940 2,978Private creditors .. 50 190 309 309 91 392 473 539 455Memorandum items Concessional LDOD .. 3,150 11,284 14,381 13,630 14,869 15,723 14,859 14,244 15,819 Variable rate LDOD .. 5 21 7 1 0 0 0 0 7 Public sector LDOD .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445 Private sector LDOD .. 0 0 0 0 0 0 0 0 0


Euro .. .. .. .. .. .. .. .. 0.5 0.5Deutsche mark .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 .. ..French franc .. 1.2 1.2 0.5 0.4 0.4 0.3 0.3 .. ..Japanese yen .. 23.6 24.8 23.9 22.0 22.2 22.4 20.4 18.3 17.4Pound sterling .. 18.6 5.0 3.5 3.5 3.1 2.8 3.0 3.0 2.6Swiss franc .. 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0U.S.dollars .. 38.1 48.1 42.4 43.3 42.9 43.0 44.7 47.7 48.1Multiple currency .. 8.1 15.4 23.7 23.7 24.4 24.8 24.5 23.0 24.0Special drawing rights .. 0.2 1.0 3.9 4.7 4.9 4.6 4.8 4.9 4.8All other currencies .. 9.9 4.4 2.2 2.2 2.0 2.0 2.3 2.6 2.5

67BANGLADESH



Total amount rescheduled .. .. 0 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 0 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,593 -586 -916 1,246 903 -888 -446 1,801 Net flows on debt .. 792 813 411 132 348 383 331 588 417 Net change in interest arrears .. .. 1 -15 0 0 0 0 21 6 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 925 -1,132 -1,241 725 809 -1,087 -1,042 1,167 Residual .. .. -145 150 193 173 -290 -133 -12 211

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. 1.7 1.8 1.0 1.6 1.6 1.7 2.6 2.0 1.4 Maturity (years) .. 36.0 34.1 33.8 37.1 39.1 30.3 25.0 26.3 33.8 Grace period (years) .. 9.0 9.2 9.1 9.8 10.1 7.2 6.9 6.6 8.6 Grant element (%) .. 68.5 68.5 74.1 70.9 72.8 64.3 54.3 57.6 70.8Official creditors Interest (%) .. 1.5 1.1 1.0 1.6 1.6 1.2 2.4 1.2 1.3 Maturity (years) .. 36.9 37.6 33.8 37.1 39.1 34.5 28.2 32.1 34.2 Grace period (years) .. 9.2 10.2 9.1 9.8 10.1 8.4 7.4 8.2 8.7 Grant element (%) .. 70.4 76.1 74.1 70.9 72.8 72.4 59.2 69.1 71.5Private creditors Interest (%) .. 7.5 5.4 0.0 0.0 0.0 3.5 3.3 3.6 3.3 Maturity (years) .. 10.7 14.1 0.0 0.0 0.0 15.1 13.0 14.0 15.5 Grace period (years) .. 2.4 3.5 0.0 0.0 0.0 2.9 4.8 3.2 3.1 Grant element (%) .. 11.4 25.0 0.0 0.0 0.0 35.1 36.5 33.6 37.2Memorandum items Commitments .. 1,029 1,317 334 1,111 1,102 1,445 705 967 595 Official creditors .. 997 1,122 334 1,111 1,102 1,130 554 653 583 Private creditors .. 32 196 0 0 0 315 151 314 11


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


68BELARUS


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 1,105.2 1,171.2 1,153.6 983.2 847.6 870.3 907.6Long-term debt (LDOD) .. .. .. 729.7 682.5 798.1 710.4 690.1 643.7 710.6Public and publicly guaranteed .. .. .. 728.9 681.4 796.4 709.1 688.9 642.2 709.5Private nonguaranteed .. .. .. 0.8 1.1 1.8 1.3 1.2 1.5 1.1Use of IMF credit .. .. .. 273.5 256.6 242.6 178.1 114.2 80.8 55.6Short-term debt .. .. .. 102.0 232.0 112.9 94.7 43.3 145.8 141.4of which interest arrears on LDOD .. .. .. 9.7 3.0 6.3 8.9 13.8 4.7 0.9 Official creditors .. .. .. 1.5 1.2 3.8 6.8 12.2 2.3 0.0 Private creditors .. .. .. 8.2 1.8 2.6 2.2 1.6 2.4 0.9Memo: principal arrears on LDOD .. .. .. 11.7 1.1 9.4 23.9 28.7 9.9 1.0 Official creditors .. .. .. 1.1 0.8 5.9 11.1 27.8 7.6 0.0 Private creditors .. .. .. 10.6 0.3 3.5 12.8 0.8 2.3 1.0Memo: export credits .. .. .. 351.9 278.8 49.4 117.6 193.3 160.5 135.8

TOTAL DEBT FLOWS Disbursements .. .. .. 93.0 85.1 145.7 64.1 143.5 114.1 137.3Long-term debt .. .. .. 93.0 85.1 145.7 64.1 143.5 114.1 137.3IMF purchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments .. .. .. 59.0 69.5 85.2 148.9 190.4 173.5 156.0Long-term debt .. .. .. 59.0 69.5 60.8 90.8 134.9 143.7 125.8IMF repurchases .. .. .. 0.0 0.0 24.3 58.1 55.6 29.7 30.3Net flows on debt .. .. .. 35.1 152.3 -61.9 -105.7 -103.1 52.2 -19.3of which short-term debt .. .. .. 1.2 136.7 -122.5 -20.8 -56.2 111.6 -0.6Interest payments (INT) .. .. .. 53.9 73.3 61.4 53.3 47.6 56.2 41.4Long-term debt .. .. .. 37.5 52.4 40.5 40.4 37.7 46.0 33.8IMF charges .. .. .. 12.3 12.0 11.7 8.6 7.4 4.5 2.0Short-term debt .. .. .. 4.2 8.8 9.2 4.3 2.5 5.6 5.6Net transfers on debt .. .. .. -18.8 79.0 -123.2 -159.0 -150.7 -4.0 -60.6Total debt service paid (TDS) .. .. .. 112.9 142.8 146.5 202.2 238.0 229.6 197.4Long-term debt .. .. .. 96.5 122.0 101.3 131.2 172.5 189.7 159.6IMF repurchases and charges .. .. .. 12.3 12.0 36.0 66.7 63.0 34.3 32.2Short-term debt (interest only) .. .. .. 4.2 8.8 9.2 4.3 2.5 5.6 5.6


NET RESOURCE FLOWS .. .. .. 176.9 406.9 306.0 437.5 154.8 91.1 276.9Net flow of long-term debt (ex. IMF) .. .. .. 34.0 15.6 84.9 -26.7 8.7 -29.6 11.5Foreign direct investment (net) .. .. .. 104.5 351.6 203.2 444.0 118.8 95.8 247.1Portfolio equity flows .. .. .. 0.0 0.0 2.7 0.0 0.5 2.5 0.0Grants (excluding technical coop.) .. .. .. 38.4 39.7 15.2 20.2 26.9 22.4 18.3Memo: technical coop. grants .. .. .. 27.1 15.5 23.9 20.1 13.7 19.2 23.8 official net resource flows .. .. .. 71.6 83.1 105.9 -4.8 -0.2 5.9 50.4 private net resource flows .. .. .. 105.2 323.8 200.2 442.3 155.0 85.2 226.5

NET TRANSFERS .. .. .. 139.4 347.0 247.4 396.4 112.6 39.8 242.6Interest on long-term debt .. .. .. 37.5 52.4 40.5 40.4 37.7 46.0 33.8Profit remittances on FDI .. .. .. 0.0 7.5 18.2 0.7 4.6 5.3 0.5Memo: official net transfers .. .. .. 54.2 60.5 80.0 -29.5 -18.4 -21.9 33.8 private net transfers .. .. .. 85.2 286.5 167.4 425.9 131.0 61.7 208.8


Gross national income (GNI) .. .. .. 14,772.8 14,088.5 15,256.7 12,115.6 12,752.5 12,428.2 14,263.9Exports of goods, serv. & inc. (XGS) .. .. .. 6,794.8 7,897.8 7,155.9 6,474.1 7,681.8 8,462.9 9,309.0Worker remit. & comp. of employees .. .. .. 93.3 46.5 53.9 62.0 13.6 16.9 16.9Imports of goods & services (MGS) .. .. .. 7,379.4 8,806.3 8,236.3 6,718.0 8,159.6 9,051.9 9,860.1International reserves (RES) .. .. .. 469.2 393.7 702.8 294.3 350.5 390.7 618.8Current account balance .. .. .. -515.9 -859.2 -1,016.5 -193.7 -323.1 -434.9 -377.5

4. DEBT INDICATORS


69BELARUS


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 729.7 682.5 798.1 710.4 690.1 643.7 710.6Public and publicly guaranteed .. .. .. 728.9 681.4 796.4 709.1 688.9 642.2 709.5Official creditors .. .. .. 361.1 383.7 487.9 442.5 400.1 360.2 407.6 Multilateral .. .. .. 219.1 258.8 283.3 252.6 216.7 182.7 166.1 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 142.0 124.9 204.6 189.9 183.4 177.5 241.5 Concessional .. .. .. 85.8 85.8 85.7 84.7 83.5 81.1 117.8Private creditors .. .. .. 367.7 297.7 308.5 266.6 288.8 282.1 301.9 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 49.4 50.1 64.1 44.7 59.8 27.7 63.1 Other private .. .. .. 318.4 247.6 244.4 221.9 228.9 254.4 238.8Private nonguaranteed .. .. .. 0.8 1.1 1.8 1.3 1.2 1.5 1.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.8 1.1 1.8 1.3 1.2 1.5 1.1Memo: IBRD .. .. .. 120.7 123.8 134.9 122.3 105.2 91.4 89.2 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0

DISBURSEMENTS .. .. .. 93.0 85.1 145.7 64.1 143.5 114.1 137.3Public and publicly guaranteed .. .. .. 92.5 84.7 144.8 63.5 143.0 113.4 136.9Official creditors .. .. .. 56.5 63.8 110.7 19.4 25.4 48.8 89.6 Multilateral .. .. .. 46.6 63.8 29.6 19.4 25.4 10.6 9.0 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 9.9 0.0 81.1 0.0 0.0 38.2 80.6 Concessional .. .. .. 9.9 0.0 0.1 0.0 0.0 0.0 40.3Private creditors .. .. .. 36.0 20.9 34.0 44.2 117.7 64.5 47.3 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 8.1 9.5 13.2 0.0 47.8 6.0 39.1 Other private .. .. .. 27.9 11.4 20.8 44.2 69.9 58.5 8.1Private nonguaranteed .. .. .. 0.5 0.4 1.0 0.5 0.5 0.7 0.4 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.5 0.4 1.0 0.5 0.5 0.7 0.4Memo: IBRD .. .. .. 13.9 13.3 3.6 12.5 5.5 6.4 3.9 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0

PRINCIPAL REPAYMENTS .. .. .. 59.0 69.5 60.8 90.8 134.9 143.7 125.8Public and publicly guaranteed .. .. .. 58.9 69.4 60.5 90.3 134.3 143.3 125.6Official creditors .. .. .. 23.3 20.4 20.1 44.4 52.4 65.3 57.5 Multilateral .. .. .. 4.0 7.3 16.2 27.2 48.8 35.9 39.8 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 19.3 13.1 3.8 17.2 3.6 29.4 17.7 Concessional .. .. .. 0.0 0.0 0.2 1.0 1.3 2.3 3.6Private creditors .. .. .. 35.7 49.0 40.4 45.9 81.9 78.0 68.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 1.2 2.0 2.9 7.4 29.3 36.3 10.8 Other private .. .. .. 34.5 46.9 37.5 38.5 52.6 41.6 57.4Private nonguaranteed .. .. .. 0.1 0.1 0.4 0.5 0.6 0.4 0.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.1 0.1 0.4 0.5 0.6 0.4 0.1Memo: IBRD .. .. .. 0.0 0.0 0.0 11.3 14.3 13.7 13.6 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0

NET FLOWS ON DEBT .. .. .. 34.0 15.6 84.9 -26.7 8.7 -29.6 11.5Public and publicly guaranteed .. .. .. 33.6 15.3 84.3 -26.8 8.7 -29.9 11.2Official creditors .. .. .. 33.2 43.4 90.6 -25.0 -27.1 -16.5 32.1 Multilateral .. .. .. 42.6 56.4 13.3 -7.9 -23.4 -25.3 -30.8 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. -9.4 -13.1 77.3 -17.2 -3.6 8.8 62.9 Concessional .. .. .. 9.9 0.0 -0.1 -1.0 -1.3 -2.3 36.6Private creditors .. .. .. 0.3 -28.0 -6.4 -1.7 35.8 -13.4 -20.9 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 7.0 7.5 10.3 -7.4 18.5 -30.3 28.4 Other private .. .. .. -6.6 -35.5 -16.7 5.7 17.3 16.9 -49.2Private nonguaranteed .. .. .. 0.4 0.3 0.6 0.0 -0.1 0.3 0.3 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.4 0.3 0.6 0.0 -0.1 0.3 0.3Memo: IBRD .. .. .. 13.9 13.3 3.6 1.3 -8.8 -7.3 -9.8 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0

70BELARUS


INTEREST PAYMENTS (LINT) .. .. .. 37.5 52.4 40.5 40.4 37.7 46.0 33.8Public and publicly guaranteed .. .. .. 37.4 52.4 40.4 40.4 37.7 46.0 33.8Official creditors .. .. .. 17.4 22.6 25.9 24.7 18.2 27.8 16.6 Multilateral .. .. .. 13.0 17.3 18.9 19.2 16.6 14.2 10.6 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 4.4 5.3 6.9 5.5 1.6 13.6 5.9 Concessional .. .. .. 1.5 1.8 1.8 1.8 1.6 2.0 2.2Private creditors .. .. .. 20.0 29.9 14.6 15.7 19.4 18.2 17.2 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 2.0 2.3 1.9 2.2 4.8 2.7 2.7 Other private .. .. .. 18.0 27.6 12.7 13.5 14.7 15.5 14.5Private nonguaranteed .. .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. .. 7.9 7.7 7.7 8.2 6.1 5.0 5.0 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0

NET TRANSFERS ON DEBT .. .. .. -3.5 -36.8 44.5 -67.1 -29.0 -75.6 -22.3Public and publicly guaranteed .. .. .. -3.9 -37.1 43.9 -67.2 -28.9 -75.9 -22.5Official creditors .. .. .. 15.8 20.8 64.8 -49.7 -45.3 -44.3 15.5 Multilateral .. .. .. 29.6 39.2 -5.6 -27.1 -40.0 -39.5 -41.4 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. -13.8 -18.4 70.4 -22.6 -5.3 -4.8 56.9 Concessional .. .. .. 8.4 -1.8 -1.8 -2.7 -2.8 -4.3 34.5Private creditors .. .. .. -19.7 -57.9 -20.9 -17.5 16.4 -31.6 -38.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 5.0 5.2 8.4 -9.6 13.7 -32.9 25.7 Other private .. .. .. -24.6 -63.1 -29.4 -7.8 2.7 1.3 -63.7Private nonguaranteed .. .. .. 0.3 0.3 0.6 0.0 -0.1 0.3 0.3 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.3 0.3 0.6 0.0 -0.1 0.3 0.3Memo: IBRD .. .. .. 5.9 5.6 -4.1 -6.9 -14.9 -12.3 -14.8 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0

DEBT SERVICE (LTDS) .. .. .. 96.5 122.0 101.3 131.2 172.5 189.7 159.6Public and publicly guaranteed .. .. .. 96.4 121.8 100.9 130.7 172.0 189.3 159.4Official creditors .. .. .. 40.7 42.9 45.9 69.1 70.7 93.1 74.1 Multilateral .. .. .. 17.0 24.6 35.2 46.4 65.4 50.1 50.4 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 23.7 18.4 10.7 22.6 5.3 43.0 23.7 Concessional .. .. .. 1.5 1.8 1.9 2.7 2.8 4.3 5.8Private creditors .. .. .. 55.7 78.9 55.0 61.6 101.3 96.1 85.3 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 3.2 4.3 4.8 9.6 34.1 39.0 13.5 Other private .. .. .. 52.5 74.5 50.2 52.0 67.2 57.2 71.9Private nonguaranteed .. .. .. 0.1 0.1 0.4 0.5 0.6 0.4 0.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.1 0.1 0.4 0.5 0.6 0.4 0.1Memo: IBRD .. .. .. 7.9 7.7 7.7 19.4 20.4 18.7 18.7 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0

UNDISBURSED DEBT .. .. .. 218.0 247.8 180.5 165.2 109.0 152.3 52.6Official creditors .. .. .. 190.1 203.2 94.6 63.9 66.3 110.4 38.9Private creditors .. .. .. 27.9 44.6 85.9 101.3 42.7 41.9 13.7Memorandum items Concessional LDOD .. .. .. 85.8 85.8 85.7 84.7 83.5 81.1 117.8 Variable rate LDOD .. .. .. 503.2 451.0 530.3 451.2 408.0 383.2 474.5 Public sector LDOD .. .. .. 728.9 681.4 796.4 709.1 688.9 634.0 691.0 Private sector LDOD .. .. .. 0.8 1.1 1.8 1.3 1.2 9.8 19.7



71BELARUS



Total amount rescheduled .. .. .. 0.0 0.0 0.0 0.0 50.4 17.0 0.0 Debt stock rescheduled .. .. .. 0.0 0.0 0.0 0.0 49.2 6.7 0.0 Principal rescheduled .. .. .. 0.0 0.0 0.0 0.0 0.0 6.2 0.0 Official .. .. .. 0.0 0.0 0.0 0.0 0.0 6.2 0.0 Private .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest rescheduled .. .. .. 0.0 0.0 0.0 0.0 0.0 2.4 0.0 Official .. .. .. 0.0 0.0 0.0 0.0 0.0 2.4 0.0 Private .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Debt forgiven .. .. .. 553.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: interest forgiven .. .. .. 14.5 0.0 0.0 0.0 0.0 0.0 0.0Debt stock reduction .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which debt buyback .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0.0 -589.0 66.0 -17.6 -170.4 -135.5 22.7 37.4 Net flows on debt .. .. .. 35.1 152.3 -61.9 -105.7 -103.1 52.2 -19.3 Net change in interest arrears .. .. 0.0 -9.1 -6.7 3.3 2.6 4.9 -9.1 -3.8 Interest capitalized .. .. .. 0.0 0.0 0.0 0.0 0.0 2.4 0.0 Debt forgiveness or reduction .. .. 0.0 -553.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 0.0 -59.8 -81.0 42.4 -61.4 -25.5 -22.4 56.5 Residual .. .. 0.0 -2.2 1.4 -1.5 -5.9 -11.8 -0.4 4.0



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 137.3 14.0 12.0 8.9 7.0 4.7 3.1 1.9 1.0 0.0Principal 125.8 152.7 142.7 147.1 98.7 66.2 35.4 16.4 14.0 11.0Interest 33.8 24.6 19.2 14.1 9.4 6.1 4.2 3.1 2.7 2.4Official creditors Disbursements 89.6 5.1 8.5 7.6 7.0 4.7 3.1 1.9 1.0 0.0Principal 57.5 72.8 72.1 83.0 54.9 42.7 25.1 10.6 9.0 9.0Interest 16.6 14.2 11.5 9.0 6.7 4.8 3.5 2.6 2.4 2.1 Bilateral creditors Disbursements 80.6 2.9 4.9 3.5 2.5 1.5 0.8 0.5 0.3 0.0 Principal 17.7 39.3 38.6 52.0 31.1 21.8 6.8 5.0 5.0 5.0 Interest 5.9 5.6 4.7 4.0 3.2 2.6 2.2 2.0 1.9 1.7 Multilateral creditors Disbursements 9.0 2.2 3.6 4.1 4.5 3.2 2.3 1.4 0.7 0.0 Principal 39.8 33.5 33.5 31.0 23.8 20.9 18.4 5.6 3.9 3.9 Interest 10.6 8.6 6.8 4.9 3.5 2.2 1.3 0.6 0.5 0.4Private creditors Disbursements 47.3 8.9 3.4 1.4 0.0 0.0 0.0 0.0 0.0 0.0Principal 68.3 79.9 70.7 64.1 43.9 23.5 10.2 5.7 5.1 2.0Interest 17.2 10.4 7.7 5.1 2.7 1.3 0.8 0.5 0.3 0.3 Commercial banks Disbursements 39.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 10.8 17.6 16.9 12.6 9.1 5.8 0.6 0.0 0.0 0.0 Interest 2.7 1.8 1.2 0.7 0.3 0.1 0.0 0.0 0.0 0.0 Other private Disbursements 8.1 8.9 3.4 1.4 0.0 0.0 0.0 0.0 0.0 0.0 Principal 57.5 62.3 53.8 51.5 34.8 17.8 9.7 5.7 5.1 2.0 Interest 14.5 8.6 6.5 4.4 2.4 1.2 0.8 0.5 0.3 0.3

72BELIZE


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 4.1 63.0 153.8 281.5 450.1 333.5 392.0 606.6 699.6 834.6Long-term debt (LDOD) 4.1 47.0 147.3 250.4 268.1 282.9 341.0 556.6 648.8 789.6Public and publicly guaranteed 4.1 47.0 136.2 250.4 268.1 282.9 341.0 556.6 648.8 789.6Private nonguaranteed 0.0 0.0 11.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0Use of IMF credit 0.0 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 16.0 6.1 31.1 182.0 50.5 51.0 50.0 50.8 45.0of which interest arrears on LDOD 0.0 0.0 0.9 0.6 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.4 0.6 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: principal arrears on LDOD 0.0 0.0 2.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.8 0.6 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: export credits 0.0 0.0 30.0 38.2 34.0 2.1 3.4 3.5 3.7 4.5

TOTAL DEBT FLOWS Disbursements 4.3 13.7 22.2 60.5 48.8 38.7 96.8 218.1 158.9 227.7Long-term debt 4.3 13.7 22.2 60.5 48.8 38.7 96.8 218.1 158.9 227.7IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 0.0 0.6 12.9 27.3 25.5 25.0 24.5 41.2 47.9 138.5Long-term debt 0.0 0.6 9.9 27.3 25.5 25.0 24.5 41.2 47.9 138.5IMF repurchases 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt 4.3 -8.9 10.0 28.5 174.9 -117.8 72.7 176.0 111.8 83.4of which short-term debt 0.0 -22.0 0.8 -4.7 151.5 -131.5 0.5 -1.0 0.8 -5.8Interest payments (INT) 0.0 3.1 7.2 13.0 14.2 20.9 21.5 35.0 48.3 49.5Long-term debt 0.0 0.9 6.6 11.1 9.4 15.1 18.6 31.6 46.0 47.8IMF charges 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 2.2 0.4 1.9 4.9 5.8 2.8 3.4 2.3 1.7Net transfers on debt 4.3 -11.9 2.9 15.5 160.6 -138.7 51.3 141.0 63.5 33.8Total debt service paid (TDS) 0.0 3.6 20.1 40.3 39.7 46.0 46.0 76.1 96.3 188.0Long-term debt 0.0 1.5 16.5 38.4 34.8 40.1 43.2 72.8 93.9 186.4IMF repurchases and charges 0.0 0.0 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) 0.0 2.2 0.4 1.9 4.9 5.8 2.8 3.4 2.3 1.7


NET RESOURCE FLOWS 13.2 21.9 33.9 52.7 39.8 62.4 134.0 205.7 193.6 123.9Net flow of long-term debt (ex. IMF) 4.3 13.1 12.3 33.2 23.3 13.7 72.3 177.0 111.0 89.2Foreign direct investment (net) 7.1 0.0 17.2 16.6 12.0 17.7 47.4 17.7 59.9 25.0Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 1.8 8.8 4.4 2.9 4.5 31.1 14.4 11.0 22.7 9.7Memo: technical coop. grants 1.1 2.4 12.9 11.4 6.9 3.5 4.4 4.6 6.3 5.1 official net resource flows 6.1 16.2 11.0 29.7 19.4 38.5 17.3 20.4 42.1 23.0 private net resource flows 7.1 5.8 22.9 22.9 20.4 23.9 116.7 185.2 151.4 101.0

NET TRANSFERS 13.2 21.0 19.8 15.4 6.3 17.1 92.2 145.7 127.6 55.1Interest on long-term debt 0.0 0.9 6.6 11.1 9.4 15.1 18.6 31.6 46.0 47.8Profit remittances on FDI 0.0 0.0 7.5 26.2 24.1 30.2 23.2 28.4 20.0 21.0Memo: official net transfers 6.1 15.3 6.8 21.3 12.2 28.7 6.8 8.8 29.2 11.3 private net transfers 7.1 5.8 13.0 -6.0 -5.9 -11.6 85.4 136.9 98.4 43.8


Gross national income (GNI) 51.5 192.8 396.1 606.7 592.2 601.9 644.3 710.0 728.7 761.6Exports of goods, serv. & inc. (XGS) .. .. 268.9 328.6 356.5 352.8 398.8 411.2 477.1 515.3Worker remit. & comp. of employees 0.0 0.0 18.5 17.3 22.7 23.4 21.3 21.8 18.4 15.7Imports of goods & services (MGS) .. .. 269.2 353.2 405.4 429.2 492.2 582.3 693.7 710.2International reserves (RES) .. 12.7 69.8 58.4 59.4 44.1 71.3 122.9 112.0 114.5Current account balance .. .. 15.4 -6.6 -31.9 -59.8 -65.7 -131.0 -184.9 -162.7

4. DEBT INDICATORS

EDT / XGS (%) .. .. 57.2 85.7 126.3 94.5 98.3 147.5 146.6 162.0EDT / GNI (%) 7.9 32.7 38.8 46.4 76.0 55.4 60.8 85.4 96.0 109.6TDS / XGS (%) .. .. 7.5 12.3 11.1 13.0 11.5 18.5 20.2 36.5INT / XGS (%) .. .. 2.7 3.9 4.0 5.9 5.4 8.5 10.1 9.6INT / GNI (%) 0.0 1.6 1.8 2.1 2.4 3.5 3.3 4.9 6.6 6.5RES / EDT (%) .. 20.1 45.4 20.7 13.2 13.2 18.2 20.3 16.0 13.7RES / MGS (months) .. .. 3.1 2.0 1.8 1.2 1.7 2.5 1.9 1.9Short-term / EDT (%) .. 25.4 4.0 11.0 40.4 15.2 13.0 8.2 7.3 5.4Concessional / EDT (%) .. 48.7 52.6 41.7 25.0 32.6 26.1 17.9 15.1 13.3Multilateral / EDT (%) .. 35.7 37.3 31.9 23.3 35.6 32.4 22.9 23.6 22.2

73BELIZE


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 4.1 47.0 147.3 250.4 268.1 282.9 341.0 556.6 648.8 789.6Public and publicly guaranteed 4.1 47.0 136.2 250.4 268.1 282.9 341.0 556.6 648.8 789.6Official creditors 4.1 39.9 118.0 199.6 208.8 217.5 217.7 231.8 251.9 269.4 Multilateral 0.0 22.5 57.4 89.7 104.8 118.6 127.1 139.1 164.8 185.0 Concessional 0.0 19.6 30.0 40.5 38.5 38.2 36.7 39.7 40.3 43.3 Bilateral 4.1 17.4 60.6 109.9 104.0 98.9 90.6 92.7 87.1 84.4 Concessional 0.0 11.1 50.9 76.9 74.2 70.5 65.6 68.8 65.6 67.9Private creditors 0.0 7.1 18.2 50.8 59.2 65.5 123.3 324.8 396.8 520.2 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74.9 71.9 212.0 Commercial banks 0.0 0.0 16.4 47.9 47.7 55.3 113.3 231.3 302.8 286.5 Other private 0.0 7.1 1.8 2.9 11.5 10.2 10.1 18.6 22.1 21.7Private nonguaranteed 0.0 0.0 11.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 11.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 17.5 32.5 39.9 41.4 41.3 40.0 43.2 44.4 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

DISBURSEMENTS 4.3 13.7 22.2 60.5 48.8 38.7 96.8 218.1 158.9 227.7Public and publicly guaranteed 4.3 13.7 17.9 60.5 48.8 38.7 96.8 218.1 158.9 227.7Official creditors 4.3 7.9 13.2 45.0 31.8 24.7 20.5 28.9 37.7 34.4 Multilateral 0.0 4.6 5.8 10.0 26.5 19.0 18.2 22.3 32.9 26.5 Concessional 0.0 3.2 2.2 1.0 2.4 1.7 2.6 3.9 3.7 4.3 Bilateral 4.3 3.3 7.5 35.0 5.3 5.7 2.3 6.6 4.8 7.8 Concessional 0.0 0.7 4.6 30.4 1.8 0.8 1.4 3.9 3.7 7.8Private creditors 0.0 5.8 4.6 15.5 17.0 14.0 76.3 189.2 121.2 193.4 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86.0 0.0 143.0 Commercial banks 0.0 0.0 4.6 15.5 7.0 14.0 76.3 93.4 114.3 44.4 Other private 0.0 5.8 0.0 0.0 10.0 0.0 0.0 9.8 7.0 5.9Private nonguaranteed 0.0 0.0 4.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 4.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 3.4 7.5 12.6 4.0 3.2 2.3 6.6 5.3 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

PRINCIPAL REPAYMENTS 0.0 0.6 9.9 27.3 25.5 25.0 24.5 41.2 47.9 138.5Public and publicly guaranteed 0.0 0.6 9.0 27.3 25.5 25.0 24.5 41.2 47.9 138.5Official creditors 0.0 0.5 6.6 18.2 16.9 17.3 17.5 19.5 18.2 21.1 Multilateral 0.0 0.4 2.7 6.8 6.5 6.2 7.6 8.8 8.4 9.0 Concessional 0.0 0.3 1.5 3.0 2.8 2.5 2.7 3.3 2.9 2.9 Bilateral 0.0 0.1 3.9 11.3 10.4 11.1 9.9 10.7 9.9 12.1 Concessional 0.0 0.1 1.1 4.1 3.7 4.8 5.7 6.9 6.3 7.1Private creditors 0.0 0.1 2.4 9.1 8.6 7.8 7.0 21.6 29.7 117.4 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 3.1 2.9 Commercial banks 0.0 0.0 2.3 6.3 7.2 6.4 6.9 9.2 23.2 105.0 Other private 0.0 0.1 0.1 2.9 1.4 1.4 0.1 1.3 3.5 9.5Private nonguaranteed 0.0 0.0 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.6 2.3 2.3 2.7 3.2 3.6 3.4 4.1 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

NET FLOWS ON DEBT 4.3 13.1 12.3 33.2 23.3 13.7 72.3 177.0 111.0 89.2Public and publicly guaranteed 4.3 13.1 8.8 33.2 23.3 13.7 72.3 177.0 111.0 89.2Official creditors 4.3 7.4 6.6 26.8 14.9 7.4 3.0 9.4 19.4 13.2 Multilateral 0.0 4.2 3.0 3.2 20.0 12.8 10.6 13.5 24.5 17.5 Concessional 0.0 2.8 0.7 -2.0 -0.5 -0.8 -0.1 0.6 0.8 1.4 Bilateral 4.3 3.1 3.6 23.6 -5.1 -5.4 -7.6 -4.1 -5.1 -4.3 Concessional 0.0 0.7 3.5 26.2 -1.9 -4.0 -4.2 -3.0 -2.6 0.7Private creditors 0.0 5.8 2.2 6.3 8.4 6.2 69.3 167.5 91.5 76.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74.9 -3.1 140.1 Commercial banks 0.0 0.0 2.3 9.2 -0.1 7.6 69.4 84.2 91.1 -60.6 Other private 0.0 5.8 -0.1 -2.9 8.6 -1.4 -0.1 8.4 3.5 -3.6Private nonguaranteed 0.0 0.0 3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 2.8 5.2 10.3 1.3 -0.1 -1.3 3.3 1.2 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

74BELIZE


INTEREST PAYMENTS (LINT) 0.0 0.9 6.6 11.1 9.4 15.1 18.6 31.6 46.0 47.8Public and publicly guaranteed 0.0 0.9 5.6 11.1 9.4 15.1 18.6 31.6 46.0 47.8Official creditors 0.0 0.9 4.2 8.4 7.2 9.8 10.6 11.7 13.0 11.7 Multilateral 0.0 0.6 2.7 4.2 3.8 5.2 6.0 7.4 9.2 8.2 Concessional 0.0 0.5 1.0 1.1 0.8 0.8 0.8 1.0 0.9 0.7 Bilateral 0.0 0.3 1.5 4.2 3.3 4.6 4.6 4.3 3.8 3.5 Concessional 0.0 0.0 0.6 1.5 1.2 2.5 2.5 2.4 2.1 1.9Private creditors 0.0 0.0 1.4 2.7 2.2 5.3 8.1 19.9 33.0 36.2 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.3 8.3 7.9 Commercial banks 0.0 0.0 1.4 2.4 2.0 4.2 7.1 17.1 23.0 26.6 Other private 0.0 0.0 0.0 0.4 0.2 1.1 1.0 1.5 1.7 1.7Private nonguaranteed 0.0 0.0 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 1.1 2.0 2.1 2.4 3.1 3.4 3.4 2.9 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

NET TRANSFERS ON DEBT 4.3 12.2 5.7 22.1 14.0 -1.4 53.6 145.3 65.0 41.4Public and publicly guaranteed 4.3 12.2 3.2 22.1 14.0 -1.4 53.6 145.3 65.0 41.4Official creditors 4.3 6.5 2.4 18.5 7.7 -2.4 -7.6 -2.3 6.5 1.6 Multilateral 0.0 3.6 0.3 -1.0 16.2 7.6 4.6 6.1 15.3 9.3 Concessional 0.0 2.3 -0.4 -3.1 -1.3 -1.6 -0.9 -0.4 -0.1 0.6 Bilateral 4.3 2.9 2.1 19.5 -8.4 -10.0 -12.2 -8.4 -8.9 -7.8 Concessional 0.0 0.7 3.0 24.7 -3.0 -6.5 -6.8 -5.5 -4.7 -1.2Private creditors 0.0 5.8 0.8 3.6 6.2 0.9 61.2 147.6 58.5 39.8 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 73.6 -11.4 132.2 Commercial banks 0.0 0.0 1.0 6.8 -2.2 3.3 62.3 67.0 68.1 -87.2 Other private 0.0 5.8 -0.2 -3.2 8.4 -2.4 -1.1 7.0 1.8 -5.2Private nonguaranteed 0.0 0.0 2.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 2.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 1.7 3.2 8.2 -1.1 -3.1 -4.6 -0.1 -1.7 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

DEBT SERVICE (LTDS) 0.0 1.5 16.5 38.4 34.8 40.1 43.2 72.8 93.9 186.4Public and publicly guaranteed 0.0 1.5 14.6 38.4 34.8 40.1 43.2 72.8 93.9 186.4Official creditors 0.0 1.4 10.8 26.6 24.0 27.1 28.1 31.2 31.2 32.8 Multilateral 0.0 1.0 5.4 11.1 10.3 11.4 13.6 16.2 17.5 17.2 Concessional 0.0 0.9 2.5 4.1 3.6 3.3 3.5 4.3 3.8 3.6 Bilateral 0.0 0.4 5.4 15.5 13.7 15.7 14.5 15.0 13.7 15.6 Concessional 0.0 0.1 1.6 5.7 4.9 7.3 8.2 9.3 8.5 9.1Private creditors 0.0 0.1 3.8 11.9 10.8 13.1 15.1 41.6 62.7 153.6 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12.4 11.4 10.8 Commercial banks 0.0 0.0 3.7 8.6 9.2 10.7 14.0 26.4 46.2 131.6 Other private 0.0 0.1 0.2 3.2 1.6 2.4 1.1 2.8 5.2 11.2Private nonguaranteed 0.0 0.0 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 1.8 4.3 4.4 5.1 6.3 6.9 6.7 7.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

UNDISBURSED DEBT 0.0 22.7 60.9 78.7 73.5 97.5 219.8 246.1 190.8 132.3Official creditors 0.0 17.9 49.8 70.3 66.5 82.5 156.9 194.4 141.3 116.9Private creditors 0.0 4.8 11.1 8.3 7.0 15.0 62.9 51.7 49.5 15.5Memorandum items Concessional LDOD 0.0 30.7 80.9 117.4 112.7 108.7 102.3 108.4 105.9 111.1 Variable rate LDOD 0.0 0.0 38.6 57.2 61.4 61.9 62.2 99.6 116.6 127.6 Public sector LDOD 4.1 47.0 136.2 250.4 268.1 282.9 341.0 556.6 648.8 789.6 Private sector LDOD 0.0 0.0 11.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0



75BELIZE



Total amount rescheduled .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt stock rescheduled .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal rescheduled .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest rescheduled .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Debt forgiven .. .. 9.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: interest forgiven .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Debt stock reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 of which debt buyback .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 9.0 26.4 168.6 -116.6 58.6 214.6 93.0 135.0 Net flows on debt 4.3 -8.9 10.0 28.5 174.9 -117.8 72.7 176.0 111.8 83.4 Net change in interest arrears .. .. 0.3 0.1 -0.6 0.0 0.0 0.0 0.0 0.0 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -9.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 6.9 -1.5 -5.7 1.1 -2.7 -2.1 -1.2 6.4 Residual .. .. 0.9 -0.7 0.0 0.1 -11.5 40.7 -17.6 45.2

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 7.0 5.5 5.0 4.3 6.8 6.6 5.9 8.6 5.0 8.4 Maturity (years) 26.0 18.6 10.0 17.4 15.1 17.7 19.1 12.0 10.1 9.8 Grace period (years) 3.0 4.7 2.5 12.6 4.3 4.2 4.5 3.7 3.8 8.7 Grant element (%) 20.7 29.7 21.2 37.1 20.1 20.1 25.4 7.7 14.1 4.7Official creditors Interest (%) 7.0 4.4 5.0 5.2 5.0 6.4 6.3 6.3 5.8 6.1 Maturity (years) 26.0 26.0 10.0 20.7 17.7 22.1 21.7 21.1 20.6 19.6 Grace period (years) 3.0 6.8 2.5 15.4 5.3 4.9 4.9 5.3 5.2 4.2 Grant element (%) 20.7 43.8 21.2 38.7 31.8 23.9 24.4 24.0 27.0 23.4Private creditors Interest (%) 0.0 7.3 0.0 1.8 10.4 6.9 5.3 9.5 4.6 8.6 Maturity (years) 0.0 7.7 0.0 7.0 10.0 9.6 15.7 8.1 5.4 9.1 Grace period (years) 0.0 1.7 0.0 3.5 2.3 2.9 4.0 3.0 3.2 9.0 Grant element (%) 0.0 8.6 0.0 32.0 -2.6 13.2 26.7 0.7 8.3 3.3Memorandum items Commitments 4 12 5 50 47 63 170 224 112 171 Official creditors 4 7 5 38 31 41 96 68 34 12 Private creditors 0 5 0 12 16 22 74 156 77 159


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


76BENIN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 41 424 1,292 1,593 1,627 1,651 1,687 1,602 1,672 1,843Long-term debt (LDOD) 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690Public and publicly guaranteed 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 16 18 99 95 94 92 84 77 73Short-term debt 1 73 55 47 136 86 122 72 85 80of which interest arrears on LDOD 1 5 21 8 8 8 8 7 7 7 Official creditors 0 0 18 7 7 7 7 6 6 6 Private creditors 1 5 2 1 1 1 1 1 1 1Memo: principal arrears on LDOD 3 13 69 72 71 73 73 17 17 17 Official creditors 1 1 60 68 68 69 70 14 14 14 Private creditors 2 13 9 4 3 4 3 3 3 3Memo: export credits 0 0 303 152 125 141 126 116 102 142

TOTAL DEBT FLOWS Disbursements 2 71 120 128 57 62 83 39 124 72Long-term debt 2 62 120 109 51 62 73 30 113 67IMF purchases 0 9 0 20 6 0 10 9 10 5Principal repayments 1 6 20 27 32 35 45 51 32 37Long-term debt 1 6 19 26 28 29 36 41 23 27IMF repurchases 0 0 2 2 4 5 9 11 10 10Net flows on debt 1 42 92 101 114 -24 74 -60 105 30of which short-term debt 0 -24 -8 0 89 -50 36 -48 13 -5Interest payments (INT) 0 14 18 18 23 26 25 19 17 26Long-term debt 0 3 14 16 18 21 20 14 14 23IMF charges 0 0 0 1 0 0 0 0 0 0Short-term debt 0 11 4 2 4 5 5 4 3 3Net transfers on debt 1 27 74 82 91 -50 49 -79 88 4Total debt service paid (TDS) 2 20 38 46 55 61 70 70 50 63Long-term debt 2 9 33 42 46 50 56 55 37 50IMF repurchases and charges 0 0 2 3 5 6 9 11 10 10Short-term debt (interest only) 0 11 4 2 4 5 5 4 3 3


NET RESOURCE FLOWS 17 101 274 237 176 188 176 199 267 198Net flow of long-term debt (ex. IMF) 1 56 102 83 22 32 37 -10 91 39Foreign direct investment (net) 7 4 62 29 26 35 39 64 44 41Portfolio equity flows 0 0 0 3 2 1 2 0 0 0Grants (excluding technical coop.) 9 41 110 123 126 120 98 145 132 117Memo: technical coop. grants 6 26 49 67 78 67 65 68 62 68 official net resource flows 9 97 212 206 148 152 135 135 223 157 private net resource flows 8 4 62 31 28 36 41 64 44 41

NET TRANSFERS 17 96 260 219 147 155 148 182 245 167Interest on long-term debt 0 3 14 16 18 21 20 14 14 23Profit remittances on FDI 0 3 0 2 12 12 9 4 7 8Memo: official net transfers 9 95 198 190 130 131 115 121 209 134 private net transfers 8 1 62 29 17 24 33 61 36 33


Gross national income (GNI) 330 1,402 1,806 2,162 2,127 2,321 2,370 2,243 2,351 2,664Exports of goods, serv. & inc. (XGS) .. 318 465 765 631 671 696 637 628 655Worker remit. & comp. of employees 0 77 94 85 70 89 75 86 83 83Imports of goods & services (MGS) .. 428 492 799 794 805 890 748 788 ..International reserves (RES) 16 15 69 262 253 261 400 458 578 616Current account balance .. -36 -18 -41 -154 -133 -156 -81 -75 ..

4. DEBT INDICATORS

EDT / XGS (%) .. 133.1 277.9 208.3 257.8 246.1 242.5 251.5 266.2 281.5EDT / GNI (%) 12.6 30.2 71.5 73.7 76.5 71.1 71.2 71.4 71.1 69.2TDS / XGS (%) .. 6.3 8.2 6.0 8.7 9.1 10.1 11.0 7.9 9.7INT / XGS (%) .. 4.5 3.8 2.4 3.6 3.9 3.6 2.9 2.8 4.0INT / GNI (%) 0.1 1.0 1.0 0.8 1.1 1.1 1.1 0.8 0.7 1.0RES / EDT (%) 37.5 3.5 5.4 16.4 15.6 15.8 23.7 28.6 34.6 33.4RES / MGS (months) .. 0.4 1.7 3.9 3.8 3.9 5.4 7.3 8.8 ..Short-term / EDT (%) 2.1 17.3 4.3 2.9 8.4 5.2 7.2 4.5 5.1 4.4Concessional / EDT (%) 70.3 39.2 78.1 81.2 77.7 80.7 80.6 83.9 84.5 86.0Multilateral / EDT (%) 1.0 24.5 41.6 56.6 53.5 56.5 56.7 59.3 59.2 62.1

77BENIN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690Public and publicly guaranteed 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690Official creditors 29 217 1,202 1,443 1,393 1,468 1,470 1,443 1,507 1,686 Multilateral 0 104 537 902 871 933 957 950 989 1,145 Concessional 0 84 497 878 852 904 933 929 971 1,127 Bilateral 29 113 665 542 522 536 513 493 517 541 Concessional 29 82 512 415 413 429 426 414 441 458Private creditors 11 118 17 4 3 4 3 3 3 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 11 118 17 4 3 4 3 3 3 3Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 52 326 520 510 543 574 578 598 654

DISBURSEMENTS 2 62 120 109 51 62 73 30 113 67Public and publicly guaranteed 2 62 120 109 51 62 73 30 113 67Official creditors 1 58 120 109 51 62 73 30 113 67 Multilateral 0 24 91 81 42 45 73 29 97 60 Concessional 0 19 82 77 41 34 70 29 97 60 Bilateral 1 35 29 27 9 17 1 2 16 7 Concessional 1 16 29 27 9 17 1 2 16 7Private creditors 1 3 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 1 3 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 56 41 20 20 48 36 48 23

PRINCIPAL REPAYMENTS 1 6 19 26 28 29 36 41 23 27Public and publicly guaranteed 1 6 19 26 28 29 36 41 23 27Official creditors 1 2 18 26 28 29 36 41 23 27 Multilateral 0 1 18 16 18 18 20 15 15 18 Concessional 0 0 7 12 14 15 17 12 12 16 Bilateral 1 1 0 10 10 11 16 25 8 10 Concessional 1 1 0 3 4 5 5 22 8 9Private creditors 0 3 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 3 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 3 4 4 6 4 4 3

NET FLOWS ON DEBT 1 56 102 83 22 32 37 -10 91 39Public and publicly guaranteed 1 56 102 83 22 32 37 -10 91 39Official creditors 0 56 102 83 22 32 37 -10 91 39 Multilateral 0 23 73 65 24 27 52 13 82 42 Concessional 0 19 75 65 27 19 53 16 85 44 Bilateral 0 33 29 18 -2 5 -15 -24 9 -3 Concessional 0 15 29 25 4 12 -5 -20 9 -2Private creditors 1 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 1 0 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 55 37 16 16 43 33 44 20

78BENIN


INTEREST PAYMENTS (LINT) 0 3 14 16 18 21 20 14 14 23Public and publicly guaranteed 0 3 14 16 18 21 20 14 14 23Official creditors 0 2 14 16 18 21 20 14 14 23 Multilateral 0 1 13 9 10 10 10 9 8 12 Concessional 0 1 6 8 9 8 8 8 7 11 Bilateral 0 1 1 7 8 11 10 4 6 10 Concessional 0 0 1 2 3 4 4 3 4 6Private creditors 0 1 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 1 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 4 4 4 4 4 4 4

NET TRANSFERS ON DEBT 1 53 88 67 4 11 17 -24 77 17Public and publicly guaranteed 1 53 88 67 4 11 17 -24 77 17Official creditors 0 54 88 67 4 11 17 -24 77 17 Multilateral 0 21 60 56 14 17 42 4 74 30 Concessional 0 18 69 57 18 11 45 8 78 33 Bilateral 0 33 28 11 -9 -6 -25 -28 2 -13 Concessional 0 15 28 23 2 8 -9 -23 5 -8Private creditors 1 -1 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 1 -1 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 53 34 12 12 39 29 40 16

DEBT SERVICE (LTDS) 2 9 33 42 46 50 56 55 37 50Public and publicly guaranteed 2 9 33 42 46 50 56 55 37 50Official creditors 2 4 32 41 46 50 56 55 37 50 Multilateral 0 2 31 25 28 28 30 25 23 30 Concessional 0 1 13 19 23 23 25 20 19 27 Bilateral 2 2 1 16 18 22 26 30 14 20 Concessional 2 1 1 4 7 9 10 24 11 15Private creditors 0 4 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 4 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 7 7 8 10 8 8 7

UNDISBURSED DEBT 15 532 414 356 322 384 392 402 353 406Official creditors 15 154 414 356 322 384 392 402 353 405Private creditors 0 378 0 0 0 0 0 0 0 1Memorandum items Concessional LDOD 29 166 1,009 1,293 1,265 1,333 1,359 1,343 1,413 1,585 Variable rate LDOD 0 2 26 15 13 14 12 13 12 13 Public sector LDOD 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690 Private sector LDOD 0 0 0 0 0 0 0 0 0 0



79BENIN




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 50 -21 34 24 36 -85 70 172 Net flows on debt 1 42 92 101 114 -24 74 -60 105 30 Net change in interest arrears .. .. -8 0 0 0 0 -2 0 0 Interest capitalized .. .. 1 6 0 0 0 6 3 0 Debt forgiveness or reduction .. .. -122 -80 -1 0 0 -4 -10 -11 Cross-currency valuation .. .. 62 -99 -143 -38 -36 -53 -35 80 Residual .. .. 24 51 65 85 -3 28 7 73

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 1.8 8.3 1.3 1.1 1.7 2.0 2.1 1.6 0.9 0.9 Maturity (years) 32.0 11.7 39.2 35.1 22.5 32.6 30.2 36.0 40.2 39.3 Grace period (years) 7.0 3.7 8.4 9.2 6.4 8.6 8.1 8.3 12.8 9.5 Grant element (%) 59.9 8.9 72.0 74.1 56.0 64.6 62.8 68.5 78.6 76.9Official creditors Interest (%) 1.1 4.4 1.3 1.1 1.7 2.0 2.1 1.6 0.9 1.0 Maturity (years) 36.0 26.1 39.2 35.1 22.5 32.6 30.2 36.0 40.2 39.6 Grace period (years) 8.0 5.3 8.4 9.2 6.4 8.6 8.1 8.3 12.8 9.6 Grant element (%) 67.7 40.8 72.0 74.1 56.0 64.6 62.8 68.5 78.6 77.4Private creditors Interest (%) 6.0 8.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 7.5 9.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 Grace period (years) 0.5 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 Grant element (%) 11.7 4.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20.8Memorandum items Commitments 7 448 85 120 43 117 101 109 77 101 Official creditors 6 51 85 120 43 117 101 109 77 100 Private creditors 1 397 0 0 0 0 0 0 0 1


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


80BHUTAN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 83.5 113.0 119.6 171.0 183.8 203.3 265.2 376.9Long-term debt (LDOD) .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9Public and publicly guaranteed .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Use of IMF credit .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. .. 3.3 0.1 2.0 0.0 2.0 1.1 0.0 0.0of which interest arrears on LDOD .. .. 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors .. .. 0.3 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 0.0Memo: principal arrears on LDOD .. .. 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors .. .. 1.5 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 0.0Memo: export credits .. .. 17.0 38.2 14.8 7.3 2.8 2.6 0.8 0.6

TOTAL DEBT FLOWS Disbursements .. .. 8.4 15.2 16.8 60.3 8.3 34.8 79.5 97.8Long-term debt .. .. 8.4 15.2 16.8 60.3 8.3 34.8 79.5 97.8IMF purchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments .. .. 2.9 4.3 4.9 7.0 4.9 4.7 4.5 4.5Long-term debt .. .. 2.9 4.3 4.9 7.0 4.9 4.7 4.5 4.5IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt .. .. 6.5 11.0 13.8 51.3 5.4 29.1 73.9 93.3of which short-term debt .. .. 1.0 0.1 1.9 -2.0 2.0 -1.0 -1.1 0.0Interest payments (INT) .. .. 2.3 2.6 2.3 2.1 2.1 1.9 1.8 1.9Long-term debt .. .. 2.0 2.6 2.2 2.1 2.0 1.8 1.7 1.9IMF charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. .. 0.2 0.0 0.1 0.0 0.1 0.1 0.0 0.0Net transfers on debt .. .. 4.2 8.4 11.5 49.1 3.3 27.2 72.1 91.4Total debt service paid (TDS) .. .. 5.2 6.9 7.2 9.2 7.0 6.6 6.3 6.4Long-term debt .. .. 5.0 6.9 7.1 9.2 6.9 6.5 6.3 6.4IMF repurchases and charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) .. .. 0.2 0.0 0.1 0.0 0.1 0.1 0.0 0.0


NET RESOURCE FLOWS .. .. 24.0 38.7 46.9 81.9 41.5 50.6 105.2 125.8Net flow of long-term debt (ex. IMF) .. .. 5.5 10.9 11.9 53.3 3.4 30.1 74.9 93.3Foreign direct investment (net) .. .. 1.6 1.4 -0.7 0.3 0.3 -0.1 0.3 0.3Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. .. 16.9 26.4 35.7 28.3 37.8 20.6 30.0 32.2Memo: technical coop. grants .. .. 23.7 27.7 23.6 19.9 22.4 21.9 17.1 19.7 official net resource flows .. .. 25.0 39.6 49.9 83.9 41.2 50.7 104.9 125.5 private net resource flows .. .. -1.0 -0.9 -3.0 -2.0 0.3 -0.1 0.3 0.3

NET TRANSFERS .. .. 21.9 36.1 44.7 79.7 37.2 46.6 101.1 121.6Interest on long-term debt .. .. 2.0 2.6 2.2 2.1 2.0 1.8 1.7 1.9Profit remittances on FDI .. .. 0.0 0.0 0.0 0.0 2.3 2.2 2.4 2.3Memo: official net transfers .. .. 24.6 37.4 47.9 81.8 39.2 48.9 103.2 123.6 private net transfers .. .. -2.6 -1.3 -3.3 -2.1 -2.0 -2.3 -2.1 -2.0


Gross national income (GNI) .. .. 266.0 296.8 367.9 346.7 373.4 424.3 470.8 535.6Exports of goods, serv. & inc. (XGS) .. .. 94.9 120.8 121.2 128.0 130.4 139.7 148.8 138.6Worker remit. & comp. of employees .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. .. 122.9 163.8 183.3 177.2 192.8 258.4 272.7 262.7International reserves (RES) .. .. 86.0 184.0 181.2 249.6 274.4 295.4 284.6 320.6Current account balance .. .. -28.0 15.1 -11.2 16.8 13.2 -13.4 -40.0 -41.9

4. DEBT INDICATORS

EDT / XGS (%) .. .. 88.0 93.6 98.7 133.6 141.0 145.5 178.2 271.9EDT / GNI (%) .. .. 31.4 38.1 32.5 49.3 49.2 47.9 56.3 70.4TDS / XGS (%) .. .. 5.5 5.7 5.9 7.2 5.4 4.8 4.2 4.6INT / XGS (%) .. .. 2.4 2.2 1.9 1.7 1.6 1.4 1.2 1.4INT / GNI (%) .. .. 0.9 0.9 0.6 0.6 0.6 0.5 0.4 0.4RES / EDT (%) .. .. 103.0 162.8 151.5 145.9 149.3 145.3 107.3 85.1RES / MGS (months) .. .. 8.4 13.5 11.9 16.9 17.1 13.7 12.5 14.6Short-term / EDT (%) .. .. 3.9 0.1 1.7 0.0 1.1 0.5 0.0 0.0Concessional / EDT (%) .. .. 74.0 95.9 96.4 69.5 71.2 65.7 51.7 49.5Multilateral / EDT (%) .. .. 50.1 61.6 61.5 47.5 50.8 49.5 40.5 37.3

81BHUTAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9Public and publicly guaranteed .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9Official creditors .. .. 61.8 108.4 115.4 171.0 181.8 202.2 265.2 376.9 Multilateral .. .. 41.9 69.7 73.5 81.2 93.4 100.6 107.5 140.5 Concessional .. .. 41.9 69.7 73.5 81.2 93.4 100.6 107.5 140.5 Bilateral .. .. 19.9 38.8 41.8 89.8 88.4 101.6 157.6 236.4 Concessional .. .. 19.9 38.8 41.8 37.7 37.5 32.9 29.6 46.1Private creditors .. .. 18.5 4.5 2.3 0.0 0.0 0.0 0.0 0.0 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 Other private .. .. 18.5 4.5 2.3 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 16.1 22.8 22.5 23.9 24.1 26.1 30.7 38.5

DISBURSEMENTS .. .. 8.4 15.2 16.8 60.3 8.3 34.8 79.5 97.8Public and publicly guaranteed .. .. 8.4 15.2 16.8 60.3 8.3 34.8 79.5 97.8Official creditors .. .. 8.4 15.2 16.8 60.3 8.3 34.8 79.5 97.8 Multilateral .. .. 7.2 4.8 9.2 5.6 3.1 11.8 13.5 23.0 Concessional .. .. 7.2 4.8 9.2 5.6 3.1 11.8 13.5 23.0 Bilateral .. .. 1.2 10.3 7.5 54.7 5.2 23.0 66.0 74.9 Concessional .. .. 1.2 10.3 7.5 0.9 5.2 0.9 3.2 13.9Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 2.0 1.4 1.1 0.7 1.0 3.6 6.0 5.5

PRINCIPAL REPAYMENTS .. .. 2.9 4.3 4.9 7.0 4.9 4.7 4.5 4.5Public and publicly guaranteed .. .. 2.9 4.3 4.9 7.0 4.9 4.7 4.5 4.5Official creditors .. .. 0.3 2.0 2.6 4.8 4.9 4.7 4.5 4.5 Multilateral .. .. 0.0 0.8 0.9 1.0 1.3 1.3 1.2 1.2 Concessional .. .. 0.0 0.8 0.9 1.0 1.3 1.3 1.2 1.2 Bilateral .. .. 0.3 1.2 1.7 3.8 3.6 3.4 3.4 3.4 Concessional .. .. 0.3 1.2 1.7 3.8 3.6 3.4 3.4 3.4Private creditors .. .. 2.6 2.3 2.3 2.3 0.0 0.0 0.0 0.0 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 Other private .. .. 2.6 2.3 2.3 2.3 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.0 0.2 0.2 0.2 0.3 0.3 0.3 0.3

NET FLOWS ON DEBT .. .. 5.5 10.9 11.9 53.3 3.4 30.1 74.9 93.3Public and publicly guaranteed .. .. 5.5 10.9 11.9 53.3 3.4 30.1 74.9 93.3Official creditors .. .. 8.1 13.1 14.2 55.5 3.4 30.1 74.9 93.3 Multilateral .. .. 7.2 4.0 8.4 4.6 1.8 10.5 12.3 21.8 Concessional .. .. 7.2 4.0 8.4 4.6 1.8 10.5 12.3 21.8 Bilateral .. .. 0.9 9.1 5.8 50.9 1.6 19.6 62.6 71.5 Concessional .. .. 0.9 9.1 5.8 -2.9 1.6 -2.5 -0.1 10.5Private creditors .. .. -2.6 -2.3 -2.3 -2.3 0.0 0.0 0.0 0.0 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 Other private .. .. -2.6 -2.3 -2.3 -2.3 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 2.0 1.2 0.9 0.5 0.7 3.3 5.7 5.2

82BHUTAN


INTEREST PAYMENTS (LINT) .. .. 2.0 2.6 2.2 2.1 2.0 1.8 1.7 1.9Public and publicly guaranteed .. .. 2.0 2.6 2.2 2.1 2.0 1.8 1.7 1.9Official creditors .. .. 0.4 2.1 2.0 2.0 2.0 1.8 1.7 1.9 Multilateral .. .. 0.3 0.7 0.6 0.7 0.9 0.9 0.9 1.0 Concessional .. .. 0.3 0.7 0.6 0.7 0.9 0.9 0.9 1.0 Bilateral .. .. 0.1 1.5 1.3 1.3 1.1 0.9 0.8 0.9 Concessional .. .. 0.1 1.5 1.3 1.3 1.1 0.9 0.8 0.9Private creditors .. .. 1.6 0.5 0.3 0.1 0.0 0.0 0.0 0.0 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 Other private .. .. 1.6 0.5 0.3 0.1 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2

NET TRANSFERS ON DEBT .. .. 3.4 8.3 9.7 51.1 1.4 28.3 73.2 91.4Public and publicly guaranteed .. .. 3.4 8.3 9.7 51.1 1.4 28.3 73.2 91.4Official creditors .. .. 7.7 11.0 12.2 53.5 1.4 28.3 73.2 91.4 Multilateral .. .. 6.9 3.4 7.7 4.0 0.9 9.6 11.4 20.8 Concessional .. .. 6.9 3.4 7.7 4.0 0.9 9.6 11.4 20.8 Bilateral .. .. 0.8 7.6 4.5 49.5 0.5 18.7 61.8 70.6 Concessional .. .. 0.8 7.6 4.5 -4.3 0.5 -3.5 -1.0 9.6Private creditors .. .. -4.2 -2.7 -2.6 -2.4 0.0 0.0 0.0 0.0 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 Other private .. .. -4.2 -2.7 -2.6 -2.4 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 1.9 1.0 0.8 0.4 0.6 3.1 5.5 5.0

DEBT SERVICE (LTDS) .. .. 5.0 6.9 7.1 9.2 6.9 6.5 6.3 6.4Public and publicly guaranteed .. .. 5.0 6.9 7.1 9.2 6.9 6.5 6.3 6.4Official creditors .. .. 0.7 4.2 4.6 6.8 6.9 6.5 6.3 6.4 Multilateral .. .. 0.3 1.5 1.5 1.7 2.2 2.2 2.1 2.2 Concessional .. .. 0.3 1.5 1.5 1.7 2.2 2.2 2.1 2.2 Bilateral .. .. 0.4 2.7 3.1 5.1 4.8 4.3 4.2 4.2 Concessional .. .. 0.4 2.7 3.1 5.1 4.8 4.3 4.2 4.2Private creditors .. .. 4.2 2.7 2.6 2.4 0.0 0.0 0.0 0.0 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 Other private .. .. 4.2 2.7 2.6 2.4 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.1 0.3 0.3 0.4 0.4 0.4 0.4 0.5

UNDISBURSED DEBT .. .. 48.4 225.3 189.7 146.0 133.5 173.9 97.7 165.1Official creditors .. .. 48.4 225.3 189.7 146.0 133.5 173.9 97.7 165.1Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Concessional LDOD .. .. 61.8 108.4 115.4 118.9 130.8 133.5 137.1 186.6 Variable rate LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9 Private sector LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0



83BHUTAN




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 9.7 7.3 6.6 51.4 12.8 19.5 61.9 111.7 Net flows on debt .. .. 6.5 11.0 13.8 51.3 5.4 29.1 73.9 93.3 Net change in interest arrears .. .. 0.3 -0.6 0.0 0.0 0.0 0.0 0.0 0.0 Interest capitalized .. .. 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 1.1 -4.0 -7.9 0.0 -2.2 -10.6 -7.7 10.6 Residual .. .. 1.8 0.6 0.7 0.2 9.6 1.0 -4.3 7.8

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. 0.0 9.0 0.0 2.1 0.0 3.6 1.1 6.8 Maturity (years) .. .. 0.0 22.0 0.0 39.5 0.0 31.7 31.5 23.2 Grace period (years) .. .. 0.0 10.0 0.0 10.0 0.0 10.0 8.8 9.9 Grant element (%) .. .. 0.0 7.7 0.0 68.8 0.0 53.1 72.6 24.8Official creditors Interest (%) .. .. 0.0 9.0 0.0 2.1 0.0 3.6 1.1 6.8 Maturity (years) .. .. 0.0 22.0 0.0 39.5 0.0 31.7 31.5 23.2 Grace period (years) .. .. 0.0 10.0 0.0 10.0 0.0 10.0 8.8 9.9 Grant element (%) .. .. 0.0 7.7 0.0 68.8 0.0 53.1 72.6 24.8Private 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 Grant element (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments .. .. 0 159 0 28 0 85 8 175 Official creditors .. .. 0 159 0 28 0 85 8 175 Private creditors .. .. 0 0 0 0 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


84BOLIVIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 588 2,702 4,275 5,195 5,237 5,616 5,548 5,785 4,676 4,867Long-term debt (LDOD) 491 2,274 3,864 4,544 4,559 4,938 4,889 5,162 4,089 4,302Public and publicly guaranteed 480 2,182 3,687 4,259 4,133 4,296 4,246 4,136 3,110 3,378Private nonguaranteed 11 92 177 285 426 643 643 1,026 979 923Use of IMF credit 6 126 257 276 248 264 247 220 207 195Short-term debt 91 303 154 374 429 413 413 402 380 370of which interest arrears on LDOD 0 3 6 26 3 3 3 2 0 0 Official creditors 0 2 2 14 3 3 3 2 0 0 Private creditors 0 0 4 12 0 0 0 0 0 0Memo: principal arrears on LDOD 3 22 31 56 28 28 18 19 0 0 Official creditors 3 15 9 50 18 19 18 19 0 0 Private creditors 0 7 22 5 9 9 0 0 0 0Memo: export credits 0 0 794 581 495 266 223 202 128 64

TOTAL DEBT FLOWS Disbursements 58 553 331 497 666 492 442 758 569 497Long-term debt 58 457 300 448 643 446 419 743 545 497IMF purchases 0 96 31 49 23 46 23 15 24 0Principal repayments 19 145 241 230 263 268 288 454 361 361Long-term debt 19 145 196 198 229 233 265 434 340 344IMF repurchases 0 0 46 32 34 35 23 20 21 17Net flows on debt 39 180 32 329 480 208 154 293 189 126of which short-term debt 0 -228 -57 62 78 -16 0 -10 -20 -10Interest payments (INT) 7 220 144 183 212 165 130 180 184 115Long-term debt 7 173 117 163 189 143 108 159 168 99IMF charges 0 3 13 2 1 1 1 1 1 1Short-term debt 0 45 14 17 21 21 21 20 15 15Net transfers on debt 32 -40 -112 146 268 42 24 113 5 11Total debt service paid (TDS) 26 365 385 413 475 433 418 634 544 476Long-term debt 26 318 313 362 418 376 373 593 507 443IMF repurchases and charges 0 3 59 34 36 36 24 21 22 18Short-term debt (interest only) 0 45 14 17 21 21 21 20 15 15


NET RESOURCE FLOWS -34 451 334 1,116 1,444 1,395 1,370 1,266 1,262 1,421Net flow of long-term debt (ex. IMF) 39 312 104 250 414 213 153 309 205 153Foreign direct investment (net) -76 91 27 474 731 949 1,011 736 706 677Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 3 48 202 392 299 233 206 221 352 591Memo: technical coop. grants 9 41 108 195 199 185 193 150 232 213 official net resource flows 39 204 330 596 503 338 359 334 580 819 private net resource flows -73 247 3 519 941 1,058 1,011 932 682 601

NET TRANSFERS -41 258 200 912 1,174 1,171 1,120 959 927 1,141Interest on long-term debt 7 173 117 163 189 143 108 159 168 99Profit remittances on FDI 0 19 17 40 80 81 142 148 167 180Memo: official net transfers 35 161 230 448 355 202 258 223 483 752 private net transfers -77 97 -30 464 820 969 862 736 445 389


Gross national income (GNI) 1,256 2,784 4,626 7,233 7,730 8,335 8,089 8,165 7,814 7,599Exports of goods, serv. & inc. (XGS) .. 1,046 998 1,344 1,580 1,547 1,540 1,711 1,749 1,720Worker remit. & comp. of employees 0 1 4 11 85 88 96 127 135 113Imports of goods & services (MGS) .. 1,112 1,354 1,968 2,357 2,489 2,342 2,443 2,312 2,353International reserves (RES) 46 553 511 1,302 1,359 1,219 1,249 1,184 1,146 893Current account balance .. -6 -199 -380 -554 -666 -488 -446 -274 -347

4. DEBT INDICATORS


85BOLIVIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 491 2,274 3,864 4,544 4,559 4,938 4,889 5,162 4,089 4,302Public and publicly guaranteed 480 2,182 3,687 4,259 4,133 4,296 4,246 4,136 3,110 3,378Official creditors 275 1,110 3,362 4,223 4,100 4,258 4,221 4,103 3,096 3,360 Multilateral 26 447 1,589 2,640 2,680 2,690 2,777 2,803 2,925 3,164 Concessional 26 178 882 1,537 1,688 1,794 1,909 1,968 2,082 2,344 Bilateral 249 663 1,773 1,583 1,420 1,568 1,444 1,300 170 196 Concessional 239 487 1,006 1,397 1,279 1,422 1,281 1,150 151 182Private creditors 205 1,072 325 37 33 37 25 33 15 18 Bonds 67 73 35 17 9 9 0 0 0 0 Commercial banks 2 603 4 2 1 4 4 4 0 0 Other private 136 395 286 17 23 24 21 30 14 18Private nonguaranteed 11 92 177 285 426 643 643 1,026 979 923 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 11 92 177 285 426 643 643 1,026 979 923Memo: IBRD 0 175 194 61 37 26 13 0 0 0 IDA 18 64 393 843 930 1,045 1,097 1,096 1,146 1,321



NET FLOWS ON DEBT 39 312 104 250 414 213 153 309 205 153Public and publicly guaranteed 38 315 128 203 206 109 153 122 229 231Official creditors 36 156 128 204 204 105 153 113 229 228 Multilateral 0 101 87 149 200 61 143 119 207 208 Concessional 0 28 77 165 202 171 150 129 176 186 Bilateral 36 55 41 55 4 44 10 -7 22 20 Concessional 28 16 76 61 10 45 5 -1 21 25Private creditors 2 159 0 -2 2 4 -1 9 0 3 Bonds 0 -1 0 0 -3 0 0 0 0 0 Commercial banks -1 6 -2 -6 -2 4 0 0 -1 0 Other private 3 154 1 5 7 0 0 9 1 3Private nonguaranteed 1 -3 -24 47 208 104 1 187 -24 -78 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 -3 -24 47 208 104 1 187 -24 -78Memo: IBRD 0 70 -21 -25 -19 -13 -13 -12 0 0 IDA 2 1 47 97 132 85 82 61 101 96

86BOLIVIA



NET TRANSFERS ON DEBT 32 138 -13 86 225 71 45 150 37 54Public and publicly guaranteed 31 151 25 53 56 -27 50 10 130 164Official creditors 32 113 27 56 55 -30 52 2 131 161 Multilateral 0 79 18 45 100 -30 66 38 135 147 Concessional 0 25 66 147 182 150 136 114 166 174 Bilateral 33 34 9 11 -45 0 -14 -35 -4 14 Concessional 26 6 71 28 -31 8 -15 -24 -1 21Private creditors -1 38 -3 -3 1 3 -2 8 -1 3 Bonds -1 -4 0 0 -3 0 0 0 0 0 Commercial banks -1 -90 -2 -7 -2 4 -1 -1 -1 0 Other private 1 132 0 4 6 -1 -1 8 0 3Private nonguaranteed 0 -12 -38 33 168 98 -4 140 -93 -110 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 -12 -38 33 168 98 -4 140 -93 -110Memo: IBRD 0 60 -36 -32 -24 -15 -15 -13 0 0 IDA 2 1 45 92 126 79 82 60 100 89


UNDISBURSED DEBT 72 954 1,123 1,346 1,099 1,277 1,217 1,078 1,143 1,456Official creditors 66 804 1,107 1,332 1,087 1,247 1,193 1,069 1,133 1,448Private creditors 6 150 16 14 11 30 24 10 10 8Memorandum items Concessional LDOD 265 665 1,888 2,934 2,967 3,215 3,190 3,118 2,234 2,526 Variable rate LDOD 11 719 918 752 888 1,079 1,048 1,438 1,346 1,340 Public sector LDOD 467 2,166 3,687 4,259 4,133 4,296 3,839 3,756 3,064 3,324 Private sector LDOD 24 107 177 285 426 643 1,050 1,407 1,025 978



87BOLIVIA



Total amount rescheduled .. .. 153 433 301 0 550 0 0 3 Debt stock rescheduled .. .. 0 0 0 0 532 0 0 0 Principal rescheduled .. .. 81 427 300 0 3 0 0 0 Official .. .. 69 420 300 0 3 0 0 0 Private .. .. 12 7 0 0 0 0 0 0 Interest rescheduled .. .. 63 4 0 0 0 0 0 0 Official .. .. 59 4 0 0 0 0 0 0 Private .. .. 3 0 0 0 0 0 0 0Debt forgiven .. .. 92 181 83 18 34 28 100 41 Memo: interest forgiven .. .. 60 0 12 1 8 8 18 13Debt stock reduction .. .. 20 0 0 94 102 18 1,064 61 of which debt buyback .. .. 4 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 143 -80 42 379 -67 236 -1,108 191 Net flows on debt 39 180 32 329 480 208 154 293 189 126 Net change in interest arrears .. .. -44 5 -22 0 0 0 -2 0 Interest capitalized .. .. 63 4 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -109 -181 -83 -111 -136 -46 -1,163 -101 Cross-currency valuation .. .. 114 -393 -418 -3 -41 -212 -193 121 Residual .. .. 86 156 84 286 -43 202 62 45

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 1.9 8.4 4.2 1.8 4.8 1.7 2.0 4.2 3.3 4.3 Maturity (years) 47.7 15.5 29.2 31.7 20.2 34.7 34.7 28.4 23.2 20.9 Grace period (years) 4.0 4.5 7.9 8.7 5.7 9.5 9.1 7.8 6.0 5.4 Grant element (%) 66.6 13.0 47.8 63.1 36.2 68.9 67.2 47.9 46.2 38.4Official creditors Interest (%) 1.8 8.1 4.1 1.8 4.8 1.7 2.0 4.2 3.3 4.3 Maturity (years) 48.2 21.5 29.5 32.5 20.7 35.9 35.8 28.4 23.3 20.9 Grace period (years) 4.0 5.3 7.9 9.0 5.8 9.7 9.3 7.8 6.1 5.4 Grant element (%) 67.4 20.4 48.4 64.3 37.1 70.0 68.0 47.9 46.5 38.4Private creditors Interest (%) 12.0 8.7 9.4 0.3 5.5 1.1 0.8 0.0 5.9 0.0 Maturity (years) 5.5 10.1 5.8 6.9 6.0 12.4 10.0 0.0 5.6 0.0 Grace period (years) 3.5 3.9 1.5 0.6 1.3 5.3 5.9 0.0 1.1 0.0 Grant element (%) -6.9 6.4 1.0 27.7 12.6 50.1 48.8 0.0 10.6 0.0Memorandum items Commitments 24 370 549 291 174 479 319 180 542 725 Official creditors 24 176 542 281 168 454 306 180 537 725 Private creditors 0 194 7 9 6 25 13 0 4 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


88BOSNIA AND HERZEGOVINA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. .. .. .. 2,661 2,383 2,225 2,515Long-term debt (LDOD) .. .. .. .. .. .. 2,528 2,229 2,054 2,303Public and publicly guaranteed .. .. .. .. .. .. 2,525 2,222 2,043 2,282Private nonguaranteed .. .. .. .. .. .. 3 7 11 21Use of IMF credit .. .. .. 45 41 77 94 105 111 139Short-term debt .. .. .. 73 57 119 40 49 60 73of which interest arrears on LDOD .. .. .. .. .. .. 2 1 0 2 Official creditors .. .. .. .. .. .. 2 1 0 2 Private creditors .. .. .. .. .. .. 0 0 0 0Memo: principal arrears on LDOD .. .. .. .. .. .. 30 2 0 0 Official creditors .. .. .. .. .. .. 4 2 0 0 Private creditors .. .. .. .. .. .. 26 0 0 0Memo: export credits .. .. .. 245 234 128 177 163 246 289

TOTAL DEBT FLOWS Disbursements .. .. .. .. .. .. 160 120 112 191Long-term debt .. .. .. .. .. .. 120 84 94 150IMF purchases .. .. .. 0 0 33 40 36 18 41Principal repayments .. .. .. .. .. .. 25 191 207 95Long-term debt .. .. .. .. .. .. 4 171 199 73IMF repurchases .. .. .. 2 1 0 21 20 8 23Net flows on debt .. .. .. .. .. .. 91 -60 -83 107of which short-term debt .. .. .. .. .. .. -44 11 12 11Interest payments (INT) .. .. .. .. .. .. 166 134 92 63Long-term debt .. .. .. .. .. .. 160 126 84 57IMF charges .. .. .. 2 2 3 3 5 5 3Short-term debt .. .. .. .. .. .. 3 3 3 3Net transfers on debt .. .. .. .. .. .. -75 -193 -176 44Total debt service paid (TDS) .. .. .. .. .. .. 191 325 299 158Long-term debt .. .. .. .. .. .. 163 297 283 129IMF repurchases and charges .. .. .. 4 3 3 24 25 13 26Short-term debt (interest only) .. .. .. .. .. .. 3 3 3 3


NET RESOURCE FLOWS .. .. .. .. .. .. 1,115 630 451 676Net flow of long-term debt (ex. IMF) .. .. .. .. .. .. 116 -86 -105 77Foreign direct investment (net) .. .. .. .. .. .. 177 146 125 293Portfolio equity flows .. .. .. .. .. .. 0 0 0 0Grants (excluding technical coop.) .. .. .. 636 701 499 822 570 431 305Memo: technical coop. grants .. .. .. 93 86 243 105 103 123 123 official net resource flows .. .. .. .. .. .. 938 480 322 377 private net resource flows .. .. .. .. .. .. 177 150 129 299

NET TRANSFERS .. .. .. .. .. .. 955 504 367 619Interest on long-term debt .. .. .. .. .. .. 160 126 84 57Profit remittances on FDI .. .. .. .. .. .. 0 0 0 0Memo: official net transfers .. .. .. .. .. .. 802 394 259 333 private net transfers .. .. .. .. .. .. 153 110 108 286


Gross national income (GNI) .. .. .. 2,519 3,299 4,626 4,964 4,774 5,264 5,847Exports of goods, serv. & inc. (XGS) .. .. .. .. .. 2,201 2,291 2,417 2,368 2,275Worker remit. & comp. of employees .. .. .. 0 0 1,163 1,096 900 861 807Imports of goods & services (MGS) .. .. .. .. .. 4,029 4,410 4,060 4,361 4,834International reserves (RES) .. .. .. .. 80 175 452 497 1,221 1,321Current account balance .. .. .. .. .. -1,161 -1,459 -1,192 -1,563 -2,139

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. .. .. 119.7 116.2 98.6 94.0 110.5EDT / GNI (%) .. .. .. 32.7 57.4 57.0 53.6 49.9 42.3 43.0TDS / XGS (%) .. .. .. .. .. 3.1 8.3 13.4 12.6 7.0INT / XGS (%) .. .. .. .. .. 3.1 7.2 5.5 3.9 2.8INT / GNI (%) .. .. .. 7.4 1.3 1.5 3.3 2.8 1.7 1.1RES / EDT (%) .. .. .. .. 4.2 6.6 17.0 20.8 54.9 52.5RES / MGS (months) .. .. .. .. .. 0.5 1.2 1.5 3.4 3.3Short-term / EDT (%) .. .. .. 8.9 3.0 4.5 1.5 2.1 2.7 2.9Concessional / EDT (%) .. .. .. 14.1 9.5 13.0 32.1 36.5 40.1 43.5Multilateral / EDT (%) .. .. .. 85.7 39.1 51.5 53.0 52.5 49.5 49.4



5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. .. .. .. 2,528 2,229 2,054 2,303Public and publicly guaranteed .. .. .. .. .. .. 2,525 2,222 2,043 2,282Official creditors .. .. .. .. .. .. 1,955 1,765 1,592 1,809 Multilateral .. .. .. .. .. .. 1,410 1,250 1,102 1,241 Concessional .. .. .. .. .. .. 419 455 497 639 Bilateral .. .. .. .. .. .. 544 515 490 568 Concessional .. .. .. .. .. .. 436 413 394 456Private creditors .. .. .. .. .. .. 570 458 451 473 Bonds .. .. .. .. .. .. 333 333 333 333 Commercial banks .. .. .. .. .. .. 135 125 118 140 Other private .. .. .. .. .. .. 103 0 0 0Private nonguaranteed .. .. .. .. .. .. 3 7 11 21 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 3 7 11 21Memo: IBRD .. .. .. 589 566 581 578 562 540 538 IDA .. .. .. 109 167 312 373 398 443 578

DISBURSEMENTS .. .. .. .. .. .. 120 84 94 150Public and publicly guaranteed .. .. .. .. .. .. 120 80 81 131Official creditors .. .. .. .. .. .. 120 80 81 131 Multilateral .. .. .. .. .. .. 118 75 80 104 Concessional .. .. .. .. .. .. 105 57 62 98 Bilateral .. .. .. .. .. .. 2 5 1 27 Concessional .. .. .. .. .. .. 2 5 1 15Private creditors .. .. .. .. .. .. 0 0 0 0 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. .. .. 0 0 0 0 Other private .. .. .. .. .. .. 0 0 0 0Private nonguaranteed .. .. .. .. .. .. 0 5 13 19 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 5 13 19Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 110 65 135 68 44 62 97

PRINCIPAL REPAYMENTS .. .. .. .. .. .. 4 171 199 73Public and publicly guaranteed .. .. .. .. .. .. 4 170 190 60Official creditors .. .. .. .. .. .. 4 170 190 60 Multilateral .. .. .. .. .. .. 4 166 185 37 Concessional .. .. .. .. .. .. 0 0 1 2 Bilateral .. .. .. .. .. .. 0 4 5 22 Concessional .. .. .. .. .. .. 0 4 5 9Private creditors .. .. .. .. .. .. 0 0 0 0 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. .. .. 0 0 0 0 Other private .. .. .. .. .. .. 0 0 0 0Private nonguaranteed .. .. .. .. .. .. 0 1 9 13 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 1 9 13Memo: IBRD .. .. .. 25 0 0 0 0 5 23 IDA .. .. .. 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. .. .. .. 116 -86 -105 77Public and publicly guaranteed .. .. .. .. .. .. 116 -90 -109 71Official creditors .. .. .. .. .. .. 116 -90 -109 71 Multilateral .. .. .. .. .. .. 114 -92 -106 67 Concessional .. .. .. .. .. .. 104 57 60 97 Bilateral .. .. .. .. .. .. 2 1 -3 5 Concessional .. .. .. .. .. .. 2 1 -3 6Private creditors .. .. .. .. .. .. 0 0 0 0 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. .. .. 0 0 0 0 Other private .. .. .. .. .. .. 0 0 0 0Private nonguaranteed .. .. .. .. .. .. 0 4 4 6 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 4 4 6Memo: IBRD .. .. .. -25 0 0 0 0 -5 -23 IDA .. .. .. 110 65 135 68 44 62 97



INTEREST PAYMENTS (LINT) .. .. .. .. .. .. 160 126 84 57Public and publicly guaranteed .. .. .. .. .. .. 159 125 83 56Official creditors .. .. .. .. .. .. 136 86 63 43 Multilateral .. .. .. .. .. .. 131 74 53 29 Concessional .. .. .. .. .. .. 3 4 4 5 Bilateral .. .. .. .. .. .. 5 13 10 14 Concessional .. .. .. .. .. .. 2 8 7 9Private creditors .. .. .. .. .. .. 23 39 20 13 Bonds .. .. .. .. .. .. 20 37 18 9 Commercial banks .. .. .. .. .. .. 3 2 2 4 Other private .. .. .. .. .. .. 0 0 0 0Private nonguaranteed .. .. .. .. .. .. 0 0 1 1 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 0 1 1Memo: IBRD .. .. .. 180 36 35 34 33 31 22 IDA .. .. .. 0 1 1 2 3 3 4

NET TRANSFERS ON DEBT .. .. .. .. .. .. -43 -212 -189 20Public and publicly guaranteed .. .. .. .. .. .. -43 -216 -192 15Official creditors .. .. .. .. .. .. -20 -176 -172 28 Multilateral .. .. .. .. .. .. -17 -165 -159 38 Concessional .. .. .. .. .. .. 101 53 56 92 Bilateral .. .. .. .. .. .. -3 -11 -13 -9 Concessional .. .. .. .. .. .. 0 -7 -10 -3Private creditors .. .. .. .. .. .. -23 -39 -20 -13 Bonds .. .. .. .. .. .. -20 -37 -18 -9 Commercial banks .. .. .. .. .. .. -3 -2 -2 -4 Other private .. .. .. .. .. .. 0 0 0 0Private nonguaranteed .. .. .. .. .. .. 0 3 3 5 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 3 3 5Memo: IBRD .. .. .. -205 -36 -35 -34 -33 -36 -45 IDA .. .. .. 110 64 133 66 41 59 93

DEBT SERVICE (LTDS) .. .. .. .. .. .. 163 297 283 129Public and publicly guaranteed .. .. .. .. .. .. 163 295 273 116Official creditors .. .. .. .. .. .. 140 256 253 103 Multilateral .. .. .. .. .. .. 135 240 239 67 Concessional .. .. .. .. .. .. 3 4 6 6 Bilateral .. .. .. .. .. .. 5 16 15 37 Concessional .. .. .. .. .. .. 2 12 12 18Private creditors .. .. .. .. .. .. 23 39 20 13 Bonds .. .. .. .. .. .. 20 37 18 9 Commercial banks .. .. .. .. .. .. 3 2 2 4 Other private .. .. .. .. .. .. 0 0 0 0Private nonguaranteed .. .. .. .. .. .. 0 1 10 13 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 1 10 13Memo: IBRD .. .. .. 205 36 35 34 33 36 45 IDA .. .. .. 0 1 1 2 3 3 4

UNDISBURSED DEBT .. .. .. .. .. .. 366 308 410 418Official creditors .. .. .. .. .. .. 366 308 410 418Private creditors .. .. .. .. .. .. 0 0 0 0Memorandum items Concessional LDOD .. .. .. .. .. .. 855 869 892 1,095 Variable rate LDOD .. .. .. .. .. .. 1,180 1,068 1,060 1,090 Public sector LDOD .. .. .. .. .. .. 2,525 2,222 2,043 2,282 Private sector LDOD .. .. .. .. .. .. 3 7 11 21


Euro .. .. .. .. .. .. .. .. 26.2 27.7Deutsche mark .. .. .. .. .. .. 9.2 10.2 .. ..French franc .. .. .. .. .. .. 0.0 0.0 .. ..Japanese yen .. .. .. .. .. .. 0.0 0.0 0.0 0.1Pound sterling .. .. .. .. .. .. 0.0 0.0 0.0 0.0Swiss franc .. .. .. .. .. .. 1.4 1.5 1.6 1.6U.S.dollars .. .. .. .. .. .. 36.4 38.0 44.1 45.3Multiple currency .. .. .. .. .. .. 23.1 25.5 26.7 23.8Special drawing rights .. .. .. .. .. .. 0.0 0.0 0.0 0.1All other currencies .. .. .. .. .. .. 29.8 24.7 1.4 1.3




Total amount rescheduled .. .. .. .. .. .. 566 4 0 0 Debt stock rescheduled .. .. .. .. .. .. 0 0 0 0 Principal rescheduled .. .. .. .. .. .. 468 2 0 0 Official .. .. .. .. .. .. 0 0 0 0 Private .. .. .. .. .. .. 468 2 0 0 Interest rescheduled .. .. .. .. .. .. 97 1 0 0 Official .. .. .. .. .. .. 0 0 0 0 Private .. .. .. .. .. .. 97 1 0 0Debt forgiven .. .. .. .. .. .. 0 0 0 0 Memo: interest forgiven .. .. .. .. .. .. 0 0 0 0Debt stock reduction .. .. .. .. .. .. 0 0 0 0 of which debt buyback .. .. .. .. .. .. 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. .. .. .. .. 27 -278 -158 290 Net flows on debt .. .. .. .. .. .. 91 -60 -83 107 Net change in interest arrears .. .. .. .. .. .. -35 -1 -1 2 Interest capitalized .. .. .. .. .. .. 97 1 0 0 Debt forgiveness or reduction .. .. .. .. .. .. 0 0 0 0 Cross-currency valuation .. .. .. .. .. .. -96 -113 -76 178 Residual .. .. .. .. .. .. -30 -105 3 4

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. .. .. .. 1.2 0.8 2.0 0.8 Maturity (years) .. .. .. .. .. .. 32.1 34.6 29.5 34.6 Grace period (years) .. .. .. .. .. .. 9.5 10.1 8.2 9.9 Grant element (%) .. .. .. .. .. .. 72.2 78.6 64.0 78.3Official creditors Interest (%) .. .. .. .. .. .. 1.2 0.8 2.0 0.8 Maturity (years) .. .. .. .. .. .. 32.1 34.6 29.5 34.6 Grace period (years) .. .. .. .. .. .. 9.5 10.1 8.2 9.9 Grant element (%) .. .. .. .. .. .. 72.2 78.6 64.0 78.3Private creditors Interest (%) .. .. .. .. .. .. 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. .. .. .. 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. .. .. .. 0.0 0.0 0.0 0.0 Grant element (%) .. .. .. .. .. .. 0.0 0.0 0.0 0.0Memorandum items Commitments .. .. .. .. .. .. 238 38 199 105 Official creditors .. .. .. .. .. .. 238 38 199 105 Private creditors .. .. .. .. .. .. 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


92BOTSWANA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 5.7 27.2 27.0 27.2 21.2 22.5 21.9 28.0 7.4 1.8Long-term debt 5.7 27.2 27.0 27.2 21.2 22.5 21.9 28.0 7.4 1.8IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 0.2 6.0 66.5 72.8 74.1 53.0 52.3 52.1 39.3 44.5Long-term debt 0.2 6.0 66.5 72.8 74.1 53.0 52.3 52.1 39.3 44.5IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt 5.6 8.3 -39.4 -43.5 -18.9 -63.1 -18.2 -28.4 -26.6 -47.3of which short-term debt 0.0 -13.0 0.1 2.0 34.0 -32.6 12.3 -4.3 5.2 -4.6Interest payments (INT) 0.4 8.2 38.8 78.3 29.1 23.2 21.5 16.4 12.5 15.5Long-term debt 0.4 6.7 38.6 78.0 27.7 22.8 20.7 15.2 11.9 15.2IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 1.5 0.2 0.3 1.4 0.4 0.8 1.2 0.7 0.3Net transfers on debt 5.1 0.1 -78.2 -121.9 -47.9 -86.3 -39.6 -44.8 -39.1 -62.8Total debt service paid (TDS) 0.6 14.1 105.3 151.1 103.2 76.3 73.8 68.5 51.8 60.0Long-term debt 0.6 12.6 105.1 150.8 101.8 75.8 73.0 67.4 51.1 59.6IMF repurchases and charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) 0.0 1.5 0.2 0.3 1.4 0.4 0.8 1.2 0.7 0.3


NET RESOURCE FLOWS 14.9 183.5 134.9 84.4 99.3 95.8 31.5 48.4 10.2 6.1Net flow of long-term debt (ex. IMF) 5.6 21.3 -39.5 -45.6 -52.9 -30.5 -30.4 -24.1 -31.9 -42.7Foreign direct investment (net) 0.0 111.6 95.9 71.2 100.1 95.3 36.7 54.4 25.6 36.8Portfolio equity flows 0.0 0.0 0.0 28.7 10.8 -14.1 -7.5 0.0 0.0 0.0Grants (excluding technical coop.) 9.3 50.6 78.4 30.0 41.2 45.2 32.8 18.1 16.5 12.0Memo: technical coop. grants 2.7 47.5 59.1 37.0 41.0 31.8 27.3 18.2 17.9 38.7 official net resource flows 12.0 69.0 57.4 -6.9 -6.7 19.1 -7.5 -2.9 -13.2 -28.4 private net resource flows 2.9 114.4 77.4 91.3 105.9 76.7 39.0 51.3 23.4 34.6

NET TRANSFERS 14.4 69.2 -310.7 -650.2 -597.7 -334.4 -596.2 -581.8 -561.6 -614.0Interest on long-term debt 0.4 6.7 38.6 78.0 27.7 22.8 20.7 15.2 11.9 15.2Profit remittances on FDI 0.0 107.6 406.9 656.5 669.3 407.4 607.0 615.0 560.0 605.0Memo: official net transfers 11.5 63.3 21.8 -76.5 -32.0 -2.2 -26.4 -16.8 -24.5 -43.3 private net transfers 2.9 5.9 -332.5 -573.7 -565.8 -332.2 -569.8 -565.0 -537.1 -570.8


Gross national income (GNI) 101.0 1,028.0 3,684.7 4,549.9 5,046.1 5,052.6 4,806.9 5,010.2 5,114.0 4,997.0Exports of goods, serv. & inc. (XGS) .. 747.5 2,421.1 2,890.5 3,652.1 2,939.0 3,473.6 3,395.5 3,051.1 ..Worker remit. & comp. of employees 0.0 68.0 81.3 43.3 40.9 36.3 26.4 26.4 26.4 26.4Imports of goods & services (MGS) .. 953.5 2,508.9 2,566.1 3,132.0 3,008.7 3,208.4 3,166.7 2,735.5 ..International reserves (RES) .. 334.0 3,331.5 5,027.7 5,675.0 5,940.7 6,298.7 6,318.2 5,897.3 5,473.9Current account balance .. -151.1 -19.3 495.0 721.5 170.1 516.8 445.5 513.9 ..

4. DEBT INDICATORS

EDT / XGS (%) .. 18.1 22.8 21.7 15.7 18.1 14.5 13.3 13.1 ..EDT / GNI (%) 17.2 13.2 15.0 13.8 11.4 10.5 10.5 9.0 7.8 9.6TDS / XGS (%) .. 1.9 4.3 5.2 2.8 2.6 2.1 2.0 1.7 ..INT / XGS (%) .. 1.1 1.6 2.7 0.8 0.8 0.6 0.5 0.4 ..INT / GNI (%) 0.4 0.8 1.1 1.7 0.6 0.5 0.4 0.3 0.2 0.3RES / EDT (%) .. 246.3 602.5 802.5 987.4 1,116.3 1,249.2 1,394.3 1,476.1 1,140.7RES / MGS (months) .. 4.2 15.9 23.5 21.7 23.7 23.6 23.9 25.9 ..Short-term / EDT (%) 0.0 2.9 1.0 1.0 7.0 1.4 3.9 3.4 5.2 3.3Concessional / EDT (%) 64.3 43.8 32.9 53.5 52.6 58.4 59.1 63.9 66.9 61.6Multilateral / EDT (%) 30.0 62.1 70.0 71.6 69.2 72.8 66.9 65.6 65.1 66.1

93BOTSWANA


5. LONG-TERM DEBT




NET FLOWS ON DEBT 5.6 21.3 -39.5 -45.6 -52.9 -30.5 -30.4 -24.1 -31.9 -42.7Public and publicly guaranteed 5.6 21.3 -39.5 -45.6 -52.9 -30.5 -30.4 -24.1 -31.9 -42.7Official creditors 2.7 18.5 -21.0 -37.0 -47.9 -26.1 -40.3 -21.0 -29.6 -40.4 Multilateral 1.6 9.8 -16.1 -23.9 -27.1 -23.5 -35.9 -25.3 -23.4 -29.9 Concessional 1.6 5.7 8.7 4.0 0.3 -3.5 -8.2 -2.1 -4.5 -8.2 Bilateral 1.1 8.6 -4.9 -13.1 -20.8 -2.5 -4.4 4.3 -6.3 -10.5 Concessional 1.2 2.7 0.5 -4.3 -17.1 1.0 -1.6 6.2 -4.5 -10.1Private creditors 2.9 2.8 -18.5 -8.6 -5.0 -4.5 9.8 -3.1 -2.2 -2.2 Bonds 2.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 -0.2 -4.3 -4.5 -4.4 10.0 -3.0 -2.1 -2.1 Other private 0.3 2.8 -18.3 -4.3 -0.5 0.0 -0.2 -0.1 -0.1 -0.1Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 4.3 -11.9 -20.9 -16.5 -12.9 -11.2 -7.4 -4.5 -3.5 IDA 1.6 0.0 -0.3 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5

94BOTSWANA



NET TRANSFERS ON DEBT 5.1 14.6 -78.1 -123.6 -80.6 -53.3 -51.2 -39.3 -43.7 -57.8Public and publicly guaranteed 5.1 14.6 -78.1 -123.6 -80.6 -53.3 -51.2 -39.3 -43.7 -57.8Official creditors 2.2 12.8 -56.6 -106.5 -73.2 -47.3 -59.2 -34.9 -41.0 -55.3 Multilateral 1.6 5.1 -43.9 -87.0 -48.0 -41.2 -51.6 -36.4 -31.8 -41.2 Concessional 1.6 5.5 6.3 -0.2 -3.9 -7.1 -11.2 -4.8 -6.8 -10.9 Bilateral 0.7 7.7 -12.7 -19.5 -25.2 -6.1 -7.6 1.5 -9.2 -14.1 Concessional 1.0 2.1 -1.4 -8.6 -20.1 -1.5 -4.0 3.8 -7.2 -13.6Private creditors 2.9 1.9 -21.5 -17.1 -7.4 -6.0 8.0 -4.4 -2.7 -2.6 Bonds 2.6 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 -0.5 -0.2 -10.8 -6.7 -5.8 8.4 -4.1 -2.5 -2.3 Other private 0.2 2.5 -21.3 -6.3 -0.7 -0.2 -0.3 -0.3 -0.3 -0.3Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 -0.1 -26.1 -27.1 -20.8 -15.8 -13.2 -8.6 -5.2 -4.0 IDA 1.6 -0.2 -0.4 -0.6 -0.6 -0.6 -0.6 -0.5 -0.5 -0.5





95BOTSWANA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 3.1 -90.6 -51.8 -42.6 -27.9 -51.1 -53.7 80.4 Net flows on debt 5.6 8.3 -39.4 -43.5 -18.9 -63.1 -18.2 -28.4 -26.6 -47.3 Net change in interest arrears .. .. 2.1 -6.2 0.0 0.0 0.0 0.0 0.0 0.0 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 -1.1 0.0 Cross-currency valuation .. .. 21.2 -45.3 -24.4 5.9 -1.8 -10.5 0.1 11.8 Residual .. .. 19.2 4.4 -8.6 14.6 -8.0 -12.2 -26.0 115.9



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


96BRAZIL


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 5,734 71,527 119,964 181,322 198,024 241,010 243,711 238,793 226,358 227,932Long-term debt (LDOD) 5,020 57,987 94,427 145,327 163,138 206,291 205,654 206,052 189,748 183,710Public and publicly guaranteed 3,314 41,382 87,756 96,352 87,305 98,175 92,118 93,370 93,467 96,565Private nonguaranteed 1,706 16,605 6,671 48,975 75,833 108,116 113,536 112,682 96,280 87,145Use of IMF credit 0 0 1,821 68 31 4,825 8,827 1,768 8,337 20,827Short-term debt 714 13,540 23,716 35,927 34,854 29,894 29,231 30,973 28,273 23,395of which interest arrears on LDOD 0 14 8,791 1,927 1,354 1,674 265 177 0 0 Official creditors 0 0 332 903 813 246 148 107 0 0 Private creditors 0 13 8,459 1,024 541 1,428 117 70 0 0Memo: principal arrears on LDOD 3 446 3,694 3,035 2,959 1,937 2,099 1,840 0 0 Official creditors 0 3 789 821 813 384 259 599 0 0 Private creditors 3 443 2,905 2,214 2,146 1,552 1,841 1,240 0 0Memo: export credits 0 0 23,906 21,526 20,873 10,294 9,758 8,920 7,981 8,260

TOTAL DEBT FLOWS Disbursements 1,783 11,418 4,087 29,695 43,823 66,639 46,694 41,671 45,009 40,404Long-term debt 1,783 11,418 4,087 29,695 43,823 62,000 40,609 41,671 38,291 24,511IMF purchases 0 0 0 0 0 4,639 6,085 0 6,718 15,893Principal repayments 531 6,848 5,913 14,765 29,104 35,906 53,332 47,726 37,331 36,910Long-term debt 456 6,848 5,147 14,695 29,071 35,884 51,355 41,033 37,331 32,264IMF repurchases 75 0 765 70 33 21 1,977 6,693 0 4,646Net flows on debt 1,252 9,463 -1,727 19,238 -1,281 6,734 -5,892 -4,223 5,155 -1,385of which short-term debt 0 4,892 99 4,308 -16,000 -24,000 746 1,831 -2,524 -4,878Interest payments (INT) 221 7,909 2,260 10,452 12,157 15,453 17,737 17,069 16,991 14,721Long-term debt 221 6,384 2,029 8,587 10,771 13,952 15,969 15,239 15,501 13,489IMF charges 0 0 231 5 2 1 463 336 133 467Short-term debt 0 1,525 0 1,860 1,384 1,500 1,305 1,494 1,357 765Net transfers on debt 1,031 1,553 -3,986 8,786 -13,438 -8,720 -23,629 -21,292 -11,836 -16,106Total debt service paid (TDS) 752 14,757 8,172 25,217 41,261 51,359 71,069 64,795 54,322 51,632Long-term debt 677 13,232 7,176 23,282 39,842 49,837 67,323 56,271 52,832 45,753IMF repurchases and charges 75 0 996 75 35 22 2,441 7,029 133 5,114Short-term debt (interest only) 0 1,525 0 1,860 1,384 1,500 1,305 1,494 1,357 765


NET RESOURCE FLOWS 1,777 6,495 72 32,065 39,584 56,363 20,468 36,548 25,980 10,865Net flow of long-term debt (ex. IMF) 1,327 4,571 -1,060 15,000 14,752 26,116 -10,746 639 960 -7,754Foreign direct investment (net) 421 1,911 989 11,200 19,650 31,913 28,576 32,779 22,457 16,566Portfolio equity flows 0 0 103 5,785 5,099 -1,768 2,572 3,076 2,481 1,981Grants (excluding technical coop.) 28 14 41 80 83 103 65 54 81 72Memo: technical coop. grants 32 83 145 246 230 236 272 277 289 304 official net resource flows 212 840 -593 -671 -1,103 4,944 445 -1,737 2,823 1,004 private net resource flows 1,564 5,655 666 32,736 40,687 51,420 20,023 38,285 23,157 9,861

NET TRANSFERS 1,555 -844 -3,849 19,503 22,744 35,955 -651 17,071 5,473 -8,573Interest on long-term debt 221 6,384 2,029 8,587 10,771 13,952 15,969 15,239 15,501 13,489Profit remittances on FDI 0 955 1,892 3,975 6,070 6,456 5,150 4,238 5,006 5,950Memo: official net transfers 161 396 -1,867 -2,168 -2,342 3,451 -1,714 -3,652 1,265 -637 private net transfers 1,395 -1,240 -1,982 21,671 25,086 32,504 1,062 20,724 4,208 -7,936


Gross national income (GNI) 41,729 227,300 449,672 762,769 791,571 769,439 517,839 583,804 489,286 434,141Exports of goods, serv. & inc. (XGS) .. 23,331 36,854 59,722 65,846 64,644 60,326 69,317 72,003 74,974Worker remit. & comp. of employees 0 82 537 2,059 1,572 1,236 1,501 1,350 1,449 2,004Imports of goods & services (MGS) .. 36,250 40,949 83,545 96,827 98,946 86,224 93,950 95,676 83,349International reserves (RES) 1,190 6,875 9,200 59,685 51,706 43,902 35,717 33,008 35,866 37,835Current account balance .. -12,831 -3,823 -23,248 -30,491 -33,829 -25,400 -24,225 -23,215 -7,696

4. DEBT INDICATORS


97BRAZIL


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 5,020 57,987 94,427 145,327 163,138 206,291 205,654 206,052 189,748 183,710Public and publicly guaranteed 3,314 41,382 87,756 96,352 87,305 98,175 92,118 93,370 93,467 96,565Official creditors 1,779 7,313 29,348 25,351 22,194 27,832 28,869 29,360 28,827 31,382 Multilateral 376 3,092 11,391 9,404 10,065 16,320 18,557 18,240 19,373 21,230 Concessional 7 72 16 0 0 0 0 3 3 3 Bilateral 1,403 4,221 17,956 15,947 12,129 11,513 10,313 11,120 9,455 10,152 Concessional 1,308 1,684 3,001 5,170 4,443 4,286 4,507 2,114 2,649 3,209Private creditors 1,535 34,069 58,409 71,000 65,111 70,343 63,248 64,010 64,640 65,183 Bonds 0 3,233 2,339 57,403 51,736 51,512 52,357 51,558 46,246 50,068 Commercial banks 748 24,329 47,461 10,727 11,165 17,252 9,606 11,484 16,717 14,055 Other private 787 6,507 8,609 2,871 2,210 1,578 1,285 968 1,676 1,061Private nonguaranteed 1,706 16,605 6,671 48,975 75,833 108,116 113,536 112,682 96,280 87,145 Bonds 0 0 0 14,135 14,820 16,779 16,823 16,846 17,637 16,476 Commercial banks and other 1,706 16,605 6,671 34,840 61,013 91,338 96,713 95,836 78,643 70,669Memo: IBRD 206 2,035 8,427 5,876 5,743 6,298 6,822 7,377 7,963 8,585 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 1,783 11,418 4,087 29,695 43,823 62,000 40,609 41,671 38,291 24,511Public and publicly guaranteed 883 8,227 3,212 10,169 10,484 19,622 14,700 17,256 15,832 14,456Official creditors 260 1,344 1,322 3,149 3,011 9,512 5,706 5,257 4,339 5,508 Multilateral 107 535 1,001 2,263 2,718 6,978 4,542 4,468 2,651 3,338 Concessional 0 3 0 0 0 0 0 3 0 0 Bilateral 152 810 321 885 293 2,533 1,164 790 1,687 2,170 Concessional 96 47 86 3 4 353 568 526 458 814Private creditors 623 6,883 1,890 7,021 7,472 10,110 8,994 11,999 11,494 8,948 Bonds 0 378 200 4,345 4,262 2,934 8,520 8,450 7,870 4,772 Commercial banks 333 4,873 864 2,526 3,051 7,159 454 3,537 3,538 4,123 Other private 290 1,631 826 149 158 17 19 12 86 53Private nonguaranteed 900 3,192 875 19,526 33,340 42,379 25,909 24,415 22,459 10,055 Bonds 0 0 0 5,058 5,750 3,489 1,345 2,886 2,930 2,055 Commercial banks and other 900 3,192 875 14,468 27,590 38,890 24,564 21,529 19,529 8,000Memo: IBRD 61 343 782 1,500 1,416 1,240 1,533 1,692 1,639 1,400 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 456 6,848 5,147 14,695 29,071 35,884 51,355 41,033 37,331 32,264Public and publicly guaranteed 256 3,878 4,139 7,406 10,763 12,176 18,282 17,226 13,225 14,870Official creditors 76 518 1,956 3,900 4,197 4,671 5,326 7,048 1,597 4,575 Multilateral 31 164 1,518 1,517 1,335 1,265 2,596 4,308 1,114 2,153 Concessional 1 2 6 0 0 0 0 0 0 0 Bilateral 44 354 439 2,383 2,862 3,406 2,731 2,740 483 2,422 Concessional 40 96 29 543 302 442 422 224 122 507Private creditors 180 3,360 2,183 3,506 6,566 7,506 12,956 10,178 11,628 10,295 Bonds 0 32 71 1,271 3,824 3,475 5,859 8,397 6,979 2,028 Commercial banks 137 2,430 1,616 1,548 2,127 3,278 6,812 1,547 4,378 7,438 Other private 43 898 496 686 614 752 284 234 271 829Private nonguaranteed 200 2,970 1,008 7,290 18,308 23,708 33,072 23,806 24,105 17,394 Bonds 0 0 0 2,132 4,967 1,591 1,141 2,775 2,117 3,280 Commercial banks and other 200 2,970 1,008 5,158 13,341 22,117 31,931 21,031 21,988 14,114Memo: IBRD 14 98 1,251 1,222 1,049 994 952 887 828 1,063 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT 1,327 4,571 -1,060 15,000 14,752 26,116 -10,746 639 960 -7,754Public and publicly guaranteed 627 4,349 -927 2,763 -280 7,446 -3,582 30 2,607 -414Official creditors 184 826 -634 -751 -1,186 4,841 380 -1,791 2,742 932 Multilateral 76 371 -517 746 1,383 5,714 1,946 160 1,537 1,184 Concessional 0 2 -6 0 0 0 0 3 0 0 Bilateral 108 455 -117 -1,497 -2,569 -873 -1,566 -1,951 1,205 -252 Concessional 57 -49 57 -539 -298 -90 145 302 336 307Private creditors 443 3,523 -293 3,515 906 2,605 -3,962 1,821 -135 -1,346 Bonds 0 346 129 3,074 438 -541 2,661 53 891 2,745 Commercial banks 196 2,444 -753 978 924 3,880 -6,358 1,990 -840 -3,315 Other private 247 733 330 -538 -456 -735 -265 -222 -185 -776Private nonguaranteed 700 222 -133 12,236 15,032 18,670 -7,163 609 -1,647 -7,340 Bonds 0 0 0 2,925 783 1,898 203 111 813 -1,225 Commercial banks and other 700 222 -133 9,311 14,249 16,773 -7,367 498 -2,459 -6,114Memo: IBRD 47 245 -469 278 368 246 580 805 810 338 IDA 0 0 0 0 0 0 0 0 0 0

98BRAZIL


INTEREST PAYMENTS (LINT) 221 6,384 2,029 8,587 10,771 13,952 15,969 15,239 15,501 13,489Public and publicly guaranteed 132 4,253 1,569 5,531 5,211 5,135 6,634 6,887 6,931 6,643Official creditors 51 444 1,273 1,497 1,240 1,492 2,159 1,916 1,558 1,642 Multilateral 21 255 966 679 689 738 1,550 1,400 1,385 1,186 Concessional 0 3 1 0 0 0 0 0 0 0 Bilateral 30 189 307 818 551 755 609 516 173 456 Concessional 28 47 13 237 42 186 189 81 60 92Private creditors 81 3,809 296 4,034 3,971 3,642 4,475 4,971 5,373 5,001 Bonds 0 234 14 3,123 3,168 2,467 3,395 4,173 4,170 3,689 Commercial banks 45 3,128 46 706 687 977 1,015 759 1,187 1,279 Other private 36 446 236 205 116 198 65 39 15 34Private nonguaranteed 89 2,132 460 3,056 5,560 8,818 9,335 8,352 8,571 6,846 Bonds 0 0 0 1,028 1,323 1,399 1,503 1,562 1,632 1,707 Commercial banks and other 89 2,132 460 2,028 4,237 7,419 7,832 6,790 6,939 5,139Memo: IBRD 11 177 725 416 380 378 428 464 533 459 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT 1,106 -1,814 -3,089 6,413 3,981 12,163 -26,714 -14,600 -14,541 -21,242Public and publicly guaranteed 495 96 -2,496 -2,768 -5,490 2,311 -10,216 -6,857 -4,324 -7,057Official creditors 132 382 -1,907 -2,248 -2,425 3,349 -1,779 -3,707 1,184 -709 Multilateral 55 116 -1,483 67 694 4,976 397 -1,240 153 -1 Concessional -1 -1 -6 0 0 0 0 3 0 0 Bilateral 78 266 -425 -2,316 -3,120 -1,627 -2,175 -2,467 1,031 -708 Concessional 29 -96 44 -777 -340 -276 -43 221 275 215Private creditors 363 -286 -589 -519 -3,065 -1,038 -8,437 -3,150 -5,508 -6,348 Bonds 0 112 115 -49 -2,730 -3,008 -734 -4,120 -3,279 -944 Commercial banks 151 -684 -799 273 237 2,903 -7,373 1,231 -2,028 -4,594 Other private 212 287 94 -743 -572 -933 -330 -261 -201 -809Private nonguaranteed 611 -1,910 -593 9,181 9,472 9,853 -16,499 -7,743 -10,217 -14,186 Bonds 0 0 0 1,897 -540 499 -1,300 -1,451 -819 -2,932 Commercial banks and other 611 -1,910 -593 7,283 10,012 9,354 -15,199 -6,292 -9,398 -11,254Memo: IBRD 36 68 -1,193 -138 -12 -133 152 341 277 -121 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) 677 13,232 7,176 23,282 39,842 49,837 67,323 56,271 52,832 45,753Public and publicly guaranteed 388 8,131 5,708 12,937 15,974 17,311 24,916 24,113 20,156 21,513Official creditors 127 962 3,229 5,397 5,437 6,163 7,485 8,964 3,155 6,217 Multilateral 53 419 2,484 2,196 2,024 2,002 4,145 5,708 2,499 3,339 Concessional 1 4 6 0 0 0 0 0 0 0 Bilateral 75 544 746 3,201 3,413 4,161 3,340 3,256 656 2,878 Concessional 68 143 42 780 344 629 611 304 183 599Private creditors 261 7,169 2,479 7,540 10,537 11,148 17,431 15,149 17,001 15,296 Bonds 0 266 85 4,395 6,993 5,943 9,255 12,570 11,149 5,717 Commercial banks 182 5,558 1,663 2,254 2,814 4,255 7,827 2,306 5,566 8,717 Other private 79 1,345 732 892 730 950 349 273 287 863Private nonguaranteed 289 5,102 1,468 10,346 23,868 32,526 42,408 32,158 32,676 24,240 Bonds 0 0 0 3,160 6,290 2,990 2,645 4,337 3,749 4,987 Commercial banks and other 289 5,102 1,468 7,185 17,578 29,536 39,763 27,821 28,927 19,254Memo: IBRD 25 275 1,975 1,638 1,428 1,373 1,380 1,351 1,362 1,522 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT 1,661 14,889 15,087 20,861 29,125 44,519 45,862 38,200 22,299 17,222Official creditors 821 6,579 7,467 10,940 14,862 29,010 30,793 20,727 14,328 13,278Private creditors 841 8,310 7,620 9,921 14,263 15,510 15,069 17,472 7,972 3,943Memorandum items Concessional LDOD 1,315 1,755 3,018 5,170 4,443 4,286 4,507 2,117 2,652 3,212 Variable rate LDOD 2,111 41,557 66,630 110,472 132,997 166,688 166,653 157,193 138,131 129,294 Public sector LDOD 3,206 39,303 87,186 95,570 86,676 96,064 90,111 92,924 93,142 95,530 Private sector LDOD 1,814 18,685 7,241 49,757 76,462 110,227 115,543 113,127 96,606 88,179



99BRAZIL



Total amount rescheduled .. .. 1,316 297 288 148 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 16 0 Principal rescheduled .. .. 1,064 0 0 0 0 0 1,047 0 Official .. .. 212 0 0 0 0 0 40 0 Private .. .. 852 0 0 0 0 0 1,007 0 Interest rescheduled .. .. 274 297 288 148 0 0 63 0 Official .. .. 69 0 0 0 0 0 1 0 Private .. .. 205 297 288 148 0 0 61 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 1,259 0 3,294 0 4,151 6,479 4,531 0 of which debt buyback .. .. 776 0 2,694 0 2,971 6,342 4,531 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 5,327 20,817 16,702 42,986 2,701 -4,918 -12,435 1,574 Net flows on debt 1,252 9,463 -1,727 19,238 -1,281 6,734 -5,892 -4,223 5,155 -1,385 Net change in interest arrears .. .. 5,603 381 -573 320 -1,409 -88 -177 0 Interest capitalized .. .. 274 297 288 148 0 0 63 0 Debt forgiveness or reduction .. .. -483 0 -600 0 -1,181 -137 0 0 Cross-currency valuation .. .. 3,031 -2,582 -3,390 1,867 -821 -2,422 -1,924 4,208 Residual .. .. -1,371 3,482 6,757 15,199 12,004 1,953 -15,552 -1,249

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 7.0 11.9 8.2 8.1 7.5 7.2 8.8 8.3 6.6 7.5 Maturity (years) 14.0 11.6 11.8 8.3 14.6 4.9 7.8 13.1 10.0 12.6 Grace period (years) 3.4 3.9 3.7 3.7 8.0 2.4 4.7 9.5 5.2 6.3 Grant element (%) 17.2 -8.4 8.9 8.1 12.0 6.6 3.4 3.3 14.4 15.2Official creditors Interest (%) 5.7 9.2 7.4 6.6 5.4 6.0 6.2 5.7 4.8 3.8 Maturity (years) 24.8 14.3 15.2 14.9 17.2 4.7 10.1 8.5 11.2 18.0 Grace period (years) 5.9 3.9 4.1 2.9 3.9 1.2 3.6 1.2 2.2 4.9 Grant element (%) 29.3 6.0 14.9 16.3 25.1 8.1 16.4 13.7 23.1 37.7Private creditors Interest (%) 7.5 12.7 9.0 8.7 8.8 9.8 10.8 9.8 7.8 10.7 Maturity (years) 9.4 10.8 8.0 5.4 12.9 5.4 6.0 15.8 9.2 7.9 Grace period (years) 2.2 3.9 3.2 4.0 10.6 4.9 5.6 14.4 7.2 7.6 Grant element (%) 12.0 -12.6 2.5 4.6 4.1 3.3 -7.2 -3.0 8.5 -4.3Memorandum items Commitments 1,441 10,657 3,012 12,940 20,337 34,481 16,678 28,199 24,358 8,907 Official creditors 433 2,396 1,562 3,907 7,704 23,205 7,454 10,584 9,940 4,120 Private creditors 1,008 8,260 1,450 9,033 12,633 11,277 9,224 17,616 14,418 4,787


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 4,659 2,766 1,558 1,020 614 359 237 133 76 32Principal 29,981 30,720 22,225 16,349 15,957 13,308 10,911 7,641 9,272 8,698Interest 12,054 10,161 8,365 7,036 6,040 4,865 4,189 3,385 3,051 2,358Official creditors Disbursements 3,205 2,334 1,550 1,020 614 359 237 133 76 32Principal 6,257 5,827 4,107 3,822 2,232 2,151 2,117 1,994 1,753 1,616Interest 1,348 1,190 1,039 900 764 684 605 522 447 379 Bilateral creditors Disbursements 1,197 588 285 162 60 18 12 2 0 0 Principal 2,326 2,256 2,189 2,159 447 389 515 455 291 285 Interest 418 344 261 172 99 86 76 58 47 38 Multilateral creditors Disbursements 2,008 1,746 1,265 858 554 342 225 132 76 32 Principal 3,931 3,571 1,917 1,663 1,785 1,762 1,602 1,539 1,462 1,332 Interest 930 846 778 728 665 597 529 464 401 340Private creditors Disbursements 1,455 432 8 0 0 0 0 0 0 0Principal 23,724 24,892 18,118 12,527 13,725 11,157 8,794 5,647 7,519 7,082Interest 10,706 8,971 7,326 6,136 5,275 4,181 3,584 2,863 2,604 1,980 Commercial banks Disbursements 1,412 418 1 0 0 0 0 0 0 0 Principal 4,524 2,258 1,483 932 878 1,414 428 271 152 141 Interest 976 706 559 461 401 336 292 274 274 277 Other private Disbursements 43 14 6 0 0 0 0 0 0 0 Principal 19,200 22,635 16,635 11,596 12,847 9,743 8,366 5,376 7,367 6,941 Interest 9,731 8,265 6,767 5,675 4,874 3,845 3,292 2,589 2,330 1,702

100BULGARIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 10,890 10,103 9,853 10,040 10,090 10,188 9,638 10,462Long-term debt (LDOD) .. .. 9,834 8,636 8,174 8,506 8,468 8,449 8,183 8,585Public and publicly guaranteed .. .. 9,834 8,223 7,750 7,952 7,777 7,680 7,401 7,474Private nonguaranteed .. .. 0 413 424 554 691 769 782 1,111Use of IMF credit .. .. 0 586 942 1,116 1,250 1,322 1,110 1,049Short-term debt .. .. 1,056 881 737 419 372 418 345 828of which interest arrears on LDOD .. .. 226 116 179 179 34 0 0 0 Official creditors .. .. 5 10 10 8 0 0 0 0 Private creditors .. .. 221 105 169 170 34 0 0 0Memo: principal arrears on LDOD .. .. 356 95 329 89 164 1 0 0 Official creditors .. .. 1 25 24 23 0 0 0 0 Private creditors .. .. 354 71 305 66 164 1 0 0Memo: export credits .. .. 4,798 1,427 1,207 954 789 650 375 217

TOTAL DEBT FLOWS Disbursements .. .. 875 335 715 1,139 1,324 995 839 983Long-term debt .. .. 875 218 226 828 1,038 719 706 874IMF purchases .. .. 0 116 489 311 286 276 133 109Principal repayments .. .. 865 703 462 769 751 712 803 1,006Long-term debt .. .. 865 478 374 586 627 573 502 753IMF repurchases .. .. 0 225 89 183 124 139 301 253Net flows on debt .. .. -14 -41 45 52 671 362 -36 460of which short-term debt .. .. -24 327 -208 -318 98 80 -72 483Interest payments (INT) .. .. 510 562 517 538 417 538 533 362Long-term debt .. .. 452 499 457 471 354 456 459 307IMF charges .. .. 0 29 31 45 44 63 58 31Short-term debt .. .. 58 34 30 22 18 19 15 24Net transfers on debt .. .. -523 -604 -472 -487 254 -176 -568 98Total debt service paid (TDS) .. .. 1,374 1,265 980 1,307 1,168 1,250 1,336 1,368Long-term debt .. .. 1,316 977 830 1,057 981 1,029 962 1,060IMF repurchases and charges .. .. 0 254 120 228 168 202 359 284Short-term debt (interest only) .. .. 58 34 30 22 18 19 15 24


NET RESOURCE FLOWS .. .. 15 -51 551 906 1,372 1,282 1,182 859Net flow of long-term debt (ex. IMF) .. .. 11 -260 -147 242 411 145 204 121Foreign direct investment (net) .. .. 4 109 505 537 806 1,002 813 600Portfolio equity flows .. .. 0 2 52 19 2 5 -9 -23Grants (excluding technical coop.) .. .. 0 98 141 108 153 130 174 160Memo: technical coop. grants .. .. 0 57 44 114 93 150 104 138 official net resource flows .. .. 57 139 78 318 311 214 22 51 private net resource flows .. .. -42 -189 472 587 1,061 1,067 1,160 807

NET TRANSFERS .. .. -437 -550 94 379 1,006 719 574 356Interest on long-term debt .. .. 452 499 457 471 354 456 459 307Profit remittances on FDI .. .. 0 1 0 56 12 107 149 195Memo: official net transfers .. .. 43 -49 -75 165 167 75 -115 -52 private net transfers .. .. -480 -502 169 214 839 643 689 409


Gross national income (GNI) .. .. .. 9,511 10,021 12,447 12,777 12,284 13,291 15,259Exports of goods, serv. & inc. (XGS) .. .. .. 6,437 6,488 6,288 6,058 7,323 7,891 8,606Worker remit. & comp. of employees .. .. 0 42 51 51 43 58 71 73Imports of goods & services (MGS) .. .. .. 6,526 6,298 6,580 7,043 8,314 9,231 9,834International reserves (RES) .. .. .. 864 2,485 3,057 3,265 3,507 3,646 4,846Current account balance .. .. .. 16 427 -62 -685 -701 -842 -679

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. 156.9 151.9 159.7 166.5 139.1 122.1 121.6EDT / GNI (%) .. .. .. 106.2 98.3 80.7 79.0 82.9 72.5 68.6TDS / XGS (%) .. .. .. 19.7 15.1 20.8 19.3 17.1 16.9 15.9INT / XGS (%) .. .. .. 8.7 8.0 8.6 6.9 7.3 6.7 4.2INT / GNI (%) .. .. .. 5.9 5.2 4.3 3.3 4.4 4.0 2.4RES / EDT (%) .. .. .. 8.6 25.2 30.4 32.4 34.4 37.8 46.3RES / MGS (months) .. .. .. 1.6 4.7 5.6 5.6 5.1 4.7 5.9Short-term / EDT (%) .. .. 9.7 8.7 7.5 4.2 3.7 4.1 3.6 7.9Concessional / EDT (%) .. .. 0.7 1.8 1.7 1.7 2.2 3.7 3.8 3.2Multilateral / EDT (%) .. .. 2.0 12.3 11.0 14.1 14.8 15.2 16.0 17.2

101BULGARIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 9,834 8,636 8,174 8,506 8,468 8,449 8,183 8,585Public and publicly guaranteed .. .. 9,834 8,223 7,750 7,952 7,777 7,680 7,401 7,474Official creditors .. .. 1,669 2,786 2,427 2,722 2,671 2,612 2,338 2,461 Multilateral .. .. 222 1,240 1,081 1,416 1,489 1,544 1,540 1,796 Concessional .. .. 0 0 4 5 5 6 8 32 Bilateral .. .. 1,447 1,546 1,347 1,306 1,182 1,068 799 666 Concessional .. .. 77 179 159 165 215 370 361 305Private creditors .. .. 8,165 5,437 5,322 5,230 5,106 5,068 5,063 5,012 Bonds .. .. 327 5,155 5,072 5,020 5,034 4,982 4,979 4,898 Commercial banks .. .. 7,084 244 212 205 3 26 29 49 Other private .. .. 753 38 39 5 68 59 55 65Private nonguaranteed .. .. 0 413 424 554 691 769 782 1,111 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 413 424 554 691 769 782 1,111Memo: IBRD .. .. 0 453 501 697 829 824 844 958 IDA .. .. 0 0 0 0 0 0 0 0

DISBURSEMENTS .. .. 875 218 226 828 1,038 719 706 874Public and publicly guaranteed .. .. 875 157 201 522 525 405 454 145Official creditors .. .. 80 157 195 522 400 381 226 127 Multilateral .. .. 44 141 193 520 309 156 163 99 Concessional .. .. 0 0 4 1 0 1 2 22 Bilateral .. .. 36 17 2 3 91 225 63 28 Concessional .. .. 0 15 2 3 61 225 43 28Private creditors .. .. 795 0 6 0 125 24 229 19 Bonds .. .. 65 0 0 0 53 0 224 0 Commercial banks .. .. 652 0 0 0 4 24 5 19 Other private .. .. 78 0 6 0 68 0 0 0Private nonguaranteed .. .. 0 61 25 306 513 313 252 729 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 61 25 306 513 313 252 729Memo: IBRD .. .. 0 52 101 197 221 71 88 39 IDA .. .. 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. 865 478 374 586 627 573 502 753Public and publicly guaranteed .. .. 865 455 352 377 311 345 402 320Official creditors .. .. 23 117 258 312 242 297 377 236 Multilateral .. .. 22 23 193 205 53 58 125 79 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 1 94 64 107 189 239 253 157 Concessional .. .. 0 9 8 7 20 50 49 17Private creditors .. .. 842 338 95 65 69 48 25 84 Bonds .. .. 0 205 61 56 35 46 22 79 Commercial banks .. .. 241 122 28 7 33 1 1 1 Other private .. .. 601 12 5 2 1 1 1 4Private nonguaranteed .. .. 0 23 21 209 316 229 100 433 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 23 21 209 316 229 100 433Memo: IBRD .. .. 0 13 16 20 22 27 32 37 IDA .. .. 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. 11 -260 -147 242 411 145 204 121Public and publicly guaranteed .. .. 11 -297 -151 146 213 61 52 -174Official creditors .. .. 57 41 -63 211 158 84 -152 -109 Multilateral .. .. 21 118 -1 315 255 99 38 20 Concessional .. .. 0 0 4 1 0 1 2 22 Bilateral .. .. 36 -77 -62 -104 -97 -14 -189 -129 Concessional .. .. 0 6 -5 -5 41 175 -6 11Private creditors .. .. -46 -338 -88 -65 55 -24 204 -65 Bonds .. .. 65 -205 -61 -56 18 -46 201 -79 Commercial banks .. .. 411 -122 -28 -7 -29 24 4 18 Other private .. .. -522 -12 1 -2 66 -1 -1 -4Private nonguaranteed .. .. 0 38 4 96 198 85 151 296 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 38 4 96 198 85 151 296Memo: IBRD .. .. 0 40 85 176 199 44 56 2 IDA .. .. 0 0 0 0 0 0 0 0

102BULGARIA



NET TRANSFERS ON DEBT .. .. -441 -758 -604 -229 57 -311 -255 -186Public and publicly guaranteed .. .. -441 -776 -594 -313 -120 -363 -375 -438Official creditors .. .. 43 -146 -216 57 14 -55 -289 -213 Multilateral .. .. 8 43 -66 251 186 18 -48 -57 Concessional .. .. 0 0 4 1 0 1 2 21 Bilateral .. .. 35 -190 -150 -194 -172 -73 -241 -156 Concessional .. .. 0 -2 -13 -12 36 165 -15 4Private creditors .. .. -484 -630 -378 -370 -134 -309 -86 -226 Bonds .. .. 49 -484 -337 -360 -170 -331 -87 -238 Commercial banks .. .. 74 -133 -42 -8 -30 23 2 16 Other private .. .. -608 -12 1 -2 66 -1 -1 -4Private nonguaranteed .. .. 0 18 -9 84 176 53 119 253 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 18 -9 84 176 53 119 253Memo: IBRD .. .. 0 10 54 140 157 -4 8 -39 IDA .. .. 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. 1,316 977 830 1,057 981 1,029 962 1,060Public and publicly guaranteed .. .. 1,316 934 796 835 644 769 829 584Official creditors .. .. 37 304 411 465 386 436 515 339 Multilateral .. .. 36 97 259 268 123 138 210 155 Concessional .. .. 0 0 0 0 0 0 0 1 Bilateral .. .. 1 207 153 196 263 298 305 184 Concessional .. .. 0 17 16 14 26 60 58 24Private creditors .. .. 1,280 630 385 370 258 333 315 244 Bonds .. .. 15 484 337 360 223 331 311 238 Commercial banks .. .. 578 133 42 8 33 1 2 3 Other private .. .. 686 12 5 2 1 1 1 4Private nonguaranteed .. .. 0 43 34 222 337 261 132 477 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 43 34 222 337 261 132 477Memo: IBRD .. .. 0 43 47 57 64 75 80 78 IDA .. .. 0 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. 271 782 920 827 800 893 737 611Official creditors .. .. 25 776 920 817 788 780 629 513Private creditors .. .. 246 7 0 10 12 112 108 98Memorandum items Concessional LDOD .. .. 77 179 163 169 220 376 369 336 Variable rate LDOD .. .. 7,714 7,024 6,790 7,216 7,341 7,298 6,997 5,310 Public sector LDOD .. .. 9,834 8,223 7,750 7,952 7,777 7,680 7,401 7,474 Private sector LDOD .. .. 0 413 424 554 691 769 782 1,111



103BULGARIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 753 -276 -251 187 50 99 -550 824 Net flows on debt .. .. -14 -41 45 52 671 362 -36 460 Net change in interest arrears .. .. 226 42 64 0 -145 -34 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -21 -7 -8 -122 -12 -202 -7 Cross-currency valuation .. .. 617 -262 -316 189 -163 -205 -153 335 Residual .. .. -77 7 -37 -45 -191 -13 -159 36



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


104BURKINA FASO


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 21 330 834 1,301 1,303 1,459 1,579 1,409 1,492 1,580Long-term debt (LDOD) 21 281 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399Public and publicly guaranteed 21 281 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 15 0 81 92 112 121 112 117 126Short-term debt 0 35 84 53 66 59 103 84 63 54of which interest arrears on LDOD 0 0 21 10 7 7 6 5 5 2 Official creditors 0 0 14 8 5 5 4 4 4 2 Private creditors 0 0 7 2 2 2 2 1 1 0Memo: principal arrears on LDOD 0 0 64 38 33 39 39 40 41 37 Official creditors 0 0 34 35 30 35 35 36 38 37 Private creditors 0 0 30 3 3 4 3 3 3 0Memo: export credits 0 0 200 83 86 64 61 40 35 44

TOTAL DEBT FLOWS Disbursements 2 70 79 112 89 108 125 96 160 148Long-term debt 2 65 79 103 71 90 108 88 139 134IMF purchases 1 4 0 10 18 18 17 7 21 14Principal repayments 2 11 19 31 33 35 44 33 25 35Long-term debt 2 11 18 30 31 32 38 26 18 27IMF repurchases 0 0 1 1 2 3 5 7 7 8Net flows on debt 1 56 70 81 72 66 127 44 115 106of which short-term debt 0 -3 10 0 15 -7 46 -19 -20 -7Interest payments (INT) 0 12 16 18 18 19 21 14 13 17Long-term debt 0 6 10 15 15 15 17 12 10 15IMF charges 0 0 0 1 0 0 1 1 1 1Short-term debt 0 5 6 2 3 3 3 1 2 2Net transfers on debt 0 45 54 64 53 47 106 30 102 89Total debt service paid (TDS) 2 22 34 49 51 54 64 47 38 53Long-term debt 2 17 28 45 47 48 55 38 28 42IMF repurchases and charges 0 0 1 1 2 3 6 7 7 9Short-term debt (interest only) 0 5 6 2 3 3 3 1 2 2


NET RESOURCE FLOWS 13 142 219 325 262 281 309 294 331 343Net flow of long-term debt (ex. IMF) 0 55 60 73 40 58 70 62 121 106Foreign direct investment (net) 0 0 1 17 13 10 13 23 9 8Portfolio equity flows 0 0 0 0 0 0 0 -3 1 0Grants (excluding technical coop.) 13 88 158 235 210 214 226 212 200 228Memo: technical coop. grants 8 73 112 117 95 91 80 77 84 81 official net resource flows 13 138 219 308 250 272 295 274 321 335 private net resource flows 0 4 0 17 12 10 13 21 9 8

NET TRANSFERS 13 127 203 310 247 266 292 280 316 324Interest on long-term debt 0 6 10 15 15 15 17 12 10 15Profit remittances on FDI 0 9 6 0 0 0 0 3 5 4Memo: official net transfers 13 135 209 293 234 256 278 262 311 320 private net transfers 0 -7 -6 17 12 10 13 17 5 4


Gross national income (GNI) 456 1,924 3,113 2,780 2,600 2,792 2,806 2,596 2,776 3,120Exports of goods, serv. & inc. (XGS) .. 376 506 .. .. .. .. 313 319 329Worker remit. & comp. of employees 0 150 140 80 80 80 80 67 50 50Imports of goods & services (MGS) .. 596 776 .. .. .. .. 691 690 ..International reserves (RES) 36 75 305 339 345 373 295 244 261 313Current account balance .. -49 -77 .. .. .. .. -319 -291 ..

4. DEBT INDICATORS

EDT / XGS (%) .. 88.0 164.6 .. .. .. .. 450.0 467.8 480.1EDT / GNI (%) 4.6 17.2 26.8 46.8 50.1 52.3 56.3 54.3 53.7 50.6TDS / XGS (%) .. 5.9 6.8 .. .. .. .. 14.9 11.9 16.0INT / XGS (%) .. 3.1 3.1 .. .. .. .. 4.4 4.0 5.3INT / GNI (%) 0.1 0.6 0.5 0.6 0.7 0.7 0.7 0.5 0.5 0.6RES / EDT (%) 174.9 22.6 36.6 26.0 26.5 25.6 18.7 17.3 17.5 19.8RES / MGS (months) .. 1.5 4.7 .. .. .. .. 4.2 4.5 ..Short-term / EDT (%) 0.0 10.6 10.1 4.1 5.1 4.1 6.5 6.0 4.3 3.4Concessional / EDT (%) 84.3 67.0 71.6 83.9 83.0 83.5 82.4 82.5 83.8 85.1Multilateral / EDT (%) 0.1 42.9 67.7 78.4 77.0 78.2 75.1 72.2 71.9 78.9

105BURKINA FASO


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 21 281 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399Public and publicly guaranteed 21 281 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399Official creditors 20 261 711 1,162 1,141 1,283 1,352 1,209 1,309 1,398 Multilateral 0 142 565 1,021 1,003 1,142 1,186 1,017 1,072 1,246 Concessional 0 133 460 960 953 1,087 1,141 981 1,037 1,211 Bilateral 20 119 147 142 138 142 166 192 236 152 Concessional 18 89 138 132 129 132 160 181 213 133Private creditors 0 20 38 4 4 4 3 3 3 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 1 0 0 0 0 0 0 0 Other private 0 19 37 4 4 4 3 3 3 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 77 282 636 636 710 753 593 636 745



NET FLOWS ON DEBT 0 55 60 73 40 58 70 62 121 106Public and publicly guaranteed 0 55 60 73 40 58 70 62 121 106Official creditors 0 51 61 73 40 58 70 62 121 106 Multilateral 0 23 32 65 40 60 62 52 101 103 Concessional 0 21 24 70 45 65 68 56 101 105 Bilateral 0 28 29 8 0 -3 8 10 19 3 Concessional 0 16 31 9 0 -2 11 10 9 4Private creditors 0 4 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 4 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 14 46 30 52 57 36 69 65

106BURKINA FASO



NET TRANSFERS ON DEBT 0 48 51 58 24 42 53 50 111 92Public and publicly guaranteed 0 48 51 58 24 42 53 50 111 92Official creditors 0 47 51 58 24 42 53 50 111 92 Multilateral 0 21 24 52 28 48 49 43 95 91 Concessional 0 20 20 60 35 56 57 48 95 94 Bilateral 0 26 27 6 -4 -6 3 7 16 1 Concessional 0 16 28 8 -3 -6 7 8 7 2Private creditors 0 1 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 2 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 11 12 42 26 47 52 32 67 61


UNDISBURSED DEBT 10 218 540 371 426 518 496 433 602 677Official creditors 9 214 525 356 413 504 496 433 602 677Private creditors 1 4 15 15 13 14 0 0 0 0Memorandum items Concessional LDOD 18 221 597 1,092 1,082 1,219 1,301 1,162 1,250 1,344 Variable rate LDOD 0 12 2 2 2 2 2 3 12 7 Public sector LDOD 21 276 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399 Private sector LDOD 0 5 1 0 0 0 0 0 0 0



107BURKINA FASO




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 116 27 2 155 120 -171 83 88 Net flows on debt 1 56 70 81 72 66 127 44 115 106 Net change in interest arrears .. .. 6 -2 -3 0 -2 0 0 -2 Interest capitalized .. .. 0 0 0 0 0 1 0 0 Debt forgiveness or reduction .. .. -5 -18 -1 -1 0 -73 -9 -69 Cross-currency valuation .. .. 25 -114 -146 -62 -35 -229 -56 85 Residual .. .. 21 81 81 152 31 87 33 -32



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


108BURUNDI


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 15 166 907 1,127 1,065 1,119 1,131 1,103 1,070 1,204Long-term debt (LDOD) 7 118 851 1,081 1,022 1,079 1,050 1,031 979 1,095Public and publicly guaranteed 7 118 851 1,081 1,022 1,079 1,050 1,031 979 1,095Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 8 36 43 38 28 20 12 7 2 13Short-term debt 0 12 13 8 16 20 70 65 88 96of which interest arrears on LDOD 0 0 0 5 9 12 15 20 27 36 Official creditors 0 0 0 5 9 12 15 20 27 36 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 0 15 27 44 63 82 79 96 Official creditors 0 0 0 15 27 44 62 81 79 96 Private creditors 0 0 0 0 0 0 1 1 0 0Memo: export credits 0 0 15 0 0 0 0 0 0 0

TOTAL DEBT FLOWS Disbursements 4 45 96 35 19 31 20 39 14 53Long-term debt 1 39 96 35 19 31 20 39 14 40IMF purchases 3 6 0 0 0 0 0 0 0 12Principal repayments 1 4 28 21 20 21 21 14 16 17Long-term debt 0 4 28 12 12 13 14 9 12 14IMF repurchases 0 0 1 9 8 9 7 5 4 3Net flows on debt 3 40 65 4 3 10 46 17 13 35of which short-term debt 0 -1 -3 -10 4 1 47 -9 16 -1Interest payments (INT) 0 4 14 10 9 9 8 8 7 7Long-term debt 0 2 12 9 9 8 6 4 5 5IMF charges 0 1 0 0 0 0 0 0 0 0Short-term debt 0 2 2 0 0 1 2 3 2 2Net transfers on debt 3 36 51 -5 -6 1 38 9 6 29Total debt service paid (TDS) 1 9 42 31 29 30 29 22 23 23Long-term debt 1 6 40 21 21 21 20 14 17 19IMF repurchases and charges 0 1 1 9 8 9 7 5 4 3Short-term debt (interest only) 0 2 2 0 0 1 2 3 2 2


NET RESOURCE FLOWS 8 78 204 95 53 69 66 101 136 146Net flow of long-term debt (ex. IMF) 1 35 68 23 7 18 6 30 2 26Foreign direct investment (net) 0 5 1 0 0 0 0 12 0 0Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 7 39 135 72 46 51 60 59 134 119Memo: technical coop. grants 11 45 60 30 19 13 21 15 11 25 official net resource flows 8 76 209 96 53 68 66 86 134 148 private net resource flows 0 2 -5 -1 0 0 0 15 2 -2

NET TRANSFERS 8 76 189 85 43 61 60 96 131 141Interest on long-term debt 0 2 12 9 9 8 6 4 5 5Profit remittances on FDI 0 0 3 1 1 0 0 0 0 0Memo: official net transfers 7 76 198 87 44 60 60 82 129 143 private net transfers 0 1 -9 -2 -1 0 0 14 1 -2


Gross national income (GNI) 235 922 1,117 886 945 870 703 663 679 712Exports of goods, serv. & inc. (XGS) .. .. 98 57 100 75 63 58 48 39Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. .. 341 159 158 185 141 165 162 160International reserves (RES) 15 105 112 146 118 70 53 38 18 59Current account balance .. .. -69 -40 -1 -54 -27 -48 -35 -3

4. DEBT INDICATORS

EDT / XGS (%) .. .. 928.7 1,964.8 1,060.6 1,486.8 1,791.9 1,916.0 2,233.2 3,048.8EDT / GNI (%) 6.4 18.0 81.2 127.1 112.8 128.7 160.9 166.2 157.6 169.2TDS / XGS (%) .. .. 43.4 53.3 28.9 40.1 45.6 37.8 48.0 59.0INT / XGS (%) .. .. 14.4 16.7 8.9 11.7 12.6 13.7 13.7 17.2INT / GNI (%) 0.1 0.5 1.3 1.1 0.9 1.0 1.1 1.2 1.0 1.0RES / EDT (%) 102.8 63.2 12.3 13.0 11.1 6.3 4.7 3.4 1.7 4.9RES / MGS (months) .. .. 3.9 11.0 8.9 4.6 4.5 2.7 1.3 4.4Short-term / EDT (%) 0.0 7.2 1.5 0.7 1.5 1.8 6.2 5.9 8.3 8.0Concessional / EDT (%) 16.3 62.6 85.9 92.3 92.8 93.7 90.4 90.9 88.8 88.2Multilateral / EDT (%) 30.2 35.7 72.7 81.8 81.9 82.3 79.4 80.3 80.0 78.7

109BURUNDI


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 7 118 851 1,081 1,022 1,079 1,050 1,031 979 1,095Public and publicly guaranteed 7 118 851 1,081 1,022 1,079 1,050 1,031 979 1,095Official creditors 6 110 842 1,080 1,021 1,078 1,049 1,027 973 1,091 Multilateral 5 59 660 921 872 921 899 885 856 948 Concessional 1 55 597 882 840 891 873 861 833 922 Bilateral 1 51 182 159 149 157 150 142 117 143 Concessional 1 49 182 159 149 157 150 142 117 139Private creditors 1 8 9 1 1 1 1 4 5 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 5 1 0 0 0 0 0 0 0 Other private 1 4 8 1 1 1 1 4 5 4Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 3 0 0 0 0 0 0 0 0 0 IDA 1 37 398 588 566 603 599 600 582 648



NET FLOWS ON DEBT 1 35 68 23 7 18 6 30 2 26Public and publicly guaranteed 1 35 68 23 7 18 6 30 2 26Official creditors 1 38 74 23 7 17 6 27 0 28 Multilateral 1 20 52 23 4 18 7 27 1 25 Concessional 0 20 55 28 8 22 9 27 1 25 Bilateral 0 17 22 1 3 0 0 0 -1 4 Concessional 0 17 22 1 3 0 0 0 -1 0Private creditors 0 -3 -6 -1 0 0 0 3 2 -2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -1 -5 0 0 0 0 0 0 0 Other private 0 -1 -1 -1 0 0 0 3 2 -2Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 48 14 7 18 8 28 2 25

110BURUNDI



NET TRANSFERS ON DEBT 1 33 56 14 -2 10 0 26 -3 22Public and publicly guaranteed 1 33 56 14 -2 10 0 26 -3 22Official creditors 1 37 63 15 -2 10 0 23 -5 24 Multilateral 1 20 43 14 -5 11 0 23 -4 20 Concessional 0 20 50 22 1 16 3 23 -3 20 Bilateral 0 17 20 0 3 -1 0 0 -1 4 Concessional 0 17 20 0 3 -1 0 0 -1 0Private creditors 0 -4 -7 -1 0 0 0 3 2 -2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -2 -6 0 0 0 0 0 0 0 Other private 0 -2 -1 -1 0 0 0 3 2 -2Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 11 45 10 3 15 3 23 -2 21


UNDISBURSED DEBT 2 184 457 232 145 119 124 113 143 178Official creditors 2 184 457 232 145 119 89 81 113 154Private creditors 0 0 0 0 0 0 35 32 30 24Memorandum items Concessional LDOD 2 104 779 1,040 989 1,048 1,023 1,003 950 1,062 Variable rate LDOD 0 0 0 0 0 0 0 0 0 1 Public sector LDOD 6 117 849 1,081 1,022 1,079 1,050 1,031 979 1,095 Private sector LDOD 1 1 2 0 0 0 0 0 0 0



111BURUNDI




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 18 -31 -62 53 13 -29 -33 134 Net flows on debt 3 40 65 4 3 10 46 17 13 35 Net change in interest arrears .. .. -1 3 3 4 3 4 8 9 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -105 0 0 0 0 0 -16 0 Cross-currency valuation .. .. 26 -88 -105 -30 -37 -38 -24 61 Residual .. .. 33 49 37 70 1 -11 -14 29



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


112CAMBODIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 1,845 2,354 2,383 2,465 2,517 2,634 2,703 2,907Long-term debt (LDOD) .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594Public and publicly guaranteed .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594Private nonguaranteed .. .. 0 0 0 0 0 0 0 0Use of IMF credit 0 0 27 69 65 66 73 73 80 96Short-term debt .. .. 136 107 125 137 152 226 224 216of which interest arrears on LDOD .. .. 103 94 99 106 109 132 145 192 Official creditors .. .. 102 94 99 106 109 132 145 192 Private creditors .. .. 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. 393 780 907 1,034 1,157 1,282 1,324 1,366 Official creditors .. .. 393 780 907 1,034 1,157 1,282 1,324 1,366 Private creditors .. .. 0 0 0 0 0 0 0 0Memo: export credits .. .. 8 10 13 5 3 3 4 3

TOTAL DEBT FLOWS Disbursements .. .. 0 77 40 56 59 90 113 169Long-term debt .. .. 0 77 40 56 48 79 92 147IMF purchases 0 0 0 0 0 0 11 11 21 22Principal repayments .. .. 0 5 4 6 18 14 13 14Long-term debt .. .. 0 5 4 4 15 7 1 1IMF repurchases 0 0 0 0 0 1 3 7 12 12Net flows on debt .. .. 15 73 49 55 53 127 85 101of which short-term debt .. .. 15 1 13 5 12 51 -15 -55Interest payments (INT) .. .. 30 4 5 6 14 17 8 7Long-term debt .. .. 29 2 3 4 12 12 5 6IMF charges 0 0 0 1 1 1 1 1 1 1Short-term debt .. .. 1 1 1 2 2 5 3 1Net transfers on debt .. .. -15 69 44 49 39 110 77 93Total debt service paid (TDS) .. .. 30 9 9 12 32 31 21 21Long-term debt .. .. 29 7 8 8 27 19 5 7IMF repurchases and charges 0 0 0 1 1 2 4 7 13 13Short-term debt (interest only) .. .. 1 1 1 2 2 5 3 1


NET RESOURCE FLOWS .. .. 23 559 411 465 385 421 434 379Net flow of long-term debt (ex. IMF) .. .. 0 72 36 52 33 72 91 146Foreign direct investment (net) .. .. 0 294 204 243 230 149 148 54Portfolio equity flows .. .. 0 0 0 0 0 0 0 0Grants (excluding technical coop.) .. .. 23 194 171 170 122 201 194 179Memo: technical coop. grants .. .. 19 150 123 121 94 102 122 136 official net resource flows .. .. 23 269 210 225 158 273 286 325 private net resource flows .. .. 0 290 201 240 227 149 148 54

NET TRANSFERS .. .. -6 552 403 459 360 396 423 365Interest on long-term debt .. .. 29 2 3 4 12 12 5 6Profit remittances on FDI .. .. 0 4 4 2 13 13 6 9Memo: official net transfers .. .. -6 266 207 222 146 261 281 319 private net transfers .. .. 0 286 196 238 215 136 142 45


Gross national income (GNI) .. .. 1,115 3,111 3,040 2,845 2,979 3,285 3,292 3,541Exports of goods, serv. & inc. (XGS) .. .. .. 829 922 1,096 1,555 1,997 2,263 2,521Worker remit. & comp. of employees .. .. 0 12 12 72 82 103 113 123Imports of goods & services (MGS) .. .. .. 1,385 1,311 1,494 2,033 2,457 2,635 2,912International reserves (RES) .. .. .. 266 299 439 509 611 697 913Current account balance .. .. .. -185 -210 -175 -188 -135 -86 -64

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. 283.9 258.3 224.9 161.9 131.9 119.4 115.3EDT / GNI (%) .. .. 165.5 75.7 78.4 86.6 84.5 80.2 82.1 82.1TDS / XGS (%) .. .. .. 1.1 1.0 1.1 2.1 1.5 0.9 0.8INT / XGS (%) .. .. .. 0.5 0.5 0.6 0.9 0.9 0.4 0.3INT / GNI (%) .. .. 2.7 0.1 0.2 0.2 0.5 0.5 0.2 0.2RES / EDT (%) .. .. .. 11.3 12.5 17.8 20.2 23.2 25.8 31.4RES / MGS (months) .. .. .. 2.3 2.7 3.5 3.0 3.0 3.2 3.8Short-term / EDT (%) .. .. 7.3 4.5 5.2 5.5 6.0 8.6 8.3 7.4Concessional / EDT (%) .. .. 91.2 90.7 90.5 90.4 90.2 88.0 88.2 88.6Multilateral / EDT (%) .. .. 0.1 8.0 9.0 11.2 12.9 14.5 16.3 20.9

113CAMBODIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594Public and publicly guaranteed .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594Official creditors .. .. 1,683 2,168 2,186 2,258 2,293 2,335 2,400 2,594 Multilateral .. .. 1 188 215 276 325 381 442 609 Concessional .. .. 1 188 215 276 325 381 442 609 Bilateral .. .. 1,681 1,980 1,972 1,982 1,968 1,954 1,958 1,985 Concessional .. .. 1,681 1,948 1,942 1,953 1,945 1,937 1,942 1,968Private creditors .. .. 0 10 6 3 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 0 0 Other private .. .. 0 10 6 3 0 0 0 0Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 108 132 156 180 207 238 306

DISBURSEMENTS .. .. 0 77 40 56 48 79 92 147Public and publicly guaranteed .. .. 0 77 40 56 48 79 92 147Official creditors .. .. 0 77 40 56 48 79 92 147 Multilateral .. .. 0 77 40 47 48 78 85 124 Concessional .. .. 0 77 40 47 48 78 85 124 Bilateral .. .. 0 0 0 9 0 1 7 23 Concessional .. .. 0 0 0 9 0 1 7 23Private creditors .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 0 0 Other private .. .. 0 0 0 0 0 0 0 0Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 46 30 19 27 37 40 47

PRINCIPAL REPAYMENTS .. .. 0 5 4 4 15 7 1 1Public and publicly guaranteed .. .. 0 5 4 4 15 7 1 1Official creditors .. .. 0 2 1 1 12 7 1 1 Multilateral .. .. 0 0 0 0 0 0 0 0 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 0 2 1 1 12 7 1 1 Concessional .. .. 0 0 0 0 7 7 1 1Private creditors .. .. 0 3 3 3 3 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 0 0 Other private .. .. 0 3 3 3 3 0 0 0Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. 0 72 36 52 33 72 91 146Public and publicly guaranteed .. .. 0 72 36 52 33 72 91 146Official creditors .. .. 0 75 39 55 36 72 91 146 Multilateral .. .. 0 77 40 47 48 78 85 124 Concessional .. .. 0 77 40 47 48 78 85 124 Bilateral .. .. 0 -2 -1 8 -12 -6 6 22 Concessional .. .. 0 0 0 9 -7 -6 6 22Private creditors .. .. 0 -3 -3 -3 -3 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 0 0 Other private .. .. 0 -3 -3 -3 -3 0 0 0Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 46 30 19 27 37 40 47

114CAMBODIA


INTEREST PAYMENTS (LINT) .. .. 29 2 3 4 12 12 5 6Public and publicly guaranteed .. .. 29 2 3 4 12 12 5 6Official creditors .. .. 29 2 3 4 12 12 5 6 Multilateral .. .. 0 1 2 2 2 3 3 4 Concessional .. .. 0 1 2 2 2 3 3 4 Bilateral .. .. 29 1 2 2 9 9 1 2 Concessional .. .. 29 1 1 1 9 9 1 1Private creditors .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 0 0 Other private .. .. 0 0 0 0 0 0 0 0Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 1 1 1 1 1 1 2

NET TRANSFERS ON DEBT .. .. -29 69 33 48 21 60 87 140Public and publicly guaranteed .. .. -29 69 33 48 21 60 87 140Official creditors .. .. -29 73 36 51 24 60 87 140 Multilateral .. .. 0 76 39 45 45 75 82 120 Concessional .. .. 0 76 39 45 45 75 82 120 Bilateral .. .. -29 -3 -3 6 -21 -15 4 20 Concessional .. .. -29 -1 -1 8 -16 -14 5 21Private creditors .. .. 0 -3 -3 -3 -3 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 0 0 Other private .. .. 0 -3 -3 -3 -3 0 0 0Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 45 30 18 26 35 38 45

DEBT SERVICE (LTDS) .. .. 29 7 8 8 27 19 5 7Public and publicly guaranteed .. .. 29 7 8 8 27 19 5 7Official creditors .. .. 29 4 4 5 24 19 5 7 Multilateral .. .. 0 1 2 2 2 3 3 4 Concessional .. .. 0 1 2 2 2 3 3 4 Bilateral .. .. 29 3 3 3 21 16 2 3 Concessional .. .. 29 1 1 1 16 15 2 2Private creditors .. .. 0 3 3 3 3 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 0 0 Other private .. .. 0 3 3 3 3 0 0 0Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 1 1 1 1 1 1 2

UNDISBURSED DEBT .. .. 651 216 231 214 332 436 439 473Official creditors .. .. 651 216 231 214 332 436 439 473Private creditors .. .. 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD .. .. 1,683 2,136 2,157 2,229 2,270 2,318 2,384 2,577 Variable rate LDOD .. .. 0 0 0 0 0 0 0 0 Public sector LDOD .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594 Private sector LDOD .. .. 0 0 0 0 0 0 0 0



115CAMBODIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 166 70 29 82 53 117 69 204 Net flows on debt .. .. 15 73 49 55 53 127 85 101 Net change in interest arrears .. .. 10 4 5 7 3 23 13 47 Interest capitalized .. .. 0 4 2 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 4 -12 -22 16 -3 -28 -29 54 Residual .. .. 136 1 -5 3 0 -6 0 2



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


116CAMEROON


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 145 2,588 6,657 9,622 9,371 9,957 9,476 9,277 8,367 8,502Long-term debt (LDOD) 145 2,251 5,577 8,290 7,964 8,403 8,002 7,741 7,166 7,417Public and publicly guaranteed 136 2,073 5,347 7,990 7,766 8,224 7,647 7,424 6,940 7,240Private nonguaranteed 9 178 230 300 198 179 355 317 226 177Use of IMF credit 0 59 121 72 93 156 196 235 244 307Short-term debt 0 278 960 1,260 1,314 1,398 1,278 1,301 957 778of which interest arrears on LDOD 0 9 191 788 185 172 154 282 177 186 Official creditors 0 3 87 650 78 64 56 144 94 74 Private creditors 0 6 105 138 108 109 98 138 84 111Memo: principal arrears on LDOD 0 7 350 774 490 528 470 564 260 315 Official creditors 0 2 103 377 170 199 175 265 145 179 Private creditors 0 5 246 398 320 328 296 299 115 137Memo: export credits 0 0 2,193 2,858 2,620 2,404 2,253 2,171 2,071 2,063

TOTAL DEBT FLOWS Disbursements 39 626 713 230 296 260 306 340 154 136Long-term debt 39 614 713 201 259 187 244 272 134 95IMF purchases 0 12 0 29 37 73 62 69 20 41Principal repayments 6 131 268 246 275 291 284 267 183 201Long-term debt 6 114 267 240 263 274 266 250 181 201IMF repurchases 0 17 1 6 11 16 18 17 2 0Net flows on debt 33 538 682 -186 679 66 -80 -32 -268 -252of which short-term debt 0 43 237 -169 657 97 -102 -105 -239 -187Interest payments (INT) 5 149 250 261 231 235 262 288 152 156Long-term debt 5 119 197 234 188 178 201 215 117 129IMF charges 0 2 11 3 3 3 2 2 1 2Short-term debt 0 28 42 24 40 55 59 72 34 25Net transfers on debt 28 389 432 -446 447 -169 -342 -321 -420 -409Total debt service paid (TDS) 11 280 518 507 506 526 546 556 335 358Long-term debt 11 233 463 474 451 452 467 465 297 331IMF repurchases and charges 0 19 13 9 14 19 20 19 3 2Short-term debt (interest only) 0 28 42 24 40 55 59 72 34 25


NET RESOURCE FLOWS 70 659 646 235 180 241 208 225 239 327Net flow of long-term debt (ex. IMF) 33 500 447 -39 -5 -87 -22 22 -47 -106Foreign direct investment (net) 16 130 -113 35 45 50 40 31 67 86Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 21 29 313 239 139 278 190 172 219 347Memo: technical coop. grants 17 85 126 117 95 107 97 94 106 115 official net resource flows 44 250 771 223 160 235 221 246 263 289 private net resource flows 26 409 -124 12 20 6 -12 -21 -24 38

NET TRANSFERS 65 425 311 -65 -77 10 -46 -57 66 153Interest on long-term debt 5 119 197 234 188 178 201 215 117 129Profit remittances on FDI 0 115 139 66 69 53 53 67 57 44Memo: official net transfers 40 208 647 3 -12 76 42 48 158 168 private net transfers 25 216 -336 -68 -65 -66 -88 -105 -92 -15


Gross national income (GNI) 1,022 5,618 10,674 8,518 8,506 8,234 8,932 8,285 8,091 8,663Exports of goods, serv. & inc. (XGS) .. 2,108 2,535 .. .. .. .. .. .. ..Worker remit. & comp. of employees 0 29 23 11 11 11 11 11 11 11Imports of goods & services (MGS) .. 2,552 3,041 .. .. .. .. .. .. ..International reserves (RES) 81 206 37 14 10 10 13 220 340 640Current account balance .. -445 -551 .. .. .. .. .. .. ..

4. DEBT INDICATORS


117CAMEROON


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 145 2,251 5,577 8,290 7,964 8,403 8,002 7,741 7,166 7,417Public and publicly guaranteed 136 2,073 5,347 7,990 7,766 8,224 7,647 7,424 6,940 7,240Official creditors 124 1,237 3,864 7,221 7,213 7,745 7,275 7,094 6,784 7,069 Multilateral 20 432 1,298 1,556 1,456 1,480 1,450 1,411 1,357 1,422 Concessional 12 210 341 669 735 835 901 953 949 1,077 Bilateral 104 805 2,566 5,666 5,757 6,265 5,825 5,683 5,427 5,648 Concessional 95 663 1,486 3,534 3,543 3,768 3,406 3,295 3,261 3,417Private creditors 12 836 1,483 769 553 479 372 330 156 171 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 193 503 365 314 327 279 256 101 117 Other private 12 643 980 404 239 152 93 74 55 54Private nonguaranteed 9 178 230 300 198 179 355 317 226 177 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 9 178 230 300 198 179 355 317 226 177Memo: IBRD 3 152 633 508 402 342 270 214 176 141 IDA 9 146 238 513 609 701 749 769 758 847



NET FLOWS ON DEBT 33 500 447 -39 -5 -87 -22 22 -47 -106Public and publicly guaranteed 24 482 524 -51 7 -77 25 70 44 -58Official creditors 23 221 458 -16 21 -43 31 74 44 -58 Multilateral 9 63 129 -38 -14 -17 4 20 23 -10 Concessional 6 21 -4 75 92 78 86 89 24 56 Bilateral 14 159 330 22 35 -27 27 54 21 -47 Concessional 12 109 89 67 79 8 38 68 26 -39Private creditors 1 261 66 -35 -14 -34 -6 -4 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 97 -17 -29 -8 -7 -4 -4 0 0 Other private 1 164 83 -7 -6 -27 -2 0 0 0Private nonguaranteed 9 18 -77 12 -11 -10 -47 -48 -91 -49 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 9 18 -77 12 -11 -10 -47 -48 -91 -49Memo: IBRD 3 24 30 -74 -68 -64 -62 -52 -8 -21 IDA 4 19 -3 80 115 74 59 49 12 42

118CAMEROON



NET TRANSFERS ON DEBT 28 381 250 -273 -193 -265 -223 -193 -164 -235Public and publicly guaranteed 19 378 344 -280 -171 -251 -155 -129 -61 -179Official creditors 19 180 335 -236 -152 -202 -148 -124 -61 -179 Multilateral 9 45 57 -137 -104 -75 -52 -28 -9 -54 Concessional 6 19 -8 71 82 72 80 81 17 48 Bilateral 11 135 277 -99 -47 -127 -97 -96 -52 -125 Concessional 10 95 60 34 28 -48 -10 9 -3 -76Private creditors 0 199 10 -44 -19 -49 -7 -5 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 73 -57 -36 -10 -12 -5 -5 0 0 Other private 0 125 66 -8 -10 -37 -2 0 0 0Private nonguaranteed 9 3 -94 7 -21 -14 -68 -64 -103 -56 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 9 3 -94 7 -21 -14 -68 -64 -103 -56Memo: IBRD 3 12 -18 -120 -104 -92 -88 -73 -26 -35 IDA 4 18 -4 76 110 69 54 43 6 36


UNDISBURSED DEBT 104 619 1,839 991 812 1,066 847 584 695 762Official creditors 103 545 1,521 987 808 1,062 847 584 695 762Private creditors 1 74 318 4 4 4 0 0 0 0Memorandum items Concessional LDOD 107 873 1,826 4,203 4,278 4,603 4,307 4,248 4,211 4,494 Variable rate LDOD 9 499 835 1,450 1,317 1,280 1,364 1,254 1,095 1,054 Public sector LDOD 127 2,006 5,224 7,919 7,706 8,165 7,596 7,377 6,940 7,240 Private sector LDOD 17 245 353 372 257 238 406 364 226 177



119CAMEROON



Total amount rescheduled .. .. 75 656 1,075 370 482 158 259 41 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 26 185 406 208 218 20 138 30 Official .. .. 7 147 306 147 180 9 61 28 Private .. .. 19 38 99 60 38 12 77 1 Interest rescheduled .. .. 22 66 564 151 141 16 83 22 Official .. .. 6 59 538 141 137 15 43 22 Private .. .. 16 8 26 9 4 0 39 0Debt forgiven .. .. 10 1 73 23 20 4 408 190 Memo: interest forgiven .. .. 0 0 89 17 16 2 243 80Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,233 197 -251 586 -481 -199 -910 136 Net flows on debt 33 538 682 -186 679 66 -80 -32 -268 -252 Net change in interest arrears .. .. 115 393 -602 -13 -19 128 -105 8 Interest capitalized .. .. 22 66 564 151 141 16 83 22 Debt forgiveness or reduction .. .. -10 -1 -73 -23 -20 -4 -408 -190 Cross-currency valuation .. .. 336 -682 -1,057 120 -812 -420 -296 890 Residual .. .. 87 605 239 284 308 115 84 -342

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.7 6.9 6.6 1.3 0.6 1.1 2.0 0.8 2.4 0.9 Maturity (years) 28.4 23.3 15.1 35.2 32.8 36.8 27.7 44.1 30.3 33.2 Grace period (years) 8.0 5.9 5.3 8.8 7.9 9.8 8.5 10.0 9.7 8.9 Grant element (%) 39.9 25.9 21.2 71.7 75.6 75.1 62.4 81.4 59.9 73.8Official creditors Interest (%) 4.6 6.1 6.6 1.3 0.6 1.1 2.0 0.8 2.4 0.9 Maturity (years) 28.8 24.8 15.2 35.2 32.8 36.8 27.7 44.1 30.3 33.2 Grace period (years) 8.1 6.3 5.3 8.8 7.9 9.8 8.5 10.0 9.7 8.9 Grant element (%) 40.4 30.6 21.3 71.7 75.6 75.1 62.4 81.4 59.9 73.8Private creditors Interest (%) 6.0 14.7 7.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 7.2 8.2 13.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.7 2.4 2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 13.0 -21.2 14.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments 42 170 479 351 43 385 253 70 286 125 Official creditors 41 155 473 351 43 385 253 70 286 125 Private creditors 1 15 6 0 0 0 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


120CAPE VERDE


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 133.8 202.1 206.5 246.5 327.4 327.2 360.7 413.5Long-term debt (LDOD) .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0Public and publicly guaranteed .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.3Short-term debt .. .. 4.7 6.1 7.0 5.7 19.4 12.6 19.4 25.2of which interest arrears on LDOD .. .. 2.3 5.0 4.0 2.7 3.7 4.0 3.7 3.3 Official creditors .. .. 1.9 4.2 3.4 2.7 3.6 4.0 3.4 3.1 Private creditors .. .. 0.4 0.8 0.5 0.0 0.1 0.0 0.3 0.3Memo: principal arrears on LDOD .. .. 11.1 21.5 19.6 15.4 24.8 34.1 26.4 24.4 Official creditors .. .. 10.4 19.7 17.4 15.4 23.0 32.9 25.8 23.4 Private creditors .. .. 0.7 1.8 2.2 0.0 1.8 1.2 0.6 1.0Memo: export credits .. .. 11.0 27.9 27.0 10.3 15.2 12.8 24.1 23.3

TOTAL DEBT FLOWS Disbursements .. .. 12.1 23.6 21.6 54.5 63.2 28.8 51.5 37.7Long-term debt .. .. 12.1 23.6 21.6 54.5 63.2 28.8 51.5 34.5IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.2Principal repayments .. .. 3.7 5.0 10.3 15.6 16.2 11.1 9.8 14.3Long-term debt .. .. 3.7 5.0 10.3 15.6 16.2 11.1 9.8 14.3IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt .. .. 10.7 -5.0 13.3 38.7 59.7 10.7 48.8 29.5of which short-term debt .. .. 2.4 -23.6 2.0 -0.1 12.8 -7.1 7.0 6.1Interest payments (INT) .. .. 2.0 2.8 4.2 3.8 3.8 5.0 4.2 7.4Long-term debt .. .. 1.9 2.6 4.1 3.7 3.3 4.8 3.6 6.6IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. .. 0.1 0.3 0.1 0.2 0.5 0.3 0.6 0.8Net transfers on debt .. .. 8.7 -7.9 9.1 34.9 55.9 5.6 44.6 22.1Total debt service paid (TDS) .. .. 5.7 7.8 14.5 19.5 20.0 16.1 14.0 21.7Long-term debt .. .. 5.6 7.6 14.4 19.3 19.5 15.9 13.4 20.9IMF repurchases and charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) .. .. 0.1 0.3 0.1 0.2 0.5 0.3 0.6 0.8


NET RESOURCE FLOWS .. .. 86.1 106.9 86.2 109.5 149.1 94.7 74.3 76.6Net flow of long-term debt (ex. IMF) .. .. 8.3 18.6 11.3 38.8 46.9 17.7 41.7 20.2Foreign direct investment (net) .. .. 0.3 28.5 11.6 9.0 53.3 33.4 9.1 14.8Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0Grants (excluding technical coop.) .. .. 77.5 59.8 63.2 61.7 45.9 43.6 23.5 41.7Memo: technical coop. grants .. .. 18.0 37.3 33.9 36.0 30.9 29.6 18.2 21.4 official net resource flows .. .. 85.9 73.0 74.3 102.7 93.4 63.1 56.8 60.4 private net resource flows .. .. 0.2 33.8 11.9 6.8 55.7 31.6 17.5 16.2

NET TRANSFERS .. .. 84.2 104.0 82.0 103.5 143.8 84.8 69.3 65.9Interest on long-term debt .. .. 1.9 2.6 4.1 3.7 3.3 4.8 3.6 6.6Profit remittances on FDI .. .. 0.0 0.3 0.0 2.4 2.0 5.1 1.4 4.1Memo: official net transfers .. .. 84.1 70.8 71.3 99.6 90.4 59.2 53.6 54.9 private net transfers .. .. 0.2 33.2 10.7 3.8 53.4 25.6 15.7 11.0


Gross national income (GNI) .. .. 340.5 495.4 498.3 534.0 575.1 520.0 544.1 606.0Exports of goods, serv. & inc. (XGS) .. .. 119.3 203.1 213.7 193.6 210.9 236.6 254.1 285.7Worker remit. & comp. of employees .. .. 59.1 100.3 76.4 73.7 79.1 86.9 80.9 85.1Imports of goods & services (MGS) .. .. 153.1 284.9 295.5 317.5 365.3 343.6 363.2 438.4International reserves (RES) .. .. 77.0 27.6 19.3 8.3 42.6 28.3 45.4 79.8Current account balance .. .. -3.8 -35.0 -29.7 -58.5 -74.2 -58.0 -55.7 -71.5

4. DEBT INDICATORS


121CAPE VERDE


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0Public and publicly guaranteed .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0Official creditors .. .. 126.6 184.3 187.5 231.0 298.7 307.1 325.3 365.2 Multilateral .. .. 87.0 147.0 151.3 180.7 222.0 229.2 240.8 279.6 Concessional .. .. 68.4 127.0 135.0 165.1 210.1 220.0 232.7 273.2 Bilateral .. .. 39.6 37.3 36.2 50.3 76.8 77.9 84.5 85.6 Concessional .. .. 25.5 27.1 26.7 28.0 46.3 48.4 70.8 72.6Private creditors .. .. 2.5 11.8 12.0 9.9 9.3 7.5 16.0 19.8 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 Other private .. .. 2.5 11.8 12.0 9.9 9.3 7.5 16.0 19.8Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 13.6 39.3 45.1 70.2 92.5 97.9 109.6 140.4

DISBURSEMENTS .. .. 12.1 23.6 21.6 54.5 63.2 28.8 51.5 34.5Public and publicly guaranteed .. .. 12.1 23.6 21.6 54.5 63.2 28.8 51.5 34.5Official creditors .. .. 12.1 18.3 20.2 54.5 63.2 28.8 40.4 30.1 Multilateral .. .. 6.0 15.4 19.5 29.3 40.9 23.5 24.9 30.1 Concessional .. .. 6.0 14.5 19.2 29.3 40.9 23.5 24.9 30.1 Bilateral .. .. 6.1 2.9 0.7 25.1 22.3 5.3 15.5 0.0 Concessional .. .. 0.7 2.9 0.7 2.6 15.8 5.3 15.5 0.0Private creditors .. .. 0.0 5.3 1.5 0.0 0.0 0.0 11.1 4.4 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 Other private .. .. 0.0 5.3 1.5 0.0 0.0 0.0 11.1 4.4Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 2.0 7.6 8.3 22.7 24.1 10.4 16.0 22.0

PRINCIPAL REPAYMENTS .. .. 3.7 5.0 10.3 15.6 16.2 11.1 9.8 14.3Public and publicly guaranteed .. .. 3.7 5.0 10.3 15.6 16.2 11.1 9.8 14.3Official creditors .. .. 3.6 5.0 9.1 13.5 15.6 9.3 7.1 11.4 Multilateral .. .. 2.5 4.8 7.0 6.2 5.4 6.1 5.0 8.1 Concessional .. .. 1.0 3.1 5.1 4.7 3.9 4.8 4.2 5.9 Bilateral .. .. 1.1 0.2 2.0 7.2 10.2 3.2 2.2 3.3 Concessional .. .. 0.2 0.2 1.4 1.0 0.5 2.2 1.4 2.6Private creditors .. .. 0.1 0.0 1.2 2.2 0.6 1.8 2.7 2.9 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 Other private .. .. 0.1 0.0 1.2 2.2 0.6 1.8 2.7 2.9Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.0 0.1 0.1 0.2 0.3 0.3 0.3 0.3

NET FLOWS ON DEBT .. .. 8.3 18.6 11.3 38.8 46.9 17.7 41.7 20.2Public and publicly guaranteed .. .. 8.3 18.6 11.3 38.8 46.9 17.7 41.7 20.2Official creditors .. .. 8.5 13.2 11.1 41.0 47.5 19.5 33.3 18.7 Multilateral .. .. 3.5 10.6 12.4 23.1 35.4 17.4 19.9 22.0 Concessional .. .. 5.0 11.5 14.1 24.7 36.9 18.7 20.7 24.2 Bilateral .. .. 4.9 2.7 -1.3 17.9 12.1 2.1 13.4 -3.3 Concessional .. .. 0.6 2.7 -0.7 1.6 15.2 3.1 14.2 -2.5Private creditors .. .. -0.1 5.3 0.3 -2.2 -0.6 -1.8 8.4 1.4 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 Other private .. .. -0.1 5.3 0.3 -2.2 -0.6 -1.8 8.4 1.4Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 2.0 7.4 8.2 22.5 23.8 10.2 15.7 21.7

122CAPE VERDE


INTEREST PAYMENTS (LINT) .. .. 1.9 2.6 4.1 3.7 3.3 4.8 3.6 6.6Public and publicly guaranteed .. .. 1.9 2.6 4.1 3.7 3.3 4.8 3.6 6.6Official creditors .. .. 1.9 2.2 3.0 3.0 3.0 3.9 3.2 5.5 Multilateral .. .. 1.2 2.0 2.2 2.4 2.1 2.7 1.7 3.7 Concessional .. .. 0.5 1.1 1.4 1.8 1.9 2.3 1.5 3.3 Bilateral .. .. 0.7 0.2 0.8 0.6 0.9 1.1 1.5 1.8 Concessional .. .. 0.0 0.2 0.4 0.4 0.3 0.8 1.0 1.6Private creditors .. .. 0.0 0.3 1.2 0.6 0.3 0.9 0.4 1.1 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 Other private .. .. 0.0 0.3 1.2 0.6 0.3 0.9 0.4 1.1Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.1 0.2 0.3 0.4 0.5 0.7 0.7 0.9

NET TRANSFERS ON DEBT .. .. 6.5 16.0 7.2 35.2 43.7 12.9 38.1 13.5Public and publicly guaranteed .. .. 6.5 16.0 7.2 35.2 43.7 12.9 38.1 13.5Official creditors .. .. 6.6 11.0 8.1 37.9 44.5 15.7 30.1 13.2 Multilateral .. .. 2.3 8.5 10.3 20.7 33.3 14.7 18.2 18.3 Concessional .. .. 4.6 10.4 12.7 22.8 35.1 16.4 19.2 20.9 Bilateral .. .. 4.3 2.5 -2.2 17.3 11.2 1.0 11.9 -5.0 Concessional .. .. 0.6 2.5 -1.1 1.2 15.0 2.3 13.2 -4.1Private creditors .. .. -0.2 5.0 -0.9 -2.8 -0.9 -2.7 8.0 0.3 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 Other private .. .. -0.2 5.0 -0.9 -2.8 -0.9 -2.7 8.0 0.3Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 1.9 7.2 7.9 22.1 23.3 9.5 15.0 20.8

DEBT SERVICE (LTDS) .. .. 5.6 7.6 14.4 19.3 19.5 15.9 13.4 20.9Public and publicly guaranteed .. .. 5.6 7.6 14.4 19.3 19.5 15.9 13.4 20.9Official creditors .. .. 5.5 7.3 12.0 16.5 18.6 13.1 10.3 16.9 Multilateral .. .. 3.7 6.9 9.2 8.7 7.6 8.8 6.7 11.8 Concessional .. .. 1.4 4.2 6.5 6.5 5.8 7.1 5.6 9.2 Bilateral .. .. 1.8 0.4 2.9 7.8 11.1 4.3 3.6 5.0 Concessional .. .. 0.2 0.4 1.8 1.4 0.8 3.0 2.3 4.2Private creditors .. .. 0.2 0.3 2.4 2.8 0.9 2.7 3.1 4.0 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 Other private .. .. 0.2 0.3 2.4 2.8 0.9 2.7 3.1 4.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.1 0.4 0.4 0.6 0.8 0.9 1.0 1.2




123CAPE VERDE




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 7.7 -12.2 4.4 40.0 80.9 -0.2 33.5 52.8 Net flows on debt .. .. 10.7 -5.0 13.3 38.7 59.7 10.7 48.8 29.5 Net change in interest arrears .. .. -0.2 0.4 -1.1 -1.3 1.0 0.3 -0.3 -0.3 Interest capitalized .. .. 0.0 0.0 0.7 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -8.2 0.0 0.0 -0.4 0.0 0.0 -21.0 0.0 Cross-currency valuation .. .. 2.9 -6.2 -5.0 2.3 -1.5 -7.0 -4.1 17.6 Residual .. .. 2.4 -1.3 -3.5 0.7 21.7 -4.2 10.1 6.1



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


124CENTRAL AFRICAN REPUBLIC


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 24 195 699 933 883 919 909 858 822 1,066Long-term debt (LDOD) 24 147 624 850 802 841 826 796 757 980Public and publicly guaranteed 24 147 624 850 802 841 826 796 757 980Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 24 37 28 19 18 23 21 31 33Short-term debt 0 25 38 55 63 60 60 41 34 53of which interest arrears on LDOD 0 11 15 38 45 44 23 25 25 44 Official creditors 0 2 13 37 44 43 22 24 24 41 Private creditors 0 9 2 1 1 1 1 1 1 3Memo: principal arrears on LDOD 0 44 23 85 95 96 84 96 96 139 Official creditors 0 17 20 71 81 85 72 84 83 113 Private creditors 0 27 4 14 14 11 13 13 13 26Memo: export credits 0 0 63 45 35 48 37 39 36 45

TOTAL DEBT FLOWS Disbursements 2 40 121 27 6 15 17 16 11 1Long-term debt 2 25 113 27 6 3 5 16 0 1IMF purchases 0 15 8 0 0 11 11 0 10 0Principal repayments 2 7 17 8 12 25 12 8 9 0Long-term debt 2 1 8 2 4 12 7 7 9 0IMF repurchases 0 6 10 6 7 13 5 1 0 0Net flows on debt -1 31 107 14 -3 -13 25 -14 -5 0of which short-term debt 0 -2 3 -5 2 -2 21 -22 -6 0Interest payments (INT) 1 3 12 5 4 8 7 6 4 1Long-term debt 1 0 9 3 2 7 5 4 4 0IMF charges 0 1 1 1 1 0 0 0 0 0Short-term debt 0 2 2 1 1 1 2 1 0 0Net transfers on debt -1 28 95 9 -8 -21 19 -20 -9 0Total debt service paid (TDS) 3 10 29 13 16 33 19 14 13 1Long-term debt 3 1 17 5 7 19 12 12 13 0IMF repurchases and charges 0 7 11 7 8 13 5 1 0 0Short-term debt (interest only) 0 2 2 1 1 1 2 1 0 0


NET RESOURCE FLOWS 7 85 192 155 76 94 81 65 55 47Net flow of long-term debt (ex. IMF) -1 24 105 25 2 -9 -2 9 -9 0Foreign direct investment (net) 1 5 1 11 0 1 3 1 5 4Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 6 56 86 119 73 102 79 56 59 43Memo: technical coop. grants 8 34 56 45 26 26 38 22 22 21 official net resource flows 7 81 192 144 75 93 78 64 50 43 private net resource flows 0 4 0 11 0 1 3 1 5 4

NET TRANSFERS 6 85 181 151 73 87 76 61 51 47Interest on long-term debt 1 0 9 3 2 7 5 4 4 0Profit remittances on FDI 0 0 2 1 0 0 1 0 0 0Memo: official net transfers 7 80 184 141 73 87 73 60 46 43 private net transfers 0 4 -3 10 0 0 2 0 5 4


Gross national income (GNI) 186 800 1,465 1,049 987 1,028 1,038 942 965 1,069Exports of goods, serv. & inc. (XGS) .. 205 220 .. .. .. .. .. .. ..Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 329 432 .. .. .. .. .. .. ..International reserves (RES) 1 62 123 236 182 149 140 136 122 127Current account balance .. -43 -89 .. .. .. .. .. .. ..

4. DEBT INDICATORS




5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 24 147 624 850 802 841 826 796 757 980Public and publicly guaranteed 24 147 624 850 802 841 826 796 757 980Official creditors 18 98 603 836 788 808 793 763 724 946 Multilateral 0 53 456 645 605 622 608 583 550 585 Concessional 0 42 429 631 591 608 596 572 540 573 Bilateral 18 45 147 191 183 185 185 180 174 361 Concessional 15 17 81 137 133 137 145 143 138 172Private creditors 6 48 22 14 14 33 33 33 33 34 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 6 48 22 14 14 33 33 33 33 34Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 29 265 422 403 413 403 391 372 399



NET FLOWS ON DEBT -1 24 105 25 2 -9 -2 9 -9 0Public and publicly guaranteed -1 24 105 25 2 -9 -2 9 -9 0Official creditors 0 25 106 25 2 -9 -1 9 -9 0 Multilateral 0 14 92 25 2 -9 -1 9 -7 0 Concessional 0 13 92 25 1 -7 0 9 -7 1 Bilateral 0 11 14 0 0 0 -1 -1 -2 0 Concessional 0 6 15 0 0 0 -1 0 -2 0Private creditors -1 -1 -1 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private -1 -1 -1 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 70 21 3 -3 -1 7 -6 1




NET TRANSFERS ON DEBT -1 24 96 22 0 -16 -6 4 -12 0Public and publicly guaranteed -1 24 96 22 0 -16 -6 4 -12 0Official creditors 0 25 98 22 0 -16 -6 4 -12 0 Multilateral 0 13 87 22 0 -15 -4 6 -9 0 Concessional 0 13 89 22 -1 -12 -3 6 -9 1 Bilateral 0 11 11 0 0 0 -2 -1 -3 0 Concessional 0 5 13 0 0 0 -2 -1 -3 0Private creditors -2 -1 -1 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private -2 -1 -1 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 68 19 1 -7 -4 4 -8 1


UNDISBURSED DEBT 13 61 236 83 66 46 17 20 30 31Official creditors 11 61 236 83 66 46 17 20 30 31Private creditors 2 0 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD 15 59 511 768 724 745 741 714 678 745 Variable rate LDOD 0 3 0 6 5 5 5 5 4 13 Public sector LDOD 24 147 624 850 800 840 825 795 756 979 Private sector LDOD 0 0 0 0 1 1 1 1 1 1







8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 5 -13 -50 36 -10 -51 -36 244 Net flows on debt -1 31 107 14 -3 -13 25 -14 -5 0 Net change in interest arrears .. .. -2 3 6 -1 -21 3 0 18 Interest capitalized .. .. 0 0 0 3 7 1 0 0 Debt forgiveness or reduction .. .. -153 -4 0 -2 0 0 0 0 Cross-currency valuation .. .. 38 -73 -95 -31 -18 -34 -19 46 Residual .. .. 15 47 43 79 -3 -7 -12 179



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


128CHAD


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 35 284 524 994 1,023 1,091 1,141 1,115 1,104 1,281Long-term debt (LDOD) 32 259 464 911 935 1,004 1,044 1,008 992 1,148Public and publicly guaranteed 32 259 464 911 935 1,004 1,044 1,008 992 1,148Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 2 14 30 65 61 64 69 78 89 107Short-term debt 0 11 30 18 26 23 28 29 23 25of which interest arrears on LDOD 0 6 6 8 7 9 12 14 10 12 Official creditors 0 4 4 8 7 8 11 13 10 12 Private creditors 0 2 2 0 0 0 0 0 0 1Memo: principal arrears on LDOD 2 31 16 35 30 38 45 53 48 57 Official creditors 0 12 13 35 29 37 44 51 45 54 Private creditors 2 20 3 0 0 2 2 3 3 3Memo: export credits 0 0 52 85 77 22 20 18 17 21

TOTAL DEBT FLOWS Disbursements 10 5 112 123 92 54 98 47 65 115Long-term debt 6 5 104 99 80 43 86 33 48 98IMF purchases 4 0 8 24 11 11 11 14 17 17Principal repayments 3 5 7 16 24 23 21 16 17 19Long-term debt 3 3 3 10 12 12 16 15 16 14IMF repurchases 0 3 4 6 11 11 5 1 1 5Net flows on debt 7 -8 107 109 77 27 78 29 46 96of which short-term debt 0 -8 2 2 9 -5 2 -2 -2 1Interest payments (INT) 0 1 5 14 12 12 11 10 6 10Long-term debt 0 0 3 13 10 11 10 9 5 9IMF charges 0 1 0 1 1 1 0 0 0 0Short-term debt 0 0 2 0 1 1 1 1 1 0Net transfers on debt 7 -9 102 95 65 15 67 19 40 86Total debt service paid (TDS) 3 6 12 30 35 35 32 26 23 29Long-term debt 3 3 6 23 22 22 27 24 21 24IMF repurchases and charges 0 3 4 7 12 12 5 1 2 5Short-term debt (interest only) 0 0 2 0 1 1 1 1 1 0


NET RESOURCE FLOWS 15 24 256 254 219 136 158 194 127 1,079Net flow of long-term debt (ex. IMF) 3 3 100 89 68 31 70 18 33 83Foreign direct investment (net) 1 0 9 41 44 21 27 115 0 901Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 11 22 147 124 107 83 61 61 94 95Memo: technical coop. grants 10 12 58 54 46 44 40 32 29 34 official net resource flows 13 24 248 214 175 114 132 79 127 179 private net resource flows 3 0 9 40 44 21 25 114 0 900

NET TRANSFERS 15 24 253 241 209 125 148 185 121 1,070Interest on long-term debt 0 0 3 13 10 11 10 9 5 9Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0Memo: official net transfers 12 24 244 201 165 103 123 71 122 170 private net transfers 2 0 9 40 44 21 25 114 -1 900


Gross national income (GNI) 470 1,038 1,730 1,591 1,537 1,726 1,520 1,371 1,646 1,971Exports of goods, serv. & inc. (XGS) .. 71 274 .. .. .. .. .. .. ..Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 83 511 .. .. .. .. .. .. ..International reserves (RES) 2 12 132 169 139 123 98 114 125 223Current account balance .. 12 -46 .. .. .. .. .. .. ..

4. DEBT INDICATORS


129CHAD


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 32 259 464 911 935 1,004 1,044 1,008 992 1,148Public and publicly guaranteed 32 259 464 911 935 1,004 1,044 1,008 992 1,148Official creditors 25 205 455 893 918 987 1,028 993 978 1,135 Multilateral 2 75 332 730 748 813 865 840 841 998 Concessional 2 75 322 683 709 777 834 814 808 963 Bilateral 23 131 123 163 170 174 163 154 137 137 Concessional 23 97 80 77 94 95 93 89 87 88Private creditors 8 54 9 17 17 17 16 15 14 13 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 1 0 0 0 0 0 0 0 0 0 Other private 7 53 9 17 17 17 16 15 14 13Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 9 9 IDA 0 36 186 433 457 488 527 515 516 623



NET FLOWS ON DEBT 3 3 100 89 68 31 70 18 33 83Public and publicly guaranteed 3 3 100 89 68 31 70 18 33 83Official creditors 1 3 101 89 68 31 71 18 33 84 Multilateral 0 3 69 91 64 32 71 22 39 88 Concessional 0 3 68 90 68 36 73 24 32 88 Bilateral 1 -1 32 -2 4 -1 0 -4 -6 -4 Concessional 1 -1 25 0 6 0 1 -3 -6 -2Private creditors 2 0 -1 0 0 0 -1 -1 0 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 2 0 -1 0 0 0 -1 -1 0 -1Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 9 0 IDA 0 0 48 67 47 15 48 13 20 70

130CHAD



NET TRANSFERS ON DEBT 3 2 97 77 58 20 60 9 27 74Public and publicly guaranteed 3 2 97 77 58 20 60 9 27 74Official creditors 1 2 98 77 58 20 61 10 28 75 Multilateral 0 3 67 82 58 24 64 16 34 79 Concessional 0 3 66 83 63 31 67 19 28 81 Bilateral 1 -1 31 -5 0 -4 -3 -7 -7 -4 Concessional 0 -1 24 0 6 0 1 -4 -7 -3Private creditors 2 0 -1 0 0 0 -2 -1 -1 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 2 0 -1 0 0 0 -2 -1 -1 -1Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 9 0 IDA 0 0 46 64 43 11 45 10 16 67


UNDISBURSED DEBT 18 94 372 322 291 292 197 322 385 389Official creditors 11 76 372 322 291 292 197 322 385 389Private creditors 7 18 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD 24 171 402 760 803 872 927 903 895 1,051 Variable rate LDOD 0 0 0 0 0 0 0 0 9 9 Public sector LDOD 32 259 463 911 935 1,004 1,044 1,008 992 1,148 Private sector LDOD 0 0 0 0 0 0 0 0 0 0



131CHAD




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 125 94 29 68 50 -26 -12 177 Net flows on debt 7 -8 107 109 77 27 78 29 46 96 Net change in interest arrears .. .. -1 -3 -1 1 3 2 -4 2 Interest capitalized .. .. 1 1 1 1 0 0 2 0 Debt forgiveness or reduction .. .. -12 -11 -2 -2 0 0 -14 -12 Cross-currency valuation .. .. 7 -76 -130 -76 -24 -43 -24 61 Residual .. .. 22 74 83 117 -7 -15 -18 29



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


132CHILE


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 2,977 12,081 19,226 23,049 22,809 30,175 34,269 37,048 38,398 41,945Long-term debt (LDOD) 2,567 9,398 14,687 20,414 21,522 28,565 33,098 34,517 35,841 38,188Public and publicly guaranteed 2,066 4,705 10,425 4,883 4,367 5,005 5,655 5,255 5,581 6,792Private nonguaranteed 501 4,693 4,263 15,531 17,155 23,560 27,443 29,261 30,260 31,396Use of IMF credit 1 123 1,156 0 0 0 0 0 0 0Short-term debt 409 2,560 3,382 2,635 1,287 1,610 1,171 2,531 2,557 3,757of which interest arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: export credits 0 0 2,062 2,037 1,876 1,064 1,013 842 705 675

TOTAL DEBT FLOWS Disbursements 655 3,551 2,253 6,644 6,217 6,784 5,879 4,979 6,024 7,084Long-term debt 655 3,551 2,253 6,644 6,217 6,784 5,879 4,979 6,024 7,084IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments 254 1,513 980 4,677 2,857 2,345 3,351 3,941 4,684 6,011Long-term debt 207 1,462 771 4,677 2,857 2,345 3,351 3,941 4,684 6,011IMF repurchases 47 52 208 0 0 0 0 0 0 0Net flows on debt 400 2,963 1,682 1,171 2,012 4,762 2,090 2,398 1,366 2,273of which short-term debt 0 925 409 -796 -1,348 323 -439 1,360 26 1,200Interest payments (INT) 104 1,193 1,792 1,291 1,134 1,418 1,578 2,236 1,964 1,718Long-term debt 104 918 1,364 1,185 1,070 1,326 1,501 2,082 1,809 1,592IMF charges 0 12 118 0 0 0 0 0 0 0Short-term debt 0 262 310 105 64 92 76 154 154 126Net transfers on debt 296 1,771 -110 -120 878 3,345 512 162 -598 555Total debt service paid (TDS) 359 2,706 2,772 5,968 3,991 3,762 4,928 6,177 6,648 7,729Long-term debt 311 2,380 2,135 5,863 3,927 3,671 4,852 6,023 6,494 7,603IMF repurchases and charges 47 64 326 0 0 0 0 0 0 0Short-term debt (interest only) 0 262 310 105 64 92 76 154 154 126


NET RESOURCE FLOWS 381 2,312 2,583 7,692 10,392 9,852 12,056 4,268 5,622 2,492Net flow of long-term debt (ex. IMF) 448 2,090 1,481 1,967 3,360 4,439 2,529 1,038 1,340 1,073Foreign direct investment (net) -79 213 661 4,979 5,275 4,806 8,989 3,639 4,477 1,713Portfolio equity flows 0 0 367 700 1,720 580 524 -427 -217 -317Grants (excluding technical coop.) 12 9 73 47 36 26 15 18 23 23Memo: technical coop. grants 19 37 66 89 78 73 63 56 58 49 official net resource flows 67 -136 367 -595 -338 -61 -68 -101 -97 -288 private net resource flows 314 2,447 2,216 8,287 10,729 9,913 12,124 4,369 5,720 2,781

NET TRANSFERS 277 1,307 832 4,615 7,136 7,125 9,088 -276 1,557 -1,256Interest on long-term debt 104 918 1,364 1,185 1,070 1,326 1,501 2,082 1,809 1,592Profit remittances on FDI 0 86 387 1,892 2,185 1,401 1,467 2,462 2,256 2,156Memo: official net transfers 28 -216 -16 -869 -498 -180 -200 -239 -218 -390 private net transfers 249 1,523 848 5,484 7,634 7,304 9,288 -36 1,775 -866


Gross national income (GNI) 8,513 26,544 28,564 65,901 72,548 71,124 71,254 73,171 64,123 61,569Exports of goods, serv. & inc. (XGS) .. 6,276 10,705 21,221 22,936 21,649 22,171 24,872 23,839 23,599Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 8,360 11,387 24,811 27,116 26,030 22,714 26,197 25,460 24,578International reserves (RES) 392 4,128 6,784 15,659 18,112 16,221 14,971 15,055 14,399 15,344Current account balance .. -1,971 -485 -3,083 -3,660 -3,918 99 -766 -1,192 -553

4. DEBT INDICATORS


133CHILE


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 2,567 9,398 14,687 20,414 21,522 28,565 33,098 34,517 35,841 38,188Public and publicly guaranteed 2,066 4,705 10,425 4,883 4,367 5,005 5,655 5,255 5,581 6,792Official creditors 1,179 1,360 5,182 2,711 2,163 2,151 2,095 1,915 1,746 1,477 Multilateral 176 351 4,143 2,092 1,587 1,533 1,497 1,406 1,317 1,088 Concessional 20 50 33 21 19 17 21 13 11 9 Bilateral 1,003 1,009 1,039 619 576 619 598 509 429 388 Concessional 658 628 334 307 331 383 377 348 318 300Private creditors 887 3,345 5,242 2,172 2,205 2,854 3,559 3,341 3,835 5,315 Bonds 60 106 39 0 0 0 0 0 650 2,390 Commercial banks 291 2,420 4,747 2,152 2,132 2,784 3,490 3,273 3,182 2,898 Other private 536 818 457 20 73 70 69 68 4 27Private nonguaranteed 501 4,693 4,263 15,531 17,155 23,560 27,443 29,261 30,260 31,396 Bonds 0 0 0 2,725 3,764 4,466 5,677 6,339 7,173 7,174 Commercial banks and other 501 4,693 4,263 12,806 13,391 19,094 21,767 22,922 23,087 24,222Memo: IBRD 111 163 1,860 1,093 980 945 877 808 727 556 IDA 19 21 14 10 9 9 8 7 7 6

DISBURSEMENTS 655 3,551 2,253 6,644 6,217 6,784 5,879 4,979 6,024 7,084Public and publicly guaranteed 407 857 708 975 685 1,029 1,092 382 1,295 2,396Official creditors 130 62 650 157 167 149 164 161 122 126 Multilateral 34 46 583 126 108 94 137 113 108 126 Concessional 0 3 0 0 0 0 0 0 0 0 Bilateral 97 15 67 31 59 55 27 47 14 1 Concessional 44 3 0 31 59 55 27 17 14 1Private creditors 277 796 58 818 519 880 927 221 1,174 2,270 Bonds 0 55 0 0 0 0 0 0 650 1,708 Commercial banks 119 568 37 808 458 880 927 221 524 536 Other private 158 172 20 10 60 0 0 0 0 25Private nonguaranteed 247 2,694 1,545 5,669 5,532 5,755 4,788 4,597 4,729 4,688 Bonds 0 0 0 1,870 1,050 863 873 672 1,281 0 Commercial banks and other 247 2,694 1,545 3,799 4,482 4,892 3,914 3,925 3,448 4,688Memo: IBRD 27 14 251 75 85 70 43 48 39 30 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 207 1,462 771 4,677 2,857 2,345 3,351 3,941 4,684 6,011Public and publicly guaranteed 166 891 500 2,960 995 441 469 760 931 1,270Official creditors 75 206 356 799 541 236 247 280 242 438 Multilateral 15 15 263 719 476 173 177 177 178 376 Concessional 0 0 2 2 2 2 2 2 2 2 Bilateral 61 191 93 80 64 63 71 103 64 62 Concessional 21 69 32 28 26 30 33 34 31 29Private creditors 90 685 144 2,162 454 205 221 480 688 832 Bonds 5 3 7 0 0 0 0 0 0 0 Commercial banks 32 464 32 2,086 447 201 221 479 624 831 Other private 54 217 105 76 7 3 1 1 64 1Private nonguaranteed 41 571 271 1,717 1,862 1,904 2,882 3,181 3,754 4,741 Bonds 0 0 0 11 11 161 11 0 404 94 Commercial banks and other 41 571 271 1,706 1,851 1,743 2,871 3,181 3,350 4,647Memo: IBRD 10 9 119 263 109 105 111 115 119 202 IDA 0 0 1 1 1 1 1 1 1 1

NET FLOWS ON DEBT 448 2,090 1,481 1,967 3,360 4,439 2,529 1,038 1,340 1,073Public and publicly guaranteed 242 -34 208 -1,986 -309 588 623 -378 365 1,126Official creditors 55 -145 294 -642 -374 -87 -83 -119 -120 -311 Multilateral 19 31 319 -593 -369 -79 -39 -64 -71 -251 Concessional 0 3 -2 -2 -2 -2 -2 -2 -2 -2 Bilateral 36 -176 -25 -49 -5 -9 -44 -56 -50 -61 Concessional 23 -66 -32 3 33 24 -6 -16 -17 -29Private creditors 187 111 -86 -1,344 65 675 706 -259 485 1,437 Bonds -5 52 -7 0 0 0 0 0 650 1,708 Commercial banks 87 104 5 -1,278 11 679 707 -258 -101 -295 Other private 105 -45 -85 -66 53 -3 -1 -1 -64 24Private nonguaranteed 206 2,123 1,274 3,952 3,669 3,851 1,906 1,416 976 -53 Bonds 0 0 0 1,859 1,039 702 862 672 877 -94 Commercial banks and other 206 2,123 1,274 2,093 2,630 3,149 1,044 744 99 41Memo: IBRD 18 5 132 -188 -25 -35 -67 -67 -80 -172 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1

134CHILE


INTEREST PAYMENTS (LINT) 104 918 1,364 1,185 1,070 1,326 1,501 2,082 1,809 1,592Public and publicly guaranteed 78 483 1,112 535 292 254 311 377 299 213Official creditors 40 80 384 274 161 119 132 139 121 101 Multilateral 9 26 313 190 136 99 109 112 105 88 Concessional 0 1 1 0 0 0 0 0 0 0 Bilateral 31 54 71 84 24 21 23 27 16 14 Concessional 12 22 9 60 6 6 8 9 6 6Private creditors 39 403 729 261 131 135 180 239 178 112 Bonds 2 5 2 0 0 0 0 0 0 0 Commercial banks 19 325 688 256 130 130 175 234 175 112 Other private 17 73 39 5 1 4 4 5 3 0Private nonguaranteed 26 435 252 651 778 1,072 1,190 1,704 1,510 1,379 Bonds 0 0 0 59 192 267 321 440 499 552 Commercial banks and other 26 435 252 591 587 806 869 1,265 1,011 826Memo: IBRD 6 16 130 89 68 58 70 70 63 50 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT 343 1,171 118 781 2,290 3,113 1,027 -1,044 -469 -519Public and publicly guaranteed 163 -517 -904 -2,521 -601 335 312 -755 66 913Official creditors 15 -225 -90 -916 -535 -206 -215 -258 -241 -413 Multilateral 10 5 7 -783 -505 -177 -149 -176 -175 -338 Concessional 0 2 -3 -2 -2 -2 -2 -2 -2 -2 Bilateral 5 -230 -96 -133 -30 -29 -67 -82 -66 -74 Concessional 11 -88 -41 -57 27 19 -14 -25 -24 -35Private creditors 148 -292 -815 -1,605 -67 541 527 -498 307 1,325 Bonds -7 47 -8 0 0 0 0 0 650 1,708 Commercial banks 68 -221 -683 -1,534 -119 548 531 -492 -276 -407 Other private 87 -118 -123 -71 52 -8 -5 -6 -67 24Private nonguaranteed 180 1,688 1,022 3,302 2,891 2,779 716 -288 -535 -1,432 Bonds 0 0 0 1,800 847 435 542 232 378 -646 Commercial banks and other 180 1,688 1,022 1,502 2,043 2,343 174 -520 -913 -785Memo: IBRD 11 -11 2 -277 -93 -93 -138 -137 -143 -222 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1

DEBT SERVICE (LTDS) 311 2,380 2,135 5,863 3,927 3,671 4,852 6,023 6,494 7,603Public and publicly guaranteed 244 1,374 1,612 3,495 1,286 694 780 1,137 1,230 1,483Official creditors 115 287 740 1,073 701 355 379 418 363 539 Multilateral 24 41 576 908 613 271 286 289 283 464 Concessional 0 1 3 2 2 2 2 2 2 2 Bilateral 91 245 164 164 89 84 93 129 79 75 Concessional 33 90 41 88 32 36 41 43 38 36Private creditors 129 1,088 872 2,423 585 339 401 719 867 944 Bonds 7 8 8 0 0 0 0 0 0 0 Commercial banks 51 789 720 2,342 578 332 396 713 800 943 Other private 71 290 144 80 8 8 5 6 67 1Private nonguaranteed 67 1,006 523 2,367 2,641 2,976 4,072 4,885 5,264 6,120 Bonds 0 0 0 70 203 428 332 440 903 646 Commercial banks and other 67 1,006 523 2,297 2,438 2,549 3,740 4,446 4,361 5,473Memo: IBRD 16 25 249 352 178 163 181 185 182 252 IDA 0 0 1 1 1 1 1 1 1 1

UNDISBURSED DEBT 469 432 1,550 952 834 511 621 487 779 1,441Official creditors 180 186 1,364 861 568 214 481 298 639 699Private creditors 288 246 186 91 266 297 140 190 140 743Memorandum items Concessional LDOD 678 678 367 328 350 400 399 361 329 309 Variable rate LDOD 501 7,104 11,124 18,854 20,425 27,471 31,286 32,826 33,735 34,533 Public sector LDOD 1,978 4,587 10,421 4,883 4,367 4,865 5,515 5,175 5,501 6,712 Private sector LDOD 588 4,811 4,267 15,531 17,155 23,700 27,583 29,342 30,340 31,476



135CHILE



Total amount rescheduled .. .. 4,172 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 4,168 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 0 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 1,100 34 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,193 1,011 -240 7,366 4,094 2,779 1,350 3,547 Net flows on debt 400 2,963 1,682 1,171 2,012 4,762 2,090 2,398 1,366 2,273 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -1,100 -34 0 0 0 0 0 0 Cross-currency valuation .. .. 508 601 142 382 29 -61 -82 26 Residual .. .. 104 -726 -2,395 2,222 1,975 441 66 1,248

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.8 13.9 7.8 5.6 6.2 6.0 6.9 7.0 5.9 4.3 Maturity (years) 12.4 8.4 17.6 8.7 6.2 5.4 12.3 6.3 12.8 6.5 Grace period (years) 3.5 3.7 4.2 7.0 3.9 2.6 8.1 3.0 7.0 5.6 Grant element (%) 15.6 -18.0 12.0 22.8 13.5 11.6 18.5 9.8 20.6 21.7Official creditors Interest (%) 6.5 8.7 7.7 4.7 1.0 0.0 6.6 1.0 6.8 3.6 Maturity (years) 21.0 15.1 18.4 20.9 10.0 0.0 16.9 10.0 24.6 11.1 Grace period (years) 6.7 3.6 4.3 8.7 1.5 0.0 4.7 1.5 5.6 3.1 Grant element (%) 24.4 6.0 12.8 38.8 36.4 0.0 19.8 36.4 22.4 26.6Private creditors Interest (%) 6.9 14.4 9.3 5.6 6.3 6.0 7.0 7.0 5.6 4.3 Maturity (years) 11.1 7.7 7.6 7.7 6.1 5.4 9.9 6.3 7.9 6.0 Grace period (years) 3.0 3.7 2.3 6.8 3.9 2.6 9.9 3.0 7.6 5.8 Grant element (%) 14.3 -20.4 1.7 21.6 13.2 11.6 17.9 9.7 19.8 21.2Memorandum items Commitments 361 835 1,049 885 711 907 1,249 324 1,592 3,170 Official creditors 46 74 967 63 9 0 431 1 467 290 Private creditors 314 761 82 821 702 907 818 323 1,125 2,880


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 561 427 235 120 52 20 14 8 2 1Principal 6,972 5,196 5,357 5,670 3,589 2,100 2,288 1,343 1,044 4,855Interest 1,543 1,420 1,200 1,026 832 622 513 436 385 786Official creditors Disbursements 189 185 145 81 52 20 14 8 2 1Principal 344 197 172 142 141 137 120 138 127 81Interest 79 73 67 62 56 50 44 38 33 29 Bilateral creditors Disbursements 11 10 7 5 3 2 1 1 1 0 Principal 207 26 11 12 15 14 13 13 13 13 Interest 7 4 4 3 3 3 3 2 2 2 Multilateral creditors Disbursements 178 175 138 76 49 18 13 7 1 0 Principal 137 171 162 130 126 123 107 125 114 68 Interest 72 69 64 59 53 47 41 36 31 27Private creditors Disbursements 371 241 91 39 0 0 0 0 0 0Principal 6,627 5,000 5,185 5,528 3,448 1,964 2,168 1,205 917 4,775Interest 1,464 1,347 1,133 964 776 572 470 398 351 757 Commercial banks Disbursements 371 241 91 39 0 0 0 0 0 0 Principal 455 753 340 984 247 20 820 14 2 2 Interest 101 97 87 81 60 58 29 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 6,173 4,247 4,845 4,545 3,202 1,943 1,348 1,191 915 4,773 Interest 1,363 1,250 1,046 883 716 515 441 398 351 757

136CHINA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 55,301 128,817 146,697 144,007 152,085 145,706 170,059 168,255Long-term debt (LDOD) .. .. 45,515 103,410 115,233 126,667 136,905 132,626 128,449 120,370Public and publicly guaranteed .. .. 45,515 102,260 112,821 99,424 99,217 94,837 91,705 88,531Private nonguaranteed .. .. 0 1,150 2,412 27,243 37,688 37,789 36,744 31,839Use of IMF credit 0 0 469 0 0 0 0 0 0 0Short-term debt .. .. 9,317 25,407 31,464 17,340 15,180 13,080 41,610 47,885of which interest arrears on LDOD .. .. 0 0 0 0 0 0 0 0 Official creditors .. .. 0 0 0 0 0 0 0 0 Private creditors .. .. 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. 0 0 0 0 0 0 0 0 Official creditors .. .. 0 0 0 0 0 0 0 0 Private creditors .. .. 0 0 0 0 0 0 0 0Memo: export credits .. .. 8,076 28,724 31,951 11,847 12,498 11,661 10,458 11,264

TOTAL DEBT FLOWS Disbursements .. .. 9,665 21,114 23,976 11,148 20,384 16,754 14,781 19,058Long-term debt .. .. 9,665 21,114 23,976 11,148 20,384 16,754 14,781 19,058IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments .. .. 3,809 10,260 11,526 11,209 19,835 19,925 16,643 24,714Long-term debt .. .. 3,319 10,260 11,526 11,209 19,835 19,925 16,643 24,714IMF repurchases 0 0 490 0 0 0 0 0 0 0Net flows on debt .. .. 8,267 13,936 18,506 -14,185 -1,611 -5,271 -33 619of which short-term debt .. .. 2,410 3,082 6,057 -14,124 -2,160 -2,100 1,828 6,275Interest payments (INT) .. .. 3,248 5,496 6,918 7,226 7,028 7,167 7,655 5,902Long-term debt .. .. 2,534 4,685 5,553 5,575 5,887 5,999 6,160 4,226IMF charges 0 0 65 0 0 0 0 0 0 0Short-term debt .. .. 649 811 1,365 1,651 1,140 1,168 1,495 1,677Net transfers on debt .. .. 5,018 8,440 11,588 -21,411 -8,638 -12,438 -7,688 -5,283Total debt service paid (TDS) .. .. 7,057 15,756 18,445 18,435 26,862 27,092 24,297 30,616Long-term debt .. .. 5,853 14,944 17,080 16,784 25,722 25,924 22,802 28,939IMF repurchases and charges 0 0 555 0 0 0 0 0 0 0Short-term debt (interest only) .. .. 649 811 1,365 1,651 1,140 1,168 1,495 1,677


NET RESOURCE FLOWS .. .. 10,082 53,194 62,609 44,795 40,289 42,445 43,480 46,213Net flow of long-term debt (ex. IMF) .. .. 6,346 10,854 12,449 -61 549 -3,171 -1,861 -5,656Foreign direct investment (net) .. .. 3,487 40,180 44,237 43,751 38,753 38,399 44,241 49,308Portfolio equity flows .. .. 0 1,915 5,657 765 612 6,912 849 2,249Grants (excluding technical coop.) .. .. 249 245 266 340 375 305 251 311Memo: technical coop. grants .. .. 384 536 466 512 560 541 516 568 official net resource flows .. .. 1,975 4,646 4,581 2,627 3,762 1,802 2,407 -894 private net resource flows .. .. 8,107 48,549 58,028 42,167 36,527 40,643 41,073 47,107

NET TRANSFERS .. .. 7,502 36,831 43,745 23,181 18,363 16,248 15,832 24,164Interest on long-term debt .. .. 2,534 4,685 5,553 5,575 5,887 5,999 6,160 4,226Profit remittances on FDI .. .. 46 11,679 13,311 16,039 16,039 20,198 21,489 17,823Memo: official net transfers .. .. 1,444 3,335 2,795 815 1,827 -585 -167 -2,557 private net transfers .. .. 6,058 33,495 40,949 22,366 16,536 16,833 15,999 26,720


Gross national income (GNI) .. .. 355,609 804,053 887,240 929,657 976,886 1,066,076 1,156,541 1,251,107Exports of goods, serv. & inc. (XGS) .. .. 60,515 180,668 217,372 213,255 229,678 292,668 309,709 375,419Worker remit. & comp. of employees .. .. 124 1,672 4,589 344 530 758 1,209 2,353Imports of goods & services (MGS) .. .. 48,668 173,882 181,130 185,815 213,123 277,904 299,888 351,302International reserves (RES) .. .. 34,476 111,729 146,448 152,843 161,414 171,763 220,057 297,739Current account balance .. .. 11,997 7,243 36,963 31,472 21,115 20,518 17,401 35,422

4. DEBT INDICATORS


137CHINA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 45,515 103,410 115,233 126,667 136,905 132,626 128,449 120,370Public and publicly guaranteed .. .. 45,515 102,260 112,821 99,424 99,217 94,837 91,705 88,531Official creditors .. .. 14,514 39,433 39,755 45,146 50,444 50,367 50,494 50,739 Multilateral .. .. 6,111 17,695 18,973 22,283 23,856 25,788 26,790 27,339 Concessional .. .. 3,119 7,715 7,954 8,945 9,173 8,821 8,693 9,457 Bilateral .. .. 8,403 21,737 20,782 22,862 26,588 24,579 23,703 23,400 Concessional .. .. 6,599 11,006 10,147 20,698 23,608 21,394 20,794 20,465Private creditors .. .. 31,001 62,828 73,066 54,278 48,774 44,470 41,212 37,792 Bonds .. .. 5,425 11,106 12,616 13,941 11,029 11,371 11,852 10,568 Commercial banks .. .. 14,520 24,437 34,873 24,400 13,485 10,622 6,762 6,064 Other private .. .. 11,055 27,285 25,577 15,937 24,260 22,477 22,598 21,161Private nonguaranteed .. .. 0 1,150 2,412 27,243 37,688 37,789 36,744 31,839 Bonds .. .. 0 1,150 2,412 1,198 978 923 770 308 Commercial banks and other .. .. 0 0 0 26,045 36,710 36,866 35,974 31,531Memo: IBRD 0 0 2,865 7,616 8,239 9,644 10,400 11,118 11,550 11,254 IDA 0 0 3,016 7,579 7,830 8,693 8,907 8,771 8,654 9,423

DISBURSEMENTS .. .. 9,665 21,114 23,976 11,148 20,384 16,754 14,781 19,058Public and publicly guaranteed .. .. 9,665 20,985 22,458 10,679 12,719 9,672 8,611 4,671Official creditors .. .. 2,578 5,669 6,214 5,012 7,332 5,768 4,741 3,269 Multilateral .. .. 1,158 2,797 2,939 2,830 2,396 3,280 2,575 2,628 Concessional .. .. 511 816 715 602 493 424 319 212 Bilateral .. .. 1,420 2,872 3,275 2,182 4,936 2,487 2,167 641 Concessional .. .. 1,022 1,388 248 2,046 3,879 1,874 1,779 463Private creditors .. .. 7,087 15,316 16,244 5,667 5,387 3,904 3,870 1,402 Bonds .. .. 277 2,777 3,105 1,325 1,067 848 1,486 100 Commercial banks .. .. 3,247 4,915 5,889 1,537 890 131 348 115 Other private .. .. 3,564 7,624 7,249 2,805 3,430 2,925 2,036 1,187Private nonguaranteed .. .. 0 129 1,518 469 7,665 7,082 6,170 14,387 Bonds .. .. 0 129 1,518 469 0 0 0 0 Commercial banks and other .. .. 0 0 0 0 7,665 7,082 6,170 14,387Memo: IBRD 0 0 591 1,286 1,562 1,474 1,294 1,528 1,480 1,812 IDA 0 0 507 811 713 592 460 379 311 208

PRINCIPAL REPAYMENTS .. .. 3,319 10,260 11,526 11,209 19,835 19,925 16,643 24,714Public and publicly guaranteed .. .. 3,319 10,260 11,320 8,182 11,105 10,798 8,579 9,939Official creditors .. .. 851 1,269 1,899 2,724 3,945 4,271 2,586 4,474 Multilateral .. .. 220 414 554 575 696 1,400 1,182 3,121 Concessional .. .. 0 27 34 40 66 317 131 123 Bilateral .. .. 631 854 1,345 2,150 3,249 2,871 1,404 1,353 Concessional .. .. 145 387 385 2,031 2,883 2,346 1,143 1,104Private creditors .. .. 2,468 8,991 9,421 5,458 7,160 6,527 5,993 5,464 Bonds .. .. 325 1,716 1,087 0 2,321 443 926 1,165 Commercial banks .. .. 808 4,132 5,159 3,018 1,638 2,016 1,557 740 Other private .. .. 1,335 3,143 3,175 2,439 3,201 4,068 3,510 3,559Private nonguaranteed .. .. 0 0 207 3,027 8,730 9,127 8,064 14,775 Bonds .. .. 0 0 207 207 0 56 160 224 Commercial banks and other .. .. 0 0 0 2,820 8,730 9,071 7,904 14,551Memo: IBRD 0 0 216 343 351 396 505 578 817 2,389 IDA 0 0 0 20 26 38 53 66 87 113

NET FLOWS ON DEBT .. .. 6,346 10,854 12,449 -61 549 -3,171 -1,861 -5,656Public and publicly guaranteed .. .. 6,346 10,725 11,138 2,497 1,614 -1,126 33 -5,268Official creditors .. .. 1,727 4,401 4,315 2,288 3,387 1,497 2,156 -1,206 Multilateral .. .. 938 2,383 2,385 2,255 1,700 1,880 1,393 -494 Concessional .. .. 511 789 681 563 427 108 188 89 Bilateral .. .. 789 2,018 1,930 32 1,687 -384 763 -712 Concessional .. .. 877 1,001 -137 14 996 -471 636 -641Private creditors .. .. 4,620 6,325 6,823 209 -1,773 -2,623 -2,123 -4,062 Bonds .. .. -48 1,061 2,019 1,325 -1,254 405 560 -1,065 Commercial banks .. .. 2,439 783 730 -1,481 -748 -1,885 -1,209 -625 Other private .. .. 2,229 4,481 4,075 366 229 -1,143 -1,474 -2,372Private nonguaranteed .. .. 0 129 1,311 -2,558 -1,065 -2,045 -1,894 -388 Bonds .. .. 0 129 1,311 262 0 -56 -160 -224 Commercial banks and other .. .. 0 0 0 -2,820 -1,065 -1,989 -1,734 -164Memo: IBRD 0 0 376 943 1,211 1,078 788 950 663 -577 IDA 0 0 507 791 687 554 407 314 224 95

138CHINA


INTEREST PAYMENTS (LINT) .. .. 2,534 4,685 5,553 5,575 5,887 5,999 6,160 4,226Public and publicly guaranteed .. .. 2,534 4,631 5,498 4,612 3,692 4,075 4,244 3,071Official creditors .. .. 531 1,310 1,785 1,813 1,935 2,387 2,575 1,663 Multilateral .. .. 226 684 730 817 965 1,518 1,808 1,143 Concessional .. .. 20 56 58 60 68 69 66 68 Bilateral .. .. 305 626 1,055 995 970 869 767 520 Concessional .. .. 193 293 342 964 777 633 544 417Private creditors .. .. 2,003 3,321 3,713 2,799 1,757 1,688 1,669 1,408 Bonds .. .. 367 506 568 397 483 521 690 413 Commercial banks .. .. 959 1,351 1,441 983 274 222 202 220 Other private .. .. 677 1,464 1,704 1,419 1,000 945 777 775Private nonguaranteed .. .. 0 53 55 963 2,195 1,924 1,916 1,155 Bonds .. .. 0 53 55 42 38 23 24 72 Commercial banks and other .. .. 0 0 0 921 2,157 1,901 1,892 1,083Memo: IBRD 0 0 200 496 507 545 637 713 733 593 IDA 0 0 19 52 56 59 64 65 64 67

NET TRANSFERS ON DEBT .. .. 3,813 6,170 6,896 -5,636 -5,338 -9,170 -8,021 -9,881Public and publicly guaranteed .. .. 3,813 6,094 5,640 -2,115 -2,078 -5,201 -4,211 -8,338Official creditors .. .. 1,195 3,090 2,530 475 1,452 -891 -419 -2,868 Multilateral .. .. 712 1,699 1,654 1,438 735 362 -415 -1,637 Concessional .. .. 491 734 622 503 359 39 122 21 Bilateral .. .. 484 1,392 875 -963 717 -1,252 -4 -1,231 Concessional .. .. 684 708 -479 -950 220 -1,104 92 -1,058Private creditors .. .. 2,617 3,004 3,111 -2,590 -3,530 -4,311 -3,792 -5,470 Bonds .. .. -415 555 1,451 928 -1,737 -116 -130 -1,478 Commercial banks .. .. 1,480 -568 -711 -2,465 -1,022 -2,107 -1,411 -845 Other private .. .. 1,551 3,017 2,371 -1,053 -771 -2,088 -2,251 -3,148Private nonguaranteed .. .. 0 76 1,256 -3,521 -3,260 -3,969 -3,810 -1,543 Bonds .. .. 0 76 1,256 220 -38 -79 -184 -296 Commercial banks and other .. .. 0 0 0 -3,742 -3,222 -3,890 -3,626 -1,247Memo: IBRD 0 0 176 447 704 533 151 237 -70 -1,170 IDA 0 0 488 738 632 495 342 248 160 28

DEBT SERVICE (LTDS) .. .. 5,853 14,944 17,080 16,784 25,722 25,924 22,802 28,939Public and publicly guaranteed .. .. 5,853 14,891 16,817 12,794 14,797 14,873 12,822 13,009Official creditors .. .. 1,382 2,579 3,684 4,537 5,880 6,658 5,160 6,137 Multilateral .. .. 446 1,099 1,285 1,392 1,660 2,919 2,989 4,265 Concessional .. .. 20 82 92 100 134 385 196 191 Bilateral .. .. 937 1,480 2,400 3,145 4,219 3,740 2,171 1,872 Concessional .. .. 338 680 728 2,996 3,660 2,979 1,687 1,520Private creditors .. .. 4,470 12,312 13,133 8,257 8,917 8,215 7,662 6,872 Bonds .. .. 692 2,223 1,655 397 2,804 964 1,616 1,578 Commercial banks .. .. 1,766 5,483 6,600 4,002 1,912 2,238 1,759 960 Other private .. .. 2,012 4,607 4,879 3,858 4,201 5,013 4,287 4,335Private nonguaranteed .. .. 0 53 262 3,990 10,925 11,051 9,980 15,930 Bonds .. .. 0 53 262 249 38 79 184 296 Commercial banks and other .. .. 0 0 0 3,742 10,887 10,972 9,796 15,634Memo: IBRD 0 0 415 840 858 941 1,142 1,291 1,550 2,981 IDA 0 0 19 73 81 97 117 131 151 180

UNDISBURSED DEBT .. .. 9,298 17,906 16,883 22,267 21,095 14,562 10,775 10,872Official creditors .. .. 5,280 12,141 11,512 21,758 20,607 14,163 10,775 9,072Private creditors .. .. 4,019 5,765 5,371 509 488 399 0 1,800Memorandum items Concessional LDOD .. .. 9,718 18,722 18,101 29,643 32,781 30,215 29,486 29,922 Variable rate LDOD .. .. 16,491 30,652 45,217 62,139 60,538 61,733 59,388 53,732 Public sector LDOD .. .. 45,449 101,163 111,740 99,424 99,217 94,837 91,705 88,531 Private sector LDOD .. .. 66 2,247 3,493 27,243 37,688 37,789 36,744 31,839



139CHINA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 10,369 10,727 17,880 -2,690 8,079 -6,379 24,353 -1,804 Net flows on debt .. .. 8,267 13,936 18,506 -14,185 -1,611 -5,271 -33 619 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 1,415 -3,793 -3,502 2,253 964 -3,118 -2,921 3,357 Residual .. .. 687 584 2,875 9,242 8,726 2,010 606 -5,781

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. 7.5 6.6 6.5 6.2 6.1 6.6 5.9 5.7 Maturity (years) .. .. 16.6 10.1 10.1 15.2 13.9 12.6 12.4 13.9 Grace period (years) .. .. 3.9 2.9 3.2 3.4 3.1 2.5 3.8 3.0 Grant element (%) .. .. 15.6 14.2 14.8 20.5 19.7 15.0 20.5 23.1Official creditors Interest (%) .. .. 3.7 5.9 6.6 5.9 5.5 7.2 5.7 4.2 Maturity (years) .. .. 27.9 21.2 19.1 21.6 23.3 21.1 21.3 20.7 Grace period (years) .. .. 7.9 4.5 3.9 5.6 6.1 4.9 4.7 5.0 Grant element (%) .. .. 49.2 27.7 21.2 27.8 31.9 17.5 27.7 38.1Private creditors Interest (%) .. .. 8.6 6.8 6.4 6.4 6.3 6.5 5.9 6.5 Maturity (years) .. .. 13.3 7.0 6.4 10.6 10.4 10.1 9.7 9.7 Grace period (years) .. .. 2.7 2.4 2.9 1.8 1.9 1.8 3.5 1.8 Grant element (%) .. .. 5.7 10.5 12.2 15.3 15.1 14.2 18.3 13.9Memorandum items Commitments .. .. 9,988 22,438 22,108 8,029 10,967 10,702 7,371 5,165 Official creditors .. .. 2,288 4,886 6,323 3,357 3,020 2,438 1,733 1,963 Private creditors .. .. 7,701 17,552 15,785 4,671 7,947 8,265 5,638 3,202


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 4,439 2,080 1,508 1,134 768 504 302 99 38 1Principal 19,387 17,419 16,934 17,111 12,619 5,801 4,639 4,520 5,540 3,252Interest 4,897 4,264 3,612 2,919 2,207 1,639 1,394 1,174 967 822Official creditors Disbursements 2,638 2,080 1,508 1,134 768 504 302 99 38 1Principal 4,002 4,082 3,946 4,068 3,953 3,499 3,462 3,345 3,187 3,108Interest 1,809 1,738 1,641 1,548 1,427 1,293 1,166 1,037 915 799 Bilateral creditors Disbursements 502 259 37 13 0 0 0 0 0 0 Principal 2,608 2,496 2,205 2,171 2,006 1,513 1,505 1,374 1,177 1,114 Interest 852 777 695 611 528 454 393 332 282 239 Multilateral creditors Disbursements 2,137 1,821 1,471 1,121 768 504 302 99 38 1 Principal 1,394 1,586 1,741 1,897 1,947 1,986 1,957 1,971 2,011 1,994 Interest 957 961 946 937 899 839 773 704 633 560Private creditors Disbursements 1,800 0 0 0 0 0 0 0 0 0Principal 15,385 13,337 12,988 13,042 8,666 2,302 1,177 1,175 2,352 144Interest 3,088 2,526 1,971 1,371 780 346 228 138 52 23 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,005 996 996 981 964 105 103 101 92 92 Interest 116 97 77 58 38 24 21 19 16 14 Other private Disbursements 1,800 0 0 0 0 0 0 0 0 0 Principal 14,381 12,341 11,992 12,061 7,702 2,197 1,074 1,075 2,260 52 Interest 2,971 2,429 1,894 1,313 742 323 207 119 36 9

140COLOMBIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 2,236 6,941 17,222 28,900 31,941 33,083 34,424 33,934 36,699 33,853Long-term debt (LDOD) 1,580 4,604 15,784 23,016 26,182 26,851 30,459 31,062 32,961 30,052Public and publicly guaranteed 1,297 4,089 14,671 14,854 15,436 16,749 20,220 20,803 21,777 21,177Private nonguaranteed 283 515 1,113 8,162 10,746 10,101 10,239 10,259 11,184 8,876Use of IMF credit 55 0 0 0 0 0 0 0 0 0Short-term debt 602 2,337 1,438 5,884 5,759 6,232 3,965 2,871 3,738 3,800of which interest arrears on LDOD 0 0 28 0 0 0 0 0 0 0 Official creditors 0 0 17 0 0 0 0 0 0 0 Private creditors 0 0 11 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 409 42 38 42 46 42 38 41 Official creditors 0 0 42 31 28 31 37 33 30 32 Private creditors 0 0 367 11 10 10 9 9 8 9Memo: export credits 0 0 3,908 3,370 3,107 1,316 1,125 866 821 744

TOTAL DEBT FLOWS Disbursements 361 1,074 1,994 7,422 6,243 2,937 7,463 3,804 6,016 3,436Long-term debt 332 1,074 1,994 7,422 6,243 2,937 7,463 3,804 6,016 3,436IMF purchases 29 0 0 0 0 0 0 0 0 0Principal repayments 225 263 2,189 3,365 2,501 2,590 3,934 2,902 3,622 4,740Long-term debt 153 263 2,189 3,365 2,501 2,590 3,934 2,902 3,622 4,740IMF repurchases 73 0 0 0 0 0 0 0 0 0Net flows on debt 136 1,136 -399 4,397 3,618 820 1,262 -192 3,261 -1,241of which short-term debt 0 325 -204 341 -125 473 -2,267 -1,094 867 62Interest payments (INT) 62 688 1,701 2,036 2,011 1,949 2,672 2,204 2,690 2,181Long-term debt 62 310 1,558 1,722 1,662 1,601 2,387 2,032 2,528 2,019IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt 0 378 143 314 349 348 285 172 162 162Net transfers on debt 74 447 -2,100 2,361 1,607 -1,129 -1,410 -2,396 572 -3,422Total debt service paid (TDS) 287 951 3,889 5,401 4,511 4,539 6,606 5,106 6,311 6,921Long-term debt 215 573 3,746 5,087 4,162 4,191 6,321 4,934 6,150 6,759IMF repurchases and charges 73 0 0 0 0 0 0 0 0 0Short-term debt (interest only) 0 378 143 314 349 348 285 172 162 162


NET RESOURCE FLOWS 245 976 340 7,541 9,671 3,286 5,114 3,298 4,950 830Net flow of long-term debt (ex. IMF) 179 811 -195 4,057 3,742 346 3,529 903 2,394 -1,303Foreign direct investment (net) 43 157 500 3,112 5,562 2,829 1,508 2,299 2,509 2,023Portfolio equity flows 0 0 0 292 278 47 -27 17 -42 17Grants (excluding technical coop.) 23 8 35 81 89 64 104 79 89 94Memo: technical coop. grants 14 46 79 91 75 117 224 183 360 414 official net resource flows 175 288 -5 -30 -363 242 1,117 183 1,172 -117 private net resource flows 70 688 345 7,571 10,034 3,044 3,997 3,115 3,778 947

NET TRANSFERS 89 556 -2,182 5,177 7,440 1,714 3,014 610 1,536 -2,176Interest on long-term debt 62 310 1,558 1,722 1,662 1,601 2,387 2,032 2,528 2,019Profit remittances on FDI 94 110 964 643 570 -29 -288 655 886 988Memo: official net transfers 138 160 -632 -498 -769 -128 410 -359 610 -610 private net transfers -48 396 -1,550 5,674 8,209 1,843 2,604 969 925 -1,566


Gross national income (GNI) 6,995 33,185 38,193 95,093 104,346 96,721 84,767 81,463 79,126 78,108Exports of goods, serv. & inc. (XGS) 1,025 5,928 9,514 14,619 15,898 15,172 16,198 18,285 17,788 17,217Worker remit. & comp. of employees 26 106 495 753 774 806 1,312 1,603 1,957 2,372Imports of goods & services (MGS) 1,348 6,231 9,510 19,221 21,604 19,992 15,684 17,751 19,370 18,911International reserves (RES) 207 6,474 4,869 9,938 9,907 8,754 8,103 9,006 10,244 10,844Current account balance -293 -206 542 -4,642 -5,751 -4,858 671 626 -1,251 -1,639

4. DEBT INDICATORS

EDT / XGS (%) 218.2 117.1 181.0 197.7 200.9 218.0 212.5 185.6 206.3 196.6EDT / GNI (%) 32.0 20.9 45.1 30.4 30.6 34.2 40.6 41.7 46.4 43.3TDS / XGS (%) 28.0 16.0 40.9 36.9 28.4 29.9 40.8 27.9 35.5 40.2INT / XGS (%) 6.0 11.6 17.9 13.9 12.6 12.8 16.5 12.1 15.1 12.7INT / GNI (%) 0.9 2.1 4.5 2.1 1.9 2.0 3.2 2.7 3.4 2.8RES / EDT (%) 9.3 93.3 28.3 34.4 31.0 26.5 23.5 26.5 27.9 32.0RES / MGS (months) 1.8 12.5 6.1 6.2 5.5 5.3 6.2 6.1 6.3 6.9Short-term / EDT (%) 26.9 33.7 8.4 20.4 18.0 18.8 11.5 8.5 10.2 11.2Concessional / EDT (%) 28.1 14.2 5.7 3.3 2.8 2.7 2.8 2.8 2.4 2.7Multilateral / EDT (%) 19.9 19.5 35.4 16.5 12.8 14.0 18.5 18.5 19.8 21.6

141COLOMBIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 1,580 4,604 15,784 23,016 26,182 26,851 30,459 31,062 32,961 30,052Public and publicly guaranteed 1,297 4,089 14,671 14,854 15,436 16,749 20,220 20,803 21,777 21,177Official creditors 1,112 2,393 8,540 6,503 5,622 6,018 7,830 7,726 8,591 8,657 Multilateral 445 1,350 6,103 4,765 4,084 4,624 6,361 6,278 7,255 7,320 Concessional 25 89 219 152 145 131 117 104 90 75 Bilateral 667 1,043 2,437 1,738 1,538 1,394 1,470 1,448 1,336 1,337 Concessional 604 899 769 790 745 755 850 860 798 845Private creditors 185 1,696 6,131 8,351 9,814 10,732 12,390 13,077 13,185 12,519 Bonds 21 31 275 3,410 4,366 5,789 6,941 8,201 10,226 10,713 Commercial banks 24 1,371 4,208 4,095 4,727 4,357 4,615 4,245 2,270 1,286 Other private 140 294 1,648 847 721 585 834 632 689 519Private nonguaranteed 283 515 1,113 8,162 10,746 10,101 10,239 10,259 11,184 8,876 Bonds 0 0 0 820 809 821 885 762 658 658 Commercial banks and other 283 515 1,113 7,341 9,937 9,280 9,354 9,497 10,526 8,218Memo: IBRD 354 991 3,859 2,177 1,723 1,740 1,960 1,920 2,006 2,348 IDA 20 21 14 10 10 9 8 7 7 6

DISBURSEMENTS 332 1,074 1,994 7,422 6,243 2,937 7,463 3,804 6,016 3,436Public and publicly guaranteed 332 1,019 1,847 3,461 2,980 2,937 6,519 2,940 5,255 2,142Official creditors 194 416 697 880 603 852 1,758 661 1,602 756 Multilateral 74 302 559 428 488 811 1,550 509 1,520 699 Concessional 0 37 3 0 5 0 0 0 0 0 Bilateral 120 113 139 452 115 41 208 152 82 57 Concessional 101 9 26 50 35 8 105 97 54 45Private creditors 138 603 1,150 2,581 2,377 2,085 4,761 2,279 3,653 1,386 Bonds 0 0 0 1,928 1,144 1,717 1,750 1,804 3,045 1,257 Commercial banks 88 500 874 509 1,138 329 1,433 469 379 120 Other private 50 102 275 145 95 39 1,578 5 230 9Private nonguaranteed 0 55 147 3,960 3,263 0 944 865 761 1,294 Bonds 0 0 0 108 0 0 176 0 0 0 Commercial banks and other 0 55 147 3,852 3,263 0 768 865 761 1,294Memo: IBRD 58 218 213 152 189 184 488 266 368 480 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 153 263 2,189 3,365 2,501 2,590 3,934 2,902 3,622 4,740Public and publicly guaranteed 94 250 1,875 2,018 1,833 1,934 3,114 2,069 2,721 3,446Official creditors 42 136 737 991 1,055 674 745 558 519 966 Multilateral 22 80 527 613 833 437 511 441 402 855 Concessional 0 1 12 13 12 14 14 14 14 15 Bilateral 20 57 210 377 222 237 234 116 117 111 Concessional 7 30 36 38 35 29 42 44 47 43Private creditors 52 114 1,138 1,027 778 1,260 2,369 1,512 2,202 2,480 Bonds 3 3 4 192 76 379 566 469 985 1,190 Commercial banks 21 52 849 570 502 700 1,175 839 1,031 1,104 Other private 28 59 284 265 200 181 629 204 187 186Private nonguaranteed 59 13 314 1,347 667 656 820 832 900 1,294 Bonds 0 0 0 0 0 0 125 110 98 0 Commercial banks and other 59 13 314 1,347 667 656 695 722 802 1,294Memo: IBRD 17 65 434 350 437 232 270 242 232 231 IDA 0 0 1 1 1 1 1 1 1 1

NET FLOWS ON DEBT 179 811 -195 4,057 3,742 346 3,529 903 2,394 -1,303Public and publicly guaranteed 238 769 -28 1,443 1,147 1,003 3,405 870 2,534 -1,304Official creditors 152 280 -40 -111 -452 178 1,013 103 1,083 -210 Multilateral 52 223 32 -186 -345 374 1,039 67 1,117 -156 Concessional 0 37 -8 -13 -7 -14 -14 -14 -14 -15 Bilateral 100 57 -72 75 -107 -196 -26 36 -35 -54 Concessional 94 -21 -10 12 0 -21 63 53 7 2Private creditors 86 489 12 1,554 1,599 825 2,392 767 1,451 -1,094 Bonds -3 -3 -4 1,736 1,068 1,337 1,184 1,335 2,059 67 Commercial banks 67 449 25 -61 636 -371 258 -369 -651 -984 Other private 22 43 -9 -121 -105 -141 950 -199 43 -177Private nonguaranteed -59 42 -167 2,613 2,595 -656 124 32 -139 0 Bonds 0 0 0 108 0 0 51 -110 -98 0 Commercial banks and other -59 42 -167 2,505 2,595 -656 73 142 -41 0Memo: IBRD 41 152 -221 -198 -248 -48 218 25 136 249 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1

142COLOMBIA


INTEREST PAYMENTS (LINT) 62 310 1,558 1,722 1,662 1,601 2,387 2,032 2,528 2,019Public and publicly guaranteed 47 279 1,240 843 885 977 1,656 1,414 1,690 1,524Official creditors 37 128 627 468 406 370 707 541 561 493 Multilateral 25 102 476 366 314 286 497 470 493 438 Concessional 0 2 6 4 3 3 3 3 2 2 Bilateral 12 26 150 102 91 84 210 71 68 55 Concessional 8 21 19 26 24 24 16 26 26 24Private creditors 10 151 613 375 479 607 949 873 1,128 1,030 Bonds 1 2 27 43 145 250 287 515 867 894 Commercial banks 3 128 461 254 269 303 492 298 199 95 Other private 6 21 124 78 66 55 170 59 62 42Private nonguaranteed 15 31 318 879 776 623 732 618 838 495 Bonds 0 0 0 78 82 82 82 84 79 75 Commercial banks and other 15 31 318 801 695 542 649 534 759 420Memo: IBRD 20 79 318 170 137 115 121 126 133 115 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT 118 501 -1,753 2,335 2,081 -1,254 1,142 -1,129 -134 -3,322Public and publicly guaranteed 192 490 -1,268 601 262 25 1,749 -544 844 -2,827Official creditors 115 152 -666 -578 -858 -192 307 -438 521 -703 Multilateral 27 121 -445 -551 -659 88 542 -403 624 -594 Concessional -1 35 -14 -16 -10 -17 -17 -16 -16 -16 Bilateral 88 30 -222 -27 -199 -280 -236 -35 -102 -110 Concessional 86 -42 -29 -14 -23 -45 47 27 -20 -22Private creditors 77 338 -601 1,179 1,120 217 1,443 -106 323 -2,124 Bonds -3 -5 -32 1,693 924 1,088 897 820 1,192 -827 Commercial banks 64 321 -436 -315 367 -674 -234 -667 -850 -1,079 Other private 16 22 -133 -199 -171 -196 780 -258 -19 -218Private nonguaranteed -74 11 -485 1,734 1,819 -1,279 -608 -586 -978 -495 Bonds 0 0 0 30 -82 -82 -32 -194 -177 -75 Commercial banks and other -74 11 -485 1,704 1,901 -1,198 -576 -391 -800 -420Memo: IBRD 21 74 -538 -368 -385 -163 98 -102 3 134 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1

DEBT SERVICE (LTDS) 215 573 3,746 5,087 4,162 4,191 6,321 4,934 6,150 6,759Public and publicly guaranteed 141 529 3,115 2,860 2,718 2,911 4,770 3,484 4,411 4,969Official creditors 79 264 1,364 1,458 1,461 1,044 1,452 1,099 1,080 1,459 Multilateral 47 181 1,003 979 1,148 723 1,008 912 896 1,293 Concessional 1 2 18 17 15 17 17 16 16 16 Bilateral 32 83 361 479 313 321 444 187 184 167 Concessional 15 51 55 64 58 53 58 70 73 67Private creditors 62 265 1,751 1,402 1,257 1,867 3,318 2,385 3,331 3,510 Bonds 3 5 32 235 220 629 853 985 1,853 2,084 Commercial banks 24 179 1,311 824 771 1,002 1,667 1,137 1,230 1,199 Other private 34 80 409 343 266 236 798 263 249 227Private nonguaranteed 74 44 632 2,226 1,444 1,279 1,551 1,450 1,739 1,790 Bonds 0 0 0 78 82 82 207 194 177 75 Commercial banks and other 74 44 632 2,148 1,362 1,198 1,344 1,256 1,561 1,714Memo: IBRD 37 144 751 520 573 347 390 368 365 345 IDA 0 0 1 1 1 1 1 1 1 1

UNDISBURSED DEBT 576 2,455 4,034 2,390 2,071 2,114 2,466 2,923 2,154 1,624Official creditors 424 1,781 3,468 2,193 2,014 2,111 2,452 2,280 2,108 1,612Private creditors 153 673 567 197 57 3 13 643 45 12Memorandum items Concessional LDOD 629 988 988 943 890 886 968 964 888 920 Variable rate LDOD 283 1,877 7,778 14,541 17,473 17,146 19,350 19,377 18,898 15,904 Public sector LDOD 1,224 4,045 14,630 14,848 15,431 16,744 20,215 20,798 21,772 21,175 Private sector LDOD 356 559 1,154 8,167 10,752 10,107 10,244 10,264 11,188 8,877



143COLOMBIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 336 3,852 3,042 1,142 1,341 -491 2,765 -2,846 Net flows on debt 136 1,136 -399 4,397 3,618 820 1,262 -192 3,261 -1,241 Net change in interest arrears .. .. 25 -2 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -2 0 0 0 0 0 0 0 Cross-currency valuation .. .. 494 -651 -657 396 -71 -272 -276 737 Residual .. .. 218 107 81 -74 150 -27 -220 -2,341

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.0 12.9 8.0 7.2 7.3 7.9 7.2 7.9 8.7 9.1 Maturity (years) 21.1 15.5 16.5 9.1 11.9 8.2 9.9 10.7 12.5 10.2 Grace period (years) 4.8 4.4 4.6 5.8 7.6 5.5 6.0 6.2 8.0 7.8 Grant element (%) 25.8 -20.2 12.2 12.7 13.3 8.6 12.7 4.7 8.1 4.1Official creditors Interest (%) 5.2 8.8 7.5 6.8 7.2 7.8 4.9 8.6 5.5 4.6 Maturity (years) 29.8 18.0 18.7 17.3 18.2 11.6 10.8 12.6 18.7 15.4 Grace period (years) 7.2 4.3 5.4 4.6 4.4 3.8 4.3 3.7 6.0 4.6 Grant element (%) 36.9 7.2 15.5 19.0 16.4 10.6 24.2 7.4 28.8 31.6Private creditors Interest (%) 7.2 15.4 9.3 7.3 7.4 8.0 9.2 7.7 10.4 10.3 Maturity (years) 7.2 13.9 10.1 7.1 10.4 6.5 9.1 10.1 9.2 8.8 Grace period (years) 1.1 4.5 2.2 6.1 8.4 6.3 7.4 7.0 9.1 8.7 Grant element (%) 7.9 -37.2 2.3 11.1 12.5 7.6 3.0 3.9 -3.3 -2.9Memorandum items Commitments 363 1,561 1,269 3,064 2,769 3,111 4,364 3,782 4,814 1,699 Official creditors 224 597 950 607 532 1,032 1,995 874 1,709 344 Private creditors 139 964 318 2,457 2,237 2,079 2,370 2,908 3,104 1,355


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 533 387 287 179 97 61 39 24 12 4Principal 5,876 3,724 2,922 2,785 2,675 3,048 2,015 1,344 2,109 609Interest 1,890 1,655 1,506 1,341 1,169 896 746 630 467 357Official creditors Disbursements 521 387 287 179 97 61 39 24 12 4Principal 1,319 990 878 817 837 796 670 654 658 467Interest 423 390 353 314 273 232 193 159 126 98 Bilateral creditors Disbursements 23 5 5 0 0 0 0 0 0 0 Principal 148 140 125 119 118 118 117 80 65 23 Interest 52 46 41 35 30 25 19 15 10 8 Multilateral creditors Disbursements 498 382 282 179 97 61 39 24 12 4 Principal 1,170 850 754 699 719 678 553 574 592 443 Interest 370 343 313 278 244 207 173 145 116 91Private creditors Disbursements 12 1 0 0 0 0 0 0 0 0Principal 4,558 2,734 2,044 1,968 1,838 2,253 1,345 690 1,451 142Interest 1,467 1,265 1,153 1,027 895 664 554 470 340 258 Commercial banks Disbursements 11 0 0 0 0 0 0 0 0 0 Principal 600 385 138 57 38 24 24 19 2 2 Interest 53 27 11 6 4 2 2 1 1 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3,958 2,349 1,906 1,911 1,800 2,229 1,321 671 1,450 141 Interest 1,414 1,238 1,142 1,022 891 662 552 469 340 257

144COMOROS


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 0.0 13.0 5.4 9.6 5.8 4.2 0.7 3.1 11.6 12.2Long-term debt 0.0 13.0 5.4 9.6 5.8 4.2 0.7 3.1 11.6 12.2IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 0.0 0.0 0.2 0.8 1.5 1.6 2.2 1.4 1.5 3.9Long-term debt 0.0 0.0 0.2 0.8 1.2 1.4 1.8 0.8 1.0 3.6IMF repurchases 0.0 0.0 0.0 0.0 0.2 0.2 0.4 0.6 0.6 0.4Net flows on debt 0.0 13.0 2.2 6.9 9.3 -1.4 4.4 3.7 4.1 11.3of which short-term debt 0.0 0.0 -3.0 -2.0 5.0 -3.9 5.9 2.0 -6.0 3.0Interest payments (INT) 0.0 0.4 0.8 0.6 0.8 0.4 0.9 1.3 0.8 0.9Long-term debt 0.0 0.3 0.7 0.6 0.5 0.4 0.7 0.8 0.6 0.8IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 0.1 0.2 0.1 0.3 0.1 0.2 0.5 0.2 0.1Net transfers on debt -0.1 12.6 1.3 6.2 8.5 -1.8 3.5 2.4 3.2 10.4Total debt service paid (TDS) 0.1 0.4 1.1 1.4 2.3 2.0 3.1 2.7 2.3 4.8Long-term debt 0.1 0.3 0.9 1.4 1.8 1.7 2.5 1.6 1.6 4.4IMF repurchases and charges 0.0 0.0 0.0 0.0 0.3 0.3 0.4 0.6 0.6 0.4Short-term debt (interest only) 0.0 0.1 0.2 0.1 0.3 0.1 0.2 0.5 0.2 0.1


NET RESOURCE FLOWS 3.0 30.8 33.3 24.9 16.9 30.2 14.5 13.9 21.7 23.1Net flow of long-term debt (ex. IMF) 0.0 13.0 5.2 8.9 4.6 2.8 -1.1 2.3 10.6 8.6Foreign direct investment (net) 0.0 0.0 0.4 0.5 0.0 3.2 0.3 0.9 0.0 1.5Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 3.1 17.8 27.7 15.5 12.3 24.2 15.3 10.7 11.0 13.0Memo: technical coop. grants 4.8 7.0 15.8 17.3 12.1 10.8 10.0 8.4 8.4 10.4 official net resource flows 3.0 30.4 32.9 24.4 16.9 27.0 14.2 13.0 21.7 21.6 private net resource flows 0.0 0.4 0.4 0.5 0.0 3.2 0.3 0.9 0.0 1.5

NET TRANSFERS 3.0 30.5 32.0 23.9 16.0 29.6 13.5 12.9 20.7 22.1Interest on long-term debt 0.0 0.3 0.7 0.6 0.5 0.4 0.7 0.8 0.6 0.8Profit remittances on FDI 0.0 0.0 0.6 0.4 0.4 0.3 0.3 0.2 0.4 0.2Memo: official net transfers 3.0 30.1 32.2 23.8 16.4 26.7 13.5 12.2 21.1 20.8 private net transfers 0.0 0.4 -0.2 0.1 -0.4 2.9 0.0 0.7 -0.4 1.3


Gross national income (GNI) 24.7 124.1 261.8 230.9 212.3 215.2 223.1 204.7 222.9 255.4Exports of goods, serv. & inc. (XGS) .. 15.7 48.1 .. .. .. .. .. .. ..Worker remit. & comp. of employees 0.0 2.0 9.9 12.2 12.2 12.2 12.2 12.2 12.2 12.2Imports of goods & services (MGS) .. 34.3 93.4 .. .. .. .. .. .. ..International reserves (RES) .. 6.4 29.9 50.9 40.8 39.1 37.1 43.2 62.3 79.9Current account balance .. -8.9 -10.5 .. .. .. .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 280.5 389.1 .. .. .. .. .. .. ..EDT / GNI (%) 4.7 35.4 71.5 94.3 103.4 105.5 102.3 113.2 108.9 105.8TDS / XGS (%) .. 2.6 2.3 .. .. .. .. .. .. ..INT / XGS (%) .. 2.6 1.7 .. .. .. .. .. .. ..INT / GNI (%) 0.1 0.3 0.3 0.3 0.4 0.2 0.4 0.6 0.4 0.4RES / EDT (%) .. 14.5 16.0 23.4 18.6 17.2 16.3 18.6 25.7 29.6RES / MGS (months) .. 2.2 3.8 .. .. .. .. .. .. ..Short-term / EDT (%) 0.0 2.3 6.6 4.3 6.3 5.7 8.7 12.2 10.0 11.0Concessional / EDT (%) 100.0 96.8 86.0 90.1 88.6 89.3 86.3 83.4 86.5 85.6Multilateral / EDT (%) 0.0 48.2 60.9 73.8 72.6 74.2 72.2 69.4 68.9 70.0

145COMOROS


5. LONG-TERM DEBT




NET FLOWS ON DEBT 0.0 13.0 5.2 8.9 4.6 2.8 -1.1 2.3 10.6 8.6Public and publicly guaranteed 0.0 13.0 5.2 8.9 4.6 2.8 -1.1 2.3 10.6 8.6Official creditors 0.0 12.6 5.2 8.9 4.6 2.8 -1.1 2.3 10.6 8.6 Multilateral 0.0 6.1 1.0 8.9 4.8 3.7 -0.1 2.3 10.6 9.3 Concessional 0.0 6.1 1.0 8.9 4.8 3.7 -0.1 2.3 10.6 9.3 Bilateral 0.0 6.5 4.1 0.0 -0.2 -0.9 -1.0 0.0 0.0 -0.7 Concessional 0.0 6.5 4.1 0.0 -0.2 -0.9 -1.0 0.0 0.0 -0.7Private creditors 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 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 0.0 0.0 Other private 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 1.8 0.6 6.1 4.8 2.8 -0.6 1.4 10.8 11.1

146COMOROS



NET TRANSFERS ON DEBT -0.1 12.7 4.5 8.3 4.0 2.5 -1.7 1.5 10.0 7.8Public and publicly guaranteed -0.1 12.7 4.5 8.3 4.0 2.5 -1.7 1.5 10.0 7.8Official creditors -0.1 12.3 4.5 8.3 4.0 2.5 -1.7 1.5 10.0 7.8 Multilateral 0.0 6.1 0.6 8.3 4.3 3.4 -0.8 1.5 10.0 8.6 Concessional 0.0 6.1 0.6 8.3 4.3 3.4 -0.8 1.5 10.0 8.6 Bilateral -0.1 6.2 3.9 0.0 -0.2 -0.9 -1.0 0.0 0.0 -0.8 Concessional -0.1 6.2 3.9 0.0 -0.2 -0.9 -1.0 0.0 0.0 -0.8Private creditors 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 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 0.0 0.0 Other private 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 1.7 0.3 5.6 4.3 2.6 -1.1 0.6 10.2 10.5





147COMOROS




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 11.0 4.2 1.7 7.6 1.2 3.4 11.1 27.4 Net flows on debt 0.0 13.0 2.2 6.9 9.3 -1.4 4.4 3.7 4.1 11.3 Net change in interest arrears .. .. 2.6 1.4 -0.5 2.9 1.1 6.5 1.8 2.5 Interest capitalized .. .. 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -0.1 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 1.7 -6.9 -11.9 -1.8 -7.2 -9.0 -2.9 8.8 Residual .. .. 4.6 2.9 4.9 7.9 2.9 2.3 8.1 4.8



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


148CONGO, DEMOCRATIC REPUBLIC OF


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 342 4,773 10,259 12,830 12,337 13,203 12,048 11,692 11,519 8,726Long-term debt (LDOD) 308 4,071 8,994 9,275 8,628 9,214 8,262 7,880 7,587 7,391Public and publicly guaranteed 308 4,071 8,994 9,275 8,628 9,214 8,262 7,880 7,587 7,391Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 373 521 433 406 423 412 391 377 571Short-term debt 34 329 744 3,121 3,302 3,565 3,374 3,421 3,555 764of which interest arrears on LDOD 0 33 265 2,998 2,937 3,213 3,015 3,042 3,174 461 Official creditors 0 24 166 2,675 2,620 2,890 2,833 2,863 2,997 409 Private creditors 0 8 99 324 318 323 181 179 177 53Memo: principal arrears on LDOD 0 36 1,050 4,686 4,662 5,145 4,894 4,949 5,279 912 Official creditors 0 13 376 3,865 3,850 4,279 4,402 4,461 4,798 769 Private creditors 0 23 674 821 811 866 492 488 482 143Memo: export credits 0 0 4,604 5,247 5,659 4,074 3,961 4,119 4,113 4,557

TOTAL DEBT FLOWS Disbursements 32 603 315 3 0 0 8 0 0 959Long-term debt 32 463 315 3 0 0 8 0 0 415IMF purchases 0 140 0 0 0 0 0 0 0 544Principal repayments 25 277 201 36 0 1 1 0 0 637Long-term debt 25 192 49 0 0 0 0 0 0 248IMF repurchases 0 85 152 36 0 1 1 0 0 388Net flows on debt 6 278 88 -91 242 -13 13 20 2 244of which short-term debt 0 -48 -27 -58 242 -13 7 20 2 -78Interest payments (INT) 9 265 147 12 13 19 20 25 18 290Long-term debt 9 205 88 0 0 0 0 0 0 164IMF charges 0 15 38 5 0 0 2 0 0 113Short-term debt 0 45 21 7 12 18 18 25 17 14Net transfers on debt -3 13 -60 -103 229 -32 -6 -4 -16 -46Total debt service paid (TDS) 34 542 348 48 13 19 21 25 18 927Long-term debt 34 397 137 0 0 0 0 0 0 412IMF repurchases and charges 0 101 190 42 0 1 3 0 0 501Short-term debt (interest only) 0 45 21 7 12 18 18 25 17 14


NET RESOURCE FLOWS 51 477 626 152 68 158 113 160 198 646Net flow of long-term debt (ex. IMF) 6 271 266 3 0 0 8 0 0 167Foreign direct investment (net) 6 110 -15 25 -44 61 11 23 1 32Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 38 96 374 124 113 97 94 137 197 447Memo: technical coop. grants 42 168 146 58 49 40 58 54 72 92 official net resource flows 45 195 652 127 113 97 101 137 197 614 private net resource flows 6 283 -26 25 -44 61 11 23 1 32

NET TRANSFERS 42 199 501 121 44 139 93 147 188 477Interest on long-term debt 9 205 88 0 0 0 0 0 0 164Profit remittances on FDI 0 74 37 30 24 19 19 13 10 5Memo: official net transfers 40 89 576 127 113 97 101 137 197 450 private net transfers 2 110 -75 -6 -69 43 -8 10 -9 27


Gross national income (GNI) 4,721 13,895 8,579 5,398 2,879 5,759 4,056 4,466 4,774 5,501Exports of goods, serv. & inc. (XGS) .. .. .. .. .. .. .. .. .. ..Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. .. .. .. .. .. .. .. .. ..International reserves (RES) 189 380 261 83 .. .. .. .. .. ..Current account balance .. .. .. .. .. .. .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. .. .. .. .. .. .. ..EDT / GNI (%) 7.2 34.3 119.6 237.7 428.5 229.2 297.0 261.8 241.3 158.6TDS / XGS (%) .. .. .. .. .. .. .. .. .. ..INT / XGS (%) .. .. .. .. .. .. .. .. .. ..INT / GNI (%) 0.2 1.9 1.7 0.2 0.4 0.3 0.5 0.6 0.4 5.3RES / EDT (%) 55.4 8.0 2.5 0.6 .. .. .. .. .. ..RES / MGS (months) .. .. .. .. .. .. .. .. .. ..Short-term / EDT (%) 9.9 6.9 7.2 24.3 26.8 27.0 28.0 29.3 30.9 8.8Concessional / EDT (%) 63.2 18.1 31.0 26.6 25.7 26.3 27.5 26.8 26.2 43.6Multilateral / EDT (%) 1.7 6.7 18.6 18.1 17.7 17.3 18.9 18.5 17.9 27.7



5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 308 4,071 8,994 9,275 8,628 9,214 8,262 7,880 7,587 7,391Public and publicly guaranteed 308 4,071 8,994 9,275 8,628 9,214 8,262 7,880 7,587 7,391Official creditors 221 2,609 8,105 8,414 7,795 8,316 7,758 7,384 7,098 7,241 Multilateral 6 322 1,912 2,319 2,179 2,281 2,271 2,164 2,065 2,415 Concessional 1 194 1,439 1,649 1,557 1,622 1,611 1,541 1,489 1,870 Bilateral 216 2,287 6,193 6,095 5,616 6,034 5,487 5,220 5,033 4,826 Concessional 215 667 1,737 1,763 1,618 1,849 1,700 1,598 1,525 1,937Private creditors 86 1,462 889 861 834 899 504 496 488 150 Bonds 4 7 5 4 4 4 4 3 3 2 Commercial banks 0 553 524 518 510 555 192 190 189 112 Other private 82 902 360 339 320 340 308 302 296 37Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 5 87 49 87 82 84 82 81 81 0 IDA 1 159 1,112 1,284 1,225 1,261 1,235 1,188 1,151 1,504



NET FLOWS ON DEBT 6 271 266 3 0 0 8 0 0 167Public and publicly guaranteed 6 271 266 3 0 0 8 0 0 167Official creditors 7 98 278 3 0 0 8 0 0 167 Multilateral -1 56 193 0 0 0 0 0 0 162 Concessional 1 27 121 0 0 0 0 0 0 243 Bilateral 7 42 85 3 0 0 8 0 0 5 Concessional 8 102 84 3 0 0 8 0 0 5Private creditors -1 173 -12 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 56 -5 0 0 0 0 0 0 0 Other private 0 117 -7 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -1 17 15 0 0 0 0 0 0 -82 IDA 1 20 87 0 0 0 0 0 0 275




NET TRANSFERS ON DEBT -3 67 178 3 0 0 8 0 0 3Public and publicly guaranteed -3 67 178 3 0 0 8 0 0 3Official creditors 2 -7 202 3 0 0 8 0 0 3 Multilateral -1 45 154 0 0 0 0 0 0 -2 Concessional 1 25 112 0 0 0 0 0 0 141 Bilateral 3 -52 49 3 0 0 8 0 0 5 Concessional 3 57 76 3 0 0 8 0 0 5Private creditors -4 74 -24 0 0 0 0 0 0 0 Bonds 0 -1 -1 0 0 0 0 0 0 0 Commercial banks 0 -14 -11 0 0 0 0 0 0 0 Other private -4 88 -13 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -2 9 14 0 0 0 0 0 0 -132 IDA 1 19 80 0 0 0 0 0 0 189


UNDISBURSED DEBT 288 818 1,654 452 410 495 235 178 53 535Official creditors 52 743 1,589 399 364 446 202 151 53 535Private creditors 236 75 65 53 46 49 33 27 0 0Memorandum items Concessional LDOD 216 862 3,176 3,412 3,175 3,471 3,311 3,139 3,014 3,807 Variable rate LDOD 0 508 1,367 1,375 1,318 1,344 950 927 912 3,697 Public sector LDOD 308 4,071 8,994 9,261 8,615 9,200 8,248 7,867 7,587 7,391 Private sector LDOD 0 0 0 14 14 14 14 13 0 0






Total amount rescheduled .. .. 446 0 0 0 0 0 0 3,518 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 259 0 0 0 6 0 0 2,220 Official .. .. 252 0 0 0 6 0 0 2,072 Private .. .. 7 0 0 0 0 0 0 149 Interest rescheduled .. .. 131 0 0 0 1 0 0 1,298 Official .. .. 129 0 0 0 1 0 0 1,247 Private .. .. 2 0 0 0 0 0 0 51Debt forgiven .. .. 9 0 0 0 1 0 0 2,086 Memo: interest forgiven .. .. 15 0 0 0 0 0 0 1,467Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,007 -409 -493 866 -1,155 -356 -173 -2,793 Net flows on debt 6 278 88 -91 242 -13 13 20 2 244 Net change in interest arrears .. .. 125 61 -61 275 -198 27 132 -2,713 Interest capitalized .. .. 131 0 0 0 1 0 0 1,298 Debt forgiveness or reduction .. .. -9 0 0 0 -1 0 0 -2,086 Cross-currency valuation .. .. 400 -584 -850 93 -617 -373 -294 643 Residual .. .. 273 205 176 511 -353 -30 -14 -178



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


152CONGO, REPUBLIC OF


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 119 1,526 4,947 5,241 5,071 5,119 5,033 4,887 4,491 5,152Long-term debt (LDOD) 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974Public and publicly guaranteed 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 22 11 38 34 34 29 41 39 33Short-term debt 0 247 736 537 753 834 1,070 1,088 821 1,145of which interest arrears on LDOD 0 4 181 283 371 511 588 667 724 874 Official creditors 0 2 77 155 227 343 419 496 553 693 Private creditors 0 2 104 128 144 167 169 171 171 181Memo: principal arrears on LDOD 1 10 571 1,011 1,228 1,474 1,623 1,806 1,971 2,278 Official creditors 0 5 127 520 671 831 942 1,093 1,218 1,489 Private creditors 1 5 443 491 558 642 681 714 753 789Memo: export credits 0 0 1,877 2,356 2,420 1,174 931 913 772 1,091

TOTAL DEBT FLOWS Disbursements 18 526 318 24 24 10 0 14 38 2Long-term debt 18 522 312 4 24 0 0 0 38 2IMF purchases 0 4 5 20 0 10 0 14 0 0Principal repayments 6 41 362 140 55 18 4 5 55 17Long-term debt 6 34 355 140 53 7 0 5 54 9IMF repurchases 0 7 7 0 2 11 4 0 1 8Net flows on debt 13 541 93 -451 96 -66 154 -52 -341 159of which short-term debt 0 56 138 -335 127 -58 158 -61 -324 174Interest payments (INT) 3 68 169 199 57 23 21 37 36 7Long-term debt 3 37 120 180 40 6 0 7 26 3IMF charges 0 1 1 1 1 1 1 1 1 1Short-term debt 0 31 48 18 16 16 20 30 9 3Net transfers on debt 10 473 -75 -649 39 -90 133 -90 -378 152Total debt service paid (TDS) 9 109 531 339 112 41 25 43 92 24Long-term debt 9 71 475 320 93 13 0 12 80 12IMF repurchases and charges 0 8 8 1 3 11 5 1 2 9Short-term debt (interest only) 0 31 48 18 16 16 20 30 9 3


NET RESOURCE FLOWS 23 548 7 236 285 80 668 193 96 378Net flow of long-term debt (ex. IMF) 13 488 -43 -136 -30 -7 0 -5 -16 -7Foreign direct investment (net) 5 40 0 73 79 33 538 166 77 331Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 5 20 50 299 235 54 130 32 35 54Memo: technical coop. grants 10 37 51 39 31 30 21 19 20 25 official net resource flows 19 108 106 177 205 47 130 27 19 47 private net resource flows 4 440 -100 58 79 33 538 166 77 331

NET TRANSFERS 20 505 -113 -402 145 150 488 -280 -299 -197Interest on long-term debt 3 37 120 180 40 6 0 7 26 3Profit remittances on FDI 0 6 0 458 99 -77 181 466 369 572Memo: official net transfers 17 83 38 1 165 41 130 20 -7 44 private net transfers 3 421 -151 -403 -20 109 358 -300 -292 -241


Gross national income (GNI) 267 1,544 2,324 1,629 1,560 1,191 1,645 2,275 1,954 2,195Exports of goods, serv. & inc. (XGS) .. 1,030 1,503 1,757 1,768 1,490 1,737 2,644 2,217 2,461Worker remit. & comp. of employees 0 3 0 8 5 2 12 10 12 12Imports of goods & services (MGS) .. 1,195 1,757 2,438 1,925 1,727 1,961 2,013 2,228 2,484International reserves (RES) 9 93 10 95 63 4 43 225 72 35Current account balance .. -167 -251 -651 -156 -241 -231 648 -28 -34

4. DEBT INDICATORS




5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974Public and publicly guaranteed 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974Official creditors 104 605 3,055 3,799 3,452 3,437 3,152 2,993 2,878 3,185 Multilateral 29 118 568 674 619 625 601 570 535 569 Concessional 0 49 151 252 239 243 234 223 250 267 Bilateral 75 487 2,487 3,125 2,832 2,812 2,551 2,424 2,343 2,616 Concessional 75 355 1,588 1,750 1,615 1,643 1,496 1,424 1,378 1,533Private creditors 14 652 1,145 866 832 814 782 764 753 789 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 282 724 771 748 725 703 691 683 708 Other private 14 370 421 96 84 89 79 73 69 81Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 29 39 164 82 73 71 68 65 16 10 IDA 0 22 75 171 165 168 166 159 187 198



NET FLOWS ON DEBT 13 488 -43 -136 -30 -7 0 -5 -16 -7Public and publicly guaranteed 13 488 -43 -136 -30 -7 0 -5 -16 -7Official creditors 14 88 57 -121 -30 -7 0 -5 -16 -7 Multilateral -1 17 -19 -28 -16 -7 0 -5 -16 -7 Concessional 0 10 0 -3 1 0 0 -1 32 0 Bilateral 15 71 76 -94 -14 0 0 0 0 0 Concessional 14 28 113 -17 2 0 0 0 0 0Private creditors -1 400 -100 -14 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 277 -83 0 0 0 0 0 0 0 Other private -1 123 -17 -14 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -1 -2 -4 -14 -3 -3 0 -2 -48 -6 IDA 0 1 0 1 1 0 0 -1 32 0




NET TRANSFERS ON DEBT 10 451 -163 -316 -70 -13 0 -12 -42 -10Public and publicly guaranteed 10 451 -163 -316 -70 -13 0 -12 -42 -10Official creditors 11 63 -12 -298 -70 -13 0 -12 -42 -10 Multilateral -3 12 -50 -48 -53 -13 0 -12 -42 -10 Concessional 0 10 -2 -5 0 -1 0 -2 28 -2 Bilateral 14 52 38 -250 -17 0 0 0 0 0 Concessional 14 17 84 -50 2 0 0 0 0 0Private creditors -2 387 -151 -18 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 275 -127 0 0 0 0 0 0 0 Other private -2 112 -24 -18 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -3 -6 -16 -22 -4 -4 0 -4 -70 -8 IDA 0 1 -1 0 0 -1 0 -1 28 -2


UNDISBURSED DEBT 42 735 400 281 226 6 5 5 5 47Official creditors 35 221 338 128 93 6 5 5 5 47Private creditors 7 514 62 153 134 0 0 0 0 0Memorandum items Concessional LDOD 75 404 1,739 2,003 1,854 1,886 1,730 1,648 1,627 1,800 Variable rate LDOD 0 82 882 1,097 1,047 1,001 967 945 898 931 Public sector LDOD 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974 Private sector LDOD 0 0 0 0 0 0 0 0 0 0







8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 668 -764 -170 48 -86 -146 -396 661 Net flows on debt 13 541 93 -451 96 -66 154 -52 -341 159 Net change in interest arrears .. .. -167 -158 89 139 77 79 57 150 Interest capitalized .. .. 370 69 19 16 7 0 0 0 Debt forgiveness or reduction .. .. 0 -77 -37 -35 -17 0 0 0 Cross-currency valuation .. .. 321 -257 -432 36 -305 -163 -117 340 Residual .. .. 52 109 95 -42 -2 -10 6 12

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 2.8 7.6 5.1 0.0 0.0 0.0 0.0 0.0 0.8 0.8 Maturity (years) 18.3 11.1 15.7 0.0 0.0 0.0 0.0 0.0 39.8 39.3 Grace period (years) 6.5 3.2 6.8 0.0 0.0 0.0 0.0 0.0 10.3 9.8 Grant element (%) 49.5 13.1 32.0 0.0 0.0 0.0 0.0 0.0 80.7 80.1Official creditors Interest (%) 2.3 3.5 4.3 0.0 0.0 0.0 0.0 0.0 0.8 0.8 Maturity (years) 19.6 25.3 16.9 0.0 0.0 0.0 0.0 0.0 39.8 39.3 Grace period (years) 6.6 6.7 7.2 0.0 0.0 0.0 0.0 0.0 10.3 9.8 Grant element (%) 53.6 46.5 37.3 0.0 0.0 0.0 0.0 0.0 80.7 80.1Private creditors Interest (%) 4.2 8.5 9.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 14.9 8.1 8.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 6.2 2.4 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 38.9 6.2 -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments 31 966 192 0 0 0 0 0 43 40 Official creditors 23 165 165 0 0 0 0 0 43 40 Private creditors 9 801 27 0 0 0 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


156COSTA RICA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 287 2,744 3,756 3,491 3,478 3,960 4,216 4,456 4,650 4,834Long-term debt (LDOD) 246 2,112 3,367 3,116 2,940 3,270 3,439 3,500 3,489 3,335Public and publicly guaranteed 134 1,700 3,063 2,923 2,769 3,032 3,195 3,264 3,273 3,139Private nonguaranteed 112 412 304 193 172 237 244 236 216 196Use of IMF credit 0 57 11 1 0 0 0 0 0 0Short-term debt 41 575 377 374 538 690 777 956 1,161 1,499of which interest arrears on LDOD 0 0 77 29 29 28 21 20 20 16 Official creditors 0 0 76 25 25 24 17 17 16 16 Private creditors 0 0 2 4 4 4 3 3 3 0Memo: principal arrears on LDOD 0 2 173 88 77 78 79 78 75 76 Official creditors 0 0 167 85 75 76 77 76 73 74 Private creditors 0 2 6 3 2 2 2 2 2 2Memo: export credits 0 0 297 204 146 56 80 55 90 167

TOTAL DEBT FLOWS Disbursements 62 556 206 389 278 600 513 508 444 171Long-term debt 60 536 206 389 278 600 513 508 444 171IMF purchases 2 20 0 0 0 0 0 0 0 0Principal repayments 45 176 295 372 358 331 356 387 416 390Long-term debt 41 164 269 349 358 331 356 387 416 390IMF repurchases 4 12 26 23 1 0 0 0 0 0Net flows on debt 17 602 -108 -36 84 423 251 300 234 122of which short-term debt 0 222 -20 -53 164 154 94 179 206 341Interest payments (INT) 14 179 206 216 208 215 194 261 282 280Long-term debt 14 171 171 195 183 181 154 205 239 239IMF charges 0 4 3 0 0 0 0 0 0 0Short-term debt 0 4 32 20 26 34 40 56 43 41Net transfers on debt 2 424 -315 -252 -125 208 57 38 -48 -158Total debt service paid (TDS) 59 354 501 588 567 546 550 648 697 670Long-term debt 55 335 440 544 540 512 510 592 654 629IMF repurchases and charges 4 16 29 23 1 0 0 0 0 0Short-term debt (interest only) 0 4 32 20 26 34 40 56 43 41


NET RESOURCE FLOWS 48 425 210 501 358 909 800 555 502 464Net flow of long-term debt (ex. IMF) 19 373 -63 40 -80 269 157 121 28 -220Foreign direct investment (net) 26 53 163 427 408 613 620 409 454 662Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 3 0 110 34 30 26 24 25 21 21Memo: technical coop. grants 4 14 73 60 44 50 24 24 42 29 official net resource flows 15 177 188 97 -88 54 -98 -55 -128 -139 private net resource flows 33 248 22 403 446 854 899 609 630 602

NET TRANSFERS 34 234 -21 217 -3 345 -1,078 -791 -332 -116Interest on long-term debt 14 171 171 195 183 181 154 205 239 239Profit remittances on FDI 0 20 60 89 179 383 1,724 1,141 596 341Memo: official net transfers 11 135 84 -36 -210 -59 -196 -157 -227 -234 private net transfers 23 99 -105 252 207 404 -882 -635 -105 118


Gross national income (GNI) 969 4,615 5,460 11,660 12,580 13,627 13,968 14,701 15,587 16,303Exports of goods, serv. & inc. (XGS) .. 1,219 2,094 5,092 5,650 7,177 8,537 8,115 7,185 7,497Worker remit. & comp. of employees 0 4 12 131 130 128 116 125 181 228Imports of goods & services (MGS) .. 1,897 2,709 5,383 6,141 7,698 9,218 8,805 7,902 8,400International reserves (RES) 16 197 525 1,001 1,262 1,064 1,461 1,318 1,330 1,497Current account balance .. -664 -424 -264 -481 -521 -680 -707 -736 -946

4. DEBT INDICATORS


157COSTA RICA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 246 2,112 3,367 3,116 2,940 3,270 3,439 3,500 3,489 3,335Public and publicly guaranteed 134 1,700 3,063 2,923 2,769 3,032 3,195 3,264 3,273 3,139Official creditors 96 791 2,359 2,284 2,070 2,158 2,049 1,909 1,718 1,624 Multilateral 57 450 1,141 1,318 1,280 1,377 1,351 1,295 1,294 1,256 Concessional 11 121 246 188 192 186 191 182 187 197 Bilateral 39 341 1,218 966 791 782 697 615 424 368 Concessional 36 128 642 637 537 504 471 399 344 301Private creditors 38 909 704 639 698 874 1,146 1,355 1,555 1,515 Bonds 1 141 609 564 605 789 1,072 1,292 1,500 1,456 Commercial banks 20 712 41 40 61 55 45 36 28 34 Other private 17 55 54 35 32 31 29 26 27 25Private nonguaranteed 112 412 304 193 172 237 244 236 216 196 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 112 412 304 193 172 237 244 236 216 196Memo: IBRD 36 178 409 245 191 172 149 121 102 91 IDA 5 5 3 2 2 2 2 2 2 1



NET FLOWS ON DEBT 19 373 -63 40 -80 269 157 121 28 -220Public and publicly guaranteed 9 359 -62 61 -58 204 150 129 48 -200Official creditors 12 178 78 63 -118 28 -122 -80 -148 -160 Multilateral 9 82 11 192 24 58 -22 -19 30 -89 Concessional 4 40 4 32 6 -7 1 -5 5 10 Bilateral 3 96 67 -128 -142 -30 -100 -61 -178 -71 Concessional 4 17 73 -54 -73 -54 -49 -51 -44 -57Private creditors -3 182 -139 -2 60 176 272 209 196 -39 Bonds -1 97 -42 -7 40 184 283 220 208 -44 Commercial banks -5 79 -94 7 21 -7 -10 -9 -9 6 Other private 3 5 -4 -2 -2 -2 -1 -3 -2 -2Private nonguaranteed 10 14 -1 -21 -21 65 7 -8 -20 -20 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 10 14 -1 -21 -21 65 7 -8 -20 -20Memo: IBRD 3 23 -40 -32 -34 -21 -23 -27 -19 -11 IDA 0 0 0 0 0 0 0 0 0 0

158COSTA RICA



NET TRANSFERS ON DEBT 5 202 -234 -155 -262 88 3 -84 -211 -458Public and publicly guaranteed 2 229 -231 -115 -225 42 9 -61 -176 -426Official creditors 8 135 -26 -70 -240 -86 -220 -182 -248 -255 Multilateral 6 54 -67 104 -63 -26 -105 -101 -53 -172 Concessional 3 37 -1 28 3 -10 -2 -8 1 6 Bilateral 2 81 40 -174 -177 -59 -115 -81 -195 -83 Concessional 3 14 64 -77 -94 -71 -55 -65 -56 -68Private creditors -6 94 -204 -46 15 128 229 121 72 -171 Bonds -1 91 -66 -43 4 145 246 140 91 -166 Commercial banks -7 2 -130 3 17 -12 -13 -13 -13 1 Other private 2 1 -9 -6 -6 -5 -4 -6 -6 -6Private nonguaranteed 3 -28 -3 -40 -38 46 -6 -24 -34 -32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 -28 -3 -40 -38 46 -6 -24 -34 -32Memo: IBRD 1 8 -73 -52 -50 -33 -35 -39 -29 -19 IDA 0 0 0 0 0 0 0 0 0 0


UNDISBURSED DEBT 95 797 1,053 1,116 1,028 762 564 655 730 648Official creditors 93 623 1,038 1,109 1,023 761 564 655 592 499Private creditors 2 174 15 7 4 2 0 0 137 149Memorandum items Concessional LDOD 47 249 888 825 729 690 662 582 530 498 Variable rate LDOD 122 1,203 1,061 907 881 994 972 877 799 793 Public sector LDOD 130 1,655 3,059 2,921 2,767 3,031 3,193 3,263 3,272 3,138 Private sector LDOD 116 457 308 195 173 239 245 237 217 197



159COSTA RICA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -834 -311 -13 482 256 240 194 184 Net flows on debt 17 602 -108 -36 84 423 251 300 234 122 Net change in interest arrears .. .. -308 -3 0 -1 -7 0 -1 -3 Interest capitalized .. .. 151 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -668 -2 -2 0 0 0 0 0 Cross-currency valuation .. .. 52 -132 -112 -6 5 -29 -54 66 Residual .. .. 47 -138 17 66 7 -31 15 0

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 5.6 11.2 6.9 5.3 7.3 7.3 9.3 7.9 7.2 5.6 Maturity (years) 27.7 13.3 15.4 11.3 12.7 4.0 10.1 11.3 12.0 22.2 Grace period (years) 6.3 5.0 4.4 3.6 2.7 4.0 10.1 9.9 6.1 2.1 Grant element (%) 33.6 -1.2 18.2 24.7 12.7 6.8 4.1 3.5 14.0 26.8Official creditors Interest (%) 5.3 7.2 6.4 5.3 6.8 5.3 0.0 6.3 5.9 5.5 Maturity (years) 29.8 18.3 17.6 11.3 14.9 1.1 0.0 4.3 17.2 26.6 Grace period (years) 7.2 6.3 5.0 3.7 3.7 1.1 0.0 1.8 2.0 2.1 Grant element (%) 37.3 19.4 21.1 24.6 16.6 4.6 0.0 6.2 22.5 30.2Private creditors Interest (%) 7.1 15.8 9.5 3.3 8.4 8.0 9.3 10.0 7.7 5.9 Maturity (years) 14.8 7.6 3.2 10.8 7.7 5.1 10.1 20.4 10.3 12.3 Grace period (years) 0.9 3.6 1.1 1.1 0.7 5.1 10.1 20.4 7.4 2.3 Grant element (%) 12.2 -24.4 2.2 27.4 4.3 7.7 4.1 0.0 11.1 19.1Memorandum items Commitments 58 625 230 254 266 275 300 574 519 90 Official creditors 49 330 195 251 182 75 0 324 132 62 Private creditors 8 295 36 3 84 200 300 250 387 28


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


160COTE D'IVOIRE


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 374 7,462 17,251 19,524 15,609 14,852 13,170 12,138 11,618 11,816Long-term debt (LDOD) 267 6,339 13,223 13,216 12,498 12,632 11,295 10,546 9,975 10,369Public and publicly guaranteed 256 4,327 10,665 11,367 10,427 10,800 9,699 9,063 8,603 9,110Private nonguaranteed 11 2,012 2,558 1,849 2,071 1,833 1,596 1,482 1,372 1,259Use of IMF credit 0 65 431 503 450 644 620 549 464 491Short-term debt 107 1,059 3,597 5,805 2,661 1,576 1,256 1,043 1,179 956of which interest arrears on LDOD 0 0 819 953 87 9 8 79 376 292 Official creditors 0 0 66 6 78 0 0 70 216 85 Private creditors 0 0 753 947 9 9 8 8 160 207Memo: principal arrears on LDOD 0 0 1,727 2,551 147 49 45 169 466 317 Official creditors 0 0 16 11 98 1 1 125 375 213 Private creditors 0 0 1,710 2,539 48 48 43 44 91 105Memo: export credits 0 0 3,560 2,932 2,749 1,581 1,274 1,327 1,319 1,455

TOTAL DEBT FLOWS Disbursements 82 1,777 1,172 1,014 236 613 247 148 12 299Long-term debt 82 1,739 1,019 876 236 445 247 148 12 223IMF purchases 0 38 153 138 0 168 0 0 0 76Principal repayments 30 722 621 860 838 670 832 481 369 522Long-term debt 30 722 498 812 816 670 823 442 302 436IMF repurchases 0 0 123 48 22 0 8 39 67 86Net flows on debt 51 1,257 1,189 2,117 412 -1,064 -904 -617 -518 -362of which short-term debt 0 202 639 1,962 1,015 -1,007 -319 -283 -161 -139Interest payments (INT) 12 685 641 515 521 713 618 539 252 309Long-term debt 12 590 443 473 413 615 544 462 215 280IMF charges 0 0 31 5 3 3 3 3 3 3Short-term debt 0 95 167 37 105 96 70 74 34 26Net transfers on debt 39 572 548 1,602 -109 -1,778 -1,521 -1,156 -770 -671Total debt service paid (TDS) 43 1,407 1,262 1,375 1,360 1,383 1,449 1,020 621 831Long-term debt 43 1,312 941 1,285 1,229 1,285 1,367 904 518 716IMF repurchases and charges 0 0 155 53 25 3 11 42 69 89Short-term debt (interest only) 0 95 167 37 105 96 70 74 34 26


NET RESOURCE FLOWS 94 1,139 855 840 148 677 120 180 200 685Net flow of long-term debt (ex. IMF) 51 1,017 521 64 -580 -225 -577 -294 -291 -213Foreign direct investment (net) 31 95 48 269 415 380 324 235 273 230Portfolio equity flows 0 0 0 10 9 9 6 1 2 1Grants (excluding technical coop.) 12 27 287 497 304 513 367 238 216 667Memo: technical coop. grants 21 100 129 109 100 95 85 73 70 78 official net resource flows 46 203 798 452 159 548 74 103 35 568 private net resource flows 48 936 57 388 -12 128 46 77 165 117

NET TRANSFERS 82 361 338 143 -492 -230 -758 -566 -285 129Interest on long-term debt 12 590 443 473 413 615 544 462 215 280Profit remittances on FDI 0 188 75 224 227 292 334 284 270 276Memo: official net transfers 41 125 611 123 -109 179 -239 -86 -78 384 private net transfers 40 235 -273 19 -383 -410 -519 -480 -207 -256


Gross national income (GNI) 1,413 9,680 9,209 11,223 11,003 12,021 11,744 9,885 10,071 11,139Exports of goods, serv. & inc. (XGS) .. 3,640 3,561 5,182 5,192 5,390 5,410 4,512 4,661 5,892Worker remit. & comp. of employees 0 32 44 147 136 143 138 119 116 122Imports of goods & services (MGS) .. 4,761 4,594 5,002 4,966 5,287 5,144 4,423 4,411 4,643International reserves (RES) 119 46 21 606 618 855 630 668 1,019 1,863Current account balance .. -1,826 -1,214 -162 -155 -290 -120 -241 -60 767

4. DEBT INDICATORS


161COTE D'IVOIRE


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 267 6,339 13,223 13,216 12,498 12,632 11,295 10,546 9,975 10,369Public and publicly guaranteed 256 4,327 10,665 11,367 10,427 10,800 9,699 9,063 8,603 9,110Official creditors 143 1,247 7,686 8,787 7,906 8,302 7,256 6,669 6,211 6,752 Multilateral 14 523 3,585 3,665 3,301 3,491 3,148 2,958 2,758 3,040 Concessional 8 69 1,149 1,435 1,434 1,711 1,679 1,676 1,622 1,973 Bilateral 129 724 4,101 5,122 4,605 4,812 4,108 3,711 3,453 3,712 Concessional 114 369 1,946 3,371 3,070 3,232 2,739 2,450 2,257 2,553Private creditors 112 3,080 2,980 2,580 2,521 2,497 2,443 2,394 2,392 2,358 Bonds 21 15 0 0 2,457 2,434 2,389 2,343 2,343 2,343 Commercial banks 32 1,611 2,640 2,526 16 17 15 14 14 0 Other private 59 1,454 340 54 48 46 40 37 35 15Private nonguaranteed 11 2,012 2,558 1,849 2,071 1,833 1,596 1,482 1,372 1,259 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 11 2,012 2,558 1,849 2,071 1,833 1,596 1,482 1,372 1,259Memo: IBRD 4 306 1,913 1,304 1,044 942 708 599 499 479 IDA 0 8 7 1,019 1,100 1,337 1,360 1,366 1,318 1,589

DISBURSEMENTS 82 1,739 1,019 876 236 445 247 148 12 223Public and publicly guaranteed 78 1,414 769 475 185 393 194 148 12 223Official creditors 43 231 758 465 185 389 191 148 12 223 Multilateral 12 136 460 321 181 299 111 148 12 223 Concessional 8 8 21 253 147 253 75 131 10 211 Bilateral 31 95 298 144 3 90 80 0 0 0 Concessional 25 34 283 142 3 59 66 0 0 0Private creditors 35 1,183 11 10 0 4 3 0 0 0 Bonds 6 0 0 0 0 0 0 0 0 0 Commercial banks 7 634 2 2 0 0 0 0 0 0 Other private 22 550 9 8 0 4 3 0 0 0Private nonguaranteed 4 325 250 401 52 52 53 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 325 250 401 52 52 53 0 0 0Memo: IBRD 3 86 261 18 0 0 0 0 0 0 IDA 0 0 0 235 140 190 53 76 5 174


NET FLOWS ON DEBT 51 1,017 521 64 -580 -225 -577 -294 -291 -213Public and publicly guaranteed 49 897 450 -46 -340 13 -340 -181 -181 -99Official creditors 34 176 511 -45 -144 35 -294 -135 -181 -98 Multilateral 12 120 229 17 -83 44 -127 5 -94 -6 Concessional 8 6 -49 206 103 212 33 97 7 196 Bilateral 22 57 282 -62 -62 -9 -167 -140 -86 -93 Concessional 19 18 278 107 -20 -5 -108 -97 -67 -79Private creditors 15 721 -62 -1 -196 -22 -46 -46 0 -1 Bonds 3 0 -1 0 0 -23 -46 -46 0 0 Commercial banks 5 332 -23 -3 -193 0 0 0 0 0 Other private 7 389 -37 2 -3 1 -1 0 0 -1Private nonguaranteed 2 120 71 109 -240 -238 -237 -113 -110 -114 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 120 71 109 -240 -238 -237 -113 -110 -114Memo: IBRD 3 78 136 -160 -158 -139 -121 -57 -72 -90 IDA 0 0 0 235 140 190 53 75 5 161

162COTE D'IVOIRE



NET TRANSFERS ON DEBT 39 427 78 -409 -993 -840 -1,121 -756 -506 -493Public and publicly guaranteed 38 544 245 -376 -610 -493 -798 -523 -294 -283Official creditors 29 99 324 -373 -413 -334 -606 -324 -294 -282 Multilateral 11 87 54 -196 -248 -96 -256 -73 -164 -149 Concessional 8 6 -52 199 93 201 20 86 -2 177 Bilateral 18 11 271 -178 -165 -238 -350 -251 -130 -133 Concessional 15 5 276 38 -85 -139 -214 -144 -105 -115Private creditors 8 446 -80 -2 -197 -159 -192 -198 0 -1 Bonds 2 -2 -1 0 0 -159 -190 -198 0 0 Commercial banks 2 156 -30 -4 -193 0 0 0 0 0 Other private 3 291 -49 2 -4 0 -2 0 0 -1Private nonguaranteed 2 -117 -167 -34 -383 -347 -323 -233 -212 -210 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 -117 -167 -34 -383 -347 -323 -233 -212 -210Memo: IBRD 3 56 -4 -271 -245 -209 -178 -90 -110 -139 IDA 0 0 0 230 132 181 43 68 -3 146

DEBT SERVICE (LTDS) 43 1,312 941 1,285 1,229 1,285 1,367 904 518 716Public and publicly guaranteed 40 870 524 850 794 886 992 671 306 507Official creditors 13 133 434 838 597 723 797 472 306 506 Multilateral 1 49 406 516 429 394 367 221 176 373 Concessional 0 3 73 54 54 52 55 45 12 35 Bilateral 13 83 28 322 168 328 430 251 130 133 Concessional 9 29 7 104 88 198 280 144 105 115Private creditors 27 738 90 12 197 163 195 198 0 1 Bonds 3 2 1 0 0 159 190 198 0 0 Commercial banks 5 477 32 6 193 0 0 0 0 0 Other private 19 259 58 6 4 5 4 0 0 1Private nonguaranteed 2 442 417 435 435 399 376 233 212 210 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 442 417 435 435 399 376 233 212 210Memo: IBRD 0 29 266 289 245 209 178 90 110 139 IDA 0 0 0 5 8 9 10 8 8 28

UNDISBURSED DEBT 169 1,723 1,221 909 892 888 687 456 409 513Official creditors 108 747 1,122 907 885 884 686 456 409 513Private creditors 61 976 99 3 8 4 1 0 0 0Memorandum items Concessional LDOD 121 438 3,096 4,806 4,503 4,943 4,418 4,126 3,880 4,526 Variable rate LDOD 34 3,600 7,400 6,742 6,598 6,043 5,418 5,053 4,803 4,896 Public sector LDOD 255 4,277 10,663 11,365 10,427 10,800 9,699 9,063 8,603 9,110 Private sector LDOD 11 2,061 2,560 1,850 2,071 1,833 1,596 1,482 1,372 1,259



163COTE D'IVOIRE



Total amount rescheduled .. .. 930 315 2,612 319 67 72 40 325 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 590 139 138 265 34 45 28 173 Official .. .. 407 137 58 264 33 44 28 165 Private .. .. 183 3 80 1 0 0 0 7 Interest rescheduled .. .. 286 106 875 54 30 24 11 153 Official .. .. 257 105 8 53 30 24 11 151 Private .. .. 29 1 867 0 0 0 0 1Debt forgiven .. .. 50 8 0 103 16 22 12 323 Memo: interest forgiven .. .. 0 2 0 20 8 7 2 140Debt stock reduction .. .. 0 0 4,053 0 0 0 0 0 of which debt buyback .. .. 0 0 163 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 2,430 625 -3,915 -757 -1,682 -1,032 -520 197 Net flows on debt 51 1,257 1,189 2,117 412 -1,064 -904 -617 -518 -362 Net change in interest arrears .. .. 62 -67 -866 -78 -1 71 297 -84 Interest capitalized .. .. 286 106 875 54 30 24 11 153 Debt forgiveness or reduction .. .. -50 -8 -3,890 -103 -16 -22 -12 -323 Cross-currency valuation .. .. 829 -1,232 -1,715 -327 -783 -468 -278 814 Residual .. .. 115 -291 1,269 762 -7 -20 -20 0

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 5.8 11.4 5.9 1.9 1.7 0.5 0.8 0.8 0.0 0.8 Maturity (years) 18.6 10.3 20.0 31.4 30.2 40.5 48.4 46.2 0.0 42.1 Grace period (years) 5.4 4.5 6.3 8.7 8.4 10.0 10.4 9.6 0.0 9.9 Grant element (%) 26.1 -5.6 27.5 65.2 65.8 82.7 82.9 81.7 0.0 80.9Official creditors Interest (%) 4.9 6.2 5.9 1.8 1.6 0.5 0.8 0.8 0.0 0.8 Maturity (years) 22.5 18.8 20.0 31.9 30.9 40.5 48.4 46.2 0.0 42.1 Grace period (years) 7.4 5.7 6.3 8.9 8.6 10.0 10.4 9.6 0.0 9.9 Grant element (%) 35.3 25.4 27.5 66.4 67.3 82.7 82.9 81.7 0.0 80.9Private creditors Interest (%) 7.4 11.9 0.0 6.0 5.8 0.0 0.0 0.0 0.0 0.0 Maturity (years) 12.1 9.5 0.0 5.4 6.2 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.1 4.4 0.0 0.9 0.6 0.0 0.0 0.0 0.0 0.0 Grant element (%) 10.9 -8.5 0.0 8.7 10.7 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments 70 1,688 764 538 241 359 32 72 0 295 Official creditors 44 144 764 526 235 359 32 72 0 295 Private creditors 26 1,544 0 12 6 0 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


164CROATIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 5,309 7,981 10,470 10,818 11,344 11,360 15,347Long-term debt (LDOD) .. .. .. 4,668 7,181 9,587 9,933 10,490 10,966 14,984Public and publicly guaranteed .. .. .. 3,337 4,274 4,925 5,523 6,111 6,424 7,679Private nonguaranteed .. .. .. 1,330 2,907 4,662 4,410 4,379 4,541 7,305Use of IMF credit .. .. .. 209 233 234 197 158 122 0Short-term debt .. .. .. 432 568 649 688 696 272 362of which interest arrears on LDOD .. .. .. 21 29 45 49 45 62 67 Official creditors .. .. .. 1 0 3 5 3 4 2 Private creditors .. .. .. 20 29 41 44 42 58 65Memo: principal arrears on LDOD .. .. .. 132 180 212 231 209 470 489 Official creditors .. .. .. 1 0 16 0 1 9 0 Private creditors .. .. .. 131 180 196 231 208 461 488Memo: export credits .. .. .. 666 1,138 1,023 975 554 566 574

TOTAL DEBT FLOWS Disbursements .. .. .. 974 3,448 2,760 2,890 3,309 3,603 4,973Long-term debt .. .. .. 974 3,408 2,760 2,890 3,309 3,603 4,973IMF purchases .. .. .. 0 40 0 0 0 0 0Principal repayments .. .. .. 421 785 1,334 1,549 2,138 2,684 2,446Long-term debt .. .. .. 417 783 1,325 1,518 2,109 2,654 2,320IMF repurchases .. .. .. 5 2 9 31 29 31 126Net flows on debt .. .. .. 543 2,790 1,492 1,375 1,182 479 2,612of which short-term debt .. .. .. -10 127 66 35 11 -440 85Interest payments (INT) .. .. .. 109 376 474 546 592 634 572Long-term debt .. .. .. 83 347 429 504 549 621 564IMF charges .. .. .. 10 10 11 9 9 7 3Short-term debt .. .. .. 16 19 34 34 34 7 6Net transfers on debt .. .. .. 434 2,415 1,018 829 590 -156 2,040Total debt service paid (TDS) .. .. .. 530 1,161 1,808 2,096 2,730 3,318 3,018Long-term debt .. .. .. 500 1,129 1,754 2,022 2,658 3,274 2,884IMF repurchases and charges .. .. .. 14 12 20 40 38 38 129Short-term debt (interest only) .. .. .. 16 19 34 34 34 7 6


NET RESOURCE FLOWS .. .. .. 1,087 3,213 2,404 2,849 2,334 2,592 3,764Net flow of long-term debt (ex. IMF) .. .. .. 557 2,626 1,435 1,372 1,200 950 2,653Foreign direct investment (net) .. .. .. 511 533 932 1,467 1,089 1,561 981Portfolio equity flows .. .. .. -7 16 1 -19 0 14 78Grants (excluding technical coop.) .. .. .. 25 39 36 28 46 67 53Memo: technical coop. grants .. .. .. 29 18 23 32 31 43 61 official net resource flows .. .. .. 20 173 41 67 114 83 160 private net resource flows .. .. .. 1,067 3,040 2,363 2,781 2,220 2,509 3,604

NET TRANSFERS .. .. .. 996 2,797 1,869 2,275 1,623 1,660 2,841Interest on long-term debt .. .. .. 83 347 429 504 549 621 564Profit remittances on FDI .. .. .. 8 69 106 70 162 311 359Memo: official net transfers .. .. .. -14 71 -50 -22 34 0 83 private net transfers .. .. .. 1,010 2,726 1,919 2,296 1,589 1,660 2,759


Gross national income (GNI) .. .. .. 19,802 20,086 21,464 19,550 18,021 19,019 21,918Exports of goods, serv. & inc. (XGS) .. .. .. 8,744 8,893 9,445 8,826 9,546 10,621 11,636Worker remit. & comp. of employees .. .. .. 650 594 601 529 620 706 839Imports of goods & services (MGS) .. .. .. 10,212 12,064 11,098 10,402 10,351 11,744 13,652International reserves (RES) .. .. .. 2,314 2,539 2,816 3,025 3,524 4,703 5,885Current account balance .. .. .. -1,049 -2,825 -1,468 -1,397 -459 -726 -1,606

4. DEBT INDICATORS


165CROATIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 4,668 7,181 9,587 9,933 10,490 10,966 14,984Public and publicly guaranteed .. .. .. 3,337 4,274 4,925 5,523 6,111 6,424 7,679Official creditors .. .. .. 1,538 1,545 1,583 1,494 1,488 1,480 1,779 Multilateral .. .. .. 371 474 568 590 593 654 911 Concessional .. .. .. 16 28 55 69 76 90 134 Bilateral .. .. .. 1,167 1,071 1,015 904 896 826 868 Concessional .. .. .. 306 269 272 247 239 232 250Private creditors .. .. .. 1,799 2,729 3,342 4,029 4,623 4,945 5,900 Bonds .. .. .. 1,527 1,962 2,049 2,523 3,136 3,772 4,179 Commercial banks .. .. .. 153 441 1,047 1,338 1,309 1,010 1,565 Other private .. .. .. 119 326 246 168 179 163 156Private nonguaranteed .. .. .. 1,330 2,907 4,662 4,410 4,379 4,541 7,305 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1,330 2,907 4,662 4,410 4,379 4,541 7,305Memo: IBRD .. .. .. 195 276 336 387 395 427 588 IDA .. .. .. 0 0 0 0 0 0 0

DISBURSEMENTS .. .. .. 974 3,408 2,760 2,890 3,309 3,603 4,973Public and publicly guaranteed .. .. .. 391 1,499 1,044 1,215 1,513 1,413 1,667Official creditors .. .. .. 137 277 178 162 219 133 259 Multilateral .. .. .. 130 176 161 128 83 100 217 Concessional .. .. .. 8 14 29 23 9 11 23 Bilateral .. .. .. 8 101 17 34 136 33 42 Concessional .. .. .. 0 2 6 10 17 14 9Private creditors .. .. .. 253 1,223 866 1,053 1,293 1,280 1,408 Bonds .. .. .. 66 531 101 539 833 1,024 672 Commercial banks .. .. .. 135 326 720 406 401 199 689 Other private .. .. .. 51 367 46 107 59 57 47Private nonguaranteed .. .. .. 584 1,909 1,717 1,675 1,796 2,190 3,306 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 584 1,909 1,717 1,675 1,796 2,190 3,306Memo: IBRD .. .. .. 105 115 108 87 55 75 135 IDA .. .. .. 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. .. 417 783 1,325 1,518 2,109 2,654 2,320Public and publicly guaranteed .. .. .. 283 374 494 338 696 924 1,181Official creditors .. .. .. 143 142 172 123 151 117 152 Multilateral .. .. .. 40 33 48 48 44 36 60 Concessional .. .. .. 1 0 6 0 0 0 0 Bilateral .. .. .. 103 109 124 75 107 81 92 Concessional .. .. .. 8 16 13 15 15 17 17Private creditors .. .. .. 140 232 322 215 545 807 1,029 Bonds .. .. .. 0 80 35 24 129 234 699 Commercial banks .. .. .. 112 13 145 150 376 492 266 Other private .. .. .. 28 139 142 42 39 81 64Private nonguaranteed .. .. .. 134 408 831 1,180 1,413 1,729 1,139 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 134 408 831 1,180 1,413 1,729 1,139Memo: IBRD .. .. .. 16 14 17 20 22 18 30 IDA .. .. .. 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. 557 2,626 1,435 1,372 1,200 950 2,653Public and publicly guaranteed .. .. .. 108 1,125 550 877 817 489 486Official creditors .. .. .. -6 134 6 39 68 16 107 Multilateral .. .. .. 89 143 113 80 39 64 157 Concessional .. .. .. 8 13 23 23 9 11 23 Bilateral .. .. .. -95 -8 -107 -41 29 -48 -50 Concessional .. .. .. -8 -14 -7 -5 2 -3 -8Private creditors .. .. .. 113 991 544 838 748 473 379 Bonds .. .. .. 66 451 65 516 704 790 -27 Commercial banks .. .. .. 23 312 575 256 24 -293 423 Other private .. .. .. 24 227 -96 66 20 -24 -17Private nonguaranteed .. .. .. 450 1,501 885 495 383 461 2,167 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 450 1,501 885 495 383 461 2,167Memo: IBRD .. .. .. 89 100 91 67 34 57 105 IDA .. .. .. 0 0 0 0 0 0 0

166CROATIA



NET TRANSFERS ON DEBT .. .. .. 474 2,279 1,006 868 651 329 2,090Public and publicly guaranteed .. .. .. 61 854 276 519 423 66 108Official creditors .. .. .. -39 32 -86 -50 -12 -67 30 Multilateral .. .. .. 63 112 81 46 7 33 118 Concessional .. .. .. 7 12 22 21 7 9 18 Bilateral .. .. .. -103 -79 -167 -96 -19 -101 -88 Concessional .. .. .. -9 -25 -16 -15 -7 -13 -16Private creditors .. .. .. 101 822 361 569 435 134 78 Bonds .. .. .. 65 338 -64 322 481 539 -261 Commercial banks .. .. .. 16 276 544 187 -53 -373 363 Other private .. .. .. 20 208 -119 60 7 -33 -24Private nonguaranteed .. .. .. 413 1,424 730 349 228 263 1,982 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 413 1,424 730 349 228 263 1,982Memo: IBRD .. .. .. 78 86 75 46 14 38 80 IDA .. .. .. 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. .. 500 1,129 1,754 2,022 2,658 3,274 2,884Public and publicly guaranteed .. .. .. 329 645 768 696 1,089 1,347 1,559Official creditors .. .. .. 177 244 263 212 231 200 229 Multilateral .. .. .. 66 64 79 82 76 67 99 Concessional .. .. .. 1 2 7 3 3 2 5 Bilateral .. .. .. 110 180 184 130 156 134 131 Concessional .. .. .. 9 27 23 25 24 27 24Private creditors .. .. .. 153 401 505 483 858 1,146 1,330 Bonds .. .. .. 1 193 164 218 352 484 933 Commercial banks .. .. .. 120 50 175 219 454 572 326 Other private .. .. .. 32 159 165 47 52 90 71Private nonguaranteed .. .. .. 171 484 987 1,327 1,569 1,928 1,325 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 171 484 987 1,327 1,569 1,928 1,325Memo: IBRD .. .. .. 26 29 33 41 41 37 55 IDA .. .. .. 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. .. 826 610 935 1,234 689 1,262 1,043Official creditors .. .. .. 417 422 491 792 435 745 700Private creditors .. .. .. 409 188 445 442 254 517 344Memorandum items Concessional LDOD .. .. .. 322 297 327 316 315 323 383 Variable rate LDOD .. .. .. 3,781 5,596 7,713 7,751 7,665 7,611 11,031 Public sector LDOD .. .. .. 2,824 3,803 4,304 4,795 5,394 5,749 6,997 Private sector LDOD .. .. .. 1,844 3,378 5,284 5,138 5,097 5,217 7,987



167CROATIA



Total amount rescheduled .. .. .. 1,462 0 16 0 0 0 0 Debt stock rescheduled .. .. .. 975 0 0 0 0 0 0 Principal rescheduled .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Interest rescheduled .. .. .. 51 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 51 0 0 0 0 0 0Debt forgiven .. .. .. 0 0 0 0 0 0 1 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 1,479 2,673 2,489 348 526 17 3,986 Net flows on debt .. .. .. 543 2,790 1,492 1,375 1,182 479 2,612 Net change in interest arrears .. .. 0 -50 8 15 4 -4 17 5 Interest capitalized .. .. .. 51 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 -1 Cross-currency valuation .. .. 0 -97 -183 130 -267 -206 -214 662 Residual .. .. 0 1,032 57 851 -766 -446 -265 708

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. 7.0 6.3 6.0 6.4 5.8 5.2 4.7 Maturity (years) .. .. .. 6.5 6.9 13.8 8.0 6.3 9.5 8.1 Grace period (years) .. .. .. 2.5 4.2 2.7 3.4 4.7 6.3 4.9 Grant element (%) .. .. .. 10.9 14.7 13.6 12.9 17.8 23.4 22.5Official creditors Interest (%) .. .. .. 5.5 5.6 3.7 5.7 6.4 4.0 4.1 Maturity (years) .. .. .. 14.0 11.6 13.6 11.1 12.5 14.5 15.9 Grace period (years) .. .. .. 5.0 4.0 5.4 3.9 5.7 4.7 5.2 Grant element (%) .. .. .. 26.2 22.1 35.8 18.3 19.5 34.5 35.7Private creditors Interest (%) .. .. .. 7.7 6.6 6.4 6.7 5.8 5.6 4.8 Maturity (years) .. .. .. 3.0 5.4 13.8 7.0 5.9 7.9 7.0 Grace period (years) .. .. .. 1.2 4.2 2.2 3.2 4.6 6.8 4.9 Grant element (%) .. .. .. 3.6 12.4 9.8 11.4 17.7 20.0 20.6Memorandum items Commitments .. .. .. 873 1,363 1,284 1,678 1,214 2,061 1,378 Official creditors .. .. .. 282 321 189 385 67 478 175 Private creditors .. .. .. 591 1,043 1,095 1,294 1,146 1,583 1,202


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 455 271 131 69 44 31 19 11 7 3Principal 2,269 2,478 2,393 2,044 1,411 958 1,150 386 1,294 630Interest 640 582 486 373 282 211 162 123 70 58Official creditors Disbursements 237 179 100 67 44 31 19 11 7 3Principal 200 225 213 246 287 290 280 153 146 101Interest 69 66 63 58 50 42 32 23 17 12 Bilateral creditors Disbursements 24 13 7 2 1 0 0 0 0 0 Principal 121 123 111 118 126 120 125 14 7 4 Interest 28 24 20 17 12 8 4 1 0 0 Multilateral creditors Disbursements 212 166 93 64 43 31 19 11 7 3 Principal 79 101 101 127 161 170 155 139 138 97 Interest 42 42 43 41 37 33 28 22 17 12Private creditors Disbursements 218 92 31 2 1 0 0 0 0 0Principal 2,069 2,254 2,181 1,798 1,124 668 869 233 1,149 529Interest 571 516 423 315 232 169 130 101 52 46 Commercial banks Disbursements 203 79 26 0 0 0 0 0 0 0 Principal 230 365 182 186 144 134 114 103 239 67 Interest 59 55 46 41 35 29 23 18 12 5 Other private Disbursements 16 13 5 2 1 0 0 0 0 0 Principal 1,840 1,889 1,999 1,612 981 534 755 130 910 461 Interest 512 461 377 273 198 140 107 83 40 41

168CZECH REPUBLIC


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 20,066 23,077 24,215 22,797 21,525 22,339 26,419Long-term debt (LDOD) .. .. .. 14,346 15,009 16,600 14,010 12,508 12,758 15,661Public and publicly guaranteed .. .. .. 12,218 12,837 11,558 7,683 6,480 5,643 6,904Private nonguaranteed .. .. .. 2,128 2,172 5,043 6,327 6,028 7,115 8,757Use of IMF credit .. .. .. 0 0 0 0 0 0 0Short-term debt .. .. .. 5,720 8,068 7,615 8,787 9,018 9,581 10,758of which interest arrears on LDOD .. .. .. 14 8 11 40 59 50 90 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 14 8 11 40 59 50 90Memo: principal arrears on LDOD .. .. .. 149 122 48 98 128 127 248 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 149 122 48 98 128 127 248Memo: export credits .. .. .. 1,409 1,010 1,170 972 460 382 384

TOTAL DEBT FLOWS Disbursements .. .. .. 5,110 4,143 5,278 2,881 1,561 3,117 4,457Long-term debt .. .. .. 5,110 4,143 5,278 2,881 1,561 3,117 4,457IMF purchases .. .. .. 0 0 0 0 0 0 0Principal repayments .. .. .. 1,664 3,331 3,458 4,229 3,443 3,356 3,141Long-term debt .. .. .. 1,664 3,331 3,458 4,229 3,443 3,356 3,141IMF repurchases .. .. .. 0 0 0 0 0 0 0Net flows on debt .. .. .. 4,110 3,166 1,363 -205 -1,670 333 1,004of which short-term debt .. .. .. 664 2,354 -456 1,143 212 572 -312Interest payments (INT) .. .. .. 955 1,129 1,555 1,634 1,431 1,455 1,393Long-term debt .. .. .. 768 920 1,134 1,214 1,053 1,092 1,002IMF charges .. .. .. 0 0 0 0 0 0 0Short-term debt .. .. .. 187 209 420 420 378 364 391Net transfers on debt .. .. .. 3,155 2,037 -191 -1,839 -3,101 -1,123 -390Total debt service paid (TDS) .. .. .. 2,619 4,460 5,013 5,863 4,874 4,812 4,534Long-term debt .. .. .. 2,432 4,251 4,592 5,443 4,496 4,448 4,143IMF repurchases and charges .. .. .. 0 0 0 0 0 0 0Short-term debt (interest only) .. .. .. 187 209 420 420 378 364 391


NET RESOURCE FLOWS .. .. .. 5,552 2,555 6,672 5,205 3,819 6,110 10,501Net flow of long-term debt (ex. IMF) .. .. .. 3,446 812 1,820 -1,348 -1,882 -239 1,316Foreign direct investment (net) .. .. .. 1,435 1,287 3,700 6,313 4,987 5,641 9,323Portfolio equity flows .. .. .. 601 378 1,096 120 619 616 -265Grants (excluding technical coop.) .. .. .. 70 78 56 122 94 92 127Memo: technical coop. grants .. .. .. 58 38 40 27 20 19 32 official net resource flows .. .. .. 198 -4 38 113 163 299 119 private net resource flows .. .. .. 5,354 2,559 6,634 5,092 3,656 5,811 10,382

NET TRANSFERS .. .. .. 4,709 1,578 5,184 2,946 1,386 2,889 6,026Interest on long-term debt .. .. .. 768 920 1,134 1,214 1,053 1,092 1,002Profit remittances on FDI .. .. .. 75 56 354 1,045 1,379 2,129 3,473Memo: official net transfers .. .. .. 119 -76 -28 48 101 234 48 private net transfers .. .. .. 4,590 1,655 5,212 2,898 1,285 2,655 5,978


Gross national income (GNI) .. .. .. 57,018 52,185 55,896 53,631 50,061 54,989 65,733Exports of goods, serv. & inc. (XGS) .. .. .. 31,301 30,855 35,263 35,167 37,811 42,728 47,756Worker remit. & comp. of employees .. .. .. 111 71 346 311 294 257 333Imports of goods & services (MGS) .. .. .. 35,812 34,842 37,088 37,220 40,873 46,471 53,153International reserves (RES) .. .. .. 13,085 10,036 12,625 12,936 13,142 14,464 23,707Current account balance .. .. .. -4,128 -3,622 -1,308 -1,466 -2,690 -3,273 -4,485

4. DEBT INDICATORS


169CZECH REPUBLIC


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 14,346 15,009 16,600 14,010 12,508 12,758 15,661Public and publicly guaranteed .. .. .. 12,218 12,837 11,558 7,683 6,480 5,643 6,904Official creditors .. .. .. 1,323 1,117 1,138 1,065 1,057 1,195 1,470 Multilateral .. .. .. 927 766 794 732 706 806 1,026 Concessional .. .. .. 26 23 24 21 19 18 0 Bilateral .. .. .. 396 351 344 333 351 389 444 Concessional .. .. .. 84 93 152 166 219 270 320Private creditors .. .. .. 10,895 11,721 10,420 6,618 5,423 4,448 5,434 Bonds .. .. .. 480 672 1,376 1,662 1,259 1,237 1,568 Commercial banks .. .. .. 9,723 10,538 8,420 4,185 3,714 2,582 3,349 Other private .. .. .. 692 511 623 771 450 629 517Private nonguaranteed .. .. .. 2,128 2,172 5,043 6,327 6,028 7,115 8,757 Bonds .. .. .. 527 456 671 486 483 200 200 Commercial banks and other .. .. .. 1,601 1,715 4,372 5,841 5,545 6,915 8,557Memo: IBRD .. .. .. 435 382 380 324 260 205 185 IDA .. .. .. 0 0 0 0 0 0 0

DISBURSEMENTS .. .. .. 5,110 4,143 5,278 2,881 1,561 3,117 4,457Public and publicly guaranteed .. .. .. 4,140 3,422 3,012 1,152 385 369 1,005Official creditors .. .. .. 308 168 121 114 164 303 129 Multilateral .. .. .. 249 137 74 77 81 204 102 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 59 32 47 37 82 99 27 Concessional .. .. .. 39 21 46 37 77 77 18Private creditors .. .. .. 3,832 3,254 2,891 1,038 221 66 876 Bonds .. .. .. 50 264 637 427 0 54 430 Commercial banks .. .. .. 3,690 2,902 2,091 407 221 12 446 Other private .. .. .. 92 88 162 204 0 0 0Private nonguaranteed .. .. .. 970 721 2,266 1,729 1,175 2,749 3,452 Bonds .. .. .. 496 0 200 0 0 0 0 Commercial banks and other .. .. .. 474 721 2,066 1,729 1,175 2,749 3,452Memo: IBRD .. .. .. 42 23 26 21 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. .. 1,664 3,331 3,458 4,229 3,443 3,356 3,141Public and publicly guaranteed .. .. .. 1,370 2,530 2,034 2,147 1,426 1,268 965Official creditors .. .. .. 180 250 139 123 95 96 136 Multilateral .. .. .. 108 213 54 68 63 68 103 Concessional .. .. .. 0 0 0 0 0 0 20 Bilateral .. .. .. 72 37 85 55 33 29 33 Concessional .. .. .. 0 0 0 26 7 7 13Private creditors .. .. .. 1,190 2,280 1,895 2,024 1,331 1,172 829 Bonds .. .. .. 375 23 0 88 325 34 250 Commercial banks .. .. .. 503 1,998 1,842 1,885 789 1,017 466 Other private .. .. .. 312 258 53 51 216 120 113Private nonguaranteed .. .. .. 294 801 1,424 2,083 2,017 2,088 2,176 Bonds .. .. .. 0 36 0 164 0 282 0 Commercial banks and other .. .. .. 294 765 1,424 1,919 2,017 1,806 2,176Memo: IBRD .. .. .. 10 39 47 56 43 41 41 IDA .. .. .. 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. 3,446 812 1,820 -1,348 -1,882 -239 1,316Public and publicly guaranteed .. .. .. 2,770 892 978 -995 -1,041 -900 40Official creditors .. .. .. 128 -82 -18 -9 69 207 -8 Multilateral .. .. .. 141 -76 20 9 19 136 -1 Concessional .. .. .. 0 0 0 0 0 0 -20 Bilateral .. .. .. -13 -6 -38 -18 50 70 -6 Concessional .. .. .. 39 21 46 11 69 70 5Private creditors .. .. .. 2,642 974 996 -986 -1,109 -1,107 48 Bonds .. .. .. -325 241 637 339 -325 19 180 Commercial banks .. .. .. 3,187 903 250 -1,478 -568 -1,006 -20 Other private .. .. .. -219 -170 109 153 -216 -120 -113Private nonguaranteed .. .. .. 676 -80 842 -354 -841 661 1,276 Bonds .. .. .. 496 -36 200 -164 0 -282 0 Commercial banks and other .. .. .. 180 -44 642 -190 -841 943 1,276Memo: IBRD .. .. .. 32 -17 -21 -36 -43 -41 -41 IDA .. .. .. 0 0 0 0 0 0 0

170CZECH REPUBLIC


INTEREST PAYMENTS (LINT) .. .. .. 768 920 1,134 1,214 1,053 1,092 1,002Public and publicly guaranteed .. .. .. 637 803 1,003 942 759 627 471Official creditors .. .. .. 79 72 66 65 62 65 71 Multilateral .. .. .. 52 52 46 48 43 46 50 Concessional .. .. .. 2 1 0 1 1 1 1 Bilateral .. .. .. 27 20 20 17 19 19 21 Concessional .. .. .. 2 4 5 7 9 11 14Private creditors .. .. .. 558 731 937 877 697 563 400 Bonds .. .. .. 56 35 45 79 106 79 66 Commercial banks .. .. .. 412 639 848 720 509 407 301 Other private .. .. .. 90 57 43 78 82 77 33Private nonguaranteed .. .. .. 130 117 131 272 295 464 531 Bonds .. .. .. 4 31 31 47 38 20 18 Commercial banks and other .. .. .. 126 86 101 224 257 444 513Memo: IBRD .. .. .. 29 27 24 22 17 13 11 IDA .. .. .. 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT .. .. .. 2,678 -108 685 -2,562 -2,935 -1,331 314Public and publicly guaranteed .. .. .. 2,133 89 -25 -1,937 -1,800 -1,527 -431Official creditors .. .. .. 49 -154 -84 -74 6 142 -79 Multilateral .. .. .. 89 -128 -26 -39 -25 91 -52 Concessional .. .. .. -2 -1 0 -1 -1 -1 -20 Bilateral .. .. .. -40 -25 -58 -34 31 52 -27 Concessional .. .. .. 37 17 40 5 60 59 -9Private creditors .. .. .. 2,084 243 59 -1,864 -1,806 -1,670 -352 Bonds .. .. .. -381 205 592 260 -431 -59 115 Commercial banks .. .. .. 2,775 265 -599 -2,198 -1,077 -1,413 -321 Other private .. .. .. -309 -227 66 75 -298 -197 -146Private nonguaranteed .. .. .. 545 -197 710 -625 -1,136 196 745 Bonds .. .. .. 492 -67 169 -211 -38 -302 -18 Commercial banks and other .. .. .. 53 -130 541 -414 -1,098 498 763Memo: IBRD .. .. .. 3 -44 -44 -58 -60 -55 -52 IDA .. .. .. 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. .. 2,432 4,251 4,592 5,443 4,496 4,448 4,143Public and publicly guaranteed .. .. .. 2,007 3,333 3,037 3,089 2,185 1,896 1,436Official creditors .. .. .. 259 322 205 188 157 161 208 Multilateral .. .. .. 160 265 100 116 106 113 154 Concessional .. .. .. 2 1 0 1 1 1 20 Bilateral .. .. .. 99 57 106 71 51 47 54 Concessional .. .. .. 2 4 5 33 17 17 27Private creditors .. .. .. 1,748 3,011 2,831 2,901 2,027 1,735 1,228 Bonds .. .. .. 431 59 45 167 431 113 316 Commercial banks .. .. .. 915 2,637 2,690 2,605 1,298 1,425 767 Other private .. .. .. 402 315 96 129 298 197 146Private nonguaranteed .. .. .. 425 918 1,555 2,354 2,311 2,552 2,707 Bonds .. .. .. 4 67 31 211 38 302 18 Commercial banks and other .. .. .. 421 851 1,525 2,143 2,273 2,251 2,689Memo: IBRD .. .. .. 39 66 71 78 60 55 52 IDA .. .. .. 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. .. 2,399 1,973 1,439 1,099 970 347 215Official creditors .. .. .. 954 773 729 517 454 277 174Private creditors .. .. .. 1,445 1,199 709 583 516 71 41Memorandum items Concessional LDOD .. .. .. 110 116 177 186 238 288 320 Variable rate LDOD .. .. .. 5,241 6,397 10,831 10,212 9,137 10,048 11,804 Public sector LDOD .. .. .. 11,792 12,416 11,041 7,208 6,110 5,297 6,146 Private sector LDOD .. .. .. 2,554 2,593 5,559 6,803 6,398 7,461 9,515


Euro .. .. .. .. .. .. .. .. 33.4 35.4Deutsche mark .. .. .. 4.1 5.3 12.2 15.5 17.5 .. ..French franc .. .. .. 0.1 0.1 0.0 0.0 0.0 .. ..Japanese yen .. .. .. 5.7 4.5 5.1 7.3 2.9 2.6 2.0Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Swiss franc .. .. .. 2.0 1.6 0.6 0.3 0.0 0.0 0.0U.S.dollars .. .. .. 74.3 78.4 71.6 54.7 58.0 51.2 53.5Multiple currency .. .. .. 9.5 7.9 7.9 13.6 10.1 12.8 9.1Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0All other currencies .. .. 15.2 4.3 2.2 2.5 8.7 11.5 0.0 0.0

171CZECH REPUBLIC



Total amount rescheduled .. .. 0 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. .. 0 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0Debt forgiven .. .. 0 0 2 0 0 3 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. .. 3,848 3,011 1,138 -1,418 -1,272 814 4,080 Net flows on debt .. .. .. 4,110 3,166 1,363 -205 -1,670 333 1,004 Net change in interest arrears .. .. .. -13 -6 3 29 18 -8 40 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. .. 0 -2 0 0 -3 0 0 Cross-currency valuation .. .. 240 -237 -261 176 -187 -213 -129 397 Residual .. .. .. -11 113 -405 -1,055 596 618 1,190

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. 7.5 6.6 6.5 7.0 5.7 5.5 5.8 Maturity (years) .. .. .. 15.7 9.3 8.3 13.0 14.4 15.3 7.7 Grace period (years) .. .. .. 3.1 2.2 4.2 5.0 4.3 5.8 4.8 Grant element (%) .. .. .. 12.6 12.6 14.4 17.6 21.6 26.1 15.9Official creditors Interest (%) .. .. .. 6.3 5.9 9.5 3.3 5.8 5.3 0.0 Maturity (years) .. .. .. 19.1 18.7 9.4 16.4 18.4 17.3 0.0 Grace period (years) .. .. .. 6.1 5.2 1.4 3.9 5.8 4.2 0.0 Grant element (%) .. .. .. 23.9 25.9 1.0 39.0 26.2 26.7 0.0Private creditors Interest (%) .. .. .. 7.6 6.6 6.5 7.5 5.5 6.0 5.8 Maturity (years) .. .. .. 15.3 9.0 8.3 12.5 7.8 10.0 7.7 Grace period (years) .. .. .. 2.7 2.1 4.2 5.1 1.9 9.9 4.8 Grant element (%) .. .. .. 11.4 12.2 14.4 14.7 13.9 24.6 15.9Memorandum items Commitments .. .. .. 5,655 3,136 2,788 1,041 429 203 450 Official creditors .. .. .. 534 86 1 125 269 147 0 Private creditors .. .. .. 5,121 3,051 2,787 917 160 55 450


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 97 59 32 16 7 2 1 0 0 0Principal 3,294 2,008 2,059 2,118 1,307 1,296 1,180 796 743 387Interest 720 602 529 446 361 263 186 143 63 33Official creditors Disbursements 71 49 29 15 7 2 1 0 0 0Principal 152 155 153 159 131 117 108 103 103 95Interest 43 39 34 34 29 25 22 19 16 13 Bilateral creditors Disbursements 32 26 16 9 4 2 1 0 0 0 Principal 49 52 50 50 47 45 41 39 39 31 Interest 12 12 11 9 8 7 6 5 4 3 Multilateral creditors Disbursements 39 22 13 6 3 0 0 0 0 0 Principal 103 103 103 109 84 72 67 64 64 64 Interest 31 27 23 25 21 18 16 14 12 10Private creditors Disbursements 26 10 3 1 0 0 0 0 0 0Principal 3,142 1,853 1,906 1,959 1,176 1,179 1,072 693 641 292Interest 677 563 495 411 332 238 164 124 47 20 Commercial banks Disbursements 11 3 1 0 0 0 0 0 0 0 Principal 513 362 556 341 333 277 254 240 230 250 Interest 235 205 180 140 116 93 72 52 33 14 Other private Disbursements 16 8 3 1 0 0 0 0 0 0 Principal 2,629 1,491 1,351 1,618 842 902 818 453 411 42 Interest 442 357 315 271 216 145 92 72 15 7

172DJIBOUTI


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 1.4 10.2 27.0 27.8 13.5 8.2 8.3 11.3 16.9 36.8Long-term debt 1.4 10.2 27.0 23.6 12.0 5.1 3.2 7.7 12.2 30.9IMF purchases 0.0 0.0 0.0 4.2 1.5 3.2 5.1 3.6 4.6 5.9Principal repayments 0.1 2.2 8.9 8.8 5.0 3.3 7.3 10.7 8.9 9.5Long-term debt 0.1 2.2 8.9 8.8 5.0 3.3 6.3 8.4 6.8 7.2IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.3 2.0 2.3Net flows on debt 1.3 9.0 20.8 17.9 11.3 2.7 -0.9 -2.2 8.0 26.6of which short-term debt 0.0 1.0 2.8 -1.2 2.8 -2.2 -1.9 -2.9 0.1 -0.6Interest payments (INT) 0.0 1.7 6.0 3.2 2.2 2.1 2.7 2.8 1.7 2.5Long-term debt 0.0 0.9 2.1 2.7 1.5 1.5 1.9 2.2 1.3 2.2IMF charges 0.0 0.0 0.0 0.1 0.2 0.3 0.4 0.4 0.3 0.2Short-term debt 0.0 0.8 3.9 0.4 0.5 0.4 0.4 0.2 0.2 0.1Net transfers on debt 1.3 7.3 14.8 14.6 9.0 0.6 -3.6 -5.1 6.3 24.1Total debt service paid (TDS) 0.1 3.9 14.9 12.0 7.3 5.4 10.0 13.5 10.6 12.1Long-term debt 0.1 3.1 11.0 11.5 6.6 4.8 8.2 10.6 8.1 9.4IMF repurchases and charges 0.0 0.0 0.0 0.1 0.2 0.3 1.4 2.7 2.3 2.5Short-term debt (interest only) 0.0 0.8 3.9 0.4 0.5 0.4 0.4 0.2 0.2 0.1


NET RESOURCE FLOWS 5.6 38.0 148.9 60.5 47.8 53.1 43.6 30.5 27.6 52.7Net flow of long-term debt (ex. IMF) 1.3 8.0 18.0 14.9 6.9 1.8 -3.1 -0.7 5.4 23.7Foreign direct investment (net) 0.0 0.2 0.1 3.3 2.4 3.5 4.2 3.3 3.4 3.5Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 4.3 29.8 130.7 42.4 38.4 47.8 42.5 27.9 18.8 25.6Memo: technical coop. grants 6.2 27.8 43.8 41.0 31.1 28.9 29.2 23.6 25.1 23.8 official net resource flows 5.6 32.8 149.4 57.2 45.4 49.6 39.4 27.2 24.2 49.2 private net resource flows 0.0 5.2 -0.5 3.3 2.4 3.5 4.2 3.3 3.4 3.5

NET TRANSFERS 5.6 37.1 146.8 54.6 42.6 47.2 40.1 26.3 24.5 48.9Interest on long-term debt 0.0 0.9 2.1 2.7 1.5 1.5 1.9 2.2 1.3 2.2Profit remittances on FDI 0.0 0.0 0.0 3.2 3.6 4.4 1.6 2.0 1.8 1.6Memo: official net transfers 5.6 31.9 147.3 54.5 43.8 48.1 37.5 25.0 22.9 47.0 private net transfers 0.0 5.2 -0.5 0.1 -1.2 -0.9 2.6 1.3 1.6 1.9


Gross national income (GNI) .. .. .. 509.7 514.9 524.9 548.3 568.7 588.9 609.8Exports of goods, serv. & inc. (XGS) .. .. .. .. .. .. .. .. .. ..Worker remit. & comp. of employees 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. .. .. .. .. .. .. .. .. ..International reserves (RES) .. .. 93.6 77.0 66.6 66.5 70.6 67.8 70.3 73.7Current account balance .. .. .. .. .. .. .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. .. .. .. .. .. .. ..EDT / GNI (%) .. .. .. 58.0 53.2 54.8 50.1 46.1 44.6 55.0TDS / XGS (%) .. .. .. .. .. .. .. .. .. ..INT / XGS (%) .. .. .. .. .. .. .. .. .. ..INT / GNI (%) .. .. .. 0.6 0.4 0.4 0.5 0.5 0.3 0.4RES / EDT (%) .. .. 45.6 26.0 24.3 23.1 25.7 25.9 26.8 22.0RES / MGS (months) .. .. .. .. .. .. .. .. .. ..Short-term / EDT (%) 0.0 18.9 24.4 4.2 5.6 5.2 4.9 4.2 4.4 2.9Concessional / EDT (%) 100.0 45.7 74.0 93.9 92.1 91.4 90.2 90.5 89.3 87.8Multilateral / EDT (%) 0.0 7.3 41.9 46.3 49.8 50.2 51.3 52.8 54.7 58.7

173DJIBOUTI


5. LONG-TERM DEBT




NET FLOWS ON DEBT 1.3 8.0 18.0 14.9 6.9 1.8 -3.1 -0.7 5.4 23.7Public and publicly guaranteed 1.3 8.0 18.0 14.9 6.9 1.8 -3.1 -0.7 5.4 23.7Official creditors 1.3 3.0 18.6 14.9 6.9 1.8 -3.1 -0.7 5.4 23.7 Multilateral 0.0 2.4 5.4 6.2 7.5 3.0 0.2 3.7 10.6 23.8 Concessional 0.0 1.0 5.6 6.5 7.8 3.2 0.2 3.7 10.1 22.9 Bilateral 1.3 0.6 13.2 8.6 -0.6 -1.2 -3.3 -4.4 -5.2 -0.2 Concessional 1.3 -1.7 13.3 8.7 -0.6 -1.2 -3.3 -4.4 -5.2 -2.0Private creditors 0.0 5.0 -0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 5.0 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 2.5 1.0 3.0 1.7 0.7 3.4 8.2 17.1

174DJIBOUTI



NET TRANSFERS ON DEBT 1.3 7.1 15.9 12.1 5.4 0.3 -5.0 -2.9 4.1 21.4Public and publicly guaranteed 1.3 7.1 15.9 12.1 5.4 0.3 -5.0 -2.9 4.1 21.4Official creditors 1.3 2.1 16.6 12.1 5.4 0.3 -5.0 -2.9 4.1 21.4 Multilateral 0.0 2.4 4.1 4.6 6.5 1.9 -1.0 2.3 9.9 22.2 Concessional 0.0 1.0 4.3 4.9 6.8 2.1 -1.0 2.3 9.4 21.4 Bilateral 1.3 -0.3 12.5 7.5 -1.1 -1.6 -4.0 -5.1 -5.8 -0.8 Concessional 1.3 -2.4 12.6 7.6 -1.1 -1.6 -4.0 -5.1 -5.8 -2.6Private creditors 0.0 5.0 -0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 5.0 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 2.3 0.7 2.6 1.3 0.3 3.0 7.9 16.7





175DJIBOUTI




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 26.8 14.0 -22.1 14.1 -13.2 -12.5 0.6 72.6 Net flows on debt 1.3 9.0 20.8 17.9 11.3 2.7 -0.9 -2.2 8.0 26.6 Net change in interest arrears .. .. 0.1 0.7 0.0 2.1 0.2 0.3 0.6 -1.3 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 -16.1 0.0 0.0 0.0 0.0 -1.2 Cross-currency valuation .. .. 3.0 -6.3 -16.4 2.0 -10.5 -6.5 -3.9 16.0 Residual .. .. 2.9 1.8 -0.9 7.4 -2.0 -4.0 -4.1 32.5



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


176DOMINICA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements .. .. 11.5 7.4 2.8 8.6 9.7 55.2 33.0 14.4Long-term debt .. .. 11.5 7.4 2.8 8.6 9.7 55.2 33.0 11.8IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.7Principal repayments .. .. 3.8 3.9 6.9 7.1 7.2 6.9 7.5 5.4Long-term debt .. .. 2.5 3.1 6.3 6.9 7.2 6.9 7.5 5.4IMF repurchases .. 0.0 1.4 0.8 0.6 0.2 0.0 0.0 0.0 0.0Net flows on debt .. .. 7.8 12.2 -7.2 7.3 3.4 48.6 28.6 10.6of which short-term debt .. .. 0.1 8.7 -3.2 5.8 1.0 0.2 3.0 1.5Interest payments (INT) .. .. 2.0 3.1 4.1 3.5 3.6 4.0 8.3 5.8Long-term debt .. .. 1.6 2.1 3.1 2.8 2.6 2.9 7.4 5.1IMF charges .. 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. .. 0.2 0.9 1.0 0.7 1.0 1.1 0.9 0.7Net transfers on debt .. .. 5.9 9.1 -11.3 3.8 -0.2 44.6 20.2 4.8Total debt service paid (TDS) .. .. 5.8 7.0 11.0 10.7 10.9 10.9 15.8 11.1Long-term debt .. .. 4.1 5.2 9.4 9.7 9.8 9.8 14.9 10.4IMF repurchases and charges .. 0.0 1.6 0.8 0.6 0.2 0.0 0.0 0.0 0.0Short-term debt (interest only) .. .. 0.2 0.9 1.0 0.7 1.0 1.1 0.9 0.7


NET RESOURCE FLOWS .. .. 25.0 44.8 24.8 32.3 25.4 64.1 46.3 42.3Net flow of long-term debt (ex. IMF) .. .. 9.0 4.3 -3.5 1.7 2.5 48.4 25.6 6.4Foreign direct investment (net) .. .. 12.9 17.8 21.1 6.5 18.0 10.8 11.9 14.4Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. .. 3.1 22.6 7.2 24.1 4.9 5.0 8.8 21.4Memo: technical coop. grants .. .. 2.9 5.5 4.3 5.0 3.7 3.3 2.8 2.7 official net resource flows .. .. 12.2 27.0 3.7 25.8 7.4 23.7 22.6 26.1 private net resource flows .. .. 12.8 17.8 21.1 6.5 18.0 40.4 23.7 16.2

NET TRANSFERS .. .. 18.0 25.6 6.1 14.3 0.0 34.9 25.3 24.2Interest on long-term debt .. .. 1.6 2.1 3.1 2.8 2.6 2.9 7.4 5.1Profit remittances on FDI .. .. 5.4 17.0 15.7 15.2 22.8 26.3 13.6 13.0Memo: official net transfers .. .. 10.6 24.8 0.7 23.0 4.8 20.8 18.2 22.7 private net transfers .. .. 7.4 0.8 5.4 -8.7 -4.8 14.1 7.1 1.5



4. DEBT INDICATORS


177DOMINICA


5. LONG-TERM DEBT


DISBURSEMENTS .. .. 11.5 7.4 2.8 8.6 9.7 55.2 33.0 11.8Public and publicly guaranteed .. .. 11.5 7.4 2.8 8.6 9.7 55.2 33.0 11.8Official creditors .. .. 11.5 7.4 2.8 8.6 9.7 25.7 21.3 10.0 Multilateral .. .. 8.3 4.1 2.8 3.7 9.2 19.3 15.4 8.8 Concessional .. .. 6.7 3.2 2.8 3.3 6.1 13.9 10.2 6.9 Bilateral .. .. 3.2 3.3 0.0 5.0 0.5 6.3 5.9 1.2 Concessional .. .. 3.2 3.3 0.0 5.0 0.3 5.6 5.9 1.2Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 29.6 11.8 1.8 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 29.6 0.0 0.0 Commercial banks .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 11.8 1.8Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.4 1.3 0.7 0.3 0.8 IDA .. 0.0 0.9 0.0 1.4 1.6 0.6 -0.1 0.9 1.8


NET FLOWS ON DEBT .. .. 9.0 4.3 -3.5 1.7 2.5 48.4 25.6 6.4Public and publicly guaranteed .. .. 9.0 4.3 -3.5 1.7 2.5 48.4 25.6 6.4Official creditors .. .. 9.1 4.3 -3.5 1.7 2.5 18.8 13.8 4.7 Multilateral .. .. 6.3 1.7 -0.6 -0.2 5.1 15.5 10.0 4.9 Concessional .. .. 4.6 1.0 0.0 0.1 2.7 10.6 5.4 3.4 Bilateral .. .. 2.9 2.6 -2.8 1.9 -2.6 3.3 3.8 -0.2 Concessional .. .. 2.9 2.6 -2.8 1.9 -2.8 2.6 3.8 -0.2Private creditors .. .. -0.1 0.0 0.0 0.0 0.0 29.6 11.8 1.8 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 29.6 0.0 0.0 Commercial banks .. .. -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 11.8 1.8Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.4 1.3 0.7 0.3 0.7 IDA .. 0.0 0.9 -0.1 1.3 1.5 0.5 -0.2 0.8 1.7

178DOMINICA



NET TRANSFERS ON DEBT .. .. 7.4 2.2 -6.6 -1.1 -0.1 45.4 18.2 1.4Public and publicly guaranteed .. .. 7.4 2.2 -6.6 -1.1 -0.1 45.4 18.2 1.4Official creditors .. .. 7.5 2.2 -6.6 -1.1 -0.1 15.8 9.4 1.3 Multilateral .. .. 4.9 0.3 -2.4 -1.9 3.3 13.5 6.8 2.4 Concessional .. .. 3.3 -0.2 -1.3 -1.2 1.2 9.3 3.3 1.7 Bilateral .. .. 2.6 1.9 -4.1 0.8 -3.4 2.3 2.5 -1.1 Concessional .. .. 2.6 1.9 -4.1 0.8 -3.6 1.6 2.7 -1.0Private creditors .. .. -0.1 0.0 0.0 0.0 0.0 29.6 8.8 0.1 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 29.6 -2.8 -1.4 Commercial banks .. .. -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 11.6 1.4Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.4 1.3 0.6 0.1 0.5 IDA .. 0.0 0.8 -0.2 1.2 1.4 0.4 -0.3 0.7 1.6





179DOMINICA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 10.4 11.5 -11.7 9.2 0.4 48.1 48.3 -6.1 Net flows on debt .. .. 7.8 12.2 -7.2 7.3 3.4 48.6 28.6 10.6 Net change in interest arrears .. .. 0.0 0.2 -0.4 0.0 0.0 0.0 0.0 2.1 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -3.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 4.7 -2.2 -5.4 0.7 -3.0 -2.7 -1.6 4.4 Residual .. .. 1.2 1.3 1.3 1.2 -0.1 2.3 21.2 -23.1

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. 3.0 2.7 3.7 3.3 6.4 4.4 6.0 1.6 Maturity (years) .. .. 25.1 26.2 19.6 24.1 18.6 18.9 14.5 21.7 Grace period (years) .. .. 8.5 8.1 4.8 7.6 10.4 5.8 4.5 7.3 Grant element (%) .. .. 53.8 56.3 40.6 49.4 24.9 34.0 27.2 58.6Official creditors Interest (%) .. .. 3.0 2.7 3.7 3.3 3.2 5.2 4.2 1.6 Maturity (years) .. .. 25.1 26.2 19.6 24.1 22.9 21.3 16.2 21.7 Grace period (years) .. .. 8.5 8.1 4.8 7.6 4.9 6.9 5.4 7.3 Grant element (%) .. .. 53.8 56.3 40.6 49.4 45.5 34.1 35.8 58.6Private creditors Interest (%) .. .. 0.0 0.0 0.0 0.0 9.0 1.3 14.3 0.0 Maturity (years) .. .. 0.0 0.0 0.0 0.0 15.0 9.2 6.7 0.0 Grace period (years) .. .. 0.0 0.0 0.0 0.0 15.0 1.7 0.2 0.0 Grant element (%) .. .. 0.0 0.0 0.0 0.0 7.6 33.9 -12.9 0.0Memorandum items Commitments .. .. 3 19 17 19 56 56 14 13 Official creditors .. .. 3 19 17 19 26 45 12 13 Private creditors .. .. 0 0 0 0 31 11 3 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


180DOMINICAN REPUBLIC


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 360 2,002 4,372 4,331 4,240 4,404 4,686 4,541 5,138 6,256Long-term debt (LDOD) 353 1,473 3,518 3,529 3,461 3,482 3,584 3,311 3,794 4,206Public and publicly guaranteed 212 1,219 3,419 3,523 3,461 3,482 3,584 3,311 3,794 4,035Private nonguaranteed 141 254 99 5 0 0 0 0 0 171Use of IMF credit 7 49 72 96 29 56 54 52 50 27Short-term debt 0 480 782 707 750 866 1,047 1,178 1,294 2,023of which interest arrears on LDOD 0 7 506 240 135 122 162 28 24 32 Official creditors 0 3 304 176 76 56 90 22 17 24 Private creditors 0 4 202 64 59 66 72 6 7 8Memo: principal arrears on LDOD 1 12 614 292 273 286 316 56 48 82 Official creditors 0 4 444 240 228 230 254 52 45 75 Private creditors 1 8 169 51 45 56 62 4 3 6Memo: export credits 0 0 967 1,134 1,103 683 624 567 459 559

TOTAL DEBT FLOWS Disbursements 60 481 138 133 106 187 270 303 897 735Long-term debt 60 481 138 133 106 133 270 303 897 735IMF purchases 0 0 0 0 0 54 0 0 0 0Principal repayments 32 200 146 250 255 181 174 257 377 404Long-term debt 27 135 88 190 193 153 174 257 377 378IMF repurchases 5 65 58 60 62 29 0 0 0 26Net flows on debt 28 438 15 -52 -1 134 237 311 641 1,052of which short-term debt 0 156 23 65 148 128 142 265 120 721Interest payments (INT) 13 179 86 198 201 193 204 263 245 267Long-term debt 13 121 59 163 173 159 158 211 193 212IMF charges 0 5 9 7 3 1 2 3 2 1Short-term debt 0 54 19 28 25 34 44 50 50 54Net transfers on debt 15 259 -71 -250 -202 -60 33 48 395 786Total debt service paid (TDS) 45 379 232 448 456 375 378 520 622 671Long-term debt 39 256 147 354 366 311 332 468 570 590IMF repurchases and charges 5 69 67 66 66 29 2 3 2 27Short-term debt (interest only) 0 54 19 28 25 34 44 50 50 54


NET RESOURCE FLOWS 114 453 212 93 385 741 1,518 1,043 1,646 1,369Net flow of long-term debt (ex. IMF) 33 346 50 -57 -87 -20 96 46 521 357Foreign direct investment (net) 72 93 133 97 421 700 1,338 953 1,079 961Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 9 14 29 54 51 61 84 44 46 51Memo: technical coop. grants 5 16 44 50 48 45 47 63 73 75 official net resource flows 39 304 83 25 -39 35 138 -48 3 18 private net resource flows 75 150 129 68 424 706 1,380 1,092 1,643 1,351

NET TRANSFERS 101 267 64 -674 -500 -248 396 -236 363 11Interest on long-term debt 13 121 59 163 173 159 158 211 193 212Profit remittances on FDI 0 66 90 604 712 831 963 1,068 1,090 1,147Memo: official net transfers 35 278 28 -96 -166 -84 18 -205 -137 -93 private net transfers 66 -11 36 -578 -334 -165 378 -31 500 104


Gross national income (GNI) 1,476 6,421 6,759 13,450 14,547 15,134 16,359 18,694 20,395 20,442Exports of goods, serv. & inc. (XGS) 284 1,496 2,233 7,237 8,290 8,976 9,724 10,953 10,466 10,478Worker remit. & comp. of employees 25 183 315 963 1,142 1,406 1,631 1,839 1,982 2,174Imports of goods & services (MGS) 392 2,238 2,568 7,704 8,716 9,975 10,482 12,193 11,426 11,602International reserves (RES) 32 279 69 357 396 507 699 632 1,105 475Current account balance -102 -720 -280 -213 -163 -338 -429 -1,027 -741 -875

4. DEBT INDICATORS

EDT / XGS (%) 126.9 133.8 195.8 59.8 51.1 49.1 48.2 41.5 49.1 59.7EDT / GNI (%) 24.4 31.2 64.7 32.2 29.1 29.1 28.6 24.3 25.2 30.6TDS / XGS (%) 15.8 25.3 10.4 6.2 5.5 4.2 3.9 4.8 5.9 6.4INT / XGS (%) 4.4 12.0 3.9 2.7 2.4 2.2 2.1 2.4 2.3 2.5INT / GNI (%) 0.9 2.8 1.3 1.5 1.4 1.3 1.2 1.4 1.2 1.3RES / EDT (%) 9.0 13.9 1.6 8.2 9.3 11.5 14.9 13.9 21.5 7.6RES / MGS (months) 1.0 1.5 0.3 0.6 0.5 0.6 0.8 0.6 1.2 0.5Short-term / EDT (%) 0.1 24.0 17.9 16.3 17.7 19.7 22.3 25.9 25.2 32.3Concessional / EDT (%) 46.5 20.1 27.5 37.5 36.6 34.9 32.5 31.1 25.8 20.6Multilateral / EDT (%) 3.9 10.2 19.6 23.4 22.8 22.9 24.0 24.9 24.1 21.7



5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 353 1,473 3,518 3,529 3,461 3,482 3,584 3,311 3,794 4,206Public and publicly guaranteed 212 1,219 3,419 3,523 3,461 3,482 3,584 3,311 3,794 4,035Official creditors 202 786 2,383 2,890 2,827 2,839 2,900 2,541 2,458 2,478 Multilateral 14 205 858 1,014 965 1,008 1,124 1,132 1,237 1,357 Concessional 0 138 432 454 454 464 472 452 437 427 Bilateral 188 581 1,525 1,876 1,861 1,831 1,776 1,409 1,221 1,121 Concessional 167 264 772 1,169 1,100 1,074 1,052 963 890 863Private creditors 10 434 1,036 634 634 644 684 770 1,336 1,557 Bonds 0 0 0 520 518 514 510 506 987 967 Commercial banks 0 386 775 37 59 71 103 249 333 559 Other private 9 48 261 77 58 59 71 15 16 30Private nonguaranteed 141 254 99 5 0 0 0 0 0 171 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 141 254 99 5 0 0 0 0 0 171Memo: IBRD 11 66 238 244 209 204 275 292 317 350 IDA 0 18 20 17 16 15 15 14 13 13



NET FLOWS ON DEBT 33 346 50 -57 -87 -20 96 46 521 357Public and publicly guaranteed 31 353 56 -43 -82 -20 96 46 521 186Official creditors 30 289 54 -29 -90 -26 54 -93 -43 -33 Multilateral 11 87 46 25 -6 24 116 37 120 94 Concessional 0 51 15 17 5 9 4 -5 -12 -18 Bilateral 19 202 8 -54 -84 -50 -62 -130 -163 -127 Concessional 21 33 11 -40 -51 -28 -27 -70 -54 -47Private creditors 1 64 2 -14 9 6 42 139 564 219 Bonds 0 0 0 0 -2 -4 -4 -4 480 -20 Commercial banks 0 42 0 5 24 14 33 147 83 224 Other private 1 22 2 -19 -14 -4 13 -4 1 14Private nonguaranteed 2 -7 -5 -14 -5 0 0 0 0 171 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 -7 -5 -14 -5 0 0 0 0 171Memo: IBRD 11 37 20 -19 -15 -6 72 18 26 33 IDA 0 0 0 -1 -1 -1 -1 -1 -1 -1




NET TRANSFERS ON DEBT 20 226 -8 -221 -260 -178 -63 -165 328 146Public and publicly guaranteed 27 261 0 -206 -254 -178 -63 -165 328 -16Official creditors 26 264 -1 -150 -217 -145 -66 -250 -184 -144 Multilateral 10 83 14 -26 -53 -21 65 -21 55 32 Concessional 0 50 11 8 -4 0 -4 -13 -20 -25 Bilateral 16 181 -15 -124 -164 -124 -131 -228 -239 -175 Concessional 20 27 4 -87 -104 -70 -67 -125 -100 -76Private creditors 1 -2 1 -55 -38 -34 4 84 512 128 Bonds 0 0 0 -34 -36 -39 -36 -41 448 -83 Commercial banks 0 -22 0 1 14 10 27 132 64 197 Other private 1 20 1 -22 -15 -4 12 -6 0 13Private nonguaranteed -6 -35 -8 -15 -5 0 0 0 0 162 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -6 -35 -8 -15 -5 0 0 0 0 162Memo: IBRD 10 34 6 -38 -31 -20 55 -4 2 11 IDA 0 0 0 -1 -1 -1 -1 -1 -1 -1


UNDISBURSED DEBT 64 631 510 461 594 1,234 1,477 1,288 1,971 2,405Official creditors 42 537 483 439 529 874 990 915 966 1,077Private creditors 22 94 27 22 65 360 487 373 1,005 1,329Memorandum items Concessional LDOD 167 402 1,204 1,622 1,554 1,539 1,524 1,414 1,327 1,290 Variable rate LDOD 141 695 1,104 1,272 1,228 1,252 1,375 1,376 1,495 1,789 Public sector LDOD 197 1,184 3,391 3,499 3,438 3,461 3,569 3,299 3,782 4,024 Private sector LDOD 156 289 127 30 23 22 15 13 12 182







8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 334 -117 -91 164 282 -145 597 1,118 Net flows on debt 28 438 15 -52 -1 134 237 311 641 1,052 Net change in interest arrears .. .. 267 26 -105 -13 40 -134 -4 8 Interest capitalized .. .. 2 7 110 29 0 0 0 1 Debt forgiveness or reduction .. .. -7 -3 0 0 0 -1 0 0 Cross-currency valuation .. .. 52 -104 -96 43 9 -51 -40 55 Residual .. .. 5 9 0 -28 -4 -270 -1 2

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 2.4 8.9 5.9 5.5 7.1 6.7 5.8 6.5 6.7 2.6 Maturity (years) 28.4 12.3 24.5 16.5 19.1 16.9 14.2 9.6 9.4 12.0 Grace period (years) 4.8 4.0 6.4 4.4 4.2 3.3 3.8 2.2 3.4 2.7 Grant element (%) 53.4 10.2 31.3 26.9 16.9 18.0 22.2 13.9 13.4 34.6Official creditors Interest (%) 2.4 7.5 5.8 5.1 7.4 6.5 5.4 6.6 6.3 3.4 Maturity (years) 28.4 12.8 24.9 18.5 21.5 22.1 16.8 9.6 19.7 17.2 Grace period (years) 4.8 4.3 6.4 5.0 5.0 4.0 4.5 1.7 4.4 2.0 Grant element (%) 53.4 17.5 32.0 31.1 17.4 22.1 27.0 12.6 21.8 33.9Private creditors Interest (%) 0.0 11.8 9.8 7.1 6.5 6.8 6.5 6.5 6.7 2.2 Maturity (years) 0.0 11.3 9.1 8.5 12.7 9.6 9.8 9.6 6.9 9.7 Grace period (years) 0.0 3.4 4.6 1.8 2.3 2.2 2.6 2.7 3.1 2.9 Grant element (%) 0.0 -3.9 -0.2 9.9 15.7 12.1 14.2 14.9 11.4 34.9Memorandum items Commitments 20 519 204 126 264 764 551 451 1,588 1,042 Official creditors 20 342 199 101 192 449 346 205 307 320 Private creditors 0 176 4 25 72 315 205 246 1,281 722


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 898 755 419 173 80 38 21 5 5 3Principal 583 631 721 1,089 505 376 350 278 240 212Interest 209 209 197 177 110 94 82 72 62 55Official creditors Disbursements 270 319 231 114 68 38 21 5 5 3Principal 340 349 393 294 253 189 182 171 156 142Interest 103 101 96 86 76 68 61 54 47 41 Bilateral creditors Disbursements 64 73 45 25 13 6 3 1 0 0 Principal 200 173 183 173 118 61 55 50 40 32 Interest 35 30 25 19 12 9 7 6 5 4 Multilateral creditors Disbursements 206 247 186 88 55 33 18 5 5 3 Principal 140 175 210 121 136 128 127 121 116 109 Interest 68 71 71 68 64 59 53 48 43 38Private creditors Disbursements 628 436 188 59 13 0 0 0 0 0Principal 243 283 328 795 251 187 168 107 84 70Interest 106 108 102 91 34 27 21 18 15 13 Commercial banks Disbursements 480 271 106 33 0 0 0 0 0 0 Principal 196 238 238 197 152 87 74 73 53 43 Interest 41 41 34 25 17 13 10 8 5 4 Other private Disbursements 148 165 82 26 13 0 0 0 0 0 Principal 47 45 91 599 100 100 94 34 31 27 Interest 66 67 68 66 16 14 11 10 10 9

184ECUADOR


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 364 5,997 12,107 14,495 15,418 15,640 16,257 13,717 14,481 16,452Long-term debt (LDOD) 245 4,422 10,029 12,764 13,216 13,299 15,126 12,772 12,907 13,828Public and publicly guaranteed 195 3,301 9,865 12,444 12,876 13,089 13,556 11,337 11,251 11,242Private nonguaranteed 49 1,122 164 320 340 210 1,571 1,435 1,656 2,586Use of IMF credit 14 0 265 145 133 70 0 148 190 308Short-term debt 106 1,575 1,814 1,586 2,069 2,272 1,131 797 1,384 2,315of which interest arrears on LDOD 0 0 1,522 77 84 84 82 3 2 2 Official creditors 0 0 10 61 75 76 74 1 1 0 Private creditors 0 0 1,512 16 9 9 8 2 2 1Memo: principal arrears on LDOD 0 0 1,096 178 251 280 576 6 6 6 Official creditors 0 0 6 121 192 201 497 0 0 0 Private creditors 0 0 1,090 57 59 79 79 6 6 6Memo: export credits 0 0 2,090 1,410 1,240 605 599 623 676 860

TOTAL DEBT FLOWS Disbursements 58 1,283 638 1,090 1,828 714 1,269 1,145 1,401 1,962Long-term debt 48 1,283 606 1,090 1,828 714 1,269 996 1,353 1,864IMF purchases 10 0 32 0 0 0 0 150 48 98Principal repayments 33 535 610 646 1,069 840 1,179 1,072 1,074 1,123Long-term debt 26 535 495 623 1,066 773 1,111 1,072 1,074 1,123IMF repurchases 7 0 115 23 3 67 68 0 0 0Net flows on debt 25 1,174 0 653 1,235 76 -1,048 -181 915 1,771of which short-term debt 0 426 -28 210 475 202 -1,139 -254 587 932Interest payments (INT) 10 473 474 675 823 922 1,078 822 982 1,070Long-term debt 10 365 416 576 715 812 988 717 879 878IMF charges 0 0 30 7 6 5 2 4 7 8Short-term debt 0 108 28 92 101 104 87 102 95 184Net transfers on debt 15 701 -474 -22 412 -846 -2,126 -1,003 -67 701Total debt service paid (TDS) 43 1,008 1,084 1,321 1,891 1,762 2,256 1,894 2,055 2,193Long-term debt 36 900 911 1,199 1,781 1,586 2,099 1,789 1,953 2,001IMF repurchases and charges 7 0 145 30 9 72 69 4 7 8Short-term debt (interest only) 0 108 28 92 101 104 87 102 95 184


NET RESOURCE FLOWS 113 825 290 1,027 1,561 885 860 712 1,686 2,120Net flow of long-term debt (ex. IMF) 21 748 110 466 762 -59 158 -76 279 741Foreign direct investment (net) 89 70 126 500 724 870 648 720 1,330 1,275Portfolio equity flows 0 0 0 6 22 5 1 0 1 1Grants (excluding technical coop.) 3 7 53 55 53 69 53 68 76 103Memo: technical coop. grants 9 28 65 99 85 84 74 86 93 119 official net resource flows 13 231 106 167 63 257 224 239 195 17 private net resource flows 101 594 184 860 1,498 628 636 472 1,492 2,103

NET TRANSFERS 103 349 -251 262 651 -158 -377 -284 474 940Interest on long-term debt 10 365 416 576 715 812 988 717 879 878Profit remittances on FDI 0 111 125 189 194 231 249 280 333 302Memo: official net transfers 8 142 -106 -104 -256 -20 -67 -38 -131 -292 private net transfers 95 207 -145 366 908 -138 -310 -247 606 1,232


Gross national income (GNI) 1,646 11,477 9,145 20,255 22,620 22,095 15,375 14,530 19,755 22,689Exports of goods, serv. & inc. (XGS) .. 2,975 3,337 6,178 6,819 5,918 6,505 7,374 7,236 7,635Worker remit. & comp. of employees 0 0 51 489 648 799 1,090 1,322 1,421 1,438Imports of goods & services (MGS) .. 3,647 3,754 6,239 7,253 7,989 5,592 6,488 8,166 9,078International reserves (RES) 76 1,257 1,009 2,011 2,213 1,739 1,888 1,179 1,074 1,004Current account balance .. -642 -360 -55 -457 -2,099 918 921 -800 -1,222

4. DEBT INDICATORS


185ECUADOR


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 245 4,422 10,029 12,764 13,216 13,299 15,126 12,772 12,907 13,828Public and publicly guaranteed 195 3,301 9,865 12,444 12,876 13,089 13,556 11,337 11,251 11,242Official creditors 133 1,325 4,065 5,149 4,905 5,234 5,741 6,065 6,042 6,134 Multilateral 50 323 2,127 2,944 2,872 3,165 3,351 3,437 3,536 3,505 Concessional 10 102 451 654 639 634 631 613 595 577 Bilateral 83 1,002 1,938 2,206 2,033 2,070 2,390 2,628 2,506 2,629 Concessional 75 188 468 1,214 1,145 1,300 1,415 1,417 1,339 1,390Private creditors 62 1,976 5,800 7,294 7,971 7,855 7,814 5,272 5,209 5,109 Bonds 3 55 0 6,013 6,334 6,325 6,306 3,950 3,950 3,950 Commercial banks 4 1,697 4,884 942 1,317 1,262 1,271 1,187 1,146 1,054 Other private 55 224 917 339 320 268 237 136 113 105Private nonguaranteed 49 1,122 164 320 340 210 1,571 1,435 1,656 2,586 Bonds 0 0 0 10 0 0 0 0 0 0 Commercial banks and other 49 1,122 164 310 340 210 1,571 1,435 1,656 2,586Memo: IBRD 34 109 816 980 851 854 861 840 889 829 IDA 6 36 32 25 24 23 22 21 20 19

DISBURSEMENTS 48 1,283 606 1,090 1,828 714 1,269 996 1,353 1,864Public and publicly guaranteed 41 968 575 1,090 1,748 714 756 615 630 430Official creditors 16 348 329 478 414 614 558 516 526 367 Multilateral 5 91 227 317 355 463 411 416 437 231 Concessional 2 11 24 34 15 16 17 9 9 5 Bilateral 12 257 101 161 59 151 147 100 89 137 Concessional 9 4 31 135 46 146 145 99 82 40Private creditors 25 620 246 612 1,334 100 198 99 104 63 Bonds 0 0 0 0 500 0 0 0 0 0 Commercial banks 2 497 39 546 793 100 188 99 104 54 Other private 22 122 207 66 41 0 11 0 0 8Private nonguaranteed 7 315 30 0 80 0 513 381 723 1,434 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 7 315 30 0 80 0 513 381 723 1,434Memo: IBRD 2 34 47 89 45 85 90 69 124 25 IDA 2 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 26 535 495 623 1,066 773 1,111 1,072 1,074 1,123Public and publicly guaranteed 16 271 470 493 1,006 643 625 555 574 616Official creditors 7 125 276 366 404 426 387 344 408 453 Multilateral 3 16 164 234 288 220 226 268 292 331 Concessional 1 0 8 25 26 22 22 22 24 27 Bilateral 4 108 112 132 116 206 162 76 116 122 Concessional 3 8 2 36 45 53 57 55 78 77Private creditors 8 147 194 127 602 217 237 211 167 163 Bonds 0 14 0 10 126 10 19 0 0 0 Commercial banks 2 110 27 56 417 155 178 184 145 146 Other private 6 23 167 61 59 53 40 27 22 17Private nonguaranteed 11 263 25 130 60 130 486 517 499 508 Bonds 0 0 0 0 10 0 0 0 0 0 Commercial banks and other 11 263 25 130 50 130 486 517 499 508Memo: IBRD 2 10 41 118 101 79 82 89 75 85 IDA 0 0 1 1 1 1 1 1 1 1

NET FLOWS ON DEBT 21 748 110 466 762 -59 158 -76 279 741Public and publicly guaranteed 25 696 105 596 742 71 132 60 56 -186Official creditors 9 223 53 112 10 188 171 171 118 -85 Multilateral 1 75 64 83 67 243 186 147 145 -100 Concessional 1 11 16 9 -11 -7 -5 -13 -15 -22 Bilateral 8 149 -11 29 -57 -55 -15 24 -27 15 Concessional 6 -4 28 99 1 93 87 43 4 -37Private creditors 16 473 52 484 732 -117 -39 -112 -62 -101 Bonds 0 -14 0 -10 374 -10 -19 0 0 0 Commercial banks 0 387 12 490 375 -55 9 -85 -41 -92 Other private 17 99 40 4 -18 -53 -29 -27 -22 -8Private nonguaranteed -4 52 5 -130 20 -130 27 -136 223 927 Bonds 0 0 0 0 -10 0 0 0 0 0 Commercial banks and other -4 52 5 -130 30 -130 27 -136 223 927Memo: IBRD 0 24 5 -30 -56 6 8 -21 48 -60 IDA 2 0 -1 -1 -1 -1 -1 -1 -1 -1

186ECUADOR



NET TRANSFERS ON DEBT 11 383 -305 -109 47 -871 -830 -793 -600 -137Public and publicly guaranteed 19 408 -299 25 31 -740 -682 -485 -645 -868Official creditors 5 134 -160 -159 -309 -89 -120 -106 -208 -395 Multilateral -1 56 -77 -108 -154 65 -14 -93 -65 -296 Concessional 1 9 8 -3 -25 -18 -16 -24 -26 -34 Bilateral 6 78 -83 -51 -155 -153 -106 -12 -143 -99 Concessional 5 -9 21 66 -38 48 40 15 -40 -76Private creditors 14 274 -139 184 340 -652 -562 -379 -438 -474 Bonds 0 -20 0 -250 125 -415 -410 -140 -258 -285 Commercial banks -1 203 -120 446 261 -166 -108 -200 -148 -174 Other private 15 91 -19 -12 -46 -71 -44 -39 -31 -14Private nonguaranteed -8 -26 -7 -134 16 -131 -148 -308 46 731 Bonds 0 0 0 -1 -11 0 0 0 0 0 Commercial banks and other -8 -26 -7 -133 27 -131 -148 -308 46 731Memo: IBRD -2 15 -56 -105 -125 -45 -50 -95 -15 -114 IDA 2 0 -1 -1 -1 -1 -1 -1 -1 -1

DEBT SERVICE (LTDS) 36 900 911 1,199 1,781 1,586 2,099 1,789 1,953 2,001Public and publicly guaranteed 22 559 874 1,065 1,717 1,454 1,438 1,099 1,276 1,298Official creditors 12 214 488 638 723 703 678 621 734 762 Multilateral 6 35 304 425 509 399 426 509 502 526 Concessional 1 2 16 37 40 34 33 33 34 39 Bilateral 6 179 184 212 214 304 252 112 232 236 Concessional 4 13 10 69 84 97 105 84 122 116Private creditors 11 346 385 428 994 752 760 478 542 536 Bonds 0 20 0 250 375 415 410 140 258 285 Commercial banks 3 294 159 99 532 266 296 300 252 228 Other private 7 31 226 78 87 71 54 39 31 23Private nonguaranteed 14 341 37 134 64 131 661 689 677 703 Bonds 0 0 0 1 11 0 0 0 0 0 Commercial banks and other 14 341 37 133 53 131 661 689 677 703Memo: IBRD 4 19 103 194 170 130 140 164 139 140 IDA 0 0 1 1 1 1 1 1 1 1

UNDISBURSED DEBT 142 1,039 1,646 2,118 1,903 1,886 1,208 975 708 881Official creditors 60 695 1,533 1,535 1,596 1,558 1,078 918 603 815Private creditors 82 345 113 583 307 328 130 57 105 66Memorandum items Concessional LDOD 85 290 920 1,868 1,785 1,934 2,046 2,030 1,935 1,967 Variable rate LDOD 49 2,766 6,245 6,755 6,875 7,033 8,666 4,453 4,864 5,772 Public sector LDOD 195 3,301 9,865 12,444 12,876 13,089 13,556 11,337 11,251 11,242 Private sector LDOD 49 1,122 164 320 340 210 1,571 1,435 1,656 2,586



187ECUADOR



Total amount rescheduled .. .. 249 29 62 0 0 4,837 15 0 Debt stock rescheduled .. .. 16 0 0 0 0 3,783 0 0 Principal rescheduled .. .. 152 0 0 0 0 624 3 0 Official .. .. 110 0 0 0 0 549 2 0 Private .. .. 42 0 0 0 0 74 1 0 Interest rescheduled .. .. 81 25 62 0 0 127 12 0 Official .. .. 61 0 0 0 0 121 12 0 Private .. .. 19 25 62 0 0 6 0 0Debt forgiven .. .. 1 1 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 45 1 200 0 0 2,522 0 0 of which debt buyback .. .. 0 0 85 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 791 502 923 222 617 -2,540 764 1,971 Net flows on debt 25 1,174 0 653 1,235 76 -1,048 -181 915 1,771 Net change in interest arrears .. .. 451 64 7 1 -2 -79 -1 -1 Interest capitalized .. .. 81 25 62 0 0 127 12 0 Debt forgiveness or reduction .. .. -46 -2 -115 0 0 -2,522 0 0 Cross-currency valuation .. .. 193 -286 -282 109 21 -173 -148 197 Residual .. .. 113 48 17 35 1,646 289 -14 3

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.2 10.7 6.4 5.7 9.3 7.0 6.9 7.0 5.6 4.7 Maturity (years) 20.0 14.9 17.4 11.0 10.7 14.4 21.9 16.6 10.7 13.1 Grace period (years) 3.9 3.8 4.2 3.3 5.3 3.9 4.8 5.0 2.7 3.1 Grant element (%) 24.0 -0.9 24.1 19.4 5.6 16.5 20.2 17.8 17.6 24.8Official creditors Interest (%) 4.3 8.6 5.2 4.4 6.8 7.0 6.9 6.9 6.0 4.8 Maturity (years) 35.8 22.1 22.2 26.0 17.6 15.9 21.9 17.1 11.8 13.1 Grace period (years) 8.0 4.4 6.0 7.7 4.9 4.1 4.8 5.2 3.5 3.1 Grant element (%) 48.8 11.4 35.1 42.7 20.4 17.5 20.2 18.3 18.3 24.4Private creditors Interest (%) 7.3 12.7 8.6 6.3 10.9 7.0 0.0 7.5 5.1 3.9 Maturity (years) 10.2 7.9 8.7 4.8 6.3 10.1 0.0 9.9 8.7 13.3 Grace period (years) 1.3 3.2 1.0 1.4 5.6 3.3 0.0 2.5 1.4 5.0 Grant element (%) 8.4 -12.7 4.0 9.8 -4.0 13.3 0.0 10.0 16.4 33.5Memorandum items Commitments 78 1,148 641 1,024 1,778 780 83 404 418 670 Official creditors 30 564 413 301 700 581 83 378 265 647 Private creditors 48 584 228 723 1,078 199 0 26 153 23


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 299 248 153 88 45 28 12 4 2 1Principal 1,297 1,392 1,133 916 891 674 537 510 470 1,700Interest 728 898 788 706 723 628 579 549 519 511Official creditors Disbursements 262 229 146 86 45 28 12 4 2 1Principal 576 557 593 577 543 462 421 377 377 356Interest 290 271 248 223 197 173 152 134 116 99 Bilateral creditors Disbursements 17 10 3 2 1 0 0 0 0 0 Principal 174 183 190 188 164 146 150 117 129 142 Interest 114 106 97 88 80 73 66 60 55 50 Multilateral creditors Disbursements 246 219 143 84 44 28 12 4 2 1 Principal 401 375 403 389 379 316 270 260 248 215 Interest 176 165 151 134 117 100 86 73 61 50Private creditors Disbursements 36 19 8 2 1 0 0 0 0 0Principal 721 834 541 339 348 212 116 133 93 1,344Interest 439 628 540 483 526 455 426 416 402 412 Commercial banks Disbursements 18 7 2 0 0 0 0 0 0 0 Principal 481 269 103 66 51 40 26 22 7 6 Interest 55 23 10 7 5 3 2 1 1 1 Other private Disbursements 19 13 6 2 1 0 0 0 0 0 Principal 240 565 437 273 298 172 90 111 86 1,339 Interest 384 605 530 476 521 451 424 414 402 411

188EGYPT, ARAB REPUBLIC OF


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 1,802 19,131 33,016 31,538 30,102 32,440 31,045 29,187 29,331 30,750Long-term debt (LDOD) 1,351 14,693 28,438 29,174 27,109 28,178 26,751 25,083 25,959 27,282Public and publicly guaranteed 1,351 14,428 27,438 29,047 26,979 27,794 26,270 24,510 25,341 26,624Private nonguaranteed 0 265 1,000 127 131 384 481 573 619 659Use of IMF credit 49 411 125 16 0 0 0 0 0 0Short-term debt 401 4,027 4,453 2,348 2,993 4,262 4,294 4,104 3,372 3,468of which interest arrears on LDOD 4 383 1,441 4 5 2 1 0 0 0 Official creditors 4 383 872 1 2 0 0 0 0 0 Private creditors 1 0 569 2 2 2 1 0 0 0Memo: principal arrears on LDOD 82 74 3,542 154 162 156 145 141 129 129 Official creditors 70 74 1,775 133 142 134 137 140 129 129 Private creditors 12 0 1,767 20 20 21 8 1 0 0Memo: export credits 0 0 14,578 9,119 7,656 7,779 6,672 6,398 5,662 6,478

TOTAL DEBT FLOWS Disbursements 188 2,743 1,951 683 896 749 585 586 1,915 498Long-term debt 170 2,680 1,951 683 896 749 585 586 1,915 498IMF purchases 18 63 0 0 0 0 0 0 0 0Principal repayments 234 446 1,751 1,112 959 964 1,207 1,100 1,113 1,241Long-term debt 225 343 1,704 1,026 943 964 1,207 1,100 1,113 1,241IMF repurchases 9 103 47 86 15 0 0 0 0 0Net flows on debt -46 2,465 -1,301 -453 581 1,056 -588 -702 71 -647of which short-term debt 0 168 -1,502 -24 644 1,271 34 -189 -732 96Interest payments (INT) 37 789 1,323 1,214 1,027 934 914 733 838 825Long-term debt 37 349 1,007 1,078 764 707 684 619 688 728IMF charges 0 18 14 3 0 0 0 0 0 0Short-term debt 0 422 301 133 262 227 231 113 150 97Net transfers on debt -82 1,676 -2,624 -1,667 -446 122 -1,503 -1,435 -767 -1,472Total debt service paid (TDS) 270 1,235 3,073 2,326 1,985 1,898 2,121 1,832 1,951 2,066Long-term debt 261 692 2,711 2,104 1,707 1,671 1,890 1,719 1,801 1,969IMF repurchases and charges 9 121 61 89 16 0 0 0 0 0Short-term debt (interest only) 0 422 301 133 262 227 231 113 150 97


NET RESOURCE FLOWS 100 3,051 5,183 1,516 2,386 2,075 1,864 1,955 2,006 342Net flow of long-term debt (ex. IMF) -54 2,337 247 -344 -47 -215 -622 -513 803 -743Foreign direct investment (net) 1 548 734 636 891 1,076 1,065 1,235 510 647Portfolio equity flows 0 0 0 0 515 -160 658 269 39 -212Grants (excluding technical coop.) 153 165 4,201 1,224 1,028 1,374 763 964 654 650Memo: technical coop. grants 14 156 812 635 573 474 771 472 733 783 official net resource flows 129 1,918 4,514 1,301 1,018 1,125 276 337 -58 -95 private net resource flows -29 1,133 668 215 1,368 950 1,589 1,619 2,064 437

NET TRANSFERS 63 2,687 4,162 404 1,509 1,234 1,081 1,244 1,289 -475Interest on long-term debt 37 349 1,007 1,078 764 707 684 619 688 728Profit remittances on FDI 0 15 14 34 113 134 100 92 28 89Memo: official net transfers 99 1,697 3,795 321 324 487 -354 -236 -633 -662 private net transfers -36 990 367 84 1,185 747 1,435 1,480 1,922 186


Gross national income (GNI) 7,618 21,453 42,025 68,190 76,839 83,300 90,095 100,360 99,547 89,949Exports of goods, serv. & inc. (XGS) .. 9,212 15,035 19,058 20,724 17,944 19,753 21,587 20,447 20,029Worker remit. & comp. of employees 0 2,696 4,284 3,107 3,697 3,370 3,235 2,852 2,911 2,893Imports of goods & services (MGS) .. 9,746 15,969 19,809 22,112 22,184 22,661 23,878 21,881 20,474International reserves (RES) 165 2,480 3,620 18,296 19,371 18,824 15,190 13,785 13,598 14,076Current account balance .. -436 2,327 -192 -711 -2,566 -1,635 -971 -388 622

4. DEBT INDICATORS




5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 1,351 14,693 28,438 29,174 27,109 28,178 26,751 25,083 25,959 27,282Public and publicly guaranteed 1,351 14,428 27,438 29,047 26,979 27,794 26,270 24,510 25,341 26,624Official creditors 1,189 12,623 21,190 27,690 25,903 26,920 25,712 23,970 23,354 24,653 Multilateral 22 2,625 3,427 4,008 3,966 4,267 4,111 3,942 3,695 3,871 Concessional 0 1,885 1,297 1,841 2,015 2,212 2,226 2,264 2,218 2,316 Bilateral 1,167 9,998 17,763 23,683 21,937 22,653 21,601 20,028 19,659 20,782 Concessional 864 6,231 11,224 22,268 20,654 21,339 20,397 18,940 17,876 18,858Private creditors 162 1,805 6,249 1,357 1,076 874 558 540 1,987 1,971 Bonds 0 132 0 0 0 0 0 0 1,500 1,500 Commercial banks 36 257 624 437 520 404 242 312 326 334 Other private 125 1,416 5,625 920 556 470 316 227 161 137Private nonguaranteed 0 265 1,000 127 131 384 481 573 619 659 Bonds 0 0 0 0 0 0 100 100 100 100 Commercial banks and other 0 265 1,000 127 131 384 381 473 519 559Memo: IBRD 22 420 1,480 1,075 869 846 761 639 550 542 IDA 0 307 921 1,090 1,206 1,268 1,273 1,266 1,242 1,316

DISBURSEMENTS 170 2,680 1,951 683 896 749 585 586 1,915 498Public and publicly guaranteed 170 2,554 1,900 683 819 470 242 379 1,754 323Official creditors 137 1,904 1,198 650 631 460 231 235 194 278 Multilateral 0 241 269 430 496 302 156 174 169 262 Concessional 0 53 56 210 255 214 111 104 66 82 Bilateral 137 1,663 929 219 135 157 75 61 25 16 Concessional 53 1,011 647 219 134 157 70 50 20 12Private creditors 33 650 703 33 188 10 10 144 1,560 46 Bonds 0 30 0 0 0 0 0 0 1,500 0 Commercial banks 0 8 170 17 187 9 9 132 60 46 Other private 33 612 532 16 1 1 1 12 0 0Private nonguaranteed 0 126 51 0 77 279 343 207 162 175 Bonds 0 0 0 0 0 0 100 0 0 0 Commercial banks and other 0 126 51 0 77 279 243 207 162 175Memo: IBRD 0 169 92 26 102 48 31 6 17 25 IDA 0 41 8 82 158 57 33 49 32 54

PRINCIPAL REPAYMENTS 225 343 1,704 1,026 943 964 1,207 1,100 1,113 1,241Public and publicly guaranteed 225 297 1,572 840 870 932 961 984 997 1,106Official creditors 162 151 885 572 641 709 719 863 906 1,023 Multilateral 6 18 282 299 355 295 291 299 297 338 Concessional 0 0 55 34 39 54 61 82 87 93 Bilateral 156 134 603 273 286 414 428 564 609 685 Concessional 92 119 214 190 250 380 400 497 539 603Private creditors 63 145 687 268 229 223 242 121 91 83 Bonds 0 4 1 0 0 0 0 0 0 0 Commercial banks 0 65 34 86 86 133 160 57 44 43 Other private 63 76 653 182 143 91 82 64 48 40Private nonguaranteed 0 46 132 186 73 32 246 116 116 136 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 46 132 186 73 32 246 116 116 136Memo: IBRD 6 6 176 178 225 114 106 87 72 72 IDA 0 0 7 15 16 17 20 23 29 34

NET FLOWS ON DEBT -54 2,337 247 -344 -47 -215 -622 -513 803 -743Public and publicly guaranteed -54 2,257 328 -158 -51 -462 -719 -604 757 -782Official creditors -24 1,753 313 77 -10 -249 -488 -628 -712 -745 Multilateral -6 224 -13 131 141 8 -135 -125 -128 -76 Concessional 0 53 1 176 216 160 50 22 -21 -11 Bilateral -19 1,529 326 -54 -151 -257 -352 -502 -584 -669 Concessional -39 892 432 29 -116 -223 -329 -448 -519 -591Private creditors -30 505 15 -235 -41 -213 -232 23 1,469 -37 Bonds 0 26 -1 0 0 0 0 0 1,500 0 Commercial banks 0 -58 137 -68 101 -123 -151 75 16 3 Other private -30 536 -121 -167 -142 -89 -81 -52 -48 -40Private nonguaranteed 0 80 -81 -186 4 247 97 91 46 40 Bonds 0 0 0 0 0 0 100 0 0 0 Commercial banks and other 0 80 -81 -186 4 247 -3 91 46 40Memo: IBRD -6 162 -84 -152 -123 -67 -74 -81 -55 -47 IDA 0 41 1 68 142 39 14 26 3 21



INTEREST PAYMENTS (LINT) 37 349 1,007 1,078 764 707 684 619 688 728Public and publicly guaranteed 37 327 918 1,066 757 700 675 603 671 712Official creditors 30 221 719 980 694 638 630 573 575 566 Multilateral 2 40 184 216 201 195 191 147 137 126 Concessional 0 7 14 27 29 33 35 34 34 34 Bilateral 28 181 535 764 493 443 439 425 437 440 Concessional 18 146 196 527 387 347 345 338 325 298Private creditors 7 106 199 85 63 62 46 31 96 146 Bonds 0 11 0 0 0 0 0 0 63 127 Commercial banks 0 36 45 32 25 35 24 16 23 13 Other private 7 59 153 53 38 28 21 15 10 6Private nonguaranteed 0 23 89 12 8 7 8 16 17 16 Bonds 0 0 0 0 0 0 0 12 12 12 Commercial banks and other 0 23 89 12 8 7 8 4 5 4Memo: IBRD 2 29 138 94 72 56 51 41 34 28 IDA 0 2 7 8 8 9 9 9 9 10

NET TRANSFERS ON DEBT -91 1,988 -760 -1,421 -812 -922 -1,306 -1,133 114 -1,471Public and publicly guaranteed -91 1,931 -589 -1,223 -808 -1,162 -1,395 -1,208 86 -1,494Official creditors -54 1,532 -406 -903 -704 -887 -1,117 -1,201 -1,287 -1,312 Multilateral -7 184 -197 -85 -59 -187 -326 -273 -265 -202 Concessional 0 46 -13 149 187 127 15 -12 -54 -45 Bilateral -47 1,348 -209 -818 -644 -700 -791 -928 -1,022 -1,109 Concessional -57 746 236 -497 -502 -570 -674 -785 -844 -889Private creditors -37 399 -183 -320 -104 -275 -277 -7 1,372 -183 Bonds 0 15 -1 0 0 0 0 0 1,437 -127 Commercial banks 0 -94 91 -101 76 -158 -175 59 -7 -10 Other private -37 478 -274 -220 -179 -117 -102 -67 -57 -46Private nonguaranteed 0 57 -170 -198 -4 241 89 75 28 24 Bonds 0 0 0 0 0 0 100 -12 -12 -12 Commercial banks and other 0 57 -170 -198 -4 241 -11 87 40 36Memo: IBRD -7 133 -222 -246 -194 -123 -126 -122 -89 -75 IDA 0 39 -6 60 134 30 4 17 -7 11

DEBT SERVICE (LTDS) 261 692 2,711 2,104 1,707 1,671 1,890 1,719 1,801 1,969Public and publicly guaranteed 261 623 2,490 1,906 1,627 1,632 1,636 1,587 1,668 1,818Official creditors 191 372 1,604 1,553 1,335 1,347 1,349 1,435 1,480 1,589 Multilateral 7 58 466 516 555 490 482 446 434 464 Concessional 0 7 69 61 68 87 96 117 120 128 Bilateral 184 315 1,138 1,037 779 857 867 989 1,046 1,125 Concessional 110 265 411 717 636 728 745 835 864 901Private creditors 70 251 886 353 292 286 288 152 188 228 Bonds 0 15 1 0 0 0 0 0 63 127 Commercial banks 0 101 79 118 112 167 184 73 67 56 Other private 70 135 806 235 180 118 104 79 57 46Private nonguaranteed 0 69 221 198 81 38 254 132 133 151 Bonds 0 0 0 0 0 0 0 12 12 12 Commercial banks and other 0 69 221 198 81 38 254 120 121 139Memo: IBRD 7 36 314 272 297 170 157 128 106 100 IDA 0 2 14 23 24 26 29 32 39 43

UNDISBURSED DEBT 315 4,999 4,573 2,560 2,072 1,763 1,430 1,808 1,619 1,621Official creditors 282 4,163 3,335 2,454 1,950 1,676 1,400 1,660 1,537 1,584Private creditors 33 837 1,237 106 122 87 30 148 82 37Memorandum items Concessional LDOD 864 8,115 12,521 24,110 22,669 23,550 22,623 21,204 20,094 21,174 Variable rate LDOD 0 663 4,399 1,278 1,375 1,545 1,461 1,542 1,579 1,799 Public sector LDOD 1,351 14,427 27,418 29,045 26,977 27,792 26,268 24,508 25,340 26,623 Private sector LDOD 0 266 1,021 129 132 386 483 574 620 660






Total amount rescheduled .. .. 0 192 156 53 96 22 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 131 95 44 85 13 3 1 Official .. .. 0 34 23 24 10 2 2 0 Private .. .. 0 96 72 21 75 11 1 1 Interest rescheduled .. .. 0 31 18 11 10 1 0 0 Official .. .. 0 6 3 2 1 0 0 0 Private .. .. 0 25 15 9 9 1 0 0Debt forgiven .. .. 10,576 35 27 17 1 25 0 0 Memo: interest forgiven .. .. 2,481 4 2 1 0 0 0 0Debt stock reduction .. .. 0 9 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -12,667 -1,961 -1,436 2,338 -1,395 -1,858 145 1,419 Net flows on debt -46 2,465 -1,301 -453 581 1,056 -588 -702 71 -647 Net change in interest arrears .. .. -1,938 -1 1 -2 -1 -1 0 0 Interest capitalized .. .. 0 31 18 11 10 1 0 0 Debt forgiveness or reduction .. .. -10,576 -44 -27 -17 -1 -25 0 0 Cross-currency valuation .. .. 1,460 -1,548 -2,027 1,065 -991 -899 -943 2,194 Residual .. .. -312 54 18 224 177 -232 1,016 -129

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 5.2 5.0 5.3 1.4 6.1 3.4 0.8 5.3 8.4 2.2 Maturity (years) 14.3 26.6 25.5 32.8 19.1 27.3 34.7 16.4 8.5 10.8 Grace period (years) 7.8 6.6 6.9 9.5 5.6 7.7 10.2 4.7 8.4 3.3 Grant element (%) 26.5 39.1 36.0 72.0 23.8 52.5 78.7 27.9 8.1 33.3Official creditors Interest (%) 5.2 3.3 4.7 1.4 5.1 3.4 0.8 4.7 0.8 2.2 Maturity (years) 14.9 36.4 28.2 32.8 24.4 27.3 34.7 21.8 49.8 10.8 Grace period (years) 8.2 8.9 7.6 9.5 7.1 7.7 10.2 5.5 10.3 3.3 Grant element (%) 27.5 56.9 41.8 72.0 36.0 52.5 78.7 36.0 83.2 33.3Private creditors Interest (%) 5.9 7.9 8.4 0.0 7.4 0.0 0.0 6.8 8.5 0.0 Maturity (years) 4.7 9.6 11.5 0.0 11.8 0.0 0.0 3.0 8.4 0.0 Grace period (years) 1.5 2.5 3.4 0.0 3.7 0.0 0.0 2.9 8.4 0.0 Grant element (%) 10.6 8.3 6.9 0.0 7.1 0.0 0.0 7.8 7.9 0.0Memorandum items Commitments 306 2,176 1,223 172 513 286 155 917 1,504 501 Official creditors 287 1,378 1,022 172 296 286 155 652 4 501 Private creditors 18 797 201 0 217 0 0 265 1,500 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 336 329 228 172 130 86 53 29 11 3Principal 1,932 1,816 1,412 1,889 1,428 1,483 1,483 1,501 2,514 1,554Interest 774 731 678 620 567 530 492 454 374 294Official creditors Disbursements 305 327 228 172 130 86 53 29 11 3Principal 1,275 1,451 1,380 1,379 1,421 1,475 1,476 1,494 1,507 1,548Interest 619 582 545 508 475 438 400 363 327 291 Bilateral creditors Disbursements 100 40 19 9 4 0 0 0 0 0 Principal 908 1,052 1,074 1,094 1,132 1,187 1,204 1,250 1,297 1,360 Interest 513 487 460 433 406 379 351 322 293 262 Multilateral creditors Disbursements 205 286 208 163 125 86 53 29 11 3 Principal 367 399 306 284 288 288 272 244 210 188 Interest 106 95 85 75 69 59 50 41 34 29Private creditors Disbursements 31 2 0 0 0 0 0 0 0 0Principal 657 366 32 510 8 7 7 7 1,007 7Interest 155 149 133 112 92 92 91 91 47 3 Commercial banks Disbursements 30 2 0 0 0 0 0 0 0 0 Principal 298 41 22 3 1 0 0 0 0 0 Interest 7 2 1 0 0 0 0 0 0 0 Other private Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 359 324 9 507 7 7 7 7 1,007 7 Interest 148 147 132 112 92 92 91 91 47 3

192EL SALVADOR


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 182 911 2,149 2,914 3,251 3,373 3,793 4,020 4,676 5,828Long-term debt (LDOD) 176 659 1,938 2,318 2,441 2,523 2,740 2,883 3,406 4,837Public and publicly guaranteed 88 499 1,913 2,317 2,396 2,442 2,647 2,772 3,250 4,712Private nonguaranteed 88 161 26 2 45 82 93 111 156 126Use of IMF credit 6 32 0 0 0 0 0 0 0 0Short-term debt 0 220 210 596 810 849 1,053 1,137 1,270 991of which interest arrears on LDOD 0 0 7 3 1 1 0 0 0 0 Official creditors 0 0 7 2 1 1 0 0 0 0 Private creditors 0 0 0 1 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 6 8 14 5 0 0 0 0 Official creditors 0 0 6 1 13 5 0 0 0 0 Private creditors 0 0 0 6 1 0 0 0 0 0Memo: export credits 0 0 236 313 427 132 125 95 107 102

TOTAL DEBT FLOWS Disbursements 31 149 108 474 333 325 388 362 730 1,565Long-term debt 31 109 108 474 333 325 388 362 730 1,565IMF purchases 0 40 0 0 0 0 0 0 0 0Principal repayments 27 35 124 178 127 287 167 153 168 190Long-term debt 22 35 119 178 127 287 167 153 168 190IMF repurchases 5 0 5 0 0 0 0 0 0 0Net flows on debt 4 56 2 368 422 77 426 294 694 1,097of which short-term debt 0 -58 18 71 216 39 204 85 132 -279Interest payments (INT) 9 61 84 138 152 159 175 221 216 264Long-term debt 9 35 75 105 110 111 122 147 160 221IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt 0 25 9 33 42 48 53 73 55 43Net transfers on debt -5 -5 -83 229 270 -82 251 73 479 833Total debt service paid (TDS) 36 96 208 316 279 446 341 374 384 453Long-term debt 31 71 194 283 237 398 288 300 329 410IMF repurchases and charges 5 0 5 0 0 0 0 0 0 0Short-term debt (interest only) 0 25 9 33 42 48 53 73 55 43


NET RESOURCE FLOWS 14 111 151 394 357 1,261 533 455 965 1,691Net flow of long-term debt (ex. IMF) 9 74 -11 297 206 38 222 209 562 1,376Foreign direct investment (net) 4 6 2 -5 59 1,104 216 173 250 208Portfolio equity flows 0 0 0 0 0 0 0 0 2 0Grants (excluding technical coop.) 1 31 160 102 92 119 95 72 150 107Memo: technical coop. grants 7 9 127 108 119 64 70 85 90 107 official net resource flows 5 104 143 377 251 186 148 128 306 271 private net resource flows 10 7 7 17 106 1,075 385 327 659 1,419

NET TRANSFERS 5 34 44 289 247 1,121 300 248 731 1,452Interest on long-term debt 9 35 75 105 110 111 122 147 160 221Profit remittances on FDI 0 41 31 0 0 29 111 60 73 18Memo: official net transfers 2 82 81 279 151 82 34 5 181 159 private net transfers 3 -48 -37 9 96 1,038 266 243 550 1,293


Gross national income (GNI) 1,123 3,490 4,727 10,273 10,971 11,845 12,183 12,881 13,538 13,997Exports of goods, serv. & inc. (XGS) .. 1,282 1,360 3,330 4,188 4,498 4,661 5,554 5,666 5,868Worker remit. & comp. of employees 0 49 366 1,084 1,200 1,338 1,386 1,764 1,924 1,953Imports of goods & services (MGS) .. 1,289 1,785 3,669 4,447 4,777 5,108 6,031 6,230 6,319International reserves (RES) 64 382 595 1,110 1,444 1,748 2,140 2,051 1,871 1,784Current account balance .. 34 -152 -169 -98 -91 -239 -431 -190 -384

4. DEBT INDICATORS


193EL SALVADOR


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 176 659 1,938 2,318 2,441 2,523 2,740 2,883 3,406 4,837Public and publicly guaranteed 88 499 1,913 2,317 2,396 2,442 2,647 2,772 3,250 4,712Official creditors 70 460 1,729 2,185 2,266 2,374 2,429 2,437 2,556 2,771 Multilateral 41 258 786 1,573 1,665 1,758 1,823 1,864 1,983 2,197 Concessional 10 134 414 648 656 646 632 608 583 563 Bilateral 30 202 943 612 601 616 606 574 572 574 Concessional 29 84 795 522 516 538 537 515 497 513Private creditors 17 39 184 132 130 67 218 335 694 1,941 Bonds 3 0 0 0 0 0 150 202 558 1,809 Commercial banks 14 8 127 82 83 19 26 102 109 99 Other private 0 31 57 50 47 49 41 30 28 33Private nonguaranteed 88 161 26 2 45 82 93 111 156 126 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 88 161 26 2 45 82 93 111 156 126Memo: IBRD 25 87 140 282 275 287 293 309 334 371 IDA 8 27 23 19 19 18 17 16 15 14

DISBURSEMENTS 31 109 108 474 333 325 388 362 730 1,565Public and publicly guaranteed 8 109 108 474 289 260 348 312 670 1,565Official creditors 6 81 77 381 267 254 182 171 300 311 Multilateral 5 36 44 317 231 236 163 151 246 299 Concessional 2 15 33 40 25 8 8 4 2 2 Bilateral 2 45 33 64 37 19 19 21 54 12 Concessional 2 19 18 64 35 18 19 21 26 11Private creditors 1 29 30 94 22 6 167 140 370 1,254 Bonds 0 0 0 0 0 0 150 52 356 1,252 Commercial banks 1 2 25 71 15 4 15 87 15 3 Other private 0 26 5 23 7 3 2 1 0 0Private nonguaranteed 24 0 0 0 44 65 40 50 60 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 24 0 0 0 44 65 40 50 60 0Memo: IBRD 1 10 2 21 35 34 23 34 49 63 IDA 0 3 0 0 0 0 0 0 0 0


NET FLOWS ON DEBT 9 74 -11 297 206 38 222 209 562 1,376Public and publicly guaranteed 2 92 3 300 163 1 210 191 517 1,406Official creditors 3 73 -17 275 159 66 53 55 156 164 Multilateral 2 31 -13 241 146 72 61 65 135 190 Concessional 2 14 23 26 10 -11 -17 -18 -23 -23 Bilateral 1 42 -4 34 13 -5 -8 -10 21 -26 Concessional 2 18 11 47 19 2 -1 1 4 -12Private creditors -2 19 19 25 4 -65 157 136 361 1,241 Bonds 0 0 0 0 0 0 150 52 356 1,252 Commercial banks -2 1 16 8 1 -65 8 84 6 -10 Other private 0 18 3 17 3 -1 -1 0 -1 0Private nonguaranteed 8 -18 -14 -3 43 37 12 18 45 -30 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 -18 -14 -3 43 37 12 18 45 -30Memo: IBRD -1 7 -13 -1 12 7 6 17 25 36 IDA 0 3 -1 -1 -1 -1 -1 -1 -1 -1

194EL SALVADOR



NET TRANSFERS ON DEBT 0 39 -86 191 96 -73 100 61 401 1,155Public and publicly guaranteed -2 68 -69 194 56 -105 94 51 363 1,193Official creditors 1 52 -79 177 59 -37 -61 -67 30 52 Multilateral 0 20 -62 167 67 -11 -31 -37 28 97 Concessional 2 12 14 15 -1 -22 -29 -29 -34 -34 Bilateral 1 32 -16 10 -8 -26 -29 -31 2 -45 Concessional 1 16 2 32 5 -12 -15 -13 -10 -25Private creditors -3 16 10 17 -3 -68 155 118 332 1,141 Bonds 0 0 0 0 0 0 150 35 336 1,161 Commercial banks -3 0 8 2 -4 -66 6 83 -3 -19 Other private 0 16 2 15 1 -2 -1 0 -1 -1Private nonguaranteed 2 -29 -17 -3 40 32 6 11 39 -38 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 -29 -17 -3 40 32 6 11 39 -38Memo: IBRD -2 0 -27 -22 -7 -13 -14 -7 2 17 IDA 0 3 -1 -1 -1 -1 -1 -1 -1 -1


UNDISBURSED DEBT 38 424 324 1,219 907 786 813 790 776 804Official creditors 38 390 322 1,188 887 766 788 776 771 801Private creditors 0 34 2 31 20 20 25 14 6 3Memorandum items Concessional LDOD 39 218 1,209 1,170 1,173 1,184 1,169 1,123 1,080 1,076 Variable rate LDOD 88 181 192 498 610 736 876 994 1,207 1,343 Public sector LDOD 88 496 1,905 2,310 2,390 2,436 2,642 2,767 3,245 4,707 Private sector LDOD 88 163 34 8 51 87 99 116 161 130



195EL SALVADOR




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 67 305 337 121 421 227 655 1,153 Net flows on debt 4 56 2 368 422 77 426 294 694 1,097 Net change in interest arrears .. .. -17 0 -2 0 -1 0 0 0 Interest capitalized .. .. 43 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 -1 -17 0 0 Cross-currency valuation .. .. 7 -68 -149 -48 28 -41 -39 53 Residual .. .. 31 5 65 93 -32 -8 0 3

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.7 4.2 4.6 7.1 7.0 7.0 7.3 8.2 7.9 7.5 Maturity (years) 23.4 27.6 29.8 20.7 16.9 21.9 16.1 15.2 15.4 20.6 Grace period (years) 6.0 8.4 7.2 5.0 3.7 3.8 5.7 3.8 6.1 17.6 Grant element (%) 37.6 45.8 45.5 18.1 17.1 18.0 17.4 10.4 11.7 17.2Official creditors Interest (%) 4.4 3.3 3.2 7.1 7.0 7.1 5.9 7.1 7.3 5.2 Maturity (years) 25.0 28.4 35.6 22.1 17.6 22.5 22.8 19.9 21.8 17.3 Grace period (years) 6.5 8.9 8.8 5.1 3.9 3.9 5.2 4.5 1.8 3.6 Grant element (%) 40.7 53.5 56.6 18.7 17.7 18.4 27.2 18.0 16.3 28.6Private creditors Interest (%) 7.5 11.7 10.4 7.2 7.0 6.6 9.0 9.7 8.5 8.1 Maturity (years) 7.2 20.7 5.0 4.9 7.0 4.9 7.6 8.8 9.9 21.4 Grace period (years) 0.7 4.3 0.5 3.8 1.1 0.9 6.3 3.0 9.8 21.4 Grant element (%) 6.9 -17.3 -1.4 11.1 8.7 7.7 4.9 0.2 7.9 14.0Memorandum items Commitments 12 225 131 701 195 156 394 307 668 1,600 Official creditors 11 200 106 645 181 150 222 177 306 349 Private creditors 1 25 25 56 14 6 172 130 362 1,252


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


196EQUATORIAL GUINEA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 0.0 37.6 9.9 2.0 2.6 1.1 3.8 1.7 0.3 2.0Long-term debt 0.0 19.6 9.9 2.0 2.6 1.1 3.8 1.7 0.3 2.0IMF purchases 0.0 18.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 0.0 1.7 4.2 3.3 4.1 3.7 3.5 4.1 3.6 2.5Long-term debt 0.0 1.7 0.6 2.2 1.1 0.8 1.0 1.4 1.0 1.3IMF repurchases 0.0 0.0 3.6 1.1 3.0 2.9 2.5 2.7 2.6 1.2Net flows on debt 0.0 40.9 9.7 0.1 19.0 12.4 -20.7 -12.3 -2.2 1.1of which short-term debt 0.0 5.0 4.0 1.5 20.6 15.0 -21.0 -10.0 1.1 1.6Interest payments (INT) 0.0 0.8 0.9 1.3 1.8 2.3 1.5 1.2 1.0 1.1Long-term debt 0.0 0.1 0.5 1.0 1.0 0.7 0.7 0.8 0.6 0.7IMF charges 0.0 0.2 0.2 0.1 0.1 0.1 0.0 0.0 0.0 0.0Short-term debt 0.0 0.6 0.2 0.2 0.7 1.6 0.8 0.4 0.4 0.4Net transfers on debt 0.0 40.0 8.8 -1.3 17.2 10.1 -22.2 -13.5 -3.2 -0.1Total debt service paid (TDS) 0.0 2.6 5.1 4.7 5.9 6.0 5.0 5.3 4.6 3.6Long-term debt 0.0 1.8 1.1 3.3 2.1 1.5 1.7 2.2 1.6 2.0IMF repurchases and charges 0.0 0.2 3.8 1.2 3.1 2.9 2.5 2.7 2.6 1.2Short-term debt (interest only) 0.0 0.6 0.2 0.2 0.7 1.6 0.8 0.4 0.4 0.4


NET RESOURCE FLOWS 0.0 19.2 63.9 394.3 68.0 304.7 266.0 126.1 959.7 336.5Net flow of long-term debt (ex. IMF) 0.0 17.8 9.4 -0.3 1.4 0.3 2.8 0.3 -0.7 0.7Foreign direct investment (net) 0.0 0.0 11.1 376.2 53.5 291.5 251.9 107.9 945.0 323.4Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 0.0 1.4 43.5 18.4 13.1 12.9 11.3 17.9 15.4 12.5Memo: technical coop. grants 0.0 2.0 12.9 11.0 12.4 13.2 10.1 7.9 4.9 9.8 official net resource flows 0.0 14.8 52.8 18.1 14.5 13.2 14.1 18.2 14.7 13.1 private net resource flows 0.0 4.5 11.1 376.2 53.5 291.5 251.9 107.9 945.0 323.4

NET TRANSFERS 0.0 19.1 62.4 321.3 8.0 257.1 185.3 -224.7 589.1 -114.2Interest on long-term debt 0.0 0.1 0.5 1.0 1.0 0.7 0.7 0.8 0.6 0.7Profit remittances on FDI 0.0 0.0 1.0 72.0 59.0 47.0 80.0 350.0 370.0 450.0Memo: official net transfers 0.0 14.7 52.3 17.1 13.5 12.6 13.4 17.4 14.1 12.4 private net transfers 0.0 4.4 10.1 304.2 -5.5 244.5 171.9 -242.1 575.0 -126.6


Gross national income (GNI) 66.9 .. 123.5 203.8 415.8 404.9 416.6 448.0 454.3 ..Exports of goods, serv. & inc. (XGS) .. .. 42.3 180.4 .. .. .. .. .. ..Worker remit. & comp. of employees 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. .. 99.2 521.8 .. .. .. .. .. ..International reserves (RES) .. .. 0.7 0.5 4.9 0.8 3.4 23.0 70.9 88.5Current account balance .. .. -19.0 -344.0 .. .. .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. 569.6 156.6 .. .. .. .. .. ..EDT / GNI (%) 7.5 .. 195.2 138.6 68.1 75.6 65.1 55.3 52.6 ..TDS / XGS (%) .. .. 12.1 2.6 .. .. .. .. .. ..INT / XGS (%) .. .. 2.2 0.7 .. .. .. .. .. ..INT / GNI (%) .. .. 0.8 0.7 0.4 0.6 0.4 0.3 0.2 ..RES / EDT (%) .. .. 0.3 0.2 1.7 0.3 1.2 9.3 29.7 34.0RES / MGS (months) .. .. 0.1 0.0 .. .. .. .. .. ..Short-term / EDT (%) .. 9.3 10.8 15.3 21.7 25.7 20.4 17.8 18.7 19.2Concessional / EDT (%) .. 41.7 49.0 51.4 49.0 47.1 52.5 55.3 55.3 55.0Multilateral / EDT (%) .. 3.6 27.9 35.0 33.1 32.0 36.2 37.8 37.3 37.5



5. LONG-TERM DEBT




NET FLOWS ON DEBT 0.0 17.8 9.4 -0.3 1.4 0.3 2.8 0.3 -0.7 0.7Public and publicly guaranteed 0.0 17.8 9.4 -0.3 1.4 0.3 2.8 0.3 -0.7 0.7Official creditors 0.0 13.4 9.4 -0.3 1.4 0.3 2.8 0.3 -0.7 0.7 Multilateral 0.0 1.7 3.2 -0.3 1.4 0.3 2.8 0.7 -0.7 0.7 Concessional 0.0 1.0 2.6 1.3 1.9 0.6 3.2 1.1 -0.3 1.0 Bilateral 0.0 11.7 6.2 0.0 0.0 0.0 0.0 -0.4 0.0 0.0 Concessional 0.0 3.3 6.3 0.0 0.0 0.0 0.0 -0.4 0.0 0.0Private creditors 0.0 4.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 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 0.0 0.0 Other private 0.0 4.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 2.0 0.8 0.8 -0.1 -0.3 -0.4 -0.5 -0.5




NET TRANSFERS ON DEBT 0.0 17.8 8.9 -1.3 0.4 -0.4 2.1 -0.5 -1.3 0.0Public and publicly guaranteed 0.0 17.8 8.9 -1.3 0.4 -0.4 2.1 -0.5 -1.3 0.0Official creditors 0.0 13.3 8.9 -1.3 0.4 -0.4 2.1 -0.5 -1.3 0.0 Multilateral 0.0 1.7 2.9 -1.3 0.4 -0.4 2.1 -0.1 -1.3 0.0 Concessional 0.0 1.0 2.3 0.5 1.2 0.1 2.6 0.5 -0.8 0.4 Bilateral 0.0 11.6 6.0 0.0 0.0 0.0 0.0 -0.4 0.0 0.0 Concessional 0.0 3.2 6.1 0.0 0.0 0.0 0.0 -0.4 0.0 0.0Private creditors 0.0 4.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 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 0.0 0.0 Other private 0.0 4.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.0 1.8 0.4 0.4 -0.4 -0.7 -0.8 -0.8 -0.9









8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 12.0 -9.4 0.7 22.9 -35.0 -23.3 -8.9 21.5 Net flows on debt 0.0 40.9 9.7 0.1 19.0 12.4 -20.7 -12.3 -2.2 1.1 Net change in interest arrears .. .. 7.2 -1.7 -2.2 2.4 -2.6 -1.2 -0.5 3.9 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -18.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 15.4 -7.7 -14.9 5.0 -10.8 -7.9 -5.6 13.2 Residual .. .. -1.9 0.0 -1.1 3.2 -0.9 -1.9 -0.6 3.3



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


200ERITREA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 44.3 75.5 151.3 252.7 311.1 413.9 527.6Long-term debt (LDOD) .. .. .. 44.3 75.5 146.1 252.6 298.0 394.8 496.4Public and publicly guaranteed .. .. .. 44.3 75.5 146.1 252.6 298.0 394.8 496.4Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Use of IMF credit .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. .. .. 0.0 0.0 5.2 0.2 13.1 19.1 31.1of which interest arrears on LDOD .. .. .. 0.0 0.0 0.0 0.0 2.0 0.9 0.9 Official creditors .. .. .. 0.0 0.0 0.0 0.0 2.0 0.9 0.9 Private creditors .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: principal arrears on LDOD .. .. .. 0.0 0.0 0.0 0.0 4.9 3.2 7.0 Official creditors .. .. .. 0.0 0.0 0.0 0.0 4.9 3.2 7.0 Private creditors .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: export credits .. .. .. 0.8 0.2 0.2 0.2 1.1 0.2 0.2

TOTAL DEBT FLOWS Disbursements .. .. .. 6.9 33.3 67.3 108.2 50.7 103.9 83.9Long-term debt .. .. .. 6.9 33.3 67.3 108.2 50.7 103.9 83.9IMF purchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments .. .. .. 0.0 0.0 0.0 0.0 0.5 0.7 2.6Long-term debt .. .. .. 0.0 0.0 0.0 0.0 0.5 0.7 2.6IMF repurchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt .. .. .. 6.9 33.3 67.3 103.2 61.2 110.3 93.3of which short-term debt .. .. .. 0.0 0.0 0.0 -5.0 11.0 7.0 12.0Interest payments (INT) .. .. .. 0.0 0.5 3.7 3.3 2.8 6.1 6.6Long-term debt .. .. .. 0.0 0.5 3.6 3.3 2.5 5.4 6.1IMF charges .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. .. .. 0.0 0.0 0.1 0.0 0.3 0.7 0.4Net transfers on debt .. .. .. 6.9 32.8 63.6 99.9 58.4 104.2 86.7Total debt service paid (TDS) .. .. .. 0.0 0.5 3.7 3.3 3.3 6.8 9.2Long-term debt .. .. .. 0.0 0.5 3.6 3.3 3.0 6.1 8.7IMF repurchases and charges .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) .. .. .. 0.0 0.0 0.1 0.0 0.3 0.7 0.4


NET RESOURCE FLOWS .. .. .. 135.9 134.5 289.7 255.7 182.5 251.3 208.4Net flow of long-term debt (ex. IMF) .. .. .. 6.9 33.3 67.3 108.2 50.2 103.3 81.3Foreign direct investment (net) .. .. .. 36.7 41.1 148.5 83.2 27.9 0.7 21.0Portfolio equity flows .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. .. .. 92.3 60.1 73.9 64.3 104.3 147.3 106.1Memo: technical coop. grants .. .. .. 62.3 36.9 31.0 21.2 22.3 31.9 32.4 official net resource flows .. .. .. 99.2 93.4 141.2 172.5 154.6 250.6 187.4 private net resource flows .. .. .. 36.7 41.1 148.5 83.2 27.9 0.7 21.0

NET TRANSFERS .. .. .. 135.9 134.0 285.7 251.6 175.6 239.9 196.1Interest on long-term debt .. .. .. 0.0 0.5 3.6 3.3 2.5 5.4 6.1Profit remittances on FDI .. .. .. 0.0 0.0 0.4 0.8 4.4 6.0 6.2Memo: official net transfers .. .. .. 99.2 92.9 137.6 169.2 152.1 245.2 181.3 private net transfers .. .. .. 36.7 41.1 148.1 82.4 23.5 -5.3 14.8


Gross national income (GNI) .. .. .. 830.0 909.5 870.1 855.1 740.7 797.9 749.8Exports of goods, serv. & inc. (XGS) .. .. .. .. .. 121.4 76.7 106.9 157.0 195.3Worker remit. & comp. of employees .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. .. .. .. .. 702.6 616.9 510.3 583.5 564.6International reserves (RES) .. .. .. 81.3 229.6 68.2 58.9 36.1 50.4 30.3Current account balance .. .. .. -59.8 5.1 -292.7 -208.8 -104.7 -155.8 -117.7

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. .. .. 124.6 329.5 291.1 263.6 270.2EDT / GNI (%) .. .. .. 5.3 8.3 17.4 29.6 42.0 51.9 70.4TDS / XGS (%) .. .. .. .. .. 3.0 4.3 3.1 4.3 4.7INT / XGS (%) .. .. .. .. .. 3.0 4.3 2.6 3.9 3.4INT / GNI (%) .. .. .. .. 0.1 0.4 0.4 0.4 0.8 0.9RES / EDT (%) .. .. .. 183.6 304.3 45.0 23.3 11.6 12.2 5.7RES / MGS (months) .. .. .. .. .. 1.2 1.1 0.8 1.0 0.6Short-term / EDT (%) .. .. .. 0.0 0.0 3.4 0.1 4.2 4.6 5.9Concessional / EDT (%) .. .. .. 95.6 96.1 92.2 93.4 90.5 91.6 91.0Multilateral / EDT (%) .. .. .. 66.6 55.5 50.3 46.6 48.8 56.9 60.6

201ERITREA


5. LONG-TERM DEBT




NET FLOWS ON DEBT .. .. .. 6.9 33.3 67.3 108.2 50.2 103.3 81.3Public and publicly guaranteed .. .. .. 6.9 33.3 67.3 108.2 50.2 103.3 81.3Official creditors .. .. .. 6.9 33.3 67.3 108.2 50.2 103.3 81.3 Multilateral .. .. .. 4.5 14.2 31.3 43.1 38.7 89.6 65.7 Concessional .. .. .. 2.5 12.9 29.9 40.0 38.1 90.1 66.2 Bilateral .. .. .. 2.4 19.1 36.0 65.1 11.5 13.7 15.6 Concessional .. .. .. 2.4 19.1 34.0 57.5 11.5 13.7 15.6Private creditors .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 1.5 3.8 6.3 19.5 31.6 78.2 46.2

202ERITREA



NET TRANSFERS ON DEBT .. .. .. 6.9 32.8 63.7 105.0 47.8 97.9 75.1Public and publicly guaranteed .. .. .. 6.9 32.8 63.7 105.0 47.8 97.9 75.1Official creditors .. .. .. 6.9 32.8 63.7 105.0 47.8 97.9 75.1 Multilateral .. .. .. 4.5 13.9 30.7 41.5 37.4 86.7 62.2 Concessional .. .. .. 2.5 12.7 29.4 38.5 37.0 87.4 62.8 Bilateral .. .. .. 2.4 18.9 33.0 63.4 10.4 11.1 13.0 Concessional .. .. .. 2.4 18.9 31.0 56.0 10.4 11.1 13.0Private creditors .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 1.5 3.6 6.1 19.2 31.2 77.3 44.9





203ERITREA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0.0 7.6 31.2 75.9 101.4 58.4 102.8 113.7 Net flows on debt .. .. .. 6.9 33.3 67.3 103.2 61.2 110.3 93.3 Net change in interest arrears .. .. 0.0 0.0 0.0 0.0 0.0 2.0 -1.1 0.0 Interest capitalized .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 0.0 -4.7 -2.1 2.4 -1.5 -4.2 -5.6 17.3 Residual .. .. 0.0 5.3 -0.1 1.0 -0.3 -0.6 -0.8 3.0



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


204ESTONIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 1,534 2,264 2,583 2,491 2,569 2,852 4,741Long-term debt (LDOD) .. .. .. 337 1,238 1,587 1,612 1,606 1,810 3,151Public and publicly guaranteed .. .. .. 217 198 234 206 210 187 482Private nonguaranteed .. .. .. 120 1,040 1,352 1,407 1,395 1,623 2,669Use of IMF credit .. .. .. 78 54 30 25 19 13 0Short-term debt .. .. .. 1,119 973 966 853 944 1,029 1,590of which interest arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: export credits .. .. .. 83 86 58 52 34 31 31

TOTAL DEBT FLOWS Disbursements .. .. .. 217 955 439 474 324 284 1,811Long-term debt .. .. .. 217 955 439 474 324 284 1,811IMF purchases .. .. .. 0 0 0 0 0 0 0Principal repayments .. .. .. 24 58 188 392 305 247 586Long-term debt .. .. .. 13 38 163 388 300 242 572IMF repurchases .. .. .. 11 19 25 4 5 5 14Net flows on debt .. .. .. 1,282 750 244 -31 110 122 1,785of which short-term debt .. .. .. 1,089 -147 -6 -113 91 85 561Interest payments (INT) .. .. .. 72 125 140 135 123 136 197Long-term debt .. .. .. 17 72 89 88 77 93 157IMF charges .. .. .. 4 3 2 1 1 1 0Short-term debt .. .. .. 50 50 48 45 45 42 40Net transfers on debt .. .. .. 1,210 625 105 -166 -13 -14 1,588Total debt service paid (TDS) .. .. .. 96 183 328 526 428 383 783Long-term debt .. .. .. 30 110 252 476 377 335 729IMF repurchases and charges .. .. .. 15 23 28 5 6 6 14Short-term debt (interest only) .. .. .. 50 50 48 45 45 42 40


NET RESOURCE FLOWS .. .. .. 562 1,358 946 675 433 662 1,572Net flow of long-term debt (ex. IMF) .. .. .. 203 916 276 86 24 42 1,238Foreign direct investment (net) .. .. .. 150 266 581 305 387 543 285Portfolio equity flows .. .. .. 172 128 26 235 -29 32 0Grants (excluding technical coop.) .. .. .. 36 47 64 49 50 45 49Memo: technical coop. grants .. .. .. 23 20 19 12 12 10 9 official net resource flows .. .. .. 87 54 73 62 29 34 -14 private net resource flows .. .. .. 474 1,304 873 613 404 628 1,586

NET TRANSFERS .. .. .. 506 1,159 778 468 151 258 1,028Interest on long-term debt .. .. .. 17 72 89 88 77 93 157Profit remittances on FDI .. .. .. 38 127 80 119 205 311 387Memo: official net transfers .. .. .. 79 45 64 53 21 26 -21 private net transfers .. .. .. 427 1,113 714 415 130 231 1,049


Gross national income (GNI) .. .. .. 4,359 4,469 5,146 5,092 4,941 5,319 6,177Exports of goods, serv. & inc. (XGS) .. .. .. 3,033 3,723 4,303 4,077 4,928 5,184 5,708Worker remit. & comp. of employees .. .. .. 2 2 3 2 3 9 17Imports of goods & services (MGS) .. .. .. 3,532 4,401 4,930 4,484 5,338 5,671 6,649International reserves (RES) .. .. .. 640 760 813 856 923 822 1,003Current account balance .. .. .. -398 -562 -478 -295 -294 -339 -802

4. DEBT INDICATORS


205ESTONIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 337 1,238 1,587 1,612 1,606 1,810 3,151Public and publicly guaranteed .. .. .. 217 198 234 206 210 187 482Official creditors .. .. .. 162 160 174 168 136 120 71 Multilateral .. .. .. 127 123 137 134 105 91 66 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 35 37 36 34 31 28 4 Concessional .. .. .. 32 32 30 28 26 23 0Private creditors .. .. .. 54 38 61 37 74 67 411 Bonds .. .. .. 39 33 54 33 31 29 350 Commercial banks .. .. .. 0 0 0 0 41 37 61 Other private .. .. .. 16 4 7 4 2 1 0Private nonguaranteed .. .. .. 120 1,040 1,352 1,407 1,395 1,623 2,669 Bonds .. .. .. 0 81 87 130 232 291 245 Commercial banks and other .. .. .. 120 959 1,266 1,277 1,164 1,332 2,424Memo: IBRD .. .. .. 62 71 84 88 71 65 39 IDA .. .. .. 0 0 0 0 0 0 0

DISBURSEMENTS .. .. .. 217 955 439 474 324 284 1,811Public and publicly guaranteed .. .. .. 100 18 45 47 45 13 316Official creditors .. .. .. 59 16 24 28 4 7 8 Multilateral .. .. .. 54 14 23 28 4 7 8 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 5 2 1 0 0 0 0 Concessional .. .. .. 3 0 0 0 0 0 0Private creditors .. .. .. 42 2 21 19 40 6 308 Bonds .. .. .. 40 0 17 19 0 0 283 Commercial banks .. .. .. 0 0 0 0 40 6 24 Other private .. .. .. 2 2 4 0 0 0 0Private nonguaranteed .. .. .. 116 937 394 427 280 271 1,495 Bonds .. .. .. 0 81 0 58 139 62 0 Commercial banks and other .. .. .. 116 856 394 368 141 209 1,495Memo: IBRD .. .. .. 16 11 13 19 4 6 5 IDA .. .. .. 0 0 0 0 0 0 0


NET FLOWS ON DEBT .. .. .. 203 916 276 86 24 42 1,238Public and publicly guaranteed .. .. .. 89 -4 28 -2 18 -15 235Official creditors .. .. .. 52 7 9 14 -21 -12 -63 Multilateral .. .. .. 49 5 10 16 -18 -9 -39 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 3 2 -1 -2 -3 -3 -25 Concessional .. .. .. 3 0 -2 -2 -2 -2 -24Private creditors .. .. .. 37 -11 19 -16 39 -3 298 Bonds .. .. .. 40 0 17 -14 0 0 283 Commercial banks .. .. .. -2 0 0 0 40 -2 16 Other private .. .. .. -1 -11 2 -2 -1 -1 -1Private nonguaranteed .. .. .. 114 920 248 88 6 57 1,003 Bonds .. .. .. 0 81 0 58 110 62 -65 Commercial banks and other .. .. .. 114 839 248 30 -104 -5 1,068Memo: IBRD .. .. .. 16 11 10 16 -9 -3 -35 IDA .. .. .. 0 0 0 0 0 0 0

206ESTONIA



NET TRANSFERS ON DEBT .. .. .. 186 845 187 -2 -53 -51 1,082Public and publicly guaranteed .. .. .. 79 -16 16 -14 7 -26 219Official creditors .. .. .. 43 -2 0 4 -29 -19 -70 Multilateral .. .. .. 41 -2 2 8 -25 -15 -44 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2 0 -2 -4 -4 -4 -26 Concessional .. .. .. 3 -1 -3 -3 -3 -3 -25Private creditors .. .. .. 36 -14 17 -18 36 -7 289 Bonds .. .. .. 40 -2 15 -15 -2 -2 276 Commercial banks .. .. .. -2 0 0 0 40 -4 14 Other private .. .. .. -2 -12 2 -3 -2 -1 -1Private nonguaranteed .. .. .. 107 860 171 12 -60 -25 863 Bonds .. .. .. 0 81 -6 53 101 45 -80 Commercial banks and other .. .. .. 107 780 177 -41 -161 -71 943Memo: IBRD .. .. .. 13 7 6 11 -14 -7 -39 IDA .. .. .. 0 0 0 0 0 0 0


UNDISBURSED DEBT .. .. .. 113 75 53 56 79 102 85Official creditors .. .. .. 105 71 52 28 49 40 38Private creditors .. .. .. 8 5 1 27 30 62 47Memorandum items Concessional LDOD .. .. .. 32 32 30 28 26 23 0 Variable rate LDOD .. .. .. 242 1,161 1,500 1,563 1,564 1,771 2,802 Public sector LDOD .. .. .. 217 198 234 206 174 160 459 Private sector LDOD .. .. .. 120 1,040 1,352 1,407 1,432 1,650 2,692



207ESTONIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 1,247 731 319 -93 78 283 1,889 Net flows on debt .. .. .. 1,282 750 244 -31 110 122 1,785 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 0 -11 -20 12 -26 -8 -7 29 Residual .. .. 0 -24 1 62 -36 -23 168 74



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 36 24 12 8 3 1 1 0 0 0Principal 1,077 835 782 32 156 22 237 18 18 19Interest 126 103 77 25 25 19 18 5 4 4Official creditors Disbursements 10 11 8 4 3 1 1 0 0 0Principal 9 9 10 11 12 12 11 8 6 6Interest 3 3 3 2 2 2 1 1 1 1 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 1 1 1 1 1 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 Multilateral creditors Disbursements 10 11 8 4 3 1 1 0 0 0 Principal 8 8 9 11 11 11 11 8 6 6 Interest 2 2 2 2 2 2 1 1 1 1Private creditors Disbursements 26 13 4 3 0 0 0 0 0 0Principal 1,068 826 772 20 144 10 226 10 12 14Interest 123 101 74 23 23 17 17 4 3 3 Commercial banks Disbursements 26 13 4 3 0 0 0 0 0 0 Principal 10 10 6 6 9 9 9 9 8 8 Interest 3 3 2 2 2 2 2 1 1 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,058 816 766 15 135 1 216 1 4 6 Interest 121 98 72 21 21 15 15 3 2 2

208ETHIOPIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 169 824 8,630 10,078 10,077 10,347 5,544 5,483 5,697 6,522Long-term debt (LDOD) 169 688 8,479 9,484 9,425 9,614 5,362 5,327 5,531 6,313Public and publicly guaranteed 169 688 8,479 9,484 9,425 9,614 5,362 5,327 5,531 6,313Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 79 6 92 87 107 95 77 106 143Short-term debt 0 57 145 502 566 626 87 79 60 66of which interest arrears on LDOD 0 1 43 481 542 603 62 65 48 48 Official creditors 0 0 39 459 524 584 57 59 42 42 Private creditors 0 0 3 21 18 19 5 6 5 5Memo: principal arrears on LDOD 0 1 236 4,302 4,758 5,195 638 651 597 596 Official creditors 0 0 196 4,103 4,532 4,964 581 609 551 561 Private creditors 0 1 40 200 227 231 57 43 45 35Memo: export credits 0 0 311 300 248 210 217 197 175 211

TOTAL DEBT FLOWS Disbursements 28 119 374 315 179 162 231 185 576 642Long-term debt 28 110 374 294 179 142 231 185 532 597IMF purchases 0 9 0 21 0 20 0 0 44 44Principal repayments 15 17 177 292 52 68 98 84 120 65Long-term debt 15 17 152 292 52 64 88 71 108 54IMF repurchases 0 0 25 0 0 4 10 13 12 11Net flows on debt 13 94 203 21 130 93 134 90 454 583of which short-term debt 0 -8 7 -2 3 -1 2 -11 -2 6Interest payments (INT) 6 27 59 55 47 50 57 53 63 43Long-term debt 6 17 48 54 46 48 55 52 61 42IMF charges 0 2 2 0 0 1 0 0 0 1Short-term debt 0 9 8 1 1 1 2 1 1 1Net transfers on debt 6 67 145 -34 82 43 77 37 392 540Total debt service paid (TDS) 21 45 236 347 99 119 155 137 182 108Long-term debt 21 34 201 346 98 113 144 123 169 96IMF repurchases and charges 0 2 27 0 0 4 10 13 12 12Short-term debt (interest only) 0 9 8 1 1 1 2 1 1 1


NET RESOURCE FLOWS 23 218 838 416 773 768 569 674 856 1,080Net flow of long-term debt (ex. IMF) 13 93 222 1 127 77 142 114 424 544Foreign direct investment (net) 4 1 12 22 289 261 70 135 20 75Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 6 124 604 393 357 430 357 425 413 461Memo: technical coop. grants 20 44 250 200 151 119 109 127 141 175 official net resource flows 26 191 882 604 462 506 511 547 847 1,009 private net resource flows -3 27 -45 -188 311 263 58 127 10 71

NET TRANSFERS 16 202 789 361 720 714 512 613 783 1,026Interest on long-term debt 6 17 48 54 46 48 55 52 61 42Profit remittances on FDI 0 0 0 2 7 7 2 9 12 12Memo: official net transfers 21 177 858 565 420 461 461 500 788 968 private net transfers -4 25 -69 -204 300 253 51 113 -5 58


Gross national income (GNI) .. .. 8,546 6,461 6,910 6,998 7,022 6,468 6,459 6,008Exports of goods, serv. & inc. (XGS) .. 573 606 846 1,012 1,000 991 1,062 1,013 1,113Worker remit. & comp. of employees 0 12 5 16 9 27 34 53 18 33Imports of goods & services (MGS) .. 871 1,349 1,428 1,461 1,880 1,904 1,674 2,200 2,075International reserves (RES) 72 262 55 843 588 598 547 363 490 966Current account balance .. -226 -294 80 -40 -333 -465 15 -454 -150

4. DEBT INDICATORS

EDT / XGS (%) .. 143.8 1,424.6 1,191.3 995.3 1,034.5 559.2 516.5 562.3 586.1EDT / GNI (%) .. .. 101.0 156.0 145.8 147.9 78.9 84.8 88.2 108.6TDS / XGS (%) .. 7.8 39.0 41.1 9.8 11.8 15.7 12.9 18.0 9.7INT / XGS (%) .. 4.8 9.7 6.5 4.7 5.0 5.8 5.0 6.2 3.9INT / GNI (%) .. .. 0.7 0.9 0.7 0.7 0.8 0.8 1.0 0.7RES / EDT (%) 42.4 31.8 0.6 8.4 5.8 5.8 9.9 6.6 8.6 14.8RES / MGS (months) .. 3.6 0.5 7.1 4.8 3.8 3.4 2.6 2.7 5.6Short-term / EDT (%) 0.2 6.9 1.7 5.0 5.6 6.1 1.6 1.4 1.0 1.0Concessional / EDT (%) 54.7 68.3 87.3 86.3 85.7 85.1 86.5 87.7 88.8 89.2Multilateral / EDT (%) 41.4 41.2 14.7 24.7 24.4 25.4 49.4 50.0 54.4 59.3

209ETHIOPIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 169 688 8,479 9,484 9,425 9,614 5,362 5,327 5,531 6,313Public and publicly guaranteed 169 688 8,479 9,484 9,425 9,614 5,362 5,327 5,531 6,313Official creditors 140 638 7,902 9,130 9,074 9,266 5,235 5,210 5,432 6,215 Multilateral 70 340 1,268 2,484 2,458 2,627 2,738 2,741 3,099 3,868 Concessional 23 282 1,151 2,275 2,231 2,389 2,509 2,547 2,925 3,675 Bilateral 70 299 6,634 6,645 6,616 6,639 2,497 2,469 2,333 2,348 Concessional 70 281 6,382 6,417 6,401 6,421 2,289 2,265 2,131 2,140Private creditors 29 49 577 354 350 348 127 117 99 98 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 10 116 27 25 20 16 12 7 3 Other private 29 39 461 327 326 328 111 105 92 95Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 47 56 27 0 0 0 0 0 0 0 IDA 23 249 824 1,555 1,532 1,632 1,739 1,779 2,150 2,756



NET FLOWS ON DEBT 13 93 222 1 127 77 142 114 424 544Public and publicly guaranteed 13 93 222 1 127 77 142 114 424 544Official creditors 20 67 278 211 104 75 154 122 434 548 Multilateral 5 32 123 230 104 82 167 125 454 541 Concessional 3 33 121 200 68 83 170 145 467 542 Bilateral 14 35 156 -19 1 -6 -13 -3 -20 7 Concessional 14 30 115 -12 1 -6 -13 -3 -20 9Private creditors -7 26 -57 -209 23 2 -12 -8 -10 -4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -1 -45 -226 -2 -5 -4 -4 -5 -4 Other private -7 27 -12 16 25 7 -8 -4 -5 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 3 -4 -7 0 0 0 0 0 0 0 IDA 3 28 69 127 50 51 137 116 433 460

210ETHIOPIA



NET TRANSFERS ON DEBT 6 76 173 -52 81 29 87 63 362 502Public and publicly guaranteed 6 76 173 -52 81 29 87 63 362 502Official creditors 15 52 254 172 63 31 104 75 376 507 Multilateral 3 23 110 200 70 49 132 92 427 508 Concessional 3 31 114 185 51 66 152 125 449 521 Bilateral 12 29 145 -28 -7 -18 -28 -17 -51 -1 Concessional 12 25 106 -16 -3 -14 -24 -14 -50 2Private creditors -8 24 -81 -224 18 -1 -17 -12 -13 -5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -2 -56 -240 -4 -6 -5 -5 -6 -5 Other private -8 26 -25 16 22 5 -12 -7 -7 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 -10 -9 0 0 0 0 0 0 0 IDA 3 26 64 116 38 40 125 103 419 447


UNDISBURSED DEBT 108 436 2,002 1,052 860 1,760 1,439 1,663 1,451 1,422Official creditors 105 383 1,565 1,021 846 1,756 1,436 1,663 1,450 1,421Private creditors 4 54 436 31 15 4 3 1 1 1Memorandum items Concessional LDOD 93 562 7,533 8,693 8,632 8,810 4,798 4,811 5,056 5,815 Variable rate LDOD 0 10 114 29 26 20 16 12 7 3 Public sector LDOD 161 685 8,477 9,484 9,425 9,614 5,362 5,327 5,531 6,313 Private sector LDOD 8 3 1 0 0 0 0 0 0 0



211ETHIOPIA



Total amount rescheduled .. .. 0 0 105 35 1,246 0 15 10 Debt stock rescheduled .. .. 0 0 0 3 747 0 0 0 Principal rescheduled .. .. 0 0 89 22 220 0 14 12 Official .. .. 0 0 73 14 216 0 12 12 Private .. .. 0 0 16 8 4 0 2 0 Interest rescheduled .. .. 0 0 16 6 100 0 0 0 Official .. .. 0 0 11 4 99 0 0 0 Private .. .. 0 0 5 2 1 0 0 0Debt forgiven .. .. 66 0 19 6 4,321 0 25 64 Memo: interest forgiven .. .. 0 18 3 1 426 0 11 22Debt stock reduction .. .. 0 195 0 0 0 0 0 0 of which debt buyback .. .. 0 16 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 789 -230 -1 270 -4,803 -61 214 826 Net flows on debt 13 94 203 21 130 93 134 90 454 583 Net change in interest arrears .. .. 27 43 61 61 -540 3 -17 0 Interest capitalized .. .. 0 0 16 6 100 0 0 0 Debt forgiveness or reduction .. .. -66 -180 -19 -6 -4,321 0 -25 -64 Cross-currency valuation .. .. 585 -148 -258 -56 -77 -105 -75 245 Residual .. .. 40 34 69 172 -99 -49 -124 63

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.4 3.6 6.6 2.2 2.4 0.6 0.0 0.8 0.9 1.1 Maturity (years) 33.0 19.2 21.7 30.4 33.5 40.6 17.7 38.8 43.1 39.6 Grace period (years) 6.9 3.8 3.5 7.6 7.4 10.1 8.7 10.1 11.0 9.9 Grant element (%) 44.5 39.5 23.7 62.1 60.7 81.3 70.4 79.5 80.3 76.8Official creditors Interest (%) 4.2 2.4 1.9 0.9 1.2 0.6 0.0 0.8 0.9 1.1 Maturity (years) 37.8 24.1 32.7 35.4 39.6 40.6 17.7 38.8 43.1 39.6 Grace period (years) 8.0 4.6 8.0 9.4 8.9 10.1 8.7 10.1 11.0 9.9 Grant element (%) 49.6 50.8 59.0 75.4 73.6 81.3 70.4 79.5 80.3 76.8Private creditors Interest (%) 5.0 6.3 9.8 7.5 6.8 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.5 8.3 14.1 10.4 11.1 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.7 2.1 0.4 0.7 1.6 0.0 0.0 0.0 0.0 0.0 Grant element (%) 18.1 14.3 -0.4 9.0 13.0 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments 20 194 580 244 69 1,032 1 490 411 511 Official creditors 17 134 236 195 55 1,032 1 490 411 511 Private creditors 3 60 345 49 15 0 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


212FIJI


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 2.3 78.3 33.5 8.6 9.1 6.5 76.0 7.1 4.4 12.6Long-term debt 2.3 78.3 33.5 8.6 9.1 6.5 76.0 7.1 4.4 12.6IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 1.6 19.7 73.0 35.2 23.2 23.9 29.0 22.9 17.8 20.1Long-term debt 1.6 11.2 72.1 35.2 23.2 23.9 29.0 22.9 17.8 20.1IMF repurchases 0.0 8.5 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt 0.7 71.6 -41.5 -23.1 15.6 -44.8 43.8 -17.5 -13.1 13.2of which short-term debt 0.0 13.0 -2.0 3.5 29.6 -27.4 -3.3 -1.7 0.3 20.7Interest payments (INT) 1.1 16.2 32.9 13.5 12.5 10.6 9.7 9.5 8.1 7.7Long-term debt 1.1 9.5 31.4 12.5 10.5 8.9 8.7 8.7 7.5 7.2IMF charges 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 6.3 1.5 1.0 2.0 1.7 1.0 0.8 0.6 0.5Net transfers on debt -0.4 55.4 -74.4 -36.6 3.1 -55.4 34.1 -27.1 -21.2 5.5Total debt service paid (TDS) 2.7 35.8 105.9 48.7 35.7 34.5 38.7 32.4 25.9 27.8Long-term debt 2.7 20.7 103.5 47.7 33.7 32.8 37.7 31.6 25.3 27.3IMF repurchases and charges 0.0 8.8 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) 0.0 6.3 1.5 1.0 2.0 1.7 1.0 0.8 0.6 0.5


NET RESOURCE FLOWS 11.3 118.7 67.5 -5.4 16.0 103.3 28.4 -31.6 81.3 75.4Net flow of long-term debt (ex. IMF) 0.7 67.1 -38.7 -26.6 -14.0 -17.4 47.1 -15.8 -13.4 -7.5Foreign direct investment (net) 6.4 36.3 91.9 2.4 15.6 107.0 -33.2 -25.1 89.6 76.9Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 4.2 15.3 14.3 18.8 14.4 13.7 14.6 9.3 5.1 6.0Memo: technical coop. grants 3.0 16.9 36.2 34.1 33.1 25.7 28.1 21.9 22.4 22.8 official net resource flows 5.8 54.5 -8.7 7.9 11.9 5.3 69.1 -0.8 -2.2 4.0 private net resource flows 5.5 64.2 76.1 -13.3 4.1 98.0 -40.7 -30.7 83.5 71.4

NET TRANSFERS 10.2 78.7 -13.3 -99.8 -85.5 -8.6 -52.2 -115.8 -5.5 -11.8Interest on long-term debt 1.1 9.5 31.4 12.5 10.5 8.9 8.7 8.7 7.5 7.2Profit remittances on FDI 0.0 30.4 49.4 81.9 90.9 103.0 71.9 75.5 79.3 80.0Memo: official net transfers 5.1 48.4 -30.0 -1.0 4.3 -1.5 61.9 -8.7 -9.0 -2.7 private net transfers 5.0 30.3 16.7 -98.8 -89.8 -7.0 -114.1 -107.0 3.5 -9.1


Gross national income (GNI) 210.8 1,184.7 1,289.6 2,059.3 2,047.6 1,569.7 1,759.4 1,614.5 1,659.9 1,839.5Exports of goods, serv. & inc. (XGS) .. 597.1 881.6 1,348.4 1,265.3 986.7 1,110.1 514.0 468.8 472.2Worker remit. & comp. of employees 0.0 4.0 21.3 33.3 34.6 53.9 51.2 23.0 23.0 23.0Imports of goods & services (MGS) .. 656.6 974.3 1,344.4 1,323.7 1,077.2 1,125.9 672.9 626.3 715.4International reserves (RES) 27.4 174.1 261.1 427.5 360.5 385.9 428.9 412.0 366.6 359.1Current account balance .. -17.5 -94.0 13.5 -34.1 -59.9 12.7 .. .. ..

4. DEBT INDICATORS


213FIJI


5. LONG-TERM DEBT




NET FLOWS ON DEBT 0.7 67.1 -38.7 -26.6 -14.0 -17.4 47.1 -15.8 -13.4 -7.5Public and publicly guaranteed 0.7 67.1 -35.4 -11.1 -2.7 -8.4 54.6 -10.2 -7.3 -2.0Official creditors 1.6 39.2 -22.9 -10.9 -2.5 -8.4 54.6 -10.2 -7.3 -2.0 Multilateral 0.0 22.2 -20.5 -8.2 -0.2 -5.1 57.5 -8.9 -6.0 -8.6 Concessional 0.0 2.3 -0.3 -0.5 1.9 -0.4 -0.7 -0.3 -0.3 -0.4 Bilateral 1.6 17.0 -2.4 -2.6 -2.3 -3.3 -3.0 -1.2 -1.3 6.6 Concessional 1.7 -1.4 0.1 -1.3 -1.0 -1.8 -1.5 0.1 -0.7 7.2Private creditors -0.9 27.9 -12.5 -0.2 -0.2 0.0 0.0 0.0 0.0 0.0 Bonds -0.9 -1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 31.0 -5.1 -0.2 -0.2 0.0 0.0 0.0 0.0 0.0 Other private 0.0 -1.5 -7.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 -3.3 -15.5 -11.3 -9.0 -7.5 -5.6 -6.1 -5.5 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 -3.3 -15.5 -11.3 -9.0 -7.5 -5.6 -6.1 -5.5Memo: IBRD 0.0 5.0 -4.0 -0.1 0.4 -0.5 -3.3 -6.8 -3.8 -3.8 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

214FIJI



NET TRANSFERS ON DEBT -0.4 57.6 -70.0 -39.1 -24.6 -26.3 38.4 -24.5 -20.9 -14.7Public and publicly guaranteed -0.4 57.6 -59.3 -20.1 -10.3 -15.3 47.3 -18.1 -14.1 -8.7Official creditors 0.9 33.1 -44.3 -19.8 -10.1 -15.3 47.4 -18.1 -14.1 -8.7 Multilateral 0.0 18.9 -35.5 -16.2 -7.0 -11.1 51.0 -16.3 -12.5 -14.8 Concessional 0.0 2.3 -0.4 -0.6 1.8 -0.5 -0.8 -0.4 -0.4 -0.4 Bilateral 0.9 14.3 -8.7 -3.6 -3.1 -4.1 -3.6 -1.7 -1.6 6.1 Concessional 1.6 -2.2 -0.2 -1.6 -1.2 -2.1 -1.8 -0.2 -0.9 6.8Private creditors -1.4 24.4 -15.1 -0.3 -0.2 0.0 0.0 0.0 0.0 0.0 Bonds -1.4 -1.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 28.9 -6.2 -0.2 -0.2 0.0 0.0 0.0 0.0 0.0 Other private 0.0 -2.6 -8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 -10.7 -19.0 -14.3 -11.0 -9.0 -6.4 -6.8 -6.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 -10.7 -19.0 -14.3 -11.0 -9.0 -6.4 -6.8 -6.0Memo: IBRD 0.0 2.3 -9.6 -2.4 -1.7 -2.4 -5.1 -8.1 -4.7 -4.6 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0





215FIJI




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -1.5 -33.2 1.1 -26.2 43.2 -27.0 -20.6 21.1 Net flows on debt 0.7 71.6 -41.5 -23.1 15.6 -44.8 43.8 -17.5 -13.1 13.2 Net change in interest arrears .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 25.4 -11.3 -10.3 9.1 2.8 -8.1 -7.0 6.3 Residual .. .. 14.6 1.2 -4.2 9.5 -3.4 -1.4 -0.6 1.5



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


216GABON


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 104 1,514 3,983 4,310 4,278 4,425 3,978 3,912 3,413 3,533Long-term debt (LDOD) 91 1,271 3,150 3,972 3,665 3,833 3,290 3,448 3,034 3,231Public and publicly guaranteed 91 1,271 3,150 3,972 3,665 3,833 3,290 3,448 3,034 3,231Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 15 140 120 131 113 86 89 75 67Short-term debt 13 228 693 219 482 478 602 376 304 235of which interest arrears on LDOD 0 0 130 0 0 79 94 61 4 14 Official creditors 0 0 111 0 0 77 92 59 4 12 Private creditors 0 0 19 0 0 2 2 3 0 1Memo: principal arrears on LDOD 0 0 82 0 0 85 116 120 22 47 Official creditors 0 0 17 0 0 83 113 113 22 42 Private creditors 0 0 65 0 0 1 2 7 0 6Memo: export credits 0 0 1,917 2,210 2,539 1,378 1,257 1,134 967 1,221

TOTAL DEBT FLOWS Disbursements 26 170 204 121 168 46 59 47 17 71Long-term debt 26 170 195 89 145 46 59 30 17 71IMF purchases 0 0 9 32 23 0 0 17 0 0Principal repayments 9 279 40 137 172 135 281 196 273 240Long-term debt 9 279 26 131 168 112 256 187 262 227IMF repurchases 0 0 15 5 4 23 25 10 11 13Net flows on debt 17 -122 164 -84 259 -172 -112 -344 -270 -248of which short-term debt 0 -13 0 -69 263 -83 109 -194 -13 -79Interest payments (INT) 3 153 136 247 261 172 257 156 181 170Long-term debt 3 119 78 232 238 142 231 124 166 158IMF charges 0 1 13 4 6 6 4 4 4 2Short-term debt 0 33 45 11 18 25 23 28 12 10Net transfers on debt 14 -275 28 -331 -2 -344 -369 -500 -451 -418Total debt service paid (TDS) 12 432 176 384 433 307 538 352 455 410Long-term debt 12 398 104 363 406 254 487 311 428 385IMF repurchases and charges 0 1 27 10 9 29 29 14 15 15Short-term debt (interest only) 0 33 45 11 18 25 23 28 12 10


NET RESOURCE FLOWS 26 -73 273 -461 -276 132 -315 -161 -40 21Net flow of long-term debt (ex. IMF) 17 -109 170 -42 -23 -66 -197 -157 -245 -156Foreign direct investment (net) -1 32 74 -489 -311 147 -157 -43 169 123Portfolio equity flows 0 0 0 -8 0 0 0 0 0 0Grants (excluding technical coop.) 10 4 30 78 58 52 38 39 36 54Memo: technical coop. grants 7 38 36 43 36 35 35 26 27 29 official net resource flows 17 20 170 86 40 -8 -167 -111 -182 -118 private net resource flows 9 -93 103 -548 -316 140 -148 -49 142 139

NET TRANSFERS 23 -465 79 -1,079 -844 -186 -772 -565 -516 -426Interest on long-term debt 3 119 78 232 238 142 231 124 166 158Profit remittances on FDI 0 273 116 386 330 177 227 280 310 290Memo: official net transfers 15 1 103 -133 -188 -141 -388 -229 -338 -270 private net transfers 8 -466 -24 -946 -657 -45 -384 -336 -178 -157


Gross national income (GNI) 306 3,856 5,336 4,887 4,754 4,067 3,812 4,240 3,753 4,167Exports of goods, serv. & inc. (XGS) .. 2,434 2,750 3,613 3,308 2,188 2,866 3,115 3,277 3,502Worker remit. & comp. of employees 0 0 0 6 6 6 4 4 4 4Imports of goods & services (MGS) .. 1,926 2,448 2,685 2,739 2,727 2,431 2,658 2,767 ..International reserves (RES) 15 115 279 253 286 19 22 194 13 144Current account balance .. 384 168 889 531 -596 390 385 435 ..

4. DEBT INDICATORS


217GABON


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 91 1,271 3,150 3,972 3,665 3,833 3,290 3,448 3,034 3,231Public and publicly guaranteed 91 1,271 3,150 3,972 3,665 3,833 3,290 3,448 3,034 3,231Official creditors 67 316 2,435 3,829 3,534 3,708 3,162 3,330 2,946 3,078 Multilateral 31 40 317 583 528 554 525 463 382 399 Concessional 1 10 29 30 30 32 28 26 26 28 Bilateral 36 276 2,118 3,246 3,006 3,154 2,637 2,867 2,564 2,678 Concessional 35 103 393 717 868 921 797 1,339 1,256 1,284Private creditors 24 955 715 143 130 125 128 118 88 153 Bonds 8 2 0 0 0 0 0 0 0 0 Commercial banks 0 721 181 117 97 85 91 83 66 89 Other private 16 232 535 26 33 40 37 35 22 64Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 29 19 69 92 77 75 68 64 55 50 IDA 0 0 0 0 0 0 0 0 0 0



NET FLOWS ON DEBT 17 -109 170 -42 -23 -66 -197 -157 -245 -156Public and publicly guaranteed 17 -109 170 -42 -23 -66 -197 -157 -245 -156Official creditors 7 16 141 8 -18 -60 -205 -150 -218 -172 Multilateral 0 0 71 17 -8 -1 -25 -34 -41 -9 Concessional 1 0 3 4 3 1 -2 0 0 0 Bilateral 7 17 70 -9 -10 -59 -180 -116 -177 -162 Concessional 7 13 63 14 54 -15 -23 -16 -80 -55Private creditors 9 -125 29 -51 -5 -7 9 -7 -27 16 Bonds 4 -1 0 0 0 0 0 0 0 0 Commercial banks 0 -90 -3 -31 -19 -13 8 -7 -16 -10 Other private 6 -34 32 -20 15 6 1 0 -12 26Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -1 -2 9 -11 -7 -3 -6 -4 -9 -6 IDA 0 0 0 0 0 0 0 0 0 0

218GABON



NET TRANSFERS ON DEBT 14 -227 92 -274 -261 -208 -427 -281 -411 -314Public and publicly guaranteed 14 -227 92 -274 -261 -208 -427 -281 -411 -314Official creditors 5 -3 73 -211 -246 -193 -427 -268 -374 -324 Multilateral -1 -2 51 -26 -52 -21 -54 -76 -69 -27 Concessional 1 0 2 3 2 0 -2 0 0 0 Bilateral 6 -1 23 -185 -194 -172 -373 -192 -305 -296 Concessional 7 10 62 -24 19 -39 -49 -24 -123 -77Private creditors 9 -224 18 -63 -15 -15 -1 -13 -37 10 Bonds 3 -1 0 0 0 0 0 0 0 0 Commercial banks 0 -171 -8 -40 -27 -19 1 -13 -21 -13 Other private 5 -52 26 -23 12 4 -2 0 -16 23Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -2 -3 4 -20 -13 -6 -11 -9 -16 -10 IDA 0 0 0 0 0 0 0 0 0 0


UNDISBURSED DEBT 34 164 285 445 419 444 347 150 129 174Official creditors 15 133 268 445 382 357 299 133 126 174Private creditors 19 31 17 0 37 87 48 17 3 0Memorandum items Concessional LDOD 36 113 421 747 898 953 825 1,365 1,282 1,312 Variable rate LDOD 0 500 415 651 562 543 470 399 325 331 Public sector LDOD 65 1,246 3,148 3,972 3,665 3,833 3,290 3,448 3,034 3,231 Private sector LDOD 26 26 2 0 0 0 0 0 0 0



219GABON




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 632 -50 -32 147 -446 -66 -499 120 Net flows on debt 17 -122 164 -84 259 -172 -112 -344 -270 -248 Net change in interest arrears .. .. 88 0 0 79 15 -32 -58 10 Interest capitalized .. .. 77 64 45 21 0 309 76 0 Debt forgiveness or reduction .. .. 0 0 -2 0 0 0 0 0 Cross-currency valuation .. .. 293 -180 -371 177 -344 -196 -109 309 Residual .. .. 11 151 37 41 -5 197 -138 49

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 5.1 11.2 7.9 6.2 6.0 4.7 0.0 0.0 4.4 4.9 Maturity (years) 10.8 11.2 17.9 15.5 11.4 9.2 0.0 0.0 19.8 9.4 Grace period (years) 1.5 3.4 4.8 5.4 3.9 2.5 0.0 0.0 5.3 2.8 Grant element (%) 19.2 -5.3 12.3 21.6 19.3 23.6 0.0 0.0 36.6 21.3Official creditors Interest (%) 4.0 7.4 7.7 6.2 5.6 1.6 0.0 0.0 4.4 4.3 Maturity (years) 17.3 14.8 19.0 15.5 13.1 17.5 0.0 0.0 19.8 10.4 Grace period (years) 3.6 5.0 5.4 5.4 4.8 5.3 0.0 0.0 5.3 4.3 Grant element (%) 34.4 15.0 13.9 21.6 23.1 54.2 0.0 0.0 36.6 27.1Private creditors Interest (%) 5.2 13.0 9.0 0.0 6.9 6.0 0.0 0.0 0.0 5.9 Maturity (years) 10.0 9.5 11.8 0.0 7.3 5.9 0.0 0.0 0.0 7.8 Grace period (years) 1.3 2.6 1.3 0.0 1.9 1.4 0.0 0.0 0.0 0.4 Grant element (%) 17.4 -15.4 3.3 0.0 10.2 11.2 0.0 0.0 0.0 12.3Memorandum items Commitments 33 196 65 154 175 81 0 0 7 101 Official creditors 4 65 56 154 124 24 0 0 7 61 Private creditors 29 131 10 0 51 58 0 0 0 39


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


220GAMBIA, THE


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 0.8 55.7 32.8 58.1 24.0 20.9 26.3 29.7 31.4 56.0Long-term debt 0.8 51.2 23.5 58.1 24.0 16.2 21.6 20.7 22.7 52.3IMF purchases 0.0 4.4 9.3 0.0 0.0 4.7 4.7 9.1 8.7 3.7Principal repayments 0.1 0.4 25.5 22.2 19.8 19.5 14.7 14.3 9.8 12.8Long-term debt 0.1 0.4 20.2 14.8 13.5 14.6 11.1 12.7 9.6 12.8IMF repurchases 0.0 0.0 5.3 7.4 6.4 4.9 3.5 1.6 0.2 0.0Net flows on debt 0.7 58.3 15.5 44.1 -5.3 3.7 18.5 20.6 21.1 53.5of which short-term debt 0.0 3.0 8.1 8.2 -9.4 2.3 6.8 5.2 -0.5 10.2Interest payments (INT) 0.0 3.8 12.3 5.7 6.8 6.3 6.5 7.3 4.6 6.4Long-term debt 0.0 0.4 10.2 4.5 5.7 5.4 5.5 6.0 3.5 5.7IMF charges 0.0 0.5 1.3 0.1 0.1 0.1 0.0 0.1 0.1 0.1Short-term debt 0.0 2.9 0.8 1.1 1.1 0.8 1.0 1.2 1.0 0.6Net transfers on debt 0.7 54.5 3.2 38.3 -12.1 -2.6 12.0 13.3 16.5 47.1Total debt service paid (TDS) 0.1 4.1 37.7 28.0 26.7 25.7 21.2 21.5 14.4 19.2Long-term debt 0.1 0.8 30.3 19.3 19.1 20.0 16.6 18.7 13.1 18.5IMF repurchases and charges 0.0 0.5 6.7 7.6 6.4 4.9 3.6 1.7 0.3 0.1Short-term debt (interest only) 0.0 2.9 0.8 1.1 1.1 0.8 1.0 1.2 1.0 0.6


NET RESOURCE FLOWS 0.9 78.0 48.0 67.3 40.1 49.4 73.9 73.2 62.6 100.5Net flow of long-term debt (ex. IMF) 0.7 50.9 3.4 43.3 10.5 1.6 10.5 8.0 13.1 39.5Foreign direct investment (net) 0.1 0.0 0.0 10.8 12.0 23.7 49.5 43.5 35.5 42.8Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 0.1 27.2 44.7 13.2 17.6 24.0 13.9 21.7 14.0 18.2Memo: technical coop. grants 0.7 12.7 24.2 18.0 14.1 11.4 12.2 9.7 11.4 12.7 official net resource flows 0.8 56.7 55.5 56.7 28.1 25.7 23.6 30.2 27.5 58.0 private net resource flows 0.1 21.3 -7.5 10.6 12.0 23.7 50.3 43.0 35.1 42.5

NET TRANSFERS 0.9 75.8 37.9 62.7 34.4 44.0 68.5 67.2 59.1 94.8Interest on long-term debt 0.0 0.4 10.2 4.5 5.7 5.4 5.5 6.0 3.5 5.7Profit remittances on FDI 0.0 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: official net transfers 0.8 56.3 50.0 52.2 22.4 20.3 18.1 24.4 24.1 52.4 private net transfers 0.1 19.5 -12.1 10.6 12.0 23.7 50.3 42.8 35.0 42.4


Gross national income (GNI) 52.3 237.0 291.4 385.5 401.2 409.5 425.1 414.3 383.0 349.5Exports of goods, serv. & inc. (XGS) .. 66.2 169.7 226.0 232.7 .. .. .. .. ..Worker remit. & comp. of employees 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. 181.5 205.4 303.4 293.1 .. .. .. .. ..International reserves (RES) 8.1 5.7 55.4 102.1 96.0 106.4 111.2 109.4 106.0 106.9Current account balance .. -86.9 23.4 -47.7 -23.6 .. .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 206.5 217.5 200.0 182.5 .. .. .. .. ..EDT / GNI (%) 9.7 57.7 126.7 117.2 105.8 112.2 109.3 116.7 127.1 163.8TDS / XGS (%) .. 6.2 22.2 12.4 11.5 .. .. .. .. ..INT / XGS (%) .. 5.7 7.2 2.5 2.9 .. .. .. .. ..INT / GNI (%) 0.0 1.6 4.2 1.5 1.7 1.5 1.5 1.8 1.2 1.8RES / EDT (%) 159.8 4.1 15.0 22.6 22.6 23.1 23.9 22.6 21.8 18.7RES / MGS (months) .. 0.4 3.2 4.0 3.9 .. .. .. .. ..Short-term / EDT (%) 0.0 17.0 4.3 5.0 3.1 3.4 4.8 5.7 5.5 6.5Concessional / EDT (%) 96.0 49.9 67.8 87.1 91.3 90.8 89.9 87.1 86.5 85.8Multilateral / EDT (%) 0.0 29.9 55.0 72.5 76.8 75.7 74.5 71.1 70.5 68.6

221GAMBIA, THE


5. LONG-TERM DEBT




NET FLOWS ON DEBT 0.7 50.9 3.4 43.3 10.5 1.6 10.5 8.0 13.1 39.5Public and publicly guaranteed 0.7 50.9 3.4 43.3 10.5 1.6 10.5 8.0 13.1 39.5Official creditors 0.7 29.5 10.9 43.5 10.5 1.6 9.7 8.5 13.5 39.8 Multilateral 0.0 18.3 13.0 16.0 16.5 6.0 8.8 9.1 15.6 23.1 Concessional 0.0 16.1 13.9 18.8 19.1 8.3 11.0 10.7 16.7 24.7 Bilateral 0.7 11.3 -2.1 27.5 -6.0 -4.4 0.9 -0.7 -2.1 16.7 Concessional 0.7 11.3 -2.1 30.0 -5.6 -4.4 0.9 0.3 -1.1 17.8Private creditors 0.0 21.3 -7.5 -0.2 0.0 0.0 0.8 -0.5 -0.4 -0.3 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 6.9 -3.0 0.0 0.0 0.0 0.0 -0.3 -0.3 -0.2 Other private 0.0 14.4 -4.5 -0.2 0.0 0.0 0.8 -0.2 -0.1 -0.2Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 5.2 9.5 9.1 7.8 1.7 3.6 5.4 6.9 14.3

222GAMBIA, THE



NET TRANSFERS ON DEBT 0.7 50.5 -6.8 38.8 4.8 -3.8 5.0 2.0 9.6 33.8Public and publicly guaranteed 0.7 50.5 -6.8 38.8 4.8 -3.8 5.0 2.0 9.6 33.8Official creditors 0.7 29.2 5.4 39.0 4.8 -3.8 4.2 2.7 10.1 34.2 Multilateral 0.0 17.9 10.1 12.7 13.1 2.7 5.3 5.5 13.1 19.7 Concessional 0.0 15.9 12.4 16.4 16.4 5.6 8.0 7.5 14.5 21.6 Bilateral 0.7 11.3 -4.7 26.3 -8.3 -6.5 -1.1 -2.8 -3.0 14.4 Concessional 0.7 11.3 -4.7 29.0 -7.8 -6.5 -1.1 -1.5 -1.7 15.9Private creditors 0.0 21.3 -12.1 -0.2 0.0 0.0 0.8 -0.7 -0.5 -0.4 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 6.9 -6.8 0.0 0.0 0.0 0.0 -0.4 -0.3 -0.2 Other private 0.0 14.4 -5.4 -0.2 0.0 0.0 0.8 -0.3 -0.2 -0.2Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 5.1 8.8 7.9 6.6 0.4 2.4 4.2 5.8 13.0





223GAMBIA, THE




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 31.4 25.9 -27.3 34.9 5.1 18.7 3.6 85.6 Net flows on debt 0.7 58.3 15.5 44.1 -5.3 3.7 18.5 20.6 21.1 53.5 Net change in interest arrears .. .. -3.5 -0.5 0.0 0.0 -0.1 0.0 0.0 0.0 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 -4.1 -4.0 Cross-currency valuation .. .. 3.3 -39.1 -38.8 -19.0 -12.2 -9.5 -5.1 20.3 Residual .. .. 16.1 21.4 16.7 50.2 -1.1 7.7 -8.3 15.9



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


224GEORGIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 1,361 1,466 1,648 1,653 1,638 1,729 1,838Long-term debt (LDOD) .. .. .. 1,106 1,190 1,316 1,326 1,316 1,364 1,495Public and publicly guaranteed .. .. .. 1,106 1,190 1,301 1,309 1,274 1,311 1,444Private nonguaranteed .. .. .. 0 0 15 17 42 53 51Use of IMF credit .. .. .. 192 255 304 320 278 287 310Short-term debt .. .. .. 64 22 28 7 44 78 33of which interest arrears on LDOD .. .. .. 43 18 0 1 1 18 0 Official creditors .. .. .. 30 18 0 1 1 18 0 Private creditors .. .. .. 13 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. .. 135 77 59 113 179 247 302 Official creditors .. .. .. 118 77 59 113 179 247 302 Private creditors .. .. .. 17 0 0 0 0 0 0Memo: export credits .. .. .. 100 84 90 82 76 125 140

TOTAL DEBT FLOWS Disbursements .. .. .. 173 173 279 142 65 139 127Long-term debt .. .. .. 92 96 241 97 65 105 98IMF purchases .. .. .. 81 76 38 46 0 34 29Principal repayments .. .. .. 1 3 150 62 68 43 86Long-term debt .. .. .. 1 3 149 40 42 27 56IMF repurchases .. .. .. 0 0 1 22 26 15 30Net flows on debt .. .. .. 169 153 153 59 33 114 15of which short-term debt .. .. .. -3 -17 24 -22 36 17 -27Interest payments (INT) .. .. .. 12 44 63 47 49 35 43Long-term debt .. .. .. 6 37 57 42 43 29 39IMF charges .. .. .. 5 6 6 5 5 3 2Short-term debt .. .. .. 1 1 1 0 1 2 2Net transfers on debt .. .. .. 157 109 90 12 -17 79 -28Total debt service paid (TDS) .. .. .. 13 46 213 109 118 77 129Long-term debt .. .. .. 7 40 205 82 86 57 95IMF repurchases and charges .. .. .. 5 6 7 26 31 19 32Short-term debt (interest only) .. .. .. 1 1 1 0 1 2 2





Gross national income (GNI) .. .. .. 3,007 3,703 3,811 2,950 3,165 3,234 3,415Exports of goods, serv. & inc. (XGS) .. .. .. .. 864 1,046 907 939 995 1,168Worker remit. & comp. of employees .. .. .. 0 284 373 361 274 181 184Imports of goods & services (MGS) .. .. .. .. 1,472 1,392 1,152 1,248 1,348 1,525International reserves (RES) .. .. .. 189 200 123 132 109 159 198Current account balance .. .. .. .. -514 -276 -198 -269 -212 -230

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. .. 169.6 157.6 182.3 174.5 173.7 157.4EDT / GNI (%) .. .. .. 45.3 39.6 43.2 56.0 51.8 53.4 53.8TDS / XGS (%) .. .. .. .. 5.4 20.3 12.0 12.5 7.8 11.0INT / XGS (%) .. .. .. .. 5.0 6.0 5.2 5.3 3.5 3.7INT / GNI (%) .. .. .. 0.4 1.2 1.7 1.6 1.6 1.1 1.3RES / EDT (%) .. .. .. 13.9 13.6 7.5 8.0 6.7 9.2 10.7RES / MGS (months) .. .. .. .. 1.6 1.1 1.4 1.1 1.4 1.6Short-term / EDT (%) .. .. .. 4.7 1.5 1.7 0.4 2.7 4.5 1.8Concessional / EDT (%) .. .. .. 30.3 43.5 46.0 49.6 49.1 49.7 54.3Multilateral / EDT (%) .. .. .. 23.0 24.7 26.4 29.1 29.2 30.1 34.6

225GEORGIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 1,106 1,190 1,316 1,326 1,316 1,364 1,495Public and publicly guaranteed .. .. .. 1,106 1,190 1,301 1,309 1,274 1,311 1,444Official creditors .. .. .. 1,014 1,187 1,298 1,307 1,272 1,309 1,442 Multilateral .. .. .. 313 363 436 481 478 521 635 Concessional .. .. .. 157 212 275 348 350 399 494 Bilateral .. .. .. 701 824 862 826 794 788 806 Concessional .. .. .. 255 426 484 473 454 460 504Private creditors .. .. .. 92 3 3 2 2 2 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 92 3 3 2 2 2 2Private nonguaranteed .. .. .. 0 0 15 17 42 53 51 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 15 17 42 53 51Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 157 212 274 346 347 396 491



NET FLOWS ON DEBT .. .. .. 91 94 93 57 23 77 43Public and publicly guaranteed .. .. .. 91 94 86 53 -3 64 59Official creditors .. .. .. 91 94 86 53 -3 64 59 Multilateral .. .. .. 78 76 57 69 19 62 66 Concessional .. .. .. 76 64 54 80 19 63 62 Bilateral .. .. .. 13 17 29 -16 -23 2 -7 Concessional .. .. .. 14 17 48 9 -10 14 19Private creditors .. .. .. 0 0 0 0 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 0 0 0 0 0 0 0Private nonguaranteed .. .. .. 0 0 7 4 26 13 -16 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 7 4 26 13 -16Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 76 64 53 79 18 63 61

226GEORGIA



NET TRANSFERS ON DEBT .. .. .. 85 56 36 15 -21 48 4Public and publicly guaranteed .. .. .. 85 56 30 12 -45 37 22Official creditors .. .. .. 85 56 30 12 -45 37 22 Multilateral .. .. .. 73 69 33 61 11 52 56 Concessional .. .. .. 76 63 52 78 16 61 59 Bilateral .. .. .. 12 -12 -3 -49 -56 -15 -33 Concessional .. .. .. 14 4 33 -7 -27 -3 3Private creditors .. .. .. 0 0 0 0 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 0 0 0 0 0 0 0Private nonguaranteed .. .. .. 0 0 6 3 24 11 -18 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 6 3 24 11 -18Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 76 63 51 77 15 61 58


UNDISBURSED DEBT .. .. .. 105 181 271 332 338 336 328Official creditors .. .. .. 105 181 271 332 338 336 328Private creditors .. .. .. 0 0 0 0 0 0 0Memorandum items Concessional LDOD .. .. .. 413 638 758 821 803 860 999 Variable rate LDOD .. .. .. 202 141 162 136 156 162 181 Public sector LDOD .. .. .. 1,106 1,186 1,292 1,299 1,264 1,303 1,438 Private sector LDOD .. .. .. 0 4 24 27 52 61 57



227GEORGIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 121 104 182 5 -16 91 109 Net flows on debt .. .. .. 169 153 153 59 33 114 15 Net change in interest arrears .. .. 0 -19 -25 -17 1 1 17 -18 Interest capitalized .. .. .. 26 17 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -46 -4 0 0 0 0 0 Cross-currency valuation .. .. 0 -23 -115 -25 -52 -51 -36 97 Residual .. .. 0 14 79 72 -2 2 -4 15



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


228GHANA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 571 1,402 3,837 6,402 6,313 6,933 6,979 6,625 6,734 7,338Long-term debt (LDOD) 520 1,166 2,772 5,206 5,289 5,878 5,951 5,744 5,896 6,382Public and publicly guaranteed 510 1,156 2,739 4,935 5,022 5,615 5,691 5,487 5,641 6,129Private nonguaranteed 10 10 33 271 267 263 260 257 255 253Use of IMF credit 46 105 745 543 347 334 310 293 284 363Short-term debt 5 131 320 654 677 722 718 588 555 593of which interest arrears on LDOD 5 5 56 11 13 16 20 26 18 21 Official creditors 1 4 45 2 5 11 13 19 4 5 Private creditors 4 1 11 9 9 4 8 7 14 16Memo: principal arrears on LDOD 25 6 77 33 14 63 88 84 47 62 Official creditors 7 4 50 10 7 54 64 60 9 21 Private creditors 18 2 27 22 6 10 24 24 38 41Memo: export credits 0 0 411 735 883 161 162 141 192 291

TOTAL DEBT FLOWS Disbursements 44 249 503 940 649 713 457 429 641 316Long-term debt 42 220 438 900 649 602 396 394 574 248IMF purchases 2 29 65 40 0 112 61 35 67 68Principal repayments 39 106 260 329 395 386 344 309 216 116Long-term debt 14 77 144 204 230 248 268 272 150 111IMF repurchases 25 29 116 125 166 139 76 37 65 5Net flows on debt 5 75 341 660 275 369 105 -16 400 235of which short-term debt 0 -68 98 49 21 42 -8 -136 -25 34Interest payments (INT) 12 53 106 151 160 192 175 155 98 95Long-term debt 12 31 57 108 126 152 136 116 70 76IMF charges 0 4 37 7 5 2 2 1 1 2Short-term debt 0 18 12 36 29 38 38 38 27 17Net transfers on debt -7 22 235 509 115 176 -70 -171 302 140Total debt service paid (TDS) 51 159 367 480 555 579 519 465 314 211Long-term debt 26 108 201 312 355 400 404 388 220 187IMF repurchases and charges 25 33 153 133 171 141 77 39 67 6Short-term debt (interest only) 0 18 12 36 29 38 38 38 27 17


NET RESOURCE FLOWS 101 181 758 1,032 665 762 629 514 819 515Net flow of long-term debt (ex. IMF) 28 143 294 696 419 354 128 122 423 137Foreign direct investment (net) 68 16 15 120 83 167 244 166 89 50Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 5 22 449 216 163 240 257 227 306 328Memo: technical coop. grants 15 42 61 96 108 104 112 126 115 127 official net resource flows 35 207 763 633 498 541 437 407 575 488 private net resource flows 66 -26 -5 399 167 221 193 107 244 27

NET TRANSFERS 89 135 693 913 527 596 478 382 731 374Interest on long-term debt 12 31 57 108 126 152 136 116 70 76Profit remittances on FDI 0 15 7 12 13 14 16 16 18 65Memo: official net transfers 28 183 720 557 421 452 358 333 533 443 private net transfers 61 -48 -27 356 106 144 120 49 198 -69


Gross national income (GNI) 2,170 4,426 5,774 6,782 6,750 7,322 7,547 4,831 5,201 6,030Exports of goods, serv. & inc. (XGS) .. 1,214 996 1,778 1,708 2,588 2,519 2,489 2,461 2,628Worker remit. & comp. of employees 0 1 6 28 26 30 31 32 46 44Imports of goods & services (MGS) .. 1,264 1,624 2,557 2,791 3,814 4,073 3,474 3,699 3,516International reserves (RES) 43 330 309 930 618 457 535 309 376 636Current account balance .. 30 -223 -325 -550 -522 -964 -386 -325 -31

4. DEBT INDICATORS


229GHANA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 520 1,166 2,772 5,206 5,289 5,878 5,951 5,744 5,896 6,382Public and publicly guaranteed 510 1,156 2,739 4,935 5,022 5,615 5,691 5,487 5,641 6,129Official creditors 332 1,034 2,516 4,407 4,438 4,959 5,111 4,989 5,085 5,596 Multilateral 53 279 1,846 3,138 3,197 3,563 3,682 3,663 3,723 4,084 Concessional 11 139 1,510 2,855 2,966 3,345 3,490 3,515 3,599 3,973 Bilateral 279 756 669 1,270 1,241 1,396 1,429 1,326 1,361 1,512 Concessional 235 637 567 1,110 1,077 1,239 1,294 1,199 1,033 1,203Private creditors 178 121 224 528 584 656 580 498 556 533 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 12 0 10 204 183 171 132 114 182 195 Other private 166 121 214 323 401 485 448 385 375 338Private nonguaranteed 10 10 33 271 267 263 260 257 255 253 Bonds 0 0 0 250 250 250 250 250 250 250 Commercial banks and other 10 10 33 21 17 13 10 7 5 3Memo: IBRD 43 114 113 44 30 27 18 9 6 5 IDA 11 99 1,310 2,530 2,617 2,962 3,099 3,130 3,172 3,471



NET FLOWS ON DEBT 28 143 294 696 419 354 128 122 423 137Public and publicly guaranteed 28 143 294 452 423 358 131 125 425 139Official creditors 29 185 314 417 335 300 179 180 269 160 Multilateral 3 47 245 243 239 240 194 155 196 112 Concessional 4 21 207 266 267 265 218 187 213 135 Bilateral 27 138 69 174 96 60 -14 25 73 48 Concessional 27 79 62 72 85 70 2 25 49 20Private creditors -2 -42 -20 35 88 58 -48 -56 156 -21 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -22 -7 53 -13 -16 -30 -9 72 15 Other private -2 -20 -13 -18 101 73 -18 -46 84 -36Private nonguaranteed 0 0 0 244 -4 -4 -3 -3 -2 -2 Bonds 0 0 0 250 0 0 0 0 0 0 Commercial banks and other 0 0 0 -6 -4 -4 -3 -3 -2 -2Memo: IBRD -1 21 -10 -10 -11 -4 -8 -8 -3 -1 IDA 4 5 199 234 225 245 199 179 159 89

230GHANA



NET TRANSFERS ON DEBT 16 112 237 588 294 202 -8 6 354 61Public and publicly guaranteed 16 112 239 346 312 221 10 23 370 77Official creditors 22 161 271 340 257 211 100 106 227 115 Multilateral 0 37 215 200 199 202 155 117 164 76 Concessional 4 20 197 246 246 242 193 161 186 109 Bilateral 22 124 56 140 58 9 -54 -10 63 39 Concessional 24 69 50 43 64 30 -29 2 43 13Private creditors -7 -48 -32 5 55 10 -91 -83 143 -38 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -24 -9 46 -24 -30 -44 -15 68 12 Other private -7 -25 -23 -40 80 40 -47 -69 75 -50Private nonguaranteed 0 0 -2 243 -19 -19 -17 -17 -16 -16 Bonds 0 0 0 250 -14 -14 -14 -14 -14 -14 Commercial banks and other 0 0 -2 -7 -5 -5 -4 -4 -2 -2Memo: IBRD -4 13 -20 -13 -15 -6 -10 -9 -4 -2 IDA 4 4 191 216 207 225 178 157 134 69


UNDISBURSED DEBT 76 431 1,705 1,980 1,552 1,256 1,325 1,281 1,274 1,037Official creditors 76 431 1,591 1,696 1,366 1,159 1,139 945 1,090 901Private creditors 0 0 113 284 186 97 186 336 184 136Memorandum items Concessional LDOD 246 775 2,077 3,966 4,043 4,584 4,784 4,714 4,631 5,176 Variable rate LDOD 10 10 51 304 293 284 274 267 320 317 Public sector LDOD 510 1,128 2,739 4,935 5,022 5,615 5,691 5,487 5,641 6,129 Private sector LDOD 10 38 33 271 267 263 260 257 255 253



231GHANA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 476 514 -89 620 46 -354 110 604 Net flows on debt 5 75 341 660 275 369 105 -16 400 235 Net change in interest arrears .. .. 17 -17 3 2 5 6 -8 3 Interest capitalized .. .. 0 21 0 0 0 0 52 21 Debt forgiveness or reduction .. .. -102 -7 -7 -12 0 0 0 -140 Cross-currency valuation .. .. 171 -391 -568 -22 -103 -323 -256 414 Residual .. .. 49 248 209 284 40 -21 -78 71



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


232GRENADA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 5.8 1.7 14.8 9.6 14.6 6.2 13.9 51.0 20.7 113.0Long-term debt 5.8 1.0 14.8 9.6 14.6 6.2 13.9 51.0 20.7 113.0IMF purchases 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 0.0 1.6 1.7 5.2 5.2 7.8 7.5 9.4 10.4 12.2Long-term debt 0.0 0.9 1.3 5.2 5.2 7.8 7.5 9.4 10.4 12.2IMF repurchases 0.0 0.7 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt 5.8 -0.9 13.1 10.1 2.8 53.9 -35.0 37.5 44.2 116.9of which short-term debt 0.0 -1.0 0.0 5.7 -6.7 55.5 -41.4 -4.1 33.9 16.1Interest payments (INT) 0.3 0.8 1.6 3.0 2.3 3.8 4.5 4.5 6.1 13.4Long-term debt 0.3 0.5 1.2 2.2 1.8 2.1 2.2 3.6 4.8 12.3IMF charges 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 0.2 0.4 0.8 0.5 1.7 2.3 1.0 1.2 1.1Net transfers on debt 5.6 -1.7 11.5 7.0 0.5 50.1 -39.5 33.0 38.1 103.5Total debt service paid (TDS) 0.3 2.3 3.3 8.2 7.4 11.7 12.0 13.9 16.5 25.6Long-term debt 0.3 1.3 2.4 7.4 7.0 9.9 9.7 12.9 15.2 24.6IMF repurchases and charges 0.0 0.8 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) 0.0 0.2 0.4 0.8 0.5 1.7 2.3 1.0 1.2 1.1


NET RESOURCE FLOWS 5.8 1.1 30.7 25.8 47.1 51.1 49.9 86.0 62.8 144.4Net flow of long-term debt (ex. IMF) 5.8 0.1 13.5 4.4 9.5 -1.6 6.4 41.6 10.3 100.8Foreign direct investment (net) 0.0 0.0 12.9 17.0 33.5 48.7 41.6 37.4 48.8 41.0Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 0.0 1.0 4.2 4.4 4.1 4.0 1.9 7.1 3.7 2.6Memo: technical coop. grants 0.0 0.8 2.8 3.4 3.3 3.4 1.6 4.7 1.6 1.9 official net resource flows 0.3 1.7 17.4 9.6 14.2 2.1 7.6 20.3 18.1 6.9 private net resource flows 5.6 -0.6 13.2 16.2 33.0 49.1 42.4 65.7 44.7 137.5

NET TRANSFERS 5.6 0.5 21.1 9.5 29.7 29.2 26.8 54.7 26.4 107.0Interest on long-term debt 0.3 0.5 1.2 2.2 1.8 2.1 2.2 3.6 4.8 12.3Profit remittances on FDI 0.0 0.2 8.4 14.1 15.6 19.8 20.9 27.8 31.6 25.0Memo: official net transfers 0.3 1.4 16.4 7.4 12.4 0.0 5.5 17.9 15.4 2.0 private net transfers 5.3 -0.9 4.7 2.1 17.3 29.2 21.4 36.8 11.0 105.0


Gross national income (GNI) .. .. 208.9 279.6 288.7 317.7 352.1 372.3 371.9 375.0Exports of goods, serv. & inc. (XGS) .. 39.1 105.5 136.4 143.6 169.9 222.3 241.6 200.9 188.2Worker remit. & comp. of employees 0.0 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. 63.1 153.2 213.3 233.0 279.3 294.0 343.5 307.6 329.4International reserves (RES) 5.3 12.9 17.6 35.7 42.7 46.8 50.8 57.7 63.9 87.8Current account balance .. 0.3 -46.2 -55.5 -67.9 -80.3 -52.4 -81.9 -85.1 -120.7

4. DEBT INDICATORS

EDT / XGS (%) .. 50.2 105.0 103.3 85.7 105.1 64.3 74.0 107.0 180.3EDT / GNI (%) .. .. 53.0 50.4 42.7 56.2 40.6 48.0 57.8 90.5TDS / XGS (%) .. 6.0 3.1 6.0 5.2 6.9 5.4 5.8 8.2 13.6INT / XGS (%) .. 2.0 1.5 2.2 1.6 2.3 2.0 1.9 3.0 7.1INT / GNI (%) .. .. 0.7 1.1 0.8 1.2 1.3 1.2 1.6 3.6RES / EDT (%) 35.6 65.8 15.9 25.4 34.6 26.2 35.6 32.3 29.7 25.9RES / MGS (months) .. 2.5 1.4 2.0 2.2 2.0 2.1 2.0 2.5 3.2Short-term / EDT (%) 0.0 5.1 11.6 14.8 6.5 35.9 16.6 11.3 25.3 20.8Concessional / EDT (%) 31.8 60.6 61.0 58.0 67.3 46.0 60.4 52.6 46.3 31.4Multilateral / EDT (%) 0.0 29.2 35.7 36.9 43.0 29.8 39.1 35.6 30.7 22.4

233GRENADA


5. LONG-TERM DEBT




NET FLOWS ON DEBT 5.8 0.1 13.5 4.4 9.5 -1.6 6.4 41.6 10.3 100.8Public and publicly guaranteed 5.8 0.1 13.5 4.4 9.5 -1.6 6.4 41.6 10.3 100.8Official creditors 0.3 0.7 13.2 5.2 10.0 -1.9 5.6 13.3 14.4 4.3 Multilateral 0.0 1.0 1.8 2.0 1.7 -0.2 3.0 8.5 3.1 8.7 Concessional 0.0 0.0 2.0 0.0 1.4 -0.2 2.6 4.9 0.1 6.5 Bilateral 0.3 -0.3 11.4 3.2 8.3 -1.7 2.6 4.8 11.3 -4.4 Concessional 0.1 -0.2 1.2 2.7 1.2 -1.1 2.7 5.2 13.1 -2.5Private creditors 5.6 -0.6 0.3 -0.8 -0.5 0.4 0.8 28.3 -4.1 96.5 Bonds 5.6 -0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 -0.1 -0.1 0.0 0.0 2.5 28.5 -3.0 98.6 Other private 0.0 0.0 0.4 -0.7 -0.5 0.4 -1.7 -0.2 -1.1 -2.1Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.9 1.1 0.8 IDA 0.0 0.0 1.0 0.2 0.3 0.9 1.3 0.7 0.0 6.0

234GRENADA



NET TRANSFERS ON DEBT 5.6 -0.3 12.4 2.2 7.7 -3.7 4.2 38.0 5.4 88.4Public and publicly guaranteed 5.6 -0.3 12.4 2.2 7.7 -3.7 4.2 38.0 5.4 88.4Official creditors 0.3 0.4 12.2 3.0 8.3 -4.0 3.6 10.8 11.6 -0.6 Multilateral 0.0 0.8 0.8 0.6 0.5 -1.7 1.4 7.3 1.4 6.7 Concessional 0.0 -0.2 1.1 -1.1 0.2 -1.4 1.3 4.1 -0.9 5.3 Bilateral 0.3 -0.4 11.3 2.4 7.8 -2.3 2.1 3.5 10.3 -7.3 Concessional 0.1 -0.2 1.2 2.5 1.1 -1.4 2.6 4.5 12.6 -4.7Private creditors 5.3 -0.7 0.2 -0.8 -0.6 0.3 0.7 27.2 -6.2 89.0 Bonds 5.3 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 -0.3 -0.1 -0.1 -0.1 2.4 27.3 -5.0 91.2 Other private 0.0 0.0 0.4 -0.7 -0.5 0.4 -1.8 -0.2 -1.2 -2.2Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.8 0.9 0.5 IDA 0.0 0.0 0.9 0.1 0.2 0.8 1.3 0.6 0.0 5.9





235GRENADA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 21.8 13.5 -17.7 55.4 -35.6 35.8 36.3 124.3 Net flows on debt 5.8 -0.9 13.1 10.1 2.8 53.9 -35.0 37.5 44.2 116.9 Net change in interest arrears .. .. 2.3 0.5 -6.2 0.6 1.0 0.7 0.2 0.2 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 6.3 3.0 -2.4 0.8 -1.6 -2.5 -1.3 3.2 Residual .. .. 0.1 -0.1 -12.0 0.0 0.0 0.1 -6.8 4.0



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


236GUATEMALA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 159 1,180 3,080 3,772 3,876 4,074 4,209 4,265 4,528 4,676Long-term debt (LDOD) 120 845 2,605 2,876 2,975 3,174 3,300 3,323 3,579 3,744Public and publicly guaranteed 106 563 2,478 2,755 2,872 2,992 3,138 3,182 3,458 3,641Private nonguaranteed 14 282 127 121 103 182 162 142 121 102Use of IMF credit 0 0 67 0 0 0 0 0 0 0Short-term debt 39 335 409 896 901 900 910 942 949 932of which interest arrears on LDOD 0 0 202 101 96 88 89 87 84 87 Official creditors 0 0 47 38 34 26 27 26 22 26 Private creditors 0 0 155 63 61 61 61 61 61 61Memo: principal arrears on LDOD 0 0 308 521 523 512 506 504 492 492 Official creditors 0 0 102 187 173 163 157 151 139 143 Private creditors 0 0 206 335 349 349 349 354 352 349Memo: export credits 0 0 545 353 526 331 265 256 150 168

TOTAL DEBT FLOWS Disbursements 43 173 165 158 361 268 334 239 204 337Long-term debt 43 173 165 158 361 268 334 239 204 337IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments 30 78 102 194 201 195 197 196 216 220Long-term debt 22 78 90 194 201 195 197 196 216 220IMF repurchases 8 0 12 0 0 0 0 0 0 0Net flows on debt 13 130 67 167 170 80 146 77 -2 97of which short-term debt 0 34 4 203 10 7 9 34 10 -20Interest payments (INT) 7 67 111 160 152 183 191 212 220 192Long-term debt 7 60 88 120 106 137 141 162 172 157IMF charges 0 0 7 0 0 0 0 0 0 0Short-term debt 0 8 16 41 46 46 50 50 49 34Net transfers on debt 6 62 -45 6 18 -103 -45 -135 -223 -95Total debt service paid (TDS) 37 145 214 354 353 378 388 408 436 412Long-term debt 29 137 179 314 307 332 338 358 388 378IMF repurchases and charges 8 0 19 0 0 0 0 0 0 0Short-term debt (interest only) 0 8 16 41 46 46 50 50 49 34


NET RESOURCE FLOWS 53 221 191 158 400 898 478 418 577 380Net flow of long-term debt (ex. IMF) 21 96 75 -36 160 73 137 43 -12 117Foreign direct investment (net) 29 111 48 77 84 673 155 230 456 110Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 2 14 69 117 156 152 187 146 134 152Memo: technical coop. grants 9 18 87 79 101 90 84 88 122 126 official net resource flows 9 130 148 152 240 277 377 241 174 319 private net resource flows 44 91 44 6 160 621 101 178 403 61

NET TRANSFERS 46 117 66 -91 130 632 187 8 200 -34Interest on long-term debt 7 60 88 120 106 137 141 162 172 157Profit remittances on FDI 0 44 37 130 164 130 150 248 205 257Memo: official net transfers 6 101 95 61 153 179 270 120 30 182 private net transfers 39 17 -29 -152 -23 453 -83 -112 170 -216


Gross national income (GNI) 1,866 7,834 7,494 15,569 17,540 19,239 18,125 19,087 20,868 23,000Exports of goods, serv. & inc. (XGS) .. 1,834 1,695 3,212 3,672 4,035 4,022 4,640 4,814 5,499Worker remit. & comp. of employees 0 26 119 375 408 457 466 596 634 1,600Imports of goods & services (MGS) .. 2,107 2,028 3,810 4,504 5,323 5,297 5,991 6,472 7,071International reserves (RES) 79 753 362 948 1,173 1,397 1,252 1,806 2,352 2,373Current account balance .. -163 -213 -452 -634 -1,039 -1,026 -1,050 -1,253 -1,193

4. DEBT INDICATORS


237GUATEMALA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 120 845 2,605 2,876 2,975 3,174 3,300 3,323 3,579 3,744Public and publicly guaranteed 106 563 2,478 2,755 2,872 2,992 3,138 3,182 3,458 3,641Official creditors 54 548 1,702 2,149 2,173 2,330 2,510 2,586 2,895 3,111 Multilateral 33 364 1,039 1,043 1,074 1,217 1,434 1,519 1,733 1,960 Concessional 13 153 335 379 384 389 419 429 439 439 Bilateral 21 183 663 1,105 1,099 1,112 1,076 1,068 1,162 1,150 Concessional 21 96 359 893 903 936 916 922 1,015 1,010Private creditors 52 15 776 607 699 662 628 595 563 531 Bonds 14 0 190 231 337 307 276 245 215 182 Commercial banks 36 14 166 126 116 114 111 111 111 111 Other private 3 1 420 250 245 242 241 239 237 238Private nonguaranteed 14 282 127 121 103 182 162 142 121 102 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 14 282 127 121 103 182 162 142 121 102Memo: IBRD 14 144 293 200 188 203 258 296 330 400 IDA 0 0 0 0 0 0 0 0 0 0



NET FLOWS ON DEBT 21 96 75 -36 160 73 137 43 -12 117Public and publicly guaranteed 17 126 71 -15 178 88 157 63 8 136Official creditors 7 116 79 35 84 125 191 95 40 167 Multilateral 6 69 40 67 66 128 210 91 86 214 Concessional 5 33 14 8 6 4 23 7 0 -4 Bilateral 1 47 38 -32 19 -3 -20 4 -46 -47 Concessional 1 23 52 -24 31 18 -6 17 -33 -38Private creditors 10 10 -8 -50 94 -37 -33 -32 -32 -31 Bonds -8 0 -11 -33 106 -31 -31 -31 -31 -31 Commercial banks 19 11 -10 -14 -8 -3 -2 0 0 0 Other private -1 -2 12 -3 -4 -4 0 -2 -2 0Private nonguaranteed 4 -30 4 -21 -18 -15 -20 -20 -20 -19 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 -30 4 -21 -18 -15 -20 -20 -20 -19Memo: IBRD 2 35 11 56 4 14 55 38 35 70 IDA 0 0 0 0 0 0 0 0 0 0

238GUATEMALA



NET TRANSFERS ON DEBT 14 36 -13 -155 53 -63 -4 -119 -184 -40Public and publicly guaranteed 11 96 -8 -130 75 -38 25 -80 -156 -17Official creditors 4 86 26 -56 -3 27 83 -25 -104 30 Multilateral 5 48 7 9 10 68 137 3 -18 109 Concessional 4 31 10 0 -1 -4 15 -2 -9 -13 Bilateral 0 38 19 -65 -13 -41 -54 -29 -86 -79 Concessional 0 19 49 -51 6 -10 -35 -13 -67 -67Private creditors 6 10 -34 -75 79 -65 -58 -55 -52 -46 Bonds -10 0 -28 -54 93 -58 -55 -53 -50 -46 Commercial banks 17 11 -15 -16 -9 -3 -3 0 0 0 Other private -1 -2 9 -5 -5 -5 -1 -2 -2 0Private nonguaranteed 3 -60 -6 -25 -22 -25 -29 -39 -28 -24 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 -60 -6 -25 -22 -25 -29 -39 -28 -24Memo: IBRD 1 24 8 42 -10 2 40 17 12 47 IDA 0 0 0 0 0 0 0 0 0 0


UNDISBURSED DEBT 69 507 802 713 672 840 1,055 895 855 1,173Official creditors 59 397 741 707 671 839 1,055 895 855 1,165Private creditors 10 110 61 6 2 1 0 0 0 8Memorandum items Concessional LDOD 34 249 694 1,272 1,287 1,325 1,335 1,351 1,454 1,449 Variable rate LDOD 25 296 409 722 702 875 1,011 1,045 1,167 1,377 Public sector LDOD 106 563 2,475 2,755 2,872 2,992 3,138 3,182 3,458 3,641 Private sector LDOD 15 282 130 121 103 182 162 142 121 102



239GUATEMALA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 430 117 103 198 136 56 262 148 Net flows on debt 13 130 67 167 170 80 146 77 -2 97 Net change in interest arrears .. .. 81 3 -5 -8 1 -2 -3 3 Interest capitalized .. .. 7 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 36 -62 -72 23 -14 -29 -23 56 Residual .. .. 239 8 10 103 3 10 291 -8



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


240GUINEA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 98 129 196 143 264 180 106 70 122 66Long-term debt 94 121 196 143 232 148 95 70 95 49IMF purchases 4 8 0 0 32 32 11 0 26 17Principal repayments 11 76 110 66 100 104 73 98 68 99Long-term debt 11 74 96 58 89 94 66 90 60 89IMF repurchases 0 1 14 8 10 9 7 8 9 10Net flows on debt 87 22 86 72 403 -43 68 -41 14 -31of which short-term debt 0 -31 0 -4 238 -120 35 -12 -40 2Interest payments (INT) 4 33 59 47 55 55 55 57 37 37Long-term debt 4 23 53 43 45 43 44 41 29 32IMF charges 0 1 2 0 0 1 1 1 0 1Short-term debt 0 9 4 3 10 12 11 15 7 3Net transfers on debt 83 -11 27 25 348 -99 13 -97 -23 -68Total debt service paid (TDS) 15 109 169 113 155 159 128 155 105 136Long-term debt 15 98 149 101 134 137 110 131 89 121IMF repurchases and charges 0 2 16 9 11 10 8 9 9 11Short-term debt (interest only) 0 9 4 3 10 12 11 15 7 3


NET RESOURCE FLOWS 84 73 211 258 285 244 251 101 185 99Net flow of long-term debt (ex. IMF) 83 47 100 85 142 54 29 -20 36 -40Foreign direct investment (net) 0 1 18 24 17 18 63 10 2 0Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 2 25 93 149 125 172 158 112 148 139Memo: technical coop. grants 4 19 61 68 49 49 54 51 53 56 official net resource flows 79 26 212 217 288 237 188 91 184 99 private net resource flows 6 47 -1 40 -3 7 63 10 1 0

NET TRANSFERS 80 49 97 179 194 141 175 52 110 65Interest on long-term debt 4 23 53 43 45 43 44 41 29 32Profit remittances on FDI 0 0 61 36 46 60 32 8 46 1Memo: official net transfers 76 5 165 174 246 194 144 50 154 67 private net transfers 5 44 -68 4 -52 -53 31 1 -44 -1


Gross national income (GNI) .. .. 2,665 3,775 3,661 3,460 3,377 3,035 2,971 3,153Exports of goods, serv. & inc. (XGS) .. .. 841 775 749 817 780 759 854 998Worker remit. & comp. of employees 0 0 0 1 2 5 6 1 9 15Imports of goods & services (MGS) .. .. 1,115 1,053 955 1,088 1,053 973 995 1,074International reserves (RES) .. .. .. 87 122 237 200 148 200 171Current account balance .. .. -203 -177 -91 -154 -201 -140 -60 -46

4. DEBT INDICATORS

EDT / XGS (%) .. .. 294.3 418.3 469.5 434.0 451.9 446.4 381.1 340.9EDT / GNI (%) .. .. 92.9 85.8 96.1 102.5 104.3 111.6 109.5 107.9TDS / XGS (%) .. .. 20.0 14.6 20.7 19.5 16.4 20.4 12.3 13.6INT / XGS (%) .. .. 7.0 6.1 7.3 6.8 7.1 7.5 4.3 3.7INT / GNI (%) .. .. 2.2 1.2 1.5 1.6 1.6 1.9 1.2 1.2RES / EDT (%) .. .. .. 2.7 3.5 6.7 5.7 4.4 6.2 5.0RES / MGS (months) .. .. .. 1.0 1.5 2.6 2.3 1.8 2.4 1.9Short-term / EDT (%) 1.5 7.0 6.9 5.5 11.7 8.3 9.5 9.9 8.8 8.5Concessional / EDT (%) 75.1 59.8 67.7 74.9 70.5 74.7 74.3 74.9 76.4 76.9Multilateral / EDT (%) 6.2 11.5 27.4 45.9 44.2 47.6 47.7 47.7 48.8 50.2

241GUINEA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 319 1,019 2,253 2,981 3,009 3,126 3,061 2,940 2,844 2,972Public and publicly guaranteed 319 1,019 2,253 2,981 3,009 3,126 3,061 2,940 2,844 2,972Official creditors 279 860 2,144 2,883 2,933 3,097 3,032 2,911 2,815 2,944 Multilateral 20 130 678 1,486 1,555 1,688 1,679 1,615 1,589 1,708 Concessional 0 63 602 1,221 1,299 1,448 1,459 1,419 1,425 1,551 Bilateral 259 731 1,467 1,397 1,378 1,408 1,352 1,296 1,226 1,236 Concessional 246 615 1,073 1,205 1,181 1,200 1,159 1,117 1,060 1,063Private creditors 40 158 108 98 76 30 29 29 29 29 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 24 24 12 0 0 0 0 0 Other private 40 150 84 74 63 30 29 29 29 29Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 20 55 28 0 0 0 0 0 0 0 IDA 0 32 392 863 922 1,016 1,014 982 1,003 1,096



NET FLOWS ON DEBT 83 47 100 85 142 54 29 -20 36 -40Public and publicly guaranteed 83 47 100 85 142 54 29 -20 36 -40Official creditors 77 1 119 68 163 64 30 -20 36 -40 Multilateral 15 20 68 76 160 74 37 19 63 3 Concessional 0 31 80 44 145 99 42 31 69 24 Bilateral 62 -19 51 -8 3 -10 -7 -39 -27 -43 Concessional 51 -19 57 -4 -1 -12 -8 -9 -24 -41Private creditors 6 46 -19 17 -20 -10 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 4 -7 0 -11 -17 0 0 0 0 Other private 6 42 -11 17 -10 6 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 15 -3 -12 0 0 0 0 0 0 0 IDA 0 10 51 43 105 61 19 17 63 28

242GUINEA



NET TRANSFERS ON DEBT 79 24 47 41 98 11 -15 -62 6 -72Public and publicly guaranteed 79 24 47 41 98 11 -15 -62 6 -72Official creditors 74 -20 72 25 121 21 -15 -61 7 -72 Multilateral 14 12 57 52 136 49 11 -6 43 -20 Concessional 0 31 74 33 134 89 27 18 57 11 Bilateral 60 -32 15 -27 -15 -28 -25 -56 -37 -52 Concessional 49 -31 34 -15 -13 -25 -18 -18 -31 -49Private creditors 5 44 -25 16 -23 -10 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 3 -13 0 -13 -17 0 0 0 0 Other private 5 40 -12 16 -11 6 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 14 -9 -14 0 0 0 0 0 0 0 IDA 0 10 49 36 99 55 10 10 56 22


UNDISBURSED DEBT 196 527 1,183 632 476 356 257 221 288 283Official creditors 173 412 1,182 605 469 356 257 221 288 283Private creditors 24 115 0 27 7 0 0 0 0 0Memorandum items Concessional LDOD 246 678 1,675 2,425 2,479 2,649 2,618 2,536 2,485 2,614 Variable rate LDOD 0 3 173 30 18 5 5 5 4 4 Public sector LDOD 319 1,019 2,253 2,981 3,009 3,126 3,061 2,940 2,844 2,972 Private sector LDOD 0 0 0 0 0 0 0 0 0 0



243GUINEA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 300 -2 279 27 -23 -135 -134 147 Net flows on debt 87 22 86 72 403 -43 68 -41 14 -31 Net change in interest arrears .. .. 25 21 -4 1 6 13 -8 0 Interest capitalized .. .. 0 0 11 7 6 0 3 3 Debt forgiveness or reduction .. .. -2 0 -7 -118 -4 0 -36 -31 Cross-currency valuation .. .. 106 -148 -206 -10 -69 -97 -72 141 Residual .. .. 85 54 82 190 -31 -9 -35 64



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


244GUINEA-BISSAU


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. 139.6 692.1 936.8 921.3 965.6 933.7 804.4 668.3 699.2Long-term debt (LDOD) .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1Public and publicly guaranteed .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Use of IMF credit .. 1.4 5.3 7.7 12.2 15.4 17.3 24.7 23.2 23.4Short-term debt .. 5.1 56.5 73.0 70.7 76.0 82.2 64.2 17.9 13.7of which interest arrears on LDOD .. 1.1 29.9 61.5 62.7 71.9 79.1 51.2 7.8 7.7 Official creditors .. 1.1 27.5 61.4 62.7 71.8 79.0 51.1 7.8 7.7 Private creditors .. 0.0 2.4 0.0 0.0 0.1 0.1 0.1 0.0 0.0Memo: principal arrears on LDOD .. 4.5 112.8 157.7 161.6 176.9 199.7 114.7 27.5 26.7 Official creditors .. 2.7 107.0 157.4 161.3 176.5 199.2 114.1 27.5 26.7 Private creditors .. 1.8 5.9 0.3 0.3 0.4 0.5 0.6 0.0 0.0Memo: export credits .. 0.0 98.0 94.7 152.7 164.6 156.8 152.2 148.0 241.1

TOTAL DEBT FLOWS Disbursements .. 74.7 36.5 31.3 36.5 17.7 5.0 22.2 5.9 6.0Long-term debt .. 74.7 36.5 28.3 30.3 14.5 2.1 13.6 5.9 6.0IMF purchases .. 0.0 0.0 3.0 6.1 3.2 2.9 8.6 0.0 0.0Principal repayments .. 3.0 2.3 6.7 6.1 7.0 4.0 9.6 13.4 10.0Long-term debt .. 3.0 2.3 5.6 5.0 6.4 3.4 9.4 13.4 8.5IMF repurchases .. 0.0 0.0 1.1 1.0 0.6 0.6 0.2 0.0 1.5Net flows on debt .. 72.7 45.7 30.1 26.9 6.7 0.0 22.5 -10.4 -8.1of which short-term debt .. 1.0 11.6 5.5 -3.5 -3.9 -1.0 10.0 -2.9 -4.1Interest payments (INT) .. 1.6 6.1 4.5 3.6 5.1 5.1 10.3 9.9 4.7Long-term debt .. 1.1 3.4 4.0 3.0 4.7 4.8 9.6 9.2 4.2IMF charges .. 0.1 0.0 0.0 0.1 0.1 0.1 0.3 0.3 0.2Short-term debt .. 0.5 2.7 0.5 0.5 0.3 0.2 0.5 0.5 0.3Net transfers on debt .. 71.0 39.6 25.6 23.3 1.5 -5.1 12.2 -20.3 -12.8Total debt service paid (TDS) .. 4.6 8.4 11.2 9.7 12.2 9.1 20.0 23.3 14.8Long-term debt .. 4.1 5.7 9.6 8.1 11.2 8.1 19.0 22.5 12.7IMF repurchases and charges .. 0.1 0.0 1.1 1.1 0.7 0.7 0.5 0.3 1.8Short-term debt (interest only) .. 0.5 2.7 0.5 0.5 0.3 0.2 0.5 0.5 0.3


NET RESOURCE FLOWS .. 108.4 96.4 77.8 89.0 60.8 48.5 55.3 30.2 33.0Net flow of long-term debt (ex. IMF) .. 71.7 34.2 22.7 25.3 8.0 -1.3 4.2 -7.5 -2.5Foreign direct investment (net) .. 0.0 2.0 1.0 11.5 4.4 8.6 0.7 0.7 1.0Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. 36.7 60.2 54.1 52.2 48.3 41.2 50.4 37.0 34.5Memo: technical coop. grants .. 12.1 21.4 40.5 40.3 31.6 12.6 13.0 15.3 17.5 official net resource flows .. 90.6 94.5 76.9 77.5 56.4 39.9 54.6 29.5 32.0 private net resource flows .. 17.8 1.9 0.9 11.5 4.4 8.6 0.7 0.7 1.0

NET TRANSFERS .. 107.3 93.0 73.8 84.9 55.0 42.8 44.8 20.5 27.8Interest on long-term debt .. 1.1 3.4 4.0 3.0 4.7 4.8 9.6 9.2 4.2Profit remittances on FDI .. 0.0 0.0 0.0 1.0 1.0 1.0 0.9 0.6 1.0Memo: official net transfers .. 90.4 91.3 73.0 74.4 51.6 35.2 45.0 20.4 27.8 private net transfers .. 16.9 1.7 0.8 10.5 3.4 7.6 -0.2 0.1 0.0


Gross national income (GNI) .. 104.8 233.3 251.9 254.3 191.5 210.1 203.2 183.1 207.0Exports of goods, serv. & inc. (XGS) .. .. 27.1 30.6 58.9 .. .. .. .. ..Worker remit. & comp. of employees .. 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. .. 110.5 104.7 102.9 .. .. .. .. ..International reserves (RES) .. .. 18.2 11.5 33.7 35.8 35.3 66.7 69.5 102.7Current account balance .. .. -45.3 -44.5 -6.4 .. .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. 2,554.0 3,064.4 1,565.2 .. .. .. .. ..EDT / GNI (%) .. 133.3 296.6 371.9 362.3 504.4 444.5 395.9 365.1 337.8TDS / XGS (%) .. .. 31.1 36.5 16.4 .. .. .. .. ..INT / XGS (%) .. .. 22.5 14.6 6.1 .. .. .. .. ..INT / GNI (%) .. 1.6 2.6 1.8 1.4 2.7 2.4 5.1 5.4 2.3RES / EDT (%) .. .. 2.6 1.2 3.7 3.7 3.8 8.3 10.4 14.7RES / MGS (months) .. .. 2.0 1.3 3.9 .. .. .. .. ..Short-term / EDT (%) .. 3.6 8.2 7.8 7.7 7.9 8.8 8.0 2.7 2.0Concessional / EDT (%) .. 62.0 56.7 72.1 72.2 72.3 71.6 75.4 85.1 86.8Multilateral / EDT (%) .. 24.5 39.5 40.9 42.0 42.5 42.7 48.6 54.6 55.8

245GUINEA-BISSAU


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1Public and publicly guaranteed .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1Official creditors .. 96.9 597.4 855.4 837.6 873.5 833.4 714.7 627.1 662.1 Multilateral .. 34.2 273.3 382.7 386.9 410.1 398.3 390.5 364.7 390.4 Concessional .. 29.0 244.3 365.7 371.9 395.1 384.4 377.4 356.2 382.7 Bilateral .. 62.7 324.1 472.7 450.6 463.4 435.1 324.2 262.4 271.7 Concessional .. 57.6 148.2 309.6 293.6 302.6 283.7 229.3 212.7 224.5Private creditors .. 36.2 32.9 0.8 0.8 0.8 0.8 0.8 0.1 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 2.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 34.0 32.9 0.8 0.8 0.8 0.8 0.8 0.1 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 4.7 145.5 216.2 220.7 233.5 227.9 227.6 219.9 237.1

DISBURSEMENTS .. 74.7 36.5 28.3 30.3 14.5 2.1 13.6 5.9 6.0Public and publicly guaranteed .. 74.7 36.5 28.3 30.3 14.5 2.1 13.6 5.9 6.0Official creditors .. 54.1 36.5 28.3 30.3 14.5 2.1 13.6 5.9 6.0 Multilateral .. 29.5 30.3 28.3 30.3 14.5 2.1 13.6 5.9 6.0 Concessional .. 24.3 30.3 27.7 30.3 14.5 2.1 13.6 5.9 6.0 Bilateral .. 24.7 6.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Concessional .. 24.2 6.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private creditors .. 20.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 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 0.0 Other private .. 20.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 4.2 15.5 14.1 17.7 5.3 2.1 13.6 3.9 3.8

PRINCIPAL REPAYMENTS .. 3.0 2.3 5.6 5.0 6.4 3.4 9.4 13.4 8.5Public and publicly guaranteed .. 3.0 2.3 5.6 5.0 6.4 3.4 9.4 13.4 8.5Official creditors .. 0.2 2.3 5.5 5.0 6.4 3.4 9.4 13.4 8.5 Multilateral .. 0.0 1.5 4.1 3.5 6.4 3.4 2.7 4.1 4.3 Concessional .. 0.0 0.6 2.5 2.9 5.7 3.3 2.7 3.0 2.8 Bilateral .. 0.2 0.8 1.4 1.6 0.0 0.0 6.7 9.2 4.2 Concessional .. 0.0 0.3 0.2 1.6 0.0 0.0 0.0 2.5 4.2Private creditors .. 2.8 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 2.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.1 0.8 1.3 0.5 2.7 2.4 1.5 0.0

NET FLOWS ON DEBT .. 71.7 34.2 22.7 25.3 8.0 -1.3 4.2 -7.5 -2.5Public and publicly guaranteed .. 71.7 34.2 22.7 25.3 8.0 -1.3 4.2 -7.5 -2.5Official creditors .. 53.9 34.2 22.8 25.3 8.0 -1.3 4.2 -7.5 -2.5 Multilateral .. 29.5 28.8 24.1 26.9 8.0 -1.3 10.9 1.7 1.7 Concessional .. 24.3 29.7 25.1 27.4 8.8 -1.2 11.0 2.9 3.2 Bilateral .. 24.5 5.4 -1.4 -1.6 0.0 0.0 -6.7 -9.2 -4.2 Concessional .. 24.2 5.9 -0.2 -1.6 0.0 0.0 0.0 -2.5 -4.2Private creditors .. 17.8 -0.1 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 18.1 -0.1 -0.1 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 4.2 15.4 13.3 16.4 4.8 -0.6 11.3 2.4 3.8

246GUINEA-BISSAU


INTEREST PAYMENTS (LINT) .. 1.1 3.4 4.0 3.0 4.7 4.8 9.6 9.2 4.2Public and publicly guaranteed .. 1.1 3.4 4.0 3.0 4.7 4.8 9.6 9.2 4.2Official creditors .. 0.3 3.1 3.9 3.0 4.7 4.8 9.6 9.2 4.2 Multilateral .. 0.0 2.6 2.8 2.9 2.2 2.6 1.7 1.0 1.6 Concessional .. 0.0 1.8 2.2 2.7 1.8 2.6 1.7 0.9 1.5 Bilateral .. 0.2 0.6 1.1 0.1 2.5 2.1 7.9 8.1 2.6 Concessional .. 0.2 0.3 1.1 0.1 2.5 2.1 0.0 4.4 2.6Private creditors .. 0.8 0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 0.7 0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 1.1 1.4 1.8 0.8 2.5 1.6 0.8 0.4

NET TRANSFERS ON DEBT .. 70.6 30.8 18.7 22.2 3.3 -6.0 -5.3 -16.7 -6.7Public and publicly guaranteed .. 70.6 30.8 18.7 22.2 3.3 -6.0 -5.3 -16.7 -6.7Official creditors .. 53.7 31.1 18.9 22.2 3.3 -6.0 -5.3 -16.7 -6.7 Multilateral .. 29.4 26.2 21.3 23.9 5.8 -3.9 9.2 0.7 0.1 Concessional .. 24.3 27.9 22.9 24.7 7.0 -3.8 9.3 2.0 1.7 Bilateral .. 24.2 4.9 -2.5 -1.7 -2.5 -2.1 -14.6 -17.4 -6.8 Concessional .. 24.0 5.7 -1.3 -1.7 -2.5 -2.1 0.0 -6.9 -6.8Private creditors .. 16.9 -0.3 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 17.4 -0.3 -0.2 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 4.2 14.2 11.9 14.6 4.0 -3.1 9.7 1.6 3.4

DEBT SERVICE (LTDS) .. 4.1 5.7 9.6 8.1 11.2 8.1 19.0 22.5 12.7Public and publicly guaranteed .. 4.1 5.7 9.6 8.1 11.2 8.1 19.0 22.5 12.7Official creditors .. 0.5 5.4 9.4 8.1 11.2 8.1 19.0 22.5 12.7 Multilateral .. 0.0 4.0 6.9 6.4 8.7 6.0 4.4 5.2 5.9 Concessional .. 0.0 2.3 4.7 5.6 7.4 5.9 4.3 3.8 4.3 Bilateral .. 0.4 1.4 2.5 1.7 2.5 2.1 14.6 17.4 6.8 Concessional .. 0.2 0.5 1.3 1.7 2.5 2.1 0.0 6.9 6.8Private creditors .. 3.6 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 3.1 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 1.2 2.2 3.1 1.4 5.2 4.0 2.3 0.4

UNDISBURSED DEBT .. 72.6 271.9 91.4 85.2 77.8 66.4 74.9 72.6 105.7Official creditors .. 66.6 263.6 91.4 85.2 77.8 66.4 74.9 72.6 105.7Private creditors .. 6.0 8.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Concessional LDOD .. 86.6 392.6 675.3 665.5 697.7 668.1 606.7 568.9 607.2 Variable rate LDOD .. 2.1 36.9 15.7 15.7 15.7 15.7 15.7 9.8 8.3 Public sector LDOD .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1 Private sector LDOD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0



247GUINEA-BISSAU




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 98.9 38.5 -15.5 44.3 -31.9 -129.3 -136.1 30.9 Net flows on debt .. 72.7 45.7 30.1 26.9 6.7 0.0 22.5 -10.4 -8.1 Net change in interest arrears .. .. 6.6 -27.2 1.2 9.2 7.2 -28.0 -43.3 -0.1 Interest capitalized .. .. 6.8 43.3 0.1 0.1 0.0 0.0 15.3 1.5 Debt forgiveness or reduction .. .. -4.5 -3.4 0.0 0.0 0.0 -92.0 -70.7 -19.6 Cross-currency valuation .. .. 35.1 -31.4 -45.6 12.4 -35.0 -20.3 -16.1 44.7 Residual .. .. 9.3 27.1 1.8 16.0 -4.2 -11.7 -10.8 12.6

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. 2.8 2.2 2.5 0.7 0.8 0.0 0.9 0.8 0.8 Maturity (years) .. 17.5 28.1 25.4 47.9 39.4 0.0 37.9 49.8 41.4 Grace period (years) .. 3.9 10.4 5.9 10.8 9.9 0.0 9.8 10.3 10.1 Grant element (%) .. 39.5 61.8 55.0 83.7 80.2 0.0 77.6 83.3 80.9Official creditors Interest (%) .. 2.7 2.2 2.5 0.7 0.8 0.0 0.9 0.8 0.8 Maturity (years) .. 17.9 28.1 25.4 47.9 39.4 0.0 37.9 49.8 41.4 Grace period (years) .. 4.0 10.4 5.9 10.8 9.9 0.0 9.8 10.3 10.1 Grant element (%) .. 40.5 61.8 55.0 83.7 80.2 0.0 77.6 83.3 80.9Private creditors Interest (%) .. 7.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 3.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. 5.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments .. 44 98 1 40 12 0 27 6 32 Official creditors .. 42 98 1 40 12 0 27 6 32 Private creditors .. 1 0 0 0 0 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


248GUYANA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 14 169 264 109 90 70 63 73 63 49Long-term debt 14 115 159 83 65 57 51 64 63 42IMF purchases 0 55 104 26 25 12 12 9 0 7Principal repayments 2 58 175 73 76 73 56 41 25 45Long-term debt 2 43 69 49 51 52 41 25 19 36IMF repurchases 0 16 107 24 26 22 15 17 5 9Net flows on debt 12 155 256 38 12 26 26 19 23 13of which short-term debt 0 44 167 1 -1 30 19 -13 -16 8Interest payments (INT) 3 35 120 32 56 63 39 30 20 33Long-term debt 3 31 73 29 54 60 35 26 17 31IMF charges 0 4 40 2 1 1 1 1 1 0Short-term debt 0 1 7 1 1 2 3 3 2 1Net transfers on debt 8 120 135 6 -44 -36 -14 -11 4 -20Total debt service paid (TDS) 6 93 295 104 132 136 95 71 44 78Long-term debt 6 74 142 78 104 112 77 51 36 67IMF repurchases and charges 0 19 146 25 27 22 15 17 6 9Short-term debt (interest only) 0 1 7 1 1 2 3 3 2 1


NET RESOURCE FLOWS 22 77 173 130 262 154 84 145 138 65Net flow of long-term debt (ex. IMF) 12 72 91 35 14 6 9 40 44 6Foreign direct investment (net) 9 1 8 59 52 44 46 67 56 44Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 2 4 74 37 196 105 29 39 37 15Memo: technical coop. grants 3 8 9 17 14 7 15 18 21 21 official net resource flows 14 70 181 70 214 114 43 79 82 22 private net resource flows 8 6 -8 61 48 40 41 67 55 43

NET TRANSFERS 19 45 100 86 202 91 46 113 115 30Interest on long-term debt 3 31 73 29 54 60 35 26 17 31Profit remittances on FDI 0 0 0 15 6 4 3 6 5 4Memo: official net transfers 12 59 117 43 161 56 10 53 66 -6 private net transfers 7 -13 -18 43 41 35 36 60 50 37


Gross national income (GNI) 247 561 275 650 673 648 640 660 653 665Exports of goods, serv. & inc. (XGS) .. 411 .. 747 769 716 704 713 695 726Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 538 .. 843 905 847 801 848 850 826International reserves (RES) 20 13 29 330 316 277 268 305 287 284Current account balance .. -129 .. -69 -111 -102 -78 -115 -134 -111

4. DEBT INDICATORS

EDT / XGS (%) .. 203.3 .. 221.4 212.6 211.8 210.1 200.6 201.5 200.9EDT / GNI (%) 33.5 148.7 715.8 254.3 243.0 234.0 231.1 216.9 214.5 219.5TDS / XGS (%) .. 22.8 .. 13.9 17.2 19.1 13.5 9.9 6.4 10.7INT / XGS (%) .. 8.6 .. 4.2 7.2 8.8 5.6 4.2 2.8 4.5INT / GNI (%) 1.4 6.3 43.7 4.9 8.3 9.7 6.1 4.5 3.0 4.9RES / EDT (%) 24.7 1.5 1.5 19.9 19.3 18.2 18.1 21.3 20.5 19.5RES / MGS (months) .. 0.3 .. 4.7 4.2 3.9 4.0 4.3 4.1 4.1Short-term / EDT (%) 0.0 14.1 3.8 5.5 6.6 8.7 10.0 9.1 9.2 9.9Concessional / EDT (%) 48.4 27.5 56.9 54.2 55.6 54.6 69.3 72.6 74.2 74.4Multilateral / EDT (%) 0.8 13.5 23.7 40.4 40.7 46.2 39.3 41.8 45.0 46.4

249GUYANA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 83 631 1,781 1,394 1,370 1,229 1,191 1,184 1,174 1,218Public and publicly guaranteed 83 631 1,781 1,394 1,370 1,229 1,186 1,180 1,170 1,214Official creditors 66 379 1,610 1,307 1,289 1,152 1,144 1,135 1,120 1,163 Multilateral 1 112 468 669 666 700 581 598 630 677 Concessional 0 69 291 554 574 620 517 551 594 645 Bilateral 66 267 1,142 639 623 452 562 538 489 486 Concessional 40 160 831 342 335 209 508 488 445 440Private creditors 17 252 172 87 81 77 43 45 50 51 Bonds 17 14 0 0 0 0 0 0 0 0 Commercial banks 0 124 104 42 40 37 3 6 12 12 Other private 0 113 67 44 42 41 40 39 38 39Private nonguaranteed 0 0 0 0 0 0 5 4 4 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 5 4 4 3Memo: IBRD 0 36 59 27 19 16 12 8 5 3 IDA 0 18 93 212 218 234 184 180 178 196



NET FLOWS ON DEBT 12 72 91 35 14 6 9 40 44 6Public and publicly guaranteed 12 72 91 35 14 6 11 40 45 7Official creditors 12 66 107 33 18 10 14 40 45 7 Multilateral 1 34 80 50 25 18 27 44 47 24 Concessional 0 29 103 66 40 33 40 56 55 32 Bilateral 12 33 27 -17 -7 -8 -13 -4 -2 -17 Concessional 5 12 19 -9 -2 -3 -9 -1 -1 -16Private creditors -1 6 -16 2 -4 -4 -3 0 0 0 Bonds 0 0 -1 0 0 0 0 0 0 0 Commercial banks -1 10 -8 6 -2 -3 -3 0 0 0 Other private 0 -4 -8 -5 -2 -1 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 -2 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 -2 0 0 0Memo: IBRD 0 1 -31 -5 -5 -5 -3 -3 -3 -3 IDA 0 2 54 16 17 9 7 5 6 6

250GUYANA



NET TRANSFERS ON DEBT 8 41 18 6 -39 -55 -26 13 27 -24Public and publicly guaranteed 8 41 18 6 -39 -55 -24 14 28 -24Official creditors 10 55 43 6 -35 -49 -19 14 28 -21 Multilateral 0 30 23 34 9 -5 14 34 37 16 Concessional 0 28 95 60 31 17 33 50 48 26 Bilateral 9 25 20 -28 -43 -44 -33 -20 -9 -37 Concessional 4 8 16 -18 -14 -22 -22 -16 -7 -36Private creditors -2 -14 -25 -1 -5 -6 -5 0 -1 -3 Bonds -1 -1 -1 0 0 0 0 0 0 0 Commercial banks -1 -4 -12 6 -3 -3 -4 0 0 0 Other private 0 -10 -12 -6 -2 -2 -2 0 0 -2Private nonguaranteed 0 0 0 0 0 0 -2 -1 -1 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 -2 -1 -1 -1Memo: IBRD 0 -2 -62 -8 -7 -6 -4 -4 -3 -3 IDA 0 2 53 14 16 7 5 4 5 4


UNDISBURSED DEBT 56 226 275 275 271 280 246 262 199 269Official creditors 56 210 270 275 271 280 246 262 199 269Private creditors 0 16 4 0 0 0 0 0 0 0Memorandum items Concessional LDOD 40 229 1,121 896 909 828 1,025 1,038 1,038 1,085 Variable rate LDOD 0 148 259 99 95 88 80 83 87 91 Public sector LDOD 83 631 1,781 1,394 1,370 1,229 1,186 1,180 1,170 1,214 Private sector LDOD 0 0 0 0 0 0 5 4 4 3



251GUYANA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 312 -474 -19 -119 -38 -47 -31 59 Net flows on debt 12 155 256 38 12 26 26 19 23 13 Net change in interest arrears .. .. -37 -60 18 -6 -4 -4 15 8 Interest capitalized .. .. 38 37 0 0 1 0 0 0 Debt forgiveness or reduction .. .. -31 -459 -2 0 -174 -5 -6 -5 Cross-currency valuation .. .. 43 -78 -109 -51 -109 -64 -16 42 Residual .. .. 44 47 62 -89 223 8 -47 0



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


252HAITI


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 43 350 911 904 1,052 1,050 1,182 1,169 1,252 1,248Long-term debt (LDOD) 40 290 772 843 902 982 1,041 1,039 1,028 1,063Public and publicly guaranteed 40 290 772 843 902 982 1,041 1,039 1,028 1,063Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 3 46 38 25 43 38 45 39 39 31Short-term debt 0 14 101 36 107 30 96 90 185 154of which interest arrears on LDOD 0 0 24 1 1 1 1 1 4 8 Official creditors 0 0 14 1 1 1 1 1 4 8 Private creditors 0 0 10 0 0 0 0 0 0 0Memo: principal arrears on LDOD 4 0 43 2 2 2 2 2 9 17 Official creditors 0 0 14 2 2 2 2 2 9 17 Private creditors 4 0 29 0 0 0 0 0 0 0Memo: export credits 0 0 117 100 99 84 80 78 88 111

TOTAL DEBT FLOWS Disbursements 4 77 44 107 119 94 79 51 14 4Long-term debt 4 47 38 107 98 94 79 51 14 4IMF purchases 0 29 5 0 21 0 0 0 0 0Principal repayments 3 21 20 16 19 22 30 21 11 16Long-term debt 3 18 8 13 17 16 19 18 11 7IMF repurchases 0 3 12 3 1 5 11 3 0 9Net flows on debt 1 51 39 100 172 -5 114 24 95 -47of which short-term debt 0 -5 16 10 71 -77 66 -6 92 -35Interest payments (INT) 0 9 15 13 19 20 20 20 14 12Long-term debt 0 6 6 10 14 15 15 15 10 8IMF charges 0 1 3 1 1 1 1 1 1 1Short-term debt 0 2 7 2 3 3 3 5 3 3Net transfers on debt 1 42 24 87 153 -24 95 4 80 -59Total debt service paid (TDS) 4 29 36 29 37 41 50 41 26 28Long-term debt 4 24 14 23 31 32 34 33 21 15IMF repurchases and charges 0 3 15 4 2 6 13 4 1 10Short-term debt (interest only) 0 2 7 2 3 3 3 5 3 3


NET RESOURCE FLOWS 6 73 95 251 218 223 198 137 81 84Net flow of long-term debt (ex. IMF) 1 29 30 93 81 78 59 33 2 -3Foreign direct investment (net) 3 13 0 4 4 11 30 13 4 6Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 2 30 65 154 133 134 109 91 75 81Memo: technical coop. grants 4 32 66 93 109 96 102 91 94 78 official net resource flows 2 52 95 247 214 212 168 124 77 78 private net resource flows 4 20 0 4 4 11 30 13 4 6

NET TRANSFERS 6 55 89 242 200 198 176 107 61 68Interest on long-term debt 0 6 6 10 14 15 15 15 10 8Profit remittances on FDI 0 11 0 0 4 10 7 15 11 8Memo: official net transfers 1 48 89 237 200 197 153 109 67 70 private net transfers 4 7 0 5 0 1 23 -2 -7 -2


Gross national income (GNI) 391 1,446 2,836 2,985 3,297 3,753 4,095 3,874 3,788 3,443Exports of goods, serv. & inc. (XGS) .. 415 325 192 379 479 .. .. .. ..Worker remit. & comp. of employees 0 106 96 96 96 96 96 96 96 96Imports of goods & services (MGS) .. 498 540 792 905 1,033 .. .. .. ..International reserves (RES) 4 27 10 223 213 264 264 183 142 82Current account balance .. -101 -22 -138 -48 -38 .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 84.3 280.2 471.8 277.5 219.1 .. .. .. ..EDT / GNI (%) 11.0 24.2 32.1 30.3 31.9 28.0 28.9 30.2 33.1 36.2TDS / XGS (%) .. 7.0 11.0 15.3 9.8 8.6 .. .. .. ..INT / XGS (%) .. 2.1 4.7 7.0 4.9 4.1 .. .. .. ..INT / GNI (%) 0.1 0.6 0.5 0.4 0.6 0.5 0.5 0.5 0.4 0.3RES / EDT (%) 10.0 7.6 1.1 24.7 20.2 25.1 22.4 15.6 11.3 6.6RES / MGS (months) .. 0.6 0.2 3.4 2.8 3.1 .. .. .. ..Short-term / EDT (%) 0.0 4.0 11.1 4.0 10.2 2.8 8.1 7.7 14.8 12.3Concessional / EDT (%) 68.3 74.7 79.1 93.1 85.6 93.4 88.0 88.8 82.0 85.1Multilateral / EDT (%) 0.8 37.8 53.7 76.4 71.2 79.1 75.9 77.2 71.4 74.7

253HAITI


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 40 290 772 843 902 982 1,041 1,039 1,028 1,063Public and publicly guaranteed 40 290 772 843 902 982 1,041 1,039 1,028 1,063Official creditors 29 266 725 843 902 982 1,041 1,039 1,028 1,063 Multilateral 0 132 489 691 749 830 897 903 894 932 Concessional 0 132 489 691 749 830 897 903 894 932 Bilateral 29 134 236 152 153 152 144 136 134 131 Concessional 29 129 231 151 152 151 143 136 133 131Private creditors 11 23 47 0 0 0 0 0 0 0 Bonds 4 0 0 0 0 0 0 0 0 0 Commercial banks 0 8 47 0 0 0 0 0 0 0 Other private 7 16 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 66 324 442 458 493 504 480 467 501



NET FLOWS ON DEBT 1 29 30 93 81 78 59 33 2 -3Public and publicly guaranteed 1 29 30 93 81 78 59 33 2 -3Official creditors -1 22 30 93 81 78 59 33 2 -3 Multilateral 0 21 22 91 77 81 64 37 6 1 Concessional 0 21 22 91 77 81 64 37 6 1 Bilateral -1 1 8 2 4 -3 -5 -4 -4 -4 Concessional -1 -3 8 3 4 -3 -5 -4 -4 -4Private creditors 2 7 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 5 0 0 0 0 0 0 0 0 Other private 2 3 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 13 13 63 35 34 8 1 1 0

254HAITI



NET TRANSFERS ON DEBT 1 23 24 83 67 63 44 18 -7 -11Public and publicly guaranteed 1 23 24 83 67 63 44 18 -7 -11Official creditors -1 18 24 83 67 63 44 18 -7 -11 Multilateral 0 20 17 84 68 71 55 27 1 -2 Concessional 0 20 17 84 68 71 55 27 1 -2 Bilateral -1 -2 7 0 -1 -8 -10 -9 -9 -9 Concessional -1 -6 7 0 -1 -8 -10 -9 -8 -9Private creditors 1 5 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 4 0 0 0 0 0 0 0 0 Other private 1 2 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 13 10 60 32 30 5 -2 1 0


UNDISBURSED DEBT 5 145 267 351 407 300 310 228 218 203Official creditors 0 128 267 351 407 300 310 228 218 203Private creditors 5 17 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD 29 261 720 842 901 981 1,040 1,039 1,027 1,063 Variable rate LDOD 0 8 7 0 0 0 0 0 0 0 Public sector LDOD 40 282 772 843 902 982 1,041 1,039 1,028 1,063 Private sector LDOD 0 7 0 0 0 0 0 0 0 0



255HAITI




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 81 88 148 -2 132 -13 83 -4 Net flows on debt 1 51 39 100 172 -5 114 24 95 -47 Net change in interest arrears .. .. 8 0 0 0 0 0 3 4 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -1 0 0 0 0 0 0 Cross-currency valuation .. .. 23 -69 -79 -64 0 -32 -14 37 Residual .. .. 11 57 55 67 18 -5 0 2



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


256HONDURAS


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 111 1,473 3,718 4,714 4,851 5,104 5,519 5,570 5,050 5,395Long-term debt (LDOD) 111 1,167 3,487 4,237 4,318 4,455 4,854 4,981 4,501 4,675Public and publicly guaranteed 91 976 3,420 4,021 4,059 4,043 4,311 4,421 3,995 4,211Private nonguaranteed 19 191 66 216 259 412 542 560 506 463Use of IMF credit 0 33 32 58 46 113 210 216 220 197Short-term debt 0 272 199 419 487 537 454 374 329 524of which interest arrears on LDOD 0 0 89 60 62 69 53 35 10 45 Official creditors 0 0 34 36 38 40 20 9 2 34 Private creditors 0 0 55 24 24 29 33 26 8 12Memo: principal arrears on LDOD 0 2 190 185 186 196 149 72 21 74 Official creditors 0 0 63 116 120 115 74 15 0 45 Private creditors 0 2 128 68 66 81 75 56 21 29Memo: export credits 0 0 338 552 468 272 284 331 276 309

TOTAL DEBT FLOWS Disbursements 45 375 457 456 662 488 810 618 402 293Long-term debt 38 346 429 456 662 423 706 596 381 293IMF purchases 6 29 29 0 0 64 104 21 21 0Principal repayments 6 87 211 430 352 337 311 259 249 289Long-term debt 6 87 176 392 343 335 308 254 241 254IMF repurchases 0 0 35 38 9 2 4 5 7 35Net flows on debt 38 296 129 65 377 193 432 296 134 163of which short-term debt 0 8 -117 39 67 43 -66 -63 -20 159Interest payments (INT) 4 120 178 186 204 216 186 131 94 108Long-term debt 4 83 157 164 180 190 159 107 75 95IMF charges 0 1 6 2 0 0 3 4 4 2Short-term debt 0 36 15 20 23 26 24 20 16 11Net transfers on debt 35 176 -49 -121 174 -23 246 165 39 55Total debt service paid (TDS) 10 207 389 616 555 553 497 390 343 397Long-term debt 10 170 333 556 523 525 467 361 316 349IMF repurchases and charges 0 1 41 40 9 2 7 9 11 37Short-term debt (interest only) 0 36 15 20 23 26 24 20 16 11


NET RESOURCE FLOWS 41 284 506 252 519 353 935 810 531 312Net flow of long-term debt (ex. IMF) 32 259 252 64 319 88 398 342 140 39Foreign direct investment (net) 8 6 44 91 122 99 237 282 195 143Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 0 19 211 97 78 166 299 186 197 130Memo: technical coop. grants 6 18 93 80 76 69 73 123 226 126 official net resource flows 27 147 431 91 395 145 574 508 406 212 private net resource flows 14 137 75 161 124 208 361 302 126 100

NET TRANSFERS 37 123 278 21 269 93 732 634 381 132Interest on long-term debt 4 83 157 164 180 190 159 107 75 95Profit remittances on FDI 0 78 72 67 70 70 44 70 75 85Memo: official net transfers 25 116 282 -54 253 -7 449 433 356 135 private net transfers 13 7 -4 75 15 100 283 201 25 -3


Gross national income (GNI) 700 2,429 2,848 3,822 4,499 5,053 5,260 6,066 6,250 6,395Exports of goods, serv. & inc. (XGS) .. 967 1,103 2,111 2,421 2,705 2,631 3,010 3,051 3,223Worker remit. & comp. of employees 0 2 63 157 190 225 328 416 540 712Imports of goods & services (MGS) .. 1,306 1,384 2,546 2,793 3,081 3,248 3,524 3,668 3,645International reserves (RES) 20 159 47 257 587 824 1,264 1,319 1,421 1,531Current account balance .. -317 -51 -335 -272 -148 -241 -276 -330 -266

4. DEBT INDICATORS


257HONDURAS


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 111 1,167 3,487 4,237 4,318 4,455 4,854 4,981 4,501 4,675Public and publicly guaranteed 91 976 3,420 4,021 4,059 4,043 4,311 4,421 3,995 4,211Official creditors 88 697 2,978 3,697 3,817 3,879 4,174 4,313 3,903 4,099 Multilateral 63 459 1,581 2,109 2,315 2,381 2,614 2,732 2,536 2,673 Concessional 30 202 536 1,186 1,295 1,409 1,737 1,766 1,898 2,073 Bilateral 24 238 1,396 1,588 1,502 1,498 1,560 1,581 1,366 1,426 Concessional 24 120 855 1,180 1,114 1,142 1,181 1,164 1,024 1,109Private creditors 4 280 442 324 242 164 138 107 92 112 Bonds 0 0 0 126 62 0 0 0 0 0 Commercial banks 0 205 204 110 94 92 84 71 59 80 Other private 4 75 238 88 86 72 54 36 33 32Private nonguaranteed 19 191 66 216 259 412 542 560 506 463 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 19 191 66 216 259 412 542 560 506 463Memo: IBRD 30 152 558 350 275 235 185 151 127 105 IDA 15 64 77 424 496 579 841 838 901 1,014



NET FLOWS ON DEBT 32 259 252 64 319 88 398 342 140 39Public and publicly guaranteed 26 226 270 -29 276 -64 267 325 194 82Official creditors 27 128 220 -6 317 -21 274 322 209 82 Multilateral 20 92 53 20 341 21 228 286 176 64 Concessional 9 35 38 160 113 91 325 91 201 106 Bilateral 7 36 168 -26 -24 -42 47 36 33 18 Concessional 7 11 86 -4 15 -11 8 24 25 21Private creditors -1 98 49 -23 -41 -43 -7 3 -15 0 Bonds 0 0 0 -13 -30 -32 0 0 0 0 Commercial banks 0 46 18 -2 2 0 -6 0 -15 0 Other private -1 52 32 -8 -13 -11 -1 3 0 0Private nonguaranteed 7 33 -18 93 43 153 131 18 -54 -43 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 7 33 -18 93 43 153 131 18 -54 -43Memo: IBRD 9 20 -12 -59 -50 -48 -47 -27 -5 -10 IDA 2 17 -2 50 93 62 271 36 94 46

258HONDURAS



NET TRANSFERS ON DEBT 29 176 95 -100 139 -102 239 235 65 -56Public and publicly guaranteed 23 168 114 -187 116 -232 141 249 143 5Official creditors 25 97 71 -151 176 -173 149 246 159 5 Multilateral 18 68 -89 -77 259 -71 137 219 132 7 Concessional 9 31 27 145 97 73 306 70 187 89 Bilateral 7 29 159 -73 -84 -102 12 27 28 -1 Concessional 7 9 85 -34 -17 -40 -12 19 23 6Private creditors -1 71 43 -37 -59 -59 -9 2 -16 0 Bonds 0 0 0 -20 -38 -41 0 0 0 0 Commercial banks 0 20 13 -6 -2 -2 -7 0 -16 0 Other private -1 51 31 -11 -20 -16 -2 3 0 0Private nonguaranteed 6 8 -19 87 23 130 98 -14 -78 -61 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 6 8 -19 87 23 130 98 -14 -78 -61Memo: IBRD 8 8 -108 -89 -73 -68 -65 -42 -18 -20 IDA 2 17 -3 47 90 58 266 30 88 39


UNDISBURSED DEBT 54 729 664 802 555 645 678 661 789 788Official creditors 54 716 654 793 545 637 669 657 788 788Private creditors 0 13 10 9 10 8 9 5 1 0Memorandum items Concessional LDOD 54 321 1,390 2,365 2,409 2,551 2,918 2,930 2,922 3,183 Variable rate LDOD 19 400 753 790 775 882 1,030 1,032 914 847 Public sector LDOD 91 841 3,313 3,998 4,037 4,022 4,291 4,401 3,993 4,210 Private sector LDOD 19 327 173 239 281 433 563 580 507 464



259HONDURAS




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 332 -77 137 253 415 52 -520 345 Net flows on debt 38 296 129 65 377 193 432 296 134 163 Net change in interest arrears .. .. -83 -2 2 7 -16 -18 -25 35 Interest capitalized .. .. 140 21 3 0 45 47 46 6 Debt forgiveness or reduction .. .. -51 -2 -1 -28 -32 -14 -52 -31 Cross-currency valuation .. .. 48 -334 -244 -110 -39 -142 -124 174 Residual .. .. 148 174 -1 191 24 -117 -499 -2

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.1 6.8 6.5 2.7 6.3 2.0 1.2 5.1 1.6 1.8 Maturity (years) 29.6 23.6 21.2 32.2 14.4 33.9 34.5 30.9 37.1 39.4 Grace period (years) 6.8 6.7 5.9 8.3 2.9 8.4 9.8 19.1 9.4 10.4 Grant element (%) 45.5 26.9 26.5 57.7 22.4 63.7 73.3 42.3 71.5 71.3Official creditors Interest (%) 4.1 5.9 6.1 2.7 6.3 2.0 1.2 5.1 1.6 1.8 Maturity (years) 29.6 25.2 22.7 32.2 14.2 33.9 34.8 30.9 37.1 39.4 Grace period (years) 6.8 7.1 6.5 8.3 2.8 8.4 9.9 19.1 9.4 10.4 Grant element (%) 45.5 31.5 29.3 57.7 22.0 63.7 74.0 42.3 71.5 71.3Private creditors Interest (%) 0.0 16.0 9.9 0.0 3.6 0.0 6.6 3.6 0.0 0.0 Maturity (years) 0.0 6.7 7.1 0.0 25.5 0.0 8.1 7.5 0.0 0.0 Grace period (years) 0.0 2.5 0.6 0.0 5.0 0.0 1.1 3.0 0.0 0.0 Grant element (%) 0.0 -22.3 -0.8 0.0 45.8 0.0 10.9 24.4 0.0 0.0Memorandum items Commitments 23 495 452 420 449 339 497 422 419 138 Official creditors 23 452 410 420 441 339 492 422 419 138 Private creditors 0 43 42 0 8 0 6 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


260HUNGARY


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 21,201 27,259 24,561 28,473 29,874 29,520 30,305 34,958Long-term debt (LDOD) .. .. 17,931 23,730 21,044 23,693 26,331 25,368 25,682 29,289Public and publicly guaranteed .. .. 17,931 18,724 15,129 15,904 16,869 14,355 12,697 13,551Private nonguaranteed .. .. 0 5,005 5,915 7,789 9,462 11,014 12,985 15,738Use of IMF credit .. .. 330 171 160 0 0 0 0 0Short-term debt .. .. 2,941 3,359 3,357 4,780 3,543 4,152 4,623 5,668of which interest arrears on LDOD .. .. 0 0 0 0 0 0 0 0 Official creditors .. .. 0 0 0 0 0 0 0 0 Private creditors .. .. 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. 0 0 0 0 0 0 0 0 Official creditors .. .. 0 0 0 0 0 0 0 0 Private creditors .. .. 0 0 0 0 0 0 0 0Memo: export credits .. .. 1,424 1,947 1,840 1,043 714 417 340 379

TOTAL DEBT FLOWS Disbursements .. .. 2,455 4,392 4,629 7,054 9,233 6,283 13,455 13,056Long-term debt .. .. 2,282 4,392 4,629 7,054 9,233 6,283 13,455 13,056IMF purchases .. .. 173 0 0 0 0 0 0 0Principal repayments .. .. 2,546 6,544 5,992 5,759 5,991 6,443 12,275 13,560Long-term debt .. .. 2,216 6,340 5,992 5,598 5,991 6,443 12,275 13,560IMF repurchases .. .. 330 203 0 161 0 0 0 0Net flows on debt .. .. -457 -1,995 -1,365 2,718 2,005 449 1,651 542of which short-term debt .. .. -366 156 -2 1,423 -1,238 609 471 1,046Interest payments (INT) .. .. 1,678 1,815 1,685 1,494 1,448 1,494 1,453 1,310Long-term debt .. .. 1,528 1,618 1,516 1,297 1,303 1,324 1,287 1,180IMF charges .. .. 35 17 8 2 0 0 0 0Short-term debt .. .. 115 180 161 195 145 170 166 130Net transfers on debt .. .. -2,135 -3,811 -3,049 1,224 558 -1,045 197 -768Total debt service paid (TDS) .. .. 4,224 8,359 7,676 7,253 7,438 7,937 13,729 14,870Long-term debt .. .. 3,745 7,958 7,507 6,895 7,293 7,767 13,562 14,740IMF repurchases and charges .. .. 364 221 8 163 0 0 0 0Short-term debt (interest only) .. .. 115 180 161 195 145 170 166 130


NET RESOURCE FLOWS .. .. 380 883 1,949 4,183 6,559 1,266 4,096 336Net flow of long-term debt (ex. IMF) .. .. 66 -1,948 -1,363 1,456 3,243 -160 1,180 -503Foreign direct investment (net) .. .. 311 2,363 2,224 2,084 2,019 1,694 2,595 854Portfolio equity flows .. .. 0 359 1,004 556 1,191 -416 134 -137Grants (excluding technical coop.) .. .. 3 110 84 88 106 147 187 123Memo: technical coop. grants .. .. 0 85 54 79 53 39 35 39 official net resource flows .. .. 527 -576 -8 -849 286 -61 -16 115 private net resource flows .. .. -147 1,460 1,957 5,032 6,273 1,327 4,112 221

NET TRANSFERS .. .. -1,185 -1,015 -24 1,923 4,399 -890 1,978 -1,957Interest on long-term debt .. .. 1,528 1,618 1,516 1,297 1,303 1,324 1,287 1,180Profit remittances on FDI .. .. 37 281 458 963 858 832 830 1,113Memo: official net transfers .. .. 343 -831 -204 -1,000 153 -194 -132 17 private net transfers .. .. -1,528 -184 179 2,924 4,246 -696 2,111 -1,974


Gross national income (GNI) .. .. 31,601 43,709 44,304 45,177 46,414 45,108 50,345 64,263Exports of goods, serv. & inc. (XGS) .. .. 12,315 23,165 26,634 30,705 32,171 35,984 39,917 43,854Worker remit. & comp. of employees .. .. 0 166 213 217 209 274 293 271Imports of goods & services (MGS) .. .. 12,724 24,302 27,503 33,150 34,986 39,149 41,978 46,906International reserves (RES) .. .. 1,185 9,757 8,437 9,348 10,983 11,217 10,755 10,383Current account balance .. .. 379 -1,150 -684 -2,228 -2,446 -2,900 -1,754 -2,644

4. DEBT INDICATORS


261HUNGARY


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 17,931 23,730 21,044 23,693 26,331 25,368 25,682 29,289Public and publicly guaranteed .. .. 17,931 18,724 15,129 15,904 16,869 14,355 12,697 13,551Official creditors .. .. 2,656 3,516 3,135 2,288 2,299 1,948 1,669 1,882 Multilateral .. .. 2,497 2,780 2,473 1,519 1,562 1,424 1,367 1,666 Concessional .. .. 13 0 0 0 0 0 0 0 Bilateral .. .. 160 736 661 769 737 524 302 216 Concessional .. .. 19 461 439 525 478 285 112 95Private creditors .. .. 15,275 15,208 11,994 13,616 14,570 12,407 11,027 11,669 Bonds .. .. 4,645 13,135 10,618 11,977 12,722 10,652 10,079 10,601 Commercial banks .. .. 9,642 1,899 1,258 1,535 1,821 1,741 949 1,068 Other private .. .. 988 174 118 105 28 14 0 0Private nonguaranteed .. .. 0 5,005 5,915 7,789 9,462 11,014 12,985 15,738 Bonds .. .. 0 0 0 90 203 188 184 199 Commercial banks and other .. .. 0 5,005 5,915 7,699 9,259 10,826 12,801 15,539Memo: IBRD .. .. 1,512 1,650 1,520 699 654 582 564 517 IDA .. .. 0 0 0 0 0 0 0 0

DISBURSEMENTS .. .. 2,282 4,392 4,629 7,054 9,233 6,283 13,455 13,056Public and publicly guaranteed .. .. 2,282 1,958 1,151 3,079 3,717 1,115 1,440 693Official creditors .. .. 669 520 344 665 356 135 77 240 Multilateral .. .. 654 367 274 567 282 70 65 238 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 15 153 71 98 74 65 12 2 Concessional .. .. 2 96 40 73 17 34 12 2Private creditors .. .. 1,614 1,438 807 2,414 3,361 980 1,363 453 Bonds .. .. 940 468 424 2,101 2,971 670 1,299 360 Commercial banks .. .. 574 867 326 294 385 310 64 93 Other private .. .. 99 104 57 20 4 0 0 0Private nonguaranteed .. .. 0 2,434 3,478 3,975 5,516 5,168 12,015 12,364 Bonds .. .. 0 0 0 85 133 0 0 0 Commercial banks and other .. .. 0 2,434 3,478 3,889 5,383 5,168 12,015 12,364Memo: IBRD .. .. 268 95 185 369 31 38 12 1 IDA .. .. 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. 2,216 6,340 5,992 5,598 5,991 6,443 12,275 13,560Public and publicly guaranteed .. .. 2,216 4,823 2,985 3,310 2,191 2,512 2,280 1,463Official creditors .. .. 145 1,207 436 1,602 177 343 280 248 Multilateral .. .. 125 931 375 1,546 98 130 80 119 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 19 275 61 56 78 213 200 129 Concessional .. .. 0 7 6 30 45 184 170 36Private creditors .. .. 2,072 3,617 2,549 1,708 2,014 2,169 2,000 1,215 Bonds .. .. 19 1,610 1,616 1,594 1,844 1,847 1,205 1,103 Commercial banks .. .. 1,894 1,860 834 75 90 307 782 112 Other private .. .. 158 147 99 39 80 14 14 0Private nonguaranteed .. .. 0 1,517 3,007 2,288 3,800 3,931 9,995 12,097 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 1,517 3,007 2,288 3,800 3,931 9,995 12,097Memo: IBRD .. .. 108 514 217 1,172 55 95 22 64 IDA .. .. 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. 66 -1,948 -1,363 1,456 3,243 -160 1,180 -503Public and publicly guaranteed .. .. 66 -2,865 -1,834 -231 1,527 -1,397 -840 -770Official creditors .. .. 524 -687 -92 -936 180 -208 -203 -8 Multilateral .. .. 529 -564 -102 -979 184 -60 -15 119 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. -5 -122 10 42 -4 -147 -188 -127 Concessional .. .. 2 89 34 44 -28 -150 -158 -34Private creditors .. .. -458 -2,178 -1,742 705 1,347 -1,189 -637 -762 Bonds .. .. 921 -1,142 -1,192 506 1,127 -1,177 94 -742 Commercial banks .. .. -1,320 -993 -508 219 296 2 -718 -20 Other private .. .. -59 -43 -42 -20 -76 -14 -14 0Private nonguaranteed .. .. 0 917 472 1,687 1,716 1,237 2,020 267 Bonds .. .. 0 0 0 85 133 0 0 0 Commercial banks and other .. .. 0 917 472 1,601 1,583 1,237 2,020 267Memo: IBRD .. .. 160 -419 -33 -802 -24 -57 -10 -63 IDA .. .. 0 0 0 0 0 0 0 0

262HUNGARY


INTEREST PAYMENTS (LINT) .. .. 1,528 1,618 1,516 1,297 1,303 1,324 1,287 1,180Public and publicly guaranteed .. .. 1,528 1,550 1,179 978 1,002 942 846 693Official creditors .. .. 184 255 195 152 133 133 117 98 Multilateral .. .. 175 213 163 123 98 95 92 79 Concessional .. .. 1 0 0 0 0 0 0 0 Bilateral .. .. 9 42 32 29 35 38 25 19 Concessional .. .. 1 17 17 17 22 24 11 10Private creditors .. .. 1,344 1,295 983 826 869 809 729 595 Bonds .. .. 241 1,139 898 761 794 726 639 544 Commercial banks .. .. 1,034 144 76 60 70 82 91 51 Other private .. .. 69 12 9 5 5 2 0 0Private nonguaranteed .. .. 0 68 337 319 300 382 441 487 Bonds .. .. 0 0 0 1 10 18 17 18 Commercial banks and other .. .. 0 68 337 318 290 364 424 470Memo: IBRD .. .. 106 141 102 70 43 42 35 32 IDA .. .. 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT .. .. -1,462 -3,566 -2,878 159 1,940 -1,484 -107 -1,684Public and publicly guaranteed .. .. -1,462 -4,414 -3,013 -1,209 524 -2,339 -1,686 -1,463Official creditors .. .. 340 -941 -287 -1,088 47 -341 -319 -106 Multilateral .. .. 354 -777 -265 -1,101 86 -155 -107 40 Concessional .. .. -1 0 0 0 0 0 0 0 Bilateral .. .. -14 -164 -22 13 -39 -186 -213 -147 Concessional .. .. 1 72 17 27 -50 -174 -169 -44Private creditors .. .. -1,802 -3,473 -2,725 -121 478 -1,998 -1,367 -1,357 Bonds .. .. 681 -2,281 -2,090 -255 333 -1,903 -544 -1,286 Commercial banks .. .. -2,354 -1,136 -584 159 226 -80 -808 -71 Other private .. .. -129 -56 -51 -25 -81 -15 -14 0Private nonguaranteed .. .. 0 848 135 1,368 1,416 855 1,579 -220 Bonds .. .. 0 0 0 84 123 -18 -17 -18 Commercial banks and other .. .. 0 848 135 1,284 1,292 873 1,596 -203Memo: IBRD .. .. 54 -560 -135 -872 -67 -99 -45 -95 IDA .. .. 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. 3,745 7,958 7,507 6,895 7,293 7,767 13,562 14,740Public and publicly guaranteed .. .. 3,745 6,373 4,164 4,288 3,193 3,454 3,126 2,156Official creditors .. .. 329 1,461 632 1,753 310 476 397 346 Multilateral .. .. 300 1,144 539 1,669 196 225 172 198 Concessional .. .. 1 0 0 0 0 0 0 0 Bilateral .. .. 29 317 93 85 114 251 225 148 Concessional .. .. 1 24 22 46 67 208 181 46Private creditors .. .. 3,416 4,911 3,532 2,535 2,883 2,978 2,729 1,810 Bonds .. .. 260 2,749 2,514 2,356 2,638 2,573 1,843 1,647 Commercial banks .. .. 2,928 2,003 910 135 160 390 872 163 Other private .. .. 228 159 108 44 85 15 14 0Private nonguaranteed .. .. 0 1,585 3,344 2,606 4,100 4,313 10,436 12,584 Bonds .. .. 0 0 0 1 10 18 17 18 Commercial banks and other .. .. 0 1,585 3,344 2,606 4,090 4,295 10,419 12,567Memo: IBRD .. .. 214 655 319 1,241 98 137 57 96 IDA .. .. 0 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. 2,945 1,465 1,295 1,256 983 619 596 549Official creditors .. .. 2,050 1,107 987 713 696 407 329 156Private creditors .. .. 895 358 309 543 288 212 267 392Memorandum items Concessional LDOD .. .. 33 461 439 525 478 285 112 95 Variable rate LDOD .. .. 10,833 9,596 9,455 11,467 13,829 15,462 16,352 19,619 Public sector LDOD .. .. 17,931 18,252 14,731 15,275 16,332 13,874 12,261 12,928 Private sector LDOD .. .. 0 5,478 6,313 8,418 9,999 11,495 13,421 16,361



263HUNGARY




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 805 -4,391 -2,699 3,913 1,401 -354 784 4,653 Net flows on debt .. .. -457 -1,995 -1,365 2,718 2,005 449 1,651 542 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 1,113 -1,917 -1,840 1,098 -288 -1,113 -849 1,637 Residual .. .. 149 -479 506 96 -316 310 -18 2,474

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. 8.9 5.3 4.1 5.3 4.8 5.2 5.2 4.0 Maturity (years) .. .. 9.9 8.7 9.2 7.6 7.6 5.8 11.8 5.3 Grace period (years) .. .. 5.1 5.1 5.0 5.8 4.2 4.7 9.5 4.5 Grant element (%) .. .. 5.0 19.5 26.9 19.3 24.6 18.2 29.7 22.2Official creditors Interest (%) .. .. 8.4 6.8 6.0 5.8 4.2 4.8 5.3 5.3 Maturity (years) .. .. 12.3 16.4 14.0 14.3 16.5 11.9 14.1 10.1 Grace period (years) .. .. 5.1 3.5 3.3 3.7 3.6 8.5 4.3 5.9 Grant element (%) .. .. 7.6 17.4 20.4 22.0 33.5 31.2 26.9 24.5Private creditors Interest (%) .. .. 9.4 5.0 3.2 5.3 4.8 5.3 5.2 3.9 Maturity (years) .. .. 7.2 6.9 6.7 6.6 6.7 5.3 11.4 5.0 Grace period (years) .. .. 5.0 5.4 5.8 6.1 4.3 4.4 10.4 4.5 Grant element (%) .. .. 2.0 19.9 30.2 18.9 23.7 17.0 30.2 22.1Memorandum items Commitments .. .. 3,547 1,371 1,209 3,029 3,503 1,010 1,670 550 Official creditors .. .. 1,889 260 406 411 330 86 240 30 Private creditors .. .. 1,658 1,111 804 2,618 3,173 924 1,430 520


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 336 147 48 10 4 3 1 0 0 0Principal 6,507 4,821 4,770 3,467 2,537 1,270 1,333 788 2,397 79Interest 843 692 554 381 279 211 187 149 173 90Official creditors Disbursements 76 45 17 10 4 3 1 0 0 0Principal 147 134 157 179 174 274 144 127 91 63Interest 98 94 88 76 66 58 45 38 28 20 Bilateral creditors Disbursements 28 15 7 3 1 1 0 0 0 0 Principal 22 18 27 23 21 18 17 11 5 5 Interest 8 8 7 7 6 5 5 4 4 4 Multilateral creditors Disbursements 49 31 10 7 2 2 1 0 0 0 Principal 125 115 130 155 153 257 127 116 86 58 Interest 90 86 81 69 60 53 40 33 24 16Private creditors Disbursements 259 102 32 0 0 0 0 0 0 0Principal 6,360 4,687 4,613 3,289 2,364 995 1,189 661 2,306 16Interest 745 598 466 305 213 153 143 111 145 70 Commercial banks Disbursements 168 68 11 0 0 0 0 0 0 0 Principal 158 426 74 53 55 55 16 16 349 16 Interest 47 43 33 31 28 26 24 24 14 5 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 6,202 4,261 4,539 3,236 2,308 940 1,173 645 1,956 0 Interest 698 555 433 274 184 127 119 87 131 66

264INDIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 8,427 20,695 83,628 93,466 94,317 97,637 98,313 99,098 97,516 104,429Long-term debt (LDOD) 8,144 18,447 72,462 85,427 88,606 93,021 94,354 95,636 94,774 99,860Public and publicly guaranteed 8,044 18,111 70,974 78,045 79,398 84,611 86,410 83,156 83,100 88,271Private nonguaranteed 100 336 1,488 7,382 9,208 8,409 7,944 12,480 11,674 11,589Use of IMF credit 0 977 2,623 1,313 664 288 26 0 0 0Short-term debt 283 1,271 8,544 6,726 5,046 4,329 3,933 3,462 2,742 4,569of which interest arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: export credits 0 0 5,998 7,820 7,861 3,133 3,079 3,245 3,041 2,976

TOTAL DEBT FLOWS Disbursements 930 3,492 8,344 6,682 7,619 10,730 5,619 10,527 4,273 6,634Long-term debt 930 2,469 6,590 6,682 7,619 10,730 5,619 10,527 4,273 6,634IMF purchases 0 1,023 1,754 0 0 0 0 0 0 0Principal repayments 549 781 3,376 7,616 7,549 6,964 6,324 6,686 5,478 9,344Long-term debt 344 772 2,650 6,644 6,936 6,574 6,063 6,661 5,478 9,344IMF repurchases 205 9 726 972 613 390 262 25 0 0Net flows on debt 381 3,283 6,011 743 -1,610 3,049 -1,101 3,371 -1,924 -883of which short-term debt 0 573 1,043 1,677 -1,680 -717 -396 -471 -720 1,827Interest payments (INT) 198 645 4,811 4,364 4,864 5,120 3,782 4,182 3,849 3,784Long-term debt 198 506 3,778 4,009 4,465 4,769 3,566 3,996 3,737 3,638IMF charges 0 4 134 87 50 25 7 1 0 0Short-term debt 0 134 899 268 349 327 209 185 112 146Net transfers on debt 183 2,639 1,200 -3,621 -6,474 -2,072 -4,883 -811 -5,773 -4,667Total debt service paid (TDS) 747 1,426 8,187 11,981 12,413 12,084 10,107 10,868 9,327 13,128Long-term debt 542 1,278 6,429 10,653 11,401 11,342 9,628 10,657 9,215 12,982IMF repurchases and charges 205 14 859 1,059 663 415 269 26 0 0Short-term debt (interest only) 0 134 899 268 349 327 209 185 112 146


NET RESOURCE FLOWS 779 2,425 4,689 7,011 7,365 6,679 4,517 9,763 5,724 1,989Net flow of long-term debt (ex. IMF) 586 1,697 3,940 38 683 4,156 -443 3,867 -1,204 -2,710Foreign direct investment (net) 46 79 237 2,426 3,577 2,635 2,169 2,657 4,334 3,030Portfolio equity flows 0 0 0 3,958 2,556 -601 2,317 2,774 2,041 967Grants (excluding technical coop.) 147 649 512 589 549 490 475 466 554 702Memo: technical coop. grants 46 151 341 409 333 313 297 309 336 351 official net resource flows 746 1,557 2,846 773 144 1,470 1,542 229 919 -2,955 private net resource flows 34 868 1,842 6,239 7,222 5,209 2,975 9,534 4,806 4,944

NET TRANSFERS 581 1,907 886 2,554 2,310 1,162 338 3,853 -661 -3,949Interest on long-term debt 198 506 3,778 4,009 4,465 4,769 3,566 3,996 3,737 3,638Profit remittances on FDI 0 12 24 448 590 748 614 1,914 2,648 2,300Memo: official net transfers 576 1,206 1,350 -907 -1,456 -85 1 -1,193 -378 -4,212 private net transfers 5 701 -464 3,461 3,766 1,247 336 5,046 -283 263


Gross national income (GNI) 60,061 182,201 312,732 381,727 406,121 410,255 443,428 456,805 478,785 504,461Exports of goods, serv. & inc. (XGS) .. 15,088 25,699 50,840 56,593 57,025 64,308 75,589 77,221 88,217Worker remit. & comp. of employees 0 2,757 2,384 8,766 10,331 9,479 11,124 8,482 8,245 8,411Imports of goods & services (MGS) .. 17,451 33,220 59,627 63,175 64,810 68,457 83,212 79,946 90,033International reserves (RES) 1,023 12,010 5,637 24,889 28,385 30,647 36,005 41,059 49,051 71,608Current account balance .. -1,785 -7,036 -5,956 -2,965 -6,903 -3,228 -2,640 1,761 4,656

4. DEBT INDICATORS


265INDIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 8,144 18,447 72,462 85,427 88,606 93,021 94,354 95,636 94,774 99,860Public and publicly guaranteed 8,044 18,111 70,974 78,045 79,398 84,611 86,410 83,156 83,100 88,271Official creditors 7,714 16,450 48,337 54,541 52,165 53,654 58,545 50,626 49,795 49,947 Multilateral 1,562 6,070 21,768 29,332 29,391 30,516 31,360 30,463 31,054 29,497 Concessional 1,065 5,244 13,657 17,939 18,230 18,875 19,332 19,168 19,742 21,328 Bilateral 6,153 10,379 26,569 25,209 22,775 23,138 27,184 20,163 18,741 20,451 Concessional 5,658 10,115 25,006 22,903 20,607 21,272 25,350 18,341 17,083 18,796Private creditors 330 1,661 22,637 23,505 27,233 30,957 27,865 32,530 33,305 38,324 Bonds 2 2 2,613 1,364 1,948 5,996 5,722 10,215 10,101 10,049 Commercial banks 45 1,498 16,130 16,061 20,216 20,924 18,514 21,182 22,515 27,701 Other private 283 161 3,894 6,080 5,068 4,037 3,630 1,133 690 573Private nonguaranteed 100 336 1,488 7,382 9,208 8,409 7,944 12,480 11,674 11,589 Bonds 0 0 0 2,433 3,802 3,646 2,874 1,515 1,313 1,183 Commercial banks and other 100 336 1,488 4,949 5,406 4,763 5,070 10,965 10,361 10,406Memo: IBRD 496 827 7,685 8,768 8,138 7,990 7,816 7,080 7,010 5,082 IDA 1,065 5,142 13,312 17,616 17,912 18,562 18,930 18,888 19,458 21,011

DISBURSEMENTS 930 2,469 6,590 6,682 7,619 10,730 5,619 10,527 4,273 6,634Public and publicly guaranteed 905 2,184 6,376 5,897 5,733 10,230 5,319 10,227 3,973 6,094Official creditors 864 1,511 3,572 3,040 3,708 4,464 3,879 3,242 3,606 2,920 Multilateral 100 863 2,210 2,234 2,021 2,040 2,089 2,371 2,462 1,947 Concessional 60 689 785 924 856 885 929 1,075 1,214 901 Bilateral 764 648 1,361 806 1,687 2,423 1,790 871 1,144 973 Concessional 710 540 1,129 680 1,445 1,887 1,484 681 1,000 850Private creditors 41 673 2,804 2,857 2,025 5,766 1,441 6,985 367 3,173 Bonds 0 0 427 275 650 4,234 0 5,512 0 0 Commercial banks 16 639 1,983 1,698 903 931 845 875 319 3,173 Other private 25 33 395 884 472 601 596 598 48 1Private nonguaranteed 25 285 214 785 1,886 500 300 300 300 540 Bonds 0 0 0 785 1,371 300 0 0 0 240 Commercial banks and other 25 285 214 0 515 200 300 300 300 300Memo: IBRD 41 174 1,219 686 542 535 644 706 803 647 IDA 60 652 762 906 830 866 816 1,054 1,195 886

PRINCIPAL REPAYMENTS 344 772 2,650 6,644 6,936 6,574 6,063 6,661 5,478 9,344Public and publicly guaranteed 319 681 2,332 6,404 6,644 6,282 5,155 6,412 5,209 8,724Official creditors 266 603 1,237 2,856 4,114 3,483 2,811 3,479 3,241 6,577 Multilateral 40 86 609 1,218 1,217 1,295 1,403 1,740 1,423 5,267 Concessional 0 15 128 252 274 313 351 387 441 468 Bilateral 226 517 629 1,638 2,897 2,188 1,409 1,739 1,819 1,310 Concessional 167 488 558 1,459 2,654 1,924 1,165 1,413 1,504 1,009Private creditors 53 78 1,094 3,548 2,530 2,799 2,344 2,933 1,968 2,147 Bonds 0 0 280 1,242 2 264 361 0 86 142 Commercial banks 10 34 250 1,484 1,159 837 976 2,711 1,403 1,860 Other private 43 44 564 822 1,369 1,698 1,008 222 479 145Private nonguaranteed 25 91 318 240 293 292 907 249 269 620 Bonds 0 0 0 0 150 149 765 35 45 370 Commercial banks and other 25 91 318 240 143 143 143 214 224 250Memo: IBRD 40 71 472 840 820 842 899 994 724 3,031 IDA 0 15 114 234 250 288 330 367 429 456

NET FLOWS ON DEBT 586 1,697 3,940 38 683 4,156 -443 3,867 -1,204 -2,710Public and publicly guaranteed 586 1,503 4,044 -506 -911 3,947 164 3,815 -1,236 -2,630Official creditors 598 908 2,334 184 -406 980 1,067 -237 365 -3,657 Multilateral 60 777 1,602 1,016 804 745 687 631 1,040 -3,320 Concessional 60 674 657 672 583 572 578 689 773 434 Bilateral 538 131 732 -832 -1,210 235 381 -868 -675 -337 Concessional 543 51 572 -779 -1,209 -37 319 -732 -504 -159Private creditors -12 595 1,710 -691 -505 2,967 -903 4,052 -1,601 1,027 Bonds 0 0 147 -967 648 3,970 -361 5,512 -86 -142 Commercial banks 6 605 1,733 214 -256 94 -131 -1,836 -1,084 1,313 Other private -18 -10 -170 62 -897 -1,097 -412 376 -431 -144Private nonguaranteed 0 194 -104 545 1,594 208 -607 51 31 -80 Bonds 0 0 0 785 1,221 151 -765 -35 -45 -130 Commercial banks and other 0 194 -104 -240 373 58 158 86 76 50Memo: IBRD 1 103 747 -154 -278 -307 -254 -288 79 -2,383 IDA 60 637 648 672 580 578 486 688 766 430

266INDIA


INTEREST PAYMENTS (LINT) 198 506 3,778 4,009 4,465 4,769 3,566 3,996 3,737 3,638Public and publicly guaranteed 192 476 3,643 3,583 4,292 4,302 3,064 3,338 3,395 3,472Official creditors 170 351 1,497 1,680 1,600 1,555 1,541 1,422 1,296 1,257 Multilateral 34 101 738 966 907 887 875 835 773 738 Concessional 7 35 100 135 136 139 143 142 145 151 Bilateral 136 250 759 714 693 668 666 588 523 520 Concessional 110 236 634 614 539 522 524 469 433 416Private creditors 22 125 2,147 1,904 2,692 2,747 1,523 1,916 2,098 2,214 Bonds 0 0 180 572 99 118 229 143 342 337 Commercial banks 3 113 1,751 886 2,212 2,297 1,030 1,712 1,706 1,858 Other private 19 12 216 445 381 332 264 62 51 19Private nonguaranteed 6 30 135 426 173 467 502 658 342 166 Bonds 0 0 0 88 154 265 243 224 213 164 Commercial banks and other 6 30 135 338 19 202 259 434 129 2Memo: IBRD 27 66 615 674 590 536 491 429 367 341 IDA 7 35 97 130 131 135 139 139 141 148

NET TRANSFERS ON DEBT 388 1,191 161 -3,971 -3,782 -613 -4,009 -130 -4,941 -6,348Public and publicly guaranteed 394 1,027 401 -4,090 -5,203 -354 -2,900 477 -4,631 -6,102Official creditors 429 557 837 -1,495 -2,005 -575 -474 -1,659 -931 -4,914 Multilateral 26 676 864 50 -103 -142 -188 -204 267 -4,058 Concessional 52 639 557 537 447 433 435 546 628 282 Bilateral 402 -119 -27 -1,546 -1,903 -433 -285 -1,455 -1,198 -857 Concessional 433 -185 -63 -1,393 -1,748 -559 -204 -1,201 -937 -574Private creditors -34 470 -437 -2,594 -3,197 221 -2,426 2,136 -3,699 -1,187 Bonds 0 0 -33 -1,540 549 3,853 -589 5,369 -428 -479 Commercial banks 3 492 -18 -671 -2,468 -2,204 -1,161 -3,547 -2,789 -545 Other private -37 -22 -385 -383 -1,278 -1,428 -676 314 -482 -163Private nonguaranteed -6 164 -239 119 1,420 -259 -1,110 -606 -311 -246 Bonds 0 0 0 697 1,067 -114 -1,008 -259 -258 -294 Commercial banks and other -6 164 -239 -578 353 -144 -102 -347 -52 48Memo: IBRD -26 37 132 -828 -868 -843 -745 -716 -288 -2,724 IDA 52 602 551 541 449 444 347 549 625 282

DEBT SERVICE (LTDS) 542 1,278 6,429 10,653 11,401 11,342 9,628 10,657 9,215 12,982Public and publicly guaranteed 511 1,157 5,975 9,987 10,935 10,584 8,219 9,751 8,604 12,195Official creditors 436 954 2,734 4,535 5,713 5,038 4,352 4,901 4,538 7,835 Multilateral 74 187 1,347 2,184 2,123 2,182 2,277 2,574 2,196 6,005 Concessional 7 50 229 387 410 452 494 529 586 619 Bilateral 361 767 1,388 2,352 3,590 2,856 2,075 2,326 2,342 1,830 Concessional 277 724 1,192 2,073 3,193 2,446 1,689 1,882 1,937 1,425Private creditors 75 203 3,241 5,452 5,222 5,545 3,866 4,850 4,066 4,361 Bonds 0 0 460 1,815 101 382 589 143 428 479 Commercial banks 12 147 2,001 2,370 3,371 3,134 2,006 4,423 3,109 3,718 Other private 63 56 780 1,267 1,750 2,029 1,271 284 530 164Private nonguaranteed 31 121 453 666 466 759 1,410 906 611 786 Bonds 0 0 0 88 304 414 1,008 259 258 534 Commercial banks and other 31 121 453 578 162 344 402 647 352 252Memo: IBRD 67 137 1,087 1,514 1,410 1,378 1,389 1,423 1,091 3,372 IDA 7 50 211 364 381 423 469 506 570 604

UNDISBURSED DEBT 1,893 8,599 26,464 22,626 23,445 25,139 22,639 16,333 16,631 15,848Official creditors 1,730 7,695 22,840 18,677 17,830 15,434 13,853 15,161 15,626 15,471Private creditors 162 904 3,623 3,950 5,615 9,705 8,786 1,172 1,005 377Memorandum items Concessional LDOD 6,723 15,359 38,662 40,841 38,837 40,147 44,682 37,509 36,825 40,124 Variable rate LDOD 100 790 12,169 22,841 24,565 24,761 24,934 30,239 28,062 23,664 Public sector LDOD 7,720 17,697 70,436 77,395 78,853 84,087 85,914 82,680 82,634 87,860 Private sector LDOD 425 750 2,026 8,033 9,753 8,933 8,440 12,956 12,140 12,000



267INDIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 8,222 -998 850 3,320 676 785 -1,582 6,913 Net flows on debt 381 3,283 6,011 743 -1,610 3,049 -1,101 3,371 -1,924 -883 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. -849 -7,450 -4,891 -1,495 250 -4,756 -1,708 3,545 Residual .. .. 3,059 5,710 7,351 1,767 1,527 2,170 2,050 4,251

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 2.5 5.4 5.4 4.6 5.1 3.2 3.9 4.7 3.6 2.2 Maturity (years) 34.0 32.5 21.9 19.3 19.5 9.8 23.2 11.4 23.6 23.3 Grace period (years) 8.2 7.2 7.9 6.7 6.4 5.6 6.4 5.3 6.6 6.9 Grant element (%) 28.6 11.2 24.6 22.3 21.1 31.2 43.4 25.4 45.5 55.0Official creditors Interest (%) 2.2 2.5 3.9 3.8 3.7 3.6 3.7 5.5 3.6 2.2 Maturity (years) 35.4 40.0 28.7 28.1 27.1 25.9 26.7 24.0 24.4 25.1 Grace period (years) 8.5 8.3 8.4 8.2 7.9 7.4 7.2 6.6 6.7 7.1 Grant element (%) 30.5 14.0 30.4 26.8 26.2 49.6 49.1 33.5 46.8 57.8Private creditors Interest (%) 6.3 14.0 6.8 5.8 6.7 3.2 4.8 4.3 5.4 2.8 Maturity (years) 12.9 10.7 15.0 7.3 10.4 6.3 3.4 5.0 3.7 5.0 Grace period (years) 4.5 4.0 7.3 4.6 4.7 5.1 2.4 4.7 3.7 4.7 Grant element (%) 0.0 2.9 18.9 16.2 15.0 27.2 11.1 21.2 13.8 27.0Memorandum items Commitments 983 5,476 8,698 8,435 7,938 11,847 2,557 10,692 5,366 3,226 Official creditors 921 4,064 4,340 4,858 4,322 2,111 2,175 3,636 5,166 2,930 Private creditors 62 1,413 4,358 3,577 3,616 9,736 382 7,056 200 297


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 4,680 3,541 2,472 1,853 1,265 847 539 282 189 89Principal 10,547 6,070 10,921 5,394 6,027 4,405 3,382 3,211 3,204 3,159Interest 3,809 3,528 3,713 3,222 3,125 3,022 2,927 2,831 2,741 2,651Official creditors Disbursements 4,448 3,441 2,441 1,841 1,263 846 539 282 189 89Principal 2,877 2,932 2,845 3,105 3,178 3,148 3,136 3,082 3,094 3,092Interest 1,021 1,015 1,002 991 944 899 828 756 684 612 Bilateral creditors Disbursements 2,578 1,538 646 310 100 50 22 9 7 1 Principal 1,498 1,537 1,422 1,556 1,535 1,481 1,457 1,386 1,369 1,340 Interest 546 557 548 519 479 438 399 359 322 285 Multilateral creditors Disbursements 1,870 1,903 1,796 1,531 1,163 795 518 273 182 88 Principal 1,379 1,394 1,423 1,548 1,643 1,667 1,679 1,696 1,725 1,752 Interest 475 458 454 472 465 461 429 396 362 327Private creditors Disbursements 232 100 31 11 2 1 0 0 0 0Principal 7,671 3,139 8,076 2,289 2,849 1,258 246 129 110 67Interest 2,788 2,513 2,711 2,231 2,181 2,124 2,099 2,075 2,057 2,039 Commercial banks Disbursements 227 100 31 11 2 1 0 0 0 0 Principal 1,390 913 445 381 445 141 206 89 70 28 Interest 2,006 1,972 1,955 1,944 1,934 1,922 1,912 1,903 1,900 1,897 Other private Disbursements 5 0 0 0 0 0 0 0 0 0 Principal 6,281 2,225 7,631 1,908 2,404 1,117 40 40 40 39 Interest 782 541 755 287 247 201 186 172 157 142

268INDONESIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 4,528 20,938 69,872 128,937 136,161 151,236 151,201 144,407 134,044 132,208Long-term debt (LDOD) 4,043 18,163 58,242 96,706 100,326 122,033 120,923 110,934 103,123 100,037Public and publicly guaranteed 3,582 15,021 47,982 60,012 55,857 67,305 73,658 69,765 68,717 70,011Private nonguaranteed 461 3,142 10,261 36,694 44,469 54,728 47,265 41,169 34,405 30,026Use of IMF credit 138 0 494 0 2,970 9,090 10,248 10,838 9,113 8,861Short-term debt 346 2,775 11,135 32,230 32,865 20,113 20,029 22,635 21,808 23,309of which interest arrears on LDOD 7 0 0 0 0 0 3,500 4,635 5,635 6,409 Official creditors 7 0 0 0 0 0 0 8 8 8 Private creditors 0 0 0 0 0 0 3,500 4,627 5,627 6,401Memo: principal arrears on LDOD 66 0 1 0 0 2,710 3,000 3,000 3,000 3,000 Official creditors 54 0 1 0 0 0 0 0 0 0 Private creditors 11 0 0 0 0 2,710 3,000 3,000 3,000 3,000Memo: export credits 0 0 10,032 19,191 20,926 9,440 9,988 10,596 10,876 11,532

TOTAL DEBT FLOWS Disbursements 674 3,246 10,024 20,973 22,454 16,392 9,460 7,165 4,683 5,200Long-term debt 636 3,246 10,024 20,973 19,425 10,619 8,078 6,043 4,289 3,774IMF purchases 38 0 0 0 3,029 5,772 1,382 1,123 394 1,426Principal repayments 123 1,632 5,969 14,896 13,010 11,202 11,711 9,296 9,633 12,925Long-term debt 120 1,632 5,812 14,896 13,010 11,202 11,711 9,296 7,881 10,548IMF repurchases 3 0 157 0 0 0 0 0 1,752 2,376Net flows on debt 551 2,280 7,216 12,341 10,078 -4,561 -3,834 -659 -5,977 -6,998of which short-term debt 0 667 3,160 6,264 635 -9,750 -1,584 1,471 -1,028 727Interest payments (INT) 46 1,452 3,978 6,647 6,726 7,107 5,954 7,385 5,900 4,046Long-term debt 46 1,182 3,413 5,114 5,116 5,601 4,599 5,702 4,566 3,183IMF charges 0 0 59 0 0 182 366 526 470 263Short-term debt 0 270 506 1,533 1,610 1,324 989 1,157 863 600Net transfers on debt 506 828 3,238 5,694 3,352 -11,668 -9,788 -8,044 -11,675 -11,044Total debt service paid (TDS) 169 3,084 9,946 21,543 19,737 18,310 17,665 16,681 15,532 16,971Long-term debt 165 2,814 9,224 20,010 18,126 16,804 16,310 14,998 12,447 13,732IMF repurchases and charges 3 0 216 0 0 182 366 526 2,222 2,639Short-term debt (interest only) 0 270 506 1,533 1,610 1,324 989 1,157 863 600


NET RESOURCE FLOWS 686 1,902 5,589 14,280 6,314 -5,031 -6,733 -8,453 -6,167 -7,114Net flow of long-term debt (ex. IMF) 517 1,613 4,213 6,077 6,414 -583 -3,633 -3,254 -3,592 -6,774Foreign direct investment (net) 83 180 1,093 6,194 4,677 -356 -2,745 -4,550 -3,278 -1,513Portfolio equity flows 0 0 0 1,819 -4,987 -4,371 -782 -1,020 443 877Grants (excluding technical coop.) 87 109 283 190 210 279 427 371 261 297Memo: technical coop. grants 26 187 401 412 373 316 339 422 406 467 official net resource flows 441 915 2,666 -602 744 2,975 3,856 2,179 866 -148 private net resource flows 245 987 2,923 14,882 5,570 -8,006 -10,589 -10,632 -7,033 -6,966

NET TRANSFERS 641 720 -16 8,202 -143 -11,777 -12,650 -16,194 -11,903 -10,440Interest on long-term debt 46 1,182 3,413 5,114 5,116 5,601 4,599 5,702 4,566 3,183Profit remittances on FDI 0 0 2,192 964 1,341 1,145 1,318 2,039 1,171 142Memo: official net transfers 421 603 1,081 -3,008 -1,351 925 1,394 -426 -1,798 -1,997 private net transfers 220 117 -1,097 11,210 1,208 -12,702 -14,044 -15,768 -10,106 -8,443


Gross national income (GNI) 9,698 74,806 109,209 221,276 209,440 90,063 129,338 139,253 135,594 164,554Exports of goods, serv. & inc. (XGS) .. .. 29,870 58,793 65,819 57,719 58,841 74,265 65,914 67,924Worker remit. & comp. of employees 0 0 166 796 725 959 1,109 1,190 1,046 1,259Imports of goods & services (MGS) .. .. 33,110 66,597 71,017 54,002 53,861 66,906 59,489 60,966International reserves (RES) 160 6,803 8,657 19,396 17,487 23,606 27,345 29,353 28,104 32,032Current account balance .. .. -2,988 -7,663 -4,889 4,096 5,785 7,985 6,899 7,450

4. DEBT INDICATORS

EDT / XGS (%) .. .. 233.9 219.3 206.9 262.0 257.0 194.4 203.4 194.6EDT / GNI (%) 46.7 28.0 64.0 58.3 65.0 167.9 116.9 103.7 98.9 80.3TDS / XGS (%) .. .. 33.3 36.6 30.0 31.7 30.0 22.5 23.6 25.0INT / XGS (%) .. .. 13.3 11.3 10.2 12.3 10.1 9.9 9.0 6.0INT / GNI (%) 0.5 1.9 3.6 3.0 3.2 7.9 4.6 5.3 4.4 2.5RES / EDT (%) 3.5 32.5 12.4 15.0 12.8 15.6 18.1 20.3 21.0 24.2RES / MGS (months) .. .. 3.1 3.5 3.0 5.2 6.1 5.3 5.7 6.3Short-term / EDT (%) 7.7 13.3 15.9 25.0 24.1 13.3 13.2 15.7 16.3 17.6Concessional / EDT (%) 62.2 36.4 26.4 20.3 17.7 18.4 21.3 21.0 21.0 24.0Multilateral / EDT (%) 0.1 8.8 20.4 13.4 11.6 11.8 13.1 13.8 14.5 14.7

269INDONESIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 4,043 18,163 58,242 96,706 100,326 122,033 120,923 110,934 103,123 100,037Public and publicly guaranteed 3,582 15,021 47,982 60,012 55,857 67,305 73,658 69,765 68,717 70,011Official creditors 3,210 9,563 33,007 46,148 42,523 49,074 56,083 55,107 52,948 56,377 Multilateral 6 1,834 14,285 17,248 15,799 17,892 19,733 19,904 19,372 19,428 Concessional 6 661 1,369 1,663 1,581 1,652 1,672 1,642 1,576 1,699 Bilateral 3,204 7,729 18,722 28,899 26,723 31,181 36,350 35,202 33,576 36,949 Concessional 2,810 6,961 17,088 24,485 22,508 26,164 30,494 28,623 26,554 30,085Private creditors 372 5,458 14,975 13,864 13,334 18,231 17,576 14,658 15,769 13,634 Bonds 0 199 696 1,141 1,191 1,191 971 971 945 779 Commercial banks 2 2,431 8,606 5,996 5,877 10,999 11,781 9,835 11,782 9,967 Other private 371 2,828 5,673 6,728 6,266 6,041 4,824 3,852 3,043 2,888Private nonguaranteed 461 3,142 10,261 36,694 44,469 54,728 47,265 41,169 34,405 30,026 Bonds 0 0 120 6,666 9,661 9,596 8,433 6,337 4,981 4,511 Commercial banks and other 461 3,142 10,141 30,028 34,808 45,132 38,832 34,832 29,424 25,516Memo: IBRD 0 1,040 9,542 11,138 9,991 10,692 11,424 11,715 11,435 10,729 IDA 5 566 842 736 715 694 682 714 722 794

DISBURSEMENTS 636 3,246 10,024 20,973 19,425 10,619 8,078 6,043 4,289 3,774Public and publicly guaranteed 441 2,551 5,009 7,532 6,295 7,405 6,078 3,693 2,289 2,124Official creditors 376 1,130 3,969 3,961 3,958 5,238 5,809 3,424 2,129 1,792 Multilateral 4 431 1,794 1,695 1,586 2,369 2,557 1,750 1,126 1,198 Concessional 4 48 145 103 35 47 48 108 75 111 Bilateral 372 698 2,175 2,266 2,372 2,870 3,252 1,674 1,003 594 Concessional 372 592 1,979 1,841 1,656 2,476 3,136 1,134 981 587Private creditors 66 1,421 1,041 3,571 2,337 2,166 269 268 160 332 Bonds 0 45 0 510 50 0 0 0 0 300 Commercial banks 0 1,013 487 1,784 1,344 1,851 245 262 112 9 Other private 66 363 553 1,277 943 315 24 6 48 23Private nonguaranteed 195 695 5,015 13,441 13,129 3,215 2,000 2,350 2,000 1,650 Bonds 0 0 120 3,531 3,378 500 0 350 0 150 Commercial banks and other 195 695 4,895 9,909 9,751 2,715 2,000 2,000 2,000 1,500Memo: IBRD 0 331 987 905 899 1,212 1,495 1,051 546 332 IDA 3 42 0 0 0 0 11 59 39 87

PRINCIPAL REPAYMENTS 120 1,632 5,812 14,896 13,010 11,202 11,711 9,296 7,881 10,548Public and publicly guaranteed 59 939 4,588 8,128 5,702 4,161 5,473 3,896 3,123 4,320Official creditors 22 324 1,586 4,753 3,424 2,542 2,380 1,616 1,523 2,237 Multilateral 0 38 677 2,980 1,671 989 1,077 1,116 1,174 1,489 Concessional 0 4 24 46 44 51 59 69 65 66 Bilateral 22 286 909 1,774 1,754 1,554 1,303 500 349 748 Concessional 19 184 611 1,211 1,207 1,109 997 334 296 606Private creditors 37 616 3,001 3,374 2,277 1,619 3,093 2,280 1,600 2,083 Bonds 0 5 94 73 0 0 220 0 26 235 Commercial banks 1 190 1,718 2,342 1,380 970 2,580 2,106 1,526 1,727 Other private 37 421 1,190 960 897 649 292 174 48 120Private nonguaranteed 61 693 1,224 6,768 7,309 7,041 6,238 5,400 4,759 6,229 Bonds 0 0 0 225 309 641 1,238 2,400 1,350 621 Commercial banks and other 61 693 1,224 6,543 7,000 6,400 5,000 3,000 3,408 5,608Memo: IBRD 0 31 551 1,408 1,144 733 762 761 826 1,038 IDA 0 1 11 20 20 21 24 26 27 27

NET FLOWS ON DEBT 517 1,613 4,213 6,077 6,414 -583 -3,633 -3,254 -3,592 -6,774Public and publicly guaranteed 383 1,611 422 -595 594 3,243 605 -203 -834 -2,196Official creditors 354 806 2,382 -792 534 2,696 3,429 1,808 606 -445 Multilateral 4 393 1,117 -1,284 -85 1,380 1,479 635 -49 -292 Concessional 4 44 122 57 -9 -4 -11 39 10 45 Bilateral 350 412 1,265 492 619 1,316 1,949 1,174 654 -154 Concessional 353 409 1,368 630 449 1,367 2,139 800 685 -18Private creditors 28 805 -1,961 197 60 547 -2,824 -2,012 -1,440 -1,750 Bonds 0 40 -94 438 50 0 -220 0 -26 65 Commercial banks 0 823 -1,231 -558 -36 881 -2,336 -1,844 -1,414 -1,718 Other private 29 -58 -636 318 46 -334 -268 -168 0 -97Private nonguaranteed 134 2 3,791 6,672 5,821 -3,826 -4,238 -3,050 -2,759 -4,579 Bonds 0 0 120 3,306 3,070 -141 -1,238 -2,050 -1,350 -471 Commercial banks and other 134 2 3,671 3,366 2,751 -3,685 -3,000 -1,000 -1,408 -4,108Memo: IBRD 0 301 436 -503 -245 479 733 290 -280 -706 IDA 3 40 -11 -20 -20 -21 -12 33 12 60

270INDONESIA


INTEREST PAYMENTS (LINT) 46 1,182 3,413 5,114 5,116 5,601 4,599 5,702 4,566 3,183Public and publicly guaranteed 25 824 2,808 3,620 3,215 2,970 3,775 3,767 3,585 2,287Official creditors 20 312 1,585 2,406 2,095 2,051 2,462 2,605 2,664 1,849 Multilateral 0 107 990 1,238 1,020 1,039 1,229 1,383 1,357 1,295 Concessional 0 6 16 29 26 24 24 25 26 21 Bilateral 20 205 595 1,167 1,075 1,012 1,233 1,222 1,307 553 Concessional 18 130 451 807 745 706 828 810 807 332Private creditors 4 512 1,223 1,214 1,120 920 1,313 1,162 921 439 Bonds 0 14 62 76 130 107 133 72 71 32 Commercial banks 0 268 699 687 593 443 857 845 642 351 Other private 4 230 462 451 397 370 323 246 208 56Private nonguaranteed 21 358 605 1,495 1,901 2,631 824 1,935 980 896 Bonds 0 0 0 276 551 877 824 735 546 462 Commercial banks and other 21 358 605 1,218 1,350 1,753 0 1,200 434 434Memo: IBRD 0 89 731 840 704 723 822 950 927 867 IDA 0 4 6 6 5 5 5 5 5 6

NET TRANSFERS ON DEBT 471 431 800 963 1,298 -6,184 -8,232 -8,956 -8,158 -9,958Public and publicly guaranteed 358 787 -2,386 -4,215 -2,621 273 -3,170 -3,970 -4,419 -4,483Official creditors 334 494 798 -3,198 -1,561 645 967 -796 -2,058 -2,294 Multilateral 4 286 128 -2,522 -1,105 341 251 -748 -1,406 -1,587 Concessional 4 37 105 28 -35 -28 -35 15 -16 24 Bilateral 330 207 670 -675 -456 304 716 -48 -653 -707 Concessional 335 278 917 -177 -296 661 1,311 -10 -122 -350Private creditors 24 293 -3,184 -1,017 -1,060 -373 -4,137 -3,174 -2,361 -2,189 Bonds 0 26 -156 362 -80 -107 -353 -72 -97 33 Commercial banks 0 555 -1,930 -1,245 -629 438 -3,193 -2,689 -2,056 -2,069 Other private 24 -288 -1,098 -134 -351 -703 -591 -414 -208 -153Private nonguaranteed 113 -356 3,186 5,178 3,919 -6,457 -5,062 -4,985 -3,739 -5,475 Bonds 0 0 120 3,030 2,518 -1,018 -2,062 -2,785 -1,897 -933 Commercial banks and other 113 -356 3,066 2,148 1,401 -5,439 -3,000 -2,200 -1,842 -4,542Memo: IBRD 0 212 -294 -1,344 -949 -244 -89 -659 -1,207 -1,573 IDA 3 36 -18 -26 -26 -26 -18 28 7 54

DEBT SERVICE (LTDS) 165 2,814 9,224 20,010 18,126 16,804 16,310 14,998 12,447 13,732Public and publicly guaranteed 83 1,763 7,395 11,747 8,916 7,132 9,248 7,663 6,708 6,607Official creditors 42 636 3,171 7,159 5,519 4,593 4,842 4,221 4,187 4,085 Multilateral 0 145 1,667 4,218 2,691 2,028 2,306 2,499 2,531 2,784 Concessional 0 11 40 75 70 75 83 93 91 87 Bilateral 42 491 1,504 2,941 2,828 2,565 2,536 1,722 1,656 1,301 Concessional 37 314 1,062 2,018 1,952 1,815 1,826 1,144 1,103 937Private creditors 42 1,127 4,224 4,588 3,397 2,539 4,406 3,442 2,521 2,522 Bonds 0 19 156 148 130 107 353 72 97 267 Commercial banks 1 458 2,417 3,029 1,973 1,413 3,437 2,951 2,168 2,078 Other private 41 651 1,652 1,411 1,294 1,019 616 420 256 176Private nonguaranteed 82 1,051 1,829 8,263 9,210 9,672 7,062 7,335 5,739 7,125 Bonds 0 0 0 501 860 1,518 2,062 3,135 1,897 1,083 Commercial banks and other 82 1,051 1,829 7,762 8,350 8,153 5,000 4,200 3,842 6,042Memo: IBRD 0 120 1,282 2,249 1,848 1,456 1,584 1,710 1,753 1,905 IDA 0 5 18 26 26 26 29 31 33 33

UNDISBURSED DEBT 514 9,483 20,410 23,702 19,355 16,395 15,530 11,749 9,892 9,101Official creditors 496 7,060 14,369 18,663 15,535 15,439 15,044 10,860 9,139 8,458Private creditors 18 2,422 6,041 5,039 3,821 956 486 889 753 643Memorandum items Concessional LDOD 2,816 7,622 18,457 26,148 24,089 27,816 32,166 30,265 28,130 31,784 Variable rate LDOD 461 5,574 25,978 56,590 63,622 80,893 77,585 71,532 67,649 63,279 Public sector LDOD 3,578 15,021 47,982 60,012 55,857 67,305 73,657 69,664 68,457 69,568 Private sector LDOD 465 3,142 10,261 36,694 44,469 54,728 47,266 41,270 34,666 30,469



271INDONESIA



Total amount rescheduled .. .. 0 0 0 3,891 5,221 2,461 2,768 3,900 Debt stock rescheduled .. .. 0 0 0 3,002 3,300 0 0 1,002 Principal rescheduled .. .. 0 0 0 491 1,477 2,262 2,733 2,441 Official .. .. 0 0 0 302 700 1,534 1,885 1,836 Private .. .. 0 0 0 189 778 727 848 604 Interest rescheduled .. .. 0 0 0 0 0 0 0 675 Official .. .. 0 0 0 0 0 0 0 551 Private .. .. 0 0 0 0 0 0 0 124Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 10,470 4,538 7,224 15,075 -35 -6,794 -10,363 -1,836 Net flows on debt 551 2,280 7,216 12,341 10,078 -4,561 -3,834 -659 -5,977 -6,998 Net change in interest arrears .. .. 0 0 0 0 3,500 1,135 1,000 774 Interest capitalized .. .. 0 0 0 0 0 0 0 675 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 3,078 -5,526 -5,117 3,537 1,760 -4,574 -4,217 4,180 Residual .. .. 176 -2,277 2,263 16,099 -1,461 -2,695 -369 -467

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 2.6 8.1 6.0 5.4 5.6 4.5 3.6 4.2 4.8 3.7 Maturity (years) 34.1 19.8 21.1 19.2 16.2 19.0 17.4 19.0 22.7 21.7 Grace period (years) 9.0 5.6 6.0 6.1 4.8 5.6 5.4 6.7 5.6 5.9 Grant element (%) 59.8 17.7 28.6 30.3 25.2 34.6 39.7 40.9 36.6 41.8Official creditors Interest (%) 2.4 5.4 5.6 4.8 6.3 4.5 3.6 2.7 4.8 2.4 Maturity (years) 35.9 25.6 23.1 23.4 19.5 19.0 17.4 26.0 23.1 25.0 Grace period (years) 9.5 7.3 6.6 6.7 4.9 5.6 5.4 7.9 5.7 5.4 Grant element (%) 62.9 36.4 32.8 37.0 22.7 34.6 39.8 56.9 37.0 51.6Private creditors Interest (%) 6.0 12.0 7.6 6.6 4.9 0.0 4.6 6.7 4.7 7.6 Maturity (years) 8.1 11.4 14.0 11.5 12.4 0.0 14.3 6.9 8.4 11.3 Grace period (years) 2.0 3.3 4.1 5.0 4.6 0.0 4.6 4.6 1.8 7.3 Grant element (%) 14.1 -9.2 14.1 17.9 28.1 0.0 28.6 13.0 19.8 10.3Memorandum items Commitments 520 4,277 6,687 7,796 3,425 7,375 5,250 1,943 1,444 1,896 Official creditors 487 2,524 5,190 5,057 1,816 7,375 5,209 1,236 1,405 1,444 Private creditors 33 1,753 1,497 2,738 1,608 0 41 707 39 453


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 3,707 2,277 1,372 801 454 231 138 52 32 21Principal 15,691 12,828 10,312 8,941 8,045 5,887 5,538 4,922 3,736 4,179Interest 4,901 4,460 3,950 3,414 2,993 2,457 2,114 1,229 1,034 895Official creditors Disbursements 3,167 2,209 1,350 792 454 231 138 52 32 21Principal 4,942 4,498 4,713 4,649 4,477 4,572 4,701 4,255 3,587 3,429Interest 2,239 2,111 1,962 1,788 1,612 1,429 1,244 1,067 915 781 Bilateral creditors Disbursements 1,885 1,330 771 429 205 92 38 2 0 0 Principal 2,847 2,457 2,735 2,713 2,591 2,791 2,983 2,701 2,175 2,116 Interest 1,078 1,055 991 925 852 781 702 624 558 500 Multilateral creditors Disbursements 1,282 879 579 364 249 139 100 51 32 21 Principal 2,094 2,040 1,979 1,936 1,887 1,781 1,718 1,554 1,412 1,313 Interest 1,161 1,057 971 862 761 648 542 443 357 281Private creditors Disbursements 540 68 22 9 0 0 0 0 0 0Principal 10,749 8,330 5,599 4,292 3,567 1,315 837 667 148 750Interest 2,662 2,349 1,988 1,626 1,381 1,028 870 162 119 114 Commercial banks Disbursements 520 58 19 8 0 0 0 0 0 0 Principal 2,074 1,634 1,290 632 113 71 58 53 53 52 Interest 174 119 55 32 21 17 15 14 12 11 Other private Disbursements 20 10 4 1 0 0 0 0 0 0 Principal 8,676 6,697 4,309 3,660 3,454 1,244 778 614 96 698 Interest 2,488 2,231 1,933 1,595 1,360 1,011 855 148 106 103

272IRAN, ISLAMIC REPUBLIC OF


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. 4,500 9,020 16,702 11,845 14,127 9,905 7,981 7,483 9,154Long-term debt (LDOD) .. 4,500 1,797 11,947 8,492 9,624 6,287 4,973 5,465 6,797Public and publicly guaranteed .. 4,500 1,797 11,711 8,285 7,712 5,732 4,710 5,295 6,578Private nonguaranteed .. 0 0 236 207 1,912 556 263 170 219Use of IMF credit 0 0 0 0 0 0 0 0 0 0Short-term debt .. 0 7,224 4,755 3,354 4,503 3,618 3,008 2,018 2,357of which interest arrears on LDOD .. 0 456 1 1 1 1 0 0 0 Official creditors .. 0 6 0 0 0 0 0 0 0 Private creditors .. 0 449 1 1 1 1 0 0 0Memo: principal arrears on LDOD .. 1 1,517 33 38 33 32 0 0 0 Official creditors .. 1 29 0 0 0 0 0 0 0 Private creditors .. 0 1,488 33 38 33 32 0 0 0Memo: export credits .. 0 7,826 11,550 9,778 2,792 2,567 1,825 1,564 1,423

TOTAL DEBT FLOWS Disbursements .. 264 139 943 924 3,259 1,296 1,469 1,917 1,926Long-term debt .. 264 139 943 924 3,259 1,296 1,469 1,917 1,926IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments .. 527 225 5,153 5,286 2,256 4,602 2,637 881 1,104Long-term debt .. 527 225 5,153 5,286 2,256 4,602 2,637 881 1,104IMF repurchases 0 0 0 0 0 0 0 0 0 0Net flows on debt .. -263 2,480 -4,094 -5,763 2,152 -4,191 -1,776 46 1,161of which short-term debt .. 0 2,566 116 -1,401 1,149 -885 -609 -990 339Interest payments (INT) .. 431 430 1,380 980 806 668 589 402 357Long-term debt .. 431 28 1,113 792 603 425 409 301 298IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt .. 0 402 267 188 203 244 180 101 59Net transfers on debt .. -694 2,050 -5,474 -6,743 1,347 -4,859 -2,365 -356 804Total debt service paid (TDS) .. 959 655 6,533 6,266 3,062 5,270 3,225 1,283 1,460Long-term debt .. 959 253 6,266 6,078 2,859 5,026 3,045 1,182 1,401IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0Short-term debt (interest only) .. 0 402 267 188 203 244 180 101 59


NET RESOURCE FLOWS .. -181 -371 -4,142 -4,251 1,057 -3,234 -1,092 1,121 891Net flow of long-term debt (ex. IMF) .. -263 -86 -4,210 -4,362 1,003 -3,306 -1,167 1,036 822Foreign direct investment (net) .. 81 -362 26 53 24 35 39 50 37Portfolio equity flows .. 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) .. 1 76 42 58 30 37 36 35 32Memo: technical coop. grants .. 19 99 103 81 94 85 64 61 60 official net resource flows .. -84 21 -3,544 -4,022 -813 -2,084 -1,312 54 75 private net resource flows .. -97 -392 -597 -228 1,870 -1,150 220 1,067 816

NET TRANSFERS .. -612 -399 -5,254 -5,043 454 -3,659 -1,501 820 594Interest on long-term debt .. 431 28 1,113 792 603 425 409 301 298Profit remittances on FDI .. 0 0 0 0 0 0 0 0 0Memo: official net transfers .. -149 7 -4,424 -4,558 -1,136 -2,343 -1,500 -34 -4 private net transfers .. -463 -406 -830 -485 1,590 -1,316 0 854 598


Gross national income (GNI) .. 93,270 120,782 104,325 99,043 101,728 99,342 101,396 113,009 108,227Exports of goods, serv. & inc. (XGS) .. 14,073 20,197 23,739 20,039 15,141 22,427 30,131 29,296 36,020Worker remit. & comp. of employees .. 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 16,509 22,370 18,970 18,219 17,777 16,363 18,107 22,171 31,910International reserves (RES) .. 12,783 .. .. .. .. .. .. .. ..Current account balance .. -2,438 327 5,232 2,213 -2,139 6,589 12,645 .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 32.0 44.7 70.4 59.1 93.3 44.2 26.5 25.5 25.4EDT / GNI (%) .. 4.8 7.5 16.0 12.0 13.9 10.0 7.9 6.6 8.5TDS / XGS (%) .. 6.8 3.2 27.5 31.3 20.2 23.5 10.7 4.4 4.1INT / XGS (%) .. 3.1 2.1 5.8 4.9 5.3 3.0 2.0 1.4 1.0INT / GNI (%) .. 0.5 0.4 1.3 1.0 0.8 0.7 0.6 0.4 0.3RES / EDT (%) .. 284.0 .. .. .. .. .. .. .. ..RES / MGS (months) .. 9.3 .. .. .. .. .. .. .. ..Short-term / EDT (%) 0.0 0.0 80.1 28.5 28.3 31.9 36.5 37.7 27.0 25.7Concessional / EDT (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Multilateral / EDT (%) 0.0 13.8 1.3 3.2 4.4 3.6 5.0 6.4 6.1 4.4



5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. 4,500 1,797 11,947 8,492 9,624 6,287 4,973 5,465 6,797Public and publicly guaranteed .. 4,500 1,797 11,711 8,285 7,712 5,732 4,710 5,295 6,578Official creditors .. 903 225 8,879 5,902 5,109 3,020 1,619 1,229 1,323 Multilateral .. 621 116 535 525 508 495 507 456 400 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 282 110 8,343 5,377 4,601 2,525 1,112 773 923 Concessional .. 264 110 616 765 725 629 512 429 525Private creditors .. 3,597 1,571 2,832 2,383 2,603 2,712 3,092 4,066 5,255 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 1,055 1,055 143 248 849 1,470 2,116 3,107 4,453 Other private .. 2,542 516 2,689 2,134 1,754 1,242 976 958 803Private nonguaranteed .. 0 0 236 207 1,912 556 263 170 219 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 236 207 1,912 556 263 170 219Memo: IBRD 0 621 86 387 421 433 437 481 456 400 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS .. 264 139 943 924 3,259 1,296 1,469 1,917 1,926Public and publicly guaranteed .. 264 139 943 924 1,350 1,296 1,469 1,917 1,776Official creditors .. 4 30 580 318 281 185 436 293 299 Multilateral .. 4 30 235 91 39 86 120 44 12 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 0 0 345 227 242 98 316 249 286 Concessional .. 0 0 168 222 73 21 62 89 177Private creditors .. 261 109 363 606 1,070 1,111 1,033 1,623 1,477 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 150 197 650 749 833 1,332 1,334 Other private .. 261 109 213 408 420 363 200 291 143Private nonguaranteed .. 0 0 0 0 1,909 0 0 0 150 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 0 1,909 0 0 0 150Memo: IBRD 0 4 0 137 78 28 74 114 44 12 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. 527 225 5,153 5,286 2,256 4,602 2,637 881 1,104Public and publicly guaranteed .. 527 225 5,075 5,256 2,053 3,245 2,344 788 1,003Official creditors .. 89 86 4,167 4,399 1,123 2,305 1,784 274 256 Multilateral .. 70 67 41 86 89 100 108 70 69 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 19 18 4,126 4,313 1,034 2,205 1,676 204 187 Concessional .. 9 18 71 50 128 149 127 150 120Private creditors .. 439 139 908 858 929 940 560 514 747 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 45 0 10 84 44 77 141 250 431 Other private .. 394 139 899 774 886 862 418 264 316Private nonguaranteed .. 0 0 78 30 203 1,357 293 93 101 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 78 30 203 1,357 293 93 101Memo: IBRD 0 70 67 27 29 50 70 70 70 69 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. -263 -86 -4,210 -4,362 1,003 -3,306 -1,167 1,036 822Public and publicly guaranteed .. -263 -86 -4,132 -4,332 -702 -1,949 -875 1,129 773Official creditors .. -85 -56 -3,587 -4,081 -843 -2,121 -1,348 19 43 Multilateral .. -66 -37 193 5 -51 -14 12 -25 -56 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. -19 -18 -3,780 -4,086 -792 -2,107 -1,360 45 99 Concessional .. -9 -18 97 172 -55 -128 -65 -61 57Private creditors .. -178 -30 -545 -252 140 172 473 1,109 730 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. -45 0 141 113 606 672 692 1,082 903 Other private .. -133 -30 -686 -365 -466 -500 -218 27 -173Private nonguaranteed .. 0 0 -78 -30 1,706 -1,357 -293 -93 49 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 -78 -30 1,706 -1,357 -293 -93 49Memo: IBRD 0 -66 -67 110 49 -22 4 44 -25 -56 IDA 0 0 0 0 0 0 0 0 0 0



INTEREST PAYMENTS (LINT) .. 431 28 1,113 792 603 425 409 301 298Public and publicly guaranteed .. 431 28 1,093 777 492 394 393 291 292Official creditors .. 65 14 880 535 323 259 188 88 80 Multilateral .. 49 10 33 38 31 40 44 41 36 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 16 4 846 497 292 219 144 48 44 Concessional .. 14 4 33 39 32 31 21 27 14Private creditors .. 366 14 213 242 169 135 204 203 212 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 153 0 8 14 32 37 139 151 159 Other private .. 213 14 205 228 137 98 65 52 54Private nonguaranteed .. 0 0 20 15 111 31 16 10 6 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 20 15 111 31 16 10 6Memo: IBRD 0 49 10 23 26 19 33 40 41 36 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT .. -694 -114 -5,323 -5,154 400 -3,730 -1,576 735 524Public and publicly guaranteed .. -694 -114 -5,225 -5,109 -1,195 -2,343 -1,267 837 481Official creditors .. -150 -69 -4,466 -4,616 -1,166 -2,380 -1,537 -69 -37 Multilateral .. -116 -47 160 -33 -81 -53 -32 -66 -92 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. -34 -22 -4,626 -4,583 -1,085 -2,326 -1,505 -3 56 Concessional .. -24 -22 64 133 -87 -159 -86 -88 43Private creditors .. -544 -44 -758 -494 -29 37 269 906 518 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. -198 0 133 100 574 634 553 932 745 Other private .. -346 -44 -891 -593 -602 -597 -284 -25 -227Private nonguaranteed .. 0 0 -98 -45 1,595 -1,388 -308 -103 43 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 -98 -45 1,595 -1,388 -308 -103 43Memo: IBRD 0 -116 -77 87 23 -41 -29 5 -66 -92 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. 959 253 6,266 6,078 2,859 5,026 3,045 1,182 1,401Public and publicly guaranteed .. 959 253 6,168 6,033 2,545 3,639 2,737 1,079 1,294Official creditors .. 154 99 5,047 4,934 1,447 2,564 1,973 362 335 Multilateral .. 119 77 75 124 120 140 152 110 105 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 34 22 4,972 4,810 1,327 2,424 1,821 252 231 Concessional .. 24 22 104 89 160 180 148 177 134Private creditors .. 805 154 1,121 1,099 1,098 1,075 764 717 959 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 198 0 17 98 76 115 280 401 589 Other private .. 607 154 1,104 1,002 1,022 960 484 316 370Private nonguaranteed .. 0 0 98 45 314 1,388 308 103 107 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 98 45 314 1,388 308 103 107Memo: IBRD 0 119 77 50 54 69 103 109 110 105 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT .. 1,173 1,512 4,733 3,943 3,186 3,787 5,029 5,069 4,546Official creditors .. 63 250 1,351 1,038 695 571 1,393 1,200 943Private creditors .. 1,109 1,262 3,383 2,905 2,491 3,216 3,636 3,870 3,603Memorandum items Concessional LDOD .. 264 110 616 765 725 629 512 429 525 Variable rate LDOD .. 1,706 1,273 11,349 7,959 8,994 5,625 4,308 4,629 5,685 Public sector LDOD .. 4,500 1,797 11,602 8,173 7,712 5,722 4,691 5,278 6,562 Private sector LDOD .. 0 0 345 319 1,913 565 283 187 235






Total amount rescheduled .. .. 0 1,805 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 1,805 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 0 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 2,502 -5,177 -4,856 2,282 -4,222 -1,924 -498 1,671 Net flows on debt .. -263 2,480 -4,094 -5,763 2,152 -4,191 -1,776 46 1,161 Net change in interest arrears .. .. 1 -5 0 0 0 -1 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. -6 -526 -250 84 -32 -139 -29 448 Residual .. .. 27 -552 1,157 45 0 -8 -515 62

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. 0.0 8.3 6.0 6.6 5.7 6.3 5.9 4.6 4.8 Maturity (years) .. 0.0 9.5 9.2 9.6 7.7 10.4 11.4 9.5 11.2 Grace period (years) .. 0.0 4.0 2.4 2.1 2.3 2.6 3.5 2.6 3.2 Grant element (%) .. 0.0 6.9 15.9 13.7 15.7 15.9 19.2 22.7 22.6Official creditors Interest (%) .. 0.0 7.3 7.0 0.0 5.6 7.6 5.1 4.9 7.3 Maturity (years) .. 0.0 13.5 7.3 0.0 6.0 10.2 13.0 11.1 15.7 Grace period (years) .. 0.0 5.0 1.2 0.0 1.5 2.8 4.4 3.9 5.1 Grant element (%) .. 0.0 14.4 8.4 0.0 12.7 9.7 25.8 24.4 14.2Private creditors Interest (%) .. 0.0 8.6 5.7 6.6 5.7 6.2 6.5 4.6 3.7 Maturity (years) .. 0.0 8.3 9.8 9.6 7.7 10.4 10.4 9.3 9.4 Grace period (years) .. 0.0 3.7 2.7 2.1 2.3 2.5 2.8 2.5 2.5 Grant element (%) .. 0.0 4.7 18.1 13.7 15.7 16.5 14.7 22.5 26.0Memorandum items Commitments .. 0 1,241 1,733 277 683 2,168 2,813 2,171 949 Official creditors .. 0 280 391 0 2 188 1,145 225 275 Private creditors .. 0 961 1,343 277 681 1,980 1,669 1,947 673


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 2,380 1,324 544 183 51 26 15 11 6 1Principal 1,817 1,683 1,389 1,269 1,159 998 902 745 528 414Interest 295 278 239 194 150 112 80 52 33 18Official creditors Disbursements 358 265 147 69 41 26 15 11 6 1Principal 200 204 228 241 230 223 214 192 138 131Interest 69 68 63 54 45 36 27 19 13 9 Bilateral creditors Disbursements 319 215 105 38 18 8 3 1 1 1 Principal 129 132 145 174 170 162 159 158 119 111 Interest 38 41 41 37 31 26 21 15 10 6 Multilateral creditors Disbursements 39 50 42 31 23 18 12 10 5 0 Principal 71 72 83 67 60 60 55 35 19 19 Interest 31 27 22 17 14 10 7 4 3 2Private creditors Disbursements 2,022 1,060 396 113 10 0 0 0 0 0Principal 1,617 1,479 1,161 1,028 929 776 688 552 390 284Interest 226 210 175 139 105 76 53 33 20 9 Commercial banks Disbursements 1,771 873 316 85 0 0 0 0 0 0 Principal 1,291 1,278 960 832 762 652 584 487 330 224 Interest 193 179 148 118 90 65 45 27 15 7 Other private Disbursements 251 186 81 28 10 0 0 0 0 0 Principal 327 201 201 196 167 124 104 65 59 59 Interest 33 31 27 21 15 11 8 6 4 3

276JAMAICA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 184 363 348 223 190 404 209 906 1,037 610Long-term debt 180 363 292 223 190 404 209 906 1,037 610IMF purchases 4 0 56 0 0 0 0 0 0 0Principal repayments 170 121 401 444 435 314 374 442 422 509Long-term debt 170 102 290 372 400 298 355 423 404 490IMF repurchases 0 19 111 72 35 17 19 19 18 19Net flows on debt 13 234 -99 -135 -109 34 -58 442 745 -62of which short-term debt 0 -8 -45 87 135 -55 108 -21 130 -163Interest payments (INT) 63 159 260 213 193 175 192 255 312 333Long-term debt 63 121 202 178 154 136 153 208 284 319IMF charges 0 23 34 9 7 5 4 4 3 1Short-term debt 0 15 24 26 33 34 35 44 26 13Net transfers on debt -50 75 -359 -348 -303 -141 -250 187 434 -395Total debt service paid (TDS) 234 280 662 657 628 490 566 698 734 842Long-term debt 234 223 492 550 555 434 508 631 687 809IMF repurchases and charges 0 42 145 81 41 22 23 23 21 20Short-term debt (interest only) 0 15 24 26 33 34 35 44 26 13


NET RESOURCE FLOWS 174 301 257 73 34 568 402 996 1,317 639Net flow of long-term debt (ex. IMF) 10 261 2 -150 -210 107 -146 482 633 119Foreign direct investment (net) 162 28 138 184 203 369 524 468 614 481Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 3 13 117 39 41 93 25 45 70 38Memo: technical coop. grants 5 17 33 38 37 32 34 32 37 46 official net resource flows 14 293 165 -135 -208 -34 -52 83 -38 99 private net resource flows 160 9 92 208 242 602 454 912 1,356 540

NET TRANSFERS 111 66 -135 -212 -299 248 21 498 733 10Interest on long-term debt 63 121 202 178 154 136 153 208 284 319Profit remittances on FDI 0 114 189 108 179 184 228 290 301 310Memo: official net transfers 12 247 0 -283 -331 -141 -151 -37 -152 1 private net transfers 99 -181 -135 70 32 389 172 535 885 9


Gross national income (GNI) 1,344 2,450 4,158 5,918 6,800 6,922 6,881 7,085 7,145 7,274Exports of goods, serv. & inc. (XGS) .. 1,472 2,461 4,100 4,189 4,195 4,324 4,571 4,510 4,579Worker remit. & comp. of employees 0 96 229 690 715 742 775 878 1,047 1,241Imports of goods & services (MGS) .. 1,678 2,928 4,231 4,504 4,502 4,507 4,970 5,243 5,655International reserves (RES) 139 105 168 880 682 709 555 1,054 1,901 1,645Current account balance .. -136 -312 -143 -332 -334 -216 -367 -759 -1,119

4. DEBT INDICATORS


277JAMAICA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 982 1,505 4,045 3,311 2,958 3,150 3,002 3,858 4,399 4,678Public and publicly guaranteed 160 1,430 4,011 3,188 2,770 2,971 2,836 3,756 4,305 4,592Official creditors 59 920 3,456 2,809 2,421 2,379 2,305 2,440 2,250 2,400 Multilateral 30 284 1,174 1,125 1,008 1,021 1,043 1,218 1,213 1,392 Concessional 0 79 180 147 131 127 126 155 144 157 Bilateral 29 636 2,282 1,684 1,413 1,358 1,262 1,222 1,038 1,008 Concessional 19 310 1,246 1,094 942 934 880 900 791 780Private creditors 101 510 555 379 349 592 531 1,316 2,055 2,193 Bonds 83 19 0 77 77 327 263 1,004 1,810 1,943 Commercial banks 17 384 325 234 221 208 206 261 188 185 Other private 0 108 230 68 51 57 62 51 56 64Private nonguaranteed 822 75 34 123 188 179 166 103 94 86 Bonds 0 0 0 55 55 55 55 0 0 0 Commercial banks and other 822 75 34 68 133 124 111 103 94 86Memo: IBRD 30 176 672 515 431 409 393 415 443 495 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 180 363 292 223 190 404 209 906 1,037 610Public and publicly guaranteed 15 338 292 223 120 404 209 906 1,037 610Official creditors 14 317 253 121 108 129 168 311 173 265 Multilateral 7 93 110 89 87 84 146 255 138 236 Concessional 0 33 9 9 9 5 2 18 5 15 Bilateral 7 224 144 32 21 45 22 57 35 29 Concessional 2 84 103 16 9 13 21 25 23 18Private creditors 1 21 39 101 12 275 41 594 865 344 Bonds 0 0 0 52 0 250 0 553 819 300 Commercial banks 1 4 0 36 12 14 31 25 31 32 Other private 0 17 39 13 0 11 9 16 15 12Private nonguaranteed 165 25 0 0 70 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 165 25 0 0 70 0 0 0 0 0Memo: IBRD 7 55 35 41 26 31 64 98 91 84 IDA 0 0 0 0 0 0 0 0 0 0


NET FLOWS ON DEBT 10 261 2 -150 -210 107 -146 482 633 119Public and publicly guaranteed 9 246 10 -145 -275 115 -133 546 642 128Official creditors 12 280 48 -174 -248 -126 -76 38 -108 60 Multilateral 6 82 9 -35 -49 -28 30 132 29 127 Concessional 0 33 1 0 -14 -4 -8 8 -10 7 Bilateral 6 198 39 -139 -199 -98 -106 -94 -137 -67 Concessional 1 82 84 -51 -88 -51 -47 -51 -57 -50Private creditors -3 -34 -38 29 -27 242 -57 508 750 68 Bonds -2 -9 0 52 0 250 -65 540 819 70 Commercial banks -1 -12 -1 -28 -12 -13 0 -22 -72 -4 Other private 0 -13 -37 5 -15 5 8 -11 4 2Private nonguaranteed 1 15 -8 -5 65 -9 -13 -64 -9 -9 Bonds 0 0 0 0 0 0 0 -55 0 0 Commercial banks and other 1 15 -8 -5 65 -9 -13 -9 -9 -9Memo: IBRD 6 50 -26 -39 -46 -41 -11 37 40 40 IDA 0 0 0 0 0 0 0 0 0 0

278JAMAICA



NET TRANSFERS ON DEBT -54 140 -200 -328 -364 -29 -299 274 350 -200Public and publicly guaranteed -1 131 -189 -312 -416 -8 -274 351 369 -182Official creditors 9 235 -116 -322 -371 -234 -176 -82 -222 -38 Multilateral 5 66 -76 -109 -119 -88 -28 68 -42 61 Concessional 0 31 -4 -3 -20 -7 -11 4 -14 3 Bilateral 4 169 -40 -213 -253 -146 -148 -150 -181 -99 Concessional 0 72 67 -85 -113 -78 -71 -76 -86 -73Private creditors -10 -103 -73 10 -45 226 -98 433 591 -144 Bonds -7 -10 0 51 -3 247 -94 490 677 -127 Commercial banks -3 -66 -22 -44 -26 -25 -11 -39 -86 -15 Other private 0 -26 -51 3 -16 4 7 -18 0 -2Private nonguaranteed -53 8 -11 -16 52 -21 -25 -77 -19 -18 Bonds 0 0 0 -5 -5 -5 -5 -57 0 0 Commercial banks and other -53 8 -11 -11 57 -17 -21 -20 -19 -18Memo: IBRD 5 37 -85 -80 -80 -68 -35 15 18 19 IDA 0 0 0 0 0 0 0 0 0 0


UNDISBURSED DEBT 42 335 845 1,119 1,305 1,298 1,208 702 694 664Official creditors 42 323 733 974 959 944 852 610 647 638Private creditors 0 11 113 145 347 355 356 91 47 27Memorandum items Concessional LDOD 19 389 1,426 1,241 1,073 1,062 1,006 1,055 935 937 Variable rate LDOD 822 344 1,042 991 974 934 909 929 905 1,072 Public sector LDOD 158 1,383 4,011 3,188 2,770 2,971 2,836 3,754 4,303 4,591 Private sector LDOD 824 122 34 123 188 179 166 104 96 87



279JAMAICA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 120 -520 -286 125 -16 836 658 113 Net flows on debt 13 234 -99 -135 -109 34 -58 442 745 -62 Net change in interest arrears .. .. 0 -4 -25 1 46 24 7 13 Interest capitalized .. .. 54 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -24 0 0 0 -7 -4 -3 -3 Cross-currency valuation .. .. 158 -158 -174 85 -19 -86 -94 190 Residual .. .. 30 -224 21 5 22 460 2 -25

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.0 7.2 7.6 4.5 8.4 7.8 6.2 9.2 9.8 7.4 Maturity (years) 16.0 13.8 17.8 16.1 11.3 8.5 15.9 11.2 13.4 16.1 Grace period (years) 3.2 4.6 4.2 4.6 4.9 5.4 3.9 4.6 10.2 10.3 Grant element (%) 21.7 21.6 14.1 30.1 9.2 10.3 21.2 6.5 0.3 15.6Official creditors Interest (%) 6.0 6.5 7.5 4.6 6.8 5.7 5.7 6.1 4.6 3.7 Maturity (years) 16.0 14.7 19.7 19.7 21.0 12.3 19.9 19.8 19.1 18.4 Grace period (years) 3.2 5.0 4.7 5.6 5.1 2.4 4.7 5.4 5.0 5.5 Grant element (%) 21.7 24.1 15.8 35.7 20.6 20.2 25.6 25.1 34.1 39.7Private creditors Interest (%) 0.0 13.0 8.7 4.1 9.4 8.5 7.0 11.0 11.3 10.2 Maturity (years) 0.0 5.7 1.9 8.0 5.4 7.2 7.9 6.0 11.9 14.4 Grace period (years) 0.0 1.3 0.4 2.4 4.8 6.4 2.1 4.2 11.6 14.1 Grant element (%) 0.0 0.2 0.6 17.5 2.3 6.9 12.3 -4.7 -9.1 -3.3Memorandum items Commitments 24 245 360 323 347 378 137 1,064 1,053 574 Official creditors 24 219 320 223 130 96 92 401 229 252 Private creditors 0 26 40 99 216 282 46 663 824 322


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


280JORDAN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 119 1,867 8,333 7,385 7,317 7,565 8,087 7,354 7,516 8,094Long-term debt (LDOD) 119 1,381 7,202 6,448 6,147 6,502 6,718 6,186 6,636 7,076Public and publicly guaranteed 119 1,381 7,202 6,448 6,147 6,502 6,718 6,186 6,636 7,076Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 0 94 340 427 469 498 462 433 483Short-term debt 0 485 1,037 598 743 593 871 706 447 536of which interest arrears on LDOD 0 5 107 82 82 81 92 102 36 36 Official creditors 0 5 30 81 82 81 92 102 36 36 Private creditors 0 0 77 1 1 0 0 0 0 0Memo: principal arrears on LDOD 0 22 529 251 258 241 268 281 144 141 Official creditors 0 22 34 206 231 234 259 274 142 140 Private creditors 0 0 495 46 27 7 9 7 2 2Memo: export credits 0 0 2,366 1,388 2,811 1,058 956 1,058 1,057 1,159

TOTAL DEBT FLOWS Disbursements 15 369 691 935 715 482 485 196 653 433Long-term debt 15 369 691 816 582 450 409 176 614 341IMF purchases 0 0 0 119 133 32 76 20 39 93Principal repayments 3 103 252 593 504 422 298 424 401 390Long-term debt 3 103 242 570 481 413 262 393 349 311IMF repurchases 0 0 10 22 22 9 36 31 51 79Net flows on debt 12 462 604 141 357 -89 454 -404 60 132of which short-term debt 0 196 165 -202 145 -149 267 -176 -192 89Interest payments (INT) 2 106 377 385 360 450 251 309 256 195Long-term debt 2 79 310 338 308 395 204 239 218 173IMF charges 0 0 9 12 17 20 19 24 20 14Short-term debt 0 28 58 35 35 34 28 46 18 8Net transfers on debt 10 356 227 -244 -3 -539 203 -713 -196 -63Total debt service paid (TDS) 5 209 628 978 864 872 549 734 657 585Long-term debt 5 182 552 909 789 808 466 632 567 484IMF repurchases and charges 0 0 18 34 39 30 55 56 72 93Short-term debt (interest only) 0 28 58 35 35 34 28 46 18 8


NET RESOURCE FLOWS 53 1,427 1,159 427 758 622 563 938 546 417Net flow of long-term debt (ex. IMF) 12 266 449 245 101 37 147 -217 265 30Foreign direct investment (net) 0 34 38 16 361 310 158 787 100 56Portfolio equity flows 0 0 0 0 0 0 22 -17 -145 -52Grants (excluding technical coop.) 41 1,127 672 167 296 275 236 386 326 384Memo: technical coop. grants 31 25 68 145 69 63 158 120 133 156 official net resource flows 49 1,400 907 571 529 435 451 324 660 448 private net resource flows 4 28 252 -144 228 187 112 614 -114 -31

NET TRANSFERS 51 1,349 849 88 448 225 358 699 326 244Interest on long-term debt 2 79 310 338 308 395 204 239 218 173Profit remittances on FDI 0 0 0 1 1 1 1 1 2 1Memo: official net transfers 48 1,357 784 324 294 117 312 166 489 310 private net transfers 4 -8 65 -236 154 109 45 533 -163 -67


Gross national income (GNI) 658 4,009 3,805 6,627 7,037 7,774 7,980 8,439 8,838 9,222Exports of goods, serv. & inc. (XGS) .. 2,498 3,078 5,319 5,476 5,477 5,499 5,867 6,235 6,688Worker remit. & comp. of employees 0 794 499 1,544 1,655 1,543 1,664 1,845 2,011 2,135Imports of goods & services (MGS) .. 3,309 3,850 5,828 5,643 5,633 5,470 6,332 6,488 6,559International reserves (RES) 258 1,745 1,139 2,055 2,436 1,988 2,770 3,441 3,174 4,116Current account balance .. 374 -227 -222 29 14 405 59 -4 468

4. DEBT INDICATORS


281JORDAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 119 1,381 7,202 6,448 6,147 6,502 6,718 6,186 6,636 7,076Public and publicly guaranteed 119 1,381 7,202 6,448 6,147 6,502 6,718 6,186 6,636 7,076Official creditors 109 1,106 3,551 4,661 4,618 5,147 5,484 5,194 5,781 6,257 Multilateral 9 159 887 1,374 1,427 1,630 1,793 1,706 1,824 2,012 Concessional 9 113 209 368 431 500 601 601 600 632 Bilateral 100 947 2,664 3,287 3,191 3,517 3,691 3,488 3,958 4,245 Concessional 100 602 2,276 2,815 2,680 2,978 3,187 2,919 2,659 2,768Private creditors 10 276 3,651 1,787 1,529 1,355 1,234 993 855 819 Bonds 0 0 263 796 786 775 765 636 548 536 Commercial banks 0 206 1,604 216 116 58 20 1 1 1 Other private 10 70 1,784 775 627 522 449 356 306 282Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 26 516 777 749 745 835 798 886 1,020 IDA 9 76 77 67 65 62 60 57 55 52



NET FLOWS ON DEBT 12 266 449 245 101 37 147 -217 265 30Public and publicly guaranteed 12 266 449 245 101 37 147 -217 265 30Official creditors 8 272 234 405 233 160 215 -62 334 64 Multilateral 0 52 48 248 128 161 202 -44 141 105 Concessional 0 17 -3 92 67 63 107 4 3 8 Bilateral 7 220 186 157 106 0 14 -18 194 -41 Concessional 7 84 191 123 111 38 33 -40 140 -35Private creditors 4 -6 214 -159 -133 -123 -68 -155 -70 -34 Bonds 0 0 0 -5 -10 -10 -9 -95 -45 -10 Commercial banks 0 -31 4 -117 -98 -58 -38 -19 0 0 Other private 4 25 210 -38 -25 -55 -21 -41 -24 -24Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 22 71 91 25 -27 95 -15 106 111 IDA 0 9 -1 -2 -2 -2 -3 -3 -3 -3

282JORDAN



NET TRANSFERS ON DEBT 10 188 139 -93 -207 -358 -57 -456 47 -143Public and publicly guaranteed 10 188 139 -93 -207 -358 -57 -456 47 -143Official creditors 6 230 112 158 -2 -158 77 -220 164 -74 Multilateral 0 47 -6 182 58 84 118 -135 49 25 Concessional 0 14 -9 83 53 45 86 -19 -21 -17 Bilateral 6 183 118 -24 -60 -243 -41 -85 115 -98 Concessional 6 71 134 -36 -35 -188 -10 -87 97 -73Private creditors 4 -42 27 -251 -205 -200 -133 -236 -117 -69 Bonds 0 0 -14 -45 -49 -54 -54 -141 -80 -38 Commercial banks 0 -63 -63 -139 -113 -65 -42 -20 0 0 Other private 4 20 104 -67 -43 -81 -37 -75 -37 -31Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 21 33 43 -22 -74 47 -68 56 72 IDA 0 8 -2 -3 -3 -3 -3 -3 -3 -3


UNDISBURSED DEBT 73 1,352 1,470 1,444 1,048 1,124 1,121 1,282 1,038 825Official creditors 61 1,135 1,119 1,444 1,048 1,124 1,121 1,282 1,038 825Private creditors 12 217 351 0 0 0 0 0 0 0Memorandum items Concessional LDOD 109 715 2,485 3,183 3,112 3,477 3,788 3,520 3,258 3,399 Variable rate LDOD 0 199 2,501 1,796 1,671 1,645 1,777 1,795 2,476 2,785 Public sector LDOD 118 1,381 7,202 6,429 6,125 6,468 6,677 6,152 6,604 7,047 Private sector LDOD 1 1 0 19 22 34 41 35 32 28



283JORDAN




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,017 -275 -68 247 522 -733 162 578 Net flows on debt 12 462 604 141 357 -89 454 -404 60 132 Net change in interest arrears .. .. 69 15 0 -1 11 11 -66 0 Interest capitalized .. .. 0 59 48 63 76 62 172 100 Debt forgiveness or reduction .. .. 0 -11 -34 0 -2 -63 -101 -66 Cross-currency valuation .. .. 309 -333 -432 302 17 -366 -314 508 Residual .. .. 35 -146 -7 -27 -34 27 411 -95



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


284KAZAKHSTAN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 2,922 4,078 6,084 6,122 11,805 14,372 17,538Long-term debt (LDOD) .. .. .. 2,149 3,218 5,008 5,188 11,466 13,541 16,355Public and publicly guaranteed .. .. .. 1,946 2,622 3,038 3,353 3,617 3,446 3,209Private nonguaranteed .. .. .. 203 596 1,970 1,835 7,849 10,095 13,146Use of IMF credit .. .. .. 552 511 653 460 0 0 0Short-term debt .. .. .. 221 349 424 474 339 832 1,184of which interest arrears on LDOD .. .. .. 0 0 49 108 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 49 108 0 0 0Memo: principal arrears on LDOD .. .. .. 0 0 55 95 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 55 95 0 0 0Memo: export credits .. .. .. 1,203 1,173 580 438 347 319 325

TOTAL DEBT FLOWS Disbursements .. .. .. 922 1,487 2,030 1,364 3,057 4,785 5,219Long-term debt .. .. .. 787 1,487 1,820 1,364 3,057 4,785 5,219IMF purchases .. .. .. 135 0 210 0 0 0 0Principal repayments .. .. .. 192 273 718 1,078 2,594 2,622 3,390Long-term debt .. .. .. 192 267 623 902 2,152 2,622 3,390IMF repurchases .. .. .. 0 6 95 176 442 0 0Net flows on debt .. .. .. 732 1,342 1,337 277 436 2,655 2,181of which short-term debt .. .. .. 2 128 26 -9 -27 492 352Interest payments (INT) .. .. .. 131 210 273 284 744 708 725Long-term debt .. .. .. 98 170 231 243 713 685 693IMF charges .. .. .. 22 24 23 22 11 0 0Short-term debt .. .. .. 10 16 20 19 20 23 32Net transfers on debt .. .. .. 601 1,132 1,064 -7 -307 1,946 1,456Total debt service paid (TDS) .. .. .. 322 483 992 1,362 3,338 3,331 4,115Long-term debt .. .. .. 290 437 854 1,145 2,865 3,307 4,083IMF repurchases and charges .. .. .. 22 31 118 198 453 0 0Short-term debt (interest only) .. .. .. 10 16 20 19 20 23 32


NET RESOURCE FLOWS .. .. .. 1,776 2,596 2,374 2,078 2,250 5,081 4,471Net flow of long-term debt (ex. IMF) .. .. .. 596 1,220 1,196 462 905 2,162 1,829Foreign direct investment (net) .. .. .. 1,137 1,321 1,151 1,587 1,283 2,835 2,583Portfolio equity flows .. .. .. 0 0 0 0 19 55 39Grants (excluding technical coop.) .. .. .. 44 54 26 28 44 28 20Memo: technical coop. grants .. .. .. 67 41 97 86 74 81 102 official net resource flows .. .. .. 377 488 366 263 80 63 40 private net resource flows .. .. .. 1,399 2,108 2,008 1,815 2,170 5,019 4,431

NET TRANSFERS .. .. .. 1,560 2,271 2,046 1,561 603 3,363 2,863Interest on long-term debt .. .. .. 98 170 231 243 713 685 693Profit remittances on FDI .. .. .. 119 155 97 274 934 1,033 916Memo: official net transfers .. .. .. 315 400 265 157 -43 -48 -64 private net transfers .. .. .. 1,245 1,870 1,781 1,404 647 3,411 2,926


Gross national income (GNI) .. .. .. 20,853 21,856 21,837 16,346 17,150 21,013 23,604Exports of goods, serv. & inc. (XGS) .. .. .. 7,023 7,815 6,870 7,030 10,624 10,541 11,956Worker remit. & comp. of employees .. .. .. 0 0 0 0 67 85 111Imports of goods & services (MGS) .. .. .. 7,832 8,689 8,218 7,358 10,134 11,800 12,658International reserves (RES) .. .. .. 1,961 2,223 1,965 2,001 2,099 2,506 3,136Current account balance .. .. .. -751 -799 -1,225 -171 676 -1,109 -696

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. 41.6 52.2 88.6 87.1 111.1 136.3 146.7EDT / GNI (%) .. .. .. 14.0 18.7 27.9 37.5 68.8 68.4 74.3TDS / XGS (%) .. .. .. 4.6 6.2 14.4 19.4 31.4 31.6 34.4INT / XGS (%) .. .. .. 1.9 2.7 4.0 4.0 7.0 6.7 6.1INT / GNI (%) .. .. .. 0.6 1.0 1.3 1.7 4.3 3.4 3.1RES / EDT (%) .. .. .. 67.1 54.5 32.3 32.7 17.8 17.4 17.9RES / MGS (months) .. .. .. 3.0 3.1 2.9 3.3 2.5 2.5 3.0Short-term / EDT (%) 0.0 0.0 0.0 7.6 8.6 7.0 7.7 2.9 5.8 6.7Concessional / EDT (%) 0.0 0.0 0.0 4.4 3.9 4.2 6.3 3.5 2.7 2.8Multilateral / EDT (%) 0.0 0.0 0.0 20.0 20.2 20.3 24.1 12.5 10.5 9.4

285KAZAKHSTAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 2,149 3,218 5,008 5,188 11,466 13,541 16,355Public and publicly guaranteed .. .. .. 1,946 2,622 3,038 3,353 3,617 3,446 3,209Official creditors .. .. .. 1,291 1,612 2,050 2,317 2,228 2,148 2,297 Multilateral .. .. .. 586 824 1,233 1,473 1,477 1,507 1,648 Concessional .. .. .. 6 22 37 60 60 58 85 Bilateral .. .. .. 705 788 817 843 751 640 649 Concessional .. .. .. 122 135 218 328 351 332 408Private creditors .. .. .. 656 1,009 988 1,037 1,389 1,298 912 Bonds .. .. .. 200 550 550 650 1,000 1,000 650 Commercial banks .. .. .. 17 114 148 195 253 218 205 Other private .. .. .. 438 346 290 192 136 80 56Private nonguaranteed .. .. .. 203 596 1,970 1,835 7,849 10,095 13,146 Bonds .. .. .. 0 0 100 100 100 100 400 Commercial banks and other .. .. .. 203 596 1,870 1,735 7,749 9,995 12,746Memo: IBRD .. .. .. 490 648 899 1,082 1,057 1,070 1,178 IDA .. .. .. 0 0 0 0 0 0 0

DISBURSEMENTS .. .. .. 787 1,487 1,820 1,364 3,057 4,785 5,219Public and publicly guaranteed .. .. .. 639 991 485 747 623 228 266Official creditors .. .. .. 408 491 442 350 168 193 194 Multilateral .. .. .. 257 284 365 263 95 159 142 Concessional .. .. .. 6 17 12 16 5 3 19 Bilateral .. .. .. 150 208 77 87 73 34 52 Concessional .. .. .. 36 29 60 83 69 34 52Private creditors .. .. .. 232 500 43 397 455 35 72 Bonds .. .. .. 200 350 0 300 350 0 0 Commercial banks .. .. .. 0 105 42 40 98 9 72 Other private .. .. .. 32 45 1 56 7 26 0Private nonguaranteed .. .. .. 148 496 1,334 618 2,434 4,557 4,953 Bonds .. .. .. 0 0 100 0 0 100 300 Commercial banks and other .. .. .. 148 496 1,234 618 2,434 4,457 4,653Memo: IBRD .. .. .. 225 202 211 209 50 114 92 IDA .. .. .. 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. .. 192 267 623 902 2,152 2,622 3,390Public and publicly guaranteed .. .. .. 151 151 192 449 215 254 646Official creditors .. .. .. 74 57 103 115 131 159 174 Multilateral .. .. .. 32 0 0 24 31 70 83 Concessional .. .. .. 0 0 0 0 0 0 1 Bilateral .. .. .. 43 57 103 92 101 89 92 Concessional .. .. .. 1 1 1 5 8 9 10Private creditors .. .. .. 77 94 89 333 84 94 472 Bonds .. .. .. 0 0 0 200 0 0 350 Commercial banks .. .. .. 0 8 13 53 31 36 91 Other private .. .. .. 77 87 77 80 53 58 31Private nonguaranteed .. .. .. 41 115 432 453 1,937 2,369 2,744 Bonds .. .. .. 0 0 0 0 0 100 0 Commercial banks and other .. .. .. 41 115 432 453 1,937 2,269 2,744Memo: IBRD .. .. .. 0 0 0 19 20 47 56 IDA .. .. .. 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. 596 1,220 1,196 462 905 2,162 1,829Public and publicly guaranteed .. .. .. 488 840 294 298 408 -26 -380Official creditors .. .. .. 334 434 340 235 36 34 20 Multilateral .. .. .. 226 284 365 239 64 89 60 Concessional .. .. .. 6 17 12 16 5 3 18 Bilateral .. .. .. 108 151 -25 -5 -28 -55 -40 Concessional .. .. .. 35 29 60 78 62 25 42Private creditors .. .. .. 155 406 -46 63 372 -60 -400 Bonds .. .. .. 200 350 0 100 350 0 -350 Commercial banks .. .. .. 0 97 30 -13 67 -28 -19 Other private .. .. .. -45 -41 -76 -24 -46 -32 -31Private nonguaranteed .. .. .. 107 380 903 164 497 2,188 2,209 Bonds .. .. .. 0 0 100 0 0 0 300 Commercial banks and other .. .. .. 107 380 803 164 497 2,188 1,909Memo: IBRD .. .. .. 225 202 211 190 30 67 36 IDA .. .. .. 0 0 0 0 0 0 0

286KAZAKHSTAN



NET TRANSFERS ON DEBT .. .. .. 497 1,050 966 219 192 1,477 1,136Public and publicly guaranteed .. .. .. 394 676 88 120 173 -270 -609Official creditors .. .. .. 271 346 239 129 -87 -77 -83 Multilateral .. .. .. 195 241 307 167 -18 11 -17 Concessional .. .. .. 6 17 12 15 5 2 17 Bilateral .. .. .. 76 105 -69 -38 -69 -87 -66 Concessional .. .. .. 28 24 54 70 52 15 31Private creditors .. .. .. 123 330 -151 -9 260 -194 -526 Bonds .. .. .. 200 328 -48 53 260 -109 -459 Commercial banks .. .. .. -1 83 22 -21 53 -45 -33 Other private .. .. .. -76 -81 -125 -41 -54 -40 -34Private nonguaranteed .. .. .. 103 374 878 100 20 1,748 1,745 Bonds .. .. .. 0 0 100 -11 -11 -11 273 Commercial banks and other .. .. .. 103 374 778 111 31 1,759 1,472Memo: IBRD .. .. .. 201 167 167 137 -33 13 -15 IDA .. .. .. 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. .. 290 437 854 1,145 2,865 3,307 4,083Public and publicly guaranteed .. .. .. 246 315 397 627 450 498 875Official creditors .. .. .. 137 145 204 221 255 270 277 Multilateral .. .. .. 62 42 58 96 113 148 159 Concessional .. .. .. 0 0 0 0 1 1 1 Bilateral .. .. .. 75 103 146 125 142 122 118 Concessional .. .. .. 8 5 6 13 17 20 21Private creditors .. .. .. 109 170 194 406 196 228 597 Bonds .. .. .. 0 22 48 247 90 109 459 Commercial banks .. .. .. 1 22 20 61 46 54 105 Other private .. .. .. 107 126 125 97 61 66 34Private nonguaranteed .. .. .. 44 121 457 518 2,415 2,809 3,208 Bonds .. .. .. 0 0 0 11 11 111 27 Commercial banks and other .. .. .. 44 121 457 507 2,403 2,698 3,182Memo: IBRD .. .. .. 24 34 44 71 83 100 107 IDA .. .. .. 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. .. 1,170 1,184 1,479 1,608 1,466 1,458 1,093Official creditors .. .. .. 977 1,005 1,307 1,457 1,413 1,415 1,065Private creditors .. .. .. 193 179 172 151 53 43 29Memorandum items Concessional LDOD .. .. .. 128 157 255 389 411 389 493 Variable rate LDOD .. .. .. 1,481 2,196 3,852 3,827 9,706 11,675 14,834 Public sector LDOD .. .. .. 1,946 2,622 3,033 3,349 3,614 3,444 3,140 Private sector LDOD .. .. .. 203 596 1,975 1,839 7,852 10,097 13,215



287KAZAKHSTAN




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 -828 1,156 2,007 38 5,683 2,567 3,166 Net flows on debt .. .. .. 732 1,342 1,337 277 436 2,655 2,181 Net change in interest arrears .. .. 0 -162 0 49 60 -108 0 0 Interest capitalized .. .. .. 0 0 0 0 0 5 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 -18 0 Cross-currency valuation .. .. 0 -433 -198 141 -38 -161 -124 153 Residual .. .. 0 -965 12 480 -261 5,516 50 832

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. 7.1 6.5 5.3 9.1 8.4 3.8 5.2 Maturity (years) .. .. .. 13.5 13.6 24.2 12.4 13.1 16.4 7.0 Grace period (years) .. .. .. 4.1 5.6 6.2 4.7 6.6 4.3 2.9 Grant element (%) .. .. .. 15.1 21.2 34.3 7.8 14.4 35.6 19.2Official creditors Interest (%) .. .. .. 6.5 5.5 5.1 6.2 2.6 3.9 0.0 Maturity (years) .. .. .. 17.4 20.5 25.0 18.3 28.9 16.9 0.0 Grace period (years) .. .. .. 4.7 6.5 6.4 5.1 9.0 4.4 0.0 Grant element (%) .. .. .. 19.9 31.1 35.8 23.7 59.0 36.3 0.0Private creditors Interest (%) .. .. .. 8.8 7.6 7.8 12.5 11.0 3.0 5.2 Maturity (years) .. .. .. 4.0 5.9 9.2 5.4 6.0 8.2 7.0 Grace period (years) .. .. .. 2.7 4.6 2.1 4.3 5.6 1.2 2.9 Grant element (%) .. .. .. 3.6 10.1 7.1 -10.9 -5.5 23.9 19.2Memorandum items Commitments .. .. .. 903 1,058 729 810 666 453 95 Official creditors .. .. .. 639 559 691 438 206 428 0 Private creditors .. .. .. 264 499 38 371 460 25 95


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 412 243 174 119 74 39 22 4 3 2Principal 2,972 3,619 2,905 2,888 2,702 248 273 262 209 196Interest 638 529 346 240 152 83 72 62 52 43Official creditors Disbursements 398 233 171 118 74 39 22 4 3 2Principal 197 209 234 224 239 230 233 239 206 193Interest 109 106 102 97 89 80 71 61 51 43 Bilateral creditors Disbursements 253 122 82 54 31 16 8 1 0 0 Principal 63 62 67 54 61 67 69 74 72 70 Interest 31 31 31 30 28 26 23 21 18 15 Multilateral creditors Disbursements 145 111 89 63 43 23 14 4 3 2 Principal 134 147 167 170 178 164 164 164 134 122 Interest 79 75 72 67 61 54 48 40 34 28Private creditors Disbursements 14 9 4 2 0 0 0 0 0 0Principal 2,775 3,410 2,671 2,664 2,463 17 40 23 3 3Interest 529 423 244 144 63 3 2 1 1 0 Commercial banks Disbursements 14 9 4 2 0 0 0 0 0 0 Principal 64 52 34 19 17 14 6 3 3 3 Interest 9 6 4 2 2 1 1 1 1 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2,711 3,358 2,637 2,645 2,445 3 34 20 0 0 Interest 520 417 240 141 61 2 1 0 0 0

288KENYA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 478 3,387 7,058 6,811 6,456 6,808 6,450 6,159 5,562 6,031Long-term debt (LDOD) 408 2,493 5,641 5,946 5,409 5,777 5,539 5,239 4,860 5,188Public and publicly guaranteed 321 2,056 4,761 5,571 5,084 5,497 5,319 5,064 4,751 5,139Private nonguaranteed 88 437 880 375 325 280 220 175 109 49Use of IMF credit 0 254 482 337 250 196 131 127 99 88Short-term debt 69 640 934 528 797 834 779 793 603 756of which interest arrears on LDOD 0 2 95 10 28 58 69 42 34 57 Official creditors 0 2 49 7 18 25 41 10 16 30 Private creditors 0 0 46 3 10 33 28 32 19 27Memo: principal arrears on LDOD 0 3 72 15 57 106 178 134 150 236 Official creditors 0 0 22 13 39 66 114 16 43 101 Private creditors 0 3 50 2 18 40 64 117 107 135Memo: export credits 0 0 1,540 1,102 1,093 511 378 385 347 406

TOTAL DEBT FLOWS Disbursements 78 714 778 404 185 318 265 437 176 220Long-term debt 78 620 642 368 185 318 265 392 176 220IMF purchases 0 94 136 36 0 0 0 44 0 0Principal repayments 33 204 457 571 449 473 527 387 368 348Long-term debt 29 195 352 510 382 410 467 345 345 329IMF repurchases 4 9 105 61 67 63 60 42 24 18Net flows on debt 45 718 615 -251 -13 -148 -328 90 -375 3of which short-term debt 0 209 294 -84 251 7 -66 41 -182 130Interest payments (INT) 17 229 333 274 214 197 174 139 110 105Long-term debt 17 163 230 241 183 157 133 97 83 85IMF charges 0 8 26 2 1 1 1 1 1 0Short-term debt 0 58 78 30 29 39 40 41 26 19Net transfers on debt 28 489 281 -525 -227 -344 -501 -49 -485 -102Total debt service paid (TDS) 50 433 791 844 663 669 701 526 479 452Long-term debt 46 359 582 752 565 567 600 442 428 414IMF repurchases and charges 4 17 131 63 69 64 61 43 24 19Short-term debt (interest only) 0 58 78 30 29 39 40 41 26 19


NET RESOURCE FLOWS 67 624 1,324 74 72 150 28 371 153 150Net flow of long-term debt (ex. IMF) 49 424 290 -142 -197 -92 -202 48 -169 -109Foreign direct investment (net) 14 79 57 13 40 42 42 127 50 50Portfolio equity flows 0 0 0 8 27 1 -8 -6 2 0Grants (excluding technical coop.) 3 121 977 196 202 199 196 202 269 209Memo: technical coop. grants 27 128 207 192 180 151 140 138 137 168 official net resource flows 33 323 1,202 248 127 108 62 318 232 111 private net resource flows 33 301 122 -174 -55 42 -34 54 -78 39

NET TRANSFERS 49 311 961 -191 -149 -15 -120 246 20 30Interest on long-term debt 17 163 230 241 183 157 133 97 83 85Profit remittances on FDI 0 150 132 24 38 8 16 29 50 35Memo: official net transfers 25 269 1,068 85 10 -1 -26 263 178 48 private net transfers 24 41 -107 -277 -159 -14 -94 -18 -158 -17


Gross national income (GNI) 1,545 7,039 8,089 9,037 10,380 11,172 10,002 10,080 11,141 12,268Exports of goods, serv. & inc. (XGS) .. 2,061 2,233 3,041 3,000 2,889 2,723 2,821 3,024 3,330Worker remit. & comp. of employees 0 11 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 3,095 3,128 3,694 4,029 3,938 3,493 3,947 4,192 3,861International reserves (RES) 220 539 236 776 811 783 792 898 1,065 1,068Current account balance .. -876 -527 -73 -457 -475 -90 -204 -318 ..

4. DEBT INDICATORS


289KENYA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 408 2,493 5,641 5,946 5,409 5,777 5,539 5,239 4,860 5,188Public and publicly guaranteed 321 2,056 4,761 5,571 5,084 5,497 5,319 5,064 4,751 5,139Official creditors 237 1,206 3,715 5,080 4,707 4,931 4,783 4,570 4,416 4,741 Multilateral 38 634 2,492 2,927 2,840 2,985 2,906 2,836 2,763 2,967 Concessional 32 270 1,395 2,402 2,390 2,584 2,576 2,596 2,591 2,806 Bilateral 199 572 1,222 2,153 1,867 1,946 1,876 1,733 1,653 1,774 Concessional 138 414 985 1,529 1,352 1,499 1,539 1,496 1,516 1,644Private creditors 84 849 1,047 491 376 566 537 495 334 398 Bonds 71 10 0 0 0 0 0 0 0 0 Commercial banks 1 394 895 396 326 503 493 461 314 375 Other private 12 445 152 95 50 63 44 33 21 22Private nonguaranteed 88 437 880 375 325 280 220 175 109 49 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 88 437 880 375 325 280 220 175 109 49Memo: IBRD 5 308 871 312 213 154 91 47 23 13 IDA 32 220 1,185 2,062 2,032 2,210 2,220 2,262 2,263 2,447



NET FLOWS ON DEBT 49 424 290 -142 -197 -92 -202 48 -169 -109Public and publicly guaranteed 20 425 272 -72 -147 -47 -141 93 -103 -49Official creditors 30 202 225 52 -76 -91 -135 115 -38 -98 Multilateral 9 141 171 62 14 19 -36 84 33 -6 Concessional 7 94 255 165 108 109 55 147 84 24 Bilateral 21 62 54 -10 -90 -110 -98 31 -71 -92 Concessional 17 61 81 17 -28 -24 -14 73 -28 -67Private creditors -10 222 47 -125 -71 43 -7 -23 -65 49 Bonds -10 0 0 0 0 0 0 0 0 0 Commercial banks 0 189 5 -100 -55 38 17 -19 -63 47 Other private 0 33 42 -25 -17 5 -24 -4 -3 2Private nonguaranteed 30 -1 18 -70 -50 -45 -61 -45 -66 -60 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 30 -1 18 -70 -50 -45 -61 -45 -66 -60Memo: IBRD 2 35 -92 -88 -74 -66 -58 -40 -22 -12 IDA 7 71 230 145 72 108 55 142 81 24

290KENYA



NET TRANSFERS ON DEBT 32 261 60 -384 -380 -249 -335 -50 -252 -194Public and publicly guaranteed 7 301 79 -282 -299 -178 -253 14 -173 -126Official creditors 21 149 91 -110 -192 -200 -222 61 -92 -161 Multilateral 8 105 70 -11 -44 -31 -82 46 3 -35 Concessional 6 92 247 147 90 92 36 128 66 3 Bilateral 13 44 21 -99 -148 -169 -140 15 -94 -127 Concessional 13 53 66 -21 -57 -54 -42 62 -45 -95Private creditors -15 152 -12 -172 -107 22 -30 -47 -81 35 Bonds -13 -1 0 0 0 0 0 0 0 0 Commercial banks 0 159 -47 -140 -87 20 -5 -40 -77 34 Other private -1 -6 35 -31 -20 2 -25 -6 -4 1Private nonguaranteed 25 -40 -20 -102 -81 -71 -82 -64 -79 -68 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 25 -40 -20 -102 -81 -71 -82 -64 -79 -68Memo: IBRD 2 3 -169 -122 -97 -83 -70 -47 -26 -13 IDA 6 70 223 131 57 93 39 125 64 6


UNDISBURSED DEBT 119 1,331 1,967 1,215 1,199 1,305 1,164 1,026 996 1,046Official creditors 119 1,241 1,605 1,083 1,087 1,071 1,032 992 835 848Private creditors 0 91 361 132 112 233 133 33 161 199Memorandum items Concessional LDOD 170 684 2,381 3,931 3,742 4,083 4,115 4,092 4,107 4,450 Variable rate LDOD 88 690 1,090 622 532 460 356 277 176 178 Public sector LDOD 321 2,056 4,761 5,569 5,081 5,495 5,318 5,063 4,750 5,138 Private sector LDOD 88 437 880 378 328 282 222 176 110 49



291KENYA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,168 -502 -356 352 -358 -291 -598 470 Net flows on debt 45 718 615 -251 -13 -148 -328 90 -375 3 Net change in interest arrears .. .. 30 -21 18 31 11 -27 -8 22 Interest capitalized .. .. 0 0 0 0 0 37 15 0 Debt forgiveness or reduction .. .. -84 0 -26 0 0 -10 0 0 Cross-currency valuation .. .. 89 -838 -969 -298 -140 -302 -271 393 Residual .. .. 519 609 634 768 99 -78 41 51

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 2.5 3.5 4.3 1.2 1.8 3.3 3.3 1.1 3.5 3.8 Maturity (years) 37.3 31.3 24.7 35.2 31.4 18.9 28.2 38.6 23.5 11.0 Grace period (years) 7.9 8.0 7.4 8.9 9.1 4.9 5.7 9.9 5.4 2.3 Grant element (%) 62.6 53.3 44.6 70.6 66.5 40.6 46.5 76.2 45.6 25.4Official creditors Interest (%) 2.4 3.5 3.1 0.7 1.6 0.9 2.0 1.1 1.9 0.9 Maturity (years) 37.9 31.5 29.3 38.0 32.9 37.3 37.1 39.0 34.1 31.1 Grace period (years) 8.0 8.1 8.4 9.6 9.6 9.3 7.6 10.0 8.7 8.0 Grant element (%) 63.7 53.6 56.7 76.5 69.6 76.8 61.5 77.1 67.7 69.8Private creditors Interest (%) 7.0 8.0 7.4 6.5 4.3 5.0 7.0 7.5 4.9 4.8 Maturity (years) 11.2 5.9 12.9 5.1 4.1 5.2 3.6 5.9 13.4 3.7 Grace period (years) 1.7 -0.6 4.9 0.9 0.4 1.7 0.6 1.4 2.2 0.2 Grant element (%) 12.4 5.2 13.2 8.6 10.5 13.7 5.0 6.7 24.8 9.2Memorandum items Commitments 50 518 803 403 273 485 144 355 292 252 Official creditors 48 514 579 368 259 206 105 350 142 67 Private creditors 1 4 224 35 14 279 38 5 150 184


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


292KYRGYZ REPUBLIC


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 1,137 1,341 1,505 1,736 1,827 1,712 1,797Long-term debt (LDOD) .. .. .. 989 1,143 1,302 1,485 1,510 1,484 1,593Public and publicly guaranteed .. .. .. 626 751 934 1,134 1,220 1,251 1,394Private nonguaranteed .. .. .. 362 392 368 350 290 234 199Use of IMF credit .. .. .. 140 165 175 190 188 179 185Short-term debt .. .. .. 9 33 28 61 129 48 19of which interest arrears on LDOD .. .. .. 0 0 0 11 10 3 10 Official creditors .. .. .. 0 0 0 10 9 3 1 Private creditors .. .. .. 0 0 0 0 1 0 8Memo: principal arrears on LDOD .. .. .. 3 1 0 21 28 2 10 Official creditors .. .. .. 3 1 0 19 25 1 4 Private creditors .. .. .. 0 0 0 3 3 1 6Memo: export credits .. .. .. 52 54 87 80 76 65 52

TOTAL DEBT FLOWS Disbursements .. .. .. 200 209 179 245 180 134 152Long-term debt .. .. .. 176 165 164 218 161 119 137IMF purchases .. .. .. 23 44 15 27 19 15 15Principal repayments .. .. .. 36 20 53 58 97 128 147Long-term debt .. .. .. 32 10 41 51 86 111 123IMF repurchases .. .. .. 4 10 12 7 11 17 24Net flows on debt .. .. .. 170 214 121 208 152 -69 -30of which short-term debt .. .. .. 6 25 -5 22 69 -75 -35Interest payments (INT) .. .. .. 38 58 62 52 76 49 26Long-term debt .. .. .. 34 54 58 47 69 44 24IMF charges .. .. .. 3 3 3 2 2 2 1Short-term debt .. .. .. 0 1 2 3 5 3 1Net transfers on debt .. .. .. 132 156 59 156 76 -118 -56Total debt service paid (TDS) .. .. .. 74 78 115 110 173 177 173Long-term debt .. .. .. 67 64 99 98 155 155 147IMF repurchases and charges .. .. .. 7 13 14 9 14 19 25Short-term debt (interest only) .. .. .. 0 1 2 3 5 3 1


NET RESOURCE FLOWS .. .. .. 236 284 280 261 117 47 59Net flow of long-term debt (ex. IMF) .. .. .. 144 155 123 167 75 8 14Foreign direct investment (net) .. .. .. 47 84 109 44 -2 5 5Portfolio equity flows .. .. .. 0 0 0 0 0 0 0Grants (excluding technical coop.) .. .. .. 45 45 48 50 44 35 40Memo: technical coop. grants .. .. .. 43 26 43 42 38 42 72 official net resource flows .. .. .. 182 177 192 230 179 121 113 private net resource flows .. .. .. 54 107 88 31 -63 -73 -54

NET TRANSFERS .. .. .. 200 229 214 209 8 -24 15Interest on long-term debt .. .. .. 34 54 58 47 69 44 24Profit remittances on FDI .. .. .. 2 1 8 5 39 27 20Memo: official net transfers .. .. .. 171 159 170 216 159 102 100 private net transfers .. .. .. 28 70 44 -7 -151 -126 -85


Gross national income (GNI) .. .. .. 1,788 1,703 1,567 1,175 1,286 1,460 1,543Exports of goods, serv. & inc. (XGS) .. .. .. 569 685 613 540 633 594 682Worker remit. & comp. of employees .. .. .. 2 3 2 1 43 22 22Imports of goods & services (MGS) .. .. .. 1,076 889 1,023 791 756 642 763International reserves (RES) .. .. .. 95 170 188 254 262 287 317Current account balance .. .. .. -425 -139 -364 -184 -79 -19 -35

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. 199.7 195.7 245.7 321.7 288.8 288.1 263.3EDT / GNI (%) .. .. .. 63.6 78.7 96.1 147.7 142.1 117.3 116.4TDS / XGS (%) .. .. .. 13.0 11.4 18.7 20.4 27.4 29.8 25.3INT / XGS (%) .. .. .. 6.7 8.5 10.1 9.6 12.0 8.2 3.8INT / GNI (%) .. .. .. 2.1 3.4 4.0 4.4 5.9 3.3 1.7RES / EDT (%) .. .. .. 8.3 12.7 12.5 14.6 14.3 16.7 17.7RES / MGS (months) .. .. .. 1.1 2.3 2.2 3.9 4.2 5.4 5.0Short-term / EDT (%) 0.0 0.0 0.0 0.8 2.5 1.9 3.5 7.1 2.8 1.0Concessional / EDT (%) 0.0 0.0 0.0 32.3 34.6 41.9 46.1 48.1 56.4 64.0Multilateral / EDT (%) 0.0 0.0 100.0 25.4 29.4 35.7 37.8 39.5 45.0 49.4

293KYRGYZ REPUBLIC


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 989 1,143 1,302 1,485 1,510 1,484 1,593Public and publicly guaranteed .. .. .. 626 751 934 1,134 1,220 1,251 1,394Official creditors .. .. .. 619 721 901 1,098 1,183 1,216 1,384 Multilateral .. .. .. 289 394 537 657 722 770 888 Concessional .. .. .. 256 358 493 585 647 702 826 Bilateral .. .. .. 331 327 364 441 461 446 496 Concessional .. .. .. 112 106 138 216 233 264 325Private creditors .. .. .. 7 30 33 37 37 35 10 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 7 30 30 30 28 23 0 Other private .. .. .. 0 0 3 7 9 12 10Private nonguaranteed .. .. .. 362 392 368 350 290 234 199 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 362 392 368 350 290 234 199Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 197 251 328 342 377 389 454



NET FLOWS ON DEBT .. .. .. 144 155 123 167 75 8 14Public and publicly guaranteed .. .. .. 144 155 147 184 136 79 49Official creditors .. .. .. 137 132 144 180 136 86 73 Multilateral .. .. .. 111 124 119 119 100 84 60 Concessional .. .. .. 89 119 112 90 97 91 66 Bilateral .. .. .. 26 8 25 61 36 2 14 Concessional .. .. .. 45 5 19 61 40 14 14Private creditors .. .. .. 7 23 3 4 0 -6 -24 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 7 23 0 0 -2 -5 -23 Other private .. .. .. 0 0 3 4 2 -2 -1Private nonguaranteed .. .. .. 0 0 -24 -17 -60 -72 -35 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 -24 -17 -60 -72 -35Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 61 67 66 22 52 27 33

294KYRGYZ REPUBLIC



NET TRANSFERS ON DEBT .. .. .. 109 101 65 120 6 -36 -10Public and publicly guaranteed .. .. .. 133 135 123 169 113 59 36Official creditors .. .. .. 126 113 122 166 115 67 60 Multilateral .. .. .. 108 119 112 112 89 73 50 Concessional .. .. .. 88 117 109 86 92 85 60 Bilateral .. .. .. 18 -6 10 55 27 -6 11 Concessional .. .. .. 43 2 15 57 34 9 13Private creditors .. .. .. 7 22 1 2 -2 -9 -24 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 7 22 -2 -2 -5 -6 -23 Other private .. .. .. 0 0 3 4 2 -2 -1Private nonguaranteed .. .. .. -23 -34 -58 -49 -107 -95 -46 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. -23 -34 -58 -49 -107 -95 -46Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 60 65 64 19 49 24 30


UNDISBURSED DEBT .. .. .. 327 416 561 520 465 403 385Official creditors .. .. .. 327 416 552 515 464 403 385Private creditors .. .. .. 0 0 9 5 1 0 0Memorandum items Concessional LDOD .. .. .. 368 464 631 801 880 966 1,151 Variable rate LDOD .. .. .. 587 644 593 586 525 413 350 Public sector LDOD .. .. .. 626 751 934 1,134 1,220 1,251 1,394 Private sector LDOD .. .. .. 362 392 368 350 290 234 199



295KYRGYZ REPUBLIC




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 528 204 164 231 91 -116 85 Net flows on debt .. .. .. 170 214 121 208 152 -69 -30 Net change in interest arrears .. .. 0 -10 0 0 11 -1 -6 6 Interest capitalized .. .. .. 28 0 0 0 1 13 11 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 0 -47 -64 -9 6 -67 -68 96 Residual .. .. 0 387 54 52 6 6 15 2



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


296LAO PEOPLE'S DEMOCRATIC REPUBLIC


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 6 60 152 197 143 95 81 82 107 97Long-term debt 6 55 152 189 135 95 81 82 101 85IMF purchases 0 4 0 9 8 0 0 0 6 12Principal repayments 1 1 6 22 20 23 28 31 33 34Long-term debt 1 1 5 19 15 16 19 23 24 25IMF repurchases 0 0 1 3 5 6 8 8 9 9Net flows on debt 4 59 147 176 119 66 54 55 68 63of which short-term debt 0 0 1 0 -4 -6 1 4 -6 0Interest payments (INT) 0 1 3 7 8 8 9 10 10 11Long-term debt 0 1 3 6 7 8 9 9 10 10IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt 0 0 0 1 0 0 0 0 0 0Net transfers on debt 4 57 144 169 111 58 45 45 58 52Total debt service paid (TDS) 2 2 9 29 28 31 37 41 44 45Long-term debt 2 2 8 25 22 24 28 32 34 35IMF repurchases and charges 0 0 1 3 5 7 8 8 10 9Short-term debt (interest only) 0 0 0 1 0 0 0 0 0 0



NET TRANSFERS 32 69 196 456 234 176 183 181 148 148Interest on long-term debt 0 1 3 6 7 8 9 9 10 10Profit remittances on FDI 0 0 0 6 11 14 13 37 36 42Memo: official net transfers 32 69 190 303 244 190 196 185 160 165 private net transfers 0 0 6 154 -11 -14 -13 -3 -12 -17


Gross national income (GNI) .. .. 865 1,867 1,704 1,248 1,420 1,670 1,663 1,613Exports of goods, serv. & inc. (XGS) .. .. 105 436 435 494 479 513 483 ..Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. .. 215 783 741 644 629 638 599 ..International reserves (RES) .. .. 8 176 117 117 135 144 151 216Current account balance .. .. -55 -265 -206 -77 90 -8 -82 ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. 1,690.3 518.7 533.1 493.3 527.8 487.5 516.4 ..EDT / GNI (%) .. .. 204.5 121.3 136.1 195.2 177.9 149.8 150.0 165.2TDS / XGS (%) .. .. 8.7 6.7 6.4 6.3 7.7 7.9 9.0 ..INT / XGS (%) .. .. 2.9 1.6 1.8 1.7 2.0 1.9 2.1 ..INT / GNI (%) .. .. 0.4 0.4 0.5 0.7 0.7 0.6 0.6 0.7RES / EDT (%) .. .. 0.5 7.8 5.0 4.8 5.4 5.7 6.0 8.1RES / MGS (months) .. .. 0.5 2.7 1.9 2.2 2.6 2.7 3.0 ..Short-term / EDT (%) 0.0 0.4 0.1 0.5 0.3 0.1 0.1 0.3 0.0 0.0Concessional / EDT (%) 90.2 93.3 99.1 96.4 96.7 97.3 97.7 98.0 98.4 98.3Multilateral / EDT (%) 0.0 5.9 15.1 32.7 35.1 39.0 41.6 41.6 42.0 45.9



5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 8 333 1,757 2,186 2,247 2,373 2,471 2,453 2,456 2,620Public and publicly guaranteed 8 333 1,757 2,186 2,247 2,373 2,471 2,453 2,456 2,620Official creditors 8 327 1,757 2,186 2,247 2,373 2,471 2,453 2,456 2,620 Multilateral 0 21 266 741 814 950 1,050 1,041 1,049 1,223 Concessional 0 21 266 741 814 950 1,050 1,041 1,049 1,223 Bilateral 8 306 1,491 1,445 1,433 1,423 1,421 1,412 1,407 1,397 Concessional 8 306 1,485 1,441 1,430 1,420 1,419 1,410 1,406 1,397Private creditors 1 6 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 1 6 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 6 131 335 358 395 405 403 415 473



NET FLOWS ON DEBT 4 54 146 170 120 78 61 59 77 60Public and publicly guaranteed 4 54 146 170 120 78 61 59 77 60Official creditors 5 54 146 170 120 78 61 59 77 60 Multilateral 0 7 75 150 129 90 65 64 77 73 Concessional 0 7 75 150 129 90 65 64 77 73 Bilateral 5 47 71 20 -9 -12 -4 -5 0 -13 Concessional 5 47 72 20 -9 -11 -3 -5 1 -12Private creditors 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 0 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 5 32 59 41 24 19 17 27 27




NET TRANSFERS ON DEBT 4 53 144 164 112 71 52 49 67 50Public and publicly guaranteed 4 53 144 164 112 71 52 49 67 50Official creditors 4 53 144 164 112 71 52 49 67 50 Multilateral 0 7 73 145 122 83 56 55 68 63 Concessional 0 7 73 145 122 83 56 55 68 63 Bilateral 4 46 70 19 -10 -12 -4 -6 0 -13 Concessional 4 46 71 20 -9 -11 -3 -5 0 -13Private creditors 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 0 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 5 31 57 38 21 16 14 24 24









8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 296 98 57 117 90 -25 -8 170 Net flows on debt 4 59 147 176 119 66 54 55 68 63 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 141 -68 -114 -6 9 -73 -70 100 Residual .. .. 7 -9 51 56 26 -7 -5 8



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


300LATVIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 1,232 2,759 3,115 4,061 4,855 5,710 6,690Long-term debt (LDOD) .. .. .. 300 953 1,348 1,940 1,979 2,651 2,512Public and publicly guaranteed .. .. .. 300 314 404 865 827 978 1,124Private nonguaranteed .. .. .. 0 639 944 1,075 1,151 1,673 1,388Use of IMF credit .. .. .. 130 86 64 47 35 24 16Short-term debt .. .. .. 801 1,720 1,703 2,075 2,842 3,035 4,163of which interest arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: export credits .. .. .. 118 166 82 79 56 48 43

TOTAL DEBT FLOWS Disbursements .. .. .. 59 317 533 849 410 994 580Long-term debt .. .. .. 59 317 533 849 410 994 580IMF purchases .. .. .. 0 0 0 0 0 0 0Principal repayments .. .. .. 39 166 161 219 330 290 490Long-term debt .. .. .. 14 129 136 204 319 280 480IMF repurchases .. .. .. 25 37 25 15 10 10 10Net flows on debt .. .. .. 790 1,070 355 1,002 848 897 1,218of which short-term debt .. .. .. 770 919 -18 372 767 193 1,128Interest payments (INT) .. .. .. 60 110 146 177 270 225 160Long-term debt .. .. .. 17 42 57 71 107 118 95IMF charges .. .. .. 7 5 4 2 2 1 1Short-term debt .. .. .. 36 63 86 103 161 106 64Net transfers on debt .. .. .. 730 960 208 825 578 672 1,058Total debt service paid (TDS) .. .. .. 99 276 308 396 599 516 650Long-term debt .. .. .. 31 171 194 275 426 398 575IMF repurchases and charges .. .. .. 32 42 28 17 12 11 10Short-term debt (interest only) .. .. .. 36 63 86 103 161 106 64


NET RESOURCE FLOWS .. .. .. 466 765 855 1,070 561 959 572Net flow of long-term debt (ex. IMF) .. .. .. 46 188 397 645 91 714 100Foreign direct investment (net) .. .. .. 382 521 357 348 410 164 382Portfolio equity flows .. .. .. -3 6 30 7 -7 1 22Grants (excluding technical coop.) .. .. .. 41 50 71 71 68 80 68Memo: technical coop. grants .. .. .. 29 24 24 20 15 13 10 official net resource flows .. .. .. 81 112 166 350 86 97 77 private net resource flows .. .. .. 385 653 689 720 475 862 496



Gross national income (GNI) .. .. .. 5,137 5,683 6,142 6,594 7,202 7,708 8,387Exports of goods, serv. & inc. (XGS) .. .. .. 2,754 3,050 3,330 3,074 3,547 3,779 4,119Worker remit. & comp. of employees .. .. .. 0 46 49 49 131 206 138Imports of goods & services (MGS) .. .. .. 3,127 3,471 4,101 3,818 4,077 4,493 5,024International reserves (RES) .. .. .. 746 832 873 944 919 1,217 1,327Current account balance .. .. .. -280 -345 -650 -654 -495 -732 -647

4. DEBT INDICATORS


301LATVIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 300 953 1,348 1,940 1,979 2,651 2,512Public and publicly guaranteed .. .. .. 300 314 404 865 827 978 1,124Official creditors .. .. .. 229 273 365 607 591 582 660 Multilateral .. .. .. 164 199 286 535 543 539 606 Concessional .. .. .. 0 0 0 0 0 0 11 Bilateral .. .. .. 66 74 79 72 49 43 54 Concessional .. .. .. 64 70 75 70 48 42 53Private creditors .. .. .. 71 41 39 258 236 397 464 Bonds .. .. .. 34 0 0 226 209 375 446 Commercial banks .. .. .. 6 6 8 6 4 3 2 Other private .. .. .. 30 35 32 26 22 19 16Private nonguaranteed .. .. .. 0 639 944 1,075 1,151 1,673 1,388 Bonds .. .. .. 0 30 30 30 0 0 0 Commercial banks and other .. .. .. 0 609 914 1,045 1,151 1,673 1,388Memo: IBRD .. .. .. 75 120 186 200 242 243 263 IDA .. .. .. 0 0 0 0 0 0 0



NET FLOWS ON DEBT .. .. .. 46 188 397 645 91 714 100Public and publicly guaranteed .. .. .. 46 36 92 515 14 192 3Official creditors .. .. .. 40 63 95 279 18 17 9 Multilateral .. .. .. 32 50 95 283 37 18 3 Concessional .. .. .. 0 0 0 0 0 0 11 Bilateral .. .. .. 8 12 0 -4 -19 -1 6 Concessional .. .. .. 8 10 1 -3 -18 0 6Private creditors .. .. .. 6 -26 -3 235 -4 175 -6 Bonds .. .. .. 0 -33 0 240 0 179 0 Commercial banks .. .. .. 2 0 1 -1 -1 -1 -1 Other private .. .. .. 3 6 -4 -4 -3 -3 -4Private nonguaranteed .. .. .. 0 152 305 131 77 522 97 Bonds .. .. .. 0 30 0 0 -30 0 0 Commercial banks and other .. .. .. 0 122 305 131 107 522 97Memo: IBRD .. .. .. 24 53 78 23 54 11 -3 IDA .. .. .. 0 0 0 0 0 0 0

302LATVIA



NET TRANSFERS ON DEBT .. .. .. 29 146 340 574 -16 596 5Public and publicly guaranteed .. .. .. 29 17 75 494 -36 145 -44Official creditors .. .. .. 27 47 79 260 -15 -17 -22 Multilateral .. .. .. 22 39 83 267 6 -14 -26 Concessional .. .. .. 0 0 0 0 0 0 11 Bilateral .. .. .. 5 8 -3 -7 -22 -3 5 Concessional .. .. .. 5 7 -2 -6 -21 -2 5Private creditors .. .. .. 2 -31 -4 234 -20 162 -23 Bonds .. .. .. -2 -35 0 240 -15 167 -16 Commercial banks .. .. .. 2 0 1 -1 -2 -1 -1 Other private .. .. .. 1 4 -5 -5 -4 -3 -5Private nonguaranteed .. .. .. 0 129 265 80 20 451 49 Bonds .. .. .. 0 30 -2 -2 -32 0 0 Commercial banks and other .. .. .. 0 99 267 82 52 451 49Memo: IBRD .. .. .. 20 47 70 10 42 -2 -14 IDA .. .. .. 0 0 0 0 0 0 0


UNDISBURSED DEBT .. .. .. 312 245 257 262 194 168 188Official creditors .. .. .. 297 232 246 256 192 168 188Private creditors .. .. .. 15 13 11 6 2 0 0Memorandum items Concessional LDOD .. .. .. 64 70 75 70 48 42 64 Variable rate LDOD .. .. .. 206 877 1,262 1,631 1,697 2,198 1,988 Public sector LDOD .. .. .. 288 303 394 858 818 954 1,089 Private sector LDOD .. .. .. 13 650 954 1,082 1,160 1,697 1,423


Euro .. .. .. .. .. .. .. .. 69.9 73.1Deutsche mark .. .. .. 8.1 10.2 17.6 7.5 7.6 .. ..French franc .. .. .. 0.0 0.0 0.0 0.3 0.6 .. ..Japanese yen .. .. .. 23.0 13.7 11.8 5.7 4.7 3.2 2.7Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Swiss franc .. .. .. 0.0 0.0 0.6 0.4 0.6 0.4 0.3U.S.dollars .. .. .. 43.9 43.8 40.6 18.5 20.0 16.2 15.1Multiple currency .. .. .. 24.9 30.9 28.2 14.2 13.7 10.1 8.7Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0All other currencies 0.0 0.0 0.0 0.0 1.4 1.2 53.5 52.8 0.1 0.1

303LATVIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 769 1,528 356 946 794 855 980 Net flows on debt .. .. .. 790 1,070 355 1,002 848 897 1,218 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 0 -20 -25 17 2 -49 -28 125 Residual .. .. 0 -2 483 -16 -57 -5 -14 -363



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


304LEBANON


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 64 510 1,779 3,996 5,029 6,793 8,205 9,856 12,446 17,077Long-term debt (LDOD) 64 216 358 2,343 3,234 4,833 6,003 7,315 9,788 14,530Public and publicly guaranteed 64 216 358 1,933 2,349 4,048 5,332 6,579 8,952 13,829Private nonguaranteed 0 0 0 410 885 785 671 736 836 701Use of IMF credit 0 0 0 0 0 0 0 0 0 0Short-term debt 0 294 1,421 1,653 1,795 1,961 2,202 2,541 2,658 2,547of which interest arrears on LDOD 0 0 39 0 0 0 0 0 0 0 Official creditors 0 0 16 0 0 0 0 0 0 0 Private creditors 0 0 23 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 132 0 0 0 0 0 0 0 Official creditors 0 0 28 0 0 0 0 0 0 0 Private creditors 0 0 104 0 0 0 0 0 0 0Memo: export credits 0 0 345 520 730 316 279 290 455 344

TOTAL DEBT FLOWS Disbursements 12 120 12 830 1,381 1,726 1,556 2,315 3,261 5,649Long-term debt 12 120 12 830 1,381 1,726 1,556 2,315 3,261 5,649IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments 2 7 27 69 437 168 279 876 684 1,114Long-term debt 2 7 27 69 437 168 279 876 684 1,114IMF repurchases 0 0 0 0 0 0 0 0 0 0Net flows on debt 10 236 726 1,059 1,086 1,723 1,519 1,778 2,694 4,424of which short-term debt 0 124 742 298 142 166 241 339 117 -111Interest payments (INT) 1 45 72 231 296 358 489 593 778 1,073Long-term debt 1 6 11 149 201 263 361 461 646 963IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt 0 39 61 83 95 95 128 132 132 110Net transfers on debt 8 191 654 828 791 1,365 1,030 1,185 1,916 3,351Total debt service paid (TDS) 4 53 99 301 733 526 768 1,469 1,462 2,188Long-term debt 4 13 38 218 638 431 640 1,337 1,330 2,078IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0Short-term debt (interest only) 0 39 61 83 95 95 128 132 132 110


NET RESOURCE FLOWS 12 299 203 893 1,214 1,909 1,558 1,871 2,947 4,941Net flow of long-term debt (ex. IMF) 10 112 -16 761 944 1,557 1,277 1,439 2,577 4,535Foreign direct investment (net) 0 -12 7 80 150 200 250 298 249 257Portfolio equity flows 0 0 0 0 0 44 -51 1 8 4Grants (excluding technical coop.) 3 199 213 52 119 108 82 133 113 145Memo: technical coop. grants 9 19 39 98 43 46 59 55 63 78 official net resource flows 12 242 190 276 239 274 164 185 187 138 private net resource flows 0 58 13 618 974 1,635 1,394 1,686 2,760 4,803

NET TRANSFERS 11 293 192 745 1,013 1,646 1,197 1,409 2,301 3,978Interest on long-term debt 1 6 11 149 201 263 361 461 646 963Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0Memo: official net transfers 11 236 181 249 209 240 124 140 159 99 private net transfers 0 57 11 495 804 1,406 1,073 1,269 2,142 3,879


Gross national income (GNI) .. .. 3,461 13,392 15,297 16,991 17,431 17,420 17,651 18,233Exports of goods, serv. & inc. (XGS) .. .. 3,023 3,446 3,616 3,843 4,202 4,655 5,639 5,105Worker remit. & comp. of employees 0 0 1,818 1,225 1,225 1,225 1,402 1,582 2,307 2,307Imports of goods & services (MGS) .. .. 2,908 8,005 8,004 .. .. .. .. ..International reserves (RES) 405 7,025 4,210 9,337 8,653 9,210 10,452 8,475 7,564 10,405Current account balance .. .. 115 -4,507 -4,153 -4,399 -3,317 -3,065 -3,984 ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. 58.8 116.0 139.1 176.8 195.3 211.7 220.7 334.5EDT / GNI (%) .. .. 51.4 29.8 32.9 40.0 47.1 56.6 70.5 93.7TDS / XGS (%) .. .. 3.3 8.7 20.3 13.7 18.3 31.6 25.9 42.9INT / XGS (%) .. .. 2.4 6.7 8.2 9.3 11.6 12.7 13.8 21.0INT / GNI (%) .. .. 2.1 1.7 1.9 2.1 2.8 3.4 4.4 5.9RES / EDT (%) 630.4 1,376.6 236.7 233.6 172.1 135.6 127.4 86.0 60.8 60.9RES / MGS (months) .. .. 17.4 14.0 13.0 .. .. .. .. ..Short-term / EDT (%) 0.0 57.6 79.9 41.4 35.7 28.9 26.8 25.8 21.4 14.9Concessional / EDT (%) 47.4 14.5 6.2 10.4 9.3 8.2 7.1 5.7 4.4 3.2Multilateral / EDT (%) 28.5 15.2 4.7 8.2 7.4 8.1 7.5 6.2 5.3 4.2

305LEBANON


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 64 216 358 2,343 3,234 4,833 6,003 7,315 9,788 14,530Public and publicly guaranteed 64 216 358 1,933 2,349 4,048 5,332 6,579 8,952 13,829Official creditors 64 146 188 629 710 904 948 931 954 1,010 Multilateral 18 78 84 326 371 551 613 616 663 720 Concessional 0 21 30 169 186 262 295 288 286 285 Bilateral 46 68 104 303 339 353 335 315 291 289 Concessional 30 53 81 246 281 294 288 276 256 253Private creditors 0 71 169 1,304 1,639 3,144 4,384 5,648 7,998 12,820 Bonds 0 0 0 800 1,040 2,499 3,681 5,260 7,612 12,517 Commercial banks 0 70 0 482 579 625 686 374 374 291 Other private 0 1 169 22 20 19 17 15 12 12Private nonguaranteed 0 0 0 410 885 785 671 736 836 701 Bonds 0 0 0 410 885 785 671 736 836 701 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 18 27 34 132 151 199 234 248 259 313 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 12 120 12 830 1,381 1,726 1,556 2,315 3,261 5,649Public and publicly guaranteed 12 120 12 470 906 1,726 1,510 2,200 3,061 5,509Official creditors 12 50 5 244 146 193 141 118 123 88 Multilateral 0 17 0 147 75 175 112 102 107 79 Concessional 0 5 0 109 25 76 50 52 31 14 Bilateral 12 32 5 97 71 19 29 16 16 10 Concessional 6 17 5 59 63 18 27 15 15 9Private creditors 0 70 6 227 761 1,532 1,369 2,082 2,937 5,421 Bonds 0 0 0 100 644 1,450 1,240 2,031 2,900 5,420 Commercial banks 0 70 0 126 116 82 129 51 37 1 Other private 0 0 6 1 0 0 0 0 0 0Private nonguaranteed 0 0 0 360 475 0 46 115 200 140 Bonds 0 0 0 360 475 0 46 115 200 140 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 8 0 31 39 48 48 42 48 65 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 2 7 27 69 437 168 279 876 684 1,114Public and publicly guaranteed 2 7 27 69 437 68 119 826 584 839Official creditors 2 7 27 20 26 27 59 66 49 95 Multilateral 1 3 6 8 12 12 32 39 29 66 Concessional 0 0 0 3 4 2 14 18 2 22 Bilateral 1 4 21 12 14 15 27 27 20 29 Concessional 1 4 1 12 13 12 21 21 16 25Private creditors 0 0 0 49 411 41 60 760 534 744 Bonds 0 0 0 0 400 0 0 400 500 659 Commercial banks 0 0 0 9 10 40 58 358 32 84 Other private 0 0 0 40 1 2 2 2 2 1Private nonguaranteed 0 0 0 0 0 100 160 50 100 275 Bonds 0 0 0 0 0 100 160 50 100 275 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 1 3 6 4 8 9 12 17 24 29 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT 10 112 -16 761 944 1,557 1,277 1,439 2,577 4,535Public and publicly guaranteed 10 112 -16 401 469 1,657 1,391 1,374 2,477 4,670Official creditors 10 43 -22 223 120 167 82 52 74 -7 Multilateral -1 14 -6 139 63 163 80 63 78 13 Concessional 0 5 0 106 21 73 37 35 29 -8 Bilateral 11 28 -16 85 57 4 2 -11 -4 -19 Concessional 5 13 4 47 50 7 7 -6 0 -16Private creditors 0 70 6 178 349 1,491 1,309 1,322 2,403 4,677 Bonds 0 0 0 100 244 1,450 1,240 1,631 2,400 4,761 Commercial banks 0 70 0 117 106 42 71 -307 5 -83 Other private 0 0 6 -39 -1 -1 -2 -2 -2 -1Private nonguaranteed 0 0 0 360 475 -100 -114 65 100 -135 Bonds 0 0 0 360 475 -100 -114 65 100 -135 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -1 4 -6 27 32 38 36 26 24 36 IDA 0 0 0 0 0 0 0 0 0 0

306LEBANON



NET TRANSFERS ON DEBT 8 106 -27 612 744 1,295 916 978 1,931 3,572Public and publicly guaranteed 8 106 -27 255 306 1,472 1,099 970 1,895 3,778Official creditors 9 37 -31 197 89 132 43 8 46 -46 Multilateral -2 10 -11 124 44 141 53 30 57 -15 Concessional 0 5 0 102 13 65 26 22 27 -16 Bilateral 11 27 -21 73 46 -9 -10 -23 -11 -31 Concessional 5 12 4 40 42 -1 -1 -14 -6 -23Private creditors 0 69 4 57 216 1,340 1,056 962 1,849 3,824 Bonds 0 0 0 28 164 1,351 1,049 1,331 1,864 3,955 Commercial banks 0 70 0 81 56 -7 11 -365 -11 -130 Other private 0 0 4 -51 -3 -4 -4 -4 -4 -2Private nonguaranteed 0 0 0 358 438 -177 -183 8 35 -206 Bonds 0 0 0 358 438 -177 -183 8 35 -206 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -2 3 -11 19 22 28 24 11 9 22 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) 4 13 38 218 638 431 640 1,337 1,330 2,078Public and publicly guaranteed 4 13 38 216 601 253 412 1,230 1,165 1,732Official creditors 4 13 37 46 57 61 98 111 77 135 Multilateral 2 7 11 23 32 34 59 72 50 94 Concessional 0 1 0 7 12 10 25 31 4 29 Bilateral 1 6 26 23 25 28 39 39 28 41 Concessional 1 6 1 19 21 20 29 29 21 32Private creditors 0 1 2 169 544 192 313 1,120 1,088 1,597 Bonds 0 0 0 72 481 99 191 700 1,036 1,465 Commercial banks 0 0 0 45 60 89 118 416 48 130 Other private 0 0 2 52 3 4 4 4 4 2Private nonguaranteed 0 0 0 2 37 177 229 107 165 346 Bonds 0 0 0 2 37 177 229 107 165 346 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 2 5 11 13 18 20 25 31 38 43 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT 1 401 116 1,207 1,118 988 775 781 654 665Official creditors 1 164 79 875 898 813 712 751 638 642Private creditors 0 237 37 332 220 175 63 31 16 24Memorandum items Concessional LDOD 30 74 111 415 467 557 583 564 543 538 Variable rate LDOD 0 70 0 547 1,048 997 914 1,216 1,325 1,244 Public sector LDOD 64 216 358 1,933 2,349 4,022 5,306 6,553 8,926 13,812 Private sector LDOD 0 0 0 410 885 811 697 762 862 718



307LEBANON




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 755 1,030 1,033 1,764 1,412 1,651 2,590 4,631 Net flows on debt 10 236 726 1,059 1,086 1,723 1,519 1,778 2,694 4,424 Net change in interest arrears .. .. 10 -10 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 17 -27 -48 40 -67 -88 -76 269 Residual .. .. 3 8 -6 2 -40 -39 -28 -62

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 2.9 3.0 0.0 6.5 6.6 8.3 8.7 9.0 10.0 7.2 Maturity (years) 20.4 12.4 0.0 14.6 12.0 6.2 7.4 5.5 6.7 9.8 Grace period (years) 1.4 2.6 0.0 5.0 8.1 4.9 7.0 4.7 6.5 3.4 Grant element (%) 42.0 34.3 0.0 20.9 20.9 7.2 5.4 3.7 -0.9 17.5Official creditors Interest (%) 2.9 2.7 0.0 5.4 2.2 5.9 5.7 7.5 3.2 2.9 Maturity (years) 20.4 15.1 0.0 18.3 22.0 18.7 13.6 14.7 17.0 24.9 Grace period (years) 1.4 3.9 0.0 6.3 6.0 5.7 4.8 5.2 1.8 7.2 Grant element (%) 42.0 42.2 0.0 30.2 53.9 27.0 24.1 14.0 37.3 53.1Private creditors Interest (%) 0.0 3.0 0.0 8.1 8.0 8.5 8.8 9.1 10.1 7.2 Maturity (years) 0.0 11.9 0.0 9.4 8.9 5.0 7.2 4.9 6.6 9.5 Grace period (years) 0.0 2.4 0.0 3.3 8.8 4.9 7.1 4.7 6.6 3.4 Grant element (%) 0.0 32.9 0.0 8.1 10.6 5.3 4.8 3.0 -1.3 17.0Memorandum items Commitments 7 92 0 611 859 1,622 1,297 2,188 2,932 5,501 Official creditors 7 14 0 354 206 136 36 137 31 74 Private creditors 0 78 0 257 654 1,486 1,261 2,051 2,901 5,427


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 208 163 111 77 46 28 16 7 6 2Principal 1,905 2,525 2,171 2,198 730 1,184 1,086 415 402 373Interest 1,137 975 737 484 401 344 251 166 148 132Official creditors Disbursements 189 160 110 77 46 28 16 7 6 2Principal 107 119 128 183 136 135 138 127 117 88Interest 46 46 45 42 37 32 29 23 19 14 Bilateral creditors Disbursements 62 60 37 21 9 5 2 0 0 0 Principal 30 32 32 32 33 31 35 31 30 25 Interest 10 10 10 9 8 7 8 7 6 5 Multilateral creditors Disbursements 127 100 73 55 36 22 14 7 6 2 Principal 77 88 96 150 103 103 103 95 88 63 Interest 36 36 35 33 29 25 21 17 13 9Private creditors Disbursements 19 3 1 0 0 0 0 0 0 0Principal 1,798 2,406 2,044 2,015 594 1,049 948 289 285 285Interest 1,091 928 692 443 365 312 222 142 130 117 Commercial banks Disbursements 19 3 1 0 0 0 0 0 0 0 Principal 62 62 59 51 18 16 15 6 2 2 Interest 22 17 12 7 4 3 2 1 1 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,735 2,343 1,985 1,965 576 1,033 933 283 283 283 Interest 1,069 911 680 435 361 309 221 142 129 117

308LESOTHO


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 0.4 15.0 62.0 76.0 68.2 64.5 52.6 69.3 34.6 42.6Long-term debt 0.4 13.3 57.9 76.0 68.2 64.5 52.6 69.3 25.7 33.5IMF purchases 0.0 1.7 4.1 0.0 0.0 0.0 0.0 0.0 8.9 9.1Principal repayments 0.3 3.4 15.0 22.0 27.4 29.4 32.8 38.8 51.3 52.3Long-term debt 0.3 3.4 14.8 18.6 23.1 24.5 27.0 33.6 47.0 48.4IMF repurchases 0.0 0.0 0.2 3.4 4.3 4.9 5.9 5.2 4.3 3.8Net flows on debt 0.1 19.6 47.0 54.1 40.9 35.1 19.8 30.6 -16.7 -9.7of which short-term debt 0.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Interest payments (INT) 0.2 2.1 8.3 16.2 20.3 22.3 21.9 23.2 17.8 14.9Long-term debt 0.2 1.5 8.0 15.7 20.0 22.0 21.6 23.0 17.6 14.7IMF charges 0.0 0.0 0.1 0.3 0.2 0.1 0.2 0.0 0.1 0.1Short-term debt 0.0 0.6 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1Net transfers on debt -0.1 17.5 38.7 37.9 20.5 12.8 -2.1 7.4 -34.5 -24.6Total debt service paid (TDS) 0.5 5.5 23.3 38.1 47.7 51.7 54.8 62.0 69.1 67.2Long-term debt 0.5 4.8 22.8 34.3 43.1 46.5 48.5 56.6 64.5 63.2IMF repurchases and charges 0.0 0.0 0.3 3.7 4.4 5.0 6.0 5.2 4.4 3.9Short-term debt (interest only) 0.0 0.6 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1


NET RESOURCE FLOWS 7.4 66.5 120.1 389.8 351.9 337.9 211.6 181.1 126.2 108.6Net flow of long-term debt (ex. IMF) 0.1 10.0 43.1 57.5 45.1 40.0 25.7 35.8 -21.3 -14.9Foreign direct investment (net) 0.0 4.5 17.1 287.5 268.1 264.8 163.3 117.8 117.0 80.8Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 7.3 52.0 59.9 44.9 38.7 33.1 22.7 27.6 30.5 42.7Memo: technical coop. grants 2.6 32.0 44.5 31.1 29.0 17.9 12.4 11.3 13.6 12.1 official net resource flows 7.2 59.7 103.0 72.5 62.1 48.2 39.7 68.2 13.8 35.7 private net resource flows 0.1 6.8 17.1 317.4 289.8 289.7 171.9 112.9 112.3 72.8

NET TRANSFERS 7.1 59.0 99.4 329.1 291.3 264.6 161.6 143.2 92.6 80.8Interest on long-term debt 0.2 1.5 8.0 15.7 20.0 22.0 21.6 23.0 17.6 14.7Profit remittances on FDI 0.0 6.0 12.7 45.0 40.6 51.3 28.5 15.0 16.0 13.0Memo: official net transfers 7.1 59.1 96.9 60.2 48.5 35.5 28.0 52.2 2.5 26.8 private net transfers 0.1 -0.1 2.4 268.9 242.8 229.2 133.6 91.0 90.1 54.0


Gross national income (GNI) 89.0 694.8 1,021.4 1,273.5 1,358.2 1,140.6 1,155.2 1,078.7 942.9 955.2Exports of goods, serv. & inc. (XGS) .. 363.5 555.0 683.0 731.2 605.8 541.9 542.7 555.7 568.0Worker remit. & comp. of employees 0.0 263.0 427.9 387.7 378.7 294.6 275.9 252.2 209.4 209.4Imports of goods & services (MGS) .. 482.4 775.9 1,174.1 1,202.0 1,041.8 909.8 832.8 784.2 808.0International reserves (RES) .. 50.3 72.4 460.5 571.7 575.1 499.6 417.9 386.5 406.4Current account balance .. 56.3 65.0 -302.5 -269.2 -280.2 -220.8 -151.4 -95.1 -118.8

4. DEBT INDICATORS

EDT / XGS (%) .. 19.8 71.3 102.7 92.1 113.6 125.9 123.7 106.9 112.2EDT / GNI (%) 9.1 10.4 38.7 55.1 49.6 60.3 59.0 62.2 63.0 66.7TDS / XGS (%) .. 1.5 4.2 5.6 6.5 8.5 10.1 11.4 12.4 11.8INT / XGS (%) .. 0.6 1.5 2.4 2.8 3.7 4.0 4.3 3.2 2.6INT / GNI (%) 0.2 0.3 0.8 1.3 1.5 2.0 1.9 2.2 1.9 1.6RES / EDT (%) .. 69.9 18.3 65.7 84.9 83.6 73.2 62.2 65.1 63.8RES / MGS (months) .. 1.3 1.1 4.7 5.7 6.6 6.6 6.0 5.9 6.0Short-term / EDT (%) 0.0 11.1 0.7 0.6 0.6 0.6 0.6 0.6 0.7 0.6Concessional / EDT (%) 87.0 61.6 73.7 66.8 64.6 65.1 66.5 66.7 71.8 74.1Multilateral / EDT (%) 50.5 56.0 73.6 67.4 69.7 72.7 71.8 70.8 78.3 77.5

309LESOTHO


5. LONG-TERM DEBT




NET FLOWS ON DEBT 0.1 10.0 43.1 57.5 45.1 40.0 25.7 35.8 -21.3 -14.9Public and publicly guaranteed 0.1 10.0 43.1 57.5 45.1 40.0 25.7 35.8 -21.3 -14.9Official creditors -0.1 7.6 43.1 27.6 23.4 15.1 17.1 40.6 -16.6 -7.0 Multilateral 0.0 6.4 26.6 25.8 24.1 13.7 0.1 7.1 6.9 -2.5 Concessional 0.0 6.4 25.3 13.5 15.9 15.6 7.9 3.7 10.9 20.6 Bilateral -0.1 1.3 16.5 1.8 -0.7 1.4 17.0 33.5 -23.5 -4.4 Concessional 0.0 0.7 14.3 -0.6 1.0 1.9 9.8 11.5 -22.6 -3.2Private creditors 0.1 2.3 0.0 29.9 21.7 24.9 8.6 -4.9 -4.7 -8.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 2.0 2.4 30.6 21.5 25.0 8.7 -4.8 -4.6 -7.9 Other private 0.1 0.3 -2.5 -0.8 0.2 -0.1 -0.1 0.0 -0.1 -0.1Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 7.2 6.0 -1.1 -4.1 6.0 -0.8 -21.3 IDA 0.0 3.8 8.6 10.3 10.0 12.5 8.1 5.3 9.5 18.5

310LESOTHO



NET TRANSFERS ON DEBT -0.1 8.5 35.1 41.8 25.1 18.0 4.1 12.8 -38.9 -29.7Public and publicly guaranteed -0.1 8.5 35.1 41.8 25.1 18.0 4.1 12.8 -38.9 -29.7Official creditors -0.2 7.1 37.0 15.4 9.8 2.4 5.4 24.6 -28.0 -15.9 Multilateral 0.0 6.0 21.9 17.7 14.9 4.7 -8.8 -0.6 0.0 -9.7 Concessional 0.0 6.1 23.1 10.4 12.4 11.9 4.2 0.4 7.9 17.0 Bilateral -0.2 1.1 15.2 -2.4 -5.1 -2.3 14.2 25.2 -28.0 -6.1 Concessional -0.1 0.7 13.7 -2.3 -0.6 0.6 8.9 6.3 -26.0 -4.0Private creditors 0.1 1.4 -2.0 26.4 15.3 15.7 -1.2 -11.8 -10.9 -13.8 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 1.8 2.2 27.3 15.2 15.8 -1.1 -11.8 -10.8 -13.7 Other private 0.1 -0.3 -4.1 -1.0 0.1 -0.2 -0.1 0.0 -0.1 -0.1Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 3.4 2.3 -4.7 -7.8 2.8 -3.8 -23.9 IDA 0.0 3.6 7.9 9.1 8.8 11.2 6.7 3.9 8.1 17.0





311LESOTHO




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 67.4 16.9 -27.8 14.8 -6.2 -10.7 -77.2 43.0 Net flows on debt 0.1 19.6 47.0 54.1 40.9 35.1 19.8 30.6 -16.7 -9.7 Net change in interest arrears .. .. 0.8 0.0 0.0 0.1 -0.1 0.0 0.0 0.0 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -3.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 7.2 -45.2 -36.0 0.0 -16.9 -27.0 -25.5 41.6 Residual .. .. 16.2 8.0 -32.6 -20.4 -9.0 -14.2 -35.0 11.1

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 5.0 5.9 1.3 8.2 5.1 4.6 2.7 1.1 0.8 1.0 Maturity (years) 18.1 24.3 24.3 31.9 13.1 23.5 17.1 36.6 42.9 45.0 Grace period (years) 1.9 5.7 6.0 16.4 2.7 6.6 3.5 9.3 13.4 9.4 Grant element (%) 31.9 37.3 63.2 13.4 25.5 39.9 40.0 74.4 82.8 77.8Official creditors Interest (%) 0.0 3.0 1.0 0.8 4.0 4.6 2.7 0.8 0.8 1.0 Maturity (years) 25.0 29.8 25.1 39.5 16.1 23.5 17.4 39.6 42.9 45.0 Grace period (years) 5.5 6.7 6.2 10.0 3.3 6.6 3.5 10.1 13.4 9.4 Grant element (%) 72.7 52.7 65.9 80.3 34.7 39.9 40.6 80.4 82.8 77.8Private creditors Interest (%) 7.5 15.8 8.4 16.3 6.7 0.0 4.1 4.6 0.0 0.0 Maturity (years) 14.6 5.5 5.9 23.5 8.6 0.0 7.1 2.0 0.0 0.0 Grace period (years) 0.1 2.2 1.8 23.5 1.8 0.0 2.6 0.5 0.0 0.0 Grant element (%) 10.9 -15.0 4.3 -59.8 12.0 0.0 20.9 5.9 0.0 0.0Memorandum items Commitments 0 58 46 77 21 67 198 12 43 16 Official creditors 0 45 44 40 12 67 192 11 43 16 Private creditors 0 13 2 37 8 0 6 1 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


312LIBERIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 162 686 1,849 2,107 2,012 2,103 2,077 2,032 2,164 2,324Long-term debt (LDOD) 158 515 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065Public and publicly guaranteed 158 515 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 4 89 322 325 305 317 309 292 281 304Short-term debt 0 81 411 672 646 693 707 699 871 956of which interest arrears on LDOD 0 2 355 617 612 656 668 665 841 926 Official creditors 0 1 251 467 466 506 515 516 697 778 Private creditors 0 1 104 151 146 150 153 149 144 148Memo: principal arrears on LDOD 0 3 722 956 940 991 999 1,053 1,175 1,137 Official creditors 0 2 530 756 749 792 795 856 986 941 Private creditors 0 1 192 199 192 199 204 197 189 196Memo: export credits 0 0 203 382 320 261 314 270 255 182

TOTAL DEBT FLOWS Disbursements 9 109 0 0 0 0 0 0 0 0Long-term debt 7 76 0 0 0 0 0 0 0 0IMF purchases 2 34 0 0 0 0 0 0 0 0Principal repayments 17 18 2 0 0 1 1 1 1 0Long-term debt 11 15 1 0 0 0 0 0 0 0IMF repurchases 5 3 1 0 0 1 1 1 1 0Net flows on debt -7 95 -1 11 -21 3 1 -5 -5 0of which short-term debt 0 4 1 11 -21 4 1 -5 -5 0Interest payments (INT) 6 35 1 1 0 0 2 0 0 1Long-term debt 6 23 1 0 0 0 0 0 0 0IMF charges 0 2 0 1 0 0 2 0 0 1Short-term debt 0 11 0 0 0 0 0 0 0 0Net transfers on debt -13 60 -2 10 -21 3 -1 -5 -6 -1Total debt service paid (TDS) 23 54 3 1 0 1 3 1 1 1Long-term debt 17 38 2 0 0 0 0 0 0 0IMF repurchases and charges 5 5 1 1 0 1 3 1 1 1Short-term debt (interest only) 0 11 0 0 0 0 0 0 0 0


NET RESOURCE FLOWS -3 83 59 -37 283 250 339 -384 12 -18Net flow of long-term debt (ex. IMF) -4 60 -1 0 0 0 0 0 0 0Foreign direct investment (net) 0 0 0 -132 214 190 256 -431 -20 -65Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 1 23 60 95 69 60 82 47 32 47Memo: technical coop. grants 8 24 21 10 15 18 20 24 15 13 official net resource flows 4 84 59 95 69 60 82 47 32 47 private net resource flows -7 0 0 -132 214 190 256 -431 -20 -65

NET TRANSFERS -9 61 58 -38 283 250 339 -384 12 -18Interest on long-term debt 6 23 1 0 0 0 0 0 0 0Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0Memo: official net transfers 1 77 58 94 69 60 82 47 32 47 private net transfers -9 -16 0 -132 214 190 256 -431 -20 -65


Gross national income (GNI) 343 930 .. .. 263 321 335 425 425 477Exports of goods, serv. & inc. (XGS) 217 614 .. .. .. .. 64 134 143 163Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) 231 575 .. .. .. .. .. .. .. ..International reserves (RES) .. 5 .. 0 0 1 0 0 0 3Current account balance -16 46 .. .. .. .. -125 -83 -110 -29

4. DEBT INDICATORS

EDT / XGS (%) 74.8 111.8 .. .. .. .. 3,230.7 1,513.6 1,517.1 1,423.4EDT / GNI (%) 47.4 73.8 .. .. 765.8 655.3 619.7 478.4 509.1 487.3TDS / XGS (%) 10.4 8.7 .. .. .. .. 4.0 0.5 0.6 0.6INT / XGS (%) 2.8 5.8 .. .. .. .. 3.1 0.0 0.2 0.4INT / GNI (%) 1.8 3.8 .. .. 0.1 0.1 0.6 0.0 0.1 0.1RES / EDT (%) .. 0.8 .. 0.0 0.0 0.0 0.0 0.0 0.0 0.1RES / MGS (months) .. 0.1 .. .. .. .. .. .. .. ..Short-term / EDT (%) 0.0 11.8 22.2 31.9 32.1 33.0 34.0 34.4 40.2 41.1Concessional / EDT (%) 67.7 30.8 32.1 28.9 29.1 28.5 28.0 27.9 25.7 25.0Multilateral / EDT (%) 4.8 19.1 23.4 20.1 20.1 19.9 19.2 19.5 17.7 17.5

313LIBERIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 158 515 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065Public and publicly guaranteed 158 515 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065Official creditors 124 359 924 911 869 894 858 843 823 869 Multilateral 8 131 433 424 405 418 398 395 383 407 Concessional 0 33 184 202 197 200 198 194 191 197 Bilateral 116 229 491 486 465 475 460 448 440 462 Concessional 110 179 410 408 388 398 384 374 366 385Private creditors 34 156 192 199 192 199 204 197 189 196 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 129 172 180 173 180 187 180 172 177 Other private 34 27 20 20 19 19 18 17 17 18Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 7 69 143 146 136 143 125 130 123 137 IDA 0 23 105 106 102 105 103 100 98 102



NET FLOWS ON DEBT -4 60 -1 0 0 0 0 0 0 0Public and publicly guaranteed -4 60 -1 0 0 0 0 0 0 0Official creditors 3 61 -1 0 0 0 0 0 0 0 Multilateral 2 31 -1 0 0 0 0 0 0 0 Concessional 0 8 0 0 0 0 0 0 0 0 Bilateral 0 30 0 0 0 0 0 0 0 0 Concessional -1 29 0 0 0 0 0 0 0 0Private creditors -7 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 3 0 0 0 0 0 0 0 0 Other private -7 -3 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 2 16 0 0 0 0 0 0 0 0 IDA 0 5 0 0 0 0 0 0 0 0

314LIBERIA



NET TRANSFERS ON DEBT -10 38 -2 0 0 0 0 0 0 0Public and publicly guaranteed -10 38 -2 0 0 0 0 0 0 0Official creditors -1 54 -2 0 0 0 0 0 0 0 Multilateral 2 25 -2 0 0 0 0 0 0 0 Concessional 0 8 0 0 0 0 0 0 0 0 Bilateral -2 28 0 0 0 0 0 0 0 0 Concessional -3 28 0 0 0 0 0 0 0 0Private creditors -9 -16 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -11 0 0 0 0 0 0 0 0 Other private -9 -5 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 1 12 0 0 0 0 0 0 0 0 IDA 0 5 0 0 0 0 0 0 0 0


UNDISBURSED DEBT 20 228 84 17 15 16 3 0 0 0Official creditors 18 220 84 17 15 16 3 0 0 0Private creditors 2 8 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD 110 211 594 610 585 598 582 567 556 582 Variable rate LDOD 0 100 123 123 123 123 123 123 123 123 Public sector LDOD 158 514 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065 Private sector LDOD 0 1 0 0 0 0 0 0 0 0



315LIBERIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 164 -48 -95 91 -26 -46 132 161 Net flows on debt -7 95 -1 11 -21 3 1 -5 -5 0 Net change in interest arrears .. .. 87 4 -5 44 12 -3 176 85 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 63 -63 -66 34 -35 -32 -38 73 Residual .. .. 15 1 -2 10 -3 -6 -1 3



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


316LITHUANIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 1,258 3,262 3,741 4,528 4,856 5,253 6,199Long-term debt (LDOD) .. .. .. 828 1,962 2,446 3,228 3,550 3,543 3,955Public and publicly guaranteed .. .. .. 736 1,053 1,221 2,123 2,188 2,363 2,486Private nonguaranteed .. .. .. 92 909 1,226 1,106 1,362 1,180 1,469Use of IMF credit .. .. .. 273 270 253 230 192 151 121Short-term debt .. .. .. 157 1,030 1,042 1,070 1,114 1,558 2,123of which interest arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: export credits .. .. .. 179 189 97 75 62 64 45

TOTAL DEBT FLOWS Disbursements .. .. .. 464 813 904 1,701 1,120 1,726 936Long-term debt .. .. .. 419 757 904 1,701 1,120 1,726 936IMF purchases .. .. .. 45 57 0 0 0 0 0Principal repayments .. .. .. 82 250 695 640 883 1,659 952Long-term debt .. .. .. 57 207 667 623 856 1,625 912IMF repurchases .. .. .. 25 43 28 17 27 34 40Net flows on debt .. .. .. 490 1,437 220 1,089 281 511 549of which short-term debt .. .. .. 107 873 12 28 44 444 565Interest payments (INT) .. .. .. 42 125 194 221 277 278 329Long-term debt .. .. .. 24 77 121 150 212 209 235IMF charges .. .. .. 12 12 12 10 11 8 4Short-term debt .. .. .. 7 35 61 61 55 60 90Net transfers on debt .. .. .. 448 1,312 26 868 4 234 220Total debt service paid (TDS) .. .. .. 124 375 890 861 1,160 1,937 1,281Long-term debt .. .. .. 81 284 788 774 1,068 1,834 1,147IMF repurchases and charges .. .. .. 36 55 40 26 38 42 44Short-term debt (interest only) .. .. .. 7 35 61 61 55 60 90


NET RESOURCE FLOWS .. .. .. 573 999 1,263 1,657 832 624 856Net flow of long-term debt (ex. IMF) .. .. .. 362 549 236 1,077 264 101 24Foreign direct investment (net) .. .. .. 152 355 926 487 379 446 713Portfolio equity flows .. .. .. 16 31 11 9 122 -16 6Grants (excluding technical coop.) .. .. .. 43 64 90 84 67 94 114Memo: technical coop. grants .. .. .. 36 32 26 30 23 21 22 official net resource flows .. .. .. 155 133 206 158 111 104 97 private net resource flows .. .. .. 418 865 1,058 1,499 721 521 760

NET TRANSFERS .. .. .. 522 845 994 1,341 497 270 498Interest on long-term debt .. .. .. 24 77 121 150 212 209 235Profit remittances on FDI .. .. .. 27 77 149 166 124 145 124Memo: official net transfers .. .. .. 140 112 180 126 76 76 62 private net transfers .. .. .. 382 733 813 1,215 421 195 436


Gross national income (GNI) .. .. .. 7,791 9,432 10,633 10,394 10,981 11,695 13,618Exports of goods, serv. & inc. (XGS) .. .. .. 4,265 5,306 5,197 4,355 5,297 6,255 7,719Worker remit. & comp. of employees .. .. .. 3 3 3 3 50 79 109Imports of goods & services (MGS) .. .. .. 5,129 6,516 6,728 5,710 6,212 7,083 8,633International reserves (RES) .. .. .. 841 1,064 1,463 1,249 1,363 1,669 2,420Current account balance .. .. .. -723 -981 -1,298 -1,194 -675 -574 -721

4. DEBT INDICATORS


317LITHUANIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 828 1,962 2,446 3,228 3,550 3,543 3,955Public and publicly guaranteed .. .. .. 736 1,053 1,221 2,123 2,188 2,363 2,486Official creditors .. .. .. 410 450 584 628 647 657 684 Multilateral .. .. .. 228 248 344 384 425 454 447 Concessional .. .. .. 0 0 0 0 0 4 7 Bilateral .. .. .. 182 202 240 244 223 204 236 Concessional .. .. .. 116 118 126 122 113 104 99Private creditors .. .. .. 326 603 637 1,495 1,541 1,706 1,802 Bonds .. .. .. 110 200 200 903 1,130 1,258 1,258 Commercial banks .. .. .. 60 169 204 309 190 258 381 Other private .. .. .. 156 234 233 282 221 190 163Private nonguaranteed .. .. .. 92 909 1,226 1,106 1,362 1,180 1,469 Bonds .. .. .. 0 0 0 0 37 37 39 Commercial banks and other .. .. .. 92 909 1,226 1,106 1,325 1,144 1,429Memo: IBRD .. .. .. 101 114 174 200 253 273 279 IDA .. .. .. 0 0 0 0 0 0 0

DISBURSEMENTS .. .. .. 419 757 904 1,701 1,120 1,726 936Public and publicly guaranteed .. .. .. 384 557 208 1,076 457 399 234Official creditors .. .. .. 130 87 140 106 124 68 117 Multilateral .. .. .. 81 48 96 85 117 67 41 Concessional .. .. .. 0 0 0 0 0 4 3 Bilateral .. .. .. 49 39 45 22 7 1 76 Concessional .. .. .. 16 8 7 1 2 1 0Private creditors .. .. .. 253 469 68 969 333 331 117 Bonds .. .. .. 110 200 0 745 300 179 0 Commercial banks .. .. .. 60 150 46 124 31 151 117 Other private .. .. .. 83 119 22 100 2 1 0Private nonguaranteed .. .. .. 36 200 695 625 663 1,327 702 Bonds .. .. .. 0 0 0 0 37 0 0 Commercial banks and other .. .. .. 36 200 695 625 626 1,327 702Memo: IBRD .. .. .. 44 21 60 30 66 40 16 IDA .. .. .. 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. .. 57 207 667 623 856 1,625 912Public and publicly guaranteed .. .. .. 52 201 65 89 310 178 402Official creditors .. .. .. 18 18 25 33 80 57 135 Multilateral .. .. .. 6 8 10 10 62 26 84 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 12 10 15 22 18 32 51 Concessional .. .. .. 3 2 3 10 7 7 7Private creditors .. .. .. 34 182 41 56 230 121 267 Bonds .. .. .. 0 110 0 0 25 0 200 Commercial banks .. .. .. 0 40 12 15 147 79 37 Other private .. .. .. 34 32 29 41 57 42 30Private nonguaranteed .. .. .. 5 7 602 535 546 1,447 510 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 5 7 602 535 546 1,447 510Memo: IBRD .. .. .. 0 3 3 4 9 13 26 IDA .. .. .. 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. 362 549 236 1,077 264 101 24Public and publicly guaranteed .. .. .. 331 356 143 987 147 221 -168Official creditors .. .. .. 112 69 116 74 44 10 -18 Multilateral .. .. .. 75 40 86 74 55 41 -43 Concessional .. .. .. 0 0 0 0 0 4 3 Bilateral .. .. .. 37 29 30 -1 -11 -31 26 Concessional .. .. .. 13 6 4 -9 -5 -6 -7Private creditors .. .. .. 219 287 27 914 103 211 -150 Bonds .. .. .. 110 90 0 745 275 179 -200 Commercial banks .. .. .. 60 110 34 109 -116 73 80 Other private .. .. .. 49 87 -7 59 -56 -41 -30Private nonguaranteed .. .. .. 31 193 93 90 117 -120 192 Bonds .. .. .. 0 0 0 0 37 0 0 Commercial banks and other .. .. .. 31 193 93 90 80 -120 192Memo: IBRD .. .. .. 44 18 57 26 57 27 -10 IDA .. .. .. 0 0 0 0 0 0 0

318LITHUANIA



NET TRANSFERS ON DEBT .. .. .. 338 472 115 927 52 -108 -211Public and publicly guaranteed .. .. .. 310 312 94 912 11 72 -338Official creditors .. .. .. 97 47 90 42 9 -18 -52 Multilateral .. .. .. 65 26 69 53 29 19 -67 Concessional .. .. .. 0 0 0 0 0 4 3 Bilateral .. .. .. 32 22 22 -11 -20 -37 15 Concessional .. .. .. 11 4 2 -12 -8 -9 -11Private creditors .. .. .. 213 265 4 870 3 90 -286 Bonds .. .. .. 110 82 -7 731 212 94 -300 Commercial banks .. .. .. 60 106 29 93 -136 51 56 Other private .. .. .. 43 77 -18 46 -74 -55 -42Private nonguaranteed .. .. .. 28 160 21 15 41 -180 127 Bonds .. .. .. 0 0 0 0 37 -3 -3 Commercial banks and other .. .. .. 28 160 21 15 4 -177 130Memo: IBRD .. .. .. 39 11 49 15 42 12 -24 IDA .. .. .. 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. .. 81 284 788 774 1,068 1,834 1,147Public and publicly guaranteed .. .. .. 74 244 114 164 445 328 572Official creditors .. .. .. 33 40 50 64 115 86 169 Multilateral .. .. .. 17 23 27 32 88 48 107 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 17 17 23 33 27 38 62 Concessional .. .. .. 5 4 6 13 10 10 11Private creditors .. .. .. 40 205 64 100 330 242 403 Bonds .. .. .. 0 118 7 14 88 85 300 Commercial banks .. .. .. 0 45 17 32 167 101 61 Other private .. .. .. 40 42 40 54 75 56 42Private nonguaranteed .. .. .. 7 40 674 610 622 1,507 575 Bonds .. .. .. 0 0 0 0 0 3 3 Commercial banks and other .. .. .. 7 40 674 610 622 1,504 572Memo: IBRD .. .. .. 4 10 12 15 24 28 40 IDA .. .. .. 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. .. 586 380 352 235 575 316 193Official creditors .. .. .. 380 296 247 209 241 155 131Private creditors .. .. .. 205 84 106 26 335 162 62Memorandum items Concessional LDOD .. .. .. 116 118 126 122 113 107 106 Variable rate LDOD .. .. .. 428 1,412 1,868 1,976 2,099 1,859 2,091 Public sector LDOD .. .. .. 726 990 1,130 2,036 2,111 2,295 2,431 Private sector LDOD .. .. .. 102 972 1,316 1,193 1,439 1,249 1,524



319LITHUANIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 489 2,004 479 787 327 397 946 Net flows on debt .. .. .. 490 1,437 220 1,089 281 511 549 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 0 -30 -53 36 -30 -95 -84 380 Residual .. .. 0 29 621 222 -271 142 -31 18

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. 6.9 6.3 5.2 7.4 7.6 6.5 2.4 Maturity (years) .. .. .. 11.2 6.0 8.7 5.1 6.8 7.7 13.6 Grace period (years) .. .. .. 2.8 3.7 3.0 3.9 5.5 6.9 2.1 Grant element (%) .. .. .. 13.7 13.2 18.1 8.8 10.1 17.4 37.4Official creditors Interest (%) .. .. .. 6.6 6.5 4.7 4.5 7.2 5.0 2.4 Maturity (years) .. .. .. 15.0 17.1 13.7 15.3 13.2 17.5 13.6 Grace period (years) .. .. .. 4.3 4.2 4.1 6.3 8.0 5.4 2.1 Grant element (%) .. .. .. 18.1 18.6 26.4 34.8 16.9 30.9 37.4Private creditors Interest (%) .. .. .. 7.3 6.2 5.7 7.8 7.7 6.6 0.0 Maturity (years) .. .. .. 6.4 5.6 4.2 4.0 5.0 7.0 0.0 Grace period (years) .. .. .. 0.9 3.6 2.0 3.6 4.7 7.0 0.0 Grant element (%) .. .. .. 7.9 13.0 10.6 6.1 8.1 16.4 0.0Memorandum items Commitments .. .. .. 504 458 143 1,005 828 192 54 Official creditors .. .. .. 285 18 68 95 184 13 54 Private creditors .. .. .. 218 440 75 911 644 179 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 92 44 28 15 8 4 1 0 0 0Principal 1,288 680 1,308 132 77 279 62 41 41 29Interest 198 130 80 35 28 26 10 8 7 5Official creditors Disbursements 33 42 27 15 8 4 1 0 0 0Principal 84 76 104 69 58 57 54 41 41 29Interest 27 23 20 16 14 12 10 8 7 5 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 51 41 39 21 10 8 6 4 5 5 Interest 12 9 6 3 3 2 2 2 2 2 Multilateral creditors Disbursements 33 42 26 15 8 4 1 0 0 0 Principal 33 35 65 48 48 48 48 37 36 24 Interest 14 14 14 13 11 9 8 6 5 4Private creditors Disbursements 59 2 1 0 0 0 0 0 0 0Principal 1,205 604 1,205 63 19 223 8 0 0 0Interest 172 108 60 19 15 14 0 0 0 0 Commercial banks Disbursements 59 2 1 0 0 0 0 0 0 0 Principal 32 17 356 12 12 10 5 0 0 0 Interest 27 28 15 1 1 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,173 587 848 51 7 213 3 0 0 0 Interest 144 80 46 18 14 14 0 0 0 0

320MACEDONIA, FYR


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 1,818 1,234 1,481 1,430 1,465 1,458 1,619Long-term debt (LDOD) .. .. .. 1,481 1,008 1,242 1,260 1,319 1,319 1,477Public and publicly guaranteed .. .. .. 856 942 1,054 1,138 1,192 1,145 1,262Private nonguaranteed .. .. .. 625 67 189 122 127 174 214Use of IMF credit .. .. .. 68 88 102 102 81 71 67Short-term debt .. .. .. 269 137 136 68 65 68 76of which interest arrears on LDOD .. .. .. 183 3 3 2 4 10 15 Official creditors .. .. .. 19 0 2 0 2 7 10 Private creditors .. .. .. 164 3 2 2 2 3 5Memo: principal arrears on LDOD .. .. .. 85 9 6 8 19 28 27 Official creditors .. .. .. 7 3 4 0 0 4 12 Private creditors .. .. .. 78 6 2 8 19 24 15Memo: export credits .. .. .. 124 224 208 191 197 178 152

TOTAL DEBT FLOWS Disbursements .. .. .. 127 147 264 233 149 148 245Long-term debt .. .. .. 113 122 252 214 145 148 245IMF purchases .. .. .. 14 25 12 19 4 0 0Principal repayments .. .. .. 27 50 93 105 93 136 186Long-term debt .. .. .. 26 49 91 88 74 128 177IMF repurchases .. .. .. 1 0 2 17 19 8 9Net flows on debt .. .. .. 186 146 170 61 51 9 62of which short-term debt .. .. .. 85 48 -1 -67 -5 -3 3Interest payments (INT) .. .. .. 32 70 65 53 45 59 52Long-term debt .. .. .. 24 62 55 45 37 54 49IMF charges .. .. .. 3 3 3 3 3 2 1Short-term debt .. .. .. 5 5 7 5 5 3 2Net transfers on debt .. .. .. 153 76 105 8 6 -50 10Total debt service paid (TDS) .. .. .. 59 120 158 158 138 195 238Long-term debt .. .. .. 50 111 146 133 111 183 226IMF repurchases and charges .. .. .. 4 3 5 20 22 10 10Short-term debt (interest only) .. .. .. 5 5 7 5 5 3 2





Gross national income (GNI) .. .. .. 4,371 3,680 3,526 3,631 3,541 3,396 3,760Exports of goods, serv. & inc. (XGS) .. .. .. 1,392 1,425 1,528 1,563 1,760 1,521 1,507Worker remit. & comp. of employees .. .. .. 68 78 63 77 81 73 106Imports of goods & services (MGS) .. .. .. 1,848 1,934 2,084 1,983 2,366 2,039 2,238International reserves (RES) .. .. .. 268 280 335 460 460 799 790Current account balance .. .. .. -288 -275 -270 -32 -72 -244 -325

4. DEBT INDICATORS


321MACEDONIA, FYR


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 1,481 1,008 1,242 1,260 1,319 1,319 1,477Public and publicly guaranteed .. .. .. 856 942 1,054 1,138 1,192 1,145 1,262Official creditors .. .. .. 675 706 803 860 908 863 980 Multilateral .. .. .. 348 401 462 530 562 554 658 Concessional .. .. .. 130 178 216 269 297 307 378 Bilateral .. .. .. 326 305 341 330 346 308 322 Concessional .. .. .. 26 24 41 39 42 29 32Private creditors .. .. .. 182 235 250 278 284 283 282 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 100 230 240 269 274 273 275 Other private .. .. .. 82 5 10 10 10 9 7Private nonguaranteed .. .. .. 625 67 189 122 127 174 214 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 625 67 189 122 127 174 214Memo: IBRD .. .. .. 78 85 108 110 116 117 138 IDA .. .. .. 125 146 181 223 249 254 293



NET FLOWS ON DEBT .. .. .. 87 73 161 126 71 20 68Public and publicly guaranteed .. .. .. 87 80 94 130 66 -29 32Official creditors .. .. .. 87 80 89 109 67 -28 32 Multilateral .. .. .. 72 81 63 100 59 4 37 Concessional .. .. .. 44 57 30 62 44 12 38 Bilateral .. .. .. 15 -1 26 9 8 -32 -5 Concessional .. .. .. 7 0 16 2 7 -12 -1Private creditors .. .. .. 0 0 5 22 0 -2 -1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. -1 0 0 22 -2 -1 2 Other private .. .. .. 1 -1 5 0 1 -1 -3Private nonguaranteed .. .. .. 0 -7 67 -5 5 49 36 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 -7 67 -5 5 49 36Memo: IBRD .. .. .. -13 13 39 9 10 5 10 IDA .. .. .. 44 29 29 45 38 15 18

322MACEDONIA, FYR



NET TRANSFERS ON DEBT .. .. .. 63 11 106 81 34 -34 19Public and publicly guaranteed .. .. .. 63 19 46 95 36 -77 -10Official creditors .. .. .. 63 19 52 83 47 -65 1 Multilateral .. .. .. 56 46 46 82 40 -17 19 Concessional .. .. .. 43 56 27 60 40 8 34 Bilateral .. .. .. 6 -26 6 1 7 -47 -17 Concessional .. .. .. 7 -1 15 2 6 -13 -2Private creditors .. .. .. 0 -1 -6 12 -11 -13 -11 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. -1 0 -10 13 -12 -11 -9 Other private .. .. .. 1 -1 5 -1 1 -1 -3Private nonguaranteed .. .. .. 0 -8 59 -14 -2 43 29 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 -8 59 -14 -2 43 29Memo: IBRD .. .. .. -19 7 34 1 2 -3 2 IDA .. .. .. 43 28 28 44 37 13 16


UNDISBURSED DEBT .. .. .. 118 131 290 305 253 235 181Official creditors .. .. .. 112 125 280 299 248 230 176Private creditors .. .. .. 6 5 11 5 5 6 5Memorandum items Concessional LDOD .. .. .. 156 202 258 308 339 336 410 Variable rate LDOD .. .. .. 961 490 669 610 658 689 769 Public sector LDOD .. .. .. 849 931 1,043 1,131 1,187 1,142 1,259 Private sector LDOD .. .. .. 632 77 200 129 132 177 218



323MACEDONIA, FYR




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 541 -585 247 -51 36 -7 161 Net flows on debt .. .. .. 186 146 170 61 51 9 62 Net change in interest arrears .. .. 0 41 -180 0 -1 2 7 4 Interest capitalized .. .. 0 9 76 0 0 15 0 0 Debt forgiveness or reduction .. .. 0 0 -129 0 0 0 0 0 Cross-currency valuation .. .. 0 -74 -132 -55 -41 -36 -26 72 Residual .. .. 0 380 -365 132 -70 3 3 23



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


324MADAGASCAR


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 485 1,248 3,704 4,146 4,109 4,394 4,755 4,701 4,160 4,518Long-term debt (LDOD) 485 918 3,335 3,552 3,875 4,106 4,369 4,295 3,793 4,137Public and publicly guaranteed 485 918 3,335 3,552 3,875 4,106 4,369 4,295 3,793 4,137Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 87 144 73 69 58 63 104 127 150Short-term debt 0 244 226 521 165 230 324 301 239 231of which interest arrears on LDOD 0 6 126 502 154 149 150 204 146 142 Official creditors 0 2 116 482 138 136 136 190 133 129 Private creditors 0 4 10 20 15 14 14 14 13 13Memo: principal arrears on LDOD 0 11 266 1,263 600 604 614 666 618 597 Official creditors 0 6 245 1,210 573 584 589 636 585 560 Private creditors 0 5 20 53 27 20 25 30 33 36Memo: export credits 0 0 795 810 811 472 425 431 413 633

TOTAL DEBT FLOWS Disbursements 54 444 231 156 336 102 147 200 169 201Long-term debt 54 375 213 137 318 102 128 150 140 186IMF purchases 0 70 17 20 19 0 19 50 29 15Principal repayments 45 44 121 60 118 72 76 79 35 39Long-term debt 45 42 69 43 100 58 64 74 34 37IMF repurchases 0 2 51 17 18 14 12 5 1 2Net flows on debt 9 475 194 60 210 99 165 45 130 158of which short-term debt 0 75 83 -36 -8 69 94 -76 -4 -4Interest payments (INT) 16 56 102 23 94 53 83 38 33 34Long-term debt 16 26 85 18 93 51 76 28 28 30IMF charges 0 1 10 1 0 0 0 0 1 1Short-term debt 0 29 7 4 1 2 6 9 4 4Net transfers on debt -7 419 91 37 116 46 82 7 98 124Total debt service paid (TDS) 61 100 223 83 212 125 159 117 67 73Long-term debt 61 68 155 62 193 109 140 102 62 67IMF repurchases and charges 0 3 61 17 18 14 13 5 1 2Short-term debt (interest only) 0 29 7 4 1 2 6 9 4 4


NET RESOURCE FLOWS 39 362 514 305 797 416 304 274 339 262Net flow of long-term debt (ex. IMF) 9 333 144 93 217 44 65 76 106 149Foreign direct investment (net) 10 -1 22 10 14 17 58 83 93 8Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 20 30 348 202 566 355 181 115 140 105Memo: technical coop. grants 21 51 84 117 111 95 93 86 81 88 official net resource flows 30 223 507 300 784 400 246 191 248 254 private net resource flows 9 139 7 5 13 16 58 83 91 8

NET TRANSFERS 23 334 428 278 697 358 218 241 306 227Interest on long-term debt 16 26 85 18 93 51 76 28 28 30Profit remittances on FDI 0 1 1 9 7 7 9 4 5 4Memo: official net transfers 14 215 435 283 692 349 170 163 220 225 private net transfers 9 119 -6 -5 5 9 49 78 86 3


Gross national income (GNI) 1,109 4,024 2,958 3,837 3,454 3,665 3,675 3,807 4,470 4,332Exports of goods, serv. & inc. (XGS) .. 519 490 815 808 854 931 1,210 1,303 736Worker remit. & comp. of employees 0 0 5 6 6 6 6 6 6 6Imports of goods & services (MGS) .. 1,121 985 1,171 1,195 1,231 1,262 1,584 1,572 1,101International reserves (RES) 37 9 92 241 282 171 227 285 398 363Current account balance .. -556 -265 -153 -202 -289 -225 -260 -140 -270

4. DEBT INDICATORS


325MADAGASCAR


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 485 918 3,335 3,552 3,875 4,106 4,369 4,295 3,793 4,137Public and publicly guaranteed 485 918 3,335 3,552 3,875 4,106 4,369 4,295 3,793 4,137Official creditors 484 572 3,195 3,475 3,830 4,065 4,329 4,256 3,721 4,044 Multilateral 42 182 1,231 1,604 1,661 1,781 1,801 1,828 1,851 2,129 Concessional 10 148 1,075 1,452 1,560 1,692 1,732 1,765 1,793 2,068 Bilateral 443 390 1,964 1,871 2,169 2,284 2,527 2,429 1,870 1,915 Concessional 442 319 648 680 1,121 1,221 1,185 1,109 970 997Private creditors 1 346 140 77 45 41 40 39 73 93 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 134 38 25 24 24 23 23 56 77 Other private 1 212 102 51 21 17 17 17 16 17Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 2 30 26 7 3 1 0 0 0 0 IDA 10 122 770 1,147 1,212 1,317 1,361 1,378 1,409 1,652



NET FLOWS ON DEBT 9 333 144 93 217 44 65 76 106 149Public and publicly guaranteed 9 333 144 93 217 44 65 76 106 149Official creditors 10 193 159 98 219 45 65 77 108 149 Multilateral 3 41 117 72 145 61 84 106 118 161 Concessional 5 38 111 71 183 78 95 109 116 165 Bilateral 7 152 42 26 73 -16 -19 -30 -10 -12 Concessional 7 97 68 24 -24 -15 -11 -29 -9 -11Private creditors -1 140 -15 -5 -1 -1 -1 0 -2 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 50 -10 -2 0 0 0 0 -2 0 Other private -1 89 -5 -3 -1 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 1 1 -3 -4 -4 -1 -1 0 0 0 IDA 5 25 61 69 120 65 69 77 87 157

326MADAGASCAR



NET TRANSFERS ON DEBT -7 306 59 75 124 -7 -12 48 78 119Public and publicly guaranteed -7 306 59 75 124 -7 -12 48 78 119Official creditors -7 185 87 81 126 -6 -11 48 81 120 Multilateral 2 37 99 57 103 42 67 89 105 144 Concessional 5 37 104 61 167 64 83 95 105 151 Bilateral -9 148 -12 24 23 -48 -78 -41 -25 -24 Concessional -9 94 57 23 -50 -37 -32 -33 -13 -15Private creditors -1 121 -28 -6 -2 -1 -1 -1 -3 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 42 -21 -3 -1 0 -1 0 -3 -1 Other private -1 79 -8 -3 -1 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 1 -1 -5 -5 -4 -2 -1 0 0 0 IDA 5 24 55 60 111 55 59 67 78 148





327MADAGASCAR




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 272 -176 -37 285 361 -54 -541 358 Net flows on debt 9 475 194 60 210 99 165 45 130 158 Net change in interest arrears .. .. 19 13 -348 -4 0 54 -58 -4 Interest capitalized .. .. 16 0 251 13 12 0 24 11 Debt forgiveness or reduction .. .. -185 0 -48 -6 -3 0 -82 -80 Cross-currency valuation .. .. 182 -259 -332 -67 -159 -162 -150 244 Residual .. .. 48 10 230 250 347 8 -405 28



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


328MALAWI


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 54 190 161 184 178 173 152 126 116 94Long-term debt 53 153 136 161 167 156 141 117 116 72IMF purchases 1 37 25 22 11 17 10 8 0 22Principal repayments 3 34 86 56 55 60 50 38 25 20Long-term debt 3 33 67 41 38 34 27 29 21 12IMF repurchases 0 1 19 15 17 25 22 9 4 7Net flows on debt 51 154 88 181 48 112 127 86 70 146of which short-term debt 0 -1 13 53 -75 -2 25 -2 -21 72Interest payments (INT) 4 53 47 33 30 24 19 20 14 17Long-term debt 4 35 36 28 26 22 17 17 12 15IMF charges 0 2 6 1 1 1 1 0 0 0Short-term debt 0 16 4 4 3 1 2 3 1 1Net transfers on debt 48 101 41 148 18 87 108 65 57 130Total debt service paid (TDS) 6 87 133 89 85 84 69 59 39 36Long-term debt 6 68 103 68 64 56 44 46 34 27IMF repurchases and charges 0 3 25 16 18 26 23 9 4 8Short-term debt (interest only) 0 16 4 4 3 1 2 3 1 1



NET TRANSFERS 62 134 278 293 222 308 388 306 298 223Interest on long-term debt 4 35 36 28 26 22 17 17 12 15Profit remittances on FDI 0 9 5 15 14 17 23 18 16 15Memo: official net transfers 53 139 264 299 224 314 352 298 295 232 private net transfers 9 -4 15 -6 -2 -6 36 8 4 -9


Gross national income (GNI) 283 1,138 1,837 2,393 2,492 1,695 1,768 1,668 1,655 1,864Exports of goods, serv. & inc. (XGS) .. 315 452 556 592 583 524 471 484 479Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 638 638 818 959 710 810 680 686 840International reserves (RES) 29 76 142 230 166 273 254 250 210 170Current account balance .. -260 -86 -147 -276 -4 -158 -73 -60 -201

4. DEBT INDICATORS


329MALAWI


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 135 634 1,385 2,096 2,099 2,310 2,596 2,555 2,483 2,688Public and publicly guaranteed 135 634 1,382 2,096 2,099 2,310 2,596 2,555 2,483 2,688Official creditors 116 442 1,305 2,072 2,079 2,290 2,577 2,537 2,474 2,678 Multilateral 17 219 1,088 1,773 1,800 1,990 2,057 2,048 2,061 2,263 Concessional 17 147 902 1,664 1,709 1,900 1,972 1,977 2,001 2,198 Bilateral 99 223 217 299 279 299 520 490 413 415 Concessional 61 111 149 281 264 284 503 475 405 408Private creditors 20 192 78 24 20 20 19 18 10 10 Bonds 16 1 0 0 0 0 0 0 0 0 Commercial banks 1 153 35 0 0 0 0 0 0 0 Other private 2 38 42 24 20 20 19 18 10 10Private nonguaranteed 0 0 2 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 2 0 0 0 0 0 0 0Memo: IBRD 0 26 91 42 34 25 17 9 4 2 IDA 17 131 764 1,346 1,375 1,542 1,586 1,592 1,624 1,770



NET FLOWS ON DEBT 50 120 69 120 129 121 114 88 95 59Public and publicly guaranteed 50 120 70 120 129 121 114 88 95 59Official creditors 48 100 67 124 131 122 113 88 95 59 Multilateral 10 48 98 135 122 126 114 88 102 59 Concessional 10 27 106 149 130 131 112 97 107 63 Bilateral 39 52 -31 -11 9 -4 0 0 -7 0 Concessional 18 17 6 -7 11 -4 0 0 -7 0Private creditors 2 20 3 -4 -1 -1 0 0 0 0 Bonds -1 -1 0 0 0 0 0 0 0 0 Commercial banks 0 17 0 0 0 0 0 0 0 0 Other private 3 4 3 -4 -1 -1 0 0 0 0Private nonguaranteed 0 0 -1 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 -1 0 0 0 0 0 0 0Memo: IBRD 0 8 -5 -9 -6 -10 -8 -8 -4 -2 IDA 10 14 96 133 98 120 75 81 99 46

330MALAWI



NET TRANSFERS ON DEBT 47 85 33 93 103 99 97 71 83 44Public and publicly guaranteed 47 85 34 93 103 99 97 71 83 44Official creditors 46 90 37 99 106 100 97 71 83 44 Multilateral 10 45 79 116 104 107 97 71 91 44 Concessional 10 26 100 138 118 118 99 82 97 50 Bilateral 37 45 -42 -17 2 -7 0 0 -8 0 Concessional 18 14 3 -12 5 -6 0 0 -8 0Private creditors 0 -5 -3 -6 -3 -1 0 0 0 0 Bonds -2 -1 0 0 0 0 0 0 0 0 Commercial banks 0 -5 -3 0 0 0 0 0 0 0 Other private 2 1 1 -6 -3 -1 0 0 0 0Private nonguaranteed 0 0 -2 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 -2 0 0 0 0 0 0 0Memo: IBRD 0 6 -13 -13 -8 -13 -10 -9 -5 -2 IDA 10 13 91 123 89 109 63 70 88 35





331MALAWI




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 148 73 -87 216 307 -34 -112 308 Net flows on debt 51 154 88 181 48 112 127 86 70 146 Net change in interest arrears .. .. -2 3 -1 10 10 13 -9 10 Interest capitalized .. .. 0 0 0 0 0 0 2 0 Debt forgiveness or reduction .. .. -51 0 0 0 0 0 -72 -39 Cross-currency valuation .. .. 22 -212 -231 -50 -21 -111 -96 140 Residual .. .. 91 101 98 144 190 -22 -8 51



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


332MALAYSIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 502 6,611 15,328 39,673 47,228 42,409 41,903 41,941 44,612 48,557Long-term debt (LDOD) 440 5,256 13,422 28,605 32,289 33,940 35,892 37,300 38,321 40,188Public and publicly guaranteed 390 4,007 11,592 15,702 16,807 18,155 18,930 19,234 24,140 26,200Private nonguaranteed 50 1,248 1,830 12,903 15,482 15,786 16,961 18,067 14,181 13,988Use of IMF credit 0 0 0 0 0 0 0 0 0 0Short-term debt 62 1,355 1,906 11,068 14,939 8,469 6,012 4,640 6,291 8,369of which interest arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: export credits 0 0 1,395 3,350 3,289 1,334 1,245 1,131 1,349 1,913

TOTAL DEBT FLOWS Disbursements 58 1,456 1,683 8,936 8,803 6,724 4,621 5,921 7,110 7,766Long-term debt 58 1,456 1,683 8,936 8,803 6,724 4,621 5,921 7,110 7,766IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments 57 345 3,167 6,343 4,276 3,806 2,853 4,146 4,088 6,117Long-term debt 57 345 3,167 6,343 4,276 3,806 2,853 4,146 4,088 6,117IMF repurchases 0 0 0 0 0 0 0 0 0 0Net flows on debt 1 1,592 -1,851 6,387 8,397 -3,552 -689 404 4,672 3,727of which short-term debt 0 481 -367 3,794 3,871 -6,470 -2,457 -1,372 1,650 2,078Interest payments (INT) 25 589 1,166 2,084 2,833 2,268 1,922 2,299 2,140 1,965Long-term debt 25 338 997 1,432 1,588 1,612 1,603 2,033 1,946 1,731IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt 0 251 169 652 1,245 656 319 266 195 235Net transfers on debt -24 1,003 -3,017 4,303 5,565 -5,820 -2,611 -1,895 2,532 1,762Total debt service paid (TDS) 82 934 4,333 8,427 7,109 6,074 4,775 6,445 6,229 8,082Long-term debt 82 683 4,164 7,776 5,864 5,418 4,456 6,179 6,034 7,847IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0Short-term debt (interest only) 0 251 169 652 1,245 656 319 266 195 235


NET RESOURCE FLOWS 99 2,052 890 10,343 1,627 4,706 5,813 3,730 2,911 4,614Net flow of long-term debt (ex. IMF) 1 1,111 -1,484 2,593 4,527 2,918 1,768 1,775 3,022 1,649Foreign direct investment (net) 94 934 2,333 5,078 5,137 2,163 3,895 3,788 554 3,203Portfolio equity flows 0 0 0 2,665 -8,049 -397 137 -1,841 -673 -250Grants (excluding technical coop.) 4 6 42 7 13 21 13 9 8 12Memo: technical coop. grants 13 54 125 100 86 80 89 82 68 67 official net resource flows 27 139 414 -774 -156 243 608 614 2,079 -192 private net resource flows 71 1,913 476 11,117 1,783 4,463 5,205 3,116 832 4,807

NET TRANSFERS 73 524 -2,033 4,452 -5,036 298 -1,192 -5,475 -4,968 -3,016Interest on long-term debt 25 338 997 1,432 1,588 1,612 1,603 2,033 1,946 1,731Profit remittances on FDI 0 1,190 1,926 4,459 5,075 2,796 5,402 7,173 5,933 5,900Memo: official net transfers 14 53 182 -1,017 -358 36 363 356 1,812 -459 private net transfers 60 471 -2,214 5,469 -4,678 262 -1,555 -5,831 -6,780 -2,558


Gross national income (GNI) 4,167 24,057 42,152 96,161 94,803 68,271 73,540 82,651 81,316 88,439Exports of goods, serv. & inc. (XGS) .. 14,836 34,514 94,813 95,750 84,942 98,019 114,356 104,282 110,400Worker remit. & comp. of employees 0 0 185 164 194 190 323 342 367 435Imports of goods & services (MGS) .. 15,100 35,486 98,093 100,176 72,950 83,687 103,944 94,844 100,430International reserves (RES) 667 5,755 10,659 27,892 21,470 26,236 30,931 29,844 30,798 34,623Current account balance .. -266 -870 -4,462 -5,935 9,529 12,604 8,488 7,287 7,190

4. DEBT INDICATORS


333MALAYSIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 440 5,256 13,422 28,605 32,289 33,940 35,892 37,300 38,321 40,188Public and publicly guaranteed 390 4,007 11,592 15,702 16,807 18,155 18,930 19,234 24,140 26,200Official creditors 265 1,444 4,191 4,205 3,983 4,508 4,825 4,950 5,861 5,782 Multilateral 141 745 1,812 1,404 1,228 1,487 1,438 1,314 1,219 1,145 Concessional 0 3 9 0 0 0 0 0 0 0 Bilateral 124 699 2,378 2,802 2,755 3,021 3,387 3,637 4,641 4,637 Concessional 94 565 2,225 2,548 2,033 2,333 2,735 2,939 3,159 3,194Private creditors 125 2,564 7,401 11,497 12,824 13,647 14,105 14,284 18,279 20,418 Bonds 111 278 4,090 7,789 8,265 8,338 9,255 9,945 10,804 13,464 Commercial banks 0 1,397 2,285 3,121 3,118 3,346 2,925 2,609 5,941 4,894 Other private 14 889 1,026 587 1,440 1,963 1,925 1,729 1,534 2,060Private nonguaranteed 50 1,248 1,830 12,903 15,482 15,786 16,961 18,067 14,181 13,988 Bonds 0 0 0 1,937 3,752 3,785 3,841 3,402 3,825 3,260 Commercial banks and other 50 1,248 1,830 10,966 11,730 12,001 13,120 14,665 10,356 10,729Memo: IBRD 141 504 1,102 907 758 970 900 812 788 719 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 58 1,456 1,683 8,936 8,803 6,724 4,621 5,921 7,110 7,766Public and publicly guaranteed 45 1,015 798 3,528 3,566 1,624 2,482 3,460 5,520 6,266Official creditors 39 211 737 297 662 600 1,372 1,446 2,901 1,207 Multilateral 22 118 273 128 137 386 71 61 71 63 Concessional 0 0 2 0 0 0 0 0 0 0 Bilateral 17 93 464 168 524 214 1,300 1,385 2,830 1,144 Concessional 16 78 460 94 271 214 700 1,141 2,084 435Private creditors 6 804 61 3,231 2,904 1,024 1,110 2,015 2,619 5,059 Bonds 0 0 0 2,252 746 0 1,010 1,061 1,700 3,838 Commercial banks 0 510 57 703 900 456 101 954 919 641 Other private 6 294 4 275 1,259 568 0 0 0 579Private nonguaranteed 12 441 885 5,408 5,237 5,100 2,139 2,461 1,590 1,500 Bonds 0 0 0 172 1,844 0 0 361 550 0 Commercial banks and other 12 441 885 5,236 3,393 5,100 2,139 2,100 1,040 1,500Memo: IBRD 21 80 205 84 51 325 42 15 60 56 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 57 345 3,167 6,343 4,276 3,806 2,853 4,146 4,088 6,117Public and publicly guaranteed 47 127 2,697 3,264 1,867 1,135 1,559 2,017 2,457 4,441Official creditors 16 79 365 1,078 830 378 777 840 830 1,411 Multilateral 5 34 216 230 191 179 156 139 120 165 Concessional 0 0 2 1 0 0 0 0 0 0 Bilateral 11 45 149 848 639 199 620 701 710 1,246 Concessional 4 17 123 840 535 164 585 666 679 403Private creditors 32 48 2,332 2,186 1,037 757 783 1,176 1,628 3,029 Bonds 30 11 1,239 362 86 299 263 200 676 1,327 Commercial banks 0 17 664 1,616 779 339 401 864 840 1,591 Other private 2 20 428 208 172 119 118 112 112 112Private nonguaranteed 9 218 470 3,079 2,409 2,671 1,294 2,129 1,631 1,676 Bonds 0 0 0 0 0 15 0 745 110 549 Commercial banks and other 9 218 470 3,079 2,409 2,656 1,294 1,384 1,521 1,127Memo: IBRD 5 26 164 161 126 117 111 100 83 126 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT 1 1,111 -1,484 2,593 4,527 2,918 1,768 1,775 3,022 1,649Public and publicly guaranteed -2 889 -1,899 264 1,699 489 923 1,444 3,063 1,825Official creditors 23 132 372 -781 -168 222 595 606 2,071 -204 Multilateral 17 85 57 -102 -53 207 -85 -79 -49 -103 Concessional 0 0 0 -1 0 0 0 0 0 0 Bilateral 6 48 315 -679 -115 15 680 684 2,121 -101 Concessional 12 61 337 -745 -263 50 115 475 1,405 32Private creditors -25 756 -2,271 1,045 1,868 267 328 838 991 2,029 Bonds -30 -11 -1,239 1,890 659 -299 747 861 1,024 2,511 Commercial banks 0 493 -607 -913 121 117 -300 89 79 -950 Other private 4 274 -424 68 1,087 449 -118 -112 -112 467Private nonguaranteed 3 223 415 2,329 2,828 2,429 845 331 -41 -176 Bonds 0 0 0 172 1,844 -15 0 -384 440 -549 Commercial banks and other 3 223 415 2,157 984 2,444 845 716 -481 373Memo: IBRD 16 54 41 -76 -75 208 -69 -86 -22 -70 IDA 0 0 0 0 0 0 0 0 0 0

334MALAYSIA


INTEREST PAYMENTS (LINT) 25 338 997 1,432 1,588 1,612 1,603 2,033 1,946 1,731Public and publicly guaranteed 22 250 956 856 903 1,000 1,086 1,171 1,278 1,189Official creditors 13 86 232 243 202 207 244 259 267 266 Multilateral 8 60 145 108 90 82 100 98 88 80 Concessional 0 0 1 0 0 0 0 0 0 0 Bilateral 5 26 87 135 112 125 145 160 179 186 Concessional 3 19 75 133 81 70 92 94 102 119Private creditors 9 163 724 612 702 792 841 912 1,011 923 Bonds 8 18 414 318 509 536 592 611 664 669 Commercial banks 0 108 199 229 142 161 156 208 263 178 Other private 1 37 111 65 50 96 94 93 83 75Private nonguaranteed 3 88 41 577 685 612 517 862 668 542 Bonds 0 0 0 48 60 161 157 159 158 152 Commercial banks and other 3 88 41 529 625 451 360 703 510 390Memo: IBRD 8 39 86 70 57 50 67 66 59 54 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT -24 774 -2,481 1,160 2,939 1,306 165 -257 1,076 -82Public and publicly guaranteed -24 639 -2,855 -592 796 -511 -163 273 1,785 636Official creditors 10 46 140 -1,025 -370 15 350 347 1,804 -470 Multilateral 9 25 -88 -210 -143 125 -185 -177 -137 -183 Concessional 0 0 0 -1 0 0 0 0 0 0 Bilateral 1 22 228 -814 -227 -110 535 524 1,941 -288 Concessional 9 42 262 -879 -345 -19 23 381 1,303 -87Private creditors -34 593 -2,995 433 1,166 -525 -513 -74 -20 1,107 Bonds -38 -29 -1,654 1,572 150 -835 155 250 360 1,843 Commercial banks 0 384 -806 -1,142 -21 -43 -456 -119 -184 -1,128 Other private 4 237 -535 3 1,037 353 -212 -205 -195 392Private nonguaranteed 0 135 374 1,752 2,143 1,817 328 -531 -708 -718 Bonds 0 0 0 124 1,784 -176 -157 -544 282 -701 Commercial banks and other 0 135 374 1,628 359 1,993 485 13 -991 -17Memo: IBRD 8 15 -46 -146 -132 158 -135 -152 -81 -124 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) 82 683 4,164 7,776 5,864 5,418 4,456 6,179 6,034 7,847Public and publicly guaranteed 69 376 3,653 4,120 2,770 2,134 2,645 3,187 3,736 5,630Official creditors 29 165 597 1,321 1,032 585 1,021 1,099 1,097 1,678 Multilateral 13 94 361 339 281 261 256 238 208 245 Concessional 0 0 2 1 0 0 0 0 0 0 Bilateral 16 71 236 983 751 324 765 861 889 1,432 Concessional 7 37 198 973 616 233 678 761 781 522Private creditors 40 211 3,056 2,798 1,738 1,550 1,624 2,088 2,639 3,952 Bonds 38 29 1,654 680 595 835 855 811 1,340 1,996 Commercial banks 0 126 863 1,845 921 500 557 1,073 1,103 1,769 Other private 2 57 539 273 222 215 212 205 195 187Private nonguaranteed 13 306 511 3,656 3,094 3,283 1,811 2,991 2,298 2,218 Bonds 0 0 0 48 60 176 157 904 268 701 Commercial banks and other 13 306 511 3,608 3,034 3,107 1,654 2,087 2,031 1,517Memo: IBRD 13 65 250 231 183 167 177 166 141 180 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT 201 1,761 2,068 2,243 1,193 913 4,420 5,098 3,220 3,323Official creditors 181 1,404 1,795 1,621 831 559 2,314 1,520 2,697 3,001Private creditors 20 357 273 622 362 353 2,106 3,577 523 322Memorandum items Concessional LDOD 94 567 2,234 2,548 2,033 2,333 2,735 2,939 3,159 3,194 Variable rate LDOD 50 2,665 6,559 16,593 19,457 20,286 21,038 22,401 21,921 21,768 Public sector LDOD 390 4,007 11,592 15,702 16,807 18,155 18,930 19,135 23,993 26,068 Private sector LDOD 50 1,248 1,830 12,903 15,482 15,786 16,961 18,166 14,327 14,120



335MALAYSIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -949 5,331 7,555 -4,819 -506 37 2,671 3,946 Net flows on debt 1 1,592 -1,851 6,387 8,397 -3,552 -689 404 4,672 3,727 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 926 -898 -676 607 711 -689 -734 623 Residual .. .. -25 -158 -166 -1,874 -527 322 -1,268 -405

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.1 11.2 4.8 6.5 5.9 4.1 5.2 6.5 4.0 4.9 Maturity (years) 18.7 13.8 20.9 18.1 13.0 14.2 14.4 10.5 13.6 11.7 Grace period (years) 4.8 5.4 6.0 13.1 4.7 3.6 6.2 4.2 5.8 7.9 Grant element (%) 22.8 -6.6 37.3 19.0 21.4 32.8 28.7 16.5 33.3 25.5Official creditors Interest (%) 6.4 6.7 4.0 0.0 7.4 6.3 4.5 4.8 3.7 3.7 Maturity (years) 21.0 18.3 22.9 0.0 22.3 15.8 19.5 21.1 14.9 16.9 Grace period (years) 5.7 5.0 6.7 0.0 4.2 3.8 5.1 4.9 3.3 4.9 Grant element (%) 24.0 20.9 44.2 0.0 15.8 20.9 35.8 35.0 31.6 37.5Private creditors Interest (%) 5.1 14.1 8.9 6.5 5.9 3.4 5.7 7.0 4.5 5.2 Maturity (years) 8.8 10.9 11.4 18.1 12.7 13.7 10.3 7.6 11.6 10.2 Grace period (years) 1.3 5.7 2.6 13.1 4.7 3.5 7.1 4.0 9.7 8.7 Grant element (%) 17.3 -23.9 4.3 19.0 21.5 36.4 22.9 11.4 35.9 22.2Memorandum items Commitments 84 1,423 701 3,435 2,405 1,278 5,312 4,625 7,053 6,161 Official creditors 68 550 579 0 74 300 2,379 1,000 4,279 1,343 Private creditors 16 873 122 3,435 2,330 978 2,934 3,625 2,774 4,818


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 1,723 885 464 178 41 32 0 0 0 0Principal 2,920 4,597 5,494 4,749 5,280 3,008 5,538 2,118 1,383 886Interest 1,714 1,653 1,503 1,288 1,069 914 718 546 476 391Official creditors Disbursements 1,571 800 416 154 35 26 0 0 0 0Principal 739 767 736 768 838 820 794 480 410 397Interest 247 254 244 222 196 168 140 112 96 82 Bilateral creditors Disbursements 1,463 765 411 149 32 26 0 0 0 0 Principal 581 621 591 626 710 704 682 398 340 340 Interest 178 190 188 176 159 138 118 95 84 73 Multilateral creditors Disbursements 108 35 5 4 3 0 0 0 0 0 Principal 158 146 145 142 128 116 112 82 69 57 Interest 69 64 56 46 37 30 23 16 12 9Private creditors Disbursements 152 85 48 24 6 6 0 0 0 0Principal 2,181 3,830 4,758 3,981 4,442 2,188 4,744 1,638 974 489Interest 1,467 1,399 1,260 1,066 872 747 578 434 380 309 Commercial banks Disbursements 152 85 48 24 6 6 0 0 0 0 Principal 1,143 734 834 906 781 136 667 0 0 2 Interest 87 66 54 40 21 9 3 1 1 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,039 3,096 3,924 3,075 3,661 2,052 4,077 1,638 974 486 Interest 1,380 1,334 1,205 1,026 851 738 574 434 379 309

336MALDIVES


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements .. 17.9 13.0 23.5 32.7 30.7 17.4 13.6 20.1 41.3Long-term debt .. 17.9 13.0 23.5 32.7 30.7 17.4 13.6 20.1 41.3IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments .. 0.0 6.0 7.8 24.2 11.6 12.3 13.9 15.8 16.5Long-term debt .. 0.0 6.0 7.8 24.2 11.6 12.3 13.9 15.8 16.5IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt .. 12.9 8.6 17.4 10.8 22.3 19.7 -3.8 37.2 19.2of which short-term debt .. -5.0 1.6 1.7 2.3 3.2 14.6 -3.5 32.9 -5.6Interest payments (INT) .. 0.5 2.8 3.9 4.4 4.3 5.4 5.9 6.0 5.7Long-term debt .. 0.3 1.3 3.7 4.1 3.9 4.4 4.7 4.6 4.4IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. 0.3 1.5 0.2 0.4 0.4 0.9 1.2 1.4 1.3Net transfers on debt .. 12.4 5.8 13.5 6.4 18.0 14.3 -9.7 31.3 13.5Total debt service paid (TDS) .. 0.5 8.8 11.7 28.6 15.9 17.7 19.8 21.7 22.1Long-term debt .. 0.3 7.3 11.5 28.2 15.5 16.7 18.7 20.4 20.8IMF repurchases and charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) .. 0.3 1.5 0.2 0.4 0.4 0.9 1.2 1.4 1.3


NET RESOURCE FLOWS .. 19.0 23.9 34.7 32.9 43.8 34.8 22.7 30.7 46.6Net flow of long-term debt (ex. IMF) .. 17.9 7.0 15.7 8.5 19.1 5.1 -0.4 4.3 24.8Foreign direct investment (net) .. 0.0 5.6 9.3 11.4 11.5 12.3 13.0 11.7 11.7Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. 1.1 11.3 9.8 13.0 13.2 17.5 10.0 14.6 10.1Memo: technical coop. grants .. 2.8 5.8 8.7 8.0 7.0 8.3 7.6 5.4 6.5 official net resource flows .. 19.0 17.2 23.1 15.5 21.6 18.2 9.6 18.5 20.2 private net resource flows .. 0.0 6.7 11.6 17.4 22.1 16.6 13.0 12.2 26.4

NET TRANSFERS .. 17.2 8.7 8.1 -1.0 8.2 -3.8 -16.5 -13.4 2.2Interest on long-term debt .. 0.3 1.3 3.7 4.1 3.9 4.4 4.7 4.6 4.4Profit remittances on FDI .. 1.5 13.9 23.0 29.8 31.7 34.2 34.4 39.5 40.0Memo: official net transfers .. 18.7 16.4 20.2 12.4 18.9 15.5 7.1 16.0 17.7 private net transfers .. -1.5 -7.7 -12.1 -13.4 -10.7 -19.3 -23.6 -29.4 -15.5


Gross national income (GNI) .. .. 193.8 428.5 480.8 511.9 558.2 594.3 586.5 603.0Exports of goods, serv. & inc. (XGS) .. 65.2 183.8 374.9 409.3 435.5 443.3 467.5 471.1 493.2Worker remit. & comp. of employees .. 0.0 1.7 2.7 2.5 2.5 2.2 2.2 1.8 1.8Imports of goods & services (MGS) .. 89.8 177.7 381.3 436.1 447.1 502.1 492.0 500.8 496.6International reserves (RES) .. 0.9 24.5 76.8 98.8 119.1 127.6 123.3 93.6 133.8Current account balance .. -22.2 9.9 -7.4 -34.7 -21.9 -78.9 -51.5 -57.3 -44.0

4. DEBT INDICATORS

EDT / XGS (%) .. 39.5 42.4 44.9 41.9 44.5 49.4 44.1 49.9 54.8EDT / GNI (%) .. .. 40.2 39.3 35.6 37.8 39.2 34.7 40.1 44.8TDS / XGS (%) .. 0.8 4.8 3.1 7.0 3.7 4.0 4.2 4.6 4.5INT / XGS (%) .. 0.8 1.5 1.0 1.1 1.0 1.2 1.3 1.3 1.1INT / GNI (%) .. .. 1.4 0.9 0.9 0.8 1.0 1.0 1.0 0.9RES / EDT (%) .. 3.7 31.4 45.7 57.7 61.5 58.3 59.9 39.8 49.5RES / MGS (months) .. 0.1 1.7 2.4 2.7 3.2 3.1 3.0 2.2 3.2Short-term / EDT (%) .. 3.9 18.0 2.8 4.1 5.3 11.3 10.4 23.1 18.0Concessional / EDT (%) .. 96.1 71.0 81.0 79.1 73.8 68.7 69.1 59.5 60.3Multilateral / EDT (%) .. 13.6 41.7 58.1 58.7 58.3 57.1 58.5 51.0 52.7

337MALDIVES


5. LONG-TERM DEBT




NET FLOWS ON DEBT .. 17.9 7.0 15.7 8.5 19.1 5.1 -0.4 4.3 24.8Public and publicly guaranteed .. 17.9 7.0 15.7 8.5 19.1 5.1 -0.4 4.3 24.8Official creditors .. 17.9 5.9 13.3 2.5 8.5 0.7 -0.4 3.9 10.1 Multilateral .. 2.6 2.2 10.3 9.5 13.1 4.6 3.6 7.0 10.7 Concessional .. 2.6 2.2 10.0 8.4 11.7 2.9 2.9 7.0 10.6 Bilateral .. 15.3 3.7 3.0 -7.0 -4.6 -3.8 -4.0 -3.1 -0.6 Concessional .. 15.3 -0.8 3.7 -2.3 -3.7 -2.9 -3.0 -2.0 0.6Private creditors .. 0.0 1.1 2.3 6.0 10.6 4.3 0.0 0.5 14.7 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 -1.5 3.0 4.4 7.9 6.0 0.1 1.9 15.9 Other private .. 0.0 2.6 -0.6 1.6 2.8 -1.6 0.0 -1.4 -1.2Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 1.6 1.2 2.4 3.7 3.6 2.4 3.0 -0.3 2.6

338MALDIVES



NET TRANSFERS ON DEBT .. 17.6 5.7 12.0 4.4 15.2 0.6 -5.1 -0.2 20.4Public and publicly guaranteed .. 17.6 5.7 12.0 4.4 15.2 0.6 -5.1 -0.2 20.4Official creditors .. 17.6 5.0 10.4 -0.5 5.8 -2.0 -2.9 1.4 7.6 Multilateral .. 2.6 1.8 9.1 8.2 11.7 3.1 2.1 5.4 9.0 Concessional .. 2.6 1.8 8.8 7.2 10.4 1.5 1.4 5.5 9.0 Bilateral .. 15.0 3.2 1.3 -8.8 -6.0 -5.0 -5.1 -4.1 -1.4 Concessional .. 15.0 -1.1 3.2 -2.9 -4.3 -3.4 -3.5 -2.5 0.1Private creditors .. 0.0 0.6 1.6 5.0 9.5 2.6 -2.2 -1.6 12.8 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 -1.6 2.7 3.7 7.0 4.7 -1.8 0.1 14.3 Other private .. 0.0 2.2 -1.1 1.2 2.5 -2.1 -0.4 -1.7 -1.5Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 1.6 1.1 2.1 3.4 3.3 2.1 2.6 -0.6 2.3





339MALDIVES




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 11.2 13.3 3.1 22.3 25.3 -12.9 28.9 35.5 Net flows on debt .. 12.9 8.6 17.4 10.8 22.3 19.7 -3.8 37.2 19.2 Net change in interest arrears .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 1.2 -5.5 -8.4 2.4 -3.3 -6.5 -5.4 10.7 Residual .. .. 1.3 1.5 0.7 -2.5 8.9 -2.5 -2.9 5.6



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


340MALI


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 24 109 195 186 156 111 144 109 137 152Long-term debt 23 95 167 156 128 96 121 100 114 143IMF purchases 2 14 28 30 28 14 23 9 23 9Principal repayments 4 9 44 54 49 55 75 66 61 65Long-term debt 0 6 25 47 42 44 64 50 47 47IMF repurchases 4 3 18 7 7 11 12 16 15 18Net flows on debt 20 99 159 135 293 -33 71 -11 30 184of which short-term debt 0 -1 8 3 186 -89 2 -53 -45 97Interest payments (INT) 0 7 24 62 36 27 30 26 19 25Long-term debt 0 3 17 59 20 18 21 17 15 22IMF charges 0 1 4 1 1 1 1 1 1 1Short-term debt 0 3 3 2 15 8 8 8 3 2Net transfers on debt 20 92 135 73 257 -60 40 -37 12 160Total debt service paid (TDS) 5 16 68 116 85 82 105 93 80 90Long-term debt 1 9 43 106 62 62 85 67 62 69IMF repurchases and charges 4 4 22 8 8 12 13 17 16 19Short-term debt (interest only) 0 3 3 2 15 8 8 8 3 2



NET TRANSFERS 34 192 327 298 329 236 223 352 353 387Interest on long-term debt 0 3 17 59 20 18 21 17 15 22Profit remittances on FDI 0 0 4 6 10 9 7 6 16 9Memo: official net transfers 34 182 327 259 276 236 226 259 243 293 private net transfers 0 9 0 39 53 0 -3 93 110 93


Gross national income (GNI) 354 1,768 2,405 2,569 2,422 2,546 2,526 2,413 2,464 2,844Exports of goods, serv. & inc. (XGS) .. 322 549 660 751 751 796 751 985 1,283Worker remit. & comp. of employees 0 59 107 111 92 85 86 73 88 88Imports of goods & services (MGS) .. 537 889 1,004 966 992 1,080 1,063 1,348 ..International reserves (RES) 1 26 198 432 415 403 350 381 349 594Current account balance .. -124 -221 -261 -178 -208 -252 -255 -310 ..

4. DEBT INDICATORS


341MALI


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 238 664 2,337 2,763 2,702 2,833 2,807 2,665 2,637 2,487Public and publicly guaranteed 238 664 2,337 2,763 2,702 2,833 2,807 2,665 2,637 2,487Official creditors 231 629 2,321 2,763 2,702 2,833 2,807 2,665 2,637 2,487 Multilateral 6 172 897 1,460 1,454 1,571 1,607 1,507 1,517 1,743 Concessional 6 163 875 1,423 1,424 1,543 1,586 1,490 1,502 1,730 Bilateral 226 457 1,424 1,303 1,248 1,263 1,200 1,158 1,120 744 Concessional 226 451 1,373 1,265 1,212 1,112 1,053 1,012 974 725Private creditors 6 35 16 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 1 11 0 0 0 0 0 0 0 0 Other private 5 25 16 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 6 121 498 915 939 1,009 1,035 957 981 1,134



NET FLOWS ON DEBT 23 89 142 109 86 52 57 50 67 97Public and publicly guaranteed 23 89 142 109 86 52 57 50 67 97Official creditors 23 81 143 109 86 52 57 50 67 97 Multilateral 1 35 101 94 87 62 80 60 81 98 Concessional 1 30 98 96 90 65 84 62 83 101 Bilateral 21 46 42 15 -2 -9 -23 -10 -14 -2 Concessional 21 42 42 16 -1 -8 -21 -9 -13 0Private creditors 0 8 -1 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 4 0 0 0 0 0 0 0 0 Other private 0 4 -1 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 1 19 41 77 67 39 46 42 65 88

342MALI



NET TRANSFERS ON DEBT 22 86 124 50 65 34 36 32 52 75Public and publicly guaranteed 22 86 124 50 65 34 36 32 52 75Official creditors 22 79 126 50 65 34 36 32 52 75 Multilateral 1 34 92 80 74 49 66 47 70 83 Concessional 1 28 90 84 78 53 70 50 73 85 Bilateral 21 45 34 -30 -9 -15 -30 -15 -19 -8 Concessional 21 41 37 -28 -6 -13 -26 -13 -16 -6Private creditors 0 7 -2 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 3 0 0 0 0 0 0 0 0 Other private 0 4 -2 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 1 18 38 71 61 32 39 36 58 81





343MALI




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 340 48 146 53 -15 -215 -63 -108 Net flows on debt 20 99 159 135 293 -33 71 -11 30 184 Net change in interest arrears .. .. 8 5 10 -1 2 -2 15 -50 Interest capitalized .. .. 5 0 0 2 0 0 0 0 Debt forgiveness or reduction .. .. -2 -15 0 -4 0 -32 -16 -451 Cross-currency valuation .. .. 119 -115 -213 -30 -70 -182 -74 154 Residual .. .. 51 39 56 118 -17 11 -18 55



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


344MAURITANIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 4 155 148 175 108 55 57 123 98 133Long-term debt 4 125 136 155 89 55 49 115 75 117IMF purchases 0 30 12 21 20 0 8 8 23 16Principal repayments 3 26 98 82 70 68 69 53 47 44Long-term debt 3 17 83 72 62 62 60 47 42 39IMF repurchases 0 9 16 10 7 7 9 6 5 6Net flows on debt 1 139 102 103 158 -84 -11 60 64 51of which short-term debt 0 10 53 9 119 -71 1 -10 13 -38Interest payments (INT) 0 22 47 34 44 42 36 30 28 20Long-term debt 0 13 35 30 35 33 28 20 23 17IMF charges 0 2 3 1 1 1 1 1 1 1Short-term debt 0 7 9 4 8 8 7 10 5 2Net transfers on debt 1 118 55 68 114 -126 -47 29 36 31Total debt service paid (TDS) 4 48 146 116 114 110 105 83 76 64Long-term debt 4 30 118 102 97 94 88 67 65 56IMF repurchases and charges 0 11 19 11 8 7 10 7 6 6Short-term debt (interest only) 0 7 9 4 8 8 7 10 5 2


NET RESOURCE FLOWS 5 197 138 261 180 125 155 202 199 321Net flow of long-term debt (ex. IMF) 1 108 54 83 26 -6 -11 68 33 78Foreign direct investment (net) 1 27 7 4 1 0 1 9 -7 12Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 3 61 78 174 152 131 165 125 172 231Memo: technical coop. grants 4 29 50 47 42 36 37 33 35 35 official net resource flows 6 170 133 233 180 127 156 195 208 305 private net resource flows -1 27 5 29 -1 -2 -1 7 -9 16

NET TRANSFERS 4 161 103 232 143 91 126 180 175 303Interest on long-term debt 0 13 35 30 35 33 28 20 23 17Profit remittances on FDI 0 23 1 0 2 1 1 1 1 1Memo: official net transfers 5 161 98 203 147 96 130 176 187 288 private net transfers -1 1 4 29 -4 -5 -4 4 -12 15


Gross national income (GNI) 196 672 1,076 1,060 1,045 962 943 908 984 956Exports of goods, serv. & inc. (XGS) .. 275 488 517 463 397 .. .. .. ..Worker remit. & comp. of employees 0 6 14 4 3 2 2 2 2 2Imports of goods & services (MGS) .. 493 570 623 557 505 .. .. .. ..International reserves (RES) 3 146 59 145 204 206 228 283 288 400Current account balance .. -133 -10 91 48 77 .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 304.9 432.9 475.3 539.3 602.2 .. .. .. ..EDT / GNI (%) 13.4 125.0 196.4 231.7 238.9 248.6 268.6 274.2 233.4 241.6TDS / XGS (%) .. 17.3 29.8 22.5 24.5 27.7 .. .. .. ..INT / XGS (%) .. 7.9 9.7 6.7 9.5 10.5 .. .. .. ..INT / GNI (%) 0.2 3.2 4.4 3.3 4.2 4.3 3.8 3.3 2.9 2.1RES / EDT (%) 12.2 17.4 2.8 5.9 8.2 8.6 9.0 11.4 12.5 17.3RES / MGS (months) .. 3.6 1.2 2.8 4.4 4.9 .. .. .. ..Short-term / EDT (%) 0.0 7.7 11.2 7.3 12.2 9.7 11.0 9.9 10.5 9.2Concessional / EDT (%) 52.0 62.6 60.8 71.0 68.3 71.9 70.6 73.2 75.6 78.7Multilateral / EDT (%) 21.4 14.8 31.0 38.7 37.7 41.6 38.4 40.0 45.4 49.2

345MAURITANIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 26 713 1,806 2,169 2,079 2,050 2,149 2,143 1,949 1,984Public and publicly guaranteed 26 713 1,806 2,169 2,079 2,050 2,149 2,143 1,949 1,984Official creditors 18 582 1,709 2,144 2,055 2,029 2,130 2,124 1,945 1,979 Multilateral 6 125 654 951 941 995 973 995 1,042 1,135 Concessional 6 106 453 755 776 835 838 878 941 1,057 Bilateral 13 458 1,055 1,193 1,114 1,033 1,157 1,129 903 843 Concessional 8 420 831 988 928 886 951 943 794 760Private creditors 8 131 97 25 24 22 20 19 4 6 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 16 0 0 0 0 0 0 1 6 Other private 8 114 97 25 24 22 20 19 3 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 54 8 6 4 2 0 0 0 IDA 5 38 210 359 372 408 415 449 475 547



NET FLOWS ON DEBT 1 108 54 83 26 -6 -11 68 33 78Public and publicly guaranteed 1 108 54 83 26 -6 -11 68 33 78Official creditors 3 108 55 58 28 -4 -9 70 36 75 Multilateral 2 25 46 42 42 12 2 72 49 73 Concessional 2 12 49 62 55 25 19 77 58 80 Bilateral 1 83 9 16 -14 -16 -11 -2 -13 1 Concessional 1 82 14 16 -14 -14 -9 1 -11 1Private creditors -2 0 -1 24 -2 -2 -2 -2 -3 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -5 0 0 0 0 0 0 0 4 Other private -2 5 -1 24 -2 -2 -2 -2 -3 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 -11 -2 -2 -2 -2 -2 0 0 IDA 1 4 38 34 32 21 16 57 45 41

346MAURITANIA



NET TRANSFERS ON DEBT 1 96 19 53 -9 -39 -39 48 11 61Public and publicly guaranteed 1 96 19 53 -9 -39 -39 48 11 61Official creditors 3 99 21 29 -6 -35 -35 52 15 58 Multilateral 2 23 25 21 23 -6 -17 58 37 60 Concessional 2 9 43 51 45 15 9 67 50 72 Bilateral 0 77 -5 8 -29 -29 -18 -7 -22 -3 Concessional 1 75 8 8 -23 -21 -13 -2 -16 -3Private creditors -2 -4 -2 24 -3 -4 -4 -4 -4 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -7 0 0 0 0 0 0 0 4 Other private -2 3 -2 24 -3 -4 -4 -4 -4 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 -16 -3 -2 -2 -2 -2 0 0 IDA 1 4 37 32 29 18 13 55 43 38





347MAURITANIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 142 61 38 -103 141 -45 -193 13 Net flows on debt 1 139 102 103 158 -84 -11 60 64 51 Net change in interest arrears .. .. 21 2 5 -1 45 -20 -19 8 Interest capitalized .. .. 4 13 3 0 0 18 1 1 Debt forgiveness or reduction .. .. -70 -1 -9 0 0 -31 -19 -175 Cross-currency valuation .. .. 50 -103 -143 11 -62 -71 -50 115 Residual .. .. 34 47 26 -29 169 -1 -170 14



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


348MAURITIUS


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 32 467 984 1,818 1,837 1,856 1,847 1,720 1,723 1,803Long-term debt (LDOD) 32 318 910 1,399 1,341 1,283 1,274 953 851 911Public and publicly guaranteed 32 294 762 1,153 1,152 1,126 1,138 834 764 832Private nonguaranteed 0 24 147 246 189 157 136 118 87 79Use of IMF credit 0 102 22 0 0 0 0 0 0 0Short-term debt 0 47 52 419 496 573 573 767 872 892of which interest arrears on LDOD 0 0 2 0 0 0 0 0 0 0 Official creditors 0 0 1 0 0 0 0 0 0 0 Private creditors 0 0 1 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 2 5 0 0 0 0 0 0 0 Official creditors 0 2 4 0 0 0 0 0 0 0 Private creditors 0 0 1 0 0 0 0 0 0 0Memo: export credits 0 0 201 216 286 92 77 34 18 13

TOTAL DEBT FLOWS Disbursements 2 143 161 140 193 60 145 132 71 172Long-term debt 2 97 161 140 193 60 145 132 71 172IMF purchases 0 46 0 0 0 0 0 0 0 0Principal repayments 5 19 103 108 136 153 107 402 133 186Long-term debt 1 19 60 108 136 153 107 402 133 186IMF repurchases 4 0 44 0 0 0 0 0 0 0Net flows on debt -3 104 76 110 134 -16 38 -75 43 6of which short-term debt 0 -20 18 78 77 77 0 194 106 20Interest payments (INT) 2 34 52 90 87 89 84 84 69 65Long-term debt 2 23 43 71 63 62 56 52 38 35IMF charges 0 3 5 0 0 0 0 0 0 0Short-term debt 0 8 5 19 23 27 27 32 31 30Net transfers on debt -5 70 23 21 47 -105 -46 -159 -26 -59Total debt service paid (TDS) 7 52 156 198 223 242 191 485 202 251Long-term debt 3 41 103 179 199 215 163 453 170 221IMF repurchases and charges 4 3 48 0 0 0 0 0 0 0Short-term debt (interest only) 0 8 5 19 23 27 27 32 31 30


NET RESOURCE FLOWS 5 93 167 119 158 -63 38 -112 -87 32Net flow of long-term debt (ex. IMF) 1 79 101 32 57 -93 38 -269 -62 -14Foreign direct investment (net) 2 1 41 37 55 12 49 266 -28 28Portfolio equity flows 0 0 0 37 31 5 -61 -118 -9 0Grants (excluding technical coop.) 3 13 25 13 15 13 12 9 11 19Memo: technical coop. grants 2 11 20 23 23 18 18 16 16 18 official net resource flows 4 45 82 5 12 10 7 0 -23 76 private net resource flows 1 48 85 114 146 -73 31 -113 -64 -43

NET TRANSFERS 4 69 102 38 87 -138 -23 -172 -130 -11Interest on long-term debt 2 23 43 71 63 62 56 52 38 35Profit remittances on FDI 0 1 23 10 8 13 4 8 5 9Memo: official net transfers 3 37 49 -29 -17 -17 -19 -22 -44 55 private net transfers 0 32 53 67 104 -121 -4 -150 -86 -67


Gross national income (GNI) .. 1,130 2,363 4,129 4,350 4,119 4,152 4,389 4,538 4,537Exports of goods, serv. & inc. (XGS) .. 579 1,778 2,802 2,541 2,634 2,668 2,671 2,925 3,040Worker remit. & comp. of employees 0 0 82 160 168 180 178 177 215 215Imports of goods & services (MGS) .. 718 1,994 2,884 2,757 2,726 2,896 2,772 2,717 2,870International reserves (RES) 46 113 761 919 711 577 749 914 853 1,249Current account balance .. -117 -119 34 -89 3 -124 -37 276 259

4. DEBT INDICATORS

EDT / XGS (%) .. 80.8 55.3 64.9 72.3 70.5 69.2 64.4 58.9 59.3EDT / GNI (%) .. 41.3 41.6 44.0 42.2 45.1 44.5 39.2 38.0 39.7TDS / XGS (%) .. 9.0 8.8 7.1 8.8 9.2 7.1 18.2 6.9 8.2INT / XGS (%) .. 5.8 2.9 3.2 3.4 3.4 3.1 3.1 2.4 2.1INT / GNI (%) .. 3.0 2.2 2.2 2.0 2.2 2.0 1.9 1.5 1.4RES / EDT (%) 145.5 24.1 77.4 50.6 38.7 31.1 40.5 53.2 49.5 69.2RES / MGS (months) .. 1.9 4.6 3.8 3.1 2.5 3.1 4.0 3.8 5.2Short-term / EDT (%) 0.0 10.1 5.3 23.1 27.0 30.9 31.0 44.6 50.6 49.5Concessional / EDT (%) 17.4 13.8 35.7 22.2 18.8 19.1 17.1 17.4 15.9 16.3Multilateral / EDT (%) 17.8 16.6 31.6 13.9 13.3 14.0 13.5 12.9 11.1 15.3

349MAURITIUS


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 32 318 910 1,399 1,341 1,283 1,274 953 851 911Public and publicly guaranteed 32 294 762 1,153 1,152 1,126 1,138 834 764 832Official creditors 21 154 647 615 554 581 541 500 440 592 Multilateral 6 78 311 253 245 261 249 221 191 276 Concessional 0 25 64 65 60 60 60 63 56 63 Bilateral 16 76 336 362 310 321 292 279 249 315 Concessional 6 39 288 338 285 294 256 236 218 231Private creditors 10 141 115 537 598 545 597 334 325 240 Bonds 8 0 0 150 150 150 150 0 0 0 Commercial banks 2 138 102 331 392 342 400 324 281 189 Other private 0 3 13 56 56 52 47 10 43 52Private nonguaranteed 0 24 147 246 189 157 136 118 87 79 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 24 147 246 189 157 136 118 87 79Memo: IBRD 6 35 176 124 111 112 107 86 71 94 IDA 0 20 19 16 15 15 14 13 13 12



NET FLOWS ON DEBT 1 79 101 32 57 -93 38 -269 -62 -14Public and publicly guaranteed 1 78 60 49 70 -61 49 -263 -40 3Official creditors 1 31 57 -9 -3 -3 -5 -8 -34 57 Multilateral 0 16 0 3 12 3 -7 -13 -17 69 Concessional 0 3 4 0 0 -3 5 5 -1 3 Bilateral 2 15 56 -12 -15 -6 2 4 -18 -12 Concessional 0 11 53 -14 -17 -7 -9 -3 -6 -16Private creditors -1 47 3 58 73 -58 55 -254 -5 -54 Bonds 0 0 0 0 0 0 0 -150 0 0 Commercial banks -1 48 -4 18 68 -50 63 -70 -39 -55 Other private 0 -1 7 39 5 -8 -8 -34 34 2Private nonguaranteed 0 0 41 -17 -13 -32 -12 -6 -23 -17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 41 -17 -13 -32 -12 -6 -23 -17Memo: IBRD 0 5 -10 -7 -4 -6 -12 -14 -8 20 IDA 0 1 0 -1 -1 -1 -1 -1 -1 -1

350MAURITIUS



NET TRANSFERS ON DEBT -1 56 58 -39 -6 -155 -18 -321 -100 -49Public and publicly guaranteed -1 58 23 -17 9 -122 -6 -314 -76 -31Official creditors 1 24 24 -42 -32 -31 -31 -31 -55 37 Multilateral -1 12 -19 -12 -2 -9 -18 -22 -25 62 Concessional 0 3 3 -2 -1 -3 4 4 -2 2 Bilateral 1 12 43 -30 -31 -22 -13 -9 -30 -26 Concessional 0 11 44 -31 -31 -21 -22 -13 -16 -27Private creditors -1 34 -1 25 41 -91 25 -283 -21 -67 Bonds -1 0 0 -10 -10 -10 -9 -155 0 0 Commercial banks -1 35 -7 -3 48 -71 45 -92 -55 -67 Other private 0 -1 7 38 3 -10 -11 -36 34 0Private nonguaranteed 0 -2 35 -22 -15 -33 -12 -7 -24 -18 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 -2 35 -22 -15 -33 -12 -7 -24 -18Memo: IBRD -1 2 -24 -16 -12 -13 -19 -19 -12 17 IDA 0 1 0 -1 -1 -1 -1 -1 -1 -1


UNDISBURSED DEBT 15 175 245 383 333 310 260 217 362 417Official creditors 15 171 232 355 282 264 218 181 294 390Private creditors 0 3 13 28 51 46 42 36 68 27Memorandum items Concessional LDOD 6 65 351 403 345 354 316 299 274 294 Variable rate LDOD 2 149 281 780 732 675 641 397 348 378 Public sector LDOD 32 294 762 1,153 1,152 1,126 1,138 834 764 832 Private sector LDOD 0 24 147 246 189 157 136 118 87 79



351MAURITIUS




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 138 61 20 19 -9 -128 4 80 Net flows on debt -3 104 76 110 134 -16 38 -75 43 6 Net change in interest arrears .. .. 2 -1 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 40 -47 -72 24 -27 -42 -23 59 Residual .. .. 20 -1 -42 11 -19 -10 -17 15



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


352MEXICO


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 6,969 57,378 104,442 156,255 147,632 158,974 166,463 150,313 145,674 141,264Long-term debt (LDOD) 5,967 41,215 81,809 113,138 110,684 124,273 137,928 131,381 131,118 131,364Public and publicly guaranteed 3,197 33,915 75,974 92,798 83,302 87,045 87,911 81,488 77,027 76,327Private nonguaranteed 2,770 7,300 5,835 20,340 27,382 37,228 50,017 49,893 54,091 55,038Use of IMF credit 0 0 6,551 13,279 9,088 8,380 4,473 0 0 0Short-term debt 1,002 16,163 16,082 29,839 27,860 26,321 24,062 18,932 14,556 9,900of which interest arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: export credits 0 0 15,583 17,033 14,588 3,850 4,179 3,880 3,672 3,397

TOTAL DEBT FLOWS Disbursements 1,375 11,581 14,229 31,440 27,753 28,558 32,443 33,487 36,512 28,640Long-term debt 1,375 11,581 12,045 31,440 27,753 28,558 31,028 32,293 36,512 28,640IMF purchases 0 0 2,184 0 0 0 1,414 1,194 0 0Principal repayments 1,017 4,894 4,012 28,859 30,662 18,050 23,331 44,782 35,338 32,651Long-term debt 1,017 4,760 2,821 26,807 27,223 16,986 18,235 39,289 35,338 32,651IMF repurchases 0 134 1,191 2,052 3,439 1,063 5,096 5,493 0 0Net flows on debt 358 14,825 17,637 -4,881 -4,887 8,969 6,852 -16,426 -3,201 -8,668of which short-term debt 0 8,139 7,420 -7,462 -1,978 -1,539 -2,259 -5,130 -4,376 -4,656Interest payments (INT) 283 6,068 7,301 11,559 11,080 11,087 11,978 14,028 12,598 10,884Long-term debt 283 4,580 5,797 7,945 8,366 8,889 9,778 11,983 11,761 10,640IMF charges 0 4 522 651 482 423 276 153 0 0Short-term debt 0 1,484 982 2,964 2,231 1,774 1,924 1,892 837 245Net transfers on debt 75 8,757 10,336 -16,440 -15,967 -2,118 -5,126 -30,453 -15,800 -19,552Total debt service paid (TDS) 1,301 10,962 11,313 40,418 41,742 29,137 35,310 58,809 47,936 43,535Long-term debt 1,301 9,340 8,618 34,752 35,589 25,876 28,014 51,272 47,099 43,291IMF repurchases and charges 0 138 1,712 2,703 3,922 1,487 5,372 5,646 0 0Short-term debt (interest only) 0 1,484 982 2,964 2,231 1,774 1,924 1,892 837 245


NET RESOURCE FLOWS 689 8,925 13,822 16,651 16,613 22,865 29,648 9,549 27,548 10,549Net flow of long-term debt (ex. IMF) 358 6,821 9,224 4,633 530 11,571 12,793 -6,996 1,174 -4,011Foreign direct investment (net) 323 2,090 2,549 9,186 12,831 11,897 13,055 16,075 26,204 14,622Portfolio equity flows 0 0 1,995 2,801 3,215 -665 3,769 447 150 -104Grants (excluding technical coop.) 8 14 54 30 37 61 31 23 20 42Memo: technical coop. grants 6 44 81 132 101 110 105 111 121 179 official net resource flows 149 809 4,222 -7,566 -4,531 -744 -1,639 -503 -650 288 private net resource flows 540 8,116 9,601 24,217 21,144 23,609 31,286 10,052 28,198 10,261

NET TRANSFERS 405 2,979 5,721 4,684 4,470 8,724 16,347 -8,327 10,468 -3,557Interest on long-term debt 283 4,580 5,797 7,945 8,366 8,889 9,778 11,983 11,761 10,640Profit remittances on FDI 0 1,366 2,304 4,022 3,777 5,251 3,522 5,894 5,319 3,466Memo: official net transfers 89 495 2,844 -10,092 -6,186 -2,260 -3,193 -2,055 -2,078 -939 private net transfers 316 2,484 2,877 14,776 10,656 10,984 19,540 -6,272 12,546 -2,618


Gross national income (GNI) 34,919 187,919 254,084 318,398 388,079 407,744 467,560 565,924 609,998 624,895Exports of goods, serv. & inc. (XGS) .. 24,685 54,570 114,982 130,909 139,659 158,510 192,831 185,137 187,367Worker remit. & comp. of employees 0 1,039 3,098 4,950 5,546 6,503 6,649 7,596 9,919 11,029Imports of goods & services (MGS) .. 35,243 63,504 117,792 138,960 156,117 172,913 211,414 203,648 201,825International reserves (RES) 756 4,175 10,217 19,527 28,852 31,863 31,828 35,577 44,805 50,671Current account balance .. -10,422 -7,451 -2,500 -7,666 -16,073 -13,999 -18,162 -18,068 -14,004

4. DEBT INDICATORS


353MEXICO


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 5,967 41,215 81,809 113,138 110,684 124,273 137,928 131,381 131,118 131,364Public and publicly guaranteed 3,197 33,915 75,974 92,798 83,302 87,045 87,911 81,488 77,027 76,327Official creditors 1,150 4,481 22,621 29,342 22,978 23,056 21,821 20,838 19,852 20,524 Multilateral 749 3,189 14,302 17,735 16,444 17,095 16,690 17,251 16,764 17,523 Concessional 74 193 60 11 7 4 1 0 0 0 Bilateral 401 1,291 8,318 11,607 6,534 5,961 5,131 3,587 3,089 3,001 Concessional 123 120 822 1,526 1,366 1,404 1,382 1,185 1,100 1,299Private creditors 2,047 29,434 53,353 63,456 60,324 63,989 66,089 60,650 57,174 55,803 Bonds 386 3,100 40,100 54,301 51,674 53,185 56,440 52,212 49,914 48,293 Commercial banks 1,267 25,637 6,630 5,269 5,478 8,228 7,070 5,818 5,576 5,980 Other private 394 698 6,624 3,886 3,172 2,576 2,579 2,620 1,685 1,530Private nonguaranteed 2,770 7,300 5,835 20,340 27,382 37,228 50,017 49,893 54,091 55,038 Bonds 0 0 150 14,104 15,810 16,546 18,157 20,644 20,181 19,079 Commercial banks and other 2,770 7,300 5,685 6,236 11,572 20,683 31,860 29,250 33,910 35,958Memo: IBRD 582 2,063 11,030 12,568 11,356 11,514 11,027 11,444 10,883 10,797 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 1,375 11,581 12,045 31,440 27,753 28,558 31,028 32,293 36,512 28,640Public and publicly guaranteed 772 9,131 9,985 22,939 15,338 13,221 9,728 11,187 14,201 10,146Official creditors 229 1,081 5,454 2,466 1,751 2,188 1,495 2,849 1,637 2,623 Multilateral 161 642 3,647 2,090 1,513 1,900 1,328 2,534 1,388 2,245 Concessional 37 3 0 0 0 0 0 0 0 0 Bilateral 68 439 1,807 375 237 288 168 315 249 378 Concessional 9 16 636 206 39 19 9 4 10 231Private creditors 543 8,050 4,532 20,473 13,587 11,033 8,233 8,338 12,564 7,522 Bonds 0 236 975 18,458 11,195 5,893 5,900 6,826 9,600 4,367 Commercial banks 432 7,625 2,552 1,175 2,036 4,780 1,818 1,341 2,790 3,013 Other private 111 189 1,004 840 356 359 515 171 174 142Private nonguaranteed 603 2,450 2,060 8,501 12,415 15,337 21,300 21,106 22,311 18,494 Bonds 0 0 150 2,433 3,690 4,998 5,875 3,346 1,685 2,504 Commercial banks and other 603 2,450 1,910 6,068 8,725 10,339 15,424 17,760 20,626 15,991Memo: IBRD 98 422 3,326 1,051 995 1,283 839 1,748 749 1,247 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 1,017 4,760 2,821 26,807 27,223 16,986 18,235 39,289 35,338 32,651Public and publicly guaranteed 476 4,010 2,625 20,297 21,826 11,496 9,724 16,665 17,482 12,587Official creditors 88 286 1,286 10,062 6,319 2,993 3,165 3,375 2,307 2,378 Multilateral 32 141 1,037 1,713 1,625 1,603 1,695 1,817 1,649 1,734 Concessional 0 12 13 6 5 3 2 1 0 0 Bilateral 56 145 249 8,349 4,693 1,391 1,470 1,558 659 644 Concessional 9 12 0 88 81 78 92 107 95 118Private creditors 388 3,724 1,339 10,235 15,508 8,502 6,559 13,290 15,174 10,210 Bonds 16 123 464 8,119 12,462 5,173 1,819 9,256 10,788 6,688 Commercial banks 266 3,445 185 990 2,103 2,300 4,186 3,206 3,397 3,173 Other private 106 156 690 1,125 942 1,029 554 828 990 349Private nonguaranteed 542 750 196 6,510 5,397 5,491 8,511 22,625 17,856 20,064 Bonds 0 0 0 1,328 1,950 3,291 4,264 3,552 2,148 4,082 Commercial banks and other 542 750 196 5,182 3,447 2,200 4,247 19,072 15,708 15,983Memo: IBRD 23 89 801 1,409 1,311 1,257 1,323 1,330 1,309 1,334 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT 358 6,821 9,224 4,633 530 11,571 12,793 -6,996 1,174 -4,011Public and publicly guaranteed 297 5,121 7,360 2,642 -6,489 1,725 4 -5,477 -3,280 -2,441Official creditors 141 795 4,168 -7,596 -4,568 -805 -1,670 -526 -670 246 Multilateral 129 501 2,610 377 -112 297 -367 717 -261 512 Concessional 37 -9 -13 -6 -5 -3 -2 -1 0 0 Bilateral 12 294 1,558 -7,974 -4,456 -1,103 -1,302 -1,244 -409 -266 Concessional 0 5 635 117 -41 -59 -84 -103 -85 113Private creditors 156 4,326 3,193 10,238 -1,921 2,531 1,674 -4,951 -2,610 -2,687 Bonds -16 112 511 10,339 -1,267 720 4,081 -2,429 -1,188 -2,320 Commercial banks 166 4,180 2,367 185 -67 2,480 -2,368 -1,864 -607 -160 Other private 6 33 314 -285 -586 -670 -39 -657 -816 -207Private nonguaranteed 61 1,700 1,864 1,991 7,019 9,846 12,788 -1,519 4,455 -1,570 Bonds 0 0 150 1,105 1,740 1,708 1,611 -206 -463 -1,578 Commercial banks and other 61 1,700 1,714 886 5,278 8,138 11,177 -1,313 4,918 8Memo: IBRD 76 333 2,524 -359 -316 26 -484 418 -561 -86 IDA 0 0 0 0 0 0 0 0 0 0

354MEXICO


INTEREST PAYMENTS (LINT) 283 4,580 5,797 7,945 8,366 8,889 9,778 11,983 11,761 10,640Public and publicly guaranteed 216 3,880 5,215 6,348 6,211 5,893 6,137 7,763 7,309 6,401Official creditors 60 314 1,378 2,526 1,655 1,516 1,555 1,552 1,428 1,226 Multilateral 39 236 1,005 1,314 1,163 1,143 1,213 1,275 1,253 1,109 Concessional 2 7 2 0 0 0 0 0 0 0 Bilateral 21 78 373 1,212 492 373 341 277 175 117 Concessional 4 5 8 56 51 44 46 44 39 35Private creditors 156 3,565 3,838 3,822 4,556 4,377 4,583 6,211 5,881 5,175 Bonds 27 252 1,112 3,248 3,948 3,824 3,950 4,283 4,106 4,036 Commercial banks 106 3,261 2,195 296 372 375 485 1,333 1,197 1,068 Other private 24 52 531 278 236 177 147 595 578 70Private nonguaranteed 67 700 582 1,598 2,155 2,997 3,641 4,220 4,452 4,238 Bonds 0 0 0 1,096 1,251 1,494 1,461 1,620 1,752 1,540 Commercial banks and other 67 700 582 501 904 1,503 2,180 2,600 2,700 2,698Memo: IBRD 31 166 751 962 791 767 832 890 864 737 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT 75 2,241 3,427 -3,312 -7,836 2,682 3,014 -18,979 -10,587 -14,651Public and publicly guaranteed 81 1,241 2,145 -3,705 -12,700 -4,168 -6,133 -13,240 -10,590 -8,843Official creditors 81 481 2,790 -10,122 -6,223 -2,322 -3,224 -2,079 -2,098 -981 Multilateral 90 264 1,605 -937 -1,275 -846 -1,581 -558 -1,513 -598 Concessional 35 -16 -15 -6 -5 -3 -2 -1 0 0 Bilateral -9 216 1,185 -9,186 -4,948 -1,476 -1,643 -1,521 -585 -383 Concessional -4 0 627 61 -92 -103 -130 -147 -124 77Private creditors -1 760 -645 6,417 -6,476 -1,846 -2,909 -11,162 -8,492 -7,862 Bonds -42 -140 -601 7,091 -5,215 -3,104 130 -6,712 -5,294 -6,357 Commercial banks 60 919 172 -112 -440 2,105 -2,853 -3,197 -1,804 -1,228 Other private -18 -19 -217 -563 -822 -847 -186 -1,252 -1,394 -277Private nonguaranteed -6 1,000 1,282 394 4,863 6,849 9,147 -5,739 3 -5,808 Bonds 0 0 150 9 489 214 150 -1,826 -2,215 -3,118 Commercial banks and other -6 1,000 1,132 385 4,374 6,635 8,997 -3,913 2,218 -2,690Memo: IBRD 45 167 1,773 -1,321 -1,107 -741 -1,316 -472 -1,425 -824 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) 1,301 9,340 8,618 34,752 35,589 25,876 28,014 51,272 47,099 43,291Public and publicly guaranteed 692 7,890 7,840 26,644 28,037 17,388 15,861 24,428 24,791 18,988Official creditors 148 601 2,664 12,588 7,974 4,509 4,720 4,927 3,735 3,604 Multilateral 71 378 2,042 3,027 2,789 2,746 2,908 3,092 2,901 2,843 Concessional 2 18 15 6 5 3 2 1 0 0 Bilateral 77 223 622 9,561 5,185 1,764 1,811 1,836 834 761 Concessional 14 16 9 145 132 122 139 151 134 154Private creditors 544 7,289 5,177 14,056 20,064 12,879 11,142 19,500 21,056 15,385 Bonds 42 376 1,576 11,367 16,410 8,998 5,770 13,538 14,894 10,724 Commercial banks 372 6,706 2,380 1,287 2,476 2,675 4,670 4,539 4,594 4,241 Other private 130 208 1,221 1,403 1,178 1,206 702 1,423 1,568 420Private nonguaranteed 609 1,450 778 8,107 7,552 8,488 12,152 26,844 22,308 24,302 Bonds 0 0 0 2,424 3,201 4,784 5,725 5,172 3,900 5,622 Commercial banks and other 609 1,450 778 5,683 4,351 3,703 6,427 21,672 18,408 18,681Memo: IBRD 54 255 1,553 2,372 2,102 2,024 2,155 2,220 2,173 2,071 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT 557 4,817 8,114 11,960 11,473 16,812 15,839 13,804 12,968 12,866Official creditors 438 2,976 5,140 6,087 5,921 5,699 7,333 6,556 6,130 6,717Private creditors 118 1,841 2,974 5,873 5,552 11,112 8,506 7,248 6,838 6,148Memorandum items Concessional LDOD 196 313 883 1,537 1,373 1,408 1,384 1,185 1,100 1,299 Variable rate LDOD 2,951 31,271 40,382 60,687 55,585 69,166 81,413 76,306 77,839 78,035 Public sector LDOD 3,165 33,249 75,595 92,393 83,098 86,867 87,806 81,392 76,954 76,268 Private sector LDOD 2,801 7,966 6,214 20,744 27,587 37,406 50,122 49,989 54,164 55,096



355MEXICO



Total amount rescheduled .. .. 36,950 0 0 0 0 0 0 23 Debt stock rescheduled .. .. 36,100 0 0 0 0 0 0 0 Principal rescheduled .. .. 570 0 0 0 0 0 0 0 Official .. .. 382 0 0 0 0 0 0 0 Private .. .. 188 0 0 0 0 0 0 0 Interest rescheduled .. .. 204 0 0 0 0 0 0 0 Official .. .. 132 0 0 0 0 0 0 0 Private .. .. 72 0 0 0 0 0 0 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 8,145 3,181 0 0 0 7,122 8,832 2,172 of which debt buyback .. .. 0 2,420 0 0 0 6,644 8,400 2,172

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 10,601 -9,124 -8,623 11,342 7,489 -16,150 -4,639 -4,410 Net flows on debt 358 14,825 17,637 -4,881 -4,887 8,969 6,852 -16,426 -3,201 -8,668 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 204 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -8,145 -761 0 0 0 -478 -431 0 Cross-currency valuation .. .. 3,254 -3,686 -3,982 1,852 -1,206 -2,376 -982 982 Residual .. .. -2,349 204 246 521 1,843 3,130 -24 3,276

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 8.1 11.3 8.6 7.8 7.3 7.5 7.7 7.7 7.1 5.8 Maturity (years) 11.6 9.9 13.4 8.1 9.9 14.7 8.9 10.7 15.4 15.9 Grace period (years) 3.4 4.3 5.4 6.5 6.9 5.5 6.2 7.7 12.8 9.7 Grant element (%) 9.9 -5.7 7.3 6.0 12.2 10.1 9.7 10.4 14.9 23.0Official creditors Interest (%) 6.7 8.0 7.8 6.2 7.0 6.4 5.7 5.4 5.6 4.1 Maturity (years) 18.5 15.3 15.6 14.1 14.6 15.6 14.9 14.7 18.6 18.0 Grace period (years) 4.0 3.3 4.5 4.0 4.4 3.5 6.6 4.8 4.9 4.8 Grant element (%) 19.4 10.1 12.3 19.8 16.0 19.5 25.7 27.0 25.7 34.6Private creditors Interest (%) 8.9 12.6 9.4 7.8 7.3 7.6 8.5 8.5 7.3 6.6 Maturity (years) 7.1 7.7 11.4 7.9 9.2 14.6 6.5 9.4 14.9 14.8 Grace period (years) 3.1 4.7 6.1 6.6 7.3 5.7 6.1 8.7 14.0 12.3 Grant element (%) 3.6 -12.0 2.9 5.5 11.6 8.8 3.3 4.9 13.2 17.0Memorandum items Commitments 858 7,632 12,484 23,720 15,297 19,292 11,420 10,531 14,317 10,510 Official creditors 338 2,187 5,918 865 1,903 2,359 3,270 2,622 1,964 3,597 Private creditors 520 5,445 6,567 22,855 13,394 16,933 8,151 7,909 12,353 6,913


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 8,419 1,765 1,038 700 418 269 149 57 33 18Principal 22,912 20,763 13,116 12,676 11,196 12,264 7,046 5,552 7,311 3,217Interest 10,083 8,561 7,163 6,202 5,325 4,518 3,555 3,057 2,952 2,171Official creditors Disbursements 2,402 1,656 1,022 698 417 267 148 56 33 18Principal 2,849 2,622 2,513 2,596 2,141 1,938 2,175 1,437 1,748 1,378Interest 1,104 1,010 905 783 655 554 469 377 309 248 Bilateral creditors Disbursements 714 333 117 52 15 4 2 0 0 0 Principal 935 712 467 389 200 204 180 166 151 147 Interest 120 93 71 54 42 38 33 29 25 21 Multilateral creditors Disbursements 1,688 1,323 905 646 402 264 146 56 33 18 Principal 1,914 1,910 2,047 2,207 1,941 1,734 1,996 1,271 1,596 1,232 Interest 984 917 834 729 613 516 436 348 285 227Private creditors Disbursements 6,016 110 15 2 2 1 1 1 0 0Principal 20,062 18,141 10,603 10,080 9,055 10,326 4,870 4,115 5,563 1,839Interest 8,979 7,551 6,258 5,420 4,670 3,965 3,086 2,680 2,643 1,923 Commercial banks Disbursements 497 35 8 2 2 1 1 1 0 0 Principal 1,813 2,172 616 616 431 162 157 150 143 138 Interest 160 99 66 48 33 24 18 14 9 5 Other private Disbursements 369 74 7 0 0 0 0 0 0 0 Principal 18,249 15,969 9,986 9,464 8,625 10,164 4,713 3,964 5,420 1,701 Interest 8,819 7,452 6,192 5,371 4,636 3,941 3,068 2,666 2,633 1,918

356MOLDOVA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 848 1,082 1,071 1,025 1,247 1,235 1,349Long-term debt (LDOD) .. .. .. 573 845 873 834 1,065 1,068 1,126Public and publicly guaranteed .. .. .. 554 801 801 723 868 800 846Private nonguaranteed .. .. .. 19 44 72 111 197 267 280Use of IMF credit .. .. .. 248 233 177 175 154 146 152Short-term debt .. .. .. 27 4 21 16 28 22 71of which interest arrears on LDOD .. .. .. 1 0 14 15 22 16 37 Official creditors .. .. .. 1 0 5 7 1 3 0 Private creditors .. .. .. 0 0 9 8 21 12 37Memo: principal arrears on LDOD .. .. .. 0 15 61 105 33 27 48 Official creditors .. .. .. 0 15 32 74 4 4 0 Private creditors .. .. .. 0 0 29 31 29 23 48Memo: export credits .. .. .. 50 54 6 17 14 17 20

TOTAL DEBT FLOWS Disbursements .. .. .. 201 368 105 246 188 106 139Long-term debt .. .. .. 169 347 105 177 176 94 127IMF purchases .. .. .. 33 21 0 68 12 12 12Principal repayments .. .. .. 48 82 147 153 82 113 183Long-term debt .. .. .. 41 62 83 87 58 98 165IMF repurchases .. .. .. 7 20 64 65 25 14 18Net flows on debt .. .. .. 178 263 -39 87 110 -7 -16of which short-term debt .. .. .. 25 -22 3 -6 4 0 28Interest payments (INT) .. .. .. 36 51 55 58 55 55 46Long-term debt .. .. .. 24 40 45 50 47 49 42IMF charges .. .. .. 10 11 10 8 8 6 4Short-term debt .. .. .. 1 0 0 0 0 0 0Net transfers on debt .. .. .. 142 212 -94 29 55 -62 -62Total debt service paid (TDS) .. .. .. 84 133 202 211 137 168 228Long-term debt .. .. .. 65 102 128 138 104 147 207IMF repurchases and charges .. .. .. 18 31 74 73 33 21 21Short-term debt (interest only) .. .. .. 1 0 0 0 0 0 0


NET RESOURCE FLOWS .. .. .. 152 379 123 156 287 153 105Net flow of long-term debt (ex. IMF) .. .. .. 128 285 22 90 118 -5 -38Foreign direct investment (net) .. .. .. 24 79 76 38 129 100 111Portfolio equity flows .. .. .. 1 4 7 6 3 4 2Grants (excluding technical coop.) .. .. .. 0 12 20 23 37 54 31Memo: technical coop. grants .. .. .. 0 16 18 45 44 41 76 official net resource flows .. .. .. 38 63 61 110 74 46 28 private net resource flows .. .. .. 114 316 63 46 214 107 77



Gross national income (GNI) .. .. .. 1,750 1,976 1,735 1,197 1,352 1,580 1,774Exports of goods, serv. & inc. (XGS) .. .. .. 1,031 1,191 934 731 815 971 1,147Worker remit. & comp. of employees .. .. .. 87 114 122 110 159 224 269Imports of goods & services (MGS) .. .. .. 1,293 1,519 1,333 885 1,073 1,223 1,404International reserves (RES) .. .. .. 312 366 144 186 222 229 269Current account balance .. .. .. -192 -275 -335 -68 -97 -95 -103

4. DEBT INDICATORS


357MOLDOVA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 573 845 873 834 1,065 1,068 1,126Public and publicly guaranteed .. .. .. 554 801 801 723 868 800 846Official creditors .. .. .. 456 480 525 598 548 521 570 Multilateral .. .. .. 253 289 332 395 418 402 435 Concessional .. .. .. 0 35 38 77 104 114 147 Bilateral .. .. .. 203 191 193 202 131 119 135 Concessional .. .. .. 109 106 113 111 102 93 121Private creditors .. .. .. 99 322 276 125 319 279 276 Bonds .. .. .. 0 75 75 75 75 40 37 Commercial banks .. .. .. 84 78 32 30 12 12 10 Other private .. .. .. 15 169 169 20 232 228 228Private nonguaranteed .. .. .. 19 44 72 111 197 267 280 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 19 44 72 111 197 267 280Memo: IBRD .. .. .. 142 135 169 199 191 181 186 IDA .. .. .. 0 35 38 77 103 113 145



NET FLOWS ON DEBT .. .. .. 128 285 22 90 118 -5 -38Public and publicly guaranteed .. .. .. 118 259 -6 57 36 -37 -46Official creditors .. .. .. 38 52 41 87 36 -8 -3 Multilateral .. .. .. 51 59 43 77 40 -1 5 Concessional .. .. .. 0 35 2 39 30 15 24 Bilateral .. .. .. -13 -7 -3 11 -4 -7 -7 Concessional .. .. .. 12 0 3 -3 -5 -6 -4Private creditors .. .. .. 80 207 -47 -30 -1 -29 -44 Bonds .. .. .. 0 75 0 0 0 -25 -43 Commercial banks .. .. .. 80 -3 -47 -1 0 0 0 Other private .. .. .. 0 135 0 -29 -1 -3 0Private nonguaranteed .. .. .. 10 26 27 32 82 33 8 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 10 26 27 32 82 33 8Memo: IBRD .. .. .. 0 5 26 31 1 -3 -4 IDA .. .. .. 0 35 2 39 30 14 22

358MOLDOVA



NET TRANSFERS ON DEBT .. .. .. 103 245 -23 40 72 -53 -80Public and publicly guaranteed .. .. .. 94 220 -48 11 -4 -77 -72Official creditors .. .. .. 15 32 13 67 14 -30 -19 Multilateral .. .. .. 36 45 19 61 22 -19 -8 Concessional .. .. .. 0 35 2 39 30 14 23 Bilateral .. .. .. -21 -13 -6 7 -8 -11 -11 Concessional .. .. .. 11 -3 1 -5 -8 -9 -7Private creditors .. .. .. 79 188 -60 -56 -18 -47 -53 Bonds .. .. .. 0 71 -7 -7 -7 -33 -45 Commercial banks .. .. .. 80 -9 -50 -4 0 0 0 Other private .. .. .. -1 126 -3 -45 -10 -14 -8Private nonguaranteed .. .. .. 9 25 25 28 76 24 -8 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 9 25 25 28 76 24 -8Memo: IBRD .. .. .. -10 -4 17 20 -10 -13 -12 IDA .. .. .. 0 35 2 39 30 13 21





359MOLDOVA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 152 235 -11 -46 222 -12 114 Net flows on debt .. .. .. 178 263 -39 87 110 -7 -16 Net change in interest arrears .. .. 0 -4 0 14 1 7 -6 22 Interest capitalized .. .. .. 6 0 0 0 6 0 1 Debt forgiveness or reduction .. .. 0 0 0 0 -123 0 -10 0 Cross-currency valuation .. .. 0 -47 -45 -5 -18 -32 -24 48 Residual .. .. 0 19 17 19 7 131 36 59



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


360MONGOLIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 534.1 606.2 726.7 914.1 896.4 885.0 1,037.2Long-term debt (LDOD) .. .. .. 485.8 533.3 650.0 841.1 833.4 823.7 950.4Public and publicly guaranteed .. .. .. 485.8 533.3 650.0 841.1 833.4 823.7 950.4Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Use of IMF credit .. .. .. 43.6 47.6 48.3 51.4 50.3 46.8 42.6Short-term debt .. .. .. 4.8 25.3 28.4 21.6 12.8 14.4 44.2of which interest arrears on LDOD .. .. .. 0.5 0.3 0.3 1.0 1.7 3.3 3.0 Official creditors .. .. .. 0.0 0.0 0.0 0.8 1.6 3.3 3.0 Private creditors .. .. .. 0.5 0.3 0.3 0.2 0.1 0.0 0.0Memo: principal arrears on LDOD .. .. .. 4.1 7.0 11.4 28.9 17.3 14.9 15.3 Official creditors .. .. .. 0.9 4.5 9.5 28.1 17.0 14.9 15.3 Private creditors .. .. .. 3.1 2.6 1.9 0.7 0.3 0.0 0.0Memo: export credits .. .. .. 39.1 51.6 43.7 13.4 5.4 12.6 58.5

TOTAL DEBT FLOWS Disbursements .. .. .. 86.4 146.1 96.8 113.2 83.1 87.7 83.4Long-term debt .. .. .. 78.4 138.4 96.8 105.0 75.2 82.5 83.4IMF purchases .. .. .. 8.1 7.7 0.0 8.1 7.8 5.2 0.0Principal repayments .. .. .. 44.0 50.5 22.4 10.5 28.2 34.9 39.9Long-term debt .. .. .. 34.0 49.6 21.2 6.7 21.8 28.1 32.2IMF repurchases .. .. .. 10.0 0.9 1.3 3.8 6.4 6.8 7.7Net flows on debt .. .. .. 35.6 116.3 77.5 95.1 45.4 52.8 73.5of which short-term debt .. .. .. -6.9 20.7 3.1 -7.5 -9.5 0.0 30.1Interest payments (INT) .. .. .. 8.8 12.5 8.6 11.0 10.5 10.4 12.5Long-term debt .. .. .. 8.1 11.6 6.9 9.4 9.4 9.8 11.8IMF charges .. .. .. 0.5 0.2 0.2 0.3 0.3 0.2 0.2Short-term debt .. .. .. 0.2 0.6 1.5 1.3 0.8 0.4 0.5Net transfers on debt .. .. .. 26.8 103.8 68.9 84.2 34.9 42.3 61.1Total debt service paid (TDS) .. .. .. 52.8 63.0 31.1 21.5 38.6 45.3 52.4Long-term debt .. .. .. 42.1 61.2 28.1 16.1 31.2 37.9 44.0IMF repurchases and charges .. .. .. 10.5 1.1 1.5 4.1 6.6 7.1 7.9Short-term debt (interest only) .. .. .. 0.2 0.6 1.5 1.3 0.8 0.4 0.5


NET RESOURCE FLOWS .. .. .. 120.8 172.9 148.4 178.4 189.0 164.6 196.4Net flow of long-term debt (ex. IMF) .. .. .. 44.3 88.8 75.7 98.3 53.4 54.4 51.1Foreign direct investment (net) .. .. .. 15.9 25.0 18.9 30.4 53.7 43.0 77.8Portfolio equity flows .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. .. .. 60.6 59.1 53.8 49.7 81.9 67.2 67.5Memo: technical coop. grants .. .. .. 51.3 54.0 58.5 64.8 61.1 66.4 69.4 official net resource flows .. .. .. 124.0 164.2 144.5 150.9 138.0 123.0 118.7 private net resource flows .. .. .. -3.2 8.7 3.8 27.5 51.0 41.7 77.7

NET TRANSFERS .. .. .. 96.6 153.6 141.0 168.6 170.8 148.9 179.5Interest on long-term debt .. .. .. 8.1 11.6 6.9 9.4 9.4 9.8 11.8Profit remittances on FDI .. .. .. 16.1 7.6 0.5 0.4 8.8 5.9 5.1Memo: official net transfers .. .. .. 118.9 155.1 138.8 142.0 128.9 113.2 107.0 private net transfers .. .. .. -22.2 -1.5 2.2 26.6 41.9 35.7 72.5


Gross national income (GNI) .. .. .. 1,037.0 892.4 972.5 895.4 954.5 1,030.5 1,119.8Exports of goods, serv. & inc. (XGS) .. .. .. 492.5 627.3 555.8 544.0 638.5 676.5 778.3Worker remit. & comp. of employees .. .. .. 0.0 0.0 5.5 7.2 12.0 25.0 56.3Imports of goods & services (MGS) .. .. .. 599.2 576.3 680.7 663.0 790.7 846.1 964.6International reserves (RES) .. .. .. 161.0 200.4 103.2 136.9 202.1 256.6 398.5Current account balance .. .. .. -36.9 102.9 -74.7 -51.9 -69.9 -62.1 -105.0

4. DEBT INDICATORS


361MONGOLIA


5. LONG-TERM DEBT




NET FLOWS ON DEBT .. .. .. 44.3 88.8 75.7 98.3 53.4 54.4 51.1Public and publicly guaranteed .. .. .. 44.3 88.8 75.7 98.3 53.4 54.4 51.1Official creditors .. .. .. 63.5 105.2 90.7 101.2 56.1 55.7 51.3 Multilateral .. .. .. 45.1 101.4 48.9 63.7 47.3 54.6 40.7 Concessional .. .. .. 45.1 101.4 48.9 63.7 47.3 54.6 40.7 Bilateral .. .. .. 18.4 3.7 41.8 37.6 8.9 1.1 10.6 Concessional .. .. .. 26.3 24.5 47.5 41.1 12.4 1.1 10.6Private creditors .. .. .. -19.1 -16.3 -15.1 -2.9 -2.7 -1.3 -0.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. -4.1 -4.1 -3.7 -0.3 -0.3 -0.1 -0.1 Other private .. .. .. -15.0 -12.2 -11.4 -2.6 -2.4 -1.2 0.0Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 11.0 33.8 16.7 14.2 14.1 23.5 13.3

362MONGOLIA



NET TRANSFERS ON DEBT .. .. .. 36.3 77.2 68.7 88.9 44.0 44.6 39.4Public and publicly guaranteed .. .. .. 36.3 77.2 68.7 88.9 44.0 44.6 39.4Official creditors .. .. .. 58.3 96.1 85.0 92.3 47.0 46.0 39.5 Multilateral .. .. .. 43.5 99.4 46.2 60.2 43.2 50.6 36.1 Concessional .. .. .. 43.5 99.4 46.2 60.2 43.2 50.6 36.1 Bilateral .. .. .. 14.8 -3.3 38.8 32.1 3.8 -4.6 3.5 Concessional .. .. .. 24.3 18.8 45.0 35.9 7.4 -4.6 3.5Private creditors .. .. .. -22.0 -18.9 -16.2 -3.4 -3.0 -1.4 -0.2 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. -4.6 -4.6 -3.9 -0.4 -0.3 -0.2 -0.2 Other private .. .. .. -17.4 -14.2 -12.4 -3.0 -2.6 -1.2 0.0Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 10.5 33.3 16.0 13.3 13.1 22.5 12.1





363MONGOLIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. .. 3.4 72.1 120.5 187.4 -17.7 -11.5 152.2 Net flows on debt .. .. .. 35.6 116.3 77.5 95.1 45.4 52.8 73.5 Net change in interest arrears .. .. .. 0.0 -0.1 -0.1 0.7 0.7 1.6 -0.2 Interest capitalized .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. .. -30.8 -39.4 38.0 21.1 -60.3 -63.1 74.5 Residual .. .. .. -1.3 -4.7 5.1 70.4 -3.4 -2.7 4.4



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


364MOROCCO


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 985 9,722 25,017 24,269 23,549 23,714 22,982 20,721 19,308 18,601Long-term debt (LDOD) 886 8,488 23,860 22,833 21,399 21,883 20,966 19,161 17,638 16,913Public and publicly guaranteed 871 8,338 23,660 22,441 20,447 20,766 18,871 17,300 15,885 15,001Private nonguaranteed 15 150 200 392 952 1,117 2,095 1,862 1,753 1,912Use of IMF credit 28 457 750 3 0 0 0 0 0 0Short-term debt 71 777 407 1,432 2,150 1,831 2,016 1,559 1,669 1,688of which interest arrears on LDOD 0 2 182 95 97 99 110 111 111 111 Official creditors 0 2 182 95 97 98 109 111 111 111 Private creditors 0 0 0 0 0 1 1 1 1 0Memo: principal arrears on LDOD 0 3 738 182 195 215 423 526 527 526 Official creditors 0 3 738 179 195 210 418 523 522 523 Private creditors 0 0 0 2 0 5 6 4 4 3Memo: export credits 0 0 8,416 7,042 6,513 1,266 1,149 940 782 886

TOTAL DEBT FLOWS Disbursements 196 2,452 1,853 1,929 1,508 1,683 1,685 1,638 1,189 1,451Long-term debt 186 2,174 1,788 1,929 1,508 1,683 1,685 1,638 1,189 1,451IMF purchases 10 278 65 0 0 0 0 0 0 0Principal repayments 54 678 908 2,004 2,003 1,769 1,982 1,629 1,577 2,584Long-term debt 40 591 680 1,957 2,000 1,769 1,982 1,629 1,577 2,584IMF repurchases 14 88 228 47 3 0 0 0 0 0Net flows on debt 142 1,814 1,032 1,156 221 -406 -124 -448 -278 -1,114of which short-term debt 0 40 86 1,231 716 -321 174 -458 110 19Interest payments (INT) 26 768 887 1,378 1,137 1,126 1,172 1,060 979 1,107Long-term debt 26 651 795 1,336 1,036 1,020 1,071 948 925 1,077IMF charges 0 12 72 2 0 0 0 0 0 0Short-term debt 0 105 20 40 100 106 102 112 54 29Net transfers on debt 116 1,046 145 -222 -915 -1,533 -1,296 -1,508 -1,257 -2,221Total debt service paid (TDS) 80 1,446 1,795 3,382 3,140 2,895 3,155 2,688 2,556 3,691Long-term debt 66 1,241 1,475 3,293 3,036 2,789 3,053 2,576 2,502 3,662IMF repurchases and charges 14 99 300 49 3 0 0 0 0 0Short-term debt (interest only) 0 105 20 40 100 106 102 112 54 29


NET RESOURCE FLOWS 190 1,748 1,753 792 1,015 709 1,402 641 2,587 -557Net flow of long-term debt (ex. IMF) 146 1,584 1,108 -28 -491 -85 -298 10 -388 -1,133Foreign direct investment (net) 20 89 165 322 1,188 417 1,376 423 2,808 428Portfolio equity flows 0 0 0 142 38 24 6 18 -7 -14Grants (excluding technical coop.) 24 75 480 356 281 353 318 191 174 163Memo: technical coop. grants 29 123 182 249 215 228 230 193 211 283 official net resource flows 144 828 1,270 508 -302 -84 224 -109 -276 -572 private net resource flows 46 921 483 283 1,318 793 1,178 750 2,863 15

NET TRANSFERS 165 1,049 889 -660 -181 -454 145 -575 1,261 -2,116Interest on long-term debt 26 651 795 1,336 1,036 1,020 1,071 948 925 1,077Profit remittances on FDI 0 49 69 116 160 143 186 268 401 482Memo: official net transfers 126 692 690 -381 -1,106 -864 -444 -659 -925 -1,498 private net transfers 39 357 199 -279 925 409 590 84 2,187 -618


Gross national income (GNI) 3,945 18,402 24,835 35,330 32,239 34,784 34,263 32,462 33,068 35,356Exports of goods, serv. & inc. (XGS) .. 4,324 8,328 11,984 11,575 12,175 12,749 12,890 14,758 15,453Worker remit. & comp. of employees 0 1,054 2,006 2,166 1,893 2,011 1,938 2,161 3,261 2,877Imports of goods & services (MGS) .. 5,807 8,853 12,360 11,975 12,653 13,132 13,686 13,441 14,429International reserves (RES) 142 814 2,338 4,054 4,197 4,638 5,894 5,017 8,669 10,375Current account balance .. -1,407 -196 35 -87 -144 -167 -475 1,611 1,477

4. DEBT INDICATORS


365MOROCCO


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 886 8,488 23,860 22,833 21,399 21,883 20,966 19,161 17,638 16,913Public and publicly guaranteed 871 8,338 23,660 22,441 20,447 20,766 18,871 17,300 15,885 15,001Official creditors 742 3,519 16,981 16,519 14,941 15,032 13,975 12,843 11,949 11,904 Multilateral 59 723 4,687 6,895 6,311 6,728 6,602 6,135 5,761 5,695 Concessional 3 79 405 767 839 923 991 989 973 978 Bilateral 683 2,796 12,294 9,624 8,631 8,303 7,373 6,709 6,188 6,209 Concessional 620 2,638 7,570 6,199 5,934 6,012 5,575 5,109 4,787 4,818Private creditors 129 4,818 6,679 5,921 5,506 5,734 4,896 4,456 3,936 3,097 Bonds 31 173 0 286 250 267 197 152 114 102 Commercial banks 0 2,807 3,963 3,976 3,963 4,133 3,563 3,343 3,091 2,389 Other private 98 1,839 2,716 1,659 1,292 1,335 1,135 961 731 606Private nonguaranteed 15 150 200 392 952 1,117 2,095 1,862 1,753 1,912 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 15 150 200 392 952 1,117 2,095 1,862 1,753 1,912Memo: IBRD 56 539 3,099 3,732 3,271 3,388 3,194 2,837 2,500 2,549 IDA 3 39 39 32 31 29 28 27 25 24

DISBURSEMENTS 186 2,174 1,788 1,929 1,508 1,683 1,685 1,638 1,189 1,451Public and publicly guaranteed 179 2,099 1,780 1,838 1,233 1,345 1,295 980 637 696Official creditors 145 866 1,220 1,492 959 874 1,044 629 541 606 Multilateral 16 109 781 879 560 623 783 466 368 485 Concessional 2 22 39 179 126 100 122 61 56 95 Bilateral 130 757 439 613 399 251 260 164 174 121 Concessional 90 709 287 409 324 197 181 119 144 121Private creditors 33 1,233 560 346 274 471 251 351 96 91 Bonds 0 6 0 293 0 0 0 0 0 0 Commercial banks 0 672 190 9 96 337 37 179 70 78 Other private 33 555 371 44 178 135 214 172 26 13Private nonguaranteed 8 75 8 91 275 338 390 658 552 754 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 75 8 91 275 338 390 658 552 754Memo: IBRD 14 64 426 380 141 253 404 138 61 45 IDA 2 1 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 40 591 680 1,957 2,000 1,769 1,982 1,629 1,577 2,584Public and publicly guaranteed 38 566 672 1,927 1,956 1,725 1,938 1,590 1,519 1,956Official creditors 25 114 430 1,340 1,542 1,312 1,138 929 991 1,340 Multilateral 5 39 276 569 659 511 529 550 529 797 Concessional 0 0 13 26 29 32 33 51 59 64 Bilateral 20 75 154 771 883 800 608 379 463 543 Concessional 15 61 33 198 209 233 229 237 311 393Private creditors 13 452 242 587 413 413 801 661 528 616 Bonds 3 9 0 0 0 0 35 30 29 31 Commercial banks 0 295 40 167 148 139 500 350 282 396 Other private 9 149 202 419 266 274 266 280 216 189Private nonguaranteed 3 25 8 30 44 44 44 39 58 628 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 25 8 30 44 44 44 39 58 628Memo: IBRD 5 29 202 341 306 286 302 307 279 267 IDA 0 0 1 1 1 1 1 1 1 1

NET FLOWS ON DEBT 146 1,584 1,108 -28 -491 -85 -298 10 -388 -1,133Public and publicly guaranteed 141 1,534 1,108 -89 -723 -379 -644 -610 -882 -1,259Official creditors 120 752 790 153 -583 -438 -94 -300 -450 -734 Multilateral 11 70 506 310 -100 112 254 -84 -161 -312 Concessional 2 22 25 153 98 68 89 10 -3 31 Bilateral 109 682 284 -158 -484 -550 -348 -216 -289 -422 Concessional 75 648 254 211 115 -36 -48 -118 -166 -272Private creditors 21 781 318 -241 -140 58 -550 -310 -432 -525 Bonds -3 -2 0 293 0 0 -35 -30 -29 -31 Commercial banks 0 377 150 -159 -52 197 -463 -171 -212 -318 Other private 24 406 169 -376 -88 -139 -52 -109 -191 -176Private nonguaranteed 5 50 0 61 231 294 346 619 494 126 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 5 50 0 61 231 294 346 619 494 126Memo: IBRD 9 35 224 39 -165 -34 102 -169 -218 -222 IDA 2 1 -1 -1 -1 -1 -1 -1 -1 -1

366MOROCCO


INTEREST PAYMENTS (LINT) 26 651 795 1,336 1,036 1,020 1,071 948 925 1,077Public and publicly guaranteed 25 639 790 1,325 989 973 1,013 877 877 1,055Official creditors 18 135 580 889 803 779 668 550 649 926 Multilateral 4 56 306 465 421 388 392 363 407 328 Concessional 0 1 7 24 27 32 31 31 78 34 Bilateral 15 79 274 424 382 391 277 187 242 598 Concessional 13 69 57 142 137 167 172 118 189 556Private creditors 6 504 210 436 185 194 344 327 228 129 Bonds 2 15 0 0 17 17 16 14 13 14 Commercial banks 0 364 45 281 42 62 232 228 153 64 Other private 4 125 165 155 127 115 97 85 62 51Private nonguaranteed 1 11 5 11 48 48 58 71 48 23 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 11 5 11 48 48 58 71 48 23Memo: IBRD 4 49 226 258 238 206 212 190 173 145 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT 121 933 313 -1,364 -1,528 -1,106 -1,368 -938 -1,313 -2,211Public and publicly guaranteed 116 894 318 -1,414 -1,712 -1,352 -1,656 -1,486 -1,759 -2,314Official creditors 102 617 210 -737 -1,387 -1,217 -762 -850 -1,099 -1,660 Multilateral 7 14 199 -155 -521 -276 -138 -447 -568 -640 Concessional 2 21 19 129 70 36 58 -21 -81 -2 Bilateral 95 603 10 -582 -866 -941 -624 -403 -531 -1,020 Concessional 62 579 197 69 -22 -204 -219 -236 -355 -828Private creditors 15 277 108 -677 -325 -135 -894 -637 -660 -654 Bonds -5 -17 0 293 -17 -17 -51 -44 -42 -45 Commercial banks 0 13 105 -440 -93 135 -695 -399 -365 -383 Other private 20 281 3 -531 -215 -254 -148 -194 -253 -227Private nonguaranteed 4 39 -5 50 184 246 288 548 446 103 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 39 -5 50 184 246 288 548 446 103Memo: IBRD 5 -14 -2 -219 -403 -240 -109 -359 -391 -367 IDA 2 0 -1 -2 -2 -2 -2 -2 -2 -2

DEBT SERVICE (LTDS) 66 1,241 1,475 3,293 3,036 2,789 3,053 2,576 2,502 3,662Public and publicly guaranteed 62 1,205 1,462 3,252 2,945 2,697 2,951 2,466 2,396 3,011Official creditors 44 249 1,010 2,229 2,346 2,091 1,806 1,479 1,640 2,266 Multilateral 9 95 582 1,034 1,080 899 921 912 935 1,125 Concessional 0 1 20 51 56 63 64 82 137 98 Bilateral 35 154 428 1,195 1,265 1,191 885 567 705 1,141 Concessional 28 130 90 340 345 401 401 356 499 949Private creditors 19 956 452 1,023 599 607 1,145 987 756 745 Bonds 5 23 0 0 17 17 51 44 42 45 Commercial banks 0 659 85 449 189 202 732 578 435 460 Other private 14 274 367 574 393 389 363 365 278 240Private nonguaranteed 3 36 13 41 92 92 102 110 106 651 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 36 13 41 92 92 102 110 106 651Memo: IBRD 9 78 428 599 544 493 514 497 451 412 IDA 0 0 1 2 2 2 2 2 2 2

UNDISBURSED DEBT 242 2,291 4,086 4,337 4,478 4,188 4,484 3,635 3,953 4,843Official creditors 221 1,882 3,416 3,899 3,915 3,690 3,771 3,201 3,641 4,492Private creditors 21 409 671 438 563 498 712 434 312 352Memorandum items Concessional LDOD 622 2,717 7,974 6,966 6,773 6,935 6,566 6,098 5,760 5,797 Variable rate LDOD 15 2,626 7,827 8,230 8,273 8,554 8,784 7,825 7,077 6,870 Public sector LDOD 864 8,283 23,596 22,198 20,232 20,572 18,692 17,140 15,784 14,900 Private sector LDOD 23 204 264 634 1,167 1,311 2,274 2,021 1,854 2,014



367MOROCCO



Total amount rescheduled .. .. 4,118 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 2,732 0 0 0 0 0 0 0 Principal rescheduled .. .. 591 0 0 0 0 0 0 0 Official .. .. 389 0 0 0 0 0 0 0 Private .. .. 203 0 0 0 0 0 0 0 Interest rescheduled .. .. 219 0 0 0 0 0 0 0 Official .. .. 137 0 0 0 0 0 0 0 Private .. .. 82 0 0 0 0 0 0 0Debt forgiven .. .. 31 0 5 0 0 117 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 2,774 447 -719 165 -732 -2,261 -1,413 -707 Net flows on debt 142 1,814 1,032 1,156 221 -406 -124 -448 -278 -1,114 Net change in interest arrears .. .. 43 3 2 2 11 1 0 0 Interest capitalized .. .. 219 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -31 0 -5 0 0 -117 0 0 Cross-currency valuation .. .. 1,099 -1,101 -1,484 700 -1,209 -736 -556 1,388 Residual .. .. 412 389 547 -131 589 -960 -580 -980

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.3 8.1 6.8 6.0 5.1 3.8 3.6 3.6 3.7 3.5 Maturity (years) 27.2 18.6 19.7 14.0 16.1 17.6 17.0 22.7 19.2 18.2 Grace period (years) 7.4 5.3 6.2 3.8 5.1 5.8 4.7 5.9 5.4 4.3 Grant element (%) 38.0 14.4 23.8 21.8 29.5 39.8 38.4 43.5 39.6 39.8Official creditors Interest (%) 3.9 4.1 5.4 5.6 4.6 2.9 3.2 3.5 3.7 3.5 Maturity (years) 31.7 20.7 23.7 16.4 18.2 21.1 19.4 24.3 19.2 18.5 Grace period (years) 8.8 5.3 8.3 4.5 5.7 6.3 5.8 6.3 5.4 4.4 Grant element (%) 44.0 39.5 35.9 26.1 34.3 48.7 44.5 46.3 39.6 40.6Private creditors Interest (%) 6.1 11.7 9.7 6.7 6.5 5.3 4.8 4.8 6.8 5.1 Maturity (years) 8.6 16.7 11.6 9.2 9.6 11.4 10.3 10.7 8.6 11.5 Grace period (years) 1.7 5.3 2.1 2.5 3.4 5.0 1.7 2.8 2.3 0.4 Grant element (%) 13.7 -8.1 0.0 13.2 14.7 23.7 21.2 23.5 8.0 18.7Memorandum items Commitments 251 2,109 2,401 1,168 1,972 1,189 2,005 504 1,392 1,094 Official creditors 201 999 1,596 775 1,490 766 1,481 444 1,391 1,052 Private creditors 50 1,110 805 393 482 423 524 60 1 42


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 1,469 1,295 834 511 289 158 88 33 13 4Principal 2,762 2,547 1,804 1,543 1,472 1,400 1,374 1,286 876 785Interest 661 608 525 461 403 347 293 241 195 164Official creditors Disbursements 1,257 1,195 799 506 288 158 88 33 13 4Principal 1,136 1,290 1,266 1,150 1,112 1,080 1,062 990 839 753Interest 506 485 447 405 360 315 270 227 189 159 Bilateral creditors Disbursements 546 542 347 211 112 57 30 10 2 0 Principal 547 547 559 507 495 474 475 464 356 322 Interest 227 214 197 176 157 138 119 101 84 73 Multilateral creditors Disbursements 712 653 452 295 176 100 57 23 11 4 Principal 589 743 708 643 617 606 586 526 482 431 Interest 279 271 250 229 203 177 151 126 105 86Private creditors Disbursements 212 100 34 5 0 0 0 0 0 0Principal 1,627 1,257 537 392 360 320 312 296 38 32Interest 155 123 77 56 43 32 23 14 6 5 Commercial banks Disbursements 126 52 18 0 0 0 0 0 0 0 Principal 1,188 832 137 83 65 57 47 37 29 27 Interest 66 51 22 16 13 10 8 6 4 3 Other private Disbursements 86 48 17 5 0 0 0 0 0 0 Principal 438 425 401 309 295 263 265 259 8 5 Interest 89 72 55 40 30 22 15 8 2 2

368MOZAMBIQUE


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 4,650 7,566 7,632 8,289 6,965 7,038 4,449 4,609Long-term debt (LDOD) .. .. 4,231 7,203 7,123 7,717 6,379 6,254 3,757 4,039Public and publicly guaranteed .. .. 4,211 5,358 5,211 5,960 4,632 4,537 2,207 2,526Private nonguaranteed .. .. 19 1,845 1,912 1,757 1,747 1,717 1,550 1,513Use of IMF credit .. .. 74 181 189 207 200 219 196 200Short-term debt .. .. 345 182 320 365 387 564 497 371of which interest arrears on LDOD .. .. 207 164 202 249 158 399 225 244 Official creditors .. .. 76 162 200 247 156 390 216 243 Private creditors .. .. 131 2 2 2 2 9 9 1Memo: principal arrears on LDOD .. .. 725 1,117 1,177 1,184 221 521 189 191 Official creditors .. .. 373 1,114 1,174 1,181 219 508 186 189 Private creditors .. .. 352 3 3 3 2 13 2 2Memo: export credits .. .. 986 999 1,492 1,056 1,162 921 871 417

TOTAL DEBT FLOWS Disbursements .. .. 242 300 300 258 158 184 145 262Long-term debt .. .. 230 282 265 224 130 124 134 251IMF purchases .. .. 12 18 35 34 29 60 11 11Principal repayments .. .. 41 92 64 64 57 57 71 53Long-term debt .. .. 41 59 49 39 40 57 71 48IMF repurchases .. .. 0 33 15 25 17 0 0 5Net flows on debt .. .. 173 197 335 192 214 63 181 64of which short-term debt .. .. -28 -11 100 -2 113 -64 107 -146Interest payments (INT) .. .. 38 49 45 40 48 31 18 23Long-term debt .. .. 23 46 41 36 40 19 8 14IMF charges .. .. 0 1 1 0 2 1 1 1Short-term debt .. .. 15 1 3 3 6 11 10 8Net transfers on debt .. .. 136 148 290 152 167 32 163 41Total debt service paid (TDS) .. .. 79 141 110 104 105 88 89 76Long-term debt .. .. 64 106 91 75 80 76 78 62IMF repurchases and charges .. .. 0 34 16 25 19 1 1 6Short-term debt (interest only) .. .. 15 1 3 3 6 11 10 8


NET RESOURCE FLOWS .. .. 948 736 798 1,072 1,097 932 974 2,273Net flow of long-term debt (ex. IMF) .. .. 189 222 216 185 90 68 63 204Foreign direct investment (net) .. .. 9 73 64 213 382 139 255 406Portfolio equity flows .. .. 0 0 0 0 0 0 0 0Grants (excluding technical coop.) .. .. 750 441 518 674 626 725 656 1,663Memo: technical coop. grants .. .. 92 190 162 150 156 174 166 201 official net resource flows .. .. 913 669 732 863 726 824 749 1,892 private net resource flows .. .. 35 66 66 209 371 109 225 381

NET TRANSFERS .. .. 925 679 746 1,024 1,051 913 947 2,256Interest on long-term debt .. .. 23 46 41 36 40 19 8 14Profit remittances on FDI .. .. 0 10 11 12 6 0 20 3Memo: official net transfers .. .. 897 624 692 835 694 805 741 1,878 private net transfers .. .. 29 55 54 189 358 108 205 378


Gross national income (GNI) .. .. 2,320 2,673 3,218 3,663 3,777 3,453 3,130 3,408Exports of goods, serv. & inc. (XGS) .. .. 300 540 572 577 637 769 1,073 1,271Worker remit. & comp. of employees .. .. 70 61 64 46 38 37 42 42Imports of goods & services (MGS) .. .. 1,164 1,186 1,181 1,320 1,711 1,763 1,906 1,990International reserves (RES) .. .. 233 344 537 628 669 744 729 841Current account balance .. .. -415 -421 -296 -429 -912 -764 -657 ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. 1,550.9 1,400.3 1,333.5 1,436.4 1,093.8 915.5 414.8 362.8EDT / GNI (%) .. .. 200.4 283.1 237.2 226.3 184.4 203.8 142.1 135.2TDS / XGS (%) .. .. 26.2 26.0 19.2 17.9 16.4 11.4 8.3 6.0INT / XGS (%) .. .. 12.6 9.0 7.9 6.9 7.5 4.1 1.7 1.8INT / GNI (%) .. .. 1.6 1.8 1.4 1.1 1.3 0.9 0.6 0.7RES / EDT (%) .. .. 5.0 4.5 7.0 7.6 9.6 10.6 16.4 18.3RES / MGS (months) .. .. 2.4 3.5 5.5 5.7 4.7 5.1 4.6 5.1Short-term / EDT (%) .. .. 7.4 2.4 4.2 4.4 5.6 8.0 11.2 8.0Concessional / EDT (%) .. .. 44.8 42.3 41.7 48.9 50.5 49.5 46.4 51.6Multilateral / EDT (%) .. .. 10.0 19.6 21.2 22.8 15.3 15.8 26.4 32.4

369MOZAMBIQUE


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 4,231 7,203 7,123 7,717 6,379 6,254 3,757 4,039Public and publicly guaranteed .. .. 4,211 5,358 5,211 5,960 4,632 4,537 2,207 2,526Official creditors .. .. 3,560 5,330 5,193 5,948 4,620 4,526 2,204 2,523 Multilateral .. .. 464 1,482 1,618 1,887 1,066 1,112 1,175 1,494 Concessional .. .. 405 1,401 1,533 1,803 1,013 1,074 1,136 1,453 Bilateral .. .. 3,097 3,848 3,575 4,060 3,554 3,414 1,029 1,029 Concessional .. .. 1,677 1,803 1,651 2,251 2,502 2,408 927 923Private creditors .. .. 651 27 18 13 12 11 3 3 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 147 2 2 1 1 0 0 0 Other private .. .. 504 25 17 12 11 11 3 3Private nonguaranteed .. .. 19 1,845 1,912 1,757 1,747 1,717 1,550 1,513 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 19 1,845 1,912 1,757 1,747 1,717 1,550 1,513Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 268 1,076 1,160 1,335 702 760 777 985

DISBURSEMENTS .. .. 230 282 265 224 130 124 134 251Public and publicly guaranteed .. .. 210 282 259 224 130 124 134 251Official creditors .. .. 186 282 259 224 130 124 134 251 Multilateral .. .. 95 275 244 219 119 122 124 240 Concessional .. .. 89 265 224 216 118 120 118 238 Bilateral .. .. 91 7 15 4 11 3 10 11 Concessional .. .. 91 7 15 4 10 3 3 7Private creditors .. .. 24 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 0 0 0 0 0 0 0 Other private .. .. 24 0 0 0 0 0 0 0Private nonguaranteed .. .. 20 0 6 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 20 0 6 0 0 0 0 0Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 74 221 148 131 79 97 52 149

PRINCIPAL REPAYMENTS .. .. 41 59 49 39 40 57 71 48Public and publicly guaranteed .. .. 29 55 45 35 30 27 41 23Official creditors .. .. 23 53 44 35 29 26 41 23 Multilateral .. .. 9 17 16 19 13 11 29 11 Concessional .. .. 4 11 9 11 7 8 19 8 Bilateral .. .. 13 36 28 16 16 15 12 11 Concessional .. .. 5 18 24 13 14 15 12 10Private creditors .. .. 7 1 1 0 0 1 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 3 0 0 0 0 1 0 0 Other private .. .. 3 1 1 0 0 0 0 0Private nonguaranteed .. .. 12 5 4 4 10 30 30 25 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 12 5 4 4 10 30 30 25Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 1 2 3 1 2 3 2

NET FLOWS ON DEBT .. .. 189 222 216 185 90 68 63 204Public and publicly guaranteed .. .. 181 227 214 189 100 98 93 229Official creditors .. .. 164 228 215 189 100 99 93 229 Multilateral .. .. 86 258 227 200 106 111 95 229 Concessional .. .. 85 255 216 205 111 111 99 230 Bilateral .. .. 77 -29 -13 -12 -6 -12 -2 0 Concessional .. .. 85 -11 -9 -9 -4 -12 -9 -4Private creditors .. .. 17 -1 -1 0 0 -1 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. -3 0 0 0 0 -1 0 0 Other private .. .. 21 -1 -1 0 0 0 0 0Private nonguaranteed .. .. 8 -5 2 -4 -10 -30 -30 -25 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 8 -5 2 -4 -10 -30 -30 -25Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 74 220 147 128 78 96 49 147

370MOZAMBIQUE



NET TRANSFERS ON DEBT .. .. 166 176 175 149 50 49 55 190Public and publicly guaranteed .. .. 158 182 173 161 67 79 85 215Official creditors .. .. 147 183 174 161 68 80 85 215 Multilateral .. .. 80 243 212 184 94 103 90 218 Concessional .. .. 82 245 205 193 99 105 93 220 Bilateral .. .. 67 -60 -38 -23 -26 -24 -4 -3 Concessional .. .. 79 -26 -25 -19 -25 -21 -10 -6Private creditors .. .. 11 -1 -1 0 -1 -1 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. -5 0 0 0 -1 -1 0 0 Other private .. .. 16 -1 -1 0 0 0 0 0Private nonguaranteed .. .. 8 -6 1 -12 -18 -30 -30 -25 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 8 -6 1 -12 -18 -30 -30 -25Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 73 214 139 119 67 92 44 142

DEBT SERVICE (LTDS) .. .. 64 106 91 75 80 76 78 62Public and publicly guaranteed .. .. 52 100 86 63 62 46 48 37Official creditors .. .. 39 99 85 63 62 45 48 37 Multilateral .. .. 16 32 32 36 25 18 35 23 Concessional .. .. 7 21 20 23 19 15 25 18 Bilateral .. .. 23 66 53 27 37 27 14 14 Concessional .. .. 11 33 40 23 35 24 14 13Private creditors .. .. 12 1 1 0 1 1 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 5 0 0 0 1 1 0 0 Other private .. .. 8 1 1 0 0 0 0 0Private nonguaranteed .. .. 12 6 5 12 18 30 30 25 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 12 6 5 12 18 30 30 25Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 1 7 9 12 12 6 7 6

UNDISBURSED DEBT .. .. 835 944 892 716 873 926 1,057 1,130Official creditors .. .. 822 944 892 716 873 926 1,057 1,130Private creditors .. .. 13 0 0 0 0 0 0 0Memorandum items Concessional LDOD .. .. 2,083 3,204 3,185 4,055 3,515 3,482 2,063 2,377 Variable rate LDOD .. .. 290 2,324 2,352 2,156 2,122 2,089 1,564 1,530 Public sector LDOD .. .. 4,211 5,358 5,211 5,960 4,632 4,537 2,207 2,526 Private sector LDOD .. .. 19 1,845 1,912 1,757 1,747 1,717 1,550 1,513



371MOZAMBIQUE



Total amount rescheduled .. .. 386 190 132 596 669 0 290 0 Debt stock rescheduled .. .. 0 0 0 3 0 0 264 0 Principal rescheduled .. .. 225 82 50 142 386 1 2 0 Official .. .. 133 73 48 141 386 1 2 0 Private .. .. 92 9 2 0 0 0 0 0 Interest rescheduled .. .. 118 105 64 84 83 0 3 0 Official .. .. 83 103 63 84 83 0 3 0 Private .. .. 35 2 1 0 0 0 0 0Debt forgiven .. .. 210 64 215 21 41 7 27 27 Memo: interest forgiven .. .. 14 67 8 0 1 2 294 2Debt stock reduction .. .. 950 0 0 7 819 36 2,350 4 of which debt buyback .. .. 0 0 0 0 325 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 287 107 66 657 -1,324 72 -2,588 160 Net flows on debt .. .. 173 197 335 192 214 63 181 64 Net change in interest arrears .. .. -62 -86 38 47 -91 241 -174 20 Interest capitalized .. .. 118 105 64 84 83 0 3 0 Debt forgiveness or reduction .. .. -1,160 -64 -215 -28 -535 -43 -2,376 -31 Cross-currency valuation .. .. 176 -121 -322 -13 -947 -262 -91 107 Residual .. .. 1,041 77 166 375 -49 72 -131 0



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


372MYANMAR


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 123 1,500 4,695 5,184 5,503 5,647 6,004 5,928 5,670 6,556Long-term debt (LDOD) 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391Public and publicly guaranteed 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 16 106 0 0 0 0 0 0 0 0Short-term debt 0 4 229 381 434 594 666 686 664 1,165of which interest arrears on LDOD 0 0 200 366 390 456 509 488 500 605 Official creditors 0 0 168 305 332 401 459 442 454 550 Private creditors 0 0 32 61 58 55 50 46 46 54Memo: principal arrears on LDOD 0 0 376 1,289 1,349 1,532 1,803 1,738 1,802 2,132 Official creditors 0 0 291 1,042 1,113 1,290 1,562 1,516 1,583 1,888 Private creditors 0 0 85 247 236 241 241 222 218 245Memo: export credits 0 0 282 538 747 376 344 232 219 272

TOTAL DEBT FLOWS Disbursements 22 282 122 144 615 214 64 15 9 5Long-term debt 22 269 122 144 615 214 64 15 9 5IMF purchases 0 13 0 0 0 0 0 0 0 0Principal repayments 20 89 46 140 101 79 64 71 70 94Long-term debt 20 66 44 140 101 79 64 71 70 94IMF repurchases 0 23 2 0 0 0 0 0 0 0Net flows on debt 1 171 91 -23 544 230 18 -16 -95 308of which short-term debt 0 -22 14 -27 29 94 19 41 -34 397Interest payments (INT) 3 52 14 18 15 14 32 16 13 19Long-term debt 3 45 13 18 13 9 24 4 5 8IMF charges 0 4 0 0 0 0 0 0 0 0Short-term debt 0 3 2 1 2 5 8 12 8 11Net transfers on debt -2 119 76 -41 529 216 -14 -31 -109 289Total debt service paid (TDS) 23 141 60 158 116 93 96 87 84 113Long-term debt 23 112 57 157 114 88 88 75 76 102IMF repurchases and charges 0 26 2 0 0 0 0 0 0 0Short-term debt (interest only) 0 3 2 1 2 5 8 12 8 11


NET RESOURCE FLOWS 16 269 278 430 978 520 284 247 213 110Net flow of long-term debt (ex. IMF) 1 202 78 4 514 135 -1 -56 -61 -89Foreign direct investment (net) 0 0 163 313 391 318 256 258 210 129Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 15 66 37 113 73 67 29 45 64 70Memo: technical coop. grants 6 31 34 35 32 35 39 51 56 60 official net resource flows 9 240 123 97 45 119 42 55 65 41 private net resource flows 6 29 155 333 933 401 242 192 147 69

NET TRANSFERS 13 224 118 287 751 376 225 107 -174 -248Interest on long-term debt 3 45 13 18 13 9 24 4 5 8Profit remittances on FDI 0 0 147 125 214 136 35 137 381 350Memo: official net transfers 7 219 113 83 35 116 22 55 63 35 private net transfers 5 5 5 205 716 260 203 51 -237 -283


Gross national income (GNI) .. .. .. .. .. .. .. .. .. ..Exports of goods, serv. & inc. (XGS) .. 499 328 1,512 1,665 1,859 1,955 2,252 2,863 ..Worker remit. & comp. of employees 0 0 6 124 149 137 136 104 117 117Imports of goods & services (MGS) .. 931 797 2,246 2,594 2,858 2,527 2,662 3,371 ..International reserves (RES) 98 409 410 315 317 382 333 286 464 549Current account balance .. -350 -436 -283 -416 -499 -285 -212 -309 ..

4. DEBT INDICATORS

EDT / XGS (%) .. 300.3 1,433.2 343.0 330.4 303.8 307.1 263.3 198.1 ..EDT / GNI (%) .. .. .. .. .. .. .. .. .. ..TDS / XGS (%) .. 28.3 18.4 10.5 7.0 5.0 4.9 3.9 2.9 ..INT / XGS (%) .. 10.5 4.4 1.2 0.9 0.8 1.6 0.7 0.5 ..INT / GNI (%) .. .. .. .. .. .. .. .. .. ..RES / EDT (%) 80.2 27.2 8.7 6.1 5.8 6.8 5.5 4.8 8.2 8.4RES / MGS (months) .. 5.3 6.2 1.7 1.5 1.6 1.6 1.3 1.7 ..Short-term / EDT (%) 0.0 0.3 4.9 7.3 7.9 10.5 11.1 11.6 11.7 17.8Concessional / EDT (%) 45.9 72.7 87.6 83.5 74.1 77.5 78.4 70.4 70.7 67.2Multilateral / EDT (%) 12.1 18.7 26.3 23.6 21.3 21.2 20.8 19.4 20.0 18.5

373MYANMAR


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391Public and publicly guaranteed 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391Official creditors 72 1,109 4,216 4,438 4,177 4,476 4,806 4,262 4,095 4,506 Multilateral 15 280 1,234 1,223 1,171 1,199 1,250 1,148 1,133 1,216 Concessional 0 274 1,228 1,222 1,170 1,199 1,250 1,148 1,133 1,216 Bilateral 57 829 2,982 3,215 3,006 3,277 3,555 3,114 2,962 3,290 Concessional 56 817 2,884 3,109 2,909 3,175 3,453 3,024 2,876 3,188Private creditors 34 281 250 366 892 577 531 980 911 884 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 51 0 0 440 38 4 546 546 546 Other private 34 231 250 366 452 539 527 434 365 338Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 15 0 0 0 0 0 0 0 0 0 IDA 0 146 716 742 724 727 723 684 693 729



NET FLOWS ON DEBT 1 202 78 4 514 135 -1 -56 -61 -89Public and publicly guaranteed 1 202 78 4 514 135 -1 -56 -61 -89Official creditors -5 173 86 -15 -28 52 13 10 2 -29 Multilateral -2 38 53 -27 -19 -2 -4 -1 0 -1 Concessional 0 38 54 -26 -18 -2 -4 -1 0 -1 Bilateral -3 135 33 12 -9 54 17 11 2 -28 Concessional -2 142 33 12 -9 55 18 11 2 -28Private creditors 6 29 -8 19 542 83 -13 -66 -63 -60 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 0 440 0 0 0 0 0 Other private 6 27 -8 19 102 83 -13 -66 -63 -60Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -2 0 0 0 0 0 0 0 0 0 IDA 0 23 53 -11 -7 0 0 0 0 0

374MYANMAR



NET TRANSFERS ON DEBT -2 157 65 -14 501 127 -24 -60 -67 -97Public and publicly guaranteed -2 157 65 -14 501 127 -24 -60 -67 -97Official creditors -7 152 76 -30 -38 49 -7 10 -1 -35 Multilateral -3 36 43 -39 -26 -3 -4 -1 0 -1 Concessional 0 36 44 -37 -25 -3 -4 -1 0 -1 Bilateral -4 117 33 9 -13 52 -2 11 0 -34 Concessional -3 125 33 11 -10 53 0 11 0 -34Private creditors 5 5 -10 16 539 78 -18 -70 -66 -62 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -6 0 0 440 0 0 0 0 0 Other private 5 11 -10 16 99 78 -18 -70 -66 -62Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD -3 0 0 0 0 0 0 0 0 0 IDA 0 22 48 -17 -11 0 0 0 0 0


UNDISBURSED DEBT 106 1,282 914 893 745 560 551 34 25 12Official creditors 74 1,072 890 674 615 507 528 32 23 12Private creditors 32 210 24 219 130 52 23 3 1 0Memorandum items Concessional LDOD 56 1,090 4,112 4,331 4,079 4,374 4,704 4,172 4,009 4,404 Variable rate LDOD 0 69 0 0 440 38 4 546 546 546 Public sector LDOD 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391 Private sector LDOD 0 0 0 0 0 0 0 0 0 0



375MYANMAR




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 504 -586 319 144 357 -76 -258 886 Net flows on debt 1 171 91 -23 544 230 18 -16 -95 308 Net change in interest arrears .. .. 90 15 24 66 54 -21 11 105 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 306 -627 -296 216 301 -577 -173 468 Residual .. .. 18 49 47 -367 -16 538 0 5



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


376NEPAL


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 1 68 168 158 214 177 145 154 112 70Long-term debt 1 50 168 158 214 177 145 154 112 70IMF purchases 0 18 0 0 0 0 0 0 0 0Principal repayments 2 3 41 47 70 61 75 71 63 71Long-term debt 2 2 29 39 63 54 69 66 59 66IMF repurchases 0 1 12 8 7 7 6 4 4 4Net flows on debt -2 61 129 114 146 118 83 67 72 -15of which short-term debt 0 -5 2 3 3 2 13 -16 23 -14Interest payments (INT) 0 5 29 31 28 27 32 29 26 27Long-term debt 0 2 25 30 26 26 30 27 25 26IMF charges 0 1 2 0 0 0 0 0 0 0Short-term debt 0 2 2 1 1 2 2 2 1 1Net transfers on debt -2 56 100 83 119 91 51 38 46 -42Total debt service paid (TDS) 2 8 70 78 98 88 107 100 89 98Long-term debt 2 4 54 69 89 80 99 93 84 93IMF repurchases and charges 0 1 14 8 7 7 6 4 4 4Short-term debt (interest only) 0 2 2 1 1 2 2 2 1 1


NET RESOURCE FLOWS 7 127 282 280 313 251 224 231 236 212Net flow of long-term debt (ex. IMF) -2 48 139 119 151 123 76 88 53 3Foreign direct investment (net) 0 0 0 19 23 12 0 0 0 10Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 9 79 143 142 140 117 148 143 183 199Memo: technical coop. grants 8 50 106 142 133 138 107 108 123 132 official net resource flows 7 127 296 264 307 252 237 239 236 203 private net resource flows 0 0 -14 16 6 -1 -13 -8 0 9

NET TRANSFERS 7 125 257 250 287 226 194 204 211 186Interest on long-term debt 0 2 25 30 26 26 30 27 25 26Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0Memo: official net transfers 7 125 282 239 285 230 209 213 211 177 private net transfers 0 0 -25 11 2 -4 -15 -9 0 9


Gross national income (GNI) 866 1,958 3,640 4,529 4,926 4,863 5,046 5,514 5,591 5,542Exports of goods, serv. & inc. (XGS) .. 272 447 1,223 1,361 1,160 1,407 1,466 1,351 1,061Worker remit. & comp. of employees 0 0 0 44 50 68 84 112 147 802Imports of goods & services (MGS) .. 419 845 1,770 1,945 1,462 1,735 1,825 1,759 1,513International reserves (RES) 94 272 354 628 671 800 889 987 1,080 1,070Current account balance .. -39 -289 -327 -388 -67 -79 -131 -165 ..

4. DEBT INDICATORS

EDT / XGS (%) .. 75.3 366.6 197.0 175.7 228.1 211.1 192.5 199.3 278.4EDT / GNI (%) 0.3 10.4 45.1 53.2 48.5 54.4 58.9 51.2 48.2 53.3TDS / XGS (%) .. 2.9 15.7 6.4 7.2 7.6 7.6 6.8 6.6 9.2INT / XGS (%) .. 1.9 6.5 2.6 2.0 2.4 2.3 2.0 2.0 2.6INT / GNI (%) 0.0 0.3 0.8 0.7 0.6 0.6 0.6 0.5 0.5 0.5RES / EDT (%) 3,366.8 133.0 21.6 26.0 28.1 30.2 29.9 35.0 40.1 36.2RES / MGS (months) .. 7.8 5.0 4.3 4.1 6.6 6.2 6.5 7.4 8.5Short-term / EDT (%) 0.0 3.4 1.5 1.1 1.2 1.2 1.4 0.9 1.9 1.2Concessional / EDT (%) 69.5 75.7 88.5 94.7 95.8 96.7 97.5 98.4 97.7 98.5Multilateral / EDT (%) 7.2 62.0 77.3 82.4 83.2 84.4 85.6 87.1 87.4 88.7

377NEPAL


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 3 156 1,572 2,346 2,332 2,591 2,910 2,783 2,635 2,913Public and publicly guaranteed 3 156 1,572 2,346 2,332 2,591 2,910 2,783 2,635 2,913Official creditors 2 156 1,461 2,285 2,291 2,561 2,897 2,778 2,630 2,907 Multilateral 0 127 1,268 1,986 1,989 2,233 2,541 2,457 2,354 2,619 Concessional 0 126 1,259 1,984 1,987 2,231 2,541 2,457 2,354 2,619 Bilateral 2 29 193 299 302 328 356 321 276 289 Concessional 2 28 193 299 302 328 356 321 276 289Private creditors 1 0 110 60 41 29 13 5 5 5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 1 0 110 60 41 29 13 5 5 5Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 76 667 1,049 1,047 1,131 1,147 1,132 1,122 1,210



NET FLOWS ON DEBT -2 48 139 119 151 123 76 88 53 3Public and publicly guaranteed -2 48 139 119 151 123 76 88 53 3Official creditors -2 48 153 123 168 135 89 96 53 4 Multilateral 0 34 136 120 131 141 87 105 65 19 Concessional 0 35 136 120 131 141 89 105 65 19 Bilateral -2 14 17 3 36 -5 1 -10 -11 -16 Concessional 0 14 17 3 36 -5 1 -10 -11 -16Private creditors 0 0 -14 -4 -17 -13 -13 -8 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 0 -14 -4 -17 -13 -13 -8 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 25 65 54 45 52 34 33 26 14

378NEPAL



NET TRANSFERS ON DEBT -2 46 114 89 124 97 46 61 28 -23Public and publicly guaranteed -2 46 114 89 124 97 46 61 28 -23Official creditors -2 46 139 97 146 113 61 69 28 -22 Multilateral 0 33 126 103 115 123 64 84 43 -3 Concessional 0 34 126 103 115 123 68 84 43 -3 Bilateral -2 13 13 -5 31 -10 -4 -14 -15 -20 Concessional 0 13 13 -5 31 -10 -4 -14 -15 -20Private creditors 0 0 -25 -8 -21 -16 -15 -9 0 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 0 -25 -8 -21 -16 -15 -9 0 -1Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 25 61 46 38 44 25 25 18 6


UNDISBURSED DEBT 26 366 1,318 878 779 672 570 404 508 511Official creditors 26 366 1,307 873 779 672 570 404 508 511Private creditors 0 0 10 5 0 0 0 0 0 0Memorandum items Concessional LDOD 2 155 1,452 2,283 2,289 2,559 2,897 2,778 2,630 2,907 Variable rate LDOD 0 0 0 0 0 0 0 0 0 0 Public sector LDOD 3 156 1,566 2,345 2,332 2,590 2,909 2,783 2,635 2,913 Private sector LDOD 0 0 5 0 0 0 0 0 0 0



379NEPAL




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 272 -7 -20 255 324 -148 -129 260 Net flows on debt -2 61 129 114 146 118 83 67 72 -15 Net change in interest arrears .. .. 1 0 0 0 -1 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 -2 0 0 0 Cross-currency valuation .. .. 126 -135 -180 119 48 -188 -174 221 Residual .. .. 15 14 14 18 197 -28 -28 54



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


380NICARAGUA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 203 2,193 10,745 5,961 6,229 6,450 6,909 6,853 6,408 6,485Long-term debt (LDOD) 147 1,671 8,313 5,148 5,364 5,663 5,889 5,774 5,577 5,756Public and publicly guaranteed 147 1,671 8,313 5,148 5,364 5,636 5,779 5,492 5,437 5,576Private nonguaranteed 0 0 0 0 0 28 110 281 140 181Use of IMF credit 8 49 0 29 27 52 155 169 158 174Short-term debt 48 472 2,432 784 837 735 865 911 674 554of which interest arrears on LDOD 0 12 1,693 481 573 687 745 789 535 420 Official creditors 0 5 1,067 475 561 672 733 776 521 407 Private creditors 0 8 626 6 12 15 12 13 14 13Memo: principal arrears on LDOD 0 32 2,464 989 917 1,378 1,447 1,035 964 801 Official creditors 0 13 1,491 719 695 1,158 1,226 820 747 588 Private creditors 0 19 973 271 222 220 220 216 217 213Memo: export credits 0 0 643 801 698 617 569 578 650 914

TOTAL DEBT FLOWS Disbursements 54 276 577 226 610 280 509 527 308 296Long-term debt 44 276 577 226 610 258 402 500 308 287IMF purchases 10 0 0 0 0 23 107 27 0 9Principal repayments 29 46 4 134 182 86 99 189 263 104Long-term debt 16 45 4 124 182 86 96 183 258 100IMF repurchases 13 1 0 9 0 0 3 5 5 4Net flows on debt 24 345 593 85 390 -22 482 341 62 188of which short-term debt 0 115 21 -7 -38 -217 71 3 17 -4Interest payments (INT) 7 69 11 85 144 169 87 98 73 48Long-term debt 7 42 5 72 129 91 82 90 68 43IMF charges 0 3 0 0 0 0 1 1 1 1Short-term debt 0 25 6 13 15 78 5 7 5 4Net transfers on debt 18 276 582 0 246 -191 394 243 -11 140Total debt service paid (TDS) 36 115 16 219 326 255 186 286 337 151Long-term debt 23 86 9 196 311 176 178 274 326 142IMF repurchases and charges 13 3 0 10 0 0 3 6 6 5Short-term debt (interest only) 0 25 6 13 15 78 5 7 5 4


NET RESOURCE FLOWS 43 279 813 840 849 746 969 838 838 579Net flow of long-term debt (ex. IMF) 28 231 572 101 428 172 306 317 50 187Foreign direct investment (net) 15 0 0 120 203 218 337 267 150 174Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 0 48 241 619 218 356 326 255 637 218Memo: technical coop. grants 4 19 73 119 111 95 94 116 140 112 official net resource flows 28 305 793 724 662 540 550 406 807 373 private net resource flows 14 -26 20 116 187 206 419 432 31 206

NET TRANSFERS 36 217 808 723 667 597 825 678 693 467Interest on long-term debt 7 42 5 72 129 91 82 90 68 43Profit remittances on FDI 0 21 0 45 53 58 62 69 77 69Memo: official net transfers 25 268 789 656 539 453 474 331 755 336 private net transfers 11 -51 19 67 128 144 350 347 -62 131


Gross national income (GNI) .. .. .. 2,996 3,133 3,319 3,487 3,656 3,703 3,811Exports of goods, serv. & inc. (XGS) .. 514 404 749 962 1,057 1,170 1,304 1,283 1,294Worker remit. & comp. of employees 0 0 0 95 150 200 300 320 336 377Imports of goods & services (MGS) .. 1,049 911 1,632 1,890 1,876 2,260 2,229 2,229 2,182International reserves (RES) 49 75 166 203 382 355 514 492 384 453Current account balance .. -411 -305 -883 -928 -819 -1,090 -925 -946 -888

4. DEBT INDICATORS

EDT / XGS (%) .. 426.6 2,659.6 796.0 647.5 610.2 590.5 525.4 499.6 501.3EDT / GNI (%) .. .. .. 199.0 198.8 194.3 198.1 187.5 173.1 170.2TDS / XGS (%) .. 22.3 3.9 29.2 33.9 24.1 15.9 22.0 26.2 11.7INT / XGS (%) .. 13.4 2.8 11.4 14.9 16.0 7.5 7.5 5.7 3.7INT / GNI (%) .. .. .. 2.8 4.6 5.1 2.5 2.7 2.0 1.2RES / EDT (%) 24.3 3.4 1.5 3.4 6.1 5.5 7.4 7.2 6.0 7.0RES / MGS (months) .. 0.9 2.2 1.5 2.4 2.3 2.7 2.7 2.1 2.5Short-term / EDT (%) 23.7 21.5 22.6 13.2 13.4 11.4 12.5 13.3 10.5 8.5Concessional / EDT (%) 29.2 21.5 30.6 36.9 40.9 43.1 42.5 45.2 51.2 54.4Multilateral / EDT (%) 23.7 19.3 8.8 26.1 33.4 35.5 35.7 30.9 34.3 37.4

381NICARAGUA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 147 1,671 8,313 5,148 5,364 5,663 5,889 5,774 5,577 5,756Public and publicly guaranteed 147 1,671 8,313 5,148 5,364 5,636 5,779 5,492 5,437 5,576Official creditors 102 866 6,767 4,691 4,968 5,251 5,405 5,138 5,093 5,230 Multilateral 48 424 940 1,557 2,080 2,288 2,467 2,119 2,200 2,424 Concessional 11 200 355 858 1,308 1,480 1,673 1,778 1,890 2,125 Bilateral 53 442 5,827 3,133 2,888 2,963 2,938 3,019 2,893 2,805 Concessional 49 271 2,929 1,341 1,241 1,301 1,265 1,319 1,392 1,406Private creditors 45 805 1,545 458 396 385 374 354 344 346 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 38 746 1,305 409 362 355 344 326 321 324 Other private 8 59 240 48 34 30 30 29 23 22Private nonguaranteed 0 0 0 0 0 28 110 281 140 181 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 28 110 281 140 181Memo: IBRD 27 93 239 44 24 15 9 5 0 0 IDA 3 42 60 335 368 487 598 654 691 811



NET FLOWS ON DEBT 28 231 572 101 428 172 306 317 50 187Public and publicly guaranteed 28 231 572 101 428 172 225 146 167 160Official creditors 28 257 552 105 444 185 224 152 170 155 Multilateral 9 76 6 99 475 182 180 135 154 192 Concessional 4 71 0 97 105 201 193 152 173 196 Bilateral 20 181 546 6 -31 3 44 17 15 -37 Concessional 18 106 370 52 25 23 61 26 11 -12Private creditors -1 -26 20 -4 -16 -13 1 -6 -3 5 Bonds 0 0 0 -8 0 0 0 0 0 0 Commercial banks 1 -20 0 9 -4 -8 -4 -5 -2 5 Other private -2 -6 20 -4 -12 -5 5 -1 0 1Private nonguaranteed 0 0 0 0 0 0 81 171 -117 27 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 81 171 -117 27Memo: IBRD 4 8 -1 -16 -17 -9 -6 -5 -5 0 IDA 0 19 0 67 49 104 119 86 62 72

382NICARAGUA



NET TRANSFERS ON DEBT 21 190 567 30 299 81 224 226 -17 144Public and publicly guaranteed 21 190 567 30 299 81 148 67 112 122Official creditors 25 220 548 38 321 97 149 76 117 118 Multilateral 7 47 5 54 420 132 123 71 124 176 Concessional 4 64 0 86 94 174 164 114 159 186 Bilateral 19 173 543 -16 -99 -35 26 5 -7 -58 Concessional 18 103 370 42 -2 14 54 19 -3 -28Private creditors -4 -30 19 -8 -22 -16 0 -9 -5 4 Bonds 0 0 0 -8 0 0 0 0 0 0 Commercial banks -2 -20 0 5 -9 -11 -5 -8 -5 3 Other private -2 -10 19 -5 -13 -5 5 -1 0 1Private nonguaranteed 0 0 0 0 0 0 76 159 -129 22 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 76 159 -129 22Memo: IBRD 3 -3 -2 -22 -20 -11 -11 -6 -5 0 IDA 0 19 0 65 47 101 115 81 59 70


UNDISBURSED DEBT 62 449 573 649 408 750 665 620 782 847Official creditors 52 418 562 637 398 742 655 599 766 838Private creditors 9 30 11 12 10 8 10 21 16 10Memorandum items Concessional LDOD 59 470 3,285 2,199 2,549 2,781 2,938 3,096 3,282 3,531 Variable rate LDOD 0 796 1,829 1,332 1,678 1,727 1,825 1,574 1,358 1,370 Public sector LDOD 138 1,656 8,313 5,139 5,356 5,632 5,776 5,547 5,512 5,683 Private sector LDOD 9 15 0 10 9 31 113 226 65 74



383NICARAGUA



Total amount rescheduled .. .. 30 858 466 126 138 149 190 78 Debt stock rescheduled .. .. 0 668 367 44 0 0 142 0 Principal rescheduled .. .. 0 304 36 45 41 94 20 42 Official .. .. 0 255 36 42 32 82 18 42 Private .. .. 0 49 0 3 9 12 2 1 Interest rescheduled .. .. 30 203 3 37 51 62 29 36 Official .. .. 30 193 3 36 46 58 28 35 Private .. .. 0 10 0 1 4 3 1 1Debt forgiven .. .. 0 23 182 39 43 28 79 289 Memo: interest forgiven .. .. 0 923 2 10 8 7 346 172Debt stock reduction .. .. 0 3,065 116 0 36 0 87 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,060 -4,428 267 222 459 -56 -445 77 Net flows on debt 24 345 593 85 390 -22 482 341 62 188 Net change in interest arrears .. .. 346 -994 91 115 58 44 -254 -115 Interest capitalized .. .. 30 203 3 37 51 62 29 36 Debt forgiveness or reduction .. .. 0 -3,088 -297 -39 -79 -28 -167 -289 Cross-currency valuation .. .. 83 -218 -317 -64 -110 -119 -102 191 Residual .. .. 7 -416 398 195 56 -355 -13 67



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


384NIGER


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 12 290 148 56 111 111 62 87 89 140Long-term debt 12 281 139 42 84 85 62 76 78 118IMF purchases 0 9 9 14 27 26 0 11 11 22Principal repayments 2 57 63 44 49 50 20 16 20 19Long-term debt 2 57 47 33 34 36 14 14 20 16IMF repurchases 0 0 16 12 15 14 6 2 1 2Net flows on debt 11 286 123 14 98 33 45 64 54 118of which short-term debt 0 53 38 2 36 -28 4 -7 -14 -3Interest payments (INT) 1 84 36 12 15 12 11 9 8 9Long-term debt 1 65 23 10 13 10 10 8 7 9IMF charges 0 0 3 1 1 1 0 0 0 0Short-term debt 0 19 9 1 2 1 1 1 1 0Net transfers on debt 10 202 87 2 83 21 34 55 46 109Total debt service paid (TDS) 2 141 99 56 64 62 31 25 28 28Long-term debt 2 122 71 43 46 47 24 22 27 25IMF repurchases and charges 0 0 19 13 16 15 6 2 1 3Short-term debt (interest only) 0 19 9 1 2 1 1 1 1 0


NET RESOURCE FLOWS 26 324 358 185 265 216 170 183 214 238Net flow of long-term debt (ex. IMF) 11 223 91 10 51 49 48 62 58 102Foreign direct investment (net) 1 49 41 20 25 9 0 9 23 8Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 15 51 226 155 190 158 122 112 133 128Memo: technical coop. grants 11 62 101 88 72 72 55 48 51 53 official net resource flows 26 125 308 189 255 230 172 176 198 238 private net resource flows 0 199 51 -4 11 -15 -2 7 16 0

NET TRANSFERS 25 248 312 171 248 196 148 165 199 213Interest on long-term debt 1 65 23 10 13 10 10 8 7 9Profit remittances on FDI 0 11 23 4 5 9 12 10 8 16Memo: official net transfers 25 118 301 183 245 221 162 168 192 231 private net transfers 0 130 12 -12 3 -25 -14 -4 7 -17


Gross national income (GNI) 645 2,476 2,423 1,959 1,817 2,053 1,999 1,782 1,930 2,157Exports of goods, serv. & inc. (XGS) .. 650 566 .. .. .. .. .. .. ..Worker remit. & comp. of employees 0 11 14 8 8 8 8 8 8 8Imports of goods & services (MGS) .. 1,016 803 .. .. .. .. .. .. ..International reserves (RES) 19 132 226 78 53 53 39 80 107 134Current account balance .. -276 -236 .. .. .. .. .. .. ..

4. DEBT INDICATORS


385NIGER


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 32 687 1,487 1,425 1,404 1,509 1,521 1,527 1,470 1,658Public and publicly guaranteed 32 383 1,226 1,315 1,308 1,437 1,451 1,459 1,408 1,604Official creditors 31 255 1,115 1,315 1,308 1,437 1,451 1,459 1,408 1,604 Multilateral 4 143 701 874 880 965 998 1,019 1,029 1,217 Concessional 4 112 653 834 844 928 971 988 1,010 1,202 Bilateral 27 112 413 441 428 472 453 440 379 387 Concessional 25 42 178 187 195 225 236 229 216 238Private creditors 0 128 111 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 68 109 0 0 0 0 0 0 0 Other private 0 60 2 0 0 0 0 0 0 0Private nonguaranteed 0 305 261 110 96 72 70 68 62 54 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 305 261 110 96 72 70 68 62 54Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 4 66 461 609 625 687 694 723 753 867



NET FLOWS ON DEBT 11 223 91 10 51 49 48 62 58 102Public and publicly guaranteed 11 144 85 33 64 73 50 64 65 110Official creditors 11 74 82 33 64 73 50 64 65 110 Multilateral 2 46 63 27 56 58 42 66 62 108 Concessional 2 33 66 28 57 58 43 61 67 109 Bilateral 9 28 19 6 8 14 7 -2 3 2 Concessional 9 9 19 6 10 15 8 -1 4 2Private creditors -1 71 4 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 55 5 0 0 0 0 0 0 0 Other private -1 16 -2 0 0 0 0 0 0 0Private nonguaranteed 0 79 6 -24 -14 -24 -2 -2 -6 -8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 79 6 -24 -14 -24 -2 -2 -6 -8Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 2 18 53 29 45 43 19 60 62 68

386NIGER



NET TRANSFERS ON DEBT 10 158 68 -1 38 38 38 54 51 94Public and publicly guaranteed 10 128 78 28 55 64 40 56 59 103Official creditors 11 66 75 28 55 64 40 56 59 103 Multilateral 2 43 57 23 49 52 36 59 56 101 Concessional 2 32 62 23 50 52 38 54 62 102 Bilateral 8 23 17 5 6 11 4 -3 3 2 Concessional 8 9 18 6 9 13 7 -1 3 2Private creditors -1 62 4 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 48 5 0 0 0 0 0 0 0 Other private -1 14 -2 0 0 0 0 0 0 0Private nonguaranteed 0 30 -10 -28 -17 -25 -2 -2 -8 -9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 30 -10 -28 -17 -25 -2 -2 -8 -9Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 2 18 51 24 41 38 15 54 57 64


UNDISBURSED DEBT 41 415 368 333 312 415 288 262 358 315Official creditors 24 279 368 333 312 415 288 262 358 315Private creditors 17 136 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD 29 154 830 1,021 1,039 1,153 1,207 1,217 1,225 1,440 Variable rate LDOD 0 387 377 124 113 91 88 85 74 68 Public sector LDOD 24 372 1,223 1,315 1,308 1,437 1,451 1,459 1,408 1,604 Private sector LDOD 7 315 264 110 96 72 70 68 62 54



387NIGER




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 230 -50 34 94 17 19 -97 208 Net flows on debt 11 286 123 14 98 33 45 64 54 118 Net change in interest arrears .. .. 8 -29 11 2 9 14 -33 -2 Interest capitalized .. .. 16 29 9 8 1 1 18 20 Debt forgiveness or reduction .. .. 0 -26 -4 -7 -7 0 -70 -22 Cross-currency valuation .. .. 36 -115 -153 -61 -87 -62 -49 99 Residual .. .. 46 79 73 119 55 2 -17 -5



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


388NIGERIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 837 8,921 33,439 31,407 28,455 30,294 29,128 31,355 31,042 30,476Long-term debt (LDOD) 567 5,368 31,935 25,730 22,926 23,730 22,608 30,235 29,399 28,206Public and publicly guaranteed 452 4,271 31,545 25,430 22,631 23,445 22,358 30,020 29,218 28,057Private nonguaranteed 115 1,097 391 300 295 285 250 215 181 149Use of IMF credit 0 0 0 0 0 0 0 0 0 0Short-term debt 270 3,553 1,504 5,676 5,529 6,564 6,520 1,120 1,643 2,270of which interest arrears on LDOD 1 0 1,040 4,967 4,957 5,774 5,684 44 415 1,475 Official creditors 0 0 465 4,468 4,483 5,224 5,110 43 415 1,475 Private creditors 0 0 575 499 474 550 575 0 0 0Memo: principal arrears on LDOD 2 0 1,091 9,298 10,151 12,103 12,903 117 116 957 Official creditors 0 0 194 7,736 8,648 10,260 10,809 114 113 953 Private creditors 1 0 897 1,562 1,503 1,843 2,094 3 3 3Memo: export credits 0 0 20,116 13,725 17,135 12,573 13,831 12,279 12,052 13,398

TOTAL DEBT FLOWS Disbursements 81 1,753 927 308 314 276 175 153 67 81Long-term debt 81 1,753 927 308 314 276 175 153 67 81IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments 68 242 1,180 1,418 840 773 605 1,091 1,715 1,148Long-term debt 68 242 1,180 1,418 840 773 605 1,091 1,715 1,148IMF repurchases 0 0 0 0 0 0 0 0 0 0Net flows on debt 13 2,780 -34 -1,334 -663 -279 -385 -696 -1,497 -1,501of which short-term debt 0 1,270 219 -224 -137 218 45 241 151 -433Interest payments (INT) 28 909 2,155 1,091 576 559 458 754 828 342Long-term debt 28 529 2,123 1,043 543 521 418 690 804 324IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt 0 379 32 48 33 38 41 64 24 18Net transfers on debt -14 1,872 -2,190 -2,425 -1,239 -838 -843 -1,451 -2,325 -1,842Total debt service paid (TDS) 96 1,151 3,336 2,509 1,416 1,332 1,063 1,845 2,543 1,490Long-term debt 96 771 3,304 2,461 1,383 1,294 1,023 1,781 2,519 1,472IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0Short-term debt (interest only) 0 379 32 48 33 38 41 64 24 18


NET RESOURCE FLOWS 259 774 459 508 1,041 587 622 42 -454 318Net flow of long-term debt (ex. IMF) 13 1,510 -253 -1,110 -525 -497 -430 -937 -1,648 -1,068Foreign direct investment (net) 205 -739 588 1,594 1,539 1,051 1,005 930 1,104 1,281Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 40 3 125 24 27 33 48 49 90 104Memo: technical coop. grants 36 48 94 84 83 51 43 80 105 157 official net resource flows 70 79 -8 -396 -240 -439 -236 -711 -1,374 -321 private net resource flows 189 695 467 903 1,282 1,027 859 754 920 639

NET TRANSFERS 231 -1,348 -1,799 -2,133 -980 -1,360 -1,416 -2,548 -2,795 -1,806Interest on long-term debt 28 529 2,123 1,043 543 521 418 690 804 324Profit remittances on FDI 0 1,593 135 1,598 1,477 1,427 1,621 1,900 1,537 1,800Memo: official net transfers 54 16 -1,308 -911 -606 -815 -481 -1,227 -2,005 -481 private net transfers 177 -1,365 -491 -1,223 -374 -546 -935 -1,321 -790 -1,325


Gross national income (GNI) 12,081 61,079 25,585 33,068 33,993 29,317 33,300 38,378 38,922 39,712Exports of goods, serv. & inc. (XGS) .. 27,772 14,771 17,911 18,172 11,762 15,396 25,582 21,923 18,702Worker remit. & comp. of employees 0 22 10 947 1,920 1,574 1,301 1,301 1,301 1,301Imports of goods & services (MGS) .. 22,005 9,858 14,403 17,617 16,001 14,881 16,493 16,306 17,866International reserves (RES) 223 10,640 4,129 4,329 7,781 7,299 5,650 10,099 10,647 7,567Current account balance .. 5,178 4,988 3,507 552 -4,244 506 9,144 5,748 1,001

4. DEBT INDICATORS


389NIGERIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 567 5,368 31,935 25,730 22,926 23,730 22,608 30,235 29,399 28,206Public and publicly guaranteed 452 4,271 31,545 25,430 22,631 23,445 22,358 30,020 29,218 28,057Official creditors 358 992 17,007 18,644 17,011 17,669 16,650 26,574 25,933 25,538 Multilateral 182 571 3,732 4,493 4,013 4,083 3,768 3,302 2,881 2,891 Concessional 17 37 36 425 496 663 727 755 738 831 Bilateral 175 422 13,275 14,151 12,998 13,586 12,882 23,272 23,053 22,646 Concessional 114 401 485 929 826 919 997 702 601 640Private creditors 94 3,279 14,537 6,786 5,620 5,776 5,708 3,446 3,285 2,519 Bonds 10 0 0 2,051 2,051 2,051 2,051 2,051 2,051 1,441 Commercial banks 18 2,633 5,714 0 0 0 0 0 0 0 Other private 66 645 8,823 4,735 3,569 3,725 3,657 1,395 1,234 1,078Private nonguaranteed 115 1,097 391 300 295 285 250 215 181 149 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 115 1,097 391 300 295 285 250 215 181 149Memo: IBRD 165 517 3,284 2,762 2,373 2,278 1,989 1,625 1,337 1,275 IDA 17 37 36 348 410 564 624 644 621 676

DISBURSEMENTS 81 1,753 927 308 314 276 175 153 67 81Public and publicly guaranteed 56 1,187 927 308 314 276 175 153 67 81Official creditors 45 122 642 308 314 276 175 153 67 81 Multilateral 14 73 542 308 314 276 175 153 67 81 Concessional 1 0 7 94 97 145 81 68 19 46 Bilateral 31 49 100 0 0 0 0 0 0 0 Concessional 30 49 100 0 0 0 0 0 0 0Private creditors 11 1,065 285 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 3 492 0 0 0 0 0 0 0 0 Other private 8 573 285 0 0 0 0 0 0 0Private nonguaranteed 25 565 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 25 565 0 0 0 0 0 0 0 0Memo: IBRD 13 63 384 139 177 86 44 31 18 1 IDA 1 0 7 90 83 135 75 55 9 19

PRINCIPAL REPAYMENTS 68 242 1,180 1,418 840 773 605 1,091 1,715 1,148Public and publicly guaranteed 38 65 1,165 1,408 830 763 570 1,056 1,680 1,116Official creditors 16 45 774 728 582 749 459 914 1,530 506 Multilateral 5 25 246 447 467 419 450 404 324 305 Concessional 0 0 1 1 1 1 3 5 8 12 Bilateral 11 20 528 280 115 329 9 510 1,206 202 Concessional 5 14 5 0 70 319 0 0 9 26Private creditors 22 20 391 680 248 15 111 142 150 610 Bonds 0 0 0 0 0 0 0 0 0 452 Commercial banks 0 1 388 0 0 0 0 0 0 0 Other private 22 19 3 680 248 15 111 142 150 158Private nonguaranteed 30 177 15 10 10 10 35 35 34 32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 30 177 15 10 10 10 35 35 34 32Memo: IBRD 5 24 241 369 338 313 305 273 207 178 IDA 0 0 1 1 1 1 2 4 8 11

NET FLOWS ON DEBT 13 1,510 -253 -1,110 -525 -497 -430 -937 -1,648 -1,068Public and publicly guaranteed 18 1,122 -238 -1,100 -515 -487 -395 -902 -1,614 -1,036Official creditors 29 77 -132 -420 -267 -473 -284 -761 -1,464 -426 Multilateral 10 48 295 -139 -152 -143 -274 -251 -257 -224 Concessional 1 0 6 93 96 144 78 63 11 34 Bilateral 20 29 -428 -280 -115 -329 -9 -510 -1,206 -202 Concessional 25 35 95 0 -70 -319 0 0 -9 -26Private creditors -11 1,046 -106 -680 -248 -15 -111 -142 -150 -610 Bonds 0 0 0 0 0 0 0 0 0 -452 Commercial banks 3 491 -388 0 0 0 0 0 0 0 Other private -14 555 282 -680 -248 -15 -111 -142 -150 -158Private nonguaranteed -5 388 -15 -10 -10 -10 -35 -35 -34 -32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -5 388 -15 -10 -10 -10 -35 -35 -34 -32Memo: IBRD 8 38 144 -231 -161 -227 -261 -242 -189 -176 IDA 1 0 6 89 82 134 72 51 1 8

390NIGERIA


INTEREST PAYMENTS (LINT) 28 529 2,123 1,043 543 521 418 690 804 324Public and publicly guaranteed 20 438 2,120 1,025 532 512 404 673 787 313Official creditors 16 63 1,300 515 365 375 245 516 631 160 Multilateral 9 46 262 322 280 242 243 190 139 143 Concessional 0 0 0 3 3 4 5 5 5 6 Bilateral 7 17 1,038 193 85 133 2 326 492 17 Concessional 3 8 312 0 65 132 0 0 15 3Private creditors 4 375 820 510 166 136 159 157 156 153 Bonds 0 0 0 128 128 128 128 128 128 128 Commercial banks 1 352 378 0 0 0 0 0 0 0 Other private 3 24 442 382 38 8 31 29 27 25Private nonguaranteed 8 91 3 18 12 9 14 18 18 11 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 91 3 18 12 9 14 18 18 11Memo: IBRD 9 45 243 228 181 154 138 103 79 70 IDA 0 0 0 2 3 3 4 5 5 5

NET TRANSFERS ON DEBT -14 981 -2,377 -2,153 -1,069 -1,018 -848 -1,628 -2,452 -1,391Public and publicly guaranteed -2 684 -2,358 -2,125 -1,047 -999 -799 -1,575 -2,401 -1,348Official creditors 13 14 -1,433 -935 -633 -848 -529 -1,276 -2,095 -586 Multilateral 1 2 33 -461 -433 -386 -518 -441 -396 -367 Concessional 1 -1 6 91 92 140 73 58 6 28 Bilateral 13 12 -1,466 -473 -200 -462 -11 -836 -1,699 -219 Concessional 22 27 -217 0 -135 -451 0 0 -24 -29Private creditors -15 670 -926 -1,190 -414 -151 -270 -299 -305 -763 Bonds 0 0 0 -128 -128 -128 -128 -128 -128 -580 Commercial banks 2 140 -766 0 0 0 0 0 0 0 Other private -17 531 -160 -1,063 -286 -23 -142 -170 -177 -183Private nonguaranteed -13 297 -18 -28 -22 -19 -49 -53 -52 -43 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -13 297 -18 -28 -22 -19 -49 -53 -52 -43Memo: IBRD -1 -6 -100 -459 -341 -380 -399 -346 -268 -246 IDA 1 -1 6 87 79 131 68 46 -3 3

DEBT SERVICE (LTDS) 96 771 3,304 2,461 1,383 1,294 1,023 1,781 2,519 1,472Public and publicly guaranteed 58 503 3,285 2,433 1,361 1,275 974 1,728 2,467 1,429Official creditors 32 108 2,074 1,243 947 1,124 704 1,430 2,162 666 Multilateral 14 71 509 769 747 661 693 594 463 447 Concessional 0 1 1 4 4 5 8 10 14 18 Bilateral 18 37 1,566 473 200 462 11 836 1,699 219 Concessional 8 22 317 0 135 451 0 0 24 29Private creditors 26 395 1,211 1,190 414 151 270 299 305 763 Bonds 0 0 0 128 128 128 128 128 128 580 Commercial banks 1 352 766 0 0 0 0 0 0 0 Other private 25 43 445 1,063 286 23 142 170 177 183Private nonguaranteed 38 269 18 28 22 19 49 53 52 43 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 38 269 18 28 22 19 49 53 52 43Memo: IBRD 14 69 484 597 519 467 443 377 286 248 IDA 0 1 1 3 4 4 7 9 12 16

UNDISBURSED DEBT 185 3,714 5,216 3,073 1,316 672 473 370 724 716Official creditors 167 1,112 3,938 2,425 1,316 672 473 370 724 716Private creditors 18 2,602 1,278 648 0 0 0 0 0 0Memorandum items Concessional LDOD 131 439 521 1,353 1,322 1,582 1,724 1,457 1,339 1,472 Variable rate LDOD 127 4,001 11,044 5,218 4,864 4,912 4,529 1,925 1,639 1,554 Public sector LDOD 450 4,271 31,545 25,359 22,565 23,377 22,292 29,964 29,171 28,012 Private sector LDOD 117 1,097 391 372 362 353 316 271 228 194



391NIGERIA



Total amount rescheduled .. .. 1,480 0 0 0 0 20,920 1,186 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 1,280 0 0 0 10 12,027 22 0 Official .. .. 1,090 0 0 0 0 10,024 14 0 Private .. .. 191 0 0 0 10 2,003 7 0 Interest rescheduled .. .. 169 0 0 0 4 8,471 57 0 Official .. .. 149 0 0 0 0 7,920 56 0 Private .. .. 21 0 0 0 4 551 2 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 286 1,023 700 0 0 0 0 610 of which debt buyback .. .. 0 280 0 0 0 0 0 452

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 3,317 -2,686 -2,952 1,840 -1,167 2,227 -313 -566 Net flows on debt 13 2,780 -34 -1,334 -663 -279 -385 -696 -1,497 -1,501 Net change in interest arrears .. .. 820 249 -10 818 -90 -5,641 372 1,060 Interest capitalized .. .. 169 0 0 0 4 8,471 57 0 Debt forgiveness or reduction .. .. -286 -742 -700 0 0 0 0 -158 Cross-currency valuation .. .. 2,014 -1,166 -1,635 883 -647 -1,189 -279 392 Residual .. .. 635 307 55 418 -50 1,283 1,034 -360

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.0 10.5 6.6 0.0 0.0 0.0 0.0 0.8 1.0 1.2 Maturity (years) 14.0 10.9 19.0 0.0 0.0 0.0 0.0 34.7 34.9 38.0 Grace period (years) 3.9 3.5 5.2 0.0 0.0 0.0 0.0 10.2 10.3 8.2 Grant element (%) 21.3 -2.2 23.0 0.0 0.0 0.0 0.0 78.7 75.7 67.7Official creditors Interest (%) 5.9 8.2 5.8 0.0 0.0 0.0 0.0 0.8 1.0 1.2 Maturity (years) 15.4 16.1 22.4 0.0 0.0 0.0 0.0 34.7 34.9 38.0 Grace period (years) 4.3 3.9 6.1 0.0 0.0 0.0 0.0 10.2 10.3 8.2 Grant element (%) 23.2 9.2 30.3 0.0 0.0 0.0 0.0 78.7 75.7 67.7Private creditors Interest (%) 6.5 11.4 7.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 6.5 8.9 13.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.9 3.4 3.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 11.0 -6.6 10.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments 65 1,904 2,192 0 0 0 0 80 490 62 Official creditors 55 525 1,391 0 0 0 0 80 490 62 Private creditors 10 1,380 801 0 0 0 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 132 116 88 82 81 71 56 37 31 12Principal 1,120 1,177 1,339 1,321 1,232 1,330 1,353 1,137 1,234 1,351Interest 1,535 1,482 1,417 1,344 1,272 1,207 1,136 1,066 1,000 926Official creditors Disbursements 132 116 88 82 81 71 56 37 31 12Principal 930 1,003 1,160 1,145 1,060 1,183 1,204 1,100 1,234 1,351Interest 1,416 1,368 1,308 1,240 1,173 1,112 1,044 976 910 836 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 549 622 786 806 777 920 1,037 973 1,136 1,288 Interest 1,278 1,249 1,209 1,162 1,113 1,067 1,013 954 894 824 Multilateral creditors Disbursements 132 116 88 82 81 71 56 37 31 12 Principal 381 381 374 339 283 263 168 127 99 63 Interest 138 119 99 78 60 44 31 22 15 11Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0Principal 189 175 179 176 172 148 148 37 0 0Interest 120 114 109 104 99 96 93 90 90 90 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 189 175 179 176 172 148 148 37 0 0 Interest 120 114 109 104 99 96 93 90 90 90

392OMAN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. 599 2,736 6,120 6,227 6,266 6,839 6,564 6,021 4,639Long-term debt (LDOD) .. 436 2,400 5,354 5,195 4,868 5,004 5,266 4,755 3,451Public and publicly guaranteed .. 436 2,400 2,646 2,567 2,235 2,596 2,970 2,687 1,979Private nonguaranteed .. 0 0 2,708 2,628 2,632 2,408 2,296 2,068 1,471Use of IMF credit .. 0 0 0 0 0 0 0 0 0Short-term debt .. 163 335 766 1,032 1,398 1,835 1,299 1,266 1,188of which interest arrears on LDOD .. 0 1 1 1 0 0 0 1 0 Official creditors .. 0 1 1 1 0 0 0 0 0 Private creditors .. 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. 0 3 35 5 0 4 4 16 17 Official creditors .. 0 3 35 5 0 0 0 8 12 Private creditors .. 0 0 0 0 0 4 4 8 5Memo: export credits .. 0 561 987 1,437 191 214 150 155 374

TOTAL DEBT FLOWS Disbursements .. 98 125 1,298 492 442 821 527 700 289Long-term debt .. 98 125 1,298 492 442 821 527 700 289IMF purchases .. 0 0 0 0 0 0 0 0 0Principal repayments .. 179 536 1,151 597 796 696 479 1,310 1,535Long-term debt .. 179 536 1,151 597 796 696 479 1,310 1,535IMF repurchases .. 0 0 0 0 0 0 0 0 0Net flows on debt .. -64 -425 373 161 13 561 -489 -643 -1,323of which short-term debt .. 17 -14 226 266 367 437 -537 -33 -77Interest payments (INT) .. 70 203 333 323 357 280 385 356 214Long-term debt .. 44 177 302 278 295 272 298 297 161IMF charges .. 0 0 0 0 0 0 0 0 0Short-term debt .. 26 25 31 45 62 8 87 59 53Net transfers on debt .. -134 -627 40 -162 -344 281 -874 -1,000 -1,536Total debt service paid (TDS) .. 249 739 1,484 920 1,153 976 864 1,667 1,748Long-term debt .. 223 714 1,453 875 1,091 968 777 1,608 1,696IMF repurchases and charges .. 0 0 0 0 0 0 0 0 0Short-term debt (interest only) .. 26 25 31 45 62 8 87 59 53


NET RESOURCE FLOWS .. 174 -212 237 81 -1 172 142 -560 -1,181Net flow of long-term debt (ex. IMF) .. -81 -411 147 -105 -355 125 48 -610 -1,246Foreign direct investment (net) .. 98 142 60 65 101 21 70 42 40Portfolio equity flows .. 0 0 10 86 239 13 -10 -3 -13Grants (excluding technical coop.) .. 157 57 20 35 13 14 35 11 38Memo: technical coop. grants .. 4 13 17 18 25 13 15 10 5 official net resource flows .. 140 45 80 19 -16 90 59 311 -49 private net resource flows .. 34 -257 157 62 15 82 83 -871 -1,131

NET TRANSFERS .. -155 -779 -573 -798 -912 -666 -829 -1,471 -1,942Interest on long-term debt .. 44 177 302 278 295 272 298 297 161Profit remittances on FDI .. 286 390 507 601 616 567 674 614 600Memo: official net transfers .. 127 31 52 -12 -44 60 27 266 -102 private net transfers .. -282 -810 -625 -786 -868 -727 -856 -1,737 -1,840


Gross national income (GNI) .. 5,725 10,281 14,840 15,449 13,610 15,030 19,157 19,355 19,790Exports of goods, serv. & inc. (XGS) .. 3,887 5,990 7,867 8,309 6,229 7,827 12,034 11,732 ..Worker remit. & comp. of employees .. 35 39 39 39 39 39 39 39 39Imports of goods & services (MGS) .. 2,650 3,971 6,159 6,887 7,712 6,680 7,160 7,886 ..International reserves (RES) .. 704 1,784 1,497 1,633 1,148 2,852 2,460 2,445 3,174Current account balance .. 942 1,106 338 -78 -2,950 -291 3,423 2,315 ..

4. DEBT INDICATORS

EDT / XGS (%) .. 15.4 45.7 77.8 74.9 100.6 87.4 54.5 51.3 ..EDT / GNI (%) .. 10.5 26.6 41.2 40.3 46.0 45.5 34.3 31.1 23.4TDS / XGS (%) .. 6.4 12.3 18.9 11.1 18.5 12.5 7.2 14.2 ..INT / XGS (%) .. 1.8 3.4 4.2 3.9 5.7 3.6 3.2 3.0 ..INT / GNI (%) .. 1.2 2.0 2.2 2.1 2.6 1.9 2.0 1.8 1.1RES / EDT (%) .. 117.7 65.2 24.5 26.2 18.3 41.7 37.5 40.6 68.4RES / MGS (months) .. 3.2 5.4 2.9 2.8 1.8 5.1 4.1 3.7 ..Short-term / EDT (%) .. 27.2 12.3 12.5 16.6 22.3 26.8 19.8 21.0 25.6Concessional / EDT (%) .. 43.6 8.9 9.6 8.9 8.9 9.6 13.3 19.1 23.8Multilateral / EDT (%) .. 5.8 4.7 3.6 3.2 3.2 4.1 7.9 13.4 17.4

393OMAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. 436 2,400 5,354 5,195 4,868 5,004 5,266 4,755 3,451Public and publicly guaranteed .. 436 2,400 2,646 2,567 2,235 2,596 2,970 2,687 1,979Official creditors .. 349 327 693 645 642 735 983 1,291 1,145 Multilateral .. 35 129 221 199 202 277 520 804 809 Concessional .. 6 49 121 111 118 203 457 753 766 Bilateral .. 314 198 473 446 439 457 463 487 336 Concessional .. 255 194 469 443 437 456 417 399 336Private creditors .. 87 2,073 1,952 1,923 1,593 1,861 1,987 1,396 834 Bonds .. 0 0 0 225 225 225 225 225 0 Commercial banks .. 0 1,720 1,439 1,257 995 1,330 1,593 920 624 Other private .. 87 353 514 440 374 306 168 251 210Private nonguaranteed .. 0 0 2,708 2,628 2,632 2,408 2,296 2,068 1,471 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 2,708 2,628 2,632 2,408 2,296 2,068 1,471Memo: IBRD .. 14 52 19 13 9 6 3 1 0 IDA .. 0 0 0 0 0 0 0 0 0

DISBURSEMENTS .. 98 125 1,298 492 442 821 527 700 289Public and publicly guaranteed .. 98 125 608 272 45 670 394 486 119Official creditors .. 45 34 106 44 45 132 89 368 99 Multilateral .. 13 22 49 10 17 100 23 308 13 Concessional .. 6 12 28 8 14 98 21 308 13 Bilateral .. 32 13 57 34 28 33 66 60 85 Concessional .. 7 13 57 34 28 33 20 18 85Private creditors .. 52 91 502 228 0 538 305 118 21 Bonds .. 0 0 0 225 0 0 0 0 0 Commercial banks .. 0 0 468 0 0 538 300 77 0 Other private .. 52 91 34 3 0 0 6 41 20Private nonguaranteed .. 0 0 691 220 397 151 133 214 170 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 691 220 397 151 133 214 170Memo: IBRD .. 6 9 0 0 0 0 0 0 0 IDA .. 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. 179 536 1,151 597 796 696 479 1,310 1,535Public and publicly guaranteed .. 179 536 570 297 404 321 234 643 768Official creditors .. 62 46 45 60 74 56 64 68 186 Multilateral .. 3 30 22 23 18 20 24 24 25 Concessional .. 0 10 13 13 9 11 14 14 13 Bilateral .. 60 16 23 37 56 35 40 44 161 Concessional .. 9 15 22 37 55 35 39 43 161Private creditors .. 117 490 526 237 330 266 170 575 582 Bonds .. 0 0 0 0 0 0 0 0 225 Commercial banks .. 32 370 482 167 262 203 36 487 296 Other private .. 85 120 44 70 68 62 134 88 62Private nonguaranteed .. 0 0 581 300 392 375 245 667 766 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 581 300 392 375 245 667 766Memo: IBRD .. 1 16 5 4 4 3 3 1 1 IDA .. 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. -81 -411 147 -105 -355 125 48 -610 -1,246Public and publicly guaranteed .. -81 -411 37 -25 -359 349 160 -157 -649Official creditors .. -17 -12 61 -16 -29 76 25 300 -87 Multilateral .. 11 -9 27 -12 -1 79 -1 284 -11 Concessional .. 6 2 15 -6 5 88 7 295 0 Bilateral .. -27 -3 34 -4 -28 -3 26 16 -76 Concessional .. -1 -2 35 -3 -27 -2 -19 -25 -76Private creditors .. -65 -400 -24 -9 -330 273 135 -457 -562 Bonds .. 0 0 0 225 0 0 0 0 -225 Commercial banks .. -32 -370 -14 -167 -262 335 264 -410 -296 Other private .. -32 -30 -10 -67 -68 -62 -128 -47 -41Private nonguaranteed .. 0 0 110 -80 5 -224 -112 -453 -596 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 110 -80 5 -224 -112 -453 -596Memo: IBRD .. 5 -6 -5 -4 -4 -3 -3 -1 -1 IDA .. 0 0 0 0 0 0 0 0 0

394OMAN



NET TRANSFERS ON DEBT .. -125 -589 -155 -383 -649 -147 -250 -907 -1,407Public and publicly guaranteed .. -125 -589 -112 -157 -515 213 5 -309 -746Official creditors .. -30 -26 33 -47 -57 46 -7 255 -140 Multilateral .. 9 -15 17 -24 -13 67 -15 257 -52 Concessional .. 6 2 9 -12 -2 81 -2 273 -36 Bilateral .. -39 -11 16 -23 -45 -21 8 -2 -88 Concessional .. -2 -10 17 -22 -44 -20 -37 -41 -88Private creditors .. -95 -563 -144 -110 -457 167 12 -564 -606 Bonds .. 0 0 0 225 -16 -16 -16 -16 -233 Commercial banks .. -35 -503 -98 -231 -342 272 178 -483 -317 Other private .. -60 -60 -46 -104 -100 -89 -150 -65 -56Private nonguaranteed .. 0 0 -43 -226 -134 -360 -255 -598 -661 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 -43 -226 -134 -360 -255 -598 -661Memo: IBRD .. 4 -11 -6 -5 -5 -4 -3 -2 -1 IDA .. 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. 223 714 1,453 875 1,091 968 777 1,608 1,696Public and publicly guaranteed .. 223 714 719 429 560 457 389 796 865Official creditors .. 76 60 73 91 102 86 96 113 239 Multilateral .. 5 37 32 34 29 32 38 52 66 Concessional .. 0 10 18 20 16 17 23 35 49 Bilateral .. 71 23 41 57 73 54 58 62 173 Concessional .. 9 23 40 56 72 53 57 59 173Private creditors .. 147 654 646 338 458 371 293 682 626 Bonds .. 0 0 0 0 16 16 16 16 233 Commercial banks .. 35 503 566 231 342 267 122 560 317 Other private .. 113 151 80 106 100 89 155 107 76Private nonguaranteed .. 0 0 734 446 531 511 388 812 831 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 734 446 531 511 388 812 831Memo: IBRD .. 2 20 6 5 5 4 3 2 1 IDA .. 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT .. 499 897 229 196 323 1,291 1,499 1,050 1,285Official creditors .. 176 454 181 151 272 1,031 1,276 916 1,096Private creditors .. 323 443 49 45 50 260 224 134 190Memorandum items Concessional LDOD .. 261 243 590 554 555 659 873 1,152 1,102 Variable rate LDOD .. 0 1,386 4,028 3,783 3,636 3,744 3,938 3,078 2,157 Public sector LDOD .. 436 2,400 2,646 2,567 2,235 2,596 2,970 2,687 1,979 Private sector LDOD .. 0 0 2,708 2,628 2,632 2,408 2,296 2,068 1,471



395OMAN




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -233 344 107 39 573 -275 -543 -1,382 Net flows on debt .. -64 -425 373 161 13 561 -489 -643 -1,323 Net change in interest arrears .. .. 1 -1 0 -1 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 39 -27 -55 44 14 -38 -27 32 Residual .. .. 152 -2 1 -17 -2 252 127 -91

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. 7.9 7.5 5.7 6.7 3.4 6.3 5.4 0.0 1.8 Maturity (years) .. 9.4 13.8 8.1 6.0 18.0 11.7 10.6 0.0 6.3 Grace period (years) .. 3.2 4.0 4.9 4.7 3.2 2.6 2.4 0.0 1.5 Grant element (%) .. 9.1 12.8 19.1 13.7 37.5 15.8 20.9 0.0 25.0Official creditors Interest (%) .. 10.0 1.9 3.5 3.6 3.3 6.6 4.3 0.0 1.6 Maturity (years) .. 10.5 16.7 19.1 13.0 18.2 16.7 15.4 0.0 6.7 Grace period (years) .. 2.9 4.5 4.1 2.9 3.2 2.6 3.4 0.0 1.8 Grant element (%) .. 2.9 45.1 40.9 32.7 37.8 17.8 31.6 0.0 27.0Private creditors Interest (%) .. 7.5 8.0 6.0 7.1 3.9 5.9 6.7 0.0 2.4 Maturity (years) .. 9.2 13.5 7.0 5.0 11.1 6.1 4.2 0.0 4.3 Grace period (years) .. 3.3 4.0 5.0 5.0 3.1 2.7 1.0 0.0 0.3 Grant element (%) .. 10.3 9.9 16.9 10.9 28.8 13.5 6.7 0.0 14.9Memorandum items Commitments .. 454 412 441 258 188 1,609 656 0 460 Official creditors .. 75 34 41 33 183 859 375 0 387 Private creditors .. 379 378 400 225 5 749 281 0 73


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 428 392 221 110 53 22 8 1 1 0Principal 1,217 789 625 495 355 234 188 138 129 126Interest 145 113 92 75 57 49 42 35 29 23Official creditors Disbursements 317 338 202 104 53 22 8 1 1 0Principal 144 209 232 226 220 214 177 136 127 123Interest 54 61 63 61 55 49 42 35 29 23 Bilateral creditors Disbursements 284 305 182 92 46 20 7 0 0 0 Principal 75 109 147 142 142 140 102 66 64 61 Interest 19 30 35 35 33 29 25 21 18 14 Multilateral creditors Disbursements 34 33 20 12 7 2 1 1 1 0 Principal 68 100 84 84 79 74 74 69 62 61 Interest 35 32 28 25 23 20 17 14 11 9Private creditors Disbursements 111 54 19 6 0 0 0 0 0 0Principal 1,073 580 394 268 135 20 11 3 3 3Interest 91 52 29 14 1 1 0 0 0 0 Commercial banks Disbursements 18 0 0 0 0 0 0 0 0 0 Principal 387 139 36 20 20 20 11 3 3 3 Interest 10 4 2 1 1 1 0 0 0 0 Other private Disbursements 93 54 19 6 0 0 0 0 0 0 Principal 686 441 358 249 115 0 0 0 0 0 Interest 81 48 27 13 0 0 0 0 0 0

396PAKISTAN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 3,407 9,931 20,663 29,829 30,074 32,263 33,891 32,779 31,692 33,672Long-term debt (LDOD) 3,257 8,520 16,643 25,617 26,312 28,743 30,358 29,731 28,572 30,100Public and publicly guaranteed 3,252 8,502 16,506 23,622 23,974 26,141 28,136 27,171 26,474 28,102Private nonguaranteed 5 18 138 1,995 2,338 2,602 2,221 2,560 2,098 1,998Use of IMF credit 45 674 835 1,396 1,281 1,360 1,704 1,529 1,807 2,032Short-term debt 104 737 3,185 2,816 2,481 2,159 1,830 1,519 1,314 1,540of which interest arrears on LDOD 0 0 1 0 0 213 0 0 0 0 Official creditors 0 0 1 0 0 143 0 0 0 0 Private creditors 0 0 0 0 0 70 0 0 0 0Memo: principal arrears on LDOD 0 0 15 0 0 577 0 0 0 0 Official creditors 0 0 15 0 0 482 0 0 0 0 Private creditors 0 0 0 0 0 94 0 0 0 0Memo: export credits 0 0 2,343 4,765 4,779 1,498 2,060 2,277 2,130 2,628

TOTAL DEBT FLOWS Disbursements 571 1,366 1,746 3,599 4,801 2,680 2,659 1,834 2,750 2,315Long-term debt 571 1,058 1,746 3,443 4,520 2,501 2,048 1,640 2,241 1,972IMF purchases 0 308 0 156 281 178 611 195 510 343Principal repayments 178 492 1,071 2,093 2,848 1,441 1,888 1,869 2,134 2,019Long-term debt 150 352 905 1,772 2,537 1,283 1,652 1,587 1,960 1,751IMF repurchases 28 139 166 322 311 158 236 282 174 268Net flows on debt 393 1,170 1,089 1,086 1,618 704 655 -346 411 522of which short-term debt 0 296 414 -419 -335 -535 -116 -311 -205 226Interest payments (INT) 81 377 831 1,193 1,235 856 1,047 985 864 825Long-term debt 81 248 515 910 905 711 954 858 755 731IMF charges 0 27 52 58 37 35 44 49 52 40Short-term debt 0 103 264 225 294 110 49 78 57 55Net transfers on debt 313 793 258 -107 383 -152 -392 -1,331 -453 -303Total debt service paid (TDS) 259 869 1,902 3,286 4,083 2,297 2,935 2,854 2,998 2,844Long-term debt 230 600 1,420 2,682 3,441 1,994 2,606 2,444 2,715 2,482IMF repurchases and charges 28 166 218 379 348 193 280 332 226 307Short-term debt (interest only) 0 103 264 225 294 110 49 78 57 55


NET RESOURCE FLOWS 498 1,251 1,411 3,078 3,204 1,878 1,191 520 1,410 1,387Net flow of long-term debt (ex. IMF) 422 706 841 1,671 1,983 1,219 396 53 281 221Foreign direct investment (net) 23 64 245 922 716 506 532 308 383 823Portfolio equity flows 0 0 0 285 330 -22 66 35 -130 79Grants (excluding technical coop.) 53 482 324 200 174 175 197 124 876 264Memo: technical coop. grants 24 120 318 156 130 119 100 82 92 209 official net resource flows 433 1,021 1,228 1,316 947 1,024 1,071 538 1,639 1,008 private net resource flows 64 230 182 1,763 2,257 853 120 -18 -229 379

NET TRANSFERS 417 998 842 1,989 2,017 859 -32 -766 185 81Interest on long-term debt 81 248 515 910 905 711 954 858 755 731Profit remittances on FDI 0 6 53 180 283 307 269 429 470 575Memo: official net transfers 369 819 778 622 263 502 525 12 1,170 467 private net transfers 48 179 64 1,366 1,754 357 -557 -778 -986 -385


Gross national income (GNI) 9,933 23,409 39,044 63,107 61,927 61,661 58,106 59,889 57,690 59,592Exports of goods, serv. & inc. (XGS) .. 5,366 8,937 11,983 11,830 10,509 10,161 11,312 12,164 15,943Worker remit. & comp. of employees 0 2,048 2,006 1,284 1,707 1,172 996 1,075 1,461 3,554Imports of goods & services (MGS) .. 6,707 11,386 17,820 15,775 14,358 13,625 14,484 14,260 14,963International reserves (RES) 195 1,568 1,046 1,307 1,795 1,626 2,117 2,087 4,218 8,796Current account balance .. -866 -1,661 -4,436 -1,712 -2,248 -920 -85 1,878 3,871

4. DEBT INDICATORS


397PAKISTAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 3,257 8,520 16,643 25,617 26,312 28,743 30,358 29,731 28,572 30,100Public and publicly guaranteed 3,252 8,502 16,506 23,622 23,974 26,141 28,136 27,171 26,474 28,102Official creditors 2,942 7,952 15,791 22,396 21,544 23,715 25,976 25,120 25,102 27,174 Multilateral 614 1,532 6,894 12,190 11,860 13,125 14,132 13,477 13,072 14,803 Concessional 280 956 3,887 7,174 7,116 7,973 8,537 8,192 8,199 9,926 Bilateral 2,327 6,420 8,897 10,207 9,684 10,590 11,844 11,643 12,030 12,371 Concessional 2,067 6,154 8,207 8,786 7,926 8,852 9,964 9,844 11,378 11,692Private creditors 311 550 714 1,226 2,430 2,427 2,160 2,051 1,372 927 Bonds 0 0 0 310 685 685 623 623 623 445 Commercial banks 6 115 401 298 1,351 1,378 1,149 1,099 662 408 Other private 305 435 313 618 394 364 387 329 87 75Private nonguaranteed 5 18 138 1,995 2,338 2,602 2,221 2,560 2,098 1,998 Bonds 0 0 0 45 45 45 45 45 0 0 Commercial banks and other 5 18 138 1,950 2,293 2,557 2,176 2,515 2,098 1,998Memo: IBRD 330 330 1,816 3,007 3,046 3,136 3,315 3,093 2,796 2,749 IDA 280 821 2,106 3,480 3,526 3,800 3,905 3,828 4,245 5,394

DISBURSEMENTS 571 1,058 1,746 3,443 4,520 2,501 2,048 1,640 2,241 1,972Public and publicly guaranteed 569 1,049 1,708 2,743 3,842 1,893 1,847 1,523 2,068 1,751Official creditors 471 793 1,629 2,347 2,616 1,738 1,749 1,518 1,685 1,646 Multilateral 94 161 978 1,276 1,195 1,006 1,217 1,039 1,629 1,569 Concessional 23 103 360 712 532 579 411 378 1,118 1,174 Bilateral 377 631 651 1,071 1,421 733 531 479 57 78 Concessional 325 539 325 456 368 638 85 255 32 76Private creditors 98 256 78 395 1,227 154 98 4 382 105 Bonds 0 0 0 160 375 0 0 0 0 0 Commercial banks 0 101 8 84 821 122 1 0 381 96 Other private 98 156 70 151 31 32 97 4 1 9Private nonguaranteed 3 9 38 701 678 609 201 117 173 221 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 9 38 701 678 609 201 117 173 221Memo: IBRD 66 16 356 371 490 130 434 159 70 33 IDA 23 74 135 280 233 218 194 141 599 928

PRINCIPAL REPAYMENTS 150 352 905 1,772 2,537 1,283 1,652 1,587 1,960 1,751Public and publicly guaranteed 149 346 866 1,473 2,201 983 1,026 1,142 1,454 1,450Official creditors 90 253 725 1,232 1,843 889 875 1,104 923 902 Multilateral 22 41 307 486 619 479 604 828 810 840 Concessional 0 5 43 93 111 119 137 165 175 179 Bilateral 68 212 418 746 1,225 410 271 276 113 63 Concessional 45 177 359 469 568 271 11 13 6 0Private creditors 59 92 141 241 358 94 150 37 531 548 Bonds 0 0 0 0 0 0 75 0 0 178 Commercial banks 1 10 88 156 122 48 66 30 453 350 Other private 58 83 53 85 236 46 9 7 78 20Private nonguaranteed 1 7 39 299 335 300 626 445 506 301 Bonds 0 0 0 0 0 0 0 0 45 0 Commercial banks and other 1 7 39 299 335 300 626 445 461 301Memo: IBRD 22 26 73 226 206 196 225 227 232 242 IDA 0 4 19 39 42 47 58 64 68 76

NET FLOWS ON DEBT 422 706 841 1,671 1,983 1,219 396 53 281 221Public and publicly guaranteed 420 704 841 1,269 1,641 910 821 381 614 301Official creditors 381 539 904 1,116 772 849 873 414 763 744 Multilateral 72 120 672 790 576 527 613 211 819 729 Concessional 23 99 317 619 420 460 274 213 943 995 Bilateral 309 419 232 326 196 322 260 203 -56 15 Concessional 279 363 -34 -13 -200 367 74 242 26 76Private creditors 39 164 -63 154 869 60 -52 -33 -149 -443 Bonds 0 0 0 160 375 0 -75 0 0 -178 Commercial banks -1 91 -80 -72 699 75 -65 -30 -72 -254 Other private 40 73 17 66 -205 -14 88 -3 -77 -11Private nonguaranteed 2 2 0 402 342 309 -425 -328 -333 -80 Bonds 0 0 0 0 0 0 0 0 -45 0 Commercial banks and other 2 2 0 402 342 309 -425 -328 -288 -80Memo: IBRD 44 -10 283 144 284 -67 209 -67 -161 -209 IDA 23 70 116 242 191 171 136 77 531 851

398PAKISTAN



NET TRANSFERS ON DEBT 341 458 326 762 1,079 507 -558 -805 -474 -509Public and publicly guaranteed 339 457 337 482 881 345 143 -260 35 -325Official creditors 316 337 454 422 89 327 328 -113 294 203 Multilateral 51 60 425 379 184 186 175 -172 458 397 Concessional 21 92 287 558 356 398 196 140 873 914 Bilateral 265 277 29 43 -96 142 153 60 -164 -194 Concessional 248 235 -207 -223 -401 291 28 184 -3 -91Private creditors 23 121 -117 60 792 18 -185 -147 -259 -528 Bonds 0 0 0 143 358 -9 -129 -61 -62 -236 Commercial banks -1 82 -118 -103 681 59 -133 -69 -105 -273 Other private 25 39 1 20 -247 -32 77 -17 -92 -19Private nonguaranteed 2 1 -11 280 198 162 -701 -545 -510 -185 Bonds 0 0 0 -2 -2 -2 -2 -2 -46 0 Commercial banks and other 2 1 -11 282 200 164 -699 -542 -464 -185Memo: IBRD 25 -42 157 -65 91 -249 5 -249 -320 -334 IDA 21 64 101 217 166 145 108 48 503 817

DEBT SERVICE (LTDS) 230 600 1,420 2,682 3,441 1,994 2,606 2,444 2,715 2,482Public and publicly guaranteed 230 592 1,371 2,261 2,962 1,548 1,704 1,783 2,032 2,076Official creditors 155 456 1,175 1,925 2,527 1,411 1,421 1,631 1,391 1,443 Multilateral 43 102 553 897 1,011 820 1,043 1,211 1,171 1,172 Concessional 2 12 73 154 176 181 215 238 245 261 Bilateral 112 355 622 1,028 1,516 591 378 420 220 272 Concessional 77 305 532 679 769 347 57 71 35 167Private creditors 75 136 196 336 435 137 283 151 641 633 Bonds 0 0 0 17 17 9 129 61 62 236 Commercial banks 1 19 126 187 140 64 135 69 486 369 Other private 74 117 69 131 277 64 19 22 93 28Private nonguaranteed 1 8 49 421 479 447 902 662 683 406 Bonds 0 0 0 2 2 2 2 2 46 0 Commercial banks and other 1 8 49 419 477 444 900 659 637 406Memo: IBRD 41 58 199 436 399 379 429 409 390 367 IDA 2 9 34 63 68 73 86 93 96 111

UNDISBURSED DEBT 1,609 2,822 9,153 8,927 7,115 6,548 5,175 3,426 3,421 3,457Official creditors 1,396 2,677 8,921 8,698 6,765 6,331 5,120 3,352 3,010 3,182Private creditors 213 145 231 229 350 217 55 74 411 276Memorandum items Concessional LDOD 2,347 7,110 12,094 15,960 15,041 16,826 18,501 18,035 19,577 21,618 Variable rate LDOD 5 129 2,232 6,853 8,994 9,743 8,931 9,132 7,279 9,567 Public sector LDOD 3,130 8,432 16,374 23,538 23,914 26,081 27,976 26,993 26,376 28,021 Private sector LDOD 127 88 269 2,079 2,398 2,661 2,382 2,738 2,196 2,079



399PAKISTAN



Total amount rescheduled .. .. 0 0 0 0 3,421 918 13,268 197 Debt stock rescheduled .. .. 0 0 0 0 615 29 11,461 49 Principal rescheduled .. .. 0 0 0 0 2,158 653 1,297 0 Official .. .. 0 0 0 0 1,453 575 1,160 0 Private .. .. 0 0 0 0 705 78 138 0 Interest rescheduled .. .. 0 0 0 0 625 236 129 145 Official .. .. 0 0 0 0 508 200 109 145 Private .. .. 0 0 0 0 118 37 20 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 0 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 2,315 -400 245 2,189 1,629 -1,112 -1,086 1,979 Net flows on debt 393 1,170 1,089 1,086 1,618 704 655 -346 411 522 Net change in interest arrears .. .. 0 0 0 213 -213 0 0 0 Interest capitalized .. .. 0 0 0 0 625 236 129 145 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 1,085 -1,650 -1,856 1,129 495 -1,669 -1,852 2,212 Residual .. .. 141 164 482 143 67 666 225 -900

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 2.6 4.4 5.3 5.0 5.2 5.1 4.8 6.3 2.8 1.9 Maturity (years) 31.7 30.1 22.5 20.9 12.0 18.1 14.8 12.5 19.9 23.7 Grace period (years) 11.5 6.6 6.1 6.0 3.4 5.0 3.9 3.0 5.4 6.5 Grant element (%) 60.7 47.9 34.6 33.2 21.5 32.0 25.5 19.9 46.7 56.7Official creditors Interest (%) 2.1 2.5 5.2 5.1 5.0 4.9 4.8 6.2 1.9 1.9 Maturity (years) 35.0 35.5 22.9 22.8 18.9 19.3 14.8 12.8 24.3 23.7 Grace period (years) 13.1 8.2 6.1 6.3 5.2 5.3 3.9 3.1 6.8 6.5 Grant element (%) 67.3 62.2 35.5 35.5 32.5 34.6 25.5 20.7 57.7 56.7Private creditors Interest (%) 5.7 11.3 8.8 4.5 5.5 7.1 0.0 8.0 5.2 0.0 Maturity (years) 11.2 10.8 11.3 5.1 3.3 6.5 0.0 5.3 7.1 0.0 Grace period (years) 1.9 0.9 4.8 3.3 1.2 2.1 0.0 1.0 1.3 0.0 Grant element (%) 17.9 -4.0 5.1 14.0 7.6 7.2 0.0 4.5 14.3 0.0Memorandum items Commitments 1,054 1,113 2,925 2,813 3,129 1,974 940 865 3,081 1,863 Official creditors 912 873 2,843 2,515 1,738 1,790 940 820 2,299 1,863 Private creditors 143 240 82 297 1,392 184 0 45 782 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 1,139 907 539 321 173 120 64 24 7 3Principal 1,517 1,626 1,605 1,476 1,355 1,360 998 964 898 914Interest 729 692 636 592 547 498 450 420 392 369Official creditors Disbursements 986 818 515 313 171 120 64 24 7 3Principal 856 962 1,019 1,040 991 997 968 949 883 900Interest 583 579 558 538 510 476 444 415 388 366 Bilateral creditors Disbursements 150 149 89 56 30 17 10 7 1 1 Principal 76 83 178 214 174 180 175 185 145 160 Interest 276 279 275 266 260 253 245 238 232 229 Multilateral creditors Disbursements 837 669 426 257 141 103 54 18 6 3 Principal 779 879 841 826 817 817 793 764 739 740 Interest 306 300 284 271 250 223 199 177 156 138Private creditors Disbursements 152 89 23 8 3 0 0 0 0 0Principal 661 664 586 436 365 363 30 15 14 14Interest 146 113 78 54 38 21 5 4 4 3 Commercial banks Disbursements 81 37 1 0 0 0 0 0 0 0 Principal 132 132 132 80 17 16 16 1 0 0 Interest 11 9 5 2 1 1 0 0 0 0 Other private Disbursements 71 52 23 8 3 0 0 0 0 0 Principal 529 532 454 357 347 347 14 14 14 14 Interest 136 105 72 52 36 21 5 4 4 3

400PANAMA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 229 2,973 6,506 6,078 6,031 6,416 6,847 7,046 8,246 8,298Long-term debt (LDOD) 194 2,269 3,855 5,219 5,427 5,776 6,254 6,491 7,728 7,877Public and publicly guaranteed 194 2,269 3,855 5,144 5,082 5,427 5,687 5,711 6,332 6,408Private nonguaranteed 0 0 0 75 344 349 567 780 1,395 1,469Use of IMF credit 0 23 272 131 142 177 149 90 54 50Short-term debt 35 681 2,379 728 462 463 444 464 464 371of which interest arrears on LDOD 0 1 979 49 50 22 1 1 1 0 Official creditors 0 0 266 1 0 0 0 0 0 0 Private creditors 0 1 713 48 50 22 1 1 1 0Memo: principal arrears on LDOD 0 0 1,984 192 168 109 2 2 2 1 Official creditors 0 0 553 3 5 3 0 0 0 0 Private creditors 0 0 1,431 190 163 107 2 2 2 1Memo: export credits 0 0 204 279 247 210 97 98 57 96

TOTAL DEBT FLOWS Disbursements 67 404 6 403 1,789 775 911 725 1,913 1,325Long-term debt 67 404 6 327 1,743 735 911 725 1,913 1,325IMF purchases 0 0 0 76 46 41 0 0 0 0Principal repayments 25 232 121 463 1,239 359 333 463 662 1,155Long-term debt 24 215 51 411 1,213 346 309 412 628 1,147IMF repurchases 2 17 70 52 26 13 24 52 33 8Net flows on debt 42 361 -115 20 283 445 580 282 1,251 78of which short-term debt 0 189 0 80 -267 29 2 20 0 -93Interest payments (INT) 7 256 224 431 331 369 408 455 514 522Long-term debt 7 252 91 385 301 336 376 419 481 510IMF charges 0 3 16 5 6 7 7 7 4 2Short-term debt 0 2 117 41 24 27 26 30 30 11Net transfers on debt 35 105 -339 -410 -48 75 172 -173 737 -444Total debt service paid (TDS) 32 488 345 894 1,570 729 741 918 1,176 1,677Long-term debt 30 466 141 796 1,514 682 685 830 1,110 1,656IMF repurchases and charges 2 20 87 57 32 20 30 58 37 10Short-term debt (interest only) 0 2 117 41 24 27 26 30 30 11


NET RESOURCE FLOWS 76 414 216 343 1,841 1,695 1,266 927 1,808 244Net flow of long-term debt (ex. IMF) 44 189 -44 -84 530 389 601 313 1,285 179Foreign direct investment (net) 33 219 136 416 1,299 1,296 652 603 513 57Portfolio equity flows 0 0 -1 0 0 0 0 0 0 0Grants (excluding technical coop.) -1 6 126 11 11 11 12 10 10 8Memo: technical coop. grants 8 9 -16 29 25 27 23 23 28 31 official net resource flows 10 83 87 -130 131 146 16 -1 8 64 private net resource flows 66 331 129 473 1,710 1,549 1,250 927 1,800 180

NET TRANSFERS 69 -294 -71 -451 1,024 647 99 -107 779 -469Interest on long-term debt 7 252 91 385 301 336 376 419 481 510Profit remittances on FDI 0 456 196 409 516 712 791 615 548 204Memo: official net transfers 7 49 -1 -371 65 78 -62 -80 -74 -4 private net transfers 62 -343 -70 -80 960 569 162 -27 853 -465


Gross national income (GNI) 1,034 3,393 5,051 8,836 9,318 10,411 10,635 11,325 11,514 12,079Exports of goods, serv. & inc. (XGS) .. 7,855 5,595 8,853 9,843 9,883 8,616 9,416 9,427 8,516Worker remit. & comp. of employees 0 66 110 86 64 58 48 16 21 22Imports of goods & services (MGS) .. 8,222 5,588 9,172 10,484 11,208 10,091 10,292 9,757 8,860International reserves (RES) 16 117 344 867 1,148 954 823 723 1,092 1,183Current account balance .. -329 209 -201 -507 -1,182 -1,320 -716 -154 -154

4. DEBT INDICATORS


401PANAMA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 194 2,269 3,855 5,219 5,427 5,776 6,254 6,491 7,728 7,877Public and publicly guaranteed 194 2,269 3,855 5,144 5,082 5,427 5,687 5,711 6,332 6,408Official creditors 93 593 1,502 1,076 1,145 1,329 1,349 1,297 1,265 1,359 Multilateral 38 325 1,019 676 772 983 1,028 1,030 1,053 1,131 Concessional 29 127 200 131 123 121 126 117 114 112 Bilateral 55 268 483 400 373 345 321 266 212 228 Concessional 49 138 194 290 288 284 281 245 209 227Private creditors 101 1,676 2,353 4,067 3,938 4,098 4,338 4,415 5,067 5,049 Bonds 29 395 260 3,328 3,328 3,600 3,925 4,141 4,882 4,920 Commercial banks 6 1,161 1,970 691 566 489 402 262 176 121 Other private 66 120 123 49 43 9 11 11 9 8Private nonguaranteed 0 0 0 75 344 349 567 780 1,395 1,469 Bonds 0 0 0 75 321 246 266 266 520 427 Commercial banks and other 0 0 0 0 23 103 301 514 875 1,042Memo: IBRD 7 133 462 199 209 279 288 283 282 287 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 67 404 6 327 1,743 735 911 725 1,913 1,325Public and publicly guaranteed 67 404 6 252 1,469 650 666 487 1,235 1,079Official creditors 15 95 6 192 240 247 113 99 106 141 Multilateral 6 68 0 168 200 235 94 88 97 117 Concessional 6 23 0 2 1 8 8 7 8 12 Bilateral 9 27 6 24 39 12 19 11 8 23 Concessional 8 10 0 24 39 12 19 11 8 23Private creditors 52 309 0 61 1,230 403 553 388 1,129 938 Bonds 0 25 0 0 1,200 352 517 370 1,123 930 Commercial banks 0 272 0 55 30 51 34 17 6 8 Other private 52 13 0 5 0 0 2 2 0 0Private nonguaranteed 0 0 0 75 274 85 245 238 679 247 Bonds 0 0 0 75 246 0 20 0 267 0 Commercial banks and other 0 0 0 0 28 85 225 238 412 247Memo: IBRD 0 20 0 69 53 91 31 22 26 30 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 24 215 51 411 1,213 346 309 412 628 1,147Public and publicly guaranteed 24 215 51 411 1,209 266 283 387 558 952Official creditors 5 18 45 333 121 111 109 109 108 85 Multilateral 2 9 43 72 69 60 54 58 59 69 Concessional 1 3 0 11 9 10 10 9 11 14 Bilateral 3 8 2 261 51 51 55 52 49 16 Concessional 2 2 0 10 29 29 35 33 32 14Private creditors 19 197 6 78 1,088 155 173 277 450 867 Bonds 1 9 2 0 987 59 156 120 356 802 Commercial banks 2 165 1 70 95 94 16 156 92 63 Other private 16 23 3 8 6 3 1 1 2 2Private nonguaranteed 0 0 0 0 5 80 27 25 70 195 Bonds 0 0 0 0 0 75 0 0 20 115 Commercial banks and other 0 0 0 0 5 5 27 25 50 80Memo: IBRD 1 6 41 31 29 26 21 24 26 27 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT 44 189 -44 -84 530 389 601 313 1,285 179Public and publicly guaranteed 44 189 -44 -159 261 384 383 100 677 127Official creditors 11 77 -39 -141 119 136 4 -11 -3 56 Multilateral 5 59 -43 96 131 175 40 30 39 48 Concessional 5 20 0 -9 -9 -2 -2 -2 -3 -2 Bilateral 6 18 4 -237 -12 -39 -36 -41 -41 8 Concessional 6 8 0 15 10 -17 -16 -23 -23 9Private creditors 33 112 -5 -18 142 248 379 111 679 71 Bonds -1 16 -2 0 213 293 361 249 767 128 Commercial banks -2 106 -1 -15 -65 -43 18 -139 -86 -55 Other private 36 -10 -3 -3 -6 -3 1 0 -2 -2Private nonguaranteed 0 0 0 75 269 5 218 213 608 52 Bonds 0 0 0 75 246 -75 20 0 247 -115 Commercial banks and other 0 0 0 0 23 80 198 213 361 167Memo: IBRD -1 15 -41 37 25 65 9 -2 0 3 IDA 0 0 0 0 0 0 0 0 0 0

402PANAMA



NET TRANSFERS ON DEBT 37 -62 -135 -468 230 53 226 -105 804 -331Public and publicly guaranteed 37 -62 -135 -543 -31 84 47 -266 256 -310Official creditors 8 42 -127 -382 53 68 -74 -90 -84 -12 Multilateral 3 39 -128 57 87 122 -25 -39 -34 -14 Concessional 4 17 -9 -12 -11 -4 -5 -6 -7 -5 Bilateral 5 4 1 -439 -34 -54 -49 -51 -50 2 Concessional 5 4 0 4 -3 -26 -25 -30 -30 4Private creditors 29 -105 -9 -162 -84 16 122 -176 340 -298 Bonds -2 -24 -2 -1 50 95 127 -15 442 -233 Commercial banks -3 -61 -1 -155 -124 -74 -6 -160 -100 -63 Other private 33 -20 -6 -6 -9 -5 1 -1 -2 -2Private nonguaranteed 0 0 0 75 260 -31 179 160 547 -21 Bonds 0 0 0 75 239 -105 -2 -24 216 -153 Commercial banks and other 0 0 0 0 22 74 181 184 331 132Memo: IBRD -1 3 -68 25 10 50 -9 -23 -20 -15 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) 30 466 141 796 1,514 682 685 830 1,110 1,656Public and publicly guaranteed 30 466 141 796 1,500 566 619 753 979 1,389Official creditors 7 52 132 574 187 179 188 189 189 153 Multilateral 3 29 128 111 114 113 120 127 131 132 Concessional 2 6 9 14 12 12 13 13 14 17 Bilateral 4 23 4 463 73 66 68 62 58 21 Concessional 3 6 0 20 42 39 44 41 38 19Private creditors 23 414 9 222 1,314 387 431 564 789 1,236 Bonds 2 49 2 1 1,150 257 390 385 680 1,163 Commercial banks 3 333 1 210 154 125 39 177 106 71 Other private 19 32 6 12 9 5 2 2 2 2Private nonguaranteed 0 0 0 0 14 116 66 78 131 267 Bonds 0 0 0 0 8 105 22 24 51 153 Commercial banks and other 0 0 0 0 6 11 43 54 80 115Memo: IBRD 1 17 68 44 44 41 40 45 46 45 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT 96 594 222 575 679 802 832 738 627 576Official creditors 92 522 214 448 534 701 736 719 613 566Private creditors 5 73 8 127 146 101 96 19 14 10Memorandum items Concessional LDOD 78 265 394 421 411 404 407 362 323 339 Variable rate LDOD 0 1,197 2,186 3,955 3,055 3,008 2,984 2,918 3,304 3,026 Public sector LDOD 194 2,269 3,855 5,144 5,082 5,427 5,687 5,711 6,332 6,408 Private sector LDOD 0 0 0 75 344 349 567 780 1,395 1,469



403PANAMA



Total amount rescheduled .. .. 0 3,328 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 2 0 0 0 0 0 0 Principal rescheduled .. .. 0 1,744 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 1,744 0 0 0 0 0 0 Interest rescheduled .. .. 0 1,349 0 0 0 0 0 0 Official .. .. 0 0 0 0 0 0 0 0 Private .. .. 0 1,349 0 0 0 0 0 0Debt forgiven .. .. 0 590 56 29 3 0 3 3 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 0 56 1,227 80 155 154 361 531 of which debt buyback .. .. 0 0 987 58 123 120 337 445

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 273 -29 -47 385 430 199 1,200 52 Net flows on debt 42 361 -115 20 283 445 580 282 1,251 78 Net change in interest arrears .. .. 330 -1,558 1 -28 -21 0 0 -1 Interest capitalized .. .. 0 1,349 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -646 -296 -51 -35 -34 -27 -90 Cross-currency valuation .. .. 74 -144 -107 11 8 -42 -29 -16 Residual .. .. -16 950 71 9 -101 -7 5 81

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.9 11.3 5.0 5.8 8.2 6.7 8.5 9.3 8.6 5.4 Maturity (years) 15.0 11.4 8.3 15.6 19.5 13.9 27.1 19.9 11.1 25.0 Grace period (years) 4.0 4.5 4.8 3.9 16.1 6.8 23.0 15.8 9.3 4.5 Grant element (%) 16.9 -4.2 22.6 23.5 11.2 18.5 10.7 1.4 7.5 31.7Official creditors Interest (%) 6.0 6.3 5.0 6.3 7.2 5.7 6.5 5.8 5.2 5.4 Maturity (years) 24.5 15.4 8.3 18.9 20.7 17.1 24.2 22.8 19.7 25.9 Grace period (years) 6.2 5.3 4.8 5.2 5.4 4.6 5.9 4.6 4.8 4.6 Grant element (%) 27.9 21.2 22.6 23.4 17.7 23.8 25.0 29.2 28.8 32.6Private creditors Interest (%) 7.9 15.2 0.0 5.1 8.4 8.0 9.0 10.4 9.1 5.5 Maturity (years) 4.3 8.3 0.0 11.7 19.1 9.7 27.9 19.0 9.9 5.5 Grace period (years) 1.6 4.0 0.0 2.4 18.9 9.6 27.7 19.0 9.9 0.8 Grant element (%) 4.5 -24.0 0.0 23.7 9.5 11.4 6.7 -6.6 4.5 10.8Memorandum items Commitments 111 533 4 277 1,578 832 698 479 1,283 99 Official creditors 59 233 4 151 329 473 151 107 159 95 Private creditors 52 300 0 127 1,248 358 547 372 1,124 4


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 193 153 103 64 30 14 9 4 4 2Principal 383 319 315 616 322 964 301 299 1,049 955Interest 587 522 515 497 479 446 408 396 349 279Official creditors Disbursements 186 150 102 64 30 14 9 4 4 2Principal 142 149 153 152 146 142 131 125 121 111Interest 78 77 74 68 62 55 48 42 36 30 Bilateral creditors Disbursements 3 3 2 1 1 1 1 1 0 0 Principal 15 14 13 11 12 13 12 13 13 13 Interest 6 6 5 5 4 4 4 3 3 3 Multilateral creditors Disbursements 184 148 100 63 29 13 8 3 3 2 Principal 127 135 140 141 134 129 118 113 108 98 Interest 72 72 68 63 57 51 44 38 33 27Private creditors Disbursements 7 3 0 0 0 0 0 0 0 0Principal 242 170 162 463 176 822 170 173 928 844Interest 509 444 441 429 417 391 359 355 314 249 Commercial banks Disbursements 7 3 0 0 0 0 0 0 0 0 Principal 31 24 16 13 12 8 7 7 7 2 Interest 5 4 3 2 2 1 1 1 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 211 146 146 451 164 813 162 167 921 842 Interest 504 441 438 427 416 390 358 354 313 249

404PAPUA NEW GUINEA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 209 719 2,594 2,507 2,590 2,712 2,701 2,596 2,508 2,485Long-term debt (LDOD) 209 624 2,461 2,423 2,388 2,510 2,582 2,508 2,332 2,306Public and publicly guaranteed 36 485 1,523 1,545 1,338 1,430 1,523 1,495 1,400 1,488Private nonguaranteed 173 139 938 878 1,049 1,080 1,059 1,014 932 818Use of IMF credit 0 31 61 51 48 46 22 39 108 116Short-term debt 0 64 72 34 154 157 97 49 68 64of which interest arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: export credits 0 0 223 354 497 96 87 82 57 52

TOTAL DEBT FLOWS Disbursements 154 150 681 549 525 235 81 293 266 60Long-term debt 154 135 623 546 525 235 81 254 194 60IMF purchases 0 15 58 3 0 0 0 38 72 0Principal repayments 20 78 391 389 425 213 149 216 191 208Long-term debt 20 72 388 389 425 209 126 197 190 208IMF repurchases 0 7 3 0 0 4 23 19 1 0Net flows on debt 134 108 197 116 220 25 -127 29 94 -153of which short-term debt 0 36 -93 -44 120 3 -59 -48 19 -5Interest payments (INT) 10 72 162 100 107 98 64 90 78 69Long-term debt 10 52 156 97 100 88 56 85 73 65IMF charges 0 1 0 2 2 2 1 1 3 3Short-term debt 0 19 6 1 4 8 7 4 2 1Net transfers on debt 124 36 35 16 114 -74 -191 -61 15 -222Total debt service paid (TDS) 30 150 553 489 532 312 213 306 270 277Long-term debt 30 123 544 486 525 298 182 282 264 273IMF repurchases and charges 0 7 3 2 2 6 24 20 4 3Short-term debt (interest only) 0 19 6 1 4 8 7 4 2 1


NET RESOURCE FLOWS 278 418 694 463 316 344 347 252 137 0Net flow of long-term debt (ex. IMF) 134 64 235 157 100 26 -45 58 4 -148Foreign direct investment (net) 0 76 155 111 29 110 297 96 63 50Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 144 279 304 195 187 208 95 98 70 99Memo: technical coop. grants 1 13 44 121 110 111 104 144 133 136 official net resource flows 149 313 490 236 182 211 79 206 135 46 private net resource flows 128 105 204 227 134 133 268 45 2 -46

NET TRANSFERS 268 163 381 -4 -33 79 51 -31 -142 -274Interest on long-term debt 10 52 156 97 100 88 56 85 73 65Profit remittances on FDI 0 204 158 370 248 176 239 198 206 210Memo: official net transfers 149 306 450 180 129 164 32 156 89 3 private net transfers 118 -143 -70 -183 -162 -85 19 -188 -232 -277


Gross national income (GNI) 626 2,486 3,098 4,984 4,697 3,591 3,261 3,288 2,805 2,712Exports of goods, serv. & inc. (XGS) .. 1,089 1,487 2,994 2,592 2,112 2,194 2,369 2,118 ..Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 1,561 1,719 2,753 2,752 2,152 2,090 2,013 1,845 ..International reserves (RES) .. 458 427 607 381 211 223 304 440 343Current account balance .. -289 -76 313 -99 47 120 351 286 ..

4. DEBT INDICATORS

EDT / XGS (%) .. 66.0 174.4 83.7 99.9 128.4 123.1 109.6 118.4 ..EDT / GNI (%) 33.4 28.9 83.7 50.3 55.1 75.5 82.8 79.0 89.4 91.6TDS / XGS (%) .. 13.8 37.2 16.3 20.5 14.8 9.7 12.9 12.7 ..INT / XGS (%) .. 6.6 10.9 3.3 4.1 4.7 2.9 3.8 3.7 ..INT / GNI (%) 1.6 2.9 5.2 2.0 2.3 2.7 2.0 2.7 2.8 2.5RES / EDT (%) .. 63.7 16.5 24.2 14.7 7.8 8.3 11.7 17.5 13.8RES / MGS (months) .. 3.5 3.0 2.6 1.7 1.2 1.3 1.8 2.9 ..Short-term / EDT (%) 0.0 8.9 2.8 1.3 5.9 5.8 3.6 1.9 2.7 2.6Concessional / EDT (%) 0.5 11.9 21.5 32.8 29.7 31.6 36.5 34.9 31.5 34.3Multilateral / EDT (%) 0.8 21.2 29.5 34.4 31.0 31.7 34.3 33.4 34.1 36.3

405PAPUA NEW GUINEA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 209 624 2,461 2,423 2,388 2,510 2,582 2,508 2,332 2,306Public and publicly guaranteed 36 485 1,523 1,545 1,338 1,430 1,523 1,495 1,400 1,488Official creditors 4 184 1,074 1,379 1,238 1,347 1,455 1,434 1,335 1,400 Multilateral 2 152 764 861 804 861 925 867 855 902 Concessional 1 79 359 426 395 421 490 441 389 431 Bilateral 2 32 310 518 434 486 530 567 481 497 Concessional 0 7 199 396 374 435 496 465 402 422Private creditors 32 302 449 166 101 83 68 60 65 88 Bonds 0 85 37 0 0 0 0 0 0 0 Commercial banks 32 211 307 124 69 61 53 54 63 88 Other private 0 6 105 42 32 22 15 6 2 0Private nonguaranteed 173 139 938 878 1,049 1,080 1,059 1,014 932 818 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 173 139 938 878 1,049 1,080 1,059 1,014 932 818Memo: IBRD 1 55 235 270 269 267 241 244 275 272 IDA 1 55 115 105 101 100 97 92 88 87



NET FLOWS ON DEBT 134 64 235 157 100 26 -45 58 4 -148Public and publicly guaranteed 43 89 96 -13 -68 -15 -31 103 86 -34Official creditors 5 34 186 41 -5 3 -16 109 65 -52 Multilateral 1 33 145 -16 25 -4 -9 13 61 -23 Concessional 1 19 59 0 5 4 -1 -4 -8 -6 Bilateral 4 1 41 57 -30 7 -8 96 4 -29 Concessional 0 4 26 88 23 16 10 23 6 -18Private creditors 37 55 -91 -54 -64 -18 -14 -5 21 18 Bonds 0 -8 0 0 0 0 0 0 0 0 Commercial banks 37 58 -109 -37 -54 -8 -7 3 23 20 Other private 0 4 18 -18 -10 -10 -7 -9 -2 -2Private nonguaranteed 91 -25 139 170 169 41 -14 -45 -82 -114 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 91 -25 139 170 169 41 -14 -45 -82 -114Memo: IBRD 1 0 50 -9 20 -15 -23 15 40 -14 IDA 1 12 -1 -2 -2 -2 -3 -3 -3 -3

406PAPUA NEW GUINEA



NET TRANSFERS ON DEBT 124 12 79 60 0 -62 -101 -27 -69 -213Public and publicly guaranteed 41 59 10 -87 -132 -69 -83 49 37 -82Official creditors 5 27 146 -15 -58 -44 -63 59 19 -96 Multilateral 1 28 118 -53 -9 -36 -41 -19 33 -49 Concessional 1 19 56 -4 1 0 -5 -8 -12 -10 Bilateral 4 -1 28 38 -50 -9 -22 77 -13 -47 Concessional 0 3 21 77 11 5 -2 7 -6 -30Private creditors 36 32 -137 -72 -74 -25 -20 -10 18 14 Bonds 0 -15 -3 0 0 0 0 0 0 0 Commercial banks 36 43 -145 -47 -61 -12 -12 0 20 16 Other private 0 4 11 -24 -13 -12 -8 -10 -2 -2Private nonguaranteed 83 -47 69 147 132 7 -17 -76 -107 -131 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 83 -47 69 147 132 7 -17 -76 -107 -131Memo: IBRD 1 -4 35 -29 1 -32 -38 -1 27 -25 IDA 1 12 -2 -3 -3 -3 -3 -3 -4 -4


UNDISBURSED DEBT 41 181 527 518 404 266 318 378 353 344Official creditors 41 151 476 489 398 261 315 356 307 321Private creditors 0 30 51 29 6 5 3 22 46 23Memorandum items Concessional LDOD 1 86 558 821 770 856 987 906 791 853 Variable rate LDOD 173 271 1,338 1,214 1,308 1,366 1,350 1,321 1,312 1,208 Public sector LDOD 36 462 1,501 1,545 1,338 1,406 1,505 1,481 1,400 1,488 Private sector LDOD 173 162 960 878 1,049 1,104 1,077 1,027 932 818



407PAPUA NEW GUINEA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 278 2 82 123 -11 -104 -89 -22 Net flows on debt 134 108 197 116 220 25 -127 29 94 -153 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -9 0 0 0 0 0 -1 Cross-currency valuation .. .. 77 -113 -157 91 74 -117 -119 117 Residual .. .. 3 8 19 7 41 -16 -64 15



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


408PARAGUAY


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 14 206 77 246 408 283 616 192 124 268Long-term debt 14 206 77 246 408 283 616 192 124 268IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments 7 79 235 127 179 142 122 204 212 219Long-term debt 7 79 235 127 179 142 122 204 212 219IMF repurchases 0 0 0 0 0 0 0 0 0 0Net flows on debt 7 156 -83 75 1 295 577 -185 -207 67of which short-term debt 0 29 75 -43 -228 154 82 -173 -120 18Interest payments (INT) 3 66 90 120 113 118 127 148 146 108Long-term debt 3 44 77 73 76 84 87 116 128 100IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt 0 22 13 47 37 34 41 33 18 8Net transfers on debt 4 90 -173 -45 -112 178 450 -333 -354 -41Total debt service paid (TDS) 11 145 325 247 292 260 249 353 358 327Long-term debt 11 124 312 200 255 226 208 320 340 319IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0Short-term debt (interest only) 0 22 13 47 37 34 41 33 18 8


NET RESOURCE FLOWS 12 168 -74 289 487 505 622 132 27 45Net flow of long-term debt (ex. IMF) 7 127 -158 119 229 141 495 -13 -88 49Foreign direct investment (net) 4 32 77 149 236 342 95 119 95 -22Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 1 10 7 21 23 22 33 26 20 19Memo: technical coop. grants 7 21 40 54 51 43 52 56 46 48 official net resource flows 5 48 -142 86 167 93 98 113 20 12 private net resource flows 7 120 68 203 320 412 525 19 7 34

NET TRANSFERS 9 70 -168 138 261 243 431 -68 -192 -51Interest on long-term debt 3 44 77 73 76 84 87 116 128 100Profit remittances on FDI 0 54 17 78 150 178 105 84 91 -4Memo: official net transfers 2 31 -199 29 108 27 31 44 -54 -49 private net transfers 6 38 31 109 153 216 401 -111 -138 -2


Gross national income (GNI) 585 4,621 5,381 9,738 9,645 8,604 7,759 7,775 6,808 5,490Exports of goods, serv. & inc. (XGS) .. 693 2,631 4,815 4,402 4,583 3,248 3,244 2,870 3,124Worker remit. & comp. of employees 0 52 34 297 299 286 268 265 264 206Imports of goods & services (MGS) .. 973 2,284 5,213 5,092 4,778 3,441 3,560 3,141 2,847International reserves (RES) 18 783 675 1,062 846 875 988 772 723 641Current account balance .. -277 390 -353 -650 -160 -165 -291 -245 294

4. DEBT INDICATORS


409PARAGUAY


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 112 780 1,732 1,823 1,946 2,125 2,641 2,519 2,359 2,481Public and publicly guaranteed 112 630 1,713 1,415 1,464 1,591 2,083 2,069 1,999 2,064Official creditors 83 409 1,182 1,311 1,372 1,510 1,618 1,612 1,540 1,609 Multilateral 45 193 732 816 885 982 1,085 1,141 1,134 1,158 Concessional 35 97 229 356 386 406 432 409 390 376 Bilateral 37 216 450 495 486 528 533 471 406 451 Concessional 29 195 325 458 452 496 511 455 398 442Private creditors 30 221 531 104 92 80 465 457 459 454 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 105 263 55 47 44 439 435 431 429 Other private 27 116 268 50 45 36 26 23 28 26Private nonguaranteed 0 151 19 408 482 534 558 450 360 417 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 151 19 408 482 534 558 450 360 417Memo: IBRD 6 80 279 138 143 165 182 201 205 216 IDA 18 45 41 34 33 31 30 28 27 25



NET FLOWS ON DEBT 7 127 -158 119 229 141 495 -13 -88 49Public and publicly guaranteed 7 114 -149 42 139 57 453 80 2 -13Official creditors 4 38 -149 65 145 71 64 87 1 -7 Multilateral 3 36 -31 69 107 71 87 105 23 -14 Concessional 2 6 1 24 39 18 8 -4 -17 -18 Bilateral 1 2 -118 -4 38 0 -22 -18 -22 7 Concessional 2 2 -3 7 37 4 -16 -13 -15 7Private creditors 3 76 0 -23 -6 -14 388 -7 2 -6 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 16 -7 -5 -6 -4 396 -4 -3 -3 Other private 2 60 8 -18 0 -10 -8 -3 5 -3Private nonguaranteed 0 13 -9 77 89 84 42 -93 -90 62 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 13 -9 77 89 84 42 -93 -90 62Memo: IBRD 1 29 -24 -6 15 15 19 28 13 -2 IDA 2 3 -1 -1 -1 -1 -1 -1 -1 -1

410PARAGUAY



NET TRANSFERS ON DEBT 4 82 -235 46 153 57 408 -128 -215 -51Public and publicly guaranteed 4 79 -226 -19 76 -12 383 -19 -102 -90Official creditors 1 21 -206 8 85 5 -2 18 -74 -68 Multilateral 1 26 -78 31 66 24 37 53 -35 -66 Concessional 1 5 -2 18 33 10 0 -12 -26 -25 Bilateral 0 -5 -128 -23 19 -20 -39 -36 -39 -2 Concessional 1 -4 -13 -8 20 -13 -30 -30 -31 -1Private creditors 3 57 -20 -27 -9 -17 386 -37 -29 -23 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 4 -10 -7 -8 -6 395 -33 -34 -20 Other private 1 53 -10 -20 -1 -12 -9 -4 5 -3Private nonguaranteed 0 4 -9 64 77 70 25 -109 -113 40 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 4 -9 64 77 70 25 -109 -113 40Memo: IBRD 1 23 -49 -18 5 4 10 17 2 -12 IDA 2 2 -1 -2 -2 -2 -2 -2 -2 -2


UNDISBURSED DEBT 46 567 563 1,041 1,009 913 762 662 661 573Official creditors 41 423 455 1,040 1,009 913 762 662 652 564Private creditors 5 144 107 1 0 0 0 0 9 9Memorandum items Concessional LDOD 64 292 553 813 838 902 943 864 788 818 Variable rate LDOD 0 213 287 582 715 860 1,387 1,351 1,313 1,436 Public sector LDOD 110 628 1,713 1,415 1,464 1,591 2,083 2,069 1,999 2,064 Private sector LDOD 2 152 19 408 482 534 558 450 360 417



411PARAGUAY




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -277 -9 -105 332 600 -293 -278 146 Net flows on debt 7 156 -83 75 1 295 577 -185 -207 67 Net change in interest arrears .. .. 37 2 0 -1 1 1 2 6 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -340 0 0 0 0 0 0 0 Cross-currency valuation .. .. 778 -125 -119 2 -8 -97 -70 75 Residual .. .. -670 39 13 35 30 -13 -3 -2

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 5.7 7.0 3.5 7.0 6.8 7.0 6.7 6.4 4.7 2.4 Maturity (years) 25.0 26.4 34.4 21.4 31.0 91.0 20.0 21.8 20.4 18.3 Grace period (years) 5.5 6.6 10.1 4.0 4.4 2.6 5.0 3.0 5.9 2.6 Grant element (%) 33.1 23.5 53.9 18.8 19.2 19.2 20.9 22.1 35.6 44.6Official creditors Interest (%) 4.9 5.4 3.5 7.0 6.8 7.0 7.0 6.4 4.7 2.4 Maturity (years) 28.6 27.9 34.4 21.4 32.0 91.0 20.0 21.8 20.4 18.3 Grace period (years) 6.3 7.1 10.1 4.0 4.6 2.6 4.5 3.0 5.9 2.6 Grant element (%) 39.1 36.9 53.9 18.8 19.7 19.2 18.7 22.1 35.6 44.6Private creditors Interest (%) 10.1 13.0 0.0 0.0 7.1 0.0 6.7 0.0 0.0 0.0 Maturity (years) 5.3 21.0 0.0 0.0 6.0 0.0 20.0 0.0 0.0 0.0 Grace period (years) 1.4 4.6 0.0 0.0 0.5 0.0 5.0 0.0 0.0 0.0 Grant element (%) -0.2 -25.9 0.0 0.0 7.0 0.0 20.9 0.0 0.0 0.0Memorandum items Commitments 14 99 117 73 252 61 405 125 129 19 Official creditors 12 78 117 73 242 61 5 125 129 19 Private creditors 2 21 0 0 10 0 400 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


412PERU


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 3,211 9,386 20,064 28,988 29,687 30,542 29,217 28,710 27,645 28,167Long-term debt (LDOD) 2,655 6,828 13,959 21,601 22,120 23,356 23,882 24,193 24,212 25,596Public and publicly guaranteed 856 6,218 13,629 20,223 19,225 19,320 19,503 19,255 18,956 20,477Private nonguaranteed 1,799 610 330 1,378 2,896 4,037 4,378 4,938 5,256 5,118Use of IMF credit 10 474 755 924 1,011 905 735 558 387 236Short-term debt 546 2,084 5,350 6,463 6,556 6,281 4,601 3,959 3,047 2,335of which interest arrears on LDOD 0 0 3,733 224 84 59 49 45 55 61 Official creditors 0 0 1,386 138 44 19 20 16 19 22 Private creditors 0 0 2,347 86 39 40 29 29 35 39Memo: principal arrears on LDOD 0 0 8,345 864 94 95 70 68 80 84 Official creditors 0 0 3,215 699 65 63 47 45 54 58 Private creditors 0 0 5,130 166 29 33 24 23 26 26Memo: export credits 0 0 4,632 5,707 5,066 3,280 3,089 3,134 3,013 3,694

TOTAL DEBT FLOWS Disbursements 405 1,452 289 523 3,342 1,657 1,451 2,065 1,719 3,007Long-term debt 387 1,307 289 523 3,121 1,657 1,451 2,065 1,719 3,007IMF purchases 18 145 0 0 221 0 0 0 0 0Principal repayments 360 1,187 229 1,227 2,053 791 1,075 1,129 834 2,134Long-term debt 333 1,019 166 1,227 1,980 646 929 987 681 1,961IMF repurchases 27 168 63 0 74 145 146 141 153 173Net flows on debt 45 775 126 459 1,522 616 -1,294 299 -37 155of which short-term debt 0 510 66 1,164 233 -250 -1,670 -638 -922 -718Interest payments (INT) 162 964 247 1,705 1,406 1,381 1,467 1,431 1,356 1,222Long-term debt 162 670 91 1,308 982 975 1,149 1,171 1,153 1,144IMF charges 0 35 74 41 47 45 33 33 23 10Short-term debt 0 259 82 356 376 362 285 227 180 68Net transfers on debt -117 -189 -121 -1,246 116 -765 -2,760 -1,133 -1,393 -1,068Total debt service paid (TDS) 522 2,151 476 2,932 3,459 2,172 2,542 2,560 2,190 3,356Long-term debt 495 1,689 257 2,535 2,962 1,620 2,078 2,158 1,833 3,105IMF repurchases and charges 27 202 137 41 121 190 179 174 176 183Short-term debt (interest only) 0 259 82 356 376 362 285 227 180 68


NET RESOURCE FLOWS 2 347 344 3,299 3,662 2,549 2,505 2,170 2,427 3,592Net flow of long-term debt (ex. IMF) 54 289 123 -704 1,141 1,011 523 1,078 1,038 1,046Foreign direct investment (net) -70 27 41 3,471 2,139 1,644 1,940 810 1,144 2,391Portfolio equity flows 0 0 0 294 156 -346 -107 123 43 -9Grants (excluding technical coop.) 18 31 180 238 225 240 149 159 202 164Memo: technical coop. grants 13 64 127 125 142 181 210 154 223 236 official net resource flows 54 414 285 0 630 304 632 788 947 461 private net resource flows -52 -67 59 3,299 3,031 2,245 1,873 1,382 1,481 3,131

NET TRANSFERS -160 -580 238 1,315 1,755 1,353 1,337 655 1,144 1,954Interest on long-term debt 162 670 91 1,308 982 975 1,149 1,171 1,153 1,144Profit remittances on FDI 0 256 15 676 925 222 19 344 131 494Memo: official net transfers 37 262 234 -443 49 -444 -267 -127 48 -383 private net transfers -197 -842 4 1,758 1,705 1,797 1,604 782 1,096 2,337


Gross national income (GNI) 7,119 19,700 25,509 54,374 57,852 55,342 50,016 51,636 52,516 55,008Exports of goods, serv. & inc. (XGS) .. 4,832 4,402 8,498 9,733 8,964 9,006 10,009 9,917 10,234Worker remit. & comp. of employees 0 0 87 597 636 647 670 718 753 705Imports of goods & services (MGS) .. 5,080 6,015 12,463 13,445 12,685 10,820 11,848 11,389 11,778International reserves (RES) 339 2,804 1,891 10,990 11,306 9,882 9,050 8,676 8,980 9,721Current account balance .. -101 -1,419 -3,648 -3,428 -3,390 -1,518 -1,557 -1,184 -1,206

4. DEBT INDICATORS


413PERU


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 2,655 6,828 13,959 21,601 22,120 23,356 23,882 24,193 24,212 25,596Public and publicly guaranteed 856 6,218 13,629 20,223 19,225 19,320 19,503 19,255 18,956 20,477Official creditors 373 3,123 6,594 14,685 14,567 14,709 14,431 14,414 14,805 15,656 Multilateral 148 513 2,199 3,562 4,240 4,644 5,306 5,533 6,291 6,829 Concessional 0 36 185 138 124 112 129 92 83 77 Bilateral 225 2,609 4,395 11,123 10,328 10,065 9,125 8,881 8,514 8,827 Concessional 112 1,318 1,674 5,318 5,099 3,566 3,720 3,854 3,627 3,939Private creditors 483 3,095 7,035 5,538 4,657 4,610 5,072 4,841 4,151 4,821 Bonds 22 2 1 4,873 4,130 4,130 3,727 3,727 3,727 4,424 Commercial banks 148 1,694 3,159 122 98 74 224 110 105 98 Other private 314 1,399 3,876 543 429 406 1,120 1,004 318 299Private nonguaranteed 1,799 610 330 1,378 2,896 4,037 4,378 4,938 5,256 5,118 Bonds 0 0 0 60 0 150 150 150 150 150 Commercial banks and other 1,799 610 330 1,318 2,896 3,887 4,228 4,788 5,106 4,968Memo: IBRD 125 359 1,188 1,633 1,920 2,128 2,417 2,590 2,625 2,609 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS 387 1,307 289 523 3,121 1,657 1,451 2,065 1,719 3,007Public and publicly guaranteed 148 1,247 289 373 1,517 639 1,090 1,488 1,385 2,933Official creditors 59 664 187 369 1,460 639 1,066 1,454 1,385 1,010 Multilateral 18 209 38 264 1,126 560 887 813 1,110 809 Concessional 0 10 10 5 3 3 6 6 6 4 Bilateral 41 454 149 105 334 79 178 640 275 201 Concessional 8 232 112 97 214 74 162 558 170 171Private creditors 88 584 103 4 58 0 25 35 0 1,923 Bonds 0 0 0 0 0 0 0 0 0 1,923 Commercial banks 3 248 69 0 0 0 21 34 0 0 Other private 85 336 34 4 58 0 3 1 0 0Private nonguaranteed 240 60 0 150 1,604 1,018 361 577 334 74 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 240 60 0 150 1,604 1,018 361 577 334 74Memo: IBRD 10 140 0 108 490 271 380 266 149 146 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 333 1,019 166 1,227 1,980 646 929 987 681 1,961Public and publicly guaranteed 100 959 112 1,167 1,894 619 909 970 665 1,944Official creditors 23 281 81 608 1,054 574 583 825 641 713 Multilateral 11 24 24 194 230 227 245 495 296 355 Concessional 0 0 3 16 16 16 16 13 14 11 Bilateral 12 257 57 413 825 348 338 330 345 358 Concessional 3 48 5 45 89 96 153 99 152 169Private creditors 77 678 31 559 839 45 326 144 24 1,231 Bonds 7 0 0 0 742 0 255 0 0 1,204 Commercial banks 25 445 9 540 24 24 50 130 5 7 Other private 46 233 22 19 73 21 21 15 19 20Private nonguaranteed 233 60 54 60 86 27 19 17 16 17 Bonds 0 0 0 0 60 0 0 0 0 0 Commercial banks and other 233 60 54 60 26 27 19 17 16 17Memo: IBRD 8 15 0 79 65 64 89 93 114 163 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT 54 289 123 -704 1,141 1,011 523 1,078 1,038 1,046Public and publicly guaranteed 48 289 177 -794 -376 20 181 518 720 989Official creditors 36 383 106 -239 406 65 483 628 744 297 Multilateral 7 185 14 70 896 333 642 318 815 454 Concessional 0 10 7 -11 -13 -13 -10 -7 -8 -7 Bilateral 29 198 92 -308 -491 -269 -160 310 -71 -157 Concessional 5 184 107 52 125 -22 9 459 19 2Private creditors 11 -94 72 -556 -782 -44 -302 -110 -24 692 Bonds -7 0 0 0 -742 0 -255 0 0 719 Commercial banks -22 -197 60 -540 -24 -24 -29 -96 -5 -7 Other private 40 103 12 -16 -15 -20 -17 -14 -19 -20Private nonguaranteed 7 0 -54 90 1,518 991 342 560 318 57 Bonds 0 0 0 0 -60 0 0 0 0 0 Commercial banks and other 7 0 -54 90 1,578 991 342 560 318 57Memo: IBRD 2 125 0 29 425 207 291 173 35 -17 IDA 0 0 0 0 0 0 0 0 0 0

414PERU


INTEREST PAYMENTS (LINT) 162 670 91 1,308 982 975 1,149 1,171 1,153 1,144Public and publicly guaranteed 43 547 66 1,218 927 923 1,085 1,102 1,075 1,075Official creditors 17 151 51 443 581 748 898 915 899 844 Multilateral 8 33 27 252 270 285 334 383 408 372 Concessional 0 1 3 5 4 3 3 3 3 2 Bilateral 9 118 24 191 311 463 564 532 491 472 Concessional 3 27 7 72 75 163 140 155 141 137Private creditors 26 395 15 776 346 175 186 187 176 230 Bonds 1 0 0 0 318 159 171 179 160 196 Commercial banks 12 273 8 771 10 8 7 5 10 10 Other private 13 122 7 5 18 7 9 4 5 25Private nonguaranteed 119 124 25 89 55 52 65 69 78 70 Bonds 0 0 0 6 4 0 11 11 11 11 Commercial banks and other 119 124 25 83 51 52 53 58 67 59Memo: IBRD 7 24 0 116 117 120 155 189 186 141 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT -108 -382 32 -2,012 159 37 -627 -93 -115 -98Public and publicly guaranteed 4 -258 111 -2,013 -1,303 -902 -904 -584 -355 -85Official creditors 20 231 54 -681 -175 -684 -416 -286 -154 -547 Multilateral -1 152 -13 -182 626 48 308 -65 407 82 Concessional 0 9 4 -16 -17 -17 -13 -10 -10 -9 Bilateral 21 80 68 -499 -801 -732 -724 -221 -562 -629 Concessional 2 157 100 -20 49 -184 -131 304 -123 -135Private creditors -15 -489 57 -1,331 -1,128 -219 -488 -297 -200 462 Bonds -8 0 0 0 -1,060 -159 -426 -179 -160 524 Commercial banks -34 -470 52 -1,311 -34 -32 -36 -101 -15 -17 Other private 26 -19 5 -20 -33 -28 -27 -17 -24 -45Private nonguaranteed -112 -124 -79 1 1,462 939 277 490 240 -13 Bonds 0 0 0 -6 -64 0 -11 -11 -11 -11 Commercial banks and other -112 -124 -79 7 1,527 939 288 502 251 -2Memo: IBRD -5 101 0 -87 308 87 136 -16 -151 -158 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) 495 1,689 257 2,535 2,962 1,620 2,078 2,158 1,833 3,105Public and publicly guaranteed 144 1,506 178 2,385 2,820 1,542 1,994 2,072 1,740 3,018Official creditors 40 432 132 1,050 1,635 1,322 1,481 1,740 1,539 1,557 Multilateral 19 58 51 446 500 512 579 878 703 728 Concessional 0 1 6 21 20 20 19 16 17 14 Bilateral 21 375 81 604 1,135 811 902 862 836 830 Concessional 5 75 13 117 164 258 293 254 293 306Private creditors 104 1,073 46 1,335 1,185 219 513 332 200 1,461 Bonds 8 1 0 0 1,060 159 426 179 160 1,399 Commercial banks 37 718 17 1,311 34 32 57 135 15 17 Other private 59 355 29 24 90 28 30 18 24 45Private nonguaranteed 352 184 79 149 141 79 84 87 94 87 Bonds 0 0 0 6 64 0 11 11 11 11 Commercial banks and other 352 184 79 143 77 79 73 75 83 76Memo: IBRD 15 38 0 195 182 184 244 281 300 304 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT 238 2,397 1,509 3,057 2,688 2,147 3,920 3,205 2,606 2,620Official creditors 166 1,126 863 3,049 2,687 2,147 3,920 3,205 2,606 2,620Private creditors 72 1,272 646 8 1 0 0 0 0 0Memorandum items Concessional LDOD 112 1,353 1,859 5,457 5,223 3,678 3,849 3,946 3,711 4,016 Variable rate LDOD 1,799 2,130 4,626 11,882 13,370 12,618 13,915 15,054 15,469 14,679 Public sector LDOD 840 6,200 13,584 20,223 19,225 17,921 18,163 17,984 17,749 19,340 Private sector LDOD 1,816 628 376 1,378 2,896 5,435 5,719 6,209 6,463 6,256



415PERU



Total amount rescheduled .. .. 0 5,732 806 4,682 0 1 0 0 Debt stock rescheduled .. .. 0 2,489 0 4,415 6 0 0 0 Principal rescheduled .. .. 0 430 329 30 0 0 0 0 Official .. .. 0 338 235 27 0 0 0 0 Private .. .. 0 91 94 3 0 0 0 0 Interest rescheduled .. .. 0 2,813 477 243 0 0 0 0 Official .. .. 0 498 393 242 0 0 0 0 Private .. .. 0 2,315 84 1 0 0 0 0Debt forgiven .. .. 0 32 3 116 26 0 0 8 Memo: interest forgiven .. .. 0 758 1 1 1 0 0 1Debt stock reduction .. .. 0 2,150 0 0 403 0 0 1,204 of which debt buyback .. .. 0 944 0 0 255 0 0 1,204

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,482 -1,871 699 855 -1,325 -507 -1,065 522 Net flows on debt 45 775 126 459 1,522 616 -1,294 299 -37 155 Net change in interest arrears .. .. 460 -4,385 -141 -24 -10 -4 9 6 Interest capitalized .. .. 0 2,813 477 243 0 0 0 0 Debt forgiveness or reduction .. .. 0 -1,238 -3 -116 -174 0 0 -8 Cross-currency valuation .. .. 642 -972 -1,199 318 -368 -517 -276 610 Residual .. .. 254 1,452 42 -181 521 -285 -762 -241

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 7.4 9.4 6.7 4.5 5.7 6.7 3.8 5.8 6.5 7.9 Maturity (years) 13.3 12.3 8.5 22.9 19.6 20.4 17.4 22.1 16.6 11.8 Grace period (years) 4.3 3.5 2.1 6.5 5.4 4.5 4.9 5.0 4.1 7.7 Grant element (%) 11.8 5.5 13.1 39.7 28.5 20.8 38.1 30.8 20.8 11.8Official creditors Interest (%) 7.2 7.5 7.1 4.5 5.7 6.7 3.8 5.8 6.5 5.2 Maturity (years) 13.8 15.5 9.1 22.9 20.2 20.4 17.4 22.1 16.6 18.1 Grace period (years) 4.5 4.3 2.4 6.5 5.5 4.5 4.9 5.0 4.1 4.6 Grant element (%) 12.6 18.8 14.0 39.7 29.2 20.8 38.1 30.9 20.8 29.6Private creditors Interest (%) 8.7 10.7 5.5 0.0 6.0 0.0 8.3 9.0 0.0 9.1 Maturity (years) 9.2 10.3 6.7 0.0 4.0 0.0 5.0 5.0 0.0 9.0 Grace period (years) 2.0 3.0 1.3 0.0 1.0 0.0 0.1 0.1 0.0 9.0 Grant element (%) 4.8 -3.2 10.5 0.0 8.0 0.0 3.5 1.7 0.0 3.7Memorandum items Commitments 125 1,613 179 1,797 1,539 70 2,687 1,263 1,245 2,790 Official creditors 112 643 137 1,797 1,489 70 2,686 1,259 1,245 867 Private creditors 13 971 43 0 50 0 1 4 0 1,923


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 899 737 454 269 148 70 29 6 3 2Principal 1,597 1,767 1,835 1,904 2,025 2,730 2,135 2,056 2,112 3,003Interest 1,375 1,331 1,268 1,197 1,157 1,106 947 840 738 576Official creditors Disbursements 899 737 454 269 148 70 29 6 3 2Principal 972 1,123 1,169 1,239 1,338 1,392 1,442 1,353 1,363 1,364Interest 837 806 764 714 656 589 518 443 371 297 Bilateral creditors Disbursements 576 465 285 158 80 41 15 0 0 0 Principal 493 553 587 655 723 762 818 737 773 815 Interest 477 462 442 417 387 352 312 269 228 184 Multilateral creditors Disbursements 323 273 169 111 68 29 14 6 3 2 Principal 479 570 582 584 614 630 625 615 590 549 Interest 360 344 321 296 269 238 206 174 142 112Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0Principal 624 644 665 665 688 1,338 693 704 749 1,639Interest 537 525 504 484 502 517 430 397 368 279 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 9 9 8 7 7 7 7 7 7 7 Interest 9 8 7 7 6 5 5 4 3 3 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 615 634 657 657 680 1,330 686 696 742 1,632 Interest 529 517 497 477 496 511 425 393 364 276

416PHILIPPINES


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 2,196 17,417 30,580 44,022 50,727 53,509 58,044 57,429 57,822 59,342Long-term debt (LDOD) 1,544 8,817 25,241 35,647 38,078 44,755 50,477 49,449 49,821 52,098Public and publicly guaranteed 625 6,363 24,040 27,093 26,416 28,902 34,800 30,407 29,416 32,967Private nonguaranteed 919 2,454 1,201 8,554 11,662 15,853 15,677 19,042 20,405 19,131Use of IMF credit 69 1,044 912 405 855 1,568 1,822 2,032 1,952 1,686Short-term debt 583 7,556 4,427 7,969 11,794 7,185 5,745 5,948 6,049 5,558of which interest arrears on LDOD 0 0 52 0 0 0 0 0 0 0 Official creditors 0 0 4 0 0 0 0 0 0 0 Private creditors 0 0 48 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 182 0 0 1 1 1 1 1 Official creditors 0 0 13 0 0 0 0 0 0 0 Private creditors 0 0 169 0 0 1 1 1 1 1Memo: export credits 0 0 4,366 8,186 9,751 4,076 3,833 3,842 3,497 3,278

TOTAL DEBT FLOWS Disbursements 446 2,300 2,516 5,021 6,069 3,986 8,580 4,609 8,462 7,811Long-term debt 418 1,854 2,516 5,021 5,369 3,255 8,234 4,296 8,462 7,811IMF purchases 28 446 0 0 700 730 346 313 0 0Principal repayments 264 686 1,818 3,192 2,340 2,443 4,004 4,057 5,830 6,220Long-term debt 261 541 1,473 2,890 2,124 2,364 3,950 4,049 5,822 5,815IMF repurchases 3 145 345 301 216 79 54 8 8 405Net flows on debt 182 3,855 1,123 4,520 7,553 -3,066 3,136 755 2,733 1,099of which short-term debt 0 2,241 425 2,690 3,825 -4,609 -1,440 203 101 -491Interest payments (INT) 44 1,496 1,772 2,180 2,215 2,300 2,438 2,737 3,206 2,972Long-term debt 44 579 1,573 1,674 1,716 1,964 2,050 2,409 2,900 2,809IMF charges 0 42 99 27 24 49 65 94 92 54Short-term debt 0 875 100 478 474 287 323 234 214 108Net transfers on debt 138 2,358 -649 2,340 5,339 -5,365 698 -1,982 -474 -1,872Total debt service paid (TDS) 308 2,182 3,590 5,371 4,555 4,742 6,442 6,794 9,036 9,192Long-term debt 305 1,120 3,046 4,564 3,840 4,327 6,000 6,458 8,722 8,624IMF repurchases and charges 3 187 444 329 240 127 119 102 100 459Short-term debt (interest only) 0 875 100 478 474 287 323 234 214 108


NET RESOURCE FLOWS 155 1,266 1,935 5,996 4,262 3,641 7,595 1,567 4,181 3,694Net flow of long-term debt (ex. IMF) 157 1,313 1,043 2,131 3,245 892 4,284 247 2,640 1,996Foreign direct investment (net) -25 -106 530 1,517 1,222 2,287 1,725 1,345 982 1,111Portfolio equity flows 0 0 0 2,101 -406 264 1,410 -183 383 410Grants (excluding technical coop.) 23 59 362 247 202 198 176 158 177 178Memo: technical coop. grants 16 64 243 278 246 230 256 226 207 195 official net resource flows 83 426 1,296 212 293 218 88 160 -69 146 private net resource flows 72 840 639 5,784 3,969 3,422 7,507 1,407 4,250 3,548

NET TRANSFERS 111 489 51 3,808 2,096 1,263 4,916 -1,021 663 75Interest on long-term debt 44 579 1,573 1,674 1,716 1,964 2,050 2,409 2,900 2,809Profit remittances on FDI 0 198 311 514 450 414 629 179 618 810Memo: official net transfers 72 286 547 -866 -656 -636 -806 -682 -799 -549 private net transfers 39 203 -496 4,674 2,752 1,899 5,722 -339 1,463 623


Gross national income (GNI) 6,576 32,436 44,092 86,258 85,847 68,524 80,231 79,129 75,566 83,138Exports of goods, serv. & inc. (XGS) .. 8,202 13,290 40,118 49,120 43,617 47,198 49,196 41,667 45,562Worker remit. & comp. of employees 0 626 1,465 4,875 6,799 5,130 6,896 6,175 6,155 7,363Imports of goods & services (MGS) .. 10,348 16,437 44,091 53,494 42,302 40,389 43,250 40,667 41,676International reserves (RES) 255 3,978 2,036 11,747 8,714 10,789 15,029 15,035 15,649 16,136Current account balance .. -1,904 -2,695 -3,953 -4,351 1,546 7,219 6,258 1,323 4,197

4. DEBT INDICATORS


417PHILIPPINES


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 1,544 8,817 25,241 35,647 38,078 44,755 50,477 49,449 49,821 52,098Public and publicly guaranteed 625 6,363 24,040 27,093 26,416 28,902 34,800 30,407 29,416 32,967Official creditors 272 2,636 15,302 20,595 18,814 20,587 21,799 19,958 17,874 19,309 Multilateral 120 1,310 6,273 7,930 7,323 7,974 7,814 7,190 6,690 6,944 Concessional 0 60 457 974 949 1,047 1,109 1,058 1,004 1,083 Bilateral 152 1,326 9,029 12,665 11,491 12,613 13,985 12,768 11,184 12,364 Concessional 68 894 5,650 9,473 9,130 10,472 12,369 11,543 10,184 11,412Private creditors 353 3,727 8,739 6,498 7,603 8,315 13,001 10,449 11,543 13,659 Bonds 11 888 825 5,449 6,228 6,357 10,008 7,561 9,718 10,740 Commercial banks 267 2,256 6,660 421 829 1,530 2,610 2,534 1,531 2,633 Other private 75 583 1,253 627 546 428 384 355 294 286Private nonguaranteed 919 2,454 1,201 8,554 11,662 15,853 15,677 19,042 20,405 19,131 Bonds 0 0 0 3,499 5,274 5,366 6,137 5,690 3,824 3,537 Commercial banks and other 919 2,454 1,201 5,056 6,388 10,487 9,540 13,352 16,581 15,594Memo: IBRD 119 926 3,943 4,666 4,179 4,311 4,040 3,627 3,250 3,325 IDA 0 34 101 193 195 205 206 207 204 208

DISBURSEMENTS 418 1,854 2,516 5,021 5,369 3,255 8,234 4,296 8,462 7,811Public and publicly guaranteed 142 1,382 2,225 3,243 3,192 2,745 7,439 3,777 4,820 6,165Official creditors 74 461 1,373 1,594 1,823 1,449 1,613 1,575 1,052 1,404 Multilateral 17 321 854 728 620 652 315 386 460 401 Concessional 0 9 121 70 61 37 36 43 55 16 Bilateral 57 140 519 866 1,202 797 1,298 1,189 591 1,003 Concessional 15 102 462 790 1,181 785 1,282 1,127 576 976Private creditors 68 920 852 1,649 1,370 1,297 5,826 2,201 3,768 4,761 Bonds 0 96 575 1,618 866 500 4,550 1,631 2,550 3,742 Commercial banks 51 657 167 13 453 772 1,275 500 1,215 952 Other private 16 167 110 18 52 24 2 71 4 68Private nonguaranteed 276 472 291 1,778 2,176 510 795 519 3,642 1,645 Bonds 0 0 0 1,778 1,793 90 795 5 587 698 Commercial banks and other 276 472 291 0 383 420 0 514 3,055 947Memo: IBRD 16 229 506 442 295 292 157 152 114 178 IDA 0 2 0 15 9 9 6 10 6 0

PRINCIPAL REPAYMENTS 261 541 1,473 2,890 2,124 2,364 3,950 4,049 5,822 5,815Public and publicly guaranteed 75 221 1,411 2,596 1,883 2,114 3,170 2,516 3,513 3,542Official creditors 15 95 439 1,629 1,731 1,428 1,701 1,574 1,297 1,436 Multilateral 5 45 388 608 586 566 591 561 525 570 Concessional 0 1 6 7 7 8 13 15 21 24 Bilateral 9 49 51 1,021 1,145 863 1,111 1,012 772 866 Concessional 3 24 21 498 552 474 562 671 612 707Private creditors 61 126 972 967 152 685 1,469 943 2,216 2,106 Bonds 1 16 180 798 28 439 1,115 395 741 1,902 Commercial banks 41 43 743 36 33 82 280 476 1,428 106 Other private 19 67 49 133 91 164 74 72 47 98Private nonguaranteed 186 320 62 294 241 250 780 1,533 2,309 2,273 Bonds 0 0 0 100 0 0 20 445 605 999 Commercial banks and other 186 320 62 194 241 250 760 1,088 1,704 1,274Memo: IBRD 5 33 301 425 407 387 384 349 308 322 IDA 0 0 1 2 2 2 3 3 4 5

NET FLOWS ON DEBT 157 1,313 1,043 2,131 3,245 892 4,284 247 2,640 1,996Public and publicly guaranteed 67 1,161 814 647 1,309 632 4,269 1,261 1,307 2,623Official creditors 60 367 934 -35 92 20 -88 2 -246 -32 Multilateral 12 276 466 120 34 86 -276 -175 -65 -169 Concessional 0 8 115 63 54 28 23 28 34 -8 Bilateral 48 91 468 -155 57 -66 188 177 -181 138 Concessional 12 78 441 292 629 311 721 457 -37 270Private creditors 7 794 -120 682 1,217 612 4,357 1,259 1,552 2,655 Bonds -1 80 395 820 838 61 3,435 1,236 1,808 1,840 Commercial banks 11 614 -576 -22 419 691 994 24 -213 846 Other private -3 100 61 -115 -40 -140 -72 -2 -43 -31Private nonguaranteed 90 152 229 1,484 1,935 260 15 -1,014 1,333 -628 Bonds 0 0 0 1,678 1,793 90 775 -440 -18 -300 Commercial banks and other 90 152 229 -194 142 170 -760 -574 1,351 -327Memo: IBRD 11 195 206 18 -112 -95 -227 -197 -194 -144 IDA 0 2 -1 13 8 6 3 7 2 -5

418PHILIPPINES


INTEREST PAYMENTS (LINT) 44 579 1,573 1,674 1,716 1,964 2,050 2,409 2,900 2,809Public and publicly guaranteed 26 375 1,486 1,443 1,397 1,476 1,637 1,823 1,961 2,040Official creditors 11 140 749 1,078 950 854 894 842 731 694 Multilateral 7 100 444 537 485 443 447 414 361 329 Concessional 0 1 4 10 9 9 10 10 10 10 Bilateral 4 40 305 541 465 411 447 429 369 365 Concessional 2 21 125 302 291 280 333 348 306 301Private creditors 15 235 737 365 447 622 743 980 1,230 1,346 Bonds 1 36 31 300 397 505 650 827 1,013 1,169 Commercial banks 11 165 671 24 23 93 73 139 201 163 Other private 3 34 35 41 28 24 20 15 16 14Private nonguaranteed 19 204 87 231 319 487 413 586 939 769 Bonds 0 0 0 154 257 386 387 479 397 323 Commercial banks and other 19 204 87 77 62 101 26 108 543 446Memo: IBRD 7 73 296 341 302 266 256 223 183 158 IDA 0 0 1 1 1 1 2 2 2 2

NET TRANSFERS ON DEBT 113 733 -529 457 1,528 -1,072 2,234 -2,163 -260 -814Public and publicly guaranteed 41 785 -672 -796 -88 -845 2,632 -562 -654 583Official creditors 49 227 185 -1,113 -858 -834 -982 -841 -976 -726 Multilateral 5 176 22 -417 -451 -357 -723 -589 -426 -499 Concessional 0 8 111 53 45 19 12 17 24 -18 Bilateral 43 51 163 -696 -407 -477 -259 -252 -550 -227 Concessional 9 57 316 -10 338 31 388 108 -342 -31Private creditors -7 559 -857 317 770 -11 3,615 278 322 1,309 Bonds -2 44 364 519 441 -444 2,785 409 795 671 Commercial banks 0 448 -1,247 -46 397 597 922 -114 -414 683 Other private -5 66 25 -156 -67 -164 -92 -17 -60 -44Private nonguaranteed 71 -52 142 1,253 1,617 -228 -398 -1,601 394 -1,396 Bonds 0 0 0 1,524 1,536 -296 388 -919 -414 -623 Commercial banks and other 71 -52 142 -271 80 69 -786 -682 808 -773Memo: IBRD 4 123 -90 -324 -414 -361 -483 -421 -377 -301 IDA 0 1 -2 12 6 5 2 6 0 -7

DEBT SERVICE (LTDS) 305 1,120 3,046 4,564 3,840 4,327 6,000 6,458 8,722 8,624Public and publicly guaranteed 101 596 2,896 4,039 3,280 3,590 4,807 4,339 5,474 5,583Official creditors 26 235 1,188 2,707 2,681 2,282 2,595 2,416 2,028 2,130 Multilateral 12 145 832 1,145 1,071 1,008 1,038 975 887 900 Concessional 0 1 10 16 16 18 23 26 31 34 Bilateral 14 90 356 1,562 1,610 1,274 1,557 1,441 1,141 1,230 Concessional 6 44 146 800 843 754 894 1,019 918 1,007Private creditors 75 362 1,709 1,332 600 1,307 2,211 1,923 3,446 3,453 Bonds 2 52 211 1,099 425 944 1,765 1,222 1,754 3,071 Commercial banks 52 209 1,414 60 56 175 353 614 1,628 269 Other private 22 101 85 174 119 189 94 87 63 112Private nonguaranteed 204 524 149 525 560 737 1,193 2,119 3,248 3,042 Bonds 0 0 0 254 257 386 407 924 1,001 1,321 Commercial banks and other 204 524 149 271 303 351 786 1,196 2,247 1,720Memo: IBRD 12 106 597 766 709 654 641 572 491 480 IDA 0 0 2 3 3 4 4 5 5 7

UNDISBURSED DEBT 193 4,365 6,590 8,171 7,178 9,382 31,707 10,394 9,468 9,391Official creditors 176 3,246 6,156 7,856 6,948 9,078 31,288 9,907 8,818 8,850Private creditors 16 1,119 434 315 230 304 419 487 650 541Memorandum items Concessional LDOD 68 954 6,106 10,448 10,079 11,519 13,478 12,601 11,188 12,495 Variable rate LDOD 924 4,399 11,066 16,504 19,979 25,503 26,475 29,156 29,923 28,915 Public sector LDOD 624 6,363 23,668 26,954 26,287 28,834 34,727 30,337 29,347 32,895 Private sector LDOD 920 2,454 1,573 8,693 11,791 15,921 15,749 19,112 20,475 19,203



419PHILIPPINES



Total amount rescheduled .. .. 1,068 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 848 0 0 0 0 0 0 0 Official .. .. 172 0 0 0 0 0 0 0 Private .. .. 676 0 0 0 0 0 0 0 Interest rescheduled .. .. 186 0 0 0 0 0 0 0 Official .. .. 107 0 0 0 0 0 0 0 Private .. .. 80 0 0 0 0 0 0 0Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0Debt stock reduction .. .. 1,803 0 0 0 1,003 0 0 0 of which debt buyback .. .. 721 0 0 0 859 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,927 4,640 6,706 2,781 4,535 -615 394 1,520 Net flows on debt 182 3,855 1,123 4,520 7,553 -3,066 3,136 755 2,733 1,099 Net change in interest arrears .. .. 48 0 0 0 0 0 0 0 Interest capitalized .. .. 186 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -1,082 0 0 0 -144 0 0 0 Cross-currency valuation .. .. 1,542 -2,267 -2,102 1,702 1,253 -2,212 -2,247 2,016 Residual .. .. 111 2,387 1,254 4,146 290 842 -93 -1,595

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 7.3 9.9 6.2 6.2 4.7 5.5 6.0 5.7 5.2 6.3 Maturity (years) 11.1 17.5 21.9 17.3 21.3 19.0 18.9 15.9 10.4 12.8 Grace period (years) 1.9 5.3 7.4 9.4 10.2 6.5 10.6 6.7 4.9 9.1 Grant element (%) 11.6 4.1 28.2 24.4 34.2 31.8 27.5 28.5 25.2 23.3Official creditors Interest (%) 6.8 6.9 5.1 4.9 3.7 4.3 2.2 3.3 1.8 1.7 Maturity (years) 14.0 22.3 24.4 21.0 26.4 24.6 27.4 28.2 26.2 29.6 Grace period (years) 1.9 6.3 7.3 6.2 7.7 6.9 7.3 7.3 7.6 9.0 Grant element (%) 15.0 22.1 36.8 34.7 48.4 42.6 58.9 51.3 59.9 65.7Private creditors Interest (%) 8.1 13.5 9.2 7.4 6.0 8.0 8.3 7.4 6.5 7.3 Maturity (years) 6.7 11.8 15.1 13.9 14.4 6.3 13.5 7.4 4.7 9.4 Grace period (years) 2.0 4.1 7.6 12.5 13.5 5.5 12.7 6.3 3.9 9.2 Grant element (%) 6.4 -17.3 4.1 14.6 15.2 7.1 7.5 12.8 12.7 14.6Memorandum items Commitments 164 2,143 3,520 3,631 3,030 4,585 8,118 3,848 5,391 5,753 Official creditors 100 1,164 2,588 1,766 1,729 3,184 3,160 1,573 1,428 980 Private creditors 64 979 932 1,865 1,301 1,401 4,958 2,275 3,963 4,773


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 4,278 2,571 1,617 980 560 278 153 31 13 9Principal 6,271 5,717 6,056 4,941 4,556 3,335 4,917 3,146 2,594 2,420Interest 4,370 3,796 3,328 2,782 2,368 1,974 1,639 1,308 1,539 1,461Official creditors Disbursements 2,812 2,432 1,580 977 560 278 153 31 13 9Principal 1,857 1,801 1,853 1,902 1,768 1,677 1,692 1,494 1,433 1,326Interest 704 685 656 609 549 493 437 379 332 288 Bilateral creditors Disbursements 2,301 1,958 1,205 704 371 174 79 6 4 1 Principal 1,074 1,080 1,133 1,183 1,092 992 962 929 928 859 Interest 385 388 378 355 324 297 271 245 221 198 Multilateral creditors Disbursements 511 474 375 273 189 104 74 25 9 8 Principal 782 722 720 718 677 685 730 564 504 467 Interest 319 296 278 254 225 196 167 134 110 89Private creditors Disbursements 361 139 37 3 0 0 0 0 0 0Principal 4,414 3,916 4,203 3,039 2,788 1,658 3,224 1,653 1,161 1,094Interest 3,665 3,111 2,672 2,173 1,818 1,481 1,201 929 1,207 1,173 Commercial banks Disbursements 285 110 36 3 0 0 0 0 0 0 Principal 328 312 236 111 752 76 754 82 80 78 Interest 87 76 68 62 59 35 24 14 12 10 Other private Disbursements 76 29 2 0 0 0 0 0 0 0 Principal 4,086 3,603 3,966 2,928 2,036 1,582 2,470 1,571 1,081 1,016 Interest 3,579 3,035 2,604 2,110 1,759 1,446 1,177 915 1,195 1,163

420POLAND


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 49,364 43,473 40,401 55,494 60,671 63,259 63,275 69,521Long-term debt (LDOD) .. .. 39,261 40,810 36,589 49,303 54,635 56,175 56,309 60,637Public and publicly guaranteed .. .. 39,261 39,208 34,177 35,136 33,151 30,784 25,709 29,374Private nonguaranteed .. .. 0 1,602 2,412 14,167 21,484 25,390 30,599 31,263Use of IMF credit .. .. 509 0 0 0 0 0 0 0Short-term debt .. .. 9,595 2,663 3,812 6,191 6,037 7,084 6,966 8,884of which interest arrears on LDOD .. .. 8,315 0 0 0 93 118 0 0 Official creditors .. .. 6,568 0 0 0 0 0 0 0 Private creditors .. .. 1,747 0 0 0 93 118 0 0Memo: principal arrears on LDOD .. .. 5,670 29 29 3 3 3 3 2 Official creditors .. .. 4,284 25 25 0 0 0 0 0 Private creditors .. .. 1,386 4 4 3 3 3 3 2Memo: export credits .. .. 28,076 19,330 16,058 14,956 13,222 12,456 11,227 12,095

TOTAL DEBT FLOWS Disbursements .. .. 1,025 1,475 2,394 4,742 8,233 10,174 13,607 11,685Long-term debt .. .. 540 1,475 2,394 4,742 8,233 10,174 13,607 11,685IMF purchases .. .. 485 0 0 0 0 0 0 0Principal repayments .. .. 635 1,114 1,085 2,910 6,244 7,674 12,609 10,978Long-term debt .. .. 635 1,114 1,085 2,910 6,244 7,674 12,609 10,978IMF repurchases .. .. 0 0 0 0 0 0 0 0Net flows on debt .. .. 423 982 2,459 4,210 1,741 3,522 999 1,155of which short-term debt .. .. 33 621 1,149 2,379 -247 1,023 0 448Interest payments (INT) .. .. 332 1,566 1,477 1,624 2,130 2,559 2,773 2,511Long-term debt .. .. 203 1,433 1,286 1,374 1,802 2,223 2,453 2,263IMF charges .. .. 23 0 0 0 0 0 0 0Short-term debt .. .. 105 133 191 250 328 336 320 247Net transfers on debt .. .. 91 -584 982 2,586 -388 963 -1,775 -1,356Total debt service paid (TDS) .. .. 966 2,680 2,562 4,534 8,374 10,233 15,382 13,489Long-term debt .. .. 838 2,547 2,371 4,284 8,046 9,898 15,061 13,242IMF repurchases and charges .. .. 23 0 0 0 0 0 0 0Short-term debt (interest only) .. .. 105 133 191 250 328 336 320 247


NET RESOURCE FLOWS .. .. 20 6,564 7,469 10,482 9,963 12,962 7,129 4,826Net flow of long-term debt (ex. IMF) .. .. -95 361 1,310 1,832 1,988 2,500 999 707Foreign direct investment (net) .. .. 89 4,498 4,908 6,365 7,270 9,341 5,713 4,131Portfolio equity flows .. .. 0 749 599 1,734 14 447 -307 -830Grants (excluding technical coop.) .. .. 26 956 652 551 690 674 724 818Memo: technical coop. grants .. .. 0 147 145 215 138 110 76 76 official net resource flows .. .. -51 1,204 512 64 247 219 -3,406 -249 private net resource flows .. .. 71 5,360 6,957 10,418 9,715 12,743 10,535 5,075

NET TRANSFERS .. .. -202 4,582 5,544 8,498 7,765 10,038 3,962 1,812Interest on long-term debt .. .. 203 1,433 1,286 1,374 1,802 2,223 2,453 2,263Profit remittances on FDI .. .. 20 549 639 610 396 701 714 750Memo: official net transfers .. .. -164 282 -265 -695 -659 -435 -4,027 -733 private net transfers .. .. -38 4,301 5,809 9,193 8,423 10,472 7,989 2,546


Gross national income (GNI) .. .. 55,620 129,673 147,694 157,267 154,029 162,671 182,001 187,134Exports of goods, serv. & inc. (XGS) .. .. 19,640 39,554 41,910 46,471 40,958 49,178 54,982 59,836Worker remit. & comp. of employees .. .. 0 774 848 1,070 825 831 1,131 1,373Imports of goods & services (MGS) .. .. 19,084 43,789 48,892 55,331 54,961 60,917 62,290 67,014International reserves (RES) .. .. 4,674 18,019 20,669 28,276 27,314 27,469 26,563 29,784Current account balance .. .. 3,067 -3,264 -5,744 -6,901 -12,487 -9,998 -5,357 -5,007

4. DEBT INDICATORS


421POLAND


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 39,261 40,810 36,589 49,303 54,635 56,175 56,309 60,637Public and publicly guaranteed .. .. 39,261 39,208 34,177 35,136 33,151 30,784 25,709 29,374Official creditors .. .. 27,919 30,502 26,578 27,075 25,059 23,655 17,810 19,747 Multilateral .. .. 524 2,175 2,079 2,156 2,185 2,229 2,211 2,385 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 27,395 28,326 24,499 24,919 22,874 21,426 15,599 17,362 Concessional .. .. 3,822 10,111 7,691 7,904 7,292 6,786 6,183 6,582Private creditors .. .. 11,342 8,707 7,599 8,062 8,092 7,129 7,899 9,627 Bonds .. .. 1 8,271 6,964 7,365 7,338 6,660 7,738 9,611 Commercial banks .. .. 9,759 323 573 650 725 456 155 13 Other private .. .. 1,582 113 63 47 28 13 5 3Private nonguaranteed .. .. 0 1,602 2,412 14,167 21,484 25,390 30,599 31,263 Bonds .. .. 0 50 850 1,678 2,730 3,462 3,784 3,740 Commercial banks and other .. .. 0 1,552 1,561 12,489 18,754 21,928 26,815 27,523Memo: IBRD .. .. 55 2,175 2,079 2,156 2,185 2,229 2,211 2,385 IDA .. .. 0 0 0 0 0 0 0 0

DISBURSEMENTS .. .. 540 1,475 2,394 4,742 8,233 10,174 13,607 11,685Public and publicly guaranteed .. .. 540 1,014 1,010 1,391 520 906 1,940 2,881Official creditors .. .. 70 693 280 153 247 350 299 173 Multilateral .. .. 56 464 239 153 247 349 298 172 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 14 229 42 0 0 0 0 0 Concessional .. .. 10 198 1 0 0 0 0 0Private creditors .. .. 470 321 730 1,239 272 557 1,642 2,709 Bonds .. .. 0 166 400 1,138 0 554 1,596 2,709 Commercial banks .. .. 300 155 326 94 270 2 46 0 Other private .. .. 170 0 3 7 3 0 0 0Private nonguaranteed .. .. 0 461 1,384 3,351 7,713 9,268 11,667 8,803 Bonds .. .. 0 50 803 812 1,146 809 425 0 Commercial banks and other .. .. 0 411 581 2,539 6,567 8,459 11,242 8,803Memo: IBRD .. .. 54 464 239 153 247 349 298 172 IDA .. .. 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. 635 1,114 1,085 2,910 6,244 7,674 12,609 10,978Public and publicly guaranteed .. .. 635 803 510 1,444 846 2,278 5,193 2,750Official creditors .. .. 147 445 420 640 690 805 4,428 1,240 Multilateral .. .. 46 197 155 175 188 199 205 206 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 101 248 265 464 502 606 4,223 1,034 Concessional .. .. 43 51 80 231 195 205 262 348Private creditors .. .. 488 358 90 804 156 1,473 765 1,510 Bonds .. .. 0 0 0 748 0 1,224 430 1,352 Commercial banks .. .. 400 312 54 35 139 235 328 154 Other private .. .. 88 46 36 21 17 14 7 3Private nonguaranteed .. .. 0 311 575 1,466 5,398 5,396 7,415 8,228 Bonds .. .. 0 0 0 0 0 0 0 50 Commercial banks and other .. .. 0 311 575 1,466 5,398 5,396 7,415 8,178Memo: IBRD .. .. 0 197 155 175 188 199 205 206 IDA .. .. 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. -95 361 1,310 1,832 1,988 2,500 999 707Public and publicly guaranteed .. .. -95 211 500 -53 -327 -1,372 -3,253 131Official creditors .. .. -77 248 -140 -487 -443 -456 -4,130 -1,067 Multilateral .. .. 10 266 84 -23 59 150 93 -33 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. -87 -19 -224 -464 -502 -606 -4,223 -1,034 Concessional .. .. -33 147 -79 -231 -195 -204 -262 -348Private creditors .. .. -18 -37 640 434 116 -916 877 1,199 Bonds .. .. 0 166 400 390 0 -670 1,166 1,357 Commercial banks .. .. -100 -157 272 59 131 -233 -282 -154 Other private .. .. 83 -46 -32 -14 -14 -14 -7 -3Private nonguaranteed .. .. 0 150 810 1,884 2,315 3,872 4,252 575 Bonds .. .. 0 50 803 812 1,146 809 425 -50 Commercial banks and other .. .. 0 100 7 1,072 1,169 3,063 3,826 625Memo: IBRD .. .. 54 266 84 -23 59 150 93 -33 IDA .. .. 0 0 0 0 0 0 0 0

422POLAND


INTEREST PAYMENTS (LINT) .. .. 203 1,433 1,286 1,374 1,802 2,223 2,453 2,263Public and publicly guaranteed .. .. 203 1,355 1,169 1,164 1,316 1,138 1,043 953Official creditors .. .. 113 922 777 759 906 653 622 484 Multilateral .. .. 31 147 142 131 133 122 118 106 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 82 775 636 629 773 532 504 378 Concessional .. .. 56 465 405 407 343 296 279 276Private creditors .. .. 90 433 391 405 410 484 421 469 Bonds .. .. 0 392 364 349 364 449 401 464 Commercial banks .. .. 74 32 23 53 44 34 20 4 Other private .. .. 15 8 5 3 2 1 1 0Private nonguaranteed .. .. 0 78 117 210 486 1,086 1,410 1,311 Bonds .. .. 0 0 3 65 107 193 265 283 Commercial banks and other .. .. 0 78 114 145 379 892 1,145 1,027Memo: IBRD .. .. 1 147 142 131 133 122 118 106 IDA .. .. 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT .. .. -298 -1,072 23 458 186 276 -1,454 -1,557Public and publicly guaranteed .. .. -298 -1,144 -669 -1,217 -1,643 -2,510 -4,296 -821Official creditors .. .. -190 -675 -917 -1,246 -1,349 -1,109 -4,751 -1,551 Multilateral .. .. -22 119 -58 -153 -74 28 -24 -139 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. -169 -794 -859 -1,093 -1,275 -1,137 -4,727 -1,412 Concessional .. .. -90 -318 -485 -637 -538 -500 -541 -624Private creditors .. .. -107 -469 249 30 -294 -1,401 456 730 Bonds .. .. 0 -226 36 41 -364 -1,119 765 892 Commercial banks .. .. -175 -189 249 6 86 -267 -302 -159 Other private .. .. 67 -54 -37 -17 -16 -15 -7 -4Private nonguaranteed .. .. 0 72 692 1,675 1,829 2,786 2,842 -735 Bonds .. .. 0 50 800 748 1,039 615 161 -333 Commercial banks and other .. .. 0 22 -107 927 790 2,171 2,681 -402Memo: IBRD .. .. 54 119 -58 -153 -74 28 -24 -139 IDA .. .. 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. 838 2,547 2,371 4,284 8,046 9,898 15,061 13,242Public and publicly guaranteed .. .. 838 2,158 1,679 2,608 2,162 3,416 6,236 3,703Official creditors .. .. 260 1,368 1,198 1,399 1,596 1,459 5,050 1,724 Multilateral .. .. 77 344 297 306 321 321 323 312 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 183 1,023 901 1,093 1,275 1,138 4,727 1,412 Concessional .. .. 100 516 486 637 538 500 541 624Private creditors .. .. 577 790 481 1,209 566 1,957 1,186 1,979 Bonds .. .. 0 392 364 1,097 364 1,674 831 1,816 Commercial banks .. .. 474 344 77 88 184 269 348 159 Other private .. .. 103 54 40 24 19 15 7 4Private nonguaranteed .. .. 0 389 692 1,676 5,884 6,482 8,825 9,539 Bonds .. .. 0 0 3 65 107 193 265 333 Commercial banks and other .. .. 0 389 689 1,612 5,777 6,289 8,561 9,206Memo: IBRD .. .. 1 344 297 306 321 321 323 312 IDA .. .. 0 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. 2,126 1,244 1,223 972 1,217 685 521 388Official creditors .. .. 1,297 1,136 1,060 912 1,165 638 521 388Private creditors .. .. 829 108 163 60 52 48 0 0Memorandum items Concessional LDOD .. .. 3,822 10,111 7,691 7,904 7,292 6,786 6,183 6,582 Variable rate LDOD .. .. 26,112 25,048 23,268 34,789 40,893 42,861 42,534 44,600 Public sector LDOD .. .. 39,259 39,208 33,970 34,934 32,949 30,783 25,709 29,374 Private sector LDOD .. .. 2 1,603 2,619 14,369 21,685 25,392 30,600 31,263



423POLAND



Total amount rescheduled .. .. 3,559 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 1,366 70 7 3 0 0 0 0 Official .. .. 746 0 0 0 0 0 0 0 Private .. .. 620 70 7 3 0 0 0 0 Interest rescheduled .. .. 2,163 1 0 0 0 0 0 0 Official .. .. 1,998 0 0 0 0 0 0 0 Private .. .. 165 1 0 0 0 0 0 0Debt forgiven .. .. 232 4 8 33 0 0 0 0 Memo: interest forgiven .. .. 61 0 0 0 0 0 0 0Debt stock reduction .. .. 284 0 1,686 748 0 943 1,153 0 of which debt buyback .. .. 0 0 0 748 0 943 290 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 6,279 -790 -3,072 15,093 5,177 2,588 16 6,246 Net flows on debt .. .. 423 982 2,459 4,210 1,741 3,522 999 1,155 Net change in interest arrears .. .. 987 -136 0 0 93 25 -118 0 Interest capitalized .. .. 2,163 1 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -516 -4 -1,694 -33 0 0 -864 0 Cross-currency valuation .. .. 2,795 -1,372 -2,309 1,056 -1,638 -1,243 -918 2,653 Residual .. .. 427 -261 -1,529 9,859 4,981 284 916 969

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. 7.5 6.4 6.4 7.4 3.9 6.3 5.4 5.9 Maturity (years) .. .. 15.3 9.8 9.9 8.2 9.1 11.2 10.3 9.6 Grace period (years) .. .. 5.1 4.3 6.1 8.0 3.1 8.7 9.7 9.5 Grant element (%) .. .. 14.6 16.0 17.3 13.1 22.2 22.4 28.1 24.4Official creditors Interest (%) .. .. 7.2 6.3 5.7 4.3 4.5 7.1 4.7 2.5 Maturity (years) .. .. 17.8 16.8 14.9 14.9 14.5 14.5 12.3 16.1 Grace period (years) .. .. 5.6 4.6 5.4 5.4 5.0 5.2 7.6 5.1 Grant element (%) .. .. 18.0 21.7 25.3 34.0 31.6 16.3 31.6 46.1Private creditors Interest (%) .. .. 8.5 6.4 6.9 7.4 3.1 6.0 5.5 5.9 Maturity (years) .. .. 7.4 4.4 6.7 8.1 3.1 10.0 10.0 9.6 Grace period (years) .. .. 3.6 4.0 6.6 8.1 1.0 10.0 10.0 9.6 Grant element (%) .. .. 3.9 11.6 12.0 12.7 11.9 24.5 27.7 24.3Memorandum items Commitments .. .. 1,673 568 1,347 1,231 573 753 1,797 2,724 Official creditors .. .. 1,266 249 533 20 300 196 201 15 Private creditors .. .. 407 320 813 1,211 273 556 1,596 2,709


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 112 87 68 45 32 22 12 5 2 1Principal 6,805 6,781 6,115 5,964 7,046 8,043 6,171 4,575 4,657 2,500Interest 2,156 1,995 1,799 1,645 1,300 1,090 828 1,256 920 257Official creditors Disbursements 112 87 68 45 32 22 12 5 2 1Principal 1,921 2,126 2,592 2,986 3,444 3,820 2,341 216 180 172Interest 481 433 378 312 237 150 55 21 15 10 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,646 1,835 2,278 2,657 3,105 3,565 2,118 28 29 30 Interest 382 345 302 248 187 114 28 3 2 2 Multilateral creditors Disbursements 112 87 68 45 32 22 12 5 2 1 Principal 275 291 314 329 339 255 223 188 151 142 Interest 99 89 77 64 50 36 27 18 12 8Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0Principal 4,884 4,655 3,523 2,978 3,602 4,222 3,830 4,359 4,477 2,328Interest 1,675 1,561 1,421 1,332 1,063 941 773 1,235 905 248 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 9 1 1 1 1 0 0 0 0 0 Interest 1 0 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4,875 4,655 3,523 2,977 3,602 4,222 3,830 4,359 4,477 2,328 Interest 1,675 1,561 1,421 1,332 1,063 941 773 1,235 905 248

424ROMANIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. 9,762 1,140 8,366 9,524 9,920 9,136 10,498 11,529 14,683Long-term debt (LDOD) .. 7,131 230 6,579 7,965 8,805 8,292 9,684 10,732 13,780Public and publicly guaranteed .. 7,131 223 5,544 6,234 6,449 5,761 6,368 6,553 8,112Private nonguaranteed .. 0 7 1,035 1,731 2,356 2,531 3,316 4,178 5,668Use of IMF credit .. 328 0 651 641 539 458 453 387 428Short-term debt .. 2,303 910 1,136 918 576 385 361 411 475of which interest arrears on LDOD .. 0 0 0 0 21 20 12 12 14 Official creditors .. 0 0 0 0 0 0 4 4 4 Private creditors .. 0 0 0 0 21 20 8 8 9Memo: principal arrears on LDOD .. 0 0 0 2 44 42 17 17 21 Official creditors .. 0 0 0 2 0 0 0 0 0 Private creditors .. 0 0 0 0 44 42 17 17 21Memo: export credits .. 0 188 1,917 1,980 587 629 509 559 397

TOTAL DEBT FLOWS Disbursements .. 2,955 26 4,690 3,741 1,997 3,269 3,102 3,325 4,561Long-term debt .. 2,797 26 4,690 3,575 1,997 3,196 2,988 3,258 4,454IMF purchases .. 158 0 0 166 0 72 114 66 107Principal repayments .. 928 4 4,062 2,759 1,888 3,139 1,752 1,925 2,548Long-term debt .. 824 4 3,706 2,624 1,763 3,000 1,656 1,808 2,450IMF repurchases .. 104 0 356 135 125 139 96 117 98Net flows on debt .. 2,027 44 461 764 -254 -60 1,334 1,450 2,075of which short-term debt .. 0 22 -167 -218 -363 -190 -16 50 62Interest payments (INT) .. 601 14 496 553 525 540 633 612 540Long-term debt .. 332 0 364 471 481 497 587 579 520IMF charges .. 20 0 39 29 29 20 24 19 11Short-term debt .. 249 14 93 53 15 23 22 14 9Net transfers on debt .. 1,426 30 -35 211 -779 -601 701 838 1,535Total debt service paid (TDS) .. 1,529 18 4,558 3,312 2,413 3,680 2,385 2,537 3,088Long-term debt .. 1,156 4 4,070 3,095 2,244 3,497 2,243 2,387 2,970IMF repurchases and charges .. 124 0 395 165 154 159 120 136 109Short-term debt (interest only) .. 249 14 93 53 15 23 22 14 9


NET RESOURCE FLOWS .. 1,973 24 1,351 2,489 2,497 1,500 2,619 2,873 3,427Net flow of long-term debt (ex. IMF) .. 1,973 22 984 952 234 197 1,332 1,451 2,004Foreign direct investment (net) .. 0 0 263 1,215 2,031 1,041 1,037 1,157 1,144Portfolio equity flows .. 0 0 0 195 95 68 58 8 21Grants (excluding technical coop.) .. 0 2 104 127 136 195 193 257 259Memo: technical coop. grants .. 0 2 100 57 160 91 109 112 127 official net resource flows .. 613 21 843 463 5 145 677 276 254 private net resource flows .. 1,360 4 508 2,026 2,492 1,355 1,942 2,597 3,173

NET TRANSFERS .. 1,641 24 963 1,988 1,862 951 1,960 2,177 2,711Interest on long-term debt .. 332 0 364 471 481 497 587 579 520Profit remittances on FDI .. 0 0 24 30 154 52 72 117 197Memo: official net transfers .. 495 21 607 222 -202 -84 434 2 61 private net transfers .. 1,146 3 356 1,766 2,064 1,036 1,526 2,175 2,649


Gross national income (GNI) .. .. 38,455 35,033 34,958 41,673 35,181 36,768 39,883 45,290Exports of goods, serv. & inc. (XGS) .. 12,160 6,555 9,736 10,160 9,795 10,024 12,440 13,876 16,643Worker remit. & comp. of employees .. 0 0 18 16 49 96 96 116 143Imports of goods & services (MGS) .. 14,580 9,915 12,890 12,841 13,461 11,943 14,653 17,244 19,697International reserves (RES) .. 2,511 1,374 3,143 4,679 3,795 3,651 4,848 6,377 8,372Current account balance .. -2,420 -3,254 -2,571 -2,104 -2,917 -1,297 -1,355 -2,229 -1,525

4. DEBT INDICATORS

EDT / XGS (%) .. 80.3 17.4 85.9 93.7 101.3 91.1 84.4 83.1 88.2EDT / GNI (%) .. .. 3.0 23.9 27.2 23.8 26.0 28.6 28.9 32.4TDS / XGS (%) .. 12.6 0.3 46.8 32.6 24.6 36.7 19.2 18.3 18.6INT / XGS (%) .. 4.9 0.2 5.1 5.4 5.4 5.4 5.1 4.4 3.2INT / GNI (%) .. .. 0.0 1.4 1.6 1.3 1.5 1.7 1.5 1.2RES / EDT (%) .. 25.7 120.5 37.6 49.1 38.3 40.0 46.2 55.3 57.0RES / MGS (months) .. 2.1 1.7 2.9 4.4 3.4 3.7 4.0 4.4 5.1Short-term / EDT (%) .. 23.6 79.8 13.6 9.6 5.8 4.2 3.4 3.6 3.2Concessional / EDT (%) .. 1.8 19.2 5.5 4.7 5.8 4.0 3.0 2.3 1.4Multilateral / EDT (%) .. 8.3 0.0 23.5 23.6 24.1 28.7 28.2 26.4 23.7

425ROMANIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. 7,131 230 6,579 7,965 8,805 8,292 9,684 10,732 13,780Public and publicly guaranteed .. 7,131 223 5,544 6,234 6,449 5,761 6,368 6,553 8,112Official creditors .. 2,468 218 3,605 3,651 3,657 3,870 4,177 4,090 4,377 Multilateral .. 806 0 1,964 2,250 2,389 2,621 2,965 3,039 3,480 Concessional .. 0 0 0 0 0 0 3 3 3 Bilateral .. 1,661 218 1,642 1,400 1,268 1,248 1,212 1,050 897 Concessional .. 174 218 460 449 577 363 316 268 210Private creditors .. 4,663 5 1,939 2,583 2,792 1,892 2,191 2,464 3,736 Bonds .. 0 0 757 1,016 1,118 652 736 1,064 1,101 Commercial banks .. 4,222 0 592 1,051 1,164 856 1,170 1,198 2,452 Other private .. 441 5 590 516 510 385 285 202 183Private nonguaranteed .. 0 7 1,035 1,731 2,356 2,531 3,316 4,178 5,668 Bonds .. 0 0 0 75 75 75 0 0 120 Commercial banks and other .. 0 7 1,035 1,656 2,281 2,456 3,316 4,178 5,548Memo: IBRD .. 806 0 1,009 1,305 1,443 1,662 1,898 1,876 2,173 IDA .. 0 0 0 0 0 0 0 0 0

DISBURSEMENTS .. 2,797 26 4,690 3,575 1,997 3,196 2,988 3,258 4,454Public and publicly guaranteed .. 2,797 23 2,191 1,796 1,173 1,868 1,781 1,654 2,316Official creditors .. 954 19 944 658 673 673 963 513 658 Multilateral .. 239 0 380 532 397 619 763 387 568 Concessional .. 0 0 0 0 0 0 3 0 0 Bilateral .. 715 19 564 126 276 55 200 126 90 Concessional .. 0 19 72 53 107 21 52 37 4Private creditors .. 1,843 5 1,247 1,139 500 1,194 817 1,141 1,658 Bonds .. 0 0 804 346 0 0 139 672 142 Commercial banks .. 1,402 0 323 711 413 1,166 647 454 1,470 Other private .. 441 5 120 81 87 28 32 15 47Private nonguaranteed .. 0 3 2,499 1,779 825 1,329 1,207 1,605 2,138 Bonds .. 0 0 0 75 0 0 0 0 120 Commercial banks and other .. 0 3 2,499 1,704 825 1,329 1,207 1,605 2,018Memo: IBRD .. 239 0 227 399 153 315 384 132 335 IDA .. 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. 824 4 3,706 2,624 1,763 3,000 1,656 1,808 2,450Public and publicly guaranteed .. 824 0 1,708 1,541 1,563 1,513 935 1,287 1,411Official creditors .. 341 0 205 322 804 723 479 494 663 Multilateral .. 22 0 35 78 350 278 314 235 360 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 319 0 170 244 454 445 165 259 303 Concessional .. 0 0 3 5 10 219 71 65 88Private creditors .. 483 0 1,503 1,219 759 790 456 793 749 Bonds .. 0 0 0 0 0 456 0 297 290 Commercial banks .. 483 0 1,404 1,094 651 206 336 403 379 Other private .. 0 0 99 125 108 128 121 93 80Private nonguaranteed .. 0 4 1,998 1,083 200 1,487 721 521 1,039 Bonds .. 0 0 0 0 0 0 75 0 0 Commercial banks and other .. 0 4 1,998 1,083 200 1,487 646 521 1,039Memo: IBRD .. 22 0 0 28 68 83 91 101 120 IDA .. 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. 1,973 22 984 952 234 197 1,332 1,451 2,004Public and publicly guaranteed .. 1,973 23 483 256 -391 355 846 367 905Official creditors .. 613 19 739 336 -131 -49 485 19 -5 Multilateral .. 217 0 345 455 46 340 450 152 208 Concessional .. 0 0 0 0 0 0 3 0 0 Bilateral .. 396 19 393 -119 -178 -390 35 -133 -213 Concessional .. 0 19 69 48 97 -198 -18 -28 -84Private creditors .. 1,360 5 -256 -80 -259 404 361 348 909 Bonds .. 0 0 804 346 0 -456 139 375 -148 Commercial banks .. 919 0 -1,081 -382 -238 961 311 51 1,090 Other private .. 441 5 21 -44 -21 -100 -89 -78 -33Private nonguaranteed .. 0 -1 501 696 625 -158 486 1,084 1,099 Bonds .. 0 0 0 75 0 0 -75 0 120 Commercial banks and other .. 0 -1 501 621 625 -158 561 1,084 979Memo: IBRD .. 217 0 227 371 84 233 293 31 214 IDA .. 0 0 0 0 0 0 0 0 0

426ROMANIA



NET TRANSFERS ON DEBT .. 1,641 22 620 481 -247 -301 745 872 1,484Public and publicly guaranteed .. 1,641 23 171 -113 -732 -3 452 -73 484Official creditors .. 495 19 503 95 -338 -279 242 -255 -198 Multilateral .. 158 0 189 296 -97 168 268 -30 72 Concessional .. 0 0 0 0 0 0 3 -1 0 Bilateral .. 337 19 314 -201 -241 -448 -26 -226 -270 Concessional .. 0 19 54 34 82 -211 -31 -38 -92Private creditors .. 1,146 5 -332 -208 -394 276 210 183 681 Bonds .. 0 0 796 308 -63 -511 93 327 -279 Commercial banks .. 747 0 -1,102 -427 -281 921 233 -46 1,009 Other private .. 399 5 -25 -88 -50 -133 -117 -98 -48Private nonguaranteed .. 0 -1 449 593 486 -298 293 944 1,000 Bonds .. 0 0 0 75 -7 -7 -82 0 118 Commercial banks and other .. 0 -1 449 518 493 -291 375 944 882Memo: IBRD .. 158 0 164 301 3 145 189 -72 139 IDA .. 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. 1,156 4 4,070 3,095 2,244 3,497 2,243 2,387 2,970Public and publicly guaranteed .. 1,156 0 2,020 1,909 1,905 1,870 1,329 1,727 1,832Official creditors .. 459 0 441 563 1,011 952 722 768 856 Multilateral .. 81 0 191 237 494 450 496 417 496 Concessional .. 0 0 0 0 0 0 0 1 0 Bilateral .. 378 0 250 326 517 502 226 351 359 Concessional .. 0 0 18 19 25 232 84 75 97Private creditors .. 698 0 1,579 1,346 894 918 608 958 977 Bonds .. 0 0 9 39 63 511 45 345 421 Commercial banks .. 656 0 1,426 1,139 694 246 413 500 461 Other private .. 42 0 145 169 137 161 149 113 95Private nonguaranteed .. 0 4 2,050 1,186 339 1,627 914 660 1,138 Bonds .. 0 0 0 0 7 7 82 0 2 Commercial banks and other .. 0 4 2,050 1,186 332 1,620 832 660 1,136Memo: IBRD .. 81 0 63 99 150 170 195 204 196 IDA .. 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT .. 1,865 113 3,228 3,010 2,404 2,631 2,431 2,036 2,167Official creditors .. 1,347 0 2,555 2,570 2,095 2,118 1,761 1,351 1,260Private creditors .. 518 113 673 441 309 513 670 685 907Memorandum items Concessional LDOD .. 174 218 460 449 577 363 318 270 213 Variable rate LDOD .. 4,222 7 2,888 3,875 5,200 5,783 7,200 7,845 10,188 Public sector LDOD .. 7,131 223 5,519 6,216 6,424 5,747 6,355 6,542 8,103 Private sector LDOD .. 0 7 1,060 1,748 2,381 2,546 3,329 4,189 5,678



427ROMANIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 53 1,561 1,157 396 -785 1,362 1,031 3,154 Net flows on debt .. 2,027 44 461 764 -254 -60 1,334 1,450 2,075 Net change in interest arrears .. .. 0 0 0 21 -1 -8 0 2 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 39 -199 -450 331 -176 -233 -183 585 Residual .. .. -30 1,299 843 298 -547 270 -236 492

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. 14.1 7.6 5.1 8.5 5.6 6.4 8.6 8.2 5.9 Maturity (years) .. 8.5 10.7 8.3 10.4 8.6 14.4 9.2 7.7 11.4 Grace period (years) .. 3.5 4.5 3.7 3.5 2.7 3.5 2.7 4.3 5.5 Grant element (%) .. -16.0 13.2 18.8 13.1 14.3 20.3 7.0 7.2 21.6Official creditors Interest (%) .. 8.0 2.7 4.4 6.0 7.5 5.6 6.7 5.1 3.4 Maturity (years) .. 14.9 25.5 11.3 18.9 13.8 20.4 15.0 14.2 18.4 Grace period (years) .. 3.4 10.0 4.5 5.1 6.0 5.3 2.6 4.6 5.1 Grant element (%) .. 10.0 57.3 24.1 25.3 14.7 29.2 16.2 27.6 41.6Private creditors Interest (%) .. 15.0 8.4 5.8 10.5 4.5 7.3 9.9 8.8 6.6 Maturity (years) .. 7.6 8.2 4.9 3.4 5.4 6.3 5.3 6.4 9.7 Grace period (years) .. 3.6 3.6 2.9 2.2 0.7 1.1 2.7 4.3 5.6 Grant element (%) .. -19.8 5.8 12.7 3.0 14.0 8.2 0.9 3.2 16.4Memorandum items Commitments .. 1,886 132 3,154 1,717 580 1,428 1,635 1,413 2,289 Official creditors .. 240 19 1,668 774 219 825 653 233 466 Private creditors .. 1,646 113 1,487 943 361 603 982 1,179 1,823


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 954 621 255 135 71 49 28 21 14 8Principal 2,131 2,118 1,963 1,485 1,603 1,976 1,281 405 353 1,030Interest 961 832 708 570 470 365 204 149 137 94Official creditors Disbursements 466 345 151 98 71 49 28 21 14 8Principal 696 659 474 416 411 410 392 297 267 238Interest 168 146 132 118 106 93 81 69 61 53 Bilateral creditors Disbursements 32 17 4 2 0 0 0 0 0 0 Principal 359 310 114 39 28 24 23 11 8 8 Interest 43 21 12 7 5 4 3 2 2 2 Multilateral creditors Disbursements 434 328 147 97 70 49 28 21 14 8 Principal 337 349 361 378 384 386 368 286 259 230 Interest 125 125 120 111 101 89 78 67 59 51Private creditors Disbursements 488 277 104 37 0 0 0 0 0 0Principal 1,435 1,459 1,489 1,069 1,192 1,566 889 108 86 792Interest 794 686 576 452 365 272 123 80 76 42 Commercial banks Disbursements 436 252 94 36 0 0 0 0 0 0 Principal 551 429 331 258 255 156 128 91 72 792 Interest 154 133 120 111 101 91 84 79 76 42 Other private Disbursements 52 25 10 1 0 0 0 0 0 0 Principal 883 1,030 1,158 811 937 1,411 761 16 14 0 Interest 640 554 456 341 264 181 39 1 1 0

428RUSSIAN FEDERATION


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 126,421 127,621 177,861 174,759 160,027 152,491 147,541Long-term debt (LDOD) .. .. .. 101,957 108,483 143,775 143,776 132,784 126,086 124,737Public and publicly guaranteed .. .. .. 101,957 106,578 121,612 121,193 111,022 103,760 96,223Private nonguaranteed .. .. .. 0 1,905 22,163 22,583 21,762 22,326 28,514Use of IMF credit .. .. .. 12,508 13,231 19,335 15,238 11,613 7,433 6,481Short-term debt .. .. .. 11,957 5,908 14,751 15,745 15,630 18,972 16,322of which interest arrears on LDOD .. .. .. 7,357 2,708 4,651 6,645 4,530 5,372 4,322 Official creditors .. .. .. 1,769 1,909 3,572 4,326 4,454 5,304 4,251 Private creditors .. .. .. 5,588 799 1,078 2,318 76 67 71Memo: principal arrears on LDOD .. .. .. 25,595 6,516 6,741 7,486 7,368 5,456 4,940 Official creditors .. .. .. 4,711 4,737 4,320 6,719 6,602 5,206 4,603 Private creditors .. .. .. 20,884 1,779 2,422 767 766 250 337Memo: export credits .. .. .. 44,718 37,471 30,197 28,255 27,220 31,379 35,342

TOTAL DEBT FLOWS Disbursements .. .. .. 10,210 10,859 24,190 3,744 1,416 2,936 6,036Long-term debt .. .. .. 6,453 8,840 17,948 3,099 1,416 2,936 6,036IMF purchases .. .. .. 3,757 2,019 6,241 645 0 0 0Principal repayments .. .. .. 3,160 1,904 5,081 6,918 6,221 9,333 7,167Long-term debt .. .. .. 2,638 1,409 4,166 2,678 3,333 5,517 5,681IMF repurchases .. .. .. 522 495 914 4,240 2,888 3,817 1,486Net flows on debt .. .. .. 7,300 7,555 21,912 -4,174 -2,805 -3,898 -2,731of which short-term debt .. .. .. 250 -1,400 -500 -1,000 2,000 2,500 -1,600Interest payments (INT) .. .. .. 4,155 5,129 5,817 5,171 5,604 7,937 7,163Long-term debt .. .. .. 3,685 4,547 5,099 3,943 4,284 6,807 6,429IMF charges .. .. .. 470 582 718 723 691 507 209Short-term debt .. .. .. 0 0 0 505 630 624 525Net transfers on debt .. .. .. 3,145 2,426 16,095 -9,345 -8,409 -11,835 -9,894Total debt service paid (TDS) .. .. .. 7,315 7,033 10,898 12,089 11,825 17,271 14,330Long-term debt .. .. .. 6,323 5,956 9,266 6,621 7,617 12,323 12,110IMF repurchases and charges .. .. .. 992 1,077 1,632 4,963 3,579 4,323 1,695Short-term debt (interest only) .. .. .. 0 0 0 505 630 624 525


NET RESOURCE FLOWS .. .. .. 9,008 13,914 17,437 4,249 1,608 788 6,219Net flow of long-term debt (ex. IMF) .. .. .. 3,815 7,431 13,782 421 -1,917 -2,581 355Foreign direct investment (net) .. .. .. 2,579 4,864 2,764 3,309 2,713 2,469 3,009Portfolio equity flows .. .. .. 2,154 1,266 714 -287 150 542 2,626Grants (excluding technical coop.) .. .. .. 460 353 177 805 662 358 229Memo: technical coop. grants .. .. .. 820 432 828 860 587 803 1,116 official net resource flows .. .. .. 4,030 2,998 1,175 1,381 201 -645 -1,791 private net resource flows .. .. .. 4,978 10,916 16,262 2,868 1,406 1,433 8,011

NET TRANSFERS .. .. .. 5,095 8,444 11,480 -312 -3,563 -7,233 -3,296Interest on long-term debt .. .. .. 3,685 4,547 5,099 3,943 4,284 6,807 6,429Profit remittances on FDI .. .. .. 227 923 857 618 887 1,214 3,087Memo: official net transfers .. .. .. 1,960 276 -624 741 -1,026 -3,856 -4,227 private net transfers .. .. .. 3,136 8,168 12,104 -1,053 -2,537 -3,376 931


Gross national income (GNI) .. .. .. 386,288 396,236 259,163 188,190 252,972 305,929 340,403Exports of goods, serv. & inc. (XGS) .. .. .. 107,303 105,341 91,117 88,498 119,351 120,101 126,992Worker remit. & comp. of employees .. .. .. 103 227 301 426 500 624 827Imports of goods & services (MGS) .. .. .. 96,526 105,065 90,564 64,488 72,582 85,770 96,959International reserves (RES) .. .. .. 16,258 17,624 12,043 12,325 27,656 36,303 48,326Current account balance .. .. .. 10,847 -80 216 24,611 46,840 33,572 29,905

4. DEBT INDICATORS




5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 101,957 108,483 143,775 143,776 132,784 126,086 124,737Public and publicly guaranteed .. .. .. 101,957 106,578 121,612 121,193 111,022 103,760 96,223Official creditors .. .. .. 63,114 63,583 68,922 71,452 70,851 64,236 55,677 Multilateral .. .. .. 2,762 5,289 6,577 6,915 7,040 6,969 6,807 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 60,352 58,295 62,344 64,536 63,811 57,267 48,870 Concessional .. .. .. 1,331 1,186 1,173 436 889 741 608Private creditors .. .. .. 38,843 42,994 52,690 49,741 40,171 39,524 40,546 Bonds .. .. .. 1,074 4,585 15,981 15,644 36,368 35,279 36,797 Commercial banks .. .. .. 15,878 29,538 29,555 29,283 690 640 789 Other private .. .. .. 21,891 8,871 7,154 4,815 3,113 3,605 2,960Private nonguaranteed .. .. .. 0 1,905 22,163 22,583 21,762 22,326 28,514 Bonds .. .. .. 0 1,905 2,189 2,171 1,412 1,734 4,526 Commercial banks and other .. .. .. 0 0 19,974 20,413 20,350 20,592 23,989Memo: IBRD .. .. .. 2,509 5,053 6,337 6,707 6,844 6,746 6,599 IDA .. .. .. 0 0 0 0 0 0 0

DISBURSEMENTS .. .. .. 6,453 8,840 17,948 3,099 1,416 2,936 6,036Public and publicly guaranteed .. .. .. 6,453 6,935 14,662 2,079 1,036 912 838Official creditors .. .. .. 4,038 3,045 2,165 1,288 746 738 643 Multilateral .. .. .. 1,187 2,748 1,293 561 574 432 246 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2,852 297 872 727 172 306 397 Concessional .. .. .. 0 0 0 346 0 21 8Private creditors .. .. .. 2,415 3,890 12,497 791 290 174 195 Bonds .. .. .. 1,000 3,555 11,329 0 0 0 0 Commercial banks .. .. .. 6 2 5 0 0 0 0 Other private .. .. .. 1,409 333 1,162 791 290 174 195Private nonguaranteed .. .. .. 0 1,905 3,287 1,021 380 2,024 5,198 Bonds .. .. .. 0 1,905 278 0 75 528 3,493 Commercial banks and other .. .. .. 0 0 3,009 1,021 305 1,496 1,705Memo: IBRD .. .. .. 1,097 2,691 1,226 538 540 378 229 IDA .. .. .. 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. .. 2,638 1,409 4,166 2,678 3,333 5,517 5,681Public and publicly guaranteed .. .. .. 2,638 1,409 3,741 1,998 2,031 4,105 3,617Official creditors .. .. .. 468 400 1,167 713 1,206 1,740 2,663 Multilateral .. .. .. 291 68 129 204 312 382 557 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 177 332 1,038 509 894 1,359 2,106 Concessional .. .. .. 15 42 60 30 41 166 142Private creditors .. .. .. 2,170 1,009 2,574 1,286 825 2,364 953 Bonds .. .. .. 979 0 69 0 268 1,000 17 Commercial banks .. .. .. 30 29 270 35 19 29 9 Other private .. .. .. 1,160 980 2,235 1,251 538 1,335 927Private nonguaranteed .. .. .. 0 0 426 680 1,302 1,412 2,065 Bonds .. .. .. 0 0 0 0 825 207 730 Commercial banks and other .. .. .. 0 0 426 680 477 1,205 1,335Memo: IBRD .. .. .. 0 0 66 150 266 355 526 IDA .. .. .. 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. 3,815 7,431 13,782 421 -1,917 -2,581 355Public and publicly guaranteed .. .. .. 3,815 5,526 10,921 80 -995 -3,193 -2,779Official creditors .. .. .. 3,570 2,645 998 575 -460 -1,003 -2,021 Multilateral .. .. .. 896 2,680 1,164 357 262 50 -312 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2,674 -35 -166 218 -722 -1,053 -1,709 Concessional .. .. .. -15 -42 -60 316 -41 -145 -134Private creditors .. .. .. 245 2,881 9,923 -495 -535 -2,191 -758 Bonds .. .. .. 21 3,555 11,260 0 -268 -1,000 -17 Commercial banks .. .. .. -24 -27 -264 -35 -19 -29 -9 Other private .. .. .. 249 -648 -1,073 -460 -248 -1,162 -732Private nonguaranteed .. .. .. 0 1,905 2,861 341 -922 612 3,133 Bonds .. .. .. 0 1,905 278 0 -750 321 2,763 Commercial banks and other .. .. .. 0 0 2,583 341 -172 291 371Memo: IBRD .. .. .. 1,097 2,691 1,160 388 274 23 -296 IDA .. .. .. 0 0 0 0 0 0 0



INTEREST PAYMENTS (LINT) .. .. .. 3,685 4,547 5,099 3,943 4,284 6,807 6,429Public and publicly guaranteed .. .. .. 3,685 4,547 3,507 2,569 3,207 5,861 5,400Official creditors .. .. .. 2,070 2,722 1,799 640 1,227 3,212 2,436 Multilateral .. .. .. 153 200 332 371 431 399 245 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 1,917 2,522 1,466 269 796 2,812 2,190 Concessional .. .. .. 19 18 16 13 1 24 27Private creditors .. .. .. 1,615 1,824 1,708 1,929 1,979 2,650 2,964 Bonds .. .. .. 58 216 669 1,639 1,845 2,414 2,756 Commercial banks .. .. .. 1,156 1,250 790 6 4 43 34 Other private .. .. .. 401 358 249 285 130 193 174Private nonguaranteed .. .. .. 0 0 1,593 1,374 1,077 945 1,029 Bonds .. .. .. 0 0 129 170 165 80 281 Commercial banks and other .. .. .. 0 0 1,464 1,204 912 865 748Memo: IBRD .. .. .. 121 178 316 359 412 384 238 IDA .. .. .. 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT .. .. .. 130 2,884 8,683 -3,522 -6,201 -9,388 -6,074Public and publicly guaranteed .. .. .. 130 979 7,414 -2,489 -4,202 -9,055 -8,179Official creditors .. .. .. 1,500 -77 -801 -65 -1,688 -4,214 -4,456 Multilateral .. .. .. 743 2,480 832 -14 -169 -349 -557 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 757 -2,557 -1,633 -51 -1,518 -3,865 -3,899 Concessional .. .. .. -34 -60 -76 302 -41 -169 -161Private creditors .. .. .. -1,370 1,056 8,215 -2,424 -2,514 -4,840 -3,722 Bonds .. .. .. -38 3,339 10,590 -1,639 -2,113 -3,414 -2,773 Commercial banks .. .. .. -1,180 -1,277 -1,054 -41 -23 -72 -43 Other private .. .. .. -152 -1,006 -1,321 -745 -378 -1,354 -906Private nonguaranteed .. .. .. 0 1,905 1,268 -1,033 -1,999 -333 2,105 Bonds .. .. .. 0 1,905 149 -170 -915 241 2,482 Commercial banks and other .. .. .. 0 0 1,119 -863 -1,084 -574 -377Memo: IBRD .. .. .. 976 2,513 844 29 -138 -361 -534 IDA .. .. .. 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. .. 6,323 5,956 9,266 6,621 7,617 12,323 12,110Public and publicly guaranteed .. .. .. 6,323 5,956 7,247 4,567 5,238 9,966 9,016Official creditors .. .. .. 2,538 3,122 2,965 1,353 2,434 4,952 5,099 Multilateral .. .. .. 444 268 461 575 743 781 803 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2,094 2,854 2,504 778 1,690 4,171 4,296 Concessional .. .. .. 34 60 76 43 41 190 169Private creditors .. .. .. 3,785 2,833 4,282 3,215 2,804 5,014 3,917 Bonds .. .. .. 1,038 216 739 1,639 2,113 3,414 2,773 Commercial banks .. .. .. 1,186 1,279 1,060 41 23 72 43 Other private .. .. .. 1,561 1,338 2,484 1,535 668 1,528 1,101Private nonguaranteed .. .. .. 0 0 2,018 2,054 2,379 2,357 3,094 Bonds .. .. .. 0 0 129 170 990 287 1,011 Commercial banks and other .. .. .. 0 0 1,889 1,884 1,389 2,070 2,083Memo: IBRD .. .. .. 121 178 382 509 679 739 764 IDA .. .. .. 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. .. 8,483 7,894 7,084 6,430 3,393 2,976 2,786Official creditors .. .. .. 4,886 5,498 5,567 5,272 2,581 2,408 2,379Private creditors .. .. .. 3,597 2,396 1,516 1,158 812 568 408Memorandum items Concessional LDOD .. .. .. 1,331 1,186 1,173 436 889 741 608 Variable rate LDOD .. .. .. 51,405 67,011 87,853 80,002 46,697 44,743 50,234 Public sector LDOD .. .. .. 101,957 106,578 121,612 121,193 111,022 103,760 96,223 Private sector LDOD .. .. .. 0 1,905 22,163 22,583 21,762 22,326 28,514






Total amount rescheduled .. .. .. 7,367 34,656 5,270 13,680 26,526 2,171 3,256 Debt stock rescheduled .. .. .. 0 121 0 0 17,369 0 0 Principal rescheduled .. .. .. 5,568 28,987 3,861 7,686 3,189 2,171 2,123 Official .. .. .. 2,338 3,718 2,855 6,000 2,782 2,171 2,123 Private .. .. .. 3,230 25,269 1,006 1,685 407 0 0 Interest rescheduled .. .. .. 1,006 5,263 524 4,967 4,356 0 0 Official .. .. .. 432 581 367 4,553 2,198 0 0 Private .. .. .. 574 4,681 158 414 2,158 0 0Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0Debt stock reduction .. .. .. 0 5 0 0 11,600 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. .. 4,971 1,200 50,240 -3,102 -14,732 -7,536 -4,950 Net flows on debt .. .. .. 7,300 7,555 21,912 -4,174 -2,805 -3,898 -2,731 Net change in interest arrears .. .. .. 1,501 -4,649 1,943 1,994 -2,114 841 -1,049 Interest capitalized .. .. .. 1,006 5,263 524 4,967 4,356 0 0 Debt forgiveness or reduction .. .. .. 0 -5 0 0 -11,600 0 0 Cross-currency valuation .. .. .. -4,084 -7,109 3,014 -5,639 -2,990 -1,801 4,815 Residual .. .. .. -752 145 18,749 -249 421 -2,678 -5,985

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. 6.8 7.8 9.8 4.0 5.1 5.2 2.6 Maturity (years) .. .. .. 10.6 13.2 14.6 11.5 9.9 13.3 15.5 Grace period (years) .. .. .. 4.1 6.6 13.3 2.9 2.7 2.3 4.9 Grant element (%) .. .. .. 14.8 12.4 -2.3 27.0 17.1 23.1 44.1Official creditors Interest (%) .. .. .. 6.3 6.3 6.4 3.6 7.3 5.3 2.6 Maturity (years) .. .. .. 12.1 17.4 10.6 12.3 16.8 13.6 16.2 Grace period (years) .. .. .. 3.7 5.2 4.1 3.8 5.3 2.3 5.0 Grant element (%) .. .. .. 17.6 21.3 16.6 30.7 16.0 23.1 45.3Private creditors Interest (%) .. .. .. 8.1 9.2 10.5 5.1 4.3 3.0 2.8 Maturity (years) .. .. .. 7.0 9.0 15.5 9.3 7.3 7.0 6.5 Grace period (years) .. .. .. 5.0 8.0 15.3 0.3 1.7 2.0 3.5 Grant element (%) .. .. .. 8.1 3.5 -6.3 17.0 17.5 23.7 26.9Memorandum items Commitments .. .. .. 6,957 8,315 14,235 1,671 106 912 812 Official creditors .. .. .. 4,891 4,152 2,464 1,225 30 874 756 Private creditors .. .. .. 2,067 4,163 11,771 446 76 38 56


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 898 674 376 239 198 139 96 66 41 30Principal 12,086 9,650 12,413 7,287 11,638 7,493 8,845 6,845 6,145 5,797Interest 6,770 6,277 5,704 5,184 4,976 4,691 4,342 3,892 3,561 3,225Official creditors Disbursements 663 553 330 234 197 139 96 66 41 30Principal 4,243 3,700 4,256 3,636 3,962 4,116 4,248 4,188 3,973 3,919Interest 2,776 2,679 2,544 2,375 2,232 2,073 1,911 1,728 1,530 1,321 Bilateral creditors Disbursements 274 158 71 27 18 0 0 0 0 0 Principal 3,476 2,847 3,397 2,852 3,155 3,342 3,505 3,464 3,329 3,405 Interest 2,574 2,492 2,374 2,224 2,101 1,963 1,819 1,656 1,478 1,285 Multilateral creditors Disbursements 389 395 259 207 179 138 96 66 41 30 Principal 767 853 859 784 807 774 743 724 643 513 Interest 202 187 170 151 131 111 92 72 53 36Private creditors Disbursements 235 120 46 5 1 0 0 0 0 0Principal 7,843 5,950 8,157 3,651 7,676 3,377 4,597 2,657 2,172 1,878Interest 3,994 3,598 3,159 2,808 2,744 2,618 2,431 2,164 2,031 1,904 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 449 2 1 0 0 0 0 0 0 0 Interest 34 0 0 0 0 0 0 0 0 0 Other private Disbursements 235 120 46 5 1 0 0 0 0 0 Principal 7,394 5,948 8,156 3,651 7,676 3,377 4,597 2,657 2,172 1,878 Interest 3,960 3,598 3,159 2,808 2,744 2,618 2,431 2,164 2,031 1,904

432RWANDA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 5 190 712 1,043 1,111 1,226 1,292 1,271 1,283 1,435Long-term debt (LDOD) 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305Public and publicly guaranteed 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 3 14 0 24 40 56 76 86 84 85Short-term debt 0 26 47 34 77 49 54 39 36 45of which interest arrears on LDOD 0 0 2 20 29 15 16 17 17 17 Official creditors 0 0 2 20 29 15 16 17 16 17 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 8 56 68 61 67 74 73 78 Official creditors 0 0 8 54 66 60 66 73 72 77 Private creditors 0 0 0 2 1 1 1 1 1 1Memo: export credits 0 0 41 32 26 10 10 11 10 11

TOTAL DEBT FLOWS Disbursements 0 34 62 62 92 104 111 65 76 85Long-term debt 0 27 62 62 72 88 82 40 64 85IMF purchases 0 6 0 0 20 16 29 25 12 1Principal repayments 1 3 10 10 13 11 20 24 12 14Long-term debt 0 3 9 9 10 9 12 13 10 12IMF repurchases 1 0 1 1 2 2 8 11 2 2Net flows on debt -1 36 54 52 114 79 95 25 62 80of which short-term debt 0 5 2 0 34 -14 4 -16 -2 9Interest payments (INT) 0 5 11 7 10 9 11 11 7 8Long-term debt 0 2 6 6 7 6 8 8 5 7IMF charges 0 0 0 1 1 2 1 1 1 1Short-term debt 0 3 5 1 2 2 2 1 1 0Net transfers on debt -1 31 43 45 104 69 84 14 55 72Total debt service paid (TDS) 1 8 21 18 22 21 31 35 18 22Long-term debt 0 4 15 15 17 15 20 21 15 19IMF repurchases and charges 1 0 1 2 3 4 10 13 3 3Short-term debt (interest only) 0 3 5 1 2 2 2 1 1 0



NET TRANSFERS 10 98 194 380 177 279 291 235 204 233Interest on long-term debt 0 2 6 6 7 6 8 8 5 7Profit remittances on FDI 0 9 6 2 4 0 1 3 3 0Memo: official net transfers 10 93 194 380 178 273 290 230 203 230 private net transfers 0 4 0 0 -1 7 1 5 1 2


Gross national income (GNI) 220 1,165 2,572 1,368 1,835 1,983 1,920 1,795 1,680 1,716Exports of goods, serv. & inc. (XGS) .. 198 148 89 158 121 120 145 179 148Worker remit. & comp. of employees 0 1 1 0 5 0 0 7 8 7Imports of goods & services (MGS) .. 361 375 388 502 439 459 452 468 462International reserves (RES) 8 196 44 107 153 169 174 191 212 244Current account balance .. -52 -85 -9 -62 -83 -141 -94 -102 -126

4. DEBT INDICATORS

EDT / XGS (%) .. 95.9 481.1 1,174.2 704.4 1,011.2 1,076.2 875.7 717.8 969.5EDT / GNI (%) 2.2 16.3 27.7 76.2 60.5 61.8 67.3 70.8 76.4 83.6TDS / XGS (%) .. 3.8 14.2 19.8 14.1 17.1 26.2 24.1 10.3 14.9INT / XGS (%) .. 2.5 7.6 8.3 6.1 7.7 9.4 7.7 3.7 5.2INT / GNI (%) 0.0 0.4 0.4 0.5 0.5 0.5 0.6 0.6 0.4 0.5RES / EDT (%) 157.8 103.3 6.2 10.2 13.8 13.8 13.5 15.0 16.5 17.0RES / MGS (months) .. 6.5 1.4 3.3 3.7 4.6 4.6 5.1 5.4 6.3Short-term / EDT (%) 0.0 13.7 6.6 3.3 6.9 4.0 4.2 3.0 2.8 3.2Concessional / EDT (%) 31.0 74.4 92.6 93.6 88.7 90.9 89.7 90.1 90.5 90.8Multilateral / EDT (%) 1.3 47.8 76.2 79.9 76.5 78.3 78.0 78.3 79.1 80.5

433RWANDA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305Public and publicly guaranteed 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305Official creditors 2 143 661 983 992 1,118 1,160 1,145 1,162 1,303 Multilateral 0 91 542 834 850 959 1,008 995 1,014 1,155 Concessional 0 90 541 833 850 959 1,008 995 1,014 1,155 Bilateral 1 52 119 149 142 159 152 150 147 148 Concessional 1 51 118 143 136 155 150 150 147 148Private creditors 0 8 4 2 1 1 1 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 8 4 2 1 1 1 1 1 1Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 58 340 536 558 639 691 692 713 826



NET FLOWS ON DEBT 0 25 53 53 62 79 70 27 54 73Public and publicly guaranteed 0 25 53 53 62 79 70 27 54 73Official creditors 0 27 55 53 62 79 70 27 54 73 Multilateral 0 20 32 55 59 81 72 29 58 78 Concessional 0 20 32 55 59 81 72 29 58 78 Bilateral 0 7 23 -1 3 -2 -2 -2 -4 -5 Concessional 0 7 22 -1 2 0 -1 -1 -4 -5Private creditors 0 -2 -2 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 -2 -2 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 21 38 48 62 63 31 50 73

434RWANDA



NET TRANSFERS ON DEBT 0 23 47 47 55 73 62 19 49 66Public and publicly guaranteed 0 23 47 47 55 73 62 19 49 66Official creditors 0 26 49 47 55 73 62 19 49 66 Multilateral 0 20 28 49 52 75 65 22 55 73 Concessional 0 19 28 49 52 75 65 22 55 73 Bilateral 0 6 22 -2 3 -2 -3 -3 -6 -7 Concessional 0 6 21 -1 2 -1 -2 -2 -6 -7Private creditors 0 -3 -2 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 -3 -2 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 18 35 43 57 59 26 47 71


UNDISBURSED DEBT 10 110 465 297 254 226 243 242 317 353Official creditors 10 110 459 297 254 226 243 242 317 353Private creditors 0 0 6 0 0 0 0 0 0 0Memorandum items Concessional LDOD 2 141 659 977 985 1,114 1,158 1,145 1,162 1,303 Variable rate LDOD 0 0 0 0 0 0 0 0 0 0 Public sector LDOD 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305 Private sector LDOD 0 0 0 0 0 0 0 0 0 0



435RWANDA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 88 15 68 115 66 -21 12 152 Net flows on debt -1 36 54 52 114 79 95 25 62 80 Net change in interest arrears .. .. 0 2 9 -13 1 1 0 1 Interest capitalized .. .. 0 0 0 15 1 1 0 0 Debt forgiveness or reduction .. .. 0 0 0 -1 0 0 -11 -14 Cross-currency valuation .. .. 9 -70 -77 -13 -27 -37 -30 61 Residual .. .. 24 30 22 48 -4 -10 -9 24



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


436SAMOA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 2.4 11.2 15.4 3.7 2.7 3.2 0.0 6.7 3.3 2.8Long-term debt 2.4 10.5 15.4 3.7 2.7 3.2 0.0 6.7 3.3 2.8IMF purchases 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 0.1 2.8 4.1 3.1 3.2 2.8 3.3 4.2 3.5 3.5Long-term debt 0.1 2.3 3.3 3.1 3.2 2.8 3.3 4.2 3.5 3.5IMF repurchases 0.0 0.5 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt 2.3 8.4 11.3 2.4 3.4 18.2 6.8 16.8 10.7 15.8of which short-term debt 0.0 0.0 0.1 1.8 3.9 17.8 10.1 14.3 10.9 16.6Interest payments (INT) 0.0 2.7 1.3 1.9 1.8 2.3 3.2 4.3 3.9 4.3Long-term debt 0.0 2.3 1.2 1.6 1.5 1.4 1.4 1.4 1.3 1.3IMF charges 0.0 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 0.2 0.0 0.3 0.3 0.8 1.7 2.9 2.6 3.0Net transfers on debt 2.3 5.7 9.9 0.5 1.6 15.9 3.6 12.5 6.8 11.6Total debt service paid (TDS) 0.1 5.5 5.5 5.0 5.0 5.1 6.5 8.5 7.4 7.8Long-term debt 0.1 4.6 4.4 4.7 4.7 4.2 4.8 5.6 4.8 4.8IMF repurchases and charges 0.0 0.7 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) 0.0 0.2 0.0 0.3 0.3 0.8 1.7 2.9 2.6 3.0


NET RESOURCE FLOWS 2.3 17.0 38.9 14.8 27.1 15.3 4.4 5.8 20.9 18.3Net flow of long-term debt (ex. IMF) 2.3 8.2 12.1 0.6 -0.5 0.4 -3.3 2.5 -0.2 -0.7Foreign direct investment (net) 0.0 0.0 6.6 1.2 20.0 3.0 2.0 -1.5 1.2 1.3Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 0.0 8.8 20.2 13.1 7.6 11.9 5.8 4.9 19.9 17.8Memo: technical coop. grants 0.9 9.8 13.5 20.3 21.1 19.6 19.1 17.6 17.3 20.6 official net resource flows 2.4 18.9 32.3 13.6 7.1 12.3 2.4 7.3 19.7 17.0 private net resource flows -0.1 -1.8 6.6 1.2 20.0 3.0 2.0 -1.5 1.2 1.3

NET TRANSFERS 2.3 14.8 37.7 13.2 25.6 13.9 2.4 4.4 19.6 17.0Interest on long-term debt 0.0 2.3 1.2 1.6 1.5 1.4 1.4 1.4 1.3 1.3Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 0.0Memo: official net transfers 2.4 17.5 31.2 12.0 5.6 10.9 1.0 5.9 18.4 15.7 private net transfers -0.1 -2.7 6.5 1.2 20.0 3.0 1.4 -1.5 1.2 1.3


Gross national income (GNI) .. .. 164.3 227.0 244.5 225.8 232.6 233.7 242.9 260.0Exports of goods, serv. & inc. (XGS) .. 44.4 94.1 123.3 130.5 129.1 126.9 123.3 .. ..Worker remit. & comp. of employees 0.0 19.0 42.9 44.3 46.6 42.0 42.0 42.0 42.0 42.0Imports of goods & services (MGS) .. 74.3 96.5 127.5 144.3 128.4 142.6 136.4 .. ..International reserves (RES) 5.2 2.8 69.0 60.8 64.2 61.4 68.2 63.7 56.6 62.5Current account balance .. -12.9 8.6 12.3 9.1 20.1 -18.8 .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 135.5 97.7 135.4 119.8 139.4 151.6 160.1 .. ..EDT / GNI (%) .. .. 56.0 73.5 64.0 79.8 82.7 84.5 84.1 90.1TDS / XGS (%) .. 12.3 5.8 4.0 3.8 3.9 5.1 6.9 .. ..INT / XGS (%) .. 6.0 1.4 1.5 1.4 1.7 2.5 3.5 .. ..INT / GNI (%) .. .. 0.8 0.8 0.7 1.0 1.4 1.8 1.6 1.6RES / EDT (%) 194.6 4.6 75.1 36.4 41.1 34.1 35.4 32.2 27.7 26.7RES / MGS (months) .. 0.4 8.6 5.7 5.3 5.7 5.7 5.6 .. ..Short-term / EDT (%) 0.0 1.7 0.2 2.5 5.1 14.3 18.6 25.4 29.9 33.1Concessional / EDT (%) 89.5 56.2 90.5 94.0 91.9 83.3 79.7 73.4 69.2 66.1Multilateral / EDT (%) 89.5 54.2 88.2 91.1 88.3 80.2 76.5 70.0 63.3 60.8

437SAMOA


5. LONG-TERM DEBT




NET FLOWS ON DEBT 2.3 8.2 12.1 0.6 -0.5 0.4 -3.3 2.5 -0.2 -0.7Public and publicly guaranteed 2.3 8.2 12.1 0.6 -0.5 0.4 -3.3 2.5 -0.2 -0.7Official creditors 2.4 10.0 12.1 0.6 -0.5 0.4 -3.3 2.5 -0.2 -0.7 Multilateral 2.4 10.2 12.8 0.9 -0.2 0.7 -2.7 2.7 0.2 -1.0 Concessional 2.4 10.2 12.7 1.4 0.4 1.3 -2.1 3.2 0.6 -0.6 Bilateral 0.0 -0.1 -0.7 -0.3 -0.3 -0.3 -0.6 -0.2 -0.4 0.2 Concessional 0.0 0.0 0.3 -0.3 -0.3 -0.3 -0.6 -0.2 -0.4 0.2Private creditors -0.1 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 -0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private -0.1 -1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 2.0 3.4 -0.3 0.5 2.2 -0.4 5.0 2.1 0.4

438SAMOA



NET TRANSFERS ON DEBT 2.3 5.9 10.9 -1.1 -2.0 -1.0 -4.8 1.1 -1.5 -2.0Public and publicly guaranteed 2.3 5.9 10.9 -1.1 -2.0 -1.0 -4.8 1.1 -1.5 -2.0Official creditors 2.4 8.6 11.0 -1.1 -2.0 -1.0 -4.8 1.1 -1.5 -2.0 Multilateral 2.4 9.9 12.0 -0.7 -1.6 -0.6 -4.1 1.3 -1.1 -2.2 Concessional 2.4 9.9 12.0 0.0 -1.0 0.1 -3.4 1.9 -0.6 -1.8 Bilateral 0.0 -1.3 -1.1 -0.4 -0.4 -0.4 -0.7 -0.3 -0.4 0.1 Concessional 0.0 -0.1 0.2 -0.4 -0.4 -0.4 -0.7 -0.3 -0.4 0.1Private creditors -0.1 -2.7 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 -0.3 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 -1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private -0.1 -1.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 2.0 3.3 -0.6 0.2 1.9 -0.7 4.7 1.7 0.0





439SAMOA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 18.3 -3.4 -10.6 23.7 12.3 5.0 6.9 30.0 Net flows on debt 2.3 8.4 11.3 2.4 3.4 18.2 6.8 16.8 10.7 15.8 Net change in interest arrears .. .. -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 6.0 -8.4 -15.4 3.6 0.1 -10.2 -7.6 12.6 Residual .. .. 1.1 2.6 1.5 2.0 5.4 -1.5 3.8 1.6



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


440SAO TOME AND PRINCIPE


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements .. 9.9 15.6 11.2 5.1 6.6 16.1 11.1 8.3 3.9Long-term debt .. 9.9 15.6 11.2 5.1 6.6 16.1 8.6 8.3 3.9IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 2.5 0.0 0.0Principal repayments .. 0.9 1.1 1.6 1.9 2.2 2.7 2.2 1.7 3.4Long-term debt .. 0.9 1.1 1.3 1.6 2.0 2.6 2.2 1.7 3.4IMF repurchases .. 0.0 0.0 0.2 0.2 0.2 0.1 0.0 0.0 0.0Net flows on debt .. 7.0 9.2 4.7 5.2 5.4 20.4 8.9 4.6 5.5of which short-term debt .. -2.0 -5.3 -5.0 2.0 1.0 7.0 0.0 -2.0 5.0Interest payments (INT) .. 0.3 1.7 1.5 1.7 1.6 1.7 2.0 2.2 2.7Long-term debt .. 0.2 1.2 1.4 1.5 1.3 1.4 1.2 1.8 2.5IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. 0.1 0.5 0.1 0.2 0.3 0.3 0.8 0.4 0.2Net transfers on debt .. 6.7 7.4 3.2 3.4 3.8 18.7 6.9 2.3 2.8Total debt service paid (TDS) .. 1.2 2.8 3.1 3.6 3.8 4.4 4.2 3.9 6.1Long-term debt .. 1.1 2.3 2.7 3.2 3.3 4.0 3.4 3.5 5.9IMF repurchases and charges .. 0.0 0.0 0.2 0.2 0.2 0.1 0.0 0.0 0.0Short-term debt (interest only) .. 0.1 0.5 0.1 0.2 0.3 0.3 0.8 0.4 0.2


NET RESOURCE FLOWS .. 11.7 41.1 28.1 19.9 19.8 25.8 23.6 24.1 13.9Net flow of long-term debt (ex. IMF) .. 9.0 14.4 9.9 3.4 4.7 13.5 6.4 6.6 0.5Foreign direct investment (net) .. 0.0 0.0 0.3 0.1 4.2 3.0 3.8 3.5 3.0Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. 2.7 26.7 17.9 16.4 10.9 9.3 13.3 14.1 10.4Memo: technical coop. grants .. 1.3 7.0 16.7 13.0 12.4 15.0 11.9 10.5 11.8 official net resource flows .. 11.7 41.3 27.8 19.8 15.6 22.8 19.8 20.6 10.9 private net resource flows .. 0.0 -0.1 0.3 0.1 4.2 3.0 3.8 3.5 3.0

NET TRANSFERS .. 11.5 39.9 26.7 18.4 18.5 24.4 22.3 22.3 11.4Interest on long-term debt .. 0.2 1.2 1.4 1.5 1.3 1.4 1.2 1.8 2.5Profit remittances on FDI .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: official net transfers .. 11.5 40.1 26.4 18.3 14.3 21.4 18.5 18.8 8.4 private net transfers .. 0.0 -0.2 0.3 0.1 4.2 3.0 3.8 3.5 3.0


Gross national income (GNI) .. 49.2 52.5 40.2 39.1 35.8 42.2 43.5 43.3 46.4Exports of goods, serv. & inc. (XGS) .. 23.3 8.2 .. .. 11.8 16.9 16.7 16.7 19.2Worker remit. & comp. of employees .. 1.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. 22.0 22.4 .. .. 32.4 39.1 39.7 41.1 46.2International reserves (RES) .. .. .. 5.0 12.4 9.7 10.9 11.6 15.5 17.4Current account balance .. 0.7 -12.0 .. .. -10.5 -16.3 -19.1 -21.0 -22.8

4. DEBT INDICATORS

EDT / XGS (%) .. 100.7 1,820.9 .. .. 2,176.9 1,887.1 1,885.3 1,876.5 1,738.7EDT / GNI (%) .. 47.6 286.0 582.1 606.1 717.5 756.4 724.2 722.3 717.9TDS / XGS (%) .. 5.0 34.4 .. .. 32.1 25.8 25.2 23.7 31.8INT / XGS (%) .. 1.1 20.7 .. .. 13.6 9.8 12.1 13.5 14.1INT / GNI (%) .. 0.5 3.3 3.7 4.5 4.5 3.9 4.7 5.2 5.8RES / EDT (%) .. .. .. 2.1 5.2 3.8 3.4 3.7 5.0 5.2RES / MGS (months) .. .. .. .. .. 3.6 3.3 3.5 4.5 4.5Short-term / EDT (%) .. 0.0 10.7 3.4 4.5 5.5 9.2 6.0 5.4 6.9Concessional / EDT (%) .. 83.6 71.7 93.0 92.4 91.9 88.8 88.3 88.4 86.6Multilateral / EDT (%) .. 45.0 48.4 66.3 63.6 65.1 53.2 53.7 54.0 55.3



5. LONG-TERM DEBT




NET FLOWS ON DEBT .. 9.0 14.4 9.9 3.4 4.7 13.5 6.4 6.6 0.5Public and publicly guaranteed .. 9.0 14.4 9.9 3.4 4.7 13.5 6.4 6.6 0.5Official creditors .. 9.0 14.6 9.9 3.4 4.7 13.5 6.4 6.6 0.5 Multilateral .. 6.5 12.4 10.2 3.8 5.0 13.7 6.6 6.5 0.4 Concessional .. 6.5 11.3 10.5 3.9 5.2 9.5 4.2 5.8 0.5 Bilateral .. 2.5 2.2 -0.3 -0.3 -0.3 -0.3 -0.1 0.1 0.0 Concessional .. 1.2 2.7 0.0 0.0 0.0 0.1 0.2 0.1 0.3Private creditors .. 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 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 0.0 Other private .. 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 5.4 7.9 1.3 1.7 0.7 1.3 4.8 0.9




NET TRANSFERS ON DEBT .. 8.8 13.2 8.5 1.9 3.3 12.1 5.2 4.7 -2.0Public and publicly guaranteed .. 8.8 13.2 8.5 1.9 3.3 12.1 5.2 4.7 -2.0Official creditors .. 8.8 13.4 8.5 1.9 3.3 12.1 5.2 4.7 -2.0 Multilateral .. 6.5 12.1 9.0 2.8 3.8 12.5 5.3 6.0 -0.8 Concessional .. 6.5 11.0 9.3 3.0 4.0 8.3 3.0 5.3 -0.7 Bilateral .. 2.4 1.3 -0.5 -0.9 -0.5 -0.4 -0.1 -1.3 -1.2 Concessional .. 1.2 2.7 -0.1 -0.6 -0.1 -0.1 0.2 -0.8 -0.6Private creditors .. 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 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 0.0 Other private .. 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 5.3 7.4 0.9 1.3 0.3 0.8 4.6 0.9









8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 15.6 -10.7 2.8 20.0 62.6 -4.5 -2.3 20.6 Net flows on debt .. 7.0 9.2 4.7 5.2 5.4 20.4 8.9 4.6 5.5 Net change in interest arrears .. .. 1.3 -0.2 0.8 2.5 8.3 -10.3 -0.1 1.0 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.2 9.8 1.0 1.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 -9.7 -1.4 -2.1 Cross-currency valuation .. .. 2.3 -5.0 -7.5 -3.2 7.9 -7.6 -7.6 2.2 Residual .. .. 2.9 -10.2 4.4 15.3 25.9 4.4 1.2 13.2



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


444SENEGAL


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 20 395 252 216 270 255 92 148 273 253Long-term debt 20 327 223 181 221 206 72 129 244 241IMF purchases 0 68 29 35 49 48 20 19 30 12Principal repayments 9 165 197 160 158 215 161 144 142 147Long-term debt 9 156 142 116 95 155 129 123 120 124IMF repurchases 0 8 55 44 63 60 33 21 23 23Net flows on debt 11 246 222 -14 143 100 -34 -157 185 198of which short-term debt 0 16 167 -70 31 60 35 -161 54 92Interest payments (INT) 2 95 128 129 89 106 76 74 63 72Long-term debt 2 67 84 119 75 89 58 57 56 66IMF charges 0 3 15 3 3 2 1 1 1 1Short-term debt 0 24 29 7 11 15 17 15 6 5Net transfers on debt 8 151 94 -143 53 -7 -111 -231 122 126Total debt service paid (TDS) 12 259 325 289 248 321 237 217 206 219Long-term debt 12 223 226 234 171 244 186 180 176 190IMF repurchases and charges 0 12 70 48 66 63 34 22 24 24Short-term debt (interest only) 0 24 29 7 11 15 17 15 6 5


NET RESOURCE FLOWS 32 262 692 408 549 377 480 315 304 388Net flow of long-term debt (ex. IMF) 11 170 81 66 126 52 -56 6 124 117Foreign direct investment (net) 5 15 57 8 176 71 157 63 32 93Portfolio equity flows 0 0 1 0 8 3 3 0 0 0Grants (excluding technical coop.) 16 77 553 334 238 252 376 246 148 178Memo: technical coop. grants 21 123 175 171 154 133 126 124 141 159 official net resource flows 22 244 649 411 349 319 325 254 231 294 private net resource flows 10 18 43 -2 199 58 154 62 73 94

NET TRANSFERS 29 161 548 276 457 243 348 211 203 282Interest on long-term debt 2 67 84 119 75 89 58 57 56 66Profit remittances on FDI 0 34 60 14 17 45 74 47 45 40Memo: official net transfers 19 223 578 295 275 231 268 197 179 230 private net transfers 10 -62 -30 -19 181 12 80 14 24 52


Gross national income (GNI) 855 2,887 5,502 4,564 4,302 4,599 4,658 4,283 4,523 4,897Exports of goods, serv. & inc. (XGS) .. 905 1,628 1,530 1,437 1,560 1,656 1,502 1,570 1,696Worker remit. & comp. of employees 0 77 142 151 151 147 186 184 174 174Imports of goods & services (MGS) .. 1,337 2,053 1,814 1,708 1,888 2,006 1,943 2,024 2,254International reserves (RES) 22 25 22 288 386 431 403 384 447 637Current account balance .. -386 -363 -200 -185 -247 -320 -318 -271 -478

4. DEBT INDICATORS


445SENEGAL


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 145 1,114 3,000 3,182 3,181 3,318 3,186 3,027 3,033 3,372Public and publicly guaranteed 114 1,105 2,940 3,143 3,126 3,295 3,172 3,014 2,982 3,339Official creditors 100 653 2,759 3,128 3,115 3,285 3,163 3,006 2,972 3,326 Multilateral 13 263 1,366 1,852 1,815 1,967 1,903 1,850 1,893 2,180 Concessional 9 179 1,153 1,612 1,619 1,773 1,732 1,707 1,765 2,058 Bilateral 87 390 1,393 1,276 1,301 1,317 1,259 1,156 1,079 1,147 Concessional 78 221 815 701 797 1,027 978 908 869 929Private creditors 14 452 181 14 11 11 9 8 10 13 Bonds 0 4 0 0 0 0 0 0 0 0 Commercial banks 0 129 129 11 10 10 9 8 8 9 Other private 14 319 52 3 1 1 0 0 2 3Private nonguaranteed 31 9 60 39 55 22 14 13 51 33 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 31 9 60 39 55 22 14 13 51 33Memo: IBRD 2 57 88 23 14 9 4 1 0 0 IDA 9 100 747 1,194 1,187 1,301 1,310 1,330 1,384 1,578



NET FLOWS ON DEBT 11 170 81 66 126 52 -56 6 124 117Public and publicly guaranteed 13 175 78 70 110 67 -51 7 85 117Official creditors 6 167 96 77 111 67 -51 7 83 116 Multilateral 4 90 77 66 59 80 -10 55 131 145 Concessional 4 63 98 91 79 95 10 65 138 158 Bilateral 1 77 19 10 52 -13 -41 -47 -48 -29 Concessional 2 43 47 26 73 6 -32 -29 -38 -12Private creditors 7 8 -19 -6 -2 -1 0 0 2 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -35 -8 -5 0 0 0 0 0 0 Other private 7 43 -11 -1 -1 -1 0 0 2 1Private nonguaranteed -2 -4 4 -5 16 -15 -5 -1 39 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -2 -4 4 -5 16 -15 -5 -1 39 0Memo: IBRD 1 16 -13 -10 -7 -5 -4 -3 -1 0 IDA 4 12 114 103 52 74 37 81 109 108

446SENEGAL



NET TRANSFERS ON DEBT 8 103 -3 -53 50 -37 -114 -51 68 51Public and publicly guaranteed 10 108 -4 -47 35 -22 -108 -49 33 53Official creditors 3 146 25 -40 37 -21 -108 -49 31 52 Multilateral 4 84 51 29 32 45 -39 30 113 117 Concessional 4 62 88 74 65 77 -7 50 124 141 Bilateral -1 62 -27 -68 5 -66 -69 -79 -81 -65 Concessional 1 37 27 -37 58 -14 -49 -53 -58 -36Private creditors 7 -38 -29 -7 -2 -1 0 0 2 1 Bonds 0 -1 0 0 0 0 0 0 0 0 Commercial banks 0 -58 -15 -6 0 0 0 0 0 0 Other private 7 21 -14 -1 -2 -1 0 0 2 1Private nonguaranteed -2 -5 1 -6 15 -16 -6 -2 35 -2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -2 -5 1 -6 15 -16 -6 -2 35 -2Memo: IBRD 1 12 -19 -12 -9 -7 -5 -3 -1 0 IDA 4 11 110 94 44 65 27 73 100 98


UNDISBURSED DEBT 42 604 976 813 746 732 798 942 1,087 1,077Official creditors 37 563 966 812 746 732 798 937 1,085 1,077Private creditors 5 41 9 1 1 0 0 5 3 1Memorandum items Concessional LDOD 87 400 1,968 2,313 2,416 2,801 2,709 2,615 2,634 2,987 Variable rate LDOD 31 141 140 254 236 193 166 140 164 142 Public sector LDOD 112 1,079 2,903 3,142 3,126 3,295 3,172 3,014 2,982 3,339 Private sector LDOD 33 35 97 39 55 22 14 13 51 33



447SENEGAL




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 465 -180 -3 196 -117 -338 54 436 Net flows on debt 11 246 222 -14 143 100 -34 -157 185 198 Net change in interest arrears .. .. -7 -8 0 0 0 0 0 1 Interest capitalized .. .. 27 28 1 0 0 0 0 0 Debt forgiveness or reduction .. .. -18 -62 -4 -16 0 -12 -21 -26 Cross-currency valuation .. .. 30 -383 -500 -181 -166 -155 -96 233 Residual .. .. 211 259 357 294 83 -13 -15 31



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


448SERBIA AND MONTENEGRO


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 9,762 10,968 11,250 11,253 11,851 12,515 12,688Long-term debt (LDOD) .. .. .. 7,731 7,124 7,243 6,845 6,828 6,628 8,793Public and publicly guaranteed .. .. .. 6,566 6,148 6,500 6,234 6,217 6,226 8,514Private nonguaranteed .. .. .. 1,165 976 743 611 611 402 279Use of IMF credit .. .. .. 81 76 79 76 152 273 567Short-term debt .. .. .. 1,951 3,769 3,928 4,332 4,871 5,614 3,328of which interest arrears on LDOD .. .. .. 1,665 1,755 2,619 3,190 3,981 4,589 2,308 Official creditors .. .. .. 791 812 1,597 2,101 2,833 3,442 993 Private creditors .. .. .. 874 943 1,022 1,089 1,148 1,148 1,315Memo: principal arrears on LDOD .. .. .. 3,983 3,961 4,955 4,889 5,314 6,199 2,374 Official creditors .. .. .. 2,924 2,964 3,851 3,664 3,678 4,563 1,160 Private creditors .. .. .. 1,059 997 1,104 1,225 1,636 1,636 1,214Memo: export credits .. .. .. 448 582 1,620 1,965 1,918 1,899 1,657

TOTAL DEBT FLOWS Disbursements .. .. .. 0 0 0 0 376 325 609Long-term debt .. .. .. 0 0 0 0 222 198 350IMF purchases .. .. .. 0 0 0 0 154 127 259Principal repayments .. .. .. 1 0 0 1 73 31 6Long-term debt .. .. .. 0 0 0 0 0 31 6IMF repurchases .. .. .. 1 0 0 1 73 0 0Net flows on debt .. .. .. -458 1,728 -705 -168 51 429 598of which short-term debt .. .. .. -457 1,728 -705 -167 -252 135 -5Interest payments (INT) .. .. .. 17 53 65 41 47 76 144Long-term debt .. .. .. 0 0 0 0 0 16 100IMF charges .. .. .. 0 0 0 0 29 7 12Short-term debt .. .. .. 17 53 65 41 18 52 33Net transfers on debt .. .. .. -476 1,676 -770 -209 4 353 454Total debt service paid (TDS) .. .. .. 19 53 65 42 120 107 150Long-term debt .. .. .. 0 0 0 0 0 47 106IMF repurchases and charges .. .. .. 1 0 0 1 102 7 12Short-term debt (interest only) .. .. .. 17 53 65 41 18 52 33


NET RESOURCE FLOWS .. .. .. 465 872 288 1,202 1,545 1,546 3,147Net flow of long-term debt (ex. IMF) .. .. .. 0 0 0 0 222 167 344Foreign direct investment (net) .. .. .. 0 740 113 112 25 165 475Portfolio equity flows .. .. .. 0 0 0 0 0 0 0Grants (excluding technical coop.) .. .. .. 465 132 175 1,090 1,298 1,214 2,328Memo: technical coop. grants .. .. .. 31 34 43 45 125 224 298 official net resource flows .. .. .. 465 132 175 1,090 1,485 1,371 2,640 private net resource flows .. .. .. 0 740 113 112 60 175 507

NET TRANSFERS .. .. .. 465 872 288 1,202 1,545 1,530 3,047Interest on long-term debt .. .. .. 0 0 0 0 0 16 100Profit remittances on FDI .. .. .. 0 0 0 0 0 0 0Memo: official net transfers .. .. .. 465 132 175 1,090 1,485 1,355 2,541 private net transfers .. .. .. 0 740 113 112 60 175 506


Gross national income (GNI) .. .. .. .. .. .. 9,800 8,082 11,550 15,569Exports of goods, serv. & inc. (XGS) .. .. .. 4,071 4,295 5,037 3,138 3,732 4,489 5,392Worker remit. & comp. of employees .. .. .. 0 0 0 0 0 1,397 1,397Imports of goods & services (MGS) .. .. .. 4,402 5,222 5,319 3,622 4,046 5,234 7,030International reserves (RES) .. .. .. .. .. .. .. .. .. ..Current account balance .. .. .. -617 -1,279 -660 -764 -327 -528 -1,384

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. 239.8 255.4 223.3 358.6 317.6 278.8 235.3EDT / GNI (%) .. .. .. .. .. .. 114.8 146.6 108.4 81.5TDS / XGS (%) .. .. .. 0.5 1.2 1.3 1.3 3.2 2.4 2.8INT / XGS (%) .. .. .. 0.4 1.2 1.3 1.3 1.3 1.7 2.7INT / GNI (%) .. .. .. .. .. .. 0.4 0.6 0.7 0.9RES / EDT (%) .. .. .. .. .. .. .. .. .. ..RES / MGS (months) .. .. .. .. .. .. .. .. .. ..Short-term / EDT (%) .. .. .. 20.0 34.4 34.9 38.5 41.1 44.9 26.2Concessional / EDT (%) .. .. .. 3.5 2.8 2.9 2.6 2.3 2.2 20.6Multilateral / EDT (%) .. .. .. 12.6 11.4 13.5 13.2 12.1 10.9 25.5



5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 7,731 7,124 7,243 6,845 6,828 6,628 8,793Public and publicly guaranteed .. .. .. 6,566 6,148 6,500 6,234 6,217 6,226 8,514Official creditors .. .. .. 4,385 4,167 4,550 4,298 4,282 4,281 6,072 Multilateral .. .. .. 1,234 1,251 1,520 1,484 1,440 1,369 3,234 Concessional .. .. .. 0 0 0 0 0 0 167 Bilateral .. .. .. 3,151 2,916 3,029 2,815 2,842 2,912 2,837 Concessional .. .. .. 343 307 324 288 272 277 2,452Private creditors .. .. .. 2,180 1,981 1,950 1,935 1,935 1,945 2,442 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 2,173 1,974 1,943 1,928 1,928 1,938 2,442 Other private .. .. .. 7 7 7 7 7 7 0Private nonguaranteed .. .. .. 1,165 976 743 611 611 402 279 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1,165 976 743 611 611 402 279Memo: IBRD .. .. .. 1,178 1,112 1,148 1,132 1,097 1,085 2,251 IDA .. .. .. 0 0 0 0 0 0 167



NET FLOWS ON DEBT .. .. .. 0 0 0 0 222 167 344Public and publicly guaranteed .. .. .. 0 0 0 0 222 167 311Official creditors .. .. .. 0 0 0 0 187 157 311 Multilateral .. .. .. 0 0 0 0 0 8 244 Concessional .. .. .. 0 0 0 0 0 0 159 Bilateral .. .. .. 0 0 0 0 187 149 68 Concessional .. .. .. 0 0 0 0 0 15 37Private creditors .. .. .. 0 0 0 0 35 10 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 10 0 Other private .. .. .. 0 0 0 0 35 0 0Private nonguaranteed .. .. .. 0 0 0 0 0 0 32 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 0 32Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 159




NET TRANSFERS ON DEBT .. .. .. 0 0 0 0 222 150 244Public and publicly guaranteed .. .. .. 0 0 0 0 222 150 213Official creditors .. .. .. 0 0 0 0 187 140 213 Multilateral .. .. .. 0 0 0 0 0 3 159 Concessional .. .. .. 0 0 0 0 0 0 159 Bilateral .. .. .. 0 0 0 0 187 137 53 Concessional .. .. .. 0 0 0 0 0 15 24Private creditors .. .. .. 0 0 0 0 35 10 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 10 0 Other private .. .. .. 0 0 0 0 35 0 0Private nonguaranteed .. .. .. 0 0 0 0 0 0 31 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 0 31Memo: IBRD .. .. .. 0 0 0 0 0 -5 -75 IDA .. .. .. 0 0 0 0 0 0 159


UNDISBURSED DEBT .. .. .. 212 187 0 300 299 502 856Official creditors .. .. .. 212 187 0 300 299 502 856Private creditors .. .. .. 0 0 0 0 0 0 0Memorandum items Concessional LDOD .. .. .. 343 307 324 288 272 277 2,619 Variable rate LDOD .. .. .. 5,409 4,911 4,697 4,452 4,443 4,347 6,713 Public sector LDOD .. .. .. 6,472 6,059 6,409 6,148 6,134 6,158 8,514 Private sector LDOD .. .. .. 1,259 1,065 834 696 694 470 279






Total amount rescheduled .. .. .. 0 0 0 0 0 215 4,848 Debt stock rescheduled .. .. .. 0 0 0 0 0 0 957 Principal rescheduled .. .. .. 0 0 0 0 0 52 1,306 Official .. .. .. 0 0 0 0 0 52 1,303 Private .. .. .. 0 0 0 0 0 0 3 Interest rescheduled .. .. .. 0 0 0 0 0 134 1,382 Official .. .. .. 0 0 0 0 0 134 1,380 Private .. .. .. 0 0 0 0 0 0 2Debt forgiven .. .. .. 0 0 0 0 0 0 858 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0Debt stock reduction .. .. .. 0 0 0 0 0 0 114 of which debt buyback .. .. .. 0 0 0 0 0 0 0

8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. .. -1,375 1,207 282 3 599 664 173 Net flows on debt .. .. .. -458 1,728 -705 -168 51 429 598 Net change in interest arrears .. .. .. -44 90 864 571 791 608 -2,281 Interest capitalized .. .. .. 0 0 0 0 0 134 1,382 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 0 -972 Cross-currency valuation .. .. .. -248 -318 163 -253 -164 -30 369 Residual .. .. .. -625 -294 -41 -147 -80 -477 1,078



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


452SEYCHELLES


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements .. 11.7 9.2 12.2 11.2 22.9 11.4 15.7 11.3 11.8Long-term debt .. 11.7 9.2 12.2 11.2 22.9 11.4 15.7 11.3 11.8IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments .. 0.1 12.7 10.3 9.5 13.3 16.5 7.8 7.0 10.9Long-term debt .. 0.1 12.7 10.3 9.5 13.3 16.5 7.8 7.0 10.9IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt .. -390.3 6.7 -2.2 8.8 33.4 -6.1 49.9 16.1 1.4of which short-term debt .. -402.0 10.2 -4.1 7.1 23.8 -1.0 42.0 11.7 0.5Interest payments (INT) .. 37.1 9.0 5.0 5.3 7.7 7.6 6.2 4.4 3.7Long-term debt .. 0.2 5.5 4.5 4.8 6.4 5.5 2.5 1.3 2.1IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. 36.9 3.6 0.5 0.5 1.3 2.1 3.7 3.0 1.7Net transfers on debt .. -427.5 -2.4 -7.3 3.4 25.7 -13.7 43.7 11.7 -2.3Total debt service paid (TDS) .. 37.2 21.7 15.4 14.8 21.0 24.0 14.0 11.3 14.6Long-term debt .. 0.3 18.2 14.9 14.3 19.6 21.9 10.3 8.3 13.0IMF repurchases and charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) .. 36.9 3.6 0.5 0.5 1.3 2.1 3.7 3.0 1.7


NET RESOURCE FLOWS .. 26.8 28.3 37.8 60.5 71.0 57.4 43.4 73.4 66.6Net flow of long-term debt (ex. IMF) .. 11.7 -3.5 1.8 1.7 9.6 -5.1 7.9 4.4 0.9Foreign direct investment (net) .. 9.5 20.2 28.8 53.4 53.2 55.2 24.3 59.4 61.4Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. 5.7 11.6 7.2 5.4 8.2 7.3 11.2 9.6 4.3Memo: technical coop. grants .. 8.0 10.3 10.3 7.4 5.9 5.1 3.5 3.6 4.3 official net resource flows .. 17.3 14.3 13.3 10.1 12.7 7.5 23.2 9.3 7.0 private net resource flows .. 9.5 14.0 24.5 50.4 58.3 49.9 20.2 64.0 59.6

NET TRANSFERS .. 19.0 14.5 23.7 49.7 58.6 44.3 33.9 66.0 58.6Interest on long-term debt .. 0.2 5.5 4.5 4.8 6.4 5.5 2.5 1.3 2.1Profit remittances on FDI .. 7.6 8.3 9.6 6.1 6.0 7.6 7.0 6.0 6.0Memo: official net transfers .. 17.1 10.8 10.2 6.5 8.1 2.8 21.7 9.0 6.5 private net transfers .. 1.9 3.7 13.5 43.2 50.5 41.5 12.2 57.1 52.1


Gross national income (GNI) .. 142.0 355.4 488.0 550.7 587.4 598.1 575.1 587.0 630.3Exports of goods, serv. & inc. (XGS) .. 102.8 240.6 344.2 379.1 375.8 431.4 498.2 522.4 552.1Worker remit. & comp. of employees .. 0.0 7.5 0.7 0.2 0.1 0.2 0.2 1.5 1.6Imports of goods & services (MGS) .. 131.4 264.6 406.6 453.0 492.1 558.0 543.9 643.3 677.5International reserves (RES) .. 18.4 16.6 21.8 26.3 21.6 30.3 43.8 37.1 69.8Current account balance .. -15.6 -13.0 -52.4 -66.1 -106.3 -116.8 -40.5 -117.9 -124.1

4. DEBT INDICATORS


453SEYCHELLES


5. LONG-TERM DEBT




NET FLOWS ON DEBT .. 11.7 -3.5 1.8 1.7 9.6 -5.1 7.9 4.4 0.9Public and publicly guaranteed .. 11.7 -3.5 1.8 1.7 9.6 -5.1 7.9 4.4 0.9Official creditors .. 11.7 2.8 6.1 4.7 4.5 0.2 12.0 -0.2 2.7 Multilateral .. 3.5 0.6 2.1 1.6 1.8 -2.7 2.0 0.4 0.1 Concessional .. 1.6 0.9 -0.1 -0.1 0.5 0.1 3.0 0.9 0.2 Bilateral .. 8.2 2.2 4.0 3.1 2.7 2.9 10.0 -0.7 2.7 Concessional .. 4.5 2.3 2.0 4.6 1.4 2.6 9.8 -0.6 2.8Private creditors .. 0.0 -6.2 -4.3 -3.0 5.1 -5.3 -4.1 4.6 -1.8 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 -5.5 -2.4 -1.0 2.1 -2.3 -1.3 5.4 -1.0 Other private .. 0.0 -0.8 -1.9 -1.9 3.0 -3.0 -2.8 -0.8 -0.8Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.8 -0.6 -0.4 -0.3 0.2 -0.6 -0.4 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

454SEYCHELLES



NET TRANSFERS ON DEBT .. 11.4 -9.0 -2.7 -3.1 3.2 -10.6 5.4 3.0 -1.1Public and publicly guaranteed .. 11.4 -9.0 -2.7 -3.1 3.2 -10.6 5.4 3.0 -1.1Official creditors .. 11.4 -0.8 3.0 1.0 -0.1 -4.5 10.5 -0.6 2.2 Multilateral .. 3.3 -1.9 -0.5 -1.4 -2.0 -6.4 1.1 0.1 -0.3 Concessional .. 1.6 0.6 -0.5 -0.6 0.0 -0.4 2.8 0.9 0.0 Bilateral .. 8.1 1.1 3.5 2.4 1.8 1.9 9.4 -0.8 2.5 Concessional .. 4.4 1.4 1.5 4.0 0.6 1.7 9.3 -0.7 2.6Private creditors .. 0.0 -8.2 -5.7 -4.1 3.3 -6.1 -5.1 3.7 -3.3 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 -7.2 -2.7 -1.2 1.4 -2.4 -1.5 5.0 -2.1 Other private .. 0.0 -1.0 -3.0 -2.9 2.0 -3.7 -3.6 -1.3 -1.2Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.4 -1.0 -0.7 -0.5 -0.1 -0.8 -0.5 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0





455SEYCHELLES




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 18.8 -11.0 1.1 37.9 -11.9 39.7 15.7 22.2 Net flows on debt .. -390.3 6.7 -2.2 8.8 33.4 -6.1 49.9 16.1 1.4 Net change in interest arrears .. .. 0.9 0.8 0.9 -0.1 -0.3 1.3 3.0 4.6 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 9.2 -9.4 -5.2 2.2 -4.2 -2.4 3.0 5.8 Residual .. .. 2.1 -0.2 -3.3 2.3 -1.2 -9.0 -6.4 10.3

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. 6.6 4.5 3.4 6.7 5.4 0.0 3.0 3.8 2.7 Maturity (years) .. 15.6 22.1 13.8 18.6 9.6 9.6 18.7 1.9 15.1 Grace period (years) .. 5.1 7.9 4.1 5.0 2.1 3.1 2.8 1.0 3.3 Grant element (%) .. 20.2 45.0 36.3 20.4 18.9 44.3 40.4 7.0 35.4Official creditors Interest (%) .. 6.6 3.3 3.3 6.7 4.0 0.0 3.0 0.0 3.1 Maturity (years) .. 15.7 25.0 14.3 18.6 11.5 9.6 18.7 0.0 20.2 Grace period (years) .. 5.1 9.0 4.3 5.0 4.0 3.1 2.8 0.0 4.9 Grant element (%) .. 20.3 52.9 37.7 20.4 30.1 44.3 40.4 0.0 45.9Private creditors Interest (%) .. 7.3 11.5 6.0 0.0 7.0 0.0 0.0 3.8 2.0 Maturity (years) .. 5.0 4.8 3.0 0.0 7.4 0.0 0.0 1.9 6.5 Grace period (years) .. 0.5 0.9 0.5 0.0 0.1 0.0 0.0 1.0 0.5 Grant element (%) .. 5.7 -2.5 5.8 0.0 6.5 0.0 0.0 7.0 17.7Memorandum items Commitments .. 11 12 15 18 20 9 11 11 20 Official creditors .. 11 11 15 18 11 9 11 0 13 Private creditors .. 0 2 1 0 10 0 0 11 8


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


456SIERRA LEONE


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 61 470 1,197 1,242 1,200 1,314 1,298 1,229 1,295 1,448Long-term debt (LDOD) 61 404 940 1,047 1,023 1,093 1,066 1,006 1,121 1,262Public and publicly guaranteed 61 404 940 1,047 1,023 1,093 1,066 1,006 1,121 1,262Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 59 108 171 167 191 195 174 152 169Short-term debt 0 7 148 24 9 30 37 49 22 16of which interest arrears on LDOD 0 7 148 6 7 20 32 42 8 7 Official creditors 0 3 83 6 7 20 31 41 8 7 Private creditors 0 4 66 0 0 1 1 1 0 0Memo: principal arrears on LDOD 0 17 547 110 110 123 137 68 33 32 Official creditors 0 4 173 21 22 35 49 64 33 32 Private creditors 0 12 374 88 88 88 88 4 0 0Memo: export credits 0 0 166 110 135 98 88 85 84 124

TOTAL DEBT FLOWS Disbursements 8 104 24 90 47 62 36 91 143 102Long-term debt 8 84 24 75 40 46 15 77 83 66IMF purchases 0 21 0 15 7 16 21 14 60 36Principal repayments 16 50 12 50 7 14 19 35 85 14Long-term debt 11 34 7 47 7 14 7 10 9 13IMF repurchases 5 17 5 3 0 0 12 25 75 1Net flows on debt -8 54 12 38 24 56 13 57 65 84of which short-term debt 0 0 0 -2 -16 8 -4 1 7 -5Interest payments (INT) 2 16 9 15 8 12 8 12 11 9Long-term debt 2 13 9 13 7 11 6 9 8 8IMF charges 0 2 0 1 1 1 1 3 3 1Short-term debt 0 0 0 1 1 0 1 0 0 1Net transfers on debt -11 39 3 22 16 44 6 45 54 74Total debt service paid (TDS) 18 66 21 66 16 26 27 47 96 23Long-term debt 13 47 16 60 14 24 12 19 17 21IMF repurchases and charges 5 19 5 4 1 1 14 28 78 2Short-term debt (interest only) 0 0 0 1 1 0 1 0 0 1


NET RESOURCE FLOWS 7 56 79 112 104 93 80 188 269 255Net flow of long-term debt (ex. IMF) -3 50 17 28 33 33 9 67 74 53Foreign direct investment (net) 8 -19 32 19 10 -10 6 5 3 5Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 1 24 30 65 61 70 65 116 192 197Memo: technical coop. grants 5 21 28 31 17 13 12 23 32 45 official net resource flows 4 63 42 93 94 103 74 183 266 251 private net resource flows 2 -7 36 19 10 -10 6 5 3 5

NET TRANSFERS 4 37 19 94 94 79 71 175 256 243Interest on long-term debt 2 13 9 13 7 11 6 9 8 8Profit remittances on FDI 0 5 51 4 3 3 3 4 5 4Memo: official net transfers 3 60 39 79 87 92 68 175 258 242 private net transfers 1 -23 -20 15 7 -13 3 1 -2 1


Gross national income (GNI) 426 1,071 580 920 832 655 650 617 728 758Exports of goods, serv. & inc. (XGS) .. 276 210 .. .. .. .. .. .. ..Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 494 287 .. .. .. .. .. .. ..International reserves (RES) 39 31 5 27 38 44 39 49 51 85Current account balance .. -165 -69 .. .. .. .. .. .. ..

4. DEBT INDICATORS


457SIERRA LEONE


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 61 404 940 1,047 1,023 1,093 1,066 1,006 1,121 1,262Public and publicly guaranteed 61 404 940 1,047 1,023 1,093 1,066 1,006 1,121 1,262Official creditors 34 247 508 955 933 1,003 976 1,000 1,119 1,260 Multilateral 6 62 182 480 489 537 531 576 617 722 Concessional 0 39 170 458 470 505 501 548 602 701 Bilateral 28 185 327 475 444 466 444 424 501 537 Concessional 20 138 143 279 262 278 277 267 339 365Private creditors 27 157 431 92 90 91 90 6 2 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 3 20 17 0 0 0 0 0 0 0 Other private 24 137 414 92 90 91 90 6 2 2Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 6 13 11 2 2 1 0 0 0 0 IDA 0 29 81 258 270 298 299 354 407 479



NET FLOWS ON DEBT -3 50 17 28 33 33 9 67 74 53Public and publicly guaranteed -3 50 17 28 33 33 9 67 74 53Official creditors 3 38 13 28 33 33 9 67 74 53 Multilateral 3 8 -1 69 37 32 11 67 78 57 Concessional 0 5 1 67 37 20 10 68 79 58 Bilateral 0 30 13 -40 -4 1 -2 1 -4 -4 Concessional 0 26 16 0 -3 4 0 3 0 2Private creditors -6 12 4 0 0 0 0 0 0 0 Bonds -5 0 0 0 0 0 0 0 0 0 Commercial banks -1 -3 0 0 0 0 0 0 0 0 Other private -1 15 4 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 3 2 0 -1 0 -1 -1 0 0 0 IDA 0 2 0 34 26 19 7 68 67 43

458SIERRA LEONE



NET TRANSFERS ON DEBT -5 37 7 15 26 22 3 59 66 45Public and publicly guaranteed -5 37 7 15 26 22 3 59 66 45Official creditors 2 36 9 15 26 22 3 59 66 45 Multilateral 2 7 -3 65 35 27 8 63 75 54 Concessional 0 5 0 64 35 15 7 65 76 55 Bilateral -1 29 12 -51 -9 -5 -5 -5 -9 -9 Concessional 0 26 15 -1 -5 4 0 2 0 2Private creditors -7 1 -1 0 0 0 0 0 0 0 Bonds -5 0 0 0 0 0 0 0 0 0 Commercial banks -1 -4 0 0 0 0 0 0 0 0 Other private -1 5 -1 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 2 1 0 -1 0 -1 -1 0 0 0 IDA 0 2 0 32 25 16 5 66 65 42


UNDISBURSED DEBT 24 116 164 219 163 156 131 121 109 96Official creditors 22 95 164 219 163 156 131 121 109 96Private creditors 2 21 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD 20 176 313 737 732 783 778 815 940 1,065 Variable rate LDOD 6 0 8 12 11 11 11 10 23 26 Public sector LDOD 61 358 608 963 939 1,009 982 1,006 1,121 1,262 Private sector LDOD 0 46 332 84 84 84 84 0 0 0



459SIERRA LEONE




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 107 -8 -42 114 -16 -70 66 153 Net flows on debt -8 54 12 38 24 56 13 57 65 84 Net change in interest arrears .. .. 53 -1 1 13 11 10 -34 -1 Interest capitalized .. .. 0 9 11 0 0 0 23 5 Debt forgiveness or reduction .. .. 0 -5 0 0 0 0 -26 -11 Cross-currency valuation .. .. 44 -55 -80 24 -38 -47 -35 92 Residual .. .. -2 6 2 20 -3 -91 73 -15



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


460SLOVAK REPUBLIC


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 7,674 9,803 13,369 12,575 12,140 11,154 13,013Long-term debt (LDOD) .. .. .. 4,409 5,450 8,575 9,737 9,725 8,081 8,776Public and publicly guaranteed .. .. .. 3,963 4,450 5,417 5,958 6,304 5,531 4,295Private nonguaranteed .. .. .. 446 1,000 3,157 3,779 3,421 2,550 4,481Use of IMF credit .. .. .. 319 249 190 132 0 0 0Short-term debt .. .. .. 2,946 4,104 4,605 2,706 2,415 3,073 4,237of which interest arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. .. 2 0 25 41 244 36 42 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 2 0 25 41 244 36 42Memo: export credits .. .. .. 540 595 611 637 294 307 284

TOTAL DEBT FLOWS Disbursements .. .. .. 1,666 2,245 3,430 2,684 2,004 726 3,770Long-term debt .. .. .. 1,666 2,245 3,430 2,684 2,004 726 3,770IMF purchases .. .. .. 0 0 0 0 0 0 0Principal repayments .. .. .. 821 1,191 1,441 1,185 2,022 1,833 2,400Long-term debt .. .. .. 697 1,140 1,374 1,133 1,895 1,833 2,400IMF repurchases .. .. .. 124 52 68 52 127 0 0Net flows on debt .. .. .. 2,077 2,212 2,490 -399 -309 -449 1,541of which short-term debt .. .. .. 1,233 1,158 500 -1,899 -291 658 171Interest payments (INT) .. .. .. 439 473 693 715 746 786 977Long-term debt .. .. .. 291 254 441 506 569 687 909IMF charges .. .. .. 17 13 10 6 6 0 0Short-term debt .. .. .. 130 206 242 202 172 99 68Net transfers on debt .. .. .. 1,639 1,739 1,797 -1,114 -1,055 -1,235 564Total debt service paid (TDS) .. .. .. 1,259 1,664 2,134 1,899 2,768 2,618 3,377Long-term debt .. .. .. 988 1,393 1,814 1,639 2,464 2,519 3,309IMF repurchases and charges .. .. .. 141 65 78 58 133 0 0Short-term debt (interest only) .. .. .. 130 206 242 202 172 99 68


NET RESOURCE FLOWS .. .. .. 1,404 1,415 2,637 2,010 2,172 550 5,504Net flow of long-term debt (ex. IMF) .. .. .. 969 1,105 2,057 1,552 109 -1,107 1,370Foreign direct investment (net) .. .. .. 351 174 562 354 2,053 1,579 4,012Portfolio equity flows .. .. .. 28 102 -35 47 -53 0 0Grants (excluding technical coop.) .. .. .. 57 33 53 57 63 78 122Memo: technical coop. grants .. .. .. 33 23 30 29 16 17 29 official net resource flows .. .. .. 138 297 241 339 33 138 44 private net resource flows .. .. .. 1,266 1,117 2,396 1,671 2,139 412 5,460

NET TRANSFERS .. .. .. 1,109 1,158 2,137 1,453 1,560 -183 4,514Interest on long-term debt .. .. .. 291 254 441 506 569 687 909Profit remittances on FDI .. .. .. 4 3 60 51 43 46 81Memo: official net transfers .. .. .. 100 257 173 284 -25 57 -13 private net transfers .. .. .. 1,010 901 1,964 1,169 1,585 -239 4,526


Gross national income (GNI) .. .. .. 20,461 20,957 21,839 19,903 19,389 20,146 23,243Exports of goods, serv. & inc. (XGS) .. .. .. 11,117 12,131 13,450 12,369 14,405 15,417 16,794Worker remit. & comp. of employees .. .. .. 21 29 31 27 25 25 25Imports of goods & services (MGS) .. .. .. 13,404 14,258 15,942 13,722 15,219 17,386 18,941International reserves (RES) .. .. .. 3,895 3,605 3,240 3,745 4,376 4,453 9,196Current account balance .. .. .. -2,090 -1,961 -2,126 -1,155 -694 .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. 69.0 80.8 99.4 101.7 84.3 72.3 77.5EDT / GNI (%) .. .. .. 37.5 46.8 61.2 63.2 62.6 55.4 56.0TDS / XGS (%) .. .. .. 11.3 13.7 15.9 15.4 19.2 17.0 20.1INT / XGS (%) .. .. .. 3.9 3.9 5.2 5.8 5.2 5.1 5.8INT / GNI (%) 2.1 2.3 3.2 3.6 3.8 3.9 4.2RES / EDT (%) 50.8 36.8 24.2 29.8 36.0 39.9 70.7RES / MGS (months) 3.5 3.0 2.4 3.3 3.5 3.1 5.8Short-term / EDT (%) .. .. .. 38.4 41.9 34.4 21.5 19.9 27.6 32.6Concessional / EDT (%) .. .. .. 1.6 2.7 2.4 3.0 2.7 2.4 2.0Multilateral / EDT (%) .. .. .. 6.0 5.3 5.0 6.2 5.3 6.4 6.2

461SLOVAK REPUBLIC


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 4,409 5,450 8,575 9,737 9,725 8,081 8,776Public and publicly guaranteed .. .. .. 3,963 4,450 5,417 5,958 6,304 5,531 4,295Official creditors .. .. .. 652 836 1,098 1,335 1,136 1,131 1,213 Multilateral .. .. .. 463 517 665 785 649 714 802 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 190 319 434 550 487 417 411 Concessional .. .. .. 124 264 318 376 323 268 262Private creditors .. .. .. 3,310 3,614 4,319 4,623 5,168 4,400 3,082 Bonds .. .. .. 970 1,120 1,712 2,351 2,780 2,379 2,512 Commercial banks .. .. .. 273 579 835 634 902 695 478 Other private .. .. .. 2,067 1,915 1,772 1,638 1,485 1,325 93Private nonguaranteed .. .. .. 446 1,000 3,157 3,779 3,421 2,550 4,481 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 446 1,000 3,157 3,779 3,421 2,550 4,481Memo: IBRD .. .. .. 250 227 239 219 184 205 204 IDA .. .. .. 0 0 0 0 0 0 0

DISBURSEMENTS .. .. .. 1,666 2,245 3,430 2,684 2,004 726 3,770Public and publicly guaranteed .. .. .. 1,273 887 1,721 1,194 1,013 244 36Official creditors .. .. .. 97 302 230 342 88 152 36 Multilateral .. .. .. 51 120 147 232 51 145 33 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 46 181 83 111 37 7 3 Concessional .. .. .. 46 166 21 19 0 0 1Private creditors .. .. .. 1,176 585 1,492 851 925 92 0 Bonds .. .. .. 390 162 1,114 782 748 0 0 Commercial banks .. .. .. 107 383 371 31 177 92 0 Other private .. .. .. 680 40 7 39 0 0 0Private nonguaranteed .. .. .. 393 1,358 1,709 1,491 991 481 3,733 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 393 1,358 1,709 1,491 991 481 3,733Memo: IBRD .. .. .. 6 13 15 3 1 54 0 IDA .. .. .. 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. .. 697 1,140 1,374 1,133 1,895 1,833 2,400Public and publicly guaranteed .. .. .. 664 275 900 416 567 624 597Official creditors .. .. .. 15 38 41 61 118 92 114 Multilateral .. .. .. 2 18 31 44 95 51 54 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 13 20 10 17 23 41 60 Concessional .. .. .. 0 0 3 5 12 15 32Private creditors .. .. .. 649 238 859 356 449 532 483 Bonds .. .. .. 0 10 570 5 199 283 189 Commercial banks .. .. .. 225 45 136 186 102 88 266 Other private .. .. .. 425 182 153 165 148 161 28Private nonguaranteed .. .. .. 32 865 473 717 1,327 1,208 1,803 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 32 865 473 717 1,327 1,208 1,803Memo: IBRD .. .. .. 0 15 17 20 23 22 22 IDA .. .. .. 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. 969 1,105 2,057 1,552 109 -1,107 1,370Public and publicly guaranteed .. .. .. 609 612 821 778 446 -380 -561Official creditors .. .. .. 82 264 188 282 -30 60 -78 Multilateral .. .. .. 48 103 115 188 -44 94 -21 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 33 162 73 94 13 -34 -57 Concessional .. .. .. 46 166 19 14 -12 -15 -31Private creditors .. .. .. 527 348 633 496 476 -440 -483 Bonds .. .. .. 390 152 543 777 550 -283 -189 Commercial banks .. .. .. -118 338 235 -155 75 4 -266 Other private .. .. .. 255 -142 -146 -126 -148 -161 -28Private nonguaranteed .. .. .. 361 493 1,236 774 -337 -727 1,931 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 361 493 1,236 774 -337 -727 1,931Memo: IBRD .. .. .. 6 -2 -2 -18 -22 32 -22 IDA .. .. .. 0 0 0 0 0 0 0

462SLOVAK REPUBLIC



NET TRANSFERS ON DEBT .. .. .. 678 852 1,616 1,046 -460 -1,794 461Public and publicly guaranteed .. .. .. 340 421 570 493 129 -717 -842Official creditors .. .. .. 43 224 120 227 -88 -21 -134 Multilateral .. .. .. 19 72 64 152 -82 57 -58 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 24 152 56 75 -7 -78 -76 Concessional .. .. .. 42 161 13 4 -23 -24 -42Private creditors .. .. .. 297 197 450 266 217 -696 -707 Bonds .. .. .. 329 80 468 653 389 -452 -376 Commercial banks .. .. .. -138 321 186 -200 27 -39 -293 Other private .. .. .. 106 -203 -204 -187 -199 -206 -38Private nonguaranteed .. .. .. 338 431 1,047 553 -589 -1,076 1,302 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 338 431 1,047 553 -589 -1,076 1,302Memo: IBRD .. .. .. -11 -18 -16 -31 -33 21 -31 IDA .. .. .. 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. .. 988 1,393 1,814 1,639 2,464 2,519 3,309Public and publicly guaranteed .. .. .. 933 466 1,152 701 884 962 878Official creditors .. .. .. 54 78 110 115 176 173 171 Multilateral .. .. .. 32 48 83 79 133 89 91 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 22 29 27 36 43 85 80 Concessional .. .. .. 4 5 8 15 23 24 43Private creditors .. .. .. 879 388 1,042 585 708 788 707 Bonds .. .. .. 61 82 646 129 359 452 376 Commercial banks .. .. .. 244 63 185 231 149 131 293 Other private .. .. .. 574 243 211 226 199 206 38Private nonguaranteed .. .. .. 55 927 662 938 1,580 1,558 2,431 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 55 927 662 938 1,580 1,558 2,431Memo: IBRD .. .. .. 17 30 31 34 34 32 31 IDA .. .. .. 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. .. 948 764 412 343 292 363 394Official creditors .. .. .. 434 372 290 296 263 338 384Private creditors .. .. .. 513 392 122 48 29 25 10Memorandum items Concessional LDOD .. .. .. 124 264 318 376 323 268 262 Variable rate LDOD .. .. .. 1,114 2,178 4,758 5,355 4,897 3,963 5,594 Public sector LDOD .. .. .. 3,815 4,238 5,171 5,762 6,199 5,457 4,219 Private sector LDOD .. .. .. 594 1,212 3,404 3,975 3,526 2,623 4,557



463SLOVAK REPUBLIC




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. .. 1,931 2,128 3,567 -794 -435 -987 1,859 Net flows on debt .. .. .. 2,077 2,212 2,490 -399 -309 -449 1,541 Net change in interest arrears .. .. .. 0 0 0 0 0 0 0 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 0 0 Cross-currency valuation .. .. .. -74 -115 100 -154 -235 -229 611 Residual .. .. .. -72 32 977 -241 109 -309 -1,286

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. 6.6 5.5 7.7 6.9 7.1 5.2 5.0 Maturity (years) .. .. .. 9.7 8.8 5.3 9.8 8.0 11.8 25.1 Grace period (years) .. .. .. 4.2 4.1 4.3 4.8 6.9 4.3 7.6 Grant element (%) .. .. .. 15.1 19.3 7.7 16.0 13.1 23.4 37.2Official creditors Interest (%) .. .. .. 5.2 3.9 6.1 4.6 7.4 5.0 5.0 Maturity (years) .. .. .. 14.0 13.8 11.9 20.4 11.1 15.6 25.1 Grace period (years) .. .. .. 4.6 4.9 2.8 4.9 3.8 5.3 7.6 Grant element (%) .. .. .. 26.5 33.9 18.5 35.0 12.1 29.8 37.2Private creditors Interest (%) .. .. .. 7.0 6.4 7.9 8.0 7.1 5.7 0.0 Maturity (years) .. .. .. 8.3 5.9 4.6 4.9 7.7 1.5 0.0 Grace period (years) .. .. .. 4.0 3.6 4.4 4.8 7.2 1.5 0.0 Grant element (%) .. .. .. 11.6 10.9 6.6 7.2 13.2 5.7 0.0Memorandum items Commitments .. .. .. 1,236 771 1,346 1,161 1,004 338 28 Official creditors .. .. .. 292 282 131 371 85 248 28 Private creditors .. .. .. 944 489 1,215 790 920 90 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 68 76 49 30 17 6 3 1 0 0Principal 1,993 1,797 678 1,259 776 380 239 770 836 58Interest 505 394 269 197 174 102 83 75 56 9Official creditors Disbursements 61 73 49 30 17 6 3 1 0 0Principal 134 151 152 163 170 155 127 104 59 47Interest 43 40 36 32 27 22 17 13 10 8 Bilateral creditors Disbursements 37 38 23 15 8 4 2 0 0 0 Principal 63 61 61 63 62 55 43 35 7 6 Interest 13 12 11 9 7 6 4 3 2 2 Multilateral creditors Disbursements 24 34 25 15 9 2 1 1 0 0 Principal 71 91 92 99 108 99 84 69 52 42 Interest 30 28 26 23 20 17 13 11 8 6Private creditors Disbursements 7 3 0 0 0 0 0 0 0 0Principal 1,859 1,646 525 1,096 606 226 112 666 777 11Interest 462 354 232 165 146 79 66 61 45 1 Commercial banks Disbursements 7 3 0 0 0 0 0 0 0 0 Principal 115 114 90 48 48 25 4 1 1 1 Interest 17 12 7 4 2 1 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,744 1,531 436 1,049 558 201 108 666 777 10 Interest 445 342 226 161 144 78 66 61 45 1

464SOLOMON ISLANDS


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements .. 4.0 5.2 5.5 5.0 18.6 9.0 3.4 17.6 10.3Long-term debt .. 4.0 5.2 5.5 5.0 18.6 9.0 3.4 17.6 10.3IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments .. 0.0 7.9 6.3 4.4 7.8 7.3 6.2 4.5 3.3Long-term debt .. 0.0 7.0 6.3 4.4 7.8 7.3 6.2 4.5 3.3IMF repurchases .. 0.0 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt .. 4.9 13.8 -1.2 -0.1 11.8 3.5 -4.4 13.1 6.5of which short-term debt .. 1.0 16.5 -0.4 -0.7 1.0 1.8 -1.5 0.0 -0.4Interest payments (INT) .. 0.3 3.7 2.1 1.3 4.1 3.6 2.9 2.6 2.4Long-term debt .. 0.0 3.1 2.0 1.3 4.0 3.5 2.7 2.5 2.3IMF charges .. 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. 0.3 0.5 0.0 0.0 0.1 0.1 0.1 0.1 0.0Net transfers on debt .. 4.7 10.1 -3.3 -1.4 7.7 -0.1 -7.3 10.5 4.1Total debt service paid (TDS) .. 0.3 11.6 8.4 5.7 11.9 10.9 9.1 7.1 5.7Long-term debt .. 0.0 10.1 8.3 5.7 11.9 10.9 9.0 7.0 5.7IMF repurchases and charges .. 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) .. 0.3 0.5 0.0 0.0 0.1 0.1 0.1 0.1 0.0


NET RESOURCE FLOWS .. 27.3 28.7 23.7 50.4 30.1 24.3 47.2 44.0 12.7Net flow of long-term debt (ex. IMF) .. 3.9 -1.8 -0.8 0.6 10.8 1.7 -2.9 13.1 6.9Foreign direct investment (net) .. 2.4 10.4 5.9 33.8 8.8 9.9 1.4 -12.1 -6.6Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. 21.0 20.2 18.6 15.9 10.5 12.7 48.7 43.0 12.4Memo: technical coop. grants .. 11.5 19.5 21.4 18.5 17.5 18.4 21.0 18.9 17.2 official net resource flows .. 24.9 21.5 21.9 20.2 24.8 17.9 49.3 59.6 21.9 private net resource flows .. 2.4 7.3 1.8 30.1 5.3 6.4 -2.1 -15.6 -9.2

NET TRANSFERS .. 12.4 23.6 14.1 40.4 18.2 10.1 35.5 33.5 2.9Interest on long-term debt .. 0.0 3.1 2.0 1.3 4.0 3.5 2.7 2.5 2.3Profit remittances on FDI .. 14.9 2.0 7.5 8.6 7.8 10.6 9.0 8.0 7.4Memo: official net transfers .. 24.9 19.9 20.7 19.9 23.3 16.6 48.5 58.8 21.1 private net transfers .. -12.5 3.7 -6.6 20.6 -5.0 -6.5 -13.0 -25.4 -18.2


Gross national income (GNI) .. 107.9 207.3 338.6 408.3 322.9 297.9 286.6 294.5 239.7Exports of goods, serv. & inc. (XGS) .. 85.0 97.8 217.0 229.5 199.0 226.3 131.9 .. ..Worker remit. & comp. of employees .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. 117.0 163.6 245.4 302.9 224.4 219.9 174.2 .. ..International reserves (RES) .. 29.6 17.6 32.6 36.3 49.0 51.1 32.0 19.3 18.2Current account balance .. -12.2 -27.8 14.6 -37.9 8.1 21.5 .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 22.8 123.2 68.0 61.0 77.7 72.9 117.8 .. ..EDT / GNI (%) .. 18.0 58.1 43.6 34.3 47.9 55.4 54.2 55.2 75.3TDS / XGS (%) .. 0.4 11.8 3.9 2.5 6.0 4.8 6.9 .. ..INT / XGS (%) .. 0.3 3.8 1.0 0.6 2.1 1.6 2.2 .. ..INT / GNI (%) .. 0.3 1.8 0.6 0.3 1.3 1.2 1.0 0.9 1.0RES / EDT (%) .. 152.6 14.6 22.1 26.0 31.7 31.0 20.6 11.9 10.1RES / MGS (months) .. 3.0 1.3 1.6 1.4 2.6 2.8 2.2 .. ..Short-term / EDT (%) .. 10.3 13.8 1.0 1.6 1.9 2.9 2.1 2.4 2.7Concessional / EDT (%) .. 89.7 64.1 60.1 60.9 66.2 69.9 74.3 77.3 80.3Multilateral / EDT (%) .. 36.7 51.0 54.8 54.4 60.7 65.4 64.6 58.8 58.1

465SOLOMON ISLANDS


5. LONG-TERM DEBT




NET FLOWS ON DEBT .. 3.9 -1.8 -0.8 0.6 10.8 1.7 -2.9 13.1 6.9Public and publicly guaranteed .. 3.9 -1.8 2.4 4.3 13.9 4.8 0.6 16.6 9.5Official creditors .. 3.9 1.3 3.3 4.3 14.3 5.2 0.6 16.6 9.5 Multilateral .. 4.0 4.7 3.7 3.0 15.0 7.2 0.3 1.0 -0.1 Concessional .. 4.0 4.7 3.7 3.0 15.0 7.2 0.3 1.0 -0.1 Bilateral .. 0.0 -3.4 -0.4 1.4 -0.7 -2.0 0.3 15.7 9.6 Concessional .. 0.0 -1.4 0.6 1.4 -0.7 -1.0 0.3 15.7 9.6Private creditors .. 0.0 -3.1 -0.9 0.0 -0.4 -0.4 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 -2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 0.0 -0.4 -0.9 0.0 -0.4 -0.4 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 -3.2 -3.7 -3.1 -3.1 -3.5 -3.5 -2.6 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 -3.2 -3.7 -3.1 -3.1 -3.5 -3.5 -2.6Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 2.5 4.2 2.4 1.7 7.8 0.4 1.0 -0.1

466SOLOMON ISLANDS



NET TRANSFERS ON DEBT .. 3.9 -4.9 -2.8 -0.7 6.7 -1.9 -5.6 10.6 4.6Public and publicly guaranteed .. 3.9 -4.9 0.9 4.0 12.1 3.3 -0.2 15.9 8.8Official creditors .. 3.9 -0.3 2.1 4.0 12.8 3.9 -0.2 15.9 8.8 Multilateral .. 3.9 4.1 3.1 2.7 13.5 6.2 -0.5 0.4 -0.5 Concessional .. 3.9 4.1 3.1 2.7 13.5 6.2 -0.5 0.4 -0.5 Bilateral .. 0.0 -4.4 -0.9 1.3 -0.7 -2.3 0.2 15.5 9.3 Concessional .. 0.0 -1.4 0.5 1.3 -0.7 -1.0 0.2 15.5 9.3Private creditors .. 0.0 -4.7 -1.3 0.0 -0.6 -0.6 0.0 0.0 0.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 -3.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 0.0 -0.7 -1.3 0.0 -0.6 -0.6 0.0 0.0 0.0Private nonguaranteed .. 0.0 0.0 -3.7 -4.6 -5.4 -5.1 -5.4 -5.3 -4.2 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. 0.0 0.0 -3.7 -4.6 -5.4 -5.1 -5.4 -5.3 -4.2Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 2.4 4.0 2.2 1.4 7.5 0.2 0.8 -0.5





467SOLOMON ISLANDS




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 20.5 -11.2 -7.5 14.6 10.4 -9.6 7.3 17.8 Net flows on debt .. 4.9 13.8 -1.2 -0.1 11.8 3.5 -4.4 13.1 6.5 Net change in interest arrears .. .. 0.1 -7.8 1.5 -0.4 0.0 0.0 0.6 1.5 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 1.4 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 6.6 -2.9 -8.9 2.8 0.8 -7.0 -5.3 8.1 Residual .. .. -0.1 0.7 -0.1 0.4 6.0 0.4 -1.1 1.7



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


468SOMALIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 77 660 2,370 2,643 2,561 2,635 2,606 2,562 2,563 2,688Long-term debt (LDOD) 77 595 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860Public and publicly guaranteed 77 595 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 18 159 161 151 158 154 146 141 152Short-term debt 0 47 285 564 558 591 593 591 627 676of which interest arrears on LDOD 0 8 255 533 534 562 564 569 603 643 Official creditors 0 8 249 517 518 546 549 554 589 627 Private creditors 0 0 5 16 16 16 15 15 14 15Memo: principal arrears on LDOD 0 13 674 1,167 1,180 1,227 1,232 1,241 1,295 1,370 Official creditors 0 13 646 1,131 1,145 1,191 1,198 1,208 1,263 1,336 Private creditors 0 0 28 36 34 35 34 33 32 34Memo: export credits 0 0 357 302 390 392 445 468 515 548

TOTAL DEBT FLOWS Disbursements 4 135 46 0 0 0 0 0 0 0Long-term debt 4 113 46 0 0 0 0 0 0 0IMF purchases 0 22 0 0 0 0 0 0 0 0Principal repayments 2 11 5 0 0 0 0 0 0 0Long-term debt 0 7 3 0 0 0 0 0 0 0IMF repurchases 2 4 3 0 0 0 0 0 0 0Net flows on debt 2 137 58 0 -7 5 0 -7 2 9of which short-term debt 0 13 18 0 -7 5 0 -7 2 9Interest payments (INT) 0 2 5 3 0 0 1 0 0 0Long-term debt 0 2 4 3 0 0 0 0 0 0IMF charges 0 0 1 1 0 0 1 0 0 0Short-term debt 0 0 0 0 0 0 0 0 0 0Net transfers on debt 1 135 53 -3 -7 5 -1 -7 2 9Total debt service paid (TDS) 3 13 11 3 0 0 1 0 0 0Long-term debt 1 9 7 3 0 0 0 0 0 0IMF repurchases and charges 2 4 4 1 0 0 1 0 0 0Short-term debt (interest only) 0 0 0 0 0 0 0 0 0 0


NET RESOURCE FLOWS 17 380 372 62 68 68 92 87 120 171Net flow of long-term debt (ex. IMF) 4 106 43 0 0 0 0 0 0 0Foreign direct investment (net) 5 0 6 1 1 0 -1 0 0 0Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 8 274 323 60 67 68 93 86 120 171Memo: technical coop. grants 11 93 94 33 26 16 24 19 32 17 official net resource flows 13 354 366 60 67 68 93 86 120 171 private net resource flows 4 27 6 1 1 0 -1 0 0 0

NET TRANSFERS 16 378 368 59 68 68 92 87 120 171Interest on long-term debt 0 2 4 3 0 0 0 0 0 0Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0Memo: official net transfers 12 352 362 58 67 68 93 86 120 171 private net transfers 4 27 6 1 1 0 -1 0 0 0


Gross national income (GNI) 316 603 835 .. .. .. .. .. .. ..Exports of goods, serv. & inc. (XGS) .. 262 .. .. .. .. .. .. .. ..Worker remit. & comp. of employees 0 57 0 0 0 0 0 0 0 0Imports of goods & services (MGS) .. 541 .. .. .. .. .. .. .. ..International reserves (RES) 21 26 .. .. .. .. .. .. .. ..Current account balance .. -136 .. .. .. .. .. .. .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 252.1 .. .. .. .. .. .. .. ..EDT / GNI (%) 24.4 109.5 283.9 .. .. .. .. .. .. ..TDS / XGS (%) .. 4.9 .. .. .. .. .. .. .. ..INT / XGS (%) .. 0.9 .. .. .. .. .. .. .. ..INT / GNI (%) 0.1 0.4 0.6 .. .. .. .. .. .. ..RES / EDT (%) 27.6 3.9 .. .. .. .. .. .. .. ..RES / MGS (months) .. 0.6 .. .. .. .. .. .. .. ..Short-term / EDT (%) 0.0 7.1 12.0 21.3 21.8 22.4 22.7 23.1 24.5 25.1Concessional / EDT (%) 91.0 82.8 65.7 58.9 58.7 58.1 58.2 58.1 57.0 56.3Multilateral / EDT (%) 9.2 24.1 31.8 28.9 28.2 28.1 28.0 27.7 27.0 27.1

469SOMALIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 77 595 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860Public and publicly guaranteed 77 595 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860Official creditors 75 567 1,889 1,882 1,818 1,851 1,826 1,792 1,763 1,826 Multilateral 7 159 754 764 723 741 729 709 692 727 Concessional 7 147 735 745 706 723 712 693 676 710 Bilateral 68 408 1,136 1,118 1,095 1,110 1,097 1,083 1,071 1,099 Concessional 63 400 822 812 797 808 804 794 784 803Private creditors 2 28 37 36 34 35 34 33 32 34 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 0 0 0 0 0 0 0 0 0 Other private 0 28 37 36 34 35 34 33 32 34Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 7 72 419 422 406 416 409 396 386 405



NET FLOWS ON DEBT 4 106 43 0 0 0 0 0 0 0Public and publicly guaranteed 4 106 43 0 0 0 0 0 0 0Official creditors 4 80 43 0 0 0 0 0 0 0 Multilateral 0 31 43 0 0 0 0 0 0 0 Concessional 0 25 43 0 0 0 0 0 0 0 Bilateral 4 48 0 0 0 0 0 0 0 0 Concessional 4 47 0 0 0 0 0 0 0 0Private creditors 0 27 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 0 27 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 32 0 0 0 0 0 0 0

470SOMALIA



NET TRANSFERS ON DEBT 3 104 39 -3 0 0 0 0 0 0Public and publicly guaranteed 3 104 39 -3 0 0 0 0 0 0Official creditors 4 78 39 -3 0 0 0 0 0 0 Multilateral 0 31 39 -3 0 0 0 0 0 0 Concessional 0 25 40 0 0 0 0 0 0 0 Bilateral 4 47 0 0 0 0 0 0 0 0 Concessional 4 46 0 0 0 0 0 0 0 0Private creditors -1 27 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks -1 0 0 0 0 0 0 0 0 0 Other private 0 27 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 9 29 0 0 0 0 0 0 0





471SOMALIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 211 -35 -82 74 -29 -44 1 125 Net flows on debt 2 137 58 0 -7 5 0 -7 2 9 Net change in interest arrears .. .. 71 13 0 28 2 5 35 39 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 30 -71 -89 2 -33 -36 -24 59 Residual .. .. 52 23 13 39 2 -6 -12 18



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


472SOUTH AFRICA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 26,050 25,272 24,753 23,907 24,861 24,050 25,041Long-term debt (LDOD) .. .. .. 14,334 13,930 13,309 13,092 15,308 15,695 17,641Public and publicly guaranteed .. .. .. 10,347 11,517 10,668 8,173 9,088 7,941 9,427Private nonguaranteed .. .. .. 3,987 2,413 2,641 4,919 6,220 7,754 8,213Use of IMF credit 0 0 0 884 415 0 0 0 0 0Short-term debt .. .. .. 10,832 10,928 11,444 10,815 9,553 8,355 7,400of which interest arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: principal arrears on LDOD .. .. .. 0 0 0 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0Memo: export credits .. .. .. 2,340 3,452 1,181 848 786 640 709

TOTAL DEBT FLOWS Disbursements .. .. .. 2,291 4,630 2,046 2,732 3,611 3,603 4,033Long-term debt .. .. .. 2,291 4,630 2,046 2,732 3,611 3,603 4,033IMF purchases 0 0 0 0 0 0 0 0 0 0Principal repayments .. .. .. 2,769 5,103 2,859 2,844 2,609 3,172 3,596Long-term debt .. .. .. 2,769 4,680 2,442 2,844 2,609 3,172 3,596IMF repurchases 0 0 0 0 423 417 0 0 0 0Net flows on debt .. .. .. 681 -377 -297 -698 1,186 -767 -518of which short-term debt .. .. .. 1,159 96 516 -550 272 -1,198 -955Interest payments (INT) .. .. .. 1,467 1,439 1,530 1,446 1,252 1,183 1,096Long-term debt .. .. .. 923 850 892 814 743 860 859IMF charges 0 0 0 40 34 15 1 0 0 0Short-term debt .. .. .. 504 555 622 631 509 322 236Net transfers on debt .. .. .. -786 -1,816 -1,827 -2,144 -65 -1,950 -1,614Total debt service paid (TDS) .. .. .. 4,236 6,542 4,388 4,290 3,861 4,355 4,691Long-term debt .. .. .. 3,692 5,530 3,334 3,658 3,352 4,032 4,455IMF repurchases and charges 0 0 0 40 456 432 1 0 0 0Short-term debt (interest only) .. .. .. 504 555 622 631 509 322 236


NET RESOURCE FLOWS .. .. .. 2,800 9,433 9,034 10,639 6,358 6,950 1,069Net flow of long-term debt (ex. IMF) .. .. .. -478 -51 -396 -111 1,002 431 437Foreign direct investment (net) .. .. .. 816 3,811 550 1,503 969 7,270 739Portfolio equity flows .. .. .. 2,319 5,473 8,632 9,001 4,169 -962 -388Grants (excluding technical coop.) .. .. .. 144 200 248 246 219 211 281Memo: technical coop. grants .. .. .. 207 244 210 213 225 221 221 official net resource flows .. .. .. 144 200 248 283 310 215 286 private net resource flows .. .. .. 2,657 9,233 8,787 10,356 6,048 6,735 783

NET TRANSFERS .. .. .. 1,196 7,779 7,337 8,713 3,286 3,208 -2,077Interest on long-term debt .. .. .. 923 850 892 814 743 860 859Profit remittances on FDI .. .. .. 682 803 805 1,112 2,329 2,882 2,286Memo: official net transfers .. .. .. 144 200 248 283 309 204 282 private net transfers .. .. .. 1,052 7,579 7,089 8,430 2,978 3,004 -2,359


Gross national income (GNI) .. .. .. 140,618 145,603 130,530 127,907 124,834 110,425 101,494Exports of goods, serv. & inc. (XGS) .. .. .. 36,367 37,803 35,852 35,268 38,792 37,496 37,387Worker remit. & comp. of employees .. .. .. 25 25 25 25 74 61 53Imports of goods & services (MGS) .. .. .. 37,494 39,352 37,265 34,982 38,440 37,053 36,541International reserves (RES) .. .. .. 2,341 5,957 5,508 7,497 7,702 7,627 7,817Current account balance .. .. .. -1,880 -2,273 -2,157 -640 -575 -296 290

4. DEBT INDICATORS


473SOUTH AFRICA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 14,334 13,930 13,309 13,092 15,308 15,695 17,641Public and publicly guaranteed .. .. .. 10,347 11,517 10,668 8,173 9,088 7,941 9,427Official creditors .. .. .. 0 0 0 31 145 122 129 Multilateral .. .. .. 0 0 0 31 145 122 129 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 0 0 Concessional .. .. .. 0 0 0 0 0 0 0Private creditors .. .. .. 10,347 11,517 10,668 8,142 8,943 7,819 9,298 Bonds .. .. .. 2,749 3,631 3,649 3,969 4,749 4,847 6,903 Commercial banks .. .. .. 3,563 3,327 2,638 1,842 1,973 839 813 Other private .. .. .. 4,036 4,559 4,381 2,331 2,221 2,133 1,582Private nonguaranteed .. .. .. 3,987 2,413 2,641 4,919 6,220 7,754 8,213 Bonds .. .. .. 350 395 786 395 1,110 2,307 3,573 Commercial banks and other .. .. .. 3,637 2,018 1,855 4,524 5,110 5,447 4,640Memo: IBRD 0 0 0 0 0 0 1 3 7 12 IDA 0 0 0 0 0 0 0 0 0 0

DISBURSEMENTS .. .. .. 2,291 4,630 2,046 2,732 3,611 3,603 4,033Public and publicly guaranteed .. .. .. 2,152 3,004 1,290 2,004 1,597 1,603 2,479Official creditors .. .. .. 0 0 0 37 91 4 7 Multilateral .. .. .. 0 0 0 37 91 4 7 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 0 0 Concessional .. .. .. 0 0 0 0 0 0 0Private creditors .. .. .. 2,152 3,004 1,290 1,967 1,506 1,599 2,472 Bonds .. .. .. 632 1,278 0 1,627 765 1,222 2,472 Commercial banks .. .. .. 419 726 840 240 420 0 0 Other private .. .. .. 1,101 1,000 450 100 321 377 0Private nonguaranteed .. .. .. 139 1,626 756 728 2,014 2,000 1,554 Bonds .. .. .. 0 45 373 0 712 1,250 1,554 Commercial banks and other .. .. .. 139 1,581 383 728 1,302 750 0Memo: IBRD 0 0 0 0 0 0 1 3 4 5 IDA 0 0 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS .. .. .. 2,769 4,680 2,442 2,844 2,609 3,172 3,596Public and publicly guaranteed .. .. .. 1,567 1,480 1,896 363 1,627 2,000 1,068Official creditors .. .. .. 0 0 0 0 0 0 3 Multilateral .. .. .. 0 0 0 0 0 0 3 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 0 0 Concessional .. .. .. 0 0 0 0 0 0 0Private creditors .. .. .. 1,567 1,480 1,896 363 1,627 2,000 1,066 Bonds .. .. .. 266 253 70 16 284 489 489 Commercial banks .. .. .. 834 752 1,198 347 949 904 26 Other private .. .. .. 467 475 628 0 393 607 551Private nonguaranteed .. .. .. 1,202 3,200 546 2,481 982 1,172 2,527 Bonds .. .. .. 0 0 0 358 0 45 350 Commercial banks and other .. .. .. 1,202 3,200 546 2,123 982 1,127 2,177Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 0 0

NET FLOWS ON DEBT .. .. .. -478 -51 -396 -111 1,002 431 437Public and publicly guaranteed .. .. .. 585 1,523 -606 1,642 -30 -397 1,411Official creditors .. .. .. 0 0 0 37 91 4 4 Multilateral .. .. .. 0 0 0 37 91 4 4 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 0 0 Concessional .. .. .. 0 0 0 0 0 0 0Private creditors .. .. .. 585 1,523 -606 1,604 -121 -401 1,406 Bonds .. .. .. 366 1,025 -70 1,611 481 733 1,983 Commercial banks .. .. .. -415 -26 -358 -107 -529 -904 -26 Other private .. .. .. 634 525 -178 100 -73 -230 -551Private nonguaranteed .. .. .. -1,063 -1,574 210 -1,753 1,032 828 -974 Bonds .. .. .. 0 45 373 -358 712 1,205 1,204 Commercial banks and other .. .. .. -1,063 -1,619 -163 -1,395 320 -377 -2,177Memo: IBRD 0 0 0 0 0 0 1 3 4 5 IDA 0 0 0 0 0 0 0 0 0 0

474SOUTH AFRICA


INTEREST PAYMENTS (LINT) .. .. .. 923 850 892 814 743 860 859Public and publicly guaranteed .. .. .. 667 669 759 681 546 558 513Official creditors .. .. .. 0 0 0 0 1 12 3 Multilateral .. .. .. 0 0 0 0 1 12 3 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 0 0 Concessional .. .. .. 0 0 0 0 0 0 0Private creditors .. .. .. 667 669 759 681 545 546 510 Bonds .. .. .. 194 207 266 266 275 307 372 Commercial banks .. .. .. 220 228 226 159 130 106 18 Other private .. .. .. 254 234 266 255 140 133 120Private nonguaranteed .. .. .. 256 181 134 133 196 302 347 Bonds .. .. .. 25 25 27 59 27 84 147 Commercial banks and other .. .. .. 231 156 106 74 169 218 200Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 0 0

NET TRANSFERS ON DEBT .. .. .. -1,401 -901 -1,288 -926 260 -429 -423Public and publicly guaranteed .. .. .. -83 854 -1,364 961 -576 -955 898Official creditors .. .. .. 0 0 0 37 90 -8 1 Multilateral .. .. .. 0 0 0 37 90 -8 1 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 0 0 Concessional .. .. .. 0 0 0 0 0 0 0Private creditors .. .. .. -83 854 -1,364 923 -666 -948 897 Bonds .. .. .. 173 818 -336 1,344 206 426 1,611 Commercial banks .. .. .. -635 -254 -584 -266 -659 -1,011 -44 Other private .. .. .. 380 291 -445 -155 -213 -363 -670Private nonguaranteed .. .. .. -1,319 -1,755 76 -1,886 836 526 -1,320 Bonds .. .. .. -25 20 346 -417 685 1,121 1,057 Commercial banks and other .. .. .. -1,294 -1,775 -270 -1,469 151 -595 -2,377Memo: IBRD 0 0 0 0 0 0 1 3 4 5 IDA 0 0 0 0 0 0 0 0 0 0

DEBT SERVICE (LTDS) .. .. .. 3,692 5,530 3,334 3,658 3,352 4,032 4,455Public and publicly guaranteed .. .. .. 2,235 2,150 2,654 1,044 2,173 2,558 1,581Official creditors .. .. .. 0 0 0 0 1 12 6 Multilateral .. .. .. 0 0 0 0 1 12 6 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 0 0 Concessional .. .. .. 0 0 0 0 0 0 0Private creditors .. .. .. 2,235 2,150 2,654 1,044 2,172 2,547 1,575 Bonds .. .. .. 460 460 336 283 559 796 861 Commercial banks .. .. .. 1,054 981 1,424 506 1,079 1,011 44 Other private .. .. .. 721 709 895 255 534 740 670Private nonguaranteed .. .. .. 1,458 3,381 680 2,614 1,178 1,474 2,874 Bonds .. .. .. 25 25 27 417 27 129 497 Commercial banks and other .. .. .. 1,433 3,356 652 2,197 1,151 1,345 2,377Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 0 0

UNDISBURSED DEBT .. .. .. 226 1,750 1,034 673 47 139 159Official creditors .. .. .. 0 0 124 63 47 139 159Private creditors .. .. .. 226 1,750 910 610 0 0 0Memorandum items Concessional LDOD .. .. .. 0 0 0 0 0 0 0 Variable rate LDOD .. .. .. 7,550 5,659 5,230 6,776 8,338 8,715 9,155 Public sector LDOD .. .. .. 10,347 11,517 10,528 7,733 8,054 7,137 8,623 Private sector LDOD .. .. .. 3,987 2,413 2,781 5,359 7,254 8,558 9,018



475SOUTH AFRICA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 692 -778 -520 -845 954 -811 991 Net flows on debt .. .. .. 681 -377 -297 -698 1,186 -767 -518 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 0 -102 -163 106 29 -70 -80 77 Residual .. .. 0 113 -238 -329 -134 1,283 36 1,432

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) .. .. .. 5.9 6.3 5.9 6.0 6.1 5.9 6.8 Maturity (years) .. .. .. 12.6 11.9 13.5 9.4 8.8 9.7 9.2 Grace period (years) .. .. .. 3.3 5.3 1.9 4.2 2.4 4.2 7.2 Grant element (%) .. .. .. 18.9 15.1 19.4 18.5 15.3 19.6 16.2Official creditors Interest (%) .. .. .. 0.0 0.0 5.5 0.0 5.9 3.8 1.7 Maturity (years) .. .. .. 0.0 0.0 14.0 0.0 12.3 16.1 9.8 Grace period (years) .. .. .. 0.0 0.0 3.8 0.0 4.0 4.9 2.9 Grant element (%) .. .. .. 0.0 0.0 24.4 0.0 20.2 37.7 36.3Private creditors Interest (%) .. .. .. 5.9 6.3 6.0 6.0 6.1 6.0 6.9 Maturity (years) .. .. .. 12.6 11.9 13.4 9.4 8.7 9.3 9.2 Grace period (years) .. .. .. 3.3 5.3 1.4 4.2 2.3 4.2 7.3 Grant element (%) .. .. .. 18.9 15.1 18.0 18.5 15.1 18.5 15.9Memorandum items Commitments .. .. .. 2,352 4,528 572 1,993 2,223 1,697 2,506 Official creditors .. .. .. 0 0 122 0 73 98 34 Private creditors .. .. .. 2,352 4,528 450 1,993 2,150 1,599 2,472


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 17 29 26 25 24 20 13 2 0 0Principal 6,268 2,456 3,122 1,138 1,793 175 425 175 173 1,099Interest 719 445 393 352 257 215 195 174 165 119Official creditors Disbursements 17 29 26 25 24 20 13 2 0 0Principal 9 14 17 26 28 30 30 30 28 26Interest 3 3 4 3 3 3 2 2 1 1 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 Multilateral creditors Disbursements 17 29 26 25 24 20 13 2 0 0 Principal 9 14 17 26 28 30 30 30 28 26 Interest 3 3 4 3 3 3 2 2 1 1Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0Principal 6,259 2,442 3,105 1,111 1,765 145 395 145 145 1,073Interest 716 442 390 349 254 212 192 172 163 118 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 326 326 161 0 0 0 0 0 0 0 Interest 13 8 2 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 5,933 2,116 2,944 1,111 1,765 145 395 145 145 1,073 Interest 703 434 387 349 254 212 192 172 163 118

476SRI LANKA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 75 344 545 626 814 914 504 733 815 713Long-term debt 66 272 485 626 814 914 504 733 683 587IMF purchases 10 72 61 0 0 0 0 0 132 125Principal repayments 56 94 214 288 349 394 536 541 520 496Long-term debt 29 51 167 242 283 312 436 455 448 445IMF repurchases 27 43 47 45 66 82 99 86 71 51Net flows on debt 19 334 331 282 383 454 463 -26 80 257of which short-term debt 0 84 0 -57 -82 -66 495 -218 -215 39Interest payments (INT) 12 85 170 179 182 192 221 249 228 220Long-term debt 12 33 122 151 155 170 190 214 208 208IMF charges 0 17 21 3 2 2 2 1 3 5Short-term debt 0 36 27 26 24 19 29 34 17 7Net transfers on debt 7 248 161 103 201 262 243 -275 -148 36Total debt service paid (TDS) 68 179 384 467 531 586 757 789 748 716Long-term debt 41 84 289 393 439 483 626 669 656 653IMF repurchases and charges 27 59 69 48 68 84 101 87 75 56Short-term debt (interest only) 0 36 27 26 24 19 29 34 17 7


NET RESOURCE FLOWS 51 425 583 646 1,074 910 356 560 507 500Net flow of long-term debt (ex. IMF) 36 221 318 384 531 602 68 278 235 143Foreign direct investment (net) 0 43 43 120 430 193 176 173 172 242Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 15 161 221 142 113 115 112 109 100 115Memo: technical coop. grants 7 57 104 97 94 81 87 78 77 73 official net resource flows 55 296 529 461 421 485 264 264 274 294 private net resource flows -4 129 54 186 653 425 92 296 233 206

NET TRANSFERS 39 377 435 431 842 648 56 238 195 182Interest on long-term debt 12 33 122 151 155 170 190 214 208 208Profit remittances on FDI 0 15 25 64 77 91 111 109 104 110Memo: official net transfers 47 270 452 345 313 377 143 138 155 171 private net transfers -8 107 -16 87 528 272 -88 100 41 10


Gross national income (GNI) 2,259 3,997 7,865 13,693 14,931 15,616 15,405 16,032 15,479 16,316Exports of goods, serv. & inc. (XGS) .. 1,492 2,786 5,868 6,669 6,940 6,780 7,670 7,436 7,330Worker remit. & comp. of employees 0 152 401 843 934 1,013 1,064 1,154 1,170 1,296Imports of goods & services (MGS) .. 2,269 3,224 6,477 6,974 7,070 7,198 8,554 7,529 7,429International reserves (RES) 43 283 447 1,985 2,042 1,998 1,654 1,056 1,304 1,652Current account balance .. -655 -298 -683 -395 -228 -561 -1,044 -243 -264

4. DEBT INDICATORS


477SRI LANKA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 317 1,230 5,049 7,208 7,213 8,259 8,625 8,310 7,992 8,805Public and publicly guaranteed 317 1,227 4,947 7,120 7,077 8,064 8,413 7,942 7,603 8,455Official creditors 253 1,087 4,349 6,400 6,213 7,000 7,432 7,026 6,650 7,467 Multilateral 29 216 1,623 2,942 2,878 3,222 3,607 3,406 3,233 3,747 Concessional 1 177 1,536 2,899 2,845 3,193 3,585 3,390 3,222 3,702 Bilateral 224 872 2,726 3,458 3,335 3,778 3,824 3,619 3,417 3,720 Concessional 186 854 2,681 3,356 3,208 3,648 3,686 3,459 3,240 3,517Private creditors 64 140 598 721 865 1,064 981 916 953 988 Bonds 12 0 0 0 50 115 115 65 224 224 Commercial banks 3 57 259 356 437 533 448 350 277 326 Other private 48 83 339 364 377 416 418 502 452 438Private nonguaranteed 0 3 102 88 136 196 213 368 389 350 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 3 102 88 136 196 213 368 389 350Memo: IBRD 26 31 82 40 31 26 20 13 8 4 IDA 1 98 864 1,516 1,514 1,648 1,651 1,610 1,570 1,734



NET FLOWS ON DEBT 36 221 318 384 531 602 68 278 235 143Public and publicly guaranteed 36 219 320 387 483 542 51 123 213 182Official creditors 40 135 307 319 308 370 152 155 174 178 Multilateral 2 27 214 229 140 183 106 73 68 166 Concessional 1 30 220 236 146 189 113 79 72 133 Bilateral 38 108 94 89 169 187 46 81 106 13 Concessional 34 113 98 70 140 186 38 51 92 0Private creditors -3 84 13 69 174 171 -101 -32 39 3 Bonds -3 0 0 0 50 65 0 -50 159 0 Commercial banks -1 57 30 12 94 86 -85 -83 -70 34 Other private 1 27 -17 57 30 20 -16 101 -49 -31Private nonguaranteed 0 2 -2 -3 48 60 17 155 21 -39 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 2 -2 -3 48 60 17 155 21 -39Memo: IBRD -1 -2 -6 -6 -6 -6 -6 -5 -4 -4 IDA 1 20 124 95 68 84 34 28 12 59

478SRI LANKA



NET TRANSFERS ON DEBT 24 188 196 234 375 431 -122 64 27 -65Public and publicly guaranteed 24 186 200 238 341 391 -114 -56 47 17Official creditors 32 110 230 203 200 262 31 29 55 56 Multilateral -1 22 195 201 112 156 74 42 39 135 Concessional 1 28 209 211 121 164 82 48 44 103 Bilateral 32 87 35 2 88 106 -43 -13 16 -79 Concessional 31 94 43 -13 66 112 -43 -35 11 -81Private creditors -7 76 -30 36 140 129 -146 -85 -8 -39 Bonds -4 0 0 0 50 61 -4 -56 155 -7 Commercial banks -1 57 14 -8 74 59 -119 -112 -90 19 Other private -2 19 -44 44 17 9 -24 83 -74 -50Private nonguaranteed 0 2 -4 -4 35 40 -8 120 -20 -82 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 2 -4 -4 35 40 -8 120 -20 -82Memo: IBRD -3 -5 -13 -11 -9 -8 -8 -7 -5 -5 IDA 1 19 118 84 57 72 22 16 0 47


UNDISBURSED DEBT 215 1,147 2,170 2,915 2,696 2,669 2,996 2,493 2,492 2,997Official creditors 196 899 2,070 2,689 2,526 2,489 2,686 2,292 2,177 2,731Private creditors 19 248 99 226 170 181 309 201 315 267Memorandum items Concessional LDOD 187 1,031 4,217 6,256 6,053 6,840 7,271 6,849 6,461 7,219 Variable rate LDOD 0 85 256 437 646 882 804 819 954 987 Public sector LDOD 311 1,219 4,854 7,014 6,982 7,956 8,292 7,834 7,503 8,345 Private sector LDOD 5 11 194 194 231 303 333 476 490 460



479SRI LANKA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 682 -97 -181 930 767 -660 -497 953 Net flows on debt 19 334 331 282 383 454 463 -26 80 257 Net change in interest arrears .. .. 4 81 -7 16 15 -29 -18 5 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 -9 0 0 Cross-currency valuation .. .. 296 -555 -660 327 203 -579 -554 624 Residual .. .. 51 95 103 134 85 -18 -5 67

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 3.0 3.9 1.8 3.6 3.6 5.1 3.8 4.3 2.9 1.9 Maturity (years) 27.1 30.6 34.8 25.7 24.6 27.5 27.0 22.5 23.1 28.1 Grace period (years) 4.9 7.7 9.5 7.6 7.4 8.1 6.9 5.3 5.6 7.5 Grant element (%) 47.9 50.4 69.3 48.5 48.2 35.5 46.7 39.6 44.9 60.8Official creditors Interest (%) 2.9 1.3 1.4 3.1 2.3 4.4 2.9 2.5 2.5 1.9 Maturity (years) 27.9 40.9 36.3 28.3 30.4 37.2 32.7 32.1 31.8 29.1 Grace period (years) 5.1 9.9 10.1 8.4 9.1 9.9 9.2 8.5 8.1 7.8 Grant element (%) 49.2 75.1 73.0 54.0 61.5 46.9 58.3 60.7 59.8 62.0Private creditors Interest (%) 5.9 8.7 8.5 6.3 7.2 6.4 6.6 6.6 3.5 2.1 Maturity (years) 7.4 11.9 9.0 8.5 8.8 6.5 10.1 10.4 9.5 13.0 Grace period (years) 1.4 3.8 0.8 1.8 2.9 4.4 0.1 1.3 1.5 3.5 Grant element (%) 12.6 5.8 4.3 11.8 11.6 10.8 12.2 13.2 21.4 41.4Memorandum items Commitments 81 752 837 1,187 776 792 716 443 874 855 Official creditors 78 484 791 1,033 570 540 536 246 534 804 Private creditors 3 268 46 154 206 252 181 196 340 50


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


480ST. KITTS AND NEVIS


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. 45.2 64.6 114.1 128.2 138.0 156.6 218.0 255.2Long-term debt (LDOD) .. .. 44.2 62.6 112.0 124.3 133.7 152.7 214.6 252.2Public and publicly guaranteed .. .. 44.2 62.6 112.0 124.3 133.7 152.7 214.6 252.2Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Use of IMF credit .. .. 0.0 0.0 0.0 2.3 2.2 2.1 2.0 1.1Short-term debt .. .. 1.0 1.9 2.1 1.5 2.0 1.8 1.4 1.9of which interest arrears on LDOD .. .. 0.0 0.2 0.1 0.3 0.1 0.2 0.4 0.5 Official creditors .. .. 0.0 0.2 0.1 0.3 0.1 0.2 0.4 0.5 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: principal arrears on LDOD .. .. 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0 Official creditors .. .. 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 Private creditors .. .. 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0Memo: export credits .. .. 30.0 32.3 58.0 22.4 19.9 27.6 27.2 28.9

TOTAL DEBT FLOWS Disbursements .. .. 7.3 13.3 54.9 23.9 19.4 32.1 71.6 54.6Long-term debt .. .. 7.3 13.3 54.9 21.7 19.4 32.1 71.6 54.6IMF purchases .. .. 0.0 0.0 0.0 2.2 0.0 0.0 0.0 0.0Principal repayments .. .. 1.5 4.8 4.6 5.8 9.3 12.8 9.4 20.9Long-term debt .. .. 1.5 4.8 4.6 5.8 9.3 12.8 9.4 19.9IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.1Net flows on debt .. .. 5.8 8.8 50.5 17.3 10.8 18.9 61.7 34.2of which short-term debt .. .. 0.0 0.4 0.2 -0.8 0.6 -0.4 -0.5 0.4Interest payments (INT) .. .. 1.5 2.1 2.2 4.9 7.8 7.3 11.9 17.3Long-term debt .. .. 1.4 2.0 2.1 4.8 7.7 7.1 11.8 17.2IMF charges .. .. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1Short-term debt .. .. 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0Net transfers on debt .. .. 4.3 6.8 48.3 12.5 3.0 11.6 49.8 16.9Total debt service paid (TDS) .. .. 3.0 6.9 6.8 10.7 17.1 20.1 21.3 38.2Long-term debt .. .. 2.9 6.8 6.7 10.6 16.9 19.9 21.2 37.1IMF repurchases and charges .. .. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 1.1Short-term debt (interest only) .. .. 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0


NET RESOURCE FLOWS .. .. 56.6 44.9 69.8 53.2 69.1 117.3 155.5 123.6Net flow of long-term debt (ex. IMF) .. .. 5.8 8.5 50.3 15.9 10.2 19.3 62.2 34.8Foreign direct investment (net) .. .. 48.8 35.2 19.7 31.9 57.7 96.2 88.0 80.8Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. .. 2.0 1.2 -0.2 5.5 1.2 1.8 5.3 8.0Memo: technical coop. grants .. .. 2.2 2.7 2.3 1.1 0.8 0.6 1.1 0.6 official net resource flows .. .. 8.2 10.9 32.6 13.8 6.8 4.9 19.3 25.9 private net resource flows .. .. 48.4 34.0 37.1 39.4 62.3 112.4 136.2 97.6

NET TRANSFERS .. .. 50.1 29.2 50.9 27.1 39.2 89.0 121.1 84.5Interest on long-term debt .. .. 1.4 2.0 2.1 4.8 7.7 7.1 11.8 17.2Profit remittances on FDI .. .. 5.0 13.7 16.7 21.3 22.2 21.2 22.7 21.9Memo: official net transfers .. .. 6.8 9.3 30.8 10.7 1.7 0.8 15.1 20.3 private net transfers .. .. 43.3 20.0 20.2 16.5 37.5 88.1 105.9 64.1



4. DEBT INDICATORS




5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. 44.2 62.6 112.0 124.3 133.7 152.7 214.6 252.2Public and publicly guaranteed .. .. 44.2 62.6 112.0 124.3 133.7 152.7 214.6 252.2Official creditors .. .. 41.4 58.3 90.2 95.1 99.8 102.7 116.3 134.7 Multilateral .. .. 20.0 33.7 40.1 40.4 48.7 53.8 63.1 83.1 Concessional .. .. 15.1 28.3 33.9 33.4 39.7 43.8 49.8 68.5 Bilateral .. .. 21.5 24.5 50.0 54.7 51.1 48.9 53.3 51.6 Concessional .. .. 19.5 23.7 49.5 54.5 50.9 48.7 48.2 46.4Private creditors .. .. 2.7 4.4 21.8 29.3 33.9 50.0 98.3 117.5 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.0 0.0 18.0 18.5 23.2 42.8 92.4 113.0 Other private .. .. 2.7 4.4 3.8 10.8 10.7 7.2 5.8 4.4Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 1.0 0.9 0.8 3.6 4.5 6.6 8.7 IDA .. .. 0.0 1.6 1.5 1.5 1.5 1.4 1.4 1.4

DISBURSEMENTS .. .. 7.3 13.3 54.9 21.7 19.4 32.1 71.6 54.6Public and publicly guaranteed .. .. 7.3 13.3 54.9 21.7 19.4 32.1 71.6 54.6Official creditors .. .. 7.3 12.8 36.1 11.9 11.7 7.9 19.7 24.6 Multilateral .. .. 2.4 6.1 9.3 5.9 11.3 7.2 12.0 22.1 Concessional .. .. 2.3 6.1 7.4 4.7 8.1 5.5 8.0 19.9 Bilateral .. .. 4.9 6.6 26.8 6.0 0.4 0.7 7.7 2.6 Concessional .. .. 4.9 6.6 26.8 6.0 0.4 0.5 2.9 1.9Private creditors .. .. 0.0 0.5 18.8 9.8 7.8 24.2 51.9 30.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.0 0.0 18.0 1.5 5.8 24.2 51.9 30.0 Other private .. .. 0.0 0.5 0.8 8.3 1.9 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.0 0.2 2.8 1.1 2.1 2.2 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

PRINCIPAL REPAYMENTS .. .. 1.5 4.8 4.6 5.8 9.3 12.8 9.4 19.9Public and publicly guaranteed .. .. 1.5 4.8 4.6 5.8 9.3 12.8 9.4 19.9Official creditors .. .. 1.1 3.1 3.2 3.5 6.1 4.8 5.7 6.7 Multilateral .. .. 0.7 1.7 2.1 2.1 2.3 2.1 2.5 2.0 Concessional .. .. 0.6 1.3 1.5 1.6 1.7 1.6 2.0 1.6 Bilateral .. .. 0.3 1.4 1.1 1.4 3.9 2.7 3.2 4.7 Concessional .. .. 0.2 1.1 0.8 1.2 3.8 2.6 3.2 4.2Private creditors .. .. 0.4 1.7 1.4 2.3 3.1 8.0 3.6 13.2 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.0 0.0 0.0 0.9 1.2 4.6 2.2 11.8 Other private .. .. 0.4 1.7 1.4 1.4 2.0 3.5 1.4 1.4Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

NET FLOWS ON DEBT .. .. 5.8 8.5 50.3 15.9 10.2 19.3 62.2 34.8Public and publicly guaranteed .. .. 5.8 8.5 50.3 15.9 10.2 19.3 62.2 34.8Official creditors .. .. 6.2 9.7 32.9 8.4 5.5 3.1 14.0 18.0 Multilateral .. .. 1.7 4.5 7.2 3.8 9.0 5.1 9.5 20.1 Concessional .. .. 1.6 4.8 5.9 3.1 6.4 3.9 6.0 18.3 Bilateral .. .. 4.6 5.2 25.7 4.6 -3.5 -2.0 4.5 -2.1 Concessional .. .. 4.7 5.6 26.0 4.8 -3.4 -2.1 -0.3 -2.3Private creditors .. .. -0.4 -1.2 17.4 7.5 4.6 16.2 48.2 16.8 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.0 0.0 18.0 0.5 4.7 19.6 49.6 18.2 Other private .. .. -0.4 -1.2 -0.6 6.9 0.0 -3.5 -1.4 -1.4Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.0 -0.1 0.1 2.7 1.0 2.1 2.1 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0



INTEREST PAYMENTS (LINT) .. .. 1.4 2.0 2.1 4.8 7.7 7.1 11.8 17.2Public and publicly guaranteed .. .. 1.4 2.0 2.1 4.8 7.7 7.1 11.8 17.2Official creditors .. .. 1.4 1.7 1.9 3.2 5.0 4.1 4.2 5.6 Multilateral .. .. 0.7 1.1 1.0 1.3 1.5 2.0 2.4 3.2 Concessional .. .. 0.5 0.8 0.8 1.0 1.2 1.5 1.8 2.4 Bilateral .. .. 0.7 0.6 0.9 1.9 3.5 2.2 1.8 2.4 Concessional .. .. 0.6 0.5 0.8 1.9 3.5 2.1 1.7 2.0Private creditors .. .. 0.0 0.3 0.3 1.6 2.7 3.0 7.6 11.6 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.0 0.0 0.0 1.4 1.9 2.3 7.1 11.3 Other private .. .. 0.0 0.3 0.2 0.2 0.7 0.7 0.5 0.4Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.1 0.1 0.1 0.1 0.3 0.4 0.5 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

NET TRANSFERS ON DEBT .. .. 4.4 6.5 48.2 11.1 2.5 12.2 50.5 17.6Public and publicly guaranteed .. .. 4.4 6.5 48.2 11.1 2.5 12.2 50.5 17.6Official creditors .. .. 4.8 8.0 31.0 5.2 0.5 -1.0 9.8 12.4 Multilateral .. .. 1.0 3.4 6.1 2.5 7.5 3.2 7.1 16.9 Concessional .. .. 1.1 4.0 5.2 2.1 5.2 2.4 4.2 15.9 Bilateral .. .. 3.8 4.6 24.8 2.7 -7.0 -4.2 2.7 -4.5 Concessional .. .. 4.1 5.0 25.2 2.9 -6.9 -4.2 -2.1 -4.3Private creditors .. .. -0.5 -1.5 17.2 5.9 2.0 13.1 40.6 5.2 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.0 0.0 18.0 -0.9 2.8 17.3 42.5 7.0 Other private .. .. -0.5 -1.5 -0.8 6.8 -0.8 -4.2 -1.9 -1.8Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 -0.1 -0.2 0.0 2.7 0.7 1.7 1.6 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

DEBT SERVICE (LTDS) .. .. 2.9 6.8 6.7 10.6 16.9 19.9 21.2 37.1Public and publicly guaranteed .. .. 2.9 6.8 6.7 10.6 16.9 19.9 21.2 37.1Official creditors .. .. 2.4 4.7 5.1 6.7 11.2 8.9 9.9 12.3 Multilateral .. .. 1.4 2.7 3.2 3.4 3.7 4.0 4.9 5.2 Concessional .. .. 1.2 2.1 2.3 2.6 2.9 3.1 3.8 4.0 Bilateral .. .. 1.0 2.0 1.9 3.3 7.4 4.8 5.0 7.1 Concessional .. .. 0.8 1.6 1.6 3.0 7.3 4.8 4.9 6.2Private creditors .. .. 0.5 2.0 1.6 3.9 5.8 11.0 11.2 24.8 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.0 0.0 0.0 2.3 3.1 6.9 9.4 23.0 Other private .. .. 0.5 2.0 1.6 1.6 2.7 4.2 1.9 1.8Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. .. 0.0 0.1 0.2 0.1 0.2 0.3 0.4 0.6 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0








8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 8.6 7.8 49.6 14.1 9.8 18.6 61.4 37.2 Net flows on debt .. .. 5.8 8.8 50.5 17.3 10.8 18.9 61.7 34.2 Net change in interest arrears .. .. -0.1 -1.1 0.0 0.2 -0.2 0.1 0.1 0.1 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 1.3 0.0 -0.7 0.3 -0.8 -0.8 -0.4 1.7 Residual .. .. 0.6 0.0 -0.2 -3.7 -0.1 0.3 -0.1 1.2



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


484ST. LUCIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements .. .. 8.0 18.0 10.4 19.5 20.7 50.9 16.7 50.1Long-term debt .. .. 8.0 18.0 10.4 19.5 20.7 50.9 16.7 50.1IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments .. .. 3.2 6.5 6.9 8.2 10.3 20.9 13.9 9.4Long-term debt .. .. 3.2 6.5 6.9 8.2 10.3 20.9 13.9 9.4IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt .. .. 7.0 14.7 16.3 34.8 9.2 42.5 4.7 175.2of which short-term debt .. .. 2.2 3.3 12.8 23.5 -1.2 12.5 2.0 134.5Interest payments (INT) .. .. 3.1 6.2 6.6 8.1 8.9 10.3 11.5 16.7Long-term debt .. .. 2.8 5.3 5.2 5.8 6.4 7.5 9.0 8.7IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt .. .. 0.3 0.9 1.4 2.4 2.5 2.8 2.5 8.0Net transfers on debt .. .. 3.8 8.4 9.7 26.7 0.3 32.2 -6.7 158.4Total debt service paid (TDS) .. .. 6.3 12.8 13.5 16.3 19.2 31.2 25.4 26.2Long-term debt .. .. 6.0 11.9 12.1 14.0 16.7 28.4 22.8 18.2IMF repurchases and charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) .. .. 0.3 0.9 1.4 2.4 2.5 2.8 2.5 8.0


NET RESOURCE FLOWS .. .. 52.7 58.2 56.3 109.0 113.7 95.2 43.2 78.3Net flow of long-term debt (ex. IMF) .. .. 4.8 11.4 3.5 11.3 10.4 30.0 2.8 40.7Foreign direct investment (net) .. .. 44.8 18.4 47.8 83.4 82.8 54.9 22.4 22.2Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) .. .. 3.1 28.3 5.0 14.3 20.6 10.3 18.0 15.4Memo: technical coop. grants .. .. 3.5 5.1 4.4 4.5 3.5 4.4 3.4 4.5 official net resource flows .. .. 8.7 39.8 8.5 18.5 16.1 15.4 13.4 26.1 private net resource flows .. .. 44.0 18.4 47.8 90.4 97.6 79.8 29.8 52.2

NET TRANSFERS .. .. 23.4 26.1 24.7 71.3 80.3 56.3 6.5 39.9Interest on long-term debt .. .. 2.8 5.3 5.2 5.8 6.4 7.5 9.0 8.7Profit remittances on FDI .. .. 26.5 26.7 26.4 31.9 27.1 31.4 27.8 29.6Memo: official net transfers .. .. 6.1 34.4 3.3 12.8 10.8 10.2 9.3 21.9 private net transfers .. .. 17.3 -8.3 21.4 58.5 69.5 46.1 -2.9 18.0



4. DEBT INDICATORS


485ST. LUCIA


5. LONG-TERM DEBT


DISBURSEMENTS .. .. 8.0 18.0 10.4 19.5 20.7 50.9 16.7 50.1Public and publicly guaranteed .. .. 8.0 18.0 10.4 19.5 20.7 50.9 16.7 50.1Official creditors .. .. 8.0 18.0 10.4 12.5 5.8 16.8 3.2 20.1 Multilateral .. .. 6.9 13.2 7.0 11.1 5.8 15.7 3.2 17.2 Concessional .. .. 4.3 7.9 5.2 2.9 1.2 3.7 2.8 12.8 Bilateral .. .. 1.1 4.8 3.3 1.4 0.0 1.1 0.0 2.9 Concessional .. .. 0.2 4.8 3.3 1.4 0.0 1.1 0.0 2.9Private creditors .. .. 0.0 0.0 0.0 7.1 14.9 34.1 13.4 30.0 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 7.1 14.9 34.1 13.4 30.0 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 2.2 0.4 1.5 0.8 0.9 0.3 1.0 IDA .. 0.0 0.0 0.6 2.0 1.2 0.5 0.7 0.8 7.3


NET FLOWS ON DEBT .. .. 4.8 11.4 3.5 11.3 10.4 30.0 2.8 40.7Public and publicly guaranteed .. .. 4.8 11.4 3.5 11.3 10.4 30.0 2.8 40.7Official creditors .. .. 5.6 11.4 3.5 4.3 -4.4 5.1 -4.7 10.7 Multilateral .. .. 4.5 8.7 2.2 5.7 0.1 9.0 -3.6 10.8 Concessional .. .. 2.2 5.1 2.4 -0.3 -2.0 0.7 -0.6 9.1 Bilateral .. .. 1.1 2.7 1.3 -1.4 -4.6 -4.0 -1.1 -0.1 Concessional .. .. 0.2 4.7 3.3 0.5 -1.3 -0.9 -0.8 0.7Private creditors .. .. -0.8 0.0 0.0 7.0 14.8 24.9 7.4 30.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. -0.8 0.0 0.0 7.0 14.8 24.9 7.4 30.0 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 2.0 0.2 1.3 0.6 0.4 -0.4 0.3 IDA .. 0.0 0.0 0.6 2.0 1.2 0.5 0.6 0.6 7.1

486ST. LUCIA



NET TRANSFERS ON DEBT .. .. 2.0 6.1 -1.7 5.5 4.0 22.5 -6.2 31.9Public and publicly guaranteed .. .. 2.0 6.1 -1.7 5.5 4.0 22.5 -6.2 31.9Official creditors .. .. 3.0 6.1 -1.7 -1.5 -9.7 -0.1 -8.7 6.6 Multilateral .. .. 2.7 5.3 -1.5 1.8 -3.5 5.0 -7.4 7.3 Concessional .. .. 1.0 3.4 0.5 -2.3 -3.4 -1.0 -2.1 7.4 Bilateral .. .. 0.3 0.9 -0.2 -3.2 -6.3 -5.1 -1.4 -0.7 Concessional .. .. 0.2 3.8 2.4 -0.4 -2.3 -1.8 -1.1 0.0Private creditors .. .. -1.0 0.0 0.0 7.0 13.8 22.6 2.5 25.4 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. -1.0 0.0 0.0 7.0 13.8 22.6 2.5 25.4 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD .. 0.0 0.0 1.8 -0.1 1.1 0.3 0.0 -0.7 0.0 IDA .. 0.0 0.0 0.5 1.9 1.2 0.4 0.5 0.6 7.1





487ST. LUCIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 13.5 13.3 11.4 37.1 6.1 39.2 0.4 179.2 Net flows on debt .. .. 7.0 14.7 16.3 34.8 9.2 42.5 4.7 175.2 Net change in interest arrears .. .. 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 5.8 -1.1 -4.7 1.8 -3.1 -3.2 -1.8 3.7 Residual .. .. 0.3 -0.3 -0.3 0.5 0.0 -0.1 -2.5 0.3



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


488ST. VINCENT AND THE GRENADINES


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 0.4 3.5 7.2 8.7 9.8 20.8 64.2 8.5 7.8 18.1Long-term debt 0.4 3.0 7.2 8.7 9.8 20.8 64.2 8.5 7.8 18.1IMF purchases 0.0 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 0.0 0.1 2.4 5.8 6.9 6.8 6.2 6.2 6.7 7.6Long-term debt 0.0 0.1 2.4 5.8 6.9 6.8 6.2 6.2 6.7 7.6IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt 0.4 3.4 5.2 4.9 -0.7 17.0 61.5 1.5 0.2 10.5of which short-term debt 0.0 0.0 0.4 2.0 -3.6 3.0 3.4 -0.8 -0.9 0.0Interest payments (INT) 0.1 0.3 1.9 4.5 4.8 5.0 8.4 7.0 7.2 5.6Long-term debt 0.1 0.3 1.7 2.9 3.2 3.4 6.6 5.2 5.4 4.4IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 0.0 0.2 1.7 1.6 1.6 1.8 1.9 1.8 1.2Net transfers on debt 0.3 3.1 3.3 0.4 -5.5 11.9 53.1 -5.5 -7.0 4.9Total debt service paid (TDS) 0.1 0.4 4.3 10.3 11.8 11.9 14.5 13.3 13.9 13.2Long-term debt 0.1 0.4 4.1 8.7 10.1 10.3 12.7 11.4 12.1 12.0IMF repurchases and charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) 0.0 0.0 0.2 1.7 1.6 1.6 1.8 1.9 1.8 1.2


NET RESOURCE FLOWS 0.4 8.9 15.9 66.2 99.7 114.5 127.5 35.0 26.9 33.9Net flow of long-term debt (ex. IMF) 0.4 2.9 4.8 2.9 2.9 14.0 58.1 2.3 1.1 10.5Foreign direct investment (net) 0.0 1.1 7.7 42.7 92.5 89.0 56.1 29.1 21.1 19.0Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Grants (excluding technical coop.) 0.0 4.9 3.4 20.6 4.4 11.6 13.4 3.6 4.7 4.4Memo: technical coop. grants 0.0 1.0 2.4 3.2 2.5 2.0 2.0 1.2 1.3 0.9 official net resource flows 0.0 7.7 8.2 23.5 8.8 25.9 14.0 6.3 6.2 7.4 private net resource flows 0.4 1.2 7.7 42.7 90.9 88.6 113.6 28.7 20.7 26.5

NET TRANSFERS 0.3 8.6 0.9 54.1 86.2 100.2 106.2 17.2 10.3 19.5Interest on long-term debt 0.1 0.3 1.7 2.9 3.2 3.4 6.6 5.2 5.4 4.4Profit remittances on FDI 0.0 0.0 13.3 9.2 10.3 10.9 14.8 12.7 11.2 10.0Memo: official net transfers 0.0 7.5 6.5 20.8 6.1 22.7 10.6 3.0 2.4 3.8 private net transfers 0.3 1.2 -5.6 33.4 80.1 77.5 95.6 14.2 8.0 15.8


Gross national income (GNI) 18.5 59.4 187.3 271.1 283.0 304.5 311.2 316.3 329.8 342.7Exports of goods, serv. & inc. (XGS) .. 39.6 148.7 153.3 149.4 160.3 178.5 181.1 179.3 174.1Worker remit. & comp. of employees 0.0 0.0 14.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0Imports of goods & services (MGS) .. 65.0 167.9 199.3 244.3 265.9 266.0 228.1 232.1 228.8International reserves (RES) .. 7.3 26.5 30.2 31.2 38.8 42.6 55.2 61.4 53.2Current account balance .. -9.3 -23.6 -35.5 -84.2 -94.5 -72.1 -28.2 -37.5 ..

4. DEBT INDICATORS




5. LONG-TERM DEBT




NET FLOWS ON DEBT 0.4 2.9 4.8 2.9 2.9 14.0 58.1 2.3 1.1 10.5Public and publicly guaranteed 0.4 2.9 4.8 2.9 2.9 14.0 58.1 2.3 1.1 10.5Official creditors 0.0 2.8 4.8 2.9 4.4 14.4 0.6 2.7 1.5 3.0 Multilateral 0.0 2.7 4.4 -2.6 4.9 7.9 -0.3 1.8 2.9 4.9 Concessional 0.0 1.7 3.6 -1.8 5.4 3.3 0.6 0.0 2.9 5.9 Bilateral 0.0 0.1 0.4 5.6 -0.5 6.4 0.8 0.9 -1.3 -1.9 Concessional 0.0 0.0 0.6 6.0 -0.2 6.7 0.8 0.9 -1.3 -1.9Private creditors 0.4 0.1 0.0 0.0 -1.6 -0.4 57.5 -0.4 -0.4 7.5 Bonds 0.4 0.0 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 -1.6 -0.4 57.5 -0.4 -0.4 7.5 Other private 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 IDA 0.0 0.0 0.9 -0.1 -0.1 0.1 0.0 -0.1 1.0 1.7




NET TRANSFERS ON DEBT 0.3 2.6 3.1 0.1 -0.3 10.5 51.5 -2.8 -4.3 6.1Public and publicly guaranteed 0.3 2.6 3.1 0.1 -0.3 10.5 51.5 -2.8 -4.3 6.1Official creditors 0.0 2.5 3.1 0.2 1.8 11.1 -2.8 -0.6 -2.3 -0.7 Multilateral 0.0 2.5 3.0 -4.6 3.0 5.7 -2.5 -0.4 0.3 2.4 Concessional 0.0 1.6 2.4 -3.2 4.1 1.5 -1.1 -1.7 0.8 4.0 Bilateral 0.0 0.1 0.1 4.8 -1.3 5.4 -0.3 -0.3 -2.6 -3.1 Concessional 0.0 0.0 0.4 5.3 -1.0 5.7 -0.3 -0.3 -2.6 -3.1Private creditors 0.3 0.1 0.0 -0.1 -2.1 -0.6 54.3 -2.2 -1.9 6.8 Bonds 0.3 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 -0.1 -2.1 -0.6 54.3 -2.2 -1.9 6.8 Other private 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.0 0.0 0.0 -0.1 -0.1 -0.1 -0.1 0.0 0.0 0.0 IDA 0.0 0.0 0.8 -0.1 -0.1 0.0 -0.1 -0.1 1.0 1.7









8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 8.2 4.0 -4.9 18.1 57.9 1.2 -1.0 11.5 Net flows on debt 0.4 3.4 5.2 4.9 -0.7 17.0 61.5 1.5 0.2 10.5 Net change in interest arrears .. .. 0.0 0.4 -0.3 -0.2 0.1 0.3 0.9 1.1 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -0.8 -0.3 -1.4 0.0 0.0 0.0 -0.8 -3.4 Cross-currency valuation .. .. 1.3 -1.4 -2.8 0.7 -3.0 -1.8 -1.0 3.4 Residual .. .. 2.6 0.4 0.3 0.7 -0.6 1.2 -0.3 0.0



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


492SUDAN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 385 5,177 14,762 16,972 16,326 16,843 16,132 15,741 15,414 16,389Long-term debt (LDOD) 294 4,147 9,651 9,865 9,494 9,722 9,348 9,143 8,984 9,539Public and publicly guaranteed 294 3,822 9,155 9,369 8,998 9,226 8,852 8,647 8,488 9,043Private nonguaranteed 0 325 496 496 496 496 496 496 496 496Use of IMF credit 31 431 956 893 797 772 715 625 551 573Short-term debt 61 599 4,155 6,214 6,035 6,349 6,069 5,974 5,879 6,277of which interest arrears on LDOD 0 63 3,705 5,683 5,624 5,893 5,761 5,703 5,738 6,139 Official creditors 0 33 3,244 4,767 4,721 4,922 4,876 4,830 4,878 5,173 Private creditors 0 30 461 916 903 971 885 873 860 967Memo: principal arrears on LDOD 0 551 5,703 7,467 7,321 7,608 7,414 7,307 7,309 7,877 Official creditors 0 108 3,893 5,377 5,348 5,553 5,572 5,494 5,527 5,833 Private creditors 0 444 1,811 2,090 1,973 2,055 1,843 1,813 1,782 2,044Memo: export credits 0 0 2,972 3,148 2,912 2,052 1,988 2,083 2,385 2,746

TOTAL DEBT FLOWS Disbursements 47 921 185 17 5 0 0 0 0 0Long-term debt 47 711 185 17 5 0 0 0 0 0IMF purchases 0 210 0 0 0 0 0 0 0 0Principal repayments 29 131 16 36 42 58 43 59 54 22Long-term debt 21 53 15 0 0 1 6 4 2 0IMF repurchases 8 78 1 36 42 57 38 54 52 22Net flows on debt 70 839 169 -119 -157 -13 -191 -97 -183 -26of which short-term debt 52 50 0 -100 -120 45 -147 -39 -129 -4Interest payments (INT) 13 133 34 12 15 3 13 2 2 1Long-term debt 12 49 9 0 0 2 7 2 1 0IMF charges 0 14 0 12 15 1 7 0 1 1Short-term debt 1 70 25 0 0 0 0 0 0 0Net transfers on debt 57 707 135 -131 -172 -16 -204 -100 -185 -27Total debt service paid (TDS) 42 264 50 48 58 61 57 61 56 23Long-term debt 33 102 23 0 0 3 12 7 3 1IMF repurchases and charges 8 92 1 48 57 58 44 54 53 23Short-term debt (interest only) 1 70 25 0 0 0 0 0 0 0


NET RESOURCE FLOWS 29 1,046 603 161 221 557 582 564 730 919Net flow of long-term debt (ex. IMF) 26 657 170 17 5 -1 -6 -4 -2 0Foreign direct investment (net) 0 0 0 0 98 371 371 392 574 633Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 3 388 433 144 118 188 216 176 158 286Memo: technical coop. grants 7 103 184 65 33 26 33 33 30 43 official net resource flows 32 908 603 161 123 187 211 171 156 285 private net resource flows -3 138 0 0 98 371 371 392 574 633

NET TRANSFERS 17 997 595 161 220 556 575 561 729 919Interest on long-term debt 12 49 9 0 0 2 7 2 1 0Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0Memo: official net transfers 22 864 595 161 123 185 204 169 155 285 private net transfers -5 133 0 0 98 371 371 392 574 633


Gross national income (GNI) 1,713 8,237 24,258 8,475 10,304 10,697 10,598 10,697 11,968 13,142Exports of goods, serv. & inc. (XGS) .. 1,286 573 898 1,059 1,312 1,545 2,477 2,462 2,986Worker remit. & comp. of employees 0 256 62 222 420 687 665 641 740 978Imports of goods & services (MGS) .. 1,576 1,025 1,541 1,600 1,947 1,654 2,594 2,627 3,607International reserves (RES) 22 49 11 107 82 91 189 247 118 441Current account balance .. -316 -372 -827 -828 -957 -431 -518 -522 -926

4. DEBT INDICATORS

EDT / XGS (%) .. 402.5 2,574.9 1,891.0 1,541.7 1,284.1 1,044.2 635.5 626.2 548.9EDT / GNI (%) 22.5 62.8 60.9 200.3 158.5 157.5 152.2 147.2 128.8 124.7TDS / XGS (%) .. 20.5 8.7 5.3 5.4 4.7 3.7 2.5 2.3 0.8INT / XGS (%) .. 10.3 5.9 1.4 1.4 0.2 0.9 0.1 0.1 0.0INT / GNI (%) 0.7 1.6 0.1 0.1 0.1 0.0 0.1 0.0 0.0 0.0RES / EDT (%) 5.6 0.9 0.1 0.6 0.5 0.5 1.2 1.6 0.8 2.7RES / MGS (months) .. 0.4 0.1 0.8 0.6 0.6 1.4 1.1 0.5 1.5Short-term / EDT (%) 15.7 11.6 28.1 36.6 37.0 37.7 37.6 37.9 38.1 38.3Concessional / EDT (%) 36.0 33.4 30.2 28.0 28.4 27.9 28.8 29.0 29.2 28.3Multilateral / EDT (%) 26.9 12.2 11.7 12.3 12.3 12.2 12.5 12.4 12.3 12.1

493SUDAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 294 4,147 9,651 9,865 9,494 9,722 9,348 9,143 8,984 9,539Public and publicly guaranteed 294 3,822 9,155 9,369 8,998 9,226 8,852 8,647 8,488 9,043Official creditors 256 3,293 7,500 7,776 7,521 7,666 7,505 7,330 7,202 7,495 Multilateral 103 634 1,723 2,084 2,001 2,051 2,011 1,946 1,899 1,990 Concessional 12 368 1,549 1,871 1,798 1,839 1,806 1,750 1,709 1,794 Bilateral 153 2,659 5,777 5,692 5,521 5,615 5,494 5,383 5,303 5,504 Concessional 126 1,361 2,903 2,879 2,838 2,865 2,848 2,820 2,794 2,839Private creditors 37 529 1,655 1,594 1,477 1,559 1,347 1,317 1,286 1,548 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 27 298 1,651 1,590 1,473 1,555 1,343 1,313 1,282 1,544 Other private 9 231 4 4 4 4 4 4 4 4Private nonguaranteed 0 325 496 496 496 496 496 496 496 496 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 325 496 496 496 496 496 496 496 496Memo: IBRD 91 46 19 6 6 6 3 1 0 0 IDA 12 190 1,028 1,244 1,198 1,226 1,208 1,167 1,137 1,192



NET FLOWS ON DEBT 26 657 170 17 5 -1 -6 -4 -2 0Public and publicly guaranteed 26 657 170 17 5 -1 -6 -4 -2 0Official creditors 29 520 170 17 5 -1 -6 -4 -2 0 Multilateral 11 174 170 17 5 -1 -6 -4 -2 0 Concessional 0 77 176 2 0 0 0 -2 -1 0 Bilateral 19 345 0 0 0 0 0 0 0 0 Concessional 10 179 0 0 0 0 0 0 0 0Private creditors -3 138 0 0 0 0 0 0 0 0 Bonds -1 0 0 0 0 0 0 0 0 0 Commercial banks -3 104 0 0 0 0 0 0 0 0 Other private 1 33 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 11 -3 -10 0 0 0 -3 -2 0 0 IDA 0 36 117 0 0 0 0 -2 -1 0

494SUDAN



NET TRANSFERS ON DEBT 14 609 162 17 4 -3 -12 -7 -3 -1Public and publicly guaranteed 14 609 162 17 4 -3 -12 -7 -3 -1Official creditors 20 476 162 17 4 -3 -12 -7 -3 -1 Multilateral 6 166 162 17 4 -3 -12 -7 -3 -1 Concessional 0 75 169 2 0 0 0 -4 -2 -1 Bilateral 14 310 0 0 0 0 0 0 0 0 Concessional 6 153 0 0 0 0 0 0 0 0Private creditors -5 133 0 0 0 0 0 0 0 0 Bonds -1 0 0 0 0 0 0 0 0 0 Commercial banks -5 102 0 0 0 0 0 0 0 0 Other private 1 31 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 6 -7 -11 0 0 0 -4 -3 0 0 IDA 0 35 110 0 0 0 0 -4 -2 -1


UNDISBURSED DEBT 124 1,309 1,284 583 561 540 23 22 1 1Official creditors 119 1,167 1,284 583 561 540 23 22 1 1Private creditors 4 143 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD 139 1,729 4,452 4,750 4,636 4,704 4,654 4,569 4,504 4,634 Variable rate LDOD 0 408 1,927 1,873 1,772 1,844 1,660 1,634 1,607 1,834 Public sector LDOD 294 4,145 9,651 9,865 9,494 9,722 9,348 9,143 8,984 9,539 Private sector LDOD 0 2 0 0 0 0 0 0 0 0



495SUDAN




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 1,403 -631 -646 517 -711 -391 -327 974 Net flows on debt 70 839 169 -119 -157 -13 -191 -97 -183 -26 Net change in interest arrears .. .. 645 -54 -59 269 -132 -57 35 401 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 518 -516 -484 167 -367 -220 -162 578 Residual .. .. 71 58 54 94 -21 -17 -17 22



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


496SWAZILAND


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002



TOTAL DEBT FLOWS Disbursements 4.6 29.1 14.1 28.3 54.8 30.6 32.9 15.8 35.7 12.9Long-term debt 3.5 26.5 14.1 28.3 54.8 30.6 32.9 15.8 35.7 12.9IMF purchases 1.2 2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Principal repayments 2.5 7.5 36.0 20.5 15.7 13.4 16.5 14.7 14.1 10.8Long-term debt 1.5 7.5 35.7 20.5 15.7 13.4 16.5 14.7 14.1 10.8IMF repurchases 1.0 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0Net flows on debt 2.1 28.6 -38.7 -1.0 195.1 -112.7 41.1 11.8 30.4 -8.1of which short-term debt 0.0 7.0 -16.7 -8.8 156.1 -129.9 24.7 10.6 8.8 -10.2Interest payments (INT) 1.9 10.6 10.4 11.8 14.7 16.0 20.1 20.6 13.7 9.4Long-term debt 1.9 9.0 9.9 11.5 6.9 14.4 18.5 16.7 11.2 8.2IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt 0.0 1.6 0.4 0.3 7.8 1.6 1.6 3.9 2.4 1.3Net transfers on debt 0.2 18.0 -49.0 -12.8 180.4 -128.7 21.0 -8.9 16.7 -17.5Total debt service paid (TDS) 4.4 18.1 46.4 32.3 30.4 29.4 36.5 35.3 27.8 20.2Long-term debt 3.4 16.5 45.6 32.0 22.6 27.8 35.0 31.4 25.4 18.9IMF repurchases and charges 1.0 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0Short-term debt (interest only) 0.0 1.6 0.4 0.3 7.8 1.6 1.6 3.9 2.4 1.3


NET RESOURCE FLOWS 5.4 57.2 26.3 48.7 41.2 188.8 131.2 102.6 82.3 54.8Net flow of long-term debt (ex. IMF) 2.0 19.0 -21.6 7.7 39.0 17.2 16.5 1.1 21.6 2.2Foreign direct investment (net) 0.0 26.5 30.1 21.7 -15.3 152.7 100.4 90.2 49.8 45.0Portfolio equity flows 0.0 0.0 -2.2 0.4 -0.1 3.4 2.7 1.4 0.0 0.0Grants (excluding technical coop.) 3.5 11.8 20.1 18.9 17.6 15.5 11.6 9.9 11.0 7.6Memo: technical coop. grants 2.0 22.7 27.3 25.9 14.4 19.0 11.6 9.5 9.1 9.5 official net resource flows 6.5 33.4 0.4 26.9 24.1 32.7 28.1 11.0 18.6 9.8 private net resource flows -1.0 23.9 26.0 21.8 17.2 156.1 103.1 91.6 63.8 45.0

NET TRANSFERS 3.6 21.1 -69.0 -13.1 10.7 77.8 58.6 58.6 0.6 -8.4Interest on long-term debt 1.9 9.0 9.9 11.5 6.9 14.4 18.5 16.7 11.2 8.2Profit remittances on FDI 0.0 27.2 85.4 50.4 23.7 96.6 54.0 27.3 70.5 55.0Memo: official net transfers 5.7 26.4 -8.7 15.4 17.2 25.7 16.2 0.2 9.8 2.6 private net transfers -2.1 -5.3 -60.2 -28.6 -6.5 52.1 42.5 58.4 -9.2 -11.0


Gross national income (GNI) 98.7 551.0 941.2 1,438.2 1,570.4 1,354.6 1,414.3 1,429.4 1,318.8 1,229.4Exports of goods, serv. & inc. (XGS) .. 450.7 819.6 1,152.1 1,235.9 1,227.1 1,170.1 1,272.2 1,320.6 1,213.2Worker remit. & comp. of employees 0.0 35.0 0.0 0.0 0.0 0.0 0.0 0.0 53.0 53.0Imports of goods & services (MGS) .. 659.2 870.4 1,363.8 1,355.0 1,452.9 1,336.4 1,444.4 1,407.9 1,269.9International reserves (RES) .. 158.7 216.5 254.0 294.8 358.6 375.9 351.8 271.8 275.8Current account balance .. -129.7 50.7 -52.0 -2.7 -93.3 -35.1 -65.2 -53.0 -46.3

4. DEBT INDICATORS


497SWAZILAND


5. LONG-TERM DEBT




NET FLOWS ON DEBT 2.0 19.0 -21.6 7.7 39.0 17.2 16.5 1.1 21.6 2.2Public and publicly guaranteed 2.0 19.0 -21.6 7.7 39.0 17.2 16.5 1.1 21.6 2.2Official creditors 3.0 21.6 -19.7 8.0 6.4 17.2 16.5 1.1 7.6 2.2 Multilateral 0.2 14.3 -18.6 13.7 11.8 7.8 2.2 7.7 9.5 2.2 Concessional 0.0 0.2 1.5 0.4 1.4 1.5 3.0 -0.1 4.5 4.8 Bilateral 2.8 7.3 -1.1 -5.7 -5.4 9.4 14.2 -6.6 -1.9 0.0 Concessional 2.9 5.0 1.7 -5.4 -5.1 -5.0 2.1 -5.9 -0.8 0.0Private creditors -1.0 -2.6 -1.9 -0.3 32.6 0.0 0.0 0.0 14.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks -0.9 -2.5 -0.2 0.0 32.6 0.0 0.0 0.0 14.0 0.0 Other private -0.1 -0.1 -1.7 -0.3 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD 0.2 1.3 -19.4 -3.1 -3.4 -0.1 -0.7 -0.1 0.0 0.1 IDA 0.0 0.3 -0.2 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3

498SWAZILAND



NET TRANSFERS ON DEBT 0.1 10.0 -31.5 -3.7 32.2 2.8 -2.1 -15.6 10.3 -6.0Public and publicly guaranteed 0.1 10.0 -31.5 -3.7 32.2 2.8 -2.1 -15.6 10.3 -6.0Official creditors 2.2 14.6 -28.8 -3.4 -0.4 10.2 4.6 -9.7 -1.2 -5.0 Multilateral -0.2 11.1 -25.2 3.8 6.3 2.0 -6.6 2.5 4.1 -4.6 Concessional 0.0 0.1 1.0 -0.9 0.9 0.9 2.3 -0.6 4.0 4.2 Bilateral 2.4 3.5 -3.6 -7.2 -6.8 8.2 11.2 -12.2 -5.2 -0.4 Concessional 2.7 4.4 0.3 -6.7 -6.4 -6.2 1.1 -7.3 -1.5 -0.4Private creditors -2.1 -4.6 -2.7 -0.3 32.6 -7.4 -6.6 -5.9 11.5 -1.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks -2.0 -4.4 -0.2 0.0 32.6 -7.4 -6.6 -5.9 11.5 -1.0 Other private -0.1 -0.2 -2.5 -0.3 0.0 0.0 0.0 0.0 0.0 0.0Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memo: IBRD -0.2 -0.4 -23.0 -4.8 -4.5 -0.7 -1.3 -0.9 -0.8 -0.6 IDA 0.0 0.2 -0.2 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3





499SWAZILAND




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -17.2 -12.1 177.2 -110.4 26.6 -6.4 7.8 39.1 Net flows on debt 2.1 28.6 -38.7 -1.0 195.1 -112.7 41.1 11.8 30.4 -8.1 Net change in interest arrears .. .. 0.0 -0.5 0.0 0.0 -0.1 0.0 0.0 6.1 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 12.6 -14.3 -12.2 -2.3 -11.9 -12.8 -14.7 22.0 Residual .. .. 8.9 3.7 -5.6 4.6 -2.6 -5.4 -7.8 19.0

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 0.0 8.0 0.0 7.3 13.5 11.0 3.0 3.0 6.7 0.0 Maturity (years) 25.5 18.7 0.0 19.7 30.5 19.1 17.6 40.2 23.8 0.0 Grace period (years) 7.7 5.0 0.0 5.2 30.5 3.3 4.1 27.2 8.0 0.0 Grant element (%) 76.8 11.9 0.0 17.1 -33.1 -6.0 42.7 66.3 26.6 0.0Official creditors Interest (%) 0.0 8.0 0.0 7.3 0.0 11.0 3.0 3.0 4.3 0.0 Maturity (years) 25.5 18.7 0.0 19.7 0.0 19.1 17.6 40.2 26.7 0.0 Grace period (years) 7.7 5.0 0.0 5.2 0.0 3.3 4.1 27.2 8.8 0.0 Grant element (%) 76.8 11.9 0.0 17.1 0.0 -6.0 42.7 66.3 43.2 0.0Private creditors Interest (%) 0.0 0.0 0.0 0.0 13.5 0.0 0.0 0.0 15.0 0.0 Maturity (years) 0.0 0.0 0.0 0.0 30.5 0.0 0.0 0.0 13.9 0.0 Grace period (years) 0.0 0.0 0.0 0.0 30.5 0.0 0.0 0.0 5.0 0.0 Grant element (%) 0.0 0.0 0.0 0.0 -33.1 0.0 0.0 0.0 -31.1 0.0Memorandum items Commitments 3 14 0 36 33 41 8 1 63 0 Official creditors 3 14 0 36 0 41 8 1 49 0 Private creditors 0 0 0 0 33 0 0 0 14 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


500SYRIAN ARAB REPUBLIC


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 276 3,548 17,259 21,484 20,937 22,460 22,369 21,657 21,341 21,504Long-term debt (LDOD) 231 2,917 15,108 16,762 16,326 16,353 16,142 15,930 15,809 15,849Public and publicly guaranteed 231 2,917 15,108 16,762 16,326 16,353 16,142 15,930 15,809 15,849Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 10 0 0 0 0 0 0 0 0 0Short-term debt 35 631 2,151 4,722 4,611 6,107 6,227 5,727 5,532 5,655of which interest arrears on LDOD 0 0 460 1,822 1,976 2,155 2,301 2,407 2,532 2,655 Official creditors 0 0 407 1,685 1,838 2,011 2,160 2,267 2,393 2,511 Private creditors 0 0 53 137 138 144 142 140 139 145Memo: principal arrears on LDOD 0 0 864 6,637 7,410 8,238 9,039 9,820 10,583 11,455 Official creditors 0 0 580 5,727 6,447 7,218 8,002 8,775 9,540 10,385 Private creditors 0 0 284 910 963 1,020 1,037 1,046 1,043 1,071Memo: export credits 0 0 360 439 381 342 353 576 514 614

TOTAL DEBT FLOWS Disbursements 63 1,147 186 168 104 64 34 18 0 0Long-term debt 60 1,147 186 168 104 64 34 18 0 0IMF purchases 3 0 0 0 0 0 0 0 0 0Principal repayments 30 225 1,066 65 353 94 127 121 102 110Long-term debt 30 225 1,066 65 353 94 127 121 102 110IMF repurchases 0 0 0 0 0 0 0 0 0 0Net flows on debt 33 1,239 -672 74 -514 1,286 -120 -708 -421 -109of which short-term debt 0 317 208 -29 -265 1,317 -27 -605 -320 0Interest payments (INT) 6 157 123 177 202 243 243 222 164 149Long-term debt 6 77 41 47 63 78 79 102 64 49IMF charges 0 0 0 0 0 0 0 0 0 0Short-term debt 0 80 82 130 138 165 164 120 100 100Net transfers on debt 27 1,082 -795 -103 -716 1,044 -363 -930 -585 -258Total debt service paid (TDS) 36 382 1,189 243 554 337 370 343 265 258Long-term debt 36 302 1,107 113 416 172 206 223 165 158IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0Short-term debt (interest only) 0 80 82 130 138 165 164 120 100 100


NET RESOURCE FLOWS 41 2,573 -188 228 -97 147 226 226 169 187Net flow of long-term debt (ex. IMF) 30 922 -880 103 -249 -31 -93 -103 -101 -109Foreign direct investment (net) 0 0 72 89 80 82 263 270 205 225Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 11 1,651 621 36 72 96 57 59 66 71Memo: technical coop. grants 8 26 31 74 47 50 44 42 45 51 official net resource flows 11 2,531 -251 144 -172 69 -32 -40 -34 -37 private net resource flows 30 42 63 84 75 78 258 266 204 224

NET TRANSFERS 35 2,496 -229 181 -160 69 147 124 105 138Interest on long-term debt 6 77 41 47 63 78 79 102 64 49Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0Memo: official net transfers 9 2,485 -283 99 -234 -8 -110 -141 -98 -86 private net transfers 25 11 54 82 73 77 258 266 203 224


Gross national income (GNI) 2,219 13,565 11,955 13,768 14,246 14,612 15,298 17,231 18,654 19,929Exports of goods, serv. & inc. (XGS) .. 3,341 5,460 6,504 6,060 5,177 5,813 7,191 7,867 8,478Worker remit. & comp. of employees 0 774 385 313 238 220 198 180 200 200Imports of goods & services (MGS) .. 4,610 3,786 7,088 6,098 5,650 6,101 6,614 7,138 7,516International reserves (RES) 57 828 .. .. .. .. .. .. .. ..Current account balance .. 251 1,762 40 461 58 201 1,062 .. ..

4. DEBT INDICATORS

EDT / XGS (%) .. 106.2 316.1 330.3 345.5 433.8 384.8 301.2 271.3 253.6EDT / GNI (%) 12.4 26.2 144.4 156.0 147.0 153.7 146.2 125.7 114.4 107.9TDS / XGS (%) .. 11.4 21.8 3.7 9.1 6.5 6.4 4.8 3.4 3.0INT / XGS (%) .. 4.7 2.3 2.7 3.3 4.7 4.2 3.1 2.1 1.8INT / GNI (%) 0.3 1.2 1.0 1.3 1.4 1.7 1.6 1.3 0.9 0.7RES / EDT (%) 20.6 23.3 .. .. .. .. .. .. .. ..RES / MGS (months) .. 2.2 .. .. .. .. .. .. .. ..Short-term / EDT (%) 12.7 17.8 12.5 22.0 22.0 27.2 27.8 26.4 25.9 26.3Concessional / EDT (%) 14.3 51.8 76.1 70.3 71.7 67.2 66.9 68.4 68.9 68.5Multilateral / EDT (%) 1.5 8.8 5.2 5.0 3.7 3.3 2.9 2.7 2.6 2.4



5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 231 2,917 15,108 16,762 16,326 16,353 16,142 15,930 15,809 15,849Public and publicly guaranteed 231 2,917 15,108 16,762 16,326 16,353 16,142 15,930 15,809 15,849Official creditors 57 2,161 13,830 15,603 15,191 15,233 15,055 14,862 14,751 14,766 Multilateral 4 311 901 1,081 771 734 641 575 557 518 Concessional 4 89 205 586 599 591 563 528 521 489 Bilateral 53 1,850 12,930 14,523 14,420 14,499 14,414 14,287 14,194 14,248 Concessional 35 1,749 12,929 14,521 14,418 14,497 14,412 14,286 14,193 14,246Private creditors 174 756 1,277 1,159 1,135 1,120 1,088 1,068 1,058 1,082 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 174 756 1,277 1,159 1,135 1,120 1,088 1,068 1,058 1,082Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 215 479 383 85 67 41 25 15 11 IDA 4 42 44 44 34 32 31 30 28 27

DISBURSEMENTS 60 1,147 186 168 104 64 34 18 0 0Public and publicly guaranteed 60 1,147 186 168 104 64 34 18 0 0Official creditors 9 971 157 168 104 63 34 18 0 0 Multilateral 3 64 29 90 55 35 20 12 0 0 Concessional 3 2 8 90 54 35 20 12 0 0 Bilateral 6 907 128 78 49 28 14 6 0 0 Concessional 5 900 128 78 49 28 14 6 0 0Private creditors 51 176 28 0 0 1 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 51 176 28 0 0 1 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 60 0 0 0 0 0 0 0 0 IDA 3 2 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 30 225 1,066 65 353 94 127 121 102 110Public and publicly guaranteed 30 225 1,066 65 353 94 127 121 102 110Official creditors 9 91 1,029 60 347 89 122 117 100 108 Multilateral 0 4 24 35 310 55 74 70 53 57 Concessional 0 1 8 17 31 20 36 44 41 46 Bilateral 9 88 1,005 25 37 34 48 48 47 51 Concessional 5 31 1,005 25 37 34 48 48 47 51Private creditors 21 133 37 5 5 5 5 4 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 21 133 37 5 5 5 5 4 1 1Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 3 1 0 262 22 21 14 8 6 IDA 0 0 2 0 10 1 1 1 1 1

NET FLOWS ON DEBT 30 922 -880 103 -249 -31 -93 -103 -101 -109Public and publicly guaranteed 30 922 -880 103 -249 -31 -93 -103 -101 -109Official creditors 0 880 -872 108 -244 -26 -89 -99 -100 -108 Multilateral 3 60 5 55 -256 -20 -54 -58 -53 -57 Concessional 3 2 0 73 24 15 -16 -32 -41 -46 Bilateral -3 820 -877 53 12 -6 -34 -41 -47 -51 Concessional 0 869 -877 53 12 -6 -34 -41 -47 -51Private creditors 30 42 -9 -5 -5 -4 -5 -4 -1 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 30 42 -9 -5 -5 -4 -5 -4 -1 -1Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 57 -1 0 -262 -22 -21 -14 -8 -6 IDA 3 2 -2 0 -10 -1 -1 -1 -1 -1




NET TRANSFERS ON DEBT 24 845 -922 56 -312 -109 -173 -205 -165 -158Public and publicly guaranteed 24 845 -922 56 -312 -109 -173 -205 -165 -158Official creditors -2 834 -904 63 -306 -104 -167 -201 -164 -157 Multilateral 3 40 -9 27 -296 -76 -112 -140 -98 -88 Concessional 3 0 -5 50 -3 -9 -40 -55 -63 -68 Bilateral -5 794 -895 36 -10 -27 -55 -61 -65 -68 Concessional -1 851 -895 36 -10 -27 -55 -61 -65 -68Private creditors 26 11 -18 -7 -7 -5 -5 -4 -2 -2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 26 11 -18 -7 -7 -5 -5 -4 -2 -2Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 39 -2 0 -271 -50 -51 -72 -31 -15 IDA 3 1 -2 0 -13 -2 -2 -2 -2 -2

DEBT SERVICE (LTDS) 36 302 1,107 113 416 172 206 223 165 158Public and publicly guaranteed 36 302 1,107 113 416 172 206 223 165 158Official creditors 11 138 1,061 106 409 166 201 219 164 157 Multilateral 0 24 39 64 350 111 132 152 98 88 Concessional 0 2 13 40 58 44 61 67 63 68 Bilateral 11 114 1,023 42 59 55 69 67 65 68 Concessional 6 49 1,023 42 59 55 69 67 65 68Private creditors 25 165 46 7 7 6 5 4 2 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 0 Other private 25 165 46 7 7 6 5 4 2 2Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 21 2 0 271 50 51 72 31 15 IDA 0 0 2 0 13 2 2 2 2 2

UNDISBURSED DEBT 110 1,975 922 744 578 545 56 33 0 0Official creditors 11 1,392 716 693 531 512 49 29 0 0Private creditors 99 583 206 51 46 33 6 4 0 0Memorandum items Concessional LDOD 39 1,838 13,134 15,107 15,017 15,088 14,976 14,813 14,713 14,735 Variable rate LDOD 0 0 0 0 0 0 0 0 0 0 Public sector LDOD 231 2,916 15,107 16,762 16,326 16,352 16,142 15,929 15,809 15,848 Private sector LDOD 0 0 0 0 0 0 0 0 0 0







8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. -342 69 -547 1,522 -91 -712 -317 163 Net flows on debt 33 1,239 -672 74 -514 1,286 -120 -708 -421 -109 Net change in interest arrears .. .. 247 189 154 179 146 106 124 124 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 157 -151 -264 98 -27 -112 -98 149 Residual .. .. -73 -43 77 -42 -90 3 79 0

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 4.3 2.5 3.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.7 22.4 22.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.4 4.3 6.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 24.0 50.7 43.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0Official creditors Interest (%) 2.7 2.0 3.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.7 25.1 23.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.0 4.2 6.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 30.4 55.8 43.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0Private creditors Interest (%) 4.5 4.1 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.7 12.6 12.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.4 4.4 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 23.2 32.2 36.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0Memorandum items Commitments 14 1,169 344 0 0 0 0 0 0 0 Official creditors 2 918 334 0 0 0 0 0 0 0 Private creditors 13 251 10 0 0 0 0 0 0 0


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


504TAJIKISTAN


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) .. .. .. 699 1,065 1,243 1,275 1,034 1,058 1,153Long-term debt (LDOD) .. .. .. 657 961 997 1,072 846 869 999Public and publicly guaranteed .. .. .. 657 669 703 741 755 762 912Private nonguaranteed .. .. .. 0 292 294 331 91 107 87Use of IMF credit .. .. .. 22 30 99 100 111 110 94Short-term debt .. .. .. 21 74 147 102 77 79 60of which interest arrears on LDOD .. .. .. 13 37 35 41 45 27 9 Official creditors .. .. .. 5 15 16 21 23 27 2 Private creditors .. .. .. 8 22 20 20 22 0 7Memo: principal arrears on LDOD .. .. .. 90 100 95 122 121 77 89 Official creditors .. .. .. 22 32 35 66 70 77 42 Private creditors .. .. .. 68 68 60 55 51 0 47Memo: export credits .. .. .. 0 0 0 11 3 27 25

TOTAL DEBT FLOWS Disbursements .. .. .. 58 52 131 132 62 115 34Long-term debt .. .. .. 36 42 66 122 37 100 24IMF purchases .. .. .. 22 10 65 9 25 15 10Principal repayments .. .. .. 0 29 61 53 37 58 67Long-term debt .. .. .. 0 29 61 48 28 46 33IMF repurchases .. .. .. 0 0 0 5 10 12 34Net flows on debt .. .. .. 58 52 145 27 -4 77 -34of which short-term debt .. .. .. 0 29 75 -51 -29 20 -1Interest payments (INT) .. .. .. 1 19 31 26 25 23 12Long-term debt .. .. .. 0 17 28 20 21 20 11IMF charges .. .. .. 0 1 2 2 2 1 1Short-term debt .. .. .. 0 1 1 4 2 2 1Net transfers on debt .. .. .. 57 34 114 1 -30 54 -46Total debt service paid (TDS) .. .. .. 1 48 92 79 63 81 79Long-term debt .. .. .. 0 45 89 68 49 66 43IMF repurchases and charges .. .. .. 0 1 2 7 12 13 35Short-term debt (interest only) .. .. .. 0 1 1 4 2 2 1


NET RESOURCE FLOWS .. .. .. 113 86 87 150 81 153 103Net flow of long-term debt (ex. IMF) .. .. .. 36 13 5 74 9 54 -9Foreign direct investment (net) .. .. .. 18 18 25 21 22 10 9Portfolio equity flows .. .. .. 0 0 0 0 0 0 2Grants (excluding technical coop.) .. .. .. 59 55 58 55 50 89 102Memo: technical coop. grants .. .. .. 14 9 10 10 15 19 52 official net resource flows .. .. .. 95 69 70 96 70 126 113 private net resource flows .. .. .. 18 18 18 54 11 26 -10

NET TRANSFERS .. .. .. 112 68 56 121 49 118 77Interest on long-term debt .. .. .. 0 17 28 20 21 20 11Profit remittances on FDI .. .. .. 1 2 3 9 11 15 16Memo: official net transfers .. .. .. 95 64 55 94 66 121 108 private net transfers .. .. .. 17 4 2 27 -17 -3 -31


Gross national income (GNI) .. .. .. 985 1,081 1,263 1,032 934 979 1,154Exports of goods, serv. & inc. (XGS) .. .. .. 775 773 636 698 804 703 773Worker remit. & comp. of employees .. .. .. 0 0 0 0 0 0 79Imports of goods & services (MGS) .. .. .. 880 874 813 769 901 860 926International reserves (RES) .. .. .. .. 39 56 57 94 94 90Current account balance .. .. .. -75 -61 -120 -36 -62 -74 -34

4. DEBT INDICATORS

EDT / XGS (%) .. .. .. 90.2 137.8 195.4 182.6 128.6 150.5 149.1EDT / GNI (%) .. .. .. 71.0 98.6 98.4 123.6 110.7 108.1 99.9TDS / XGS (%) .. .. .. 0.1 6.2 14.4 11.3 7.8 11.5 10.2INT / XGS (%) .. .. .. 0.1 2.4 4.8 3.7 3.2 3.2 1.6INT / GNI (%) .. .. .. 0.1 1.7 2.4 2.5 2.7 2.3 1.1RES / EDT (%) .. .. .. .. 3.6 4.5 4.5 9.1 8.9 7.8RES / MGS (months) .. .. .. .. 0.5 0.8 0.9 1.3 1.3 1.2Short-term / EDT (%) .. .. .. 3.0 6.9 11.8 8.0 7.5 7.5 5.2Concessional / EDT (%) .. .. .. 79.6 52.4 49.8 52.0 65.3 69.4 32.5Multilateral / EDT (%) .. .. .. 4.3 4.7 8.4 12.3 18.0 25.0 37.8

505TAJIKISTAN


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) .. .. .. 657 961 997 1,072 846 869 999Public and publicly guaranteed .. .. .. 657 669 703 741 755 762 912Official creditors .. .. .. 589 601 643 686 704 762 842 Multilateral .. .. .. 30 50 104 157 186 264 436 Concessional .. .. .. 30 50 104 157 185 263 316 Bilateral .. .. .. 559 551 539 529 518 497 407 Concessional .. .. .. 527 508 515 505 490 472 59Private creditors .. .. .. 68 68 60 55 51 0 70 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 68 68 60 55 51 0 0 Other private .. .. .. 0 0 0 0 0 0 70Private nonguaranteed .. .. .. 0 292 294 331 91 107 87 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 292 294 331 91 107 87Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 30 50 92 126 143 172 195



NET FLOWS ON DEBT .. .. .. 36 13 5 74 9 54 -9Public and publicly guaranteed .. .. .. 36 13 4 37 20 37 11Official creditors .. .. .. 36 13 12 41 20 37 11 Multilateral .. .. .. 30 22 50 55 36 33 16 Concessional .. .. .. 30 22 50 55 35 32 16 Bilateral .. .. .. 6 -9 -38 -14 -15 4 -5 Concessional .. .. .. 0 -20 -38 -14 -15 -6 -5Private creditors .. .. .. 0 0 -8 -4 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 -8 -4 0 0 0 Other private .. .. .. 0 0 0 0 0 0 0Private nonguaranteed .. .. .. 0 0 1 37 -11 17 -20 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 1 37 -11 17 -20Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 30 22 38 36 23 35 10

506TAJIKISTAN



NET TRANSFERS ON DEBT .. .. .. 36 -3 -23 54 -12 34 -20Public and publicly guaranteed .. .. .. 36 9 -11 34 13 20 6Official creditors .. .. .. 36 9 -3 39 16 31 6 Multilateral .. .. .. 30 22 49 54 34 30 13 Concessional .. .. .. 30 22 49 54 34 29 13 Bilateral .. .. .. 6 -13 -52 -15 -18 1 -7 Concessional .. .. .. 0 -25 -52 -15 -18 -8 -7Private creditors .. .. .. 0 0 -8 -5 -4 -11 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 -8 -5 -4 -11 0 Other private .. .. .. 0 0 0 0 0 0 0Private nonguaranteed .. .. .. 0 -12 -12 20 -25 14 -26 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 -12 -12 20 -25 14 -26Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 30 22 37 35 22 34 8





507TAJIKISTAN




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 0 66 366 178 32 -241 25 95 Net flows on debt .. .. .. 58 52 145 27 -4 77 -34 Net change in interest arrears .. .. 0 -30 24 -1 6 4 -18 -18 Interest capitalized .. .. .. 23 0 6 0 0 11 12 Debt forgiveness or reduction .. .. 0 0 0 0 0 -2 -18 -23 Cross-currency valuation .. .. 0 -4 -3 -14 -4 -12 -12 34 Residual .. .. 0 11 293 43 3 -227 -16 123



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


508TANZANIA


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 212 5,324 6,458 7,386 7,199 7,669 8,066 7,394 6,679 7,244Long-term debt (LDOD) 188 3,382 5,799 6,148 6,105 6,484 6,733 6,279 5,779 6,201Public and publicly guaranteed 173 3,298 5,787 6,103 6,064 6,448 6,701 6,251 5,756 6,182Private nonguaranteed 15 84 12 45 41 37 32 28 24 20Use of IMF credit 0 171 140 206 246 268 312 324 341 400Short-term debt 24 1,771 520 1,032 848 917 1,020 791 558 643of which interest arrears on LDOD 0 1,468 404 904 709 769 862 589 438 482 Official creditors 0 1,464 280 721 539 585 696 415 405 443 Private creditors 0 3 124 183 170 184 167 174 33 39Memo: principal arrears on LDOD 0 593 824 1,612 1,112 1,095 1,230 637 494 525 Official creditors 0 586 628 1,314 914 913 1,052 473 430 469 Private creditors 0 7 196 297 198 182 178 164 64 56Memo: export credits 0 0 1,278 907 1,034 773 557 544 472 243

TOTAL DEBT FLOWS Disbursements 56 433 325 246 336 264 341 261 226 241Long-term debt 56 366 296 209 251 216 260 208 175 189IMF purchases 0 66 29 37 85 48 80 53 51 52Principal repayments 4 81 118 166 121 136 136 132 106 77Long-term debt 4 49 89 145 90 98 107 122 104 73IMF repurchases 0 33 28 22 31 38 29 10 2 5Net flows on debt 52 404 223 148 226 138 214 173 39 205of which short-term debt 0 53 16 68 12 9 10 44 -82 41Interest payments (INT) 3 80 62 103 48 112 82 66 48 68Long-term debt 3 48 47 96 40 103 73 54 39 61IMF charges 0 7 6 1 1 1 1 2 2 2Short-term debt 0 26 9 6 6 7 8 10 6 6Net transfers on debt 49 324 162 45 179 26 132 108 -9 137Total debt service paid (TDS) 7 161 179 269 169 248 218 198 154 145Long-term debt 7 96 136 240 131 201 180 176 143 133IMF repurchases and charges 0 39 34 23 32 39 31 12 4 7Short-term debt (interest only) 0 26 9 6 6 7 8 10 6 6


NET RESOURCE FLOWS 62 808 884 645 750 939 1,244 1,280 1,326 1,161Net flow of long-term debt (ex. IMF) 52 318 207 64 161 118 153 86 72 117Foreign direct investment (net) 3 5 0 150 158 172 517 463 327 240Portfolio equity flows 0 0 0 0 0 0 0 0 0 0Grants (excluding technical coop.) 6 485 677 431 431 650 574 730 927 804Memo: technical coop. grants 21 173 208 254 218 190 149 153 155 181 official net resource flows 48 704 879 511 614 784 744 832 1,020 947 private net resource flows 14 104 5 134 136 155 500 448 306 215

NET TRANSFERS 59 760 837 547 706 828 1,162 1,212 1,272 1,086Interest on long-term debt 3 48 47 96 40 103 73 54 39 61Profit remittances on FDI 0 0 0 2 3 8 9 13 15 15Memo: official net transfers 46 670 835 421 576 684 683 781 982 889 private net transfers 13 91 1 127 130 144 479 432 290 197


Gross national income (GNI) .. .. 4,072 6,378 7,583 8,257 8,555 8,974 9,255 9,336Exports of goods, serv. & inc. (XGS) .. 762 544 1,422 1,254 1,179 1,187 1,341 1,511 1,643Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 8 8Imports of goods & services (MGS) .. 1,412 1,665 2,272 2,130 2,490 2,359 2,230 2,390 2,315International reserves (RES) 65 20 193 440 622 599 775 974 1,157 1,529Current account balance .. -521 -559 -413 -473 -751 -835 -499 -480 -251

4. DEBT INDICATORS

EDT / XGS (%) .. 698.9 1,186.6 519.2 573.9 650.2 679.7 551.4 442.0 440.9EDT / GNI (%) .. .. 158.6 115.8 94.9 92.9 94.3 82.4 72.2 77.6TDS / XGS (%) .. 21.2 32.9 18.9 13.5 21.0 18.4 14.7 10.2 8.9INT / XGS (%) .. 10.5 11.3 7.2 3.8 9.5 6.9 4.9 3.1 4.1INT / GNI (%) .. .. 1.5 1.6 0.6 1.4 1.0 0.7 0.5 0.7RES / EDT (%) 30.6 0.4 3.0 6.0 8.6 7.8 9.6 13.2 17.3 21.1RES / MGS (months) .. 0.2 1.4 2.3 3.5 2.9 3.9 5.2 5.8 7.9Short-term / EDT (%) 11.3 33.3 8.0 14.0 11.8 12.0 12.6 10.7 8.4 8.9Concessional / EDT (%) 76.9 50.6 53.5 60.7 71.0 72.0 72.6 74.9 78.7 78.9Multilateral / EDT (%) 18.1 10.6 30.6 39.0 40.6 40.9 40.6 44.1 48.3 49.3

509TANZANIA


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 188 3,382 5,799 6,148 6,105 6,484 6,733 6,279 5,779 6,201Public and publicly guaranteed 173 3,298 5,787 6,103 6,064 6,448 6,701 6,251 5,756 6,182Official creditors 168 3,041 5,300 5,711 5,803 6,197 6,463 6,045 5,665 6,110 Multilateral 38 564 1,976 2,879 2,922 3,139 3,274 3,264 3,229 3,570 Concessional 35 305 1,619 2,733 2,813 3,049 3,200 3,205 3,194 3,537 Bilateral 129 2,477 3,324 2,832 2,881 3,057 3,189 2,781 2,436 2,540 Concessional 129 2,388 1,837 1,751 2,298 2,475 2,659 2,337 2,059 2,179Private creditors 6 257 487 392 261 251 238 206 91 72 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 32 83 70 65 66 77 80 17 12 Other private 6 225 405 322 196 185 162 126 74 59Private nonguaranteed 15 84 12 45 41 37 32 28 24 20 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 15 84 12 45 41 37 32 28 24 20Memo: IBRD 4 198 243 56 34 22 16 11 8 6 IDA 35 242 1,250 2,242 2,306 2,463 2,594 2,593 2,588 2,869



NET FLOWS ON DEBT 52 318 207 64 161 118 153 86 72 117Public and publicly guaranteed 47 303 207 63 165 122 157 91 76 121Official creditors 42 218 202 80 183 135 170 102 93 143 Multilateral 11 114 155 121 180 124 199 156 104 163 Concessional 9 63 174 158 207 145 209 167 116 168 Bilateral 31 104 47 -41 3 11 -28 -54 -11 -20 Concessional 30 77 26 -13 2 1 -21 -19 6 -11Private creditors 6 84 5 -17 -18 -13 -13 -12 -17 -22 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 4 -3 -1 -1 4 5 -7 -5 Other private 6 76 0 -14 -16 -12 -17 -17 -10 -16Private nonguaranteed 5 15 0 1 -4 -4 -4 -4 -4 -4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 5 15 0 1 -4 -4 -4 -4 -4 -4Memo: IBRD 1 29 -26 -27 -20 -12 -6 -4 -3 -2 IDA 9 34 181 121 167 85 175 133 100 143

510TANZANIA



NET TRANSFERS ON DEBT 49 270 160 -31 121 14 80 32 32 56Public and publicly guaranteed 45 262 160 -32 126 20 85 38 37 61Official creditors 40 184 158 -10 145 34 109 51 55 85 Multilateral 10 96 128 75 145 88 170 133 79 138 Concessional 9 61 165 125 182 124 184 148 99 144 Bilateral 29 88 30 -85 1 -53 -61 -82 -24 -53 Concessional 28 63 15 -35 0 -53 -47 -37 -5 -37Private creditors 6 78 1 -22 -19 -15 -24 -13 -18 -24 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 8 4 -4 -2 -1 4 5 -7 -6 Other private 6 70 -3 -18 -18 -14 -28 -19 -11 -18Private nonguaranteed 4 9 0 0 -6 -5 -5 -5 -5 -5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 9 0 0 -6 -5 -5 -5 -5 -5Memo: IBRD 1 14 -43 -33 -24 -14 -8 -6 -4 -3 IDA 9 33 172 104 151 68 156 119 84 126


UNDISBURSED DEBT 315 1,163 1,169 1,244 1,157 1,105 916 995 1,246 1,244Official creditors 311 1,086 1,164 1,235 1,145 1,094 882 950 1,208 1,206Private creditors 4 77 5 9 12 11 33 45 38 39Memorandum items Concessional LDOD 163 2,693 3,456 4,483 5,111 5,524 5,859 5,542 5,254 5,717 Variable rate LDOD 15 89 467 518 338 313 307 273 186 186 Public sector LDOD 173 3,270 5,729 6,005 5,984 6,370 6,634 6,198 5,720 6,149 Private sector LDOD 15 112 70 144 121 114 99 81 60 52



511TANZANIA




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 601 -39 -187 470 397 -672 -715 565 Net flows on debt 52 404 223 148 226 138 214 173 39 205 Net change in interest arrears .. .. 61 0 -195 60 93 -273 -151 44 Interest capitalized .. .. 96 9 229 13 2 142 14 11 Debt forgiveness or reduction .. .. -102 -29 -254 -71 -26 -393 -279 -97 Cross-currency valuation .. .. 118 -439 -509 -79 -74 -310 -245 332 Residual .. .. 204 272 317 409 188 -11 -92 71



2003 2004 2005 2006 2007 2008 2009 2010 2011 2012


512THAILAND


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 1,001 8,297 28,094 112,838 109,699 104,917 96,770 79,716 67,211 59,211Long-term debt (LDOD) 726 5,646 19,771 65,122 69,434 72,019 69,920 61,774 52,307 46,902Public and publicly guaranteed 324 3,943 12,460 16,887 22,292 28,088 31,306 29,458 26,239 22,628Private nonguaranteed 402 1,703 7,311 48,235 47,142 43,931 38,615 32,316 26,069 24,274Use of IMF credit 0 348 1 0 2,429 3,238 3,431 3,062 1,681 391Short-term debt 275 2,303 8,322 47,715 37,836 29,660 23,418 14,880 13,223 11,919of which interest arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: principal arrears on LDOD 0 0 0 0 0 0 0 0 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0Memo: export credits 0 0 3,106 9,278 12,211 5,988 5,524 4,125 3,156 3,201

TOTAL DEBT FLOWS Disbursements 220 2,648 4,569 14,550 14,757 8,134 6,304 4,021 8,672 8,625Long-term debt 220 2,604 4,569 14,550 12,280 7,456 6,030 4,021 8,672 8,625IMF purchases 0 45 0 0 2,477 678 273 0 0 0Principal repayments 131 804 3,264 4,306 6,177 7,811 9,438 9,144 17,011 17,187Long-term debt 131 782 2,983 4,306 6,177 7,811 9,438 8,946 15,722 15,827IMF repurchases 0 22 281 0 0 0 0 198 1,289 1,360Net flows on debt 90 1,808 3,515 13,864 -1,300 -7,852 -9,376 -13,661 -9,996 -9,866of which short-term debt 0 -37 2,210 3,620 -9,879 -8,176 -6,242 -8,538 -1,657 -1,304Interest payments (INT) 33 814 2,026 5,218 5,633 4,942 6,772 4,850 3,304 2,551Long-term debt 33 473 1,355 3,111 3,468 3,755 5,629 3,777 2,618 2,095IMF charges 0 13 21 0 14 121 129 168 124 37Short-term debt 0 328 650 2,107 2,150 1,066 1,014 905 562 419Net transfers on debt 57 994 1,489 8,646 -6,933 -12,794 -16,148 -18,510 -13,299 -12,416Total debt service paid (TDS) 163 1,617 5,290 9,524 11,810 12,752 16,210 13,994 20,314 19,738Long-term debt 163 1,254 4,338 7,417 9,645 11,565 15,067 12,723 18,339 17,922IMF repurchases and charges 0 35 302 0 14 121 129 366 1,413 1,397Short-term debt (interest only) 0 328 650 2,107 2,150 1,066 1,014 905 562 419


NET RESOURCE FLOWS 139 2,087 4,663 13,841 13,953 7,331 3,706 -620 -3,167 -6,048Net flow of long-term debt (ex. IMF) 90 1,822 1,586 10,244 6,102 -355 -3,408 -4,925 -7,050 -7,202Foreign direct investment (net) 43 190 2,444 2,336 3,895 7,315 6,103 3,366 3,820 900Portfolio equity flows 0 0 440 1,164 3,868 289 945 901 18 207Grants (excluding technical coop.) 6 75 193 98 88 81 67 38 44 46Memo: technical coop. grants 49 103 230 230 218 200 192 197 168 178 official net resource flows 27 623 292 521 6,017 1,177 2,329 528 -112 -4,056 private net resource flows 111 1,464 4,371 13,320 7,935 6,154 1,377 -1,149 -3,055 -1,992

NET TRANSFERS 106 1,576 2,996 8,585 8,857 2,139 -3,469 -5,912 -7,614 -10,447Interest on long-term debt 33 473 1,355 3,111 3,468 3,755 5,629 3,777 2,618 2,095Profit remittances on FDI 0 38 312 2,146 1,628 1,437 1,546 1,515 1,829 2,304Memo: official net transfers 13 506 -150 29 5,577 378 1,239 -480 -1,056 -4,802 private net transfers 93 1,070 3,146 8,556 3,279 1,761 -4,708 -5,433 -6,558 -5,645


Gross national income (GNI) 7,096 32,091 84,272 177,666 146,958 107,990 119,002 120,635 113,395 124,389Exports of goods, serv. & inc. (XGS) .. 8,575 31,289 75,385 76,161 69,232 74,502 85,997 80,059 85,470Worker remit. & comp. of employees 0 376 973 3,613 3,323 2,850 2,923 3,393 2,505 2,760Imports of goods & services (MGS) .. 10,861 38,783 90,836 79,661 55,404 62,427 77,269 74,439 78,438International reserves (RES) 911 3,026 14,258 38,645 26,897 29,537 34,781 32,665 33,041 38,903Current account balance .. -2,076 -7,281 -14,691 -3,021 14,243 12,428 9,313 6,221 7,650

4. DEBT INDICATORS


513THAILAND


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 726 5,646 19,771 65,122 69,434 72,019 69,920 61,774 52,307 46,902Public and publicly guaranteed 324 3,943 12,460 16,887 22,292 28,088 31,306 29,458 26,239 22,628Official creditors 291 2,168 8,283 10,553 15,418 18,200 21,848 20,817 19,103 16,249 Multilateral 164 992 3,716 2,978 3,590 4,602 5,427 5,330 5,434 3,452 Concessional 0 42 247 273 255 246 232 212 194 185 Bilateral 127 1,175 4,567 7,575 11,828 13,598 16,422 15,487 13,669 12,797 Concessional 93 787 4,034 6,664 6,330 7,325 9,240 8,978 8,558 9,657Private creditors 33 1,776 4,177 6,334 6,874 9,887 9,457 8,641 7,136 6,378 Bonds 0 148 738 1,967 2,766 3,035 2,840 2,630 2,399 2,142 Commercial banks 3 1,339 2,126 3,445 3,277 6,003 5,881 5,054 3,909 3,709 Other private 30 289 1,313 921 831 850 737 958 828 528Private nonguaranteed 402 1,703 7,311 48,235 47,142 43,931 38,615 32,316 26,069 24,274 Bonds 0 0 40 10,610 11,411 10,627 9,501 8,414 6,972 6,263 Commercial banks and other 402 1,703 7,272 37,626 35,731 33,304 29,113 23,901 19,097 18,011Memo: IBRD 159 671 2,421 1,607 1,728 2,111 2,723 2,940 2,998 2,346 IDA 0 32 109 100 98 96 93 90 86 83

DISBURSEMENTS 220 2,604 4,569 14,550 12,280 7,456 6,030 4,021 8,672 8,625Public and publicly guaranteed 51 1,315 1,277 2,600 8,080 4,956 4,030 3,021 2,334 1,774Official creditors 38 621 886 1,354 6,576 1,824 3,128 2,156 1,975 1,233 Multilateral 21 235 263 284 1,062 1,142 1,119 751 504 180 Concessional 0 7 2 0 0 0 0 0 0 0 Bilateral 18 386 624 1,070 5,514 681 2,009 1,405 1,471 1,053 Concessional 11 179 504 995 664 674 1,304 1,399 1,460 1,050Private creditors 13 694 391 1,246 1,504 3,132 902 865 359 541 Bonds 0 44 0 514 1,055 300 0 0 288 0 Commercial banks 0 606 110 721 407 2,812 895 455 2 519 Other private 13 44 280 11 42 20 8 410 69 22Private nonguaranteed 169 1,288 3,292 11,950 4,200 2,500 2,000 1,000 6,338 6,851 Bonds 0 0 0 3,370 1,264 0 0 0 0 48 Commercial banks and other 169 1,288 3,292 8,580 2,936 2,500 2,000 1,000 6,338 6,803Memo: IBRD 19 145 174 138 443 498 806 456 365 104 IDA 0 5 0 0 0 0 0 0 0 0

PRINCIPAL REPAYMENTS 131 782 2,983 4,306 6,177 7,811 9,438 8,946 15,722 15,827Public and publicly guaranteed 23 172 2,393 1,316 1,151 1,029 2,404 3,011 3,740 6,563Official creditors 17 73 788 931 646 728 866 1,665 2,131 5,336 Multilateral 9 35 438 275 263 263 313 753 349 2,231 Concessional 0 0 8 11 11 13 15 14 13 14 Bilateral 8 38 349 656 383 465 553 912 1,783 3,105 Concessional 4 13 102 411 282 373 361 623 725 609Private creditors 6 98 1,605 384 505 300 1,538 1,346 1,609 1,228 Bonds 0 0 87 85 220 72 233 174 467 300 Commercial banks 0 52 1,324 206 231 139 1,145 1,068 1,022 853 Other private 6 47 194 93 54 89 160 104 120 75Private nonguaranteed 107 610 591 2,991 5,027 6,782 7,034 5,935 11,981 9,264 Bonds 0 0 0 25 373 859 1,125 1,044 1,426 758 Commercial banks and other 107 610 591 2,966 4,653 5,922 5,909 4,890 10,555 8,506Memo: IBRD 9 26 207 196 192 179 180 181 260 800 IDA 0 0 1 2 2 2 3 3 3 3

NET FLOWS ON DEBT 90 1,822 1,586 10,244 6,102 -355 -3,408 -4,925 -7,050 -7,202Public and publicly guaranteed 28 1,143 -1,115 1,284 6,929 3,927 1,626 10 -1,406 -4,789Official creditors 21 548 99 423 5,929 1,096 2,262 491 -156 -4,102 Multilateral 11 200 -176 9 798 879 805 -3 155 -2,051 Concessional 0 7 -6 -11 -11 -13 -15 -14 -13 -14 Bilateral 10 348 274 414 5,131 216 1,457 493 -311 -2,052 Concessional 6 166 402 584 382 301 943 776 735 442Private creditors 7 595 -1,214 861 1,000 2,832 -636 -481 -1,250 -687 Bonds 0 44 -87 428 835 228 -233 -174 -179 -300 Commercial banks 0 554 -1,213 514 176 2,674 -250 -613 -1,020 -335 Other private 7 -3 86 -82 -11 -70 -153 306 -51 -52Private nonguaranteed 62 678 2,701 8,959 -827 -4,282 -5,034 -4,935 -5,644 -2,412 Bonds 0 0 0 3,345 891 -859 -1,125 -1,044 -1,426 -710 Commercial banks and other 62 678 2,701 5,614 -1,717 -3,422 -3,909 -3,890 -4,217 -1,703Memo: IBRD 10 120 -34 -58 251 319 626 275 106 -696 IDA 0 4 -1 -2 -2 -2 -3 -3 -3 -3

514THAILAND


INTEREST PAYMENTS (LINT) 33 473 1,355 3,111 3,468 3,755 5,629 3,777 2,618 2,095Public and publicly guaranteed 16 269 874 875 853 1,254 1,681 1,578 1,404 1,072Official creditors 14 117 442 492 440 798 1,090 1,008 944 746 Multilateral 9 75 284 206 190 248 324 350 342 344 Concessional 0 1 5 7 5 6 6 6 5 2 Bilateral 5 42 158 286 250 550 766 658 602 402 Concessional 3 19 110 210 197 192 375 252 222 210Private creditors 2 152 432 383 414 455 591 570 460 326 Bonds 0 9 46 111 160 179 204 193 178 142 Commercial banks 0 117 227 227 215 238 353 351 264 170 Other private 1 26 160 45 39 39 34 25 18 14Private nonguaranteed 17 204 481 2,236 2,615 2,501 3,948 2,199 1,214 1,023 Bonds 0 0 2 579 560 587 521 476 399 325 Commercial banks and other 17 204 479 1,657 2,054 1,914 3,427 1,723 814 698Memo: IBRD 9 53 188 122 104 122 173 178 189 191 IDA 0 0 1 1 1 1 1 1 1 1

NET TRANSFERS ON DEBT 57 1,349 232 7,133 2,634 -4,109 -9,036 -8,702 -9,667 -9,297Public and publicly guaranteed 12 875 -1,989 410 6,076 2,673 -54 -1,568 -2,810 -5,861Official creditors 7 431 -343 -69 5,490 297 1,172 -518 -1,100 -4,848 Multilateral 2 125 -460 -197 609 631 482 -353 -187 -2,395 Concessional 0 6 -11 -19 -16 -20 -21 -20 -18 -16 Bilateral 5 306 116 128 4,881 -334 691 -165 -913 -2,453 Concessional 3 147 292 375 185 109 568 524 514 232Private creditors 5 444 -1,646 479 586 2,376 -1,227 -1,051 -1,710 -1,013 Bonds 0 35 -133 317 675 48 -437 -367 -357 -442 Commercial banks -1 438 -1,440 288 -39 2,436 -603 -965 -1,284 -504 Other private 5 -29 -74 -127 -50 -108 -187 281 -69 -67Private nonguaranteed 45 475 2,221 6,723 -3,441 -6,783 -8,982 -7,134 -6,857 -3,436 Bonds 0 0 -2 2,766 330 -1,446 -1,646 -1,520 -1,826 -1,035 Commercial banks and other 45 475 2,223 3,957 -3,772 -5,337 -7,336 -5,614 -5,031 -2,401Memo: IBRD 1 66 -222 -180 147 197 453 97 -84 -887 IDA 0 4 -2 -3 -3 -3 -4 -4 -4 -4

DEBT SERVICE (LTDS) 163 1,254 4,338 7,417 9,645 11,565 15,067 12,723 18,339 17,922Public and publicly guaranteed 39 441 3,267 2,190 2,004 2,283 4,084 4,590 5,145 7,635Official creditors 31 190 1,230 1,423 1,086 1,527 1,956 2,673 3,075 6,081 Multilateral 18 111 722 481 453 511 637 1,104 691 2,575 Concessional 0 1 13 19 16 20 21 20 18 16 Bilateral 13 80 507 942 633 1,015 1,319 1,570 2,384 3,507 Concessional 8 32 212 620 479 564 736 875 946 818Private creditors 8 250 2,037 767 918 756 2,129 1,916 2,069 1,554 Bonds 0 9 133 197 380 252 437 367 645 442 Commercial banks 1 168 1,550 433 446 376 1,497 1,420 1,286 1,023 Other private 7 73 354 138 93 128 195 129 139 89Private nonguaranteed 124 814 1,071 5,227 7,641 9,283 10,982 8,134 13,195 10,287 Bonds 0 0 2 604 934 1,446 1,646 1,520 1,826 1,083 Commercial banks and other 124 814 1,070 4,623 6,707 7,837 9,336 6,614 11,369 9,204Memo: IBRD 18 79 396 318 296 301 353 360 449 991 IDA 0 1 2 3 3 3 4 4 4 4

UNDISBURSED DEBT 156 3,015 3,631 7,464 7,701 9,458 10,123 7,625 5,663 4,122Official creditors 145 2,650 2,936 5,424 5,672 7,377 8,981 6,998 4,812 3,527Private creditors 11 364 694 2,040 2,029 2,082 1,142 627 851 595Memorandum items Concessional LDOD 93 829 4,281 6,937 6,585 7,571 9,472 9,190 8,752 9,842 Variable rate LDOD 402 2,903 10,204 51,444 51,238 52,775 48,982 42,095 34,940 30,881 Public sector LDOD 312 3,943 12,460 16,887 22,292 28,088 31,306 29,458 26,239 22,628 Private sector LDOD 414 1,703 7,311 48,235 47,142 43,931 38,615 32,316 26,069 24,274



515THAILAND




8. DEBT STOCK-FLOW RECONCILIATIONTotal change in debt stocks .. .. 4,606 12,799 -3,139 -4,782 -8,147 -17,054 -12,504 -8,000 Net flows on debt 90 1,808 3,515 13,864 -1,300 -7,852 -9,376 -13,661 -9,996 -9,866 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 -6 0 0 0 0 Cross-currency valuation .. .. 1,024 -1,303 -1,163 1,301 1,283 -1,966 -1,917 1,484 Residual .. .. 66 239 -676 1,775 -54 -1,428 -591 382

9. AVERAGE TERMS OF NEW COMMITMENTSALL CREDITORS Interest (%) 6.8 9.6 4.8 4.7 6.0 5.0 3.5 1.5 2.1 2.2 Maturity (years) 19.2 16.8 22.1 16.9 12.4 12.7 18.5 29.0 7.3 24.6 Grace period (years) 4.4 5.3 7.2 5.9 5.9 3.8 5.1 6.9 2.3 4.6 Grant element (%) 19.6 6.4 38.2 33.6 22.1 24.8 39.9 59.9 28.9 45.3Official creditors Interest (%) 6.8 7.1 4.4 4.0 5.9 3.9 3.9 1.5 2.4 2.2 Maturity (years) 19.6 21.4 25.6 23.0 12.7 17.9 20.7 38.1 8.9 36.3 Grace period (years) 4.4 6.0 7.8 6.2 5.6 5.1 5.4 8.2 1.5 6.9 Grant element (%) 19.7 20.5 43.3 43.7 22.8 36.6 40.5 71.1 30.8 63.5Private creditors Interest (%) 6.0 13.8 5.8 5.9 6.6 6.3 1.9 1.6 1.8 2.3 Maturity (years) 11.5 8.7 14.7 7.9 10.9 6.8 8.8 7.3 5.9 3.3 Grace period (years) 3.0 4.1 5.9 5.3 6.9 2.2 4.0 3.6 3.0 0.3 Grant element (%) 18.6 -18.3 27.5 18.3 18.5 11.7 37.4 32.7 27.2 12.5Memorandum items Commitments 106 1,869 1,755 2,729 8,941 7,085 5,453 1,327 1,177 561 Official creditors 100 1,191 1,196 1,639 7,445 3,751 4,446 938 556 361 Private creditors 5 678 560 1,090 1,496 3,334 1,006 389 620 200


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

TOTAL Disbursements 1,442 1,007 584 339 183 95 22 0 0 0Principal 10,912 7,161 6,673 4,992 4,781 2,865 2,257 1,428 1,591 1,033Interest 1,526 1,240 1,044 823 655 508 402 326 277 234Official creditors Disbursements 1,353 969 567 337 183 95 22 0 0 0Principal 1,485 2,057 2,067 1,159 1,287 1,324 1,035 1,037 992 851Interest 585 529 447 375 346 312 261 229 197 166 Bilateral creditors Disbursements 1,147 835 483 270 130 55 22 0 0 0 Principal 1,193 1,736 1,754 849 976 711 721 721 674 573 Interest 419 368 294 233 215 193 176 158 141 125 Multilateral creditors Disbursements 206 134 85 68 53 40 0 0 0 0 Principal 292 320 313 310 311 612 314 316 318 279 Interest 166 161 152 142 131 118 86 71 56 41Private creditors Disbursements 89 38 16 1 0 0 0 0 0 0Principal 9,427 5,105 4,606 3,834 3,494 1,541 1,223 391 599 182Interest 940 711 597 448 310 196 140 98 80 67 Commercial banks Disbursements 86 36 16 1 0 0 0 0 0 0 Principal 882 810 572 300 443 226 465 96 32 21 Interest 101 78 55 41 33 22 13 5 1 0 Other private Disbursements 3 2 0 0 0 0 0 0 0 0 Principal 8,545 4,295 4,034 3,534 3,051 1,316 757 295 567 160 Interest 839 633 542 407 277 174 127 93 79 67

516TOGO


1970 1980 1990 1996 1997 1998 1999 2000 2001 2002


TOTAL DEBT STOCKS (EDT) 40 1,122 1,281 1,488 1,346 1,472 1,521 1,432 1,406 1,581Long-term debt (LDOD) 40 970 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337Public and publicly guaranteed 40 970 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337Private nonguaranteed 0 0 0 0 0 0 0 0 0 0Use of IMF credit 0 33 87 90 88 95 83 70 57 52Short-term debt 0 120 113 88 44 52 154 133 146 192of which interest arrears on LDOD 0 15 1 27 3 14 34 63 62 90 Official creditors 0 7 1 3 3 14 34 63 62 90 Private creditors 0 9 0 24 0 0 0 0 0 0Memo: principal arrears on LDOD 0 35 3 59 2 13 35 67 94 143 Official creditors 0 14 2 9 2 13 35 67 94 143 Private creditors 0 20 1 50 0 0 0 0 0 0Memo: export credits 0 0 351 285 277 307 278 266 267 363

TOTAL DEBT FLOWS Disbursements 5 119 110 101 72 84 38 25 33 13Long-term debt 5 97 89 101 57 69 38 25 33 13IMF purchases 0 22 21 0 15 15 0 0 0 0Principal repayments 2 19 43 32 40 28 32 19 22 10Long-term debt 2 19 27 20 28 17 22 10 11 1IMF repurchases 0 0 16 11 12 11 9 9 10 9Net flows on debt 3 108 16 72 12 52 87 -43 25 22of which short-term debt 0 7 -51 3 -20 -3 81 -49 14 19Interest payments (INT) 1 34 43 26 16 12 13 10 11 3Long-term debt 1 19 33 23 13 10 8 5 6 0IMF charges 0 0 4 1 0 0 0 0 0 0Short-term debt 0 14 6 2 2 2 4 5 5 2Net transfers on debt 2 74 -27 45 -4 40 74 -54 14 19Total debt service paid (TDS) 2 52 86 58 56 41 45 30 32 13Long-term debt 2 38 60 44 42 27 31 15 17 1IMF repurchases and charges 0 0 20 12 12 12 10 10 11 10Short-term debt (interest only) 0 14 6 2 2 2 4 5 5 2



NET TRANSFERS 10 117 156 158 88 129 83 90 88 94Interest on long-term debt 1 19 33 23 13 10 8 5 6 0Profit remittances on FDI 0 0 15 6 16 19 19 17 25 25Memo: official net transfers 10 41 154 128 79 106 50 59 49 44 private net transfers 0 76 2 30 9 23 33 31 40 50


Gross national income (GNI) 248 1,096 1,598 1,439 1,470 1,393 1,383 1,192 1,234 1,354Exports of goods, serv. & inc. (XGS) .. 580 723 616 555 541 505 472 506 533Worker remit. & comp. of employees 0 10 27 29 26 19 23 34 69 69Imports of goods & services (MGS) .. 752 912 841 762 770 699 664 701 ..International reserves (RES) 35 85 358 88 119 118 122 152 126 205Current account balance .. -95 -84 -154 -117 -140 -127 -140 -169 ..

4. DEBT INDICATORS


517TOGO


5. LONG-TERM DEBT

DEBT OUTSTANDING (LDOD) 40 970 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337Public and publicly guaranteed 40 970 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337Official creditors 32 554 1,029 1,260 1,214 1,325 1,285 1,230 1,203 1,337 Multilateral 2 116 560 740 718 800 793 768 754 824 Concessional 2 90 516 718 705 777 774 751 740 807 Bilateral 30 439 469 520 496 525 492 462 449 514 Concessional 30 228 189 253 256 275 272 254 248 283Private creditors 8 415 52 50 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 96 51 50 0 0 0 0 0 0 Other private 8 319 1 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 4 5 0 0 0 0 0 0 0 IDA 2 43 393 576 561 620 622 604 585 632



NET FLOWS ON DEBT 3 78 62 80 29 52 15 15 21 12Public and publicly guaranteed 3 78 62 80 29 52 15 15 21 12Official creditors 3 37 62 80 35 52 15 15 21 12 Multilateral 1 35 28 55 21 54 18 13 13 9 Concessional 1 30 39 58 28 45 21 14 14 9 Bilateral 2 3 34 25 13 -2 -3 2 8 3 Concessional 2 4 43 26 15 0 1 2 8 3Private creditors 0 41 0 0 -6 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -2 0 0 -6 0 0 0 0 0 Other private 0 43 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 -8 0 0 0 0 0 0 0 IDA 1 12 30 52 13 39 15 10 1 7

518TOGO



NET TRANSFERS ON DEBT 2 59 29 57 15 42 7 11 16 12Public and publicly guaranteed 2 59 29 57 15 42 7 11 16 12Official creditors 3 26 34 57 21 42 7 11 16 12 Multilateral 1 33 20 47 14 49 11 9 8 9 Concessional 1 29 35 51 22 40 15 9 8 9 Bilateral 2 -7 14 10 8 -7 -4 2 8 3 Concessional 2 3 40 21 13 -3 -1 2 8 3Private creditors -1 33 -5 0 -6 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -10 -5 0 -6 0 0 0 0 0 Other private -1 43 0 0 0 0 0 0 0 0Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0Memo: IBRD 0 0 -9 0 0 0 0 0 0 0 IDA 1 12 28 47 9 36 10 7 -4 7


UNDISBURSED DEBT 7 155 290 187 224 217 188 152 120 100Official creditors 6 151 290 187 224 217 188 152 120 100Private creditors 1 3 0 0 0 0 0 0 0 0Memorandum items Concessional LDOD 31 318 705 971 961 1,052 1,046 1,005 987 1,090 Variable rate LDOD 0 108 37 139 119 136 126 115 113 131 Public sector LDOD 36 968 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337 Private sector LDOD 3 1 0 0 0 0 0 0 0 0



Documents

T Go Global Development - World Bankdocuments1.worldbank.org/curated/ru/858571468137998042/... · 2016. 7. 10. · T Global Development Finance ISBN-0-8213-5740-9 THE WORLD BANK 1818