Abstract
On March 15, the IMF, the Bank for International Settlements (BIS), the Organization for Economic Cooperation and Development (OECD), and the World Bank announced the joint publication of the first of a new series of quarterly releases of statistics for 176 developing and transition countries, in response to requests for dissemination of more timely external debt indicators. The statistics are hosted at www.oecd.org/dac/debt and are also accessible through each agency’s website. The IMF’s website is www.imf.org. Following is the text of News Brief 99/11.
The aim of this initiative is to facilitate access to a single set of data that brings together information currently compiled and published separately by the contributing institutions on components of countries’ external debt. The publication also includes data on international reserves.
This is a project of the Inter-Agency Task Force on Finance Statistics, which coordinates work on finance statistics. It is chaired by the IMF and comprises, in addition to the four above-mentioned organizations, the United Nations, the European Central Bank, and Eurostat [the Statistical Office of the European Communities].
The statistics are mostly from creditor and market sources, but also include data provided by debtor countries. Particular emphasis is placed on debt due within a year. Also, to help analysts, flow data (where available) are provided in addition to stock data. There remain differences between the series in their coverage, frequency, and the time lag before publication, and the data do not yet provide a completely comprehensive and consistent measure of total external debt in each country. Nevertheless, they bring together for the first time the best international comparative data currently available on external debt.
The coverage, definitions, and limitations are explained in a methodological note on the website. Currently, the figures cover essentially all countries and territories on the list of aid recipients of the Development Assistance Committee of the OECD, including practically all non-OECD countries, as well as the Czech Republic, Hungary, Korea, Mexico, Poland, and Turkey. Data for off shore financial centers are separately distinguished.
This publication is part of an evolutionary process. The contributing institutions are currently working on improving the comprehensiveness, quality, and timeliness of the statistics.
See table (facing page) for a list of available data series and a brief description.
Joint statistics on external debt
Adjusted for changes in exchange rates to the U.S. dollar during the period.
Flows are available.
Liabilities with an original maturity of one year or less, plus repayments due within the next 12 months on liabilities with an original maturity of over a year, plus arrears.
Joint statistics on external debt
| Data Series | Source | Description | |
|---|---|---|---|
| External debt—all maturities | |||
| A | Bank loans1 | BIS | Loans from banks resident in 18 major industrial countries and 6 off shore centers |
| B | Debt securities issued abroad2 | BIS | Money market instruments, bonds, and notes issued in international markets by both public and private sector borrowers |
| C | Brady bonds2 | World Bank | Bonds issued to restructure commercial bank debt under the 1989 Brady Plan |
| D | Nonbank trade credits1 | OECD | Official and officially guaranteed nonbank export credits from 21 OECD countries |
| E | Multilateral claims (IBRD, IDA, IMF)2 | World Bank/IMF | IBRD loans and IDA credits from the World Bank and use of IMF credit |
| F | Official bilateral loans (DAC creditors)2 | OECD | Concessional (aid) and other loans provided mainly for developmental purposes by the 21 member countries of the OECD Development Assistance Committee |
| Debt due within a year3 | |||
| G | Liabilities to banks | BIS | Liabilities to banks that are headquartered in 18 major industrial countries and that report their claims on a worldwide consolidated basis. The data include holdings of short-term securities, which are also included in line H. |
| H | Debt securities issued abroad | BIS | Money market instruments, bonds, and notes issued in international markets by both public and private sector borrowers. The data include securities held by foreign banks, which are also included in line G. |
| I | Nonbank trade credits | OECD | Official and officially guaranteed nonbank export credits from 21 OECD countries |
| Memorandum items | |||
| J | Total liabilities to banks (locational)1 | BIS | Liabilities to banks resident in 18 major industrial countries and 6 off shore centers (line A plus banks’ holdings of debt securities, which are partly included in line B, plus other claims that are not loans or debt securities) |
| K | Of which: officially guaranteed trade credits2 | OECD | Officially guaranteed export credits from banks in 21 OECD countries, included in lines A and J (lines D + K = total export credits) |
| L | Total liabilities to banks (consolidated) | BIS | Liabilities to banks that are headquartered in 18 major industrial countries and that report their claims on a worldwide consolidated basis, both short-term (line G) and long-term liabilities |
| M | International reserve assets (excluding gold) | IMF | Monetary authorities’ holdings of SDRs, reserve position in the IMF, and foreign exchange assets |
Adjusted for changes in exchange rates to the U.S. dollar during the period.
Flows are available.
Liabilities with an original maturity of one year or less, plus repayments due within the next 12 months on liabilities with an original maturity of over a year, plus arrears.
Joint statistics on external debt
| Data Series | Source | Description | |
|---|---|---|---|
| External debt—all maturities | |||
| A | Bank loans1 | BIS | Loans from banks resident in 18 major industrial countries and 6 off shore centers |
| B | Debt securities issued abroad2 | BIS | Money market instruments, bonds, and notes issued in international markets by both public and private sector borrowers |
| C | Brady bonds2 | World Bank | Bonds issued to restructure commercial bank debt under the 1989 Brady Plan |
| D | Nonbank trade credits1 | OECD | Official and officially guaranteed nonbank export credits from 21 OECD countries |
| E | Multilateral claims (IBRD, IDA, IMF)2 | World Bank/IMF | IBRD loans and IDA credits from the World Bank and use of IMF credit |
| F | Official bilateral loans (DAC creditors)2 | OECD | Concessional (aid) and other loans provided mainly for developmental purposes by the 21 member countries of the OECD Development Assistance Committee |
| Debt due within a year3 | |||
| G | Liabilities to banks | BIS | Liabilities to banks that are headquartered in 18 major industrial countries and that report their claims on a worldwide consolidated basis. The data include holdings of short-term securities, which are also included in line H. |
| H | Debt securities issued abroad | BIS | Money market instruments, bonds, and notes issued in international markets by both public and private sector borrowers. The data include securities held by foreign banks, which are also included in line G. |
| I | Nonbank trade credits | OECD | Official and officially guaranteed nonbank export credits from 21 OECD countries |
| Memorandum items | |||
| J | Total liabilities to banks (locational)1 | BIS | Liabilities to banks resident in 18 major industrial countries and 6 off shore centers (line A plus banks’ holdings of debt securities, which are partly included in line B, plus other claims that are not loans or debt securities) |
| K | Of which: officially guaranteed trade credits2 | OECD | Officially guaranteed export credits from banks in 21 OECD countries, included in lines A and J (lines D + K = total export credits) |
| L | Total liabilities to banks (consolidated) | BIS | Liabilities to banks that are headquartered in 18 major industrial countries and that report their claims on a worldwide consolidated basis, both short-term (line G) and long-term liabilities |
| M | International reserve assets (excluding gold) | IMF | Monetary authorities’ holdings of SDRs, reserve position in the IMF, and foreign exchange assets |
Adjusted for changes in exchange rates to the U.S. dollar during the period.
Flows are available.
Liabilities with an original maturity of one year or less, plus repayments due within the next 12 months on liabilities with an original maturity of over a year, plus arrears.