RESTRICTED Report No. EC - 115 This report was prepared for use within the Bank and its affiliated organizations. They do not accept responsibility for its accuracy or completeness. The report may not be published nor may it be quoted as representing their views. INTERNA.~10NAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION EXTERNAL PUBLIC DEBT ESTIMATED SERVICE AND PRINCIPAL AMOUNTS CEYLON EAST AFRICA COMMON SERVICES ORGANIZATION FEDERATION OF RHODESIA AND NYASALAND KENYA MALAYA NETHERLANDS NIGERIA NORWAY PAKISTAN ;i TANGANYIKA TRINIDAD AND TOBAGO UGANDA UNITED KINGDOM March 25, 1963 Economic Staff EXTERNAL PUBLIC DEBT - ESTD1ATED SERVICE -AND PRTI'JC IPb.1 A1:IOUNTS l~ For the purpose of these statistics, external public debt a. includes all debt which is payable to creditors out- side the debtor countr,y in foreign currency, goods or services, with an original maturity of one year or ~ore, which is an obligation of the national govern- ment, a political subdivision or an agency of either, or an autonomous public body. It also includes ex- ternal private debt guaranteed by the national govern- ment, a political subdivision or an agency of either, or an autonomous public body, and incurred by debtors located v-Tithin the debtor country. b. does not include: (1) transactions with the Inter- national Monetary Fund, (2) private debts unless they are guaranteed, (3) other external obligations, such as reparations, so long as the amounts and terms have not been q.greed, and G~~,) debts repayable at the option of the borrower in lo'dal currency. 2~ Table 1 shows debts outstanding as of a specified date, usual~ December 31, 1961. In addition,certain debts incurred after thj.s date are also shmm in Table 1. The indebtedness as of !! December 31, 1961 and the debts incurred subsequently should Ii i' not be added together as the information on later debts may I, not be complete and no allovlance has been made for any amorti- zation since December 31, 1961. In Table 1 principal amounts include undisbursed portion of loans. 3. Service payments for the years 1962 through 1971 shown in Table 2 are the estimated amortization and interest payments due in foreign currencies, goods or services on the debts (including undisbursed portions) summarized in Table 1. For a few loans where it has not been possible to separate interest from princi- pal payments, interest ,is included in the amortization column. 4. The service payments in Table 2, which reflect only exist:ing debt, are not forecasts of the total of service payments that may be expected to be made in 1962 through 1971, since not onlY may new debts be contracted, but the terms and composition of the existing debt may be changed. ,. The Bank obtains the information used in the preparati.on of the • tables mainly from reports contributed by the debtor countries; supplementary information is obtained from publi$hed reports of creditor countries and other publications. Some figures are estimates of the Bank staff. CEYlON Table 1: IBRD ESTIMATES OF EXTERNAL PUBLIC DEBT OTJrSTANDmG DUE IN FOREIGN CURRENCIES AS OF DECE}mER 31, 1961 L1 (In thousands of U~S. dollar equivalents) Type o£ debt Debt as of December 31, 1961 ,1/ / PubliclY-issued bonds ~ IBRD loans Loans from other governments Ll 71... Does not include credit agreement with Czechoslovakia, on which sufficient data are not yet available. ~). Net of accumulated sinking funds. 11 Excludes $8.3 million of undisbursed. Table 2: IBRD ESTIMATES OF SERVICE PAY.r·1ENTS ON EXTERNAL PUBLIC DEBT DUE m FOREIGN CURRENCIES AS OF ~ECErmER 31, 1961 (Tn thousands of U.S. dollar equivalents) Service Eayments Year Amorti In- Total zation terest 1962 1,959 2,401 4,)60 1963 4,050 3,,407 7,457 1964 5,277 3,736 9,013 1965 6,868 3,605 10,473 1966 5,529 3,233 8,762 1967 5,586 3,091 8,677 1968 3,997 2,976 6,973 • 1969 4,082 2,898 6,980 1970 4,222 2,731 6,953 1971 3,264 2,558 5,822 ---..... ----~---------------------I\,!-, -------- EAST AFRICA COMHON SERVICES ORGANIZATION Table 1: IBRD ESTIHATES OF EXTERNAL PUBLIC DEBT OUTSTANDJNG DUE IN FOREIGN CURRENClliS • AS OF DECE~·rnER 31, 1961 (In thousands of U.B. dollar equivalents) Debt as of Type of debt December 31, 1961 Publicly-issued bonds /1 130,235 !BRn loan f1 -- 19,940 Loans from other governments 28,048 175.223 /1 Net of accumulated sinking funds off.~9 ,345,000. Z[ Guaranteed by the United Kingdom. T<:b'2.e 2: IBRD ES~~n·lA.TES OF SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCmS AS OF DECEHBER 31, 1961 (In thousands of U.S. dollar equivalents) Service paym(;·r.~~.~ Year AmC:rti- . In- Total %ation terest 1962 3,425 8,955, 12,380 1963 3,506 8,868 12,374 1964 3,590 8,781 12,371 1965 3,680 8,687 12,367 1966 3,773 8,586 12,359 1967 3,872 8,476 12,348 1968 25,457 7,843 33,300 • 1969 18,456 7,210 25,666 1970 15,293 6,185 21,478 1971 15,261 5,180 20,441 FEDERATION OF RHODESIA Al\ID NYA3ALA~ID Table 1: IBRD ESTll'rATES OF EXTERNAL PUBLIC DEBT OUTSTANDING DUE IN FOREIGN CURRENCtES AS OF DECEHBER 31, 1961 WITH HAJOR ADDITIONS TO APRIL 30, 1962 11. (In thousands of U.S. dollar equivalents) }1ajor additions Type of debt Debt as of January 1 - December 31, 1961 April 30, 1962 _ _ Publicly-issued bonds 312>292 !1. Private~-placed debt 19,100 8,000 !ERD loans 134,954 u.s. Government loans AID 11,421 Loans from other governments 57,509 19,172 535,276 27,172 /1 Part of·the debt of the Federation is guaranteed by the United Kingdom. ~ Net of accumulated sinking funds. Table 2: IBRD ESTTIUlTES OF SERVICE PATI1ENTS ON EXTERIJAL PUBLIC DEBT DUE IN FOREIGN CURRENCmS AS OF DECEI13ER 31, 1961 ~~~ITH UAJOR ADDITIONS TO APRIL 30, 1962 (In thousands of U.S. dollar equivalents) Service Eayments Year Amor-Ei- In- Total zation terest 1962 13,510 26,478 39,988 1963 19,716/ 26,391 46,107 1964 21,897 25,349 47,246 1965 25,260 24,596 49,856 1966 16,719 23,517 40,236 • 1967 13,169 22,799 35,968 1968 13,748 ~2J30' 36,053 1969 25,523 11,249 46,772 1970 83,290 20,272 103,562 1971 12,807 17,367 30,174 KENYA Table 1: IBRD ESTIMATES OF EXTERNAL PPBLIC DEBT OUTSTA~IDING DUE IN FOREIGN CURRENCmS AS OF bECElffiER 31, 1961 (In thousands of U.S. dollar equivalents) Type of debt Debt as of December 31, 1961 Publicly-issued bonds Ll 70,474 Privately-placed debt 7,046 IBRD loans /2 14,000 Loans from Other governments 53,425 144.945 Z! Net of accumulated sinking funds of ~~13,546,000. Excludes loans raised for arur- serviced by East African Railways and Harbours Administration. ~ Guaranteed by the United Kingdom Ta'Jle 2: IBRD ESTnrlATES OF SERVICE PAYlliENTS ON EXTER~JAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF DECENBER 31, 1961 /1 (In thousands of U.S. dollar equivalents) Service Eaymen~~ Year Amort i- In- z;;J,i:don terest Total 1962 1,842 10,961 12,803 1963 2,854 10,945 13,799 1964 3,574 10,841 14,415 1965 3,824 10,639 14,463 1966 6,054 10,276 16,330 1967 4,432 9,880 14,312 14', 1968 4,280 9,491 13,771 1969 4,533 9,124 13,657 1970 7,356 8,691 16,047 ,oj; 1971 4,068 8,276 12,344 Zi Includes debt service on all loans listed on Table 1 except £ 2.9 million (~8.1 million) of loans for which no repayment terms are available. 'MAlAYA Table 1: IBRD ESTIMATES OF EXTERNAL PUBLIC DEBT OurSTANlJING DUE IN FOREIGN CURRENCIES AS OF DECE~rnER 31, 1961 L! (In thousands of U.S. dollar equivalents) Debt as of Type of debt December 31, 1961 Pub'?"Cicly-issued bonds !1:. 30,383 IBRD loan 30,600 u.s. Government loans AID 19,600 Loans from other governments 94,061 174.6L1 /l Does not include a loan repayable in Nalayan dollars with Ivr~ 10,000,000 (US~? 3,266,670) outstanding December 31, 1961. il. Net of accumulated sinking funds of ~)17 ,486,000. Table 2: IBRD ESTIFIATES OF SERVICE PAYNENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF DECEHBER 31, 1961 (In thousands of U.S. dollar equivalents) Service paymerrbs Year Amu"Y'ti_ In- Total zation terest 1962 4,530 5,119 9,649 1963 5,118 5,567 10,685 1964 6,148 7,139 13,287 1965 6,202 6,961 13,163 1966 6,307 6,781 13,088 ., 1967 6,420 6,595 13,015 1968 6,591 6,403 12,994 1969 6,744 6,199 12,943 1970 9,948 5,695 15,643 1971 4,838 5,251 10,089 NETHERLANDS Table 1: IBRD ESTIN:ATES OF EXTERNAL PUBLIC DEBT OUTSTANDING DUE IN FOREIGN CURRENCIES AS OF DECEHBER 31, 1961 (In thousands of U.S. dollar equivalents) Debt as o:f Type of debt December 31, 1961 Publicly-issued bonds 1.5,000 IBRD loan L1 1.56 u.S. Government loans Export-Import Bank 24,434 U.S. lend-lease debt 11,.500 AID 117,900 Stio-tota1 153,834 Loans from other governments 66,012 235,002 Z1 Excludes all debt sold to third ,parties inside the Netherlands (approximately ~?49 million) • Table 2: :ffiRD ESTll·IATES OF SERVICE PAYHENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF DECE2·1BER 31, 1961 (In thousa~ds of U.S. dollar equivalents) Servioe payments Year Amort i- ~- Total zation teX'~ist 1962 9,109 6,573 1.5,682 1963 9,.516 6,328 1.5,844 1964 10,079 6,043 16,122 196.5 10,079 .5,742 1.5,821 ~ 1966 10,079 .5,443 15,.522 1967 10,079 .5,143 15,222 1968 10,079 4,843 14,922 1969 10,079 4,.542 14,621 1970 10,086 4,243 14,329 1971 10,079 3,943 14,022 NIGERIA - - Ta~le 1: IBRD ESTIMATES OF EXTERNAL PUBLIC DEBT OUTSTANDING DUE IN FOREIGN CURRENCIES AS OF DECEMBER 31, 1961 WITH ~~JOR REPORTED ADDITIONS TO DECEr1BER 10, 1962 (In thousands of ~.S. dollar equivalents) Debt as of Major additions Type of debt December 31, 1961 January 1 - December 10, 1962 Publicly-issued bonds 31,766 Privately-placed debt 14,715 IBRD loans 28,000 13,500 u.S. Government loans Development Loan Fund 3,744 Loans from other governments 52,841 28,000 131 . 066 41.500 Table 2: IBRD ESTIMA.TES OF SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF DECE~ffiER 31, 1961 WITH MAJOR ADDITIONS TO DECEMBER 10, 1962 (In thou3ands of U.S. dollar equivalents) Service payment,s Year Amort i- In- Total zation terest 1962 6,765 5,951 12,716 1963 9,935 16,606 26,541 1964 6,836 14,903 21,739 1965 6,467 13,387 19,854 1966 21,735 11,892 33, 62 7 1967 6,835 9,729 16,564 If 1968 8,138 8,191 16,329 1969 8,344 6,575 14,919 1970 6,752 5,246 11,998 1971 8,465 4,877 13,342 NORWAY Table 1: IBRD EST:n1ATES OF EXTERNAL PUBLIC DEBT OurSTANDING DUE IN FOREIGN CURRENCIES AS OFDECEHBER 31, 1961 ~vITH [{A.JOR REPOHTED ADDITIONS JANUARY 1, 1962 TO FEBRUARY 26, 196.3 (In thousands of U.S. dollar equivalents) • Naj or additions Debt as of January 1, 1962 Type of debt December 31, 1961 February 26 l 1963 Publicly-issued bonds 201,520 45,812 Privately-placed debt 32,871 IBRD loans 110,878 Loans from other international organizations (European Fund) 9,360 U.s.Government loans Export-Import Bank 13,889 AID 30 : 2 93 Sub-total 44,182 Loans from other governments 62,926 461,737 45,8i2 Table 2: IBRD ESTIMATES OF SERVICE PAYNENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF DECENBER 31, 1961 WITH MAJOR ADDITIONS JANUARY 1, 1962 TO FEBRUARY 26, 1963 (In thousands of U.S. dollar equivalents) ,J 1;' Service payments Year Amort i- In- Total zation terest 1962 40,356 19,801 60;157 1963 47,750 20,842 68,592 1964 37,621 19,239 56,860 1965 28,1'299 17,764 46,063 1966 28,228 16,542 44,770 1967 25,284 15,288 40,572 1968 25,903 14,086 39,9 89 1969 25,471 12,855 38,,326 1970 27,112 11,641 38,753 1971 26,807 10,348 37,155 PAKISTAN Table 1: IBRD ESTIHATES OF EXTERNAL PUBLIC DEBT OUTSTANDING DUE IN FOREIGN CURRENCIES AS OF JUNE 30, 1962 "lITH NAJaR ADDITIONS TO DECEMBER 7, 1962 (In thousands of U.S. dollar equivalents) Major additions Type of debt Debt as of July 1 - June 30, 1962 December 7, 1962 Privately-placed debt 50,843 IBRD loans 225 j 250 23,000 :rnA credits 21,000 6,500 u.S. Government loans Export-Import Bank 47,617 AID 45,000 118,000 v·lheat loan 15,000 Lend-lease silver 3,324 Sub-total 110,941 Loans from other governments 275,463 36,500 681.,497 184.000 Table 2: IBRD ESTllJATES OF SERVICE PAYNENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENC IES AS OF JUNE 30, 1962 WITH MAJOR ADD IT IONS TO DECE~mER 7, 1962 L! (In thousands of U.S. dollar equivalents) Service payments Year Amort i- In- zation terest Total 1962/63 47,366 12,532 59,898 1963/64 34,806 18,510 53,316 1964/65 39,679 20~374 60,053 1965/66 38,485 20,017 58,502 ... 1966/67 40,7 27 19,456 60,183 1967/68 40,613 21,193 61,806 1968/69 39,953 19,926 59,879 1969/70 36,336 18,878 55,214 1970/71 34,062 17,484 51,546 1971/72 32,344 13,463 47,807 f1. Does not include loans amounting to $64,628,000 for which repayment terms are not available G TANGANYIKA Table 1: IBHD ESTll,IATES OF EXTERNAL PUBLIC DEBT OUTSTANDING DUE IN FOREIGN CURRENCmS AS OF DECEHBER 31, 1961 (In thousands of U.S. dollar equivalents) Debt as of Type of debt December 31, 1961 Publicly-issued bonds L! 31,103 Privately-placed debt 2,366 Loan from U.S. Government Development Loan Fund 1,898 Loans from other governmeats 13,316 48,683 II Net of accumulated sinking fund of $5,229,000. Table 2: IBRD ESTINATES OF SERVICE PAYNENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN GURRENC IES .AS OF DECENBER 31, 1961 /1 (In thousands of U.S. dollar equivalents) Service payments Year Amort i- In- Total zat.ion terest 1962 1,804 2,390 4,194 1963 2,420 2,339 4,759 1964 930 2,279 3,209 1965 616 2,202 2,818 1966 631 2,187 2,818 1967 646 2,172 2,818 1968 664 2,154 2,818 1969 681 2,137 2,818 1970 699 2,119 2,818 , 1971 719 2,099 2,818 Zl Includes all debt listed in Table 1 except a loan of £ 1,000,000 ($2,800,000) for which repayment terms are not available. TRINIDAD AND TOBliGO Table 1: IBRD ESTIMATES OF EXTERNAL PUBLIC DEBT OurSTANDThU DUE IN FOREIGN CURRENCmS AS OF DECEMBER 31, 1961 . (In thpusands of U.S. dollar equivalents) Debt as of Type of debt December 31, 1961 Publicly-issued bonds L! 19,461 IBRD loan 23,500 u.S. Government loan Export-Import Bank 9,000 5l,9bl Zl Net. of accumulated sinking funds which amounted to ~~15,869,OOO. Table 2: IBRD ESTIHATES OF SERVICE PAYl1ENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF DECENBER 31, 1961 (In thousands of U.S. dollar equivalents) Service payment~ Year Amorti- In... Total zation terest 1962 496 1,685 2,181 1963 496 2,468 2,964 1964 496 2,746 3,242 1965 1,782 2,958 4,740 1966 2,668 2,947 5,615 1967 2,680 2,719 5,399 1968 2,737 2,591 5,328 1969 2,763 2,458 5,221 1970 2,726 2,183 4,909 1971 6,853 2,041 8,894 o UG.t!.NDA Table 1: IBRn ESTIMATES OF EXTERNAL PUBLIC DE3T OUrSTANDING DUE IN FOREIGN CURRENCIES ... AS OF DECENBER 31, 1961 il (In thousands of U.S. dollar equivalents) Type of debt Debt as of December 31, 1961 Publ~c1y-issued bonds /2 32,659 IBRD loans Ll .- 8,400 Loans from other governments 22,540 63.599 /1 poes not include additional aid of approximately £ 13,000,000 from the United Kingdom for Hhich adequate information is not available. /2 Net of accumulated sinking funds of ~~6,353,000. a Guaranteed by the U. K. Government Table 2: IBfill ESTII'1ATES OF SERVICE PAYIvlENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF DECEHBER 31, 1961 (In thousands of U.S. dollar equivalents) -Service paymerrt ~ Year rmor:iji- In- Total Z2.t.~.on terest 1962 536 2,461 2,997 1963 896 3,047 3,943 1964 1,319 3,334 4,653 1965 1,325 3,246 4,571 1966 1,375 3,153 4,528 1967 1,428 3,103 4,531 1968 1,483 3,048 4,531 1969 19,108 2,541 21,649 1970 1,223 2,036 3,259 ) 1971 1,291 1,969 3,260 ----._.- UNITED KmGDOl1 Table 1: IBRD ESTIMATES OF EXTERNAL PUBLIC DEBT OurSTANDING DUE IN FOREIGN CURRENCIES AS OF DEem·mER 31, 1961 L! (In thousands of U.S. dollar equivalents) Debt as of Type of debt December 31, 1961 u.s. Government loans ~ U.S. lend-lease debt 536,686 AID 366,754 U.S. Treasury 3,400,207 Sub-total 4,303,647 Loans from other governments 1,295,142 5,598,789 Z! In addition to the debt shown here, United Kingdom guarantees part of the debt of other countries. !l Does not include $192,500,000 unutilized portion of a ~.5oo,ooo,OOO Export- Import Bank loan. m --- Table 2: IBRD ESTINATES OF SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT DUE CURRENCIES AS OF DECEMBER 31, 1961 FOREIGN (In thousands of U.S. dollar equivalents) Service payments Year Amort i- In- zation terest Total 1962 109,903 116,423 226,326 1963 112,,499 113,965 226,1~()4 1964 164,942 111,454 276,3516 .., 1965 117,784 107,390 225,174 1966 120,,478 104,763 225,241 1967 123,227 102,076 225,303 , 1968 125)970 99,330 225,,300 1969 126,5l771 96,522 22~~293 1970 131~607 93,656 2'·\r. t:;.> ,. 0i')J ., 1971 129,141 90 ,728 219,869