T H E W O R L D B A N K Global Development Finance Harnessing Cyclical Gains for Development 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 Global Development Finance Harnessing Cyclical Gains for Development II: Summary and Country Tables Global Development Finance Harnessing Cyclical Gains for Development 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 T H E W O R L D B A N K © 2004 The International Bank for Reconstruction and Development/The World Bank 1818 H Street, NW Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org E-mail feedback@worldbank.org All rights reserved 1 2 3 4 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 Bank or the governments they represent. 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ISBN 0-8213-5741-7 ISSN 1020-5454 Table of Contents Preface vii Chad 128 Chile 132 Methodology ix China 136 Colombia 140 Sources and definitions xiii Comoros 144 Congo, Democratic Republic of 148 Country groups xxiv Congo, Republic of 152 Regional groups Costa Rica 156 Income groups Côte d'Ivoire 160 Croatia 164 Summary tables xxvii Czech Republic 168 Djibouti 172 Regional and income group Dominica 176 aggregate tables 1 Dominican Republic 180 Ecuador 184 Country tables 39 Egypt, Arab Republic of 188 Albania 40 El Salvador 192 Algeria 44 Equatorial Guinea 196 Angola 48 Eritrea 200 Argentina 52 Estonia 204 Armenia 56 Ethiopia 208 Azerbaijan 60 Fiji 212 Bangladesh 64 Gabon 216 Belarus 68 Gambia, The 220 Belize 72 Georgia 224 Benin 76 Ghana 228 Bhutan 80 Grenada 232 Bolivia 84 Guatemala 236 Bosnia and Herzegovina 88 Guinea 240 Botswana 92 Guinea-Bissau 244 Brazil 96 Guyana 248 Bulgaria 100 Haiti 252 Burkina Faso 104 Honduras 256 Burundi 108 Hungary 260 Cambodia 112 India 264 Cameroon 116 Indonesia 268 Cape Verde 120 Iran, Islamic Republic of 272 Central African Republic 124 Jamaica 276 v G L O B A L D E V E L O P M E N T F I N A N C E 2 0 0 4 Jordan 280 Samoa 436 Kazakhstan 284 São Tomé and Principe 440 Kenya 288 Senegal 444 Kyrgyz Republic 292 Serbia and Montenegro 448 Lao People's Democratic Republic 296 Seychelles 452 Latvia 300 Sierra Leone 456 Lebanon 304 Slovak Republic 460 Lesotho 308 Solomon Islands 464 Liberia 312 Somalia 468 Lithuania 316 South Africa 472 Macedonia, former Yugoslav Republic of 320 Sri Lanka 476 Madagascar 324 St. Kitts and Nevis 480 Malawi 328 St. Lucia 484 Malaysia 332 St. Vincent and the Grenadines 488 Maldives 336 Sudan 492 Mali 340 Swaziland 496 Mauritania 344 Syrian Arab Republic 500 Mauritius 348 Tajikistan 504 Mexico 352 Tanzania 508 Moldova 356 Thailand 512 Mongolia 360 Togo 516 Morocco 364 Tonga 520 Mozambique 368 Trinidad and Tobago 524 Myanmar 372 Tunisia 528 Nepal 376 Turkey 532 Nicaragua 380 Turkmenistan 536 Niger 384 Uganda 540 Nigeria 388 Ukraine 544 Oman 392 Uruguay 548 Pakistan 396 Uzbekistan 552 Panama 400 Vanuatu 556 Papua New Guinea 404 Venezuela, República Bolivariana de 560 Paraguay 408 Vietnam 564 Peru 412 Yemen, Republic of 568 Philippines 416 Zambia 572 Poland 420 Zimbabwe 576 Romania 424 Russian Federation 428 Country notes 581 Rwanda 432 vi . Preface T he print edition of Global Development between debt stock and its components, the com- Finance (GDF) consists of two volumes: putation of net flows, aggregate net resource flows, Analysis and Summary Tables and Sum- and aggregate net transfers; and the relation be- mary and Country Tables. Analysis and Summary tween net resource flows and the balance of pay- Tables contains analysis and commentary on recent ments. Exact definitions of the terms used in the developments in international finance for devel- Summary and Country Tables volume of GDF are oping countries, together with summary statistical found in the Sources and Definitions section. tables for selected regional and analytical groups The economic aggregates presented in the comprising 135 debt-reporting developing countries tables are prepared for the convenience of users. and Saudi Arabia. Although debt indicators can give useful informa- Summary and Country Tables contains statis- tion about developments in debt-servicing capacity, tical tables on the external debt of the 135 coun- conclusions drawn from them will not be valid un- tries that report public and publicly guaranteed less accompanied by careful economic evaluation. debt under the Debtor Reporting System (DRS). The macroeconomic information provided is Also included are tables of selected debt and re- from standard sources, but many of them are sub- source flow statistics for individual reporting ject to considerable margins of error, and the usual countries as well as summary tables for regional care must be taken in interpreting the indicators. and income groups. This is particularly the case for the most recent Earlier this year, country tables and summary year or two, when figures are preliminary and sub- tables were also made available online (GDF ject to revision. Online). Global Development Finance 2004 on CD- For the convenience of readers, charts on pages ROM contains a database of 217 time series indi- xxi to xxiii summarize graphically the relation cators, covering the years 1970 to 2002 in most This volume was prepared by the Financial Data Team of the Development Data Group, led by Ibrahim 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 the macroeconomic data and Abdolreza Farivari provided systems support. Many others inside the World Bank provided helpful input, especially the staff of the Development Prospects Group, Kevin J. 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 Vikram Nehru, and the country economists who reviewed the data. The work was carried out under the management of Shaida Badiee. The production of this volume was managed by Richard Fix. The CD-ROM and database were prepared by William Prince. vii 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 cases, and to 2012 for "pipeline" data. It also con- can give useful information about development tains the full contents of the print version of the in debt-servicing capacity, conclusions drawn Summary and Country Tables volume. Text pro- from them will not be valid unless accompanied viding country notes, definitions, and source notes by careful economic evaluation. The macro- is linked to each table. The general cutoff date for economic information provided is from standard data is December 2002. sources, but many of the indicators are subject Definitions of terms used in the Summary and to considerable margins of error, and the usual Country Tables volume of GDF are found in the care must be taken in interpreting them. This is Sources and Definitions section. The economic ag- particularly so for the most recent year or two, gregates presented in the tables are prepared for for which figures are preliminary and subject to the convenience of users. Although debt indicators revision. viii . Methodology T he World Bank is the sole repository for significant when exchange rates have moved statistics on the external debt of developing sharply during the year; cancellations and resched- countries on a loan-by-loan basis. The ulings of other liabilities into long-term public Debtor Reporting System (DRS), set up in 1951 to debt also contribute to the differences. monitor these statistics, is maintained by the staff of the Financial Data Team (FIN), part of the Devel- Public and publicly guaranteed debt opment Data Group of Development Economics. All data related to public and publicly guaranteed debt are from debtors except for lending by some multilateral agencies, in which case data are taken from the creditors' records. These creditors Methodology for aggregating data include the African Development Bank, the Asian U sing the DRS data, in combination with infor- Development Bank, the Central Bank for Eco- mation obtained from creditors through the nomic Integration, the Inter-American Develop- debt data collection systems of other agencies such ment Bank, and the International Bank for Re- as the Bank for International Settlements (BIS) and construction and Development (IBRD) and the the Organisation for Economic Cooperation and International Development Association (IDA). Development (OECD), the staff of the Financial (The IBRD and IDA are components of the Data Team estimate the total external indebted- World Bank.) ness of developing countries. The data are also Starting with the 1988­89 edition of World supplemented by market sources and estimates Debt Tables (as this book was previously titled), made by country economists of the World Bank all data pertaining to World Bank loans from 1985 and desk officers of the International Monetary onward are recorded at their current market value. Fund (IMF). Starting with the 1991­92 edition, all data per- taining to Asian Development Bank loans from Converting to a common currency 1989 onward are recorded at their current market Since debt data are normally reported to the value. Starting with the 1998 edition, all data per- World Bank in the currency of repayment, they taining to African Development Bank and African have to be converted into a common currency Development Fund loans from 1997 onward are (usually U.S. dollars) to produce summary tables. recorded at their current market value as well. Because flow data are converted at annual average exchange rates and stock data at year-end ex- Private nonguaranteed debt change rates, year-to-year changes in debt out- The DRS was expanded in 1970 to incorporate standing and disbursed are sometimes not equal private nonguaranteed long-term debt. Reports, to net flows (disbursements less principal repay- submitted annually, contain aggregate data for ments); similarly, changes in debt outstanding in- disbursed and outstanding debt, disbursements, cluding undisbursed debt differ from commitments principal repayments, interest payments, princi- less repayments. Discrepancies are particularly pal and interest rescheduled for the reporting ix 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 year, and projected payments of principal and in- recorded in the DRS for public and publicly guar- terest. Data are usually presented in dollars, and anteed debt. currency conversion is not necessary. A few re- porting countries choose to provide data on their Short-term debt private nonguaranteed debt in the loan-by-loan The World Bank regards the individual reporting format used for reporting public and publicly- country as the authoritative source of information guaranteed debt. In those cases the currency con- on its own external liabilities. But for short-term version and projection methodology just described debt, defined as debt with an original maturity is used. of one year or less, accurate information is not Although the reporting countries fully recog- widely available from debtors. By its nature, short- nize the importance of collecting data on private term debt is difficult to monitor; loan-by-loan reg- nonguaranteed debt when it constitutes a signifi- istration is normally impractical, and most report- cant portion of total external debt, detailed data ing arrangements involve periodic returns to a are available only in countries that have registra- country's central bank from its banking sector. tion requirements covering private debt, most Since 1982 the quality of such reporting has im- commonly in connection with exchange controls. proved, but only a few developing countries have Where formal registration of foreign borrowing is figures available for short-term debt. not mandatory, compilers must rely on balance of Where information from debtors is not avail- payments data and financial surveys. able, data from creditors can indicate the magni- This edition includes data on private nonguar- tude of a country's short-term debt. The most anteed debt, either as reported or as estimated, for important source is the BIS's semiannual series 80 countries for which this type of debt is known showing the maturity distribution of commercial to be significant. banks' claims on developing countries. Those data For private nonguaranteed debt that is not are reported residually. However, an estimate of reported, the standard estimation approach starts short-term liabilities by original maturity can be from a calculation of the stock of debt outstand- calculated by deducting from claims due in one ing, using data available from creditors. Figures year those that had a maturity of between one and on guaranteed export credits, obtained from the two years 12 months earlier. OECD's Creditor Reporting System (CRS), are There are several problems with this method. supplemented by loan-by-loan information on of- Valuation adjustments caused by exchange rate ficial lending to private borrowers and by infor- movements will affect the calculations, as will pre- mation on noninsured commercial bank lending to payment and refinancing of long-term maturities the private sector. falling due. Moreover, not all countries' commer- Disbursements and debt service payments for cial banks report in a way that allows the full private nonguaranteed debt are more difficult to maturity distribution to be determined, and the estimate. Amortization is estimated by making an BIS data include liabilities only to banks within the assumption regarding the proportion of debt re- reporting area. Nevertheless, combining these esti- paid each year and then applying these ratios to mates with data on officially guaranteed short- generate a first approximation of annual principal term suppliers' credits compiled by the OECD repayments. gives what may be thought of as a lower-bound es- Disbursements are then estimated as a resid- timate of a country's short-term debt. Even on this ual between net flows (equal to the change in the basis, however, the results need to be interpreted stock of debt) and estimated amortization. Inter- with caution. Where short-term debt has been est payments are estimated by applying an as- rescheduled, the effect of lags in reporting and dif- sumed average interest rate to the stock of debt ferences in the treatment of the rescheduled debt outstanding. by debtors and creditors may result in double Data on the balance of payments flows pro- counting if short-term debt derived from creditor vide useful guidelines in the process of building a sources is added to long-term debt reported by the time series because private nonguaranteed debt country to obtain total external liabilities. can be treated as a residual between total net long- Some of the short-term debt estimates pub- term borrowing and net long-term borrowing lished are drawn from debtor and creditor sources, x M E T H O D O L O G Y but most are from creditor sources. Only for a few Changes in creditor and debtor status that countries can the data be regarded as authorita- can result from debt restructuring are also re- tive, but they offer a guide to the size of a country's flected. For example, when insured commercial short-term (and, hence, its total) external debt. credits are rescheduled, the creditor classification The quality of these data is likely to improve. shifts from private sources to official sources (bi- lateral). This reflects the assumption of the assets Use of IMF credit by the official credit insurance agencies of the Data related to the operations of the IMF come creditor countries. The debts to the original credi- from the IMF Treasurer's Department and are con- tors are reduced by the amounts rescheduled, and verted from special drawing rights (SDRs) into dol- a new obligation to the official creditor agencies lars using end-of-period exchange rates for stocks is created. This shift also applies to private non- and average over the period exchange rates for guaranteed debt that is reduced by the amounts converting flows, as described earlier. IMF trust rescheduled, which in turn are included in the fund loans and operations under the structural ad- public and publicly guaranteed debt owed to offi- justment and enhanced structural adjustment facil- cial creditors. On the debtor side, when a govern- ities are presented together with all of the Fund's ment accepts responsibility for the payment of special facilities (the buffer stock, compensatory rescheduled debt previously owed by private en- financing, extended fund, and oil facilities). terprises, the DRS registers a change in debtor categories in the DRS. Similarly, when short-term Treatment of arrears debt is included in a restructuring agreement, the The DRS collects information on arrears in both rescheduled amount is shifted from short-term to principal and interest. Principal in arrears is in- long-term debt. cluded and identified in the amount of long-term debt outstanding. Interest in arrears of long-term debt and the use of IMF credit is included and identified in the amount of short-term debt out- Methodology for projecting data A standing. If and when interest in arrears is capital- n important feature of the WBXD system of ized under a debt reorganization agreement, the the DRS is its ability to project future dis- amount of interest capitalized will be added to the bursements of unutilized commitments and future amount of long-term debt outstanding and the cor- debt service payments. responding deduction made from the amount of short-term debt outstanding. Undisbursed debt Projections of disbursements help underpin future Treatment of debt restructurings capital requirements in the implementation of The DRS attempts to capture accurately the effects externally financed projects. In addition, they help of the different kinds of restructurings on both determine the interest portion of projected debt debt stocks and debt flows, consistent with the cir- service. Future interest payments are based on pro- cumstances under which the restructuring takes jected debt outstanding that is itself determined by place. Whether a flow has taken place is some- projected disbursements and repayments. The un- times difficult to determine. derlying assumptions of these projections are that In compiling and presenting the debt data, a loan commitments will be fully utilized and that distinction is made between cash flows and im- the debtor country will repay all sums due. Future puted flows. Based on this criterion, rescheduled disbursements and debt service refer only to exist- service payments and the shift in liabilities from ing debt and do not reflect any assumptions on one financial instrument to another as a result of future borrowing. rescheduling are considered to be imputed flows. Disbursement projections use two methods: The imputed flows are recorded separately in · Specific schedules. Debtor countries are re- the World Bank External Debt (WBXD) system, quested to submit a calendar of future disburse- but these debt restructuring transactions are not ments, if available, at the time individual loans evident in the main body of the debt data--only the are first reported. Country authorities are in a bet- resulting effect of these transactions is reflected. ter position to provide estimated disbursement xi 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 schedules when there is a solid public sector in- Future debt service payments vestment program in place. Most projections of future debt service payments · Standard schedules. In the absence of specific generated by the WBXD system are based on the schedules, the WBXD system projects disburse- repayment terms of the loans. Principal repay- ments by applying a set of profiles to the last ac- ments (amortization) are based on the amount of tual undisbursed balance of individual loans. The loan commitments, and the amortization profile profiles are derived under the assumption that spe- of most loans follows a set pattern. Using the first cific sources of funds have some common charac- and final payment dates and the frequency of the teristics that cause them to disburse, in the aggre- payments, the system calculates the stream of prin- gate, in some observable pattern. Accordingly, cipal payments due. If future payments are irregu- some thirty profiles have been derived that lar, the WBXD system requires a schedule. roughly correspond to creditor type. Profiles exist Projected future interest payments are calcu- for concessional and nonconcessional loans from lated similarly. Interest is based on the amount of official creditors. For bilateral lending, profiles debt disbursed and outstanding at the beginning of have been developed for the Development Assis- the period. Again, using the first and final interest tance Committee, the Organization of Petroleum payment dates and the frequency of payments, the Exporting Countries (OPEC), and other creditor system calculates the stream of interest payments groupings. For multilateral lending, specific pro- due. If interest payments are irregular, the WBXD files are available for major international organi- system requires a schedule. zations. An estimating equation for each profile is The published figures for projected debt ser- derived by applying regression analysis techniques vice obligations are converted into U.S. dollars to a body of data that contains actual disburse- using the end-December 2002 exchange rates. ment information for more than 100,000 loans. Likewise the projection routine for variable inter- Although these standard profiles are reestimated est rate debt, such as commercial bank debt based from time to time, under the best scenario they can on the London interbank offer rate (LIBOR), only approximate the disbursement pattern of any assumes that the rate prevailing at the end of single loan. December 2002 will be effective throughout. xii . Sources and definitions T his edition of GDF Online presents reported in arrears on long-term debt are shown as memo- or estimated data on the total external debt randum items. of all low- and middle-income countries. Total debt flows are consolidated data on dis- bursements, principal repayments, and interest payments for total long-term debt and transac- tions with the IMF. Format Net flows on debt are disbursements on long- T he country and summary data has been ex- term debt and IMF purchases minus principal re- panded to include summary tables along with payments on long-term debt and IMF repurchases the standard country tables for the 135 individual up to 1984. Beginning in 1985 this line includes countries that report to the World Bank's Debtor the change in stock of short-term debt (including Reporting System (DRS). Summary tables present interest arrears for long-term debt). Thus if the selected debt and resource flow statistics for the change in stock is positive, a disbursement is as- individual reporting countries and external debt sumed to have taken place; if negative, a repay- data for regional and income groups. Regional and ment is assumed to have taken place. income group totals in the summary tables include Total debt service (TDS) shows the debt ser- estimates for Saudi Arabia that does not report to vice payments on total long-term debt (public and the DRS. The format of the regional and income publicly guaranteed and private nonguaranteed), group tables draws on the individual country table use of IMF credit, and interest on short-term debt. format and includes graphic presentations. SECTION 2 provides data series for aggregate For the 135 individual countries that report net resource flows and net transfers (long-term). to the World Bank's DRS, tables are presented in a Net resource flows (long-term) are the sum of four-page layout containing 10 sections. net resource flows on long-term debt (excluding SECTION 1 summarizes the external debt of the IMF credit) plus net foreign direct investment, country. portfolio equity flows, and official grants (exclud- Total external debt stocks (EDT) consist of ing technical cooperation). Grants for technical public and publicly guaranteed long-term debt, cooperation are shown as a memorandum item. private nonguaranteed long-term debt (whether Also shown as memorandum items are official net reported or estimated by the staff of the World resource flows and private net resource flows. Of- Bank), the use of IMF credit, and estimated ficial net resource flows are the sum of net flows short-term debt. Interest in arrears on long-term on long-term debt to official creditors (excluding debt and the use of IMF credit are added to the the IMF) plus official grants (excluding technical short-term debt estimates and are shown as sepa- cooperation). Private net resource flows are the rate lines. Arrears of principal and of interest sum of net flows on debt to private creditors plus have been disaggregated to show the arrears net foreign direct investment and portfolio equity owed to official creditors and the arrears owed flows. Official net transfers and private net trans- to private creditors. Export credits and principal fers are shown as memorandum items as well. xiii 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 Net transfers (long-term) are equal to net the residual is large it can, in some cases, serve long-term resource flows minus interest payments as an illustration of the inconsistencies in the on long-term loans and foreign direct investment reported data. profits. More often, however, it can be explained by SECTION 3 provides data series for major eco- specific borrowing phenomena in individual coun- nomic aggregates. tries. These are explained in the Country Notes The gross national income (GNI) series uses section. yearly average exchange rates in converting GNI SECTION 9 provides information on the average- from local currency into U.S. dollars. The economic terms of new commitments on public and publicly aggregates are prepared for the convenience of users; guaranteed debt and information on the level of the usual caution should be exercised in using them commitments from official and private sources. for economic analysis. SECTION 10 provides anticipated disburse- SECTION 4 provides debt indicators: ratios of ments and contractual obligations on long-term debt and debt service to some of the economic debt contracted up to December 2002. aggregates. SECTION 5 provides detailed information on stocks and flows of long-term debt and its various components. Data on bonds issued by private enti- Sources T ties without public guarantee, compiled for major he principal sources of information for the borrowers, are included in private nonguaranteed tables in these two volumes are reports to the debt. IBRD loans and IDA credits are shown as World Bank through the DRS from member coun- memorandum items. tries that have received either IBRD loans or IDA SECTION 6 provides information on the cur- credits. Additional information has been drawn rency composition of long-term debt. The major from the files of the World Bank and the IMF. currencies in which the external debt of low- and Reporting countries submit detailed (loan-by- middle-income countries is contracted are sepa- loan) reports through the DRS on the annual status, rately identified, as is debt denominated in special transactions, and terms of the long-term external drawing rights and debt repayable in multiple debt of public agencies and that of private ones currencies. guaranteed by a public agency in the debtor coun- SECTION 7 provides information on restructur- try. This information forms the basis for the tables ings of long-term debt starting in 1985. It shows in these volumes. both the stock and flows rescheduled each year. Aggregate data on private debt without public In addition, the amount of debt forgiven (interest guarantee are compiled and published as reliable forgiven is shown as a memorandum item) and reported and estimated information becomes the amount of debt stock reduction (including available. This edition includes data on private debt buyback) are also shown separately. (See the nonguaranteed debt, either as reported or as esti- Methodology section for a detailed explanation of mated, for 80 countries. restructuring data.) The short-term debt data are as reported by SECTION 8 reconciles the stock and flow data the debtor countries or are estimates derived from on total external debt for each year, beginning creditor sources. The principal creditor sources are with 1989. This section is designed to illustrate the the semiannual series of commercial banks' claims changes in stock that have taken place due to five on developing countries, published by the Bank factors: the net flow on debt, the net change in for International Settlements (BIS), and data on interest arrears, the capitalization of interest, the officially guaranteed suppliers' credits compiled by reduction in debt resulting from debt forgiveness the Organisation for Economic Co-operation and or other debt reduction mechanisms, and the Development (OECD). For some countries, esti- crosscurrency valuation effects. The residual mates were prepared by pooling creditor and difference--the change in stock not explained by debtor information. any of the factors identified above--is also pre- Interest in arrears on long-term debt and the sented. The residual is calculated as the sum of iden- use of IMF credit are added to the short-term debt tified accounts minus the change in stock. Where estimates and shown as separate lines in section 1. xiv S O U R C E S A N D D E F I N I T I O N S Arrears of interest and of principal owed to official and repayable in foreign currency, goods, or and to private creditors are identified separately. services. Export credits are shown as a memorandum Long-term debt has three components: item in section 1. Data prior to 1998 include offi- · Public debt, which is an external obligation of cial export credits, and suppliers' credits and bank a public debtor, including the national govern- credits officially guaranteed or insured by an ex- ment, a political subdivision (or an agency of either), port credit agency. Both long-term and short-term and autonomous public bodies. exports credits are included. For 1998 to 2002 ex- · Publicly guaranteed debt, which is an external port credits include all export credits extended, obligation of a private debtor that is guaranteed guaranteed, insured, or rescheduled by the official for repayment by a public entity. sector of OECD countries. The source for this in- · Private nonguaranteed external debt, which is formation is the Creditor Reporting System (CRS) an external obligation of a private debtor that is of the OECD. not guaranteed for repayment by a public entity. Data on long-term debt reported by member In the tables, public and publicly guaranteed countries are checked against, and supplemented long-term debt are aggregated. by, data from several other sources. Among these Short-term external debt is defined as debt are the statements and reports of several regional that has an original maturity of one year or less. development banks and government lending agen- Available data permit no distinction between pub- cies, as well as the reports received by the World lic and private nonguaranteed short-term debt. Bank under the CRS from the members of the Interest in arrears on long-term debt is de- Development Assistance Committee (DAC) of the fined as interest payment due but not paid, on a OECD. cumulative basis. Every effort has been made to ensure the accu- Principal in arrears on long-term debt is de- racy and completeness of the debt statistics. Nev- fined as principal repayment due but not paid, on ertheless, quality and coverage vary among a cumulative basis. debtors and may also vary for the same debtor The memorandum item export credits in- from year to year. Coverage has been improved cludes official export credits, suppliers' credits, the through the efforts of the reporting agencies and official non-ODA lending, and bank credits offi- the work of World Bank missions, which visit cially guaranteed or insured by an export credit member countries to gather data and to provide agency. Both long-term and short-term credits are technical assistance on debt issues. included here. Use of IMF credit denotes repurchase obliga- tions to the IMF with respect to all uses of IMF resources (excluding those resulting from draw- Definitions ings in the reserve tranche) shown for the end of F or all regional, income, and individual country the year specified. Use of IMF credit comprises tables, data definitions are presented below or purchases outstanding under the credit tranches, footnoted where appropriate. Data definitions for including enlarged access resources and all special other summary tables are, likewise, consistent facilities (the buffer stock, compensatory financ- with those below. ing, extended fund, and oil facilities), trust fund loans, and operations under the structural adjust- Summary debt data ment and enhanced structural adjustment facili- TOTAL DEBT STOCKS are defined as the sum of pub- ties. Data are from the Treasurer's Department of lic and publicly guaranteed long-term debt, private the IMF. nonguaranteed long-term debt, the use of IMF · IMF purchases are total drawings on the gen- credit, and short-term debt. The relation between eral resources account of the IMF during the year total debt stock and its components is illustrated specified, excluding drawings in the reserve tranche. on page xxi. · IMF repurchases are total repayments of out- Long-term external debt is defined as debt standing drawings from the general resources that has an original or extended maturity of more account during the year specified, excluding repay- than one year and that is owed to nonresidents ments due in the reserve tranche. xv 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 To maintain comparability between data on official grants (excluding technical cooperation). transactions with the IMF and data on long-term Net foreign direct investment and portfolio equity debt, use of IMF credit outstanding at year end flows are treated as private source flows. Grants (stock) is converted to dollars at the SDR ex- for technical cooperation are shown as a memo- change rate in effect at the end of the year. Pur- randum item. chases and repurchases (flows) are converted at Foreign direct investment (FDI) is defined as the average SDR exchange rate for the year in investment that is made to acquire a lasting man- which transactions take place. agement interest (usually 10 percent of voting Net purchases will usually not reconcile stock) in an enterprise operating in a country other changes in the use of IMF credit from year to year. than that of the investor (defined according to res- Valuation effects from the use of different ex- idency), the investor's purpose being an effective change rates frequently explain much of the differ- voice in the management of the enterprise. It is the ence, but not all. sum of equity capital, reinvestment of earnings, Other factors are increases in quotas (which other long-term capital, and short-term capital as expand a country's reserve tranche and can shown in the balance of payments. thereby lower the use of IMF credit as defined Portfolio equity flows are the sum of country here), approved purchases of a country's currency funds, depository receipts (American or global), by another member country drawing on the gen- and direct purchases of shares by foreign investors. eral resources account, and various administrative Grants are defined as legally binding commit- uses of a country's currency by the IMF. ments that obligate a specific value of funds avail- TOTAL DEBT FLOWS include disbursements, able for disbursement for which there is no repay- principal repayments, net flows and transfers on ment requirement. debt, and interest payments. The memorandum item technical cooperation Disbursements are drawings on loan commit- grants includes free-standing technical coopera- ments during the year specified. tion grants, which are intended to finance the Principal repayments are the amounts of prin- transfer of technical and managerial skills or of cipal (amortization) paid in foreign currency, goods, technology for the purpose of building up general or services in the year specified. national capacity without reference to any specific Net flows on debts (or net lending or net dis- investment projects; and investment-related tech- bursements) are disbursements minus principal nical cooperation grants, which are provided to repayments. strengthen the capacity to execute specific invest- Interest payments are the amounts of interest ment projects. paid in foreign currency, goods, or services in the Profit remittances on foreign direct invest- year specified. ment covers payments of direct investment income Net transfers on debt are net flows minus (debit side), which consist of income on equity interest payments (or disbursements minus total (dividends, branch profits, and reinvested earn- debt service payments). ings) and income on debt (interest). The concepts of net flows on debt, net trans- fers on debt, and aggregate net flows and net Major economic aggregates transfers are illustrated on pages xxii and xxiii. Five economic aggregates are provided for the Total debt service paid (TDS) is debt service reporting economies. Gross national income, or payments on total long-term debt (public and pub- GNI (Gross national product, or GNP, in previous licly guaranteed and private nonguaranteed), use editions) is the sum of value added by all resident of IMF credit, and interest on short-term debt. producers plus any product taxes (less subsidies) not included in the valuation of output plus net Aggregate net resource flows and transfers receipts of primary income (compensation of em- NET RESOURCE FLOWS (LONG-TERM) are the sum of ployees and property income) from abroad. The net resource flows on long-term debt (excluding national accounts data for most developing coun- IMF) plus non­debt-creating flows. tries are collected from national statistical organi- NON­DEBT-CREATING FLOWS are net foreign zations and central banks by visiting and resident direct-investment, portfolio equity flows, and World Bank missions. Data on GNI are from the xvi S O U R C E S A N D D E F I N I T I O N S Macroeconomic Data Team of the Development and so do not contribute to the current account Economics Development Data Group of the World balance. Bank. Exports of goods, services and income (XGS) Debt indicators comprise the total value of goods and services ex- The macroeconomic aggregates and debt data ported, and receipts of compensation of employ- provided in the tables are used to generate ratios ees, and investment income. Workers' remittances, that analysts use to assess the external situations a transfer and not an income entry is the balance of of developing countries. Different analysts give payments, are treated as compensation of employ- different weights to these indicators, but no single ees in Global Development Finance because they indicator or set of indicators can substitute for a are often difficult to distinguish from compensa- thorough analysis of the overall situation of an tion of nonresident workers and migrants. economy. The advantage of the indicators in Workers' remittances and compensation of Global Development Finance is that they are cal- employees comprise current transfers by migrant culated from standardized data series that are workers, wages and salaries earned by nonresident compiled on a consistent basis by the World Bank workers. In addition, migrants' transfers, a part of and the IMF. The ratios offer various measures capital transfers, are treated as workers' remit- of the cost of, or capacity for, servicing debt in tances in Global Development Finance. See GDF terms of the foreign exchange or output forgone. volume 1 for more details. The following ratios are provided based on total Imports of goods and services (MGS) are the external debt: total value of goods and services imported and in- EDT/XGS is total external debt to exports of come paid. goods and services (including workers' remittances). International reserves (RES) are the sum of a EDT/GNI is total external debt to gross country's monetary authority's holdings of special national income. drawing rights (SDRs), its reserve position in the TDS/XGS, also called the debt service ratio, is IMF, its holdings of foreign exchange, and its hold- total debt service to exports of goods and services ings of gold (valued at year-end London prices). (including workers' remittances). Current account balance is the sum of the INT/XGS, also called the interest service credits less the debits arising from international ratio, is total interest payments to exports of goods transactions in goods, services, income, and cur- and services (including workers' remittances). rent transfers. It represents the transactions that INT/GNI is total interest payments to gross add to or subtract from an economy's stock of for- national income. eign financial items. RES/EDT is international reserves to total Data on exports and imports (on a balance of external debt. payments basis), international reserves, and current RES/MGS is international reserves to imports account balances are drawn mainly from the files of of goods and services. the IMF, supplemented by World Bank staff esti- Short-term/EDT is short-term debt to total mates. Balance of payments data are presented ac- external debt. cording to the fifth edition of the IMF's Balance of Concessional/EDT is concessional debt to Payments Manual, which made several adjustments total external debt. to its presentation of trade statistics. Coverage of Multilateral/EDT is multilateral debt to total goods was expanded to include in imports the value external debt. of goods received for processing and repair (on a gross basis). Their subsequent re-export is recorded Long-term debt in exports (also on a gross basis). This approach Data on long-term debt include eight main elements: will cause a country's imports and exports to in- DEBT OUTSTANDING AND DISBURSED is the total crease without affecting the balance of goods. In outstanding debt at year end. addition, all capital transfers, which were included DISBURSEMENTS are drawings on loan commit- with current transfers in the fourth edition of the ments by the borrower during the year. Balance of Payments Manual, are now shown in a PRINCIPAL REPAYMENTS are amounts paid by the separate capital (as opposed to financial) account, borrower during the year. xvii 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 NET FLOWS received by the borrower during the institution's classification and not according to year are disbursements minus principal repayments. the DAC definition, as was the practice in earlier INTEREST PAYMENTS are amounts paid by the reports. borrower during the year. Variable interest rate LDOD is long-term NET TRANSFERS are net flows minus interest debt with interest rates that float with move- payments during the year; negative transfers show ments in a key market rate such as the London net transfers made by the borrower to the creditor interbank offer rate (LIBOR) or the U.S. prime during the year. rate. This item conveys information about the DEBT SERVICE (LTDS) is the sum of principal borrower's exposure to changes in international repayments and interest payments actually made. interest rates. UNDISBURSED DEBT is total debt undrawn at Public sector LDOD and private sector year end; data for private nonguaranteed debt are LDOD convey information about the distribution not available. of long-term debt for DRS countries by type of Data from individual reporters are aggregated debtor (central government, state and local gov- by type of creditor. Official creditors includes mul- ernment, central bank; private bank, private debt). tilateral and bilateral debt. · Loans from multilateral organizations are Currency composition of long-term debt loans and credits from the World Bank, regional The major currencies in which the external debt development banks, and other multilateral and of low- and middle-income countries is contracted intergovernmental agencies. Excluded are loans are separately identified, as is debt denominated in from funds administered by an international orga- special drawing rights and debt repayable in multi- nization on behalf of a single donor government; ple currencies. Beginning in 2001, debt denomi- these are classified as loans from governments. nated in the currencies of the twelve members in · Bilateral loans are loans from governments the European Monetary Union is included under and their agencies (including central banks), loans the euro. from autonomous bodies, and direct loans from official export credit agencies. Debt restructurings Private creditors include bonds, commercial Debt restructurings include restructurings in the banks, and other private creditors. Commercial context of the Paris Club, commercial banks, debt- banks and other private creditors comprise bank equity swaps, buybacks, and bond exchanges. and trade-related lending. Debt restructuring data capture the non-cash or · Bonds include publicly issued or privately inferred flows associated with rescheduling and placed bonds. restructuring. These are presented to complement · Commercial banks are loans from private the cash-basis transactions recorded in the main banks and other private financial institutions. body of the data. · Other private includes credits from manufac- Debt stock rescheduled is the amount of debt turers, exporters, and other suppliers of goods, outstanding rescheduled in any given year. Princi- and bank credits covered by a guarantee of an ex- pal rescheduled is the amount of principal due or port credit agency. in arrears that was rescheduled in any given year. Four characteristics of a country's debt are Interest rescheduled is the amount of interest given as memorandum items for long-term debt due or in arrears that was rescheduled in any given outstanding and disbursed (LDOD). year. Concessional LDOD conveys information Debt forgiven is the amount of principal due about the borrower's receipt of aid from official or in arrears that was written off or forgiven in lenders at concessional terms as defined by the any given year. DAC, that is, loans with an original grant element Interest forgiven is the amount of interest due of 25 percent or more. Loans from major regional or in arrears that was written off or forgiven in any development banks--African Development Bank, given year. Asian Development Bank, and the Inter-American Debt stock reduction is the amount that has Development Bank--and from the World Bank been netted out of the stock of debt using debt are classified as concessional according to each conversion schemes such as buybacks and equity xviii S O U R C E S A N D D E F I N I T I O N S swaps or the discounted value of long-term bonds Projected disbursements are estimates of that were issued in exchange for outstanding debt. drawings of unutilized balances. The projections do not take into account future borrowing by the Debt stock-flow reconciliation debtor country. (See the Methodology section for a Stock and flow data on total external debt are rec- detailed explanation of how undisbursed balances onciled for each year, beginning with 1989. The are projected.) data show the changes in stock that have taken place due to the net flow on debt, the net change in Exchange rates interest arrears, the capitalization of interest, the Data received by the World Bank from its mem- reduction in debt resulting from debt forgiveness bers are expressed in the currencies in which the or other debt reduction mechanisms, and the cross- debts are repayable or in which the transactions currency valuation effects. The residual difference-- took place. For aggregation, the Bank converts the change in stock not explained by any of these these amounts to U.S. dollars using the IMF par factors--is also presented, calculated as the sum of values or central rates, or the current market rates identified accounts minus the change in stock. where appropriate. Service payments, commit- ments, and disbursements (flows) are converted to Average terms of new commitments U.S. dollars at the average rate for the year. Debt The average terms of borrowing on public and outstanding and disbursed at the end of a given publicly guaranteed debt are given for all new year (a stock) is converted at the rate in effect at loans contracted during the year and separately the end of that year. Projected debt service, how- for loans from official and private creditors. To ever, is converted to U.S. dollars at rates in effect obtain averages, the interest rates, maturities, and at end-December 2002. Debt repayable in multiple grace periods in each category have been weighted currencies, goods, or services and debt with a pro- by the amounts of the loans. vision for maintenance of value of the currency of The grant equivalent of a loan is its commit- repayment are shown at book value. ment (present) value, less the discounted present value of its contractual debt service; convention- Adjustments ally, future service payments are discounted at Year-to-year changes in debt outstanding and dis- 10 percent. The grant element of a loan is the bursed are sometimes not equal to net flows; simi- grant equivalent expressed as a percentage of the larly, changes in debt outstanding, including amount committed. It is used as a measure of the undisbursed, differ from commitments less repay- overall cost of borrowing. Loans with an original ments. The reasons for these differences are can- grant element of 25 percent or more are defined as cellations, adjustments caused by the use of differ- concessional. The average grant element has been ent exchange rates, and the rescheduling of other weighted by the amounts of the loans. liabilities into long-term public debt. Commitments cover the total amount of loans for which contracts were signed in the year speci- Symbols fied; data for private nonguaranteed debt are not The following symbols have been used throughout: available. · 0.0 indicates that a datum exists, but is negli- gible, or is a true zero. Projections on existing pipeline · .. indicates that a datum is not available. Projected debt service payments are estimates of · Dollars are current U.S. dollars unless other- payments due on existing debt outstanding, in- wise specified. cluding undisbursed. They do not include service payments that may become due as a result of new loans contracted in subsequent years. Nor do they allow for effects on service payments of changes in repayment patterns owing to prepayment of loans Note to users L or to rescheduling or refinancing, including repay- ong-term public and publicly guaranteed debt ment of outstanding arrears, that occurred after data are as reported for 86 countries; for 25 the last year of reported data. other countries the data are preliminary (that is, xix 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 substantially based on reported data) or estimated DAC Development Assistance Committee (of by World Bank staff. The status of each country is the OECD) given in the Country Groups section. DDSR Debt and debt service reduction This edition includes data on private nonguar- DRS Debtor Reporting System (of the World anteed debt, either as reported or as estimated, for Bank) 80 countries. EDT Total external debt, including short-term Data for exports, imports, and international and use of IMF credit reserves are standard series drawn from the Inter- FDI Foreign direct investment national Monetary Fund (IMF) and maintained in GNI Gross national income the data files of the World Bank. Data for gross IBRD International Bank for Reconstruction national income denominated in U.S. dollars are and Development/World Bank drawn directly from the files of the Macroeco- IDA International Development Association nomic Data Team of the Development Data Group (of the World Bank) of the World Bank. Data for direct foreign invest- IMF International Monetary Fund ment are drawn from the IMF, and data for grants INT Total interest payments on long-term and are drawn from the OECD and supplemented by short-term debt, including IMF charges World Bank staff estimates. The charts on pages LDOD Total long-term debt outstanding and [[xxi to xxiii]] are intended to help the reader in- disbursed terpret the debt stocks and flows reported in the LIBOR London interbank offer rate tables. MGS Imports of goods and services Beginning with 1991 all ruble debt owed to MYRA Multiyear rescheduling agreement the former Soviet Union is converted at a rate of NPV Net present value of debt $1 0.6 ruble, except in cases where a bilateral ODA Official development assistance agreement specifying a different conversion rate is OECD Organisation for Economic Co-operation in place. This valuation method does not consti- and Development tute an endorsement by World Bank staff of the OPEC Organization of Petroleum Exporting appropriateness or validity of this method or the Countries exchange rate used. The appropriate valuation is RES International reserves a matter to be resolved bilaterally between the SDR Special drawing right (of the IMF) Russian Federation and its debtor countries. TDS Total debt service on long-term debt and The following abbreviations are used in the short-term (interest only), including IMF principal ratios and indicator tables: Credits BIS Bank for International Settlements WBXD World Bank External Debt System CRS Creditor Reporting System (of the OECD) XGS Exports of goods and services xx S O U R C E S A N D D E F I N I T I O N S Debt stock and its components Total external debt (EDT) Short-term Long-term debt Use of IMF debt (LDOD) credits by debtor Private Public and publicly nonguaranteed debt guaranteed debt by creditor Official Private creditors creditors Commercial Multilateral Bilateral Bonds Other banks xxi 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 Aggregate net resource flows and net transfers (long-term) to developing countries Loan disbursements minus Principal repayments equals Foreign direct Debt service Net resource investment (FDI), Aggregate net plus equals (LTDS) flows on debt portfolio equity flows, resource flows and official grants minus minus Loan interest Interest payments and FDI profits equals equals Net transfers Aggregate net on debt transfers xxii S O U R C E S A N D D E F I N I T I O N S 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 transfers Including 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) xxiii Country groups Regional groups East Asia and Pacific Tajikistan (A) Jordan (A) Lesotho (A) Turkey (A) Lebanon (A) Liberia (E) Cambodia (P) Turkmenistan (..) Morocco (P) Madagascar (P) China (E) Ukraine (A) Oman (A) Malawi (E) Fiji (A) Uzbekistan (A) Syrian Arab Republic (E) Mali (A) Indonesia (P) Tunisia (A) Mauritania (A) Lao PDR (P) Latin America and the Caribbean Yemen, Republic of (A) Mauritius (A) Malaysia (E) Saudi Arabia Mozambique (E) Mongolia (A) Argentina (P) Niger (P) Myanmar (E) Belize (A) South Asia Nigeria (E) Papua New Guinea (A) Bolivia (A) Rwanda (E) Philippines (A) Brazil (P) Bangladesh (A) São Tomé and Principe (P) Samoa (A) Chile (A) Bhutan (A) Senegal (P) Solomon Islands (A) Colombia (A) India (A) Seychelles (A) Thailand (P) Costa Rica (A) Maldives (A) Sierra Leone (A) Tonga (A) Dominica (A) Nepal (A) Somalia (E) Vanuatu (E) Dominican Republic (A) Pakistan (P) South Africa (P) Vietnam (P) Ecuador (E) Sri Lanka (A) Sudan (E) El Salvador (A) Swaziland (A) Europe and Central Asia Grenada (A) Sub-Saharan Africa Tanzania (E) Guatemala (A) Togo (P) Albania (A) Guyana (A) Angola (E) Uganda (A) Armenia (A) Haiti (P) Benin (A) Zambia (P) Azerbaijan (A) Honduras (A) Botswana (A) Zimbabwe (P) Belarus (A) Jamaica (A) Burkina Faso (A) Bosnia and Herzegovinaa (A) Mexico (A) Burundi (P) Bulgaria (A) Nicaragua (A) Cameroon (A) Croatia (A) Panama (A) Cape Verde (A) Czech Republic (P) Paraguay (A) Central African Republic (E) Estonia (A) Peru (A) Chad (P) Georgia (A) St. Kitts and Nevis (A) Comoros (P) Hungary (A) St. Lucia (A) Congo, Dem. Rep. of (P) Kazakhstan (A) St. Vincent and the Grenadines (A) Congo, Rep. of (E) Kyrgyz Republic (A) Trinidad and Tobago (A) Côte d'Ivoire (E) Latvia (A) Uruguay (A) Equatorial Guinea (E) Lithuania (A) Venezuela, R.B. de (A) Eritrea (A) Macedonia, FYR (A) Ethiopia (P) Moldova (A) Middle East and North Africa Gabon (P) Poland (A) Gambia, The (A) Romania (A) Algeria (A) Ghana (A) Russian Federation (E) Djibouti (A) Guinea (E) Slovak Republic (A) Egypt, Arab Rep. of (A) Guinea-Bissau (E) Serbia and Montenegroa (P) Iran, Islamic Rep. of (A) Kenya (A) 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. xxiv C O U N T R Y G R O U P S Income groups Low-income countries Niger Middle-income countries Maldives Nigeria Mauritius Angola Pakistan Albania Mexico Azerbaijan Papua New Guinea Algeria Morocco Bangladesh Rwanda Argentina Oman Benin São Tomé and Principe Armenia Panama Bhutan Senegal Belarus Paraguay Burkina Faso Sierra Leone Belize Peru Burundi Solomon Islands Bolivia Philippines Cambodia Somalia Botswana Poland Cameroon Sudan Bosnia and Herzegovina Romania Central African Republic Tajikistan Brazil Russian Federation Chad Tanzania Bulgaria Samoa Comoros Togo Cape Verde Serbia and Montenegro Congo, Dem. Rep. of Uganda Chile Seychelles Congo, Rep. of Uzbekistan China Slovak Republic Côte d'Ivoire Vietnam Colombia South Africa Equatorial Guinea Yemen, Republic of Costa Rica Sri Lanka Eritrea Zambia Croatia St. Kitts and Nevis Ethiopia Zimbabwe Czech Republic St. Lucia Gambia, The Djibouti St. Vincent and the Grenadines Georgia Dominica Swaziland Ghana Dominican Republic Syrian Arab Republic Guinea Ecuador Thailand Guinea-Bissau Egypt, Arab Rep. of Tonga Haiti El Salvador Trinidad and Tobago India Estonia Tunisia Indonesia Fiji Turkey Kenya Gabon Turkmenistan Kyrgyz Republic Grenada Ukraine Lao PDR Guatemala Uruguay Lesotho Guyana Vanuatu Liberia Honduras Venezuela, R.B. de Madagascar Hungary Saudi Arabia Malawi Iran, Islamic Rep. of Mali Jamaica Mauritania Jordan Moldova Kazakhstan Mongolia Latvia Mozambique Lebanon Myanmar Lithuania Nepal Macedonia, FYR Nicaragua Malaysia 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 $9,075. xxv . Summary tables xxviii Table 1: KEY INDEBTEDNESS INDICATORS 2000­2002 (US$ millions) Ratio of total external Ratio of present value Ratio of total Ratio of present Total 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 xxix Table 1: KEY INDEBTEDNESS INDICATORS 2000­2002 (US$ millions) Ratio of total external Ratio of present value Ratio of total Ratio of present Total 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 % 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 Table 1: KEY INDEBTEDNESS INDICATORS 2000­2002 (US$ millions) Ratio of total external Ratio of present value Ratio of total Ratio of present Total 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 % 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 indebted low-income countries (LILICs), and G LOBAL DEVELOPMENT FINANCE less indebted middle-income countries (LIMICs; classifies indebtedness based on two ratios: table 2). the ratio of the present value of total debt service to The use of critical values to define the bound- gross national income (GNI) and the ratio of the aries between indebtedness categories implies that present value of total debt service to exports. These changes in country classifications should be inter- ratios cast a country's indebtedness in terms of two preted with caution. If a country has an indicator important aspects of its potential capacity to ser- that is close to the critical value, a small change in vice the debt: exports (because they provide foreign the indicator may trigger a change in indebtedness exchange to service debt) and GNI (because it is classification even if economic fundamentals have the broadest measure of income generation in an not changed significantly. economy). For the 135 countries that report to the Moreover, these indicators do not represent an World Bank's Debtor Reporting System (DRS) the exhaustive set of useful indicators of external debt. debt data are drawn from this source. GNI and ex- They may not, for example, adequately capture the port data are from World Bank files, as shown in debt servicing capacity of countries in which gov- the Country Tables volume of Global Development ernment budget constraints are key to debt service Finance. Export figures are earnings from goods difficulties. Countries that allow the use or free and services, including worker remittances. Data conversion of a foreign currency can face govern- on official grants are not included, although they ment budget difficulties that are related to servicing may be a stable source of foreign exchange in some external public debt, but that are not necessarily countries. reflected in balance of payments data. In other The two indebtedness ratios in Global Devel- countries, the servicing of domestic public debt opment Finance 2004 are calculated as follows: may be a source of fiscal strain that is not reflected · The ratio of the present value of total debt in balance of payments data. Moreover, rising service in 2002 to average GNI in 2000, 2001, and external debt may not necessarily imply payment 2002. difficulties, especially if there is a commensurate · The ratio of the present value of total debt increase in the country's debt servicing capacity. service in 2002 to average exports (including Thus, these indicators should be used in the worker remittances) in 2000, 2001, and 2002. broader context of a country-specific analysis of If either ratio exceeds a critical value--80 per- debt sustainability. cent for the debt service to GNI ratio and 220 per- In the context of the Heavily Indebted Poor cent for the debt service to exports ratio--the Countries (HIPC) Initiative, countries are classi- country is classified as severely indebted. If the fied based on the ratio of the present value of pub- critical value is not exceeded but either ratio is lic and publicly guaranteed debt to exports of three-fifths or more of the critical value (that is, goods and services, excluding worker remittances. 48 percent for the present value of debt service to For those countries for which a joint debt sustain- GNI and 132 percent for the present value of ability analysis has been undertaken, the indicators debt service to exports), the country is classified are calculated on this basis and shown in italics as moderately indebted. If both ratios are less in table 1. than three-fifths of the critical value, the country The discount rates used to calculate present is classified as less indebted. Countries are further value are interest rates charged by the Organisa- classified as low-income if 2002 GNI per capita tion for Economic Co-operation and Development was $735 or less and as middle-income if 2002 (OECD) countries for officially supported export GNI per capita was $736 or more but less than credits. They represent, on average, the most $9,075. Combining these criteria leads to the favorable terms for fixed-rate nonconcessional identification of severely indebted low-income debt that countries are able to contract in interna- countries (SILICs), severely indebted middle- tional loan markets. The rates are specified for income countries (SIMICs), moderately indebted 14 currencies, including--British pounds, Canadian low-income countries (MILICs), moderately in- dollars, Japanese yen, U.S. dollars and the debted middle-income countries (MIMICs), less Euro. International Bank for Reconstruction and xxxii Development currency-pool loans, International In present value calculations, debt service on Development Association credits, and Interna- fixed-rate loans is determined and each payment tional Monetary Fund loans are discounted at the is discounted to compute its present value. For special drawing rights lending rate. For debt de- variable-rate loans, for which the future debt ser- nominated in other currencies, discount rates are vice payment cannot be precisely determined, debt the average of the above interest rates on export service is calculated using the rate at the end of credits charged by OECD countries. 2002 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 or 220 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 countries capita less than $735 low-income countries low-income countries Middle-income: GNI Severely indebted Moderately indebted Less indebted middle-income countries per 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 indebted low-income middle-income low-income middle-income low-income middle-income Angola Argentina Benina Bulgaria Armenia Albania Bhutanb, c Belize Burkina Fasoa Chile Azerbaijan Algeria Burundi Brazil Cambodia Colombia Bangladesh Belarus Central African Republic Dominicab Cameroon Croatia Equatorial Guinea Boliviaa Chad Ecuador Eritreab Grenada Haitia Bosnia and Herzegovina Comoros Estoniab Gambia, Thea Honduras India Botswana Congo, Dem. Rep. of Gabon Georgia Hungary Lesotho Cape Verde Congo, Rep. of Guyana Ghana Kazakhstan Madagascara China Côte d'Ivoire Jamaicab Guineaa Lithuaniab Mozambique Costa Rica Ethiopiad Jordan Kenya Malaysia Solomon Islands Czech Republic Guinea-Bissau Latviab Malawia Moroccob Tanzaniaa Djibouti Indonesia Lebanon Mali Philippines Ugandaa Dominican Republic Kyrgyz Republic Panama Mauritaniaa Russian Federation Ukraine Egypt, Arab Rep. of Lao PDR Peru Moldovaa Samoa Vietnam El Salvador Liberia Serbia and Montenegro Mongolia Slovak Republic Yemen, Republic of Fiji Myanmar Syrian Arab Republic Nepalb Sri Lankab Guatemala Nicaragua Turkeyb Nigera St. Kitts and Nevis Iran, Islamic Rep. of Nigeria Uruguay Pakistana St. Luciab Macedonia, FYR Papua New Guineab Senegal St. Vincent and the Grenadines Maldives Rwanda Uzbekistan Thailand Mauritius São Tomé and Principe Zimbabwe Tunisia Mexico Sierra Leone Turkmenistan Oman Somalia Paraguay Sudan Poland Tajikistan Romania Togob Seychellese Zambia South Africa Swaziland Tonga Trinidad and Tobago Vanuatu Venezuela, R. B. de 27 18 21 22 15 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 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 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 xxxvi 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 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. xxxvii Table 3: EXTERNAL DEBT Maturity distribution of debt, 2002 Short-term debt to reserves, 2002 Brazil Brazil Mexico Mexico Russian Russian Federation Federation China China Argentina Argentina Indonesia Indonesia India India Turkey Turkey Poland Poland Philippines Philippines Thailand Thailand Malaysia Malaysia Chile Chile Pakistan Pakistan Colombia Colombia Hungary Hungary Venezuela, Venezuela, R. B. de R. B. de Nigeria Nigeria Egypt, Egypt, Short-term debt to Arab Rep. Arab Rep. reserves Short-term debt Debt due in the short term to reserves Peru Long-term debt Peru 0 50 100 150 200 0 50 100 150 200 250 Billions of US dollars Percent 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 issued abroad, and nonbank credits. Debt due in the short term is larger than short-term debt, but when these data are derived from different sources this may not hold. Reserves are the sum of a country's monetary authority's holdings of special drawing rights, its reserve position in the 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 Bank Web site: http://www.worldbank.org/data). xxxviii Table 4: AGGREGATE NET RESOURCE FLOWS (long-term) (US$ millions) Private flows Aggregate net Bank and Official flows resource flows Foreign direct Portfolio trade-related (including (excl. IMF) investment equity Bonds lending grants) 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 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 Table 4: AGGREGATE NET RESOURCE FLOWS (long-term) (US$ millions) Private flows Aggregate net Bank and Official flows resource flows Foreign direct Portfolio trade-related (including (excl. IMF) investment equity Bonds lending grants) 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 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 xl Table 4: AGGREGATE NET RESOURCE FLOWS (long-term) (US$ millions) Private flows Aggregate net Bank and Official flows resource flows Foreign direct Portfolio trade-related (including (excl. IMF) investment equity Bonds lending grants) 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 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 1997­01 represent average annual flows. xli Table 4: AGGREGATE NET RESOURCE FLOWS (long-term) Private capital flows Foreign direct investment China China Brazil Brazil Mexico Mexico Argentina Argentina Poland Poland Chile Chile South Africa South Africa Russian Russian Federation Federation India India Turkey Turkey Venezuela, Venezuela, R. B. de R. B. de Colombia Colombia Czech Czech Republic Republic Philippines Philippines Hungary Hungary Malaysia Malaysia Kazakhstan Kazakhstan Croatia Croatia Thailand Average annual Thailand Average annual flows in 1997­2001 flows in 1997­2001 Romania Flows in 2002 Romania Flows in 2002 20 10 0 10 20 30 40 50 60 10 0 10 20 30 40 50 Billions of US dollars Billions of US dollars Note: Country selection is based on average annual capital flows during 1997­2001 and shows the largest recipients. xlii Table 5: NET FLOWS AND TRANSFERS ON DEBT (US$ millions) Net flows on long-term debt Net flows Net transfers Net flows on Official on debt on debt debt/GNI (%) Total (excl. IMF) Private 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 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 Table 5: NET FLOWS AND TRANSFERS ON DEBT (US$ millions) Net flows on long-term debt Net flows Net transfers Net flows on Official on debt on debt debt/GNI (%) Total (excl. IMF) Private 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 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 xliv Table 5: NET FLOWS AND TRANSFERS ON DEBT (US$ millions) Net flows on long-term debt Net flows Net transfers Net flows on Official on debt on debt debt/GNI (%) Total (excl. IMF) Private 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 1997­01 2002 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 1997­01 represent average annual flows. xlv Table 5: NET FLOWS AND TRANSFERS ON DEBT Private debt flows (net) Short-term debt flows (net) Argentina Argentina Turkey Turkey Poland Poland Russian Russian Federation Federation Chile Chile Mexico Mexico Philippines Philippines Lebanon Lebanon Croatia Croatia Hungary Hungary Colombia Colombia Malaysia Malaysia Kazakhstan Kazakhstan Venezuela, Venezuela, R. B. de R. B. de Latvia Latvia Lithuania Lithuania Slovak Slovak Republic Republic Ukraine Ukraine Czech Czech Republic Average annual Republic Average annual flows in 1997­2001 flows in 1997­2001 Romania Flows in 2002 Romania Flows in 2002 10 5 0 5 10 6 3 0 3 6 Billions of US dollars Billions of US dollars Note: Figures show the largest recipients based on the size of average annual private debt flows during 1997­2001. xlvi Table 6: NET FINANCIAL FLOWS FROM MULTILATERAL INSTITUTIONS, 2002 (US$ millions) Public and publicly guaranteed Regional World Bank IMF development banks Total IBRD IDA conc. non-conc. conc. non-conc. Others EBRD IFC 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 Table 6: NET FINANCIAL FLOWS FROM MULTILATERAL INSTITUTIONS, 2002 (US$ millions) Public and publicly guaranteed Regional World Bank IMF development banks Total IBRD IDA conc. non-conc. conc. non-conc. Others EBRD IFC 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 Table 6: NET FINANCIAL FLOWS FROM MULTILATERAL INSTITUTIONS, 2002 (US$ millions) Public and publicly guaranteed Regional World Bank IMF development banks Total IBRD IDA conc. non-conc. conc. non-conc. Others EBRD IFC 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 Table 6: NET FINANCIAL FLOWS FROM MULTILATERAL INSTITUTIONS, 2001 East Asia & Pacific Europe & Central Asia Billions of US dollars Billions of US dollars 0.0 7.0 6.0 1.0 5.0 2.0 4.0 3.0 3.0 2.0 4.0 1.0 5.0 0.0 6.0 1.0 Total World IMF Regional Others Total World IMF Regional Others Mult. Bank Banks Mult. Bank Banks Latin America & the Caribbean Middle East & North Africa Billions of US dollars Billions of US dollars 16.0 0.1 14.0 0.0 12.0 0.1 0.2 10.0 0.3 8.0 0.4 6.0 0.5 4.0 0.6 2.0 0.7 0.0 0.8 2.0 0.9 Total World IMF Regional Others Total World IMF Regional Others Mult. Bank Banks Mult. Bank Banks South Asia Sub-Saharan Africa Billions of US dollars Billions of US dollars 0.5 3.5 0.0 3.0 2.5 0.5 2.0 1.0 1.5 1.5 1.0 2.0 0.5 2.5 0.0 Total World IMF Regional Others Total World IMF Regional Others Mult. Bank Banks Mult. Bank Banks All developing countries Billions of US dollars 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 2.0 Total World IMF Regional Others Mult. Bank Banks l Table 7: INTERNATIONAL BOND ISSUES, NEW AND OUTSTANDING (US$ millions) Outstanding New Issues 2001 2002 2001 2002 Repayments PPG Brady PNG PPG Brady PNG PPG PNG PPG PNG Bonds 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 Table 7: INTERNATIONAL BOND ISSUES, NEW AND OUTSTANDING (US$ millions) Outstanding New Issues 2001 2002 2001 2002 Repayments PPG Brady PNG PPG Brady PNG PPG PNG PPG PNG Bonds Bonds Bonds Bonds Bonds Bonds Total Bonds Bonds Total Bonds Bonds 2001 2002 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. Repayment profile of PPG bonds (excluding Brady bonds) Millions of US dollars 40 35 30 25 20 15 10 5 0 2003 2007 2011 2015 2019 2023 2023 Repayment profile of Brady bonds Millions of US dollars 14 12 10 8 6 4 2 0 2003 2007 2011 2015 2019 2023 2023 Repayment profile of PNG bonds Millions of US dollars 18 16 14 12 10 8 6 4 2 0 2003 2007 2011 2015 2019 2023 2023 Note: PPG bonds exclude Brady bonds. PPG is public and publicly guaranteed; PNG is private non-guaranteed. T A B L E O F C O N T E N T S liii 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 liv . Regional and income group aggregate tables 2 3/17/04 12:13 PM ALL 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 2,433,315 Long-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 1,960,289 Public 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 1,427,453 Private nonguaranteed 15,202 68,257 60,091 354,712 500,474 537,278 546,685 538,888 540,281 532,836 Use of IMF credit 756 11,561 34,651 59,734 76,942 72,763 58,448 75,281 95,809 108,715 Short-term debt .. 132,158 215,997 393,221 358,632 341,274 323,309 328,964 326,410 364,311 of 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 12,969 108,292 127,493 290,171 306,081 276,033 257,957 280,785 282,596 289,797 Long-term debt 12,638 102,901 119,251 278,257 284,893 261,835 247,843 249,424 248,168 260,747 IMF purchases 331 5,391 8,242 11,914 21,188 14,199 10,114 31,361 34,428 27,959 Principal repayments 6,603 42,840 84,376 192,849 184,832 239,906 258,656 259,161 276,690 277,475 Long-term debt 5,873 40,876 76,205 184,310 177,733 223,497 237,893 247,263 256,276 256,985 IMF repurchases 730 1,963 8,171 8,539 7,099 16,410 20,763 11,898 20,414 19,960 Net flows on debt 6,417 94,953 54,822 105,307 57,618 13,807 -9,821 -1,226 7,341 44,325 of which short-term debt .. 29,501 11,705 7,986 -63,632 -22,320 -9,123 -22,851 1,435 32,005 Interest payments (INT) .. 44,991 65,346 103,241 110,850 115,181 121,772 117,287 96,241 95,100 Long-term debt 2,289 30,633 51,523 82,006 90,745 95,732 101,000 101,753 83,756 83,972 IMF charges 0 454 2,500 2,207 2,502 2,843 2,881 2,671 2,971 2,053 Short-term debt .. 13,904 11,323 19,028 17,602 16,606 17,891 12,863 9,513 9,075 Net transfers on debt .. 49,962 -10,524 2,066 -53,232 -101,375 -131,594 -118,514 -88,900 -50,775 Total debt service paid (TDS) .. 87,831 149,722 296,090 295,681 355,087 380,428 376,448 372,931 372,575 Long-term debt 8,163 71,509 127,728 266,316 268,479 319,229 338,893 349,016 340,032 341,488 IMF repurchases and charges 730 2,418 10,671 10,746 9,601 19,253 23,644 14,569 23,386 22,013 Short-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 97,819 312,926 316,028 261,219 213,458 209,492 175,152 188,204 Net 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 4,322 Foreign direct investment (net) 2,062 6,279 24,033 171,095 175,563 181,722 162,170 175,035 147,086 135,200 Portfolio equity flows -2 -1 3,004 22,594 6,586 12,640 12,634 4,397 4,945 14,340 Grants (excluding technical coop.) 1,838 12,821 27,737 25,290 26,719 28,519 28,705 27,899 31,228 34,342 Memo: 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 31,232 Interest on long-term debt 2,289 30,633 51,523 82,006 90,745 95,732 101,000 101,753 83,756 83,972 Profit remittances on FDI 662 17,890 17,175 56,333 57,318 59,185 76,556 79,105 76,121 73,000 Memo: 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 6,603,965 Exports 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 2,479,101 Worker remit. & comp. of employees 57 17,661 30,425 66,055 62,909 67,621 68,361 77,038 88,104 93,000 Imports 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 2,442,149 International 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 98.2 EDT / GNI (%) .. 20.0 34.1 36.3 42.0 44.0 39.4 38.2 38.9 36.8 TDS / XGS (%) .. 13.6 18.6 18.2 19.1 21.8 19.4 19.4 17.8 15.0 INT / XGS (%) .. 7.0 8.1 6.3 7.1 7.1 6.2 6.0 4.6 3.8 INT / GNI (%) .. 1.6 1.6 1.8 2.0 2.1 2.1 2.0 1.6 1.4 RES / EDT (%) .. 34.7 14.7 29.7 27.7 28.9 31.7 35.8 42.6 51.4 RES / MGS (months) .. 3.6 2.9 4.4 4.6 5.0 4.5 5.0 5.8 6.1 Short-term / EDT (%) .. 23.9 16.0 18.5 15.3 14.4 14.0 14.5 14.0 15.0 Concessional / EDT (%) .. 16.2 20.4 16.3 16.3 16.9 16.5 16.2 17.2 17.7 Multilateral / EDT (%) .. 8.3 15.0 13.3 13.5 14.0 14.4 14.9 15.3 15.4 3 ALL 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 1,960,289 Public 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 1,427,453 Official 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 71,732 206,918 232,609 258,520 272,423 250,606 237,407 254,249 267,411 Private 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 51,653 Private 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 59,745 266,899 404,677 438,293 450,029 444,810 446,766 425,706 Memo: 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 12,638 102,901 119,251 278,257 284,893 261,835 247,843 249,424 248,168 260,747 Public and publicly guaranteed 8,512 81,998 101,925 163,381 162,112 144,852 138,134 124,589 115,474 140,444 Official 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 14,074 Private 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 5,324 Private 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 99,892 Memo: 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 76,205 184,310 177,733 223,497 237,893 247,263 256,276 256,985 Public and publicly guaranteed 3,426 29,190 68,921 125,369 105,852 111,856 124,795 124,878 125,564 148,994 Official 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 15,098 Private 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 13,193 Private 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 98,515 111,921 118,051 100,722 Memo: 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 4,322 Public and publicly guaranteed 5,086 52,808 33,004 38,011 56,260 32,996 13,339 -289 -10,090 -8,550 Official 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 -1,024 Private 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 -7,869 Private 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 -830 Memo: 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 4 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 2,289 30,633 51,523 82,006 90,745 95,732 101,000 101,753 83,756 83,972 Public and publicly guaranteed 1,537 23,947 46,943 62,451 62,112 63,571 67,920 71,072 58,620 59,125 Official 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 5,003 Private 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 1,858 Private 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 18,043 Memo: 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 -79,650 Public and publicly guaranteed 3,550 28,861 -13,939 -24,440 -5,851 -30,575 -54,581 -71,361 -68,711 -67,676 Official 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 -6,027 Private 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 -9,727 Private 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 -18,873 Memo: 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 71,509 127,728 266,316 268,479 319,229 338,893 349,016 340,032 341,488 Public and publicly guaranteed 4,962 53,137 115,864 187,821 167,964 175,427 192,715 195,950 184,185 208,119 Official 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 20,101 Private 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 15,051 Private 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 83,931 124,523 123,624 134,706 136,321 118,765 Memo: 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 .. 5 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 Private Flows Official Flows 350.0 2003 2003 300.0 2002 2002 250.0 2001 2001 200.0 2000 2000 150.0 1999 1999 1998 1998 100.0 1997 1997 50.0 1996 1996 0.0 1996 1997 1998 1999 2000 2001 2002 2003 -50.0 0.0 50.0 100.0 150.0 200.0 250.0 -20.0 -10.0 0.0 10.0 20.0 30.0 40.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 6 3/17/04 12:10 PM EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 8,582 60,730 234,092 526,312 533,178 538,604 497,272 501,273 497,354 514,713 Long-term debt (LDOD) 7,092 45,081 194,633 387,326 432,731 448,790 417,660 397,070 386,285 391,314 Public and publicly guaranteed 5,088 36,330 172,998 265,028 274,041 291,465 268,213 264,294 266,176 276,073 Private nonguaranteed 2,004 8,751 21,635 122,298 158,691 157,324 149,447 132,777 120,109 115,242 Use of IMF credit 224 1,551 2,085 6,933 14,511 16,056 16,452 13,384 11,618 11,337 Short-term debt .. 14,098 37,374 132,054 85,936 73,759 63,161 90,819 99,451 112,062 of 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 45,160 Long-term debt 1,518 12,271 29,452 72,532 41,214 48,886 38,839 45,011 48,298 43,716 IMF purchases 66 524 58 6,222 7,181 2,022 1,493 604 1,513 1,444 Principal repayments 618 4,271 18,662 38,555 37,518 49,203 47,925 54,409 68,464 56,698 Long-term debt 612 4,066 17,377 38,280 37,348 49,085 47,657 51,287 64,225 54,764 IMF repurchases 6 205 1,286 276 170 118 267 3,121 4,238 1,934 Net flows on debt 966 11,905 18,643 44,861 -32,464 -12,174 -17,720 -8,064 -10,948 523 of which short-term debt .. 3,380 7,795 4,662 -43,341 -13,878 -10,127 729 7,704 12,061 Interest payments (INT) .. 4,814 12,510 24,814 24,426 24,625 24,951 22,725 17,871 16,790 Long-term debt 162 3,000 10,155 17,860 19,024 20,219 20,352 18,658 14,432 13,565 IMF charges 0 60 245 51 361 565 793 692 360 129 Short-term debt .. 1,754 2,110 6,903 5,041 3,841 3,806 3,375 3,079 3,096 Net transfers on debt .. 7,091 6,133 20,047 -56,890 -36,799 -42,671 -30,588 -28,820 -16,267 Total debt service paid (TDS) .. 9,085 31,172 63,370 61,944 73,828 72,876 77,134 86,335 73,489 Long-term debt 774 7,065 27,531 56,140 56,372 69,304 68,009 69,945 78,657 68,329 IMF repurchases and charges 6 265 1,531 327 531 683 1,060 3,814 4,598 2,063 Short-term debt (interest only) .. 1,754 2,110 6,903 5,041 3,841 3,806 3,375 3,079 3,096 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 1,731 10,645 25,108 94,829 60,539 54,580 42,683 45,113 44,599 52,770 Net flow of long-term debt (ex. IMF) 906 8,206 12,075 34,253 3,866 -199 -8,818 -6,276 -15,927 -11,048 Foreign direct investment (net) 201 1,312 10,513 62,138 57,662 49,950 44,236 48,205 54,834 56,800 Portfolio equity flows 0 -4 439 -3,917 -3,449 2,322 4,768 1,020 3,493 4,800 Grants (excluding technical coop.) 624 1,131 2,081 2,356 2,460 2,508 2,498 2,164 2,199 2,218 Memo: 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 11,805 Interest on long-term debt 162 3,000 10,155 17,860 19,024 20,219 20,352 18,658 14,432 13,565 Profit remittances on FDI 0 1,675 5,159 22,722 22,681 25,799 32,216 32,419 28,443 27,400 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 1,953,646 Exports of goods, serv. & inc. (XGS) 0 33,927 175,980 524,080 488,475 530,771 642,687 629,163 715,103 864,219 Worker remit. & comp. of employees 0 1,025 3,014 15,892 9,811 12,130 12,175 13,674 16,984 17,600 Imports of goods & services (MGS) 0 39,650 181,985 509,648 434,195 477,280 597,103 598,548 666,864 826,852 International 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 EDT / XGS (%) .. 179.0 133.0 100.4 109.2 101.5 77.4 79.7 69.5 59.6 EDT / GNI (%) .. 16.6 35.7 35.6 40.5 37.6 32.2 30.9 28.0 26.3 TDS / XGS (%) .. 26.8 17.7 12.1 12.7 13.9 11.3 12.3 12.1 8.5 INT / XGS (%) .. 14.2 7.1 4.7 5.0 4.6 3.9 3.6 2.5 1.9 INT / GNI (%) .. 1.3 1.9 1.7 1.9 1.7 1.6 1.4 1.0 0.9 RES / EDT (%) .. 50.6 30.5 42.7 46.3 51.0 57.2 66.6 85.7 107.1 RES / MGS (months) .. 9.3 4.7 5.3 6.8 6.9 5.7 6.7 7.7 8.0 Short-term / EDT (%) .. 23.2 16.0 25.1 16.1 13.7 12.7 18.1 20.0 21.8 Concessional / EDT (%) .. 19.1 29.4 14.1 17.7 20.0 20.9 19.9 21.9 23.0 Multilateral / EDT (%) .. 9.0 14.9 9.8 11.2 12.0 13.2 13.2 13.3 13.1 7 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 7,092 45,081 194,633 387,326 432,731 448,790 417,660 397,070 386,285 391,314 Public and publicly guaranteed 5,088 36,330 172,998 265,028 274,041 291,465 268,213 264,294 266,176 276,073 Official 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 96,414 Private 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 24,344 Private 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 96,105 Memo: 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 43,716 Public and publicly guaranteed 755 9,360 19,611 45,886 29,286 34,285 25,393 25,262 22,265 23,720 Official 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 5,989 Private 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 1,907 Private 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 17,872 Memo: 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 54,764 Public and publicly guaranteed 228 2,184 14,808 22,855 17,472 24,983 23,444 22,443 29,886 33,013 Official 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 7,319 Private 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 5,446 Private 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 20,477 Memo: 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 -11,048 Public and publicly guaranteed 526 7,175 4,803 23,031 11,815 9,302 1,949 2,819 -7,622 -9,293 Official 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 -1,329 Private 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 -3,540 Private 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 -2,605 Memo: 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 8 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 162 3,000 10,155 17,860 19,024 20,219 20,352 18,658 14,432 13,565 Public and publicly guaranteed 94 2,124 8,864 12,245 11,790 12,314 12,812 12,914 10,028 9,748 Official 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 1,865 Private 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 1,137 964 813 Private 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 2,505 Memo: 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 -24,613 Public and publicly guaranteed 433 5,052 -4,062 10,786 24 -3,012 -10,863 -10,095 -17,650 -19,041 Official 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 -3,194 Private 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 -4,353 Private 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 -5,110 Memo: 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 68,329 Public and publicly guaranteed 322 4,308 23,672 35,100 29,262 37,297 36,256 35,357 39,914 42,760 Official 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 9,183 Private 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 6,259 Private 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 22,982 Memo: 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 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 4.9 6.0 .. Deutsche mark 7.8 6.0 3.7 2.1 2.5 2.0 2.0 .. .. .. French franc 3.9 3.9 1.7 1.1 2.1 1.5 1.5 .. .. .. Japanese yen 6.5 20.3 29.1 22.0 25.2 28.6 28.6 25.3 27.0 .. Pound sterling 5.3 1.1 1.0 0.6 0.6 0.5 0.5 0.4 0.4 .. Swiss franc 0.8 0.7 0.9 0.2 0.2 0.2 0.2 0.2 0.2 .. U.S.dollars 43.2 39.1 23.6 51.8 53.8 51.2 55.3 59.5 57.2 .. Multiple currency 8.7 19.7 22.9 14.5 8.3 8.9 7.7 6.9 6.6 .. Special drawing rights 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.2 .. All other currencies 23.7 9.1 17.1 7.6 7.2 6.8 4.1 2.5 2.5 .. 9 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 120.0 2003 2003 100.0 2002 2002 2001 2001 80.0 2000 2000 60.0 1999 1999 40.0 1998 1998 1997 1997 20.0 1996 1996 0.0 1996 1997 1998 1999 2000 2001 2002 2003 -20.0 0.0 20.0 40.0 60.0 80.0 -10.0 -5.0 0.0 5.0 10.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 10 2/2/04 9:02 AM EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5,028 75,598 217,224 387,545 485,194 495,590 503,938 498,876 545,842 577,354 Long-term debt (LDOD) 3,965 56,405 176,378 310,375 386,857 399,443 401,556 396,756 434,625 450,380 Public and publicly guaranteed 3,069 44,865 171,457 267,535 293,254 292,237 282,484 264,806 276,350 290,004 Private nonguaranteed 896 11,540 4,921 42,839 93,603 107,206 119,072 131,950 158,275 160,376 Use of IMF credit 74 2,143 1,305 21,195 27,661 23,862 21,950 27,156 34,245 33,803 Short-term debt .. 17,051 39,541 55,975 70,676 72,286 80,431 74,964 76,971 93,171 of 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 90,742 Long-term debt 1,007 20,047 28,389 47,732 65,967 63,088 60,403 66,083 85,310 88,841 IMF purchases 75 1,238 747 3,372 7,407 2,807 4,369 12,150 13,481 1,901 Principal repayments 584 7,186 19,741 26,798 36,191 48,749 53,241 69,442 75,332 78,341 Long-term debt 512 6,857 19,009 25,854 34,125 42,853 48,162 63,354 66,487 74,360 IMF repurchases 72 329 732 945 2,066 5,896 5,079 6,089 8,845 3,981 Net flows on debt 497 13,519 1,699 32,845 41,540 16,142 20,982 2,038 24,909 29,469 of which short-term debt .. -580 -7,697 8,539 4,357 -1,003 9,450 -6,754 1,450 17,067 Interest payments (INT) .. 5,390 12,146 18,200 20,488 20,721 23,459 25,195 23,139 25,006 Long-term debt 148 3,409 9,548 15,072 16,746 16,429 18,442 21,468 19,797 22,265 IMF charges 0 103 128 909 1,058 1,013 1,080 1,170 1,164 502 Short-term debt .. 1,879 2,470 2,218 2,683 3,279 3,937 2,557 2,178 2,239 Net transfers on debt .. 8,129 -10,447 14,645 21,052 -4,579 -2,477 -23,157 1,770 4,462 Total debt service paid (TDS) .. 12,576 31,886 44,998 56,679 69,470 76,700 94,637 98,471 103,347 Long-term debt 660 10,266 28,557 40,926 50,871 59,282 66,604 84,821 86,284 96,626 IMF repurchases and charges 72 432 860 1,854 3,124 6,910 6,159 7,259 10,009 4,483 Short-term debt (interest only) .. 1,879 2,470 2,218 2,683 3,279 3,937 2,557 2,178 2,239 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 606 13,490 11,716 53,984 67,351 58,832 51,327 41,944 59,789 51,308 Net flow of long-term debt (ex. IMF) 495 13,190 9,380 21,878 31,842 20,235 12,241 2,730 18,824 14,481 Foreign direct investment (net) 58 29 1,227 22,620 26,150 28,419 29,276 31,848 32,931 26,200 Portfolio equity flows 0 0 89 4,044 3,975 1,956 1,215 264 -433 655 Grants (excluding technical coop.) 53 272 1,020 5,441 5,384 8,222 8,595 7,102 8,467 9,072 Memo: 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 16,043 Interest on long-term debt 148 3,409 9,548 15,072 16,746 16,429 18,442 21,468 19,797 22,265 Profit remittances on FDI 0 31 218 2,918 4,076 4,267 6,383 7,999 11,951 13,000 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 1,308,045 Exports of goods, serv. & inc. (XGS) 0 17,903 63,715 365,105 365,685 343,746 414,854 436,558 474,840 603,293 Worker remit. & comp. of employees 0 2,071 3,246 7,258 10,450 9,310 9,721 10,200 10,310 10,400 Imports of goods & services (MGS) 0 23,831 70,800 402,244 400,213 354,791 406,784 429,715 481,931 617,554 International reserves (RES) 440 5,809 14,859 100,893 105,975 113,939 129,688 141,659 186,778 238,129 4. DEBT INDICATORS EDT / XGS (%) .. 422.3 340.9 106.1 132.7 144.2 121.5 114.3 115.0 95.7 EDT / GNI (%) .. 105.2 17.6 35.9 49.8 58.5 54.1 50.8 48.8 44.1 TDS / XGS (%) .. 70.2 50.0 12.3 15.5 20.2 18.5 21.7 20.7 17.1 INT / XGS (%) .. 30.1 19.1 5.0 5.6 6.0 5.7 5.8 4.9 4.1 INT / GNI (%) .. 7.5 1.0 1.7 2.1 2.4 2.5 2.6 2.1 1.9 RES / EDT (%) .. 7.7 6.8 26.0 21.8 23.0 25.7 28.4 34.2 41.2 RES / MGS (months) .. 2.9 2.5 3.0 3.2 3.9 3.8 4.0 4.7 4.6 Short-term / EDT (%) .. 22.6 18.2 14.4 14.6 14.6 16.0 15.0 14.1 16.1 Concessional / EDT (%) .. 9.2 5.8 5.3 4.6 5.1 4.8 4.6 4.9 5.2 Multilateral / EDT (%) .. 5.8 7.6 7.5 6.8 6.9 6.9 7.1 7.5 7.5 11 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 3,965 56,405 176,378 310,375 386,857 399,443 401,556 396,756 434,625 450,380 Public and publicly guaranteed 3,069 44,865 171,457 267,535 293,254 292,237 282,484 264,806 276,350 290,004 Official 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 23,113 Private 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 5,960 Private 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 99,944 111,374 123,968 146,924 146,589 Memo: 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 88,841 Public and publicly guaranteed 540 16,749 26,628 30,595 39,691 27,680 26,052 18,339 20,327 31,388 Official 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 1,387 Private 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 2,357 828 810 548 510 Private 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 50,352 Memo: 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 74,360 Public and publicly guaranteed 304 4,816 17,512 17,568 23,279 17,721 20,195 26,110 21,944 30,490 Official 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 1,648 Private 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 2,558 Private 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 43,830 Memo: 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 14,481 Public and publicly guaranteed 236 11,933 9,117 13,027 16,412 9,958 5,857 -7,771 -1,617 898 Official 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 -261 Private 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 -2,048 Private 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 6,522 Memo: 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 12 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 148 3,409 9,548 15,072 16,746 16,429 18,442 21,468 19,797 22,265 Public and publicly guaranteed 115 2,560 9,107 13,124 12,350 11,507 12,585 15,363 13,962 15,704 Official 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 35 157 246 740 689 643 626 575 607 539 Private 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 1,014 871 887 605 680 484 285 Private 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 5,632 Memo: 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 -7,784 Public and publicly guaranteed 121 9,372 10 -97 4,062 -1,549 -6,728 -23,134 -15,579 -14,806 Official 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 -800 Private 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 -2,333 Private 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 12,166 890 Memo: 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 96,626 Public and publicly guaranteed 419 7,376 26,618 30,692 35,629 29,228 32,780 41,473 35,905 46,194 Official 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 2,187 Private 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 2,843 Private 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 49,463 Memo: 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 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 26.9 30.8 .. Deutsche mark 16.0 11.0 24.9 20.5 21.9 17.6 15.3 .. .. .. French franc 2.7 9.3 5.0 2.6 2.5 2.1 2.0 .. .. .. Japanese yen 0.1 2.4 7.6 7.2 6.4 6.4 6.0 5.0 4.8 .. Pound sterling 5.0 2.6 1.8 0.8 0.7 0.7 0.6 0.6 0.8 .. Swiss franc 1.4 4.5 6.5 0.7 0.6 0.4 0.3 0.3 0.3 .. U.S.dollars 44.7 41.8 32.4 55.1 55.3 57.8 58.9 59.6 57.0 .. Multiple currency 15.2 21.5 10.6 8.0 7.3 7.2 7.1 7.0 5.6 .. Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. All other currencies 14.9 6.8 11.1 5.1 5.5 7.8 9.9 0.7 0.7 .. 13 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 80.0 2003 2003 70.0 2002 2002 60.0 2001 2001 50.0 2000 2000 40.0 1999 1999 30.0 1998 1998 20.0 1997 1997 10.0 1996 1996 0.0 1996 1997 1998 1999 2000 2001 2002 2003 0.0 10.0 20.0 30.0 40.0 -10.0 -5.0 0.0 5.0 10.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 14 2/2/04 9:03 AM LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 32,548 242,669 444,227 665,833 748,373 770,153 751,918 729,290 727,944 762,126 Long-term debt (LDOD) 27,633 172,869 352,476 523,283 610,924 643,466 639,713 615,864 613,916 625,974 Public and publicly guaranteed 15,760 130,422 327,447 360,737 390,772 398,486 394,867 374,888 384,961 402,640 Private nonguaranteed 11,873 42,447 25,029 162,545 220,152 244,980 244,847 240,976 228,955 223,334 Use of IMF credit 128 1,410 18,297 18,564 21,969 20,498 8,846 23,901 38,302 52,177 Short-term debt .. 68,390 73,453 123,987 115,480 106,190 103,359 89,525 75,725 83,975 of 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 98,149 116,678 Long-term debt 6,452 43,939 27,646 122,347 140,750 120,661 114,252 107,666 80,506 91,936 IMF purchases 124 415 4,836 777 5,036 7,746 3,510 17,210 17,644 23,651 Principal repayments 3,751 21,652 22,017 90,065 80,184 108,352 124,875 105,199 97,044 99,790 Long-term debt 3,453 21,165 18,366 85,366 77,657 99,691 110,641 103,577 91,279 87,023 IMF repurchases 298 487 3,651 4,699 2,527 8,660 14,234 1,623 5,765 12,237 Net flows on debt 2,825 45,699 18,098 25,396 38,041 12,123 -9,672 6,283 -7,883 19,498 of which short-term debt .. 22,997 7,633 -7,663 -27,561 -7,932 -2,558 -13,394 -8,988 2,610 Interest payments (INT) .. 24,339 21,925 40,891 46,284 51,888 55,249 53,466 39,664 37,411 Long-term debt 1,395 17,355 18,089 33,490 38,972 44,694 47,909 48,298 36,258 34,548 IMF charges 0 95 1,459 928 828 1,040 777 608 1,195 1,070 Short-term debt .. 6,890 2,377 6,472 6,484 6,153 6,562 4,560 2,211 1,794 Net transfers on debt .. 21,360 -3,827 -15,495 -8,244 -39,765 -64,920 -47,183 -47,547 -17,913 Total debt service paid (TDS) .. 45,991 43,942 130,956 126,468 160,239 180,124 158,666 136,709 137,201 Long-term debt 4,848 38,520 36,455 118,856 116,629 144,386 158,550 151,875 127,538 122,101 IMF repurchases and charges 298 582 5,110 5,627 3,355 9,700 15,012 2,231 6,960 13,306 Short-term debt (interest only) .. 6,890 2,377 6,472 6,484 6,153 6,562 4,560 2,211 1,794 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 4,305 29,557 22,203 119,712 137,917 108,274 82,588 79,539 38,145 46,198 Net 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 5,474 Foreign direct investment (net) 1,173 6,358 8,181 66,718 73,823 88,035 76,961 69,949 44,682 36,600 Portfolio equity flows 0 0 2,464 13,326 -2,170 -3,626 -453 2,291 1,507 1,420 Grants (excluding technical coop.) 133 425 2,278 2,686 3,171 2,896 2,469 3,210 2,730 2,904 Memo: 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 -4,650 Interest on long-term debt 1,395 17,355 18,089 33,490 38,972 44,694 47,909 48,298 36,258 34,548 Profit remittances on FDI 662 5,213 7,520 19,979 20,619 17,831 22,409 20,401 18,456 16,300 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 1,653,528 Exports of goods, serv. & inc. (XGS) 4,142 125,994 184,175 371,695 373,946 390,017 463,718 445,322 444,666 474,558 Worker remit. & comp. of employees 51 1,879 5,703 13,781 15,158 16,876 19,152 22,914 26,763 29,600 Imports of goods & services (MGS) 4,585 156,616 190,508 441,389 468,197 450,835 514,589 503,923 463,918 479,432 International 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 EDT / XGS (%) .. 192.6 241.2 179.1 200.1 197.5 162.1 163.8 163.7 160.6 EDT / GNI (%) .. 34.2 42.2 34.3 38.5 44.7 39.3 39.5 45.3 46.1 TDS / XGS (%) .. 36.5 23.9 35.2 33.8 41.1 38.8 35.6 30.7 28.9 INT / XGS (%) .. 19.3 11.9 11.0 12.4 13.3 11.9 12.0 8.9 7.9 INT / GNI (%) .. 3.4 2.1 2.1 2.4 3.0 2.9 2.9 2.5 2.3 RES / EDT (%) .. 23.5 13.2 26.3 22.2 20.6 21.3 22.1 22.5 25.4 RES / MGS (months) .. 4.4 3.7 4.8 4.2 4.2 3.7 3.8 4.2 4.8 Short-term / EDT (%) .. 28.2 16.5 18.6 15.4 13.8 13.7 12.3 10.4 11.0 Concessional / EDT (%) .. 4.1 5.4 5.1 4.4 4.4 4.1 4.1 4.3 4.6 Multilateral / EDT (%) .. 5.8 13.5 10.6 11.2 11.9 12.4 13.4 14.0 14.0 15 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 27,633 172,869 352,476 523,283 610,924 643,466 639,713 615,864 613,916 625,974 Public and publicly guaranteed 15,760 130,422 327,447 360,737 390,772 398,486 394,867 374,888 384,961 402,640 Official 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 21,326 Private 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 4,149 Private 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 24,858 116,141 166,153 186,482 184,412 180,058 170,477 158,419 Memo: 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 91,936 Public and publicly guaranteed 3,692 30,979 22,944 56,975 61,419 56,452 56,433 54,499 42,978 56,637 Official 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 1,912 Private 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 2,691 668 656 351 761 Private 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 28,837 Memo: 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 87,023 Public and publicly guaranteed 1,682 14,205 16,150 55,027 39,348 44,148 52,592 50,802 45,355 50,133 Official 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 1,615 Private 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 1,510 Private 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 31,100 Memo: 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 5,474 Public and publicly guaranteed 2,010 16,774 6,794 1,948 22,070 12,303 3,841 3,697 -2,377 6,504 Official 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 98 297 Private 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 -749 Private 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 -2,263 Memo: 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 16 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 1,395 17,355 18,089 33,490 38,972 44,694 47,909 48,298 36,258 34,548 Public and publicly guaranteed 767 12,926 15,827 22,611 23,329 26,785 29,866 30,809 22,399 20,999 Official 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 75 200 135 638 835 752 667 604 550 546 Private 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 1,274 552 546 474 785 809 270 187 Private 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 9,249 Memo: 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 -29,074 Public and publicly guaranteed 1,244 3,848 -9,033 -20,663 -1,259 -14,482 -26,026 -27,111 -24,776 -14,495 Official 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 -249 Private 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 -936 Private 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 -11,512 Memo: 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 36,455 118,856 116,629 144,386 158,550 151,875 127,538 122,101 Public and publicly guaranteed 2,449 27,131 31,977 77,639 62,678 70,933 82,459 81,611 67,754 71,132 Official 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 2,161 Private 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 1,697 Private 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 40,349 Memo: 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 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 11.6 12.5 .. Deutsche mark 7.8 6.1 6.3 6.2 5.8 4.5 3.8 .. .. .. French franc 2.3 2.0 3.9 2.4 1.8 1.4 1.0 .. .. .. Japanese yen 0.1 4.9 6.2 7.0 6.4 6.8 6.6 6.2 6.0 .. Pound sterling 4.5 1.5 1.6 1.4 1.1 0.9 0.6 0.5 0.5 .. Swiss franc 1.9 1.3 0.9 0.4 0.4 0.3 0.2 0.2 0.3 .. U.S.dollars 63.0 70.1 59.5 65.8 72.7 73.5 74.4 75.2 75.0 .. Multiple currency 16.9 10.5 18.8 13.6 7.5 6.9 6.2 5.9 5.4 .. Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 .. All other currencies 3.5 3.7 2.7 3.1 4.3 5.7 7.0 0.3 0.3 .. 17 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 160.0 2003 2003 140.0 2002 2002 120.0 2001 2001 100.0 2000 2000 80.0 1999 1999 60.0 1998 1998 40.0 1997 1997 20.0 1996 1996 0.0 1996 1997 1998 1999 2000 2001 2002 2003 -20.0 0.0 20.0 40.0 60.0 80.0 100.0 -15.0 -10.0 -5.0 0.0 5.0 10.0 15.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 18 2/2/04 9:04 AM MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 4,822 77,368 155,134 172,634 189,329 193,649 180,708 178,400 189,010 188,149 Long-term debt (LDOD) 4,167 57,424 120,603 137,612 149,362 149,703 140,873 139,010 148,851 148,464 Public and publicly guaranteed 4,152 56,829 119,101 131,086 140,790 142,720 134,344 132,446 142,396 143,140 Private nonguaranteed 15 595 1,502 6,526 8,572 6,983 6,529 6,564 6,455 5,324 Use of IMF credit 100 916 1,815 2,874 2,954 2,901 2,542 2,340 2,219 1,796 Short-term debt .. 19,028 32,716 32,148 37,013 41,045 37,292 37,050 37,940 37,889 of 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 9,614 Long-term debt 853 11,578 13,838 10,304 14,127 11,962 11,649 13,342 14,414 9,614 IMF purchases 38 350 65 739 451 501 24 165 99 0 Principal repayments 413 5,021 13,115 15,027 12,227 15,296 13,932 12,275 14,349 17,324 Long-term debt 382 4,789 12,718 14,585 11,732 14,816 13,694 11,997 13,952 16,824 IMF repurchases 31 233 397 442 494 480 238 278 396 500 Net flows on debt 478 8,114 935 -2,921 7,082 -1,839 -6,130 933 930 -7,761 of which short-term debt .. 1,207 146 1,063 4,730 993 -3,870 -298 766 -51 Interest payments (INT) .. 5,756 7,413 8,025 8,257 7,963 7,993 7,088 7,110 6,529 Long-term debt 100 3,655 4,773 6,192 6,359 5,980 5,698 5,463 5,696 5,262 IMF charges 0 32 180 126 127 111 130 104 60 30 Short-term debt .. 2,068 2,459 1,707 1,772 1,872 2,166 1,522 1,353 1,237 Net transfers on debt .. 2,357 -6,478 -10,946 -1,175 -9,801 -14,124 -6,155 -6,180 -14,290 Total debt service paid (TDS) .. 10,778 20,528 23,052 20,484 23,259 21,926 19,363 21,458 23,853 Long-term debt 482 8,444 17,492 20,777 18,091 20,796 19,392 17,460 19,649 22,086 IMF repurchases and charges 31 265 577 568 621 591 368 382 457 530 Short-term debt (interest only) .. 2,068 2,459 1,707 1,772 1,872 2,166 1,522 1,353 1,237 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 971 9,624 11,826 5,735 13,499 3,437 3,692 9,239 5,218 -1,803 Net flow of long-term debt (ex. IMF) 471 6,789 1,120 -4,281 2,395 -2,854 -2,046 1,345 462 -7,210 Foreign direct investment (net) 119 -1,736 2,605 6,294 7,435 2,942 2,438 5,796 2,653 2,000 Portfolio equity flows -1 0 5 693 205 645 243 -122 -281 -12 Grants (excluding technical coop.) 382 4,571 8,097 3,029 3,465 2,705 3,056 2,220 2,384 3,619 Memo: 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 -12,765 Interest on long-term debt 100 3,655 4,773 6,192 6,359 5,980 5,698 5,463 5,696 5,262 Profit remittances on FDI 0 8,106 2,224 4,911 4,627 4,797 5,289 7,032 6,233 5,700 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 32,734 318,234 351,823 498,425 492,505 516,273 564,109 574,497 572,821 560,744 Exports of goods, serv. & inc. (XGS) 0 177,258 141,527 176,613 141,544 170,628 216,349 209,379 222,751 247,392 Worker remit. & comp. of employees 0 6,078 11,433 10,833 10,561 10,694 10,976 13,184 13,049 13,000 Imports of goods & services (MGS) 0 134,575 133,410 164,180 155,844 154,839 171,928 173,298 186,477 216,824 International 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 EDT / XGS (%) .. 43.6 109.6 97.7 133.8 113.5 83.5 85.2 84.9 76.1 EDT / GNI (%) .. 24.3 44.1 34.6 38.4 37.5 32.0 31.1 33.0 33.6 TDS / XGS (%) .. 6.1 14.5 13.1 14.5 13.6 10.1 9.2 9.6 9.6 INT / XGS (%) .. 3.2 5.2 4.5 5.8 4.7 3.7 3.4 3.2 2.6 INT / GNI (%) .. 1.8 2.1 1.6 1.7 1.5 1.4 1.2 1.2 1.2 RES / EDT (%) .. 77.9 19.7 37.9 33.2 33.8 40.1 44.7 51.0 59.7 RES / MGS (months) .. 5.4 2.8 4.8 4.8 5.1 5.1 5.5 6.2 6.2 Short-term / EDT (%) .. 24.6 21.1 18.6 19.5 21.2 20.6 20.8 20.1 20.1 Concessional / EDT (%) .. 23.1 28.1 33.8 32.7 31.6 31.8 31.2 30.5 31.7 Multilateral / EDT (%) .. 7.1 10.1 13.0 12.8 12.6 12.9 13.0 12.7 13.4 19 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 4,167 57,424 120,603 137,612 149,362 149,703 140,873 139,010 148,851 148,464 Public and publicly guaranteed 4,152 56,829 119,101 131,086 140,790 142,720 134,344 132,446 142,396 143,140 Official 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 50,543 Private 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 9,850 Private 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 4,528 Memo: 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 9,614 Public and publicly guaranteed 845 11,324 13,699 9,087 11,075 10,730 10,235 11,864 12,648 9,228 Official 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 1,523 Private 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 1,640 Private 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 1,626 226 Memo: 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 16,824 Public and publicly guaranteed 379 4,675 12,541 14,093 10,912 12,585 12,920 10,932 11,954 15,414 Official 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 1,761 Private 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 2,316 Private 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 1,245 Memo: 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 -7,210 Public and publicly guaranteed 466 6,649 1,158 -5,006 163 -1,855 -2,684 932 694 -6,186 Official 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 -239 Private 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 -676 Private 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 -1,019 Memo: IBRD 8 281 403 -478 -325 46 -339 -125 -353 -386 IDA 8 81 24 208 144 167 73 63 94 80 20 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 100 3,655 4,773 6,192 6,359 5,980 5,698 5,463 5,696 5,262 Public and publicly guaranteed 99 3,606 4,665 5,834 5,969 5,668 5,385 5,168 5,475 4,995 Official 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 1,104 664 Private 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 1,006 794 661 508 418 369 Private 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 50 108 320 312 243 244 218 139 205 Memo: 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 -12,472 Public and publicly guaranteed 367 3,043 -3,507 -10,840 -5,806 -7,523 -8,069 -4,235 -4,781 -11,182 Official 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 -903 Private 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 -1,045 Private 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 -1,224 Memo: 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 22,086 Public and publicly guaranteed 479 8,281 17,207 19,927 16,881 18,253 18,304 16,099 17,428 20,409 Official 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 2,426 Private 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 2,685 Private 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 1,450 Memo: 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 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 19.4 20.6 .. Deutsche mark 7.7 6.9 7.6 6.6 6.1 4.9 4.6 .. .. .. French franc 18.6 10.9 13.3 11.7 11.2 9.3 8.8 .. .. .. Japanese yen 0.0 6.2 7.2 8.7 8.9 10.0 9.2 8.2 8.3 .. Pound sterling 4.1 1.4 1.6 1.1 0.9 0.8 0.7 1.1 1.1 .. Swiss franc 1.1 1.4 1.0 0.7 0.6 0.6 0.7 0.8 0.9 .. U.S.dollars 33.0 49.8 43.9 44.1 45.7 42.5 43.1 45.3 44.7 .. Multiple currency 3.1 5.0 8.5 9.0 4.5 4.0 3.8 3.4 2.8 .. Special drawing rights 0.0 0.0 0.5 0.2 0.3 0.3 0.3 0.3 0.3 .. All other currencies 32.5 13.4 14.4 13.3 13.5 13.6 14.2 21.5 21.2 .. 21 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 16.0 2003 2003 14.0 12.0 2002 2002 10.0 2001 2001 8.0 2000 6.0 2000 4.0 1999 1999 2.0 1998 1998 0.0 -2.0 1997 1997 -4.0 1996 1996 -6.0 1996 1997 1998 1999 2000 2001 2002 2003 -10.0 -5.0 0.0 5.0 10.0 -6.0 -4.0 -2.0 0.0 2.0 4.0 6.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 22 2/2/04 9:05 AM SOUTH ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 12,270 36,615 124,395 149,611 157,625 161,962 159,945 156,295 168,349 171,283 Long-term debt (LDOD) 11,721 31,660 107,527 138,619 148,064 152,621 152,019 149,192 158,722 160,327 Public and publicly guaranteed 11,616 31,303 105,800 126,938 136,857 142,243 136,611 135,030 144,785 147,889 Private nonguaranteed 105 357 1,727 11,681 11,206 10,378 15,408 14,161 13,938 12,437 Use of IMF credit 124 2,507 4,537 2,781 2,461 2,323 1,918 2,178 2,416 2,541 Short-term debt .. 2,448 12,331 8,210 7,101 7,018 6,009 4,926 7,211 8,416 of 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 12,951 Long-term debt 1,568 4,498 10,223 13,844 15,124 9,145 13,991 8,489 10,170 12,311 IMF purchases 10 1,647 1,875 281 313 611 195 641 468 640 Principal repayments 786 1,537 5,259 11,354 9,351 9,364 9,783 8,707 12,500 16,435 Long-term debt 525 1,211 4,104 10,242 8,613 8,668 9,300 8,397 12,090 15,609 IMF repurchases 260 326 1,155 1,112 738 696 483 310 411 825 Net flows on debt 792 5,653 8,389 694 4,746 509 3,423 -662 410 -2,286 of which short-term debt .. 1,045 1,550 -2,077 -1,340 117 -980 -1,086 2,273 1,198 Interest payments (INT) .. 1,186 6,047 6,497 6,374 5,284 5,648 5,154 5,036 4,939 Long-term debt 291 833 4,596 5,728 5,844 4,920 5,272 4,893 4,770 4,680 IMF charges 0 61 249 91 63 59 58 61 48 77 Short-term debt .. 291 1,202 678 467 305 318 200 217 182 Net transfers on debt .. 4,467 2,341 -5,803 -1,627 -4,775 -2,226 -5,816 -4,626 -7,226 Total debt service paid (TDS) .. 2,723 11,306 17,851 15,724 14,648 15,431 13,861 17,536 21,374 Long-term debt 816 2,045 8,699 15,970 14,457 13,588 14,572 13,290 16,860 20,290 IMF repurchases and charges 260 387 1,404 1,203 801 755 541 371 459 902 Short-term debt (interest only) .. 291 1,202 678 467 305 318 200 217 182 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 1,361 6,287 8,985 13,517 11,546 8,202 13,035 10,140 5,780 11,383 Net flow of long-term debt (ex. IMF) 1,043 3,287 6,119 3,602 6,511 477 4,692 92 -1,920 -3,299 Foreign direct investment (net) 68 195 536 4,897 3,548 3,069 3,431 4,979 4,164 5,100 Portfolio equity flows 0 0 1 2,876 -627 2,382 2,810 1,908 1,046 6,977 Grants (excluding technical coop.) 250 2,806 2,330 2,142 2,115 2,274 2,102 3,161 2,491 2,605 Memo: 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 3,603 Interest on long-term debt 291 833 4,596 5,728 5,844 4,920 5,272 4,893 4,770 4,680 Profit remittances on FDI 0 34 117 1,006 1,218 1,113 2,637 3,439 3,234 3,100 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 79,491 229,378 394,499 532,443 538,777 570,458 588,174 607,238 636,795 751,303 Exports of goods, serv. & inc. (XGS) 0 23,723 41,056 84,123 83,755 91,356 105,894 107,799 123,058 146,745 Worker remit. & comp. of employees 0 5,296 5,571 14,551 13,340 15,077 12,793 13,129 16,922 18,200 Imports of goods & services (MGS) 0 29,913 53,116 96,520 96,483 100,901 118,843 114,284 124,227 151,721 International reserves (RES) 1,355 14,464 8,255 34,784 37,375 42,702 47,124 57,337 85,302 116,034 4. DEBT INDICATORS EDT / XGS (%) .. 154.3 303.0 177.8 188.2 177.3 151.0 145.0 136.8 116.7 EDT / GNI (%) .. 16.0 31.5 28.1 29.3 28.4 27.2 25.7 26.4 22.8 TDS / XGS (%) .. 11.5 27.5 21.2 18.8 16.0 14.6 12.9 14.3 14.6 INT / XGS (%) .. 5.0 14.7 7.7 7.6 5.8 5.3 4.8 4.1 3.4 INT / GNI (%) .. 0.5 1.5 1.2 1.2 0.9 1.0 0.8 0.8 0.7 RES / EDT (%) .. 39.5 6.6 23.2 23.7 26.4 29.5 36.7 50.7 67.7 RES / MGS (months) .. 5.8 1.9 4.3 4.6 5.1 4.8 6.0 8.2 9.2 Short-term / EDT (%) .. 6.7 9.9 5.5 4.5 4.3 3.8 3.2 4.3 4.9 Concessional / EDT (%) .. 73.3 54.5 50.9 51.7 55.2 50.2 51.2 52.3 55.1 Multilateral / EDT (%) .. 25.1 30.6 37.3 37.9 38.9 38.2 38.8 37.5 37.8 23 SOUTH ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 11,721 31,660 107,527 138,619 148,064 152,621 152,019 149,192 158,722 160,327 Public and publicly guaranteed 11,616 31,303 105,800 126,938 136,857 142,243 136,611 135,030 144,785 147,889 Official 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 42,112 Private 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 1,866 Private 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 11,987 Memo: 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 12,311 Public and publicly guaranteed 1,540 4,202 9,970 11,215 13,930 8,592 13,405 7,917 9,361 10,479 Official 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 2,885 Private 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 134 245 567 559 681 780 829 289 128 444 Private 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 1,381 Memo: 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 15,609 Public and publicly guaranteed 500 1,113 3,745 9,597 7,996 7,099 8,592 7,544 11,082 13,360 Official 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 1,625 Private 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 1,146 341 629 230 245 Private 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 2,249 Memo: 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 -3,299 Public and publicly guaranteed 1,041 3,088 6,225 1,618 5,934 1,493 4,813 373 -1,721 -2,881 Official 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 1,260 Private 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 -103 198 Private 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 -868 Memo: 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 24 SOUTH ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 291 833 4,596 5,728 5,844 4,920 5,272 4,893 4,770 4,680 Public and publicly guaranteed 285 802 4,448 5,397 5,210 4,117 4,363 4,333 4,456 4,481 Official 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 144 414 952 897 747 730 685 607 728 870 Private 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 59 Private 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 31 148 175 366 557 683 346 150 184 Memo: 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 -7,979 Public and publicly guaranteed 756 2,287 1,778 -3,779 724 -2,624 450 -3,960 -6,178 -7,362 Official 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 -932 389 Private 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 -151 140 Private 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 -1,051 Memo: 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 20,290 Public and publicly guaranteed 784 1,915 8,192 14,994 13,206 11,217 12,955 11,877 15,538 17,841 Official 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 2,495 Private 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 1,437 449 726 278 304 Private 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 2,433 Memo: 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 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 6.3 6.3 .. Deutsche mark 9.3 8.7 6.2 4.8 4.8 4.2 3.5 .. .. .. French franc 1.4 2.4 1.7 1.7 1.6 1.4 1.4 .. .. .. Japanese yen 5.3 9.2 12.5 14.1 15.6 17.3 14.5 13.3 15.5 .. Pound sterling 21.7 18.4 5.0 3.2 3.0 2.7 2.8 2.6 2.3 .. Swiss franc 0.4 0.3 0.5 0.4 0.3 0.2 0.3 0.3 0.3 .. U.S.dollars 41.1 42.9 54.1 53.2 52.9 52.9 58.0 60.0 60.6 .. Multiple currency 9.2 7.6 14.3 18.4 17.8 17.6 16.1 14.3 12.0 .. Special drawing rights 0.0 0.0 0.8 1.4 1.4 1.4 1.5 1.5 1.5 .. All other currencies 11.5 10.3 4.8 2.8 2.6 2.2 2.0 1.6 1.3 .. 25 SOUTH ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 16.0 2003 2003 14.0 2002 2002 12.0 2001 2001 10.0 2000 2000 8.0 1999 1999 6.0 1998 1998 4.0 1997 1997 2.0 1996 1996 0.0 1996 1997 1998 1999 2000 2001 2002 2003 -5.0 0.0 5.0 10.0 15.0 -3.0 -2.0 -1.0 0.0 1.0 2.0 3.0 4.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 26 2/2/04 9:06 AM SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 6,921 60,661 176,826 220,677 228,392 214,712 211,183 202,609 210,350 219,690 Long-term debt (LDOD) 6,059 46,484 149,632 172,441 178,578 166,611 171,387 164,607 174,229 183,829 Public and publicly guaranteed 5,751 41,917 144,356 163,619 170,329 156,204 160,005 152,147 161,681 167,706 Private nonguaranteed 309 4,567 5,276 8,823 8,249 10,407 11,382 12,460 12,548 16,123 Use of IMF credit 106 3,033 6,612 7,388 7,387 7,124 6,739 6,323 7,009 7,062 Short-term debt .. 11,144 20,582 40,847 42,426 40,977 33,058 31,679 29,112 28,799 of 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 14,651 Long-term debt 1,240 10,568 9,703 11,497 7,711 8,093 8,709 8,833 9,470 14,328 IMF purchases 19 1,217 660 523 801 512 525 590 1,224 323 Principal repayments 452 3,172 5,582 11,050 9,362 8,942 8,900 9,129 9,002 8,888 Long-term debt 389 2,788 4,631 9,984 8,258 8,383 8,438 8,652 8,243 8,405 IMF repurchases 63 384 951 1,065 1,104 560 462 477 759 483 Net flows on debt 859 10,064 7,059 4,432 -1,326 -953 -704 -1,755 -77 4,883 of which short-term debt .. 1,451 2,278 3,462 -477 -616 -1,037 -2,048 -1,770 -880 Interest payments (INT) .. 3,506 5,306 4,814 5,021 4,701 4,472 3,658 3,420 4,425 Long-term debt 193 2,380 4,362 3,663 3,802 3,490 3,328 2,973 2,802 3,653 IMF charges 0 103 238 101 65 54 43 35 143 245 Short-term debt .. 1,022 705 1,050 1,155 1,157 1,101 649 475 527 Net transfers on debt .. 6,558 1,754 -382 -6,348 -5,655 -5,176 -5,412 -3,497 458 Total debt service paid (TDS) .. 6,678 10,888 15,864 14,383 13,643 13,372 12,787 12,422 13,314 Long-term debt 582 5,169 8,993 13,647 12,060 11,873 11,766 11,625 11,044 12,058 IMF repurchases and charges 63 487 1,189 1,166 1,168 614 505 512 902 728 Short-term debt (interest only) .. 1,022 705 1,050 1,155 1,157 1,101 649 475 527 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 1,688 11,519 17,981 25,149 25,175 27,894 20,134 23,517 21,621 28,848 Net flow of long-term debt (ex. IMF) 851 7,779 5,072 1,513 -547 -290 271 181 1,228 5,923 Foreign direct investment (net) 442 121 972 8,428 6,946 9,307 5,827 14,259 7,822 8,500 Portfolio equity flows -1 3 6 5,572 8,653 8,962 4,050 -964 -387 500 Grants (excluding technical coop.) 396 3,616 11,931 9,636 10,124 9,915 9,986 10,042 12,958 13,925 Memo: 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 17,695 Interest on long-term debt 193 2,380 4,362 3,663 3,802 3,490 3,328 2,973 2,802 3,653 Profit remittances on FDI 0 2,831 1,937 4,797 4,098 5,379 7,622 7,816 7,806 7,500 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 60,913 275,610 292,438 327,829 308,785 306,608 307,077 299,871 302,414 379,603 Exports of goods, serv. & inc. (XGS) 217 89,707 81,252 106,246 93,988 101,041 121,170 115,824 117,785 135,417 Worker remit. & comp. of employees 6 1,312 1,458 3,740 3,588 3,535 3,545 3,937 4,077 4,100 Imports of goods & services (MGS) 231 89,573 86,776 118,684 116,563 113,783 119,531 121,122 124,951 139,958 International reserves (RES) 3,085 22,950 15,364 30,318 28,983 30,421 36,774 37,030 37,849 38,590 4. DEBT INDICATORS EDT / XGS (%) .. 67.6 217.6 207.7 243.0 212.5 174.3 174.9 178.6 162.2 EDT / GNI (%) .. 22.0 60.5 67.3 74.0 70.0 68.8 67.6 69.6 57.9 TDS / XGS (%) .. 7.4 13.4 14.9 15.3 13.5 11.0 11.0 10.5 9.8 INT / XGS (%) .. 3.9 6.5 4.5 5.3 4.7 3.7 3.2 2.9 3.3 INT / GNI (%) .. 1.3 1.8 1.5 1.6 1.5 1.5 1.2 1.1 1.2 RES / EDT (%) .. 37.8 8.7 13.7 12.7 14.2 17.4 18.3 18.0 17.6 RES / MGS (months) .. 3.1 2.1 3.1 3.0 3.2 3.7 3.7 3.6 3.3 Short-term / EDT (%) .. 18.4 11.6 18.5 18.6 19.1 15.7 15.6 13.8 13.1 Concessional / EDT (%) .. 27.1 33.1 37.6 39.2 39.2 39.0 39.4 42.0 42.5 Multilateral / EDT (%) .. 12.5 21.6 24.3 25.0 26.1 25.9 26.9 29.0 30.8 27 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 6,059 46,484 149,632 172,441 178,578 166,611 171,387 164,607 174,229 183,829 Public and publicly guaranteed 5,751 41,917 144,356 163,619 170,329 156,204 160,005 152,147 161,681 167,706 Official 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 33,904 Private 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 5,485 Private 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 8,078 Memo: 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 14,328 Public and publicly guaranteed 1,139 9,385 9,073 9,622 6,712 7,114 6,616 6,709 7,897 8,992 Official 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 2,087 676 580 579 535 315 320 379 Private 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 62 Private 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 1,223 Memo: 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 8,405 Public and publicly guaranteed 332 2,196 4,166 6,229 6,845 5,319 7,052 7,048 5,344 6,583 Official 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 1,131 Private 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 1,117 Private 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 1,822 Memo: 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 5,923 Public and publicly guaranteed 807 7,189 4,907 3,393 -134 1,795 -436 -339 2,553 2,408 Official 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 -751 Private 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 -1,054 Private 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 -599 Memo: 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 28 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 193 2,380 4,362 3,663 3,802 3,490 3,328 2,973 2,802 3,653 Public and publicly guaranteed 178 1,930 4,031 3,240 3,463 3,180 2,909 2,486 2,300 3,200 Official 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 61 209 560 434 627 441 301 290 292 518 Private 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 45 374 688 386 392 368 231 190 179 145 Private 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 16 451 331 384 298 237 378 389 341 268 Memo: 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 2,270 Public and publicly guaranteed 630 5,259 876 153 -3,597 -1,385 -3,345 -2,825 252 -791 Official 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 -1,269 Private 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 -1,200 Private 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 -866 Memo: 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 12,058 Public and publicly guaranteed 510 4,126 8,197 9,469 10,308 8,499 9,961 9,534 7,644 9,783 Official 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 1,649 Private 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 1,262 Private 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 2,090 Memo: 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 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 14.1 14.0 .. Deutsche mark 6.6 7.0 6.4 4.6 4.7 4.3 2.7 .. .. .. French franc 14.4 13.9 14.1 10.8 10.9 10.0 7.8 .. .. .. Japanese yen 0.1 5.4 3.9 4.9 5.5 6.8 4.2 3.8 3.8 .. Pound sterling 22.1 5.6 5.4 4.0 3.8 3.9 2.0 1.9 1.7 .. Swiss franc 0.3 1.7 2.1 1.5 1.4 1.4 1.2 1.2 1.3 .. U.S.dollars 21.8 35.7 36.6 46.4 46.8 49.9 60.9 62.5 62.8 .. Multiple currency 11.2 8.9 10.4 8.8 7.6 7.7 7.0 6.8 6.5 .. Special drawing rights 0.0 0.0 0.6 1.1 1.1 1.3 1.2 1.3 1.3 .. All other currencies 23.4 22.3 20.5 18.0 18.1 14.8 13.0 8.6 8.6 .. 29 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 35.0 2003 2003 30.0 2002 2002 25.0 2001 2001 20.0 2000 2000 15.0 1999 1999 1998 1998 10.0 1997 1997 5.0 1996 1996 0.0 1996 1997 1998 1999 2000 2001 2002 2003 -5.0 0.0 5.0 10.0 15.0 20.0 -5.0 0.0 5.0 10.0 15.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 30 2/5/04 9:15 AM LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 23,717 120,742 411,419 527,259 520,179 554,970 550,656 526,453 504,990 523,464 Long-term debt (LDOD) 21,871 98,885 351,318 435,608 431,752 473,119 468,268 450,517 433,309 448,932 Public and publicly guaranteed 20,824 90,708 333,365 382,093 367,590 399,707 402,895 386,858 378,370 399,076 Private nonguaranteed 1,047 8,177 17,953 53,515 64,162 73,412 65,373 63,659 54,939 49,857 Use of IMF credit 318 5,324 11,317 12,659 14,332 20,805 21,909 21,485 19,629 20,258 Short-term debt .. 16,533 48,783 78,993 74,095 61,046 60,480 54,451 52,052 54,273 of 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 9,188 Memo: 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 10,468 Memo: 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 24,301 Long-term debt 3,577 19,042 30,886 42,566 43,605 34,333 26,232 28,060 20,691 21,139 IMF purchases 66 2,815 2,529 1,411 4,243 7,139 3,007 1,965 1,911 3,163 Principal repayments 1,362 6,207 16,988 32,715 31,491 28,131 28,424 26,860 25,979 32,516 Long-term debt 1,054 5,496 14,807 30,701 29,715 26,638 27,040 25,680 23,249 28,730 IMF repurchases 308 711 2,181 2,015 1,776 1,493 1,384 1,179 2,730 3,786 Net flows on debt 2,333 19,308 23,548 19,997 18,297 810 -545 2,867 -6,479 -6,074 of which short-term debt .. 3,657 7,121 8,735 1,939 -12,531 -1,359 -297 -3,104 2,141 Interest payments (INT) .. 6,056 15,308 17,038 17,064 17,674 14,967 16,907 14,099 11,782 Long-term debt 531 4,362 12,360 14,259 14,050 14,936 12,603 14,110 12,077 10,226 IMF charges 0 153 511 276 210 338 527 678 602 473 Short-term debt .. 1,541 2,437 2,503 2,804 2,401 1,837 2,119 1,420 1,082 Net transfers on debt .. 13,252 8,240 2,960 1,232 -16,865 -15,512 -14,040 -20,377 -17,855 Total debt service paid (TDS) .. 12,263 32,296 49,753 48,555 45,805 43,392 43,767 40,078 44,298 Long-term debt 1,585 9,858 27,167 44,960 43,765 41,574 39,643 39,791 35,326 38,956 IMF repurchases and charges 308 864 2,692 2,291 1,986 1,831 1,911 1,858 3,331 4,260 Short-term debt (interest only) .. 1,541 2,437 2,503 2,804 2,401 1,837 2,119 1,420 1,082 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 3,818 21,125 33,747 49,893 43,850 29,925 26,032 24,381 26,785 24,401 Net flow of long-term debt (ex. IMF) 2,523 13,546 16,079 11,865 13,890 7,695 -808 2,379 -2,557 -7,591 Foreign direct investment (net) 276 417 2,764 17,504 18,532 12,931 10,912 5,788 11,327 12,941 Portfolio equity flows 0 -1 6 5,985 -2,047 -4,966 1,636 1,791 2,361 1,927 Grants (excluding technical coop.) 1,019 7,163 14,898 14,539 13,475 14,265 14,292 14,424 15,654 17,124 Memo: 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 3,689 Interest on long-term debt 531 4,362 12,360 14,259 14,050 14,936 12,603 14,110 12,077 10,226 Profit remittances on FDI 0 2,683 4,157 6,258 6,641 5,862 7,033 11,092 10,914 10,486 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 159,062 596,551 842,637 959,660 979,464 860,318 932,084 966,932 992,993 1,068,269 Exports of goods, serv. & inc. (XGS) 217 75,226 141,640 212,497 231,926 213,446 232,255 285,260 276,037 299,291 Worker remit. & comp. of employees 0 6,396 8,138 16,103 19,739 18,761 20,714 18,457 21,010 25,701 Imports of goods & services (MGS) 231 84,719 171,745 254,850 269,369 250,191 252,821 291,608 285,469 307,824 International 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 EDT / XGS (%) .. 160.5 290.5 248.1 224.3 260.0 237.1 184.6 182.9 174.9 EDT / GNI (%) .. 20.2 48.8 54.9 53.1 64.5 59.1 54.4 50.9 49.0 TDS / XGS (%) .. 16.3 22.8 23.4 20.9 21.5 18.7 15.3 14.5 14.8 INT / XGS (%) .. 8.1 10.8 8.0 7.4 8.3 6.4 5.9 5.1 3.9 INT / GNI (%) .. 1.0 1.8 1.8 1.7 2.1 1.6 1.7 1.4 1.1 RES / EDT (%) .. 30.0 6.3 12.9 14.2 14.7 16.9 20.2 23.3 28.9 RES / MGS (months) .. 5.1 1.8 3.2 3.3 3.9 4.4 4.4 5.0 5.9 Short-term / EDT (%) .. 13.7 11.9 15.0 14.2 11.0 11.0 10.3 10.3 10.4 Concessional / EDT (%) .. 43.9 42.4 41.6 37.9 39.0 41.0 40.7 41.7 44.5 Multilateral / EDT (%) .. 16.1 22.5 25.1 25.1 25.5 26.6 27.3 28.4 29.4 31 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 21,871 98,885 351,318 435,608 431,752 473,119 468,268 450,517 433,309 448,932 Public and publicly guaranteed 20,824 90,708 333,365 382,093 367,590 399,707 402,895 386,858 378,370 399,076 Official 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 39,916 120,276 133,959 109,924 121,218 126,967 115,723 110,581 119,256 Private 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 11,330 Private 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 43,913 Memo: 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 21,139 Public and publicly guaranteed 3,143 16,860 24,703 26,359 27,198 29,351 22,896 24,717 17,814 18,441 Official 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 2,584 Private 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 1,440 965 818 271 Private 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 2,308 Memo: 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 28,730 Public and publicly guaranteed 890 4,077 12,573 22,646 21,004 18,019 18,497 18,743 16,736 20,760 Official 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 2,710 Private 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 1,250 914 Private 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 6,979 Memo: 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 -7,591 Public and publicly guaranteed 2,253 12,782 12,130 3,713 6,194 11,332 4,399 5,975 1,078 -2,320 Official 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 -126 Private 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 -643 Private 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 -4,671 Memo: 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 32 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 531 4,362 12,360 14,259 14,050 14,936 12,603 14,110 12,077 10,226 Public and publicly guaranteed 480 3,502 11,215 11,935 11,501 11,394 10,740 10,938 10,294 8,827 Official 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 1,502 Private 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 1,056 934 835 538 443 220 Private 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 1,009 759 Memo: 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 -17,817 Public and publicly guaranteed 1,773 9,281 915 -8,222 -5,307 -62 -6,341 -4,964 -9,216 -11,147 Official 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 -1,628 Private 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 -863 Private 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 -5,430 Memo: 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 38,956 Public and publicly guaranteed 1,370 7,579 23,787 34,581 32,505 29,413 29,237 29,681 27,030 29,587 Official 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 4,212 Private 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 1,134 Private 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 7,738 Memo: 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 63,462 Official creditors 6,161 37,133 85,105 81,410 76,232 71,957 67,542 60,067 59,178 60,729 Private creditors 877 10,544 14,645 12,470 12,084 13,141 11,470 4,020 3,755 2,733 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 9.5 9.7 Deutsche 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 13.5 Pound sterling 18.1 9.0 4.0 3.0 3.1 2.9 2.7 2.0 1.8 1.7 Swiss franc 0.4 1.0 1.1 1.0 0.9 0.8 0.7 0.7 0.7 0.8 U.S.dollars 37.4 39.7 38.7 39.3 44.4 47.9 49.3 57.0 59.5 59.4 Multiple currency 8.1 8.6 13.2 14.7 14.0 10.6 10.5 9.9 9.1 8.2 Special drawing rights 0.0 0.0 0.6 1.0 1.0 1.1 1.1 1.1 1.2 1.2 All other currencies 18.3 17.5 18.9 16.6 13.9 13.1 11.0 8.4 5.7 5.5 33 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 88 180 Debt 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 2,114 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 59.0 Official 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 65.4 Private 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 13.7 Memorandum 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 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 60.0 2002 2002 50.0 2001 2001 2000 2000 40.0 1999 1999 30.0 1998 1998 20.0 1997 1997 1996 1996 10.0 1995 1995 0.0 1995 1996 1997 1998 1999 2000 2001 2002 -20.0 -10.0 0.0 10.0 20.0 30.0 -5.0 0.0 5.0 10.0 15.0 20.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 34 3/17/04 12:20 PM MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA 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 1,815,384 Long-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 1,467,697 Public and publicly guaranteed 24,611 250,959 707,793 952,643 947,353 1,006,336 1,020,461 989,665 945,241 977,273 Private nonguaranteed 14,155 60,079 42,138 225,802 290,550 427,062 471,905 483,026 483,949 490,424 Use of IMF credit 438 6,237 23,334 47,438 45,402 56,137 50,854 36,962 55,653 75,551 Short-term debt .. 115,625 167,214 302,988 319,127 297,586 280,794 268,858 276,911 272,136 of 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 7,125 Memo: 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 12,584 Memo: 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 94,077 209,615 242,322 264,609 246,795 227,933 258,182 258,295 Long-term debt 9,060 83,859 88,364 202,366 234,651 250,560 235,603 219,783 228,733 227,029 IMF purchases 265 2,576 5,713 7,249 7,671 14,049 11,192 8,150 29,449 31,265 Principal repayments 5,242 36,633 67,387 135,193 161,358 156,701 211,482 231,796 233,183 244,174 Long-term debt 4,819 35,380 61,398 129,605 154,595 151,095 196,456 212,212 224,014 227,546 IMF repurchases 422 1,253 5,990 5,588 6,763 5,605 15,026 19,584 9,168 16,628 Net flows on debt 4,084 75,645 31,274 96,470 87,010 56,808 14,352 -12,689 5,253 13,414 of which short-term debt .. 25,844 4,584 22,049 6,047 -51,100 -20,961 -8,826 -19,747 -706 Interest payments (INT) .. 38,935 50,038 80,044 86,177 93,175 100,214 104,865 103,188 84,459 Long-term debt 1,758 26,271 39,163 62,445 67,956 75,810 83,129 86,890 89,676 73,529 IMF charges 0 301 1,989 2,033 1,997 2,164 2,316 2,203 2,069 2,498 Short-term debt .. 12,363 8,886 15,566 16,224 15,201 14,769 15,772 11,443 8,432 Net transfers on debt .. 36,710 -18,764 16,427 833 -36,367 -85,862 -117,554 -97,935 -71,045 Total debt service paid (TDS) .. 75,569 117,426 215,237 247,535 249,876 311,696 336,661 336,370 328,633 Long-term debt 6,578 61,651 100,560 192,049 222,551 226,905 279,585 299,102 313,690 301,076 IMF repurchases and charges 422 1,554 7,979 7,622 8,760 7,770 17,342 21,787 11,237 19,126 Short-term debt (interest only) .. 12,363 8,886 15,566 16,224 15,201 14,769 15,772 11,443 8,432 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 6,845 59,998 64,072 222,014 269,075 286,103 235,187 189,077 182,707 150,751 Net 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 -517 Foreign direct investment (net) 1,786 5,862 21,269 110,094 152,564 162,633 170,810 156,382 163,708 134,145 Portfolio equity flows -2 0 2,997 26,899 24,641 11,552 11,005 10,843 2,036 3,018 Grants (excluding technical coop.) 819 5,658 12,839 12,260 11,815 12,454 14,226 14,281 12,244 14,105 Memo: 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 11,586 Interest on long-term debt 1,758 26,271 39,163 62,445 67,956 75,810 83,129 86,890 89,676 73,529 Profit remittances on FDI 662 15,208 13,018 42,196 49,692 51,457 52,153 65,463 68,191 65,636 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 4,946,029 Exports 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 1,801,292 Worker remit. & comp. of employees 57 11,265 22,287 39,940 46,315 44,147 46,908 49,904 56,028 62,403 Imports 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 1,745,188 International 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 EDT / XGS (%) .. 83.7 141.3 118.2 114.8 133.6 130.6 105.9 105.5 100.8 EDT / GNI (%) .. 19.9 30.1 33.3 32.9 37.9 40.9 36.4 35.7 36.7 TDS / XGS (%) .. 14.6 17.6 16.6 17.7 18.7 22.3 20.0 20.2 18.2 INT / XGS (%) .. 7.5 7.5 6.2 6.2 7.0 7.2 6.2 6.2 4.7 INT / GNI (%) .. 1.8 1.6 1.7 1.8 2.0 2.2 2.1 2.1 1.7 RES / EDT (%) .. 35.9 18.4 34.0 34.8 31.7 32.5 35.1 39.3 46.6 RES / MGS (months) .. 3.8 3.2 4.6 4.6 4.8 5.1 4.6 5.0 5.8 Short-term / EDT (%) .. 26.7 17.8 19.8 19.9 16.7 15.4 15.1 15.7 15.0 Concessional / EDT (%) .. 8.5 10.7 10.3 9.3 9.3 9.7 9.3 8.9 9.3 Multilateral / EDT (%) .. 6.2 11.8 9.9 9.5 9.8 10.2 10.6 11.0 11.2 35 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 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 1,467,697 Public and publicly guaranteed 24,611 250,959 707,793 952,643 947,353 1,006,336 1,020,461 989,665 945,241 977,273 Official 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 86,641 132,424 122,684 137,302 145,456 134,883 126,826 134,993 Private 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 47,804 Private 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 41,912 166,113 216,496 344,803 384,522 394,517 396,415 402,853 Memo: 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 88,364 202,366 234,651 250,560 235,603 219,783 228,733 227,029 Public and publicly guaranteed 5,370 65,138 77,222 128,294 136,182 132,761 121,956 113,417 106,776 97,033 Official 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 6,052 Private 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 4,429 Private 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 95,349 111,423 118,885 Memo: 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 61,398 129,605 154,595 151,095 196,456 212,212 224,014 227,546 Public and publicly guaranteed 2,536 25,113 56,349 94,701 104,365 87,833 93,359 106,053 108,142 104,804 Official 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 7,724 Private 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 10,818 Private 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 94,013 106,848 111,072 Memo: 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 -517 Public and publicly guaranteed 2,834 40,026 20,874 33,593 31,818 44,928 28,597 7,364 -1,367 -7,771 Official 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 -1,672 Private 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 -6,388 Private 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 7,813 Memo: 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 36 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 1,758 26,271 39,163 62,445 67,956 75,810 83,129 86,890 89,676 73,529 Public and publicly guaranteed 1,057 20,445 35,728 50,530 50,950 50,717 52,831 56,982 60,778 49,793 Official 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 3,331 Private 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 2,142 Private 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 17,510 Memo: 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 -74,046 Public and publicly guaranteed 1,777 19,581 -14,854 -16,937 -19,133 -5,790 -24,233 -49,618 -62,145 -57,564 Official 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 -5,003 Private 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 -8,531 Private 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 -9,697 Memo: 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 61,651 100,560 192,049 222,551 226,905 279,585 299,102 313,690 301,076 Public and publicly guaranteed 3,592 45,558 92,076 145,231 155,315 138,551 146,190 163,034 168,920 154,597 Official 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 11,055 Private 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 12,960 Private 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 73,719 117,202 116,925 128,625 128,583 Memo: 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 88,956 117,688 159,491 162,268 192,469 222,267 167,061 139,126 132,672 Official creditors 7,004 50,867 77,171 113,570 112,487 141,745 173,866 118,622 104,307 101,000 Private creditors 2,735 38,089 40,517 45,922 49,781 50,724 48,401 48,439 34,819 31,671 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 15.6 17.6 Deutsche mark 9.1 7.1 10.8 10.3 9.3 9.8 7.8 6.8 .. .. French franc 5.1 5.7 5.7 4.3 3.5 3.5 2.8 2.5 .. .. Japanese yen 0.4 5.9 10.4 11.2 9.9 10.0 11.1 10.5 9.6 9.7 Pound sterling 5.4 1.7 1.6 1.0 1.0 0.8 0.7 0.6 0.6 0.6 Swiss franc 1.6 1.9 2.4 0.8 0.5 0.4 0.3 0.3 0.3 0.3 U.S.dollars 53.3 57.8 45.9 53.9 59.1 61.5 61.4 62.9 64.3 62.9 Multiple currency 15.1 12.6 16.3 12.9 11.3 7.4 7.3 6.6 6.2 5.4 Special drawing rights 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 All other currencies 9.9 6.2 6.5 5.1 4.7 5.3 6.6 7.7 3.3 3.4 37 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 33 Debt 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 42 213 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 22.3 Official 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 38.9 Private 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 14.0 Memorandum 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 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 350.0 2002 2002 300.0 2001 2001 250.0 2000 2000 200.0 1999 1999 150.0 1998 1998 1997 1997 100.0 1996 1996 50.0 1995 1995 0.0 1995 1996 1997 1998 1999 2000 2001 2002 0.0 50.0 100.0 150.0 200.0 -20.0 -10.0 0.0 10.0 20.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants . Country tables 40 ALBANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 491 515 626 709 1,062 1,094 1,312 Long-term debt (LDOD) .. .. .. 405 412 527 599 937 980 1,200 Public and publicly guaranteed .. .. .. 405 412 506 583 922 970 1,187 Private nonguaranteed .. .. .. 0 0 21 16 15 11 13 Use of IMF credit .. .. .. 54 55 64 81 88 83 81 Short-term debt .. .. .. 32 48 35 29 37 31 31 of 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 3 Memo: 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 16 Memo: export credits .. .. .. 38 26 214 177 22 28 30 TOTAL DEBT FLOWS Disbursements .. .. .. 90 65 97 156 138 113 157 Long-term debt .. .. .. 90 52 89 135 120 101 152 IMF purchases .. .. .. 0 12 8 21 19 12 5 Principal repayments .. .. .. 14 16 12 15 16 24 35 Long-term debt .. .. .. 5 8 10 11 9 11 21 IMF repurchases .. .. .. 8 8 1 3 7 14 14 Net flows on debt .. .. .. 46 63 73 136 130 82 123 of which short-term debt .. .. .. -31 14 -13 -6 8 -6 1 Interest payments (INT) .. .. .. 8 8 10 8 11 12 23 Long-term debt .. .. .. 5 6 7 6 8 10 22 IMF charges .. .. .. 1 0 1 1 1 1 1 Short-term debt .. .. .. 1 2 2 1 2 1 1 Net transfers on debt .. .. .. 38 54 63 127 119 70 99 Total debt service paid (TDS) .. .. .. 21 24 21 23 27 37 58 Long-term debt .. .. .. 11 14 17 18 17 21 43 IMF repurchases and charges .. .. .. 9 8 2 4 8 14 14 Short-term debt (interest only) .. .. .. 1 2 2 1 2 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 288 167 251 445 414 434 371 Net flow of long-term debt (ex. IMF) .. .. .. 85 44 79 124 110 90 131 Foreign direct investment (net) .. .. .. 90 48 45 41 143 207 135 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 114 75 127 280 161 137 105 Memo: 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 .. .. .. 281 160 244 439 406 424 348 Interest on long-term debt .. .. .. 5 6 7 6 8 10 22 Profit remittances on FDI .. .. .. 2 2 0 0 0 0 1 Memo: official net transfers .. .. .. 189 116 202 403 265 222 218 private net transfers .. .. .. 92 44 42 36 141 203 130 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 3,085 2,213 2,815 3,520 3,801 4,403 4,963 Exports of goods, serv. & inc. (XGS) .. .. .. 956 551 833 987 1,350 1,616 1,707 Worker remit. & comp. of employees .. .. .. 551 300 504 407 598 699 734 Imports of goods & services (MGS) .. .. .. 1,123 821 950 1,111 1,509 1,789 2,096 International reserves (RES) .. .. .. 323 342 418 523 646 771 866 Current 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 76.9 EDT / GNI (%) .. .. .. 15.9 23.3 22.3 20.1 27.9 24.8 26.4 TDS / XGS (%) .. .. .. 2.2 4.4 2.6 2.3 2.0 2.3 3.4 INT / XGS (%) .. .. .. 0.8 1.5 1.2 0.9 0.8 0.8 1.4 INT / GNI (%) .. .. .. 0.2 0.4 0.4 0.2 0.3 0.3 0.5 RES / EDT (%) .. .. .. 65.9 66.5 66.7 73.8 60.9 70.4 66.0 RES / MGS (months) .. .. .. 3.5 5.0 5.3 5.6 5.1 5.2 5.0 Short-term / EDT (%) .. .. .. 6.4 9.3 5.6 4.1 3.5 2.8 2.4 Concessional / EDT (%) .. .. .. 67.3 66.9 70.8 71.8 52.1 55.1 65.9 Multilateral / EDT (%) .. .. .. 30.8 31.8 38.6 48.5 40.1 40.2 44.3 41 ALBANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 405 412 527 599 937 980 1,200 Public and publicly guaranteed .. .. .. 405 412 506 583 922 970 1,187 Official 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 .. .. .. 189 190 212 193 185 207 348 Private 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 22 Private 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 13 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 137 148 220 296 346 366 476 DISBURSEMENTS .. .. .. 90 52 89 135 120 101 152 Public and publicly guaranteed .. .. .. 90 52 89 134 120 101 149 Official 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 40 Private 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 0 Private 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 3 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 32 19 64 81 64 34 79 PRINCIPAL REPAYMENTS .. .. .. 5 8 10 11 9 11 21 Public and publicly guaranteed .. .. .. 5 8 10 8 9 7 19 Official 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 8 Private 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 0 Private 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 2 Memo: 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 90 131 Public and publicly guaranteed .. .. .. 85 44 79 126 110 93 130 Official 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 32 Private 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 0 Private 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 1 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 32 19 64 81 64 34 79 42 ALBANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 5 6 7 6 8 10 22 Public and publicly guaranteed .. .. .. 5 6 6 6 7 10 17 Official 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 10 Private 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 0 Private 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 5 Memo: 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 80 109 Public and publicly guaranteed .. .. .. 79 39 73 121 103 84 112 Official 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 22 Private 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 0 Private 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 -4 Memo: 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 43 Public and publicly guaranteed .. .. .. 11 14 17 14 17 17 37 Official 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 17 Private 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 0 Private 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 7 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 1 1 2 2 3 3 UNDISBURSED DEBT .. .. .. 403 341 429 478 471 429 507 Official creditors .. .. .. 402 341 429 478 471 429 507 Private creditors .. .. .. 1 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 20.2 23.0 Deutsche 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 2.4 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 61.0 59.6 60.8 62.4 73.2 73.8 67.6 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 0.2 0.3 0.7 1.0 0.7 0.7 0.7 All other currencies .. .. .. 21.3 21.7 21.3 20.8 16.8 2.7 6.4 43 ALBANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 73.6 Official 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 73.6 Private creditors Interest (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum 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 3 Principal 29 40 44 49 47 50 52 55 57 52 Interest 15 17 19 19 19 19 18 17 16 15 Official creditors Disbursements 124 127 84 60 39 29 18 12 8 3 Principal 28 34 39 46 47 50 52 55 57 52 Interest 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 9 Private creditors 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 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 44 ALGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 940 19,365 28,149 33,645 30,892 30,678 27,997 25,272 22,581 22,800 Long-term debt (LDOD) 940 17,040 26,688 31,286 28,712 28,482 25,896 23,332 20,864 21,362 Public and publicly guaranteed 940 17,040 26,688 31,286 28,712 28,482 25,896 23,332 20,864 21,255 Private nonguaranteed 0 0 0 0 0 0 0 0 0 107 Use of IMF credit 0 0 670 2,031 2,018 2,011 1,906 1,718 1,518 1,330 Short-term debt 0 2,325 791 328 162 186 195 222 199 108 of 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 0 Memo: 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 0 Memo: 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 1,536 Long-term debt 313 3,398 7,017 2,885 1,643 1,150 1,123 1,215 1,031 1,536 IMF purchases 0 0 0 744 465 344 306 0 0 0 Principal repayments 35 2,529 6,780 2,102 2,370 3,139 3,381 2,815 2,964 2,948 Long-term debt 35 2,529 6,780 1,966 2,019 2,704 3,022 2,722 2,823 2,651 IMF repurchases 0 0 0 136 350 435 359 93 141 297 Net flows on debt 279 1,261 -811 1,597 -428 -1,622 -1,943 -1,574 -1,956 -1,504 of which short-term debt 0 392 -1,049 70 -166 24 9 27 -23 -91 Interest payments (INT) 10 1,556 2,025 2,110 2,048 1,992 1,810 1,655 1,419 1,218 Long-term debt 10 1,440 1,784 2,021 1,943 1,879 1,722 1,552 1,334 1,168 IMF charges 0 0 62 75 93 99 78 92 76 43 Short-term debt 0 116 179 13 12 15 10 10 9 7 Net transfers on debt 269 -294 -2,836 -513 -2,477 -3,614 -3,753 -3,228 -3,375 -2,722 Total debt service paid (TDS) 45 4,084 8,804 4,212 4,418 5,131 5,191 4,470 4,383 4,166 Long-term debt 45 3,968 8,564 3,987 3,962 4,583 4,744 4,274 4,157 3,819 IMF repurchases and charges 0 0 62 211 443 534 437 185 217 340 Short-term debt (interest only) 0 116 179 13 12 15 10 10 9 7 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 381 1,295 283 1,278 -82 -945 -1,343 -1,008 -554 41 Net flow of long-term debt (ex. IMF) 279 869 237 920 -377 -1,554 -1,899 -1,508 -1,792 -1,115 Foreign direct investment (net) 47 349 0 270 260 501 507 438 1,196 1,065 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 56 77 45 88 35 108 49 62 42 91 Memo: 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 -1,328 Interest on long-term debt 10 1,440 1,784 2,021 1,943 1,879 1,722 1,552 1,334 1,168 Profit remittances on FDI 0 687 152 179 174 166 176 217 210 200 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 4,742 41,147 59,955 44,285 45,649 45,357 45,305 50,745 53,165 53,684 Exports of goods, serv. & inc. (XGS) .. 14,906 13,887 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0 406 352 233 233 233 233 233 233 233 Imports 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 25,151 Current 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 42.5 TDS / 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 2.3 RES / EDT (%) 37.5 36.5 9.6 18.7 31.3 27.6 22.0 53.6 86.9 110.3 RES / 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 0.5 Concessional / EDT (%) 50.0 6.6 3.1 9.8 10.2 10.8 12.2 12.3 11.9 12.1 Multilateral / EDT (%) 1.7 1.5 7.2 12.1 12.5 14.3 15.1 16.3 17.7 16.8 45 ALGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 940 17,040 26,688 31,286 28,712 28,482 25,896 23,332 20,864 21,362 Public and publicly guaranteed 940 17,040 26,688 31,286 28,712 28,482 25,896 23,332 20,864 21,255 Official 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 2,387 Private 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 2,631 Private 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 0 107 Memo: 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 1,536 Public and publicly guaranteed 313 3,398 7,017 2,885 1,643 1,150 1,123 1,215 1,031 1,459 Official 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 74 Private 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 1,167 405 377 385 419 570 782 Private 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 77 Memo: 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 2,651 Public and publicly guaranteed 35 2,529 6,780 1,966 2,019 2,704 3,022 2,722 2,823 2,591 Official 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 96 116 145 196 222 225 233 Private 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 1,125 701 Private 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 60 Memo: 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 -1,115 Public and publicly guaranteed 279 869 237 920 -377 -1,554 -1,899 -1,508 -1,792 -1,132 Official 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 -159 Private 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 81 Private 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 17 Memo: IBRD -3 26 170 34 17 -152 -137 -114 -94 -130 IDA 0 0 0 0 0 0 0 0 0 0 46 ALGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 10 1,440 1,784 2,021 1,943 1,879 1,722 1,552 1,334 1,168 Public and publicly guaranteed 10 1,440 1,784 2,021 1,943 1,879 1,722 1,552 1,334 1,164 Official 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 86 Private 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 6 563 841 564 558 453 343 258 192 123 Private 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 5 Memo: 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 -2,283 Public and publicly guaranteed 269 -570 -1,546 -1,102 -2,320 -3,433 -3,621 -3,060 -3,126 -2,296 Official 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 -246 Private 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 -41 Private 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 12 Memo: 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 3,819 Public and publicly guaranteed 45 3,968 8,564 3,987 3,962 4,583 4,744 4,274 4,157 3,754 Official 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 13 107 114 226 217 251 305 330 320 319 Private 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 1,318 823 Private 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 65 Memo: 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 2,185 Official creditors 579 4,169 5,254 4,913 4,362 3,954 3,573 2,758 2,475 1,335 Private creditors 159 7,548 7,700 2,225 1,682 1,690 1,720 1,369 1,384 850 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 30.0 32.8 Deutsche mark 1.9 9.9 10.4 6.9 6.6 6.7 5.8 5.5 .. .. French franc 36.0 10.9 17.7 17.5 15.5 15.1 13.3 12.5 .. .. Japanese yen 0.0 13.4 15.1 12.1 11.8 12.1 15.1 14.5 12.6 13.2 Pound sterling 8.3 2.2 1.5 1.0 1.1 1.0 1.0 1.0 1.3 1.4 Swiss franc 0.2 2.7 0.8 0.5 0.5 0.4 0.4 0.5 0.7 0.9 U.S.dollars 37.0 41.5 33.5 38.7 41.5 44.8 44.5 44.7 46.4 42.8 Multiple currency 1.7 3.4 4.8 7.7 7.9 1.8 1.9 2.0 2.1 1.9 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 15.1 16.0 16.2 15.5 15.1 18.1 17.9 19.3 6.9 7.0 47 ALGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 4 10 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 30.2 Official 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 46.5 Private 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 24.5 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 927 583 246 128 68 29 16 10 4 3 Principal 2,910 2,659 2,633 2,477 2,464 2,589 2,608 1,701 1,552 331 Interest 887 788 692 591 490 384 273 174 101 51 Official creditors Disbursements 455 344 154 102 61 29 16 10 4 3 Principal 1,749 1,637 1,725 1,766 1,931 2,125 2,189 1,457 1,437 231 Interest 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 34 Private creditors Disbursements 472 239 92 27 7 0 0 0 0 0 Principal 1,161 1,022 907 712 532 464 419 243 115 100 Interest 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 48 ANGOLA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 8,594 10,548 9,950 10,786 10,300 9,410 9,296 10,134 Long-term debt (LDOD) .. .. 7,605 9,379 8,683 9,101 8,715 8,087 7,830 8,883 Public and publicly guaranteed .. .. 7,605 9,379 8,683 9,101 8,715 8,087 7,830 8,883 Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Use of IMF credit .. .. 0 0 0 0 0 0 0 0 Short-term debt .. .. 989 1,169 1,267 1,685 1,586 1,323 1,466 1,252 of 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 .. .. 152 323 359 526 605 622 755 718 Memo: 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 2,736 Memo: 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 1,063 822 Long-term debt .. .. 862 778 1,190 790 943 1,045 1,063 822 IMF purchases .. .. 0 0 0 0 0 0 0 0 Principal repayments .. .. 183 653 816 1,285 1,270 1,530 1,338 743 Long-term debt .. .. 183 653 816 1,285 1,270 1,530 1,338 743 IMF repurchases .. .. 0 0 0 0 0 0 0 0 Net flows on debt .. .. 977 76 418 -314 -530 -733 -279 -119 of which short-term debt .. .. 298 -50 44 180 -203 -248 -4 -198 Interest payments (INT) .. .. 143 342 195 247 158 175 133 120 Long-term debt .. .. 100 293 148 202 114 149 110 101 IMF charges .. .. 0 0 0 0 0 0 0 0 Short-term debt .. .. 43 49 46 45 45 26 22 19 Net transfers on debt .. .. 834 -266 224 -562 -689 -909 -411 -239 Total debt service paid (TDS) .. .. 326 994 1,011 1,532 1,428 1,705 1,471 863 Long-term debt .. .. 283 945 965 1,487 1,384 1,680 1,448 844 IMF repurchases and charges .. .. 0 0 0 0 0 0 0 0 Short-term debt (interest only) .. .. 43 49 46 45 45 26 22 19 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 536 582 1,028 836 2,406 599 2,084 1,721 Net flow of long-term debt (ex. IMF) .. .. 679 125 374 -494 -327 -485 -275 79 Foreign direct investment (net) .. .. -335 181 412 1,114 2,472 879 2,146 1,312 Portfolio equity flows .. .. 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. 192 276 242 216 261 206 213 330 Memo: 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 1,047 619 Interest on long-term debt .. .. 100 293 148 202 114 149 110 101 Profit remittances on FDI .. .. 314 536 559 378 653 929 927 1,000 Memo: official net transfers .. .. 283 270 208 -152 -113 -64 -117 290 private net transfers .. .. -161 -518 112 408 1,752 -414 1,164 329 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 8,214 5,882 6,413 5,230 4,655 7,178 7,910 9,715 Exports of goods, serv. & inc. (XGS) .. .. 4,003 5,406 5,257 3,699 5,334 8,222 6,760 8,592 Worker remit. & comp. of employees .. .. 0 5 0 0 0 0 0 0 Imports of goods & services (MGS) .. .. 4,161 5,980 6,236 5,718 7,100 7,454 8,281 9,346 International reserves (RES) .. .. .. 552 396 203 496 1,198 732 376 Current account balance .. .. -236 3,266 -884 -1,867 -1,710 796 -1,431 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 214.7 195.1 189.3 291.6 193.1 114.4 137.5 118.0 EDT / GNI (%) .. .. 104.6 179.3 155.2 206.2 221.3 131.1 117.5 104.3 TDS / XGS (%) .. .. 8.1 18.4 19.2 41.4 26.8 20.7 21.8 10.0 INT / XGS (%) .. .. 3.6 6.3 3.7 6.7 3.0 2.1 2.0 1.4 INT / GNI (%) .. .. 1.7 5.8 3.0 4.7 3.4 2.4 1.7 1.2 RES / EDT (%) .. .. .. 5.2 4.0 1.9 4.8 12.7 7.9 3.7 RES / MGS (months) .. .. .. 1.1 0.8 0.4 0.8 1.9 1.1 0.5 Short-term / EDT (%) .. .. 11.5 11.1 12.7 15.6 15.4 14.1 15.8 12.4 Concessional / EDT (%) .. .. 13.9 20.4 22.2 22.1 19.5 19.0 17.0 16.4 Multilateral / EDT (%) .. .. 0.7 2.1 2.3 2.6 3.0 3.1 3.0 3.1 49 ANGOLA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 7,605 9,379 8,683 9,101 8,715 8,087 7,830 8,883 Public and publicly guaranteed .. .. 7,605 9,379 8,683 9,101 8,715 8,087 7,830 8,883 Official 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 1,366 Private 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 2,898 Private 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 0 Memo: 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 1,063 822 Public and publicly guaranteed .. .. 862 778 1,190 790 943 1,045 1,063 822 Official 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 1 Private 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 1 Private 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 0 Memo: 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 1,338 743 Public and publicly guaranteed .. .. 183 653 816 1,285 1,270 1,530 1,338 743 Official 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 2 Private 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 27 Private 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 0 Memo: 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 79 Public and publicly guaranteed .. .. 679 125 374 -494 -327 -485 -275 79 Official 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 -1 Private 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 -26 Private 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 0 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 38 28 36 39 24 11 18 50 ANGOLA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 100 293 148 202 114 149 110 101 Public and publicly guaranteed .. .. 100 293 148 202 114 149 110 101 Official 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 1 Private 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 8 Private 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 0 Memo: 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 -22 Public and publicly guaranteed .. .. 579 -167 226 -697 -441 -635 -385 -22 Official 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 -2 Private 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 -34 Private 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 0 Memo: 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 1,448 844 Public and publicly guaranteed .. .. 283 945 965 1,487 1,384 1,680 1,448 844 Official 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 2 Private 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 35 Private 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 0 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 1 1 1 1 2 2 4 UNDISBURSED DEBT .. .. 1,351 713 779 562 365 315 129 113 Official creditors .. .. 488 344 320 246 164 155 115 100 Private creditors .. .. 863 369 459 316 200 160 14 13 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 7.2 7.5 Deutsche 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 0.4 Pound sterling .. .. 1.4 1.0 1.0 1.0 1.0 1.0 1.0 0.9 Swiss franc .. .. 0.7 0.1 0.1 0.1 0.1 0.1 0.1 0.0 U.S.dollars .. .. 80.7 86.9 87.4 85.8 86.2 86.3 86.8 86.9 Multiple currency .. .. 0.5 0.9 0.9 0.9 0.9 0.6 0.4 0.4 Special drawing rights .. .. 0.0 0.7 0.9 1.1 1.4 1.7 1.7 1.6 All other currencies .. .. 12.5 5.7 5.2 6.3 5.9 5.9 2.4 2.2 51 ANGOLA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 2 Debt forgiven .. .. 0 3,746 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 3 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 14.2 Official 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 83.0 Private 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 13.2 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 21 12 8 5 3 2 2 1 0 0 Principal 1,128 1,023 771 539 311 252 240 237 100 91 Interest 208 155 111 79 61 50 41 33 25 21 Official creditors Disbursements 18 11 7 5 3 2 2 1 0 0 Principal 408 137 135 131 122 121 114 113 85 82 Interest 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 2 Private creditors Disbursements 3 1 0 0 0 0 0 0 0 0 Principal 720 886 636 408 189 131 126 125 15 9 Interest 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 52 ARGENTINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5,810 27,157 62,233 111,378 128,411 141,549 145,294 145,879 136,729 132,314 Long-term debt (LDOD) 5,171 16,774 48,676 81,588 90,555 105,151 111,401 112,508 102,753 103,140 Public and publicly guaranteed 1,880 10,181 46,876 62,519 67,144 77,285 84,081 86,599 71,125 74,661 Private nonguaranteed 3,291 6,593 1,800 19,068 23,411 27,865 27,319 25,909 31,628 28,479 Use of IMF credit 0 0 3,083 6,293 5,868 5,442 4,478 5,056 13,976 14,340 Short-term debt 639 10,383 10,473 23,497 31,988 30,956 29,415 28,315 20,000 14,835 of 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 5,047 Memo: 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 8,300 Memo: 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 1,828 Long-term debt 907 4,708 1,150 17,894 19,097 25,289 23,322 19,032 6,208 1,828 IMF purchases 0 0 437 796 442 0 0 2,094 10,399 0 Principal repayments 772 1,853 3,443 6,781 10,889 12,549 15,455 15,733 12,987 3,260 Long-term debt 772 1,853 2,745 6,350 10,410 11,892 14,631 14,453 11,806 2,517 IMF repurchases 0 0 697 431 479 657 824 1,280 1,181 743 Net flows on debt 135 6,327 -1,856 14,052 17,141 11,708 6,326 4,293 -4,695 -1,816 of which short-term debt 0 3,472 0 2,143 8,491 -1,032 -1,541 -1,100 -8,315 -383 Interest payments (INT) 338 2,329 2,716 6,183 7,332 8,937 10,226 11,612 11,025 2,565 Long-term debt 338 1,337 2,208 4,679 5,724 7,099 8,467 9,686 9,573 1,696 IMF charges 0 0 277 270 276 264 197 195 416 677 Short-term debt 0 992 231 1,233 1,332 1,574 1,562 1,732 1,036 192 Net transfers on debt -203 3,998 -4,571 7,869 9,808 2,771 -3,900 -7,319 -15,720 -4,382 Total debt service paid (TDS) 1,110 4,182 6,158 12,963 18,221 21,486 25,681 27,345 24,012 5,826 Long-term debt 1,110 3,190 4,953 11,029 16,135 18,992 23,099 24,139 21,379 4,213 IMF repurchases and charges 0 0 975 701 755 921 1,021 1,475 1,597 1,420 Short-term debt (interest only) 0 992 231 1,233 1,332 1,574 1,562 1,732 1,036 192 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 222 3,535 261 19,509 19,275 20,516 21,930 11,801 -3,487 50 Net flow of long-term debt (ex. IMF) 135 2,855 -1,595 11,544 8,687 13,397 8,691 4,579 -5,598 -690 Foreign direct investment (net) 90 678 1,836 6,949 9,160 7,291 23,988 10,418 2,166 785 Portfolio equity flows 0 0 0 991 1,391 -210 -10,773 -3,227 -81 -99 Grants (excluding technical coop.) -3 2 21 27 37 38 24 31 26 53 Memo: 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 -1,768 Interest on long-term debt 338 1,337 2,208 4,679 5,724 7,099 8,467 9,686 9,573 1,696 Profit remittances on FDI 0 605 637 2,083 2,739 2,765 2,100 3,086 1,397 122 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 30,396 76,287 135,150 266,648 286,641 291,542 276,126 276,832 260,454 95,584 Exports of goods, serv. & inc. (XGS) .. 11,202 16,654 32,863 36,456 37,306 33,986 38,595 36,314 31,834 Worker remit. & comp. of employees 0 56 0 57 57 59 53 46 42 194 Imports of goods & services (MGS) .. 15,999 13,100 40,091 49,119 52,199 46,320 47,887 40,573 22,656 International reserves (RES) 682 9,297 6,222 19,719 22,425 24,856 26,350 25,152 14,556 10,492 Current 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 (%) .. 242.4 373.7 338.9 352.2 379.4 427.5 378.0 376.5 415.6 EDT / GNI (%) 19.1 35.6 46.0 41.8 44.8 48.6 52.6 52.7 52.5 138.4 TDS / XGS (%) .. 37.3 37.0 39.4 50.0 57.6 75.6 70.9 66.1 18.3 INT / XGS (%) .. 20.8 16.3 18.8 20.1 24.0 30.1 30.1 30.4 8.1 INT / GNI (%) 1.1 3.1 2.0 2.3 2.6 3.1 3.7 4.2 4.2 2.7 RES / EDT (%) 11.7 34.2 10.0 17.7 17.5 17.6 18.1 17.2 10.6 7.9 RES / MGS (months) .. 7.0 5.7 5.9 5.5 5.7 6.8 6.3 4.3 5.6 Short-term / EDT (%) 11.0 38.2 16.8 21.1 24.9 21.9 20.2 19.4 14.6 11.2 Concessional / EDT (%) 2.9 1.3 0.8 2.2 1.8 1.6 1.4 1.2 1.0 0.9 Multilateral / EDT (%) 4.8 4.0 8.0 8.7 8.0 9.4 10.5 11.1 13.1 12.6 53 ARGENTINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5,171 16,774 48,676 81,588 90,555 105,151 111,401 112,508 102,753 103,140 Public and publicly guaranteed 1,880 10,181 46,876 62,519 67,144 77,285 84,081 86,599 71,125 74,661 Official 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 1,255 Private 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 23 Private 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 18,645 Memo: 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 1,828 Public and publicly guaranteed 482 2,839 1,129 13,024 11,868 15,289 15,373 14,550 5,981 1,828 Official 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 0 Private 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 0 Private 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 0 Memo: 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 2,517 Public and publicly guaranteed 344 1,146 2,745 3,258 6,943 6,298 5,852 8,950 7,590 2,444 Official 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 57 Private 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 6 Private 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 73 Memo: 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 -690 Public and publicly guaranteed 139 1,693 -1,616 9,766 4,926 8,991 9,522 5,600 -1,609 -617 Official 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 -57 Private 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 -6 Private 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 -73 Memo: IBRD 27 37 172 795 498 1,678 1,128 481 653 -928 IDA 0 0 0 0 0 0 0 0 0 0 54 ARGENTINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 338 1,337 2,208 4,679 5,724 7,099 8,467 9,686 9,573 1,696 Public and publicly guaranteed 121 841 2,064 3,737 4,494 5,428 6,276 7,645 8,342 1,640 Official 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 24 Private 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 2 Private 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 56 Memo: 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 -2,385 Public and publicly guaranteed 18 852 -3,680 6,029 432 3,563 3,246 -2,045 -9,950 -2,256 Official 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 -81 Private 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 -8 Private 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 -129 Memo: 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 4,213 Public and publicly guaranteed 464 1,987 4,809 6,995 11,437 11,725 12,128 16,595 15,931 4,084 Official 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 81 Private 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 8 Private 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 3,356 129 Memo: 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 6,280 Official creditors 325 1,122 1,936 5,669 6,022 8,965 7,928 5,367 6,560 5,620 Private creditors 252 1,054 418 364 412 123 1,118 364 621 660 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 30.2 34.8 Deutsche mark 15.7 9.5 10.4 15.0 13.3 14.0 10.4 8.6 .. .. French franc 1.8 1.2 1.5 1.0 0.7 0.7 0.4 0.4 .. .. Japanese yen 0.2 5.8 6.7 8.5 6.8 6.2 5.7 5.8 4.9 5.3 Pound sterling 2.9 1.6 1.1 0.4 0.8 0.7 0.6 0.5 0.4 0.4 Swiss franc 1.9 3.4 2.2 1.3 1.0 0.7 0.5 0.4 0.4 0.6 U.S.dollars 47.7 64.5 54.5 57.5 61.7 63.8 64.5 62.8 60.7 56.0 Multiple currency 17.7 10.3 19.5 11.8 10.5 4.0 3.4 3.0 3.2 2.8 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 12.0 3.6 4.1 4.7 5.2 9.8 14.5 18.5 0.1 0.1 55 ARGENTINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 99 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 28.2 Official 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 28.2 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 2,609 1,541 818 509 271 102 66 28 9 2 Principal 17,862 18,370 12,310 10,669 7,909 8,072 5,083 2,530 1,712 1,544 Interest 6,112 5,240 4,337 3,750 3,182 2,375 1,773 1,552 1,362 1,252 Official creditors Disbursements 2,078 1,517 808 509 271 102 66 28 9 2 Principal 6,306 2,634 2,470 2,235 2,282 1,974 1,558 1,374 1,104 902 Interest 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 858 705 641 582 509 429 357 292 237 194 Private creditors Disbursements 532 24 10 0 0 0 0 0 0 0 Principal 11,556 15,736 9,840 8,435 5,627 6,097 3,524 1,155 609 642 Interest 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 56 ARMENIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 521 638 804 902 961 989 1,149 Long-term debt (LDOD) .. .. .. 403 484 569 651 741 774 941 Public and publicly guaranteed .. .. .. 403 484 569 651 719 754 920 Private nonguaranteed .. .. .. 0 0 0 0 21 20 21 Use of IMF credit .. .. .. 116 132 190 201 175 173 195 Short-term debt .. .. .. 1 22 45 49 44 42 14 of 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 0 Memo: 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 0 Memo: export credits .. .. .. 2 0 0 0 0 19 21 TOTAL DEBT FLOWS Disbursements .. .. .. 195 131 164 138 131 96 115 Long-term debt .. .. .. 146 108 112 109 131 83 89 IMF purchases .. .. .. 49 23 51 29 0 13 26 Principal repayments .. .. .. 33 8 41 39 31 33 48 Long-term debt .. .. .. 33 8 40 26 15 24 30 IMF repurchases .. .. .. 0 0 1 13 16 9 18 Net flows on debt .. .. .. 163 144 146 103 89 60 44 of which short-term debt .. .. .. 0 21 23 4 -11 -2 -23 Interest payments (INT) .. .. .. 10 16 21 20 15 21 26 Long-term debt .. .. .. 7 13 15 14 9 18 24 IMF charges .. .. .. 3 3 3 3 3 2 1 Short-term debt .. .. .. 0 1 2 2 2 1 1 Net transfers on debt .. .. .. 153 128 125 83 75 39 18 Total debt service paid (TDS) .. .. .. 43 24 61 59 46 55 74 Long-term debt .. .. .. 39 20 56 40 25 42 54 IMF repurchases and charges .. .. .. 3 3 4 16 19 11 20 Short-term debt (interest only) .. .. .. 0 1 2 2 2 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 189 187 347 252 282 173 239 Net flow of long-term debt (ex. IMF) .. .. .. 113 100 72 83 116 59 59 Foreign direct investment (net) .. .. .. 18 52 221 122 104 70 111 Portfolio equity flows .. .. .. 2 1 1 0 0 1 1 Grants (excluding technical coop.) .. .. .. 56 34 54 47 61 44 69 Memo: technical coop. grants .. .. .. 85 15 26 56 94 88 123 official net resource flows .. .. .. 170 135 121 117 158 103 132 private net resource flows .. .. .. 20 52 227 136 124 70 108 NET TRANSFERS .. .. .. 179 164 312 224 251 152 207 Interest on long-term debt .. .. .. 7 13 15 14 9 18 24 Profit remittances on FDI .. .. .. 3 11 20 14 22 4 8 Memo: official net transfers .. .. .. 163 122 105 102 149 87 109 private net transfers .. .. .. 16 41 207 121 102 65 98 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 1,642 1,738 1,954 1,900 1,964 2,182 2,455 Exports of goods, serv. & inc. (XGS) .. .. .. 457 478 473 492 560 653 844 Worker remit. & comp. of employees .. .. .. 84 136 92 95 88 94 131 Imports of goods & services (MGS) .. .. .. 921 993 1,059 958 1,017 1,017 1,156 International reserves (RES) .. .. .. 168 239 336 331 331 333 440 Current account balance .. .. .. -291 -307 -418 -307 -278 -201 -148 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 113.8 133.6 169.9 183.4 171.6 151.4 136.1 EDT / GNI (%) .. .. .. 31.7 36.7 41.2 47.5 48.9 45.3 46.8 TDS / XGS (%) .. .. .. 9.3 5.0 13.0 11.9 8.2 8.4 8.8 INT / XGS (%) .. .. .. 2.2 3.4 4.4 4.0 2.6 3.2 3.1 INT / GNI (%) .. .. .. 0.6 0.9 1.1 1.0 0.7 1.0 1.1 RES / EDT (%) .. .. .. 32.3 37.5 41.8 36.7 34.4 33.7 38.3 RES / MGS (months) .. .. .. 2.2 2.9 3.8 4.1 3.9 3.9 4.6 Short-term / EDT (%) .. .. .. 0.3 3.4 5.6 5.5 4.6 4.2 1.2 Concessional / EDT (%) .. .. .. 38.8 40.5 43.2 46.6 52.4 55.6 59.2 Multilateral / EDT (%) .. .. .. 59.8 57.7 49.8 50.5 50.5 53.6 54.1 57 ARMENIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 403 484 569 651 741 774 941 Public and publicly guaranteed .. .. .. 403 484 569 651 719 754 920 Official 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 96 102 125 Private 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 11 Private 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 21 Memo: IBRD .. .. .. 10 10 10 9 8 7 8 IDA .. .. .. 174 240 293 352 388 428 530 DISBURSEMENTS .. .. .. 146 108 112 109 131 83 89 Public and publicly guaranteed .. .. .. 146 108 112 109 110 83 89 Official creditors .. .. .. 146 108 107 95 109 83 87 Multilateral .. .. .. 122 81 50 79 58 71 72 Concessional .. .. .. 88 77 48 76 56 58 70 Bilateral .. .. .. 24 27 57 16 51 12 15 Concessional .. .. .. 15 1 30 2 51 12 15 Private creditors .. .. .. 0 0 5 14 1 0 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 5 0 0 0 0 Other private .. .. .. 0 0 0 14 1 0 2 Private 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 0 Memo: IBRD .. .. .. 5 1 0 0 0 0 0 IDA .. .. .. 87 76 43 66 54 55 66 PRINCIPAL REPAYMENTS .. .. .. 33 8 40 26 15 24 30 Public and publicly guaranteed .. .. .. 33 8 40 26 15 24 30 Official creditors .. .. .. 33 8 40 26 13 24 24 Multilateral .. .. .. 10 5 30 13 8 8 22 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 23 2 10 13 5 16 2 Concessional .. .. .. 4 0 0 5 3 0 1 Private creditors .. .. .. 0 0 0 0 2 0 6 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 5 Other private .. .. .. 0 0 0 0 2 0 1 Private nonguaranteed .. .. .. 0 0 0 0 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 0 0 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 113 100 72 83 116 59 59 Public and publicly guaranteed .. .. .. 113 100 72 83 95 59 59 Official 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 14 Private 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 1 Private 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 0 Memo: IBRD .. .. .. 5 1 0 0 0 0 0 IDA .. .. .. 87 76 43 66 54 55 66 58 ARMENIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 7 13 15 14 9 18 24 Public and publicly guaranteed .. .. .. 7 13 15 14 9 17 23 Official creditors .. .. .. 7 13 15 14 9 16 23 Multilateral .. .. .. 3 10 10 7 8 8 7 Concessional .. .. .. 1 1 2 2 3 3 4 Bilateral .. .. .. 4 3 6 7 1 8 16 Concessional .. .. .. 0 0 0 1 1 1 1 Private creditors .. .. .. 0 0 0 0 0 1 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 1 0 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 0 0 0 0 1 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 1 1 Memo: IBRD .. .. .. 0 1 1 1 0 0 0 IDA .. .. .. 1 1 2 2 3 3 3 NET TRANSFERS ON DEBT .. .. .. 107 88 57 69 107 41 35 Public and publicly guaranteed .. .. .. 107 88 57 69 85 42 36 Official 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 13 Private 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 1 Private 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 -1 Memo: IBRD .. .. .. 5 0 -1 -1 -1 -1 -1 IDA .. .. .. 86 75 41 64 52 52 63 DEBT SERVICE (LTDS) .. .. .. 39 20 56 40 25 42 54 Public and publicly guaranteed .. .. .. 39 20 56 40 25 41 53 Official creditors .. .. .. 39 20 55 40 22 40 46 Multilateral .. .. .. 13 15 40 20 16 16 29 Concessional .. .. .. 1 1 2 2 3 3 4 Bilateral .. .. .. 26 5 15 20 6 24 18 Concessional .. .. .. 4 0 1 6 4 1 2 Private creditors .. .. .. 0 0 0 0 3 1 6 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 1 5 Other private .. .. .. 0 0 0 0 2 0 1 Private nonguaranteed .. .. .. 0 0 0 0 0 1 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 1 1 Memo: IBRD .. .. .. 0 1 1 1 1 1 1 IDA .. .. .. 1 1 2 2 3 3 3 UNDISBURSED DEBT .. .. .. 118 196 297 290 227 243 166 Official creditors .. .. .. 118 191 267 264 212 226 166 Private creditors .. .. .. 0 5 30 26 16 17 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.1 5.1 Deutsche mark .. .. .. 0.0 0.0 0.0 0.0 0.4 .. .. French franc .. .. .. 0.3 0.5 0.5 0.4 0.3 .. .. Japanese yen .. .. .. 0.0 0.0 0.0 0.0 6.1 5.2 4.8 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 75.7 86.0 91.3 92.5 87.6 87.7 88.4 Multiple currency .. .. .. 2.4 2.0 1.7 1.4 1.2 1.0 0.8 Special drawing rights .. .. .. 0.3 0.4 0.7 1.1 1.0 0.9 0.8 All other currencies .. .. .. 21.2 11.0 5.8 4.6 3.4 0.0 0.0 59 ARMENIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 74 31 0 14 0 69 Debt stock rescheduled .. .. .. 0 74 31 0 0 0 10 Principal rescheduled .. .. .. 0 0 0 0 14 0 0 Official .. .. .. 0 0 0 0 14 0 0 Private .. .. .. 0 0 0 0 0 0 0 Interest rescheduled .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 0 2 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 1.8 2.1 1.4 0.8 0.8 0.8 0.8 Maturity (years) .. .. .. 33.7 28.7 26.5 35.4 35.6 35.7 38.0 Grace period (years) .. .. .. 9.1 8.4 8.4 9.8 10.3 9.4 10.3 Grant element (%) .. .. .. 68.6 62.7 62.8 77.5 79.1 74.3 80.0 Official creditors Interest (%) .. .. .. 1.8 2.0 1.7 0.9 0.8 0.7 0.8 Maturity (years) .. .. .. 33.7 29.3 29.8 37.3 35.6 36.1 38.0 Grace period (years) .. .. .. 9.1 8.4 8.8 10.1 10.3 9.4 10.3 Grant element (%) .. .. .. 68.6 63.9 66.3 78.6 79.1 75.0 80.0 Private creditors Interest (%) .. .. .. 0.0 6.0 0.0 0.0 0.0 10.0 0.0 Maturity (years) .. .. .. 0.0 5.5 5.4 17.0 0.0 1.0 0.0 Grace period (years) .. .. .. 0.0 5.5 5.4 7.0 0.0 1.0 0.0 Grant element (%) .. .. .. 0.0 16.2 40.3 66.8 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 79 195 223 105 71 110 15 Official creditors .. .. .. 79 190 193 95 71 109 15 Private creditors .. .. .. 0 5 30 10 0 1 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 42 33 26 22 15 11 9 3 2 2 Principal 46 52 52 57 41 24 22 24 24 25 Interest 15 14 12 10 8 8 7 7 6 6 Official creditors Disbursements 42 33 26 22 15 11 9 3 2 2 Principal 34 48 48 53 38 20 22 24 24 25 Interest 14 13 12 10 8 8 7 7 6 6 Bilateral creditors Disbursements 11 6 2 1 0 0 0 0 0 0 Principal 25 39 36 38 23 9 8 7 5 5 Interest 9 8 6 5 3 2 2 2 2 1 Multilateral creditors Disbursements 31 28 23 21 15 11 9 3 2 2 Principal 9 9 11 15 14 11 15 17 19 20 Interest 5 5 5 5 5 5 5 5 5 5 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 12 4 4 4 4 4 0 0 0 0 Interest 1 1 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 12 4 4 4 4 4 0 0 0 0 Interest 1 1 0 0 0 0 0 0 0 0 60 AZERBAIJAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 438 506 702 1,039 1,267 1,260 1,398 Long-term debt (LDOD) .. .. .. 248 236 380 603 775 862 1,037 Public and publicly guaranteed .. .. .. 248 236 307 495 676 767 964 Private nonguaranteed .. .. .. 0 0 72 108 99 95 72 Use of IMF credit .. .. .. 175 267 321 407 336 295 279 Short-term debt .. .. .. 15 4 1 29 156 103 82 of 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 0 Memo: 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 0 Memo: export credits .. .. .. 0 18 64 159 348 270 163 TOTAL DEBT FLOWS Disbursements .. .. .. 125 196 179 384 277 187 220 Long-term debt .. .. .. 47 91 137 274 277 177 210 IMF purchases .. .. .. 78 105 41 110 0 10 10 Principal repayments .. .. .. 0 58 3 58 123 93 159 Long-term debt .. .. .. 0 58 3 42 71 53 110 IMF repurchases .. .. .. 0 0 0 16 51 39 49 Net flows on debt .. .. .. 130 129 173 354 282 41 41 of which short-term debt .. .. .. 5 -9 -3 28 127 -53 -20 Interest payments (INT) .. .. .. 10 20 21 28 58 39 28 Long-term debt .. .. .. 4 12 11 15 39 24 19 IMF charges .. .. .. 5 8 10 11 14 10 6 Short-term debt .. .. .. 1 0 0 1 5 5 4 Net transfers on debt .. .. .. 120 109 152 326 224 2 13 Total debt service paid (TDS) .. .. .. 10 78 24 85 181 132 187 Long-term debt .. .. .. 4 69 14 56 110 77 128 IMF repurchases and charges .. .. .. 5 8 10 28 65 50 55 Short-term debt (interest only) .. .. .. 1 0 0 1 5 5 4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 716 1,184 1,194 797 386 398 1,555 Net flow of long-term debt (ex. IMF) .. .. .. 47 34 135 233 206 123 100 Foreign direct investment (net) .. .. .. 627 1,115 1,023 510 130 227 1,392 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 43 35 36 54 50 48 63 Memo: 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 1,181 Interest on long-term debt .. .. .. 4 12 11 15 39 24 19 Profit remittances on FDI .. .. .. 0 7 8 2 317 329 356 Memo: official net transfers .. .. .. 85 49 96 183 163 120 232 private net transfers .. .. .. 627 1,116 1,078 597 -133 -75 949 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 3,115 3,953 4,433 4,536 4,977 5,375 5,705 Exports of goods, serv. & inc. (XGS) .. .. .. 808 1,173 1,048 1,348 2,231 2,514 2,867 Worker remit. & comp. of employees .. .. .. 0 0 0 55 57 104 163 Imports of goods & services (MGS) .. .. .. 1,806 2,133 2,476 1,975 2,415 2,539 3,543 International reserves (RES) .. .. .. 211 466 447 673 680 897 722 Current account balance .. .. .. -931 -916 -1,365 -600 -168 -52 -768 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 54.2 43.2 67.0 77.1 56.8 50.1 48.8 EDT / GNI (%) .. .. .. 14.1 12.8 15.8 22.9 25.5 23.4 24.5 TDS / XGS (%) .. .. .. 1.2 6.6 2.3 6.3 8.1 5.3 6.5 INT / XGS (%) .. .. .. 1.2 1.7 2.0 2.1 2.6 1.6 1.0 INT / GNI (%) .. .. .. 0.3 0.5 0.5 0.6 1.2 0.7 0.5 RES / EDT (%) .. .. .. 48.2 92.0 63.7 64.7 53.6 71.2 51.6 RES / MGS (months) .. .. .. 1.4 2.6 2.2 4.1 3.4 4.2 2.4 Short-term / EDT (%) .. .. .. 3.5 0.8 0.2 2.8 12.3 8.2 5.9 Concessional / EDT (%) .. .. .. 14.7 23.0 22.5 28.4 30.6 35.6 48.5 Multilateral / EDT (%) .. .. .. 31.4 30.0 28.4 27.3 25.2 27.1 31.0 61 AZERBAIJAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 248 236 380 603 775 862 1,037 Public and publicly guaranteed .. .. .. 248 236 307 495 676 767 964 Official 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 89 160 200 347 Private 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 36 Private 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 72 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 64 116 141 199 216 235 314 DISBURSEMENTS .. .. .. 47 91 137 274 277 177 210 Public and publicly guaranteed .. .. .. 47 91 68 224 272 170 208 Official creditors .. .. .. 47 83 68 169 208 108 208 Multilateral .. .. .. 44 82 42 94 55 41 79 Concessional .. .. .. 36 55 24 64 32 32 60 Bilateral .. .. .. 3 1 26 75 153 67 129 Concessional .. .. .. 0 1 11 70 85 67 129 Private creditors .. .. .. 0 8 0 55 64 61 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 28 38 47 0 Other private .. .. .. 0 8 0 27 26 14 0 Private nonguaranteed .. .. .. 0 0 69 50 6 7 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 69 50 6 7 2 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 36 55 21 60 27 28 57 PRINCIPAL REPAYMENTS .. .. .. 0 58 3 42 71 53 110 Public and publicly guaranteed .. .. .. 0 58 3 41 64 44 76 Official creditors .. .. .. 0 58 0 32 62 21 29 Multilateral .. .. .. 0 58 0 7 8 10 11 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 25 53 11 18 Concessional .. .. .. 0 0 0 0 0 4 9 Private creditors .. .. .. 0 0 3 8 2 23 47 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 12 32 Other private .. .. .. 0 0 3 8 2 11 14 Private nonguaranteed .. .. .. 0 0 0 1 7 10 34 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 1 7 10 34 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 47 34 135 233 206 123 100 Public and publicly guaranteed .. .. .. 47 34 65 184 208 126 132 Official 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 64 120 Private 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 -14 Private 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 -32 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 36 55 21 60 27 28 57 62 AZERBAIJAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 4 12 11 15 39 24 19 Public and publicly guaranteed .. .. .. 4 12 9 9 34 19 15 Official creditors .. .. .. 4 12 8 8 33 15 10 Multilateral .. .. .. 0 2 2 3 7 8 6 Concessional .. .. .. 0 0 1 1 2 2 2 Bilateral .. .. .. 4 10 6 5 26 8 5 Concessional .. .. .. 0 0 0 1 24 2 3 Private creditors .. .. .. 0 0 1 1 1 4 5 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 1 4 Other private .. .. .. 0 0 1 1 1 3 1 Private nonguaranteed .. .. .. 0 0 2 6 5 5 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 2 6 5 5 3 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 1 1 2 2 2 NET TRANSFERS ON DEBT .. .. .. 42 22 123 218 167 100 82 Public and publicly guaranteed .. .. .. 42 22 56 174 174 107 117 Official 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 61 117 Private 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 -16 Private 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 -35 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 35 55 20 59 26 26 55 DEBT SERVICE (LTDS) .. .. .. 4 69 14 56 110 77 128 Public and publicly guaranteed .. .. .. 4 69 11 50 98 63 91 Official creditors .. .. .. 4 69 8 40 95 36 39 Multilateral .. .. .. 0 60 2 10 15 17 16 Concessional .. .. .. 0 0 1 1 2 2 3 Bilateral .. .. .. 4 10 6 30 79 19 23 Concessional .. .. .. 0 0 0 1 24 6 11 Private creditors .. .. .. 0 0 4 10 3 26 52 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 13 36 Other private .. .. .. 0 0 4 9 3 14 16 Private nonguaranteed .. .. .. 0 0 2 7 12 15 37 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 2 7 12 15 37 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 1 1 2 2 2 UNDISBURSED DEBT .. .. .. 227 296 643 723 615 457 352 Official creditors .. .. .. 227 271 548 689 553 457 352 Private creditors .. .. .. 0 24 95 34 63 0 0 Memorandum items Concessional LDOD .. .. .. 64 116 158 295 387 449 678 Variable rate LDOD .. .. .. 184 119 222 295 371 383 325 Public sector LDOD .. .. .. 248 236 307 495 676 767 964 Private sector LDOD .. .. .. 0 0 72 108 99 95 72 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 3.3 3.0 Deutsche 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 33.3 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 3.8 7.1 10.9 7.8 U.S.dollars .. .. .. 60.0 99.6 94.5 74.4 64.0 58.5 52.5 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 0.0 0.0 0.0 40.0 0.0 1.2 1.4 3.5 2.9 3.5 63 AZERBAIJAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 0 0 0 0 Debt stock rescheduled .. .. .. 0 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 .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 36 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 2 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 2.4 4.0 2.7 1.7 6.0 1.4 0.8 Maturity (years) .. .. .. 27.9 20.9 26.7 34.8 16.1 33.4 34.8 Grace period (years) .. .. .. 7.8 6.2 7.1 8.9 3.0 9.9 10.3 Grant element (%) .. .. .. 59.5 44.4 56.3 70.0 25.8 72.8 78.8 Official creditors Interest (%) .. .. .. 2.4 3.1 1.4 1.7 4.2 1.4 0.8 Maturity (years) .. .. .. 27.9 24.1 31.5 34.8 22.6 33.4 34.8 Grace period (years) .. .. .. 7.8 7.2 8.1 8.9 4.8 9.9 10.3 Grant element (%) .. .. .. 59.5 52.6 67.9 70.0 42.0 72.8 78.8 Private creditors Interest (%) .. .. .. 0.0 8.0 8.8 0.0 8.4 0.0 0.0 Maturity (years) .. .. .. 0.0 5.1 4.8 0.0 7.5 0.0 0.0 Grace period (years) .. .. .. 0.0 1.3 2.3 0.0 0.7 0.0 0.0 Grant element (%) .. .. .. 0.0 4.3 2.7 0.0 4.4 0.0 0.0 Memorandum items Commitments .. .. .. 41 189 375 272 216 59 69 Official creditors .. .. .. 41 157 308 272 123 59 69 Private creditors .. .. .. 0 32 67 0 93 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 126 70 49 32 22 18 11 7 5 2 Principal 118 72 61 56 37 45 48 51 42 35 Interest 18 15 13 12 11 10 9 8 8 7 Official creditors Disbursements 126 70 49 32 22 18 11 7 5 2 Principal 34 34 31 33 35 42 46 48 39 34 Interest 11 11 11 11 10 10 9 8 7 7 Bilateral creditors Disbursements 44 28 17 9 3 2 0 0 0 0 Principal 20 20 15 15 15 21 24 27 23 16 Interest 5 5 5 4 4 4 4 3 3 3 Multilateral creditors Disbursements 82 42 32 24 19 16 11 7 5 2 Principal 14 14 16 18 20 22 22 21 16 18 Interest 6 6 6 6 6 6 5 5 5 4 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 84 38 30 23 3 3 3 3 3 1 Interest 7 4 2 1 1 1 0 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 58 21 2 0 0 0 0 0 0 0 Interest 3 1 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 26 17 28 23 3 3 3 3 3 1 Interest 4 3 2 1 1 1 0 0 0 0 64 BANGLADESH (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 3,918 12,439 15,337 14,421 15,667 16,570 15,682 15,236 17,037 Long-term debt (LDOD) .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445 Public and publicly guaranteed .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445 Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Use of IMF credit .. 424 626 516 372 422 318 216 149 71 Short-term debt .. 212 156 163 175 150 254 295 315 521 of 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 0 Memo: 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 0 Memo: export credits .. 0 329 437 430 359 295 295 253 274 TOTAL DEBT FLOWS Disbursements .. 858 1,273 898 628 846 803 889 1,081 767 Long-term debt .. 631 1,213 898 628 711 803 889 1,081 767 IMF purchases .. 227 60 0 0 134 0 0 0 0 Principal repayments .. 168 548 465 508 472 524 599 492 551 Long-term debt .. 34 344 380 394 371 431 513 432 463 IMF repurchases .. 134 204 86 115 101 93 86 60 88 Net flows on debt .. 792 813 411 132 348 383 331 588 417 of which short-term debt .. 102 88 -21 12 -25 105 41 -1 200 Interest payments (INT) .. 73 201 207 182 172 194 196 179 172 Long-term debt .. 44 151 194 171 162 173 171 162 161 IMF charges .. 13 40 3 2 2 6 7 6 3 Short-term debt .. 16 9 10 9 8 14 17 11 7 Net transfers on debt .. 719 612 204 -50 177 190 136 409 245 Total debt service paid (TDS) .. 241 749 672 690 644 718 794 671 722 Long-term debt .. 78 495 574 564 532 605 684 594 624 IMF repurchases and charges .. 147 245 88 117 103 99 93 66 91 Short-term debt (interest only) .. 16 9 10 9 8 14 17 11 7 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 1,607 1,644 1,010 943 1,183 1,225 1,251 1,326 893 Net flow of long-term debt (ex. IMF) .. 597 869 518 234 340 372 377 648 305 Foreign direct investment (net) .. 9 3 14 139 190 180 280 79 47 Portfolio equity flows .. 0 0 -117 -10 -4 -1 1 -4 0 Grants (excluding technical coop.) .. 1,001 772 596 579 657 675 592 603 541 Memo: 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 1,493 798 746 981 970 930 990 525 Interest on long-term debt .. 44 151 194 171 162 173 171 162 161 Profit remittances on FDI .. 0 0 19 27 40 82 149 175 206 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 17,609 30,757 41,877 43,688 45,523 47,542 48,915 48,635 49,746 Exports of goods, serv. & inc. (XGS) .. 1,420 2,907 6,088 7,140 7,556 8,127 9,251 9,008 9,876 Worker remit. & comp. of employees .. 339 779 1,345 1,527 1,606 1,807 1,968 2,105 2,857 Imports of goods & services (MGS) .. 2,904 4,140 7,644 8,032 8,159 9,191 10,018 10,017 9,529 International reserves (RES) .. 331 660 1,869 1,611 1,936 1,634 1,516 1,306 1,722 Current account balance .. -702 -398 -991 -286 -35 -364 -306 -535 742 4. DEBT INDICATORS EDT / XGS (%) .. 276.0 427.9 251.9 202.0 207.3 203.9 169.5 169.1 172.5 EDT / GNI (%) .. 22.3 40.4 36.6 33.0 34.4 34.9 32.1 31.3 34.2 TDS / XGS (%) .. 17.0 25.8 11.0 9.7 8.5 8.8 8.6 7.4 7.3 INT / XGS (%) .. 5.1 6.9 3.4 2.5 2.3 2.4 2.1 2.0 1.7 INT / GNI (%) .. 0.4 0.7 0.5 0.4 0.4 0.4 0.4 0.4 0.3 RES / EDT (%) .. 8.5 5.3 12.2 11.2 12.4 9.9 9.7 8.6 10.1 RES / MGS (months) .. 1.4 1.9 2.9 2.4 2.8 2.1 1.8 1.6 2.2 Short-term / EDT (%) .. 5.4 1.3 1.1 1.2 1.0 1.5 1.9 2.1 3.1 Concessional / EDT (%) .. 80.4 90.7 93.8 94.5 94.9 94.9 94.8 93.5 92.8 Multilateral / EDT (%) .. 31.9 51.8 63.6 66.0 67.0 67.4 70.1 70.4 71.2 65 BANGLADESH (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445 Public and publicly guaranteed .. 3,282 11,657 14,658 13,874 15,096 15,998 15,171 14,773 16,445 Official 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 3,757 Private 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 .. 56 202 218 193 177 210 232 448 536 Private 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 0 Memo: 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 1,081 767 Public and publicly guaranteed .. 631 1,213 898 628 711 803 889 1,081 767 Official 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 65 172 294 131 Private 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 95 Private 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 0 Memo: IBRD .. 0 0 0 0 0 0 0 0 0 IDA .. 156 464 279 301 350 413 357 312 301 PRINCIPAL REPAYMENTS .. 34 344 380 394 371 431 513 432 463 Public and publicly guaranteed .. 34 344 380 394 371 431 513 432 463 Official 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 .. 23 239 228 239 209 250 314 234 248 Private 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 10 Private 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 0 Memo: IBRD .. 0 2 5 4 4 5 5 5 6 IDA .. 0 13 50 55 61 73 82 94 106 NET FLOWS ON DEBT .. 597 869 518 234 340 372 377 648 305 Public and publicly guaranteed .. 597 869 518 234 340 372 377 648 305 Official 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 -117 Private 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 85 Private 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 0 Memo: IBRD .. 0 -2 -5 -4 -4 -5 -5 -5 -6 IDA .. 156 451 229 246 289 339 275 218 195 66 BANGLADESH (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 44 151 194 171 162 173 171 162 161 Public and publicly guaranteed .. 44 151 194 171 162 173 171 162 161 Official 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 58 Private 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 2 Private 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 0 Memo: 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 64 179 199 205 487 144 Public and publicly guaranteed .. 553 718 324 64 179 199 205 487 144 Official 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 -175 Private 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 83 Private 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 0 Memo: IBRD .. -3 -5 -8 -7 -7 -7 -7 -7 -7 IDA .. 150 424 187 204 246 293 228 170 145 DEBT SERVICE (LTDS) .. 78 495 574 564 532 605 684 594 624 Public and publicly guaranteed .. 78 495 574 564 532 605 684 594 624 Official 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 .. 53 323 325 316 277 322 381 294 307 Private 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 12 Private 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 0 Memo: 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 3,433 Official creditors .. 2,139 4,128 3,195 3,082 3,597 3,855 3,354 2,940 2,978 Private creditors .. 50 190 309 309 91 392 473 539 455 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 0.5 0.5 Deutsche 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 17.4 Pound sterling .. 18.6 5.0 3.5 3.5 3.1 2.8 3.0 3.0 2.6 Swiss franc .. 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 38.1 48.1 42.4 43.3 42.9 43.0 44.7 47.7 48.1 Multiple currency .. 8.1 15.4 23.7 23.7 24.4 24.8 24.5 23.0 24.0 Special drawing rights .. 0.2 1.0 3.9 4.7 4.9 4.6 4.8 4.9 4.8 All other currencies .. 9.9 4.4 2.2 2.2 2.0 2.0 2.3 2.6 2.5 67 BANGLADESH (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 70.8 Official 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 71.5 Private 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 37.2 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 985 780 539 405 272 178 107 56 31 9 Principal 621 680 714 698 721 763 759 767 769 767 Interest 184 181 183 188 185 179 170 160 150 139 Official creditors Disbursements 740 647 492 388 269 178 107 56 31 9 Principal 514 558 580 595 637 683 694 701 703 703 Interest 159 157 157 167 167 164 158 150 142 133 Bilateral creditors Disbursements 189 138 85 50 26 11 4 1 0 0 Principal 289 302 296 290 288 286 262 246 232 217 Interest 57 54 50 46 42 38 33 30 26 22 Multilateral creditors Disbursements 551 508 407 338 243 167 102 55 30 9 Principal 225 256 284 306 348 396 431 455 472 487 Interest 102 103 107 120 125 126 124 121 116 111 Private creditors Disbursements 245 133 47 16 3 0 0 0 0 0 Principal 107 122 133 102 84 81 66 66 66 63 Interest 25 24 26 21 18 15 12 10 8 5 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3 3 3 3 3 3 3 3 3 3 Interest 2 1 1 1 1 1 1 0 0 0 Other private Disbursements 245 133 47 16 3 0 0 0 0 0 Principal 104 119 130 99 81 78 63 63 63 61 Interest 24 22 25 20 17 14 11 9 7 5 68 BELARUS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,105.2 1,171.2 1,153.6 983.2 847.6 870.3 907.6 Long-term debt (LDOD) .. .. .. 729.7 682.5 798.1 710.4 690.1 643.7 710.6 Public and publicly guaranteed .. .. .. 728.9 681.4 796.4 709.1 688.9 642.2 709.5 Private nonguaranteed .. .. .. 0.8 1.1 1.8 1.3 1.2 1.5 1.1 Use of IMF credit .. .. .. 273.5 256.6 242.6 178.1 114.2 80.8 55.6 Short-term debt .. .. .. 102.0 232.0 112.9 94.7 43.3 145.8 141.4 of 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 0.9 Memo: 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 1.0 Memo: 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 64.1 143.5 114.1 137.3 Long-term debt .. .. .. 93.0 85.1 145.7 64.1 143.5 114.1 137.3 IMF purchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. .. 59.0 69.5 85.2 148.9 190.4 173.5 156.0 Long-term debt .. .. .. 59.0 69.5 60.8 90.8 134.9 143.7 125.8 IMF repurchases .. .. .. 0.0 0.0 24.3 58.1 55.6 29.7 30.3 Net flows on debt .. .. .. 35.1 152.3 -61.9 -105.7 -103.1 52.2 -19.3 of which short-term debt .. .. .. 1.2 136.7 -122.5 -20.8 -56.2 111.6 -0.6 Interest payments (INT) .. .. .. 53.9 73.3 61.4 53.3 47.6 56.2 41.4 Long-term debt .. .. .. 37.5 52.4 40.5 40.4 37.7 46.0 33.8 IMF charges .. .. .. 12.3 12.0 11.7 8.6 7.4 4.5 2.0 Short-term debt .. .. .. 4.2 8.8 9.2 4.3 2.5 5.6 5.6 Net transfers on debt .. .. .. -18.8 79.0 -123.2 -159.0 -150.7 -4.0 -60.6 Total debt service paid (TDS) .. .. .. 112.9 142.8 146.5 202.2 238.0 229.6 197.4 Long-term debt .. .. .. 96.5 122.0 101.3 131.2 172.5 189.7 159.6 IMF repurchases and charges .. .. .. 12.3 12.0 36.0 66.7 63.0 34.3 32.2 Short-term debt (interest only) .. .. .. 4.2 8.8 9.2 4.3 2.5 5.6 5.6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 176.9 406.9 306.0 437.5 154.8 91.1 276.9 Net flow of long-term debt (ex. IMF) .. .. .. 34.0 15.6 84.9 -26.7 8.7 -29.6 11.5 Foreign direct investment (net) .. .. .. 104.5 351.6 203.2 444.0 118.8 95.8 247.1 Portfolio equity flows .. .. .. 0.0 0.0 2.7 0.0 0.5 2.5 0.0 Grants (excluding technical coop.) .. .. .. 38.4 39.7 15.2 20.2 26.9 22.4 18.3 Memo: 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 39.8 242.6 Interest on long-term debt .. .. .. 37.5 52.4 40.5 40.4 37.7 46.0 33.8 Profit remittances on FDI .. .. .. 0.0 7.5 18.2 0.7 4.6 5.3 0.5 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 14,772.8 14,088.5 15,256.7 12,115.6 12,752.5 12,428.2 14,263.9 Exports of goods, serv. & inc. (XGS) .. .. .. 6,794.8 7,897.8 7,155.9 6,474.1 7,681.8 8,462.9 9,309.0 Worker remit. & comp. of employees .. .. .. 93.3 46.5 53.9 62.0 13.6 16.9 16.9 Imports of goods & services (MGS) .. .. .. 7,379.4 8,806.3 8,236.3 6,718.0 8,159.6 9,051.9 9,860.1 International reserves (RES) .. .. .. 469.2 393.7 702.8 294.3 350.5 390.7 618.8 Current account balance .. .. .. -515.9 -859.2 -1,016.5 -193.7 -323.1 -434.9 -377.5 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 16.3 14.8 16.1 15.2 11.0 10.3 9.8 EDT / GNI (%) .. .. .. 7.5 8.3 7.6 8.1 6.6 7.0 6.4 TDS / XGS (%) .. .. .. 1.7 1.8 2.0 3.1 3.1 2.7 2.1 INT / XGS (%) .. .. .. 0.8 0.9 0.9 0.8 0.6 0.7 0.4 INT / GNI (%) .. .. .. 0.4 0.5 0.4 0.4 0.4 0.5 0.3 RES / EDT (%) .. .. .. 42.5 33.6 60.9 29.9 41.4 44.9 68.2 RES / MGS (months) .. .. .. 0.8 0.5 1.0 0.5 0.5 0.5 0.8 Short-term / EDT (%) .. .. .. 9.2 19.8 9.8 9.6 5.1 16.7 15.6 Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. .. .. 19.8 22.1 24.6 25.7 25.6 21.0 18.3 69 BELARUS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 729.7 682.5 798.1 710.4 690.1 643.7 710.6 Public and publicly guaranteed .. .. .. 728.9 681.4 796.4 709.1 688.9 642.2 709.5 Official 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 81.1 117.8 Private 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 .. .. .. 318.4 247.6 244.4 221.9 228.9 254.4 238.8 Private 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 1.1 Memo: 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 64.1 143.5 114.1 137.3 Public and publicly guaranteed .. .. .. 92.5 84.7 144.8 63.5 143.0 113.4 136.9 Official 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 40.3 Private 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 8.1 Private 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 0.4 Memo: 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 90.8 134.9 143.7 125.8 Public and publicly guaranteed .. .. .. 58.9 69.4 60.5 90.3 134.3 143.3 125.6 Official 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 3.6 Private 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 57.4 Private 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 0.1 Memo: 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 11.5 Public and publicly guaranteed .. .. .. 33.6 15.3 84.3 -26.8 8.7 -29.9 11.2 Official 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 36.6 Private 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 -49.2 Private 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 0.3 Memo: 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 70 BELARUS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 37.5 52.4 40.5 40.4 37.7 46.0 33.8 Public and publicly guaranteed .. .. .. 37.4 52.4 40.4 40.4 37.7 46.0 33.8 Official 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 2.2 Private 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 14.5 Private 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 0.0 Memo: 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 -22.3 Public and publicly guaranteed .. .. .. -3.9 -37.1 43.9 -67.2 -28.9 -75.9 -22.5 Official 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 34.5 Private 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 -63.7 Private 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 0.3 Memo: 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) .. .. .. 96.5 122.0 101.3 131.2 172.5 189.7 159.6 Public and publicly guaranteed .. .. .. 96.4 121.8 100.9 130.7 172.0 189.3 159.4 Official 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 5.8 Private 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 71.9 Private 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 0.1 Memo: 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 52.6 Official creditors .. .. .. 190.1 203.2 94.6 63.9 66.3 110.4 38.9 Private creditors .. .. .. 27.9 44.6 85.9 101.3 42.7 41.9 13.7 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 31.8 32.3 Deutsche mark .. .. .. 42.2 35.5 30.7 24.9 19.4 .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. .. 2.8 2.1 2.1 2.7 2.2 1.9 1.5 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.9 0.7 0.5 0.3 0.1 0.0 0.0 U.S.dollars .. .. .. 26.2 33.8 39.2 43.9 48.9 52.0 53.8 Multiple currency .. .. .. 16.6 18.2 16.9 17.3 15.3 14.2 12.4 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 11.2 9.8 10.6 10.9 14.1 0.0 0.0 71 BELARUS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.2 6.1 5.1 6.0 7.0 3.6 2.6 Maturity (years) .. .. .. 17.7 6.7 8.0 5.5 3.7 7.2 10.6 Grace period (years) .. .. .. 4.3 1.7 2.9 1.9 1.5 2.4 2.5 Grant element (%) .. .. .. 22.9 12.3 19.2 10.4 5.9 22.1 28.7 Official creditors Interest (%) .. .. .. 4.5 5.8 5.7 0.0 6.8 3.0 3.5 Maturity (years) .. .. .. 16.8 8.3 9.8 0.0 5.9 8.3 16.6 Grace period (years) .. .. .. 6.8 1.6 1.8 0.0 2.4 3.3 4.6 Grant element (%) .. .. .. 35.6 14.6 16.9 0.0 9.9 27.3 39.3 Private creditors Interest (%) .. .. .. 6.4 6.6 5.0 6.0 7.2 4.4 1.8 Maturity (years) .. .. .. 17.9 3.3 8.0 5.5 2.5 5.5 5.1 Grace period (years) .. .. .. 3.9 1.9 2.9 1.9 1.0 1.1 0.6 Grant element (%) .. .. .. 20.9 7.5 19.2 10.4 3.6 14.6 19.0 Memorandum items Commitments .. .. .. 54 125 73 69 136 158 35 Official creditors .. .. .. 8 85 0 0 49 93 17 Private creditors .. .. .. 46 40 73 69 87 65 18 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 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 0.0 Principal 125.8 152.7 142.7 147.1 98.7 66.2 35.4 16.4 14.0 11.0 Interest 33.8 24.6 19.2 14.1 9.4 6.1 4.2 3.1 2.7 2.4 Official creditors Disbursements 89.6 5.1 8.5 7.6 7.0 4.7 3.1 1.9 1.0 0.0 Principal 57.5 72.8 72.1 83.0 54.9 42.7 25.1 10.6 9.0 9.0 Interest 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 0.4 Private creditors Disbursements 47.3 8.9 3.4 1.4 0.0 0.0 0.0 0.0 0.0 0.0 Principal 68.3 79.9 70.7 64.1 43.9 23.5 10.2 5.7 5.1 2.0 Interest 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 72 BELIZE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 4.1 63.0 153.8 281.5 450.1 333.5 392.0 606.6 699.6 834.6 Long-term debt (LDOD) 4.1 47.0 147.3 250.4 268.1 282.9 341.0 556.6 648.8 789.6 Public and publicly guaranteed 4.1 47.0 136.2 250.4 268.1 282.9 341.0 556.6 648.8 789.6 Private nonguaranteed 0.0 0.0 11.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 16.0 6.1 31.1 182.0 50.5 51.0 50.0 50.8 45.0 of 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 0.0 Memo: 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 0.0 Memo: 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 96.8 218.1 158.9 227.7 Long-term debt 4.3 13.7 22.2 60.5 48.8 38.7 96.8 218.1 158.9 227.7 IMF purchases 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 12.9 27.3 25.5 25.0 24.5 41.2 47.9 138.5 Long-term debt 0.0 0.6 9.9 27.3 25.5 25.0 24.5 41.2 47.9 138.5 IMF repurchases 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt 4.3 -8.9 10.0 28.5 174.9 -117.8 72.7 176.0 111.8 83.4 of which short-term debt 0.0 -22.0 0.8 -4.7 151.5 -131.5 0.5 -1.0 0.8 -5.8 Interest payments (INT) 0.0 3.1 7.2 13.0 14.2 20.9 21.5 35.0 48.3 49.5 Long-term debt 0.0 0.9 6.6 11.1 9.4 15.1 18.6 31.6 46.0 47.8 IMF charges 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 2.2 0.4 1.9 4.9 5.8 2.8 3.4 2.3 1.7 Net transfers on debt 4.3 -11.9 2.9 15.5 160.6 -138.7 51.3 141.0 63.5 33.8 Total debt service paid (TDS) 0.0 3.6 20.1 40.3 39.7 46.0 46.0 76.1 96.3 188.0 Long-term debt 0.0 1.5 16.5 38.4 34.8 40.1 43.2 72.8 93.9 186.4 IMF repurchases and charges 0.0 0.0 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) 0.0 2.2 0.4 1.9 4.9 5.8 2.8 3.4 2.3 1.7 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 13.2 21.9 33.9 52.7 39.8 62.4 134.0 205.7 193.6 123.9 Net 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 89.2 Foreign direct investment (net) 7.1 0.0 17.2 16.6 12.0 17.7 47.4 17.7 59.9 25.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 1.8 8.8 4.4 2.9 4.5 31.1 14.4 11.0 22.7 9.7 Memo: 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 55.1 Interest on long-term debt 0.0 0.9 6.6 11.1 9.4 15.1 18.6 31.6 46.0 47.8 Profit remittances on FDI 0.0 0.0 7.5 26.2 24.1 30.2 23.2 28.4 20.0 21.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 51.5 192.8 396.1 606.7 592.2 601.9 644.3 710.0 728.7 761.6 Exports of goods, serv. & inc. (XGS) .. .. 268.9 328.6 356.5 352.8 398.8 411.2 477.1 515.3 Worker remit. & comp. of employees 0.0 0.0 18.5 17.3 22.7 23.4 21.3 21.8 18.4 15.7 Imports of goods & services (MGS) .. .. 269.2 353.2 405.4 429.2 492.2 582.3 693.7 710.2 International reserves (RES) .. 12.7 69.8 58.4 59.4 44.1 71.3 122.9 112.0 114.5 Current 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 98.3 147.5 146.6 162.0 EDT / GNI (%) 7.9 32.7 38.8 46.4 76.0 55.4 60.8 85.4 96.0 109.6 TDS / XGS (%) .. .. 7.5 12.3 11.1 13.0 11.5 18.5 20.2 36.5 INT / XGS (%) .. .. 2.7 3.9 4.0 5.9 5.4 8.5 10.1 9.6 INT / GNI (%) 0.0 1.6 1.8 2.1 2.4 3.5 3.3 4.9 6.6 6.5 RES / EDT (%) .. 20.1 45.4 20.7 13.2 13.2 18.2 20.3 16.0 13.7 RES / MGS (months) .. .. 3.1 2.0 1.8 1.2 1.7 2.5 1.9 1.9 Short-term / EDT (%) .. 25.4 4.0 11.0 40.4 15.2 13.0 8.2 7.3 5.4 Concessional / EDT (%) .. 48.7 52.6 41.7 25.0 32.6 26.1 17.9 15.1 13.3 Multilateral / EDT (%) .. 35.7 37.3 31.9 23.3 35.6 32.4 22.9 23.6 22.2 73 BELIZE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 4.1 47.0 147.3 250.4 268.1 282.9 341.0 556.6 648.8 789.6 Public and publicly guaranteed 4.1 47.0 136.2 250.4 268.1 282.9 341.0 556.6 648.8 789.6 Official 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 67.9 Private 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 21.7 Private 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 0.0 Memo: 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 96.8 218.1 158.9 227.7 Public and publicly guaranteed 4.3 13.7 17.9 60.5 48.8 38.7 96.8 218.1 158.9 227.7 Official 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 7.8 Private 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 5.9 Private 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 0.0 Memo: 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 47.9 138.5 Public and publicly guaranteed 0.0 0.6 9.0 27.3 25.5 25.0 24.5 41.2 47.9 138.5 Official 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 7.1 Private 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 9.5 Private 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 0.0 Memo: 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 89.2 Public and publicly guaranteed 4.3 13.1 8.8 33.2 23.3 13.7 72.3 177.0 111.0 89.2 Official 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 0.7 Private 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 -3.6 Private 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 0.0 Memo: 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 74 BELIZE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.0 0.9 6.6 11.1 9.4 15.1 18.6 31.6 46.0 47.8 Public and publicly guaranteed 0.0 0.9 5.6 11.1 9.4 15.1 18.6 31.6 46.0 47.8 Official 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 1.9 Private 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 1.7 Private 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 0.0 Memo: 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 41.4 Public and publicly guaranteed 4.3 12.2 3.2 22.1 14.0 -1.4 53.6 145.3 65.0 41.4 Official 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 -1.2 Private 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 -5.2 Private 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 0.0 Memo: 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 93.9 186.4 Public and publicly guaranteed 0.0 1.5 14.6 38.4 34.8 40.1 43.2 72.8 93.9 186.4 Official 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 9.1 Private 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 11.2 Private 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 0.0 Memo: 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 97.5 219.8 246.1 190.8 132.3 Official creditors 0.0 17.9 49.8 70.3 66.5 82.5 156.9 194.4 141.3 116.9 Private creditors 0.0 4.8 11.1 8.3 7.0 15.0 62.9 51.7 49.5 15.5 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.1 3.5 Deutsche mark 0.0 0.8 0.7 0.1 0.1 0.1 0.0 0.0 .. .. French franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 100.0 15.3 23.6 7.7 6.2 5.2 3.7 1.8 1.3 1.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 0.0 29.3 45.3 67.8 68.8 84.1 88.7 92.6 93.1 93.9 Multiple currency 0.0 23.5 23.4 16.1 17.2 2.8 1.8 0.8 0.5 0.3 Special drawing rights 0.0 0.0 0.5 0.5 0.4 0.3 0.2 0.1 0.1 0.0 All other currencies 0.0 31.1 6.5 7.8 7.3 7.4 5.5 4.7 1.0 1.3 75 BELIZE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt 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 0.0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 4.7 Official 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 23.4 Private 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 3.3 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 227.7 52.0 39.6 21.4 11.3 5.6 1.4 0.4 0.2 0.2 Principal 138.5 72.3 53.4 77.0 64.2 65.4 54.5 49.9 47.2 40.3 Interest 47.8 61.1 60.2 56.9 52.8 48.4 43.7 39.7 35.9 32.3 Official creditors Disbursements 34.4 43.2 34.6 19.8 11.3 5.6 1.4 0.4 0.2 0.2 Principal 21.1 25.8 22.0 22.7 25.9 26.9 25.5 24.4 22.8 21.2 Interest 11.7 14.7 15.2 15.1 14.4 13.4 12.1 10.8 9.6 8.4 Bilateral creditors Disbursements 7.8 3.1 3.7 2.2 1.1 0.6 0.3 0.2 0.2 0.1 Principal 12.1 9.2 7.6 7.0 7.0 7.0 6.7 6.1 4.9 4.2 Interest 3.5 3.5 3.4 3.2 3.0 2.7 2.5 2.2 1.9 1.7 Multilateral creditors Disbursements 26.5 40.2 30.9 17.6 10.2 5.0 1.1 0.3 0.1 0.0 Principal 9.0 16.6 14.5 15.8 18.9 19.9 18.9 18.3 17.8 17.0 Interest 8.2 11.1 11.9 11.9 11.4 10.6 9.6 8.6 7.6 6.7 Private creditors Disbursements 193.4 8.8 5.1 1.6 0.0 0.0 0.0 0.0 0.0 0.0 Principal 117.4 46.5 31.4 54.3 38.3 38.5 28.9 25.5 24.4 19.1 Interest 36.2 46.5 45.0 41.8 38.4 35.0 31.6 28.9 26.3 23.9 Commercial banks Disbursements 44.4 8.8 5.1 1.6 0.0 0.0 0.0 0.0 0.0 0.0 Principal 105.0 37.3 22.3 18.9 30.9 28.1 23.1 19.7 18.7 18.7 Interest 26.6 24.8 24.1 23.0 21.6 18.9 16.5 14.3 12.2 10.2 Other private Disbursements 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 12.4 9.2 9.1 35.4 7.5 10.4 5.8 5.8 5.8 0.4 Interest 9.6 21.6 20.9 18.8 16.7 16.1 15.1 14.6 14.1 13.7 76 BENIN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 41 424 1,292 1,593 1,627 1,651 1,687 1,602 1,672 1,843 Long-term debt (LDOD) 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690 Public and publicly guaranteed 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 16 18 99 95 94 92 84 77 73 Short-term debt 1 73 55 47 136 86 122 72 85 80 of 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 1 Memo: 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 3 Memo: 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 72 Long-term debt 2 62 120 109 51 62 73 30 113 67 IMF purchases 0 9 0 20 6 0 10 9 10 5 Principal repayments 1 6 20 27 32 35 45 51 32 37 Long-term debt 1 6 19 26 28 29 36 41 23 27 IMF repurchases 0 0 2 2 4 5 9 11 10 10 Net flows on debt 1 42 92 101 114 -24 74 -60 105 30 of which short-term debt 0 -24 -8 0 89 -50 36 -48 13 -5 Interest payments (INT) 0 14 18 18 23 26 25 19 17 26 Long-term debt 0 3 14 16 18 21 20 14 14 23 IMF charges 0 0 0 1 0 0 0 0 0 0 Short-term debt 0 11 4 2 4 5 5 4 3 3 Net transfers on debt 1 27 74 82 91 -50 49 -79 88 4 Total debt service paid (TDS) 2 20 38 46 55 61 70 70 50 63 Long-term debt 2 9 33 42 46 50 56 55 37 50 IMF repurchases and charges 0 0 2 3 5 6 9 11 10 10 Short-term debt (interest only) 0 11 4 2 4 5 5 4 3 3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 17 101 274 237 176 188 176 199 267 198 Net flow of long-term debt (ex. IMF) 1 56 102 83 22 32 37 -10 91 39 Foreign direct investment (net) 7 4 62 29 26 35 39 64 44 41 Portfolio equity flows 0 0 0 3 2 1 2 0 0 0 Grants (excluding technical coop.) 9 41 110 123 126 120 98 145 132 117 Memo: 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 96 260 219 147 155 148 182 245 167 Interest on long-term debt 0 3 14 16 18 21 20 14 14 23 Profit remittances on FDI 0 3 0 2 12 12 9 4 7 8 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 330 1,402 1,806 2,162 2,127 2,321 2,370 2,243 2,351 2,664 Exports of goods, serv. & inc. (XGS) .. 318 465 765 631 671 696 637 628 655 Worker remit. & comp. of employees 0 77 94 85 70 89 75 86 83 83 Imports of goods & services (MGS) .. 428 492 799 794 805 890 748 788 .. International reserves (RES) 16 15 69 262 253 261 400 458 578 616 Current account balance .. -36 -18 -41 -154 -133 -156 -81 -75 .. 4. DEBT INDICATORS EDT / XGS (%) .. 133.1 277.9 208.3 257.8 246.1 242.5 251.5 266.2 281.5 EDT / GNI (%) 12.6 30.2 71.5 73.7 76.5 71.1 71.2 71.4 71.1 69.2 TDS / XGS (%) .. 6.3 8.2 6.0 8.7 9.1 10.1 11.0 7.9 9.7 INT / XGS (%) .. 4.5 3.8 2.4 3.6 3.9 3.6 2.9 2.8 4.0 INT / GNI (%) 0.1 1.0 1.0 0.8 1.1 1.1 1.1 0.8 0.7 1.0 RES / EDT (%) 37.5 3.5 5.4 16.4 15.6 15.8 23.7 28.6 34.6 33.4 RES / 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 4.4 Concessional / EDT (%) 70.3 39.2 78.1 81.2 77.7 80.7 80.6 83.9 84.5 86.0 Multilateral / EDT (%) 1.0 24.5 41.6 56.6 53.5 56.5 56.7 59.3 59.2 62.1 77 BENIN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690 Public and publicly guaranteed 41 334 1,218 1,447 1,396 1,472 1,473 1,446 1,509 1,690 Official 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 82 512 415 413 429 426 414 441 458 Private 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 3 Private 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 0 Memo: 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 67 Public and publicly guaranteed 2 62 120 109 51 62 73 30 113 67 Official 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 7 Private 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 0 Private 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 0 Memo: 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 27 Public and publicly guaranteed 1 6 19 26 28 29 36 41 23 27 Official 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 9 Private 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 0 Private 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 0 Memo: 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 39 Public and publicly guaranteed 1 56 102 83 22 32 37 -10 91 39 Official 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 -2 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 55 37 16 16 43 33 44 20 78 BENIN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 3 14 16 18 21 20 14 14 23 Public and publicly guaranteed 0 3 14 16 18 21 20 14 14 23 Official 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 6 Private 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 0 Private 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 0 Memo: 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 17 Public and publicly guaranteed 1 53 88 67 4 11 17 -24 77 17 Official 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 -8 Private 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 0 Private 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 0 Memo: 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 50 Public and publicly guaranteed 2 9 33 42 46 50 56 55 37 50 Official 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 15 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 7 7 8 10 8 8 7 UNDISBURSED DEBT 15 532 414 356 322 384 392 402 353 406 Official creditors 15 154 414 356 322 384 392 402 353 405 Private creditors 0 378 0 0 0 0 0 0 0 1 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 9.0 8.9 Deutsche mark 5.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 .. .. French franc 16.7 27.2 18.7 10.1 9.2 8.5 7.2 6.6 .. .. Japanese yen 0.0 0.0 0.0 1.1 1.0 2.2 2.5 2.3 1.9 3.7 Pound sterling 0.0 0.0 0.9 0.3 0.3 0.3 0.3 0.3 0.3 0.3 Swiss franc 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 6.6 18.9 50.8 54.2 55.3 54.5 56.4 61.0 61.5 58.8 Multiple currency 0.0 6.7 7.3 14.6 14.4 14.7 14.6 14.1 12.9 12.6 Special drawing rights 0.0 0.0 1.9 2.0 1.9 1.9 1.9 1.9 1.8 1.8 All other currencies 71.5 46.9 20.2 17.4 17.7 17.7 17.0 13.6 12.6 13.9 79 BENIN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 12 130 0 0 0 53 24 0 Debt stock rescheduled .. .. 0 120 0 0 0 0 0 0 Principal rescheduled .. .. 9 0 0 0 0 37 0 0 Official .. .. 4 0 0 0 0 37 0 0 Private .. .. 5 0 0 0 0 0 0 0 Interest rescheduled .. .. 1 6 0 0 0 6 3 0 Official .. .. 0 6 0 0 0 6 3 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 122 0 1 0 0 4 10 11 Memo: interest forgiven .. .. 3 4 0 0 0 1 1 0 Debt stock reduction .. .. 0 80 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 76.9 Official 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 77.4 Private 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 20.8 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 83 93 71 53 40 27 19 9 6 2 Principal 73 73 75 82 82 84 84 86 86 89 Interest 22 22 22 21 21 20 18 17 16 15 Official creditors Disbursements 83 93 71 53 40 27 19 9 6 2 Principal 73 73 75 82 82 84 84 86 86 89 Interest 22 22 22 21 21 20 18 17 16 15 Bilateral creditors Disbursements 6 5 3 1 0 0 0 0 0 0 Principal 40 38 36 37 37 39 38 37 37 36 Interest 10 9 9 8 8 7 6 6 5 5 Multilateral creditors Disbursements 77 88 68 52 39 27 19 9 6 2 Principal 33 35 38 45 45 46 46 50 50 53 Interest 12 13 13 13 13 13 12 11 11 10 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 80 BHUTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 83.5 113.0 119.6 171.0 183.8 203.3 265.2 376.9 Long-term debt (LDOD) .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9 Public and publicly guaranteed .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 3.3 0.1 2.0 0.0 2.0 1.1 0.0 0.0 of 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 0.0 Memo: 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 0.0 Memo: 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 97.8 Long-term debt .. .. 8.4 15.2 16.8 60.3 8.3 34.8 79.5 97.8 IMF purchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 2.9 4.3 4.9 7.0 4.9 4.7 4.5 4.5 Long-term debt .. .. 2.9 4.3 4.9 7.0 4.9 4.7 4.5 4.5 IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 6.5 11.0 13.8 51.3 5.4 29.1 73.9 93.3 of which short-term debt .. .. 1.0 0.1 1.9 -2.0 2.0 -1.0 -1.1 0.0 Interest payments (INT) .. .. 2.3 2.6 2.3 2.1 2.1 1.9 1.8 1.9 Long-term debt .. .. 2.0 2.6 2.2 2.1 2.0 1.8 1.7 1.9 IMF charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 0.2 0.0 0.1 0.0 0.1 0.1 0.0 0.0 Net transfers on debt .. .. 4.2 8.4 11.5 49.1 3.3 27.2 72.1 91.4 Total debt service paid (TDS) .. .. 5.2 6.9 7.2 9.2 7.0 6.6 6.3 6.4 Long-term debt .. .. 5.0 6.9 7.1 9.2 6.9 6.5 6.3 6.4 IMF repurchases and charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. .. 0.2 0.0 0.1 0.0 0.1 0.1 0.0 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 24.0 38.7 46.9 81.9 41.5 50.6 105.2 125.8 Net flow of long-term debt (ex. IMF) .. .. 5.5 10.9 11.9 53.3 3.4 30.1 74.9 93.3 Foreign direct investment (net) .. .. 1.6 1.4 -0.7 0.3 0.3 -0.1 0.3 0.3 Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 16.9 26.4 35.7 28.3 37.8 20.6 30.0 32.2 Memo: 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 46.6 101.1 121.6 Interest on long-term debt .. .. 2.0 2.6 2.2 2.1 2.0 1.8 1.7 1.9 Profit remittances on FDI .. .. 0.0 0.0 0.0 0.0 2.3 2.2 2.4 2.3 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 266.0 296.8 367.9 346.7 373.4 424.3 470.8 535.6 Exports of goods, serv. & inc. (XGS) .. .. 94.9 120.8 121.2 128.0 130.4 139.7 148.8 138.6 Worker remit. & comp. of employees .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. .. 122.9 163.8 183.3 177.2 192.8 258.4 272.7 262.7 International reserves (RES) .. .. 86.0 184.0 181.2 249.6 274.4 295.4 284.6 320.6 Current 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 98.7 133.6 141.0 145.5 178.2 271.9 EDT / GNI (%) .. .. 31.4 38.1 32.5 49.3 49.2 47.9 56.3 70.4 TDS / XGS (%) .. .. 5.5 5.7 5.9 7.2 5.4 4.8 4.2 4.6 INT / XGS (%) .. .. 2.4 2.2 1.9 1.7 1.6 1.4 1.2 1.4 INT / GNI (%) .. .. 0.9 0.9 0.6 0.6 0.6 0.5 0.4 0.4 RES / EDT (%) .. .. 103.0 162.8 151.5 145.9 149.3 145.3 107.3 85.1 RES / MGS (months) .. .. 8.4 13.5 11.9 16.9 17.1 13.7 12.5 14.6 Short-term / EDT (%) .. .. 3.9 0.1 1.7 0.0 1.1 0.5 0.0 0.0 Concessional / EDT (%) .. .. 74.0 95.9 96.4 69.5 71.2 65.7 51.7 49.5 Multilateral / EDT (%) .. .. 50.1 61.6 61.5 47.5 50.8 49.5 40.5 37.3 81 BHUTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9 Public and publicly guaranteed .. .. 80.3 112.9 117.6 171.0 181.8 202.2 265.2 376.9 Official 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 46.1 Private 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 0.0 Private 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 0.0 Memo: 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 97.8 Public and publicly guaranteed .. .. 8.4 15.2 16.8 60.3 8.3 34.8 79.5 97.8 Official 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 13.9 Private 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 0.0 Private 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 0.0 Memo: 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 4.5 Public and publicly guaranteed .. .. 2.9 4.3 4.9 7.0 4.9 4.7 4.5 4.5 Official 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 3.4 Private 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 0.0 Private 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 0.0 Memo: 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 93.3 Public and publicly guaranteed .. .. 5.5 10.9 11.9 53.3 3.4 30.1 74.9 93.3 Official 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 10.5 Private 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 0.0 Private 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 0.0 Memo: 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 82 BHUTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 2.0 2.6 2.2 2.1 2.0 1.8 1.7 1.9 Public and publicly guaranteed .. .. 2.0 2.6 2.2 2.1 2.0 1.8 1.7 1.9 Official 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 0.9 Private 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 0.0 Private 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 0.0 Memo: 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 91.4 Public and publicly guaranteed .. .. 3.4 8.3 9.7 51.1 1.4 28.3 73.2 91.4 Official 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 9.6 Private 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 0.0 Private 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 0.0 Memo: 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 6.4 Public and publicly guaranteed .. .. 5.0 6.9 7.1 9.2 6.9 6.5 6.3 6.4 Official 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 4.2 Private 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 0.0 Private 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 0.0 Memo: 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 97.7 165.1 Official creditors .. .. 48.4 225.3 189.7 146.0 133.5 173.9 97.7 165.1 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.9 8.5 Deutsche mark .. .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 43.1 24.9 21.6 15.7 15.5 17.7 17.6 18.3 Multiple currency .. .. 22.8 30.2 32.6 24.2 29.0 25.7 17.7 14.0 Special drawing rights .. .. 9.3 11.3 10.8 7.9 7.1 6.6 5.4 5.1 All other currencies .. .. 24.8 33.7 35.0 52.2 48.4 50.1 54.4 54.2 83 BHUTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 0.3 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 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 24.8 Official 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 24.8 Private creditors Interest (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 97.8 82.7 40.7 20.5 11.4 4.4 2.9 1.3 1.0 0.3 Principal 4.5 5.0 4.6 4.4 27.7 28.3 27.3 28.4 31.4 31.4 Interest 1.9 21.5 26.1 27.9 28.9 27.1 25.0 23.0 20.9 18.8 Official creditors Disbursements 97.8 82.7 40.7 20.5 11.4 4.4 2.9 1.3 1.0 0.3 Principal 4.5 5.0 4.6 4.4 27.7 28.3 27.3 28.4 31.4 31.4 Interest 1.9 21.5 26.1 27.9 28.9 27.1 25.0 23.0 20.9 18.8 Bilateral creditors Disbursements 74.9 68.7 30.2 12.6 6.1 0.6 0.3 0.0 0.0 0.0 Principal 3.4 3.6 2.9 2.5 25.2 25.6 23.7 23.2 25.3 25.3 Interest 0.9 20.1 24.6 26.4 27.0 25.1 23.0 20.9 18.8 16.7 Multilateral creditors Disbursements 23.0 14.0 10.6 7.9 5.2 3.8 2.6 1.3 1.0 0.3 Principal 1.2 1.4 1.7 2.0 2.5 2.7 3.6 5.2 6.1 6.2 Interest 1.0 1.4 1.5 1.5 1.9 2.0 2.1 2.1 2.1 2.0 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84 BOLIVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 588 2,702 4,275 5,195 5,237 5,616 5,548 5,785 4,676 4,867 Long-term debt (LDOD) 491 2,274 3,864 4,544 4,559 4,938 4,889 5,162 4,089 4,302 Public and publicly guaranteed 480 2,182 3,687 4,259 4,133 4,296 4,246 4,136 3,110 3,378 Private nonguaranteed 11 92 177 285 426 643 643 1,026 979 923 Use of IMF credit 6 126 257 276 248 264 247 220 207 195 Short-term debt 91 303 154 374 429 413 413 402 380 370 of 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 0 Memo: 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 0 Memo: export credits 0 0 794 581 495 266 223 202 128 64 TOTAL DEBT FLOWS Disbursements 58 553 331 497 666 492 442 758 569 497 Long-term debt 58 457 300 448 643 446 419 743 545 497 IMF purchases 0 96 31 49 23 46 23 15 24 0 Principal repayments 19 145 241 230 263 268 288 454 361 361 Long-term debt 19 145 196 198 229 233 265 434 340 344 IMF repurchases 0 0 46 32 34 35 23 20 21 17 Net flows on debt 39 180 32 329 480 208 154 293 189 126 of which short-term debt 0 -228 -57 62 78 -16 0 -10 -20 -10 Interest payments (INT) 7 220 144 183 212 165 130 180 184 115 Long-term debt 7 173 117 163 189 143 108 159 168 99 IMF charges 0 3 13 2 1 1 1 1 1 1 Short-term debt 0 45 14 17 21 21 21 20 15 15 Net transfers on debt 32 -40 -112 146 268 42 24 113 5 11 Total debt service paid (TDS) 26 365 385 413 475 433 418 634 544 476 Long-term debt 26 318 313 362 418 376 373 593 507 443 IMF repurchases and charges 0 3 59 34 36 36 24 21 22 18 Short-term debt (interest only) 0 45 14 17 21 21 21 20 15 15 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS -34 451 334 1,116 1,444 1,395 1,370 1,266 1,262 1,421 Net flow of long-term debt (ex. IMF) 39 312 104 250 414 213 153 309 205 153 Foreign direct investment (net) -76 91 27 474 731 949 1,011 736 706 677 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 48 202 392 299 233 206 221 352 591 Memo: 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 1,141 Interest on long-term debt 7 173 117 163 189 143 108 159 168 99 Profit remittances on FDI 0 19 17 40 80 81 142 148 167 180 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,256 2,784 4,626 7,233 7,730 8,335 8,089 8,165 7,814 7,599 Exports of goods, serv. & inc. (XGS) .. 1,046 998 1,344 1,580 1,547 1,540 1,711 1,749 1,720 Worker remit. & comp. of employees 0 1 4 11 85 88 96 127 135 113 Imports of goods & services (MGS) .. 1,112 1,354 1,968 2,357 2,489 2,342 2,443 2,312 2,353 International reserves (RES) 46 553 511 1,302 1,359 1,219 1,249 1,184 1,146 893 Current account balance .. -6 -199 -380 -554 -666 -488 -446 -274 -347 4. DEBT INDICATORS EDT / XGS (%) .. 258.4 428.6 386.6 331.4 363.1 360.2 338.1 267.4 283.0 EDT / GNI (%) 46.8 97.1 92.4 71.8 67.7 67.4 68.6 70.8 59.8 64.0 TDS / XGS (%) .. 35.0 38.6 30.7 30.1 28.0 27.1 37.1 31.1 27.7 INT / XGS (%) .. 21.1 14.4 13.6 13.4 10.7 8.4 10.5 10.5 6.7 INT / GNI (%) 0.6 7.9 3.1 2.5 2.7 2.0 1.6 2.2 2.4 1.5 RES / EDT (%) 7.9 20.5 12.0 25.1 26.0 21.7 22.5 20.5 24.5 18.3 RES / MGS (months) .. 6.0 4.5 7.9 6.9 5.9 6.4 5.8 5.9 4.6 Short-term / EDT (%) 15.5 11.2 3.6 7.2 8.2 7.4 7.4 7.0 8.1 7.6 Concessional / EDT (%) 45.0 24.6 44.2 56.5 56.7 57.3 57.5 53.9 47.8 51.9 Multilateral / EDT (%) 4.4 16.5 37.2 50.8 51.2 47.9 50.0 48.5 62.6 65.0 85 BOLIVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 491 2,274 3,864 4,544 4,559 4,938 4,889 5,162 4,089 4,302 Public and publicly guaranteed 480 2,182 3,687 4,259 4,133 4,296 4,246 4,136 3,110 3,378 Official 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 1,150 151 182 Private 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 18 Private 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 1,026 979 923 Memo: 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 DISBURSEMENTS 58 457 300 448 643 446 419 743 545 497 Public and publicly guaranteed 55 441 300 357 374 315 291 275 372 378 Official creditors 45 198 291 350 365 309 288 262 369 374 Multilateral 2 108 204 284 351 251 255 237 324 338 Concessional 2 28 90 188 227 194 168 150 191 200 Bilateral 43 91 86 65 14 58 34 25 46 36 Concessional 33 31 85 63 14 54 22 21 39 34 Private creditors 10 242 9 8 8 7 3 13 2 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 55 0 0 0 4 0 1 0 0 Other private 10 187 9 8 8 2 3 12 2 4 Private nonguaranteed 3 16 0 91 269 131 127 468 173 119 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 16 0 91 269 131 127 468 173 119 Memo: IBRD 0 73 0 0 0 0 0 0 0 0 IDA 2 2 49 100 136 88 82 61 102 104 PRINCIPAL REPAYMENTS 19 145 196 198 229 233 265 434 340 344 Public and publicly guaranteed 17 126 172 154 168 206 139 153 143 146 Official creditors 9 43 163 145 162 203 135 149 141 145 Multilateral 2 7 117 135 151 190 111 118 117 130 Concessional 2 0 14 23 26 23 18 21 15 14 Bilateral 7 36 46 10 10 14 24 32 24 15 Concessional 5 15 9 2 4 9 17 22 18 9 Private creditors 8 84 9 9 6 3 3 4 2 1 Bonds 0 1 0 0 3 0 0 0 0 0 Commercial banks 1 49 2 6 2 1 1 1 1 0 Other private 7 33 8 3 2 2 2 3 2 1 Private nonguaranteed 2 19 24 44 61 27 127 281 197 198 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 19 24 44 61 27 127 281 197 198 Memo: IBRD 0 3 21 25 19 13 13 12 0 0 IDA 0 0 2 3 4 3 0 0 1 7 NET FLOWS ON DEBT 39 312 104 250 414 213 153 309 205 153 Public and publicly guaranteed 38 315 128 203 206 109 153 122 229 231 Official 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 25 Private 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 3 Private 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 -78 Memo: IBRD 0 70 -21 -25 -19 -13 -13 -12 0 0 IDA 2 1 47 97 132 85 82 61 101 96 86 BOLIVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 7 173 117 163 189 143 108 159 168 99 Public and publicly guaranteed 7 164 103 150 150 137 103 112 99 68 Official creditors 4 43 101 148 148 135 102 111 98 67 Multilateral 1 21 69 104 100 91 78 82 72 61 Concessional 1 2 10 18 20 20 14 15 10 12 Bilateral 3 21 32 44 49 44 24 29 26 6 Concessional 2 11 6 33 41 37 20 23 22 5 Private creditors 3 121 2 1 1 1 1 1 1 0 Bonds 1 3 0 0 0 0 0 0 0 0 Commercial banks 0 95 1 0 0 0 0 0 0 0 Other private 2 22 2 1 1 1 1 1 1 0 Private nonguaranteed 1 9 14 14 40 6 5 47 69 32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 9 14 14 40 6 5 47 69 32 Memo: IBRD 0 10 15 7 4 3 2 1 0 0 IDA 0 0 3 5 6 6 0 1 1 7 NET TRANSFERS ON DEBT 32 138 -13 86 225 71 45 150 37 54 Public and publicly guaranteed 31 151 25 53 56 -27 50 10 130 164 Official 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 21 Private 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 3 Private 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 -110 Memo: IBRD 0 60 -36 -32 -24 -15 -15 -13 0 0 IDA 2 1 45 92 126 79 82 60 100 89 DEBT SERVICE (LTDS) 26 318 313 362 418 376 373 593 507 443 Public and publicly guaranteed 23 290 275 304 317 343 242 265 241 214 Official creditors 13 85 263 293 310 339 237 260 238 213 Multilateral 3 28 186 239 251 281 189 200 189 192 Concessional 3 3 24 41 46 43 32 36 25 26 Bilateral 10 57 77 54 59 58 48 60 50 21 Concessional 7 25 14 35 45 46 36 46 40 13 Private creditors 11 205 12 11 7 4 5 5 3 1 Bonds 1 4 0 0 3 0 0 0 0 0 Commercial banks 1 145 2 7 2 1 1 1 1 0 Other private 8 56 10 4 3 3 4 4 2 1 Private nonguaranteed 3 28 38 58 101 33 132 328 266 229 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 28 38 58 101 33 132 328 266 229 Memo: IBRD 0 13 36 32 24 15 15 13 0 0 IDA 0 1 4 8 10 9 0 1 2 15 UNDISBURSED DEBT 72 954 1,123 1,346 1,099 1,277 1,217 1,078 1,143 1,456 Official creditors 66 804 1,107 1,332 1,087 1,247 1,193 1,069 1,133 1,448 Private creditors 6 150 16 14 11 30 24 10 10 8 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 0.2 0.5 Deutsche mark 2.3 6.8 7.0 9.6 8.6 9.1 7.9 7.2 .. .. French franc 0.1 0.8 2.2 1.4 1.3 1.4 0.8 0.7 .. .. Japanese yen 0.0 1.7 10.0 12.2 11.3 12.2 13.5 12.3 0.0 0.0 Pound sterling 0.0 2.0 0.9 0.5 0.5 0.4 0.2 0.2 0.0 0.0 Swiss franc 0.0 0.3 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 85.9 65.1 41.3 35.1 37.1 39.0 42.2 45.0 61.3 64.9 Multiple currency 11.7 18.1 29.4 34.2 34.8 31.3 30.7 29.9 37.4 33.5 Special drawing rights 0.0 0.0 0.0 0.1 0.1 0.2 0.3 0.4 0.6 0.7 All other currencies 0.0 5.3 8.6 6.9 6.3 6.5 4.4 4.3 0.4 0.4 87 BOLIVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 92 181 83 18 34 28 100 41 Memo: interest forgiven .. .. 60 0 12 1 8 8 18 13 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 38.4 Official 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 38.4 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 310 366 278 188 124 79 50 27 20 6 Principal 409 330 331 329 279 269 250 250 247 251 Interest 154 144 141 123 110 97 83 70 59 51 Official creditors Disbursements 306 364 277 187 124 79 50 27 20 6 Principal 221 198 195 231 200 187 195 195 190 187 Interest 89 89 88 86 81 75 68 61 55 48 Bilateral creditors Disbursements 23 15 10 5 4 3 2 2 2 1 Principal 20 15 17 16 15 15 16 18 18 16 Interest 6 6 6 5 5 5 4 4 3 3 Multilateral creditors Disbursements 283 348 267 182 119 77 48 25 19 5 Principal 201 183 178 216 185 172 178 177 172 171 Interest 82 83 83 81 76 70 64 57 51 46 Private creditors Disbursements 3 2 1 1 0 0 0 0 0 0 Principal 188 132 136 98 79 82 56 55 57 64 Interest 66 55 52 37 29 23 14 9 4 3 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 3 2 1 1 0 0 0 0 0 0 Principal 188 132 136 98 79 82 56 55 57 64 Interest 66 55 52 37 29 23 14 9 4 3 88 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. .. .. .. 2,661 2,383 2,225 2,515 Long-term debt (LDOD) .. .. .. .. .. .. 2,528 2,229 2,054 2,303 Public and publicly guaranteed .. .. .. .. .. .. 2,525 2,222 2,043 2,282 Private nonguaranteed .. .. .. .. .. .. 3 7 11 21 Use of IMF credit .. .. .. 45 41 77 94 105 111 139 Short-term debt .. .. .. 73 57 119 40 49 60 73 of which interest arrears on LDOD .. .. .. .. .. .. 2 1 0 2 Official creditors .. .. .. .. .. .. 2 1 0 2 Private creditors .. .. .. .. .. .. 0 0 0 0 Memo: principal arrears on LDOD .. .. .. .. .. .. 30 2 0 0 Official creditors .. .. .. .. .. .. 4 2 0 0 Private creditors .. .. .. .. .. .. 26 0 0 0 Memo: export credits .. .. .. 245 234 128 177 163 246 289 TOTAL DEBT FLOWS Disbursements .. .. .. .. .. .. 160 120 112 191 Long-term debt .. .. .. .. .. .. 120 84 94 150 IMF purchases .. .. .. 0 0 33 40 36 18 41 Principal repayments .. .. .. .. .. .. 25 191 207 95 Long-term debt .. .. .. .. .. .. 4 171 199 73 IMF repurchases .. .. .. 2 1 0 21 20 8 23 Net flows on debt .. .. .. .. .. .. 91 -60 -83 107 of which short-term debt .. .. .. .. .. .. -44 11 12 11 Interest payments (INT) .. .. .. .. .. .. 166 134 92 63 Long-term debt .. .. .. .. .. .. 160 126 84 57 IMF charges .. .. .. 2 2 3 3 5 5 3 Short-term debt .. .. .. .. .. .. 3 3 3 3 Net transfers on debt .. .. .. .. .. .. -75 -193 -176 44 Total debt service paid (TDS) .. .. .. .. .. .. 191 325 299 158 Long-term debt .. .. .. .. .. .. 163 297 283 129 IMF repurchases and charges .. .. .. 4 3 3 24 25 13 26 Short-term debt (interest only) .. .. .. .. .. .. 3 3 3 3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. .. .. .. 1,115 630 451 676 Net flow of long-term debt (ex. IMF) .. .. .. .. .. .. 116 -86 -105 77 Foreign direct investment (net) .. .. .. .. .. .. 177 146 125 293 Portfolio equity flows .. .. .. .. .. .. 0 0 0 0 Grants (excluding technical coop.) .. .. .. 636 701 499 822 570 431 305 Memo: 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 .. .. .. .. .. .. 955 504 367 619 Interest on long-term debt .. .. .. .. .. .. 160 126 84 57 Profit remittances on FDI .. .. .. .. .. .. 0 0 0 0 Memo: official net transfers .. .. .. .. .. .. 802 394 259 333 private net transfers .. .. .. .. .. .. 153 110 108 286 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 2,519 3,299 4,626 4,964 4,774 5,264 5,847 Exports of goods, serv. & inc. (XGS) .. .. .. .. .. 2,201 2,291 2,417 2,368 2,275 Worker remit. & comp. of employees .. .. .. 0 0 1,163 1,096 900 861 807 Imports of goods & services (MGS) .. .. .. .. .. 4,029 4,410 4,060 4,361 4,834 International reserves (RES) .. .. .. .. 80 175 452 497 1,221 1,321 Current account balance .. .. .. .. .. -1,161 -1,459 -1,192 -1,563 -2,139 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. .. 119.7 116.2 98.6 94.0 110.5 EDT / GNI (%) .. .. .. 32.7 57.4 57.0 53.6 49.9 42.3 43.0 TDS / XGS (%) .. .. .. .. .. 3.1 8.3 13.4 12.6 7.0 INT / XGS (%) .. .. .. .. .. 3.1 7.2 5.5 3.9 2.8 INT / GNI (%) .. .. .. 7.4 1.3 1.5 3.3 2.8 1.7 1.1 RES / EDT (%) .. .. .. .. 4.2 6.6 17.0 20.8 54.9 52.5 RES / MGS (months) .. .. .. .. .. 0.5 1.2 1.5 3.4 3.3 Short-term / EDT (%) .. .. .. 8.9 3.0 4.5 1.5 2.1 2.7 2.9 Concessional / EDT (%) .. .. .. 14.1 9.5 13.0 32.1 36.5 40.1 43.5 Multilateral / EDT (%) .. .. .. 85.7 39.1 51.5 53.0 52.5 49.5 49.4 89 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. .. .. .. 2,528 2,229 2,054 2,303 Public and publicly guaranteed .. .. .. .. .. .. 2,525 2,222 2,043 2,282 Official 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 .. .. .. .. .. .. 436 413 394 456 Private creditors .. .. .. .. .. .. 570 458 451 473 Bonds .. .. .. .. .. .. 333 333 333 333 Commercial banks .. .. .. .. .. .. 135 125 118 140 Other private .. .. .. .. .. .. 103 0 0 0 Private nonguaranteed .. .. .. .. .. .. 3 7 11 21 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 3 7 11 21 Memo: IBRD .. .. .. 589 566 581 578 562 540 538 IDA .. .. .. 109 167 312 373 398 443 578 DISBURSEMENTS .. .. .. .. .. .. 120 84 94 150 Public and publicly guaranteed .. .. .. .. .. .. 120 80 81 131 Official creditors .. .. .. .. .. .. 120 80 81 131 Multilateral .. .. .. .. .. .. 118 75 80 104 Concessional .. .. .. .. .. .. 105 57 62 98 Bilateral .. .. .. .. .. .. 2 5 1 27 Concessional .. .. .. .. .. .. 2 5 1 15 Private creditors .. .. .. .. .. .. 0 0 0 0 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. .. .. 0 0 0 0 Other private .. .. .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. .. .. 0 5 13 19 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 5 13 19 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 110 65 135 68 44 62 97 PRINCIPAL REPAYMENTS .. .. .. .. .. .. 4 171 199 73 Public and publicly guaranteed .. .. .. .. .. .. 4 170 190 60 Official creditors .. .. .. .. .. .. 4 170 190 60 Multilateral .. .. .. .. .. .. 4 166 185 37 Concessional .. .. .. .. .. .. 0 0 1 2 Bilateral .. .. .. .. .. .. 0 4 5 22 Concessional .. .. .. .. .. .. 0 4 5 9 Private creditors .. .. .. .. .. .. 0 0 0 0 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. .. .. 0 0 0 0 Other private .. .. .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. .. .. 0 1 9 13 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 1 9 13 Memo: IBRD .. .. .. 25 0 0 0 0 5 23 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. .. .. .. 116 -86 -105 77 Public and publicly guaranteed .. .. .. .. .. .. 116 -90 -109 71 Official creditors .. .. .. .. .. .. 116 -90 -109 71 Multilateral .. .. .. .. .. .. 114 -92 -106 67 Concessional .. .. .. .. .. .. 104 57 60 97 Bilateral .. .. .. .. .. .. 2 1 -3 5 Concessional .. .. .. .. .. .. 2 1 -3 6 Private creditors .. .. .. .. .. .. 0 0 0 0 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks .. .. .. .. .. .. 0 0 0 0 Other private .. .. .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. .. .. 0 4 4 6 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 4 4 6 Memo: IBRD .. .. .. -25 0 0 0 0 -5 -23 IDA .. .. .. 110 65 135 68 44 62 97 90 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. .. .. .. 160 126 84 57 Public and publicly guaranteed .. .. .. .. .. .. 159 125 83 56 Official creditors .. .. .. .. .. .. 136 86 63 43 Multilateral .. .. .. .. .. .. 131 74 53 29 Concessional .. .. .. .. .. .. 3 4 4 5 Bilateral .. .. .. .. .. .. 5 13 10 14 Concessional .. .. .. .. .. .. 2 8 7 9 Private creditors .. .. .. .. .. .. 23 39 20 13 Bonds .. .. .. .. .. .. 20 37 18 9 Commercial banks .. .. .. .. .. .. 3 2 2 4 Other private .. .. .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. .. .. 0 0 1 1 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 0 1 1 Memo: IBRD .. .. .. 180 36 35 34 33 31 22 IDA .. .. .. 0 1 1 2 3 3 4 NET TRANSFERS ON DEBT .. .. .. .. .. .. -43 -212 -189 20 Public and publicly guaranteed .. .. .. .. .. .. -43 -216 -192 15 Official creditors .. .. .. .. .. .. -20 -176 -172 28 Multilateral .. .. .. .. .. .. -17 -165 -159 38 Concessional .. .. .. .. .. .. 101 53 56 92 Bilateral .. .. .. .. .. .. -3 -11 -13 -9 Concessional .. .. .. .. .. .. 0 -7 -10 -3 Private creditors .. .. .. .. .. .. -23 -39 -20 -13 Bonds .. .. .. .. .. .. -20 -37 -18 -9 Commercial banks .. .. .. .. .. .. -3 -2 -2 -4 Other private .. .. .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. .. .. 0 3 3 5 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 3 3 5 Memo: IBRD .. .. .. -205 -36 -35 -34 -33 -36 -45 IDA .. .. .. 110 64 133 66 41 59 93 DEBT SERVICE (LTDS) .. .. .. .. .. .. 163 297 283 129 Public and publicly guaranteed .. .. .. .. .. .. 163 295 273 116 Official creditors .. .. .. .. .. .. 140 256 253 103 Multilateral .. .. .. .. .. .. 135 240 239 67 Concessional .. .. .. .. .. .. 3 4 6 6 Bilateral .. .. .. .. .. .. 5 16 15 37 Concessional .. .. .. .. .. .. 2 12 12 18 Private creditors .. .. .. .. .. .. 23 39 20 13 Bonds .. .. .. .. .. .. 20 37 18 9 Commercial banks .. .. .. .. .. .. 3 2 2 4 Other private .. .. .. .. .. .. 0 0 0 0 Private nonguaranteed .. .. .. .. .. .. 0 1 10 13 Bonds .. .. .. .. .. .. 0 0 0 0 Commercial banks and other .. .. .. .. .. .. 0 1 10 13 Memo: IBRD .. .. .. 205 36 35 34 33 36 45 IDA .. .. .. 0 1 1 2 3 3 4 UNDISBURSED DEBT .. .. .. .. .. .. 366 308 410 418 Official creditors .. .. .. .. .. .. 366 308 410 418 Private creditors .. .. .. .. .. .. 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 26.2 27.7 Deutsche mark .. .. .. .. .. .. 9.2 10.2 .. .. French franc .. .. .. .. .. .. 0.0 0.0 .. .. Japanese yen .. .. .. .. .. .. 0.0 0.0 0.0 0.1 Pound sterling .. .. .. .. .. .. 0.0 0.0 0.0 0.0 Swiss franc .. .. .. .. .. .. 1.4 1.5 1.6 1.6 U.S.dollars .. .. .. .. .. .. 36.4 38.0 44.1 45.3 Multiple currency .. .. .. .. .. .. 23.1 25.5 26.7 23.8 Special drawing rights .. .. .. .. .. .. 0.0 0.0 0.0 0.1 All other currencies .. .. .. .. .. .. 29.8 24.7 1.4 1.3 91 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. .. .. .. .. 0 0 0 0 Memo: interest forgiven .. .. .. .. .. .. 0 0 0 0 Debt stock reduction .. .. .. .. .. .. 0 0 0 0 of which debt buyback .. .. .. .. .. .. 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 78.3 Official 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 78.3 Private 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 0.0 Memorandum items Commitments .. .. .. .. .. .. 238 38 199 105 Official creditors .. .. .. .. .. .. 238 38 199 105 Private creditors .. .. .. .. .. .. 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 127 77 57 45 35 27 20 13 9 4 Principal 88 87 106 107 102 105 108 113 117 114 Interest 50 50 48 46 43 41 39 36 34 31 Official creditors Disbursements 127 77 57 45 35 27 20 13 9 4 Principal 71 71 71 72 66 70 73 77 82 79 Interest 40 39 38 37 35 34 32 30 28 26 Bilateral creditors Disbursements 49 31 17 9 3 2 1 0 0 0 Principal 39 39 36 36 24 25 25 25 25 25 Interest 14 14 13 12 11 10 10 9 9 8 Multilateral creditors Disbursements 78 45 40 36 32 26 19 13 9 4 Principal 33 33 34 36 42 45 48 53 57 54 Interest 26 26 25 25 24 23 22 21 20 18 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 17 16 35 35 35 35 35 35 35 35 Interest 11 10 10 9 8 8 7 6 5 4 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 0 11 11 11 11 11 11 11 11 Interest 3 3 3 3 3 2 2 2 2 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 17 16 25 25 25 25 25 25 25 25 Interest 7 7 7 6 6 5 5 4 4 3 92 BOTSWANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 17.4 135.6 552.9 626.5 574.7 532.2 504.2 453.2 399.5 479.9 Long-term debt (LDOD) 17.4 131.6 547.1 620.5 534.7 524.7 484.5 437.8 378.9 463.9 Public and publicly guaranteed 17.4 131.6 547.1 620.5 534.7 524.7 484.5 437.8 378.9 463.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 4.0 5.8 6.0 40.0 7.4 19.7 15.4 20.6 16.0 of which interest arrears on LDOD 0.0 0.0 2.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 1.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 1.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD 0.0 0.0 2.7 0.1 0.1 1.2 1.1 1.0 0.0 2.2 Official creditors 0.0 0.0 0.9 0.1 0.1 1.2 1.1 1.0 0.0 2.2 Private creditors 0.0 0.0 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits 0.0 0.0 128.0 75.1 82.1 12.3 8.0 7.0 4.8 3.6 TOTAL DEBT FLOWS Disbursements 5.7 27.2 27.0 27.2 21.2 22.5 21.9 28.0 7.4 1.8 Long-term debt 5.7 27.2 27.0 27.2 21.2 22.5 21.9 28.0 7.4 1.8 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.2 6.0 66.5 72.8 74.1 53.0 52.3 52.1 39.3 44.5 Long-term debt 0.2 6.0 66.5 72.8 74.1 53.0 52.3 52.1 39.3 44.5 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt 5.6 8.3 -39.4 -43.5 -18.9 -63.1 -18.2 -28.4 -26.6 -47.3 of which short-term debt 0.0 -13.0 0.1 2.0 34.0 -32.6 12.3 -4.3 5.2 -4.6 Interest payments (INT) 0.4 8.2 38.8 78.3 29.1 23.2 21.5 16.4 12.5 15.5 Long-term debt 0.4 6.7 38.6 78.0 27.7 22.8 20.7 15.2 11.9 15.2 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 1.5 0.2 0.3 1.4 0.4 0.8 1.2 0.7 0.3 Net transfers on debt 5.1 0.1 -78.2 -121.9 -47.9 -86.3 -39.6 -44.8 -39.1 -62.8 Total debt service paid (TDS) 0.6 14.1 105.3 151.1 103.2 76.3 73.8 68.5 51.8 60.0 Long-term debt 0.6 12.6 105.1 150.8 101.8 75.8 73.0 67.4 51.1 59.6 IMF repurchases and charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) 0.0 1.5 0.2 0.3 1.4 0.4 0.8 1.2 0.7 0.3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 14.9 183.5 134.9 84.4 99.3 95.8 31.5 48.4 10.2 6.1 Net 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 -42.7 Foreign direct investment (net) 0.0 111.6 95.9 71.2 100.1 95.3 36.7 54.4 25.6 36.8 Portfolio equity flows 0.0 0.0 0.0 28.7 10.8 -14.1 -7.5 0.0 0.0 0.0 Grants (excluding technical coop.) 9.3 50.6 78.4 30.0 41.2 45.2 32.8 18.1 16.5 12.0 Memo: 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 -614.0 Interest on long-term debt 0.4 6.7 38.6 78.0 27.7 22.8 20.7 15.2 11.9 15.2 Profit remittances on FDI 0.0 107.6 406.9 656.5 669.3 407.4 607.0 615.0 560.0 605.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 4,997.0 Exports 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 26.4 Imports 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 5,473.9 Current 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 9.6 TDS / 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 0.3 RES / EDT (%) .. 246.3 602.5 802.5 987.4 1,116.3 1,249.2 1,394.3 1,476.1 1,140.7 RES / 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 3.3 Concessional / EDT (%) 64.3 43.8 32.9 53.5 52.6 58.4 59.1 63.9 66.9 61.6 Multilateral / EDT (%) 30.0 62.1 70.0 71.6 69.2 72.8 66.9 65.6 65.1 66.1 93 BOTSWANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 17.4 131.6 547.1 620.5 534.7 524.7 484.5 437.8 378.9 463.9 Public and publicly guaranteed 17.4 131.6 547.1 620.5 534.7 524.7 484.5 437.8 378.9 463.9 Official creditors 14.2 123.8 519.7 584.7 507.1 500.5 452.6 409.9 359.5 446.8 Multilateral 5.2 84.3 387.1 448.5 398.0 387.2 337.4 297.4 260.0 317.0 Concessional 5.2 31.5 109.8 214.6 204.6 205.9 187.9 180.1 168.8 165.9 Bilateral 9.0 39.5 132.7 136.1 109.2 113.3 115.2 112.5 99.5 129.8 Concessional 6.0 27.9 71.9 120.3 97.6 105.1 110.0 109.5 98.7 129.6 Private creditors 3.2 7.8 27.4 35.9 27.6 24.2 31.9 27.9 19.3 17.1 Bonds 2.6 2.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 10.5 33.6 25.8 22.4 30.3 26.4 18.0 15.9 Other private 0.6 5.3 16.9 2.3 1.8 1.8 1.6 1.5 1.4 1.2 Private 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 0.0 Memo: IBRD 0.0 50.0 155.2 68.8 47.1 36.2 24.3 15.6 10.2 7.4 IDA 5.2 15.6 13.6 11.0 10.6 10.1 9.6 9.1 8.7 8.2 DISBURSEMENTS 5.7 27.2 27.0 27.2 21.2 22.5 21.9 28.0 7.4 1.8 Public and publicly guaranteed 5.7 27.2 27.0 27.2 21.2 22.5 21.9 28.0 7.4 1.8 Official creditors 2.8 24.4 27.0 27.2 21.2 22.5 11.2 24.3 7.4 1.8 Multilateral 1.6 15.5 20.5 25.4 19.5 17.2 5.5 7.9 4.1 0.2 Concessional 1.6 5.8 11.4 13.0 11.5 6.7 2.8 6.5 3.5 0.2 Bilateral 1.2 8.9 6.5 1.9 1.7 5.3 5.7 16.4 3.2 1.6 Concessional 1.2 2.7 3.9 1.9 1.7 5.3 5.7 16.4 3.2 1.6 Private creditors 2.9 2.8 0.0 0.0 0.0 0.0 10.7 3.8 0.0 0.0 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 0.0 0.0 0.0 0.0 10.7 3.8 0.0 0.0 Other private 0.3 2.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.0 9.7 7.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS 0.2 6.0 66.5 72.8 74.1 53.0 52.3 52.1 39.3 44.5 Public and publicly guaranteed 0.2 6.0 66.5 72.8 74.1 53.0 52.3 52.1 39.3 44.5 Official creditors 0.1 6.0 48.0 64.2 69.1 48.6 51.5 45.3 37.0 42.2 Multilateral 0.0 5.7 36.6 49.2 46.6 40.7 41.3 33.2 27.5 30.1 Concessional 0.0 0.1 2.7 8.9 11.2 10.1 11.0 8.7 8.0 8.4 Bilateral 0.1 0.3 11.4 15.0 22.5 7.9 10.1 12.1 9.5 12.1 Concessional 0.0 0.0 3.4 6.1 18.8 4.4 7.3 10.2 7.7 11.7 Private creditors 0.0 0.0 18.5 8.6 5.0 4.5 0.8 6.9 2.2 2.2 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 0.2 4.3 4.5 4.4 0.7 6.7 2.1 2.1 Other private 0.0 0.0 18.3 4.3 0.5 0.0 0.2 0.1 0.1 0.1 Private 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 0.0 Memo: IBRD 0.0 5.4 19.0 20.9 16.5 12.9 11.2 7.4 4.5 3.5 IDA 0.0 0.1 0.3 0.5 0.5 0.5 0.5 0.5 0.5 0.5 NET FLOWS ON DEBT 5.6 21.3 -39.5 -45.6 -52.9 -30.5 -30.4 -24.1 -31.9 -42.7 Public and publicly guaranteed 5.6 21.3 -39.5 -45.6 -52.9 -30.5 -30.4 -24.1 -31.9 -42.7 Official 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 -10.1 Private 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 -0.1 Private 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 0.0 Memo: 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 94 BOTSWANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.4 6.7 38.6 78.0 27.7 22.8 20.7 15.2 11.9 15.2 Public and publicly guaranteed 0.4 6.7 38.6 78.0 27.7 22.8 20.7 15.2 11.9 15.2 Official creditors 0.4 5.7 35.6 69.5 25.3 21.3 18.9 13.9 11.4 14.8 Multilateral 0.0 4.7 27.8 63.1 20.9 17.7 15.8 11.1 8.4 11.3 Concessional 0.0 0.2 2.5 4.2 4.2 3.7 3.0 2.6 2.2 2.7 Bilateral 0.4 1.0 7.8 6.4 4.5 3.6 3.2 2.9 3.0 3.6 Concessional 0.2 0.5 1.8 4.3 3.0 2.5 2.4 2.4 2.7 3.6 Private creditors 0.0 1.0 3.0 8.5 2.4 1.5 1.8 1.3 0.5 0.3 Bonds 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.5 0.1 6.5 2.2 1.4 1.6 1.2 0.4 0.2 Other private 0.0 0.3 3.0 2.0 0.2 0.2 0.2 0.2 0.1 0.1 Private 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 0.0 Memo: IBRD 0.0 4.4 14.2 6.2 4.3 2.9 2.0 1.2 0.7 0.5 IDA 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 NET TRANSFERS ON DEBT 5.1 14.6 -78.1 -123.6 -80.6 -53.3 -51.2 -39.3 -43.7 -57.8 Public and publicly guaranteed 5.1 14.6 -78.1 -123.6 -80.6 -53.3 -51.2 -39.3 -43.7 -57.8 Official 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 -13.6 Private 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 -0.3 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.6 12.6 105.1 150.8 101.8 75.8 73.0 67.4 51.1 59.6 Public and publicly guaranteed 0.6 12.6 105.1 150.8 101.8 75.8 73.0 67.4 51.1 59.6 Official creditors 0.6 11.7 83.6 133.7 94.4 69.8 70.4 59.2 48.4 57.1 Multilateral 0.0 10.4 64.4 112.3 67.5 58.4 57.1 44.3 35.9 41.4 Concessional 0.0 0.3 5.1 13.1 15.4 13.8 13.9 11.3 10.3 11.1 Bilateral 0.5 1.3 19.2 21.4 27.0 11.4 13.3 14.9 12.4 15.7 Concessional 0.2 0.5 5.2 10.4 21.8 6.8 9.8 12.6 10.5 15.3 Private creditors 0.1 1.0 21.5 17.1 7.4 6.0 2.6 8.2 2.7 2.6 Bonds 0.0 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 2.3 7.9 2.5 2.3 Other private 0.1 0.3 21.3 6.3 0.7 0.2 0.3 0.3 0.3 0.3 Private 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 0.0 Memo: IBRD 0.0 9.7 33.1 27.1 20.8 15.8 13.2 8.6 5.2 4.0 IDA 0.0 0.2 0.4 0.6 0.6 0.6 0.6 0.5 0.5 0.5 UNDISBURSED DEBT 31.1 159.6 410.4 120.2 103.5 86.4 65.8 34.0 29.7 31.9 Official creditors 31.1 118.0 373.2 105.8 89.0 71.9 62.0 34.0 29.7 31.9 Private creditors 0.0 41.6 37.2 14.4 14.4 14.4 3.8 0.0 0.0 0.0 Memorandum items Concessional LDOD 11.2 59.4 181.7 334.9 302.2 311.0 297.9 289.6 267.4 295.6 Variable rate LDOD 0.0 0.0 73.1 96.7 76.2 66.4 62.6 49.1 30.5 39.0 Public sector LDOD 17.4 131.6 547.1 596.4 518.0 511.3 473.0 432.4 378.9 463.9 Private sector LDOD 0.0 0.0 0.0 24.1 16.7 13.4 11.6 5.4 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 8.6 6.2 Deutsche mark 0.0 0.0 0.3 4.0 3.2 2.6 2.4 1.2 .. .. French franc 0.0 0.0 1.7 0.6 0.6 0.6 0.5 0.5 .. .. Japanese yen 0.0 0.0 4.4 11.2 9.4 10.7 12.4 11.4 10.7 17.7 Pound sterling 81.6 21.2 10.1 3.8 3.6 3.0 2.5 2.3 2.0 5.6 Swiss franc 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 U.S.dollars 0.0 25.7 11.9 14.1 15.2 14.5 16.3 18.0 19.8 24.3 Multiple currency 0.0 47.9 54.6 43.8 42.9 40.9 37.4 34.4 32.7 24.4 Special drawing rights 0.0 0.0 0.0 1.7 1.9 1.9 1.8 1.5 1.2 1.1 All other currencies 18.4 5.2 17.0 20.8 23.1 25.7 26.5 30.6 24.9 20.5 95 BOTSWANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 0.0 0.0 0.0 0.0 0.0 1.1 0.0 Memo: interest forgiven .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.6 6.0 6.8 3.9 2.5 4.3 4.0 0.0 3.9 0.0 Maturity (years) 38.9 18.4 15.2 14.8 19.1 17.6 11.6 0.0 11.9 19.3 Grace period (years) 10.0 4.0 4.4 4.4 3.6 3.4 4.1 0.0 3.9 10.3 Grant element (%) 79.7 24.2 18.1 34.8 46.6 33.8 30.4 0.0 30.9 74.6 Official creditors Interest (%) 0.1 6.0 5.6 3.8 2.5 4.3 4.0 0.0 3.9 0.0 Maturity (years) 40.7 18.4 17.5 16.0 19.1 17.6 11.6 0.0 11.9 19.3 Grace period (years) 9.4 4.0 4.5 4.8 3.6 3.4 4.1 0.0 3.9 10.3 Grant element (%) 84.9 24.2 26.5 37.2 46.6 33.8 30.4 0.0 30.9 74.6 Private creditors Interest (%) 7.3 0.0 8.9 4.2 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 16.9 0.0 11.6 11.6 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 16.3 0.0 4.1 3.6 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 19.6 0.0 4.6 28.6 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 38 69 81 52 10 11 3 0 4 4 Official creditors 35 69 50 37 10 11 3 0 4 4 Private creditors 3 0 31 14 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 1.8 12.2 9.4 4.5 2.2 1.5 0.9 0.4 0.4 0.3 Principal 44.5 46.9 42.2 40.0 39.3 38.1 33.8 29.5 27.0 25.8 Interest 15.2 14.0 12.3 10.8 9.2 7.7 6.1 4.9 4.0 3.1 Official creditors Disbursements 1.8 12.2 9.4 4.5 2.2 1.5 0.9 0.4 0.4 0.3 Principal 42.2 44.5 39.7 37.6 36.8 35.6 31.3 28.8 26.5 25.2 Interest 14.8 12.7 11.3 9.9 8.5 7.1 5.8 4.7 3.8 3.0 Bilateral creditors Disbursements 1.6 3.5 3.1 2.1 1.4 1.0 0.5 0.4 0.4 0.3 Principal 12.1 11.5 10.8 11.2 10.7 10.7 10.5 10.2 10.3 10.0 Interest 3.6 3.1 2.9 2.7 2.4 2.2 1.9 1.6 1.3 1.1 Multilateral creditors Disbursements 0.2 8.7 6.3 2.4 0.8 0.5 0.4 0.0 0.0 0.0 Principal 30.1 33.0 29.0 26.4 26.1 24.9 20.8 18.5 16.2 15.2 Interest 11.3 9.6 8.4 7.2 6.1 5.0 3.9 3.1 2.5 2.0 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 2.2 2.5 2.5 2.5 2.5 2.5 2.5 0.7 0.5 0.5 Interest 0.3 1.2 1.1 0.9 0.7 0.5 0.4 0.2 0.2 0.1 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 2.1 2.3 2.3 2.3 2.3 2.3 2.3 0.5 0.5 0.5 Interest 0.2 1.1 1.0 0.8 0.6 0.5 0.3 0.2 0.2 0.1 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.0 0.0 Interest 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 96 BRAZIL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5,734 71,527 119,964 181,322 198,024 241,010 243,711 238,793 226,358 227,932 Long-term debt (LDOD) 5,020 57,987 94,427 145,327 163,138 206,291 205,654 206,052 189,748 183,710 Public and publicly guaranteed 3,314 41,382 87,756 96,352 87,305 98,175 92,118 93,370 93,467 96,565 Private nonguaranteed 1,706 16,605 6,671 48,975 75,833 108,116 113,536 112,682 96,280 87,145 Use of IMF credit 0 0 1,821 68 31 4,825 8,827 1,768 8,337 20,827 Short-term debt 714 13,540 23,716 35,927 34,854 29,894 29,231 30,973 28,273 23,395 of 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 0 Memo: 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 0 Memo: 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 40,404 Long-term debt 1,783 11,418 4,087 29,695 43,823 62,000 40,609 41,671 38,291 24,511 IMF purchases 0 0 0 0 0 4,639 6,085 0 6,718 15,893 Principal repayments 531 6,848 5,913 14,765 29,104 35,906 53,332 47,726 37,331 36,910 Long-term debt 456 6,848 5,147 14,695 29,071 35,884 51,355 41,033 37,331 32,264 IMF repurchases 75 0 765 70 33 21 1,977 6,693 0 4,646 Net flows on debt 1,252 9,463 -1,727 19,238 -1,281 6,734 -5,892 -4,223 5,155 -1,385 of which short-term debt 0 4,892 99 4,308 -16,000 -24,000 746 1,831 -2,524 -4,878 Interest payments (INT) 221 7,909 2,260 10,452 12,157 15,453 17,737 17,069 16,991 14,721 Long-term debt 221 6,384 2,029 8,587 10,771 13,952 15,969 15,239 15,501 13,489 IMF charges 0 0 231 5 2 1 463 336 133 467 Short-term debt 0 1,525 0 1,860 1,384 1,500 1,305 1,494 1,357 765 Net transfers on debt 1,031 1,553 -3,986 8,786 -13,438 -8,720 -23,629 -21,292 -11,836 -16,106 Total debt service paid (TDS) 752 14,757 8,172 25,217 41,261 51,359 71,069 64,795 54,322 51,632 Long-term debt 677 13,232 7,176 23,282 39,842 49,837 67,323 56,271 52,832 45,753 IMF repurchases and charges 75 0 996 75 35 22 2,441 7,029 133 5,114 Short-term debt (interest only) 0 1,525 0 1,860 1,384 1,500 1,305 1,494 1,357 765 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 1,777 6,495 72 32,065 39,584 56,363 20,468 36,548 25,980 10,865 Net flow of long-term debt (ex. IMF) 1,327 4,571 -1,060 15,000 14,752 26,116 -10,746 639 960 -7,754 Foreign direct investment (net) 421 1,911 989 11,200 19,650 31,913 28,576 32,779 22,457 16,566 Portfolio equity flows 0 0 103 5,785 5,099 -1,768 2,572 3,076 2,481 1,981 Grants (excluding technical coop.) 28 14 41 80 83 103 65 54 81 72 Memo: 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 -8,573 Interest on long-term debt 221 6,384 2,029 8,587 10,771 13,952 15,969 15,239 15,501 13,489 Profit remittances on FDI 0 955 1,892 3,975 6,070 6,456 5,150 4,238 5,006 5,950 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 41,729 227,300 449,672 762,769 791,571 769,439 517,839 583,804 489,286 434,141 Exports of goods, serv. & inc. (XGS) .. 23,331 36,854 59,722 65,846 64,644 60,326 69,317 72,003 74,974 Worker remit. & comp. of employees 0 82 537 2,059 1,572 1,236 1,501 1,350 1,449 2,004 Imports of goods & services (MGS) .. 36,250 40,949 83,545 96,827 98,946 86,224 93,950 95,676 83,349 International reserves (RES) 1,190 6,875 9,200 59,685 51,706 43,902 35,717 33,008 35,866 37,835 Current account balance .. -12,831 -3,823 -23,248 -30,491 -33,829 -25,400 -24,225 -23,215 -7,696 4. DEBT INDICATORS EDT / XGS (%) .. 306.6 325.5 303.6 300.7 372.8 404.0 344.5 314.4 304.0 EDT / GNI (%) 13.7 31.5 26.7 23.8 25.0 31.3 47.1 40.9 46.3 52.5 TDS / XGS (%) .. 63.3 22.2 42.2 62.7 79.4 117.8 93.5 75.4 68.9 INT / XGS (%) .. 33.9 6.1 17.5 18.5 23.9 29.4 24.6 23.6 19.6 INT / GNI (%) 0.5 3.5 0.5 1.4 1.5 2.0 3.4 2.9 3.5 3.4 RES / EDT (%) 20.8 9.6 7.7 32.9 26.1 18.2 14.7 13.8 15.8 16.6 RES / MGS (months) .. 2.3 2.7 8.6 6.4 5.3 5.0 4.2 4.5 5.4 Short-term / EDT (%) 12.5 18.9 19.8 19.8 17.6 12.4 12.0 13.0 12.5 10.3 Concessional / EDT (%) 22.9 2.5 2.5 2.9 2.2 1.8 1.8 0.9 1.2 1.4 Multilateral / EDT (%) 6.5 4.3 9.5 5.2 5.1 6.8 7.6 7.6 8.6 9.3 97 BRAZIL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5,020 57,987 94,427 145,327 163,138 206,291 205,654 206,052 189,748 183,710 Public and publicly guaranteed 3,314 41,382 87,756 96,352 87,305 98,175 92,118 93,370 93,467 96,565 Official 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 3,209 Private 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 1,061 Private 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 70,669 Memo: 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 24,511 Public and publicly guaranteed 883 8,227 3,212 10,169 10,484 19,622 14,700 17,256 15,832 14,456 Official 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 4 353 568 526 458 814 Private 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 53 Private 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 8,000 Memo: 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 32,264 Public and publicly guaranteed 256 3,878 4,139 7,406 10,763 12,176 18,282 17,226 13,225 14,870 Official 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 29 543 302 442 422 224 122 507 Private 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 43 898 496 686 614 752 284 234 271 829 Private 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 14,114 Memo: 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 -7,754 Public and publicly guaranteed 627 4,349 -927 2,763 -280 7,446 -3,582 30 2,607 -414 Official 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 -90 145 302 336 307 Private 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 -776 Private 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 -6,114 Memo: IBRD 47 245 -469 278 368 246 580 805 810 338 IDA 0 0 0 0 0 0 0 0 0 0 98 BRAZIL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 221 6,384 2,029 8,587 10,771 13,952 15,969 15,239 15,501 13,489 Public and publicly guaranteed 132 4,253 1,569 5,531 5,211 5,135 6,634 6,887 6,931 6,643 Official 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 92 Private 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 34 Private 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 5,139 Memo: 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 -21,242 Public and publicly guaranteed 495 96 -2,496 -2,768 -5,490 2,311 -10,216 -6,857 -4,324 -7,057 Official 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 -43 221 275 215 Private 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 -809 Private 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 -11,254 Memo: 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 45,753 Public and publicly guaranteed 388 8,131 5,708 12,937 15,974 17,311 24,916 24,113 20,156 21,513 Official 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 42 780 344 629 611 304 183 599 Private 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 1,345 732 892 730 950 349 273 287 863 Private 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 19,254 Memo: 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 17,222 Official creditors 821 6,579 7,467 10,940 14,862 29,010 30,793 20,727 14,328 13,278 Private creditors 841 8,310 7,620 9,921 14,263 15,510 15,069 17,472 7,972 3,943 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 13.4 11.6 Deutsche mark 7.3 8.1 8.9 5.7 5.1 3.3 2.6 3.8 .. .. French franc 0.2 2.5 6.6 4.9 4.2 3.1 2.3 2.0 .. .. Japanese yen 0.0 8.5 7.4 8.2 7.3 5.9 7.3 7.6 8.8 8.7 Pound sterling 7.6 2.5 1.8 2.2 2.3 1.7 1.2 1.1 0.9 0.6 Swiss franc 2.2 1.3 1.0 0.2 0.3 0.2 0.2 0.3 0.3 0.2 U.S.dollars 72.1 67.8 60.3 68.0 68.8 74.7 73.2 71.5 70.9 73.7 Multiple currency 9.6 7.2 12.7 9.3 9.7 7.7 7.6 6.5 5.6 5.1 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 1.1 2.1 1.3 1.5 2.3 3.4 5.6 7.0 0.1 0.1 99 BRAZIL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 15.2 Official 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 37.7 Private 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 -4.3 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 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 32 Principal 29,981 30,720 22,225 16,349 15,957 13,308 10,911 7,641 9,272 8,698 Interest 12,054 10,161 8,365 7,036 6,040 4,865 4,189 3,385 3,051 2,358 Official creditors Disbursements 3,205 2,334 1,550 1,020 614 359 237 133 76 32 Principal 6,257 5,827 4,107 3,822 2,232 2,151 2,117 1,994 1,753 1,616 Interest 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 930 846 778 728 665 597 529 464 401 340 Private creditors Disbursements 1,455 432 8 0 0 0 0 0 0 0 Principal 23,724 24,892 18,118 12,527 13,725 11,157 8,794 5,647 7,519 7,082 Interest 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 1,702 100 BULGARIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 10,890 10,103 9,853 10,040 10,090 10,188 9,638 10,462 Long-term debt (LDOD) .. .. 9,834 8,636 8,174 8,506 8,468 8,449 8,183 8,585 Public and publicly guaranteed .. .. 9,834 8,223 7,750 7,952 7,777 7,680 7,401 7,474 Private nonguaranteed .. .. 0 413 424 554 691 769 782 1,111 Use of IMF credit .. .. 0 586 942 1,116 1,250 1,322 1,110 1,049 Short-term debt .. .. 1,056 881 737 419 372 418 345 828 of 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 0 Memo: 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 0 Memo: export credits .. .. 4,798 1,427 1,207 954 789 650 375 217 TOTAL DEBT FLOWS Disbursements .. .. 875 335 715 1,139 1,324 995 839 983 Long-term debt .. .. 875 218 226 828 1,038 719 706 874 IMF purchases .. .. 0 116 489 311 286 276 133 109 Principal repayments .. .. 865 703 462 769 751 712 803 1,006 Long-term debt .. .. 865 478 374 586 627 573 502 753 IMF repurchases .. .. 0 225 89 183 124 139 301 253 Net flows on debt .. .. -14 -41 45 52 671 362 -36 460 of which short-term debt .. .. -24 327 -208 -318 98 80 -72 483 Interest payments (INT) .. .. 510 562 517 538 417 538 533 362 Long-term debt .. .. 452 499 457 471 354 456 459 307 IMF charges .. .. 0 29 31 45 44 63 58 31 Short-term debt .. .. 58 34 30 22 18 19 15 24 Net transfers on debt .. .. -523 -604 -472 -487 254 -176 -568 98 Total debt service paid (TDS) .. .. 1,374 1,265 980 1,307 1,168 1,250 1,336 1,368 Long-term debt .. .. 1,316 977 830 1,057 981 1,029 962 1,060 IMF repurchases and charges .. .. 0 254 120 228 168 202 359 284 Short-term debt (interest only) .. .. 58 34 30 22 18 19 15 24 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 15 -51 551 906 1,372 1,282 1,182 859 Net flow of long-term debt (ex. IMF) .. .. 11 -260 -147 242 411 145 204 121 Foreign direct investment (net) .. .. 4 109 505 537 806 1,002 813 600 Portfolio equity flows .. .. 0 2 52 19 2 5 -9 -23 Grants (excluding technical coop.) .. .. 0 98 141 108 153 130 174 160 Memo: 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 1,006 719 574 356 Interest on long-term debt .. .. 452 499 457 471 354 456 459 307 Profit remittances on FDI .. .. 0 1 0 56 12 107 149 195 Memo: official net transfers .. .. 43 -49 -75 165 167 75 -115 -52 private net transfers .. .. -480 -502 169 214 839 643 689 409 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 9,511 10,021 12,447 12,777 12,284 13,291 15,259 Exports of goods, serv. & inc. (XGS) .. .. .. 6,437 6,488 6,288 6,058 7,323 7,891 8,606 Worker remit. & comp. of employees .. .. 0 42 51 51 43 58 71 73 Imports of goods & services (MGS) .. .. .. 6,526 6,298 6,580 7,043 8,314 9,231 9,834 International reserves (RES) .. .. .. 864 2,485 3,057 3,265 3,507 3,646 4,846 Current account balance .. .. .. 16 427 -62 -685 -701 -842 -679 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 156.9 151.9 159.7 166.5 139.1 122.1 121.6 EDT / GNI (%) .. .. .. 106.2 98.3 80.7 79.0 82.9 72.5 68.6 TDS / XGS (%) .. .. .. 19.7 15.1 20.8 19.3 17.1 16.9 15.9 INT / XGS (%) .. .. .. 8.7 8.0 8.6 6.9 7.3 6.7 4.2 INT / GNI (%) .. .. .. 5.9 5.2 4.3 3.3 4.4 4.0 2.4 RES / EDT (%) .. .. .. 8.6 25.2 30.4 32.4 34.4 37.8 46.3 RES / MGS (months) .. .. .. 1.6 4.7 5.6 5.6 5.1 4.7 5.9 Short-term / EDT (%) .. .. 9.7 8.7 7.5 4.2 3.7 4.1 3.6 7.9 Concessional / EDT (%) .. .. 0.7 1.8 1.7 1.7 2.2 3.7 3.8 3.2 Multilateral / EDT (%) .. .. 2.0 12.3 11.0 14.1 14.8 15.2 16.0 17.2 101 BULGARIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 9,834 8,636 8,174 8,506 8,468 8,449 8,183 8,585 Public and publicly guaranteed .. .. 9,834 8,223 7,750 7,952 7,777 7,680 7,401 7,474 Official 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 .. .. 77 179 159 165 215 370 361 305 Private 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 65 Private 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 1,111 Memo: IBRD .. .. 0 453 501 697 829 824 844 958 IDA .. .. 0 0 0 0 0 0 0 0 DISBURSEMENTS .. .. 875 218 226 828 1,038 719 706 874 Public and publicly guaranteed .. .. 875 157 201 522 525 405 454 145 Official 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 28 Private 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 0 Private nonguaranteed .. .. 0 61 25 306 513 313 252 729 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 61 25 306 513 313 252 729 Memo: IBRD .. .. 0 52 101 197 221 71 88 39 IDA .. .. 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. 865 478 374 586 627 573 502 753 Public and publicly guaranteed .. .. 865 455 352 377 311 345 402 320 Official 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 17 Private 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 4 Private nonguaranteed .. .. 0 23 21 209 316 229 100 433 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 23 21 209 316 229 100 433 Memo: IBRD .. .. 0 13 16 20 22 27 32 37 IDA .. .. 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. 11 -260 -147 242 411 145 204 121 Public and publicly guaranteed .. .. 11 -297 -151 146 213 61 52 -174 Official 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 11 Private 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 -4 Private 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 85 151 296 Memo: IBRD .. .. 0 40 85 176 199 44 56 2 IDA .. .. 0 0 0 0 0 0 0 0 102 BULGARIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 452 499 457 471 354 456 459 307 Public and publicly guaranteed .. .. 452 479 443 458 333 424 427 264 Official creditors .. .. 14 187 154 153 144 139 137 103 Multilateral .. .. 13 75 65 64 69 81 85 76 Concessional .. .. 0 0 0 0 0 0 0 1 Bilateral .. .. 0 113 88 89 75 59 52 27 Concessional .. .. 0 9 8 7 6 10 9 7 Private creditors .. .. 438 292 290 305 189 285 290 161 Bonds .. .. 15 279 275 304 188 284 289 159 Commercial banks .. .. 337 12 14 1 0 0 1 2 Other private .. .. 85 1 0 0 0 0 0 0 Private nonguaranteed .. .. 0 20 13 13 21 32 32 43 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 20 13 13 21 32 32 43 Memo: IBRD .. .. 0 30 31 37 42 49 48 41 IDA .. .. 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. -441 -758 -604 -229 57 -311 -255 -186 Public and publicly guaranteed .. .. -441 -776 -594 -313 -120 -363 -375 -438 Official 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 4 Private 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 -4 Private 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 53 119 253 Memo: 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 1,060 Public and publicly guaranteed .. .. 1,316 934 796 835 644 769 829 584 Official 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 24 Private 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 4 Private nonguaranteed .. .. 0 43 34 222 337 261 132 477 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 43 34 222 337 261 132 477 Memo: IBRD .. .. 0 43 47 57 64 75 80 78 IDA .. .. 0 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. 271 782 920 827 800 893 737 611 Official creditors .. .. 25 776 920 817 788 780 629 513 Private creditors .. .. 246 7 0 10 12 112 108 98 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 13.4 28.7 Deutsche mark .. .. 33.9 5.0 4.3 4.5 4.6 3.7 .. .. French franc .. .. 0.5 0.5 0.4 0.4 0.3 0.2 .. .. Japanese yen .. .. 6.6 7.4 6.3 5.6 6.0 5.5 4.6 3.9 Pound sterling .. .. 0.3 0.3 0.3 0.2 0.2 0.1 0.0 0.0 Swiss franc .. .. 7.7 1.0 1.0 0.8 0.5 0.3 0.1 0.1 U.S.dollars .. .. 42.1 69.1 74.3 79.9 79.9 81.6 80.6 66.0 Multiple currency .. .. 2.5 5.5 6.0 1.0 1.2 1.3 1.2 1.2 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 6.3 11.3 7.5 7.5 7.4 7.3 0.1 0.1 103 BULGARIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 17 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 0 Debt forgiven .. .. 0 5 0 8 2 10 1 7 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 0 16 7 0 150 1 201 0 of which debt buyback .. .. 0 0 0 0 30 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 9.1 6.5 6.2 4.1 5.0 6.5 6.6 3.3 Maturity (years) .. .. 3.5 14.7 13.7 21.4 16.4 15.6 10.9 24.8 Grace period (years) .. .. 2.4 6.1 6.8 6.7 6.5 4.5 5.9 3.6 Grant element (%) .. .. 2.3 20.3 22.6 40.6 29.2 20.1 18.3 46.7 Official creditors Interest (%) .. .. 9.3 6.5 6.2 4.1 4.6 6.2 5.5 3.3 Maturity (years) .. .. 7.2 14.7 13.7 21.7 16.5 15.5 18.6 24.8 Grace period (years) .. .. 3.0 6.1 6.8 6.9 4.6 4.4 5.5 3.6 Grant element (%) .. .. 2.8 20.3 22.6 41.2 31.5 21.6 28.2 46.7 Private creditors Interest (%) .. .. 9.1 0.0 0.0 5.7 6.2 7.6 7.3 0.0 Maturity (years) .. .. 3.2 0.0 0.0 9.7 16.2 16.0 6.2 0.0 Grace period (years) .. .. 2.3 0.0 0.0 0.9 11.8 4.9 6.2 0.0 Grant element (%) .. .. 2.3 0.0 0.0 15.7 22.8 13.2 12.2 0.0 Memorandum items Commitments .. .. 563 146 431 432 483 700 362 143 Official creditors .. .. 52 146 431 423 355 575 138 143 Private creditors .. .. 511 0 0 9 128 125 224 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 168 166 106 62 41 29 16 10 7 3 Principal 667 596 642 665 981 581 433 423 414 196 Interest 536 510 475 439 398 344 301 273 246 221 Official creditors Disbursements 106 141 95 62 41 29 16 10 7 3 Principal 351 304 254 298 270 260 163 130 111 107 Interest 105 91 80 72 62 52 44 38 33 29 Bilateral creditors Disbursements 64 67 44 27 14 9 3 1 0 0 Principal 189 171 32 65 31 31 31 29 22 23 Interest 28 19 13 12 11 10 10 9 8 7 Multilateral creditors Disbursements 42 74 52 35 26 20 13 9 7 3 Principal 162 133 222 234 239 229 132 101 89 85 Interest 77 72 67 60 51 42 34 29 25 21 Private creditors Disbursements 62 25 11 0 0 0 0 0 0 0 Principal 316 292 388 367 711 321 270 294 303 89 Interest 431 419 396 367 336 291 257 235 213 193 Commercial banks Disbursements 62 25 11 0 0 0 0 0 0 0 Principal 1 2 15 15 29 13 13 6 6 6 Interest 5 7 8 7 6 5 5 4 4 3 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 315 289 374 352 682 309 257 288 297 83 Interest 426 412 388 360 330 286 252 231 210 189 104 BURKINA FASO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 21 330 834 1,301 1,303 1,459 1,579 1,409 1,492 1,580 Long-term debt (LDOD) 21 281 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399 Public and publicly guaranteed 21 281 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 15 0 81 92 112 121 112 117 126 Short-term debt 0 35 84 53 66 59 103 84 63 54 of 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 0 Memo: 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 0 Memo: export credits 0 0 200 83 86 64 61 40 35 44 TOTAL DEBT FLOWS Disbursements 2 70 79 112 89 108 125 96 160 148 Long-term debt 2 65 79 103 71 90 108 88 139 134 IMF purchases 1 4 0 10 18 18 17 7 21 14 Principal repayments 2 11 19 31 33 35 44 33 25 35 Long-term debt 2 11 18 30 31 32 38 26 18 27 IMF repurchases 0 0 1 1 2 3 5 7 7 8 Net flows on debt 1 56 70 81 72 66 127 44 115 106 of which short-term debt 0 -3 10 0 15 -7 46 -19 -20 -7 Interest payments (INT) 0 12 16 18 18 19 21 14 13 17 Long-term debt 0 6 10 15 15 15 17 12 10 15 IMF charges 0 0 0 1 0 0 1 1 1 1 Short-term debt 0 5 6 2 3 3 3 1 2 2 Net transfers on debt 0 45 54 64 53 47 106 30 102 89 Total debt service paid (TDS) 2 22 34 49 51 54 64 47 38 53 Long-term debt 2 17 28 45 47 48 55 38 28 42 IMF repurchases and charges 0 0 1 1 2 3 6 7 7 9 Short-term debt (interest only) 0 5 6 2 3 3 3 1 2 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 13 142 219 325 262 281 309 294 331 343 Net flow of long-term debt (ex. IMF) 0 55 60 73 40 58 70 62 121 106 Foreign direct investment (net) 0 0 1 17 13 10 13 23 9 8 Portfolio equity flows 0 0 0 0 0 0 0 -3 1 0 Grants (excluding technical coop.) 13 88 158 235 210 214 226 212 200 228 Memo: 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 13 127 203 310 247 266 292 280 316 324 Interest on long-term debt 0 6 10 15 15 15 17 12 10 15 Profit remittances on FDI 0 9 6 0 0 0 0 3 5 4 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 456 1,924 3,113 2,780 2,600 2,792 2,806 2,596 2,776 3,120 Exports of goods, serv. & inc. (XGS) .. 376 506 .. .. .. .. 313 319 329 Worker remit. & comp. of employees 0 150 140 80 80 80 80 67 50 50 Imports of goods & services (MGS) .. 596 776 .. .. .. .. 691 690 .. International reserves (RES) 36 75 305 339 345 373 295 244 261 313 Current account balance .. -49 -77 .. .. .. .. -319 -291 .. 4. DEBT INDICATORS EDT / XGS (%) .. 88.0 164.6 .. .. .. .. 450.0 467.8 480.1 EDT / GNI (%) 4.6 17.2 26.8 46.8 50.1 52.3 56.3 54.3 53.7 50.6 TDS / XGS (%) .. 5.9 6.8 .. .. .. .. 14.9 11.9 16.0 INT / XGS (%) .. 3.1 3.1 .. .. .. .. 4.4 4.0 5.3 INT / GNI (%) 0.1 0.6 0.5 0.6 0.7 0.7 0.7 0.5 0.5 0.6 RES / EDT (%) 174.9 22.6 36.6 26.0 26.5 25.6 18.7 17.3 17.5 19.8 RES / 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 3.4 Concessional / EDT (%) 84.3 67.0 71.6 83.9 83.0 83.5 82.4 82.5 83.8 85.1 Multilateral / EDT (%) 0.1 42.9 67.7 78.4 77.0 78.2 75.1 72.2 71.9 78.9 105 BURKINA FASO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 21 281 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399 Public and publicly guaranteed 21 281 749 1,167 1,145 1,287 1,355 1,212 1,312 1,399 Official 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 89 138 132 129 132 160 181 213 133 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 77 282 636 636 710 753 593 636 745 DISBURSEMENTS 2 65 79 103 71 90 108 88 139 134 Public and publicly guaranteed 2 65 79 103 71 90 108 88 139 134 Official creditors 2 59 79 103 71 90 108 88 139 134 Multilateral 0 26 45 90 66 88 92 73 115 127 Concessional 0 22 34 89 65 88 92 71 111 124 Bilateral 2 33 34 13 4 2 16 16 24 7 Concessional 1 19 34 13 4 2 16 16 13 7 Private creditors 0 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 0 6 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 15 50 35 58 63 38 71 68 PRINCIPAL REPAYMENTS 2 11 18 30 31 32 38 26 18 27 Public and publicly guaranteed 2 11 18 30 31 32 38 26 18 27 Official creditors 1 8 18 30 31 32 38 26 18 27 Multilateral 0 3 13 25 26 28 30 20 14 24 Concessional 0 1 10 20 20 22 25 16 11 18 Bilateral 1 5 4 5 5 5 8 6 5 4 Concessional 1 3 3 4 4 5 5 5 4 3 Private creditors 0 2 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 4 4 6 6 1 2 2 NET FLOWS ON DEBT 0 55 60 73 40 58 70 62 121 106 Public and publicly guaranteed 0 55 60 73 40 58 70 62 121 106 Official 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 4 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 14 46 30 52 57 36 69 65 106 BURKINA FASO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 6 10 15 15 15 17 12 10 15 Public and publicly guaranteed 0 6 10 15 15 15 17 12 10 15 Official creditors 0 4 10 15 15 15 17 12 10 15 Multilateral 0 2 7 13 12 12 13 9 6 12 Concessional 0 1 4 10 9 9 11 8 6 11 Bilateral 0 2 3 2 4 4 4 2 3 2 Concessional 0 1 3 2 4 4 4 2 3 2 Private 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 2 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 4 5 5 5 4 2 4 NET TRANSFERS ON DEBT 0 48 51 58 24 42 53 50 111 92 Public and publicly guaranteed 0 48 51 58 24 42 53 50 111 92 Official 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 2 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 11 12 42 26 47 52 32 67 61 DEBT SERVICE (LTDS) 2 17 28 45 47 48 55 38 28 42 Public and publicly guaranteed 2 17 28 45 47 48 55 38 28 42 Official creditors 2 12 28 45 47 48 55 38 28 42 Multilateral 0 5 21 38 38 39 43 30 20 36 Concessional 0 3 14 29 30 31 35 24 17 30 Bilateral 2 7 7 7 9 8 12 8 8 6 Concessional 1 3 6 5 8 8 9 8 7 5 Private creditors 0 5 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 5 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 9 9 11 11 5 5 7 UNDISBURSED DEBT 10 218 540 371 426 518 496 433 602 677 Official creditors 9 214 525 356 413 504 496 433 602 677 Private creditors 1 4 15 15 13 14 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.3 3.6 Deutsche mark 10.0 12.1 0.0 0.1 0.1 0.1 0.1 0.0 .. .. French franc 32.6 31.3 16.6 3.9 3.8 3.3 4.0 2.8 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 20.2 0.7 0.5 0.0 0.0 0.0 0.0 0.1 0.1 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 0.0 28.8 39.2 60.6 62.0 62.2 63.3 60.2 60.7 60.5 Multiple currency 0.0 8.9 15.3 19.1 19.0 18.6 17.9 19.0 16.7 17.0 Special drawing rights 0.0 0.0 2.1 2.1 2.0 2.3 2.1 2.3 2.5 2.6 All other currencies 37.3 18.2 26.1 14.2 13.2 13.6 12.6 15.5 14.6 16.4 107 BURKINA FASO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 44 0 0 14 13 12 25 Debt stock rescheduled .. .. 0 44 0 0 0 12 0 23 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 1 0 0 Official .. .. 0 0 0 0 0 1 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 5 3 1 1 0 4 9 22 Memo: interest forgiven .. .. 0 0 0 0 0 5 6 3 Debt stock reduction .. .. 0 16 0 0 0 161 0 47 of which debt buyback .. .. 0 0 0 0 0 92 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.3 4.3 2.5 1.2 0.9 2.8 1.0 1.4 0.9 1.4 Maturity (years) 36.3 21.5 27.6 31.6 39.8 21.8 32.7 37.1 39.8 33.6 Grace period (years) 8.1 6.5 8.7 8.5 9.7 5.9 8.8 7.8 10.2 8.1 Grant element (%) 61.9 37.8 59.1 70.3 78.2 49.3 72.3 70.2 77.7 69.6 Official creditors Interest (%) 1.7 4.0 2.5 1.2 0.9 2.8 1.0 1.4 0.9 1.4 Maturity (years) 40.6 23.0 27.6 31.6 39.8 21.8 32.7 37.1 39.8 33.6 Grace period (years) 8.9 7.0 8.7 8.5 9.7 5.9 8.8 7.8 10.2 8.1 Grant element (%) 69.4 40.9 59.1 70.3 78.2 49.3 72.3 70.2 77.7 69.6 Private creditors Interest (%) 6.8 7.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 7.2 5.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.8 1.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 11.3 6.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 9 115 90 24 153 119 119 53 315 166 Official creditors 8 104 90 24 153 119 119 53 315 166 Private creditors 1 10 0 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 142 138 111 87 69 47 32 18 15 8 Principal 48 49 51 52 55 57 60 60 62 69 Interest 16 18 18 18 18 18 17 17 16 15 Official creditors Disbursements 142 138 111 87 69 47 32 18 15 8 Principal 48 49 51 52 55 57 60 60 62 69 Interest 16 18 18 18 18 18 17 17 16 15 Bilateral creditors Disbursements 21 26 18 12 7 4 2 1 0 0 Principal 12 10 11 11 12 12 12 11 11 11 Interest 2 3 3 3 3 3 2 2 2 2 Multilateral creditors Disbursements 121 112 93 76 62 43 30 18 15 8 Principal 36 39 41 41 43 46 48 49 52 58 Interest 14 15 15 16 16 15 15 14 14 13 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 108 BURUNDI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 15 166 907 1,127 1,065 1,119 1,131 1,103 1,070 1,204 Long-term debt (LDOD) 7 118 851 1,081 1,022 1,079 1,050 1,031 979 1,095 Public and publicly guaranteed 7 118 851 1,081 1,022 1,079 1,050 1,031 979 1,095 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 8 36 43 38 28 20 12 7 2 13 Short-term debt 0 12 13 8 16 20 70 65 88 96 of 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 0 Memo: 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 0 Memo: 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 53 Long-term debt 1 39 96 35 19 31 20 39 14 40 IMF purchases 3 6 0 0 0 0 0 0 0 12 Principal repayments 1 4 28 21 20 21 21 14 16 17 Long-term debt 0 4 28 12 12 13 14 9 12 14 IMF repurchases 0 0 1 9 8 9 7 5 4 3 Net flows on debt 3 40 65 4 3 10 46 17 13 35 of which short-term debt 0 -1 -3 -10 4 1 47 -9 16 -1 Interest payments (INT) 0 4 14 10 9 9 8 8 7 7 Long-term debt 0 2 12 9 9 8 6 4 5 5 IMF charges 0 1 0 0 0 0 0 0 0 0 Short-term debt 0 2 2 0 0 1 2 3 2 2 Net transfers on debt 3 36 51 -5 -6 1 38 9 6 29 Total debt service paid (TDS) 1 9 42 31 29 30 29 22 23 23 Long-term debt 1 6 40 21 21 21 20 14 17 19 IMF repurchases and charges 0 1 1 9 8 9 7 5 4 3 Short-term debt (interest only) 0 2 2 0 0 1 2 3 2 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 8 78 204 95 53 69 66 101 136 146 Net flow of long-term debt (ex. IMF) 1 35 68 23 7 18 6 30 2 26 Foreign direct investment (net) 0 5 1 0 0 0 0 12 0 0 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 7 39 135 72 46 51 60 59 134 119 Memo: 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 96 131 141 Interest on long-term debt 0 2 12 9 9 8 6 4 5 5 Profit remittances on FDI 0 0 3 1 1 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 235 922 1,117 886 945 870 703 663 679 712 Exports of goods, serv. & inc. (XGS) .. .. 98 57 100 75 63 58 48 39 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. .. 341 159 158 185 141 165 162 160 International reserves (RES) 15 105 112 146 118 70 53 38 18 59 Current 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 3,048.8 EDT / GNI (%) 6.4 18.0 81.2 127.1 112.8 128.7 160.9 166.2 157.6 169.2 TDS / XGS (%) .. .. 43.4 53.3 28.9 40.1 45.6 37.8 48.0 59.0 INT / XGS (%) .. .. 14.4 16.7 8.9 11.7 12.6 13.7 13.7 17.2 INT / GNI (%) 0.1 0.5 1.3 1.1 0.9 1.0 1.1 1.2 1.0 1.0 RES / EDT (%) 102.8 63.2 12.3 13.0 11.1 6.3 4.7 3.4 1.7 4.9 RES / MGS (months) .. .. 3.9 11.0 8.9 4.6 4.5 2.7 1.3 4.4 Short-term / EDT (%) 0.0 7.2 1.5 0.7 1.5 1.8 6.2 5.9 8.3 8.0 Concessional / EDT (%) 16.3 62.6 85.9 92.3 92.8 93.7 90.4 90.9 88.8 88.2 Multilateral / EDT (%) 30.2 35.7 72.7 81.8 81.9 82.3 79.4 80.3 80.0 78.7 109 BURUNDI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 7 118 851 1,081 1,022 1,079 1,050 1,031 979 1,095 Public and publicly guaranteed 7 118 851 1,081 1,022 1,079 1,050 1,031 979 1,095 Official 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 49 182 159 149 157 150 142 117 139 Private 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 4 Private 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 0 Memo: IBRD 3 0 0 0 0 0 0 0 0 0 IDA 1 37 398 588 566 603 599 600 582 648 DISBURSEMENTS 1 39 96 35 19 31 20 39 14 40 Public and publicly guaranteed 1 39 96 35 19 31 20 39 14 40 Official creditors 1 39 93 35 19 30 20 36 12 40 Multilateral 1 21 64 34 16 30 20 36 12 36 Concessional 0 20 60 33 16 30 20 36 12 36 Bilateral 0 18 30 1 3 0 0 0 0 4 Concessional 0 18 30 1 3 0 0 0 0 0 Private creditors 0 0 2 0 0 1 0 3 2 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 2 0 0 1 0 3 2 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 49 17 12 24 15 36 12 36 PRINCIPAL REPAYMENTS 0 4 28 12 12 13 14 9 12 14 Public and publicly guaranteed 0 4 28 12 12 13 14 9 12 14 Official creditors 0 1 19 12 12 13 14 9 12 12 Multilateral 0 0 11 11 12 12 13 9 11 12 Concessional 0 0 6 5 8 8 11 9 11 12 Bilateral 0 1 8 0 0 0 0 0 1 0 Concessional 0 1 8 0 0 0 0 0 1 0 Private creditors 0 3 8 1 0 0 0 0 0 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 5 0 0 0 0 0 0 0 Other private 0 1 3 1 0 0 0 0 0 2 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 3 4 6 8 9 10 11 NET FLOWS ON DEBT 1 35 68 23 7 18 6 30 2 26 Public and publicly guaranteed 1 35 68 23 7 18 6 30 2 26 Official 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 0 Private 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 -2 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 12 48 14 7 18 8 28 2 25 110 BURUNDI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 2 12 9 9 8 6 4 5 5 Public and publicly guaranteed 0 2 12 9 9 8 6 4 5 5 Official creditors 0 1 11 9 9 8 6 4 5 5 Multilateral 0 1 9 9 9 7 6 4 4 5 Concessional 0 0 5 6 7 6 6 4 4 5 Bilateral 0 0 2 0 0 1 0 0 0 0 Concessional 0 0 2 0 0 1 0 0 0 0 Private creditors 0 1 1 0 0 0 0 0 0 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 0 1 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 4 5 4 4 4 4 4 NET TRANSFERS ON DEBT 1 33 56 14 -2 10 0 26 -3 22 Public and publicly guaranteed 1 33 56 14 -2 10 0 26 -3 22 Official 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 0 Private 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 -2 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 11 45 10 3 15 3 23 -2 21 DEBT SERVICE (LTDS) 1 6 40 21 21 21 20 14 17 19 Public and publicly guaranteed 1 6 40 21 21 21 20 14 17 19 Official creditors 0 2 30 21 21 20 20 14 16 17 Multilateral 0 1 20 20 21 19 20 14 15 16 Concessional 0 0 10 11 15 14 17 14 15 16 Bilateral 0 1 10 1 0 1 0 0 1 0 Concessional 0 1 10 1 0 1 0 0 1 0 Private creditors 0 4 9 1 0 0 0 0 0 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 4 1 0 0 0 0 0 2 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 7 9 9 12 13 14 16 UNDISBURSED DEBT 2 184 457 232 145 119 124 113 143 178 Official creditors 2 184 457 232 145 119 89 81 113 154 Private creditors 0 0 0 0 0 0 35 32 30 24 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 8.8 9.3 Deutsche mark 17.8 1.8 0.5 0.1 0.1 0.1 0.0 0.0 .. .. French franc 0.0 1.1 4.4 5.8 5.3 5.4 4.7 4.5 .. .. Japanese yen 0.0 0.0 2.0 2.6 2.5 2.6 3.1 2.8 2.6 2.5 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 15.7 34.4 50.3 55.3 56.4 56.9 57.9 59.4 60.8 60.4 Multiple currency 34.6 16.1 21.6 22.9 22.3 21.7 21.4 20.7 21.0 20.5 Special drawing rights 0.0 0.0 2.8 1.9 1.8 1.8 1.7 1.6 1.6 1.5 All other currencies 31.9 46.6 18.3 11.5 11.6 11.6 11.2 11.0 5.3 5.8 111 BURUNDI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 105 0 0 0 0 0 16 0 Memo: interest forgiven .. .. 1 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.9 1.3 0.9 0.0 0.0 2.0 1.5 1.8 0.8 0.8 Maturity (years) 4.7 41.8 40.1 0.0 0.0 3.1 25.7 33.7 39.6 39.8 Grace period (years) 2.2 8.9 10.3 0.0 0.0 0.2 7.0 8.8 10.1 10.3 Grant element (%) 20.3 73.5 78.7 0.0 0.0 12.2 60.8 68.0 80.4 80.6 Official creditors Interest (%) 2.3 1.3 0.9 0.0 0.0 0.0 0.8 1.8 0.8 0.8 Maturity (years) 4.8 41.8 40.1 0.0 0.0 0.0 38.3 33.7 39.6 39.8 Grace period (years) 2.5 8.9 10.3 0.0 0.0 0.0 9.2 8.8 10.1 10.3 Grant element (%) 22.5 73.5 78.7 0.0 0.0 0.0 75.9 68.0 80.4 80.6 Private creditors Interest (%) 7.6 0.0 0.0 0.0 0.0 2.0 2.0 0.0 0.0 0.0 Maturity (years) 3.6 0.0 0.0 0.0 0.0 3.1 15.3 0.0 0.0 0.0 Grace period (years) 0.1 0.0 0.0 0.0 0.0 0.2 5.3 0.0 0.0 0.0 Grant element (%) 3.8 0.0 0.0 0.0 0.0 12.2 48.3 0.0 0.0 0.0 Memorandum items Commitments 1 102 126 0 0 1 64 42 48 90 Official creditors 1 102 126 0 0 0 29 42 48 90 Private creditors 0 0 0 0 0 1 35 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 70 34 20 15 11 9 6 4 4 2 Principal 38 35 32 33 34 34 36 35 37 38 Interest 9 9 9 8 8 8 7 7 7 7 Official creditors Disbursements 56 27 18 14 11 9 6 4 4 2 Principal 37 33 29 30 31 32 34 33 35 35 Interest 9 8 8 8 8 7 7 7 7 6 Bilateral creditors Disbursements 2 1 0 0 0 0 0 0 0 0 Principal 13 10 7 6 6 6 6 4 3 3 Interest 2 1 1 1 1 1 1 0 0 0 Multilateral creditors Disbursements 54 26 18 14 11 9 6 4 4 2 Principal 24 24 23 24 25 25 28 29 31 32 Interest 7 7 7 7 7 7 7 6 6 6 Private creditors Disbursements 14 7 2 1 0 0 0 0 0 0 Principal 1 1 3 3 3 3 3 3 3 3 Interest 0 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 14 7 2 1 0 0 0 0 0 0 Principal 1 1 3 3 3 3 3 3 3 3 Interest 0 0 0 0 0 0 0 0 0 0 112 CAMBODIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 1,845 2,354 2,383 2,465 2,517 2,634 2,703 2,907 Long-term debt (LDOD) .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594 Public and publicly guaranteed .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594 Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 27 69 65 66 73 73 80 96 Short-term debt .. .. 136 107 125 137 152 226 224 216 of 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 0 Memo: 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 0 Memo: export credits .. .. 8 10 13 5 3 3 4 3 TOTAL DEBT FLOWS Disbursements .. .. 0 77 40 56 59 90 113 169 Long-term debt .. .. 0 77 40 56 48 79 92 147 IMF purchases 0 0 0 0 0 0 11 11 21 22 Principal repayments .. .. 0 5 4 6 18 14 13 14 Long-term debt .. .. 0 5 4 4 15 7 1 1 IMF repurchases 0 0 0 0 0 1 3 7 12 12 Net flows on debt .. .. 15 73 49 55 53 127 85 101 of which short-term debt .. .. 15 1 13 5 12 51 -15 -55 Interest payments (INT) .. .. 30 4 5 6 14 17 8 7 Long-term debt .. .. 29 2 3 4 12 12 5 6 IMF charges 0 0 0 1 1 1 1 1 1 1 Short-term debt .. .. 1 1 1 2 2 5 3 1 Net transfers on debt .. .. -15 69 44 49 39 110 77 93 Total debt service paid (TDS) .. .. 30 9 9 12 32 31 21 21 Long-term debt .. .. 29 7 8 8 27 19 5 7 IMF repurchases and charges 0 0 0 1 1 2 4 7 13 13 Short-term debt (interest only) .. .. 1 1 1 2 2 5 3 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 23 559 411 465 385 421 434 379 Net flow of long-term debt (ex. IMF) .. .. 0 72 36 52 33 72 91 146 Foreign direct investment (net) .. .. 0 294 204 243 230 149 148 54 Portfolio equity flows .. .. 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. 23 194 171 170 122 201 194 179 Memo: 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 .. .. -6 552 403 459 360 396 423 365 Interest on long-term debt .. .. 29 2 3 4 12 12 5 6 Profit remittances on FDI .. .. 0 4 4 2 13 13 6 9 Memo: official net transfers .. .. -6 266 207 222 146 261 281 319 private net transfers .. .. 0 286 196 238 215 136 142 45 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 1,115 3,111 3,040 2,845 2,979 3,285 3,292 3,541 Exports of goods, serv. & inc. (XGS) .. .. .. 829 922 1,096 1,555 1,997 2,263 2,521 Worker remit. & comp. of employees .. .. 0 12 12 72 82 103 113 123 Imports of goods & services (MGS) .. .. .. 1,385 1,311 1,494 2,033 2,457 2,635 2,912 International reserves (RES) .. .. .. 266 299 439 509 611 697 913 Current account balance .. .. .. -185 -210 -175 -188 -135 -86 -64 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 283.9 258.3 224.9 161.9 131.9 119.4 115.3 EDT / GNI (%) .. .. 165.5 75.7 78.4 86.6 84.5 80.2 82.1 82.1 TDS / XGS (%) .. .. .. 1.1 1.0 1.1 2.1 1.5 0.9 0.8 INT / XGS (%) .. .. .. 0.5 0.5 0.6 0.9 0.9 0.4 0.3 INT / GNI (%) .. .. 2.7 0.1 0.2 0.2 0.5 0.5 0.2 0.2 RES / EDT (%) .. .. .. 11.3 12.5 17.8 20.2 23.2 25.8 31.4 RES / MGS (months) .. .. .. 2.3 2.7 3.5 3.0 3.0 3.2 3.8 Short-term / EDT (%) .. .. 7.3 4.5 5.2 5.5 6.0 8.6 8.3 7.4 Concessional / EDT (%) .. .. 91.2 90.7 90.5 90.4 90.2 88.0 88.2 88.6 Multilateral / EDT (%) .. .. 0.1 8.0 9.0 11.2 12.9 14.5 16.3 20.9 113 CAMBODIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594 Public and publicly guaranteed .. .. 1,683 2,177 2,193 2,261 2,293 2,335 2,400 2,594 Official 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 1,968 Private 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 0 Private 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 0 Memo: 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 92 147 Public and publicly guaranteed .. .. 0 77 40 56 48 79 92 147 Official 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 23 Private 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 0 Private 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 0 Memo: 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 1 Public and publicly guaranteed .. .. 0 5 4 4 15 7 1 1 Official 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 1 Private 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 0 Private 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 0 Memo: 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 91 146 Public and publicly guaranteed .. .. 0 72 36 52 33 72 91 146 Official 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 22 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 46 30 19 27 37 40 47 114 CAMBODIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 29 2 3 4 12 12 5 6 Public and publicly guaranteed .. .. 29 2 3 4 12 12 5 6 Official 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 1 Private 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 0 Private 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 0 Memo: 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 87 140 Public and publicly guaranteed .. .. -29 69 33 48 21 60 87 140 Official 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 21 Private 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 0 Private 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 0 Memo: 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 7 Public and publicly guaranteed .. .. 29 7 8 8 27 19 5 7 Official 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 2 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 1 1 1 1 1 1 2 UNDISBURSED DEBT .. .. 651 216 231 214 332 436 439 473 Official creditors .. .. 651 216 231 214 332 436 439 473 Private creditors .. .. 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 0.8 0.8 Deutsche mark .. .. 0.4 0.1 0.1 0.1 0.1 0.1 .. .. French franc .. .. 0.5 1.1 0.9 1.0 0.8 0.8 .. .. Japanese yen .. .. 0.6 0.3 0.3 0.3 0.3 0.3 0.3 0.7 Pound sterling .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 12.6 28.4 28.9 29.0 29.4 30.1 31.5 34.6 Multiple currency .. .. 0.0 3.7 3.8 5.2 6.0 6.8 6.7 7.1 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.4 All other currencies .. .. 86.0 66.4 66.0 64.4 63.3 61.9 60.5 56.5 115 CAMBODIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 12 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 7 3 0 0 0 0 0 Official .. .. 0 7 3 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 4 2 0 0 0 0 0 Official .. .. 0 4 2 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 0.0 3.3 1.1 0.5 1.1 1.3 0.9 1.1 Maturity (years) .. .. 0.0 39.7 38.3 39.5 37.6 30.3 34.5 30.5 Grace period (years) .. .. 0.0 10.2 9.7 10.0 9.7 8.2 9.9 8.8 Grant element (%) .. .. 0.0 57.8 76.0 82.5 76.2 68.6 76.8 71.6 Official creditors Interest (%) .. .. 0.0 3.3 1.1 0.5 1.1 1.3 0.9 1.1 Maturity (years) .. .. 0.0 39.7 38.3 39.5 37.6 30.3 34.5 30.5 Grace period (years) .. .. 0.0 10.2 9.7 10.0 9.7 8.2 9.9 8.8 Grant element (%) .. .. 0.0 57.8 76.0 82.5 76.2 68.6 76.8 71.6 Private creditors Interest (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. 0 94 75 31 175 185 131 152 Official creditors .. .. 0 94 75 31 175 185 131 152 Private creditors .. .. 0 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 118 96 68 47 33 21 11 7 3 2 Principal 45 47 50 51 52 57 58 57 61 57 Interest 18 18 19 20 21 21 21 20 20 18 Official creditors Disbursements 118 96 68 47 33 21 11 7 3 2 Principal 45 47 50 51 52 57 58 57 61 57 Interest 18 18 19 20 21 21 21 20 20 18 Bilateral creditors Disbursements 23 21 15 10 7 6 3 2 2 1 Principal 44 45 45 42 40 40 36 30 32 27 Interest 11 11 11 10 10 10 9 9 8 8 Multilateral creditors Disbursements 95 75 54 38 26 16 8 5 1 1 Principal 2 3 6 9 12 17 22 27 29 30 Interest 7 7 9 9 11 11 11 12 11 11 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 116 CAMEROON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 145 2,588 6,657 9,622 9,371 9,957 9,476 9,277 8,367 8,502 Long-term debt (LDOD) 145 2,251 5,577 8,290 7,964 8,403 8,002 7,741 7,166 7,417 Public and publicly guaranteed 136 2,073 5,347 7,990 7,766 8,224 7,647 7,424 6,940 7,240 Private nonguaranteed 9 178 230 300 198 179 355 317 226 177 Use of IMF credit 0 59 121 72 93 156 196 235 244 307 Short-term debt 0 278 960 1,260 1,314 1,398 1,278 1,301 957 778 of 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 84 111 Memo: 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 5 246 398 320 328 296 299 115 137 Memo: export credits 0 0 2,193 2,858 2,620 2,404 2,253 2,171 2,071 2,063 TOTAL DEBT FLOWS Disbursements 39 626 713 230 296 260 306 340 154 136 Long-term debt 39 614 713 201 259 187 244 272 134 95 IMF purchases 0 12 0 29 37 73 62 69 20 41 Principal repayments 6 131 268 246 275 291 284 267 183 201 Long-term debt 6 114 267 240 263 274 266 250 181 201 IMF repurchases 0 17 1 6 11 16 18 17 2 0 Net flows on debt 33 538 682 -186 679 66 -80 -32 -268 -252 of which short-term debt 0 43 237 -169 657 97 -102 -105 -239 -187 Interest payments (INT) 5 149 250 261 231 235 262 288 152 156 Long-term debt 5 119 197 234 188 178 201 215 117 129 IMF charges 0 2 11 3 3 3 2 2 1 2 Short-term debt 0 28 42 24 40 55 59 72 34 25 Net transfers on debt 28 389 432 -446 447 -169 -342 -321 -420 -409 Total debt service paid (TDS) 11 280 518 507 506 526 546 556 335 358 Long-term debt 11 233 463 474 451 452 467 465 297 331 IMF repurchases and charges 0 19 13 9 14 19 20 19 3 2 Short-term debt (interest only) 0 28 42 24 40 55 59 72 34 25 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 70 659 646 235 180 241 208 225 239 327 Net flow of long-term debt (ex. IMF) 33 500 447 -39 -5 -87 -22 22 -47 -106 Foreign direct investment (net) 16 130 -113 35 45 50 40 31 67 86 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 21 29 313 239 139 278 190 172 219 347 Memo: 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 66 153 Interest on long-term debt 5 119 197 234 188 178 201 215 117 129 Profit remittances on FDI 0 115 139 66 69 53 53 67 57 44 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,022 5,618 10,674 8,518 8,506 8,234 8,932 8,285 8,091 8,663 Exports of goods, serv. & inc. (XGS) .. 2,108 2,535 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0 29 23 11 11 11 11 11 11 11 Imports of goods & services (MGS) .. 2,552 3,041 .. .. .. .. .. .. .. International reserves (RES) 81 206 37 14 10 10 13 220 340 640 Current account balance .. -445 -551 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 122.8 262.6 .. .. .. .. .. .. .. EDT / GNI (%) 14.2 46.1 62.4 113.0 110.2 120.9 106.1 112.0 103.4 98.1 TDS / XGS (%) .. 13.3 20.5 .. .. .. .. .. .. .. INT / XGS (%) .. 7.1 9.9 .. .. .. .. .. .. .. INT / GNI (%) 0.5 2.7 2.3 3.1 2.7 2.9 2.9 3.5 1.9 1.8 RES / EDT (%) 55.8 8.0 0.6 0.1 0.1 0.1 0.1 2.4 4.1 7.5 RES / MGS (months) .. 1.0 0.1 .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 10.8 14.4 13.1 14.0 14.0 13.5 14.0 11.4 9.2 Concessional / EDT (%) 74.1 33.7 27.4 43.7 45.6 46.2 45.5 45.8 50.3 52.9 Multilateral / EDT (%) 14.0 16.7 19.5 16.2 15.5 14.9 15.3 15.2 16.2 16.7 117 CAMEROON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 145 2,251 5,577 8,290 7,964 8,403 8,002 7,741 7,166 7,417 Public and publicly guaranteed 136 2,073 5,347 7,990 7,766 8,224 7,647 7,424 6,940 7,240 Official 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 3,417 Private 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 54 Private 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 9 178 230 300 198 179 355 317 226 177 Memo: IBRD 3 152 633 508 402 342 270 214 176 141 IDA 9 146 238 513 609 701 749 769 758 847 DISBURSEMENTS 39 614 713 201 259 187 244 272 134 95 Public and publicly guaranteed 28 564 661 176 245 177 188 233 134 95 Official creditors 27 250 554 176 245 177 188 233 134 95 Multilateral 9 72 195 106 147 106 119 114 71 73 Concessional 6 22 2 85 122 92 101 104 40 72 Bilateral 18 178 359 70 98 71 70 119 63 22 Concessional 15 120 106 70 98 70 70 112 63 22 Private creditors 1 314 107 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 115 10 0 0 0 0 0 0 0 Other private 1 199 96 0 0 0 0 0 0 0 Private nonguaranteed 11 50 53 25 14 10 55 39 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 11 50 53 25 14 10 55 39 0 0 Memo: IBRD 3 28 70 6 6 3 1 0 13 1 IDA 4 19 0 84 120 79 65 55 20 50 PRINCIPAL REPAYMENTS 6 114 267 240 263 274 266 250 181 201 Public and publicly guaranteed 5 82 137 227 238 254 163 163 90 153 Official creditors 4 29 96 192 224 220 158 159 90 153 Multilateral 0 10 66 144 161 123 115 95 48 83 Concessional 0 2 6 10 30 13 15 15 16 16 Bilateral 4 19 29 48 64 98 43 65 42 69 Concessional 3 12 17 3 20 61 32 45 37 61 Private creditors 0 53 41 35 14 34 6 4 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 18 28 29 8 7 4 4 0 0 Other private 0 35 14 7 6 27 2 0 0 0 Private nonguaranteed 2 32 130 13 25 20 102 86 91 49 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 32 130 13 25 20 102 86 91 49 Memo: IBRD 0 4 40 80 74 67 63 52 21 22 IDA 0 0 3 5 5 5 6 7 7 8 NET FLOWS ON DEBT 33 500 447 -39 -5 -87 -22 22 -47 -106 Public and publicly guaranteed 24 482 524 -51 7 -77 25 70 44 -58 Official 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 -39 Private 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 0 Private 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 -49 Memo: IBRD 3 24 30 -74 -68 -64 -62 -52 -8 -21 IDA 4 19 -3 80 115 74 59 49 12 42 118 CAMEROON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 5 119 197 234 188 178 201 215 117 129 Public and publicly guaranteed 4 104 180 229 178 174 180 198 105 122 Official creditors 4 42 124 220 173 159 179 198 105 121 Multilateral 1 18 71 99 90 58 56 48 32 44 Concessional 0 2 4 4 10 6 7 7 8 8 Bilateral 3 24 52 121 82 100 123 150 73 78 Concessional 2 13 28 32 51 56 48 59 28 37 Private creditors 1 62 56 9 6 15 1 1 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 23 40 7 2 5 1 1 0 0 Other private 1 39 16 2 4 10 0 0 0 0 Private nonguaranteed 1 15 17 5 10 4 21 17 12 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 15 17 5 10 4 21 17 12 8 Memo: IBRD 0 13 48 46 36 28 26 22 18 14 IDA 0 1 2 3 4 5 5 5 6 6 NET TRANSFERS ON DEBT 28 381 250 -273 -193 -265 -223 -193 -164 -235 Public and publicly guaranteed 19 378 344 -280 -171 -251 -155 -129 -61 -179 Official 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 -76 Private 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 0 Private 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 -56 Memo: IBRD 3 12 -18 -120 -104 -92 -88 -73 -26 -35 IDA 4 18 -4 76 110 69 54 43 6 36 DEBT SERVICE (LTDS) 11 233 463 474 451 452 467 465 297 331 Public and publicly guaranteed 9 186 317 456 416 428 343 362 195 274 Official creditors 8 71 219 412 397 379 337 357 195 274 Multilateral 1 28 138 243 251 181 170 143 80 127 Concessional 0 4 10 14 40 19 21 23 24 24 Bilateral 7 43 81 169 146 198 166 215 115 147 Concessional 5 25 46 36 70 117 80 103 65 98 Private creditors 1 115 97 44 19 49 7 5 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 41 67 36 10 12 5 5 0 0 Other private 1 74 30 8 10 37 2 0 0 0 Private nonguaranteed 2 47 147 18 35 24 124 103 103 56 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 47 147 18 35 24 124 103 103 56 Memo: IBRD 0 17 88 126 110 95 89 73 38 35 IDA 0 2 4 8 10 10 11 12 13 14 UNDISBURSED DEBT 104 619 1,839 991 812 1,066 847 584 695 762 Official creditors 103 545 1,521 987 808 1,062 847 584 695 762 Private creditors 1 74 318 4 4 4 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 59.1 59.7 Deutsche mark 10.7 8.6 17.0 17.7 17.4 17.4 16.6 16.2 .. .. French franc 15.8 36.8 31.5 35.7 34.0 33.7 31.5 30.2 .. .. Japanese yen 0.0 0.0 0.3 0.3 0.3 0.3 0.3 0.3 0.6 0.6 Pound sterling 2.8 2.0 2.3 1.0 1.9 1.8 1.9 1.8 1.5 1.5 Swiss franc 0.0 0.0 1.1 1.0 1.0 0.9 0.7 0.7 0.7 0.8 U.S.dollars 22.7 19.2 11.1 11.9 16.4 22.7 26.2 27.3 29.6 29.3 Multiple currency 4.9 10.5 16.2 10.5 9.0 4.0 3.9 3.5 3.4 3.0 Special drawing rights 0.0 0.0 0.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 All other currencies 43.1 22.9 20.5 21.7 19.7 19.0 18.6 19.8 4.8 5.0 119 CAMEROON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 10 1 73 23 20 4 408 190 Memo: interest forgiven .. .. 0 0 89 17 16 2 243 80 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 73.8 Official 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 73.8 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 224 152 110 81 56 38 27 13 10 5 Principal 437 450 468 449 386 378 354 297 303 262 Interest 213 242 222 202 185 172 161 149 139 127 Official creditors Disbursements 224 152 110 81 56 38 27 13 10 5 Principal 403 428 447 430 369 361 336 280 286 262 Interest 209 239 220 200 184 170 160 147 137 127 Bilateral creditors Disbursements 50 57 35 23 13 7 4 1 1 0 Principal 316 345 366 351 301 295 268 224 231 213 Interest 176 210 195 178 165 153 145 135 126 117 Multilateral creditors Disbursements 174 94 75 58 44 31 23 12 9 5 Principal 87 83 82 79 67 65 68 56 56 49 Interest 33 29 25 22 19 17 15 13 11 10 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 34 22 20 20 18 18 17 17 17 0 Interest 4 2 2 2 2 2 2 2 2 1 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 34 22 20 20 18 18 17 17 17 0 Interest 4 2 2 2 2 2 2 2 2 1 120 CAPE VERDE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 133.8 202.1 206.5 246.5 327.4 327.2 360.7 413.5 Long-term debt (LDOD) .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0 Public and publicly guaranteed .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.3 Short-term debt .. .. 4.7 6.1 7.0 5.7 19.4 12.6 19.4 25.2 of 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 0.3 Memo: 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 1.0 Memo: 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 37.7 Long-term debt .. .. 12.1 23.6 21.6 54.5 63.2 28.8 51.5 34.5 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.2 Principal repayments .. .. 3.7 5.0 10.3 15.6 16.2 11.1 9.8 14.3 Long-term debt .. .. 3.7 5.0 10.3 15.6 16.2 11.1 9.8 14.3 IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 10.7 -5.0 13.3 38.7 59.7 10.7 48.8 29.5 of which short-term debt .. .. 2.4 -23.6 2.0 -0.1 12.8 -7.1 7.0 6.1 Interest payments (INT) .. .. 2.0 2.8 4.2 3.8 3.8 5.0 4.2 7.4 Long-term debt .. .. 1.9 2.6 4.1 3.7 3.3 4.8 3.6 6.6 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 0.1 0.3 0.1 0.2 0.5 0.3 0.6 0.8 Net transfers on debt .. .. 8.7 -7.9 9.1 34.9 55.9 5.6 44.6 22.1 Total debt service paid (TDS) .. .. 5.7 7.8 14.5 19.5 20.0 16.1 14.0 21.7 Long-term debt .. .. 5.6 7.6 14.4 19.3 19.5 15.9 13.4 20.9 IMF repurchases and charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. .. 0.1 0.3 0.1 0.2 0.5 0.3 0.6 0.8 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 86.1 106.9 86.2 109.5 149.1 94.7 74.3 76.6 Net flow of long-term debt (ex. IMF) .. .. 8.3 18.6 11.3 38.8 46.9 17.7 41.7 20.2 Foreign direct investment (net) .. .. 0.3 28.5 11.6 9.0 53.3 33.4 9.1 14.8 Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 77.5 59.8 63.2 61.7 45.9 43.6 23.5 41.7 Memo: 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 65.9 Interest on long-term debt .. .. 1.9 2.6 4.1 3.7 3.3 4.8 3.6 6.6 Profit remittances on FDI .. .. 0.0 0.3 0.0 2.4 2.0 5.1 1.4 4.1 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 340.5 495.4 498.3 534.0 575.1 520.0 544.1 606.0 Exports of goods, serv. & inc. (XGS) .. .. 119.3 203.1 213.7 193.6 210.9 236.6 254.1 285.7 Worker remit. & comp. of employees .. .. 59.1 100.3 76.4 73.7 79.1 86.9 80.9 85.1 Imports of goods & services (MGS) .. .. 153.1 284.9 295.5 317.5 365.3 343.6 363.2 438.4 International reserves (RES) .. .. 77.0 27.6 19.3 8.3 42.6 28.3 45.4 79.8 Current account balance .. .. -3.8 -35.0 -29.7 -58.5 -74.2 -58.0 -55.7 -71.5 4. DEBT INDICATORS EDT / XGS (%) .. .. 112.1 99.5 96.7 127.4 155.2 138.3 141.9 144.7 EDT / GNI (%) .. .. 39.3 40.8 41.4 46.2 56.9 62.9 66.3 68.2 TDS / XGS (%) .. .. 4.8 3.9 6.8 10.0 9.5 6.8 5.5 7.6 INT / XGS (%) .. .. 1.7 1.4 2.0 2.0 1.8 2.1 1.6 2.6 INT / GNI (%) .. .. 0.6 0.6 0.8 0.7 0.7 1.0 0.8 1.2 RES / EDT (%) .. .. 57.5 13.6 9.4 3.4 13.0 8.6 12.6 19.3 RES / MGS (months) .. .. 6.0 1.2 0.8 0.3 1.4 1.0 1.5 2.2 Short-term / EDT (%) .. .. 3.5 3.0 3.4 2.3 5.9 3.9 5.4 6.1 Concessional / EDT (%) .. .. 70.2 76.3 78.3 78.3 78.3 82.1 84.1 83.6 Multilateral / EDT (%) .. .. 65.0 72.8 73.3 73.3 67.8 70.0 66.8 67.6 121 CAPE VERDE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0 Public and publicly guaranteed .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0 Official 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 72.6 Private 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 19.8 Private 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 0.0 Memo: 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 34.5 Public and publicly guaranteed .. .. 12.1 23.6 21.6 54.5 63.2 28.8 51.5 34.5 Official 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 0.0 Private 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 4.4 Private 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 0.0 Memo: 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 14.3 Public and publicly guaranteed .. .. 3.7 5.0 10.3 15.6 16.2 11.1 9.8 14.3 Official 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 2.6 Private 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 2.9 Private 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 0.0 Memo: 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 20.2 Public and publicly guaranteed .. .. 8.3 18.6 11.3 38.8 46.9 17.7 41.7 20.2 Official 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 -2.5 Private 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 1.4 Private 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 0.0 Memo: 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 21.7 122 CAPE VERDE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 1.9 2.6 4.1 3.7 3.3 4.8 3.6 6.6 Public and publicly guaranteed .. .. 1.9 2.6 4.1 3.7 3.3 4.8 3.6 6.6 Official 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 1.6 Private 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 1.1 Private 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 0.0 Memo: 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 13.5 Public and publicly guaranteed .. .. 6.5 16.0 7.2 35.2 43.7 12.9 38.1 13.5 Official 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 -4.1 Private 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 0.3 Private 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 0.0 Memo: 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 20.9 Public and publicly guaranteed .. .. 5.6 7.6 14.4 19.3 19.5 15.9 13.4 20.9 Official 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 4.2 Private 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 4.0 Private 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 0.0 Memo: 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 UNDISBURSED DEBT .. .. 99.9 132.9 116.4 146.8 153.3 126.9 123.6 122.9 Official creditors .. .. 99.9 130.5 115.5 145.8 152.4 118.6 110.5 110.0 Private creditors .. .. 0.0 2.4 0.9 0.9 0.9 8.3 13.1 12.9 Memorandum items Concessional LDOD .. .. 93.9 154.2 161.7 193.1 256.5 268.5 303.4 345.9 Variable rate LDOD .. .. 0.0 0.0 0.0 0.0 7.3 6.7 16.3 21.2 Public sector LDOD .. .. 129.1 196.0 199.5 240.9 308.0 314.6 341.3 385.0 Private sector LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 12.0 12.7 Deutsche mark .. .. 0.0 0.0 0.0 0.0 3.9 3.3 .. .. French franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 38.5 39.9 43.4 51.3 54.1 55.7 54.0 54.7 Multiple currency .. .. 16.1 6.2 5.9 4.9 4.0 4.5 4.7 4.6 Special drawing rights .. .. 0.1 3.8 4.1 3.9 3.3 3.1 2.8 2.7 All other currencies .. .. 45.3 50.1 46.6 39.9 34.6 33.4 26.6 25.3 123 CAPE VERDE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0.0 0.0 2.6 0.0 2.9 0.0 15.0 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 1.9 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 0.0 1.9 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 0.7 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 0.0 0.7 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 Debt forgiven .. .. 8.2 0.0 0.0 0.4 0.0 0.0 21.0 0.0 Memo: interest forgiven .. .. 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 1.5 0.8 0.8 1.2 0.8 3.1 2.7 0.9 Maturity (years) .. .. 42.6 39.8 50.1 21.6 34.7 28.7 20.5 40.2 Grace period (years) .. .. 9.1 10.3 10.6 5.4 9.2 5.8 4.8 9.5 Grant element (%) .. .. 73.0 80.6 83.5 47.5 72.4 50.2 45.9 75.6 Official creditors Interest (%) .. .. 1.5 0.8 0.8 1.2 0.8 0.8 1.3 0.9 Maturity (years) .. .. 42.6 39.8 50.1 21.6 34.7 45.9 26.1 43.5 Grace period (years) .. .. 9.1 10.3 10.6 5.4 9.2 9.3 6.1 10.3 Grant element (%) .. .. 73.0 80.6 83.5 47.5 72.4 80.1 60.1 80.1 Private creditors Interest (%) .. .. 0.0 0.0 0.0 0.0 0.0 5.5 5.5 1.0 Maturity (years) .. .. 0.0 0.0 0.0 0.0 0.0 10.6 8.5 7.0 Grace period (years) .. .. 0.0 0.0 0.0 0.0 0.0 2.2 2.2 2.0 Grant element (%) .. .. 0.0 0.0 0.0 0.0 0.0 18.6 16.0 30.6 Memorandum items Commitments .. .. 36 11 10 93 62 15 51 23 Official creditors .. .. 36 11 10 93 62 8 35 21 Private creditors .. .. 0 0 0 0 0 7 16 2 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 34.5 44.1 28.3 17.3 12.6 8.3 5.1 3.4 1.8 1.1 Principal 14.3 19.8 22.7 22.2 21.5 20.1 20.6 20.8 19.0 17.9 Interest 6.6 5.5 5.6 5.3 5.0 4.6 4.2 3.8 3.4 3.0 Official creditors Disbursements 30.1 35.6 24.3 17.0 12.4 8.3 5.1 3.4 1.8 1.1 Principal 11.4 15.3 17.7 17.9 17.3 17.0 17.5 18.0 16.4 16.2 Interest 5.5 4.6 4.7 4.6 4.4 4.2 3.9 3.6 3.3 3.0 Bilateral creditors Disbursements 0.0 2.6 3.6 2.6 1.9 1.3 0.7 0.4 0.4 0.2 Principal 3.3 5.5 7.3 8.3 8.5 8.0 7.7 7.7 5.4 5.4 Interest 1.8 1.4 1.3 1.2 1.1 0.9 0.8 0.6 0.5 0.4 Multilateral creditors Disbursements 30.1 33.0 20.7 14.4 10.6 7.1 4.4 2.9 1.4 0.9 Principal 8.1 9.8 10.5 9.7 8.8 9.0 9.8 10.2 11.0 10.8 Interest 3.7 3.2 3.3 3.4 3.3 3.2 3.1 2.9 2.8 2.6 Private creditors Disbursements 4.4 8.5 4.0 0.3 0.1 0.0 0.0 0.0 0.0 0.0 Principal 2.9 4.4 4.9 4.3 4.3 3.1 3.1 2.9 2.7 1.7 Interest 1.1 1.0 0.9 0.7 0.6 0.4 0.3 0.2 0.1 0.0 Commercial banks Disbursements 0.0 1.1 0.8 0.3 0.1 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.4 0.4 0.4 0.4 0.4 0.2 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 4.4 7.3 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 2.9 4.4 4.5 3.9 3.9 2.7 2.7 2.7 2.7 1.7 Interest 1.1 1.0 0.9 0.7 0.6 0.4 0.3 0.2 0.1 0.0 124 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 24 195 699 933 883 919 909 858 822 1,066 Long-term debt (LDOD) 24 147 624 850 802 841 826 796 757 980 Public and publicly guaranteed 24 147 624 850 802 841 826 796 757 980 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 24 37 28 19 18 23 21 31 33 Short-term debt 0 25 38 55 63 60 60 41 34 53 of 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 3 Memo: 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 26 Memo: 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 1 Long-term debt 2 25 113 27 6 3 5 16 0 1 IMF purchases 0 15 8 0 0 11 11 0 10 0 Principal repayments 2 7 17 8 12 25 12 8 9 0 Long-term debt 2 1 8 2 4 12 7 7 9 0 IMF repurchases 0 6 10 6 7 13 5 1 0 0 Net flows on debt -1 31 107 14 -3 -13 25 -14 -5 0 of which short-term debt 0 -2 3 -5 2 -2 21 -22 -6 0 Interest payments (INT) 1 3 12 5 4 8 7 6 4 1 Long-term debt 1 0 9 3 2 7 5 4 4 0 IMF charges 0 1 1 1 1 0 0 0 0 0 Short-term debt 0 2 2 1 1 1 2 1 0 0 Net transfers on debt -1 28 95 9 -8 -21 19 -20 -9 0 Total debt service paid (TDS) 3 10 29 13 16 33 19 14 13 1 Long-term debt 3 1 17 5 7 19 12 12 13 0 IMF repurchases and charges 0 7 11 7 8 13 5 1 0 0 Short-term debt (interest only) 0 2 2 1 1 1 2 1 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7 85 192 155 76 94 81 65 55 47 Net flow of long-term debt (ex. IMF) -1 24 105 25 2 -9 -2 9 -9 0 Foreign direct investment (net) 1 5 1 11 0 1 3 1 5 4 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 6 56 86 119 73 102 79 56 59 43 Memo: 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 47 Interest on long-term debt 1 0 9 3 2 7 5 4 4 0 Profit remittances on FDI 0 0 2 1 0 0 1 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 186 800 1,465 1,049 987 1,028 1,038 942 965 1,069 Exports of goods, serv. & inc. (XGS) .. 205 220 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 329 432 .. .. .. .. .. .. .. International reserves (RES) 1 62 123 236 182 149 140 136 122 127 Current account balance .. -43 -89 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 94.8 317.0 .. .. .. .. .. .. .. EDT / GNI (%) 12.9 24.3 47.7 88.9 89.4 89.3 87.6 91.1 85.2 99.7 TDS / XGS (%) .. 4.9 13.2 .. .. .. .. .. .. .. INT / XGS (%) .. 1.6 5.3 .. .. .. .. .. .. .. INT / GNI (%) 0.4 0.4 0.8 0.5 0.4 0.8 0.6 0.6 0.4 0.1 RES / EDT (%) 5.8 31.7 17.6 25.3 20.6 16.2 15.3 15.9 14.8 11.9 RES / MGS (months) .. 2.2 3.4 .. .. .. .. .. .. .. Short-term / EDT (%) 0.4 12.6 5.4 5.9 7.1 6.5 6.6 4.7 4.2 4.9 Concessional / EDT (%) 62.4 30.1 73.1 82.3 82.0 81.1 81.5 83.3 82.5 69.9 Multilateral / EDT (%) 0.9 27.4 65.2 69.2 68.5 67.7 66.9 68.0 67.0 54.9 125 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 24 147 624 850 802 841 826 796 757 980 Public and publicly guaranteed 24 147 624 850 802 841 826 796 757 980 Official 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 81 137 133 137 145 143 138 172 Private 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 34 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 29 265 422 403 413 403 391 372 399 DISBURSEMENTS 2 25 113 27 6 3 5 16 0 1 Public and publicly guaranteed 2 25 113 27 6 3 5 16 0 1 Official creditors 1 25 113 27 6 3 5 16 0 1 Multilateral 0 14 95 27 6 3 5 16 0 1 Concessional 0 14 94 27 5 3 5 16 0 1 Bilateral 1 11 18 0 0 0 0 0 0 0 Concessional 1 6 16 0 0 0 0 0 0 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 70 23 5 0 3 13 0 1 PRINCIPAL REPAYMENTS 2 1 8 2 4 12 7 7 9 0 Public and publicly guaranteed 2 1 8 2 4 12 7 7 9 0 Official creditors 1 0 7 2 4 12 7 7 9 0 Multilateral 0 0 3 2 4 12 6 7 7 0 Concessional 0 0 2 2 4 10 5 7 7 0 Bilateral 1 0 4 0 0 0 1 1 2 0 Concessional 0 0 1 0 0 0 1 0 2 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 1 1 4 4 6 6 0 NET FLOWS ON DEBT -1 24 105 25 2 -9 -2 9 -9 0 Public and publicly guaranteed -1 24 105 25 2 -9 -2 9 -9 0 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 70 21 3 -3 -1 7 -6 1 126 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 1 0 9 3 2 7 5 4 4 0 Public and publicly guaranteed 1 0 9 3 2 7 5 4 4 0 Official creditors 0 0 8 3 2 7 5 4 4 0 Multilateral 0 0 5 3 2 6 4 3 3 0 Concessional 0 0 3 3 2 5 3 3 3 0 Bilateral 0 0 3 0 0 0 1 1 1 0 Concessional 0 0 2 0 0 0 1 1 1 0 Private creditors 0 0 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 0 0 1 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 3 2 4 3 3 3 0 NET TRANSFERS ON DEBT -1 24 96 22 0 -16 -6 4 -12 0 Public and publicly guaranteed -1 24 96 22 0 -16 -6 4 -12 0 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 68 19 1 -7 -4 4 -8 1 DEBT SERVICE (LTDS) 3 1 17 5 7 19 12 12 13 0 Public and publicly guaranteed 3 1 17 5 7 19 12 12 13 0 Official creditors 1 0 15 5 7 19 11 12 13 0 Multilateral 0 0 8 5 7 19 10 10 10 0 Concessional 0 0 5 5 6 15 8 10 10 0 Bilateral 1 0 7 0 0 0 2 1 3 0 Concessional 1 0 3 0 0 0 2 1 3 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 4 3 8 7 9 9 0 UNDISBURSED DEBT 13 61 236 83 66 46 17 20 30 31 Official creditors 11 61 236 83 66 46 17 20 30 31 Private creditors 2 0 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.2 5.2 Deutsche mark 19.7 1.2 0.7 0.3 0.3 0.3 0.2 0.2 .. .. French franc 40.0 16.9 11.0 5.1 4.8 4.4 4.1 4.0 .. .. Japanese yen 0.0 0.0 0.7 0.6 0.6 0.6 0.7 0.7 0.6 0.5 Pound sterling 0.5 0.7 0.1 0.0 0.0 0.0 0.1 0.1 0.1 0.1 Swiss franc 0.0 7.5 2.6 2.4 2.4 2.5 2.3 2.2 2.1 2.1 U.S.dollars 1.8 35.8 43.6 57.5 58.7 59.6 60.2 61.2 61.9 51.1 Multiple currency 0.0 7.5 21.5 18.5 17.5 17.5 17.4 16.6 16.1 14.2 Special drawing rights 0.0 0.0 7.6 7.2 7.1 7.3 7.5 7.7 7.7 5.4 All other currencies 38.0 30.4 12.2 8.4 8.5 7.8 7.5 7.4 6.3 21.4 127 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 4 0 0 9 31 3 2 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 3 0 0 6 23 2 1 0 Official .. .. 3 0 0 6 23 2 1 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 0 0 3 7 1 0 0 Official .. .. 0 0 0 3 7 1 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 153 4 0 2 0 0 0 0 Memo: interest forgiven .. .. 4 3 0 2 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.0 0.6 1.0 1.0 0.0 0.0 0.0 0.8 0.8 0.0 Maturity (years) 35.8 12.5 37.6 49.8 0.0 0.0 0.0 39.8 39.5 0.0 Grace period (years) 7.9 4.3 10.2 9.3 0.0 0.0 0.0 10.3 10.0 0.0 Grant element (%) 62.8 39.0 77.0 80.2 0.0 0.0 0.0 80.6 80.3 0.0 Official creditors Interest (%) 1.0 0.6 1.0 1.0 0.0 0.0 0.0 0.8 0.8 0.0 Maturity (years) 47.5 12.5 37.6 49.8 0.0 0.0 0.0 39.8 39.5 0.0 Grace period (years) 9.9 4.3 10.2 9.3 0.0 0.0 0.0 10.3 10.0 0.0 Grant element (%) 79.6 39.0 77.0 80.2 0.0 0.0 0.0 80.6 80.3 0.0 Private creditors Interest (%) 4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 23.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 7 38 175 5 0 0 0 28 17 0 Official creditors 5 38 175 5 0 0 0 28 17 0 Private creditors 2 0 0 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 4 4 4 4 3 2 2 1 1 0 Principal 84 91 53 26 19 19 21 22 25 25 Interest 16 12 8 6 6 6 6 5 5 5 Official creditors Disbursements 4 4 4 4 3 2 2 1 1 0 Principal 80 87 53 26 19 19 21 22 25 25 Interest 16 12 8 6 6 6 6 5 5 5 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 69 75 40 13 5 5 5 4 4 4 Interest 12 8 4 2 2 2 2 2 2 1 Multilateral creditors Disbursements 4 4 4 4 3 2 2 1 1 0 Principal 12 12 13 13 14 15 16 17 20 21 Interest 4 4 4 4 4 4 4 4 4 3 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4 4 0 0 0 0 0 0 0 0 Interest 0 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 4 4 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 128 CHAD (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 35 284 524 994 1,023 1,091 1,141 1,115 1,104 1,281 Long-term debt (LDOD) 32 259 464 911 935 1,004 1,044 1,008 992 1,148 Public and publicly guaranteed 32 259 464 911 935 1,004 1,044 1,008 992 1,148 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 2 14 30 65 61 64 69 78 89 107 Short-term debt 0 11 30 18 26 23 28 29 23 25 of 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 1 Memo: 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 3 Memo: export credits 0 0 52 85 77 22 20 18 17 21 TOTAL DEBT FLOWS Disbursements 10 5 112 123 92 54 98 47 65 115 Long-term debt 6 5 104 99 80 43 86 33 48 98 IMF purchases 4 0 8 24 11 11 11 14 17 17 Principal repayments 3 5 7 16 24 23 21 16 17 19 Long-term debt 3 3 3 10 12 12 16 15 16 14 IMF repurchases 0 3 4 6 11 11 5 1 1 5 Net flows on debt 7 -8 107 109 77 27 78 29 46 96 of which short-term debt 0 -8 2 2 9 -5 2 -2 -2 1 Interest payments (INT) 0 1 5 14 12 12 11 10 6 10 Long-term debt 0 0 3 13 10 11 10 9 5 9 IMF charges 0 1 0 1 1 1 0 0 0 0 Short-term debt 0 0 2 0 1 1 1 1 1 0 Net transfers on debt 7 -9 102 95 65 15 67 19 40 86 Total debt service paid (TDS) 3 6 12 30 35 35 32 26 23 29 Long-term debt 3 3 6 23 22 22 27 24 21 24 IMF repurchases and charges 0 3 4 7 12 12 5 1 2 5 Short-term debt (interest only) 0 0 2 0 1 1 1 1 1 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 15 24 256 254 219 136 158 194 127 1,079 Net flow of long-term debt (ex. IMF) 3 3 100 89 68 31 70 18 33 83 Foreign direct investment (net) 1 0 9 41 44 21 27 115 0 901 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 11 22 147 124 107 83 61 61 94 95 Memo: 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 1,070 Interest on long-term debt 0 0 3 13 10 11 10 9 5 9 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 470 1,038 1,730 1,591 1,537 1,726 1,520 1,371 1,646 1,971 Exports of goods, serv. & inc. (XGS) .. 71 274 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 83 511 .. .. .. .. .. .. .. International reserves (RES) 2 12 132 169 139 123 98 114 125 223 Current account balance .. 12 -46 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 398.3 191.1 .. .. .. .. .. .. .. EDT / GNI (%) 7.5 27.4 30.3 62.5 66.5 63.2 75.0 81.3 67.1 65.0 TDS / XGS (%) .. 8.4 4.4 .. .. .. .. .. .. .. INT / XGS (%) .. 0.8 1.9 .. .. .. .. .. .. .. INT / GNI (%) 0.1 0.1 0.3 0.9 0.8 0.7 0.7 0.7 0.4 0.5 RES / EDT (%) 6.6 4.1 25.2 17.0 13.6 11.3 8.6 10.2 11.4 17.4 RES / MGS (months) .. 1.7 3.1 .. .. .. .. .. .. .. Short-term / EDT (%) 0.6 4.0 5.7 1.8 2.6 2.1 2.5 2.6 2.1 2.0 Concessional / EDT (%) 68.5 60.2 76.8 76.4 78.5 79.9 81.2 81.0 81.1 82.1 Multilateral / EDT (%) 4.4 26.2 63.4 73.4 73.1 74.5 75.8 75.3 76.2 77.9 129 CHAD (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 32 259 464 911 935 1,004 1,044 1,008 992 1,148 Public and publicly guaranteed 32 259 464 911 935 1,004 1,044 1,008 992 1,148 Official 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 88 Private 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 13 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 9 9 IDA 0 36 186 433 457 488 527 515 516 623 DISBURSEMENTS 6 5 104 99 80 43 86 33 48 98 Public and publicly guaranteed 6 5 104 99 80 43 86 33 48 98 Official creditors 3 5 104 99 80 43 86 33 48 98 Multilateral 0 5 72 99 74 43 83 33 48 98 Concessional 0 5 70 97 74 43 83 33 39 97 Bilateral 2 0 32 0 6 0 3 0 0 0 Concessional 2 0 25 0 6 0 3 0 0 0 Private creditors 3 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 3 0 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 9 0 IDA 0 0 48 68 49 18 53 18 26 72 PRINCIPAL REPAYMENTS 3 3 3 10 12 12 16 15 16 14 Public and publicly guaranteed 3 3 3 10 12 12 16 15 16 14 Official creditors 1 3 3 10 12 12 15 15 15 14 Multilateral 0 2 3 8 10 11 12 11 9 10 Concessional 0 2 2 7 6 6 10 9 8 9 Bilateral 1 1 0 2 3 1 3 4 6 4 Concessional 1 1 0 0 0 0 2 3 6 2 Private creditors 1 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 1 0 1 0 0 0 1 1 0 1 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 1 2 3 5 4 5 2 NET FLOWS ON DEBT 3 3 100 89 68 31 70 18 33 83 Public and publicly guaranteed 3 3 100 89 68 31 70 18 33 83 Official 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 -2 Private 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 -1 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 9 0 IDA 0 0 48 67 47 15 48 13 20 70 130 CHAD (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 0 3 13 10 11 10 9 5 9 Public and publicly guaranteed 0 0 3 13 10 11 10 9 5 9 Official creditors 0 0 3 13 10 11 10 9 5 9 Multilateral 0 0 2 9 7 8 7 6 5 8 Concessional 0 0 2 7 5 6 6 5 4 7 Bilateral 0 0 1 3 3 3 3 3 0 1 Concessional 0 0 1 0 0 0 0 0 0 1 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 1 0 IDA 0 0 1 3 3 3 3 3 4 3 NET TRANSFERS ON DEBT 3 2 97 77 58 20 60 9 27 74 Public and publicly guaranteed 3 2 97 77 58 20 60 9 27 74 Official 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 -3 Private 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 -1 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 9 0 IDA 0 0 46 64 43 11 45 10 16 67 DEBT SERVICE (LTDS) 3 3 6 23 22 22 27 24 21 24 Public and publicly guaranteed 3 3 6 23 22 22 27 24 21 24 Official creditors 2 3 6 22 22 22 25 23 21 23 Multilateral 0 2 5 17 16 19 19 17 14 18 Concessional 0 2 4 14 11 12 16 14 11 16 Bilateral 2 1 1 5 6 4 6 7 7 4 Concessional 2 1 1 0 0 0 2 4 7 3 Private creditors 1 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 1 0 1 0 0 0 2 1 1 1 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 1 0 IDA 0 0 2 4 5 7 8 8 9 5 UNDISBURSED DEBT 18 94 372 322 291 292 197 322 385 389 Official creditors 11 76 372 322 291 292 197 322 385 389 Private creditors 7 18 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.9 4.5 Deutsche mark 10.7 2.7 1.5 0.1 0.0 0.0 0.0 0.0 .. .. French franc 35.2 14.5 9.1 6.4 5.6 5.8 4.8 4.5 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 1.2 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 4.1 18.9 49.0 53.2 56.8 55.8 57.4 58.3 59.6 60.9 Multiple currency 3.7 9.6 25.7 25.5 23.3 23.6 22.5 21.9 21.5 20.6 Special drawing rights 0.0 0.0 0.0 0.2 0.2 0.2 0.2 0.2 0.1 0.1 All other currencies 45.0 54.1 14.6 14.6 14.1 14.6 15.2 15.1 13.9 13.9 131 CHAD (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 8 33 10 3 0 0 5 1 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 3 3 7 2 0 0 3 1 Official .. .. 2 3 7 2 0 0 3 1 Private .. .. 1 0 0 0 0 0 0 0 Interest rescheduled .. .. 1 1 1 1 0 0 2 0 Official .. .. 1 1 1 1 0 0 2 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 12 11 2 2 0 0 14 12 Memo: interest forgiven .. .. 0 1 1 1 0 0 7 4 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.7 0.0 1.7 0.9 0.7 0.4 1.0 0.7 2.2 0.8 Maturity (years) 8.3 0.0 30.3 37.4 47.3 39.8 40.4 40.5 32.9 38.5 Grace period (years) 1.0 0.0 9.2 9.7 10.4 7.3 9.7 10.1 9.0 9.7 Grant element (%) 14.3 0.0 66.4 76.3 83.2 80.8 77.7 80.7 64.2 78.3 Official creditors Interest (%) 3.7 0.0 1.7 0.9 0.7 0.4 1.0 0.7 2.2 0.8 Maturity (years) 10.1 0.0 30.3 37.4 47.3 39.8 40.4 40.5 32.9 38.5 Grace period (years) 1.8 0.0 9.2 9.7 10.4 7.3 9.7 10.1 9.0 9.7 Grant element (%) 25.5 0.0 66.4 76.3 83.2 80.8 77.7 80.7 64.2 78.3 Private creditors Interest (%) 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 7.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 11.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 10 0 85 45 75 32 67 178 138 79 Official creditors 2 0 85 45 75 32 67 178 138 79 Private creditors 8 0 0 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 94 74 61 49 38 27 19 12 8 3 Principal 32 30 33 36 39 38 39 44 45 47 Interest 14 14 14 13 13 12 12 11 11 10 Official creditors Disbursements 94 74 61 49 38 27 19 12 8 3 Principal 31 29 32 35 37 37 38 43 45 47 Interest 13 14 14 13 13 12 12 11 11 10 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 13 9 9 8 8 7 7 6 6 6 Interest 4 4 4 3 3 3 3 2 2 2 Multilateral creditors Disbursements 94 74 61 49 38 27 19 12 8 3 Principal 19 20 23 27 30 30 31 36 39 41 Interest 10 10 10 10 10 9 9 9 9 8 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 1 1 1 1 1 1 1 0 0 Interest 0 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 1 1 1 1 1 1 1 1 0 0 Interest 0 0 0 0 0 0 0 0 0 0 132 CHILE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2,977 12,081 19,226 23,049 22,809 30,175 34,269 37,048 38,398 41,945 Long-term debt (LDOD) 2,567 9,398 14,687 20,414 21,522 28,565 33,098 34,517 35,841 38,188 Public and publicly guaranteed 2,066 4,705 10,425 4,883 4,367 5,005 5,655 5,255 5,581 6,792 Private nonguaranteed 501 4,693 4,263 15,531 17,155 23,560 27,443 29,261 30,260 31,396 Use of IMF credit 1 123 1,156 0 0 0 0 0 0 0 Short-term debt 409 2,560 3,382 2,635 1,287 1,610 1,171 2,531 2,557 3,757 of 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 0 Memo: 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 0 Memo: 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 7,084 Long-term debt 655 3,551 2,253 6,644 6,217 6,784 5,879 4,979 6,024 7,084 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 254 1,513 980 4,677 2,857 2,345 3,351 3,941 4,684 6,011 Long-term debt 207 1,462 771 4,677 2,857 2,345 3,351 3,941 4,684 6,011 IMF repurchases 47 52 208 0 0 0 0 0 0 0 Net flows on debt 400 2,963 1,682 1,171 2,012 4,762 2,090 2,398 1,366 2,273 of which short-term debt 0 925 409 -796 -1,348 323 -439 1,360 26 1,200 Interest payments (INT) 104 1,193 1,792 1,291 1,134 1,418 1,578 2,236 1,964 1,718 Long-term debt 104 918 1,364 1,185 1,070 1,326 1,501 2,082 1,809 1,592 IMF charges 0 12 118 0 0 0 0 0 0 0 Short-term debt 0 262 310 105 64 92 76 154 154 126 Net transfers on debt 296 1,771 -110 -120 878 3,345 512 162 -598 555 Total debt service paid (TDS) 359 2,706 2,772 5,968 3,991 3,762 4,928 6,177 6,648 7,729 Long-term debt 311 2,380 2,135 5,863 3,927 3,671 4,852 6,023 6,494 7,603 IMF repurchases and charges 47 64 326 0 0 0 0 0 0 0 Short-term debt (interest only) 0 262 310 105 64 92 76 154 154 126 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 381 2,312 2,583 7,692 10,392 9,852 12,056 4,268 5,622 2,492 Net flow of long-term debt (ex. IMF) 448 2,090 1,481 1,967 3,360 4,439 2,529 1,038 1,340 1,073 Foreign direct investment (net) -79 213 661 4,979 5,275 4,806 8,989 3,639 4,477 1,713 Portfolio equity flows 0 0 367 700 1,720 580 524 -427 -217 -317 Grants (excluding technical coop.) 12 9 73 47 36 26 15 18 23 23 Memo: 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 -1,256 Interest on long-term debt 104 918 1,364 1,185 1,070 1,326 1,501 2,082 1,809 1,592 Profit remittances on FDI 0 86 387 1,892 2,185 1,401 1,467 2,462 2,256 2,156 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 8,513 26,544 28,564 65,901 72,548 71,124 71,254 73,171 64,123 61,569 Exports of goods, serv. & inc. (XGS) .. 6,276 10,705 21,221 22,936 21,649 22,171 24,872 23,839 23,599 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 8,360 11,387 24,811 27,116 26,030 22,714 26,197 25,460 24,578 International reserves (RES) 392 4,128 6,784 15,659 18,112 16,221 14,971 15,055 14,399 15,344 Current account balance .. -1,971 -485 -3,083 -3,660 -3,918 99 -766 -1,192 -553 4. DEBT INDICATORS EDT / XGS (%) .. 192.5 179.6 108.6 99.4 139.4 154.6 149.0 161.1 177.7 EDT / GNI (%) 35.0 45.5 67.3 35.0 31.4 42.4 48.1 50.6 59.9 68.1 TDS / XGS (%) .. 43.1 25.9 28.1 17.4 17.4 22.2 24.8 27.9 32.8 INT / XGS (%) .. 19.0 16.7 6.1 4.9 6.5 7.1 9.0 8.2 7.3 INT / GNI (%) 1.2 4.5 6.3 2.0 1.6 2.0 2.2 3.1 3.1 2.8 RES / EDT (%) 13.2 34.2 35.3 67.9 79.4 53.8 43.7 40.6 37.5 36.6 RES / MGS (months) .. 5.9 7.1 7.6 8.0 7.5 7.9 6.9 6.8 7.5 Short-term / EDT (%) 13.7 21.2 17.6 11.4 5.6 5.3 3.4 6.8 6.7 9.0 Concessional / EDT (%) 22.8 5.6 1.9 1.4 1.5 1.3 1.2 1.0 0.9 0.7 Multilateral / EDT (%) 5.9 2.9 21.5 9.1 7.0 5.1 4.4 3.8 3.4 2.6 133 CHILE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 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 38,188 Public and publicly guaranteed 2,066 4,705 10,425 4,883 4,367 5,005 5,655 5,255 5,581 6,792 Official 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 658 628 334 307 331 383 377 348 318 300 Private 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 27 Private 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 24,222 Memo: 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 7,084 Public and publicly guaranteed 407 857 708 975 685 1,029 1,092 382 1,295 2,396 Official 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 1 Private 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 25 Private 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 4,688 Memo: 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 6,011 Public and publicly guaranteed 166 891 500 2,960 995 441 469 760 931 1,270 Official 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 29 Private 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 1 Private 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 4,647 Memo: 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 1,073 Public and publicly guaranteed 242 -34 208 -1,986 -309 588 623 -378 365 1,126 Official 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 -29 Private 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 24 Private 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 41 Memo: IBRD 18 5 132 -188 -25 -35 -67 -67 -80 -172 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1 134 CHILE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 104 918 1,364 1,185 1,070 1,326 1,501 2,082 1,809 1,592 Public and publicly guaranteed 78 483 1,112 535 292 254 311 377 299 213 Official 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 6 Private 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 0 Private 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 1,011 826 Memo: 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 -519 Public and publicly guaranteed 163 -517 -904 -2,521 -601 335 312 -755 66 913 Official 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 -35 Private 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 24 Private 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 -785 Memo: 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 7,603 Public and publicly guaranteed 244 1,374 1,612 3,495 1,286 694 780 1,137 1,230 1,483 Official 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 36 Private 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 1 Private 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 5,473 Memo: 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 1,441 Official creditors 180 186 1,364 861 568 214 481 298 639 699 Private creditors 288 246 186 91 266 297 140 190 140 743 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.5 6.0 Deutsche mark 5.6 5.9 4.7 3.6 2.0 1.9 1.3 1.2 .. .. French franc 2.1 6.3 1.1 0.8 0.8 0.5 0.4 0.3 .. .. Japanese yen 0.0 1.8 8.2 8.6 7.2 6.9 6.5 5.5 3.9 2.8 Pound sterling 7.4 1.0 3.4 0.5 0.4 0.3 0.3 0.2 0.2 0.1 Swiss franc 0.9 0.4 0.6 0.3 0.2 0.2 0.1 0.1 0.0 0.0 U.S.dollars 75.1 74.6 40.2 45.8 54.9 79.4 83.2 85.5 89.1 89.0 Multiple currency 6.7 7.0 39.4 39.8 34.2 10.6 8.1 7.0 5.3 2.0 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 2.2 3.2 2.4 0.7 0.3 0.2 0.2 0.1 0.0 0.0 135 CHILE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 21.7 Official 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 26.6 Private 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 21.2 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 561 427 235 120 52 20 14 8 2 1 Principal 6,972 5,196 5,357 5,670 3,589 2,100 2,288 1,343 1,044 4,855 Interest 1,543 1,420 1,200 1,026 832 622 513 436 385 786 Official creditors Disbursements 189 185 145 81 52 20 14 8 2 1 Principal 344 197 172 142 141 137 120 138 127 81 Interest 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 27 Private creditors Disbursements 371 241 91 39 0 0 0 0 0 0 Principal 6,627 5,000 5,185 5,528 3,448 1,964 2,168 1,205 917 4,775 Interest 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 1,046 883 716 515 441 398 351 757 136 CHINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 55,301 128,817 146,697 144,007 152,085 145,706 170,059 168,255 Long-term debt (LDOD) .. .. 45,515 103,410 115,233 126,667 136,905 132,626 128,449 120,370 Public and publicly guaranteed .. .. 45,515 102,260 112,821 99,424 99,217 94,837 91,705 88,531 Private nonguaranteed .. .. 0 1,150 2,412 27,243 37,688 37,789 36,744 31,839 Use of IMF credit 0 0 469 0 0 0 0 0 0 0 Short-term debt .. .. 9,317 25,407 31,464 17,340 15,180 13,080 41,610 47,885 of 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 0 Memo: 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 0 Memo: 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 19,058 Long-term debt .. .. 9,665 21,114 23,976 11,148 20,384 16,754 14,781 19,058 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments .. .. 3,809 10,260 11,526 11,209 19,835 19,925 16,643 24,714 Long-term debt .. .. 3,319 10,260 11,526 11,209 19,835 19,925 16,643 24,714 IMF repurchases 0 0 490 0 0 0 0 0 0 0 Net flows on debt .. .. 8,267 13,936 18,506 -14,185 -1,611 -5,271 -33 619 of which short-term debt .. .. 2,410 3,082 6,057 -14,124 -2,160 -2,100 1,828 6,275 Interest payments (INT) .. .. 3,248 5,496 6,918 7,226 7,028 7,167 7,655 5,902 Long-term debt .. .. 2,534 4,685 5,553 5,575 5,887 5,999 6,160 4,226 IMF charges 0 0 65 0 0 0 0 0 0 0 Short-term debt .. .. 649 811 1,365 1,651 1,140 1,168 1,495 1,677 Net transfers on debt .. .. 5,018 8,440 11,588 -21,411 -8,638 -12,438 -7,688 -5,283 Total debt service paid (TDS) .. .. 7,057 15,756 18,445 18,435 26,862 27,092 24,297 30,616 Long-term debt .. .. 5,853 14,944 17,080 16,784 25,722 25,924 22,802 28,939 IMF repurchases and charges 0 0 555 0 0 0 0 0 0 0 Short-term debt (interest only) .. .. 649 811 1,365 1,651 1,140 1,168 1,495 1,677 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 10,082 53,194 62,609 44,795 40,289 42,445 43,480 46,213 Net flow of long-term debt (ex. IMF) .. .. 6,346 10,854 12,449 -61 549 -3,171 -1,861 -5,656 Foreign direct investment (net) .. .. 3,487 40,180 44,237 43,751 38,753 38,399 44,241 49,308 Portfolio equity flows .. .. 0 1,915 5,657 765 612 6,912 849 2,249 Grants (excluding technical coop.) .. .. 249 245 266 340 375 305 251 311 Memo: 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 24,164 Interest on long-term debt .. .. 2,534 4,685 5,553 5,575 5,887 5,999 6,160 4,226 Profit remittances on FDI .. .. 46 11,679 13,311 16,039 16,039 20,198 21,489 17,823 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 355,609 804,053 887,240 929,657 976,886 1,066,076 1,156,541 1,251,107 Exports of goods, serv. & inc. (XGS) .. .. 60,515 180,668 217,372 213,255 229,678 292,668 309,709 375,419 Worker remit. & comp. of employees .. .. 124 1,672 4,589 344 530 758 1,209 2,353 Imports of goods & services (MGS) .. .. 48,668 173,882 181,130 185,815 213,123 277,904 299,888 351,302 International reserves (RES) .. .. 34,476 111,729 146,448 152,843 161,414 171,763 220,057 297,739 Current account balance .. .. 11,997 7,243 36,963 31,472 21,115 20,518 17,401 35,422 4. DEBT INDICATORS EDT / XGS (%) .. .. 91.4 71.3 67.5 67.5 66.2 49.8 54.9 44.8 EDT / GNI (%) .. .. 15.6 16.0 16.5 15.5 15.6 13.7 14.7 13.4 TDS / XGS (%) .. .. 11.7 8.7 8.5 8.6 11.7 9.3 7.8 8.2 INT / XGS (%) .. .. 5.4 3.0 3.2 3.4 3.1 2.4 2.5 1.6 INT / GNI (%) .. .. 0.9 0.7 0.8 0.8 0.7 0.7 0.7 0.5 RES / EDT (%) .. .. 62.3 86.7 99.8 106.1 106.1 117.9 129.4 177.0 RES / MGS (months) .. .. 8.5 7.7 9.7 9.9 9.1 7.4 8.8 10.2 Short-term / EDT (%) .. .. 16.8 19.7 21.4 12.0 10.0 9.0 24.5 28.5 Concessional / EDT (%) .. .. 17.6 14.5 12.3 20.6 21.6 20.7 17.3 17.8 Multilateral / EDT (%) .. .. 11.1 13.7 12.9 15.5 15.7 17.7 15.8 16.2 137 CHINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 45,515 103,410 115,233 126,667 136,905 132,626 128,449 120,370 Public and publicly guaranteed .. .. 45,515 102,260 112,821 99,424 99,217 94,837 91,705 88,531 Official 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 20,465 Private 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 21,161 Private 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 31,531 Memo: 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 19,058 Public and publicly guaranteed .. .. 9,665 20,985 22,458 10,679 12,719 9,672 8,611 4,671 Official 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 1,779 463 Private 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 1,187 Private 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 14,387 Memo: 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 24,714 Public and publicly guaranteed .. .. 3,319 10,260 11,320 8,182 11,105 10,798 8,579 9,939 Official 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 1,104 Private 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 3,559 Private 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 14,551 Memo: 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 -5,656 Public and publicly guaranteed .. .. 6,346 10,725 11,138 2,497 1,614 -1,126 33 -5,268 Official 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 -641 Private 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 -2,372 Private 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 -164 Memo: IBRD 0 0 376 943 1,211 1,078 788 950 663 -577 IDA 0 0 507 791 687 554 407 314 224 95 138 CHINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 2,534 4,685 5,553 5,575 5,887 5,999 6,160 4,226 Public and publicly guaranteed .. .. 2,534 4,631 5,498 4,612 3,692 4,075 4,244 3,071 Official 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 .. .. 193 293 342 964 777 633 544 417 Private 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 1,000 945 777 775 Private 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 1,083 Memo: 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 -9,881 Public and publicly guaranteed .. .. 3,813 6,094 5,640 -2,115 -2,078 -5,201 -4,211 -8,338 Official 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 -1,058 Private 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 -3,148 Private 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 -1,247 Memo: 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 28,939 Public and publicly guaranteed .. .. 5,853 14,891 16,817 12,794 14,797 14,873 12,822 13,009 Official 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 1,520 Private 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 4,335 Private 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 15,634 Memo: 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 10,872 Official creditors .. .. 5,280 12,141 11,512 21,758 20,607 14,163 10,775 9,072 Private creditors .. .. 4,019 5,765 5,371 509 488 399 0 1,800 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.7 5.6 Deutsche mark .. .. 3.1 1.4 1.2 2.3 2.2 2.3 .. .. French franc .. .. 0.4 0.3 0.2 2.9 2.0 1.9 .. .. Japanese yen .. .. 30.4 15.9 11.8 14.8 17.8 16.9 14.5 15.4 Pound sterling .. .. 0.7 0.2 0.2 0.1 0.1 0.1 0.1 0.1 Swiss franc .. .. 0.2 0.0 0.0 0.1 0.1 0.1 0.1 0.1 U.S.dollars .. .. 29.1 65.0 74.6 72.4 67.5 71.5 74.1 72.5 Multiple currency .. .. 31.2 15.6 10.8 6.2 9.2 6.4 6.0 5.8 Special drawing rights .. .. 0.3 0.1 0.1 0.3 0.3 0.1 0.0 0.0 All other currencies .. .. 4.7 1.5 1.1 0.9 0.9 0.8 0.4 0.4 139 CHINA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 23.1 Official 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 38.1 Private 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 13.9 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 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 1 Principal 19,387 17,419 16,934 17,111 12,619 5,801 4,639 4,520 5,540 3,252 Interest 4,897 4,264 3,612 2,919 2,207 1,639 1,394 1,174 967 822 Official creditors Disbursements 2,638 2,080 1,508 1,134 768 504 302 99 38 1 Principal 4,002 4,082 3,946 4,068 3,953 3,499 3,462 3,345 3,187 3,108 Interest 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 957 961 946 937 899 839 773 704 633 560 Private creditors Disbursements 1,800 0 0 0 0 0 0 0 0 0 Principal 15,385 13,337 12,988 13,042 8,666 2,302 1,177 1,175 2,352 144 Interest 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 9 140 COLOMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2,236 6,941 17,222 28,900 31,941 33,083 34,424 33,934 36,699 33,853 Long-term debt (LDOD) 1,580 4,604 15,784 23,016 26,182 26,851 30,459 31,062 32,961 30,052 Public and publicly guaranteed 1,297 4,089 14,671 14,854 15,436 16,749 20,220 20,803 21,777 21,177 Private nonguaranteed 283 515 1,113 8,162 10,746 10,101 10,239 10,259 11,184 8,876 Use of IMF credit 55 0 0 0 0 0 0 0 0 0 Short-term debt 602 2,337 1,438 5,884 5,759 6,232 3,965 2,871 3,738 3,800 of 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 0 Memo: 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 9 Memo: 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 3,436 Long-term debt 332 1,074 1,994 7,422 6,243 2,937 7,463 3,804 6,016 3,436 IMF purchases 29 0 0 0 0 0 0 0 0 0 Principal repayments 225 263 2,189 3,365 2,501 2,590 3,934 2,902 3,622 4,740 Long-term debt 153 263 2,189 3,365 2,501 2,590 3,934 2,902 3,622 4,740 IMF repurchases 73 0 0 0 0 0 0 0 0 0 Net flows on debt 136 1,136 -399 4,397 3,618 820 1,262 -192 3,261 -1,241 of which short-term debt 0 325 -204 341 -125 473 -2,267 -1,094 867 62 Interest payments (INT) 62 688 1,701 2,036 2,011 1,949 2,672 2,204 2,690 2,181 Long-term debt 62 310 1,558 1,722 1,662 1,601 2,387 2,032 2,528 2,019 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 378 143 314 349 348 285 172 162 162 Net transfers on debt 74 447 -2,100 2,361 1,607 -1,129 -1,410 -2,396 572 -3,422 Total debt service paid (TDS) 287 951 3,889 5,401 4,511 4,539 6,606 5,106 6,311 6,921 Long-term debt 215 573 3,746 5,087 4,162 4,191 6,321 4,934 6,150 6,759 IMF repurchases and charges 73 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 378 143 314 349 348 285 172 162 162 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 245 976 340 7,541 9,671 3,286 5,114 3,298 4,950 830 Net flow of long-term debt (ex. IMF) 179 811 -195 4,057 3,742 346 3,529 903 2,394 -1,303 Foreign direct investment (net) 43 157 500 3,112 5,562 2,829 1,508 2,299 2,509 2,023 Portfolio equity flows 0 0 0 292 278 47 -27 17 -42 17 Grants (excluding technical coop.) 23 8 35 81 89 64 104 79 89 94 Memo: 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 -2,176 Interest on long-term debt 62 310 1,558 1,722 1,662 1,601 2,387 2,032 2,528 2,019 Profit remittances on FDI 94 110 964 643 570 -29 -288 655 886 988 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 6,995 33,185 38,193 95,093 104,346 96,721 84,767 81,463 79,126 78,108 Exports of goods, serv. & inc. (XGS) 1,025 5,928 9,514 14,619 15,898 15,172 16,198 18,285 17,788 17,217 Worker remit. & comp. of employees 26 106 495 753 774 806 1,312 1,603 1,957 2,372 Imports of goods & services (MGS) 1,348 6,231 9,510 19,221 21,604 19,992 15,684 17,751 19,370 18,911 International reserves (RES) 207 6,474 4,869 9,938 9,907 8,754 8,103 9,006 10,244 10,844 Current account balance -293 -206 542 -4,642 -5,751 -4,858 671 626 -1,251 -1,639 4. DEBT INDICATORS EDT / XGS (%) 218.2 117.1 181.0 197.7 200.9 218.0 212.5 185.6 206.3 196.6 EDT / GNI (%) 32.0 20.9 45.1 30.4 30.6 34.2 40.6 41.7 46.4 43.3 TDS / XGS (%) 28.0 16.0 40.9 36.9 28.4 29.9 40.8 27.9 35.5 40.2 INT / XGS (%) 6.0 11.6 17.9 13.9 12.6 12.8 16.5 12.1 15.1 12.7 INT / GNI (%) 0.9 2.1 4.5 2.1 1.9 2.0 3.2 2.7 3.4 2.8 RES / EDT (%) 9.3 93.3 28.3 34.4 31.0 26.5 23.5 26.5 27.9 32.0 RES / MGS (months) 1.8 12.5 6.1 6.2 5.5 5.3 6.2 6.1 6.3 6.9 Short-term / EDT (%) 26.9 33.7 8.4 20.4 18.0 18.8 11.5 8.5 10.2 11.2 Concessional / EDT (%) 28.1 14.2 5.7 3.3 2.8 2.7 2.8 2.8 2.4 2.7 Multilateral / EDT (%) 19.9 19.5 35.4 16.5 12.8 14.0 18.5 18.5 19.8 21.6 141 COLOMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 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 30,052 Public and publicly guaranteed 1,297 4,089 14,671 14,854 15,436 16,749 20,220 20,803 21,777 21,177 Official 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 604 899 769 790 745 755 850 860 798 845 Private 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 1,648 847 721 585 834 632 689 519 Private 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 8,218 Memo: 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 3,436 Public and publicly guaranteed 332 1,019 1,847 3,461 2,980 2,937 6,519 2,940 5,255 2,142 Official 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 45 Private 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 9 Private 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 1,294 Memo: 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 4,740 Public and publicly guaranteed 94 250 1,875 2,018 1,833 1,934 3,114 2,069 2,721 3,446 Official 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 43 Private 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 59 284 265 200 181 629 204 187 186 Private 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 1,294 Memo: 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 -1,303 Public and publicly guaranteed 238 769 -28 1,443 1,147 1,003 3,405 870 2,534 -1,304 Official 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 2 Private 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 -177 Private 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 0 Memo: IBRD 41 152 -221 -198 -248 -48 218 25 136 249 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1 142 COLOMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 62 310 1,558 1,722 1,662 1,601 2,387 2,032 2,528 2,019 Public and publicly guaranteed 47 279 1,240 843 885 977 1,656 1,414 1,690 1,524 Official 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 24 Private 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 42 Private 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 31 318 801 695 542 649 534 759 420 Memo: 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 -3,322 Public and publicly guaranteed 192 490 -1,268 601 262 25 1,749 -544 844 -2,827 Official 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 -22 Private 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 -218 Private 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 -420 Memo: 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 6,759 Public and publicly guaranteed 141 529 3,115 2,860 2,718 2,911 4,770 3,484 4,411 4,969 Official 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 67 Private 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 80 409 343 266 236 798 263 249 227 Private 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 1,714 Memo: 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 1,624 Official creditors 424 1,781 3,468 2,193 2,014 2,111 2,452 2,280 2,108 1,612 Private creditors 153 673 567 197 57 3 13 643 45 12 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 9.8 10.9 Deutsche mark 1.3 3.8 6.0 5.7 4.2 3.6 2.4 1.8 .. .. French franc 0.4 1.9 0.3 0.3 0.2 0.2 0.1 0.1 .. .. Japanese yen 0.0 0.1 4.9 5.9 4.9 4.8 4.7 3.6 3.9 3.7 Pound sterling 0.2 0.4 0.3 0.1 0.1 1.1 0.9 0.8 0.7 0.8 Swiss franc 0.3 0.0 0.3 0.1 0.1 0.1 0.0 0.0 0.0 0.0 U.S.dollars 66.1 60.4 44.0 59.7 75.0 75.3 80.6 80.3 78.5 77.8 Multiple currency 29.8 31.3 41.2 27.2 14.9 13.1 10.1 8.5 7.1 6.7 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 1.9 2.1 3.0 1.0 0.7 1.9 1.3 4.9 0.0 0.0 143 COLOMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 2 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 4.1 Official 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 31.6 Private 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 -2.9 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 533 387 287 179 97 61 39 24 12 4 Principal 5,876 3,724 2,922 2,785 2,675 3,048 2,015 1,344 2,109 609 Interest 1,890 1,655 1,506 1,341 1,169 896 746 630 467 357 Official creditors Disbursements 521 387 287 179 97 61 39 24 12 4 Principal 1,319 990 878 817 837 796 670 654 658 467 Interest 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 91 Private creditors Disbursements 12 1 0 0 0 0 0 0 0 0 Principal 4,558 2,734 2,044 1,968 1,838 2,253 1,345 690 1,451 142 Interest 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 1,022 891 662 552 469 340 257 144 COMOROS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1.2 44.0 187.1 217.7 219.4 227.1 228.3 231.7 242.8 270.1 Long-term debt (LDOD) 1.2 43.0 174.7 205.0 202.7 211.6 206.2 201.9 217.7 239.9 Public and publicly guaranteed 1.2 43.0 174.7 205.0 202.7 211.6 206.2 201.9 217.7 239.9 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 3.2 2.8 2.7 2.2 1.5 0.8 0.6 Short-term debt 0.0 1.0 12.4 9.5 13.9 12.9 19.9 28.4 24.2 29.7 of which interest arrears on LDOD 0.0 0.0 12.2 9.5 8.9 11.8 12.9 19.4 21.2 23.7 Official creditors 0.0 0.0 12.2 9.5 8.9 11.8 12.9 19.4 21.2 23.7 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD 0.0 0.0 25.5 33.0 36.7 40.6 44.4 61.0 64.2 67.6 Official creditors 0.0 0.0 25.5 33.0 36.7 40.6 44.4 61.0 64.2 67.6 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits 0.0 0.0 2.0 3.3 3.3 2.8 2.4 2.3 2.1 2.5 TOTAL DEBT FLOWS Disbursements 0.0 13.0 5.4 9.6 5.8 4.2 0.7 3.1 11.6 12.2 Long-term debt 0.0 13.0 5.4 9.6 5.8 4.2 0.7 3.1 11.6 12.2 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.0 0.0 0.2 0.8 1.5 1.6 2.2 1.4 1.5 3.9 Long-term debt 0.0 0.0 0.2 0.8 1.2 1.4 1.8 0.8 1.0 3.6 IMF repurchases 0.0 0.0 0.0 0.0 0.2 0.2 0.4 0.6 0.6 0.4 Net flows on debt 0.0 13.0 2.2 6.9 9.3 -1.4 4.4 3.7 4.1 11.3 of which short-term debt 0.0 0.0 -3.0 -2.0 5.0 -3.9 5.9 2.0 -6.0 3.0 Interest payments (INT) 0.0 0.4 0.8 0.6 0.8 0.4 0.9 1.3 0.8 0.9 Long-term debt 0.0 0.3 0.7 0.6 0.5 0.4 0.7 0.8 0.6 0.8 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 0.1 0.2 0.1 0.3 0.1 0.2 0.5 0.2 0.1 Net transfers on debt -0.1 12.6 1.3 6.2 8.5 -1.8 3.5 2.4 3.2 10.4 Total debt service paid (TDS) 0.1 0.4 1.1 1.4 2.3 2.0 3.1 2.7 2.3 4.8 Long-term debt 0.1 0.3 0.9 1.4 1.8 1.7 2.5 1.6 1.6 4.4 IMF repurchases and charges 0.0 0.0 0.0 0.0 0.3 0.3 0.4 0.6 0.6 0.4 Short-term debt (interest only) 0.0 0.1 0.2 0.1 0.3 0.1 0.2 0.5 0.2 0.1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 3.0 30.8 33.3 24.9 16.9 30.2 14.5 13.9 21.7 23.1 Net 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 8.6 Foreign direct investment (net) 0.0 0.0 0.4 0.5 0.0 3.2 0.3 0.9 0.0 1.5 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 3.1 17.8 27.7 15.5 12.3 24.2 15.3 10.7 11.0 13.0 Memo: 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 22.1 Interest on long-term debt 0.0 0.3 0.7 0.6 0.5 0.4 0.7 0.8 0.6 0.8 Profit remittances on FDI 0.0 0.0 0.6 0.4 0.4 0.3 0.3 0.2 0.4 0.2 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 24.7 124.1 261.8 230.9 212.3 215.2 223.1 204.7 222.9 255.4 Exports 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 12.2 Imports 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 79.9 Current account balance .. -8.9 -10.5 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 280.5 389.1 .. .. .. .. .. .. .. EDT / GNI (%) 4.7 35.4 71.5 94.3 103.4 105.5 102.3 113.2 108.9 105.8 TDS / 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 0.4 RES / EDT (%) .. 14.5 16.0 23.4 18.6 17.2 16.3 18.6 25.7 29.6 RES / 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 11.0 Concessional / EDT (%) 100.0 96.8 86.0 90.1 88.6 89.3 86.3 83.4 86.5 85.6 Multilateral / EDT (%) 0.0 48.2 60.9 73.8 72.6 74.2 72.2 69.4 68.9 70.0 145 COMOROS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1.2 43.0 174.7 205.0 202.7 211.6 206.2 201.9 217.7 239.9 Public and publicly guaranteed 1.2 43.0 174.7 205.0 202.7 211.6 206.2 201.9 217.7 239.9 Official creditors 1.2 42.6 174.7 205.0 202.7 211.6 206.2 201.9 217.7 239.9 Multilateral 0.0 21.2 113.9 160.7 159.3 168.6 164.9 160.8 167.2 189.0 Concessional 0.0 21.2 100.2 151.7 151.0 159.7 155.7 152.3 159.4 180.4 Bilateral 1.2 21.4 60.8 44.4 43.5 43.0 41.4 41.1 50.5 50.9 Concessional 1.2 21.4 60.8 44.4 43.5 43.0 41.4 41.1 50.5 50.9 Private 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 0.0 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 4.2 37.5 68.2 69.6 74.8 72.7 70.8 79.0 96.1 DISBURSEMENTS 0.0 13.0 5.4 9.6 5.8 4.2 0.7 3.1 11.6 12.2 Public and publicly guaranteed 0.0 13.0 5.4 9.6 5.8 4.2 0.7 3.1 11.6 12.2 Official creditors 0.0 12.6 5.4 9.6 5.8 4.2 0.7 3.1 11.6 12.2 Multilateral 0.0 6.1 1.3 9.6 5.8 4.2 0.7 3.1 11.6 12.2 Concessional 0.0 6.1 1.3 9.6 5.8 4.2 0.7 3.1 11.6 12.2 Bilateral 0.0 6.5 4.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Concessional 0.0 6.5 4.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private 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 0.0 Private 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 0.0 Memo: 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 0.7 6.4 5.2 3.1 0.0 2.1 11.6 12.2 PRINCIPAL REPAYMENTS 0.0 0.0 0.2 0.8 1.2 1.4 1.8 0.8 1.0 3.6 Public and publicly guaranteed 0.0 0.0 0.2 0.8 1.2 1.4 1.8 0.8 1.0 3.6 Official creditors 0.0 0.0 0.2 0.8 1.2 1.4 1.8 0.8 1.0 3.6 Multilateral 0.0 0.0 0.2 0.8 1.0 0.5 0.8 0.8 1.0 2.9 Concessional 0.0 0.0 0.2 0.8 1.0 0.5 0.8 0.8 1.0 2.9 Bilateral 0.0 0.0 0.0 0.0 0.2 0.9 1.0 0.0 0.0 0.7 Concessional 0.0 0.0 0.0 0.0 0.2 0.9 1.0 0.0 0.0 0.7 Private creditors 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 0.1 0.4 0.4 0.2 0.6 0.8 0.8 1.1 NET FLOWS ON DEBT 0.0 13.0 5.2 8.9 4.6 2.8 -1.1 2.3 10.6 8.6 Public and publicly guaranteed 0.0 13.0 5.2 8.9 4.6 2.8 -1.1 2.3 10.6 8.6 Official 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 -0.7 Private 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 0.0 Private 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 0.0 Memo: 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 11.1 146 COMOROS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.0 0.3 0.7 0.6 0.5 0.4 0.7 0.8 0.6 0.8 Public and publicly guaranteed 0.0 0.3 0.7 0.6 0.5 0.4 0.7 0.8 0.6 0.8 Official creditors 0.0 0.3 0.7 0.6 0.5 0.4 0.7 0.8 0.6 0.8 Multilateral 0.0 0.0 0.4 0.6 0.5 0.3 0.7 0.8 0.6 0.7 Concessional 0.0 0.0 0.4 0.6 0.5 0.3 0.7 0.8 0.6 0.7 Bilateral 0.0 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Concessional 0.0 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Private creditors 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 0.3 0.5 0.5 0.3 0.6 0.8 0.6 0.6 NET TRANSFERS ON DEBT -0.1 12.7 4.5 8.3 4.0 2.5 -1.7 1.5 10.0 7.8 Public and publicly guaranteed -0.1 12.7 4.5 8.3 4.0 2.5 -1.7 1.5 10.0 7.8 Official 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 -0.8 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.1 0.3 0.9 1.4 1.8 1.7 2.5 1.6 1.6 4.4 Public and publicly guaranteed 0.1 0.3 0.9 1.4 1.8 1.7 2.5 1.6 1.6 4.4 Official creditors 0.1 0.3 0.9 1.4 1.8 1.7 2.5 1.6 1.6 4.4 Multilateral 0.0 0.0 0.6 1.4 1.5 0.8 1.5 1.6 1.6 3.6 Concessional 0.0 0.0 0.6 1.4 1.5 0.8 1.5 1.6 1.6 3.6 Bilateral 0.1 0.3 0.3 0.0 0.2 0.9 1.0 0.0 0.0 0.8 Concessional 0.1 0.3 0.3 0.0 0.2 0.9 1.0 0.0 0.0 0.8 Private creditors 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 0.3 0.8 0.9 0.5 1.1 1.5 1.4 1.7 UNDISBURSED DEBT 0.0 49.8 56.8 17.4 30.6 33.9 30.6 27.0 31.1 20.8 Official creditors 0.0 48.8 56.8 17.4 30.6 33.9 30.6 27.0 31.1 20.8 Private creditors 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD 1.2 42.6 161.0 196.1 194.5 202.7 197.1 193.4 209.9 231.2 Variable rate LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD 1.2 43.0 174.7 205.0 202.7 211.6 206.2 201.9 217.7 239.9 Private sector LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 14.5 13.8 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 100.0 2.9 23.5 16.5 15.7 15.4 15.3 14.7 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 0.0 38.4 17.1 29.7 31.6 32.3 32.6 33.2 35.0 38.4 Multiple currency 0.0 10.2 8.0 4.4 4.1 4.5 4.9 4.9 5.6 5.4 Special drawing rights 0.0 0.0 0.0 2.5 2.7 2.7 2.7 3.0 2.7 2.6 All other currencies 0.0 48.5 51.4 46.9 46.0 45.1 44.6 44.3 42.2 39.8 147 COMOROS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0.0 2.1 3.5 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 2.0 0.5 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 2.0 0.5 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 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 0.1 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 Debt forgiven .. .. 0.1 0.2 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 1.3 2.0 2.5 0.6 0.8 0.0 1.0 0.8 0.0 Maturity (years) 0.0 43.1 29.8 25.1 39.8 39.9 0.0 10.7 39.6 0.0 Grace period (years) 0.0 9.0 10.3 7.6 10.3 10.4 0.0 1.2 10.1 0.0 Grant element (%) 0.0 74.5 65.9 56.7 81.5 80.8 0.0 36.7 80.4 0.0 Official creditors Interest (%) 0.0 0.8 2.0 2.5 0.6 0.8 0.0 1.0 0.8 0.0 Maturity (years) 0.0 45.6 29.8 25.1 39.8 39.9 0.0 10.7 39.6 0.0 Grace period (years) 0.0 9.5 10.3 7.6 10.3 10.4 0.0 1.2 10.1 0.0 Grant element (%) 0.0 79.1 65.9 56.7 81.5 80.8 0.0 36.7 80.4 0.0 Private creditors Interest (%) 0.0 7.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 5.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 0.0 5.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 0 23 1 1 20 8 0 1 17 0 Official creditors 0 22 1 1 20 8 0 1 17 0 Private creditors 0 1 0 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 12.2 5.1 3.0 2.9 2.6 2.1 1.6 1.2 1.0 0.4 Principal 3.6 7.3 6.1 6.4 6.5 5.0 5.5 5.6 5.4 5.7 Interest 0.8 1.4 1.4 1.4 1.3 1.3 1.3 1.2 1.2 1.2 Official creditors Disbursements 12.2 5.1 3.0 2.9 2.6 2.1 1.6 1.2 1.0 0.4 Principal 3.6 7.3 6.1 6.4 6.5 5.0 5.5 5.6 5.4 5.7 Interest 0.8 1.4 1.4 1.4 1.3 1.3 1.3 1.2 1.2 1.2 Bilateral creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.7 1.8 1.5 1.7 1.7 1.5 1.5 1.5 1.3 1.3 Interest 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 Multilateral creditors Disbursements 12.2 5.1 3.0 2.9 2.6 2.1 1.6 1.2 1.0 0.4 Principal 2.9 5.5 4.6 4.7 4.8 3.6 4.0 4.1 4.1 4.4 Interest 0.7 1.2 1.2 1.1 1.1 1.1 1.1 1.1 1.1 1.0 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 148 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 342 4,773 10,259 12,830 12,337 13,203 12,048 11,692 11,519 8,726 Long-term debt (LDOD) 308 4,071 8,994 9,275 8,628 9,214 8,262 7,880 7,587 7,391 Public and publicly guaranteed 308 4,071 8,994 9,275 8,628 9,214 8,262 7,880 7,587 7,391 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 373 521 433 406 423 412 391 377 571 Short-term debt 34 329 744 3,121 3,302 3,565 3,374 3,421 3,555 764 of 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 53 Memo: 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 23 674 821 811 866 492 488 482 143 Memo: 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 0 959 Long-term debt 32 463 315 3 0 0 8 0 0 415 IMF purchases 0 140 0 0 0 0 0 0 0 544 Principal repayments 25 277 201 36 0 1 1 0 0 637 Long-term debt 25 192 49 0 0 0 0 0 0 248 IMF repurchases 0 85 152 36 0 1 1 0 0 388 Net flows on debt 6 278 88 -91 242 -13 13 20 2 244 of which short-term debt 0 -48 -27 -58 242 -13 7 20 2 -78 Interest payments (INT) 9 265 147 12 13 19 20 25 18 290 Long-term debt 9 205 88 0 0 0 0 0 0 164 IMF charges 0 15 38 5 0 0 2 0 0 113 Short-term debt 0 45 21 7 12 18 18 25 17 14 Net transfers on debt -3 13 -60 -103 229 -32 -6 -4 -16 -46 Total debt service paid (TDS) 34 542 348 48 13 19 21 25 18 927 Long-term debt 34 397 137 0 0 0 0 0 0 412 IMF repurchases and charges 0 101 190 42 0 1 3 0 0 501 Short-term debt (interest only) 0 45 21 7 12 18 18 25 17 14 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 51 477 626 152 68 158 113 160 198 646 Net flow of long-term debt (ex. IMF) 6 271 266 3 0 0 8 0 0 167 Foreign direct investment (net) 6 110 -15 25 -44 61 11 23 1 32 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 38 96 374 124 113 97 94 137 197 447 Memo: 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 93 147 188 477 Interest on long-term debt 9 205 88 0 0 0 0 0 0 164 Profit remittances on FDI 0 74 37 30 24 19 19 13 10 5 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 4,721 13,895 8,579 5,398 2,879 5,759 4,056 4,466 4,774 5,501 Exports of goods, serv. & inc. (XGS) .. .. .. .. .. .. .. .. .. .. Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. .. .. .. .. .. .. .. .. .. International reserves (RES) 189 380 261 83 .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. .. .. .. .. .. .. EDT / GNI (%) 7.2 34.3 119.6 237.7 428.5 229.2 297.0 261.8 241.3 158.6 TDS / XGS (%) .. .. .. .. .. .. .. .. .. .. INT / XGS (%) .. .. .. .. .. .. .. .. .. .. INT / GNI (%) 0.2 1.9 1.7 0.2 0.4 0.3 0.5 0.6 0.4 5.3 RES / 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 8.8 Concessional / EDT (%) 63.2 18.1 31.0 26.6 25.7 26.3 27.5 26.8 26.2 43.6 Multilateral / EDT (%) 1.7 6.7 18.6 18.1 17.7 17.3 18.9 18.5 17.9 27.7 149 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 308 4,071 8,994 9,275 8,628 9,214 8,262 7,880 7,587 7,391 Public and publicly guaranteed 308 4,071 8,994 9,275 8,628 9,214 8,262 7,880 7,587 7,391 Official 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 1,937 Private 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 37 Private 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 0 Memo: 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 DISBURSEMENTS 32 463 315 3 0 0 8 0 0 415 Public and publicly guaranteed 32 463 315 3 0 0 8 0 0 415 Official creditors 13 201 312 3 0 0 8 0 0 415 Multilateral 1 69 222 0 0 0 0 0 0 410 Concessional 1 27 125 0 0 0 0 0 0 410 Bilateral 12 132 90 3 0 0 8 0 0 5 Concessional 12 105 88 3 0 0 8 0 0 5 Private creditors 19 263 3 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 92 0 0 0 0 0 0 0 0 Other private 19 171 3 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 23 21 0 0 0 0 0 0 0 IDA 1 20 89 0 0 0 0 0 0 410 PRINCIPAL REPAYMENTS 25 192 49 0 0 0 0 0 0 248 Public and publicly guaranteed 25 192 49 0 0 0 0 0 0 248 Official creditors 6 102 34 0 0 0 0 0 0 248 Multilateral 1 12 28 0 0 0 0 0 0 248 Concessional 0 0 4 0 0 0 0 0 0 167 Bilateral 5 90 6 0 0 0 0 0 0 0 Concessional 4 2 4 0 0 0 0 0 0 0 Private creditors 19 90 15 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 36 5 0 0 0 0 0 0 0 Other private 19 53 10 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 1 6 5 0 0 0 0 0 0 82 IDA 0 0 2 0 0 0 0 0 0 135 NET FLOWS ON DEBT 6 271 266 3 0 0 8 0 0 167 Public and publicly guaranteed 6 271 266 3 0 0 8 0 0 167 Official 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 5 Private 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 0 Private 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 0 Memo: IBRD -1 17 15 0 0 0 0 0 0 -82 IDA 1 20 87 0 0 0 0 0 0 275 150 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 9 205 88 0 0 0 0 0 0 164 Public and publicly guaranteed 9 205 88 0 0 0 0 0 0 164 Official creditors 5 105 76 0 0 0 0 0 0 164 Multilateral 0 11 40 0 0 0 0 0 0 164 Concessional 0 2 9 0 0 0 0 0 0 102 Bilateral 5 94 36 0 0 0 0 0 0 0 Concessional 5 45 8 0 0 0 0 0 0 0 Private creditors 4 99 12 0 0 0 0 0 0 0 Bonds 0 1 0 0 0 0 0 0 0 0 Commercial banks 0 69 6 0 0 0 0 0 0 0 Other private 3 29 6 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 8 1 0 0 0 0 0 0 51 IDA 0 1 7 0 0 0 0 0 0 86 NET TRANSFERS ON DEBT -3 67 178 3 0 0 8 0 0 3 Public and publicly guaranteed -3 67 178 3 0 0 8 0 0 3 Official 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 5 Private 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 0 Private 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 0 Memo: IBRD -2 9 14 0 0 0 0 0 0 -132 IDA 1 19 80 0 0 0 0 0 0 189 DEBT SERVICE (LTDS) 34 397 137 0 0 0 0 0 0 412 Public and publicly guaranteed 34 397 137 0 0 0 0 0 0 412 Official creditors 11 208 110 0 0 0 0 0 0 412 Multilateral 2 24 68 0 0 0 0 0 0 412 Concessional 0 2 13 0 0 0 0 0 0 269 Bilateral 9 184 42 0 0 0 0 0 0 0 Concessional 9 48 13 0 0 0 0 0 0 0 Private creditors 23 189 27 0 0 0 0 0 0 0 Bonds 0 1 1 0 0 0 0 0 0 0 Commercial banks 0 105 11 0 0 0 0 0 0 0 Other private 23 83 16 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 2 14 6 0 0 0 0 0 0 132 IDA 0 1 9 0 0 0 0 0 0 221 UNDISBURSED DEBT 288 818 1,654 452 410 495 235 178 53 535 Official creditors 52 743 1,589 399 364 446 202 151 53 535 Private creditors 236 75 65 53 46 49 33 27 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 33.1 22.7 Deutsche mark 2.2 5.9 6.9 6.5 6.0 6.3 6.2 6.0 .. .. French franc 3.8 13.6 16.4 15.9 14.9 14.9 12.6 12.1 .. .. Japanese yen 0.0 1.5 3.0 3.4 3.2 4.0 5.1 4.8 4.3 4.6 Pound sterling 1.8 4.1 1.2 1.0 1.0 1.0 1.1 1.1 1.1 0.3 Swiss franc 0.0 0.4 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 U.S.dollars 41.5 42.2 41.5 42.0 44.4 42.9 43.1 44.6 45.8 57.4 Multiple currency 1.6 2.1 3.2 4.1 4.0 4.0 4.5 4.4 4.3 2.8 Special drawing rights 0.0 0.0 0.2 0.4 0.4 0.4 0.4 0.4 0.3 0.3 All other currencies 49.1 30.3 27.4 26.7 25.7 26.3 26.9 26.4 10.9 11.8 151 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 51 Debt forgiven .. .. 9 0 0 0 1 0 0 2,086 Memo: interest forgiven .. .. 15 0 0 0 0 0 0 1,467 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.5 5.1 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.8 Maturity (years) 12.5 22.7 23.8 0.0 0.0 0.0 0.0 0.0 0.0 39.8 Grace period (years) 3.6 6.3 6.4 0.0 0.0 0.0 0.0 0.0 0.0 10.3 Grant element (%) 18.3 39.4 30.6 0.0 0.0 0.0 0.0 0.0 0.0 80.7 Official creditors Interest (%) 2.6 2.8 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.8 Maturity (years) 32.6 28.9 23.8 0.0 0.0 0.0 0.0 0.0 0.0 39.8 Grace period (years) 8.6 8.5 6.4 0.0 0.0 0.0 0.0 0.0 0.0 10.3 Grant element (%) 59.8 57.2 30.6 0.0 0.0 0.0 0.0 0.0 0.0 80.7 Private creditors Interest (%) 6.9 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 10.1 9.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.0 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 13.3 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 258 438 109 0 0 0 0 0 0 860 Official creditors 27 298 109 0 0 0 0 0 0 860 Private creditors 231 140 0 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 125 78 101 78 60 43 30 17 0 0 Principal 186 173 172 168 161 226 291 284 282 291 Interest 235 233 231 227 223 218 208 195 183 171 Official creditors Disbursements 125 78 101 78 60 43 30 17 0 0 Principal 185 172 172 168 161 226 291 284 282 291 Interest 235 233 231 227 223 218 208 195 183 171 Bilateral creditors Disbursements 9 6 4 2 1 0 0 0 0 0 Principal 146 133 133 128 117 178 242 234 232 231 Interest 213 210 208 204 199 195 184 172 160 148 Multilateral creditors Disbursements 116 72 97 76 59 42 30 17 0 0 Principal 39 39 39 40 44 48 49 50 50 59 Interest 23 23 23 23 24 24 23 23 23 22 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 1 1 0 0 0 0 0 0 0 Interest 0 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 1 1 1 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 152 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 119 1,526 4,947 5,241 5,071 5,119 5,033 4,887 4,491 5,152 Long-term debt (LDOD) 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974 Public and publicly guaranteed 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 22 11 38 34 34 29 41 39 33 Short-term debt 0 247 736 537 753 834 1,070 1,088 821 1,145 of 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 2 104 128 144 167 169 171 171 181 Memo: 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 5 443 491 558 642 681 714 753 789 Memo: 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 2 Long-term debt 18 522 312 4 24 0 0 0 38 2 IMF purchases 0 4 5 20 0 10 0 14 0 0 Principal repayments 6 41 362 140 55 18 4 5 55 17 Long-term debt 6 34 355 140 53 7 0 5 54 9 IMF repurchases 0 7 7 0 2 11 4 0 1 8 Net flows on debt 13 541 93 -451 96 -66 154 -52 -341 159 of which short-term debt 0 56 138 -335 127 -58 158 -61 -324 174 Interest payments (INT) 3 68 169 199 57 23 21 37 36 7 Long-term debt 3 37 120 180 40 6 0 7 26 3 IMF charges 0 1 1 1 1 1 1 1 1 1 Short-term debt 0 31 48 18 16 16 20 30 9 3 Net transfers on debt 10 473 -75 -649 39 -90 133 -90 -378 152 Total debt service paid (TDS) 9 109 531 339 112 41 25 43 92 24 Long-term debt 9 71 475 320 93 13 0 12 80 12 IMF repurchases and charges 0 8 8 1 3 11 5 1 2 9 Short-term debt (interest only) 0 31 48 18 16 16 20 30 9 3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 23 548 7 236 285 80 668 193 96 378 Net flow of long-term debt (ex. IMF) 13 488 -43 -136 -30 -7 0 -5 -16 -7 Foreign direct investment (net) 5 40 0 73 79 33 538 166 77 331 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 5 20 50 299 235 54 130 32 35 54 Memo: 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 -197 Interest on long-term debt 3 37 120 180 40 6 0 7 26 3 Profit remittances on FDI 0 6 0 458 99 -77 181 466 369 572 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 267 1,544 2,324 1,629 1,560 1,191 1,645 2,275 1,954 2,195 Exports of goods, serv. & inc. (XGS) .. 1,030 1,503 1,757 1,768 1,490 1,737 2,644 2,217 2,461 Worker remit. & comp. of employees 0 3 0 8 5 2 12 10 12 12 Imports of goods & services (MGS) .. 1,195 1,757 2,438 1,925 1,727 1,961 2,013 2,228 2,484 International reserves (RES) 9 93 10 95 63 4 43 225 72 35 Current account balance .. -167 -251 -651 -156 -241 -231 648 -28 -34 4. DEBT INDICATORS EDT / XGS (%) .. 148.2 329.2 298.3 286.7 343.5 289.8 184.9 202.6 209.4 EDT / GNI (%) 44.5 98.8 212.9 321.8 325.0 429.9 305.9 214.8 229.9 234.7 TDS / XGS (%) .. 10.6 35.3 19.3 6.4 2.8 1.4 1.6 4.1 1.0 INT / XGS (%) .. 6.6 11.2 11.3 3.2 1.6 1.2 1.4 1.6 0.3 INT / GNI (%) 1.1 4.4 7.3 12.2 3.6 1.9 1.3 1.6 1.9 0.3 RES / EDT (%) 7.5 6.1 0.2 1.8 1.2 0.1 0.8 4.6 1.6 0.7 RES / MGS (months) .. 0.9 0.1 0.5 0.4 0.0 0.3 1.3 0.4 0.2 Short-term / EDT (%) 0.3 16.2 14.9 10.2 14.9 16.3 21.3 22.3 18.3 22.2 Concessional / EDT (%) 62.8 26.5 35.1 38.2 36.6 36.8 34.4 33.7 36.2 34.9 Multilateral / EDT (%) 24.7 7.7 11.5 12.9 12.2 12.2 11.9 11.7 11.9 11.1 153 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974 Public and publicly guaranteed 118 1,257 4,200 4,666 4,284 4,251 3,934 3,758 3,631 3,974 Official 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 1,533 Private 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 81 Private 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 0 Memo: IBRD 29 39 164 82 73 71 68 65 16 10 IDA 0 22 75 171 165 168 166 159 187 198 DISBURSEMENTS 18 522 312 4 24 0 0 0 38 2 Public and publicly guaranteed 18 522 312 4 24 0 0 0 38 2 Official creditors 16 109 127 4 24 0 0 0 38 2 Multilateral 0 23 11 4 22 0 0 0 38 2 Concessional 0 10 1 2 1 0 0 0 38 2 Bilateral 16 87 116 0 2 0 0 0 0 0 Concessional 16 39 113 0 2 0 0 0 0 0 Private creditors 2 412 185 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 277 174 0 0 0 0 0 0 0 Other private 2 135 11 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 2 2 2 0 0 0 0 0 0 IDA 0 1 0 2 1 0 0 0 38 2 PRINCIPAL REPAYMENTS 6 34 355 140 53 7 0 5 54 9 Public and publicly guaranteed 6 34 355 140 53 7 0 5 54 9 Official creditors 2 21 70 126 53 7 0 5 54 9 Multilateral 1 5 30 32 38 7 0 5 54 9 Concessional 0 0 2 5 0 0 0 1 5 2 Bilateral 1 16 40 94 15 0 0 0 0 0 Concessional 1 11 1 17 0 0 0 0 0 0 Private creditors 4 12 285 14 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 257 0 0 0 0 0 0 0 Other private 4 12 28 14 0 0 0 0 0 0 Private 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 0 Memo: IBRD 1 4 6 16 3 3 0 2 48 6 IDA 0 0 0 1 0 0 0 1 5 2 NET FLOWS ON DEBT 13 488 -43 -136 -30 -7 0 -5 -16 -7 Public and publicly guaranteed 13 488 -43 -136 -30 -7 0 -5 -16 -7 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD -1 -2 -4 -14 -3 -3 0 -2 -48 -6 IDA 0 1 0 1 1 0 0 -1 32 0 154 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 3 37 120 180 40 6 0 7 26 3 Public and publicly guaranteed 3 37 120 180 40 6 0 7 26 3 Official creditors 3 25 68 177 40 6 0 7 26 3 Multilateral 2 6 30 20 37 6 0 7 26 3 Concessional 0 1 1 2 1 1 0 1 4 2 Bilateral 1 19 38 156 3 0 0 0 0 0 Concessional 1 11 28 33 0 0 0 0 0 0 Private creditors 1 12 52 3 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 44 0 0 0 0 0 0 0 Other private 1 11 8 3 0 0 0 0 0 0 Private 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 0 Memo: IBRD 2 4 12 7 1 1 0 1 22 1 IDA 0 0 1 1 0 1 0 1 4 2 NET TRANSFERS ON DEBT 10 451 -163 -316 -70 -13 0 -12 -42 -10 Public and publicly guaranteed 10 451 -163 -316 -70 -13 0 -12 -42 -10 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD -3 -6 -16 -22 -4 -4 0 -4 -70 -8 IDA 0 1 -1 0 0 -1 0 -1 28 -2 DEBT SERVICE (LTDS) 9 71 475 320 93 13 0 12 80 12 Public and publicly guaranteed 9 71 475 320 93 13 0 12 80 12 Official creditors 5 46 138 302 93 13 0 12 80 12 Multilateral 3 11 60 52 75 13 0 12 80 12 Concessional 0 1 3 7 1 1 0 2 10 4 Bilateral 2 35 78 250 19 0 0 0 0 0 Concessional 2 22 29 50 0 0 0 0 0 0 Private creditors 4 25 337 18 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 301 0 0 0 0 0 0 0 Other private 4 23 36 18 0 0 0 0 0 0 Private 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 0 Memo: IBRD 3 8 18 24 4 4 0 4 70 8 IDA 0 0 1 3 1 1 0 1 10 4 UNDISBURSED DEBT 42 735 400 281 226 6 5 5 5 47 Official creditors 35 221 338 128 93 6 5 5 5 47 Private creditors 7 514 62 153 134 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 44.6 48.2 Deutsche mark 5.2 1.1 2.4 2.8 2.7 2.9 2.7 2.6 .. .. French franc 14.1 31.0 51.2 44.6 41.4 41.7 38.8 37.6 .. .. Japanese yen 0.0 0.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 Pound sterling 0.6 0.0 5.7 5.7 6.3 6.3 6.8 6.5 6.6 6.7 Swiss franc 0.0 2.1 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 U.S.dollars 2.3 25.1 16.6 24.2 26.0 25.9 27.9 29.0 30.2 27.7 Multiple currency 24.7 3.1 3.9 1.8 1.7 0.6 0.6 0.6 0.0 0.0 Special drawing rights 0.0 0.0 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 All other currencies 53.1 37.5 19.1 20.0 21.0 21.6 22.3 22.6 17.7 16.4 155 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 780 269 91 69 36 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 386 193 70 53 25 0 0 0 Official .. .. 101 182 70 53 25 0 0 0 Private .. .. 285 11 0 0 0 0 0 0 Interest rescheduled .. .. 370 69 19 16 7 0 0 0 Official .. .. 248 65 19 16 7 0 0 0 Private .. .. 121 5 0 0 0 0 0 0 Debt forgiven .. .. 0 77 37 35 17 0 0 0 Memo: interest forgiven .. .. 0 24 4 4 2 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 80.1 Official 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 80.1 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 6 8 10 8 6 4 3 2 0 0 Principal 208 189 189 183 119 112 113 46 45 48 Interest 65 56 48 39 32 25 19 15 13 12 Official creditors Disbursements 6 8 10 8 6 4 3 2 0 0 Principal 208 189 189 183 119 112 113 46 45 48 Interest 65 56 48 39 32 25 19 15 13 12 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 159 159 161 157 95 95 97 30 28 31 Interest 57 50 43 36 29 23 17 12 11 10 Multilateral creditors Disbursements 6 8 10 8 6 4 3 2 0 0 Principal 50 30 28 26 25 17 16 16 17 17 Interest 8 6 5 4 3 2 2 2 2 2 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 156 COSTA RICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 287 2,744 3,756 3,491 3,478 3,960 4,216 4,456 4,650 4,834 Long-term debt (LDOD) 246 2,112 3,367 3,116 2,940 3,270 3,439 3,500 3,489 3,335 Public and publicly guaranteed 134 1,700 3,063 2,923 2,769 3,032 3,195 3,264 3,273 3,139 Private nonguaranteed 112 412 304 193 172 237 244 236 216 196 Use of IMF credit 0 57 11 1 0 0 0 0 0 0 Short-term debt 41 575 377 374 538 690 777 956 1,161 1,499 of 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 0 Memo: 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 2 Memo: export credits 0 0 297 204 146 56 80 55 90 167 TOTAL DEBT FLOWS Disbursements 62 556 206 389 278 600 513 508 444 171 Long-term debt 60 536 206 389 278 600 513 508 444 171 IMF purchases 2 20 0 0 0 0 0 0 0 0 Principal repayments 45 176 295 372 358 331 356 387 416 390 Long-term debt 41 164 269 349 358 331 356 387 416 390 IMF repurchases 4 12 26 23 1 0 0 0 0 0 Net flows on debt 17 602 -108 -36 84 423 251 300 234 122 of which short-term debt 0 222 -20 -53 164 154 94 179 206 341 Interest payments (INT) 14 179 206 216 208 215 194 261 282 280 Long-term debt 14 171 171 195 183 181 154 205 239 239 IMF charges 0 4 3 0 0 0 0 0 0 0 Short-term debt 0 4 32 20 26 34 40 56 43 41 Net transfers on debt 2 424 -315 -252 -125 208 57 38 -48 -158 Total debt service paid (TDS) 59 354 501 588 567 546 550 648 697 670 Long-term debt 55 335 440 544 540 512 510 592 654 629 IMF repurchases and charges 4 16 29 23 1 0 0 0 0 0 Short-term debt (interest only) 0 4 32 20 26 34 40 56 43 41 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 48 425 210 501 358 909 800 555 502 464 Net flow of long-term debt (ex. IMF) 19 373 -63 40 -80 269 157 121 28 -220 Foreign direct investment (net) 26 53 163 427 408 613 620 409 454 662 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 0 110 34 30 26 24 25 21 21 Memo: 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 -116 Interest on long-term debt 14 171 171 195 183 181 154 205 239 239 Profit remittances on FDI 0 20 60 89 179 383 1,724 1,141 596 341 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 969 4,615 5,460 11,660 12,580 13,627 13,968 14,701 15,587 16,303 Exports of goods, serv. & inc. (XGS) .. 1,219 2,094 5,092 5,650 7,177 8,537 8,115 7,185 7,497 Worker remit. & comp. of employees 0 4 12 131 130 128 116 125 181 228 Imports of goods & services (MGS) .. 1,897 2,709 5,383 6,141 7,698 9,218 8,805 7,902 8,400 International reserves (RES) 16 197 525 1,001 1,262 1,064 1,461 1,318 1,330 1,497 Current account balance .. -664 -424 -264 -481 -521 -680 -707 -736 -946 4. DEBT INDICATORS EDT / XGS (%) .. 225.2 179.4 68.6 61.6 55.2 49.4 54.9 64.7 64.5 EDT / GNI (%) 29.6 59.5 68.8 29.9 27.6 29.1 30.2 30.3 29.8 29.6 TDS / XGS (%) .. 29.1 23.9 11.5 10.0 7.6 6.4 8.0 9.7 8.9 INT / XGS (%) .. 14.7 9.9 4.2 3.7 3.0 2.3 3.2 3.9 3.7 INT / GNI (%) 1.5 3.9 3.8 1.8 1.7 1.6 1.4 1.8 1.8 1.7 RES / EDT (%) 5.7 7.2 14.0 28.7 36.3 26.9 34.7 29.6 28.6 31.0 RES / MGS (months) .. 1.2 2.3 2.2 2.5 1.7 1.9 1.8 2.0 2.1 Short-term / EDT (%) 14.3 21.0 10.0 10.7 15.5 17.4 18.4 21.4 25.0 31.0 Concessional / EDT (%) 16.2 9.1 23.6 23.6 21.0 17.4 15.7 13.1 11.4 10.3 Multilateral / EDT (%) 19.9 16.4 30.4 37.7 36.8 34.8 32.1 29.1 27.8 26.0 157 COSTA RICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 246 2,112 3,367 3,116 2,940 3,270 3,439 3,500 3,489 3,335 Public and publicly guaranteed 134 1,700 3,063 2,923 2,769 3,032 3,195 3,264 3,273 3,139 Official 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 36 128 642 637 537 504 471 399 344 301 Private 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 25 Private 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 112 412 304 193 172 237 244 236 216 196 Memo: IBRD 36 178 409 245 191 172 149 121 102 91 IDA 5 5 3 2 2 2 2 2 2 1 DISBURSEMENTS 60 536 206 389 278 600 513 508 444 171 Public and publicly guaranteed 30 435 201 389 278 513 485 499 444 171 Official creditors 19 200 170 375 191 311 183 249 194 155 Multilateral 12 97 89 313 183 219 169 130 181 145 Concessional 4 42 13 44 19 9 16 10 18 23 Bilateral 7 103 81 62 8 92 14 118 13 10 Concessional 7 20 76 18 6 9 13 10 13 10 Private creditors 10 235 31 15 87 202 301 250 250 15 Bonds 0 97 0 0 50 200 300 250 250 0 Commercial banks 6 120 30 13 36 0 0 0 0 15 Other private 4 17 1 2 1 2 1 0 0 0 Private nonguaranteed 30 102 5 0 0 87 28 9 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 30 102 5 0 0 87 28 9 0 0 Memo: IBRD 5 29 5 10 20 20 12 6 8 12 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 41 164 269 349 358 331 356 387 416 390 Public and publicly guaranteed 21 76 263 328 336 309 334 370 396 370 Official creditors 7 22 92 311 309 283 305 328 342 315 Multilateral 3 15 79 121 159 161 192 149 151 234 Concessional 0 2 10 13 13 15 15 15 14 12 Bilateral 4 7 14 190 150 122 114 179 191 81 Concessional 3 3 3 71 79 63 62 61 57 68 Private creditors 14 53 171 17 27 27 29 42 54 55 Bonds 1 0 42 7 10 16 17 30 42 44 Commercial banks 12 41 124 6 14 7 10 9 9 10 Other private 1 12 5 3 3 4 3 3 2 2 Private nonguaranteed 20 88 6 21 21 21 21 17 20 20 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 20 88 6 21 21 21 21 17 20 20 Memo: IBRD 2 7 45 41 54 40 34 33 27 23 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 19 373 -63 40 -80 269 157 121 28 -220 Public and publicly guaranteed 9 359 -62 61 -58 204 150 129 48 -200 Official 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 -57 Private 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 -2 Private 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 -20 Memo: IBRD 3 23 -40 -32 -34 -21 -23 -27 -19 -11 IDA 0 0 0 0 0 0 0 0 0 0 158 COSTA RICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 14 171 171 195 183 181 154 205 239 239 Public and publicly guaranteed 7 130 169 177 167 162 141 189 224 226 Official creditors 4 42 104 133 122 114 98 102 100 95 Multilateral 3 27 77 87 86 85 83 82 83 83 Concessional 0 3 5 4 3 4 3 3 3 5 Bilateral 1 15 27 46 36 29 15 20 17 12 Concessional 1 3 9 23 20 17 6 14 12 11 Private creditors 3 88 65 44 44 48 43 87 124 131 Bonds 0 6 24 36 37 39 37 80 116 123 Commercial banks 2 78 36 4 4 6 3 4 4 5 Other private 1 4 5 4 4 4 3 3 4 4 Private nonguaranteed 7 41 2 18 16 19 13 16 14 12 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 7 41 2 18 16 19 13 16 14 12 Memo: IBRD 2 15 33 20 16 12 13 12 10 8 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 5 202 -234 -155 -262 88 3 -84 -211 -458 Public and publicly guaranteed 2 229 -231 -115 -225 42 9 -61 -176 -426 Official 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 -68 Private 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 -6 Private 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 -32 Memo: IBRD 1 8 -73 -52 -50 -33 -35 -39 -29 -19 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 55 335 440 544 540 512 510 592 654 629 Public and publicly guaranteed 28 206 432 505 503 471 476 559 620 596 Official creditors 11 65 196 444 431 396 403 430 442 410 Multilateral 6 43 156 209 246 245 274 231 234 317 Concessional 0 5 15 17 17 19 19 18 17 17 Bilateral 5 22 40 236 186 151 129 199 208 93 Concessional 4 6 12 94 99 80 68 75 69 79 Private creditors 16 141 236 61 72 75 73 129 178 186 Bonds 1 6 66 43 46 55 54 110 159 166 Commercial banks 14 119 160 10 18 12 13 13 13 14 Other private 2 16 10 7 7 8 5 6 6 6 Private nonguaranteed 28 129 8 40 38 41 34 33 34 32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 28 129 8 40 38 41 34 33 34 32 Memo: IBRD 4 21 78 62 70 52 47 45 37 31 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 95 797 1,053 1,116 1,028 762 564 655 730 648 Official creditors 93 623 1,038 1,109 1,023 761 564 655 592 499 Private creditors 2 174 15 7 4 2 0 0 137 149 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.5 1.7 Deutsche mark 2.0 3.1 2.6 1.9 1.3 1.0 0.6 0.4 .. .. French franc 0.0 0.2 1.0 0.3 0.2 0.2 0.1 0.1 .. .. Japanese yen 0.0 0.5 3.0 7.1 6.0 5.7 5.6 4.5 3.7 3.8 Pound sterling 2.8 0.5 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 67.1 69.2 58.2 54.6 58.7 67.9 72.3 77.4 81.0 81.3 Multiple currency 28.2 18.2 31.4 34.1 32.1 23.2 19.5 16.1 13.6 12.8 Special drawing rights 0.0 0.0 0.2 0.1 0.1 0.1 0.0 0.0 0.0 0.0 All other currencies 0.0 7.6 3.4 1.8 1.5 1.8 1.7 1.4 0.2 0.2 159 COSTA RICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 641 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 469 0 0 0 0 0 0 0 Principal rescheduled .. .. 20 0 0 0 0 0 0 0 Official .. .. 19 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 151 0 0 0 0 0 0 0 Official .. .. 10 0 0 0 0 0 0 0 Private .. .. 141 0 0 0 0 0 0 0 Debt forgiven .. .. 0 2 2 0 0 0 0 0 Memo: interest forgiven .. .. 187 0 0 0 0 0 0 0 Debt stock reduction .. .. 668 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 26.8 Official 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 30.2 Private 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 19.1 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 249 179 108 58 24 15 9 3 1 1 Principal 587 307 298 272 268 247 554 206 418 129 Interest 212 192 181 168 154 141 114 88 67 48 Official creditors Disbursements 174 130 91 50 24 15 9 3 1 1 Principal 310 218 209 180 179 158 165 129 103 97 Interest 87 75 68 59 51 42 35 28 22 17 Bilateral creditors Disbursements 23 6 4 3 3 2 1 1 0 0 Principal 80 48 36 27 25 24 23 22 16 12 Interest 10 8 7 6 5 4 3 2 2 1 Multilateral creditors Disbursements 150 124 87 47 21 13 8 2 1 1 Principal 230 170 173 153 154 134 142 107 87 85 Interest 77 67 61 54 46 38 31 25 20 16 Private creditors Disbursements 75 49 17 8 0 0 0 0 0 0 Principal 277 89 89 92 89 89 389 77 315 32 Interest 125 117 113 109 103 98 79 60 45 31 Commercial banks Disbursements 75 49 17 8 0 0 0 0 0 0 Principal 7 20 23 22 19 19 19 19 19 6 Interest 2 6 6 5 5 4 3 2 2 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 270 69 67 70 70 70 370 58 296 26 Interest 123 111 107 103 99 95 76 58 43 30 160 COTE D'IVOIRE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 374 7,462 17,251 19,524 15,609 14,852 13,170 12,138 11,618 11,816 Long-term debt (LDOD) 267 6,339 13,223 13,216 12,498 12,632 11,295 10,546 9,975 10,369 Public and publicly guaranteed 256 4,327 10,665 11,367 10,427 10,800 9,699 9,063 8,603 9,110 Private nonguaranteed 11 2,012 2,558 1,849 2,071 1,833 1,596 1,482 1,372 1,259 Use of IMF credit 0 65 431 503 450 644 620 549 464 491 Short-term debt 107 1,059 3,597 5,805 2,661 1,576 1,256 1,043 1,179 956 of 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 8 160 207 Memo: 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 91 105 Memo: 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 12 299 Long-term debt 82 1,739 1,019 876 236 445 247 148 12 223 IMF purchases 0 38 153 138 0 168 0 0 0 76 Principal repayments 30 722 621 860 838 670 832 481 369 522 Long-term debt 30 722 498 812 816 670 823 442 302 436 IMF repurchases 0 0 123 48 22 0 8 39 67 86 Net flows on debt 51 1,257 1,189 2,117 412 -1,064 -904 -617 -518 -362 of which short-term debt 0 202 639 1,962 1,015 -1,007 -319 -283 -161 -139 Interest payments (INT) 12 685 641 515 521 713 618 539 252 309 Long-term debt 12 590 443 473 413 615 544 462 215 280 IMF charges 0 0 31 5 3 3 3 3 3 3 Short-term debt 0 95 167 37 105 96 70 74 34 26 Net transfers on debt 39 572 548 1,602 -109 -1,778 -1,521 -1,156 -770 -671 Total debt service paid (TDS) 43 1,407 1,262 1,375 1,360 1,383 1,449 1,020 621 831 Long-term debt 43 1,312 941 1,285 1,229 1,285 1,367 904 518 716 IMF repurchases and charges 0 0 155 53 25 3 11 42 69 89 Short-term debt (interest only) 0 95 167 37 105 96 70 74 34 26 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 94 1,139 855 840 148 677 120 180 200 685 Net flow of long-term debt (ex. IMF) 51 1,017 521 64 -580 -225 -577 -294 -291 -213 Foreign direct investment (net) 31 95 48 269 415 380 324 235 273 230 Portfolio equity flows 0 0 0 10 9 9 6 1 2 1 Grants (excluding technical coop.) 12 27 287 497 304 513 367 238 216 667 Memo: 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 -285 129 Interest on long-term debt 12 590 443 473 413 615 544 462 215 280 Profit remittances on FDI 0 188 75 224 227 292 334 284 270 276 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,413 9,680 9,209 11,223 11,003 12,021 11,744 9,885 10,071 11,139 Exports of goods, serv. & inc. (XGS) .. 3,640 3,561 5,182 5,192 5,390 5,410 4,512 4,661 5,892 Worker remit. & comp. of employees 0 32 44 147 136 143 138 119 116 122 Imports of goods & services (MGS) .. 4,761 4,594 5,002 4,966 5,287 5,144 4,423 4,411 4,643 International reserves (RES) 119 46 21 606 618 855 630 668 1,019 1,863 Current account balance .. -1,826 -1,214 -162 -155 -290 -120 -241 -60 767 4. DEBT INDICATORS EDT / XGS (%) .. 205.0 484.5 376.7 300.6 275.5 243.4 269.0 249.3 200.5 EDT / GNI (%) 26.4 77.1 187.3 174.0 141.9 123.6 112.1 122.8 115.4 106.1 TDS / XGS (%) .. 38.7 35.4 26.5 26.2 25.7 26.8 22.6 13.3 14.1 INT / XGS (%) .. 18.8 18.0 9.9 10.0 13.2 11.4 11.9 5.4 5.2 INT / GNI (%) 0.9 7.1 7.0 4.6 4.7 5.9 5.3 5.5 2.5 2.8 RES / EDT (%) 31.8 0.6 0.1 3.1 4.0 5.8 4.8 5.5 8.8 15.8 RES / MGS (months) .. 0.1 0.1 1.5 1.5 1.9 1.5 1.8 2.8 4.8 Short-term / EDT (%) 28.6 14.2 20.8 29.7 17.0 10.6 9.5 8.6 10.1 8.1 Concessional / EDT (%) 32.5 5.9 17.9 24.6 28.9 33.3 33.5 34.0 33.4 38.3 Multilateral / EDT (%) 3.8 7.0 20.8 18.8 21.1 23.5 23.9 24.4 23.7 25.7 161 COTE D'IVOIRE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 267 6,339 13,223 13,216 12,498 12,632 11,295 10,546 9,975 10,369 Public and publicly guaranteed 256 4,327 10,665 11,367 10,427 10,800 9,699 9,063 8,603 9,110 Official 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 2,553 Private 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 15 Private 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 1,259 Memo: 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 12 223 Public and publicly guaranteed 78 1,414 769 475 185 393 194 148 12 223 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 3 86 261 18 0 0 0 0 0 0 IDA 0 0 0 235 140 190 53 76 5 174 PRINCIPAL REPAYMENTS 30 722 498 812 816 670 823 442 302 436 Public and publicly guaranteed 28 517 319 521 525 380 533 329 192 322 Official creditors 9 55 247 510 329 354 484 283 192 322 Multilateral 0 17 230 304 264 255 238 143 106 229 Concessional 0 2 70 47 44 42 42 34 3 16 Bilateral 9 38 16 206 65 99 246 140 86 93 Concessional 6 16 5 34 24 64 174 97 67 79 Private creditors 19 462 72 11 196 26 49 46 0 1 Bonds 2 0 1 0 0 23 46 46 0 0 Commercial banks 2 301 25 5 193 0 0 0 0 0 Other private 15 161 46 6 3 3 3 0 0 1 Private nonguaranteed 2 205 179 292 292 290 290 113 110 114 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 205 179 292 292 290 290 113 110 114 Memo: IBRD 0 7 125 178 158 139 121 57 72 90 IDA 0 0 0 0 0 0 0 0 0 13 NET FLOWS ON DEBT 51 1,017 521 64 -580 -225 -577 -294 -291 -213 Public and publicly guaranteed 49 897 450 -46 -340 13 -340 -181 -181 -99 Official 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 -79 Private 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 -1 Private 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 -114 Memo: IBRD 3 78 136 -160 -158 -139 -121 -57 -72 -90 IDA 0 0 0 235 140 190 53 75 5 161 162 COTE D'IVOIRE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 12 590 443 473 413 615 544 462 215 280 Public and publicly guaranteed 12 353 205 330 270 506 458 342 113 184 Official creditors 4 77 187 328 269 369 313 189 113 184 Multilateral 0 32 176 213 165 140 129 78 70 144 Concessional 0 1 3 7 10 11 12 11 9 19 Bilateral 4 45 12 116 103 229 184 111 44 40 Concessional 3 13 2 69 65 134 106 47 38 36 Private creditors 7 275 18 1 1 137 146 153 0 0 Bonds 1 1 0 0 0 136 145 153 0 0 Commercial banks 3 176 7 1 0 0 0 0 0 0 Other private 4 98 12 1 1 1 1 0 0 0 Private nonguaranteed 0 237 237 143 143 109 86 120 102 96 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 237 237 143 143 109 86 120 102 96 Memo: IBRD 0 22 141 112 87 69 57 32 38 49 IDA 0 0 0 5 8 8 10 8 8 15 NET TRANSFERS ON DEBT 39 427 78 -409 -993 -840 -1,121 -756 -506 -493 Public and publicly guaranteed 38 544 245 -376 -610 -493 -798 -523 -294 -283 Official 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 -115 Private 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 -1 Private 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 -210 Memo: 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 1,367 904 518 716 Public and publicly guaranteed 40 870 524 850 794 886 992 671 306 507 Official 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 88 198 280 144 105 115 Private 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 1 Private 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 2 442 417 435 435 399 376 233 212 210 Memo: 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 1,221 909 892 888 687 456 409 513 Official creditors 108 747 1,122 907 885 884 686 456 409 513 Private creditors 61 976 99 3 8 4 1 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 33.0 31.5 Deutsche mark 10.5 4.5 3.9 4.2 3.5 3.5 3.1 2.9 .. .. French franc 47.7 34.6 38.1 38.9 27.1 27.9 25.9 25.0 .. .. Japanese yen 0.0 0.6 0.9 1.3 1.1 1.2 1.5 1.4 1.3 1.2 Pound sterling 0.0 1.4 1.3 0.9 0.8 0.7 0.6 0.6 0.5 0.4 Swiss franc 0.0 6.3 2.3 0.4 0.2 0.2 0.2 0.2 0.2 0.1 U.S.dollars 25.4 31.5 15.5 25.1 40.9 49.4 52.0 53.7 54.6 56.8 Multiple currency 2.1 9.9 22.7 18.1 16.3 6.4 6.4 6.1 5.9 5.1 Special drawing rights 0.0 0.0 0.4 0.6 0.2 0.3 0.3 0.4 0.4 0.4 All other currencies 14.3 11.2 14.9 10.6 9.8 10.5 9.9 9.6 4.1 4.5 163 COTE D'IVOIRE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 1 Debt forgiven .. .. 50 8 0 103 16 22 12 323 Memo: interest forgiven .. .. 0 2 0 20 8 7 2 140 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 80.9 Official 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 80.9 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 138 138 119 40 31 20 15 8 3 2 Principal 689 681 592 567 664 649 619 569 557 536 Interest 225 199 293 269 244 221 199 180 163 144 Official creditors Disbursements 138 138 119 40 31 20 15 8 3 2 Principal 527 520 432 406 360 344 314 264 252 246 Interest 159 134 229 205 182 162 143 127 114 101 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 314 314 242 227 201 196 182 170 170 163 Interest 71 57 164 151 138 127 116 106 96 86 Multilateral creditors Disbursements 138 138 119 40 31 20 15 8 3 2 Principal 213 206 190 180 159 149 132 94 83 83 Interest 88 77 65 54 44 35 27 21 18 15 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 162 161 161 161 305 305 305 305 305 290 Interest 66 65 64 63 62 59 56 53 50 43 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 162 161 161 161 305 305 305 305 305 290 Interest 66 65 64 63 62 59 56 53 50 43 164 CROATIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 5,309 7,981 10,470 10,818 11,344 11,360 15,347 Long-term debt (LDOD) .. .. .. 4,668 7,181 9,587 9,933 10,490 10,966 14,984 Public and publicly guaranteed .. .. .. 3,337 4,274 4,925 5,523 6,111 6,424 7,679 Private nonguaranteed .. .. .. 1,330 2,907 4,662 4,410 4,379 4,541 7,305 Use of IMF credit .. .. .. 209 233 234 197 158 122 0 Short-term debt .. .. .. 432 568 649 688 696 272 362 of 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 65 Memo: principal arrears on LDOD .. .. .. 132 180 212 231 209 470 489 Official creditors .. .. .. 1 0 16 0 1 9 0 Private creditors .. .. .. 131 180 196 231 208 461 488 Memo: 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 4,973 Long-term debt .. .. .. 974 3,408 2,760 2,890 3,309 3,603 4,973 IMF purchases .. .. .. 0 40 0 0 0 0 0 Principal repayments .. .. .. 421 785 1,334 1,549 2,138 2,684 2,446 Long-term debt .. .. .. 417 783 1,325 1,518 2,109 2,654 2,320 IMF repurchases .. .. .. 5 2 9 31 29 31 126 Net flows on debt .. .. .. 543 2,790 1,492 1,375 1,182 479 2,612 of which short-term debt .. .. .. -10 127 66 35 11 -440 85 Interest payments (INT) .. .. .. 109 376 474 546 592 634 572 Long-term debt .. .. .. 83 347 429 504 549 621 564 IMF charges .. .. .. 10 10 11 9 9 7 3 Short-term debt .. .. .. 16 19 34 34 34 7 6 Net transfers on debt .. .. .. 434 2,415 1,018 829 590 -156 2,040 Total debt service paid (TDS) .. .. .. 530 1,161 1,808 2,096 2,730 3,318 3,018 Long-term debt .. .. .. 500 1,129 1,754 2,022 2,658 3,274 2,884 IMF repurchases and charges .. .. .. 14 12 20 40 38 38 129 Short-term debt (interest only) .. .. .. 16 19 34 34 34 7 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 1,087 3,213 2,404 2,849 2,334 2,592 3,764 Net flow of long-term debt (ex. IMF) .. .. .. 557 2,626 1,435 1,372 1,200 950 2,653 Foreign direct investment (net) .. .. .. 511 533 932 1,467 1,089 1,561 981 Portfolio equity flows .. .. .. -7 16 1 -19 0 14 78 Grants (excluding technical coop.) .. .. .. 25 39 36 28 46 67 53 Memo: 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 2,841 Interest on long-term debt .. .. .. 83 347 429 504 549 621 564 Profit remittances on FDI .. .. .. 8 69 106 70 162 311 359 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 19,802 20,086 21,464 19,550 18,021 19,019 21,918 Exports of goods, serv. & inc. (XGS) .. .. .. 8,744 8,893 9,445 8,826 9,546 10,621 11,636 Worker remit. & comp. of employees .. .. .. 650 594 601 529 620 706 839 Imports of goods & services (MGS) .. .. .. 10,212 12,064 11,098 10,402 10,351 11,744 13,652 International reserves (RES) .. .. .. 2,314 2,539 2,816 3,025 3,524 4,703 5,885 Current account balance .. .. .. -1,049 -2,825 -1,468 -1,397 -459 -726 -1,606 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 60.7 89.7 110.9 122.6 118.8 107.0 131.9 EDT / GNI (%) .. .. .. 26.8 39.7 48.8 55.3 62.9 59.7 70.0 TDS / XGS (%) .. .. .. 6.1 13.0 19.1 23.7 28.6 31.2 25.9 INT / XGS (%) .. .. .. 1.2 4.2 5.0 6.2 6.2 6.0 4.9 INT / GNI (%) .. .. .. 0.5 1.9 2.2 2.8 3.3 3.3 2.6 RES / EDT (%) .. .. .. 43.6 31.8 26.9 28.0 31.1 41.4 38.3 RES / MGS (months) .. .. .. 2.7 2.5 3.0 3.5 4.1 4.8 5.2 Short-term / EDT (%) .. .. .. 8.1 7.1 6.2 6.4 6.1 2.4 2.4 Concessional / EDT (%) .. .. .. 6.1 3.7 3.1 2.9 2.8 2.8 2.5 Multilateral / EDT (%) .. .. .. 7.0 5.9 5.4 5.5 5.2 5.8 5.9 165 CROATIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 4,668 7,181 9,587 9,933 10,490 10,966 14,984 Public and publicly guaranteed .. .. .. 3,337 4,274 4,925 5,523 6,111 6,424 7,679 Official 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 .. .. .. 306 269 272 247 239 232 250 Private 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 .. .. .. 119 326 246 168 179 163 156 Private 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 7,305 Memo: 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 4,973 Public and publicly guaranteed .. .. .. 391 1,499 1,044 1,215 1,513 1,413 1,667 Official 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 9 Private 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 47 Private 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 3,306 Memo: 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 2,320 Public and publicly guaranteed .. .. .. 283 374 494 338 696 924 1,181 Official 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 17 Private 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 64 Private 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 1,139 Memo: 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 2,653 Public and publicly guaranteed .. .. .. 108 1,125 550 877 817 489 486 Official 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 -8 Private 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 -17 Private 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 2,167 Memo: IBRD .. .. .. 89 100 91 67 34 57 105 IDA .. .. .. 0 0 0 0 0 0 0 166 CROATIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 83 347 429 504 549 621 564 Public and publicly guaranteed .. .. .. 47 271 274 358 393 422 378 Official creditors .. .. .. 34 102 91 89 80 83 77 Multilateral .. .. .. 26 31 32 35 32 31 38 Concessional .. .. .. 1 2 1 3 3 2 5 Bilateral .. .. .. 8 71 60 55 48 53 39 Concessional .. .. .. 1 11 9 10 9 11 7 Private creditors .. .. .. 13 169 183 268 313 339 301 Bonds .. .. .. 1 113 129 194 223 251 235 Commercial banks .. .. .. 7 36 30 69 78 79 59 Other private .. .. .. 4 19 23 5 13 9 7 Private nonguaranteed .. .. .. 37 76 155 147 156 198 186 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 37 76 155 147 156 198 186 Memo: IBRD .. .. .. 11 15 17 20 19 19 25 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 474 2,279 1,006 868 651 329 2,090 Public and publicly guaranteed .. .. .. 61 854 276 519 423 66 108 Official 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 -16 Private 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 -24 Private 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 1,982 Memo: 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 2,884 Public and publicly guaranteed .. .. .. 329 645 768 696 1,089 1,347 1,559 Official 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 24 Private 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 71 Private 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 1,325 Memo: 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 1,043 Official creditors .. .. .. 417 422 491 792 435 745 700 Private creditors .. .. .. 409 188 445 442 254 517 344 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 47.4 56.2 Deutsche mark .. .. .. 17.1 19.5 21.3 20.4 17.1 .. .. French franc .. .. .. 3.3 2.1 1.7 1.3 1.0 .. .. Japanese yen .. .. .. 1.7 0.8 0.5 4.9 9.6 10.9 10.1 Pound sterling .. .. .. 1.9 1.3 1.0 0.8 0.6 0.5 0.4 Swiss franc .. .. .. 1.5 1.3 1.6 1.6 2.0 1.8 1.8 U.S.dollars .. .. .. 56.9 55.6 53.6 49.9 40.8 35.5 28.2 Multiple currency .. .. .. 5.8 5.2 4.9 4.8 4.2 3.6 3.1 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 11.8 14.2 15.4 16.3 24.7 0.3 0.3 167 CROATIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. .. 0 0 0 0 0 0 1 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 22.5 Official 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 35.7 Private 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 20.6 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 455 271 131 69 44 31 19 11 7 3 Principal 2,269 2,478 2,393 2,044 1,411 958 1,150 386 1,294 630 Interest 640 582 486 373 282 211 162 123 70 58 Official creditors Disbursements 237 179 100 67 44 31 19 11 7 3 Principal 200 225 213 246 287 290 280 153 146 101 Interest 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 12 Private creditors Disbursements 218 92 31 2 1 0 0 0 0 0 Principal 2,069 2,254 2,181 1,798 1,124 668 869 233 1,149 529 Interest 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 41 168 CZECH REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 20,066 23,077 24,215 22,797 21,525 22,339 26,419 Long-term debt (LDOD) .. .. .. 14,346 15,009 16,600 14,010 12,508 12,758 15,661 Public and publicly guaranteed .. .. .. 12,218 12,837 11,558 7,683 6,480 5,643 6,904 Private nonguaranteed .. .. .. 2,128 2,172 5,043 6,327 6,028 7,115 8,757 Use of IMF credit .. .. .. 0 0 0 0 0 0 0 Short-term debt .. .. .. 5,720 8,068 7,615 8,787 9,018 9,581 10,758 of 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 90 Memo: 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 98 128 127 248 Memo: 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 4,457 Long-term debt .. .. .. 5,110 4,143 5,278 2,881 1,561 3,117 4,457 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 1,664 3,331 3,458 4,229 3,443 3,356 3,141 Long-term debt .. .. .. 1,664 3,331 3,458 4,229 3,443 3,356 3,141 IMF repurchases .. .. .. 0 0 0 0 0 0 0 Net flows on debt .. .. .. 4,110 3,166 1,363 -205 -1,670 333 1,004 of which short-term debt .. .. .. 664 2,354 -456 1,143 212 572 -312 Interest payments (INT) .. .. .. 955 1,129 1,555 1,634 1,431 1,455 1,393 Long-term debt .. .. .. 768 920 1,134 1,214 1,053 1,092 1,002 IMF charges .. .. .. 0 0 0 0 0 0 0 Short-term debt .. .. .. 187 209 420 420 378 364 391 Net transfers on debt .. .. .. 3,155 2,037 -191 -1,839 -3,101 -1,123 -390 Total debt service paid (TDS) .. .. .. 2,619 4,460 5,013 5,863 4,874 4,812 4,534 Long-term debt .. .. .. 2,432 4,251 4,592 5,443 4,496 4,448 4,143 IMF repurchases and charges .. .. .. 0 0 0 0 0 0 0 Short-term debt (interest only) .. .. .. 187 209 420 420 378 364 391 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 5,552 2,555 6,672 5,205 3,819 6,110 10,501 Net flow of long-term debt (ex. IMF) .. .. .. 3,446 812 1,820 -1,348 -1,882 -239 1,316 Foreign direct investment (net) .. .. .. 1,435 1,287 3,700 6,313 4,987 5,641 9,323 Portfolio equity flows .. .. .. 601 378 1,096 120 619 616 -265 Grants (excluding technical coop.) .. .. .. 70 78 56 122 94 92 127 Memo: 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 6,026 Interest on long-term debt .. .. .. 768 920 1,134 1,214 1,053 1,092 1,002 Profit remittances on FDI .. .. .. 75 56 354 1,045 1,379 2,129 3,473 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 57,018 52,185 55,896 53,631 50,061 54,989 65,733 Exports of goods, serv. & inc. (XGS) .. .. .. 31,301 30,855 35,263 35,167 37,811 42,728 47,756 Worker remit. & comp. of employees .. .. .. 111 71 346 311 294 257 333 Imports of goods & services (MGS) .. .. .. 35,812 34,842 37,088 37,220 40,873 46,471 53,153 International reserves (RES) .. .. .. 13,085 10,036 12,625 12,936 13,142 14,464 23,707 Current account balance .. .. .. -4,128 -3,622 -1,308 -1,466 -2,690 -3,273 -4,485 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 64.1 74.8 68.7 64.8 56.9 52.3 55.3 EDT / GNI (%) .. .. .. 35.2 44.2 43.3 42.5 43.0 40.6 40.2 TDS / XGS (%) .. .. .. 8.4 14.5 14.2 16.7 12.9 11.3 9.5 INT / XGS (%) .. .. .. 3.1 3.7 4.4 4.6 3.8 3.4 2.9 INT / GNI (%) .. .. .. 1.7 2.2 2.8 3.0 2.9 2.6 2.1 RES / EDT (%) .. .. .. 65.2 43.5 52.1 56.7 61.1 64.7 89.7 RES / MGS (months) .. .. .. 4.4 3.5 4.1 4.2 3.9 3.7 5.4 Short-term / EDT (%) .. .. .. 28.5 35.0 31.4 38.5 41.9 42.9 40.7 Concessional / EDT (%) .. .. .. 0.5 0.5 0.7 0.8 1.1 1.3 1.2 Multilateral / EDT (%) .. .. .. 4.6 3.3 3.3 3.2 3.3 3.6 3.9 169 CZECH REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 14,346 15,009 16,600 14,010 12,508 12,758 15,661 Public and publicly guaranteed .. .. .. 12,218 12,837 11,558 7,683 6,480 5,643 6,904 Official 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 93 152 166 219 270 320 Private 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 .. .. .. 692 511 623 771 450 629 517 Private 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 8,557 Memo: 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 4,457 Public and publicly guaranteed .. .. .. 4,140 3,422 3,012 1,152 385 369 1,005 Official 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 18 Private 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 0 Private 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 3,452 Memo: 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 3,141 Public and publicly guaranteed .. .. .. 1,370 2,530 2,034 2,147 1,426 1,268 965 Official 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 13 Private 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 51 216 120 113 Private 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 2,176 Memo: 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 1,316 Public and publicly guaranteed .. .. .. 2,770 892 978 -995 -1,041 -900 40 Official 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 5 Private 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 -113 Private 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 1,276 Memo: IBRD .. .. .. 32 -17 -21 -36 -43 -41 -41 IDA .. .. .. 0 0 0 0 0 0 0 170 CZECH REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 768 920 1,134 1,214 1,053 1,092 1,002 Public and publicly guaranteed .. .. .. 637 803 1,003 942 759 627 471 Official 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 14 Private 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 33 Private nonguaranteed .. .. .. 130 117 131 272 295 464 531 Bonds .. .. .. 4 31 31 47 38 20 18 Commercial banks and other .. .. .. 126 86 101 224 257 444 513 Memo: 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 -1,331 314 Public and publicly guaranteed .. .. .. 2,133 89 -25 -1,937 -1,800 -1,527 -431 Official 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 -9 Private 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 -146 Private 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 -1,098 498 763 Memo: 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 4,143 Public and publicly guaranteed .. .. .. 2,007 3,333 3,037 3,089 2,185 1,896 1,436 Official 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 27 Private 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 96 129 298 197 146 Private 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 2,689 Memo: IBRD .. .. .. 39 66 71 78 60 55 52 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 2,399 1,973 1,439 1,099 970 347 215 Official creditors .. .. .. 954 773 729 517 454 277 174 Private creditors .. .. .. 1,445 1,199 709 583 516 71 41 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 33.4 35.4 Deutsche 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 2.0 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 2.0 1.6 0.6 0.3 0.0 0.0 0.0 U.S.dollars .. .. .. 74.3 78.4 71.6 54.7 58.0 51.2 53.5 Multiple currency .. .. .. 9.5 7.9 7.9 13.6 10.1 12.8 9.1 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 15.2 4.3 2.2 2.5 8.7 11.5 0.0 0.0 171 CZECH REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 2 0 0 3 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 15.9 Official 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 0.0 Private 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 15.9 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 97 59 32 16 7 2 1 0 0 0 Principal 3,294 2,008 2,059 2,118 1,307 1,296 1,180 796 743 387 Interest 720 602 529 446 361 263 186 143 63 33 Official creditors Disbursements 71 49 29 15 7 2 1 0 0 0 Principal 152 155 153 159 131 117 108 103 103 95 Interest 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 10 Private creditors Disbursements 26 10 3 1 0 0 0 0 0 0 Principal 3,142 1,853 1,906 1,959 1,176 1,179 1,072 693 641 292 Interest 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 7 172 DJIBOUTI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2.6 31.8 205.3 295.8 273.7 287.8 274.6 262.2 262.7 335.3 Long-term debt (LDOD) 2.6 25.8 155.2 279.3 253.0 263.8 248.4 237.9 235.7 305.2 Public and publicly guaranteed 2.6 25.8 155.2 279.3 253.0 263.8 248.4 237.9 235.7 305.2 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.0 0.0 4.1 5.4 8.9 12.7 13.4 15.5 20.5 Short-term debt 0.0 6.0 50.1 12.4 15.3 15.1 13.5 10.9 11.5 9.6 of which interest arrears on LDOD 0.0 0.0 0.1 4.2 4.3 6.3 6.6 6.9 7.4 6.2 Official creditors 0.0 0.0 0.1 4.2 4.3 6.3 6.6 6.9 7.4 5.6 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 Memo: principal arrears on LDOD 0.0 0.0 1.2 14.6 12.6 20.5 23.5 24.4 26.8 7.7 Official creditors 0.0 0.0 1.2 14.6 12.6 20.5 23.5 24.4 26.8 5.7 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 Memo: export credits 0.0 0.0 27.0 5.0 17.4 6.5 3.1 2.3 3.4 6.9 TOTAL DEBT FLOWS Disbursements 1.4 10.2 27.0 27.8 13.5 8.2 8.3 11.3 16.9 36.8 Long-term debt 1.4 10.2 27.0 23.6 12.0 5.1 3.2 7.7 12.2 30.9 IMF purchases 0.0 0.0 0.0 4.2 1.5 3.2 5.1 3.6 4.6 5.9 Principal repayments 0.1 2.2 8.9 8.8 5.0 3.3 7.3 10.7 8.9 9.5 Long-term debt 0.1 2.2 8.9 8.8 5.0 3.3 6.3 8.4 6.8 7.2 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.3 2.0 2.3 Net flows on debt 1.3 9.0 20.8 17.9 11.3 2.7 -0.9 -2.2 8.0 26.6 of which short-term debt 0.0 1.0 2.8 -1.2 2.8 -2.2 -1.9 -2.9 0.1 -0.6 Interest payments (INT) 0.0 1.7 6.0 3.2 2.2 2.1 2.7 2.8 1.7 2.5 Long-term debt 0.0 0.9 2.1 2.7 1.5 1.5 1.9 2.2 1.3 2.2 IMF charges 0.0 0.0 0.0 0.1 0.2 0.3 0.4 0.4 0.3 0.2 Short-term debt 0.0 0.8 3.9 0.4 0.5 0.4 0.4 0.2 0.2 0.1 Net transfers on debt 1.3 7.3 14.8 14.6 9.0 0.6 -3.6 -5.1 6.3 24.1 Total debt service paid (TDS) 0.1 3.9 14.9 12.0 7.3 5.4 10.0 13.5 10.6 12.1 Long-term debt 0.1 3.1 11.0 11.5 6.6 4.8 8.2 10.6 8.1 9.4 IMF repurchases and charges 0.0 0.0 0.0 0.1 0.2 0.3 1.4 2.7 2.3 2.5 Short-term debt (interest only) 0.0 0.8 3.9 0.4 0.5 0.4 0.4 0.2 0.2 0.1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5.6 38.0 148.9 60.5 47.8 53.1 43.6 30.5 27.6 52.7 Net 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 23.7 Foreign direct investment (net) 0.0 0.2 0.1 3.3 2.4 3.5 4.2 3.3 3.4 3.5 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 4.3 29.8 130.7 42.4 38.4 47.8 42.5 27.9 18.8 25.6 Memo: 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 48.9 Interest on long-term debt 0.0 0.9 2.1 2.7 1.5 1.5 1.9 2.2 1.3 2.2 Profit remittances on FDI 0.0 0.0 0.0 3.2 3.6 4.4 1.6 2.0 1.8 1.6 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 509.7 514.9 524.9 548.3 568.7 588.9 609.8 Exports 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 0.0 Imports of goods & services (MGS) .. .. .. .. .. .. .. .. .. .. International reserves (RES) .. .. 93.6 77.0 66.6 66.5 70.6 67.8 70.3 73.7 Current account balance .. .. .. .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. .. .. .. .. .. .. EDT / GNI (%) .. .. .. 58.0 53.2 54.8 50.1 46.1 44.6 55.0 TDS / XGS (%) .. .. .. .. .. .. .. .. .. .. INT / XGS (%) .. .. .. .. .. .. .. .. .. .. INT / GNI (%) .. .. .. 0.6 0.4 0.4 0.5 0.5 0.3 0.4 RES / EDT (%) .. .. 45.6 26.0 24.3 23.1 25.7 25.9 26.8 22.0 RES / MGS (months) .. .. .. .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 18.9 24.4 4.2 5.6 5.2 4.9 4.2 4.4 2.9 Concessional / EDT (%) 100.0 45.7 74.0 93.9 92.1 91.4 90.2 90.5 89.3 87.8 Multilateral / EDT (%) 0.0 7.3 41.9 46.3 49.8 50.2 51.3 52.8 54.7 58.7 173 DJIBOUTI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 2.6 25.8 155.2 279.3 253.0 263.8 248.4 237.9 235.7 305.2 Public and publicly guaranteed 2.6 25.8 155.2 279.3 253.0 263.8 248.4 237.9 235.7 305.2 Official creditors 2.6 21.2 155.2 279.3 253.0 263.8 248.4 237.9 235.7 299.7 Multilateral 0.0 2.3 86.1 137.0 136.3 144.6 140.8 138.3 143.8 197.0 Concessional 0.0 1.0 83.0 135.7 135.4 143.8 140.1 137.7 142.7 193.7 Bilateral 2.6 18.9 69.2 142.2 116.7 119.3 107.6 99.6 91.9 102.7 Concessional 2.6 13.5 68.9 142.2 116.7 119.3 107.6 99.6 91.9 100.9 Private creditors 0.0 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.6 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 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.6 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 31.1 45.7 46.1 49.5 49.0 49.9 56.1 78.5 DISBURSEMENTS 1.4 10.2 27.0 23.6 12.0 5.1 3.2 7.7 12.2 30.9 Public and publicly guaranteed 1.4 10.2 27.0 23.6 12.0 5.1 3.2 7.7 12.2 30.9 Official creditors 1.4 5.3 27.0 23.6 12.0 5.1 3.2 7.7 12.2 30.9 Multilateral 0.0 2.4 8.9 10.6 9.6 4.9 3.2 7.7 12.2 26.6 Concessional 0.0 1.0 8.9 10.6 9.6 4.9 3.2 7.7 11.7 25.2 Bilateral 1.4 2.9 18.0 13.1 2.4 0.2 0.0 0.0 0.0 4.3 Concessional 1.4 0.0 18.0 13.1 2.4 0.2 0.0 0.0 0.0 2.5 Private creditors 0.0 5.0 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 0.0 5.0 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 0.0 0.0 0.0 Private 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 0.0 Memo: 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 1.4 3.3 2.0 0.9 3.9 8.9 17.7 PRINCIPAL REPAYMENTS 0.1 2.2 8.9 8.8 5.0 3.3 6.3 8.4 6.8 7.2 Public and publicly guaranteed 0.1 2.2 8.9 8.8 5.0 3.3 6.3 8.4 6.8 7.2 Official creditors 0.1 2.2 8.3 8.8 5.0 3.3 6.3 8.4 6.8 7.2 Multilateral 0.0 0.0 3.5 4.3 2.1 1.9 3.0 4.0 1.6 2.7 Concessional 0.0 0.0 3.3 4.1 1.9 1.7 3.0 4.0 1.6 2.2 Bilateral 0.1 2.2 4.8 4.4 2.9 1.4 3.3 4.4 5.2 4.5 Concessional 0.1 1.7 4.7 4.4 2.9 1.4 3.3 4.4 5.2 4.5 Private creditors 0.0 0.0 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 0.0 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 0.0 Private 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 0.0 Memo: 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 0.0 0.3 0.3 0.4 0.3 0.5 0.6 0.6 NET FLOWS ON DEBT 1.3 8.0 18.0 14.9 6.9 1.8 -3.1 -0.7 5.4 23.7 Public and publicly guaranteed 1.3 8.0 18.0 14.9 6.9 1.8 -3.1 -0.7 5.4 23.7 Official 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 -2.0 Private 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 0.0 Private 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 0.0 Memo: 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 17.1 174 DJIBOUTI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.0 0.9 2.1 2.7 1.5 1.5 1.9 2.2 1.3 2.2 Public and publicly guaranteed 0.0 0.9 2.1 2.7 1.5 1.5 1.9 2.2 1.3 2.2 Official creditors 0.0 0.9 2.1 2.7 1.5 1.5 1.9 2.2 1.3 2.2 Multilateral 0.0 0.0 1.3 1.6 1.0 1.1 1.2 1.4 0.8 1.6 Concessional 0.0 0.0 1.3 1.6 1.0 1.1 1.2 1.4 0.8 1.5 Bilateral 0.0 0.9 0.8 1.1 0.5 0.4 0.7 0.8 0.5 0.6 Concessional 0.0 0.7 0.7 1.1 0.5 0.4 0.7 0.8 0.5 0.6 Private creditors 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 0.2 0.3 0.3 0.4 0.3 0.4 0.4 0.4 NET TRANSFERS ON DEBT 1.3 7.1 15.9 12.1 5.4 0.3 -5.0 -2.9 4.1 21.4 Public and publicly guaranteed 1.3 7.1 15.9 12.1 5.4 0.3 -5.0 -2.9 4.1 21.4 Official 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 -2.6 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.1 3.1 11.0 11.5 6.6 4.8 8.2 10.6 8.1 9.4 Public and publicly guaranteed 0.1 3.1 11.0 11.5 6.6 4.8 8.2 10.6 8.1 9.4 Official creditors 0.1 3.1 10.4 11.5 6.6 4.8 8.2 10.6 8.1 9.4 Multilateral 0.0 0.0 4.9 5.9 3.1 3.0 4.3 5.4 2.4 4.3 Concessional 0.0 0.0 4.6 5.6 2.8 2.8 4.3 5.4 2.4 3.8 Bilateral 0.1 3.1 5.5 5.6 3.5 1.7 4.0 5.1 5.8 5.1 Concessional 0.1 2.4 5.5 5.5 3.5 1.7 4.0 5.1 5.8 5.1 Private creditors 0.0 0.0 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 0.0 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 0.0 Private 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 0.0 Memo: 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 0.2 0.7 0.7 0.8 0.6 0.9 1.0 1.0 UNDISBURSED DEBT 0.0 23.4 161.4 59.3 49.3 50.8 99.6 138.1 162.6 150.7 Official creditors 0.0 23.4 161.4 55.7 45.7 47.2 96.0 134.6 162.6 148.2 Private creditors 0.0 0.0 0.0 3.6 3.6 3.6 3.6 3.6 0.0 2.5 Memorandum items Concessional LDOD 2.6 14.5 151.9 277.9 252.1 263.1 247.8 237.3 234.6 294.6 Variable rate LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD 2.6 25.8 155.2 279.3 253.0 263.8 248.4 237.9 235.7 305.2 Private sector LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 18.6 16.0 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 100.0 91.0 3.1 3.1 2.8 2.9 2.7 2.6 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 0.0 2.9 13.9 11.9 13.6 14.1 14.9 16.2 19.1 26.3 Multiple currency 0.0 0.6 16.8 21.9 22.9 23.1 23.9 24.3 24.0 20.5 Special drawing rights 0.0 0.4 8.9 5.8 5.9 5.8 6.0 5.8 5.6 4.6 All other currencies 0.0 5.1 57.4 57.3 54.8 54.0 52.5 51.1 32.7 32.6 175 DJIBOUTI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 0.0 16.1 0.0 0.0 0.0 0.0 1.2 Memo: interest forgiven .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.3 2.1 0.8 6.9 0.8 0.8 1.6 2.3 1.9 1.6 Maturity (years) 19.5 18.0 39.7 8.2 30.4 47.6 30.0 29.9 31.9 30.7 Grace period (years) 1.0 7.4 10.2 3.4 4.1 10.4 7.0 6.9 8.0 7.6 Grant element (%) 38.0 55.0 80.5 12.8 66.9 82.7 65.6 59.5 64.9 64.9 Official creditors Interest (%) 3.3 1.0 0.8 6.9 0.8 0.8 1.6 2.3 1.9 1.6 Maturity (years) 19.5 20.1 39.7 8.4 30.4 47.6 30.0 29.9 31.9 31.2 Grace period (years) 1.0 8.5 10.2 3.7 4.1 10.4 7.0 6.9 8.0 7.7 Grant element (%) 38.0 64.5 80.5 14.1 66.9 82.7 65.6 59.5 64.9 65.2 Private creditors Interest (%) 0.0 7.5 0.0 7.0 0.0 0.0 0.0 0.0 0.0 1.5 Maturity (years) 0.0 7.5 0.0 7.9 0.0 0.0 0.0 0.0 0.0 19.5 Grace period (years) 0.0 2.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 5.0 Grant element (%) 0.0 8.2 0.0 11.3 0.0 0.0 0.0 0.0 0.0 56.0 Memorandum items Commitments 0 30 6 8 12 12 59 49 44 60 Official creditors 0 25 6 4 12 12 59 49 44 57 Private creditors 0 5 0 4 0 0 0 0 0 3 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 30.9 45.4 33.5 24.2 16.7 11.9 8.0 4.7 2.7 2.0 Principal 7.2 20.6 17.4 18.4 19.6 18.9 19.4 17.9 16.8 17.9 Interest 2.2 4.3 4.7 4.8 4.8 4.7 4.5 4.2 4.0 3.7 Official creditors Disbursements 30.9 44.6 32.5 23.7 16.5 11.8 8.0 4.7 2.7 2.0 Principal 7.2 20.1 17.0 18.2 19.6 18.9 19.1 17.6 16.5 17.6 Interest 2.2 4.2 4.6 4.8 4.8 4.6 4.4 4.2 3.9 3.7 Bilateral creditors Disbursements 4.3 8.1 8.5 5.6 3.7 2.1 1.2 0.6 0.4 0.0 Principal 4.5 14.5 11.0 11.0 11.4 10.6 10.8 9.0 7.3 7.3 Interest 0.6 1.7 1.7 1.7 1.6 1.4 1.3 1.1 0.9 0.8 Multilateral creditors Disbursements 26.6 36.4 24.0 18.1 12.9 9.7 6.8 4.1 2.4 2.0 Principal 2.7 5.5 6.0 7.2 8.2 8.2 8.3 8.6 9.1 10.3 Interest 1.6 2.4 2.9 3.1 3.2 3.2 3.1 3.1 3.0 2.9 Private creditors Disbursements 0.0 0.9 1.0 0.5 0.2 0.1 0.0 0.0 0.0 0.0 Principal 0.0 0.6 0.4 0.2 0.0 0.1 0.2 0.3 0.3 0.3 Interest 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.6 0.4 0.2 0.0 0.0 0.1 0.1 0.1 0.1 Interest 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.9 1.0 0.5 0.2 0.1 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.2 0.2 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 176 DOMINICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 88.0 118.5 106.8 116.0 116.4 164.5 212.7 206.7 Long-term debt (LDOD) .. .. 80.2 102.1 94.6 98.1 97.6 145.5 190.7 178.3 Public and publicly guaranteed .. .. 80.2 102.1 94.6 98.1 97.6 145.5 190.7 178.3 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 5.7 0.8 0.3 0.0 0.0 0.0 0.0 2.8 Short-term debt .. .. 2.0 15.6 12.0 17.9 18.8 19.0 22.0 25.6 of which interest arrears on LDOD .. .. 0.0 0.4 0.0 0.0 0.0 0.0 0.0 2.1 Official creditors .. .. 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.1 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 Memo: principal arrears on LDOD .. .. 0.2 3.1 0.5 0.4 0.4 0.3 0.3 0.9 Official creditors .. .. 0.2 3.1 0.5 0.4 0.4 0.3 0.3 0.4 Private creditors .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.5 Memo: export credits .. .. 8.0 5.6 6.4 2.2 1.1 0.4 0.6 2.2 TOTAL DEBT FLOWS Disbursements .. .. 11.5 7.4 2.8 8.6 9.7 55.2 33.0 14.4 Long-term debt .. .. 11.5 7.4 2.8 8.6 9.7 55.2 33.0 11.8 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.7 Principal repayments .. .. 3.8 3.9 6.9 7.1 7.2 6.9 7.5 5.4 Long-term debt .. .. 2.5 3.1 6.3 6.9 7.2 6.9 7.5 5.4 IMF repurchases .. 0.0 1.4 0.8 0.6 0.2 0.0 0.0 0.0 0.0 Net flows on debt .. .. 7.8 12.2 -7.2 7.3 3.4 48.6 28.6 10.6 of which short-term debt .. .. 0.1 8.7 -3.2 5.8 1.0 0.2 3.0 1.5 Interest payments (INT) .. .. 2.0 3.1 4.1 3.5 3.6 4.0 8.3 5.8 Long-term debt .. .. 1.6 2.1 3.1 2.8 2.6 2.9 7.4 5.1 IMF charges .. 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 0.2 0.9 1.0 0.7 1.0 1.1 0.9 0.7 Net transfers on debt .. .. 5.9 9.1 -11.3 3.8 -0.2 44.6 20.2 4.8 Total debt service paid (TDS) .. .. 5.8 7.0 11.0 10.7 10.9 10.9 15.8 11.1 Long-term debt .. .. 4.1 5.2 9.4 9.7 9.8 9.8 14.9 10.4 IMF repurchases and charges .. 0.0 1.6 0.8 0.6 0.2 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. .. 0.2 0.9 1.0 0.7 1.0 1.1 0.9 0.7 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 25.0 44.8 24.8 32.3 25.4 64.1 46.3 42.3 Net flow of long-term debt (ex. IMF) .. .. 9.0 4.3 -3.5 1.7 2.5 48.4 25.6 6.4 Foreign direct investment (net) .. .. 12.9 17.8 21.1 6.5 18.0 10.8 11.9 14.4 Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 3.1 22.6 7.2 24.1 4.9 5.0 8.8 21.4 Memo: 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 24.2 Interest on long-term debt .. .. 1.6 2.1 3.1 2.8 2.6 2.9 7.4 5.1 Profit remittances on FDI .. .. 5.4 17.0 15.7 15.2 22.8 26.3 13.6 13.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 161.4 217.7 227.2 243.8 242.6 239.2 244.7 217.7 Exports of goods, serv. & inc. (XGS) .. .. 102.8 124.7 140.8 156.3 161.4 149.2 123.8 139.8 Worker remit. & comp. of employees .. .. 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. .. 142.9 186.0 193.4 192.0 210.9 220.8 190.1 187.6 International reserves (RES) .. .. 14.5 22.9 23.9 27.7 31.6 29.4 31.2 45.5 Current account balance .. .. -43.5 -51.2 -42.3 -23.0 -35.9 -53.5 -48.9 -36.4 4. DEBT INDICATORS EDT / XGS (%) .. .. 85.5 95.0 75.9 74.3 72.1 110.3 171.8 147.8 EDT / GNI (%) .. .. 54.5 54.4 47.0 47.6 48.0 68.8 86.9 94.9 TDS / XGS (%) .. .. 5.6 5.6 7.8 6.8 6.7 7.3 12.8 8.0 INT / XGS (%) .. .. 1.9 2.5 2.9 2.3 2.2 2.7 6.7 4.1 INT / GNI (%) .. .. 1.2 1.4 1.8 1.5 1.5 1.7 3.4 2.6 RES / EDT (%) .. .. 16.4 19.3 22.4 23.8 27.1 17.9 14.7 22.0 RES / MGS (months) .. .. 1.2 1.5 1.5 1.7 1.8 1.6 2.0 2.9 Short-term / EDT (%) .. .. 2.3 13.2 11.2 15.4 16.2 11.6 10.3 12.4 Concessional / EDT (%) .. .. 87.3 77.7 80.7 77.3 75.1 60.0 59.7 56.3 Multilateral / EDT (%) .. .. 65.7 55.5 58.8 55.0 57.8 50.6 51.1 49.8 177 DOMINICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 80.2 102.1 94.6 98.1 97.6 145.5 190.7 178.3 Public and publicly guaranteed .. .. 80.2 102.1 94.6 98.1 97.6 145.5 190.7 178.3 Official creditors .. .. 80.2 102.1 94.6 98.1 97.6 115.9 149.4 135.2 Multilateral .. .. 57.8 65.7 62.8 63.8 67.3 83.2 108.7 102.9 Concessional .. .. 54.4 55.8 54.4 55.4 57.3 67.0 87.2 84.9 Bilateral .. .. 22.4 36.3 31.8 34.3 30.3 32.7 40.7 32.3 Concessional .. .. 22.4 36.3 31.8 34.3 30.1 31.8 39.8 31.5 Private creditors .. .. 0.1 0.0 0.0 0.0 0.0 29.6 41.3 43.1 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 29.6 29.6 29.6 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 13.5 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.4 1.7 2.4 2.7 3.4 IDA .. 0.0 10.4 11.7 12.3 14.3 14.5 13.6 13.8 16.6 DISBURSEMENTS .. .. 11.5 7.4 2.8 8.6 9.7 55.2 33.0 11.8 Public and publicly guaranteed .. .. 11.5 7.4 2.8 8.6 9.7 55.2 33.0 11.8 Official 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 1.2 Private 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 1.8 Private 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 0.0 Memo: 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 PRINCIPAL REPAYMENTS .. .. 2.5 3.1 6.3 6.9 7.2 6.9 7.5 5.4 Public and publicly guaranteed .. .. 2.5 3.1 6.3 6.9 7.2 6.9 7.5 5.4 Official creditors .. .. 2.4 3.1 6.3 6.9 7.2 6.9 7.5 5.4 Multilateral .. .. 2.1 2.4 3.5 3.9 4.1 3.8 5.3 3.9 Concessional .. .. 2.1 2.2 2.8 3.2 3.4 3.2 4.8 3.5 Bilateral .. .. 0.3 0.7 2.8 3.0 3.1 3.0 2.1 1.4 Concessional .. .. 0.3 0.7 2.8 3.0 3.1 3.0 2.1 1.4 Private creditors .. .. 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 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 0.0 0.0 Private 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 0.0 Memo: 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 0.1 0.1 0.1 0.1 0.2 NET FLOWS ON DEBT .. .. 9.0 4.3 -3.5 1.7 2.5 48.4 25.6 6.4 Public and publicly guaranteed .. .. 9.0 4.3 -3.5 1.7 2.5 48.4 25.6 6.4 Official 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 -0.2 Private 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 1.8 Private 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 0.0 Memo: 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 1.7 178 DOMINICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 1.6 2.1 3.1 2.8 2.6 2.9 7.4 5.1 Public and publicly guaranteed .. .. 1.6 2.1 3.1 2.8 2.6 2.9 7.4 5.1 Official creditors .. .. 1.6 2.1 3.1 2.8 2.6 2.9 4.5 3.4 Multilateral .. .. 1.4 1.4 1.8 1.7 1.8 1.9 3.2 2.5 Concessional .. .. 1.3 1.2 1.3 1.3 1.5 1.4 2.0 1.7 Bilateral .. .. 0.2 0.7 1.3 1.1 0.8 1.0 1.3 0.9 Concessional .. .. 0.2 0.7 1.3 1.1 0.8 1.0 1.1 0.8 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 2.9 1.7 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 2.8 1.4 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 0.2 0.3 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 IDA .. 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 NET TRANSFERS ON DEBT .. .. 7.4 2.2 -6.6 -1.1 -0.1 45.4 18.2 1.4 Public and publicly guaranteed .. .. 7.4 2.2 -6.6 -1.1 -0.1 45.4 18.2 1.4 Official 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 -1.0 Private 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 1.4 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) .. .. 4.1 5.2 9.4 9.7 9.8 9.8 14.9 10.4 Public and publicly guaranteed .. .. 4.1 5.2 9.4 9.7 9.8 9.8 14.9 10.4 Official creditors .. .. 4.0 5.2 9.4 9.7 9.8 9.8 11.9 8.7 Multilateral .. .. 3.4 3.9 5.3 5.6 5.9 5.8 8.5 6.4 Concessional .. .. 3.4 3.4 4.2 4.5 4.9 4.6 6.8 5.2 Bilateral .. .. 0.6 1.4 4.1 4.1 3.9 4.0 3.4 2.3 Concessional .. .. 0.6 1.4 4.1 4.1 3.9 4.0 3.2 2.2 Private creditors .. .. 0.1 0.0 0.0 0.0 0.0 0.0 2.9 1.7 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 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 0.2 0.3 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 IDA .. 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 UNDISBURSED DEBT .. .. 23.0 35.2 48.5 59.2 101.2 100.9 56.8 43.5 Official creditors .. .. 23.0 35.2 48.5 59.2 70.6 88.8 53.8 42.3 Private creditors .. .. 0.0 0.0 0.0 0.0 30.6 12.2 2.9 1.2 Memorandum items Concessional LDOD .. .. 76.8 92.1 86.2 89.7 87.4 98.7 127.0 116.4 Variable rate LDOD .. .. 0.0 0.0 0.0 0.4 1.7 5.0 11.6 11.4 Public sector LDOD .. .. 80.2 102.1 94.6 98.1 97.6 145.5 190.7 178.3 Private sector LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.7 6.1 Deutsche mark .. .. 8.7 2.7 2.2 2.0 1.4 0.7 .. .. French franc .. .. 9.7 10.9 9.5 9.0 7.1 3.9 .. .. Japanese yen .. .. 0.3 0.9 0.8 0.7 0.7 0.4 0.1 0.0 Pound sterling .. .. 16.5 13.3 11.7 9.1 6.7 2.8 1.9 0.1 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 51.7 60.5 65.1 68.8 73.1 79.7 83.6 87.0 Multiple currency .. .. 0.0 0.0 0.0 0.4 1.7 1.6 1.4 1.6 Special drawing rights .. .. 6.0 3.7 3.6 3.4 3.9 3.7 3.7 3.0 All other currencies .. .. 7.2 8.0 7.1 6.6 5.4 7.2 3.6 2.2 179 DOMINICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 3.3 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 0.0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 58.6 Official 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 58.6 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 11.8 13.3 11.7 7.7 5.1 2.8 1.6 0.8 0.4 0.1 Principal 5.4 19.8 12.9 12.7 11.9 11.4 11.6 11.7 9.4 9.0 Interest 5.1 7.1 6.7 6.5 6.2 5.8 5.5 5.2 4.9 4.7 Official creditors Disbursements 10.0 12.1 11.7 7.7 5.1 2.8 1.6 0.8 0.4 0.1 Principal 5.4 17.8 10.9 10.7 9.9 9.4 10.0 10.1 9.4 9.0 Interest 3.4 4.0 3.7 3.5 3.2 3.0 2.7 2.5 2.2 1.9 Bilateral creditors Disbursements 1.2 0.7 0.6 0.4 0.2 0.1 0.1 0.1 0.0 0.0 Principal 1.4 5.7 2.7 2.8 3.0 2.9 2.9 2.9 1.9 1.9 Interest 0.9 1.2 1.1 1.0 0.9 0.8 0.7 0.5 0.4 0.4 Multilateral creditors Disbursements 8.8 11.4 11.1 7.3 4.8 2.7 1.5 0.8 0.4 0.1 Principal 3.9 12.1 8.3 7.9 6.9 6.5 7.1 7.2 7.4 7.1 Interest 2.5 2.8 2.6 2.5 2.4 2.2 2.1 1.9 1.7 1.5 Private creditors Disbursements 1.8 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 2.0 2.0 2.0 2.0 2.0 1.6 1.6 0.0 0.0 Interest 1.7 3.1 3.1 3.0 2.9 2.8 2.8 2.8 2.8 2.8 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 1.8 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 2.0 2.0 2.0 2.0 2.0 1.6 1.6 0.0 0.0 Interest 1.7 3.1 3.1 3.0 2.9 2.8 2.8 2.8 2.8 2.8 180 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 360 2,002 4,372 4,331 4,240 4,404 4,686 4,541 5,138 6,256 Long-term debt (LDOD) 353 1,473 3,518 3,529 3,461 3,482 3,584 3,311 3,794 4,206 Public and publicly guaranteed 212 1,219 3,419 3,523 3,461 3,482 3,584 3,311 3,794 4,035 Private nonguaranteed 141 254 99 5 0 0 0 0 0 171 Use of IMF credit 7 49 72 96 29 56 54 52 50 27 Short-term debt 0 480 782 707 750 866 1,047 1,178 1,294 2,023 of 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 8 Memo: 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 6 Memo: export credits 0 0 967 1,134 1,103 683 624 567 459 559 TOTAL DEBT FLOWS Disbursements 60 481 138 133 106 187 270 303 897 735 Long-term debt 60 481 138 133 106 133 270 303 897 735 IMF purchases 0 0 0 0 0 54 0 0 0 0 Principal repayments 32 200 146 250 255 181 174 257 377 404 Long-term debt 27 135 88 190 193 153 174 257 377 378 IMF repurchases 5 65 58 60 62 29 0 0 0 26 Net flows on debt 28 438 15 -52 -1 134 237 311 641 1,052 of which short-term debt 0 156 23 65 148 128 142 265 120 721 Interest payments (INT) 13 179 86 198 201 193 204 263 245 267 Long-term debt 13 121 59 163 173 159 158 211 193 212 IMF charges 0 5 9 7 3 1 2 3 2 1 Short-term debt 0 54 19 28 25 34 44 50 50 54 Net transfers on debt 15 259 -71 -250 -202 -60 33 48 395 786 Total debt service paid (TDS) 45 379 232 448 456 375 378 520 622 671 Long-term debt 39 256 147 354 366 311 332 468 570 590 IMF repurchases and charges 5 69 67 66 66 29 2 3 2 27 Short-term debt (interest only) 0 54 19 28 25 34 44 50 50 54 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 114 453 212 93 385 741 1,518 1,043 1,646 1,369 Net flow of long-term debt (ex. IMF) 33 346 50 -57 -87 -20 96 46 521 357 Foreign direct investment (net) 72 93 133 97 421 700 1,338 953 1,079 961 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 9 14 29 54 51 61 84 44 46 51 Memo: 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 11 Interest on long-term debt 13 121 59 163 173 159 158 211 193 212 Profit remittances on FDI 0 66 90 604 712 831 963 1,068 1,090 1,147 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,476 6,421 6,759 13,450 14,547 15,134 16,359 18,694 20,395 20,442 Exports of goods, serv. & inc. (XGS) 284 1,496 2,233 7,237 8,290 8,976 9,724 10,953 10,466 10,478 Worker remit. & comp. of employees 25 183 315 963 1,142 1,406 1,631 1,839 1,982 2,174 Imports of goods & services (MGS) 392 2,238 2,568 7,704 8,716 9,975 10,482 12,193 11,426 11,602 International reserves (RES) 32 279 69 357 396 507 699 632 1,105 475 Current 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 59.7 EDT / GNI (%) 24.4 31.2 64.7 32.2 29.1 29.1 28.6 24.3 25.2 30.6 TDS / XGS (%) 15.8 25.3 10.4 6.2 5.5 4.2 3.9 4.8 5.9 6.4 INT / XGS (%) 4.4 12.0 3.9 2.7 2.4 2.2 2.1 2.4 2.3 2.5 INT / GNI (%) 0.9 2.8 1.3 1.5 1.4 1.3 1.2 1.4 1.2 1.3 RES / EDT (%) 9.0 13.9 1.6 8.2 9.3 11.5 14.9 13.9 21.5 7.6 RES / MGS (months) 1.0 1.5 0.3 0.6 0.5 0.6 0.8 0.6 1.2 0.5 Short-term / EDT (%) 0.1 24.0 17.9 16.3 17.7 19.7 22.3 25.9 25.2 32.3 Concessional / EDT (%) 46.5 20.1 27.5 37.5 36.6 34.9 32.5 31.1 25.8 20.6 Multilateral / EDT (%) 3.9 10.2 19.6 23.4 22.8 22.9 24.0 24.9 24.1 21.7 181 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 353 1,473 3,518 3,529 3,461 3,482 3,584 3,311 3,794 4,206 Public and publicly guaranteed 212 1,219 3,419 3,523 3,461 3,482 3,584 3,311 3,794 4,035 Official 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 1,052 963 890 863 Private 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 30 Private 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 0 171 Memo: IBRD 11 66 238 244 209 204 275 292 317 350 IDA 0 18 20 17 16 15 15 14 13 13 DISBURSEMENTS 60 481 138 133 106 133 270 303 897 735 Public and publicly guaranteed 38 415 138 133 106 133 270 303 897 547 Official creditors 36 319 136 118 77 113 211 124 251 219 Multilateral 11 90 84 95 61 84 176 100 193 167 Concessional 0 51 21 36 26 26 20 13 7 2 Bilateral 25 229 53 24 16 30 35 23 58 52 Concessional 24 42 20 10 5 13 24 23 57 40 Private creditors 2 96 2 15 29 19 58 179 646 328 Bonds 0 0 0 0 0 0 0 0 500 0 Commercial banks 0 72 0 15 29 18 43 179 142 305 Other private 2 24 2 0 0 2 15 0 4 23 Private nonguaranteed 22 67 0 0 0 0 0 0 0 188 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 22 67 0 0 0 0 0 0 0 188 Memo: IBRD 11 39 39 18 13 17 92 39 49 57 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 27 135 88 190 193 153 174 257 377 378 Public and publicly guaranteed 7 62 83 176 188 153 174 257 377 361 Official creditors 6 30 83 147 167 139 158 216 294 252 Multilateral 0 3 38 70 67 59 61 63 73 73 Concessional 0 0 6 19 21 17 17 18 19 19 Bilateral 6 27 44 78 100 80 97 153 222 179 Concessional 3 9 8 50 57 41 51 93 111 87 Private creditors 1 32 0 29 20 14 16 41 82 109 Bonds 0 0 0 0 2 4 4 4 20 20 Commercial banks 0 30 0 9 5 4 10 33 60 81 Other private 1 2 0 19 14 6 3 4 3 8 Private nonguaranteed 20 74 5 14 5 0 0 0 0 17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 20 74 5 14 5 0 0 0 0 17 Memo: IBRD 0 2 19 37 29 24 20 21 23 24 IDA 0 0 0 1 1 1 1 1 1 1 NET FLOWS ON DEBT 33 346 50 -57 -87 -20 96 46 521 357 Public and publicly guaranteed 31 353 56 -43 -82 -20 96 46 521 186 Official 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 -47 Private 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 14 Private 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 0 171 Memo: IBRD 11 37 20 -19 -15 -6 72 18 26 33 IDA 0 0 0 -1 -1 -1 -1 -1 -1 -1 182 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 13 121 59 163 173 159 158 211 193 212 Public and publicly guaranteed 4 92 56 162 173 159 158 211 193 202 Official creditors 4 26 55 121 126 119 120 157 141 111 Multilateral 0 4 32 51 47 45 51 58 65 63 Concessional 0 1 4 9 9 8 8 8 8 7 Bilateral 4 21 23 70 80 74 69 99 76 48 Concessional 2 6 7 48 52 42 40 54 46 29 Private creditors 0 66 1 41 46 40 38 54 52 91 Bonds 0 0 0 34 35 35 32 38 33 63 Commercial banks 0 64 0 4 10 4 6 15 19 27 Other private 0 3 1 3 1 1 0 2 1 1 Private nonguaranteed 8 29 3 1 0 0 0 0 0 9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 29 3 1 0 0 0 0 0 9 Memo: IBRD 0 3 14 19 15 14 16 22 23 22 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 20 226 -8 -221 -260 -178 -63 -165 328 146 Public and publicly guaranteed 27 261 0 -206 -254 -178 -63 -165 328 -16 Official 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 -76 Private 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 13 Private 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 0 162 Memo: IBRD 10 34 6 -38 -31 -20 55 -4 2 11 IDA 0 0 0 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 39 256 147 354 366 311 332 468 570 590 Public and publicly guaranteed 12 154 139 338 360 311 332 468 570 564 Official creditors 10 55 138 268 294 258 277 373 435 363 Multilateral 1 7 70 120 114 104 112 121 138 136 Concessional 0 1 10 28 30 26 24 26 27 27 Bilateral 10 48 68 148 180 154 166 252 297 227 Concessional 4 15 15 98 109 83 91 148 157 116 Private creditors 1 98 1 70 66 53 55 95 135 201 Bonds 0 0 0 34 36 39 36 41 52 83 Commercial banks 0 94 0 13 15 8 16 48 79 108 Other private 1 4 1 22 15 6 3 6 4 10 Private nonguaranteed 28 102 8 15 5 0 0 0 0 26 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 28 102 8 15 5 0 0 0 0 26 Memo: IBRD 0 5 33 56 44 37 37 43 46 46 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 2,405 Official creditors 42 537 483 439 529 874 990 915 966 1,077 Private creditors 22 94 27 22 65 360 487 373 1,005 1,329 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.2 2.6 Deutsche mark 0.0 0.6 2.0 2.0 1.7 1.8 1.5 1.5 .. .. French franc 0.0 0.0 0.5 1.4 1.2 1.2 1.0 0.9 .. .. Japanese yen 0.0 0.0 6.4 6.7 5.7 6.2 6.8 5.0 4.0 4.2 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 93.4 81.8 68.4 65.0 67.4 71.1 72.0 73.8 79.0 79.7 Multiple currency 6.6 11.5 21.8 24.0 23.1 18.8 18.0 18.0 14.5 13.0 Special drawing rights 0.0 0.0 0.2 0.3 0.3 0.3 0.3 0.4 0.3 0.4 All other currencies 0.0 6.0 0.7 0.7 0.6 0.6 0.5 0.4 0.1 0.1 183 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 7 22 130 21 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 1 14 20 30 0 0 0 2 Official .. .. 1 14 20 30 0 0 0 2 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 2 7 110 29 0 0 0 1 Official .. .. 2 7 110 29 0 0 0 1 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 7 3 0 0 0 1 0 0 Memo: interest forgiven .. .. 0 4 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 34.6 Official 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 33.9 Private 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 34.9 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 898 755 419 173 80 38 21 5 5 3 Principal 583 631 721 1,089 505 376 350 278 240 212 Interest 209 209 197 177 110 94 82 72 62 55 Official creditors Disbursements 270 319 231 114 68 38 21 5 5 3 Principal 340 349 393 294 253 189 182 171 156 142 Interest 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 38 Private creditors Disbursements 628 436 188 59 13 0 0 0 0 0 Principal 243 283 328 795 251 187 168 107 84 70 Interest 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 9 184 ECUADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 364 5,997 12,107 14,495 15,418 15,640 16,257 13,717 14,481 16,452 Long-term debt (LDOD) 245 4,422 10,029 12,764 13,216 13,299 15,126 12,772 12,907 13,828 Public and publicly guaranteed 195 3,301 9,865 12,444 12,876 13,089 13,556 11,337 11,251 11,242 Private nonguaranteed 49 1,122 164 320 340 210 1,571 1,435 1,656 2,586 Use of IMF credit 14 0 265 145 133 70 0 148 190 308 Short-term debt 106 1,575 1,814 1,586 2,069 2,272 1,131 797 1,384 2,315 of 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 1 Memo: 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 6 Memo: 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 1,962 Long-term debt 48 1,283 606 1,090 1,828 714 1,269 996 1,353 1,864 IMF purchases 10 0 32 0 0 0 0 150 48 98 Principal repayments 33 535 610 646 1,069 840 1,179 1,072 1,074 1,123 Long-term debt 26 535 495 623 1,066 773 1,111 1,072 1,074 1,123 IMF repurchases 7 0 115 23 3 67 68 0 0 0 Net flows on debt 25 1,174 0 653 1,235 76 -1,048 -181 915 1,771 of which short-term debt 0 426 -28 210 475 202 -1,139 -254 587 932 Interest payments (INT) 10 473 474 675 823 922 1,078 822 982 1,070 Long-term debt 10 365 416 576 715 812 988 717 879 878 IMF charges 0 0 30 7 6 5 2 4 7 8 Short-term debt 0 108 28 92 101 104 87 102 95 184 Net transfers on debt 15 701 -474 -22 412 -846 -2,126 -1,003 -67 701 Total debt service paid (TDS) 43 1,008 1,084 1,321 1,891 1,762 2,256 1,894 2,055 2,193 Long-term debt 36 900 911 1,199 1,781 1,586 2,099 1,789 1,953 2,001 IMF repurchases and charges 7 0 145 30 9 72 69 4 7 8 Short-term debt (interest only) 0 108 28 92 101 104 87 102 95 184 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 113 825 290 1,027 1,561 885 860 712 1,686 2,120 Net flow of long-term debt (ex. IMF) 21 748 110 466 762 -59 158 -76 279 741 Foreign direct investment (net) 89 70 126 500 724 870 648 720 1,330 1,275 Portfolio equity flows 0 0 0 6 22 5 1 0 1 1 Grants (excluding technical coop.) 3 7 53 55 53 69 53 68 76 103 Memo: 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 -284 474 940 Interest on long-term debt 10 365 416 576 715 812 988 717 879 878 Profit remittances on FDI 0 111 125 189 194 231 249 280 333 302 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,646 11,477 9,145 20,255 22,620 22,095 15,375 14,530 19,755 22,689 Exports of goods, serv. & inc. (XGS) .. 2,975 3,337 6,178 6,819 5,918 6,505 7,374 7,236 7,635 Worker remit. & comp. of employees 0 0 51 489 648 799 1,090 1,322 1,421 1,438 Imports of goods & services (MGS) .. 3,647 3,754 6,239 7,253 7,989 5,592 6,488 8,166 9,078 International reserves (RES) 76 1,257 1,009 2,011 2,213 1,739 1,888 1,179 1,074 1,004 Current account balance .. -642 -360 -55 -457 -2,099 918 921 -800 -1,222 4. DEBT INDICATORS EDT / XGS (%) .. 201.6 362.8 234.6 226.1 264.3 249.9 186.0 200.1 215.5 EDT / GNI (%) 22.1 52.3 132.4 71.6 68.2 70.8 105.7 94.4 73.3 72.5 TDS / XGS (%) .. 33.9 32.5 21.4 27.7 29.8 34.7 25.7 28.4 28.7 INT / XGS (%) .. 15.9 14.2 10.9 12.1 15.6 16.6 11.2 13.6 14.0 INT / GNI (%) 0.6 4.1 5.2 3.3 3.6 4.2 7.0 5.7 5.0 4.7 RES / EDT (%) 20.8 21.0 8.3 13.9 14.4 11.1 11.6 8.6 7.4 6.1 RES / MGS (months) .. 4.1 3.2 3.9 3.7 2.6 4.1 2.2 1.6 1.3 Short-term / EDT (%) 29.1 26.3 15.0 10.9 13.4 14.5 7.0 5.8 9.6 14.1 Concessional / EDT (%) 23.2 4.8 7.6 12.9 11.6 12.4 12.6 14.8 13.4 12.0 Multilateral / EDT (%) 13.9 5.4 17.6 20.3 18.6 20.2 20.6 25.1 24.4 21.3 185 ECUADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 245 4,422 10,029 12,764 13,216 13,299 15,126 12,772 12,907 13,828 Public and publicly guaranteed 195 3,301 9,865 12,444 12,876 13,089 13,556 11,337 11,251 11,242 Official 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 1,390 Private 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 55 224 917 339 320 268 237 136 113 105 Private 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 2,586 Memo: 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 1,864 Public and publicly guaranteed 41 968 575 1,090 1,748 714 756 615 630 430 Official 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 40 Private 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 8 Private 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 1,434 Memo: 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 1,123 Public and publicly guaranteed 16 271 470 493 1,006 643 625 555 574 616 Official 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 77 Private 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 17 Private 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 50 130 486 517 499 508 Memo: 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 -76 279 741 Public and publicly guaranteed 25 696 105 596 742 71 132 60 56 -186 Official 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 -37 Private 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 -8 Private 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 -136 223 927 Memo: IBRD 0 24 5 -30 -56 6 8 -21 48 -60 IDA 2 0 -1 -1 -1 -1 -1 -1 -1 -1 186 ECUADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 10 365 416 576 715 812 988 717 879 878 Public and publicly guaranteed 7 288 404 572 711 811 813 544 701 682 Official creditors 4 89 212 271 319 277 291 277 326 309 Multilateral 3 19 140 191 221 179 200 241 210 195 Concessional 0 1 8 12 14 12 11 11 11 12 Bilateral 2 71 72 80 99 98 91 36 116 114 Concessional 1 5 8 33 39 45 47 28 44 38 Private creditors 2 199 191 301 392 534 523 267 375 373 Bonds 0 6 0 241 250 405 391 140 258 285 Commercial banks 1 184 132 43 114 111 118 116 107 82 Other private 2 8 59 16 28 18 14 12 10 6 Private nonguaranteed 3 78 12 4 4 1 175 172 178 196 Bonds 0 0 0 1 1 0 0 0 0 0 Commercial banks and other 3 78 12 3 3 1 175 172 178 196 Memo: IBRD 2 9 62 75 69 51 58 74 63 54 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 11 383 -305 -109 47 -871 -830 -793 -600 -137 Public and publicly guaranteed 19 408 -299 25 31 -740 -682 -485 -645 -868 Official 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 -76 Private 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 -14 Private 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 46 731 Memo: 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 2,001 Public and publicly guaranteed 22 559 874 1,065 1,717 1,454 1,438 1,099 1,276 1,298 Official 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 84 122 116 Private 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 23 Private 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 53 131 661 689 677 703 Memo: 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 1,208 975 708 881 Official creditors 60 695 1,533 1,535 1,596 1,558 1,078 918 603 815 Private creditors 82 345 113 583 307 328 130 57 105 66 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.1 2.3 Deutsche mark 4.6 1.7 2.8 1.0 0.8 0.7 0.6 0.6 .. .. French franc 1.9 0.0 1.5 2.1 1.7 1.7 1.3 1.2 .. .. Japanese yen 0.0 2.7 6.9 4.4 3.6 4.7 5.8 6.3 5.6 6.0 Pound sterling 0.8 1.1 1.6 0.7 0.7 0.6 0.5 0.4 0.3 0.3 Swiss franc 0.2 0.7 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 71.7 64.2 54.5 73.9 77.9 83.5 84.0 83.2 84.9 85.0 Multiple currency 19.6 28.1 29.7 17.1 14.5 8.0 7.0 7.4 6.7 6.1 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 All other currencies 1.2 1.4 2.4 0.7 0.7 0.8 0.8 0.9 0.3 0.3 187 ECUADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 1 1 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 24.8 Official 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 24.4 Private 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 33.5 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 299 248 153 88 45 28 12 4 2 1 Principal 1,297 1,392 1,133 916 891 674 537 510 470 1,700 Interest 728 898 788 706 723 628 579 549 519 511 Official creditors Disbursements 262 229 146 86 45 28 12 4 2 1 Principal 576 557 593 577 543 462 421 377 377 356 Interest 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 50 Private creditors Disbursements 36 19 8 2 1 0 0 0 0 0 Principal 721 834 541 339 348 212 116 133 93 1,344 Interest 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 384 605 530 476 521 451 424 414 402 411 188 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1,802 19,131 33,016 31,538 30,102 32,440 31,045 29,187 29,331 30,750 Long-term debt (LDOD) 1,351 14,693 28,438 29,174 27,109 28,178 26,751 25,083 25,959 27,282 Public and publicly guaranteed 1,351 14,428 27,438 29,047 26,979 27,794 26,270 24,510 25,341 26,624 Private nonguaranteed 0 265 1,000 127 131 384 481 573 619 659 Use of IMF credit 49 411 125 16 0 0 0 0 0 0 Short-term debt 401 4,027 4,453 2,348 2,993 4,262 4,294 4,104 3,372 3,468 of 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 0 Memo: 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 0 Memo: 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 1,915 498 Long-term debt 170 2,680 1,951 683 896 749 585 586 1,915 498 IMF purchases 18 63 0 0 0 0 0 0 0 0 Principal repayments 234 446 1,751 1,112 959 964 1,207 1,100 1,113 1,241 Long-term debt 225 343 1,704 1,026 943 964 1,207 1,100 1,113 1,241 IMF repurchases 9 103 47 86 15 0 0 0 0 0 Net flows on debt -46 2,465 -1,301 -453 581 1,056 -588 -702 71 -647 of which short-term debt 0 168 -1,502 -24 644 1,271 34 -189 -732 96 Interest payments (INT) 37 789 1,323 1,214 1,027 934 914 733 838 825 Long-term debt 37 349 1,007 1,078 764 707 684 619 688 728 IMF charges 0 18 14 3 0 0 0 0 0 0 Short-term debt 0 422 301 133 262 227 231 113 150 97 Net transfers on debt -82 1,676 -2,624 -1,667 -446 122 -1,503 -1,435 -767 -1,472 Total debt service paid (TDS) 270 1,235 3,073 2,326 1,985 1,898 2,121 1,832 1,951 2,066 Long-term debt 261 692 2,711 2,104 1,707 1,671 1,890 1,719 1,801 1,969 IMF repurchases and charges 9 121 61 89 16 0 0 0 0 0 Short-term debt (interest only) 0 422 301 133 262 227 231 113 150 97 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 100 3,051 5,183 1,516 2,386 2,075 1,864 1,955 2,006 342 Net flow of long-term debt (ex. IMF) -54 2,337 247 -344 -47 -215 -622 -513 803 -743 Foreign direct investment (net) 1 548 734 636 891 1,076 1,065 1,235 510 647 Portfolio equity flows 0 0 0 0 515 -160 658 269 39 -212 Grants (excluding technical coop.) 153 165 4,201 1,224 1,028 1,374 763 964 654 650 Memo: 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 -475 Interest on long-term debt 37 349 1,007 1,078 764 707 684 619 688 728 Profit remittances on FDI 0 15 14 34 113 134 100 92 28 89 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 7,618 21,453 42,025 68,190 76,839 83,300 90,095 100,360 99,547 89,949 Exports of goods, serv. & inc. (XGS) .. 9,212 15,035 19,058 20,724 17,944 19,753 21,587 20,447 20,029 Worker remit. & comp. of employees 0 2,696 4,284 3,107 3,697 3,370 3,235 2,852 2,911 2,893 Imports of goods & services (MGS) .. 9,746 15,969 19,809 22,112 22,184 22,661 23,878 21,881 20,474 International reserves (RES) 165 2,480 3,620 18,296 19,371 18,824 15,190 13,785 13,598 14,076 Current account balance .. -436 2,327 -192 -711 -2,566 -1,635 -971 -388 622 4. DEBT INDICATORS EDT / XGS (%) .. 207.7 219.6 165.5 145.3 180.8 157.2 135.2 143.5 153.5 EDT / GNI (%) 23.6 89.2 78.6 46.3 39.2 38.9 34.5 29.1 29.5 34.2 TDS / XGS (%) .. 13.4 20.4 12.2 9.6 10.6 10.7 8.5 9.5 10.3 INT / XGS (%) .. 8.6 8.8 6.4 5.0 5.2 4.6 3.4 4.1 4.1 INT / GNI (%) 0.5 3.7 3.1 1.8 1.3 1.1 1.0 0.7 0.8 0.9 RES / EDT (%) 9.2 13.0 11.0 58.0 64.3 58.0 48.9 47.2 46.4 45.8 RES / MGS (months) .. 3.1 2.7 11.1 10.5 10.2 8.0 6.9 7.5 8.3 Short-term / EDT (%) 22.3 21.1 13.5 7.4 9.9 13.1 13.8 14.1 11.5 11.3 Concessional / EDT (%) 47.9 42.4 37.9 76.4 75.3 72.6 72.9 72.7 68.5 68.9 Multilateral / EDT (%) 1.2 13.7 10.4 12.7 13.2 13.2 13.2 13.5 12.6 12.6 189 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 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 27,282 Public and publicly guaranteed 1,351 14,428 27,438 29,047 26,979 27,794 26,270 24,510 25,341 26,624 Official 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 18,858 Private 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 5,625 920 556 470 316 227 161 137 Private 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 1,000 127 131 384 381 473 519 559 Memo: 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 1,915 498 Public and publicly guaranteed 170 2,554 1,900 683 819 470 242 379 1,754 323 Official 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 12 Private 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 0 Private 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 77 279 243 207 162 175 Memo: 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 1,241 Public and publicly guaranteed 225 297 1,572 840 870 932 961 984 997 1,106 Official 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 92 119 214 190 250 380 400 497 539 603 Private 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 40 Private 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 32 246 116 116 136 Memo: 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 -743 Public and publicly guaranteed -54 2,257 328 -158 -51 -462 -719 -604 757 -782 Official 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 -591 Private 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 -40 Private 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 40 Memo: IBRD -6 162 -84 -152 -123 -67 -74 -81 -55 -47 IDA 0 41 1 68 142 39 14 26 3 21 190 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 37 349 1,007 1,078 764 707 684 619 688 728 Public and publicly guaranteed 37 327 918 1,066 757 700 675 603 671 712 Official 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 18 146 196 527 387 347 345 338 325 298 Private 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 6 Private 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 4 Memo: 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 -1,471 Public and publicly guaranteed -91 1,931 -589 -1,223 -808 -1,162 -1,395 -1,208 86 -1,494 Official 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 -889 Private 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 -46 Private 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 36 Memo: 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 1,969 Public and publicly guaranteed 261 623 2,490 1,906 1,627 1,632 1,636 1,587 1,668 1,818 Official 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 110 265 411 717 636 728 745 835 864 901 Private 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 46 Private 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 38 254 120 121 139 Memo: 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 1,621 Official creditors 282 4,163 3,335 2,454 1,950 1,676 1,400 1,660 1,537 1,584 Private creditors 33 837 1,237 106 122 87 30 148 82 37 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 29.0 31.6 Deutsche mark 10.0 4.8 12.3 11.0 10.4 10.8 9.8 9.8 .. .. French franc 0.9 5.6 14.0 19.8 18.1 18.2 16.2 15.5 .. .. Japanese yen 0.0 4.0 8.2 12.2 11.6 12.4 14.6 13.7 11.3 11.6 Pound sterling 2.9 1.2 2.5 1.5 1.5 1.4 1.3 1.2 2.0 2.1 Swiss franc 2.4 1.3 3.0 2.3 2.3 2.3 2.0 2.1 1.9 2.1 U.S.dollars 23.0 73.0 41.8 36.2 39.5 37.5 38.4 40.1 43.7 41.0 Multiple currency 1.6 3.3 8.4 6.8 6.4 6.6 6.4 6.3 5.3 4.7 Special drawing rights 0.0 0.0 0.6 0.0 0.1 0.1 0.1 0.3 0.2 0.2 All other currencies 59.0 6.7 9.1 10.2 10.2 10.8 11.1 11.0 6.7 6.7 191 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 10,576 35 27 17 1 25 0 0 Memo: interest forgiven .. .. 2,481 4 2 1 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 33.3 Official 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 33.3 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 336 329 228 172 130 86 53 29 11 3 Principal 1,932 1,816 1,412 1,889 1,428 1,483 1,483 1,501 2,514 1,554 Interest 774 731 678 620 567 530 492 454 374 294 Official creditors Disbursements 305 327 228 172 130 86 53 29 11 3 Principal 1,275 1,451 1,380 1,379 1,421 1,475 1,476 1,494 1,507 1,548 Interest 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 29 Private creditors Disbursements 31 2 0 0 0 0 0 0 0 0 Principal 657 366 32 510 8 7 7 7 1,007 7 Interest 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 3 192 EL SALVADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 182 911 2,149 2,914 3,251 3,373 3,793 4,020 4,676 5,828 Long-term debt (LDOD) 176 659 1,938 2,318 2,441 2,523 2,740 2,883 3,406 4,837 Public and publicly guaranteed 88 499 1,913 2,317 2,396 2,442 2,647 2,772 3,250 4,712 Private nonguaranteed 88 161 26 2 45 82 93 111 156 126 Use of IMF credit 6 32 0 0 0 0 0 0 0 0 Short-term debt 0 220 210 596 810 849 1,053 1,137 1,270 991 of 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 0 Memo: 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 0 Memo: 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 1,565 Long-term debt 31 109 108 474 333 325 388 362 730 1,565 IMF purchases 0 40 0 0 0 0 0 0 0 0 Principal repayments 27 35 124 178 127 287 167 153 168 190 Long-term debt 22 35 119 178 127 287 167 153 168 190 IMF repurchases 5 0 5 0 0 0 0 0 0 0 Net flows on debt 4 56 2 368 422 77 426 294 694 1,097 of which short-term debt 0 -58 18 71 216 39 204 85 132 -279 Interest payments (INT) 9 61 84 138 152 159 175 221 216 264 Long-term debt 9 35 75 105 110 111 122 147 160 221 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 25 9 33 42 48 53 73 55 43 Net transfers on debt -5 -5 -83 229 270 -82 251 73 479 833 Total debt service paid (TDS) 36 96 208 316 279 446 341 374 384 453 Long-term debt 31 71 194 283 237 398 288 300 329 410 IMF repurchases and charges 5 0 5 0 0 0 0 0 0 0 Short-term debt (interest only) 0 25 9 33 42 48 53 73 55 43 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 14 111 151 394 357 1,261 533 455 965 1,691 Net flow of long-term debt (ex. IMF) 9 74 -11 297 206 38 222 209 562 1,376 Foreign direct investment (net) 4 6 2 -5 59 1,104 216 173 250 208 Portfolio equity flows 0 0 0 0 0 0 0 0 2 0 Grants (excluding technical coop.) 1 31 160 102 92 119 95 72 150 107 Memo: 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 1,452 Interest on long-term debt 9 35 75 105 110 111 122 147 160 221 Profit remittances on FDI 0 41 31 0 0 29 111 60 73 18 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,123 3,490 4,727 10,273 10,971 11,845 12,183 12,881 13,538 13,997 Exports of goods, serv. & inc. (XGS) .. 1,282 1,360 3,330 4,188 4,498 4,661 5,554 5,666 5,868 Worker remit. & comp. of employees 0 49 366 1,084 1,200 1,338 1,386 1,764 1,924 1,953 Imports of goods & services (MGS) .. 1,289 1,785 3,669 4,447 4,777 5,108 6,031 6,230 6,319 International reserves (RES) 64 382 595 1,110 1,444 1,748 2,140 2,051 1,871 1,784 Current account balance .. 34 -152 -169 -98 -91 -239 -431 -190 -384 4. DEBT INDICATORS EDT / XGS (%) .. 71.1 158.0 87.5 77.6 75.0 81.4 72.4 82.5 99.3 EDT / GNI (%) 16.2 26.1 45.5 28.4 29.6 28.5 31.1 31.2 34.5 41.6 TDS / XGS (%) .. 7.5 15.3 9.5 6.7 9.9 7.3 6.7 6.8 7.7 INT / XGS (%) .. 4.7 6.2 4.2 3.6 3.5 3.8 4.0 3.8 4.5 INT / GNI (%) 0.8 1.7 1.8 1.3 1.4 1.3 1.4 1.7 1.6 1.9 RES / EDT (%) 35.0 41.9 27.7 38.1 44.4 51.8 56.4 51.0 40.0 30.6 RES / MGS (months) .. 3.6 4.0 3.6 3.9 4.4 5.0 4.1 3.6 3.4 Short-term / EDT (%) 0.0 24.1 9.8 20.5 24.9 25.2 27.8 28.3 27.2 17.0 Concessional / EDT (%) 21.2 23.9 56.3 40.2 36.1 35.1 30.8 27.9 23.1 18.5 Multilateral / EDT (%) 22.3 28.3 36.6 54.0 51.2 52.1 48.1 46.4 42.4 37.7 193 EL SALVADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 176 659 1,938 2,318 2,441 2,523 2,740 2,883 3,406 4,837 Public and publicly guaranteed 88 499 1,913 2,317 2,396 2,442 2,647 2,772 3,250 4,712 Official 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 84 795 522 516 538 537 515 497 513 Private 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 33 Private 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 93 111 156 126 Memo: 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 1,565 Public and publicly guaranteed 8 109 108 474 289 260 348 312 670 1,565 Official 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 11 Private 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 0 Private 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 0 Memo: IBRD 1 10 2 21 35 34 23 34 49 63 IDA 0 3 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 22 35 119 178 127 287 167 153 168 190 Public and publicly guaranteed 6 17 105 175 126 259 138 120 153 160 Official creditors 3 8 94 106 108 188 129 116 144 147 Multilateral 3 5 57 76 85 164 102 85 111 109 Concessional 0 1 11 14 15 20 25 22 24 25 Bilateral 0 3 37 30 24 24 27 31 33 38 Concessional 0 1 8 17 17 16 19 19 22 23 Private creditors 3 10 11 69 18 72 9 4 9 13 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 3 2 9 63 14 68 7 4 9 12 Other private 0 8 2 6 4 4 3 1 1 1 Private nonguaranteed 16 18 14 3 1 28 28 33 15 30 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 16 18 14 3 1 28 28 33 15 30 Memo: IBRD 2 3 15 22 24 28 17 17 24 27 IDA 0 0 1 1 1 1 1 1 1 1 NET FLOWS ON DEBT 9 74 -11 297 206 38 222 209 562 1,376 Public and publicly guaranteed 2 92 3 300 163 1 210 191 517 1,406 Official 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 -12 Private 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 0 Private 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 -30 Memo: IBRD -1 7 -13 -1 12 7 6 17 25 36 IDA 0 3 -1 -1 -1 -1 -1 -1 -1 -1 194 EL SALVADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 9 35 75 105 110 111 122 147 160 221 Public and publicly guaranteed 4 24 72 105 107 106 116 141 154 212 Official creditors 2 21 62 97 101 103 114 123 125 112 Multilateral 2 11 50 74 79 83 93 102 106 94 Concessional 0 2 8 11 11 11 12 11 11 11 Bilateral 0 10 13 23 21 20 21 21 19 19 Concessional 0 2 9 15 14 14 14 15 14 14 Private creditors 1 3 9 8 7 3 2 18 29 100 Bonds 0 0 0 0 0 0 0 17 19 91 Commercial banks 1 1 8 6 5 2 1 1 9 9 Other private 0 2 2 2 1 1 1 1 0 0 Private nonguaranteed 6 11 3 0 3 5 6 7 6 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 6 11 3 0 3 5 6 7 6 8 Memo: IBRD 1 7 14 20 19 20 20 24 24 19 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 0 39 -86 191 96 -73 100 61 401 1,155 Public and publicly guaranteed -2 68 -69 194 56 -105 94 51 363 1,193 Official 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 -25 Private 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 -1 Private 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 -38 Memo: IBRD -2 0 -27 -22 -7 -13 -14 -7 2 17 IDA 0 3 -1 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 31 71 194 283 237 398 288 300 329 410 Public and publicly guaranteed 9 42 177 280 233 365 254 261 307 372 Official creditors 5 29 156 203 209 291 243 239 269 259 Multilateral 5 16 107 150 164 247 194 187 218 203 Concessional 0 3 19 25 26 30 36 33 35 36 Bilateral 1 13 50 54 45 44 48 51 52 56 Concessional 0 3 17 32 31 30 33 34 36 37 Private creditors 4 13 21 77 25 75 12 23 38 113 Bonds 0 0 0 0 0 0 0 17 19 91 Commercial banks 4 3 17 69 19 70 8 5 18 22 Other private 0 10 4 8 6 5 3 1 1 1 Private nonguaranteed 22 29 17 3 4 33 34 39 21 38 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 22 29 17 3 4 33 34 39 21 38 Memo: IBRD 4 10 29 42 42 47 37 41 48 46 IDA 0 0 1 1 1 1 1 1 1 1 UNDISBURSED DEBT 38 424 324 1,219 907 786 813 790 776 804 Official creditors 38 390 322 1,188 887 766 788 776 771 801 Private creditors 0 34 2 31 20 20 25 14 6 3 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.8 2.2 Deutsche mark 0.0 0.2 3.7 4.6 4.1 4.4 3.5 3.1 .. .. French franc 0.0 5.5 3.3 2.0 1.6 1.5 1.2 0.4 .. .. Japanese yen 0.0 3.6 1.3 2.7 3.7 4.9 5.6 5.3 4.3 3.4 Pound sterling 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 65.2 37.8 56.5 55.1 65.7 66.1 68.2 71.1 76.5 83.3 Multiple currency 31.1 32.6 33.7 34.6 23.7 21.8 20.1 18.8 15.5 10.4 Special drawing rights 0.0 0.0 0.0 0.4 0.4 0.5 0.5 0.5 0.4 0.3 All other currencies 3.6 20.1 1.4 0.6 0.7 0.8 0.8 0.8 0.6 0.4 195 EL SALVADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 86 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 42 0 0 0 0 0 0 0 Official .. .. 39 0 0 0 0 0 0 0 Private .. .. 3 0 0 0 0 0 0 0 Interest rescheduled .. .. 43 0 0 0 0 0 0 0 Official .. .. 38 0 0 0 0 0 0 0 Private .. .. 5 0 0 0 0 0 0 0 Debt forgiven .. .. 0 0 0 0 1 17 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 17.2 Official 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 28.6 Private 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 14.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 244 194 147 99 66 32 16 6 0 0 Principal 263 258 264 396 299 240 227 223 859 189 Interest 298 300 293 283 255 241 230 219 208 144 Official creditors Disbursements 241 194 147 99 66 32 16 6 0 0 Principal 218 223 234 218 224 219 207 203 195 188 Interest 136 134 129 121 113 103 93 84 75 66 Bilateral creditors Disbursements 7 4 2 2 0 0 0 0 0 0 Principal 42 38 38 35 29 29 25 25 24 23 Interest 20 18 16 14 12 11 10 9 9 8 Multilateral creditors Disbursements 234 190 145 97 66 32 16 6 0 0 Principal 175 184 195 183 195 190 181 178 171 165 Interest 116 116 113 107 100 92 83 75 66 58 Private creditors Disbursements 2 0 0 0 0 0 0 0 0 0 Principal 45 36 31 178 75 21 20 20 664 1 Interest 163 166 164 161 143 138 137 135 134 78 Commercial banks Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 19 15 14 14 12 9 9 9 0 0 Interest 8 7 6 4 3 2 1 1 0 0 Other private Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 26 21 17 164 63 12 12 11 664 1 Interest 155 159 158 157 139 136 135 134 134 78 196 EQUATORIAL GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5.0 75.6 241.1 282.4 283.2 306.1 271.1 247.8 238.9 260.4 Long-term debt (LDOD) 5.0 52.5 209.2 222.2 208.6 216.5 207.9 198.9 192.1 209.1 Public and publicly guaranteed 5.0 52.5 209.2 222.2 208.6 216.5 207.9 198.9 192.1 209.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 16.1 5.8 17.2 13.2 10.8 8.0 4.9 2.2 1.1 Short-term debt 0.0 7.0 26.0 43.1 61.4 78.8 55.2 44.0 44.6 50.1 of which interest arrears on LDOD 0.0 0.0 19.7 39.6 37.4 39.8 37.2 36.0 35.5 39.5 Official creditors 0.0 0.0 17.3 34.5 32.8 34.9 32.9 32.0 31.6 35.0 Private creditors 0.0 0.0 2.3 5.2 4.6 4.9 4.3 4.0 3.9 4.4 Memo: principal arrears on LDOD 0.3 5.6 28.4 93.7 91.0 97.0 95.0 94.7 96.2 106.9 Official creditors 0.3 5.6 24.4 77.7 76.8 82.0 81.8 82.4 84.2 93.2 Private creditors 0.0 0.0 4.0 16.0 14.3 15.0 13.2 12.3 12.1 13.7 Memo: export credits 0.0 0.0 37.0 60.4 55.4 41.0 37.7 58.0 59.4 77.5 TOTAL DEBT FLOWS Disbursements 0.0 37.6 9.9 2.0 2.6 1.1 3.8 1.7 0.3 2.0 Long-term debt 0.0 19.6 9.9 2.0 2.6 1.1 3.8 1.7 0.3 2.0 IMF purchases 0.0 18.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.0 1.7 4.2 3.3 4.1 3.7 3.5 4.1 3.6 2.5 Long-term debt 0.0 1.7 0.6 2.2 1.1 0.8 1.0 1.4 1.0 1.3 IMF repurchases 0.0 0.0 3.6 1.1 3.0 2.9 2.5 2.7 2.6 1.2 Net flows on debt 0.0 40.9 9.7 0.1 19.0 12.4 -20.7 -12.3 -2.2 1.1 of which short-term debt 0.0 5.0 4.0 1.5 20.6 15.0 -21.0 -10.0 1.1 1.6 Interest payments (INT) 0.0 0.8 0.9 1.3 1.8 2.3 1.5 1.2 1.0 1.1 Long-term debt 0.0 0.1 0.5 1.0 1.0 0.7 0.7 0.8 0.6 0.7 IMF charges 0.0 0.2 0.2 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Short-term debt 0.0 0.6 0.2 0.2 0.7 1.6 0.8 0.4 0.4 0.4 Net transfers on debt 0.0 40.0 8.8 -1.3 17.2 10.1 -22.2 -13.5 -3.2 -0.1 Total debt service paid (TDS) 0.0 2.6 5.1 4.7 5.9 6.0 5.0 5.3 4.6 3.6 Long-term debt 0.0 1.8 1.1 3.3 2.1 1.5 1.7 2.2 1.6 2.0 IMF repurchases and charges 0.0 0.2 3.8 1.2 3.1 2.9 2.5 2.7 2.6 1.2 Short-term debt (interest only) 0.0 0.6 0.2 0.2 0.7 1.6 0.8 0.4 0.4 0.4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 0.0 19.2 63.9 394.3 68.0 304.7 266.0 126.1 959.7 336.5 Net 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 0.7 Foreign direct investment (net) 0.0 0.0 11.1 376.2 53.5 291.5 251.9 107.9 945.0 323.4 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 0.0 1.4 43.5 18.4 13.1 12.9 11.3 17.9 15.4 12.5 Memo: 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 -114.2 Interest on long-term debt 0.0 0.1 0.5 1.0 1.0 0.7 0.7 0.8 0.6 0.7 Profit remittances on FDI 0.0 0.0 1.0 72.0 59.0 47.0 80.0 350.0 370.0 450.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 0.0 Imports 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 88.5 Current 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 34.0 RES / 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 19.2 Concessional / EDT (%) .. 41.7 49.0 51.4 49.0 47.1 52.5 55.3 55.3 55.0 Multilateral / EDT (%) .. 3.6 27.9 35.0 33.1 32.0 36.2 37.8 37.3 37.5 197 EQUATORIAL GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5.0 52.5 209.2 222.2 208.6 216.5 207.9 198.9 192.1 209.1 Public and publicly guaranteed 5.0 52.5 209.2 222.2 208.6 216.5 207.9 198.9 192.1 209.1 Official creditors 5.0 45.3 191.5 206.2 194.3 201.5 194.7 186.5 180.0 195.5 Multilateral 0.0 2.7 67.4 98.8 93.7 98.0 98.2 93.6 89.1 97.6 Concessional 0.0 2.0 51.6 87.0 83.7 87.6 89.4 85.8 81.8 89.7 Bilateral 5.0 42.6 124.1 107.4 100.5 103.6 96.5 92.9 90.9 97.9 Concessional 0.0 29.5 66.4 58.1 55.1 56.4 53.0 51.2 50.3 53.4 Private creditors 0.0 7.2 17.8 16.0 14.3 15.0 13.2 12.3 12.1 13.7 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 7.2 17.8 16.0 14.3 15.0 13.2 12.3 12.1 13.7 Private 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 0.0 Memo: 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 37.6 52.1 49.9 51.7 50.3 47.3 45.0 47.9 DISBURSEMENTS 0.0 19.6 9.9 2.0 2.6 1.1 3.8 1.7 0.3 2.0 Public and publicly guaranteed 0.0 19.6 9.9 2.0 2.6 1.1 3.8 1.7 0.3 2.0 Official creditors 0.0 14.8 9.9 2.0 2.6 1.1 3.8 1.7 0.3 2.0 Multilateral 0.0 1.7 3.7 2.0 2.6 1.1 3.8 1.7 0.3 2.0 Concessional 0.0 1.0 3.1 2.0 2.6 1.1 3.8 1.7 0.3 2.0 Bilateral 0.0 13.1 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Concessional 0.0 3.3 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 4.8 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 4.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 1.0 1.3 0.3 0.1 0.0 0.0 0.0 PRINCIPAL REPAYMENTS 0.0 1.7 0.6 2.2 1.1 0.8 1.0 1.4 1.0 1.3 Public and publicly guaranteed 0.0 1.7 0.6 2.2 1.1 0.8 1.0 1.4 1.0 1.3 Official creditors 0.0 1.4 0.6 2.2 1.1 0.8 1.0 1.4 1.0 1.3 Multilateral 0.0 0.0 0.5 2.2 1.1 0.8 1.0 1.0 1.0 1.3 Concessional 0.0 0.0 0.5 0.7 0.7 0.5 0.6 0.6 0.6 1.0 Bilateral 0.0 1.4 0.1 0.0 0.0 0.0 0.0 0.4 0.0 0.0 Concessional 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 Private creditors 0.0 0.3 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 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 0.0 0.2 0.4 0.4 0.4 0.4 0.5 0.5 NET FLOWS ON DEBT 0.0 17.8 9.4 -0.3 1.4 0.3 2.8 0.3 -0.7 0.7 Public and publicly guaranteed 0.0 17.8 9.4 -0.3 1.4 0.3 2.8 0.3 -0.7 0.7 Official 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 0.0 Private 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 0.0 Private 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 0.0 Memo: 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 -0.5 198 EQUATORIAL GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.0 0.1 0.5 1.0 1.0 0.7 0.7 0.8 0.6 0.7 Public and publicly guaranteed 0.0 0.1 0.5 1.0 1.0 0.7 0.7 0.8 0.6 0.7 Official creditors 0.0 0.1 0.5 1.0 1.0 0.7 0.7 0.8 0.6 0.7 Multilateral 0.0 0.0 0.3 1.0 1.0 0.7 0.7 0.8 0.6 0.7 Concessional 0.0 0.0 0.3 0.8 0.7 0.5 0.6 0.6 0.5 0.6 Bilateral 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Concessional 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 0.2 0.3 0.5 0.3 0.3 0.4 0.4 0.4 NET TRANSFERS ON DEBT 0.0 17.8 8.9 -1.3 0.4 -0.4 2.1 -0.5 -1.3 0.0 Public and publicly guaranteed 0.0 17.8 8.9 -1.3 0.4 -0.4 2.1 -0.5 -1.3 0.0 Official 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 0.0 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.0 1.8 1.1 3.3 2.1 1.5 1.7 2.2 1.6 2.0 Public and publicly guaranteed 0.0 1.8 1.1 3.3 2.1 1.5 1.7 2.2 1.6 2.0 Official creditors 0.0 1.5 1.1 3.3 2.1 1.5 1.7 2.2 1.6 2.0 Multilateral 0.0 0.0 0.8 3.3 2.1 1.5 1.7 1.8 1.6 2.0 Concessional 0.0 0.0 0.8 1.4 1.4 1.0 1.2 1.3 1.1 1.6 Bilateral 0.0 1.5 0.3 0.0 0.0 0.0 0.0 0.4 0.0 0.0 Concessional 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.4 0.0 0.0 Private 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 0.0 Private 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 0.0 Memo: 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 0.2 0.6 0.9 0.7 0.7 0.8 0.8 0.9 UNDISBURSED DEBT 0.0 70.6 64.9 36.6 28.3 30.8 14.4 10.9 10.2 8.9 Official creditors 0.0 67.6 64.9 36.6 28.3 30.8 14.4 10.9 10.2 8.9 Private creditors 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD 0.0 31.5 118.1 145.1 138.7 144.1 142.4 137.0 132.1 143.2 Variable rate LDOD 0.0 0.0 5.1 4.2 4.1 4.1 4.1 4.0 3.9 4.0 Public sector LDOD 5.0 46.9 209.2 222.2 208.6 216.5 207.9 198.9 192.1 209.1 Private sector LDOD 0.0 5.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 26.5 28.7 Deutsche mark 0.0 0.0 5.9 5.4 5.0 5.1 4.6 4.4 .. .. French franc 0.0 0.0 7.0 7.6 7.1 7.3 6.5 6.3 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 0.0 16.5 37.8 41.6 43.3 42.5 43.6 43.9 44.2 42.0 Multiple currency 0.0 0.0 5.6 15.0 15.3 15.5 17.5 17.9 17.6 18.1 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 100.0 83.5 43.6 30.4 29.3 29.5 27.8 27.5 11.6 11.1 199 EQUATORIAL GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 18.5 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 6.5 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 14.2 38.2 0.0 0.0 49.7 0.0 0.0 0.0 0.0 Grace period (years) 0.0 3.4 10.1 0.0 0.0 10.2 0.0 0.0 0.0 0.0 Grant element (%) 0.0 21.0 77.5 0.0 0.0 90.0 0.0 0.0 0.0 0.0 Official creditors Interest (%) 0.0 6.5 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 14.2 38.2 0.0 0.0 49.7 0.0 0.0 0.0 0.0 Grace period (years) 0.0 3.4 10.1 0.0 0.0 10.2 0.0 0.0 0.0 0.0 Grant element (%) 0.0 21.0 77.5 0.0 0.0 90.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 0.0 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 0.0 0.0 Grant element (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 0 27 18 0 0 3 0 0 0 0 Official creditors 0 27 18 0 0 3 0 0 0 0 Private creditors 0 0 0 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 2.0 4.0 2.1 1.4 1.0 0.4 0.1 0.0 0.0 0.0 Principal 1.3 4.0 3.8 3.2 3.3 3.6 3.8 3.8 3.7 3.4 Interest 0.7 0.9 0.9 0.8 0.8 0.7 0.7 0.7 0.6 0.6 Official creditors Disbursements 2.0 4.0 2.1 1.4 1.0 0.4 0.1 0.0 0.0 0.0 Principal 1.3 4.0 3.8 3.2 3.3 3.6 3.8 3.8 3.7 3.4 Interest 0.7 0.9 0.9 0.8 0.8 0.7 0.7 0.7 0.6 0.6 Bilateral creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 1.7 1.5 0.7 0.7 0.7 0.6 0.6 0.6 0.5 Interest 0.0 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Multilateral creditors Disbursements 2.0 4.0 2.1 1.4 1.0 0.4 0.1 0.0 0.0 0.0 Principal 1.3 2.2 2.4 2.5 2.6 2.9 3.1 3.2 3.2 2.9 Interest 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.6 0.6 0.5 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 200 ERITREA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 44.3 75.5 151.3 252.7 311.1 413.9 527.6 Long-term debt (LDOD) .. .. .. 44.3 75.5 146.1 252.6 298.0 394.8 496.4 Public and publicly guaranteed .. .. .. 44.3 75.5 146.1 252.6 298.0 394.8 496.4 Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. .. 0.0 0.0 5.2 0.2 13.1 19.1 31.1 of 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 0.0 Memo: 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 0.0 Memo: 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 83.9 Long-term debt .. .. .. 6.9 33.3 67.3 108.2 50.7 103.9 83.9 IMF purchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. .. 0.0 0.0 0.0 0.0 0.5 0.7 2.6 Long-term debt .. .. .. 0.0 0.0 0.0 0.0 0.5 0.7 2.6 IMF repurchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. .. 6.9 33.3 67.3 103.2 61.2 110.3 93.3 of which short-term debt .. .. .. 0.0 0.0 0.0 -5.0 11.0 7.0 12.0 Interest payments (INT) .. .. .. 0.0 0.5 3.7 3.3 2.8 6.1 6.6 Long-term debt .. .. .. 0.0 0.5 3.6 3.3 2.5 5.4 6.1 IMF charges .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. .. 0.0 0.0 0.1 0.0 0.3 0.7 0.4 Net transfers on debt .. .. .. 6.9 32.8 63.6 99.9 58.4 104.2 86.7 Total debt service paid (TDS) .. .. .. 0.0 0.5 3.7 3.3 3.3 6.8 9.2 Long-term debt .. .. .. 0.0 0.5 3.6 3.3 3.0 6.1 8.7 IMF repurchases and charges .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. .. .. 0.0 0.0 0.1 0.0 0.3 0.7 0.4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 135.9 134.5 289.7 255.7 182.5 251.3 208.4 Net flow of long-term debt (ex. IMF) .. .. .. 6.9 33.3 67.3 108.2 50.2 103.3 81.3 Foreign direct investment (net) .. .. .. 36.7 41.1 148.5 83.2 27.9 0.7 21.0 Portfolio equity flows .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. .. 92.3 60.1 73.9 64.3 104.3 147.3 106.1 Memo: 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 .. .. .. 135.9 134.0 285.7 251.6 175.6 239.9 196.1 Interest on long-term debt .. .. .. 0.0 0.5 3.6 3.3 2.5 5.4 6.1 Profit remittances on FDI .. .. .. 0.0 0.0 0.4 0.8 4.4 6.0 6.2 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 830.0 909.5 870.1 855.1 740.7 797.9 749.8 Exports of goods, serv. & inc. (XGS) .. .. .. .. .. 121.4 76.7 106.9 157.0 195.3 Worker remit. & comp. of employees .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. .. .. .. .. 702.6 616.9 510.3 583.5 564.6 International reserves (RES) .. .. .. 81.3 229.6 68.2 58.9 36.1 50.4 30.3 Current account balance .. .. .. -59.8 5.1 -292.7 -208.8 -104.7 -155.8 -117.7 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. .. 124.6 329.5 291.1 263.6 270.2 EDT / GNI (%) .. .. .. 5.3 8.3 17.4 29.6 42.0 51.9 70.4 TDS / XGS (%) .. .. .. .. .. 3.0 4.3 3.1 4.3 4.7 INT / XGS (%) .. .. .. .. .. 3.0 4.3 2.6 3.9 3.4 INT / GNI (%) .. .. .. .. 0.1 0.4 0.4 0.4 0.8 0.9 RES / EDT (%) .. .. .. 183.6 304.3 45.0 23.3 11.6 12.2 5.7 RES / MGS (months) .. .. .. .. .. 1.2 1.1 0.8 1.0 0.6 Short-term / EDT (%) .. .. .. 0.0 0.0 3.4 0.1 4.2 4.6 5.9 Concessional / EDT (%) .. .. .. 95.6 96.1 92.2 93.4 90.5 91.6 91.0 Multilateral / EDT (%) .. .. .. 66.6 55.5 50.3 46.6 48.8 56.9 60.6 201 ERITREA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 44.3 75.5 146.1 252.6 298.0 394.8 496.4 Public and publicly guaranteed .. .. .. 44.3 75.5 146.1 252.6 298.0 394.8 496.4 Official creditors .. .. .. 44.3 75.5 146.1 252.6 298.0 394.8 496.4 Multilateral .. .. .. 29.5 41.8 76.1 117.8 151.9 235.5 319.8 Concessional .. .. .. 27.6 38.9 71.5 110.9 144.9 229.4 313.1 Bilateral .. .. .. 14.8 33.6 70.0 134.8 146.1 159.4 176.6 Concessional .. .. .. 14.8 33.6 68.0 125.1 136.5 149.7 166.9 Private 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 0.0 Private 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 0.0 Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 26.5 28.8 36.9 55.8 84.5 158.3 218.6 DISBURSEMENTS .. .. .. 6.9 33.3 67.3 108.2 50.7 103.9 83.9 Public and publicly guaranteed .. .. .. 6.9 33.3 67.3 108.2 50.7 103.9 83.9 Official creditors .. .. .. 6.9 33.3 67.3 108.2 50.7 103.9 83.9 Multilateral .. .. .. 4.5 14.2 31.3 43.1 39.2 90.3 67.2 Concessional .. .. .. 2.5 12.9 29.9 40.0 38.1 90.3 67.2 Bilateral .. .. .. 2.4 19.1 36.0 65.1 11.5 13.7 16.7 Concessional .. .. .. 2.4 19.1 34.0 57.5 11.5 13.7 16.7 Private 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 0.0 Private 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 0.0 Memo: 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 PRINCIPAL REPAYMENTS .. .. .. 0.0 0.0 0.0 0.0 0.5 0.7 2.6 Public and publicly guaranteed .. .. .. 0.0 0.0 0.0 0.0 0.5 0.7 2.6 Official creditors .. .. .. 0.0 0.0 0.0 0.0 0.5 0.7 2.6 Multilateral .. .. .. 0.0 0.0 0.0 0.0 0.5 0.7 1.5 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.2 1.0 Bilateral .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 1.1 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 1.1 Private 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 0.0 Private 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 0.0 Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET FLOWS ON DEBT .. .. .. 6.9 33.3 67.3 108.2 50.2 103.3 81.3 Public and publicly guaranteed .. .. .. 6.9 33.3 67.3 108.2 50.2 103.3 81.3 Official 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 15.6 Private 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 0.0 Private 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 0.0 Memo: 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 46.2 202 ERITREA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 0.0 0.5 3.6 3.3 2.5 5.4 6.1 Public and publicly guaranteed .. .. .. 0.0 0.5 3.6 3.3 2.5 5.4 6.1 Official creditors .. .. .. 0.0 0.5 3.6 3.3 2.5 5.4 6.1 Multilateral .. .. .. 0.0 0.3 0.6 1.6 1.3 2.8 3.6 Concessional .. .. .. 0.0 0.2 0.5 1.5 1.2 2.7 3.4 Bilateral .. .. .. 0.0 0.2 3.0 1.7 1.2 2.5 2.6 Concessional .. .. .. 0.0 0.2 3.0 1.5 1.2 2.5 2.6 Private 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 0.0 Private 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 0.0 Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 0.0 0.2 0.2 0.3 0.4 0.8 1.3 NET TRANSFERS ON DEBT .. .. .. 6.9 32.8 63.7 105.0 47.8 97.9 75.1 Public and publicly guaranteed .. .. .. 6.9 32.8 63.7 105.0 47.8 97.9 75.1 Official 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 13.0 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) .. .. .. 0.0 0.5 3.6 3.3 3.0 6.1 8.7 Public and publicly guaranteed .. .. .. 0.0 0.5 3.6 3.3 3.0 6.1 8.7 Official creditors .. .. .. 0.0 0.5 3.6 3.3 3.0 6.1 8.7 Multilateral .. .. .. 0.0 0.3 0.6 1.6 1.8 3.5 5.1 Concessional .. .. .. 0.0 0.2 0.5 1.5 1.2 2.9 4.4 Bilateral .. .. .. 0.0 0.2 3.0 1.7 1.2 2.5 3.7 Concessional .. .. .. 0.0 0.2 3.0 1.5 1.2 2.5 3.7 Private 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 0.0 Private 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 0.0 Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 0.0 0.2 0.2 0.3 0.4 0.8 1.3 UNDISBURSED DEBT .. .. .. 154.0 277.6 313.5 201.2 314.6 283.6 280.3 Official creditors .. .. .. 154.0 277.6 313.5 201.2 314.6 283.6 280.3 Private creditors .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. .. .. 42.3 72.5 139.5 236.0 281.4 379.1 480.1 Variable rate LDOD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD .. .. .. 44.3 75.5 146.1 252.6 298.0 394.8 496.4 Private sector LDOD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.5 1.4 Deutsche mark .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 59.9 48.9 45.7 52.2 57.0 65.4 65.7 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 1.6 1.6 1.4 0.8 0.9 1.6 2.0 All other currencies .. .. .. 38.5 49.5 52.9 47.0 42.1 31.5 30.9 203 ERITREA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 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 Principal rescheduled .. .. .. 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 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 0.0 0.0 Official .. .. .. 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 Debt forgiven .. .. .. 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 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 1.0 1.2 1.3 0.0 0.7 1.2 1.0 Maturity (years) .. .. .. 38.7 37.3 32.0 0.0 39.7 34.6 36.6 Grace period (years) .. .. .. 9.5 10.9 7.4 0.0 10.4 9.2 9.1 Grant element (%) .. .. .. 76.3 75.0 68.1 0.0 80.8 69.8 75.7 Official creditors Interest (%) .. .. .. 1.0 1.2 1.3 0.0 0.7 1.2 1.0 Maturity (years) .. .. .. 38.7 37.3 32.0 0.0 39.7 34.6 36.6 Grace period (years) .. .. .. 9.5 10.9 7.4 0.0 10.4 9.2 9.1 Grant element (%) .. .. .. 76.3 75.0 68.1 0.0 80.8 69.8 75.7 Private creditors Interest (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 31 160 97 0 174 83 77 Official creditors .. .. .. 31 160 97 0 174 83 77 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 83.9 72.2 54.1 38.8 25.2 14.3 5.7 3.4 2.3 0.2 Principal 2.6 16.7 17.4 16.7 17.3 18.7 19.8 20.1 21.9 27.2 Interest 6.1 6.5 6.7 6.8 6.7 6.5 6.2 6.0 5.7 5.3 Official creditors Disbursements 83.9 72.2 54.1 38.8 25.2 14.3 5.7 3.4 2.3 0.2 Principal 2.6 16.7 17.4 16.7 17.3 18.7 19.8 20.1 21.9 27.2 Interest 6.1 6.5 6.7 6.8 6.7 6.5 6.2 6.0 5.7 5.3 Bilateral creditors Disbursements 16.7 19.5 19.2 11.8 7.3 3.8 2.0 1.1 0.6 0.0 Principal 1.1 10.6 11.0 9.9 10.2 11.1 10.6 10.6 12.0 12.2 Interest 2.6 2.9 2.9 2.9 2.8 2.7 2.5 2.4 2.2 2.0 Multilateral creditors Disbursements 67.2 52.7 35.0 27.0 17.9 10.5 3.7 2.3 1.7 0.2 Principal 1.5 6.1 6.4 6.8 7.1 7.6 9.2 9.5 9.9 15.0 Interest 3.6 3.7 3.8 3.9 3.9 3.8 3.7 3.6 3.4 3.2 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 204 ESTONIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,534 2,264 2,583 2,491 2,569 2,852 4,741 Long-term debt (LDOD) .. .. .. 337 1,238 1,587 1,612 1,606 1,810 3,151 Public and publicly guaranteed .. .. .. 217 198 234 206 210 187 482 Private nonguaranteed .. .. .. 120 1,040 1,352 1,407 1,395 1,623 2,669 Use of IMF credit .. .. .. 78 54 30 25 19 13 0 Short-term debt .. .. .. 1,119 973 966 853 944 1,029 1,590 of 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 0 Memo: 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 0 Memo: export credits .. .. .. 83 86 58 52 34 31 31 TOTAL DEBT FLOWS Disbursements .. .. .. 217 955 439 474 324 284 1,811 Long-term debt .. .. .. 217 955 439 474 324 284 1,811 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 24 58 188 392 305 247 586 Long-term debt .. .. .. 13 38 163 388 300 242 572 IMF repurchases .. .. .. 11 19 25 4 5 5 14 Net flows on debt .. .. .. 1,282 750 244 -31 110 122 1,785 of which short-term debt .. .. .. 1,089 -147 -6 -113 91 85 561 Interest payments (INT) .. .. .. 72 125 140 135 123 136 197 Long-term debt .. .. .. 17 72 89 88 77 93 157 IMF charges .. .. .. 4 3 2 1 1 1 0 Short-term debt .. .. .. 50 50 48 45 45 42 40 Net transfers on debt .. .. .. 1,210 625 105 -166 -13 -14 1,588 Total debt service paid (TDS) .. .. .. 96 183 328 526 428 383 783 Long-term debt .. .. .. 30 110 252 476 377 335 729 IMF repurchases and charges .. .. .. 15 23 28 5 6 6 14 Short-term debt (interest only) .. .. .. 50 50 48 45 45 42 40 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 562 1,358 946 675 433 662 1,572 Net flow of long-term debt (ex. IMF) .. .. .. 203 916 276 86 24 42 1,238 Foreign direct investment (net) .. .. .. 150 266 581 305 387 543 285 Portfolio equity flows .. .. .. 172 128 26 235 -29 32 0 Grants (excluding technical coop.) .. .. .. 36 47 64 49 50 45 49 Memo: 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 1,028 Interest on long-term debt .. .. .. 17 72 89 88 77 93 157 Profit remittances on FDI .. .. .. 38 127 80 119 205 311 387 Memo: official net transfers .. .. .. 79 45 64 53 21 26 -21 private net transfers .. .. .. 427 1,113 714 415 130 231 1,049 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 4,359 4,469 5,146 5,092 4,941 5,319 6,177 Exports of goods, serv. & inc. (XGS) .. .. .. 3,033 3,723 4,303 4,077 4,928 5,184 5,708 Worker remit. & comp. of employees .. .. .. 2 2 3 2 3 9 17 Imports of goods & services (MGS) .. .. .. 3,532 4,401 4,930 4,484 5,338 5,671 6,649 International reserves (RES) .. .. .. 640 760 813 856 923 822 1,003 Current account balance .. .. .. -398 -562 -478 -295 -294 -339 -802 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 50.6 60.8 60.0 61.1 52.1 55.0 83.0 EDT / GNI (%) .. .. .. 35.2 50.7 50.2 48.9 52.0 53.6 76.7 TDS / XGS (%) .. .. .. 3.2 4.9 7.6 12.9 8.7 7.4 13.7 INT / XGS (%) .. .. .. 2.4 3.4 3.2 3.3 2.5 2.6 3.4 INT / GNI (%) .. .. .. 1.6 2.8 2.7 2.6 2.5 2.6 3.2 RES / EDT (%) .. .. .. 41.7 33.6 31.5 34.4 35.9 28.8 21.2 RES / MGS (months) .. .. .. 2.2 2.1 2.0 2.3 2.1 1.7 1.8 Short-term / EDT (%) .. .. .. 73.0 43.0 37.4 34.2 36.8 36.1 33.5 Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. .. .. 8.3 5.4 5.3 5.4 4.1 3.2 1.4 205 ESTONIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 337 1,238 1,587 1,612 1,606 1,810 3,151 Public and publicly guaranteed .. .. .. 217 198 234 206 210 187 482 Official 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 0 Private 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 0 Private 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 2,424 Memo: IBRD .. .. .. 62 71 84 88 71 65 39 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 217 955 439 474 324 284 1,811 Public and publicly guaranteed .. .. .. 100 18 45 47 45 13 316 Official 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 0 Private 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 0 Private 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 1,495 Memo: IBRD .. .. .. 16 11 13 19 4 6 5 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 13 38 163 388 300 242 572 Public and publicly guaranteed .. .. .. 11 22 16 49 27 28 81 Official creditors .. .. .. 7 9 15 14 25 19 71 Multilateral .. .. .. 5 9 13 12 22 16 47 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2 0 2 2 3 3 25 Concessional .. .. .. 0 0 2 2 2 2 24 Private creditors .. .. .. 4 13 2 35 1 9 9 Bonds .. .. .. 0 0 0 33 0 0 0 Commercial banks .. .. .. 2 0 0 0 0 8 8 Other private .. .. .. 2 13 2 2 1 1 1 Private nonguaranteed .. .. .. 2 16 147 339 273 214 492 Bonds .. .. .. 0 0 0 0 28 0 65 Commercial banks and other .. .. .. 2 16 147 339 245 214 427 Memo: IBRD .. .. .. 0 0 3 3 14 9 40 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 203 916 276 86 24 42 1,238 Public and publicly guaranteed .. .. .. 89 -4 28 -2 18 -15 235 Official 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 -24 Private 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 -1 Private 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 1,068 Memo: IBRD .. .. .. 16 11 10 16 -9 -3 -35 IDA .. .. .. 0 0 0 0 0 0 0 206 ESTONIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 17 72 89 88 77 93 157 Public and publicly guaranteed .. .. .. 10 12 12 12 11 11 16 Official creditors .. .. .. 9 9 9 10 8 7 7 Multilateral .. .. .. 8 8 8 8 7 6 6 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 1 1 1 2 1 1 1 Concessional .. .. .. 1 1 1 1 1 1 1 Private creditors .. .. .. 1 3 2 2 3 4 10 Bonds .. .. .. 0 2 2 2 2 2 8 Commercial banks .. .. .. 0 0 0 0 0 2 2 Other private .. .. .. 1 1 0 0 0 0 0 Private nonguaranteed .. .. .. 8 60 77 76 66 82 140 Bonds .. .. .. 0 0 6 5 9 17 15 Commercial banks and other .. .. .. 8 60 71 71 57 65 125 Memo: IBRD .. .. .. 4 4 5 5 5 4 4 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 186 845 187 -2 -53 -51 1,082 Public and publicly guaranteed .. .. .. 79 -16 16 -14 7 -26 219 Official 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 -25 Private 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 -1 Private 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 -71 943 Memo: IBRD .. .. .. 13 7 6 11 -14 -7 -39 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 30 110 252 476 377 335 729 Public and publicly guaranteed .. .. .. 21 34 28 61 38 39 97 Official creditors .. .. .. 15 18 24 24 33 26 78 Multilateral .. .. .. 13 17 21 20 29 22 52 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2 1 3 4 4 4 26 Concessional .. .. .. 1 1 3 3 3 3 25 Private creditors .. .. .. 6 16 4 37 4 13 19 Bonds .. .. .. 0 2 2 35 2 2 8 Commercial banks .. .. .. 2 0 0 0 0 10 10 Other private .. .. .. 3 14 2 3 2 1 1 Private nonguaranteed .. .. .. 9 76 224 414 339 296 632 Bonds .. .. .. 0 0 6 5 37 17 80 Commercial banks and other .. .. .. 9 76 218 410 302 279 552 Memo: IBRD .. .. .. 4 4 7 8 19 13 44 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 113 75 53 56 79 102 85 Official creditors .. .. .. 105 71 52 28 49 40 38 Private creditors .. .. .. 8 5 1 27 30 62 47 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 80.8 96.7 Deutsche mark .. .. .. 30.4 64.2 67.5 55.9 60.1 .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 21.2 18.9 16.1 17.7 16.8 19.2 3.3 Multiple currency .. .. .. 28.7 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 19.6 16.9 16.5 26.4 23.1 0.0 0.0 207 ESTONIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 0 0 0 0 Debt stock rescheduled .. .. .. 0 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 .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.3 3.1 6.4 6.8 5.3 4.8 5.7 Maturity (years) .. .. .. 8.7 5.1 5.2 11.1 10.7 15.3 6.3 Grace period (years) .. .. .. 2.7 0.6 5.0 5.2 2.9 4.8 6.3 Grant element (%) .. .. .. 15.3 15.6 13.5 16.7 17.2 30.3 19.3 Official creditors Interest (%) .. .. .. 6.5 0.0 8.5 7.0 6.5 0.0 0.0 Maturity (years) .. .. .. 12.4 0.0 14.9 11.0 16.4 0.0 0.0 Grace period (years) .. .. .. 2.7 0.0 5.4 1.0 5.7 0.0 0.0 Grant element (%) .. .. .. 19.2 0.0 8.1 11.6 21.2 0.0 0.0 Private creditors Interest (%) .. .. .. 5.9 3.1 6.4 6.7 4.3 4.8 5.7 Maturity (years) .. .. .. 3.6 5.1 5.1 11.1 6.0 15.3 6.3 Grace period (years) .. .. .. 2.8 0.6 5.0 6.6 0.6 4.8 6.3 Grant element (%) .. .. .. 10.1 15.6 13.6 18.4 13.9 30.3 19.3 Memorandum items Commitments .. .. .. 117 0 17 64 81 40 283 Official creditors .. .. .. 68 0 0 16 36 0 0 Private creditors .. .. .. 49 0 17 48 45 40 283 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 36 24 12 8 3 1 1 0 0 0 Principal 1,077 835 782 32 156 22 237 18 18 19 Interest 126 103 77 25 25 19 18 5 4 4 Official creditors Disbursements 10 11 8 4 3 1 1 0 0 0 Principal 9 9 10 11 12 12 11 8 6 6 Interest 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 1 Private creditors Disbursements 26 13 4 3 0 0 0 0 0 0 Principal 1,068 826 772 20 144 10 226 10 12 14 Interest 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 2 208 ETHIOPIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 169 824 8,630 10,078 10,077 10,347 5,544 5,483 5,697 6,522 Long-term debt (LDOD) 169 688 8,479 9,484 9,425 9,614 5,362 5,327 5,531 6,313 Public and publicly guaranteed 169 688 8,479 9,484 9,425 9,614 5,362 5,327 5,531 6,313 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 79 6 92 87 107 95 77 106 143 Short-term debt 0 57 145 502 566 626 87 79 60 66 of 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 5 Memo: 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 35 Memo: export credits 0 0 311 300 248 210 217 197 175 211 TOTAL DEBT FLOWS Disbursements 28 119 374 315 179 162 231 185 576 642 Long-term debt 28 110 374 294 179 142 231 185 532 597 IMF purchases 0 9 0 21 0 20 0 0 44 44 Principal repayments 15 17 177 292 52 68 98 84 120 65 Long-term debt 15 17 152 292 52 64 88 71 108 54 IMF repurchases 0 0 25 0 0 4 10 13 12 11 Net flows on debt 13 94 203 21 130 93 134 90 454 583 of which short-term debt 0 -8 7 -2 3 -1 2 -11 -2 6 Interest payments (INT) 6 27 59 55 47 50 57 53 63 43 Long-term debt 6 17 48 54 46 48 55 52 61 42 IMF charges 0 2 2 0 0 1 0 0 0 1 Short-term debt 0 9 8 1 1 1 2 1 1 1 Net transfers on debt 6 67 145 -34 82 43 77 37 392 540 Total debt service paid (TDS) 21 45 236 347 99 119 155 137 182 108 Long-term debt 21 34 201 346 98 113 144 123 169 96 IMF repurchases and charges 0 2 27 0 0 4 10 13 12 12 Short-term debt (interest only) 0 9 8 1 1 1 2 1 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 23 218 838 416 773 768 569 674 856 1,080 Net flow of long-term debt (ex. IMF) 13 93 222 1 127 77 142 114 424 544 Foreign direct investment (net) 4 1 12 22 289 261 70 135 20 75 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 6 124 604 393 357 430 357 425 413 461 Memo: 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 1,026 Interest on long-term debt 6 17 48 54 46 48 55 52 61 42 Profit remittances on FDI 0 0 0 2 7 7 2 9 12 12 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 8,546 6,461 6,910 6,998 7,022 6,468 6,459 6,008 Exports of goods, serv. & inc. (XGS) .. 573 606 846 1,012 1,000 991 1,062 1,013 1,113 Worker remit. & comp. of employees 0 12 5 16 9 27 34 53 18 33 Imports of goods & services (MGS) .. 871 1,349 1,428 1,461 1,880 1,904 1,674 2,200 2,075 International reserves (RES) 72 262 55 843 588 598 547 363 490 966 Current 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 1,034.5 559.2 516.5 562.3 586.1 EDT / GNI (%) .. .. 101.0 156.0 145.8 147.9 78.9 84.8 88.2 108.6 TDS / XGS (%) .. 7.8 39.0 41.1 9.8 11.8 15.7 12.9 18.0 9.7 INT / XGS (%) .. 4.8 9.7 6.5 4.7 5.0 5.8 5.0 6.2 3.9 INT / GNI (%) .. .. 0.7 0.9 0.7 0.7 0.8 0.8 1.0 0.7 RES / EDT (%) 42.4 31.8 0.6 8.4 5.8 5.8 9.9 6.6 8.6 14.8 RES / MGS (months) .. 3.6 0.5 7.1 4.8 3.8 3.4 2.6 2.7 5.6 Short-term / EDT (%) 0.2 6.9 1.7 5.0 5.6 6.1 1.6 1.4 1.0 1.0 Concessional / EDT (%) 54.7 68.3 87.3 86.3 85.7 85.1 86.5 87.7 88.8 89.2 Multilateral / EDT (%) 41.4 41.2 14.7 24.7 24.4 25.4 49.4 50.0 54.4 59.3 209 ETHIOPIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 169 688 8,479 9,484 9,425 9,614 5,362 5,327 5,531 6,313 Public and publicly guaranteed 169 688 8,479 9,484 9,425 9,614 5,362 5,327 5,531 6,313 Official 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 2,140 Private 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 95 Private 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 0 Memo: 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 DISBURSEMENTS 28 110 374 294 179 142 231 185 532 597 Public and publicly guaranteed 28 110 374 294 179 142 231 185 532 597 Official creditors 25 77 324 272 149 132 229 184 532 597 Multilateral 8 36 139 272 145 127 224 181 519 583 Concessional 3 34 128 223 92 110 200 176 509 560 Bilateral 17 41 185 0 4 5 6 3 13 14 Concessional 17 37 128 0 4 5 6 3 13 14 Private creditors 2 33 51 22 30 10 1 2 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 0 0 0 0 0 0 0 Other private 2 31 51 22 30 10 1 2 0 0 Private 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 0 Memo: IBRD 6 0 0 0 0 0 0 0 0 0 IDA 3 28 74 142 65 69 157 137 455 465 PRINCIPAL REPAYMENTS 15 17 152 292 52 64 88 71 108 54 Public and publicly guaranteed 15 17 152 292 52 64 88 71 108 54 Official creditors 6 11 45 61 44 57 75 62 98 50 Multilateral 3 4 16 42 42 45 56 55 65 43 Concessional 0 0 7 23 24 27 29 31 42 18 Bilateral 3 6 29 19 3 11 19 6 33 7 Concessional 3 6 13 12 2 11 18 6 33 5 Private creditors 9 7 107 231 8 8 13 10 10 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 3 45 226 2 5 4 4 5 4 Other private 9 4 62 5 6 3 9 6 5 0 Private 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 0 Memo: IBRD 3 4 7 0 0 0 0 0 0 0 IDA 0 0 4 14 15 18 20 21 22 5 NET FLOWS ON DEBT 13 93 222 1 127 77 142 114 424 544 Public and publicly guaranteed 13 93 222 1 127 77 142 114 424 544 Official 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 9 Private 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 0 Private 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 0 Memo: IBRD 3 -4 -7 0 0 0 0 0 0 0 IDA 3 28 69 127 50 51 137 116 433 460 210 ETHIOPIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 6 17 48 54 46 48 55 52 61 42 Public and publicly guaranteed 6 17 48 54 46 48 55 52 61 42 Official creditors 5 14 24 39 42 45 50 48 58 41 Multilateral 3 8 13 30 33 33 35 33 27 33 Concessional 0 2 7 16 17 17 19 20 17 21 Bilateral 2 6 11 9 8 12 15 14 31 8 Concessional 2 5 9 4 4 8 11 11 30 7 Private creditors 1 2 24 15 4 3 5 4 3 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 11 14 2 1 1 1 1 1 Other private 1 1 13 0 3 2 4 3 2 0 Private 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 0 Memo: IBRD 3 7 2 0 0 0 0 0 0 0 IDA 0 2 6 11 11 11 12 13 14 12 NET TRANSFERS ON DEBT 6 76 173 -52 81 29 87 63 362 502 Public and publicly guaranteed 6 76 173 -52 81 29 87 63 362 502 Official 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 2 Private 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 0 Private 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 0 Memo: IBRD 0 -10 -9 0 0 0 0 0 0 0 IDA 3 26 64 116 38 40 125 103 419 447 DEBT SERVICE (LTDS) 21 34 201 346 98 113 144 123 169 96 Public and publicly guaranteed 21 34 201 346 98 113 144 123 169 96 Official creditors 10 25 69 100 86 101 125 109 156 90 Multilateral 6 13 29 72 75 78 91 89 92 76 Concessional 0 2 14 38 41 44 48 51 60 39 Bilateral 5 12 40 28 11 23 34 21 64 15 Concessional 5 11 22 16 7 19 30 17 63 12 Private creditors 11 9 131 246 12 11 18 14 13 5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 4 56 240 4 6 5 5 6 5 Other private 11 5 76 6 8 5 13 8 7 0 Private 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 0 Memo: IBRD 6 10 9 0 0 0 0 0 0 0 IDA 0 2 10 25 26 29 32 34 36 17 UNDISBURSED DEBT 108 436 2,002 1,052 860 1,760 1,439 1,663 1,451 1,422 Official creditors 105 383 1,565 1,021 846 1,756 1,436 1,663 1,450 1,421 Private creditors 4 54 436 31 15 4 3 1 1 1 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.4 4.8 Deutsche mark 2.7 8.1 1.9 2.2 1.8 1.9 2.8 2.6 .. .. French franc 0.0 0.0 0.2 0.1 0.1 0.1 0.1 0.1 .. .. Japanese yen 0.0 2.5 0.5 0.2 0.1 0.2 0.3 0.3 0.2 0.2 Pound sterling 2.1 2.3 0.3 0.2 0.2 0.2 0.4 0.3 0.3 0.3 Swiss franc 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 U.S.dollars 41.9 64.5 24.2 26.8 27.6 28.1 74.9 76.0 77.9 77.7 Multiple currency 28.0 14.7 4.4 8.6 8.8 9.2 16.1 15.1 13.7 12.3 Special drawing rights 0.0 0.0 0.2 0.2 0.2 0.2 0.4 0.4 0.5 0.5 All other currencies 25.1 7.8 68.2 61.6 61.1 60.2 5.0 5.1 2.9 4.1 211 ETHIOPIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 66 0 19 6 4,321 0 25 64 Memo: interest forgiven .. .. 0 18 3 1 426 0 11 22 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 76.8 Official 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 76.8 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 282 314 247 174 137 100 67 35 24 10 Principal 185 194 189 187 186 196 206 193 196 204 Interest 69 74 74 71 68 65 62 59 57 54 Official creditors Disbursements 282 314 247 174 137 100 67 35 24 10 Principal 174 183 178 177 183 195 206 193 195 204 Interest 65 71 71 69 67 65 62 59 56 53 Bilateral creditors Disbursements 6 8 2 1 1 0 0 0 0 0 Principal 94 94 89 87 87 84 86 73 64 65 Interest 24 29 30 29 27 26 24 23 21 20 Multilateral creditors Disbursements 276 306 245 172 137 100 67 35 24 10 Principal 81 89 89 90 96 111 120 120 132 139 Interest 41 41 41 41 40 39 37 36 35 33 Private creditors Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 11 11 11 11 3 1 0 0 0 0 Interest 3 3 2 1 1 1 1 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 1 0 0 0 0 0 0 0 0 0 Principal 11 11 11 11 3 1 0 0 0 0 Interest 3 3 2 1 1 1 1 0 0 0 212 FIJI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 11.7 281.2 412.7 218.1 219.1 192.9 236.1 209.2 188.5 209.6 Long-term debt (LDOD) 11.7 244.9 400.7 199.7 171.1 172.3 218.7 193.5 172.6 172.9 Public and publicly guaranteed 11.7 180.0 306.0 147.2 129.9 140.1 194.1 174.4 159.6 165.4 Private nonguaranteed 0.0 64.9 94.7 52.5 41.2 32.2 24.7 19.1 13.0 7.5 Use of IMF credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 36.3 12.0 18.4 48.0 20.7 17.4 15.6 15.9 36.7 of which interest arrears on LDOD 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Official creditors 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits 0.0 0.0 61.0 33.5 44.9 7.8 5.9 4.6 3.9 4.6 TOTAL DEBT FLOWS Disbursements 2.3 78.3 33.5 8.6 9.1 6.5 76.0 7.1 4.4 12.6 Long-term debt 2.3 78.3 33.5 8.6 9.1 6.5 76.0 7.1 4.4 12.6 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 1.6 19.7 73.0 35.2 23.2 23.9 29.0 22.9 17.8 20.1 Long-term debt 1.6 11.2 72.1 35.2 23.2 23.9 29.0 22.9 17.8 20.1 IMF repurchases 0.0 8.5 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt 0.7 71.6 -41.5 -23.1 15.6 -44.8 43.8 -17.5 -13.1 13.2 of which short-term debt 0.0 13.0 -2.0 3.5 29.6 -27.4 -3.3 -1.7 0.3 20.7 Interest payments (INT) 1.1 16.2 32.9 13.5 12.5 10.6 9.7 9.5 8.1 7.7 Long-term debt 1.1 9.5 31.4 12.5 10.5 8.9 8.7 8.7 7.5 7.2 IMF charges 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 6.3 1.5 1.0 2.0 1.7 1.0 0.8 0.6 0.5 Net transfers on debt -0.4 55.4 -74.4 -36.6 3.1 -55.4 34.1 -27.1 -21.2 5.5 Total debt service paid (TDS) 2.7 35.8 105.9 48.7 35.7 34.5 38.7 32.4 25.9 27.8 Long-term debt 2.7 20.7 103.5 47.7 33.7 32.8 37.7 31.6 25.3 27.3 IMF repurchases and charges 0.0 8.8 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) 0.0 6.3 1.5 1.0 2.0 1.7 1.0 0.8 0.6 0.5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 11.3 118.7 67.5 -5.4 16.0 103.3 28.4 -31.6 81.3 75.4 Net 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 -7.5 Foreign direct investment (net) 6.4 36.3 91.9 2.4 15.6 107.0 -33.2 -25.1 89.6 76.9 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 4.2 15.3 14.3 18.8 14.4 13.7 14.6 9.3 5.1 6.0 Memo: 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 -11.8 Interest on long-term debt 1.1 9.5 31.4 12.5 10.5 8.9 8.7 8.7 7.5 7.2 Profit remittances on FDI 0.0 30.4 49.4 81.9 90.9 103.0 71.9 75.5 79.3 80.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 1,839.5 Exports of goods, serv. & inc. (XGS) .. 597.1 881.6 1,348.4 1,265.3 986.7 1,110.1 514.0 468.8 472.2 Worker remit. & comp. of employees 0.0 4.0 21.3 33.3 34.6 53.9 51.2 23.0 23.0 23.0 Imports of goods & services (MGS) .. 656.6 974.3 1,344.4 1,323.7 1,077.2 1,125.9 672.9 626.3 715.4 International reserves (RES) 27.4 174.1 261.1 427.5 360.5 385.9 428.9 412.0 366.6 359.1 Current account balance .. -17.5 -94.0 13.5 -34.1 -59.9 12.7 .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 47.1 46.8 16.2 17.3 19.6 21.3 40.7 40.2 44.4 EDT / GNI (%) 5.5 23.7 32.0 10.6 10.7 12.3 13.4 13.0 11.4 11.4 TDS / XGS (%) .. 6.0 12.0 3.6 2.8 3.5 3.5 6.3 5.5 5.9 INT / XGS (%) .. 2.7 3.7 1.0 1.0 1.1 0.9 1.9 1.7 1.6 INT / GNI (%) 0.5 1.4 2.6 0.7 0.6 0.7 0.6 0.6 0.5 0.4 RES / EDT (%) 234.4 61.9 63.3 196.1 164.5 200.0 181.7 197.0 194.5 171.3 RES / MGS (months) .. 3.2 3.2 3.8 3.3 4.3 4.6 7.3 7.0 6.0 Short-term / EDT (%) 0.0 12.9 2.9 8.4 21.9 10.7 7.4 7.5 8.4 17.5 Concessional / EDT (%) 14.6 9.2 7.3 8.5 8.0 12.6 8.5 9.0 9.2 12.5 Multilateral / EDT (%) 0.0 23.2 49.0 60.0 53.4 63.3 76.1 77.4 78.9 70.1 213 FIJI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 11.7 244.9 400.7 199.7 171.1 172.3 218.7 193.5 172.6 172.9 Public and publicly guaranteed 11.7 180.0 306.0 147.2 129.9 140.1 194.1 174.4 159.6 165.4 Official creditors 8.2 123.7 279.1 146.9 129.8 140.0 194.0 174.4 159.6 165.4 Multilateral 0.0 65.1 202.0 130.9 117.0 122.1 179.7 161.9 148.8 147.0 Concessional 0.0 4.4 14.7 10.6 11.2 11.4 9.1 8.2 7.7 8.4 Bilateral 8.2 58.6 77.1 16.0 12.9 18.0 14.3 12.5 10.9 18.5 Concessional 1.7 21.5 15.2 7.8 6.3 12.9 10.9 10.7 9.7 17.8 Private creditors 3.5 56.3 26.9 0.3 0.1 0.1 0.0 0.0 0.0 0.0 Bonds 3.5 2.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 41.0 12.1 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 12.8 14.7 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 64.9 94.7 52.5 41.2 32.2 24.7 19.1 13.0 7.5 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 64.9 94.7 52.5 41.2 32.2 24.7 19.1 13.0 7.5 Memo: IBRD 0.0 33.5 67.8 32.8 30.3 31.8 28.1 19.7 14.8 12.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DISBURSEMENTS 2.3 78.3 33.5 8.6 9.1 6.5 76.0 7.1 4.4 12.6 Public and publicly guaranteed 2.3 78.3 19.3 8.6 9.1 6.5 76.0 7.1 4.4 12.6 Official creditors 2.3 43.4 18.6 8.6 9.1 6.5 76.0 7.1 4.4 12.6 Multilateral 0.0 23.2 13.2 8.6 9.1 6.5 76.0 5.6 4.4 4.5 Concessional 0.0 2.3 0.0 0.0 2.1 0.0 0.0 0.0 0.0 0.0 Bilateral 2.3 20.2 5.3 0.0 0.0 0.0 0.0 1.5 0.0 8.1 Concessional 2.3 0.0 1.0 0.0 0.0 0.0 0.0 1.5 0.0 8.1 Private creditors 0.0 34.9 0.7 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 31.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 3.9 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 14.2 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 0.0 Commercial banks and other 0.0 0.0 14.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: IBRD 0.0 5.7 5.1 6.6 4.3 4.3 1.5 1.0 0.0 0.0 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS 1.6 11.2 72.1 35.2 23.2 23.9 29.0 22.9 17.8 20.1 Public and publicly guaranteed 1.6 11.2 54.6 19.7 11.9 14.9 21.5 17.3 11.7 14.6 Official creditors 0.7 4.2 41.5 19.5 11.7 14.9 21.5 17.3 11.7 14.6 Multilateral 0.0 1.0 33.8 16.9 9.3 11.6 18.5 14.6 10.4 13.1 Concessional 0.0 0.0 0.3 0.5 0.3 0.4 0.7 0.3 0.3 0.4 Bilateral 0.7 3.2 7.7 2.6 2.3 3.3 3.0 2.7 1.3 1.5 Concessional 0.6 1.4 0.8 1.3 1.0 1.8 1.5 1.4 0.7 0.9 Private creditors 0.9 7.0 13.2 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 0.0 5.7 0.2 0.2 0.0 0.0 0.0 0.0 0.0 Other private 0.0 5.3 7.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 17.5 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 17.5 15.5 11.3 9.0 7.5 5.6 6.1 5.5 Memo: IBRD 0.0 0.7 9.1 6.7 3.9 4.8 4.8 7.7 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 NET FLOWS ON DEBT 0.7 67.1 -38.7 -26.6 -14.0 -17.4 47.1 -15.8 -13.4 -7.5 Public and publicly guaranteed 0.7 67.1 -35.4 -11.1 -2.7 -8.4 54.6 -10.2 -7.3 -2.0 Official 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 7.2 Private 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 0.0 Private 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 -5.5 Memo: 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 0.0 214 FIJI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 1.1 9.5 31.4 12.5 10.5 8.9 8.7 8.7 7.5 7.2 Public and publicly guaranteed 1.1 9.5 24.0 9.0 7.6 6.9 7.2 7.9 6.8 6.7 Official creditors 0.6 6.1 21.4 9.0 7.6 6.9 7.2 7.9 6.8 6.7 Multilateral 0.0 3.4 15.0 8.0 6.7 6.0 6.5 7.4 6.5 6.2 Concessional 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Bilateral 0.6 2.7 6.3 1.0 0.8 0.9 0.7 0.5 0.3 0.5 Concessional 0.1 0.8 0.3 0.3 0.2 0.4 0.3 0.3 0.2 0.5 Private creditors 0.5 3.5 2.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.5 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 2.1 1.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 1.1 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 7.4 3.5 2.9 2.0 1.5 0.8 0.7 0.5 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 7.4 3.5 2.9 2.0 1.5 0.8 0.7 0.5 Memo: IBRD 0.0 2.7 5.6 2.3 2.1 1.9 1.8 1.4 0.9 0.7 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 -0.4 57.6 -70.0 -39.1 -24.6 -26.3 38.4 -24.5 -20.9 -14.7 Public and publicly guaranteed -0.4 57.6 -59.3 -20.1 -10.3 -15.3 47.3 -18.1 -14.1 -8.7 Official 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 6.8 Private 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 0.0 Private 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 -6.0 Memo: 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 DEBT SERVICE (LTDS) 2.7 20.7 103.5 47.7 33.7 32.8 37.7 31.6 25.3 27.3 Public and publicly guaranteed 2.7 20.7 78.6 28.7 19.4 21.8 28.7 25.2 18.5 21.3 Official creditors 1.4 10.3 62.8 28.5 19.2 21.7 28.7 25.2 18.5 21.3 Multilateral 0.0 4.4 48.8 24.9 16.1 17.6 25.0 22.0 16.9 19.3 Concessional 0.0 0.0 0.4 0.6 0.4 0.5 0.8 0.4 0.4 0.4 Bilateral 1.4 5.9 14.0 3.6 3.1 4.1 3.6 3.2 1.6 2.0 Concessional 0.7 2.2 1.2 1.6 1.2 2.1 1.8 1.7 0.9 1.3 Private creditors 1.4 10.4 15.8 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 2.1 6.8 0.2 0.2 0.0 0.0 0.0 0.0 0.0 Other private 0.0 6.4 9.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 24.9 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 24.9 19.0 14.3 11.0 9.0 6.4 6.8 6.0 Memo: IBRD 0.0 3.3 14.7 9.0 6.0 6.7 6.7 9.1 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 UNDISBURSED DEBT 1.4 120.8 81.2 28.8 60.1 74.3 62.9 53.2 46.4 51.9 Official creditors 1.2 120.8 80.6 28.8 60.1 74.3 62.9 53.2 46.4 51.9 Private creditors 0.2 0.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD 1.7 25.9 29.9 18.4 17.5 24.3 20.0 18.8 17.4 26.2 Variable rate LDOD 0.0 105.9 124.0 98.1 84.6 79.6 71.2 59.7 50.8 48.1 Public sector LDOD 11.7 180.0 306.0 147.2 129.9 140.1 194.1 174.4 159.6 165.4 Private sector LDOD 0.0 64.9 94.7 52.5 41.2 32.2 24.7 19.1 13.0 7.5 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.7 2.9 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 0.0 0.0 1.4 2.1 1.9 2.0 1.1 1.1 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 0.8 5.9 Pound sterling 34.2 24.7 16.4 6.4 5.7 4.0 1.9 1.1 0.8 0.4 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 14.6 26.1 5.2 0.7 0.5 5.3 41.5 48.5 55.5 53.6 Multiple currency 0.0 36.2 58.9 84.6 84.9 83.0 52.6 46.6 40.0 36.9 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 51.2 13.1 18.0 6.3 6.9 5.7 2.8 2.0 0.3 0.2 215 FIJI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.1 8.1 6.6 0.0 6.5 2.5 3.0 0.0 0.0 2.5 Maturity (years) 17.7 14.4 24.7 0.0 25.4 24.3 12.3 0.0 0.0 24.4 Grace period (years) 5.2 3.7 5.1 0.0 5.4 7.0 3.3 0.0 0.0 3.9 Grant element (%) 43.6 9.5 22.9 0.0 24.6 55.6 35.3 0.0 0.0 51.9 Official creditors Interest (%) 3.0 7.9 6.6 0.0 6.5 2.5 3.0 0.0 0.0 2.5 Maturity (years) 18.5 14.7 24.8 0.0 25.4 24.3 12.3 0.0 0.0 24.4 Grace period (years) 5.5 3.7 5.1 0.0 5.4 7.0 3.3 0.0 0.0 3.9 Grant element (%) 45.6 10.6 23.0 0.0 24.6 55.6 35.3 0.0 0.0 51.9 Private creditors Interest (%) 5.5 10.2 8.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 5.2 10.0 10.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.7 3.3 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 10.5 -4.3 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 4 89 30 0 42 18 73 0 0 17 Official creditors 4 83 30 0 42 18 73 0 0 17 Private creditors 0 6 0 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 12.6 15.1 12.3 10.0 7.3 3.1 2.5 1.6 0.0 0.0 Principal 20.1 20.3 16.1 17.2 18.2 18.1 17.9 18.1 16.1 15.4 Interest 7.2 7.7 7.3 7.0 6.7 6.0 5.3 4.5 3.8 3.2 Official creditors Disbursements 12.6 15.1 12.3 10.0 7.3 3.1 2.5 1.6 0.0 0.0 Principal 14.6 19.2 15.0 16.1 17.1 17.0 16.8 17.1 16.1 15.4 Interest 6.7 7.0 6.7 6.5 6.3 5.7 5.1 4.5 3.8 3.2 Bilateral creditors Disbursements 8.1 6.3 2.0 0.9 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.5 1.6 0.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 Interest 0.5 0.7 0.7 0.7 0.7 0.6 0.6 0.5 0.4 0.4 Multilateral creditors Disbursements 4.5 8.8 10.3 9.1 7.3 3.1 2.5 1.6 0.0 0.0 Principal 13.1 17.6 14.1 14.3 15.4 15.2 15.0 15.3 14.4 13.6 Interest 6.2 6.3 6.0 5.8 5.7 5.1 4.6 4.0 3.4 2.8 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 5.5 1.1 1.1 1.1 1.1 1.1 1.1 1.1 0.0 0.0 Interest 0.5 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 5.5 1.1 1.1 1.1 1.1 1.1 1.1 1.1 0.0 0.0 Interest 0.5 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0.0 0.0 216 GABON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 104 1,514 3,983 4,310 4,278 4,425 3,978 3,912 3,413 3,533 Long-term debt (LDOD) 91 1,271 3,150 3,972 3,665 3,833 3,290 3,448 3,034 3,231 Public and publicly guaranteed 91 1,271 3,150 3,972 3,665 3,833 3,290 3,448 3,034 3,231 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 15 140 120 131 113 86 89 75 67 Short-term debt 13 228 693 219 482 478 602 376 304 235 of 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 1 Memo: 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 6 Memo: 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 71 Long-term debt 26 170 195 89 145 46 59 30 17 71 IMF purchases 0 0 9 32 23 0 0 17 0 0 Principal repayments 9 279 40 137 172 135 281 196 273 240 Long-term debt 9 279 26 131 168 112 256 187 262 227 IMF repurchases 0 0 15 5 4 23 25 10 11 13 Net flows on debt 17 -122 164 -84 259 -172 -112 -344 -270 -248 of which short-term debt 0 -13 0 -69 263 -83 109 -194 -13 -79 Interest payments (INT) 3 153 136 247 261 172 257 156 181 170 Long-term debt 3 119 78 232 238 142 231 124 166 158 IMF charges 0 1 13 4 6 6 4 4 4 2 Short-term debt 0 33 45 11 18 25 23 28 12 10 Net transfers on debt 14 -275 28 -331 -2 -344 -369 -500 -451 -418 Total debt service paid (TDS) 12 432 176 384 433 307 538 352 455 410 Long-term debt 12 398 104 363 406 254 487 311 428 385 IMF repurchases and charges 0 1 27 10 9 29 29 14 15 15 Short-term debt (interest only) 0 33 45 11 18 25 23 28 12 10 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 26 -73 273 -461 -276 132 -315 -161 -40 21 Net flow of long-term debt (ex. IMF) 17 -109 170 -42 -23 -66 -197 -157 -245 -156 Foreign direct investment (net) -1 32 74 -489 -311 147 -157 -43 169 123 Portfolio equity flows 0 0 0 -8 0 0 0 0 0 0 Grants (excluding technical coop.) 10 4 30 78 58 52 38 39 36 54 Memo: 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 -426 Interest on long-term debt 3 119 78 232 238 142 231 124 166 158 Profit remittances on FDI 0 273 116 386 330 177 227 280 310 290 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 306 3,856 5,336 4,887 4,754 4,067 3,812 4,240 3,753 4,167 Exports of goods, serv. & inc. (XGS) .. 2,434 2,750 3,613 3,308 2,188 2,866 3,115 3,277 3,502 Worker remit. & comp. of employees 0 0 0 6 6 6 4 4 4 4 Imports 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 13 144 Current account balance .. 384 168 889 531 -596 390 385 435 .. 4. DEBT INDICATORS EDT / XGS (%) .. 62.2 144.8 119.3 129.3 202.2 138.8 125.6 104.2 100.9 EDT / GNI (%) 34.0 39.3 74.6 88.2 90.0 108.8 104.4 92.3 90.9 84.8 TDS / XGS (%) .. 17.7 6.4 10.6 13.1 14.0 18.8 11.3 13.9 11.7 INT / XGS (%) .. 6.3 4.9 6.8 7.9 7.9 9.0 5.0 5.5 4.8 INT / GNI (%) 0.8 4.0 2.5 5.1 5.5 4.2 6.7 3.7 4.8 4.1 RES / EDT (%) 14.2 7.6 7.0 5.9 6.7 0.4 0.5 4.9 0.4 4.1 RES / MGS (months) .. 0.7 1.4 1.1 1.3 0.1 0.1 0.9 0.1 .. Short-term / EDT (%) 12.5 15.1 17.4 5.1 11.3 10.8 15.1 9.6 8.9 6.7 Concessional / EDT (%) 34.9 7.5 10.6 17.3 21.0 21.5 20.7 34.9 37.6 37.1 Multilateral / EDT (%) 30.0 2.7 8.0 13.5 12.3 12.5 13.2 11.8 11.2 11.3 217 GABON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 91 1,271 3,150 3,972 3,665 3,833 3,290 3,448 3,034 3,231 Public and publicly guaranteed 91 1,271 3,150 3,972 3,665 3,833 3,290 3,448 3,034 3,231 Official 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 1,284 Private 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 64 Private 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 0 Memo: IBRD 29 19 69 92 77 75 68 64 55 50 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 26 170 195 89 145 46 59 30 17 71 Public and publicly guaranteed 26 170 195 89 145 46 59 30 17 71 Official creditors 13 36 158 89 125 36 26 9 4 30 Multilateral 3 2 84 64 34 22 4 9 4 16 Concessional 1 0 4 5 6 2 0 0 0 0 Bilateral 9 33 74 25 91 14 22 0 0 14 Concessional 9 16 63 21 90 12 21 0 0 14 Private creditors 13 135 37 0 20 10 33 21 13 41 Bonds 4 0 0 0 0 0 0 0 0 0 Commercial banks 0 95 0 0 0 2 31 21 13 1 Other private 9 40 37 0 20 8 2 0 0 40 Private 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 0 Memo: IBRD 2 0 10 3 3 6 4 9 4 2 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 9 279 26 131 168 112 256 187 262 227 Public and publicly guaranteed 9 279 26 131 168 112 256 187 262 227 Official creditors 5 19 18 80 143 95 232 159 222 202 Multilateral 3 2 13 46 42 23 30 43 45 26 Concessional 0 0 1 2 3 1 2 0 0 0 Bilateral 2 17 5 34 101 72 202 116 177 176 Concessional 2 4 0 7 36 27 43 16 80 69 Private creditors 4 260 8 51 25 17 24 27 40 25 Bonds 0 1 0 0 0 0 0 0 0 0 Commercial banks 0 185 3 31 19 15 23 27 28 11 Other private 3 74 5 20 5 2 1 0 12 14 Private 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 0 Memo: IBRD 3 2 1 13 10 9 10 13 13 8 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 17 -109 170 -42 -23 -66 -197 -157 -245 -156 Public and publicly guaranteed 17 -109 170 -42 -23 -66 -197 -157 -245 -156 Official 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 -55 Private 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 26 Private 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 0 Memo: IBRD -1 -2 9 -11 -7 -3 -6 -4 -9 -6 IDA 0 0 0 0 0 0 0 0 0 0 218 GABON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 3 119 78 232 238 142 231 124 166 158 Public and publicly guaranteed 3 119 78 232 238 142 231 124 166 158 Official creditors 2 19 68 219 228 134 221 118 156 152 Multilateral 1 2 21 43 44 21 29 42 27 18 Concessional 0 0 0 1 1 0 1 0 0 0 Bilateral 1 17 47 176 184 113 192 75 129 134 Concessional 1 2 2 38 35 23 26 9 43 23 Private creditors 1 100 11 12 10 8 9 7 10 6 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 80 5 9 7 7 7 7 5 3 Other private 0 19 6 3 3 1 2 0 5 3 Private 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 0 Memo: IBRD 1 2 5 9 6 3 5 5 7 4 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 14 -227 92 -274 -261 -208 -427 -281 -411 -314 Public and publicly guaranteed 14 -227 92 -274 -261 -208 -427 -281 -411 -314 Official 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 -77 Private 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 23 Private 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 0 Memo: IBRD -2 -3 4 -20 -13 -6 -11 -9 -16 -10 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 12 398 104 363 406 254 487 311 428 385 Public and publicly guaranteed 12 398 104 363 406 254 487 311 428 385 Official creditors 8 38 85 300 371 229 453 277 378 354 Multilateral 5 4 34 89 86 43 58 85 73 44 Concessional 0 0 2 3 4 1 2 0 0 0 Bilateral 3 34 51 210 285 185 395 192 305 310 Concessional 3 6 2 46 71 51 69 24 123 91 Private creditors 4 359 19 63 35 25 34 34 50 31 Bonds 1 1 0 0 0 0 0 0 0 0 Commercial banks 0 266 8 40 27 22 30 34 34 14 Other private 4 93 11 23 8 3 3 0 16 17 Private 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 0 Memo: IBRD 4 3 6 22 16 12 15 18 20 12 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 34 164 285 445 419 444 347 150 129 174 Official creditors 15 133 268 445 382 357 299 133 126 174 Private creditors 19 31 17 0 37 87 48 17 3 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 45.7 48.6 Deutsche mark 4.9 4.8 8.4 7.8 7.1 6.7 6.0 4.5 .. .. French franc 43.2 39.0 54.8 46.4 45.3 45.6 43.6 35.7 .. .. Japanese yen 0.0 1.5 0.7 0.8 0.8 0.8 1.0 0.8 0.7 0.6 Pound sterling 0.0 0.8 5.3 5.6 6.0 5.8 6.0 4.6 4.5 4.2 Swiss franc 0.0 0.5 0.3 0.7 0.7 0.7 0.6 0.5 0.6 0.6 U.S.dollars 7.6 42.7 10.3 11.3 11.2 12.0 12.6 29.1 32.7 30.5 Multiple currency 32.2 1.5 3.7 8.9 8.7 6.7 7.7 6.3 5.7 5.6 Special drawing rights 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 12.0 9.2 16.5 18.4 20.3 21.7 22.5 18.4 10.2 9.8 219 GABON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 271 501 315 127 0 637 50 10 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 188 269 191 82 0 440 83 0 Official .. .. 32 266 190 82 0 440 82 0 Private .. .. 156 4 1 0 0 1 1 0 Interest rescheduled .. .. 77 64 45 21 0 309 76 0 Official .. .. 27 64 44 21 0 307 74 0 Private .. .. 50 0 0 0 0 2 2 0 Debt forgiven .. .. 0 0 2 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 21.3 Official 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 27.1 Private 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 12.3 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 64 46 32 19 9 2 0 0 0 0 Principal 323 334 348 351 375 390 393 257 258 241 Interest 160 177 158 136 114 90 64 42 29 13 Official creditors Disbursements 64 46 32 19 9 2 0 0 0 0 Principal 278 318 333 344 369 384 387 251 256 240 Interest 154 173 155 135 113 89 63 42 29 13 Bilateral creditors Disbursements 13 8 4 2 1 1 0 0 0 0 Principal 219 261 276 289 317 336 345 214 220 210 Interest 134 154 137 119 100 79 55 36 24 10 Multilateral creditors Disbursements 52 38 28 17 9 1 0 0 0 0 Principal 59 57 57 55 52 48 42 38 36 30 Interest 20 19 18 15 13 10 8 6 5 3 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 45 17 15 8 6 6 6 5 1 1 Interest 6 4 3 2 1 1 1 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 32 4 4 2 1 1 1 1 1 1 Interest 2 1 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 13 13 11 5 5 5 5 4 0 0 Interest 4 3 2 2 1 1 1 0 0 0 220 GAMBIA, THE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5.1 136.8 369.1 452.0 424.6 459.5 464.6 483.3 486.9 572.6 Long-term debt (LDOD) 5.1 97.3 308.4 411.9 401.2 433.6 431.1 437.9 434.3 503.6 Public and publicly guaranteed 5.1 97.3 308.4 411.9 401.2 433.6 431.1 437.9 434.3 503.6 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 16.2 44.9 17.6 10.2 10.4 11.3 18.1 25.9 31.9 Short-term debt 0.0 23.3 15.7 22.6 13.2 15.5 22.2 27.3 26.8 37.0 of which interest arrears on LDOD 0.0 0.3 0.6 0.2 0.2 0.2 0.0 0.0 0.0 0.0 Official creditors 0.0 0.2 0.6 0.2 0.2 0.2 0.0 0.0 0.0 0.0 Private creditors 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD 0.0 0.0 0.9 1.9 0.9 0.7 1.3 2.0 4.0 6.4 Official creditors 0.0 0.0 0.9 1.9 0.9 0.7 1.3 2.0 4.0 6.4 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits 0.0 0.0 32.0 23.2 22.3 5.3 2.0 1.4 1.7 3.9 TOTAL DEBT FLOWS Disbursements 0.8 55.7 32.8 58.1 24.0 20.9 26.3 29.7 31.4 56.0 Long-term debt 0.8 51.2 23.5 58.1 24.0 16.2 21.6 20.7 22.7 52.3 IMF purchases 0.0 4.4 9.3 0.0 0.0 4.7 4.7 9.1 8.7 3.7 Principal repayments 0.1 0.4 25.5 22.2 19.8 19.5 14.7 14.3 9.8 12.8 Long-term debt 0.1 0.4 20.2 14.8 13.5 14.6 11.1 12.7 9.6 12.8 IMF repurchases 0.0 0.0 5.3 7.4 6.4 4.9 3.5 1.6 0.2 0.0 Net flows on debt 0.7 58.3 15.5 44.1 -5.3 3.7 18.5 20.6 21.1 53.5 of which short-term debt 0.0 3.0 8.1 8.2 -9.4 2.3 6.8 5.2 -0.5 10.2 Interest payments (INT) 0.0 3.8 12.3 5.7 6.8 6.3 6.5 7.3 4.6 6.4 Long-term debt 0.0 0.4 10.2 4.5 5.7 5.4 5.5 6.0 3.5 5.7 IMF charges 0.0 0.5 1.3 0.1 0.1 0.1 0.0 0.1 0.1 0.1 Short-term debt 0.0 2.9 0.8 1.1 1.1 0.8 1.0 1.2 1.0 0.6 Net transfers on debt 0.7 54.5 3.2 38.3 -12.1 -2.6 12.0 13.3 16.5 47.1 Total debt service paid (TDS) 0.1 4.1 37.7 28.0 26.7 25.7 21.2 21.5 14.4 19.2 Long-term debt 0.1 0.8 30.3 19.3 19.1 20.0 16.6 18.7 13.1 18.5 IMF repurchases and charges 0.0 0.5 6.7 7.6 6.4 4.9 3.6 1.7 0.3 0.1 Short-term debt (interest only) 0.0 2.9 0.8 1.1 1.1 0.8 1.0 1.2 1.0 0.6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 0.9 78.0 48.0 67.3 40.1 49.4 73.9 73.2 62.6 100.5 Net 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 39.5 Foreign direct investment (net) 0.1 0.0 0.0 10.8 12.0 23.7 49.5 43.5 35.5 42.8 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 0.1 27.2 44.7 13.2 17.6 24.0 13.9 21.7 14.0 18.2 Memo: 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 94.8 Interest on long-term debt 0.0 0.4 10.2 4.5 5.7 5.4 5.5 6.0 3.5 5.7 Profit remittances on FDI 0.0 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 52.3 237.0 291.4 385.5 401.2 409.5 425.1 414.3 383.0 349.5 Exports 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 0.0 Imports of goods & services (MGS) .. 181.5 205.4 303.4 293.1 .. .. .. .. .. International reserves (RES) 8.1 5.7 55.4 102.1 96.0 106.4 111.2 109.4 106.0 106.9 Current 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 57.7 126.7 117.2 105.8 112.2 109.3 116.7 127.1 163.8 TDS / 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 1.8 RES / EDT (%) 159.8 4.1 15.0 22.6 22.6 23.1 23.9 22.6 21.8 18.7 RES / 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 6.5 Concessional / EDT (%) 96.0 49.9 67.8 87.1 91.3 90.8 89.9 87.1 86.5 85.8 Multilateral / EDT (%) 0.0 29.9 55.0 72.5 76.8 75.7 74.5 71.1 70.5 68.6 221 GAMBIA, THE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5.1 97.3 308.4 411.9 401.2 433.6 431.1 437.9 434.3 503.6 Public and publicly guaranteed 5.1 97.3 308.4 411.9 401.2 433.6 431.1 437.9 434.3 503.6 Official creditors 5.1 73.4 290.1 411.9 401.2 433.6 430.3 436.2 433.1 502.7 Multilateral 0.0 40.9 203.1 327.5 326.0 347.7 346.0 343.7 343.5 392.8 Concessional 0.0 35.8 183.3 310.0 312.7 331.2 333.4 333.6 335.6 385.3 Bilateral 5.1 32.5 87.0 84.4 75.2 85.9 84.3 92.5 89.6 109.9 Concessional 4.9 32.5 66.8 83.9 75.2 85.9 84.3 87.3 85.5 106.1 Private creditors 0.0 23.9 18.3 0.0 0.0 0.0 0.8 1.7 1.2 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 0.0 7.4 16.0 0.0 0.0 0.0 0.0 0.9 0.6 0.5 Other private 0.0 16.5 2.3 0.0 0.0 0.0 0.8 0.7 0.6 0.4 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 15.9 101.6 165.9 165.6 172.6 172.8 170.7 169.9 194.5 DISBURSEMENTS 0.8 51.2 23.5 58.1 24.0 16.2 21.6 20.7 22.7 52.3 Public and publicly guaranteed 0.8 51.2 23.5 58.1 24.0 16.2 21.6 20.7 22.7 52.3 Official creditors 0.8 29.6 23.5 58.1 24.0 16.2 20.8 20.7 22.7 52.3 Multilateral 0.0 18.3 17.7 22.4 23.1 14.4 15.7 17.1 19.6 29.3 Concessional 0.0 16.1 16.6 22.4 23.1 14.4 15.7 17.1 19.6 29.3 Bilateral 0.8 11.3 5.8 35.7 0.8 1.9 5.1 3.6 3.1 23.0 Concessional 0.8 11.3 5.8 35.7 0.8 1.9 5.1 3.6 3.1 23.0 Private creditors 0.0 21.7 0.0 0.0 0.0 0.0 0.8 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 7.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 14.7 0.0 0.0 0.0 0.0 0.8 0.0 0.0 0.0 Private 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 0.0 Memo: 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 9.8 10.1 9.1 3.1 5.5 7.7 7.5 15.0 PRINCIPAL REPAYMENTS 0.1 0.4 20.2 14.8 13.5 14.6 11.1 12.7 9.6 12.8 Public and publicly guaranteed 0.1 0.4 20.2 14.8 13.5 14.6 11.1 12.7 9.6 12.8 Official creditors 0.1 0.0 12.7 14.6 13.5 14.6 11.1 12.2 9.1 12.5 Multilateral 0.0 0.0 4.7 6.4 6.6 8.3 6.9 7.9 4.0 6.1 Concessional 0.0 0.0 2.7 3.6 4.0 6.0 4.7 6.4 2.9 4.5 Bilateral 0.1 0.0 7.9 8.2 6.8 6.2 4.3 4.3 5.1 6.4 Concessional 0.1 0.0 7.9 5.7 6.4 6.2 4.3 3.3 4.1 5.2 Private creditors 0.0 0.3 7.5 0.2 0.0 0.0 0.0 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 0.1 3.0 0.0 0.0 0.0 0.0 0.3 0.3 0.2 Other private 0.0 0.3 4.5 0.2 0.0 0.0 0.0 0.2 0.1 0.2 Private 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 0.0 Memo: 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 0.3 1.0 1.3 1.4 1.9 2.3 0.6 0.7 NET FLOWS ON DEBT 0.7 50.9 3.4 43.3 10.5 1.6 10.5 8.0 13.1 39.5 Public and publicly guaranteed 0.7 50.9 3.4 43.3 10.5 1.6 10.5 8.0 13.1 39.5 Official 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 17.8 Private 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 -0.2 Private 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 0.0 Memo: 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 14.3 222 GAMBIA, THE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.0 0.4 10.2 4.5 5.7 5.4 5.5 6.0 3.5 5.7 Public and publicly guaranteed 0.0 0.4 10.2 4.5 5.7 5.4 5.5 6.0 3.5 5.7 Official creditors 0.0 0.4 5.5 4.5 5.7 5.4 5.5 5.8 3.4 5.6 Multilateral 0.0 0.4 2.9 3.4 3.4 3.3 3.5 3.6 2.5 3.4 Concessional 0.0 0.2 1.5 2.4 2.7 2.7 3.0 3.3 2.2 3.1 Bilateral 0.0 0.0 2.6 1.2 2.3 2.1 2.0 2.2 0.9 2.2 Concessional 0.0 0.0 2.6 1.0 2.3 2.1 2.0 1.8 0.6 1.9 Private creditors 0.0 0.0 4.7 0.0 0.0 0.0 0.0 0.2 0.1 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 3.8 0.0 0.0 0.0 0.0 0.1 0.0 0.0 Other private 0.0 0.0 0.9 0.0 0.0 0.0 0.0 0.1 0.1 0.0 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 0.7 1.2 1.2 1.2 1.3 1.2 1.1 1.2 NET TRANSFERS ON DEBT 0.7 50.5 -6.8 38.8 4.8 -3.8 5.0 2.0 9.6 33.8 Public and publicly guaranteed 0.7 50.5 -6.8 38.8 4.8 -3.8 5.0 2.0 9.6 33.8 Official 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 15.9 Private 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 -0.2 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.1 0.8 30.3 19.3 19.1 20.0 16.6 18.7 13.1 18.5 Public and publicly guaranteed 0.1 0.8 30.3 19.3 19.1 20.0 16.6 18.7 13.1 18.5 Official creditors 0.1 0.4 18.2 19.1 19.1 20.0 16.6 18.0 12.6 18.1 Multilateral 0.0 0.4 7.7 9.7 10.0 11.6 10.4 11.6 6.5 9.6 Concessional 0.0 0.2 4.2 6.0 6.7 8.7 7.6 9.6 5.1 7.7 Bilateral 0.1 0.0 10.5 9.4 9.1 8.3 6.2 6.4 6.1 8.6 Concessional 0.1 0.0 10.5 6.7 8.7 8.3 6.2 5.1 4.8 7.1 Private creditors 0.0 0.4 12.1 0.2 0.0 0.0 0.0 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 0.1 6.8 0.0 0.0 0.0 0.0 0.4 0.3 0.2 Other private 0.0 0.3 5.4 0.2 0.0 0.0 0.0 0.3 0.2 0.2 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 0.1 1.0 2.2 2.5 2.6 3.2 3.5 1.7 2.0 UNDISBURSED DEBT 5.5 106.3 167.7 71.2 64.7 112.1 143.8 142.0 187.5 234.1 Official creditors 5.5 87.7 167.7 71.2 64.7 112.1 143.8 142.0 187.5 234.1 Private creditors 0.0 18.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD 4.9 68.3 250.1 393.9 387.9 417.1 417.8 420.9 421.1 491.5 Variable rate LDOD 0.0 7.7 17.6 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD 5.1 94.0 306.6 411.9 401.2 433.6 431.1 437.9 434.3 503.6 Private sector LDOD 0.0 3.4 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.9 5.5 Deutsche mark 0.0 1.8 1.8 0.2 0.1 0.1 0.1 0.1 .. .. French franc 0.0 1.4 7.7 2.0 1.3 0.7 0.3 2.1 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 100.0 16.3 8.5 5.9 5.9 5.3 5.1 4.8 4.7 3.9 Swiss franc 0.0 0.5 1.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 0.0 32.3 39.1 49.4 50.3 50.4 52.0 51.3 52.3 54.9 Multiple currency 0.0 6.9 19.8 22.1 21.7 21.5 21.2 19.9 19.4 17.7 Special drawing rights 0.0 0.0 0.0 0.0 0.1 0.1 0.4 0.7 1.1 1.2 All other currencies 0.0 40.6 21.8 20.4 20.6 21.9 20.8 21.1 16.7 16.8 223 GAMBIA, THE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 0.0 0.0 0.0 0.0 0.0 4.1 4.0 Memo: interest forgiven .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.7 3.9 0.8 0.4 1.0 1.1 1.3 1.7 1.2 1.9 Maturity (years) 49.7 20.3 42.1 27.2 49.6 33.0 30.8 27.4 36.6 31.0 Grace period (years) 10.4 4.9 10.0 7.1 10.5 8.6 6.2 6.8 8.5 8.3 Grant element (%) 83.3 39.1 79.7 71.3 80.5 71.6 65.6 61.3 72.3 64.8 Official creditors Interest (%) 0.7 1.7 0.8 0.4 1.0 1.1 1.3 1.7 1.2 1.9 Maturity (years) 49.7 25.1 42.1 27.2 49.6 33.0 31.3 27.4 36.6 31.0 Grace period (years) 10.4 5.8 10.0 7.1 10.5 8.6 6.3 6.8 8.5 8.3 Grant element (%) 83.3 55.8 79.7 71.3 80.5 71.6 66.5 61.3 72.3 64.8 Private creditors Interest (%) 0.0 7.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 12.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 0.0 11.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 2 73 38 10 22 60 60 24 72 87 Official creditors 2 46 38 10 22 60 59 24 72 87 Private creditors 0 27 0 0 0 0 1 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 52.3 52.6 55.3 42.0 32.3 21.5 13.5 8.9 3.9 2.2 Principal 12.8 19.8 21.8 21.5 21.1 22.0 22.5 23.9 26.0 26.9 Interest 5.7 7.0 7.3 7.4 7.4 7.2 7.0 6.8 6.5 6.1 Official creditors Disbursements 52.3 52.6 55.3 42.0 32.3 21.5 13.5 8.9 3.9 2.2 Principal 12.5 19.5 21.4 21.2 21.1 22.0 22.5 23.9 26.0 26.9 Interest 5.6 7.0 7.3 7.4 7.4 7.2 7.0 6.8 6.5 6.1 Bilateral creditors Disbursements 23.0 10.3 8.4 6.0 3.6 1.6 1.1 0.6 0.3 0.2 Principal 6.4 8.5 9.5 8.9 7.6 7.3 7.3 7.3 7.9 7.6 Interest 2.2 3.2 3.2 3.1 3.0 2.9 2.7 2.6 2.4 2.2 Multilateral creditors Disbursements 29.3 42.4 46.9 36.1 28.7 19.9 12.4 8.4 3.6 2.1 Principal 6.1 11.0 11.9 12.3 13.5 14.7 15.2 16.5 18.0 19.3 Interest 3.4 3.8 4.1 4.3 4.4 4.4 4.3 4.2 4.1 3.9 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.3 0.3 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.2 0.2 0.2 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.2 0.2 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 224 GEORGIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,361 1,466 1,648 1,653 1,638 1,729 1,838 Long-term debt (LDOD) .. .. .. 1,106 1,190 1,316 1,326 1,316 1,364 1,495 Public and publicly guaranteed .. .. .. 1,106 1,190 1,301 1,309 1,274 1,311 1,444 Private nonguaranteed .. .. .. 0 0 15 17 42 53 51 Use of IMF credit .. .. .. 192 255 304 320 278 287 310 Short-term debt .. .. .. 64 22 28 7 44 78 33 of 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 0 Memo: 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 0 Memo: export credits .. .. .. 100 84 90 82 76 125 140 TOTAL DEBT FLOWS Disbursements .. .. .. 173 173 279 142 65 139 127 Long-term debt .. .. .. 92 96 241 97 65 105 98 IMF purchases .. .. .. 81 76 38 46 0 34 29 Principal repayments .. .. .. 1 3 150 62 68 43 86 Long-term debt .. .. .. 1 3 149 40 42 27 56 IMF repurchases .. .. .. 0 0 1 22 26 15 30 Net flows on debt .. .. .. 169 153 153 59 33 114 15 of which short-term debt .. .. .. -3 -17 24 -22 36 17 -27 Interest payments (INT) .. .. .. 12 44 63 47 49 35 43 Long-term debt .. .. .. 6 37 57 42 43 29 39 IMF charges .. .. .. 5 6 6 5 5 3 2 Short-term debt .. .. .. 1 1 1 0 1 2 2 Net transfers on debt .. .. .. 157 109 90 12 -17 79 -28 Total debt service paid (TDS) .. .. .. 13 46 213 109 118 77 129 Long-term debt .. .. .. 7 40 205 82 86 57 95 IMF repurchases and charges .. .. .. 5 6 7 26 31 19 32 Short-term debt (interest only) .. .. .. 1 1 1 0 1 2 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 219 392 420 211 211 262 273 Net flow of long-term debt (ex. IMF) .. .. .. 91 94 93 57 23 77 43 Foreign direct investment (net) .. .. .. 45 243 265 82 131 110 165 Portfolio equity flows .. .. .. 0 2 0 6 0 0 0 Grants (excluding technical coop.) .. .. .. 83 53 62 66 57 75 66 Memo: technical coop. grants .. .. .. 46 19 26 41 83 106 153 official net resource flows .. .. .. 174 147 148 118 54 139 125 private net resource flows .. .. .. 45 245 272 93 157 123 149 NET TRANSFERS .. .. .. 211 352 364 169 167 222 134 Interest on long-term debt .. .. .. 6 37 57 42 43 29 39 Profit remittances on FDI .. .. .. 2 3 0 0 0 11 100 Memo: official net transfers .. .. .. 168 110 92 78 12 112 88 private net transfers .. .. .. 43 242 271 91 155 110 47 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 3,007 3,703 3,811 2,950 3,165 3,234 3,415 Exports of goods, serv. & inc. (XGS) .. .. .. .. 864 1,046 907 939 995 1,168 Worker remit. & comp. of employees .. .. .. 0 284 373 361 274 181 184 Imports of goods & services (MGS) .. .. .. .. 1,472 1,392 1,152 1,248 1,348 1,525 International reserves (RES) .. .. .. 189 200 123 132 109 159 198 Current account balance .. .. .. .. -514 -276 -198 -269 -212 -230 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. 169.6 157.6 182.3 174.5 173.7 157.4 EDT / GNI (%) .. .. .. 45.3 39.6 43.2 56.0 51.8 53.4 53.8 TDS / XGS (%) .. .. .. .. 5.4 20.3 12.0 12.5 7.8 11.0 INT / XGS (%) .. .. .. .. 5.0 6.0 5.2 5.3 3.5 3.7 INT / GNI (%) .. .. .. 0.4 1.2 1.7 1.6 1.6 1.1 1.3 RES / EDT (%) .. .. .. 13.9 13.6 7.5 8.0 6.7 9.2 10.7 RES / MGS (months) .. .. .. .. 1.6 1.1 1.4 1.1 1.4 1.6 Short-term / EDT (%) .. .. .. 4.7 1.5 1.7 0.4 2.7 4.5 1.8 Concessional / EDT (%) .. .. .. 30.3 43.5 46.0 49.6 49.1 49.7 54.3 Multilateral / EDT (%) .. .. .. 23.0 24.7 26.4 29.1 29.2 30.1 34.6 225 GEORGIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 1,106 1,190 1,316 1,326 1,316 1,364 1,495 Public and publicly guaranteed .. .. .. 1,106 1,190 1,301 1,309 1,274 1,311 1,444 Official 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 .. .. .. 255 426 484 473 454 460 504 Private 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 2 Private 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 51 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 157 212 274 346 347 396 491 DISBURSEMENTS .. .. .. 92 96 241 97 65 105 98 Public and publicly guaranteed .. .. .. 92 96 234 92 37 88 92 Official creditors .. .. .. 92 96 234 92 37 88 92 Multilateral .. .. .. 78 76 186 83 25 74 73 Concessional .. .. .. 76 64 54 80 19 63 62 Bilateral .. .. .. 14 20 48 9 13 14 19 Concessional .. .. .. 14 20 48 9 13 14 19 Private 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 0 Private nonguaranteed .. .. .. 0 0 7 5 28 17 7 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 7 5 28 17 7 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 76 64 53 79 18 63 61 PRINCIPAL REPAYMENTS .. .. .. 1 3 149 40 42 27 56 Public and publicly guaranteed .. .. .. 1 3 149 39 41 24 33 Official creditors .. .. .. 1 3 149 39 41 24 33 Multilateral .. .. .. 0 0 129 14 5 12 7 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 1 3 20 25 35 12 26 Concessional .. .. .. 0 3 0 0 22 0 0 Private 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 0 Private nonguaranteed .. .. .. 0 0 0 1 2 4 23 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 1 2 4 23 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 91 94 93 57 23 77 43 Public and publicly guaranteed .. .. .. 91 94 86 53 -3 64 59 Official 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 19 Private 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 0 Private 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 -16 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 76 64 53 79 18 63 61 226 GEORGIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 6 37 57 42 43 29 39 Public and publicly guaranteed .. .. .. 6 37 56 41 42 27 37 Official creditors .. .. .. 6 37 56 41 42 27 37 Multilateral .. .. .. 5 8 24 8 8 10 10 Concessional .. .. .. 1 1 2 2 3 3 3 Bilateral .. .. .. 1 29 32 33 34 17 26 Concessional .. .. .. 0 13 15 16 17 17 16 Private 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 0 Private nonguaranteed .. .. .. 0 0 0 1 1 2 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 1 1 2 2 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 1 2 2 3 3 3 NET TRANSFERS ON DEBT .. .. .. 85 56 36 15 -21 48 4 Public and publicly guaranteed .. .. .. 85 56 30 12 -45 37 22 Official 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 3 Private 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 0 Private 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 -18 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 76 63 51 77 15 61 58 DEBT SERVICE (LTDS) .. .. .. 7 40 205 82 86 57 95 Public and publicly guaranteed .. .. .. 7 40 205 80 83 51 70 Official creditors .. .. .. 7 40 204 80 82 51 69 Multilateral .. .. .. 5 8 153 22 14 22 17 Concessional .. .. .. 1 1 2 2 3 3 3 Bilateral .. .. .. 2 32 52 58 69 29 52 Concessional .. .. .. 0 16 15 16 39 17 16 Private 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 0 Private nonguaranteed .. .. .. 0 0 0 2 3 6 25 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 2 3 6 25 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 1 2 2 3 3 3 UNDISBURSED DEBT .. .. .. 105 181 271 332 338 336 328 Official creditors .. .. .. 105 181 271 332 338 336 328 Private creditors .. .. .. 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 15.6 17.0 Deutsche mark .. .. .. 1.4 2.7 3.8 3.7 4.0 .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. .. 0.0 0.0 0.0 0.0 0.2 0.7 1.5 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.3 0.3 0.3 0.2 0.2 0.2 0.2 U.S.dollars .. .. .. 77.0 79.2 78.9 82.2 82.3 83.2 80.5 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 0.0 0.0 0.1 0.1 0.2 0.2 0.3 All other currencies .. .. .. 21.3 17.8 16.9 13.7 13.1 0.1 0.6 227 GEORGIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 634 167 0 0 0 34 48 Debt stock rescheduled .. .. .. 394 96 0 0 0 0 0 Principal rescheduled .. .. .. 199 35 0 0 0 34 48 Official .. .. .. 199 35 0 0 0 34 48 Private .. .. .. 0 0 0 0 0 0 0 Interest rescheduled .. .. .. 26 17 0 0 0 0 0 Official .. .. .. 26 5 0 0 0 0 0 Private .. .. .. 0 11 0 0 0 0 0 Debt forgiven .. .. .. 46 4 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 1.2 0.7 4.1 0.6 1.2 0.8 0.8 Maturity (years) .. .. .. 35.0 34.3 23.0 35.2 31.0 39.6 39.4 Grace period (years) .. .. .. 10.6 9.6 8.9 10.2 8.7 10.0 9.9 Grant element (%) .. .. .. 75.3 78.4 45.3 80.5 71.1 80.3 80.1 Official creditors Interest (%) .. .. .. 1.2 0.7 4.1 0.6 1.2 0.8 0.8 Maturity (years) .. .. .. 35.0 34.3 23.0 35.2 31.0 39.6 39.4 Grace period (years) .. .. .. 10.6 9.6 8.9 10.2 8.7 10.0 9.9 Grant element (%) .. .. .. 75.3 78.4 45.3 80.5 71.1 80.3 80.1 Private creditors Interest (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 158 181 312 156 64 104 55 Official creditors .. .. .. 158 181 312 156 64 104 55 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 74 61 48 39 33 25 18 12 9 4 Principal 64 69 70 64 61 48 67 69 71 55 Interest 23 22 20 18 16 14 13 12 10 9 Official creditors Disbursements 74 61 48 39 33 25 18 12 9 4 Principal 59 61 64 56 54 44 64 66 64 51 Interest 21 20 18 16 15 13 12 11 10 9 Bilateral creditors Disbursements 28 26 16 9 5 2 1 0 0 0 Principal 49 51 53 43 40 28 26 28 27 13 Interest 16 14 12 11 9 8 7 6 5 4 Multilateral creditors Disbursements 46 35 32 29 28 22 17 12 9 4 Principal 10 10 11 13 15 16 37 38 38 39 Interest 6 6 6 6 6 6 6 5 5 5 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 5 8 6 8 6 4 4 3 6 4 Interest 2 2 2 1 1 1 1 1 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 5 8 6 8 6 4 4 3 6 4 Interest 2 2 2 1 1 1 1 1 0 0 228 GHANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 571 1,402 3,837 6,402 6,313 6,933 6,979 6,625 6,734 7,338 Long-term debt (LDOD) 520 1,166 2,772 5,206 5,289 5,878 5,951 5,744 5,896 6,382 Public and publicly guaranteed 510 1,156 2,739 4,935 5,022 5,615 5,691 5,487 5,641 6,129 Private nonguaranteed 10 10 33 271 267 263 260 257 255 253 Use of IMF credit 46 105 745 543 347 334 310 293 284 363 Short-term debt 5 131 320 654 677 722 718 588 555 593 of 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 16 Memo: 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 41 Memo: export credits 0 0 411 735 883 161 162 141 192 291 TOTAL DEBT FLOWS Disbursements 44 249 503 940 649 713 457 429 641 316 Long-term debt 42 220 438 900 649 602 396 394 574 248 IMF purchases 2 29 65 40 0 112 61 35 67 68 Principal repayments 39 106 260 329 395 386 344 309 216 116 Long-term debt 14 77 144 204 230 248 268 272 150 111 IMF repurchases 25 29 116 125 166 139 76 37 65 5 Net flows on debt 5 75 341 660 275 369 105 -16 400 235 of which short-term debt 0 -68 98 49 21 42 -8 -136 -25 34 Interest payments (INT) 12 53 106 151 160 192 175 155 98 95 Long-term debt 12 31 57 108 126 152 136 116 70 76 IMF charges 0 4 37 7 5 2 2 1 1 2 Short-term debt 0 18 12 36 29 38 38 38 27 17 Net transfers on debt -7 22 235 509 115 176 -70 -171 302 140 Total debt service paid (TDS) 51 159 367 480 555 579 519 465 314 211 Long-term debt 26 108 201 312 355 400 404 388 220 187 IMF repurchases and charges 25 33 153 133 171 141 77 39 67 6 Short-term debt (interest only) 0 18 12 36 29 38 38 38 27 17 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 101 181 758 1,032 665 762 629 514 819 515 Net flow of long-term debt (ex. IMF) 28 143 294 696 419 354 128 122 423 137 Foreign direct investment (net) 68 16 15 120 83 167 244 166 89 50 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 5 22 449 216 163 240 257 227 306 328 Memo: 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 89 135 693 913 527 596 478 382 731 374 Interest on long-term debt 12 31 57 108 126 152 136 116 70 76 Profit remittances on FDI 0 15 7 12 13 14 16 16 18 65 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,170 4,426 5,774 6,782 6,750 7,322 7,547 4,831 5,201 6,030 Exports of goods, serv. & inc. (XGS) .. 1,214 996 1,778 1,708 2,588 2,519 2,489 2,461 2,628 Worker remit. & comp. of employees 0 1 6 28 26 30 31 32 46 44 Imports of goods & services (MGS) .. 1,264 1,624 2,557 2,791 3,814 4,073 3,474 3,699 3,516 International reserves (RES) 43 330 309 930 618 457 535 309 376 636 Current account balance .. 30 -223 -325 -550 -522 -964 -386 -325 -31 4. DEBT INDICATORS EDT / XGS (%) .. 115.5 385.3 360.1 369.7 267.9 277.1 266.2 273.6 279.2 EDT / GNI (%) 26.3 31.7 66.5 94.4 93.5 94.7 92.5 137.1 129.5 121.7 TDS / XGS (%) .. 13.1 36.8 27.0 32.5 22.4 20.6 18.7 12.8 8.0 INT / XGS (%) .. 4.4 10.7 8.5 9.4 7.4 7.0 6.2 4.0 3.6 INT / GNI (%) 0.6 1.2 1.8 2.2 2.4 2.6 2.3 3.2 1.9 1.6 RES / EDT (%) 7.5 23.5 8.1 14.5 9.8 6.6 7.7 4.7 5.6 8.7 RES / MGS (months) .. 3.1 2.3 4.4 2.7 1.4 1.6 1.1 1.2 2.2 Short-term / EDT (%) 0.9 9.3 8.3 10.2 10.7 10.4 10.3 8.9 8.2 8.1 Concessional / EDT (%) 43.1 55.3 54.1 61.9 64.0 66.1 68.5 71.2 68.8 70.5 Multilateral / EDT (%) 9.3 19.9 48.1 49.0 50.6 51.4 52.8 55.3 55.3 55.7 229 GHANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 520 1,166 2,772 5,206 5,289 5,878 5,951 5,744 5,896 6,382 Public and publicly guaranteed 510 1,156 2,739 4,935 5,022 5,615 5,691 5,487 5,641 6,129 Official 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 1,203 Private 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 166 121 214 323 401 485 448 385 375 338 Private 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 3 Memo: 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 DISBURSEMENTS 42 220 438 900 649 602 396 394 574 248 Public and publicly guaranteed 42 220 430 650 649 602 396 394 574 248 Official creditors 39 220 379 516 441 438 329 349 362 227 Multilateral 4 50 274 298 291 293 254 223 261 158 Concessional 4 21 214 285 288 291 250 222 258 155 Bilateral 35 170 105 217 150 145 75 126 101 69 Concessional 35 93 95 107 116 125 66 97 66 36 Private creditors 3 0 51 134 208 164 67 45 212 21 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 9 72 25 25 12 24 92 21 Other private 3 0 42 62 183 139 54 21 119 0 Private nonguaranteed 0 0 8 250 0 0 0 0 0 0 Bonds 0 0 0 250 0 0 0 0 0 0 Commercial banks and other 0 0 8 0 0 0 0 0 0 0 Memo: IBRD 0 25 0 0 0 0 0 0 0 0 IDA 4 5 201 244 237 261 218 204 193 99 PRINCIPAL REPAYMENTS 14 77 144 204 230 248 268 272 150 111 Public and publicly guaranteed 14 77 136 198 226 244 265 269 148 109 Official creditors 9 35 64 99 106 137 150 169 93 67 Multilateral 2 4 29 55 52 53 61 68 65 45 Concessional 0 0 6 18 20 26 32 35 45 21 Bilateral 8 31 35 43 54 84 89 101 28 22 Concessional 7 14 33 36 31 55 64 72 17 17 Private creditors 5 42 71 99 120 106 115 100 55 42 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 22 17 19 38 40 43 33 20 6 Other private 5 20 54 80 81 66 72 67 35 36 Private nonguaranteed 0 0 8 6 4 4 3 3 2 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 8 6 4 4 3 3 2 2 Memo: IBRD 2 3 10 10 11 4 8 8 3 1 IDA 0 0 2 10 12 16 20 25 34 10 NET FLOWS ON DEBT 28 143 294 696 419 354 128 122 423 137 Public and publicly guaranteed 28 143 294 452 423 358 131 125 425 139 Official 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 20 Private 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 -36 Private 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 -2 Memo: IBRD -1 21 -10 -10 -11 -4 -8 -8 -3 -1 IDA 4 5 199 234 225 245 199 179 159 89 230 GHANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 12 31 57 108 126 152 136 116 70 76 Public and publicly guaranteed 12 31 55 106 111 137 122 102 55 62 Official creditors 7 24 43 77 78 89 79 74 42 45 Multilateral 3 10 30 43 40 38 39 39 33 37 Concessional 0 1 10 21 21 23 25 26 27 25 Bilateral 4 14 14 34 37 51 40 35 9 8 Concessional 3 10 11 29 21 40 32 24 6 7 Private creditors 5 7 12 30 33 48 42 28 14 17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 2 7 11 15 13 6 4 3 Other private 5 4 10 22 22 33 29 22 9 14 Private nonguaranteed 0 0 2 1 15 15 14 14 14 14 Bonds 0 0 0 0 14 14 14 14 14 14 Commercial banks and other 0 0 2 1 1 1 1 1 0 0 Memo: IBRD 3 8 9 3 4 1 2 1 1 0 IDA 0 0 8 18 19 20 21 22 25 20 NET TRANSFERS ON DEBT 16 112 237 588 294 202 -8 6 354 61 Public and publicly guaranteed 16 112 239 346 312 221 10 23 370 77 Official 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 13 Private 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 -50 Private 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 -2 Memo: IBRD -4 13 -20 -13 -15 -6 -10 -9 -4 -2 IDA 4 4 191 216 207 225 178 157 134 69 DEBT SERVICE (LTDS) 26 108 201 312 355 400 404 388 220 187 Public and publicly guaranteed 26 108 191 304 336 381 387 371 204 171 Official creditors 16 59 108 175 184 226 229 243 135 112 Multilateral 4 14 59 98 92 91 100 106 98 82 Concessional 0 1 17 39 42 49 57 61 72 46 Bilateral 12 45 49 77 91 135 129 136 37 30 Concessional 11 24 45 65 52 95 96 96 23 23 Private creditors 10 48 83 129 153 155 157 128 69 59 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 24 18 27 49 55 56 39 24 9 Other private 10 25 65 103 103 99 101 89 45 50 Private nonguaranteed 0 0 10 7 19 19 17 17 16 16 Bonds 0 0 0 0 14 14 14 14 14 14 Commercial banks and other 0 0 10 7 5 5 4 4 2 2 Memo: IBRD 4 11 20 13 15 6 10 9 4 2 IDA 0 1 10 28 30 36 41 47 59 30 UNDISBURSED DEBT 76 431 1,705 1,980 1,552 1,256 1,325 1,281 1,274 1,037 Official creditors 76 431 1,591 1,696 1,366 1,159 1,139 945 1,090 901 Private creditors 0 0 113 284 186 97 186 336 184 136 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 7.2 7.2 Deutsche mark 12.3 12.9 4.0 4.3 4.1 3.8 3.1 2.8 .. .. French franc 2.7 1.9 2.3 3.0 2.5 2.4 1.7 1.3 .. .. Japanese yen 0.0 0.1 5.2 11.6 11.2 13.3 15.5 15.0 13.1 12.6 Pound sterling 28.3 11.8 2.9 7.4 7.0 5.9 5.0 3.7 2.8 2.2 Swiss franc 0.0 0.0 0.7 0.3 0.2 0.2 0.1 0.1 0.1 0.1 U.S.dollars 22.5 38.6 59.6 56.4 58.7 59.4 60.9 64.0 66.4 67.2 Multiple currency 8.4 10.7 8.0 5.7 5.9 5.7 5.5 5.4 5.0 4.8 Special drawing rights 0.0 0.0 0.6 0.8 0.7 0.7 0.7 0.8 0.8 0.9 All other currencies 25.8 23.9 16.9 10.5 9.6 8.5 7.4 6.9 4.6 4.9 231 GHANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 99 0 0 0 0 199 74 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 47 0 0 0 0 143 54 Official .. .. 0 38 0 0 0 0 101 47 Private .. .. 0 9 0 0 0 0 42 7 Interest rescheduled .. .. 0 21 0 0 0 0 52 21 Official .. .. 0 20 0 0 0 0 40 19 Private .. .. 0 2 0 0 0 0 13 2 Debt forgiven .. .. 102 7 7 0 0 0 0 140 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 27 Debt stock reduction .. .. 0 0 0 12 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.0 1.4 3.0 2.9 2.5 4.0 2.5 3.7 1.5 0.8 Maturity (years) 36.7 44.1 32.1 25.3 28.6 28.0 29.1 23.0 39.3 44.8 Grace period (years) 9.7 9.7 8.4 6.6 7.3 6.9 7.6 5.9 10.8 9.3 Grant element (%) 66.8 74.4 58.2 50.8 54.7 45.6 57.3 43.6 73.9 76.7 Official creditors Interest (%) 1.8 1.4 2.0 2.1 1.4 2.5 2.6 1.4 0.8 0.8 Maturity (years) 38.6 44.1 35.9 29.4 38.8 35.7 30.5 34.7 41.1 45.5 Grace period (years) 10.2 9.7 9.4 7.9 10.1 8.8 8.1 8.9 11.9 9.4 Grant element (%) 70.2 74.4 67.8 60.1 73.2 60.8 59.9 69.8 81.3 77.4 Private creditors Interest (%) 5.3 0.0 8.1 5.9 4.6 7.0 2.1 6.2 7.0 2.2 Maturity (years) 8.4 0.0 11.4 10.5 8.3 12.5 25.7 10.1 25.6 19.9 Grace period (years) 1.4 0.0 2.9 2.1 1.9 3.1 6.5 2.7 2.2 6.2 Grant element (%) 16.3 0.0 6.2 16.9 17.9 14.6 50.9 14.6 18.6 54.2 Memorandum items Commitments 51 170 679 710 380 342 527 453 649 51 Official creditors 48 170 573 556 253 229 376 238 573 49 Private creditors 3 0 106 153 127 113 151 215 76 1 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 300 206 147 106 88 65 50 27 22 11 Principal 591 324 309 283 234 222 218 218 218 227 Interest 117 101 90 80 72 66 61 57 53 49 Official creditors Disbursements 227 165 131 101 88 65 50 27 22 11 Principal 222 223 232 222 185 192 194 198 199 210 Interest 82 78 73 67 62 59 55 52 49 46 Bilateral creditors Disbursements 33 19 10 5 2 1 1 0 0 0 Principal 137 133 136 119 77 79 76 77 68 68 Interest 41 38 33 28 25 23 21 19 17 15 Multilateral creditors Disbursements 194 146 120 97 85 64 49 27 22 11 Principal 86 89 96 103 108 114 118 122 131 142 Interest 41 41 40 38 37 36 34 33 32 31 Private creditors Disbursements 73 41 17 5 0 0 0 0 0 0 Principal 369 101 76 61 49 30 24 19 19 17 Interest 35 22 17 13 10 7 6 5 4 4 Commercial banks Disbursements 61 34 14 4 0 0 0 0 0 0 Principal 35 26 23 21 19 20 19 16 16 14 Interest 9 9 8 7 6 5 4 4 3 3 Other private Disbursements 12 8 3 1 0 0 0 0 0 0 Principal 334 75 54 40 29 10 5 4 3 3 Interest 26 14 9 6 4 2 1 1 1 1 232 GRENADA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 14.9 19.6 110.8 140.9 123.1 178.5 142.9 178.7 215.0 339.3 Long-term debt (LDOD) 14.9 15.8 97.9 120.0 115.2 114.4 119.3 158.5 160.6 268.7 Public and publicly guaranteed 14.9 15.8 97.9 120.0 115.2 114.4 119.3 158.5 160.6 268.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 2.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 1.0 12.9 20.8 8.0 64.1 23.7 20.3 54.3 70.6 of which interest arrears on LDOD 0.0 0.0 6.9 7.1 1.0 1.6 2.5 3.2 3.4 3.6 Official creditors 0.0 0.0 6.5 6.9 1.0 1.6 2.5 1.6 2.9 2.8 Private creditors 0.0 0.0 0.3 0.3 0.0 0.0 0.1 1.6 0.5 0.7 Memo: principal arrears on LDOD 0.0 0.0 17.0 22.0 7.7 8.0 10.2 10.8 8.5 7.5 Official creditors 0.0 0.0 15.4 21.0 7.3 7.6 9.0 7.6 7.7 7.5 Private creditors 0.0 0.0 1.5 1.0 0.4 0.4 1.2 3.2 0.8 0.0 Memo: export credits 0.0 0.0 23.0 4.2 22.4 11.6 10.5 8.3 5.9 5.9 TOTAL DEBT FLOWS Disbursements 5.8 1.7 14.8 9.6 14.6 6.2 13.9 51.0 20.7 113.0 Long-term debt 5.8 1.0 14.8 9.6 14.6 6.2 13.9 51.0 20.7 113.0 IMF purchases 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.0 1.6 1.7 5.2 5.2 7.8 7.5 9.4 10.4 12.2 Long-term debt 0.0 0.9 1.3 5.2 5.2 7.8 7.5 9.4 10.4 12.2 IMF repurchases 0.0 0.7 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt 5.8 -0.9 13.1 10.1 2.8 53.9 -35.0 37.5 44.2 116.9 of which short-term debt 0.0 -1.0 0.0 5.7 -6.7 55.5 -41.4 -4.1 33.9 16.1 Interest payments (INT) 0.3 0.8 1.6 3.0 2.3 3.8 4.5 4.5 6.1 13.4 Long-term debt 0.3 0.5 1.2 2.2 1.8 2.1 2.2 3.6 4.8 12.3 IMF charges 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 0.2 0.4 0.8 0.5 1.7 2.3 1.0 1.2 1.1 Net transfers on debt 5.6 -1.7 11.5 7.0 0.5 50.1 -39.5 33.0 38.1 103.5 Total debt service paid (TDS) 0.3 2.3 3.3 8.2 7.4 11.7 12.0 13.9 16.5 25.6 Long-term debt 0.3 1.3 2.4 7.4 7.0 9.9 9.7 12.9 15.2 24.6 IMF repurchases and charges 0.0 0.8 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) 0.0 0.2 0.4 0.8 0.5 1.7 2.3 1.0 1.2 1.1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5.8 1.1 30.7 25.8 47.1 51.1 49.9 86.0 62.8 144.4 Net flow of long-term debt (ex. IMF) 5.8 0.1 13.5 4.4 9.5 -1.6 6.4 41.6 10.3 100.8 Foreign direct investment (net) 0.0 0.0 12.9 17.0 33.5 48.7 41.6 37.4 48.8 41.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 0.0 1.0 4.2 4.4 4.1 4.0 1.9 7.1 3.7 2.6 Memo: 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 26.4 107.0 Interest on long-term debt 0.3 0.5 1.2 2.2 1.8 2.1 2.2 3.6 4.8 12.3 Profit remittances on FDI 0.0 0.2 8.4 14.1 15.6 19.8 20.9 27.8 31.6 25.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 208.9 279.6 288.7 317.7 352.1 372.3 371.9 375.0 Exports of goods, serv. & inc. (XGS) .. 39.1 105.5 136.4 143.6 169.9 222.3 241.6 200.9 188.2 Worker remit. & comp. of employees 0.0 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. 63.1 153.2 213.3 233.0 279.3 294.0 343.5 307.6 329.4 International reserves (RES) 5.3 12.9 17.6 35.7 42.7 46.8 50.8 57.7 63.9 87.8 Current 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 74.0 107.0 180.3 EDT / GNI (%) .. .. 53.0 50.4 42.7 56.2 40.6 48.0 57.8 90.5 TDS / XGS (%) .. 6.0 3.1 6.0 5.2 6.9 5.4 5.8 8.2 13.6 INT / XGS (%) .. 2.0 1.5 2.2 1.6 2.3 2.0 1.9 3.0 7.1 INT / GNI (%) .. .. 0.7 1.1 0.8 1.2 1.3 1.2 1.6 3.6 RES / EDT (%) 35.6 65.8 15.9 25.4 34.6 26.2 35.6 32.3 29.7 25.9 RES / MGS (months) .. 2.5 1.4 2.0 2.2 2.0 2.1 2.0 2.5 3.2 Short-term / EDT (%) 0.0 5.1 11.6 14.8 6.5 35.9 16.6 11.3 25.3 20.8 Concessional / EDT (%) 31.8 60.6 61.0 58.0 67.3 46.0 60.4 52.6 46.3 31.4 Multilateral / EDT (%) 0.0 29.2 35.7 36.9 43.0 29.8 39.1 35.6 30.7 22.4 233 GRENADA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 14.9 15.8 97.9 120.0 115.2 114.4 119.3 158.5 160.6 268.7 Public and publicly guaranteed 14.9 15.8 97.9 120.0 115.2 114.4 119.3 158.5 160.6 268.7 Official creditors 5.0 13.3 95.0 112.5 108.9 107.7 112.0 123.0 129.7 137.1 Multilateral 0.0 5.7 39.5 51.9 52.9 53.1 55.8 63.7 65.9 75.9 Concessional 0.0 4.7 36.6 45.7 46.5 46.6 48.9 53.2 52.4 60.2 Bilateral 5.0 7.5 55.4 60.6 56.0 54.6 56.2 59.4 63.8 61.2 Concessional 4.8 7.2 31.0 36.1 36.4 35.6 37.3 40.9 47.2 46.3 Private creditors 10.0 2.6 2.9 7.5 6.3 6.7 7.3 35.4 30.9 131.6 Bonds 10.0 2.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.7 0.3 0.3 0.3 2.7 31.2 28.2 126.7 Other private 0.0 0.5 2.2 7.2 6.0 6.4 4.5 4.2 2.7 4.8 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.4 2.2 3.4 4.2 IDA 0.0 0.0 5.5 7.2 7.1 8.2 9.3 9.6 9.2 16.2 DISBURSEMENTS 5.8 1.0 14.8 9.6 14.6 6.2 13.9 51.0 20.7 113.0 Public and publicly guaranteed 5.8 1.0 14.8 9.6 14.6 6.2 13.9 51.0 20.7 113.0 Official creditors 0.3 1.0 14.3 9.6 14.6 3.8 11.4 19.8 20.7 12.2 Multilateral 0.0 1.0 2.9 4.4 4.2 2.7 6.0 11.7 6.1 12.0 Concessional 0.0 0.0 2.9 2.0 3.4 2.1 4.7 7.0 2.2 9.1 Bilateral 0.3 0.0 11.4 5.2 10.5 1.1 5.5 8.1 14.6 0.1 Concessional 0.1 0.0 1.2 3.9 2.5 0.9 4.4 7.2 14.4 0.1 Private creditors 5.6 0.0 0.5 0.0 0.0 2.5 2.5 31.2 0.0 100.8 Bonds 5.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 0.0 2.5 30.0 0.0 100.8 Other private 0.0 0.0 0.5 0.0 0.0 2.5 0.0 1.2 0.0 0.0 Private 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 0.0 Memo: 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 0.3 0.3 0.9 1.4 0.8 0.1 6.1 PRINCIPAL REPAYMENTS 0.0 0.9 1.3 5.2 5.2 7.8 7.5 9.4 10.4 12.2 Public and publicly guaranteed 0.0 0.9 1.3 5.2 5.2 7.8 7.5 9.4 10.4 12.2 Official creditors 0.0 0.3 1.1 4.4 4.6 5.7 5.8 6.5 6.3 7.9 Multilateral 0.0 0.0 1.0 2.4 2.4 2.9 2.9 3.2 3.0 3.4 Concessional 0.0 0.0 0.8 2.0 2.0 2.3 2.1 2.1 2.1 2.6 Bilateral 0.0 0.3 0.1 2.0 2.2 2.8 2.9 3.3 3.3 4.5 Concessional 0.0 0.2 0.0 1.2 1.3 2.0 1.7 2.1 1.4 2.6 Private creditors 0.0 0.6 0.2 0.8 0.5 2.1 1.7 2.9 4.1 4.3 Bonds 0.0 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 0.0 1.5 3.0 2.3 Other private 0.0 0.0 0.1 0.7 0.5 2.1 1.7 1.3 1.1 2.1 Private 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 0.0 Memo: 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 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 NET FLOWS ON DEBT 5.8 0.1 13.5 4.4 9.5 -1.6 6.4 41.6 10.3 100.8 Public and publicly guaranteed 5.8 0.1 13.5 4.4 9.5 -1.6 6.4 41.6 10.3 100.8 Official 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 -2.5 Private 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 -2.1 Private 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 0.0 Memo: 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 6.0 234 GRENADA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.3 0.5 1.2 2.2 1.8 2.1 2.2 3.6 4.8 12.3 Public and publicly guaranteed 0.3 0.5 1.2 2.2 1.8 2.1 2.2 3.6 4.8 12.3 Official creditors 0.0 0.3 1.0 2.2 1.8 2.1 2.1 2.4 2.7 4.9 Multilateral 0.0 0.2 1.0 1.4 1.2 1.5 1.6 1.2 1.7 2.0 Concessional 0.0 0.2 1.0 1.1 1.2 1.2 1.3 0.8 1.0 1.2 Bilateral 0.0 0.1 0.0 0.8 0.5 0.6 0.5 1.3 1.0 2.9 Concessional 0.0 0.0 0.0 0.2 0.2 0.4 0.1 0.6 0.5 2.2 Private creditors 0.3 0.2 0.2 0.0 0.0 0.0 0.1 1.1 2.1 7.5 Bonds 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.2 0.0 0.0 0.0 0.0 1.1 2.0 7.4 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 IDA 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.1 0.1 NET TRANSFERS ON DEBT 5.6 -0.3 12.4 2.2 7.7 -3.7 4.2 38.0 5.4 88.4 Public and publicly guaranteed 5.6 -0.3 12.4 2.2 7.7 -3.7 4.2 38.0 5.4 88.4 Official 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 -4.7 Private 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 -2.2 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.3 1.3 2.4 7.4 7.0 9.9 9.7 12.9 15.2 24.6 Public and publicly guaranteed 0.3 1.3 2.4 7.4 7.0 9.9 9.7 12.9 15.2 24.6 Official creditors 0.0 0.6 2.1 6.6 6.4 7.8 7.9 8.9 9.0 12.8 Multilateral 0.0 0.2 2.0 3.8 3.7 4.4 4.6 4.4 4.7 5.3 Concessional 0.0 0.2 1.8 3.1 3.2 3.5 3.4 2.9 3.1 3.8 Bilateral 0.0 0.4 0.1 2.8 2.7 3.4 3.3 4.6 4.3 7.4 Concessional 0.0 0.2 0.0 1.5 1.4 2.3 1.8 2.7 1.9 4.9 Private creditors 0.3 0.7 0.3 0.8 0.6 2.1 1.8 4.0 6.2 11.8 Bonds 0.3 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 0.0 2.7 5.0 9.7 Other private 0.0 0.0 0.1 0.7 0.5 2.1 1.8 1.3 1.2 2.2 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 IDA 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.1 0.1 UNDISBURSED DEBT 2.0 7.3 24.5 29.7 26.7 43.6 30.7 45.8 33.4 52.9 Official creditors 2.0 7.3 24.5 29.7 23.0 40.3 29.6 45.8 31.1 51.5 Private creditors 0.0 0.0 0.0 0.0 3.7 3.3 1.2 0.0 2.3 1.4 Memorandum items Concessional LDOD 4.8 11.9 67.6 81.8 82.8 82.2 86.3 94.1 99.6 106.5 Variable rate LDOD 0.0 0.0 13.4 11.5 0.3 0.3 3.1 4.7 5.3 6.3 Public sector LDOD 14.9 15.8 97.9 120.0 115.2 114.4 119.3 158.5 160.6 268.7 Private sector LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.7 0.9 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 0.0 0.0 0.0 1.9 1.8 1.9 1.5 0.9 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 100.0 56.1 34.5 34.0 24.0 21.3 17.6 10.8 5.6 4.4 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 0.0 39.4 57.3 56.6 65.6 67.7 68.6 72.1 74.9 84.0 Multiple currency 0.0 0.0 0.0 0.0 0.0 0.1 0.5 2.3 3.6 2.6 Special drawing rights 0.0 0.0 2.8 1.4 1.9 2.0 2.1 2.2 1.8 1.1 All other currencies 0.0 4.5 5.5 6.1 6.8 7.1 9.6 11.7 12.4 7.0 235 GRENADA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.4 1.6 4.6 4.3 4.9 4.7 6.9 4.4 1.9 3.1 Maturity (years) 12.7 14.3 15.3 22.3 13.2 21.1 5.7 18.4 19.0 13.3 Grace period (years) 12.7 4.6 2.4 6.1 0.5 5.6 1.2 4.0 3.0 9.3 Grant element (%) 17.0 43.8 28.5 42.1 22.4 34.8 8.1 33.5 46.4 44.2 Official creditors Interest (%) 0.0 1.6 4.6 4.3 4.7 4.7 0.0 3.9 0.9 3.3 Maturity (years) 29.5 14.3 15.3 22.3 14.4 21.1 0.0 23.5 23.6 24.1 Grace period (years) 29.5 4.6 2.4 6.1 0.3 5.6 0.0 6.9 3.6 7.2 Grant element (%) 94.0 43.8 28.5 42.1 24.3 34.8 0.0 44.5 57.9 48.8 Private creditors Interest (%) 7.5 0.0 0.0 0.0 5.3 0.0 6.9 5.0 5.0 3.0 Maturity (years) 12.5 0.0 0.0 0.0 10.5 0.0 5.7 12.0 5.6 9.9 Grace period (years) 12.5 0.0 0.0 0.0 1.0 0.0 1.2 0.3 1.1 9.9 Grant element (%) 16.1 0.0 0.0 0.0 18.2 0.0 8.1 19.8 13.1 42.8 Memorandum items Commitments 6 7 16 9 12 21 2 67 9 131 Official creditors 0 7 16 9 8 21 0 37 7 31 Private creditors 6 0 0 0 4 0 2 30 2 100 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 113.0 11.1 12.8 9.4 6.7 4.8 3.3 2.0 1.2 1.0 Principal 12.2 19.7 13.8 12.8 12.4 12.6 12.6 11.9 11.5 11.2 Interest 12.3 8.5 8.3 8.1 7.8 7.5 7.1 6.7 6.3 5.9 Official creditors Disbursements 12.2 10.4 12.3 9.3 6.6 4.8 3.3 2.0 1.2 1.0 Principal 7.9 14.5 8.6 8.6 8.9 9.2 9.8 9.2 8.8 8.5 Interest 4.9 4.2 4.1 4.1 4.0 3.8 3.6 3.3 3.0 2.7 Bilateral creditors Disbursements 0.1 1.1 1.2 0.7 0.4 0.2 0.1 0.1 0.0 0.0 Principal 4.5 9.1 3.5 3.8 3.9 3.9 4.0 3.7 3.5 3.3 Interest 2.9 1.8 1.5 1.5 1.3 1.2 1.1 1.0 0.8 0.7 Multilateral creditors Disbursements 12.0 9.4 11.1 8.6 6.1 4.5 3.1 2.0 1.2 1.0 Principal 3.4 5.4 5.1 4.9 5.0 5.3 5.8 5.5 5.4 5.2 Interest 2.0 2.4 2.5 2.6 2.6 2.6 2.5 2.4 2.2 2.0 Private creditors Disbursements 100.8 0.7 0.5 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Principal 4.3 5.2 5.2 4.1 3.5 3.3 2.9 2.7 2.7 2.7 Interest 7.5 4.4 4.2 4.0 3.9 3.7 3.5 3.4 3.3 3.1 Commercial banks Disbursements 100.8 0.7 0.5 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Principal 2.3 3.6 3.6 3.4 3.1 3.0 2.7 2.7 2.7 2.7 Interest 7.4 4.3 4.1 4.0 3.8 3.7 3.5 3.4 3.3 3.1 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 2.1 1.6 1.6 0.8 0.4 0.4 0.2 0.0 0.0 0.0 Interest 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 236 GUATEMALA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 159 1,180 3,080 3,772 3,876 4,074 4,209 4,265 4,528 4,676 Long-term debt (LDOD) 120 845 2,605 2,876 2,975 3,174 3,300 3,323 3,579 3,744 Public and publicly guaranteed 106 563 2,478 2,755 2,872 2,992 3,138 3,182 3,458 3,641 Private nonguaranteed 14 282 127 121 103 182 162 142 121 102 Use of IMF credit 0 0 67 0 0 0 0 0 0 0 Short-term debt 39 335 409 896 901 900 910 942 949 932 of 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 61 Memo: 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 0 206 335 349 349 349 354 352 349 Memo: export credits 0 0 545 353 526 331 265 256 150 168 TOTAL DEBT FLOWS Disbursements 43 173 165 158 361 268 334 239 204 337 Long-term debt 43 173 165 158 361 268 334 239 204 337 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 30 78 102 194 201 195 197 196 216 220 Long-term debt 22 78 90 194 201 195 197 196 216 220 IMF repurchases 8 0 12 0 0 0 0 0 0 0 Net flows on debt 13 130 67 167 170 80 146 77 -2 97 of which short-term debt 0 34 4 203 10 7 9 34 10 -20 Interest payments (INT) 7 67 111 160 152 183 191 212 220 192 Long-term debt 7 60 88 120 106 137 141 162 172 157 IMF charges 0 0 7 0 0 0 0 0 0 0 Short-term debt 0 8 16 41 46 46 50 50 49 34 Net transfers on debt 6 62 -45 6 18 -103 -45 -135 -223 -95 Total debt service paid (TDS) 37 145 214 354 353 378 388 408 436 412 Long-term debt 29 137 179 314 307 332 338 358 388 378 IMF repurchases and charges 8 0 19 0 0 0 0 0 0 0 Short-term debt (interest only) 0 8 16 41 46 46 50 50 49 34 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 53 221 191 158 400 898 478 418 577 380 Net flow of long-term debt (ex. IMF) 21 96 75 -36 160 73 137 43 -12 117 Foreign direct investment (net) 29 111 48 77 84 673 155 230 456 110 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 2 14 69 117 156 152 187 146 134 152 Memo: 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 -34 Interest on long-term debt 7 60 88 120 106 137 141 162 172 157 Profit remittances on FDI 0 44 37 130 164 130 150 248 205 257 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,866 7,834 7,494 15,569 17,540 19,239 18,125 19,087 20,868 23,000 Exports of goods, serv. & inc. (XGS) .. 1,834 1,695 3,212 3,672 4,035 4,022 4,640 4,814 5,499 Worker remit. & comp. of employees 0 26 119 375 408 457 466 596 634 1,600 Imports of goods & services (MGS) .. 2,107 2,028 3,810 4,504 5,323 5,297 5,991 6,472 7,071 International reserves (RES) 79 753 362 948 1,173 1,397 1,252 1,806 2,352 2,373 Current account balance .. -163 -213 -452 -634 -1,039 -1,026 -1,050 -1,253 -1,193 4. DEBT INDICATORS EDT / XGS (%) .. 64.3 181.7 117.5 105.5 101.0 104.7 91.9 94.0 85.0 EDT / GNI (%) 8.5 15.1 41.1 24.2 22.1 21.2 23.2 22.3 21.7 20.3 TDS / XGS (%) .. 7.9 12.6 11.0 9.6 9.4 9.6 8.8 9.1 7.5 INT / XGS (%) .. 3.7 6.6 5.0 4.1 4.5 4.7 4.6 4.6 3.5 INT / GNI (%) 0.4 0.9 1.5 1.0 0.9 1.0 1.1 1.1 1.1 0.8 RES / EDT (%) 49.9 63.8 11.7 25.1 30.3 34.3 29.7 42.3 52.0 50.8 RES / MGS (months) .. 4.3 2.1 3.0 3.1 3.1 2.8 3.6 4.4 4.0 Short-term / EDT (%) 24.5 28.4 13.3 23.7 23.2 22.1 21.6 22.1 21.0 19.9 Concessional / EDT (%) 21.2 21.1 22.5 33.7 33.2 32.5 31.7 31.7 32.1 31.0 Multilateral / EDT (%) 20.7 30.9 33.7 27.7 27.7 29.9 34.1 35.6 38.3 41.9 237 GUATEMALA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 120 845 2,605 2,876 2,975 3,174 3,300 3,323 3,579 3,744 Public and publicly guaranteed 106 563 2,478 2,755 2,872 2,992 3,138 3,182 3,458 3,641 Official 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 1,010 Private 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 1 420 250 245 242 241 239 237 238 Private 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 14 282 127 121 103 182 162 142 121 102 Memo: IBRD 14 144 293 200 188 203 258 296 330 400 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 43 173 165 158 361 268 334 239 204 337 Public and publicly guaranteed 37 141 158 158 361 268 334 239 204 337 Official creditors 12 128 128 157 211 267 333 239 204 337 Multilateral 9 80 68 143 136 202 292 172 188 326 Concessional 5 35 20 24 20 19 38 24 20 16 Bilateral 2 48 59 15 74 65 42 67 15 11 Concessional 2 23 54 6 56 63 41 67 15 11 Private creditors 25 13 30 1 150 1 1 0 0 0 Bonds 0 0 0 0 150 0 0 0 0 0 Commercial banks 25 13 14 0 0 0 0 0 0 0 Other private 0 0 16 1 0 1 1 0 0 0 Private nonguaranteed 6 32 7 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 6 32 7 0 0 0 0 0 0 0 Memo: IBRD 4 39 16 69 16 28 70 51 46 83 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 22 78 90 194 201 195 197 196 216 220 Public and publicly guaranteed 20 15 87 173 183 180 177 176 196 201 Official creditors 5 12 49 122 127 142 143 144 164 171 Multilateral 3 12 28 75 71 74 82 81 102 112 Concessional 0 1 6 16 14 15 15 17 19 20 Bilateral 2 1 21 47 56 68 61 62 61 59 Concessional 2 1 2 30 25 45 47 50 48 50 Private creditors 15 3 39 51 56 38 34 32 32 31 Bonds 8 0 11 33 44 31 31 31 31 31 Commercial banks 6 1 24 14 8 3 2 0 0 0 Other private 1 2 4 4 4 5 1 2 2 0 Private nonguaranteed 2 62 3 21 18 15 20 20 20 19 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 62 3 21 18 15 20 20 20 19 Memo: IBRD 2 4 5 13 12 14 15 13 12 13 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 21 96 75 -36 160 73 137 43 -12 117 Public and publicly guaranteed 17 126 71 -15 178 88 157 63 8 136 Official 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 -38 Private 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 0 Private 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 -19 Memo: IBRD 2 35 11 56 4 14 55 38 35 70 IDA 0 0 0 0 0 0 0 0 0 0 238 GUATEMALA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 7 60 88 120 106 137 141 162 172 157 Public and publicly guaranteed 6 30 78 116 103 126 132 143 164 153 Official creditors 3 29 52 91 88 98 107 121 144 137 Multilateral 2 20 33 58 56 60 73 87 104 105 Concessional 0 3 4 8 7 8 8 9 9 9 Bilateral 1 9 19 33 32 38 34 33 40 32 Concessional 1 3 4 27 25 28 29 29 34 29 Private creditors 4 0 26 25 15 28 25 23 20 16 Bonds 1 0 18 21 13 27 24 22 20 16 Commercial banks 2 0 5 2 1 0 0 0 0 0 Other private 0 0 3 2 1 1 0 0 0 0 Private nonguaranteed 1 30 10 4 4 11 9 19 8 5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 30 10 4 4 11 9 19 8 5 Memo: IBRD 1 11 3 14 14 12 16 21 22 22 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 14 36 -13 -155 53 -63 -4 -119 -184 -40 Public and publicly guaranteed 11 96 -8 -130 75 -38 25 -80 -156 -17 Official 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 -67 Private 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 0 Private 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 -24 Memo: IBRD 1 24 8 42 -10 2 40 17 12 47 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 29 137 179 314 307 332 338 358 388 378 Public and publicly guaranteed 26 45 166 289 285 306 309 319 360 354 Official creditors 7 42 101 213 214 240 250 264 308 308 Multilateral 4 32 61 133 126 133 155 168 207 217 Concessional 0 4 10 24 21 23 23 26 29 29 Bilateral 3 10 40 80 88 106 95 96 101 91 Concessional 3 4 6 57 50 73 76 79 82 79 Private creditors 19 3 64 75 71 66 59 55 52 46 Bonds 10 0 28 54 57 58 55 53 50 46 Commercial banks 8 1 29 16 9 3 3 0 0 0 Other private 1 2 7 6 5 6 1 2 2 0 Private nonguaranteed 3 92 13 25 22 25 29 39 28 24 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 92 13 25 22 25 29 39 28 24 Memo: IBRD 3 15 9 27 26 26 30 34 34 36 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 69 507 802 713 672 840 1,055 895 855 1,173 Official creditors 59 397 741 707 671 839 1,055 895 855 1,165 Private creditors 10 110 61 6 2 1 0 0 0 8 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 3.9 4.1 Deutsche mark 0.0 0.0 1.6 3.1 3.0 3.4 2.9 2.8 .. .. French franc 0.0 0.0 0.7 1.9 1.7 1.7 1.5 1.4 .. .. Japanese yen 0.0 0.0 0.0 1.8 2.4 2.5 2.6 2.3 3.9 4.1 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.4 0.3 0.3 0.2 0.1 0.1 0.1 U.S.dollars 76.2 19.3 56.1 62.0 65.6 73.0 75.6 78.5 79.4 80.4 Multiple currency 23.8 80.6 41.1 30.6 26.9 19.1 17.1 14.8 12.3 11.0 Special drawing rights 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.4 0.4 All other currencies 0.0 0.1 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 239 GUATEMALA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 30 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 8 0 0 0 0 0 0 0 Principal rescheduled .. .. 13 0 0 0 0 0 0 0 Official .. .. 13 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 7 0 0 0 0 0 0 0 Official .. .. 7 0 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.5 7.9 5.9 6.1 7.2 6.2 6.7 7.2 6.8 4.5 Maturity (years) 25.8 15.5 17.8 23.3 15.6 19.2 21.3 19.2 22.5 19.6 Grace period (years) 6.3 3.9 4.7 3.4 6.7 4.5 4.4 4.7 4.3 5.0 Grant element (%) 36.0 10.9 27.2 25.0 17.2 23.9 22.3 17.3 20.8 35.2 Official creditors Interest (%) 3.0 7.3 4.9 6.1 6.5 6.2 6.7 7.2 6.8 4.5 Maturity (years) 39.4 17.7 22.6 23.3 18.6 19.2 21.3 19.2 22.5 19.6 Grace period (years) 10.6 3.5 6.2 3.4 5.0 4.5 4.4 4.7 4.3 5.0 Grant element (%) 61.0 14.3 36.1 25.0 21.3 23.9 22.3 17.3 20.8 35.1 Private creditors Interest (%) 8.5 8.5 8.8 0.0 8.5 0.0 0.0 0.0 0.0 3.5 Maturity (years) 9.7 13.2 4.0 0.0 10.0 0.0 0.0 0.0 0.0 19.5 Grace period (years) 1.2 4.2 0.5 0.0 10.0 0.0 0.0 0.0 0.0 5.0 Grant element (%) 6.6 7.5 1.7 0.0 9.2 0.0 0.0 0.0 0.0 42.4 Memorandum items Commitments 50 247 146 384 441 441 554 87 201 673 Official creditors 27 124 108 384 291 441 554 87 201 665 Private creditors 23 123 38 0 150 0 0 0 0 8 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 370 342 215 117 59 34 19 9 5 3 Principal 347 296 293 296 441 308 297 274 247 222 Interest 161 160 156 147 136 110 96 82 71 61 Official creditors Disbursements 366 339 214 116 59 34 19 9 5 3 Principal 299 281 278 282 278 297 287 265 247 222 Interest 143 144 140 132 121 109 95 82 71 61 Bilateral creditors Disbursements 34 25 15 9 5 3 2 1 1 0 Principal 102 99 101 97 93 83 78 73 69 63 Interest 32 29 26 23 20 17 15 12 10 8 Multilateral creditors Disbursements 332 315 199 107 53 31 17 7 4 3 Principal 196 182 177 185 184 214 208 192 178 159 Interest 111 115 115 110 101 92 81 70 61 53 Private creditors Disbursements 4 3 1 0 0 0 0 0 0 0 Principal 48 16 15 14 163 11 10 9 1 1 Interest 18 16 16 15 14 1 1 0 0 0 Commercial banks Disbursements 4 3 1 0 0 0 0 0 0 0 Principal 0 0 0 0 0 1 1 1 1 1 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 48 16 15 14 163 10 10 9 0 0 Interest 18 16 15 15 14 1 0 0 0 0 240 GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 328 1,133 2,476 3,240 3,519 3,546 3,522 3,388 3,254 3,401 Long-term debt (LDOD) 319 1,019 2,253 2,981 3,009 3,126 3,061 2,940 2,844 2,972 Public and publicly guaranteed 319 1,019 2,253 2,981 3,009 3,126 3,061 2,940 2,844 2,972 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 3 35 51 82 99 127 127 113 123 139 Short-term debt 5 80 172 177 411 293 334 335 287 289 of which interest arrears on LDOD 5 29 55 103 98 99 106 118 111 110 Official creditors 2 23 49 91 88 96 102 114 107 106 Private creditors 3 5 6 11 10 3 4 4 4 4 Memo: principal arrears on LDOD 17 105 190 434 471 467 515 566 552 554 Official creditors 9 89 164 368 407 452 491 537 524 525 Private creditors 7 15 26 66 64 15 24 29 29 29 Memo: export credits 0 0 352 191 152 139 114 109 109 142 TOTAL DEBT FLOWS Disbursements 98 129 196 143 264 180 106 70 122 66 Long-term debt 94 121 196 143 232 148 95 70 95 49 IMF purchases 4 8 0 0 32 32 11 0 26 17 Principal repayments 11 76 110 66 100 104 73 98 68 99 Long-term debt 11 74 96 58 89 94 66 90 60 89 IMF repurchases 0 1 14 8 10 9 7 8 9 10 Net flows on debt 87 22 86 72 403 -43 68 -41 14 -31 of which short-term debt 0 -31 0 -4 238 -120 35 -12 -40 2 Interest payments (INT) 4 33 59 47 55 55 55 57 37 37 Long-term debt 4 23 53 43 45 43 44 41 29 32 IMF charges 0 1 2 0 0 1 1 1 0 1 Short-term debt 0 9 4 3 10 12 11 15 7 3 Net transfers on debt 83 -11 27 25 348 -99 13 -97 -23 -68 Total debt service paid (TDS) 15 109 169 113 155 159 128 155 105 136 Long-term debt 15 98 149 101 134 137 110 131 89 121 IMF repurchases and charges 0 2 16 9 11 10 8 9 9 11 Short-term debt (interest only) 0 9 4 3 10 12 11 15 7 3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 84 73 211 258 285 244 251 101 185 99 Net flow of long-term debt (ex. IMF) 83 47 100 85 142 54 29 -20 36 -40 Foreign direct investment (net) 0 1 18 24 17 18 63 10 2 0 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 2 25 93 149 125 172 158 112 148 139 Memo: 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 65 Interest on long-term debt 4 23 53 43 45 43 44 41 29 32 Profit remittances on FDI 0 0 61 36 46 60 32 8 46 1 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 2,665 3,775 3,661 3,460 3,377 3,035 2,971 3,153 Exports of goods, serv. & inc. (XGS) .. .. 841 775 749 817 780 759 854 998 Worker remit. & comp. of employees 0 0 0 1 2 5 6 1 9 15 Imports of goods & services (MGS) .. .. 1,115 1,053 955 1,088 1,053 973 995 1,074 International reserves (RES) .. .. .. 87 122 237 200 148 200 171 Current account balance .. .. -203 -177 -91 -154 -201 -140 -60 -46 4. DEBT INDICATORS EDT / XGS (%) .. .. 294.3 418.3 469.5 434.0 451.9 446.4 381.1 340.9 EDT / GNI (%) .. .. 92.9 85.8 96.1 102.5 104.3 111.6 109.5 107.9 TDS / XGS (%) .. .. 20.0 14.6 20.7 19.5 16.4 20.4 12.3 13.6 INT / XGS (%) .. .. 7.0 6.1 7.3 6.8 7.1 7.5 4.3 3.7 INT / GNI (%) .. .. 2.2 1.2 1.5 1.6 1.6 1.9 1.2 1.2 RES / EDT (%) .. .. .. 2.7 3.5 6.7 5.7 4.4 6.2 5.0 RES / MGS (months) .. .. .. 1.0 1.5 2.6 2.3 1.8 2.4 1.9 Short-term / EDT (%) 1.5 7.0 6.9 5.5 11.7 8.3 9.5 9.9 8.8 8.5 Concessional / EDT (%) 75.1 59.8 67.7 74.9 70.5 74.7 74.3 74.9 76.4 76.9 Multilateral / EDT (%) 6.2 11.5 27.4 45.9 44.2 47.6 47.7 47.7 48.8 50.2 241 GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 319 1,019 2,253 2,981 3,009 3,126 3,061 2,940 2,844 2,972 Public and publicly guaranteed 319 1,019 2,253 2,981 3,009 3,126 3,061 2,940 2,844 2,972 Official 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 1,063 Private 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 29 Private 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 0 Memo: 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 DISBURSEMENTS 94 121 196 143 232 148 95 70 95 49 Public and publicly guaranteed 94 121 196 143 232 148 95 70 95 49 Official creditors 83 64 196 126 212 142 95 70 95 49 Multilateral 15 34 90 111 194 135 84 70 95 49 Concessional 0 31 85 69 160 115 66 60 91 47 Bilateral 68 30 106 15 18 7 11 0 0 0 Concessional 57 24 105 14 13 3 10 0 0 0 Private creditors 10 57 0 17 20 7 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 10 53 0 17 20 7 0 0 0 0 Private 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 0 Memo: IBRD 15 0 0 0 0 0 0 0 0 0 IDA 0 10 52 47 109 66 29 29 70 32 PRINCIPAL REPAYMENTS 11 74 96 58 89 94 66 90 60 89 Public and publicly guaranteed 11 74 96 58 89 94 66 90 60 89 Official creditors 6 63 77 58 49 77 65 90 59 89 Multilateral 0 14 21 35 33 61 47 51 33 46 Concessional 0 0 6 26 15 15 25 29 22 23 Bilateral 6 49 56 23 16 16 18 39 27 43 Concessional 6 43 48 18 14 16 18 9 24 41 Private creditors 5 11 19 0 40 17 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 7 0 11 17 0 0 0 0 Other private 5 11 11 0 30 0 0 0 0 0 Private 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 0 Memo: IBRD 0 3 12 0 0 0 0 0 0 0 IDA 0 0 1 4 4 5 10 11 8 4 NET FLOWS ON DEBT 83 47 100 85 142 54 29 -20 36 -40 Public and publicly guaranteed 83 47 100 85 142 54 29 -20 36 -40 Official 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 -41 Private 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 0 Private 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 0 Memo: IBRD 15 -3 -12 0 0 0 0 0 0 0 IDA 0 10 51 43 105 61 19 17 63 28 242 GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 4 23 53 43 45 43 44 41 29 32 Public and publicly guaranteed 4 23 53 43 45 43 44 41 29 32 Official creditors 3 21 47 43 42 43 44 41 29 32 Multilateral 1 8 12 24 24 25 26 24 19 23 Concessional 0 0 5 11 11 11 15 13 12 14 Bilateral 2 13 35 19 17 18 18 17 10 9 Concessional 2 12 23 11 12 13 10 9 7 8 Private creditors 1 2 6 0 3 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 5 0 2 0 0 0 0 0 Other private 1 2 1 0 1 0 0 0 0 0 Private 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 0 Memo: IBRD 1 6 2 0 0 0 0 0 0 0 IDA 0 0 2 7 6 6 9 7 7 7 NET TRANSFERS ON DEBT 79 24 47 41 98 11 -15 -62 6 -72 Public and publicly guaranteed 79 24 47 41 98 11 -15 -62 6 -72 Official 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 -49 Private 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 0 Private 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 0 Memo: IBRD 14 -9 -14 0 0 0 0 0 0 0 IDA 0 10 49 36 99 55 10 10 56 22 DEBT SERVICE (LTDS) 15 98 149 101 134 137 110 131 89 121 Public and publicly guaranteed 15 98 149 101 134 137 110 131 89 121 Official creditors 9 84 124 101 91 120 110 131 89 121 Multilateral 1 22 33 59 58 86 73 76 52 69 Concessional 0 0 11 36 25 26 40 42 34 37 Bilateral 8 62 91 42 33 34 37 56 37 52 Concessional 8 55 71 29 26 29 28 18 31 49 Private creditors 6 14 25 0 44 17 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 13 0 13 17 0 0 0 0 Other private 6 13 12 0 31 0 0 0 0 0 Private 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 0 Memo: IBRD 1 9 14 0 0 0 0 0 0 0 IDA 0 0 3 11 10 11 19 18 15 11 UNDISBURSED DEBT 196 527 1,183 632 476 356 257 221 288 283 Official creditors 173 412 1,182 605 469 356 257 221 288 283 Private creditors 24 115 0 27 7 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 8.5 8.8 Deutsche mark 7.1 5.1 1.3 0.7 0.6 0.6 0.5 0.5 .. .. French franc 5.1 11.3 14.9 8.9 8.3 7.9 6.7 6.3 .. .. Japanese yen 0.0 0.1 2.2 3.2 2.6 2.7 3.0 2.8 2.2 2.2 Pound sterling 4.0 4.1 1.8 1.0 0.9 0.8 0.7 0.6 0.6 0.6 Swiss franc 0.0 0.8 0.6 0.3 0.3 0.3 0.2 0.2 0.2 0.2 U.S.dollars 16.0 28.2 33.1 49.3 51.5 51.8 53.3 54.1 56.2 57.1 Multiple currency 6.4 5.5 7.6 7.9 7.4 7.6 7.7 7.5 7.3 7.6 Special drawing rights 0.0 0.0 0.6 1.1 1.2 1.5 1.6 1.6 1.6 1.7 All other currencies 61.4 44.9 38.0 27.6 27.1 26.7 26.4 26.5 23.4 21.9 243 GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 110 0 83 22 39 0 14 5 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 71 0 24 15 14 0 5 3 Official .. .. 71 0 24 15 14 0 5 3 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 0 11 7 6 0 3 3 Official .. .. 0 0 11 7 6 0 3 3 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 2 0 7 5 4 0 36 31 Memo: interest forgiven .. .. 0 0 3 2 2 0 15 14 Debt stock reduction .. .. 0 0 0 130 0 0 0 0 of which debt buyback .. .. 0 0 0 17 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.9 4.6 2.6 2.5 0.6 1.4 0.8 0.8 0.8 0.8 Maturity (years) 12.9 19.3 30.5 28.5 43.0 37.2 39.5 43.6 41.3 47.7 Grace period (years) 5.2 5.6 8.2 8.3 10.4 9.0 10.0 10.1 10.4 10.3 Grant element (%) 40.1 36.2 59.5 60.4 83.1 69.7 80.3 81.5 81.1 82.7 Official creditors Interest (%) 0.9 3.4 2.6 2.5 0.6 1.4 0.8 0.8 0.8 0.8 Maturity (years) 15.0 22.8 30.5 28.5 43.0 37.2 39.5 43.6 41.3 47.7 Grace period (years) 7.0 6.6 8.2 8.3 10.4 9.0 10.0 10.1 10.4 10.3 Grant element (%) 55.5 46.5 59.5 60.4 83.1 69.7 80.3 81.5 81.1 82.7 Private creditors Interest (%) 6.2 7.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 9.5 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.5 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 15.6 8.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 68 269 487 131 135 24 51 54 170 24 Official creditors 42 197 487 131 135 24 51 54 170 24 Private creditors 26 72 0 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 54 46 41 35 33 25 18 10 8 4 Principal 115 114 99 99 94 95 97 100 100 97 Interest 43 42 40 38 35 33 31 29 26 24 Official creditors Disbursements 54 46 41 35 33 25 18 10 8 4 Principal 115 114 99 99 94 95 97 100 100 97 Interest 43 42 40 38 35 33 31 29 26 24 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 55 54 38 37 35 34 35 34 32 33 Interest 20 21 20 19 18 17 16 15 14 13 Multilateral creditors Disbursements 54 46 41 35 33 25 18 10 8 4 Principal 60 60 61 62 59 61 63 66 69 63 Interest 23 22 20 19 17 16 15 14 12 11 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 244 GUINEA-BISSAU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 139.6 692.1 936.8 921.3 965.6 933.7 804.4 668.3 699.2 Long-term debt (LDOD) .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1 Public and publicly guaranteed .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 1.4 5.3 7.7 12.2 15.4 17.3 24.7 23.2 23.4 Short-term debt .. 5.1 56.5 73.0 70.7 76.0 82.2 64.2 17.9 13.7 of 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 0.0 Memo: 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 0.0 Memo: 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 6.0 Long-term debt .. 74.7 36.5 28.3 30.3 14.5 2.1 13.6 5.9 6.0 IMF purchases .. 0.0 0.0 3.0 6.1 3.2 2.9 8.6 0.0 0.0 Principal repayments .. 3.0 2.3 6.7 6.1 7.0 4.0 9.6 13.4 10.0 Long-term debt .. 3.0 2.3 5.6 5.0 6.4 3.4 9.4 13.4 8.5 IMF repurchases .. 0.0 0.0 1.1 1.0 0.6 0.6 0.2 0.0 1.5 Net flows on debt .. 72.7 45.7 30.1 26.9 6.7 0.0 22.5 -10.4 -8.1 of which short-term debt .. 1.0 11.6 5.5 -3.5 -3.9 -1.0 10.0 -2.9 -4.1 Interest payments (INT) .. 1.6 6.1 4.5 3.6 5.1 5.1 10.3 9.9 4.7 Long-term debt .. 1.1 3.4 4.0 3.0 4.7 4.8 9.6 9.2 4.2 IMF charges .. 0.1 0.0 0.0 0.1 0.1 0.1 0.3 0.3 0.2 Short-term debt .. 0.5 2.7 0.5 0.5 0.3 0.2 0.5 0.5 0.3 Net transfers on debt .. 71.0 39.6 25.6 23.3 1.5 -5.1 12.2 -20.3 -12.8 Total debt service paid (TDS) .. 4.6 8.4 11.2 9.7 12.2 9.1 20.0 23.3 14.8 Long-term debt .. 4.1 5.7 9.6 8.1 11.2 8.1 19.0 22.5 12.7 IMF repurchases and charges .. 0.1 0.0 1.1 1.1 0.7 0.7 0.5 0.3 1.8 Short-term debt (interest only) .. 0.5 2.7 0.5 0.5 0.3 0.2 0.5 0.5 0.3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 108.4 96.4 77.8 89.0 60.8 48.5 55.3 30.2 33.0 Net flow of long-term debt (ex. IMF) .. 71.7 34.2 22.7 25.3 8.0 -1.3 4.2 -7.5 -2.5 Foreign direct investment (net) .. 0.0 2.0 1.0 11.5 4.4 8.6 0.7 0.7 1.0 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. 36.7 60.2 54.1 52.2 48.3 41.2 50.4 37.0 34.5 Memo: 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 27.8 Interest on long-term debt .. 1.1 3.4 4.0 3.0 4.7 4.8 9.6 9.2 4.2 Profit remittances on FDI .. 0.0 0.0 0.0 1.0 1.0 1.0 0.9 0.6 1.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 104.8 233.3 251.9 254.3 191.5 210.1 203.2 183.1 207.0 Exports 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 0.0 Imports 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 69.5 102.7 Current account balance .. .. -45.3 -44.5 -6.4 .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 2,554.0 3,064.4 1,565.2 .. .. .. .. .. EDT / GNI (%) .. 133.3 296.6 371.9 362.3 504.4 444.5 395.9 365.1 337.8 TDS / 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 2.3 RES / EDT (%) .. .. 2.6 1.2 3.7 3.7 3.8 8.3 10.4 14.7 RES / 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 2.0 Concessional / EDT (%) .. 62.0 56.7 72.1 72.2 72.3 71.6 75.4 85.1 86.8 Multilateral / EDT (%) .. 24.5 39.5 40.9 42.0 42.5 42.7 48.6 54.6 55.8 245 GUINEA-BISSAU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1 Public and publicly guaranteed .. 133.1 630.4 856.2 838.4 874.3 834.2 715.5 627.2 662.1 Official 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 .. 57.6 148.2 309.6 293.6 302.6 283.7 229.3 212.7 224.5 Private 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 0.0 Private 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 0.0 Memo: 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 6.0 Public and publicly guaranteed .. 74.7 36.5 28.3 30.3 14.5 2.1 13.6 5.9 6.0 Official 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 0.0 Private 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 0.0 Private 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 0.0 Memo: 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 8.5 Public and publicly guaranteed .. 3.0 2.3 5.6 5.0 6.4 3.4 9.4 13.4 8.5 Official 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 4.2 Private 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 0.0 Private 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 0.0 Memo: 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 -2.5 Public and publicly guaranteed .. 71.7 34.2 22.7 25.3 8.0 -1.3 4.2 -7.5 -2.5 Official 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 -4.2 Private 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 0.0 Private 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 0.0 Memo: 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 3.8 246 GUINEA-BISSAU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 1.1 3.4 4.0 3.0 4.7 4.8 9.6 9.2 4.2 Public and publicly guaranteed .. 1.1 3.4 4.0 3.0 4.7 4.8 9.6 9.2 4.2 Official 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 2.6 Private 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 0.0 Private 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 0.0 Memo: 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 -6.7 Public and publicly guaranteed .. 70.6 30.8 18.7 22.2 3.3 -6.0 -5.3 -16.7 -6.7 Official 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 -6.8 Private 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 0.0 Private 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 0.0 Memo: 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 12.7 Public and publicly guaranteed .. 4.1 5.7 9.6 8.1 11.2 8.1 19.0 22.5 12.7 Official 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 6.8 Private 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 0.0 Private 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 0.0 Memo: 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 72.6 105.7 Official creditors .. 66.6 263.6 91.4 85.2 77.8 66.4 74.9 72.6 105.7 Private creditors .. 6.0 8.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 10.4 11.4 Deutsche mark .. 0.0 0.5 0.4 0.3 0.3 0.3 0.3 .. .. French franc .. 14.8 1.8 1.1 1.0 1.0 0.9 1.0 .. .. Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 2.8 8.6 12.7 12.2 12.3 11.1 12.7 10.6 10.6 U.S.dollars .. 25.1 27.3 30.1 31.9 31.3 32.4 37.9 43.8 43.3 Multiple currency .. 2.8 26.4 24.0 24.1 25.0 25.3 28.0 29.3 29.6 Special drawing rights .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. 54.5 35.4 31.7 30.5 30.0 29.9 20.1 5.9 5.2 247 GUINEA-BISSAU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 16.1 228.0 3.0 1.1 0.0 0.0 44.6 5.9 Debt stock rescheduled .. .. 0.0 16.3 0.0 0.0 0.0 0.0 0.0 0.0 Principal rescheduled .. .. 8.2 112.9 0.4 0.3 0.0 0.0 29.3 4.5 Official .. .. 3.8 84.4 0.4 0.3 0.0 0.0 29.2 4.5 Private .. .. 4.4 28.5 0.0 0.0 0.0 0.0 0.2 0.0 Interest rescheduled .. .. 6.8 43.3 0.1 0.1 0.0 0.0 15.3 1.5 Official .. .. 3.7 37.6 0.1 0.1 0.0 0.0 15.3 1.5 Private .. .. 3.1 5.6 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiven .. .. 4.5 3.4 0.0 0.0 0.0 92.0 70.7 19.6 Memo: interest forgiven .. .. 0.6 2.5 0.0 0.0 0.0 32.5 32.3 6.3 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 80.9 Official 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 80.9 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 6.0 33.8 16.3 13.7 12.5 9.8 6.3 4.6 2.4 1.0 Principal 8.5 32.2 36.0 28.4 20.8 19.7 20.2 18.8 19.2 18.7 Interest 4.2 8.2 10.1 8.9 8.4 8.1 7.8 7.5 7.2 7.0 Official creditors Disbursements 6.0 33.8 16.3 13.7 12.5 9.8 6.3 4.6 2.4 1.0 Principal 8.5 32.2 36.0 28.4 20.8 19.7 20.2 18.8 19.2 18.7 Interest 4.2 8.2 10.1 8.9 8.4 8.1 7.8 7.5 7.2 7.0 Bilateral creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 4.2 22.7 25.2 18.2 10.0 8.3 8.0 6.4 5.8 4.7 Interest 2.6 5.1 6.9 5.8 5.2 5.0 4.7 4.5 4.3 4.1 Multilateral creditors Disbursements 6.0 33.8 16.3 13.7 12.5 9.8 6.3 4.6 2.4 1.0 Principal 4.3 9.6 10.8 10.2 10.7 11.4 12.2 12.4 13.3 14.0 Interest 1.6 3.1 3.2 3.2 3.2 3.1 3.1 3.0 3.0 2.9 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 248 GUYANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 83 835 1,969 1,654 1,635 1,516 1,478 1,431 1,400 1,459 Long-term debt (LDOD) 83 631 1,781 1,394 1,370 1,229 1,191 1,184 1,174 1,218 Public and publicly guaranteed 83 631 1,781 1,394 1,370 1,229 1,186 1,180 1,170 1,214 Private nonguaranteed 0 0 0 0 0 0 5 4 4 3 Use of IMF credit 0 86 113 168 157 154 140 117 98 96 Short-term debt 0 118 75 92 108 133 147 130 129 145 of which interest arrears on LDOD 0 8 63 74 92 86 82 78 93 101 Official creditors 0 5 40 55 71 65 69 70 74 80 Private creditors 0 3 23 20 21 22 13 8 18 20 Memo: principal arrears on LDOD 0 61 193 121 116 95 72 73 78 82 Official creditors 0 34 89 82 76 55 60 59 64 67 Private creditors 0 27 104 39 40 40 12 15 14 15 Memo: export credits 0 0 257 167 207 24 43 37 30 36 TOTAL DEBT FLOWS Disbursements 14 169 264 109 90 70 63 73 63 49 Long-term debt 14 115 159 83 65 57 51 64 63 42 IMF purchases 0 55 104 26 25 12 12 9 0 7 Principal repayments 2 58 175 73 76 73 56 41 25 45 Long-term debt 2 43 69 49 51 52 41 25 19 36 IMF repurchases 0 16 107 24 26 22 15 17 5 9 Net flows on debt 12 155 256 38 12 26 26 19 23 13 of which short-term debt 0 44 167 1 -1 30 19 -13 -16 8 Interest payments (INT) 3 35 120 32 56 63 39 30 20 33 Long-term debt 3 31 73 29 54 60 35 26 17 31 IMF charges 0 4 40 2 1 1 1 1 1 0 Short-term debt 0 1 7 1 1 2 3 3 2 1 Net transfers on debt 8 120 135 6 -44 -36 -14 -11 4 -20 Total debt service paid (TDS) 6 93 295 104 132 136 95 71 44 78 Long-term debt 6 74 142 78 104 112 77 51 36 67 IMF repurchases and charges 0 19 146 25 27 22 15 17 6 9 Short-term debt (interest only) 0 1 7 1 1 2 3 3 2 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 22 77 173 130 262 154 84 145 138 65 Net flow of long-term debt (ex. IMF) 12 72 91 35 14 6 9 40 44 6 Foreign direct investment (net) 9 1 8 59 52 44 46 67 56 44 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 2 4 74 37 196 105 29 39 37 15 Memo: 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 30 Interest on long-term debt 3 31 73 29 54 60 35 26 17 31 Profit remittances on FDI 0 0 0 15 6 4 3 6 5 4 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 247 561 275 650 673 648 640 660 653 665 Exports of goods, serv. & inc. (XGS) .. 411 .. 747 769 716 704 713 695 726 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 538 .. 843 905 847 801 848 850 826 International reserves (RES) 20 13 29 330 316 277 268 305 287 284 Current account balance .. -129 .. -69 -111 -102 -78 -115 -134 -111 4. DEBT INDICATORS EDT / XGS (%) .. 203.3 .. 221.4 212.6 211.8 210.1 200.6 201.5 200.9 EDT / GNI (%) 33.5 148.7 715.8 254.3 243.0 234.0 231.1 216.9 214.5 219.5 TDS / XGS (%) .. 22.8 .. 13.9 17.2 19.1 13.5 9.9 6.4 10.7 INT / XGS (%) .. 8.6 .. 4.2 7.2 8.8 5.6 4.2 2.8 4.5 INT / GNI (%) 1.4 6.3 43.7 4.9 8.3 9.7 6.1 4.5 3.0 4.9 RES / EDT (%) 24.7 1.5 1.5 19.9 19.3 18.2 18.1 21.3 20.5 19.5 RES / MGS (months) .. 0.3 .. 4.7 4.2 3.9 4.0 4.3 4.1 4.1 Short-term / EDT (%) 0.0 14.1 3.8 5.5 6.6 8.7 10.0 9.1 9.2 9.9 Concessional / EDT (%) 48.4 27.5 56.9 54.2 55.6 54.6 69.3 72.6 74.2 74.4 Multilateral / EDT (%) 0.8 13.5 23.7 40.4 40.7 46.2 39.3 41.8 45.0 46.4 249 GUYANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 83 631 1,781 1,394 1,370 1,229 1,191 1,184 1,174 1,218 Public and publicly guaranteed 83 631 1,781 1,394 1,370 1,229 1,186 1,180 1,170 1,214 Official 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 40 160 831 342 335 209 508 488 445 440 Private 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 39 Private 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 3 Memo: IBRD 0 36 59 27 19 16 12 8 5 3 IDA 0 18 93 212 218 234 184 180 178 196 DISBURSEMENTS 14 115 159 83 65 57 51 64 63 42 Public and publicly guaranteed 14 115 159 83 65 57 48 64 63 42 Official creditors 14 84 153 74 65 57 48 64 63 42 Multilateral 1 34 122 73 53 50 45 64 63 37 Concessional 0 29 109 73 53 50 45 64 63 37 Bilateral 13 50 31 1 12 7 3 0 0 5 Concessional 6 21 19 1 12 7 3 0 0 5 Private creditors 0 31 6 10 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 21 0 9 0 0 0 0 0 0 Other private 0 9 6 1 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 3 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 3 0 0 0 Memo: IBRD 0 2 0 0 0 0 0 0 0 0 IDA 0 2 54 16 18 9 7 6 7 6 PRINCIPAL REPAYMENTS 2 43 69 49 51 52 41 25 19 36 Public and publicly guaranteed 2 43 69 49 51 52 37 24 19 35 Official creditors 1 18 46 41 47 48 34 24 18 35 Multilateral 0 1 42 23 28 32 18 20 16 13 Concessional 0 0 6 7 13 17 5 8 8 5 Bilateral 1 17 4 18 19 16 16 4 2 22 Concessional 1 9 0 10 14 11 12 1 1 21 Private creditors 1 25 22 8 4 4 3 0 0 0 Bonds 0 0 1 0 0 0 0 0 0 0 Commercial banks 1 11 8 3 2 3 3 0 0 0 Other private 0 14 14 5 2 1 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 4 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 4 0 0 0 Memo: IBRD 0 1 31 5 5 5 3 3 3 3 IDA 0 0 0 1 1 1 0 1 1 0 NET FLOWS ON DEBT 12 72 91 35 14 6 9 40 44 6 Public and publicly guaranteed 12 72 91 35 14 6 11 40 45 7 Official 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 -16 Private 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 0 Private 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 0 Memo: IBRD 0 1 -31 -5 -5 -5 -3 -3 -3 -3 IDA 0 2 54 16 17 9 7 5 6 6 250 GUYANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 3 31 73 29 54 60 35 26 17 31 Public and publicly guaranteed 3 31 73 29 54 60 35 26 17 31 Official creditors 3 11 64 27 53 59 33 26 17 28 Multilateral 0 4 58 16 17 23 13 10 10 8 Concessional 0 1 8 6 9 16 7 6 7 6 Bilateral 3 7 6 11 36 36 20 16 7 20 Concessional 1 4 3 9 13 19 13 15 6 19 Private creditors 1 20 9 2 1 2 2 0 0 2 Bonds 1 1 0 0 0 0 0 0 0 0 Commercial banks 0 14 5 1 1 1 1 0 0 0 Other private 0 5 4 2 0 1 1 0 0 2 Private 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 0 Memo: IBRD 0 3 31 2 2 1 1 1 1 0 IDA 0 0 0 2 2 2 2 1 1 1 NET TRANSFERS ON DEBT 8 41 18 6 -39 -55 -26 13 27 -24 Public and publicly guaranteed 8 41 18 6 -39 -55 -24 14 28 -24 Official 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 -36 Private 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 -2 Private 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 -1 Memo: IBRD 0 -2 -62 -8 -7 -6 -4 -4 -3 -3 IDA 0 2 53 14 16 7 5 4 5 4 DEBT SERVICE (LTDS) 6 74 142 78 104 112 77 51 36 67 Public and publicly guaranteed 6 74 142 78 104 112 72 50 36 66 Official creditors 4 29 110 68 100 106 67 50 35 64 Multilateral 0 5 100 39 44 55 31 30 26 22 Concessional 0 1 14 13 21 33 12 14 15 11 Bilateral 4 24 11 29 56 52 36 20 9 42 Concessional 2 13 3 18 26 30 25 16 7 41 Private creditors 2 45 32 10 5 6 5 0 1 3 Bonds 1 1 1 0 0 0 0 0 0 0 Commercial banks 1 25 12 3 3 3 4 0 0 0 Other private 0 19 18 7 2 2 2 0 0 2 Private nonguaranteed 0 0 0 0 0 0 5 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 5 1 1 1 Memo: IBRD 0 4 62 8 7 6 4 4 3 3 IDA 0 0 1 2 2 2 2 2 2 1 UNDISBURSED DEBT 56 226 275 275 271 280 246 262 199 269 Official creditors 56 210 270 275 271 280 246 262 199 269 Private creditors 0 16 4 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.0 4.8 Deutsche mark 0.0 0.8 2.2 1.9 1.5 1.6 1.3 1.2 .. .. French franc 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.0 .. .. Japanese yen 0.0 0.0 0.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Pound sterling 68.9 20.9 10.3 9.0 8.9 9.9 9.7 8.8 8.5 8.6 Swiss franc 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 24.7 59.9 68.1 60.2 62.2 58.4 64.7 67.5 65.9 65.9 Multiple currency 0.4 9.7 14.7 21.7 20.7 22.8 17.5 17.0 19.2 18.4 Special drawing rights 0.0 0.0 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 All other currencies 6.0 8.6 4.2 6.5 6.2 7.0 6.5 5.2 2.0 1.9 251 GUYANA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 474 277 0 0 322 0 0 0 Debt stock rescheduled .. .. 320 0 0 0 37 0 0 0 Principal rescheduled .. .. 89 239 0 0 211 0 0 0 Official .. .. 88 239 0 0 211 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 38 37 0 0 1 0 0 0 Official .. .. 37 37 0 0 1 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 31 459 2 0 24 5 6 5 Memo: interest forgiven .. .. 1 3 0 0 2 0 0 4 Debt stock reduction .. .. 0 0 0 0 181 0 0 0 of which debt buyback .. .. 0 0 0 0 30 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.0 10.5 1.3 1.6 1.6 1.4 1.7 2.0 0.5 2.0 Maturity (years) 25.3 8.1 39.7 37.3 39.0 38.8 38.4 40.0 6.8 39.7 Grace period (years) 9.7 2.4 9.9 10.0 9.9 10.4 9.8 10.5 0.7 10.5 Grant element (%) 32.4 2.9 74.9 70.8 72.7 74.1 70.4 69.6 28.4 69.8 Official creditors Interest (%) 6.0 9.2 1.3 1.6 1.6 1.4 1.7 2.0 0.5 2.0 Maturity (years) 25.3 9.5 39.7 37.5 39.0 38.8 38.4 40.0 6.8 39.7 Grace period (years) 9.7 3.2 9.9 10.1 9.9 10.4 9.8 10.5 0.7 10.5 Grant element (%) 32.4 11.2 74.9 71.2 72.7 74.1 70.4 69.6 28.4 69.8 Private creditors Interest (%) 0.0 12.3 0.0 7.4 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 6.2 0.0 3.8 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 1.3 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 0.0 -8.9 0.0 3.9 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 20 96 282 106 83 55 28 85 3 117 Official creditors 20 56 282 105 83 55 28 85 3 117 Private creditors 0 39 0 1 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 49 62 54 45 31 17 10 1 0 0 Principal 57 57 57 73 50 46 40 36 41 44 Interest 28 27 26 24 24 23 22 21 20 19 Official creditors Disbursements 49 62 54 45 31 17 10 1 0 0 Principal 56 56 55 46 49 45 39 36 41 44 Interest 26 25 24 24 23 22 21 20 20 19 Bilateral creditors Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 32 33 32 23 23 23 15 12 14 16 Interest 14 13 12 11 10 9 8 8 7 7 Multilateral creditors Disbursements 48 61 54 45 31 17 10 1 0 0 Principal 24 23 23 24 26 23 24 23 27 28 Interest 12 12 12 13 13 13 13 12 12 12 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 1 1 27 1 1 1 0 0 0 Interest 2 2 2 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 1 1 1 26 0 0 0 0 0 0 Interest 2 1 1 0 0 0 0 0 0 0 252 HAITI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 43 350 911 904 1,052 1,050 1,182 1,169 1,252 1,248 Long-term debt (LDOD) 40 290 772 843 902 982 1,041 1,039 1,028 1,063 Public and publicly guaranteed 40 290 772 843 902 982 1,041 1,039 1,028 1,063 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 3 46 38 25 43 38 45 39 39 31 Short-term debt 0 14 101 36 107 30 96 90 185 154 of 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 0 Memo: 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 0 Memo: 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 4 Long-term debt 4 47 38 107 98 94 79 51 14 4 IMF purchases 0 29 5 0 21 0 0 0 0 0 Principal repayments 3 21 20 16 19 22 30 21 11 16 Long-term debt 3 18 8 13 17 16 19 18 11 7 IMF repurchases 0 3 12 3 1 5 11 3 0 9 Net flows on debt 1 51 39 100 172 -5 114 24 95 -47 of which short-term debt 0 -5 16 10 71 -77 66 -6 92 -35 Interest payments (INT) 0 9 15 13 19 20 20 20 14 12 Long-term debt 0 6 6 10 14 15 15 15 10 8 IMF charges 0 1 3 1 1 1 1 1 1 1 Short-term debt 0 2 7 2 3 3 3 5 3 3 Net transfers on debt 1 42 24 87 153 -24 95 4 80 -59 Total debt service paid (TDS) 4 29 36 29 37 41 50 41 26 28 Long-term debt 4 24 14 23 31 32 34 33 21 15 IMF repurchases and charges 0 3 15 4 2 6 13 4 1 10 Short-term debt (interest only) 0 2 7 2 3 3 3 5 3 3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 6 73 95 251 218 223 198 137 81 84 Net flow of long-term debt (ex. IMF) 1 29 30 93 81 78 59 33 2 -3 Foreign direct investment (net) 3 13 0 4 4 11 30 13 4 6 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 2 30 65 154 133 134 109 91 75 81 Memo: 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 68 Interest on long-term debt 0 6 6 10 14 15 15 15 10 8 Profit remittances on FDI 0 11 0 0 4 10 7 15 11 8 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 391 1,446 2,836 2,985 3,297 3,753 4,095 3,874 3,788 3,443 Exports of goods, serv. & inc. (XGS) .. 415 325 192 379 479 .. .. .. .. Worker remit. & comp. of employees 0 106 96 96 96 96 96 96 96 96 Imports of goods & services (MGS) .. 498 540 792 905 1,033 .. .. .. .. International reserves (RES) 4 27 10 223 213 264 264 183 142 82 Current 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 36.2 TDS / 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 0.3 RES / EDT (%) 10.0 7.6 1.1 24.7 20.2 25.1 22.4 15.6 11.3 6.6 RES / 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 12.3 Concessional / EDT (%) 68.3 74.7 79.1 93.1 85.6 93.4 88.0 88.8 82.0 85.1 Multilateral / EDT (%) 0.8 37.8 53.7 76.4 71.2 79.1 75.9 77.2 71.4 74.7 253 HAITI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 40 290 772 843 902 982 1,041 1,039 1,028 1,063 Public and publicly guaranteed 40 290 772 843 902 982 1,041 1,039 1,028 1,063 Official 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 29 129 231 151 152 151 143 136 133 131 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 66 324 442 458 493 504 480 467 501 DISBURSEMENTS 4 47 38 107 98 94 79 51 14 4 Public and publicly guaranteed 4 47 38 107 98 94 79 51 14 4 Official creditors 0 32 38 107 98 94 79 51 14 4 Multilateral 0 21 27 101 90 93 79 51 14 4 Concessional 0 21 27 101 90 93 79 51 14 4 Bilateral 0 11 11 6 8 1 0 0 0 0 Concessional 0 7 11 6 8 1 0 0 0 0 Private creditors 4 15 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 4 10 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 13 14 67 40 39 14 8 1 0 PRINCIPAL REPAYMENTS 3 18 8 13 17 16 19 18 11 7 Public and publicly guaranteed 3 18 8 13 17 16 19 18 11 7 Official creditors 1 10 8 13 17 16 19 18 11 7 Multilateral 0 0 5 10 14 13 14 14 8 3 Concessional 0 0 5 10 14 13 14 14 8 3 Bilateral 1 10 3 3 4 4 5 4 4 4 Concessional 1 10 3 3 3 3 5 4 4 4 Private creditors 3 7 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 0 0 0 0 Other private 3 7 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 4 4 5 6 7 0 0 NET FLOWS ON DEBT 1 29 30 93 81 78 59 33 2 -3 Public and publicly guaranteed 1 29 30 93 81 78 59 33 2 -3 Official 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 -4 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 13 13 63 35 34 8 1 1 0 254 HAITI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 6 6 10 14 15 15 15 10 8 Public and publicly guaranteed 0 6 6 10 14 15 15 15 10 8 Official creditors 0 4 6 10 14 15 15 15 10 8 Multilateral 0 1 5 7 8 10 10 9 5 3 Concessional 0 1 5 7 8 10 10 9 5 3 Bilateral 0 3 1 3 5 5 5 5 5 5 Concessional 0 3 1 3 5 5 5 5 5 5 Private creditors 0 2 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 0 0 0 0 Other private 0 1 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 3 3 3 4 4 0 0 NET TRANSFERS ON DEBT 1 23 24 83 67 63 44 18 -7 -11 Public and publicly guaranteed 1 23 24 83 67 63 44 18 -7 -11 Official 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 -9 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 13 10 60 32 30 5 -2 1 0 DEBT SERVICE (LTDS) 4 24 14 23 31 32 34 33 21 15 Public and publicly guaranteed 4 24 14 23 31 32 34 33 21 15 Official creditors 1 15 14 23 31 32 34 33 21 15 Multilateral 0 1 10 17 22 22 24 23 13 6 Concessional 0 1 10 17 22 22 24 23 13 6 Bilateral 1 13 4 6 9 9 10 9 9 9 Concessional 1 13 4 6 9 9 10 9 8 9 Private creditors 3 9 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 0 0 0 0 0 0 0 Other private 3 8 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 7 8 8 10 10 0 0 UNDISBURSED DEBT 5 145 267 351 407 300 310 228 218 203 Official creditors 0 128 267 351 407 300 310 228 218 203 Private creditors 5 17 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.0 2.0 Deutsche mark 0.0 4.2 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 0.0 5.8 10.8 2.9 3.1 2.9 2.4 1.9 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 100.0 79.3 70.7 78.1 78.2 79.7 81.2 82.0 82.1 82.8 Multiple currency 0.0 10.8 18.5 19.0 18.8 17.3 16.4 16.0 15.9 15.2 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 255 HAITI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 2 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 1 0 0 0 0 0 0 Official .. .. 0 1 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 0 Debt forgiven .. .. 0 1 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.8 5.2 1.4 1.8 1.5 0.0 1.5 0.0 0.0 0.0 Maturity (years) 9.5 19.6 38.9 40.0 39.9 0.0 40.0 0.0 0.0 0.0 Grace period (years) 1.0 6.3 10.4 10.5 10.4 0.0 10.5 0.0 0.0 0.0 Grant element (%) 16.0 32.6 75.0 71.8 73.6 0.0 74.1 0.0 0.0 0.0 Official creditors Interest (%) 3.4 2.8 1.4 1.8 1.5 0.0 1.5 0.0 0.0 0.0 Maturity (years) 43.0 29.8 38.9 40.0 39.9 0.0 40.0 0.0 0.0 0.0 Grace period (years) 7.3 10.3 10.4 10.5 10.4 0.0 10.5 0.0 0.0 0.0 Grant element (%) 55.8 54.5 75.0 71.8 73.6 0.0 74.1 0.0 0.0 0.0 Private creditors Interest (%) 4.8 8.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.6 7.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.9 1.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 14.9 5.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 5 51 102 71 163 0 96 0 0 0 Official creditors 0 28 102 71 163 0 96 0 0 0 Private creditors 5 23 0 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 8 40 40 38 32 26 16 2 0 0 Principal 25 26 28 33 37 39 41 44 45 45 Interest 16 16 16 17 17 17 17 16 15 15 Official creditors Disbursements 8 40 40 38 32 26 16 2 0 0 Principal 25 26 28 33 37 39 41 44 45 45 Interest 16 16 16 17 17 17 17 16 15 15 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 5 5 5 5 5 5 5 5 5 5 Interest 5 5 4 4 4 4 4 4 3 3 Multilateral creditors Disbursements 8 40 40 38 32 26 16 2 0 0 Principal 20 21 23 28 32 35 36 39 40 40 Interest 11 11 11 12 13 13 13 12 12 11 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 256 HONDURAS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 111 1,473 3,718 4,714 4,851 5,104 5,519 5,570 5,050 5,395 Long-term debt (LDOD) 111 1,167 3,487 4,237 4,318 4,455 4,854 4,981 4,501 4,675 Public and publicly guaranteed 91 976 3,420 4,021 4,059 4,043 4,311 4,421 3,995 4,211 Private nonguaranteed 19 191 66 216 259 412 542 560 506 463 Use of IMF credit 0 33 32 58 46 113 210 216 220 197 Short-term debt 0 272 199 419 487 537 454 374 329 524 of 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 12 Memo: 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 29 Memo: export credits 0 0 338 552 468 272 284 331 276 309 TOTAL DEBT FLOWS Disbursements 45 375 457 456 662 488 810 618 402 293 Long-term debt 38 346 429 456 662 423 706 596 381 293 IMF purchases 6 29 29 0 0 64 104 21 21 0 Principal repayments 6 87 211 430 352 337 311 259 249 289 Long-term debt 6 87 176 392 343 335 308 254 241 254 IMF repurchases 0 0 35 38 9 2 4 5 7 35 Net flows on debt 38 296 129 65 377 193 432 296 134 163 of which short-term debt 0 8 -117 39 67 43 -66 -63 -20 159 Interest payments (INT) 4 120 178 186 204 216 186 131 94 108 Long-term debt 4 83 157 164 180 190 159 107 75 95 IMF charges 0 1 6 2 0 0 3 4 4 2 Short-term debt 0 36 15 20 23 26 24 20 16 11 Net transfers on debt 35 176 -49 -121 174 -23 246 165 39 55 Total debt service paid (TDS) 10 207 389 616 555 553 497 390 343 397 Long-term debt 10 170 333 556 523 525 467 361 316 349 IMF repurchases and charges 0 1 41 40 9 2 7 9 11 37 Short-term debt (interest only) 0 36 15 20 23 26 24 20 16 11 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 41 284 506 252 519 353 935 810 531 312 Net flow of long-term debt (ex. IMF) 32 259 252 64 319 88 398 342 140 39 Foreign direct investment (net) 8 6 44 91 122 99 237 282 195 143 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 0 19 211 97 78 166 299 186 197 130 Memo: 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 93 732 634 381 132 Interest on long-term debt 4 83 157 164 180 190 159 107 75 95 Profit remittances on FDI 0 78 72 67 70 70 44 70 75 85 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 700 2,429 2,848 3,822 4,499 5,053 5,260 6,066 6,250 6,395 Exports of goods, serv. & inc. (XGS) .. 967 1,103 2,111 2,421 2,705 2,631 3,010 3,051 3,223 Worker remit. & comp. of employees 0 2 63 157 190 225 328 416 540 712 Imports of goods & services (MGS) .. 1,306 1,384 2,546 2,793 3,081 3,248 3,524 3,668 3,645 International reserves (RES) 20 159 47 257 587 824 1,264 1,319 1,421 1,531 Current account balance .. -317 -51 -335 -272 -148 -241 -276 -330 -266 4. DEBT INDICATORS EDT / XGS (%) .. 152.2 337.0 223.3 200.3 188.7 209.8 185.0 165.5 167.4 EDT / GNI (%) 15.8 60.6 130.5 123.3 107.8 101.0 104.9 91.8 80.8 84.4 TDS / XGS (%) .. 21.4 35.3 29.2 22.9 20.5 18.9 13.0 11.2 12.3 INT / XGS (%) .. 12.4 16.1 8.8 8.4 8.0 7.1 4.4 3.1 3.4 INT / GNI (%) 0.5 4.9 6.2 4.9 4.5 4.3 3.5 2.2 1.5 1.7 RES / EDT (%) 18.3 10.8 1.3 5.5 12.1 16.1 22.9 23.7 28.1 28.4 RES / MGS (months) .. 1.5 0.4 1.2 2.5 3.2 4.7 4.5 4.6 5.0 Short-term / EDT (%) 0.0 18.5 5.4 8.9 10.0 10.5 8.2 6.7 6.5 9.7 Concessional / EDT (%) 49.1 21.8 37.4 50.2 49.7 50.0 52.9 52.6 57.9 59.0 Multilateral / EDT (%) 57.3 31.1 42.5 44.7 47.7 46.7 47.4 49.1 50.2 49.5 257 HONDURAS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 111 1,167 3,487 4,237 4,318 4,455 4,854 4,981 4,501 4,675 Public and publicly guaranteed 91 976 3,420 4,021 4,059 4,043 4,311 4,421 3,995 4,211 Official 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 1,109 Private 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 32 Private 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 66 216 259 412 542 560 506 463 Memo: IBRD 30 152 558 350 275 235 185 151 127 105 IDA 15 64 77 424 496 579 841 838 901 1,014 DISBURSEMENTS 38 346 429 456 662 423 706 596 381 293 Public and publicly guaranteed 29 265 421 309 556 197 451 412 264 169 Official creditors 29 151 364 306 551 194 447 409 260 169 Multilateral 21 113 190 259 478 141 367 372 219 132 Concessional 10 37 54 181 133 117 352 113 216 123 Bilateral 7 38 174 47 72 54 80 36 41 37 Concessional 7 12 88 46 68 43 22 24 29 37 Private creditors 0 114 57 2 5 3 4 4 4 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 59 22 2 5 3 0 1 4 1 Other private 0 55 36 0 0 0 4 3 0 0 Private nonguaranteed 10 81 8 147 106 226 254 184 117 123 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 10 81 8 147 106 226 254 184 117 123 Memo: IBRD 10 24 82 0 0 0 0 0 0 0 IDA 2 18 0 52 95 64 273 38 98 51 PRINCIPAL REPAYMENTS 6 87 176 392 343 335 308 254 241 254 Public and publicly guaranteed 3 39 151 338 280 261 184 88 70 88 Official creditors 2 23 143 313 234 216 173 87 51 87 Multilateral 2 20 137 239 137 120 140 86 43 68 Concessional 1 2 16 21 20 25 27 22 15 17 Bilateral 0 2 6 74 96 95 33 1 8 19 Concessional 0 1 2 50 53 54 14 0 4 15 Private creditors 1 16 8 25 46 46 11 1 19 0 Bonds 0 0 0 13 30 32 0 0 0 0 Commercial banks 0 13 4 4 3 3 6 1 19 0 Other private 1 3 4 8 13 11 5 0 0 0 Private nonguaranteed 3 48 25 54 63 74 124 166 171 166 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 48 25 54 63 74 124 166 171 166 Memo: IBRD 1 4 94 59 50 48 47 27 5 10 IDA 0 0 2 2 2 2 2 2 3 6 NET FLOWS ON DEBT 32 259 252 64 319 88 398 342 140 39 Public and publicly guaranteed 26 226 270 -29 276 -64 267 325 194 82 Official 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 21 Private 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 0 Private 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 -43 Memo: IBRD 9 20 -12 -59 -50 -48 -47 -27 -5 -10 IDA 2 17 -2 50 93 62 271 36 94 46 258 HONDURAS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 4 83 157 164 180 190 159 107 75 95 Public and publicly guaranteed 3 58 155 158 160 168 127 76 51 77 Official creditors 2 31 150 144 141 152 125 75 50 76 Multilateral 2 24 141 98 82 91 90 67 44 57 Concessional 0 4 11 15 16 19 19 21 14 17 Bilateral 0 7 8 47 60 60 35 8 6 19 Concessional 0 2 1 30 32 30 20 5 3 16 Private creditors 0 27 6 14 18 16 2 0 1 0 Bonds 0 0 0 7 8 9 0 0 0 0 Commercial banks 0 26 5 4 4 2 1 0 1 0 Other private 0 1 1 3 7 4 1 0 0 0 Private nonguaranteed 1 25 1 5 20 23 32 31 24 18 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 25 1 5 20 23 32 31 24 18 Memo: IBRD 1 12 96 30 23 20 18 15 13 10 IDA 0 0 1 3 3 4 4 6 6 7 NET TRANSFERS ON DEBT 29 176 95 -100 139 -102 239 235 65 -56 Public and publicly guaranteed 23 168 114 -187 116 -232 141 249 143 5 Official 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 6 Private 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 0 Private 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 -61 Memo: IBRD 8 8 -108 -89 -73 -68 -65 -42 -18 -20 IDA 2 17 -3 47 90 58 266 30 88 39 DEBT SERVICE (LTDS) 10 170 333 556 523 525 467 361 316 349 Public and publicly guaranteed 6 97 307 496 439 429 311 164 121 164 Official creditors 4 54 293 457 375 367 298 162 101 163 Multilateral 4 45 278 336 219 211 230 153 87 125 Concessional 1 6 27 37 36 44 46 43 29 34 Bilateral 0 9 15 121 156 156 68 9 14 38 Concessional 0 3 3 80 85 84 35 5 6 31 Private creditors 2 44 14 39 64 62 13 1 20 1 Bonds 0 0 0 20 38 41 0 0 0 0 Commercial banks 0 39 9 8 7 5 7 1 20 1 Other private 2 4 5 11 20 16 6 0 0 0 Private nonguaranteed 4 73 26 60 83 96 156 197 195 185 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 73 26 60 83 96 156 197 195 185 Memo: IBRD 2 16 191 89 73 68 65 42 18 20 IDA 0 1 3 5 5 6 7 8 10 13 UNDISBURSED DEBT 54 729 664 802 555 645 678 661 789 788 Official creditors 54 716 654 793 545 637 669 657 788 788 Private creditors 0 13 10 9 10 8 9 5 1 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.9 6.8 Deutsche mark 0.0 0.0 2.6 3.0 2.9 3.1 2.3 2.1 .. .. French franc 0.6 0.4 3.1 2.5 2.7 2.8 1.7 1.5 .. .. Japanese yen 0.0 0.0 8.4 8.5 8.9 10.1 9.1 8.2 9.7 9.6 Pound sterling 0.0 0.0 0.9 0.6 0.8 0.7 0.6 0.4 0.0 0.0 Swiss franc 0.0 0.0 2.1 1.3 1.3 1.3 1.0 0.9 0.1 0.2 U.S.dollars 66.6 62.9 45.2 50.9 59.6 57.9 63.7 66.6 65.2 65.5 Multiple currency 32.8 25.4 34.5 28.5 20.0 19.8 17.8 15.9 17.3 15.9 Special drawing rights 0.0 0.0 0.1 0.2 0.1 0.1 0.1 0.3 0.5 0.9 All other currencies 0.0 11.2 3.1 4.4 3.7 4.1 3.6 4.2 1.1 1.1 259 HONDURAS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 308 67 109 0 184 181 163 23 Debt stock rescheduled .. .. 0 0 3 0 7 0 0 0 Principal rescheduled .. .. 151 45 100 0 132 134 117 17 Official .. .. 68 39 99 0 124 103 107 15 Private .. .. 83 5 1 0 8 31 10 2 Interest rescheduled .. .. 140 21 3 0 45 47 46 6 Official .. .. 78 17 3 0 43 38 40 5 Private .. .. 62 4 0 0 2 9 6 1 Debt forgiven .. .. 10 2 1 28 32 14 52 31 Memo: interest forgiven .. .. 11 2 0 13 9 5 23 11 Debt stock reduction .. .. 41 0 0 0 0 0 13 0 of which debt buyback .. .. 0 0 0 0 0 0 13 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 71.3 Official 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 71.3 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL 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 Official 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 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 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 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 260 HUNGARY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 21,201 27,259 24,561 28,473 29,874 29,520 30,305 34,958 Long-term debt (LDOD) .. .. 17,931 23,730 21,044 23,693 26,331 25,368 25,682 29,289 Public and publicly guaranteed .. .. 17,931 18,724 15,129 15,904 16,869 14,355 12,697 13,551 Private nonguaranteed .. .. 0 5,005 5,915 7,789 9,462 11,014 12,985 15,738 Use of IMF credit .. .. 330 171 160 0 0 0 0 0 Short-term debt .. .. 2,941 3,359 3,357 4,780 3,543 4,152 4,623 5,668 of 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 0 Memo: 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 0 Memo: 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 13,056 Long-term debt .. .. 2,282 4,392 4,629 7,054 9,233 6,283 13,455 13,056 IMF purchases .. .. 173 0 0 0 0 0 0 0 Principal repayments .. .. 2,546 6,544 5,992 5,759 5,991 6,443 12,275 13,560 Long-term debt .. .. 2,216 6,340 5,992 5,598 5,991 6,443 12,275 13,560 IMF repurchases .. .. 330 203 0 161 0 0 0 0 Net flows on debt .. .. -457 -1,995 -1,365 2,718 2,005 449 1,651 542 of which short-term debt .. .. -366 156 -2 1,423 -1,238 609 471 1,046 Interest payments (INT) .. .. 1,678 1,815 1,685 1,494 1,448 1,494 1,453 1,310 Long-term debt .. .. 1,528 1,618 1,516 1,297 1,303 1,324 1,287 1,180 IMF charges .. .. 35 17 8 2 0 0 0 0 Short-term debt .. .. 115 180 161 195 145 170 166 130 Net transfers on debt .. .. -2,135 -3,811 -3,049 1,224 558 -1,045 197 -768 Total debt service paid (TDS) .. .. 4,224 8,359 7,676 7,253 7,438 7,937 13,729 14,870 Long-term debt .. .. 3,745 7,958 7,507 6,895 7,293 7,767 13,562 14,740 IMF repurchases and charges .. .. 364 221 8 163 0 0 0 0 Short-term debt (interest only) .. .. 115 180 161 195 145 170 166 130 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 380 883 1,949 4,183 6,559 1,266 4,096 336 Net flow of long-term debt (ex. IMF) .. .. 66 -1,948 -1,363 1,456 3,243 -160 1,180 -503 Foreign direct investment (net) .. .. 311 2,363 2,224 2,084 2,019 1,694 2,595 854 Portfolio equity flows .. .. 0 359 1,004 556 1,191 -416 134 -137 Grants (excluding technical coop.) .. .. 3 110 84 88 106 147 187 123 Memo: 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 -1,957 Interest on long-term debt .. .. 1,528 1,618 1,516 1,297 1,303 1,324 1,287 1,180 Profit remittances on FDI .. .. 37 281 458 963 858 832 830 1,113 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 31,601 43,709 44,304 45,177 46,414 45,108 50,345 64,263 Exports of goods, serv. & inc. (XGS) .. .. 12,315 23,165 26,634 30,705 32,171 35,984 39,917 43,854 Worker remit. & comp. of employees .. .. 0 166 213 217 209 274 293 271 Imports of goods & services (MGS) .. .. 12,724 24,302 27,503 33,150 34,986 39,149 41,978 46,906 International reserves (RES) .. .. 1,185 9,757 8,437 9,348 10,983 11,217 10,755 10,383 Current account balance .. .. 379 -1,150 -684 -2,228 -2,446 -2,900 -1,754 -2,644 4. DEBT INDICATORS EDT / XGS (%) .. .. 172.2 117.7 92.2 92.7 92.9 82.0 75.9 79.7 EDT / GNI (%) .. .. 67.1 62.4 55.4 63.0 64.4 65.4 60.2 54.4 TDS / XGS (%) .. .. 34.3 36.1 28.8 23.6 23.1 22.1 34.4 33.9 INT / XGS (%) .. .. 13.6 7.8 6.3 4.9 4.5 4.2 3.6 3.0 INT / GNI (%) .. .. 5.3 4.2 3.8 3.3 3.1 3.3 2.9 2.0 RES / EDT (%) .. .. 5.6 35.8 34.4 32.8 36.8 38.0 35.5 29.7 RES / MGS (months) .. .. 1.1 4.8 3.7 3.4 3.8 3.4 3.1 2.7 Short-term / EDT (%) .. .. 13.9 12.3 13.7 16.8 11.9 14.1 15.3 16.2 Concessional / EDT (%) .. .. 0.2 1.7 1.8 1.8 1.6 1.0 0.4 0.3 Multilateral / EDT (%) .. .. 11.8 10.2 10.1 5.3 5.2 4.8 4.5 4.8 261 HUNGARY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 17,931 23,730 21,044 23,693 26,331 25,368 25,682 29,289 Public and publicly guaranteed .. .. 17,931 18,724 15,129 15,904 16,869 14,355 12,697 13,551 Official 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 95 Private 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 0 Private 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 15,539 Memo: 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 13,056 Public and publicly guaranteed .. .. 2,282 1,958 1,151 3,079 3,717 1,115 1,440 693 Official 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 2 Private 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 0 Private 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 12,364 Memo: 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 13,560 Public and publicly guaranteed .. .. 2,216 4,823 2,985 3,310 2,191 2,512 2,280 1,463 Official 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 36 Private 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 0 Private 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 12,097 Memo: 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 -503 Public and publicly guaranteed .. .. 66 -2,865 -1,834 -231 1,527 -1,397 -840 -770 Official 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 -34 Private 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 0 Private 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 2,020 267 Memo: IBRD .. .. 160 -419 -33 -802 -24 -57 -10 -63 IDA .. .. 0 0 0 0 0 0 0 0 262 HUNGARY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 1,528 1,618 1,516 1,297 1,303 1,324 1,287 1,180 Public and publicly guaranteed .. .. 1,528 1,550 1,179 978 1,002 942 846 693 Official 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 10 Private 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 0 Private nonguaranteed .. .. 0 68 337 319 300 382 441 487 Bonds .. .. 0 0 0 1 10 18 17 18 Commercial banks and other .. .. 0 68 337 318 290 364 424 470 Memo: 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 -1,684 Public and publicly guaranteed .. .. -1,462 -4,414 -3,013 -1,209 524 -2,339 -1,686 -1,463 Official 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 -44 Private 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 0 Private 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 -203 Memo: 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 14,740 Public and publicly guaranteed .. .. 3,745 6,373 4,164 4,288 3,193 3,454 3,126 2,156 Official 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 46 Private 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 0 Private 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 12,567 Memo: 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 1,256 983 619 596 549 Official creditors .. .. 2,050 1,107 987 713 696 407 329 156 Private creditors .. .. 895 358 309 543 288 212 267 392 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 55.1 62.8 Deutsche mark .. .. 26.3 29.5 30.6 34.0 26.6 22.1 .. .. French franc .. .. 0.1 1.5 1.6 2.2 1.2 1.2 .. .. Japanese yen .. .. 25.4 37.7 37.4 33.3 29.6 26.4 22.8 18.9 Pound sterling .. .. 0.3 0.6 0.7 0.7 0.6 0.7 0.8 0.8 Swiss franc .. .. 3.9 2.6 3.0 3.0 1.3 0.6 0.6 0.6 U.S.dollars .. .. 18.5 10.7 18.7 19.4 20.9 23.3 19.2 15.6 Multiple currency .. .. 17.9 10.3 2.2 2.3 1.7 1.7 1.5 1.4 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 7.7 7.1 5.8 5.1 18.0 24.0 0.0 0.0 263 HUNGARY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 22.2 Official 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 24.5 Private 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 22.1 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 336 147 48 10 4 3 1 0 0 0 Principal 6,507 4,821 4,770 3,467 2,537 1,270 1,333 788 2,397 79 Interest 843 692 554 381 279 211 187 149 173 90 Official creditors Disbursements 76 45 17 10 4 3 1 0 0 0 Principal 147 134 157 179 174 274 144 127 91 63 Interest 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 16 Private creditors Disbursements 259 102 32 0 0 0 0 0 0 0 Principal 6,360 4,687 4,613 3,289 2,364 995 1,189 661 2,306 16 Interest 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 66 264 INDIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 8,427 20,695 83,628 93,466 94,317 97,637 98,313 99,098 97,516 104,429 Long-term debt (LDOD) 8,144 18,447 72,462 85,427 88,606 93,021 94,354 95,636 94,774 99,860 Public and publicly guaranteed 8,044 18,111 70,974 78,045 79,398 84,611 86,410 83,156 83,100 88,271 Private nonguaranteed 100 336 1,488 7,382 9,208 8,409 7,944 12,480 11,674 11,589 Use of IMF credit 0 977 2,623 1,313 664 288 26 0 0 0 Short-term debt 283 1,271 8,544 6,726 5,046 4,329 3,933 3,462 2,742 4,569 of 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 0 Memo: 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 0 Memo: 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 6,634 Long-term debt 930 2,469 6,590 6,682 7,619 10,730 5,619 10,527 4,273 6,634 IMF purchases 0 1,023 1,754 0 0 0 0 0 0 0 Principal repayments 549 781 3,376 7,616 7,549 6,964 6,324 6,686 5,478 9,344 Long-term debt 344 772 2,650 6,644 6,936 6,574 6,063 6,661 5,478 9,344 IMF repurchases 205 9 726 972 613 390 262 25 0 0 Net flows on debt 381 3,283 6,011 743 -1,610 3,049 -1,101 3,371 -1,924 -883 of which short-term debt 0 573 1,043 1,677 -1,680 -717 -396 -471 -720 1,827 Interest payments (INT) 198 645 4,811 4,364 4,864 5,120 3,782 4,182 3,849 3,784 Long-term debt 198 506 3,778 4,009 4,465 4,769 3,566 3,996 3,737 3,638 IMF charges 0 4 134 87 50 25 7 1 0 0 Short-term debt 0 134 899 268 349 327 209 185 112 146 Net transfers on debt 183 2,639 1,200 -3,621 -6,474 -2,072 -4,883 -811 -5,773 -4,667 Total debt service paid (TDS) 747 1,426 8,187 11,981 12,413 12,084 10,107 10,868 9,327 13,128 Long-term debt 542 1,278 6,429 10,653 11,401 11,342 9,628 10,657 9,215 12,982 IMF repurchases and charges 205 14 859 1,059 663 415 269 26 0 0 Short-term debt (interest only) 0 134 899 268 349 327 209 185 112 146 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 779 2,425 4,689 7,011 7,365 6,679 4,517 9,763 5,724 1,989 Net flow of long-term debt (ex. IMF) 586 1,697 3,940 38 683 4,156 -443 3,867 -1,204 -2,710 Foreign direct investment (net) 46 79 237 2,426 3,577 2,635 2,169 2,657 4,334 3,030 Portfolio equity flows 0 0 0 3,958 2,556 -601 2,317 2,774 2,041 967 Grants (excluding technical coop.) 147 649 512 589 549 490 475 466 554 702 Memo: 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 -3,949 Interest on long-term debt 198 506 3,778 4,009 4,465 4,769 3,566 3,996 3,737 3,638 Profit remittances on FDI 0 12 24 448 590 748 614 1,914 2,648 2,300 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 60,061 182,201 312,732 381,727 406,121 410,255 443,428 456,805 478,785 504,461 Exports of goods, serv. & inc. (XGS) .. 15,088 25,699 50,840 56,593 57,025 64,308 75,589 77,221 88,217 Worker remit. & comp. of employees 0 2,757 2,384 8,766 10,331 9,479 11,124 8,482 8,245 8,411 Imports of goods & services (MGS) .. 17,451 33,220 59,627 63,175 64,810 68,457 83,212 79,946 90,033 International reserves (RES) 1,023 12,010 5,637 24,889 28,385 30,647 36,005 41,059 49,051 71,608 Current account balance .. -1,785 -7,036 -5,956 -2,965 -6,903 -3,228 -2,640 1,761 4,656 4. DEBT INDICATORS EDT / XGS (%) .. 137.2 325.4 183.8 166.7 171.2 152.9 131.1 126.3 118.4 EDT / GNI (%) 14.0 11.4 26.7 24.5 23.2 23.8 22.2 21.7 20.4 20.7 TDS / XGS (%) .. 9.4 31.9 23.6 21.9 21.2 15.7 14.4 12.1 14.9 INT / XGS (%) .. 4.3 18.7 8.6 8.6 9.0 5.9 5.5 5.0 4.3 INT / GNI (%) 0.3 0.4 1.5 1.1 1.2 1.2 0.9 0.9 0.8 0.8 RES / EDT (%) 12.1 58.0 6.7 26.6 30.1 31.4 36.6 41.4 50.3 68.6 RES / MGS (months) .. 8.3 2.0 5.0 5.4 5.7 6.3 5.9 7.4 9.5 Short-term / EDT (%) 3.4 6.1 10.2 7.2 5.4 4.4 4.0 3.5 2.8 4.4 Concessional / EDT (%) 79.8 74.2 46.2 43.7 41.2 41.1 45.4 37.9 37.8 38.4 Multilateral / EDT (%) 18.5 29.3 26.0 31.4 31.2 31.3 31.9 30.7 31.8 28.2 265 INDIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 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 99,860 Public and publicly guaranteed 8,044 18,111 70,974 78,045 79,398 84,611 86,410 83,156 83,100 88,271 Official 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 18,796 Private 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 1,133 690 573 Private 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 10,406 Memo: 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 6,634 Public and publicly guaranteed 905 2,184 6,376 5,897 5,733 10,230 5,319 10,227 3,973 6,094 Official 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 1,000 850 Private 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 1 Private 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 0 515 200 300 300 300 300 Memo: 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 9,344 Public and publicly guaranteed 319 681 2,332 6,404 6,644 6,282 5,155 6,412 5,209 8,724 Official 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 1,009 Private 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 1,008 222 479 145 Private 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 91 318 240 143 143 143 214 224 250 Memo: 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 -2,710 Public and publicly guaranteed 586 1,503 4,044 -506 -911 3,947 164 3,815 -1,236 -2,630 Official 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 -159 Private 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 -144 Private 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 50 Memo: IBRD 1 103 747 -154 -278 -307 -254 -288 79 -2,383 IDA 60 637 648 672 580 578 486 688 766 430 266 INDIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 198 506 3,778 4,009 4,465 4,769 3,566 3,996 3,737 3,638 Public and publicly guaranteed 192 476 3,643 3,583 4,292 4,302 3,064 3,338 3,395 3,472 Official 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 110 236 634 614 539 522 524 469 433 416 Private 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 19 Private 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 2 Memo: 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 -6,348 Public and publicly guaranteed 394 1,027 401 -4,090 -5,203 -354 -2,900 477 -4,631 -6,102 Official 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 -574 Private 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 -163 Private 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 48 Memo: 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 12,982 Public and publicly guaranteed 511 1,157 5,975 9,987 10,935 10,584 8,219 9,751 8,604 12,195 Official 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 1,425 Private 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 1,271 284 530 164 Private 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 31 121 453 578 162 344 402 647 352 252 Memo: 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 15,848 Official creditors 1,730 7,695 22,840 18,677 17,830 15,434 13,853 15,161 15,626 15,471 Private creditors 162 904 3,623 3,950 5,615 9,705 8,786 1,172 1,005 377 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.5 6.1 Deutsche mark 9.4 9.9 6.0 6.0 5.3 5.4 4.9 3.9 .. .. French franc 1.3 2.3 1.7 1.9 1.8 1.6 1.3 1.2 .. .. Japanese yen 5.1 6.7 9.7 13.3 12.2 13.5 15.3 11.4 11.2 11.8 Pound sterling 24.1 26.6 6.1 4.3 4.1 3.9 3.6 3.7 3.5 3.2 Swiss franc 0.3 0.1 0.6 0.6 0.5 0.4 0.3 0.3 0.4 0.4 U.S.dollars 40.2 39.0 60.7 56.4 60.0 60.6 61.3 68.5 70.4 73.6 Multiple currency 6.2 6.4 11.0 14.0 13.0 11.8 10.9 9.1 7.9 3.9 Special drawing rights 0.0 0.0 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 All other currencies 13.4 9.0 3.9 3.3 2.8 2.5 2.2 1.7 0.8 0.8 267 INDIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 55.0 Official 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 57.8 Private 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 27.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 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 89 Principal 10,547 6,070 10,921 5,394 6,027 4,405 3,382 3,211 3,204 3,159 Interest 3,809 3,528 3,713 3,222 3,125 3,022 2,927 2,831 2,741 2,651 Official creditors Disbursements 4,448 3,441 2,441 1,841 1,263 846 539 282 189 89 Principal 2,877 2,932 2,845 3,105 3,178 3,148 3,136 3,082 3,094 3,092 Interest 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 475 458 454 472 465 461 429 396 362 327 Private creditors Disbursements 232 100 31 11 2 1 0 0 0 0 Principal 7,671 3,139 8,076 2,289 2,849 1,258 246 129 110 67 Interest 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 782 541 755 287 247 201 186 172 157 142 268 INDONESIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 4,528 20,938 69,872 128,937 136,161 151,236 151,201 144,407 134,044 132,208 Long-term debt (LDOD) 4,043 18,163 58,242 96,706 100,326 122,033 120,923 110,934 103,123 100,037 Public and publicly guaranteed 3,582 15,021 47,982 60,012 55,857 67,305 73,658 69,765 68,717 70,011 Private nonguaranteed 461 3,142 10,261 36,694 44,469 54,728 47,265 41,169 34,405 30,026 Use of IMF credit 138 0 494 0 2,970 9,090 10,248 10,838 9,113 8,861 Short-term debt 346 2,775 11,135 32,230 32,865 20,113 20,029 22,635 21,808 23,309 of 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 6,401 Memo: 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 3,000 Memo: 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 5,200 Long-term debt 636 3,246 10,024 20,973 19,425 10,619 8,078 6,043 4,289 3,774 IMF purchases 38 0 0 0 3,029 5,772 1,382 1,123 394 1,426 Principal repayments 123 1,632 5,969 14,896 13,010 11,202 11,711 9,296 9,633 12,925 Long-term debt 120 1,632 5,812 14,896 13,010 11,202 11,711 9,296 7,881 10,548 IMF repurchases 3 0 157 0 0 0 0 0 1,752 2,376 Net flows on debt 551 2,280 7,216 12,341 10,078 -4,561 -3,834 -659 -5,977 -6,998 of which short-term debt 0 667 3,160 6,264 635 -9,750 -1,584 1,471 -1,028 727 Interest payments (INT) 46 1,452 3,978 6,647 6,726 7,107 5,954 7,385 5,900 4,046 Long-term debt 46 1,182 3,413 5,114 5,116 5,601 4,599 5,702 4,566 3,183 IMF charges 0 0 59 0 0 182 366 526 470 263 Short-term debt 0 270 506 1,533 1,610 1,324 989 1,157 863 600 Net transfers on debt 506 828 3,238 5,694 3,352 -11,668 -9,788 -8,044 -11,675 -11,044 Total debt service paid (TDS) 169 3,084 9,946 21,543 19,737 18,310 17,665 16,681 15,532 16,971 Long-term debt 165 2,814 9,224 20,010 18,126 16,804 16,310 14,998 12,447 13,732 IMF repurchases and charges 3 0 216 0 0 182 366 526 2,222 2,639 Short-term debt (interest only) 0 270 506 1,533 1,610 1,324 989 1,157 863 600 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 686 1,902 5,589 14,280 6,314 -5,031 -6,733 -8,453 -6,167 -7,114 Net flow of long-term debt (ex. IMF) 517 1,613 4,213 6,077 6,414 -583 -3,633 -3,254 -3,592 -6,774 Foreign direct investment (net) 83 180 1,093 6,194 4,677 -356 -2,745 -4,550 -3,278 -1,513 Portfolio equity flows 0 0 0 1,819 -4,987 -4,371 -782 -1,020 443 877 Grants (excluding technical coop.) 87 109 283 190 210 279 427 371 261 297 Memo: 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 -10,440 Interest on long-term debt 46 1,182 3,413 5,114 5,116 5,601 4,599 5,702 4,566 3,183 Profit remittances on FDI 0 0 2,192 964 1,341 1,145 1,318 2,039 1,171 142 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 9,698 74,806 109,209 221,276 209,440 90,063 129,338 139,253 135,594 164,554 Exports of goods, serv. & inc. (XGS) .. .. 29,870 58,793 65,819 57,719 58,841 74,265 65,914 67,924 Worker remit. & comp. of employees 0 0 166 796 725 959 1,109 1,190 1,046 1,259 Imports of goods & services (MGS) .. .. 33,110 66,597 71,017 54,002 53,861 66,906 59,489 60,966 International reserves (RES) 160 6,803 8,657 19,396 17,487 23,606 27,345 29,353 28,104 32,032 Current account balance .. .. -2,988 -7,663 -4,889 4,096 5,785 7,985 6,899 7,450 4. DEBT INDICATORS EDT / XGS (%) .. .. 233.9 219.3 206.9 262.0 257.0 194.4 203.4 194.6 EDT / GNI (%) 46.7 28.0 64.0 58.3 65.0 167.9 116.9 103.7 98.9 80.3 TDS / XGS (%) .. .. 33.3 36.6 30.0 31.7 30.0 22.5 23.6 25.0 INT / XGS (%) .. .. 13.3 11.3 10.2 12.3 10.1 9.9 9.0 6.0 INT / GNI (%) 0.5 1.9 3.6 3.0 3.2 7.9 4.6 5.3 4.4 2.5 RES / EDT (%) 3.5 32.5 12.4 15.0 12.8 15.6 18.1 20.3 21.0 24.2 RES / MGS (months) .. .. 3.1 3.5 3.0 5.2 6.1 5.3 5.7 6.3 Short-term / EDT (%) 7.7 13.3 15.9 25.0 24.1 13.3 13.2 15.7 16.3 17.6 Concessional / EDT (%) 62.2 36.4 26.4 20.3 17.7 18.4 21.3 21.0 21.0 24.0 Multilateral / EDT (%) 0.1 8.8 20.4 13.4 11.6 11.8 13.1 13.8 14.5 14.7 269 INDONESIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 4,043 18,163 58,242 96,706 100,326 122,033 120,923 110,934 103,123 100,037 Public and publicly guaranteed 3,582 15,021 47,982 60,012 55,857 67,305 73,658 69,765 68,717 70,011 Official 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 30,085 Private 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 2,888 Private 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 25,516 Memo: 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 3,774 Public and publicly guaranteed 441 2,551 5,009 7,532 6,295 7,405 6,078 3,693 2,289 2,124 Official 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 1,134 981 587 Private 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 23 Private 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 1,500 Memo: 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 10,548 Public and publicly guaranteed 59 939 4,588 8,128 5,702 4,161 5,473 3,896 3,123 4,320 Official 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 1,109 997 334 296 606 Private 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 48 120 Private 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 5,608 Memo: 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 -6,774 Public and publicly guaranteed 383 1,611 422 -595 594 3,243 605 -203 -834 -2,196 Official 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 -18 Private 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 -97 Private 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 -4,108 Memo: IBRD 0 301 436 -503 -245 479 733 290 -280 -706 IDA 3 40 -11 -20 -20 -21 -12 33 12 60 270 INDONESIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 46 1,182 3,413 5,114 5,116 5,601 4,599 5,702 4,566 3,183 Public and publicly guaranteed 25 824 2,808 3,620 3,215 2,970 3,775 3,767 3,585 2,287 Official 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 18 130 451 807 745 706 828 810 807 332 Private 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 56 Private 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 1,200 434 434 Memo: 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 -9,958 Public and publicly guaranteed 358 787 -2,386 -4,215 -2,621 273 -3,170 -3,970 -4,419 -4,483 Official 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 -350 Private 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 -153 Private 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 -4,542 Memo: 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 13,732 Public and publicly guaranteed 83 1,763 7,395 11,747 8,916 7,132 9,248 7,663 6,708 6,607 Official 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 1,103 937 Private 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 1,019 616 420 256 176 Private 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 6,042 Memo: 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 9,101 Official creditors 496 7,060 14,369 18,663 15,535 15,439 15,044 10,860 9,139 8,458 Private creditors 18 2,422 6,041 5,039 3,821 956 486 889 753 643 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 7.5 9.0 Deutsche mark 6.0 7.8 5.0 4.8 4.7 4.3 3.2 2.8 .. .. French franc 5.5 4.0 3.4 3.7 3.3 2.8 2.0 1.8 .. .. Japanese yen 8.0 20.0 34.6 34.5 32.9 32.4 35.5 32.9 27.9 28.2 Pound sterling 2.1 0.8 1.4 1.2 1.8 1.6 1.4 1.2 0.9 0.8 Swiss franc 0.6 0.7 0.4 0.8 0.8 0.6 0.5 0.6 0.6 0.6 U.S.dollars 46.3 43.5 20.9 24.3 27.2 47.5 47.0 50.5 57.3 55.6 Multiple currency 0.0 8.6 27.3 24.7 23.3 5.4 5.4 5.2 4.6 4.7 Special drawing rights 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.3 0.3 All other currencies 31.4 14.7 7.0 5.9 5.9 5.2 4.8 4.8 0.8 0.8 271 INDONESIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 124 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 41.8 Official 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 51.6 Private 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 10.3 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 3,707 2,277 1,372 801 454 231 138 52 32 21 Principal 15,691 12,828 10,312 8,941 8,045 5,887 5,538 4,922 3,736 4,179 Interest 4,901 4,460 3,950 3,414 2,993 2,457 2,114 1,229 1,034 895 Official creditors Disbursements 3,167 2,209 1,350 792 454 231 138 52 32 21 Principal 4,942 4,498 4,713 4,649 4,477 4,572 4,701 4,255 3,587 3,429 Interest 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 1,057 971 862 761 648 542 443 357 281 Private creditors Disbursements 540 68 22 9 0 0 0 0 0 0 Principal 10,749 8,330 5,599 4,292 3,567 1,315 837 667 148 750 Interest 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 1,011 855 148 106 103 272 IRAN, ISLAMIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 4,500 9,020 16,702 11,845 14,127 9,905 7,981 7,483 9,154 Long-term debt (LDOD) .. 4,500 1,797 11,947 8,492 9,624 6,287 4,973 5,465 6,797 Public and publicly guaranteed .. 4,500 1,797 11,711 8,285 7,712 5,732 4,710 5,295 6,578 Private nonguaranteed .. 0 0 236 207 1,912 556 263 170 219 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt .. 0 7,224 4,755 3,354 4,503 3,618 3,008 2,018 2,357 of 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 0 Memo: 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 0 Memo: 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 1,926 Long-term debt .. 264 139 943 924 3,259 1,296 1,469 1,917 1,926 IMF purchases 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 1,104 Long-term debt .. 527 225 5,153 5,286 2,256 4,602 2,637 881 1,104 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt .. -263 2,480 -4,094 -5,763 2,152 -4,191 -1,776 46 1,161 of which short-term debt .. 0 2,566 116 -1,401 1,149 -885 -609 -990 339 Interest payments (INT) .. 431 430 1,380 980 806 668 589 402 357 Long-term debt .. 431 28 1,113 792 603 425 409 301 298 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt .. 0 402 267 188 203 244 180 101 59 Net transfers on debt .. -694 2,050 -5,474 -6,743 1,347 -4,859 -2,365 -356 804 Total debt service paid (TDS) .. 959 655 6,533 6,266 3,062 5,270 3,225 1,283 1,460 Long-term debt .. 959 253 6,266 6,078 2,859 5,026 3,045 1,182 1,401 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) .. 0 402 267 188 203 244 180 101 59 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. -181 -371 -4,142 -4,251 1,057 -3,234 -1,092 1,121 891 Net flow of long-term debt (ex. IMF) .. -263 -86 -4,210 -4,362 1,003 -3,306 -1,167 1,036 822 Foreign direct investment (net) .. 81 -362 26 53 24 35 39 50 37 Portfolio equity flows .. 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. 1 76 42 58 30 37 36 35 32 Memo: 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 -1,501 820 594 Interest on long-term debt .. 431 28 1,113 792 603 425 409 301 298 Profit remittances on FDI .. 0 0 0 0 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 93,270 120,782 104,325 99,043 101,728 99,342 101,396 113,009 108,227 Exports of goods, serv. & inc. (XGS) .. 14,073 20,197 23,739 20,039 15,141 22,427 30,131 29,296 36,020 Worker remit. & comp. of employees .. 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 16,509 22,370 18,970 18,219 17,777 16,363 18,107 22,171 31,910 International 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 25.4 EDT / GNI (%) .. 4.8 7.5 16.0 12.0 13.9 10.0 7.9 6.6 8.5 TDS / XGS (%) .. 6.8 3.2 27.5 31.3 20.2 23.5 10.7 4.4 4.1 INT / XGS (%) .. 3.1 2.1 5.8 4.9 5.3 3.0 2.0 1.4 1.0 INT / GNI (%) .. 0.5 0.4 1.3 1.0 0.8 0.7 0.6 0.4 0.3 RES / 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 25.7 Concessional / EDT (%) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) 0.0 13.8 1.3 3.2 4.4 3.6 5.0 6.4 6.1 4.4 273 IRAN, ISLAMIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 4,500 1,797 11,947 8,492 9,624 6,287 4,973 5,465 6,797 Public and publicly guaranteed .. 4,500 1,797 11,711 8,285 7,712 5,732 4,710 5,295 6,578 Official 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 .. 264 110 616 765 725 629 512 429 525 Private 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 1,242 976 958 803 Private 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 1,912 556 263 170 219 Memo: 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 1,926 Public and publicly guaranteed .. 264 139 943 924 1,350 1,296 1,469 1,917 1,776 Official 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 89 177 Private 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 .. 261 109 213 408 420 363 200 291 143 Private 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 0 150 Memo: 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 1,104 Public and publicly guaranteed .. 527 225 5,075 5,256 2,053 3,245 2,344 788 1,003 Official 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 50 128 149 127 150 120 Private 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 .. 394 139 899 774 886 862 418 264 316 Private 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 93 101 Memo: 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 1,036 822 Public and publicly guaranteed .. -263 -86 -4,132 -4,332 -702 -1,949 -875 1,129 773 Official 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 57 Private 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 -173 Private 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 49 Memo: IBRD 0 -66 -67 110 49 -22 4 44 -25 -56 IDA 0 0 0 0 0 0 0 0 0 0 274 IRAN, ISLAMIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 431 28 1,113 792 603 425 409 301 298 Public and publicly guaranteed .. 431 28 1,093 777 492 394 393 291 292 Official 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 14 Private 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 54 Private 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 6 Memo: 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 -1,576 735 524 Public and publicly guaranteed .. -694 -114 -5,225 -5,109 -1,195 -2,343 -1,267 837 481 Official 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 43 Private 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 -227 Private 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 43 Memo: 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 1,401 Public and publicly guaranteed .. 959 253 6,168 6,033 2,545 3,639 2,737 1,079 1,294 Official 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 89 160 180 148 177 134 Private 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 1,022 960 484 316 370 Private 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 1,388 308 103 107 Memo: 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 4,546 Official creditors .. 63 250 1,351 1,038 695 571 1,393 1,200 943 Private creditors .. 1,109 1,262 3,383 2,905 2,491 3,216 3,636 3,870 3,603 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 23.8 34.8 Deutsche mark .. 15.5 0.0 13.8 13.4 9.2 6.7 6.5 .. .. French franc .. 8.8 0.7 2.4 2.4 2.0 1.4 0.7 .. .. Japanese yen .. 9.0 4.2 5.7 7.5 8.3 9.4 9.4 7.5 9.5 Pound sterling .. 0.9 0.0 0.0 0.0 0.0 0.1 0.6 0.5 0.5 Swiss franc .. 0.0 0.0 0.5 0.7 0.9 2.4 3.9 6.0 6.5 U.S.dollars .. 43.4 88.6 71.6 67.2 75.8 75.0 68.3 61.5 48.4 Multiple currency .. 13.8 6.4 3.3 5.1 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. 8.6 0.1 2.7 3.6 3.9 5.0 10.6 0.7 0.3 275 IRAN, ISLAMIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 22.6 Official 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 14.2 Private 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 26.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 2,380 1,324 544 183 51 26 15 11 6 1 Principal 1,817 1,683 1,389 1,269 1,159 998 902 745 528 414 Interest 295 278 239 194 150 112 80 52 33 18 Official creditors Disbursements 358 265 147 69 41 26 15 11 6 1 Principal 200 204 228 241 230 223 214 192 138 131 Interest 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 2 Private creditors Disbursements 2,022 1,060 396 113 10 0 0 0 0 0 Principal 1,617 1,479 1,161 1,028 929 776 688 552 390 284 Interest 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 3 276 JAMAICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 982 1,913 4,748 4,047 3,761 3,886 3,870 4,706 5,364 5,477 Long-term debt (LDOD) 982 1,505 4,045 3,311 2,958 3,150 3,002 3,858 4,399 4,678 Public and publicly guaranteed 160 1,430 4,011 3,188 2,770 2,971 2,836 3,756 4,305 4,592 Private nonguaranteed 822 75 34 123 188 179 166 103 94 86 Use of IMF credit 0 309 357 161 118 105 83 60 40 24 Short-term debt 0 98 346 575 685 631 784 787 925 775 of which interest arrears on LDOD 0 0 124 98 73 74 120 144 151 164 Official creditors 0 0 87 84 66 67 113 122 110 107 Private creditors 0 0 37 14 7 7 7 22 41 57 Memo: principal arrears on LDOD 0 27 157 200 158 163 158 131 87 78 Official creditors 0 8 84 165 133 137 133 110 66 68 Private creditors 0 19 73 35 25 26 24 20 21 11 Memo: export credits 0 0 651 612 506 225 212 209 181 140 TOTAL DEBT FLOWS Disbursements 184 363 348 223 190 404 209 906 1,037 610 Long-term debt 180 363 292 223 190 404 209 906 1,037 610 IMF purchases 4 0 56 0 0 0 0 0 0 0 Principal repayments 170 121 401 444 435 314 374 442 422 509 Long-term debt 170 102 290 372 400 298 355 423 404 490 IMF repurchases 0 19 111 72 35 17 19 19 18 19 Net flows on debt 13 234 -99 -135 -109 34 -58 442 745 -62 of which short-term debt 0 -8 -45 87 135 -55 108 -21 130 -163 Interest payments (INT) 63 159 260 213 193 175 192 255 312 333 Long-term debt 63 121 202 178 154 136 153 208 284 319 IMF charges 0 23 34 9 7 5 4 4 3 1 Short-term debt 0 15 24 26 33 34 35 44 26 13 Net transfers on debt -50 75 -359 -348 -303 -141 -250 187 434 -395 Total debt service paid (TDS) 234 280 662 657 628 490 566 698 734 842 Long-term debt 234 223 492 550 555 434 508 631 687 809 IMF repurchases and charges 0 42 145 81 41 22 23 23 21 20 Short-term debt (interest only) 0 15 24 26 33 34 35 44 26 13 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 174 301 257 73 34 568 402 996 1,317 639 Net flow of long-term debt (ex. IMF) 10 261 2 -150 -210 107 -146 482 633 119 Foreign direct investment (net) 162 28 138 184 203 369 524 468 614 481 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 13 117 39 41 93 25 45 70 38 Memo: 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 10 Interest on long-term debt 63 121 202 178 154 136 153 208 284 319 Profit remittances on FDI 0 114 189 108 179 184 228 290 301 310 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,344 2,450 4,158 5,918 6,800 6,922 6,881 7,085 7,145 7,274 Exports of goods, serv. & inc. (XGS) .. 1,472 2,461 4,100 4,189 4,195 4,324 4,571 4,510 4,579 Worker remit. & comp. of employees 0 96 229 690 715 742 775 878 1,047 1,241 Imports of goods & services (MGS) .. 1,678 2,928 4,231 4,504 4,502 4,507 4,970 5,243 5,655 International reserves (RES) 139 105 168 880 682 709 555 1,054 1,901 1,645 Current account balance .. -136 -312 -143 -332 -334 -216 -367 -759 -1,119 4. DEBT INDICATORS EDT / XGS (%) .. 129.9 192.9 98.7 89.8 92.6 89.5 103.0 118.9 119.6 EDT / GNI (%) 73.1 78.1 114.2 68.4 55.3 56.1 56.2 66.4 75.1 75.3 TDS / XGS (%) .. 19.0 26.9 16.0 15.0 11.7 13.1 15.3 16.3 18.4 INT / XGS (%) .. 10.8 10.6 5.2 4.6 4.2 4.4 5.6 6.9 7.3 INT / GNI (%) 4.7 6.5 6.3 3.6 2.8 2.5 2.8 3.6 4.4 4.6 RES / EDT (%) 14.2 5.5 3.5 21.7 18.1 18.3 14.3 22.4 35.4 30.0 RES / MGS (months) .. 0.8 0.7 2.5 1.8 1.9 1.5 2.5 4.4 3.5 Short-term / EDT (%) 0.0 5.1 7.3 14.2 18.2 16.2 20.3 16.7 17.2 14.2 Concessional / EDT (%) 2.0 20.3 30.0 30.7 28.5 27.3 26.0 22.4 17.4 17.1 Multilateral / EDT (%) 3.0 14.9 24.7 27.8 26.8 26.3 27.0 25.9 22.6 25.4 277 JAMAICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 982 1,505 4,045 3,311 2,958 3,150 3,002 3,858 4,399 4,678 Public and publicly guaranteed 160 1,430 4,011 3,188 2,770 2,971 2,836 3,756 4,305 4,592 Official 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 1,094 942 934 880 900 791 780 Private 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 64 Private 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 86 Memo: 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 1,037 610 Public and publicly guaranteed 15 338 292 223 120 404 209 906 1,037 610 Official 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 18 Private 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 12 Private 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 0 Memo: IBRD 7 55 35 41 26 31 64 98 91 84 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 170 102 290 372 400 298 355 423 404 490 Public and publicly guaranteed 6 92 281 367 395 289 342 360 395 482 Official creditors 2 37 205 295 356 255 244 273 281 205 Multilateral 1 11 100 124 136 111 116 122 109 109 Concessional 0 0 8 9 23 10 10 10 15 8 Bilateral 1 26 105 171 220 144 128 151 172 96 Concessional 1 2 19 67 97 64 68 76 80 68 Private creditors 4 55 76 73 39 34 98 86 114 277 Bonds 2 9 0 0 0 0 65 13 0 230 Commercial banks 2 16 1 65 24 27 31 47 103 36 Other private 0 31 75 8 15 6 2 27 12 10 Private nonguaranteed 164 10 8 5 5 9 13 64 9 9 Bonds 0 0 0 0 0 0 0 55 0 0 Commercial banks and other 164 10 8 5 5 9 13 9 9 9 Memo: IBRD 1 6 62 80 72 72 75 60 52 44 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 10 261 2 -150 -210 107 -146 482 633 119 Public and publicly guaranteed 9 246 10 -145 -275 115 -133 546 642 128 Official 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 -50 Private 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 2 Private 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 -9 Memo: IBRD 6 50 -26 -39 -46 -41 -11 37 40 40 IDA 0 0 0 0 0 0 0 0 0 0 278 JAMAICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 63 121 202 178 154 136 153 208 284 319 Public and publicly guaranteed 9 115 200 167 141 124 141 194 273 310 Official creditors 2 45 165 148 123 108 100 120 114 98 Multilateral 1 16 85 75 69 60 58 65 70 66 Concessional 0 2 5 3 5 3 3 3 5 4 Bilateral 1 29 79 74 54 47 42 55 43 32 Concessional 1 10 16 33 25 26 24 25 28 23 Private creditors 7 69 35 19 18 16 41 74 159 212 Bonds 6 2 0 2 3 3 29 50 142 197 Commercial banks 1 55 20 15 14 12 11 18 14 10 Other private 0 13 15 2 2 1 1 7 3 4 Private nonguaranteed 54 7 3 11 13 12 12 13 10 10 Bonds 0 0 0 5 5 5 5 2 0 0 Commercial banks and other 54 7 3 6 8 8 8 11 10 10 Memo: IBRD 1 13 58 41 34 28 24 22 22 21 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -54 140 -200 -328 -364 -29 -299 274 350 -200 Public and publicly guaranteed -1 131 -189 -312 -416 -8 -274 351 369 -182 Official 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 -73 Private 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 -2 Private 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 -18 Memo: IBRD 5 37 -85 -80 -80 -68 -35 15 18 19 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 234 223 492 550 555 434 508 631 687 809 Public and publicly guaranteed 15 206 481 535 537 412 483 554 669 791 Official creditors 4 82 370 443 480 363 344 393 395 303 Multilateral 2 27 186 199 206 172 174 187 179 175 Concessional 0 2 13 12 29 13 13 14 20 12 Bilateral 2 55 184 244 274 191 170 206 215 128 Concessional 2 12 35 101 122 91 92 100 109 91 Private creditors 11 124 112 92 57 49 139 161 274 488 Bonds 7 10 0 2 3 3 94 63 142 427 Commercial banks 4 70 22 80 38 39 42 64 117 47 Other private 0 44 90 10 16 7 2 34 15 14 Private nonguaranteed 218 17 11 16 18 21 25 77 19 18 Bonds 0 0 0 5 5 5 5 57 0 0 Commercial banks and other 218 17 11 11 13 17 21 20 19 18 Memo: IBRD 2 18 120 121 106 99 99 83 73 65 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 42 335 845 1,119 1,305 1,298 1,208 702 694 664 Official creditors 42 323 733 974 959 944 852 610 647 638 Private creditors 0 11 113 145 347 355 356 91 47 27 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 13.6 14.8 Deutsche mark 0.0 0.7 2.0 3.2 3.0 2.8 2.3 2.2 .. .. French franc 0.0 1.1 0.8 1.2 1.0 0.9 0.7 0.5 .. .. Japanese yen 0.0 0.6 4.8 10.1 9.8 9.8 11.6 7.1 5.3 5.1 Pound sterling 47.6 8.5 5.8 4.7 4.0 3.4 2.9 2.0 1.8 1.8 Swiss franc 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 27.7 58.5 49.8 45.6 48.1 51.8 51.5 61.6 65.9 66.1 Multiple currency 18.7 17.1 27.2 26.7 26.3 23.5 23.6 15.7 12.1 10.6 Special drawing rights 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.1 0.1 All other currencies 6.0 13.2 9.7 8.4 7.8 7.6 7.1 10.7 1.3 1.4 279 JAMAICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 469 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 314 0 0 0 0 0 0 0 Principal rescheduled .. .. 99 0 0 0 0 0 0 0 Official .. .. 96 0 0 0 0 0 0 0 Private .. .. 3 0 0 0 0 0 0 0 Interest rescheduled .. .. 54 0 0 0 0 0 0 0 Official .. .. 54 0 0 0 0 0 0 0 Private .. .. 1 0 0 0 0 0 0 0 Debt forgiven .. .. 0 0 0 0 7 4 3 3 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 24 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 15.6 Official 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 39.7 Private 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 -3.3 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 177 163 115 85 52 30 17 11 6 4 Principal 515 491 538 276 482 251 238 205 568 148 Interest 328 299 258 235 223 183 171 160 128 98 Official creditors Disbursements 160 156 113 84 52 30 17 11 6 4 Principal 232 225 222 227 211 214 203 181 154 134 Interest 106 101 94 86 77 68 59 50 42 36 Bilateral creditors Disbursements 44 33 18 11 6 3 1 0 0 0 Principal 107 104 109 101 84 81 72 62 57 52 Interest 37 34 29 25 21 18 15 13 10 9 Multilateral creditors Disbursements 116 124 95 74 46 27 15 10 6 4 Principal 124 121 113 126 127 133 131 119 97 82 Interest 69 67 65 61 56 50 44 37 32 28 Private creditors Disbursements 17 6 3 0 0 0 0 0 0 0 Principal 284 266 316 48 271 37 35 24 414 14 Interest 222 198 164 149 146 115 112 110 86 62 Commercial banks Disbursements 5 2 1 0 0 0 0 0 0 0 Principal 52 46 26 11 11 5 4 3 3 3 Interest 6 4 3 2 1 1 1 1 1 1 Other private Disbursements 13 4 2 0 0 0 0 0 0 0 Principal 232 220 290 37 260 32 31 21 411 11 Interest 216 194 161 147 145 114 111 109 85 61 280 JORDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 119 1,867 8,333 7,385 7,317 7,565 8,087 7,354 7,516 8,094 Long-term debt (LDOD) 119 1,381 7,202 6,448 6,147 6,502 6,718 6,186 6,636 7,076 Public and publicly guaranteed 119 1,381 7,202 6,448 6,147 6,502 6,718 6,186 6,636 7,076 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 94 340 427 469 498 462 433 483 Short-term debt 0 485 1,037 598 743 593 871 706 447 536 of 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 0 Memo: 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 2 Memo: export credits 0 0 2,366 1,388 2,811 1,058 956 1,058 1,057 1,159 TOTAL DEBT FLOWS Disbursements 15 369 691 935 715 482 485 196 653 433 Long-term debt 15 369 691 816 582 450 409 176 614 341 IMF purchases 0 0 0 119 133 32 76 20 39 93 Principal repayments 3 103 252 593 504 422 298 424 401 390 Long-term debt 3 103 242 570 481 413 262 393 349 311 IMF repurchases 0 0 10 22 22 9 36 31 51 79 Net flows on debt 12 462 604 141 357 -89 454 -404 60 132 of which short-term debt 0 196 165 -202 145 -149 267 -176 -192 89 Interest payments (INT) 2 106 377 385 360 450 251 309 256 195 Long-term debt 2 79 310 338 308 395 204 239 218 173 IMF charges 0 0 9 12 17 20 19 24 20 14 Short-term debt 0 28 58 35 35 34 28 46 18 8 Net transfers on debt 10 356 227 -244 -3 -539 203 -713 -196 -63 Total debt service paid (TDS) 5 209 628 978 864 872 549 734 657 585 Long-term debt 5 182 552 909 789 808 466 632 567 484 IMF repurchases and charges 0 0 18 34 39 30 55 56 72 93 Short-term debt (interest only) 0 28 58 35 35 34 28 46 18 8 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 53 1,427 1,159 427 758 622 563 938 546 417 Net flow of long-term debt (ex. IMF) 12 266 449 245 101 37 147 -217 265 30 Foreign direct investment (net) 0 34 38 16 361 310 158 787 100 56 Portfolio equity flows 0 0 0 0 0 0 22 -17 -145 -52 Grants (excluding technical coop.) 41 1,127 672 167 296 275 236 386 326 384 Memo: 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 88 448 225 358 699 326 244 Interest on long-term debt 2 79 310 338 308 395 204 239 218 173 Profit remittances on FDI 0 0 0 1 1 1 1 1 2 1 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 658 4,009 3,805 6,627 7,037 7,774 7,980 8,439 8,838 9,222 Exports of goods, serv. & inc. (XGS) .. 2,498 3,078 5,319 5,476 5,477 5,499 5,867 6,235 6,688 Worker remit. & comp. of employees 0 794 499 1,544 1,655 1,543 1,664 1,845 2,011 2,135 Imports of goods & services (MGS) .. 3,309 3,850 5,828 5,643 5,633 5,470 6,332 6,488 6,559 International reserves (RES) 258 1,745 1,139 2,055 2,436 1,988 2,770 3,441 3,174 4,116 Current account balance .. 374 -227 -222 29 14 405 59 -4 468 4. DEBT INDICATORS EDT / XGS (%) .. 74.7 270.8 138.8 133.6 138.1 147.1 125.3 120.5 121.0 EDT / GNI (%) 18.1 46.6 219.0 111.4 104.0 97.3 101.3 87.1 85.0 87.8 TDS / XGS (%) .. 8.4 20.4 18.4 15.8 15.9 10.0 12.5 10.5 8.7 INT / XGS (%) .. 4.3 12.2 7.2 6.6 8.2 4.6 5.3 4.1 2.9 INT / GNI (%) 0.3 2.7 9.9 5.8 5.1 5.8 3.1 3.7 2.9 2.1 RES / EDT (%) 216.2 93.5 13.7 27.8 33.3 26.3 34.3 46.8 42.2 50.9 RES / MGS (months) .. 6.3 3.5 4.2 5.2 4.2 6.1 6.5 5.9 7.5 Short-term / EDT (%) 0.0 26.0 12.4 8.1 10.2 7.8 10.8 9.6 5.9 6.6 Concessional / EDT (%) 91.5 38.3 29.8 43.1 42.5 46.0 46.8 47.9 43.4 42.0 Multilateral / EDT (%) 7.6 8.5 10.6 18.6 19.5 21.5 22.2 23.2 24.3 24.9 281 JORDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 119 1,381 7,202 6,448 6,147 6,502 6,718 6,186 6,636 7,076 Public and publicly guaranteed 119 1,381 7,202 6,448 6,147 6,502 6,718 6,186 6,636 7,076 Official 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 2,768 Private 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 1,784 775 627 522 449 356 306 282 Private 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 0 Memo: IBRD 0 26 516 777 749 745 835 798 886 1,020 IDA 9 76 77 67 65 62 60 57 55 52 DISBURSEMENTS 15 369 691 816 582 450 409 176 614 341 Public and publicly guaranteed 15 369 691 816 582 450 409 176 614 341 Official creditors 10 326 376 816 582 450 409 176 614 341 Multilateral 0 54 142 369 243 272 327 80 280 256 Concessional 0 18 10 114 90 85 127 32 41 54 Bilateral 10 272 234 447 339 178 81 96 334 85 Concessional 10 106 223 402 319 178 69 53 256 57 Private creditors 4 44 315 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 15 73 0 0 0 0 0 0 0 Other private 4 29 241 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 22 123 169 94 36 160 38 161 166 IDA 0 9 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 3 103 242 570 481 413 262 393 349 311 Public and publicly guaranteed 3 103 242 570 481 413 262 393 349 311 Official creditors 2 53 142 411 349 290 194 238 280 277 Multilateral 0 1 94 122 116 112 126 124 140 151 Concessional 0 1 12 22 23 22 20 27 38 46 Bilateral 2 52 48 289 233 178 68 114 140 126 Concessional 2 23 32 279 208 140 36 93 116 92 Private creditors 0 50 100 159 133 123 68 155 70 34 Bonds 0 0 0 5 10 10 9 95 45 10 Commercial banks 0 46 69 117 98 58 38 19 0 0 Other private 0 4 31 38 25 55 21 41 24 24 Private 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 0 Memo: IBRD 0 0 52 78 69 64 65 53 55 56 IDA 0 0 1 2 2 2 3 3 3 3 NET FLOWS ON DEBT 12 266 449 245 101 37 147 -217 265 30 Public and publicly guaranteed 12 266 449 245 101 37 147 -217 265 30 Official 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 -35 Private 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 -24 Private 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 0 Memo: IBRD 0 22 71 91 25 -27 95 -15 106 111 IDA 0 9 -1 -2 -2 -2 -3 -3 -3 -3 282 JORDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 2 79 310 338 308 395 204 239 218 173 Public and publicly guaranteed 2 79 310 338 308 395 204 239 218 173 Official creditors 1 43 123 247 235 318 139 158 171 138 Multilateral 0 5 54 66 70 76 84 91 92 80 Concessional 0 3 6 9 14 18 21 23 24 25 Bilateral 1 38 69 182 166 242 55 67 79 58 Concessional 1 13 57 159 146 226 43 47 43 38 Private creditors 0 36 187 91 73 77 65 80 47 35 Bonds 0 0 14 40 39 43 45 46 34 28 Commercial banks 0 32 67 22 15 8 4 1 0 0 Other private 0 4 106 29 18 26 16 33 13 7 Private 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 0 Memo: IBRD 0 1 37 48 47 46 48 53 50 39 IDA 0 0 1 1 0 0 0 0 0 0 NET TRANSFERS ON DEBT 10 188 139 -93 -207 -358 -57 -456 47 -143 Public and publicly guaranteed 10 188 139 -93 -207 -358 -57 -456 47 -143 Official 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 -73 Private 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 -31 Private 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 0 Memo: IBRD 0 21 33 43 -22 -74 47 -68 56 72 IDA 0 8 -2 -3 -3 -3 -3 -3 -3 -3 DEBT SERVICE (LTDS) 5 182 552 909 789 808 466 632 567 484 Public and publicly guaranteed 5 182 552 909 789 808 466 632 567 484 Official creditors 4 96 264 658 584 608 332 396 450 414 Multilateral 0 6 148 187 185 188 210 215 231 231 Concessional 0 4 18 31 37 40 41 51 62 71 Bilateral 4 90 116 471 399 420 123 181 219 184 Concessional 4 35 89 438 354 366 79 140 159 130 Private creditors 1 86 288 251 205 200 133 236 117 69 Bonds 0 0 14 45 49 54 54 141 80 38 Commercial banks 0 78 136 139 113 65 42 20 0 0 Other private 1 8 137 67 43 81 37 75 37 31 Private 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 0 Memo: IBRD 0 1 89 127 116 110 114 106 105 94 IDA 0 1 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 1,038 825 Official creditors 61 1,135 1,119 1,444 1,048 1,124 1,121 1,282 1,038 825 Private creditors 12 217 351 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 16.8 19.1 Deutsche mark 8.7 11.4 7.7 7.4 6.6 7.0 6.0 5.7 .. .. French franc 2.6 2.2 3.4 7.0 7.0 7.4 6.5 6.8 .. .. Japanese yen 0.0 1.2 5.8 24.5 24.5 26.2 28.7 27.5 21.7 21.4 Pound sterling 32.6 6.9 7.9 5.4 4.6 3.9 3.4 3.4 8.0 8.1 Swiss franc 0.0 0.0 0.8 0.4 0.4 0.4 0.4 0.4 0.5 0.5 U.S.dollars 30.8 56.9 45.7 28.6 28.3 28.3 28.8 29.3 30.9 29.9 Multiple currency 0.0 4.7 8.2 13.5 13.6 10.1 9.0 8.9 7.5 6.9 Special drawing rights 0.0 0.0 2.8 0.7 1.1 1.3 1.1 0.9 0.8 0.6 All other currencies 25.3 16.8 17.8 12.5 13.9 15.4 16.1 17.1 13.8 13.5 283 JORDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 350 387 223 211 232 194 567 213 Debt stock rescheduled .. .. 0 0 0 0 0 0 142 0 Principal rescheduled .. .. 350 328 175 147 139 90 252 113 Official .. .. 193 105 88 87 93 60 231 94 Private .. .. 157 223 87 60 46 29 21 19 Interest rescheduled .. .. 0 59 48 63 76 62 172 100 Official .. .. 0 27 23 47 55 45 138 69 Private .. .. 0 33 25 17 22 17 34 30 Debt forgiven .. .. 0 11 34 0 2 28 92 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 0 0 0 0 0 120 44 66 of which debt buyback .. .. 0 0 0 0 0 85 35 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.7 7.3 4.5 5.1 4.5 4.1 5.0 4.8 2.2 2.1 Maturity (years) 23.4 15.4 19.9 19.4 19.5 19.7 18.3 19.5 21.3 16.0 Grace period (years) 5.0 4.0 6.5 5.7 5.9 5.6 5.0 6.4 3.4 4.9 Grant element (%) 42.6 16.5 39.0 32.2 35.6 38.6 31.6 35.1 47.7 46.7 Official creditors Interest (%) 2.6 7.3 3.9 5.1 4.5 4.1 5.0 4.8 2.2 2.1 Maturity (years) 31.4 16.0 21.8 19.4 19.5 19.7 18.3 19.5 21.3 16.0 Grace period (years) 6.4 4.3 7.4 5.7 5.9 5.6 5.0 6.4 3.4 4.9 Grant element (%) 56.7 17.2 44.4 32.2 35.6 38.6 31.6 35.1 47.7 46.7 Private creditors Interest (%) 6.2 7.2 8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 5.5 11.5 7.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.9 2.4 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 10.4 12.0 2.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 36 759 749 487 272 500 440 384 530 142 Official creditors 25 653 652 487 272 500 440 384 530 142 Private creditors 11 106 97 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 443 332 196 118 61 27 13 5 3 0 Principal 538 585 540 511 501 422 425 429 438 441 Interest 247 247 240 224 206 189 174 158 143 126 Official creditors Disbursements 443 332 196 118 61 27 13 5 3 0 Principal 476 498 500 475 468 406 411 415 426 428 Interest 204 208 206 192 176 161 146 131 116 101 Bilateral creditors Disbursements 281 187 100 56 23 8 5 1 0 0 Principal 285 300 301 286 281 224 230 237 251 259 Interest 123 130 133 124 115 106 98 90 81 72 Multilateral creditors Disbursements 162 145 95 62 37 19 8 4 3 0 Principal 190 199 198 188 187 183 181 178 174 168 Interest 81 78 73 68 61 55 48 42 35 29 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 62 86 41 37 33 15 14 14 13 13 Interest 44 39 34 32 30 29 28 27 26 25 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 62 86 41 37 33 15 14 14 13 13 Interest 44 39 34 32 30 29 28 27 26 25 284 KAZAKHSTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 2,922 4,078 6,084 6,122 11,805 14,372 17,538 Long-term debt (LDOD) .. .. .. 2,149 3,218 5,008 5,188 11,466 13,541 16,355 Public and publicly guaranteed .. .. .. 1,946 2,622 3,038 3,353 3,617 3,446 3,209 Private nonguaranteed .. .. .. 203 596 1,970 1,835 7,849 10,095 13,146 Use of IMF credit .. .. .. 552 511 653 460 0 0 0 Short-term debt .. .. .. 221 349 424 474 339 832 1,184 of 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 0 Memo: 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 0 Memo: 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 5,219 Long-term debt .. .. .. 787 1,487 1,820 1,364 3,057 4,785 5,219 IMF purchases .. .. .. 135 0 210 0 0 0 0 Principal repayments .. .. .. 192 273 718 1,078 2,594 2,622 3,390 Long-term debt .. .. .. 192 267 623 902 2,152 2,622 3,390 IMF repurchases .. .. .. 0 6 95 176 442 0 0 Net flows on debt .. .. .. 732 1,342 1,337 277 436 2,655 2,181 of which short-term debt .. .. .. 2 128 26 -9 -27 492 352 Interest payments (INT) .. .. .. 131 210 273 284 744 708 725 Long-term debt .. .. .. 98 170 231 243 713 685 693 IMF charges .. .. .. 22 24 23 22 11 0 0 Short-term debt .. .. .. 10 16 20 19 20 23 32 Net transfers on debt .. .. .. 601 1,132 1,064 -7 -307 1,946 1,456 Total debt service paid (TDS) .. .. .. 322 483 992 1,362 3,338 3,331 4,115 Long-term debt .. .. .. 290 437 854 1,145 2,865 3,307 4,083 IMF repurchases and charges .. .. .. 22 31 118 198 453 0 0 Short-term debt (interest only) .. .. .. 10 16 20 19 20 23 32 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 1,776 2,596 2,374 2,078 2,250 5,081 4,471 Net flow of long-term debt (ex. IMF) .. .. .. 596 1,220 1,196 462 905 2,162 1,829 Foreign direct investment (net) .. .. .. 1,137 1,321 1,151 1,587 1,283 2,835 2,583 Portfolio equity flows .. .. .. 0 0 0 0 19 55 39 Grants (excluding technical coop.) .. .. .. 44 54 26 28 44 28 20 Memo: 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 2,863 Interest on long-term debt .. .. .. 98 170 231 243 713 685 693 Profit remittances on FDI .. .. .. 119 155 97 274 934 1,033 916 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 20,853 21,856 21,837 16,346 17,150 21,013 23,604 Exports of goods, serv. & inc. (XGS) .. .. .. 7,023 7,815 6,870 7,030 10,624 10,541 11,956 Worker remit. & comp. of employees .. .. .. 0 0 0 0 67 85 111 Imports of goods & services (MGS) .. .. .. 7,832 8,689 8,218 7,358 10,134 11,800 12,658 International reserves (RES) .. .. .. 1,961 2,223 1,965 2,001 2,099 2,506 3,136 Current account balance .. .. .. -751 -799 -1,225 -171 676 -1,109 -696 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 41.6 52.2 88.6 87.1 111.1 136.3 146.7 EDT / GNI (%) .. .. .. 14.0 18.7 27.9 37.5 68.8 68.4 74.3 TDS / XGS (%) .. .. .. 4.6 6.2 14.4 19.4 31.4 31.6 34.4 INT / XGS (%) .. .. .. 1.9 2.7 4.0 4.0 7.0 6.7 6.1 INT / GNI (%) .. .. .. 0.6 1.0 1.3 1.7 4.3 3.4 3.1 RES / EDT (%) .. .. .. 67.1 54.5 32.3 32.7 17.8 17.4 17.9 RES / MGS (months) .. .. .. 3.0 3.1 2.9 3.3 2.5 2.5 3.0 Short-term / EDT (%) 0.0 0.0 0.0 7.6 8.6 7.0 7.7 2.9 5.8 6.7 Concessional / EDT (%) 0.0 0.0 0.0 4.4 3.9 4.2 6.3 3.5 2.7 2.8 Multilateral / EDT (%) 0.0 0.0 0.0 20.0 20.2 20.3 24.1 12.5 10.5 9.4 285 KAZAKHSTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 2,149 3,218 5,008 5,188 11,466 13,541 16,355 Public and publicly guaranteed .. .. .. 1,946 2,622 3,038 3,353 3,617 3,446 3,209 Official 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 .. .. .. 122 135 218 328 351 332 408 Private 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 56 Private 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 12,746 Memo: 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 5,219 Public and publicly guaranteed .. .. .. 639 991 485 747 623 228 266 Official 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 52 Private 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 0 Private 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 4,653 Memo: 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 3,390 Public and publicly guaranteed .. .. .. 151 151 192 449 215 254 646 Official 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 10 Private 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 31 Private 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 2,744 Memo: 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 1,829 Public and publicly guaranteed .. .. .. 488 840 294 298 408 -26 -380 Official 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 42 Private 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 -31 Private 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 1,909 Memo: IBRD .. .. .. 225 202 211 190 30 67 36 IDA .. .. .. 0 0 0 0 0 0 0 286 KAZAKHSTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 98 170 231 243 713 685 693 Public and publicly guaranteed .. .. .. 95 164 205 178 235 245 229 Official creditors .. .. .. 63 88 101 106 123 111 103 Multilateral .. .. .. 31 42 58 72 82 78 77 Concessional .. .. .. 0 0 0 0 1 1 1 Bilateral .. .. .. 32 46 43 33 41 32 27 Concessional .. .. .. 7 5 6 8 9 11 10 Private creditors .. .. .. 32 76 104 72 112 134 126 Bonds .. .. .. 0 22 48 47 90 109 109 Commercial banks .. .. .. 1 15 8 8 14 17 14 Other private .. .. .. 31 39 49 17 8 8 3 Private nonguaranteed .. .. .. 4 6 25 65 477 440 464 Bonds .. .. .. 0 0 0 11 11 11 27 Commercial banks and other .. .. .. 4 6 25 53 466 429 437 Memo: IBRD .. .. .. 24 34 44 52 62 53 51 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 497 1,050 966 219 192 1,477 1,136 Public and publicly guaranteed .. .. .. 394 676 88 120 173 -270 -609 Official 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 31 Private 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 -34 Private 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 1,472 Memo: 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 4,083 Public and publicly guaranteed .. .. .. 246 315 397 627 450 498 875 Official 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 21 Private 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 34 Private 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 3,182 Memo: 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 1,093 Official creditors .. .. .. 977 1,005 1,307 1,457 1,413 1,415 1,065 Private creditors .. .. .. 193 179 172 151 53 43 29 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 3.5 2.8 Deutsche mark .. .. .. 28.0 17.3 13.3 7.8 4.7 .. .. French franc .. .. .. 0.3 0.6 0.5 0.3 0.2 .. .. Japanese yen .. .. .. 15.1 11.1 13.2 15.7 13.7 12.7 13.5 Pound sterling .. .. .. 0.0 0.0 0.2 0.7 0.6 0.6 0.6 Swiss franc .. .. .. 0.0 0.0 0.1 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 23.4 44.2 47.1 53.6 61.4 63.9 60.2 Multiple currency .. .. .. 27.5 24.0 23.4 21.4 18.9 19.1 21.8 Special drawing rights .. .. .. 0.0 0.0 0.0 0.2 0.2 0.2 0.9 All other currencies .. .. .. 5.7 2.8 2.2 0.2 0.1 0.0 0.2 287 KAZAKHSTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 202 0 152 0 Debt stock rescheduled .. .. .. 0 0 0 185 0 147 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 .. .. .. 0 0 0 0 0 5 0 Official .. .. .. 0 0 0 0 0 5 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 18 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 19.2 Official 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 0.0 Private 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 19.2 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 412 243 174 119 74 39 22 4 3 2 Principal 2,972 3,619 2,905 2,888 2,702 248 273 262 209 196 Interest 638 529 346 240 152 83 72 62 52 43 Official creditors Disbursements 398 233 171 118 74 39 22 4 3 2 Principal 197 209 234 224 239 230 233 239 206 193 Interest 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 28 Private creditors Disbursements 14 9 4 2 0 0 0 0 0 0 Principal 2,775 3,410 2,671 2,664 2,463 17 40 23 3 3 Interest 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 0 288 KENYA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 478 3,387 7,058 6,811 6,456 6,808 6,450 6,159 5,562 6,031 Long-term debt (LDOD) 408 2,493 5,641 5,946 5,409 5,777 5,539 5,239 4,860 5,188 Public and publicly guaranteed 321 2,056 4,761 5,571 5,084 5,497 5,319 5,064 4,751 5,139 Private nonguaranteed 88 437 880 375 325 280 220 175 109 49 Use of IMF credit 0 254 482 337 250 196 131 127 99 88 Short-term debt 69 640 934 528 797 834 779 793 603 756 of 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 27 Memo: 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 64 117 107 135 Memo: export credits 0 0 1,540 1,102 1,093 511 378 385 347 406 TOTAL DEBT FLOWS Disbursements 78 714 778 404 185 318 265 437 176 220 Long-term debt 78 620 642 368 185 318 265 392 176 220 IMF purchases 0 94 136 36 0 0 0 44 0 0 Principal repayments 33 204 457 571 449 473 527 387 368 348 Long-term debt 29 195 352 510 382 410 467 345 345 329 IMF repurchases 4 9 105 61 67 63 60 42 24 18 Net flows on debt 45 718 615 -251 -13 -148 -328 90 -375 3 of which short-term debt 0 209 294 -84 251 7 -66 41 -182 130 Interest payments (INT) 17 229 333 274 214 197 174 139 110 105 Long-term debt 17 163 230 241 183 157 133 97 83 85 IMF charges 0 8 26 2 1 1 1 1 1 0 Short-term debt 0 58 78 30 29 39 40 41 26 19 Net transfers on debt 28 489 281 -525 -227 -344 -501 -49 -485 -102 Total debt service paid (TDS) 50 433 791 844 663 669 701 526 479 452 Long-term debt 46 359 582 752 565 567 600 442 428 414 IMF repurchases and charges 4 17 131 63 69 64 61 43 24 19 Short-term debt (interest only) 0 58 78 30 29 39 40 41 26 19 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 67 624 1,324 74 72 150 28 371 153 150 Net flow of long-term debt (ex. IMF) 49 424 290 -142 -197 -92 -202 48 -169 -109 Foreign direct investment (net) 14 79 57 13 40 42 42 127 50 50 Portfolio equity flows 0 0 0 8 27 1 -8 -6 2 0 Grants (excluding technical coop.) 3 121 977 196 202 199 196 202 269 209 Memo: 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 30 Interest on long-term debt 17 163 230 241 183 157 133 97 83 85 Profit remittances on FDI 0 150 132 24 38 8 16 29 50 35 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,545 7,039 8,089 9,037 10,380 11,172 10,002 10,080 11,141 12,268 Exports of goods, serv. & inc. (XGS) .. 2,061 2,233 3,041 3,000 2,889 2,723 2,821 3,024 3,330 Worker remit. & comp. of employees 0 11 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 3,095 3,128 3,694 4,029 3,938 3,493 3,947 4,192 3,861 International reserves (RES) 220 539 236 776 811 783 792 898 1,065 1,068 Current account balance .. -876 -527 -73 -457 -475 -90 -204 -318 .. 4. DEBT INDICATORS EDT / XGS (%) .. 164.3 316.0 224.0 215.2 235.7 236.9 218.4 183.9 181.1 EDT / GNI (%) 30.9 48.1 87.2 75.4 62.2 60.9 64.5 61.1 49.9 49.2 TDS / XGS (%) .. 21.0 35.4 27.8 22.1 23.2 25.7 18.7 15.8 13.6 INT / XGS (%) .. 11.1 14.9 9.0 7.1 6.8 6.4 4.9 3.6 3.1 INT / GNI (%) 1.1 3.3 4.1 3.0 2.1 1.8 1.7 1.4 1.0 0.9 RES / EDT (%) 46.0 15.9 3.3 11.4 12.6 11.5 12.3 14.6 19.1 17.7 RES / MGS (months) .. 2.1 0.9 2.5 2.4 2.4 2.7 2.7 3.0 3.3 Short-term / EDT (%) 14.5 18.9 13.2 7.7 12.3 12.3 12.1 12.9 10.8 12.5 Concessional / EDT (%) 35.6 20.2 33.7 57.7 58.0 60.0 63.8 66.4 73.8 73.8 Multilateral / EDT (%) 8.0 18.7 35.3 43.0 44.0 43.8 45.1 46.0 49.7 49.2 289 KENYA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 408 2,493 5,641 5,946 5,409 5,777 5,539 5,239 4,860 5,188 Public and publicly guaranteed 321 2,056 4,761 5,571 5,084 5,497 5,319 5,064 4,751 5,139 Official 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 1,644 Private 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 22 Private 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 49 Memo: 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 DISBURSEMENTS 78 620 642 368 185 318 265 392 176 220 Public and publicly guaranteed 37 533 587 368 185 318 265 392 176 220 Official creditors 36 233 405 326 160 166 138 307 171 85 Multilateral 10 154 297 197 142 144 95 196 127 75 Concessional 7 94 264 181 128 132 86 184 125 73 Bilateral 26 79 108 129 18 23 43 112 44 9 Concessional 20 66 106 76 18 20 43 112 17 9 Private creditors 1 300 182 42 25 151 127 85 5 136 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 215 119 42 25 129 104 77 0 131 Other private 1 85 63 0 0 22 23 8 5 5 Private nonguaranteed 41 87 55 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 41 87 55 0 0 0 0 0 0 0 Memo: IBRD 3 45 3 0 0 0 0 0 0 0 IDA 7 72 234 156 84 123 78 170 116 66 PRINCIPAL REPAYMENTS 29 195 352 510 382 410 467 345 345 329 Public and publicly guaranteed 17 108 315 440 332 365 406 300 279 269 Official creditors 6 31 180 274 235 257 272 192 208 182 Multilateral 1 13 127 135 128 124 132 112 94 81 Concessional 0 1 9 16 19 23 31 36 41 49 Bilateral 5 17 53 138 108 133 141 80 114 101 Concessional 3 5 25 58 46 44 56 39 44 76 Private creditors 12 77 135 166 96 108 134 108 71 87 Bonds 10 0 0 0 0 0 0 0 0 0 Commercial banks 0 25 114 141 80 91 87 96 63 84 Other private 1 52 21 25 17 17 47 12 8 3 Private nonguaranteed 12 88 37 70 50 45 61 45 66 60 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 12 88 37 70 50 45 61 45 66 60 Memo: IBRD 1 11 95 88 74 66 58 40 22 12 IDA 0 1 4 10 11 15 23 29 35 42 NET FLOWS ON DEBT 49 424 290 -142 -197 -92 -202 48 -169 -109 Public and publicly guaranteed 20 425 272 -72 -147 -47 -141 93 -103 -49 Official 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 -67 Private 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 2 Private 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 -60 Memo: IBRD 2 35 -92 -88 -74 -66 -58 -40 -22 -12 IDA 7 71 230 145 72 108 55 142 81 24 290 KENYA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 17 163 230 241 183 157 133 97 83 85 Public and publicly guaranteed 13 124 193 210 152 131 112 79 70 77 Official creditors 8 54 134 163 117 109 88 55 54 64 Multilateral 1 36 100 73 58 50 46 38 30 29 Concessional 0 1 9 17 18 18 19 20 18 21 Bilateral 8 18 34 89 59 59 42 17 24 34 Concessional 4 7 14 39 28 31 28 10 18 28 Private creditors 4 70 59 47 35 22 24 24 16 14 Bonds 3 1 0 0 0 0 0 0 0 0 Commercial banks 0 30 52 41 33 19 22 22 14 12 Other private 1 39 7 6 3 3 1 3 2 1 Private nonguaranteed 4 39 38 32 31 26 21 19 13 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 39 38 32 31 26 21 19 13 8 Memo: IBRD 0 31 78 34 23 17 12 7 3 1 IDA 0 1 7 15 15 15 16 16 16 17 NET TRANSFERS ON DEBT 32 261 60 -384 -380 -249 -335 -50 -252 -194 Public and publicly guaranteed 7 301 79 -282 -299 -178 -253 14 -173 -126 Official 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 -95 Private 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 1 Private 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 -68 Memo: IBRD 2 3 -169 -122 -97 -83 -70 -47 -26 -13 IDA 6 70 223 131 57 93 39 125 64 6 DEBT SERVICE (LTDS) 46 359 582 752 565 567 600 442 428 414 Public and publicly guaranteed 30 232 507 650 484 496 518 378 349 346 Official creditors 14 84 314 436 352 366 360 246 262 246 Multilateral 2 49 227 209 186 175 178 150 124 110 Concessional 0 2 18 34 37 40 50 56 60 70 Bilateral 12 35 87 228 166 192 183 97 138 136 Concessional 7 13 40 97 74 75 84 49 62 104 Private creditors 16 147 193 214 132 130 158 132 87 100 Bonds 13 1 0 0 0 0 0 0 0 0 Commercial banks 0 55 166 182 112 110 109 118 77 97 Other private 2 91 28 31 20 20 48 14 10 4 Private nonguaranteed 16 127 75 102 81 71 82 64 79 68 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 16 127 75 102 81 71 82 64 79 68 Memo: IBRD 1 42 173 122 97 83 70 47 26 13 IDA 0 2 11 25 26 30 39 45 51 60 UNDISBURSED DEBT 119 1,331 1,967 1,215 1,199 1,305 1,164 1,026 996 1,046 Official creditors 119 1,241 1,605 1,083 1,087 1,071 1,032 992 835 848 Private creditors 0 91 361 132 112 233 133 33 161 199 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 13.2 14.7 Deutsche mark 5.9 9.8 1.7 2.2 2.5 2.4 2.1 1.9 .. .. French franc 0.0 9.0 6.7 5.1 4.9 4.9 3.5 2.6 .. .. Japanese yen 0.2 4.6 8.4 17.9 17.4 17.8 20.5 20.5 19.5 18.7 Pound sterling 76.5 14.3 8.7 3.8 3.6 4.1 3.3 2.5 1.8 1.4 Swiss franc 0.0 2.3 3.4 3.2 2.9 2.4 1.9 1.4 0.9 0.6 U.S.dollars 15.7 35.9 30.9 39.5 41.7 44.1 46.3 49.3 51.2 51.7 Multiple currency 1.2 14.9 24.4 11.8 10.4 7.5 6.4 5.7 5.4 5.1 Special drawing rights 0.0 0.0 0.3 0.4 0.4 0.4 0.4 0.6 0.6 0.6 All other currencies 0.5 9.2 15.5 16.0 16.2 16.4 15.5 15.4 7.3 7.2 291 KENYA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 50 0 0 0 143 114 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 145 90 0 Official .. .. 0 0 0 0 0 141 81 0 Private .. .. 0 0 0 0 0 5 9 0 Interest rescheduled .. .. 0 0 0 0 0 37 15 0 Official .. .. 0 0 0 0 0 36 13 0 Private .. .. 0 0 0 0 0 1 2 0 Debt forgiven .. .. 84 0 26 0 0 10 0 0 Memo: interest forgiven .. .. 13 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 25.4 Official 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 69.8 Private 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 9.2 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 362 237 166 113 67 42 26 11 6 1 Principal 390 293 258 245 241 232 218 224 244 247 Interest 82 76 70 66 64 60 55 51 48 44 Official creditors Disbursements 271 188 138 96 58 37 25 11 6 1 Principal 220 193 202 206 210 213 203 210 230 233 Interest 66 67 64 61 60 56 52 48 46 42 Bilateral creditors Disbursements 77 86 58 38 22 12 6 1 1 0 Principal 126 106 112 111 117 119 109 108 118 114 Interest 37 38 36 34 34 32 29 26 25 22 Multilateral creditors Disbursements 194 102 80 58 36 25 18 10 5 0 Principal 94 87 90 94 93 94 94 103 112 119 Interest 29 28 28 27 25 24 23 22 21 20 Private creditors Disbursements 90 49 28 17 8 5 2 0 0 0 Principal 170 99 56 40 31 19 15 14 14 14 Interest 16 9 6 5 4 3 3 3 2 2 Commercial banks Disbursements 90 48 28 17 8 5 2 0 0 0 Principal 117 96 53 37 29 18 13 13 13 13 Interest 13 8 6 5 4 3 3 2 2 2 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 52 3 3 3 2 2 2 1 1 1 Interest 3 1 1 0 0 0 0 0 0 0 292 KYRGYZ REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,137 1,341 1,505 1,736 1,827 1,712 1,797 Long-term debt (LDOD) .. .. .. 989 1,143 1,302 1,485 1,510 1,484 1,593 Public and publicly guaranteed .. .. .. 626 751 934 1,134 1,220 1,251 1,394 Private nonguaranteed .. .. .. 362 392 368 350 290 234 199 Use of IMF credit .. .. .. 140 165 175 190 188 179 185 Short-term debt .. .. .. 9 33 28 61 129 48 19 of 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 8 Memo: 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 6 Memo: export credits .. .. .. 52 54 87 80 76 65 52 TOTAL DEBT FLOWS Disbursements .. .. .. 200 209 179 245 180 134 152 Long-term debt .. .. .. 176 165 164 218 161 119 137 IMF purchases .. .. .. 23 44 15 27 19 15 15 Principal repayments .. .. .. 36 20 53 58 97 128 147 Long-term debt .. .. .. 32 10 41 51 86 111 123 IMF repurchases .. .. .. 4 10 12 7 11 17 24 Net flows on debt .. .. .. 170 214 121 208 152 -69 -30 of which short-term debt .. .. .. 6 25 -5 22 69 -75 -35 Interest payments (INT) .. .. .. 38 58 62 52 76 49 26 Long-term debt .. .. .. 34 54 58 47 69 44 24 IMF charges .. .. .. 3 3 3 2 2 2 1 Short-term debt .. .. .. 0 1 2 3 5 3 1 Net transfers on debt .. .. .. 132 156 59 156 76 -118 -56 Total debt service paid (TDS) .. .. .. 74 78 115 110 173 177 173 Long-term debt .. .. .. 67 64 99 98 155 155 147 IMF repurchases and charges .. .. .. 7 13 14 9 14 19 25 Short-term debt (interest only) .. .. .. 0 1 2 3 5 3 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 236 284 280 261 117 47 59 Net flow of long-term debt (ex. IMF) .. .. .. 144 155 123 167 75 8 14 Foreign direct investment (net) .. .. .. 47 84 109 44 -2 5 5 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 45 45 48 50 44 35 40 Memo: 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 15 Interest on long-term debt .. .. .. 34 54 58 47 69 44 24 Profit remittances on FDI .. .. .. 2 1 8 5 39 27 20 Memo: official net transfers .. .. .. 171 159 170 216 159 102 100 private net transfers .. .. .. 28 70 44 -7 -151 -126 -85 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 1,788 1,703 1,567 1,175 1,286 1,460 1,543 Exports of goods, serv. & inc. (XGS) .. .. .. 569 685 613 540 633 594 682 Worker remit. & comp. of employees .. .. .. 2 3 2 1 43 22 22 Imports of goods & services (MGS) .. .. .. 1,076 889 1,023 791 756 642 763 International reserves (RES) .. .. .. 95 170 188 254 262 287 317 Current account balance .. .. .. -425 -139 -364 -184 -79 -19 -35 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 199.7 195.7 245.7 321.7 288.8 288.1 263.3 EDT / GNI (%) .. .. .. 63.6 78.7 96.1 147.7 142.1 117.3 116.4 TDS / XGS (%) .. .. .. 13.0 11.4 18.7 20.4 27.4 29.8 25.3 INT / XGS (%) .. .. .. 6.7 8.5 10.1 9.6 12.0 8.2 3.8 INT / GNI (%) .. .. .. 2.1 3.4 4.0 4.4 5.9 3.3 1.7 RES / EDT (%) .. .. .. 8.3 12.7 12.5 14.6 14.3 16.7 17.7 RES / MGS (months) .. .. .. 1.1 2.3 2.2 3.9 4.2 5.4 5.0 Short-term / EDT (%) 0.0 0.0 0.0 0.8 2.5 1.9 3.5 7.1 2.8 1.0 Concessional / EDT (%) 0.0 0.0 0.0 32.3 34.6 41.9 46.1 48.1 56.4 64.0 Multilateral / EDT (%) 0.0 0.0 100.0 25.4 29.4 35.7 37.8 39.5 45.0 49.4 293 KYRGYZ REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 989 1,143 1,302 1,485 1,510 1,484 1,593 Public and publicly guaranteed .. .. .. 626 751 934 1,134 1,220 1,251 1,394 Official 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 .. .. .. 112 106 138 216 233 264 325 Private 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 10 Private nonguaranteed .. .. .. 362 392 368 350 290 234 199 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 362 392 368 350 290 234 199 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 197 251 328 342 377 389 454 DISBURSEMENTS .. .. .. 176 165 164 218 161 119 137 Public and publicly guaranteed .. .. .. 176 165 163 186 153 109 81 Official creditors .. .. .. 169 142 160 181 149 107 81 Multilateral .. .. .. 111 125 123 120 107 92 68 Concessional .. .. .. 89 119 112 90 97 91 67 Bilateral .. .. .. 58 16 37 62 42 15 14 Concessional .. .. .. 46 6 22 61 42 15 14 Private creditors .. .. .. 7 23 3 4 4 2 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 7 23 0 0 0 0 0 Other private .. .. .. 0 0 3 4 4 2 0 Private nonguaranteed .. .. .. 0 0 1 32 8 10 56 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 1 32 8 10 56 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 61 67 66 22 52 27 33 PRINCIPAL REPAYMENTS .. .. .. 32 10 41 51 86 111 123 Public and publicly guaranteed .. .. .. 32 10 17 2 17 30 32 Official creditors .. .. .. 32 10 17 1 13 22 8 Multilateral .. .. .. 0 1 4 1 8 8 8 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 32 9 13 1 5 13 0 Concessional .. .. .. 1 1 3 0 1 1 0 Private creditors .. .. .. 0 0 0 0 4 8 24 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 2 5 23 Other private .. .. .. 0 0 0 0 2 3 1 Private nonguaranteed .. .. .. 0 0 25 49 69 82 91 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 25 49 69 82 91 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 144 155 123 167 75 8 14 Public and publicly guaranteed .. .. .. 144 155 147 184 136 79 49 Official 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 14 Private 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 -1 Private 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 -35 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 61 67 66 22 52 27 33 294 KYRGYZ REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 34 54 58 47 69 44 24 Public and publicly guaranteed .. .. .. 11 20 24 16 23 21 13 Official creditors .. .. .. 11 19 22 14 20 18 13 Multilateral .. .. .. 3 5 7 7 11 11 10 Concessional .. .. .. 1 2 3 5 5 6 7 Bilateral .. .. .. 8 14 15 7 10 8 3 Concessional .. .. .. 2 3 3 5 6 4 1 Private creditors .. .. .. 0 1 2 2 2 2 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 1 2 2 2 2 0 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 23 34 34 31 47 23 10 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 23 34 34 31 47 23 10 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 2 2 2 3 3 3 NET TRANSFERS ON DEBT .. .. .. 109 101 65 120 6 -36 -10 Public and publicly guaranteed .. .. .. 133 135 123 169 113 59 36 Official 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 13 Private 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 -1 Private 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 -46 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 60 65 64 19 49 24 30 DEBT SERVICE (LTDS) .. .. .. 67 64 99 98 155 155 147 Public and publicly guaranteed .. .. .. 43 30 40 17 40 50 45 Official creditors .. .. .. 43 28 38 15 34 40 21 Multilateral .. .. .. 3 6 11 8 18 19 18 Concessional .. .. .. 1 2 3 5 5 6 7 Bilateral .. .. .. 41 22 27 7 15 21 3 Concessional .. .. .. 3 4 6 5 7 6 1 Private creditors .. .. .. 0 1 2 2 6 10 24 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 1 2 2 5 6 23 Other private .. .. .. 0 0 0 0 2 4 1 Private nonguaranteed .. .. .. 23 34 59 81 115 105 102 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 23 34 59 81 115 105 102 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 2 2 2 3 3 3 UNDISBURSED DEBT .. .. .. 327 416 561 520 465 403 385 Official creditors .. .. .. 327 416 552 515 464 403 385 Private creditors .. .. .. 0 0 9 5 1 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.3 2.6 Deutsche mark .. .. .. 2.5 2.5 2.9 2.3 2.0 .. .. French franc .. .. .. 0.0 0.1 0.5 0.3 0.3 .. .. Japanese yen .. .. .. 13.5 10.3 11.3 15.0 15.0 13.6 13.8 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.7 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 73.9 75.5 71.7 67.2 67.9 70.1 69.4 Multiple currency .. .. .. 9.2 11.3 13.3 13.1 11.8 10.7 10.5 Special drawing rights .. .. .. 0.0 0.0 0.0 0.1 0.2 0.2 0.3 All other currencies .. .. .. 0.3 0.2 0.2 1.9 2.8 3.1 3.5 295 KYRGYZ REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 195 3 41 0 32 108 25 Debt stock rescheduled .. .. .. 107 3 41 0 0 45 0 Principal rescheduled .. .. .. 60 0 0 0 22 49 14 Official .. .. .. 60 0 0 0 22 49 12 Private .. .. .. 0 0 0 0 0 0 2 Interest rescheduled .. .. .. 28 0 0 0 1 13 11 Official .. .. .. 28 0 0 0 1 13 11 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 2.5 3.7 2.1 1.3 1.0 1.2 1.2 Maturity (years) .. .. .. 32.2 24.3 33.6 23.9 35.8 28.6 31.4 Grace period (years) .. .. .. 9.4 6.8 11.6 7.2 9.5 8.7 8.4 Grant element (%) .. .. .. 61.5 45.7 65.9 58.8 76.4 69.0 70.9 Official creditors Interest (%) .. .. .. 2.4 3.4 2.0 1.3 1.0 1.2 1.2 Maturity (years) .. .. .. 32.9 26.0 34.7 24.2 35.8 28.9 31.4 Grace period (years) .. .. .. 9.5 7.3 12.0 7.3 9.5 8.8 8.4 Grant element (%) .. .. .. 62.6 49.2 67.7 59.4 76.4 69.5 70.9 Private creditors Interest (%) .. .. .. 5.3 7.0 3.7 1.4 0.0 3.0 0.0 Maturity (years) .. .. .. 5.3 5.1 6.7 1.3 0.0 8.4 0.0 Grace period (years) .. .. .. 5.3 0.5 2.3 0.8 0.0 2.9 0.0 Grant element (%) .. .. .. 18.3 6.3 22.4 8.7 0.0 28.4 0.0 Memorandum items Commitments .. .. .. 269 282 284 147 201 68 73 Official creditors .. .. .. 262 259 273 145 201 67 73 Private creditors .. .. .. 7 23 11 2 0 1 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 119 95 63 38 28 18 11 7 4 2 Principal 124 108 87 71 63 70 77 73 64 62 Interest 53 37 35 33 34 33 32 30 29 25 Official creditors Disbursements 119 95 63 38 28 18 11 7 4 2 Principal 48 53 59 51 55 65 73 70 61 61 Interest 25 27 27 28 30 30 29 28 27 25 Bilateral creditors Disbursements 23 22 15 3 2 1 0 0 0 0 Principal 36 39 42 31 30 32 35 35 23 24 Interest 15 16 15 16 16 15 14 13 12 11 Multilateral creditors Disbursements 96 73 48 35 26 17 11 7 4 2 Principal 12 14 18 20 25 33 37 36 37 38 Interest 11 11 12 13 14 15 16 15 15 14 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 76 55 28 21 8 5 4 3 3 0 Interest 28 10 8 5 4 3 3 3 3 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 76 55 28 21 8 5 4 3 3 0 Interest 28 10 8 5 4 3 3 3 3 0 296 LAO PEOPLE'S DEMOCRATIC REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 8 350 1,768 2,263 2,320 2,437 2,527 2,502 2,495 2,665 Long-term debt (LDOD) 8 333 1,757 2,186 2,247 2,373 2,471 2,453 2,456 2,620 Public and publicly guaranteed 8 333 1,757 2,186 2,247 2,373 2,471 2,453 2,456 2,620 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 16 8 67 66 62 53 42 37 43 Short-term debt 0 1 2 11 7 1 3 7 1 1 of which interest arrears on LDOD 0 1 0 0 0 0 0 0 0 0 Official creditors 0 1 0 0 0 0 0 0 0 0 Private creditors 0 1 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 4 1 1 2 1 1 1 0 0 Official creditors 0 1 1 1 2 1 1 1 0 0 Private creditors 0 3 0 0 0 0 0 0 0 0 Memo: export credits 0 0 3 30 58 17 9 11 8 11 TOTAL DEBT FLOWS Disbursements 6 60 152 197 143 95 81 82 107 97 Long-term debt 6 55 152 189 135 95 81 82 101 85 IMF purchases 0 4 0 9 8 0 0 0 6 12 Principal repayments 1 1 6 22 20 23 28 31 33 34 Long-term debt 1 1 5 19 15 16 19 23 24 25 IMF repurchases 0 0 1 3 5 6 8 8 9 9 Net flows on debt 4 59 147 176 119 66 54 55 68 63 of which short-term debt 0 0 1 0 -4 -6 1 4 -6 0 Interest payments (INT) 0 1 3 7 8 8 9 10 10 11 Long-term debt 0 1 3 6 7 8 9 9 10 10 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 0 0 1 0 0 0 0 0 0 Net transfers on debt 4 57 144 169 111 58 45 45 58 52 Total debt service paid (TDS) 2 2 9 29 28 31 37 41 44 45 Long-term debt 2 2 8 25 22 24 28 32 34 35 IMF repurchases and charges 0 0 1 3 5 7 8 8 10 9 Short-term debt (interest only) 0 0 0 1 0 0 0 0 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 33 70 199 469 251 197 205 228 194 201 Net flow of long-term debt (ex. IMF) 4 54 146 170 120 78 61 59 77 60 Foreign direct investment (net) 0 0 6 160 0 0 0 34 24 25 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 28 16 47 139 132 119 144 135 93 115 Memo: technical coop. grants 40 14 30 75 64 68 75 74 79 82 official net resource flows 33 70 193 309 251 197 205 194 170 175 private net resource flows 0 0 6 160 0 0 0 34 24 25 NET TRANSFERS 32 69 196 456 234 176 183 181 148 148 Interest on long-term debt 0 1 3 6 7 8 9 9 10 10 Profit remittances on FDI 0 0 0 6 11 14 13 37 36 42 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 865 1,867 1,704 1,248 1,420 1,670 1,663 1,613 Exports 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 0 Imports of goods & services (MGS) .. .. 215 783 741 644 629 638 599 .. International reserves (RES) .. .. 8 176 117 117 135 144 151 216 Current 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 (%) .. .. 204.5 121.3 136.1 195.2 177.9 149.8 150.0 165.2 TDS / 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 0.7 RES / EDT (%) .. .. 0.5 7.8 5.0 4.8 5.4 5.7 6.0 8.1 RES / 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 0.0 Concessional / EDT (%) 90.2 93.3 99.1 96.4 96.7 97.3 97.7 98.0 98.4 98.3 Multilateral / EDT (%) 0.0 5.9 15.1 32.7 35.1 39.0 41.6 41.6 42.0 45.9 297 LAO PEOPLE'S DEMOCRATIC REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 8 333 1,757 2,186 2,247 2,373 2,471 2,453 2,456 2,620 Public and publicly guaranteed 8 333 1,757 2,186 2,247 2,373 2,471 2,453 2,456 2,620 Official 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 1,397 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 6 131 335 358 395 405 403 415 473 DISBURSEMENTS 6 55 152 189 135 95 81 82 101 85 Public and publicly guaranteed 6 55 152 189 135 95 81 82 101 85 Official creditors 6 55 152 189 135 95 81 82 101 85 Multilateral 0 7 78 153 132 95 70 73 88 85 Concessional 0 7 78 153 132 95 70 73 88 85 Bilateral 6 48 74 36 2 0 10 8 13 0 Concessional 6 48 74 36 2 0 10 8 13 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 5 32 60 42 25 21 20 31 33 PRINCIPAL REPAYMENTS 1 1 5 19 15 16 19 23 24 25 Public and publicly guaranteed 1 1 5 19 15 16 19 23 24 25 Official creditors 1 1 5 19 15 16 19 23 24 25 Multilateral 0 0 3 3 3 5 6 9 11 12 Concessional 0 0 3 3 3 5 6 9 11 12 Bilateral 1 1 3 16 12 12 14 14 13 13 Concessional 1 1 2 16 11 11 13 13 12 12 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 1 1 1 2 4 4 6 NET FLOWS ON DEBT 4 54 146 170 120 78 61 59 77 60 Public and publicly guaranteed 4 54 146 170 120 78 61 59 77 60 Official 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 -12 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 5 32 59 41 24 19 17 27 27 298 LAO PEOPLE'S DEMOCRATIC REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 1 3 6 7 8 9 9 10 10 Public and publicly guaranteed 0 1 3 6 7 8 9 9 10 10 Official creditors 0 1 3 6 7 8 9 9 10 10 Multilateral 0 0 2 6 7 7 9 9 9 10 Concessional 0 0 2 6 7 7 9 9 9 10 Bilateral 0 1 1 1 1 0 0 1 0 0 Concessional 0 1 1 0 0 0 0 0 0 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 2 2 3 3 3 3 3 NET TRANSFERS ON DEBT 4 53 144 164 112 71 52 49 67 50 Public and publicly guaranteed 4 53 144 164 112 71 52 49 67 50 Official 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 -13 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 5 31 57 38 21 16 14 24 24 DEBT SERVICE (LTDS) 2 2 8 25 22 24 28 32 34 35 Public and publicly guaranteed 2 2 8 25 22 24 28 32 34 35 Official creditors 1 2 8 25 22 24 28 32 34 35 Multilateral 0 0 5 8 10 12 15 18 20 22 Concessional 0 0 5 8 10 12 15 18 20 22 Bilateral 1 2 4 17 12 12 14 14 14 13 Concessional 1 2 3 16 12 11 13 14 13 13 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 3 3 4 5 7 7 9 UNDISBURSED DEBT 10 253 221 481 456 478 378 344 385 359 Official creditors 9 253 221 481 456 478 378 344 385 359 Private creditors 1 0 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 8 327 1,752 2,182 2,243 2,370 2,469 2,451 2,455 2,620 Variable rate LDOD 0 0 0 0 0 0 0 0 0 0 Public sector LDOD 8 333 1,757 2,186 2,247 2,373 2,471 2,453 2,456 2,620 Private sector LDOD 0 0 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 0.0 0.0 Deutsche mark 77.3 10.3 1.8 0.1 0.0 0.0 0.0 0.0 .. .. French franc 12.9 4.3 0.3 0.1 0.1 0.1 0.1 0.0 .. .. Japanese yen 0.0 7.7 1.5 0.8 0.7 0.7 1.1 1.2 1.5 1.4 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 9.8 3.6 7.1 14.8 15.6 16.6 16.7 17.4 19.1 21.9 Multiple currency 0.0 3.0 7.1 17.8 19.5 22.1 24.3 23.6 21.9 23.0 Special drawing rights 0.0 0.0 1.1 1.4 1.3 1.4 1.5 1.6 1.8 1.9 All other currencies 0.0 71.1 81.1 65.0 62.8 59.0 56.2 56.2 55.7 51.8 299 LAO PEOPLE'S DEMOCRATIC REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.0 0.2 0.9 2.0 2.6 1.7 1.2 1.4 1.2 0.8 Maturity (years) 28.2 33.0 39.9 37.6 39.1 39.4 33.8 31.6 32.9 39.6 Grace period (years) 4.4 25.5 10.0 9.9 10.1 9.9 8.7 8.1 8.8 10.1 Grant element (%) 51.1 91.1 79.0 68.2 63.6 71.7 72.8 69.9 72.4 80.5 Official creditors Interest (%) 2.5 0.2 0.9 2.0 2.6 1.7 1.2 1.4 1.2 0.8 Maturity (years) 30.8 33.0 39.9 37.6 39.1 39.4 33.8 31.6 32.9 39.6 Grace period (years) 4.2 25.5 10.0 9.9 10.1 9.9 8.7 8.1 8.8 10.1 Grant element (%) 55.8 91.1 79.0 68.2 63.6 71.7 72.8 69.9 72.4 80.5 Private creditors Interest (%) 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 10.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 5.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 18.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 12 96 125 173 143 128 8 68 145 45 Official creditors 11 96 125 173 143 128 8 68 145 45 Private creditors 2 0 0 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 120 72 53 38 27 19 13 7 4 2 Principal 29 31 99 89 93 102 107 111 113 115 Interest 12 13 13 16 18 18 18 18 18 17 Official creditors Disbursements 120 72 53 38 27 19 13 7 4 2 Principal 29 31 99 89 93 102 107 111 113 115 Interest 12 13 13 16 18 18 18 18 18 17 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 13 12 78 65 65 65 65 65 65 65 Interest 0 0 0 0 0 0 0 0 0 0 Multilateral creditors Disbursements 120 72 53 38 27 19 13 7 4 2 Principal 16 19 21 24 29 37 42 46 48 51 Interest 12 12 13 16 18 18 18 18 17 17 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 300 LATVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,232 2,759 3,115 4,061 4,855 5,710 6,690 Long-term debt (LDOD) .. .. .. 300 953 1,348 1,940 1,979 2,651 2,512 Public and publicly guaranteed .. .. .. 300 314 404 865 827 978 1,124 Private nonguaranteed .. .. .. 0 639 944 1,075 1,151 1,673 1,388 Use of IMF credit .. .. .. 130 86 64 47 35 24 16 Short-term debt .. .. .. 801 1,720 1,703 2,075 2,842 3,035 4,163 of 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 0 Memo: 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 0 Memo: export credits .. .. .. 118 166 82 79 56 48 43 TOTAL DEBT FLOWS Disbursements .. .. .. 59 317 533 849 410 994 580 Long-term debt .. .. .. 59 317 533 849 410 994 580 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 39 166 161 219 330 290 490 Long-term debt .. .. .. 14 129 136 204 319 280 480 IMF repurchases .. .. .. 25 37 25 15 10 10 10 Net flows on debt .. .. .. 790 1,070 355 1,002 848 897 1,218 of which short-term debt .. .. .. 770 919 -18 372 767 193 1,128 Interest payments (INT) .. .. .. 60 110 146 177 270 225 160 Long-term debt .. .. .. 17 42 57 71 107 118 95 IMF charges .. .. .. 7 5 4 2 2 1 1 Short-term debt .. .. .. 36 63 86 103 161 106 64 Net transfers on debt .. .. .. 730 960 208 825 578 672 1,058 Total debt service paid (TDS) .. .. .. 99 276 308 396 599 516 650 Long-term debt .. .. .. 31 171 194 275 426 398 575 IMF repurchases and charges .. .. .. 32 42 28 17 12 11 10 Short-term debt (interest only) .. .. .. 36 63 86 103 161 106 64 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 466 765 855 1,070 561 959 572 Net flow of long-term debt (ex. IMF) .. .. .. 46 188 397 645 91 714 100 Foreign direct investment (net) .. .. .. 382 521 357 348 410 164 382 Portfolio equity flows .. .. .. -3 6 30 7 -7 1 22 Grants (excluding technical coop.) .. .. .. 41 50 71 71 68 80 68 Memo: 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 NET TRANSFERS .. .. .. 399 653 715 875 370 730 310 Interest on long-term debt .. .. .. 17 42 57 71 107 118 95 Profit remittances on FDI .. .. .. 50 70 82 124 84 111 167 Memo: official net transfers .. .. .. 68 97 150 330 52 63 46 private net transfers .. .. .. 331 556 565 545 318 667 264 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 5,137 5,683 6,142 6,594 7,202 7,708 8,387 Exports of goods, serv. & inc. (XGS) .. .. .. 2,754 3,050 3,330 3,074 3,547 3,779 4,119 Worker remit. & comp. of employees .. .. .. 0 46 49 49 131 206 138 Imports of goods & services (MGS) .. .. .. 3,127 3,471 4,101 3,818 4,077 4,493 5,024 International reserves (RES) .. .. .. 746 832 873 944 919 1,217 1,327 Current account balance .. .. .. -280 -345 -650 -654 -495 -732 -647 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 44.7 90.5 93.5 132.1 136.9 151.1 162.4 EDT / GNI (%) .. .. .. 24.0 48.6 50.7 61.6 67.4 74.1 79.8 TDS / XGS (%) .. .. .. 3.6 9.0 9.2 12.9 16.9 13.6 15.8 INT / XGS (%) .. .. .. 2.2 3.6 4.4 5.7 7.6 6.0 3.9 INT / GNI (%) .. .. .. 1.2 1.9 2.4 2.7 3.7 2.9 1.9 RES / EDT (%) .. .. .. 60.6 30.2 28.0 23.3 18.9 21.3 19.8 RES / MGS (months) .. .. .. 2.9 2.9 2.6 3.0 2.7 3.3 3.2 Short-term / EDT (%) .. .. .. 65.1 62.3 54.7 51.1 58.5 53.2 62.2 Concessional / EDT (%) .. .. .. 5.2 2.5 2.4 1.7 1.0 0.7 1.0 Multilateral / EDT (%) .. .. .. 13.3 7.2 9.2 13.2 11.2 9.4 9.1 301 LATVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 300 953 1,348 1,940 1,979 2,651 2,512 Public and publicly guaranteed .. .. .. 300 314 404 865 827 978 1,124 Official 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 53 Private 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 16 Private 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 1,388 Memo: IBRD .. .. .. 75 120 186 200 242 243 263 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 59 317 533 849 410 994 580 Public and publicly guaranteed .. .. .. 59 104 107 535 94 242 55 Official creditors .. .. .. 46 93 104 291 91 61 55 Multilateral .. .. .. 38 75 100 291 91 57 44 Concessional .. .. .. 0 0 0 0 0 0 11 Bilateral .. .. .. 8 18 4 0 1 4 11 Concessional .. .. .. 8 14 3 0 1 4 11 Private creditors .. .. .. 13 11 3 245 3 181 0 Bonds .. .. .. 0 0 0 240 0 179 0 Commercial banks .. .. .. 2 0 2 2 0 0 0 Other private .. .. .. 11 11 1 3 3 2 0 Private nonguaranteed .. .. .. 0 213 427 314 316 752 525 Bonds .. .. .. 0 30 0 0 0 0 0 Commercial banks and other .. .. .. 0 183 427 314 316 752 525 Memo: IBRD .. .. .. 24 53 82 28 63 22 14 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 14 129 136 204 319 280 480 Public and publicly guaranteed .. .. .. 14 68 14 21 81 50 52 Official creditors .. .. .. 6 30 9 12 73 45 46 Multilateral .. .. .. 6 25 5 7 53 39 41 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 5 3 4 19 5 5 Concessional .. .. .. 0 4 2 3 18 5 5 Private creditors .. .. .. 8 37 6 9 8 6 6 Bonds .. .. .. 0 33 0 0 0 0 0 Commercial banks .. .. .. 0 0 1 3 1 1 1 Other private .. .. .. 8 4 5 7 6 4 4 Private nonguaranteed .. .. .. 0 61 122 183 239 230 428 Bonds .. .. .. 0 0 0 0 30 0 0 Commercial banks and other .. .. .. 0 61 122 183 209 230 428 Memo: IBRD .. .. .. 0 0 4 4 9 11 16 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 46 188 397 645 91 714 100 Public and publicly guaranteed .. .. .. 46 36 92 515 14 192 3 Official 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 6 Private 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 -4 Private 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 97 Memo: IBRD .. .. .. 24 53 78 23 54 11 -3 IDA .. .. .. 0 0 0 0 0 0 0 302 LATVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 17 42 57 71 107 118 95 Public and publicly guaranteed .. .. .. 17 19 17 20 50 47 48 Official creditors .. .. .. 13 15 16 19 34 34 31 Multilateral .. .. .. 10 11 12 16 31 32 29 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 3 4 3 3 3 2 2 Concessional .. .. .. 3 3 3 3 3 2 2 Private creditors .. .. .. 4 4 1 1 16 13 17 Bonds .. .. .. 2 2 0 0 15 12 16 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 2 2 1 1 1 1 1 Private nonguaranteed .. .. .. 0 23 40 51 57 71 47 Bonds .. .. .. 0 0 2 2 2 0 0 Commercial banks and other .. .. .. 0 23 38 49 55 71 47 Memo: IBRD .. .. .. 4 6 8 13 12 13 11 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 29 146 340 574 -16 596 5 Public and publicly guaranteed .. .. .. 29 17 75 494 -36 145 -44 Official 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 5 Private 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 -5 Private 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 49 Memo: IBRD .. .. .. 20 47 70 10 42 -2 -14 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 31 171 194 275 426 398 575 Public and publicly guaranteed .. .. .. 31 87 32 41 130 97 99 Official creditors .. .. .. 19 46 25 31 107 78 77 Multilateral .. .. .. 16 36 18 24 84 71 70 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 4 9 7 7 22 7 6 Concessional .. .. .. 3 7 5 6 21 7 6 Private creditors .. .. .. 12 42 7 10 24 19 23 Bonds .. .. .. 2 35 0 0 15 12 16 Commercial banks .. .. .. 0 0 1 3 2 1 1 Other private .. .. .. 10 6 6 7 7 5 5 Private nonguaranteed .. .. .. 0 83 162 234 296 301 476 Bonds .. .. .. 0 0 2 2 32 0 0 Commercial banks and other .. .. .. 0 83 160 232 264 301 476 Memo: IBRD .. .. .. 4 6 12 17 21 24 28 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 312 245 257 262 194 168 188 Official creditors .. .. .. 297 232 246 256 192 168 188 Private creditors .. .. .. 15 13 11 6 2 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 69.9 73.1 Deutsche 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 2.7 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.6 0.4 0.6 0.4 0.3 U.S.dollars .. .. .. 43.9 43.8 40.6 18.5 20.0 16.2 15.1 Multiple currency .. .. .. 24.9 30.9 28.2 14.2 13.7 10.1 8.7 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 0.0 0.0 0.0 0.0 1.4 1.2 53.5 52.8 0.1 0.1 303 LATVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 0 0 0 0 Debt stock rescheduled .. .. .. 0 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 .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.0 5.7 5.1 6.2 5.8 4.9 2.4 Maturity (years) .. .. .. 15.3 13.8 17.4 8.8 14.6 8.8 18.4 Grace period (years) .. .. .. 4.0 4.1 4.5 7.6 5.9 6.5 5.4 Grant element (%) .. .. .. 21.5 22.9 30.0 19.5 23.8 26.2 49.9 Official creditors Interest (%) .. .. .. 6.3 5.7 5.1 5.9 5.8 2.5 2.4 Maturity (years) .. .. .. 15.7 14.0 17.4 7.1 14.6 19.0 18.4 Grace period (years) .. .. .. 4.2 4.3 4.5 4.8 5.9 4.0 5.4 Grant element (%) .. .. .. 20.8 23.1 30.0 17.5 23.8 47.1 49.9 Private creditors Interest (%) .. .. .. 2.5 5.4 0.0 6.6 0.0 5.4 0.0 Maturity (years) .. .. .. 11.1 12.0 0.0 11.0 0.0 7.0 0.0 Grace period (years) .. .. .. 1.2 2.5 0.0 11.0 0.0 7.0 0.0 Grant element (%) .. .. .. 30.6 21.4 0.0 22.0 0.0 22.5 0.0 Memorandum items Commitments .. .. .. 188 102 89 535 98 211 55 Official creditors .. .. .. 174 90 89 295 98 32 55 Private creditors .. .. .. 14 12 0 240 0 179 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 63 52 31 19 12 7 3 1 0 0 Principal 298 546 255 287 276 482 62 299 42 31 Interest 129 114 84 70 56 41 15 13 6 4 Official creditors Disbursements 63 52 31 19 12 7 3 1 0 0 Principal 48 281 49 53 55 56 54 59 39 31 Interest 31 30 15 14 12 11 9 7 5 4 Bilateral creditors Disbursements 2 1 0 0 0 0 0 0 0 0 Principal 5 5 5 5 5 5 5 19 0 0 Interest 2 2 2 2 1 1 1 1 0 0 Multilateral creditors Disbursements 62 51 30 18 12 7 3 1 0 0 Principal 43 277 45 48 50 51 49 41 39 30 Interest 29 28 13 12 11 9 8 6 5 4 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 250 265 206 234 221 426 9 240 2 0 Interest 98 84 69 57 43 30 6 6 1 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 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 249 265 206 233 221 426 9 239 2 0 Interest 98 84 68 57 43 30 6 6 1 0 304 LEBANON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 64 510 1,779 3,996 5,029 6,793 8,205 9,856 12,446 17,077 Long-term debt (LDOD) 64 216 358 2,343 3,234 4,833 6,003 7,315 9,788 14,530 Public and publicly guaranteed 64 216 358 1,933 2,349 4,048 5,332 6,579 8,952 13,829 Private nonguaranteed 0 0 0 410 885 785 671 736 836 701 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 294 1,421 1,653 1,795 1,961 2,202 2,541 2,658 2,547 of 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 0 Memo: 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 0 Memo: 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 5,649 Long-term debt 12 120 12 830 1,381 1,726 1,556 2,315 3,261 5,649 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 2 7 27 69 437 168 279 876 684 1,114 Long-term debt 2 7 27 69 437 168 279 876 684 1,114 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 10 236 726 1,059 1,086 1,723 1,519 1,778 2,694 4,424 of which short-term debt 0 124 742 298 142 166 241 339 117 -111 Interest payments (INT) 1 45 72 231 296 358 489 593 778 1,073 Long-term debt 1 6 11 149 201 263 361 461 646 963 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 39 61 83 95 95 128 132 132 110 Net transfers on debt 8 191 654 828 791 1,365 1,030 1,185 1,916 3,351 Total debt service paid (TDS) 4 53 99 301 733 526 768 1,469 1,462 2,188 Long-term debt 4 13 38 218 638 431 640 1,337 1,330 2,078 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 39 61 83 95 95 128 132 132 110 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 12 299 203 893 1,214 1,909 1,558 1,871 2,947 4,941 Net flow of long-term debt (ex. IMF) 10 112 -16 761 944 1,557 1,277 1,439 2,577 4,535 Foreign direct investment (net) 0 -12 7 80 150 200 250 298 249 257 Portfolio equity flows 0 0 0 0 0 44 -51 1 8 4 Grants (excluding technical coop.) 3 199 213 52 119 108 82 133 113 145 Memo: 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 3,978 Interest on long-term debt 1 6 11 149 201 263 361 461 646 963 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 3,461 13,392 15,297 16,991 17,431 17,420 17,651 18,233 Exports of goods, serv. & inc. (XGS) .. .. 3,023 3,446 3,616 3,843 4,202 4,655 5,639 5,105 Worker remit. & comp. of employees 0 0 1,818 1,225 1,225 1,225 1,402 1,582 2,307 2,307 Imports 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 10,405 Current account balance .. .. 115 -4,507 -4,153 -4,399 -3,317 -3,065 -3,984 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 58.8 116.0 139.1 176.8 195.3 211.7 220.7 334.5 EDT / GNI (%) .. .. 51.4 29.8 32.9 40.0 47.1 56.6 70.5 93.7 TDS / XGS (%) .. .. 3.3 8.7 20.3 13.7 18.3 31.6 25.9 42.9 INT / XGS (%) .. .. 2.4 6.7 8.2 9.3 11.6 12.7 13.8 21.0 INT / GNI (%) .. .. 2.1 1.7 1.9 2.1 2.8 3.4 4.4 5.9 RES / EDT (%) 630.4 1,376.6 236.7 233.6 172.1 135.6 127.4 86.0 60.8 60.9 RES / 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 14.9 Concessional / EDT (%) 47.4 14.5 6.2 10.4 9.3 8.2 7.1 5.7 4.4 3.2 Multilateral / EDT (%) 28.5 15.2 4.7 8.2 7.4 8.1 7.5 6.2 5.3 4.2 305 LEBANON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 64 216 358 2,343 3,234 4,833 6,003 7,315 9,788 14,530 Public and publicly guaranteed 64 216 358 1,933 2,349 4,048 5,332 6,579 8,952 13,829 Official 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 81 246 281 294 288 276 256 253 Private 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 12 Private 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 0 Memo: 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 5,649 Public and publicly guaranteed 12 120 12 470 906 1,726 1,510 2,200 3,061 5,509 Official 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 9 Private 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 0 Private 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 0 Memo: 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 1,114 Public and publicly guaranteed 2 7 27 69 437 68 119 826 584 839 Official 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 25 Private 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 1 Private 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 0 Memo: 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 4,535 Public and publicly guaranteed 10 112 -16 401 469 1,657 1,391 1,374 2,477 4,670 Official 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 -16 Private 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 -1 Private 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 0 Memo: IBRD -1 4 -6 27 32 38 36 26 24 36 IDA 0 0 0 0 0 0 0 0 0 0 306 LEBANON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 1 6 11 149 201 263 361 461 646 963 Public and publicly guaranteed 1 6 11 146 164 185 293 405 582 892 Official creditors 1 6 9 26 31 34 40 45 28 39 Multilateral 1 4 4 15 19 22 27 33 20 28 Concessional 0 1 0 4 7 8 11 13 2 8 Bilateral 0 2 5 11 11 13 13 12 7 12 Concessional 0 2 0 8 8 8 8 8 5 7 Private creditors 0 0 2 120 133 151 253 360 554 853 Bonds 0 0 0 72 81 99 191 300 536 806 Commercial banks 0 0 0 36 50 49 60 58 16 46 Other private 0 0 2 12 2 2 2 2 2 1 Private nonguaranteed 0 0 0 2 37 77 69 57 65 71 Bonds 0 0 0 2 37 77 69 57 65 71 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD 1 2 4 9 10 11 13 14 15 14 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 8 106 -27 612 744 1,295 916 978 1,931 3,572 Public and publicly guaranteed 8 106 -27 255 306 1,472 1,099 970 1,895 3,778 Official 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 -23 Private 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 -2 Private 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 0 Memo: 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 2,078 Public and publicly guaranteed 4 13 38 216 601 253 412 1,230 1,165 1,732 Official 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 32 Private 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 2 Private 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 0 Memo: 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 1,118 988 775 781 654 665 Official creditors 1 164 79 875 898 813 712 751 638 642 Private creditors 0 237 37 332 220 175 63 31 16 24 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 12.9 8.1 Deutsche mark 0.0 0.7 5.3 2.7 8.3 5.1 3.2 2.4 .. .. French franc 21.9 6.0 31.7 6.2 4.5 2.7 1.8 1.4 .. .. Japanese yen 0.0 0.0 0.5 0.0 0.0 0.0 0.1 0.1 0.1 0.1 Pound sterling 0.0 0.0 0.7 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 44.7 53.7 41.0 65.0 62.0 72.9 67.5 71.3 79.1 86.5 Multiple currency 0.0 18.4 9.4 6.8 6.6 5.0 4.5 3.8 2.9 2.2 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 All other currencies 33.3 21.2 10.8 19.2 18.6 14.3 22.7 20.9 5.1 3.2 307 LEBANON (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 17.5 Official 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 53.1 Private 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 17.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 208 163 111 77 46 28 16 7 6 2 Principal 1,905 2,525 2,171 2,198 730 1,184 1,086 415 402 373 Interest 1,137 975 737 484 401 344 251 166 148 132 Official creditors Disbursements 189 160 110 77 46 28 16 7 6 2 Principal 107 119 128 183 136 135 138 127 117 88 Interest 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 9 Private creditors Disbursements 19 3 1 0 0 0 0 0 0 0 Principal 1,798 2,406 2,044 2,015 594 1,049 948 289 285 285 Interest 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 1,069 911 680 435 361 309 221 142 129 117 308 LESOTHO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 8.1 71.9 395.6 701.2 673.5 688.2 682.1 671.4 594.1 637.1 Long-term debt (LDOD) 8.1 57.7 377.7 663.5 641.9 660.5 661.0 656.3 574.9 611.1 Public and publicly guaranteed 8.1 57.7 377.7 663.5 641.9 660.5 661.0 656.3 574.9 611.1 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 6.2 15.1 33.8 27.5 23.6 17.1 11.1 15.2 22.0 Short-term debt 0.0 8.0 2.8 4.0 4.0 4.1 4.0 4.0 4.0 4.0 of which interest arrears on LDOD 0.0 0.0 0.8 0.0 0.0 0.1 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.5 0.0 0.0 0.1 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD 0.0 0.0 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits 0.0 0.0 115.0 298.8 384.7 55.4 44.4 47.0 27.8 27.2 TOTAL DEBT FLOWS Disbursements 0.4 15.0 62.0 76.0 68.2 64.5 52.6 69.3 34.6 42.6 Long-term debt 0.4 13.3 57.9 76.0 68.2 64.5 52.6 69.3 25.7 33.5 IMF purchases 0.0 1.7 4.1 0.0 0.0 0.0 0.0 0.0 8.9 9.1 Principal repayments 0.3 3.4 15.0 22.0 27.4 29.4 32.8 38.8 51.3 52.3 Long-term debt 0.3 3.4 14.8 18.6 23.1 24.5 27.0 33.6 47.0 48.4 IMF repurchases 0.0 0.0 0.2 3.4 4.3 4.9 5.9 5.2 4.3 3.8 Net flows on debt 0.1 19.6 47.0 54.1 40.9 35.1 19.8 30.6 -16.7 -9.7 of which short-term debt 0.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest payments (INT) 0.2 2.1 8.3 16.2 20.3 22.3 21.9 23.2 17.8 14.9 Long-term debt 0.2 1.5 8.0 15.7 20.0 22.0 21.6 23.0 17.6 14.7 IMF charges 0.0 0.0 0.1 0.3 0.2 0.1 0.2 0.0 0.1 0.1 Short-term debt 0.0 0.6 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 Net transfers on debt -0.1 17.5 38.7 37.9 20.5 12.8 -2.1 7.4 -34.5 -24.6 Total debt service paid (TDS) 0.5 5.5 23.3 38.1 47.7 51.7 54.8 62.0 69.1 67.2 Long-term debt 0.5 4.8 22.8 34.3 43.1 46.5 48.5 56.6 64.5 63.2 IMF repurchases and charges 0.0 0.0 0.3 3.7 4.4 5.0 6.0 5.2 4.4 3.9 Short-term debt (interest only) 0.0 0.6 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7.4 66.5 120.1 389.8 351.9 337.9 211.6 181.1 126.2 108.6 Net 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 -14.9 Foreign direct investment (net) 0.0 4.5 17.1 287.5 268.1 264.8 163.3 117.8 117.0 80.8 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 7.3 52.0 59.9 44.9 38.7 33.1 22.7 27.6 30.5 42.7 Memo: 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 80.8 Interest on long-term debt 0.2 1.5 8.0 15.7 20.0 22.0 21.6 23.0 17.6 14.7 Profit remittances on FDI 0.0 6.0 12.7 45.0 40.6 51.3 28.5 15.0 16.0 13.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 89.0 694.8 1,021.4 1,273.5 1,358.2 1,140.6 1,155.2 1,078.7 942.9 955.2 Exports of goods, serv. & inc. (XGS) .. 363.5 555.0 683.0 731.2 605.8 541.9 542.7 555.7 568.0 Worker remit. & comp. of employees 0.0 263.0 427.9 387.7 378.7 294.6 275.9 252.2 209.4 209.4 Imports of goods & services (MGS) .. 482.4 775.9 1,174.1 1,202.0 1,041.8 909.8 832.8 784.2 808.0 International reserves (RES) .. 50.3 72.4 460.5 571.7 575.1 499.6 417.9 386.5 406.4 Current 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 92.1 113.6 125.9 123.7 106.9 112.2 EDT / GNI (%) 9.1 10.4 38.7 55.1 49.6 60.3 59.0 62.2 63.0 66.7 TDS / XGS (%) .. 1.5 4.2 5.6 6.5 8.5 10.1 11.4 12.4 11.8 INT / XGS (%) .. 0.6 1.5 2.4 2.8 3.7 4.0 4.3 3.2 2.6 INT / GNI (%) 0.2 0.3 0.8 1.3 1.5 2.0 1.9 2.2 1.9 1.6 RES / EDT (%) .. 69.9 18.3 65.7 84.9 83.6 73.2 62.2 65.1 63.8 RES / MGS (months) .. 1.3 1.1 4.7 5.7 6.6 6.6 6.0 5.9 6.0 Short-term / EDT (%) 0.0 11.1 0.7 0.6 0.6 0.6 0.6 0.6 0.7 0.6 Concessional / EDT (%) 87.0 61.6 73.7 66.8 64.6 65.1 66.5 66.7 71.8 74.1 Multilateral / EDT (%) 50.5 56.0 73.6 67.4 69.7 72.7 71.8 70.8 78.3 77.5 309 LESOTHO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 8.1 57.7 377.7 663.5 641.9 660.5 661.0 656.3 574.9 611.1 Public and publicly guaranteed 8.1 57.7 377.7 663.5 641.9 660.5 661.0 656.3 574.9 611.1 Official creditors 7.6 46.4 344.0 602.8 565.5 568.1 569.8 580.5 517.2 548.2 Multilateral 4.1 40.3 291.0 472.9 469.6 500.6 490.0 475.7 465.0 493.9 Concessional 4.1 40.3 251.6 377.1 374.3 401.7 401.5 389.6 385.5 430.8 Bilateral 3.5 6.1 53.1 129.9 95.9 67.5 79.8 104.8 52.3 54.4 Concessional 3.0 4.1 40.1 91.3 60.4 46.3 52.2 58.2 41.1 41.2 Private creditors 0.5 11.4 33.7 60.7 76.5 92.5 91.1 75.8 57.7 62.9 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 6.0 50.1 67.0 88.1 89.8 74.5 56.8 61.9 Other private 0.5 9.4 27.7 10.6 9.4 4.4 1.4 1.2 0.8 0.9 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 57.1 58.3 60.8 56.0 58.6 54.9 36.7 IDA 4.1 24.1 111.7 159.3 162.9 180.1 185.0 183.2 187.1 217.8 DISBURSEMENTS 0.4 13.3 57.9 76.0 68.2 64.5 52.6 69.3 25.7 33.5 Public and publicly guaranteed 0.4 13.3 57.9 76.0 68.2 64.5 52.6 69.3 25.7 33.5 Official creditors 0.2 8.0 51.4 43.6 43.8 35.4 37.3 67.4 23.3 33.5 Multilateral 0.0 6.5 32.0 35.0 37.3 29.1 16.2 21.2 23.1 33.5 Concessional 0.0 6.5 28.3 19.7 23.4 23.1 16.0 10.9 19.7 30.1 Bilateral 0.2 1.5 19.4 8.6 6.5 6.3 21.0 46.2 0.2 0.0 Concessional 0.2 0.9 15.2 3.9 5.9 4.6 12.3 17.0 0.0 0.0 Private creditors 0.2 5.3 6.5 32.5 24.4 29.1 15.4 2.0 2.3 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 2.0 3.0 32.5 23.8 29.1 15.4 2.0 2.3 0.0 Other private 0.2 3.3 3.5 0.0 0.6 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.0 0.0 0.0 7.2 8.2 3.4 0.1 9.9 3.2 3.5 IDA 0.0 3.8 9.2 11.7 11.6 14.3 10.2 7.8 12.7 22.2 PRINCIPAL REPAYMENTS 0.3 3.4 14.8 18.6 23.1 24.5 27.0 33.6 47.0 48.4 Public and publicly guaranteed 0.3 3.4 14.8 18.6 23.1 24.5 27.0 33.6 47.0 48.4 Official creditors 0.3 0.4 8.3 16.0 20.4 20.3 20.2 26.8 40.0 40.5 Multilateral 0.0 0.2 5.4 9.2 13.2 15.4 16.1 14.1 16.3 36.0 Concessional 0.0 0.2 3.0 6.2 7.5 7.5 8.1 7.2 8.8 9.5 Bilateral 0.3 0.2 2.9 6.8 7.2 4.9 4.0 12.7 23.7 4.4 Concessional 0.2 0.2 0.9 4.5 4.9 2.7 2.5 5.6 22.6 3.2 Private creditors 0.0 3.0 6.5 2.6 2.7 4.2 6.8 6.8 7.0 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 0.0 0.6 1.8 2.3 4.1 6.7 6.8 7.0 7.9 Other private 0.0 3.0 5.9 0.8 0.4 0.1 0.1 0.0 0.1 0.1 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 2.2 4.5 4.2 3.9 4.0 24.7 IDA 0.0 0.0 0.6 1.5 1.6 1.9 2.1 2.5 3.2 3.7 NET FLOWS ON DEBT 0.1 10.0 43.1 57.5 45.1 40.0 25.7 35.8 -21.3 -14.9 Public and publicly guaranteed 0.1 10.0 43.1 57.5 45.1 40.0 25.7 35.8 -21.3 -14.9 Official 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 -3.2 Private 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 -0.1 Private 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 0.0 Memo: 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 18.5 310 LESOTHO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.2 1.5 8.0 15.7 20.0 22.0 21.6 23.0 17.6 14.7 Public and publicly guaranteed 0.2 1.5 8.0 15.7 20.0 22.0 21.6 23.0 17.6 14.7 Official creditors 0.2 0.6 6.1 12.2 13.6 12.8 11.7 16.0 11.4 8.9 Multilateral 0.0 0.4 4.7 8.1 9.2 9.0 8.9 7.7 6.9 7.2 Concessional 0.0 0.3 2.1 3.1 3.5 3.7 3.7 3.3 3.0 3.6 Bilateral 0.2 0.2 1.4 4.1 4.4 3.7 2.8 8.3 4.5 1.7 Concessional 0.1 0.0 0.6 1.7 1.6 1.3 0.9 5.2 3.4 0.7 Private creditors 0.0 0.9 1.9 3.5 6.4 9.2 9.8 7.0 6.2 5.8 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 0.3 0.3 3.3 6.3 9.2 9.8 7.0 6.2 5.8 Other private 0.0 0.6 1.6 0.2 0.1 0.1 0.1 0.0 0.0 0.0 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 3.8 3.7 3.7 3.7 3.2 3.0 2.6 IDA 0.0 0.2 0.8 1.2 1.2 1.2 1.3 1.4 1.4 1.5 NET TRANSFERS ON DEBT -0.1 8.5 35.1 41.8 25.1 18.0 4.1 12.8 -38.9 -29.7 Public and publicly guaranteed -0.1 8.5 35.1 41.8 25.1 18.0 4.1 12.8 -38.9 -29.7 Official 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 -4.0 Private 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 -0.1 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.5 4.8 22.8 34.3 43.1 46.5 48.5 56.6 64.5 63.2 Public and publicly guaranteed 0.5 4.8 22.8 34.3 43.1 46.5 48.5 56.6 64.5 63.2 Official creditors 0.4 1.0 14.4 28.2 34.0 33.0 31.9 42.8 51.3 49.4 Multilateral 0.0 0.5 10.2 17.3 22.4 24.4 25.1 21.8 23.2 43.2 Concessional 0.0 0.4 5.2 9.3 11.0 11.2 11.8 10.5 11.8 13.1 Bilateral 0.4 0.4 4.2 10.9 11.6 8.6 6.8 21.0 28.2 6.1 Concessional 0.3 0.3 1.5 6.2 6.5 4.0 3.4 10.7 26.0 4.0 Private creditors 0.1 3.9 8.5 6.1 9.1 13.5 16.6 13.8 13.2 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 0.3 0.9 5.1 8.6 13.3 16.5 13.8 13.1 13.7 Other private 0.1 3.6 7.6 1.0 0.5 0.2 0.1 0.0 0.1 0.1 Private 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 0.0 Memo: IBRD 0.0 0.0 0.0 3.8 5.8 8.1 7.9 7.1 7.0 27.4 IDA 0.0 0.2 1.4 2.6 2.8 3.1 3.5 3.9 4.6 5.2 UNDISBURSED DEBT 0.8 118.0 315.0 292.8 212.3 176.4 303.1 205.5 137.6 118.8 Official creditors 0.1 110.0 312.3 222.4 165.2 161.3 297.1 201.2 135.4 116.2 Private creditors 0.7 8.0 2.7 70.3 47.1 15.1 6.0 4.4 2.2 2.6 Memorandum items Concessional LDOD 7.1 44.3 291.7 468.4 434.7 448.0 453.7 447.8 426.5 472.0 Variable rate LDOD 0.0 2.0 0.0 57.1 58.3 60.8 64.7 91.6 58.9 39.9 Public sector LDOD 8.1 55.7 376.5 662.8 641.4 660.1 660.5 656.0 574.7 611.0 Private sector LDOD 0.0 2.0 1.2 0.7 0.6 0.5 0.4 0.3 0.2 0.1 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 10.7 11.3 Deutsche mark 0.0 0.0 0.4 0.0 0.0 0.0 0.0 0.0 .. .. French franc 0.0 0.0 7.5 7.0 6.5 4.2 3.5 3.2 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 43.0 16.4 1.7 1.0 1.4 1.9 2.1 1.8 1.8 1.6 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.9 0.7 0.5 U.S.dollars 50.5 46.4 24.8 22.5 24.4 25.1 25.7 26.9 31.4 34.6 Multiple currency 0.0 7.0 5.6 20.3 16.7 16.0 15.2 13.5 12.9 9.3 Special drawing rights 0.0 0.0 9.9 6.4 6.2 6.3 6.0 5.7 6.1 6.1 All other currencies 6.5 30.1 50.1 42.7 44.8 46.5 47.1 47.1 36.4 36.7 311 LESOTHO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 3.7 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 0.0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 77.8 Official 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 77.8 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 33.5 30.1 28.8 21.6 14.5 9.6 7.4 4.4 1.8 0.6 Principal 48.4 35.9 35.4 35.2 34.7 31.0 28.9 24.8 22.4 22.7 Interest 14.7 14.1 13.1 12.1 11.1 10.1 9.3 8.6 8.2 7.9 Official creditors Disbursements 33.5 28.2 28.0 21.6 14.5 9.6 7.4 4.4 1.8 0.6 Principal 40.5 27.8 27.8 28.0 27.7 27.0 26.1 24.3 22.3 22.5 Interest 8.9 7.8 7.3 6.9 6.3 5.8 5.2 4.7 4.3 4.0 Bilateral creditors Disbursements 0.0 0.8 0.5 0.3 0.2 0.1 0.1 0.1 0.0 0.0 Principal 4.4 6.6 5.6 5.3 5.2 4.8 4.0 3.7 3.3 3.1 Interest 1.7 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.7 0.6 Multilateral creditors Disbursements 33.5 27.3 27.6 21.3 14.3 9.5 7.3 4.3 1.8 0.6 Principal 36.0 21.2 22.2 22.7 22.5 22.2 22.2 20.6 19.0 19.4 Interest 7.2 5.8 5.5 5.3 5.0 4.6 4.2 3.9 3.6 3.4 Private creditors Disbursements 0.0 1.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 8.0 8.1 7.7 7.2 7.0 4.0 2.8 0.5 0.1 0.1 Interest 5.8 6.2 5.7 5.2 4.7 4.3 4.1 3.9 3.9 3.9 Commercial banks Disbursements 0.0 1.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 7.9 7.7 7.2 7.2 7.0 4.0 2.8 0.5 0.1 0.1 Interest 5.8 6.2 5.7 5.2 4.7 4.3 4.1 3.9 3.9 3.9 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.1 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 312 LIBERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 162 686 1,849 2,107 2,012 2,103 2,077 2,032 2,164 2,324 Long-term debt (LDOD) 158 515 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065 Public and publicly guaranteed 158 515 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 4 89 322 325 305 317 309 292 281 304 Short-term debt 0 81 411 672 646 693 707 699 871 956 of 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 1 104 151 146 150 153 149 144 148 Memo: 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 1 192 199 192 199 204 197 189 196 Memo: 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 0 Long-term debt 7 76 0 0 0 0 0 0 0 0 IMF purchases 2 34 0 0 0 0 0 0 0 0 Principal repayments 17 18 2 0 0 1 1 1 1 0 Long-term debt 11 15 1 0 0 0 0 0 0 0 IMF repurchases 5 3 1 0 0 1 1 1 1 0 Net flows on debt -7 95 -1 11 -21 3 1 -5 -5 0 of which short-term debt 0 4 1 11 -21 4 1 -5 -5 0 Interest payments (INT) 6 35 1 1 0 0 2 0 0 1 Long-term debt 6 23 1 0 0 0 0 0 0 0 IMF charges 0 2 0 1 0 0 2 0 0 1 Short-term debt 0 11 0 0 0 0 0 0 0 0 Net transfers on debt -13 60 -2 10 -21 3 -1 -5 -6 -1 Total debt service paid (TDS) 23 54 3 1 0 1 3 1 1 1 Long-term debt 17 38 2 0 0 0 0 0 0 0 IMF repurchases and charges 5 5 1 1 0 1 3 1 1 1 Short-term debt (interest only) 0 11 0 0 0 0 0 0 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS -3 83 59 -37 283 250 339 -384 12 -18 Net flow of long-term debt (ex. IMF) -4 60 -1 0 0 0 0 0 0 0 Foreign direct investment (net) 0 0 0 -132 214 190 256 -431 -20 -65 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 1 23 60 95 69 60 82 47 32 47 Memo: 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 -18 Interest on long-term debt 6 23 1 0 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 343 930 .. .. 263 321 335 425 425 477 Exports of goods, serv. & inc. (XGS) 217 614 .. .. .. .. 64 134 143 163 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) 231 575 .. .. .. .. .. .. .. .. International reserves (RES) .. 5 .. 0 0 1 0 0 0 3 Current 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 1,423.4 EDT / GNI (%) 47.4 73.8 .. .. 765.8 655.3 619.7 478.4 509.1 487.3 TDS / XGS (%) 10.4 8.7 .. .. .. .. 4.0 0.5 0.6 0.6 INT / XGS (%) 2.8 5.8 .. .. .. .. 3.1 0.0 0.2 0.4 INT / GNI (%) 1.8 3.8 .. .. 0.1 0.1 0.6 0.0 0.1 0.1 RES / EDT (%) .. 0.8 .. 0.0 0.0 0.0 0.0 0.0 0.0 0.1 RES / 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 41.1 Concessional / EDT (%) 67.7 30.8 32.1 28.9 29.1 28.5 28.0 27.9 25.7 25.0 Multilateral / EDT (%) 4.8 19.1 23.4 20.1 20.1 19.9 19.2 19.5 17.7 17.5 313 LIBERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 158 515 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065 Public and publicly guaranteed 158 515 1,116 1,110 1,061 1,092 1,062 1,040 1,012 1,065 Official 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 110 179 410 408 388 398 384 374 366 385 Private 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 18 Private 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 0 Memo: IBRD 7 69 143 146 136 143 125 130 123 137 IDA 0 23 105 106 102 105 103 100 98 102 DISBURSEMENTS 7 76 0 0 0 0 0 0 0 0 Public and publicly guaranteed 7 76 0 0 0 0 0 0 0 0 Official creditors 7 65 0 0 0 0 0 0 0 0 Multilateral 2 33 0 0 0 0 0 0 0 0 Concessional 0 8 0 0 0 0 0 0 0 0 Bilateral 5 32 0 0 0 0 0 0 0 0 Concessional 4 30 0 0 0 0 0 0 0 0 Private creditors 0 11 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 6 0 0 0 0 0 0 0 0 Other private 0 5 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 2 17 0 0 0 0 0 0 0 0 IDA 0 5 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 11 15 1 0 0 0 0 0 0 0 Public and publicly guaranteed 11 15 1 0 0 0 0 0 0 0 Official creditors 5 4 1 0 0 0 0 0 0 0 Multilateral 0 2 1 0 0 0 0 0 0 0 Concessional 0 0 0 0 0 0 0 0 0 0 Bilateral 5 1 0 0 0 0 0 0 0 0 Concessional 4 1 0 0 0 0 0 0 0 0 Private creditors 7 12 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 9 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 2 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT -4 60 -1 0 0 0 0 0 0 0 Public and publicly guaranteed -4 60 -1 0 0 0 0 0 0 0 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 2 16 0 0 0 0 0 0 0 0 IDA 0 5 0 0 0 0 0 0 0 0 314 LIBERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 6 23 1 0 0 0 0 0 0 0 Public and publicly guaranteed 6 23 1 0 0 0 0 0 0 0 Official creditors 3 7 1 0 0 0 0 0 0 0 Multilateral 0 5 1 0 0 0 0 0 0 0 Concessional 0 0 0 0 0 0 0 0 0 0 Bilateral 3 2 0 0 0 0 0 0 0 0 Concessional 2 2 0 0 0 0 0 0 0 0 Private creditors 3 16 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 14 0 0 0 0 0 0 0 0 Other private 3 2 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 4 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -10 38 -2 0 0 0 0 0 0 0 Public and publicly guaranteed -10 38 -2 0 0 0 0 0 0 0 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 1 12 0 0 0 0 0 0 0 0 IDA 0 5 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 17 38 2 0 0 0 0 0 0 0 Public and publicly guaranteed 17 38 2 0 0 0 0 0 0 0 Official creditors 8 11 2 0 0 0 0 0 0 0 Multilateral 0 8 2 0 0 0 0 0 0 0 Concessional 0 0 0 0 0 0 0 0 0 0 Bilateral 8 3 0 0 0 0 0 0 0 0 Concessional 7 3 0 0 0 0 0 0 0 0 Private creditors 9 27 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 17 0 0 0 0 0 0 0 0 Other private 9 11 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 6 0 0 0 0 0 0 0 0 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 20 228 84 17 15 16 3 0 0 0 Official creditors 18 220 84 17 15 16 3 0 0 0 Private creditors 2 8 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 9.9 11.2 Deutsche mark 12.7 9.2 11.1 10.7 9.7 10.1 8.9 8.5 .. .. French franc 0.0 0.0 1.1 1.0 1.0 1.0 0.9 0.8 .. .. Japanese yen 0.0 7.6 6.1 7.1 6.6 7.3 8.4 7.7 6.9 7.2 Pound sterling 0.3 1.5 1.2 1.2 1.3 1.2 1.3 1.3 1.3 1.3 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 82.1 62.6 51.2 51.5 53.5 52.2 53.5 54.4 55.7 53.3 Multiple currency 4.9 17.4 22.7 20.4 20.1 20.4 19.3 19.9 19.6 20.3 Special drawing rights 0.0 0.0 1.5 1.5 1.5 1.5 1.5 1.4 1.4 1.5 All other currencies 0.0 1.7 5.2 6.5 6.4 6.3 6.2 6.1 5.3 5.3 315 LIBERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.6 7.3 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 18.7 18.8 24.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 4.4 4.5 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 20.7 25.1 42.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors Interest (%) 6.4 5.3 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 20.8 23.1 24.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 5.0 5.5 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 23.5 35.5 42.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 7.9 12.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.1 7.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.5 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 6.6 -3.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 12 40 30 0 0 0 0 0 0 0 Official creditors 10 29 30 0 0 0 0 0 0 0 Private creditors 2 11 0 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 0 0 0 0 0 0 0 0 0 0 Principal 27 19 18 17 15 14 12 11 11 11 Interest 5 4 4 3 3 3 2 2 2 2 Official creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 27 19 18 17 15 14 12 11 11 11 Interest 5 4 4 3 3 3 2 2 2 2 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 13 12 11 11 8 8 6 5 4 4 Interest 2 2 2 2 1 1 1 1 1 1 Multilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 14 7 7 7 7 7 7 7 7 7 Interest 3 2 2 2 2 2 1 1 1 1 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 316 LITHUANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,258 3,262 3,741 4,528 4,856 5,253 6,199 Long-term debt (LDOD) .. .. .. 828 1,962 2,446 3,228 3,550 3,543 3,955 Public and publicly guaranteed .. .. .. 736 1,053 1,221 2,123 2,188 2,363 2,486 Private nonguaranteed .. .. .. 92 909 1,226 1,106 1,362 1,180 1,469 Use of IMF credit .. .. .. 273 270 253 230 192 151 121 Short-term debt .. .. .. 157 1,030 1,042 1,070 1,114 1,558 2,123 of 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 0 Memo: 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 0 Memo: export credits .. .. .. 179 189 97 75 62 64 45 TOTAL DEBT FLOWS Disbursements .. .. .. 464 813 904 1,701 1,120 1,726 936 Long-term debt .. .. .. 419 757 904 1,701 1,120 1,726 936 IMF purchases .. .. .. 45 57 0 0 0 0 0 Principal repayments .. .. .. 82 250 695 640 883 1,659 952 Long-term debt .. .. .. 57 207 667 623 856 1,625 912 IMF repurchases .. .. .. 25 43 28 17 27 34 40 Net flows on debt .. .. .. 490 1,437 220 1,089 281 511 549 of which short-term debt .. .. .. 107 873 12 28 44 444 565 Interest payments (INT) .. .. .. 42 125 194 221 277 278 329 Long-term debt .. .. .. 24 77 121 150 212 209 235 IMF charges .. .. .. 12 12 12 10 11 8 4 Short-term debt .. .. .. 7 35 61 61 55 60 90 Net transfers on debt .. .. .. 448 1,312 26 868 4 234 220 Total debt service paid (TDS) .. .. .. 124 375 890 861 1,160 1,937 1,281 Long-term debt .. .. .. 81 284 788 774 1,068 1,834 1,147 IMF repurchases and charges .. .. .. 36 55 40 26 38 42 44 Short-term debt (interest only) .. .. .. 7 35 61 61 55 60 90 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 573 999 1,263 1,657 832 624 856 Net flow of long-term debt (ex. IMF) .. .. .. 362 549 236 1,077 264 101 24 Foreign direct investment (net) .. .. .. 152 355 926 487 379 446 713 Portfolio equity flows .. .. .. 16 31 11 9 122 -16 6 Grants (excluding technical coop.) .. .. .. 43 64 90 84 67 94 114 Memo: 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 1,341 497 270 498 Interest on long-term debt .. .. .. 24 77 121 150 212 209 235 Profit remittances on FDI .. .. .. 27 77 149 166 124 145 124 Memo: official net transfers .. .. .. 140 112 180 126 76 76 62 private net transfers .. .. .. 382 733 813 1,215 421 195 436 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 7,791 9,432 10,633 10,394 10,981 11,695 13,618 Exports of goods, serv. & inc. (XGS) .. .. .. 4,265 5,306 5,197 4,355 5,297 6,255 7,719 Worker remit. & comp. of employees .. .. .. 3 3 3 3 50 79 109 Imports of goods & services (MGS) .. .. .. 5,129 6,516 6,728 5,710 6,212 7,083 8,633 International reserves (RES) .. .. .. 841 1,064 1,463 1,249 1,363 1,669 2,420 Current account balance .. .. .. -723 -981 -1,298 -1,194 -675 -574 -721 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 29.5 61.5 72.0 104.0 91.7 84.0 80.3 EDT / GNI (%) .. .. .. 16.1 34.6 35.2 43.6 44.2 44.9 45.5 TDS / XGS (%) .. .. .. 2.9 7.1 17.1 19.8 21.9 31.0 16.6 INT / XGS (%) .. .. .. 1.0 2.4 3.7 5.1 5.2 4.4 4.3 INT / GNI (%) .. .. .. 0.5 1.3 1.8 2.1 2.5 2.4 2.4 RES / EDT (%) .. .. .. 66.8 32.6 39.1 27.6 28.1 31.8 39.0 RES / MGS (months) .. .. .. 2.0 2.0 2.6 2.6 2.6 2.8 3.4 Short-term / EDT (%) .. .. .. 12.5 31.6 27.9 23.6 22.9 29.7 34.2 Concessional / EDT (%) .. .. .. 9.2 3.6 3.4 2.7 2.3 2.0 1.7 Multilateral / EDT (%) .. .. .. 18.1 7.6 9.2 8.5 8.7 8.6 7.2 317 LITHUANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 828 1,962 2,446 3,228 3,550 3,543 3,955 Public and publicly guaranteed .. .. .. 736 1,053 1,221 2,123 2,188 2,363 2,486 Official 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 99 Private 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 .. .. .. 156 234 233 282 221 190 163 Private 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 1,429 Memo: IBRD .. .. .. 101 114 174 200 253 273 279 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 419 757 904 1,701 1,120 1,726 936 Public and publicly guaranteed .. .. .. 384 557 208 1,076 457 399 234 Official 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 0 Private 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 0 Private 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 1,327 702 Memo: IBRD .. .. .. 44 21 60 30 66 40 16 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 57 207 667 623 856 1,625 912 Public and publicly guaranteed .. .. .. 52 201 65 89 310 178 402 Official 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 7 Private 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 30 Private 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 1,447 510 Memo: 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 24 Public and publicly guaranteed .. .. .. 331 356 143 987 147 221 -168 Official 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 -7 Private 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 -30 Private 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 -120 192 Memo: IBRD .. .. .. 44 18 57 26 57 27 -10 IDA .. .. .. 0 0 0 0 0 0 0 318 LITHUANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 24 77 121 150 212 209 235 Public and publicly guaranteed .. .. .. 21 44 49 76 136 149 171 Official creditors .. .. .. 15 22 25 32 35 28 34 Multilateral .. .. .. 10 14 17 21 26 22 23 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 4 7 8 10 9 6 11 Concessional .. .. .. 2 2 2 4 4 3 4 Private creditors .. .. .. 7 22 24 44 101 121 136 Bonds .. .. .. 0 8 7 14 63 85 100 Commercial banks .. .. .. 0 4 5 17 20 22 24 Other private .. .. .. 6 10 11 13 18 14 12 Private nonguaranteed .. .. .. 2 33 72 75 76 60 64 Bonds .. .. .. 0 0 0 0 0 3 3 Commercial banks and other .. .. .. 2 33 72 75 76 57 62 Memo: IBRD .. .. .. 4 7 8 11 15 15 14 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 338 472 115 927 52 -108 -211 Public and publicly guaranteed .. .. .. 310 312 94 912 11 72 -338 Official 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 -11 Private 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 -42 Private 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 -177 130 Memo: 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 1,147 Public and publicly guaranteed .. .. .. 74 244 114 164 445 328 572 Official 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 11 Private 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 42 Private 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 1,504 572 Memo: IBRD .. .. .. 4 10 12 15 24 28 40 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 586 380 352 235 575 316 193 Official creditors .. .. .. 380 296 247 209 241 155 131 Private creditors .. .. .. 205 84 106 26 335 162 62 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 59.1 69.7 Deutsche mark .. .. .. 8.8 6.0 4.6 2.9 1.6 .. .. French franc .. .. .. 0.0 0.0 0.0 0.2 0.6 .. .. Japanese yen .. .. .. 8.4 5.9 5.9 3.6 2.9 1.9 1.7 Pound sterling .. .. .. 0.0 0.0 0.2 0.1 0.1 0.0 0.0 Swiss franc .. .. .. 1.3 0.6 0.2 0.1 0.0 0.0 0.0 U.S.dollars .. .. .. 49.8 61.6 58.7 40.7 33.4 28.7 19.6 Multiple currency .. .. .. 13.6 10.6 14.1 9.3 9.1 8.3 7.3 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 18.0 15.4 16.3 43.1 52.4 2.1 1.7 319 LITHUANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 0 0 0 0 Debt stock rescheduled .. .. .. 0 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 .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 37.4 Official 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 37.4 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 92 44 28 15 8 4 1 0 0 0 Principal 1,288 680 1,308 132 77 279 62 41 41 29 Interest 198 130 80 35 28 26 10 8 7 5 Official creditors Disbursements 33 42 27 15 8 4 1 0 0 0 Principal 84 76 104 69 58 57 54 41 41 29 Interest 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 4 Private creditors Disbursements 59 2 1 0 0 0 0 0 0 0 Principal 1,205 604 1,205 63 19 223 8 0 0 0 Interest 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 0 320 MACEDONIA, FYR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,818 1,234 1,481 1,430 1,465 1,458 1,619 Long-term debt (LDOD) .. .. .. 1,481 1,008 1,242 1,260 1,319 1,319 1,477 Public and publicly guaranteed .. .. .. 856 942 1,054 1,138 1,192 1,145 1,262 Private nonguaranteed .. .. .. 625 67 189 122 127 174 214 Use of IMF credit .. .. .. 68 88 102 102 81 71 67 Short-term debt .. .. .. 269 137 136 68 65 68 76 of 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 5 Memo: 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 15 Memo: export credits .. .. .. 124 224 208 191 197 178 152 TOTAL DEBT FLOWS Disbursements .. .. .. 127 147 264 233 149 148 245 Long-term debt .. .. .. 113 122 252 214 145 148 245 IMF purchases .. .. .. 14 25 12 19 4 0 0 Principal repayments .. .. .. 27 50 93 105 93 136 186 Long-term debt .. .. .. 26 49 91 88 74 128 177 IMF repurchases .. .. .. 1 0 2 17 19 8 9 Net flows on debt .. .. .. 186 146 170 61 51 9 62 of which short-term debt .. .. .. 85 48 -1 -67 -5 -3 3 Interest payments (INT) .. .. .. 32 70 65 53 45 59 52 Long-term debt .. .. .. 24 62 55 45 37 54 49 IMF charges .. .. .. 3 3 3 3 3 2 1 Short-term debt .. .. .. 5 5 7 5 5 3 2 Net transfers on debt .. .. .. 153 76 105 8 6 -50 10 Total debt service paid (TDS) .. .. .. 59 120 158 158 138 195 238 Long-term debt .. .. .. 50 111 146 133 111 183 226 IMF repurchases and charges .. .. .. 4 3 5 20 22 10 10 Short-term debt (interest only) .. .. .. 5 5 7 5 5 3 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 142 128 326 339 420 619 314 Net flow of long-term debt (ex. IMF) .. .. .. 87 73 161 126 71 20 68 Foreign direct investment (net) .. .. .. 11 16 128 33 175 442 77 Portfolio equity flows .. .. .. 1 5 8 1 0 0 0 Grants (excluding technical coop.) .. .. .. 43 34 29 180 174 158 169 Memo: technical coop. grants .. .. .. 19 9 20 26 31 59 70 official net resource flows .. .. .. 130 114 118 289 241 130 201 private net resource flows .. .. .. 12 13 208 51 179 489 112 NET TRANSFERS .. .. .. 117 65 270 293 375 557 256 Interest on long-term debt .. .. .. 24 62 55 45 37 54 49 Profit remittances on FDI .. .. .. 0 0 1 1 7 8 9 Memo: official net transfers .. .. .. 106 54 81 263 221 93 170 private net transfers .. .. .. 12 12 189 30 155 464 86 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 4,371 3,680 3,526 3,631 3,541 3,396 3,760 Exports of goods, serv. & inc. (XGS) .. .. .. 1,392 1,425 1,528 1,563 1,760 1,521 1,507 Worker remit. & comp. of employees .. .. .. 68 78 63 77 81 73 106 Imports of goods & services (MGS) .. .. .. 1,848 1,934 2,084 1,983 2,366 2,039 2,238 International reserves (RES) .. .. .. 268 280 335 460 460 799 790 Current account balance .. .. .. -288 -275 -270 -32 -72 -244 -325 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 130.6 86.6 96.9 91.4 83.3 95.9 107.5 EDT / GNI (%) .. .. .. 41.6 33.5 42.0 39.4 41.4 42.9 43.1 TDS / XGS (%) .. .. .. 4.3 8.4 10.4 10.1 7.9 12.8 15.8 INT / XGS (%) .. .. .. 2.3 4.9 4.2 3.4 2.6 3.9 3.4 INT / GNI (%) .. .. .. 0.7 1.9 1.8 1.5 1.3 1.7 1.4 RES / EDT (%) .. .. .. 14.7 22.7 22.6 32.1 31.4 54.8 48.8 RES / MGS (months) .. .. .. 1.7 1.7 1.9 2.8 2.3 4.7 4.2 Short-term / EDT (%) .. .. .. 14.8 11.1 9.2 4.7 4.4 4.7 4.7 Concessional / EDT (%) .. .. .. 8.6 16.4 17.4 21.5 23.2 23.0 25.3 Multilateral / EDT (%) .. .. .. 19.2 32.5 31.2 37.1 38.4 38.0 40.6 321 MACEDONIA, FYR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 1,481 1,008 1,242 1,260 1,319 1,319 1,477 Public and publicly guaranteed .. .. .. 856 942 1,054 1,138 1,192 1,145 1,262 Official 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 32 Private 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 7 Private nonguaranteed .. .. .. 625 67 189 122 127 174 214 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 625 67 189 122 127 174 214 Memo: IBRD .. .. .. 78 85 108 110 116 117 138 IDA .. .. .. 125 146 181 223 249 254 293 DISBURSEMENTS .. .. .. 113 122 252 214 145 148 245 Public and publicly guaranteed .. .. .. 113 113 144 173 91 62 138 Official creditors .. .. .. 112 112 139 148 90 62 136 Multilateral .. .. .. 97 106 88 125 79 53 76 Concessional .. .. .. 44 59 30 62 44 16 38 Bilateral .. .. .. 15 7 51 23 11 9 60 Concessional .. .. .. 7 0 20 3 7 3 1 Private creditors .. .. .. 1 0 6 25 1 0 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 25 0 0 3 Other private .. .. .. 1 0 5 0 1 0 0 Private nonguaranteed .. .. .. 0 10 108 41 54 86 107 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 10 108 41 54 86 107 Memo: IBRD .. .. .. 2 19 43 12 13 8 15 IDA .. .. .. 44 29 29 45 38 15 18 PRINCIPAL REPAYMENTS .. .. .. 26 49 91 88 74 128 177 Public and publicly guaranteed .. .. .. 26 33 50 43 25 92 106 Official creditors .. .. .. 25 32 50 40 23 90 103 Multilateral .. .. .. 25 25 25 25 20 49 38 Concessional .. .. .. 0 2 0 0 0 4 0 Bilateral .. .. .. 0 8 25 14 3 41 65 Concessional .. .. .. 0 0 4 1 0 15 2 Private creditors .. .. .. 1 1 1 3 2 2 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 1 0 0 3 2 1 1 Other private .. .. .. 0 1 0 0 0 1 3 Private nonguaranteed .. .. .. 0 16 41 46 49 37 71 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 16 41 46 49 37 71 Memo: IBRD .. .. .. 15 6 4 3 3 4 6 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 87 73 161 126 71 20 68 Public and publicly guaranteed .. .. .. 87 80 94 130 66 -29 32 Official 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 -1 Private 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 -3 Private 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 36 Memo: IBRD .. .. .. -13 13 39 9 10 5 10 IDA .. .. .. 44 29 29 45 38 15 18 322 MACEDONIA, FYR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 24 62 55 45 37 54 49 Public and publicly guaranteed .. .. .. 24 61 48 35 30 48 42 Official creditors .. .. .. 24 61 37 26 20 37 31 Multilateral .. .. .. 16 36 17 18 19 21 19 Concessional .. .. .. 1 1 3 2 4 4 4 Bilateral .. .. .. 8 25 21 8 1 16 12 Concessional .. .. .. 0 1 1 0 0 1 1 Private creditors .. .. .. 0 0 11 10 10 11 11 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 10 9 10 10 11 Other private .. .. .. 0 0 0 0 0 1 0 Private nonguaranteed .. .. .. 0 1 7 10 7 7 7 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 1 7 10 7 7 7 Memo: IBRD .. .. .. 6 6 5 7 7 8 7 IDA .. .. .. 1 1 1 1 2 2 2 NET TRANSFERS ON DEBT .. .. .. 63 11 106 81 34 -34 19 Public and publicly guaranteed .. .. .. 63 19 46 95 36 -77 -10 Official 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 -2 Private 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 -3 Private 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 29 Memo: IBRD .. .. .. -19 7 34 1 2 -3 2 IDA .. .. .. 43 28 28 44 37 13 16 DEBT SERVICE (LTDS) .. .. .. 50 111 146 133 111 183 226 Public and publicly guaranteed .. .. .. 50 94 98 78 55 139 148 Official creditors .. .. .. 49 93 87 65 43 127 134 Multilateral .. .. .. 40 60 42 43 39 70 57 Concessional .. .. .. 1 3 3 2 4 8 4 Bilateral .. .. .. 9 33 45 22 4 57 77 Concessional .. .. .. 0 1 5 1 1 16 3 Private creditors .. .. .. 2 1 11 13 12 13 14 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 1 0 10 12 12 11 11 Other private .. .. .. 0 1 1 1 0 1 3 Private nonguaranteed .. .. .. 0 17 48 55 56 43 78 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 17 48 55 56 43 78 Memo: IBRD .. .. .. 21 12 9 10 11 12 13 IDA .. .. .. 1 1 1 1 2 2 2 UNDISBURSED DEBT .. .. .. 118 131 290 305 253 235 181 Official creditors .. .. .. 112 125 280 299 248 230 176 Private creditors .. .. .. 6 5 11 5 5 6 5 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 20.3 25.9 Deutsche mark .. .. .. 13.6 14.1 15.7 11.5 8.5 .. .. French franc .. .. .. 5.1 3.7 3.4 2.6 2.0 .. .. Japanese yen .. .. .. 4.4 0.4 0.4 0.4 0.4 0.3 0.3 Pound sterling .. .. .. 1.4 0.3 0.2 0.2 0.2 0.2 0.1 Swiss franc .. .. .. 5.6 4.6 3.8 2.8 2.5 2.5 2.2 U.S.dollars .. .. .. 51.0 60.6 67.9 70.6 72.7 74.3 69.1 Multiple currency .. .. .. 15.8 11.0 3.6 2.6 2.1 1.9 1.7 Special drawing rights .. .. .. 0.1 0.0 0.1 0.1 0.3 0.4 0.4 All other currencies .. .. .. 3.1 5.3 4.9 9.3 11.4 0.2 0.2 323 MACEDONIA, FYR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 73 229 0 0 44 0 1 Debt stock rescheduled .. .. 0 0 141 0 0 0 0 0 Principal rescheduled .. .. 0 64 39 0 0 29 0 0 Official .. .. 0 64 0 0 0 28 0 0 Private .. .. 0 0 39 0 0 1 0 0 Interest rescheduled .. .. 0 9 76 0 0 15 0 0 Official .. .. 0 9 0 0 0 14 0 0 Private .. .. 0 0 76 0 0 1 0 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 0 0 129 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 3.7 2.8 4.5 3.3 5.0 2.1 4.0 Maturity (years) .. .. .. 20.2 24.1 19.8 22.5 19.9 24.0 16.2 Grace period (years) .. .. .. 5.9 8.2 8.1 6.7 6.7 10.2 6.1 Grant element (%) .. .. .. 43.4 54.0 39.1 49.2 35.1 61.6 37.8 Official creditors Interest (%) .. .. .. 3.6 2.8 4.3 3.4 4.9 2.0 4.0 Maturity (years) .. .. .. 20.5 24.1 20.3 22.9 20.1 24.4 16.2 Grace period (years) .. .. .. 6.0 8.2 8.4 6.7 6.8 10.4 6.1 Grant element (%) .. .. .. 44.2 54.0 40.4 49.4 35.5 62.6 38.1 Private creditors Interest (%) .. .. .. 6.7 0.0 8.1 3.2 9.2 5.8 6.7 Maturity (years) .. .. .. 3.0 0.0 7.7 19.6 3.4 2.1 15.3 Grace period (years) .. .. .. 0.3 0.0 2.9 6.8 0.5 0.2 4.8 Grant element (%) .. .. .. 4.8 0.0 6.6 47.5 1.0 4.7 18.6 Memorandum items Commitments .. .. .. 62 140 258 180 113 56 72 Official creditors .. .. .. 61 140 247 160 112 55 71 Private creditors .. .. .. 1 0 10 21 1 1 1 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 74 39 23 16 11 7 4 3 2 1 Principal 153 126 104 117 106 100 119 116 113 92 Interest 42 38 35 31 27 24 20 17 12 9 Official creditors Disbursements 71 38 23 16 11 7 4 3 2 1 Principal 74 73 73 64 63 70 78 78 55 46 Interest 32 30 27 25 22 19 16 13 10 8 Bilateral creditors Disbursements 9 8 6 4 3 2 1 1 1 0 Principal 44 44 43 33 33 33 33 33 13 2 Interest 14 12 10 8 7 5 4 2 0 0 Multilateral creditors Disbursements 62 30 17 12 8 6 3 2 1 1 Principal 30 29 30 31 30 36 44 44 43 44 Interest 18 18 17 16 15 14 12 11 9 8 Private creditors Disbursements 3 1 1 0 0 0 0 0 0 0 Principal 79 53 31 53 43 31 42 39 58 46 Interest 10 8 8 6 6 5 4 4 2 1 Commercial banks Disbursements 3 1 1 0 0 0 0 0 0 0 Principal 10 10 10 24 25 24 36 36 46 46 Interest 6 6 6 6 5 4 4 3 2 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 68 43 21 29 18 7 6 3 12 0 Interest 4 2 2 1 1 0 0 1 0 0 324 MADAGASCAR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 485 1,248 3,704 4,146 4,109 4,394 4,755 4,701 4,160 4,518 Long-term debt (LDOD) 485 918 3,335 3,552 3,875 4,106 4,369 4,295 3,793 4,137 Public and publicly guaranteed 485 918 3,335 3,552 3,875 4,106 4,369 4,295 3,793 4,137 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 87 144 73 69 58 63 104 127 150 Short-term debt 0 244 226 521 165 230 324 301 239 231 of 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 13 Memo: 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 36 Memo: export credits 0 0 795 810 811 472 425 431 413 633 TOTAL DEBT FLOWS Disbursements 54 444 231 156 336 102 147 200 169 201 Long-term debt 54 375 213 137 318 102 128 150 140 186 IMF purchases 0 70 17 20 19 0 19 50 29 15 Principal repayments 45 44 121 60 118 72 76 79 35 39 Long-term debt 45 42 69 43 100 58 64 74 34 37 IMF repurchases 0 2 51 17 18 14 12 5 1 2 Net flows on debt 9 475 194 60 210 99 165 45 130 158 of which short-term debt 0 75 83 -36 -8 69 94 -76 -4 -4 Interest payments (INT) 16 56 102 23 94 53 83 38 33 34 Long-term debt 16 26 85 18 93 51 76 28 28 30 IMF charges 0 1 10 1 0 0 0 0 1 1 Short-term debt 0 29 7 4 1 2 6 9 4 4 Net transfers on debt -7 419 91 37 116 46 82 7 98 124 Total debt service paid (TDS) 61 100 223 83 212 125 159 117 67 73 Long-term debt 61 68 155 62 193 109 140 102 62 67 IMF repurchases and charges 0 3 61 17 18 14 13 5 1 2 Short-term debt (interest only) 0 29 7 4 1 2 6 9 4 4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 39 362 514 305 797 416 304 274 339 262 Net flow of long-term debt (ex. IMF) 9 333 144 93 217 44 65 76 106 149 Foreign direct investment (net) 10 -1 22 10 14 17 58 83 93 8 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 20 30 348 202 566 355 181 115 140 105 Memo: 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 23 334 428 278 697 358 218 241 306 227 Interest on long-term debt 16 26 85 18 93 51 76 28 28 30 Profit remittances on FDI 0 1 1 9 7 7 9 4 5 4 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,109 4,024 2,958 3,837 3,454 3,665 3,675 3,807 4,470 4,332 Exports of goods, serv. & inc. (XGS) .. 519 490 815 808 854 931 1,210 1,303 736 Worker remit. & comp. of employees 0 0 5 6 6 6 6 6 6 6 Imports of goods & services (MGS) .. 1,121 985 1,171 1,195 1,231 1,262 1,584 1,572 1,101 International reserves (RES) 37 9 92 241 282 171 227 285 398 363 Current account balance .. -556 -265 -153 -202 -289 -225 -260 -140 -270 4. DEBT INDICATORS EDT / XGS (%) .. 240.6 756.0 508.7 508.5 514.6 510.9 388.4 319.3 614.0 EDT / GNI (%) 43.8 31.0 125.2 108.0 119.0 119.9 129.4 123.5 93.1 104.3 TDS / XGS (%) .. 19.3 45.5 10.2 26.2 14.7 17.1 9.6 5.2 9.9 INT / XGS (%) .. 10.9 20.8 2.8 11.6 6.3 8.9 3.1 2.5 4.7 INT / GNI (%) 1.5 1.4 3.5 0.6 2.7 1.5 2.3 1.0 0.7 0.8 RES / EDT (%) 7.7 0.7 2.5 5.8 6.9 3.9 4.8 6.1 9.6 8.0 RES / MGS (months) .. 0.1 1.1 2.5 2.8 1.7 2.2 2.2 3.0 4.0 Short-term / EDT (%) 0.0 19.5 6.1 12.6 4.0 5.2 6.8 6.4 5.7 5.1 Concessional / EDT (%) 93.1 37.4 46.5 51.4 65.2 66.3 61.4 61.2 66.4 67.8 Multilateral / EDT (%) 8.6 14.6 33.2 38.7 40.4 40.5 37.9 38.9 44.5 47.1 325 MADAGASCAR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 485 918 3,335 3,552 3,875 4,106 4,369 4,295 3,793 4,137 Public and publicly guaranteed 485 918 3,335 3,552 3,875 4,106 4,369 4,295 3,793 4,137 Official 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 1,109 970 997 Private 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 17 Private 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 0 Memo: 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 DISBURSEMENTS 54 375 213 137 318 102 128 150 140 186 Public and publicly guaranteed 54 375 213 137 318 102 128 150 140 186 Official creditors 54 212 212 136 317 102 128 150 140 186 Multilateral 6 42 136 108 210 98 120 143 138 185 Concessional 5 38 120 91 208 98 118 134 131 181 Bilateral 48 170 77 28 107 5 8 7 2 1 Concessional 48 115 77 25 6 5 7 5 1 1 Private creditors 0 163 1 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 62 0 0 0 0 0 0 0 0 Other private 0 101 1 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 1 2 0 0 0 0 0 0 0 0 IDA 5 25 64 78 130 77 84 94 97 163 PRINCIPAL REPAYMENTS 45 42 69 43 100 58 64 74 34 37 Public and publicly guaranteed 45 42 69 43 100 58 64 74 34 37 Official creditors 45 19 53 38 99 57 63 73 32 37 Multilateral 3 1 19 36 65 36 36 37 20 25 Concessional 0 0 9 20 25 20 23 25 15 15 Bilateral 41 18 34 2 34 21 27 36 12 12 Concessional 41 17 9 1 30 20 17 34 10 12 Private creditors 1 23 16 5 2 1 1 0 2 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 12 11 2 0 0 0 0 2 0 Other private 1 12 6 3 1 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 3 4 4 1 1 0 0 0 IDA 0 0 3 9 10 12 15 17 10 6 NET FLOWS ON DEBT 9 333 144 93 217 44 65 76 106 149 Public and publicly guaranteed 9 333 144 93 217 44 65 76 106 149 Official 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 -11 Private 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 0 Private 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 0 Memo: IBRD 1 1 -3 -4 -4 -1 -1 0 0 0 IDA 5 25 61 69 120 65 69 77 87 157 326 MADAGASCAR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 16 26 85 18 93 51 76 28 28 30 Public and publicly guaranteed 16 26 85 18 93 51 76 28 28 30 Official creditors 16 8 72 17 93 51 76 28 28 29 Multilateral 1 4 18 14 42 19 17 17 13 16 Concessional 0 1 7 11 16 14 13 14 11 14 Bilateral 15 4 54 2 51 32 60 11 15 12 Concessional 15 3 11 1 26 22 21 4 4 4 Private creditors 0 19 13 2 0 0 0 0 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 10 1 0 0 0 0 1 1 Other private 0 10 3 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 2 2 1 0 0 0 0 0 0 IDA 0 1 5 9 9 9 10 10 9 10 NET TRANSFERS ON DEBT -7 306 59 75 124 -7 -12 48 78 119 Public and publicly guaranteed -7 306 59 75 124 -7 -12 48 78 119 Official 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 -15 Private 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 0 Private 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 0 Memo: IBRD 1 -1 -5 -5 -4 -2 -1 0 0 0 IDA 5 24 55 60 111 55 59 67 78 148 DEBT SERVICE (LTDS) 61 68 155 62 193 109 140 102 62 67 Public and publicly guaranteed 61 68 155 62 193 109 140 102 62 67 Official creditors 61 27 125 55 191 108 139 102 59 66 Multilateral 4 4 37 51 107 55 53 54 33 41 Concessional 0 1 16 31 41 33 36 39 26 30 Bilateral 56 22 89 4 84 53 87 48 27 25 Concessional 56 20 20 2 56 42 39 38 14 16 Private creditors 1 42 29 7 2 1 1 1 3 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 20 21 3 1 0 1 0 3 1 Other private 1 22 9 3 1 0 0 0 0 0 Private 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 0 Memo: IBRD 0 3 5 5 4 2 1 0 0 0 IDA 0 1 8 17 18 21 25 27 19 16 UNDISBURSED DEBT 186 713 889 540 497 577 555 574 677 682 Official creditors 177 472 888 540 497 577 555 574 677 682 Private creditors 10 241 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 452 467 1,723 2,132 2,681 2,913 2,918 2,875 2,763 3,065 Variable rate LDOD 0 74 337 280 240 235 217 214 190 180 Public sector LDOD 483 904 3,259 3,404 3,745 3,951 4,232 4,173 3,692 4,029 Private sector LDOD 2 14 76 148 130 156 137 122 101 108 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 14.3 14.8 Deutsche mark 2.3 5.0 3.3 3.0 1.8 1.8 1.5 1.4 .. .. French franc 88.3 12.5 15.7 12.9 13.4 13.8 10.9 10.0 .. .. Japanese yen 0.0 7.3 7.3 7.5 7.5 8.2 8.4 7.6 7.1 6.9 Pound sterling 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.6 1.4 1.1 1.1 1.1 0.9 0.9 0.9 0.9 U.S.dollars 9.1 53.6 42.3 47.9 49.1 49.0 55.0 56.7 56.6 58.0 Multiple currency 0.3 4.0 8.6 10.0 9.1 8.8 8.1 7.7 8.2 7.9 Special drawing rights 0.0 0.0 3.2 3.2 2.7 2.8 2.1 2.1 2.4 2.4 All other currencies 0.0 16.8 18.1 14.3 15.2 14.5 13.0 13.5 10.5 9.0 327 MADAGASCAR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 88 0 972 46 41 0 36 20 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 65 0 578 29 27 0 12 9 Official .. .. 49 0 551 29 27 0 12 9 Private .. .. 16 0 28 0 0 0 0 0 Interest rescheduled .. .. 16 0 251 13 12 0 24 11 Official .. .. 14 0 245 13 12 0 24 11 Private .. .. 2 0 6 0 0 0 0 0 Debt forgiven .. .. 185 0 48 6 3 0 82 80 Memo: interest forgiven .. .. 0 0 17 1 1 0 69 38 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.3 5.7 1.1 0.6 2.7 0.9 0.8 0.8 0.8 0.8 Maturity (years) 39.0 18.2 36.2 37.9 36.2 35.9 40.4 40.1 40.4 40.6 Grace period (years) 9.2 4.6 9.7 10.0 9.3 9.0 9.9 10.2 10.9 10.2 Grant element (%) 65.4 27.5 74.9 80.7 62.6 74.8 79.6 80.6 81.0 80.7 Official creditors Interest (%) 1.4 3.7 1.1 0.6 2.7 0.9 0.8 0.8 0.8 0.8 Maturity (years) 44.6 28.1 36.4 37.9 36.2 35.9 40.4 40.1 40.4 40.6 Grace period (years) 10.4 6.1 9.7 10.0 9.3 9.0 9.9 10.2 10.9 10.2 Grant element (%) 75.3 46.5 75.2 80.7 62.6 74.8 79.6 80.6 81.0 80.7 Private creditors Interest (%) 6.5 7.4 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 10.5 9.7 5.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.8 3.3 1.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 14.8 11.3 12.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 22 467 211 78 338 180 176 187 260 143 Official creditors 19 215 210 78 338 180 176 187 260 143 Private creditors 4 252 1 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 168 110 94 83 71 56 41 24 15 8 Principal 86 90 82 85 91 101 108 111 118 123 Interest 57 70 68 67 65 64 62 60 57 55 Official creditors Disbursements 168 110 94 83 71 56 41 24 15 8 Principal 86 90 82 85 91 98 104 107 114 118 Interest 55 67 66 65 63 61 60 58 55 53 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 38 41 35 36 36 37 38 37 37 38 Interest 37 49 48 46 45 43 41 40 38 36 Multilateral creditors Disbursements 168 110 94 83 71 56 41 24 15 8 Principal 48 49 47 50 54 61 66 69 77 80 Interest 18 18 18 18 18 18 18 18 18 17 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 0 0 0 0 2 4 4 4 4 Interest 2 2 2 2 2 2 2 2 2 2 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 0 0 0 0 2 4 4 4 4 Interest 2 2 2 2 2 2 2 2 2 2 Other private 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 0 328 MALAWI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 135 830 1,558 2,315 2,228 2,444 2,751 2,716 2,604 2,912 Long-term debt (LDOD) 135 634 1,385 2,096 2,099 2,310 2,596 2,555 2,483 2,688 Public and publicly guaranteed 135 634 1,382 2,096 2,099 2,310 2,596 2,555 2,483 2,688 Private nonguaranteed 0 0 2 0 0 0 0 0 0 0 Use of IMF credit 0 80 115 119 106 102 88 83 73 95 Short-term debt 0 116 58 100 23 32 67 78 48 130 of which interest arrears on LDOD 0 3 6 5 3 14 24 37 27 37 Official creditors 0 1 4 4 2 12 22 34 27 37 Private creditors 0 1 2 1 1 2 2 2 1 1 Memo: principal arrears on LDOD 0 1 19 15 17 38 48 72 40 54 Official creditors 0 1 12 8 8 27 36 60 35 49 Private creditors 0 0 7 7 8 11 12 12 5 5 Memo: export credits 0 0 94 86 53 23 14 11 6 4 TOTAL DEBT FLOWS Disbursements 54 190 161 184 178 173 152 126 116 94 Long-term debt 53 153 136 161 167 156 141 117 116 72 IMF purchases 1 37 25 22 11 17 10 8 0 22 Principal repayments 3 34 86 56 55 60 50 38 25 20 Long-term debt 3 33 67 41 38 34 27 29 21 12 IMF repurchases 0 1 19 15 17 25 22 9 4 7 Net flows on debt 51 154 88 181 48 112 127 86 70 146 of which short-term debt 0 -1 13 53 -75 -2 25 -2 -21 72 Interest payments (INT) 4 53 47 33 30 24 19 20 14 17 Long-term debt 4 35 36 28 26 22 17 17 12 15 IMF charges 0 2 6 1 1 1 1 0 0 0 Short-term debt 0 16 4 4 3 1 2 3 1 1 Net transfers on debt 48 101 41 148 18 87 108 65 57 130 Total debt service paid (TDS) 6 87 133 89 85 84 69 59 39 36 Long-term debt 6 68 103 68 64 56 44 46 34 27 IMF repurchases and charges 0 3 25 16 18 26 23 9 4 8 Short-term debt (interest only) 0 16 4 4 3 1 2 3 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 65 178 320 336 263 347 427 342 326 253 Net flow of long-term debt (ex. IMF) 50 120 69 120 129 121 114 88 95 59 Foreign direct investment (net) 9 10 23 16 15 12 59 26 19 6 Portfolio equity flows 0 0 1 0 0 0 0 0 0 0 Grants (excluding technical coop.) 7 48 227 200 118 214 255 228 212 188 Memo: technical coop. grants 9 36 110 87 92 80 81 111 85 104 official net resource flows 55 148 294 324 249 336 368 316 307 247 private net resource flows 10 30 26 12 13 11 59 26 19 6 NET TRANSFERS 62 134 278 293 222 308 388 306 298 223 Interest on long-term debt 4 35 36 28 26 22 17 17 12 15 Profit remittances on FDI 0 9 5 15 14 17 23 18 16 15 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 283 1,138 1,837 2,393 2,492 1,695 1,768 1,668 1,655 1,864 Exports of goods, serv. & inc. (XGS) .. 315 452 556 592 583 524 471 484 479 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 638 638 818 959 710 810 680 686 840 International reserves (RES) 29 76 142 230 166 273 254 250 210 170 Current account balance .. -260 -86 -147 -276 -4 -158 -73 -60 -201 4. DEBT INDICATORS EDT / XGS (%) .. 263.7 344.4 416.1 376.5 419.0 525.0 576.2 537.5 608.3 EDT / GNI (%) 47.7 72.9 84.8 96.7 89.4 144.2 155.5 162.8 157.4 156.2 TDS / XGS (%) .. 27.8 29.3 15.9 14.4 14.4 13.1 12.4 8.0 7.6 INT / XGS (%) .. 16.8 10.3 5.9 5.1 4.2 3.6 4.3 2.8 3.5 INT / GNI (%) 1.2 4.7 2.5 1.4 1.2 1.4 1.1 1.2 0.8 0.9 RES / EDT (%) 21.6 9.2 9.1 10.0 7.4 11.2 9.2 9.2 8.1 5.8 RES / MGS (months) .. 1.4 2.7 3.4 2.1 4.6 3.8 4.4 3.7 2.4 Short-term / EDT (%) 0.0 14.0 3.7 4.3 1.1 1.3 2.5 2.9 1.9 4.5 Concessional / EDT (%) 58.0 31.1 67.5 84.0 88.5 89.3 90.0 90.3 92.4 89.5 Multilateral / EDT (%) 12.5 26.4 69.8 76.6 80.8 81.4 74.8 75.4 79.2 77.7 329 MALAWI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 135 634 1,385 2,096 2,099 2,310 2,596 2,555 2,483 2,688 Public and publicly guaranteed 135 634 1,382 2,096 2,099 2,310 2,596 2,555 2,483 2,688 Official 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 61 111 149 281 264 284 503 475 405 408 Private 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 10 Private 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 0 Memo: 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 DISBURSEMENTS 53 153 136 161 167 156 141 117 116 72 Public and publicly guaranteed 53 153 136 161 167 156 141 117 116 72 Official creditors 50 105 128 161 166 156 141 117 116 72 Multilateral 10 49 118 161 146 156 141 117 116 72 Concessional 10 28 109 161 142 147 128 115 116 72 Bilateral 40 56 10 0 20 0 0 0 0 0 Concessional 19 18 10 0 20 0 0 0 0 0 Private creditors 3 48 7 0 1 0 1 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 39 0 0 0 0 0 0 0 0 Other private 3 9 7 0 1 0 1 0 0 0 Private 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 0 Memo: IBRD 0 8 2 0 0 0 0 0 0 0 IDA 10 15 99 141 107 130 88 97 108 51 PRINCIPAL REPAYMENTS 3 33 67 41 38 34 27 29 21 12 Public and publicly guaranteed 3 33 65 41 38 34 27 29 21 12 Official creditors 2 5 61 37 35 33 27 29 21 12 Multilateral 0 1 20 26 25 29 27 29 14 12 Concessional 0 1 3 11 11 15 15 18 9 8 Bilateral 2 4 41 11 11 4 0 0 7 0 Concessional 1 1 4 7 9 4 0 0 7 0 Private creditors 1 28 4 4 3 1 0 0 0 0 Bonds 1 1 0 0 0 0 0 0 0 0 Commercial banks 0 21 0 0 0 0 0 0 0 0 Other private 0 6 4 4 3 1 0 0 0 0 Private 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 0 Memo: IBRD 0 0 8 9 6 10 8 8 4 2 IDA 0 1 3 8 9 11 14 16 9 5 NET FLOWS ON DEBT 50 120 69 120 129 121 114 88 95 59 Public and publicly guaranteed 50 120 70 120 129 121 114 88 95 59 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 0 8 -5 -9 -6 -10 -8 -8 -4 -2 IDA 10 14 96 133 98 120 75 81 99 46 330 MALAWI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 4 35 36 28 26 22 17 17 12 15 Public and publicly guaranteed 4 35 36 28 26 22 17 17 12 15 Official creditors 2 10 30 25 25 22 17 17 12 15 Multilateral 0 3 19 19 17 19 17 17 11 15 Concessional 0 1 6 12 12 13 13 14 11 14 Bilateral 2 7 12 6 8 3 0 0 1 0 Concessional 1 3 3 5 6 3 0 0 1 0 Private creditors 1 25 6 2 1 0 0 0 0 0 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 0 22 3 0 0 0 0 0 0 0 Other private 0 2 2 2 1 0 0 0 0 0 Private 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 0 Memo: IBRD 0 1 8 4 2 3 2 1 0 0 IDA 0 1 5 10 9 10 11 12 10 10 NET TRANSFERS ON DEBT 47 85 33 93 103 99 97 71 83 44 Public and publicly guaranteed 47 85 34 93 103 99 97 71 83 44 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 0 6 -13 -13 -8 -13 -10 -9 -5 -2 IDA 10 13 91 123 89 109 63 70 88 35 DEBT SERVICE (LTDS) 6 68 103 68 64 56 44 46 34 27 Public and publicly guaranteed 6 68 101 68 64 56 44 46 34 27 Official creditors 4 15 91 62 60 55 44 46 34 27 Multilateral 0 5 39 46 42 49 44 46 26 27 Concessional 0 2 9 23 23 29 28 32 20 22 Bilateral 4 11 53 17 18 7 0 0 8 0 Concessional 1 4 7 12 15 6 0 0 8 0 Private creditors 3 53 10 6 4 1 0 0 0 0 Bonds 2 1 0 0 0 0 0 0 0 0 Commercial banks 0 44 3 0 0 0 0 0 0 0 Other private 1 8 7 6 4 1 0 0 0 0 Private 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 0 Memo: IBRD 0 1 16 13 8 13 10 9 5 2 IDA 0 2 8 18 18 21 25 27 19 16 UNDISBURSED DEBT 39 162 574 601 478 557 478 369 307 296 Official creditors 39 152 562 598 472 551 472 369 307 296 Private creditors 0 10 12 3 6 6 5 0 0 0 Memorandum items Concessional LDOD 78 258 1,051 1,946 1,973 2,184 2,475 2,452 2,407 2,606 Variable rate LDOD 0 145 50 8 7 6 6 5 4 3 Public sector LDOD 135 585 1,372 2,093 2,096 2,307 2,593 2,553 2,481 2,685 Private sector LDOD 0 49 13 3 3 3 3 3 3 3 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.9 1.9 Deutsche mark 4.1 2.5 0.7 0.3 0.2 0.2 0.2 0.2 .. .. French franc 0.0 1.2 2.0 1.0 0.8 0.8 0.6 0.6 .. .. Japanese yen 0.0 4.1 9.3 10.6 9.1 9.2 9.3 8.4 5.9 5.4 Pound sterling 56.2 17.4 16.7 8.5 8.0 7.4 6.4 6.1 5.8 5.4 Swiss franc 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 U.S.dollars 12.9 46.5 46.9 51.8 54.5 56.4 59.9 61.5 65.0 65.2 Multiple currency 0.0 12.4 21.9 18.6 18.5 17.6 15.5 15.0 14.7 14.8 Special drawing rights 0.0 0.0 0.0 6.7 6.4 6.1 5.5 5.4 5.4 5.3 All other currencies 26.7 15.9 2.5 2.4 2.2 2.2 2.6 2.8 1.4 1.9 331 MALAWI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 0 0 0 0 0 6 1 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 0 6 2 Official .. .. 0 0 0 0 0 0 5 2 Private .. .. 0 0 0 0 0 0 1 0 Interest rescheduled .. .. 0 0 0 0 0 0 2 0 Official .. .. 0 0 0 0 0 0 2 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 51 0 0 0 0 0 72 39 Memo: interest forgiven .. .. 0 0 0 0 0 0 23 7 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.8 6.0 1.3 1.2 1.0 0.8 0.8 0.8 0.8 0.8 Maturity (years) 29.4 23.6 37.7 37.5 46.8 39.7 47.8 44.7 41.2 47.8 Grace period (years) 6.0 5.9 9.2 9.8 10.3 10.2 10.6 10.1 11.7 9.7 Grant element (%) 47.1 32.4 74.2 75.9 79.8 80.5 82.9 81.8 81.6 81.8 Official creditors Interest (%) 3.1 4.0 1.1 1.1 0.7 0.8 0.8 0.8 0.8 0.8 Maturity (years) 35.3 28.6 38.3 37.9 49.3 39.7 47.8 44.7 41.2 47.8 Grace period (years) 7.6 6.9 9.4 9.9 11.0 10.2 10.6 10.1 11.7 9.7 Grant element (%) 56.9 44.9 75.6 76.8 83.9 80.5 82.9 81.8 81.6 81.8 Private creditors Interest (%) 6.5 13.2 8.6 9.2 5.5 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.4 5.7 11.8 4.7 10.5 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.3 2.6 3.5 1.2 1.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 12.0 -12.3 6.2 1.5 17.5 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 14 130 259 207 80 214 102 59 86 50 Official creditors 11 102 253 205 75 214 102 59 86 50 Private creditors 3 28 5 3 5 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 74 71 51 37 27 17 13 3 2 0 Principal 67 70 84 88 89 82 88 91 93 93 Interest 29 28 27 26 25 24 23 22 20 19 Official creditors Disbursements 74 71 51 37 27 17 13 3 2 0 Principal 67 69 84 87 89 82 88 91 93 93 Interest 29 28 27 26 25 24 23 22 20 19 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 23 23 36 35 34 24 22 22 22 21 Interest 11 10 9 8 7 7 6 5 5 4 Multilateral creditors Disbursements 74 71 51 37 27 17 13 3 2 0 Principal 44 47 48 53 55 58 65 68 71 72 Interest 18 18 18 18 17 17 17 16 16 15 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 332 MALAYSIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 502 6,611 15,328 39,673 47,228 42,409 41,903 41,941 44,612 48,557 Long-term debt (LDOD) 440 5,256 13,422 28,605 32,289 33,940 35,892 37,300 38,321 40,188 Public and publicly guaranteed 390 4,007 11,592 15,702 16,807 18,155 18,930 19,234 24,140 26,200 Private nonguaranteed 50 1,248 1,830 12,903 15,482 15,786 16,961 18,067 14,181 13,988 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt 62 1,355 1,906 11,068 14,939 8,469 6,012 4,640 6,291 8,369 of 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 0 Memo: 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 0 Memo: 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 7,766 Long-term debt 58 1,456 1,683 8,936 8,803 6,724 4,621 5,921 7,110 7,766 IMF purchases 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 6,117 Long-term debt 57 345 3,167 6,343 4,276 3,806 2,853 4,146 4,088 6,117 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 1 1,592 -1,851 6,387 8,397 -3,552 -689 404 4,672 3,727 of which short-term debt 0 481 -367 3,794 3,871 -6,470 -2,457 -1,372 1,650 2,078 Interest payments (INT) 25 589 1,166 2,084 2,833 2,268 1,922 2,299 2,140 1,965 Long-term debt 25 338 997 1,432 1,588 1,612 1,603 2,033 1,946 1,731 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 251 169 652 1,245 656 319 266 195 235 Net transfers on debt -24 1,003 -3,017 4,303 5,565 -5,820 -2,611 -1,895 2,532 1,762 Total debt service paid (TDS) 82 934 4,333 8,427 7,109 6,074 4,775 6,445 6,229 8,082 Long-term debt 82 683 4,164 7,776 5,864 5,418 4,456 6,179 6,034 7,847 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 251 169 652 1,245 656 319 266 195 235 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 99 2,052 890 10,343 1,627 4,706 5,813 3,730 2,911 4,614 Net flow of long-term debt (ex. IMF) 1 1,111 -1,484 2,593 4,527 2,918 1,768 1,775 3,022 1,649 Foreign direct investment (net) 94 934 2,333 5,078 5,137 2,163 3,895 3,788 554 3,203 Portfolio equity flows 0 0 0 2,665 -8,049 -397 137 -1,841 -673 -250 Grants (excluding technical coop.) 4 6 42 7 13 21 13 9 8 12 Memo: 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 -3,016 Interest on long-term debt 25 338 997 1,432 1,588 1,612 1,603 2,033 1,946 1,731 Profit remittances on FDI 0 1,190 1,926 4,459 5,075 2,796 5,402 7,173 5,933 5,900 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 4,167 24,057 42,152 96,161 94,803 68,271 73,540 82,651 81,316 88,439 Exports of goods, serv. & inc. (XGS) .. 14,836 34,514 94,813 95,750 84,942 98,019 114,356 104,282 110,400 Worker remit. & comp. of employees 0 0 185 164 194 190 323 342 367 435 Imports of goods & services (MGS) .. 15,100 35,486 98,093 100,176 72,950 83,687 103,944 94,844 100,430 International reserves (RES) 667 5,755 10,659 27,892 21,470 26,236 30,931 29,844 30,798 34,623 Current account balance .. -266 -870 -4,462 -5,935 9,529 12,604 8,488 7,287 7,190 4. DEBT INDICATORS EDT / XGS (%) .. 44.6 44.4 41.8 49.3 49.9 42.8 36.7 42.8 44.0 EDT / GNI (%) 12.0 27.5 36.4 41.3 49.8 62.1 57.0 50.7 54.9 54.9 TDS / XGS (%) .. 6.3 12.6 8.9 7.4 7.2 4.9 5.6 6.0 7.3 INT / XGS (%) .. 4.0 3.4 2.2 3.0 2.7 2.0 2.0 2.1 1.8 INT / GNI (%) 0.6 2.4 2.8 2.2 3.0 3.3 2.6 2.8 2.6 2.2 RES / EDT (%) 133.0 87.1 69.5 70.3 45.5 61.9 73.8 71.2 69.0 71.3 RES / MGS (months) .. 4.6 3.6 3.4 2.6 4.3 4.4 3.4 3.9 4.1 Short-term / EDT (%) 12.4 20.5 12.4 27.9 31.6 20.0 14.3 11.1 14.1 17.2 Concessional / EDT (%) 18.8 8.6 14.6 6.4 4.3 5.5 6.5 7.0 7.1 6.6 Multilateral / EDT (%) 28.2 11.3 11.8 3.5 2.6 3.5 3.4 3.1 2.7 2.4 333 MALAYSIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 440 5,256 13,422 28,605 32,289 33,940 35,892 37,300 38,321 40,188 Public and publicly guaranteed 390 4,007 11,592 15,702 16,807 18,155 18,930 19,234 24,140 26,200 Official 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 3,194 Private 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 2,060 Private 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 10,729 Memo: 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 7,766 Public and publicly guaranteed 45 1,015 798 3,528 3,566 1,624 2,482 3,460 5,520 6,266 Official 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 2,084 435 Private 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 0 579 Private 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 1,500 Memo: 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 6,117 Public and publicly guaranteed 47 127 2,697 3,264 1,867 1,135 1,559 2,017 2,457 4,441 Official 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 17 123 840 535 164 585 666 679 403 Private 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 20 428 208 172 119 118 112 112 112 Private 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 1,127 Memo: 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 1,649 Public and publicly guaranteed -2 889 -1,899 264 1,699 489 923 1,444 3,063 1,825 Official 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 32 Private 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 -112 467 Private 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 -481 373 Memo: IBRD 16 54 41 -76 -75 208 -69 -86 -22 -70 IDA 0 0 0 0 0 0 0 0 0 0 334 MALAYSIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 25 338 997 1,432 1,588 1,612 1,603 2,033 1,946 1,731 Public and publicly guaranteed 22 250 956 856 903 1,000 1,086 1,171 1,278 1,189 Official 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 94 102 119 Private 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 75 Private 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 41 529 625 451 360 703 510 390 Memo: 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 -82 Public and publicly guaranteed -24 639 -2,855 -592 796 -511 -163 273 1,785 636 Official 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 -87 Private 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 -195 392 Private 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 -17 Memo: 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 7,847 Public and publicly guaranteed 69 376 3,653 4,120 2,770 2,134 2,645 3,187 3,736 5,630 Official 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 37 198 973 616 233 678 761 781 522 Private 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 57 539 273 222 215 212 205 195 187 Private 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 1,517 Memo: 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 3,323 Official creditors 181 1,404 1,795 1,621 831 559 2,314 1,520 2,697 3,001 Private creditors 20 357 273 622 362 353 2,106 3,577 523 322 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 0.8 3.2 Deutsche mark 6.9 3.3 5.9 0.8 0.5 0.4 0.3 0.2 .. .. French franc 0.0 13.0 2.8 0.5 0.4 0.4 0.3 0.2 .. .. Japanese yen 2.2 19.0 36.5 28.2 26.5 29.6 29.8 27.6 22.3 20.7 Pound sterling 37.8 3.6 1.6 1.2 1.1 0.9 0.8 0.7 0.5 0.5 Swiss franc 0.0 2.3 3.6 1.7 0.5 0.1 0.0 0.0 0.0 0.0 U.S.dollars 14.0 36.7 31.8 55.6 55.8 58.7 60.0 62.8 70.9 71.0 Multiple currency 36.3 21.0 15.0 11.5 15.0 9.7 8.6 7.7 5.3 4.5 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 2.8 1.2 2.7 0.3 0.2 0.2 0.1 0.9 0.1 0.1 335 MALAYSIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 25.5 Official 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 37.5 Private 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 22.2 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 1,723 885 464 178 41 32 0 0 0 0 Principal 2,920 4,597 5,494 4,749 5,280 3,008 5,538 2,118 1,383 886 Interest 1,714 1,653 1,503 1,288 1,069 914 718 546 476 391 Official creditors Disbursements 1,571 800 416 154 35 26 0 0 0 0 Principal 739 767 736 768 838 820 794 480 410 397 Interest 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 9 Private creditors Disbursements 152 85 48 24 6 6 0 0 0 0 Principal 2,181 3,830 4,758 3,981 4,442 2,188 4,744 1,638 974 489 Interest 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 1,026 851 738 574 434 379 309 336 MALDIVES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 25.8 78.0 168.2 171.3 193.6 218.9 206.0 234.9 270.4 Long-term debt (LDOD) .. 24.8 64.0 163.5 164.3 183.4 194.1 184.7 180.7 221.7 Public and publicly guaranteed .. 24.8 64.0 163.5 164.3 183.4 194.1 184.7 180.7 221.7 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. 1.0 14.0 4.7 7.0 10.2 24.8 21.4 54.3 48.7 of which interest arrears on LDOD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits .. 0.0 8.0 28.8 39.2 20.7 21.3 17.1 17.3 14.5 TOTAL DEBT FLOWS Disbursements .. 17.9 13.0 23.5 32.7 30.7 17.4 13.6 20.1 41.3 Long-term debt .. 17.9 13.0 23.5 32.7 30.7 17.4 13.6 20.1 41.3 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 0.0 6.0 7.8 24.2 11.6 12.3 13.9 15.8 16.5 Long-term debt .. 0.0 6.0 7.8 24.2 11.6 12.3 13.9 15.8 16.5 IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. 12.9 8.6 17.4 10.8 22.3 19.7 -3.8 37.2 19.2 of which short-term debt .. -5.0 1.6 1.7 2.3 3.2 14.6 -3.5 32.9 -5.6 Interest payments (INT) .. 0.5 2.8 3.9 4.4 4.3 5.4 5.9 6.0 5.7 Long-term debt .. 0.3 1.3 3.7 4.1 3.9 4.4 4.7 4.6 4.4 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. 0.3 1.5 0.2 0.4 0.4 0.9 1.2 1.4 1.3 Net transfers on debt .. 12.4 5.8 13.5 6.4 18.0 14.3 -9.7 31.3 13.5 Total debt service paid (TDS) .. 0.5 8.8 11.7 28.6 15.9 17.7 19.8 21.7 22.1 Long-term debt .. 0.3 7.3 11.5 28.2 15.5 16.7 18.7 20.4 20.8 IMF repurchases and charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. 0.3 1.5 0.2 0.4 0.4 0.9 1.2 1.4 1.3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 19.0 23.9 34.7 32.9 43.8 34.8 22.7 30.7 46.6 Net flow of long-term debt (ex. IMF) .. 17.9 7.0 15.7 8.5 19.1 5.1 -0.4 4.3 24.8 Foreign direct investment (net) .. 0.0 5.6 9.3 11.4 11.5 12.3 13.0 11.7 11.7 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. 1.1 11.3 9.8 13.0 13.2 17.5 10.0 14.6 10.1 Memo: 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 2.2 Interest on long-term debt .. 0.3 1.3 3.7 4.1 3.9 4.4 4.7 4.6 4.4 Profit remittances on FDI .. 1.5 13.9 23.0 29.8 31.7 34.2 34.4 39.5 40.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 193.8 428.5 480.8 511.9 558.2 594.3 586.5 603.0 Exports of goods, serv. & inc. (XGS) .. 65.2 183.8 374.9 409.3 435.5 443.3 467.5 471.1 493.2 Worker remit. & comp. of employees .. 0.0 1.7 2.7 2.5 2.5 2.2 2.2 1.8 1.8 Imports of goods & services (MGS) .. 89.8 177.7 381.3 436.1 447.1 502.1 492.0 500.8 496.6 International reserves (RES) .. 0.9 24.5 76.8 98.8 119.1 127.6 123.3 93.6 133.8 Current 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 54.8 EDT / GNI (%) .. .. 40.2 39.3 35.6 37.8 39.2 34.7 40.1 44.8 TDS / XGS (%) .. 0.8 4.8 3.1 7.0 3.7 4.0 4.2 4.6 4.5 INT / XGS (%) .. 0.8 1.5 1.0 1.1 1.0 1.2 1.3 1.3 1.1 INT / GNI (%) .. .. 1.4 0.9 0.9 0.8 1.0 1.0 1.0 0.9 RES / EDT (%) .. 3.7 31.4 45.7 57.7 61.5 58.3 59.9 39.8 49.5 RES / MGS (months) .. 0.1 1.7 2.4 2.7 3.2 3.1 3.0 2.2 3.2 Short-term / EDT (%) .. 3.9 18.0 2.8 4.1 5.3 11.3 10.4 23.1 18.0 Concessional / EDT (%) .. 96.1 71.0 81.0 79.1 73.8 68.7 69.1 59.5 60.3 Multilateral / EDT (%) .. 13.6 41.7 58.1 58.7 58.3 57.1 58.5 51.0 52.7 337 MALDIVES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 24.8 64.0 163.5 164.3 183.4 194.1 184.7 180.7 221.7 Public and publicly guaranteed .. 24.8 64.0 163.5 164.3 183.4 194.1 184.7 180.7 221.7 Official creditors .. 24.8 60.2 152.0 147.5 155.4 163.4 154.8 151.0 173.7 Multilateral .. 3.5 32.5 97.6 100.6 112.9 124.9 120.5 119.8 142.5 Concessional .. 3.5 32.5 97.3 99.1 109.9 120.4 115.4 114.9 137.1 Bilateral .. 21.3 27.6 54.3 47.0 42.5 38.5 34.3 31.2 31.3 Concessional .. 21.3 22.8 39.0 36.5 32.9 30.0 26.9 24.8 26.0 Private creditors .. 0.0 3.8 11.5 16.8 28.1 30.7 29.9 29.7 48.0 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 6.5 10.7 18.7 24.0 23.7 24.9 43.9 Other private .. 0.0 3.8 5.0 6.1 9.3 6.7 6.2 4.8 4.1 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 1.6 10.0 37.3 39.0 44.1 45.6 46.4 44.4 50.3 DISBURSEMENTS .. 17.9 13.0 23.5 32.7 30.7 17.4 13.6 20.1 41.3 Public and publicly guaranteed .. 17.9 13.0 23.5 32.7 30.7 17.4 13.6 20.1 41.3 Official creditors .. 17.9 9.6 18.5 23.5 15.0 7.2 6.3 10.2 17.2 Multilateral .. 2.6 3.6 11.8 11.0 14.8 6.8 6.1 9.6 13.7 Concessional .. 2.6 3.6 11.5 9.9 13.4 5.1 5.4 9.6 13.6 Bilateral .. 15.3 5.9 6.7 12.5 0.2 0.4 0.2 0.7 3.5 Concessional .. 15.3 1.1 6.7 1.8 0.2 0.4 0.2 0.7 3.5 Private creditors .. 0.0 3.5 5.0 9.2 15.8 10.2 7.3 9.9 24.1 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 3.9 5.7 10.7 10.0 6.1 9.9 24.1 Other private .. 0.0 3.5 1.1 3.4 5.0 0.2 1.2 0.0 0.0 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 1.6 1.2 2.5 3.8 3.7 2.7 3.3 0.1 3.2 PRINCIPAL REPAYMENTS .. 0.0 6.0 7.8 24.2 11.6 12.3 13.9 15.8 16.5 Public and publicly guaranteed .. 0.0 6.0 7.8 24.2 11.6 12.3 13.9 15.8 16.5 Official creditors .. 0.0 3.7 5.2 21.0 6.5 6.5 6.7 6.4 7.0 Multilateral .. 0.0 1.5 1.5 1.5 1.7 2.2 2.5 2.6 3.0 Concessional .. 0.0 1.5 1.5 1.5 1.7 2.2 2.5 2.6 3.0 Bilateral .. 0.0 2.2 3.6 19.5 4.8 4.3 4.2 3.8 4.0 Concessional .. 0.0 1.9 2.9 4.0 3.8 3.3 3.2 2.7 2.9 Private creditors .. 0.0 2.3 2.7 3.2 5.1 5.8 7.3 9.4 9.4 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 0.9 1.3 2.9 4.0 6.1 8.0 8.2 Other private .. 0.0 0.9 1.7 1.8 2.2 1.9 1.2 1.4 1.2 Private 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 0.0 Memo: 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 0.1 0.3 0.4 0.4 0.6 NET FLOWS ON DEBT .. 17.9 7.0 15.7 8.5 19.1 5.1 -0.4 4.3 24.8 Public and publicly guaranteed .. 17.9 7.0 15.7 8.5 19.1 5.1 -0.4 4.3 24.8 Official 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 0.6 Private 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 -1.2 Private 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 0.0 Memo: 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 2.6 338 MALDIVES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 0.3 1.3 3.7 4.1 3.9 4.4 4.7 4.6 4.4 Public and publicly guaranteed .. 0.3 1.3 3.7 4.1 3.9 4.4 4.7 4.6 4.4 Official creditors .. 0.3 0.8 2.9 3.0 2.7 2.7 2.6 2.5 2.5 Multilateral .. 0.0 0.3 1.2 1.3 1.3 1.5 1.5 1.5 1.6 Concessional .. 0.0 0.3 1.2 1.2 1.3 1.4 1.4 1.5 1.6 Bilateral .. 0.3 0.5 1.7 1.8 1.4 1.2 1.1 1.0 0.9 Concessional .. 0.3 0.3 0.6 0.6 0.6 0.6 0.5 0.5 0.4 Private creditors .. 0.0 0.5 0.8 1.0 1.2 1.7 2.2 2.1 1.9 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 0.1 0.3 0.7 0.9 1.2 1.8 1.8 1.6 Other private .. 0.0 0.4 0.4 0.4 0.3 0.5 0.4 0.3 0.3 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 NET TRANSFERS ON DEBT .. 17.6 5.7 12.0 4.4 15.2 0.6 -5.1 -0.2 20.4 Public and publicly guaranteed .. 17.6 5.7 12.0 4.4 15.2 0.6 -5.1 -0.2 20.4 Official 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 0.1 Private 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 -1.5 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) .. 0.3 7.3 11.5 28.2 15.5 16.7 18.7 20.4 20.8 Public and publicly guaranteed .. 0.3 7.3 11.5 28.2 15.5 16.7 18.7 20.4 20.8 Official creditors .. 0.3 4.5 8.1 24.0 9.2 9.2 9.2 8.8 9.6 Multilateral .. 0.0 1.8 2.7 2.8 3.0 3.7 4.0 4.1 4.7 Concessional .. 0.0 1.8 2.7 2.7 3.0 3.7 3.9 4.1 4.6 Bilateral .. 0.3 2.7 5.4 21.2 6.2 5.5 5.2 4.7 4.9 Concessional .. 0.3 2.2 3.5 4.7 4.5 3.8 3.7 3.2 3.3 Private creditors .. 0.0 2.8 3.4 4.2 6.3 7.6 9.4 11.5 11.3 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 1.3 2.0 3.8 5.2 7.9 9.8 9.8 Other private .. 0.0 1.2 2.2 2.2 2.5 2.3 1.6 1.7 1.5 Private 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 0.0 Memo: 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 0.4 0.6 0.7 0.8 0.9 UNDISBURSED DEBT .. 21.0 51.3 46.7 38.9 48.0 66.1 87.3 93.4 119.0 Official creditors .. 19.1 49.6 38.5 28.9 38.1 57.8 75.7 70.8 78.0 Private creditors .. 1.9 1.7 8.2 10.0 9.9 8.4 11.5 22.7 41.0 Memorandum items Concessional LDOD .. 24.8 55.4 136.3 135.6 142.9 150.4 142.3 139.7 163.1 Variable rate LDOD .. 0.0 0.0 16.8 6.6 13.2 16.7 15.1 14.8 12.0 Public sector LDOD .. 24.8 64.0 163.5 164.3 183.4 192.5 183.4 178.2 220.1 Private sector LDOD .. 0.0 0.0 0.0 0.0 0.0 1.5 1.2 2.5 1.7 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.2 15.6 Deutsche mark .. 0.0 13.0 0.9 0.1 2.6 1.9 1.5 .. .. French franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. 0.0 0.0 0.3 0.8 0.2 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.4 0.9 0.7 0.5 0.3 0.2 0.1 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 14.2 25.4 49.5 49.2 49.6 50.4 53.3 53.7 46.4 Multiple currency .. 0.0 12.4 21.2 21.7 20.7 24.0 22.3 20.3 18.8 Special drawing rights .. 0.0 0.0 1.7 1.7 1.6 1.7 1.8 4.9 4.6 All other currencies .. 85.8 48.8 25.5 25.9 24.8 21.6 20.9 16.8 14.6 339 MALDIVES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 2.9 0.8 6.4 5.6 4.1 2.8 3.7 5.1 3.5 Maturity (years) .. 14.7 37.3 9.6 8.6 17.2 19.9 26.6 14.8 18.0 Grace period (years) .. 4.4 9.2 2.8 1.9 3.8 4.6 6.9 3.5 3.7 Grant element (%) .. 41.2 77.2 17.7 17.1 33.4 47.8 47.7 27.3 38.7 Official creditors Interest (%) .. 2.5 0.8 2.4 5.1 2.3 1.6 2.5 2.7 1.7 Maturity (years) .. 15.5 37.3 16.5 9.3 27.9 24.4 34.7 27.2 30.7 Grace period (years) .. 4.7 9.2 5.0 1.7 6.6 5.7 9.3 9.0 7.8 Grant element (%) .. 44.2 77.2 46.6 19.7 55.4 60.2 63.3 58.1 66.3 Private creditors Interest (%) .. 7.5 0.0 8.1 6.2 6.2 6.7 6.6 5.9 4.3 Maturity (years) .. 6.6 0.0 6.5 7.6 5.6 5.4 7.4 10.8 11.5 Grace period (years) .. 1.1 0.0 1.8 2.2 0.8 1.0 1.1 1.7 1.7 Grant element (%) .. 6.9 0.0 5.0 13.7 9.5 8.3 10.1 17.1 24.6 Memorandum items Commitments .. 22 16 13 27 33 36 38 29 62 Official creditors .. 20 16 4 15 17 28 27 7 21 Private creditors .. 2 0 9 12 16 9 11 22 41 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 41.3 46.6 30.9 18.4 10.2 5.7 3.6 2.4 0.9 0.3 Principal 16.5 21.9 21.4 19.9 17.5 16.4 15.9 16.2 17.1 16.6 Interest 4.4 5.8 6.1 5.8 5.3 4.9 4.5 4.0 3.6 3.1 Official creditors Disbursements 17.2 21.9 19.7 13.9 9.6 5.7 3.6 2.4 0.9 0.3 Principal 7.0 9.1 9.6 10.0 10.3 9.2 8.7 9.2 10.1 9.9 Interest 2.5 2.8 2.9 2.9 2.9 2.8 2.7 2.5 2.4 2.3 Bilateral creditors Disbursements 3.5 7.4 6.2 4.4 2.7 1.6 0.8 0.5 0.1 0.0 Principal 4.0 4.6 4.8 5.0 5.0 4.7 3.1 3.1 3.0 3.1 Interest 0.9 0.8 0.8 0.8 0.7 0.6 0.5 0.4 0.4 0.3 Multilateral creditors Disbursements 13.7 14.5 13.5 9.5 6.8 4.1 2.8 1.9 0.8 0.3 Principal 3.0 4.5 4.7 5.0 5.3 4.5 5.6 6.1 7.1 6.8 Interest 1.6 2.0 2.1 2.2 2.2 2.2 2.2 2.1 2.0 2.0 Private creditors Disbursements 24.1 24.8 11.2 4.5 0.6 0.0 0.0 0.0 0.0 0.0 Principal 9.4 12.8 11.8 9.8 7.2 7.2 7.2 7.0 7.0 6.7 Interest 1.9 3.0 3.2 2.9 2.5 2.1 1.8 1.5 1.1 0.8 Commercial banks Disbursements 24.1 24.8 11.2 4.5 0.6 0.0 0.0 0.0 0.0 0.0 Principal 8.2 11.3 10.3 8.8 7.2 7.2 7.2 7.0 7.0 6.7 Interest 1.6 2.8 3.1 2.8 2.5 2.1 1.8 1.5 1.1 0.8 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.2 1.5 1.5 1.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 340 MALI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 249 727 2,468 3,007 3,152 3,205 3,189 2,974 2,911 2,803 Long-term debt (LDOD) 238 664 2,337 2,763 2,702 2,833 2,807 2,665 2,637 2,487 Public and publicly guaranteed 238 664 2,337 2,763 2,702 2,833 2,807 2,665 2,637 2,487 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 9 39 69 165 176 186 193 176 171 166 Short-term debt 3 24 62 79 275 185 189 134 103 151 of which interest arrears on LDOD 3 1 9 33 43 42 44 42 57 7 Official creditors 3 1 9 33 43 42 44 42 57 7 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 12 75 63 415 632 550 545 541 540 27 Official creditors 7 73 63 415 632 550 545 541 540 27 Private creditors 6 2 0 0 0 0 0 0 0 0 Memo: export credits 0 0 86 65 88 64 63 61 43 133 TOTAL DEBT FLOWS Disbursements 24 109 195 186 156 111 144 109 137 152 Long-term debt 23 95 167 156 128 96 121 100 114 143 IMF purchases 2 14 28 30 28 14 23 9 23 9 Principal repayments 4 9 44 54 49 55 75 66 61 65 Long-term debt 0 6 25 47 42 44 64 50 47 47 IMF repurchases 4 3 18 7 7 11 12 16 15 18 Net flows on debt 20 99 159 135 293 -33 71 -11 30 184 of which short-term debt 0 -1 8 3 186 -89 2 -53 -45 97 Interest payments (INT) 0 7 24 62 36 27 30 26 19 25 Long-term debt 0 3 17 59 20 18 21 17 15 22 IMF charges 0 1 4 1 1 1 1 1 1 1 Short-term debt 0 3 3 2 15 8 8 8 3 2 Net transfers on debt 20 92 135 73 257 -60 40 -37 12 160 Total debt service paid (TDS) 5 16 68 116 85 82 105 93 80 90 Long-term debt 1 9 43 106 62 62 85 67 62 69 IMF repurchases and charges 4 4 22 8 8 12 13 17 16 19 Short-term debt (interest only) 0 3 3 2 15 8 8 8 3 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 34 195 348 363 360 263 251 376 384 418 Net flow of long-term debt (ex. IMF) 23 89 142 109 86 52 57 50 67 97 Foreign direct investment (net) 0 2 6 45 63 9 4 100 126 102 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 12 104 201 209 211 202 190 226 191 219 Memo: technical coop. grants 8 77 93 121 125 108 108 120 91 123 official net resource flows 34 185 344 318 297 254 247 276 258 315 private net resource flows 0 10 5 45 63 9 4 100 126 102 NET TRANSFERS 34 192 327 298 329 236 223 352 353 387 Interest on long-term debt 0 3 17 59 20 18 21 17 15 22 Profit remittances on FDI 0 0 4 6 10 9 7 6 16 9 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 354 1,768 2,405 2,569 2,422 2,546 2,526 2,413 2,464 2,844 Exports of goods, serv. & inc. (XGS) .. 322 549 660 751 751 796 751 985 1,283 Worker remit. & comp. of employees 0 59 107 111 92 85 86 73 88 88 Imports of goods & services (MGS) .. 537 889 1,004 966 992 1,080 1,063 1,348 .. International reserves (RES) 1 26 198 432 415 403 350 381 349 594 Current account balance .. -124 -221 -261 -178 -208 -252 -255 -310 .. 4. DEBT INDICATORS EDT / XGS (%) .. 225.7 449.3 455.8 419.7 426.8 400.4 395.9 295.6 218.4 EDT / GNI (%) 70.3 41.1 102.6 117.0 130.1 125.9 126.3 123.3 118.2 98.6 TDS / XGS (%) .. 5.1 12.3 17.7 11.3 10.9 13.2 12.3 8.1 7.0 INT / XGS (%) .. 2.3 4.4 9.4 4.8 3.6 3.8 3.5 1.9 1.9 INT / GNI (%) 0.1 0.4 1.0 2.4 1.5 1.1 1.2 1.1 0.8 0.9 RES / EDT (%) 0.4 3.5 8.0 14.4 13.2 12.6 11.0 12.8 12.0 21.2 RES / MGS (months) .. 0.6 2.7 5.2 5.2 4.9 3.9 4.3 3.1 .. Short-term / EDT (%) 1.1 3.3 2.5 2.6 8.7 5.8 5.9 4.5 3.5 5.4 Concessional / EDT (%) 93.0 84.4 91.1 89.4 83.6 82.8 82.7 84.1 85.1 87.6 Multilateral / EDT (%) 2.4 23.6 36.3 48.6 46.1 49.0 50.4 50.7 52.1 62.2 341 MALI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 238 664 2,337 2,763 2,702 2,833 2,807 2,665 2,637 2,487 Public and publicly guaranteed 238 664 2,337 2,763 2,702 2,833 2,807 2,665 2,637 2,487 Official 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 1,012 974 725 Private 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 0 Private 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 0 Memo: 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 DISBURSEMENTS 23 95 167 156 128 96 121 100 114 143 Public and publicly guaranteed 23 95 167 156 128 96 121 100 114 143 Official creditors 23 85 167 156 128 96 121 100 114 143 Multilateral 1 35 115 122 115 91 112 85 104 127 Concessional 1 30 111 119 114 90 112 85 103 127 Bilateral 22 50 52 35 13 6 8 14 10 17 Concessional 22 45 52 35 13 6 8 14 10 17 Private creditors 0 10 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 0 5 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 1 19 43 84 75 48 57 49 70 91 PRINCIPAL REPAYMENTS 0 6 25 47 42 44 64 50 47 47 Public and publicly guaranteed 0 6 25 47 42 44 64 50 47 47 Official creditors 0 4 24 47 42 44 64 50 47 47 Multilateral 0 0 14 27 27 29 32 26 22 28 Concessional 0 0 13 23 24 25 29 23 20 26 Bilateral 0 3 11 20 15 15 31 24 24 18 Concessional 0 3 10 19 14 14 29 23 23 17 Private creditors 0 2 1 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 0 0 0 0 Other private 0 1 1 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 7 7 9 11 7 6 3 NET FLOWS ON DEBT 23 89 142 109 86 52 57 50 67 97 Public and publicly guaranteed 23 89 142 109 86 52 57 50 67 97 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 1 19 41 77 67 39 46 42 65 88 342 MALI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 3 17 59 20 18 21 17 15 22 Public and publicly guaranteed 0 3 17 59 20 18 21 17 15 22 Official creditors 0 2 17 59 20 18 21 17 15 22 Multilateral 0 1 10 14 14 12 14 12 11 16 Concessional 0 1 8 12 13 12 14 12 10 15 Bilateral 0 1 7 45 7 6 7 5 4 6 Concessional 0 1 6 44 5 4 5 4 4 6 Private creditors 0 1 1 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 0 0 0 0 Other private 0 0 1 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 3 6 7 7 7 7 7 7 NET TRANSFERS ON DEBT 22 86 124 50 65 34 36 32 52 75 Public and publicly guaranteed 22 86 124 50 65 34 36 32 52 75 Official 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 -6 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 1 18 38 71 61 32 39 36 58 81 DEBT SERVICE (LTDS) 1 9 43 106 62 62 85 67 62 69 Public and publicly guaranteed 1 9 43 106 62 62 85 67 62 69 Official creditors 1 6 41 106 62 62 85 67 62 69 Multilateral 0 2 23 41 41 41 47 38 33 44 Concessional 0 1 21 35 37 37 43 35 30 41 Bilateral 1 4 18 65 22 21 38 29 29 25 Concessional 1 4 15 63 19 18 34 27 27 22 Private 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 2 0 0 0 0 0 0 0 0 Other private 0 1 2 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 5 13 14 16 18 14 13 10 UNDISBURSED DEBT 54 368 637 694 603 582 593 702 839 824 Official creditors 50 361 637 694 603 582 593 702 839 824 Private creditors 4 7 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 231 613 2,248 2,688 2,636 2,654 2,639 2,502 2,477 2,455 Variable rate LDOD 0 0 6 2 2 1 1 0 0 0 Public sector LDOD 238 664 2,331 2,763 2,702 2,833 2,807 2,665 2,637 2,487 Private sector LDOD 0 0 6 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 14.2 17.0 Deutsche mark 2.8 0.9 0.2 0.2 0.1 0.1 0.1 0.1 .. .. French franc 16.9 21.3 36.7 20.3 18.8 18.4 16.9 14.2 .. .. Japanese yen 0.0 0.0 0.3 2.9 2.7 2.8 3.2 2.9 2.5 2.8 Pound sterling 37.5 11.5 2.6 1.9 1.9 1.8 1.8 1.8 1.7 2.0 Swiss franc 5.9 5.6 2.3 1.8 1.7 1.7 1.5 1.5 1.5 1.9 U.S.dollars 4.9 11.6 14.8 23.9 25.8 30.8 32.2 34.0 35.9 44.3 Multiple currency 0.4 6.4 15.3 19.1 18.5 19.0 18.8 18.6 17.7 20.7 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 31.5 42.7 27.8 30.0 30.6 25.2 25.5 27.0 26.4 11.2 343 MALI (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 11 14 0 115 0 0 0 350 Debt stock rescheduled .. .. 0 0 0 110 0 0 0 225 Principal rescheduled .. .. 7 14 0 1 0 0 0 124 Official .. .. 4 13 0 1 0 0 0 124 Private .. .. 3 1 0 0 0 0 0 0 Interest rescheduled .. .. 5 0 0 2 0 0 0 0 Official .. .. 4 0 0 2 0 0 0 0 Private .. .. 1 0 0 0 0 0 0 0 Debt forgiven .. .. 2 15 0 4 0 3 16 451 Memo: interest forgiven .. .. 2 2 0 0 0 1 2 44 Debt stock reduction .. .. 0 0 0 0 0 74 1 0 of which debt buyback .. .. 0 0 0 0 0 45 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.1 2.2 1.0 1.2 1.1 1.6 2.1 0.6 0.9 0.9 Maturity (years) 25.0 23.0 29.9 35.3 43.2 28.4 30.0 34.9 37.7 39.2 Grace period (years) 9.5 5.5 8.4 9.3 9.8 7.6 7.9 8.8 10.1 8.5 Grant element (%) 68.2 50.5 67.6 73.4 76.8 64.4 58.3 76.6 77.6 75.5 Official creditors Interest (%) 0.3 1.8 1.0 1.2 1.1 1.6 2.1 0.6 0.9 0.9 Maturity (years) 27.4 23.9 29.9 35.3 43.2 28.4 30.0 34.9 37.7 39.2 Grace period (years) 10.6 5.6 8.4 9.3 9.8 7.6 7.9 8.8 10.1 8.5 Grant element (%) 76.4 53.2 67.6 73.4 76.8 64.4 58.3 76.6 77.6 75.5 Private creditors Interest (%) 6.7 9.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.5 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.6 2.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 11.5 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 34 146 123 248 136 51 150 245 274 83 Official creditors 30 138 123 248 136 51 150 245 274 83 Private creditors 4 7 0 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 186 190 148 108 79 48 33 15 10 5 Principal 92 76 84 93 100 101 100 105 112 114 Interest 25 27 28 27 27 26 25 23 22 21 Official creditors Disbursements 186 190 148 108 79 48 33 15 10 5 Principal 92 76 84 93 100 101 100 105 112 114 Interest 25 27 28 27 27 26 25 23 22 21 Bilateral creditors Disbursements 27 31 22 14 9 5 3 3 1 0 Principal 45 28 30 35 37 37 33 35 38 37 Interest 7 7 7 7 7 7 6 6 5 5 Multilateral creditors Disbursements 159 159 127 94 70 43 30 12 9 4 Principal 47 48 54 58 63 64 67 70 74 77 Interest 18 20 20 20 20 19 19 18 17 16 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 344 MAURITANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 26 839 2,113 2,457 2,495 2,392 2,534 2,488 2,296 2,309 Long-term debt (LDOD) 26 713 1,806 2,169 2,079 2,050 2,149 2,143 1,949 1,984 Public and publicly guaranteed 26 713 1,806 2,169 2,079 2,050 2,149 2,143 1,949 1,984 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 61 70 107 113 110 107 98 105 113 Short-term debt 0 65 238 180 304 232 278 247 242 212 of which interest arrears on LDOD 0 10 63 81 86 84 130 109 91 99 Official creditors 0 9 57 81 86 84 130 109 91 99 Private creditors 0 1 7 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 44 142 176 194 362 405 331 258 310 Official creditors 0 24 121 176 194 362 405 331 258 310 Private creditors 0 21 21 0 0 0 0 0 0 0 Memo: export credits 0 0 230 154 204 126 85 86 65 66 TOTAL DEBT FLOWS Disbursements 4 155 148 175 108 55 57 123 98 133 Long-term debt 4 125 136 155 89 55 49 115 75 117 IMF purchases 0 30 12 21 20 0 8 8 23 16 Principal repayments 3 26 98 82 70 68 69 53 47 44 Long-term debt 3 17 83 72 62 62 60 47 42 39 IMF repurchases 0 9 16 10 7 7 9 6 5 6 Net flows on debt 1 139 102 103 158 -84 -11 60 64 51 of which short-term debt 0 10 53 9 119 -71 1 -10 13 -38 Interest payments (INT) 0 22 47 34 44 42 36 30 28 20 Long-term debt 0 13 35 30 35 33 28 20 23 17 IMF charges 0 2 3 1 1 1 1 1 1 1 Short-term debt 0 7 9 4 8 8 7 10 5 2 Net transfers on debt 1 118 55 68 114 -126 -47 29 36 31 Total debt service paid (TDS) 4 48 146 116 114 110 105 83 76 64 Long-term debt 4 30 118 102 97 94 88 67 65 56 IMF repurchases and charges 0 11 19 11 8 7 10 7 6 6 Short-term debt (interest only) 0 7 9 4 8 8 7 10 5 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5 197 138 261 180 125 155 202 199 321 Net flow of long-term debt (ex. IMF) 1 108 54 83 26 -6 -11 68 33 78 Foreign direct investment (net) 1 27 7 4 1 0 1 9 -7 12 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 61 78 174 152 131 165 125 172 231 Memo: 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 91 126 180 175 303 Interest on long-term debt 0 13 35 30 35 33 28 20 23 17 Profit remittances on FDI 0 23 1 0 2 1 1 1 1 1 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 196 672 1,076 1,060 1,045 962 943 908 984 956 Exports of goods, serv. & inc. (XGS) .. 275 488 517 463 397 .. .. .. .. Worker remit. & comp. of employees 0 6 14 4 3 2 2 2 2 2 Imports of goods & services (MGS) .. 493 570 623 557 505 .. .. .. .. International reserves (RES) 3 146 59 145 204 206 228 283 288 400 Current account balance .. -133 -10 91 48 77 .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 304.9 432.9 475.3 539.3 602.2 .. .. .. .. EDT / GNI (%) 13.4 125.0 196.4 231.7 238.9 248.6 268.6 274.2 233.4 241.6 TDS / 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 2.1 RES / EDT (%) 12.2 17.4 2.8 5.9 8.2 8.6 9.0 11.4 12.5 17.3 RES / 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 9.2 Concessional / EDT (%) 52.0 62.6 60.8 71.0 68.3 71.9 70.6 73.2 75.6 78.7 Multilateral / EDT (%) 21.4 14.8 31.0 38.7 37.7 41.6 38.4 40.0 45.4 49.2 345 MAURITANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 26 713 1,806 2,169 2,079 2,050 2,149 2,143 1,949 1,984 Public and publicly guaranteed 26 713 1,806 2,169 2,079 2,050 2,149 2,143 1,949 1,984 Official 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 8 420 831 988 928 886 951 943 794 760 Private 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 0 Private 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 0 Memo: IBRD 0 0 54 8 6 4 2 0 0 0 IDA 5 38 210 359 372 408 415 449 475 547 DISBURSEMENTS 4 125 136 155 89 55 49 115 75 117 Public and publicly guaranteed 4 125 136 155 89 55 49 115 75 117 Official creditors 4 112 136 130 89 55 49 115 75 113 Multilateral 2 27 112 98 81 50 46 106 73 99 Concessional 2 12 65 82 74 47 43 98 72 93 Bilateral 2 85 24 33 8 5 3 9 2 14 Concessional 2 84 24 32 6 5 3 9 2 14 Private creditors 1 13 0 25 0 0 0 0 0 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 0 4 Other private 1 13 0 25 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 1 4 39 36 34 24 19 57 48 41 PRINCIPAL REPAYMENTS 3 17 83 72 62 62 60 47 42 39 Public and publicly guaranteed 3 17 83 72 62 62 60 47 42 39 Official creditors 1 4 81 72 61 60 58 45 39 39 Multilateral 0 2 66 56 39 38 44 34 24 26 Concessional 0 1 15 20 19 22 24 21 14 13 Bilateral 1 2 15 16 22 22 14 11 15 13 Concessional 0 2 11 16 20 19 12 8 13 13 Private creditors 2 13 1 0 2 2 2 2 3 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 9 1 0 2 2 2 2 3 0 Private 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 0 Memo: IBRD 0 0 11 2 2 2 2 2 0 0 IDA 0 0 1 2 2 3 3 1 2 1 NET FLOWS ON DEBT 1 108 54 83 26 -6 -11 68 33 78 Public and publicly guaranteed 1 108 54 83 26 -6 -11 68 33 78 Official 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 1 Private 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 0 Private 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 0 Memo: IBRD 0 0 -11 -2 -2 -2 -2 -2 0 0 IDA 1 4 38 34 32 21 16 57 45 41 346 MAURITANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 13 35 30 35 33 28 20 23 17 Public and publicly guaranteed 0 13 35 30 35 33 28 20 23 17 Official creditors 0 9 34 30 34 31 26 19 21 17 Multilateral 0 3 20 21 19 18 19 14 12 13 Concessional 0 2 7 11 11 10 11 10 9 8 Bilateral 0 6 14 9 14 13 7 5 9 4 Concessional 0 6 6 8 9 8 4 3 6 4 Private creditors 0 4 1 0 2 2 2 2 1 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 0 0 0 0 0 0 0 Other private 0 2 1 0 2 2 2 2 1 0 Private 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 0 Memo: IBRD 0 0 4 1 0 0 0 0 0 0 IDA 0 0 1 3 3 3 3 2 3 3 NET TRANSFERS ON DEBT 1 96 19 53 -9 -39 -39 48 11 61 Public and publicly guaranteed 1 96 19 53 -9 -39 -39 48 11 61 Official 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 -3 Private 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 0 Private 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 0 Memo: IBRD 0 0 -16 -3 -2 -2 -2 -2 0 0 IDA 1 4 37 32 29 18 13 55 43 38 DEBT SERVICE (LTDS) 4 30 118 102 97 94 88 67 65 56 Public and publicly guaranteed 4 30 118 102 97 94 88 67 65 56 Official creditors 1 13 116 102 94 90 84 63 60 56 Multilateral 0 4 87 77 58 56 63 48 36 39 Concessional 0 3 22 31 29 32 35 30 23 21 Bilateral 1 8 29 25 36 34 21 16 24 17 Concessional 1 8 17 24 29 27 16 11 18 17 Private creditors 2 17 2 0 3 4 4 4 4 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 7 0 0 0 0 0 0 0 0 Other private 2 10 2 0 3 4 4 4 4 0 Private 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 0 Memo: IBRD 0 0 16 3 2 2 2 2 0 0 IDA 0 1 2 4 5 6 6 3 5 4 UNDISBURSED DEBT 16 682 621 402 352 376 426 358 572 489 Official creditors 11 653 616 402 352 376 426 358 563 483 Private creditors 5 29 5 0 0 0 0 0 10 6 Memorandum items Concessional LDOD 14 526 1,284 1,743 1,705 1,721 1,789 1,821 1,734 1,818 Variable rate LDOD 0 17 144 151 142 97 167 156 96 73 Public sector LDOD 26 713 1,806 2,169 2,079 2,050 2,149 2,143 1,949 1,984 Private sector LDOD 0 0 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 14.2 9.8 Deutsche mark 0.0 3.1 0.6 0.5 0.5 0.5 0.4 0.4 .. .. French franc 49.2 7.2 6.0 9.4 8.7 9.4 7.6 6.6 .. .. Japanese yen 0.0 0.0 1.3 3.4 3.4 3.7 3.9 3.4 3.3 3.5 Pound sterling 0.0 0.2 0.6 0.6 0.6 0.5 0.5 0.4 0.4 0.0 Swiss franc 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 23.7 43.1 34.3 35.7 37.4 35.7 38.3 38.7 37.6 39.0 Multiple currency 2.7 3.0 4.2 1.6 1.5 1.4 1.2 1.0 1.0 0.9 Special drawing rights 0.0 0.0 2.1 2.4 2.4 2.5 2.4 2.2 2.4 2.6 All other currencies 24.4 43.2 50.9 46.3 45.7 46.2 45.8 47.4 41.0 44.3 347 MAURITANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 11 69 12 0 133 131 74 109 Debt stock rescheduled .. .. 0 17 0 0 0 3 68 95 Principal rescheduled .. .. 7 29 5 1 0 92 1 1 Official .. .. 5 29 5 1 0 92 1 1 Private .. .. 3 0 0 0 0 0 0 0 Interest rescheduled .. .. 4 13 3 0 0 18 1 1 Official .. .. 4 13 3 0 0 18 1 1 Private .. .. 1 0 0 0 0 0 0 0 Debt forgiven .. .. 70 1 9 0 0 31 19 22 Memo: interest forgiven .. .. 1 1 2 0 0 17 7 5 Debt stock reduction .. .. 0 0 0 0 0 0 0 153 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.0 3.6 3.1 3.6 2.3 1.8 1.0 1.6 1.7 1.8 Maturity (years) 10.6 22.3 31.2 27.6 30.0 25.4 39.7 33.9 34.2 26.5 Grace period (years) 3.0 9.1 8.5 6.3 6.4 6.5 9.8 8.5 9.3 7.3 Grant element (%) 18.9 47.5 56.8 49.8 59.2 57.4 77.6 68.7 69.1 61.9 Official creditors Interest (%) 3.2 2.7 3.1 2.3 2.3 1.8 1.0 1.6 1.5 1.8 Maturity (years) 20.9 24.5 31.2 32.0 30.0 25.4 39.7 33.9 35.0 26.5 Grace period (years) 5.4 10.4 8.5 7.9 6.4 6.5 9.8 8.5 9.6 7.3 Grant element (%) 44.4 55.2 56.8 61.3 59.2 57.4 77.6 68.7 70.8 61.9 Private creditors Interest (%) 6.7 7.7 0.0 8.8 0.0 0.0 0.0 0.0 5.8 0.0 Maturity (years) 8.2 11.4 0.0 10.0 0.0 0.0 0.0 0.0 9.8 0.0 Grace period (years) 2.4 2.9 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.0 Grant element (%) 13.2 10.0 0.0 3.9 0.0 0.0 0.0 0.0 16.6 0.0 Memorandum items Commitments 7 211 216 122 113 60 115 71 315 45 Official creditors 1 175 216 98 113 60 115 71 305 45 Private creditors 6 36 0 25 0 0 0 0 10 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 107 100 78 58 42 28 17 6 5 2 Principal 71 67 69 70 64 65 69 70 72 71 Interest 29 28 27 26 25 24 22 21 19 18 Official creditors Disbursements 103 99 78 58 42 28 17 6 5 2 Principal 70 66 68 69 63 64 67 69 71 71 Interest 28 28 27 26 24 23 22 21 19 18 Bilateral creditors Disbursements 11 8 5 4 2 1 1 1 1 0 Principal 34 29 29 28 24 24 26 26 25 25 Interest 12 11 11 10 10 9 9 8 7 7 Multilateral creditors Disbursements 92 91 72 55 40 26 15 6 4 2 Principal 36 37 39 40 39 40 41 43 46 46 Interest 16 16 16 15 15 14 13 13 12 11 Private creditors Disbursements 4 1 1 0 0 0 0 0 0 0 Principal 1 1 1 1 1 1 1 1 1 0 Interest 1 1 1 0 0 0 0 0 0 0 Commercial banks Disbursements 4 1 1 0 0 0 0 0 0 0 Principal 1 1 1 1 1 1 1 1 1 0 Interest 1 1 1 0 0 0 0 0 0 0 Other private 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 0 348 MAURITIUS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 32 467 984 1,818 1,837 1,856 1,847 1,720 1,723 1,803 Long-term debt (LDOD) 32 318 910 1,399 1,341 1,283 1,274 953 851 911 Public and publicly guaranteed 32 294 762 1,153 1,152 1,126 1,138 834 764 832 Private nonguaranteed 0 24 147 246 189 157 136 118 87 79 Use of IMF credit 0 102 22 0 0 0 0 0 0 0 Short-term debt 0 47 52 419 496 573 573 767 872 892 of 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 0 Memo: 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 0 Memo: export credits 0 0 201 216 286 92 77 34 18 13 TOTAL DEBT FLOWS Disbursements 2 143 161 140 193 60 145 132 71 172 Long-term debt 2 97 161 140 193 60 145 132 71 172 IMF purchases 0 46 0 0 0 0 0 0 0 0 Principal repayments 5 19 103 108 136 153 107 402 133 186 Long-term debt 1 19 60 108 136 153 107 402 133 186 IMF repurchases 4 0 44 0 0 0 0 0 0 0 Net flows on debt -3 104 76 110 134 -16 38 -75 43 6 of which short-term debt 0 -20 18 78 77 77 0 194 106 20 Interest payments (INT) 2 34 52 90 87 89 84 84 69 65 Long-term debt 2 23 43 71 63 62 56 52 38 35 IMF charges 0 3 5 0 0 0 0 0 0 0 Short-term debt 0 8 5 19 23 27 27 32 31 30 Net transfers on debt -5 70 23 21 47 -105 -46 -159 -26 -59 Total debt service paid (TDS) 7 52 156 198 223 242 191 485 202 251 Long-term debt 3 41 103 179 199 215 163 453 170 221 IMF repurchases and charges 4 3 48 0 0 0 0 0 0 0 Short-term debt (interest only) 0 8 5 19 23 27 27 32 31 30 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5 93 167 119 158 -63 38 -112 -87 32 Net flow of long-term debt (ex. IMF) 1 79 101 32 57 -93 38 -269 -62 -14 Foreign direct investment (net) 2 1 41 37 55 12 49 266 -28 28 Portfolio equity flows 0 0 0 37 31 5 -61 -118 -9 0 Grants (excluding technical coop.) 3 13 25 13 15 13 12 9 11 19 Memo: 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 -11 Interest on long-term debt 2 23 43 71 63 62 56 52 38 35 Profit remittances on FDI 0 1 23 10 8 13 4 8 5 9 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 1,130 2,363 4,129 4,350 4,119 4,152 4,389 4,538 4,537 Exports of goods, serv. & inc. (XGS) .. 579 1,778 2,802 2,541 2,634 2,668 2,671 2,925 3,040 Worker remit. & comp. of employees 0 0 82 160 168 180 178 177 215 215 Imports of goods & services (MGS) .. 718 1,994 2,884 2,757 2,726 2,896 2,772 2,717 2,870 International reserves (RES) 46 113 761 919 711 577 749 914 853 1,249 Current 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 59.3 EDT / GNI (%) .. 41.3 41.6 44.0 42.2 45.1 44.5 39.2 38.0 39.7 TDS / XGS (%) .. 9.0 8.8 7.1 8.8 9.2 7.1 18.2 6.9 8.2 INT / XGS (%) .. 5.8 2.9 3.2 3.4 3.4 3.1 3.1 2.4 2.1 INT / GNI (%) .. 3.0 2.2 2.2 2.0 2.2 2.0 1.9 1.5 1.4 RES / EDT (%) 145.5 24.1 77.4 50.6 38.7 31.1 40.5 53.2 49.5 69.2 RES / MGS (months) .. 1.9 4.6 3.8 3.1 2.5 3.1 4.0 3.8 5.2 Short-term / EDT (%) 0.0 10.1 5.3 23.1 27.0 30.9 31.0 44.6 50.6 49.5 Concessional / EDT (%) 17.4 13.8 35.7 22.2 18.8 19.1 17.1 17.4 15.9 16.3 Multilateral / EDT (%) 17.8 16.6 31.6 13.9 13.3 14.0 13.5 12.9 11.1 15.3 349 MAURITIUS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 32 318 910 1,399 1,341 1,283 1,274 953 851 911 Public and publicly guaranteed 32 294 762 1,153 1,152 1,126 1,138 834 764 832 Official 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 39 288 338 285 294 256 236 218 231 Private 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 52 Private 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 79 Memo: IBRD 6 35 176 124 111 112 107 86 71 94 IDA 0 20 19 16 15 15 14 13 13 12 DISBURSEMENTS 2 97 161 140 193 60 145 132 71 172 Public and publicly guaranteed 2 93 104 122 182 56 144 123 62 161 Official creditors 2 36 96 49 75 49 48 47 26 129 Multilateral 0 18 23 33 42 32 23 22 8 104 Concessional 0 3 7 3 3 1 9 9 3 7 Bilateral 2 18 74 17 33 18 24 26 18 25 Concessional 1 13 65 10 27 12 10 16 18 10 Private creditors 0 56 8 72 107 7 96 76 36 32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 56 0 29 87 7 96 76 0 28 Other private 0 0 7 43 20 0 0 0 36 5 Private nonguaranteed 0 4 57 18 11 4 1 9 8 11 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 4 57 18 11 4 1 9 8 11 Memo: IBRD 0 7 6 14 17 13 5 4 4 41 IDA 0 1 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 1 19 60 108 136 153 107 402 133 186 Public and publicly guaranteed 1 15 44 73 112 117 94 386 102 158 Official creditors 1 5 39 58 78 52 53 56 60 72 Multilateral 0 2 22 30 31 29 30 34 25 35 Concessional 0 0 3 3 3 4 4 4 4 4 Bilateral 0 3 17 28 48 24 22 21 35 37 Concessional 0 1 12 24 44 19 19 19 24 26 Private creditors 1 9 4 15 34 65 42 330 41 86 Bonds 0 0 0 0 0 0 0 150 0 0 Commercial banks 1 8 4 11 19 57 33 146 39 83 Other private 0 1 0 4 15 8 8 34 2 3 Private nonguaranteed 0 4 16 35 24 36 13 16 31 28 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 4 16 35 24 36 13 16 31 28 Memo: IBRD 0 2 16 20 21 19 18 18 12 22 IDA 0 0 0 1 1 1 1 1 1 1 NET FLOWS ON DEBT 1 79 101 32 57 -93 38 -269 -62 -14 Public and publicly guaranteed 1 78 60 49 70 -61 49 -263 -40 3 Official 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 -16 Private 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 2 Private 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 -17 Memo: IBRD 0 5 -10 -7 -4 -6 -12 -14 -8 20 IDA 0 1 0 -1 -1 -1 -1 -1 -1 -1 350 MAURITIUS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 2 23 43 71 63 62 56 52 38 35 Public and publicly guaranteed 2 20 37 66 61 61 55 51 37 34 Official creditors 1 7 33 33 29 28 26 23 21 20 Multilateral 0 4 19 15 13 12 11 9 8 7 Concessional 0 0 1 1 1 1 1 1 1 1 Bilateral 1 3 14 18 16 16 14 14 13 13 Concessional 0 1 9 16 14 14 13 11 10 10 Private creditors 1 13 4 33 32 34 30 29 16 14 Bonds 1 0 0 10 10 10 9 5 0 0 Commercial banks 0 13 3 21 20 21 18 22 15 12 Other private 0 0 1 1 2 3 2 2 0 2 Private nonguaranteed 0 2 6 5 2 1 1 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 2 6 5 2 1 1 1 1 1 Memo: IBRD 0 3 14 9 8 7 6 5 4 3 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -1 56 58 -39 -6 -155 -18 -321 -100 -49 Public and publicly guaranteed -1 58 23 -17 9 -122 -6 -314 -76 -31 Official 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 -27 Private 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 0 Private 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 -18 Memo: IBRD -1 2 -24 -16 -12 -13 -19 -19 -12 17 IDA 0 1 0 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 3 41 103 179 199 215 163 453 170 221 Public and publicly guaranteed 3 35 81 139 173 178 150 437 138 192 Official creditors 2 12 72 91 107 80 79 78 81 93 Multilateral 1 6 42 45 44 40 42 43 33 42 Concessional 0 0 3 4 4 4 5 5 5 5 Bilateral 1 6 31 47 64 39 37 35 48 51 Concessional 0 2 21 40 58 33 32 30 34 37 Private creditors 1 22 8 47 66 98 71 359 57 100 Bonds 1 0 0 10 10 10 9 155 0 0 Commercial banks 1 21 7 32 39 77 52 168 55 95 Other private 0 1 1 5 17 10 11 36 3 5 Private nonguaranteed 0 6 22 40 26 37 14 16 32 28 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 6 22 40 26 37 14 16 32 28 Memo: IBRD 1 4 30 30 29 25 24 23 16 24 IDA 0 0 0 1 1 1 1 1 1 1 UNDISBURSED DEBT 15 175 245 383 333 310 260 217 362 417 Official creditors 15 171 232 355 282 264 218 181 294 390 Private creditors 0 3 13 28 51 46 42 36 68 27 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 36.8 53.4 Deutsche mark 0.0 0.0 6.3 2.1 1.3 1.2 0.9 0.9 .. .. French franc 0.0 14.2 23.7 20.5 18.5 19.5 16.1 20.0 .. .. Japanese yen 0.0 0.0 1.0 4.5 4.3 4.9 5.1 2.6 2.4 2.3 Pound sterling 82.2 18.4 8.7 1.6 1.5 1.4 1.3 1.7 1.7 1.5 Swiss franc 0.0 0.0 0.5 0.1 0.1 0.2 0.3 0.3 0.3 0.3 U.S.dollars 0.0 46.0 14.4 44.2 51.1 55.3 53.7 46.3 43.5 23.4 Multiple currency 17.8 13.3 25.1 12.7 11.7 5.3 5.0 6.2 6.1 4.5 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 All other currencies 0.0 8.1 20.3 14.3 11.5 12.1 17.6 22.0 9.1 14.4 351 MAURITIUS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 10.6 6.0 4.2 6.7 3.2 4.5 6.4 3.9 2.8 Maturity (years) 24.2 13.6 17.9 16.3 11.0 22.5 13.8 6.1 13.6 11.4 Grace period (years) 1.7 4.2 6.3 3.8 1.0 6.6 1.9 2.7 3.4 3.0 Grant element (%) 64.6 7.3 26.7 33.9 12.9 49.7 26.4 13.8 32.2 32.1 Official creditors Interest (%) 0.0 5.2 6.0 4.2 5.8 3.0 4.5 3.9 3.7 2.7 Maturity (years) 24.2 19.6 17.9 16.3 16.9 22.6 17.3 15.7 14.7 11.7 Grace period (years) 1.7 5.4 6.3 3.8 4.0 6.8 4.1 4.7 4.1 3.3 Grant element (%) 64.6 30.6 26.7 33.9 23.2 51.2 33.4 36.5 35.3 33.5 Private creditors Interest (%) 0.0 18.4 0.0 0.0 6.9 6.8 4.5 7.5 4.2 3.8 Maturity (years) 0.0 5.0 0.0 0.0 9.8 21.8 11.9 1.9 11.1 8.8 Grace period (years) 0.0 2.5 0.0 0.0 0.5 2.8 0.6 1.9 1.8 0.5 Grant element (%) 0.0 -26.5 0.0 0.0 10.8 20.8 22.4 3.7 24.8 21.4 Memorandum items Commitments 14 111 137 37 156 50 145 101 233 239 Official creditors 14 66 137 37 26 47 53 31 165 211 Private creditors 0 45 0 0 130 3 92 70 68 28 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 126 108 72 42 28 19 11 6 4 2 Principal 140 156 143 142 130 117 103 85 68 52 Interest 37 34 30 26 21 17 14 11 8 6 Official creditors Disbursements 108 101 69 42 28 19 11 6 4 2 Principal 78 97 97 97 87 90 80 67 54 48 Interest 24 23 21 19 17 14 12 10 8 6 Bilateral creditors Disbursements 42 45 31 21 14 9 6 5 4 2 Principal 44 56 58 57 43 42 41 39 29 25 Interest 15 14 13 11 9 7 6 5 3 2 Multilateral creditors Disbursements 66 56 38 21 13 10 5 1 0 0 Principal 34 41 39 40 44 48 39 28 25 23 Interest 8 9 9 8 8 7 6 5 4 4 Private creditors Disbursements 17 7 3 0 0 0 0 0 0 0 Principal 62 60 47 44 43 26 23 18 14 4 Interest 14 11 9 7 5 3 2 1 1 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 34 33 25 26 27 12 12 10 6 1 Interest 9 8 6 4 3 2 1 1 0 0 Other private Disbursements 17 7 3 0 0 0 0 0 0 0 Principal 28 26 21 18 16 14 11 8 8 3 Interest 5 4 3 2 2 1 1 1 0 0 352 MEXICO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 6,969 57,378 104,442 156,255 147,632 158,974 166,463 150,313 145,674 141,264 Long-term debt (LDOD) 5,967 41,215 81,809 113,138 110,684 124,273 137,928 131,381 131,118 131,364 Public and publicly guaranteed 3,197 33,915 75,974 92,798 83,302 87,045 87,911 81,488 77,027 76,327 Private nonguaranteed 2,770 7,300 5,835 20,340 27,382 37,228 50,017 49,893 54,091 55,038 Use of IMF credit 0 0 6,551 13,279 9,088 8,380 4,473 0 0 0 Short-term debt 1,002 16,163 16,082 29,839 27,860 26,321 24,062 18,932 14,556 9,900 of 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 0 Memo: 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 0 Memo: 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 28,640 Long-term debt 1,375 11,581 12,045 31,440 27,753 28,558 31,028 32,293 36,512 28,640 IMF purchases 0 0 2,184 0 0 0 1,414 1,194 0 0 Principal repayments 1,017 4,894 4,012 28,859 30,662 18,050 23,331 44,782 35,338 32,651 Long-term debt 1,017 4,760 2,821 26,807 27,223 16,986 18,235 39,289 35,338 32,651 IMF repurchases 0 134 1,191 2,052 3,439 1,063 5,096 5,493 0 0 Net flows on debt 358 14,825 17,637 -4,881 -4,887 8,969 6,852 -16,426 -3,201 -8,668 of which short-term debt 0 8,139 7,420 -7,462 -1,978 -1,539 -2,259 -5,130 -4,376 -4,656 Interest payments (INT) 283 6,068 7,301 11,559 11,080 11,087 11,978 14,028 12,598 10,884 Long-term debt 283 4,580 5,797 7,945 8,366 8,889 9,778 11,983 11,761 10,640 IMF charges 0 4 522 651 482 423 276 153 0 0 Short-term debt 0 1,484 982 2,964 2,231 1,774 1,924 1,892 837 245 Net transfers on debt 75 8,757 10,336 -16,440 -15,967 -2,118 -5,126 -30,453 -15,800 -19,552 Total debt service paid (TDS) 1,301 10,962 11,313 40,418 41,742 29,137 35,310 58,809 47,936 43,535 Long-term debt 1,301 9,340 8,618 34,752 35,589 25,876 28,014 51,272 47,099 43,291 IMF repurchases and charges 0 138 1,712 2,703 3,922 1,487 5,372 5,646 0 0 Short-term debt (interest only) 0 1,484 982 2,964 2,231 1,774 1,924 1,892 837 245 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 689 8,925 13,822 16,651 16,613 22,865 29,648 9,549 27,548 10,549 Net flow of long-term debt (ex. IMF) 358 6,821 9,224 4,633 530 11,571 12,793 -6,996 1,174 -4,011 Foreign direct investment (net) 323 2,090 2,549 9,186 12,831 11,897 13,055 16,075 26,204 14,622 Portfolio equity flows 0 0 1,995 2,801 3,215 -665 3,769 447 150 -104 Grants (excluding technical coop.) 8 14 54 30 37 61 31 23 20 42 Memo: 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 -3,557 Interest on long-term debt 283 4,580 5,797 7,945 8,366 8,889 9,778 11,983 11,761 10,640 Profit remittances on FDI 0 1,366 2,304 4,022 3,777 5,251 3,522 5,894 5,319 3,466 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 34,919 187,919 254,084 318,398 388,079 407,744 467,560 565,924 609,998 624,895 Exports of goods, serv. & inc. (XGS) .. 24,685 54,570 114,982 130,909 139,659 158,510 192,831 185,137 187,367 Worker remit. & comp. of employees 0 1,039 3,098 4,950 5,546 6,503 6,649 7,596 9,919 11,029 Imports of goods & services (MGS) .. 35,243 63,504 117,792 138,960 156,117 172,913 211,414 203,648 201,825 International reserves (RES) 756 4,175 10,217 19,527 28,852 31,863 31,828 35,577 44,805 50,671 Current account balance .. -10,422 -7,451 -2,500 -7,666 -16,073 -13,999 -18,162 -18,068 -14,004 4. DEBT INDICATORS EDT / XGS (%) .. 232.4 191.4 135.9 112.8 113.8 105.0 78.0 78.7 75.4 EDT / GNI (%) 20.0 30.5 41.1 49.1 38.0 39.0 35.6 26.6 23.9 22.6 TDS / XGS (%) .. 44.4 20.7 35.2 31.9 20.9 22.3 30.5 25.9 23.2 INT / XGS (%) .. 24.6 13.4 10.1 8.5 7.9 7.6 7.3 6.8 5.8 INT / GNI (%) 0.8 3.2 2.9 3.6 2.9 2.7 2.6 2.5 2.1 1.7 RES / EDT (%) 10.8 7.3 9.8 12.5 19.5 20.0 19.1 23.7 30.8 35.9 RES / MGS (months) .. 1.4 1.9 2.0 2.5 2.4 2.2 2.0 2.6 3.0 Short-term / EDT (%) 14.4 28.2 15.4 19.1 18.9 16.6 14.5 12.6 10.0 7.0 Concessional / EDT (%) 2.8 0.5 0.8 1.0 0.9 0.9 0.8 0.8 0.8 0.9 Multilateral / EDT (%) 10.7 5.6 13.7 11.4 11.1 10.8 10.0 11.5 11.5 12.4 353 MEXICO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5,967 41,215 81,809 113,138 110,684 124,273 137,928 131,381 131,118 131,364 Public and publicly guaranteed 3,197 33,915 75,974 92,798 83,302 87,045 87,911 81,488 77,027 76,327 Official 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 1,299 Private 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 1,530 Private 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 35,958 Memo: 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 28,640 Public and publicly guaranteed 772 9,131 9,985 22,939 15,338 13,221 9,728 11,187 14,201 10,146 Official 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 10 231 Private 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 1,004 840 356 359 515 171 174 142 Private 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 15,991 Memo: 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 32,651 Public and publicly guaranteed 476 4,010 2,625 20,297 21,826 11,496 9,724 16,665 17,482 12,587 Official 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 95 118 Private 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 1,029 554 828 990 349 Private 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 15,983 Memo: 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 -4,011 Public and publicly guaranteed 297 5,121 7,360 2,642 -6,489 1,725 4 -5,477 -3,280 -2,441 Official 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 -85 113 Private 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 -207 Private 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 8 Memo: IBRD 76 333 2,524 -359 -316 26 -484 418 -561 -86 IDA 0 0 0 0 0 0 0 0 0 0 354 MEXICO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 283 4,580 5,797 7,945 8,366 8,889 9,778 11,983 11,761 10,640 Public and publicly guaranteed 216 3,880 5,215 6,348 6,211 5,893 6,137 7,763 7,309 6,401 Official 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 35 Private 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 70 Private 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 2,698 Memo: 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 -14,651 Public and publicly guaranteed 81 1,241 2,145 -3,705 -12,700 -4,168 -6,133 -13,240 -10,590 -8,843 Official 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 77 Private 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 -277 Private 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 -2,690 Memo: 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 43,291 Public and publicly guaranteed 692 7,890 7,840 26,644 28,037 17,388 15,861 24,428 24,791 18,988 Official 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 9 145 132 122 139 151 134 154 Private 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 1,568 420 Private 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 18,681 Memo: 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 12,866 Official creditors 438 2,976 5,140 6,087 5,921 5,699 7,333 6,556 6,130 6,717 Private creditors 118 1,841 2,974 5,873 5,552 11,112 8,506 7,248 6,838 6,148 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.1 1.2 Deutsche mark 11.2 4.3 3.7 3.5 4.8 4.8 3.7 1.6 .. .. French franc 7.7 1.2 3.8 2.5 2.3 2.2 1.7 0.8 .. .. Japanese yen 0.5 1.4 6.3 8.5 8.7 8.3 8.5 7.6 6.5 4.9 Pound sterling 1.1 0.5 1.4 0.7 1.3 1.0 0.8 0.2 0.2 0.2 Swiss franc 3.4 2.0 0.6 0.3 0.3 0.3 0.2 0.0 0.2 0.2 U.S.dollars 51.2 78.7 64.3 66.9 64.2 75.5 77.4 85.0 88.1 89.7 Multiple currency 21.9 9.9 18.6 16.7 16.0 4.6 4.2 3.8 3.6 3.3 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 2.9 2.0 1.2 0.9 2.4 3.4 3.4 1.0 0.4 0.4 355 MEXICO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 23.0 Official 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 34.6 Private 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 17.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 8,419 1,765 1,038 700 418 269 149 57 33 18 Principal 22,912 20,763 13,116 12,676 11,196 12,264 7,046 5,552 7,311 3,217 Interest 10,083 8,561 7,163 6,202 5,325 4,518 3,555 3,057 2,952 2,171 Official creditors Disbursements 2,402 1,656 1,022 698 417 267 148 56 33 18 Principal 2,849 2,622 2,513 2,596 2,141 1,938 2,175 1,437 1,748 1,378 Interest 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 984 917 834 729 613 516 436 348 285 227 Private creditors Disbursements 6,016 110 15 2 2 1 1 1 0 0 Principal 20,062 18,141 10,603 10,080 9,055 10,326 4,870 4,115 5,563 1,839 Interest 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 1,918 356 MOLDOVA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 848 1,082 1,071 1,025 1,247 1,235 1,349 Long-term debt (LDOD) .. .. .. 573 845 873 834 1,065 1,068 1,126 Public and publicly guaranteed .. .. .. 554 801 801 723 868 800 846 Private nonguaranteed .. .. .. 19 44 72 111 197 267 280 Use of IMF credit .. .. .. 248 233 177 175 154 146 152 Short-term debt .. .. .. 27 4 21 16 28 22 71 of 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 37 Memo: 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 48 Memo: export credits .. .. .. 50 54 6 17 14 17 20 TOTAL DEBT FLOWS Disbursements .. .. .. 201 368 105 246 188 106 139 Long-term debt .. .. .. 169 347 105 177 176 94 127 IMF purchases .. .. .. 33 21 0 68 12 12 12 Principal repayments .. .. .. 48 82 147 153 82 113 183 Long-term debt .. .. .. 41 62 83 87 58 98 165 IMF repurchases .. .. .. 7 20 64 65 25 14 18 Net flows on debt .. .. .. 178 263 -39 87 110 -7 -16 of which short-term debt .. .. .. 25 -22 3 -6 4 0 28 Interest payments (INT) .. .. .. 36 51 55 58 55 55 46 Long-term debt .. .. .. 24 40 45 50 47 49 42 IMF charges .. .. .. 10 11 10 8 8 6 4 Short-term debt .. .. .. 1 0 0 0 0 0 0 Net transfers on debt .. .. .. 142 212 -94 29 55 -62 -62 Total debt service paid (TDS) .. .. .. 84 133 202 211 137 168 228 Long-term debt .. .. .. 65 102 128 138 104 147 207 IMF repurchases and charges .. .. .. 18 31 74 73 33 21 21 Short-term debt (interest only) .. .. .. 1 0 0 0 0 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 152 379 123 156 287 153 105 Net flow of long-term debt (ex. IMF) .. .. .. 128 285 22 90 118 -5 -38 Foreign direct investment (net) .. .. .. 24 79 76 38 129 100 111 Portfolio equity flows .. .. .. 1 4 7 6 3 4 2 Grants (excluding technical coop.) .. .. .. 0 12 20 23 37 54 31 Memo: 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 NET TRANSFERS .. .. .. 127 337 72 94 230 75 33 Interest on long-term debt .. .. .. 24 40 45 50 47 49 42 Profit remittances on FDI .. .. .. 1 2 7 12 11 29 31 Memo: official net transfers .. .. .. 15 44 33 90 51 24 12 private net transfers .. .. .. 112 294 39 4 179 52 20 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 1,750 1,976 1,735 1,197 1,352 1,580 1,774 Exports of goods, serv. & inc. (XGS) .. .. .. 1,031 1,191 934 731 815 971 1,147 Worker remit. & comp. of employees .. .. .. 87 114 122 110 159 224 269 Imports of goods & services (MGS) .. .. .. 1,293 1,519 1,333 885 1,073 1,223 1,404 International reserves (RES) .. .. .. 312 366 144 186 222 229 269 Current account balance .. .. .. -192 -275 -335 -68 -97 -95 -103 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 82.2 90.9 114.7 140.3 153.0 127.2 117.6 EDT / GNI (%) .. .. .. 48.4 54.8 61.7 85.6 92.2 78.2 76.0 TDS / XGS (%) .. .. .. 8.2 11.2 21.7 28.8 16.8 17.3 19.9 INT / XGS (%) .. .. .. 3.5 4.3 5.9 7.9 6.8 5.7 4.0 INT / GNI (%) .. .. .. 2.0 2.6 3.2 4.8 4.1 3.5 2.6 RES / EDT (%) .. .. .. 36.8 33.8 13.4 18.1 17.8 18.5 19.9 RES / MGS (months) .. .. .. 2.9 2.9 1.3 2.5 2.5 2.2 2.3 Short-term / EDT (%) .. .. .. 3.2 0.4 2.0 1.6 2.2 1.7 5.3 Concessional / EDT (%) .. .. .. 12.9 13.0 14.1 18.3 16.5 16.7 19.9 Multilateral / EDT (%) .. .. .. 29.8 26.7 31.0 38.6 33.5 32.6 32.2 357 MOLDOVA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 573 845 873 834 1,065 1,068 1,126 Public and publicly guaranteed .. .. .. 554 801 801 723 868 800 846 Official 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 93 121 Private 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 20 232 228 228 Private nonguaranteed .. .. .. 19 44 72 111 197 267 280 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 19 44 72 111 197 267 280 Memo: IBRD .. .. .. 142 135 169 199 191 181 186 IDA .. .. .. 0 35 38 77 103 113 145 DISBURSEMENTS .. .. .. 169 347 105 177 176 94 127 Public and publicly guaranteed .. .. .. 156 307 62 111 66 30 36 Official creditors .. .. .. 75 68 60 102 64 30 36 Multilateral .. .. .. 52 59 46 86 62 30 35 Concessional .. .. .. 0 35 2 39 30 15 24 Bilateral .. .. .. 23 8 14 16 1 0 1 Concessional .. .. .. 12 0 10 0 0 0 1 Private creditors .. .. .. 81 239 2 8 2 0 0 Bonds .. .. .. 0 75 0 0 0 0 0 Commercial banks .. .. .. 81 22 2 8 0 0 0 Other private .. .. .. 0 143 0 0 2 0 0 Private nonguaranteed .. .. .. 13 40 43 67 110 64 91 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 13 40 43 67 110 64 91 Memo: IBRD .. .. .. 0 5 27 35 6 4 4 IDA .. .. .. 0 35 2 39 30 14 22 PRINCIPAL REPAYMENTS .. .. .. 41 62 83 87 58 98 165 Public and publicly guaranteed .. .. .. 38 49 68 53 30 67 82 Official creditors .. .. .. 37 16 19 15 27 38 38 Multilateral .. .. .. 1 1 3 10 22 30 31 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 36 15 17 5 5 8 8 Concessional .. .. .. 0 0 7 3 5 6 5 Private creditors .. .. .. 1 33 49 38 3 29 44 Bonds .. .. .. 0 0 0 0 0 25 43 Commercial banks .. .. .. 1 25 49 9 0 0 0 Other private .. .. .. 0 8 0 29 3 3 0 Private nonguaranteed .. .. .. 3 13 15 34 28 31 82 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 3 13 15 34 28 31 82 Memo: IBRD .. .. .. 0 0 1 4 5 7 9 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 128 285 22 90 118 -5 -38 Public and publicly guaranteed .. .. .. 118 259 -6 57 36 -37 -46 Official 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 -4 Private 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 0 Private 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 8 Memo: IBRD .. .. .. 0 5 26 31 1 -3 -4 IDA .. .. .. 0 35 2 39 30 14 22 358 MOLDOVA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 24 40 45 50 47 49 42 Public and publicly guaranteed .. .. .. 24 38 42 46 40 40 26 Official creditors .. .. .. 22 20 28 20 23 22 16 Multilateral .. .. .. 15 14 24 16 18 18 13 Concessional .. .. .. 0 0 0 0 1 1 1 Bilateral .. .. .. 8 6 4 4 5 4 3 Concessional .. .. .. 2 3 3 3 3 3 3 Private creditors .. .. .. 1 19 14 26 17 18 10 Bonds .. .. .. 0 4 7 7 7 7 2 Commercial banks .. .. .. 1 6 3 3 0 0 0 Other private .. .. .. 1 9 3 15 9 11 7 Private nonguaranteed .. .. .. 1 2 3 4 7 8 16 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1 2 3 4 7 8 16 Memo: IBRD .. .. .. 10 9 9 11 11 10 8 IDA .. .. .. 0 0 0 0 1 1 1 NET TRANSFERS ON DEBT .. .. .. 103 245 -23 40 72 -53 -80 Public and publicly guaranteed .. .. .. 94 220 -48 11 -4 -77 -72 Official 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 -7 Private 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 -8 Private 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 -8 Memo: IBRD .. .. .. -10 -4 17 20 -10 -13 -12 IDA .. .. .. 0 35 2 39 30 13 21 DEBT SERVICE (LTDS) .. .. .. 65 102 128 138 104 147 207 Public and publicly guaranteed .. .. .. 62 87 110 99 70 107 108 Official creditors .. .. .. 60 36 48 35 50 60 54 Multilateral .. .. .. 15 14 27 26 40 48 43 Concessional .. .. .. 0 0 0 0 1 1 1 Bilateral .. .. .. 44 21 20 9 10 12 11 Concessional .. .. .. 2 3 9 5 8 9 7 Private creditors .. .. .. 2 51 62 64 20 47 53 Bonds .. .. .. 0 4 7 7 7 33 45 Commercial banks .. .. .. 1 31 52 12 0 0 0 Other private .. .. .. 1 16 3 45 12 14 8 Private nonguaranteed .. .. .. 4 15 18 39 35 40 99 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 4 15 18 39 35 40 99 Memo: IBRD .. .. .. 10 9 10 15 16 17 17 IDA .. .. .. 0 0 0 0 1 1 1 UNDISBURSED DEBT .. .. .. 398 271 277 203 128 79 90 Official creditors .. .. .. 208 229 236 171 101 79 90 Private creditors .. .. .. 191 42 41 32 26 0 0 Memorandum items Concessional LDOD .. .. .. 109 140 151 188 206 207 268 Variable rate LDOD .. .. .. 466 466 480 530 526 565 642 Public sector LDOD .. .. .. 550 778 783 708 857 791 841 Private sector LDOD .. .. .. 23 68 90 126 208 277 284 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 10.2 16.0 Deutsche mark .. .. .. 7.5 5.7 6.2 6.9 5.2 .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. .. 6.0 3.7 4.2 4.9 3.4 2.9 2.8 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 47.2 65.4 60.0 56.3 67.1 68.5 63.4 Multiple currency .. .. .. 25.5 16.9 20.8 23.5 18.4 18.3 17.5 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.1 0.3 All other currencies .. .. .. 13.6 8.3 8.8 8.4 5.9 0.0 0.0 359 MOLDOVA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 119 19 0 0 246 0 65 Debt stock rescheduled .. .. .. 0 0 0 0 19 0 9 Principal rescheduled .. .. .. 112 0 0 0 94 0 4 Official .. .. .. 112 0 0 0 76 0 1 Private .. .. .. 0 0 0 0 18 0 3 Interest rescheduled .. .. .. 6 0 0 0 6 0 1 Official .. .. .. 6 0 0 0 5 0 1 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 119 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 3 0 35 0 of which debt buyback .. .. .. 0 0 0 0 0 25 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 7.1 6.1 5.7 0.5 1.1 0.8 0.8 Maturity (years) .. .. .. 9.1 17.8 17.8 34.6 35.4 36.1 39.9 Grace period (years) .. .. .. 3.0 6.3 5.5 10.1 9.4 9.2 10.4 Grant element (%) .. .. .. 11.8 29.8 31.7 80.7 74.8 78.0 80.8 Official creditors Interest (%) .. .. .. 6.2 3.8 5.7 0.5 0.4 0.8 0.8 Maturity (years) .. .. .. 16.9 26.6 17.8 34.6 39.7 36.1 39.9 Grace period (years) .. .. .. 5.4 7.5 5.5 10.1 10.2 9.2 10.4 Grant element (%) .. .. .. 23.0 48.9 31.7 80.7 83.4 78.0 80.8 Private creditors Interest (%) .. .. .. 7.5 9.3 0.0 0.0 5.9 0.0 0.0 Maturity (years) .. .. .. 5.3 5.4 0.0 0.0 3.2 0.0 0.0 Grace period (years) .. .. .. 1.9 4.6 0.0 0.0 3.2 0.0 0.0 Grant element (%) .. .. .. 6.4 2.7 0.0 0.0 10.4 0.0 0.0 Memorandum items Commitments .. .. .. 385 223 59 66 20 10 43 Official creditors .. .. .. 125 131 59 66 18 10 43 Private creditors .. .. .. 260 92 0 0 2 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 31 24 15 10 5 2 1 1 0 0 Principal 140 113 141 118 58 52 90 56 49 49 Interest 50 49 37 26 22 18 15 13 10 10 Official creditors Disbursements 31 24 15 10 5 2 1 1 0 0 Principal 56 53 45 35 32 34 35 35 29 29 Interest 17 15 13 12 10 9 8 6 5 4 Bilateral creditors Disbursements 2 2 1 1 0 0 0 0 0 0 Principal 14 13 15 8 8 8 8 8 8 8 Interest 4 4 3 3 2 2 2 2 2 1 Multilateral creditors Disbursements 29 22 14 9 5 2 1 1 0 0 Principal 42 40 30 27 24 25 27 26 20 21 Interest 12 11 10 9 8 7 6 4 4 3 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 84 60 97 83 25 19 55 21 21 20 Interest 34 34 24 15 12 9 7 7 5 6 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3 1 1 1 1 1 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 82 59 96 82 24 18 55 21 21 20 Interest 34 34 24 14 12 9 7 7 5 6 360 MONGOLIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 534.1 606.2 726.7 914.1 896.4 885.0 1,037.2 Long-term debt (LDOD) .. .. .. 485.8 533.3 650.0 841.1 833.4 823.7 950.4 Public and publicly guaranteed .. .. .. 485.8 533.3 650.0 841.1 833.4 823.7 950.4 Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. .. .. 43.6 47.6 48.3 51.4 50.3 46.8 42.6 Short-term debt .. .. .. 4.8 25.3 28.4 21.6 12.8 14.4 44.2 of 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 0.0 Memo: 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 0.0 Memo: 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 83.4 Long-term debt .. .. .. 78.4 138.4 96.8 105.0 75.2 82.5 83.4 IMF purchases .. .. .. 8.1 7.7 0.0 8.1 7.8 5.2 0.0 Principal repayments .. .. .. 44.0 50.5 22.4 10.5 28.2 34.9 39.9 Long-term debt .. .. .. 34.0 49.6 21.2 6.7 21.8 28.1 32.2 IMF repurchases .. .. .. 10.0 0.9 1.3 3.8 6.4 6.8 7.7 Net flows on debt .. .. .. 35.6 116.3 77.5 95.1 45.4 52.8 73.5 of which short-term debt .. .. .. -6.9 20.7 3.1 -7.5 -9.5 0.0 30.1 Interest payments (INT) .. .. .. 8.8 12.5 8.6 11.0 10.5 10.4 12.5 Long-term debt .. .. .. 8.1 11.6 6.9 9.4 9.4 9.8 11.8 IMF charges .. .. .. 0.5 0.2 0.2 0.3 0.3 0.2 0.2 Short-term debt .. .. .. 0.2 0.6 1.5 1.3 0.8 0.4 0.5 Net transfers on debt .. .. .. 26.8 103.8 68.9 84.2 34.9 42.3 61.1 Total debt service paid (TDS) .. .. .. 52.8 63.0 31.1 21.5 38.6 45.3 52.4 Long-term debt .. .. .. 42.1 61.2 28.1 16.1 31.2 37.9 44.0 IMF repurchases and charges .. .. .. 10.5 1.1 1.5 4.1 6.6 7.1 7.9 Short-term debt (interest only) .. .. .. 0.2 0.6 1.5 1.3 0.8 0.4 0.5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 120.8 172.9 148.4 178.4 189.0 164.6 196.4 Net flow of long-term debt (ex. IMF) .. .. .. 44.3 88.8 75.7 98.3 53.4 54.4 51.1 Foreign direct investment (net) .. .. .. 15.9 25.0 18.9 30.4 53.7 43.0 77.8 Portfolio equity flows .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. .. 60.6 59.1 53.8 49.7 81.9 67.2 67.5 Memo: 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 .. .. .. 96.6 153.6 141.0 168.6 170.8 148.9 179.5 Interest on long-term debt .. .. .. 8.1 11.6 6.9 9.4 9.4 9.8 11.8 Profit remittances on FDI .. .. .. 16.1 7.6 0.5 0.4 8.8 5.9 5.1 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 1,037.0 892.4 972.5 895.4 954.5 1,030.5 1,119.8 Exports of goods, serv. & inc. (XGS) .. .. .. 492.5 627.3 555.8 544.0 638.5 676.5 778.3 Worker remit. & comp. of employees .. .. .. 0.0 0.0 5.5 7.2 12.0 25.0 56.3 Imports of goods & services (MGS) .. .. .. 599.2 576.3 680.7 663.0 790.7 846.1 964.6 International reserves (RES) .. .. .. 161.0 200.4 103.2 136.9 202.1 256.6 398.5 Current account balance .. .. .. -36.9 102.9 -74.7 -51.9 -69.9 -62.1 -105.0 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 108.4 96.6 130.8 168.0 140.4 130.8 133.3 EDT / GNI (%) .. .. .. 51.5 67.9 74.7 102.1 93.9 85.9 92.6 TDS / XGS (%) .. .. .. 10.7 10.0 5.6 3.9 6.1 6.7 6.7 INT / XGS (%) .. .. .. 1.8 2.0 1.6 2.0 1.6 1.5 1.6 INT / GNI (%) .. .. .. 0.8 1.4 0.9 1.2 1.1 1.0 1.1 RES / EDT (%) .. .. .. 30.1 33.1 14.2 15.0 22.5 29.0 38.4 RES / MGS (months) .. .. .. 3.2 4.2 1.8 2.5 3.1 3.6 5.0 Short-term / EDT (%) .. .. .. 0.9 4.2 3.9 2.4 1.4 1.6 4.3 Concessional / EDT (%) .. .. .. 76.3 81.6 87.0 89.6 91.2 91.5 90.3 Multilateral / EDT (%) .. .. .. 38.2 47.5 48.9 47.6 50.3 53.4 53.5 361 MONGOLIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 485.8 533.3 650.0 841.1 833.4 823.7 950.4 Public and publicly guaranteed .. .. .. 485.8 533.3 650.0 841.1 833.4 823.7 950.4 Official creditors .. .. .. 440.8 507.8 639.5 835.3 830.8 822.8 949.6 Multilateral .. .. .. 204.3 287.9 355.5 434.7 450.6 472.4 555.3 Concessional .. .. .. 204.3 287.9 355.5 434.7 450.6 472.4 555.3 Bilateral .. .. .. 236.6 219.9 284.0 400.6 380.2 350.5 394.3 Concessional .. .. .. 203.0 207.1 276.9 384.0 367.2 337.5 381.3 Private creditors .. .. .. 44.9 25.6 10.6 5.8 2.5 0.9 0.7 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 10.3 6.1 2.5 1.4 1.1 0.9 0.7 Other private .. .. .. 34.6 19.4 8.1 4.4 1.4 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 67.6 97.1 118.0 129.7 137.1 154.9 180.5 DISBURSEMENTS .. .. .. 78.4 138.4 96.8 105.0 75.2 82.5 83.4 Public and publicly guaranteed .. .. .. 78.4 138.4 96.8 105.0 75.2 82.5 83.4 Official creditors .. .. .. 78.4 138.4 96.4 105.0 75.2 82.5 83.4 Multilateral .. .. .. 45.1 101.4 48.9 63.7 47.3 54.6 41.9 Concessional .. .. .. 45.1 101.4 48.9 63.7 47.3 54.6 41.9 Bilateral .. .. .. 33.3 37.0 47.5 41.4 28.0 27.9 41.4 Concessional .. .. .. 31.9 26.3 47.5 41.4 28.0 27.9 41.4 Private creditors .. .. .. 0.0 0.0 0.4 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 0.4 0.0 0.0 0.0 0.0 Other private .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 13.9 PRINCIPAL REPAYMENTS .. .. .. 34.0 49.6 21.2 6.7 21.8 28.1 32.2 Public and publicly guaranteed .. .. .. 34.0 49.6 21.2 6.7 21.8 28.1 32.2 Official creditors .. .. .. 14.9 33.3 5.7 3.8 19.1 26.8 32.1 Multilateral .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 1.3 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 1.3 Bilateral .. .. .. 14.9 33.3 5.7 3.8 19.1 26.8 30.8 Concessional .. .. .. 5.5 1.8 0.0 0.2 15.6 26.8 30.8 Private creditors .. .. .. 19.1 16.3 15.5 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 4.1 0.3 0.3 0.1 0.1 Other private .. .. .. 15.0 12.2 11.4 2.6 2.4 1.2 0.0 Private 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 0.0 Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.7 NET FLOWS ON DEBT .. .. .. 44.3 88.8 75.7 98.3 53.4 54.4 51.1 Public and publicly guaranteed .. .. .. 44.3 88.8 75.7 98.3 53.4 54.4 51.1 Official 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 10.6 Private 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 0.0 Private 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 0.0 Memo: 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 13.3 362 MONGOLIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 8.1 11.6 6.9 9.4 9.4 9.8 11.8 Public and publicly guaranteed .. .. .. 8.1 11.6 6.9 9.4 9.4 9.8 11.8 Official creditors .. .. .. 5.2 9.1 5.7 8.9 9.1 9.7 11.8 Multilateral .. .. .. 1.6 2.0 2.7 3.4 4.0 4.0 4.6 Concessional .. .. .. 1.6 2.0 2.7 3.4 4.0 4.0 4.6 Bilateral .. .. .. 3.6 7.1 3.0 5.5 5.1 5.7 7.1 Concessional .. .. .. 2.1 5.7 2.5 5.3 5.0 5.7 7.1 Private creditors .. .. .. 2.9 2.5 1.2 0.5 0.3 0.1 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 0.4 0.5 0.2 0.1 0.0 0.0 0.0 Other private .. .. .. 2.4 2.0 1.0 0.4 0.3 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 0.5 0.5 0.7 0.9 1.0 1.0 1.2 NET TRANSFERS ON DEBT .. .. .. 36.3 77.2 68.7 88.9 44.0 44.6 39.4 Public and publicly guaranteed .. .. .. 36.3 77.2 68.7 88.9 44.0 44.6 39.4 Official 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 3.5 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) .. .. .. 42.1 61.2 28.1 16.1 31.2 37.9 44.0 Public and publicly guaranteed .. .. .. 42.1 61.2 28.1 16.1 31.2 37.9 44.0 Official creditors .. .. .. 20.1 42.3 11.4 12.7 28.2 36.5 43.8 Multilateral .. .. .. 1.6 2.0 2.7 3.4 4.0 4.0 5.9 Concessional .. .. .. 1.6 2.0 2.7 3.4 4.0 4.0 5.9 Bilateral .. .. .. 18.5 40.3 8.7 9.3 24.2 32.5 38.0 Concessional .. .. .. 7.6 7.4 2.5 5.5 20.6 32.5 38.0 Private creditors .. .. .. 22.0 18.9 16.7 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 4.3 0.4 0.3 0.2 0.2 Other private .. .. .. 17.4 14.2 12.4 3.0 2.6 1.2 0.0 Private 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 0.0 Memo: IBRD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. .. 0.5 0.5 0.7 0.9 1.0 1.0 1.9 UNDISBURSED DEBT .. .. .. 307.6 329.4 343.8 350.4 319.9 332.9 451.3 Official creditors .. .. .. 298.6 320.0 334.9 341.4 319.9 332.9 451.3 Private creditors .. .. .. 8.9 9.4 8.9 8.9 0.0 0.0 0.0 Memorandum items Concessional LDOD .. .. .. 407.3 495.0 632.3 818.7 817.8 809.8 936.6 Variable rate LDOD .. .. .. 8.0 4.0 0.5 0.2 0.1 0.0 0.0 Public sector LDOD .. .. .. 468.9 521.8 642.0 836.7 831.9 823.7 950.4 Private sector LDOD .. .. .. 16.9 11.5 8.1 4.4 1.4 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.6 6.5 Deutsche mark .. .. .. 5.4 5.2 5.2 4.0 4.3 .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. .. 25.7 20.8 24.2 25.5 25.0 23.5 23.5 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 1.7 1.4 1.2 0.7 0.7 0.7 0.8 U.S.dollars .. .. .. 34.5 34.3 30.3 34.4 35.8 38.4 38.2 Multiple currency .. .. .. 29.2 33.7 34.1 30.9 29.7 27.5 26.4 Special drawing rights .. .. .. 0.3 1.5 2.0 1.6 1.5 1.6 1.6 All other currencies .. .. .. 3.2 3.1 3.0 3.0 3.0 2.8 2.9 363 MONGOLIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 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 Principal rescheduled .. .. .. 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 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 0.0 0.0 Official .. .. .. 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 Debt forgiven .. .. .. 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 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 1.1 2.6 1.9 0.8 1.2 1.0 1.1 Maturity (years) .. .. .. 33.5 36.2 39.8 39.7 31.9 34.0 34.7 Grace period (years) .. .. .. 8.4 9.8 10.0 10.2 9.3 9.1 8.9 Grant element (%) .. .. .. 71.5 62.3 69.9 80.5 72.6 74.4 74.1 Official creditors Interest (%) .. .. .. 1.1 2.6 1.9 0.8 1.2 1.0 1.1 Maturity (years) .. .. .. 33.5 36.3 39.8 39.7 31.9 34.0 34.7 Grace period (years) .. .. .. 8.4 9.9 10.0 10.2 9.3 9.1 8.9 Grant element (%) .. .. .. 71.5 62.4 69.9 80.5 72.6 74.4 74.1 Private creditors Interest (%) .. .. .. 0.0 2.5 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. 0.0 3.8 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. 0.0 1.3 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. .. 0.0 15.6 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 58 184 92 12 102 118 129 Official creditors .. .. .. 58 183 92 12 102 118 129 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 83.4 105.7 119.1 73.5 53.7 37.4 25.2 16.7 10.4 5.9 Principal 32.2 15.7 18.6 23.1 27.4 31.9 36.7 40.1 42.2 47.5 Interest 11.8 11.5 12.2 13.7 16.2 17.0 16.8 16.6 16.3 15.9 Official creditors Disbursements 83.4 105.7 119.1 73.5 53.7 37.4 25.2 16.7 10.4 5.9 Principal 32.1 15.5 18.4 23.0 27.2 31.7 36.7 40.1 42.2 47.5 Interest 11.8 11.5 12.1 13.7 16.2 17.0 16.8 16.6 16.3 15.9 Bilateral creditors Disbursements 41.4 39.9 42.3 28.3 18.2 10.1 5.5 2.8 0.9 0.4 Principal 30.8 13.8 14.7 17.1 18.8 19.7 19.8 20.8 20.8 23.6 Interest 7.1 5.8 6.1 6.2 6.1 5.9 5.6 5.4 5.1 4.8 Multilateral creditors Disbursements 41.9 65.7 76.8 45.2 35.5 27.3 19.7 13.9 9.5 5.5 Principal 1.3 1.7 3.7 5.9 8.4 12.1 16.9 19.3 21.3 23.8 Interest 4.6 5.6 6.0 7.5 10.1 11.1 11.2 11.3 11.3 11.1 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 364 MOROCCO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 985 9,722 25,017 24,269 23,549 23,714 22,982 20,721 19,308 18,601 Long-term debt (LDOD) 886 8,488 23,860 22,833 21,399 21,883 20,966 19,161 17,638 16,913 Public and publicly guaranteed 871 8,338 23,660 22,441 20,447 20,766 18,871 17,300 15,885 15,001 Private nonguaranteed 15 150 200 392 952 1,117 2,095 1,862 1,753 1,912 Use of IMF credit 28 457 750 3 0 0 0 0 0 0 Short-term debt 71 777 407 1,432 2,150 1,831 2,016 1,559 1,669 1,688 of 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 0 Memo: 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 3 Memo: 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 1,451 Long-term debt 186 2,174 1,788 1,929 1,508 1,683 1,685 1,638 1,189 1,451 IMF purchases 10 278 65 0 0 0 0 0 0 0 Principal repayments 54 678 908 2,004 2,003 1,769 1,982 1,629 1,577 2,584 Long-term debt 40 591 680 1,957 2,000 1,769 1,982 1,629 1,577 2,584 IMF repurchases 14 88 228 47 3 0 0 0 0 0 Net flows on debt 142 1,814 1,032 1,156 221 -406 -124 -448 -278 -1,114 of which short-term debt 0 40 86 1,231 716 -321 174 -458 110 19 Interest payments (INT) 26 768 887 1,378 1,137 1,126 1,172 1,060 979 1,107 Long-term debt 26 651 795 1,336 1,036 1,020 1,071 948 925 1,077 IMF charges 0 12 72 2 0 0 0 0 0 0 Short-term debt 0 105 20 40 100 106 102 112 54 29 Net transfers on debt 116 1,046 145 -222 -915 -1,533 -1,296 -1,508 -1,257 -2,221 Total debt service paid (TDS) 80 1,446 1,795 3,382 3,140 2,895 3,155 2,688 2,556 3,691 Long-term debt 66 1,241 1,475 3,293 3,036 2,789 3,053 2,576 2,502 3,662 IMF repurchases and charges 14 99 300 49 3 0 0 0 0 0 Short-term debt (interest only) 0 105 20 40 100 106 102 112 54 29 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 190 1,748 1,753 792 1,015 709 1,402 641 2,587 -557 Net flow of long-term debt (ex. IMF) 146 1,584 1,108 -28 -491 -85 -298 10 -388 -1,133 Foreign direct investment (net) 20 89 165 322 1,188 417 1,376 423 2,808 428 Portfolio equity flows 0 0 0 142 38 24 6 18 -7 -14 Grants (excluding technical coop.) 24 75 480 356 281 353 318 191 174 163 Memo: 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 -2,116 Interest on long-term debt 26 651 795 1,336 1,036 1,020 1,071 948 925 1,077 Profit remittances on FDI 0 49 69 116 160 143 186 268 401 482 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 3,945 18,402 24,835 35,330 32,239 34,784 34,263 32,462 33,068 35,356 Exports of goods, serv. & inc. (XGS) .. 4,324 8,328 11,984 11,575 12,175 12,749 12,890 14,758 15,453 Worker remit. & comp. of employees 0 1,054 2,006 2,166 1,893 2,011 1,938 2,161 3,261 2,877 Imports of goods & services (MGS) .. 5,807 8,853 12,360 11,975 12,653 13,132 13,686 13,441 14,429 International reserves (RES) 142 814 2,338 4,054 4,197 4,638 5,894 5,017 8,669 10,375 Current account balance .. -1,407 -196 35 -87 -144 -167 -475 1,611 1,477 4. DEBT INDICATORS EDT / XGS (%) .. 224.8 300.4 202.5 203.4 194.8 180.3 160.8 130.8 120.4 EDT / GNI (%) 25.0 52.8 100.7 68.7 73.0 68.2 67.1 63.8 58.4 52.6 TDS / XGS (%) .. 33.4 21.5 28.2 27.1 23.8 24.7 20.9 17.3 23.9 INT / XGS (%) .. 17.7 10.7 11.5 9.8 9.2 9.2 8.2 6.6 7.2 INT / GNI (%) 0.7 4.2 3.6 3.9 3.5 3.2 3.4 3.3 3.0 3.1 RES / EDT (%) 14.4 8.4 9.3 16.7 17.8 19.6 25.6 24.2 44.9 55.8 RES / MGS (months) .. 1.7 3.2 3.9 4.2 4.4 5.4 4.4 7.7 8.6 Short-term / EDT (%) 7.2 8.0 1.6 5.9 9.1 7.7 8.8 7.5 8.6 9.1 Concessional / EDT (%) 63.2 27.9 31.9 28.7 28.8 29.2 28.6 29.4 29.8 31.2 Multilateral / EDT (%) 6.0 7.4 18.7 28.4 26.8 28.4 28.7 29.6 29.8 30.6 365 MOROCCO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 886 8,488 23,860 22,833 21,399 21,883 20,966 19,161 17,638 16,913 Public and publicly guaranteed 871 8,338 23,660 22,441 20,447 20,766 18,871 17,300 15,885 15,001 Official 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 4,818 Private 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 1,135 961 731 606 Private 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 1,912 Memo: 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 1,451 Public and publicly guaranteed 179 2,099 1,780 1,838 1,233 1,345 1,295 980 637 696 Official 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 90 709 287 409 324 197 181 119 144 121 Private 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 13 Private 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 91 275 338 390 658 552 754 Memo: 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 2,584 Public and publicly guaranteed 38 566 672 1,927 1,956 1,725 1,938 1,590 1,519 1,956 Official 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 33 198 209 233 229 237 311 393 Private 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 9 149 202 419 266 274 266 280 216 189 Private 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 58 628 Memo: 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 -1,133 Public and publicly guaranteed 141 1,534 1,108 -89 -723 -379 -644 -610 -882 -1,259 Official 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 -272 Private 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 -176 Private 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 61 231 294 346 619 494 126 Memo: IBRD 9 35 224 39 -165 -34 102 -169 -218 -222 IDA 2 1 -1 -1 -1 -1 -1 -1 -1 -1 366 MOROCCO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 26 651 795 1,336 1,036 1,020 1,071 948 925 1,077 Public and publicly guaranteed 25 639 790 1,325 989 973 1,013 877 877 1,055 Official 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 57 142 137 167 172 118 189 556 Private 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 51 Private 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 23 Memo: 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 -2,211 Public and publicly guaranteed 116 894 318 -1,414 -1,712 -1,352 -1,656 -1,486 -1,759 -2,314 Official 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 -828 Private 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 -227 Private 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 50 184 246 288 548 446 103 Memo: 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 3,662 Public and publicly guaranteed 62 1,205 1,462 3,252 2,945 2,697 2,951 2,466 2,396 3,011 Official 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 90 340 345 401 401 356 499 949 Private 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 14 274 367 574 393 389 363 365 278 240 Private 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 92 102 110 106 651 Memo: 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 4,843 Official creditors 221 1,882 3,416 3,899 3,915 3,690 3,771 3,201 3,641 4,492 Private creditors 21 409 671 438 563 498 712 434 312 352 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 36.7 39.0 Deutsche mark 11.7 3.7 5.2 6.7 6.4 6.4 5.7 5.4 .. .. French franc 29.5 26.4 24.5 22.1 20.2 21.5 19.4 19.4 .. .. Japanese yen 0.0 1.8 2.2 3.4 2.3 2.5 3.1 3.3 3.3 3.9 Pound sterling 0.0 0.4 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 Swiss franc 0.1 0.3 0.2 0.1 0.2 0.2 0.2 0.1 0.2 0.2 U.S.dollars 40.9 51.6 40.1 28.5 31.2 38.3 38.2 37.5 36.7 34.6 Multiple currency 6.8 6.6 15.4 21.5 20.3 10.5 10.3 9.4 8.7 7.0 Special drawing rights 0.0 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.3 0.2 All other currencies 11.0 9.0 12.1 17.4 19.1 20.4 22.8 24.5 14.0 15.1 367 MOROCCO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 31 0 5 0 0 117 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 39.8 Official 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 40.6 Private 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 18.7 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 1,469 1,295 834 511 289 158 88 33 13 4 Principal 2,762 2,547 1,804 1,543 1,472 1,400 1,374 1,286 876 785 Interest 661 608 525 461 403 347 293 241 195 164 Official creditors Disbursements 1,257 1,195 799 506 288 158 88 33 13 4 Principal 1,136 1,290 1,266 1,150 1,112 1,080 1,062 990 839 753 Interest 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 86 Private creditors Disbursements 212 100 34 5 0 0 0 0 0 0 Principal 1,627 1,257 537 392 360 320 312 296 38 32 Interest 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 2 368 MOZAMBIQUE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 4,650 7,566 7,632 8,289 6,965 7,038 4,449 4,609 Long-term debt (LDOD) .. .. 4,231 7,203 7,123 7,717 6,379 6,254 3,757 4,039 Public and publicly guaranteed .. .. 4,211 5,358 5,211 5,960 4,632 4,537 2,207 2,526 Private nonguaranteed .. .. 19 1,845 1,912 1,757 1,747 1,717 1,550 1,513 Use of IMF credit .. .. 74 181 189 207 200 219 196 200 Short-term debt .. .. 345 182 320 365 387 564 497 371 of 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 1 Memo: 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 2 Memo: export credits .. .. 986 999 1,492 1,056 1,162 921 871 417 TOTAL DEBT FLOWS Disbursements .. .. 242 300 300 258 158 184 145 262 Long-term debt .. .. 230 282 265 224 130 124 134 251 IMF purchases .. .. 12 18 35 34 29 60 11 11 Principal repayments .. .. 41 92 64 64 57 57 71 53 Long-term debt .. .. 41 59 49 39 40 57 71 48 IMF repurchases .. .. 0 33 15 25 17 0 0 5 Net flows on debt .. .. 173 197 335 192 214 63 181 64 of which short-term debt .. .. -28 -11 100 -2 113 -64 107 -146 Interest payments (INT) .. .. 38 49 45 40 48 31 18 23 Long-term debt .. .. 23 46 41 36 40 19 8 14 IMF charges .. .. 0 1 1 0 2 1 1 1 Short-term debt .. .. 15 1 3 3 6 11 10 8 Net transfers on debt .. .. 136 148 290 152 167 32 163 41 Total debt service paid (TDS) .. .. 79 141 110 104 105 88 89 76 Long-term debt .. .. 64 106 91 75 80 76 78 62 IMF repurchases and charges .. .. 0 34 16 25 19 1 1 6 Short-term debt (interest only) .. .. 15 1 3 3 6 11 10 8 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 948 736 798 1,072 1,097 932 974 2,273 Net flow of long-term debt (ex. IMF) .. .. 189 222 216 185 90 68 63 204 Foreign direct investment (net) .. .. 9 73 64 213 382 139 255 406 Portfolio equity flows .. .. 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. 750 441 518 674 626 725 656 1,663 Memo: 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 2,256 Interest on long-term debt .. .. 23 46 41 36 40 19 8 14 Profit remittances on FDI .. .. 0 10 11 12 6 0 20 3 Memo: official net transfers .. .. 897 624 692 835 694 805 741 1,878 private net transfers .. .. 29 55 54 189 358 108 205 378 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 2,320 2,673 3,218 3,663 3,777 3,453 3,130 3,408 Exports of goods, serv. & inc. (XGS) .. .. 300 540 572 577 637 769 1,073 1,271 Worker remit. & comp. of employees .. .. 70 61 64 46 38 37 42 42 Imports of goods & services (MGS) .. .. 1,164 1,186 1,181 1,320 1,711 1,763 1,906 1,990 International reserves (RES) .. .. 233 344 537 628 669 744 729 841 Current 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 1,093.8 915.5 414.8 362.8 EDT / GNI (%) .. .. 200.4 283.1 237.2 226.3 184.4 203.8 142.1 135.2 TDS / XGS (%) .. .. 26.2 26.0 19.2 17.9 16.4 11.4 8.3 6.0 INT / XGS (%) .. .. 12.6 9.0 7.9 6.9 7.5 4.1 1.7 1.8 INT / GNI (%) .. .. 1.6 1.8 1.4 1.1 1.3 0.9 0.6 0.7 RES / EDT (%) .. .. 5.0 4.5 7.0 7.6 9.6 10.6 16.4 18.3 RES / MGS (months) .. .. 2.4 3.5 5.5 5.7 4.7 5.1 4.6 5.1 Short-term / EDT (%) .. .. 7.4 2.4 4.2 4.4 5.6 8.0 11.2 8.0 Concessional / EDT (%) .. .. 44.8 42.3 41.7 48.9 50.5 49.5 46.4 51.6 Multilateral / EDT (%) .. .. 10.0 19.6 21.2 22.8 15.3 15.8 26.4 32.4 369 MOZAMBIQUE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 4,231 7,203 7,123 7,717 6,379 6,254 3,757 4,039 Public and publicly guaranteed .. .. 4,211 5,358 5,211 5,960 4,632 4,537 2,207 2,526 Official 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 2,408 927 923 Private 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 3 Private 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 1,513 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 268 1,076 1,160 1,335 702 760 777 985 DISBURSEMENTS .. .. 230 282 265 224 130 124 134 251 Public and publicly guaranteed .. .. 210 282 259 224 130 124 134 251 Official 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 7 Private 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 0 Private 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 0 Memo: 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 48 Public and publicly guaranteed .. .. 29 55 45 35 30 27 41 23 Official 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 10 Private 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 0 Private 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 25 Memo: 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 63 204 Public and publicly guaranteed .. .. 181 227 214 189 100 98 93 229 Official 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 -4 Private 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 0 Private 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 -25 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 74 220 147 128 78 96 49 147 370 MOZAMBIQUE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 23 46 41 36 40 19 8 14 Public and publicly guaranteed .. .. 22 45 41 28 32 19 8 14 Official creditors .. .. 17 45 40 28 32 19 8 14 Multilateral .. .. 7 15 16 17 12 8 6 11 Concessional .. .. 3 10 11 13 12 7 5 10 Bilateral .. .. 10 30 25 11 21 11 2 3 Concessional .. .. 6 15 16 10 21 10 2 2 Private creditors .. .. 6 0 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 1 0 0 0 0 0 0 0 Other private .. .. 5 0 0 0 0 0 0 0 Private nonguaranteed .. .. 0 1 1 8 8 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 1 1 8 8 0 0 0 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 1 7 8 9 11 4 4 5 NET TRANSFERS ON DEBT .. .. 166 176 175 149 50 49 55 190 Public and publicly guaranteed .. .. 158 182 173 161 67 79 85 215 Official 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 -6 Private 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 0 Private 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 -25 Memo: 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 62 Public and publicly guaranteed .. .. 52 100 86 63 62 46 48 37 Official 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 13 Private 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 0 Private 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 25 Memo: 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 1,130 Official creditors .. .. 822 944 892 716 873 926 1,057 1,130 Private creditors .. .. 13 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.9 4.9 Deutsche mark .. .. 5.0 4.5 4.0 3.9 4.4 4.1 .. .. French franc .. .. 12.1 9.7 8.8 8.8 9.3 8.8 .. .. Japanese yen .. .. 1.8 1.8 1.7 1.8 2.1 1.9 0.0 0.0 Pound sterling .. .. 2.4 2.2 2.2 2.0 2.5 2.2 0.0 0.0 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 52.8 61.8 61.8 62.0 66.1 67.8 74.5 73.7 Multiple currency .. .. 4.7 8.0 8.4 8.0 5.8 5.5 7.8 7.4 Special drawing rights .. .. 1.3 1.1 1.1 1.1 1.5 1.5 3.3 3.3 All other currencies .. .. 19.8 10.9 12.0 12.5 8.3 8.2 9.5 10.7 371 MOZAMBIQUE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 210 64 215 21 41 7 27 27 Memo: interest forgiven .. .. 14 67 8 0 1 2 294 2 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 1.4 2.1 1.5 0.8 0.7 0.8 0.7 0.9 Maturity (years) .. .. 35.0 23.8 41.9 42.9 40.6 46.7 40.8 35.8 Grace period (years) .. .. 9.2 8.7 9.7 10.5 10.2 12.9 10.8 9.2 Grant element (%) .. .. 71.8 59.4 73.5 81.6 80.8 82.9 81.5 76.0 Official creditors Interest (%) .. .. 1.3 2.1 1.5 0.8 0.7 0.8 0.7 0.9 Maturity (years) .. .. 35.2 23.8 41.9 42.9 40.6 46.7 40.8 35.8 Grace period (years) .. .. 9.2 8.7 9.7 10.5 10.2 12.9 10.8 9.2 Grant element (%) .. .. 72.3 59.4 73.5 81.6 80.8 82.9 81.5 76.0 Private creditors Interest (%) .. .. 9.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. 4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. 2.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. 2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. 177 11 303 51 310 238 317 267 Official creditors .. .. 176 11 303 51 310 238 317 267 Private creditors .. .. 1 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 175 224 217 141 122 89 67 41 27 13 Principal 109 109 115 121 124 129 130 133 141 151 Interest 45 44 42 41 40 38 37 35 33 31 Official creditors Disbursements 175 224 217 141 122 89 67 41 27 13 Principal 80 84 87 89 92 95 96 101 106 113 Interest 39 38 38 37 36 35 33 31 29 28 Bilateral creditors Disbursements 12 9 6 4 2 1 1 1 0 0 Principal 56 57 57 56 55 54 53 53 52 53 Interest 24 22 20 19 17 16 14 13 11 9 Multilateral creditors Disbursements 163 216 211 137 119 87 66 40 27 13 Principal 24 27 31 33 38 41 43 48 54 60 Interest 16 16 17 18 19 19 19 19 19 18 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 29 25 28 32 32 34 34 32 35 38 Interest 6 5 5 4 4 4 4 3 3 3 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 29 25 28 32 32 34 34 32 35 38 Interest 6 5 5 4 4 4 4 3 3 3 372 MYANMAR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 123 1,500 4,695 5,184 5,503 5,647 6,004 5,928 5,670 6,556 Long-term debt (LDOD) 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391 Public and publicly guaranteed 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 16 106 0 0 0 0 0 0 0 0 Short-term debt 0 4 229 381 434 594 666 686 664 1,165 of 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 54 Memo: 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 85 247 236 241 241 222 218 245 Memo: 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 5 Long-term debt 22 269 122 144 615 214 64 15 9 5 IMF purchases 0 13 0 0 0 0 0 0 0 0 Principal repayments 20 89 46 140 101 79 64 71 70 94 Long-term debt 20 66 44 140 101 79 64 71 70 94 IMF repurchases 0 23 2 0 0 0 0 0 0 0 Net flows on debt 1 171 91 -23 544 230 18 -16 -95 308 of which short-term debt 0 -22 14 -27 29 94 19 41 -34 397 Interest payments (INT) 3 52 14 18 15 14 32 16 13 19 Long-term debt 3 45 13 18 13 9 24 4 5 8 IMF charges 0 4 0 0 0 0 0 0 0 0 Short-term debt 0 3 2 1 2 5 8 12 8 11 Net transfers on debt -2 119 76 -41 529 216 -14 -31 -109 289 Total debt service paid (TDS) 23 141 60 158 116 93 96 87 84 113 Long-term debt 23 112 57 157 114 88 88 75 76 102 IMF repurchases and charges 0 26 2 0 0 0 0 0 0 0 Short-term debt (interest only) 0 3 2 1 2 5 8 12 8 11 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 16 269 278 430 978 520 284 247 213 110 Net flow of long-term debt (ex. IMF) 1 202 78 4 514 135 -1 -56 -61 -89 Foreign direct investment (net) 0 0 163 313 391 318 256 258 210 129 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 15 66 37 113 73 67 29 45 64 70 Memo: 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 -248 Interest on long-term debt 3 45 13 18 13 9 24 4 5 8 Profit remittances on FDI 0 0 147 125 214 136 35 137 381 350 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 6 124 149 137 136 104 117 117 Imports of goods & services (MGS) .. 931 797 2,246 2,594 2,858 2,527 2,662 3,371 .. International reserves (RES) 98 409 410 315 317 382 333 286 464 549 Current 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 8.4 RES / 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 17.8 Concessional / EDT (%) 45.9 72.7 87.6 83.5 74.1 77.5 78.4 70.4 70.7 67.2 Multilateral / EDT (%) 12.1 18.7 26.3 23.6 21.3 21.2 20.8 19.4 20.0 18.5 373 MYANMAR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391 Public and publicly guaranteed 106 1,390 4,466 4,804 5,069 5,053 5,337 5,242 5,007 5,391 Official 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 3,188 Private 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 34 231 250 366 452 539 527 434 365 338 Private 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 0 Memo: IBRD 15 0 0 0 0 0 0 0 0 0 IDA 0 146 716 742 724 727 723 684 693 729 DISBURSEMENTS 22 269 122 144 615 214 64 15 9 5 Public and publicly guaranteed 22 269 122 144 615 214 64 15 9 5 Official creditors 2 199 119 96 33 100 34 12 7 5 Multilateral 0 38 68 0 0 0 0 1 2 1 Concessional 0 38 68 0 0 0 0 1 2 1 Bilateral 2 161 51 97 33 100 34 11 6 3 Concessional 2 160 51 97 33 100 34 11 6 3 Private creditors 19 70 3 47 583 114 29 3 2 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 15 0 0 440 0 0 0 0 0 Other private 19 55 3 47 143 114 29 3 2 1 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 23 57 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 20 66 44 140 101 79 64 71 70 94 Public and publicly guaranteed 20 66 44 140 101 79 64 71 70 94 Official creditors 8 25 33 111 61 48 22 2 6 34 Multilateral 2 0 15 27 19 2 4 2 2 2 Concessional 0 0 14 26 18 2 4 2 2 2 Bilateral 5 25 18 85 42 46 18 0 4 31 Concessional 5 18 18 85 42 45 17 0 4 31 Private creditors 13 41 11 28 40 31 43 69 65 61 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 13 0 0 0 0 0 0 0 0 Other private 13 28 11 28 40 31 43 69 65 61 Private 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 0 Memo: IBRD 2 0 0 0 0 0 0 0 0 0 IDA 0 0 3 10 7 0 0 0 0 0 NET FLOWS ON DEBT 1 202 78 4 514 135 -1 -56 -61 -89 Public and publicly guaranteed 1 202 78 4 514 135 -1 -56 -61 -89 Official 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 -28 Private 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 -60 Private 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 0 Memo: IBRD -2 0 0 0 0 0 0 0 0 0 IDA 0 23 53 -11 -7 0 0 0 0 0 374 MYANMAR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 3 45 13 18 13 9 24 4 5 8 Public and publicly guaranteed 3 45 13 18 13 9 24 4 5 8 Official creditors 2 21 10 15 10 3 20 0 2 7 Multilateral 1 3 10 11 7 0 1 0 0 0 Concessional 0 2 10 11 7 0 1 0 0 0 Bilateral 1 19 0 3 3 3 19 0 2 6 Concessional 1 17 0 0 1 2 17 0 2 6 Private creditors 1 24 2 3 3 5 4 3 3 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 8 0 0 0 0 0 0 0 0 Other private 1 16 2 3 3 5 4 3 3 1 Private 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 0 Memo: IBRD 1 0 0 0 0 0 0 0 0 0 IDA 0 1 5 6 4 0 0 0 0 0 NET TRANSFERS ON DEBT -2 157 65 -14 501 127 -24 -60 -67 -97 Public and publicly guaranteed -2 157 65 -14 501 127 -24 -60 -67 -97 Official 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 -34 Private 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 -62 Private 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 0 Memo: IBRD -3 0 0 0 0 0 0 0 0 0 IDA 0 22 48 -17 -11 0 0 0 0 0 DEBT SERVICE (LTDS) 23 112 57 157 114 88 88 75 76 102 Public and publicly guaranteed 23 112 57 157 114 88 88 75 76 102 Official creditors 10 47 44 126 71 51 41 2 8 40 Multilateral 3 3 25 38 26 3 5 2 2 3 Concessional 0 2 24 37 25 3 5 2 2 3 Bilateral 6 44 19 88 45 49 37 0 6 38 Concessional 6 35 19 85 43 47 34 0 6 38 Private creditors 14 65 13 31 43 36 47 73 68 62 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 21 0 0 0 0 0 0 0 0 Other private 14 44 13 31 43 36 47 73 68 62 Private 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 0 Memo: IBRD 3 0 0 0 0 0 0 0 0 0 IDA 0 1 9 16 11 0 0 0 0 0 UNDISBURSED DEBT 106 1,282 914 893 745 560 551 34 25 12 Official creditors 74 1,072 890 674 615 507 528 32 23 12 Private creditors 32 210 24 219 130 52 23 3 1 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 10.4 12.0 Deutsche mark 15.4 11.6 12.4 12.0 10.3 10.5 8.8 8.4 .. .. French franc 0.0 2.6 3.0 1.4 1.2 1.2 1.0 1.0 .. .. Japanese yen 0.0 42.8 46.8 50.1 44.5 48.8 52.5 45.3 44.2 45.1 Pound sterling 31.2 4.3 1.7 1.5 1.5 1.4 1.3 1.2 1.3 1.3 Swiss franc 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 21.7 23.3 24.3 24.7 33.4 28.5 26.2 34.9 35.5 32.8 Multiple currency 14.0 7.7 7.6 6.8 6.0 6.4 6.9 6.1 6.0 6.2 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 17.7 7.5 4.1 3.5 3.1 3.3 3.2 3.1 2.5 2.6 375 MYANMAR (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.2 3.5 2.7 1.4 7.0 3.3 0.0 0.0 0.0 0.0 Maturity (years) 15.6 29.0 13.7 11.1 8.2 7.6 0.0 0.0 0.0 0.0 Grace period (years) 4.4 7.4 3.4 3.2 1.4 3.0 0.0 0.0 0.0 0.0 Grant element (%) 32.1 52.2 39.3 40.2 10.7 25.8 0.0 0.0 0.0 0.0 Official creditors Interest (%) 2.7 1.6 1.5 1.8 2.8 0.0 0.0 0.0 0.0 0.0 Maturity (years) 28.3 37.0 16.7 13.6 15.6 0.0 0.0 0.0 0.0 0.0 Grace period (years) 7.9 9.6 5.2 4.1 5.5 0.0 0.0 0.0 0.0 0.0 Grant element (%) 56.9 71.0 53.3 44.7 43.4 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 5.3 8.0 3.5 1.1 7.2 3.3 0.0 0.0 0.0 0.0 Maturity (years) 6.3 10.4 11.6 8.9 8.0 7.6 0.0 0.0 0.0 0.0 Grace period (years) 1.8 2.2 2.1 2.4 1.2 3.0 0.0 0.0 0.0 0.0 Grant element (%) 13.9 8.5 29.4 36.2 9.6 25.8 0.0 0.0 0.0 0.0 Memorandum items Commitments 42 605 42 342 514 27 0 0 0 0 Official creditors 18 423 17 162 16 0 0 0 0 0 Private creditors 24 182 24 181 498 27 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 3 2 1 1 1 0 0 0 0 0 Principal 415 414 398 203 189 183 164 132 114 107 Interest 56 45 36 28 24 21 17 15 13 11 Official creditors Disbursements 3 2 1 1 1 0 0 0 0 0 Principal 199 201 197 196 188 183 164 132 114 107 Interest 38 35 31 28 24 21 17 15 13 11 Bilateral creditors Disbursements 2 2 1 0 0 0 0 0 0 0 Principal 145 146 143 142 135 129 112 79 61 54 Interest 28 25 22 19 16 13 10 8 6 5 Multilateral creditors Disbursements 1 1 0 0 0 0 0 0 0 0 Principal 53 55 54 54 53 54 52 52 53 53 Interest 10 10 9 9 8 8 7 7 6 6 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 217 213 201 8 1 0 0 0 0 0 Interest 17 11 5 0 0 0 0 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 182 182 182 0 0 0 0 0 0 0 Interest 16 10 4 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 35 31 19 8 1 0 0 0 0 0 Interest 2 1 0 0 0 0 0 0 0 0 376 NEPAL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 3 205 1,640 2,411 2,390 2,646 2,970 2,822 2,693 2,953 Long-term debt (LDOD) 3 156 1,572 2,346 2,332 2,591 2,910 2,783 2,635 2,913 Public and publicly guaranteed 3 156 1,572 2,346 2,332 2,591 2,910 2,783 2,635 2,913 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 42 44 39 30 24 18 12 8 4 Short-term debt 0 7 24 26 28 31 43 26 50 36 of which interest arrears on LDOD 0 0 4 2 1 1 0 0 0 0 Official creditors 0 0 4 2 1 1 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 0 6 10 9 9 2 1 1 0 Official creditors 0 0 6 4 4 4 1 1 1 0 Private creditors 0 0 0 6 5 4 1 0 0 0 Memo: export credits 0 0 109 25 82 13 11 10 10 8 TOTAL DEBT FLOWS Disbursements 1 68 168 158 214 177 145 154 112 70 Long-term debt 1 50 168 158 214 177 145 154 112 70 IMF purchases 0 18 0 0 0 0 0 0 0 0 Principal repayments 2 3 41 47 70 61 75 71 63 71 Long-term debt 2 2 29 39 63 54 69 66 59 66 IMF repurchases 0 1 12 8 7 7 6 4 4 4 Net flows on debt -2 61 129 114 146 118 83 67 72 -15 of which short-term debt 0 -5 2 3 3 2 13 -16 23 -14 Interest payments (INT) 0 5 29 31 28 27 32 29 26 27 Long-term debt 0 2 25 30 26 26 30 27 25 26 IMF charges 0 1 2 0 0 0 0 0 0 0 Short-term debt 0 2 2 1 1 2 2 2 1 1 Net transfers on debt -2 56 100 83 119 91 51 38 46 -42 Total debt service paid (TDS) 2 8 70 78 98 88 107 100 89 98 Long-term debt 2 4 54 69 89 80 99 93 84 93 IMF repurchases and charges 0 1 14 8 7 7 6 4 4 4 Short-term debt (interest only) 0 2 2 1 1 2 2 2 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7 127 282 280 313 251 224 231 236 212 Net flow of long-term debt (ex. IMF) -2 48 139 119 151 123 76 88 53 3 Foreign direct investment (net) 0 0 0 19 23 12 0 0 0 10 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 9 79 143 142 140 117 148 143 183 199 Memo: 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 7 125 257 250 287 226 194 204 211 186 Interest on long-term debt 0 2 25 30 26 26 30 27 25 26 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 866 1,958 3,640 4,529 4,926 4,863 5,046 5,514 5,591 5,542 Exports of goods, serv. & inc. (XGS) .. 272 447 1,223 1,361 1,160 1,407 1,466 1,351 1,061 Worker remit. & comp. of employees 0 0 0 44 50 68 84 112 147 802 Imports of goods & services (MGS) .. 419 845 1,770 1,945 1,462 1,735 1,825 1,759 1,513 International reserves (RES) 94 272 354 628 671 800 889 987 1,080 1,070 Current account balance .. -39 -289 -327 -388 -67 -79 -131 -165 .. 4. DEBT INDICATORS EDT / XGS (%) .. 75.3 366.6 197.0 175.7 228.1 211.1 192.5 199.3 278.4 EDT / GNI (%) 0.3 10.4 45.1 53.2 48.5 54.4 58.9 51.2 48.2 53.3 TDS / XGS (%) .. 2.9 15.7 6.4 7.2 7.6 7.6 6.8 6.6 9.2 INT / XGS (%) .. 1.9 6.5 2.6 2.0 2.4 2.3 2.0 2.0 2.6 INT / GNI (%) 0.0 0.3 0.8 0.7 0.6 0.6 0.6 0.5 0.5 0.5 RES / EDT (%) 3,366.8 133.0 21.6 26.0 28.1 30.2 29.9 35.0 40.1 36.2 RES / MGS (months) .. 7.8 5.0 4.3 4.1 6.6 6.2 6.5 7.4 8.5 Short-term / EDT (%) 0.0 3.4 1.5 1.1 1.2 1.2 1.4 0.9 1.9 1.2 Concessional / EDT (%) 69.5 75.7 88.5 94.7 95.8 96.7 97.5 98.4 97.7 98.5 Multilateral / EDT (%) 7.2 62.0 77.3 82.4 83.2 84.4 85.6 87.1 87.4 88.7 377 NEPAL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 3 156 1,572 2,346 2,332 2,591 2,910 2,783 2,635 2,913 Public and publicly guaranteed 3 156 1,572 2,346 2,332 2,591 2,910 2,783 2,635 2,913 Official 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 28 193 299 302 328 356 321 276 289 Private 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 5 Private 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 0 Memo: 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 DISBURSEMENTS 1 50 168 158 214 177 145 154 112 70 Public and publicly guaranteed 1 50 168 158 214 177 145 154 112 70 Official creditors 1 50 166 158 211 177 145 154 112 70 Multilateral 0 36 146 146 159 167 123 142 103 64 Concessional 0 36 146 146 159 167 123 142 103 64 Bilateral 0 14 20 12 52 10 22 11 9 5 Concessional 0 14 20 12 52 10 22 11 9 5 Private creditors 0 0 2 0 3 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 2 0 3 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 25 68 62 55 63 48 49 43 34 PRINCIPAL REPAYMENTS 2 2 29 39 63 54 69 66 59 66 Public and publicly guaranteed 2 2 29 39 63 54 69 66 59 66 Official creditors 2 2 13 35 43 42 56 58 59 66 Multilateral 0 2 10 26 28 26 36 37 38 45 Concessional 0 2 10 26 28 26 33 37 38 45 Bilateral 2 0 3 9 15 15 21 21 20 21 Concessional 1 0 3 9 15 15 21 21 20 21 Private creditors 0 0 16 4 20 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 16 4 20 13 13 8 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 8 9 11 14 16 17 20 NET FLOWS ON DEBT -2 48 139 119 151 123 76 88 53 3 Public and publicly guaranteed -2 48 139 119 151 123 76 88 53 3 Official 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 -16 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 25 65 54 45 52 34 33 26 14 378 NEPAL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 2 25 30 26 26 30 27 25 26 Public and publicly guaranteed 0 2 25 30 26 26 30 27 25 26 Official creditors 0 2 14 25 22 22 28 26 25 26 Multilateral 0 1 10 17 17 18 23 22 21 22 Concessional 0 1 10 17 17 18 22 22 21 22 Bilateral 0 1 4 8 5 5 5 4 4 4 Concessional 0 1 4 8 5 5 5 4 4 4 Private creditors 0 0 12 4 4 3 2 1 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 12 4 4 3 2 1 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 5 8 8 8 8 8 8 9 NET TRANSFERS ON DEBT -2 46 114 89 124 97 46 61 28 -23 Public and publicly guaranteed -2 46 114 89 124 97 46 61 28 -23 Official 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 -20 Private 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 -1 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 25 61 46 38 44 25 25 18 6 DEBT SERVICE (LTDS) 2 4 54 69 89 80 99 93 84 93 Public and publicly guaranteed 2 4 54 69 89 80 99 93 84 93 Official creditors 2 4 27 61 65 64 84 84 83 92 Multilateral 0 3 20 43 45 44 59 59 59 67 Concessional 0 3 20 43 45 44 55 59 59 67 Bilateral 2 1 7 17 21 20 26 26 24 25 Concessional 1 1 7 17 21 20 26 26 24 25 Private creditors 0 0 27 8 24 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 27 8 24 16 15 9 0 1 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 7 16 17 19 22 24 25 28 UNDISBURSED DEBT 26 366 1,318 878 779 672 570 404 508 511 Official creditors 26 366 1,307 873 779 672 570 404 508 511 Private creditors 0 0 10 5 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.2 2.5 Deutsche mark 20.4 0.0 0.9 0.3 0.2 0.2 0.1 0.1 .. .. French franc 0.0 0.2 2.0 1.8 1.6 1.5 1.4 1.7 .. .. Japanese yen 0.0 7.9 8.4 9.8 10.2 9.9 9.5 8.5 7.5 7.0 Pound sterling 50.8 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 8.5 49.5 49.6 43.7 42.5 41.4 37.0 39.0 41.5 40.6 Multiple currency 3.9 31.2 32.6 35.9 36.5 37.7 43.6 42.3 40.8 42.2 Special drawing rights 0.0 0.0 2.7 6.4 7.1 7.4 6.8 6.8 6.8 6.6 All other currencies 16.5 11.0 3.6 2.0 1.7 1.8 1.5 1.6 1.1 1.0 379 NEPAL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 2 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.8 0.8 0.9 3.2 0.8 3.3 0.7 1.4 1.3 1.0 Maturity (years) 26.9 46.0 39.2 38.7 36.8 38.3 39.5 31.4 31.0 36.0 Grace period (years) 6.2 10.2 10.3 10.3 9.7 9.8 10.3 8.1 8.3 9.2 Grant element (%) 53.1 81.2 78.8 58.7 77.3 56.9 80.7 69.5 69.9 75.4 Official creditors Interest (%) 2.8 0.8 0.9 3.2 0.8 3.3 0.7 1.4 1.3 1.0 Maturity (years) 26.9 46.0 39.2 38.7 36.8 38.3 39.5 31.4 31.0 36.0 Grace period (years) 6.2 10.2 10.3 10.3 9.7 9.8 10.3 8.1 8.3 9.2 Grant element (%) 53.1 81.2 78.8 58.7 77.3 56.9 80.7 69.5 69.9 75.4 Private creditors Interest (%) 0.0 0.0 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 0.0 0.0 Grace period (years) 0.0 0.0 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 0.0 0.0 0.0 Memorandum items Commitments 17 92 219 290 191 84 87 86 249 78 Official creditors 17 92 219 290 191 84 87 86 249 78 Private creditors 0 0 0 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 132 136 93 62 38 25 15 6 4 0 Principal 71 75 82 87 93 102 112 120 123 125 Interest 30 31 31 32 36 36 35 35 33 32 Official creditors Disbursements 132 136 93 62 38 25 15 6 4 0 Principal 71 74 81 87 92 102 111 120 123 125 Interest 30 31 31 32 36 36 35 35 33 31 Bilateral creditors Disbursements 15 19 12 8 5 2 1 0 0 0 Principal 23 23 23 21 21 21 20 20 20 19 Interest 4 4 4 4 3 3 3 2 2 2 Multilateral creditors Disbursements 117 118 81 54 33 22 13 6 4 0 Principal 48 51 58 66 71 81 91 100 103 106 Interest 26 26 27 28 33 33 33 32 31 30 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 380 NICARAGUA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 203 2,193 10,745 5,961 6,229 6,450 6,909 6,853 6,408 6,485 Long-term debt (LDOD) 147 1,671 8,313 5,148 5,364 5,663 5,889 5,774 5,577 5,756 Public and publicly guaranteed 147 1,671 8,313 5,148 5,364 5,636 5,779 5,492 5,437 5,576 Private nonguaranteed 0 0 0 0 0 28 110 281 140 181 Use of IMF credit 8 49 0 29 27 52 155 169 158 174 Short-term debt 48 472 2,432 784 837 735 865 911 674 554 of 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 13 Memo: 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 19 973 271 222 220 220 216 217 213 Memo: export credits 0 0 643 801 698 617 569 578 650 914 TOTAL DEBT FLOWS Disbursements 54 276 577 226 610 280 509 527 308 296 Long-term debt 44 276 577 226 610 258 402 500 308 287 IMF purchases 10 0 0 0 0 23 107 27 0 9 Principal repayments 29 46 4 134 182 86 99 189 263 104 Long-term debt 16 45 4 124 182 86 96 183 258 100 IMF repurchases 13 1 0 9 0 0 3 5 5 4 Net flows on debt 24 345 593 85 390 -22 482 341 62 188 of which short-term debt 0 115 21 -7 -38 -217 71 3 17 -4 Interest payments (INT) 7 69 11 85 144 169 87 98 73 48 Long-term debt 7 42 5 72 129 91 82 90 68 43 IMF charges 0 3 0 0 0 0 1 1 1 1 Short-term debt 0 25 6 13 15 78 5 7 5 4 Net transfers on debt 18 276 582 0 246 -191 394 243 -11 140 Total debt service paid (TDS) 36 115 16 219 326 255 186 286 337 151 Long-term debt 23 86 9 196 311 176 178 274 326 142 IMF repurchases and charges 13 3 0 10 0 0 3 6 6 5 Short-term debt (interest only) 0 25 6 13 15 78 5 7 5 4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 43 279 813 840 849 746 969 838 838 579 Net flow of long-term debt (ex. IMF) 28 231 572 101 428 172 306 317 50 187 Foreign direct investment (net) 15 0 0 120 203 218 337 267 150 174 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 0 48 241 619 218 356 326 255 637 218 Memo: 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 36 217 808 723 667 597 825 678 693 467 Interest on long-term debt 7 42 5 72 129 91 82 90 68 43 Profit remittances on FDI 0 21 0 45 53 58 62 69 77 69 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 2,996 3,133 3,319 3,487 3,656 3,703 3,811 Exports of goods, serv. & inc. (XGS) .. 514 404 749 962 1,057 1,170 1,304 1,283 1,294 Worker remit. & comp. of employees 0 0 0 95 150 200 300 320 336 377 Imports of goods & services (MGS) .. 1,049 911 1,632 1,890 1,876 2,260 2,229 2,229 2,182 International reserves (RES) 49 75 166 203 382 355 514 492 384 453 Current account balance .. -411 -305 -883 -928 -819 -1,090 -925 -946 -888 4. DEBT INDICATORS EDT / XGS (%) .. 426.6 2,659.6 796.0 647.5 610.2 590.5 525.4 499.6 501.3 EDT / GNI (%) .. .. .. 199.0 198.8 194.3 198.1 187.5 173.1 170.2 TDS / XGS (%) .. 22.3 3.9 29.2 33.9 24.1 15.9 22.0 26.2 11.7 INT / XGS (%) .. 13.4 2.8 11.4 14.9 16.0 7.5 7.5 5.7 3.7 INT / GNI (%) .. .. .. 2.8 4.6 5.1 2.5 2.7 2.0 1.2 RES / EDT (%) 24.3 3.4 1.5 3.4 6.1 5.5 7.4 7.2 6.0 7.0 RES / MGS (months) .. 0.9 2.2 1.5 2.4 2.3 2.7 2.7 2.1 2.5 Short-term / EDT (%) 23.7 21.5 22.6 13.2 13.4 11.4 12.5 13.3 10.5 8.5 Concessional / EDT (%) 29.2 21.5 30.6 36.9 40.9 43.1 42.5 45.2 51.2 54.4 Multilateral / EDT (%) 23.7 19.3 8.8 26.1 33.4 35.5 35.7 30.9 34.3 37.4 381 NICARAGUA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 147 1,671 8,313 5,148 5,364 5,663 5,889 5,774 5,577 5,756 Public and publicly guaranteed 147 1,671 8,313 5,148 5,364 5,636 5,779 5,492 5,437 5,576 Official 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 1,406 Private 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 22 Private 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 28 110 281 140 181 Memo: IBRD 27 93 239 44 24 15 9 5 0 0 IDA 3 42 60 335 368 487 598 654 691 811 DISBURSEMENTS 44 276 577 226 610 258 402 500 308 287 Public and publicly guaranteed 44 276 577 226 610 258 284 215 235 220 Official creditors 32 276 554 209 605 255 278 213 231 212 Multilateral 11 90 7 139 560 219 208 170 184 202 Concessional 4 72 0 110 116 215 206 168 184 202 Bilateral 21 186 546 70 45 37 70 43 47 11 Concessional 19 108 370 55 40 27 66 34 21 11 Private creditors 12 0 23 17 5 2 6 2 3 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 12 0 0 17 5 2 0 0 0 7 Other private 0 0 23 0 0 0 6 2 3 1 Private nonguaranteed 0 0 0 0 0 0 118 285 74 66 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 118 285 74 66 Memo: IBRD 6 12 0 0 0 0 0 0 0 0 IDA 0 19 0 69 50 105 120 87 63 72 PRINCIPAL REPAYMENTS 16 45 4 124 182 86 96 183 258 100 Public and publicly guaranteed 16 45 4 124 182 86 59 70 68 60 Official creditors 3 19 1 104 161 71 54 61 62 58 Multilateral 2 14 1 40 85 37 28 36 30 10 Concessional 0 1 0 13 11 14 13 17 11 6 Bilateral 1 4 1 63 76 34 26 26 32 48 Concessional 0 2 0 3 15 4 6 8 10 22 Private creditors 13 26 3 21 21 15 5 8 6 3 Bonds 0 0 0 8 0 0 0 0 0 0 Commercial banks 10 20 0 8 9 10 4 5 3 2 Other private 2 6 3 4 12 5 1 3 3 0 Private nonguaranteed 0 0 0 0 0 0 38 114 191 39 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 38 114 191 39 Memo: IBRD 1 4 1 16 17 9 6 5 5 0 IDA 0 0 0 1 1 1 1 2 1 0 NET FLOWS ON DEBT 28 231 572 101 428 172 306 317 50 187 Public and publicly guaranteed 28 231 572 101 428 172 225 146 167 160 Official 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 -12 Private 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 1 Private 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 27 Memo: IBRD 4 8 -1 -16 -17 -9 -6 -5 -5 0 IDA 0 19 0 67 49 104 119 86 62 72 382 NICARAGUA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 7 42 5 72 129 91 82 90 68 43 Public and publicly guaranteed 7 42 5 72 129 91 77 78 55 38 Official creditors 3 38 4 68 123 87 75 75 52 36 Multilateral 2 29 1 45 54 50 57 64 30 16 Concessional 0 7 0 11 11 28 29 37 14 10 Bilateral 1 8 3 22 68 37 18 12 22 21 Concessional 1 3 0 10 27 9 6 7 14 16 Private creditors 4 4 1 4 6 3 1 3 3 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 3 0 0 3 6 3 1 2 2 1 Other private 0 4 1 1 1 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 0 5 12 13 5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 5 12 13 5 Memo: IBRD 1 11 1 6 3 2 6 1 0 0 IDA 0 0 0 2 3 3 4 5 2 2 NET TRANSFERS ON DEBT 21 190 567 30 299 81 224 226 -17 144 Public and publicly guaranteed 21 190 567 30 299 81 148 67 112 122 Official 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 -28 Private 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 1 Private 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 22 Memo: IBRD 3 -3 -2 -22 -20 -11 -11 -6 -5 0 IDA 0 19 0 65 47 101 115 81 59 70 DEBT SERVICE (LTDS) 23 86 9 196 311 176 178 274 326 142 Public and publicly guaranteed 23 86 9 196 311 176 135 148 123 98 Official creditors 7 56 5 171 284 158 129 137 114 94 Multilateral 5 43 2 85 140 87 85 99 60 26 Concessional 0 8 0 24 22 42 42 54 25 15 Bilateral 2 13 3 86 144 71 44 38 54 69 Concessional 1 5 0 14 42 13 12 15 25 39 Private creditors 16 30 4 25 27 18 6 11 8 4 Bonds 0 0 0 8 0 0 0 0 0 0 Commercial banks 14 20 0 11 14 13 5 8 5 3 Other private 3 10 4 5 13 5 1 3 4 1 Private nonguaranteed 0 0 0 0 0 0 43 126 203 44 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 43 126 203 44 Memo: IBRD 3 15 1 22 20 11 11 6 5 0 IDA 0 0 0 4 4 4 5 6 3 2 UNDISBURSED DEBT 62 449 573 649 408 750 665 620 782 847 Official creditors 52 418 562 637 398 742 655 599 766 838 Private creditors 9 30 11 12 10 8 10 21 16 10 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 11.1 12.0 Deutsche mark 3.9 2.9 1.3 8.2 7.0 7.6 6.6 6.5 .. .. French franc 0.0 0.0 1.3 2.9 2.0 2.1 1.0 1.1 .. .. Japanese yen 0.0 0.0 0.0 2.3 1.9 2.1 2.4 2.3 2.0 2.0 Pound sterling 1.6 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0 0.0 U.S.dollars 66.4 72.1 79.9 60.1 70.2 69.5 72.3 71.7 73.3 72.7 Multiple currency 28.1 20.9 10.3 17.6 11.4 10.9 11.0 11.2 10.9 10.3 Special drawing rights 0.0 0.4 0.1 0.3 0.3 0.3 0.3 0.4 0.5 0.6 All other currencies 0.0 3.5 7.0 8.5 7.1 7.3 6.3 6.7 2.3 2.4 383 NICARAGUA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 1 Debt forgiven .. .. 0 23 182 39 43 28 79 289 Memo: interest forgiven .. .. 0 923 2 10 8 7 346 172 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.1 4.0 4.6 2.0 7.1 1.8 1.3 1.5 0.9 2.0 Maturity (years) 17.9 25.3 12.1 32.8 4.5 49.3 38.2 37.2 39.0 35.2 Grace period (years) 3.9 6.7 1.7 8.1 0.6 9.2 9.8 9.8 10.2 9.4 Grant element (%) 18.9 44.1 23.6 63.7 7.6 68.8 74.4 71.7 78.3 66.0 Official creditors Interest (%) 5.8 3.9 4.4 2.0 7.1 1.8 1.1 1.6 0.9 2.0 Maturity (years) 27.8 26.4 12.4 32.6 4.3 49.3 39.5 37.0 39.0 35.2 Grace period (years) 6.5 7.0 1.8 8.1 0.6 9.2 10.1 9.8 10.2 9.4 Grant element (%) 32.7 45.5 24.5 63.5 7.1 68.8 76.9 71.0 78.3 66.0 Private creditors Interest (%) 8.6 4.3 9.4 0.0 0.8 0.0 6.8 0.7 0.0 0.0 Maturity (years) 7.0 9.2 4.9 39.7 39.6 0.0 3.3 39.9 0.0 0.0 Grace period (years) 1.0 2.1 0.4 10.2 10.1 0.0 1.3 10.5 0.0 0.0 Grant element (%) 3.7 22.7 0.9 74.9 69.0 0.0 6.1 80.5 0.0 0.0 Memorandum items Commitments 23 434 447 208 486 587 215 184 381 264 Official creditors 12 407 429 203 482 587 207 170 381 264 Private creditors 11 27 18 5 3 0 8 14 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 207 196 161 118 87 50 33 15 9 5 Principal 312 277 302 289 262 252 244 238 231 196 Interest 112 108 110 112 105 97 90 84 77 71 Official creditors Disbursements 200 193 161 118 87 50 33 15 9 5 Principal 271 236 243 255 235 240 231 225 218 183 Interest 106 102 105 107 101 95 88 81 75 69 Bilateral creditors Disbursements 23 24 18 15 11 7 4 4 3 1 Principal 210 174 176 182 158 175 160 150 139 95 Interest 60 55 56 58 52 47 41 36 32 27 Multilateral creditors Disbursements 176 169 143 104 75 43 29 11 6 4 Principal 60 61 66 72 77 65 71 75 79 87 Interest 46 47 49 50 49 48 47 45 44 42 Private creditors Disbursements 7 3 0 0 0 0 0 0 0 0 Principal 41 41 59 34 28 12 12 12 13 13 Interest 6 6 5 4 4 3 2 2 2 2 Commercial banks Disbursements 6 2 0 0 0 0 0 0 0 0 Principal 8 8 26 6 6 6 6 6 7 7 Interest 3 3 3 2 2 2 2 2 2 1 Other private Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 33 33 33 28 22 6 6 6 6 6 Interest 3 3 3 2 2 1 1 0 0 0 384 NIGER (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 32 863 1,726 1,522 1,556 1,650 1,667 1,686 1,589 1,797 Long-term debt (LDOD) 32 687 1,487 1,425 1,404 1,509 1,521 1,527 1,470 1,658 Public and publicly guaranteed 32 383 1,226 1,315 1,308 1,437 1,451 1,459 1,408 1,604 Private nonguaranteed 0 305 261 110 96 72 70 68 62 54 Use of IMF credit 0 16 85 53 61 76 68 74 81 106 Short-term debt 0 159 154 44 91 65 78 85 38 33 of which interest arrears on LDOD 0 0 31 24 34 36 46 60 27 25 Official creditors 0 0 16 24 34 36 46 60 27 25 Private creditors 0 0 16 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 1 80 56 59 60 85 97 77 66 Official creditors 0 1 39 56 59 60 85 97 77 66 Private creditors 0 0 41 0 0 0 0 0 0 0 Memo: export credits 0 0 398 243 233 60 53 55 43 45 TOTAL DEBT FLOWS Disbursements 12 290 148 56 111 111 62 87 89 140 Long-term debt 12 281 139 42 84 85 62 76 78 118 IMF purchases 0 9 9 14 27 26 0 11 11 22 Principal repayments 2 57 63 44 49 50 20 16 20 19 Long-term debt 2 57 47 33 34 36 14 14 20 16 IMF repurchases 0 0 16 12 15 14 6 2 1 2 Net flows on debt 11 286 123 14 98 33 45 64 54 118 of which short-term debt 0 53 38 2 36 -28 4 -7 -14 -3 Interest payments (INT) 1 84 36 12 15 12 11 9 8 9 Long-term debt 1 65 23 10 13 10 10 8 7 9 IMF charges 0 0 3 1 1 1 0 0 0 0 Short-term debt 0 19 9 1 2 1 1 1 1 0 Net transfers on debt 10 202 87 2 83 21 34 55 46 109 Total debt service paid (TDS) 2 141 99 56 64 62 31 25 28 28 Long-term debt 2 122 71 43 46 47 24 22 27 25 IMF repurchases and charges 0 0 19 13 16 15 6 2 1 3 Short-term debt (interest only) 0 19 9 1 2 1 1 1 1 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 26 324 358 185 265 216 170 183 214 238 Net flow of long-term debt (ex. IMF) 11 223 91 10 51 49 48 62 58 102 Foreign direct investment (net) 1 49 41 20 25 9 0 9 23 8 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 15 51 226 155 190 158 122 112 133 128 Memo: 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 25 248 312 171 248 196 148 165 199 213 Interest on long-term debt 1 65 23 10 13 10 10 8 7 9 Profit remittances on FDI 0 11 23 4 5 9 12 10 8 16 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 645 2,476 2,423 1,959 1,817 2,053 1,999 1,782 1,930 2,157 Exports of goods, serv. & inc. (XGS) .. 650 566 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0 11 14 8 8 8 8 8 8 8 Imports of goods & services (MGS) .. 1,016 803 .. .. .. .. .. .. .. International reserves (RES) 19 132 226 78 53 53 39 80 107 134 Current account balance .. -276 -236 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 132.8 304.7 .. .. .. .. .. .. .. EDT / GNI (%) 4.9 34.9 71.2 77.7 85.7 80.4 83.4 94.6 82.3 83.3 TDS / XGS (%) .. 21.7 17.4 .. .. .. .. .. .. .. INT / XGS (%) .. 12.9 6.3 .. .. .. .. .. .. .. INT / GNI (%) 0.1 3.4 1.5 0.6 0.8 0.6 0.6 0.5 0.4 0.4 RES / EDT (%) 59.2 15.3 13.1 5.2 3.4 3.2 2.4 4.8 6.7 7.5 RES / MGS (months) .. 1.6 3.4 .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 18.5 8.9 2.9 5.9 3.9 4.7 5.0 2.4 1.8 Concessional / EDT (%) 91.6 17.9 48.1 67.1 66.7 69.9 72.4 72.2 77.1 80.2 Multilateral / EDT (%) 13.4 16.5 40.6 57.5 56.5 58.5 59.9 60.4 64.8 67.7 385 NIGER (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 32 687 1,487 1,425 1,404 1,509 1,521 1,527 1,470 1,658 Public and publicly guaranteed 32 383 1,226 1,315 1,308 1,437 1,451 1,459 1,408 1,604 Official 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 42 178 187 195 225 236 229 216 238 Private 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 0 Private 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 54 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 4 66 461 609 625 687 694 723 753 867 DISBURSEMENTS 12 281 139 42 84 85 62 76 78 118 Public and publicly guaranteed 12 167 96 42 84 85 62 76 78 118 Official creditors 12 91 90 42 84 85 62 76 78 118 Multilateral 2 60 69 35 74 68 53 76 73 115 Concessional 2 47 69 35 74 68 53 71 73 115 Bilateral 10 31 21 7 11 17 9 0 5 3 Concessional 10 11 21 6 11 17 9 0 5 3 Private creditors 0 76 5 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 20 0 0 0 0 0 0 0 0 Private nonguaranteed 0 113 43 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 113 43 0 0 0 0 0 0 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 2 18 55 34 50 50 26 68 64 69 PRINCIPAL REPAYMENTS 2 57 47 33 34 36 14 14 20 16 Public and publicly guaranteed 2 23 10 9 20 13 12 12 13 8 Official creditors 1 17 9 9 20 13 12 12 13 8 Multilateral 0 15 7 8 18 10 10 10 12 7 Concessional 0 14 3 7 17 10 10 10 6 6 Bilateral 1 3 2 1 2 3 2 2 2 1 Concessional 1 2 2 0 1 2 1 1 1 1 Private creditors 1 5 2 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 0 0 0 0 Other private 1 4 2 0 0 0 0 0 0 0 Private nonguaranteed 0 35 37 24 14 24 2 2 6 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 35 37 24 14 24 2 2 6 8 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 5 5 7 7 8 2 1 NET FLOWS ON DEBT 11 223 91 10 51 49 48 62 58 102 Public and publicly guaranteed 11 144 85 33 64 73 50 64 65 110 Official 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 2 Private 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 0 Private 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 -8 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 2 18 53 29 45 43 19 60 62 68 386 NIGER (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 1 65 23 10 13 10 10 8 7 9 Public and publicly guaranteed 1 16 7 6 10 9 10 8 6 7 Official creditors 1 7 7 6 10 9 10 8 6 7 Multilateral 0 3 6 5 8 6 6 7 5 7 Concessional 0 2 4 5 7 6 5 7 5 7 Bilateral 1 5 1 1 2 3 4 1 1 0 Concessional 1 1 1 0 1 1 2 0 0 0 Private creditors 0 9 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 6 0 0 0 0 0 0 0 0 Other private 0 2 0 0 0 0 0 0 0 0 Private nonguaranteed 0 49 16 5 3 2 0 0 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 49 16 5 3 2 0 0 1 1 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 4 4 5 4 6 4 5 NET TRANSFERS ON DEBT 10 158 68 -1 38 38 38 54 51 94 Public and publicly guaranteed 10 128 78 28 55 64 40 56 59 103 Official 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 2 Private 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 0 Private 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 -9 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 2 18 51 24 41 38 15 54 57 64 DEBT SERVICE (LTDS) 2 122 71 43 46 47 24 22 27 25 Public and publicly guaranteed 2 39 17 14 30 21 22 20 19 16 Official creditors 2 25 16 14 30 21 22 20 19 16 Multilateral 0 17 12 12 25 16 16 17 17 14 Concessional 0 16 7 12 24 16 15 17 11 13 Bilateral 2 8 3 2 5 5 5 3 2 2 Concessional 1 3 3 0 2 4 2 1 1 2 Private creditors 1 14 2 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 7 0 0 0 0 0 0 0 0 Other private 1 7 2 0 0 0 0 0 0 0 Private nonguaranteed 0 83 53 28 17 25 2 2 8 9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 83 53 28 17 25 2 2 8 9 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 4 9 9 12 11 14 7 6 UNDISBURSED DEBT 41 415 368 333 312 415 288 262 358 315 Official creditors 24 279 368 333 312 415 288 262 358 315 Private creditors 17 136 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 25.4 22.2 Deutsche mark 12.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 67.5 53.8 43.9 32.4 30.2 29.0 26.2 24.5 .. .. Japanese yen 0.0 0.0 1.3 2.1 1.8 1.8 2.0 1.8 1.6 1.4 Pound sterling 0.0 0.0 0.8 1.2 1.4 1.4 1.4 1.2 1.0 1.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 7.0 30.2 27.1 38.5 41.0 42.1 44.6 47.1 50.1 52.0 Multiple currency 0.0 2.1 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights 0.0 0.0 2.6 3.5 3.3 3.2 3.0 3.0 2.9 3.3 All other currencies 13.5 13.9 23.8 22.3 22.3 22.5 22.8 22.4 18.9 20.1 387 NIGER (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 29 63 27 26 29 28 46 85 Debt stock rescheduled .. .. 0 0 0 0 0 18 0 16 Principal rescheduled .. .. 12 21 5 9 3 5 28 49 Official .. .. 12 21 5 9 3 5 28 49 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 16 29 9 8 1 1 18 20 Official .. .. 16 29 9 8 1 1 18 20 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 0 26 4 7 7 0 70 21 Memo: interest forgiven .. .. 0 15 5 0 6 0 43 5 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.2 7.4 1.9 1.0 1.0 0.7 0.9 0.7 1.0 1.3 Maturity (years) 39.7 18.3 31.9 37.5 35.8 38.6 21.4 36.5 38.9 33.7 Grace period (years) 8.3 4.7 9.2 9.2 8.2 9.9 6.9 9.4 9.4 8.2 Grant element (%) 72.5 18.7 65.0 76.1 73.9 78.7 63.9 74.7 76.9 70.0 Official creditors Interest (%) 0.6 5.4 1.9 1.0 1.0 0.7 0.9 0.7 1.0 1.3 Maturity (years) 44.8 26.2 31.9 37.5 35.8 38.6 21.4 36.5 38.9 33.7 Grace period (years) 9.2 6.8 9.2 9.2 8.2 9.9 6.9 9.4 9.4 8.2 Grant element (%) 80.9 35.3 65.0 76.1 73.9 78.7 63.9 74.7 76.9 70.0 Private creditors Interest (%) 4.5 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 13.6 8.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.6 2.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 29.1 -1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 19 341 56 76 79 183 20 64 206 98 Official creditors 16 185 56 76 79 183 20 64 206 98 Private creditors 3 155 0 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 65 59 47 37 31 21 14 9 6 3 Principal 85 78 65 57 62 64 63 64 61 65 Interest 18 22 21 19 19 18 17 16 15 14 Official creditors Disbursements 65 59 47 37 31 21 14 9 6 3 Principal 77 71 58 51 55 57 59 57 61 65 Interest 17 22 20 19 19 18 17 16 15 14 Bilateral creditors Disbursements 2 2 1 1 1 1 0 0 0 0 Principal 38 37 23 14 15 14 12 13 13 15 Interest 7 12 10 9 8 8 7 7 6 6 Multilateral creditors Disbursements 63 57 46 36 30 21 14 9 6 3 Principal 39 34 35 36 40 43 47 44 48 50 Interest 10 10 10 10 10 10 10 9 9 9 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 8 7 7 7 7 7 4 7 0 0 Interest 1 1 1 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 8 7 7 7 7 7 4 7 0 0 Interest 1 1 1 0 0 0 0 0 0 0 388 NIGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 837 8,921 33,439 31,407 28,455 30,294 29,128 31,355 31,042 30,476 Long-term debt (LDOD) 567 5,368 31,935 25,730 22,926 23,730 22,608 30,235 29,399 28,206 Public and publicly guaranteed 452 4,271 31,545 25,430 22,631 23,445 22,358 30,020 29,218 28,057 Private nonguaranteed 115 1,097 391 300 295 285 250 215 181 149 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt 270 3,553 1,504 5,676 5,529 6,564 6,520 1,120 1,643 2,270 of 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 0 Memo: 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 3 Memo: 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 81 Long-term debt 81 1,753 927 308 314 276 175 153 67 81 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 68 242 1,180 1,418 840 773 605 1,091 1,715 1,148 Long-term debt 68 242 1,180 1,418 840 773 605 1,091 1,715 1,148 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 13 2,780 -34 -1,334 -663 -279 -385 -696 -1,497 -1,501 of which short-term debt 0 1,270 219 -224 -137 218 45 241 151 -433 Interest payments (INT) 28 909 2,155 1,091 576 559 458 754 828 342 Long-term debt 28 529 2,123 1,043 543 521 418 690 804 324 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 379 32 48 33 38 41 64 24 18 Net transfers on debt -14 1,872 -2,190 -2,425 -1,239 -838 -843 -1,451 -2,325 -1,842 Total debt service paid (TDS) 96 1,151 3,336 2,509 1,416 1,332 1,063 1,845 2,543 1,490 Long-term debt 96 771 3,304 2,461 1,383 1,294 1,023 1,781 2,519 1,472 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 379 32 48 33 38 41 64 24 18 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 259 774 459 508 1,041 587 622 42 -454 318 Net flow of long-term debt (ex. IMF) 13 1,510 -253 -1,110 -525 -497 -430 -937 -1,648 -1,068 Foreign direct investment (net) 205 -739 588 1,594 1,539 1,051 1,005 930 1,104 1,281 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 40 3 125 24 27 33 48 49 90 104 Memo: 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 -1,806 Interest on long-term debt 28 529 2,123 1,043 543 521 418 690 804 324 Profit remittances on FDI 0 1,593 135 1,598 1,477 1,427 1,621 1,900 1,537 1,800 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 12,081 61,079 25,585 33,068 33,993 29,317 33,300 38,378 38,922 39,712 Exports of goods, serv. & inc. (XGS) .. 27,772 14,771 17,911 18,172 11,762 15,396 25,582 21,923 18,702 Worker remit. & comp. of employees 0 22 10 947 1,920 1,574 1,301 1,301 1,301 1,301 Imports of goods & services (MGS) .. 22,005 9,858 14,403 17,617 16,001 14,881 16,493 16,306 17,866 International reserves (RES) 223 10,640 4,129 4,329 7,781 7,299 5,650 10,099 10,647 7,567 Current account balance .. 5,178 4,988 3,507 552 -4,244 506 9,144 5,748 1,001 4. DEBT INDICATORS EDT / XGS (%) .. 32.1 226.4 175.3 156.6 257.6 189.2 122.6 141.6 163.0 EDT / GNI (%) 6.9 14.6 130.7 95.0 83.7 103.3 87.5 81.7 79.8 76.7 TDS / XGS (%) .. 4.1 22.6 14.0 7.8 11.3 6.9 7.2 11.6 8.0 INT / XGS (%) .. 3.3 14.6 6.1 3.2 4.7 3.0 2.9 3.8 1.8 INT / GNI (%) 0.2 1.5 8.4 3.3 1.7 1.9 1.4 2.0 2.1 0.9 RES / EDT (%) 26.7 119.3 12.3 13.8 27.3 24.1 19.4 32.2 34.3 24.8 RES / MGS (months) .. 5.8 5.0 3.6 5.3 5.5 4.6 7.3 7.8 5.1 Short-term / EDT (%) 32.2 39.8 4.5 18.1 19.4 21.7 22.4 3.6 5.3 7.4 Concessional / EDT (%) 15.6 4.9 1.6 4.3 4.6 5.2 5.9 4.6 4.3 4.8 Multilateral / EDT (%) 21.8 6.4 11.2 14.3 14.1 13.5 12.9 10.5 9.3 9.5 389 NIGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 567 5,368 31,935 25,730 22,926 23,730 22,608 30,235 29,399 28,206 Public and publicly guaranteed 452 4,271 31,545 25,430 22,631 23,445 22,358 30,020 29,218 28,057 Official 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 114 401 485 929 826 919 997 702 601 640 Private 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 1,078 Private 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 1,097 391 300 295 285 250 215 181 149 Memo: 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 81 Public and publicly guaranteed 56 1,187 927 308 314 276 175 153 67 81 Official 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 0 Private 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 0 Private 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 0 Memo: 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 1,148 Public and publicly guaranteed 38 65 1,165 1,408 830 763 570 1,056 1,680 1,116 Official 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 26 Private 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 15 111 142 150 158 Private 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 32 Memo: 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 -1,068 Public and publicly guaranteed 18 1,122 -238 -1,100 -515 -487 -395 -902 -1,614 -1,036 Official 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 -26 Private 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 -158 Private 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 -32 Memo: IBRD 8 38 144 -231 -161 -227 -261 -242 -189 -176 IDA 1 0 6 89 82 134 72 51 1 8 390 NIGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 28 529 2,123 1,043 543 521 418 690 804 324 Public and publicly guaranteed 20 438 2,120 1,025 532 512 404 673 787 313 Official 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 3 Private 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 25 Private 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 11 Memo: 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 -1,391 Public and publicly guaranteed -2 684 -2,358 -2,125 -1,047 -999 -799 -1,575 -2,401 -1,348 Official 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 -29 Private 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 -183 Private 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 -43 Memo: 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 1,472 Public and publicly guaranteed 58 503 3,285 2,433 1,361 1,275 974 1,728 2,467 1,429 Official 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 29 Private 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 23 142 170 177 183 Private 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 43 Memo: 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 1,316 672 473 370 724 716 Official creditors 167 1,112 3,938 2,425 1,316 672 473 370 724 716 Private creditors 18 2,602 1,278 648 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.9 2.2 Deutsche mark 9.0 23.5 14.8 11.1 10.9 11.2 10.1 0.7 .. .. French franc 0.0 0.9 9.0 10.7 10.2 10.5 9.5 1.0 .. .. Japanese yen 0.8 2.0 8.2 12.0 11.9 12.9 15.3 2.3 2.0 2.1 Pound sterling 30.4 2.7 11.8 11.9 13.0 12.6 12.8 1.5 1.5 1.3 Swiss franc 0.3 0.4 0.7 0.5 0.5 0.6 0.5 0.0 0.0 0.1 U.S.dollars 9.9 55.0 38.8 31.5 31.9 31.3 32.3 85.1 86.6 86.2 Multiple currency 38.5 12.1 10.4 10.9 10.5 9.8 9.0 5.4 4.6 4.6 Special drawing rights 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.1 0.1 0.1 All other currencies 11.2 3.4 6.3 11.2 11.0 11.0 10.4 3.8 3.2 3.4 391 NIGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 67.7 Official 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 67.7 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 132 116 88 82 81 71 56 37 31 12 Principal 1,120 1,177 1,339 1,321 1,232 1,330 1,353 1,137 1,234 1,351 Interest 1,535 1,482 1,417 1,344 1,272 1,207 1,136 1,066 1,000 926 Official creditors Disbursements 132 116 88 82 81 71 56 37 31 12 Principal 930 1,003 1,160 1,145 1,060 1,183 1,204 1,100 1,234 1,351 Interest 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 11 Private creditors 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 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 90 392 OMAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 599 2,736 6,120 6,227 6,266 6,839 6,564 6,021 4,639 Long-term debt (LDOD) .. 436 2,400 5,354 5,195 4,868 5,004 5,266 4,755 3,451 Public and publicly guaranteed .. 436 2,400 2,646 2,567 2,235 2,596 2,970 2,687 1,979 Private nonguaranteed .. 0 0 2,708 2,628 2,632 2,408 2,296 2,068 1,471 Use of IMF credit .. 0 0 0 0 0 0 0 0 0 Short-term debt .. 163 335 766 1,032 1,398 1,835 1,299 1,266 1,188 of 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 0 Memo: 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 5 Memo: export credits .. 0 561 987 1,437 191 214 150 155 374 TOTAL DEBT FLOWS Disbursements .. 98 125 1,298 492 442 821 527 700 289 Long-term debt .. 98 125 1,298 492 442 821 527 700 289 IMF purchases .. 0 0 0 0 0 0 0 0 0 Principal repayments .. 179 536 1,151 597 796 696 479 1,310 1,535 Long-term debt .. 179 536 1,151 597 796 696 479 1,310 1,535 IMF repurchases .. 0 0 0 0 0 0 0 0 0 Net flows on debt .. -64 -425 373 161 13 561 -489 -643 -1,323 of which short-term debt .. 17 -14 226 266 367 437 -537 -33 -77 Interest payments (INT) .. 70 203 333 323 357 280 385 356 214 Long-term debt .. 44 177 302 278 295 272 298 297 161 IMF charges .. 0 0 0 0 0 0 0 0 0 Short-term debt .. 26 25 31 45 62 8 87 59 53 Net transfers on debt .. -134 -627 40 -162 -344 281 -874 -1,000 -1,536 Total debt service paid (TDS) .. 249 739 1,484 920 1,153 976 864 1,667 1,748 Long-term debt .. 223 714 1,453 875 1,091 968 777 1,608 1,696 IMF repurchases and charges .. 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) .. 26 25 31 45 62 8 87 59 53 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 174 -212 237 81 -1 172 142 -560 -1,181 Net flow of long-term debt (ex. IMF) .. -81 -411 147 -105 -355 125 48 -610 -1,246 Foreign direct investment (net) .. 98 142 60 65 101 21 70 42 40 Portfolio equity flows .. 0 0 10 86 239 13 -10 -3 -13 Grants (excluding technical coop.) .. 157 57 20 35 13 14 35 11 38 Memo: 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 -1,942 Interest on long-term debt .. 44 177 302 278 295 272 298 297 161 Profit remittances on FDI .. 286 390 507 601 616 567 674 614 600 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 5,725 10,281 14,840 15,449 13,610 15,030 19,157 19,355 19,790 Exports 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 39 Imports 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 3,174 Current 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 23.4 TDS / 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 1.1 RES / EDT (%) .. 117.7 65.2 24.5 26.2 18.3 41.7 37.5 40.6 68.4 RES / 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 25.6 Concessional / EDT (%) .. 43.6 8.9 9.6 8.9 8.9 9.6 13.3 19.1 23.8 Multilateral / EDT (%) .. 5.8 4.7 3.6 3.2 3.2 4.1 7.9 13.4 17.4 393 OMAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 436 2,400 5,354 5,195 4,868 5,004 5,266 4,755 3,451 Public and publicly guaranteed .. 436 2,400 2,646 2,567 2,235 2,596 2,970 2,687 1,979 Official 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 .. 255 194 469 443 437 456 417 399 336 Private 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 .. 87 353 514 440 374 306 168 251 210 Private 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 1,471 Memo: IBRD .. 14 52 19 13 9 6 3 1 0 IDA .. 0 0 0 0 0 0 0 0 0 DISBURSEMENTS .. 98 125 1,298 492 442 821 527 700 289 Public and publicly guaranteed .. 98 125 608 272 45 670 394 486 119 Official 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 85 Private 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 20 Private 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 0 691 220 397 151 133 214 170 Memo: 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 1,535 Public and publicly guaranteed .. 179 536 570 297 404 321 234 643 768 Official 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 43 161 Private 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 62 Private 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 0 581 300 392 375 245 667 766 Memo: 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 -1,246 Public and publicly guaranteed .. -81 -411 37 -25 -359 349 160 -157 -649 Official 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 -76 Private 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 -41 Private 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 -596 Memo: IBRD .. 5 -6 -5 -4 -4 -3 -3 -1 -1 IDA .. 0 0 0 0 0 0 0 0 0 394 OMAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 44 177 302 278 295 272 298 297 161 Public and publicly guaranteed .. 44 177 149 132 156 136 155 152 97 Official creditors .. 14 14 28 31 28 30 32 45 53 Multilateral .. 2 6 10 11 11 12 14 28 41 Concessional .. 0 0 6 6 7 7 10 22 36 Bilateral .. 12 8 18 20 17 18 18 18 12 Concessional .. 1 8 18 20 17 18 18 16 12 Private creditors .. 30 163 121 101 128 106 123 107 44 Bonds .. 0 0 0 0 16 16 16 16 8 Commercial banks .. 3 133 84 64 80 63 86 72 21 Other private .. 28 31 37 37 32 26 21 18 15 Private nonguaranteed .. 0 0 153 146 139 136 143 145 64 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 153 146 139 136 143 145 64 Memo: IBRD .. 1 5 2 1 1 1 0 0 0 IDA .. 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. -125 -589 -155 -383 -649 -147 -250 -907 -1,407 Public and publicly guaranteed .. -125 -589 -112 -157 -515 213 5 -309 -746 Official 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 -88 Private 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 -56 Private 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 -661 Memo: 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 1,696 Public and publicly guaranteed .. 223 714 719 429 560 457 389 796 865 Official 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 59 173 Private 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 76 Private 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 0 734 446 531 511 388 812 831 Memo: 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 1,285 Official creditors .. 176 454 181 151 272 1,031 1,276 916 1,096 Private creditors .. 323 443 49 45 50 260 224 134 190 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 0.0 0.0 Deutsche mark .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc .. 7.5 0.5 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. 0.0 7.3 13.1 11.3 8.1 7.3 5.2 4.6 3.1 Pound sterling .. 8.8 5.5 9.3 8.1 8.0 5.5 1.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 16.8 75.5 61.4 64.1 64.8 67.3 76.7 76.2 70.3 Multiple currency .. 3.1 2.2 0.7 0.5 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. 63.7 9.1 15.5 15.9 19.1 19.9 17.1 19.2 26.6 395 OMAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 25.0 Official 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 27.0 Private 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 14.9 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 428 392 221 110 53 22 8 1 1 0 Principal 1,217 789 625 495 355 234 188 138 129 126 Interest 145 113 92 75 57 49 42 35 29 23 Official creditors Disbursements 317 338 202 104 53 22 8 1 1 0 Principal 144 209 232 226 220 214 177 136 127 123 Interest 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 9 Private creditors Disbursements 111 54 19 6 0 0 0 0 0 0 Principal 1,073 580 394 268 135 20 11 3 3 3 Interest 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 0 396 PAKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 3,407 9,931 20,663 29,829 30,074 32,263 33,891 32,779 31,692 33,672 Long-term debt (LDOD) 3,257 8,520 16,643 25,617 26,312 28,743 30,358 29,731 28,572 30,100 Public and publicly guaranteed 3,252 8,502 16,506 23,622 23,974 26,141 28,136 27,171 26,474 28,102 Private nonguaranteed 5 18 138 1,995 2,338 2,602 2,221 2,560 2,098 1,998 Use of IMF credit 45 674 835 1,396 1,281 1,360 1,704 1,529 1,807 2,032 Short-term debt 104 737 3,185 2,816 2,481 2,159 1,830 1,519 1,314 1,540 of 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 0 Memo: 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 0 Memo: 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 2,315 Long-term debt 571 1,058 1,746 3,443 4,520 2,501 2,048 1,640 2,241 1,972 IMF purchases 0 308 0 156 281 178 611 195 510 343 Principal repayments 178 492 1,071 2,093 2,848 1,441 1,888 1,869 2,134 2,019 Long-term debt 150 352 905 1,772 2,537 1,283 1,652 1,587 1,960 1,751 IMF repurchases 28 139 166 322 311 158 236 282 174 268 Net flows on debt 393 1,170 1,089 1,086 1,618 704 655 -346 411 522 of which short-term debt 0 296 414 -419 -335 -535 -116 -311 -205 226 Interest payments (INT) 81 377 831 1,193 1,235 856 1,047 985 864 825 Long-term debt 81 248 515 910 905 711 954 858 755 731 IMF charges 0 27 52 58 37 35 44 49 52 40 Short-term debt 0 103 264 225 294 110 49 78 57 55 Net transfers on debt 313 793 258 -107 383 -152 -392 -1,331 -453 -303 Total debt service paid (TDS) 259 869 1,902 3,286 4,083 2,297 2,935 2,854 2,998 2,844 Long-term debt 230 600 1,420 2,682 3,441 1,994 2,606 2,444 2,715 2,482 IMF repurchases and charges 28 166 218 379 348 193 280 332 226 307 Short-term debt (interest only) 0 103 264 225 294 110 49 78 57 55 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 498 1,251 1,411 3,078 3,204 1,878 1,191 520 1,410 1,387 Net flow of long-term debt (ex. IMF) 422 706 841 1,671 1,983 1,219 396 53 281 221 Foreign direct investment (net) 23 64 245 922 716 506 532 308 383 823 Portfolio equity flows 0 0 0 285 330 -22 66 35 -130 79 Grants (excluding technical coop.) 53 482 324 200 174 175 197 124 876 264 Memo: 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 81 Interest on long-term debt 81 248 515 910 905 711 954 858 755 731 Profit remittances on FDI 0 6 53 180 283 307 269 429 470 575 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 9,933 23,409 39,044 63,107 61,927 61,661 58,106 59,889 57,690 59,592 Exports of goods, serv. & inc. (XGS) .. 5,366 8,937 11,983 11,830 10,509 10,161 11,312 12,164 15,943 Worker remit. & comp. of employees 0 2,048 2,006 1,284 1,707 1,172 996 1,075 1,461 3,554 Imports of goods & services (MGS) .. 6,707 11,386 17,820 15,775 14,358 13,625 14,484 14,260 14,963 International reserves (RES) 195 1,568 1,046 1,307 1,795 1,626 2,117 2,087 4,218 8,796 Current account balance .. -866 -1,661 -4,436 -1,712 -2,248 -920 -85 1,878 3,871 4. DEBT INDICATORS EDT / XGS (%) .. 185.1 231.2 248.9 254.2 307.0 333.5 289.8 260.5 211.2 EDT / GNI (%) 34.3 42.4 52.9 47.3 48.6 52.3 58.3 54.7 54.9 56.5 TDS / XGS (%) .. 16.2 21.3 27.4 34.5 21.9 28.9 25.2 24.6 17.8 INT / XGS (%) .. 7.0 9.3 10.0 10.4 8.1 10.3 8.7 7.1 5.2 INT / GNI (%) 0.8 1.6 2.1 1.9 2.0 1.4 1.8 1.6 1.5 1.4 RES / EDT (%) 5.7 15.8 5.1 4.4 6.0 5.0 6.2 6.4 13.3 26.1 RES / MGS (months) .. 2.8 1.1 0.9 1.4 1.4 1.9 1.7 3.5 7.1 Short-term / EDT (%) 3.1 7.4 15.4 9.4 8.2 6.7 5.4 4.6 4.1 4.6 Concessional / EDT (%) 68.9 71.6 58.5 53.5 50.0 52.2 54.6 55.0 61.8 64.2 Multilateral / EDT (%) 18.0 15.4 33.4 40.9 39.4 40.7 41.7 41.1 41.2 44.0 397 PAKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 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 30,100 Public and publicly guaranteed 3,252 8,502 16,506 23,622 23,974 26,141 28,136 27,171 26,474 28,102 Official 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 11,692 Private 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 75 Private 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 1,998 Memo: 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 1,972 Public and publicly guaranteed 569 1,049 1,708 2,743 3,842 1,893 1,847 1,523 2,068 1,751 Official 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 76 Private 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 9 Private 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 38 701 678 609 201 117 173 221 Memo: 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 1,751 Public and publicly guaranteed 149 346 866 1,473 2,201 983 1,026 1,142 1,454 1,450 Official 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 0 Private 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 20 Private 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 39 299 335 300 626 445 461 301 Memo: 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 53 281 221 Public and publicly guaranteed 420 704 841 1,269 1,641 910 821 381 614 301 Official 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 76 Private 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 -11 Private 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 -80 Memo: IBRD 44 -10 283 144 284 -67 209 -67 -161 -209 IDA 23 70 116 242 191 171 136 77 531 851 398 PAKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 81 248 515 910 905 711 954 858 755 731 Public and publicly guaranteed 81 246 505 788 760 565 678 641 579 626 Official creditors 65 203 450 694 684 522 545 527 468 541 Multilateral 21 61 247 411 392 342 438 383 361 332 Concessional 2 7 30 61 65 62 78 73 70 82 Bilateral 44 142 204 282 292 181 107 144 107 209 Concessional 31 128 174 210 200 76 46 57 29 167 Private creditors 16 44 54 94 77 43 133 114 110 85 Bonds 0 0 0 17 17 9 54 61 62 58 Commercial banks 0 9 38 31 18 16 69 38 33 19 Other private 16 34 16 46 41 18 10 15 15 8 Private nonguaranteed 0 1 11 122 144 147 276 217 177 105 Bonds 0 0 0 2 2 2 2 2 1 0 Commercial banks and other 0 1 11 120 142 144 274 215 176 105 Memo: IBRD 19 33 126 210 193 182 204 182 159 125 IDA 2 6 15 25 26 26 28 29 28 35 NET TRANSFERS ON DEBT 341 458 326 762 1,079 507 -558 -805 -474 -509 Public and publicly guaranteed 339 457 337 482 881 345 143 -260 35 -325 Official 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 -91 Private 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 -19 Private 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 -185 Memo: 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 2,482 Public and publicly guaranteed 230 592 1,371 2,261 2,962 1,548 1,704 1,783 2,032 2,076 Official 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 35 167 Private 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 28 Private 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 49 419 477 444 900 659 637 406 Memo: 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 3,457 Official creditors 1,396 2,677 8,921 8,698 6,765 6,331 5,120 3,352 3,010 3,182 Private creditors 213 145 231 229 350 217 55 74 411 276 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 12.6 10.6 Deutsche mark 8.7 9.1 10.2 7.4 5.9 5.7 4.8 4.5 .. .. French franc 1.5 3.2 1.8 2.7 2.2 2.2 2.4 2.6 .. .. Japanese yen 5.6 8.4 13.6 14.3 13.0 15.6 17.6 16.9 13.6 23.3 Pound sterling 15.2 3.7 1.5 0.8 0.8 0.8 0.7 0.7 0.5 0.5 Swiss franc 0.6 0.4 0.3 0.3 0.3 0.3 0.2 0.3 0.2 0.3 U.S.dollars 45.6 53.8 35.7 33.7 40.7 38.6 39.4 41.5 41.8 36.0 Multiple currency 16.1 9.6 26.2 33.8 31.1 31.2 30.0 28.1 25.2 24.9 Special drawing rights 0.0 0.0 3.1 3.0 3.0 3.1 3.1 3.1 3.0 3.0 All other currencies 6.5 11.7 7.6 3.9 3.0 2.5 1.8 2.4 3.2 1.4 399 PAKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 56.7 Official 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 56.7 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 1,139 907 539 321 173 120 64 24 7 3 Principal 1,517 1,626 1,605 1,476 1,355 1,360 998 964 898 914 Interest 729 692 636 592 547 498 450 420 392 369 Official creditors Disbursements 986 818 515 313 171 120 64 24 7 3 Principal 856 962 1,019 1,040 991 997 968 949 883 900 Interest 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 306 300 284 271 250 223 199 177 156 138 Private creditors Disbursements 152 89 23 8 3 0 0 0 0 0 Principal 661 664 586 436 365 363 30 15 14 14 Interest 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 3 400 PANAMA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 229 2,973 6,506 6,078 6,031 6,416 6,847 7,046 8,246 8,298 Long-term debt (LDOD) 194 2,269 3,855 5,219 5,427 5,776 6,254 6,491 7,728 7,877 Public and publicly guaranteed 194 2,269 3,855 5,144 5,082 5,427 5,687 5,711 6,332 6,408 Private nonguaranteed 0 0 0 75 344 349 567 780 1,395 1,469 Use of IMF credit 0 23 272 131 142 177 149 90 54 50 Short-term debt 35 681 2,379 728 462 463 444 464 464 371 of 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 0 Memo: 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 1 Memo: 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 1,325 Long-term debt 67 404 6 327 1,743 735 911 725 1,913 1,325 IMF purchases 0 0 0 76 46 41 0 0 0 0 Principal repayments 25 232 121 463 1,239 359 333 463 662 1,155 Long-term debt 24 215 51 411 1,213 346 309 412 628 1,147 IMF repurchases 2 17 70 52 26 13 24 52 33 8 Net flows on debt 42 361 -115 20 283 445 580 282 1,251 78 of which short-term debt 0 189 0 80 -267 29 2 20 0 -93 Interest payments (INT) 7 256 224 431 331 369 408 455 514 522 Long-term debt 7 252 91 385 301 336 376 419 481 510 IMF charges 0 3 16 5 6 7 7 7 4 2 Short-term debt 0 2 117 41 24 27 26 30 30 11 Net transfers on debt 35 105 -339 -410 -48 75 172 -173 737 -444 Total debt service paid (TDS) 32 488 345 894 1,570 729 741 918 1,176 1,677 Long-term debt 30 466 141 796 1,514 682 685 830 1,110 1,656 IMF repurchases and charges 2 20 87 57 32 20 30 58 37 10 Short-term debt (interest only) 0 2 117 41 24 27 26 30 30 11 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 76 414 216 343 1,841 1,695 1,266 927 1,808 244 Net flow of long-term debt (ex. IMF) 44 189 -44 -84 530 389 601 313 1,285 179 Foreign direct investment (net) 33 219 136 416 1,299 1,296 652 603 513 57 Portfolio equity flows 0 0 -1 0 0 0 0 0 0 0 Grants (excluding technical coop.) -1 6 126 11 11 11 12 10 10 8 Memo: 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 -469 Interest on long-term debt 7 252 91 385 301 336 376 419 481 510 Profit remittances on FDI 0 456 196 409 516 712 791 615 548 204 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,034 3,393 5,051 8,836 9,318 10,411 10,635 11,325 11,514 12,079 Exports of goods, serv. & inc. (XGS) .. 7,855 5,595 8,853 9,843 9,883 8,616 9,416 9,427 8,516 Worker remit. & comp. of employees 0 66 110 86 64 58 48 16 21 22 Imports of goods & services (MGS) .. 8,222 5,588 9,172 10,484 11,208 10,091 10,292 9,757 8,860 International reserves (RES) 16 117 344 867 1,148 954 823 723 1,092 1,183 Current account balance .. -329 209 -201 -507 -1,182 -1,320 -716 -154 -154 4. DEBT INDICATORS EDT / XGS (%) .. 37.8 116.3 68.7 61.3 64.9 79.5 74.8 87.5 97.4 EDT / GNI (%) 22.1 87.6 128.8 68.8 64.7 61.6 64.4 62.2 71.6 68.7 TDS / XGS (%) .. 6.2 6.2 10.1 15.9 7.4 8.6 9.8 12.5 19.7 INT / XGS (%) .. 3.3 4.0 4.9 3.4 3.7 4.7 4.8 5.5 6.1 INT / GNI (%) 0.7 7.5 4.4 4.9 3.5 3.5 3.8 4.0 4.5 4.3 RES / EDT (%) 6.9 3.9 5.3 14.3 19.0 14.9 12.0 10.3 13.2 14.3 RES / MGS (months) .. 0.2 0.7 1.1 1.3 1.0 1.0 0.8 1.3 1.6 Short-term / EDT (%) 15.3 22.9 36.6 12.0 7.7 7.2 6.5 6.6 5.6 4.5 Concessional / EDT (%) 34.2 8.9 6.1 6.9 6.8 6.3 5.9 5.1 3.9 4.1 Multilateral / EDT (%) 16.5 10.9 15.7 11.1 12.8 15.3 15.0 14.6 12.8 13.6 401 PANAMA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 194 2,269 3,855 5,219 5,427 5,776 6,254 6,491 7,728 7,877 Public and publicly guaranteed 194 2,269 3,855 5,144 5,082 5,427 5,687 5,711 6,332 6,408 Official 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 49 138 194 290 288 284 281 245 209 227 Private 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 8 Private 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 1,042 Memo: 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 1,325 Public and publicly guaranteed 67 404 6 252 1,469 650 666 487 1,235 1,079 Official 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 23 Private 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 0 Private 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 85 225 238 412 247 Memo: 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 1,147 Public and publicly guaranteed 24 215 51 411 1,209 266 283 387 558 952 Official 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 14 Private 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 2 Private 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 80 Memo: 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 1,285 179 Public and publicly guaranteed 44 189 -44 -159 261 384 383 100 677 127 Official 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 9 Private 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 -2 Private 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 80 198 213 361 167 Memo: IBRD -1 15 -41 37 25 65 9 -2 0 3 IDA 0 0 0 0 0 0 0 0 0 0 402 PANAMA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 7 252 91 385 301 336 376 419 481 510 Public and publicly guaranteed 7 252 91 385 292 300 336 366 421 437 Official creditors 3 35 88 240 66 68 78 79 81 68 Multilateral 1 20 85 39 45 53 66 69 72 62 Concessional 1 3 9 3 3 2 3 4 4 3 Bilateral 1 15 2 202 21 15 13 10 9 6 Concessional 1 4 0 10 13 9 9 8 7 5 Private creditors 4 217 3 144 226 232 258 287 339 369 Bonds 1 40 0 0 163 198 234 264 325 361 Commercial banks 0 168 0 140 59 32 23 21 14 8 Other private 3 9 3 4 3 2 1 1 1 0 Private nonguaranteed 0 0 0 0 9 36 39 53 61 73 Bonds 0 0 0 0 8 30 22 24 31 38 Commercial banks and other 0 0 0 0 1 6 17 29 30 35 Memo: IBRD 0 12 27 12 15 15 19 21 20 18 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 37 -62 -135 -468 230 53 226 -105 804 -331 Public and publicly guaranteed 37 -62 -135 -543 -31 84 47 -266 256 -310 Official 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 4 Private 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 -2 Private 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 74 181 184 331 132 Memo: 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 1,656 Public and publicly guaranteed 30 466 141 796 1,500 566 619 753 979 1,389 Official 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 19 Private 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 2 Private 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 80 115 Memo: IBRD 1 17 68 44 44 41 40 45 46 45 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 96 594 222 575 679 802 832 738 627 576 Official creditors 92 522 214 448 534 701 736 719 613 566 Private creditors 5 73 8 127 146 101 96 19 14 10 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 0.1 0.1 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 .. .. Japanese yen 0.0 9.6 9.8 2.2 2.5 2.1 2.2 1.8 1.3 1.3 Pound sterling 0.0 0.0 0.7 0.3 0.2 0.2 0.1 0.1 0.0 0.0 Swiss franc 0.3 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 94.5 71.1 62.0 85.7 86.1 89.6 90.4 91.8 93.6 94.0 Multiple currency 5.2 11.4 24.6 10.8 10.4 7.1 6.6 5.8 4.7 4.4 Special drawing rights 0.0 0.0 0.5 0.3 0.3 0.5 0.5 0.4 0.3 0.2 All other currencies 0.0 7.8 2.2 0.6 0.4 0.3 0.2 0.1 0.0 0.0 403 PANAMA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 590 56 29 3 0 3 3 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 31.7 Official 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 32.6 Private 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 10.8 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 193 153 103 64 30 14 9 4 4 2 Principal 383 319 315 616 322 964 301 299 1,049 955 Interest 587 522 515 497 479 446 408 396 349 279 Official creditors Disbursements 186 150 102 64 30 14 9 4 4 2 Principal 142 149 153 152 146 142 131 125 121 111 Interest 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 27 Private creditors Disbursements 7 3 0 0 0 0 0 0 0 0 Principal 242 170 162 463 176 822 170 173 928 844 Interest 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 504 441 438 427 416 390 358 354 313 249 404 PAPUA NEW GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 209 719 2,594 2,507 2,590 2,712 2,701 2,596 2,508 2,485 Long-term debt (LDOD) 209 624 2,461 2,423 2,388 2,510 2,582 2,508 2,332 2,306 Public and publicly guaranteed 36 485 1,523 1,545 1,338 1,430 1,523 1,495 1,400 1,488 Private nonguaranteed 173 139 938 878 1,049 1,080 1,059 1,014 932 818 Use of IMF credit 0 31 61 51 48 46 22 39 108 116 Short-term debt 0 64 72 34 154 157 97 49 68 64 of 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 0 Memo: 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 0 Memo: 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 60 Long-term debt 154 135 623 546 525 235 81 254 194 60 IMF purchases 0 15 58 3 0 0 0 38 72 0 Principal repayments 20 78 391 389 425 213 149 216 191 208 Long-term debt 20 72 388 389 425 209 126 197 190 208 IMF repurchases 0 7 3 0 0 4 23 19 1 0 Net flows on debt 134 108 197 116 220 25 -127 29 94 -153 of which short-term debt 0 36 -93 -44 120 3 -59 -48 19 -5 Interest payments (INT) 10 72 162 100 107 98 64 90 78 69 Long-term debt 10 52 156 97 100 88 56 85 73 65 IMF charges 0 1 0 2 2 2 1 1 3 3 Short-term debt 0 19 6 1 4 8 7 4 2 1 Net transfers on debt 124 36 35 16 114 -74 -191 -61 15 -222 Total debt service paid (TDS) 30 150 553 489 532 312 213 306 270 277 Long-term debt 30 123 544 486 525 298 182 282 264 273 IMF repurchases and charges 0 7 3 2 2 6 24 20 4 3 Short-term debt (interest only) 0 19 6 1 4 8 7 4 2 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 278 418 694 463 316 344 347 252 137 0 Net flow of long-term debt (ex. IMF) 134 64 235 157 100 26 -45 58 4 -148 Foreign direct investment (net) 0 76 155 111 29 110 297 96 63 50 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 144 279 304 195 187 208 95 98 70 99 Memo: 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 -274 Interest on long-term debt 10 52 156 97 100 88 56 85 73 65 Profit remittances on FDI 0 204 158 370 248 176 239 198 206 210 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 626 2,486 3,098 4,984 4,697 3,591 3,261 3,288 2,805 2,712 Exports 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 0 Imports of goods & services (MGS) .. 1,561 1,719 2,753 2,752 2,152 2,090 2,013 1,845 .. International reserves (RES) .. 458 427 607 381 211 223 304 440 343 Current 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 91.6 TDS / 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 2.5 RES / EDT (%) .. 63.7 16.5 24.2 14.7 7.8 8.3 11.7 17.5 13.8 RES / 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 2.6 Concessional / EDT (%) 0.5 11.9 21.5 32.8 29.7 31.6 36.5 34.9 31.5 34.3 Multilateral / EDT (%) 0.8 21.2 29.5 34.4 31.0 31.7 34.3 33.4 34.1 36.3 405 PAPUA NEW GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 209 624 2,461 2,423 2,388 2,510 2,582 2,508 2,332 2,306 Public and publicly guaranteed 36 485 1,523 1,545 1,338 1,430 1,523 1,495 1,400 1,488 Official 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 7 199 396 374 435 496 465 402 422 Private 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 0 Private 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 1,014 932 818 Memo: IBRD 1 55 235 270 269 267 241 244 275 272 IDA 1 55 115 105 101 100 97 92 88 87 DISBURSEMENTS 154 135 623 546 525 235 81 254 194 60 Public and publicly guaranteed 43 120 280 161 140 101 79 219 184 60 Official creditors 5 40 234 133 120 100 76 206 154 34 Multilateral 1 36 180 33 72 44 46 67 111 27 Concessional 1 20 74 7 11 10 7 6 2 6 Bilateral 4 4 54 100 47 56 30 139 43 7 Concessional 0 4 28 100 46 33 30 56 42 4 Private creditors 37 80 45 27 20 1 3 13 30 27 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 37 75 20 27 20 1 3 13 30 27 Other private 0 5 25 0 0 0 0 0 0 0 Private nonguaranteed 111 15 343 385 386 134 2 35 10 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 111 15 343 385 386 134 2 35 10 0 Memo: IBRD 1 2 64 21 48 14 8 43 66 9 IDA 1 13 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 20 72 388 389 425 209 126 197 190 208 Public and publicly guaranteed 0 32 184 174 208 116 109 116 98 94 Official creditors 0 6 48 92 125 97 92 97 90 86 Multilateral 0 3 35 49 47 48 55 54 51 50 Concessional 0 1 15 7 6 6 8 10 10 12 Bilateral 0 3 13 43 77 50 37 44 39 36 Concessional 0 1 2 13 24 17 20 33 36 22 Private creditors 0 25 136 82 83 19 17 19 9 8 Bonds 0 8 0 0 0 0 0 0 0 0 Commercial banks 0 17 129 64 73 9 10 10 7 7 Other private 0 0 7 18 10 10 7 9 2 2 Private nonguaranteed 20 40 204 215 217 93 16 80 92 114 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 20 40 204 215 217 93 16 80 92 114 Memo: IBRD 0 2 14 30 28 29 31 29 25 24 IDA 0 0 1 2 2 2 3 3 3 3 NET FLOWS ON DEBT 134 64 235 157 100 26 -45 58 4 -148 Public and publicly guaranteed 43 89 96 -13 -68 -15 -31 103 86 -34 Official 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 -18 Private 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 -2 Private 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 -114 Memo: IBRD 1 0 50 -9 20 -15 -23 15 40 -14 IDA 1 12 -1 -2 -2 -2 -3 -3 -3 -3 406 PAPUA NEW GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 10 52 156 97 100 88 56 85 73 65 Public and publicly guaranteed 1 30 86 73 64 54 53 55 48 47 Official creditors 0 7 40 56 53 47 47 50 46 44 Multilateral 0 6 27 37 34 32 32 32 28 26 Concessional 0 1 3 4 4 4 5 5 4 4 Bilateral 0 2 13 19 20 15 14 18 18 18 Concessional 0 0 5 11 12 11 12 16 12 12 Private creditors 1 23 46 17 10 7 6 5 3 4 Bonds 0 7 3 0 0 0 0 0 0 0 Commercial banks 1 15 36 11 7 5 5 3 3 4 Other private 0 0 8 7 3 2 1 1 0 0 Private nonguaranteed 8 22 70 23 37 35 3 31 25 17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 22 70 23 37 35 3 31 25 17 Memo: IBRD 0 4 14 20 18 16 15 15 13 11 IDA 0 0 1 1 1 1 1 1 1 1 NET TRANSFERS ON DEBT 124 12 79 60 0 -62 -101 -27 -69 -213 Public and publicly guaranteed 41 59 10 -87 -132 -69 -83 49 37 -82 Official 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 -30 Private 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 -2 Private 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 -131 Memo: IBRD 1 -4 35 -29 1 -32 -38 -1 27 -25 IDA 1 12 -2 -3 -3 -3 -3 -3 -4 -4 DEBT SERVICE (LTDS) 30 123 544 486 525 298 182 282 264 273 Public and publicly guaranteed 1 61 270 247 272 170 162 171 147 142 Official creditors 0 14 88 148 178 144 139 147 135 130 Multilateral 0 9 62 87 81 79 88 86 79 76 Concessional 0 2 18 11 10 11 12 14 14 16 Bilateral 0 5 26 62 97 65 51 62 56 54 Concessional 0 1 7 24 35 28 31 49 48 34 Private creditors 1 48 182 99 94 26 23 23 12 12 Bonds 0 15 3 0 0 0 0 0 0 0 Commercial banks 1 32 165 75 80 13 15 13 9 11 Other private 0 1 15 24 13 12 8 10 2 2 Private nonguaranteed 29 62 274 238 254 128 20 111 117 131 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 29 62 274 238 254 128 20 111 117 131 Memo: IBRD 0 6 28 50 47 45 46 44 39 34 IDA 0 0 2 3 3 3 3 3 4 4 UNDISBURSED DEBT 41 181 527 518 404 266 318 378 353 344 Official creditors 41 151 476 489 398 261 315 356 307 321 Private creditors 0 30 51 29 6 5 3 22 46 23 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.8 3.2 Deutsche mark 0.0 5.2 1.8 1.5 1.4 1.3 0.9 0.8 .. .. French franc 0.0 0.0 0.2 0.1 0.1 0.1 0.1 0.0 .. .. Japanese yen 0.0 4.4 20.4 25.2 26.5 28.5 30.9 29.3 27.0 28.5 Pound sterling 0.0 2.7 2.1 0.9 1.4 1.2 1.0 0.8 0.0 0.0 Swiss franc 0.0 5.8 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 2.7 35.0 27.3 18.6 19.2 19.7 18.4 20.7 26.3 25.3 Multiple currency 2.1 27.4 37.9 44.8 46.1 45.1 45.1 39.1 34.9 34.7 Special drawing rights 0.0 0.0 0.3 0.5 0.5 0.6 0.6 0.6 0.4 0.5 All other currencies 95.2 19.6 8.4 8.4 4.9 3.4 3.1 8.7 8.5 7.9 407 PAPUA NEW GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 9 0 0 0 0 0 1 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.4 11.2 6.0 1.8 5.6 6.3 5.7 6.5 3.8 2.0 Maturity (years) 21.7 17.7 16.0 28.8 27.5 15.6 25.5 16.0 16.0 23.5 Grace period (years) 8.1 4.8 4.6 8.6 6.2 3.6 5.7 4.8 4.2 6.3 Grant element (%) 25.4 1.1 22.7 59.6 32.9 20.6 31.4 20.4 35.5 57.2 Official creditors Interest (%) 5.4 5.8 5.7 1.8 5.6 6.3 5.7 6.5 4.7 2.0 Maturity (years) 20.9 29.1 17.3 28.8 27.5 15.6 25.5 17.3 18.3 23.5 Grace period (years) 5.2 6.9 4.9 8.6 6.2 3.6 5.7 5.1 4.7 6.3 Grant element (%) 30.5 34.9 24.5 59.6 32.9 20.6 31.4 21.5 33.8 57.2 Private creditors Interest (%) 7.7 15.5 7.2 0.0 0.0 0.0 0.0 6.2 2.1 0.0 Maturity (years) 22.9 8.8 9.5 0.0 0.0 0.0 0.0 5.3 11.3 0.0 Grace period (years) 12.2 3.1 3.2 0.0 0.0 0.0 0.0 2.5 3.1 0.0 Grant element (%) 18.0 -25.1 13.4 0.0 0.0 0.0 0.0 10.9 38.7 0.0 Memorandum items Commitments 90 183 247 71 64 5 132 319 181 55 Official creditors 53 80 207 71 64 5 132 285 121 55 Private creditors 37 103 41 0 0 0 0 34 59 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 100 86 64 39 25 12 8 5 3 1 Principal 221 215 205 187 182 185 185 183 184 80 Interest 119 106 97 86 75 63 50 38 26 19 Official creditors Disbursements 84 79 64 39 25 12 8 5 3 1 Principal 107 107 97 88 86 89 89 87 88 75 Interest 39 35 37 36 33 30 27 24 21 19 Bilateral creditors Disbursements 9 5 2 1 0 0 0 0 0 0 Principal 54 55 42 30 29 28 28 27 28 21 Interest 16 14 11 10 9 8 8 7 6 5 Multilateral creditors Disbursements 75 74 62 38 25 12 8 5 3 1 Principal 53 53 55 57 56 60 60 59 60 53 Interest 22 22 25 25 24 22 20 17 15 14 Private creditors Disbursements 16 7 0 0 0 0 0 0 0 0 Principal 114 108 108 99 96 96 96 96 96 6 Interest 81 71 61 51 42 32 23 14 5 0 Commercial banks Disbursements 16 7 0 0 0 0 0 0 0 0 Principal 23 17 17 8 6 6 6 6 6 6 Interest 4 2 2 1 1 1 1 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 91 91 91 91 91 91 91 91 91 0 Interest 77 68 59 50 41 32 23 14 5 0 408 PARAGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 112 955 2,105 2,565 2,461 2,793 3,393 3,099 2,821 2,967 Long-term debt (LDOD) 112 780 1,732 1,823 1,946 2,125 2,641 2,519 2,359 2,481 Public and publicly guaranteed 112 630 1,713 1,415 1,464 1,591 2,083 2,069 1,999 2,064 Private nonguaranteed 0 151 19 408 482 534 558 450 360 417 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 174 373 742 515 668 751 580 462 486 of which interest arrears on LDOD 0 0 115 10 10 9 10 11 13 19 Official creditors 0 0 29 6 6 6 4 5 6 10 Private creditors 0 0 86 4 4 4 6 6 7 9 Memo: principal arrears on LDOD 2 2 321 53 62 68 65 64 57 67 Official creditors 0 0 61 14 24 30 30 30 22 32 Private creditors 2 1 259 39 37 38 35 34 34 35 Memo: export credits 0 0 501 125 131 64 50 32 26 37 TOTAL DEBT FLOWS Disbursements 14 206 77 246 408 283 616 192 124 268 Long-term debt 14 206 77 246 408 283 616 192 124 268 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 7 79 235 127 179 142 122 204 212 219 Long-term debt 7 79 235 127 179 142 122 204 212 219 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 7 156 -83 75 1 295 577 -185 -207 67 of which short-term debt 0 29 75 -43 -228 154 82 -173 -120 18 Interest payments (INT) 3 66 90 120 113 118 127 148 146 108 Long-term debt 3 44 77 73 76 84 87 116 128 100 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 22 13 47 37 34 41 33 18 8 Net transfers on debt 4 90 -173 -45 -112 178 450 -333 -354 -41 Total debt service paid (TDS) 11 145 325 247 292 260 249 353 358 327 Long-term debt 11 124 312 200 255 226 208 320 340 319 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 22 13 47 37 34 41 33 18 8 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 12 168 -74 289 487 505 622 132 27 45 Net flow of long-term debt (ex. IMF) 7 127 -158 119 229 141 495 -13 -88 49 Foreign direct investment (net) 4 32 77 149 236 342 95 119 95 -22 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 1 10 7 21 23 22 33 26 20 19 Memo: 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 -51 Interest on long-term debt 3 44 77 73 76 84 87 116 128 100 Profit remittances on FDI 0 54 17 78 150 178 105 84 91 -4 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 585 4,621 5,381 9,738 9,645 8,604 7,759 7,775 6,808 5,490 Exports of goods, serv. & inc. (XGS) .. 693 2,631 4,815 4,402 4,583 3,248 3,244 2,870 3,124 Worker remit. & comp. of employees 0 52 34 297 299 286 268 265 264 206 Imports of goods & services (MGS) .. 973 2,284 5,213 5,092 4,778 3,441 3,560 3,141 2,847 International reserves (RES) 18 783 675 1,062 846 875 988 772 723 641 Current account balance .. -277 390 -353 -650 -160 -165 -291 -245 294 4. DEBT INDICATORS EDT / XGS (%) .. 137.8 80.0 53.3 55.9 60.9 104.4 95.5 98.3 95.0 EDT / GNI (%) 19.2 20.7 39.1 26.3 25.5 32.5 43.7 39.9 41.4 54.0 TDS / XGS (%) .. 21.0 12.4 5.1 6.6 5.7 7.7 10.9 12.5 10.5 INT / XGS (%) .. 9.5 3.4 2.5 2.6 2.6 3.9 4.6 5.1 3.5 INT / GNI (%) 0.6 1.4 1.7 1.2 1.2 1.4 1.6 1.9 2.1 2.0 RES / EDT (%) 15.7 82.0 32.1 41.4 34.4 31.3 29.1 24.9 25.6 21.6 RES / MGS (months) .. 9.7 3.5 2.4 2.0 2.2 3.4 2.6 2.8 2.7 Short-term / EDT (%) 0.0 18.3 17.7 28.9 20.9 23.9 22.1 18.7 16.4 16.4 Concessional / EDT (%) 57.3 30.6 26.3 31.7 34.1 32.3 27.8 27.9 28.0 27.6 Multilateral / EDT (%) 40.1 20.2 34.8 31.8 36.0 35.2 32.0 36.8 40.2 39.0 409 PARAGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 112 780 1,732 1,823 1,946 2,125 2,641 2,519 2,359 2,481 Public and publicly guaranteed 112 630 1,713 1,415 1,464 1,591 2,083 2,069 1,999 2,064 Official 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 29 195 325 458 452 496 511 455 398 442 Private 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 26 Private 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 19 408 482 534 558 450 360 417 Memo: IBRD 6 80 279 138 143 165 182 201 205 216 IDA 18 45 41 34 33 31 30 28 27 25 DISBURSEMENTS 14 206 77 246 408 283 616 192 124 268 Public and publicly guaranteed 14 158 77 169 259 164 568 192 124 97 Official creditors 7 55 50 169 248 164 168 192 116 97 Multilateral 4 40 31 136 167 131 153 166 92 61 Concessional 2 8 7 33 48 27 18 11 2 1 Bilateral 3 15 19 33 82 34 15 26 24 35 Concessional 3 11 18 33 73 34 15 26 24 35 Private creditors 7 103 27 0 10 0 400 0 8 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 33 2 0 0 0 400 0 0 0 Other private 5 69 25 0 10 0 0 0 8 0 Private nonguaranteed 0 48 0 77 149 119 48 0 0 171 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 48 0 77 149 119 48 0 0 171 Memo: IBRD 2 30 16 27 41 37 42 47 27 14 IDA 2 3 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 7 79 235 127 179 142 122 204 212 219 Public and publicly guaranteed 7 43 226 127 119 107 116 111 122 110 Official creditors 3 17 198 104 104 93 104 104 115 104 Multilateral 1 4 62 67 60 59 66 61 69 75 Concessional 0 1 6 9 8 9 10 15 19 19 Bilateral 2 13 137 37 44 34 37 43 46 28 Concessional 1 9 20 26 36 30 31 38 39 28 Private creditors 4 27 27 23 16 14 12 7 6 6 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 17 10 5 6 4 4 4 3 3 Other private 3 10 18 18 10 10 8 3 3 3 Private nonguaranteed 0 36 9 0 60 35 6 93 90 109 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 36 9 0 60 35 6 93 90 109 Memo: IBRD 0 1 40 34 26 23 23 19 14 15 IDA 0 0 1 1 1 1 1 1 1 1 NET FLOWS ON DEBT 7 127 -158 119 229 141 495 -13 -88 49 Public and publicly guaranteed 7 114 -149 42 139 57 453 80 2 -13 Official 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 7 Private 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 -3 Private 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 62 Memo: IBRD 1 29 -24 -6 15 15 19 28 13 -2 IDA 2 3 -1 -1 -1 -1 -1 -1 -1 -1 410 PARAGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 3 44 77 73 76 84 87 116 128 100 Public and publicly guaranteed 3 35 77 61 63 70 70 100 105 78 Official creditors 3 17 57 57 60 66 67 70 74 61 Multilateral 1 10 47 38 40 47 50 52 58 52 Concessional 1 1 4 6 6 8 9 8 9 7 Bilateral 1 7 10 19 19 19 17 18 17 9 Concessional 1 5 10 15 17 17 14 17 16 9 Private creditors 1 18 20 4 3 4 3 30 31 17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 12 2 2 2 2 2 29 30 16 Other private 1 7 18 2 1 2 1 1 1 1 Private nonguaranteed 0 9 0 12 13 14 17 16 23 22 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 9 0 12 13 14 17 16 23 22 Memo: IBRD 0 6 25 11 10 11 9 11 11 10 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 4 82 -235 46 153 57 408 -128 -215 -51 Public and publicly guaranteed 4 79 -226 -19 76 -12 383 -19 -102 -90 Official 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 -1 Private 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 -3 Private 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 40 Memo: IBRD 1 23 -49 -18 5 4 10 17 2 -12 IDA 2 2 -1 -2 -2 -2 -2 -2 -2 -2 DEBT SERVICE (LTDS) 11 124 312 200 255 226 208 320 340 319 Public and publicly guaranteed 11 79 303 188 182 177 185 211 226 187 Official creditors 6 34 256 161 163 159 171 174 190 165 Multilateral 2 14 109 105 100 106 117 113 127 128 Concessional 1 3 9 15 15 17 18 23 28 26 Bilateral 4 20 147 56 63 53 54 61 63 37 Concessional 2 15 30 41 53 47 45 56 55 37 Private creditors 5 45 47 27 19 17 14 37 37 23 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 29 12 7 8 6 5 33 34 20 Other private 4 16 35 20 11 12 9 4 3 3 Private nonguaranteed 0 45 9 12 72 49 23 109 113 131 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 45 9 12 72 49 23 109 113 131 Memo: IBRD 0 7 65 45 36 33 32 29 25 26 IDA 0 1 1 2 2 2 2 2 2 2 UNDISBURSED DEBT 46 567 563 1,041 1,009 913 762 662 661 573 Official creditors 41 423 455 1,040 1,009 913 762 662 652 564 Private creditors 5 144 107 1 0 0 0 0 9 9 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 3.1 3.3 Deutsche mark 11.4 9.4 11.4 6.7 6.2 5.4 3.2 2.6 .. .. French franc 0.0 0.3 10.5 2.4 1.8 1.6 0.9 0.8 .. .. Japanese yen 0.0 5.0 15.6 21.4 19.6 20.2 16.7 15.0 13.5 14.3 Pound sterling 0.2 0.6 2.0 0.3 0.3 0.2 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.1 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 U.S.dollars 66.4 56.2 17.2 34.9 41.8 44.5 57.1 60.2 62.7 63.1 Multiple currency 19.6 22.9 37.8 31.8 28.3 26.2 20.8 20.2 19.9 18.5 Special drawing rights 0.0 0.0 0.8 1.4 1.3 1.1 0.7 0.8 0.6 0.5 All other currencies 2.2 5.6 4.2 0.9 0.7 0.6 0.3 0.3 0.0 0.0 411 PARAGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 15 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 436 0 0 0 0 0 0 0 of which debt buyback .. .. 111 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 44.6 Official 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 44.6 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 173 138 100 67 42 28 14 4 2 1 Principal 249 246 264 269 247 240 166 161 150 137 Interest 112 104 95 85 74 63 52 45 38 32 Official creditors Disbursements 167 136 99 67 42 28 14 4 2 1 Principal 172 162 158 165 151 145 140 135 124 112 Interest 77 73 69 64 58 52 45 39 33 27 Bilateral creditors Disbursements 36 20 11 5 1 1 0 0 0 0 Principal 45 44 44 37 39 32 31 28 23 23 Interest 14 14 12 11 10 9 7 6 5 5 Multilateral creditors Disbursements 130 116 87 62 41 27 14 4 2 1 Principal 127 117 115 127 113 113 109 107 101 89 Interest 62 60 57 53 48 43 38 32 27 22 Private creditors Disbursements 6 2 1 0 0 0 0 0 0 0 Principal 77 84 105 104 95 95 26 26 26 26 Interest 35 31 26 21 16 11 7 6 5 5 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 6 14 26 26 26 26 26 26 26 26 Interest 10 10 9 8 8 7 7 6 5 5 Other private Disbursements 6 2 1 0 0 0 0 0 0 0 Principal 71 70 79 78 70 69 0 0 0 0 Interest 26 22 17 13 8 4 0 0 0 0 412 PERU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 3,211 9,386 20,064 28,988 29,687 30,542 29,217 28,710 27,645 28,167 Long-term debt (LDOD) 2,655 6,828 13,959 21,601 22,120 23,356 23,882 24,193 24,212 25,596 Public and publicly guaranteed 856 6,218 13,629 20,223 19,225 19,320 19,503 19,255 18,956 20,477 Private nonguaranteed 1,799 610 330 1,378 2,896 4,037 4,378 4,938 5,256 5,118 Use of IMF credit 10 474 755 924 1,011 905 735 558 387 236 Short-term debt 546 2,084 5,350 6,463 6,556 6,281 4,601 3,959 3,047 2,335 of 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 39 Memo: 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 26 Memo: 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 3,007 Long-term debt 387 1,307 289 523 3,121 1,657 1,451 2,065 1,719 3,007 IMF purchases 18 145 0 0 221 0 0 0 0 0 Principal repayments 360 1,187 229 1,227 2,053 791 1,075 1,129 834 2,134 Long-term debt 333 1,019 166 1,227 1,980 646 929 987 681 1,961 IMF repurchases 27 168 63 0 74 145 146 141 153 173 Net flows on debt 45 775 126 459 1,522 616 -1,294 299 -37 155 of which short-term debt 0 510 66 1,164 233 -250 -1,670 -638 -922 -718 Interest payments (INT) 162 964 247 1,705 1,406 1,381 1,467 1,431 1,356 1,222 Long-term debt 162 670 91 1,308 982 975 1,149 1,171 1,153 1,144 IMF charges 0 35 74 41 47 45 33 33 23 10 Short-term debt 0 259 82 356 376 362 285 227 180 68 Net transfers on debt -117 -189 -121 -1,246 116 -765 -2,760 -1,133 -1,393 -1,068 Total debt service paid (TDS) 522 2,151 476 2,932 3,459 2,172 2,542 2,560 2,190 3,356 Long-term debt 495 1,689 257 2,535 2,962 1,620 2,078 2,158 1,833 3,105 IMF repurchases and charges 27 202 137 41 121 190 179 174 176 183 Short-term debt (interest only) 0 259 82 356 376 362 285 227 180 68 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 2 347 344 3,299 3,662 2,549 2,505 2,170 2,427 3,592 Net flow of long-term debt (ex. IMF) 54 289 123 -704 1,141 1,011 523 1,078 1,038 1,046 Foreign direct investment (net) -70 27 41 3,471 2,139 1,644 1,940 810 1,144 2,391 Portfolio equity flows 0 0 0 294 156 -346 -107 123 43 -9 Grants (excluding technical coop.) 18 31 180 238 225 240 149 159 202 164 Memo: 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 1,954 Interest on long-term debt 162 670 91 1,308 982 975 1,149 1,171 1,153 1,144 Profit remittances on FDI 0 256 15 676 925 222 19 344 131 494 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 7,119 19,700 25,509 54,374 57,852 55,342 50,016 51,636 52,516 55,008 Exports of goods, serv. & inc. (XGS) .. 4,832 4,402 8,498 9,733 8,964 9,006 10,009 9,917 10,234 Worker remit. & comp. of employees 0 0 87 597 636 647 670 718 753 705 Imports of goods & services (MGS) .. 5,080 6,015 12,463 13,445 12,685 10,820 11,848 11,389 11,778 International reserves (RES) 339 2,804 1,891 10,990 11,306 9,882 9,050 8,676 8,980 9,721 Current account balance .. -101 -1,419 -3,648 -3,428 -3,390 -1,518 -1,557 -1,184 -1,206 4. DEBT INDICATORS EDT / XGS (%) .. 194.2 455.8 341.1 305.0 340.7 324.4 286.8 278.8 275.2 EDT / GNI (%) 45.1 47.6 78.7 53.3 51.3 55.2 58.4 55.6 52.6 51.2 TDS / XGS (%) .. 44.5 10.8 34.5 35.5 24.2 28.2 25.6 22.1 32.8 INT / XGS (%) .. 19.9 5.6 20.1 14.4 15.4 16.3 14.3 13.7 11.9 INT / GNI (%) 2.3 4.9 1.0 3.1 2.4 2.5 2.9 2.8 2.6 2.2 RES / EDT (%) 10.5 29.9 9.4 37.9 38.1 32.4 31.0 30.2 32.5 34.5 RES / MGS (months) .. 6.6 3.8 10.6 10.1 9.3 10.0 8.8 9.5 9.9 Short-term / EDT (%) 17.0 22.2 26.7 22.3 22.1 20.6 15.7 13.8 11.0 8.3 Concessional / EDT (%) 3.5 14.4 9.3 18.8 17.6 12.0 13.2 13.7 13.4 14.3 Multilateral / EDT (%) 4.6 5.5 11.0 12.3 14.3 15.2 18.2 19.3 22.8 24.2 413 PERU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 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 25,596 Public and publicly guaranteed 856 6,218 13,629 20,223 19,225 19,320 19,503 19,255 18,956 20,477 Official 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 3,939 Private 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 1,004 318 299 Private 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 4,968 Memo: 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 3,007 Public and publicly guaranteed 148 1,247 289 373 1,517 639 1,090 1,488 1,385 2,933 Official 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 74 162 558 170 171 Private 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 0 Private 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 74 Memo: 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 1,961 Public and publicly guaranteed 100 959 112 1,167 1,894 619 909 970 665 1,944 Official 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 99 152 169 Private 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 20 Private 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 17 Memo: 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 1,046 Public and publicly guaranteed 48 289 177 -794 -376 20 181 518 720 989 Official 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 2 Private 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 -20 Private 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 57 Memo: IBRD 2 125 0 29 425 207 291 173 35 -17 IDA 0 0 0 0 0 0 0 0 0 0 414 PERU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 162 670 91 1,308 982 975 1,149 1,171 1,153 1,144 Public and publicly guaranteed 43 547 66 1,218 927 923 1,085 1,102 1,075 1,075 Official 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 75 163 140 155 141 137 Private 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 25 Private 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 59 Memo: 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 -98 Public and publicly guaranteed 4 -258 111 -2,013 -1,303 -902 -904 -584 -355 -85 Official 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 -135 Private 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 -45 Private 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 -2 Memo: 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 3,105 Public and publicly guaranteed 144 1,506 178 2,385 2,820 1,542 1,994 2,072 1,740 3,018 Official 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 13 117 164 258 293 254 293 306 Private 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 45 Private 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 76 Memo: 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 2,620 Official creditors 166 1,126 863 3,049 2,687 2,147 3,920 3,205 2,606 2,620 Private creditors 72 1,272 646 8 1 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.9 6.3 Deutsche mark 13.9 6.5 5.0 3.5 3.2 2.1 1.7 1.5 .. .. French franc 1.1 4.2 9.3 8.7 8.1 3.1 2.6 2.3 .. .. Japanese yen 0.0 10.9 6.3 11.5 11.6 10.5 12.5 13.9 12.9 13.4 Pound sterling 0.9 2.0 0.9 1.2 1.3 0.6 0.5 0.4 0.4 0.4 Swiss franc 0.1 1.4 1.5 0.9 0.6 0.6 0.5 0.5 0.4 0.4 U.S.dollars 59.0 44.1 48.0 50.2 54.2 74.0 73.8 73.6 75.3 74.9 Multiple currency 17.0 7.5 15.2 12.0 12.1 5.2 5.4 5.0 4.7 4.3 Special drawing rights 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 All other currencies 8.0 23.5 13.7 11.9 8.7 3.7 3.1 2.7 0.3 0.3 415 PERU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 32 3 116 26 0 0 8 Memo: interest forgiven .. .. 0 758 1 1 1 0 0 1 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 11.8 Official 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 29.6 Private 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 3.7 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 899 737 454 269 148 70 29 6 3 2 Principal 1,597 1,767 1,835 1,904 2,025 2,730 2,135 2,056 2,112 3,003 Interest 1,375 1,331 1,268 1,197 1,157 1,106 947 840 738 576 Official creditors Disbursements 899 737 454 269 148 70 29 6 3 2 Principal 972 1,123 1,169 1,239 1,338 1,392 1,442 1,353 1,363 1,364 Interest 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 360 344 321 296 269 238 206 174 142 112 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 624 644 665 665 688 1,338 693 704 749 1,639 Interest 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 529 517 497 477 496 511 425 393 364 276 416 PHILIPPINES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2,196 17,417 30,580 44,022 50,727 53,509 58,044 57,429 57,822 59,342 Long-term debt (LDOD) 1,544 8,817 25,241 35,647 38,078 44,755 50,477 49,449 49,821 52,098 Public and publicly guaranteed 625 6,363 24,040 27,093 26,416 28,902 34,800 30,407 29,416 32,967 Private nonguaranteed 919 2,454 1,201 8,554 11,662 15,853 15,677 19,042 20,405 19,131 Use of IMF credit 69 1,044 912 405 855 1,568 1,822 2,032 1,952 1,686 Short-term debt 583 7,556 4,427 7,969 11,794 7,185 5,745 5,948 6,049 5,558 of 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 0 Memo: 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 1 Memo: 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 7,811 Long-term debt 418 1,854 2,516 5,021 5,369 3,255 8,234 4,296 8,462 7,811 IMF purchases 28 446 0 0 700 730 346 313 0 0 Principal repayments 264 686 1,818 3,192 2,340 2,443 4,004 4,057 5,830 6,220 Long-term debt 261 541 1,473 2,890 2,124 2,364 3,950 4,049 5,822 5,815 IMF repurchases 3 145 345 301 216 79 54 8 8 405 Net flows on debt 182 3,855 1,123 4,520 7,553 -3,066 3,136 755 2,733 1,099 of which short-term debt 0 2,241 425 2,690 3,825 -4,609 -1,440 203 101 -491 Interest payments (INT) 44 1,496 1,772 2,180 2,215 2,300 2,438 2,737 3,206 2,972 Long-term debt 44 579 1,573 1,674 1,716 1,964 2,050 2,409 2,900 2,809 IMF charges 0 42 99 27 24 49 65 94 92 54 Short-term debt 0 875 100 478 474 287 323 234 214 108 Net transfers on debt 138 2,358 -649 2,340 5,339 -5,365 698 -1,982 -474 -1,872 Total debt service paid (TDS) 308 2,182 3,590 5,371 4,555 4,742 6,442 6,794 9,036 9,192 Long-term debt 305 1,120 3,046 4,564 3,840 4,327 6,000 6,458 8,722 8,624 IMF repurchases and charges 3 187 444 329 240 127 119 102 100 459 Short-term debt (interest only) 0 875 100 478 474 287 323 234 214 108 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 155 1,266 1,935 5,996 4,262 3,641 7,595 1,567 4,181 3,694 Net flow of long-term debt (ex. IMF) 157 1,313 1,043 2,131 3,245 892 4,284 247 2,640 1,996 Foreign direct investment (net) -25 -106 530 1,517 1,222 2,287 1,725 1,345 982 1,111 Portfolio equity flows 0 0 0 2,101 -406 264 1,410 -183 383 410 Grants (excluding technical coop.) 23 59 362 247 202 198 176 158 177 178 Memo: 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 75 Interest on long-term debt 44 579 1,573 1,674 1,716 1,964 2,050 2,409 2,900 2,809 Profit remittances on FDI 0 198 311 514 450 414 629 179 618 810 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 6,576 32,436 44,092 86,258 85,847 68,524 80,231 79,129 75,566 83,138 Exports of goods, serv. & inc. (XGS) .. 8,202 13,290 40,118 49,120 43,617 47,198 49,196 41,667 45,562 Worker remit. & comp. of employees 0 626 1,465 4,875 6,799 5,130 6,896 6,175 6,155 7,363 Imports of goods & services (MGS) .. 10,348 16,437 44,091 53,494 42,302 40,389 43,250 40,667 41,676 International reserves (RES) 255 3,978 2,036 11,747 8,714 10,789 15,029 15,035 15,649 16,136 Current account balance .. -1,904 -2,695 -3,953 -4,351 1,546 7,219 6,258 1,323 4,197 4. DEBT INDICATORS EDT / XGS (%) .. 212.4 230.1 109.7 103.3 122.7 123.0 116.7 138.8 130.2 EDT / GNI (%) 33.4 53.7 69.4 51.0 59.1 78.1 72.3 72.6 76.5 71.4 TDS / XGS (%) .. 26.6 27.0 13.4 9.3 10.9 13.6 13.8 21.7 20.2 INT / XGS (%) .. 18.2 13.3 5.4 4.5 5.3 5.2 5.6 7.7 6.5 INT / GNI (%) 0.7 4.6 4.0 2.5 2.6 3.4 3.0 3.5 4.2 3.6 RES / EDT (%) 11.6 22.8 6.7 26.7 17.2 20.2 25.9 26.2 27.1 27.2 RES / MGS (months) .. 4.6 1.5 3.2 2.0 3.1 4.5 4.2 4.6 4.6 Short-term / EDT (%) 26.5 43.4 14.5 18.1 23.2 13.4 9.9 10.4 10.5 9.4 Concessional / EDT (%) 3.1 5.5 20.0 23.7 19.9 21.5 23.2 21.9 19.3 21.1 Multilateral / EDT (%) 5.5 7.5 20.5 18.0 14.4 14.9 13.5 12.5 11.6 11.7 417 PHILIPPINES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 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 52,098 Public and publicly guaranteed 625 6,363 24,040 27,093 26,416 28,902 34,800 30,407 29,416 32,967 Official 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 11,412 Private 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 1,253 627 546 428 384 355 294 286 Private 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 15,594 Memo: 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 7,811 Public and publicly guaranteed 142 1,382 2,225 3,243 3,192 2,745 7,439 3,777 4,820 6,165 Official 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 1,127 576 976 Private 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 68 Private 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 3,055 947 Memo: 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 5,815 Public and publicly guaranteed 75 221 1,411 2,596 1,883 2,114 3,170 2,516 3,513 3,542 Official 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 21 498 552 474 562 671 612 707 Private 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 98 Private 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 1,274 Memo: 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 1,996 Public and publicly guaranteed 67 1,161 814 647 1,309 632 4,269 1,261 1,307 2,623 Official 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 -37 270 Private 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 -31 Private 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 -327 Memo: IBRD 11 195 206 18 -112 -95 -227 -197 -194 -144 IDA 0 2 -1 13 8 6 3 7 2 -5 418 PHILIPPINES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 44 579 1,573 1,674 1,716 1,964 2,050 2,409 2,900 2,809 Public and publicly guaranteed 26 375 1,486 1,443 1,397 1,476 1,637 1,823 1,961 2,040 Official 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 21 125 302 291 280 333 348 306 301 Private 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 14 Private 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 26 108 543 446 Memo: 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 -814 Public and publicly guaranteed 41 785 -672 -796 -88 -845 2,632 -562 -654 583 Official 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 -31 Private 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 -44 Private 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 -773 Memo: 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 8,624 Public and publicly guaranteed 101 596 2,896 4,039 3,280 3,590 4,807 4,339 5,474 5,583 Official 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 1,007 Private 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 63 112 Private 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 1,720 Memo: 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 9,391 Official creditors 176 3,246 6,156 7,856 6,948 9,078 31,288 9,907 8,818 8,850 Private creditors 16 1,119 434 315 230 304 419 487 650 541 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.0 5.3 Deutsche mark 12.0 2.0 1.5 1.7 1.4 1.4 1.0 0.9 .. .. French franc 0.2 2.2 1.5 0.9 0.8 0.8 0.6 0.6 .. .. Japanese yen 2.7 21.9 31.0 37.8 36.6 37.9 38.8 42.7 39.7 41.4 Pound sterling 0.0 0.2 1.0 0.2 0.3 0.2 0.2 0.1 0.1 0.1 Swiss franc 3.1 0.5 0.5 0.2 0.2 0.2 0.1 0.1 0.1 0.1 U.S.dollars 62.1 51.6 36.2 29.6 33.6 34.6 39.0 35.7 39.2 39.1 Multiple currency 19.3 19.0 23.6 25.8 23.9 22.2 17.4 17.1 15.1 13.4 Special drawing rights 0.0 0.0 0.0 0.6 0.6 0.6 0.5 0.6 0.5 0.5 All other currencies 0.7 2.6 4.6 3.1 2.5 2.0 2.4 2.2 0.2 0.2 419 PHILIPPINES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 23.3 Official 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 65.7 Private 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 14.6 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 4,278 2,571 1,617 980 560 278 153 31 13 9 Principal 6,271 5,717 6,056 4,941 4,556 3,335 4,917 3,146 2,594 2,420 Interest 4,370 3,796 3,328 2,782 2,368 1,974 1,639 1,308 1,539 1,461 Official creditors Disbursements 2,812 2,432 1,580 977 560 278 153 31 13 9 Principal 1,857 1,801 1,853 1,902 1,768 1,677 1,692 1,494 1,433 1,326 Interest 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 89 Private creditors Disbursements 361 139 37 3 0 0 0 0 0 0 Principal 4,414 3,916 4,203 3,039 2,788 1,658 3,224 1,653 1,161 1,094 Interest 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 1,163 420 POLAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 49,364 43,473 40,401 55,494 60,671 63,259 63,275 69,521 Long-term debt (LDOD) .. .. 39,261 40,810 36,589 49,303 54,635 56,175 56,309 60,637 Public and publicly guaranteed .. .. 39,261 39,208 34,177 35,136 33,151 30,784 25,709 29,374 Private nonguaranteed .. .. 0 1,602 2,412 14,167 21,484 25,390 30,599 31,263 Use of IMF credit .. .. 509 0 0 0 0 0 0 0 Short-term debt .. .. 9,595 2,663 3,812 6,191 6,037 7,084 6,966 8,884 of 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 0 Memo: 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 2 Memo: 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 11,685 Long-term debt .. .. 540 1,475 2,394 4,742 8,233 10,174 13,607 11,685 IMF purchases .. .. 485 0 0 0 0 0 0 0 Principal repayments .. .. 635 1,114 1,085 2,910 6,244 7,674 12,609 10,978 Long-term debt .. .. 635 1,114 1,085 2,910 6,244 7,674 12,609 10,978 IMF repurchases .. .. 0 0 0 0 0 0 0 0 Net flows on debt .. .. 423 982 2,459 4,210 1,741 3,522 999 1,155 of which short-term debt .. .. 33 621 1,149 2,379 -247 1,023 0 448 Interest payments (INT) .. .. 332 1,566 1,477 1,624 2,130 2,559 2,773 2,511 Long-term debt .. .. 203 1,433 1,286 1,374 1,802 2,223 2,453 2,263 IMF charges .. .. 23 0 0 0 0 0 0 0 Short-term debt .. .. 105 133 191 250 328 336 320 247 Net transfers on debt .. .. 91 -584 982 2,586 -388 963 -1,775 -1,356 Total debt service paid (TDS) .. .. 966 2,680 2,562 4,534 8,374 10,233 15,382 13,489 Long-term debt .. .. 838 2,547 2,371 4,284 8,046 9,898 15,061 13,242 IMF repurchases and charges .. .. 23 0 0 0 0 0 0 0 Short-term debt (interest only) .. .. 105 133 191 250 328 336 320 247 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 20 6,564 7,469 10,482 9,963 12,962 7,129 4,826 Net flow of long-term debt (ex. IMF) .. .. -95 361 1,310 1,832 1,988 2,500 999 707 Foreign direct investment (net) .. .. 89 4,498 4,908 6,365 7,270 9,341 5,713 4,131 Portfolio equity flows .. .. 0 749 599 1,734 14 447 -307 -830 Grants (excluding technical coop.) .. .. 26 956 652 551 690 674 724 818 Memo: 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 1,812 Interest on long-term debt .. .. 203 1,433 1,286 1,374 1,802 2,223 2,453 2,263 Profit remittances on FDI .. .. 20 549 639 610 396 701 714 750 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 55,620 129,673 147,694 157,267 154,029 162,671 182,001 187,134 Exports of goods, serv. & inc. (XGS) .. .. 19,640 39,554 41,910 46,471 40,958 49,178 54,982 59,836 Worker remit. & comp. of employees .. .. 0 774 848 1,070 825 831 1,131 1,373 Imports of goods & services (MGS) .. .. 19,084 43,789 48,892 55,331 54,961 60,917 62,290 67,014 International reserves (RES) .. .. 4,674 18,019 20,669 28,276 27,314 27,469 26,563 29,784 Current account balance .. .. 3,067 -3,264 -5,744 -6,901 -12,487 -9,998 -5,357 -5,007 4. DEBT INDICATORS EDT / XGS (%) .. .. 251.3 109.9 96.4 119.4 148.1 128.6 115.1 116.2 EDT / GNI (%) .. .. 88.8 33.5 27.4 35.3 39.4 38.9 34.8 37.2 TDS / XGS (%) .. .. 4.9 6.8 6.1 9.8 20.4 20.8 28.0 22.5 INT / XGS (%) .. .. 1.7 4.0 3.5 3.5 5.2 5.2 5.0 4.2 INT / GNI (%) .. .. 0.6 1.2 1.0 1.0 1.4 1.6 1.5 1.3 RES / EDT (%) .. .. 9.5 41.4 51.2 51.0 45.0 43.4 42.0 42.8 RES / MGS (months) .. .. 2.9 4.9 5.1 6.1 6.0 5.4 5.1 5.3 Short-term / EDT (%) .. .. 19.4 6.1 9.4 11.2 9.9 11.2 11.0 12.8 Concessional / EDT (%) .. .. 7.7 23.3 19.0 14.2 12.0 10.7 9.8 9.5 Multilateral / EDT (%) .. .. 1.1 5.0 5.1 3.9 3.6 3.5 3.5 3.4 421 POLAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 39,261 40,810 36,589 49,303 54,635 56,175 56,309 60,637 Public and publicly guaranteed .. .. 39,261 39,208 34,177 35,136 33,151 30,784 25,709 29,374 Official 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 6,582 Private 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 3 Private 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 27,523 Memo: 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 11,685 Public and publicly guaranteed .. .. 540 1,014 1,010 1,391 520 906 1,940 2,881 Official 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 0 Private 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 0 Private 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 8,803 Memo: 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 10,978 Public and publicly guaranteed .. .. 635 803 510 1,444 846 2,278 5,193 2,750 Official 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 80 231 195 205 262 348 Private 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 3 Private 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 8,178 Memo: 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 2,500 999 707 Public and publicly guaranteed .. .. -95 211 500 -53 -327 -1,372 -3,253 131 Official 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 -348 Private 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 -3 Private 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 3,826 625 Memo: IBRD .. .. 54 266 84 -23 59 150 93 -33 IDA .. .. 0 0 0 0 0 0 0 0 422 POLAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 203 1,433 1,286 1,374 1,802 2,223 2,453 2,263 Public and publicly guaranteed .. .. 203 1,355 1,169 1,164 1,316 1,138 1,043 953 Official 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 .. .. 56 465 405 407 343 296 279 276 Private 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 0 Private 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 1,027 Memo: 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 -1,557 Public and publicly guaranteed .. .. -298 -1,144 -669 -1,217 -1,643 -2,510 -4,296 -821 Official 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 -624 Private 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 -4 Private 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 -402 Memo: 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 13,242 Public and publicly guaranteed .. .. 838 2,158 1,679 2,608 2,162 3,416 6,236 3,703 Official 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 .. .. 100 516 486 637 538 500 541 624 Private 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 4 Private 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 9,206 Memo: 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 1,217 685 521 388 Official creditors .. .. 1,297 1,136 1,060 912 1,165 638 521 388 Private creditors .. .. 829 108 163 60 52 48 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 41.0 46.4 Deutsche mark .. .. 23.3 9.9 10.1 10.6 9.4 9.1 .. .. French franc .. .. 11.0 12.7 12.6 12.9 11.5 11.2 .. .. Japanese yen .. .. 2.9 3.8 3.8 4.1 4.8 4.5 4.5 4.1 Pound sterling .. .. 3.8 2.8 3.2 3.1 3.1 3.0 3.4 5.3 Swiss franc .. .. 9.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 32.2 47.4 46.5 46.2 48.4 47.7 41.7 36.2 Multiple currency .. .. 0.1 5.5 6.0 5.3 5.2 4.8 4.8 4.0 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 17.5 17.7 17.8 17.8 17.4 19.7 4.6 4.0 423 POLAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 232 4 8 33 0 0 0 0 Memo: interest forgiven .. .. 61 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 24.4 Official 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 46.1 Private 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 24.3 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 112 87 68 45 32 22 12 5 2 1 Principal 6,805 6,781 6,115 5,964 7,046 8,043 6,171 4,575 4,657 2,500 Interest 2,156 1,995 1,799 1,645 1,300 1,090 828 1,256 920 257 Official creditors Disbursements 112 87 68 45 32 22 12 5 2 1 Principal 1,921 2,126 2,592 2,986 3,444 3,820 2,341 216 180 172 Interest 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 8 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4,884 4,655 3,523 2,978 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 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 1,235 905 248 424 ROMANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 9,762 1,140 8,366 9,524 9,920 9,136 10,498 11,529 14,683 Long-term debt (LDOD) .. 7,131 230 6,579 7,965 8,805 8,292 9,684 10,732 13,780 Public and publicly guaranteed .. 7,131 223 5,544 6,234 6,449 5,761 6,368 6,553 8,112 Private nonguaranteed .. 0 7 1,035 1,731 2,356 2,531 3,316 4,178 5,668 Use of IMF credit .. 328 0 651 641 539 458 453 387 428 Short-term debt .. 2,303 910 1,136 918 576 385 361 411 475 of 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 9 Memo: 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 21 Memo: 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 4,561 Long-term debt .. 2,797 26 4,690 3,575 1,997 3,196 2,988 3,258 4,454 IMF purchases .. 158 0 0 166 0 72 114 66 107 Principal repayments .. 928 4 4,062 2,759 1,888 3,139 1,752 1,925 2,548 Long-term debt .. 824 4 3,706 2,624 1,763 3,000 1,656 1,808 2,450 IMF repurchases .. 104 0 356 135 125 139 96 117 98 Net flows on debt .. 2,027 44 461 764 -254 -60 1,334 1,450 2,075 of which short-term debt .. 0 22 -167 -218 -363 -190 -16 50 62 Interest payments (INT) .. 601 14 496 553 525 540 633 612 540 Long-term debt .. 332 0 364 471 481 497 587 579 520 IMF charges .. 20 0 39 29 29 20 24 19 11 Short-term debt .. 249 14 93 53 15 23 22 14 9 Net transfers on debt .. 1,426 30 -35 211 -779 -601 701 838 1,535 Total debt service paid (TDS) .. 1,529 18 4,558 3,312 2,413 3,680 2,385 2,537 3,088 Long-term debt .. 1,156 4 4,070 3,095 2,244 3,497 2,243 2,387 2,970 IMF repurchases and charges .. 124 0 395 165 154 159 120 136 109 Short-term debt (interest only) .. 249 14 93 53 15 23 22 14 9 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 1,973 24 1,351 2,489 2,497 1,500 2,619 2,873 3,427 Net flow of long-term debt (ex. IMF) .. 1,973 22 984 952 234 197 1,332 1,451 2,004 Foreign direct investment (net) .. 0 0 263 1,215 2,031 1,041 1,037 1,157 1,144 Portfolio equity flows .. 0 0 0 195 95 68 58 8 21 Grants (excluding technical coop.) .. 0 2 104 127 136 195 193 257 259 Memo: 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 2,711 Interest on long-term debt .. 332 0 364 471 481 497 587 579 520 Profit remittances on FDI .. 0 0 24 30 154 52 72 117 197 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 38,455 35,033 34,958 41,673 35,181 36,768 39,883 45,290 Exports of goods, serv. & inc. (XGS) .. 12,160 6,555 9,736 10,160 9,795 10,024 12,440 13,876 16,643 Worker remit. & comp. of employees .. 0 0 18 16 49 96 96 116 143 Imports of goods & services (MGS) .. 14,580 9,915 12,890 12,841 13,461 11,943 14,653 17,244 19,697 International reserves (RES) .. 2,511 1,374 3,143 4,679 3,795 3,651 4,848 6,377 8,372 Current 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 88.2 EDT / GNI (%) .. .. 3.0 23.9 27.2 23.8 26.0 28.6 28.9 32.4 TDS / XGS (%) .. 12.6 0.3 46.8 32.6 24.6 36.7 19.2 18.3 18.6 INT / XGS (%) .. 4.9 0.2 5.1 5.4 5.4 5.4 5.1 4.4 3.2 INT / GNI (%) .. .. 0.0 1.4 1.6 1.3 1.5 1.7 1.5 1.2 RES / EDT (%) .. 25.7 120.5 37.6 49.1 38.3 40.0 46.2 55.3 57.0 RES / MGS (months) .. 2.1 1.7 2.9 4.4 3.4 3.7 4.0 4.4 5.1 Short-term / EDT (%) .. 23.6 79.8 13.6 9.6 5.8 4.2 3.4 3.6 3.2 Concessional / EDT (%) .. 1.8 19.2 5.5 4.7 5.8 4.0 3.0 2.3 1.4 Multilateral / EDT (%) .. 8.3 0.0 23.5 23.6 24.1 28.7 28.2 26.4 23.7 425 ROMANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 7,131 230 6,579 7,965 8,805 8,292 9,684 10,732 13,780 Public and publicly guaranteed .. 7,131 223 5,544 6,234 6,449 5,761 6,368 6,553 8,112 Official 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 .. 174 218 460 449 577 363 316 268 210 Private 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 5 590 516 510 385 285 202 183 Private 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 5,548 Memo: 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 4,454 Public and publicly guaranteed .. 2,797 23 2,191 1,796 1,173 1,868 1,781 1,654 2,316 Official 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 4 Private 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 47 Private 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 2,018 Memo: 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 2,450 Public and publicly guaranteed .. 824 0 1,708 1,541 1,563 1,513 935 1,287 1,411 Official 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 88 Private 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 80 Private 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 1,039 Memo: 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 2,004 Public and publicly guaranteed .. 1,973 23 483 256 -391 355 846 367 905 Official 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 -84 Private 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 -33 Private 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 1,084 979 Memo: IBRD .. 217 0 227 371 84 233 293 31 214 IDA .. 0 0 0 0 0 0 0 0 0 426 ROMANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 332 0 364 471 481 497 587 579 520 Public and publicly guaranteed .. 332 0 312 368 342 357 394 439 421 Official creditors .. 118 0 236 241 207 230 243 274 193 Multilateral .. 59 0 156 159 143 172 182 182 136 Concessional .. 0 0 0 0 0 0 0 1 0 Bilateral .. 59 0 80 82 63 58 61 93 57 Concessional .. 0 0 15 15 15 14 13 10 8 Private creditors .. 214 0 76 128 135 128 151 165 228 Bonds .. 0 0 9 39 63 54 45 48 131 Commercial banks .. 172 0 22 45 43 40 78 97 82 Other private .. 42 0 46 44 29 33 28 20 15 Private nonguaranteed .. 0 0 52 103 139 140 193 140 99 Bonds .. 0 0 0 0 7 7 7 0 2 Commercial banks and other .. 0 0 52 103 132 133 186 140 97 Memo: IBRD .. 59 0 63 70 82 88 104 103 76 IDA .. 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. 1,641 22 620 481 -247 -301 745 872 1,484 Public and publicly guaranteed .. 1,641 23 171 -113 -732 -3 452 -73 484 Official 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 -92 Private 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 -48 Private 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 -291 375 944 882 Memo: 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 2,970 Public and publicly guaranteed .. 1,156 0 2,020 1,909 1,905 1,870 1,329 1,727 1,832 Official 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 97 Private 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 95 Private 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 1,136 Memo: 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 2,167 Official creditors .. 1,347 0 2,555 2,570 2,095 2,118 1,761 1,351 1,260 Private creditors .. 518 113 673 441 309 513 670 685 907 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 37.6 45.1 Deutsche mark .. 2.1 0.0 8.0 12.1 12.8 11.8 9.4 .. .. French franc .. 0.0 0.8 4.5 3.9 4.0 3.6 2.7 .. .. Japanese yen .. 0.0 0.0 19.4 15.4 12.6 7.0 5.5 1.8 1.5 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 2.6 89.5 1.2 0.8 1.1 1.0 0.9 0.9 1.0 U.S.dollars .. 83.8 9.8 31.4 37.3 39.1 44.4 47.4 43.3 38.1 Multiple currency .. 11.4 0.0 18.2 16.5 17.5 20.1 17.1 15.7 13.7 Special drawing rights .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. 0.0 0.0 17.3 14.0 12.9 12.0 16.9 0.7 0.6 427 ROMANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 85 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 21.6 Official 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 41.6 Private 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 16.4 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 954 621 255 135 71 49 28 21 14 8 Principal 2,131 2,118 1,963 1,485 1,603 1,976 1,281 405 353 1,030 Interest 961 832 708 570 470 365 204 149 137 94 Official creditors Disbursements 466 345 151 98 71 49 28 21 14 8 Principal 696 659 474 416 411 410 392 297 267 238 Interest 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 51 Private creditors Disbursements 488 277 104 37 0 0 0 0 0 0 Principal 1,435 1,459 1,489 1,069 1,192 1,566 889 108 86 792 Interest 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 0 428 RUSSIAN FEDERATION (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 126,421 127,621 177,861 174,759 160,027 152,491 147,541 Long-term debt (LDOD) .. .. .. 101,957 108,483 143,775 143,776 132,784 126,086 124,737 Public and publicly guaranteed .. .. .. 101,957 106,578 121,612 121,193 111,022 103,760 96,223 Private nonguaranteed .. .. .. 0 1,905 22,163 22,583 21,762 22,326 28,514 Use of IMF credit .. .. .. 12,508 13,231 19,335 15,238 11,613 7,433 6,481 Short-term debt .. .. .. 11,957 5,908 14,751 15,745 15,630 18,972 16,322 of 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 71 Memo: 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 2,422 767 766 250 337 Memo: 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 6,036 Long-term debt .. .. .. 6,453 8,840 17,948 3,099 1,416 2,936 6,036 IMF purchases .. .. .. 3,757 2,019 6,241 645 0 0 0 Principal repayments .. .. .. 3,160 1,904 5,081 6,918 6,221 9,333 7,167 Long-term debt .. .. .. 2,638 1,409 4,166 2,678 3,333 5,517 5,681 IMF repurchases .. .. .. 522 495 914 4,240 2,888 3,817 1,486 Net flows on debt .. .. .. 7,300 7,555 21,912 -4,174 -2,805 -3,898 -2,731 of which short-term debt .. .. .. 250 -1,400 -500 -1,000 2,000 2,500 -1,600 Interest payments (INT) .. .. .. 4,155 5,129 5,817 5,171 5,604 7,937 7,163 Long-term debt .. .. .. 3,685 4,547 5,099 3,943 4,284 6,807 6,429 IMF charges .. .. .. 470 582 718 723 691 507 209 Short-term debt .. .. .. 0 0 0 505 630 624 525 Net transfers on debt .. .. .. 3,145 2,426 16,095 -9,345 -8,409 -11,835 -9,894 Total debt service paid (TDS) .. .. .. 7,315 7,033 10,898 12,089 11,825 17,271 14,330 Long-term debt .. .. .. 6,323 5,956 9,266 6,621 7,617 12,323 12,110 IMF repurchases and charges .. .. .. 992 1,077 1,632 4,963 3,579 4,323 1,695 Short-term debt (interest only) .. .. .. 0 0 0 505 630 624 525 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 9,008 13,914 17,437 4,249 1,608 788 6,219 Net flow of long-term debt (ex. IMF) .. .. .. 3,815 7,431 13,782 421 -1,917 -2,581 355 Foreign direct investment (net) .. .. .. 2,579 4,864 2,764 3,309 2,713 2,469 3,009 Portfolio equity flows .. .. .. 2,154 1,266 714 -287 150 542 2,626 Grants (excluding technical coop.) .. .. .. 460 353 177 805 662 358 229 Memo: 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 -3,296 Interest on long-term debt .. .. .. 3,685 4,547 5,099 3,943 4,284 6,807 6,429 Profit remittances on FDI .. .. .. 227 923 857 618 887 1,214 3,087 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 386,288 396,236 259,163 188,190 252,972 305,929 340,403 Exports of goods, serv. & inc. (XGS) .. .. .. 107,303 105,341 91,117 88,498 119,351 120,101 126,992 Worker remit. & comp. of employees .. .. .. 103 227 301 426 500 624 827 Imports of goods & services (MGS) .. .. .. 96,526 105,065 90,564 64,488 72,582 85,770 96,959 International reserves (RES) .. .. .. 16,258 17,624 12,043 12,325 27,656 36,303 48,326 Current account balance .. .. .. 10,847 -80 216 24,611 46,840 33,572 29,905 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 117.8 121.2 195.2 197.5 134.1 127.0 116.2 EDT / GNI (%) .. .. .. 32.7 32.2 68.6 92.9 63.3 49.8 43.3 TDS / XGS (%) .. .. .. 6.8 6.7 12.0 13.7 9.9 14.4 11.3 INT / XGS (%) .. .. .. 3.9 4.9 6.4 5.8 4.7 6.6 5.6 INT / GNI (%) .. .. .. 1.1 1.3 2.2 2.7 2.2 2.6 2.1 RES / EDT (%) .. .. .. 12.9 13.8 6.8 7.1 17.3 23.8 32.8 RES / MGS (months) .. .. .. 2.0 2.0 1.6 2.3 4.6 5.1 6.0 Short-term / EDT (%) .. .. .. 9.5 4.6 8.3 9.0 9.8 12.4 11.1 Concessional / EDT (%) .. .. .. 1.1 0.9 0.7 0.2 0.6 0.5 0.4 Multilateral / EDT (%) .. .. .. 2.2 4.1 3.7 4.0 4.4 4.6 4.6 429 RUSSIAN FEDERATION (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 101,957 108,483 143,775 143,776 132,784 126,086 124,737 Public and publicly guaranteed .. .. .. 101,957 106,578 121,612 121,193 111,022 103,760 96,223 Official 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 1,173 436 889 741 608 Private 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 2,960 Private 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 23,989 Memo: 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 6,036 Public and publicly guaranteed .. .. .. 6,453 6,935 14,662 2,079 1,036 912 838 Official 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 8 Private 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 1,162 791 290 174 195 Private 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 1,705 Memo: 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 5,681 Public and publicly guaranteed .. .. .. 2,638 1,409 3,741 1,998 2,031 4,105 3,617 Official 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 41 166 142 Private 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 1,335 927 Private 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 1,335 Memo: 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 -2,581 355 Public and publicly guaranteed .. .. .. 3,815 5,526 10,921 80 -995 -3,193 -2,779 Official 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 -134 Private 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 -732 Private 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 -172 291 371 Memo: IBRD .. .. .. 1,097 2,691 1,160 388 274 23 -296 IDA .. .. .. 0 0 0 0 0 0 0 430 RUSSIAN FEDERATION (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 3,685 4,547 5,099 3,943 4,284 6,807 6,429 Public and publicly guaranteed .. .. .. 3,685 4,547 3,507 2,569 3,207 5,861 5,400 Official 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 27 Private 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 .. .. .. 401 358 249 285 130 193 174 Private 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 1,204 912 865 748 Memo: 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 -6,074 Public and publicly guaranteed .. .. .. 130 979 7,414 -2,489 -4,202 -9,055 -8,179 Official 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 -161 Private 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 -906 Private 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 -377 Memo: 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 12,110 Public and publicly guaranteed .. .. .. 6,323 5,956 7,247 4,567 5,238 9,966 9,016 Official 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 41 190 169 Private 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 1,101 Private 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 2,083 Memo: 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 2,786 Official creditors .. .. .. 4,886 5,498 5,567 5,272 2,581 2,408 2,379 Private creditors .. .. .. 3,597 2,396 1,516 1,158 812 568 408 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 20.3 23.6 Deutsche mark .. .. .. 37.8 29.0 29.0 22.0 20.8 .. .. French franc .. .. .. 1.8 0.5 0.5 0.4 0.4 .. .. Japanese yen .. .. .. 1.9 0.2 0.2 0.2 0.1 0.1 0.2 Pound sterling .. .. .. 0.7 0.3 0.3 0.2 0.1 0.1 0.1 Swiss franc .. .. .. 2.4 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 49.4 64.6 64.4 71.5 72.3 73.4 69.5 Multiple currency .. .. .. 2.5 4.7 4.9 5.1 5.7 6.0 6.4 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 3.5 0.6 0.7 0.5 0.5 0.0 0.1 431 RUSSIAN FEDERATION (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 44.1 Official 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 45.3 Private 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 26.9 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 898 674 376 239 198 139 96 66 41 30 Principal 12,086 9,650 12,413 7,287 11,638 7,493 8,845 6,845 6,145 5,797 Interest 6,770 6,277 5,704 5,184 4,976 4,691 4,342 3,892 3,561 3,225 Official creditors Disbursements 663 553 330 234 197 139 96 66 41 30 Principal 4,243 3,700 4,256 3,636 3,962 4,116 4,248 4,188 3,973 3,919 Interest 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 36 Private creditors Disbursements 235 120 46 5 1 0 0 0 0 0 Principal 7,843 5,950 8,157 3,651 7,676 3,377 4,597 2,657 2,172 1,878 Interest 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 1,904 432 RWANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5 190 712 1,043 1,111 1,226 1,292 1,271 1,283 1,435 Long-term debt (LDOD) 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305 Public and publicly guaranteed 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 3 14 0 24 40 56 76 86 84 85 Short-term debt 0 26 47 34 77 49 54 39 36 45 of 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 0 Memo: 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 1 Memo: 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 85 Long-term debt 0 27 62 62 72 88 82 40 64 85 IMF purchases 0 6 0 0 20 16 29 25 12 1 Principal repayments 1 3 10 10 13 11 20 24 12 14 Long-term debt 0 3 9 9 10 9 12 13 10 12 IMF repurchases 1 0 1 1 2 2 8 11 2 2 Net flows on debt -1 36 54 52 114 79 95 25 62 80 of which short-term debt 0 5 2 0 34 -14 4 -16 -2 9 Interest payments (INT) 0 5 11 7 10 9 11 11 7 8 Long-term debt 0 2 6 6 7 6 8 8 5 7 IMF charges 0 0 0 1 1 2 1 1 1 1 Short-term debt 0 3 5 1 2 2 2 1 1 0 Net transfers on debt -1 31 43 45 104 69 84 14 55 72 Total debt service paid (TDS) 1 8 21 18 22 21 31 35 18 22 Long-term debt 0 4 15 15 17 15 20 21 15 19 IMF repurchases and charges 1 0 1 2 3 4 10 13 3 3 Short-term debt (interest only) 0 3 5 1 2 2 2 1 1 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 10 109 206 389 188 285 300 247 212 240 Net flow of long-term debt (ex. IMF) 0 25 53 53 62 79 70 27 54 73 Foreign direct investment (net) 0 16 8 2 3 7 2 8 5 3 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 10 68 145 333 124 199 228 211 154 164 Memo: technical coop. grants 12 55 90 91 58 61 60 56 57 82 official net resource flows 10 95 200 387 186 278 298 238 208 237 private net resource flows 0 14 6 2 3 7 2 8 5 3 NET TRANSFERS 10 98 194 380 177 279 291 235 204 233 Interest on long-term debt 0 2 6 6 7 6 8 8 5 7 Profit remittances on FDI 0 9 6 2 4 0 1 3 3 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 220 1,165 2,572 1,368 1,835 1,983 1,920 1,795 1,680 1,716 Exports of goods, serv. & inc. (XGS) .. 198 148 89 158 121 120 145 179 148 Worker remit. & comp. of employees 0 1 1 0 5 0 0 7 8 7 Imports of goods & services (MGS) .. 361 375 388 502 439 459 452 468 462 International reserves (RES) 8 196 44 107 153 169 174 191 212 244 Current 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 1,076.2 875.7 717.8 969.5 EDT / GNI (%) 2.2 16.3 27.7 76.2 60.5 61.8 67.3 70.8 76.4 83.6 TDS / XGS (%) .. 3.8 14.2 19.8 14.1 17.1 26.2 24.1 10.3 14.9 INT / XGS (%) .. 2.5 7.6 8.3 6.1 7.7 9.4 7.7 3.7 5.2 INT / GNI (%) 0.0 0.4 0.4 0.5 0.5 0.5 0.6 0.6 0.4 0.5 RES / EDT (%) 157.8 103.3 6.2 10.2 13.8 13.8 13.5 15.0 16.5 17.0 RES / MGS (months) .. 6.5 1.4 3.3 3.7 4.6 4.6 5.1 5.4 6.3 Short-term / EDT (%) 0.0 13.7 6.6 3.3 6.9 4.0 4.2 3.0 2.8 3.2 Concessional / EDT (%) 31.0 74.4 92.6 93.6 88.7 90.9 89.7 90.1 90.5 90.8 Multilateral / EDT (%) 1.3 47.8 76.2 79.9 76.5 78.3 78.0 78.3 79.1 80.5 433 RWANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305 Public and publicly guaranteed 2 150 664 984 994 1,120 1,162 1,147 1,163 1,305 Official 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 51 118 143 136 155 150 150 147 148 Private 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 1 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 58 340 536 558 639 691 692 713 826 DISBURSEMENTS 0 27 62 62 72 88 82 40 64 85 Public and publicly guaranteed 0 27 62 62 72 88 82 40 64 85 Official creditors 0 27 62 62 72 88 82 40 64 85 Multilateral 0 21 37 62 67 88 82 40 64 85 Concessional 0 20 37 62 67 88 82 40 64 85 Bilateral 0 7 26 0 5 0 0 0 0 0 Concessional 0 7 25 0 3 0 0 0 0 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 22 43 53 67 69 37 53 73 PRINCIPAL REPAYMENTS 0 3 9 9 10 9 12 13 10 12 Public and publicly guaranteed 0 3 9 9 10 9 12 13 10 12 Official creditors 0 0 7 9 10 9 12 13 10 12 Multilateral 0 0 5 7 8 7 10 10 6 7 Concessional 0 0 5 7 8 7 10 10 6 7 Bilateral 0 0 2 1 2 2 2 2 4 5 Concessional 0 0 2 1 1 0 1 1 4 5 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 4 5 5 6 6 3 0 NET FLOWS ON DEBT 0 25 53 53 62 79 70 27 54 73 Public and publicly guaranteed 0 25 53 53 62 79 70 27 54 73 Official 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 -5 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 21 38 48 62 63 31 50 73 434 RWANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 2 6 6 7 6 8 8 5 7 Public and publicly guaranteed 0 2 6 6 7 6 8 8 5 7 Official creditors 0 1 6 6 7 6 8 8 5 7 Multilateral 0 1 4 6 7 6 7 7 3 5 Concessional 0 1 4 6 7 6 7 7 3 5 Bilateral 0 0 1 0 0 0 1 1 2 2 Concessional 0 0 1 0 0 0 1 1 2 2 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 4 4 4 5 5 3 2 NET TRANSFERS ON DEBT 0 23 47 47 55 73 62 19 49 66 Public and publicly guaranteed 0 23 47 47 55 73 62 19 49 66 Official 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 -7 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 18 35 43 57 59 26 47 71 DEBT SERVICE (LTDS) 0 4 15 15 17 15 20 21 15 19 Public and publicly guaranteed 0 4 15 15 17 15 20 21 15 19 Official creditors 0 2 13 15 17 15 20 21 15 19 Multilateral 0 1 9 13 15 13 17 18 9 12 Concessional 0 1 9 13 15 13 17 18 9 11 Bilateral 0 0 4 2 2 2 3 3 6 7 Concessional 0 0 4 1 1 1 2 2 6 7 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 8 10 9 11 11 6 2 UNDISBURSED DEBT 10 110 465 297 254 226 243 242 317 353 Official creditors 10 110 459 297 254 226 243 242 317 353 Private creditors 0 0 6 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 7.4 7.1 Deutsche mark 46.6 0.8 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 0.0 7.3 3.9 8.1 7.5 5.8 5.0 4.7 .. .. Japanese yen 0.0 4.5 1.5 1.1 1.0 0.6 0.6 0.4 0.3 0.2 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 10.4 48.0 38.6 47.9 50.8 55.3 58.4 60.2 61.9 63.5 Multiple currency 0.0 5.9 14.9 11.4 10.5 9.6 8.9 8.4 7.9 7.4 Special drawing rights 0.0 0.0 6.2 4.0 3.8 3.5 3.3 3.1 2.9 2.7 All other currencies 42.9 33.5 34.8 27.4 26.5 25.3 23.9 23.1 19.6 19.0 435 RWANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 0 0 33 5 7 5 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 17 4 3 1 0 Official .. .. 0 0 0 17 4 3 1 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 0 0 15 1 1 0 0 Official .. .. 0 0 0 15 1 1 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 0 0 0 1 0 0 11 14 Memo: interest forgiven .. .. 0 0 0 1 0 0 5 5 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.8 1.5 1.4 0.8 0.4 0.5 0.8 0.8 0.8 0.8 Maturity (years) 50.0 39.4 33.9 39.6 41.0 42.7 43.1 39.7 40.4 39.8 Grace period (years) 10.5 8.7 9.0 10.1 10.3 10.2 10.2 10.2 10.9 10.3 Grant element (%) 83.4 70.1 70.6 80.4 83.8 83.7 81.4 80.5 80.4 80.6 Official creditors Interest (%) 0.8 1.5 1.4 0.8 0.4 0.5 0.8 0.8 0.8 0.8 Maturity (years) 50.0 39.4 33.9 39.6 41.0 42.7 43.1 39.7 40.4 39.8 Grace period (years) 10.5 8.7 9.0 10.1 10.3 10.2 10.2 10.2 10.9 10.3 Grant element (%) 83.4 70.1 70.6 80.4 83.8 83.7 81.4 80.5 80.4 80.6 Private creditors Interest (%) 0.0 0.0 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 0.0 0.0 Grace period (years) 0.0 0.0 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 0.0 0.0 0.0 Memorandum items Commitments 9 48 72 5 57 76 121 55 155 110 Official creditors 9 48 72 5 57 76 121 55 155 110 Private creditors 0 0 0 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 64 64 54 38 30 20 14 8 8 4 Principal 31 31 32 31 31 33 36 37 39 42 Interest 11 11 11 11 11 10 10 10 10 9 Official creditors Disbursements 64 64 54 38 30 20 14 8 8 4 Principal 31 31 32 31 31 33 36 37 39 42 Interest 11 11 11 11 11 10 10 10 10 9 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 8 8 7 5 4 4 4 5 4 4 Interest 2 2 2 2 1 1 1 1 1 1 Multilateral creditors Disbursements 64 64 54 38 30 20 14 8 8 4 Principal 23 24 25 26 27 29 32 32 35 38 Interest 9 9 9 9 9 9 9 9 9 8 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 436 SAMOA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2.7 60.2 92.0 166.9 156.4 180.1 192.4 197.4 204.3 234.4 Long-term debt (LDOD) 2.7 53.4 91.0 162.8 148.3 154.3 156.6 147.3 143.3 156.8 Public and publicly guaranteed 2.7 53.4 91.0 162.8 148.3 154.3 156.6 147.3 143.3 156.8 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 5.8 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 1.0 0.2 4.1 8.0 25.8 35.8 50.1 61.0 77.6 of which interest arrears on LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits 0.0 0.0 2.0 0.3 0.5 7.9 0.8 1.1 1.0 3.3 TOTAL DEBT FLOWS Disbursements 2.4 11.2 15.4 3.7 2.7 3.2 0.0 6.7 3.3 2.8 Long-term debt 2.4 10.5 15.4 3.7 2.7 3.2 0.0 6.7 3.3 2.8 IMF purchases 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.1 2.8 4.1 3.1 3.2 2.8 3.3 4.2 3.5 3.5 Long-term debt 0.1 2.3 3.3 3.1 3.2 2.8 3.3 4.2 3.5 3.5 IMF repurchases 0.0 0.5 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt 2.3 8.4 11.3 2.4 3.4 18.2 6.8 16.8 10.7 15.8 of which short-term debt 0.0 0.0 0.1 1.8 3.9 17.8 10.1 14.3 10.9 16.6 Interest payments (INT) 0.0 2.7 1.3 1.9 1.8 2.3 3.2 4.3 3.9 4.3 Long-term debt 0.0 2.3 1.2 1.6 1.5 1.4 1.4 1.4 1.3 1.3 IMF charges 0.0 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 0.2 0.0 0.3 0.3 0.8 1.7 2.9 2.6 3.0 Net transfers on debt 2.3 5.7 9.9 0.5 1.6 15.9 3.6 12.5 6.8 11.6 Total debt service paid (TDS) 0.1 5.5 5.5 5.0 5.0 5.1 6.5 8.5 7.4 7.8 Long-term debt 0.1 4.6 4.4 4.7 4.7 4.2 4.8 5.6 4.8 4.8 IMF repurchases and charges 0.0 0.7 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) 0.0 0.2 0.0 0.3 0.3 0.8 1.7 2.9 2.6 3.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 2.3 17.0 38.9 14.8 27.1 15.3 4.4 5.8 20.9 18.3 Net 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 -0.7 Foreign direct investment (net) 0.0 0.0 6.6 1.2 20.0 3.0 2.0 -1.5 1.2 1.3 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 0.0 8.8 20.2 13.1 7.6 11.9 5.8 4.9 19.9 17.8 Memo: 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 17.0 Interest on long-term debt 0.0 2.3 1.2 1.6 1.5 1.4 1.4 1.4 1.3 1.3 Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 0.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 164.3 227.0 244.5 225.8 232.6 233.7 242.9 260.0 Exports 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 42.0 Imports 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 62.5 Current 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 90.1 TDS / 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 1.6 RES / EDT (%) 194.6 4.6 75.1 36.4 41.1 34.1 35.4 32.2 27.7 26.7 RES / 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 33.1 Concessional / EDT (%) 89.5 56.2 90.5 94.0 91.9 83.3 79.7 73.4 69.2 66.1 Multilateral / EDT (%) 89.5 54.2 88.2 91.1 88.3 80.2 76.5 70.0 63.3 60.8 437 SAMOA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 2.7 53.4 91.0 162.8 148.3 154.3 156.6 147.3 143.3 156.8 Public and publicly guaranteed 2.7 53.4 91.0 162.8 148.3 154.3 156.6 147.3 143.3 156.8 Official creditors 2.4 45.1 89.6 162.8 148.3 154.3 156.6 147.3 143.3 156.8 Multilateral 2.4 32.7 81.1 152.1 138.0 144.4 147.3 138.2 129.3 142.5 Concessional 2.4 32.7 76.5 146.2 133.3 140.0 144.0 135.8 127.4 140.6 Bilateral 0.0 12.5 8.5 10.7 10.3 10.0 9.3 9.1 14.0 14.2 Concessional 0.0 1.2 6.7 10.7 10.3 10.0 9.3 9.1 14.0 14.2 Private creditors 0.3 8.3 1.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bonds 0.0 4.5 1.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 1.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.3 1.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA 0.0 6.3 18.3 43.2 41.8 45.3 44.2 47.3 47.9 51.4 DISBURSEMENTS 2.4 10.5 15.4 3.7 2.7 3.2 0.0 6.7 3.3 2.8 Public and publicly guaranteed 2.4 10.5 15.4 3.7 2.7 3.2 0.0 6.7 3.3 2.8 Official creditors 2.4 10.5 15.4 3.7 2.7 3.2 0.0 6.7 3.3 2.8 Multilateral 2.4 10.5 15.0 3.6 2.6 3.2 0.0 6.0 3.3 2.1 Concessional 2.4 10.5 14.7 3.6 2.6 3.2 0.0 6.0 3.3 2.1 Bilateral 0.0 0.0 0.4 0.0 0.0 0.0 0.0 0.7 0.0 0.7 Concessional 0.0 0.0 0.4 0.0 0.0 0.0 0.0 0.7 0.0 0.7 Private creditors 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 3.5 0.0 0.8 2.5 0.0 5.7 3.0 1.3 PRINCIPAL REPAYMENTS 0.1 2.3 3.3 3.1 3.2 2.8 3.3 4.2 3.5 3.5 Public and publicly guaranteed 0.1 2.3 3.3 3.1 3.2 2.8 3.3 4.2 3.5 3.5 Official creditors 0.0 0.5 3.3 3.1 3.2 2.8 3.3 4.2 3.5 3.5 Multilateral 0.0 0.3 2.2 2.8 2.9 2.5 2.7 3.3 3.1 3.0 Concessional 0.0 0.3 2.0 2.2 2.3 1.9 2.1 2.8 2.7 2.7 Bilateral 0.0 0.1 1.0 0.3 0.3 0.3 0.6 0.9 0.4 0.5 Concessional 0.0 0.0 0.0 0.3 0.3 0.3 0.6 0.9 0.4 0.5 Private 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 0.0 Private 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 0.0 Memo: 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 0.1 0.3 0.3 0.3 0.4 0.7 0.9 0.9 NET FLOWS ON DEBT 2.3 8.2 12.1 0.6 -0.5 0.4 -3.3 2.5 -0.2 -0.7 Public and publicly guaranteed 2.3 8.2 12.1 0.6 -0.5 0.4 -3.3 2.5 -0.2 -0.7 Official 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 0.2 Private 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 0.0 Private 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 0.0 Memo: 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 0.4 438 SAMOA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.0 2.3 1.2 1.6 1.5 1.4 1.4 1.4 1.3 1.3 Public and publicly guaranteed 0.0 2.3 1.2 1.6 1.5 1.4 1.4 1.4 1.3 1.3 Official creditors 0.0 1.4 1.1 1.6 1.5 1.4 1.4 1.4 1.3 1.3 Multilateral 0.0 0.3 0.7 1.6 1.4 1.3 1.4 1.3 1.3 1.2 Concessional 0.0 0.3 0.7 1.4 1.3 1.2 1.3 1.3 1.2 1.2 Bilateral 0.0 1.1 0.4 0.1 0.1 0.1 0.1 0.0 0.1 0.1 Concessional 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.1 Private creditors 0.0 0.9 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 0.4 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 0.0 0.0 Private 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 0.0 Memo: 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 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.4 NET TRANSFERS ON DEBT 2.3 5.9 10.9 -1.1 -2.0 -1.0 -4.8 1.1 -1.5 -2.0 Public and publicly guaranteed 2.3 5.9 10.9 -1.1 -2.0 -1.0 -4.8 1.1 -1.5 -2.0 Official 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 0.1 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.1 4.6 4.4 4.7 4.7 4.2 4.8 5.6 4.8 4.8 Public and publicly guaranteed 0.1 4.6 4.4 4.7 4.7 4.2 4.8 5.6 4.8 4.8 Official creditors 0.0 1.9 4.4 4.7 4.7 4.2 4.8 5.6 4.8 4.8 Multilateral 0.0 0.6 3.0 4.3 4.3 3.8 4.1 4.6 4.4 4.3 Concessional 0.0 0.6 2.7 3.6 3.6 3.1 3.4 4.1 3.9 3.9 Bilateral 0.0 1.3 1.4 0.4 0.4 0.4 0.7 1.0 0.4 0.6 Concessional 0.0 0.1 0.1 0.4 0.4 0.4 0.7 1.0 0.4 0.6 Private 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 0.0 Private 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 0.0 Memo: 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 0.2 0.6 0.6 0.6 0.7 1.0 1.3 1.3 UNDISBURSED DEBT 0.3 24.9 56.7 8.9 5.9 2.4 16.6 21.0 20.4 25.4 Official creditors 0.3 24.9 56.7 8.9 5.9 2.4 16.6 21.0 20.4 25.4 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD 2.4 33.9 83.3 156.8 143.6 150.0 153.3 144.8 141.4 154.8 Variable rate LDOD 0.0 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD 2.7 53.4 91.0 162.8 148.3 154.3 156.6 147.3 143.3 156.8 Private sector LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.5 2.5 Deutsche mark 0.0 12.0 1.7 0.0 0.0 0.0 0.0 0.0 .. .. French franc 0.0 0.0 0.1 0.3 0.2 0.2 0.2 0.2 .. .. Japanese yen 0.0 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 100.0 53.7 38.6 34.2 34.9 35.6 34.3 38.3 39.0 38.9 Multiple currency 0.0 12.8 43.9 43.2 41.3 40.9 43.8 40.4 36.7 37.9 Special drawing rights 0.0 0.0 1.3 11.6 12.8 13.3 13.0 12.9 12.6 12.6 All other currencies 0.0 21.1 14.4 10.7 10.7 10.0 8.7 8.2 9.2 8.2 439 SAMOA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.7 0.4 0.8 0.0 0.0 0.0 0.8 1.1 1.4 1.4 Maturity (years) 20.0 40.2 39.8 20.5 0.0 0.0 39.8 35.1 31.2 31.6 Grace period (years) 6.0 15.7 10.3 10.5 0.0 0.0 10.3 9.0 7.7 8.1 Grant element (%) 36.4 84.9 80.5 76.2 0.0 0.0 80.7 74.5 69.4 69.9 Official creditors Interest (%) 4.7 0.4 0.8 0.0 0.0 0.0 0.8 1.1 1.4 1.4 Maturity (years) 20.0 40.2 39.8 20.5 0.0 0.0 39.8 35.1 31.2 31.6 Grace period (years) 6.0 15.7 10.3 10.5 0.0 0.0 10.3 9.0 7.7 8.1 Grant element (%) 36.4 84.9 80.5 76.2 0.0 0.0 80.7 74.5 69.4 69.9 Private creditors Interest (%) 0.0 0.0 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 0.0 0.0 Grace period (years) 0.0 0.0 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 0.0 0.0 0.0 Memorandum items Commitments 1 12 15 2 0 0 14 12 3 6 Official creditors 1 12 15 2 0 0 14 12 3 6 Private creditors 0 0 0 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 2.8 6.0 5.7 5.0 4.3 2.8 0.9 0.2 0.2 0.1 Principal 3.5 6.1 6.0 6.1 6.3 6.4 6.7 6.7 6.1 6.7 Interest 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.2 1.2 Official creditors Disbursements 2.8 6.0 5.7 5.0 4.3 2.8 0.9 0.2 0.2 0.1 Principal 3.5 6.1 6.0 6.1 6.3 6.4 6.7 6.7 6.1 6.7 Interest 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.2 1.2 Bilateral creditors Disbursements 0.7 0.2 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Principal 0.5 1.9 1.9 1.9 1.8 1.8 1.8 1.8 0.2 0.2 Interest 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral creditors Disbursements 2.1 5.8 5.6 4.9 4.2 2.7 0.9 0.2 0.2 0.1 Principal 3.0 4.2 4.1 4.3 4.5 4.6 4.9 5.0 5.9 6.5 Interest 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.2 1.2 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 440 SAO TOME AND PRINCIPE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 23.5 150.0 234.1 236.9 256.9 319.6 315.1 312.8 333.4 Long-term debt (LDOD) .. 23.5 132.9 225.7 226.0 242.8 290.2 293.6 293.4 307.9 Public and publicly guaranteed .. 23.5 132.9 225.7 226.0 242.8 290.2 293.6 293.4 307.9 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 1.1 0.6 0.3 0.1 0.0 2.5 2.4 2.6 Short-term debt .. 0.0 16.0 7.8 10.6 14.0 29.3 19.0 16.9 22.9 of which interest arrears on LDOD .. 0.0 7.6 5.8 6.6 9.0 17.3 7.0 6.9 7.9 Official creditors .. 0.0 7.4 5.8 6.6 9.0 17.3 7.0 6.9 7.9 Private creditors .. 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD .. 0.0 21.4 22.5 20.4 29.2 65.9 47.6 47.3 43.4 Official creditors .. 0.0 20.4 22.5 20.4 29.2 65.9 47.6 47.3 43.4 Private creditors .. 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits .. 0.0 18.0 18.0 42.6 45.3 51.9 42.8 43.3 45.7 TOTAL DEBT FLOWS Disbursements .. 9.9 15.6 11.2 5.1 6.6 16.1 11.1 8.3 3.9 Long-term debt .. 9.9 15.6 11.2 5.1 6.6 16.1 8.6 8.3 3.9 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 2.5 0.0 0.0 Principal repayments .. 0.9 1.1 1.6 1.9 2.2 2.7 2.2 1.7 3.4 Long-term debt .. 0.9 1.1 1.3 1.6 2.0 2.6 2.2 1.7 3.4 IMF repurchases .. 0.0 0.0 0.2 0.2 0.2 0.1 0.0 0.0 0.0 Net flows on debt .. 7.0 9.2 4.7 5.2 5.4 20.4 8.9 4.6 5.5 of which short-term debt .. -2.0 -5.3 -5.0 2.0 1.0 7.0 0.0 -2.0 5.0 Interest payments (INT) .. 0.3 1.7 1.5 1.7 1.6 1.7 2.0 2.2 2.7 Long-term debt .. 0.2 1.2 1.4 1.5 1.3 1.4 1.2 1.8 2.5 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. 0.1 0.5 0.1 0.2 0.3 0.3 0.8 0.4 0.2 Net transfers on debt .. 6.7 7.4 3.2 3.4 3.8 18.7 6.9 2.3 2.8 Total debt service paid (TDS) .. 1.2 2.8 3.1 3.6 3.8 4.4 4.2 3.9 6.1 Long-term debt .. 1.1 2.3 2.7 3.2 3.3 4.0 3.4 3.5 5.9 IMF repurchases and charges .. 0.0 0.0 0.2 0.2 0.2 0.1 0.0 0.0 0.0 Short-term debt (interest only) .. 0.1 0.5 0.1 0.2 0.3 0.3 0.8 0.4 0.2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 11.7 41.1 28.1 19.9 19.8 25.8 23.6 24.1 13.9 Net flow of long-term debt (ex. IMF) .. 9.0 14.4 9.9 3.4 4.7 13.5 6.4 6.6 0.5 Foreign direct investment (net) .. 0.0 0.0 0.3 0.1 4.2 3.0 3.8 3.5 3.0 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. 2.7 26.7 17.9 16.4 10.9 9.3 13.3 14.1 10.4 Memo: 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 11.4 Interest on long-term debt .. 0.2 1.2 1.4 1.5 1.3 1.4 1.2 1.8 2.5 Profit remittances on FDI .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 49.2 52.5 40.2 39.1 35.8 42.2 43.5 43.3 46.4 Exports of goods, serv. & inc. (XGS) .. 23.3 8.2 .. .. 11.8 16.9 16.7 16.7 19.2 Worker remit. & comp. of employees .. 1.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. 22.0 22.4 .. .. 32.4 39.1 39.7 41.1 46.2 International reserves (RES) .. .. .. 5.0 12.4 9.7 10.9 11.6 15.5 17.4 Current 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 1,738.7 EDT / GNI (%) .. 47.6 286.0 582.1 606.1 717.5 756.4 724.2 722.3 717.9 TDS / XGS (%) .. 5.0 34.4 .. .. 32.1 25.8 25.2 23.7 31.8 INT / XGS (%) .. 1.1 20.7 .. .. 13.6 9.8 12.1 13.5 14.1 INT / GNI (%) .. 0.5 3.3 3.7 4.5 4.5 3.9 4.7 5.2 5.8 RES / EDT (%) .. .. .. 2.1 5.2 3.8 3.4 3.7 5.0 5.2 RES / MGS (months) .. .. .. .. .. 3.6 3.3 3.5 4.5 4.5 Short-term / EDT (%) .. 0.0 10.7 3.4 4.5 5.5 9.2 6.0 5.4 6.9 Concessional / EDT (%) .. 83.6 71.7 93.0 92.4 91.9 88.8 88.3 88.4 86.6 Multilateral / EDT (%) .. 45.0 48.4 66.3 63.6 65.1 53.2 53.7 54.0 55.3 441 SAO TOME AND PRINCIPE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 23.5 132.9 225.7 226.0 242.8 290.2 293.6 293.4 307.9 Public and publicly guaranteed .. 23.5 132.9 225.7 226.0 242.8 290.2 293.6 293.4 307.9 Official creditors .. 23.1 131.7 225.7 226.0 242.8 290.2 293.6 293.4 307.9 Multilateral .. 10.6 72.6 155.2 150.7 167.2 170.0 169.3 168.8 184.5 Concessional .. 10.6 69.1 153.4 149.2 165.9 168.7 165.6 164.7 179.7 Bilateral .. 12.6 59.2 70.5 75.3 75.6 120.2 124.3 124.6 123.4 Concessional .. 9.1 38.6 64.5 69.6 70.2 115.1 112.5 111.9 108.9 Private creditors .. 0.4 1.1 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 .. 0.4 1.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 23.9 59.5 57.4 61.3 60.7 58.9 61.0 65.6 DISBURSEMENTS .. 9.9 15.6 11.2 5.1 6.6 16.1 8.6 8.3 3.9 Public and publicly guaranteed .. 9.9 15.6 11.2 5.1 6.6 16.1 8.6 8.3 3.9 Official creditors .. 9.9 15.6 11.2 5.1 6.6 16.1 8.6 8.3 3.9 Multilateral .. 6.5 12.8 11.2 5.1 6.4 15.5 8.4 8.1 3.1 Concessional .. 6.5 11.7 11.2 5.1 6.4 11.0 5.8 7.2 2.9 Bilateral .. 3.4 2.7 0.0 0.0 0.2 0.6 0.2 0.2 0.7 Concessional .. 1.4 2.7 0.0 0.0 0.2 0.6 0.2 0.2 0.7 Private creditors .. 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 .. 0.0 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 0.0 0.0 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 5.4 8.0 1.5 1.9 1.0 1.7 5.0 0.9 PRINCIPAL REPAYMENTS .. 0.9 1.1 1.3 1.6 2.0 2.6 2.2 1.7 3.4 Public and publicly guaranteed .. 0.9 1.1 1.3 1.6 2.0 2.6 2.2 1.7 3.4 Official creditors .. 0.9 1.0 1.3 1.6 2.0 2.6 2.2 1.7 3.4 Multilateral .. 0.0 0.4 1.0 1.3 1.4 1.7 1.9 1.6 2.7 Concessional .. 0.0 0.4 0.7 1.2 1.2 1.5 1.6 1.4 2.5 Bilateral .. 0.9 0.6 0.3 0.3 0.5 0.9 0.3 0.1 0.7 Concessional .. 0.2 0.0 0.0 0.0 0.2 0.5 0.0 0.1 0.4 Private 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 0.0 Private 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 0.0 Memo: 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 0.2 0.2 0.2 0.5 0.2 0.0 NET FLOWS ON DEBT .. 9.0 14.4 9.9 3.4 4.7 13.5 6.4 6.6 0.5 Public and publicly guaranteed .. 9.0 14.4 9.9 3.4 4.7 13.5 6.4 6.6 0.5 Official 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 0.3 Private 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 0.0 Private 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 0.0 Memo: 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 0.9 442 SAO TOME AND PRINCIPE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 0.2 1.2 1.4 1.5 1.3 1.4 1.2 1.8 2.5 Public and publicly guaranteed .. 0.2 1.2 1.4 1.5 1.3 1.4 1.2 1.8 2.5 Official creditors .. 0.2 1.1 1.4 1.5 1.3 1.4 1.2 1.8 2.5 Multilateral .. 0.0 0.3 1.3 1.0 1.2 1.2 1.2 0.5 1.2 Concessional .. 0.0 0.3 1.2 1.0 1.2 1.2 1.2 0.5 1.1 Bilateral .. 0.2 0.9 0.1 0.6 0.1 0.2 0.0 1.4 1.3 Concessional .. 0.0 0.1 0.1 0.6 0.1 0.2 0.0 0.8 0.9 Private 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 0.0 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.1 0.5 0.4 0.4 0.4 0.5 0.2 0.0 NET TRANSFERS ON DEBT .. 8.8 13.2 8.5 1.9 3.3 12.1 5.2 4.7 -2.0 Public and publicly guaranteed .. 8.8 13.2 8.5 1.9 3.3 12.1 5.2 4.7 -2.0 Official 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 -0.6 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) .. 1.1 2.3 2.7 3.2 3.3 4.0 3.4 3.5 5.9 Public and publicly guaranteed .. 1.1 2.3 2.7 3.2 3.3 4.0 3.4 3.5 5.9 Official creditors .. 1.1 2.2 2.7 3.2 3.3 4.0 3.4 3.5 5.9 Multilateral .. 0.0 0.7 2.2 2.3 2.6 2.9 3.1 2.1 3.9 Concessional .. 0.0 0.7 1.9 2.1 2.4 2.7 2.9 1.8 3.6 Bilateral .. 1.1 1.4 0.5 0.9 0.7 1.0 0.3 1.5 1.9 Concessional .. 0.2 0.1 0.1 0.6 0.3 0.7 0.0 0.9 1.3 Private 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 0.0 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.1 0.5 0.6 0.7 0.6 0.9 0.4 0.0 UNDISBURSED DEBT .. 32.1 87.5 48.5 50.4 45.2 25.4 32.8 35.9 35.7 Official creditors .. 32.1 87.5 48.5 50.4 45.2 25.4 32.8 35.9 35.7 Private creditors .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. 19.6 107.6 217.8 218.8 236.1 283.8 278.1 276.6 288.6 Variable rate LDOD .. 0.0 0.0 0.0 0.0 0.0 0.0 7.1 8.0 10.5 Public sector LDOD .. 23.5 132.9 225.7 226.0 242.8 290.2 293.6 293.4 307.9 Private sector LDOD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 3.8 4.6 Deutsche mark .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc .. 0.0 4.0 4.1 3.5 3.4 2.3 2.2 .. .. Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 4.7 4.5 4.4 5.1 U.S.dollars .. 63.1 39.3 40.3 44.8 43.0 43.4 43.5 44.5 44.8 Multiple currency .. 0.0 43.6 47.7 46.0 45.6 38.2 36.4 35.2 35.7 Special drawing rights .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. 36.9 13.2 7.9 5.7 8.0 11.4 13.4 12.1 9.8 443 SAO TOME AND PRINCIPE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0.0 0.0 11.2 0.0 7.8 23.5 1.7 3.5 Debt stock rescheduled .. .. 0.0 0.0 2.1 0.0 7.3 2.4 0.0 0.0 Principal rescheduled .. .. 0.0 0.0 2.6 0.0 8.3 13.7 0.7 2.4 Official .. .. 0.0 0.0 2.6 0.0 8.3 13.7 0.7 2.4 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 0.2 9.8 1.0 1.0 Official .. .. 0.0 0.0 0.0 0.0 0.2 9.8 1.0 1.0 Private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiven .. .. 0.0 0.0 0.0 0.0 0.0 4.8 1.4 2.1 Memo: interest forgiven .. .. 0.0 0.0 0.0 0.0 0.0 1.7 1.0 0.8 Debt stock reduction .. .. 0.0 0.0 0.0 0.0 0.0 4.8 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 4.0 0.8 3.0 1.6 2.1 0.0 1.0 0.8 0.9 Maturity (years) .. 11.1 35.8 16.5 38.1 12.8 0.0 39.5 41.1 20.8 Grace period (years) .. 4.4 10.1 5.0 8.6 4.4 0.0 9.6 11.3 7.8 Grant element (%) .. 31.5 76.6 43.0 68.1 41.2 0.0 77.3 81.1 63.6 Official creditors Interest (%) .. 4.0 0.8 3.0 1.6 2.1 0.0 1.0 0.8 0.9 Maturity (years) .. 11.1 35.8 16.5 38.1 12.8 0.0 39.5 41.1 20.8 Grace period (years) .. 4.4 10.1 5.0 8.6 4.4 0.0 9.6 11.3 7.8 Grant element (%) .. 31.5 76.6 43.0 68.1 41.2 0.0 77.3 81.1 63.6 Private creditors Interest (%) .. 0.0 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 0.0 Grace period (years) .. 0.0 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 0.0 0.0 Memorandum items Commitments .. 8 36 1 9 0 0 17 12 2 Official creditors .. 8 36 1 9 0 0 17 12 2 Private creditors .. 0 0 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 3.9 12.0 8.2 5.8 3.8 2.5 1.7 1.1 0.4 0.2 Principal 3.4 8.3 8.4 9.7 9.8 10.5 11.1 11.3 11.3 11.4 Interest 2.5 3.8 3.9 3.8 3.7 3.5 3.4 3.2 3.1 2.9 Official creditors Disbursements 3.9 12.0 8.2 5.8 3.8 2.5 1.7 1.1 0.4 0.2 Principal 3.4 8.3 8.4 9.7 9.8 10.5 11.1 11.3 11.3 11.4 Interest 2.5 3.8 3.9 3.8 3.7 3.5 3.4 3.2 3.1 2.9 Bilateral creditors Disbursements 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.7 3.9 3.9 5.0 5.0 4.9 4.8 4.7 4.7 4.7 Interest 1.3 2.3 2.2 2.1 2.0 1.9 1.8 1.7 1.6 1.5 Multilateral creditors Disbursements 3.1 12.0 8.2 5.8 3.8 2.5 1.7 1.1 0.4 0.2 Principal 2.7 4.4 4.5 4.7 4.8 5.7 6.4 6.6 6.7 6.7 Interest 1.2 1.6 1.7 1.7 1.7 1.6 1.6 1.5 1.5 1.4 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 444 SENEGAL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 145 1,473 3,736 3,690 3,687 3,883 3,766 3,428 3,482 3,918 Long-term debt (LDOD) 145 1,114 3,000 3,182 3,181 3,318 3,186 3,027 3,033 3,372 Public and publicly guaranteed 114 1,105 2,940 3,143 3,126 3,295 3,172 3,014 2,982 3,339 Private nonguaranteed 31 9 60 39 55 22 14 13 51 33 Use of IMF credit 0 140 314 326 292 293 272 255 248 253 Short-term debt 0 219 421 182 213 273 308 147 201 293 of which interest arrears on LDOD 0 0 4 2 2 2 2 2 2 2 Official creditors 0 0 3 2 2 2 2 2 1 2 Private creditors 0 0 0 1 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 0 0 13 12 12 12 31 27 28 Official creditors 0 0 0 2 2 2 3 23 19 19 Private creditors 0 0 0 12 10 10 9 8 8 9 Memo: export credits 0 0 812 569 493 234 204 173 136 236 TOTAL DEBT FLOWS Disbursements 20 395 252 216 270 255 92 148 273 253 Long-term debt 20 327 223 181 221 206 72 129 244 241 IMF purchases 0 68 29 35 49 48 20 19 30 12 Principal repayments 9 165 197 160 158 215 161 144 142 147 Long-term debt 9 156 142 116 95 155 129 123 120 124 IMF repurchases 0 8 55 44 63 60 33 21 23 23 Net flows on debt 11 246 222 -14 143 100 -34 -157 185 198 of which short-term debt 0 16 167 -70 31 60 35 -161 54 92 Interest payments (INT) 2 95 128 129 89 106 76 74 63 72 Long-term debt 2 67 84 119 75 89 58 57 56 66 IMF charges 0 3 15 3 3 2 1 1 1 1 Short-term debt 0 24 29 7 11 15 17 15 6 5 Net transfers on debt 8 151 94 -143 53 -7 -111 -231 122 126 Total debt service paid (TDS) 12 259 325 289 248 321 237 217 206 219 Long-term debt 12 223 226 234 171 244 186 180 176 190 IMF repurchases and charges 0 12 70 48 66 63 34 22 24 24 Short-term debt (interest only) 0 24 29 7 11 15 17 15 6 5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 32 262 692 408 549 377 480 315 304 388 Net flow of long-term debt (ex. IMF) 11 170 81 66 126 52 -56 6 124 117 Foreign direct investment (net) 5 15 57 8 176 71 157 63 32 93 Portfolio equity flows 0 0 1 0 8 3 3 0 0 0 Grants (excluding technical coop.) 16 77 553 334 238 252 376 246 148 178 Memo: 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 29 161 548 276 457 243 348 211 203 282 Interest on long-term debt 2 67 84 119 75 89 58 57 56 66 Profit remittances on FDI 0 34 60 14 17 45 74 47 45 40 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 855 2,887 5,502 4,564 4,302 4,599 4,658 4,283 4,523 4,897 Exports of goods, serv. & inc. (XGS) .. 905 1,628 1,530 1,437 1,560 1,656 1,502 1,570 1,696 Worker remit. & comp. of employees 0 77 142 151 151 147 186 184 174 174 Imports of goods & services (MGS) .. 1,337 2,053 1,814 1,708 1,888 2,006 1,943 2,024 2,254 International reserves (RES) 22 25 22 288 386 431 403 384 447 637 Current account balance .. -386 -363 -200 -185 -247 -320 -318 -271 -478 4. DEBT INDICATORS EDT / XGS (%) .. 162.7 229.5 241.1 256.6 248.8 227.4 228.2 221.8 231.1 EDT / GNI (%) 17.0 51.0 67.9 80.9 85.7 84.4 80.8 80.0 77.0 80.0 TDS / XGS (%) .. 28.7 20.0 18.9 17.2 20.6 14.3 14.5 13.1 12.9 INT / XGS (%) .. 10.5 7.9 8.4 6.2 6.8 4.6 4.9 4.0 4.2 INT / GNI (%) 0.3 3.3 2.3 2.8 2.1 2.3 1.6 1.7 1.4 1.5 RES / EDT (%) 15.2 1.7 0.6 7.8 10.5 11.1 10.7 11.2 12.8 16.3 RES / MGS (months) .. 0.2 0.1 1.9 2.7 2.7 2.4 2.4 2.7 3.4 Short-term / EDT (%) 0.0 14.9 11.3 4.9 5.8 7.0 8.2 4.3 5.8 7.5 Concessional / EDT (%) 59.8 27.1 52.7 62.7 65.5 72.1 71.9 76.3 75.7 76.2 Multilateral / EDT (%) 9.2 17.9 36.6 50.2 49.2 50.7 50.5 54.0 54.4 55.6 445 SENEGAL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 145 1,114 3,000 3,182 3,181 3,318 3,186 3,027 3,033 3,372 Public and publicly guaranteed 114 1,105 2,940 3,143 3,126 3,295 3,172 3,014 2,982 3,339 Official 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 1,027 978 908 869 929 Private 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 3 Private 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 33 Memo: 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 DISBURSEMENTS 20 327 223 181 221 206 72 129 244 241 Public and publicly guaranteed 19 327 208 181 200 205 71 128 188 232 Official creditors 12 186 207 181 200 205 71 128 186 230 Multilateral 5 93 136 135 100 151 67 119 172 194 Concessional 4 63 127 135 99 136 63 112 167 188 Bilateral 7 94 72 46 100 54 4 8 14 36 Concessional 7 50 72 46 100 53 4 8 11 36 Private creditors 7 141 0 0 0 0 0 0 3 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 23 0 0 0 0 0 0 0 0 Other private 7 117 0 0 0 0 0 0 3 2 Private nonguaranteed 1 0 15 0 21 2 1 1 55 10 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 0 15 0 21 2 1 1 55 10 Memo: IBRD 1 18 0 0 0 0 0 0 0 0 IDA 4 12 117 110 60 85 49 92 119 114 PRINCIPAL REPAYMENTS 9 156 142 116 95 155 129 123 120 124 Public and publicly guaranteed 7 152 130 111 91 138 122 120 103 114 Official creditors 6 19 111 105 89 137 122 120 103 113 Multilateral 0 3 58 69 41 71 77 64 41 49 Concessional 0 0 29 44 20 42 53 47 29 30 Bilateral 6 16 53 36 48 66 44 56 62 65 Concessional 5 7 25 20 27 47 36 38 49 49 Private creditors 0 133 19 6 2 1 0 0 0 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 58 8 5 0 0 0 0 0 0 Other private 0 74 11 1 1 1 0 0 0 1 Private nonguaranteed 3 4 12 5 5 17 7 3 17 10 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 4 12 5 5 17 7 3 17 10 Memo: IBRD 0 2 13 10 7 5 4 3 1 0 IDA 0 0 3 7 8 11 12 11 10 6 NET FLOWS ON DEBT 11 170 81 66 126 52 -56 6 124 117 Public and publicly guaranteed 13 175 78 70 110 67 -51 7 85 117 Official 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 -12 Private 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 1 Private 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 0 Memo: IBRD 1 16 -13 -10 -7 -5 -4 -3 -1 0 IDA 4 12 114 103 52 74 37 81 109 108 446 SENEGAL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 2 67 84 119 75 89 58 57 56 66 Public and publicly guaranteed 2 67 82 118 74 88 57 57 52 65 Official creditors 2 22 71 116 74 88 57 57 52 64 Multilateral 0 6 26 38 27 35 29 25 18 28 Concessional 0 1 9 17 15 17 17 15 14 18 Bilateral 2 15 45 78 47 53 29 32 34 36 Concessional 1 6 20 63 15 20 17 23 20 24 Private creditors 0 45 10 1 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 23 7 1 0 0 0 0 0 0 Other private 0 22 3 0 0 0 0 0 0 0 Private nonguaranteed 0 0 3 1 1 1 1 0 4 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 3 1 1 1 1 0 4 1 Memo: IBRD 0 4 6 2 2 1 1 0 0 0 IDA 0 1 4 8 9 9 9 8 9 10 NET TRANSFERS ON DEBT 8 103 -3 -53 50 -37 -114 -51 68 51 Public and publicly guaranteed 10 108 -4 -47 35 -22 -108 -49 33 53 Official 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 -36 Private 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 1 Private 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 -2 Memo: IBRD 1 12 -19 -12 -9 -7 -5 -3 -1 0 IDA 4 11 110 94 44 65 27 73 100 98 DEBT SERVICE (LTDS) 12 223 226 234 171 244 186 180 176 190 Public and publicly guaranteed 9 219 212 229 165 226 179 177 155 179 Official creditors 9 41 183 221 163 226 179 177 155 178 Multilateral 0 9 84 107 68 106 106 89 59 77 Concessional 0 1 38 61 34 59 70 62 43 47 Bilateral 8 32 98 114 95 119 73 88 96 101 Concessional 6 13 45 83 42 67 53 61 69 73 Private creditors 1 178 29 7 2 1 0 0 0 1 Bonds 0 1 0 0 0 0 0 0 0 0 Commercial banks 0 81 15 6 0 0 0 0 0 0 Other private 0 96 14 1 2 1 0 0 0 1 Private nonguaranteed 3 5 14 6 6 17 7 3 20 12 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 5 14 6 6 17 7 3 20 12 Memo: IBRD 0 6 19 12 9 7 5 3 1 0 IDA 0 1 7 15 17 20 21 19 19 16 UNDISBURSED DEBT 42 604 976 813 746 732 798 942 1,087 1,077 Official creditors 37 563 966 812 746 732 798 937 1,085 1,077 Private creditors 5 41 9 1 1 0 0 5 3 1 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 17.6 18.0 Deutsche mark 23.5 4.6 1.3 1.6 1.4 1.7 1.5 1.6 .. .. French franc 26.9 39.3 25.8 17.5 15.1 14.6 13.3 12.8 .. .. Japanese yen 0.0 0.0 1.5 3.3 2.9 3.1 3.7 3.3 2.6 2.3 Pound sterling 0.0 0.8 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.3 0.9 0.4 0.3 0.3 0.3 0.2 0.2 0.1 U.S.dollars 1.7 23.0 32.9 38.1 41.3 42.3 43.9 46.7 49.2 49.5 Multiple currency 2.0 6.7 8.6 13.9 12.3 11.7 11.5 10.8 9.9 9.3 Special drawing rights 0.0 0.0 0.4 1.2 1.2 1.4 1.5 1.5 1.6 1.7 All other currencies 45.9 25.4 28.3 23.9 25.3 24.6 24.2 23.1 18.8 18.9 447 SENEGAL (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 111 58 12 306 30 0 0 0 Debt stock rescheduled .. .. 0 0 0 305 0 0 0 0 Principal rescheduled .. .. 76 25 4 0 1 0 0 0 Official .. .. 57 25 4 0 1 0 0 0 Private .. .. 18 0 0 0 0 0 0 0 Interest rescheduled .. .. 27 28 1 0 0 0 0 0 Official .. .. 23 28 1 0 0 0 0 0 Private .. .. 4 0 0 0 0 0 0 0 Debt forgiven .. .. 18 2 4 0 0 12 21 26 Memo: interest forgiven .. .. 0 6 0 0 0 10 7 2 Debt stock reduction .. .. 0 64 0 16 0 0 0 0 of which debt buyback .. .. 0 5 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.9 5.9 1.9 2.4 1.4 1.0 0.9 0.9 1.2 1.8 Maturity (years) 23.2 20.0 33.5 31.1 40.0 39.2 41.9 39.4 33.5 35.0 Grace period (years) 6.8 5.6 8.7 9.7 10.2 9.5 9.9 9.7 8.0 9.7 Grant element (%) 43.8 30.2 66.2 61.5 75.0 77.0 79.7 78.2 70.3 68.8 Official creditors Interest (%) 2.3 5.4 1.9 2.4 1.4 1.0 0.9 0.7 1.2 1.8 Maturity (years) 30.6 21.3 33.8 31.1 40.0 39.2 41.9 40.1 33.5 35.0 Grace period (years) 8.8 6.0 8.8 9.7 10.2 9.5 9.9 9.9 8.0 9.7 Grant element (%) 59.6 33.7 66.8 61.5 75.0 77.0 79.7 79.9 70.3 68.8 Private creditors Interest (%) 7.5 10.8 8.3 0.0 0.0 0.0 0.0 7.6 0.0 0.0 Maturity (years) 5.9 8.3 10.1 0.0 0.0 0.0 0.0 8.3 0.0 0.0 Grace period (years) 2.2 2.5 2.6 0.0 0.0 0.0 0.0 1.3 0.0 0.0 Grant element (%) 6.8 -0.7 6.6 0.0 0.0 0.0 0.0 7.8 0.0 0.0 Memorandum items Commitments 7 469 365 162 182 167 178 225 371 145 Official creditors 5 421 361 162 182 167 178 220 371 145 Private creditors 2 48 4 0 0 0 0 5 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 252 197 165 128 105 76 56 34 27 13 Principal 153 244 146 140 137 139 139 141 133 126 Interest 68 58 56 54 52 50 47 45 43 40 Official creditors Disbursements 251 197 165 128 105 76 56 34 27 13 Principal 149 239 141 136 132 134 135 137 133 126 Interest 66 57 55 53 51 49 47 45 43 40 Bilateral creditors Disbursements 59 41 25 15 9 5 4 4 2 1 Principal 81 170 69 62 58 55 51 44 37 35 Interest 42 32 30 28 26 25 24 22 21 20 Multilateral creditors Disbursements 192 156 139 113 95 71 52 31 25 12 Principal 68 68 72 74 74 79 84 93 96 91 Interest 25 25 25 25 25 24 23 23 21 20 Private creditors Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 5 5 5 5 5 5 4 4 0 0 Interest 1 1 1 1 1 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 1 0 0 0 0 0 0 0 0 0 Principal 5 5 5 5 5 5 4 4 0 0 Interest 1 1 1 1 1 0 0 0 0 0 448 SERBIA AND MONTENEGRO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 9,762 10,968 11,250 11,253 11,851 12,515 12,688 Long-term debt (LDOD) .. .. .. 7,731 7,124 7,243 6,845 6,828 6,628 8,793 Public and publicly guaranteed .. .. .. 6,566 6,148 6,500 6,234 6,217 6,226 8,514 Private nonguaranteed .. .. .. 1,165 976 743 611 611 402 279 Use of IMF credit .. .. .. 81 76 79 76 152 273 567 Short-term debt .. .. .. 1,951 3,769 3,928 4,332 4,871 5,614 3,328 of 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 1,315 Memo: 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 1,214 Memo: export credits .. .. .. 448 582 1,620 1,965 1,918 1,899 1,657 TOTAL DEBT FLOWS Disbursements .. .. .. 0 0 0 0 376 325 609 Long-term debt .. .. .. 0 0 0 0 222 198 350 IMF purchases .. .. .. 0 0 0 0 154 127 259 Principal repayments .. .. .. 1 0 0 1 73 31 6 Long-term debt .. .. .. 0 0 0 0 0 31 6 IMF repurchases .. .. .. 1 0 0 1 73 0 0 Net flows on debt .. .. .. -458 1,728 -705 -168 51 429 598 of which short-term debt .. .. .. -457 1,728 -705 -167 -252 135 -5 Interest payments (INT) .. .. .. 17 53 65 41 47 76 144 Long-term debt .. .. .. 0 0 0 0 0 16 100 IMF charges .. .. .. 0 0 0 0 29 7 12 Short-term debt .. .. .. 17 53 65 41 18 52 33 Net transfers on debt .. .. .. -476 1,676 -770 -209 4 353 454 Total debt service paid (TDS) .. .. .. 19 53 65 42 120 107 150 Long-term debt .. .. .. 0 0 0 0 0 47 106 IMF repurchases and charges .. .. .. 1 0 0 1 102 7 12 Short-term debt (interest only) .. .. .. 17 53 65 41 18 52 33 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 465 872 288 1,202 1,545 1,546 3,147 Net flow of long-term debt (ex. IMF) .. .. .. 0 0 0 0 222 167 344 Foreign direct investment (net) .. .. .. 0 740 113 112 25 165 475 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 465 132 175 1,090 1,298 1,214 2,328 Memo: 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 3,047 Interest on long-term debt .. .. .. 0 0 0 0 0 16 100 Profit remittances on FDI .. .. .. 0 0 0 0 0 0 0 Memo: official net transfers .. .. .. 465 132 175 1,090 1,485 1,355 2,541 private net transfers .. .. .. 0 740 113 112 60 175 506 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. .. .. .. 9,800 8,082 11,550 15,569 Exports of goods, serv. & inc. (XGS) .. .. .. 4,071 4,295 5,037 3,138 3,732 4,489 5,392 Worker remit. & comp. of employees .. .. .. 0 0 0 0 0 1,397 1,397 Imports of goods & services (MGS) .. .. .. 4,402 5,222 5,319 3,622 4,046 5,234 7,030 International reserves (RES) .. .. .. .. .. .. .. .. .. .. Current account balance .. .. .. -617 -1,279 -660 -764 -327 -528 -1,384 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 239.8 255.4 223.3 358.6 317.6 278.8 235.3 EDT / GNI (%) .. .. .. .. .. .. 114.8 146.6 108.4 81.5 TDS / XGS (%) .. .. .. 0.5 1.2 1.3 1.3 3.2 2.4 2.8 INT / XGS (%) .. .. .. 0.4 1.2 1.3 1.3 1.3 1.7 2.7 INT / GNI (%) .. .. .. .. .. .. 0.4 0.6 0.7 0.9 RES / EDT (%) .. .. .. .. .. .. .. .. .. .. RES / MGS (months) .. .. .. .. .. .. .. .. .. .. Short-term / EDT (%) .. .. .. 20.0 34.4 34.9 38.5 41.1 44.9 26.2 Concessional / EDT (%) .. .. .. 3.5 2.8 2.9 2.6 2.3 2.2 20.6 Multilateral / EDT (%) .. .. .. 12.6 11.4 13.5 13.2 12.1 10.9 25.5 449 SERBIA AND MONTENEGRO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 7,731 7,124 7,243 6,845 6,828 6,628 8,793 Public and publicly guaranteed .. .. .. 6,566 6,148 6,500 6,234 6,217 6,226 8,514 Official 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 2,452 Private 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 0 Private nonguaranteed .. .. .. 1,165 976 743 611 611 402 279 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1,165 976 743 611 611 402 279 Memo: IBRD .. .. .. 1,178 1,112 1,148 1,132 1,097 1,085 2,251 IDA .. .. .. 0 0 0 0 0 0 167 DISBURSEMENTS .. .. .. 0 0 0 0 222 198 350 Public and publicly guaranteed .. .. .. 0 0 0 0 222 198 316 Official creditors .. .. .. 0 0 0 0 187 187 316 Multilateral .. .. .. 0 0 0 0 0 8 248 Concessional .. .. .. 0 0 0 0 0 0 159 Bilateral .. .. .. 0 0 0 0 187 179 68 Concessional .. .. .. 0 0 0 0 0 15 37 Private creditors .. .. .. 0 0 0 0 35 11 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 11 0 Other private .. .. .. 0 0 0 0 35 0 0 Private nonguaranteed .. .. .. 0 0 0 0 0 0 34 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 0 34 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 159 PRINCIPAL REPAYMENTS .. .. .. 0 0 0 0 0 31 6 Public and publicly guaranteed .. .. .. 0 0 0 0 0 31 4 Official creditors .. .. .. 0 0 0 0 0 30 4 Multilateral .. .. .. 0 0 0 0 0 0 4 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 30 0 Concessional .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 1 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 1 0 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 0 0 0 0 0 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 0 2 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 0 0 0 0 222 167 344 Public and publicly guaranteed .. .. .. 0 0 0 0 222 167 311 Official 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 37 Private 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 0 Private 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 32 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 159 450 SERBIA AND MONTENEGRO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 0 0 0 0 0 16 100 Public and publicly guaranteed .. .. .. 0 0 0 0 0 16 99 Official creditors .. .. .. 0 0 0 0 0 16 99 Multilateral .. .. .. 0 0 0 0 0 5 84 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 12 14 Concessional .. .. .. 0 0 0 0 0 0 13 Private 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 0 Private nonguaranteed .. .. .. 0 0 0 0 0 0 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 0 1 Memo: IBRD .. .. .. 0 0 0 0 0 5 75 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 0 0 0 0 222 150 244 Public and publicly guaranteed .. .. .. 0 0 0 0 222 150 213 Official 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 24 Private 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 0 Private 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 31 Memo: IBRD .. .. .. 0 0 0 0 0 -5 -75 IDA .. .. .. 0 0 0 0 0 0 159 DEBT SERVICE (LTDS) .. .. .. 0 0 0 0 0 47 106 Public and publicly guaranteed .. .. .. 0 0 0 0 0 47 103 Official creditors .. .. .. 0 0 0 0 0 46 103 Multilateral .. .. .. 0 0 0 0 0 5 89 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 0 42 14 Concessional .. .. .. 0 0 0 0 0 0 13 Private creditors .. .. .. 0 0 0 0 0 1 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 1 0 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 0 0 0 0 0 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 0 3 Memo: IBRD .. .. .. 0 0 0 0 0 5 75 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 212 187 0 300 299 502 856 Official creditors .. .. .. 212 187 0 300 299 502 856 Private creditors .. .. .. 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 18.0 17.7 Deutsche mark .. .. .. 9.7 9.0 9.1 8.1 7.5 .. .. French franc .. .. .. 7.7 7.2 6.8 6.1 5.7 .. .. Japanese yen .. .. .. 1.8 1.7 1.9 2.2 2.0 1.7 0.0 Pound sterling .. .. .. 0.7 0.8 0.7 0.5 0.5 0.5 0.0 Swiss franc .. .. .. 3.2 3.1 3.1 2.8 2.7 2.7 1.6 U.S.dollars .. .. .. 21.1 19.4 21.8 22.7 25.1 27.6 63.1 Multiple currency .. .. .. 47.4 49.6 47.4 49.2 48.8 48.5 17.2 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 8.3 9.2 9.1 8.3 7.7 1.1 0.3 451 SERBIA AND MONTENEGRO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 2 Debt forgiven .. .. .. 0 0 0 0 0 0 858 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 114 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 0.0 0.0 0.0 6.6 4.1 6.8 2.4 Maturity (years) .. .. .. 0.0 0.0 0.0 8.4 14.9 18.3 19.3 Grace period (years) .. .. .. 0.0 0.0 0.0 2.2 4.9 4.6 7.3 Grant element (%) .. .. .. 0.0 0.0 0.0 12.3 36.1 18.4 51.9 Official creditors Interest (%) .. .. .. 0.0 0.0 0.0 6.6 0.4 6.8 2.4 Maturity (years) .. .. .. 0.0 0.0 0.0 8.4 23.2 18.3 19.3 Grace period (years) .. .. .. 0.0 0.0 0.0 2.2 7.8 4.6 7.3 Grant element (%) .. .. .. 0.0 0.0 0.0 12.3 65.1 18.4 51.9 Private creditors Interest (%) .. .. .. 0.0 0.0 0.0 0.0 7.8 0.0 0.0 Maturity (years) .. .. .. 0.0 0.0 0.0 0.0 6.4 0.0 0.0 Grace period (years) .. .. .. 0.0 0.0 0.0 0.0 1.9 0.0 0.0 Grant element (%) .. .. .. 0.0 0.0 0.0 0.0 6.4 0.0 0.0 Memorandum items Commitments .. .. .. 0 0 0 300 71 547 585 Official creditors .. .. .. 0 0 0 300 36 547 585 Private creditors .. .. .. 0 0 0 0 35 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 239 210 121 53 28 14 3 3 2 1 Principal 522 488 565 584 289 359 369 293 296 330 Interest 248 236 221 204 185 170 154 139 128 118 Official creditors Disbursements 239 210 121 53 28 14 3 3 2 1 Principal 126 120 196 214 287 357 369 293 296 330 Interest 189 188 184 179 169 158 145 133 125 118 Bilateral creditors Disbursements 18 22 14 6 2 2 0 0 0 0 Principal 62 56 45 38 103 173 184 161 160 165 Interest 91 88 86 85 83 80 76 72 68 64 Multilateral creditors Disbursements 221 188 107 47 26 12 3 3 2 1 Principal 64 64 151 175 184 184 185 133 136 165 Interest 98 100 99 94 86 77 68 61 57 53 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 397 368 369 371 2 2 0 0 0 0 Interest 60 48 36 25 16 13 9 6 3 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 367 367 367 367 0 0 0 0 0 0 Interest 30 22 14 6 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 29 1 2 3 2 2 0 0 0 0 Interest 30 25 22 19 16 13 9 6 3 0 452 SEYCHELLES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 84.1 163.2 148.0 149.1 187.0 175.1 214.8 230.5 252.7 Long-term debt (LDOD) .. 25.1 117.2 138.1 131.3 145.4 134.8 131.3 132.2 149.3 Public and publicly guaranteed .. 25.1 117.2 138.1 131.3 145.4 134.8 131.3 132.2 149.3 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. 59.0 46.0 9.8 17.8 41.6 40.3 83.6 98.3 103.4 of which interest arrears on LDOD .. 0.0 1.2 2.9 3.8 3.8 3.5 4.7 7.8 12.4 Official creditors .. 0.0 0.6 1.4 2.3 2.8 2.6 4.7 7.8 11.5 Private creditors .. 0.0 0.7 1.5 1.5 1.0 0.8 0.0 0.0 0.9 Memo: principal arrears on LDOD .. 0.0 9.3 22.4 23.7 21.7 20.0 20.6 25.9 41.7 Official creditors .. 0.0 7.1 11.6 13.2 12.3 11.9 20.6 24.3 40.7 Private creditors .. 0.0 2.1 10.8 10.4 9.4 8.1 0.0 1.6 1.0 Memo: export credits .. 0.0 45.0 37.9 46.1 12.7 20.1 12.1 23.2 19.6 TOTAL DEBT FLOWS Disbursements .. 11.7 9.2 12.2 11.2 22.9 11.4 15.7 11.3 11.8 Long-term debt .. 11.7 9.2 12.2 11.2 22.9 11.4 15.7 11.3 11.8 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 0.1 12.7 10.3 9.5 13.3 16.5 7.8 7.0 10.9 Long-term debt .. 0.1 12.7 10.3 9.5 13.3 16.5 7.8 7.0 10.9 IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. -390.3 6.7 -2.2 8.8 33.4 -6.1 49.9 16.1 1.4 of which short-term debt .. -402.0 10.2 -4.1 7.1 23.8 -1.0 42.0 11.7 0.5 Interest payments (INT) .. 37.1 9.0 5.0 5.3 7.7 7.6 6.2 4.4 3.7 Long-term debt .. 0.2 5.5 4.5 4.8 6.4 5.5 2.5 1.3 2.1 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. 36.9 3.6 0.5 0.5 1.3 2.1 3.7 3.0 1.7 Net transfers on debt .. -427.5 -2.4 -7.3 3.4 25.7 -13.7 43.7 11.7 -2.3 Total debt service paid (TDS) .. 37.2 21.7 15.4 14.8 21.0 24.0 14.0 11.3 14.6 Long-term debt .. 0.3 18.2 14.9 14.3 19.6 21.9 10.3 8.3 13.0 IMF repurchases and charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. 36.9 3.6 0.5 0.5 1.3 2.1 3.7 3.0 1.7 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 26.8 28.3 37.8 60.5 71.0 57.4 43.4 73.4 66.6 Net flow of long-term debt (ex. IMF) .. 11.7 -3.5 1.8 1.7 9.6 -5.1 7.9 4.4 0.9 Foreign direct investment (net) .. 9.5 20.2 28.8 53.4 53.2 55.2 24.3 59.4 61.4 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. 5.7 11.6 7.2 5.4 8.2 7.3 11.2 9.6 4.3 Memo: 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 58.6 Interest on long-term debt .. 0.2 5.5 4.5 4.8 6.4 5.5 2.5 1.3 2.1 Profit remittances on FDI .. 7.6 8.3 9.6 6.1 6.0 7.6 7.0 6.0 6.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 142.0 355.4 488.0 550.7 587.4 598.1 575.1 587.0 630.3 Exports of goods, serv. & inc. (XGS) .. 102.8 240.6 344.2 379.1 375.8 431.4 498.2 522.4 552.1 Worker remit. & comp. of employees .. 0.0 7.5 0.7 0.2 0.1 0.2 0.2 1.5 1.6 Imports of goods & services (MGS) .. 131.4 264.6 406.6 453.0 492.1 558.0 543.9 643.3 677.5 International reserves (RES) .. 18.4 16.6 21.8 26.3 21.6 30.3 43.8 37.1 69.8 Current account balance .. -15.6 -13.0 -52.4 -66.1 -106.3 -116.8 -40.5 -117.9 -124.1 4. DEBT INDICATORS EDT / XGS (%) .. 81.9 67.8 43.0 39.3 49.8 40.6 43.1 44.1 45.8 EDT / GNI (%) .. 59.2 45.9 30.3 27.1 31.8 29.3 37.4 39.3 40.1 TDS / XGS (%) .. 36.2 9.0 4.5 3.9 5.6 5.6 2.8 2.2 2.7 INT / XGS (%) .. 36.1 3.8 1.5 1.4 2.1 1.8 1.2 0.8 0.7 INT / GNI (%) .. 26.2 2.5 1.0 1.0 1.3 1.3 1.1 0.7 0.6 RES / EDT (%) .. 21.9 10.2 14.7 17.7 11.5 17.3 20.4 16.1 27.6 RES / MGS (months) .. 1.7 0.8 0.6 0.7 0.5 0.7 1.0 0.7 1.2 Short-term / EDT (%) .. 70.1 28.2 6.7 11.9 22.2 23.0 38.9 42.6 40.9 Concessional / EDT (%) .. 22.4 43.2 46.3 46.1 38.7 41.0 38.9 35.7 38.7 Multilateral / EDT (%) .. 5.4 25.9 37.7 36.1 31.1 31.2 25.1 22.6 22.2 453 SEYCHELLES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 25.1 117.2 138.1 131.3 145.4 134.8 131.3 132.2 149.3 Public and publicly guaranteed .. 25.1 117.2 138.1 131.3 145.4 134.8 131.3 132.2 149.3 Official creditors .. 25.1 97.9 108.4 106.1 114.4 110.8 119.4 115.9 134.2 Multilateral .. 4.5 42.3 55.8 53.9 58.1 54.6 53.8 52.1 56.2 Concessional .. 2.5 19.8 21.8 20.8 21.6 21.3 23.7 24.3 25.7 Bilateral .. 20.6 55.6 52.6 52.3 56.3 56.2 65.6 63.8 78.0 Concessional .. 16.3 50.7 46.8 48.0 50.7 50.4 59.8 58.1 72.2 Private creditors .. 0.0 19.3 29.7 25.1 31.0 24.0 11.8 16.3 15.1 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 16.4 16.9 14.2 17.0 13.1 3.7 9.0 8.5 Other private .. 0.0 2.8 12.8 10.9 13.9 10.9 8.1 7.3 6.6 Private 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 0.0 Memo: IBRD .. 0.0 5.8 4.4 3.6 3.6 3.7 2.9 2.3 2.5 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DISBURSEMENTS .. 11.7 9.2 12.2 11.2 22.9 11.4 15.7 11.3 11.8 Public and publicly guaranteed .. 11.7 9.2 12.2 11.2 22.9 11.4 15.7 11.3 11.8 Official creditors .. 11.7 7.6 11.5 11.2 13.2 10.9 15.7 1.5 3.8 Multilateral .. 3.5 3.4 6.0 5.5 7.3 3.9 4.1 1.1 0.2 Concessional .. 1.6 1.2 0.6 0.6 1.2 0.9 3.3 1.0 0.2 Bilateral .. 8.2 4.1 5.5 5.7 5.8 7.0 11.6 0.3 3.6 Concessional .. 4.5 4.1 3.5 5.6 4.5 6.7 11.4 0.3 3.6 Private creditors .. 0.0 1.6 0.7 0.0 9.7 0.4 0.0 9.9 8.0 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 1.3 0.7 0.0 5.1 0.4 0.0 9.9 8.0 Other private .. 0.0 0.3 0.0 0.0 4.6 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. 0.0 1.4 0.0 0.2 0.5 1.2 0.1 0.0 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS .. 0.1 12.7 10.3 9.5 13.3 16.5 7.8 7.0 10.9 Public and publicly guaranteed .. 0.1 12.7 10.3 9.5 13.3 16.5 7.8 7.0 10.9 Official creditors .. 0.1 4.8 5.4 6.6 8.7 10.7 3.7 1.7 1.1 Multilateral .. 0.0 2.9 3.9 3.9 5.5 6.6 2.1 0.7 0.1 Concessional .. 0.0 0.3 0.7 0.7 0.7 0.8 0.3 0.1 0.0 Bilateral .. 0.1 2.0 1.5 2.6 3.2 4.1 1.6 1.0 1.0 Concessional .. 0.1 1.8 1.5 1.0 3.1 4.1 1.6 1.0 0.9 Private creditors .. 0.0 7.9 5.0 3.0 4.6 5.7 4.1 5.2 9.8 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 6.8 3.0 1.0 3.0 2.7 1.3 4.4 9.0 Other private .. 0.0 1.1 1.9 1.9 1.6 3.0 2.8 0.8 0.8 Private 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 0.0 Memo: IBRD .. 0.0 0.6 0.7 0.6 0.8 1.1 0.7 0.4 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET FLOWS ON DEBT .. 11.7 -3.5 1.8 1.7 9.6 -5.1 7.9 4.4 0.9 Public and publicly guaranteed .. 11.7 -3.5 1.8 1.7 9.6 -5.1 7.9 4.4 0.9 Official 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 2.8 Private 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 -0.8 Private 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 0.0 Memo: 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 0.0 454 SEYCHELLES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 0.2 5.5 4.5 4.8 6.4 5.5 2.5 1.3 2.1 Public and publicly guaranteed .. 0.2 5.5 4.5 4.8 6.4 5.5 2.5 1.3 2.1 Official creditors .. 0.2 3.5 3.1 3.6 4.6 4.7 1.5 0.4 0.6 Multilateral .. 0.2 2.5 2.6 2.9 3.8 3.7 0.9 0.3 0.4 Concessional .. 0.0 0.3 0.4 0.5 0.5 0.5 0.2 0.0 0.3 Bilateral .. 0.1 1.1 0.5 0.7 0.9 1.0 0.6 0.1 0.2 Concessional .. 0.0 0.9 0.5 0.6 0.8 0.8 0.6 0.1 0.2 Private creditors .. 0.0 1.9 1.4 1.2 1.7 0.8 1.0 0.9 1.5 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 1.7 0.3 0.2 0.7 0.1 0.2 0.4 1.1 Other private .. 0.0 0.2 1.1 1.0 1.0 0.8 0.8 0.5 0.4 Private 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 0.0 Memo: IBRD .. 0.0 0.4 0.4 0.3 0.2 0.2 0.2 0.1 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET TRANSFERS ON DEBT .. 11.4 -9.0 -2.7 -3.1 3.2 -10.6 5.4 3.0 -1.1 Public and publicly guaranteed .. 11.4 -9.0 -2.7 -3.1 3.2 -10.6 5.4 3.0 -1.1 Official 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 2.6 Private 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 -1.2 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) .. 0.3 18.2 14.9 14.3 19.6 21.9 10.3 8.3 13.0 Public and publicly guaranteed .. 0.3 18.2 14.9 14.3 19.6 21.9 10.3 8.3 13.0 Official creditors .. 0.3 8.4 8.5 10.2 13.3 15.4 5.2 2.1 1.7 Multilateral .. 0.2 5.4 6.5 6.9 9.3 10.3 3.0 1.0 0.5 Concessional .. 0.0 0.6 1.1 1.2 1.2 1.3 0.5 0.1 0.3 Bilateral .. 0.1 3.0 2.0 3.3 4.0 5.1 2.2 1.1 1.2 Concessional .. 0.1 2.8 2.0 1.6 3.9 5.0 2.2 1.1 1.0 Private creditors .. 0.0 9.8 6.4 4.1 6.3 6.5 5.1 6.2 11.3 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 8.5 3.4 1.2 3.8 2.8 1.5 4.9 10.1 Other private .. 0.0 1.3 3.0 2.9 2.6 3.7 3.6 1.3 1.2 Private 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 0.0 Memo: IBRD .. 0.0 1.0 1.0 0.9 1.0 1.3 0.9 0.5 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 UNDISBURSED DEBT .. 23.9 56.6 46.7 50.7 49.1 46.0 40.2 28.7 37.5 Official creditors .. 23.4 47.7 45.0 50.0 48.5 45.7 40.0 27.4 36.8 Private creditors .. 0.6 8.9 1.6 0.6 0.7 0.2 0.2 1.2 0.7 Memorandum items Concessional LDOD .. 18.8 70.5 68.6 68.8 72.3 71.7 83.5 82.3 97.9 Variable rate LDOD .. 0.0 5.8 5.9 5.1 14.4 13.2 11.4 9.5 14.8 Public sector LDOD .. 25.1 117.2 138.1 131.3 145.4 134.8 131.3 132.2 149.3 Private sector LDOD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 15.9 16.4 Deutsche mark .. 8.1 3.5 3.5 3.1 3.4 3.0 2.7 .. .. French franc .. 2.6 15.3 7.0 5.9 3.9 3.4 3.3 .. .. Japanese yen .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 68.1 15.9 8.6 8.8 8.0 8.4 8.9 8.6 8.5 Swiss franc .. 0.0 8.4 6.8 6.7 6.4 5.9 0.0 0.0 0.0 U.S.dollars .. 8.4 9.9 17.1 15.1 19.0 17.9 21.0 19.9 21.1 Multiple currency .. 12.8 29.3 33.6 34.0 32.8 31.8 29.5 27.5 26.7 Special drawing rights .. 0.0 0.0 0.6 0.5 0.4 0.3 0.2 0.1 0.1 All other currencies .. 0.0 17.5 22.8 25.9 26.0 29.1 34.4 28.0 27.2 455 SEYCHELLES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 35.4 Official 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 45.9 Private 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 17.7 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 11.8 10.7 10.0 6.7 4.6 3.0 1.3 0.7 0.3 0.3 Principal 10.9 26.4 18.6 16.6 15.4 13.2 11.7 9.3 7.3 5.8 Interest 2.1 4.8 3.9 3.4 2.9 2.5 2.0 1.7 1.3 1.0 Official creditors Disbursements 3.8 10.1 9.8 6.7 4.6 3.0 1.3 0.7 0.3 0.3 Principal 1.1 21.3 15.3 14.1 13.1 11.8 11.5 9.3 7.3 5.8 Interest 0.6 4.5 3.7 3.3 2.9 2.5 2.0 1.7 1.3 1.0 Bilateral creditors Disbursements 3.6 1.6 1.6 0.8 0.3 0.1 0.1 0.0 0.0 0.0 Principal 1.0 7.9 7.0 6.6 6.4 5.1 5.2 4.5 3.6 2.1 Interest 0.2 1.6 1.4 1.2 1.1 0.9 0.7 0.6 0.4 0.3 Multilateral creditors Disbursements 0.2 8.5 8.2 5.9 4.3 2.8 1.2 0.6 0.3 0.3 Principal 0.1 13.4 8.3 7.5 6.7 6.6 6.3 4.8 3.7 3.7 Interest 0.4 2.9 2.4 2.1 1.8 1.6 1.3 1.1 0.9 0.7 Private creditors Disbursements 8.0 0.6 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 9.8 5.1 3.4 2.4 2.3 1.4 0.2 0.0 0.0 0.0 Interest 1.5 0.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 8.0 0.4 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 9.0 2.5 1.8 1.8 1.6 0.7 0.0 0.0 0.0 0.0 Interest 1.1 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.8 2.6 1.6 0.7 0.7 0.7 0.2 0.0 0.0 0.0 Interest 0.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 456 SIERRA LEONE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 61 470 1,197 1,242 1,200 1,314 1,298 1,229 1,295 1,448 Long-term debt (LDOD) 61 404 940 1,047 1,023 1,093 1,066 1,006 1,121 1,262 Public and publicly guaranteed 61 404 940 1,047 1,023 1,093 1,066 1,006 1,121 1,262 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 59 108 171 167 191 195 174 152 169 Short-term debt 0 7 148 24 9 30 37 49 22 16 of 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 0 Memo: 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 0 Memo: export credits 0 0 166 110 135 98 88 85 84 124 TOTAL DEBT FLOWS Disbursements 8 104 24 90 47 62 36 91 143 102 Long-term debt 8 84 24 75 40 46 15 77 83 66 IMF purchases 0 21 0 15 7 16 21 14 60 36 Principal repayments 16 50 12 50 7 14 19 35 85 14 Long-term debt 11 34 7 47 7 14 7 10 9 13 IMF repurchases 5 17 5 3 0 0 12 25 75 1 Net flows on debt -8 54 12 38 24 56 13 57 65 84 of which short-term debt 0 0 0 -2 -16 8 -4 1 7 -5 Interest payments (INT) 2 16 9 15 8 12 8 12 11 9 Long-term debt 2 13 9 13 7 11 6 9 8 8 IMF charges 0 2 0 1 1 1 1 3 3 1 Short-term debt 0 0 0 1 1 0 1 0 0 1 Net transfers on debt -11 39 3 22 16 44 6 45 54 74 Total debt service paid (TDS) 18 66 21 66 16 26 27 47 96 23 Long-term debt 13 47 16 60 14 24 12 19 17 21 IMF repurchases and charges 5 19 5 4 1 1 14 28 78 2 Short-term debt (interest only) 0 0 0 1 1 0 1 0 0 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7 56 79 112 104 93 80 188 269 255 Net flow of long-term debt (ex. IMF) -3 50 17 28 33 33 9 67 74 53 Foreign direct investment (net) 8 -19 32 19 10 -10 6 5 3 5 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 1 24 30 65 61 70 65 116 192 197 Memo: 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 71 175 256 243 Interest on long-term debt 2 13 9 13 7 11 6 9 8 8 Profit remittances on FDI 0 5 51 4 3 3 3 4 5 4 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 426 1,071 580 920 832 655 650 617 728 758 Exports of goods, serv. & inc. (XGS) .. 276 210 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 494 287 .. .. .. .. .. .. .. International reserves (RES) 39 31 5 27 38 44 39 49 51 85 Current account balance .. -165 -69 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 170.4 568.8 .. .. .. .. .. .. .. EDT / GNI (%) 14.4 43.9 206.4 134.9 144.3 200.7 199.8 199.3 177.9 190.9 TDS / XGS (%) .. 23.8 10.1 .. .. .. .. .. .. .. INT / XGS (%) .. 5.6 4.4 .. .. .. .. .. .. .. INT / GNI (%) 0.6 1.5 1.6 1.7 1.0 1.8 1.2 1.9 1.5 1.2 RES / EDT (%) 64.1 6.5 0.5 2.1 3.2 3.3 3.0 4.0 4.0 5.8 RES / MGS (months) .. 0.7 0.2 .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 1.5 12.4 2.0 0.8 2.3 2.9 4.0 1.7 1.1 Concessional / EDT (%) 32.5 37.5 26.2 59.3 61.0 59.6 59.9 66.3 72.6 73.6 Multilateral / EDT (%) 10.3 13.2 15.2 38.6 40.7 40.8 40.9 46.9 47.7 49.9 457 SIERRA LEONE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 61 404 940 1,047 1,023 1,093 1,066 1,006 1,121 1,262 Public and publicly guaranteed 61 404 940 1,047 1,023 1,093 1,066 1,006 1,121 1,262 Official 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 20 138 143 279 262 278 277 267 339 365 Private 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 2 Private 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 0 Memo: IBRD 6 13 11 2 2 1 0 0 0 0 IDA 0 29 81 258 270 298 299 354 407 479 DISBURSEMENTS 8 84 24 75 40 46 15 77 83 66 Public and publicly guaranteed 8 84 24 75 40 46 15 77 83 66 Official creditors 4 42 20 75 40 46 15 77 83 66 Multilateral 3 9 1 73 40 41 15 74 83 63 Concessional 0 5 1 71 40 28 13 74 83 63 Bilateral 1 33 19 2 0 6 0 3 0 3 Concessional 1 28 19 2 0 6 0 3 0 3 Private creditors 4 42 4 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 4 42 4 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 3 2 0 0 0 0 0 0 0 0 IDA 0 2 0 35 27 21 9 70 69 44 PRINCIPAL REPAYMENTS 11 34 7 47 7 14 7 10 9 13 Public and publicly guaranteed 11 34 7 47 7 14 7 10 9 13 Official creditors 1 4 7 47 7 14 7 10 9 13 Multilateral 0 1 2 4 3 9 4 7 5 6 Concessional 0 0 0 4 3 8 3 6 5 5 Bilateral 1 3 5 43 4 4 2 2 4 7 Concessional 1 2 2 2 3 1 0 0 0 1 Private creditors 10 29 0 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 4 27 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 1 0 1 1 0 0 0 IDA 0 0 0 2 1 3 2 2 2 1 NET FLOWS ON DEBT -3 50 17 28 33 33 9 67 74 53 Public and publicly guaranteed -3 50 17 28 33 33 9 67 74 53 Official 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 2 Private 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 0 Private 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 0 Memo: IBRD 3 2 0 -1 0 -1 -1 0 0 0 IDA 0 2 0 34 26 19 7 68 67 43 458 SIERRA LEONE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 2 13 9 13 7 11 6 9 8 8 Public and publicly guaranteed 2 13 9 13 7 11 6 9 8 8 Official creditors 1 2 4 13 7 11 6 9 8 8 Multilateral 0 1 2 3 2 5 3 4 3 3 Concessional 0 0 1 3 2 5 3 3 3 3 Bilateral 1 1 2 10 5 6 3 5 5 5 Concessional 1 0 1 1 3 0 0 0 0 1 Private creditors 1 11 5 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 0 0 0 0 0 0 0 Other private 1 10 5 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 1 0 0 0 0 0 0 0 0 IDA 0 0 0 2 1 3 2 2 3 1 NET TRANSFERS ON DEBT -5 37 7 15 26 22 3 59 66 45 Public and publicly guaranteed -5 37 7 15 26 22 3 59 66 45 Official 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 2 Private 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 0 Private 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 0 Memo: IBRD 2 1 0 -1 0 -1 -1 0 0 0 IDA 0 2 0 32 25 16 5 66 65 42 DEBT SERVICE (LTDS) 13 47 16 60 14 24 12 19 17 21 Public and publicly guaranteed 13 47 16 60 14 24 12 19 17 21 Official creditors 2 6 11 60 14 24 12 19 17 21 Multilateral 0 2 4 7 5 14 7 11 8 9 Concessional 0 0 1 6 5 13 6 10 8 8 Bilateral 2 4 7 53 9 10 5 8 9 12 Concessional 2 2 4 4 5 1 0 1 0 1 Private creditors 11 41 5 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 5 37 5 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 1 0 1 0 1 1 0 0 0 IDA 0 0 0 4 2 6 4 4 5 2 UNDISBURSED DEBT 24 116 164 219 163 156 131 121 109 96 Official creditors 22 95 164 219 163 156 131 121 109 96 Private creditors 2 21 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 15.1 15.4 Deutsche mark 11.0 13.9 3.1 1.4 1.3 1.3 1.2 1.1 .. .. French franc 19.1 2.4 3.9 2.4 2.3 2.2 2.0 1.9 .. .. Japanese yen 0.0 4.2 4.8 6.5 5.9 6.2 7.2 6.8 8.8 8.6 Pound sterling 39.0 8.8 1.4 0.6 0.6 0.6 0.6 0.6 0.4 0.3 Swiss franc 0.8 9.4 5.3 2.4 2.4 2.4 2.1 2.2 1.7 1.7 U.S.dollars 16.9 32.4 54.9 42.2 45.1 45.1 46.3 46.3 50.0 49.6 Multiple currency 10.3 3.5 3.5 10.8 11.2 11.3 11.4 11.8 10.3 9.9 Special drawing rights 0.0 0.0 7.2 9.4 9.3 9.3 9.5 9.5 8.0 7.5 All other currencies 2.9 25.4 15.9 24.3 21.9 21.7 19.7 19.8 5.7 7.0 459 SIERRA LEONE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 24 55 1 0 0 168 15 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 14 47 1 0 0 34 7 Official .. .. 0 13 46 1 0 0 34 7 Private .. .. 0 1 1 0 0 0 0 0 Interest rescheduled .. .. 0 9 11 0 0 0 23 5 Official .. .. 0 9 11 0 0 0 23 5 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 0 5 0 0 0 0 26 11 Memo: interest forgiven .. .. 0 0 3 0 0 0 19 6 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.9 5.3 2.3 0.6 0.0 2.6 0.0 0.8 0.7 1.5 Maturity (years) 26.7 25.5 26.6 34.5 0.0 30.6 1.3 39.8 39.5 36.3 Grace period (years) 5.6 5.9 8.9 8.5 0.0 5.7 0.3 10.3 11.5 7.6 Grant element (%) 49.9 32.8 60.9 73.0 0.0 54.8 8.3 80.6 81.3 69.6 Official creditors Interest (%) 2.1 4.7 1.1 0.6 0.0 2.6 0.0 0.8 0.7 1.5 Maturity (years) 33.0 30.3 30.6 34.5 0.0 30.6 1.3 39.8 39.5 36.3 Grace period (years) 6.8 7.7 10.2 8.5 0.0 5.7 0.3 10.3 11.5 7.6 Grant element (%) 61.6 40.4 71.2 73.0 0.0 54.8 8.3 80.6 81.3 69.6 Private creditors Interest (%) 5.4 7.0 9.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 6.7 12.8 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.7 1.3 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 12.7 12.5 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 25 68 27 69 0 34 2 65 79 47 Official creditors 19 49 23 69 0 34 2 65 79 47 Private creditors 6 19 4 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 31 21 14 9 8 5 4 2 1 1 Principal 42 58 51 46 42 43 44 44 45 47 Interest 24 24 23 22 21 20 19 17 16 15 Official creditors Disbursements 31 21 14 9 8 5 4 2 1 1 Principal 41 58 51 46 42 43 43 44 45 46 Interest 24 23 23 22 21 20 19 17 16 15 Bilateral creditors Disbursements 4 3 2 1 0 0 0 0 0 0 Principal 28 34 34 29 24 25 25 25 24 25 Interest 18 18 18 17 16 15 13 12 11 10 Multilateral creditors Disbursements 27 18 12 9 7 5 4 2 1 1 Principal 13 25 17 17 17 18 18 20 20 21 Interest 5 6 6 5 5 5 5 5 5 5 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 460 SLOVAK REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 7,674 9,803 13,369 12,575 12,140 11,154 13,013 Long-term debt (LDOD) .. .. .. 4,409 5,450 8,575 9,737 9,725 8,081 8,776 Public and publicly guaranteed .. .. .. 3,963 4,450 5,417 5,958 6,304 5,531 4,295 Private nonguaranteed .. .. .. 446 1,000 3,157 3,779 3,421 2,550 4,481 Use of IMF credit .. .. .. 319 249 190 132 0 0 0 Short-term debt .. .. .. 2,946 4,104 4,605 2,706 2,415 3,073 4,237 of 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 0 Memo: 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 42 Memo: export credits .. .. .. 540 595 611 637 294 307 284 TOTAL DEBT FLOWS Disbursements .. .. .. 1,666 2,245 3,430 2,684 2,004 726 3,770 Long-term debt .. .. .. 1,666 2,245 3,430 2,684 2,004 726 3,770 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 821 1,191 1,441 1,185 2,022 1,833 2,400 Long-term debt .. .. .. 697 1,140 1,374 1,133 1,895 1,833 2,400 IMF repurchases .. .. .. 124 52 68 52 127 0 0 Net flows on debt .. .. .. 2,077 2,212 2,490 -399 -309 -449 1,541 of which short-term debt .. .. .. 1,233 1,158 500 -1,899 -291 658 171 Interest payments (INT) .. .. .. 439 473 693 715 746 786 977 Long-term debt .. .. .. 291 254 441 506 569 687 909 IMF charges .. .. .. 17 13 10 6 6 0 0 Short-term debt .. .. .. 130 206 242 202 172 99 68 Net transfers on debt .. .. .. 1,639 1,739 1,797 -1,114 -1,055 -1,235 564 Total debt service paid (TDS) .. .. .. 1,259 1,664 2,134 1,899 2,768 2,618 3,377 Long-term debt .. .. .. 988 1,393 1,814 1,639 2,464 2,519 3,309 IMF repurchases and charges .. .. .. 141 65 78 58 133 0 0 Short-term debt (interest only) .. .. .. 130 206 242 202 172 99 68 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 1,404 1,415 2,637 2,010 2,172 550 5,504 Net flow of long-term debt (ex. IMF) .. .. .. 969 1,105 2,057 1,552 109 -1,107 1,370 Foreign direct investment (net) .. .. .. 351 174 562 354 2,053 1,579 4,012 Portfolio equity flows .. .. .. 28 102 -35 47 -53 0 0 Grants (excluding technical coop.) .. .. .. 57 33 53 57 63 78 122 Memo: 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 4,514 Interest on long-term debt .. .. .. 291 254 441 506 569 687 909 Profit remittances on FDI .. .. .. 4 3 60 51 43 46 81 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 20,461 20,957 21,839 19,903 19,389 20,146 23,243 Exports of goods, serv. & inc. (XGS) .. .. .. 11,117 12,131 13,450 12,369 14,405 15,417 16,794 Worker remit. & comp. of employees .. .. .. 21 29 31 27 25 25 25 Imports of goods & services (MGS) .. .. .. 13,404 14,258 15,942 13,722 15,219 17,386 18,941 International reserves (RES) .. .. .. 3,895 3,605 3,240 3,745 4,376 4,453 9,196 Current 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 77.5 EDT / GNI (%) .. .. .. 37.5 46.8 61.2 63.2 62.6 55.4 56.0 TDS / XGS (%) .. .. .. 11.3 13.7 15.9 15.4 19.2 17.0 20.1 INT / XGS (%) .. .. .. 3.9 3.9 5.2 5.8 5.2 5.1 5.8 INT / GNI (%) 2.1 2.3 3.2 3.6 3.8 3.9 4.2 RES / EDT (%) 50.8 36.8 24.2 29.8 36.0 39.9 70.7 RES / MGS (months) 3.5 3.0 2.4 3.3 3.5 3.1 5.8 Short-term / EDT (%) .. .. .. 38.4 41.9 34.4 21.5 19.9 27.6 32.6 Concessional / EDT (%) .. .. .. 1.6 2.7 2.4 3.0 2.7 2.4 2.0 Multilateral / EDT (%) .. .. .. 6.0 5.3 5.0 6.2 5.3 6.4 6.2 461 SLOVAK REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 4,409 5,450 8,575 9,737 9,725 8,081 8,776 Public and publicly guaranteed .. .. .. 3,963 4,450 5,417 5,958 6,304 5,531 4,295 Official 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 .. .. .. 124 264 318 376 323 268 262 Private 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 93 Private 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 4,481 Memo: 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 3,770 Public and publicly guaranteed .. .. .. 1,273 887 1,721 1,194 1,013 244 36 Official 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 1 Private 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 0 Private 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 3,733 Memo: 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 2,400 Public and publicly guaranteed .. .. .. 664 275 900 416 567 624 597 Official 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 32 Private 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 28 Private 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 1,803 Memo: 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 1,370 Public and publicly guaranteed .. .. .. 609 612 821 778 446 -380 -561 Official 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 -31 Private 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 -28 Private 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 1,931 Memo: IBRD .. .. .. 6 -2 -2 -18 -22 32 -22 IDA .. .. .. 0 0 0 0 0 0 0 462 SLOVAK REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 291 254 441 506 569 687 909 Public and publicly guaranteed .. .. .. 269 191 251 285 317 337 281 Official creditors .. .. .. 39 40 68 55 58 81 56 Multilateral .. .. .. 30 30 52 36 38 38 37 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 9 10 17 19 20 44 19 Concessional .. .. .. 4 5 5 10 11 9 10 Private creditors .. .. .. 230 151 183 230 259 256 224 Bonds .. .. .. 61 72 75 124 160 168 187 Commercial banks .. .. .. 19 17 50 45 48 43 28 Other private .. .. .. 150 61 58 61 51 45 10 Private nonguaranteed .. .. .. 23 63 189 221 252 349 628 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 23 63 189 221 252 349 628 Memo: IBRD .. .. .. 17 16 14 14 11 10 9 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 678 852 1,616 1,046 -460 -1,794 461 Public and publicly guaranteed .. .. .. 340 421 570 493 129 -717 -842 Official 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 -42 Private 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 -38 Private 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 1,302 Memo: 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 3,309 Public and publicly guaranteed .. .. .. 933 466 1,152 701 884 962 878 Official 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 43 Private 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 38 Private 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 2,431 Memo: IBRD .. .. .. 17 30 31 34 34 32 31 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 948 764 412 343 292 363 394 Official creditors .. .. .. 434 372 290 296 263 338 384 Private creditors .. .. .. 513 392 122 48 29 25 10 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 47.5 66.3 Deutsche mark .. .. .. 5.3 7.1 9.1 6.2 4.7 .. .. French franc .. .. .. 2.3 1.4 1.0 0.7 3.9 .. .. Japanese yen .. .. .. 3.1 5.9 8.3 8.8 8.7 6.3 8.2 Pound sterling .. .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.4 0.5 0.5 0.2 0.0 0.0 0.0 U.S.dollars .. .. .. 12.3 17.4 25.8 22.3 17.2 17.1 17.1 Multiple currency .. .. .. 72.1 62.1 38.7 32.2 27.5 28.0 6.9 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 4.4 5.5 16.7 29.6 38.1 1.0 1.4 463 SLOVAK REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 0 0 0 0 Debt stock rescheduled .. .. .. 0 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 .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 37.2 Official 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 37.2 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 68 76 49 30 17 6 3 1 0 0 Principal 1,993 1,797 678 1,259 776 380 239 770 836 58 Interest 505 394 269 197 174 102 83 75 56 9 Official creditors Disbursements 61 73 49 30 17 6 3 1 0 0 Principal 134 151 152 163 170 155 127 104 59 47 Interest 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 6 Private creditors Disbursements 7 3 0 0 0 0 0 0 0 0 Principal 1,859 1,646 525 1,096 606 226 112 666 777 11 Interest 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 1 464 SOLOMON ISLANDS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 19.4 120.5 147.5 139.9 154.6 165.0 155.4 162.7 180.4 Long-term debt (LDOD) .. 17.4 103.2 146.0 137.7 151.7 160.3 152.1 158.8 175.5 Public and publicly guaranteed .. 17.4 103.2 100.5 96.5 113.7 125.3 120.7 130.9 150.2 Private nonguaranteed .. 0.0 0.0 45.6 41.2 38.1 35.0 31.5 28.0 25.3 Use of IMF credit .. 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. 2.0 16.6 1.4 2.2 2.9 4.7 3.2 3.8 4.9 of which interest arrears on LDOD .. 0.0 0.1 0.6 2.1 1.7 1.8 1.8 2.4 3.9 Official creditors .. 0.0 0.1 0.4 1.6 1.0 1.1 0.4 0.9 2.3 Private creditors .. 0.0 0.0 0.2 0.5 0.7 0.7 1.4 1.5 1.6 Memo: principal arrears on LDOD .. 0.0 0.2 2.4 5.0 4.1 4.3 3.3 4.8 6.0 Official creditors .. 0.0 0.2 2.2 4.0 3.1 3.2 1.0 2.1 2.8 Private creditors .. 0.0 0.0 0.2 1.0 1.1 1.1 2.3 2.8 3.2 Memo: export credits .. 0.0 29.0 54.5 54.6 44.2 50.3 44.7 39.5 2.8 TOTAL DEBT FLOWS Disbursements .. 4.0 5.2 5.5 5.0 18.6 9.0 3.4 17.6 10.3 Long-term debt .. 4.0 5.2 5.5 5.0 18.6 9.0 3.4 17.6 10.3 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. 0.0 7.9 6.3 4.4 7.8 7.3 6.2 4.5 3.3 Long-term debt .. 0.0 7.0 6.3 4.4 7.8 7.3 6.2 4.5 3.3 IMF repurchases .. 0.0 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. 4.9 13.8 -1.2 -0.1 11.8 3.5 -4.4 13.1 6.5 of which short-term debt .. 1.0 16.5 -0.4 -0.7 1.0 1.8 -1.5 0.0 -0.4 Interest payments (INT) .. 0.3 3.7 2.1 1.3 4.1 3.6 2.9 2.6 2.4 Long-term debt .. 0.0 3.1 2.0 1.3 4.0 3.5 2.7 2.5 2.3 IMF charges .. 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. 0.3 0.5 0.0 0.0 0.1 0.1 0.1 0.1 0.0 Net transfers on debt .. 4.7 10.1 -3.3 -1.4 7.7 -0.1 -7.3 10.5 4.1 Total debt service paid (TDS) .. 0.3 11.6 8.4 5.7 11.9 10.9 9.1 7.1 5.7 Long-term debt .. 0.0 10.1 8.3 5.7 11.9 10.9 9.0 7.0 5.7 IMF repurchases and charges .. 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. 0.3 0.5 0.0 0.0 0.1 0.1 0.1 0.1 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 27.3 28.7 23.7 50.4 30.1 24.3 47.2 44.0 12.7 Net flow of long-term debt (ex. IMF) .. 3.9 -1.8 -0.8 0.6 10.8 1.7 -2.9 13.1 6.9 Foreign direct investment (net) .. 2.4 10.4 5.9 33.8 8.8 9.9 1.4 -12.1 -6.6 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. 21.0 20.2 18.6 15.9 10.5 12.7 48.7 43.0 12.4 Memo: 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 2.9 Interest on long-term debt .. 0.0 3.1 2.0 1.3 4.0 3.5 2.7 2.5 2.3 Profit remittances on FDI .. 14.9 2.0 7.5 8.6 7.8 10.6 9.0 8.0 7.4 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 107.9 207.3 338.6 408.3 322.9 297.9 286.6 294.5 239.7 Exports 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 0.0 Imports 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 18.2 Current 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 75.3 TDS / 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 1.0 RES / EDT (%) .. 152.6 14.6 22.1 26.0 31.7 31.0 20.6 11.9 10.1 RES / 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 2.7 Concessional / EDT (%) .. 89.7 64.1 60.1 60.9 66.2 69.9 74.3 77.3 80.3 Multilateral / EDT (%) .. 36.7 51.0 54.8 54.4 60.7 65.4 64.6 58.8 58.1 465 SOLOMON ISLANDS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 17.4 103.2 146.0 137.7 151.7 160.3 152.1 158.8 175.5 Public and publicly guaranteed .. 17.4 103.2 100.5 96.5 113.7 125.3 120.7 130.9 150.2 Official creditors .. 17.4 89.1 96.2 92.4 109.9 121.9 117.3 127.5 145.9 Multilateral .. 7.1 61.5 80.8 76.2 93.9 107.9 100.4 95.6 104.8 Concessional .. 7.1 61.5 79.6 75.1 92.8 106.9 99.5 94.8 103.8 Bilateral .. 10.3 27.7 15.4 16.2 16.0 14.0 16.9 31.8 41.1 Concessional .. 10.3 15.8 9.1 10.2 9.6 8.4 16.0 31.0 41.1 Private creditors .. 0.0 14.1 4.2 4.2 3.8 3.4 3.4 3.4 4.2 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 10.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 0.0 3.2 4.2 4.2 3.8 3.4 3.4 3.4 4.2 Private nonguaranteed .. 0.0 0.0 45.6 41.2 38.1 35.0 31.5 28.0 25.3 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 45.6 41.2 38.1 35.0 31.5 28.0 25.3 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 16.6 29.2 29.9 32.7 39.9 38.4 37.9 40.8 DISBURSEMENTS .. 4.0 5.2 5.5 5.0 18.6 9.0 3.4 17.6 10.3 Public and publicly guaranteed .. 4.0 5.2 5.5 5.0 18.6 9.0 3.4 17.6 10.3 Official creditors .. 4.0 5.2 5.5 5.0 18.6 9.0 3.4 17.6 10.3 Multilateral .. 4.0 5.2 4.5 3.3 18.2 8.6 1.4 1.6 0.3 Concessional .. 4.0 5.2 4.5 3.3 18.2 8.6 1.4 1.6 0.3 Bilateral .. 0.0 0.0 1.0 1.7 0.4 0.4 2.0 16.1 10.0 Concessional .. 0.0 0.0 1.0 1.7 0.4 0.4 2.0 16.1 10.0 Private creditors .. 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 .. 0.0 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 0.0 0.0 Private 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 0.0 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 2.5 4.3 2.6 1.9 8.0 0.6 1.1 0.3 PRINCIPAL REPAYMENTS .. 0.0 7.0 6.3 4.4 7.8 7.3 6.2 4.5 3.3 Public and publicly guaranteed .. 0.0 7.0 3.1 0.7 4.7 4.3 2.7 1.0 0.7 Official creditors .. 0.0 3.9 2.2 0.7 4.3 3.8 2.7 1.0 0.7 Multilateral .. 0.0 0.5 0.9 0.3 3.3 1.4 1.1 0.6 0.3 Concessional .. 0.0 0.5 0.9 0.3 3.3 1.4 1.1 0.6 0.3 Bilateral .. 0.0 3.4 1.3 0.4 1.0 2.4 1.6 0.4 0.4 Concessional .. 0.0 1.4 0.4 0.4 1.0 1.4 1.6 0.4 0.4 Private 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 0.0 Private 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 2.6 Memo: IBRD .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 0.0 0.2 0.2 0.2 0.2 0.2 0.1 0.3 NET FLOWS ON DEBT .. 3.9 -1.8 -0.8 0.6 10.8 1.7 -2.9 13.1 6.9 Public and publicly guaranteed .. 3.9 -1.8 2.4 4.3 13.9 4.8 0.6 16.6 9.5 Official 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 9.6 Private 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 0.0 Private 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 -2.6 Memo: 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 -0.1 466 SOLOMON ISLANDS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 0.0 3.1 2.0 1.3 4.0 3.5 2.7 2.5 2.3 Public and publicly guaranteed .. 0.0 3.1 1.5 0.3 1.8 1.5 0.8 0.8 0.7 Official creditors .. 0.0 1.6 1.2 0.3 1.5 1.3 0.8 0.8 0.7 Multilateral .. 0.0 0.6 0.6 0.2 1.5 1.0 0.7 0.6 0.4 Concessional .. 0.0 0.6 0.6 0.2 1.5 1.0 0.7 0.6 0.4 Bilateral .. 0.0 1.0 0.6 0.1 0.0 0.2 0.1 0.2 0.3 Concessional .. 0.0 0.0 0.1 0.1 0.0 0.0 0.1 0.2 0.3 Private creditors .. 0.0 1.5 0.4 0.0 0.3 0.2 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 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 0.0 0.3 0.4 0.0 0.3 0.2 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 0.5 1.0 2.2 2.1 1.9 1.7 1.6 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 0.5 1.0 2.2 2.1 1.9 1.7 1.6 Memo: 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 0.2 0.2 0.3 0.3 0.2 0.4 NET TRANSFERS ON DEBT .. 3.9 -4.9 -2.8 -0.7 6.7 -1.9 -5.6 10.6 4.6 Public and publicly guaranteed .. 3.9 -4.9 0.9 4.0 12.1 3.3 -0.2 15.9 8.8 Official 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 9.3 Private 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 0.0 Private 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 -4.2 Memo: 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 DEBT SERVICE (LTDS) .. 0.0 10.1 8.3 5.7 11.9 10.9 9.0 7.0 5.7 Public and publicly guaranteed .. 0.0 10.1 4.6 1.1 6.5 5.7 3.6 1.8 1.5 Official creditors .. 0.0 5.5 3.4 1.1 5.8 5.1 3.6 1.8 1.5 Multilateral .. 0.0 1.1 1.5 0.6 4.8 2.4 1.8 1.2 0.7 Concessional .. 0.0 1.1 1.5 0.6 4.8 2.4 1.8 1.2 0.7 Bilateral .. 0.0 4.4 1.9 0.5 1.1 2.7 1.7 0.6 0.7 Concessional .. 0.0 1.4 0.5 0.5 1.1 1.4 1.7 0.6 0.7 Private 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 0.0 Private 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 4.2 Memo: 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 0.4 0.5 0.4 0.3 0.7 UNDISBURSED DEBT .. 12.9 25.4 19.0 13.0 22.0 26.2 15.8 27.8 18.9 Official creditors .. 12.9 10.4 19.0 13.0 22.0 26.2 15.8 27.8 18.9 Private creditors .. 0.0 15.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. 17.4 77.2 88.6 85.3 102.4 115.3 115.5 125.8 144.9 Variable rate LDOD .. 0.0 10.9 45.6 41.2 38.1 35.0 31.5 28.0 25.3 Public sector LDOD .. 17.4 103.2 100.5 96.5 113.7 125.3 120.7 130.9 150.2 Private sector LDOD .. 0.0 0.0 45.6 41.2 38.1 35.0 31.5 28.0 25.3 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.9 5.1 Deutsche mark .. 0.0 3.1 0.4 0.4 0.0 0.0 0.0 .. .. French franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. 0.0 4.8 2.9 2.7 2.5 2.2 3.4 2.7 2.6 Pound sterling .. 59.1 13.1 7.0 7.0 5.6 4.4 2.9 2.3 1.2 Swiss franc .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 40.9 52.0 55.7 57.0 63.9 66.4 67.1 71.5 72.9 Multiple currency .. 0.0 7.3 12.6 11.5 10.0 10.8 9.9 8.7 8.7 Special drawing rights .. 0.0 6.3 7.7 7.2 6.3 7.5 6.7 5.3 5.5 All other currencies .. 0.0 13.4 13.8 14.3 11.6 8.8 10.0 4.6 4.1 467 SOLOMON ISLANDS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0.0 0.0 0.0 0.0 0.0 7.8 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 6.4 0.0 0.0 Official .. .. 0.0 0.0 0.0 0.0 0.0 6.4 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 1.4 0.0 0.0 Official .. .. 0.0 0.0 0.0 0.0 0.0 1.4 0.0 0.0 Private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 1.0 2.2 0.0 0.0 3.3 1.1 0.8 2.9 0.0 Maturity (years) .. 39.8 17.7 0.0 0.0 39.7 36.1 40.0 26.6 0.0 Grace period (years) .. 10.3 11.5 0.0 0.0 10.2 9.2 10.5 4.9 0.0 Grant element (%) .. 78.4 56.9 0.0 0.0 57.7 74.0 80.9 51.5 0.0 Official creditors Interest (%) .. 1.0 2.2 0.0 0.0 3.3 1.1 0.8 2.9 0.0 Maturity (years) .. 39.8 17.7 0.0 0.0 39.7 36.1 40.0 26.6 0.0 Grace period (years) .. 10.3 11.5 0.0 0.0 10.2 9.2 10.5 4.9 0.0 Grant element (%) .. 78.4 56.9 0.0 0.0 57.7 74.0 80.9 51.5 0.0 Private creditors Interest (%) .. 0.0 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 0.0 Grace period (years) .. 0.0 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 0.0 0.0 Memorandum items Commitments .. 8 3 0 0 27 14 4 35 0 Official creditors .. 8 3 0 0 27 14 4 35 0 Private creditors .. 0 0 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 10.3 3.3 4.8 3.7 2.7 1.9 1.2 0.7 0.4 0.3 Principal 3.3 6.4 7.3 8.3 8.0 7.7 9.9 8.9 9.3 8.4 Interest 2.3 3.4 3.3 3.3 3.1 2.8 2.7 2.6 2.4 2.1 Official creditors Disbursements 10.3 3.3 4.8 3.7 2.7 1.9 1.2 0.7 0.4 0.3 Principal 0.7 3.3 4.3 5.4 5.4 5.1 7.3 6.3 6.7 6.8 Interest 0.7 1.9 1.9 2.1 2.1 2.0 2.1 2.1 2.0 1.9 Bilateral creditors Disbursements 10.0 0.5 0.4 0.2 0.1 0.1 0.1 0.1 0.0 0.0 Principal 0.4 1.1 1.6 2.7 2.7 2.3 2.3 2.3 2.3 2.3 Interest 0.3 1.1 1.1 1.3 1.2 1.1 1.1 1.0 0.9 0.8 Multilateral creditors Disbursements 0.3 2.8 4.4 3.5 2.6 1.7 1.1 0.6 0.4 0.3 Principal 0.3 2.3 2.6 2.7 2.7 2.8 5.1 4.0 4.4 4.5 Interest 0.4 0.8 0.8 0.9 0.9 0.8 1.0 1.1 1.1 1.0 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 2.6 3.0 3.0 2.8 2.6 2.6 2.6 2.6 2.6 1.6 Interest 1.6 1.5 1.3 1.2 1.0 0.8 0.7 0.5 0.4 0.2 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 2.6 3.0 3.0 2.8 2.6 2.6 2.6 2.6 2.6 1.6 Interest 1.6 1.5 1.3 1.2 1.0 0.8 0.7 0.5 0.4 0.2 468 SOMALIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 77 660 2,370 2,643 2,561 2,635 2,606 2,562 2,563 2,688 Long-term debt (LDOD) 77 595 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860 Public and publicly guaranteed 77 595 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 18 159 161 151 158 154 146 141 152 Short-term debt 0 47 285 564 558 591 593 591 627 676 of 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 15 Memo: 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 34 Memo: 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 0 Long-term debt 4 113 46 0 0 0 0 0 0 0 IMF purchases 0 22 0 0 0 0 0 0 0 0 Principal repayments 2 11 5 0 0 0 0 0 0 0 Long-term debt 0 7 3 0 0 0 0 0 0 0 IMF repurchases 2 4 3 0 0 0 0 0 0 0 Net flows on debt 2 137 58 0 -7 5 0 -7 2 9 of which short-term debt 0 13 18 0 -7 5 0 -7 2 9 Interest payments (INT) 0 2 5 3 0 0 1 0 0 0 Long-term debt 0 2 4 3 0 0 0 0 0 0 IMF charges 0 0 1 1 0 0 1 0 0 0 Short-term debt 0 0 0 0 0 0 0 0 0 0 Net transfers on debt 1 135 53 -3 -7 5 -1 -7 2 9 Total debt service paid (TDS) 3 13 11 3 0 0 1 0 0 0 Long-term debt 1 9 7 3 0 0 0 0 0 0 IMF repurchases and charges 2 4 4 1 0 0 1 0 0 0 Short-term debt (interest only) 0 0 0 0 0 0 0 0 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 17 380 372 62 68 68 92 87 120 171 Net flow of long-term debt (ex. IMF) 4 106 43 0 0 0 0 0 0 0 Foreign direct investment (net) 5 0 6 1 1 0 -1 0 0 0 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 8 274 323 60 67 68 93 86 120 171 Memo: 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 87 120 171 Interest on long-term debt 0 2 4 3 0 0 0 0 0 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 0 Imports 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 25.1 Concessional / EDT (%) 91.0 82.8 65.7 58.9 58.7 58.1 58.2 58.1 57.0 56.3 Multilateral / EDT (%) 9.2 24.1 31.8 28.9 28.2 28.1 28.0 27.7 27.0 27.1 469 SOMALIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 77 595 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860 Public and publicly guaranteed 77 595 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860 Official 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 63 400 822 812 797 808 804 794 784 803 Private 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 34 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 7 72 419 422 406 416 409 396 386 405 DISBURSEMENTS 4 113 46 0 0 0 0 0 0 0 Public and publicly guaranteed 4 113 46 0 0 0 0 0 0 0 Official creditors 4 87 46 0 0 0 0 0 0 0 Multilateral 0 36 46 0 0 0 0 0 0 0 Concessional 0 25 46 0 0 0 0 0 0 0 Bilateral 4 50 0 0 0 0 0 0 0 0 Concessional 4 49 0 0 0 0 0 0 0 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 35 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 0 7 3 0 0 0 0 0 0 0 Public and publicly guaranteed 0 7 3 0 0 0 0 0 0 0 Official creditors 0 7 3 0 0 0 0 0 0 0 Multilateral 0 5 3 0 0 0 0 0 0 0 Concessional 0 0 2 0 0 0 0 0 0 0 Bilateral 0 2 0 0 0 0 0 0 0 0 Concessional 0 2 0 0 0 0 0 0 0 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 0 0 0 0 0 0 0 NET FLOWS ON DEBT 4 106 43 0 0 0 0 0 0 0 Public and publicly guaranteed 4 106 43 0 0 0 0 0 0 0 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 10 32 0 0 0 0 0 0 0 470 SOMALIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0 2 4 3 0 0 0 0 0 0 Public and publicly guaranteed 0 2 4 3 0 0 0 0 0 0 Official creditors 0 2 4 3 0 0 0 0 0 0 Multilateral 0 1 4 3 0 0 0 0 0 0 Concessional 0 1 4 0 0 0 0 0 0 0 Bilateral 0 1 0 0 0 0 0 0 0 0 Concessional 0 1 0 0 0 0 0 0 0 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 3 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 3 104 39 -3 0 0 0 0 0 0 Public and publicly guaranteed 3 104 39 -3 0 0 0 0 0 0 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 9 29 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 1 9 7 3 0 0 0 0 0 0 Public and publicly guaranteed 1 9 7 3 0 0 0 0 0 0 Official creditors 0 9 7 3 0 0 0 0 0 0 Multilateral 0 6 7 3 0 0 0 0 0 0 Concessional 0 1 6 0 0 0 0 0 0 0 Bilateral 0 3 0 0 0 0 0 0 0 0 Concessional 0 3 0 0 0 0 0 0 0 0 Private creditors 1 0 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 0 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 6 0 0 0 0 0 0 0 UNDISBURSED DEBT 67 565 497 230 219 226 12 12 12 12 Official creditors 67 494 497 230 219 226 12 12 12 12 Private creditors 0 70 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 70 546 1,557 1,557 1,503 1,531 1,516 1,487 1,461 1,513 Variable rate LDOD 0 0 20 20 20 20 20 20 20 20 Public sector LDOD 77 567 1,926 1,918 1,852 1,886 1,859 1,825 1,795 1,860 Private sector LDOD 0 28 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.4 5.0 Deutsche mark 18.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc 0.0 0.0 4.7 4.6 4.2 4.4 3.8 3.6 .. .. Japanese yen 0.0 0.0 2.4 2.8 2.6 2.9 3.3 3.0 2.6 2.8 Pound sterling 0.0 0.4 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 24.6 34.1 50.5 50.8 51.8 51.4 51.7 52.0 52.3 51.5 Multiple currency 47.8 16.7 7.2 7.2 7.2 7.2 7.0 7.1 7.2 7.3 Special drawing rights 0.0 0.0 1.3 1.3 1.3 1.3 1.3 1.3 1.2 1.3 All other currencies 9.0 48.8 33.7 33.1 32.8 32.7 32.7 32.9 32.1 31.9 471 SOMALIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 3.3 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 20.3 24.7 46.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 15.6 5.9 10.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 79.7 44.3 81.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors Interest (%) 0.0 3.0 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 20.3 26.1 46.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 15.6 6.2 10.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 79.7 47.0 81.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 0.0 7.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 0.0 9.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 22 188 72 0 0 0 0 0 0 0 Official creditors 22 174 72 0 0 0 0 0 0 0 Private creditors 0 14 0 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 0 0 0 0 0 0 0 0 0 0 Principal 33 32 32 27 29 29 29 30 29 27 Interest 10 9 8 8 7 7 6 6 5 5 Official creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 33 32 32 27 29 29 29 30 29 27 Interest 10 9 8 8 7 7 6 6 5 5 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 14 14 13 13 13 13 12 12 12 10 Interest 6 5 5 4 4 4 3 3 2 2 Multilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 19 19 19 14 16 17 17 17 17 17 Interest 4 4 4 3 3 3 3 3 3 3 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 472 SOUTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 26,050 25,272 24,753 23,907 24,861 24,050 25,041 Long-term debt (LDOD) .. .. .. 14,334 13,930 13,309 13,092 15,308 15,695 17,641 Public and publicly guaranteed .. .. .. 10,347 11,517 10,668 8,173 9,088 7,941 9,427 Private nonguaranteed .. .. .. 3,987 2,413 2,641 4,919 6,220 7,754 8,213 Use of IMF credit 0 0 0 884 415 0 0 0 0 0 Short-term debt .. .. .. 10,832 10,928 11,444 10,815 9,553 8,355 7,400 of 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 0 Memo: 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 0 Memo: 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 4,033 Long-term debt .. .. .. 2,291 4,630 2,046 2,732 3,611 3,603 4,033 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments .. .. .. 2,769 5,103 2,859 2,844 2,609 3,172 3,596 Long-term debt .. .. .. 2,769 4,680 2,442 2,844 2,609 3,172 3,596 IMF repurchases 0 0 0 0 423 417 0 0 0 0 Net flows on debt .. .. .. 681 -377 -297 -698 1,186 -767 -518 of which short-term debt .. .. .. 1,159 96 516 -550 272 -1,198 -955 Interest payments (INT) .. .. .. 1,467 1,439 1,530 1,446 1,252 1,183 1,096 Long-term debt .. .. .. 923 850 892 814 743 860 859 IMF charges 0 0 0 40 34 15 1 0 0 0 Short-term debt .. .. .. 504 555 622 631 509 322 236 Net transfers on debt .. .. .. -786 -1,816 -1,827 -2,144 -65 -1,950 -1,614 Total debt service paid (TDS) .. .. .. 4,236 6,542 4,388 4,290 3,861 4,355 4,691 Long-term debt .. .. .. 3,692 5,530 3,334 3,658 3,352 4,032 4,455 IMF repurchases and charges 0 0 0 40 456 432 1 0 0 0 Short-term debt (interest only) .. .. .. 504 555 622 631 509 322 236 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 2,800 9,433 9,034 10,639 6,358 6,950 1,069 Net flow of long-term debt (ex. IMF) .. .. .. -478 -51 -396 -111 1,002 431 437 Foreign direct investment (net) .. .. .. 816 3,811 550 1,503 969 7,270 739 Portfolio equity flows .. .. .. 2,319 5,473 8,632 9,001 4,169 -962 -388 Grants (excluding technical coop.) .. .. .. 144 200 248 246 219 211 281 Memo: 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 -2,077 Interest on long-term debt .. .. .. 923 850 892 814 743 860 859 Profit remittances on FDI .. .. .. 682 803 805 1,112 2,329 2,882 2,286 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 140,618 145,603 130,530 127,907 124,834 110,425 101,494 Exports of goods, serv. & inc. (XGS) .. .. .. 36,367 37,803 35,852 35,268 38,792 37,496 37,387 Worker remit. & comp. of employees .. .. .. 25 25 25 25 74 61 53 Imports of goods & services (MGS) .. .. .. 37,494 39,352 37,265 34,982 38,440 37,053 36,541 International reserves (RES) .. .. .. 2,341 5,957 5,508 7,497 7,702 7,627 7,817 Current account balance .. .. .. -1,880 -2,273 -2,157 -640 -575 -296 290 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 71.6 66.9 69.0 67.8 64.1 64.1 67.0 EDT / GNI (%) .. .. .. 18.5 17.4 19.0 18.7 19.9 21.8 24.7 TDS / XGS (%) .. .. .. 11.6 17.3 12.2 12.2 10.0 11.6 12.5 INT / XGS (%) .. .. .. 4.0 3.8 4.3 4.1 3.2 3.2 2.9 INT / GNI (%) .. .. .. 1.0 1.0 1.2 1.1 1.0 1.1 1.1 RES / EDT (%) .. .. .. 9.0 23.6 22.3 31.4 31.0 31.7 31.2 RES / MGS (months) .. .. .. 0.7 1.8 1.8 2.6 2.4 2.5 2.6 Short-term / EDT (%) .. .. .. 41.6 43.2 46.2 45.2 38.4 34.7 29.6 Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. .. .. 0.0 0.0 0.0 0.1 0.6 0.5 0.5 473 SOUTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 14,334 13,930 13,309 13,092 15,308 15,695 17,641 Public and publicly guaranteed .. .. .. 10,347 11,517 10,668 8,173 9,088 7,941 9,427 Official 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 0 Private 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 1,582 Private 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 4,640 Memo: 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 4,033 Public and publicly guaranteed .. .. .. 2,152 3,004 1,290 2,004 1,597 1,603 2,479 Official 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 0 Private 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 0 Private 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 0 Memo: 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 3,596 Public and publicly guaranteed .. .. .. 1,567 1,480 1,896 363 1,627 2,000 1,068 Official 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 0 Private 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 0 393 607 551 Private 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 2,177 Memo: 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 1,002 431 437 Public and publicly guaranteed .. .. .. 585 1,523 -606 1,642 -30 -397 1,411 Official 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 0 Private 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 -551 Private 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 -2,177 Memo: IBRD 0 0 0 0 0 0 1 3 4 5 IDA 0 0 0 0 0 0 0 0 0 0 474 SOUTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 923 850 892 814 743 860 859 Public and publicly guaranteed .. .. .. 667 669 759 681 546 558 513 Official 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 0 Private 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 .. .. .. 254 234 266 255 140 133 120 Private nonguaranteed .. .. .. 256 181 134 133 196 302 347 Bonds .. .. .. 25 25 27 59 27 84 147 Commercial banks and other .. .. .. 231 156 106 74 169 218 200 Memo: 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 -423 Public and publicly guaranteed .. .. .. -83 854 -1,364 961 -576 -955 898 Official 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 0 Private 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 -670 Private 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 -2,377 Memo: 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 4,455 Public and publicly guaranteed .. .. .. 2,235 2,150 2,654 1,044 2,173 2,558 1,581 Official 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 0 Private 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 .. .. .. 721 709 895 255 534 740 670 Private 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 2,377 Memo: 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 47 139 159 Official creditors .. .. .. 0 0 124 63 47 139 159 Private creditors .. .. .. 226 1,750 910 610 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.8 2.8 Deutsche mark .. .. .. 3.1 2.4 2.8 3.1 2.6 .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. .. 2.5 4.7 5.7 8.4 3.8 3.8 3.5 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 91.3 92.8 91.4 88.1 92.0 91.9 92.4 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 3.0 0.1 0.2 0.4 1.6 1.4 1.2 475 SOUTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 60 0 0 0 Debt stock rescheduled .. .. .. 0 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 .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 COMMITMENTS ALL 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 16.2 Official 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 36.3 Private 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 15.9 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 17 29 26 25 24 20 13 2 0 0 Principal 6,268 2,456 3,122 1,138 1,793 175 425 175 173 1,099 Interest 719 445 393 352 257 215 195 174 165 119 Official 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 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 1 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 6,259 2,442 3,105 1,111 1,765 145 395 145 145 1,073 Interest 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 703 434 387 349 254 212 192 172 163 118 476 SRI LANKA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 433 1,841 5,863 8,298 8,118 9,048 9,815 9,155 8,658 9,611 Long-term debt (LDOD) 317 1,230 5,049 7,208 7,213 8,259 8,625 8,310 7,992 8,805 Public and publicly guaranteed 317 1,227 4,947 7,120 7,077 8,064 8,413 7,942 7,603 8,455 Private nonguaranteed 0 3 102 88 136 196 213 368 389 350 Use of IMF credit 79 391 410 531 433 367 258 161 214 310 Short-term debt 38 220 405 560 471 421 931 685 451 496 of which interest arrears on LDOD 0 0 11 116 109 125 141 112 94 99 Official creditors 0 0 0 16 18 20 21 17 12 10 Private creditors 0 0 11 99 92 106 120 95 82 90 Memo: principal arrears on LDOD 0 0 0 163 179 221 255 216 187 202 Official creditors 0 0 0 32 31 42 44 32 22 23 Private creditors 0 0 0 131 148 180 210 185 165 179 Memo: export credits 0 0 566 754 672 166 209 297 199 200 TOTAL DEBT FLOWS Disbursements 75 344 545 626 814 914 504 733 815 713 Long-term debt 66 272 485 626 814 914 504 733 683 587 IMF purchases 10 72 61 0 0 0 0 0 132 125 Principal repayments 56 94 214 288 349 394 536 541 520 496 Long-term debt 29 51 167 242 283 312 436 455 448 445 IMF repurchases 27 43 47 45 66 82 99 86 71 51 Net flows on debt 19 334 331 282 383 454 463 -26 80 257 of which short-term debt 0 84 0 -57 -82 -66 495 -218 -215 39 Interest payments (INT) 12 85 170 179 182 192 221 249 228 220 Long-term debt 12 33 122 151 155 170 190 214 208 208 IMF charges 0 17 21 3 2 2 2 1 3 5 Short-term debt 0 36 27 26 24 19 29 34 17 7 Net transfers on debt 7 248 161 103 201 262 243 -275 -148 36 Total debt service paid (TDS) 68 179 384 467 531 586 757 789 748 716 Long-term debt 41 84 289 393 439 483 626 669 656 653 IMF repurchases and charges 27 59 69 48 68 84 101 87 75 56 Short-term debt (interest only) 0 36 27 26 24 19 29 34 17 7 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 51 425 583 646 1,074 910 356 560 507 500 Net flow of long-term debt (ex. IMF) 36 221 318 384 531 602 68 278 235 143 Foreign direct investment (net) 0 43 43 120 430 193 176 173 172 242 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 15 161 221 142 113 115 112 109 100 115 Memo: 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 56 238 195 182 Interest on long-term debt 12 33 122 151 155 170 190 214 208 208 Profit remittances on FDI 0 15 25 64 77 91 111 109 104 110 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,259 3,997 7,865 13,693 14,931 15,616 15,405 16,032 15,479 16,316 Exports of goods, serv. & inc. (XGS) .. 1,492 2,786 5,868 6,669 6,940 6,780 7,670 7,436 7,330 Worker remit. & comp. of employees 0 152 401 843 934 1,013 1,064 1,154 1,170 1,296 Imports of goods & services (MGS) .. 2,269 3,224 6,477 6,974 7,070 7,198 8,554 7,529 7,429 International reserves (RES) 43 283 447 1,985 2,042 1,998 1,654 1,056 1,304 1,652 Current account balance .. -655 -298 -683 -395 -228 -561 -1,044 -243 -264 4. DEBT INDICATORS EDT / XGS (%) .. 123.4 210.4 141.4 121.7 130.4 144.8 119.4 116.4 131.1 EDT / GNI (%) 19.2 46.1 74.5 60.6 54.4 57.9 63.7 57.1 55.9 58.9 TDS / XGS (%) .. 12.0 13.8 8.0 8.0 8.4 11.2 10.3 10.1 9.8 INT / XGS (%) .. 5.7 6.1 3.1 2.7 2.8 3.3 3.2 3.1 3.0 INT / GNI (%) 0.5 2.1 2.2 1.3 1.2 1.2 1.4 1.6 1.5 1.4 RES / EDT (%) 9.9 15.3 7.6 23.9 25.2 22.1 16.8 11.5 15.1 17.2 RES / MGS (months) .. 1.5 1.7 3.7 3.5 3.4 2.8 1.5 2.1 2.7 Short-term / EDT (%) 8.8 11.9 6.9 6.7 5.8 4.7 9.5 7.5 5.2 5.2 Concessional / EDT (%) 43.2 56.0 71.9 75.4 74.6 75.6 74.1 74.8 74.6 75.1 Multilateral / EDT (%) 6.7 11.7 27.7 35.5 35.5 35.6 36.8 37.2 37.3 39.0 477 SRI LANKA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 317 1,230 5,049 7,208 7,213 8,259 8,625 8,310 7,992 8,805 Public and publicly guaranteed 317 1,227 4,947 7,120 7,077 8,064 8,413 7,942 7,603 8,455 Official 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 3,517 Private 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 83 339 364 377 416 418 502 452 438 Private 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 88 136 196 213 368 389 350 Memo: 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 DISBURSEMENTS 66 272 485 626 814 914 504 733 683 587 Public and publicly guaranteed 66 269 485 626 749 828 452 563 584 539 Official creditors 55 174 396 467 474 559 351 376 410 428 Multilateral 3 32 234 258 176 226 149 123 128 233 Concessional 1 31 233 258 176 226 149 123 128 195 Bilateral 52 141 162 209 298 333 202 253 282 195 Concessional 40 141 162 187 265 320 181 205 250 167 Private creditors 10 96 89 160 274 269 101 188 174 111 Bonds 0 0 0 0 50 65 0 0 159 0 Commercial banks 0 57 59 71 174 162 29 14 11 89 Other private 10 39 30 89 50 43 73 174 4 22 Private nonguaranteed 0 2 0 0 66 86 52 169 100 48 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 2 0 0 66 86 52 169 100 48 Memo: IBRD 1 0 1 0 0 0 0 0 0 0 IDA 1 20 127 104 78 96 49 47 39 91 PRINCIPAL REPAYMENTS 29 51 167 242 283 312 436 455 448 445 Public and publicly guaranteed 29 51 165 239 266 287 401 441 370 358 Official creditors 15 39 88 148 166 189 199 221 236 250 Multilateral 2 5 21 29 37 43 42 50 60 67 Concessional 0 2 13 22 31 37 36 45 56 62 Bilateral 14 34 68 119 129 146 156 171 176 183 Concessional 6 28 64 116 124 134 142 154 159 167 Private creditors 14 12 76 91 100 98 202 220 135 108 Bonds 3 0 0 0 0 0 0 50 0 0 Commercial banks 1 0 29 59 80 76 114 97 81 55 Other private 10 12 47 32 20 23 88 72 53 54 Private nonguaranteed 0 0 2 3 17 26 35 14 78 87 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 2 3 17 26 35 14 78 87 Memo: IBRD 2 2 7 6 6 6 6 5 4 4 IDA 0 0 3 9 10 13 15 18 27 32 NET FLOWS ON DEBT 36 221 318 384 531 602 68 278 235 143 Public and publicly guaranteed 36 219 320 387 483 542 51 123 213 182 Official 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 0 Private 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 -31 Private 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 -39 Memo: IBRD -1 -2 -6 -6 -6 -6 -6 -5 -4 -4 IDA 1 20 124 95 68 84 34 28 12 59 478 SRI LANKA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 12 33 122 151 155 170 190 214 208 208 Public and publicly guaranteed 12 33 120 149 142 151 165 179 167 165 Official creditors 8 25 77 116 108 109 121 126 119 123 Multilateral 3 5 19 28 28 27 32 32 30 31 Concessional 0 2 11 24 25 25 30 30 29 30 Bilateral 6 20 58 88 80 81 89 94 90 92 Concessional 3 19 55 83 74 73 81 86 80 81 Private creditors 4 8 43 33 34 42 45 53 47 42 Bonds 1 0 0 0 0 4 4 6 3 7 Commercial banks 0 0 16 20 21 27 33 29 20 16 Other private 3 8 27 13 13 12 8 18 25 19 Private nonguaranteed 0 0 2 1 13 20 24 35 41 43 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 2 1 13 20 24 35 41 43 Memo: IBRD 3 3 8 4 3 2 2 1 1 1 IDA 0 1 5 11 11 11 12 12 12 12 NET TRANSFERS ON DEBT 24 188 196 234 375 431 -122 64 27 -65 Public and publicly guaranteed 24 186 200 238 341 391 -114 -56 47 17 Official 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 -81 Private 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 -50 Private 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 -82 Memo: IBRD -3 -5 -13 -11 -9 -8 -8 -7 -5 -5 IDA 1 19 118 84 57 72 22 16 0 47 DEBT SERVICE (LTDS) 41 84 289 393 439 483 626 669 656 653 Public and publicly guaranteed 41 84 285 388 408 438 567 620 537 523 Official creditors 24 64 166 264 274 297 320 347 355 372 Multilateral 4 10 39 57 64 70 75 82 90 98 Concessional 0 3 24 47 55 62 66 75 84 93 Bilateral 19 54 126 207 210 227 245 266 266 275 Concessional 9 47 119 199 199 208 224 240 239 249 Private creditors 18 20 119 124 134 140 247 273 182 150 Bonds 4 0 0 0 0 4 4 56 3 7 Commercial banks 1 0 46 79 100 102 147 126 101 70 Other private 13 19 73 45 34 34 96 91 78 72 Private nonguaranteed 0 0 4 4 31 45 60 49 119 130 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 4 4 31 45 60 49 119 130 Memo: IBRD 4 5 14 11 9 8 8 7 5 5 IDA 0 1 8 20 22 24 27 30 39 44 UNDISBURSED DEBT 215 1,147 2,170 2,915 2,696 2,669 2,996 2,493 2,492 2,997 Official creditors 196 899 2,070 2,689 2,526 2,489 2,686 2,292 2,177 2,731 Private creditors 19 248 99 226 170 181 309 201 315 267 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 6.6 6.8 Deutsche mark 13.8 11.2 12.0 7.2 6.2 5.9 4.7 4.7 .. .. French franc 3.6 2.7 3.2 1.9 1.7 1.6 1.3 1.0 .. .. Japanese yen 6.4 15.0 22.7 26.7 25.1 27.1 30.5 29.8 28.7 29.3 Pound sterling 28.8 2.3 3.2 1.8 1.5 1.1 0.8 0.5 0.4 0.3 Swiss franc 0.3 2.4 0.9 0.4 0.4 0.3 0.3 0.2 0.2 0.2 U.S.dollars 19.7 37.0 36.2 38.4 42.5 41.4 36.4 39.0 41.6 40.6 Multiple currency 14.3 8.5 13.9 19.1 18.5 18.8 22.4 21.5 20.1 20.5 Special drawing rights 0.0 0.0 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.6 All other currencies 13.2 21.0 7.5 4.0 3.7 3.4 3.1 2.8 2.0 1.9 479 SRI LANKA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 9 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 60.8 Official 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 62.0 Private 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 41.4 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 934 822 535 328 193 102 58 17 6 1 Principal 612 464 481 493 490 570 510 442 447 451 Interest 196 192 193 188 178 168 153 142 136 126 Official creditors Disbursements 789 738 507 322 189 102 58 17 6 1 Principal 282 296 316 337 352 385 394 408 425 432 Interest 135 142 150 154 152 149 142 138 132 124 Bilateral creditors Disbursements 518 481 308 174 87 40 20 3 2 1 Principal 211 220 232 240 247 254 249 251 252 249 Interest 100 106 111 110 106 100 94 88 82 76 Multilateral creditors Disbursements 271 257 199 148 102 62 38 14 4 0 Principal 71 75 84 97 106 130 145 157 173 183 Interest 35 36 39 44 47 49 48 50 50 48 Private creditors Disbursements 145 84 28 7 3 0 0 0 0 0 Principal 330 168 165 156 138 185 116 33 22 18 Interest 61 50 43 34 26 19 10 4 3 3 Commercial banks Disbursements 81 34 3 0 0 0 0 0 0 0 Principal 62 59 57 55 50 34 30 17 6 5 Interest 18 17 14 11 8 6 4 2 1 1 Other private Disbursements 64 50 25 7 3 0 0 0 0 0 Principal 268 109 108 101 88 151 86 16 16 13 Interest 43 33 28 23 18 14 7 2 2 2 480 ST. KITTS AND NEVIS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 45.2 64.6 114.1 128.2 138.0 156.6 218.0 255.2 Long-term debt (LDOD) .. .. 44.2 62.6 112.0 124.3 133.7 152.7 214.6 252.2 Public and publicly guaranteed .. .. 44.2 62.6 112.0 124.3 133.7 152.7 214.6 252.2 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. .. 0.0 0.0 0.0 2.3 2.2 2.1 2.0 1.1 Short-term debt .. .. 1.0 1.9 2.1 1.5 2.0 1.8 1.4 1.9 of 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 0.0 Memo: 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 0.0 Memo: 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 54.6 Long-term debt .. .. 7.3 13.3 54.9 21.7 19.4 32.1 71.6 54.6 IMF purchases .. .. 0.0 0.0 0.0 2.2 0.0 0.0 0.0 0.0 Principal repayments .. .. 1.5 4.8 4.6 5.8 9.3 12.8 9.4 20.9 Long-term debt .. .. 1.5 4.8 4.6 5.8 9.3 12.8 9.4 19.9 IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.1 Net flows on debt .. .. 5.8 8.8 50.5 17.3 10.8 18.9 61.7 34.2 of which short-term debt .. .. 0.0 0.4 0.2 -0.8 0.6 -0.4 -0.5 0.4 Interest payments (INT) .. .. 1.5 2.1 2.2 4.9 7.8 7.3 11.9 17.3 Long-term debt .. .. 1.4 2.0 2.1 4.8 7.7 7.1 11.8 17.2 IMF charges .. .. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 Short-term debt .. .. 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 Net transfers on debt .. .. 4.3 6.8 48.3 12.5 3.0 11.6 49.8 16.9 Total debt service paid (TDS) .. .. 3.0 6.9 6.8 10.7 17.1 20.1 21.3 38.2 Long-term debt .. .. 2.9 6.8 6.7 10.6 16.9 19.9 21.2 37.1 IMF repurchases and charges .. .. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 1.1 Short-term debt (interest only) .. .. 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 56.6 44.9 69.8 53.2 69.1 117.3 155.5 123.6 Net flow of long-term debt (ex. IMF) .. .. 5.8 8.5 50.3 15.9 10.2 19.3 62.2 34.8 Foreign direct investment (net) .. .. 48.8 35.2 19.7 31.9 57.7 96.2 88.0 80.8 Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 2.0 1.2 -0.2 5.5 1.2 1.8 5.3 8.0 Memo: 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 84.5 Interest on long-term debt .. .. 1.4 2.0 2.1 4.8 7.7 7.1 11.8 17.2 Profit remittances on FDI .. .. 5.0 13.7 16.7 21.3 22.2 21.2 22.7 21.9 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 154.5 224.7 249.7 255.9 276.4 298.7 304.5 308.3 Exports of goods, serv. & inc. (XGS) .. .. 102.8 130.8 143.1 154.5 150.9 155.5 164.7 168.8 Worker remit. & comp. of employees .. .. 17.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. .. 140.1 212.0 219.9 223.1 255.4 282.0 279.6 303.4 International reserves (RES) .. .. 16.3 32.7 36.1 46.8 49.6 45.2 56.4 65.8 Current account balance .. .. -47.0 -65.1 -61.7 -41.5 -84.0 -63.9 -96.5 -116.2 4. DEBT INDICATORS EDT / XGS (%) .. .. 44.0 49.4 79.7 82.9 91.4 100.7 132.4 151.2 EDT / GNI (%) .. .. 29.3 28.7 45.7 50.1 49.9 52.4 71.6 82.8 TDS / XGS (%) .. .. 2.9 5.2 4.8 6.9 11.3 12.9 12.9 22.6 INT / XGS (%) .. .. 1.5 1.6 1.5 3.1 5.2 4.7 7.2 10.2 INT / GNI (%) .. .. 1.0 0.9 0.9 1.9 2.8 2.5 3.9 5.6 RES / EDT (%) .. .. 36.0 50.7 31.6 36.5 35.9 28.9 25.9 25.8 RES / MGS (months) .. .. 1.4 1.9 2.0 2.5 2.3 1.9 2.4 2.6 Short-term / EDT (%) .. .. 2.3 3.0 1.9 1.2 1.5 1.1 0.6 0.8 Concessional / EDT (%) .. .. 76.7 80.6 73.1 68.5 65.7 59.1 44.9 45.0 Multilateral / EDT (%) .. .. 44.2 52.3 35.2 31.5 35.3 34.3 28.9 32.6 481 ST. KITTS AND NEVIS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 44.2 62.6 112.0 124.3 133.7 152.7 214.6 252.2 Public and publicly guaranteed .. .. 44.2 62.6 112.0 124.3 133.7 152.7 214.6 252.2 Official 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 46.4 Private 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 4.4 Private 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 0.0 Memo: 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 54.6 Public and publicly guaranteed .. .. 7.3 13.3 54.9 21.7 19.4 32.1 71.6 54.6 Official 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 1.9 Private 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 0.0 Private 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 0.0 Memo: 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 19.9 Public and publicly guaranteed .. .. 1.5 4.8 4.6 5.8 9.3 12.8 9.4 19.9 Official 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 4.2 Private 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 1.4 Private 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 0.0 Memo: 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 34.8 Public and publicly guaranteed .. .. 5.8 8.5 50.3 15.9 10.2 19.3 62.2 34.8 Official 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 -2.3 Private 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 -1.4 Private 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 0.0 Memo: 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 0.0 482 ST. KITTS AND NEVIS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 1.4 2.0 2.1 4.8 7.7 7.1 11.8 17.2 Public and publicly guaranteed .. .. 1.4 2.0 2.1 4.8 7.7 7.1 11.8 17.2 Official 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 2.0 Private 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 0.4 Private 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 0.0 Memo: 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 17.6 Public and publicly guaranteed .. .. 4.4 6.5 48.2 11.1 2.5 12.2 50.5 17.6 Official 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 -4.3 Private 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 -1.8 Private 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 0.0 Memo: 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 37.1 Public and publicly guaranteed .. .. 2.9 6.8 6.7 10.6 16.9 19.9 21.2 37.1 Official 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 6.2 Private 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 1.8 Private 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 0.0 Memo: 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 UNDISBURSED DEBT .. .. 15.3 66.9 47.8 53.3 65.6 63.6 46.3 54.4 Official creditors .. .. 14.3 66.9 47.8 51.3 50.6 56.7 46.3 46.4 Private creditors .. .. 1.1 0.0 0.0 1.9 15.0 6.9 0.0 8.0 Memorandum items Concessional LDOD .. .. 34.7 52.0 83.4 87.9 90.6 92.5 98.0 114.9 Variable rate LDOD .. .. 0.0 1.7 1.6 1.4 4.7 5.6 13.9 24.9 Public sector LDOD .. .. 40.7 61.7 111.5 124.2 133.7 152.7 214.6 252.2 Private sector LDOD .. .. 3.4 0.9 0.5 0.1 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.4 1.8 Deutsche mark .. .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. 16.3 6.1 3.6 2.8 2.0 1.5 1.0 0.9 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 37.8 55.2 72.5 74.3 75.8 79.5 80.5 84.9 Multiple currency .. .. 35.6 28.9 15.6 12.8 11.1 8.9 5.7 4.6 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.3 0.2 0.2 All other currencies .. .. 10.3 9.8 8.3 10.1 11.1 9.7 10.3 7.7 483 ST. KITTS AND NEVIS (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 4.0 2.0 6.2 5.1 6.8 5.8 5.8 5.4 Maturity (years) .. .. 31.7 32.2 12.0 14.8 15.4 13.2 12.3 12.5 Grace period (years) .. .. 7.5 9.5 6.0 4.0 3.6 2.8 3.1 4.5 Grant element (%) .. .. 41.5 66.1 17.8 27.4 20.7 19.7 21.2 24.6 Official creditors Interest (%) .. .. 4.5 2.0 4.9 4.4 2.8 4.8 4.0 2.3 Maturity (years) .. .. 38.0 32.2 15.0 20.2 21.8 16.5 18.0 17.5 Grace period (years) .. .. 9.0 9.5 3.5 5.7 6.0 4.5 4.1 4.4 Grant element (%) .. .. 46.1 66.1 27.8 38.5 49.8 31.0 36.4 47.0 Private creditors Interest (%) .. .. 2.0 0.0 7.5 6.1 9.6 6.9 6.3 7.6 Maturity (years) .. .. 5.8 0.0 9.1 6.8 10.9 9.9 10.6 9.0 Grace period (years) .. .. 1.3 0.0 8.4 1.4 1.9 1.1 2.7 4.5 Grant element (%) .. .. 22.5 0.0 8.0 10.9 0.6 8.7 16.6 9.0 Memorandum items Commitments .. .. 5 36 37 29 35 32 59 64 Official creditors .. .. 4 36 19 17 14 16 14 26 Private creditors .. .. 1 0 19 12 21 16 45 38 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 54.6 20.7 14.2 8.1 5.2 2.9 1.5 0.8 0.5 0.3 Principal 19.9 19.0 20.4 22.3 22.4 23.7 34.2 22.2 19.4 23.3 Interest 17.2 13.2 12.5 11.6 10.5 9.4 7.3 6.1 5.1 4.1 Official creditors Disbursements 24.6 16.9 11.6 7.0 4.7 2.9 1.5 0.8 0.5 0.3 Principal 6.7 8.6 9.3 9.9 10.7 12.7 12.3 12.4 12.5 12.3 Interest 5.6 4.3 4.3 4.2 4.0 3.7 3.3 2.9 2.5 2.1 Bilateral creditors Disbursements 2.6 2.7 1.5 0.8 0.5 0.1 0.0 0.0 0.0 0.0 Principal 4.7 5.2 5.3 5.4 5.6 5.6 4.8 4.8 4.8 4.8 Interest 2.4 2.1 1.9 1.7 1.5 1.3 1.1 0.9 0.7 0.5 Multilateral creditors Disbursements 22.1 14.2 10.1 6.3 4.2 2.8 1.5 0.8 0.5 0.3 Principal 2.0 3.3 4.1 4.5 5.2 7.1 7.5 7.6 7.7 7.5 Interest 3.2 2.2 2.4 2.5 2.4 2.4 2.2 2.0 1.8 1.6 Private creditors Disbursements 30.0 3.8 2.6 1.0 0.5 0.0 0.0 0.0 0.0 0.0 Principal 13.2 10.4 11.1 12.3 11.7 11.0 21.9 9.8 6.9 11.0 Interest 11.6 8.9 8.2 7.4 6.5 5.7 4.0 3.2 2.5 2.0 Commercial banks Disbursements 30.0 3.8 2.6 1.0 0.5 0.0 0.0 0.0 0.0 0.0 Principal 11.8 9.1 9.9 11.1 11.0 11.0 21.9 9.8 6.9 11.0 Interest 11.3 8.7 8.0 7.3 6.5 5.7 4.0 3.2 2.5 2.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.4 1.3 1.2 1.2 0.6 0.0 0.0 0.0 0.0 0.0 Interest 0.4 0.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 484 ST. LUCIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 79.2 141.6 152.9 190.1 196.2 235.3 235.7 414.9 Long-term debt (LDOD) .. .. 72.1 121.4 119.9 133.6 140.9 167.6 166.0 210.7 Public and publicly guaranteed .. .. 72.1 121.4 119.9 133.6 140.9 167.6 166.0 210.7 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 7.0 20.2 33.0 56.5 55.3 67.8 69.7 204.2 of which interest arrears on LDOD .. .. 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors .. .. 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits .. .. 40.0 31.8 30.7 2.3 2.7 4.9 3.3 3.7 TOTAL DEBT FLOWS Disbursements .. .. 8.0 18.0 10.4 19.5 20.7 50.9 16.7 50.1 Long-term debt .. .. 8.0 18.0 10.4 19.5 20.7 50.9 16.7 50.1 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 3.2 6.5 6.9 8.2 10.3 20.9 13.9 9.4 Long-term debt .. .. 3.2 6.5 6.9 8.2 10.3 20.9 13.9 9.4 IMF repurchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 7.0 14.7 16.3 34.8 9.2 42.5 4.7 175.2 of which short-term debt .. .. 2.2 3.3 12.8 23.5 -1.2 12.5 2.0 134.5 Interest payments (INT) .. .. 3.1 6.2 6.6 8.1 8.9 10.3 11.5 16.7 Long-term debt .. .. 2.8 5.3 5.2 5.8 6.4 7.5 9.0 8.7 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 0.3 0.9 1.4 2.4 2.5 2.8 2.5 8.0 Net transfers on debt .. .. 3.8 8.4 9.7 26.7 0.3 32.2 -6.7 158.4 Total debt service paid (TDS) .. .. 6.3 12.8 13.5 16.3 19.2 31.2 25.4 26.2 Long-term debt .. .. 6.0 11.9 12.1 14.0 16.7 28.4 22.8 18.2 IMF repurchases and charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. .. 0.3 0.9 1.4 2.4 2.5 2.8 2.5 8.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 52.7 58.2 56.3 109.0 113.7 95.2 43.2 78.3 Net flow of long-term debt (ex. IMF) .. .. 4.8 11.4 3.5 11.3 10.4 30.0 2.8 40.7 Foreign direct investment (net) .. .. 44.8 18.4 47.8 83.4 82.8 54.9 22.4 22.2 Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 3.1 28.3 5.0 14.3 20.6 10.3 18.0 15.4 Memo: 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 39.9 Interest on long-term debt .. .. 2.8 5.3 5.2 5.8 6.4 7.5 9.0 8.7 Profit remittances on FDI .. .. 26.5 26.7 26.4 31.9 27.1 31.4 27.8 29.6 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 369.2 530.4 542.1 596.7 626.1 639.4 607.1 616.6 Exports of goods, serv. & inc. (XGS) .. .. 301.2 356.5 362.0 387.6 384.4 406.8 359.9 364.1 Worker remit. & comp. of employees .. .. 14.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. .. 352.1 427.5 453.3 473.4 488.2 486.4 411.3 433.5 International reserves (RES) .. .. 44.6 56.1 61.0 70.6 74.5 78.8 88.9 93.9 Current account balance .. .. -57.0 -57.8 -78.3 -66.4 -81.8 -62.6 -37.7 -56.1 4. DEBT INDICATORS EDT / XGS (%) .. .. 26.3 39.7 42.3 49.0 51.0 57.9 65.5 114.0 EDT / GNI (%) .. .. 21.4 26.7 28.2 31.9 31.3 36.8 38.8 67.3 TDS / XGS (%) .. .. 2.1 3.6 3.7 4.2 5.0 7.7 7.0 7.2 INT / XGS (%) .. .. 1.0 1.8 1.8 2.1 2.3 2.5 3.2 4.6 INT / GNI (%) .. .. 0.9 1.2 1.2 1.4 1.4 1.6 1.9 2.7 RES / EDT (%) .. .. 56.3 39.7 39.9 37.1 38.0 33.5 37.7 22.6 RES / MGS (months) .. .. 1.5 1.6 1.6 1.8 1.8 1.9 2.6 2.6 Short-term / EDT (%) .. .. 8.9 14.3 21.6 29.7 28.2 28.8 29.6 49.2 Concessional / EDT (%) .. .. 41.6 57.8 54.9 45.2 40.6 32.9 30.7 20.6 Multilateral / EDT (%) .. .. 53.3 60.9 56.2 48.9 47.1 42.3 40.3 26.1 485 ST. LUCIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 72.1 121.4 119.9 133.6 140.9 167.6 166.0 210.7 Public and publicly guaranteed .. .. 72.1 121.4 119.9 133.6 140.9 167.6 166.0 210.7 Official creditors .. .. 69.5 121.4 119.9 126.5 119.0 120.7 111.8 126.5 Multilateral .. .. 42.2 86.2 86.0 93.0 92.4 99.5 95.0 108.1 Concessional .. .. 32.5 60.6 61.6 62.0 59.3 58.9 58.0 68.8 Bilateral .. .. 27.3 35.1 33.9 33.6 26.6 21.3 16.7 18.4 Concessional .. .. 0.4 21.3 22.3 23.8 20.4 18.5 14.3 16.5 Private creditors .. .. 2.6 0.0 0.0 7.1 21.9 46.8 54.2 84.2 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 2.6 0.0 0.0 7.1 21.9 46.8 54.2 84.2 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. 0.0 0.0 3.9 3.7 5.4 6.2 6.0 5.2 5.9 IDA .. 0.0 0.0 8.2 9.7 11.4 11.6 11.6 11.8 20.1 DISBURSEMENTS .. .. 8.0 18.0 10.4 19.5 20.7 50.9 16.7 50.1 Public and publicly guaranteed .. .. 8.0 18.0 10.4 19.5 20.7 50.9 16.7 50.1 Official 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 2.9 Private 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 0.0 Private 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 0.0 Memo: 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 PRINCIPAL REPAYMENTS .. .. 3.2 6.5 6.9 8.2 10.3 20.9 13.9 9.4 Public and publicly guaranteed .. .. 3.2 6.5 6.9 8.2 10.3 20.9 13.9 9.4 Official creditors .. .. 2.4 6.5 6.9 8.2 10.2 11.7 7.9 9.4 Multilateral .. .. 2.4 4.5 4.9 5.4 5.7 6.6 6.8 6.4 Concessional .. .. 2.0 2.7 2.8 3.2 3.2 3.1 3.4 3.8 Bilateral .. .. 0.0 2.1 2.0 2.8 4.6 5.1 1.1 3.0 Concessional .. .. 0.0 0.1 0.1 0.9 1.3 2.0 0.8 2.2 Private creditors .. .. 0.8 0.0 0.0 0.0 0.1 9.2 6.0 0.0 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 0.0 0.1 9.2 6.0 0.0 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. 0.0 0.0 0.2 0.2 0.2 0.2 0.5 0.7 0.7 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 NET FLOWS ON DEBT .. .. 4.8 11.4 3.5 11.3 10.4 30.0 2.8 40.7 Public and publicly guaranteed .. .. 4.8 11.4 3.5 11.3 10.4 30.0 2.8 40.7 Official 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 0.7 Private 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 0.0 Private 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 0.0 Memo: 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 7.1 486 ST. LUCIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 2.8 5.3 5.2 5.8 6.4 7.5 9.0 8.7 Public and publicly guaranteed .. .. 2.8 5.3 5.2 5.8 6.4 7.5 9.0 8.7 Official creditors .. .. 2.6 5.3 5.2 5.8 5.3 5.2 4.1 4.2 Multilateral .. .. 1.8 3.5 3.7 3.9 3.6 4.0 3.8 3.5 Concessional .. .. 1.3 1.7 1.9 2.0 1.4 1.7 1.5 1.6 Bilateral .. .. 0.8 1.9 1.5 1.8 1.7 1.2 0.3 0.7 Concessional .. .. 0.0 0.9 0.9 0.9 1.0 0.9 0.3 0.7 Private creditors .. .. 0.2 0.0 0.0 0.0 1.1 2.3 4.9 4.6 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.2 0.0 0.0 0.0 1.1 2.3 4.9 4.6 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. 0.0 0.0 0.2 0.3 0.3 0.3 0.3 0.3 0.3 IDA .. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 NET TRANSFERS ON DEBT .. .. 2.0 6.1 -1.7 5.5 4.0 22.5 -6.2 31.9 Public and publicly guaranteed .. .. 2.0 6.1 -1.7 5.5 4.0 22.5 -6.2 31.9 Official 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 0.0 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) .. .. 6.0 11.9 12.1 14.0 16.7 28.4 22.8 18.2 Public and publicly guaranteed .. .. 6.0 11.9 12.1 14.0 16.7 28.4 22.8 18.2 Official creditors .. .. 5.0 11.9 12.1 13.9 15.5 16.9 12.0 13.5 Multilateral .. .. 4.2 7.9 8.6 9.3 9.3 10.7 10.6 9.9 Concessional .. .. 3.3 4.5 4.7 5.2 4.6 4.8 4.8 5.4 Bilateral .. .. 0.8 3.9 3.5 4.6 6.3 6.2 1.4 3.7 Concessional .. .. 0.0 1.0 0.9 1.7 2.3 2.9 1.1 2.9 Private creditors .. .. 1.0 0.0 0.0 0.0 1.1 11.5 10.9 4.6 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 0.0 1.1 11.5 10.9 4.6 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. 0.0 0.0 0.4 0.5 0.4 0.6 0.9 1.0 1.0 IDA .. 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 UNDISBURSED DEBT .. .. 53.5 53.7 60.8 55.4 61.8 65.5 74.7 110.8 Official creditors .. .. 53.5 53.7 46.7 45.0 42.2 56.5 74.7 95.8 Private creditors .. .. 0.0 0.0 14.1 10.4 19.6 9.0 0.0 15.0 Memorandum items Concessional LDOD .. .. 32.9 81.9 84.0 85.9 79.7 77.4 72.3 85.3 Variable rate LDOD .. .. 0.0 4.5 5.1 7.5 11.4 11.6 17.0 22.8 Public sector LDOD .. .. 72.1 121.4 119.9 133.6 140.9 167.6 166.0 210.7 Private sector LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 4.6 5.2 Deutsche mark .. .. 6.0 2.0 1.6 1.3 0.9 0.6 .. .. French franc .. .. 0.3 14.0 13.2 12.0 8.9 6.2 .. .. Japanese yen .. .. 4.0 1.7 1.2 1.0 0.7 0.3 0.0 0.0 Pound sterling .. .. 40.3 12.1 10.2 7.7 4.8 1.9 1.7 1.0 Swiss franc .. .. 1.1 0.3 0.3 0.2 0.1 0.0 0.0 0.0 U.S.dollars .. .. 32.8 57.8 62.4 61.9 58.4 50.3 53.1 58.7 Multiple currency .. .. 0.0 5.2 5.1 5.8 6.0 5.0 5.0 4.8 Special drawing rights .. .. 0.8 1.6 1.7 1.9 2.2 1.8 1.7 1.5 All other currencies .. .. 14.8 5.3 4.2 8.3 18.0 33.9 34.1 28.8 487 ST. LUCIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.4 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 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 4.3 5.7 6.1 4.2 2.7 7.3 5.5 5.2 Maturity (years) .. .. 24.1 15.9 12.9 22.1 6.6 18.0 18.4 15.9 Grace period (years) .. .. 8.2 3.1 8.0 7.8 4.1 9.3 5.2 4.4 Grant element (%) .. .. 42.8 20.4 23.5 43.7 18.4 17.9 29.0 30.1 Official creditors Interest (%) .. .. 4.3 5.7 3.3 3.1 0.6 6.0 3.9 2.4 Maturity (years) .. .. 24.1 15.9 15.7 26.1 24.9 22.7 23.5 21.6 Grace period (years) .. .. 8.2 3.1 3.6 7.6 6.9 5.5 6.4 6.1 Grant element (%) .. .. 42.8 20.4 38.5 53.3 66.4 26.7 43.9 52.1 Private creditors Interest (%) .. .. 0.0 0.0 8.0 7.5 3.0 8.7 8.5 7.7 Maturity (years) .. .. 0.0 0.0 11.0 8.9 4.4 13.2 9.2 10.8 Grace period (years) .. .. 0.0 0.0 11.0 8.3 3.7 13.2 2.8 3.0 Grant element (%) .. .. 0.0 0.0 13.0 12.3 12.4 9.1 2.1 9.8 Memorandum items Commitments .. .. 35 3 24 14 27 65 38 86 Official creditors .. .. 35 3 10 11 3 33 24 41 Private creditors .. .. 0 0 14 3 24 33 13 45 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 50.1 34.1 28.4 17.6 10.9 7.6 4.6 3.0 1.8 1.5 Principal 9.4 16.3 11.0 14.7 18.6 20.6 38.0 20.5 19.4 17.7 Interest 8.7 11.8 12.3 12.3 11.9 11.1 10.1 7.8 6.9 6.0 Official creditors Disbursements 20.1 26.9 23.4 15.7 10.0 7.6 4.6 3.0 1.8 1.5 Principal 9.4 10.3 10.7 10.8 13.4 14.5 14.7 14.3 13.2 11.5 Interest 4.2 4.9 5.0 4.9 4.7 4.3 3.9 3.4 2.9 2.5 Bilateral creditors Disbursements 2.9 1.2 2.4 1.9 1.3 0.8 0.6 0.3 0.2 0.2 Principal 3.0 2.3 2.3 2.3 3.3 3.0 3.0 2.6 2.1 1.3 Interest 0.7 0.9 0.9 0.8 0.8 0.6 0.5 0.4 0.3 0.2 Multilateral creditors Disbursements 17.2 25.7 21.0 13.8 8.8 6.7 4.0 2.6 1.6 1.4 Principal 6.4 8.0 8.4 8.5 10.1 11.4 11.7 11.8 11.1 10.2 Interest 3.5 4.0 4.1 4.1 4.0 3.7 3.4 3.0 2.6 2.3 Private creditors Disbursements 30.0 7.2 5.0 2.0 0.9 0.0 0.0 0.0 0.0 0.0 Principal 0.0 6.0 0.4 3.9 5.2 6.2 23.3 6.2 6.2 6.2 Interest 4.6 6.9 7.3 7.4 7.2 6.8 6.2 4.4 3.9 3.5 Commercial banks Disbursements 30.0 7.2 5.0 2.0 0.9 0.0 0.0 0.0 0.0 0.0 Principal 0.0 6.0 0.4 3.9 5.2 6.2 23.3 6.2 6.2 6.2 Interest 4.6 6.9 7.3 7.4 7.2 6.8 6.2 4.4 3.9 3.5 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 488 ST. VINCENT AND THE GRENADINES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1.5 10.6 61.0 123.3 118.4 136.5 194.4 195.6 194.6 206.1 Long-term debt (LDOD) 1.5 10.3 58.9 93.9 92.8 108.1 162.6 164.3 163.3 173.7 Public and publicly guaranteed 1.5 10.3 58.9 93.9 92.8 108.1 162.6 164.3 163.3 173.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 0.0 2.1 29.4 25.6 28.4 31.9 31.4 31.3 32.4 of which interest arrears on LDOD 0.0 0.0 0.1 0.5 0.2 0.0 0.1 0.4 1.3 2.4 Official creditors 0.0 0.0 0.1 0.0 0.1 0.0 0.1 0.4 0.3 0.3 Private creditors 0.0 0.0 0.0 0.5 0.1 0.0 0.0 0.0 0.9 2.0 Memo: principal arrears on LDOD 0.0 0.0 0.1 0.9 0.1 0.2 0.3 0.9 0.1 0.6 Official creditors 0.0 0.0 0.1 0.0 0.1 0.2 0.3 0.9 0.1 0.6 Private creditors 0.0 0.0 0.0 0.9 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits 0.0 0.0 2.0 5.4 20.4 18.5 14.4 17.1 16.1 17.7 TOTAL DEBT FLOWS Disbursements 0.4 3.5 7.2 8.7 9.8 20.8 64.2 8.5 7.8 18.1 Long-term debt 0.4 3.0 7.2 8.7 9.8 20.8 64.2 8.5 7.8 18.1 IMF purchases 0.0 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.0 0.1 2.4 5.8 6.9 6.8 6.2 6.2 6.7 7.6 Long-term debt 0.0 0.1 2.4 5.8 6.9 6.8 6.2 6.2 6.7 7.6 IMF repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt 0.4 3.4 5.2 4.9 -0.7 17.0 61.5 1.5 0.2 10.5 of which short-term debt 0.0 0.0 0.4 2.0 -3.6 3.0 3.4 -0.8 -0.9 0.0 Interest payments (INT) 0.1 0.3 1.9 4.5 4.8 5.0 8.4 7.0 7.2 5.6 Long-term debt 0.1 0.3 1.7 2.9 3.2 3.4 6.6 5.2 5.4 4.4 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 0.0 0.2 1.7 1.6 1.6 1.8 1.9 1.8 1.2 Net transfers on debt 0.3 3.1 3.3 0.4 -5.5 11.9 53.1 -5.5 -7.0 4.9 Total debt service paid (TDS) 0.1 0.4 4.3 10.3 11.8 11.9 14.5 13.3 13.9 13.2 Long-term debt 0.1 0.4 4.1 8.7 10.1 10.3 12.7 11.4 12.1 12.0 IMF repurchases and charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) 0.0 0.0 0.2 1.7 1.6 1.6 1.8 1.9 1.8 1.2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 0.4 8.9 15.9 66.2 99.7 114.5 127.5 35.0 26.9 33.9 Net 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 10.5 Foreign direct investment (net) 0.0 1.1 7.7 42.7 92.5 89.0 56.1 29.1 21.1 19.0 Portfolio equity flows 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) 0.0 4.9 3.4 20.6 4.4 11.6 13.4 3.6 4.7 4.4 Memo: 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 19.5 Interest on long-term debt 0.1 0.3 1.7 2.9 3.2 3.4 6.6 5.2 5.4 4.4 Profit remittances on FDI 0.0 0.0 13.3 9.2 10.3 10.9 14.8 12.7 11.2 10.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 18.5 59.4 187.3 271.1 283.0 304.5 311.2 316.3 329.8 342.7 Exports of goods, serv. & inc. (XGS) .. 39.6 148.7 153.3 149.4 160.3 178.5 181.1 179.3 174.1 Worker remit. & comp. of employees 0.0 0.0 14.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. 65.0 167.9 199.3 244.3 265.9 266.0 228.1 232.1 228.8 International reserves (RES) .. 7.3 26.5 30.2 31.2 38.8 42.6 55.2 61.4 53.2 Current account balance .. -9.3 -23.6 -35.5 -84.2 -94.5 -72.1 -28.2 -37.5 .. 4. DEBT INDICATORS EDT / XGS (%) .. 26.8 41.0 80.4 79.2 85.1 108.9 108.0 108.5 118.4 EDT / GNI (%) 7.9 17.9 32.6 45.5 41.8 44.8 62.5 61.9 59.0 60.1 TDS / XGS (%) .. 1.1 2.9 6.7 7.9 7.4 8.1 7.3 7.8 7.6 INT / XGS (%) .. 0.7 1.3 3.0 3.2 3.1 4.7 3.9 4.0 3.2 INT / GNI (%) 0.4 0.5 1.0 1.7 1.7 1.7 2.7 2.2 2.2 1.6 RES / EDT (%) .. 68.4 43.5 24.5 26.3 28.4 21.9 28.2 31.6 25.8 RES / MGS (months) .. 1.3 1.9 1.8 1.5 1.7 1.9 2.9 3.2 2.8 Short-term / EDT (%) 0.0 0.0 3.5 23.9 21.6 20.8 16.4 16.0 16.1 15.7 Concessional / EDT (%) 0.0 56.9 82.5 63.2 68.9 67.6 47.1 47.3 47.5 46.2 Multilateral / EDT (%) 0.0 58.4 81.0 46.6 51.1 50.9 34.1 34.8 36.0 37.5 489 ST. VINCENT AND THE GRENADINES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1.5 10.3 58.9 93.9 92.8 108.1 162.6 164.3 163.3 173.7 Public and publicly guaranteed 1.5 10.3 58.9 93.9 92.8 108.1 162.6 164.3 163.3 173.7 Official creditors 0.0 9.4 58.8 89.1 91.0 106.7 103.7 105.8 105.2 108.1 Multilateral 0.0 6.2 49.4 57.4 60.5 69.5 66.3 68.1 70.1 77.3 Concessional 0.0 5.1 41.9 46.9 51.4 55.1 54.2 54.9 57.3 64.3 Bilateral 0.0 3.2 9.5 31.7 30.5 37.2 37.4 37.7 35.2 30.8 Concessional 0.0 1.0 8.5 31.0 30.2 37.2 37.4 37.7 35.2 30.8 Private creditors 1.5 0.9 0.0 4.8 1.8 1.4 58.9 58.5 58.1 65.6 Bonds 1.5 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 0.0 0.0 0.0 4.8 1.8 1.4 58.9 58.5 58.1 65.6 Other private 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.3 0.3 0.2 0.2 0.1 0.1 0.1 IDA 0.0 0.0 6.2 7.8 7.3 7.6 7.4 7.0 7.7 10.1 DISBURSEMENTS 0.4 3.0 7.2 8.7 9.8 20.8 64.2 8.5 7.8 18.1 Public and publicly guaranteed 0.4 3.0 7.2 8.7 9.8 20.8 64.2 8.5 7.8 18.1 Official creditors 0.0 2.9 7.2 8.7 9.8 20.8 6.4 8.5 7.8 9.5 Multilateral 0.0 2.8 6.6 1.8 8.6 12.4 3.6 5.7 6.5 8.9 Concessional 0.0 1.9 5.3 1.3 8.0 6.5 3.2 2.6 5.6 8.5 Bilateral 0.0 0.1 0.6 6.9 1.2 8.4 2.8 2.8 1.3 0.7 Concessional 0.0 0.0 0.6 6.9 1.2 8.4 2.8 2.8 1.3 0.7 Private creditors 0.4 0.1 0.0 0.0 0.0 0.0 57.9 0.0 0.0 8.6 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 0.0 0.0 57.9 0.0 0.0 8.6 Other private 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.2 IDA 0.0 0.0 0.9 0.0 0.0 0.1 0.1 0.0 1.1 1.8 PRINCIPAL REPAYMENTS 0.0 0.1 2.4 5.8 6.9 6.8 6.2 6.2 6.7 7.6 Public and publicly guaranteed 0.0 0.1 2.4 5.8 6.9 6.8 6.2 6.2 6.7 7.6 Official creditors 0.0 0.1 2.4 5.8 5.4 6.4 5.8 5.8 6.3 6.5 Multilateral 0.0 0.1 2.2 4.4 3.7 4.5 3.9 3.9 3.7 4.0 Concessional 0.0 0.1 1.7 3.1 2.6 3.2 2.6 2.6 2.7 2.6 Bilateral 0.0 0.0 0.2 1.4 1.6 2.0 1.9 1.9 2.7 2.6 Concessional 0.0 0.0 0.1 1.0 1.4 1.7 1.9 1.9 2.7 2.6 Private creditors 0.0 0.0 0.0 0.0 1.6 0.4 0.4 0.4 0.4 1.1 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 1.6 0.4 0.4 0.4 0.4 1.1 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0 0.2 IDA 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 NET FLOWS ON DEBT 0.4 2.9 4.8 2.9 2.9 14.0 58.1 2.3 1.1 10.5 Public and publicly guaranteed 0.4 2.9 4.8 2.9 2.9 14.0 58.1 2.3 1.1 10.5 Official 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 -1.9 Private 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 0.0 Private 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 0.0 Memo: 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 1.7 490 ST. VINCENT AND THE GRENADINES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 0.1 0.3 1.7 2.9 3.2 3.4 6.6 5.2 5.4 4.4 Public and publicly guaranteed 0.1 0.3 1.7 2.9 3.2 3.4 6.6 5.2 5.4 4.4 Official creditors 0.0 0.2 1.7 2.7 2.7 3.2 3.3 3.3 3.9 3.7 Multilateral 0.0 0.2 1.5 2.0 1.9 2.2 2.2 2.2 2.6 2.5 Concessional 0.0 0.1 1.1 1.4 1.3 1.8 1.7 1.7 2.0 2.0 Bilateral 0.0 0.0 0.3 0.8 0.8 1.0 1.1 1.2 1.3 1.2 Concessional 0.0 0.0 0.2 0.7 0.8 1.0 1.1 1.2 1.3 1.2 Private creditors 0.1 0.1 0.0 0.1 0.5 0.2 3.2 1.8 1.5 0.7 Bonds 0.1 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 0.5 0.2 3.2 1.8 1.5 0.7 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: 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 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 NET TRANSFERS ON DEBT 0.3 2.6 3.1 0.1 -0.3 10.5 51.5 -2.8 -4.3 6.1 Public and publicly guaranteed 0.3 2.6 3.1 0.1 -0.3 10.5 51.5 -2.8 -4.3 6.1 Official 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 -3.1 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 0.1 0.4 4.1 8.7 10.1 10.3 12.7 11.4 12.1 12.0 Public and publicly guaranteed 0.1 0.4 4.1 8.7 10.1 10.3 12.7 11.4 12.1 12.0 Official creditors 0.0 0.4 4.1 8.5 8.1 9.7 9.1 9.1 10.2 10.2 Multilateral 0.0 0.4 3.6 6.4 5.6 6.7 6.1 6.1 6.3 6.5 Concessional 0.0 0.3 2.9 4.5 3.9 5.0 4.4 4.3 4.8 4.6 Bilateral 0.0 0.0 0.5 2.1 2.5 3.0 3.1 3.1 3.9 3.7 Concessional 0.0 0.0 0.2 1.6 2.1 2.7 3.1 3.1 3.9 3.7 Private creditors 0.1 0.1 0.0 0.1 2.1 0.6 3.6 2.2 1.9 1.8 Bonds 0.1 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 3.6 2.2 1.9 1.8 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.0 0.0 0.0 0.2 0.1 0.1 0.1 0.0 0.0 0.2 IDA 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.1 0.1 UNDISBURSED DEBT 0.0 13.4 29.6 53.3 44.7 34.1 26.6 19.0 25.0 31.1 Official creditors 0.0 12.2 29.6 53.3 44.7 34.1 26.6 19.0 16.3 30.9 Private creditors 0.0 1.2 0.0 0.0 0.0 0.0 0.0 0.0 8.7 0.1 Memorandum items Concessional LDOD 0.0 6.1 50.3 77.9 81.6 92.3 91.6 92.6 92.4 95.2 Variable rate LDOD 0.0 0.0 0.0 1.1 7.3 10.3 50.4 51.2 52.4 63.3 Public sector LDOD 1.5 10.3 58.9 93.9 92.8 108.1 162.6 164.3 163.3 173.7 Private sector LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 6.2 6.7 Deutsche mark 0.0 0.0 0.7 0.5 0.4 0.4 0.2 0.2 .. .. French franc 0.0 0.0 0.2 4.1 3.6 3.0 1.9 2.1 .. .. Japanese yen 0.0 0.0 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 36.7 4.6 5.0 4.3 5.3 3.1 2.8 2.2 0.1 Swiss franc 0.0 0.0 0.2 1.1 0.9 0.8 0.4 0.3 0.3 0.2 U.S.dollars 0.0 20.9 67.5 70.2 74.4 70.9 82.6 82.7 84.3 82.6 Multiple currency 0.0 11.3 9.8 3.7 3.0 1.9 0.9 0.5 0.3 0.2 Special drawing rights 0.0 0.0 3.6 3.0 2.9 2.7 1.3 1.8 1.6 1.6 All other currencies 100.0 31.1 13.2 12.5 10.5 15.0 9.7 9.6 5.1 8.5 491 ST. VINCENT AND THE GRENADINES (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.8 0.3 1.4 0.0 0.0 0.0 0.8 3.4 Memo: interest forgiven .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.5 4.8 4.0 4.3 4.3 3.9 4.4 2.5 3.9 2.4 Maturity (years) 13.5 17.2 20.7 22.2 15.6 20.7 18.8 30.1 16.6 21.3 Grace period (years) 13.5 4.9 4.9 5.9 3.5 5.5 4.3 10.3 3.4 6.3 Grant element (%) 18.1 32.8 39.8 38.3 32.2 41.6 34.9 61.6 34.1 52.4 Official creditors Interest (%) 0.0 4.0 4.0 4.3 4.3 3.9 0.0 2.5 3.4 2.4 Maturity (years) 0.0 20.1 20.7 22.2 15.6 20.7 0.0 30.1 23.1 21.3 Grace period (years) 0.0 6.1 4.9 5.9 3.5 5.5 0.0 10.3 6.9 6.3 Grant element (%) 0.0 40.2 39.8 38.3 32.2 41.6 0.0 61.6 47.2 52.4 Private creditors Interest (%) 7.5 7.5 0.0 0.0 0.0 0.0 4.4 0.0 4.2 0.0 Maturity (years) 13.5 7.3 0.0 0.0 0.0 0.0 18.8 0.0 11.3 0.0 Grace period (years) 13.5 0.8 0.0 0.0 0.0 0.0 4.3 0.0 0.5 0.0 Grant element (%) 18.1 7.2 0.0 0.0 0.0 0.0 34.9 0.0 23.3 0.0 Memorandum items Commitments 0 6 8 22 2 13 58 1 16 25 Official creditors 0 4 8 22 2 13 0 1 7 25 Private creditors 0 1 0 0 0 0 58 0 9 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 18.1 6.5 8.4 6.0 4.0 2.6 1.6 0.9 0.5 0.3 Principal 7.6 12.0 13.7 13.1 12.6 12.1 12.9 13.3 13.3 12.3 Interest 4.4 3.7 3.5 3.3 3.1 2.9 2.6 2.4 2.1 1.8 Official creditors Disbursements 9.5 6.3 8.4 6.0 4.0 2.6 1.6 0.9 0.5 0.3 Principal 6.5 9.1 8.9 8.3 8.0 7.7 8.4 8.8 8.8 7.8 Interest 3.7 2.8 2.7 2.6 2.4 2.3 2.1 1.9 1.6 1.4 Bilateral creditors Disbursements 0.7 3.0 5.0 3.5 2.4 1.4 0.8 0.4 0.2 0.0 Principal 2.6 3.3 2.9 2.5 2.9 2.8 3.2 3.6 3.6 2.9 Interest 1.2 1.0 1.0 1.0 1.0 0.9 0.9 0.8 0.7 0.6 Multilateral creditors Disbursements 8.9 3.3 3.4 2.5 1.5 1.2 0.8 0.5 0.3 0.3 Principal 4.0 5.8 6.0 5.8 5.1 4.8 5.2 5.2 5.2 4.9 Interest 2.5 1.8 1.7 1.6 1.5 1.3 1.2 1.1 1.0 0.8 Private creditors Disbursements 8.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.1 2.8 4.8 4.8 4.6 4.5 4.5 4.5 4.5 4.5 Interest 0.7 0.9 0.8 0.7 0.7 0.6 0.6 0.5 0.4 0.4 Commercial banks Disbursements 8.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.1 2.8 4.8 4.8 4.6 4.5 4.5 4.5 4.5 4.5 Interest 0.7 0.9 0.8 0.7 0.7 0.6 0.6 0.5 0.4 0.4 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 492 SUDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 385 5,177 14,762 16,972 16,326 16,843 16,132 15,741 15,414 16,389 Long-term debt (LDOD) 294 4,147 9,651 9,865 9,494 9,722 9,348 9,143 8,984 9,539 Public and publicly guaranteed 294 3,822 9,155 9,369 8,998 9,226 8,852 8,647 8,488 9,043 Private nonguaranteed 0 325 496 496 496 496 496 496 496 496 Use of IMF credit 31 431 956 893 797 772 715 625 551 573 Short-term debt 61 599 4,155 6,214 6,035 6,349 6,069 5,974 5,879 6,277 of 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 30 461 916 903 971 885 873 860 967 Memo: 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 2,044 Memo: 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 0 Long-term debt 47 711 185 17 5 0 0 0 0 0 IMF purchases 0 210 0 0 0 0 0 0 0 0 Principal repayments 29 131 16 36 42 58 43 59 54 22 Long-term debt 21 53 15 0 0 1 6 4 2 0 IMF repurchases 8 78 1 36 42 57 38 54 52 22 Net flows on debt 70 839 169 -119 -157 -13 -191 -97 -183 -26 of which short-term debt 52 50 0 -100 -120 45 -147 -39 -129 -4 Interest payments (INT) 13 133 34 12 15 3 13 2 2 1 Long-term debt 12 49 9 0 0 2 7 2 1 0 IMF charges 0 14 0 12 15 1 7 0 1 1 Short-term debt 1 70 25 0 0 0 0 0 0 0 Net transfers on debt 57 707 135 -131 -172 -16 -204 -100 -185 -27 Total debt service paid (TDS) 42 264 50 48 58 61 57 61 56 23 Long-term debt 33 102 23 0 0 3 12 7 3 1 IMF repurchases and charges 8 92 1 48 57 58 44 54 53 23 Short-term debt (interest only) 1 70 25 0 0 0 0 0 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 29 1,046 603 161 221 557 582 564 730 919 Net flow of long-term debt (ex. IMF) 26 657 170 17 5 -1 -6 -4 -2 0 Foreign direct investment (net) 0 0 0 0 98 371 371 392 574 633 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 388 433 144 118 188 216 176 158 286 Memo: 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 17 997 595 161 220 556 575 561 729 919 Interest on long-term debt 12 49 9 0 0 2 7 2 1 0 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,713 8,237 24,258 8,475 10,304 10,697 10,598 10,697 11,968 13,142 Exports of goods, serv. & inc. (XGS) .. 1,286 573 898 1,059 1,312 1,545 2,477 2,462 2,986 Worker remit. & comp. of employees 0 256 62 222 420 687 665 641 740 978 Imports of goods & services (MGS) .. 1,576 1,025 1,541 1,600 1,947 1,654 2,594 2,627 3,607 International reserves (RES) 22 49 11 107 82 91 189 247 118 441 Current 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 1,044.2 635.5 626.2 548.9 EDT / GNI (%) 22.5 62.8 60.9 200.3 158.5 157.5 152.2 147.2 128.8 124.7 TDS / XGS (%) .. 20.5 8.7 5.3 5.4 4.7 3.7 2.5 2.3 0.8 INT / XGS (%) .. 10.3 5.9 1.4 1.4 0.2 0.9 0.1 0.1 0.0 INT / GNI (%) 0.7 1.6 0.1 0.1 0.1 0.0 0.1 0.0 0.0 0.0 RES / EDT (%) 5.6 0.9 0.1 0.6 0.5 0.5 1.2 1.6 0.8 2.7 RES / MGS (months) .. 0.4 0.1 0.8 0.6 0.6 1.4 1.1 0.5 1.5 Short-term / EDT (%) 15.7 11.6 28.1 36.6 37.0 37.7 37.6 37.9 38.1 38.3 Concessional / EDT (%) 36.0 33.4 30.2 28.0 28.4 27.9 28.8 29.0 29.2 28.3 Multilateral / EDT (%) 26.9 12.2 11.7 12.3 12.3 12.2 12.5 12.4 12.3 12.1 493 SUDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 294 4,147 9,651 9,865 9,494 9,722 9,348 9,143 8,984 9,539 Public and publicly guaranteed 294 3,822 9,155 9,369 8,998 9,226 8,852 8,647 8,488 9,043 Official 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 2,839 Private 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 4 Private 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 0 325 496 496 496 496 496 496 496 496 Memo: 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 DISBURSEMENTS 47 711 185 17 5 0 0 0 0 0 Public and publicly guaranteed 47 711 185 17 5 0 0 0 0 0 Official creditors 45 566 185 17 5 0 0 0 0 0 Multilateral 15 189 185 17 5 0 0 0 0 0 Concessional 0 80 180 2 0 0 0 0 0 0 Bilateral 30 377 0 0 0 0 0 0 0 0 Concessional 15 190 0 0 0 0 0 0 0 0 Private creditors 2 145 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 108 0 0 0 0 0 0 0 0 Other private 2 37 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 15 1 0 0 0 0 0 0 0 0 IDA 0 37 121 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 21 53 15 0 0 1 6 4 2 0 Public and publicly guaranteed 21 53 15 0 0 1 6 4 2 0 Official creditors 16 46 15 0 0 1 6 4 2 0 Multilateral 4 15 15 0 0 1 6 4 2 0 Concessional 0 3 4 0 0 0 0 2 1 0 Bilateral 12 32 0 0 0 0 0 0 0 0 Concessional 5 11 0 0 0 0 0 0 0 0 Private creditors 5 7 0 0 0 0 0 0 0 0 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 3 4 0 0 0 0 0 0 0 0 Other private 1 3 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 4 4 10 0 0 0 3 2 0 0 IDA 0 0 4 0 0 0 0 2 1 0 NET FLOWS ON DEBT 26 657 170 17 5 -1 -6 -4 -2 0 Public and publicly guaranteed 26 657 170 17 5 -1 -6 -4 -2 0 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 11 -3 -10 0 0 0 -3 -2 0 0 IDA 0 36 117 0 0 0 0 -2 -1 0 494 SUDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 12 49 9 0 0 2 7 2 1 0 Public and publicly guaranteed 12 49 9 0 0 2 7 2 1 0 Official creditors 10 44 9 0 0 2 7 2 1 0 Multilateral 5 8 9 0 0 2 7 2 1 0 Concessional 0 2 6 0 0 0 0 2 1 0 Bilateral 5 35 0 0 0 0 0 0 0 0 Concessional 3 26 0 0 0 0 0 0 0 0 Private creditors 2 5 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 2 0 0 0 0 0 0 0 0 Other private 0 3 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 5 4 2 0 0 0 1 0 0 0 IDA 0 1 6 0 0 0 0 2 1 0 NET TRANSFERS ON DEBT 14 609 162 17 4 -3 -12 -7 -3 -1 Public and publicly guaranteed 14 609 162 17 4 -3 -12 -7 -3 -1 Official 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 0 Private 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 0 Private 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 0 Memo: IBRD 6 -7 -11 0 0 0 -4 -3 0 0 IDA 0 35 110 0 0 0 0 -4 -2 -1 DEBT SERVICE (LTDS) 33 102 23 0 0 3 12 7 3 1 Public and publicly guaranteed 33 102 23 0 0 3 12 7 3 1 Official creditors 26 90 23 0 0 3 12 7 3 1 Multilateral 9 23 23 0 0 3 12 7 3 1 Concessional 0 5 10 0 0 0 0 4 2 1 Bilateral 17 67 0 0 0 0 0 0 0 0 Concessional 9 37 0 0 0 0 0 0 0 0 Private creditors 7 12 0 0 0 0 0 0 0 0 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 5 6 0 0 0 0 0 0 0 0 Other private 1 6 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 9 8 11 0 0 0 4 3 0 0 IDA 0 1 10 0 0 0 0 4 2 1 UNDISBURSED DEBT 124 1,309 1,284 583 561 540 23 22 1 1 Official creditors 119 1,167 1,284 583 561 540 23 22 1 1 Private creditors 4 143 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 7.4 8.2 Deutsche mark 7.1 0.5 1.0 0.9 0.8 0.9 0.8 0.8 .. .. French franc 0.0 2.3 3.4 3.2 3.0 3.1 2.8 2.6 .. .. Japanese yen 0.0 2.0 2.3 2.7 2.5 2.7 3.2 2.9 2.6 2.7 Pound sterling 15.6 7.0 4.3 3.7 3.8 3.7 3.8 3.7 3.7 3.7 Swiss franc 0.0 0.6 18.6 17.5 16.9 17.4 15.6 15.6 15.5 17.6 U.S.dollars 11.1 54.4 48.1 49.3 50.8 49.9 51.7 52.5 53.1 50.5 Multiple currency 31.1 2.0 1.2 1.6 1.6 1.6 1.7 1.6 1.6 1.6 Special drawing rights 0.0 0.0 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.5 All other currencies 35.2 31.1 20.6 20.5 20.1 20.2 20.0 19.9 15.7 15.3 495 SUDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.8 5.7 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 17.2 17.9 49.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 8.7 4.6 10.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 54.6 30.2 83.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors Interest (%) 1.5 3.7 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 17.7 22.7 49.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 9.1 5.9 10.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 57.1 40.8 83.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 5.6 12.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 9.3 2.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 3.5 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 17.3 -3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 97 904 35 0 0 0 0 0 0 0 Official creditors 91 686 35 0 0 0 0 0 0 0 Private creditors 6 218 0 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 0 0 0 0 0 0 0 0 0 0 Principal 105 96 92 89 82 81 80 468 83 72 Interest 48 45 42 39 37 34 32 30 16 14 Official creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 105 96 92 89 82 81 80 468 83 72 Interest 48 45 42 39 37 34 32 30 16 14 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 42 41 39 35 31 28 27 413 24 21 Interest 32 30 28 27 25 24 22 21 7 6 Multilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 63 55 53 53 51 53 53 55 59 51 Interest 16 15 14 13 12 11 10 9 9 8 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 496 SWAZILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 37.0 205.7 242.8 207.9 385.1 274.7 301.3 294.9 302.7 341.8 Long-term debt (LDOD) 37.0 185.0 238.2 205.8 227.0 246.5 248.5 231.4 230.5 273.7 Public and publicly guaranteed 37.0 185.0 238.2 205.8 227.0 246.5 248.5 231.4 230.5 273.7 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit 0.0 5.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 15.0 4.6 2.1 158.1 28.2 52.8 63.4 72.2 68.1 of which interest arrears on LDOD 0.0 0.0 0.1 0.2 0.1 0.1 0.0 0.0 0.0 6.1 Official creditors 0.0 0.0 0.1 0.2 0.1 0.1 0.0 0.0 0.0 3.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.1 Memo: principal arrears on LDOD 0.0 0.0 0.2 1.2 1.1 1.2 0.3 0.2 0.2 4.0 Official creditors 0.0 0.0 0.2 1.2 1.1 1.2 0.3 0.2 0.2 4.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits 0.0 0.0 28.0 19.0 22.0 6.5 3.4 1.6 0.5 0.1 TOTAL DEBT FLOWS Disbursements 4.6 29.1 14.1 28.3 54.8 30.6 32.9 15.8 35.7 12.9 Long-term debt 3.5 26.5 14.1 28.3 54.8 30.6 32.9 15.8 35.7 12.9 IMF purchases 1.2 2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 2.5 7.5 36.0 20.5 15.7 13.4 16.5 14.7 14.1 10.8 Long-term debt 1.5 7.5 35.7 20.5 15.7 13.4 16.5 14.7 14.1 10.8 IMF repurchases 1.0 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt 2.1 28.6 -38.7 -1.0 195.1 -112.7 41.1 11.8 30.4 -8.1 of which short-term debt 0.0 7.0 -16.7 -8.8 156.1 -129.9 24.7 10.6 8.8 -10.2 Interest payments (INT) 1.9 10.6 10.4 11.8 14.7 16.0 20.1 20.6 13.7 9.4 Long-term debt 1.9 9.0 9.9 11.5 6.9 14.4 18.5 16.7 11.2 8.2 IMF charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 1.6 0.4 0.3 7.8 1.6 1.6 3.9 2.4 1.3 Net transfers on debt 0.2 18.0 -49.0 -12.8 180.4 -128.7 21.0 -8.9 16.7 -17.5 Total debt service paid (TDS) 4.4 18.1 46.4 32.3 30.4 29.4 36.5 35.3 27.8 20.2 Long-term debt 3.4 16.5 45.6 32.0 22.6 27.8 35.0 31.4 25.4 18.9 IMF repurchases and charges 1.0 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) 0.0 1.6 0.4 0.3 7.8 1.6 1.6 3.9 2.4 1.3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5.4 57.2 26.3 48.7 41.2 188.8 131.2 102.6 82.3 54.8 Net 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 2.2 Foreign direct investment (net) 0.0 26.5 30.1 21.7 -15.3 152.7 100.4 90.2 49.8 45.0 Portfolio equity flows 0.0 0.0 -2.2 0.4 -0.1 3.4 2.7 1.4 0.0 0.0 Grants (excluding technical coop.) 3.5 11.8 20.1 18.9 17.6 15.5 11.6 9.9 11.0 7.6 Memo: 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 -8.4 Interest on long-term debt 1.9 9.0 9.9 11.5 6.9 14.4 18.5 16.7 11.2 8.2 Profit remittances on FDI 0.0 27.2 85.4 50.4 23.7 96.6 54.0 27.3 70.5 55.0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES 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 1,229.4 Exports 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 1,213.2 Worker remit. & comp. of employees 0.0 35.0 0.0 0.0 0.0 0.0 0.0 0.0 53.0 53.0 Imports 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 1,269.9 International reserves (RES) .. 158.7 216.5 254.0 294.8 358.6 375.9 351.8 271.8 275.8 Current account balance .. -129.7 50.7 -52.0 -2.7 -93.3 -35.1 -65.2 -53.0 -46.3 4. DEBT INDICATORS EDT / XGS (%) .. 45.6 29.6 18.0 31.2 22.4 25.7 23.2 22.9 28.2 EDT / GNI (%) 37.5 37.3 25.8 14.5 24.5 20.3 21.3 20.6 23.0 27.8 TDS / XGS (%) .. 4.0 5.7 2.8 2.5 2.4 3.1 2.8 2.1 1.7 INT / XGS (%) .. 2.3 1.3 1.0 1.2 1.3 1.7 1.6 1.0 0.8 INT / GNI (%) 1.9 1.9 1.1 0.8 0.9 1.2 1.4 1.4 1.0 0.8 RES / EDT (%) .. 77.2 89.2 122.2 76.6 130.5 124.8 119.3 89.8 80.7 RES / MGS (months) .. 2.9 3.0 2.2 2.6 3.0 3.4 2.9 2.3 2.6 Short-term / EDT (%) 0.0 7.3 1.9 1.0 41.1 10.3 17.5 21.5 23.9 19.9 Concessional / EDT (%) 33.0 39.9 61.2 67.3 32.7 46.4 41.3 38.2 37.2 37.3 Multilateral / EDT (%) 24.1 30.1 47.9 58.8 32.8 50.7 45.2 47.0 48.4 49.8 497 SWAZILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 37.0 185.0 238.2 205.8 227.0 246.5 248.5 231.4 230.5 273.7 Public and publicly guaranteed 37.0 185.0 238.2 205.8 227.0 246.5 248.5 231.4 230.5 273.7 Official creditors 20.9 160.8 231.4 205.8 196.1 220.9 224.1 211.6 208.3 242.6 Multilateral 8.9 61.8 116.2 122.3 126.1 139.3 136.3 138.7 146.5 170.1 Concessional 2.8 16.7 42.7 57.5 56.6 59.9 62.0 59.7 62.4 71.4 Bilateral 12.0 99.0 115.2 83.5 70.0 81.6 87.8 72.9 61.9 72.5 Concessional 9.4 65.3 105.9 82.5 69.3 67.5 62.4 52.8 50.1 56.0 Private creditors 16.1 24.2 6.8 0.0 30.8 25.6 24.4 19.8 22.1 31.1 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks 14.9 23.8 0.0 0.0 30.8 25.6 24.4 19.8 22.1 31.1 Other private 1.3 0.4 6.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 6.1 17.7 36.9 14.5 9.9 9.9 9.1 9.0 9.0 9.1 IDA 2.8 7.5 6.8 5.7 5.4 5.2 4.9 4.7 4.4 4.2 DISBURSEMENTS 3.5 26.5 14.1 28.3 54.8 30.6 32.9 15.8 35.7 12.9 Public and publicly guaranteed 3.5 26.5 14.1 28.3 54.8 30.6 32.9 15.8 35.7 12.9 Official creditors 3.5 26.5 14.1 28.3 22.2 30.6 32.9 15.8 21.7 12.9 Multilateral 0.4 15.4 8.2 25.6 21.3 15.5 14.7 15.8 18.4 9.7 Concessional 0.0 0.3 2.6 2.5 2.9 3.2 5.0 2.3 6.4 6.4 Bilateral 3.1 11.0 5.9 2.7 0.9 15.1 18.2 0.0 3.3 3.2 Concessional 3.1 6.2 5.9 2.7 0.9 0.4 5.7 0.0 3.3 3.2 Private creditors 0.0 0.0 0.0 0.0 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 0.0 0.0 0.0 0.0 32.6 0.0 0.0 0.0 14.0 0.0 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.4 2.1 1.0 2.7 1.3 2.7 1.0 0.7 1.0 1.0 IDA 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS 1.5 7.5 35.7 20.5 15.7 13.4 16.5 14.7 14.1 10.8 Public and publicly guaranteed 1.5 7.5 35.7 20.5 15.7 13.4 16.5 14.7 14.1 10.8 Official creditors 0.5 4.9 33.7 20.3 15.7 13.4 16.5 14.7 14.1 10.8 Multilateral 0.2 1.2 26.8 11.9 9.4 7.7 12.5 8.1 8.9 7.5 Concessional 0.0 0.1 1.1 2.1 1.5 1.6 2.0 2.4 1.9 1.6 Bilateral 0.3 3.7 6.9 8.4 6.3 5.7 3.9 6.6 5.2 3.2 Concessional 0.2 1.2 4.2 8.0 6.0 5.4 3.6 5.9 4.1 3.2 Private creditors 1.0 2.6 1.9 0.3 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 0.9 2.5 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.1 0.1 1.7 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.2 0.7 20.4 5.9 4.8 2.7 1.7 0.9 1.0 0.9 IDA 0.0 0.0 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 NET FLOWS ON DEBT 2.0 19.0 -21.6 7.7 39.0 17.2 16.5 1.1 21.6 2.2 Public and publicly guaranteed 2.0 19.0 -21.6 7.7 39.0 17.2 16.5 1.1 21.6 2.2 Official 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 0.0 Private 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 0.0 Private 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 0.0 Memo: 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 -0.3 498 SWAZILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 1.9 9.0 9.9 11.5 6.9 14.4 18.5 16.7 11.2 8.2 Public and publicly guaranteed 1.9 9.0 9.9 11.5 6.9 14.4 18.5 16.7 11.2 8.2 Official creditors 0.8 7.0 9.1 11.4 6.9 7.0 11.9 10.8 8.7 7.2 Multilateral 0.4 3.1 6.5 10.0 5.5 5.8 8.9 5.2 5.4 6.8 Concessional 0.0 0.1 0.5 1.3 0.5 0.7 0.7 0.5 0.5 0.6 Bilateral 0.4 3.9 2.6 1.5 1.4 1.2 3.0 5.7 3.3 0.4 Concessional 0.2 0.6 1.4 1.4 1.3 1.2 1.0 1.5 0.7 0.4 Private creditors 1.1 2.0 0.8 0.0 0.0 7.4 6.6 5.9 2.5 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 1.1 1.9 0.0 0.0 0.0 7.4 6.6 5.9 2.5 1.0 Other private 0.1 0.0 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.4 1.8 3.6 1.6 1.1 0.7 0.7 0.8 0.7 0.7 IDA 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET TRANSFERS ON DEBT 0.1 10.0 -31.5 -3.7 32.2 2.8 -2.1 -15.6 10.3 -6.0 Public and publicly guaranteed 0.1 10.0 -31.5 -3.7 32.2 2.8 -2.1 -15.6 10.3 -6.0 Official 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 -0.4 Private 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 0.0 Private 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 0.0 Memo: 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 DEBT SERVICE (LTDS) 3.4 16.5 45.6 32.0 22.6 27.8 35.0 31.4 25.4 18.9 Public and publicly guaranteed 3.4 16.5 45.6 32.0 22.6 27.8 35.0 31.4 25.4 18.9 Official creditors 1.3 11.9 42.8 31.7 22.6 20.4 28.3 25.5 22.9 18.0 Multilateral 0.6 4.3 33.3 21.8 14.9 13.5 21.4 13.3 14.4 14.3 Concessional 0.0 0.2 1.6 3.4 2.0 2.3 2.7 2.9 2.4 2.3 Bilateral 0.7 7.6 9.5 9.9 7.7 6.9 7.0 12.3 8.5 3.6 Concessional 0.4 1.8 5.6 9.4 7.3 6.6 4.6 7.4 4.8 3.6 Private creditors 2.1 4.6 2.7 0.3 0.0 7.4 6.6 5.9 2.5 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 0.0 7.4 6.6 5.9 2.5 1.0 Other private 0.1 0.2 2.5 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD 0.5 2.5 24.1 7.5 5.8 3.4 2.4 1.6 1.8 1.6 IDA 0.0 0.1 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 UNDISBURSED DEBT 0.0 60.2 63.2 133.9 105.3 110.0 82.1 64.8 91.0 71.1 Official creditors 0.0 60.2 63.2 133.9 105.3 110.0 82.1 64.8 91.0 71.1 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD 12.2 82.0 148.6 140.0 125.9 127.3 124.4 112.5 112.5 127.4 Variable rate LDOD 0.0 23.8 8.1 6.7 6.8 8.8 9.1 9.0 9.0 21.7 Public sector LDOD 37.0 185.0 238.2 205.8 227.0 246.5 248.5 231.4 230.5 273.7 Private sector LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 14.4 14.1 Deutsche mark 0.0 12.9 17.5 20.8 15.9 15.1 12.9 11.6 .. .. French franc 0.0 0.0 0.6 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 38.2 20.9 10.9 4.8 3.3 2.2 1.5 1.1 0.9 0.5 Swiss franc 0.0 12.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 7.6 10.0 11.9 8.9 7.5 10.1 11.6 11.8 13.9 13.5 Multiple currency 16.5 17.3 35.3 45.8 44.7 42.6 41.3 40.9 38.7 34.5 Special drawing rights 0.0 0.0 2.3 1.7 1.2 1.1 1.4 1.0 1.3 1.1 All other currencies 37.7 26.0 21.5 18.0 27.3 28.8 31.4 33.6 30.7 36.3 499 SWAZILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 0.0 Official 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 0.0 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 12.9 28.5 22.1 9.1 5.8 3.3 1.6 0.7 0.0 0.0 Principal 10.8 18.9 18.1 18.5 19.5 20.6 19.5 18.7 18.1 20.1 Interest 8.2 15.0 15.1 15.0 14.5 13.5 12.5 11.4 10.3 9.2 Official creditors Disbursements 12.9 28.5 22.1 9.1 5.8 3.3 1.6 0.7 0.0 0.0 Principal 10.8 18.9 18.1 18.5 18.5 19.1 18.0 17.2 16.7 18.7 Interest 7.2 10.6 10.7 10.6 10.1 9.3 8.5 7.7 6.8 5.9 Bilateral creditors Disbursements 3.2 9.0 12.6 8.4 5.5 3.2 1.6 0.7 0.0 0.0 Principal 3.2 7.0 6.0 6.0 6.0 6.1 5.3 4.6 4.2 6.1 Interest 0.4 3.5 3.8 4.0 4.1 4.0 3.9 3.7 3.5 3.2 Multilateral creditors Disbursements 9.7 19.5 9.5 0.7 0.2 0.1 0.0 0.0 0.0 0.0 Principal 7.5 12.0 12.1 12.5 12.5 13.0 12.7 12.6 12.4 12.5 Interest 6.8 7.1 7.0 6.6 6.0 5.3 4.6 4.0 3.3 2.7 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 1.0 1.5 1.5 1.5 1.5 1.5 Interest 1.0 4.4 4.4 4.4 4.4 4.2 4.0 3.8 3.5 3.3 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 1.0 1.5 1.5 1.5 1.5 1.5 Interest 1.0 4.4 4.4 4.4 4.4 4.2 4.0 3.8 3.5 3.3 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 500 SYRIAN ARAB REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 276 3,548 17,259 21,484 20,937 22,460 22,369 21,657 21,341 21,504 Long-term debt (LDOD) 231 2,917 15,108 16,762 16,326 16,353 16,142 15,930 15,809 15,849 Public and publicly guaranteed 231 2,917 15,108 16,762 16,326 16,353 16,142 15,930 15,809 15,849 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 10 0 0 0 0 0 0 0 0 0 Short-term debt 35 631 2,151 4,722 4,611 6,107 6,227 5,727 5,532 5,655 of 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 53 137 138 144 142 140 139 145 Memo: 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 1,071 Memo: 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 0 Long-term debt 60 1,147 186 168 104 64 34 18 0 0 IMF purchases 3 0 0 0 0 0 0 0 0 0 Principal repayments 30 225 1,066 65 353 94 127 121 102 110 Long-term debt 30 225 1,066 65 353 94 127 121 102 110 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 33 1,239 -672 74 -514 1,286 -120 -708 -421 -109 of which short-term debt 0 317 208 -29 -265 1,317 -27 -605 -320 0 Interest payments (INT) 6 157 123 177 202 243 243 222 164 149 Long-term debt 6 77 41 47 63 78 79 102 64 49 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 80 82 130 138 165 164 120 100 100 Net transfers on debt 27 1,082 -795 -103 -716 1,044 -363 -930 -585 -258 Total debt service paid (TDS) 36 382 1,189 243 554 337 370 343 265 258 Long-term debt 36 302 1,107 113 416 172 206 223 165 158 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 80 82 130 138 165 164 120 100 100 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 41 2,573 -188 228 -97 147 226 226 169 187 Net flow of long-term debt (ex. IMF) 30 922 -880 103 -249 -31 -93 -103 -101 -109 Foreign direct investment (net) 0 0 72 89 80 82 263 270 205 225 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 11 1,651 621 36 72 96 57 59 66 71 Memo: 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 69 147 124 105 138 Interest on long-term debt 6 77 41 47 63 78 79 102 64 49 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,219 13,565 11,955 13,768 14,246 14,612 15,298 17,231 18,654 19,929 Exports of goods, serv. & inc. (XGS) .. 3,341 5,460 6,504 6,060 5,177 5,813 7,191 7,867 8,478 Worker remit. & comp. of employees 0 774 385 313 238 220 198 180 200 200 Imports of goods & services (MGS) .. 4,610 3,786 7,088 6,098 5,650 6,101 6,614 7,138 7,516 International reserves (RES) 57 828 .. .. .. .. .. .. .. .. Current account balance .. 251 1,762 40 461 58 201 1,062 .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 106.2 316.1 330.3 345.5 433.8 384.8 301.2 271.3 253.6 EDT / GNI (%) 12.4 26.2 144.4 156.0 147.0 153.7 146.2 125.7 114.4 107.9 TDS / XGS (%) .. 11.4 21.8 3.7 9.1 6.5 6.4 4.8 3.4 3.0 INT / XGS (%) .. 4.7 2.3 2.7 3.3 4.7 4.2 3.1 2.1 1.8 INT / GNI (%) 0.3 1.2 1.0 1.3 1.4 1.7 1.6 1.3 0.9 0.7 RES / 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 26.3 Concessional / EDT (%) 14.3 51.8 76.1 70.3 71.7 67.2 66.9 68.4 68.9 68.5 Multilateral / EDT (%) 1.5 8.8 5.2 5.0 3.7 3.3 2.9 2.7 2.6 2.4 501 SYRIAN ARAB REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 231 2,917 15,108 16,762 16,326 16,353 16,142 15,930 15,809 15,849 Public and publicly guaranteed 231 2,917 15,108 16,762 16,326 16,353 16,142 15,930 15,809 15,849 Official 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 14,246 Private 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 1,082 Private 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 0 Memo: 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 0 Public and publicly guaranteed 60 1,147 186 168 104 64 34 18 0 0 Official 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 0 Private 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 0 Private 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 0 Memo: 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 94 127 121 102 110 Public and publicly guaranteed 30 225 1,066 65 353 94 127 121 102 110 Official 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 51 Private 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 1 Private 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 0 Memo: 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 -109 Public and publicly guaranteed 30 922 -880 103 -249 -31 -93 -103 -101 -109 Official 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 -51 Private 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 -1 Private 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 0 Memo: IBRD 0 57 -1 0 -262 -22 -21 -14 -8 -6 IDA 3 2 -2 0 -10 -1 -1 -1 -1 -1 502 SYRIAN ARAB REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 6 77 41 47 63 78 79 102 64 49 Public and publicly guaranteed 6 77 41 47 63 78 79 102 64 49 Official creditors 2 46 32 46 62 77 79 102 64 48 Multilateral 0 20 14 28 40 56 57 82 45 31 Concessional 0 1 5 23 27 24 25 23 21 21 Bilateral 2 26 18 17 22 21 21 20 18 17 Concessional 1 18 18 17 22 21 21 20 18 17 Private creditors 4 31 9 1 1 1 1 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 4 31 9 1 1 1 1 0 0 0 Private 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 0 Memo: IBRD 0 18 1 0 9 28 30 57 23 9 IDA 0 0 1 0 3 0 0 0 0 0 NET TRANSFERS ON DEBT 24 845 -922 56 -312 -109 -173 -205 -165 -158 Public and publicly guaranteed 24 845 -922 56 -312 -109 -173 -205 -165 -158 Official 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 -68 Private 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 -2 Private 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 0 Memo: 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 1,107 113 416 172 206 223 165 158 Public and publicly guaranteed 36 302 1,107 113 416 172 206 223 165 158 Official 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 68 Private 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 2 Private 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 0 Memo: 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 0 Official creditors 11 1,392 716 693 531 512 49 29 0 0 Private creditors 99 583 206 51 46 33 6 4 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.2 2.6 Deutsche mark 1.7 1.5 2.1 2.2 2.0 2.1 1.8 1.7 .. .. French franc 7.0 3.6 0.8 0.7 0.6 0.7 0.6 0.6 .. .. Japanese yen 0.0 0.3 1.8 3.1 2.8 3.1 3.5 3.1 2.7 2.9 Pound sterling 4.0 0.2 0.6 0.8 0.8 0.7 0.7 0.6 0.6 0.7 Swiss franc 4.1 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 31.4 70.1 86.2 82.4 84.5 84.3 85.0 86.1 86.7 86.5 Multiple currency 0.0 8.0 3.3 2.4 0.6 0.5 0.4 0.3 0.2 0.2 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 51.7 15.6 5.3 8.4 8.7 8.6 8.1 7.7 7.6 7.2 503 SYRIAN ARAB REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 0.0 Official 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 0.0 Private 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 0.0 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 898 891 872 862 119 111 105 104 98 88 Interest 113 91 70 50 31 26 22 18 14 10 Official creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 894 887 869 861 119 111 105 104 98 88 Interest 112 91 70 50 31 26 22 18 14 10 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 838 836 828 824 84 76 70 69 65 55 Interest 92 73 55 37 19 16 13 11 8 6 Multilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 56 51 41 37 35 35 35 35 33 33 Interest 21 18 15 13 12 10 9 7 6 4 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4 4 3 1 0 0 0 0 0 0 Interest 0 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 4 4 3 1 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 504 TAJIKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 699 1,065 1,243 1,275 1,034 1,058 1,153 Long-term debt (LDOD) .. .. .. 657 961 997 1,072 846 869 999 Public and publicly guaranteed .. .. .. 657 669 703 741 755 762 912 Private nonguaranteed .. .. .. 0 292 294 331 91 107 87 Use of IMF credit .. .. .. 22 30 99 100 111 110 94 Short-term debt .. .. .. 21 74 147 102 77 79 60 of 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 7 Memo: 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 47 Memo: export credits .. .. .. 0 0 0 11 3 27 25 TOTAL DEBT FLOWS Disbursements .. .. .. 58 52 131 132 62 115 34 Long-term debt .. .. .. 36 42 66 122 37 100 24 IMF purchases .. .. .. 22 10 65 9 25 15 10 Principal repayments .. .. .. 0 29 61 53 37 58 67 Long-term debt .. .. .. 0 29 61 48 28 46 33 IMF repurchases .. .. .. 0 0 0 5 10 12 34 Net flows on debt .. .. .. 58 52 145 27 -4 77 -34 of which short-term debt .. .. .. 0 29 75 -51 -29 20 -1 Interest payments (INT) .. .. .. 1 19 31 26 25 23 12 Long-term debt .. .. .. 0 17 28 20 21 20 11 IMF charges .. .. .. 0 1 2 2 2 1 1 Short-term debt .. .. .. 0 1 1 4 2 2 1 Net transfers on debt .. .. .. 57 34 114 1 -30 54 -46 Total debt service paid (TDS) .. .. .. 1 48 92 79 63 81 79 Long-term debt .. .. .. 0 45 89 68 49 66 43 IMF repurchases and charges .. .. .. 0 1 2 7 12 13 35 Short-term debt (interest only) .. .. .. 0 1 1 4 2 2 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 113 86 87 150 81 153 103 Net flow of long-term debt (ex. IMF) .. .. .. 36 13 5 74 9 54 -9 Foreign direct investment (net) .. .. .. 18 18 25 21 22 10 9 Portfolio equity flows .. .. .. 0 0 0 0 0 0 2 Grants (excluding technical coop.) .. .. .. 59 55 58 55 50 89 102 Memo: 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 77 Interest on long-term debt .. .. .. 0 17 28 20 21 20 11 Profit remittances on FDI .. .. .. 1 2 3 9 11 15 16 Memo: official net transfers .. .. .. 95 64 55 94 66 121 108 private net transfers .. .. .. 17 4 2 27 -17 -3 -31 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 985 1,081 1,263 1,032 934 979 1,154 Exports of goods, serv. & inc. (XGS) .. .. .. 775 773 636 698 804 703 773 Worker remit. & comp. of employees .. .. .. 0 0 0 0 0 0 79 Imports of goods & services (MGS) .. .. .. 880 874 813 769 901 860 926 International reserves (RES) .. .. .. .. 39 56 57 94 94 90 Current account balance .. .. .. -75 -61 -120 -36 -62 -74 -34 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 90.2 137.8 195.4 182.6 128.6 150.5 149.1 EDT / GNI (%) .. .. .. 71.0 98.6 98.4 123.6 110.7 108.1 99.9 TDS / XGS (%) .. .. .. 0.1 6.2 14.4 11.3 7.8 11.5 10.2 INT / XGS (%) .. .. .. 0.1 2.4 4.8 3.7 3.2 3.2 1.6 INT / GNI (%) .. .. .. 0.1 1.7 2.4 2.5 2.7 2.3 1.1 RES / EDT (%) .. .. .. .. 3.6 4.5 4.5 9.1 8.9 7.8 RES / MGS (months) .. .. .. .. 0.5 0.8 0.9 1.3 1.3 1.2 Short-term / EDT (%) .. .. .. 3.0 6.9 11.8 8.0 7.5 7.5 5.2 Concessional / EDT (%) .. .. .. 79.6 52.4 49.8 52.0 65.3 69.4 32.5 Multilateral / EDT (%) .. .. .. 4.3 4.7 8.4 12.3 18.0 25.0 37.8 505 TAJIKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 657 961 997 1,072 846 869 999 Public and publicly guaranteed .. .. .. 657 669 703 741 755 762 912 Official 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 59 Private 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 70 Private 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 87 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 30 50 92 126 143 172 195 DISBURSEMENTS .. .. .. 36 42 66 122 37 100 24 Public and publicly guaranteed .. .. .. 36 42 52 55 36 52 24 Official creditors .. .. .. 36 42 52 55 36 52 24 Multilateral .. .. .. 30 22 50 55 36 41 24 Concessional .. .. .. 30 22 50 55 35 39 24 Bilateral .. .. .. 6 20 2 0 0 11 0 Concessional .. .. .. 0 9 2 0 0 1 0 Private 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 0 Private nonguaranteed .. .. .. 0 0 14 67 1 48 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 14 67 1 48 0 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 30 22 38 36 23 35 10 PRINCIPAL REPAYMENTS .. .. .. 0 29 61 48 28 46 33 Public and publicly guaranteed .. .. .. 0 29 48 18 15 15 12 Official creditors .. .. .. 0 29 40 14 15 15 12 Multilateral .. .. .. 0 0 0 0 0 8 8 Concessional .. .. .. 0 0 0 0 0 7 8 Bilateral .. .. .. 0 29 40 14 15 8 5 Concessional .. .. .. 0 29 40 14 15 8 5 Private 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 0 Private nonguaranteed .. .. .. 0 0 13 30 12 31 20 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 13 30 12 31 20 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 36 13 5 74 9 54 -9 Public and publicly guaranteed .. .. .. 36 13 4 37 20 37 11 Official 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 -5 Private 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 0 Private 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 -20 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 30 22 38 36 23 35 10 506 TAJIKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 0 17 28 20 21 20 11 Public and publicly guaranteed .. .. .. 0 5 15 3 7 17 5 Official creditors .. .. .. 0 5 15 2 4 6 5 Multilateral .. .. .. 0 0 0 1 1 3 3 Concessional .. .. .. 0 0 0 1 1 3 3 Bilateral .. .. .. 0 5 14 2 3 2 2 Concessional .. .. .. 0 5 14 2 3 1 2 Private creditors .. .. .. 0 0 0 1 4 11 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 1 4 11 0 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 12 13 17 14 3 5 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 12 13 17 14 3 5 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 1 1 1 1 NET TRANSFERS ON DEBT .. .. .. 36 -3 -23 54 -12 34 -20 Public and publicly guaranteed .. .. .. 36 9 -11 34 13 20 6 Official 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 -7 Private 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 0 Private 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 -26 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 30 22 37 35 22 34 8 DEBT SERVICE (LTDS) .. .. .. 0 45 89 68 49 66 43 Public and publicly guaranteed .. .. .. 0 33 63 21 23 32 18 Official creditors .. .. .. 0 33 55 16 19 21 18 Multilateral .. .. .. 0 0 0 1 1 11 11 Concessional .. .. .. 0 0 0 1 1 10 11 Bilateral .. .. .. 0 33 55 15 18 10 7 Concessional .. .. .. 0 33 54 15 18 9 7 Private 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 0 Private nonguaranteed .. .. .. 0 12 26 47 26 34 26 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 12 26 47 26 34 26 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 1 1 1 1 UNDISBURSED DEBT .. .. .. 56 36 88 129 141 259 339 Official creditors .. .. .. 53 33 65 106 118 236 313 Private creditors .. .. .. 3 3 23 23 23 23 26 Memorandum items Concessional LDOD .. .. .. 557 558 619 663 675 734 374 Variable rate LDOD .. .. .. 86 385 359 392 147 164 163 Public sector LDOD .. .. .. 657 669 703 741 755 762 905 Private sector LDOD .. .. .. 0 292 294 331 91 107 94 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 6.0 6.0 Deutsche mark .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 100.0 100.0 99.0 97.8 97.9 91.8 91.5 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 0.0 0.0 1.0 2.2 2.1 2.2 2.5 507 TAJIKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 506 19 197 7 0 67 443 Debt stock rescheduled .. .. .. 260 18 151 0 0 62 437 Principal rescheduled .. .. .. 216 0 20 0 0 56 0 Official .. .. .. 216 0 20 0 0 13 0 Private .. .. .. 0 0 0 0 0 43 0 Interest rescheduled .. .. .. 23 0 6 0 0 11 12 Official .. .. .. 23 0 6 0 0 0 12 Private .. .. .. 0 0 0 0 0 11 0 Debt forgiven .. .. .. 0 0 0 0 2 18 23 Memo: interest forgiven .. .. .. 0 0 0 0 0 2 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 0.8 0.5 1.7 1.0 3.8 1.5 0.9 Maturity (years) .. .. .. 39.8 38.0 29.2 35.2 26.4 30.6 36.1 Grace period (years) .. .. .. 10.3 9.9 7.8 9.2 6.7 8.0 9.7 Grant element (%) .. .. .. 80.7 81.5 64.2 75.2 48.0 67.4 76.9 Official creditors Interest (%) .. .. .. 0.8 0.5 0.6 1.0 3.8 1.5 0.9 Maturity (years) .. .. .. 39.8 38.0 35.8 35.2 26.4 30.6 36.1 Grace period (years) .. .. .. 10.3 9.9 9.4 9.2 6.7 8.0 9.7 Grant element (%) .. .. .. 80.7 81.5 78.4 75.2 48.0 67.4 76.9 Private creditors Interest (%) .. .. .. 0.0 0.0 6.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. 0.0 0.0 2.2 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. 0.0 0.0 1.3 0.0 0.0 0.0 0.0 Grant element (%) .. .. .. 0.0 0.0 5.8 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 55 25 102 98 53 175 56 Official creditors .. .. .. 55 25 82 98 53 175 56 Private creditors .. .. .. 0 0 20 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 52 54 39 27 18 13 7 3 2 0 Principal 44 35 31 34 16 20 24 25 23 37 Interest 23 22 22 21 20 20 19 19 19 18 Official creditors Disbursements 52 54 39 27 18 13 7 3 2 0 Principal 9 11 10 13 16 19 23 24 22 37 Interest 19 19 19 20 19 19 19 19 19 18 Bilateral creditors Disbursements 15 10 6 3 2 1 0 0 0 0 Principal 6 8 8 8 8 8 8 8 6 6 Interest 14 14 14 14 13 13 13 13 13 13 Multilateral creditors Disbursements 37 44 33 24 17 12 7 3 2 0 Principal 3 3 2 5 7 11 15 16 17 31 Interest 5 5 6 6 6 6 6 6 6 5 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 36 25 21 20 1 1 1 1 1 1 Interest 5 3 2 1 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 36 25 21 20 1 1 1 1 1 1 Interest 5 3 2 1 0 0 0 0 0 0 508 TANZANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 212 5,324 6,458 7,386 7,199 7,669 8,066 7,394 6,679 7,244 Long-term debt (LDOD) 188 3,382 5,799 6,148 6,105 6,484 6,733 6,279 5,779 6,201 Public and publicly guaranteed 173 3,298 5,787 6,103 6,064 6,448 6,701 6,251 5,756 6,182 Private nonguaranteed 15 84 12 45 41 37 32 28 24 20 Use of IMF credit 0 171 140 206 246 268 312 324 341 400 Short-term debt 24 1,771 520 1,032 848 917 1,020 791 558 643 of 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 39 Memo: 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 56 Memo: export credits 0 0 1,278 907 1,034 773 557 544 472 243 TOTAL DEBT FLOWS Disbursements 56 433 325 246 336 264 341 261 226 241 Long-term debt 56 366 296 209 251 216 260 208 175 189 IMF purchases 0 66 29 37 85 48 80 53 51 52 Principal repayments 4 81 118 166 121 136 136 132 106 77 Long-term debt 4 49 89 145 90 98 107 122 104 73 IMF repurchases 0 33 28 22 31 38 29 10 2 5 Net flows on debt 52 404 223 148 226 138 214 173 39 205 of which short-term debt 0 53 16 68 12 9 10 44 -82 41 Interest payments (INT) 3 80 62 103 48 112 82 66 48 68 Long-term debt 3 48 47 96 40 103 73 54 39 61 IMF charges 0 7 6 1 1 1 1 2 2 2 Short-term debt 0 26 9 6 6 7 8 10 6 6 Net transfers on debt 49 324 162 45 179 26 132 108 -9 137 Total debt service paid (TDS) 7 161 179 269 169 248 218 198 154 145 Long-term debt 7 96 136 240 131 201 180 176 143 133 IMF repurchases and charges 0 39 34 23 32 39 31 12 4 7 Short-term debt (interest only) 0 26 9 6 6 7 8 10 6 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 62 808 884 645 750 939 1,244 1,280 1,326 1,161 Net flow of long-term debt (ex. IMF) 52 318 207 64 161 118 153 86 72 117 Foreign direct investment (net) 3 5 0 150 158 172 517 463 327 240 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 6 485 677 431 431 650 574 730 927 804 Memo: 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 1,086 Interest on long-term debt 3 48 47 96 40 103 73 54 39 61 Profit remittances on FDI 0 0 0 2 3 8 9 13 15 15 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 4,072 6,378 7,583 8,257 8,555 8,974 9,255 9,336 Exports of goods, serv. & inc. (XGS) .. 762 544 1,422 1,254 1,179 1,187 1,341 1,511 1,643 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 8 8 Imports of goods & services (MGS) .. 1,412 1,665 2,272 2,130 2,490 2,359 2,230 2,390 2,315 International reserves (RES) 65 20 193 440 622 599 775 974 1,157 1,529 Current account balance .. -521 -559 -413 -473 -751 -835 -499 -480 -251 4. DEBT INDICATORS EDT / XGS (%) .. 698.9 1,186.6 519.2 573.9 650.2 679.7 551.4 442.0 440.9 EDT / GNI (%) .. .. 158.6 115.8 94.9 92.9 94.3 82.4 72.2 77.6 TDS / XGS (%) .. 21.2 32.9 18.9 13.5 21.0 18.4 14.7 10.2 8.9 INT / XGS (%) .. 10.5 11.3 7.2 3.8 9.5 6.9 4.9 3.1 4.1 INT / GNI (%) .. .. 1.5 1.6 0.6 1.4 1.0 0.7 0.5 0.7 RES / EDT (%) 30.6 0.4 3.0 6.0 8.6 7.8 9.6 13.2 17.3 21.1 RES / MGS (months) .. 0.2 1.4 2.3 3.5 2.9 3.9 5.2 5.8 7.9 Short-term / EDT (%) 11.3 33.3 8.0 14.0 11.8 12.0 12.6 10.7 8.4 8.9 Concessional / EDT (%) 76.9 50.6 53.5 60.7 71.0 72.0 72.6 74.9 78.7 78.9 Multilateral / EDT (%) 18.1 10.6 30.6 39.0 40.6 40.9 40.6 44.1 48.3 49.3 509 TANZANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 188 3,382 5,799 6,148 6,105 6,484 6,733 6,279 5,779 6,201 Public and publicly guaranteed 173 3,298 5,787 6,103 6,064 6,448 6,701 6,251 5,756 6,182 Official 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 2,179 Private 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 59 Private 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 20 Memo: 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 DISBURSEMENTS 56 366 296 209 251 216 260 208 175 189 Public and publicly guaranteed 49 335 296 207 251 216 260 208 175 189 Official creditors 43 244 279 203 251 216 253 203 174 189 Multilateral 11 122 200 194 244 187 251 185 147 189 Concessional 9 63 187 192 238 184 249 185 145 188 Bilateral 33 123 80 9 8 28 3 18 27 0 Concessional 32 95 50 7 6 10 3 18 27 0 Private creditors 6 91 17 4 0 0 7 5 1 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 4 1 0 0 5 5 0 0 Other private 6 82 12 3 0 0 2 0 1 0 Private nonguaranteed 8 31 0 2 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 31 0 2 0 0 0 0 0 0 Memo: IBRD 1 34 0 0 0 0 0 0 0 0 IDA 9 35 186 134 183 102 199 142 119 148 PRINCIPAL REPAYMENTS 4 49 89 145 90 98 107 122 104 73 Public and publicly guaranteed 2 32 89 144 86 94 103 118 99 68 Official creditors 2 26 77 123 68 81 83 101 81 46 Multilateral 0 8 45 73 64 64 52 28 44 26 Concessional 0 1 13 34 31 39 40 18 29 19 Bilateral 2 18 33 49 4 17 31 72 38 21 Concessional 2 18 24 20 4 9 24 37 21 11 Private creditors 0 6 12 22 18 13 20 17 18 22 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 4 2 1 1 0 7 5 Other private 0 6 12 17 16 12 19 17 11 17 Private nonguaranteed 3 16 0 0 4 4 4 4 4 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 16 0 0 4 4 4 4 4 4 Memo: IBRD 0 5 26 27 20 12 6 4 3 2 IDA 0 1 6 14 15 17 24 9 19 5 NET FLOWS ON DEBT 52 318 207 64 161 118 153 86 72 117 Public and publicly guaranteed 47 303 207 63 165 122 157 91 76 121 Official 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 -11 Private 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 -16 Private 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 -4 Memo: IBRD 1 29 -26 -27 -20 -12 -6 -4 -3 -2 IDA 9 34 181 121 167 85 175 133 100 143 510 TANZANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 3 48 47 96 40 103 73 54 39 61 Public and publicly guaranteed 2 41 47 95 39 102 72 53 39 60 Official creditors 2 34 44 90 38 101 61 51 38 58 Multilateral 0 18 27 46 35 36 29 23 24 25 Concessional 0 2 9 33 25 22 25 19 17 24 Bilateral 2 16 17 44 3 65 32 28 13 33 Concessional 2 14 11 22 2 54 26 18 11 26 Private creditors 0 7 3 5 2 1 11 2 1 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 1 0 0 0 0 0 1 Other private 0 6 3 4 1 1 11 2 1 1 Private nonguaranteed 1 7 0 1 1 1 1 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 7 0 1 1 1 1 1 1 1 Memo: IBRD 0 15 17 6 4 2 2 1 1 1 IDA 0 2 8 17 16 17 19 15 16 17 NET TRANSFERS ON DEBT 49 270 160 -31 121 14 80 32 32 56 Public and publicly guaranteed 45 262 160 -32 126 20 85 38 37 61 Official 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 -37 Private 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 -18 Private 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 -5 Memo: IBRD 1 14 -43 -33 -24 -14 -8 -6 -4 -3 IDA 9 33 172 104 151 68 156 119 84 126 DEBT SERVICE (LTDS) 7 96 136 240 131 201 180 176 143 133 Public and publicly guaranteed 4 73 136 239 125 196 175 171 138 128 Official creditors 4 60 121 213 106 181 144 152 119 104 Multilateral 0 26 72 119 99 100 81 52 68 51 Concessional 0 2 21 67 56 60 65 37 46 43 Bilateral 3 34 49 93 7 82 63 100 51 53 Concessional 3 32 34 42 6 63 50 56 33 38 Private creditors 0 13 15 26 19 15 31 19 19 24 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 6 2 1 1 0 7 6 Other private 0 12 15 21 18 14 30 19 12 18 Private nonguaranteed 3 23 0 1 6 5 5 5 5 5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 23 0 1 6 5 5 5 5 5 Memo: IBRD 0 20 43 33 24 14 8 6 4 3 IDA 0 2 14 31 32 33 43 23 35 22 UNDISBURSED DEBT 315 1,163 1,169 1,244 1,157 1,105 916 995 1,246 1,244 Official creditors 311 1,086 1,164 1,235 1,145 1,094 882 950 1,208 1,206 Private creditors 4 77 5 9 12 11 33 45 38 39 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 5.4 5.4 Deutsche mark 3.2 1.3 3.9 2.9 1.9 1.9 1.5 1.4 .. .. French franc 0.0 2.0 3.9 2.7 2.0 1.9 1.6 1.4 .. .. Japanese yen 0.0 49.7 8.5 9.7 10.1 11.7 14.1 11.9 10.8 10.7 Pound sterling 10.9 4.1 11.7 10.3 9.8 9.2 8.8 8.4 8.2 7.7 Swiss franc 0.0 0.3 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 28.3 13.3 35.8 40.6 45.5 45.4 45.5 48.8 49.5 50.3 Multiple currency 2.1 6.5 6.0 6.5 6.6 6.7 6.4 12.3 13.5 13.6 Special drawing rights 0.0 0.1 1.3 5.1 4.9 5.0 4.7 4.9 5.1 5.1 All other currencies 55.5 22.6 28.3 22.0 19.1 18.2 17.3 10.9 7.3 7.1 511 TANZANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 183 33 761 152 68 432 44 61 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 59 11 422 30 2 288 21 20 Official .. .. 35 11 328 30 2 281 21 20 Private .. .. 24 0 94 0 0 7 0 0 Interest rescheduled .. .. 96 9 229 13 2 142 14 11 Official .. .. 91 9 207 13 2 142 14 11 Private .. .. 5 0 21 0 0 0 0 0 Debt forgiven .. .. 102 29 243 71 26 391 224 97 Memo: interest forgiven .. .. 10 1 75 0 0 235 201 42 Debt stock reduction .. .. 0 0 11 0 0 3 63 0 of which debt buyback .. .. 0 0 0 0 0 0 7 0 8. DEBT STOCK-FLOW RECONCILIATION Total 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 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.4 4.1 1.1 1.3 1.0 1.5 1.6 0.9 0.7 0.6 Maturity (years) 41.0 22.9 34.9 35.4 41.5 36.2 34.9 38.2 40.8 38.7 Grace period (years) 22.5 7.5 9.3 9.2 9.8 8.2 9.6 9.8 10.0 9.8 Grant element (%) 81.0 43.0 72.4 72.7 78.2 66.9 69.3 78.2 80.1 79.8 Official creditors Interest (%) 1.4 3.6 1.1 1.2 0.9 1.3 1.1 0.8 0.7 0.6 Maturity (years) 41.0 24.2 35.3 35.8 42.3 37.2 39.5 39.0 40.8 38.8 Grace period (years) 22.5 8.0 9.4 9.3 10.0 8.4 10.2 10.1 10.0 9.8 Grant element (%) 81.0 46.8 72.9 73.7 79.6 68.9 76.8 79.6 80.1 80.0 Private creditors Interest (%) 0.0 7.5 2.5 8.9 5.0 6.5 4.5 2.5 0.0 6.0 Maturity (years) 0.0 11.7 13.3 6.2 3.0 3.9 9.1 23.8 0.0 3.3 Grace period (years) 0.0 3.2 6.8 2.4 1.0 2.2 6.1 4.3 0.0 1.0 Grant element (%) 0.0 10.4 47.7 0.3 8.6 8.2 27.6 51.7 0.0 6.9 Memorandum items Commitments 271 742 697 227 269 141 195 391 495 178 Official creditors 271 663 686 224 264 137 165 371 495 178 Private creditors 0 79 12 3 6 5 29 20 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 337 319 170 140 102 69 50 27 15 10 Principal 166 164 165 169 176 181 180 187 198 211 Interest 117 116 115 113 110 107 103 100 97 94 Official creditors Disbursements 314 308 167 139 102 69 50 27 15 10 Principal 160 159 155 156 162 172 179 186 196 210 Interest 115 114 113 111 108 106 103 100 97 93 Bilateral creditors Disbursements 22 28 18 12 7 4 2 1 0 0 Principal 85 77 73 71 71 74 75 71 66 68 Interest 85 83 80 78 76 74 72 69 67 65 Multilateral creditors Disbursements 291 281 148 127 95 64 47 26 15 9 Principal 75 81 82 85 91 98 103 115 130 142 Interest 30 31 32 32 32 32 31 31 30 29 Private creditors Disbursements 24 10 4 1 0 0 0 0 0 0 Principal 6 5 10 13 13 9 1 1 2 1 Interest 2 2 2 2 1 1 0 0 0 0 Commercial banks Disbursements 12 5 2 0 0 0 0 0 0 0 Principal 1 0 4 8 8 8 0 0 0 0 Interest 1 1 1 1 1 0 0 0 0 0 Other private Disbursements 11 6 2 1 0 0 0 0 0 0 Principal 5 5 6 5 5 1 1 1 2 1 Interest 1 1 1 1 0 0 0 0 0 0 512 THAILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1,001 8,297 28,094 112,838 109,699 104,917 96,770 79,716 67,211 59,211 Long-term debt (LDOD) 726 5,646 19,771 65,122 69,434 72,019 69,920 61,774 52,307 46,902 Public and publicly guaranteed 324 3,943 12,460 16,887 22,292 28,088 31,306 29,458 26,239 22,628 Private nonguaranteed 402 1,703 7,311 48,235 47,142 43,931 38,615 32,316 26,069 24,274 Use of IMF credit 0 348 1 0 2,429 3,238 3,431 3,062 1,681 391 Short-term debt 275 2,303 8,322 47,715 37,836 29,660 23,418 14,880 13,223 11,919 of 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 0 Memo: 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 0 Memo: 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 8,625 Long-term debt 220 2,604 4,569 14,550 12,280 7,456 6,030 4,021 8,672 8,625 IMF purchases 0 45 0 0 2,477 678 273 0 0 0 Principal repayments 131 804 3,264 4,306 6,177 7,811 9,438 9,144 17,011 17,187 Long-term debt 131 782 2,983 4,306 6,177 7,811 9,438 8,946 15,722 15,827 IMF repurchases 0 22 281 0 0 0 0 198 1,289 1,360 Net flows on debt 90 1,808 3,515 13,864 -1,300 -7,852 -9,376 -13,661 -9,996 -9,866 of which short-term debt 0 -37 2,210 3,620 -9,879 -8,176 -6,242 -8,538 -1,657 -1,304 Interest payments (INT) 33 814 2,026 5,218 5,633 4,942 6,772 4,850 3,304 2,551 Long-term debt 33 473 1,355 3,111 3,468 3,755 5,629 3,777 2,618 2,095 IMF charges 0 13 21 0 14 121 129 168 124 37 Short-term debt 0 328 650 2,107 2,150 1,066 1,014 905 562 419 Net transfers on debt 57 994 1,489 8,646 -6,933 -12,794 -16,148 -18,510 -13,299 -12,416 Total debt service paid (TDS) 163 1,617 5,290 9,524 11,810 12,752 16,210 13,994 20,314 19,738 Long-term debt 163 1,254 4,338 7,417 9,645 11,565 15,067 12,723 18,339 17,922 IMF repurchases and charges 0 35 302 0 14 121 129 366 1,413 1,397 Short-term debt (interest only) 0 328 650 2,107 2,150 1,066 1,014 905 562 419 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 139 2,087 4,663 13,841 13,953 7,331 3,706 -620 -3,167 -6,048 Net flow of long-term debt (ex. IMF) 90 1,822 1,586 10,244 6,102 -355 -3,408 -4,925 -7,050 -7,202 Foreign direct investment (net) 43 190 2,444 2,336 3,895 7,315 6,103 3,366 3,820 900 Portfolio equity flows 0 0 440 1,164 3,868 289 945 901 18 207 Grants (excluding technical coop.) 6 75 193 98 88 81 67 38 44 46 Memo: 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 -10,447 Interest on long-term debt 33 473 1,355 3,111 3,468 3,755 5,629 3,777 2,618 2,095 Profit remittances on FDI 0 38 312 2,146 1,628 1,437 1,546 1,515 1,829 2,304 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 7,096 32,091 84,272 177,666 146,958 107,990 119,002 120,635 113,395 124,389 Exports of goods, serv. & inc. (XGS) .. 8,575 31,289 75,385 76,161 69,232 74,502 85,997 80,059 85,470 Worker remit. & comp. of employees 0 376 973 3,613 3,323 2,850 2,923 3,393 2,505 2,760 Imports of goods & services (MGS) .. 10,861 38,783 90,836 79,661 55,404 62,427 77,269 74,439 78,438 International reserves (RES) 911 3,026 14,258 38,645 26,897 29,537 34,781 32,665 33,041 38,903 Current account balance .. -2,076 -7,281 -14,691 -3,021 14,243 12,428 9,313 6,221 7,650 4. DEBT INDICATORS EDT / XGS (%) .. 96.8 89.8 149.7 144.0 151.5 129.9 92.7 84.0 69.3 EDT / GNI (%) 14.1 25.9 33.3 63.5 74.6 97.2 81.3 66.1 59.3 47.6 TDS / XGS (%) .. 18.9 16.9 12.6 15.5 18.4 21.8 16.3 25.4 23.1 INT / XGS (%) .. 9.5 6.5 6.9 7.4 7.1 9.1 5.6 4.1 3.0 INT / GNI (%) 0.5 2.5 2.4 2.9 3.8 4.6 5.7 4.0 2.9 2.1 RES / EDT (%) 91.1 36.5 50.8 34.2 24.5 28.2 35.9 41.0 49.2 65.7 RES / MGS (months) .. 3.3 4.4 5.1 4.1 6.4 6.7 5.1 5.3 6.0 Short-term / EDT (%) 27.5 27.8 29.6 42.3 34.5 28.3 24.2 18.7 19.7 20.1 Concessional / EDT (%) 9.3 10.0 15.2 6.1 6.0 7.2 9.8 11.5 13.0 16.6 Multilateral / EDT (%) 16.4 12.0 13.2 2.6 3.3 4.4 5.6 6.7 8.1 5.8 513 THAILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 726 5,646 19,771 65,122 69,434 72,019 69,920 61,774 52,307 46,902 Public and publicly guaranteed 324 3,943 12,460 16,887 22,292 28,088 31,306 29,458 26,239 22,628 Official 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 9,657 Private 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 1,313 921 831 850 737 958 828 528 Private 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 18,011 Memo: 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 8,625 Public and publicly guaranteed 51 1,315 1,277 2,600 8,080 4,956 4,030 3,021 2,334 1,774 Official 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 1,050 Private 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 22 Private 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 6,803 Memo: 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 15,827 Public and publicly guaranteed 23 172 2,393 1,316 1,151 1,029 2,404 3,011 3,740 6,563 Official 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 13 102 411 282 373 361 623 725 609 Private 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 75 Private 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 8,506 Memo: 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 -7,202 Public and publicly guaranteed 28 1,143 -1,115 1,284 6,929 3,927 1,626 10 -1,406 -4,789 Official 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 6 166 402 584 382 301 943 776 735 442 Private 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 -52 Private 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 -1,703 Memo: IBRD 10 120 -34 -58 251 319 626 275 106 -696 IDA 0 4 -1 -2 -2 -2 -3 -3 -3 -3 514 THAILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 33 473 1,355 3,111 3,468 3,755 5,629 3,777 2,618 2,095 Public and publicly guaranteed 16 269 874 875 853 1,254 1,681 1,578 1,404 1,072 Official 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 19 110 210 197 192 375 252 222 210 Private 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 14 Private 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 1,723 814 698 Memo: 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 -9,297 Public and publicly guaranteed 12 875 -1,989 410 6,076 2,673 -54 -1,568 -2,810 -5,861 Official 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 3 147 292 375 185 109 568 524 514 232 Private 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 -67 Private 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 -2,401 Memo: 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 17,922 Public and publicly guaranteed 39 441 3,267 2,190 2,004 2,283 4,084 4,590 5,145 7,635 Official 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 32 212 620 479 564 736 875 946 818 Private 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 89 Private 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 9,204 Memo: 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 4,122 Official creditors 145 2,650 2,936 5,424 5,672 7,377 8,981 6,998 4,812 3,527 Private creditors 11 364 694 2,040 2,029 2,082 1,142 627 851 595 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.7 1.8 Deutsche mark 17.6 4.7 3.6 2.1 1.4 1.3 1.1 1.0 .. .. French franc 0.0 1.8 1.0 1.1 0.8 0.6 0.4 0.4 .. .. Japanese yen 6.0 25.3 42.7 44.5 38.7 40.0 45.9 46.3 44.5 56.9 Pound sterling 2.4 0.2 0.4 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.1 5.7 0.6 0.1 0.1 0.0 0.0 0.0 0.0 U.S.dollars 21.6 41.0 15.8 32.4 47.0 49.1 44.5 46.2 48.1 38.1 Multiple currency 50.7 24.3 28.2 17.7 10.8 8.0 7.3 5.4 5.3 2.9 Special drawing rights 0.0 0.0 0.2 0.1 0.1 0.1 0.0 0.0 0.0 0.0 All other currencies 1.7 2.6 2.3 1.2 1.1 0.8 0.6 0.6 0.3 0.3 515 THAILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 6 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total 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 COMMITMENTS ALL 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 45.3 Official 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 63.5 Private 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 12.5 Memorandum 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 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 1,442 1,007 584 339 183 95 22 0 0 0 Principal 10,912 7,161 6,673 4,992 4,781 2,865 2,257 1,428 1,591 1,033 Interest 1,526 1,240 1,044 823 655 508 402 326 277 234 Official creditors Disbursements 1,353 969 567 337 183 95 22 0 0 0 Principal 1,485 2,057 2,067 1,159 1,287 1,324 1,035 1,037 992 851 Interest 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 41 Private creditors Disbursements 89 38 16 1 0 0 0 0 0 0 Principal 9,427 5,105 4,606 3,834 3,494 1,541 1,223 391 599 182 Interest 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 67 516 TOGO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 40 1,122 1,281 1,488 1,346 1,472 1,521 1,432 1,406 1,581 Long-term debt (LDOD) 40 970 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337 Public and publicly guaranteed 40 970 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 33 87 90 88 95 83 70 57 52 Short-term debt 0 120 113 88 44 52 154 133 146 192 of 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 0 Memo: 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 0 Memo: 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 13 Long-term debt 5 97 89 101 57 69 38 25 33 13 IMF purchases 0 22 21 0 15 15 0 0 0 0 Principal repayments 2 19 43 32 40 28 32 19 22 10 Long-term debt 2 19 27 20 28 17 22 10 11 1 IMF repurchases 0 0 16 11 12 11 9 9 10 9 Net flows on debt 3 108 16 72 12 52 87 -43 25 22 of which short-term debt 0 7 -51 3 -20 -3 81 -49 14 19 Interest payments (INT) 1 34 43 26 16 12 13 10 11 3 Long-term debt 1 19 33 23 13 10 8 5 6 0 IMF charges 0 0 4 1 0 0 0 0 0 0 Short-term debt 0 14 6 2 2 2 4 5 5 2 Net transfers on debt 2 74 -27 45 -4 40 74 -54 14 19 Total debt service paid (TDS) 2 52 86 58 56 41 45 30 32 13 Long-term debt 2 38 60 44 42 27 31 15 17 1 IMF repurchases and charges 0 0 20 12 12 12 10 10 11 10 Short-term debt (interest only) 0 14 6 2 2 2 4 5 5 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 11 136 204 187 118 157 109 112 119 119 Net flow of long-term debt (ex. IMF) 3 78 62 80 29 52 15 15 21 12 Foreign direct investment (net) 1 43 18 17 21 30 43 42 64 75 Portfolio equity flows 0 0 4 19 11 12 9 6 2 0 Grants (excluding technical coop.) 7 15 120 70 58 63 43 49 33 32 Memo: technical coop. grants 8 29 60 29 27 27 27 23 24 27 official net resource flows 11 53 182 151 92 116 58 64 54 44 private net resource flows 0 84 22 36 26 42 51 48 65 75 NET TRANSFERS 10 117 156 158 88 129 83 90 88 94 Interest on long-term debt 1 19 33 23 13 10 8 5 6 0 Profit remittances on FDI 0 0 15 6 16 19 19 17 25 25 Memo: 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 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 248 1,096 1,598 1,439 1,470 1,393 1,383 1,192 1,234 1,354 Exports of goods, serv. & inc. (XGS) .. 580 723 616 555 541 505 472 506 533 Worker remit. & comp. of employees 0 10 27 29 26 19 23 34 69 69 Imports of goods & services (MGS) .. 752 912 841 762 770 699 664 701 .. International reserves (RES) 35 85 358 88 119 118 122 152 126 205 Current account balance .. -95 -84 -154 -117 -140 -127 -140 -169 .. 4. DEBT INDICATORS EDT / XGS (%) .. 193.4 177.2 241.7 242.6 272.2 301.5 303.3 277.6 296.5 EDT / GNI (%) 16.0 102.4 80.1 103.4 91.5 105.7 110.0 120.2 113.9 116.7 TDS / XGS (%) .. 9.0 11.9 9.5 10.1 7.5 8.9 6.3 6.4 2.5 INT / XGS (%) .. 5.8 6.0 4.3 2.9 2.3 2.6 2.2 2.1 0.5 INT / GNI (%) 0.3 3.1 2.7 1.8 1.1 0.9 0.9 0.9 0.9 0.2 RES / EDT (%) 88.8 7.6 28.0 5.9 8.8 8.0 8.0 10.6 9.0 13.0 RES / MGS (months) .. 1.4 4.7 1.3 1.9 1.8 2.1 2.8 2.2 .. Short-term / EDT (%) 0.1 10.7 8.8 5.9 3.3 3.5 10.1 9.3 10.4 12.1 Concessional / EDT (%) 78.9 28.3 55.1 65.2 71.4 71.4 68.7 70.2 70.2 68.9 Multilateral / EDT (%) 4.8 10.3 43.7 49.7 53.4 54.4 52.1 53.6 53.6 52.1 517 TOGO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 40 970 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337 Public and publicly guaranteed 40 970 1,081 1,310 1,214 1,325 1,285 1,230 1,203 1,337 Official 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 30 228 189 253 256 275 272 254 248 283 Private 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 0 Private 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 0 Memo: IBRD 0 4 5 0 0 0 0 0 0 0 IDA 2 43 393 576 561 620 622 604 585 632 DISBURSEMENTS 5 97 89 101 57 69 38 25 33 13 Public and publicly guaranteed 5 97 89 101 57 69 38 25 33 13 Official creditors 4 47 89 101 57 69 38 25 33 13 Multilateral 1 35 45 72 37 63 32 22 25 10 Concessional 1 30 44 70 37 52 32 22 25 10 Bilateral 3 12 44 29 20 6 5 4 8 3 Concessional 3 5 44 29 20 6 5 4 8 3 Private creditors 0 50 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 0 0 0 0 0 0 0 Other private 0 47 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 1 13 31 56 17 44 22 15 12 7 PRINCIPAL REPAYMENTS 2 19 27 20 28 17 22 10 11 1 Public and publicly guaranteed 2 19 27 20 28 17 22 10 11 1 Official creditors 1 10 27 20 22 17 22 10 11 1 Multilateral 0 0 17 17 16 9 14 9 11 1 Concessional 0 0 5 12 9 8 11 8 11 1 Bilateral 1 9 10 4 6 8 8 2 0 0 Concessional 1 1 1 3 4 6 5 1 0 0 Private creditors 1 9 0 0 6 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 4 0 0 6 0 0 0 0 0 Other private 1 4 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 8 0 0 0 0 0 0 0 IDA 0 0 1 4 4 5 8 5 10 0 NET FLOWS ON DEBT 3 78 62 80 29 52 15 15 21 12 Public and publicly guaranteed 3 78 62 80 29 52 15 15 21 12 Official 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 3 Private 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 0 Private 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 0 Memo: IBRD 0 0 -8 0 0 0 0 0 0 0 IDA 1 12 30 52 13 39 15 10 1 7 518 TOGO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 1 19 33 23 13 10 8 5 6 0 Public and publicly guaranteed 1 19 33 23 13 10 8 5 6 0 Official creditors 1 12 28 23 13 10 8 5 6 0 Multilateral 0 2 8 8 7 5 7 5 6 0 Concessional 0 1 4 7 6 5 6 4 6 0 Bilateral 1 9 20 15 6 5 1 0 0 0 Concessional 1 0 4 6 2 3 1 0 0 0 Private creditors 0 8 5 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 7 5 0 0 0 0 0 0 0 Other private 0 0 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 1 0 0 0 0 0 0 0 IDA 0 0 3 5 4 3 5 3 5 0 NET TRANSFERS ON DEBT 2 59 29 57 15 42 7 11 16 12 Public and publicly guaranteed 2 59 29 57 15 42 7 11 16 12 Official 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 3 Private 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 0 Private 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 0 Memo: IBRD 0 0 -9 0 0 0 0 0 0 0 IDA 1 12 28 47 9 36 10 7 -4 7 DEBT SERVICE (LTDS) 2 38 60 44 42 27 31 15 17 1 Public and publicly guaranteed 2 38 60 44 42 27 31 15 17 1 Official creditors 2 21 55 44 36 27 31 15 17 1 Multilateral 0 3 24 25 23 14 21 13 17 1 Concessional 0 1 9 19 15 12 17 13 17 1 Bilateral 2 19 30 19 12 12 9 2 0 0 Concessional 1 2 4 8 7 8 6 2 0 0 Private creditors 1 16 5 0 6 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 12 5 0 6 0 0 0 0 0 Other private 1 5 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 9 0 0 0 0 0 0 0 IDA 0 0 4 9 8 8 13 8 15 0 UNDISBURSED DEBT 7 155 290 187 224 217 188 152 120 100 Official creditors 6 151 290 187 224 217 188 152 120 100 Private creditors 1 3 0 0 0 0 0 0 0 0 Memorandum 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 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 15.9 17.0 Deutsche mark 62.3 16.3 1.9 1.7 1.4 1.4 1.2 1.3 .. .. French franc 7.8 22.3 12.9 8.6 7.4 7.4 6.8 6.6 .. .. Japanese yen 0.0 0.0 3.0 4.6 5.8 5.8 6.6 6.1 5.4 5.3 Pound sterling 0.0 5.4 1.9 1.7 1.7 1.6 1.6 1.6 1.6 1.6 Swiss franc 0.0 9.5 10.3 9.5 9.5 8.6 8.2 7.8 7.9 8.6 U.S.dollars 15.4 18.1 44.2 49.2 49.4 49.9 51.7 52.7 52.9 51.1 Multiple currency 0.0 2.1 7.5 7.1 7.1 7.0 6.9 6.7 6.4 6.4 Special drawing rights 0.0 0.0 1.0 1.1 1.2 1.2 1.3 1.3 1.2 1.3 All other currencies 14.5 26.3 17.3 16.4 16.6 16.9 15.7 16.0 8.6 8.7 519 TOGO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 79 31 30 19 9 0 4 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 3 0 Principal rescheduled .. .. 66 11 15 7 0 0 0 0 Official .. .. 66 11 15 7 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 12 16 15 7 0 0 0 0 Official .. .. 12 16 15 7 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 18 5 4 11 0 0 2 0 Memo: interest forgiven .. .. 0 3 35 1 0 0 0 0 Debt stock reduction .. .. 0 0 49 0 0 0 0 0 of which debt buyback .. .. 0 0 6 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 104 12 -142 126 50 -89 -26 175 Net flows on debt 3 108 16 72 12 52 87 -43 25 22 Net change in interest arrears .. .. 1 0 -24 11 21 29 -1 27 Interest capitalized .. .. 12 16 15 7 0 0 0 0 Debt forgiveness or reduction .. .. -18 -5 -47 -11 0 0 -2 0 Cross-currency valuation .. .. 42 -133 -194 -18 -63 -66 -40 115 Residual .. .. 52 63 96 85 5 -9 -9 12 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.6 4.0 0.7 1.0 1.0 2.5 0.8 0.0 2.5 0.0 Maturity (years) 16.8 24.5 39.5 33.0 37.8 29.9 47.0 0.0 24.9 0.0 Grace period (years) 4.4 7.4 10.4 9.1 9.7 7.6 10.3 0.0 7.4 0.0 Grant element (%) 32.8 46.5 80.2 73.5 76.8 59.6 82.0 0.0 56.4 0.0 Official creditors Interest (%) 3.5 3.2 0.7 1.0 1.0 2.5 0.8 0.0 2.5 0.0 Maturity (years) 21.3 26.7 39.5 33.0 37.8 29.9 47.0 0.0 24.9 0.0 Grace period (years) 5.4 8.0 10.4 9.1 9.7 7.6 10.3 0.0 7.4 0.0 Grant element (%) 42.6 52.6 80.2 73.5 76.8 59.6 82.0 0.0 56.4 0.0 Private creditors Interest (%) 7.6 10.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 4.3 6.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.6 2.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 5.5 -1.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 3 97 115 131 108 55 22 0 6 0 Official creditors 2 86 115 131 108 55 22 0 6 0 Private creditors 1 11 0 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 27 22 15 11 7 4 3 1 1 0 Principal 48 45 37 37 40 43 45 46 47 49 Interest 21 20 19 18 17 16 15 14 13 12 Official creditors Disbursements 27 22 15 11 7 4 3 1 1 0 Principal 48 45 37 37 40 43 45 46 47 49 Interest 21 20 19 18 17 16 15 14 13 12 Bilateral creditors Disbursements 2 1 1 0 0 0 0 0 0 0 Principal 30 25 16 14 16 17 17 17 18 19 Interest 14 13 11 11 10 10 9 8 8 7 Multilateral creditors Disbursements 25 21 14 10 6 4 3 1 1 0 Principal 18 20 20 23 24 27 28 29 30 30 Interest 7 7 7 7 7 6 6 6 6 5 Private 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 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 520 TONGA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 53.7 63.8 58.7 64.9 69.1 65.5 63.4 73.5 Long-term debt (LDOD) .. .. 44.5 62.5 57.7 64.2 68.7 65.1 62.7 72.6 Public and publicly guaranteed .. .. 44.5 62.5 57.7 64.2 68.7 65.1 62.7 72.6 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 9.2 1.3 1.0 0.7 0.4 0.5 0.6 1.0 of which interest arrears on LDOD .. .. 0.0 0.0 0.0 0.1 0.2 0.3 0.5 0.7 Official creditors .. .. 0.0 0.0 0.0 0.1 0.2 0.3 0.5 0.7 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD .. .. 0.0 0.0 0.0 0.1 0.4 0.9 2.0 2.7 Official creditors .. .. 0.0 0.0 0.0 0.1 0.4 0.9 2.0 2.7 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits .. .. 1.0 1.2 0.8 0.3 1.9 1.7 1.4 1.2 TOTAL DEBT FLOWS Disbursements .. .. 3.3 4.5 4.0 7.0 4.4 5.2 2.7 5.6 Long-term debt .. .. 3.3 4.5 4.0 7.0 4.4 5.2 2.7 5.6 IMF purchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 1.0 2.7 3.2 2.6 3.2 3.4 1.7 2.1 Long-term debt .. .. 1.0 2.7 3.2 2.6 3.2 3.4 1.7 2.1 IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 10.4 1.9 0.5 4.0 0.8 1.7 0.9 3.6 of which short-term debt .. .. 8.2 0.0 -0.3 -0.4 -0.4 0.0 0.0 0.1 Interest payments (INT) .. .. 0.9 0.8 0.9 0.9 0.8 0.8 0.6 0.6 Long-term debt .. .. 0.5 0.7 0.9 0.8 0.8 0.8 0.6 0.6 IMF charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Net transfers on debt .. .. 9.5 1.1 -0.4 3.1 0.0 0.9 0.4 3.0 Total debt service paid (TDS) .. .. 1.9 3.4 4.1 3.5 4.0 4.2 2.3 2.7 Long-term debt .. .. 1.5 3.4 4.1 3.5 4.0 4.2 2.3 2.7 IMF repurchases and charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. .. 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 19.2 16.2 11.9 11.9 10.3 13.3 11.6 9.9 Net flow of long-term debt (ex. IMF) .. .. 2.2 1.9 0.8 4.3 1.2 1.8 0.9 3.5 Foreign direct investment (net) .. .. 0.2 2.0 3.0 2.0 2.0 4.7 1.0 2.4 Portfolio equity flows .. .. -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 16.9 12.3 8.1 5.6 7.1 6.9 9.7 4.0 Memo: technical coop. grants .. .. 10.9 17.5 17.0 14.1 13.6 11.2 12.8 15.7 official net resource flows .. .. 19.1 14.0 10.0 10.7 9.6 9.9 10.6 7.5 private net resource flows .. .. 0.1 2.2 1.9 1.2 0.7 3.4 1.0 2.4 NET TRANSFERS .. .. 18.4 14.5 10.0 10.1 8.5 11.5 10.0 8.3 Interest on long-term debt .. .. 0.5 0.7 0.9 0.8 0.8 0.8 0.6 0.6 Profit remittances on FDI .. .. 0.3 1.0 1.0 1.0 1.0 1.0 1.0 1.0 Memo: official net transfers .. .. 18.6 13.3 9.4 10.1 9.0 9.1 10.0 6.9 private net transfers .. .. -0.2 1.2 0.6 0.0 -0.4 2.4 0.0 1.4 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 116.2 172.9 183.1 166.9 159.8 160.1 141.9 135.4 Exports of goods, serv. & inc. (XGS) .. .. 66.5 .. .. .. .. .. 82.0 46.1 Worker remit. & comp. of employees .. .. 23.7 19.8 19.8 19.8 19.8 19.8 52.5 52.5 Imports of goods & services (MGS) .. .. 75.0 .. .. .. .. .. 93.1 98.0 International reserves (RES) .. .. 31.3 30.6 27.5 28.7 26.8 27.0 26.1 27.7 Current account balance .. .. 5.8 .. .. .. .. .. -12.9 10.5 4. DEBT INDICATORS EDT / XGS (%) .. .. 80.8 .. .. .. .. .. 77.3 159.6 EDT / GNI (%) .. .. 46.2 36.9 32.1 38.9 43.2 40.9 44.7 54.3 TDS / XGS (%) .. .. 2.9 .. .. .. .. .. 2.8 5.9 INT / XGS (%) .. .. 1.4 .. .. .. .. .. 0.7 1.3 INT / GNI (%) .. .. 0.8 0.4 0.5 0.5 0.5 0.5 0.4 0.4 RES / EDT (%) .. .. 58.4 48.0 46.9 44.1 38.8 41.2 41.2 37.7 RES / MGS (months) .. .. 5.0 .. .. .. .. .. 3.4 3.4 Short-term / EDT (%) .. .. 17.2 2.1 1.8 1.1 0.5 0.7 1.0 1.3 Concessional / EDT (%) .. .. 72.2 83.3 83.6 84.9 87.3 90.4 90.8 90.7 Multilateral / EDT (%) .. .. 42.4 68.4 73.0 77.1 81.4 82.1 78.1 80.2 521 TONGA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 44.5 62.5 57.7 64.2 68.7 65.1 62.7 72.6 Public and publicly guaranteed .. .. 44.5 62.5 57.7 64.2 68.7 65.1 62.7 72.6 Official creditors .. .. 44.5 58.0 54.3 61.7 67.5 65.1 62.7 72.6 Multilateral .. .. 22.7 43.6 42.8 50.1 56.3 53.8 49.5 58.9 Concessional .. .. 18.0 38.8 37.6 43.5 50.9 49.1 45.3 54.1 Bilateral .. .. 21.7 14.4 11.5 11.6 11.2 11.3 13.2 13.6 Concessional .. .. 20.8 14.4 11.5 11.6 9.4 10.1 12.2 12.6 Private creditors .. .. 0.0 4.5 3.4 2.5 1.3 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 4.5 3.4 2.5 1.3 0.0 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 2.6 4.6 4.3 4.4 4.3 4.0 3.8 4.2 DISBURSEMENTS .. .. 3.3 4.5 4.0 7.0 4.4 5.2 2.7 5.6 Public and publicly guaranteed .. .. 3.3 4.5 4.0 7.0 4.4 5.2 2.7 5.6 Official creditors .. .. 3.3 3.9 4.0 7.0 4.4 5.2 2.7 5.6 Multilateral .. .. 3.3 3.9 3.9 6.5 2.4 3.0 0.2 5.2 Concessional .. .. 3.2 3.9 2.4 5.1 2.4 3.0 0.2 5.2 Bilateral .. .. 0.0 0.0 0.0 0.5 2.0 2.2 2.5 0.4 Concessional .. .. 0.0 0.0 0.0 0.5 0.3 2.2 2.5 0.4 Private creditors .. .. 0.0 0.7 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 0.7 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 1.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.2 PRINCIPAL REPAYMENTS .. .. 1.0 2.7 3.2 2.6 3.2 3.4 1.7 2.1 Public and publicly guaranteed .. .. 1.0 2.7 3.2 2.6 3.2 3.4 1.7 2.1 Official creditors .. .. 1.0 2.2 2.1 1.8 1.9 2.1 1.7 2.1 Multilateral .. .. 0.5 0.9 0.9 0.7 0.9 0.9 1.0 0.9 Concessional .. .. 0.3 0.3 0.3 0.4 0.5 0.6 0.7 0.7 Bilateral .. .. 0.5 1.3 1.2 1.1 1.0 1.2 0.7 1.3 Concessional .. .. 0.4 1.3 1.2 1.1 1.0 0.9 0.6 1.3 Private creditors .. .. 0.0 0.5 1.1 0.8 1.3 1.3 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 0.5 1.1 0.8 1.3 1.3 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 NET FLOWS ON DEBT .. .. 2.2 1.9 0.8 4.3 1.2 1.8 0.9 3.5 Public and publicly guaranteed .. .. 2.2 1.9 0.8 4.3 1.2 1.8 0.9 3.5 Official creditors .. .. 2.2 1.7 1.9 5.2 2.5 3.0 0.9 3.5 Multilateral .. .. 2.8 3.0 3.1 5.8 1.5 2.1 -0.8 4.3 Concessional .. .. 2.9 3.6 2.1 4.7 1.9 2.4 -0.5 4.5 Bilateral .. .. -0.5 -1.3 -1.1 -0.6 1.0 1.0 1.7 -0.8 Concessional .. .. -0.4 -1.3 -1.1 -0.6 -0.8 1.3 1.9 -0.8 Private creditors .. .. 0.0 0.2 -1.1 -0.8 -1.3 -1.3 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 0.2 -1.1 -0.8 -1.3 -1.3 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 1.0 -0.1 0.0 0.0 0.0 -0.1 -0.1 0.1 522 TONGA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 0.5 0.7 0.9 0.8 0.8 0.8 0.6 0.6 Public and publicly guaranteed .. .. 0.5 0.7 0.9 0.8 0.8 0.8 0.6 0.6 Official creditors .. .. 0.5 0.7 0.6 0.6 0.6 0.7 0.6 0.6 Multilateral .. .. 0.2 0.6 0.5 0.5 0.5 0.5 0.5 0.5 Concessional .. .. 0.1 0.4 0.4 0.4 0.5 0.5 0.5 0.5 Bilateral .. .. 0.3 0.1 0.1 0.1 0.1 0.2 0.1 0.1 Concessional .. .. 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Private creditors .. .. 0.0 0.0 0.3 0.2 0.2 0.1 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 0.3 0.2 0.2 0.1 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET TRANSFERS ON DEBT .. .. 1.7 1.2 -0.1 3.5 0.5 1.0 0.4 2.9 Public and publicly guaranteed .. .. 1.7 1.2 -0.1 3.5 0.5 1.0 0.4 2.9 Official creditors .. .. 1.7 1.0 1.3 4.5 1.9 2.3 0.4 2.9 Multilateral .. .. 2.5 2.4 2.6 5.2 1.0 1.5 -1.3 3.9 Concessional .. .. 2.8 3.2 1.7 4.3 1.4 1.9 -1.0 4.0 Bilateral .. .. -0.8 -1.4 -1.2 -0.7 0.9 0.7 1.6 -1.0 Concessional .. .. -0.5 -1.4 -1.2 -0.7 -0.9 1.2 1.8 -1.0 Private creditors .. .. 0.0 0.2 -1.4 -1.0 -1.4 -1.3 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 0.2 -1.4 -1.0 -1.4 -1.3 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 1.0 -0.1 0.0 -0.1 -0.1 -0.1 -0.1 0.1 DEBT SERVICE (LTDS) .. .. 1.5 3.4 4.1 3.5 4.0 4.2 2.3 2.7 Public and publicly guaranteed .. .. 1.5 3.4 4.1 3.5 4.0 4.2 2.3 2.7 Official creditors .. .. 1.5 2.9 2.7 2.4 2.6 2.9 2.3 2.7 Multilateral .. .. 0.7 1.5 1.4 1.3 1.4 1.4 1.5 1.3 Concessional .. .. 0.4 0.7 0.7 0.7 1.0 1.1 1.2 1.2 Bilateral .. .. 0.8 1.4 1.3 1.2 1.1 1.5 0.8 1.4 Concessional .. .. 0.5 1.4 1.3 1.2 1.1 1.0 0.6 1.4 Private creditors .. .. 0.0 0.5 1.4 1.0 1.4 1.3 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 0.5 1.4 1.0 1.4 1.3 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 UNDISBURSED DEBT .. .. 18.0 21.9 15.4 10.6 7.1 1.7 3.3 14.7 Official creditors .. .. 18.0 21.9 15.4 10.6 7.1 1.7 3.3 14.7 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. .. 38.8 53.2 49.1 55.1 60.3 59.2 57.5 66.7 Variable rate LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD .. .. 44.5 62.5 57.7 64.2 68.7 65.1 62.7 72.6 Private sector LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 15.9 14.2 Deutsche mark .. .. 40.8 21.7 18.8 16.6 12.1 10.7 .. .. French franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. Japanese yen .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. 6.0 1.4 1.1 0.7 0.4 0.2 0.0 0.0 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 1.0 10.8 9.6 8.2 6.2 4.4 4.3 11.1 Multiple currency .. .. 45.5 60.2 61.7 63.6 69.3 70.1 66.4 62.1 Special drawing rights .. .. 0.0 3.9 4.5 4.5 4.3 4.4 4.4 4.1 All other currencies .. .. 6.7 2.1 4.4 6.4 7.7 10.2 9.0 8.5 523 TONGA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total change in debt stocks .. .. 14.5 -0.3 -5.1 6.3 4.2 -3.6 -2.1 10.1 Net flows on debt .. .. 10.4 1.9 0.5 4.0 0.8 1.7 0.9 3.6 Net change in interest arrears .. .. 0.0 0.0 0.0 0.0 0.1 0.1 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 .. .. 3.1 -2.2 -5.2 1.7 -0.8 -4.2 -3.1 5.1 Residual .. .. 1.1 0.0 -0.4 0.6 4.0 -1.2 -0.1 1.2 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 0.9 3.2 0.0 0.0 5.8 0.0 2.5 1.1 Maturity (years) .. .. 39.7 23.8 0.0 19.1 5.3 0.0 12.1 29.6 Grace period (years) .. .. 10.2 6.9 0.0 10.1 0.8 0.0 4.6 9.1 Grant element (%) .. .. 79.5 44.9 0.0 74.1 10.1 0.0 40.0 71.2 Official creditors Interest (%) .. .. 0.9 3.2 0.0 0.0 5.8 0.0 2.5 1.1 Maturity (years) .. .. 39.7 23.8 0.0 19.1 5.3 0.0 12.1 29.6 Grace period (years) .. .. 10.2 6.9 0.0 10.1 0.8 0.0 4.6 9.1 Grant element (%) .. .. 79.5 44.9 0.0 74.1 10.1 0.0 40.0 71.2 Private creditors Interest (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. 6 8 0 3 2 0 5 16 Official creditors .. .. 6 8 0 3 2 0 5 16 Private creditors .. .. 0 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 5.6 5.7 3.8 2.7 1.2 0.7 0.5 0.2 0.0 0.0 Principal 2.1 2.9 3.1 2.9 3.4 3.4 3.6 2.8 3.1 3.4 Interest 0.6 1.0 1.0 1.3 1.2 1.1 1.1 1.0 1.0 1.0 Official creditors Disbursements 5.6 5.7 3.8 2.7 1.2 0.7 0.5 0.2 0.0 0.0 Principal 2.1 2.9 3.1 2.9 3.4 3.4 3.6 2.8 3.1 3.4 Interest 0.6 1.0 1.0 1.3 1.2 1.1 1.1 1.0 1.0 1.0 Bilateral creditors Disbursements 0.4 0.7 0.6 0.4 0.2 0.2 0.2 0.1 0.0 0.0 Principal 1.3 1.4 1.4 1.1 1.6 1.6 1.9 1.2 1.1 1.0 Interest 0.1 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.0 Multilateral creditors Disbursements 5.2 5.0 3.1 2.3 1.0 0.4 0.3 0.1 0.0 0.0 Principal 0.9 1.5 1.7 1.9 1.8 1.8 1.7 1.5 1.9 2.4 Interest 0.5 0.8 0.8 1.1 1.1 1.0 1.0 1.0 0.9 0.9 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 524 TRINIDAD AND TOBAGO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 101 829 2,511 2,398 2,316 2,324 2,612 2,696 2,656 2,672 Long-term debt (LDOD) 101 712 2,055 2,104 1,737 1,771 1,779 1,845 1,795 1,807 Public and publicly guaranteed 101 712 1,782 2,026 1,683 1,628 1,635 1,735 1,685 1,697 Private nonguaranteed 0 0 273 78 54 144 144 110 110 110 Use of IMF credit 0 0 329 24 4 0 0 0 0 0 Short-term debt 0 116 127 270 575 553 833 851 861 865 of which interest arrears on LDOD 0 0 0 10 7 7 11 1 1 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 9 6 7 10 0 0 0 Memo: principal arrears on LDOD 0 0 37 108 92 97 53 49 47 0 Official creditors 0 0 6 2 2 2 2 1 1 0 Private creditors 0 0 31 106 90 96 51 47 46 0 Memo: export credits 0 0 591 640 875 330 265 244 223 243 TOTAL DEBT FLOWS Disbursements 12 363 188 401 83 175 311 416 61 44 Long-term debt 8 363 85 401 83 175 311 416 61 44 IMF purchases 5 0 103 0 0 0 0 0 0 0 Principal repayments 14 176 233 282 399 188 297 332 78 68 Long-term debt 10 176 233 257 381 183 297 332 78 68 IMF repurchases 4 0 0 25 18 4 0 0 0 0 Net flows on debt -1 137 -45 -270 -8 -35 291 112 -8 -19 of which short-term debt 0 -50 0 -389 308 -23 277 28 9 5 Interest payments (INT) 6 54 216 212 163 138 169 191 171 197 Long-term debt 6 50 177 185 140 108 124 135 132 160 IMF charges 0 0 24 2 1 0 0 0 0 0 Short-term debt 0 4 15 25 22 30 45 56 39 37 Net transfers on debt -8 83 -262 -482 -171 -173 122 -79 -179 -216 Total debt service paid (TDS) 20 230 449 494 562 325 466 523 249 265 Long-term debt 16 226 410 442 521 291 421 467 210 228 IMF repurchases and charges 4 0 24 27 19 4 0 0 0 0 Short-term debt (interest only) 0 4 15 25 22 30 45 56 39 37 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 81 372 -26 506 710 730 662 764 819 714 Net flow of long-term debt (ex. IMF) -2 187 -148 144 -298 -8 13 84 -17 -24 Foreign direct investment (net) 83 185 109 355 999 730 643 680 835 737 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 0 1 13 7 8 9 6 1 1 2 Memo: technical coop. grants 1 4 5 6 5 4 5 5 7 8 official net resource flows 2 115 42 -22 -46 -30 -61 -40 -11 -22 private net resource flows 80 257 -68 528 756 760 723 804 830 737 NET TRANSFERS 75 -157 -400 47 342 435 295 271 203 -112 Interest on long-term debt 6 50 177 185 140 108 124 135 132 160 Profit remittances on FDI 0 479 197 275 227 188 244 358 484 666 Memo: official net transfers -1 99 -8 -92 -91 -79 -110 -89 -56 -61 private net transfers 76 -256 -392 138 433 513 405 360 259 -51 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 757 5,925 4,673 5,244 5,415 5,778 6,549 7,707 8,842 9,185 Exports of goods, serv. & inc. (XGS) .. 3,373 2,331 2,883 3,088 3,038 3,542 4,963 5,028 4,674 Worker remit. & comp. of employees 0 1 3 28 30 45 54 38 41 45 Imports of goods & services (MGS) .. 2,972 1,863 2,742 3,676 3,660 3,494 4,419 4,604 .. International reserves (RES) 43 2,813 513 564 723 800 963 1,403 1,924 2,049 Current account balance .. 357 459 105 -614 -644 31 544 416 .. 4. DEBT INDICATORS EDT / XGS (%) .. 24.6 107.7 83.2 75.0 76.5 73.8 54.3 52.8 57.2 EDT / GNI (%) 13.3 14.0 53.7 45.7 42.8 40.2 39.9 35.0 30.0 29.1 TDS / XGS (%) .. 6.8 19.3 17.2 18.2 10.7 13.2 10.5 5.0 5.7 INT / XGS (%) .. 1.6 9.3 7.4 5.3 4.5 4.8 3.9 3.4 4.2 INT / GNI (%) 0.8 0.9 4.6 4.0 3.0 2.4 2.6 2.5 1.9 2.1 RES / EDT (%) 42.7 339.4 20.4 23.5 31.2 34.4 36.9 52.0 72.4 76.7 RES / MGS (months) .. 11.4 3.3 2.5 2.4 2.6 3.3 3.8 5.0 .. Short-term / EDT (%) 0.0 14.0 5.1 11.3 24.8 23.8 31.9 31.6 32.4 32.4 Concessional / EDT (%) 5.9 1.1 2.1 0.8 0.6 0.5 0.4 0.3 0.4 0.1 Multilateral / EDT (%) 23.1 8.6 4.1 23.9 25.2 26.7 24.7 23.5 22.9 22.8 525 TRINIDAD AND TOBAGO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 101 712 2,055 2,104 1,737 1,771 1,779 1,845 1,795 1,807 Public and publicly guaranteed 101 712 1,782 2,026 1,683 1,628 1,635 1,735 1,685 1,697 Official creditors 45 263 634 876 778 763 688 642 613 626 Multilateral 23 71 103 573 584 620 645 634 607 610 Concessional 0 1 6 3 4 6 7 7 10 4 Bilateral 22 192 532 303 194 143 42 8 5 16 Concessional 6 8 48 17 10 6 4 2 1 0 Private creditors 56 450 1,147 1,150 905 865 948 1,093 1,073 1,071 Bonds 36 53 335 725 575 575 802 1,026 1,013 1,022 Commercial banks 15 348 624 347 273 241 108 47 46 49 Other private 4 50 188 79 57 49 38 20 13 0 Private nonguaranteed 0 0 273 78 54 144 144 110 110 110 Bonds 0 0 0 0 0 110 110 110 110 110 Commercial banks and other 0 0 273 78 54 34 34 0 0 0 Memo: IBRD 23 57 41 78 75 83 85 89 90 87 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 8 363 85 401 83 175 311 416 61 44 Public and publicly guaranteed 8 363 85 401 83 65 311 416 61 44 Official creditors 5 125 43 101 83 65 81 64 61 44 Multilateral 3 11 39 99 83 63 79 63 61 44 Concessional 0 0 0 0 1 2 2 1 4 0 Bilateral 1 114 4 2 0 2 2 0 0 0 Concessional 1 0 0 0 0 0 0 0 0 0 Private creditors 3 238 42 300 0 0 230 352 0 0 Bonds 0 0 0 300 0 0 230 352 0 0 Commercial banks 3 197 0 0 0 0 0 0 0 0 Other private 0 41 42 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 110 0 0 0 0 Bonds 0 0 0 0 0 110 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD 3 4 19 17 12 15 10 13 11 8 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 10 176 233 257 381 183 297 332 78 68 Public and publicly guaranteed 10 176 189 245 357 163 297 298 78 68 Official creditors 3 11 13 130 137 104 147 104 74 68 Multilateral 1 6 10 15 40 47 50 71 71 61 Concessional 0 0 0 0 0 0 1 1 1 0 Bilateral 2 5 3 115 97 58 98 33 2 7 Concessional 0 0 0 5 5 4 2 2 1 0 Private creditors 7 165 176 114 220 59 150 194 5 0 Bonds 5 7 52 25 150 0 0 122 0 0 Commercial banks 1 150 99 69 55 46 135 56 0 0 Other private 0 7 25 21 15 13 15 17 5 0 Private nonguaranteed 0 0 44 12 24 21 0 34 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 44 12 24 21 0 34 0 0 Memo: IBRD 1 6 6 5 9 8 8 10 10 11 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT -2 187 -148 144 -298 -8 13 84 -17 -24 Public and publicly guaranteed -2 187 -105 156 -274 -98 13 118 -17 -24 Official creditors 1 114 30 -30 -54 -39 -67 -41 -12 -24 Multilateral 2 5 29 84 43 17 29 -8 -10 -17 Concessional 0 0 0 0 1 2 1 0 3 0 Bilateral -1 109 0 -113 -97 -56 -96 -33 -2 -7 Concessional 1 0 0 -5 -5 -4 -2 -2 -1 0 Private creditors -4 73 -134 186 -220 -59 80 158 -5 0 Bonds -5 -7 -52 275 -150 0 230 230 0 0 Commercial banks 2 47 -99 -69 -55 -46 -135 -56 0 0 Other private 0 34 17 -21 -15 -13 -15 -17 -5 0 Private nonguaranteed 0 0 -44 -12 -24 89 0 -34 0 0 Bonds 0 0 0 0 0 110 0 0 0 0 Commercial banks and other 0 0 -44 -12 -24 -21 0 -34 0 0 Memo: IBRD 2 -1 13 12 4 7 2 4 1 -3 IDA 0 0 0 0 0 0 0 0 0 0 526 TRINIDAD AND TOBAGO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 6 50 177 185 140 108 124 135 132 160 Public and publicly guaranteed 6 50 151 180 136 105 116 127 124 152 Official creditors 2 16 51 69 45 49 49 49 45 39 Multilateral 1 5 6 43 30 41 42 47 44 37 Concessional 0 0 0 0 0 0 0 0 0 0 Bilateral 1 11 45 27 15 7 7 2 1 2 Concessional 0 0 2 1 1 0 0 0 0 0 Private creditors 4 34 101 110 91 56 66 77 79 113 Bonds 2 5 25 85 71 54 53 62 78 108 Commercial banks 1 25 55 20 16 0 11 13 0 5 Other private 0 5 21 5 4 3 2 2 1 0 Private nonguaranteed 0 0 26 5 4 3 8 8 8 8 Bonds 0 0 0 0 0 0 8 8 8 8 Commercial banks and other 0 0 26 5 4 3 0 0 0 0 Memo: IBRD 1 5 2 5 5 5 6 7 7 6 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -9 137 -326 -42 -438 -116 -110 -51 -149 -184 Public and publicly guaranteed -9 137 -256 -24 -410 -203 -102 -9 -141 -176 Official creditors -1 98 -21 -99 -99 -88 -116 -90 -57 -63 Multilateral 1 0 23 41 13 -25 -13 -55 -54 -54 Concessional 0 0 0 0 1 2 1 0 3 0 Bilateral -2 98 -44 -140 -112 -63 -103 -35 -3 -9 Concessional 1 0 -2 -6 -5 -5 -2 -2 -1 0 Private creditors -7 39 -235 75 -311 -115 14 81 -84 -113 Bonds -7 -12 -77 190 -221 -54 177 169 -78 -108 Commercial banks 1 22 -154 -89 -72 -46 -146 -69 0 -5 Other private -1 29 -4 -26 -18 -16 -17 -19 -6 0 Private nonguaranteed 0 0 -70 -18 -28 87 -8 -42 -8 -8 Bonds 0 0 0 0 0 110 -8 -8 -8 -8 Commercial banks and other 0 0 -70 -18 -28 -23 0 -34 0 0 Memo: IBRD 1 -6 11 7 -1 2 -4 -3 -6 -9 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 16 226 410 442 521 291 421 467 210 228 Public and publicly guaranteed 16 226 340 424 493 268 413 425 202 220 Official creditors 6 27 64 200 182 153 197 154 118 107 Multilateral 2 11 16 58 70 88 92 118 115 98 Concessional 0 0 1 0 0 0 1 1 1 0 Bilateral 4 16 48 142 112 65 105 35 3 9 Concessional 0 0 2 6 5 5 2 2 1 0 Private creditors 10 199 276 225 311 115 216 271 84 113 Bonds 7 12 77 110 221 54 53 184 78 108 Commercial banks 2 175 154 89 72 46 146 69 0 5 Other private 1 12 45 26 18 16 17 19 6 0 Private nonguaranteed 0 0 70 18 28 23 8 42 8 8 Bonds 0 0 0 0 0 0 8 8 8 8 Commercial banks and other 0 0 70 18 28 23 0 34 0 0 Memo: IBRD 2 10 9 10 14 13 14 17 17 18 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 21 280 330 274 571 511 541 463 358 336 Official creditors 21 201 246 274 571 511 541 463 358 336 Private creditors 0 79 83 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 6 9 54 20 14 12 11 9 11 4 Variable rate LDOD 0 227 1,202 1,033 858 915 751 619 602 566 Public sector LDOD 101 712 1,782 2,026 1,683 1,628 1,635 1,735 1,685 1,697 Private sector LDOD 0 0 273 78 54 144 144 110 110 110 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.4 0.0 Deutsche mark 0.0 5.6 6.8 1.9 1.4 1.1 0.5 0.2 .. .. French franc 0.0 0.1 4.1 1.6 1.1 0.9 0.2 0.0 .. .. Japanese yen 0.0 18.4 34.8 13.8 11.9 11.2 4.5 7.1 6.0 6.4 Pound sterling 33.4 0.2 3.4 2.7 3.1 3.2 3.0 2.6 2.6 2.9 Swiss franc 0.0 4.3 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.0 U.S.dollars 37.7 61.3 44.9 53.9 51.4 56.0 64.6 65.8 69.1 71.1 Multiple currency 23.1 8.3 4.1 25.1 29.8 26.4 26.2 23.1 20.8 19.6 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 5.9 1.8 1.8 1.0 1.2 1.2 0.9 1.2 0.0 0.0 527 TRINIDAD AND TOBAGO (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 262 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 262 0 0 0 0 0 0 0 Official .. .. 56 0 0 0 0 0 0 0 Private .. .. 206 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 0 Debt forgiven .. .. 7 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total change in debt stocks .. .. 374 -348 -82 8 288 84 -40 16 Net flows on debt -1 137 -45 -270 -8 -35 291 112 -8 -19 Net change in interest arrears .. .. 0 3 -3 1 3 -10 0 -1 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -7 0 0 0 0 0 0 0 Cross-currency valuation .. .. 111 -86 -112 -13 15 -15 -33 49 Residual .. .. 315 5 41 56 -21 -3 0 -14 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.5 10.4 8.0 9.1 6.1 8.5 8.8 8.0 3.7 6.2 Maturity (years) 9.8 8.6 14.9 12.2 18.6 20.1 15.0 23.0 12.1 25.0 Grace period (years) 1.2 3.7 4.6 8.5 5.8 5.3 9.3 23.0 9.1 4.0 Grant element (%) 10.5 -2.6 10.7 5.6 20.1 8.0 8.0 16.9 39.4 25.7 Official creditors Interest (%) 3.0 7.6 7.9 6.9 6.1 8.5 6.9 0.0 3.7 6.2 Maturity (years) 29.6 9.5 18.1 17.8 18.6 15.8 23.6 0.0 12.1 25.0 Grace period (years) 7.1 2.3 5.4 4.6 5.8 5.3 7.2 0.0 9.1 4.0 Grant element (%) 54.6 9.1 12.0 18.2 20.1 8.0 21.7 0.0 39.4 25.7 Private creditors Interest (%) 8.0 10.6 8.1 9.9 0.0 0.0 9.9 8.0 0.0 0.0 Maturity (years) 7.5 8.6 9.8 10.0 0.0 0.0 10.4 23.0 0.0 0.0 Grace period (years) 0.5 3.9 3.3 10.0 0.0 0.0 10.4 23.0 0.0 0.0 Grant element (%) 5.5 -3.6 8.6 0.7 0.0 0.0 0.8 16.9 0.0 0.0 Memorandum items Commitments 3 210 187 416 385 2 353 352 3 32 Official creditors 0 16 115 116 385 2 123 0 3 32 Private creditors 3 194 72 300 0 0 230 352 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 113 91 69 46 13 3 1 0 0 0 Principal 77 386 86 237 81 81 307 68 58 44 Interest 154 144 115 112 96 91 86 59 55 52 Official creditors Disbursements 113 91 69 46 13 3 1 0 0 0 Principal 70 79 78 80 73 73 73 68 58 44 Interest 42 42 41 39 35 31 27 23 19 16 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 7 7 1 1 0 0 0 0 0 0 Interest 1 0 0 0 0 0 0 0 0 0 Multilateral creditors Disbursements 113 91 69 46 13 3 1 0 0 0 Principal 63 72 77 79 73 73 73 68 58 44 Interest 41 42 41 39 35 31 27 23 19 16 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 8 308 8 158 8 8 234 0 0 0 Interest 112 102 74 74 61 60 59 36 36 36 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 8 8 8 8 8 8 4 0 0 0 Interest 6 5 4 3 2 1 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 300 0 150 0 0 230 0 0 0 Interest 106 97 71 71 59 59 59 36 36 36 528 TUNISIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 599 3,526 7,690 11,379 11,229 10,850 11,880 10,629 10,876 12,625 Long-term debt (LDOD) 541 3,390 6,880 9,566 9,517 9,681 10,267 9,688 10,195 12,027 Public and publicly guaranteed 541 3,210 6,662 9,378 9,334 9,500 9,495 8,888 9,077 10,641 Private nonguaranteed 0 180 218 188 183 181 772 800 1,118 1,386 Use of IMF credit 13 0 176 237 173 129 76 32 0 0 Short-term debt 44 136 634 1,576 1,539 1,040 1,538 909 681 598 of 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 0 Memo: principal arrears on LDOD 3 6 15 0 0 0 0 0 0 0 Official creditors 3 6 8 0 0 0 0 0 0 0 Private creditors 0 0 7 0 0 0 0 0 0 0 Memo: export credits 0 0 1,547 1,867 1,827 495 509 492 296 313 TOTAL DEBT FLOWS Disbursements 96 611 1,017 1,333 1,480 648 1,430 1,540 1,900 1,794 Long-term debt 89 611 1,017 1,333 1,480 648 1,430 1,540 1,900 1,794 IMF purchases 8 0 0 0 0 0 0 0 0 0 Principal repayments 54 290 984 907 875 868 951 1,348 901 928 Long-term debt 47 258 872 861 825 818 901 1,308 870 928 IMF repurchases 7 31 111 47 50 50 50 40 31 0 Net flows on debt 42 267 292 692 568 -719 976 -437 771 783 of which short-term debt 0 -54 259 266 -37 -499 497 -629 -228 -84 Interest payments (INT) 18 255 447 558 538 563 584 553 458 510 Long-term debt 18 228 394 507 479 496 502 489 428 498 IMF charges 0 1 23 12 10 7 4 3 1 0 Short-term debt 0 26 30 39 49 60 77 61 29 11 Net transfers on debt 23 12 -156 133 30 -1,281 393 -991 313 273 Total debt service paid (TDS) 73 545 1,431 1,466 1,413 1,431 1,535 1,901 1,359 1,438 Long-term debt 65 486 1,267 1,368 1,304 1,314 1,404 1,797 1,298 1,426 IMF repurchases and charges 7 32 135 59 60 57 54 43 32 0 Short-term debt (interest only) 0 26 30 39 49 60 77 61 29 11 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 100 612 399 877 1,186 602 985 1,010 1,568 1,781 Net flow of long-term debt (ex. IMF) 42 352 144 472 655 -170 529 232 1,030 866 Foreign direct investment (net) 16 235 76 238 339 650 350 752 457 795 Portfolio equity flows 0 0 5 29 55 58 -3 -18 -15 6 Grants (excluding technical coop.) 43 26 174 138 137 65 108 44 95 114 Memo: technical coop. grants 27 74 100 103 92 93 97 96 91 98 official net resource flows 83 276 516 230 208 -87 246 63 458 156 private net resource flows 17 336 -116 647 978 690 738 948 1,110 1,625 NET TRANSFERS 82 232 -92 56 373 -231 84 54 660 811 Interest on long-term debt 18 228 394 507 479 496 502 489 428 498 Profit remittances on FDI 0 153 97 314 335 337 398 468 480 473 Memo: official net transfers 75 203 267 -139 -131 -416 -83 -232 197 -132 private net transfers 7 29 -359 195 503 185 168 286 463 943 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,380 8,450 11,882 18,555 17,997 18,946 19,895 18,520 19,033 20,028 Exports of goods, serv. & inc. (XGS) .. 3,674 5,851 8,952 8,934 9,290 9,644 9,497 10,540 10,681 Worker remit. & comp. of employees 0 319 551 736 685 718 761 796 927 1,071 Imports of goods & services (MGS) .. 4,119 6,591 9,554 9,636 10,079 10,227 10,347 11,457 11,487 International reserves (RES) 60 700 867 1,978 2,041 1,913 2,325 1,871 2,050 2,365 Current account balance .. -353 -463 -478 -595 -675 -442 -821 -863 -746 4. DEBT INDICATORS EDT / XGS (%) .. 96.0 131.4 127.1 125.7 116.8 123.2 111.9 103.2 118.2 EDT / GNI (%) 43.4 41.7 64.7 61.3 62.4 57.3 59.7 57.4 57.1 63.0 TDS / XGS (%) .. 14.8 24.5 16.4 15.8 15.4 15.9 20.0 12.9 13.5 INT / XGS (%) .. 6.9 7.6 6.2 6.0 6.1 6.1 5.8 4.3 4.8 INT / GNI (%) 1.3 3.0 3.8 3.0 3.0 3.0 2.9 3.0 2.4 2.5 RES / EDT (%) 10.0 19.9 11.3 17.4 18.2 17.6 19.6 17.6 18.8 18.7 RES / MGS (months) .. 2.0 1.6 2.5 2.5 2.3 2.7 2.2 2.1 2.5 Short-term / EDT (%) 7.4 3.9 8.2 13.8 13.7 9.6 12.9 8.5 6.3 4.7 Concessional / EDT (%) 55.7 39.3 36.2 24.9 22.6 23.0 21.7 24.4 23.9 22.8 Multilateral / EDT (%) 7.3 12.3 29.0 32.7 30.9 32.7 30.7 32.5 33.2 33.2 529 TUNISIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 541 3,390 6,880 9,566 9,517 9,681 10,267 9,688 10,195 12,027 Public and publicly guaranteed 541 3,210 6,662 9,378 9,334 9,500 9,495 8,888 9,077 10,641 Official creditors 364 1,961 5,242 7,480 6,986 7,059 6,414 6,050 6,130 6,900 Multilateral 44 433 2,233 3,724 3,472 3,544 3,646 3,453 3,616 4,193 Concessional 16 75 229 442 423 421 418 475 541 613 Bilateral 320 1,529 3,009 3,755 3,515 3,515 2,768 2,596 2,514 2,707 Concessional 317 1,311 2,553 2,394 2,116 2,076 2,166 2,116 2,054 2,264 Private creditors 177 1,249 1,420 1,898 2,348 2,441 3,081 2,839 2,948 3,742 Bonds 2 6 0 603 1,112 1,200 1,825 1,327 1,642 2,433 Commercial banks 0 493 339 592 573 560 484 839 705 730 Other private 175 750 1,081 703 663 681 772 672 601 578 Private nonguaranteed 0 180 218 188 183 181 772 800 1,118 1,386 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 180 218 188 183 181 772 800 1,118 1,386 Memo: IBRD 26 269 1,347 1,610 1,434 1,458 1,323 1,211 1,297 1,464 IDA 16 68 59 47 45 43 41 39 37 35 DISBURSEMENTS 89 611 1,017 1,333 1,480 648 1,430 1,540 1,900 1,794 Public and publicly guaranteed 89 558 987 1,303 1,450 618 1,230 1,240 1,550 1,494 Official creditors 54 323 699 685 656 458 791 699 1,015 764 Multilateral 13 82 430 504 351 289 536 419 689 563 Concessional 3 8 45 46 24 26 48 93 109 88 Bilateral 41 241 269 181 304 169 256 281 325 201 Concessional 40 197 177 118 114 117 242 278 262 170 Private creditors 34 235 288 618 794 159 439 540 535 730 Bonds 0 0 0 138 586 0 240 0 453 650 Commercial banks 0 51 88 457 74 49 19 519 45 69 Other private 34 184 200 23 134 110 180 21 37 11 Private nonguaranteed 0 53 30 30 30 30 200 300 350 300 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 53 30 30 30 30 200 300 350 300 Memo: IBRD 9 51 213 202 127 142 210 136 293 117 IDA 3 1 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 47 258 872 861 825 818 901 1,308 870 928 Public and publicly guaranteed 47 216 835 826 790 786 869 1,276 838 896 Official creditors 14 72 357 592 584 610 653 680 651 723 Multilateral 1 20 168 341 344 366 391 408 362 447 Concessional 0 0 7 22 25 36 28 31 36 39 Bilateral 13 52 189 251 241 244 262 273 289 276 Concessional 11 40 142 194 186 189 181 191 183 187 Private creditors 33 144 478 233 206 175 216 595 187 174 Bonds 0 5 60 0 0 0 0 371 0 0 Commercial banks 0 24 113 98 88 63 134 134 103 91 Other private 33 114 305 135 118 113 82 90 83 82 Private nonguaranteed 0 43 37 35 35 32 32 32 32 32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 43 37 35 35 32 32 32 32 32 Memo: IBRD 1 15 111 187 173 178 166 150 146 154 IDA 0 0 1 2 2 2 2 2 2 2 NET FLOWS ON DEBT 42 352 144 472 655 -170 529 232 1,030 866 Public and publicly guaranteed 42 342 151 477 660 -168 361 -36 712 598 Official creditors 40 251 342 93 72 -152 138 19 364 42 Multilateral 12 61 262 163 8 -77 144 11 327 116 Concessional 3 8 38 24 -1 -10 20 62 72 49 Bilateral 29 189 80 -70 64 -75 -6 8 37 -74 Concessional 30 156 35 -76 -73 -71 61 87 80 -17 Private creditors 1 91 -190 385 588 -16 223 -55 349 556 Bonds 0 -5 -60 138 586 0 240 -371 453 650 Commercial banks 0 27 -26 359 -15 -14 -115 385 -58 -22 Other private 1 70 -105 -112 17 -2 98 -69 -46 -71 Private nonguaranteed 0 10 -7 -5 -5 -2 168 268 318 268 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 10 -7 -5 -5 -2 168 268 318 268 Memo: IBRD 8 36 102 15 -46 -37 44 -15 147 -37 IDA 3 1 -1 -2 -2 -2 -2 -2 -2 -2 530 TUNISIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 18 228 394 507 479 496 502 489 428 498 Public and publicly guaranteed 18 212 384 499 469 488 492 479 419 461 Official creditors 8 74 249 370 339 328 330 295 261 288 Multilateral 2 28 149 267 246 228 245 213 179 223 Concessional 0 1 6 15 15 15 16 16 19 22 Bilateral 7 46 100 102 93 100 85 82 82 65 Concessional 6 29 73 69 64 60 56 53 53 51 Private creditors 10 138 136 129 130 159 162 184 158 173 Bonds 0 1 5 33 36 66 85 99 87 119 Commercial banks 0 69 35 23 37 36 30 39 33 22 Other private 10 68 96 73 57 57 48 46 38 32 Private nonguaranteed 0 16 10 8 9 8 10 10 9 38 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 16 10 8 9 8 10 10 9 38 Memo: IBRD 1 22 103 115 103 90 103 79 80 79 IDA 0 1 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 23 125 -250 -34 176 -666 27 -257 602 368 Public and publicly guaranteed 23 131 -233 -22 191 -656 -131 -515 293 138 Official creditors 32 177 93 -277 -267 -480 -191 -276 103 -246 Multilateral 10 33 113 -105 -238 -306 -100 -202 148 -107 Concessional 3 7 32 9 -15 -24 5 46 53 27 Bilateral 22 144 -20 -172 -29 -175 -91 -74 -46 -139 Concessional 23 127 -37 -145 -136 -132 4 33 27 -68 Private creditors -9 -46 -326 255 458 -175 60 -239 191 384 Bonds 0 -6 -65 105 550 -66 155 -470 366 531 Commercial banks 0 -43 -60 336 -52 -50 -145 346 -91 -44 Other private -9 3 -201 -185 -40 -59 50 -115 -85 -103 Private nonguaranteed 0 -6 -17 -13 -14 -10 158 258 309 230 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 -6 -17 -13 -14 -10 158 258 309 230 Memo: IBRD 7 14 -1 -101 -148 -127 -59 -94 67 -116 IDA 3 0 -2 -2 -2 -2 -2 -2 -2 -2 DEBT SERVICE (LTDS) 65 486 1,267 1,368 1,304 1,314 1,404 1,797 1,298 1,426 Public and publicly guaranteed 65 428 1,220 1,325 1,259 1,273 1,361 1,755 1,257 1,357 Official creditors 22 146 606 962 923 939 983 975 912 1,011 Multilateral 3 48 317 609 590 595 636 621 541 670 Concessional 0 1 13 37 39 51 44 47 56 61 Bilateral 19 98 289 353 333 344 347 355 371 341 Concessional 17 70 215 263 250 249 237 245 235 237 Private creditors 43 281 614 363 336 335 378 779 345 346 Bonds 0 6 65 33 36 66 85 470 87 119 Commercial banks 0 94 148 122 126 99 164 173 136 113 Other private 43 182 401 208 175 169 130 137 122 114 Private nonguaranteed 0 58 47 43 44 40 42 42 41 70 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 58 47 43 44 40 42 42 41 70 Memo: IBRD 3 37 214 303 275 268 269 229 226 233 IDA 0 1 2 2 2 2 2 2 2 2 UNDISBURSED DEBT 319 2,050 3,861 3,777 3,557 4,159 6,303 4,237 3,696 3,795 Official creditors 269 1,578 3,157 3,188 3,109 3,583 5,970 3,767 3,342 3,444 Private creditors 50 472 704 589 448 576 333 470 354 352 Memorandum items Concessional LDOD 333 1,386 2,782 2,836 2,539 2,497 2,584 2,591 2,595 2,877 Variable rate LDOD 0 680 1,560 2,650 2,523 2,565 3,170 3,018 3,449 4,142 Public sector LDOD 528 3,120 6,662 9,373 9,332 9,498 9,495 8,888 9,077 10,641 Private sector LDOD 13 270 218 193 186 183 772 800 1,118 1,386 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 24.9 25.2 Deutsche mark 8.7 10.8 11.0 5.9 6.1 6.2 6.1 5.6 .. .. French franc 23.4 21.1 13.6 11.7 9.9 10.2 11.0 10.7 .. .. Japanese yen 0.0 1.7 8.6 13.3 13.9 15.1 20.6 21.5 23.8 22.5 Pound sterling 0.8 0.2 0.1 0.0 0.0 0.0 0.5 0.5 0.4 0.4 Swiss franc 0.1 0.9 0.6 0.1 0.1 0.1 0.5 0.7 0.7 0.7 U.S.dollars 37.8 33.4 21.8 24.4 28.6 41.0 31.7 30.3 27.4 29.2 Multiple currency 5.5 8.4 22.7 23.0 21.3 7.5 6.3 5.8 4.9 3.9 Special drawing rights 0.0 0.0 0.3 0.1 0.1 0.2 0.2 0.2 0.2 0.2 All other currencies 23.7 23.6 21.3 21.4 20.0 19.8 23.1 24.7 17.6 18.0 531 TUNISIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 7 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total change in debt stocks .. .. 715 560 -150 -379 1,030 -1,251 247 1,748 Net flows on debt 42 267 292 692 568 -719 976 -437 771 783 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 .. .. -7 0 0 0 0 0 0 0 Cross-currency valuation .. .. 352 -514 -584 345 -148 -409 -470 729 Residual .. .. 79 382 -134 -5 201 -404 -54 237 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.5 6.2 6.9 4.7 5.1 4.0 2.8 4.0 3.6 5.2 Maturity (years) 27.8 18.4 14.3 15.6 17.7 19.2 18.2 17.3 17.6 13.6 Grace period (years) 6.4 5.4 3.8 5.6 9.8 5.4 5.2 8.7 6.4 7.1 Grant element (%) 48.1 26.6 18.0 30.5 31.7 38.2 44.3 39.2 36.9 28.8 Official creditors Interest (%) 2.7 5.0 6.0 4.9 3.9 3.3 1.9 4.6 3.8 3.2 Maturity (years) 32.6 21.2 18.0 19.7 18.4 19.6 19.3 16.7 20.4 16.7 Grace period (years) 7.7 6.5 5.0 5.5 5.0 5.6 4.6 5.5 3.4 4.3 Grant element (%) 57.4 35.4 25.9 34.5 38.0 43.3 49.3 34.5 38.5 39.8 Private creditors Interest (%) 6.3 9.6 8.1 4.3 6.6 6.2 7.1 3.5 3.3 7.0 Maturity (years) 11.0 10.7 9.4 9.0 16.8 17.6 12.6 17.8 12.3 10.8 Grace period (years) 1.9 2.4 2.1 5.7 15.7 4.5 8.7 11.6 11.9 9.6 Grant element (%) 15.1 2.8 7.3 24.0 24.0 21.3 18.2 43.4 33.8 18.7 Memorandum items Commitments 144 777 799 1,708 1,552 1,156 1,847 1,445 1,573 1,353 Official creditors 112 567 462 1,054 856 888 1,552 689 1,025 648 Private creditors 32 210 337 655 696 268 295 756 548 705 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 1,359 980 602 349 205 130 75 31 17 8 Principal 1,376 1,485 1,336 1,483 1,400 1,054 1,217 1,053 739 1,191 Interest 577 536 492 440 391 328 289 234 198 149 Official creditors Disbursements 1,143 885 571 342 203 130 75 31 17 8 Principal 877 855 870 872 849 796 741 728 584 513 Interest 285 272 255 232 205 178 153 129 104 85 Bilateral creditors Disbursements 451 301 170 91 50 27 9 4 2 1 Principal 388 338 325 313 293 266 235 214 160 144 Interest 83 77 71 66 58 50 44 38 33 29 Multilateral creditors Disbursements 693 584 401 251 153 102 65 27 15 7 Principal 489 516 544 559 556 531 506 513 424 369 Interest 201 195 184 167 147 128 109 91 71 56 Private creditors Disbursements 216 95 31 7 2 0 0 0 0 0 Principal 499 631 466 611 551 258 476 325 155 678 Interest 292 264 237 208 186 150 136 105 94 63 Commercial banks Disbursements 160 70 22 3 0 0 0 0 0 0 Principal 164 64 43 32 31 18 16 306 14 14 Interest 23 22 21 20 20 19 19 19 9 8 Other private Disbursements 56 25 9 4 2 0 0 0 0 0 Principal 334 567 423 579 520 240 460 19 141 664 Interest 269 242 216 188 166 131 117 86 86 55 532 TURKEY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2,746 19,131 49,424 79,829 84,785 97,143 102,242 117,431 113,437 131,556 Long-term debt (LDOD) 1,888 15,575 39,924 61,822 66,197 75,538 77,880 84,342 82,975 94,277 Public and publicly guaranteed 1,846 15,040 38,870 48,404 47,513 50,197 50,755 56,514 54,323 61,823 Private nonguaranteed 42 535 1,054 13,418 18,683 25,340 27,124 27,828 28,652 32,455 Use of IMF credit 74 1,054 0 662 594 388 891 4,176 14,117 22,086 Short-term debt 784 2,501 9,500 17,345 17,994 21,217 23,472 28,912 16,345 15,192 of which interest arrears on LDOD 0 11 0 0 0 0 0 0 0 0 Official creditors 0 11 0 0 0 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 23 0 0 0 0 0 0 0 0 Official creditors 0 21 0 0 0 0 0 0 0 0 Private creditors 0 1 0 0 0 0 0 0 0 0 Memo: export credits 0 0 11,519 12,131 13,932 5,876 5,351 5,474 5,098 4,924 TOTAL DEBT FLOWS Disbursements 407 3,115 5,243 7,974 10,595 11,572 21,476 26,682 24,288 35,337 Long-term debt 332 2,475 5,243 7,974 10,595 11,572 20,678 23,223 12,963 22,480 IMF purchases 75 640 0 0 0 0 797 3,459 11,324 12,857 Principal repayments 158 750 4,010 6,479 7,001 9,269 12,837 13,865 16,180 22,062 Long-term debt 131 595 3,961 6,479 6,974 9,046 12,550 13,778 15,076 15,695 IMF repurchases 27 155 49 0 28 223 287 87 1,105 6,366 Net flows on debt 249 1,259 4,988 3,138 4,243 5,525 10,894 18,256 -4,460 12,123 of which short-term debt 0 -1,106 3,755 1,644 649 3,223 2,255 5,440 -12,567 -1,153 Interest payments (INT) 44 857 3,412 4,433 4,912 5,682 5,792 6,868 6,187 5,543 Long-term debt 44 507 2,891 3,389 3,850 4,530 4,534 5,016 5,167 4,280 IMF charges 0 51 4 30 29 25 11 52 432 813 Short-term debt 0 299 517 1,014 1,033 1,127 1,247 1,800 588 450 Net transfers on debt 204 401 1,576 -1,294 -669 -157 5,102 11,388 -10,647 6,580 Total debt service paid (TDS) 203 1,607 7,422 10,912 11,914 14,952 18,629 20,733 22,367 27,604 Long-term debt 176 1,102 6,852 9,869 10,824 13,576 17,083 18,794 20,243 19,975 IMF repurchases and charges 27 206 53 30 57 248 299 139 1,536 7,179 Short-term debt (interest only) 0 299 517 1,014 1,033 1,127 1,247 1,800 588 450 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 300 2,083 2,859 2,682 4,492 3,020 9,459 11,003 1,201 8,182 Net flow of long-term debt (ex. IMF) 201 1,880 1,282 1,494 3,622 2,526 8,129 9,445 -2,113 6,785 Foreign direct investment (net) 58 18 684 722 805 940 783 982 3,266 1,037 Portfolio equity flows 0 0 89 191 8 -518 428 489 -79 -16 Grants (excluding technical coop.) 41 185 804 274 58 72 119 87 126 376 Memo: technical coop. grants 14 38 148 212 177 129 130 85 89 96 official net resource flows 257 1,423 1,023 -569 -76 -63 -533 1,155 306 600 private net resource flows 43 660 1,836 3,251 4,568 3,083 9,992 9,848 894 7,582 NET TRANSFERS 256 1,545 -193 -915 439 -1,838 4,612 5,708 -4,275 3,523 Interest on long-term debt 44 507 2,891 3,389 3,850 4,530 4,534 5,016 5,167 4,280 Profit remittances on FDI 0 31 161 207 203 328 313 279 309 379 Memo: official net transfers 220 1,212 -20 -1,400 -775 -871 -1,227 476 -408 21 private net transfers 36 333 -173 485 1,214 -967 5,840 5,232 -3,867 3,502 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 18,071 71,885 152,220 183,575 192,821 204,522 185,884 200,887 143,674 181,052 Exports of goods, serv. & inc. (XGS) .. 5,743 25,205 50,616 58,117 62,378 52,602 58,546 55,971 59,042 Worker remit. & comp. of employees 0 2,071 3,246 3,542 4,197 5,356 4,529 4,560 2,786 1,936 Imports of goods & services (MGS) .. 9,251 29,077 53,958 61,424 60,765 54,592 69,030 53,598 62,084 International reserves (RES) 440 3,298 7,626 17,819 19,746 20,568 24,433 23,515 19,911 28,348 Current account balance .. -3,408 -2,625 -2,437 -2,638 1,984 -1,344 -9,819 3,390 -1,482 4. DEBT INDICATORS EDT / XGS (%) .. 333.1 196.1 157.7 145.9 155.7 194.4 200.6 202.7 222.8 EDT / GNI (%) 15.2 26.6 32.5 43.5 44.0 47.5 55.0 58.5 79.0 72.7 TDS / XGS (%) .. 28.0 29.4 21.6 20.5 24.0 35.4 35.4 40.0 46.8 INT / XGS (%) .. 14.9 13.5 8.8 8.5 9.1 11.0 11.7 11.1 9.4 INT / GNI (%) 0.2 1.2 2.2 2.4 2.5 2.8 3.1 3.4 4.3 3.1 RES / EDT (%) 16.0 17.2 15.4 22.3 23.3 21.2 23.9 20.0 17.6 21.5 RES / MGS (months) .. 4.3 3.1 4.0 3.9 4.1 5.4 4.1 4.5 5.5 Short-term / EDT (%) 28.5 13.1 19.2 21.7 21.2 21.8 23.0 24.6 14.4 11.5 Concessional / EDT (%) 52.4 20.4 15.1 8.2 6.7 6.0 5.4 4.3 3.7 3.5 Multilateral / EDT (%) 13.9 11.2 19.5 9.7 7.8 6.7 5.3 4.8 5.4 5.1 533 TURKEY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1,888 15,575 39,924 61,822 66,197 75,538 77,880 84,342 82,975 94,277 Public and publicly guaranteed 1,846 15,040 38,870 48,404 47,513 50,197 50,755 56,514 54,323 61,823 Official creditors 1,766 9,636 18,150 15,190 13,738 14,581 12,931 13,240 12,827 13,827 Multilateral 383 2,149 9,627 7,708 6,606 6,469 5,434 5,672 6,078 6,755 Concessional 110 242 825 855 691 604 529 468 271 257 Bilateral 1,383 7,487 8,523 7,482 7,132 8,112 7,497 7,568 6,749 7,072 Concessional 1,328 3,661 6,625 5,718 4,991 5,266 5,022 4,598 3,954 4,385 Private creditors 81 5,405 20,720 33,214 33,775 35,616 37,824 43,274 41,495 47,996 Bonds 20 64 4,976 14,185 15,075 14,978 17,766 21,993 20,800 23,312 Commercial banks 8 4,112 13,403 15,558 15,321 17,386 17,397 19,447 19,147 23,287 Other private 53 1,229 2,341 3,470 3,379 3,252 2,662 1,834 1,549 1,397 Private nonguaranteed 42 535 1,054 13,418 18,683 25,340 27,124 27,828 28,652 32,455 Bonds 0 0 16 174 124 794 1,338 1,784 1,652 1,882 Commercial banks and other 42 535 1,038 13,244 18,559 24,546 25,786 26,044 27,000 30,572 Memo: IBRD 53 1,158 6,272 4,260 3,587 3,446 2,902 3,634 4,707 5,367 IDA 83 189 157 124 118 112 107 101 95 89 DISBURSEMENTS 332 2,475 5,243 7,974 10,595 11,572 20,678 23,223 12,963 22,480 Public and publicly guaranteed 331 2,400 4,700 5,928 8,231 6,597 9,605 14,342 6,725 7,630 Official creditors 310 1,618 2,138 1,144 1,806 1,698 976 2,839 2,246 1,792 Multilateral 125 476 1,083 634 539 426 447 1,505 1,793 1,161 Concessional 7 10 12 2 44 3 8 1 11 0 Bilateral 185 1,142 1,056 510 1,268 1,272 529 1,334 453 631 Concessional 177 801 900 241 379 278 237 437 148 370 Private creditors 21 782 2,561 4,784 6,425 4,899 8,629 11,503 4,479 5,837 Bonds 0 0 644 2,921 3,711 2,330 5,230 7,114 2,138 3,309 Commercial banks 0 600 1,435 1,300 1,960 2,159 3,232 4,284 2,171 2,396 Other private 21 182 483 563 755 410 167 105 170 132 Private nonguaranteed 1 75 543 2,046 2,364 4,975 11,074 8,881 6,238 14,851 Bonds 0 0 0 25 0 670 552 454 0 200 Commercial banks and other 1 75 543 2,021 2,364 4,305 10,522 8,427 6,238 14,651 Memo: IBRD 17 313 627 489 266 271 377 1,291 1,537 1,031 IDA 7 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 131 595 3,961 6,479 6,974 9,046 12,550 13,778 15,076 15,695 Public and publicly guaranteed 128 566 3,677 5,457 5,737 7,341 5,551 6,302 7,696 6,484 Official creditors 95 379 1,920 1,987 1,940 1,833 1,628 1,771 2,066 1,568 Multilateral 70 66 825 1,259 1,124 983 953 1,044 1,301 676 Concessional 22 1 23 197 139 125 70 32 182 25 Bilateral 24 314 1,094 728 816 850 675 728 765 892 Concessional 18 77 364 435 531 391 406 442 407 412 Private creditors 34 186 1,758 3,470 3,797 5,509 3,923 4,531 5,630 4,916 Bonds 0 1 47 1,368 1,685 3,201 2,019 1,869 2,507 2,553 Commercial banks 1 154 1,204 1,454 1,459 1,666 1,251 1,814 2,621 2,005 Other private 32 31 508 648 652 641 653 848 503 357 Private nonguaranteed 3 29 283 1,022 1,237 1,705 6,998 7,476 7,379 9,211 Bonds 0 0 0 0 50 0 0 0 124 0 Commercial banks and other 3 29 283 1,022 1,187 1,705 6,998 7,476 7,255 9,211 Memo: IBRD 3 45 620 815 726 678 610 486 432 437 IDA 0 1 4 6 6 6 6 6 6 6 NET FLOWS ON DEBT 201 1,880 1,282 1,494 3,622 2,526 8,129 9,445 -2,113 6,785 Public and publicly guaranteed 203 1,834 1,022 470 2,495 -744 4,053 8,040 -971 1,146 Official creditors 216 1,238 219 -844 -134 -135 -652 1,068 180 224 Multilateral 55 410 258 -625 -586 -557 -506 461 491 485 Concessional -15 9 -11 -195 -96 -122 -63 -31 -171 -25 Bilateral 160 828 -39 -219 452 422 -146 606 -311 -261 Concessional 158 724 535 -194 -152 -113 -170 -5 -259 -42 Private creditors -13 596 804 1,314 2,628 -609 4,705 6,972 -1,151 922 Bonds 0 -1 597 1,553 2,025 -871 3,210 5,245 -369 755 Commercial banks -1 446 231 -154 501 493 1,981 2,470 -449 391 Other private -11 151 -25 -85 102 -231 -486 -743 -333 -225 Private nonguaranteed -2 46 260 1,024 1,127 3,270 4,075 1,405 -1,141 5,639 Bonds 0 0 0 25 -50 670 552 454 -124 200 Commercial banks and other -2 46 260 999 1,177 2,600 3,523 951 -1,017 5,439 Memo: IBRD 15 267 6 -326 -461 -408 -233 806 1,106 594 IDA 7 -1 -4 -6 -6 -6 -6 -6 -6 -6 534 TURKEY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 44 507 2,891 3,389 3,850 4,530 4,534 5,016 5,167 4,280 Public and publicly guaranteed 42 487 2,830 2,918 2,967 3,211 2,990 3,482 3,850 3,648 Official creditors 37 211 1,043 830 699 808 694 679 714 579 Multilateral 11 127 688 561 466 519 407 373 413 338 Concessional 2 4 30 36 24 22 14 13 11 9 Bilateral 26 84 355 270 233 290 288 306 301 242 Concessional 25 33 172 172 154 139 142 137 113 106 Private creditors 5 276 1,787 2,088 2,268 2,403 2,295 2,803 3,136 3,069 Bonds 1 4 383 1,009 993 1,173 1,141 1,598 1,847 1,929 Commercial banks 1 250 1,204 780 1,052 1,000 955 1,069 1,168 1,055 Other private 3 21 200 300 223 230 199 136 122 85 Private nonguaranteed 2 20 61 471 883 1,319 1,544 1,533 1,317 632 Bonds 0 0 1 12 13 12 86 126 195 183 Commercial banks and other 2 20 60 459 870 1,307 1,458 1,407 1,122 450 Memo: IBRD 3 88 511 339 273 245 243 237 291 271 IDA 1 1 1 1 1 1 1 1 1 1 NET TRANSFERS ON DEBT 156 1,373 -1,609 -1,895 -228 -2,004 3,595 4,429 -7,279 2,505 Public and publicly guaranteed 161 1,347 -1,808 -2,448 -472 -3,956 1,063 4,557 -4,821 -2,502 Official creditors 178 1,027 -824 -1,674 -832 -943 -1,347 389 -534 -355 Multilateral 44 283 -431 -1,185 -1,052 -1,075 -912 88 78 148 Concessional -17 5 -41 -230 -120 -143 -77 -44 -183 -33 Bilateral 134 744 -394 -488 220 132 -434 300 -612 -503 Concessional 134 691 363 -366 -305 -252 -311 -142 -372 -148 Private creditors -18 320 -983 -774 360 -3,013 2,410 4,169 -4,287 -2,147 Bonds -1 -5 214 544 1,033 -2,044 2,069 3,647 -2,215 -1,173 Commercial banks -2 196 -973 -934 -551 -507 1,025 1,401 -1,617 -664 Other private -15 130 -225 -385 -121 -461 -685 -879 -455 -310 Private nonguaranteed -5 26 199 553 244 1,951 2,532 -129 -2,458 5,007 Bonds 0 0 -1 13 -63 658 466 328 -319 17 Commercial banks and other -5 26 200 540 307 1,293 2,065 -456 -2,139 4,990 Memo: IBRD 12 179 -505 -665 -733 -653 -476 569 815 323 IDA 7 -2 -5 -7 -7 -7 -7 -7 -7 -7 DEBT SERVICE (LTDS) 176 1,102 6,852 9,869 10,824 13,576 17,083 18,794 20,243 19,975 Public and publicly guaranteed 170 1,053 6,507 8,375 8,703 10,553 8,541 9,785 11,546 10,132 Official creditors 132 591 2,963 2,818 2,639 2,641 2,323 2,450 2,780 2,147 Multilateral 81 193 1,514 1,820 1,591 1,501 1,360 1,417 1,714 1,013 Concessional 24 5 53 232 163 147 84 45 194 33 Bilateral 51 398 1,449 998 1,048 1,139 963 1,033 1,066 1,134 Concessional 43 110 537 607 685 530 548 579 520 518 Private creditors 38 462 3,545 5,558 6,065 7,912 6,219 7,335 8,766 7,984 Bonds 1 5 430 2,377 2,678 4,375 3,160 3,467 4,353 4,482 Commercial banks 2 405 2,408 2,233 2,511 2,666 2,206 2,884 3,789 3,060 Other private 35 52 707 948 876 871 852 984 624 443 Private nonguaranteed 6 49 344 1,493 2,120 3,024 8,542 9,009 8,696 9,844 Bonds 0 0 1 12 63 12 86 126 319 183 Commercial banks and other 6 49 343 1,481 2,057 3,012 8,456 8,883 8,377 9,661 Memo: IBRD 6 133 1,132 1,154 999 924 853 723 723 708 IDA 1 3 5 7 7 7 7 7 7 7 UNDISBURSED DEBT 857 3,706 8,563 7,824 6,939 8,268 11,455 10,280 8,686 9,444 Official creditors 753 2,938 4,823 4,319 3,344 3,337 6,145 5,003 4,890 5,618 Private creditors 104 768 3,740 3,505 3,596 4,931 5,310 5,277 3,796 3,826 Memorandum items Concessional LDOD 1,438 3,903 7,450 6,573 5,682 5,870 5,551 5,066 4,225 4,642 Variable rate LDOD 58 4,122 13,577 24,857 30,253 36,119 36,772 40,716 41,770 46,737 Public sector LDOD 1,839 14,956 38,570 48,298 47,455 50,154 50,728 56,497 54,319 61,822 Private sector LDOD 49 620 1,354 13,524 18,741 25,384 27,151 27,846 28,656 32,455 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 25.6 25.0 Deutsche mark 17.6 17.0 17.4 16.7 21.3 22.8 19.2 14.4 .. .. French franc 3.2 5.6 1.6 1.6 1.5 1.3 1.2 1.0 .. .. Japanese yen 0.0 4.0 12.1 21.9 18.6 15.7 14.8 12.7 9.4 8.4 Pound sterling 6.0 3.8 0.8 1.0 0.9 1.0 0.9 0.8 0.7 0.6 Swiss franc 1.6 8.6 5.2 2.0 1.6 1.1 0.7 0.3 0.2 0.3 U.S.dollars 49.3 43.5 40.0 41.6 49.2 51.5 51.7 57.3 63.1 64.9 Multiple currency 9.1 8.1 18.9 12.1 3.5 3.1 2.5 1.9 0.7 0.6 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 13.2 9.4 4.0 3.0 3.5 3.5 9.0 11.6 0.2 0.2 535 TURKEY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total change in debt stocks .. .. 7,847 6,048 4,956 12,358 5,099 15,189 -3,994 18,119 Net flows on debt 249 1,259 4,988 3,138 4,243 5,525 10,894 18,256 -4,460 12,123 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 .. .. 1,874 -2,825 -2,899 2,091 -1,158 -2,016 -1,847 4,338 Residual .. .. 985 5,735 3,612 4,741 -4,637 -1,052 2,313 1,658 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.6 8.3 8.4 6.5 7.5 6.2 7.8 8.3 6.6 6.4 Maturity (years) 19.0 16.4 10.2 8.7 8.0 7.6 10.0 11.4 9.3 9.0 Grace period (years) 4.8 5.1 4.6 4.2 5.0 4.0 4.4 7.7 4.1 5.0 Grant element (%) 37.5 17.4 9.2 16.2 9.8 14.2 10.7 4.7 17.4 15.4 Official creditors Interest (%) 3.4 7.1 6.7 4.9 6.7 7.1 5.2 7.4 4.4 3.0 Maturity (years) 19.6 18.3 17.0 16.5 11.2 12.1 15.0 14.1 14.0 13.9 Grace period (years) 4.9 5.7 7.3 4.9 4.2 4.2 3.9 4.9 4.9 5.0 Grant element (%) 39.1 22.9 23.4 31.4 16.0 15.6 27.8 13.8 30.9 37.4 Private creditors Interest (%) 5.5 14.4 9.4 7.2 7.6 6.0 9.0 8.5 8.4 7.9 Maturity (years) 13.7 7.5 6.5 5.3 7.4 6.3 7.8 10.8 5.4 6.9 Grace period (years) 3.1 1.9 3.2 3.9 5.1 4.0 4.6 8.3 3.5 5.0 Grant element (%) 22.7 -9.6 1.5 9.7 8.6 13.8 3.1 2.7 6.1 6.2 Memorandum items Commitments 489 2,925 4,628 6,595 7,899 7,307 11,909 14,194 6,251 8,084 Official creditors 440 2,426 1,624 1,995 1,228 1,660 3,648 2,482 2,839 2,387 Private creditors 49 499 3,004 4,600 6,671 5,647 8,260 11,711 3,411 5,697 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 4,309 2,640 1,136 550 283 145 88 51 33 23 Principal 16,745 16,920 12,765 8,761 7,532 4,789 4,816 5,121 1,918 2,668 Interest 5,471 4,973 4,003 3,231 2,752 2,284 1,930 1,561 1,288 1,152 Official creditors Disbursements 1,823 1,635 872 527 283 145 88 51 33 23 Principal 2,148 1,544 1,699 1,758 1,694 1,364 1,450 1,177 1,052 957 Interest 507 457 440 396 349 303 261 204 170 139 Bilateral creditors Disbursements 519 362 198 101 49 18 8 0 0 0 Principal 1,419 811 732 615 584 532 655 414 329 294 Interest 234 185 169 150 133 117 102 72 62 54 Multilateral creditors Disbursements 1,304 1,273 674 426 233 126 79 51 33 23 Principal 730 733 967 1,143 1,110 832 795 763 724 663 Interest 274 272 270 246 216 186 158 132 107 85 Private creditors Disbursements 2,486 1,005 264 23 0 0 0 0 0 0 Principal 14,597 15,376 11,066 7,003 5,838 3,425 3,366 3,944 865 1,711 Interest 4,964 4,515 3,563 2,835 2,402 1,981 1,669 1,357 1,118 1,013 Commercial banks Disbursements 2,287 939 251 22 0 0 0 0 0 0 Principal 3,061 1,921 1,825 1,606 1,247 705 577 497 391 305 Interest 1,035 957 911 851 790 755 731 708 689 672 Other private Disbursements 106 34 13 1 0 0 0 0 0 0 Principal 11,536 13,456 9,241 5,397 4,590 2,720 2,789 3,447 474 1,407 Interest 3,929 3,559 2,652 1,984 1,612 1,226 938 648 430 341 536 TURKMENISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 751 1,771 2,259 .. .. .. .. Long-term debt (LDOD) .. .. .. 464 1,242 1,748 .. .. .. .. Public and publicly guaranteed .. .. .. 464 1,242 1,731 .. .. .. .. Private nonguaranteed .. .. .. 0 0 16 .. .. .. .. Use of IMF credit .. .. .. 0 0 0 0 0 0 0 Short-term debt .. .. .. 287 529 511 312 234 388 350 of which interest arrears on LDOD .. .. .. 14 9 9 .. .. .. .. Official creditors .. .. .. 7 3 4 .. .. .. .. Private creditors .. .. .. 7 6 5 .. .. .. .. Memo: principal arrears on LDOD .. .. .. 50 73 115 .. .. .. .. Official creditors .. .. .. 29 37 54 .. .. .. .. Private creditors .. .. .. 22 36 61 .. .. .. .. Memo: export credits .. .. .. 259 483 236 530 694 877 672 TOTAL DEBT FLOWS Disbursements .. .. .. 240 986 685 .. .. .. .. Long-term debt .. .. .. 240 986 685 .. .. .. .. IMF purchases .. .. .. 0 0 0 .. .. .. .. Principal repayments .. .. .. 154 196 219 .. .. .. .. Long-term debt .. .. .. 154 196 219 .. .. .. .. IMF repurchases .. .. .. 0 0 0 .. .. .. .. Net flows on debt .. .. .. 350 1,039 449 .. .. .. .. of which short-term debt .. .. .. 264 248 -18 .. .. .. .. Interest payments (INT) .. .. .. 39 68 92 .. .. .. .. Long-term debt .. .. .. 27 46 66 .. .. .. .. IMF charges .. .. .. 0 0 0 .. .. .. .. Short-term debt .. .. .. 12 22 26 .. .. .. .. Net transfers on debt .. .. .. 311 971 357 .. .. .. .. Total debt service paid (TDS) .. .. .. 193 263 311 .. .. .. .. Long-term debt .. .. .. 180 242 285 .. .. .. .. IMF repurchases and charges .. .. .. 0 0 0 .. .. .. .. Short-term debt (interest only) .. .. .. 12 22 26 .. .. .. .. 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 196 903 535 .. .. .. .. Net flow of long-term debt (ex. IMF) .. .. .. 86 791 466 .. .. .. .. Foreign direct investment (net) .. .. .. 108 108 62 .. .. .. .. Portfolio equity flows .. .. .. 0 0 0 .. .. .. .. Grants (excluding technical coop.) .. .. .. 1 5 7 .. .. .. .. Memo: technical coop. grants .. .. .. 11 8 17 .. .. .. .. official net resource flows .. .. .. -78 33 130 .. .. .. .. private net resource flows .. .. .. 274 870 405 .. .. .. .. NET TRANSFERS .. .. .. 124 850 445 .. .. .. .. Interest on long-term debt .. .. .. 27 46 66 .. .. .. .. Profit remittances on FDI .. .. .. 45 7 24 .. .. .. .. Memo: official net transfers .. .. .. -88 24 123 .. .. .. .. private net transfers .. .. .. 212 826 322 .. .. .. .. 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 2,396 2,766 2,894 .. .. .. .. Exports of goods, serv. & inc. (XGS) .. .. .. 1,902 1,203 978 .. .. .. .. Worker remit. & comp. of employees .. .. .. 0 0 0 .. .. .. .. Imports of goods & services (MGS) .. .. .. 1,905 1,752 1,939 .. .. .. .. International reserves (RES) .. .. .. 1,169 1,256 1,376 .. .. .. .. Current account balance .. .. .. 2 -580 -934 .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 39.5 147.3 231.0 .. .. .. .. EDT / GNI (%) .. .. .. 31.3 64.0 78.0 .. .. .. .. TDS / XGS (%) .. .. .. 10.1 21.9 31.8 .. .. .. .. INT / XGS (%) .. .. .. 2.0 5.6 9.4 .. .. .. .. INT / GNI (%) .. .. .. 1.6 2.4 3.2 .. .. .. .. RES / EDT (%) .. .. .. 155.7 70.9 60.9 .. .. .. .. RES / MGS (months) .. .. .. 7.4 8.6 8.5 .. .. .. .. Short-term / EDT (%) .. .. .. 38.2 29.9 22.6 .. .. .. .. Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 .. .. .. .. Multilateral / EDT (%) .. .. .. 0.4 1.1 1.6 .. .. .. .. 537 TURKMENISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 464 1,242 1,748 .. .. .. .. Public and publicly guaranteed .. .. .. 464 1,242 1,731 .. .. .. .. Official creditors .. .. .. 136 160 285 .. .. .. .. Multilateral .. .. .. 3 19 37 .. .. .. .. Concessional .. .. .. 0 0 0 .. .. .. .. Bilateral .. .. .. 132 141 247 .. .. .. .. Concessional .. .. .. 20 38 118 .. .. .. .. Private creditors .. .. .. 328 1,083 1,446 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks .. .. .. 0 89 59 .. .. .. .. Other private .. .. .. 328 994 1,387 .. .. .. .. Private nonguaranteed .. .. .. 0 0 16 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks and other .. .. .. 0 0 16 .. .. .. .. Memo: IBRD .. .. .. 3 6 9 9 28 30 31 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 240 986 685 .. .. .. .. Public and publicly guaranteed .. .. .. 240 986 685 .. .. .. .. Official creditors .. .. .. 22 57 133 .. .. .. .. Multilateral .. .. .. 3 16 18 .. .. .. .. Concessional .. .. .. 0 0 0 .. .. .. .. Bilateral .. .. .. 20 41 115 .. .. .. .. Concessional .. .. .. 0 20 70 .. .. .. .. Private creditors .. .. .. 217 930 553 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks .. .. .. 0 130 0 .. .. .. .. Other private .. .. .. 217 800 553 .. .. .. .. Private nonguaranteed .. .. .. 0 0 0 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks and other .. .. .. 0 0 0 .. .. .. .. Memo: IBRD .. .. .. 3 3 2 0 20 3 2 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 154 196 219 .. .. .. .. Public and publicly guaranteed .. .. .. 154 196 216 .. .. .. .. Official creditors .. .. .. 102 28 9 .. .. .. .. Multilateral .. .. .. 55 0 0 .. .. .. .. Concessional .. .. .. 0 0 0 .. .. .. .. Bilateral .. .. .. 46 28 9 .. .. .. .. Concessional .. .. .. 0 0 0 .. .. .. .. Private creditors .. .. .. 52 167 206 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks .. .. .. 0 41 30 .. .. .. .. Other private .. .. .. 52 127 177 .. .. .. .. Private nonguaranteed .. .. .. 0 0 3 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks and other .. .. .. 0 0 3 .. .. .. .. Memo: IBRD .. .. .. 0 0 0 0 1 1 2 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 86 791 466 .. .. .. .. Public and publicly guaranteed .. .. .. 86 791 469 .. .. .. .. Official creditors .. .. .. -79 28 123 .. .. .. .. Multilateral .. .. .. -53 16 18 .. .. .. .. Concessional .. .. .. 0 0 0 .. .. .. .. Bilateral .. .. .. -27 12 105 .. .. .. .. Concessional .. .. .. 0 20 70 .. .. .. .. Private creditors .. .. .. 165 762 346 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks .. .. .. 0 89 -30 .. .. .. .. Other private .. .. .. 165 673 376 .. .. .. .. Private nonguaranteed .. .. .. 0 0 -3 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks and other .. .. .. 0 0 -3 .. .. .. .. Memo: IBRD .. .. .. 3 3 2 0 20 2 1 IDA .. .. .. 0 0 0 0 0 0 0 538 TURKMENISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 27 46 66 .. .. .. .. Public and publicly guaranteed .. .. .. 27 46 66 .. .. .. .. Official creditors .. .. .. 10 9 7 .. .. .. .. Multilateral .. .. .. 4 1 2 .. .. .. .. Concessional .. .. .. 0 0 0 .. .. .. .. Bilateral .. .. .. 6 7 5 .. .. .. .. Concessional .. .. .. 0 1 2 .. .. .. .. Private creditors .. .. .. 17 37 59 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks .. .. .. 0 2 5 .. .. .. .. Other private .. .. .. 17 35 54 .. .. .. .. Private nonguaranteed .. .. .. 0 0 1 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks and other .. .. .. 0 0 1 .. .. .. .. Memo: IBRD .. .. .. 0 0 0 1 1 2 1 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 59 745 400 .. .. .. .. Public and publicly guaranteed .. .. .. 59 745 404 .. .. .. .. Official creditors .. .. .. -89 20 116 .. .. .. .. Multilateral .. .. .. -56 15 16 .. .. .. .. Concessional .. .. .. 0 0 0 .. .. .. .. Bilateral .. .. .. -33 5 100 .. .. .. .. Concessional .. .. .. 0 19 68 .. .. .. .. Private creditors .. .. .. 149 725 288 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks .. .. .. 0 87 -34 .. .. .. .. Other private .. .. .. 149 638 322 .. .. .. .. Private nonguaranteed .. .. .. 0 0 -4 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks and other .. .. .. 0 0 -4 .. .. .. .. Memo: IBRD .. .. .. 2 3 2 -1 18 1 0 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 180 242 285 .. .. .. .. Public and publicly guaranteed .. .. .. 180 242 281 .. .. .. .. Official creditors .. .. .. 112 37 16 .. .. .. .. Multilateral .. .. .. 59 1 2 .. .. .. .. Concessional .. .. .. 0 0 0 .. .. .. .. Bilateral .. .. .. 53 36 15 .. .. .. .. Concessional .. .. .. 0 1 2 .. .. .. .. Private creditors .. .. .. 69 205 265 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks .. .. .. 0 43 34 .. .. .. .. Other private .. .. .. 69 162 231 .. .. .. .. Private nonguaranteed .. .. .. 0 0 4 .. .. .. .. Bonds .. .. .. 0 0 0 .. .. .. .. Commercial banks and other .. .. .. 0 0 4 .. .. .. .. Memo: IBRD .. .. .. 0 0 0 1 2 2 3 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 756 1,038 597 .. .. .. .. Official creditors .. .. .. 218 423 312 .. .. .. .. Private creditors .. .. .. 538 615 285 .. .. .. .. Memorandum items Concessional LDOD .. .. .. 20 38 118 .. .. .. .. Variable rate LDOD .. .. .. 284 937 1,386 .. .. .. .. Public sector LDOD .. .. .. 464 1,242 1,731 .. .. .. .. Private sector LDOD .. .. .. 0 0 16 .. .. .. .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. .. .. Deutsche mark .. .. .. 14.4 9.9 14.4 .. .. .. .. French franc .. .. .. 0.0 0.0 0.0 .. .. .. .. Japanese yen .. .. .. 0.0 1.1 5.9 .. .. .. .. Pound sterling .. .. .. 0.0 0.0 0.0 .. .. .. .. Swiss franc .. .. .. 0.0 0.0 0.0 .. .. .. .. U.S.dollars .. .. .. 84.7 88.3 79.2 .. .. .. .. Multiple currency .. .. .. 0.7 0.7 0.5 .. .. .. .. Special drawing rights .. .. .. 0.0 0.0 0.0 .. .. .. .. All other currencies .. .. .. 0.3 0.1 0.0 .. .. .. .. 539 TURKMENISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 .. .. .. .. Debt stock rescheduled .. .. .. 0 0 0 .. .. .. .. Principal rescheduled .. .. .. 0 0 0 .. .. .. .. Official .. .. .. 0 0 0 .. .. .. .. Private .. .. .. 0 0 0 .. .. .. .. Interest rescheduled .. .. .. 0 0 0 .. .. .. .. Official .. .. .. 0 0 0 .. .. .. .. Private .. .. .. 0 0 0 .. .. .. .. Debt forgiven .. .. .. 0 0 0 .. .. .. .. Memo: interest forgiven .. .. .. 0 0 0 .. .. .. .. Debt stock reduction .. .. .. 0 0 0 .. .. .. .. of which debt buyback .. .. .. 0 0 0 .. .. .. .. 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 0 349 1,020 488 .. .. .. .. Net flows on debt .. .. .. 350 1,039 449 .. .. .. .. Net change in interest arrears .. .. 0 5 -6 0 .. .. .. .. Interest capitalized .. .. .. 0 0 0 .. .. .. .. Debt forgiveness or reduction .. .. 0 0 0 0 .. .. .. .. Cross-currency valuation .. .. 0 -7 -9 11 .. .. .. .. Residual .. .. 0 0 -3 28 .. .. .. .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 5.9 5.8 6.7 .. .. .. .. Maturity (years) .. .. .. 9.6 7.6 5.6 .. .. .. .. Grace period (years) .. .. .. 2.8 2.2 2.1 .. .. .. .. Grant element (%) .. .. .. 16.7 13.8 9.7 .. .. .. .. Official creditors Interest (%) .. .. .. 3.8 4.3 0.0 .. .. .. .. Maturity (years) .. .. .. 11.8 15.7 0.0 .. .. .. .. Grace period (years) .. .. .. 3.4 4.4 0.0 .. .. .. .. Grant element (%) .. .. .. 31.3 32.1 0.0 .. .. .. .. Private creditors Interest (%) .. .. .. 6.5 6.3 6.7 .. .. .. .. Maturity (years) .. .. .. 9.0 5.4 5.6 .. .. .. .. Grace period (years) .. .. .. 2.6 1.5 2.1 .. .. .. .. Grant element (%) .. .. .. 12.9 8.7 9.7 .. .. .. .. Memorandum items Commitments .. .. .. 753 1,324 218 .. .. .. .. Official creditors .. .. .. 156 286 0 .. .. .. .. Private creditors .. .. .. 598 1,039 218 .. .. .. .. 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements .. .. .. .. .. .. .. .. .. .. Principal .. .. .. .. .. .. .. .. .. .. Interest .. .. .. .. .. .. .. .. .. .. Official creditors Disbursements .. .. .. .. .. .. .. .. .. .. Principal .. .. .. .. .. .. .. .. .. .. Interest .. .. .. .. .. .. .. .. .. .. Bilateral creditors Disbursements .. .. .. .. .. .. .. .. .. .. Principal .. .. .. .. .. .. .. .. .. .. Interest .. .. .. .. .. .. .. .. .. .. Multilateral creditors Disbursements .. .. .. .. .. .. .. .. .. .. Principal .. .. .. .. .. .. .. .. .. .. Interest .. .. .. .. .. .. .. .. .. .. Private creditors Disbursements .. .. .. .. .. .. .. .. .. .. Principal .. .. .. .. .. .. .. .. .. .. Interest .. .. .. .. .. .. .. .. .. .. Commercial banks Disbursements .. .. .. .. .. .. .. .. .. .. Principal .. .. .. .. .. .. .. .. .. .. Interest .. .. .. .. .. .. .. .. .. .. Other private Disbursements .. .. .. .. .. .. .. .. .. .. Principal .. .. .. .. .. .. .. .. .. .. Interest .. .. .. .. .. .. .. .. .. .. 540 UGANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 152 687 2,582 3,677 3,878 3,912 3,492 3,503 3,742 4,100 Long-term debt (LDOD) 152 535 2,160 3,154 3,370 3,379 2,989 3,057 3,315 3,690 Public and publicly guaranteed 152 535 2,160 3,154 3,370 3,379 2,989 3,057 3,315 3,690 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 89 282 417 394 398 372 316 275 257 Short-term debt 0 63 140 106 114 134 132 130 152 153 of which interest arrears on LDOD 0 19 83 49 46 63 55 58 79 81 Official creditors 0 10 32 41 38 54 53 56 77 79 Private creditors 0 9 51 8 8 9 2 2 2 2 Memo: principal arrears on LDOD 0 82 215 206 216 216 110 125 194 228 Official creditors 0 30 93 141 149 161 94 109 167 200 Private creditors 0 52 122 66 67 55 16 16 27 28 Memo: export credits 0 0 270 134 129 102 58 72 65 31 TOTAL DEBT FLOWS Disbursements 26 161 372 288 350 224 209 230 355 172 Long-term debt 26 83 293 225 291 174 174 219 344 170 IMF purchases 0 78 79 64 60 50 35 12 11 2 Principal repayments 5 45 109 105 117 121 97 48 32 50 Long-term debt 5 32 65 55 60 67 61 27 18 31 IMF repurchases 0 13 43 50 58 54 36 21 15 19 Net flows on debt 22 130 269 206 244 106 118 176 324 122 of which short-term debt 0 14 6 23 11 3 6 -6 1 0 Interest payments (INT) 5 12 36 43 44 32 34 27 18 29 Long-term debt 5 3 18 38 38 26 28 21 12 26 IMF charges 0 3 13 2 2 2 2 2 1 1 Short-term debt 0 5 5 3 4 4 4 4 4 2 Net transfers on debt 17 118 233 163 201 74 84 150 306 93 Total debt service paid (TDS) 9 57 145 148 161 153 131 75 50 79 Long-term debt 9 36 84 93 98 93 89 48 30 57 IMF repurchases and charges 0 16 56 52 60 56 38 23 16 20 Short-term debt (interest only) 0 5 5 3 4 4 4 4 4 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 27 112 485 626 748 675 633 880 844 681 Net flow of long-term debt (ex. IMF) 22 51 227 169 231 107 113 192 326 139 Foreign direct investment (net) 4 0 0 121 175 210 140 161 145 150 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 1 61 257 336 342 358 379 527 373 392 Memo: technical coop. grants 14 21 91 132 151 125 110 131 139 156 official net resource flows 17 68 468 512 574 467 494 720 696 532 private net resource flows 10 44 16 114 174 208 139 159 148 149 NET TRANSFERS 23 109 466 562 699 632 588 840 814 639 Interest on long-term debt 5 3 18 38 38 26 28 21 12 26 Profit remittances on FDI 0 0 0 26 10 16 17 19 17 17 Memo: official net transfers 14 66 451 474 536 443 466 700 685 509 private net transfers 9 43 15 87 163 190 122 140 129 130 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,245 16,691 4,227 5,999 6,253 6,526 5,952 5,761 5,547 5,742 Exports of goods, serv. & inc. (XGS) .. 331 178 814 798 737 947 954 1,193 1,109 Worker remit. & comp. of employees 0 0 0 0 0 0 233 238 483 365 Imports of goods & services (MGS) .. 450 734 1,741 1,767 1,954 1,571 1,574 1,727 1,803 International reserves (RES) 57 3 44 528 633 725 763 808 983 934 Current account balance .. -83 -263 -212 -316 -364 -293 -359 -433 -353 4. DEBT INDICATORS EDT / XGS (%) .. 207.8 1,452.4 451.9 486.2 530.6 368.7 367.0 313.8 369.7 EDT / GNI (%) 12.2 4.1 61.1 61.3 62.0 59.9 58.7 60.8 67.5 71.4 TDS / XGS (%) .. 17.3 81.4 18.2 20.2 20.8 13.8 7.9 4.2 7.1 INT / XGS (%) .. 3.6 20.2 5.3 5.5 4.4 3.6 2.8 1.5 2.6 INT / GNI (%) 0.4 0.1 0.8 0.7 0.7 0.5 0.6 0.5 0.3 0.5 RES / EDT (%) 37.3 0.4 1.7 14.4 16.3 18.5 21.9 23.1 26.3 22.8 RES / MGS (months) .. 0.1 0.7 3.6 4.3 4.5 5.8 6.2 6.8 6.2 Short-term / EDT (%) 0.0 9.1 5.4 2.9 2.9 3.4 3.8 3.7 4.1 3.7 Concessional / EDT (%) 71.3 37.0 56.2 78.2 76.7 80.2 80.9 83.1 81.6 83.5 Multilateral / EDT (%) 12.6 11.5 49.2 62.1 62.0 62.1 73.0 75.4 75.6 77.0 541 UGANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 152 535 2,160 3,154 3,370 3,379 2,989 3,057 3,315 3,690 Public and publicly guaranteed 152 535 2,160 3,154 3,370 3,379 2,989 3,057 3,315 3,690 Official creditors 127 291 1,826 3,073 3,291 3,313 2,963 3,032 3,278 3,652 Multilateral 19 79 1,270 2,282 2,403 2,430 2,549 2,639 2,829 3,156 Concessional 13 63 1,129 2,206 2,326 2,365 2,479 2,572 2,771 3,096 Bilateral 108 212 556 790 887 883 413 393 449 496 Concessional 95 191 322 670 647 772 345 338 282 327 Private creditors 25 244 335 81 80 66 26 24 37 38 Bonds 10 0 4 4 4 4 4 4 4 4 Commercial banks 14 23 89 14 13 12 11 9 12 13 Other private 1 221 242 63 63 50 11 11 21 22 Private 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 0 Memo: IBRD 6 1 34 0 0 0 0 0 0 0 IDA 13 46 935 1,849 1,954 1,947 2,043 2,115 2,310 2,576 DISBURSEMENTS 26 83 293 225 291 174 174 219 344 170 Public and publicly guaranteed 26 83 293 225 291 174 174 219 344 170 Official creditors 19 18 254 225 291 174 174 219 340 170 Multilateral 5 7 219 179 280 169 168 218 338 132 Concessional 5 2 215 165 261 167 166 217 338 132 Bilateral 14 11 36 46 10 5 6 0 2 38 Concessional 14 11 23 45 9 3 5 0 0 38 Private creditors 7 65 38 0 0 0 0 0 4 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 6 17 4 0 0 0 0 0 4 0 Other private 2 49 34 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 5 1 199 124 216 113 132 190 298 109 PRINCIPAL REPAYMENTS 5 32 65 55 60 67 61 27 18 31 Public and publicly guaranteed 5 32 65 55 60 67 61 27 18 31 Official creditors 3 11 44 48 58 65 59 26 17 31 Multilateral 0 1 19 29 30 46 27 10 14 26 Concessional 0 0 4 17 18 28 12 7 7 21 Bilateral 3 10 25 19 28 19 32 16 3 4 Concessional 3 2 4 6 18 13 29 10 3 3 Private creditors 1 21 22 7 1 2 2 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 1 0 14 6 1 1 2 1 1 1 Other private 0 21 8 1 0 1 0 0 0 0 Private 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 0 Memo: IBRD 0 1 4 0 0 0 0 0 0 0 IDA 0 0 2 8 9 5 4 3 5 14 NET FLOWS ON DEBT 22 51 227 169 231 107 113 192 326 139 Public and publicly guaranteed 22 51 227 169 231 107 113 192 326 139 Official creditors 16 7 211 177 232 109 115 193 323 140 Multilateral 5 5 200 150 250 123 141 208 324 106 Concessional 5 1 211 148 243 139 154 209 330 110 Bilateral 11 1 11 27 -18 -14 -26 -15 -1 34 Concessional 11 9 19 39 -10 -10 -25 -10 -3 35 Private creditors 6 44 16 -7 -1 -2 -1 -1 3 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 5 17 -10 -6 -1 -1 -1 -1 3 -1 Other private 2 28 26 -1 0 -1 0 0 0 0 Private 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 0 Memo: IBRD 0 -1 -4 0 0 0 0 0 0 0 IDA 5 1 198 116 208 108 128 187 293 96 542 UGANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 5 3 18 38 38 26 28 21 12 26 Public and publicly guaranteed 5 3 18 38 38 26 28 21 12 26 Official creditors 3 2 17 38 38 24 27 21 10 23 Multilateral 0 1 13 22 22 19 17 10 10 21 Concessional 0 0 6 18 17 17 14 9 10 20 Bilateral 3 1 4 16 16 5 11 11 1 2 Concessional 2 1 1 7 8 3 5 7 1 2 Private creditors 1 1 1 0 0 2 0 0 2 2 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 1 0 1 0 0 2 0 0 2 2 Other private 0 1 0 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 2 0 0 0 0 0 0 0 IDA 0 0 5 13 14 12 10 6 9 15 NET TRANSFERS ON DEBT 17 47 209 131 193 81 85 171 314 113 Public and publicly guaranteed 17 47 209 131 193 81 85 171 314 113 Official creditors 13 5 194 139 195 85 87 172 312 116 Multilateral 5 4 188 128 228 104 124 198 314 85 Concessional 5 1 205 131 226 122 139 201 321 90 Bilateral 8 1 6 11 -34 -19 -37 -26 -2 32 Concessional 9 9 19 32 -18 -13 -30 -18 -4 33 Private creditors 5 43 15 -7 -2 -4 -2 -2 1 -3 Bonds -1 0 0 0 0 0 0 0 0 0 Commercial banks 4 17 -10 -6 -2 -3 -2 -2 1 -3 Other private 2 26 25 -1 0 -1 0 0 0 0 Private 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 0 Memo: IBRD -1 -1 -6 0 0 0 0 0 0 0 IDA 5 0 193 103 194 95 118 181 284 81 DEBT SERVICE (LTDS) 9 36 84 93 98 93 89 48 30 57 Public and publicly guaranteed 9 36 84 93 98 93 89 48 30 57 Official creditors 7 13 61 86 96 89 87 46 27 54 Multilateral 1 3 31 51 52 65 44 20 23 47 Concessional 0 1 10 35 35 45 27 16 17 42 Bilateral 6 10 29 35 44 24 43 26 4 7 Concessional 4 3 5 14 27 16 34 18 4 5 Private creditors 2 22 23 7 2 4 2 2 3 3 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 2 0 15 6 2 3 2 2 3 3 Other private 0 22 8 1 0 1 0 0 0 0 Private 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 0 Memo: IBRD 1 1 6 0 0 0 0 0 0 0 IDA 0 1 7 21 22 17 14 9 14 29 UNDISBURSED DEBT 47 161 844 844 689 738 819 701 906 1,144 Official creditors 44 143 821 844 688 713 793 672 882 1,119 Private creditors 3 19 23 0 0 25 26 29 25 25 Memorandum items Concessional LDOD 108 254 1,451 2,876 2,973 3,137 2,824 2,910 3,053 3,424 Variable rate LDOD 4 7 49 78 77 83 101 84 154 154 Public sector LDOD 150 531 2,157 3,146 3,366 3,375 2,984 3,052 3,311 3,685 Private sector LDOD 1 4 3 8 5 5 5 5 5 5 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 1.8 1.8 Deutsche mark 6.5 8.0 0.7 0.2 0.2 0.2 0.2 0.1 .. .. French franc 0.2 6.3 3.5 0.3 0.3 0.3 0.3 0.2 .. .. Japanese yen 0.3 0.7 0.3 1.7 1.4 1.6 2.0 1.8 1.4 1.4 Pound sterling 73.2 20.5 6.7 2.2 1.9 1.0 1.1 0.6 0.4 0.4 Swiss franc 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 6.9 43.9 53.4 65.7 67.8 66.5 60.8 62.7 66.6 66.1 Multiple currency 4.1 2.3 21.8 12.1 10.7 9.4 10.1 9.2 8.1 7.7 Special drawing rights 0.0 0.0 2.4 6.9 7.4 9.0 11.0 11.0 9.8 9.4 All other currencies 8.8 8.3 11.3 10.8 10.4 11.9 14.5 14.3 11.9 13.1 543 UGANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 16 0 0 149 19 35 0 0 Debt stock rescheduled .. .. 0 0 0 10 18 26 0 0 Principal rescheduled .. .. 4 0 0 133 0 0 0 0 Official .. .. 3 0 0 133 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 1 0 0 15 0 0 0 0 Official .. .. 1 0 0 15 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 51 0 0 3 6 13 19 16 Memo: interest forgiven .. .. 1 0 0 524 4 11 9 3 Debt stock reduction .. .. 0 0 0 185 0 165 0 0 of which debt buyback .. .. 0 0 0 85 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 406 103 201 33 -419 10 240 358 Net flows on debt 22 130 269 206 244 106 118 176 324 122 Net change in interest arrears .. .. 28 -9 -3 16 -8 3 21 2 Interest capitalized .. .. 1 0 0 15 0 0 0 0 Debt forgiveness or reduction .. .. -51 0 0 -103 -7 -179 -19 -16 Cross-currency valuation .. .. 201 -91 -111 -187 -65 -150 -122 224 Residual .. .. -43 -4 70 185 -457 159 36 27 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.9 4.9 1.0 0.8 0.8 0.7 0.8 1.0 0.8 0.8 Maturity (years) 28.4 26.2 33.0 39.7 43.0 38.5 40.3 39.2 40.5 38.6 Grace period (years) 6.7 6.0 9.0 10.2 9.7 10.7 10.1 7.7 11.5 9.6 Grant element (%) 46.3 40.0 68.4 80.6 79.8 80.7 80.3 74.9 80.9 77.8 Official creditors Interest (%) 3.2 2.7 1.1 0.8 0.8 0.8 0.8 0.8 0.8 0.8 Maturity (years) 33.8 38.2 36.5 39.7 43.0 39.5 40.4 40.0 40.5 38.6 Grace period (years) 8.0 8.2 9.9 10.2 9.7 10.1 10.2 7.9 11.5 9.6 Grant element (%) 55.5 62.0 74.9 80.6 79.8 80.1 80.7 76.7 80.9 77.8 Private creditors Interest (%) 6.9 8.2 0.5 0.0 0.0 0.2 7.0 7.5 0.0 8.0 Maturity (years) 5.3 7.8 1.3 0.0 0.0 30.5 21.5 8.2 0.0 2.2 Grace period (years) 0.8 2.4 0.7 0.0 0.0 16.0 5.0 2.8 0.0 0.7 Grant element (%) 7.2 6.4 8.8 0.0 0.0 86.3 19.4 9.6 0.0 2.3 Memorandum items Commitments 12 198 440 42 200 236 343 145 643 359 Official creditors 10 120 397 42 200 212 341 141 643 359 Private creditors 2 78 43 0 0 25 2 4 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 307 170 155 133 118 90 67 43 30 12 Principal 81 84 86 89 93 93 97 104 114 126 Interest 34 35 35 34 34 33 33 32 31 30 Official creditors Disbursements 295 162 152 131 118 90 67 43 30 12 Principal 78 82 85 88 92 93 97 103 114 126 Interest 34 34 34 34 34 33 33 32 31 30 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 16 15 15 16 16 16 15 15 15 13 Interest 8 8 7 7 6 6 5 5 5 4 Multilateral creditors Disbursements 295 162 152 131 118 90 67 43 30 12 Principal 62 67 70 71 76 77 82 88 99 112 Interest 26 27 27 27 27 27 27 27 27 26 Private creditors Disbursements 12 8 3 1 0 0 0 0 0 0 Principal 3 2 1 1 1 1 0 1 0 0 Interest 0 0 0 0 0 0 0 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3 2 1 1 1 1 0 1 0 0 Interest 0 0 0 0 0 0 0 0 0 0 Other private Disbursements 12 8 3 1 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 0 544 UKRAINE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 9,538 11,133 13,077 13,951 12,190 12,815 13,555 Long-term debt (LDOD) .. .. .. 6,832 7,642 9,802 10,829 9,670 10,163 11,100 Public and publicly guaranteed .. .. .. 6,648 7,015 8,972 9,590 8,142 8,201 8,349 Private nonguaranteed .. .. .. 184 627 830 1,238 1,528 1,961 2,752 Use of IMF credit .. .. .. 2,262 2,402 2,795 2,806 2,073 1,911 1,876 Short-term debt .. .. .. 444 1,089 479 315 447 742 578 of which interest arrears on LDOD .. .. .. 41 43 53 78 183 148 8 Official creditors .. .. .. 1 10 0 0 25 16 0 Private creditors .. .. .. 40 33 53 78 159 132 8 Memo: principal arrears on LDOD .. .. .. 66 235 156 345 567 611 351 Official creditors .. .. .. 0 139 0 0 143 294 282 Private creditors .. .. .. 66 96 156 345 424 317 69 Memo: export credits .. .. .. 1,100 889 113 94 404 621 668 TOTAL DEBT FLOWS Disbursements .. .. .. 1,852 1,775 3,634 2,073 1,638 2,101 2,846 Long-term debt .. .. .. 1,074 1,490 3,251 1,435 1,387 1,731 2,846 IMF purchases .. .. .. 778 285 382 638 251 370 0 Principal repayments .. .. .. 791 687 1,449 2,124 2,952 1,615 2,612 Long-term debt .. .. .. 791 687 1,344 1,568 2,103 1,155 2,429 IMF repurchases .. .. .. 0 0 105 557 849 460 182 Net flows on debt .. .. .. 1,276 1,730 1,566 -240 -1,287 816 212 of which short-term debt .. .. .. 215 643 -620 -189 26 329 -23 Interest payments (INT) .. .. .. 466 669 575 677 709 648 631 Long-term debt .. .. .. 374 527 421 545 573 539 554 IMF charges .. .. .. 74 102 115 110 122 87 55 Short-term debt .. .. .. 18 40 39 22 14 21 22 Net transfers on debt .. .. .. 809 1,062 991 -917 -1,996 168 -419 Total debt service paid (TDS) .. .. .. 1,257 1,356 2,023 2,801 3,661 2,262 3,243 Long-term debt .. .. .. 1,164 1,214 1,764 2,113 2,676 1,694 2,983 IMF repurchases and charges .. .. .. 74 102 220 667 971 547 238 Short-term debt (interest only) .. .. .. 18 40 39 22 14 21 22 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 1,106 1,836 3,063 618 -14 850 -728 Net flow of long-term debt (ex. IMF) .. .. .. 283 802 1,908 -132 -716 576 417 Foreign direct investment (net) .. .. .. 521 623 743 496 595 792 693 Portfolio equity flows .. .. .. 46 248 227 129 -193 -734 -1,958 Grants (excluding technical coop.) .. .. .. 256 163 185 125 299 216 120 Memo: technical coop. grants .. .. .. 128 86 250 439 241 303 371 official net resource flows .. .. .. 493 169 438 417 -765 428 -152 private net resource flows .. .. .. 612 1,667 2,625 202 751 422 -576 NET TRANSFERS .. .. .. 701 1,264 2,577 4 -630 231 -1,387 Interest on long-term debt .. .. .. 374 527 421 545 573 539 554 Profit remittances on FDI .. .. .. 31 45 65 69 43 79 105 Memo: official net transfers .. .. .. 295 -116 295 262 -914 252 -316 private net transfers .. .. .. 406 1,380 2,282 -258 284 -20 -1,071 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 43,986 49,506 41,039 30,712 30,320 37,342 40,871 Exports of goods, serv. & inc. (XGS) .. .. .. 20,448 20,513 17,743 17,156 19,665 21,337 23,649 Worker remit. & comp. of employees .. .. .. 0 0 0 0 0 140 207 Imports of goods & services (MGS) .. .. .. 22,141 22,693 19,821 16,204 19,032 21,307 22,263 International reserves (RES) .. .. .. 1,972 2,359 793 1,094 1,477 3,089 4,414 Current account balance .. .. .. -1,184 -1,335 -1,296 1,658 1,481 1,402 3,174 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 46.6 54.3 73.7 81.3 62.0 60.1 57.3 EDT / GNI (%) .. .. .. 21.7 22.5 31.9 45.4 40.2 34.3 33.2 TDS / XGS (%) .. .. .. 6.1 6.6 11.4 16.3 18.6 10.6 13.7 INT / XGS (%) .. .. .. 2.3 3.3 3.2 3.9 3.6 3.0 2.7 INT / GNI (%) .. .. .. 1.1 1.4 1.4 2.2 2.3 1.7 1.5 RES / EDT (%) .. .. .. 20.7 21.2 6.1 7.8 12.1 24.1 32.6 RES / MGS (months) .. .. .. 1.1 1.2 0.5 0.8 0.9 1.7 2.4 Short-term / EDT (%) .. .. .. 4.7 9.8 3.7 2.3 3.7 5.8 4.3 Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. .. .. 12.2 13.7 15.5 17.1 19.5 20.5 18.9 545 UKRAINE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 6,832 7,642 9,802 10,829 9,670 10,163 11,100 Public and publicly guaranteed .. .. .. 6,648 7,015 8,972 9,590 8,142 8,201 8,349 Official creditors .. .. .. 4,525 4,422 4,749 6,171 5,005 5,640 5,603 Multilateral .. .. .. 1,165 1,531 2,024 2,391 2,377 2,621 2,561 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 3,360 2,892 2,725 3,780 2,628 3,019 3,042 Concessional .. .. .. 217 212 263 3,361 2,257 2,447 2,414 Private creditors .. .. .. 2,123 2,593 4,223 3,419 3,136 2,561 2,745 Bonds .. .. .. 1,120 1,120 2,644 2,329 2,379 2,211 2,523 Commercial banks .. .. .. 95 605 690 452 134 93 62 Other private .. .. .. 908 868 889 639 623 258 160 Private nonguaranteed .. .. .. 184 627 830 1,238 1,528 1,961 2,752 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 184 627 830 1,238 1,528 1,961 2,752 Memo: IBRD .. .. .. 859 1,111 1,542 1,954 1,991 2,248 2,233 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 1,074 1,490 3,251 1,435 1,387 1,731 2,846 Public and publicly guaranteed .. .. .. 954 1,222 2,631 578 183 450 487 Official creditors .. .. .. 754 508 524 469 151 442 87 Multilateral .. .. .. 552 452 430 432 129 430 83 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 202 56 94 37 22 12 3 Concessional .. .. .. 162 10 34 11 16 8 1 Private creditors .. .. .. 200 713 2,108 110 32 8 400 Bonds .. .. .. 0 0 1,422 0 0 0 399 Commercial banks .. .. .. 17 523 509 63 14 0 0 Other private .. .. .. 184 190 176 46 18 8 1 Private nonguaranteed .. .. .. 120 268 620 857 1,204 1,281 2,360 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 120 268 620 857 1,204 1,281 2,360 Memo: IBRD .. .. .. 406 306 385 422 113 364 45 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 791 687 1,344 1,568 2,103 1,155 2,429 Public and publicly guaranteed .. .. .. 723 636 927 798 1,257 383 692 Official creditors .. .. .. 516 502 271 178 1,215 230 358 Multilateral .. .. .. 1 1 2 11 70 124 248 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 515 502 269 167 1,145 106 111 Concessional .. .. .. 0 0 0 2 1,100 98 109 Private creditors .. .. .. 207 134 656 620 42 153 334 Bonds .. .. .. 80 0 35 107 33 133 298 Commercial banks .. .. .. 0 3 428 289 2 14 1 Other private .. .. .. 127 130 193 225 7 6 35 Private nonguaranteed .. .. .. 68 52 416 769 845 772 1,737 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 68 52 416 769 845 772 1,737 Memo: IBRD .. .. .. 0 0 0 2 24 60 121 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 283 802 1,908 -132 -716 576 417 Public and publicly guaranteed .. .. .. 231 586 1,704 -220 -1,074 67 -205 Official creditors .. .. .. 238 6 253 291 -1,064 212 -272 Multilateral .. .. .. 551 452 428 421 59 305 -164 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. -314 -446 -175 -130 -1,123 -93 -108 Concessional .. .. .. 162 10 34 9 -1,084 -90 -108 Private creditors .. .. .. -6 580 1,451 -511 -10 -145 66 Bonds .. .. .. -80 0 1,387 -107 -33 -133 101 Commercial banks .. .. .. 17 520 81 -225 12 -14 -1 Other private .. .. .. 57 60 -17 -179 11 2 -34 Private nonguaranteed .. .. .. 52 216 204 88 359 509 623 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 52 216 204 88 359 509 623 Memo: IBRD .. .. .. 406 306 385 420 88 305 -76 IDA .. .. .. 0 0 0 0 0 0 0 546 UKRAINE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 374 527 421 545 573 539 554 Public and publicly guaranteed .. .. .. 352 463 371 481 502 456 450 Official creditors .. .. .. 198 285 143 155 149 176 164 Multilateral .. .. .. 40 71 93 116 141 133 93 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 159 214 50 38 8 43 71 Concessional .. .. .. 2 7 8 9 3 10 32 Private creditors .. .. .. 153 178 227 326 352 280 286 Bonds .. .. .. 96 99 104 262 344 240 228 Commercial banks .. .. .. 1 11 69 17 8 6 7 Other private .. .. .. 56 68 55 48 0 34 51 Private nonguaranteed .. .. .. 22 64 50 65 71 83 104 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 22 64 50 65 71 83 104 Memo: IBRD .. .. .. 32 59 68 94 118 111 77 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. -91 275 1,487 -677 -1,289 37 -137 Public and publicly guaranteed .. .. .. -120 123 1,334 -700 -1,576 -389 -656 Official creditors .. .. .. 39 -279 110 137 -1,214 36 -436 Multilateral .. .. .. 512 381 334 305 -82 172 -257 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. -472 -660 -225 -169 -1,132 -136 -178 Concessional .. .. .. 160 3 27 1 -1,087 -100 -140 Private creditors .. .. .. -160 402 1,224 -837 -362 -425 -220 Bonds .. .. .. -176 -99 1,284 -369 -377 -373 -127 Commercial banks .. .. .. 15 509 12 -242 4 -19 -8 Other private .. .. .. 1 -8 -72 -226 11 -32 -85 Private nonguaranteed .. .. .. 30 152 153 23 287 426 519 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 30 152 153 23 287 426 519 Memo: IBRD .. .. .. 374 247 317 326 -29 193 -153 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 1,164 1,214 1,764 2,113 2,676 1,694 2,983 Public and publicly guaranteed .. .. .. 1,074 1,099 1,298 1,279 1,759 839 1,143 Official creditors .. .. .. 714 787 414 332 1,365 406 522 Multilateral .. .. .. 40 71 95 127 211 257 341 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 674 716 319 205 1,154 149 181 Concessional .. .. .. 2 7 8 10 1,102 108 141 Private creditors .. .. .. 360 312 884 946 394 433 620 Bonds .. .. .. 176 99 139 369 377 373 526 Commercial banks .. .. .. 1 14 497 305 10 19 8 Other private .. .. .. 183 199 248 272 7 40 87 Private nonguaranteed .. .. .. 90 116 467 834 917 855 1,840 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 90 116 467 834 917 855 1,840 Memo: IBRD .. .. .. 32 59 68 96 142 171 198 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 1,643 1,211 1,692 1,165 1,091 832 609 Official creditors .. .. .. 1,421 1,025 1,521 939 909 708 561 Private creditors .. .. .. 222 186 170 226 182 124 47 Memorandum items Concessional LDOD .. .. .. 217 212 263 3,361 2,257 2,447 2,414 Variable rate LDOD .. .. .. 5,359 5,670 6,180 4,729 4,962 5,501 6,205 Public sector LDOD .. .. .. 6,631 6,990 8,939 9,566 8,117 8,195 8,342 Private sector LDOD .. .. .. 201 651 863 1,263 1,553 1,967 2,759 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 22.7 22.9 Deutsche mark .. .. .. 11.4 8.6 17.0 12.8 5.5 .. .. French franc .. .. .. 0.5 0.5 0.5 0.4 0.5 .. .. Japanese yen .. .. .. 2.6 2.3 1.9 1.9 2.0 1.7 1.9 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 57.1 58.7 49.6 57.3 53.2 55.5 56.0 Multiple currency .. .. .. 23.5 24.3 20.0 18.3 21.3 20.1 19.2 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 4.9 5.6 10.9 9.2 17.5 0.0 0.0 547 UKRAINE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 82 3,074 2,185 638 164 Debt stock rescheduled .. .. .. 0 0 0 1,895 1,870 5 0 Principal rescheduled .. .. .. 0 0 82 0 302 603 194 Official .. .. .. 0 0 0 0 0 77 48 Private .. .. .. 0 0 82 0 302 525 146 Interest rescheduled .. .. .. 0 0 0 601 12 45 0 Official .. .. .. 0 0 0 601 0 7 0 Private .. .. .. 0 0 0 0 12 38 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 17 0 0 0 0 2 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 0 1,109 1,595 1,943 874 -1,760 625 739 Net flows on debt .. .. .. 1,276 1,730 1,566 -240 -1,287 816 212 Net change in interest arrears .. .. 0 6 2 10 25 105 -35 -141 Interest capitalized .. .. .. 0 0 0 601 12 45 0 Debt forgiveness or reduction .. .. 0 -17 0 0 0 0 -2 0 Cross-currency valuation .. .. 0 -175 -354 238 -412 -369 -232 594 Residual .. .. 0 20 217 130 900 -221 33 74 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.2 5.5 9.1 4.7 7.3 4.0 9.6 Maturity (years) .. .. .. 14.7 4.1 8.0 9.8 15.2 20.1 6.8 Grace period (years) .. .. .. 4.9 1.6 3.3 4.5 4.5 5.6 4.5 Grant element (%) .. .. .. 20.8 8.6 4.6 25.7 14.9 40.1 4.2 Official creditors Interest (%) .. .. .. 6.3 5.7 5.6 6.5 7.3 4.0 3.1 Maturity (years) .. .. .. 15.8 12.3 16.9 10.6 15.2 20.1 18.9 Grace period (years) .. .. .. 5.3 3.3 4.3 2.1 4.5 5.6 5.3 Grant element (%) .. .. .. 21.8 19.6 22.5 14.1 14.9 40.1 45.1 Private creditors Interest (%) .. .. .. 5.6 5.5 11.0 3.4 0.0 0.0 11.0 Maturity (years) .. .. .. 6.3 2.3 3.3 9.2 0.0 0.0 4.3 Grace period (years) .. .. .. 1.6 1.2 2.8 6.3 0.0 0.0 4.3 Grant element (%) .. .. .. 13.0 6.2 -4.9 34.9 0.0 0.0 -4.3 Memorandum items Commitments .. .. .. 1,872 838 3,216 328 157 300 481 Official creditors .. .. .. 1,671 150 1,118 145 157 300 82 Private creditors .. .. .. 201 688 2,099 184 0 0 399 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 158 128 100 84 55 38 22 12 5 4 Principal 2,001 1,354 1,390 1,143 1,293 543 548 501 463 433 Interest 573 398 325 232 143 91 77 66 53 41 Official creditors Disbursements 120 122 96 84 55 38 22 12 5 4 Principal 385 406 487 472 468 436 430 423 400 378 Interest 117 110 102 92 81 70 59 48 37 27 Bilateral creditors Disbursements 7 4 1 1 0 0 0 0 0 0 Principal 165 129 203 203 203 203 197 186 176 175 Interest 39 36 34 30 25 20 16 12 9 6 Multilateral creditors Disbursements 113 118 95 84 55 38 22 12 5 4 Principal 220 277 284 269 265 234 234 237 224 203 Interest 78 74 68 62 56 50 43 36 29 21 Private creditors Disbursements 38 6 3 0 0 0 0 0 0 0 Principal 1,616 948 902 671 825 107 118 79 63 55 Interest 455 288 222 140 62 21 18 18 16 14 Commercial banks Disbursements 9 0 0 0 0 0 0 0 0 0 Principal 10 0 0 15 15 15 15 0 0 0 Interest 2 2 2 2 1 1 0 0 0 0 Other private Disbursements 29 6 3 0 0 0 0 0 0 0 Principal 1,606 948 902 656 810 91 103 79 63 55 Interest 454 287 221 138 61 20 17 18 16 14 548 URUGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 363 1,660 4,415 5,899 6,710 7,600 7,501 8,196 9,706 10,736 Long-term debt (LDOD) 298 1,338 3,114 4,231 4,809 5,430 5,550 6,131 6,634 7,343 Public and publicly guaranteed 269 1,127 3,045 4,097 4,586 5,142 5,110 5,597 6,110 6,851 Private nonguaranteed 29 211 69 135 223 288 440 534 524 492 Use of IMF credit 18 0 101 9 0 161 157 149 144 1,793 Short-term debt 47 322 1,201 1,659 1,901 2,009 1,794 1,917 2,929 1,600 of 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 0 Memo: 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 0 Memo: export credits 0 0 183 282 280 136 145 98 50 29 TOTAL DEBT FLOWS Disbursements 91 356 358 659 1,005 1,370 666 1,089 1,468 2,920 Long-term debt 50 356 346 659 1,005 1,215 666 1,089 1,468 1,286 IMF purchases 40 0 12 0 0 155 0 0 0 1,634 Principal repayments 80 130 559 298 290 688 574 676 877 807 Long-term debt 51 130 434 286 282 688 574 676 877 734 IMF repurchases 28 0 124 12 8 0 0 0 0 74 Net flows on debt 11 342 -134 684 957 790 -123 535 1,603 783 of which short-term debt 0 116 66 322 242 108 -215 123 1,012 -1,329 Interest payments (INT) 17 169 428 367 453 448 491 637 599 472 Long-term debt 17 121 318 272 346 334 379 506 417 397 IMF charges 0 0 16 1 0 0 6 8 7 24 Short-term debt 0 48 93 94 107 114 106 123 176 51 Net transfers on debt -6 173 -562 317 504 342 -614 -102 1,004 311 Total debt service paid (TDS) 97 299 987 665 744 1,136 1,065 1,313 1,476 1,280 Long-term debt 69 251 753 558 628 1,023 953 1,183 1,294 1,131 IMF repurchases and charges 28 0 141 12 8 0 6 8 7 98 Short-term debt (interest only) 0 48 93 94 107 114 106 123 176 51 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 0 516 -78 520 857 700 336 694 946 700 Net flow of long-term debt (ex. IMF) -1 226 -88 373 723 527 92 412 591 552 Foreign direct investment (net) 0 290 0 137 126 164 235 274 320 177 Portfolio equity flows 0 0 0 0 0 0 0 0 28 -39 Grants (excluding technical coop.) 1 0 11 10 8 9 9 9 6 9 Memo: technical coop. grants 3 9 25 28 26 22 20 15 18 17 official net resource flows 10 37 114 59 260 202 261 145 119 593 private net resource flows -10 479 -192 461 597 498 75 549 826 107 NET TRANSFERS -17 395 -396 212 473 307 -179 99 412 464 Interest on long-term debt 17 121 318 272 346 334 379 506 417 397 Profit remittances on FDI 0 0 0 36 38 58 135 89 116 -161 Memo: official net transfers 5 14 54 -34 164 90 130 -2 -28 458 private net transfers -23 380 -450 246 309 217 -309 100 440 5 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,359 9,753 8,949 20,231 21,396 22,068 20,609 19,806 18,179 11,942 Exports of goods, serv. & inc. (XGS) .. 1,594 2,417 4,308 4,765 4,756 4,288 4,441 4,094 3,199 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 2,312 2,239 4,624 5,126 5,291 4,869 5,035 4,611 2,971 International reserves (RES) 186 2,401 1,446 1,892 2,067 2,587 2,604 2,776 3,099 772 Current account balance .. -709 186 -233 -287 -476 -508 -566 -488 262 4. DEBT INDICATORS EDT / XGS (%) .. 104.1 182.7 136.9 140.8 159.8 174.9 184.6 237.1 335.6 EDT / GNI (%) 15.4 17.0 49.3 29.2 31.4 34.4 36.4 41.4 53.4 89.9 TDS / XGS (%) .. 18.8 40.8 15.4 15.6 23.9 24.8 29.6 36.1 40.0 INT / XGS (%) .. 10.6 17.7 8.5 9.5 9.4 11.4 14.3 14.6 14.8 INT / GNI (%) 0.7 1.7 4.8 1.8 2.1 2.0 2.4 3.2 3.3 4.0 RES / EDT (%) 51.3 144.7 32.7 32.1 30.8 34.0 34.7 33.9 31.9 7.2 RES / MGS (months) .. 12.5 7.7 4.9 4.8 5.9 6.4 6.6 8.1 3.1 Short-term / EDT (%) 12.9 19.4 27.2 28.1 28.3 26.4 23.9 23.4 30.2 14.9 Concessional / EDT (%) 15.6 5.1 2.3 3.6 3.5 3.2 3.3 2.6 2.0 1.6 Multilateral / EDT (%) 17.2 11.0 15.8 20.4 18.9 19.5 23.7 23.4 20.9 25.3 549 URUGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 298 1,338 3,114 4,231 4,809 5,430 5,550 6,131 6,634 7,343 Public and publicly guaranteed 269 1,127 3,045 4,097 4,586 5,142 5,110 5,597 6,110 6,851 Official creditors 126 333 895 1,462 1,621 1,880 2,152 2,231 2,302 2,942 Multilateral 62 182 699 1,204 1,268 1,481 1,780 1,915 2,029 2,716 Concessional 2 20 22 26 24 23 30 19 18 17 Bilateral 64 151 196 257 353 399 372 315 273 227 Concessional 55 64 78 187 212 220 216 193 179 154 Private creditors 143 794 2,150 2,635 2,965 3,262 2,958 3,366 3,808 3,909 Bonds 45 263 567 2,109 2,429 2,722 2,467 2,774 3,241 3,416 Commercial banks 81 502 1,576 520 529 535 488 579 552 473 Other private 16 30 8 6 7 4 3 13 14 19 Private nonguaranteed 29 211 69 135 223 288 440 534 524 492 Bonds 0 0 0 104 196 260 351 300 300 300 Commercial banks and other 29 211 69 30 28 29 89 234 224 192 Memo: IBRD 49 72 359 446 393 473 476 552 544 703 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 50 356 346 659 1,005 1,215 666 1,089 1,468 1,286 Public and publicly guaranteed 37 293 346 647 905 1,105 496 927 1,447 1,286 Official creditors 20 58 174 167 376 348 438 298 304 794 Multilateral 7 25 90 142 258 281 420 297 279 793 Concessional 1 3 3 0 0 0 0 0 0 1 Bilateral 13 34 85 25 118 67 18 1 24 1 Concessional 5 3 3 8 39 13 4 1 24 1 Private creditors 18 235 171 480 529 757 58 629 1,144 492 Bonds 7 0 164 180 471 694 37 615 1,070 450 Commercial banks 10 230 4 299 54 62 21 1 72 36 Other private 1 4 4 1 4 0 1 12 2 6 Private nonguaranteed 13 63 0 13 100 110 170 162 21 0 Bonds 0 0 0 0 100 100 100 0 0 0 Commercial banks and other 13 63 0 13 0 10 70 162 21 0 Memo: IBRD 2 4 51 39 50 129 66 134 65 234 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 51 130 434 286 282 688 574 676 877 734 Public and publicly guaranteed 47 93 398 286 279 639 565 612 846 702 Official creditors 11 22 71 118 124 155 186 162 190 210 Multilateral 8 9 61 106 116 117 130 120 136 152 Concessional 0 0 1 2 2 2 2 2 2 2 Bilateral 3 12 10 12 8 38 56 42 54 59 Concessional 3 3 2 8 6 13 12 15 30 36 Private creditors 36 71 327 168 155 484 379 451 656 491 Bonds 9 6 180 121 121 418 322 285 557 373 Commercial banks 21 59 143 45 31 63 54 164 97 117 Other private 6 6 5 3 3 3 2 2 1 1 Private nonguaranteed 4 37 36 0 3 49 9 64 31 32 Bonds 0 0 0 0 0 40 0 47 0 0 Commercial banks and other 4 37 36 0 3 9 9 17 31 32 Memo: IBRD 6 6 43 70 68 64 63 58 72 75 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT -1 226 -88 373 723 527 92 412 591 552 Public and publicly guaranteed -10 200 -52 361 625 465 -68 314 601 584 Official creditors 8 37 104 49 252 193 252 136 114 584 Multilateral -1 15 29 36 142 164 291 178 144 641 Concessional 1 3 2 -2 -2 -2 -2 -2 -1 -1 Bilateral 9 21 75 14 110 29 -39 -41 -30 -57 Concessional 2 0 1 0 33 0 -8 -14 -6 -34 Private creditors -18 163 -156 311 373 273 -320 178 488 0 Bonds -2 -6 -16 59 349 276 -285 331 512 77 Commercial banks -11 171 -139 254 23 -1 -33 -163 -25 -81 Other private -5 -2 -1 -1 1 -3 -2 11 1 5 Private nonguaranteed 9 26 -36 13 97 61 160 98 -10 -32 Bonds 0 0 0 0 100 60 100 -47 0 0 Commercial banks and other 9 26 -36 13 -3 1 60 145 -10 -32 Memo: IBRD -4 -2 8 -31 -17 65 3 76 -8 158 IDA 0 0 0 0 0 0 0 0 0 0 550 URUGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 17 121 318 272 346 334 379 506 417 397 Public and publicly guaranteed 16 105 312 264 337 318 353 429 379 365 Official creditors 4 23 61 94 96 112 130 147 147 135 Multilateral 3 16 54 86 85 96 115 134 135 128 Concessional 0 0 0 1 1 0 0 0 0 0 Bilateral 1 7 7 7 11 16 16 13 13 7 Concessional 1 2 2 4 4 3 4 4 5 3 Private creditors 12 82 252 170 240 206 223 283 232 230 Bonds 3 30 61 144 192 163 183 182 187 205 Commercial banks 7 50 190 26 48 43 39 101 44 24 Other private 1 2 1 0 1 0 0 0 1 1 Private nonguaranteed 2 17 6 9 10 17 26 77 38 32 Bonds 0 0 0 9 8 15 21 29 26 26 Commercial banks and other 2 17 6 0 2 2 5 48 12 7 Memo: IBRD 2 7 27 33 28 29 33 42 38 29 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -18 105 -407 101 376 192 -287 -94 174 155 Public and publicly guaranteed -26 95 -365 97 289 148 -421 -115 222 219 Official creditors 4 14 43 -44 156 81 122 -10 -34 449 Multilateral -4 0 -25 -51 57 68 176 44 9 513 Concessional 1 3 1 -2 -2 -2 -2 -2 -2 -1 Bilateral 8 14 68 6 99 13 -54 -54 -43 -64 Concessional 1 -2 -1 -3 29 -4 -11 -18 -11 -38 Private creditors -30 81 -408 141 133 67 -543 -104 255 -230 Bonds -5 -36 -77 -85 157 113 -469 149 325 -129 Commercial banks -18 121 -329 228 -24 -43 -72 -264 -69 -105 Other private -6 -4 -2 -2 1 -3 -2 10 0 4 Private nonguaranteed 7 10 -42 4 88 45 134 21 -47 -64 Bonds 0 0 0 -9 92 45 79 -77 -26 -26 Commercial banks and other 7 10 -42 13 -4 -1 55 97 -22 -38 Memo: IBRD -6 -9 -19 -64 -45 36 -30 35 -46 129 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 69 251 753 558 628 1,023 953 1,183 1,294 1,131 Public and publicly guaranteed 63 198 711 550 616 957 918 1,041 1,225 1,067 Official creditors 16 44 132 211 220 267 316 308 337 345 Multilateral 11 25 115 192 202 213 244 253 270 280 Concessional 0 1 1 2 2 2 2 2 2 2 Bilateral 5 19 17 19 19 54 72 55 67 65 Concessional 4 5 4 12 10 17 16 19 35 39 Private creditors 48 153 579 339 396 690 601 733 888 722 Bonds 12 36 241 264 314 581 505 466 745 578 Commercial banks 28 109 333 71 78 106 93 265 141 141 Other private 8 8 5 3 4 3 3 2 2 2 Private nonguaranteed 6 54 42 9 12 66 36 141 68 64 Bonds 0 0 0 9 8 55 21 77 26 26 Commercial banks and other 6 54 42 0 4 11 14 65 43 38 Memo: IBRD 8 13 70 103 96 93 96 100 111 104 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 87 519 736 1,002 1,273 1,189 812 637 682 951 Official creditors 79 326 675 824 1,133 1,145 787 564 676 951 Private creditors 7 193 61 178 140 44 26 73 6 0 Memorandum items Concessional LDOD 57 84 100 213 236 243 246 212 197 171 Variable rate LDOD 31 474 2,286 2,196 2,448 2,540 2,845 3,149 3,121 3,708 Public sector LDOD 269 1,123 3,042 4,095 4,582 5,140 5,109 5,597 6,110 6,851 Private sector LDOD 29 215 72 137 227 290 441 534 524 492 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 6.6 6.8 Deutsche mark 2.3 0.3 1.7 5.6 4.4 4.3 3.7 0.3 .. .. French franc 0.0 3.6 0.3 0.7 0.5 0.5 0.4 0.4 .. .. Japanese yen 0.0 1.1 5.1 4.0 5.7 4.4 4.6 3.4 5.9 4.3 Pound sterling 4.9 0.2 3.6 2.1 1.8 1.5 1.4 1.0 0.8 0.6 Swiss franc 8.0 0.0 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 62.9 77.9 64.9 61.3 65.4 77.2 76.8 80.9 78.3 81.1 Multiple currency 20.0 14.7 22.5 26.2 22.1 12.1 13.1 10.5 8.4 7.2 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 2.0 2.2 0.4 0.0 0.0 0.0 0.0 3.5 0.0 0.0 551 URUGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 0 0 0 0 96 0 0 0 of which debt buyback .. .. 0 0 0 0 85 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. -33 581 811 890 -100 696 1,510 1,030 Net flows on debt 11 342 -134 684 957 790 -123 535 1,603 783 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 -11 0 0 0 Cross-currency valuation .. .. 77 -141 -144 76 -12 -94 -86 165 Residual .. .. 24 38 -1 25 47 255 -8 81 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.9 10.1 9.1 7.2 6.7 7.2 6.3 7.8 6.3 3.3 Maturity (years) 11.9 15.3 12.9 15.5 19.3 12.0 26.0 8.5 12.3 10.1 Grace period (years) 3.0 5.9 2.4 4.9 10.2 6.4 13.1 7.0 7.9 4.4 Grant element (%) 10.4 1.0 5.1 15.5 19.2 15.7 29.0 10.7 20.2 27.8 Official creditors Interest (%) 7.1 7.9 7.8 7.0 6.7 7.0 7.0 7.2 6.3 2.8 Maturity (years) 16.2 20.6 20.1 21.9 17.4 17.6 24.8 14.8 20.8 10.1 Grace period (years) 3.8 8.0 5.0 5.1 4.0 4.4 5.5 5.2 5.3 4.0 Grant element (%) 15.4 13.5 12.9 19.6 18.5 17.5 20.6 15.7 23.8 29.3 Private creditors Interest (%) 9.5 13.0 9.8 7.4 6.8 7.3 5.1 7.8 6.3 8.1 Maturity (years) 3.9 8.4 8.7 9.9 22.2 8.2 28.5 7.7 8.9 9.8 Grace period (years) 1.6 3.2 1.0 4.7 19.4 7.8 27.9 7.2 8.9 9.8 Grant element (%) 1.1 -15.4 0.6 11.9 20.1 14.6 45.3 10.1 18.8 11.3 Memorandum items Commitments 71 347 339 957 1,221 1,097 118 759 1,499 1,168 Official creditors 46 197 124 449 730 436 78 83 422 1,070 Private creditors 25 150 215 508 491 661 40 675 1,077 98 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 394 264 142 72 38 17 10 6 3 3 Principal 700 452 781 1,026 989 476 546 335 781 541 Interest 416 390 376 340 289 249 218 191 157 114 Official creditors Disbursements 394 264 142 72 38 17 10 6 3 3 Principal 243 225 347 480 460 243 233 222 207 202 Interest 142 139 133 123 110 97 86 76 66 57 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 39 23 22 17 17 17 14 11 11 10 Interest 4 4 3 3 2 2 2 1 1 1 Multilateral creditors Disbursements 394 264 142 72 38 17 10 6 3 3 Principal 204 202 325 462 442 226 219 210 196 192 Interest 138 135 130 120 107 95 85 75 65 56 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 457 227 434 546 529 233 313 113 573 339 Interest 273 251 243 217 179 152 131 115 91 57 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 114 114 92 121 12 6 3 3 3 2 Interest 19 16 11 8 1 1 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 343 113 342 425 517 227 310 109 570 337 Interest 255 235 232 209 178 151 131 115 91 57 552 UZBEKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 2,387 2,790 3,230 4,805 4,418 4,671 4,568 Long-term debt (LDOD) .. .. .. 2,058 2,148 2,851 3,977 4,009 4,089 4,175 Public and publicly guaranteed .. .. .. 1,994 2,041 2,597 3,508 3,647 3,803 3,901 Private nonguaranteed .. .. .. 65 107 254 469 362 286 274 Use of IMF credit .. .. .. 238 223 233 202 127 78 62 Short-term debt .. .. .. 92 419 147 626 282 503 331 of which interest arrears on LDOD .. .. .. 0 0 3 3 3 4 85 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 3 3 3 4 85 Memo: principal arrears on LDOD .. .. .. 0 0 4 19 17 16 47 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 4 19 17 16 47 Memo: export credits .. .. .. 488 960 738 691 799 629 586 TOTAL DEBT FLOWS Disbursements .. .. .. 935 503 826 1,454 746 824 411 Long-term debt .. .. .. 849 503 826 1,454 746 824 411 IMF purchases .. .. .. 86 0 0 0 0 0 0 Principal repayments .. .. .. 193 325 206 350 632 620 558 Long-term debt .. .. .. 193 325 206 324 567 575 537 IMF repurchases .. .. .. 0 0 0 25 65 45 22 Net flows on debt .. .. .. 622 505 345 1,583 -230 425 -401 of which short-term debt .. .. .. -120 328 -275 479 -344 221 -254 Interest payments (INT) .. .. .. 108 187 143 200 227 219 175 Long-term debt .. .. .. 97 163 127 171 195 199 158 IMF charges .. .. .. 7 10 10 9 9 5 2 Short-term debt .. .. .. 4 14 6 20 23 16 14 Net transfers on debt .. .. .. 513 318 201 1,383 -457 205 -576 Total debt service paid (TDS) .. .. .. 301 512 350 550 859 839 733 Long-term debt .. .. .. 290 488 333 496 762 774 695 IMF repurchases and charges .. .. .. 7 10 10 34 74 50 24 Short-term debt (interest only) .. .. .. 4 14 6 20 23 16 14 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 774 374 785 1,276 286 856 1 Net flow of long-term debt (ex. IMF) .. .. .. 656 178 620 1,129 179 249 -126 Foreign direct investment (net) .. .. .. 90 167 140 121 73 570 65 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 28 29 25 25 34 37 62 Memo: technical coop. grants .. .. .. 36 32 36 46 39 47 74 official net resource flows .. .. .. 255 62 229 443 306 301 12 private net resource flows .. .. .. 519 312 556 833 -20 555 -11 NET TRANSFERS .. .. .. 669 190 631 1,078 56 620 -183 Interest on long-term debt .. .. .. 97 163 127 171 195 199 158 Profit remittances on FDI .. .. .. 8 21 27 26 35 37 26 Memo: official net transfers .. .. .. 200 -42 164 375 237 226 -59 private net transfers .. .. .. 469 232 467 703 -181 395 -125 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 13,876 10,531 10,614 8,500 7,594 7,349 7,787 Exports of goods, serv. & inc. (XGS) .. .. .. 3,897 3,999 3,415 3,132 3,391 3,216 3,014 Worker remit. & comp. of employees .. .. .. 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. .. .. 4,875 4,611 3,561 3,345 3,189 3,372 2,895 International reserves (RES) .. .. .. .. .. .. 1,242 .. .. .. Current account balance .. .. .. -980 -584 -103 -164 216 -113 239 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 61.3 69.8 94.6 153.4 130.3 145.2 151.5 EDT / GNI (%) .. .. .. 17.2 26.5 30.4 56.5 58.2 63.6 58.7 TDS / XGS (%) .. .. .. 7.7 12.8 10.2 17.6 25.3 26.1 24.3 INT / XGS (%) .. .. .. 2.8 4.7 4.2 6.4 6.7 6.8 5.8 INT / GNI (%) .. .. .. 0.8 1.8 1.4 2.4 3.0 3.0 2.2 RES / EDT (%) .. .. .. .. .. .. 25.9 .. .. .. RES / MGS (months) .. .. .. .. .. .. 4.5 .. .. .. Short-term / EDT (%) .. .. .. 3.8 15.0 4.5 13.0 6.4 10.8 7.2 Concessional / EDT (%) .. .. .. 25.8 7.4 12.0 15.5 20.2 20.6 22.9 Multilateral / EDT (%) .. .. .. 11.5 7.5 8.4 7.8 10.3 11.1 12.5 553 UZBEKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 2,058 2,148 2,851 3,977 4,009 4,089 4,175 Public and publicly guaranteed .. .. .. 1,994 2,041 2,597 3,508 3,647 3,803 3,901 Official creditors .. .. .. 1,213 1,179 1,446 1,906 2,065 2,197 2,278 Multilateral .. .. .. 275 209 271 373 454 520 570 Concessional .. .. .. 0 0 0 1 2 6 13 Bilateral .. .. .. 939 970 1,175 1,533 1,611 1,677 1,708 Concessional .. .. .. 615 205 388 744 892 956 1,033 Private creditors .. .. .. 780 861 1,151 1,602 1,582 1,606 1,623 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 96 267 372 604 675 621 676 Other private .. .. .. 684 594 779 998 907 985 947 Private nonguaranteed .. .. .. 65 107 254 469 362 286 274 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 65 107 254 469 362 286 274 Memo: IBRD .. .. .. 155 155 177 203 217 237 275 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 849 503 826 1,454 746 824 411 Public and publicly guaranteed .. .. .. 791 452 675 1,210 713 764 355 Official creditors .. .. .. 367 191 286 504 409 424 128 Multilateral .. .. .. 47 21 53 110 121 117 78 Concessional .. .. .. 0 0 0 0 1 4 7 Bilateral .. .. .. 321 170 233 395 288 308 50 Concessional .. .. .. 79 116 153 308 266 229 37 Private creditors .. .. .. 423 260 389 705 304 340 228 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 96 185 128 302 156 56 112 Other private .. .. .. 327 76 261 403 147 284 116 Private nonguaranteed .. .. .. 58 51 151 244 34 60 56 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 58 51 151 244 34 60 56 Memo: IBRD .. .. .. 9 13 10 28 31 40 31 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 193 325 206 324 567 575 537 Public and publicly guaranteed .. .. .. 188 316 199 295 427 439 468 Official creditors .. .. .. 140 159 82 87 137 160 177 Multilateral .. .. .. 3 67 3 6 29 38 44 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 137 92 79 81 108 122 133 Concessional .. .. .. 3 5 8 12 26 51 58 Private creditors .. .. .. 48 158 117 208 290 279 291 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 13 28 57 76 103 83 Other private .. .. .. 48 145 90 151 214 175 208 Private nonguaranteed .. .. .. 5 8 7 30 140 136 69 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 5 8 7 30 140 136 69 Memo: IBRD .. .. .. 0 0 0 1 5 8 9 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 656 178 620 1,129 179 249 -126 Public and publicly guaranteed .. .. .. 603 135 476 915 286 325 -113 Official creditors .. .. .. 227 32 204 417 272 264 -49 Multilateral .. .. .. 44 -46 50 104 93 78 33 Concessional .. .. .. 0 0 0 0 1 4 7 Bilateral .. .. .. 183 78 154 314 180 186 -83 Concessional .. .. .. 76 111 145 296 240 179 -21 Private creditors .. .. .. 376 103 272 498 14 61 -63 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 96 172 101 245 80 -47 29 Other private .. .. .. 279 -69 171 252 -66 108 -93 Private nonguaranteed .. .. .. 53 43 144 214 -107 -76 -13 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 53 43 144 214 -107 -76 -13 Memo: IBRD .. .. .. 9 13 10 27 27 31 21 IDA .. .. .. 0 0 0 0 0 0 0 554 UZBEKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. .. 97 163 127 171 195 199 158 Public and publicly guaranteed .. .. .. 92 158 125 157 173 180 141 Official creditors .. .. .. 55 103 65 68 69 75 71 Multilateral .. .. .. 16 16 14 18 26 32 27 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 39 87 51 50 43 43 44 Concessional .. .. .. 14 55 5 16 24 26 28 Private creditors .. .. .. 37 55 59 89 104 104 70 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 12 17 30 46 42 25 Other private .. .. .. 37 43 43 59 58 62 45 Private nonguaranteed .. .. .. 5 5 3 15 22 19 17 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 5 5 3 15 22 19 17 Memo: IBRD .. .. .. 10 10 10 11 12 11 12 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 559 15 493 958 -16 50 -284 Public and publicly guaranteed .. .. .. 511 -23 351 758 113 145 -254 Official creditors .. .. .. 172 -71 139 349 203 188 -120 Multilateral .. .. .. 28 -62 35 86 67 46 7 Concessional .. .. .. 0 0 0 0 1 4 7 Bilateral .. .. .. 145 -9 103 263 137 142 -127 Concessional .. .. .. 63 55 139 280 215 152 -49 Private creditors .. .. .. 338 48 213 409 -90 -43 -133 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 96 160 84 215 35 -89 4 Other private .. .. .. 242 -113 129 194 -125 46 -137 Private nonguaranteed .. .. .. 48 38 141 200 -129 -94 -30 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 48 38 141 200 -129 -94 -30 Memo: IBRD .. .. .. -1 3 0 16 15 20 9 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 290 488 333 496 762 774 695 Public and publicly guaranteed .. .. .. 280 475 324 451 600 619 609 Official creditors .. .. .. 195 262 147 155 206 236 248 Multilateral .. .. .. 19 83 17 24 55 71 71 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 176 179 130 131 151 165 177 Concessional .. .. .. 16 60 14 28 51 77 86 Private creditors .. .. .. 85 213 176 296 394 383 361 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 24 44 87 122 145 108 Other private .. .. .. 85 188 132 209 272 238 253 Private nonguaranteed .. .. .. 10 13 10 45 163 155 86 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 10 13 10 45 163 155 86 Memo: IBRD .. .. .. 10 10 10 12 16 20 21 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 1,039 1,046 1,768 1,754 1,276 1,116 1,329 Official creditors .. .. .. 847 759 1,109 1,206 975 805 1,127 Private creditors .. .. .. 191 288 660 548 301 311 202 Memorandum items Concessional LDOD .. .. .. 615 205 388 744 894 962 1,046 Variable rate LDOD .. .. .. 887 1,437 1,918 2,694 2,722 2,799 2,876 Public sector LDOD .. .. .. 1,770 1,814 2,384 3,323 3,490 3,672 3,794 Private sector LDOD .. .. .. 289 334 467 654 518 417 381 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 16.2 18.8 Deutsche mark .. .. .. 14.1 14.8 15.2 11.8 9.5 .. .. French franc .. .. .. 4.3 4.4 4.5 3.0 2.5 .. .. Japanese yen .. .. .. 5.7 8.6 12.6 20.4 21.9 21.2 21.3 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.1 0.1 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 64.4 64.5 60.8 57.1 55.5 56.7 53.2 Multiple currency .. .. .. 7.8 7.6 6.7 5.4 5.0 4.6 5.0 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 3.7 0.0 0.1 2.2 5.6 1.3 1.8 555 UZBEKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 501 0 0 0 0 0 Debt stock rescheduled .. .. .. 0 501 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 .. .. .. 0 0 0 0 0 0 0 Official .. .. .. 0 0 0 0 0 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 0 589 402 441 1,574 -387 253 -103 Net flows on debt .. .. .. 622 505 345 1,583 -230 425 -401 Net change in interest arrears .. .. 0 0 0 3 0 0 1 81 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 -40 -97 69 -36 -145 -150 227 Residual .. .. 0 8 -6 24 27 -12 -22 -10 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 4.8 6.1 5.3 4.9 6.4 4.6 3.1 Maturity (years) .. .. .. 15.9 11.1 12.5 12.0 14.6 12.7 22.7 Grace period (years) .. .. .. 4.0 2.8 3.0 3.2 3.5 2.8 6.8 Grant element (%) .. .. .. 29.8 17.3 22.3 24.5 19.2 24.4 46.6 Official creditors Interest (%) .. .. .. 3.9 6.0 4.3 3.8 6.0 4.2 3.2 Maturity (years) .. .. .. 20.8 15.3 16.9 17.3 17.9 22.0 26.5 Grace period (years) .. .. .. 6.5 3.9 4.1 5.2 4.4 4.7 8.0 Grant element (%) .. .. .. 41.9 22.2 31.7 37.0 24.0 38.0 52.2 Private creditors Interest (%) .. .. .. 5.9 6.1 6.0 5.8 7.3 4.8 3.0 Maturity (years) .. .. .. 9.7 7.1 8.9 7.9 6.4 6.6 7.2 Grace period (years) .. .. .. 0.8 1.8 2.0 1.6 1.4 1.6 1.9 Grant element (%) .. .. .. 14.3 12.8 14.7 14.6 7.4 15.3 23.2 Memorandum items Commitments .. .. .. 762 715 1,346 1,129 313 743 528 Official creditors .. .. .. 428 344 603 498 223 297 426 Private creditors .. .. .. 333 371 743 631 90 446 103 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 373 331 222 156 98 60 39 11 7 3 Principal 733 735 679 635 426 315 249 226 146 130 Interest 138 116 104 92 76 65 56 48 42 38 Official creditors Disbursements 256 276 200 148 98 60 39 11 7 3 Principal 242 350 349 346 217 174 158 161 127 120 Interest 68 67 66 64 60 56 51 46 42 37 Bilateral creditors Disbursements 121 128 79 47 27 13 7 1 1 0 Principal 151 266 259 254 139 97 82 85 50 48 Interest 42 39 35 30 26 23 20 18 16 15 Multilateral creditors Disbursements 135 148 121 101 71 47 32 9 6 3 Principal 91 84 90 92 77 77 76 76 77 73 Interest 26 28 31 34 34 33 31 28 25 22 Private creditors Disbursements 117 55 22 8 0 0 0 0 0 0 Principal 491 385 329 289 209 141 91 64 19 9 Interest 70 49 38 28 16 9 4 2 1 0 Commercial banks Disbursements 41 20 8 4 0 0 0 0 0 0 Principal 158 124 103 95 81 74 52 47 11 3 Interest 17 14 11 8 6 4 2 1 0 0 Other private Disbursements 76 34 14 4 0 0 0 0 0 0 Principal 333 261 226 195 128 67 39 17 8 6 Interest 53 35 27 19 10 5 3 1 1 0 556 VANUATU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 40.2 47.2 47.9 63.2 64.6 68.6 65.8 83.7 Long-term debt (LDOD) .. .. 30.6 42.2 38.9 54.2 63.4 67.2 64.5 69.7 Public and publicly guaranteed .. .. 30.6 42.2 38.9 54.2 63.4 67.2 64.5 69.7 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 9.6 5.0 9.0 9.0 1.1 1.4 1.4 14.0 of which interest arrears on LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: principal arrears on LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: export credits .. .. 23.0 10.7 8.9 1.9 1.1 2.6 0.7 0.0 TOTAL DEBT FLOWS Disbursements .. .. 8.7 1.1 0.9 12.1 5.7 9.6 2.8 0.5 Long-term debt .. .. 8.7 1.1 0.9 12.1 5.7 9.6 2.8 0.5 IMF purchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 1.0 1.0 0.9 0.6 0.9 1.0 1.0 1.0 Long-term debt .. .. 1.0 1.0 0.9 0.6 0.9 1.0 1.0 1.0 IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 7.8 0.1 4.0 11.5 -3.1 8.9 1.8 12.1 of which short-term debt .. .. 0.1 0.0 4.0 0.0 -7.9 0.3 0.0 12.6 Interest payments (INT) .. .. 1.5 1.0 1.4 1.1 1.0 1.1 0.8 1.1 Long-term debt .. .. 0.7 0.7 0.6 0.6 0.8 0.8 0.8 0.8 IMF charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 0.7 0.3 0.8 0.5 0.3 0.3 0.1 0.3 Net transfers on debt .. .. 6.4 -0.8 2.7 10.4 -4.1 7.7 1.0 11.0 Total debt service paid (TDS) .. .. 2.4 1.9 2.2 1.7 1.9 2.2 1.8 2.2 Long-term debt .. .. 1.7 1.6 1.4 1.2 1.6 1.8 1.7 1.8 IMF repurchases and charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. .. 0.7 0.3 0.8 0.5 0.3 0.3 0.1 0.3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 42.9 45.5 37.5 38.9 25.8 40.9 28.4 22.5 Net flow of long-term debt (ex. IMF) .. .. 7.7 0.1 0.0 11.5 4.8 8.6 1.8 -0.5 Foreign direct investment (net) .. .. 13.1 32.7 30.2 20.4 13.4 20.3 18.0 15.0 Portfolio equity flows .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 22.0 12.7 7.2 7.1 7.6 12.0 8.5 8.0 Memo: technical coop. grants .. .. 22.2 18.1 20.0 22.1 24.1 20.6 19.7 19.6 official net resource flows .. .. 30.0 13.0 7.4 18.6 12.5 20.6 10.4 7.5 private net resource flows .. .. 12.9 32.6 30.1 20.3 13.3 20.3 18.0 15.0 NET TRANSFERS .. .. 27.0 14.2 8.3 17.9 11.3 18.2 13.6 12.0 Interest on long-term debt .. .. 0.7 0.7 0.6 0.6 0.8 0.8 0.8 0.8 Profit remittances on FDI .. .. 15.2 30.7 28.6 20.5 13.7 21.9 14.0 9.7 Memo: official net transfers .. .. 29.4 12.3 6.8 18.1 11.7 19.8 9.6 6.7 private net transfers .. .. -2.5 1.8 1.5 -0.2 -0.4 -1.6 4.0 5.3 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 162.6 220.9 228.0 226.1 229.0 218.3 216.6 231.3 Exports of goods, serv. & inc. (XGS) .. .. 112.7 138.8 138.5 174.9 168.9 186.7 172.2 .. Worker remit. & comp. of employees .. .. 6.9 0.0 0.0 7.8 9.6 13.5 18.4 0.0 Imports of goods & services (MGS) .. .. 136.5 165.2 160.6 162.5 182.6 178.8 172.2 .. International reserves (RES) .. .. 37.7 43.9 37.3 44.7 41.4 38.9 37.7 36.5 Current account balance .. .. -6.2 -26.9 -19.3 5.8 -13.1 5.0 1.8 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 35.7 34.0 34.6 36.1 38.2 36.8 38.2 .. EDT / GNI (%) .. .. 24.7 21.3 21.0 28.0 28.2 31.4 30.4 36.2 TDS / XGS (%) .. .. 2.1 1.4 1.6 1.0 1.1 1.2 1.0 .. INT / XGS (%) .. .. 1.3 0.7 1.0 0.6 0.6 0.6 0.5 .. INT / GNI (%) 0.9 0.4 0.6 0.5 0.4 0.5 0.4 0.5 RES / EDT (%) 93.7 93.2 77.8 70.6 64.0 56.7 57.2 43.6 RES / MGS (months) 3.3 3.2 2.8 3.3 2.7 2.6 2.6 .. Short-term / EDT (%) .. .. 23.9 10.6 18.8 14.2 1.8 2.1 2.1 16.7 Concessional / EDT (%) .. .. 62.5 86.8 79.7 84.9 97.6 97.4 97.4 83.0 Multilateral / EDT (%) .. .. 39.5 65.7 60.6 70.1 84.8 86.7 87.3 74.5 557 VANUATU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 30.6 42.2 38.9 54.2 63.4 67.2 64.5 69.7 Public and publicly guaranteed .. .. 30.6 42.2 38.9 54.2 63.4 67.2 64.5 69.7 Official creditors .. .. 29.1 41.8 38.8 54.2 63.4 67.2 64.5 69.7 Multilateral .. .. 15.9 31.0 29.0 44.3 54.8 59.5 57.4 62.4 Concessional .. .. 12.9 30.7 29.0 44.3 54.8 59.5 57.4 62.4 Bilateral .. .. 13.3 10.9 9.7 9.9 8.7 7.7 7.0 7.3 Concessional .. .. 12.3 10.3 9.2 9.4 8.2 7.4 6.7 7.1 Private creditors .. .. 1.5 0.3 0.2 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 .. .. 1.5 0.3 0.2 0.1 0.0 0.0 0.0 0.0 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 4.0 13.2 13.0 14.1 13.8 12.9 12.2 12.9 DISBURSEMENTS .. .. 8.7 1.1 0.9 12.1 5.7 9.6 2.8 0.5 Public and publicly guaranteed .. .. 8.7 1.1 0.9 12.1 5.7 9.6 2.8 0.5 Official creditors .. .. 8.7 1.1 0.9 12.1 5.7 9.6 2.8 0.5 Multilateral .. .. 3.3 1.0 0.8 12.1 5.7 9.6 2.8 0.5 Concessional .. .. 3.3 1.0 0.8 12.1 5.7 9.6 2.8 0.5 Bilateral .. .. 5.4 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Concessional .. .. 5.3 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.8 0.5 0.6 0.6 0.3 0.0 0.0 0.0 PRINCIPAL REPAYMENTS .. .. 1.0 1.0 0.9 0.6 0.9 1.0 1.0 1.0 Public and publicly guaranteed .. .. 1.0 1.0 0.9 0.6 0.9 1.0 1.0 1.0 Official creditors .. .. 0.8 0.8 0.8 0.5 0.8 1.0 1.0 1.0 Multilateral .. .. 0.5 0.5 0.4 0.2 0.5 0.5 0.5 0.6 Concessional .. .. 0.0 0.2 0.2 0.2 0.5 0.5 0.5 0.6 Bilateral .. .. 0.3 0.4 0.3 0.3 0.3 0.5 0.5 0.5 Concessional .. .. 0.2 0.3 0.3 0.2 0.2 0.5 0.4 0.4 Private creditors .. .. 0.2 0.1 0.1 0.1 0.1 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 .. .. 0.2 0.1 0.1 0.1 0.1 0.0 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.0 0.0 0.0 0.0 0.2 0.2 0.2 0.2 NET FLOWS ON DEBT .. .. 7.7 0.1 0.0 11.5 4.8 8.6 1.8 -0.5 Public and publicly guaranteed .. .. 7.7 0.1 0.0 11.5 4.8 8.6 1.8 -0.5 Official creditors .. .. 8.0 0.3 0.1 11.5 4.9 8.6 1.8 -0.5 Multilateral .. .. 2.8 0.5 0.4 11.8 5.1 9.1 2.3 -0.1 Concessional .. .. 3.3 0.8 0.7 11.8 5.1 9.1 2.3 -0.1 Bilateral .. .. 5.2 -0.2 -0.2 -0.3 -0.3 -0.5 -0.5 -0.5 Concessional .. .. 5.2 -0.1 -0.2 -0.2 -0.2 -0.5 -0.4 -0.4 Private creditors .. .. -0.2 -0.1 -0.1 -0.1 -0.1 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 .. .. -0.2 -0.1 -0.1 -0.1 -0.1 0.0 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.8 0.5 0.5 0.6 0.0 -0.2 -0.2 -0.2 558 VANUATU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 0.7 0.7 0.6 0.6 0.8 0.8 0.8 0.8 Public and publicly guaranteed .. .. 0.7 0.7 0.6 0.6 0.8 0.8 0.8 0.8 Official creditors .. .. 0.6 0.6 0.6 0.6 0.7 0.8 0.8 0.8 Multilateral .. .. 0.2 0.3 0.3 0.3 0.5 0.5 0.5 0.6 Concessional .. .. 0.1 0.3 0.2 0.3 0.5 0.5 0.5 0.6 Bilateral .. .. 0.4 0.3 0.3 0.3 0.3 0.3 0.2 0.2 Concessional .. .. 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 Private creditors .. .. 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 Commercial banks .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. .. 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 NET TRANSFERS ON DEBT .. .. 7.0 -0.5 -0.6 10.9 4.0 7.8 1.1 -1.3 Public and publicly guaranteed .. .. 7.0 -0.5 -0.6 10.9 4.0 7.8 1.1 -1.3 Official creditors .. .. 7.4 -0.3 -0.4 11.0 4.1 7.8 1.1 -1.3 Multilateral .. .. 2.6 0.2 0.1 11.5 4.7 8.6 1.8 -0.6 Concessional .. .. 3.2 0.5 0.4 11.5 4.7 8.6 1.8 -0.6 Bilateral .. .. 4.8 -0.5 -0.6 -0.6 -0.6 -0.8 -0.7 -0.7 Concessional .. .. 4.8 -0.4 -0.5 -0.5 -0.5 -0.7 -0.6 -0.6 Private creditors .. .. -0.4 -0.2 -0.1 -0.1 -0.1 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 .. .. -0.4 -0.2 -0.1 -0.1 -0.1 0.0 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.8 0.4 0.4 0.5 -0.1 -0.3 -0.3 -0.3 DEBT SERVICE (LTDS) .. .. 1.7 1.6 1.4 1.2 1.6 1.8 1.7 1.8 Public and publicly guaranteed .. .. 1.7 1.6 1.4 1.2 1.6 1.8 1.7 1.8 Official creditors .. .. 1.3 1.5 1.3 1.1 1.5 1.8 1.7 1.8 Multilateral .. .. 0.7 0.8 0.7 0.5 1.0 1.0 1.0 1.1 Concessional .. .. 0.1 0.4 0.4 0.5 1.0 1.0 1.0 1.1 Bilateral .. .. 0.7 0.7 0.6 0.6 0.6 0.8 0.7 0.7 Concessional .. .. 0.5 0.6 0.5 0.5 0.5 0.7 0.6 0.6 Private creditors .. .. 0.4 0.2 0.1 0.1 0.1 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 .. .. 0.4 0.2 0.1 0.1 0.1 0.0 0.0 0.0 Private 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 0.0 Memo: IBRD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. .. 0.0 0.1 0.1 0.1 0.3 0.3 0.3 0.3 UNDISBURSED DEBT .. .. 18.1 15.4 13.1 22.0 13.8 3.4 0.5 0.0 Official creditors .. .. 18.1 15.4 13.1 22.0 13.8 3.4 0.5 0.0 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. .. 25.1 40.9 38.2 53.7 63.0 66.8 64.2 69.5 Variable rate LDOD .. .. 0.8 0.3 0.2 0.1 0.0 0.0 0.0 0.0 Public sector LDOD .. .. 30.6 42.2 38.9 54.2 63.4 67.2 64.5 69.7 Private sector LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 6.6 6.8 Deutsche mark .. .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc .. .. 33.4 17.0 15.9 12.0 8.7 7.1 .. .. Japanese yen .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling .. .. 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 20.9 40.3 42.1 57.2 59.1 58.8 57.1 55.7 Multiple currency .. .. 28.7 34.6 34.3 25.5 27.9 30.2 32.5 34.1 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 16.4 8.0 7.7 5.3 4.3 3.9 3.8 3.3 559 VANUATU (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0.0 Debt forgiven .. .. 0.0 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 0.0 Debt 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 RECONCILIATION Total change in debt stocks .. .. 9.9 -1.1 0.8 15.3 1.4 4.0 -2.8 17.9 Net flows on debt .. .. 7.8 0.1 4.0 11.5 -3.1 8.9 1.8 12.1 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 .. .. 1.1 -2.2 -3.9 3.2 0.6 -4.1 -4.1 4.9 Residual .. .. 0.9 1.0 0.7 0.6 3.8 -0.7 -0.5 0.9 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 0.0 3.5 0.0 3.3 0.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 39.9 0.0 39.6 0.0 0.0 0.0 0.0 Grace period (years) .. .. 0.0 10.4 0.0 10.1 0.0 0.0 0.0 0.0 Grant element (%) .. .. 0.0 56.0 0.0 57.7 0.0 0.0 0.0 0.0 Official creditors Interest (%) .. .. 0.0 3.5 0.0 3.3 0.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 39.9 0.0 39.6 0.0 0.0 0.0 0.0 Grace period (years) .. .. 0.0 10.4 0.0 10.1 0.0 0.0 0.0 0.0 Grant element (%) .. .. 0.0 56.0 0.0 57.7 0.0 0.0 0.0 0.0 Private creditors Interest (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. 0 10 0 21 0 0 0 0 Official creditors .. .. 0 10 0 21 0 0 0 0 Private creditors .. .. 0 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 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.0 1.0 1.1 1.1 1.3 1.5 1.9 2.4 2.5 2.5 Interest 0.8 0.7 0.7 0.6 0.7 0.8 1.2 1.1 1.1 1.0 Official creditors Disbursements 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.0 1.0 1.1 1.1 1.3 1.5 1.9 2.4 2.5 2.5 Interest 0.8 0.7 0.7 0.6 0.7 0.8 1.2 1.1 1.1 1.0 Bilateral creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.4 0.4 0.4 Interest 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 Multilateral creditors Disbursements 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.6 0.5 0.6 0.6 0.8 1.0 1.4 2.0 2.0 2.1 Interest 0.6 0.5 0.5 0.4 0.5 0.6 1.0 1.0 1.0 0.9 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 560 VENEZUELA, REPUBLICA BOLIVARIANA de (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1,422 29,356 33,171 34,490 35,718 37,752 37,576 38,152 34,960 32,563 Long-term debt (LDOD) 954 13,806 28,159 29,560 29,855 34,307 34,771 33,880 31,231 28,843 Public and publicly guaranteed 718 10,625 24,509 27,746 27,368 28,350 27,969 27,748 25,215 23,265 Private nonguaranteed 236 3,181 3,650 1,814 2,487 5,957 6,802 6,132 6,015 5,578 Use of IMF credit 0 0 3,012 2,196 1,618 1,225 741 203 0 0 Short-term debt 468 15,550 2,000 2,734 4,245 2,219 2,063 4,070 3,729 3,720 of which interest arrears on LDOD 0 15 0 148 127 100 63 59 49 53 Official creditors 0 0 0 11 10 10 8 7 3 2 Private creditors 0 15 0 137 117 91 55 52 47 51 Memo: principal arrears on LDOD 0 37 0 564 368 256 121 79 5 4 Official creditors 0 0 0 105 77 77 77 68 0 0 Private creditors 0 37 0 458 292 179 44 11 5 3 Memo: export credits 0 0 2,386 4,865 3,801 1,041 1,108 1,429 1,323 963 TOTAL DEBT FLOWS Disbursements 282 4,761 4,069 2,842 7,538 7,278 3,542 2,303 3,043 2,197 Long-term debt 282 4,761 2,226 2,334 7,538 7,278 3,542 2,303 3,043 2,197 IMF purchases 0 0 1,843 508 0 0 0 0 0 0 Principal repayments 67 2,973 1,749 2,791 6,499 3,580 3,252 3,419 4,898 5,243 Long-term debt 67 2,973 1,749 2,314 6,047 3,134 2,801 2,912 4,700 5,243 IMF repurchases 0 0 0 477 452 446 452 507 198 0 Net flows on debt 215 5,555 2,036 -154 2,572 1,699 171 895 -2,185 -3,059 of which short-term debt 0 3,767 -284 -205 1,532 -1,999 -119 2,010 -331 -13 Interest payments (INT) 53 3,066 3,242 2,148 2,314 2,459 2,485 2,675 2,676 2,244 Long-term debt 53 1,476 2,993 1,870 2,020 2,199 2,317 2,437 2,468 2,114 IMF charges 0 0 37 100 93 72 44 28 6 0 Short-term debt 0 1,590 212 178 201 187 124 210 202 130 Net transfers on debt 162 2,489 -1,206 -2,302 258 -760 -2,315 -1,780 -4,862 -5,304 Total debt service paid (TDS) 120 6,038 4,991 4,939 8,813 6,039 5,738 6,094 7,574 7,487 Long-term debt 120 4,448 4,742 4,184 8,067 5,334 5,118 5,349 7,168 7,357 IMF repurchases and charges 0 0 37 577 545 518 496 535 204 0 Short-term debt (interest only) 0 1,590 212 178 201 187 124 210 202 130 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 192 1,843 933 3,534 9,150 9,343 4,058 3,665 1,953 -2,267 Net flow of long-term debt (ex. IMF) 215 1,788 477 20 1,491 4,144 741 -608 -1,657 -3,046 Foreign direct investment (net) -23 55 451 2,183 6,202 4,985 2,890 4,701 3,683 690 Portfolio equity flows 0 0 0 1,318 1,445 186 415 -461 -74 75 Grants (excluding technical coop.) 0 0 5 13 12 28 12 34 1 14 Memo: technical coop. grants 6 19 24 32 30 21 24 27 39 32 official net resource flows 4 18 1,058 -167 140 1,492 321 202 -910 -628 private net resource flows 187 1,825 -126 3,700 9,011 7,850 3,737 3,463 2,863 -1,639 NET TRANSFERS -429 45 -2,284 1,223 6,099 5,866 969 188 -1,621 -6,116 Interest on long-term debt 53 1,476 2,993 1,870 2,020 2,199 2,317 2,437 2,468 2,114 Profit remittances on FDI 568 322 224 441 1,031 1,277 771 1,040 1,106 1,735 Memo: official net transfers -16 -18 987 -444 -100 1,269 -2 -123 -1,294 -954 private net transfers -413 63 -3,272 1,667 6,199 4,597 972 311 -327 -5,162 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 12,865 69,703 47,149 68,813 86,296 93,918 101,784 120,053 124,729 91,417 Exports of goods, serv. & inc. (XGS) 2,833 22,232 21,464 26,859 27,606 21,609 24,312 37,660 30,175 29,290 Worker remit. & comp. of employees 0 0 1 4 17 17 17 17 155 239 Imports of goods & services (MGS) 2,845 17,065 12,883 18,083 23,777 25,840 22,408 25,438 27,969 21,556 International reserves (RES) 1,047 13,360 12,733 16,020 17,704 14,729 15,110 15,899 12,264 12,107 Current account balance -104 4,728 8,279 8,914 3,732 -4,432 1,837 12,052 2,058 7,539 4. DEBT INDICATORS EDT / XGS (%) 50.2 132.0 154.5 128.4 129.4 174.7 154.6 101.3 115.9 111.2 EDT / GNI (%) 11.1 42.1 70.4 50.1 41.4 40.2 36.9 31.8 28.0 35.6 TDS / XGS (%) 4.2 27.2 23.3 18.4 31.9 27.9 23.6 16.2 25.1 25.6 INT / XGS (%) 1.9 13.8 15.1 8.0 8.4 11.4 10.2 7.1 8.9 7.7 INT / GNI (%) 0.4 4.4 6.9 3.1 2.7 2.6 2.4 2.2 2.1 2.5 RES / EDT (%) 73.6 45.5 38.4 46.4 49.6 39.0 40.2 41.7 35.1 37.2 RES / MGS (months) 4.4 9.4 11.9 10.6 8.9 6.8 8.1 7.5 5.3 6.7 Short-term / EDT (%) 32.9 53.0 6.0 7.9 11.9 5.9 5.5 10.7 10.7 11.4 Concessional / EDT (%) 5.8 0.2 0.3 0.3 0.2 0.2 0.1 0.2 0.1 0.2 Multilateral / EDT (%) 17.1 0.8 4.9 8.1 7.0 8.2 8.4 8.3 9.2 10.5 561 VENEZUELA, REPUBLICA BOLIVARIANA de (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 954 13,806 28,159 29,560 29,855 34,307 34,771 33,880 31,231 28,843 Public and publicly guaranteed 718 10,625 24,509 27,746 27,368 28,350 27,969 27,748 25,215 23,265 Official creditors 366 583 1,933 4,073 3,885 5,491 5,879 5,924 4,914 4,367 Multilateral 244 227 1,640 2,790 2,492 3,107 3,169 3,158 3,201 3,428 Concessional 1 53 12 3 1 0 0 0 0 0 Bilateral 122 355 293 1,283 1,393 2,384 2,710 2,766 1,713 939 Concessional 81 8 73 102 68 63 49 63 46 57 Private creditors 352 10,043 22,577 23,673 23,484 22,859 22,090 21,823 20,302 18,898 Bonds 37 1,261 19,644 20,531 19,430 18,581 17,304 16,532 15,877 15,276 Commercial banks 237 8,159 363 1,960 2,678 2,824 3,130 3,377 3,148 3,008 Other private 78 622 2,569 1,182 1,375 1,453 1,656 1,914 1,277 614 Private nonguaranteed 236 3,181 3,650 1,814 2,487 5,957 6,802 6,132 6,015 5,578 Bonds 0 0 0 134 319 2,694 3,895 3,880 4,357 4,271 Commercial banks and other 236 3,181 3,650 1,680 2,168 3,263 2,908 2,252 1,659 1,307 Memo: IBRD 217 133 974 1,408 1,213 1,219 1,129 972 839 670 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 282 4,761 2,226 2,334 7,538 7,278 3,542 2,303 3,043 2,197 Public and publicly guaranteed 216 2,870 2,226 1,936 6,640 3,368 2,128 2,303 2,543 1,623 Official creditors 30 88 1,103 265 600 1,930 869 782 486 597 Multilateral 21 3 1,035 74 176 846 415 399 418 532 Concessional 1 2 0 0 0 0 0 0 0 0 Bilateral 9 85 69 191 425 1,084 453 382 68 65 Concessional 0 0 15 20 0 0 0 24 7 14 Private creditors 186 2,782 1,122 1,671 6,040 1,438 1,260 1,522 2,057 1,026 Bonds 0 276 599 432 4,515 500 0 462 763 212 Commercial banks 140 2,362 26 933 943 540 742 639 1,183 756 Other private 46 144 497 306 582 397 518 421 111 58 Private nonguaranteed 67 1,891 0 398 898 3,910 1,413 0 500 574 Bonds 0 0 0 95 200 2,450 1,213 0 500 0 Commercial banks and other 67 1,891 0 303 698 1,460 200 0 0 574 Memo: IBRD 15 0 840 48 91 188 119 50 78 42 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 67 2,973 1,749 2,314 6,047 3,134 2,801 2,912 4,700 5,243 Public and publicly guaranteed 42 1,738 1,576 1,717 5,822 2,694 2,245 2,256 4,087 4,243 Official creditors 26 69 50 445 473 466 560 613 1,396 1,239 Multilateral 13 34 9 272 271 289 353 356 330 384 Concessional 0 5 4 1 1 1 0 0 0 0 Bilateral 13 35 41 173 201 177 207 257 1,067 855 Concessional 4 6 0 8 25 8 8 7 7 4 Private creditors 16 1,668 1,526 1,273 5,349 2,228 1,686 1,643 2,690 3,004 Bonds 1 13 254 503 4,891 1,467 1,038 1,119 1,018 1,178 Commercial banks 5 1,324 706 69 113 430 358 370 960 1,099 Other private 10 331 566 701 345 331 290 155 712 727 Private nonguaranteed 25 1,235 173 597 225 440 555 655 613 1,000 Bonds 0 0 0 75 15 75 0 0 20 100 Commercial banks and other 25 1,235 173 522 210 365 555 655 593 900 Memo: IBRD 10 23 0 169 172 179 208 208 211 211 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 215 1,788 477 20 1,491 4,144 741 -608 -1,657 -3,046 Public and publicly guaranteed 174 1,132 650 219 818 674 -117 47 -1,543 -2,620 Official creditors 4 18 1,054 -180 128 1,464 309 169 -910 -643 Multilateral 8 -31 1,026 -198 -96 557 63 43 89 148 Concessional 1 -2 -4 -1 -1 -1 0 0 0 0 Bilateral -4 50 28 18 223 907 246 126 -999 -790 Concessional -3 -6 15 12 -25 -8 -8 17 -1 9 Private creditors 169 1,114 -404 398 691 -791 -426 -122 -633 -1,978 Bonds -1 263 345 -71 -376 -967 -1,038 -657 -255 -966 Commercial banks 134 1,038 -680 864 830 110 384 270 222 -342 Other private 36 -187 -69 -395 237 67 228 266 -601 -669 Private nonguaranteed 41 656 -173 -199 673 3,470 858 -655 -113 -426 Bonds 0 0 0 20 185 2,375 1,213 0 480 -100 Commercial banks and other 41 656 -173 -219 488 1,095 -355 -655 -593 -326 Memo: IBRD 6 -22 840 -121 -81 9 -90 -158 -133 -169 IDA 0 0 0 0 0 0 0 0 0 0 562 VENEZUELA, REPUBLICA BOLIVARIANA de (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 53 1,476 2,993 1,870 2,020 2,199 2,317 2,437 2,468 2,114 Public and publicly guaranteed 40 1,219 2,593 1,828 1,832 1,937 1,909 1,869 2,110 1,770 Official creditors 20 36 71 277 240 223 323 325 384 326 Multilateral 15 18 59 226 191 181 247 255 237 230 Concessional 0 2 0 0 0 0 0 0 0 0 Bilateral 5 18 12 51 49 42 76 71 147 96 Concessional 3 1 0 2 4 4 3 3 1 1 Private creditors 20 1,183 2,522 1,551 1,593 1,714 1,586 1,544 1,726 1,444 Bonds 3 61 135 1,402 1,422 1,501 1,376 1,327 1,325 977 Commercial banks 16 1,052 2,198 87 126 160 166 169 285 393 Other private 2 70 189 62 46 54 44 48 115 74 Private nonguaranteed 13 257 400 42 188 262 408 568 358 344 Bonds 0 0 0 10 11 31 200 304 303 339 Commercial banks and other 13 257 400 32 177 231 208 264 55 5 Memo: IBRD 13 12 19 108 87 76 88 91 75 53 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 162 312 -2,516 -1,850 -529 1,944 -1,576 -3,045 -4,125 -5,160 Public and publicly guaranteed 134 -87 -1,943 -1,609 -1,014 -1,263 -2,026 -1,822 -3,654 -4,390 Official creditors -16 -17 983 -457 -112 1,241 -14 -157 -1,295 -969 Multilateral -7 -50 967 -424 -286 376 -184 -212 -148 -83 Concessional 1 -4 -5 -1 -1 -1 0 0 0 0 Bilateral -9 32 16 -33 174 865 171 55 -1,146 -886 Concessional -6 -6 15 10 -29 -12 -11 14 -2 9 Private creditors 150 -69 -2,926 -1,153 -902 -2,505 -2,012 -1,665 -2,359 -3,422 Bonds -4 202 210 -1,472 -1,797 -2,468 -2,413 -1,984 -1,580 -1,944 Commercial banks 119 -15 -2,878 777 704 -50 217 101 -63 -735 Other private 34 -256 -258 -457 191 13 184 218 -716 -743 Private nonguaranteed 28 399 -573 -241 485 3,208 450 -1,223 -471 -770 Bonds 0 0 0 10 174 2,344 1,013 -304 177 -439 Commercial banks and other 28 399 -573 -251 311 864 -564 -919 -648 -331 Memo: IBRD -7 -35 821 -229 -168 -68 -178 -249 -208 -222 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 120 4,448 4,742 4,184 8,067 5,334 5,118 5,349 7,168 7,357 Public and publicly guaranteed 82 2,956 4,169 3,545 7,654 4,631 4,154 4,125 6,197 6,013 Official creditors 46 105 121 722 712 689 883 938 1,781 1,565 Multilateral 27 52 68 498 462 470 600 611 567 615 Concessional 0 7 5 1 1 1 0 0 0 0 Bilateral 18 53 53 223 250 219 283 327 1,214 950 Concessional 6 6 0 10 29 12 11 10 9 5 Private creditors 36 2,851 4,048 2,824 6,942 3,942 3,272 3,187 4,416 4,448 Bonds 4 74 389 1,904 6,312 2,968 2,413 2,446 2,343 2,155 Commercial banks 21 2,377 2,905 157 239 590 524 538 1,246 1,492 Other private 11 401 755 763 391 384 334 203 828 801 Private nonguaranteed 38 1,492 573 639 413 702 964 1,223 971 1,344 Bonds 0 0 0 85 26 106 200 304 323 439 Commercial banks and other 38 1,492 573 554 387 596 764 919 648 905 Memo: IBRD 22 35 19 277 259 256 297 299 287 264 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 196 364 2,985 2,243 5,599 6,039 4,152 3,320 4,328 4,845 Official creditors 106 101 1,566 2,162 3,327 3,260 2,404 1,807 1,619 1,574 Private creditors 90 263 1,419 81 2,272 2,779 1,748 1,512 2,709 3,271 Memorandum items Concessional LDOD 82 61 85 105 69 63 49 63 46 57 Variable rate LDOD 255 11,224 17,448 17,975 17,814 20,298 19,777 17,768 16,054 15,340 Public sector LDOD 682 10,288 24,509 27,185 26,888 27,876 27,507 27,298 24,778 23,040 Private sector LDOD 272 3,518 3,650 2,375 2,967 6,431 7,264 6,581 6,452 5,803 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 10.7 13.4 Deutsche mark 5.2 7.8 6.9 9.4 7.3 5.1 4.2 3.3 .. .. French franc 1.5 1.9 4.1 1.9 1.4 1.1 1.1 1.2 .. .. Japanese yen 0.0 4.9 0.6 3.8 3.1 2.8 2.7 1.9 1.3 1.2 Pound sterling 0.1 0.0 1.5 1.4 1.3 1.1 1.0 0.8 0.7 0.7 Swiss franc 4.6 0.0 0.9 0.6 0.5 0.5 0.4 0.4 0.4 0.4 U.S.dollars 54.3 82.8 78.2 70.8 75.6 82.7 84.0 83.8 80.6 77.1 Multiple currency 32.0 2.3 6.5 10.0 9.1 5.0 5.2 5.5 6.2 7.1 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies 2.3 0.3 1.3 2.0 1.8 1.6 1.3 3.1 0.1 0.1 563 VENEZUELA, REPUBLICA BOLIVARIANA de (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 17,659 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 17,630 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 0 Debt forgiven .. .. 0 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 2,361 0 4,400 0 0 0 0 0 of which debt buyback .. .. 634 0 4,000 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 792 -1,048 1,228 2,034 -176 577 -3,192 -2,397 Net flows on debt 215 5,555 2,036 -154 2,572 1,699 171 895 -2,185 -3,059 Net change in interest arrears .. .. -6 -125 -21 -27 -38 -4 -10 4 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -1,727 0 -400 0 0 0 0 0 Cross-currency valuation .. .. 379 -784 -961 433 -252 -328 -240 679 Residual .. .. 110 15 38 -72 -57 13 -757 -21 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.2 12.1 8.2 7.5 7.8 7.9 7.5 8.1 8.2 5.1 Maturity (years) 8.3 7.7 14.5 8.6 16.3 9.4 8.3 8.0 8.9 8.6 Grace period (years) 1.9 3.1 5.6 3.8 13.2 1.5 3.7 2.6 5.3 1.7 Grant element (%) 11.0 -8.5 9.5 9.3 9.0 6.8 15.4 6.2 2.4 16.9 Official creditors Interest (%) 8.0 8.3 7.8 7.3 6.7 7.0 2.0 8.0 5.7 4.6 Maturity (years) 17.7 12.4 15.6 18.0 9.7 10.2 24.9 12.7 11.3 12.9 Grace period (years) 2.9 2.7 4.9 4.5 2.2 2.5 8.4 2.6 3.4 2.3 Grant element (%) 9.4 7.1 11.8 15.9 11.9 11.4 63.2 9.9 18.7 25.1 Private creditors Interest (%) 7.0 12.3 8.5 7.6 8.0 8.7 9.0 8.2 8.5 5.4 Maturity (years) 6.8 7.5 13.6 7.3 18.1 8.6 3.5 6.3 8.5 6.8 Grace period (years) 1.7 3.1 6.1 3.7 16.2 0.5 2.4 2.6 5.6 1.4 Grant element (%) 11.3 -9.3 7.8 8.5 8.2 2.1 1.8 5.0 -0.1 13.5 Memorandum items Commitments 188 2,769 3,209 1,731 10,455 3,944 381 1,671 3,605 2,016 Official creditors 25 133 1,362 199 2,225 2,005 84 430 485 591 Private creditors 163 2,636 1,847 1,532 8,231 1,939 297 1,241 3,120 1,425 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 2,573 1,330 548 260 68 37 14 6 3 1 Principal 4,366 3,793 3,200 2,558 2,900 2,489 695 1,427 809 1,216 Interest 1,922 1,785 1,668 1,475 1,371 1,241 1,052 1,006 897 841 Official creditors Disbursements 543 470 273 157 67 37 14 6 3 1 Principal 1,128 850 715 523 493 425 359 347 312 241 Interest 261 220 181 150 125 101 81 63 45 33 Bilateral creditors Disbursements 80 68 37 16 8 4 2 0 0 0 Principal 560 224 143 39 24 18 16 16 13 13 Interest 39 19 9 5 4 3 3 2 2 1 Multilateral creditors Disbursements 463 402 237 142 59 32 12 6 3 1 Principal 568 625 572 483 468 407 343 331 299 228 Interest 222 201 171 145 121 98 78 61 44 31 Private creditors Disbursements 2,030 859 274 102 1 0 0 0 0 0 Principal 3,238 2,944 2,485 2,035 2,407 2,063 335 1,080 497 975 Interest 1,661 1,565 1,487 1,325 1,246 1,140 971 943 852 809 Commercial banks Disbursements 1,393 787 258 99 0 0 0 0 0 0 Principal 1,331 701 596 490 674 279 215 180 377 296 Interest 256 220 197 178 146 117 105 95 88 52 Other private Disbursements 200 72 16 4 1 0 0 0 0 0 Principal 1,906 2,243 1,889 1,546 1,733 1,785 121 900 120 678 Interest 1,405 1,346 1,290 1,147 1,100 1,023 867 848 764 757 564 VIETNAM (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 23,270 26,255 21,777 22,458 23,212 12,822 12,580 13,349 Long-term debt (LDOD) .. .. 21,378 21,962 18,982 19,874 20,481 11,581 11,429 12,181 Public and publicly guaranteed .. .. 21,378 21,962 18,982 19,874 20,481 11,581 11,429 12,181 Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 112 539 452 391 355 316 366 381 Short-term debt .. .. 1,780 3,754 2,342 2,193 2,376 925 785 786 of which interest arrears on LDOD .. .. 1,530 2,741 1,391 1,545 1,689 80 81 81 Official creditors .. .. 859 2,238 1,391 1,543 1,686 78 79 78 Private creditors .. .. 671 503 0 2 2 2 2 2 Memo: principal arrears on LDOD .. .. 2,011 10,573 7,359 8,043 8,596 1,380 1,379 1,377 Official creditors .. .. 1,091 10,103 7,359 8,039 8,587 1,374 1,372 1,371 Private creditors .. .. 920 470 1 4 9 6 8 6 Memo: export credits .. .. 431 866 985 1,127 874 436 495 669 TOTAL DEBT FLOWS Disbursements .. .. 13 742 1,205 1,267 1,066 1,268 1,292 905 Long-term debt .. .. 13 566 1,205 1,267 1,066 1,268 1,187 851 IMF purchases 0 0 0 175 0 0 0 0 105 54 Principal repayments .. .. 104 202 589 667 1,050 959 833 880 Long-term debt .. .. 99 202 535 589 1,024 938 789 813 IMF repurchases 0 0 5 0 54 78 26 21 44 68 Net flows on debt .. .. -95 782 554 298 55 466 319 26 of which short-term debt .. .. -4 242 -62 -303 39 158 -141 2 Interest payments (INT) .. .. 70 194 325 429 362 352 384 301 Long-term debt .. .. 46 98 268 387 326 298 354 275 IMF charges 0 0 0 10 9 6 3 3 2 2 Short-term debt .. .. 23 86 47 36 33 51 28 23 Net transfers on debt .. .. -165 588 229 -131 -307 115 -66 -274 Total debt service paid (TDS) .. .. 174 396 914 1,096 1,412 1,311 1,217 1,181 Long-term debt .. .. 146 300 804 975 1,350 1,236 1,143 1,088 IMF repurchases and charges 0 0 5 10 63 84 29 24 46 70 Short-term debt (interest only) .. .. 23 86 47 36 33 51 28 23 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 189 2,989 3,144 2,586 1,717 1,863 1,961 1,681 Net flow of long-term debt (ex. IMF) .. .. -86 364 670 679 42 330 398 39 Foreign direct investment (net) .. .. 180 2,395 2,220 1,671 1,412 1,298 1,300 1,400 Portfolio equity flows .. .. 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. 96 230 254 236 263 236 263 242 Memo: technical coop. grants .. .. 98 237 210 204 204 246 250 248 official net resource flows .. .. 9 377 632 1,280 1,086 1,273 1,252 922 private net resource flows .. .. 180 2,612 2,512 1,305 631 590 709 759 NET TRANSFERS .. .. 143 2,719 2,573 1,809 924 955 965 655 Interest on long-term debt .. .. 46 98 268 387 326 298 354 275 Profit remittances on FDI .. .. 0 172 303 390 467 611 642 750 Memo: official net transfers .. .. -17 329 545 1,166 1,021 1,196 1,068 735 private net transfers .. .. 160 2,390 2,028 643 -97 -241 -103 -79 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 6,060 24,268 26,352 26,708 28,302 30,726 32,248 35,086 Exports of goods, serv. & inc. (XGS) .. .. .. 9,638 11,851 12,104 14,175 17,481 18,155 19,821 Worker remit. & comp. of employees .. .. 0 0 0 0 0 0 2,000 2,400 Imports of goods & services (MGS) .. .. .. 12,858 14,264 14,300 14,179 18,107 18,723 22,346 International reserves (RES) .. .. .. 1,736 1,986 2,002 3,326 3,417 3,675 4,121 Current account balance .. .. .. -2,020 -1,528 -1,074 1,177 1,106 682 -604 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 272.4 183.8 185.5 163.7 73.3 69.3 67.3 EDT / GNI (%) .. .. 384.0 108.2 82.6 84.1 82.0 41.7 39.0 38.0 TDS / XGS (%) .. .. .. 4.1 7.7 9.1 10.0 7.5 6.7 6.0 INT / XGS (%) .. .. .. 2.0 2.7 3.5 2.6 2.0 2.1 1.5 INT / GNI (%) .. .. 1.2 0.8 1.2 1.6 1.3 1.1 1.2 0.9 RES / EDT (%) .. .. .. 6.6 9.1 8.9 14.3 26.6 29.2 30.9 RES / MGS (months) .. .. .. 1.6 1.7 1.7 2.8 2.3 2.4 2.2 Short-term / EDT (%) .. .. 7.7 14.3 10.8 9.8 10.2 7.2 6.2 5.9 Concessional / EDT (%) .. .. 84.9 75.8 15.3 20.0 24.0 61.3 66.4 72.3 Multilateral / EDT (%) .. .. 0.6 2.0 3.8 5.7 6.9 14.8 17.6 21.5 565 VIETNAM (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 21,378 21,962 18,982 19,874 20,481 11,581 11,429 12,181 Public and publicly guaranteed .. .. 21,378 21,962 18,982 19,874 20,481 11,581 11,429 12,181 Official creditors .. .. 20,171 20,479 14,241 15,446 16,818 8,679 9,166 10,519 Multilateral .. .. 130 526 827 1,270 1,606 1,895 2,210 2,868 Concessional .. .. 103 526 819 1,252 1,584 1,846 2,156 2,794 Bilateral .. .. 20,041 19,953 13,413 14,176 15,212 6,784 6,956 7,652 Concessional .. .. 19,646 19,384 2,504 3,235 3,977 6,016 6,194 6,862 Private creditors .. .. 1,207 1,483 4,742 4,428 3,663 2,902 2,263 1,662 Bonds .. .. 0 0 560 560 560 560 560 560 Commercial banks .. .. 684 1,213 3,484 3,136 2,322 1,685 1,101 552 Other private .. .. 523 271 698 733 781 657 602 550 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 2 59 412 569 851 989 1,113 1,344 1,715 DISBURSEMENTS .. .. 13 566 1,205 1,267 1,066 1,268 1,187 851 Public and publicly guaranteed .. .. 13 566 1,205 1,267 1,066 1,268 1,187 851 Official creditors .. .. 13 325 564 1,132 912 1,172 1,093 803 Multilateral .. .. 4 218 346 392 342 395 435 466 Concessional .. .. 0 218 338 384 338 367 430 444 Bilateral .. .. 9 107 217 739 570 777 657 337 Concessional .. .. 8 104 208 697 541 733 625 318 Private creditors .. .. 0 241 641 136 155 96 94 48 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 207 203 56 19 15 46 31 Other private .. .. 0 35 439 79 135 81 48 17 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 0 189 181 254 158 174 278 261 PRINCIPAL REPAYMENTS .. .. 99 202 535 589 1,024 938 789 813 Public and publicly guaranteed .. .. 99 202 535 589 1,024 938 789 813 Official creditors .. .. 99 178 186 88 88 134 104 123 Multilateral .. .. 3 6 6 5 6 6 5 6 Concessional .. .. 3 6 6 5 6 6 5 4 Bilateral .. .. 96 172 179 83 83 128 98 118 Concessional .. .. 43 77 56 44 58 93 70 89 Private creditors .. .. 0 25 350 501 936 804 685 689 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 6 331 432 833 622 602 603 Other private .. .. 0 19 19 69 102 182 83 86 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 1 1 1 2 2 2 2 NET FLOWS ON DEBT .. .. -86 364 670 679 42 330 398 39 Public and publicly guaranteed .. .. -86 364 670 679 42 330 398 39 Official creditors .. .. -86 147 378 1,044 823 1,037 989 680 Multilateral .. .. 1 212 340 387 336 389 430 461 Concessional .. .. -3 212 331 379 332 361 425 440 Bilateral .. .. -87 -65 38 657 487 648 559 219 Concessional .. .. -36 27 152 653 482 641 555 229 Private creditors .. .. 0 217 292 -366 -781 -708 -591 -641 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 201 -128 -376 -814 -607 -556 -572 Other private .. .. 0 16 420 10 33 -101 -35 -69 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 -1 188 180 253 156 173 277 259 566 VIETNAM (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. .. 46 98 268 387 326 298 354 275 Public and publicly guaranteed .. .. 46 98 268 387 326 298 354 275 Official creditors .. .. 26 48 87 114 64 77 184 187 Multilateral .. .. 2 3 5 8 12 14 20 22 Concessional .. .. 0 3 5 8 12 13 18 20 Bilateral .. .. 24 45 82 106 52 63 163 165 Concessional .. .. 3 18 52 53 37 48 145 147 Private creditors .. .. 20 50 181 273 261 220 170 88 Bonds .. .. 0 0 0 12 23 23 23 22 Commercial banks .. .. 4 43 165 233 197 155 116 39 Other private .. .. 16 7 16 28 41 42 31 27 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 0 2 3 5 7 7 8 11 NET TRANSFERS ON DEBT .. .. -133 266 401 292 -284 32 44 -236 Public and publicly guaranteed .. .. -133 266 401 292 -284 32 44 -236 Official creditors .. .. -112 99 290 930 759 960 805 493 Multilateral .. .. -1 209 334 379 324 375 409 438 Concessional .. .. -3 209 326 371 321 348 407 420 Bilateral .. .. -111 -110 -44 551 435 585 396 54 Concessional .. .. -39 8 99 600 445 593 410 82 Private creditors .. .. -20 167 111 -638 -1,042 -928 -762 -729 Bonds .. .. 0 0 0 -12 -23 -23 -23 -22 Commercial banks .. .. -4 158 -293 -609 -1,011 -762 -672 -611 Other private .. .. -16 9 404 -18 -8 -143 -66 -96 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 -1 186 177 248 150 165 268 248 DEBT SERVICE (LTDS) .. .. 146 300 804 975 1,350 1,236 1,143 1,088 Public and publicly guaranteed .. .. 146 300 804 975 1,350 1,236 1,143 1,088 Official creditors .. .. 125 226 273 201 153 212 287 310 Multilateral .. .. 5 9 12 13 18 20 26 28 Concessional .. .. 3 9 12 13 17 19 23 24 Bilateral .. .. 120 217 261 188 135 192 262 282 Concessional .. .. 47 95 108 97 95 140 215 236 Private creditors .. .. 20 74 530 774 1,197 1,024 856 777 Bonds .. .. 0 0 0 12 23 23 23 22 Commercial banks .. .. 4 48 495 665 1,031 777 718 642 Other private .. .. 16 26 35 97 143 224 114 113 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 3 4 5 8 9 10 12 UNDISBURSED DEBT .. .. 155 4,344 8,604 5,637 6,520 5,891 5,735 6,797 Official creditors .. .. 89 3,925 8,337 5,334 6,222 5,692 5,623 6,732 Private creditors .. .. 66 419 266 303 298 199 112 65 Memorandum items Concessional LDOD .. .. 19,750 19,910 3,323 4,488 5,561 7,862 8,351 9,656 Variable rate LDOD .. .. 847 1,075 3,498 3,287 2,561 1,981 1,373 842 Public sector LDOD .. .. 21,378 21,962 18,982 19,874 20,481 11,581 11,429 12,181 Private sector LDOD .. .. 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 7.0 8.0 Deutsche mark .. .. 1.7 1.0 0.9 0.9 0.7 1.0 .. .. French franc .. .. 1.0 1.0 1.6 1.9 2.3 3.9 .. .. Japanese yen .. .. 2.0 4.7 5.4 8.9 11.9 23.5 24.9 27.7 Pound sterling .. .. 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc .. .. 0.0 0.0 0.1 0.0 0.0 0.1 0.0 0.0 U.S.dollars .. .. 5.5 10.3 30.7 29.4 26.9 43.3 41.3 38.3 Multiple currency .. .. 0.2 0.4 1.1 1.8 2.6 5.1 5.2 5.6 Special drawing rights .. .. 0.0 0.0 0.1 0.1 0.2 0.3 0.4 0.4 All other currencies .. .. 89.3 82.3 60.1 56.9 55.4 22.7 21.0 19.8 567 VIETNAM (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 410 167 887 15 1 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 108 407 5 0 0 0 0 Official .. .. 0 108 12 5 0 0 0 0 Private .. .. 0 0 395 0 0 0 0 0 Interest rescheduled .. .. 0 0 303 5 0 0 0 0 Official .. .. 0 0 0 5 0 0 0 0 Private .. .. 0 0 303 0 0 0 0 0 Debt forgiven .. .. 0 0 0 0 0 5 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 1,631 77 0 Debt stock reduction .. .. 0 0 249 0 0 8,759 0 0 of which debt buyback .. .. 0 0 31 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 2,565 827 -4,479 681 754 -10,390 -242 769 Net flows on debt .. .. -95 782 554 298 55 466 319 26 Net change in interest arrears .. .. 372 240 -1,350 154 144 -1,609 1 0 Interest capitalized .. .. 0 0 303 5 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 -218 0 0 -8,763 0 0 Cross-currency valuation .. .. 1,793 -203 -335 183 116 -458 -524 674 Residual .. .. 495 9 -3,432 42 439 -27 -37 69 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 5.7 2.5 3.2 2.4 2.3 1.4 1.0 1.3 Maturity (years) .. .. 9.6 29.6 27.1 29.1 34.0 36.1 38.7 35.0 Grace period (years) .. .. 4.2 8.6 7.6 8.2 9.1 9.6 9.7 9.4 Grant element (%) .. .. 19.9 59.3 52.6 59.5 63.9 73.2 77.2 72.6 Official creditors Interest (%) .. .. 5.7 1.9 2.1 2.0 1.9 1.4 1.0 1.3 Maturity (years) .. .. 9.6 33.4 32.5 30.8 36.2 36.1 38.7 35.0 Grace period (years) .. .. 4.2 9.8 9.6 8.9 9.6 9.6 9.7 9.4 Grant element (%) .. .. 19.9 67.0 65.5 63.5 68.7 73.2 77.2 72.6 Private creditors Interest (%) .. .. 0.0 5.8 7.0 5.6 6.2 0.0 0.0 0.0 Maturity (years) .. .. 0.0 9.1 9.8 12.2 13.2 0.0 0.0 0.0 Grace period (years) .. .. 0.0 2.0 1.1 1.6 3.6 0.0 0.0 0.0 Grant element (%) .. .. 0.0 17.7 11.1 19.8 18.2 0.0 0.0 0.0 Memorandum items Commitments .. .. 11 1,800 2,027 1,833 1,624 1,191 1,569 1,373 Official creditors .. .. 11 1,520 1,547 1,663 1,468 1,191 1,569 1,373 Private creditors .. .. 0 280 481 170 156 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 2,011 1,588 1,106 758 518 333 207 115 88 37 Principal 448 339 398 440 516 608 640 675 681 694 Interest 280 287 295 294 307 295 285 269 253 239 Official creditors Disbursements 1,964 1,571 1,105 758 518 333 207 115 88 37 Principal 166 193 248 301 397 507 549 601 619 634 Interest 212 228 243 250 269 262 257 246 233 221 Bilateral creditors Disbursements 1,259 1,095 677 393 212 97 44 1 0 0 Principal 155 170 212 251 329 420 436 470 481 483 Interest 183 196 203 205 217 208 197 185 173 163 Multilateral creditors Disbursements 705 476 428 365 306 237 164 113 88 37 Principal 12 23 36 51 68 87 112 131 138 150 Interest 29 32 40 45 52 54 60 60 60 58 Private creditors Disbursements 47 17 1 0 0 0 0 0 0 0 Principal 282 146 150 138 119 101 91 73 61 60 Interest 69 59 52 45 38 32 28 23 21 18 Commercial banks Disbursements 38 15 1 0 0 0 0 0 0 0 Principal 193 52 48 43 35 30 28 26 22 22 Interest 21 16 15 12 10 8 7 6 4 3 Other private Disbursements 9 1 0 0 0 0 0 0 0 0 Principal 89 94 101 95 84 71 63 47 39 38 Interest 48 43 38 33 28 24 21 18 16 15 568 YEMEN, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 1,684 6,352 6,362 3,874 5,733 6,194 5,075 5,087 5,290 Long-term debt (LDOD) .. 1,453 5,160 5,622 3,434 5,232 5,372 4,059 4,277 4,563 Public and publicly guaranteed .. 1,453 5,160 5,622 3,434 5,232 5,372 4,059 4,277 4,563 Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 48 0 121 250 336 408 317 374 386 Short-term debt .. 182 1,192 619 190 165 413 699 436 341 of which interest arrears on LDOD .. 0 192 492 70 25 26 27 24 26 Official creditors .. 0 131 322 50 25 25 25 22 22 Private creditors .. 0 61 170 20 0 1 2 2 4 Memo: principal arrears on LDOD .. 7 845 2,585 632 257 274 289 245 261 Official creditors .. 3 383 1,418 469 256 273 288 243 255 Private creditors .. 4 463 1,167 163 0 1 1 2 5 Memo: export credits .. 0 338 104 143 84 70 77 77 80 TOTAL DEBT FLOWS Disbursements .. 576 305 286 286 303 343 136 278 149 Long-term debt .. 566 305 164 147 231 228 136 156 149 IMF purchases 0 10 0 122 140 72 115 0 121 0 Principal repayments .. 35 81 58 60 119 99 153 184 110 Long-term debt .. 25 79 58 60 119 65 81 132 92 IMF repurchases 0 11 1 0 0 0 34 71 53 18 Net flows on debt .. 546 386 139 219 204 491 268 -167 -57 of which short-term debt .. 6 161 -89 -7 20 247 285 -260 -97 Interest payments (INT) .. 37 88 29 38 77 79 91 75 61 Long-term debt .. 10 28 21 26 70 57 45 49 47 IMF charges 0 2 0 3 7 0 9 10 6 3 Short-term debt .. 25 60 5 5 7 13 35 20 11 Net transfers on debt .. 509 297 111 181 127 412 178 -241 -119 Total debt service paid (TDS) .. 73 169 87 98 197 178 243 259 171 Long-term debt .. 35 108 79 86 189 122 126 181 139 IMF repurchases and charges 0 13 1 3 7 0 43 81 59 21 Short-term debt (interest only) .. 25 60 5 5 7 13 35 20 11 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 944 333 155 82 18 12 224 274 280 Net flow of long-term debt (ex. IMF) .. 542 226 106 87 112 163 55 25 57 Foreign direct investment (net) .. 34 -131 -60 -139 -219 -308 6 155 114 Portfolio equity flows .. 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. 368 238 109 133 125 157 163 94 109 Memo: technical coop. grants .. 62 106 60 65 58 50 51 57 57 official net resource flows .. 847 303 216 221 235 315 218 126 166 private net resource flows .. 97 30 -60 -138 -218 -303 6 148 114 NET TRANSFERS .. 934 21 -407 -499 -236 -524 -519 -420 -477 Interest on long-term debt .. 10 28 21 26 70 57 45 49 47 Profit remittances on FDI .. 0 283 541 554 184 480 698 645 710 Memo: official net transfers 6 838 279 195 194 167 259 173 77 119 private net transfers .. 96 -259 -602 -693 -404 -783 -692 -497 -596 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 4,792 5,160 6,335 6,143 6,991 8,638 8,851 9,218 Exports of goods, serv. & inc. (XGS) .. .. 3,026 3,630 3,720 2,950 3,941 5,446 5,010 5,216 Worker remit. & comp. of employees .. 0 1,498 1,135 1,169 1,202 1,223 1,288 1,295 1,294 Imports of goods & services (MGS) .. .. 2,579 3,530 3,755 3,395 3,591 4,221 4,318 4,767 International reserves (RES) .. .. 441 1,036 1,218 1,010 1,486 2,914 3,672 4,428 Current account balance .. .. 739 106 22 -318 550 1,337 671 538 4. DEBT INDICATORS EDT / XGS (%) .. .. 209.9 175.3 104.1 194.4 157.1 93.2 101.5 101.4 EDT / GNI (%) .. .. 132.6 123.3 61.1 93.3 88.6 58.8 57.5 57.4 TDS / XGS (%) .. .. 5.6 2.4 2.6 6.7 4.5 4.5 5.2 3.3 INT / XGS (%) .. .. 2.9 0.8 1.0 2.6 2.0 1.7 1.5 1.2 INT / GNI (%) .. .. 1.8 0.6 0.6 1.3 1.1 1.1 0.8 0.7 RES / EDT (%) .. .. 6.9 16.3 31.4 17.6 24.0 57.4 72.2 83.7 RES / MGS (months) .. .. 2.1 3.5 3.9 3.6 5.0 8.3 10.2 11.1 Short-term / EDT (%) .. 10.8 18.8 9.7 4.9 2.9 6.7 13.8 8.6 6.5 Concessional / EDT (%) .. 72.0 50.7 55.4 79.6 85.7 81.8 77.3 82.0 84.2 Multilateral / EDT (%) .. 15.0 16.2 21.4 35.9 28.2 28.3 33.0 32.6 34.4 569 YEMEN, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 1,453 5,160 5,622 3,434 5,232 5,372 4,059 4,277 4,563 Public and publicly guaranteed .. 1,453 5,160 5,622 3,434 5,232 5,372 4,059 4,277 4,563 Official creditors .. 1,238 3,502 3,903 3,252 5,148 5,300 3,996 4,227 4,504 Multilateral .. 253 1,026 1,359 1,391 1,616 1,754 1,676 1,658 1,820 Concessional .. 253 990 1,303 1,331 1,523 1,658 1,636 1,630 1,800 Bilateral .. 985 2,476 2,544 1,861 3,532 3,546 2,320 2,569 2,683 Concessional .. 961 2,231 2,219 1,751 3,391 3,406 2,289 2,542 2,652 Private creditors .. 216 1,658 1,719 182 83 72 63 50 59 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 80 80 80 61 57 53 50 59 Other private .. 216 1,578 1,639 102 22 15 10 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 137 602 893 934 1,075 1,216 1,216 1,237 1,384 DISBURSEMENTS .. 566 305 164 147 231 228 136 156 149 Public and publicly guaranteed .. 566 305 164 147 231 228 136 156 149 Official creditors .. 501 139 164 147 229 223 136 156 149 Multilateral .. 65 56 161 145 200 221 111 117 125 Concessional .. 65 55 134 134 187 210 102 117 125 Bilateral .. 436 84 3 2 29 2 25 39 25 Concessional .. 426 84 3 2 29 2 24 35 23 Private creditors .. 65 166 0 0 2 5 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 2 5 0 0 0 Other private .. 65 166 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 28 27 95 89 121 173 65 77 83 PRINCIPAL REPAYMENTS .. 25 79 58 60 119 65 81 132 92 Public and publicly guaranteed .. 25 79 58 60 119 65 81 132 92 Official creditors .. 23 74 58 60 119 65 81 125 92 Multilateral .. 3 41 54 60 112 55 60 69 62 Concessional .. 3 26 45 55 87 49 52 59 53 Bilateral .. 20 34 4 0 7 10 20 56 30 Concessional .. 16 34 4 0 7 10 20 54 29 Private creditors .. 2 5 0 0 0 0 0 7 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 0 1 0 Other private .. 2 5 0 0 0 0 0 6 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 2 9 10 11 12 14 17 19 NET FLOWS ON DEBT .. 542 226 106 87 112 163 55 25 57 Public and publicly guaranteed .. 542 226 106 87 112 163 55 25 57 Official creditors .. 478 65 106 87 110 158 55 31 57 Multilateral .. 62 15 107 86 88 166 50 48 63 Concessional .. 62 29 89 78 99 160 50 58 72 Bilateral .. 416 50 -1 2 22 -9 5 -17 -6 Concessional .. 410 50 -1 2 22 -9 4 -18 -6 Private creditors .. 63 161 0 0 2 5 0 -7 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 2 5 0 -1 0 Other private .. 63 161 0 0 0 0 0 -6 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 28 25 86 79 111 160 51 60 64 570 YEMEN, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) .. 10 28 21 26 70 57 45 49 47 Public and publicly guaranteed .. 10 28 21 26 70 57 45 49 47 Official creditors .. 9 23 21 26 68 56 45 48 47 Multilateral .. 5 14 18 21 32 20 21 21 21 Concessional .. 5 12 16 17 27 18 19 19 20 Bilateral .. 4 9 3 6 36 36 24 27 25 Concessional .. 4 9 3 0 27 34 22 25 24 Private creditors .. 1 5 0 0 2 1 0 1 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 1 1 0 0 0 Other private .. 1 5 0 0 0 0 0 0 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 3 6 7 7 8 9 9 10 NET TRANSFERS ON DEBT .. 531 197 85 61 42 106 10 -24 10 Public and publicly guaranteed .. 531 197 85 61 42 106 10 -24 10 Official creditors .. 469 42 85 61 42 102 10 -17 10 Multilateral .. 57 1 89 65 56 146 29 26 41 Concessional .. 57 17 73 61 72 142 31 39 52 Bilateral .. 412 41 -4 -4 -14 -44 -19 -43 -31 Concessional .. 405 41 -4 2 -5 -43 -18 -44 -30 Private creditors .. 62 156 0 0 0 4 -1 -7 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 4 -1 -1 0 Other private .. 62 156 0 0 0 0 0 -6 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 27 22 80 72 104 152 42 51 54 DEBT SERVICE (LTDS) .. 35 108 79 86 189 122 126 181 139 Public and publicly guaranteed .. 35 108 79 86 189 122 126 181 139 Official creditors .. 32 97 79 86 188 121 126 173 139 Multilateral .. 7 55 72 81 144 75 82 90 83 Concessional .. 7 38 62 72 115 67 71 78 72 Bilateral .. 24 43 7 6 43 46 44 83 56 Concessional .. 21 43 7 0 34 44 43 79 53 Private creditors .. 3 10 0 0 2 1 1 7 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 1 1 1 1 0 Other private .. 3 10 0 0 0 0 0 6 0 Private 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 0 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 1 6 15 16 18 20 23 26 29 UNDISBURSED DEBT .. 1,598 1,665 807 776 790 706 736 819 914 Official creditors .. 1,261 1,215 807 776 784 706 736 819 914 Private creditors .. 336 450 0 0 6 0 0 0 0 Memorandum items Concessional LDOD .. 1,213 3,221 3,522 3,082 4,914 5,064 3,925 4,171 4,452 Variable rate LDOD .. 0 80 80 80 8 8 8 3 3 Public sector LDOD .. 1,453 5,160 5,622 3,434 5,232 5,372 4,059 4,277 4,563 Private sector LDOD .. 0 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 2.7 3.0 Deutsche mark .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. French franc .. 1.5 0.8 1.3 1.7 2.6 2.1 2.2 .. .. Japanese yen .. 0.6 4.4 5.1 7.3 11.7 12.6 7.8 5.9 7.2 Pound sterling .. 3.2 0.7 0.6 1.0 0.3 0.3 0.3 0.1 0.1 Swiss franc .. 2.8 0.3 0.3 0.4 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 22.4 20.2 23.1 56.3 64.6 65.3 67.9 64.6 64.2 Multiple currency .. 0.1 1.6 1.4 0.5 0.2 0.2 0.2 0.2 0.2 Special drawing rights .. 0.0 2.5 2.9 4.8 4.5 4.5 5.6 5.2 5.2 All other currencies .. 69.5 69.5 65.3 28.0 16.2 15.0 15.9 21.4 20.0 571 YEMEN, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 98 80 685 203 95 123 619 77 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 98 24 559 63 50 107 231 7 Official .. .. 98 24 268 60 47 105 231 7 Private .. .. 0 0 292 3 3 2 0 0 Interest rescheduled .. .. 0 17 95 12 12 10 1 6 Official .. .. 0 17 61 11 11 9 1 6 Private .. .. 0 0 34 1 1 1 0 0 Debt forgiven .. .. 0 1 2,173 8 9 9 24 0 Memo: interest forgiven .. .. 0 0 338 0 0 0 0 0 Debt stock reduction .. .. 0 0 0 0 0 0 35 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 759 145 -2,488 1,859 461 -1,118 11 203 Net flows on debt .. 546 386 139 219 204 491 268 -167 -57 Net change in interest arrears .. .. 82 19 -422 -45 1 1 -3 2 Interest capitalized .. .. 0 17 95 12 12 10 1 6 Debt forgiveness or reduction .. .. 0 -1 -2,173 -8 -9 -9 -60 0 Cross-currency valuation .. .. 233 -131 -168 -10 11 -139 -110 188 Residual .. .. 58 101 -40 1,706 -44 -1,250 349 64 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 2.7 1.8 1.2 0.5 2.1 1.5 0.9 2.3 1.3 Maturity (years) .. 26.9 28.6 34.2 39.7 30.0 35.2 36.5 29.9 36.5 Grace period (years) .. 5.8 7.2 8.9 10.2 8.3 8.8 9.6 7.8 9.6 Grant element (%) .. 54.4 61.3 72.3 82.7 62.5 71.0 76.7 60.9 74.2 Official creditors Interest (%) .. 2.4 1.8 1.2 0.5 2.1 1.5 0.9 2.3 1.3 Maturity (years) .. 28.3 28.6 34.2 39.7 30.0 35.2 36.5 29.9 36.5 Grace period (years) .. 6.0 7.2 8.9 10.2 8.3 8.8 9.6 7.8 9.6 Grant element (%) .. 57.2 61.3 72.3 82.7 62.5 71.0 76.7 60.9 74.2 Private creditors Interest (%) .. 4.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. 18.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. 4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. 37.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. 553 201 276 149 130 211 301 279 212 Official creditors .. 476 201 276 149 130 211 301 279 212 Private creditors .. 78 0 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 174 161 140 115 97 74 51 33 26 15 Principal 200 148 148 150 152 162 162 164 166 168 Interest 54 55 55 54 52 51 49 47 44 42 Official creditors Disbursements 174 161 140 115 97 74 51 33 26 15 Principal 197 145 145 146 148 158 158 160 162 165 Interest 53 54 54 53 52 50 48 46 44 42 Bilateral creditors Disbursements 7 5 3 2 1 1 1 1 0 0 Principal 137 84 85 84 81 85 85 82 80 77 Interest 30 30 28 27 26 24 23 22 21 20 Multilateral creditors Disbursements 167 156 137 113 96 73 50 33 26 15 Principal 60 61 60 62 67 73 73 78 83 87 Interest 23 24 25 26 26 26 25 24 23 22 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3 3 4 4 4 4 4 4 4 4 Interest 1 1 1 1 1 1 1 1 1 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3 3 4 4 4 4 4 4 4 4 Interest 1 1 1 1 1 1 1 1 1 0 Other private 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 0 572 ZAMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 814 3,244 6,916 7,068 6,668 6,879 5,868 5,731 5,671 5,969 Long-term debt (LDOD) 654 2,211 4,554 5,391 5,270 5,361 4,584 4,514 4,513 4,846 Public and publicly guaranteed 624 2,124 4,552 5,375 5,257 5,332 4,511 4,449 4,394 4,737 Private nonguaranteed 30 87 2 16 12 28 73 65 119 108 Use of IMF credit 0 447 949 1,198 1,138 1,188 1,171 1,138 982 1,015 Short-term debt 160 586 1,414 479 261 331 113 79 175 108 of which interest arrears on LDOD 0 6 739 153 140 137 39 36 35 40 Official creditors 0 3 671 120 114 121 29 26 25 30 Private creditors 0 3 68 33 26 15 10 10 9 10 Memo: principal arrears on LDOD 0 33 1,493 724 751 761 156 142 141 151 Official creditors 0 20 1,389 618 661 699 127 114 114 123 Private creditors 0 13 104 106 90 62 29 28 27 28 Memo: export credits 0 0 1,123 1,170 1,468 912 772 610 612 986 TOTAL DEBT FLOWS Disbursements 374 690 164 236 286 84 264 287 308 341 Long-term debt 374 599 164 236 272 84 250 261 213 170 IMF purchases 0 90 0 0 14 0 14 26 95 172 Principal repayments 45 269 126 156 165 132 58 98 80 199 Long-term debt 41 212 101 156 165 132 58 98 38 137 IMF repurchases 4 57 25 0 0 0 0 0 42 62 Net flows on debt 329 360 -127 169 -84 25 85 159 325 70 of which short-term debt 0 -61 -165 89 -205 73 -121 -30 97 -72 Interest payments (INT) 31 141 77 95 81 70 90 88 45 109 Long-term debt 31 115 72 75 65 55 77 80 37 102 IMF charges 0 26 2 11 6 6 6 6 5 5 Short-term debt 0 0 3 8 10 9 7 3 3 2 Net transfers on debt 298 219 -203 74 -165 -45 -5 71 280 -39 Total debt service paid (TDS) 76 410 202 251 246 202 149 186 125 308 Long-term debt 72 326 173 231 230 187 135 177 75 240 IMF repurchases and charges 4 84 27 11 6 6 6 6 47 67 Short-term debt (interest only) 0 0 3 8 10 9 7 3 3 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 37 521 929 470 566 408 714 699 517 577 Net flow of long-term debt (ex. IMF) 333 387 63 80 107 -49 192 163 174 32 Foreign direct investment (net) -297 62 203 117 207 198 162 122 72 197 Portfolio equity flows 0 0 0 0 1 1 13 -1 0 0 Grants (excluding technical coop.) 2 72 663 273 250 257 347 415 271 348 Memo: technical coop. grants 13 87 128 142 133 97 92 108 99 118 official net resource flows 18 346 736 379 365 241 497 587 392 392 private net resource flows 20 175 193 91 202 167 217 112 125 185 NET TRANSFERS 7 322 743 349 437 302 600 586 449 445 Interest on long-term debt 31 115 72 75 65 55 77 80 37 102 Profit remittances on FDI 0 84 115 46 64 51 36 33 31 30 Memo: official net transfers 12 293 693 312 312 193 425 511 359 292 private net transfers -5 29 50 37 126 110 176 75 91 153 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,742 3,594 3,008 3,064 3,705 3,022 2,975 3,080 3,469 3,542 Exports of goods, serv. & inc. (XGS) .. 1,625 1,362 .. 1,299 964 923 918 1,106 1,138 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 1,987 2,336 .. 1,633 1,511 1,353 1,484 1,787 .. International reserves (RES) 515 206 201 223 239 69 45 245 183 535 Current account balance .. -516 -594 .. -152 -570 -386 -553 .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 199.7 507.8 .. 513.4 713.4 636.0 624.6 512.9 524.3 EDT / GNI (%) 46.7 90.3 229.9 230.7 180.0 227.6 197.2 186.1 163.5 168.5 TDS / XGS (%) .. 25.2 14.9 .. 18.9 21.0 16.1 20.2 11.3 27.1 INT / XGS (%) .. 8.7 5.6 .. 6.3 7.2 9.8 9.6 4.1 9.6 INT / GNI (%) 1.8 3.9 2.5 3.1 2.2 2.3 3.0 2.9 1.3 3.1 RES / EDT (%) 63.3 6.4 2.9 3.2 3.6 1.0 0.8 4.3 3.2 9.0 RES / MGS (months) .. 1.2 1.0 .. 1.8 0.6 0.4 2.0 1.2 .. Short-term / EDT (%) 19.7 18.1 20.4 6.8 3.9 4.8 1.9 1.4 3.1 1.8 Concessional / EDT (%) 6.3 24.6 29.9 49.5 52.3 53.0 60.2 62.4 62.7 65.7 Multilateral / EDT (%) 7.6 12.1 20.2 30.7 32.5 32.6 39.7 42.0 42.9 46.1 573 ZAMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 654 2,211 4,554 5,391 5,270 5,361 4,584 4,514 4,513 4,846 Public and publicly guaranteed 624 2,124 4,552 5,375 5,257 5,332 4,511 4,449 4,394 4,737 Official creditors 120 1,485 4,108 5,199 5,087 5,220 4,478 4,418 4,364 4,707 Multilateral 61 393 1,400 2,169 2,166 2,242 2,331 2,409 2,435 2,752 Concessional 0 19 579 1,839 1,923 2,031 2,138 2,252 2,298 2,623 Bilateral 59 1,091 2,708 3,030 2,921 2,977 2,148 2,009 1,929 1,956 Concessional 51 778 1,487 1,663 1,565 1,617 1,393 1,326 1,259 1,297 Private creditors 503 639 444 177 170 113 33 31 30 30 Bonds 55 3 0 0 0 0 0 0 0 0 Commercial banks 0 77 70 17 21 21 1 0 0 0 Other private 449 560 374 160 149 92 32 31 30 30 Private nonguaranteed 30 87 2 16 12 28 73 65 119 108 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 30 87 2 16 12 28 73 65 119 108 Memo: IBRD 61 346 539 105 62 41 33 25 17 10 IDA 0 2 274 1,405 1,493 1,587 1,704 1,823 1,869 2,144 DISBURSEMENTS 374 599 164 236 272 84 250 261 213 170 Public and publicly guaranteed 363 593 162 232 272 64 200 251 153 170 Official creditors 22 311 117 224 222 64 200 251 153 170 Multilateral 6 56 106 213 211 64 198 249 152 169 Concessional 0 6 41 205 207 59 191 244 142 167 Bilateral 16 254 11 11 12 0 3 2 0 0 Concessional 16 237 9 0 3 0 2 2 0 0 Private creditors 341 282 46 8 50 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 0 5 5 0 0 0 0 0 Other private 341 273 46 4 44 0 0 0 0 0 Private nonguaranteed 11 6 2 5 0 20 50 10 60 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 11 6 2 5 0 20 50 10 60 0 Memo: IBRD 6 28 0 0 0 0 0 0 0 0 IDA 0 2 3 181 169 43 156 210 126 141 PRINCIPAL REPAYMENTS 41 212 101 156 165 132 58 98 38 137 Public and publicly guaranteed 35 180 101 154 161 128 53 80 33 126 Official creditors 6 36 44 117 108 80 51 79 32 126 Multilateral 4 18 39 88 76 57 39 51 21 40 Concessional 0 0 2 14 13 19 12 22 6 16 Bilateral 2 18 5 29 32 23 11 28 10 86 Concessional 1 3 0 19 20 8 3 18 7 45 Private creditors 29 144 57 37 53 48 2 1 1 1 Bonds 7 3 0 0 0 0 0 0 0 0 Commercial banks 0 4 0 4 1 0 2 0 0 0 Other private 22 137 57 33 52 48 0 1 1 1 Private nonguaranteed 6 31 0 2 4 4 6 18 5 11 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 6 31 0 2 4 4 6 18 5 11 Memo: IBRD 4 18 5 47 34 21 9 8 8 6 IDA 0 0 0 3 4 4 4 4 5 0 NET FLOWS ON DEBT 333 387 63 80 107 -49 192 163 174 32 Public and publicly guaranteed 328 412 61 78 111 -65 148 171 120 43 Official creditors 16 274 72 107 114 -17 150 172 121 44 Multilateral 1 38 67 124 134 6 158 198 131 130 Concessional 0 6 39 190 194 40 179 222 137 151 Bilateral 15 236 5 -18 -20 -23 -8 -26 -10 -86 Concessional 15 234 9 -19 -16 -8 -1 -17 -7 -45 Private creditors 312 138 -11 -29 -4 -48 -2 -1 -1 -1 Bonds -7 -3 0 0 0 0 0 0 0 0 Commercial banks 0 5 0 1 5 0 -2 0 0 0 Other private 319 136 -11 -30 -8 -48 0 -1 -1 -1 Private nonguaranteed 5 -25 2 3 -4 16 44 -8 55 -11 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 5 -25 2 3 -4 16 44 -8 55 -11 Memo: IBRD 1 10 -5 -47 -34 -21 -9 -8 -8 -6 IDA 0 2 3 178 166 39 152 206 122 141 574 ZAMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 31 115 72 75 65 55 77 80 37 102 Public and publicly guaranteed 29 105 72 75 65 55 73 76 33 100 Official creditors 6 52 43 67 53 48 72 76 33 99 Multilateral 4 33 33 46 39 29 33 33 9 21 Concessional 0 0 3 17 15 14 17 19 7 12 Bilateral 2 19 10 21 14 19 40 42 24 78 Concessional 2 13 9 12 5 9 25 22 16 37 Private creditors 23 53 29 8 12 7 1 0 0 0 Bonds 3 1 0 0 0 0 0 0 0 0 Commercial banks 0 12 0 1 1 0 0 0 0 0 Other private 20 40 29 7 12 7 0 0 0 0 Private nonguaranteed 2 10 0 0 0 0 4 4 3 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 10 0 0 0 0 4 4 3 3 Memo: IBRD 4 31 1 11 6 4 3 3 2 1 IDA 0 0 0 9 10 11 12 13 7 5 NET TRANSFERS ON DEBT 302 273 -9 5 42 -103 115 83 138 -70 Public and publicly guaranteed 299 307 -11 3 45 -119 75 95 86 -57 Official creditors 10 222 29 39 61 -65 77 96 87 -56 Multilateral -2 5 34 78 95 -23 126 165 122 109 Concessional 0 6 36 174 179 26 163 203 130 139 Bilateral 12 217 -5 -39 -34 -42 -48 -69 -35 -164 Concessional 13 221 0 -31 -22 -17 -25 -38 -23 -83 Private creditors 289 85 -40 -37 -16 -55 -3 -1 -1 -1 Bonds -10 -4 0 0 0 0 0 0 0 0 Commercial banks 0 -6 0 0 4 0 -2 0 0 0 Other private 299 96 -40 -37 -20 -54 -1 -1 -1 -1 Private nonguaranteed 3 -35 2 2 -4 16 40 -12 51 -14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 -35 2 2 -4 16 40 -12 51 -14 Memo: IBRD -2 -21 -5 -58 -41 -25 -12 -10 -10 -8 IDA 0 2 3 169 155 28 140 193 115 135 DEBT SERVICE (LTDS) 72 326 173 231 230 187 135 177 75 240 Public and publicly guaranteed 64 286 173 229 226 183 126 156 66 226 Official creditors 12 89 87 184 161 128 123 155 65 225 Multilateral 8 51 72 134 116 87 72 84 30 61 Concessional 0 0 5 31 28 33 29 41 12 28 Bilateral 4 37 16 50 45 42 51 70 35 164 Concessional 3 16 9 31 25 17 28 40 23 83 Private creditors 52 197 85 45 66 55 3 1 1 1 Bonds 10 4 0 0 0 0 0 0 0 0 Commercial banks 0 15 0 5 1 0 2 0 0 0 Other private 42 177 85 40 64 54 1 1 1 1 Private nonguaranteed 8 41 0 2 4 4 10 22 9 14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 41 0 2 4 4 10 22 9 14 Memo: IBRD 8 48 5 58 41 25 12 10 10 8 IDA 0 0 0 13 14 15 16 17 12 5 UNDISBURSED DEBT 309 877 690 559 507 529 551 599 491 376 Official creditors 291 679 587 550 503 529 551 599 491 376 Private creditors 18 198 103 9 4 0 0 0 0 0 Memorandum items Concessional LDOD 51 797 2,066 3,502 3,487 3,648 3,532 3,578 3,557 3,920 Variable rate LDOD 30 280 494 732 738 738 502 401 412 373 Public sector LDOD 624 2,107 4,551 5,329 5,209 5,284 4,472 4,418 4,364 4,712 Private sector LDOD 30 104 2 62 60 76 112 96 149 134 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 8.5 8.1 Deutsche mark 0.4 9.4 10.4 10.2 9.3 9.8 6.0 4.7 .. .. French franc 0.9 3.2 3.0 2.5 2.5 2.6 2.2 1.5 .. .. Japanese yen 0.0 4.8 10.0 12.2 10.6 12.5 16.0 13.9 11.9 11.8 Pound sterling 17.7 10.6 8.5 8.4 9.2 7.7 4.7 3.9 3.4 3.0 Swiss franc 0.0 0.0 0.6 0.1 0.1 0.1 0.1 0.1 0.1 0.1 U.S.dollars 53.7 20.2 28.1 41.1 44.3 43.9 55.6 61.6 65.6 66.8 Multiple currency 9.9 16.7 17.5 8.2 7.0 6.7 7.6 6.9 6.3 6.0 Special drawing rights 0.0 0.0 1.0 0.1 0.1 0.2 0.4 0.5 0.5 0.5 All other currencies 17.4 35.0 21.0 17.1 16.9 16.6 7.4 7.0 3.7 3.8 575 ZAMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 690 203 127 78 274 169 114 34 Debt stock rescheduled .. .. 38 0 0 0 0 0 0 0 Principal rescheduled .. .. 466 121 55 22 181 105 67 21 Official .. .. 342 121 55 22 181 105 67 21 Private .. .. 123 0 0 0 0 0 0 0 Interest rescheduled .. .. 321 81 72 55 92 63 47 11 Official .. .. 299 81 72 55 92 63 47 11 Private .. .. 22 0 0 0 0 0 0 0 Debt forgiven .. .. 114 23 1 2 53 39 38 31 Memo: interest forgiven .. .. 22 7 1 0 37 18 31 18 Debt stock reduction .. .. 26 0 0 0 0 0 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 351 102 -400 211 -1,012 -137 -60 298 Net flows on debt 329 360 -127 169 -84 25 85 159 325 70 Net change in interest arrears .. .. 29 -26 -13 -3 -98 -3 -1 5 Interest capitalized .. .. 321 81 72 55 92 63 47 11 Debt forgiveness or reduction .. .. -140 -23 -1 -2 -53 -39 -38 -31 Cross-currency valuation .. .. 303 -489 -693 -205 -100 -290 -232 356 Residual .. .. -34 390 319 341 -937 -28 -161 -113 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.2 6.7 8.1 2.0 1.7 0.8 0.8 0.8 0.9 0.8 Maturity (years) 20.6 18.6 16.2 35.7 32.6 39.4 39.6 39.6 43.2 39.5 Grace period (years) 10.2 4.4 4.8 9.3 7.4 9.9 10.1 10.1 15.1 10.0 Grant element (%) 42.8 22.1 14.8 70.0 64.7 80.2 80.4 80.4 81.4 80.3 Official creditors Interest (%) 1.4 3.7 6.3 2.0 0.5 0.8 0.8 0.8 0.9 0.8 Maturity (years) 32.6 29.0 21.8 35.7 37.9 39.4 39.6 39.6 43.2 39.5 Grace period (years) 21.6 8.5 6.9 9.3 8.9 9.9 10.1 10.1 15.1 10.0 Grant element (%) 79.2 48.9 26.3 70.0 76.6 80.2 80.4 80.4 81.4 80.3 Private creditors Interest (%) 6.6 8.8 11.0 0.0 7.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 10.4 11.0 6.9 0.0 7.8 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.5 1.4 1.4 0.0 0.3 0.0 0.0 0.0 0.0 0.0 Grant element (%) 12.1 2.6 -4.1 0.0 8.8 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 556 635 192 143 253 75 213 330 93 44 Official creditors 255 267 120 143 209 75 213 330 93 44 Private creditors 302 368 72 0 44 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 88 81 65 52 35 22 15 9 4 1 Principal 193 184 155 144 148 144 151 154 158 165 Interest 117 110 103 99 94 90 85 81 76 72 Official creditors Disbursements 88 81 65 52 35 22 15 9 4 1 Principal 181 172 143 133 137 133 140 143 148 154 Interest 114 107 101 97 93 89 84 80 76 72 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 125 112 84 67 68 69 73 75 75 78 Interest 84 79 74 71 68 65 62 58 55 52 Multilateral creditors Disbursements 88 81 65 52 35 22 15 9 4 1 Principal 56 60 60 66 69 64 67 68 73 76 Interest 30 29 27 26 25 24 23 22 21 20 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 12 12 11 11 11 11 11 11 11 11 Interest 3 3 2 2 2 1 1 1 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 12 12 11 11 11 11 11 11 11 11 Interest 3 3 2 2 2 1 1 1 0 0 576 ZIMBABWE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 232 786 3,247 4,976 4,919 4,669 4,440 3,911 3,726 4,066 Long-term debt (LDOD) 229 696 2,649 3,737 3,556 3,494 3,325 3,065 2,936 3,269 Public and publicly guaranteed 229 696 2,464 3,309 3,103 3,294 3,085 2,855 2,760 3,123 Private nonguaranteed 0 0 185 428 453 200 240 210 175 146 Use of IMF credit 0 0 7 437 385 407 369 281 262 280 Short-term debt 3 90 591 801 977 768 746 565 528 517 of which interest arrears on LDOD 3 0 0 0 0 0 0 52 156 287 Official creditors 3 0 0 0 0 0 0 39 127 239 Private creditors 0 0 0 0 0 0 0 13 30 47 Memo: principal arrears on LDOD 67 0 0 2 5 9 13 163 519 967 Official creditors 4 0 0 1 0 1 0 106 388 757 Private creditors 63 0 0 1 5 8 12 57 131 210 Memo: export credits 0 0 660 852 877 219 211 263 299 353 TOTAL DEBT FLOWS Disbursements 0 132 424 447 496 570 437 171 40 25 Long-term debt 0 132 424 447 496 517 403 171 40 25 IMF purchases 0 0 0 0 0 53 34 0 0 0 Principal repayments 5 40 270 423 459 763 454 292 72 33 Long-term debt 5 40 247 414 433 715 392 222 64 30 IMF repurchases 0 0 24 9 26 48 62 70 9 3 Net flows on debt -5 148 335 142 213 -402 -38 -354 -174 -150 of which short-term debt 0 55 181 119 176 -209 -21 -233 -142 -142 Interest payments (INT) 5 26 201 238 228 218 193 160 51 25 Long-term debt 5 10 149 182 174 165 143 108 32 19 IMF charges 0 0 2 12 10 10 9 10 2 0 Short-term debt 0 15 49 44 44 43 41 42 16 6 Net transfers on debt -9 122 134 -96 -15 -620 -231 -514 -225 -174 Total debt service paid (TDS) 9 65 471 661 686 981 647 452 123 58 Long-term debt 9 50 396 596 607 880 535 329 96 49 IMF repurchases and charges 0 0 26 20 36 58 70 80 11 3 Short-term debt (interest only) 0 15 49 44 44 43 41 42 16 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS -5 221 364 322 323 400 210 86 66 155 Net flow of long-term debt (ex. IMF) -5 93 177 32 62 -198 11 -51 -24 -5 Foreign direct investment (net) 0 2 -12 81 135 444 59 23 4 26 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 0 127 199 209 126 154 140 114 86 134 Memo: technical coop. grants 1 70 103 109 111 98 86 77 79 66 official net resource flows -5 199 278 279 265 254 142 106 95 158 private net resource flows 0 22 85 43 58 145 68 -20 -29 -3 NET TRANSFERS -9 133 122 46 32 134 -37 -95 -40 59 Interest on long-term debt 5 10 149 182 174 165 143 108 32 19 Profit remittances on FDI 0 78 92 94 118 101 105 73 74 77 Memo: official net transfers -9 197 212 161 150 149 31 42 83 156 private net transfers -1 -64 -90 -115 -118 -15 -68 -136 -123 -97 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,854 6,610 8,494 8,260 8,018 5,345 5,150 6,961 8,811 .. Exports of goods, serv. & inc. (XGS) .. 1,724 2,035 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0 13 1 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 1,895 2,287 .. .. .. .. .. .. .. International reserves (RES) 59 419 295 834 384 310 480 321 119 132 Current account balance .. -149 -140 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 45.6 159.5 .. .. .. .. .. .. .. EDT / GNI (%) 12.5 11.9 38.2 60.2 61.3 87.4 86.2 56.2 42.3 .. TDS / XGS (%) .. 3.8 23.1 .. .. .. .. .. .. .. INT / XGS (%) .. 1.5 9.9 .. .. .. .. .. .. .. INT / GNI (%) 0.2 0.4 2.4 2.9 2.8 4.1 3.7 2.3 0.6 .. RES / EDT (%) 25.6 53.4 9.1 16.8 7.8 6.6 10.8 8.2 3.2 3.2 RES / MGS (months) .. 2.7 1.5 .. .. .. .. .. .. .. Short-term / EDT (%) 1.4 11.5 18.2 16.1 19.9 16.4 16.8 14.4 14.2 12.7 Concessional / EDT (%) 18.9 1.9 27.9 28.3 27.6 31.2 32.1 34.7 34.6 36.3 Multilateral / EDT (%) 17.5 0.4 19.6 31.7 32.8 36.7 36.6 38.0 38.2 38.6 577 ZIMBABWE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 229 696 2,649 3,737 3,556 3,494 3,325 3,065 2,936 3,269 Public and publicly guaranteed 229 696 2,464 3,309 3,103 3,294 3,085 2,855 2,760 3,123 Official creditors 85 101 1,508 2,728 2,650 2,876 2,720 2,527 2,441 2,756 Multilateral 41 3 637 1,575 1,612 1,715 1,624 1,485 1,425 1,569 Concessional 0 0 129 417 478 532 559 546 524 567 Bilateral 44 98 870 1,153 1,038 1,162 1,096 1,042 1,016 1,187 Concessional 44 15 778 990 877 924 868 811 763 910 Private creditors 145 595 956 581 453 418 365 328 320 367 Bonds 145 592 293 90 60 30 0 0 0 0 Commercial banks 0 3 208 202 160 185 205 192 190 242 Other private 0 0 456 289 233 203 160 136 130 125 Private nonguaranteed 0 0 185 428 453 200 240 210 175 146 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 185 428 453 200 240 210 175 146 Memo: IBRD 41 3 381 513 473 498 473 416 392 421 IDA 0 0 67 335 399 442 452 437 418 450 DISBURSEMENTS 0 132 424 447 496 517 403 171 40 25 Public and publicly guaranteed 0 132 297 305 351 361 314 151 40 25 Official creditors 0 77 158 238 329 291 224 130 33 25 Multilateral 0 0 72 149 275 154 123 46 -1 2 Concessional 0 0 7 26 92 39 44 16 -1 2 Bilateral 0 77 86 89 54 137 101 85 34 23 Concessional 0 1 76 39 28 43 67 35 0 23 Private creditors 0 55 139 67 22 70 90 21 7 0 Bonds 0 52 0 0 0 0 0 0 0 0 Commercial banks 0 3 29 64 18 54 77 15 6 0 Other private 0 0 111 3 4 16 13 5 1 0 Private nonguaranteed 0 0 127 142 145 156 90 20 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 127 142 145 156 90 20 0 0 Memo: IBRD 0 0 40 38 49 44 31 19 0 0 IDA 0 0 0 12 83 29 20 8 -2 0 PRINCIPAL REPAYMENTS 5 40 247 414 433 715 392 222 64 30 Public and publicly guaranteed 5 40 229 319 313 306 342 173 28 1 Official creditors 5 5 78 168 190 190 222 138 24 1 Multilateral 4 3 46 111 124 125 141 94 13 1 Concessional 0 0 4 6 6 4 4 1 0 0 Bilateral 1 2 32 57 65 65 81 44 11 0 Concessional 1 2 17 41 44 45 48 13 4 0 Private creditors 0 34 151 151 124 116 120 35 4 0 Bonds 0 19 30 30 30 30 30 0 0 0 Commercial banks 0 0 46 47 44 35 41 12 2 0 Other private 0 16 75 75 49 51 49 23 3 0 Private nonguaranteed 0 0 18 95 120 409 50 49 35 29 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 18 95 120 409 50 49 35 29 Memo: IBRD 4 3 33 46 46 47 51 46 11 0 IDA 0 0 0 1 1 1 0 0 0 0 NET FLOWS ON DEBT -5 93 177 32 62 -198 11 -51 -24 -5 Public and publicly guaranteed -5 93 68 -15 37 55 -28 -22 12 24 Official creditors -5 72 80 70 139 101 2 -8 9 24 Multilateral -4 -3 26 38 150 29 -18 -49 -14 1 Concessional 0 0 3 21 86 35 40 16 -1 2 Bilateral -1 75 54 32 -11 72 20 41 23 23 Concessional -1 -1 59 -2 -16 -2 18 22 -3 23 Private creditors 0 21 -11 -85 -102 -46 -30 -14 3 0 Bonds 0 34 -30 -30 -30 -30 -30 0 0 0 Commercial banks 0 3 -17 17 -27 19 36 4 5 0 Other private 0 -16 36 -72 -45 -35 -36 -18 -2 0 Private nonguaranteed 0 0 109 47 25 -253 40 -29 -35 -29 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 109 47 25 -253 40 -29 -35 -29 Memo: IBRD -4 -3 7 -8 3 -3 -20 -27 -11 0 IDA 0 0 0 11 83 28 20 7 -2 0 578 ZIMBABWE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 INTEREST PAYMENTS (LINT) 5 10 149 182 174 165 143 108 32 19 Public and publicly guaranteed 5 10 141 160 151 135 136 78 16 7 Official creditors 4 1 67 118 115 105 110 64 12 2 Multilateral 2 0 43 88 85 79 77 46 4 1 Concessional 0 0 1 4 4 5 4 2 0 0 Bilateral 2 1 24 30 29 26 33 18 7 2 Concessional 2 1 15 19 18 15 17 7 4 1 Private creditors 0 9 74 43 36 30 26 13 4 4 Bonds 0 7 13 5 3 2 1 0 0 0 Commercial banks 0 0 28 12 12 11 11 6 2 3 Other private 0 1 33 26 21 17 14 8 2 2 Private nonguaranteed 0 0 9 22 23 30 6 30 17 12 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 9 22 23 30 6 30 17 12 Memo: IBRD 2 0 33 41 36 32 32 26 4 0 IDA 0 0 0 2 2 3 3 1 0 0 NET TRANSFERS ON DEBT -9 82 28 -150 -111 -363 -132 -159 -56 -24 Public and publicly guaranteed -9 82 -72 -175 -113 -80 -165 -100 -4 17 Official creditors -9 71 13 -48 24 -4 -109 -72 -3 22 Multilateral -6 -3 -17 -50 65 -50 -96 -95 -18 0 Concessional 0 0 1 17 82 30 36 14 -1 1 Bilateral -3 74 30 2 -41 46 -13 23 15 21 Concessional -3 -2 43 -21 -35 -17 1 16 -7 22 Private creditors -1 12 -85 -127 -137 -76 -56 -28 -1 -4 Bonds -1 26 -43 -35 -33 -32 -31 0 0 0 Commercial banks 0 3 -46 5 -39 7 25 -2 3 -3 Other private 0 -17 3 -98 -65 -51 -50 -26 -4 -2 Private nonguaranteed 0 0 100 25 2 -283 33 -59 -52 -41 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 100 25 2 -283 33 -59 -52 -41 Memo: IBRD -6 -3 -26 -49 -33 -35 -51 -53 -15 0 IDA 0 0 0 8 80 25 17 6 -2 0 DEBT SERVICE (LTDS) 9 50 396 596 607 880 535 329 96 49 Public and publicly guaranteed 9 50 370 479 464 441 478 251 44 8 Official creditors 9 7 145 285 305 295 332 202 36 3 Multilateral 6 3 89 199 210 204 219 140 17 1 Concessional 0 0 5 10 10 8 8 2 0 0 Bilateral 3 3 56 87 95 91 114 62 18 2 Concessional 3 3 33 60 63 60 65 19 7 1 Private creditors 1 43 225 194 159 146 146 48 8 4 Bonds 1 26 43 35 33 32 31 0 0 0 Commercial banks 0 0 74 59 56 46 52 17 4 3 Other private 0 17 107 101 70 68 63 31 4 2 Private nonguaranteed 0 0 27 117 143 439 56 79 52 41 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 27 117 143 439 56 79 52 41 Memo: IBRD 6 3 66 87 82 79 83 72 15 0 IDA 0 0 0 3 3 4 3 2 0 0 UNDISBURSED DEBT 0 86 1,093 1,399 1,232 1,321 1,203 1,032 745 606 Official creditors 0 60 992 1,344 1,074 1,139 1,097 951 675 397 Private creditors 0 26 101 55 158 182 105 80 70 210 Memorandum items Concessional LDOD 44 15 906 1,407 1,356 1,455 1,427 1,358 1,288 1,477 Variable rate LDOD 0 3 699 962 945 739 750 670 613 615 Public sector LDOD 229 696 2,463 3,309 3,103 3,253 3,019 2,787 2,695 3,044 Private sector LDOD 0 0 186 428 453 241 306 278 241 225 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. 30.3 32.2 Deutsche mark 0.0 0.1 11.7 11.3 10.5 11.1 11.0 11.3 .. .. French franc 0.0 0.0 7.2 6.8 6.0 6.2 5.7 4.9 .. .. Japanese yen 0.0 0.0 2.1 3.2 2.9 3.3 4.9 5.4 4.8 5.2 Pound sterling 76.2 40.3 14.0 6.8 6.0 5.5 6.0 5.5 5.5 6.0 Swiss franc 0.0 0.0 1.2 0.8 0.6 0.5 0.4 0.4 0.4 0.4 U.S.dollars 0.3 0.4 30.3 25.8 27.5 26.9 27.2 29.1 30.4 29.0 Multiple currency 20.2 59.2 18.4 26.7 26.9 25.8 25.7 25.1 24.8 23.4 Special drawing rights 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 0.4 0.3 All other currencies 3.4 0.0 15.1 18.2 19.2 20.3 18.8 17.8 3.5 3.5 579 ZIMBABWE (US$ million, unless otherwise indicated) 1970 1980 1990 1996 1997 1998 1999 2000 2001 2002 7. DEBT RESTRUCTURINGS 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 0 Debt forgiven .. .. 24 0 0 0 5 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt 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 RECONCILIATION Total change in debt stocks .. .. 456 -31 -57 -250 -229 -529 -186 341 Net flows on debt -5 148 335 142 213 -402 -38 -354 -174 -150 Net change in interest arrears .. .. -1 -3 0 0 0 52 105 130 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -24 0 0 0 -5 0 0 0 Cross-currency valuation .. .. 145 -256 -275 40 -182 -175 -122 272 Residual .. .. 0 86 6 113 -5 -51 5 88 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 7.1 6.6 3.1 5.3 2.7 1.3 5.0 7.1 9.4 Maturity (years) 0.0 15.2 17.2 25.3 15.7 21.4 19.8 12.8 8.1 2.3 Grace period (years) 0.0 5.5 4.5 7.4 3.8 5.9 5.3 3.6 1.6 0.7 Grant element (%) 0.0 25.8 21.2 50.8 27.1 51.3 56.8 27.1 9.9 0.6 Official creditors Interest (%) 0.0 4.9 6.4 2.8 4.1 1.6 0.9 4.8 7.1 2.0 Maturity (years) 0.0 16.8 17.7 27.3 20.5 24.5 21.0 12.9 8.1 27.7 Grace period (years) 0.0 5.7 4.7 8.0 5.0 6.9 5.6 3.6 1.6 9.4 Grant element (%) 0.0 35.6 22.4 54.9 39.1 61.3 60.8 28.0 9.9 63.4 Private creditors Interest (%) 0.0 17.2 8.7 5.8 6.8 6.8 5.0 6.9 7.4 9.5 Maturity (years) 0.0 7.8 9.6 7.2 9.2 9.1 8.0 12.4 10.1 2.1 Grace period (years) 0.0 4.5 1.2 1.2 2.1 2.0 2.5 3.1 1.1 0.7 Grant element (%) 0.0 -18.7 3.5 12.6 10.7 12.4 18.1 14.6 9.7 0.1 Memorandum items Commitments 0 171 455 305 312 431 227 42 34 182 Official creditors 0 140 425 275 180 344 205 39 33 2 Private creditors 0 31 30 30 132 88 21 3 0 180 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL Disbursements 254 183 67 43 25 14 8 5 2 0 Principal 480 392 274 247 239 207 156 130 116 88 Interest 106 87 67 57 48 38 30 25 20 17 Official creditors Disbursements 132 102 66 42 25 14 8 5 2 0 Principal 301 237 226 207 198 181 144 127 115 86 Interest 80 69 61 52 44 36 30 25 20 17 Bilateral creditors Disbursements 84 61 36 22 11 5 3 1 0 0 Principal 114 107 104 85 77 67 59 57 52 48 Interest 28 25 23 20 18 16 15 13 12 11 Multilateral creditors Disbursements 48 41 29 20 14 9 6 4 1 0 Principal 188 130 122 122 121 114 85 70 63 38 Interest 52 44 38 32 26 20 15 11 8 6 Private creditors Disbursements 122 81 2 1 0 0 0 0 0 0 Principal 179 155 47 40 40 26 12 3 2 1 Interest 26 18 7 5 4 2 1 0 0 0 Commercial banks Disbursements 115 76 0 0 0 0 0 0 0 0 Principal 125 118 18 11 11 10 8 2 0 0 Interest 15 9 4 3 2 1 1 0 0 0 Other private Disbursements 7 5 2 1 0 0 0 0 0 0 Principal 54 38 29 29 29 16 3 1 1 1 Interest 12 9 3 2 2 1 0 0 0 0 . Country notes Albania Federation, receiving an upfront discount of 70 per- Data source. Data on long-term public and cent on the stock and interest arrears and a resched- publicly guaranteed debt as of 2002 are based on uling of the remainder over 20 years. reports provided by the country. Short-term debt data are from the BIS semiannual series on inter- Argentina national bank lending and short-term export cred- Data source. Data on long-term public and its from the OECD. publicly guaranteed debt for 2002 are preliminary Rescheduling. Albania concluded a reschedul- and based on partial reports provided by the coun- ing agreement with official creditors outside of try. Provincial debt, long-term private nonguaran- formal Paris Club auspices in December 1993 and teed debt and short-term debt data are World a debt buyback operation in 1996. Bank staff estimates. The increase in debt out- standing in 1989 is due mostly to the conversion Algeria of austral-denominated time deposits and govern- Data source. Data on long-term public and ment domestic debt into dollar-denominated publicly guaranteed debt as of 2002 are based on bonds (BONEX 89). reports provided by the country. Short-term debt Debt reduction. In March 1993 Argentina data and long-term private nonguaranteed debt concluded a debt and debt service reduction ex- are also as reported by the country. changing its commercial bank debt to either par Rescheduling. Projected debt service is based or discount bonds for a total face value of $17 bil- on contractual obligations on debt outstanding at lion. Interest arrears were also swapped into the end of 2002. It includes the effects of all Paris bonds at par with a face value of $8.2 billion, after Club agreements signed until December 2002 and a down payment of $910 million. These opera- the commercial bank agreement signed in July tions enabled Argentina to reduce its stock of debt 1996. by $3.3 billion in 1993, $399 million in 1994, and $863 million in 1995. Data for 2000 include debt Angola buybacks. Data source. Data on long-term public and Other. The residual in debt stock-flow reconcil- publicly guaranteed debt for 2002 are based on iation is due to data revisions introduced in 1993. reports provided by the country. Short-term debt It includes the effects of the 2001 mega bond swap data are from the BIS semiannual series on inter- operation. national bank lending and short-term export cred- its from the OECD, supplemented by World Bank Armenia staff estimates. Data source. Data on long-term public and Rescheduling. It includes the effects of all publicly guaranteed debt for 2002 are actual, Paris Club agreements signed until December based on reports provided by the country. Short- 2002. Debt owed to Portugal and Spain was term debt data are from the BIS semiannual series rescheduled in 1994. In late 1996 Angola reached on international bank lending and short-term a debt restructuring agreement with the Russian export credits from the OECD. 581 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 Rescheduling. In 1993, $30.8 million of tech- Bhutan nical credits were rescheduled with the Russian Data source. Data on long-term public and Federation, and in 1996, $34.0 million were publicly guaranteed debt for 2002 are based on rescheduled with bilateral creditors. reports provided by the country. Short-term debt data are from the BIS semiannual series on inter- Azerbaijan national bank lending and short-term export cred- Data source. Data on long-term public and its from the OECD. publicly guaranteed debt for 2002 are based on reports provided by the country. Short-term debt Bolivia data are from the BIS semiannual export credits Data source. Data on long-term public and from the OECD. publicly guaranteed debt and on private nonguar- Rescheduling. In 1993, $36 million of techni- anteed debt for 2002 are based on reports pro- cal credits were rescheduled with the Russian vided by the country. Short-term debt data are Federation. World Bank staff estimates. Rescheduling. Projected debt service is based Bangladesh on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2002. It includes the effects of all Paris publicly guaranteed debt for 2002 are based on Club agreements, signed until December 2002. reports provided by the country. Short-term debt data are from the BIS semiannual series on inter- Bosnia and Herzegovina national bank lending and short-term export cred- Data source. Data on long-term public and its from the OECD. publicly guaranteed debt for 2002 are based on re- ports provided by the country. Prior to 1999 data Belarus on long-term public and publicly guaranteed debt Data source. Data on long-term public and include only the IBRD and IMF. Short-term debt publicly guaranteed debt for 2002 are based on data are from the BIS semiannual series on inter- reports provided by the country. Short-term debt national bank lending and short-term export cred- data are from the BIS semiannual series on inter- its from the OECD. national bank lending and short-term export cred- Rescheduling. Projected debt service is based its from the OECD. on contractual obligations on debt outstanding at Rescheduling. In 1993, $385 million of tech- the end of 2002. It includes the effects of all Paris nical credits were rescheduled with the Russian Club agreements signed until December 2002. Federation. Botswana Belize Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2002 are based on publicly guaranteed debt for 2002 are based on reports provided by the country. Short-term debt reports provided by the country. Short-term debt data are from the BIS semiannual series on inter- data are World Bank staff estimates. national bank lending and short-term export cred- its from the OECD. Benin Data source. Data on long-term public and Brazil publicly guaranteed debt for 2002 are based on Data source. Data on long-term public and reports provided by the country. Short-term debt publicly guaranteed and private nonguaranteed data are from the BIS semiannual series on inter- debt for 2002 are preliminary, based on partial national bank lending and short-term export cred- reports provided by the country. Short-term debt its from the OECD. data are from the BIS semiannual series on inter- Rescheduling. Projected debt service is based national bank lending and short-term export cred- on contractual obligations on debt outstanding at its from the OECD. the end of 2002. It includes the effects of all Paris Rescheduling. From 1983 onward, the in- Club agreements signed until December 2002. crease in long-term public and publicly guaranteed 582 C O U N T R Y N O T E S debt is due to the transfer of liabilities from private Rescheduling. Projected debt service is based nonguaranteed and short-term debt as a result of on contractual obligations on debt outstanding at Paris Club and commercial bank restructuring. In the end of 2002. It includes the effect of the can- 1992 an agreement was reached with Paris Club cellation of all concessional debt owed to Belgium, creditors to reschedule $6.2 billion, of which France, the Republic of Korea, and the Russian $5.1 billion corresponded to rescheduling of ar- Federation. In 1989 Burundi rescheduled $13.3 mil- rears and debt service due in 1992. Brazil also re- lion of debt owed to China. scheduled $7.1 billion of interest in arrears with commercial banks. Interest payments for 1992 in- Cambodia clude a $836 million cash payment on the interest Data source. Data on long-term public and arrears. publicly guaranteed debt for 2002 are based on Debt reduction. Debt owed to commercial reports provided by the country and World Bank banks at the end of 1994 was reduced by $4.1 bil- staff estimates. Short-term debt data are from the lion as a result of the April 1994 Brady accord. BIS semiannual series on international bank lend- Data for 2002 include debt buybacks. ing and short-term export credits from the OECD. Bulgaria Rescheduling. Projected debt service is based Data source. Data on long-term public and on contractual obligations on debt outstanding at publicly guaranteed and private nonguaranteed the end of 2002. It includes the effects of all Paris debt for 2002 are based on reports provided by Club agreements signed until December 2002. the country. Short-term debt data are from the BIS semiannual series on international bank lending Cameroon and short-term export credits from the OECD. Data source. Data on long-term and publicly Rescheduling. Projected debt service is based guaranteed debt for 2002 are based on reports on contractual obligations on debt outstanding at provided by the country and World Bank staff esti- the end of 2002. It includes the effects of the Paris mates. Long-term private nonguaranteed debt Club agreements signed in 1991, 1992, and 1994. data are reported by the country. Short-term debt Commercial bank creditors agreed to restructure data are from the BIS semiannual series on inter- $8.3 billion of external public debt in July 1994. national bank lending and short-term export cred- It includes the effects of the exchange of Brady its from the OECD. Bonds for Global Bonds in 2002. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at Burkina Faso the end of 2001. It includes the effects of all Paris Data source. Data on long-term public and Club agreements signed until December 2002. publicly guaranteed debt for 2002 are based on reports provided by the country. Short-term debt Cape Verde data are from the BIS semiannual series on interna- Data source. Data on long-term public and tional bank lending and short-term export credits publicly guaranteed debt for 2002 are based on from the OECD. the reports provided by the country. Short-term Rescheduling. Projected debt service is based debt data are World Bank staff estimates. on contractual obligations on debt outstanding at the end of 2002. It includes the effects of all Paris Central African Republic Club agreements signed until December 2002. Data source. Data on long-term public and publicly guaranteed debt for 2002 are World Bank Burundi staff estimates. Short-term debt data are from the Data source. Data on long-term public and BIS semiannual series on international bank lend- publicly guaranteed debt for 2002 are based on ing and short-term export credits from the OECD. reports provided by the country. Short-term debt Rescheduling. Projected debt service is based data are from the BIS semiannual series on inter- on contractual obligations on debt outstanding at national bank lending and short-term export cred- the end of 2002. It includes the effects of all Paris its from the OECD. Club agreements signed until December 2002. 583 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 Chad Colombia Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2002 are based on publicly guaranteed debt for 2002 are based on re- reports provided by the country. Short-term debt ports provided by the country. Data on long-term data are from the BIS semiannual series on inter- private nonguaranteed debt are World Bank staff national bank lending and short-term export cred- estimates. Short-term debt data are World Bank its from the OECD. staff estimates. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at Comoros the end of 2001. It includes the effect of the debt Data source. Data on long-term public and relief agreement signed in 1989, concluded out- publicly guaranteed debt for 2002 are based on side the Paris Club. In addition, it includes the reports provided by the country. Short-term debt effects of all Paris Club agreements signed until data are from the BIS semiannual series on interna- December 2002. tional bank lending and short-term export credits from the OECD. Chile Data source. Data on long-term public and Congo, Democratic Republic of publicly guaranteed, private nonguaranteed, and Data source. Data on long-term public and short-term debt for 2002 are based on reports pro- publicly guaranteed debt for 2002 are based on vided by the country. Short-term debt data for reports provided by the country. Short-term debt 1990­99 have been revised. data are from the BIS semiannual series on inter- Rescheduling. Projected debt service is based national bank lending and short-term export cred- on contractual obligations on debt outstanding at its from the OECD. the end of 2002. It includes the effect of a 1990 Rescheduling. Projected debt service is based agreement with commercial banks under which on contractual obligations on debt outstanding at there was no repayment of principal during the end of 2002. It includes the effects of all Paris 1991­94. The data also reflect the forgiveness of Club agreements signed until December 2002. $15 million and the rescheduling of $132 million under the Enterprise for the Americas Initiative. Congo, Republic of Debt reduction. By end-1993 reduction of Data source. Data on long-term public and debt owed to commercial banks through vari- publicly guaranteed debt for 2002 are World Bank ous debt conversion programs reached $8.7 bil- staff estimates. Short-term debt data are from the lion, including $2.5 billion in 1988, $2.5 billion BIS semiannual series on international bank lend- in 1989, $1.1 billion in 1990, $496 million in ing and short-term export credits from the OECD. 1991, $279 million in 1992, and $264 million in Rescheduling. Projected debt service is based 1993. Also, 1988 principal repayments include a on contractual obligations on debt outstanding at $164 million cash payment in connection with a the end of 2002. It includes the effects of all Paris buyback. Club agreements signed until December 2002. In 1986, in addition to Paris Club, the government rescheduled with Eastern Bloc creditors. Under the China 1986 Brazzaville Club agreement, $23 million was Data source. Data on long-term public and rescheduled. publicly guaranteed debt and private nonguaran- teed debt for 2002 are World Bank staff prelimi- Costa Rica nary estimates based on reported aggregate data. Data source. Data on long-term public and State-owned enterprises are responsible for servic- publicly guaranteed debt for 2002 are based on re- ing their external debt exposures, and their oblig- ports provided by the country. Long-term private ations are not guaranteed by the Ministry of nonguaranteed debt data are World Bank staff Finance. Short-term and private nonguaranteed estimates. Short-term debt data are from the BIS debt data for 1999­2002 are reported by the semiannual series on international bank lending country. and short-term export credits from the OECD. 584 C O U N T R Y N O T E S Côte d'Ivoire reports provided by the country. Short-term debt Data source. Data on long-term public and data are World Bank staff estimates. publicly guaranteed debt for 2002 are World Bank Debt reduction. As part of its Caribbean ini- staff estimates. Long-term private nonguaranteed tiative, Canada forgave all its official development debt data are World Bank staff estimates. Long-term assistance loans, about $1.7 million, in 1990. private nonguaranteed debt data are World Bank staff estimates. Short-term debt data are from the Dominican Republic BIS semiannual series on international bank lending Data source. Data on long-term public and and short-term export credits from the OECD. publicly guaranteed debt for 2002 are based on Rescheduling. Projected debt service is based reports provided by the country. Short-term debt on contractual obligations on debt outstanding at data are from the BIS semiannual series on inter- the end of 2002. It includes the effects of all Paris national bank lending and short-term export cred- Club agreements signed until December 2002. its from the OECD. Rescheduling. Projected debt service is based Croatia on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2002. It includes the effects of all Paris publicly guaranteed and private nonguaranteed Club agreements signed until December 2002 and debt for 2002 are based on reports provided by debt service reduction agreement to restructure the country. Short-term debt data are from the $1.2 billion owed to commercial banks. Croatia National Bank. Other. Croatia became a member of the Ecuador World Bank in 1993. Debt data includes the ef- Data source. Data on long-term public and fects of all Paris Club agreements signed until publicly guaranteed and private nonguaranteed December 2002 and the London Club agreement debt for 2002 are World Bank staff estimates. signed in March 1996. Short-term debt data are based on reports pro- vided by the country. Czech Republic Rescheduling. Projected debt service is based on Data source. Data on long-term public and contractual obligations on debt outstanding at the publicly guaranteed, private nonguaranteed, and end of 2002. It includes the effects of the Paris Club short-term debt for 2002 are preliminary, based on agreement on Houston terms signed in September partial reports provided by the country, and in- 2000 and of the 2000 bond exchange operation. clude only convertible currency debt. Debt reduction. The debt conversion program Other. The Czech Republic became a member was continued in 1992, enabling the country to of the World Bank in 1993. Data for 1985­92 reduce its stock of debt due to private creditors by are based on preliminary information on the suc- about $50 million, bringing the total for 1987­92 cession of the former Czechoslovakia (effective to $539 million. Debt reduction resulting from the January 1, 1993). 1995 DDSR operations amounts to $1.2 billion. Djibouti Egypt, Arab Republic of Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2002 are based on publicly guaranteed debt for 2002 and revised reports provided by the country. Short-term debt data for 1991­95 due to the third stage of the data are from the BIS semiannual series on interna- 1991 Paris Club agreement are based on reports tional bank lending and short-term export credits provided by the country. Data on private nonguar- from the OECD. Data includes the effects of all Paris anteed debt are World Bank staff estimates. Short- Club agreements signed until December 2002. term debt data are from the BIS semiannual series on international bank lending and short-term ex- port credits from OECD. Dominica Rescheduling. Projected debt service is based Data source. Data on long-term public and on contractual obligations on debt outstanding publicly guaranteed debt for 2002 are based on at the end of 2002. It includes the effects of the 585 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 third stage of the Paris Club agreement signed in Club agreements signed until December 2002, and May 1991. the debt forgiveness operation from the Russian Federation. El Salvador Data source. Data on long-term public and Fiji publicly guaranteed debt for 2002 are based on Data source. Data on long-term public and reports provided by the country. Long-term private publicly guaranteed debt for 2002 are based on nonguaranteed debt data are World Bank staff reports provided by the country. Long-term pri- estimates. Short-term debt data are from the BIS vate nonguaranteed debt data are World Bank semiannual series on international bank lending staff estimates. Short-term debt data are from the and short-term export credits from the OECD. BIS semiannual series on international bank lend- ing and short-term export credits from the Equatorial Guinea OECD. Data source. Data on long-term public and publicly guaranteed debt for 2002 are estimates Gabon based on the original terms of the loans. Short- Data source. Data on long-term public and term debt data are World Bank staff estimates. publicly guaranteed debt for 2002 are based on Rescheduling. Projected debt service is based reports provided by the country and World Bank on contractual obligations on debt outstanding staff estimates. Short-term debt data are from the at the end of 2002. It includes the effects of all BIS semiannual series on international bank lend- Paris Club agreements signed until December ing and short-term export credits from the 2002. OECD. Rescheduling. Projected debt service is based Eritrea on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2001. It includes the effects of all Paris publicly guaranteed debt for 2002 are based on Club agreements signed until December 2002. reports provided by the country. Short-term debt data are from the BIS semiannual series on inter- Gambia, The national bank lending and short-term export cred- Data source. Data on long-term public and its from the OECD. publicly guaranteed debt for 2002 are based on reports provided by the country. Short-term debt Estonia data are from the BIS semiannual series on inter- Data source. Data on long-term public debt national bank lending and short-term export cred- for 2002 are based on reports provided by the its from the OECD. country. Private nonguaranteed and short-term debt data have been revised starting from 1996 Georgia based on reports provided by the country and Data source. Data on long-term public and World Bank staff estimates. publicly guaranteed debt for 2002 are based on reports provided by the country. Short-term debt Ethiopia data are from the BIS semiannual series on inter- Data source. Data on long-term public and national bank lending and short-term export cred- publicly guaranteed debt for 2002 are based on its from the OECD. reports provided by the country. Short-term debt Rescheduling. In 1993 a total of $366 mil- data are from the BIS semiannual series on inter- lion of technical credits were rescheduled with national bank lending and short-term export cred- Armenia ($10.6 million), Azerbaijan ($2.1 mil- its from the OECD. The data include debt con- lion), Kazakhstan ($17.9 million), the Russian tracted from commercial sources for military Federation ($135.0 million), and Turkmenistan expenditures. ($200.8 million). In 1996, $634 million were Rescheduling. Projected debt service is based rescheduled with bilateral creditors. It includes the on contractual obligations on debt outstanding at effects of all Paris Club agreements signed until the end of 2002. It includes the effects of all Paris December 2002. 586 C O U N T R Y N O T E S Ghana Guyana Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2002 are based on re- publicly guaranteed and private nonguaranteed ports provided by the country. Long-term private debt for 2002 are based on reports provided by nonguaranteed debt data are World Bank staff the country. Short-term debt data are from the BIS estimates. Short-term debt data are from the BIS semiannual series on international bank lending semiannual series on international bank lending and short-term export credits from the OECD. and short-term export credits from the OECD. Rescheduling. Projected debt service is based Haiti on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2002. It includes the effects of all Paris publicly guaranteed debt as of end-September 2002 Club agreements signed until December 2002. are preliminary, based on partial reports provided by the country. Short-term debt data are from the Grenada BIS semiannual series on international bank lend- Data source. Data on public and publicly ing and short-term export credits from the OECD. guaranteed debt for 2002 are based on reports provided by the country. Short-term debt data are Honduras from the BIS semiannual series on international Data source. Data on long-term public and bank lending and short-term export credits from publicly guaranteed and private nonguaranteed the OECD. debt for 2002 are based on reports provided by the country. Short-term debt data are from the BIS Guatemala semiannual series on international bank lending Data source. Data on long-term public and and short-term export credits from the OECD. publicly guaranteed debt for 2002 are based on re- Rescheduling. Projected debt service is based ports provided by the country. Long-term private on contractual obligations on debt outstanding at nonguaranteed debt data are World Bank staff the end of 2002. It includes the effects of all Paris estimates. Short-term debt data are World Bank Club agreements signed until December 2002. staff estimates. Debt reduction. In August 2001, the first phase of debt buyback operation, funded by IDA Guinea Debt Reduction Facility and co-financed by Data source. Data on long-term public and the governments of Netherlands, Norway, and publicly guaranteed debt for 2002 are World Switzerland was completed. This operation extin- Bank staff estimates. Short-term debt data are guished $13 million of the total $14.5 million of from the BIS semiannual series on international eligible debt. bank lending and short-term export credits from the OECD. Hungary Rescheduling. Projected debt service is based Data source. Data on long-term public and on contractual obligations on debt outstanding at publicly guaranteed and private nonguaranteed the end of 2002. It includes the effects of all Paris debt for 2002 are based on reports provided by Club agreements signed until December 2002. the country. Short-term debt data are from the BIS semiannual series on international bank lending Guinea-Bissau and short-term export credits from the OECD. Data source. Data on long-term public and publicly guaranteed debt for 2002 are World Bank India staff estimates. Short-term debt data are from the Data source. Data relate to the year ending BIS semiannual series on international bank lend- in March (latest data are for the year ending in ing and short-term export credits from the OECD. March 2003). Long-term public and publicly guar- Rescheduling. Projected debt service is based anteed, private nonguaranteed, and short-term on contractual obligations on debt outstanding at debt as of the end of March 2003 are based on the end of 2002. It includes the effects of all Paris reports provided by the country and World Bank Club agreements signed until December 2002. staff estimates. 587 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 Indonesia the country. Private nonguaranteed debt includes Data source. Data on long-term public and only registered private debt of National Bank of publicly guaranteed debt for 2002 are preliminary Kazakhstan. Short-term debt data are from the based on partial reports provided by the country. BIS semiannual series on international bank Short-term debt data (1993 to 2001) are World lending and short-term export credits from the Bank staff estimates. (The debt data may include OECD. indistinguishable local currency components held Rescheduling. In 1993, $1.3 billion of techni- by nonresidents.) cal credits were rescheduled with the Russian Other. The residual in debt stock flow recon- Federation. ciliation from 1994 onward reflects the private nonguaranteed stock revisions introduced without Kenya corresponding flow data adjustments. Data source. Data on long-term public and Rescheduling. Projected debt service is based publicly guaranteed debt for 2002 are actual, on contractual obligations on debt outstanding at based on reports provided by the country. Long- the end of 2002. It includes the effects of all Paris term private nonguaranteed debt are World Bank Club agreements signed until December 2002. staff estimates. Short-term debt data are from the BIS semiannual series on international bank lend- Iran, Islamic Republic of ing and short-term export credits from the Data source. Data relate to the year ending in OECD. March. Long-term public and publicly guaranteed Rescheduling. Projected debt service is based debt and short-term debt as of end-March 2002 on contractual obligations on debt outstanding at are based on aggregate reports provided by the the end of 2002. It includes the effects of all Paris country. Long-term private nonguaranteed debt Club agreements signed until December 2002. are World Bank staff estimates. The January 2004 Paris Club agreement is not reflected in the data. Jamaica Data source. Data on long-term public and Kyrgyz Republic publicly guaranteed debt for 2002 are based on Data source. Data on long-term public and reports provided by the country. Long-term pri- publicly guaranteed debt for 2002 are based on vate nonguaranteed debt data are World Bank reports provided by the country. Short-term debt staff estimates. Short-term debt data are from the data are from the BIS semiannual series on inter- BIS semiannual series on international bank lend- national bank lending and short-term export cred- ing and short-term export credits from the its from the OECD. OECD. Rescheduling. In 1993 a total of $125.8 mil- lion-of technical credits were rescheduled with Jordan Kazakhstan ($31.5 million), the Russian Federation Data source. Data on long-term public and ($81.0 million), and Uzbekistan ($13.3 million). publicly guaranteed debt for 2002 are based on In 1996, $220.4 million were rescheduled with reports provided by the country. Short-term debt bilateral creditors. It includes the effects of all data are from the BIS semiannual series on inter- Paris Club agreements signed until December national bank lending and short-term export cred- 2002. its from the OECD. Rescheduling. Projected debt service is based Lao People's Democratic Republic on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2002. It reflects the effects of all Paris publicly guaranteed debt for 2002 are World Bank Club agreements signed up to July 2002. staff estimates and based on reports provided by the country and include both convertible and non- Kazakhstan convertible currency obligations. Short-term debt Data source. Data on long-term public and data are from the BIS semiannual series on inter- publicly guaranteed and private nonguaranteed national bank lending and short-term export cred- debt for 2002 are based on reports provided by its from the OECD. 588 C O U N T R Y N O T E S Latvia Rescheduling. Projected debt service is based Data source. Data on long-term public debt on contractual obligations on debt outstanding at for 2002 are based on reports provided by the the end of 2002. It includes the effects of all Paris country. Private nonguaranteed and short-term Club agreements signed until December 2002. debt data have been revised starting from 1996, based on reports provided by the country. Madagascar Data source. Data on long-term public and Lebanon publicly guaranteed debt for 2002 are World Data source. Data on long-term public and Bank staff estimates. Short-term debt data are publicly guaranteed debt for 2002 are based on from the BIS semiannual series on international reports provided by the country. Short-term debt bank lending and short-term export credits from data are from the BIS semiannual series on inter- the OECD. national bank lending and short-term export cred- Rescheduling. Projected debt service is based its from the OECD. on contractual obligations on debt outstanding at the end of 2001. It includes the effects of all Lesotho Paris Club agreements signed until December Data source. Data on long-term public and 2002 and the 1990 commercial bank reschedul- publicly guaranteed debt for 2002 are based on re- ing arrangements. ports provided by the country and World Bank staff estimates. Short-term debt data are World Bank staff estimates. Principal and interest arrears Malawi have been revised since 1995, as reported by the Data source. Data on long-term public and country. publicly guaranteed debt for 2002 are World Bank staff estimates. Short-term debt data are Liberia from the BIS semiannual series on international Data source. Data on long-term public and bank lending and short-term export credits from publicly guaranteed debt for 2002 are estimates the OECD. based on the original terms of the loans. Short- Rescheduling. Projected debt service is based term debt data are World Bank staff estimates. on contractual obligations on debt outstanding at the end of 2002. It includes the effects of all Paris Lithuania Club agreements signed until December 2002. Data source. Data on long-term public and The agreement to reschedule debt owed to the publicly guaranteed debt for 2002 are based on re- Commonwealth Development Corporation has not ports provided by the country. Long-term private been implemented. As a result there are both prin- nonguaranteed debt data are World Bank staff cipal and interest arrears due to the corporation. estimates. Short-term debt data have been revised starting from 1996 based on reports provided by the country. Malaysia Data source. Data on long-term public and Macedonia, former Yugoslav publicly guaranteed and private nonguaranteed Republic of debt for 2002 are World Bank staff estimates. Data source. Data on long-term public and Short-term debt data are government estimates. publicly guaranteed and private nonguaranteed debt for 2002 are based on reports provided by the country. Short-term debt data are from the BIS Maldives semiannual series on international bank lending Data source. Data on long-term public and and short-term export credits from the OECD. publicly guaranteed debt for 2002 are based on Other. The former Yugoslav Republic of reports provided by the country. Short-term debt Macedonia became a member of the World Bank in data are from the BIS semiannual series on inter- 1993. Debt outstanding as of end-1993 reflect only national bank lending and short-term export cred- loans used directly by Macedonian beneficiaries. its from the OECD. 589 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 Mali the government, swapped liabilities to meet the Data source. Data on long-term public and ceiling on borrowings. publicly guaranteed debt for 2002 are based on re- Debt reduction. The decline in private nonguar- ports provided by the country. Short-term debt data anteed debt in 1988 is due primarily to prepay- are from the BIS semiannual series on international ment and swaps operations. The debt reduction in bank lending and short-term export credits from 1989 of $2.5 billion comprised debt-equity swaps the OECD. of $800 million and buybacks of $1.7 billion. In Rescheduling. Projected debt service is based 1990 swaps amounted to $846 million, and debt on contractual obligations on debt outstanding at reduction from discount bonds to $7.3 billion. the end of 2002. It includes the effects of all Paris The debt conversion program continued in 1991 Club agreements signed until December 2002. and amounted to $1.1 billion, including privatiza- tion of $431 million and debt-equity swaps of Mauritania $95 million. In 1992, $7.5 billion was bought Data source. Data on long-term public and back for $5.2 billion, which is shown under prin- publicly guaranteed debt for 2002 are based on re- cipal repayments. Also, $137 million was con- ports provided by the country. Short-term debt verted from foreign debt to equity. The increase in data are from the BIS semiannual series on inter- 1995 in long-term debt includes the stock transfer national bank lending and short-term export cred- of the "Tesobonos." Data for 2000 include debt its from the OECD. buybacks. Rescheduling. Projected debt service is based Other. Data include partial Pidiregas debt in on contractual obligations on debt outstanding at 2000, 2001, and 2002. the end of 2002. It includes the effects of all Paris Club agreements signed until December 2002. Moldova There have also been bilateral rescheduling Data source. Data on long-term public and arrangements with Algeria, Brazil, Iraq, Kuwait, publicly guaranteed debt for 2002 are based on Qatar, and Saudi Arabia. reports provided by the country. Short-term debt data are based on reports provided by the country Mauritius and World Bank staff estimates. Data source. Data on long-term public and Rescheduling. In 1993, $89 million of tech- publicly guaranteed and private nonguaranteed nical credits were rescheduled with the Russian debt for 2002 are based on reports provided by Federation. In 1996, $118.8 million were resched- the country. Short-term debt data are from the BIS uled with bilateral creditors. semiannual series on international bank lending and short-term export credits from the OECD. Mongolia Data source. Data on long-term public and Mexico publicly guaranteed debt for 2002 are based on Data source. Data on long-term public and reports provided by the country. Short-term debt publicly guaranteed, private nonguaranteed debt, data are from the BIS semiannual series on interna- and short-term debt for 2002 are based on reports tional bank lending and short-term export credits provided by the country. Revised data on short- from the OECD. Country data have been revised term and private nonguaranteed debt were pro- from 1999­2001. vided by the country. Rescheduling. Projected debt service is based Morocco on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2002. It includes the effects of all publicly guaranteed and on private nonguaran- agreements concluded to date, including the ef- teed debt for 2002 are based on reports provided fect of the zero-coupon bonds and the swap oper- by the country. Short-term debt data are from the ations. In 1992, $327 million was rescheduled as BIS semiannual series on international bank lend- a result of the 1989 Paris Club agreement. In ing and short-term export credits from the 1993 a number of public borrowers, including OECD. 590 C O U N T R Y N O T E S Rescheduling. Projected debt service is based Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at on contractual obligations on debt outstanding at the end of 2002. It includes the effects of all Paris the end of 2002. It includes the effect of agree- Club agreements signed until December 2002. ments reached with Mexico ($950 million) and República Bolivariana de Venezuela ($159 million) Mozambique in 1991, with Brazil in 1992 ($66 million), and Data source. Data on long-term public and with Argentina ($76 million) and Cuba ($7 mil- publicly guaranteed debt for 2002 are based on re- lion) in 1993; the 1995 Paris Club agreement; and ports provided by the country. Private nonguaran- agreements with the Russian Federation ($442 mil- teed debt data are World Bank staff estimates and lion), Czech Republic ($141 million), Honduras include private debt from Cahora Bassa. Short- ($117 million), Mexico ($91 million), and El term debt data are from the BIS semiannual series Salvador ($23 million) in 1996. on international bank lending and short-term ex- Debt reduction. In 1995 debt reduction was port credits from the OECD. $1.2 billion using the IDA facility. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at Niger the end of 2002. It reflects the effects of all Paris Data source. Data on long-term public and Club agreements signed up to December 2002 and publicly guaranteed debt for 2002 are based on the 1999 rescheduling agreement with the Russian reports provided by the country. Short-term debt Federation. data are from the BIS semiannual series on inter- Debt reduction. Debt reduction in 1990 national bank lending and short-term export cred- amounted to $231 million, and to $237 million in its from the OECD. 1991. In 1991 there was a debt buyback, at a dis- Rescheduling. Projected debt service is based count of 90 percent, of $124 million under the on contractual obligations on debt outstanding at IDA Debt Reduction Facility. the end of 2002. It includes the effects of all Paris Club agreements signed until December 2002. Myanmar Data source. Data relate to the year ending Nigeria in March. Data on long-term public and publicly Data source. Data on long-term public and guaranteed debt for end-March 2002 are estimates private-nonguaranteed debt for 2002 are estimates based on the original terms of the loans. Short- based on the original terms of the loans aug- term debt data are from the BIS semiannual series mented by creditor source information and World on international bank lending and short-term Bank staff estimates. Nigeria has reported external export credits from the OECD. debt transactions for individual loans for 2000, 2001 and 2002 this year after a lapse of nine Nepal years. These figures could not be used, as they are Data source. Data on long-term public and not complete. All data from 1992 forward are esti- publicly guaranteed debt for 2002 are based on mates based on aggregate data from the authori- reports provided by the country. Short-term debt ties, World Bank staff, and other sources. The data are from the BIS semiannual series on inter- promissory notes data for 1994­97 are based on national bank lending and short-term export cred- partial information from the authorities. The its from the OECD. Russian buyback is also based on partial informa- tion from the authorities. Short-term debt data are Nicaragua from the BIS semiannual series on international Data source. Data on long-term public and bank lending and short-term export credits from publicly guaranteed debt for 2002 are actual, the OECD. based on reports provided by the country. Short- Rescheduling. Projected debt service is based term debt data are from the BIS semiannual series on contractual obligations on debt outstanding at on international bank lending and short-term the end of 2002. It includes the effects of all Paris export credits from the OECD. Club agreements signed until December 2002. It 591 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 includes the effects of the 2002 buyback operation Paraguay of the Brady Bonds. Data source. Data on long-term public and Debt reduction. Debt reduction in 1988 was publicly guaranteed debt for 2002 are based on re- $40 million and in 1989, $247 million, all of it due ports provided by the country. Private nonguaran- to debt-equity swaps. In 1990 debt reduction was teed debt data have been reported by the country. $286 million, $48 million of which was due to Short-term debt data are from the BIS semiannual debt forgiveness and $238 million to debt-equity series on international bank lending and short- swaps. In 1991 debt reduction was $243 million, of term export credits from the OECD. It includes which $134 million represented a buyback, $95 mil- the effects of the 2002 buyback operation on the lion was debt-equity swaps, and $14 million was Brady Bonds. debt forgiveness. In 1992 there was a $1.3 billion buyback. Peru Data source. Data on long-term public and Oman publicly guaranteed debt for 2002 are based on re- Data source. Data on long-term public and ports provided by the country. Private nonguaran- publicly guaranteed debt for 2002 are based on teed and short-term debt are World Bank staff reports provided by the country. Short-term debt estimates. These include the effect of the 2002 buy- data are from the BIS semiannual series on inter- back operation on the Brady Bonds. national bank lending and short-term export cred- its from the OECD. Philippines Pakistan Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed, private nonguaranteed, and publicly guaranteed and private nonguaranteed short-term debt for 2002 are based on reports pro- debt for 2002 are based on reports provided by vided by the country and World Bank staff esti- the country. Short-term debt data are from the BIS mates. Total external debt for 2001 and 2002 is semiannual series on international bank lending based on loan-level data provided by the Central and short-term export credits from the OECD and Bank of the Philippines and includes unregistered exclude foreign currency deposits in local banks debt, intercompany debt and capital leases as made by nonresidents. reported by the Central Bank of Philippines. His- Rescheduling. It includes the effects of all Paris torical data were revised in order to maintain con- Club agreements signed until December 2002. sistency with the conceptual framework for the measurement of external debt set out in the inter- Panama national guidelines. Data source. Data on long-term public and Rescheduling. Projected debt service is based publicly guaranteed debt for 2002 are based on on contractual obligations on debt outstanding as reports provided by the country. Data on long- of December 2002. It includes the effects of all term private nonguaranteed debt and on short- Paris Club agreements signed until December term debt are World Bank staff estimates. Data for 2002. The Paris Club agreement signed in July 1996­2002 include buybacks. 1994 was not implemented because the Philippines decided to meet Paris Club debt service due. Debt reduction. Cash buyback of $1.3 billion Papua New Guinea at the price of 52 cents per dollar (equivalent to Data source. Data on long-term public and $656 million) was implemented in May 1992, as publicly guaranteed debt for 2002 are based on re- was the DDSR $4.4 billion multi option package ports provided by the country. Private nonguaran- of July 1992. In October 1999 the Philippines teed debt data are World Bank staff estimates. completed a $1,006 million, 25-year (plus 7-year Short-term debt data are from the BIS semi- put option) global bond offering. The offering in- annual series on international bank lending and volved a $292 million cash sale and a $714 million short-term export credits from the OECD. exchange for $858 million in Brady bonds. 592 C O U N T R Y N O T E S Poland the end of 2002. It includes the effect of reschedul- Data source. Data on long-term public and ing loans from Kuwait in 1996, as well as the effect publicly guaranteed, private nonguaranteed, and of the Paris Club agreement signed in July 1998. short-term debt for 2002 are based on reports by the country and include both convertible and non- Samoa convertible debt. Data source. Data on long-term public and Rescheduling. Projected debt service is based publicly guaranteed debt for 2002 are based on on contractual obligations on debt outstanding at reports provided by the country. Short-term debt the end of 2002. It includes the effects of all Paris data are from the BIS semiannual series on inter- Club agreements signed until December 2002. It national bank lending and short-term export cred- also includes the effect of the DDSR operation its from the OECD. with commercial banks that was concluded in October 1994. The 1994 DDSR agreement restruc- São Tomé and Principe tured $14.3 billion of debt. Data source. Data on long-term public and publicly guaranteed debt for 2002 are based on Romania reports provided by the country and World Bank Data source. Data on long-term public and staff estimates. Short-term debt data are from publicly guaranteed and private nonguaranteed the BIS semiannual series on international bank debt for 2002 are based on reports provided by lending and short-term export credits from the the country. Short-term debt data for 2002 are OECD. World Bank staff estimates. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at Russian Federation the end of 2002. It includes the effects of all Paris Data source. Data on long-term public and Club agreements signed until December 2002. publicly guaranteed and short-term debt for 2002 are estimates, based on aggregate data provided by Senegal the country. Private nonguaranteed debt data are Data source. Data on long-term public, pub- World Bank staff estimates. Data prior to 1992 are licly guaranteed, and private nonguaranteed debt for the former Soviet Union. Beginning in 1993, the for 2002 are based on reports provided by the database has been revised to include obligations to country and World Bank staff estimates. Short- members of the former Council for Mutual Eco- term debt data are from the BIS semiannual series nomic Assistance and other countries in the form on international bank lending and Short-term ex- of trade-related credits amounting to $15.4 billion port credits from the OECD. as of end-1996. Rescheduling. Projected debt service is based Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at on contractual obligations on debt outstanding the end of 2002. It includes the effects of all Paris at the end of 2002. It includes the effects of all Club agreements signed until December 2002. Paris Club agreements signed until December 2002, as well as the February 2000 rescheduling with Serbia and Montenegro London Club creditors. Data source. Data on long-term public and publicly guaranteed and short-term debt for 2002 Rwanda are based on the aggregate data reported by the Data source. Data on long-term public and country. Private nonguaranteed debt data are publicly guaranteed debt for 2002 are World World Bank staff estimates. Data includes old debt Bank staff estimates. Short-term debt data are incurred by Kosovo and Montenegro prior to from the BIS semiannual series on international 2000. bank lending and short-term export credits from Debt reduction. The debt reduction of 1988­ the OECD. 91 consisted of buybacks of $128 million in 1988, Rescheduling. Projected debt service is based $610 million in 1989, $1.5 billion in 1990, and on contractual obligations on debt outstanding at $554 million in 1991. 593 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 Other. In 1992 the former Yugoslavia split reports provided by the country. Short-term debt into several republics; information on debt out- data are from the BIS semiannual series on inter- standing by the various republics are shown in the national bank lending and short-term export cred- country pages for Croatia and FYR Macedonia. its from the OECD. Debt includes the old debt of Kosovo incurred prior to 1999. Somalia Data source. Data on long-term public and Seychelles publicly guaranteed debt for 2002 are estimates Data source. Data on long-term public and based on the original terms of the loans. Short- publicly guaranteed debt for 2002 are based on term debt data are from the BIS semiannual series reports provided by the country. Short-term debt on international bank lending and short-term ex- data are from the BIS semiannual series on interna- port credits from the OECD. tional bank lending and short-term export credits from the OECD. Figures do not include paras- South Africa tatal debt. Including parastatal debt, external Data source. Data on long-term public and debt for 2002 is estimated to be approximately publicly guaranteed and short-term debt for 2002 $560 million at end-2002. are based on aggregate information provided by the authorities and World Bank staff estimates. Sierra Leone Data source. Data on long-term public and Sri Lanka publicly guaranteed debt for 2002 are based on re- Data source. Data on long-term public and ports provided by the country. Long-term private publicly guaranteed debt for 2002 are based on nonguaranteed debt data are World Bank staff reports provided by the country. Long-term private estimates. Short-term debt data are from the BIS nonguaranteed debt data are based on reports semiannual series on international bank lending provided by the country. Short-term debt data are and short-term export credits from the OECD. from the BIS semiannual series on international Major revisions to the database are based on in- bank lending and short-term export credits from formation provided by the country. the OECD. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding St. Kitts and Nevis at the end of 2001. It includes the effects of all Data source. Data on long-term public and Paris Club agreements signed until December publicly guaranteed debt for 2002 are based on 2002. It also includes the effect of a DDSR oper- reports provided by the country. Short-term debt ation with commercial banks that was concluded data are from the BIS semiannual series on inter- in August 1995. national bank lending and short-term export cred- its from the OECD. Slovak Republic Data source. Data on long-term public and St. Lucia publicly guaranteed and private nonguaranteed Data source. Data on long-term public and debt for 2002 are based on reports provided by the publicly guaranteed debt for 2002 are based on country. Short-term debt data are from the Annual reports provided by the country. Short-term debt Reports of the National Bank of Slovakia (NBS). data are from the BIS semiannual series on inter- Other. The Slovak Republic became a mem- national bank lending and short-term export cred- ber of the World Bank in 1993. Data for 1985­92 its from the OECD. are based on preliminary information on the suc- cession of the former Czechoslovakia (effective January 1, 1993). St. Vincent and the Grenadines Data source. Data on long-term and publicly Solomon Islands guaranteed debt for 2002 are based on reports pro- Data source. Data on long-term public and vided by the country. Starting from 1993, Short- publicly guaranteed debt for 2002 are based on term debt data are World Bank staff estimates. 594 C O U N T R Y N O T E S Sudan the end of 2001. It includes the effects of all Paris Data source. Data on long-term public and Club agreements signed until December 2002. publicly guaranteed and private nonguaranteed debt for 2002 are estimates based on the original Thailand terms of the loans. Short-term debt data are from Data source. Data on long-term public and the BIS semiannual series on international bank publicly guaranteed and private nonguaranteed lending and short-term export credits from the debt for 2002 are based on preliminary reports OECD. Total external liabilities include interest provided by the country. Short-term debt data are penalty charges as reported by the Bank of also from the country and include Bangkok Inter- Sudan. national Banking Facility (BIBF) commercial bank transactions. Swaziland Data source. Data on long-term public and Togo publicly guaranteed debt for 2002 are based on Data source. Data on long-term public and reports provided by the country. Short-term debt publicly guaranteed debt for 2002 are based on data are from the BIS semiannual series on inter- reports provided by the country. Short-term debt national bank lending and short-term export cred- data are from the BIS semiannual series on inter- its from the OECD. national bank lending and short-term export cred- its from the OECD. Syrian Arab Republic Rescheduling. Projected debt service is based Data source. Data on long-term public and on contractual obligations on debt outstanding publicly guaranteed debt for 2002 are estimates at the end of 2002. It includes the effects of all based on the original terms of the loans and Paris Club agreements signed until December include only civilian debt. Data on noncivilian 2002 and commercial bank arrangements until debt, which is substantial and owed mainly to East- end-1996. ern European countries, are estimates using credi- tor source information. Data on civilian debt do Tonga not reflect bilateral debt arrangements that have Data source. Data on long-term public and been agreed in recent years. Short-term debt data publicly guaranteed debt for 2002 are based on are World Bank staff estimates. reports provided by the country. Short-term debt data are from the BIS semiannual series on inter- Tajikistan national bank lending and short-term export cred- Data source. Data on long-term public and its from the OECD. publicly guaranteed debt for 2002 are based on reports provided by the country. Private nonguar- Trinidad and Tobago anteed debt data are World Bank estimates. Data source. Data on long-term public and Rescheduling. In 1993, $18 million of techni- publicly guaranteed debt for 2002 are based on cal credits were rescheduled with Kazakhstan. In reports provided by the country. Short-term debt 1996, $505.8 million were rescheduled with bilat- data are from the BIS semiannual series on inter- eral creditors. national bank lending and short-term export cred- its from the OECD. Tanzania Data source. Data on long-term public and publicly guaranteed debt for 2002 are World Bank Tunisia staff estimates. Long-term private nonguaranteed Data source. Data on long-term public and debt data are World Bank staff estimates. Short- publicly guaranteed debt for 2002 are based on term debt data are from the BIS semiannual series reports provided by the country. Private nonguar- on international bank lending and short-term anteed debt data are World Bank staff estimates export credits from the OECD. based on information from the government. Short- Rescheduling. Projected debt service is based term debt data are World Bank staff estimates on contractual obligations on debt outstanding at based on reports from the country. 595 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 Turkey Uruguay Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed, private nonguaranteed, and publicly guaranteed debt for 2002 are based on re- short-term debt for 2002 are based on reports pro- ports provided by the country. Private nonguaran- vided by the country. teed and short-term debt data are World Bank staff Nonresident deposits. Long-term debt data estimates. include nonresident deposits made under the Dresdner Bank scheme, amounting to $13.5 billion Uzbekistan at end-2002. Data source. Data on long-term public and publicly guaranteed and private nonguaranteed Turkmenistan debt for 2002 are based on reports provided by Data source. Data on long-term public and the country. Short-term debt data are from the publicly guaranteed debt for 1999 to 2002 are not BIS semiannual series on international bank lend- available due to reporting problems. Short-term ing and short-term export credits from the debt data are from the BIS semiannual series on OECD. international bank lending and short-term export Rescheduling. In 1993 a total of $321 million credits from the OECD. of trade credits were rescheduled with Kazakhstan ($46.4 million) and the Russian Federation Uganda ($275.0 million). Data source. Data on long-term public and publicly guaranteed debt for 2002 are based on Vanuatu reports provided by the country. Short-term debt Data source. Data on long-term public and data are from the BIS semiannual series on inter- publicly guaranteed and short-term debt for 2002 national bank lending and short-term export cred- are World Bank staff estimates. its from the OECD. Rescheduling. Projected debt service is based Venezuela, República Bolivariana de on contractual obligations on debt outstanding Data source. Data on long-term public and at the end of 2002. It includes the effects of all publicly guaranteed and private nonguaranteed Paris Club agreements signed until December debt for 2002 are based on reports provided by 2002. the country. Short-term debt data are from the BIS Debt reduction. As a result of the September semiannual series on international bank lending 2000 Paris Club agreement on Lyon terms, the and short-term export credits from the OECD. stock of debt was reduced by $165 million at the end of 2000. Vietnam Data source. Data on long-term public and Ukraine publicly guaranteed debt for 2002 are based on Data source. Data on long-term public and partial reports provided by the authorities and publicly guaranteed and private nonguaranteed World Bank staff estimates. Short-term debt data debt for 2002 are based on reports provided by are from the BIS semiannual series on interna- the country. Short-term debt data are from the tional bank lending and short-term export credits BIS semiannual series on international bank lend- from the OECD. ing and short-term export credits from the Rescheduling. Projected debt service is based OECD. on contractual obligations and existing terms on Rescheduling. In 1993 a total of $2,528 million debt outstanding at the end of 2002. It includes of technical credits were rescheduled with Moldova the effects of all Paris Club agreements signed and the Russian Federation. In 1999 some $3.2 bil- until December 2002, other bilateral arrange- lion were rescheduled with the Russian Federation. ments outside of the Paris Club, and the 1997 In 2000 about $2.7 billion in bonds were resched- DDSR agreement. The effect of the memorandum uled. It includes the effects of all Paris Club agree- of understanding of September 1997 on the debt ments signed until December 2002. outstanding and disbursed owed to Russia is 596 C O U N T R Y N O T E S reflected in the table. The data are provisional and the reports provided by the country. Private are based on World Bank staff estimates. nonguaranteed debt data are World Bank staff estimates. Short-term debt data are from the BIS Yemen, Republic of semiannual series on international bank lending Data source. Data on long-term public and and sort-term export credits from the OECD. publicly guaranteed debt for 2002 are based on Rescheduling. Projected debt service is based reports provided by the country and World Bank on contractual obligations on debt outstanding staff estimates. Short-term debt data are from the at the end of 2002. It includes the effects of all BIS semiannual series on international bank Paris Club agreements signed until December lending and short-term export credits from the 2002. OECD. Rescheduling. Projected debt service is based Zimbabwe on contractual obligations and existing terms on Data source. Data on long-term public debt debt outstanding at the end of 2002. It includes for 2002 are based on reports provided by the the effects of all Paris Club agreements signed until country and World Bank staff estimates. Data on December 2002. private nonguaranteed debt are estimates based on previous reports provided by the country. Short- Zambia term debt data are from the BIS semiannual series Data source. Data on long-term public and on international bank lending and short-term publicly guaranteed debt for 2002 are based on export credits from the OECD. 597 T he external financing environment facing notably the likely increases in interest rates in the developing countries has brightened. In advanced economies, volatility in major currencies 2003, as global growth gained momentum, prices and financial markets stemming from large global for key commodities rose, financial markets current-account imbalances, and fears of policy recovered, interest rates remained low, and private slippages in macroeconomic management in capital flows to developing countries increased developing countries. It also contains the World to $200 billion--their highest level in five years. Bank's assessment of the global outlook in light Harnessing these gains to promote long-term of the recent economic recovery. investment and growth is the key theme of Global Development Finance 2004. Global Development Finance 2004, II: Summary and Country Tables includes a comprehensive set of tables Much of the developing world still has difficulty of data for 136 countries that report under the accessing the international capital markets. World Bank Debtor Reporting System, as well as International investment in developing-country summary data for regions and income groups. It infrastructure has declined dramatically since contains data on total external debt stocks and 1997 and--with the exception of trade finance-- flows, aggregates, and key debt ratios, and provides a private capital flows remain heavily concentrated detailed, country-by-country picture of debt. Global in specific countries and regions.Although official Development Finance 2004 debt data are also available aid flows have increased, they remain well below on CD-ROM, with more than 200 historical time the levels required to meet the Millennium series from 1970 to 2002, and country group Development Goals. estimates for 2003. In several developing countries, there has been a With analysis and data spanning from short-term large scale build-up in official reserves, much of trade to long-term infrastructure finance, Global which has been invested in the financial markets of Development Finance 2004 is unique in its breadth advanced economies, especially the United States-- of coverage of the issues related to international epitomizing the diverse landscape of contemporary development finance. By providing a compre- development finance, as well as intricate linkages hensive review of recent trends in and prospects between exchange rates, trade and capital flows, and for all development-related flows (including debt, the growing interdependence between developed equity, official aid, and workers' remittances), and developing countries. Global Development Finance 2004 enables government Global Development Finance 2004, I:Analysis and officials, economists, investors, financial consultants, Summary Tables is the World Bank's annual review of academics, and policymakers in the development recent trends in and prospects for financial flows to community to better understand, manage, and developing countries. It highlights sources of vul- promote the key challenge of financing nerability and risk in the recovery in private flows, development in today's globalized environment. For more information on the analysis, please see THE WORLD BANK www.worldbank.org/prospects; further details about the 1818 H Street, NW Country Tables can be found at www.worldbank.org/data. Washington, DC 20433 USA For general and ordering information, please visit Telephone: 202 473-1000 the World Bank's publications website at Facsimile: 202 477-6391 www.worldbank.org/publications, or call 703-661-1580; Internet: www.worldbank.org E-mail: feedback@worldbank.org within the U.S., please call 1 (800) 645-7247. ISBN-0-8213-5741-7