T H E W O R L D B A N K Global 34414 v 2 Development Finance Mobilizing Finance and ManagingVulnerability 2005 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 Global Development Finance Mobilizing Finance and Managing Vulnerability II: Summary and Country Tables Global Development Finance Mobilizing Finance and Managing Vulnerability 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 2005 T H E W O R L D B A N K © 2005 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 08 07 06 05 This volume is a product of the staff of the International Bank for Reconstruction and Development/The World Bank. The findings, interpretations, and conclusions expressed in this paper do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. 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ISBN-13: 978-0-8213-5985-3 ISBN-10: 0-8213-5985-1 eISBN-13: 978-0-8213-6214-3 eISBN-10: 0-8213-6214-3 ISSN: 1020-5454 Table of Contents Preface vii Central African Republic 128 Chad 132 Methodology ix Chile 136 China 140 Sources and definitions xiii Colombia 144 Comoros 148 Country groups xxiv Congo, Democratic Republic of 152 Regional groups Congo, Republic of 156 Income groups Costa Rica 160 Côte d'Ivoire 164 Summary tables xxvii Croatia 168 Czech Republic 172 Regional and income group Djibouti 176 aggregate tables 1 Dominica 180 Dominican Republic 184 Country tables 39 Ecuador 188 Albania 40 Egypt, Arab Republic of 192 Algeria 44 El Salvador 196 Angola 48 Equatorial Guinea 200 Argentina 52 Eritrea 204 Armenia 56 Estonia 208 Azerbaijan 60 Ethiopia 212 Bangladesh 64 Fiji 216 Barbados 68 Gabon 220 Belarus 72 Gambia, The 224 Belize 76 Georgia 228 Benin 80 Ghana 232 Bhutan 84 Grenada 236 Bolivia 88 Guatemala 240 Bosnia and Herzegovina 92 Guinea 244 Botswana 96 Guinea-Bissau 248 Brazil 100 Guyana 252 Bulgaria 104 Haiti 256 Burkina Faso 108 Honduras 260 Burundi 112 Hungary 264 Cambodia 116 India 268 Cameroon 120 Indonesia 272 Cape Verde 124 Iran, Islamic Republic of 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 5 Jamaica 280 Rwanda 436 Jordan 284 Samoa 440 Kazakhstan 288 São Tomé and Principe 444 Kenya 292 Senegal 448 Kyrgyz Republic 296 Serbia and Montenegro 452 Lao People's Democratic Republic 300 Seychelles 456 Latvia 304 Sierra Leone 460 Lebanon 308 Slovak Republic 464 Lesotho 312 Solomon Islands 468 Liberia 316 Somalia 472 Lithuania 320 South Africa 476 Macedonia, former Yugoslav Republic of 324 Sri Lanka 480 Madagascar 328 St. Kitts and Nevis 484 Malawi 332 St. Lucia 488 Malaysia 336 St. Vincent and the Grenadines 492 Maldives 340 Sudan 496 Mali 344 Swaziland 500 Mauritania 348 Syrian Arab Republic 504 Mauritius 352 Tajikistan 508 Mexico 356 Tanzania 512 Moldova 360 Thailand 516 Mongolia 364 Togo 520 Morocco 368 Tonga 524 Mozambique 372 Trinidad and Tobago 528 Myanmar 376 Tunisia 532 Nepal 380 Turkey 536 Nicaragua 384 Turkmenistan 540 Niger 388 Uganda 544 Nigeria 392 Ukraine 548 Oman 396 Uruguay 552 Pakistan 400 Uzbekistan 556 Panama 404 Vanuatu 560 Papua New Guinea 408 Venezuela, República Bolivariana de 564 Paraguay 412 Vietnam 568 Peru 416 Yemen, Republic of 572 Philippines 420 Zambia 576 Poland 424 Zimbabwe 580 Romania 428 Russian Federation 432 Country notes 585 vi . Preface T he print edition of Global Development relation between debt stock and its components, Finance (GDF) consists of two volumes: the computation of net flows, aggregate net re- Analysis and Statistical Appendix and Sum- source flows, and aggregate net transfers; and the mary and Country Tables. Analysis and Statistical relation between net resource flows and the bal- Appendix contains analysis and commentary on ance of payments. Exact definitions of the terms recent developments in international finance for used in the Summary and Country Tables volume developing countries, together with summary sta- of GDF are found in the Sources and Definitions tistical tables for selected regional and analytical section. groups comprising 136 debt-reporting developing The economic aggregates presented in the countries. tables are prepared for the convenience of users. Summary and Country Tables contains statis- Although debt indicators can give useful informa- tical tables on the external debt of the 136 coun- tion about developments in debt-servicing capac- tries that report public and publicly guaranteed ity, conclusions drawn from them will not be debt under the Debtor Reporting System. Also in- valid unless accompanied by careful economic cluded are tables of selected debt and resource flow evaluation. statistics for individual reporting countries as well The macroeconomic information provided is as summary tables for regional and income groups. from standard sources, but many of them are sub- Earlier this year, country tables and sum- ject to considerable margins of error, and the usual mary tables were also made available online care must be taken in interpreting the indicators. (GDF Online). This is particularly the case for the most recent For the convenience of readers, charts on year or two, when figures are preliminary and sub- pages xxi to xxiii summarize graphically the ject to revision. 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, Nevin Fahmy, Kabinah Fofanah, Shelley Fu, Yulia Makarova, Gloria Moreno, Olha Pryymak, and Alagiri Venkatesan. The team was assisted by Rosario Alipio. Abdolreza Farivari led systems support, Soong Sup Lee provided the macroeconomic data, and K. M. Vijayalakshmi provided worker remit- tances and compensation of employees data. Many others inside the World Bank provided helpful input, especially the staff of the Development Prospects Group, Dilek Aykut, Milko N. Iantchev, Jeffrey D. Lewis, Himmat S. Kalsi, Eung Ju Kim; the staff of the Debt Department--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 5 Global Development Finance 2005 on CD- of the Summary and Country Tables volume. Text ROM contains a database of 217 time series providing country notes, definitions, and source indicators, covering the years 1970 to 2003 in notes is linked to each table. The general cutoff most cases, and to 2013 for "pipeline" data. It date for data is December 2003. also contains the full contents of the print version viii . Methodology T he World Bank is the sole repository for sta- sharply during the year; cancellations and resched- tistics on the external debt of developing ulings of other liabilities into long-term public countries on a loan-by-loan basis. The debt also contribute to the differences. Debtor Reporting System (DRS), set up in 1951 to monitor these statistics, is maintained by the staff of Public and publicly guaranteed debt the Financial Data Team (FIN), part of the Devel- All data related to public and publicly guaranteed opment Data Group of Development Economics. debt are from debtors except for lending by some multilateral agencies, in which case data are taken from the creditors' records. These creditors include the African Development Bank, the Asian Devel- Methodology for aggregating data opment Bank, the Central Bank for Economic Inte- U sing the DRS data, in combination with infor- gration, the Inter-American Development Bank, mation obtained from creditors through the and the International Bank for Reconstruction and debt data collection systems of other agencies such Development (IBRD) and the International Devel- as the Bank for International Settlements (BIS) and opment Association (IDA). (The IBRD and IDA the Organisation for Economic Co-operation and are components of the World Bank.) Development (OECD), the staff of the Financial Starting with the 1988­89 edition of World Data Team estimate the total external indebted- Debt Tables (as this book was previously titled), ness of developing countries. The data are also all data pertaining to World Bank loans from 1985 supplemented by market sources and estimates onward are recorded at their current market value. made by country economists of the World Bank Starting with the 1991­92 edition, all data per- and desk officers of the International Monetary taining to Asian Development Bank loans from Fund (IMF). 1989 onward are recorded at their current market value. Starting with the 1998 edition, all data per- Converting to a common currency taining to African Development Bank and African Since debt data are normally reported to the Development Fund loans from 1997 onward are World Bank in the currency of repayment, they recorded at their current market value as well. have to be converted into a common currency (usually U.S. dollars) to produce summary tables. Private nonguaranteed debt Because flow data are converted at annual average The DRS was expanded in 1970 to incorporate exchange rates and stock data at year-end ex- private nonguaranteed long-term debt. Reports, change rates, year-to-year changes in debt out- submitted annually, contain aggregate data for dis- standing and disbursed are sometimes not equal to bursed and outstanding debt, disbursements, prin- net flows (disbursements less principal repay- cipal repayments, interest payments, principal and ments); similarly, changes in debt outstanding, interest rescheduled for the reporting year, and including undisbursed debt, differ from commit- projected payments of principal and interest. Data ments less repayments. Discrepancies are particu- are usually presented in dollars, and currency con- larly significant when exchange rates have moved version is not necessary. A few reporting countries 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 5 choose to provide data on their private nonguar- on its own external liabilities. But for short-term anteed debt in the loan-by-loan format used for debt, defined as debt with an original maturity reporting public and publicly-guaranteed debt. In of one year or less, accurate information is not those cases the currency conversion and projection widely available from debtors. By its nature, short- methodology just described is used. term debt is difficult to monitor; loan-by-loan Although the reporting countries fully recog- registration is normally impractical, and most nize the importance of collecting data on private reporting arrangements involve periodic returns to nonguaranteed debt when it constitutes a signifi- a country's central bank from its banking sector. cant portion of total external debt, detailed data Since 1982 the quality of such reporting has are available only in countries that have registra- improved, but only a few developing countries tion requirements covering private debt, most have figures available for short-term debt. commonly in connection with exchange controls. Where information from debtors is not avail- Where formal registration of foreign borrowing is able, data from creditors can indicate the magni- not mandatory, compilers must rely on balance of tude of a country's short-term debt. The most payments data and financial surveys. important source is the BIS's semiannual series This edition includes data on private nonguar- showing the maturity distribution of commercial anteed debt, either as reported or as estimated, for banks' claims on developing countries. Those data 80 countries for which this type of debt is known are reported residually. However, an estimate of to be significant. short-term liabilities by original maturity can be For private nonguaranteed debt that is not re- calculated by deducting from claims due in one ported, the standard estimation approach starts year those that had a maturity of between one and from a calculation of the stock of debt outstand- two years 12 months earlier. ing, using data available from creditors. Figures There are several problems with this method. on guaranteed export credits, obtained from the Valuation adjustments caused by exchange rate OECD's Creditor Reporting System (CRS), are movements will affect the calculations, as will pre- supplemented by loan-by-loan information on of- payment and refinancing of long-term maturities ficial lending to private borrowers and by infor- falling due. Moreover, not all countries' commer- mation on noninsured commercial bank lending to cial banks report in a way that allows the full ma- the private sector. turity distribution to be determined, and the BIS Disbursements and debt service payments for data include liabilities only to banks within the private nonguaranteed debt are more difficult to reporting area. Nevertheless, combining these esti- estimate. Amortization is estimated by making an mates with data on officially guaranteed short- assumption regarding the proportion of debt re- term suppliers' credits compiled by the OECD paid each year and then applying these ratios to gives what may be thought of as a lower-bound es- generate a first approximation of annual principal timate of a country's short-term debt. Even on this repayments. basis, however, the results need to be interpreted Disbursements are then estimated as a residual with caution. Where short-term debt has been between net flows (equal to the change in the stock rescheduled, the effect of lags in reporting and dif- of debt) and estimated amortization. Interest pay- ferences in the treatment of the rescheduled debt ments are estimated by applying an assumed aver- by debtors and creditors may result in double age interest rate to the stock of debt outstanding. counting if short-term debt derived from creditor Data on the balance of payments flows provide sources is added to long-term debt reported by the useful guidelines in the process of building a time country to obtain total external liabilities. series because private nonguaranteed debt can be Some of the short-term debt estimates pub- treated as a residual between total net long-term lished are drawn from debtor and creditor borrowing and net long-term borrowing recorded sources, but most are from creditor sources. Only in the DRS for public and publicly guaranteed debt. for a few countries can the data be regarded as authoritative, but they offer a guide to the size of Short-term debt a country's short-term (and, hence, its total) ex- The World Bank regards the individual reporting ternal debt. The quality of these data is likely to country as the authoritative source of information improve. x M E T H O D O L O G Y Use of IMF credit reflects the assumption of the assets by the official Data related to the operations of the IMF come credit insurance agencies of the creditor countries. from the IMF Treasurer's Department and are The debts to the original creditors are reduced converted from special drawing rights (SDRs) by the amounts rescheduled, and a new obligation into dollars using end-of-period exchange rates to the official creditor agencies is created. This for stocks and average over the period exchange shift also applies to private nonguaranteed debt rates for converting flows, as described earlier. that is reduced by the amounts rescheduled, which IMF trust fund loans and operations under the in turn are included in the public and publicly structural adjustment and enhanced structural guaranteed debt owed to official creditors. On adjustment facilities are presented together with the debtor side, when a government accepts all of the Fund's special facilities (the buffer stock, responsibility for the payment of rescheduled debt compensatory financing, extended fund, and oil previously owed by private enterprises, the DRS facilities). registers a change in debtor categories in the DRS. Similarly, when short-term debt is included in a Treatment of arrears restructuring agreement, the rescheduled amount The DRS collects information on arrears in both is shifted from short-term to long-term debt. principal and interest. Principal in arrears is in- 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 Methodology for projecting data A identified in the amount of short-term debt out- n important feature of the WBXD system of standing. If and when interest in arrears is capital- the DRS is its ability to project future dis- ized under a debt reorganization agreement, the bursements of unutilized commitments and future amount of interest capitalized will be added to the debt service payments. amount of long-term debt outstanding and the corresponding deduction made from the amount Undisbursed debt of short-term debt outstanding. Projections of disbursements help underpin future capital requirements in the implementation of ex- Treatment of debt restructurings ternally financed projects. In addition, they help The DRS attempts to capture accurately the effects determine the interest portion of projected debt of the different kinds of restructurings on both service. Future interest payments are based on pro- debt stocks and debt flows, consistent with the cir- jected debt outstanding that is itself determined by cumstances under which the restructuring takes projected disbursements and repayments. The un- place. Whether a flow has taken place is some- derlying assumptions of these projections are that times difficult to determine. loan commitments will be fully utilized and that In compiling and presenting the debt data, a the debtor country will repay all sums due. Future distinction is made between cash flows and im- disbursements and debt service refer only to exist- puted flows. Based on this criterion, rescheduled ing debt and do not reflect any assumptions on fu- service payments and the shift in liabilities from ture borrowing. one financial instrument to another as a result of Disbursement projections use two methods: rescheduling are considered to be imputed flows. · Specific schedules. Debtor countries are re- The imputed flows are recorded separately in quested to submit a calendar of future disburse- the World Bank External Debt (WBXD) system, ments, if available, at the time individual loans are but these debt restructuring transactions are not first reported. Country authorities are in a better evident in the main body of the debt data--only position to provide estimated disbursement sched- the resulting effect of these transactions is reflected. ules when there is a solid public sector investment Changes in creditor and debtor status that can program in place. result from debt restructuring are also reflected. · Standard schedules. In the absence of specific For example, when insured commercial credits are schedules, the WBXD system projects disburse- rescheduled, the creditor classification shifts from ments by applying a set of profiles to the last private sources to official sources (bilateral). This actual undisbursed balance of individual loans. 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 5 The profiles are derived under the assumption that repayment terms of the loans. Principal repay- specific sources of funds have some common char- ments (amortization) are based on the amount of acteristics that cause them to disburse, in the ag- loan commitments, and the amortization profile of gregate, in some observable pattern. Accordingly, most loans follows a set pattern. Using the first some thirty profiles have been derived that roughly and final payment dates and the frequency of the correspond to creditor type. Profiles exist for con- payments, the system calculates the stream of prin- cessional and nonconcessional loans from official cipal payments due. If future payments are irregu- creditors. For bilateral lending, profiles have been lar, the WBXD system requires a schedule. developed for the Development Assistance Com- Projected future interest payments are calcu- mittee, the Organization of Petroleum Exporting lated similarly. Interest is based on the amount of Countries (OPEC), and other creditor groupings. debt disbursed and outstanding at the beginning of For multilateral lending, specific profiles are avail- the period. Again, using the first and final interest able for major international organizations. An esti- payment dates and the frequency of payments, the mating equation for each profile is derived by system calculates the stream of interest payments applying regression analysis techniques to a body due. If interest payments are irregular, the WBXD of data that contains actual disbursement informa- system requires a schedule. tion for more than 100,000 loans. Although these The published figures for projected debt ser- standard profiles are reestimated from time to vice obligations are converted into U.S. dollars time, under the best scenario they can only approx- using the end-December 2003 exchange rates. imate the disbursement pattern of any single loan. Likewise the projection routine for variable inter- est rate debt, such as commercial bank debt based Future debt service payments on the London interbank offered rate (LIBOR), Most projections of future debt service payments assumes that the rate prevailing at the end of generated by the WBXD system are based on the December 2003 will be effective throughout. xii . Sources and definitions T his edition of GDF presents reported or es- Total debt flows are consolidated data on timated data on the total external debt of disbursements, principal repayments, and interest all low- and middle-income countries. payments for total long-term debt and transac- tions with the IMF. Net flows on debt are disbursements on long- term debt and IMF purchases minus principal re- Format payments on long-term debt and IMF repurchases T he country and summary data has been ex- up to 1984. Beginning in 1985 this line includes panded to include summary tables along with the change in stock of short-term debt (including the standard country tables for the 136 individual interest arrears for long-term debt). Thus if the countries that report to the World Bank's Debtor change in stock is positive, a disbursement is as- Reporting System (DRS). Summary tables present sumed to have taken place; if negative, a repay- selected debt and resource flow statistics for the ment is assumed to have taken place. individual reporting countries and external debt Total debt service (TDS) shows the debt ser- data for regional and income groups. The format vice payments on total long-term debt (public and of the regional and income group tables draws on publicly guaranteed and private nonguaranteed), the individual country table format and includes use of IMF credit, and interest on short-term debt. graphic presentations. SECTION 2 provides data series for aggregate For the 136 individual countries that report to net resource flows and net transfers (long-term). 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 short- ficial net resource flows are the sum of net flows term debt. Interest in arrears on long-term debt on long-term debt to official creditors (excluding and the use of IMF credit are added to the short- the IMF) plus official grants (excluding technical term debt estimates and are shown as separate cooperation). Private net resource flows are the lines. Arrears of principal and of interest have sum of net flows on debt to private creditors plus been disaggregated to show the arrears owed to net foreign direct investment and portfolio equity official creditors and the arrears owed to private flows. Official net transfers and private net trans- creditors. Export credits and principal in arrears fers are shown as memorandum items as well. on long-term debt are shown as memorandum Net transfers (long-term) are equal to net items. long-term resource flows minus interest payments 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 5 on long-term loans and foreign direct investment More often, however, it can be explained by profits. specific borrowing phenomena in individual coun- SECTION 3 provides data series for major eco- tries. These are explained in the Country Notes nomic aggregates. section. The gross national income (GNI) series uses SECTION 9 provides information on the yearly average exchange rates in converting GNI average-terms of new commitments on public and from local currency into U.S. dollars. The eco- publicly guaranteed debt and information on the nomic aggregates are prepared for the convenience level of commitments from official and private of users; the usual caution should be exercised in sources. using them 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 2003. 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 ta- borrowers, are included in private nonguaranteed bles 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 rately identified, as is debt denominated in special status, transactions, and terms of the long-term drawing rights and debt repayable in multiple external debt of public agencies and that of private currencies. ones guaranteed by a public agency in the debtor SECTION 7 provides information on restructur- country. This information forms the basis for the ings of long-term debt starting in 1985. It shows tables in these volumes. both the stock and flows rescheduled each year. In Aggregate data on private debt without public addition, the amount of debt forgiven (interest for- guarantee are compiled and published as reliable given is shown as a memorandum item) and the reported and estimated information becomes amount of debt stock reduction (including debt available. This edition includes data on private 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 with creditor sources. The principal creditor sources are 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 inter- for International Settlements (BIS), and data on est arrears, the capitalization of interest, the reduc- officially guaranteed suppliers' credits compiled tion in debt resulting from debt forgiveness or other by the Organisation for Economic Co-operation debt reduction mechanisms, and the crosscurrency and Development (OECD). For some countries, valuation effects. The residual difference--the estimates were prepared by pooling creditor and change in stock not explained by any of the factors debtor information. identified above--is also presented. The residual is Interest in arrears on long-term debt and the calculated as the sum of identified accounts minus use of IMF credit are added to the short-term debt the change in stock. Where the residual is large it estimates and shown as separate lines in section 1. can, in some cases, serve as an illustration of the Arrears of interest and of principal owed to official inconsistencies in the reported data. and to private creditors are identified separately. xiv S O U R C E S A N D D E F I N I T I O N S 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 government, credits officially guaranteed or insured by an ex- a political subdivision (or an agency of either), and port credit agency. Both long-term and short-term autonomous public bodies. exports credits are included. For 1998 to 2003 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. Never- fined as principal repayment due but not paid, on theless, quality and coverage vary among debtors a cumulative basis. and may also vary for the same debtor from year to The memorandum item export credits in- year. Coverage has been improved through the cludes official export credits, suppliers' credits, the efforts of the reporting agencies and the work of official non-ODA lending, and bank credits offi- World Bank missions, which visit member countries cially guaranteed or insured by an export credit to gather data and to provide technical assistance agency. Both long-term and short-term credits are 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 drawings Definitions in the reserve tranche) shown for the end of the F or all regional, income, and individual country year specified. Use of IMF credit comprises pur- tables, data definitions are presented below or chases 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 financing, with those below. extended fund, and oil facilities), trust fund loans, and operations under the structural adjustment Summary debt data and enhanced structural adjustment facilities. Data TOTAL DEBT STOCKS are defined as the sum of pub- are from the Treasurer's Department of the IMF. lic and publicly guaranteed long-term debt, private · IMF purchases are total drawings on the gen- nonguaranteed long-term debt, the use of IMF eral resources account of the IMF during the year credit, and short-term debt. The relation between specified, excluding drawings in the reserve total debt stock and its components is illustrated tranche. on page xxi. · IMF repurchases are total repayments of Long-term external debt is defined as debt outstanding drawings from the general resources that has an original or extended maturity of account during the year specified, excluding repay- more than one year and that is owed to nonresi- ments due in the reserve tranche. dents and repayable in foreign currency, goods, To maintain comparability between data on or services. transactions with the IMF and data on long-term 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 5 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 com- uses of a country's currency by the IMF. mitments that obligate a specific value of funds TOTAL DEBT FLOWS include disbursements, available for disbursement for which there is no principal repayments, net flows and transfers on repayment requirement. debt, and interest payments. The memorandum item technical cooperation Disbursements are drawings on loan commit- grants includes free-standing technical cooperation ments during the year specified. grants, which are intended to finance the transfer Principal repayments are the amounts of prin- of technical and managerial skills or of technology cipal (amortization) paid in foreign currency, for the purpose of building up general national ca- goods, or services in the year specified. pacity without reference to any specific investment Net flows on debts (or net lending or net dis- projects; and investment-related technical cooper- bursements) are disbursements minus principal ation grants, which are provided to strengthen the repayments. capacity to execute specific investment projects. Interest payments are the amounts of interest Profit remittances on foreign direct invest- paid in foreign currency, goods, or services in the ment covers payments of direct investment income year specified. (debit side), which consist of income on equity Net transfers on debt are net flows minus in- (dividends, branch profits, and reinvested earn- terest payments (or disbursements minus total debt ings) and income on debt (interest). service payments). The concepts of net flows on debt, net trans- Major economic aggregates fers on debt, and aggregate net flows and net Five economic aggregates are provided for the re- transfers are illustrated on pages xxii and xxiii. porting economies. Gross national income, or Total debt service paid (TDS) is debt service GNI (gross national product, or GNP, in previous payments on total long-term debt (public and pub- editions) is the sum of value added by all resident licly guaranteed and private nonguaranteed), use producers plus any product taxes (less subsidies) of IMF credit, and interest on short-term debt. not included in the valuation of output plus net receipts of primary income (compensation of em- Aggregate net resource flows and transfers ployees and property income) from abroad. The NET RESOURCE FLOWS (LONG-TERM) are the sum of national accounts data for most developing coun- net resource flows on long-term debt (excluding tries are collected from national statistical organi- IMF) plus non­debt-creating flows. zations and central banks by visiting and resident NON­DEBT-CREATING FLOWS are net foreign World Bank missions. Data on GNI are from the direct-investment, portfolio equity flows, and offi- Macroeconomic Data Team of the Development cial grants (excluding technical cooperation). Net Economics Development Data Group of the World foreign direct investment and portfolio equity Bank. xvi S O U R C E S A N D D E F I N I T I O N S Exports of goods, services and income (XGS) Debt indicators comprise the total value of goods and services ex- The macroeconomic aggregates and debt data pro- ported, and receipts of compensation of employ- vided in the tables are used to generate ratios that ees, and investment income. Workers' remittances, analysts use to assess the external situations of a transfer and not an income entry is the balance developing countries. Different analysts give dif- of payments, are treated as compensation of em- ferent weights to these indicators, but no single ployees in Global Development Finance because indicator or set of indicators can substitute for a they are often difficult to distinguish from com- thorough analysis of the overall situation of an pensation 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 of capital transfers, are treated as workers' remit- the cost of, or capacity for, servicing debt in terms tances in Global Development Finance. See GDF of the foreign exchange or output forgone. The volume 1 for more details. following ratios are provided based on total exter- Imports of goods and services (MGS) are the nal 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 na- country's monetary authority's holdings of special tional 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 total debt service to exports of goods and services holdings of gold (valued at year-end London (including workers' remittances). prices). INT/XGS, also called the interest service Current account balance is the sum of the ratio, is total interest payments to exports of goods credits less the debits arising from international and services (including workers' remittances). transactions in goods, services, income, and cur- INT/GNI is total interest payments to gross rent transfers. It represents the transactions that national income. add to or subtract from an economy's stock of for- RES/EDT is international reserves to total ex- eign financial items. ternal debt. Data on exports and imports (on a balance of RES/MGS is international reserves to imports payments basis), international reserves, and cur- of goods and services. rent account balances are drawn mainly from the Short-term/EDT is short-term debt to total files of the IMF, supplemented by World Bank staff external debt. estimates. Balance of payments data are presented Concessional/EDT is concessional debt to according to the fifth edition of the IMF's Balance total external debt. of Payments Manual, which made several adjust- Multilateral/EDT is multilateral debt to total ments to its presentation of trade statistics. Cover- external debt. age of goods was expanded to include in imports the value of goods received for processing and re- Long-term debt pair (on a gross basis). Their subsequent re-export Data on long-term debt include eight main elements: is recorded in exports (also on a gross basis). This DEBT OUTSTANDING AND DISBURSED is the total approach will cause a country's imports and ex- outstanding debt at year end. ports to increase without affecting the balance of DISBURSEMENTS are drawings on loan commit- goods. In addition, all capital transfers, which ments by the borrower during the year. were included with current transfers in the fourth PRINCIPAL REPAYMENTS are amounts paid by edition of the Balance of Payments Manual, are the borrower during the year. now shown in a separate capital (as opposed to fi- NET FLOWS received by the borrower du- nancial) account, and so do not contribute to the ring the year are disbursements minus principal current account balance. repayments. 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 5 INTEREST PAYMENTS are amounts paid by the DAC definition, as was the practice in earlier borrower during the year. reports. NET TRANSFERS are net flows minus interest Variable interest rate LDOD is long-term payments during the year; negative transfers show debt with interest rates that float with movements net transfers made by the borrower to the creditor in a key market rate such as the London interbank during the year. offer rate (LIBOR) or the U.S. prime rate. This DEBT SERVICE (LTDS) is the sum of principal re- item conveys information about the borrower's ex- payments and interest payments actually made. posure to changes in international 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 of development banks, and other multilateral and 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 special drawing rights and debt repayable in multi- organization on behalf of a single donor ple currencies. Beginning in 2001, debt denomi- government; these are classified as loans from nated in the currencies of the twelve members in governments. the European Monetary Union is included under · Bilateral loans are loans from governments the euro. and their agencies (including central banks), loans from autonomous bodies, and direct loans from Debt restructurings official export credit agencies. Debt restructurings include restructurings in the Private creditors include bonds, commercial context of the Paris Club, commercial banks, debt- banks, and other private creditors. Commercial equity swaps, buybacks, and bond exchanges. banks and other private creditors comprise bank Debt restructuring data capture the non-cash or and trade-related lending. inferred flows associated with rescheduling and · Bonds include publicly issued or privately restructuring. These are presented to complement placed bonds. the cash-basis transactions recorded in the main · Commercial banks are loans from private body of the data. banks and other private financial institutions. Debt stock rescheduled is the amount of debt · Other private includes credits from manufac- outstanding rescheduled in any given year. Princi- turers, exporters, and other suppliers of goods, pal rescheduled is the amount of principal due or and bank credits covered by a guarantee of an ex- in arrears that was rescheduled in any given year. port credit agency. Interest rescheduled is the amount of interest Four characteristics of a country's debt are due or in arrears that was rescheduled in any given given as memorandum items for long-term debt year. outstanding and disbursed (LDOD). Debt forgiven is the amount of principal due Concessional LDOD conveys information or in arrears that was written off or forgiven in about the borrower's receipt of aid from official any given year. lenders at concessional terms as defined by the Interest forgiven is the amount of interest due DAC, that is, loans with an original grant element or in arrears that was written off or forgiven in of 25 percent or more. Loans from major regional any given year. development banks--African Development Bank, Debt stock reduction is the amount that has Asian Development Bank, and the Inter-American been netted out of the stock of debt using debt Development Bank--and from the World Bank are conversion schemes such as buybacks and equity classified as concessional according to each swaps or the discounted value of long-term bonds institution's classification and not according to the that were issued in exchange for outstanding debt. xviii S O U R C E S A N D D E F I N I T I O N S Debt stock-flow reconciliation do not take into account future borrowing by the Stock and flow data on total external debt are rec- debtor country. (See the Methodology section for a onciled for each year, beginning with 1989. The detailed explanation of how undisbursed balances data show the changes in stock that have taken are projected.) place due to the net flow on debt, the net change in interest arrears, the capitalization of interest, Exchange rates the reduction in debt resulting from debt forgive- Data received by the World Bank from its mem- ness or other debt reduction mechanisms, and bers are expressed in the currencies in which the the crosscurrency valuation effects. The residual debts are repayable or in which the transactions difference--the change in stock not explained by took place. For aggregation, the Bank converts any of these factors--is also presented, calculated these amounts to U.S. dollars using the IMF par as the sum of identified accounts minus the change values or central rates, or the current market rates 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 2003. 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 larly, changes in debt outstanding, including the amount committed. It is used as a measure of undisbursed, differ from commitments less repay- the overall cost of borrowing. Loans with an origi- ments. The reasons for these differences are nal grant element of 25 percent or more are cancellations, adjustments caused by the use of defined as concessional. The average grant element different exchange rates, and the rescheduling of has been weighted by the amounts of the loans. other 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 Note to users L repayment patterns owing to prepayment of loans ong-term public and publicly guaranteed debt or to rescheduling or refinancing, including repay- data are as reported for 93 countries; for 26 ment of outstanding arrears, that occurred after other countries the data are preliminary (that is, the last year of reported data. substantially based on reported data) or estimated Projected disbursements are estimates of by World Bank staff. The status of each country is drawings of unutilized balances. The projections given in the Country Groups section. 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 5 This edition includes data on private nonguar- DDSR Debt and debt service reduction anteed debt, either as reported or as estimated, for DRS Debtor Reporting System (of the World 80 countries. Bank) Data for exports, imports, and international EDT Total external debt, including short-term reserves are standard series drawn from the Inter- and use of IMF credit national Monetary Fund (IMF) and maintained in FDI Foreign direct investment the data files of the World Bank. Data for gross GNI Gross national income national income denominated in U.S. dollars are IBRD International Bank for Reconstruction drawn directly from the files of the Macroeconomic and Development/World Bank Data Team of the Development Data Group of the IDA International Development Association World Bank. Data for direct foreign investment are (of the World Bank) drawn from the IMF, and data for grants are drawn IMF International Monetary Fund from the OECD and supplemented by World Bank INT Total interest payments on long-term staff estimates. The charts on pages xxi to xxiii are and short-term debt, including IMF intended to help the reader interpret the debt stocks charges and flows reported in the tables. LDOD Total long-term debt outstanding and Beginning with 1991 all ruble debt owed to disbursed the former Soviet Union is converted at a rate of LIBOR London interbank offered rate $1 0.6 ruble, except in cases where a bilateral MGS Imports of goods and services agreement specifying a different conversion rate is MYRA Multiyear rescheduling agreement in place. This valuation method does not consti- NPV Net present value of debt tute an endorsement by World Bank staff of the ODA Official development assistance appropriateness or validity of this method or the OECD Organisation for Economic Co-operation exchange rate used. The appropriate valuation is a and Development matter to be resolved bilaterally between the Russ- OPEC Organization of Petroleum Exporting ian Federation and its debtor countries. Countries The following abbreviations are used in the RES International reserves principal ratios and indicator tables: SDR Special drawing right (of the IMF) BIS Bank for International Settlements TDS Total debt service on long-term debt and CRS Creditor Reporting System (of the short-term (interest only), including IMF OECD) Credits DAC Development Assistance Committee (of WBXD World Bank External Debt System 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 5 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 (P) Iran, Islamic Rep. of (A) Kenya (A) Turkey (A) Jordan (A) Lesotho (A) Cambodia (A) Turkmenistan (..) Lebanon (A) Liberia (E) China (P) Ukraine (A) Morocco (A) Madagascar (P) Fiji (A) Uzbekistan (A) Oman (A) Malawi (E) Indonesia (A) Syrian Arab Republic (E) Mali (A) Lao PDR (P) Latin America and the Caribbean Tunisia (A) Mauritania (A) Malaysia (A) Yemen, Republic of (A) Mauritius (A) Mongolia (A) Argentina (P) Mozambique (P) Myanmar (E) Barbados (E) Niger (P) Papua New Guinea (A) Belize (A) South Asia Nigeria (A) Philippines (A) Bolivia (A) Rwanda (E) Samoa (A) Brazil (P) Bangladesh (A) São Tomé and Principe (P) Solomon Islands (A) Chile (A) Bhutan (A) Senegal (P) Thailand (P) Colombia (A) India (A) Seychelles (P) Tonga (P) Costa Rica (A) Maldives (A) Sierra Leone (A) Vanuatu (E) Dominica (A) Nepal (A) Somalia (E) Vietnam (P) Dominican Republic (A) Pakistan (P) South Africa (P) Ecuador (P) Sri Lanka (A) Sudan (E) Europe and Central Asia El Salvador (A) Swaziland (A) Grenada (A) Sub-Saharan Africa Tanzania (P) Albania (A) Guatemala (A) Togo (E) Armenia (A) Guyana (A) Angola (P) Uganda (A) Azerbaijan (P) Haiti (A) Benin (A) Zambia (E) Belarus (A) Honduras (A) Botswana (A) Zimbabwe (A) Bosnia and Herzegovinaa (A) Jamaica (A) Burkina Faso (A) Bulgaria (A) Mexico (A) Burundi (A) Croatia (A) Nicaragua (A) Cameroon (A) Czech Republic (P) Panama (A) Cape Verde (A) Estonia (A) Paraguay (A) Central African Republic (A) Georgia (A) Peru (A) Chad (A) Hungary (A) St. Kitts and Nevis (A) Comoros (P) Kazakhstan (A) St. Lucia (A) Congo, Dem. Rep. of (A) Kyrgyz Republic (A) St. Vincent and the Grenadines (A) Congo, Rep. of (E) Latvia (A) Trinidad and Tobago (A) Côte d'Ivoire (E) Lithuania (A) Uruguay (A) Equatorial Guinea (E) Macedonia, FYR (A) Venezuela, R. B. de (A) Eritrea (A) Moldova (A) Ethiopia (P) Poland (A) Middle East and North Africa Gabon (A) Romania (P) Gambia, The (A) Russian Federation (P) Algeria (A) Ghana (P) Serbia and Montenegroa (A) Djibouti (A) Guinea (E) Slovak Republic (A) Egypt, Arab Rep. of (A) Guinea-Bissau (E) Note: 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 re- ported 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 Jordan Nigeria Kazakhstan Angola Pakistan Albania Latvia Bangladesh Papua New Guinea Algeria Lebanon Benin Rwanda Argentina Lithuania Bhutan São Tomé and Principe Armenia Macedonia, FYR Burkina Faso Senegal Azerbaijan Malaysia Burundi Sierra Leone Barbados Maldives Cambodia Solomon Islands Belarus Mauritius Cameroon Somalia Belize Mexico Central African Republic Sudan Bolivia Morocco Chad Tajikistan Botswana Oman Comoros Tanzania Bosnia and Herzegovina Panama Congo, Dem. Rep. of Togo Brazil Paraguay Congo, Rep. of Uganda Bulgaria Peru Côte d'Ivoire Uzbekistan Cape Verde Philippines Equatorial Guinea Vietnam Chile Poland Eritrea Yemen, Republic of China Romania Ethiopia Zambia Colombia Russian Federation Gambia,The Zimbabwe Costa Rica Samoa Ghana Croatia Serbia and Montenegro Guinea Czech Republic Seychelles Guinea-Bissau Djibouti Slovak Republic Haiti Dominica South Africa India Dominican Republic Sri Lanka Kenya Ecuador St. Kitts and Nevis Kyrgyz Republic Egypt, Arab Rep. of St. Lucia Lao PDR El Salvador St. Vincent and the Grenadines Lesotho Estonia Swaziland Liberia Fiji Syrian Arab Republic Madagascar Gabon Thailand Malawi Georgia Tonga Mali Grenada Trinidad and Tobago Mauritania Guatemala Tunisia Moldova Guyana Turkey Mongolia Honduras Turkmenistan Mozambique Hungary Ukraine Myanmar Indonesia Uruguay Nepal Iran, Islamic Rep. of Vanuatu Nicaragua Jamaica Venezuela, R. B. de Note: Low-income countries are those in which 2003 GNI per capita (calculated using the World Bank Atlas method) was no more than $765; middle-income countries are those in which GNI per capita was between $766 and $9,385. xxv . Summary tables xxxi Country classifications for 2005 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 136 countries that report to the Moreover, these indicators do not represent World Bank's Debtor Reporting System (DRS) the an exhaustive set of useful indicators of external debt data are drawn from this source. GNI and debt. They may not, for example, adequately cap- export data are from World Bank files, as shown in ture the debt servicing capacity of countries in the Summary and Country Tables volume of which government budget constraints are key to Global Development Finance. Export figures are debt service difficulties. Countries that allow the earnings from goods and services, including use or free conversion of a foreign currency can worker remittances. Data on official grants are not face government budget difficulties that are related included, although they may be a stable source of to servicing external public debt, but that are not foreign exchange in some countries. necessarily reflected in balance of payments data. The two indebtedness ratios in Global Devel- In other countries, the servicing of domestic public opment Finance 2005 are calculated as follows: debt may be a source of fiscal strain that is not · The ratio of the present value of total debt reflected in balance of payments data. Moreover, service in 2003 to average GNI in 2001, 2002, and rising external debt may not necessarily imply 2003. payment difficulties, especially if there is a com- · The ratio of the present value of total debt ser- mensurate increase in the country's debt servicing vice in 2003 to average exports (including worker capacity. Thus, these indicators should be used in remittances) in 2001, 2002, and 2003. the broader context of a country-specific analysis If either ratio exceeds a critical value--80 per- of 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 For those countries for which a joint debt sustain- to GNI and 132 percent for the present value of ability analysis has been undertaken, the indi- debt service to exports), the country is classified cators are calculated on this basis and shown in as moderately indebted. If both ratios are less italics 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 2003 GNI per capita tion for Economic Co-operation and Development was $765 or less and as middle-income if 2003 (OECD) countries for officially supported export GNI per capita was $766 or more but less than credits. They represent, on average, the most fa- $9,385. Combining these criteria leads to the vorable terms for fixed-rate nonconcessional debt identification of severely indebted low-income that countries are able to contract in international countries (SILICs), severely indebted middle- loan markets. The rates are specified for 14 cur- income countries (SIMICs), moderately indebted rencies, including--British pounds, Canadian low-income countries (MILICs), moderately dollars, Japanese yen, U.S. dollars and the indebted 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. 2003 for the base specified for the loan. Income and indebtedness classification Indebtedness classification PV/XGS less than 220 percent but higher PV/XGS higher than than 132 percent and 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 and PV/GNI less than 48 percent Low-income: GNI per Severely indebted Moderately indebted Less indebted low-income countries capita less than $765 low-income countries low-income countries Middle-income: GNI Severely indebted Moderately indebted Less indebted middle-income countries per capita between $766 middle-income middle-income and $9,385 countries 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 Benin Boliviaa Bangladesh Albania Bhutan Belize Burkina Faso Cape Verdea Equatorial Guinea Algeria Burundi Brazil Cambodia Chile Ghanab Armenia Central African Republic Bulgariaa Cameroon Colombia Haiti Azerbaijan Chad Croatiaa Ethiopiab El Salvadora India Barbados Comoros Dominica Kenya Honduras Lesotho Belarus Congo, Dem. Rep. of Ecuador Madagascara Hungary Malib Bosnia and Herzegovina Congo, Rep. of Estonia Mauritania Jamaicab Mozambique Botswana Côte d'Ivoire Gabon Moldova Lithuania Nepalb China Eritreaa Grenadaa Mongoliac Malaysia Nicaraguab Costa Rica Gambia, Thea Guyanaa Niger Mauritiusa Senegalb Czech Republic Guineaa Indonesia Nigeriab Paraguaya Tanzania Djibouti Guinea-Bissau Jordan Pakistan Philippines Vietnam Dominican Republic Kyrgyz Republic Kazakhstana Papua New Guineab Polanda Yemen, Republic of Egypt, Arab Rep. of Lao PDR Latvia Solomon Islandsa Russian Federation Fiji Liberia Lebanon Ugandaa Slovak Republic Georgiab Malawia Maldives Uzbekistan Sri Lanka Guatemala Myanmar Panama St. Lucia Iran, Islamic Rep. of Rwanda Peru St. Vincent and the Grenadines Macedonia, FYR São Tomé and Principe Samoaa Tunisia Mexico Sierra Leone Serbia and Montenegro Turkmenistan Moroccob Somalia Seychellesa Venezuela, R. B. dea Oman Sudan St. Kitts and Nevisa Romania Tajikistan Syrian Arab Republic South Africa Togo Turkey Swaziland Zambia Uruguay Thailandb Zimbabwea Tonga Trinidad and Tobago Ukraine Vanuatu 27 26 17 22 14 30 Note: Tables classify all World Bank member economies and all other economies with populations of more than 30,000. Economies are divided among income groups according to 2003 GNI per capita, calculated using the World Bank Atlas method. Income groups are low-income, $765 or less; lower-middle-income, $766-$3,035; upper-middle-income, $3,036-$9,385; and high-income, $9,386 or more. a. Countries whose indebtedness classification has worsened. b. Countries whose indebtedness classification has improved. c. Classification excludes the effect of Russian debt settlement. Source: World Bank. 2 2/16/05 12:09 PM ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 70,184 540,923 1,337,033 2,322,912 2,346,638 2,282,550 2,260,516 2,336,472 2,554,138 2,597,062 Long-term debt (LDOD) 60,649 407,137 1,099,227 1,893,959 1,939,851 1,906,754 1,863,304 1,919,840 2,045,215 2,040,791 Public and publicly guaranteed 45,447 338,881 1,039,220 1,394,997 1,405,168 1,363,432 1,325,664 1,375,430 1,450,089 1,459,114 Private nonguaranteed 15,202 68,257 60,007 498,962 534,683 543,322 537,639 544,410 595,126 581,677 Use of IMF credit 756 11,563 34,652 76,942 72,766 58,448 75,281 95,809 106,865 95,880 Short-term debt .. 122,223 203,155 352,011 334,021 317,349 321,931 320,823 402,058 460,390 of which interest arrears on LDOD .. 2,478 52,741 35,925 40,096 32,839 35,412 36,677 47,747 .. Official creditors .. 2,031 19,638 28,090 29,032 23,510 25,262 20,279 22,849 .. Private creditors .. 448 33,103 7,836 11,063 9,329 10,150 16,398 24,898 .. Memo: principal arrears on LDOD .. 2,548 59,778 85,384 83,107 63,412 61,702 63,457 82,268 .. Official creditors .. 1,247 27,256 64,763 64,197 46,985 47,013 40,846 44,567 .. Private creditors .. 1,302 32,521 20,621 18,911 16,427 14,689 22,611 37,700 .. Memo: export credits .. 0 274,367 196,060 187,771 177,269 171,860 187,473 200,723 .. TOTAL DEBT FLOWS Disbursements 12,969 108,188 126,999 302,530 273,819 257,710 275,633 283,123 329,570 300,779 Long-term debt 12,638 102,797 118,758 281,342 259,599 247,595 244,272 248,695 299,949 294,094 IMF purchases 331 5,391 8,242 21,188 14,219 10,114 31,361 34,428 29,621 6,685 Principal repayments 6,603 42,854 83,971 183,205 238,335 256,021 255,191 277,438 318,594 270,656 Long-term debt 5,873 40,885 75,796 176,106 221,925 235,255 243,293 257,026 291,351 253,075 IMF repurchases 730 1,969 8,175 7,099 16,410 20,766 11,898 20,413 27,243 17,581 Net flows on debt 6,417 94,821 56,232 54,870 15,403 -6,193 -3,451 8,480 59,951 83,695 of which short-term debt .. 29,487 13,204 -64,456 -20,081 -7,881 -23,893 2,796 48,975 53,572 Interest payments (INT) .. 43,462 63,961 109,657 113,884 120,525 110,327 95,148 101,180 103,139 Long-term debt 2,290 30,298 51,367 90,223 95,198 100,590 95,332 82,972 88,480 88,666 IMF charges 0 455 2,500 2,502 2,843 2,881 2,671 2,971 2,424 2,490 Short-term debt .. 12,709 10,094 16,932 15,842 17,054 12,324 9,205 10,276 11,983 Net transfers on debt .. 51,359 -7,729 -54,787 -98,481 -126,717 -113,778 -86,667 -41,230 -19,444 Total debt service paid (TDS) .. 86,316 147,932 292,861 352,219 376,546 365,518 372,586 419,774 373,795 Long-term debt 8,164 71,184 127,163 266,329 317,124 335,845 338,625 339,997 379,831 341,741 IMF repurchases and charges 730 2,423 10,675 9,601 19,253 23,647 14,569 23,383 29,667 20,071 Short-term debt (interest only) .. 12,709 10,094 16,932 15,842 17,054 12,324 9,205 10,276 11,983 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 10,664 84,207 96,163 310,015 261,330 219,610 209,742 183,641 228,544 280,691 Net flow of long-term debt (ex. IMF) 6,764 61,912 42,962 105,236 37,674 12,340 979 -8,330 8,598 41,019 Foreign direct investment (net) 1,731 9,588 22,073 171,479 182,429 166,190 174,833 153,952 151,776 165,500 Portfolio equity flows -2 -1 3,390 6,579 12,709 12,374 6,018 5,849 24,812 26,750 Grants (excluding technical coop.) 1,839 12,822 27,738 26,722 28,518 28,706 27,912 32,170 43,358 47,422 Memo: technical coop. grants 1,703 6,239 13,789 15,850 16,160 15,274 16,374 18,818 20,596 22,262 official net resource flows 5,129 33,307 54,140 47,000 44,630 33,605 35,452 23,357 29,100 32,994 private net resource flows 5,535 50,900 42,023 263,015 216,700 186,004 174,289 160,283 199,445 247,698 NET TRANSFERS 7,708 42,928 27,908 161,112 105,980 41,823 35,967 21,267 38,713 87,826 Interest on long-term debt 2,290 30,298 51,367 90,223 95,198 100,590 95,332 82,972 88,480 88,666 Profit remittances on FDI 1,022 11,985 16,888 58,681 60,152 77,197 78,443 79,402 101,352 104,200 Memo: official net transfers 4,271 27,962 35,778 20,894 17,712 6,564 7,336 -843 5,284 11,442 private net transfers 3,437 14,966 -7,871 140,218 88,268 35,258 28,631 22,110 33,429 76,384 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 664,791 2,528,548 3,701,288 5,440,745 5,246,379 5,672,835 5,770,405 5,876,724 6,624,111 7,368,192 Exports of goods, serv. & inc. (XGS) 8,541 368,297 749,936 1,506,724 1,571,642 1,880,783 1,873,934 2,036,753 2,440,118 2,984,559 Worker remit. & comp. of employees 409 17,067 31,229 68,047 71,859 75,637 83,778 98,214 115,860 125,836 Imports of goods & services (MGS) 10,341 425,480 777,738 1,621,171 1,601,899 1,870,945 1,888,989 1,995,245 2,365,585 2,961,831 International reserves (RES) 14,115 165,831 185,710 633,465 666,567 708,368 791,308 974,322 1,277,565 1,585,275 Current account balance -1,830 -49,450 -11,671 -96,340 -11,280 24,924 4,874 59,829 94,056 57,962 4. DEBT INDICATORS EDT / XGS (%) .. 146.9 178.3 154.2 149.3 121.4 120.6 114.7 104.7 87.0 EDT / GNI (%) .. 21.4 36.1 42.7 44.7 40.2 39.2 39.8 38.6 35.2 TDS / XGS (%) .. 23.4 19.7 19.4 22.4 20.0 19.5 18.3 17.2 12.5 INT / XGS (%) .. 11.8 8.5 7.3 7.2 6.4 5.9 4.7 4.1 3.5 INT / GNI (%) .. 1.7 1.7 2.0 2.2 2.1 1.9 1.6 1.5 1.4 RES / EDT (%) .. 30.7 13.9 27.3 28.4 31.0 35.0 41.7 50.0 61.0 RES / MGS (months) .. 4.7 2.9 4.7 5.0 4.5 5.0 5.9 6.5 6.4 Short-term / EDT (%) .. 22.6 15.2 15.2 14.2 13.9 14.2 13.7 15.7 17.7 Concessional / EDT (%) .. 16.6 20.6 16.5 17.2 16.6 16.3 17.3 18.0 17.3 Multilateral / EDT (%) .. 8.6 15.2 13.7 14.2 14.6 15.0 15.3 14.9 14.7 3 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 60,649 407,137 1,099,227 1,893,959 1,939,851 1,906,754 1,863,304 1,919,840 2,045,215 2,040,791 Public and publicly guaranteed 45,447 338,881 1,039,220 1,394,997 1,405,168 1,363,432 1,325,664 1,375,430 1,450,089 1,459,114 Official creditors 33,044 149,882 551,144 789,845 809,013 781,048 751,637 778,908 826,485 800,704 Multilateral 7,282 46,261 203,384 317,326 333,652 333,265 338,540 358,647 381,447 382,783 Concessional 2,046 18,007 68,498 124,366 129,886 129,269 131,050 147,614 167,028 171,696 Bilateral 25,762 103,620 347,759 472,520 475,361 447,783 413,097 420,261 445,039 417,920 Concessional 22,132 71,748 206,989 259,805 272,885 250,590 237,686 257,486 292,556 278,659 Private creditors 12,404 189,198 488,076 605,152 596,155 582,384 574,027 596,522 623,604 658,411 Bonds 1,810 12,812 104,277 323,040 341,973 372,050 372,346 396,396 426,772 465,268 Commercial banks 3,623 122,109 248,959 197,660 170,447 139,718 135,923 139,666 141,729 144,173 Other private 6,970 54,277 134,840 84,452 83,735 70,615 65,758 60,459 55,103 48,969 Private nonguaranteed 15,202 68,257 60,007 498,962 534,683 543,322 537,639 544,410 595,126 581,677 Bonds 0 0 347 95,797 99,255 96,801 95,348 95,130 108,923 129,488 Commercial banks and other 15,202 68,257 59,661 403,165 435,428 446,521 442,291 449,280 486,203 452,189 Memo: IBRD 4,377 20,432 92,314 108,455 111,329 112,145 112,530 111,303 109,036 104,526 IDA 1,806 11,775 45,005 84,088 86,604 86,843 89,220 100,613 113,842 117,488 DISBURSEMENTS 12,638 102,797 118,758 281,342 259,599 247,595 244,272 248,695 299,949 294,094 Public and publicly guaranteed 8,512 81,894 101,482 158,667 142,758 137,838 119,535 112,786 124,250 158,205 Official creditors 4,838 27,477 49,437 63,630 60,594 53,976 51,340 46,277 49,837 47,709 Multilateral 1,193 8,975 27,310 41,773 37,277 34,958 34,184 32,280 38,168 27,832 Concessional 255 2,833 6,826 8,977 8,876 8,077 9,416 9,886 10,830 10,145 Bilateral 3,645 18,502 22,127 21,857 23,318 19,018 17,155 13,998 11,669 19,877 Concessional 2,899 10,576 13,368 13,573 17,018 13,159 12,315 8,949 9,433 14,246 Private creditors 3,674 54,417 52,045 95,037 82,164 83,862 68,196 66,509 74,413 110,495 Bonds 149 1,653 5,176 52,371 50,988 56,119 44,751 40,431 51,518 72,710 Commercial banks 1,368 32,876 16,156 32,032 18,951 19,506 17,025 21,220 18,248 31,959 Other private 2,157 19,888 30,713 10,635 12,225 8,236 6,420 4,858 4,647 5,826 Private nonguaranteed 4,126 20,903 17,276 122,675 116,841 109,757 124,737 135,909 175,699 135,890 Bonds 0 0 291 19,863 13,763 11,757 11,010 11,591 24,219 35,018 Commercial banks and other 4,126 20,903 16,985 102,812 103,078 98,000 113,727 124,318 151,480 100,872 Memo: IBRD 672 4,224 13,438 14,376 14,082 13,430 12,305 10,288 11,411 8,298 IDA 173 1,587 4,345 5,556 5,397 5,219 6,091 6,768 6,378 6,347 PRINCIPAL REPAYMENTS 5,873 40,885 75,796 176,106 221,925 235,255 243,293 257,026 291,351 253,075 Public and publicly guaranteed 3,426 29,198 68,513 104,251 110,298 122,141 120,117 122,265 143,614 125,045 Official creditors 1,548 6,992 23,035 43,351 44,483 49,076 43,799 55,090 64,096 62,138 Multilateral 386 1,559 11,898 18,383 18,958 23,158 18,869 30,847 36,398 29,062 Concessional 30 105 898 1,980 2,066 2,435 2,459 2,503 2,802 2,773 Bilateral 1,162 5,433 11,137 24,968 25,525 25,918 24,930 24,243 27,697 33,076 Concessional 668 2,474 4,821 11,528 12,017 12,544 10,726 10,627 13,187 17,895 Private creditors 1,878 22,206 45,478 60,900 65,815 73,065 76,318 67,175 79,518 62,907 Bonds 143 513 4,386 22,848 23,201 35,322 34,505 28,339 38,732 30,356 Commercial banks 685 13,353 22,686 22,261 28,919 25,232 28,841 27,511 29,835 21,040 Other private 1,050 8,340 18,406 15,791 13,695 12,511 12,972 11,325 10,951 11,511 Private nonguaranteed 2,448 11,687 7,283 71,855 111,628 113,114 123,176 134,761 147,737 128,030 Bonds 0 0 0 9,666 11,728 15,060 10,305 12,516 10,389 14,395 Commercial banks and other 2,448 11,687 7,283 62,189 99,900 98,054 112,871 122,245 137,349 113,635 Memo: IBRD 248 996 7,939 10,487 9,834 9,827 9,806 16,022 17,628 14,465 IDA 0 30 248 732 869 949 1,085 1,243 1,322 1,540 NET FLOWS ON DEBT 6,764 61,912 42,962 105,236 37,674 12,340 979 -8,330 8,598 41,019 Public and publicly guaranteed 5,086 52,696 32,969 54,416 32,460 15,697 -582 -9,478 -19,364 33,159 Official creditors 3,290 20,485 26,402 20,278 16,112 4,900 7,541 -8,813 -14,258 -14,429 Multilateral 807 7,416 15,412 23,390 18,319 11,800 15,315 1,433 1,770 -1,230 Concessional 225 2,728 5,927 6,998 6,810 5,643 6,956 7,383 8,027 7,372 Bilateral 2,483 13,069 10,990 -3,111 -2,207 -6,900 -7,775 -10,245 -16,029 -13,199 Concessional 2,231 8,102 8,548 2,044 5,000 615 1,589 -1,678 -3,754 -3,649 Private creditors 1,796 32,211 6,567 34,138 16,349 10,797 -8,122 -666 -5,105 47,588 Bonds 6 1,140 791 29,523 27,787 20,798 10,246 12,092 12,785 42,354 Commercial banks 683 19,524 -6,530 9,770 -9,968 -5,726 -11,816 -6,290 -11,586 10,919 Other private 1,108 11,548 12,307 -5,156 -1,470 -4,275 -6,552 -6,468 -6,304 -5,685 Private nonguaranteed 1,678 9,216 9,992 50,820 5,213 -3,356 1,561 1,148 27,962 7,860 Bonds 0 0 291 10,197 2,035 -3,302 705 -925 13,831 20,623 Commercial banks and other 1,678 9,216 9,701 40,623 3,178 -54 856 2,073 14,131 -12,763 Memo: IBRD 423 3,227 5,499 3,889 4,248 3,603 2,499 -5,734 -6,217 -6,167 IDA 172 1,556 4,097 4,824 4,528 4,271 5,007 5,525 5,056 4,808 4 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 INTEREST PAYMENTS (LINT) 2,290 30,298 51,367 90,223 95,198 100,590 95,332 82,972 88,480 88,666 Public and publicly guaranteed 1,537 23,613 46,791 61,590 63,015 67,522 64,546 57,768 61,352 58,779 Official creditors 858 5,344 18,362 26,106 26,917 27,041 28,117 24,200 23,816 21,552 Multilateral 308 2,356 10,505 12,674 14,899 15,592 15,283 13,682 12,226 9,749 Concessional 20 164 622 1,143 1,205 1,204 1,182 1,337 1,414 1,467 Bilateral 551 2,989 7,857 13,431 12,018 11,449 12,833 10,519 11,590 11,802 Concessional 385 1,520 3,325 6,193 5,897 5,258 5,026 4,838 5,780 6,263 Private creditors 679 18,269 28,429 35,484 36,098 40,481 36,429 33,568 37,535 37,227 Bonds 98 935 4,376 19,677 23,177 26,791 23,241 22,700 25,879 27,449 Commercial banks 253 13,678 17,439 10,739 8,622 9,899 9,696 8,502 9,318 7,405 Other private 328 3,655 6,614 5,069 4,299 3,791 3,492 2,366 2,338 2,374 Private nonguaranteed 753 6,685 4,577 28,633 32,183 33,068 30,786 25,204 27,128 29,887 Bonds 0 0 3 6,918 7,609 8,042 7,981 6,913 8,027 8,482 Commercial banks and other 753 6,685 4,574 21,715 24,574 25,026 22,805 18,291 19,102 21,405 Memo: IBRD 243 1,669 6,868 6,612 7,267 7,682 7,469 6,392 5,133 3,917 IDA 12 78 301 550 588 578 576 695 698 799 NET TRANSFERS ON DEBT 4,474 31,613 -8,406 15,013 -57,524 -88,249 -94,353 -91,302 -79,882 -47,647 Public and publicly guaranteed 3,549 29,083 -13,821 -7,174 -30,555 -51,825 -65,127 -67,246 -80,716 -25,620 Official creditors 2,432 15,141 8,040 -5,827 -10,805 -22,141 -20,576 -33,013 -38,075 -35,980 Multilateral 500 5,060 4,908 10,715 3,420 -3,792 32 -12,249 -10,456 -10,979 Concessional 206 2,564 5,306 5,855 5,605 4,439 5,774 6,046 6,614 5,905 Bilateral 1,932 10,080 3,133 -16,542 -14,225 -18,349 -20,608 -20,764 -27,619 -25,001 Concessional 1,846 6,582 5,222 -4,149 -897 -4,643 -3,438 -6,516 -9,534 -9,913 Private creditors 1,117 13,942 -21,862 -1,347 -19,749 -29,684 -44,551 -34,233 -42,641 10,361 Bonds -92 204 -3,585 9,847 4,610 -5,993 -12,995 -10,608 -13,094 14,905 Commercial banks 430 5,845 -23,969 -968 -18,590 -15,625 -21,512 -14,792 -20,905 3,514 Other private 779 7,893 5,693 -10,225 -5,769 -8,066 -10,044 -8,833 -8,642 -8,058 Private nonguaranteed 925 2,530 5,416 22,187 -26,970 -36,424 -29,225 -24,056 833 -22,027 Bonds 0 0 288 3,279 -5,573 -11,344 -7,277 -7,838 5,804 12,141 Commercial banks and other 925 2,530 5,128 18,908 -21,396 -25,080 -21,949 -16,218 -4,971 -34,168 Memo: IBRD 181 1,558 -1,369 -2,723 -3,019 -4,079 -4,970 -12,126 -11,350 -10,084 IDA 161 1,478 3,796 4,274 3,940 3,693 4,430 4,830 4,358 4,009 DEBT SERVICE (LTDS) 8,164 71,184 127,163 266,329 317,124 335,845 338,625 339,997 379,831 341,741 Public and publicly guaranteed 4,963 52,811 115,303 165,841 173,313 189,663 184,663 180,032 204,965 183,824 Official creditors 2,406 12,336 41,397 69,457 71,400 76,117 71,916 79,290 87,912 83,690 Multilateral 694 3,914 22,402 31,057 33,857 38,750 34,152 44,529 48,625 38,811 Concessional 49 269 1,520 3,123 3,271 3,638 3,641 3,840 4,216 4,240 Bilateral 1,713 8,422 18,994 38,400 37,543 37,367 37,763 34,761 39,287 44,878 Concessional 1,054 3,994 8,146 17,721 17,915 17,802 15,753 15,465 18,967 24,159 Private creditors 2,557 40,475 73,907 96,384 101,913 113,546 112,747 100,742 117,054 100,135 Bonds 241 1,449 8,762 42,524 46,378 62,113 57,746 51,039 64,612 57,805 Commercial banks 938 27,031 40,125 33,000 37,541 35,131 38,537 36,013 39,153 28,445 Other private 1,378 11,996 25,020 20,860 17,994 16,302 16,464 13,691 13,289 13,884 Private nonguaranteed 3,200 18,372 11,860 100,488 143,811 146,181 153,962 159,965 174,866 157,917 Bonds 0 0 3 16,584 19,337 23,102 18,286 19,429 18,415 22,877 Commercial banks and other 3,200 18,372 11,857 83,904 124,474 123,080 135,676 140,536 156,450 135,040 Memo: IBRD 491 2,666 14,807 17,099 17,101 17,509 17,275 22,414 22,761 18,381 IDA 12 109 549 1,282 1,457 1,527 1,661 1,938 2,020 2,338 UNDISBURSED DEBT 16,780 136,710 217,874 280,322 303,574 235,691 212,501 211,511 213,033 .. Official creditors 13,167 88,069 162,540 215,688 243,434 182,310 168,825 170,649 163,535 .. Private creditors 3,612 48,641 55,334 64,634 60,140 53,381 43,676 40,862 49,498 .. Memorandum items Concessional LDOD 24,178 89,755 275,487 384,172 402,771 379,859 368,737 405,101 459,584 .. Variable rate LDOD 15,964 184,847 431,347 979,783 988,354 939,826 909,996 916,336 966,872 .. Public sector LDOD 44,172 332,042 1,035,888 1,386,518 1,396,143 1,356,086 1,319,488 1,368,253 1,442,070 .. Private sector LDOD 16,477 75,294 63,339 507,442 543,708 550,667 543,816 551,587 603,145 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 15.5 18.1 .. Deutsche mark 8.6 7.3 9.1 8.4 6.8 5.8 5.0 .. .. .. French franc 5.3 6.2 6.0 4.1 3.3 2.9 2.6 .. .. .. Japanese yen 2.1 6.9 10.7 11.2 12.7 11.6 10.4 10.7 10.9 .. Pound sterling 11.2 3.7 2.4 1.4 1.3 1.0 0.9 0.9 1.2 .. Swiss franc 1.1 1.7 2.0 0.5 0.4 0.4 0.4 0.5 0.5 .. U.S.dollars 46.0 53.4 43.7 58.1 58.8 62.3 64.2 63.1 60.7 .. Multiple currency 11.9 11.6 15.4 8.4 8.4 7.6 7.0 6.2 5.5 .. Special drawing rights 0.0 0.1 0.5 0.4 0.4 0.4 0.4 0.4 0.4 .. All other currencies 13.7 9.3 10.5 7.6 8.0 8.1 9.0 2.7 2.7 .. 5 ALL DEVELOPING COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 7. DEBT RESTRUCTURINGS Total amount rescheduled 117 3,325 79,328 18,555 31,099 60,847 23,681 18,969 10,421 .. Debt stock rescheduled 0 1 61,849 8,117 7,350 23,193 12,295 2,319 3,367 .. Principal rescheduled 0 393 10,277 6,412 13,616 20,798 9,288 9,117 5,592 .. Official 0 137 5,826 4,508 9,783 17,124 6,691 8,150 4,963 .. Private 0 257 4,451 1,904 3,833 3,674 2,596 966 629 .. Interest rescheduled 0 71 5,799 1,584 6,973 13,987 1,100 3,921 806 .. Official 0 38 4,577 1,204 6,297 11,193 884 3,707 682 .. Private 0 33 1,221 381 676 2,794 215 214 124 .. Debt forgiven 10 276 12,628 605 4,826 937 1,653 5,001 1,846 .. Memo: interest forgiven 0 0 2,890 598 531 1,963 1,483 2,230 667 .. Debt stock reduction 0 0 26,145 4,001 7,892 41,596 18,845 5,898 1,084 .. of which debt buyback 0 0 4,359 3,008 5,345 17,016 13,639 4,272 0 .. 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks 22,462 113,538 99,093 213,254 23,726 -64,088 -22,034 75,955 217,667 .. Net flows on debt 6,417 94,821 56,232 54,870 15,403 -6,193 -3,451 8,480 59,951 83,695 Net change in interest arrears 15 623 15,564 5,920 4,170 -7,257 2,573 1,265 11,069 .. Interest capitalized 0 71 5,799 1,584 6,973 13,987 1,100 3,921 806 .. Debt forgiveness or reduction -10 -276 -34,414 -1,598 -7,372 -25,518 -6,859 -6,628 -2,930 .. Cross-currency valuation -421 -4,652 46,596 29,063 -18,370 -53,084 -40,947 71,181 87,441 .. Residual 16,461 22,950 9,317 123,417 22,922 13,977 25,552 -2,265 61,329 .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.0 9.1 7.0 6.5 6.4 6.9 5.5 5.1 4.8 .. Maturity (years) 21.2 16.0 17.0 12.8 13.7 13.8 14.5 24.1 13.2 .. Grace period (years) 6.5 4.8 5.8 5.7 5.7 7.1 6.4 6.6 7.4 .. Grant element (%) 33.6 10.0 20.4 17.4 20.9 15.5 25.3 29.3 27.3 .. Official creditors Interest (%) 3.6 5.3 5.5 5.2 4.3 4.9 3.9 3.1 2.9 .. Maturity (years) 28.3 24.3 22.4 16.2 19.8 20.0 21.0 22.7 19.8 .. Grace period (years) 9.1 6.3 6.6 4.5 5.6 5.2 5.4 6.0 5.3 .. Grant element (%) 47.3 34.3 33.2 27.4 37.6 33.5 39.9 46.8 46.0 .. Private creditors Interest (%) 7.2 11.8 8.5 7.6 8.1 8.0 6.8 6.7 5.7 .. Maturity (years) 9.5 9.9 11.4 10.1 8.7 10.5 9.3 25.3 9.9 .. Grace period (years) 2.4 3.7 4.9 6.8 5.8 8.1 7.3 7.1 8.4 .. Grant element (%) 11.5 -7.8 7.0 9.1 7.2 6.0 13.4 14.5 18.1 .. Memorandum items Commitments 11,395 94,527 119,958 188,869 147,798 147,823 144,355 111,117 129,257 .. Official creditors 7,053 39,975 61,300 85,389 66,228 51,023 64,288 50,684 42,849 .. Private creditors 4,342 54,552 58,658 103,480 81,570 96,801 80,067 60,432 86,408 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 350.0 2004 2004 300.0 2003 2003 250.0 2002 2002 200.0 2001 2001 150.0 2000 2000 1999 1999 100.0 1998 1998 50.0 1997 1997 0.0 1997 1998 1999 2000 2001 2002 2003 2004 -50.0 0.0 50.0 100.0 150.0 200.0 250.0 -20.0 0.0 20.0 40.0 60.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 6 2/16/05 12:11 PM EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 8,582 60,730 234,081 533,196 538,614 500,703 501,982 498,246 525,535 536,541 Long-term debt (LDOD) 7,092 45,081 194,621 432,749 448,800 421,092 397,829 387,651 387,943 380,421 Public and publicly guaranteed 5,088 36,330 172,986 274,058 291,475 271,645 264,367 266,067 267,440 261,955 Private nonguaranteed 2,004 8,751 21,635 158,691 157,324 149,447 133,462 121,584 120,503 118,466 Use of IMF credit 224 1,551 2,085 14,511 16,056 16,452 13,384 11,618 12,131 10,687 Short-term debt .. 14,098 37,374 85,936 73,759 63,160 90,769 98,977 125,462 145,433 of which interest arrears on LDOD .. 2 1,885 2,109 5,810 5,337 6,364 7,319 8,453 .. Official creditors .. 1 1,135 2,051 2,257 660 688 860 985 .. Private creditors .. 1 751 58 3,553 4,677 5,677 6,459 7,468 .. Memo: principal arrears on LDOD .. 5 2,965 13,337 14,591 7,415 7,520 7,964 14,824 .. Official creditors .. 1 1,790 10,377 11,339 4,184 4,290 4,709 5,139 .. Private creditors .. 4 1,175 2,960 3,252 3,231 3,230 3,255 9,685 .. Memo: export credits .. 0 28,038 36,193 36,048 33,857 32,516 35,536 39,340 .. TOTAL DEBT FLOWS Disbursements 1,584 12,795 29,504 48,398 50,908 41,858 44,739 48,768 56,507 59,736 Long-term debt 1,518 12,271 29,445 41,217 48,886 40,365 44,135 47,256 54,552 59,736 IMF purchases 66 524 58 7,181 2,022 1,493 604 1,513 1,954 0 Principal repayments 618 4,271 18,662 37,518 49,204 47,923 54,534 69,230 73,462 62,594 Long-term debt 612 4,066 17,377 37,348 49,085 47,655 51,412 64,993 70,973 61,293 IMF repurchases 6 205 1,286 170 118 267 3,121 4,237 2,489 1,300 Net flows on debt 966 11,905 18,636 -32,462 -12,174 -16,191 -9,115 -13,208 1,722 17,229 of which short-term debt .. 3,380 7,795 -43,341 -13,878 -10,126 679 7,254 18,677 20,087 Interest payments (INT) .. 4,814 12,509 24,426 24,645 25,220 22,931 18,052 18,546 20,240 Long-term debt 162 3,000 10,154 19,023 20,239 20,412 18,799 14,557 14,745 16,164 IMF charges 0 60 245 361 565 793 692 360 203 199 Short-term debt .. 1,754 2,110 5,041 3,841 4,015 3,440 3,136 3,598 3,877 Net transfers on debt .. 7,091 6,127 -56,887 -36,819 -41,410 -32,046 -31,261 -16,824 -3,010 Total debt service paid (TDS) .. 9,085 31,172 61,944 73,848 73,142 77,465 87,283 92,008 82,834 Long-term debt 774 7,065 27,531 56,372 69,324 68,067 70,211 79,550 85,718 77,458 IMF repurchases and charges 6 265 1,531 531 683 1,060 3,814 4,597 2,692 1,499 Short-term debt (interest only) .. 1,754 2,110 5,041 3,841 4,015 3,440 3,136 3,598 3,877 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 1,731 10,645 25,102 60,541 54,580 44,220 44,493 44,140 57,547 78,331 Net flow of long-term debt (ex. IMF) 906 8,206 12,069 3,869 -199 -7,290 -7,277 -17,738 -16,421 -1,557 Foreign direct investment (net) 201 1,369 10,512 57,662 49,950 44,245 48,237 55,645 59,612 63,600 Portfolio equity flows 0 -4 440 -3,449 2,321 4,767 1,353 4,013 11,850 13,550 Grants (excluding technical coop.) 624 1,131 2,081 2,460 2,508 2,498 2,180 2,220 2,506 2,738 Memo: technical coop. grants 386 1,001 2,400 2,677 2,657 2,905 2,721 2,874 3,461 3,780 official net resource flows 1,091 3,515 7,922 10,130 13,175 8,274 7,880 -2,916 -4,502 -5,132 private net resource flows 640 7,130 17,180 50,411 41,405 35,946 36,614 47,056 62,049 83,463 NET TRANSFERS 1,569 5,971 9,789 16,521 6,082 -9,967 -8,857 -2,560 10,408 27,766 Interest on long-term debt 162 3,000 10,154 19,023 20,239 20,412 18,799 14,557 14,745 16,164 Profit remittances on FDI 0 1,675 5,159 24,996 28,259 33,775 34,552 32,143 32,394 34,400 Memo: official net transfers 1,030 2,805 4,250 4,215 6,378 1,004 433 -8,415 -9,836 -10,265 private net transfers 539 3,166 5,539 12,307 -296 -10,971 -9,291 5,856 20,244 38,032 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 123,552 365,035 654,855 1,314,813 1,432,654 1,544,802 1,622,895 1,782,820 2,003,284 2,232,757 Exports of goods, serv. & inc. (XGS) 0 33,946 176,961 488,266 530,544 643,068 629,551 714,577 875,779 1,091,059 Worker remit. & comp. of employees 0 1,079 3,172 9,126 11,414 11,189 12,922 16,502 19,707 20,259 Imports of goods & services (MGS) 0 39,689 182,848 434,122 477,061 597,538 598,822 665,874 816,582 1,078,053 International reserves (RES) 2,124 30,740 71,348 246,835 274,780 284,194 333,825 426,472 566,012 758,893 Current account balance 0 -4,935 -3,156 59,008 60,013 53,606 39,663 61,358 77,985 33,545 4. DEBT INDICATORS EDT / XGS (%) .. 178.9 132.3 109.2 101.5 77.9 79.7 69.7 60.0 49.2 EDT / GNI (%) .. 16.6 35.7 40.6 37.6 32.4 30.9 27.9 26.2 24.0 TDS / XGS (%) .. 26.8 17.6 12.7 13.9 11.4 12.3 12.2 10.5 7.6 INT / XGS (%) .. 14.2 7.1 5.0 4.6 3.9 3.6 2.5 2.1 1.9 INT / GNI (%) .. 1.3 1.9 1.9 1.7 1.6 1.4 1.0 0.9 0.9 RES / EDT (%) .. 50.6 30.5 46.3 51.0 56.8 66.5 85.6 107.7 141.4 RES / MGS (months) .. 9.3 4.7 6.8 6.9 5.7 6.7 7.7 8.3 8.4 Short-term / EDT (%) .. 23.2 16.0 16.1 13.7 12.6 18.1 19.9 23.9 27.1 Concessional / EDT (%) .. 19.1 29.4 17.7 20.0 20.8 19.9 21.8 23.1 21.4 Multilateral / EDT (%) .. 9.0 14.9 11.2 12.0 13.2 13.2 13.3 12.6 12.0 7 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 7,092 45,081 194,621 432,749 448,800 421,092 397,829 387,651 387,943 380,421 Public and publicly guaranteed 5,088 36,330 172,986 274,058 291,475 271,645 264,367 266,067 267,440 261,955 Official creditors 4,134 18,096 104,718 164,591 184,290 171,797 167,171 171,829 178,627 168,695 Multilateral 451 5,449 34,976 59,636 64,429 65,874 66,245 66,324 66,185 64,503 Concessional 9 1,193 7,347 16,717 17,725 17,433 17,480 19,677 22,531 22,526 Bilateral 3,683 12,647 69,742 104,955 119,861 105,923 100,926 105,505 112,442 104,192 Concessional 3,132 10,413 61,559 77,530 90,155 86,742 82,448 89,179 98,797 92,503 Private creditors 954 18,235 68,268 109,467 107,186 99,848 97,197 94,238 88,813 93,260 Bonds 125 1,655 11,814 33,422 34,663 35,943 36,079 38,247 42,167 51,165 Commercial banks 303 9,242 35,213 49,528 38,439 32,611 30,964 27,138 21,595 20,628 Other private 525 7,338 21,240 26,518 34,083 31,294 30,155 28,853 25,051 21,467 Private nonguaranteed 2,004 8,751 21,635 158,691 157,324 149,447 133,462 121,584 120,503 118,466 Bonds 0 0 160 30,571 29,159 24,911 21,642 19,493 18,425 19,511 Commercial banks and other 2,004 8,751 21,476 128,119 128,165 124,536 111,820 102,091 102,078 98,955 Memo: IBRD 434 3,229 20,176 28,026 29,757 30,476 30,310 28,656 26,968 24,744 IDA 6 848 5,130 12,131 12,513 12,520 12,701 14,108 16,119 16,342 DISBURSEMENTS 1,518 12,271 29,445 41,217 48,886 40,365 44,135 47,256 54,552 59,736 Public and publicly guaranteed 755 9,360 19,604 29,289 34,285 26,919 24,190 20,733 19,247 29,761 Official creditors 546 3,042 10,106 15,752 20,604 16,054 14,337 10,094 9,347 9,487 Multilateral 68 1,231 4,711 8,058 7,120 6,942 5,524 5,231 4,900 3,188 Concessional 7 151 1,030 1,318 1,125 1,173 1,119 1,055 1,388 1,029 Bilateral 478 1,811 5,396 7,693 13,484 9,112 8,813 4,863 4,448 6,300 Concessional 424 1,202 4,593 7,078 10,959 7,519 7,597 3,920 3,684 5,562 Private creditors 209 6,317 9,498 13,537 13,681 10,865 9,854 10,639 9,900 20,273 Bonds 0 235 852 2,125 6,627 4,539 5,117 7,049 5,331 13,543 Commercial banks 89 3,066 4,090 7,484 2,841 2,540 2,344 1,628 3,825 4,864 Other private 120 3,016 4,555 3,928 4,213 3,786 2,392 1,962 744 1,866 Private nonguaranteed 764 2,911 9,841 11,928 14,601 13,446 19,945 26,523 35,305 29,976 Bonds 0 0 120 1,059 795 1,106 1,613 986 1,916 3,538 Commercial banks and other 764 2,911 9,721 10,869 13,806 12,341 18,332 25,536 33,389 26,438 Memo: IBRD 57 793 2,532 3,819 3,804 3,245 2,631 2,491 2,132 1,329 IDA 4 92 604 920 705 700 732 651 944 697 PRINCIPAL REPAYMENTS 612 4,066 17,377 37,348 49,085 47,655 51,412 64,993 70,973 61,293 Public and publicly guaranteed 228 2,184 14,808 17,472 24,983 23,442 22,443 29,762 31,397 29,980 Official creditors 79 659 4,266 8,081 9,937 10,277 8,637 15,230 16,355 17,358 Multilateral 22 157 2,032 2,650 2,929 4,063 3,436 7,669 7,614 5,552 Concessional 0 7 77 138 182 448 264 266 309 334 Bilateral 57 501 2,234 5,431 7,008 6,214 5,202 7,561 8,742 11,806 Concessional 37 260 1,071 4,273 5,508 4,806 3,608 3,628 4,935 9,302 Private creditors 150 1,526 10,542 9,390 15,045 13,165 13,806 14,533 15,041 12,622 Bonds 32 41 1,925 811 4,152 1,211 2,836 4,929 2,293 2,745 Commercial banks 41 493 5,395 4,988 6,878 7,159 6,976 5,453 8,987 4,560 Other private 76 991 3,223 3,591 4,015 4,794 3,994 4,151 3,762 5,317 Private nonguaranteed 384 1,881 2,569 19,876 24,103 24,213 28,969 35,231 39,576 31,313 Bonds 0 0 0 1,722 2,383 5,168 3,491 3,006 2,982 2,452 Commercial banks and other 384 1,881 2,569 18,154 21,720 19,045 25,478 32,225 36,594 28,862 Memo: IBRD 22 118 1,462 1,845 1,979 2,006 2,322 4,702 4,334 4,164 IDA 0 2 19 68 89 107 132 162 199 222 NET FLOWS ON DEBT 906 8,206 12,069 3,869 -199 -7,290 -7,277 -17,738 -16,421 -1,557 Public and publicly guaranteed 526 7,175 4,796 11,817 9,302 3,477 1,747 -9,030 -12,150 -219 Official creditors 467 2,384 5,841 7,670 10,666 5,777 5,699 -5,136 -7,008 -7,870 Multilateral 46 1,074 2,679 5,408 4,191 2,879 2,088 -2,438 -2,714 -2,364 Concessional 7 145 953 1,180 943 724 855 789 1,080 695 Bilateral 421 1,310 3,162 2,262 6,476 2,898 3,611 -2,698 -4,294 -5,507 Concessional 387 942 3,522 2,805 5,451 2,713 3,989 292 -1,250 -3,740 Private creditors 59 4,792 -1,044 4,147 -1,364 -2,300 -3,952 -3,894 -5,142 7,651 Bonds -32 194 -1,072 1,314 2,475 3,328 2,281 2,121 3,038 10,798 Commercial banks 48 2,573 -1,305 2,496 -4,037 -4,620 -4,631 -3,825 -5,162 304 Other private 44 2,025 1,333 337 198 -1,008 -1,602 -2,189 -3,018 -3,451 Private nonguaranteed 380 1,030 7,272 -7,948 -9,501 -10,767 -9,024 -8,708 -4,271 -1,338 Bonds 0 0 120 -663 -1,588 -4,062 -1,879 -2,020 -1,066 1,086 Commercial banks and other 380 1,030 7,152 -7,285 -7,914 -6,705 -7,145 -6,689 -3,205 -2,424 Memo: IBRD 35 675 1,070 1,974 1,825 1,239 309 -2,211 -2,202 -2,835 IDA 4 90 585 852 615 593 600 489 746 475 8 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 INTEREST PAYMENTS (LINT) 162 3,000 10,154 19,023 20,239 20,412 18,799 14,557 14,745 16,164 Public and publicly guaranteed 94 2,124 8,864 11,790 12,314 12,872 12,914 10,034 10,128 10,212 Official creditors 61 710 3,672 5,915 6,797 7,271 7,446 5,499 5,334 5,133 Multilateral 25 354 2,146 2,691 3,134 3,836 4,031 3,274 2,576 2,041 Concessional 0 12 63 127 143 147 148 148 164 172 Bilateral 37 356 1,526 3,224 3,663 3,434 3,415 2,225 2,758 3,092 Concessional 28 208 994 2,282 2,486 2,216 2,147 1,553 2,084 2,551 Private creditors 32 1,414 5,192 5,875 5,517 5,601 5,467 4,534 4,793 5,079 Bonds 9 88 923 1,735 2,085 2,300 2,640 2,447 2,829 3,029 Commercial banks 13 824 2,795 2,154 1,886 1,895 1,647 1,094 740 630 Other private 10 501 1,474 1,986 1,546 1,406 1,180 993 1,224 1,420 Private nonguaranteed 68 876 1,290 7,233 7,925 7,540 5,885 4,523 4,617 5,952 Bonds 0 0 2 2,053 1,986 1,942 1,610 1,381 1,363 1,392 Commercial banks and other 68 876 1,289 5,180 5,939 5,598 4,275 3,142 3,255 4,561 Memo: IBRD 25 261 1,521 1,725 1,972 2,146 2,105 1,875 1,461 1,136 IDA 0 6 34 77 85 87 87 94 104 117 NET TRANSFERS ON DEBT 744 5,206 1,914 -15,155 -20,438 -27,702 -26,076 -32,294 -31,166 -17,722 Public and publicly guaranteed 433 5,052 -4,068 27 -3,012 -9,395 -11,166 -19,063 -22,277 -10,431 Official creditors 406 1,674 2,169 1,755 3,870 -1,494 -1,747 -10,635 -12,342 -13,003 Multilateral 21 719 533 2,717 1,057 -957 -1,943 -5,712 -5,290 -4,405 Concessional 7 133 890 1,053 800 578 707 642 916 523 Bilateral 385 954 1,636 -962 2,813 -537 196 -4,923 -7,052 -8,598 Concessional 359 734 2,528 524 2,965 497 1,841 -1,261 -3,334 -6,291 Private creditors 27 3,378 -6,236 -1,728 -6,882 -7,901 -9,419 -8,428 -9,935 2,572 Bonds -41 106 -1,995 -421 390 1,027 -359 -327 209 7,769 Commercial banks 35 1,749 -4,100 342 -5,924 -6,515 -6,278 -4,919 -5,902 -326 Other private 33 1,524 -141 -1,649 -1,348 -2,413 -2,782 -3,182 -4,242 -4,871 Private nonguaranteed 312 154 5,982 -15,181 -17,426 -18,307 -14,909 -13,231 -8,888 -7,290 Bonds 0 0 118 -2,717 -3,574 -6,004 -3,489 -3,400 -2,429 -305 Commercial banks and other 312 154 5,864 -12,465 -13,853 -12,303 -11,420 -9,831 -6,460 -6,985 Memo: IBRD 11 414 -451 249 -147 -907 -1,796 -4,086 -3,663 -3,971 IDA 4 84 551 775 530 506 514 396 641 358 DEBT SERVICE (LTDS) 774 7,065 27,531 56,372 69,324 68,067 70,211 79,550 85,718 77,458 Public and publicly guaranteed 322 4,308 23,672 29,262 37,297 36,313 35,357 39,796 41,524 40,192 Official creditors 140 1,369 7,938 13,997 16,734 17,548 16,084 20,729 21,690 22,491 Multilateral 47 512 4,178 5,342 6,063 7,899 7,467 10,943 10,190 7,593 Concessional 0 18 140 265 325 595 412 413 473 506 Bilateral 94 857 3,760 8,655 10,671 9,649 8,617 9,786 11,500 14,898 Concessional 65 468 2,065 6,554 7,994 7,022 5,755 5,181 7,018 11,853 Private creditors 182 2,940 15,734 15,265 20,563 18,766 19,273 19,067 19,835 17,701 Bonds 41 130 2,847 2,546 6,237 3,512 5,476 7,376 5,122 5,774 Commercial banks 54 1,317 8,190 7,142 8,765 9,055 8,623 6,547 9,727 5,190 Other private 87 1,492 4,696 5,577 5,561 6,200 5,174 5,144 4,986 6,737 Private nonguaranteed 452 2,757 3,859 27,110 32,028 31,753 34,854 39,754 44,194 37,266 Bonds 0 0 2 3,776 4,369 7,110 5,102 4,387 4,345 3,843 Commercial banks and other 452 2,757 3,857 23,334 27,659 24,643 29,753 35,367 39,848 33,422 Memo: IBRD 46 379 2,983 3,570 3,950 4,152 4,427 6,577 5,795 5,300 IDA 0 8 53 145 174 194 218 255 303 339 UNDISBURSED DEBT 1,225 23,078 44,701 66,089 91,496 57,690 47,159 45,936 39,731 .. Official creditors 1,125 17,085 33,049 61,515 86,523 51,488 44,224 42,171 36,511 .. Private creditors 100 5,992 11,652 4,574 4,973 6,203 2,935 3,765 3,220 .. Memorandum items Concessional LDOD 3,141 11,607 68,906 94,247 107,880 104,175 99,928 108,856 121,328 .. Variable rate LDOD 2,009 18,637 72,619 246,418 238,650 231,365 217,380 202,573 195,551 .. Public sector LDOD 5,071 36,308 172,520 273,959 291,380 271,360 263,893 265,421 266,106 .. Private sector LDOD 2,021 8,774 22,102 158,790 157,419 149,732 133,936 122,230 121,837 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 6.1 7.2 .. Deutsche mark 7.8 6.0 3.7 2.5 2.0 1.9 1.8 .. .. .. French franc 3.9 3.9 1.7 2.1 1.5 1.4 1.3 .. .. .. Japanese yen 6.5 20.3 29.1 25.2 28.6 28.2 25.2 26.8 27.8 .. Pound sterling 5.3 1.1 1.0 0.6 0.5 0.5 0.4 0.4 0.3 .. 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 53.8 51.2 55.9 59.7 57.3 55.8 .. Multiple currency 8.7 19.7 22.9 8.3 8.9 7.6 6.9 6.6 5.9 .. 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 7.2 6.8 4.0 4.4 2.5 2.5 .. 9 EAST ASIA AND PACIFIC (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 7. DEBT RESTRUCTURINGS Total amount rescheduled 0 0 1,478 3,905 5,222 2,468 2,770 3,900 3,032 .. Debt stock rescheduled 0 0 0 3,002 3,300 0 0 1,002 0 .. Principal rescheduled 0 0 848 496 1,477 2,268 2,733 2,441 2,515 .. Official 0 0 172 307 700 1,541 1,885 1,836 1,949 .. Private 0 0 676 189 778 727 848 604 566 .. Interest rescheduled 0 0 186 5 0 1 0 675 408 .. Official 0 0 107 5 0 1 0 551 342 .. Private 0 0 80 0 0 0 0 124 66 .. Debt forgiven 0 41 0 6 0 5 0 1 2 .. Memo: interest forgiven 0 0 0 0 0 1,631 77 0 0 .. Debt stock reduction 0 0 1,803 0 1,003 8,759 0 0 0 .. of which debt buyback 0 0 721 0 859 0 0 0 0 .. 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks 4,168 12,622 30,302 6,869 5,418 -37,911 1,278 -3,736 27,289 .. Net flows on debt 966 11,905 18,636 -32,462 -12,174 -16,191 -9,115 -13,208 1,722 17,229 Net change in interest arrears 7 0 520 226 3,701 -473 1,028 955 1,134 .. Interest capitalized 0 0 186 5 0 1 0 675 408 .. Debt forgiveness or reduction 0 -41 -1,082 -6 -144 -8,763 0 -1 -2 .. Cross-currency valuation 0 311 10,348 9,958 6,491 -13,905 -13,042 13,164 16,085 .. Residual 3,195 447 1,693 29,147 7,544 1,420 22,408 -5,320 7,942 .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.5 9.1 6.5 5.0 5.0 5.7 4.6 5.0 4.1 .. Maturity (years) 25.6 16.6 19.5 17.2 17.4 16.2 14.9 15.7 13.4 .. Grace period (years) 6.7 5.1 5.4 4.8 6.1 5.2 5.1 6.9 6.1 .. Grant element (%) 40.5 10.1 24.3 30.0 30.9 25.2 31.2 30.2 31.4 .. Official creditors Interest (%) 4.0 5.6 4.9 4.4 3.7 3.8 3.4 2.7 2.0 .. Maturity (years) 28.8 23.6 24.6 21.4 22.4 27.1 21.9 25.7 23.9 .. Grace period (years) 7.3 7.1 7.1 6.0 6.1 6.4 5.4 6.6 6.3 .. Grant element (%) 46.5 32.6 38.7 37.9 43.7 46.9 42.7 52.8 56.4 .. Private creditors Interest (%) 6.9 12.5 8.3 6.3 6.6 6.9 5.6 6.3 5.1 .. Maturity (years) 10.6 9.8 13.9 9.4 11.4 9.9 8.6 9.8 8.1 .. Grace period (years) 4.1 3.1 3.5 2.6 6.1 4.5 4.9 7.1 6.0 .. Grant element (%) 12.6 -12.1 8.1 15.2 15.8 12.4 21.0 16.8 18.6 .. Memorandum items Commitments 1,025 14,536 23,181 30,551 37,180 26,664 24,673 21,246 15,932 .. Official creditors 843 7,204 12,256 19,969 20,139 9,872 11,580 7,910 5,395 .. Private creditors 182 7,332 10,924 10,582 17,041 16,792 13,092 13,336 10,537 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 100.0 2004 2004 90.0 80.0 2003 2003 70.0 2002 2002 60.0 2001 2001 50.0 2000 2000 40.0 30.0 1999 1999 20.0 1998 1998 10.0 1997 1997 0.0 1997 1998 1999 2000 2001 2002 2003 2004 -20.0 0.0 20.0 40.0 60.0 80.0 100.0 -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 2/16/05 12:12 PM EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5,028 75,598 217,224 490,311 503,452 510,796 507,784 560,176 675,998 728,473 Long-term debt (LDOD) 3,965 56,405 176,378 387,171 399,888 402,128 397,984 437,776 505,912 530,947 Public and publicly guaranteed 3,069 44,865 171,457 293,548 292,662 283,012 265,421 275,558 299,311 308,398 Private nonguaranteed 896 11,540 4,921 93,623 107,226 119,115 132,563 162,217 206,601 222,549 Use of IMF credit 74 2,143 1,305 27,661 23,862 21,950 27,156 34,245 35,315 31,921 Short-term debt .. 17,051 39,541 75,480 79,703 86,718 82,644 88,155 134,771 165,605 of which interest arrears on LDOD .. 311 13,041 7,739 10,352 9,047 10,332 6,073 5,969 .. Official creditors .. 13 6,573 5,212 6,485 7,377 8,839 4,496 3,798 .. Private creditors .. 298 6,468 2,527 3,868 1,670 1,493 1,578 2,172 .. Memo: principal arrears on LDOD .. 56 6,324 13,239 14,007 14,674 13,731 8,246 8,055 .. Official creditors .. 21 4,584 8,441 10,766 11,046 10,733 5,461 4,964 .. Private creditors .. 35 1,740 4,798 3,240 3,628 2,998 2,785 3,091 .. Memo: export credits .. 0 66,598 61,055 57,044 53,583 56,023 60,017 65,540 .. TOTAL DEBT FLOWS Disbursements 1,082 21,285 29,137 73,490 66,061 64,887 78,241 101,396 119,037 111,948 Long-term debt 1,007 20,047 28,389 66,084 63,254 60,518 66,091 87,915 116,548 110,093 IMF purchases 75 1,238 747 7,407 2,807 4,369 12,150 13,481 2,489 1,855 Principal repayments 584 7,186 19,741 36,190 48,773 53,278 70,138 78,317 94,358 84,746 Long-term debt 512 6,857 19,009 34,124 42,877 48,200 64,050 69,472 89,875 78,477 IMF repurchases 72 329 732 2,066 5,896 5,079 6,089 8,845 4,483 6,269 Net flows on debt 497 13,519 1,699 42,967 18,897 19,928 2,744 28,018 56,880 56,036 of which short-term debt .. -580 -7,697 5,666 1,610 8,320 -5,359 4,940 32,201 28,834 Interest payments (INT) .. 5,390 12,146 20,628 20,851 23,678 25,393 23,250 25,978 31,109 Long-term debt 148 3,409 9,548 16,759 16,455 18,483 21,479 19,722 21,945 25,646 IMF charges 0 103 128 1,058 1,013 1,080 1,170 1,164 803 859 Short-term debt .. 1,879 2,470 2,810 3,382 4,115 2,744 2,364 3,230 4,604 Net transfers on debt .. 8,129 -10,447 22,340 -1,953 -3,750 -22,649 4,768 30,902 24,928 Total debt service paid (TDS) .. 12,576 31,886 56,817 69,624 76,956 95,531 101,567 120,336 115,855 Long-term debt 660 10,266 28,557 50,883 59,332 66,683 85,529 89,194 111,820 104,123 IMF repurchases and charges 72 432 860 3,124 6,910 6,159 7,259 10,009 5,286 7,129 Short-term debt (interest only) .. 1,879 2,470 2,810 3,382 4,115 2,744 2,364 3,230 4,604 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 606 13,490 11,716 67,461 58,986 51,328 40,947 61,949 71,526 81,772 Net flow of long-term debt (ex. IMF) 495 13,190 9,380 31,960 20,377 12,318 2,041 18,442 26,673 31,616 Foreign direct investment (net) 58 29 1,084 26,150 28,432 29,154 31,357 35,008 35,614 37,600 Portfolio equity flows 0 0 89 3,967 1,955 1,262 448 -98 589 3,590 Grants (excluding technical coop.) 53 272 1,020 5,384 8,222 8,595 7,101 8,596 8,650 8,966 Memo: technical coop. grants 47 155 421 4,303 4,418 3,056 3,544 4,847 4,416 4,577 official net resource flows 344 3,612 4,226 7,546 10,743 9,298 3,200 6,529 4,416 7,163 private net resource flows 262 9,879 7,490 59,915 48,243 42,030 37,747 55,420 67,110 74,609 NET TRANSFERS 458 10,050 1,950 45,449 36,981 25,275 9,600 28,561 21,348 25,926 Interest on long-term debt 148 3,409 9,548 16,759 16,455 18,483 21,479 19,722 21,945 25,646 Profit remittances on FDI 0 31 218 5,253 5,551 7,570 9,868 13,665 28,233 30,200 Memo: official net transfers 270 2,838 1,998 2,822 7,083 5,301 -2,839 1,673 -758 1,819 private net transfers 188 7,213 -47 42,627 29,897 19,974 12,439 26,888 22,106 24,108 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 18,071 113,382 1,096,995 988,272 864,314 939,062 981,096 1,119,018 1,369,300 1,631,650 Exports of goods, serv. & inc. (XGS) 0 43,932 71,139 368,349 346,120 417,734 439,277 478,238 608,205 765,797 Worker remit. & comp. of employees 0 2,071 3,246 12,830 10,723 10,994 11,443 11,501 12,880 12,933 Imports of goods & services (MGS) 0 53,091 80,064 402,689 357,519 409,761 431,998 485,101 624,034 800,237 International reserves (RES) 440 6,384 14,859 105,976 112,778 128,235 140,140 185,690 249,234 306,096 Current account balance 0 -8,275 -4,262 -27,661 -4,014 15,671 16,898 3,171 -4,420 -56,810 4. DEBT INDICATORS EDT / XGS (%) .. 172.1 305.4 133.1 145.5 122.3 115.6 117.1 111.1 95.1 EDT / GNI (%) .. 66.7 19.8 49.6 58.2 54.4 51.8 50.1 49.4 44.6 TDS / XGS (%) .. 28.6 44.8 15.4 20.1 18.4 21.7 21.2 19.8 15.1 INT / XGS (%) .. 12.3 17.1 5.6 6.0 5.7 5.8 4.9 4.3 4.1 INT / GNI (%) .. 4.8 1.1 2.1 2.4 2.5 2.6 2.1 1.9 1.9 RES / EDT (%) .. 8.4 6.8 21.6 22.4 25.1 27.6 33.1 36.9 42.0 RES / MGS (months) .. 1.4 2.2 3.2 3.8 3.8 3.9 4.6 4.8 4.6 Short-term / EDT (%) .. 22.6 18.2 15.4 15.8 17.0 16.3 15.7 19.9 22.7 Concessional / EDT (%) .. 9.2 5.8 4.8 5.1 4.8 4.5 4.9 4.7 4.3 Multilateral / EDT (%) .. 5.8 7.6 6.7 6.8 6.9 7.1 7.4 6.7 6.5 11 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 3,965 56,405 176,378 387,171 399,888 402,128 397,984 437,776 505,912 530,947 Public and publicly guaranteed 3,069 44,865 171,457 293,548 292,662 283,012 265,421 275,558 299,311 308,398 Official creditors 2,647 18,580 63,676 144,784 147,539 144,833 132,076 131,157 140,835 137,682 Multilateral 634 4,363 16,604 32,814 34,260 35,102 36,125 41,386 45,093 47,433 Concessional 113 242 920 2,854 3,438 3,691 3,854 4,928 6,190 6,740 Bilateral 2,013 14,217 47,072 111,970 113,279 109,731 95,951 89,771 95,742 90,249 Concessional 1,739 6,744 11,730 20,650 22,183 20,587 19,013 22,532 25,898 24,444 Private creditors 422 26,284 107,782 148,763 145,123 138,180 133,345 144,402 158,476 170,716 Bonds 41 200 11,889 65,432 70,241 93,724 92,572 99,993 110,473 123,379 Commercial banks 10 16,733 65,890 64,322 59,655 32,463 29,385 35,463 39,846 41,037 Other private 371 9,352 30,002 19,009 15,227 11,992 11,388 8,946 8,157 6,300 Private nonguaranteed 896 11,540 4,921 93,623 107,226 119,115 132,563 162,217 206,601 222,549 Bonds 0 0 16 5,714 7,262 7,698 7,982 11,351 18,544 34,948 Commercial banks and other 896 11,540 4,905 87,909 99,965 111,417 124,580 150,866 188,057 187,601 Memo: IBRD 297 3,323 10,271 20,953 21,753 22,788 23,972 26,484 26,888 27,406 IDA 83 189 157 1,991 2,441 2,667 2,891 3,730 4,589 5,023 DISBURSEMENTS 1,007 20,047 28,389 66,084 63,254 60,518 66,091 87,915 116,548 110,093 Public and publicly guaranteed 540 16,749 26,628 39,786 27,845 26,144 18,645 20,452 26,776 41,656 Official creditors 480 5,041 6,349 9,726 7,676 8,104 7,068 6,134 6,410 10,400 Multilateral 163 1,023 2,298 6,134 5,145 5,029 5,181 4,180 4,147 6,571 Concessional 7 10 14 576 712 469 459 781 798 772 Bilateral 317 4,018 4,052 3,592 2,531 3,075 1,888 1,955 2,263 3,829 Concessional 271 1,925 940 1,044 1,416 1,355 806 933 1,587 1,521 Private creditors 61 11,707 20,279 30,060 20,169 18,040 11,576 14,317 20,366 31,256 Bonds 0 80 1,959 20,188 11,307 10,709 7,364 8,143 14,607 23,188 Commercial banks 0 5,069 4,084 6,767 6,274 6,301 3,377 5,534 5,105 7,639 Other private 61 6,559 14,236 3,105 2,589 1,030 835 640 654 429 Private nonguaranteed 466 3,298 1,761 26,298 35,409 34,374 47,446 67,463 89,772 68,437 Bonds 0 0 0 2,146 1,890 1,513 1,115 4,113 8,028 17,857 Commercial banks and other 466 3,298 1,761 24,152 33,519 32,861 46,331 63,350 81,744 50,580 Memo: IBRD 55 833 1,218 3,354 2,635 3,102 3,182 2,171 1,445 2,747 IDA 7 0 0 450 495 351 332 603 494 585 PRINCIPAL REPAYMENTS 512 6,857 19,009 34,124 42,877 48,200 64,050 69,472 89,875 78,477 Public and publicly guaranteed 304 4,816 17,512 23,278 17,745 20,232 26,185 21,759 30,693 28,750 Official creditors 189 1,701 3,143 7,564 5,155 7,400 10,969 8,201 10,643 12,203 Multilateral 81 154 1,455 3,756 2,106 2,819 3,177 2,913 3,967 4,390 Concessional 22 2 23 131 71 32 197 57 44 35 Bilateral 108 1,547 1,688 3,808 3,048 4,581 7,791 5,288 6,676 7,813 Concessional 47 532 434 824 1,032 2,272 1,403 1,408 1,727 1,984 Private creditors 116 3,114 14,368 15,714 12,590 12,832 15,217 13,557 20,050 16,547 Bonds 2 15 66 6,309 4,811 5,966 6,171 7,424 11,742 9,452 Commercial banks 2 1,366 8,751 5,351 4,440 4,226 5,998 3,937 5,630 4,920 Other private 112 1,733 5,552 4,054 3,339 2,640 3,047 2,197 2,678 2,175 Private nonguaranteed 208 2,041 1,497 10,846 25,132 27,968 37,864 47,714 59,181 49,727 Bonds 0 0 0 0 164 958 713 845 1,301 1,395 Commercial banks and other 208 2,041 1,497 10,846 24,968 27,009 37,151 46,869 57,880 48,332 Memo: IBRD 13 133 1,133 2,275 1,258 1,357 1,407 1,804 2,678 2,749 IDA 0 1 4 6 6 6 6 6 8 12 NET FLOWS ON DEBT 495 13,190 9,380 31,960 20,377 12,318 2,041 18,442 26,673 31,616 Public and publicly guaranteed 236 11,933 9,117 16,508 10,100 5,912 -7,541 -1,307 -3,918 12,906 Official creditors 291 3,340 3,206 2,162 2,521 703 -3,901 -2,067 -4,234 -1,803 Multilateral 82 869 843 2,379 3,038 2,209 2,003 1,266 180 2,181 Concessional -15 9 -10 444 641 437 261 724 753 737 Bilateral 209 2,471 2,363 -217 -518 -1,506 -5,904 -3,333 -4,414 -3,984 Concessional 224 1,393 507 220 384 -918 -598 -475 -140 -463 Private creditors -55 8,593 5,911 14,346 7,579 5,209 -3,640 760 316 14,709 Bonds -2 65 1,893 13,879 6,495 4,743 1,192 719 2,865 13,736 Commercial banks -2 3,703 -4,667 1,417 1,834 2,076 -2,621 1,598 -525 2,720 Other private -51 4,825 8,684 -950 -751 -1,610 -2,212 -1,557 -2,024 -1,746 Private nonguaranteed 259 1,257 264 15,452 10,277 6,406 9,582 19,749 30,591 18,710 Bonds 0 0 0 2,146 1,726 555 402 3,268 6,727 16,462 Commercial banks and other 259 1,257 264 13,306 8,551 5,851 9,180 16,481 23,864 2,248 Memo: IBRD 42 700 85 1,079 1,378 1,745 1,775 366 -1,233 -2 IDA 7 -1 -4 444 489 345 326 597 486 573 12 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 INTEREST PAYMENTS (LINT) 148 3,409 9,548 16,759 16,455 18,483 21,479 19,722 21,945 25,646 Public and publicly guaranteed 115 2,560 9,107 12,363 11,533 12,626 15,407 13,969 14,809 15,725 Official creditors 74 774 2,228 4,724 3,659 3,997 6,039 4,856 5,174 5,344 Multilateral 24 298 1,199 1,790 1,845 1,901 1,894 1,586 1,549 1,344 Concessional 2 4 39 37 37 43 46 50 60 73 Bilateral 50 476 1,029 2,933 1,815 2,097 4,145 3,270 3,625 4,000 Concessional 35 157 246 689 649 632 577 610 652 611 Private creditors 40 1,787 6,878 7,639 7,874 8,629 9,368 9,113 9,635 10,381 Bonds 1 36 737 3,759 4,930 5,996 6,607 6,942 7,460 8,306 Commercial banks 1 1,171 4,675 2,994 2,023 1,984 2,036 1,689 1,777 1,821 Other private 38 580 1,466 887 920 649 725 482 398 255 Private nonguaranteed 34 849 441 4,396 4,922 5,857 6,072 5,753 7,136 9,920 Bonds 0 0 1 251 445 570 608 829 1,890 2,250 Commercial banks and other 34 849 440 4,145 4,476 5,287 5,464 4,924 5,246 7,671 Memo: IBRD 16 257 809 1,135 1,210 1,297 1,291 1,097 986 774 IDA 1 1 1 11 15 19 20 23 30 38 NET TRANSFERS ON DEBT 346 9,781 -168 15,201 3,922 -6,165 -19,438 -1,280 4,728 5,970 Public and publicly guaranteed 121 9,372 10 4,145 -1,434 -6,714 -22,948 -15,275 -18,727 -2,819 Official creditors 217 2,566 978 -2,562 -1,139 -3,294 -9,940 -6,923 -9,408 -7,147 Multilateral 57 571 -356 588 1,194 309 109 -319 -1,369 837 Concessional -17 5 -48 408 604 393 215 674 693 664 Bilateral 159 1,995 1,334 -3,150 -2,332 -3,603 -10,049 -6,603 -8,039 -7,984 Concessional 189 1,236 261 -469 -265 -1,550 -1,175 -1,085 -792 -1,074 Private creditors -95 6,806 -968 6,707 -295 -3,420 -13,008 -8,353 -9,319 4,328 Bonds -3 30 1,156 10,120 1,565 -1,252 -5,415 -6,222 -4,595 5,430 Commercial banks -2 2,532 -9,341 -1,577 -189 92 -4,657 -91 -2,302 899 Other private -89 4,245 7,218 -1,836 -1,671 -2,259 -2,937 -2,039 -2,422 -2,001 Private nonguaranteed 225 408 -178 11,056 5,355 549 3,510 13,996 23,455 8,789 Bonds 0 0 -1 1,894 1,281 -15 -206 2,439 4,837 14,212 Commercial banks and other 225 408 -176 9,162 4,075 564 3,716 11,557 18,618 -5,423 Memo: IBRD 26 443 -724 -56 167 449 484 -731 -2,219 -775 IDA 7 -2 -5 432 474 327 306 574 457 535 DEBT SERVICE (LTDS) 660 10,266 28,557 50,883 59,332 66,683 85,529 89,194 111,820 104,123 Public and publicly guaranteed 419 7,376 26,618 35,641 29,278 32,858 41,593 35,727 45,503 44,475 Official creditors 263 2,475 5,372 12,288 8,814 11,398 17,008 13,057 15,818 17,547 Multilateral 105 452 2,654 5,546 3,951 4,720 5,072 4,499 5,516 5,734 Concessional 25 5 62 168 108 76 244 107 105 109 Bilateral 158 2,023 2,718 6,742 4,863 6,678 11,936 8,558 10,302 11,813 Concessional 82 689 680 1,513 1,681 2,904 1,981 2,018 2,379 2,595 Private creditors 156 4,901 21,247 23,353 20,464 21,461 24,585 22,670 29,685 26,928 Bonds 3 50 803 10,068 9,742 11,962 12,779 14,365 19,202 17,758 Commercial banks 2 2,537 13,426 8,344 6,463 6,210 8,034 5,625 7,407 6,740 Other private 150 2,314 7,018 4,941 4,259 3,289 3,772 2,679 3,077 2,430 Private nonguaranteed 241 2,890 1,939 15,242 30,054 33,825 43,936 53,467 66,317 59,647 Bonds 0 0 1 251 609 1,528 1,321 1,674 3,191 3,645 Commercial banks and other 241 2,890 1,937 14,991 29,445 32,297 42,615 51,793 63,126 56,002 Memo: IBRD 29 389 1,943 3,410 2,468 2,653 2,698 2,901 3,664 3,522 IDA 1 3 5 17 21 24 26 30 38 50 UNDISBURSED DEBT 1,935 13,750 17,065 34,266 36,383 30,671 27,913 28,752 32,309 .. Official creditors 1,613 6,155 9,220 23,743 26,655 21,185 20,311 21,522 24,768 .. Private creditors 322 7,596 7,846 10,522 9,728 9,486 7,602 7,231 7,541 .. Memorandum items Concessional LDOD 1,851 6,986 12,651 23,504 25,621 24,278 22,867 27,461 32,088 .. Variable rate LDOD 952 25,866 88,727 233,740 234,630 214,754 217,914 251,665 300,594 .. Public sector LDOD 2,842 44,026 170,441 290,625 289,911 280,749 263,398 272,944 296,454 .. Private sector LDOD 1,122 12,379 5,937 96,546 109,977 121,378 134,586 164,831 209,458 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 31.2 35.0 .. Deutsche mark 16.0 11.0 24.9 21.8 17.6 15.2 13.5 .. .. .. French franc 2.7 9.3 5.0 2.5 2.1 2.0 1.5 .. .. .. Japanese yen 0.1 2.4 7.6 6.3 6.4 5.9 4.9 4.8 4.5 .. Pound sterling 5.0 2.6 1.8 0.7 0.7 0.6 0.6 0.8 0.7 .. Swiss franc 1.4 4.5 6.5 0.6 0.4 0.3 0.3 0.3 0.3 .. U.S.dollars 44.7 41.8 32.4 55.2 57.7 58.8 59.5 56.6 54.0 .. Multiple currency 15.2 21.5 10.6 7.3 7.2 7.1 7.0 5.6 4.8 .. 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 5.6 8.0 10.0 12.8 0.7 0.8 .. 13 EUROPE AND CENTRAL ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 7. DEBT RESTRUCTURINGS Total amount rescheduled 0 1,757 3,559 5,641 17,576 29,129 3,296 8,500 2,622 .. Debt stock rescheduled 0 0 0 224 2,080 19,307 266 976 4 .. Principal rescheduled 0 20 1,366 3,966 8,154 3,624 2,833 3,749 2,415 .. Official 0 17 746 2,875 6,000 2,945 2,406 3,591 2,409 .. Private 0 3 620 1,091 2,154 679 426 158 6 .. Interest rescheduled 0 8 2,163 530 5,665 4,388 198 1,394 12 .. Official 0 7 1,998 373 5,154 2,220 162 1,391 12 .. Private 0 1 165 158 511 2,168 36 3 0 .. Debt forgiven 0 0 232 41 121 15 37 869 7 .. Memo: interest forgiven 0 0 61 0 0 0 3 85 81 .. Debt stock reduction 0 0 1,779 748 154 12,545 1,391 294 46 .. of which debt buyback 0 0 882 748 30 943 315 0 0 .. 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks 490 25,389 19,679 99,105 13,141 7,343 -3,011 52,392 115,822 .. Net flows on debt 497 13,519 1,699 42,967 18,897 19,928 2,744 28,018 56,880 56,036 Net change in interest arrears 0 255 5,213 2,944 2,613 -1,305 1,285 -4,259 -104 .. Interest capitalized 0 8 2,163 530 5,665 4,388 198 1,394 12 .. Debt forgiveness or reduction 0 0 -1,129 -41 -245 -11,617 -1,113 -1,163 -53 .. Cross-currency valuation 0 -852 10,086 8,626 -10,801 -9,966 -7,404 18,468 24,425 .. Residual -7 12,459 1,647 44,078 -2,989 5,915 1,279 9,933 35,499 .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.2 10.2 8.4 7.4 6.4 7.4 5.7 5.3 4.9 .. Maturity (years) 19.2 12.5 11.9 12.0 11.2 11.7 12.1 59.0 10.7 .. Grace period (years) 6.8 4.4 6.1 7.6 4.4 6.6 5.7 5.7 5.4 .. Grant element (%) 37.3 2.1 8.7 11.2 18.6 11.8 24.3 24.9 24.8 .. Official creditors Interest (%) 3.8 7.5 7.8 5.1 4.5 5.9 4.3 3.0 4.3 .. Maturity (years) 20.1 16.7 13.7 16.9 17.3 17.6 17.9 18.7 16.7 .. Grace period (years) 7.3 5.3 5.9 5.3 4.8 5.5 5.2 5.8 3.6 .. Grant element (%) 40.3 19.6 12.4 28.9 33.4 26.4 35.7 44.7 33.4 .. Private creditors Interest (%) 6.3 11.2 8.6 8.2 7.5 8.0 6.9 6.6 5.2 .. Maturity (years) 13.4 10.9 11.1 10.2 7.5 9.2 7.5 80.2 7.9 .. Grace period (years) 3.6 4.1 6.2 8.5 4.2 7.0 6.0 5.7 6.3 .. Grant element (%) 18.2 -4.4 7.2 4.7 9.7 5.9 15.2 14.5 20.9 .. Memorandum items Commitments 759 12,696 29,685 41,319 29,289 26,009 19,584 20,204 30,392 .. Official creditors 654 3,415 8,771 11,057 10,991 7,551 8,677 6,980 9,457 .. Private creditors 105 9,281 20,914 30,262 18,298 18,458 10,907 13,223 20,935 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 90.0 2004 2004 80.0 2003 2003 70.0 2002 2002 60.0 50.0 2001 2001 40.0 2000 2000 30.0 1999 1999 20.0 1998 1998 10.0 1997 1997 0.0 1997 1998 1999 2000 2001 2002 2003 2004 0.0 10.0 20.0 30.0 40.0 50.0 -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 2/16/05 12:13 PM LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 32,561 242,835 444,900 752,228 771,831 755,142 749,176 746,225 779,632 773,457 Long-term debt (LDOD) 27,645 172,967 352,971 611,265 642,001 638,795 631,777 628,984 648,564 637,395 Public and publicly guaranteed 15,772 130,520 327,942 391,113 399,620 397,348 393,301 403,221 420,708 441,753 Private nonguaranteed 11,873 42,447 25,029 220,152 242,380 241,447 238,476 225,763 227,856 195,642 Use of IMF credit 128 1,413 18,298 21,969 20,500 8,846 23,901 38,302 47,758 42,570 Short-term debt .. 68,455 73,631 118,994 109,330 107,501 93,499 78,939 83,310 93,492 of which interest arrears on LDOD .. 60 25,560 3,112 1,753 1,480 1,037 6,479 13,646 .. Official creditors .. 16 3,858 1,308 1,324 1,176 784 888 1,127 .. Private creditors .. 44 21,702 1,804 429 304 254 5,591 12,519 .. Memo: principal arrears on LDOD .. 643 24,447 5,637 5,792 4,132 1,992 10,435 19,313 .. Official creditors .. 78 7,374 2,759 2,960 2,089 1,248 1,663 2,476 .. Private creditors .. 566 17,072 2,878 2,832 2,042 745 8,773 16,837 .. Memo: export credits .. 0 70,087 31,315 29,470 27,486 24,741 26,003 26,742 .. TOTAL DEBT FLOWS Disbursements 6,576 44,392 32,573 145,844 128,810 117,752 121,317 97,110 116,018 83,774 Long-term debt 6,452 43,978 27,737 140,808 121,043 114,242 104,106 79,467 91,890 79,806 IMF purchases 124 415 4,836 5,036 7,767 3,510 17,210 17,644 24,129 3,968 Principal repayments 3,751 21,666 22,109 80,225 108,431 124,560 102,372 95,659 109,957 84,346 Long-term debt 3,453 21,174 18,454 77,698 99,771 110,323 100,749 89,894 91,397 75,755 IMF repurchases 298 492 3,655 2,527 8,660 14,237 1,623 5,765 18,559 8,591 Net flows on debt 2,825 45,710 18,116 37,310 12,073 -8,363 5,385 -8,550 3,266 2,496 of which short-term debt .. 22,983 7,653 -28,308 -8,306 -1,556 -13,560 -10,001 -2,796 3,068 Interest payments (INT) .. 24,350 21,974 46,311 51,919 55,292 47,380 39,562 39,610 36,742 Long-term debt 1,396 17,361 18,129 38,997 44,726 47,947 42,204 35,897 36,062 33,048 IMF charges 0 95 1,459 828 1,040 777 608 1,195 1,323 1,370 Short-term debt .. 6,895 2,386 6,485 6,153 6,568 4,567 2,471 2,226 2,324 Net transfers on debt .. 21,359 -3,857 -9,000 -39,847 -63,656 -41,994 -48,112 -36,344 -34,246 Total debt service paid (TDS) .. 46,017 44,083 126,535 160,350 179,852 149,751 135,221 149,567 121,087 Long-term debt 4,849 38,534 36,583 116,695 144,497 158,270 142,953 125,791 127,459 108,803 IMF repurchases and charges 298 587 5,114 3,355 9,700 15,014 2,231 6,960 19,882 9,960 Short-term debt (interest only) .. 6,895 2,386 6,485 6,153 6,568 4,567 2,471 2,226 2,324 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 4,315 29,591 22,217 138,134 108,716 84,742 79,288 39,513 43,455 48,110 Net flow of long-term debt (ex. IMF) 2,999 22,804 9,282 63,110 21,272 3,920 3,358 -10,428 492 4,050 Foreign direct investment (net) 1,182 6,361 8,192 74,017 88,172 78,917 70,211 45,727 36,533 42,400 Portfolio equity flows 0 0 2,464 -2,170 -3,624 -566 2,509 1,444 3,376 -1,535 Grants (excluding technical coop.) 134 426 2,279 3,177 2,896 2,471 3,211 2,770 3,054 3,195 Memo: technical coop. grants 258 757 1,954 2,260 2,471 2,933 3,141 3,109 3,811 3,986 official net resource flows 964 4,724 9,022 11,576 5,375 2,070 8,031 3,868 2,369 -2,469 private net resource flows 3,351 24,867 13,196 126,559 103,341 82,672 71,257 35,646 41,087 50,579 NET TRANSFERS 2,253 7,011 -3,441 77,684 46,148 13,938 15,767 -15,537 -16,120 -6,038 Interest on long-term debt 1,396 17,361 18,129 38,997 44,726 47,947 42,204 35,897 36,062 33,048 Profit remittances on FDI 666 5,220 7,530 21,453 17,842 22,857 21,317 19,153 23,513 21,100 Memo: official net transfers 662 2,948 3,524 4,310 -3,352 -6,512 22 -3,273 -4,345 -7,783 private net transfers 1,591 4,062 -6,965 73,374 49,499 20,450 15,745 -12,264 -11,774 1,745 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 159,334 711,315 1,054,884 1,947,293 1,725,222 1,913,937 1,847,578 1,634,550 1,666,221 1,782,502 Exports of goods, serv. & inc. (XGS) 4,243 126,588 185,104 375,734 392,201 466,159 448,269 447,223 487,579 579,172 Worker remit. & comp. of employees 55 1,921 5,761 15,946 17,742 20,185 24,153 28,079 34,390 36,920 Imports of goods & services (MGS) 4,733 157,248 191,462 469,537 452,528 517,169 506,442 467,186 484,391 569,925 International reserves (RES) 5,444 57,152 58,687 166,166 158,682 160,431 162,070 164,811 200,945 214,306 Current account balance -541 -29,866 -1,088 -89,656 -55,749 -47,211 -53,733 -15,759 7,829 18,202 4. DEBT INDICATORS EDT / XGS (%) .. 191.8 240.4 200.2 196.8 162.0 167.1 166.9 159.9 133.5 EDT / GNI (%) .. 34.1 42.2 38.6 44.7 39.5 40.5 45.7 46.8 43.4 TDS / XGS (%) .. 36.4 23.8 33.7 40.9 38.6 33.4 30.2 30.7 20.9 INT / XGS (%) .. 19.2 11.9 12.3 13.2 11.9 10.6 8.8 8.1 6.3 INT / GNI (%) .. 3.4 2.1 2.4 3.0 2.9 2.6 2.4 2.4 2.1 RES / EDT (%) .. 23.5 13.2 22.1 20.6 21.2 21.6 22.1 25.8 27.7 RES / MGS (months) .. 4.4 3.7 4.2 4.2 3.7 3.8 4.2 5.0 4.5 Short-term / EDT (%) .. 28.2 16.5 15.8 14.2 14.2 12.5 10.6 10.7 12.1 Concessional / EDT (%) .. 4.1 5.4 4.4 4.4 4.1 4.0 4.2 4.5 4.6 Multilateral / EDT (%) .. 5.8 13.5 11.1 11.9 12.3 13.1 13.7 13.9 14.0 15 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 27,645 172,967 352,971 611,265 642,001 638,795 631,777 628,984 648,564 637,395 Public and publicly guaranteed 15,772 130,520 327,942 391,113 399,620 397,348 393,301 403,221 420,708 441,753 Official creditors 8,125 31,058 121,492 139,050 142,734 141,299 138,958 144,807 149,116 146,655 Multilateral 2,950 14,129 59,980 83,818 91,614 93,206 97,931 102,493 108,062 108,203 Concessional 305 2,353 5,892 9,762 10,449 10,569 10,890 11,727 13,797 15,306 Bilateral 5,176 16,928 61,513 55,232 51,120 48,092 41,026 42,314 41,054 38,452 Concessional 3,922 7,674 18,117 23,404 23,849 20,580 18,846 19,888 20,900 20,637 Private creditors 7,647 99,463 206,450 252,063 256,886 256,050 254,343 258,415 271,592 295,098 Bonds 1,240 9,599 75,976 204,102 215,351 214,730 212,018 220,632 238,074 255,183 Commercial banks 3,071 76,699 101,797 40,130 32,863 33,121 35,698 32,550 29,245 35,831 Other private 3,336 13,166 28,677 7,831 8,672 8,198 6,627 5,232 4,273 4,084 Private nonguaranteed 11,873 42,447 25,029 220,152 242,380 241,447 238,476 225,763 227,856 195,642 Bonds 0 0 171 53,999 58,499 60,435 60,918 58,479 61,982 61,480 Commercial banks and other 11,873 42,447 24,858 166,153 183,882 181,012 177,558 167,284 165,874 134,162 Memo: IBRD 2,067 7,706 34,760 34,519 36,097 37,532 38,223 38,091 37,847 35,920 IDA 112 427 1,117 2,989 3,369 3,387 3,516 3,991 4,614 4,927 DISBURSEMENTS 6,452 43,978 27,737 140,808 121,043 114,242 104,106 79,467 91,890 79,806 Public and publicly guaranteed 3,692 31,017 23,035 61,476 56,834 56,424 50,940 41,693 51,831 55,012 Official creditors 1,340 6,431 13,185 22,339 17,622 16,483 15,710 16,191 19,168 10,844 Multilateral 582 2,967 8,986 17,541 14,801 13,593 12,832 12,052 17,487 7,512 Concessional 76 492 451 832 1,029 695 785 820 1,586 983 Bilateral 757 3,464 4,199 4,798 2,821 2,891 2,878 4,140 1,681 3,332 Concessional 434 718 1,946 995 1,304 1,617 1,109 1,567 1,227 1,786 Private creditors 2,352 24,586 9,850 39,137 39,212 39,940 35,230 25,501 32,663 44,168 Bonds 132 1,219 1,938 24,309 29,947 32,563 26,194 16,697 26,144 30,190 Commercial banks 1,229 19,937 4,803 13,965 6,487 6,585 8,310 8,203 5,854 13,078 Other private 991 3,430 3,108 863 2,777 793 726 601 665 900 Private nonguaranteed 2,760 12,960 4,702 79,332 64,209 57,819 53,167 37,774 40,059 24,794 Bonds 0 0 171 15,985 10,932 8,312 6,832 4,558 9,734 9,645 Commercial banks and other 2,760 12,960 4,531 63,346 53,277 49,507 46,335 33,216 30,325 15,149 Memo: IBRD 354 1,586 6,139 5,769 5,485 5,609 4,857 4,390 6,376 3,324 IDA 9 60 119 309 499 202 274 250 323 345 PRINCIPAL REPAYMENTS 3,453 21,174 18,454 77,698 99,771 110,323 100,749 89,894 91,397 75,755 Public and publicly guaranteed 1,682 14,213 16,238 39,389 44,228 52,274 47,974 44,000 48,950 35,909 Official creditors 509 2,133 6,442 13,941 15,143 16,885 10,890 15,093 19,854 16,508 Multilateral 171 712 4,751 6,170 7,783 9,820 6,374 9,723 15,080 10,959 Concessional 7 37 148 269 257 264 256 242 317 401 Bilateral 339 1,421 1,691 7,771 7,360 7,065 4,516 5,371 4,774 5,549 Concessional 119 369 184 1,343 1,488 1,275 1,266 1,491 1,464 1,697 Private creditors 1,173 12,080 9,796 25,449 29,085 35,390 37,084 28,906 29,096 19,402 Bonds 77 401 2,008 15,331 13,666 26,718 24,348 13,800 17,640 11,990 Commercial banks 618 9,331 5,214 7,597 13,499 7,081 10,374 12,874 9,859 6,345 Other private 478 2,348 2,575 2,521 1,920 1,591 2,362 2,232 1,597 1,066 Private nonguaranteed 1,771 6,960 2,216 38,309 55,543 58,048 52,775 45,895 42,448 39,846 Bonds 0 0 0 7,694 7,899 8,849 5,865 7,670 5,370 10,148 Commercial banks and other 1,771 6,960 2,216 30,614 47,644 49,200 46,909 38,224 37,078 29,698 Memo: IBRD 105 395 3,310 3,641 3,833 3,811 3,843 4,921 7,119 5,485 IDA 0 2 9 18 15 18 12 20 22 47 NET FLOWS ON DEBT 2,999 22,804 9,282 63,110 21,272 3,920 3,358 -10,428 492 4,050 Public and publicly guaranteed 2,010 16,804 6,796 22,087 12,606 4,150 2,965 -2,307 2,881 19,102 Official creditors 830 4,298 6,743 8,399 2,479 -401 4,820 1,098 -685 -5,664 Multilateral 412 2,255 4,235 11,371 7,018 3,773 6,458 2,329 2,407 -3,447 Concessional 69 455 302 563 772 432 530 578 1,270 581 Bilateral 419 2,043 2,507 -2,973 -4,539 -4,174 -1,638 -1,231 -3,093 -2,217 Concessional 316 349 1,763 -348 -185 341 -158 76 -238 89 Private creditors 1,180 12,506 54 13,688 10,127 4,551 -1,855 -3,405 3,567 24,766 Bonds 55 819 -70 8,978 16,281 5,845 1,847 2,897 8,504 18,199 Commercial banks 612 10,605 -410 6,368 -7,011 -496 -2,065 -4,671 -4,005 6,732 Other private 513 1,082 534 -1,658 857 -798 -1,636 -1,631 -932 -166 Private nonguaranteed 989 6,000 2,486 41,023 8,666 -230 392 -8,121 -2,389 -15,052 Bonds 0 0 171 8,291 3,034 -537 966 -3,112 4,365 -503 Commercial banks and other 989 6,000 2,315 32,732 5,633 307 -574 -5,008 -6,753 -14,549 Memo: IBRD 249 1,192 2,829 2,127 1,652 1,798 1,014 -531 -743 -2,161 IDA 9 58 110 291 484 184 261 230 301 299 16 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 INTEREST PAYMENTS (LINT) 1,396 17,361 18,129 38,997 44,726 47,947 42,204 35,897 36,062 33,048 Public and publicly guaranteed 767 12,932 15,867 23,355 26,817 29,905 24,715 22,039 22,229 21,103 Official creditors 302 1,776 5,498 7,266 8,727 8,582 8,009 7,141 6,714 5,313 Multilateral 157 1,001 4,125 4,500 6,081 6,354 6,236 5,494 5,281 3,984 Concessional 7 49 103 168 154 165 128 122 173 199 Bilateral 145 775 1,373 2,765 2,646 2,228 1,773 1,647 1,432 1,329 Concessional 75 201 135 834 751 667 605 549 531 522 Private creditors 465 11,156 10,369 16,089 18,090 21,323 16,706 14,898 15,515 15,790 Bonds 72 727 2,398 13,269 14,973 17,250 12,402 11,313 12,200 13,900 Commercial banks 228 9,446 6,696 2,273 2,635 3,276 3,481 3,299 3,124 1,716 Other private 165 983 1,275 548 481 796 822 285 191 174 Private nonguaranteed 628 4,429 2,262 15,642 17,910 18,043 17,490 13,858 13,833 11,945 Bonds 0 0 0 4,228 4,791 5,193 5,373 4,296 4,313 4,237 Commercial banks and other 628 4,429 2,262 11,414 13,119 12,849 12,116 9,562 9,520 7,708 Memo: IBRD 114 633 2,538 2,115 2,476 2,810 2,827 2,298 1,898 1,414 IDA 1 3 8 18 15 17 12 18 21 33 NET TRANSFERS ON DEBT 1,603 5,443 -8,846 24,113 -23,454 -44,028 -38,847 -46,325 -35,569 -28,997 Public and publicly guaranteed 1,243 3,872 -9,071 -1,268 -14,211 -25,755 -21,749 -24,346 -19,348 -2,001 Official creditors 528 2,522 1,245 1,133 -6,248 -8,983 -3,189 -6,043 -7,399 -10,977 Multilateral 254 1,254 111 6,871 937 -2,581 222 -3,165 -2,874 -7,431 Concessional 62 407 199 395 618 266 402 455 1,097 383 Bilateral 274 1,268 1,134 -5,738 -7,185 -6,402 -3,411 -2,878 -4,525 -3,546 Concessional 241 148 1,628 -1,182 -936 -326 -762 -473 -769 -433 Private creditors 715 1,350 -10,316 -2,401 -7,963 -16,772 -18,560 -18,303 -11,949 8,976 Bonds -17 92 -2,468 -4,291 1,308 -11,406 -10,555 -8,417 -3,696 4,300 Commercial banks 383 1,160 -7,107 4,096 -9,647 -3,772 -5,546 -7,970 -7,130 5,016 Other private 348 99 -741 -2,206 376 -1,594 -2,458 -1,916 -1,123 -339 Private nonguaranteed 360 1,571 224 25,381 -9,243 -18,272 -17,097 -21,979 -16,221 -26,997 Bonds 0 0 171 4,063 -1,757 -5,730 -4,407 -7,409 52 -4,740 Commercial banks and other 360 1,571 53 21,317 -7,486 -12,542 -12,690 -14,570 -16,273 -22,257 Memo: IBRD 135 559 291 12 -824 -1,012 -1,813 -2,829 -2,641 -3,575 IDA 8 55 102 273 469 167 249 212 280 266 DEBT SERVICE (LTDS) 4,849 38,534 36,583 116,695 144,497 158,270 142,953 125,791 127,459 108,803 Public and publicly guaranteed 2,449 27,145 32,105 62,744 71,044 82,179 72,689 66,038 71,179 57,012 Official creditors 812 3,909 11,940 21,206 23,870 25,467 18,899 22,234 26,567 21,821 Multilateral 328 1,713 8,875 10,670 13,864 16,174 12,610 15,217 20,361 14,943 Concessional 14 85 252 436 411 429 383 364 490 600 Bilateral 484 2,196 3,064 10,536 10,006 9,293 6,289 7,017 6,206 6,878 Concessional 193 570 319 2,177 2,240 1,942 1,871 2,041 1,995 2,219 Private creditors 1,638 23,236 20,165 41,538 47,174 56,712 53,790 43,804 44,612 35,191 Bonds 149 1,128 4,406 28,599 28,639 43,968 36,750 25,113 29,840 25,890 Commercial banks 846 18,777 11,910 9,870 16,134 10,357 13,856 16,174 12,983 8,061 Other private 643 3,331 3,849 3,069 2,401 2,387 3,184 2,517 1,788 1,240 Private nonguaranteed 2,400 11,389 4,478 53,951 73,453 76,091 70,264 59,753 56,280 51,791 Bonds 0 0 0 11,922 12,690 14,042 11,239 11,967 9,682 14,385 Commercial banks and other 2,400 11,389 4,478 42,029 60,763 62,049 59,025 47,786 46,598 37,406 Memo: IBRD 219 1,028 5,848 5,757 6,309 6,621 6,670 7,219 9,017 6,899 IDA 1 5 17 36 30 35 24 38 43 80 UNDISBURSED DEBT 5,229 35,865 46,011 95,993 95,435 79,624 68,365 65,006 69,837 .. Official creditors 3,262 20,707 31,386 64,365 67,361 51,141 44,566 43,870 37,873 .. Private creditors 1,967 15,158 14,624 31,627 28,074 28,483 23,799 21,136 31,964 .. Memorandum items Concessional LDOD 4,227 10,027 24,009 33,166 34,298 31,149 29,736 31,615 34,696 .. Variable rate LDOD 12,501 117,262 196,142 390,632 411,672 390,597 378,247 363,639 363,170 .. Public sector LDOD 15,276 124,749 324,572 386,685 395,046 394,585 391,142 400,772 417,822 .. Private sector LDOD 12,369 48,218 28,399 224,580 246,955 244,210 240,634 228,213 230,742 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 12.0 12.2 .. Deutsche mark 7.8 6.1 6.3 5.8 4.5 3.8 3.2 .. .. .. French franc 2.3 2.0 3.9 1.8 1.4 1.0 1.0 .. .. .. Japanese yen 0.1 4.9 6.2 6.4 6.8 6.5 5.9 5.7 5.2 .. Pound sterling 4.6 1.5 1.6 1.1 0.9 0.6 0.5 0.5 0.4 .. Swiss franc 1.9 1.3 0.9 0.4 0.3 0.2 0.2 0.2 0.2 .. U.S.dollars 63.0 70.1 59.5 72.7 73.5 74.5 76.2 76.0 76.9 .. Multiple currency 16.9 10.5 18.8 7.5 6.9 6.2 5.7 5.2 4.7 .. Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 .. All other currencies 3.5 3.7 2.7 4.3 5.8 7.0 7.3 0.3 0.2 .. 17 LATIN AMERICA AND CARIBBEAN (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 7. DEBT RESTRUCTURINGS Total amount rescheduled 117 1,124 63,739 4,978 1,194 5,167 369 126 3,492 .. Debt stock rescheduled 0 1 59,026 4,459 582 3,783 158 0 3,076 .. Principal rescheduled 0 104 3,055 105 387 852 1,186 61 80 .. Official 0 0 1,533 99 370 734 167 59 80 .. Private 0 104 1,522 6 17 118 1,020 3 0 .. Interest rescheduled 0 0 1,507 457 98 236 150 42 31 .. Official 0 0 960 307 91 217 81 41 31 .. Private 0 0 547 150 7 18 69 1 0 .. Debt forgiven 6 28 180 230 170 98 243 382 336 .. Memo: interest forgiven 0 0 259 25 29 20 388 202 193 .. Debt stock reduction 0 0 21,301 2,903 5,915 19,728 15,065 4,553 11 .. of which debt buyback 0 0 2,756 2,158 4,131 15,851 13,282 3,820 0 .. 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks 17,407 45,363 19,982 81,827 19,603 -16,689 -5,966 -2,951 33,407 .. Net flows on debt 2,825 45,710 18,116 37,310 12,073 -8,363 5,385 -8,550 3,266 2,496 Net change in interest arrears 0 -20 9,065 335 -1,358 -273 -443 5,441 7,167 .. Interest capitalized 0 0 1,507 457 98 236 150 42 31 .. Debt forgiveness or reduction -6 -28 -18,724 -975 -1,954 -3,975 -2,025 -1,115 -347 .. Cross-currency valuation -50 -891 11,548 5,885 -5,622 -10,127 -7,544 15,476 18,000 .. Residual 14,638 593 -1,530 38,815 16,367 5,815 -1,490 -14,246 5,290 .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.0 11.4 7.9 7.6 8.1 8.3 6.6 6.0 5.7 .. Maturity (years) 14.4 11.6 15.1 10.2 10.3 12.6 12.1 13.6 11.8 .. Grace period (years) 3.6 4.2 5.1 5.1 6.3 9.0 7.2 7.4 9.0 .. Grant element (%) 16.7 -5.4 12.3 9.0 8.8 5.3 15.6 21.1 20.7 .. Official creditors Interest (%) 6.0 7.8 7.0 6.4 5.6 5.9 5.2 4.0 3.1 .. Maturity (years) 23.4 17.2 18.1 9.1 14.5 12.6 15.5 17.6 13.2 .. Grace period (years) 5.5 4.5 5.0 2.5 4.8 3.1 3.8 4.4 4.3 .. Grant element (%) 27.5 15.0 18.8 12.1 24.7 18.7 25.6 35.2 37.6 .. Private creditors Interest (%) 7.7 12.9 9.1 8.5 9.5 9.4 7.3 7.5 6.5 .. Maturity (years) 8.9 9.3 11.1 11.1 7.9 12.6 10.2 10.6 11.4 .. Grace period (years) 2.4 4.0 5.3 7.3 7.2 11.6 9.1 9.7 10.5 .. Grant element (%) 10.1 -13.7 3.6 6.4 -0.3 -0.3 10.3 10.8 15.4 .. Memorandum items Commitments 4,380 33,868 26,139 87,676 57,693 63,520 66,518 36,563 61,100 .. Official creditors 1,649 9,739 14,921 40,117 21,081 18,951 23,270 15,357 14,659 .. Private creditors 2,731 24,129 11,218 47,559 36,612 44,569 43,248 21,205 46,441 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 160.0 2004 2004 140.0 2003 2003 120.0 2002 2002 100.0 2001 2001 80.0 2000 2000 60.0 1999 1999 40.0 1998 1998 20.0 1997 1997 0.0 1997 1998 1999 2000 2001 2002 2003 2004 -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 2/16/05 12:15 PM MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 4,822 64,482 139,555 160,930 155,795 144,554 142,141 150,180 158,827 155,469 Long-term debt (LDOD) 4,167 54,538 118,044 135,903 129,661 121,209 121,473 129,471 136,712 133,544 Public and publicly guaranteed 4,152 53,943 116,626 128,891 122,678 114,680 114,908 123,016 129,966 125,980 Private nonguaranteed 15 595 1,418 7,012 6,983 6,529 6,564 6,455 6,747 7,564 Use of IMF credit 100 916 1,815 2,954 2,901 2,542 2,340 2,219 1,831 1,387 Short-term debt .. 9,028 19,696 22,072 23,233 20,803 18,329 18,490 20,284 20,537 of which interest arrears on LDOD .. 391 2,878 2,381 2,548 2,666 2,722 2,807 2,784 .. Official creditors .. 391 1,647 2,232 2,402 2,523 2,580 2,658 2,625 .. Private creditors .. 0 1,231 149 146 143 142 150 159 .. Memo: principal arrears on LDOD .. 114 8,187 9,167 10,217 11,095 11,679 12,542 12,794 .. Official creditors .. 108 3,579 8,082 9,122 10,033 10,619 11,456 11,676 .. Private creditors .. 6 4,608 1,086 1,096 1,062 1,060 1,086 1,118 .. Memo: export credits .. 0 49,584 26,575 24,237 22,875 21,161 23,269 25,613 .. TOTAL DEBT FLOWS Disbursements 891 11,786 13,324 10,855 9,674 9,629 12,862 14,074 12,127 16,701 Long-term debt 853 11,435 13,258 10,404 9,173 9,605 12,698 13,976 12,127 16,701 IMF purchases 38 350 65 451 501 24 165 99 0 0 Principal repayments 413 5,021 12,618 10,598 13,630 11,592 10,186 12,080 14,640 16,981 Long-term debt 382 4,789 12,221 10,104 13,150 11,354 9,908 11,684 14,080 16,560 IMF repurchases 31 233 397 494 480 238 278 396 560 421 Net flows on debt 478 7,971 2,330 3,600 -2,963 -4,511 146 2,070 -696 -64 of which short-term debt .. 1,207 1,625 3,343 993 -2,548 -2,530 76 1,817 216 Interest payments (INT) .. 4,216 5,980 6,907 6,493 6,213 5,771 5,759 6,179 5,436 Long-term debt 100 3,315 4,578 5,807 5,378 5,164 4,959 5,171 5,546 4,829 IMF charges 0 32 180 127 111 130 104 60 35 25 Short-term debt .. 868 1,221 974 1,005 919 708 527 598 583 Net transfers on debt .. 3,755 -3,649 -3,308 -9,456 -10,724 -5,625 -3,689 -6,875 -5,501 Total debt service paid (TDS) .. 9,238 18,598 17,506 20,123 17,805 15,958 17,839 20,819 22,418 Long-term debt 482 8,104 16,799 15,911 18,528 16,518 14,868 16,855 19,626 21,389 IMF repurchases and charges 31 265 577 621 591 368 382 456 595 446 Short-term debt (interest only) .. 868 1,221 974 1,005 919 708 527 598 583 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 963 12,674 9,879 7,114 3,111 5,813 10,607 8,295 6,497 8,361 Net flow of long-term debt (ex. IMF) 471 6,647 1,037 300 -3,977 -1,749 2,789 2,292 -1,953 141 Foreign direct investment (net) 112 1,456 741 3,146 3,741 4,264 5,723 3,808 4,755 4,100 Portfolio equity flows -1 0 5 206 644 243 -123 -233 100 160 Grants (excluding technical coop.) 382 4,571 8,096 3,463 2,703 3,055 2,217 2,428 3,594 3,960 Memo: technical coop. grants 263 985 2,516 1,626 2,110 1,583 1,881 2,166 2,176 2,398 official net resource flows 574 9,221 9,560 1,937 187 513 1,164 175 1,649 1,745 private net resource flows 389 3,453 319 5,177 2,924 5,300 9,444 8,120 4,848 6,616 NET TRANSFERS 864 8,169 4,297 -415 -4,357 -1,969 3,093 98 -2,549 732 Interest on long-term debt 100 3,315 4,578 5,807 5,378 5,164 4,959 5,171 5,546 4,829 Profit remittances on FDI 0 1,189 1,004 1,722 2,090 2,617 2,554 3,026 3,499 2,800 Memo: official net transfers 509 8,448 7,483 -1,856 -3,234 -2,608 -1,785 -2,980 -1,627 -612 private net transfers 354 -279 -3,186 1,441 -1,123 640 4,879 3,078 -922 1,344 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 20,775 168,080 232,814 343,882 345,505 374,131 399,985 388,869 432,312 460,481 Exports of goods, serv. & inc. (XGS) 0 64,435 88,821 97,886 114,394 136,040 136,326 146,215 170,373 209,878 Worker remit. & comp. of employees 211 5,304 11,711 12,474 12,153 12,329 14,400 14,822 16,083 16,954 Imports of goods & services (MGS) 0 66,314 84,060 105,459 103,491 110,385 116,803 127,290 145,885 165,740 International reserves (RES) 1,668 34,142 17,195 48,123 47,185 51,587 60,868 74,163 97,676 110,124 Current account balance 0 -2,818 6,910 -12,886 1,795 13,051 6,748 6,077 6,585 6,489 4. DEBT INDICATORS EDT / XGS (%) .. 100.1 157.1 164.4 136.2 106.3 104.3 102.7 93.2 74.1 EDT / GNI (%) .. 38.4 59.9 46.8 45.1 38.6 35.5 38.6 36.7 33.8 TDS / XGS (%) .. 14.3 20.9 17.9 17.6 13.1 11.7 12.2 12.2 10.7 INT / XGS (%) .. 6.5 6.7 7.1 5.7 4.6 4.2 3.9 3.6 2.6 INT / GNI (%) .. 2.5 2.6 2.0 1.9 1.7 1.4 1.5 1.4 1.2 RES / EDT (%) .. 52.9 12.3 29.9 30.3 35.7 42.8 49.4 61.5 70.8 RES / MGS (months) .. 6.2 2.5 5.5 5.5 5.6 6.3 7.0 8.0 8.0 Short-term / EDT (%) .. 14.0 14.1 13.7 14.9 14.4 12.9 12.3 12.8 13.2 Concessional / EDT (%) .. 27.7 31.2 38.5 39.3 39.8 39.2 38.5 38.4 39.1 Multilateral / EDT (%) .. 8.6 11.2 15.1 15.6 16.2 16.3 16.2 16.8 16.6 19 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 4,167 54,538 118,044 135,903 129,661 121,209 121,473 129,471 136,712 133,544 Public and publicly guaranteed 4,152 53,943 116,626 128,891 122,678 114,680 114,908 123,016 129,966 125,980 Official creditors 3,043 27,520 71,057 100,928 95,390 88,169 85,931 89,130 94,323 91,665 Multilateral 172 5,524 15,606 24,315 24,299 23,387 23,187 24,393 26,740 25,808 Concessional 32 2,535 3,573 7,102 7,583 7,840 8,109 8,550 9,696 10,055 Bilateral 2,871 21,996 55,451 76,613 71,090 64,782 62,744 64,737 67,584 65,856 Concessional 2,466 15,330 40,018 54,806 53,597 49,651 47,606 49,205 51,274 50,769 Private creditors 1,108 26,424 45,569 27,963 27,289 26,511 28,977 33,886 35,643 34,316 Bonds 38 720 1,683 4,967 6,693 7,600 11,640 16,335 17,466 18,294 Commercial banks 56 10,395 15,236 11,055 10,528 10,163 9,131 8,865 8,404 6,279 Other private 1,014 15,309 28,650 11,941 10,067 8,748 8,207 8,686 9,773 9,743 Private nonguaranteed 15 595 1,418 7,012 6,983 6,529 6,564 6,455 6,747 7,564 Bonds 0 0 0 785 771 836 936 801 796 1,396 Commercial banks and other 15 595 1,418 6,227 6,212 5,693 5,628 5,654 5,951 6,168 Memo: IBRD 139 2,384 8,300 8,823 8,371 7,667 7,293 7,502 7,827 7,134 IDA 32 669 1,774 2,559 2,698 2,685 2,680 2,916 3,196 3,263 DISBURSEMENTS 853 11,435 13,258 10,404 9,173 9,605 12,698 13,976 12,127 16,701 Public and publicly guaranteed 845 11,182 13,169 7,452 8,043 8,192 11,220 12,210 10,445 13,058 Official creditors 420 5,559 5,721 3,807 3,920 3,344 3,740 3,339 4,427 5,228 Multilateral 32 705 2,380 2,550 2,766 1,867 2,449 2,390 3,469 2,954 Concessional 8 182 242 816 922 526 790 569 1,272 1,039 Bilateral 388 4,854 3,341 1,257 1,154 1,477 1,291 950 958 2,275 Concessional 255 3,449 1,864 906 885 781 904 731 751 1,696 Private creditors 425 5,623 7,448 3,645 4,123 4,848 7,480 8,871 6,018 7,829 Bonds 5 66 0 1,450 1,480 2,031 4,853 6,070 2,675 3,540 Commercial banks 17 1,711 727 956 1,011 1,377 1,010 1,359 1,164 2,172 Other private 403 3,845 6,721 1,238 1,632 1,440 1,617 1,441 2,179 2,117 Private nonguaranteed 8 254 89 2,952 1,130 1,413 1,478 1,766 1,682 3,644 Bonds 0 0 0 0 146 115 200 140 160 750 Commercial banks and other 8 254 89 2,952 984 1,298 1,278 1,626 1,522 2,894 Memo: IBRD 23 421 1,164 610 990 532 707 501 577 386 IDA 8 82 37 180 207 118 118 155 148 164 PRINCIPAL REPAYMENTS 382 4,789 12,221 10,104 13,150 11,354 9,908 11,684 14,080 16,560 Public and publicly guaranteed 379 4,675 12,044 9,302 10,937 10,579 8,843 9,686 12,499 14,374 Official creditors 228 909 4,257 5,333 6,436 5,885 4,794 5,592 6,372 7,443 Multilateral 16 202 1,304 1,983 2,042 2,036 2,096 2,667 3,293 3,769 Concessional 0 6 141 305 304 377 405 441 572 581 Bilateral 212 707 2,954 3,349 4,394 3,849 2,698 2,925 3,079 3,675 Concessional 137 386 1,597 1,325 1,309 1,499 1,674 1,884 1,845 1,956 Private creditors 152 3,766 7,787 3,969 4,501 4,694 4,049 4,093 6,127 6,931 Bonds 3 33 76 10 44 896 574 925 1,981 2,614 Commercial banks 2 1,424 1,956 1,187 1,578 1,474 1,448 1,526 2,356 2,156 Other private 146 2,309 5,754 2,772 2,880 2,324 2,027 1,643 1,790 2,160 Private nonguaranteed 3 114 177 803 2,213 775 1,065 1,998 1,581 2,186 Bonds 0 0 0 100 160 50 100 275 165 150 Commercial banks and other 3 114 177 703 2,053 725 965 1,723 1,416 2,036 Memo: IBRD 16 140 761 936 945 872 832 854 958 1,078 IDA 0 1 14 36 40 45 54 61 68 67 NET FLOWS ON DEBT 471 6,647 1,037 300 -3,977 -1,749 2,789 2,292 -1,953 141 Public and publicly guaranteed 466 6,507 1,125 -1,850 -2,894 -2,388 2,377 2,524 -2,054 -1,316 Official creditors 193 4,650 1,464 -1,526 -2,516 -2,541 -1,054 -2,253 -1,945 -2,215 Multilateral 16 503 1,076 566 724 -169 354 -278 176 -815 Concessional 8 175 101 511 618 149 386 128 699 458 Bilateral 176 4,147 388 -2,092 -3,239 -2,373 -1,407 -1,975 -2,121 -1,400 Concessional 118 3,064 267 -419 -424 -718 -770 -1,154 -1,093 -260 Private creditors 273 1,857 -338 -324 -378 154 3,431 4,777 -109 899 Bonds 2 34 -76 1,440 1,436 1,135 4,279 5,145 694 926 Commercial banks 15 286 -1,229 -230 -566 -97 -439 -166 -1,192 15 Other private 257 1,537 967 -1,533 -1,248 -884 -410 -201 389 -43 Private nonguaranteed 5 140 -88 2,150 -1,084 639 413 -232 101 1,458 Bonds 0 0 0 -100 -14 65 100 -135 -5 600 Commercial banks and other 5 140 -88 2,250 -1,070 574 313 -97 106 858 Memo: IBRD 8 281 403 -325 46 -339 -125 -353 -381 -692 IDA 8 81 24 144 167 73 63 94 80 98 20 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 INTEREST PAYMENTS (LINT) 100 3,315 4,578 5,807 5,378 5,164 4,959 5,171 5,546 4,829 Public and publicly guaranteed 99 3,266 4,474 5,417 5,066 4,852 4,664 4,949 5,306 4,285 Official creditors 65 773 2,077 3,793 3,422 3,122 2,949 3,155 3,275 2,357 Multilateral 9 238 860 1,320 1,387 1,306 1,218 1,223 1,131 977 Concessional 0 19 56 184 185 188 244 217 248 273 Bilateral 56 534 1,217 2,473 2,034 1,815 1,731 1,932 2,144 1,380 Concessional 42 331 438 1,012 838 756 797 1,104 1,374 617 Private creditors 34 2,493 2,397 1,624 1,644 1,730 1,716 1,794 2,031 1,928 Bonds 2 71 124 241 353 474 750 1,101 1,372 1,311 Commercial banks 0 1,330 851 504 604 657 493 324 314 298 Other private 32 1,092 1,422 878 687 599 473 370 345 318 Private nonguaranteed 1 50 104 390 312 313 295 222 240 544 Bonds 0 0 0 77 69 69 77 83 73 87 Commercial banks and other 1 50 104 312 243 244 218 139 167 457 Memo: IBRD 9 198 598 582 617 603 535 454 392 302 IDA 0 5 12 18 19 20 20 21 22 26 NET TRANSFERS ON DEBT 371 3,331 -3,541 -5,507 -9,355 -6,913 -2,170 -2,879 -7,499 -4,688 Public and publicly guaranteed 367 3,241 -3,349 -7,267 -7,959 -7,239 -2,288 -2,425 -7,360 -5,601 Official creditors 128 3,877 -613 -5,319 -5,937 -5,663 -4,002 -5,408 -5,220 -4,572 Multilateral 7 265 216 -754 -663 -1,475 -865 -1,500 -955 -1,792 Concessional 8 156 45 327 434 -40 142 -90 451 186 Bilateral 120 3,612 -829 -4,565 -5,274 -4,188 -3,138 -3,908 -4,265 -2,780 Concessional 76 2,733 -171 -1,430 -1,262 -1,474 -1,567 -2,257 -2,467 -877 Private creditors 239 -636 -2,735 -1,948 -2,022 -1,576 1,715 2,983 -2,140 -1,029 Bonds -1 -38 -201 1,198 1,083 660 3,529 4,044 -678 -385 Commercial banks 14 -1,044 -2,080 -735 -1,171 -754 -931 -490 -1,506 -283 Other private 225 445 -455 -2,411 -1,935 -1,483 -882 -571 44 -361 Private nonguaranteed 4 90 -192 1,760 -1,396 326 118 -454 -139 914 Bonds 0 0 0 -177 -83 -4 23 -218 -78 513 Commercial banks and other 4 90 -192 1,937 -1,313 330 94 -236 -61 400 Memo: IBRD -1 83 -195 -907 -571 -942 -659 -806 -773 -995 IDA 8 76 11 126 148 54 43 73 57 72 DEBT SERVICE (LTDS) 482 8,104 16,799 15,911 18,528 16,518 14,868 16,855 19,626 21,389 Public and publicly guaranteed 479 7,941 16,518 14,719 16,003 15,431 13,507 14,635 17,805 18,659 Official creditors 292 1,682 6,334 9,126 9,858 9,007 7,742 8,747 9,647 9,800 Multilateral 25 440 2,164 3,304 3,429 3,342 3,314 3,890 4,424 4,746 Concessional 0 25 197 489 489 566 649 659 820 854 Bilateral 268 1,242 4,170 5,822 6,428 5,665 4,429 4,857 5,223 5,054 Concessional 179 717 2,035 2,337 2,147 2,254 2,471 2,988 3,218 2,573 Private creditors 186 6,259 10,184 5,593 6,145 6,424 5,765 5,888 8,158 8,859 Bonds 6 104 201 252 397 1,371 1,324 2,026 3,353 3,925 Commercial banks 3 2,754 2,807 1,691 2,182 2,130 1,941 1,849 2,670 2,455 Other private 178 3,401 7,176 3,650 3,566 2,923 2,499 2,012 2,135 2,478 Private nonguaranteed 3 164 281 1,192 2,525 1,087 1,360 2,220 1,821 2,730 Bonds 0 0 0 177 229 119 177 358 238 237 Commercial banks and other 3 164 281 1,015 2,297 969 1,184 1,862 1,583 2,493 Memo: IBRD 24 338 1,359 1,518 1,562 1,475 1,366 1,307 1,350 1,380 IDA 0 6 26 54 59 65 74 82 90 93 UNDISBURSED DEBT 1,915 28,078 32,228 22,956 25,474 23,504 23,508 24,165 23,567 .. Official creditors 1,541 16,007 19,167 17,349 19,196 17,161 17,213 17,770 18,565 .. Private creditors 374 12,071 13,060 5,606 6,278 6,342 6,294 6,395 5,001 .. Memorandum items Concessional LDOD 2,498 17,865 43,591 61,907 61,179 57,491 55,715 57,755 60,970 .. Variable rate LDOD 41 10,209 29,736 43,084 38,960 35,515 34,162 35,101 36,517 .. Public sector LDOD 4,129 53,797 116,461 128,473 122,283 114,317 114,619 122,708 129,647 .. Private sector LDOD 37 741 1,583 7,430 7,378 6,893 6,854 6,762 7,065 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 23.9 28.6 .. Deutsche mark 7.7 7.3 7.7 6.6 5.7 5.4 5.1 .. .. .. French franc 18.6 11.4 13.6 12.2 10.8 10.3 9.1 .. .. .. Japanese yen 0.0 6.5 7.3 9.7 11.6 10.7 9.4 9.6 10.4 .. Pound sterling 4.1 1.5 1.7 1.0 1.0 0.9 1.3 1.3 1.4 .. Swiss franc 1.1 1.4 1.0 0.7 0.7 0.8 0.9 1.1 1.2 .. U.S.dollars 33.0 52.4 44.8 49.9 49.4 50.5 52.2 51.1 45.8 .. Multiple currency 3.1 5.3 8.7 4.9 4.6 4.4 3.9 3.3 2.8 .. Special drawing rights 0.0 0.0 0.5 0.3 0.4 0.4 0.4 0.3 0.4 .. All other currencies 32.5 14.1 14.7 14.7 15.8 16.6 17.6 9.4 9.4 .. 21 MIDDLE EAST AND NORTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 7. DEBT RESTRUCTURINGS Total amount rescheduled 0 0 4,565 1,025 425 340 1,186 290 564 .. Debt stock rescheduled 0 0 2,732 0 0 0 142 0 0 .. Principal rescheduled 0 0 1,039 797 274 210 485 121 255 .. Official 0 0 679 252 150 167 464 101 234 .. Private 0 0 359 545 125 43 21 20 21 .. Interest rescheduled 0 0 219 86 97 73 174 106 176 .. Official 0 0 137 59 66 55 139 76 126 .. Private 0 0 82 27 31 19 34 31 51 .. Debt forgiven 0 2 10,614 24 12 179 116 1 58 .. Memo: interest forgiven 0 0 2,481 1 0 0 0 0 5 .. Debt stock reduction 0 0 0 0 0 120 79 66 8 .. of which debt buyback 0 0 0 0 0 85 35 0 0 .. 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks -923 13,570 -3,780 9,633 -5,134 -11,241 -2,413 8,038 8,648 .. Net flows on debt 478 7,971 2,330 3,600 -2,963 -4,511 146 2,070 -696 -64 Net change in interest arrears 4 68 -1,485 134 167 118 56 86 -23 .. Interest capitalized 0 0 219 86 97 73 174 106 176 .. Debt forgiveness or reduction 0 -2 -10,614 -24 -12 -214 -161 -67 -66 .. Cross-currency valuation -1 -868 5,333 3,855 -3,471 -4,080 -3,543 7,564 8,800 .. Residual -1,404 6,401 437 1,982 1,047 -2,628 915 -116 455 .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.6 6.5 7.4 5.2 5.1 5.9 5.7 5.2 3.3 .. Maturity (years) 18.6 18.4 13.6 14.1 14.0 13.0 12.7 12.2 14.3 .. Grace period (years) 6.2 4.7 4.0 4.8 4.3 4.8 5.3 4.0 5.1 .. Grant element (%) 33.5 23.7 15.7 27.4 27.0 22.8 23.1 26.0 34.5 .. Official creditors Interest (%) 3.7 4.7 5.5 3.8 3.8 4.6 3.8 3.2 3.3 .. Maturity (years) 23.6 24.1 21.5 20.2 19.1 18.6 19.7 17.2 17.8 .. Grace period (years) 8.4 5.9 6.3 5.6 4.9 5.3 4.7 4.7 4.7 .. Grant element (%) 43.6 38.8 32.4 41.2 39.6 34.3 38.7 39.3 40.0 .. Private creditors Interest (%) 6.3 8.6 8.8 6.8 6.4 7.0 6.8 6.3 3.3 .. Maturity (years) 9.4 11.5 7.7 7.8 9.1 8.4 8.5 9.5 10.7 .. Grace period (years) 2.0 3.3 2.3 4.0 3.7 4.4 5.6 3.5 5.5 .. Grant element (%) 14.7 5.6 3.4 13.2 14.6 13.4 13.7 19.0 29.0 .. Memorandum items Commitments 1,207 11,657 15,436 6,781 11,011 10,665 13,297 12,634 9,068 .. Official creditors 785 6,363 6,575 3,427 5,437 4,816 4,999 4,359 4,510 .. Private creditors 422 5,294 8,861 3,353 5,573 5,850 8,298 8,275 4,558 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 12.0 2004 2004 10.0 2003 2003 2002 2002 8.0 2001 2001 6.0 2000 2000 4.0 1999 1999 1998 1998 2.0 1997 1997 0.0 1997 1998 1999 2000 2001 2002 2003 2004 -2.0 0.0 2.0 4.0 6.0 -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 2/16/05 12:16 PM SOUTH ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 12,270 36,619 124,396 157,625 161,985 160,012 156,246 170,213 182,785 184,717 Long-term debt (LDOD) 11,721 31,663 107,527 148,064 152,644 152,042 149,093 160,519 173,031 175,852 Public and publicly guaranteed 11,616 31,306 105,800 136,857 142,266 136,634 134,931 144,613 155,235 156,440 Private nonguaranteed 105 357 1,727 11,206 10,378 15,408 14,161 15,906 17,796 19,412 Use of IMF credit 124 2,507 4,537 2,461 2,323 1,918 2,178 2,416 2,586 2,383 Short-term debt .. 2,448 12,331 7,101 7,018 6,052 4,976 7,277 7,168 6,483 of which interest arrears on LDOD .. 0 17 340 141 112 115 126 0 .. Official creditors .. 0 7 162 18 14 33 37 0 .. Private creditors .. 0 11 178 123 98 82 90 0 .. Memo: principal arrears on LDOD .. 0 34 810 261 222 246 277 4 .. Official creditors .. 0 34 529 46 34 80 98 4 .. Private creditors .. 0 1 281 215 188 165 179 0 .. Memo: export credits .. 0 9,370 5,638 6,149 6,759 6,009 6,465 7,544 .. TOTAL DEBT FLOWS Disbursements 1,578 6,146 12,098 15,437 9,779 14,188 8,890 10,802 13,537 15,206 Long-term debt 1,568 4,499 10,223 15,124 9,168 13,993 8,249 10,334 12,886 14,809 IMF purchases 10 1,647 1,875 313 611 195 641 468 650 397 Principal repayments 786 1,537 5,259 9,351 9,364 9,784 8,708 12,652 17,511 10,623 Long-term debt 525 1,211 4,104 8,613 8,668 9,301 8,399 12,241 16,808 10,052 IMF repurchases 260 326 1,155 738 696 483 310 411 703 571 Net flows on debt 792 5,654 8,389 4,746 532 3,466 -897 440 -3,958 4,370 of which short-term debt .. 1,045 1,550 -1,340 117 -938 -1,078 2,290 17 -214 Interest payments (INT) .. 1,186 6,048 6,374 5,284 5,655 5,162 5,052 7,323 5,744 Long-term debt 291 833 4,596 5,844 4,920 5,273 4,895 4,782 7,097 5,607 IMF charges 0 61 249 63 59 58 61 48 31 20 Short-term debt .. 291 1,202 467 305 323 206 222 195 117 Net transfers on debt .. 4,468 2,341 -1,627 -4,752 -2,189 -6,059 -4,612 -11,280 -1,374 Total debt service paid (TDS) .. 2,723 11,306 15,724 14,648 15,439 13,870 17,704 24,834 16,367 Long-term debt 816 2,045 8,700 14,457 13,588 14,574 13,294 17,023 23,905 15,659 IMF repurchases and charges 260 387 1,404 801 755 541 371 459 734 590 Short-term debt (interest only) .. 291 1,202 467 305 323 206 222 195 117 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 1,361 6,288 8,985 11,546 8,225 12,576 10,207 6,498 13,363 23,070 Net flow of long-term debt (ex. IMF) 1,043 3,288 6,119 6,511 500 4,692 -150 -1,906 -3,922 4,757 Foreign direct investment (net) 68 195 536 3,548 3,069 3,270 4,413 4,779 5,163 6,500 Portfolio equity flows 0 0 1 -627 2,382 2,512 2,783 1,089 8,199 7,465 Grants (excluding technical coop.) 250 2,806 2,330 2,115 2,274 2,102 3,161 2,537 3,923 4,348 Memo: technical coop. grants 113 666 1,494 1,116 1,156 1,099 1,094 1,271 1,539 1,706 official net resource flows 1,267 5,042 6,856 4,884 4,865 2,875 4,984 47 2,219 6,114 private net resource flows 95 1,247 2,129 6,663 3,360 9,701 5,223 6,451 11,143 16,956 NET TRANSFERS 1,070 5,421 4,273 4,485 2,195 4,668 1,876 -1,467 2,369 12,863 Interest on long-term debt 291 833 4,596 5,844 4,920 5,273 4,895 4,782 7,097 5,607 Profit remittances on FDI 0 34 117 1,218 1,111 2,635 3,436 3,183 3,897 4,600 Memo: official net transfers 1,024 4,419 4,677 2,518 2,458 610 2,916 -2,078 378 4,245 private net transfers 46 1,003 -404 1,967 -263 4,058 -1,040 611 1,991 8,618 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 79,702 231,574 397,190 538,753 574,757 596,470 616,103 648,180 757,624 822,250 Exports of goods, serv. & inc. (XGS) 0 23,723 41,056 83,755 91,356 103,067 107,477 129,374 153,257 163,853 Worker remit. & comp. of employees 121 5,296 5,572 13,350 15,084 16,017 15,959 22,152 26,787 32,666 Imports of goods & services (MGS) 0 29,913 53,116 96,483 100,901 117,025 114,863 125,872 145,786 174,482 International reserves (RES) 1,355 14,464 8,258 37,382 42,720 47,146 57,376 85,337 122,255 143,188 Current account balance 0 -4,070 -9,701 -9,486 -5,218 -5,978 1,041 8,221 11,925 -2,014 4. DEBT INDICATORS EDT / XGS (%) .. 154.4 303.0 188.2 177.3 155.3 145.4 131.6 119.3 112.7 EDT / GNI (%) .. 15.8 31.3 29.3 28.2 26.8 25.4 26.3 24.1 22.5 TDS / XGS (%) .. 11.5 27.5 18.8 16.0 15.0 12.9 13.7 16.2 10.0 INT / XGS (%) .. 5.0 14.7 7.6 5.8 5.5 4.8 3.9 4.8 3.5 INT / GNI (%) .. 0.5 1.5 1.2 0.9 0.9 0.8 0.8 1.0 0.7 RES / EDT (%) .. 39.5 6.6 23.7 26.4 29.5 36.7 50.1 66.9 77.5 RES / MGS (months) .. 5.8 1.9 4.6 5.1 4.8 6.0 8.1 10.1 9.8 Short-term / EDT (%) .. 6.7 9.9 4.5 4.3 3.8 3.2 4.3 3.9 3.5 Concessional / EDT (%) .. 73.3 54.5 51.7 55.2 50.2 51.3 51.8 52.7 52.2 Multilateral / EDT (%) .. 25.1 30.6 37.9 38.9 38.1 38.8 37.1 36.4 35.9 23 SOUTH ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 11,721 31,663 107,527 148,064 152,644 152,042 149,093 160,519 173,031 175,852 Public and publicly guaranteed 11,616 31,306 105,800 136,857 142,266 136,634 134,931 144,613 155,235 156,440 Official creditors 10,911 28,900 81,496 102,164 110,993 100,763 98,926 103,856 111,258 111,366 Multilateral 2,205 9,200 38,068 59,788 63,038 61,027 60,665 63,125 66,513 66,292 Concessional 1,347 7,697 26,757 42,924 45,355 44,401 44,447 49,958 54,546 54,213 Bilateral 8,706 19,700 43,427 42,376 47,955 39,736 38,261 40,731 44,745 45,075 Concessional 7,913 19,135 41,070 38,583 44,047 35,911 35,665 38,161 41,821 42,200 Private creditors 705 2,406 24,304 34,694 31,274 35,872 36,006 40,757 43,977 45,074 Bonds 14 2 2,613 6,796 6,460 10,903 10,789 10,497 7,619 8,520 Commercial banks 54 1,670 16,811 22,837 20,124 22,690 23,468 28,579 34,843 34,993 Other private 637 734 4,880 5,061 4,690 2,279 1,748 1,682 1,515 1,561 Private nonguaranteed 105 357 1,727 11,206 10,378 15,408 14,161 15,906 17,796 19,412 Bonds 0 0 0 3,691 2,919 1,560 1,313 1,183 996 3,338 Commercial banks and other 105 357 1,727 7,515 7,458 13,848 12,849 14,723 16,800 16,074 Memo: IBRD 852 1,242 9,646 11,188 11,182 10,210 9,832 7,848 6,833 6,890 IDA 1,347 7,065 21,071 31,377 32,131 31,963 32,909 36,501 40,109 41,092 DISBURSEMENTS 1,568 4,499 10,223 15,124 9,168 13,993 8,249 10,334 12,886 14,809 Public and publicly guaranteed 1,540 4,203 9,970 13,930 8,615 13,407 7,676 9,525 8,225 10,228 Official creditors 1,391 3,161 6,904 7,724 6,948 6,126 6,700 5,916 6,204 7,152 Multilateral 198 1,372 4,402 4,081 4,313 4,344 4,883 4,438 4,274 3,438 Concessional 84 1,138 2,327 2,497 2,345 2,387 3,123 2,904 2,297 2,450 Bilateral 1,192 1,789 2,501 3,643 2,635 1,782 1,818 1,478 1,930 3,714 Concessional 1,075 1,588 1,939 2,945 1,864 1,327 1,554 1,258 1,845 3,213 Private creditors 150 1,042 3,066 6,206 1,667 7,281 976 3,609 2,022 3,076 Bonds 0 0 427 4,299 0 5,512 0 0 1,348 1,250 Commercial banks 16 797 2,072 1,225 887 940 683 3,481 450 1,472 Other private 134 245 567 681 780 829 294 128 223 353 Private nonguaranteed 28 297 252 1,194 553 586 573 809 4,661 4,581 Bonds 0 0 0 300 0 0 0 240 206 2,442 Commercial banks and other 28 297 252 894 553 586 573 569 4,455 2,139 Memo: IBRD 108 190 1,576 664 1,078 866 873 681 810 480 IDA 84 928 1,558 1,598 1,522 1,655 2,194 2,248 1,725 1,922 PRINCIPAL REPAYMENTS 525 1,211 4,104 8,613 8,668 9,301 8,399 12,241 16,808 10,052 Public and publicly guaranteed 500 1,113 3,745 7,996 7,099 8,594 7,546 11,233 13,915 7,226 Official creditors 374 925 2,378 4,955 4,357 5,353 4,877 8,406 7,907 5,386 Multilateral 64 135 1,009 1,978 2,243 2,827 2,515 6,427 5,195 3,124 Concessional 0 23 239 626 711 800 889 957 1,110 981 Bilateral 310 790 1,369 2,977 2,115 2,526 2,362 1,979 2,712 2,262 Concessional 219 716 1,225 2,561 1,597 1,919 1,922 1,572 2,302 1,727 Private creditors 126 188 1,367 3,041 2,742 3,241 2,669 2,827 6,007 1,840 Bonds 3 0 280 264 436 50 86 320 4,299 344 Commercial banks 11 44 371 962 1,158 2,843 1,941 2,261 1,551 1,202 Other private 111 145 716 1,815 1,149 348 642 246 157 294 Private nonguaranteed 26 98 359 617 1,569 707 853 1,008 2,893 2,826 Bonds 0 0 0 149 765 35 90 370 320 100 Commercial banks and other 26 98 359 468 804 672 763 638 2,573 2,726 Memo: IBRD 64 99 553 1,049 1,134 1,232 965 3,283 2,148 668 IDA 0 19 151 420 489 548 636 691 803 653 NET FLOWS ON DEBT 1,043 3,288 6,119 6,511 500 4,692 -150 -1,906 -3,922 4,757 Public and publicly guaranteed 1,041 3,089 6,225 5,934 1,516 4,813 130 -1,708 -5,689 3,002 Official creditors 1,017 2,236 4,526 2,769 2,591 773 1,823 -2,490 -1,704 1,766 Multilateral 134 1,236 3,393 2,103 2,071 1,517 2,368 -1,988 -921 314 Concessional 84 1,115 2,088 1,872 1,635 1,587 2,233 1,947 1,187 1,469 Bilateral 882 999 1,133 666 520 -744 -545 -501 -782 1,452 Concessional 856 872 714 384 268 -592 -367 -314 -457 1,486 Private creditors 24 854 1,700 3,165 -1,075 4,040 -1,693 782 -3,986 1,236 Bonds -3 0 147 4,035 -436 5,462 -86 -320 -2,950 906 Commercial banks 4 753 1,701 263 -271 -1,903 -1,258 1,220 -1,101 270 Other private 23 100 -149 -1,133 -369 482 -349 -118 66 60 Private nonguaranteed 2 199 -107 577 -1,016 -121 -280 -199 1,767 1,756 Bonds 0 0 0 151 -765 -35 -90 -130 -114 2,342 Commercial banks and other 2 199 -107 426 -251 -86 -190 -69 1,881 -587 Memo: IBRD 44 91 1,023 -384 -56 -366 -92 -2,602 -1,338 -188 IDA 84 909 1,407 1,178 1,033 1,107 1,558 1,557 921 1,269 24 SOUTH ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 INTEREST PAYMENTS (LINT) 291 833 4,596 5,844 4,920 5,273 4,895 4,782 7,097 5,607 Public and publicly guaranteed 285 802 4,448 5,210 4,117 4,364 4,335 4,468 6,440 4,879 Official creditors 243 623 2,179 2,366 2,407 2,265 2,068 2,125 1,842 1,868 Multilateral 57 179 1,065 1,360 1,465 1,367 1,283 1,227 940 766 Concessional 9 53 198 327 368 361 361 387 418 384 Bilateral 185 444 1,114 1,006 942 898 785 898 901 1,103 Concessional 144 414 952 747 730 686 609 748 802 959 Private creditors 42 179 2,269 2,844 1,710 2,099 2,267 2,343 4,598 3,011 Bonds 1 0 180 130 287 210 407 396 1,430 323 Commercial banks 3 123 1,806 2,340 1,132 1,781 1,763 1,897 3,139 2,639 Other private 38 56 283 374 292 109 97 49 29 49 Private nonguaranteed 6 31 148 634 802 909 560 314 657 728 Bonds 0 0 0 267 245 227 214 164 51 128 Commercial banks and other 6 31 148 366 557 683 346 150 606 600 Memo: IBRD 48 104 752 723 699 614 528 468 283 217 IDA 9 47 149 224 235 236 238 254 282 259 NET TRANSFERS ON DEBT 752 2,455 1,523 667 -4,420 -581 -5,045 -6,688 -11,019 -849 Public and publicly guaranteed 756 2,288 1,777 724 -2,602 450 -4,205 -6,175 -12,129 -1,877 Official creditors 774 1,613 2,346 403 184 -1,492 -245 -4,615 -3,545 -102 Multilateral 77 1,058 2,328 743 606 151 1,085 -3,215 -1,862 -451 Concessional 75 1,062 1,890 1,544 1,267 1,226 1,872 1,560 769 1,086 Bilateral 697 555 18 -341 -421 -1,642 -1,330 -1,400 -1,684 349 Concessional 712 457 -238 -362 -462 -1,277 -977 -1,062 -1,259 527 Private creditors -18 675 -569 321 -2,786 1,941 -3,960 -1,561 -8,584 -1,775 Bonds -4 0 -33 3,905 -722 5,253 -493 -717 -4,380 583 Commercial banks 1 631 -105 -2,077 -1,403 -3,684 -3,021 -677 -4,240 -2,369 Other private -15 44 -431 -1,507 -661 373 -446 -167 36 11 Private nonguaranteed -4 167 -255 -57 -1,818 -1,031 -840 -513 1,110 1,028 Bonds 0 0 0 -117 -1,010 -262 -304 -294 -165 2,215 Commercial banks and other -4 167 -255 60 -808 -769 -536 -219 1,275 -1,186 Memo: IBRD -4 -13 270 -1,107 -755 -979 -620 -3,070 -1,621 -405 IDA 75 862 1,257 954 798 872 1,320 1,303 640 1,011 DEBT SERVICE (LTDS) 816 2,045 8,700 14,457 13,588 14,574 13,294 17,023 23,905 15,659 Public and publicly guaranteed 784 1,915 8,193 13,206 11,217 12,957 11,881 15,701 20,354 12,105 Official creditors 616 1,548 4,557 7,321 6,764 7,617 6,945 10,531 9,749 7,255 Multilateral 121 314 2,074 3,338 3,708 4,193 3,798 7,653 6,135 3,889 Concessional 9 76 438 953 1,078 1,161 1,250 1,343 1,528 1,365 Bilateral 495 1,234 2,483 3,983 3,056 3,424 3,147 2,878 3,614 3,365 Concessional 364 1,130 2,177 3,307 2,327 2,605 2,531 2,320 3,103 2,687 Private creditors 168 367 3,635 5,885 4,452 5,340 4,936 5,170 10,605 4,851 Bonds 4 0 460 394 722 260 493 717 5,729 667 Commercial banks 15 166 2,177 3,302 2,290 4,624 3,704 4,158 4,690 3,841 Other private 149 201 998 2,189 1,441 456 739 295 187 343 Private nonguaranteed 32 129 507 1,251 2,371 1,617 1,413 1,322 3,551 3,553 Bonds 0 0 0 417 1,010 262 304 534 371 227 Commercial banks and other 32 129 507 834 1,361 1,355 1,108 788 3,180 3,326 Memo: IBRD 112 203 1,306 1,771 1,833 1,845 1,493 3,750 2,431 885 IDA 9 66 300 644 724 784 874 945 1,085 911 UNDISBURSED DEBT 3,742 15,150 43,521 39,085 35,997 26,904 27,096 28,360 27,426 .. Official creditors 3,348 13,802 39,358 28,830 26,397 24,949 24,728 26,724 26,393 .. Private creditors 394 1,348 4,163 10,255 9,600 1,955 2,369 1,636 1,033 .. Memorandum items Concessional LDOD 9,259 26,832 67,827 81,506 89,402 80,312 80,113 88,119 96,367 .. Variable rate LDOD 105 1,008 14,678 35,399 34,686 40,206 36,136 34,923 37,382 .. Public sector LDOD 11,164 31,140 107,656 136,453 141,513 135,871 134,264 144,010 154,819 .. Private sector LDOD 557 523 -128 11,611 11,131 16,171 14,828 16,509 18,212 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 6.3 6.2 .. Deutsche mark 9.3 8.7 6.2 4.8 4.2 3.5 2.8 .. .. .. French franc 1.4 2.4 1.7 1.6 1.4 1.4 1.6 .. .. .. Japanese yen 5.3 9.2 12.5 15.6 17.3 14.5 13.3 14.4 15.4 .. Pound sterling 21.7 18.4 5.0 3.0 2.7 2.8 2.6 2.4 2.0 .. Swiss franc 0.4 0.3 0.5 0.3 0.2 0.3 0.3 0.3 0.2 .. U.S.dollars 41.1 42.9 54.1 52.9 52.9 58.0 59.9 61.8 63.7 .. Multiple currency 9.2 7.6 14.3 17.8 17.6 16.1 14.3 12.1 9.7 .. Special drawing rights 0.0 1.1 3.3 1.7 1.5 1.5 1.5 1.5 1.5 .. All other currencies 11.5 10.3 4.8 2.6 2.2 2.0 3.6 1.3 1.3 .. 25 SOUTH ASIA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 7. DEBT RESTRUCTURINGS Total amount rescheduled 0 0 0 0 3,421 918 13,268 157 10 .. Debt stock rescheduled 0 0 0 0 615 29 11,395 0 0 .. Principal rescheduled 0 0 0 0 2,158 653 1,325 0 0 .. Official 0 0 0 0 1,453 575 1,187 0 0 .. Private 0 0 0 0 705 78 138 0 0 .. Interest rescheduled 0 0 0 0 625 236 129 146 7 .. Official 0 0 0 0 508 200 109 145 7 .. Private 0 0 0 0 118 37 20 0 0 .. Debt forgiven 1 10 0 0 2 9 0 0 108 .. Memo: interest forgiven 0 0 0 0 0 0 0 0 13 .. 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 4,935 13,104 8,014 4,360 -1,974 -3,765 13,966 12,573 .. Net flows on debt 792 5,654 8,389 4,746 532 3,466 -897 440 -3,958 4,370 Net change in interest arrears -2 -1 5 230 -199 -29 3 12 -126 .. Interest capitalized 0 0 0 0 625 236 129 146 7 .. Debt forgiveness or reduction -1 -10 0 0 -2 -9 0 0 -108 .. Cross-currency valuation -338 -1,211 1,586 807 1,799 -8,295 -5,342 7,802 9,599 .. Residual -224 504 3,125 2,231 1,605 2,656 2,342 5,567 7,160 .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.5 4.7 4.7 3.4 3.4 4.6 3.1 2.2 1.5 .. Maturity (years) 32.5 32.5 24.2 14.0 24.3 12.9 23.3 24.9 25.5 .. Grace period (years) 9.7 7.4 7.8 6.0 6.3 5.3 6.3 7.2 7.1 .. Grant element (%) 51.6 46.4 40.2 34.6 46.7 27.7 48.2 56.3 61.4 .. Official creditors Interest (%) 2.2 2.2 3.7 3.7 3.2 5.0 2.8 2.1 1.3 .. Maturity (years) 34.8 39.0 28.9 27.7 27.1 23.4 25.5 26.5 27.4 .. Grace period (years) 10.5 8.6 8.1 7.5 7.1 6.3 7.0 7.4 7.3 .. Grant element (%) 55.9 59.4 51.0 49.4 51.6 36.5 52.6 58.7 65.0 .. Private creditors Interest (%) 5.9 12.8 6.8 3.3 4.7 4.3 4.7 2.8 3.5 .. Maturity (years) 11.7 10.9 14.8 6.3 9.0 5.3 9.4 6.7 8.3 .. Grace period (years) 2.6 3.6 7.1 5.1 2.1 4.6 2.0 4.1 5.1 .. Grant element (%) 12.5 2.6 18.8 26.4 19.8 21.2 20.6 28.2 27.3 .. Memorandum items Commitments 2,136 8,492 14,012 15,860 5,781 12,922 10,493 8,617 5,340 .. Official creditors 1,928 6,537 9,323 5,670 4,895 5,459 9,039 7,930 4,828 .. Private creditors 207 1,955 4,689 10,190 887 7,463 1,454 687 512 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 25.0 2004 2004 20.0 2003 2003 2002 2002 15.0 2001 2001 2000 2000 10.0 1999 1999 5.0 1998 1998 1997 1997 0.0 1997 1998 1999 2000 2001 2002 2003 2004 -5.0 0.0 5.0 10.0 15.0 -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 26 2/16/05 12:17 PM SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 6,921 60,660 176,878 228,623 214,960 211,343 203,187 211,432 231,360 218,405 Long-term debt (LDOD) 6,059 46,483 149,684 178,808 166,858 171,488 165,149 175,440 193,052 182,632 Public and publicly guaranteed 5,751 41,916 144,408 170,530 156,466 160,112 152,736 162,955 177,429 164,588 Private nonguaranteed 309 4,567 5,276 8,277 10,391 11,376 12,413 12,485 15,623 18,044 Use of IMF credit 106 3,033 6,612 7,387 7,124 6,739 6,323 7,009 7,244 6,932 Short-term debt .. 11,144 20,582 42,428 40,979 33,116 31,715 28,984 31,064 28,841 of which interest arrears on LDOD .. 1,713 9,359 20,245 19,491 14,197 14,842 13,873 16,894 .. Official creditors .. 1,609 6,419 17,126 16,547 11,759 12,338 11,341 14,314 .. Private creditors .. 104 2,940 3,119 2,944 2,438 2,504 2,531 2,580 .. Memo: principal arrears on LDOD .. 1,730 17,820 43,194 38,239 25,874 26,533 23,993 27,277 .. Official creditors .. 1,039 9,895 34,576 29,963 19,598 20,042 17,460 20,309 .. Private creditors .. 691 7,925 8,618 8,276 6,276 6,492 6,533 6,968 .. Memo: export credits .. 0 50,690 35,284 34,823 32,709 31,409 36,182 35,944 .. TOTAL DEBT FLOWS Disbursements 1,259 11,784 10,366 8,507 8,587 9,396 9,583 10,972 12,344 13,413 Long-term debt 1,240 10,567 9,706 7,706 8,075 8,872 8,993 9,748 11,945 12,949 IMF purchases 19 1,217 660 801 512 525 590 1,224 399 464 Principal repayments 452 3,172 5,582 9,323 8,933 8,884 9,253 9,500 8,668 11,366 Long-term debt 389 2,788 4,631 8,219 8,374 8,422 8,776 8,741 8,218 10,937 IMF repurchases 63 384 951 1,104 560 462 477 759 449 429 Net flows on debt 859 10,063 7,062 -1,293 -962 -523 -1,715 -290 2,736 3,629 of which short-term debt .. 1,451 2,278 -477 -616 -1,035 -2,045 -1,762 -941 1,581 Interest payments (INT) .. 3,506 5,306 5,012 4,692 4,467 3,690 3,472 3,544 3,869 Long-term debt 193 2,380 4,362 3,792 3,481 3,310 2,995 2,844 3,085 3,373 IMF charges 0 103 238 65 54 43 35 143 28 17 Short-term debt .. 1,022 705 1,155 1,157 1,114 660 485 430 479 Net transfers on debt .. 6,557 1,756 -6,304 -5,654 -4,989 -5,405 -3,762 -808 -240 Total debt service paid (TDS) .. 6,678 10,888 14,335 13,625 13,351 12,943 12,971 12,211 15,235 Long-term debt 582 5,169 8,993 12,012 11,854 11,732 11,771 11,584 11,303 14,310 IMF repurchases and charges 63 487 1,189 1,168 614 505 512 902 478 446 Short-term debt (interest only) .. 1,022 705 1,155 1,157 1,114 660 485 430 479 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 1,688 11,518 18,006 25,219 27,712 20,931 24,199 23,246 36,156 41,048 Net flow of long-term debt (ex. IMF) 851 7,778 5,074 -513 -299 450 218 1,007 3,727 2,012 Foreign direct investment (net) 110 178 1,008 6,957 9,065 6,339 14,891 8,985 10,099 11,300 Portfolio equity flows -1 3 393 8,652 9,031 4,157 -952 -367 699 3,520 Grants (excluding technical coop.) 396 3,616 11,931 10,123 9,915 9,986 10,042 13,620 21,631 24,216 Memo: technical coop. grants 637 2,676 5,003 3,867 3,349 3,698 3,993 4,551 5,194 5,814 official net resource flows 889 7,193 16,554 10,928 10,285 10,575 10,195 15,655 22,949 25,573 private net resource flows 799 4,325 1,452 14,291 17,428 10,356 14,004 7,591 13,208 15,475 NET TRANSFERS 1,494 6,307 11,744 17,389 18,932 9,879 14,488 12,171 23,255 26,575 Interest on long-term debt 193 2,380 4,362 3,792 3,481 3,310 2,995 2,844 3,085 3,373 Profit remittances on FDI 356 3,837 2,861 4,039 5,299 7,743 6,715 8,231 9,816 11,100 Memo: official net transfers 775 6,504 13,847 8,887 8,379 8,770 8,589 14,231 21,471 24,038 private net transfers 719 -197 -2,102 8,502 10,553 1,108 5,899 -2,060 1,784 2,537 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 61,106 256,518 278,919 307,409 304,139 304,528 303,288 304,880 398,698 442,698 Exports of goods, serv. & inc. (XGS) 4,298 88,020 79,713 92,494 99,508 116,929 114,922 121,956 144,439 175,479 Worker remit. & comp. of employees 22 1,396 1,767 4,321 4,743 4,923 4,901 5,158 6,013 6,104 Imports of goods & services (MGS) 5,608 88,473 85,668 115,066 112,341 119,530 121,316 125,026 150,098 176,853 International reserves (RES) 3,085 22,950 15,363 28,984 30,421 36,774 37,030 37,849 41,442 52,039 Current account balance -1,289 513 -375 -15,660 -8,107 -4,214 -5,743 -3,241 -5,848 66,219 4. DEBT INDICATORS EDT / XGS (%) .. 68.9 221.9 247.2 216.0 180.7 176.8 173.4 160.2 124.5 EDT / GNI (%) .. 23.6 63.4 74.4 70.7 69.4 67.0 69.3 58.0 49.3 TDS / XGS (%) .. 7.6 13.7 15.5 13.7 11.4 11.3 10.6 8.5 8.7 INT / XGS (%) .. 4.0 6.7 5.4 4.7 3.8 3.2 2.8 2.5 2.2 INT / GNI (%) .. 1.4 1.9 1.6 1.5 1.5 1.2 1.1 0.9 0.9 RES / EDT (%) .. 37.8 8.7 12.7 14.2 17.4 18.2 17.9 17.9 23.8 RES / MGS (months) .. 3.1 2.2 3.0 3.2 3.7 3.7 3.6 3.3 3.5 Short-term / EDT (%) .. 18.4 11.6 18.6 19.1 15.7 15.6 13.7 13.4 13.2 Concessional / EDT (%) .. 27.1 33.1 39.3 39.3 39.0 39.6 43.2 49.3 50.8 Multilateral / EDT (%) .. 12.5 21.6 24.9 26.1 25.9 26.8 28.8 29.8 32.3 27 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 6,059 46,483 149,684 178,808 166,858 171,488 165,149 175,440 193,052 182,632 Public and publicly guaranteed 5,751 41,916 144,408 170,530 156,466 160,112 152,736 162,955 177,429 164,588 Official creditors 4,183 25,729 108,704 138,327 128,068 134,188 128,576 138,130 152,327 144,640 Multilateral 869 7,597 38,149 56,954 56,012 54,669 54,386 60,927 68,854 70,544 Concessional 240 3,986 24,009 45,008 45,336 45,335 46,271 52,774 60,269 62,855 Bilateral 3,314 18,132 70,555 81,373 72,056 79,520 74,190 77,204 83,473 74,096 Concessional 2,961 12,452 34,494 44,832 39,054 37,120 34,108 38,521 53,866 48,105 Private creditors 1,567 16,387 35,703 32,203 28,398 25,923 24,160 24,824 25,102 19,948 Bonds 352 637 301 8,322 8,566 9,150 9,248 10,693 10,974 8,728 Commercial banks 128 7,371 14,012 9,789 8,837 8,670 7,278 7,071 7,795 5,405 Other private 1,086 8,379 21,391 14,092 10,995 8,104 7,634 7,060 6,334 5,814 Private nonguaranteed 309 4,567 5,276 8,277 10,391 11,376 12,413 12,485 15,623 18,044 Bonds 0 0 0 1,036 645 1,360 2,557 3,823 8,180 8,816 Commercial banks and other 309 4,567 5,276 7,241 9,746 10,016 9,857 8,662 7,443 9,228 Memo: IBRD 587 2,548 9,160 4,945 4,169 3,473 2,900 2,721 2,674 2,433 IDA 226 2,578 15,756 33,040 33,452 33,621 34,524 39,368 45,216 46,841 DISBURSEMENTS 1,240 10,567 9,706 7,706 8,075 8,872 8,993 9,748 11,945 12,949 Public and publicly guaranteed 1,139 9,384 9,075 6,735 7,136 6,753 6,865 8,174 7,726 8,491 Official creditors 662 4,242 7,172 4,282 3,824 3,866 3,785 4,602 4,281 4,597 Multilateral 150 1,677 4,534 3,408 3,131 3,184 3,316 3,989 3,892 4,169 Concessional 72 860 2,762 2,939 2,742 2,827 3,139 3,757 3,489 3,871 Bilateral 512 2,565 2,638 874 693 682 469 613 389 428 Concessional 440 1,694 2,086 604 589 561 346 540 340 467 Private creditors 477 5,142 1,903 2,453 3,312 2,887 3,080 3,572 3,445 3,894 Bonds 12 52 0 0 1,627 765 1,222 2,472 1,414 1,000 Commercial banks 16 2,297 378 1,634 1,450 1,764 1,302 1,015 1,850 2,734 Other private 448 2,793 1,525 819 235 358 556 85 181 159 Private nonguaranteed 101 1,183 630 971 939 2,119 2,129 1,574 4,219 4,458 Bonds 0 0 0 373 0 712 1,250 1,554 4,174 786 Commercial banks and other 101 1,183 630 598 939 1,407 879 20 45 3,672 Memo: IBRD 75 400 808 159 89 75 56 55 71 32 IDA 61 424 2,027 2,099 1,968 2,193 2,442 2,860 2,744 2,633 PRINCIPAL REPAYMENTS 389 2,788 4,631 8,219 8,374 8,422 8,776 8,741 8,218 10,937 Public and publicly guaranteed 332 2,196 4,166 6,815 5,306 7,020 7,125 5,825 6,160 8,805 Official creditors 169 664 2,549 3,477 3,454 3,276 3,632 2,567 2,964 3,240 Multilateral 33 198 1,347 1,846 1,855 1,593 1,271 1,449 1,249 1,269 Concessional 0 30 269 511 541 513 448 540 450 440 Bilateral 136 467 1,201 1,631 1,600 1,683 2,361 1,119 1,714 1,971 Concessional 110 211 311 1,203 1,084 772 853 642 916 1,228 Private creditors 162 1,532 1,617 3,337 1,852 3,744 3,493 3,258 3,197 5,566 Bonds 27 24 31 123 92 480 489 941 778 3,211 Commercial banks 10 693 999 2,177 1,367 2,449 2,104 1,461 1,452 1,856 Other private 126 814 587 1,038 393 815 900 856 966 499 Private nonguaranteed 57 592 466 1,405 3,068 1,402 1,650 2,915 2,058 2,132 Bonds 0 0 0 0 358 0 45 350 250 151 Commercial banks and other 57 592 466 1,405 2,710 1,402 1,605 2,565 1,808 1,981 Memo: IBRD 29 111 719 741 685 550 437 459 391 322 IDA 0 5 51 184 230 226 244 304 223 539 NET FLOWS ON DEBT 851 7,778 5,074 -513 -299 450 218 1,007 3,727 2,012 Public and publicly guaranteed 807 7,188 4,910 -80 1,830 -267 -261 2,349 1,566 -315 Official creditors 493 3,577 4,624 805 370 590 153 2,035 1,317 1,357 Multilateral 117 1,479 3,187 1,562 1,277 1,591 2,045 2,541 2,643 2,900 Concessional 72 830 2,493 2,428 2,201 2,314 2,691 3,217 3,039 3,431 Bilateral 376 2,098 1,437 -757 -907 -1,001 -1,892 -506 -1,325 -1,543 Concessional 331 1,482 1,775 -599 -494 -212 -507 -103 -576 -761 Private creditors 314 3,611 286 -885 1,461 -857 -413 314 248 -1,672 Bonds -14 28 -31 -123 1,535 285 733 1,531 635 -2,211 Commercial banks 6 1,604 -621 -543 83 -685 -802 -446 398 878 Other private 322 1,979 938 -219 -158 -457 -344 -771 -785 -339 Private nonguaranteed 44 590 165 -434 -2,129 717 478 -1,341 2,162 2,326 Bonds 0 0 0 373 -358 712 1,205 1,204 3,924 635 Commercial banks and other 44 590 165 -807 -1,771 5 -727 -2,545 -1,762 1,691 Memo: IBRD 45 289 89 -582 -596 -475 -381 -404 -320 -289 IDA 61 419 1,976 1,915 1,739 1,967 2,198 2,557 2,522 2,094 28 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 INTEREST PAYMENTS (LINT) 193 2,380 4,362 3,792 3,481 3,310 2,995 2,844 3,085 3,373 Public and publicly guaranteed 178 1,930 4,031 3,454 3,168 2,904 2,511 2,310 2,439 2,575 Official creditors 113 689 2,707 2,041 1,906 1,805 1,605 1,424 1,477 1,535 Multilateral 35 286 1,110 1,012 988 829 621 878 749 637 Concessional 1 29 162 300 319 299 255 413 350 366 Bilateral 79 403 1,597 1,030 918 976 984 546 728 899 Concessional 61 209 560 631 442 302 290 274 338 1,003 Private creditors 64 1,241 1,324 1,413 1,263 1,099 905 886 962 1,040 Bonds 11 13 13 542 549 561 435 500 589 580 Commercial banks 8 786 616 474 341 305 276 199 223 302 Other private 45 442 695 397 373 233 194 187 150 158 Private nonguaranteed 16 451 331 338 312 406 484 533 646 797 Bonds 0 0 0 41 73 41 98 160 338 389 Commercial banks and other 16 451 331 297 239 365 386 373 308 408 Memo: IBRD 32 217 649 331 294 213 184 200 113 74 IDA 1 16 97 202 219 199 200 285 238 326 NET TRANSFERS ON DEBT 658 5,398 712 -4,306 -3,779 -2,860 -2,778 -1,836 642 -1,361 Public and publicly guaranteed 630 5,258 878 -3,534 -1,338 -3,171 -2,772 39 -874 -2,890 Official creditors 380 2,888 1,916 -1,236 -1,536 -1,215 -1,453 610 -160 -178 Multilateral 82 1,194 2,077 551 289 762 1,424 1,662 1,893 2,264 Concessional 71 801 2,331 2,128 1,882 2,015 2,436 2,804 2,688 3,064 Bilateral 297 1,695 -161 -1,787 -1,825 -1,977 -2,876 -1,052 -2,053 -2,442 Concessional 269 1,274 1,215 -1,229 -937 -513 -798 -377 -914 -1,764 Private creditors 250 2,370 -1,038 -2,298 198 -1,956 -1,319 -572 -714 -2,711 Bonds -25 15 -44 -665 986 -276 298 1,031 46 -2,791 Commercial banks -2 818 -1,236 -1,017 -258 -991 -1,078 -645 175 577 Other private 277 1,537 243 -615 -531 -690 -539 -958 -935 -497 Private nonguaranteed 28 140 -166 -771 -2,441 311 -6 -1,875 1,516 1,529 Bonds 0 0 0 332 -431 671 1,107 1,043 3,586 246 Commercial banks and other 28 140 -166 -1,104 -2,010 -360 -1,113 -2,918 -2,070 1,282 Memo: IBRD 14 72 -560 -913 -890 -687 -565 -604 -433 -363 IDA 60 403 1,879 1,714 1,520 1,768 1,998 2,271 2,283 1,768 DEBT SERVICE (LTDS) 582 5,169 8,993 12,012 11,854 11,732 11,771 11,584 11,303 14,310 Public and publicly guaranteed 510 4,126 8,197 10,269 8,474 9,924 9,636 8,135 8,600 11,380 Official creditors 283 1,354 5,256 5,519 5,360 5,081 5,237 3,992 4,441 4,775 Multilateral 68 483 2,457 2,858 2,842 2,422 1,892 2,327 1,999 1,906 Concessional 1 59 431 811 860 812 703 954 800 806 Bilateral 215 870 2,799 2,661 2,518 2,659 3,345 1,665 2,442 2,869 Concessional 171 420 871 1,833 1,526 1,074 1,144 917 1,254 2,232 Private creditors 227 2,772 2,941 4,750 3,114 4,843 4,399 4,144 4,159 6,605 Bonds 38 37 44 665 641 1,041 924 1,441 1,367 3,791 Commercial banks 18 1,479 1,615 2,651 1,708 2,755 2,380 1,660 1,676 2,158 Other private 171 1,257 1,282 1,434 765 1,047 1,095 1,043 1,116 657 Private nonguaranteed 72 1,043 796 1,742 3,380 1,808 2,135 3,449 2,703 2,929 Bonds 0 0 0 41 431 41 143 510 588 540 Commercial banks and other 72 1,043 796 1,702 2,949 1,767 1,992 2,939 2,115 2,390 Memo: IBRD 61 328 1,368 1,072 979 763 621 659 504 396 IDA 1 22 148 385 449 425 444 589 461 865 UNDISBURSED DEBT 2,734 20,788 34,348 21,934 18,788 17,298 18,460 19,291 20,163 .. Official creditors 2,279 14,313 30,360 19,885 17,301 16,386 17,783 18,593 19,425 .. Private creditors 455 6,475 3,989 2,049 1,487 911 677 698 738 .. Memorandum items Concessional LDOD 3,201 16,438 58,503 89,841 84,390 82,454 80,379 91,295 114,135 .. Variable rate LDOD 356 11,865 29,445 30,510 29,756 27,390 26,156 28,434 33,660 .. Public sector LDOD 5,689 42,022 144,238 170,323 156,010 159,204 152,171 162,397 177,221 .. Private sector LDOD 370 4,660 5,446 8,485 10,848 12,283 12,978 13,042 15,831 .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 14.8 23.0 .. Deutsche mark 6.6 7.0 6.4 4.7 4.3 2.7 2.4 .. .. .. French franc 14.4 13.9 14.1 10.9 10.1 7.8 7.2 .. .. .. Japanese yen 0.1 5.4 3.9 5.4 6.7 4.0 3.8 4.1 5.9 .. Pound sterling 22.1 5.6 5.4 3.8 3.9 2.0 1.8 1.7 4.3 .. Swiss franc 0.3 1.7 2.1 1.5 1.4 1.2 1.2 1.3 1.8 .. U.S.dollars 21.8 35.7 36.6 46.9 50.0 61.1 62.5 61.7 49.0 .. Multiple currency 11.2 8.9 10.4 7.6 7.7 7.0 6.7 6.5 6.3 .. Special drawing rights 0.0 0.0 0.6 1.1 1.2 1.1 1.2 1.2 1.2 .. All other currencies 23.4 22.3 20.5 18.1 14.8 13.0 13.1 8.6 8.5 .. 29 SUB-SAHARAN AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1998 1999 2000 2001 2002 2003 2004 7. DEBT RESTRUCTURINGS Total amount rescheduled 0 444 5,987 3,005 3,262 22,825 2,793 5,996 701 .. Debt stock rescheduled 0 0 91 432 773 73 334 342 287 .. Principal rescheduled 0 269 3,969 1,049 1,165 13,191 726 2,745 327 .. Official 0 120 2,696 975 1,109 11,162 582 2,563 291 .. Private 0 149 1,274 74 56 2,029 143 182 36 .. Interest rescheduled 0 63 1,724 506 488 9,052 448 1,558 172 .. Official 0 31 1,376 461 479 8,500 392 1,503 165 .. Private 0 31 348 46 9 552 56 55 7 .. Debt forgiven 3 194 1,602 303 4,521 632 1,256 3,748 1,336 .. Memo: interest forgiven 0 0 87 573 502 311 1,015 1,944 376 .. Debt stock reduction 0 0 1,262 350 820 445 2,310 985 1,019 .. of which debt buyback 0 0 0 102 325 137 7 452 0 .. 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks 1,092 11,659 19,806 7,806 -13,663 -3,617 -8,157 8,246 19,928 .. Net flows on debt 859 10,063 7,062 -1,293 -962 -523 -1,715 -290 2,736 3,629 Net change in interest arrears 6 321 2,245 2,051 -754 -5,294 644 -969 3,021 .. Interest capitalized 0 63 1,724 506 488 9,052 448 1,558 172 .. Debt forgiveness or reduction -3 -194 -2,864 -552 -5,015 -940 -3,559 -4,281 -2,354 .. Cross-currency valuation -33 -1,140 7,694 -70 -6,766 -6,712 -4,072 8,706 10,532 .. Residual 263 2,547 3,945 7,163 -653 799 97 3,522 5,821 .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.7 7.0 4.3 2.6 3.6 3.3 2.6 3.9 2.6 .. Maturity (years) 23.9 17.3 25.4 28.8 22.8 23.8 28.2 24.6 24.4 .. Grace period (years) 9.7 5.1 6.9 7.0 6.2 6.1 7.4 7.2 7.1 .. Grant element (%) 47.5 21.7 43.3 56.9 45.5 47.1 56.0 44.1 50.1 .. Official creditors Interest (%) 2.0 4.1 3.5 1.4 1.4 1.0 1.2 2.8 1.0 .. Maturity (years) 32.0 25.1 28.4 34.7 34.6 37.7 37.2 32.1 39.2 .. Grace period (years) 14.3 6.8 7.8 8.6 8.7 9.5 9.6 8.1 9.5 .. Grant element (%) 67.4 42.8 51.0 69.8 70.0 75.6 74.4 57.3 76.5 .. Private creditors Interest (%) 6.6 10.0 8.1 6.5 6.2 5.9 5.7 6.3 4.4 .. Maturity (years) 10.2 9.4 11.7 9.0 9.1 7.3 8.5 8.1 7.2 .. Grace period (years) 1.8 3.3 2.8 1.7 3.3 2.0 2.6 5.4 4.4 .. Grant element (%) 13.3 0.2 7.9 13.3 16.9 13.1 15.6 14.9 19.2 .. Memorandum items Commitments 1,888 13,279 11,505 6,682 6,844 8,042 9,790 11,854 7,426 .. Official creditors 1,194 6,717 9,453 5,149 3,685 4,374 6,722 8,148 4,001 .. Private creditors 694 6,563 2,052 1,533 3,159 3,668 3,068 3,706 3,425 .. 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 45.0 2004 2004 40.0 2003 2003 35.0 2002 2002 30.0 25.0 2001 2001 20.0 2000 2000 15.0 1999 1999 10.0 1998 1998 5.0 1997 1997 0.0 1997 1998 1999 2000 2001 2002 2003 2004 -5.0 0.0 5.0 10.0 15.0 20.0 -5.0 0.0 5.0 10.0 15.0 20.0 25.0 30.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 30 2/16/05 12:28 PM LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 19,189 99,806 341,580 382,209 401,634 397,023 379,770 368,853 391,315 424,472 Long-term debt (LDOD) 17,828 80,724 293,109 330,164 349,639 345,671 337,564 328,363 349,293 379,860 Public and publicly guaranteed 17,242 75,689 285,416 310,470 330,995 327,684 315,177 307,981 327,485 356,039 Private nonguaranteed 586 5,035 7,692 19,694 18,644 17,987 22,386 20,382 21,808 23,821 Use of IMF credit 179 5,324 10,823 10,840 11,090 10,936 10,034 9,933 10,808 11,149 Short-term debt .. 13,758 37,648 41,204 40,904 40,416 32,173 30,557 31,214 33,463 of which interest arrears on LDOD .. 1,727 12,968 20,750 23,247 22,540 15,723 16,183 15,361 18,178 Official creditors .. 1,615 8,651 17,884 19,956 19,501 13,178 13,600 12,627 15,470 Private creditors .. 112 4,316 2,866 3,291 3,039 2,546 2,584 2,734 2,708 Memo: principal arrears on LDOD .. 1,771 23,877 49,966 56,077 51,659 31,637 32,330 30,128 33,466 Official creditors .. 1,053 13,552 41,680 46,810 42,815 24,824 25,390 23,040 25,997 Private creditors .. 718 10,325 8,286 9,268 8,844 6,813 6,940 7,088 7,470 Memo: export credits .. 0 59,230 64,673 41,673 41,717 39,812 38,199 43,603 44,547 TOTAL DEBT FLOWS Disbursements 2,969 18,612 23,390 24,989 24,624 19,252 22,577 17,553 19,122 22,358 Long-term debt 2,941 15,796 20,861 23,957 23,336 17,762 21,735 16,081 17,425 21,295 IMF purchases 28 2,815 2,529 1,033 1,288 1,490 842 1,473 1,697 1,063 Principal repayments 1,239 4,574 11,020 18,397 16,738 16,593 17,371 16,325 19,983 24,694 Long-term debt 934 3,864 8,996 16,622 15,246 15,247 16,267 15,402 18,652 23,346 IMF repurchases 305 711 2,024 1,776 1,492 1,346 1,105 923 1,331 1,348 Net flows on debt 1,782 17,028 16,331 7,922 5,083 2,877 3,779 -847 617 -2,904 of which short-term debt .. 2,990 3,961 1,330 -2,803 219 -1,426 -2,075 1,479 -568 Interest payments (INT) .. 4,604 11,330 10,265 10,472 8,932 9,433 8,177 7,746 9,849 Long-term debt 486 3,180 8,948 8,876 9,256 7,941 8,313 7,482 7,043 9,371 IMF charges 0 153 452 196 141 145 134 117 203 67 Short-term debt .. 1,271 1,931 1,193 1,076 846 986 578 501 411 Net transfers on debt .. 12,424 5,000 -2,343 -5,389 -6,055 -5,654 -9,024 -7,129 -12,753 Total debt service paid (TDS) .. 9,178 22,350 28,662 27,210 25,526 26,805 24,502 27,730 34,543 Long-term debt 1,420 7,043 17,944 25,498 24,502 23,188 24,580 22,884 25,695 32,717 IMF repurchases and charges 305 864 2,476 1,972 1,633 1,492 1,238 1,041 1,534 1,415 Short-term debt (interest only) .. 1,271 1,931 1,193 1,076 846 986 578 501 411 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 3,118 19,202 28,122 35,655 32,998 31,196 31,891 32,369 31,671 49,417 Net flow of long-term debt (ex. IMF) 2,007 11,933 11,865 7,335 8,090 2,515 5,468 679 -1,227 -2,051 Foreign direct investment (net) 195 274 1,693 12,487 12,009 12,823 10,429 13,853 14,545 16,128 Portfolio equity flows 0 -1 7 2,938 -595 2,434 2,511 2,837 1,160 8,219 Grants (excluding technical coop.) 919 7,032 14,557 12,895 13,494 13,424 13,484 15,001 17,194 27,120 Memo: technical coop. grants 980 3,598 6,741 6,064 5,535 5,117 5,536 5,850 6,691 7,555 official net resource flows 2,412 13,618 24,202 17,129 18,805 18,563 16,792 18,890 17,699 27,875 private net resource flows 706 5,584 3,921 18,526 14,193 12,633 15,099 13,479 13,972 21,541 NET TRANSFERS 2,632 13,339 17,247 21,794 19,047 17,383 14,962 16,065 14,520 28,141 Interest on long-term debt 486 3,180 8,948 8,876 9,256 7,941 8,313 7,482 7,043 9,371 Profit remittances on FDI 0 2,683 1,928 4,985 4,695 5,871 8,616 8,822 10,109 11,905 Memo: official net transfers 2,063 12,290 19,400 12,397 14,223 14,241 12,606 15,058 14,011 24,347 private net transfers 569 1,049 -2,153 9,396 4,823 3,142 2,356 1,007 509 3,793 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 133,026 435,116 601,396 764,606 765,158 806,389 831,396 864,985 907,936 1,058,831 Exports of goods, serv. & inc. (XGS) 217 91,637 97,578 161,710 152,045 169,781 204,006 210,448 245,493 286,966 Worker remit. & comp. of employees 128 6,432 8,115 19,285 18,160 20,387 21,705 23,775 31,146 36,741 Imports of goods & services (MGS) 231 102,933 121,548 191,834 190,411 194,454 219,988 224,032 244,310 282,884 International reserves (RES) 3,431 29,458 17,365 55,721 57,135 65,063 76,353 88,774 118,489 160,844 Current account balance 0 -7,179 -12,806 -14,847 -25,824 -12,788 -7,697 -5,050 3,423 7,734 4. DEBT INDICATORS EDT / XGS (%) .. 108.9 350.1 236.4 264.2 233.8 186.2 175.3 159.4 147.9 EDT / GNI (%) .. 22.9 56.8 50.0 52.5 49.2 45.7 42.6 43.1 40.1 TDS / XGS (%) .. 10.0 22.9 17.7 17.9 15.0 13.1 11.6 11.3 12.0 INT / XGS (%) .. 5.0 11.6 6.3 6.9 5.3 4.6 3.9 3.2 3.4 INT / GNI (%) .. 1.1 1.9 1.3 1.4 1.1 1.1 0.9 0.9 0.9 RES / EDT (%) .. 29.5 5.1 14.6 14.2 16.4 20.1 24.1 30.3 37.9 RES / MGS (months) .. 3.4 1.7 3.5 3.6 4.0 4.2 4.8 5.8 6.8 Short-term / EDT (%) .. 13.8 11.0 10.8 10.2 10.2 8.5 8.3 8.0 7.9 Concessional / EDT (%) .. 45.4 45.7 45.1 46.8 48.6 48.1 49.3 51.9 56.0 Multilateral / EDT (%) .. 17.6 22.9 29.9 30.6 31.8 32.4 33.4 34.1 34.5 31 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 17,828 80,724 293,109 330,164 349,639 345,671 337,564 328,363 349,293 379,860 Public and publicly guaranteed 17,242 75,689 285,416 310,470 330,995 327,684 315,177 307,981 327,485 356,039 Official creditors 14,962 56,730 221,701 252,380 269,551 271,494 257,603 251,639 267,810 292,572 Multilateral 3,060 17,568 78,216 114,140 122,814 126,159 122,966 123,260 133,355 146,479 Concessional 1,588 12,371 52,722 85,243 93,117 96,718 96,336 98,062 111,355 125,365 Bilateral 11,902 39,162 143,485 138,240 146,737 145,335 134,636 128,380 134,454 146,093 Concessional 10,801 32,957 103,217 87,224 94,811 96,171 86,471 83,823 91,590 112,349 Private creditors 2,280 19,158 63,716 58,090 61,445 56,189 57,575 56,342 59,675 63,466 Bonds 340 719 2,952 7,844 11,839 11,426 15,873 15,724 14,816 11,933 Commercial banks 232 9,117 32,697 33,669 33,033 29,312 31,487 31,381 35,869 42,971 Other private 1,708 9,323 28,067 16,578 16,573 15,452 10,215 9,236 8,990 8,562 Private nonguaranteed 586 5,035 7,692 19,694 18,644 17,987 22,386 20,382 21,808 23,821 Bonds 0 0 0 4,097 3,941 3,169 1,810 1,563 1,433 996 Commercial banks and other 586 5,035 7,692 15,597 14,703 14,818 20,576 18,819 20,375 22,825 Memo: IBRD 1,414 3,785 18,754 16,850 16,499 15,769 14,146 13,262 11,122 10,089 IDA 1,568 9,954 37,922 62,504 67,517 69,190 69,450 71,721 80,940 91,587 DISBURSEMENTS 2,941 15,796 20,861 23,957 23,336 17,762 21,735 16,081 17,425 21,295 Public and publicly guaranteed 2,701 14,309 19,692 20,675 21,651 16,520 20,727 15,223 16,360 16,293 Official creditors 2,028 8,186 14,606 14,109 13,946 12,873 12,074 12,513 11,618 12,161 Multilateral 352 3,221 8,978 9,488 8,555 8,615 8,530 9,365 9,286 9,291 Concessional 158 2,182 5,130 6,496 6,418 6,094 6,104 7,213 7,557 6,958 Bilateral 1,676 4,964 5,628 4,622 5,391 4,258 3,544 3,148 2,333 2,871 Concessional 1,492 3,837 4,346 3,027 4,310 3,302 2,834 2,644 2,061 2,597 Private creditors 674 6,124 5,086 6,565 7,705 3,647 8,653 2,710 4,742 4,131 Bonds 6 52 427 1,100 4,234 0 5,512 0 0 1,348 Commercial banks 81 2,981 2,411 3,817 1,970 2,037 2,108 1,937 4,456 2,162 Other private 587 3,090 2,248 1,648 1,501 1,609 1,034 773 286 621 Private nonguaranteed 240 1,487 1,168 3,282 1,685 1,242 1,007 858 1,065 5,002 Bonds 0 0 0 1,371 300 0 0 0 240 206 Commercial banks and other 240 1,487 1,168 1,911 1,385 1,242 1,007 858 825 4,796 Memo: IBRD 185 585 2,422 1,339 852 1,226 1,006 1,026 731 896 IDA 143 1,431 3,588 4,400 4,262 4,046 4,298 5,170 5,567 5,215 PRINCIPAL REPAYMENTS 934 3,864 8,996 16,622 15,246 15,247 16,267 15,402 18,652 23,346 Public and publicly guaranteed 831 3,138 7,985 15,220 13,676 12,938 14,722 13,615 16,950 19,636 Official creditors 534 1,600 4,961 9,875 8,634 7,734 8,766 8,624 11,113 11,407 Multilateral 96 336 2,332 4,107 3,902 4,112 4,481 3,866 7,934 6,509 Concessional 0 57 551 1,084 1,212 1,291 1,356 1,375 1,513 1,596 Bilateral 438 1,263 2,629 5,769 4,732 3,622 4,284 4,757 3,180 4,897 Concessional 328 941 1,553 4,119 3,763 2,633 2,738 2,799 2,286 3,581 Private creditors 297 1,538 3,024 5,344 5,041 5,204 5,957 4,992 5,837 8,229 Bonds 26 32 311 32 317 511 46 111 816 4,301 Commercial banks 29 591 1,457 2,748 2,321 2,916 4,761 3,644 4,158 2,831 Other private 241 915 1,256 2,564 2,404 1,776 1,150 1,236 863 1,098 Private nonguaranteed 103 726 1,010 1,402 1,570 2,309 1,544 1,787 1,702 3,710 Bonds 0 0 0 150 149 765 35 90 370 570 Commercial banks and other 103 726 1,010 1,252 1,421 1,544 1,509 1,697 1,332 3,140 Memo: IBRD 91 205 1,223 1,854 1,778 1,814 1,780 1,413 3,745 2,563 IDA 0 24 207 534 611 728 783 878 991 1,024 NET FLOWS ON DEBT 2,007 11,933 11,865 7,335 8,090 2,515 5,468 679 -1,227 -2,051 Public and publicly guaranteed 1,870 11,171 11,707 5,455 7,976 3,582 6,005 1,608 -590 -3,344 Official creditors 1,494 6,586 9,645 4,234 5,312 5,138 3,308 3,889 505 755 Multilateral 256 2,885 6,645 5,381 4,652 4,503 4,049 5,499 1,352 2,782 Concessional 157 2,125 4,579 5,412 5,206 4,803 4,748 5,838 6,045 5,361 Bilateral 1,238 3,701 3,000 -1,147 659 636 -741 -1,610 -847 -2,027 Concessional 1,165 2,896 2,793 -1,092 547 669 96 -154 -225 -984 Private creditors 376 4,586 2,062 1,221 2,664 -1,557 2,697 -2,282 -1,095 -4,098 Bonds -20 21 116 1,068 3,917 -511 5,466 -111 -816 -2,952 Commercial banks 51 2,390 954 1,069 -350 -879 -2,654 -1,707 298 -669 Other private 345 2,175 992 -916 -903 -167 -116 -463 -577 -477 Private nonguaranteed 137 761 158 1,880 115 -1,067 -537 -929 -637 1,292 Bonds 0 0 0 1,221 151 -765 -35 -90 -130 -364 Commercial banks and other 137 761 158 659 -36 -302 -502 -839 -507 1,656 Memo: IBRD 94 380 1,199 -515 -926 -588 -774 -387 -3,014 -1,667 IDA 143 1,407 3,381 3,866 3,651 3,318 3,515 4,292 4,576 4,190 32 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 486 3,180 8,948 8,876 9,256 7,941 8,313 7,482 7,043 9,371 Public and publicly guaranteed 455 2,678 8,407 8,229 8,349 6,907 7,095 6,688 6,512 8,562 Official creditors 349 1,328 4,801 4,732 4,582 4,321 4,186 3,832 3,689 3,528 Multilateral 91 489 2,140 2,692 2,473 2,538 2,302 1,996 2,183 1,763 Concessional 11 95 377 660 688 743 729 668 848 843 Bilateral 258 839 2,661 2,040 2,109 1,783 1,884 1,836 1,506 1,765 Concessional 203 628 1,489 1,374 1,396 1,204 1,030 1,008 1,158 1,298 Private creditors 106 1,350 3,606 3,497 3,768 2,586 2,910 2,857 2,823 5,035 Bonds 11 20 196 252 411 587 515 563 546 1,542 Commercial banks 14 837 2,437 2,585 2,787 1,472 2,080 2,037 2,095 3,347 Other private 81 493 973 660 569 527 314 257 182 146 Private nonguaranteed 30 502 541 648 907 1,034 1,218 793 530 808 Bonds 0 0 0 170 281 259 240 228 178 51 Commercial banks and other 30 502 541 478 626 775 978 565 353 758 Memo: IBRD 78 323 1,373 1,213 1,075 1,018 851 733 689 417 IDA 10 66 253 424 440 473 457 456 561 548 NET TRANSFERS ON DEBT 1,521 8,753 2,917 -1,541 -1,166 -5,426 -2,845 -6,803 -8,270 -11,422 Public and publicly guaranteed 1,415 8,493 3,300 -2,774 -374 -3,326 -1,090 -5,081 -7,102 -11,906 Official creditors 1,144 5,257 4,844 -498 730 817 -878 57 -3,184 -2,773 Multilateral 165 2,395 4,505 2,689 2,180 1,965 1,747 3,503 -831 1,019 Concessional 147 2,030 4,202 4,752 4,518 4,060 4,019 5,171 5,197 4,519 Bilateral 979 2,862 338 -3,187 -1,450 -1,148 -2,624 -3,446 -2,353 -3,792 Concessional 962 2,268 1,304 -2,466 -849 -535 -933 -1,162 -1,383 -2,282 Private creditors 270 3,236 -1,544 -2,276 -1,103 -4,143 -213 -5,138 -3,919 -9,133 Bonds -31 1 -80 816 3,506 -1,098 4,951 -674 -1,362 -4,494 Commercial banks 37 1,553 -1,483 -1,517 -3,137 -2,351 -4,734 -3,744 -1,797 -4,015 Other private 264 1,682 19 -1,576 -1,473 -694 -430 -720 -759 -623 Private nonguaranteed 107 260 -383 1,232 -792 -2,100 -1,755 -1,722 -1,168 484 Bonds 0 0 0 1,051 -130 -1,024 -275 -318 -308 -415 Commercial banks and other 107 260 -383 181 -662 -1,077 -1,480 -1,404 -860 899 Memo: IBRD 16 58 -174 -1,728 -2,001 -1,606 -1,625 -1,120 -3,704 -2,084 IDA 133 1,342 3,128 3,442 3,211 2,846 3,058 3,836 4,015 3,642 DEBT SERVICE (LTDS) 1,420 7,043 17,944 25,498 24,502 23,188 24,580 22,884 25,695 32,717 Public and publicly guaranteed 1,287 5,816 16,392 23,448 22,025 19,846 21,818 20,304 23,463 28,199 Official creditors 883 2,928 9,763 14,607 13,216 12,056 12,952 12,456 14,802 14,934 Multilateral 187 826 4,473 6,798 6,375 6,650 6,784 5,862 10,117 8,272 Concessional 11 152 928 1,744 1,900 2,034 2,085 2,043 2,360 2,439 Bilateral 696 2,102 5,290 7,809 6,841 5,406 6,168 6,594 4,685 6,662 Concessional 531 1,568 3,042 5,493 5,159 3,837 3,767 3,807 3,444 4,879 Private creditors 403 2,888 6,630 8,841 8,809 7,790 8,866 7,848 8,660 13,264 Bonds 37 51 507 284 728 1,098 561 674 1,362 5,843 Commercial banks 44 1,428 3,894 5,334 5,107 4,388 6,841 5,682 6,253 6,177 Other private 323 1,408 2,229 3,224 2,973 2,303 1,464 1,493 1,045 1,244 Private nonguaranteed 133 1,228 1,551 2,049 2,477 3,343 2,762 2,580 2,233 4,518 Bonds 0 0 0 320 430 1,024 275 318 548 621 Commercial banks and other 133 1,228 1,551 1,729 2,047 2,319 2,487 2,262 1,685 3,897 Memo: IBRD 169 528 2,596 3,067 2,853 2,832 2,631 2,146 4,435 2,980 IDA 11 90 460 958 1,051 1,201 1,240 1,334 1,552 1,573 UNDISBURSED DEBT 6,524 38,190 79,522 68,688 68,134 62,816 51,767 52,772 55,571 56,112 Official creditors 5,665 30,068 70,904 60,469 56,069 51,881 48,705 49,728 53,552 54,747 Private creditors 859 8,121 8,618 8,219 12,065 10,935 3,062 3,045 2,019 1,366 Memorandum items Concessional LDOD 12,389 45,329 155,939 172,467 187,927 192,889 182,807 181,885 202,945 237,713 Variable rate LDOD 632 13,260 47,197 68,927 68,384 65,708 66,950 60,508 60,659 65,154 Public sector LDOD 16,750 75,618 287,169 310,227 330,377 326,822 314,527 307,591 327,230 355,904 Private sector LDOD 1,078 5,305 5,940 19,937 19,262 18,849 23,037 20,771 22,063 23,956 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 9.9 10.2 13.7 Deutsche mark 8.4 7.5 5.6 4.5 4.6 4.0 3.1 .. .. .. French franc 5.5 8.0 7.2 6.0 5.9 5.1 4.3 .. .. .. Japanese yen 3.5 7.4 7.3 9.0 10.2 12.0 9.7 9.2 10.0 11.3 Pound sterling 21.4 10.7 4.5 3.4 3.1 3.0 2.2 2.0 1.9 3.0 Swiss franc 0.4 1.1 1.2 0.9 0.9 0.7 0.7 0.7 0.8 1.0 U.S.dollars 35.6 38.9 41.7 47.4 47.8 49.7 58.4 59.9 60.2 55.4 Multiple currency 9.7 8.6 10.8 12.4 11.7 11.7 11.0 10.1 9.0 7.8 Special drawing rights 0.0 0.5 1.6 1.4 1.3 1.3 1.3 1.3 1.4 1.4 All other currencies 15.5 18.0 20.9 15.3 14.7 12.4 9.2 6.9 6.6 6.4 33 LOW-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled 0 1,202 6,254 8,796 3,459 6,860 23,663 16,980 6,391 889 Debt stock rescheduled 0 0 91 891 669 1,388 121 11,978 350 291 Principal rescheduled 0 269 3,879 2,952 1,100 3,414 13,729 2,322 2,820 396 Official 0 120 2,762 1,917 1,020 2,642 11,589 1,997 2,625 354 Private 0 149 1,117 1,035 80 772 2,139 326 195 42 Interest rescheduled 0 63 1,676 2,543 545 1,175 9,061 557 1,758 210 Official 0 31 1,378 1,279 497 1,044 8,468 469 1,700 203 Private 0 31 298 1,264 48 132 593 88 58 7 Debt forgiven 3 201 1,594 3,055 350 4,695 675 1,357 4,038 1,630 Memo: interest forgiven 0 0 87 588 582 511 1,950 1,442 2,115 548 Debt stock reduction 0 0 1,262 5,177 350 859 9,203 2,469 985 1,019 of which debt buyback 0 0 0 200 102 325 137 33 452 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks 1,429 18,361 37,176 -14,421 19,425 -4,611 -17,252 -10,917 22,462 33,157 Net flows on debt 1,782 17,028 16,331 7,922 5,083 2,877 3,779 -847 617 -2,904 Net change in interest arrears 4 285 3,062 -3,517 2,497 -707 -6,817 460 -822 2,817 Interest capitalized 0 63 1,676 2,543 545 1,175 9,061 557 1,758 210 Debt forgiveness or reduction -3 -201 -2,856 -8,033 -598 -5,228 -9,742 -3,792 -4,571 -2,648 Cross-currency valuation -372 -2,225 11,271 -22,997 533 -4,430 -15,942 -10,114 17,651 21,678 Residual 18 3,411 7,691 9,661 11,365 1,702 2,408 2,819 7,830 14,006 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.1 5.9 4.6 4.3 3.0 3.0 3.6 2.4 2.5 1.7 Maturity (years) 28.1 23.5 24.3 21.9 19.9 26.6 19.9 28.0 28.2 27.1 Grace period (years) 9.8 6.1 7.2 6.1 6.5 6.9 6.4 7.3 7.6 6.9 Grant element (%) 49.1 32.5 40.8 39.9 43.8 52.3 41.1 56.9 56.6 58.7 Official creditors Interest (%) 2.1 3.1 3.6 3.0 2.4 2.3 3.0 2.0 2.4 1.3 Maturity (years) 33.2 31.8 28.1 29.7 31.5 30.9 30.4 31.5 30.4 32.1 Grace period (years) 12.0 7.7 7.7 8.0 8.2 8.0 8.0 8.3 8.1 8.2 Grant element (%) 59.9 51.5 49.9 55.9 60.5 60.8 56.3 63.9 60.1 68.7 Private creditors Interest (%) 6.5 10.6 7.2 6.7 3.7 5.7 4.4 4.9 4.1 3.6 Maturity (years) 10.8 9.8 13.8 8.1 6.6 8.0 5.2 7.3 4.8 5.7 Grace period (years) 2.3 3.3 5.7 2.7 4.6 2.0 4.2 1.5 2.8 1.2 Grant element (%) 13.1 1.2 15.6 11.3 24.7 15.8 19.8 15.8 18.2 16.1 Memorandum items Commitments 4,102 22,476 25,551 23,279 25,433 13,585 20,849 21,197 19,364 13,061 Official creditors 3,156 13,992 18,774 14,944 13,579 11,020 12,196 18,106 17,734 10,586 Private creditors 946 8,484 6,777 8,335 11,855 2,564 8,653 3,090 1,630 2,475 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 60.0 2003 2003 50.0 2002 2002 2001 2001 40.0 2000 2000 30.0 1999 1999 20.0 1998 1998 1997 1997 10.0 1996 1996 0.0 1996 1997 1998 1999 2000 2001 2002 2003 -10.0 0.0 10.0 20.0 30.0 -10.0 0.0 10.0 20.0 30.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 34 2/16/05 12:30 PM MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 50,995 441,117 995,453 1,727,450 1,921,279 1,949,615 1,902,780 1,891,664 1,945,157 2,129,666 Long-term debt (LDOD) 42,821 326,413 806,118 1,332,336 1,544,320 1,594,180 1,569,190 1,534,941 1,570,547 1,665,355 Public and publicly guaranteed 28,206 263,192 753,803 998,857 1,064,002 1,077,485 1,048,255 1,017,684 1,047,945 1,094,050 Private nonguaranteed 14,616 63,221 52,315 333,479 480,318 516,696 520,935 517,258 522,602 571,305 Use of IMF credit 577 6,240 23,828 48,894 65,852 61,830 48,414 65,349 85,001 95,716 Short-term debt .. 108,465 165,507 346,220 311,107 293,605 285,176 291,374 289,609 368,595 of which interest arrears on LDOD .. 751 39,773 9,256 12,678 17,555 17,116 19,229 21,316 29,569 Official creditors .. 416 10,987 6,083 8,134 9,531 10,332 11,662 7,652 7,379 Private creditors .. 335 28,786 3,173 4,544 8,024 6,783 7,567 13,664 22,190 Memo: principal arrears on LDOD .. 777 35,901 25,405 29,306 31,448 31,774 29,372 33,328 48,802 Official creditors .. 193 13,705 17,293 17,953 21,382 22,161 21,623 17,806 18,571 Private creditors .. 584 22,196 8,112 11,353 10,066 9,614 7,749 15,522 30,231 Memo: export credits .. 0 215,137 282,485 154,387 146,054 137,458 133,661 143,870 156,176 TOTAL DEBT FLOWS Disbursements 10,000 89,576 103,610 264,078 277,906 254,567 235,133 258,080 264,001 307,212 Long-term debt 9,697 87,001 97,897 253,196 258,006 241,837 225,861 228,192 231,270 278,654 IMF purchases 303 2,576 5,713 10,881 19,900 12,730 9,272 29,888 32,730 28,558 Principal repayments 5,365 38,280 72,951 172,895 166,467 221,742 238,649 238,866 257,455 293,900 Long-term debt 4,939 37,022 66,800 166,123 160,860 206,679 218,988 227,891 238,373 268,005 IMF repurchases 425 1,258 6,151 6,772 5,606 15,063 19,661 10,974 19,082 25,895 Net flows on debt 4,635 77,793 39,902 99,002 49,786 12,526 -9,972 -2,604 7,863 62,855 of which short-term debt .. 26,497 9,243 7,820 -61,653 -20,300 -6,456 -21,818 1,317 49,542 Interest payments (INT) .. 38,858 52,631 92,006 99,185 104,952 111,091 102,150 87,401 91,332 Long-term debt 1,805 27,119 42,419 72,857 80,967 87,257 92,276 87,850 75,929 79,109 IMF charges 0 302 2,048 2,011 2,361 2,698 2,747 2,553 2,768 2,357 Short-term debt .. 11,438 8,163 17,138 15,856 14,997 16,068 11,747 8,704 9,865 Net transfers on debt .. 38,935 -12,729 6,997 -49,398 -92,426 -121,064 -104,754 -79,538 -28,477 Total debt service paid (TDS) .. 77,138 125,582 264,901 265,651 326,693 349,741 341,016 344,856 385,231 Long-term debt 6,744 64,140 109,220 238,980 241,827 293,936 311,264 315,741 314,302 347,114 IMF repurchases and charges 425 1,560 8,199 8,783 7,968 17,761 22,409 13,528 21,850 28,253 Short-term debt (interest only) .. 11,438 8,163 17,138 15,856 14,997 16,068 11,747 8,704 9,865 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7,546 65,005 68,040 274,663 277,017 230,134 187,718 177,372 151,969 179,128 Net flow of long-term debt (ex. IMF) 4,758 49,979 31,097 87,073 97,146 35,159 6,872 300 -7,103 10,649 Foreign direct investment (net) 1,536 9,314 20,380 155,564 159,470 169,606 155,761 160,980 139,407 135,648 Portfolio equity flows -2 0 3,383 19,630 7,174 10,275 9,863 3,181 4,689 16,593 Grants (excluding technical coop.) 920 5,789 13,181 12,396 13,228 15,094 15,222 12,911 14,976 16,238 Memo: technical coop. grants 723 2,640 7,048 9,217 10,315 11,043 9,738 10,525 12,127 13,042 official net resource flows 2,717 19,689 29,938 17,732 28,195 26,067 16,813 16,562 5,658 1,225 private net resource flows 4,829 45,316 38,103 256,931 248,823 204,067 170,905 160,810 146,311 177,903 NET TRANSFERS 5,076 29,589 10,661 151,683 142,065 88,597 26,861 19,901 6,746 10,572 Interest on long-term debt 1,805 27,119 42,419 72,857 80,967 87,257 92,276 87,850 75,929 79,109 Profit remittances on FDI 1,022 9,302 14,960 50,122 53,985 54,280 68,581 69,621 69,293 89,447 Memo: official net transfers 2,207 15,672 16,378 -4,689 6,671 3,471 -6,042 -7,723 -14,853 -19,064 private net transfers 2,868 13,917 -5,717 156,372 135,394 85,126 32,903 27,624 21,600 29,635 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 527,297 2,097,990 3,100,750 4,937,936 4,675,144 4,440,661 4,841,427 4,905,759 4,969,914 5,567,436 Exports of goods, serv. & inc. (XGS) 8,324 292,650 651,004 1,401,380 1,354,650 1,402,133 1,678,807 1,666,623 1,797,329 2,159,250 Worker remit. & comp. of employees 281 10,635 23,114 51,643 49,887 51,472 53,932 60,003 67,068 79,119 Imports of goods & services (MGS) 10,111 339,886 654,911 1,482,806 1,431,053 1,407,962 1,652,225 1,666,455 1,753,445 2,084,852 International reserves (RES) 10,684 136,373 168,345 560,267 576,330 601,503 632,014 702,534 855,833 1,116,721 Current account balance -1,830 -42,271 1,135 -80,454 -70,517 1,507 32,621 9,924 56,405 86,322 4. DEBT INDICATORS EDT / XGS (%) .. 150.7 152.9 123.3 141.8 139.0 113.3 113.5 108.2 98.6 EDT / GNI (%) .. 21.0 32.1 35.0 41.1 43.9 39.3 38.6 39.1 38.3 TDS / XGS (%) .. 26.4 19.3 18.9 19.6 23.3 20.8 20.5 19.2 17.8 INT / XGS (%) .. 13.3 8.1 6.6 7.3 7.5 6.6 6.1 4.9 4.2 INT / GNI (%) .. 1.9 1.7 1.9 2.1 2.4 2.3 2.1 1.8 1.6 RES / EDT (%) .. 30.9 16.9 32.4 30.0 30.9 33.2 37.1 44.0 52.4 RES / MGS (months) .. 4.8 3.1 4.5 4.8 5.1 4.6 5.1 5.9 6.4 Short-term / EDT (%) .. 24.6 16.6 20.0 16.2 15.1 15.0 15.4 14.9 17.3 Concessional / EDT (%) .. 10.1 12.0 10.1 10.2 10.8 10.4 9.9 10.4 10.4 Multilateral / EDT (%) .. 6.5 12.6 9.8 10.1 10.6 11.1 11.4 11.6 11.0 35 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 42,821 326,413 806,118 1,332,336 1,544,320 1,594,180 1,569,190 1,534,941 1,570,547 1,665,355 Public and publicly guaranteed 28,206 263,192 753,803 998,857 1,064,002 1,077,485 1,048,255 1,017,684 1,047,945 1,094,050 Official creditors 18,082 93,152 329,443 479,177 520,294 537,519 523,446 499,998 511,099 533,913 Multilateral 4,222 28,693 125,169 168,735 194,511 207,493 210,299 215,280 225,292 234,967 Concessional 457 5,635 15,776 28,579 31,250 33,168 32,932 32,988 36,260 41,664 Bilateral 13,859 64,458 204,274 310,442 325,783 330,026 313,147 284,718 285,806 298,945 Concessional 11,331 38,791 103,772 145,622 164,995 176,714 164,119 153,864 165,897 180,207 Private creditors 10,124 170,040 424,360 519,680 543,708 539,966 524,809 517,685 536,847 560,138 Bonds 1,470 12,093 101,326 280,866 311,201 330,547 356,177 356,622 381,580 414,839 Commercial banks 3,391 112,992 216,261 156,735 164,627 141,135 108,231 104,542 103,798 98,758 Other private 5,262 44,954 106,773 82,079 67,879 68,283 60,400 56,522 51,469 46,541 Private nonguaranteed 14,616 63,221 52,315 333,479 480,318 516,696 520,935 517,258 522,602 571,305 Bonds 0 0 347 83,716 91,856 96,085 94,991 93,785 93,697 107,928 Commercial banks and other 14,616 63,221 51,968 249,764 388,462 420,610 425,945 423,472 428,905 463,377 Memo: IBRD 2,963 16,647 73,560 84,672 91,956 95,560 97,999 99,268 100,181 98,947 IDA 238 1,821 7,083 14,895 16,571 17,414 17,393 17,499 19,674 22,255 DISBURSEMENTS 9,697 87,001 97,897 253,196 258,006 241,837 225,861 228,192 231,270 278,654 Public and publicly guaranteed 5,811 67,585 81,790 141,754 137,016 126,239 117,110 104,312 96,426 107,957 Official creditors 2,811 19,291 34,831 46,441 49,684 47,722 41,902 38,827 34,659 37,676 Multilateral 841 5,753 18,332 26,276 33,218 28,662 26,428 24,819 22,994 28,878 Concessional 97 652 1,696 2,747 2,559 2,782 1,973 2,202 2,328 3,872 Bilateral 1,970 13,538 16,499 20,166 16,466 19,060 15,474 14,008 11,665 8,798 Concessional 1,407 6,739 9,023 7,526 9,263 13,715 10,325 9,671 6,888 6,836 Private creditors 3,000 48,294 46,959 95,313 87,332 78,517 75,208 65,486 61,767 70,282 Bonds 143 1,601 4,749 51,962 48,137 50,988 50,607 44,751 40,431 50,169 Commercial banks 1,287 29,895 13,745 27,023 30,061 16,914 17,399 15,088 16,764 16,086 Other private 1,570 16,798 28,465 16,328 9,134 10,615 7,202 5,647 4,572 4,026 Private nonguaranteed 3,886 19,415 16,107 111,442 120,990 115,599 108,750 123,879 134,844 170,697 Bonds 0 0 291 27,330 19,563 13,763 11,757 11,010 11,351 24,013 Commercial banks and other 3,886 19,415 15,816 84,112 101,427 101,836 96,993 112,870 123,493 146,684 Memo: IBRD 486 3,638 11,016 13,160 13,524 12,856 12,424 11,280 9,557 10,515 IDA 29 155 757 1,537 1,294 1,350 921 921 1,201 1,164 PRINCIPAL REPAYMENTS 4,939 37,022 66,800 166,123 160,860 206,679 218,988 227,891 238,373 268,005 Public and publicly guaranteed 2,595 26,061 60,527 108,611 90,575 97,360 107,419 106,502 105,314 123,978 Official creditors 1,014 5,392 18,074 41,105 34,717 36,748 40,311 35,175 43,977 52,689 Multilateral 290 1,222 9,565 15,252 14,481 14,846 18,676 15,003 22,913 29,889 Concessional 29 48 348 746 767 775 1,078 1,084 990 1,206 Bilateral 724 4,170 8,509 25,853 20,236 21,903 21,634 20,172 21,063 22,800 Concessional 340 1,533 3,268 6,186 7,765 9,384 9,806 7,928 8,341 9,606 Private creditors 1,581 20,669 42,453 67,506 55,859 60,611 67,108 71,326 61,338 71,289 Bonds 117 482 4,075 33,913 22,531 22,690 35,276 34,393 27,523 34,432 Commercial banks 655 12,762 21,229 21,034 19,941 26,003 20,471 25,197 23,352 27,004 Other private 808 7,425 17,150 12,558 13,387 11,919 11,361 11,736 10,463 9,853 Private nonguaranteed 2,345 10,961 6,273 57,512 70,285 109,319 111,569 121,390 133,059 144,027 Bonds 0 0 0 9,455 9,517 10,963 15,025 10,215 12,146 9,818 Commercial banks and other 2,345 10,961 6,273 48,057 60,768 98,356 96,544 111,175 120,913 134,209 Memo: IBRD 157 791 6,716 8,760 8,708 8,020 8,048 8,393 12,277 15,065 IDA 0 6 41 112 121 141 165 206 252 298 NET FLOWS ON DEBT 4,758 49,979 31,097 87,073 97,146 35,159 6,872 300 -7,103 10,649 Public and publicly guaranteed 3,216 41,524 21,262 33,143 46,440 28,879 9,692 -2,189 -8,888 -16,020 Official creditors 1,797 13,899 16,757 5,336 14,967 10,973 1,592 3,651 -9,318 -15,013 Multilateral 551 4,531 8,767 11,024 18,737 13,816 7,751 9,816 81 -1,011 Concessional 68 603 1,348 2,001 1,792 2,007 895 1,118 1,338 2,666 Bilateral 1,246 9,368 7,990 -5,687 -3,771 -2,843 -6,160 -6,165 -9,398 -14,002 Concessional 1,066 5,206 5,755 1,340 1,498 4,331 519 1,743 -1,453 -2,770 Private creditors 1,420 27,625 4,506 27,807 31,474 17,906 8,100 -5,841 430 -1,007 Bonds 26 1,119 675 18,049 25,606 28,298 15,331 10,357 12,908 15,738 Commercial banks 631 17,133 -7,484 5,989 10,120 -9,089 -3,072 -10,109 -6,588 -10,918 Other private 762 9,373 11,315 3,769 -4,253 -1,303 -4,159 -6,089 -5,891 -5,827 Private nonguaranteed 1,541 8,454 9,834 53,930 50,705 6,280 -2,819 2,490 1,785 26,670 Bonds 0 0 291 17,876 10,046 2,800 -3,267 795 -795 14,195 Commercial banks and other 1,541 8,454 9,543 36,054 40,659 3,480 448 1,695 2,580 12,475 Memo: IBRD 329 2,847 4,300 4,400 4,816 4,836 4,377 2,886 -2,720 -4,550 IDA 29 149 716 1,425 1,173 1,209 756 715 949 865 36 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 1,805 27,119 42,419 72,857 80,967 87,257 92,276 87,850 75,929 79,109 Public and publicly guaranteed 1,082 20,935 38,383 54,045 53,240 56,108 60,427 57,857 51,256 52,789 Official creditors 509 4,016 13,560 22,421 21,524 22,596 22,855 24,285 20,511 20,288 Multilateral 217 1,866 8,364 9,947 10,202 12,361 13,290 13,288 11,498 10,464 Concessional 9 69 244 437 455 462 475 514 489 571 Bilateral 292 2,150 5,196 12,473 11,322 10,235 9,565 10,997 9,013 9,825 Concessional 182 893 1,836 3,988 4,797 4,693 4,228 4,018 3,680 4,482 Private creditors 573 16,919 24,823 31,625 31,717 33,512 37,571 33,572 30,744 32,501 Bonds 87 916 4,180 18,223 19,265 22,590 26,276 22,679 22,154 24,338 Commercial banks 239 12,841 15,002 8,301 7,952 7,150 7,819 7,658 6,407 5,971 Other private 247 3,162 5,641 5,101 4,500 3,772 3,477 3,235 2,183 2,192 Private nonguaranteed 723 6,184 4,036 18,812 27,726 31,149 31,850 29,993 24,673 26,320 Bonds 0 0 3 5,284 6,637 7,350 7,801 7,753 6,735 7,976 Commercial banks and other 723 6,184 4,033 13,528 21,089 23,799 24,048 22,240 17,938 18,344 Memo: IBRD 165 1,347 5,495 5,507 5,537 6,249 6,831 6,736 5,702 4,716 IDA 2 13 48 107 110 115 121 121 134 149 NET TRANSFERS ON DEBT 2,953 22,860 -11,323 14,216 16,179 -52,098 -85,404 -87,550 -83,032 -68,460 Public and publicly guaranteed 2,135 20,589 -17,121 -20,902 -6,800 -27,229 -50,735 -60,047 -60,144 -68,810 Official creditors 1,288 9,883 3,197 -17,084 -6,557 -11,623 -21,264 -20,633 -29,829 -35,302 Multilateral 334 2,665 402 1,076 8,536 1,455 -5,539 -3,471 -11,418 -11,475 Concessional 59 534 1,104 1,564 1,337 1,545 420 604 849 2,095 Bilateral 953 7,218 2,794 -18,161 -15,093 -13,077 -15,725 -17,162 -18,411 -23,827 Concessional 884 4,314 3,919 -2,648 -3,299 -362 -3,709 -2,275 -5,132 -7,252 Private creditors 847 10,706 -20,318 -3,818 -243 -15,606 -29,471 -39,413 -30,315 -33,508 Bonds -61 203 -3,505 -174 6,341 5,708 -10,945 -12,321 -9,246 -8,600 Commercial banks 393 4,293 -22,486 -2,312 2,169 -16,239 -10,891 -17,768 -12,995 -16,889 Other private 515 6,210 5,674 -1,332 -8,752 -5,075 -7,636 -9,324 -8,074 -8,018 Private nonguaranteed 819 2,271 5,798 35,118 22,979 -24,869 -34,669 -27,503 -22,888 349 Bonds 0 0 288 12,591 3,409 -4,550 -11,069 -6,958 -7,530 6,219 Commercial banks and other 819 2,271 5,510 22,526 19,570 -20,320 -23,600 -20,545 -15,358 -5,869 Memo: IBRD 165 1,500 -1,195 -1,107 -721 -1,413 -2,454 -3,849 -8,422 -9,266 IDA 28 136 668 1,318 1,063 1,094 635 594 815 716 DEBT SERVICE (LTDS) 6,744 64,140 109,220 238,980 241,827 293,936 311,264 315,741 314,302 347,114 Public and publicly guaranteed 3,676 46,996 98,911 162,656 143,816 153,467 167,846 164,359 156,570 176,767 Official creditors 1,523 9,408 31,634 63,526 56,241 59,344 63,166 59,460 64,488 72,977 Multilateral 507 3,089 17,930 25,199 24,682 27,207 31,967 28,290 34,412 40,352 Concessional 39 117 592 1,183 1,223 1,237 1,553 1,599 1,479 1,777 Bilateral 1,016 6,319 13,705 38,326 31,558 32,137 31,199 31,170 30,076 32,625 Concessional 523 2,426 5,104 10,174 12,563 14,077 14,035 11,946 12,021 14,088 Private creditors 2,153 37,588 67,277 99,130 87,575 94,123 104,680 104,899 92,082 103,790 Bonds 204 1,398 8,255 52,136 41,796 45,279 61,552 57,072 49,677 58,769 Commercial banks 894 25,603 36,231 29,335 27,893 33,153 28,290 32,856 29,759 32,976 Other private 1,055 10,588 22,791 17,659 17,886 15,691 14,838 14,971 12,646 12,045 Private nonguaranteed 3,067 17,145 10,309 76,324 98,011 140,468 143,419 151,383 157,732 170,347 Bonds 0 0 3 14,739 16,154 18,313 22,826 17,968 18,881 17,794 Commercial banks and other 3,067 17,145 10,306 61,585 81,857 122,155 120,593 133,414 138,851 152,553 Memo: IBRD 322 2,138 12,211 14,267 14,245 14,269 14,878 15,129 17,979 19,781 IDA 2 19 89 219 231 256 287 327 386 447 UNDISBURSED DEBT 10,256 98,520 138,351 182,771 212,189 240,758 183,924 159,729 155,940 156,921 Official creditors 7,502 58,001 91,636 129,112 159,619 191,553 133,605 119,097 117,097 108,789 Private creditors 2,753 40,520 46,715 53,658 52,570 49,205 50,318 40,632 38,843 48,132 Memorandum items Concessional LDOD 11,789 44,426 119,548 174,201 196,245 209,882 197,051 186,852 202,156 221,871 Variable rate LDOD 15,332 171,587 384,150 748,106 911,399 922,646 872,876 849,488 855,678 901,719 Public sector LDOD 27,422 256,424 748,719 993,491 1,056,140 1,069,321 1,041,560 1,011,897 1,041,023 1,086,166 Private sector LDOD 15,400 69,989 57,399 338,845 488,180 524,859 527,630 523,044 529,524 579,189 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 15.1 17.2 19.6 Deutsche mark 8.7 7.2 10.4 9.1 9.5 7.6 6.6 .. .. .. French franc 5.2 5.6 5.5 3.5 3.5 2.8 2.5 .. .. .. Japanese yen 1.3 6.8 12.0 11.3 11.5 12.9 12.1 10.7 10.9 10.7 Pound sterling 5.1 1.7 1.6 1.0 0.9 0.8 0.6 0.6 0.6 0.6 Swiss franc 1.5 1.8 2.3 0.5 0.4 0.3 0.3 0.3 0.4 0.4 U.S.dollars 52.4 57.6 44.4 57.7 61.3 61.5 63.4 65.5 64.0 62.4 Multiple currency 13.2 12.5 17.1 12.0 7.4 7.3 6.6 6.1 5.4 4.7 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 12.6 6.8 6.6 4.8 5.4 6.6 7.7 1.5 1.5 1.5 37 MIDDLE-INCOME COUNTRIES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled 117 2,123 73,074 40,297 15,096 24,239 37,184 6,701 12,578 9,531 Debt stock rescheduled 0 1 61,758 435 7,448 5,962 23,071 318 1,969 3,076 Principal rescheduled 0 124 6,398 32,395 5,312 10,201 7,069 6,965 6,297 5,196 Official 0 17 3,064 4,930 3,488 7,141 5,535 4,695 5,526 4,609 Private 0 107 3,334 27,465 1,824 3,061 1,535 2,270 771 587 Interest rescheduled 0 8 4,122 6,496 1,039 5,797 4,926 543 2,163 596 Official 0 7 3,199 1,184 707 5,253 2,725 415 2,006 479 Private 0 1 923 5,313 333 544 2,201 128 157 117 Debt forgiven 7 75 11,035 291 255 132 262 297 963 216 Memo: interest forgiven 0 0 2,803 18 16 21 13 42 115 119 Debt stock reduction 0 0 24,883 13,652 3,651 7,033 32,393 16,377 4,913 65 of which debt buyback 0 0 4,359 9,850 2,906 5,020 16,879 13,606 3,820 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks 21,033 95,177 61,918 79,108 193,829 28,337 -46,835 -11,117 53,493 184,509 Net flows on debt 4,635 77,793 39,902 99,002 49,786 12,526 -9,972 -2,604 7,863 62,855 Net change in interest arrears 11 338 12,501 -5,424 3,422 4,877 -440 2,113 2,088 8,253 Interest capitalized 0 8 4,122 6,496 1,039 5,797 4,926 543 2,163 596 Debt forgiveness or reduction -7 -75 -31,558 -4,093 -1,000 -2,144 -15,776 -3,067 -2,056 -281 Cross-currency valuation -50 -2,427 35,324 -54,803 28,530 -13,940 -37,142 -30,834 53,530 65,763 Residual 16,443 19,539 1,626 37,932 112,052 21,220 11,569 22,731 -7,805 48,161 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.0 10.0 7.6 6.9 7.1 6.7 7.5 6.0 5.6 5.1 Maturity (years) 17.3 13.7 15.0 12.9 11.7 12.4 12.7 12.2 23.3 11.6 Grace period (years) 4.7 4.4 5.4 7.0 5.6 5.6 7.2 6.3 6.4 7.4 Grant element (%) 25.0 3.0 14.9 15.1 13.3 17.7 11.3 19.8 23.5 23.8 Official creditors Interest (%) 4.7 6.5 6.3 5.9 5.7 4.7 5.4 4.7 3.5 3.4 Maturity (years) 24.4 20.3 19.8 17.1 13.3 17.6 16.8 16.9 18.6 15.8 Grace period (years) 6.7 5.6 6.1 4.8 3.8 5.1 4.3 4.2 4.9 4.3 Grant element (%) 37.1 25.1 25.8 24.7 21.2 33.0 26.4 30.5 39.7 38.6 Private creditors Interest (%) 7.4 12.0 8.7 7.5 8.1 8.1 8.4 6.9 6.8 5.8 Maturity (years) 9.1 10.0 11.1 10.7 10.5 8.7 11.0 9.4 25.9 10.0 Grace period (years) 2.4 3.8 4.8 8.1 7.0 6.0 8.5 7.5 7.2 8.6 Grant element (%) 11.1 -9.4 5.9 10.1 7.1 7.0 4.7 13.4 14.4 18.1 Memorandum items Commitments 7,293 72,051 94,407 158,398 163,436 134,213 126,974 123,158 91,752 116,196 Official creditors 3,897 25,983 42,525 53,992 71,811 55,208 38,827 46,181 32,950 32,263 Private creditors 3,396 46,068 51,882 104,406 91,625 79,006 88,147 76,977 58,802 83,933 10. GRAPH OF AGGREGATE NET RESOURCE FLOWS (current prices, US$ billion) Aggregate Net Resource Flows Private Flows Official Flows 300.0 2003 2003 250.0 2002 2002 2001 2001 200.0 2000 2000 150.0 1999 1999 100.0 1998 1998 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 -20.0 -10.0 0.0 10.0 20.0 30.0 Private flows Official flows Private non-debt flows Private debt flows Multilateral Bilateral Grants 40 ALBANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 515 626 709 1,061 1,093 1,119 1,482 Long-term debt (LDOD) .. .. .. 412 527 599 936 979 1,009 1,242 Public and publicly guaranteed .. .. .. 412 506 583 921 969 996 1,230 Private nonguaranteed .. .. .. 0 21 16 15 11 13 12 Use of IMF credit .. .. .. 55 64 81 88 83 81 90 Short-term debt .. .. .. 48 35 29 37 31 29 149 of which interest arrears on LDOD .. .. .. 4 4 4 3 4 1 1 Official creditors .. .. .. 1 1 1 1 1 0 0 Private creditors .. .. .. 3 3 3 3 3 1 1 Memo: principal arrears on LDOD .. .. .. 33 33 33 271 271 16 16 Official creditors .. .. .. 18 18 18 255 255 0 0 Private creditors .. .. .. 16 16 16 16 16 16 16 Memo: export credits .. .. .. 26 215 177 22 28 30 51 TOTAL DEBT FLOWS Disbursements .. .. .. 65 97 156 138 113 158 156 Long-term debt .. .. .. 52 89 135 120 101 153 145 IMF purchases .. .. .. 12 8 21 19 12 5 11 Principal repayments .. .. .. 16 12 15 16 24 35 36 Long-term debt .. .. .. 8 10 11 9 11 21 27 IMF repurchases .. .. .. 8 1 3 7 14 14 10 Net flows on debt .. .. .. 63 73 136 130 82 124 240 of which short-term debt .. .. .. 14 -13 -6 8 -6 1 120 Interest payments (INT) .. .. .. 8 10 8 11 12 23 19 Long-term debt .. .. .. 6 7 6 8 10 22 15 IMF charges .. .. .. 0 1 1 1 1 1 0 Short-term debt .. .. .. 2 2 1 2 1 1 3 Net transfers on debt .. .. .. 54 63 127 119 70 101 222 Total debt service paid (TDS) .. .. .. 24 21 23 27 37 58 55 Long-term debt .. .. .. 14 17 18 17 21 43 42 IMF repurchases and charges .. .. .. 8 2 4 8 14 14 10 Short-term debt (interest only) .. .. .. 2 2 1 2 1 1 3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 167 251 445 414 434 374 408 Net flow of long-term debt (ex. IMF) .. .. .. 44 79 124 110 90 132 118 Foreign direct investment (net) .. .. .. 48 45 41 143 207 135 178 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 75 127 280 161 137 107 112 Memo: technical coop. grants .. .. .. 34 34 69 56 62 83 146 official net resource flows .. .. .. 121 208 408 272 231 238 233 private net resource flows .. .. .. 46 43 37 142 203 136 175 NET TRANSFERS .. .. .. 160 244 439 406 424 351 392 Interest on long-term debt .. .. .. 6 7 6 8 10 22 15 Profit remittances on FDI .. .. .. 2 0 0 0 0 1 1 Memo: official net transfers .. .. .. 116 202 403 265 222 221 218 private net transfers .. .. .. 44 42 36 141 203 130 174 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 2,213 2,815 3,520 3,798 4,400 4,963 6,292 Exports of goods, serv. & inc. (XGS) .. .. .. 551 833 987 1,350 1,616 1,707 2,140 Worker remit. & comp. of employees .. .. .. 300 504 407 598 699 734 889 Imports of goods & services (MGS) .. .. .. 821 950 1,111 1,509 1,789 2,096 2,610 International reserves (RES) .. .. .. 342 418 523 646 771 866 1,038 Current account balance .. .. .. -272 -65 -155 -156 -217 -408 -407 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 93.5 75.2 71.9 78.6 67.7 65.6 69.3 EDT / GNI (%) .. .. .. 23.3 22.3 20.1 27.9 24.8 22.5 23.6 TDS / XGS (%) .. .. .. 4.4 2.6 2.3 2.0 2.3 3.4 2.6 INT / XGS (%) .. .. .. 1.5 1.2 0.9 0.8 0.8 1.4 0.9 INT / GNI (%) .. .. .. 0.4 0.4 0.2 0.3 0.3 0.5 0.3 RES / EDT (%) .. .. .. 66.5 66.7 73.8 60.9 70.5 77.4 70.1 RES / MGS (months) .. .. .. 5.0 5.3 5.6 5.1 5.2 5.0 4.8 Short-term / EDT (%) .. .. .. 9.3 5.6 4.1 3.5 2.8 2.6 10.1 Concessional / EDT (%) .. .. .. 66.9 70.8 71.8 52.1 55.1 77.0 71.8 Multilateral / EDT (%) .. .. .. 31.8 38.6 48.5 40.2 40.2 52.0 50.1 41 ALBANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 412 527 599 936 979 1,009 1,242 Public and publicly guaranteed .. .. .. 412 506 583 921 969 996 1,230 Official creditors .. .. .. 385 480 560 899 947 974 1,208 Multilateral .. .. .. 164 242 344 426 440 582 742 Concessional .. .. .. 155 232 316 368 396 518 642 Bilateral .. .. .. 221 238 216 473 508 392 465 Concessional .. .. .. 190 212 193 185 207 344 421 Private creditors .. .. .. 27 26 23 22 22 22 22 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 27 26 23 22 22 22 22 Private nonguaranteed .. .. .. 0 21 16 15 11 13 12 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 21 16 15 11 13 12 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 148 220 296 346 366 476 583 DISBURSEMENTS .. .. .. 52 89 135 120 101 153 145 Public and publicly guaranteed .. .. .. 52 89 134 120 101 150 145 Official creditors .. .. .. 52 89 134 120 101 150 145 Multilateral .. .. .. 22 70 109 101 56 110 108 Concessional .. .. .. 21 69 89 67 44 92 78 Bilateral .. .. .. 29 19 25 19 44 41 36 Concessional .. .. .. 29 19 25 11 29 40 36 Private creditors .. .. .. 1 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 .. .. .. 1 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 0 1 0 0 3 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 1 0 0 3 0 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 19 64 81 64 34 79 61 PRINCIPAL REPAYMENTS .. .. .. 8 10 11 9 11 21 27 Public and publicly guaranteed .. .. .. 8 10 8 9 7 19 24 Official creditors .. .. .. 6 9 6 8 7 19 24 Multilateral .. .. .. 1 1 2 2 3 8 12 Concessional .. .. .. 0 0 0 1 1 2 3 Bilateral .. .. .. 5 8 5 6 4 11 12 Concessional .. .. .. 1 3 2 3 2 8 7 Private creditors .. .. .. 2 2 2 1 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 2 2 2 1 0 0 0 Private nonguaranteed .. .. .. 0 0 3 0 4 2 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 3 0 4 2 2 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 1 NET FLOWS ON DEBT .. .. .. 44 79 124 110 90 132 118 Public and publicly guaranteed .. .. .. 44 79 126 110 93 131 120 Official creditors .. .. .. 46 81 128 111 94 131 121 Multilateral .. .. .. 21 69 108 98 53 102 96 Concessional .. .. .. 21 69 89 67 43 90 75 Bilateral .. .. .. 25 11 20 13 41 29 24 Concessional .. .. .. 28 16 23 8 27 32 29 Private creditors .. .. .. -1 -2 -2 -1 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. -1 -2 -2 -1 0 0 0 Private nonguaranteed .. .. .. 0 0 -2 0 -4 1 -2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 -2 0 -4 1 -2 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 19 64 81 64 34 79 59 42 ALBANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 6 7 6 8 10 22 15 Public and publicly guaranteed .. .. .. 6 6 6 7 10 17 15 Official creditors .. .. .. 5 6 5 7 9 17 15 Multilateral .. .. .. 2 2 3 4 6 6 8 Concessional .. .. .. 1 1 2 3 3 3 5 Bilateral .. .. .. 3 4 2 3 4 11 7 Concessional .. .. .. 2 3 2 3 3 10 6 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 1 1 1 1 5 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 1 1 1 1 5 1 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 1 2 2 3 3 4 NET TRANSFERS ON DEBT .. .. .. 39 72 118 102 80 110 103 Public and publicly guaranteed .. .. .. 39 73 121 103 84 114 105 Official creditors .. .. .. 40 75 122 104 84 114 106 Multilateral .. .. .. 19 67 105 94 47 96 89 Concessional .. .. .. 20 68 87 64 39 87 70 Bilateral .. .. .. 21 8 18 10 37 19 17 Concessional .. .. .. 26 13 21 5 24 22 23 Private creditors .. .. .. -2 -2 -2 -1 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. -2 -2 -2 -1 0 0 0 Private nonguaranteed .. .. .. 0 -1 -3 -1 -4 -4 -3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 -1 -3 -1 -4 -4 -3 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 18 63 79 62 32 76 56 DEBT SERVICE (LTDS) .. .. .. 14 17 18 17 21 43 42 Public and publicly guaranteed .. .. .. 14 17 14 17 17 36 39 Official creditors .. .. .. 11 14 12 15 16 36 39 Multilateral .. .. .. 3 3 4 6 9 14 20 Concessional .. .. .. 2 1 2 3 5 5 8 Bilateral .. .. .. 8 11 7 9 7 22 19 Concessional .. .. .. 4 6 4 5 5 17 13 Private creditors .. .. .. 2 2 2 1 0 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 2 2 2 1 0 0 0 Private nonguaranteed .. .. .. 0 1 4 1 4 7 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 1 4 1 4 7 3 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 1 2 2 3 3 5 UNDISBURSED DEBT .. .. .. 341 429 468 461 427 522 581 Official creditors .. .. .. 341 429 468 461 427 522 581 Private creditors .. .. .. 0 0 0 0 0 0 0 Memorandum items Concessional LDOD .. .. .. 345 444 509 553 603 862 1,063 Variable rate LDOD .. .. .. 55 73 80 363 363 160 189 Public sector LDOD .. .. .. 412 505 582 920 966 993 1,226 Private sector LDOD .. .. .. 0 22 17 16 13 16 16 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 20.1 27.3 30.0 Deutsche mark .. .. .. 14.3 13.1 10.5 6.0 .. .. .. French franc .. .. .. 0.1 0.1 0.0 0.0 .. .. .. Japanese yen .. .. .. 4.1 4.0 5.3 3.2 2.6 2.8 3.0 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 .. .. .. 59.6 60.8 62.4 73.2 73.8 61.7 59.0 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 0.3 0.7 1.0 0.7 0.7 0.8 0.7 All other currencies .. .. .. 21.7 21.3 20.8 16.9 2.7 7.4 7.2 43 ALBANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 5 0 28 5 75 0 Debt stock rescheduled .. .. .. 0 0 0 0 0 0 0 Principal rescheduled .. .. .. 0 0 0 22 0 75 0 Official .. .. .. 0 0 0 21 0 75 0 Private .. .. .. 0 0 0 0 0 0 0 Interest rescheduled .. .. .. 0 0 0 2 0 0 0 Official .. .. .. 0 0 0 2 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 0 180 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. .. 24 112 83 352 33 26 363 Net flows on debt .. .. .. 63 73 136 130 82 124 240 Net change in interest arrears .. .. .. 2 0 0 -1 0 -2 0 Interest capitalized .. .. .. 0 0 0 2 0 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 -180 0 Cross-currency valuation .. .. .. -31 22 -31 -35 -31 79 117 Residual .. .. .. -10 17 -22 255 -18 5 6 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 0.5 2.6 1.7 3.5 3.1 1.2 0.9 Maturity (years) .. .. .. 39.8 32.6 34.5 29.7 30.7 32.7 28.3 Grace period (years) .. .. .. 10.3 9.9 8.7 10.5 9.4 9.5 13.0 Grant element (%) .. .. .. 82.6 61.1 69.2 54.5 56.6 70.7 75.3 Official creditors Interest (%) .. .. .. 0.5 2.6 1.7 3.5 3.1 1.2 0.9 Maturity (years) .. .. .. 39.8 32.6 34.5 29.7 30.7 32.7 28.3 Grace period (years) .. .. .. 10.3 9.9 8.7 10.5 9.4 9.5 13.0 Grant element (%) .. .. .. 82.6 61.1 69.2 54.5 56.6 70.7 75.3 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 .. .. .. 34 157 204 173 94 185 135 Official creditors .. .. .. 34 157 204 173 94 185 135 Private creditors .. .. .. 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 149 140 100 67 48 32 20 12 7 3 Principal 38 45 55 55 58 62 66 65 60 60 Interest 19 21 22 22 22 21 20 18 17 16 Official creditors Disbursements 149 140 100 67 48 32 20 12 7 3 Principal 37 42 52 53 56 59 63 65 60 60 Interest 18 21 22 22 22 21 20 18 17 16 Bilateral creditors Disbursements 81 67 42 25 14 8 4 2 1 0 Principal 21 24 28 24 26 27 27 29 27 24 Interest 9 9 9 9 9 8 8 7 7 6 Multilateral creditors Disbursements 68 72 59 42 34 24 15 10 6 3 Principal 16 18 24 29 31 33 35 36 32 36 Interest 10 11 12 13 13 12 12 11 10 10 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 3 3 1 2 2 3 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 3 3 1 2 2 3 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 44 ALGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 940 19,365 28,149 30,892 30,678 27,997 25,272 22,586 22,876 23,386 Long-term debt (LDOD) 940 17,040 26,688 28,712 28,482 25,896 23,332 20,870 21,438 22,253 Public and publicly guaranteed 940 17,040 26,688 28,712 28,482 25,896 23,332 20,870 21,332 21,741 Private nonguaranteed 0 0 0 0 0 0 0 0 107 512 Use of IMF credit 0 0 670 2,018 2,011 1,906 1,718 1,518 1,330 988 Short-term debt 0 2,325 791 162 186 195 222 199 108 146 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 19,181 11,730 11,029 10,697 10,162 11,222 11,875 TOTAL DEBT FLOWS Disbursements 313 3,398 7,017 2,107 1,494 1,429 1,215 1,036 1,604 1,782 Long-term debt 313 3,398 7,017 1,643 1,150 1,123 1,215 1,036 1,604 1,782 IMF purchases 0 0 0 465 344 306 0 0 0 0 Principal repayments 35 2,529 6,780 2,370 3,139 3,381 2,815 2,964 2,948 3,216 Long-term debt 35 2,529 6,780 2,019 2,704 3,022 2,722 2,823 2,650 2,777 IMF repurchases 0 0 0 350 435 359 93 141 297 439 Net flows on debt 279 1,261 -811 -428 -1,622 -1,943 -1,574 -1,951 -1,434 -1,396 of which short-term debt 0 392 -1,049 -166 24 9 27 -23 -91 38 Interest payments (INT) 10 1,556 2,025 2,048 1,992 1,810 1,655 1,419 1,218 1,085 Long-term debt 10 1,440 1,784 1,943 1,879 1,722 1,552 1,334 1,168 1,057 IMF charges 0 0 62 93 99 78 92 76 43 24 Short-term debt 0 116 179 12 15 10 10 9 7 4 Net transfers on debt 269 -294 -2,836 -2,477 -3,614 -3,753 -3,228 -3,370 -2,653 -2,481 Total debt service paid (TDS) 45 4,084 8,804 4,418 5,131 5,191 4,470 4,383 4,166 4,301 Long-term debt 45 3,968 8,564 3,962 4,583 4,744 4,274 4,157 3,819 3,834 IMF repurchases and charges 0 0 62 443 534 437 185 217 340 463 Short-term debt (interest only) 0 116 179 12 15 10 10 9 7 4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 381 1,295 283 -82 -945 -1,343 -1,008 -549 114 -291 Net flow of long-term debt (ex. IMF) 279 869 237 -377 -1,554 -1,899 -1,508 -1,787 -1,046 -995 Foreign direct investment (net) 47 349 0 260 501 507 438 1,196 1,065 634 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 56 77 45 35 108 49 62 42 95 71 Memo: technical coop. grants 44 96 106 110 106 93 76 77 97 146 official net resource flows 88 399 707 199 -118 -336 -200 -775 -912 -884 private net resource flows 294 896 -424 -281 -827 -1,008 -808 226 1,027 593 NET TRANSFERS 371 -831 -1,652 -2,198 -2,990 -3,241 -2,817 -1,985 -1,369 -1,712 Interest on long-term debt 10 1,440 1,784 1,943 1,879 1,722 1,552 1,334 1,168 1,057 Profit remittances on FDI 0 687 152 174 166 176 257 103 315 364 Memo: official net transfers 84 239 395 -927 -1,314 -1,526 -1,331 -1,786 -1,879 -1,758 private net transfers 287 -1,071 -2,047 -1,271 -1,675 -1,715 -1,486 -199 509 47 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 4,742 41,147 59,955 45,649 45,357 45,305 50,745 53,165 53,683 64,573 Exports of goods, serv. & inc. (XGS) .. 14,906 13,887 .. .. .. .. .. .. .. Worker remit. & comp. of employees 211 406 352 1,060 1,060 790 790 670 1,070 1,090 Imports of goods & services (MGS) .. 14,552 12,448 .. .. .. .. .. .. .. International reserves (RES) 352 7,064 2,703 9,667 8,452 6,146 13,556 19,625 25,151 35,455 Current account balance .. 249 1,420 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 129.9 202.7 .. .. .. .. .. .. .. EDT / GNI (%) 19.8 47.1 47.0 67.7 67.6 61.8 49.8 42.5 42.6 36.2 TDS / XGS (%) .. 27.4 63.4 .. .. .. .. .. .. .. INT / XGS (%) .. 10.4 14.6 .. .. .. .. .. .. .. INT / GNI (%) 0.2 3.8 3.4 4.5 4.4 4.0 3.3 2.7 2.3 1.7 RES / EDT (%) 37.5 36.5 9.6 31.3 27.6 22.0 53.6 86.9 109.9 151.6 RES / MGS (months) .. 5.8 2.6 .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 12.0 2.8 0.5 0.6 0.7 0.9 0.9 0.5 0.6 Concessional / EDT (%) 50.0 6.6 3.1 10.3 10.9 12.3 12.4 12.2 12.4 12.9 Multilateral / EDT (%) 1.7 1.5 7.2 12.5 14.3 15.1 16.3 17.7 17.1 17.6 45 ALGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 940 17,040 26,688 28,712 28,482 25,896 23,332 20,870 21,438 22,253 Public and publicly guaranteed 940 17,040 26,688 28,712 28,482 25,896 23,332 20,870 21,332 21,741 Official creditors 485 3,495 5,866 18,284 19,466 18,503 17,480 16,197 16,363 16,811 Multilateral 16 284 2,031 3,852 4,392 4,236 4,123 3,999 3,912 4,116 Concessional 0 14 76 368 394 474 453 436 417 498 Bilateral 469 3,211 3,835 14,432 15,074 14,266 13,357 12,198 12,451 12,696 Concessional 469 1,255 784 2,802 2,938 2,975 2,688 2,320 2,422 2,508 Private creditors 454 13,545 20,822 10,428 9,016 7,393 5,851 4,673 4,969 4,930 Bonds 5 410 1,420 0 0 0 0 0 0 0 Commercial banks 20 5,503 5,851 4,009 3,698 3,386 2,763 2,219 2,213 1,955 Other private 430 7,632 13,551 6,419 5,318 4,007 3,088 2,453 2,756 2,974 Private nonguaranteed 0 0 0 0 0 0 0 0 107 512 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 107 512 Memo: IBRD 16 253 1,208 1,795 1,676 1,540 1,425 1,329 1,203 1,056 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 313 3,398 7,017 1,643 1,150 1,123 1,215 1,036 1,604 1,782 Public and publicly guaranteed 313 3,398 7,017 1,643 1,150 1,123 1,215 1,036 1,527 1,331 Official creditors 45 566 1,835 1,208 751 734 795 464 490 597 Multilateral 0 54 612 790 594 428 349 340 390 550 Concessional 0 1 9 59 75 133 41 50 33 128 Bilateral 45 512 1,223 419 157 306 446 124 100 47 Concessional 45 78 282 161 81 226 152 79 75 41 Private creditors 268 2,832 5,182 434 399 389 420 572 1,037 734 Bonds 5 30 0 0 0 0 0 0 0 0 Commercial banks 17 891 206 29 6 3 0 3 252 15 Other private 246 1,911 4,976 406 393 385 419 570 786 719 Private nonguaranteed 0 0 0 0 0 0 0 0 77 451 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 77 451 Memo: IBRD 0 39 300 250 56 62 58 83 70 50 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 35 2,529 6,780 2,019 2,704 3,022 2,722 2,823 2,650 2,777 Public and publicly guaranteed 35 2,529 6,780 2,019 2,704 3,022 2,722 2,823 2,590 2,766 Official creditors 13 244 1,174 1,044 977 1,119 1,056 1,281 1,497 1,552 Multilateral 3 42 312 698 412 420 349 524 642 535 Concessional 0 1 6 35 39 48 53 66 61 54 Bilateral 10 203 862 346 565 699 707 757 855 1,017 Concessional 10 72 97 116 145 197 223 226 234 265 Private creditors 22 2,284 5,606 975 1,727 1,903 1,666 1,542 1,093 1,214 Bonds 0 15 16 0 0 0 0 0 0 0 Commercial banks 2 918 1,330 110 477 463 458 391 367 394 Other private 19 1,352 4,260 865 1,250 1,440 1,208 1,151 726 820 Private nonguaranteed 0 0 0 0 0 0 0 0 60 11 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 60 11 Memo: IBRD 3 13 130 234 208 199 172 177 200 202 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 279 869 237 -377 -1,554 -1,899 -1,508 -1,787 -1,046 -995 Public and publicly guaranteed 279 869 237 -377 -1,554 -1,899 -1,508 -1,787 -1,063 -1,435 Official creditors 32 322 662 164 -226 -384 -262 -817 -1,007 -955 Multilateral -3 13 300 91 182 8 -1 -184 -253 15 Concessional 0 0 3 24 36 85 -12 -16 -28 73 Bilateral 35 309 362 73 -408 -392 -261 -632 -755 -970 Concessional 35 6 185 45 -64 28 -71 -147 -159 -224 Private creditors 247 548 -424 -541 -1,328 -1,515 -1,246 -970 -55 -480 Bonds 5 15 -15 0 0 0 0 0 0 0 Commercial banks 15 -27 -1,124 -82 -471 -460 -458 -389 -115 -379 Other private 227 559 715 -459 -857 -1,055 -788 -581 60 -102 Private nonguaranteed 0 0 0 0 0 0 0 0 17 440 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 17 440 Memo: IBRD -3 26 170 17 -152 -137 -114 -94 -130 -152 IDA 0 0 0 0 0 0 0 0 0 0 46 ALGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 10 1,440 1,784 1,943 1,879 1,722 1,552 1,334 1,168 1,057 Public and publicly guaranteed 10 1,440 1,784 1,943 1,879 1,722 1,552 1,334 1,164 1,055 Official creditors 4 159 312 1,126 1,197 1,190 1,131 1,011 966 875 Multilateral 1 29 117 252 279 318 297 248 304 253 Concessional 0 1 6 19 18 20 17 23 17 18 Bilateral 3 130 195 874 917 872 834 764 662 622 Concessional 3 35 17 101 107 109 108 96 87 87 Private creditors 6 1,280 1,472 817 682 532 421 322 198 180 Bonds 0 45 105 0 0 0 0 0 0 0 Commercial banks 0 672 526 246 217 178 153 122 68 46 Other private 6 563 841 571 465 354 267 200 129 134 Private nonguaranteed 0 0 0 0 0 0 0 0 5 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 5 3 Memo: IBRD 1 25 73 120 124 126 128 119 104 85 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 269 -570 -1,546 -2,320 -3,433 -3,621 -3,060 -3,120 -2,214 -2,052 Public and publicly guaranteed 269 -570 -1,546 -2,320 -3,433 -3,621 -3,060 -3,120 -2,227 -2,489 Official creditors 28 162 349 -962 -1,422 -1,574 -1,393 -1,828 -1,973 -1,829 Multilateral -4 -17 183 -161 -97 -310 -298 -432 -556 -238 Concessional 0 -1 -2 5 18 65 -29 -38 -45 55 Bilateral 32 179 166 -801 -1,325 -1,264 -1,095 -1,396 -1,417 -1,592 Concessional 32 -29 168 -56 -170 -81 -179 -243 -247 -311 Private creditors 240 -732 -1,896 -1,358 -2,010 -2,046 -1,667 -1,292 -253 -660 Bonds 5 -30 -120 0 0 0 0 0 0 0 Commercial banks 14 -699 -1,650 -328 -689 -638 -611 -511 -183 -425 Other private 221 -4 -126 -1,029 -1,322 -1,409 -1,056 -782 -70 -235 Private nonguaranteed 0 0 0 0 0 0 0 0 12 437 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 12 437 Memo: IBRD -4 0 97 -103 -276 -263 -242 -213 -233 -237 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 45 3,968 8,564 3,962 4,583 4,744 4,274 4,157 3,819 3,834 Public and publicly guaranteed 45 3,968 8,564 3,962 4,583 4,744 4,274 4,157 3,754 3,820 Official creditors 17 404 1,486 2,171 2,173 2,309 2,188 2,292 2,463 2,427 Multilateral 4 71 429 951 691 739 646 771 946 788 Concessional 0 2 12 54 57 68 70 88 77 73 Bilateral 13 333 1,057 1,220 1,483 1,570 1,541 1,521 1,517 1,639 Concessional 13 107 114 218 251 306 332 321 321 352 Private creditors 28 3,564 7,078 1,792 2,409 2,435 2,087 1,865 1,291 1,394 Bonds 0 60 120 0 0 0 0 0 0 0 Commercial banks 3 1,590 1,856 357 694 641 612 513 435 440 Other private 25 1,915 5,101 1,435 1,715 1,794 1,475 1,351 855 954 Private nonguaranteed 0 0 0 0 0 0 0 0 65 14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 65 14 Memo: IBRD 4 39 203 353 332 325 300 296 304 286 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 737 11,717 12,954 6,048 5,649 5,298 4,202 4,135 2,851 2,073 Official creditors 579 4,169 5,254 4,368 3,961 3,613 2,862 2,751 1,847 1,560 Private creditors 159 7,548 7,700 1,681 1,688 1,684 1,341 1,384 1,004 513 Memorandum items Concessional LDOD 469 1,269 860 3,170 3,333 3,449 3,141 2,755 2,839 3,006 Variable rate LDOD 26 4,265 10,711 15,634 15,139 13,477 11,886 10,571 10,423 10,718 Public sector LDOD 940 17,040 26,608 28,596 28,322 25,758 23,210 20,757 21,189 21,571 Private sector LDOD 0 0 80 116 160 137 122 112 250 682 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 30.0 32.9 37.7 Deutsche mark 1.9 9.9 10.4 6.6 6.7 5.8 5.5 .. .. .. French franc 36.0 10.9 17.7 15.5 15.1 13.3 12.5 .. .. .. Japanese yen 0.0 13.4 15.1 11.8 12.1 15.1 14.5 12.6 13.1 12.9 Pound sterling 8.3 2.2 1.5 1.1 1.0 1.0 1.0 1.3 1.4 1.7 Swiss franc 0.2 2.7 0.8 0.5 0.4 0.4 0.5 0.7 0.9 0.9 U.S.dollars 37.0 41.5 33.5 41.5 44.8 44.5 44.7 46.5 42.7 37.2 Multiple currency 1.7 3.4 4.8 7.9 1.8 1.9 2.0 2.1 1.9 1.8 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 15.1 16.0 16.2 15.1 18.1 17.9 19.3 6.9 7.1 7.8 47 ALGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 2,295 558 2 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 2,114 543 0 0 0 0 0 Official .. .. 0 219 81 0 0 0 0 0 Private .. .. 0 1,895 461 0 0 0 0 0 Interest rescheduled .. .. 0 89 0 0 0 0 0 0 Official .. .. 0 20 0 0 0 0 0 0 Private .. .. 0 69 0 0 0 0 0 0 Debt forgiven .. .. 0 10 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 .. .. 912 -2,753 -214 -2,681 -2,725 -2,685 290 510 Net flows on debt 279 1,261 -811 -428 -1,622 -1,943 -1,574 -1,951 -1,434 -1,396 Net change in interest arrears .. .. 0 0 0 0 0 0 0 0 Interest capitalized .. .. 0 89 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -10 0 0 0 0 0 0 Cross-currency valuation .. .. 1,669 -2,227 1,186 -1,028 -1,144 -916 1,685 1,955 Residual .. .. 55 -177 222 290 -8 182 39 -48 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.7 8.1 8.4 5.5 5.4 4.9 6.2 3.2 2.8 2.1 Maturity (years) 12.7 12.5 9.1 12.3 11.3 10.9 11.1 12.0 13.6 11.8 Grace period (years) 3.6 3.5 2.5 3.2 3.1 2.9 3.0 3.2 3.5 3.0 Grant element (%) 23.0 8.3 6.9 20.0 19.5 22.7 16.7 31.5 34.2 35.9 Official creditors Interest (%) 2.8 7.7 7.0 5.5 6.1 5.4 6.2 4.5 2.6 1.8 Maturity (years) 23.9 17.6 16.8 12.7 14.8 13.1 14.9 17.5 21.7 15.0 Grace period (years) 9.2 5.1 4.0 3.6 3.6 4.4 4.1 4.8 6.2 4.0 Grant element (%) 54.3 13.5 19.5 20.8 19.4 24.5 20.8 32.6 50.7 44.9 Private creditors Interest (%) 6.4 8.4 8.9 5.8 4.7 4.6 6.2 2.8 3.0 2.9 Maturity (years) 9.8 9.7 6.5 10.6 7.9 9.6 7.1 10.1 7.8 4.7 Grace period (years) 2.1 2.6 2.0 1.7 2.7 2.0 1.9 2.7 1.5 0.9 Grant element (%) 14.8 5.5 2.8 16.9 19.6 21.6 12.5 31.1 22.1 15.5 Memorandum items Commitments 378 3,538 8,054 1,565 963 1,270 1,418 1,709 1,154 587 Official creditors 78 1,258 1,983 1,237 469 486 717 425 488 407 Private creditors 299 2,279 6,071 328 494 784 701 1,284 666 180 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 775 455 265 155 110 76 48 20 12 8 Principal 3,226 3,085 2,863 2,814 2,964 2,962 1,931 1,788 401 368 Interest 869 763 653 543 430 310 202 123 67 55 Official creditors Disbursements 452 319 220 149 107 76 48 20 12 8 Principal 1,937 1,968 1,976 2,138 2,371 2,445 1,638 1,617 291 274 Interest 713 641 562 477 383 279 185 112 61 51 Bilateral creditors Disbursements 45 27 15 9 5 2 0 0 0 0 Principal 1,219 1,327 1,458 1,673 1,888 2,014 1,243 1,311 48 61 Interest 505 455 400 337 265 185 109 53 15 14 Multilateral creditors Disbursements 407 292 205 140 103 74 47 20 12 8 Principal 718 641 518 465 483 430 395 306 243 213 Interest 209 186 162 139 117 95 76 59 47 37 Private creditors Disbursements 323 136 45 6 2 0 0 0 0 0 Principal 1,289 1,118 887 676 593 518 294 170 110 94 Interest 156 122 91 67 47 30 18 10 6 4 Commercial banks Disbursements 12 5 2 0 0 0 0 0 0 0 Principal 399 399 339 229 229 229 114 1 0 0 Interest 36 28 21 15 10 6 1 0 0 0 Other private Disbursements 312 131 43 6 2 0 0 0 0 0 Principal 890 719 548 447 364 289 179 169 110 94 Interest 120 93 70 52 37 25 16 10 6 4 48 ANGOLA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 8,594 9,950 10,786 10,300 9,410 9,236 9,247 9,698 Long-term debt (LDOD) .. .. 7,605 8,683 9,101 8,715 8,087 7,784 8,038 8,576 Public and publicly guaranteed .. .. 7,605 8,683 9,101 8,715 8,087 7,784 8,038 8,576 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 1,267 1,685 1,586 1,323 1,451 1,209 1,122 of which interest arrears on LDOD .. .. 204 547 785 889 874 1,006 962 938 Official creditors .. .. 52 188 259 284 252 266 287 351 Private creditors .. .. 152 359 526 605 622 740 675 588 Memo: principal arrears on LDOD .. .. 497 1,722 2,394 2,690 2,855 3,355 3,415 3,568 Official creditors .. .. 86 414 569 682 735 866 941 1,065 Private creditors .. .. 412 1,308 1,825 2,008 2,119 2,489 2,474 2,503 Memo: export credits .. .. 1,639 2,208 1,721 1,874 1,862 1,682 2,114 2,092 TOTAL DEBT FLOWS Disbursements .. .. 862 1,190 790 943 1,045 1,063 822 1,574 Long-term debt .. .. 862 1,190 790 943 1,045 1,063 822 1,574 IMF purchases .. .. 0 0 0 0 0 0 0 0 Principal repayments .. .. 183 816 1,285 1,270 1,530 1,384 1,228 1,143 Long-term debt .. .. 183 816 1,285 1,270 1,530 1,384 1,228 1,143 IMF repurchases .. .. 0 0 0 0 0 0 0 0 Net flows on debt .. .. 977 418 -314 -530 -733 -325 -604 368 of which short-term debt .. .. 298 44 180 -203 -248 -4 -198 -63 Interest payments (INT) .. .. 143 195 247 158 175 147 163 195 Long-term debt .. .. 100 148 202 114 149 125 145 188 IMF charges .. .. 0 0 0 0 0 0 0 0 Short-term debt .. .. 43 46 45 45 26 22 19 6 Net transfers on debt .. .. 834 224 -562 -689 -909 -472 -767 173 Total debt service paid (TDS) .. .. 326 1,011 1,532 1,428 1,705 1,531 1,391 1,338 Long-term debt .. .. 283 965 1,487 1,384 1,680 1,509 1,372 1,331 IMF repurchases and charges .. .. 0 0 0 0 0 0 0 0 Short-term debt (interest only) .. .. 43 46 45 45 26 22 19 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 536 1,028 836 2,406 599 2,038 1,602 2,258 Net flow of long-term debt (ex. IMF) .. .. 679 374 -494 -327 -485 -321 -406 431 Foreign direct investment (net) .. .. -335 412 1,114 2,471 879 2,145 1,672 1,415 Portfolio equity flows .. .. 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. 192 242 216 261 206 213 336 412 Memo: technical coop. grants .. .. 36 57 52 58 52 63 68 84 official net resource flows .. .. 302 229 -137 -105 -28 -108 306 355 private net resource flows .. .. 235 798 973 2,510 628 2,146 1,296 1,903 NET TRANSFERS .. .. 122 320 255 1,639 -479 986 357 370 Interest on long-term debt .. .. 100 148 202 114 149 125 145 188 Profit remittances on FDI .. .. 314 559 378 653 929 927 1,100 1,700 Memo: official net transfers .. .. 283 208 -152 -113 -64 -117 296 342 private net transfers .. .. -161 112 408 1,752 -414 1,103 61 28 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 8,214 6,413 5,230 4,655 7,178 7,910 9,308 10,728 Exports of goods, serv. & inc. (XGS) .. .. 4,003 5,257 3,699 5,334 8,222 6,760 8,552 8,974 Worker remit. & comp. of employees .. .. 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. .. 4,161 6,236 5,718 7,100 7,454 8,281 8,734 9,505 International reserves (RES) .. .. .. 396 203 496 1,198 732 376 634 Current account balance .. .. -236 -884 -1,867 -1,710 796 -1,431 -150 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 214.7 189.3 291.6 193.1 114.4 136.6 108.1 108.1 EDT / GNI (%) .. .. 104.6 155.2 206.2 221.3 131.1 116.8 99.3 90.4 TDS / XGS (%) .. .. 8.1 19.2 41.4 26.8 20.7 22.7 16.3 14.9 INT / XGS (%) .. .. 3.6 3.7 6.7 3.0 2.1 2.2 1.9 2.2 INT / GNI (%) .. .. 1.7 3.0 4.7 3.4 2.4 1.9 1.8 1.8 RES / EDT (%) .. .. .. 4.0 1.9 4.8 12.7 7.9 4.1 6.5 RES / MGS (months) .. .. .. 0.8 0.4 0.8 1.9 1.1 0.5 0.8 Short-term / EDT (%) .. .. 11.5 12.7 15.6 15.4 14.1 15.7 13.1 11.6 Concessional / EDT (%) .. .. 13.9 22.2 22.1 19.5 19.0 17.1 17.9 17.8 Multilateral / EDT (%) .. .. 0.7 2.3 2.6 3.0 3.1 3.0 3.4 3.6 49 ANGOLA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 7,605 8,683 9,101 8,715 8,087 7,784 8,038 8,576 Public and publicly guaranteed .. .. 7,605 8,683 9,101 8,715 8,087 7,784 8,038 8,576 Official creditors .. .. 1,839 2,870 3,402 2,980 2,703 2,440 2,893 3,133 Multilateral .. .. 57 234 279 312 294 276 316 349 Concessional .. .. 20 168 212 246 253 253 292 323 Bilateral .. .. 1,782 2,636 3,123 2,668 2,409 2,164 2,577 2,784 Concessional .. .. 1,177 2,044 2,173 1,758 1,538 1,328 1,366 1,403 Private creditors .. .. 5,767 5,813 5,700 5,734 5,383 5,344 5,145 5,443 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 143 3,527 2,648 2,766 2,625 2,679 2,304 3,024 Other private .. .. 5,624 2,287 3,051 2,969 2,758 2,666 2,842 2,419 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 .. .. 0 136 179 214 226 228 265 291 DISBURSEMENTS .. .. 862 1,190 790 943 1,045 1,063 822 1,574 Public and publicly guaranteed .. .. 862 1,190 790 943 1,045 1,063 822 1,574 Official creditors .. .. 169 36 81 68 34 16 21 16 Multilateral .. .. 5 28 36 39 24 13 21 10 Concessional .. .. 4 28 36 39 24 12 21 5 Bilateral .. .. 164 8 45 29 10 3 1 7 Concessional .. .. 54 8 45 29 10 3 1 7 Private creditors .. .. 693 1,154 709 875 1,011 1,047 801 1,558 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 17 1,126 549 835 1,010 1,046 800 1,555 Other private .. .. 676 29 160 40 0 2 1 3 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 28 36 39 24 11 21 5 PRINCIPAL REPAYMENTS .. .. 183 816 1,285 1,270 1,530 1,384 1,228 1,143 Public and publicly guaranteed .. .. 183 816 1,285 1,270 1,530 1,384 1,228 1,143 Official creditors .. .. 59 48 434 434 268 337 51 73 Multilateral .. .. 4 1 0 1 27 6 6 6 Concessional .. .. 0 0 0 0 4 1 3 4 Bilateral .. .. 56 48 434 432 241 331 45 67 Concessional .. .. 1 8 363 406 213 302 2 20 Private creditors .. .. 123 768 850 836 1,262 1,046 1,177 1,070 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 8 621 702 776 1,149 986 1,111 835 Other private .. .. 115 147 148 60 113 60 66 234 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 1 3 4 NET FLOWS ON DEBT .. .. 679 374 -494 -327 -485 -321 -406 431 Public and publicly guaranteed .. .. 679 374 -494 -327 -485 -321 -406 431 Official creditors .. .. 109 -13 -353 -366 -234 -322 -29 -57 Multilateral .. .. 1 27 36 38 -4 7 15 3 Concessional .. .. 4 28 36 39 20 11 18 1 Bilateral .. .. 109 -40 -390 -404 -231 -328 -44 -60 Concessional .. .. 53 0 -319 -377 -203 -299 -1 -13 Private creditors .. .. 570 387 -141 39 -251 1 -376 488 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 8 504 -153 59 -139 60 -311 720 Other private .. .. 562 -118 12 -20 -112 -59 -65 -232 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 28 36 39 24 11 18 1 50 ANGOLA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 100 148 202 114 149 125 145 188 Public and publicly guaranteed .. .. 100 148 202 114 149 125 145 188 Official creditors .. .. 19 21 15 9 36 9 10 14 Multilateral .. .. 2 1 1 2 28 4 3 3 Concessional .. .. 0 1 1 1 4 2 2 2 Bilateral .. .. 16 20 14 7 8 5 7 11 Concessional .. .. 1 5 3 1 2 1 1 1 Private creditors .. .. 81 127 187 105 113 116 135 175 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 5 92 150 89 93 106 119 145 Other private .. .. 76 36 37 16 20 10 15 29 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 2 1 2 2 NET TRANSFERS ON DEBT .. .. 579 226 -697 -441 -635 -446 -550 243 Public and publicly guaranteed .. .. 579 226 -697 -441 -635 -446 -550 243 Official creditors .. .. 91 -34 -368 -375 -270 -331 -39 -71 Multilateral .. .. -2 26 35 36 -32 3 12 0 Concessional .. .. 4 27 34 37 16 9 16 -1 Bilateral .. .. 92 -60 -403 -410 -239 -334 -51 -71 Concessional .. .. 52 -6 -321 -377 -205 -300 -2 -14 Private creditors .. .. 488 259 -328 -66 -364 -115 -511 313 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 3 413 -303 -29 -232 -46 -430 575 Other private .. .. 485 -154 -25 -37 -132 -69 -81 -261 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 27 34 37 22 9 16 0 DEBT SERVICE (LTDS) .. .. 283 965 1,487 1,384 1,680 1,509 1,372 1,331 Public and publicly guaranteed .. .. 283 965 1,487 1,384 1,680 1,509 1,372 1,331 Official creditors .. .. 78 69 449 442 304 346 61 87 Multilateral .. .. 6 1 1 3 56 10 9 9 Concessional .. .. 0 1 1 1 8 3 5 6 Bilateral .. .. 72 68 448 439 249 336 52 78 Concessional .. .. 2 14 366 406 215 303 2 21 Private creditors .. .. 205 895 1,038 941 1,375 1,163 1,312 1,244 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 14 713 852 865 1,242 1,092 1,230 980 Other private .. .. 191 182 186 77 133 71 81 264 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 2 2 4 5 UNDISBURSED DEBT .. .. 1,351 779 562 365 315 129 113 384 Official creditors .. .. 488 320 246 164 155 115 100 154 Private creditors .. .. 863 459 316 200 160 14 13 230 Memorandum items Concessional LDOD .. .. 1,197 2,212 2,385 2,004 1,791 1,581 1,658 1,726 Variable rate LDOD .. .. 450 1,957 1,655 1,395 1,230 1,213 1,416 1,246 Public sector LDOD .. .. 7,600 8,655 9,075 8,688 8,060 7,758 8,012 8,552 Private sector LDOD .. .. 5 28 26 26 26 26 26 24 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 7.2 8.3 7.0 Deutsche mark .. .. 0.3 0.2 0.3 0.3 0.3 .. .. .. French franc .. .. 3.6 4.0 4.1 3.6 3.6 .. .. .. Japanese yen .. .. 0.3 0.3 0.4 0.5 0.5 0.4 0.4 0.5 Pound sterling .. .. 1.4 1.0 1.0 1.0 1.0 1.0 1.0 1.1 Swiss franc .. .. 0.7 0.1 0.1 0.1 0.1 0.1 0.0 0.0 U.S.dollars .. .. 80.7 87.4 85.8 86.2 86.3 86.7 85.5 86.7 Multiple currency .. .. 0.5 0.9 0.9 0.9 0.6 0.5 0.5 0.5 Special drawing rights .. .. 0.0 0.9 1.1 1.4 1.7 1.7 1.8 1.8 All other currencies .. .. 12.5 5.2 6.3 5.9 5.9 2.4 2.4 2.5 51 ANGOLA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 252 95 528 0 0 0 0 61 Debt stock rescheduled .. .. 53 0 0 0 0 0 0 138 Principal rescheduled .. .. 160 28 3 3 3 5 18 5 Official .. .. 16 0 0 0 0 0 0 1 Private .. .. 143 28 3 3 3 5 18 4 Interest rescheduled .. .. 43 0 34 0 0 0 2 0 Official .. .. 8 0 0 0 0 0 0 0 Private .. .. 35 0 34 0 0 0 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 .. .. 0 0 0 0 0 0 9 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 1,303 -598 836 -486 -891 -174 11 452 Net flows on debt .. .. 977 418 -314 -530 -733 -325 -604 368 Net change in interest arrears .. .. 130 54 238 104 -15 132 -45 -23 Interest capitalized .. .. 43 0 34 0 0 0 2 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 -9 0 Cross-currency valuation .. .. 150 -133 59 -115 -78 -51 154 189 Residual .. .. 3 -936 820 55 -65 70 513 -82 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 6.9 7.6 7.2 7.8 4.9 5.0 4.9 3.7 Maturity (years) .. .. 10.2 5.9 8.3 2.8 4.3 4.0 5.0 6.3 Grace period (years) .. .. 2.6 0.9 0.9 0.6 1.6 0.5 2.4 0.7 Grant element (%) .. .. 14.3 6.6 11.6 2.9 11.4 9.2 14.2 15.1 Official creditors Interest (%) .. .. 5.7 3.0 1.4 0.0 0.8 0.0 0.8 1.3 Maturity (years) .. .. 14.1 22.3 29.5 0.0 39.8 0.0 49.6 34.9 Grace period (years) .. .. 3.7 4.1 1.9 0.0 10.3 0.0 10.1 8.3 Grant element (%) .. .. 22.0 46.9 59.0 0.0 80.6 0.0 83.0 68.7 Private creditors Interest (%) .. .. 7.7 7.7 7.8 7.8 5.0 5.0 5.0 3.8 Maturity (years) .. .. 7.7 5.5 5.8 2.8 3.1 4.0 4.4 4.5 Grace period (years) .. .. 1.8 0.8 0.8 0.6 1.3 0.5 2.3 0.3 Grant element (%) .. .. 9.1 5.5 6.1 2.9 9.1 9.2 13.2 11.7 Memorandum items Commitments .. .. 523 1,556 521 787 1,033 1,045 811 1,886 Official creditors .. .. 210 43 54 0 33 0 11 111 Private creditors .. .. 313 1,513 466 787 1,000 1,045 800 1,775 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 154 86 53 21 19 14 11 7 4 3 Principal 1,211 964 728 531 431 187 183 102 92 94 Interest 172 135 99 73 53 41 33 26 22 17 Official creditors Disbursements 18 29 25 21 19 14 11 7 4 3 Principal 192 191 187 156 155 118 115 87 84 87 Interest 67 61 54 47 40 34 29 24 20 16 Bilateral creditors Disbursements 9 12 7 4 2 1 0 0 0 0 Principal 181 180 176 149 147 111 107 79 74 74 Interest 64 57 50 44 37 31 26 21 17 13 Multilateral creditors Disbursements 8 17 18 17 17 13 10 7 4 3 Principal 10 11 10 7 8 8 8 8 10 14 Interest 4 4 3 3 3 3 3 3 3 3 Private creditors Disbursements 137 57 28 0 0 0 0 0 0 0 Principal 1,019 774 541 375 276 69 68 15 9 7 Interest 105 74 45 26 13 7 4 2 1 1 Commercial banks Disbursements 135 56 28 0 0 0 0 0 0 0 Principal 856 718 487 325 230 28 28 10 4 2 Interest 92 66 38 21 9 4 2 1 0 0 Other private Disbursements 1 1 0 0 0 0 0 0 0 0 Principal 163 56 54 50 45 41 40 5 5 5 Interest 12 8 7 5 4 3 2 1 1 1 52 ARGENTINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5,810 27,157 62,233 128,411 141,549 145,763 147,468 154,081 149,989 166,207 Long-term debt (LDOD) 5,171 16,774 48,676 90,555 105,151 111,870 114,097 120,100 120,554 127,687 Public and publicly guaranteed 1,880 10,181 46,876 67,144 77,285 84,550 88,188 88,472 92,075 99,300 Private nonguaranteed 3,291 6,593 1,800 23,411 27,865 27,319 25,909 31,628 28,479 28,387 Use of IMF credit 0 0 3,083 5,868 5,442 4,478 5,056 13,976 14,340 15,523 Short-term debt 639 10,383 10,473 31,988 30,956 29,415 28,315 20,004 15,095 22,997 of which interest arrears on LDOD 0 0 7,590 0 0 0 0 4 5,479 12,650 Official creditors 0 0 132 0 0 0 0 0 167 358 Private creditors 0 0 7,458 0 0 0 0 4 5,312 12,292 Memo: principal arrears on LDOD 0 0 4,372 0 0 0 0 0 8,562 17,293 Official creditors 0 0 224 0 0 0 0 0 486 1,186 Private creditors 0 0 4,147 0 0 0 0 0 8,075 16,107 Memo: export credits 0 0 8,964 10,951 5,820 4,812 4,330 3,309 3,644 4,252 TOTAL DEBT FLOWS Disbursements 907 4,708 1,587 19,539 25,289 23,322 21,126 13,448 1,673 11,155 Long-term debt 907 4,708 1,150 19,097 25,289 23,322 19,032 3,048 1,673 5,554 IMF purchases 0 0 437 442 0 0 2,094 10,399 0 5,601 Principal repayments 772 1,853 3,443 10,889 12,549 15,455 15,733 10,803 3,191 11,947 Long-term debt 772 1,853 2,745 10,410 11,892 14,631 14,453 9,622 2,448 6,204 IMF repurchases 0 0 697 479 657 824 1,280 1,181 743 5,743 Net flows on debt 135 6,327 -1,856 17,141 11,708 6,326 4,293 -5,670 -1,816 -62 of which short-term debt 0 3,472 0 8,491 -1,032 -1,541 -1,100 -8,315 -383 730 Interest payments (INT) 338 2,329 2,716 7,332 8,937 10,226 11,612 4,862 2,100 2,061 Long-term debt 338 1,337 2,208 5,724 7,099 8,467 9,686 3,410 1,231 1,258 IMF charges 0 0 277 276 264 197 195 416 677 504 Short-term debt 0 992 231 1,332 1,574 1,562 1,732 1,036 192 299 Net transfers on debt -203 3,998 -4,571 9,808 2,771 -3,900 -7,319 -10,532 -4,382 -2,123 Total debt service paid (TDS) 1,110 4,182 6,158 18,221 21,486 25,681 27,345 15,665 5,291 14,009 Long-term debt 1,110 3,190 4,953 16,135 18,992 23,099 24,139 13,032 3,679 7,462 IMF repurchases and charges 0 0 975 755 921 1,021 1,475 1,597 1,420 6,247 Short-term debt (interest only) 0 992 231 1,332 1,574 1,562 1,732 1,036 192 299 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 222 3,535 261 19,275 20,516 21,930 11,801 -4,350 256 472 Net flow of long-term debt (ex. IMF) 135 2,855 -1,595 8,687 13,397 8,691 4,579 -6,574 -775 -650 Foreign direct investment (net) 90 678 1,836 9,160 7,291 23,988 10,418 2,166 1,093 1,020 Portfolio equity flows 0 0 0 1,391 -210 -10,773 -3,227 31 -116 65 Grants (excluding technical coop.) -3 2 21 37 38 24 31 26 54 37 Memo: technical coop. grants 12 35 71 77 72 91 77 66 57 67 official net resource flows 49 60 477 -40 1,737 753 100 1,126 -630 -696 private net resource flows 173 3,475 -215 19,314 18,780 21,177 11,701 -5,476 886 1,169 NET TRANSFERS -116 1,593 -2,584 10,811 10,652 11,363 -971 -9,157 -1,515 -2,265 Interest on long-term debt 338 1,337 2,208 5,724 7,099 8,467 9,686 3,410 1,231 1,258 Profit remittances on FDI 0 605 637 2,739 2,765 2,100 3,086 1,397 540 1,480 Memo: official net transfers 15 -86 21 -1,293 540 -647 -1,494 -354 -1,708 -1,702 private net transfers -132 1,679 -2,604 12,105 10,112 12,010 523 -8,803 192 -563 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 30,396 76,287 135,150 286,657 291,561 276,066 276,682 260,927 95,544 122,171 Exports of goods, serv. & inc. (XGS) .. 11,202 16,654 36,515 37,384 34,064 38,645 36,497 31,972 36,988 Worker remit. & comp. of employees 0 56 0 66 69 64 86 190 187 253 Imports of goods & services (MGS) .. 15,999 13,100 49,207 52,315 46,437 47,987 40,624 23,231 29,516 International reserves (RES) 682 9,297 6,222 22,425 24,856 26,350 25,152 14,556 10,492 14,157 Current account balance .. -4,774 4,552 -12,219 -14,510 -11,948 -8,989 -3,853 9,142 7,838 4. DEBT INDICATORS EDT / XGS (%) .. 242.4 373.7 351.7 378.6 427.9 381.6 422.2 469.1 449.3 EDT / GNI (%) 19.1 35.6 46.0 44.8 48.5 52.8 53.3 59.1 157.0 136.0 TDS / XGS (%) .. 37.3 37.0 49.9 57.5 75.4 70.8 42.9 16.6 37.9 INT / XGS (%) .. 20.8 16.3 20.1 23.9 30.0 30.0 13.3 6.6 5.6 INT / GNI (%) 1.1 3.1 2.0 2.6 3.1 3.7 4.2 1.9 2.2 1.7 RES / EDT (%) 11.7 34.2 10.0 17.5 17.6 18.1 17.1 9.4 7.0 8.5 RES / MGS (months) .. 7.0 5.7 5.5 5.7 6.8 6.3 4.3 5.4 5.8 Short-term / EDT (%) 11.0 38.2 16.8 24.9 21.9 20.2 19.2 13.0 10.1 13.8 Concessional / EDT (%) 2.9 1.3 0.8 1.8 1.6 1.4 1.1 0.9 0.8 0.8 Multilateral / EDT (%) 4.8 4.0 8.0 8.0 9.4 10.5 11.0 11.6 11.2 9.9 53 ARGENTINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5,171 16,774 48,676 90,555 105,151 111,870 114,097 120,100 120,554 127,687 Public and publicly guaranteed 1,880 10,181 46,876 67,144 77,285 84,550 88,188 88,472 92,075 99,300 Official creditors 637 1,903 11,226 18,352 20,492 20,991 20,534 21,211 21,305 21,373 Multilateral 281 1,087 5,007 10,268 13,317 15,324 16,235 17,890 16,727 16,381 Concessional 1 36 30 5 3 1 0 0 0 0 Bilateral 356 816 6,219 8,084 7,175 5,667 4,299 3,320 4,579 4,992 Concessional 166 329 498 2,270 2,197 2,056 1,686 1,344 1,182 1,281 Private creditors 1,243 8,278 35,650 48,792 56,794 63,559 67,653 67,262 70,770 77,928 Bonds 386 832 11,514 47,563 55,696 62,771 67,111 66,828 70,231 77,316 Commercial banks 121 6,065 22,631 1,059 982 718 503 414 516 592 Other private 735 1,381 1,504 171 116 71 39 20 23 19 Private nonguaranteed 3,291 6,593 1,800 23,411 27,865 27,319 25,909 31,628 28,479 28,387 Bonds 0 0 21 10,311 11,873 12,130 11,138 9,834 9,834 9,834 Commercial banks and other 3,291 6,593 1,779 13,100 15,992 15,189 14,771 21,794 18,645 18,553 Memo: IBRD 181 404 2,609 5,494 7,188 8,314 8,789 9,440 8,513 7,508 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 907 4,708 1,150 19,097 25,289 23,322 19,032 3,048 1,673 5,554 Public and publicly guaranteed 482 2,839 1,129 11,868 15,289 15,373 14,550 2,821 1,673 4,614 Official creditors 162 276 910 1,887 3,504 2,814 1,937 2,821 1,671 4,614 Multilateral 64 207 736 1,673 3,487 2,798 1,923 2,811 835 4,613 Concessional 0 6 0 0 0 0 0 0 0 0 Bilateral 98 69 174 214 17 16 13 10 836 0 Concessional 46 13 149 97 11 11 11 9 0 0 Private creditors 321 2,563 219 9,981 11,785 12,560 12,613 0 2 0 Bonds 119 136 0 9,927 11,768 12,542 12,611 0 0 0 Commercial banks 53 2,173 183 54 17 18 2 0 2 0 Other private 149 253 36 0 0 0 0 0 0 0 Private nonguaranteed 424 1,869 21 7,229 10,001 7,949 4,482 227 0 940 Bonds 0 0 21 3,084 3,976 1,330 1,408 169 0 0 Commercial banks and other 424 1,869 0 4,145 6,025 6,619 3,075 58 0 940 Memo: IBRD 32 71 405 797 2,029 1,573 1,019 1,329 424 1,963 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 772 1,853 2,745 10,410 11,892 14,631 14,453 9,622 2,448 6,204 Public and publicly guaranteed 344 1,146 2,745 6,943 6,298 5,852 8,950 5,405 2,376 5,373 Official creditors 110 218 454 1,964 1,806 2,084 1,868 1,721 2,356 5,347 Multilateral 16 121 405 568 669 770 825 968 2,266 5,319 Concessional 0 4 2 2 2 2 1 0 0 0 Bilateral 94 97 49 1,396 1,137 1,314 1,043 753 90 28 Concessional 11 34 0 144 205 254 262 260 57 9 Private creditors 233 927 2,292 4,979 4,492 3,767 7,082 3,684 20 27 Bonds 20 178 878 4,738 4,244 3,515 6,863 3,569 0 18 Commercial banks 69 481 1,342 153 178 209 189 97 13 5 Other private 145 268 72 88 70 44 31 19 6 4 Private nonguaranteed 428 707 0 3,468 5,594 8,780 5,503 4,217 73 831 Bonds 0 0 0 1,468 2,462 2,357 2,309 1,058 0 0 Commercial banks and other 428 707 0 2,000 3,133 6,423 3,194 3,159 73 831 Memo: IBRD 5 34 233 299 350 445 538 676 1,353 2,968 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 135 2,855 -1,595 8,687 13,397 8,691 4,579 -6,574 -775 -650 Public and publicly guaranteed 139 1,693 -1,616 4,926 8,991 9,522 5,600 -2,584 -703 -760 Official creditors 52 58 456 -77 1,698 729 69 1,100 -684 -733 Multilateral 47 86 332 1,105 2,818 2,028 1,098 1,843 -1,431 -705 Concessional 0 2 -2 -2 -2 -2 -1 0 0 0 Bilateral 5 -29 124 -1,181 -1,120 -1,298 -1,029 -743 746 -28 Concessional 35 -20 149 -48 -194 -243 -251 -251 -57 -9 Private creditors 87 1,635 -2,072 5,002 7,292 8,792 5,531 -3,684 -18 -26 Bonds 99 -42 -878 5,190 7,523 9,027 5,748 -3,569 0 -18 Commercial banks -16 1,692 -1,159 -99 -161 -191 -187 -97 -12 -5 Other private 4 -16 -36 -88 -70 -44 -31 -19 -6 -4 Private nonguaranteed -4 1,162 21 3,761 4,406 -831 -1,021 -3,989 -73 109 Bonds 0 0 21 1,616 1,514 -1,027 -901 -889 0 0 Commercial banks and other -4 1,162 0 2,145 2,892 196 -120 -3,100 -73 109 Memo: IBRD 27 37 172 498 1,678 1,128 481 653 -928 -1,005 IDA 0 0 0 0 0 0 0 0 0 0 54 ARGENTINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 338 1,337 2,208 5,724 7,099 8,467 9,686 3,410 1,231 1,258 Public and publicly guaranteed 121 841 2,064 4,494 5,428 6,276 7,645 2,179 1,175 1,139 Official creditors 33 146 456 1,254 1,197 1,401 1,593 1,480 1,078 1,006 Multilateral 18 97 375 692 728 1,022 1,256 1,208 1,006 983 Concessional 0 1 1 0 0 0 0 0 0 0 Bilateral 16 49 81 562 469 379 338 271 71 22 Concessional 4 15 0 103 100 88 92 67 24 1 Private creditors 88 695 1,608 3,240 4,230 4,875 6,052 699 97 134 Bonds 23 80 973 3,155 4,129 4,805 5,909 568 0 132 Commercial banks 9 504 621 71 92 63 138 128 95 1 Other private 56 111 13 14 10 7 4 2 2 0 Private nonguaranteed 217 496 144 1,230 1,672 2,191 2,041 1,231 56 118 Bonds 0 0 0 806 907 1,157 1,109 1,033 0 0 Commercial banks and other 217 496 144 424 765 1,035 932 198 56 118 Memo: IBRD 11 37 181 335 375 537 701 713 517 382 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -203 1,518 -3,803 2,962 6,298 224 -5,107 -9,983 -2,006 -1,908 Public and publicly guaranteed 18 852 -3,680 432 3,563 3,246 -2,045 -4,763 -1,877 -1,899 Official creditors 18 -88 0 -1,330 501 -671 -1,524 -380 -1,762 -1,739 Multilateral 30 -11 -44 412 2,091 1,006 -157 635 -2,437 -1,688 Concessional 0 1 -2 -2 -2 -2 -1 0 0 0 Bilateral -11 -77 43 -1,743 -1,589 -1,677 -1,367 -1,014 675 -50 Concessional 31 -35 149 -150 -294 -331 -344 -319 -81 -10 Private creditors 0 940 -3,680 1,762 3,062 3,917 -521 -4,383 -115 -160 Bonds 77 -122 -1,851 2,035 3,395 4,222 -161 -4,137 0 -150 Commercial banks -25 1,189 -1,780 -170 -252 -254 -325 -225 -107 -6 Other private -52 -127 -50 -102 -80 -50 -35 -21 -8 -5 Private nonguaranteed -221 666 -123 2,531 2,734 -3,022 -3,062 -5,220 -129 -9 Bonds 0 0 21 810 607 -2,184 -2,010 -1,922 0 0 Commercial banks and other -221 666 -144 1,721 2,127 -838 -1,052 -3,298 -129 -9 Memo: IBRD 16 0 -10 162 1,303 591 -220 -59 -1,445 -1,387 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 1,110 3,190 4,953 16,135 18,992 23,099 24,139 13,032 3,679 7,462 Public and publicly guaranteed 464 1,987 4,809 11,437 11,725 12,128 16,595 7,584 3,550 6,513 Official creditors 143 364 910 3,218 3,003 3,485 3,461 3,200 3,433 6,352 Multilateral 34 219 780 1,260 1,397 1,792 2,080 2,176 3,272 6,302 Concessional 0 5 2 2 2 2 1 0 0 0 Bilateral 109 146 130 1,957 1,606 1,693 1,380 1,024 161 51 Concessional 15 48 0 247 305 341 354 328 81 10 Private creditors 321 1,623 3,899 8,219 8,723 8,643 13,134 4,383 117 160 Bonds 42 258 1,851 7,893 8,373 8,320 12,772 4,137 0 150 Commercial banks 78 985 1,963 224 269 272 327 225 109 6 Other private 201 380 86 102 80 50 35 21 8 5 Private nonguaranteed 646 1,203 144 4,698 7,266 10,971 7,544 5,448 129 949 Bonds 0 0 0 2,274 3,369 3,514 3,418 2,091 0 0 Commercial banks and other 646 1,203 144 2,424 3,898 7,457 4,126 3,356 129 949 Memo: IBRD 16 71 414 635 725 982 1,239 1,388 1,870 3,350 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 576 2,176 2,355 6,434 9,088 9,045 5,731 6,728 5,809 4,572 Official creditors 325 1,122 1,936 6,022 8,965 7,928 5,367 6,560 5,608 4,340 Private creditors 252 1,054 418 412 123 1,118 364 168 201 233 Memorandum items Concessional LDOD 167 365 529 2,274 2,200 2,056 1,686 1,344 1,182 1,281 Variable rate LDOD 3,291 12,417 28,167 45,532 54,173 55,838 53,304 57,754 53,456 52,932 Public sector LDOD 1,780 7,979 44,707 67,063 77,221 84,488 88,136 88,431 92,038 99,268 Private sector LDOD 3,390 8,795 3,969 23,492 27,929 27,381 25,961 31,670 28,516 28,419 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 24.3 28.2 31.4 Deutsche mark 15.7 9.5 10.4 13.3 14.0 10.4 8.4 .. .. .. French franc 1.8 1.2 1.5 0.7 0.7 0.4 0.4 .. .. .. Japanese yen 0.2 5.8 6.7 6.8 6.2 5.7 5.7 4.0 4.3 4.4 Pound sterling 2.9 1.6 1.1 0.8 0.7 0.6 0.5 0.3 0.4 0.4 Swiss franc 1.9 3.4 2.2 1.0 0.7 0.5 0.4 0.3 0.4 0.4 U.S.dollars 47.7 64.5 54.5 61.7 63.8 64.7 63.5 68.4 64.4 61.3 Multiple currency 17.7 10.3 19.5 10.5 4.0 3.4 2.9 2.6 2.3 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 12.0 3.6 4.1 5.2 9.8 14.4 18.1 0.1 0.1 0.1 55 ARGENTINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 932 0 0 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 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 0 Debt stock reduction .. .. 7,202 2,700 2,729 767 3,434 191 586 0 of which debt buyback .. .. 1,232 2,085 2,100 667 2,745 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. -3,024 17,033 13,138 4,214 1,705 6,612 -4,092 16,218 Net flows on debt 135 6,327 -1,856 17,141 11,708 6,326 4,293 -5,670 -1,816 -62 Net change in interest arrears .. .. 1,949 0 0 0 0 4 5,475 7,172 Interest capitalized .. .. 420 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -5,970 -615 -629 -100 -689 -191 -586 0 Cross-currency valuation .. .. 1,346 -4,175 734 -2,554 -2,801 -2,534 6,371 6,466 Residual .. .. 1,086 4,682 1,325 541 901 15,004 -3,450 2,643 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.3 13.7 6.4 8.2 8.9 9.5 9.9 5.9 3.4 3.3 Maturity (years) 11.9 8.6 17.1 14.5 12.2 8.8 11.7 14.4 11.7 9.7 Grace period (years) 2.9 4.5 3.5 12.1 10.1 7.4 11.5 4.2 4.6 3.5 Grant element (%) 12.6 -17.5 19.3 8.5 5.9 0.2 -2.7 20.9 28.2 31.8 Official creditors Interest (%) 7.5 6.1 6.5 6.7 8.5 7.9 7.2 5.9 3.4 3.3 Maturity (years) 16.7 14.5 19.2 16.3 9.5 11.1 18.2 14.4 11.7 9.7 Grace period (years) 3.4 5.2 4.0 4.1 4.0 3.3 4.8 4.2 4.6 3.5 Grant element (%) 11.4 20.2 20.6 18.4 7.6 10.3 17.2 20.9 28.2 31.8 Private creditors Interest (%) 7.3 14.3 6.0 8.5 9.1 9.7 10.0 0.0 0.0 0.0 Maturity (years) 10.6 8.2 8.4 14.0 13.8 8.4 11.6 0.0 0.0 0.0 Grace period (years) 2.7 4.4 1.3 13.9 13.8 8.1 11.6 0.0 0.0 0.0 Grant element (%) 13.0 -20.5 14.1 6.2 4.8 -1.4 -3.0 0.0 0.0 0.0 Memorandum items Commitments 494 3,062 572 15,724 18,777 15,712 11,985 3,844 455 3,807 Official creditors 105 225 460 2,997 6,996 2,142 196 3,844 455 3,807 Private creditors 389 2,837 113 12,727 11,781 13,570 11,789 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,958 962 651 394 207 95 40 13 4 1 Principal 17,394 12,491 9,605 11,911 13,759 7,545 5,202 3,251 1,818 952 Interest 7,633 6,700 6,036 5,401 4,433 3,642 3,346 3,075 2,946 2,857 Official creditors Disbursements 1,791 933 639 394 207 95 40 13 4 1 Principal 2,573 2,644 2,944 3,269 2,734 1,756 1,564 1,296 1,108 944 Interest 965 888 784 641 486 380 310 251 203 163 Bilateral creditors Disbursements 201 107 51 22 9 5 3 3 3 1 Principal 1,098 1,072 632 590 477 105 59 59 26 17 Interest 198 160 118 77 38 13 8 5 2 1 Multilateral creditors Disbursements 1,590 825 588 372 198 91 37 10 2 0 Principal 1,476 1,572 2,312 2,678 2,257 1,651 1,506 1,238 1,082 928 Interest 767 728 666 564 448 367 302 246 202 162 Private creditors Disbursements 166 29 12 0 0 0 0 0 0 0 Principal 14,821 9,847 6,660 8,643 11,025 5,790 3,638 1,955 710 8 Interest 6,668 5,812 5,253 4,761 3,947 3,262 3,036 2,824 2,743 2,693 Commercial banks Disbursements 83 29 12 0 0 0 0 0 0 0 Principal 139 125 82 80 21 20 18 17 0 0 Interest 33 26 17 11 6 4 2 1 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 14,681 9,723 6,578 8,563 11,005 5,770 3,620 1,938 710 8 Interest 6,634 5,786 5,236 4,749 3,941 3,259 3,034 2,823 2,743 2,693 56 ARMENIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 638 804 902 916 950 1,047 1,127 Long-term debt (LDOD) .. .. .. 484 569 651 697 736 838 899 Public and publicly guaranteed .. .. .. 484 569 651 675 715 817 875 Private nonguaranteed .. .. .. 0 0 0 21 20 21 24 Use of IMF credit .. .. .. 132 190 201 175 173 195 215 Short-term debt .. .. .. 22 45 49 44 42 14 14 of which interest arrears on LDOD .. .. .. 0 0 0 6 6 0 0 Official creditors .. .. .. 0 0 0 6 6 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0 Memo: principal arrears on LDOD .. .. .. 53 0 0 4 12 0 0 Official creditors .. .. .. 53 0 0 4 12 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0 Memo: export credits .. .. .. 0 0 0 0 19 22 24 TOTAL DEBT FLOWS Disbursements .. .. .. 131 164 138 84 96 115 122 Long-term debt .. .. .. 108 112 109 84 83 89 94 IMF purchases .. .. .. 23 51 29 0 13 26 28 Principal repayments .. .. .. 8 41 39 31 33 48 83 Long-term debt .. .. .. 8 40 26 15 24 30 56 IMF repurchases .. .. .. 0 1 13 16 9 18 26 Net flows on debt .. .. .. 144 146 103 42 60 44 40 of which short-term debt .. .. .. 21 23 4 -11 -2 -23 0 Interest payments (INT) .. .. .. 16 21 20 15 21 22 12 Long-term debt .. .. .. 13 15 14 9 18 19 11 IMF charges .. .. .. 3 3 3 3 2 1 1 Short-term debt .. .. .. 1 2 2 2 1 1 0 Net transfers on debt .. .. .. 128 125 83 28 39 22 27 Total debt service paid (TDS) .. .. .. 24 61 59 46 55 70 95 Long-term debt .. .. .. 20 56 40 25 42 49 67 IMF repurchases and charges .. .. .. 3 4 16 19 11 20 28 Short-term debt (interest only) .. .. .. 1 2 2 2 1 1 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 187 347 252 235 173 240 212 Net flow of long-term debt (ex. IMF) .. .. .. 100 72 83 69 59 59 38 Foreign direct investment (net) .. .. .. 52 221 122 104 70 111 121 Portfolio equity flows .. .. .. 1 1 0 0 1 0 0 Grants (excluding technical coop.) .. .. .. 34 54 47 61 44 71 53 Memo: technical coop. grants .. .. .. 15 26 56 94 88 123 94 official net resource flows .. .. .. 135 121 117 111 103 134 97 private net resource flows .. .. .. 52 227 136 124 70 106 115 NET TRANSFERS .. .. .. 164 312 224 203 152 208 166 Interest on long-term debt .. .. .. 13 15 14 9 18 19 11 Profit remittances on FDI .. .. .. 11 20 14 22 4 13 35 Memo: official net transfers .. .. .. 122 105 102 102 87 116 87 private net transfers .. .. .. 41 207 121 102 65 92 79 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 1,738 1,954 1,900 1,964 2,182 2,464 2,896 Exports of goods, serv. & inc. (XGS) .. .. .. 478 473 492 560 653 844 1,078 Worker remit. & comp. of employees .. .. .. 136 92 95 87 94 131 168 Imports of goods & services (MGS) .. .. .. 993 1,059 958 1,017 1,017 1,155 1,477 International reserves (RES) .. .. .. 239 336 331 331 333 440 510 Current account balance .. .. .. -307 -418 -307 -278 -201 -148 -191 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 133.6 169.9 183.4 163.7 145.6 124.0 104.6 EDT / GNI (%) .. .. .. 36.7 41.2 47.5 46.6 43.6 42.5 38.9 TDS / XGS (%) .. .. .. 5.0 13.0 11.9 8.2 8.4 8.3 8.8 INT / XGS (%) .. .. .. 3.4 4.4 4.0 2.6 3.2 2.6 1.2 INT / GNI (%) .. .. .. 0.9 1.1 1.0 0.7 1.0 0.9 0.4 RES / EDT (%) .. .. .. 37.5 41.8 36.7 36.1 35.1 42.1 45.3 RES / MGS (months) .. .. .. 2.9 3.8 4.1 3.9 3.9 4.6 4.1 Short-term / EDT (%) .. .. .. 3.4 5.6 5.5 4.8 4.4 1.3 1.2 Concessional / EDT (%) .. .. .. 40.5 43.2 46.6 50.1 53.8 61.0 70.3 Multilateral / EDT (%) .. .. .. 57.7 49.8 50.5 52.9 55.8 59.3 66.3 57 ARMENIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 484 569 651 697 736 838 899 Public and publicly guaranteed .. .. .. 484 569 651 675 715 817 875 Official creditors .. .. .. 484 564 633 658 698 807 873 Multilateral .. .. .. 369 400 456 485 530 621 747 Concessional .. .. .. 242 300 370 407 448 556 697 Bilateral .. .. .. 116 163 177 173 168 186 126 Concessional .. .. .. 17 47 51 52 63 83 95 Private creditors .. .. .. 0 5 19 17 17 11 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 5 5 5 5 0 0 Other private .. .. .. 0 0 14 12 12 11 2 Private nonguaranteed .. .. .. 0 0 0 21 20 21 24 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 21 20 21 24 Memo: IBRD .. .. .. 10 10 9 8 7 8 8 IDA .. .. .. 240 293 352 388 428 530 662 DISBURSEMENTS .. .. .. 108 112 109 84 83 89 94 Public and publicly guaranteed .. .. .. 108 112 109 63 83 89 90 Official creditors .. .. .. 108 107 95 62 83 87 90 Multilateral .. .. .. 81 50 79 58 71 72 84 Concessional .. .. .. 77 48 76 56 58 70 84 Bilateral .. .. .. 27 57 16 4 12 15 6 Concessional .. .. .. 1 30 2 4 12 15 6 Private creditors .. .. .. 0 5 14 1 0 2 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 5 0 0 0 0 0 Other private .. .. .. 0 0 14 1 0 2 0 Private nonguaranteed .. .. .. 0 0 0 21 0 0 4 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 21 0 0 4 Memo: IBRD .. .. .. 1 0 0 0 0 0 0 IDA .. .. .. 76 43 66 54 55 66 77 PRINCIPAL REPAYMENTS .. .. .. 8 40 26 15 24 30 56 Public and publicly guaranteed .. .. .. 8 40 26 15 24 30 55 Official creditors .. .. .. 8 40 26 13 24 24 46 Multilateral .. .. .. 5 30 13 8 8 22 18 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2 10 13 5 16 2 28 Concessional .. .. .. 0 0 5 3 0 1 2 Private creditors .. .. .. 0 0 0 2 0 6 9 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 5 0 Other private .. .. .. 0 0 0 2 0 1 9 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 0 1 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 100 72 83 69 59 59 38 Public and publicly guaranteed .. .. .. 100 72 83 48 59 59 36 Official creditors .. .. .. 100 67 69 50 59 63 44 Multilateral .. .. .. 76 20 66 51 63 51 66 Concessional .. .. .. 77 48 76 56 58 70 84 Bilateral .. .. .. 25 47 3 -1 -4 13 -22 Concessional .. .. .. 1 30 -3 1 12 14 4 Private creditors .. .. .. 0 5 14 -2 0 -4 -9 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 5 0 0 0 -5 0 Other private .. .. .. 0 0 14 -2 0 1 -9 Private nonguaranteed .. .. .. 0 0 0 21 0 0 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 21 0 0 2 Memo: IBRD .. .. .. 1 0 0 0 0 0 -1 IDA .. .. .. 76 43 66 54 55 66 77 58 ARMENIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 13 15 14 9 18 19 11 Public and publicly guaranteed .. .. .. 13 15 14 9 17 19 10 Official creditors .. .. .. 13 15 14 9 16 18 10 Multilateral .. .. .. 10 10 7 8 8 7 7 Concessional .. .. .. 1 2 2 3 3 4 4 Bilateral .. .. .. 3 6 7 1 8 11 4 Concessional .. .. .. 0 0 1 1 1 1 1 Private creditors .. .. .. 0 0 0 0 1 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 1 0 0 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 0 0 0 1 1 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 1 1 1 Memo: IBRD .. .. .. 1 1 1 0 0 0 0 IDA .. .. .. 1 2 2 3 3 3 4 NET TRANSFERS ON DEBT .. .. .. 88 57 69 60 41 39 27 Public and publicly guaranteed .. .. .. 88 57 69 38 42 40 25 Official creditors .. .. .. 88 52 55 40 43 45 34 Multilateral .. .. .. 66 10 59 43 55 44 59 Concessional .. .. .. 76 47 74 53 54 67 80 Bilateral .. .. .. 22 42 -4 -2 -12 1 -26 Concessional .. .. .. 1 30 -4 1 11 13 3 Private creditors .. .. .. 0 5 14 -2 -1 -4 -9 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 5 0 0 -1 -5 0 Other private .. .. .. 0 0 14 -2 0 1 -9 Private nonguaranteed .. .. .. 0 0 0 21 -1 -1 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 21 -1 -1 1 Memo: IBRD .. .. .. 0 -1 -1 -1 -1 -1 -1 IDA .. .. .. 75 41 64 52 52 63 73 DEBT SERVICE (LTDS) .. .. .. 20 56 40 25 42 49 67 Public and publicly guaranteed .. .. .. 20 56 40 25 41 48 65 Official creditors .. .. .. 20 55 40 22 40 42 57 Multilateral .. .. .. 15 40 20 16 16 29 25 Concessional .. .. .. 1 2 2 3 3 4 4 Bilateral .. .. .. 5 15 20 6 24 13 32 Concessional .. .. .. 0 1 6 4 1 2 3 Private creditors .. .. .. 0 0 0 3 1 6 9 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 1 5 0 Other private .. .. .. 0 0 0 2 0 1 9 Private nonguaranteed .. .. .. 0 0 0 0 1 1 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 1 1 2 Memo: IBRD .. .. .. 1 1 1 1 1 1 1 IDA .. .. .. 1 2 2 3 3 3 4 UNDISBURSED DEBT .. .. .. 196 297 290 272 280 208 183 Official creditors .. .. .. 191 267 264 256 263 208 183 Private creditors .. .. .. 5 30 26 16 17 0 0 Memorandum items Concessional LDOD .. .. .. 259 347 421 459 511 638 793 Variable rate LDOD .. .. .. 152 134 130 142 132 110 91 Public sector LDOD .. .. .. 484 569 651 675 715 817 875 Private sector LDOD .. .. .. 0 0 0 21 20 21 24 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 5.4 5.8 7.3 Deutsche mark .. .. .. 0.0 0.0 0.0 0.4 .. .. .. French franc .. .. .. 0.5 0.5 0.4 0.4 .. .. .. Japanese yen .. .. .. 0.0 0.0 0.0 0.0 0.1 0.2 0.2 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 .. .. .. 86.0 91.3 92.5 93.3 92.5 92.2 90.7 Multiple currency .. .. .. 2.0 1.7 1.4 1.2 1.0 0.9 0.9 Special drawing rights .. .. .. 0.4 0.7 1.1 1.0 0.9 0.9 0.9 All other currencies .. .. .. 11.0 5.8 4.6 3.6 0.0 0.0 0.0 59 ARMENIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 74 31 0 14 0 9 0 Debt stock rescheduled .. .. .. 74 31 0 0 0 10 0 Principal rescheduled .. .. .. 0 0 0 14 0 0 0 Official .. .. .. 0 0 0 14 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 2 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 0 46 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. .. 118 166 98 15 34 97 81 Net flows on debt .. .. .. 144 146 103 42 60 44 40 Net change in interest arrears .. .. .. 0 0 0 6 0 -6 0 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 -2 -46 Cross-currency valuation .. .. .. -90 -107 44 -31 -24 58 83 Residual .. .. .. 64 126 -49 -2 -2 2 4 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 2.1 1.4 0.8 0.8 0.8 0.8 0.8 Maturity (years) .. .. .. 28.7 26.7 35.4 35.6 35.7 38.0 39.7 Grace period (years) .. .. .. 8.4 8.4 9.8 10.3 9.3 10.3 10.4 Grant element (%) .. .. .. 62.7 63.2 77.5 79.1 74.2 80.0 80.7 Official creditors Interest (%) .. .. .. 2.0 1.7 0.9 0.8 0.7 0.8 0.8 Maturity (years) .. .. .. 29.3 29.8 37.3 35.6 36.0 38.0 39.7 Grace period (years) .. .. .. 8.4 8.8 10.1 10.3 9.4 10.3 10.4 Grant element (%) .. .. .. 63.9 66.3 78.6 79.1 74.9 80.0 80.7 Private creditors Interest (%) .. .. .. 6.0 0.0 0.0 0.0 10.0 0.0 0.0 Maturity (years) .. .. .. 5.5 6.4 17.0 0.0 1.0 0.0 0.0 Grace period (years) .. .. .. 5.5 5.4 7.0 0.0 1.0 0.0 0.0 Grant element (%) .. .. .. 16.2 43.1 66.8 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 195 223 105 71 109 15 45 Official creditors .. .. .. 190 193 95 71 108 15 45 Private creditors .. .. .. 5 30 10 0 1 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 55 41 31 22 15 9 5 2 2 1 Principal 22 27 32 30 25 24 27 27 28 28 Interest 10 10 10 9 9 8 8 7 7 7 Official creditors Disbursements 55 41 31 22 15 9 5 2 2 1 Principal 18 22 27 24 20 24 27 27 28 28 Interest 9 9 9 9 8 8 8 7 7 7 Bilateral creditors Disbursements 30 18 10 5 3 1 1 0 0 0 Principal 9 10 11 9 8 8 8 6 6 6 Interest 3 3 3 3 3 2 2 2 2 1 Multilateral creditors Disbursements 25 22 21 16 12 8 5 2 2 1 Principal 9 12 15 15 12 16 19 21 22 22 Interest 6 6 6 6 6 6 6 6 5 5 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4 5 5 5 5 0 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 4 5 5 5 5 0 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 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 508 707 1,045 1,273 1,266 1,483 1,681 Long-term debt (LDOD) .. .. .. 237 384 608 781 868 1,063 1,208 Public and publicly guaranteed .. .. .. 237 312 500 682 773 991 1,132 Private nonguaranteed .. .. .. 0 72 108 99 95 72 76 Use of IMF credit .. .. .. 267 321 407 336 295 279 259 Short-term debt .. .. .. 4 1 29 156 103 141 213 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 25 25 0 0 0 0 Official creditors .. .. .. 0 25 25 0 0 0 0 Private creditors .. .. .. 0 0 0 0 0 0 0 Memo: export credits .. .. .. 18 65 159 348 271 163 145 TOTAL DEBT FLOWS Disbursements .. .. .. 197 181 386 278 188 220 227 Long-term debt .. .. .. 93 140 276 278 178 210 191 IMF purchases .. .. .. 105 41 110 0 10 10 36 Principal repayments .. .. .. 58 3 58 123 93 143 217 Long-term debt .. .. .. 58 3 42 71 53 94 139 IMF repurchases .. .. .. 0 0 16 51 39 49 79 Net flows on debt .. .. .. 131 176 356 283 42 116 81 of which short-term debt .. .. .. -9 -3 28 127 -53 38 72 Interest payments (INT) .. .. .. 20 21 28 58 39 27 28 Long-term debt .. .. .. 12 11 15 39 24 17 19 IMF charges .. .. .. 8 10 11 14 10 6 3 Short-term debt .. .. .. 0 0 1 5 5 5 5 Net transfers on debt .. .. .. 111 155 328 225 2 89 54 Total debt service paid (TDS) .. .. .. 78 24 85 181 132 170 245 Long-term debt .. .. .. 69 14 56 110 77 111 158 IMF repurchases and charges .. .. .. 8 10 28 65 50 55 82 Short-term debt (interest only) .. .. .. 0 0 1 5 5 5 5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 1,185 1,196 798 387 399 1,575 3,391 Net flow of long-term debt (ex. IMF) .. .. .. 35 137 234 207 124 116 52 Foreign direct investment (net) .. .. .. 1,115 1,023 510 130 227 1,392 3,285 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 35 36 54 50 48 66 53 Memo: technical coop. grants .. .. .. 16 32 22 30 42 75 69 official net resource flows .. .. .. 63 106 192 198 150 244 155 private net resource flows .. .. .. 1,123 1,090 606 190 249 1,330 3,235 NET TRANSFERS .. .. .. 1,166 1,177 781 31 46 1,201 2,949 Interest on long-term debt .. .. .. 12 11 15 39 24 17 19 Profit remittances on FDI .. .. .. 7 8 2 317 329 356 422 Memo: official net transfers .. .. .. 51 99 184 165 134 233 143 private net transfers .. .. .. 1,116 1,078 597 -133 -88 968 2,806 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 3,953 4,433 4,536 4,977 5,375 5,851 6,695 Exports of goods, serv. & inc. (XGS) .. .. .. 1,173 1,048 1,348 2,231 2,514 2,867 3,263 Worker remit. & comp. of employees .. .. .. 0 6 54 57 104 182 171 Imports of goods & services (MGS) .. .. .. 2,133 2,476 1,975 2,415 2,539 3,543 5,264 International reserves (RES) .. .. .. 467 449 673 680 897 722 821 Current account balance .. .. .. -916 -1,365 -600 -168 -52 -768 -2,021 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 43.3 67.4 77.5 57.0 50.4 51.7 51.5 EDT / GNI (%) .. .. .. 12.9 15.9 23.0 25.6 23.6 25.4 25.1 TDS / XGS (%) .. .. .. 6.6 2.3 6.3 8.1 5.3 5.9 7.5 INT / XGS (%) .. .. .. 1.7 2.0 2.1 2.6 1.6 1.0 0.8 INT / GNI (%) .. .. .. 0.5 0.5 0.6 1.2 0.7 0.5 0.4 RES / EDT (%) .. .. .. 92.0 63.5 64.4 53.4 70.8 48.6 48.8 RES / MGS (months) .. .. .. 2.6 2.2 4.1 3.4 4.2 2.4 1.9 Short-term / EDT (%) .. .. .. 0.8 0.2 2.8 12.3 8.1 9.5 12.7 Concessional / EDT (%) .. .. .. 23.2 23.0 28.8 30.9 36.0 46.2 52.7 Multilateral / EDT (%) .. .. .. 29.9 28.2 27.1 25.1 27.0 29.2 32.6 61 AZERBAIJAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 237 384 608 781 868 1,063 1,208 Public and publicly guaranteed .. .. .. 237 312 500 682 773 991 1,132 Official creditors .. .. .. 229 306 448 569 638 867 1,052 Multilateral .. .. .. 152 199 283 319 342 434 547 Concessional .. .. .. 116 145 206 227 249 331 447 Bilateral .. .. .. 77 107 164 250 296 433 505 Concessional .. .. .. 3 17 95 166 207 354 439 Private creditors .. .. .. 8 5 52 113 135 124 80 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 27 65 99 100 66 Other private .. .. .. 8 5 25 48 36 23 14 Private nonguaranteed .. .. .. 0 72 108 99 95 72 76 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 72 108 99 95 72 76 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 116 141 199 216 235 314 422 DISBURSEMENTS .. .. .. 93 140 276 278 178 210 191 Public and publicly guaranteed .. .. .. 93 70 226 273 170 208 137 Official creditors .. .. .. 85 70 171 209 123 208 137 Multilateral .. .. .. 82 42 94 55 41 79 91 Concessional .. .. .. 55 24 64 32 32 60 81 Bilateral .. .. .. 3 28 77 154 82 129 46 Concessional .. .. .. 3 14 72 86 68 129 46 Private creditors .. .. .. 8 0 55 64 47 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 28 38 47 0 0 Other private .. .. .. 8 0 27 26 0 0 0 Private nonguaranteed .. .. .. 0 69 50 6 7 2 54 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 69 50 6 7 2 54 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 55 21 60 27 28 57 75 PRINCIPAL REPAYMENTS .. .. .. 58 3 42 71 53 94 139 Public and publicly guaranteed .. .. .. 58 3 41 64 44 60 88 Official creditors .. .. .. 58 0 32 62 22 30 35 Multilateral .. .. .. 58 0 7 8 10 11 14 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 25 53 12 19 22 Concessional .. .. .. 0 0 0 0 4 9 9 Private creditors .. .. .. 0 3 8 2 22 30 53 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 12 17 43 Other private .. .. .. 0 3 8 2 10 14 10 Private nonguaranteed .. .. .. 0 0 1 7 10 34 50 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 1 7 10 34 50 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 35 137 234 207 124 116 52 Public and publicly guaranteed .. .. .. 35 68 185 209 127 148 49 Official creditors .. .. .. 27 70 138 147 102 178 102 Multilateral .. .. .. 24 42 87 47 31 69 77 Concessional .. .. .. 55 24 64 32 31 60 80 Bilateral .. .. .. 3 28 52 100 70 109 25 Concessional .. .. .. 3 14 72 86 64 120 37 Private creditors .. .. .. 8 -3 47 62 25 -30 -53 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 28 38 35 -16 -43 Other private .. .. .. 8 -3 19 24 -10 -14 -10 Private nonguaranteed .. .. .. 0 69 49 -2 -3 -32 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 69 49 -2 -3 -32 3 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 55 21 60 27 28 57 75 62 AZERBAIJAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 12 11 15 39 24 17 19 Public and publicly guaranteed .. .. .. 12 9 9 34 19 13 16 Official creditors .. .. .. 12 8 8 33 16 11 12 Multilateral .. .. .. 2 2 3 7 8 6 6 Concessional .. .. .. 0 1 1 2 2 2 3 Bilateral .. .. .. 10 6 5 26 8 5 6 Concessional .. .. .. 0 0 1 24 2 3 4 Private creditors .. .. .. 0 1 1 1 3 3 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 1 2 2 Other private .. .. .. 0 1 1 1 2 1 1 Private nonguaranteed .. .. .. 0 2 6 5 5 3 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 2 6 5 5 3 3 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 1 1 2 2 2 2 NET TRANSFERS ON DEBT .. .. .. 24 126 220 168 100 99 33 Public and publicly guaranteed .. .. .. 24 59 176 175 108 135 33 Official creditors .. .. .. 15 63 131 114 86 167 90 Multilateral .. .. .. 23 41 84 40 24 63 71 Concessional .. .. .. 55 23 62 30 29 57 77 Bilateral .. .. .. -7 22 47 74 62 104 18 Concessional .. .. .. 3 14 71 63 62 117 33 Private creditors .. .. .. 8 -4 45 61 22 -33 -56 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 28 38 35 -18 -46 Other private .. .. .. 8 -4 18 23 -12 -15 -11 Private nonguaranteed .. .. .. 0 67 43 -7 -8 -35 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 67 43 -7 -8 -35 0 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 55 20 59 26 26 55 72 DEBT SERVICE (LTDS) .. .. .. 69 14 56 110 77 111 158 Public and publicly guaranteed .. .. .. 69 11 50 98 63 73 104 Official creditors .. .. .. 69 8 40 95 38 41 48 Multilateral .. .. .. 60 2 10 15 17 16 20 Concessional .. .. .. 0 1 1 2 2 3 4 Bilateral .. .. .. 10 6 30 79 20 24 28 Concessional .. .. .. 0 0 1 24 6 11 13 Private creditors .. .. .. 0 4 10 3 25 33 56 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 13 18 46 Other private .. .. .. 0 4 9 3 12 15 11 Private nonguaranteed .. .. .. 0 2 7 12 15 37 53 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 2 7 12 15 37 53 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 1 1 2 2 2 2 UNDISBURSED DEBT .. .. .. 302 647 724 616 457 352 313 Official creditors .. .. .. 278 552 691 568 457 352 313 Private creditors .. .. .. 24 95 34 49 0 0 0 Memorandum items Concessional LDOD .. .. .. 118 162 300 393 455 686 886 Variable rate LDOD .. .. .. 119 222 295 371 383 344 292 Public sector LDOD .. .. .. 237 312 500 682 773 991 1,132 Private sector LDOD .. .. .. 0 72 108 99 95 72 76 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 4.1 3.7 4.5 Deutsche mark .. .. .. 1.1 3.1 4.1 3.6 .. .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 .. .. .. Japanese yen .. .. .. 0.0 2.5 17.2 22.4 24.2 32.4 33.9 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.0 3.7 7.0 10.8 9.5 5.4 U.S.dollars .. .. .. 98.9 93.3 73.6 63.4 58.0 51.1 52.2 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 1.2 1.4 3.4 2.9 3.4 4.1 63 AZERBAIJAN (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 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 .. .. .. 36 0 0 0 0 0 0 Memo: interest forgiven .. .. .. 2 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 .. .. .. 70 199 338 228 -7 217 197 Net flows on debt .. .. .. 131 176 356 283 42 116 81 Net change in interest arrears .. .. .. -2 0 0 0 0 0 0 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. .. -36 0 0 0 0 0 0 Cross-currency valuation .. .. .. -54 -49 -11 -43 -44 89 119 Residual .. .. .. 31 72 -7 -12 -4 12 -3 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 3.8 2.7 1.7 6.0 1.4 0.8 0.8 Maturity (years) .. .. .. 21.7 26.7 34.8 16.1 33.4 34.8 34.5 Grace period (years) .. .. .. 6.4 7.1 8.9 3.0 9.9 10.3 10.0 Grant element (%) .. .. .. 45.9 56.3 70.0 25.8 72.8 78.8 78.4 Official creditors Interest (%) .. .. .. 3.0 1.4 1.7 4.6 1.4 0.8 0.8 Maturity (years) .. .. .. 25.0 31.5 34.8 21.4 33.4 34.8 34.5 Grace period (years) .. .. .. 7.4 8.1 8.9 4.3 9.9 10.3 10.0 Grant element (%) .. .. .. 54.0 67.9 70.0 38.5 72.8 78.8 78.4 Private creditors Interest (%) .. .. .. 8.0 8.8 0.0 8.5 0.0 0.0 0.0 Maturity (years) .. .. .. 5.1 4.8 0.0 6.7 0.0 0.0 0.0 Grace period (years) .. .. .. 1.3 2.3 0.0 0.8 0.0 0.0 0.0 Grant element (%) .. .. .. 4.3 2.7 0.0 3.7 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 197 375 272 216 59 69 66 Official creditors .. .. .. 165 308 272 137 59 69 66 Private creditors .. .. .. 32 67 0 79 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 73 57 43 34 31 23 15 12 8 5 Principal 112 54 45 46 62 66 61 45 37 36 Interest 18 15 14 13 12 11 10 9 8 8 Official creditors Disbursements 73 57 43 34 31 23 15 12 8 5 Principal 36 34 36 38 46 50 53 44 37 36 Interest 13 13 12 12 11 11 10 9 8 8 Bilateral creditors Disbursements 32 18 9 4 2 0 0 0 0 0 Principal 22 17 17 17 24 27 31 27 19 15 Interest 6 6 6 5 5 4 4 3 3 3 Multilateral creditors Disbursements 41 39 34 30 29 22 15 12 8 5 Principal 14 16 19 21 22 23 22 17 19 21 Interest 7 7 7 7 6 6 6 5 5 5 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 76 21 9 9 16 16 8 1 0 0 Interest 5 2 2 2 1 1 0 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 63 3 0 0 0 0 0 0 0 0 Interest 2 0 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 12 18 9 9 16 16 8 1 0 0 Interest 3 2 2 2 1 1 0 0 0 0 64 BANGLADESH (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 3,921 12,439 14,421 15,667 16,570 15,721 15,255 17,061 18,778 Long-term debt (LDOD) .. 3,285 11,658 13,874 15,096 15,998 15,171 14,746 16,418 18,088 Public and publicly guaranteed .. 3,285 11,658 13,874 15,096 15,998 15,171 14,746 16,418 18,088 Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Use of IMF credit .. 424 626 372 422 318 216 149 71 74 Short-term debt .. 212 156 175 150 254 334 361 572 617 of which interest arrears on LDOD .. 0 1 0 0 0 0 21 27 0 Official creditors .. 0 1 0 0 0 0 21 27 0 Private creditors .. 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD .. 0 11 3 4 4 4 58 75 4 Official creditors .. 0 11 3 4 4 4 58 75 4 Private creditors .. 0 0 0 0 0 0 0 0 0 Memo: export credits .. 0 329 430 394 336 334 299 324 467 TOTAL DEBT FLOWS Disbursements .. 859 1,273 628 846 803 889 1,049 768 939 Long-term debt .. 632 1,213 628 711 803 889 1,049 768 869 IMF purchases .. 227 60 0 134 0 0 0 0 70 Principal repayments .. 168 548 508 472 524 599 492 551 495 Long-term debt .. 34 344 394 371 431 513 432 463 422 IMF repurchases .. 134 204 115 101 93 86 60 88 73 Net flows on debt .. 793 813 132 348 383 371 563 422 516 of which short-term debt .. 102 88 12 -25 105 80 6 205 72 Interest payments (INT) .. 73 201 182 172 194 201 184 176 176 Long-term debt .. 44 151 171 162 173 171 162 161 162 IMF charges .. 13 40 2 2 6 7 6 3 1 Short-term debt .. 16 9 9 8 14 22 16 12 13 Net transfers on debt .. 720 612 -50 177 190 170 379 246 339 Total debt service paid (TDS) .. 241 749 690 644 718 799 676 727 672 Long-term debt .. 78 495 564 532 605 684 594 624 584 IMF repurchases and charges .. 147 245 117 103 99 93 66 91 75 Short-term debt (interest only) .. 16 9 9 8 14 22 16 12 13 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 1,608 1,644 943 1,183 1,225 1,251 1,295 899 1,030 Net flow of long-term debt (ex. IMF) .. 598 869 234 340 372 377 617 305 447 Foreign direct investment (net) .. 9 3 139 190 180 280 79 52 102 Portfolio equity flows .. 0 0 -10 -4 -1 1 -4 -1 2 Grants (excluding technical coop.) .. 1,001 772 579 657 675 592 603 543 478 Memo: technical coop. grants .. 159 234 233 203 170 212 212 215 248 official net resource flows .. 1,589 1,585 844 1,026 1,059 933 988 763 943 private net resource flows .. 19 59 99 157 166 318 308 136 86 NET TRANSFERS .. 1,564 1,493 746 981 970 930 958 609 772 Interest on long-term debt .. 44 151 171 162 173 171 162 161 162 Profit remittances on FDI .. 0 0 27 40 82 149 175 129 95 Memo: official net transfers .. 1,547 1,445 683 873 892 773 832 605 787 private net transfers .. 17 48 63 109 78 157 126 4 -15 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 17,609 30,757 43,688 45,523 47,542 48,915 48,635 49,746 54,778 Exports of goods, serv. & inc. (XGS) .. 1,420 2,907 7,140 7,556 8,127 9,251 9,008 9,855 11,143 Worker remit. & comp. of employees .. 339 779 1,526 1,606 1,807 1,968 2,105 2,858 3,191 Imports of goods & services (MGS) .. 2,904 4,140 8,032 8,159 9,191 10,018 10,017 9,508 11,338 International reserves (RES) .. 331 660 1,611 1,936 1,634 1,516 1,306 1,722 2,625 Current account balance .. -702 -398 -286 -35 -364 -306 -535 739 183 4. DEBT INDICATORS EDT / XGS (%) .. 276.2 427.9 202.0 207.3 203.9 169.9 169.4 173.1 168.5 EDT / GNI (%) .. 22.3 40.4 33.0 34.4 34.9 32.1 31.4 34.3 34.3 TDS / XGS (%) .. 17.0 25.8 9.7 8.5 8.8 8.6 7.5 7.4 6.0 INT / XGS (%) .. 5.1 6.9 2.5 2.3 2.4 2.2 2.0 1.8 1.6 INT / GNI (%) .. 0.4 0.7 0.4 0.4 0.4 0.4 0.4 0.4 0.3 RES / EDT (%) .. 8.4 5.3 11.2 12.4 9.9 9.6 8.6 10.1 14.0 RES / MGS (months) .. 1.4 1.9 2.4 2.8 2.1 1.8 1.6 2.2 2.8 Short-term / EDT (%) .. 5.4 1.3 1.2 1.0 1.5 2.1 2.4 3.4 3.3 Concessional / EDT (%) .. 80.4 90.7 94.6 95.0 95.1 94.8 93.4 92.8 93.2 Multilateral / EDT (%) .. 31.9 51.8 66.0 67.0 67.4 69.9 70.3 71.0 72.5 65 BANGLADESH (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 3,285 11,658 13,874 15,096 15,998 15,171 14,746 16,418 18,088 Public and publicly guaranteed .. 3,285 11,658 13,874 15,096 15,998 15,171 14,746 16,418 18,088 Official creditors .. 3,229 11,435 13,679 14,918 15,788 14,925 14,269 15,850 17,533 Multilateral .. 1,251 6,441 9,520 10,492 11,172 10,996 10,719 12,117 13,606 Concessional .. 1,190 6,344 9,481 10,456 11,141 10,972 10,702 12,097 13,571 Bilateral .. 1,978 4,994 4,160 4,426 4,616 3,929 3,550 3,734 3,927 Concessional .. 1,963 4,941 4,158 4,426 4,616 3,929 3,550 3,734 3,927 Private creditors .. 56 223 195 177 210 246 476 568 555 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 21 1 0 0 15 26 29 29 Other private .. 56 202 193 177 210 232 451 539 527 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 38 36 31 24 17 13 7 IDA .. 926 4,095 5,701 6,168 6,428 6,431 6,439 7,063 8,062 DISBURSEMENTS .. 632 1,213 628 711 803 889 1,049 768 869 Public and publicly guaranteed .. 632 1,213 628 711 803 889 1,049 768 869 Official creditors .. 615 1,123 628 711 789 823 799 672 859 Multilateral .. 276 822 520 617 724 651 538 536 762 Concessional .. 275 792 520 617 724 651 537 530 741 Bilateral .. 339 301 109 94 65 172 261 136 97 Concessional .. 339 301 109 94 65 172 261 136 97 Private creditors .. 17 90 0 0 15 67 250 95 10 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 22 0 0 0 15 11 0 0 Other private .. 17 67 0 0 15 52 239 95 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 0 0 0 0 0 0 0 0 IDA .. 156 464 301 350 413 357 312 301 519 PRINCIPAL REPAYMENTS .. 34 344 394 371 431 513 432 463 422 Public and publicly guaranteed .. 34 344 394 371 431 513 432 463 422 Official creditors .. 28 310 364 342 405 482 414 452 394 Multilateral .. 1 62 124 132 154 168 181 204 237 Concessional .. 0 44 119 127 149 163 175 198 230 Bilateral .. 27 248 240 210 250 314 234 248 158 Concessional .. 23 239 239 209 250 314 234 248 158 Private creditors .. 6 34 30 29 27 31 18 10 27 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 2 6 1 0 0 0 0 3 Other private .. 6 32 24 28 27 31 18 10 24 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 4 4 5 5 5 6 6 IDA .. 0 13 55 61 73 82 94 106 124 NET FLOWS ON DEBT .. 598 869 234 340 372 377 617 305 447 Public and publicly guaranteed .. 598 869 234 340 372 377 617 305 447 Official creditors .. 588 813 264 369 384 341 385 220 465 Multilateral .. 275 761 396 485 570 483 357 332 525 Concessional .. 275 749 401 489 575 488 362 331 511 Bilateral .. 312 52 -132 -115 -186 -142 28 -112 -60 Concessional .. 316 61 -131 -114 -185 -142 28 -112 -60 Private creditors .. 11 55 -30 -29 -12 36 233 85 -18 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 20 -6 -1 0 15 11 0 -3 Other private .. 11 35 -24 -28 -12 21 221 85 -15 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 -4 -4 -5 -5 -5 -6 -6 IDA .. 156 451 246 289 339 275 218 195 395 66 BANGLADESH (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 44 151 171 162 173 171 162 161 162 Public and publicly guaranteed .. 44 151 171 162 173 171 162 161 162 Official creditors .. 42 140 160 154 167 160 155 158 156 Multilateral .. 11 51 84 85 94 93 96 100 110 Concessional .. 7 46 81 82 92 91 94 99 108 Bilateral .. 31 89 77 69 73 67 60 58 46 Concessional .. 30 84 77 69 73 67 60 58 46 Private creditors .. 2 11 10 8 7 12 6 3 6 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 1 0 0 0 0 1 1 2 Other private .. 2 11 10 8 7 11 5 2 5 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 2 2 2 1 1 1 IDA .. 6 28 42 43 46 47 48 50 56 NET TRANSFERS ON DEBT .. 554 717 64 179 199 205 456 144 285 Public and publicly guaranteed .. 554 717 64 179 199 205 456 144 285 Official creditors .. 546 673 104 216 217 181 229 62 309 Multilateral .. 264 709 313 400 475 390 261 232 416 Concessional .. 267 702 320 407 482 397 268 233 403 Bilateral .. 281 -36 -209 -184 -258 -209 -32 -170 -106 Concessional .. 286 -23 -208 -183 -258 -209 -32 -170 -106 Private creditors .. 8 44 -40 -37 -19 24 226 82 -24 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 20 -6 -1 0 14 10 -1 -5 Other private .. 8 24 -34 -36 -19 10 216 83 -19 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 -7 -7 -7 -7 -7 -7 -7 IDA .. 150 424 204 246 293 228 170 145 339 DEBT SERVICE (LTDS) .. 78 495 564 532 605 684 594 624 584 Public and publicly guaranteed .. 78 495 564 532 605 684 594 624 584 Official creditors .. 70 450 524 495 571 642 570 610 550 Multilateral .. 12 113 207 217 249 261 276 304 346 Concessional .. 8 90 200 210 242 254 270 297 338 Bilateral .. 58 337 317 279 323 381 294 307 204 Concessional .. 53 324 316 277 322 381 294 307 204 Private creditors .. 8 45 40 37 33 42 24 13 34 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 2 6 1 0 0 1 1 5 Other private .. 8 43 34 36 33 42 23 12 29 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 7 7 7 7 7 7 7 IDA .. 6 40 96 104 119 129 143 156 180 UNDISBURSED DEBT .. 2,189 4,318 3,392 3,688 4,246 3,830 3,522 3,499 4,083 Official creditors .. 2,139 4,128 3,082 3,597 3,855 3,354 2,983 3,045 3,623 Private creditors .. 50 190 309 91 392 476 539 455 460 Memorandum items Concessional LDOD .. 3,153 11,285 13,639 14,882 15,757 14,901 14,252 15,831 17,498 Variable rate LDOD .. 5 21 1 0 0 0 0 7 27 Public sector LDOD .. 3,285 11,658 13,874 15,096 15,998 15,171 14,746 16,418 18,088 Private sector LDOD .. 0 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 0.5 0.6 0.6 Deutsche mark .. 0.1 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc .. 1.2 1.2 0.4 0.4 0.3 0.3 .. .. .. Japanese yen .. 23.6 24.8 22.0 22.2 22.4 20.4 18.4 17.4 17.0 Pound sterling .. 18.6 5.0 3.5 3.1 2.8 3.0 3.0 2.6 2.3 Swiss franc .. 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 38.2 48.1 43.3 42.9 43.0 44.7 47.8 48.1 50.1 Multiple currency .. 8.1 15.4 23.7 24.4 24.8 24.5 23.0 24.0 22.9 Special drawing rights .. 0.2 1.0 4.7 4.9 4.6 4.8 4.9 4.8 4.8 All other currencies .. 9.8 4.4 2.2 2.0 2.0 2.3 2.3 2.4 2.2 67 BANGLADESH (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 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 0 103 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 13 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 -916 1,246 903 -849 -466 1,806 1,717 Net flows on debt .. 793 813 132 348 383 371 563 422 516 Net change in interest arrears .. .. 1 0 0 0 0 21 6 -27 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 -103 Cross-currency valuation .. .. 925 -1,241 725 809 -1,087 -1,042 1,166 1,547 Residual .. .. -145 193 173 -290 -133 -8 211 -214 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 1.7 1.8 1.6 1.6 1.7 2.6 2.0 1.4 1.2 Maturity (years) .. 36.0 34.1 37.2 39.1 30.3 24.9 26.2 33.6 31.9 Grace period (years) .. 9.0 9.2 9.8 10.1 7.2 6.8 6.5 8.5 8.3 Grant element (%) .. 68.5 68.5 70.9 72.8 64.3 54.2 57.4 70.6 70.3 Official creditors Interest (%) .. 1.5 1.1 1.6 1.6 1.2 2.4 1.2 1.3 1.2 Maturity (years) .. 36.9 37.6 37.2 39.1 34.5 28.2 31.9 33.9 32.1 Grace period (years) .. 9.2 10.2 9.8 10.1 8.4 7.4 8.2 8.6 8.4 Grant element (%) .. 70.4 76.1 70.9 72.8 72.4 59.2 68.7 71.2 70.8 Private creditors Interest (%) .. 7.5 5.4 0.0 0.0 3.5 3.3 3.6 3.3 2.7 Maturity (years) .. 10.7 14.1 0.0 0.0 15.1 13.0 14.0 15.5 4.7 Grace period (years) .. 2.4 3.5 0.0 0.0 2.9 4.8 3.2 3.1 1.5 Grant element (%) .. 11.4 25.0 0.0 0.0 35.1 36.4 33.6 37.2 19.3 Memorandum items Commitments .. 1,029 1,317 1,111 1,102 1,445 708 976 637 1,460 Official creditors .. 997 1,122 1,111 1,102 1,130 554 662 626 1,447 Private creditors .. 32 196 0 0 315 154 314 11 14 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,082 921 670 501 362 249 159 78 33 13 Principal 761 787 763 785 835 831 845 858 857 856 Interest 198 202 206 209 204 196 187 177 165 153 Official creditors Disbursements 831 783 622 484 359 249 159 78 33 13 Principal 610 622 643 692 745 763 776 789 791 799 Interest 173 176 184 191 189 184 177 169 160 150 Bilateral creditors Disbursements 217 163 102 66 36 21 8 3 1 1 Principal 348 326 324 323 320 292 273 255 239 228 Interest 57 54 51 47 42 37 33 29 26 22 Multilateral creditors Disbursements 614 620 520 418 323 228 151 75 31 12 Principal 263 297 319 369 425 471 503 534 552 572 Interest 116 122 134 144 147 146 143 139 134 128 Private creditors Disbursements 252 138 49 17 3 0 0 0 0 0 Principal 150 165 120 94 90 69 69 69 66 57 Interest 25 26 22 19 16 13 10 8 5 3 Commercial banks Disbursements 7 5 2 1 0 0 0 0 0 0 Principal 4 7 7 6 6 3 3 3 3 0 Interest 2 2 1 1 1 1 1 0 0 0 Other private Disbursements 245 133 47 16 3 0 0 0 0 0 Principal 146 158 113 87 84 66 66 66 63 57 Interest 23 25 21 17 15 12 10 8 5 3 68 BARBADOS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 12.9 165.7 683.0 399.0 387.8 443.9 548.2 700.7 712.2 721.2 Long-term debt (LDOD) 12.9 97.8 504.1 366.9 387.8 443.9 548.2 700.7 712.2 721.2 Public and publicly guaranteed 12.9 97.8 504.1 366.9 387.8 443.9 548.2 700.7 712.2 721.2 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 2.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 65.0 178.1 32.1 0.0 0.0 0.0 0.0 0.0 0.0 of which interest arrears on LDOD 0.0 0.0 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.2 0.1 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 0.7 0.4 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.7 0.4 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 TOTAL DEBT FLOWS Disbursements 0.0 38.4 90.6 40.1 61.1 112.3 125.3 183.0 35.6 32.0 Long-term debt 0.0 38.4 90.6 40.1 61.1 112.3 125.3 183.0 35.6 32.0 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 14.2 92.2 53.2 45.6 54.2 22.3 24.3 37.4 38.7 Long-term debt 0.0 8.7 88.4 44.2 45.6 54.2 22.3 24.3 37.4 38.7 IMF repurchases 0.0 5.5 3.8 9.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt 0.0 10.2 18.8 -23.1 -16.6 58.1 103.0 158.7 -1.8 -6.7 of which short-term debt 0.0 -14.0 20.4 -10.0 -32.0 0.0 0.0 0.0 0.0 0.0 Interest payments (INT) 0.8 11.1 48.6 32.3 30.4 34.7 40.0 44.2 45.6 45.0 Long-term debt 0.8 5.8 39.3 30.2 29.6 34.7 40.0 44.2 45.6 45.0 IMF charges 0.0 0.3 0.4 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 5.0 8.9 1.9 0.8 0.0 0.0 0.0 0.0 0.0 Net transfers on debt -0.8 -0.9 -29.8 -55.3 -46.9 23.3 63.1 114.5 -47.4 -51.6 Total debt service paid (TDS) 0.8 25.2 140.7 85.5 76.0 89.0 62.2 68.5 83.0 83.7 Long-term debt 0.8 14.5 127.7 74.5 75.2 89.0 62.2 68.5 83.0 83.7 IMF repurchases and charges 0.0 5.8 4.1 9.1 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt (interest only) 0.0 5.0 8.9 1.9 0.8 0.0 0.0 0.0 0.0 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 9.4 33.2 14.6 13.7 35.4 75.5 124.0 178.0 18.0 148.2 Net flow of long-term debt (ex. IMF) 0.0 29.7 2.1 -4.1 15.4 58.1 103.0 158.7 -1.8 -6.7 Foreign direct investment (net) 8.7 2.8 11.2 14.8 15.8 17.4 19.4 18.6 17.4 58.3 Portfolio equity flows 0.0 0.0 0.0 -0.1 -0.1 -0.1 0.0 0.0 1.1 94.7 Grants (excluding technical coop.) 0.7 0.7 1.3 3.1 4.3 0.2 1.5 0.7 1.3 1.8 Memo: technical coop. grants 0.8 2.7 2.4 1.8 1.3 1.7 1.2 3.4 2.9 2.4 official net resource flows 0.7 14.4 17.4 23.2 42.8 86.6 -0.9 8.3 10.8 7.4 private net resource flows 8.7 18.8 -2.8 -9.5 -7.4 -11.1 124.8 169.7 7.2 140.8 NET TRANSFERS 4.4 21.3 -33.8 -28.2 -6.9 25.3 67.0 115.4 -46.5 82.3 Interest on long-term debt 0.8 5.8 39.3 30.2 29.6 34.7 40.0 44.2 45.6 45.0 Profit remittances on FDI 4.2 6.1 9.1 11.6 12.8 15.5 17.0 18.4 18.9 20.9 Memo: official net transfers 0.7 11.8 2.9 9.6 28.0 65.5 -26.6 -15.1 -8.2 -11.5 private net transfers 3.7 9.5 -36.7 -37.8 -35.0 -40.2 93.6 130.5 -38.3 93.8 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 180.8 836.9 1,699.9 2,144.9 2,308.8 2,397.4 2,494.9 2,441.8 2,429.8 2,516.9 Exports of goods, serv. & inc. (XGS) 101.7 594.0 928.9 1,363.7 1,418.4 1,442.4 1,530.9 1,512.9 1,459.8 1,601.7 Worker remit. & comp. of employees 4.0 9.0 38.0 69.0 76.0 87.0 102.0 118.0 109.0 113.0 Imports of goods & services (MGS) 148.7 632.2 953.5 1,405.3 1,472.0 1,585.4 1,669.6 1,616.9 1,620.1 1,766.4 International reserves (RES) 16.6 80.6 117.5 264.9 365.9 301.9 472.7 690.4 668.5 737.9 Current account balance -41.8 -16.8 -7.8 -49.3 -62.1 -147.1 -144.6 -110.4 -167.4 -168.8 4. DEBT INDICATORS EDT / XGS (%) 12.7 27.9 73.5 29.3 27.3 30.8 35.8 46.3 48.8 45.0 EDT / GNI (%) 7.1 19.8 40.2 18.6 16.8 18.5 22.0 28.7 29.3 28.7 TDS / XGS (%) 0.8 4.2 15.1 6.3 5.4 6.2 4.1 4.5 5.7 5.2 INT / XGS (%) 0.8 1.9 5.2 2.4 2.1 2.4 2.6 2.9 3.1 2.8 INT / GNI (%) 0.4 1.3 2.9 1.5 1.3 1.4 1.6 1.8 1.9 1.8 RES / EDT (%) 128.8 48.6 17.2 66.4 94.4 68.0 86.2 98.5 93.9 102.3 RES / MGS (months) 1.3 1.5 1.5 2.3 3.0 2.3 3.4 5.1 5.0 5.0 Short-term / EDT (%) 0.0 39.2 26.1 8.1 0.0 0.0 0.0 0.0 0.0 0.0 Concessional / EDT (%) 0.0 22.3 13.2 15.3 19.5 20.2 16.0 12.3 13.5 14.2 Multilateral / EDT (%) 0.0 20.4 26.5 51.8 65.4 60.1 49.4 39.2 41.2 43.0 69 BARBADOS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 12.9 97.8 504.1 366.9 387.8 443.9 548.2 700.7 712.2 721.2 Public and publicly guaranteed 12.9 97.8 504.1 366.9 387.8 443.9 548.2 700.7 712.2 721.2 Official creditors 0.0 60.6 246.0 223.8 267.6 353.5 356.1 358.8 376.7 392.8 Multilateral 0.0 33.7 180.9 206.7 253.8 266.8 271.1 274.7 293.3 310.1 Concessional 0.0 20.8 56.8 54.5 70.3 84.3 83.0 81.7 92.3 98.8 Bilateral 0.0 26.8 65.1 17.0 13.8 86.7 85.0 84.1 83.4 82.6 Concessional 0.0 16.2 33.7 6.6 5.4 5.1 4.8 4.3 4.0 3.6 Private creditors 12.9 37.2 258.2 143.1 120.2 90.4 192.1 341.9 335.5 328.4 Bonds 12.9 16.7 69.2 63.1 40.0 40.0 140.0 290.0 280.0 270.0 Commercial banks 0.0 20.5 163.1 80.0 80.2 48.5 44.8 43.5 48.4 53.5 Other private 0.0 0.1 25.9 0.0 0.0 1.9 7.3 8.4 7.2 4.9 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 0.9 36.0 13.7 18.4 16.9 13.9 11.2 9.8 11.5 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DISBURSEMENTS 0.0 38.4 90.6 40.1 61.1 112.3 125.3 183.0 35.6 32.0 Public and publicly guaranteed 0.0 38.4 90.6 40.1 61.1 112.3 125.3 183.0 35.6 32.0 Official creditors 0.0 16.6 33.9 40.1 61.1 110.4 19.3 29.0 34.0 31.4 Multilateral 0.0 12.3 21.9 39.1 60.8 35.3 19.3 29.0 32.0 31.4 Concessional 0.0 10.4 1.7 1.0 19.5 18.0 5.7 2.6 15.1 11.7 Bilateral 0.0 4.4 12.1 1.0 0.2 75.1 0.0 0.0 2.0 0.0 Concessional 0.0 1.1 2.5 0.2 0.2 0.1 0.0 0.0 0.0 0.0 Private creditors 0.0 21.7 56.6 0.0 0.0 1.9 106.0 153.9 1.6 0.6 Bonds 0.0 16.7 0.0 0.0 0.0 0.0 100.0 150.0 0.0 0.0 Commercial banks 0.0 5.1 56.6 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 1.9 6.0 3.9 1.6 0.6 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 0.8 5.4 3.1 8.7 2.3 0.0 0.0 0.7 3.6 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 8.7 88.4 44.2 45.6 54.2 22.3 24.3 37.4 38.7 Public and publicly guaranteed 0.0 8.7 88.4 44.2 45.6 54.2 22.3 24.3 37.4 38.7 Official creditors 0.0 3.0 17.8 20.0 22.5 23.9 21.7 21.4 24.5 25.9 Multilateral 0.0 0.6 13.2 15.2 19.4 21.7 20.0 20.5 21.8 25.1 Concessional 0.0 0.1 2.2 3.4 3.8 3.8 4.1 3.9 4.6 5.2 Bilateral 0.0 2.4 4.6 4.8 3.1 2.2 1.7 0.9 2.7 0.7 Concessional 0.0 0.3 0.9 1.2 1.1 0.3 0.4 0.5 0.3 0.3 Private creditors 0.0 5.7 70.6 24.2 23.1 30.3 0.6 2.9 12.9 12.9 Bonds 0.0 0.0 44.1 4.1 23.0 0.0 0.0 0.0 10.0 10.0 Commercial banks 0.0 5.4 20.2 20.1 0.1 30.3 0.0 0.0 0.0 0.0 Other private 0.0 0.3 6.2 0.0 0.0 0.0 0.6 2.9 2.9 2.9 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 7.1 3.7 4.2 3.8 3.0 2.6 2.1 1.9 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 0.0 29.7 2.1 -4.1 15.4 58.1 103.0 158.7 -1.8 -6.7 Public and publicly guaranteed 0.0 29.7 2.1 -4.1 15.4 58.1 103.0 158.7 -1.8 -6.7 Official creditors 0.0 13.7 16.1 20.1 38.5 86.4 -2.4 7.6 9.5 5.6 Multilateral 0.0 11.7 8.6 23.9 41.5 13.6 -0.7 8.5 10.2 6.3 Concessional 0.0 10.4 -0.5 -2.4 15.7 14.2 1.5 -1.3 10.5 6.5 Bilateral 0.0 2.0 7.5 -3.8 -2.9 72.9 -1.7 -0.9 -0.7 -0.7 Concessional 0.0 0.8 1.6 -0.9 -0.9 -0.2 -0.4 -0.5 -0.3 -0.3 Private creditors 0.0 16.0 -14.0 -24.2 -23.1 -28.4 105.4 151.1 -11.3 -12.2 Bonds 0.0 16.7 -44.1 -4.1 -23.0 0.0 100.0 150.0 -10.0 -10.0 Commercial banks 0.0 -0.4 36.4 -20.1 -0.1 -30.3 0.0 0.0 0.0 0.0 Other private 0.0 -0.3 -6.2 0.0 0.0 1.9 5.4 1.1 -1.3 -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 0.8 -1.7 -0.6 4.5 -1.5 -3.0 -2.7 -1.4 1.6 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70 BARBADOS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.8 5.8 39.3 30.2 29.6 34.7 40.0 44.2 45.6 45.0 Public and publicly guaranteed 0.8 5.8 39.3 30.2 29.6 34.7 40.0 44.2 45.6 45.0 Official creditors 0.0 2.6 14.4 13.5 14.8 21.1 25.7 23.4 19.0 18.9 Multilateral 0.0 1.6 11.5 12.3 13.6 15.7 17.6 16.4 14.3 14.8 Concessional 0.0 0.5 1.6 2.1 2.7 1.8 3.9 2.3 2.2 2.4 Bilateral 0.0 1.1 2.9 1.2 1.2 5.4 8.1 7.0 4.7 4.1 Concessional 0.0 0.4 0.4 0.1 0.2 0.0 0.0 0.0 0.0 0.0 Private creditors 0.8 3.2 24.9 16.7 14.7 13.6 14.2 20.8 26.6 26.0 Bonds 0.8 0.0 8.1 6.0 5.0 4.2 8.5 15.3 20.8 19.7 Commercial banks 0.0 3.1 15.5 10.7 9.7 9.4 5.5 5.3 5.6 6.1 Other private 0.0 0.1 1.3 0.0 0.0 0.0 0.2 0.2 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 0.2 2.9 1.0 0.9 1.4 1.4 1.3 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 -0.8 23.9 -37.2 -34.4 -14.1 23.3 63.1 114.5 -47.4 -51.6 Public and publicly guaranteed -0.8 23.9 -37.2 -34.4 -14.1 23.3 63.1 114.5 -47.4 -51.6 Official creditors 0.0 11.1 1.7 6.6 23.7 65.3 -28.1 -15.8 -9.5 -13.4 Multilateral 0.0 10.2 -2.9 11.6 27.8 -2.1 -18.3 -7.9 -4.1 -8.5 Concessional 0.0 9.8 -2.1 -4.5 13.0 12.4 -2.3 -3.5 8.3 4.1 Bilateral 0.0 0.9 4.5 -5.0 -4.1 67.4 -9.8 -7.9 -5.4 -4.9 Concessional 0.0 0.4 1.2 -1.0 -1.1 -0.2 -0.4 -0.5 -0.3 -0.3 Private creditors -0.8 12.8 -38.8 -40.9 -37.9 -42.0 91.2 130.3 -37.9 -38.3 Bonds -0.8 16.7 -52.2 -10.1 -28.0 -4.2 91.5 134.7 -30.8 -29.7 Commercial banks 0.0 -3.5 20.9 -30.8 -9.8 -39.7 -5.5 -5.3 -5.6 -6.1 Other private 0.0 -0.4 -7.5 0.0 0.0 1.9 5.2 0.8 -1.5 -2.4 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 0.7 -4.7 -1.6 3.6 -2.8 -4.4 -3.9 -2.3 0.9 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DEBT SERVICE (LTDS) 0.8 14.5 127.7 74.5 75.2 89.0 62.2 68.5 83.0 83.7 Public and publicly guaranteed 0.8 14.5 127.7 74.5 75.2 89.0 62.2 68.5 83.0 83.7 Official creditors 0.0 5.6 32.2 33.5 37.3 45.1 47.4 44.9 43.5 44.8 Multilateral 0.0 2.1 24.7 27.6 33.0 37.4 37.6 36.9 36.1 39.9 Concessional 0.0 0.6 3.8 5.4 6.4 5.5 8.0 6.1 6.8 7.6 Bilateral 0.0 3.5 7.5 6.0 4.3 7.6 9.8 7.9 7.4 4.9 Concessional 0.0 0.7 1.3 1.2 1.2 0.3 0.4 0.5 0.3 0.3 Private creditors 0.8 8.9 95.5 40.9 37.9 43.9 14.8 23.6 39.5 38.9 Bonds 0.8 0.0 52.2 10.1 28.0 4.2 8.5 15.3 30.8 29.7 Commercial banks 0.0 8.5 35.8 30.8 9.8 39.7 5.5 5.3 5.6 6.1 Other private 0.0 0.4 7.5 0.0 0.0 0.0 0.7 3.1 3.1 3.0 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 0.2 10.0 4.7 5.1 5.1 4.4 3.9 3.0 2.6 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 UNDISBURSED DEBT 2.8 78.4 110.1 160.2 221.6 212.1 198.9 185.8 167.2 135.2 Official creditors 2.8 70.8 63.6 160.2 221.6 210.7 192.7 183.5 166.5 135.1 Private creditors 0.0 7.6 46.4 0.0 0.0 1.4 6.2 2.3 0.7 0.1 Memorandum items Concessional LDOD 0.0 37.0 90.5 61.1 75.6 89.5 87.8 86.0 96.3 102.5 Variable rate LDOD 0.0 15.9 155.8 66.7 95.3 174.0 177.2 193.4 212.1 232.4 Public sector LDOD 12.9 97.8 499.5 366.9 387.8 443.9 548.2 700.7 712.2 721.2 Private sector LDOD 0.0 0.0 4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 0.0 0.0 0.0 Deutsche mark 0.0 0.0 0.6 0.0 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 0.0 13.7 6.3 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 100.0 6.4 13.6 13.6 12.9 10.9 8.2 6.2 6.8 7.4 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 30.7 35.3 38.1 48.0 57.0 65.3 72.4 70.9 69.0 Multiple currency 0.0 30.5 31.9 40.4 37.6 30.8 25.6 20.7 21.7 23.0 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 0.0 32.4 4.9 1.6 1.5 1.3 1.0 0.7 0.6 0.6 71 BARBADOS (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 0.0 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 0.3 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 .. .. 39.4 -35.5 -11.2 56.0 104.3 152.5 11.4 9.1 Net flows on debt 0.0 10.2 18.8 -23.1 -16.6 58.1 103.0 158.7 -1.8 -6.7 Net change in interest arrears .. .. -1.6 0.0 -0.1 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 -0.3 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 21.0 -12.5 2.2 -2.6 2.8 -6.9 12.6 14.3 Residual .. .. 1.2 0.1 3.6 0.6 -1.6 0.8 0.6 1.4 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.0 7.1 10.2 5.2 6.5 7.0 5.7 7.0 5.4 0.0 Maturity (years) 29.6 15.5 18.6 15.5 23.3 10.2 9.9 19.7 20.0 0.0 Grace period (years) 7.1 5.9 15.3 5.0 6.5 6.2 9.1 17.9 5.0 0.0 Grant element (%) 54.6 18.3 -5.5 28.2 23.9 14.9 24.3 24.2 29.9 0.0 Official creditors Interest (%) 3.0 6.1 6.5 5.2 6.5 7.1 0.0 5.2 5.4 0.0 Maturity (years) 29.6 19.9 15.4 15.5 23.3 10.4 0.0 17.5 20.0 0.0 Grace period (years) 7.1 5.2 4.9 5.0 6.5 6.4 0.0 4.5 5.0 0.0 Grant element (%) 54.6 26.6 21.7 28.2 23.9 14.7 0.0 29.0 29.9 0.0 Private creditors Interest (%) 0.0 8.3 11.7 0.0 0.0 2.5 5.7 7.3 0.0 0.0 Maturity (years) 0.0 10.3 19.8 0.0 0.0 5.7 9.9 20.0 0.0 0.0 Grace period (years) 0.0 6.6 19.3 0.0 0.0 1.2 9.1 20.0 0.0 0.0 Grant element (%) 0.0 8.7 -16.1 0.0 0.0 20.2 24.3 23.4 0.0 0.0 Memorandum items Commitments 2 62 102 5 130 101 111 174 17 0 Official creditors 2 33 28 5 130 97 0 24 17 0 Private creditors 0 29 74 0 0 3 111 150 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 39.2 36.4 25.8 17.9 10.3 3.4 1.8 0.5 0.0 0.0 Principal 53.3 59.3 58.6 55.8 55.4 33.3 131.8 28.0 27.1 26.0 Interest 45.3 43.5 41.4 39.4 37.3 35.2 31.7 26.4 25.1 24.0 Official creditors Disbursements 39.1 36.4 25.8 17.9 10.3 3.4 1.8 0.5 0.0 0.0 Principal 40.4 47.2 58.6 55.8 55.4 33.3 31.8 28.0 27.1 26.0 Interest 19.8 19.2 17.8 15.9 13.7 11.6 10.2 8.8 7.6 6.4 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 11.5 22.2 22.2 22.2 0.7 0.7 0.5 0.5 0.5 Interest 3.9 3.9 3.2 2.1 1.1 0.3 0.2 0.1 0.1 0.0 Multilateral creditors Disbursements 39.1 36.4 25.8 17.9 10.3 3.4 1.8 0.5 0.0 0.0 Principal 39.7 35.7 36.4 33.6 33.2 32.5 31.0 27.5 26.6 25.5 Interest 15.9 15.3 14.6 13.7 12.6 11.3 10.0 8.7 7.5 6.4 Private creditors Disbursements 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 12.9 12.2 0.0 0.0 0.0 0.0 100.0 0.0 0.0 0.0 Interest 25.5 24.4 23.6 23.6 23.6 23.6 21.6 17.6 17.6 17.6 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 6.7 6.7 6.7 6.7 6.7 6.7 6.7 6.7 6.7 6.7 Other private Disbursements 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 12.9 12.2 0.0 0.0 0.0 0.0 100.0 0.0 0.0 0.0 Interest 18.8 17.7 16.9 16.9 16.9 16.9 14.9 10.9 10.9 10.9 72 BELARUS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 2,083.5 2,388.2 2,198.6 2,042.9 2,035.1 2,398.7 2,692.0 Long-term debt (LDOD) .. .. .. 682.5 798.1 710.4 690.1 645.0 714.1 691.0 Public and publicly guaranteed .. .. .. 681.4 796.4 709.1 688.9 643.4 713.0 678.5 Private nonguaranteed .. .. .. 1.1 1.8 1.3 1.2 1.5 1.1 12.5 Use of IMF credit .. .. .. 256.6 242.6 178.1 114.2 80.8 55.6 26.0 Short-term debt .. .. .. 1,144.3 1,347.5 1,310.1 1,238.6 1,309.3 1,629.0 1,974.9 of which interest arrears on LDOD .. .. .. 3.0 6.3 8.9 13.8 4.7 0.9 1.8 Official creditors .. .. .. 1.2 3.8 6.8 12.2 2.3 0.0 1.8 Private creditors .. .. .. 1.8 2.6 2.2 1.6 2.4 0.9 0.1 Memo: principal arrears on LDOD .. .. .. 1.1 9.4 23.9 28.7 9.9 1.0 19.1 Official creditors .. .. .. 0.8 5.9 11.1 27.8 7.6 0.0 18.6 Private creditors .. .. .. 0.3 3.5 12.8 0.8 2.3 1.0 0.5 TOTAL DEBT FLOWS Disbursements .. .. .. 85.1 145.7 64.1 143.5 114.1 137.3 56.0 Long-term debt .. .. .. 85.1 145.7 64.1 143.5 114.1 137.3 56.0 IMF purchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. .. 69.5 85.2 148.9 190.4 173.5 154.0 168.4 Long-term debt .. .. .. 69.5 60.8 90.8 134.9 143.7 123.7 135.7 IMF repurchases .. .. .. 0.0 24.3 58.1 55.6 29.7 30.3 32.7 Net flows on debt .. .. .. 210.0 260.5 -124.9 -123.3 20.5 306.8 141.2 of which short-term debt .. .. .. 194.4 199.9 -40.0 -76.4 79.8 323.5 253.6 Interest payments (INT) .. .. .. 121.8 116.7 101.8 106.3 107.4 87.4 85.2 Long-term debt .. .. .. 52.4 40.5 40.4 37.7 46.0 34.1 30.4 IMF charges .. .. .. 12.0 11.7 8.6 7.4 4.5 2.0 0.8 Short-term debt .. .. .. 57.4 64.5 52.8 61.2 56.9 51.3 54.0 Net transfers on debt .. .. .. 88.2 143.8 -226.7 -229.6 -87.0 219.4 56.0 Total debt service paid (TDS) .. .. .. 191.3 201.9 250.8 296.8 280.9 241.4 253.6 Long-term debt .. .. .. 122.0 101.3 131.2 172.5 189.7 157.8 166.1 IMF repurchases and charges .. .. .. 12.0 36.0 66.7 63.0 34.3 32.2 33.5 Short-term debt (interest only) .. .. .. 57.4 64.5 52.8 61.2 56.9 51.3 54.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 406.9 306.0 437.5 154.8 91.1 280.4 113.2 Net flow of long-term debt (ex. IMF) .. .. .. 15.6 84.9 -26.7 8.7 -29.6 13.6 -79.7 Foreign direct investment (net) .. .. .. 351.6 203.2 444.0 118.8 95.8 247.1 171.8 Portfolio equity flows .. .. .. 0.0 2.7 0.0 0.5 2.5 0.7 3.3 Grants (excluding technical coop.) .. .. .. 39.7 15.2 20.2 26.9 22.4 19.0 17.9 Memo: technical coop. grants .. .. .. 15.5 23.9 20.1 13.7 19.2 23.8 17.7 official net resource flows .. .. .. 83.1 105.9 -4.8 -0.2 5.9 53.7 -13.8 private net resource flows .. .. .. 323.8 200.2 442.3 155.0 85.2 226.7 127.1 NET TRANSFERS .. .. .. 347.0 247.4 396.4 112.6 39.8 229.5 56.9 Interest on long-term debt .. .. .. 52.4 40.5 40.4 37.7 46.0 34.1 30.4 Profit remittances on FDI .. .. .. 7.5 18.2 0.7 4.6 5.3 16.8 26.0 Memo: official net transfers .. .. .. 60.5 80.0 -29.5 -18.4 -21.9 37.1 -26.9 private net transfers .. .. .. 286.5 167.4 425.9 131.0 61.7 192.4 83.8 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 14,088.5 15,256.7 12,115.6 12,752.5 12,428.2 14,643.8 17,484.3 Exports of goods, serv. & inc. (XGS) .. .. .. 7,897.8 7,155.9 6,474.1 7,666.5 8,503.4 9,350.0 11,642.4 Worker remit. & comp. of employees .. .. .. 295.0 315.0 193.0 139.0 149.0 140.0 162.0 Imports of goods & services (MGS) .. .. .. 8,806.3 8,236.3 6,718.0 8,159.6 9,051.9 9,860.1 12,364.4 International reserves (RES) .. .. .. 393.7 702.8 294.3 350.5 390.7 618.8 594.8 Current account balance .. .. .. -859.2 -1,016.5 -193.7 -338.4 -394.4 -311.2 -527.4 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 26.4 33.4 34.0 26.6 23.9 25.7 23.1 EDT / GNI (%) .. .. .. 14.8 15.7 18.1 16.0 16.4 16.4 15.4 TDS / XGS (%) .. .. .. 2.4 2.8 3.9 3.9 3.3 2.6 2.2 INT / XGS (%) .. .. .. 1.5 1.6 1.6 1.4 1.3 0.9 0.7 INT / GNI (%) .. .. .. 0.9 0.8 0.8 0.8 0.9 0.6 0.5 RES / EDT (%) .. .. .. 18.9 29.4 13.4 17.2 19.2 25.8 22.1 RES / MGS (months) .. .. .. 0.5 1.0 0.5 0.5 0.5 0.8 0.6 Short-term / EDT (%) .. .. .. 54.9 56.4 59.6 60.6 64.3 67.9 73.4 Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. .. .. 12.4 11.9 11.5 10.6 9.0 6.9 5.5 73 BELARUS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 682.5 798.1 710.4 690.1 645.0 714.1 691.0 Public and publicly guaranteed .. .. .. 681.4 796.4 709.1 688.9 643.4 713.0 678.5 Official creditors .. .. .. 383.7 487.9 442.5 400.1 350.5 396.9 382.6 Multilateral .. .. .. 258.8 283.3 252.6 216.7 182.7 166.1 148.2 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 124.9 204.6 189.9 183.4 167.8 230.9 234.4 Concessional .. .. .. 85.8 85.7 84.7 83.5 81.1 117.8 127.3 Private creditors .. .. .. 297.7 308.5 266.6 288.8 292.9 316.0 295.9 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 42.4 54.8 38.4 55.5 24.3 28.0 14.4 Other private .. .. .. 255.4 253.6 228.2 233.3 268.6 288.0 281.5 Private nonguaranteed .. .. .. 1.1 1.8 1.3 1.2 1.5 1.1 12.5 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 1.1 1.8 1.3 1.2 1.5 1.1 12.5 Memo: IBRD .. .. .. 123.8 134.9 122.3 105.2 91.4 89.2 83.7 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DISBURSEMENTS .. .. .. 85.1 145.7 64.1 143.5 114.1 137.3 56.0 Public and publicly guaranteed .. .. .. 84.7 144.8 63.5 143.0 113.4 136.9 45.4 Official creditors .. .. .. 63.8 110.7 19.4 25.4 48.8 89.6 14.1 Multilateral .. .. .. 63.8 29.6 19.4 25.4 10.6 9.0 0.6 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 0.0 81.1 0.0 0.0 38.2 80.6 13.5 Concessional .. .. .. 0.0 0.1 0.0 0.0 0.0 40.3 13.0 Private creditors .. .. .. 20.9 34.0 44.2 117.7 64.5 47.3 31.3 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 1.6 11.4 0.0 47.8 6.0 8.4 0.0 Other private .. .. .. 19.4 22.7 44.2 69.9 58.5 38.9 31.3 Private nonguaranteed .. .. .. 0.4 1.0 0.5 0.5 0.7 0.4 10.6 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.4 1.0 0.5 0.5 0.7 0.4 10.6 Memo: IBRD .. .. .. 13.3 3.6 12.5 5.5 6.4 3.9 0.6 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS .. .. .. 69.5 60.8 90.8 134.9 143.7 123.7 135.7 Public and publicly guaranteed .. .. .. 69.4 60.5 90.3 134.3 143.3 123.6 135.3 Official creditors .. .. .. 20.4 20.1 44.4 52.4 65.3 54.9 45.8 Multilateral .. .. .. 7.3 16.2 27.2 48.8 35.9 39.8 35.6 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 13.1 3.8 17.2 3.6 29.4 15.2 10.2 Concessional .. .. .. 0.0 0.2 1.0 1.3 2.3 3.6 3.6 Private creditors .. .. .. 49.0 40.4 45.9 81.9 78.0 68.6 89.5 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 2.0 2.0 5.7 27.8 35.6 8.5 16.1 Other private .. .. .. 46.9 38.4 40.2 54.1 42.3 60.2 73.4 Private nonguaranteed .. .. .. 0.1 0.4 0.5 0.6 0.4 0.1 0.4 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.1 0.4 0.5 0.6 0.4 0.1 0.4 Memo: IBRD .. .. .. 0.0 0.0 11.3 14.3 13.7 13.6 14.9 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET FLOWS ON DEBT .. .. .. 15.6 84.9 -26.7 8.7 -29.6 13.6 -79.7 Public and publicly guaranteed .. .. .. 15.3 84.3 -26.8 8.7 -29.9 13.3 -89.9 Official creditors .. .. .. 43.4 90.6 -25.0 -27.1 -16.5 34.7 -31.7 Multilateral .. .. .. 56.4 13.3 -7.9 -23.4 -25.3 -30.8 -35.1 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. -13.1 77.3 -17.2 -3.6 8.8 65.4 3.4 Concessional .. .. .. 0.0 -0.1 -1.0 -1.3 -2.3 36.6 9.4 Private creditors .. .. .. -28.0 -6.4 -1.7 35.8 -13.4 -21.4 -58.2 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. -0.5 9.4 -5.7 20.0 -29.6 -0.1 -16.1 Other private .. .. .. -27.5 -15.7 4.0 15.8 16.2 -21.3 -42.1 Private nonguaranteed .. .. .. 0.3 0.6 0.0 -0.1 0.3 0.3 10.2 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.3 0.6 0.0 -0.1 0.3 0.3 10.2 Memo: IBRD .. .. .. 13.3 3.6 1.3 -8.8 -7.3 -9.8 -14.3 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74 BELARUS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 52.4 40.5 40.4 37.7 46.0 34.1 30.4 Public and publicly guaranteed .. .. .. 52.4 40.4 40.4 37.7 46.0 34.1 30.2 Official creditors .. .. .. 22.6 25.9 24.7 18.2 27.8 16.6 13.1 Multilateral .. .. .. 17.3 18.9 19.2 16.6 14.2 10.6 9.2 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 5.3 6.9 5.5 1.6 13.6 5.9 3.9 Concessional .. .. .. 1.8 1.8 1.8 1.6 2.0 2.2 2.6 Private creditors .. .. .. 29.9 14.6 15.7 19.4 18.2 17.5 17.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 2.3 1.9 1.9 4.3 2.2 1.7 1.5 Other private .. .. .. 27.6 12.7 13.8 15.1 16.0 15.8 15.6 Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.2 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 0.2 Memo: IBRD .. .. .. 7.7 7.7 8.2 6.1 5.0 5.0 4.3 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET TRANSFERS ON DEBT .. .. .. -36.8 44.5 -67.1 -29.0 -75.6 -20.5 -110.1 Public and publicly guaranteed .. .. .. -37.1 43.9 -67.2 -28.9 -75.9 -20.8 -120.1 Official creditors .. .. .. 20.8 64.8 -49.7 -45.3 -44.3 18.1 -44.7 Multilateral .. .. .. 39.2 -5.6 -27.1 -40.0 -39.5 -41.4 -44.3 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. -18.4 70.4 -22.6 -5.3 -4.8 59.5 -0.5 Concessional .. .. .. -1.8 -1.8 -2.7 -2.8 -4.3 34.5 6.8 Private creditors .. .. .. -57.9 -20.9 -17.5 16.4 -31.6 -38.9 -75.3 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. -2.8 7.5 -7.6 15.7 -31.8 -1.8 -17.6 Other private .. .. .. -55.1 -28.4 -9.9 0.7 0.1 -37.1 -57.7 Private nonguaranteed .. .. .. 0.3 0.6 0.0 -0.1 0.3 0.3 10.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.3 0.6 0.0 -0.1 0.3 0.3 10.0 Memo: IBRD .. .. .. 5.6 -4.1 -6.9 -14.9 -12.3 -14.8 -18.6 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DEBT SERVICE (LTDS) .. .. .. 122.0 101.3 131.2 172.5 189.7 157.8 166.1 Public and publicly guaranteed .. .. .. 121.8 100.9 130.7 172.0 189.3 157.7 165.5 Official creditors .. .. .. 42.9 45.9 69.1 70.7 93.1 71.5 58.9 Multilateral .. .. .. 24.6 35.2 46.4 65.4 50.1 50.4 44.8 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral .. .. .. 18.4 10.7 22.6 5.3 43.0 21.1 14.0 Concessional .. .. .. 1.8 1.9 2.7 2.8 4.3 5.8 6.3 Private creditors .. .. .. 78.9 55.0 61.6 101.3 96.1 86.2 106.6 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 4.3 3.9 7.6 32.1 37.8 10.2 17.6 Other private .. .. .. 74.5 51.1 54.1 69.2 58.3 76.0 89.0 Private nonguaranteed .. .. .. 0.1 0.4 0.5 0.6 0.4 0.1 0.6 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks and other .. .. .. 0.1 0.4 0.5 0.6 0.4 0.1 0.6 Memo: IBRD .. .. .. 7.7 7.7 19.4 20.4 18.7 18.7 19.2 IDA .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 UNDISBURSED DEBT .. .. .. 247.8 180.5 165.2 109.0 152.8 53.1 40.5 Official creditors .. .. .. 203.2 94.6 63.9 66.3 110.9 39.4 24.6 Private creditors .. .. .. 44.6 85.9 101.3 42.7 41.9 13.7 15.9 Memorandum items Concessional LDOD .. .. .. 85.8 85.7 84.7 83.5 81.1 117.8 127.3 Variable rate LDOD .. .. .. 451.0 530.3 451.2 408.0 383.2 474.2 471.0 Public sector LDOD .. .. .. 681.4 796.4 709.1 688.9 635.2 694.4 663.4 Private sector LDOD .. .. .. 1.1 1.8 1.3 1.2 9.8 19.7 27.6 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 31.8 32.1 33.9 Deutsche mark .. .. .. 35.5 30.7 24.9 19.4 .. .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 .. .. .. Japanese yen .. .. .. 2.1 2.1 2.7 2.2 2.3 2.3 2.3 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.7 0.5 0.3 0.1 0.0 0.0 0.0 U.S.dollars .. .. .. 33.8 39.2 43.9 48.9 51.7 53.2 49.8 Multiple currency .. .. .. 18.2 16.9 17.3 15.3 14.2 12.3 12.1 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 9.8 10.6 10.9 14.1 0.0 0.0 2.0 75 BELARUS (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 0.0 50.4 28.9 2.6 0.0 Debt stock rescheduled .. .. .. 0.0 0.0 0.0 49.2 6.7 0.0 0.0 Principal rescheduled .. .. .. 0.0 0.0 0.0 0.0 16.7 2.7 0.0 Official .. .. .. 0.0 0.0 0.0 0.0 16.7 2.7 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 4.9 0.0 0.0 Official .. .. .. 0.0 0.0 0.0 0.0 4.9 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 .. .. .. 123.7 304.8 -189.6 -155.7 -7.9 363.6 293.3 Net flows on debt .. .. .. 210.0 260.5 -124.9 -123.3 20.5 306.8 141.2 Net change in interest arrears .. .. .. -6.7 3.3 2.6 4.9 -9.1 -3.8 0.9 Interest capitalized .. .. .. 0.0 0.0 0.0 0.0 4.9 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 .. .. .. -81.0 42.4 -61.4 -25.5 -22.4 56.8 63.4 Residual .. .. .. 1.4 -1.5 -5.9 -11.8 -1.7 3.8 -3.6 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.1 5.1 6.0 7.0 3.5 2.6 3.8 Maturity (years) .. .. .. 6.7 8.0 5.5 3.7 7.2 10.6 5.1 Grace period (years) .. .. .. 1.7 2.9 1.9 1.5 2.4 2.5 0.6 Grant element (%) .. .. .. 12.3 19.2 10.4 5.9 22.1 28.7 14.2 Official creditors Interest (%) .. .. .. 5.8 5.7 0.0 6.8 3.0 3.5 0.0 Maturity (years) .. .. .. 8.3 9.8 0.0 5.9 8.3 16.6 4.6 Grace period (years) .. .. .. 1.6 1.8 0.0 2.4 3.3 4.6 0.8 Grant element (%) .. .. .. 14.6 16.9 0.0 9.9 27.3 39.3 22.3 Private creditors Interest (%) .. .. .. 6.6 5.0 6.0 7.2 4.4 1.8 3.9 Maturity (years) .. .. .. 3.3 8.0 5.5 2.5 5.5 5.1 5.1 Grace period (years) .. .. .. 1.9 2.9 1.9 1.0 1.1 0.6 0.6 Grant element (%) .. .. .. 7.5 19.2 10.4 3.6 14.6 19.0 14.0 Memorandum items Commitments .. .. .. 125 73 69 136 158 35 32 Official creditors .. .. .. 85 0 0 49 93 17 1 Private creditors .. .. .. 40 73 69 87 65 18 31 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 15.4 9.4 5.5 4.6 2.7 1.8 0.9 0.2 0.0 0.0 Principal 163.3 171.4 129.1 81.6 46.9 17.7 14.8 11.0 10.3 9.2 Interest 22.4 16.6 11.0 7.0 4.5 3.1 2.7 2.3 2.0 1.8 Official creditors Disbursements 5.0 4.5 5.0 4.4 2.7 1.8 0.9 0.2 0.0 0.0 Principal 76.4 87.1 57.4 44.7 26.7 10.8 9.0 9.0 8.3 7.2 Interest 12.3 9.5 7.0 5.0 3.5 2.6 2.3 2.1 1.8 1.6 Bilateral creditors Disbursements 1.9 1.0 0.6 0.4 0.0 0.0 0.0 0.0 0.0 0.0 Principal 38.7 52.0 31.1 21.8 6.7 5.1 5.1 5.1 5.1 5.1 Interest 4.8 4.1 3.2 2.6 2.2 2.1 1.9 1.7 1.6 1.4 Multilateral creditors Disbursements 3.1 3.6 4.5 4.0 2.7 1.8 0.9 0.2 0.0 0.0 Principal 37.7 35.1 26.3 22.9 19.9 5.8 3.9 3.9 3.2 2.2 Interest 7.6 5.5 3.8 2.4 1.3 0.5 0.4 0.3 0.3 0.2 Private creditors Disbursements 10.4 4.9 0.5 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Principal 86.9 84.3 71.7 37.0 20.3 6.9 5.8 2.0 2.0 2.0 Interest 10.1 7.0 3.9 2.0 1.0 0.5 0.3 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 5.9 5.9 1.7 0.8 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.7 0.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 10.4 4.9 0.5 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Principal 81.0 78.4 70.0 36.1 20.3 6.9 5.8 2.0 2.0 2.0 Interest 9.4 6.7 3.9 1.9 1.0 0.5 0.3 0.2 0.2 0.1 76 BELIZE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 4.1 63.0 153.8 450.1 333.5 392.0 606.6 699.6 833.5 1,057.6 Long-term debt (LDOD) 4.1 47.0 147.3 268.1 282.9 341.0 556.6 648.8 788.5 992.6 Public and publicly guaranteed 4.1 47.0 136.2 268.1 282.9 341.0 556.6 648.8 788.5 992.6 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 6.1 182.0 50.5 51.0 50.0 50.8 45.0 65.0 of which interest arrears on LDOD 0.0 0.0 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.4 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.8 0.0 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 TOTAL DEBT FLOWS Disbursements 4.3 13.7 22.2 48.8 38.7 96.8 218.1 158.9 227.7 263.9 Long-term debt 4.3 13.7 22.2 48.8 38.7 96.8 218.1 158.9 227.7 263.9 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 25.5 25.0 24.5 41.2 47.9 139.7 66.8 Long-term debt 0.0 0.6 9.9 25.5 25.0 24.5 41.2 47.9 139.7 66.8 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 10.0 174.9 -117.8 72.7 176.0 111.8 82.2 217.1 of which short-term debt 0.0 -22.0 0.8 151.5 -131.5 0.5 -1.0 0.8 -5.8 20.0 Interest payments (INT) 0.0 3.1 7.2 14.2 20.9 21.5 35.0 48.3 49.5 67.7 Long-term debt 0.0 0.9 6.6 9.4 15.1 18.6 31.6 46.0 47.8 66.0 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 4.9 5.8 2.8 3.4 2.3 1.7 1.7 Net transfers on debt 4.3 -11.9 2.9 160.6 -138.7 51.3 141.0 63.5 32.7 149.4 Total debt service paid (TDS) 0.0 3.6 20.1 39.7 46.0 46.0 76.1 96.3 189.2 134.5 Long-term debt 0.0 1.5 16.5 34.8 40.1 43.2 72.8 93.9 187.5 132.8 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 4.9 5.8 2.8 3.4 2.3 1.7 1.7 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 13.2 21.9 33.9 39.8 62.4 134.0 205.7 193.6 122.8 245.6 Net flow of long-term debt (ex. IMF) 4.3 13.1 12.3 23.3 13.7 72.3 177.0 111.0 88.1 197.1 Foreign direct investment (net) 7.1 0.0 17.2 12.0 17.7 47.4 17.7 59.9 25.0 40.0 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 4.5 31.1 14.4 11.0 22.7 9.7 8.5 Memo: technical coop. grants 1.1 2.4 12.9 6.9 3.5 4.4 4.6 6.3 5.1 4.0 official net resource flows 6.1 16.2 11.0 19.4 38.5 16.3 18.1 39.4 19.4 27.9 private net resource flows 7.1 5.8 22.9 20.4 23.9 117.7 187.6 154.2 103.4 217.7 NET TRANSFERS 13.2 21.0 19.8 6.3 17.1 92.2 145.7 114.3 41.8 145.6 Interest on long-term debt 0.0 0.9 6.6 9.4 15.1 18.6 31.6 46.0 47.8 66.0 Profit remittances on FDI 0.0 0.0 7.5 24.1 30.2 23.2 28.4 33.3 33.2 34.0 Memo: official net transfers 6.1 15.3 6.8 12.2 28.7 5.8 6.5 26.5 7.7 15.0 private net transfers 7.1 5.8 13.0 -5.9 -11.6 86.4 139.2 87.8 34.0 130.5 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 51.5 192.8 406.3 633.2 662.4 692.8 775.2 792.6 850.5 898.7 Exports of goods, serv. & inc. (XGS) .. .. 268.9 356.5 352.8 398.8 411.2 477.1 515.3 550.0 Worker remit. & comp. of employees 0.0 0.0 18.0 23.0 23.0 21.0 22.0 21.0 17.0 17.0 Imports of goods & services (MGS) .. .. 269.2 405.4 429.2 492.2 582.3 693.7 710.2 758.9 International reserves (RES) .. 12.7 69.8 59.4 44.1 71.3 122.9 112.0 114.5 84.7 Current account balance .. .. 15.4 -31.9 -59.8 -65.7 -131.0 -184.9 -162.7 -180.9 4. DEBT INDICATORS EDT / XGS (%) .. .. 57.2 126.3 94.5 98.3 147.5 146.6 161.7 192.3 EDT / GNI (%) 7.9 32.7 37.9 71.1 50.3 56.6 78.2 88.3 98.0 117.7 TDS / XGS (%) .. .. 7.5 11.1 13.0 11.5 18.5 20.2 36.7 24.4 INT / XGS (%) .. .. 2.7 4.0 5.9 5.4 8.5 10.1 9.6 12.3 INT / GNI (%) 0.0 1.6 1.8 2.2 3.2 3.1 4.5 6.1 5.8 7.5 RES / EDT (%) .. 20.1 45.4 13.2 13.2 18.2 20.3 16.0 13.7 8.0 RES / MGS (months) .. .. 3.1 1.8 1.2 1.7 2.5 1.9 1.9 1.3 Short-term / EDT (%) .. 25.4 4.0 40.4 15.2 13.0 8.2 7.3 5.4 6.1 Concessional / EDT (%) .. 48.7 52.6 25.0 32.6 25.8 17.3 14.3 12.2 9.4 Multilateral / EDT (%) .. 35.7 37.3 23.3 35.6 32.4 22.9 23.6 22.2 20.1 77 BELIZE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 4.1 47.0 147.3 268.1 282.9 341.0 556.6 648.8 788.5 992.6 Public and publicly guaranteed 4.1 47.0 136.2 268.1 282.9 341.0 556.6 648.8 788.5 992.6 Official creditors 4.1 39.9 118.0 208.8 217.5 216.7 228.4 245.8 259.7 283.9 Multilateral 0.0 22.5 57.4 104.8 118.6 127.1 139.1 164.8 185.0 212.2 Concessional 0.0 19.6 30.0 38.5 38.2 36.7 39.7 40.3 43.3 46.1 Bilateral 4.1 17.4 60.6 104.0 98.9 89.6 89.3 81.0 74.7 71.7 Concessional 0.0 11.1 50.9 74.2 70.5 64.6 65.4 59.5 58.2 53.2 Private creditors 0.0 7.1 18.2 59.2 65.5 124.3 328.2 402.9 528.8 708.7 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 74.9 71.9 210.9 307.9 Commercial banks 0.0 0.0 16.4 57.7 65.3 124.3 244.7 317.5 303.3 389.4 Other private 0.0 7.1 1.8 1.5 0.2 0.1 8.6 13.6 14.5 11.4 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 39.9 41.4 41.3 40.0 43.2 44.4 41.7 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 48.8 38.7 96.8 218.1 158.9 227.7 263.9 Public and publicly guaranteed 4.3 13.7 17.9 48.8 38.7 96.8 218.1 158.9 227.7 263.9 Official creditors 4.3 7.9 13.2 31.8 24.7 19.5 26.6 34.9 30.8 41.9 Multilateral 0.0 4.6 5.8 26.5 19.0 18.2 22.3 32.9 26.5 35.0 Concessional 0.0 3.2 2.2 2.4 1.7 2.6 3.9 3.7 4.3 3.2 Bilateral 4.3 3.3 7.5 5.3 5.7 1.3 4.3 2.1 4.2 6.9 Concessional 0.0 0.7 4.6 1.8 0.8 0.4 1.5 1.0 4.2 0.9 Private creditors 0.0 5.8 4.6 17.0 14.0 77.3 191.5 124.0 197.0 222.0 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 86.0 0.0 143.0 100.0 Commercial banks 0.0 0.0 4.6 17.0 14.0 77.3 95.7 117.0 48.0 122.0 Other private 0.0 5.8 0.0 0.0 0.0 0.0 9.8 7.0 5.9 0.0 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 12.6 4.0 3.2 2.3 6.6 5.3 2.1 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 25.5 25.0 24.5 41.2 47.9 139.7 66.8 Public and publicly guaranteed 0.0 0.6 9.0 25.5 25.0 24.5 41.2 47.9 139.7 66.8 Official creditors 0.0 0.5 6.6 16.9 17.3 17.5 19.5 18.2 21.1 22.5 Multilateral 0.0 0.4 2.7 6.5 6.2 7.6 8.8 8.4 9.0 11.3 Concessional 0.0 0.3 1.5 2.8 2.5 2.7 3.3 2.9 2.9 2.2 Bilateral 0.0 0.1 3.9 10.4 11.1 9.9 10.7 9.9 12.1 11.1 Concessional 0.0 0.1 1.1 3.7 4.8 5.7 6.9 6.3 7.1 7.1 Private creditors 0.0 0.1 2.4 8.6 7.8 7.0 21.6 29.7 118.5 44.3 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 11.1 3.1 4.0 3.0 Commercial banks 0.0 0.0 2.3 7.2 6.4 6.9 9.2 24.6 106.5 38.3 Other private 0.0 0.1 0.1 1.4 1.4 0.1 1.3 2.0 8.1 3.1 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 2.7 3.2 3.6 3.4 4.1 4.9 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 23.3 13.7 72.3 177.0 111.0 88.1 197.1 Public and publicly guaranteed 4.3 13.1 8.8 23.3 13.7 72.3 177.0 111.0 88.1 197.1 Official creditors 4.3 7.4 6.6 14.9 7.4 2.0 7.0 16.7 9.6 19.4 Multilateral 0.0 4.2 3.0 20.0 12.8 10.6 13.5 24.5 17.5 23.6 Concessional 0.0 2.8 0.7 -0.5 -0.8 -0.1 0.6 0.8 1.4 1.0 Bilateral 4.3 3.1 3.6 -5.1 -5.4 -8.6 -6.5 -7.8 -7.9 -4.2 Concessional 0.0 0.7 3.5 -1.9 -4.0 -5.2 -5.4 -5.4 -2.9 -6.2 Private creditors 0.0 5.8 2.2 8.4 6.2 70.3 169.9 94.3 78.4 177.7 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 74.9 -3.1 139.0 97.0 Commercial banks 0.0 0.0 2.3 9.9 7.6 70.4 86.5 92.4 -58.4 83.7 Other private 0.0 5.8 -0.1 -1.4 -1.4 -0.1 8.4 5.0 -2.1 -3.1 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 10.3 1.3 -0.1 -1.3 3.3 1.2 -2.8 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 78 BELIZE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.0 0.9 6.6 9.4 15.1 18.6 31.6 46.0 47.8 66.0 Public and publicly guaranteed 0.0 0.9 5.6 9.4 15.1 18.6 31.6 46.0 47.8 66.0 Official creditors 0.0 0.9 4.2 7.2 9.8 10.6 11.6 12.9 11.7 12.9 Multilateral 0.0 0.6 2.7 3.8 5.2 6.0 7.4 9.2 8.2 9.3 Concessional 0.0 0.5 1.0 0.8 0.8 0.8 1.0 0.9 0.7 0.9 Bilateral 0.0 0.3 1.5 3.3 4.6 4.6 4.2 3.8 3.5 3.6 Concessional 0.0 0.0 0.6 1.2 2.5 2.5 2.4 2.1 1.9 2.1 Private creditors 0.0 0.0 1.4 2.2 5.3 8.1 20.0 33.1 36.2 53.1 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 1.3 8.3 7.9 26.8 Commercial banks 0.0 0.0 1.4 2.0 5.2 8.0 18.2 24.0 27.4 25.7 Other private 0.0 0.0 0.0 0.2 0.1 0.0 0.5 0.7 0.9 0.6 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 2.1 2.4 3.1 3.4 3.4 2.9 2.3 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 14.0 -1.4 53.6 145.3 65.0 40.2 131.1 Public and publicly guaranteed 4.3 12.2 3.2 14.0 -1.4 53.6 145.3 65.0 40.2 131.1 Official creditors 4.3 6.5 2.4 7.7 -2.4 -8.6 -4.5 3.8 -2.0 6.5 Multilateral 0.0 3.6 0.3 16.2 7.6 4.6 6.1 15.3 9.3 14.4 Concessional 0.0 2.3 -0.4 -1.3 -1.6 -0.9 -0.4 -0.1 0.6 0.1 Bilateral 4.3 2.9 2.1 -8.4 -10.0 -13.2 -10.7 -11.6 -11.3 -7.9 Concessional 0.0 0.7 3.0 -3.0 -6.5 -7.8 -7.8 -7.5 -4.8 -8.3 Private creditors 0.0 5.8 0.8 6.2 0.9 62.2 149.9 61.2 42.2 124.5 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 73.6 -11.4 131.1 70.2 Commercial banks 0.0 0.0 1.0 7.8 2.3 62.3 68.3 68.4 -85.8 58.0 Other private 0.0 5.8 -0.2 -1.6 -1.4 -0.1 8.0 4.2 -3.0 -3.7 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 8.2 -1.1 -3.1 -4.6 -0.1 -1.7 -5.1 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 34.8 40.1 43.2 72.8 93.9 187.5 132.8 Public and publicly guaranteed 0.0 1.5 14.6 34.8 40.1 43.2 72.8 93.9 187.5 132.8 Official creditors 0.0 1.4 10.8 24.0 27.1 28.1 31.1 31.2 32.8 35.4 Multilateral 0.0 1.0 5.4 10.3 11.4 13.6 16.2 17.5 17.2 20.6 Concessional 0.0 0.9 2.5 3.6 3.3 3.5 4.3 3.8 3.6 3.1 Bilateral 0.0 0.4 5.4 13.7 15.7 14.5 14.9 13.6 15.6 14.8 Concessional 0.0 0.1 1.6 4.9 7.3 8.2 9.3 8.4 9.0 9.2 Private creditors 0.0 0.1 3.8 10.8 13.1 15.1 41.6 62.8 154.7 97.5 Bonds 0.0 0.0 0.0 0.0 0.0 0.0 12.4 11.4 11.9 29.8 Commercial banks 0.0 0.0 3.7 9.2 11.7 15.0 27.4 48.6 133.9 64.0 Other private 0.0 0.1 0.2 1.6 1.4 0.1 1.8 2.8 9.0 3.7 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 4.4 5.1 6.3 6.9 6.7 7.0 7.2 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 73.5 97.5 219.8 246.1 190.8 132.3 96.4 Official creditors 0.0 17.9 49.8 56.5 72.5 147.9 187.7 137.4 116.6 86.3 Private creditors 0.0 4.8 11.1 17.0 25.0 71.9 58.4 53.4 15.8 10.0 Memorandum items Concessional LDOD 0.0 30.7 80.9 112.7 108.7 101.3 105.1 99.8 101.4 99.4 Variable rate LDOD 0.0 0.0 38.6 61.4 61.9 62.2 99.6 116.6 127.6 134.4 Public sector LDOD 4.1 47.0 136.2 268.1 282.9 341.0 556.6 648.8 788.5 992.6 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 3.2 Deutsche mark 0.0 0.8 0.7 0.1 0.1 0.0 0.0 .. .. .. French franc 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 6.2 5.2 3.7 1.8 1.3 1.0 0.7 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 68.8 84.1 88.7 92.6 93.1 93.9 94.9 Multiple currency 0.0 23.5 23.4 17.2 2.8 1.8 0.8 0.5 0.3 0.2 Special drawing rights 0.0 0.0 0.5 0.4 0.3 0.2 0.1 0.1 0.0 0.0 All other currencies 0.0 31.1 6.5 7.3 7.4 5.5 4.7 1.0 1.3 1.1 79 BELIZE (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 0.0 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 .. .. 9.0 168.6 -116.6 58.6 214.6 93.0 133.9 224.1 Net flows on debt 4.3 -8.9 10.0 174.9 -117.8 72.7 176.0 111.8 82.2 217.1 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 0.0 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 -5.7 1.1 -2.7 -2.1 -1.2 6.4 7.0 Residual .. .. 0.9 0.0 0.1 -11.5 40.7 -17.6 45.2 0.0 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.0 5.5 5.0 6.8 6.6 5.9 8.6 5.0 8.4 9.3 Maturity (years) 26.0 18.6 10.0 15.1 17.7 19.1 12.0 10.1 9.8 7.8 Grace period (years) 3.0 4.7 2.5 4.3 4.2 4.5 3.7 3.8 8.7 6.4 Grant element (%) 20.7 29.7 21.2 20.4 20.1 25.4 7.7 14.1 4.7 2.2 Official creditors Interest (%) 7.0 4.4 5.0 6.4 6.4 6.3 6.3 5.8 6.1 4.1 Maturity (years) 26.0 26.0 10.0 16.4 22.1 21.7 21.1 20.6 19.6 16.6 Grace period (years) 3.0 6.8 2.5 5.4 4.9 4.9 5.3 5.2 4.2 3.9 Grant element (%) 20.7 43.8 21.2 21.4 23.9 24.4 24.0 27.0 23.4 30.1 Private creditors Interest (%) 0.0 7.3 0.0 7.2 6.9 5.3 9.5 4.6 8.6 9.5 Maturity (years) 0.0 7.7 0.0 14.1 9.6 15.7 8.1 5.4 9.1 7.4 Grace period (years) 0.0 1.7 0.0 3.3 2.9 4.0 3.0 3.2 9.0 6.5 Grant element (%) 0.0 8.6 0.0 19.6 13.2 26.7 0.7 8.3 3.3 0.9 Memorandum items Commitments 4 12 5 47 63 170 224 112 171 227 Official creditors 4 7 5 21 41 96 68 34 12 11 Private creditors 0 5 0 26 22 74 156 77 159 216 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 41.5 27.5 15.3 7.5 2.9 0.9 0.4 0.2 0.1 0.0 Principal 99.4 121.6 68.2 69.0 58.8 53.7 67.1 43.8 184.1 36.6 Interest 79.0 71.7 65.7 61.0 56.2 52.0 47.1 42.5 38.2 22.4 Official creditors Disbursements 34.1 25.4 14.8 7.5 2.9 0.9 0.4 0.2 0.1 0.0 Principal 26.4 23.4 25.9 27.1 26.0 24.8 23.1 21.6 18.8 16.8 Interest 14.5 14.5 14.0 13.1 11.8 10.6 9.4 8.3 7.3 6.4 Bilateral creditors Disbursements 2.9 2.6 1.6 0.9 0.5 0.3 0.2 0.1 0.1 0.0 Principal 7.9 7.1 6.4 6.4 6.3 5.6 4.5 3.7 3.4 1.9 Interest 3.2 3.1 2.9 2.6 2.4 2.1 1.8 1.6 1.4 1.3 Multilateral creditors Disbursements 31.1 22.8 13.2 6.5 2.4 0.6 0.2 0.1 0.0 0.0 Principal 18.5 16.3 19.5 20.7 19.7 19.1 18.6 17.8 15.5 14.9 Interest 11.2 11.4 11.2 10.4 9.5 8.5 7.6 6.7 5.9 5.2 Private creditors Disbursements 7.5 2.0 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 73.0 98.2 42.3 41.8 32.8 28.9 44.1 22.3 165.3 19.8 Interest 64.5 57.1 51.6 48.0 44.4 41.4 37.7 34.2 30.9 15.9 Commercial banks Disbursements 7.5 2.0 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 64.4 63.2 35.2 35.8 26.8 22.9 38.1 21.8 21.8 19.3 Interest 34.4 29.1 25.6 22.5 19.4 17.0 13.8 10.7 8.4 6.2 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 8.7 34.9 7.0 6.0 6.0 6.0 6.0 0.4 143.4 0.4 Interest 30.1 28.1 26.1 25.5 24.9 24.4 23.9 23.5 22.5 9.8 80 BENIN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 41 424 1,292 1,627 1,651 1,687 1,591 1,661 1,836 1,828 Long-term debt (LDOD) 41 334 1,218 1,396 1,472 1,473 1,442 1,505 1,689 1,726 Public and publicly guaranteed 41 334 1,218 1,396 1,472 1,473 1,442 1,505 1,689 1,726 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 16 18 95 94 92 84 77 73 73 Short-term debt 1 73 55 136 86 122 65 79 74 29 of which interest arrears on LDOD 1 5 21 8 8 8 0 0 0 0 Official creditors 0 0 18 7 7 7 0 0 0 0 Private creditors 1 5 2 1 1 1 0 0 0 0 Memo: principal arrears on LDOD 3 13 69 71 73 73 0 0 0 0 Official creditors 1 1 60 68 69 70 0 0 0 0 Private creditors 2 13 9 3 4 3 0 0 0 0 Memo: export credits 0 0 303 125 141 126 116 103 142 146 TOTAL DEBT FLOWS Disbursements 2 71 120 57 62 83 39 124 72 69 Long-term debt 2 62 120 51 62 73 30 113 67 60 IMF purchases 0 9 0 6 0 10 9 10 5 9 Principal repayments 1 6 20 32 35 45 55 32 33 42 Long-term debt 1 6 19 28 29 36 45 23 23 32 IMF repurchases 0 0 2 4 5 9 11 10 10 10 Net flows on debt 1 42 92 114 -24 74 -65 105 34 -17 of which short-term debt 0 -24 -8 89 -50 36 -48 13 -5 -45 Interest payments (INT) 0 14 18 23 26 25 20 17 26 18 Long-term debt 0 3 14 18 21 20 15 14 22 16 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 11 4 4 5 5 4 3 3 2 Net transfers on debt 1 27 74 91 -50 49 -85 88 9 -35 Total debt service paid (TDS) 2 20 38 55 61 70 75 50 58 60 Long-term debt 2 9 33 46 50 56 60 37 45 48 IMF repurchases and charges 0 0 2 5 6 9 11 10 10 10 Short-term debt (interest only) 0 11 4 4 5 5 4 3 3 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 17 101 274 176 188 176 195 267 210 262 Net flow of long-term debt (ex. IMF) 1 56 102 22 32 37 -14 91 44 28 Foreign direct investment (net) 7 4 62 26 35 39 64 44 41 51 Portfolio equity flows 0 0 0 2 1 2 0 0 0 0 Grants (excluding technical coop.) 9 41 110 126 120 98 145 132 125 183 Memo: technical coop. grants 6 26 49 78 67 65 68 62 68 91 official net resource flows 9 97 212 148 152 135 131 223 169 211 private net resource flows 8 4 62 28 36 41 64 44 41 51 NET TRANSFERS 17 96 260 147 155 148 176 245 181 245 Interest on long-term debt 0 3 14 18 21 20 15 14 22 16 Profit remittances on FDI 0 3 0 12 12 9 4 7 6 1 Memo: official net transfers 9 95 198 130 131 115 116 209 147 194 private net transfers 8 1 62 17 24 33 61 36 35 51 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 330 1,402 1,806 2,127 2,321 2,372 2,242 2,351 2,669 3,450 Exports of goods, serv. & inc. (XGS) .. 318 465 631 671 696 637 628 .. .. Worker remit. & comp. of employees 0 77 101 71 90 77 87 84 84 84 Imports of goods & services (MGS) .. 428 492 794 805 890 748 788 .. .. International reserves (RES) 16 15 69 253 261 400 458 578 616 510 Current account balance .. -36 -18 -154 -133 -156 -81 -75 .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 133.1 277.9 257.8 246.1 242.5 249.8 264.5 .. .. EDT / GNI (%) 12.6 30.2 71.5 76.5 71.1 71.1 70.9 70.7 68.8 53.0 TDS / XGS (%) .. 6.3 8.2 8.7 9.1 10.1 11.8 7.9 .. .. INT / XGS (%) .. 4.5 3.8 3.6 3.9 3.6 3.1 2.8 .. .. INT / GNI (%) 0.1 1.0 1.0 1.1 1.1 1.1 0.9 0.7 1.0 0.5 RES / EDT (%) 37.5 3.5 5.4 15.6 15.8 23.7 28.8 34.8 33.5 27.9 RES / MGS (months) .. 0.4 1.7 3.8 3.9 5.4 7.3 8.8 .. .. Short-term / EDT (%) 2.1 17.3 4.3 8.4 5.2 7.2 4.1 4.7 4.0 1.6 Concessional / EDT (%) 70.3 39.2 78.1 77.7 80.7 80.6 84.3 84.9 86.2 90.1 Multilateral / EDT (%) 1.0 24.5 41.6 53.5 56.5 56.7 59.7 59.6 62.6 70.8 81 BENIN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 41 334 1,218 1,396 1,472 1,473 1,442 1,505 1,689 1,726 Public and publicly guaranteed 41 334 1,218 1,396 1,472 1,473 1,442 1,505 1,689 1,726 Official creditors 29 217 1,202 1,393 1,468 1,470 1,439 1,503 1,686 1,722 Multilateral 0 104 537 871 933 957 950 989 1,149 1,294 Concessional 0 84 497 852 904 933 929 971 1,127 1,271 Bilateral 29 113 665 522 536 513 489 513 537 429 Concessional 29 82 512 413 429 426 412 439 456 377 Private creditors 11 118 17 3 4 3 3 3 3 4 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 3 4 3 3 3 3 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 0 0 0 0 0 0 0 0 0 0 IDA 0 52 326 510 543 574 578 598 654 729 DISBURSEMENTS 2 62 120 51 62 73 30 113 67 60 Public and publicly guaranteed 2 62 120 51 62 73 30 113 67 60 Official creditors 1 58 120 51 62 73 30 113 67 60 Multilateral 0 24 91 42 45 73 29 97 60 56 Concessional 0 19 82 41 34 70 29 97 60 56 Bilateral 1 35 29 9 17 1 2 16 7 5 Concessional 1 16 29 9 17 1 2 16 7 5 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 20 20 48 36 48 23 28 PRINCIPAL REPAYMENTS 1 6 19 28 29 36 45 23 23 32 Public and publicly guaranteed 1 6 19 28 29 36 45 23 23 32 Official creditors 1 2 18 28 29 36 45 23 23 32 Multilateral 0 1 18 18 18 20 15 15 13 14 Concessional 0 0 7 14 15 17 12 12 11 12 Bilateral 1 1 0 10 11 16 30 8 10 17 Concessional 1 1 0 4 5 5 24 8 9 15 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 4 4 6 4 4 3 4 NET FLOWS ON DEBT 1 56 102 22 32 37 -14 91 44 28 Public and publicly guaranteed 1 56 102 22 32 37 -14 91 44 28 Official creditors 0 56 102 22 32 37 -14 91 44 28 Multilateral 0 23 73 24 27 52 13 82 47 41 Concessional 0 19 75 27 19 53 16 85 49 43 Bilateral 0 33 29 -2 5 -15 -28 9 -3 -13 Concessional 0 15 29 4 12 -5 -22 9 -2 -11 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 16 16 43 33 44 20 23 82 BENIN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 3 14 18 21 20 15 14 22 16 Public and publicly guaranteed 0 3 14 18 21 20 15 14 22 16 Official creditors 0 2 14 18 21 20 15 14 22 16 Multilateral 0 1 13 10 10 10 9 8 12 11 Concessional 0 1 6 9 8 8 8 7 11 9 Bilateral 0 1 1 8 11 10 6 6 10 6 Concessional 0 0 1 3 4 4 3 4 6 3 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 5 NET TRANSFERS ON DEBT 1 53 88 4 11 17 -30 77 22 12 Public and publicly guaranteed 1 53 88 4 11 17 -30 77 22 12 Official creditors 0 54 88 4 11 17 -30 77 22 12 Multilateral 0 21 60 14 17 42 4 74 35 30 Concessional 0 18 69 18 11 45 8 78 38 34 Bilateral 0 33 28 -9 -6 -25 -34 2 -13 -19 Concessional 0 15 28 2 8 -9 -25 5 -8 -14 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 12 12 39 29 40 16 19 DEBT SERVICE (LTDS) 2 9 33 46 50 56 60 37 45 48 Public and publicly guaranteed 2 9 33 46 50 56 60 37 45 48 Official creditors 2 4 32 46 50 56 60 37 45 48 Multilateral 0 2 31 28 28 30 25 23 25 25 Concessional 0 1 13 23 23 25 20 19 22 22 Bilateral 2 2 1 18 22 26 35 14 20 23 Concessional 2 1 1 7 9 10 27 11 15 18 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 8 10 8 8 7 9 UNDISBURSED DEBT 15 532 414 322 384 392 402 353 406 377 Official creditors 15 154 414 322 384 392 402 353 406 377 Private creditors 0 378 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 29 166 1,009 1,265 1,333 1,359 1,341 1,411 1,583 1,647 Variable rate LDOD 0 2 26 13 14 12 13 12 13 5 Public sector LDOD 41 334 1,218 1,396 1,472 1,473 1,442 1,505 1,689 1,726 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 7.7 Deutsche mark 5.3 0.3 0.3 0.2 0.2 0.2 0.2 .. .. .. French franc 16.7 27.2 18.7 9.2 8.5 7.2 6.6 .. .. .. Japanese yen 0.0 0.0 0.0 1.0 2.2 2.5 2.3 1.9 3.7 2.0 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 55.3 54.5 56.4 60.9 61.4 58.6 59.7 Multiple currency 0.0 6.7 7.3 14.4 14.7 14.6 14.2 13.0 12.8 13.8 Special drawing rights 0.0 0.0 1.9 1.9 1.9 1.9 1.9 1.8 1.8 2.1 All other currencies 71.5 46.9 20.2 17.7 17.7 17.0 13.7 12.6 13.9 14.3 83 BENIN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 12 0 0 0 53 24 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 9 0 0 0 37 0 0 0 Official .. .. 4 0 0 0 37 0 0 0 Private .. .. 5 0 0 0 0 0 0 0 Interest rescheduled .. .. 1 0 0 0 6 3 0 0 Official .. .. 0 0 0 0 6 3 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 122 1 0 0 4 10 11 12 Memo: interest forgiven .. .. 3 0 0 0 1 1 0 1 Debt stock reduction .. .. 0 0 0 0 0 0 0 59 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 50 34 24 36 -96 70 175 -8 Net flows on debt 1 42 92 114 -24 74 -65 105 34 -17 Net change in interest arrears .. .. -8 0 0 0 -8 0 0 0 Interest capitalized .. .. 1 0 0 0 6 3 0 0 Debt forgiveness or reduction .. .. -122 -1 0 0 -4 -10 -11 -71 Cross-currency valuation .. .. 62 -143 -38 -36 -53 -35 80 110 Residual .. .. 24 65 85 -3 28 7 73 -31 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.8 8.3 1.3 1.7 2.0 2.1 1.6 0.9 0.9 0.0 Maturity (years) 32.0 11.9 39.2 22.5 32.6 30.2 36.0 40.2 39.3 0.0 Grace period (years) 7.0 3.7 8.4 6.4 8.6 8.1 8.3 12.8 9.5 0.0 Grant element (%) 59.9 9.0 72.0 56.0 64.6 62.8 68.5 78.6 76.9 0.0 Official creditors Interest (%) 1.1 4.4 1.3 1.7 2.0 2.1 1.6 0.9 0.9 0.0 Maturity (years) 36.0 26.1 39.2 22.5 32.6 30.2 36.0 40.2 39.3 0.0 Grace period (years) 8.0 5.3 8.4 6.4 8.6 8.1 8.3 12.8 9.5 0.0 Grant element (%) 67.7 40.8 72.0 56.0 64.6 62.8 68.5 78.6 76.9 0.0 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 10.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.5 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 11.7 4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 7 448 85 43 117 101 109 77 101 0 Official creditors 6 51 85 43 117 101 109 77 101 0 Private creditors 1 397 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 77 95 70 50 36 22 14 6 4 2 Principal 85 84 83 82 84 84 88 88 91 92 Interest 20 19 19 18 18 17 16 15 14 13 Official creditors Disbursements 77 95 70 50 36 22 14 6 4 2 Principal 83 82 83 82 84 84 88 88 91 92 Interest 19 19 19 18 18 17 16 15 14 13 Bilateral creditors Disbursements 5 5 1 0 0 0 0 0 0 0 Principal 43 39 34 33 34 34 34 34 34 33 Interest 6 5 5 4 4 4 3 3 3 2 Multilateral creditors Disbursements 72 90 69 50 36 22 14 6 4 2 Principal 40 42 49 49 50 50 54 54 58 59 Interest 13 14 14 14 14 13 13 12 11 10 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2 2 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 2 2 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 84 BHUTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 83.5 119.6 171.0 183.8 204.2 265.2 377.9 421.9 Long-term debt (LDOD) .. .. 80.3 117.6 171.0 181.8 202.2 265.2 376.9 414.9 Public and publicly guaranteed .. .. 80.3 117.6 171.0 181.8 202.2 265.2 376.9 414.9 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 2.0 0.0 2.0 2.0 0.0 1.0 7.0 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 TOTAL DEBT FLOWS Disbursements .. .. 8.4 16.8 60.3 8.3 34.8 79.5 97.8 27.1 Long-term debt .. .. 8.4 16.8 60.3 8.3 34.8 79.5 97.8 27.1 IMF purchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 2.9 4.9 7.0 4.9 4.7 4.5 4.5 4.8 Long-term debt .. .. 2.9 4.9 7.0 4.9 4.7 4.5 4.5 4.8 IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 6.5 13.8 51.3 5.4 30.1 72.9 94.3 28.3 of which short-term debt .. .. 1.0 1.9 -2.0 2.0 0.0 -2.0 1.0 6.0 Interest payments (INT) .. .. 2.3 2.3 2.1 2.1 2.0 1.7 1.9 2.3 Long-term debt .. .. 2.0 2.2 2.1 2.0 1.8 1.7 1.9 2.3 IMF charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 0.2 0.1 0.0 0.1 0.2 0.0 0.0 0.0 Net transfers on debt .. .. 4.2 11.5 49.1 3.3 28.1 71.2 92.4 26.0 Total debt service paid (TDS) .. .. 5.2 7.2 9.2 7.0 6.7 6.3 6.4 7.1 Long-term debt .. .. 5.0 7.1 9.2 6.9 6.5 6.3 6.4 7.1 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 0.1 0.0 0.1 0.2 0.0 0.0 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 24.0 46.9 81.9 41.5 50.6 105.2 125.8 64.2 Net flow of long-term debt (ex. IMF) .. .. 5.5 11.9 53.3 3.4 30.1 74.9 93.3 22.3 Foreign direct investment (net) .. .. 1.6 -0.7 0.3 0.3 -0.1 0.3 0.3 0.2 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 35.7 28.3 37.8 20.6 30.0 32.2 41.7 Memo: technical coop. grants .. .. 23.7 23.6 19.9 22.4 21.9 17.1 19.7 22.8 official net resource flows .. .. 25.0 49.9 83.9 41.2 50.7 104.9 125.5 64.0 private net resource flows .. .. -1.0 -3.0 -2.0 0.3 -0.1 0.3 0.3 0.2 NET TRANSFERS .. .. 21.9 44.7 79.7 39.5 48.8 103.5 123.9 61.8 Interest on long-term debt .. .. 2.0 2.2 2.1 2.0 1.8 1.7 1.9 2.3 Profit remittances on FDI .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: official net transfers .. .. 24.6 47.9 81.8 39.2 48.9 103.2 123.6 61.6 private net transfers .. .. -2.6 -3.3 -2.1 0.3 -0.1 0.3 0.3 0.2 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 266.0 362.8 346.7 373.4 427.9 478.9 535.5 584.3 Exports of goods, serv. & inc. (XGS) .. .. 94.9 118.9 128.0 130.4 139.7 148.8 138.6 .. 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) .. .. 122.9 147.9 177.2 192.8 258.4 272.7 262.7 .. International reserves (RES) .. .. 88.8 188.7 256.8 292.3 317.6 323.4 354.9 366.6 Current account balance .. .. -28.0 21.9 16.8 13.2 -13.4 -40.0 -41.9 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 88.0 100.6 133.6 141.0 146.2 178.2 272.6 .. EDT / GNI (%) .. .. 31.4 33.0 49.3 49.2 47.7 55.4 70.6 72.2 TDS / XGS (%) .. .. 5.5 6.1 7.2 5.4 4.8 4.2 4.6 .. INT / XGS (%) .. .. 2.4 2.0 1.7 1.6 1.4 1.2 1.4 .. INT / GNI (%) .. .. 0.9 0.6 0.6 0.6 0.5 0.4 0.4 0.4 RES / EDT (%) .. .. 106.3 157.8 150.1 159.0 155.5 122.0 93.9 86.9 RES / MGS (months) .. .. 8.7 15.3 17.4 18.2 14.8 14.2 16.2 .. Short-term / EDT (%) .. .. 3.9 1.7 0.0 1.1 1.0 0.0 0.3 1.7 Concessional / EDT (%) .. .. 74.0 96.4 69.5 71.2 65.4 51.7 49.4 50.3 Multilateral / EDT (%) .. .. 50.1 61.5 47.5 50.8 49.3 40.5 37.2 35.3 85 BHUTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 80.3 117.6 171.0 181.8 202.2 265.2 376.9 414.9 Public and publicly guaranteed .. .. 80.3 117.6 171.0 181.8 202.2 265.2 376.9 414.9 Official creditors .. .. 61.8 115.4 171.0 181.8 202.2 265.2 376.9 414.9 Multilateral .. .. 41.9 73.5 81.2 93.4 100.6 107.5 140.5 149.1 Concessional .. .. 41.9 73.5 81.2 93.4 100.6 107.5 140.5 149.1 Bilateral .. .. 19.9 41.8 89.8 88.4 101.6 157.6 236.4 265.8 Concessional .. .. 19.9 41.8 37.7 37.5 32.9 29.6 46.1 63.1 Private creditors .. .. 18.5 2.3 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 Commercial banks .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. .. 18.5 2.3 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 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 22.5 23.9 24.1 26.1 30.7 38.5 49.2 DISBURSEMENTS .. .. 8.4 16.8 60.3 8.3 34.8 79.5 97.8 27.1 Public and publicly guaranteed .. .. 8.4 16.8 60.3 8.3 34.8 79.5 97.8 27.1 Official creditors .. .. 8.4 16.8 60.3 8.3 34.8 79.5 97.8 27.1 Multilateral .. .. 7.2 9.2 5.6 3.1 11.8 13.5 23.0 12.7 Concessional .. .. 7.2 9.2 5.6 3.1 11.8 13.5 23.0 12.7 Bilateral .. .. 1.2 7.5 54.7 5.2 23.0 66.0 74.9 14.4 Concessional .. .. 1.2 7.5 0.9 5.2 0.9 3.2 13.9 12.1 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 1.1 0.7 1.0 3.6 6.0 5.5 6.9 PRINCIPAL REPAYMENTS .. .. 2.9 4.9 7.0 4.9 4.7 4.5 4.5 4.8 Public and publicly guaranteed .. .. 2.9 4.9 7.0 4.9 4.7 4.5 4.5 4.8 Official creditors .. .. 0.3 2.6 4.8 4.9 4.7 4.5 4.5 4.8 Multilateral .. .. 0.0 0.9 1.0 1.3 1.3 1.2 1.2 1.3 Concessional .. .. 0.0 0.9 1.0 1.3 1.3 1.2 1.2 1.3 Bilateral .. .. 0.3 1.7 3.8 3.6 3.4 3.4 3.4 3.5 Concessional .. .. 0.3 1.7 3.8 3.6 3.4 3.4 3.4 3.5 Private creditors .. .. 2.6 2.3 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 .. .. 2.6 2.3 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 .. .. 0.0 0.2 0.2 0.3 0.3 0.3 0.3 0.3 NET FLOWS ON DEBT .. .. 5.5 11.9 53.3 3.4 30.1 74.9 93.3 22.3 Public and publicly guaranteed .. .. 5.5 11.9 53.3 3.4 30.1 74.9 93.3 22.3 Official creditors .. .. 8.1 14.2 55.5 3.4 30.1 74.9 93.3 22.3 Multilateral .. .. 7.2 8.4 4.6 1.8 10.5 12.3 21.8 11.4 Concessional .. .. 7.2 8.4 4.6 1.8 10.5 12.3 21.8 11.4 Bilateral .. .. 0.9 5.8 50.9 1.6 19.6 62.6 71.5 10.9 Concessional .. .. 0.9 5.8 -2.9 1.6 -2.5 -0.1 10.5 8.6 Private creditors .. .. -2.6 -2.3 -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 .. .. -2.6 -2.3 -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 .. .. 2.0 0.9 0.5 0.7 3.3 5.7 5.2 6.6 86 BHUTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 2.0 2.2 2.1 2.0 1.8 1.7 1.9 2.3 Public and publicly guaranteed .. .. 2.0 2.2 2.1 2.0 1.8 1.7 1.9 2.3 Official creditors .. .. 0.4 2.0 2.0 2.0 1.8 1.7 1.9 2.3 Multilateral .. .. 0.3 0.6 0.7 0.9 0.9 0.9 1.0 1.2 Concessional .. .. 0.3 0.6 0.7 0.9 0.9 0.9 1.0 1.2 Bilateral .. .. 0.1 1.3 1.3 1.1 0.9 0.8 0.9 1.1 Concessional .. .. 0.1 1.3 1.3 1.1 0.9 0.8 0.9 1.1 Private creditors .. .. 1.6 0.3 0.1 0.0 0.0 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 0.3 0.1 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 .. .. 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 NET TRANSFERS ON DEBT .. .. 3.4 9.7 51.1 1.4 28.3 73.2 91.4 20.0 Public and publicly guaranteed .. .. 3.4 9.7 51.1 1.4 28.3 73.2 91.4 20.0 Official creditors .. .. 7.7 12.2 53.5 1.4 28.3 73.2 91.4 20.0 Multilateral .. .. 6.9 7.7 4.0 0.9 9.6 11.4 20.8 10.2 Concessional .. .. 6.9 7.7 4.0 0.9 9.6 11.4 20.8 10.2 Bilateral .. .. 0.8 4.5 49.5 0.5 18.7 61.8 70.6 9.8 Concessional .. .. 0.8 4.5 -4.3 0.5 -3.5 -1.0 9.6 7.5 Private creditors .. .. -4.2 -2.6 -2.4 0.0 0.0 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 -2.6 -2.4 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 .. .. 1.9 0.8 0.4 0.6 3.1 5.5 5.0 6.3 DEBT SERVICE (LTDS) .. .. 5.0 7.1 9.2 6.9 6.5 6.3 6.4 7.1 Public and publicly guaranteed .. .. 5.0 7.1 9.2 6.9 6.5 6.3 6.4 7.1 Official creditors .. .. 0.7 4.6 6.8 6.9 6.5 6.3 6.4 7.1 Multilateral .. .. 0.3 1.5 1.7 2.2 2.2 2.1 2.2 2.5 Concessional .. .. 0.3 1.5 1.7 2.2 2.2 2.1 2.2 2.5 Bilateral .. .. 0.4 3.1 5.1 4.8 4.3 4.2 4.2 4.6 Concessional .. .. 0.4 3.1 5.1 4.8 4.3 4.2 4.2 4.6 Private creditors .. .. 4.2 2.6 2.4 0.0 0.0 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 2.6 2.4 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 .. .. 0.1 0.3 0.4 0.4 0.4 0.4 0.5 0.6 UNDISBURSED DEBT .. .. 48.4 189.7 146.0 133.5 173.9 97.7 165.1 250.8 Official creditors .. .. 48.4 189.7 146.0 133.5 173.9 97.7 165.1 250.8 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. .. 61.8 115.4 118.9 130.8 133.5 137.1 186.6 212.3 Variable rate LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD .. .. 80.3 117.6 171.0 181.8 202.2 265.2 376.9 414.9 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 12.3 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 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 21.6 15.7 15.5 17.7 17.6 18.3 20.6 Multiple currency .. .. 22.8 32.6 24.2 29.0 25.7 17.7 14.0 10.2 Special drawing rights .. .. 9.3 10.8 7.9 7.1 6.6 5.4 5.1 5.2 All other currencies .. .. 24.8 35.0 52.2 48.4 50.1 54.4 54.2 51.8 87 BHUTAN (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 0.0 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 .. .. 9.7 6.6 51.4 12.8 20.4 60.9 112.7 44.1 Net flows on debt .. .. 6.5 13.8 51.3 5.4 30.1 72.9 94.3 28.3 Net change in interest arrears .. .. 0.3 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 -7.9 0.0 -2.2 -10.6 -7.7 10.6 27.4 Residual .. .. 1.8 0.7 0.2 9.6 1.0 -4.3 7.8 -11.7 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 0.0 0.0 2.1 0.0 3.6 1.1 6.8 5.6 Maturity (years) .. .. 0.0 0.0 39.5 0.0 31.7 31.5 23.2 28.6 Grace period (years) .. .. 0.0 0.0 10.0 0.0 10.0 8.8 9.9 9.9 Grant element (%) .. .. 0.0 0.0 68.8 0.0 53.1 72.6 24.8 37.2 Official creditors Interest (%) .. .. 0.0 0.0 2.1 0.0 3.6 1.1 6.8 5.6 Maturity (years) .. .. 0.0 0.0 39.5 0.0 31.7 31.5 23.2 28.6 Grace period (years) .. .. 0.0 0.0 10.0 0.0 10.0 8.8 9.9 9.9 Grant element (%) .. .. 0.0 0.0 68.8 0.0 53.1 72.6 24.8 37.2 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 .. .. 0 0 28 0 85 8 175 99 Official creditors .. .. 0 0 28 0 85 8 175 99 Private creditors .. .. 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 118.3 58.5 29.2 17.3 8.9 6.0 4.8 3.0 1.9 1.3 Principal 5.2 5.0 33.9 34.6 33.2 34.4 37.9 38.0 38.5 38.8 Interest 23.6 31.1 34.4 33.1 30.9 28.4 25.9 23.2 20.5 17.9 Official creditors Disbursements 118.3 58.5 29.2 17.3 8.9 6.0 4.8 3.0 1.9 1.3 Principal 5.2 5.0 33.9 34.6 33.2 34.4 37.9 38.0 38.5 38.8 Interest 23.6 31.1 34.4 33.1 30.9 28.4 25.9 23.2 20.5 17.9 Bilateral creditors Disbursements 102.0 44.2 17.3 7.2 0.0 0.0 0.0 0.0 0.0 0.0 Principal 3.3 2.9 31.3 31.9 29.5 29.0 31.5 31.5 31.5 31.5 Interest 22.1 29.4 32.4 30.9 28.6 26.0 23.5 20.9 18.3 15.7 Multilateral creditors Disbursements 16.3 14.3 11.9 10.1 8.9 6.0 4.8 3.0 1.9 1.3 Principal 1.8 2.1 2.6 2.8 3.8 5.4 6.4 6.5 7.0 7.3 Interest 1.5 1.7 2.0 2.2 2.3 2.3 2.4 2.3 2.3 2.2 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 88 BOLIVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 588 2,702 4,275 5,237 5,616 5,548 5,785 4,692 5,004 5,684 Long-term debt (LDOD) 491 2,274 3,864 4,559 4,938 4,889 5,162 4,105 4,438 5,289 Public and publicly guaranteed 480 2,182 3,687 4,133 4,296 4,246 4,136 3,126 3,515 4,258 Private nonguaranteed 11 92 177 426 643 643 1,026 979 923 1,031 Use of IMF credit 6 126 257 248 264 247 220 207 195 279 Short-term debt 91 303 154 429 413 413 402 380 370 116 of which interest arrears on LDOD 0 3 6 3 3 3 2 0 0 0 Official creditors 0 2 2 3 3 3 2 0 0 0 Private creditors 0 0 4 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 3 22 31 28 28 18 19 0 0 0 Official creditors 3 15 9 18 19 18 19 0 0 0 Private creditors 0 7 22 9 9 0 0 0 0 0 Memo: export credits 0 0 794 495 269 226 204 130 66 52 TOTAL DEBT FLOWS Disbursements 58 553 331 666 492 442 758 571 618 1,031 Long-term debt 58 457 300 643 446 419 743 547 618 941 IMF purchases 0 96 31 23 46 23 15 24 0 90 Principal repayments 19 145 241 263 268 288 454 361 363 298 Long-term debt 19 145 196 229 233 265 434 340 346 279 IMF repurchases 0 0 46 34 35 23 20 21 17 19 Net flows on debt 39 180 32 480 208 154 293 191 245 480 of which short-term debt 0 -228 -57 78 -16 0 -10 -20 -10 -254 Interest payments (INT) 7 220 144 212 165 130 180 184 115 129 Long-term debt 7 173 117 189 143 108 159 168 100 122 IMF charges 0 3 13 1 1 1 1 1 1 1 Short-term debt 0 45 14 21 21 21 20 15 15 6 Net transfers on debt 32 -40 -112 268 42 24 113 7 129 351 Total debt service paid (TDS) 26 365 385 475 433 418 634 544 479 427 Long-term debt 26 318 313 418 376 373 593 507 446 400 IMF repurchases and charges 0 3 59 36 36 24 21 22 18 20 Short-term debt (interest only) 0 45 14 21 21 21 20 15 15 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS -34 451 334 1,444 1,395 1,370 1,266 1,264 1,548 1,280 Net flow of long-term debt (ex. IMF) 39 312 104 414 213 153 309 207 272 663 Foreign direct investment (net) -76 91 27 731 949 1,011 736 706 677 167 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 48 202 299 233 206 221 352 600 451 Memo: technical coop. grants 9 41 108 199 185 193 150 232 213 266 official net resource flows 39 204 330 503 338 359 334 581 947 985 private net resource flows -73 247 3 941 1,058 1,011 932 683 601 295 NET TRANSFERS -41 258 200 1,174 1,171 1,120 959 929 1,265 924 Interest on long-term debt 7 173 117 189 143 108 159 168 100 122 Profit remittances on FDI 0 19 17 80 81 142 148 168 183 234 Memo: official net transfers 35 161 230 355 202 258 223 484 880 900 private net transfers -77 97 -30 820 969 862 736 445 385 24 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,256 2,784 4,626 7,730 8,335 8,089 8,165 7,812 7,596 7,565 Exports of goods, serv. & inc. (XGS) .. 1,046 998 1,580 1,547 1,540 1,711 1,749 1,742 2,038 Worker remit. & comp. of employees 0 1 5 85 88 96 127 135 113 126 Imports of goods & services (MGS) .. 1,112 1,354 2,357 2,489 2,342 2,443 2,312 2,380 2,349 International reserves (RES) 46 553 511 1,359 1,219 1,249 1,184 1,146 893 1,097 Current account balance .. -6 -199 -554 -666 -488 -446 -274 -352 36 4. DEBT INDICATORS EDT / XGS (%) .. 258.4 428.6 331.4 363.1 360.2 338.1 268.3 287.3 278.9 EDT / GNI (%) 46.8 97.1 92.4 67.7 67.4 68.6 70.8 60.1 65.9 75.1 TDS / XGS (%) .. 35.0 38.6 30.1 28.0 27.1 37.1 31.1 27.5 20.9 INT / XGS (%) .. 21.1 14.4 13.4 10.7 8.4 10.5 10.5 6.6 6.3 INT / GNI (%) 0.6 7.9 3.1 2.7 2.0 1.6 2.2 2.4 1.5 1.7 RES / EDT (%) 7.9 20.5 12.0 26.0 21.7 22.5 20.5 24.4 17.8 19.3 RES / MGS (months) .. 6.0 4.5 6.9 5.9 6.4 5.8 5.9 4.5 5.6 Short-term / EDT (%) 15.5 11.2 3.6 8.2 7.4 7.4 7.0 8.1 7.4 2.0 Concessional / EDT (%) 45.0 24.6 44.2 56.7 57.3 57.5 53.9 47.8 52.7 58.2 Multilateral / EDT (%) 4.4 16.5 37.2 51.2 47.9 50.0 48.5 62.4 65.7 70.8 89 BOLIVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 491 2,274 3,864 4,559 4,938 4,889 5,162 4,105 4,438 5,289 Public and publicly guaranteed 480 2,182 3,687 4,133 4,296 4,246 4,136 3,126 3,515 4,258 Official creditors 275 1,110 3,362 4,100 4,258 4,221 4,103 3,105 3,491 4,234 Multilateral 26 447 1,589 2,680 2,690 2,777 2,803 2,925 3,286 4,026 Concessional 26 178 882 1,688 1,794 1,909 1,968 2,082 2,444 3,105 Bilateral 249 663 1,773 1,420 1,568 1,444 1,300 180 205 208 Concessional 239 487 1,006 1,279 1,422 1,281 1,150 162 193 203 Private creditors 205 1,072 325 33 37 25 33 20 24 25 Bonds 67 73 35 9 9 0 0 0 0 0 Commercial banks 2 603 4 1 4 4 3 0 0 0 Other private 136 395 286 23 24 21 30 20 24 25 Private nonguaranteed 11 92 177 426 643 643 1,026 979 923 1,031 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 11 92 177 426 643 643 1,026 979 923 1,031 Memo: IBRD 0 175 194 37 26 13 0 0 0 0 IDA 18 64 393 930 1,045 1,097 1,096 1,146 1,321 1,571 DISBURSEMENTS 58 457 300 643 446 419 743 547 618 941 Public and publicly guaranteed 55 441 300 374 315 291 275 374 499 717 Official creditors 45 198 291 365 309 288 262 370 495 716 Multilateral 2 108 204 351 251 255 237 324 460 696 Concessional 2 28 90 227 194 168 150 191 300 502 Bilateral 43 91 86 14 58 34 25 46 36 20 Concessional 33 31 85 14 54 22 21 41 34 20 Private creditors 10 242 9 8 7 3 13 3 3 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 55 0 0 4 0 0 0 0 0 Other private 10 187 9 8 2 3 13 3 3 1 Private nonguaranteed 3 16 0 269 131 127 468 173 119 224 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 16 0 269 131 127 468 173 119 224 Memo: IBRD 0 73 0 0 0 0 0 0 0 0 IDA 2 2 49 136 88 82 61 102 104 143 PRINCIPAL REPAYMENTS 19 145 196 229 233 265 434 340 346 279 Public and publicly guaranteed 17 126 172 168 206 139 153 143 149 184 Official creditors 9 43 163 162 203 135 149 140 148 182 Multilateral 2 7 117 151 190 111 118 117 130 163 Concessional 2 0 14 26 23 18 21 15 14 24 Bilateral 7 36 46 10 14 24 32 24 17 19 Concessional 5 15 9 4 9 17 22 18 11 11 Private creditors 8 84 9 6 3 3 4 2 1 1 Bonds 0 1 0 3 0 0 0 0 0 0 Commercial banks 1 49 2 2 1 1 1 0 0 0 Other private 7 33 8 2 2 2 3 2 1 1 Private nonguaranteed 2 19 24 61 27 127 281 197 198 95 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 19 24 61 27 127 281 197 198 95 Memo: IBRD 0 3 21 19 13 13 12 0 0 0 IDA 0 0 2 4 3 0 0 1 7 6 NET FLOWS ON DEBT 39 312 104 414 213 153 309 207 272 663 Public and publicly guaranteed 38 315 128 206 109 153 122 231 350 533 Official creditors 36 156 128 204 105 153 113 230 348 534 Multilateral 0 101 87 200 61 143 119 207 329 533 Concessional 0 28 77 202 171 150 129 176 286 479 Bilateral 36 55 41 4 44 10 -7 23 18 1 Concessional 28 16 76 10 45 5 -1 23 23 9 Private creditors 2 159 0 2 4 -1 9 1 2 -1 Bonds 0 -1 0 -3 0 0 0 0 0 0 Commercial banks -1 6 -2 -2 4 0 -1 0 0 0 Other private 3 154 1 7 0 0 10 2 2 -1 Private nonguaranteed 1 -3 -24 208 104 1 187 -24 -78 129 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 -3 -24 208 104 1 187 -24 -78 129 Memo: IBRD 0 70 -21 -19 -13 -13 -12 0 0 0 IDA 2 1 47 132 85 82 61 101 96 136 90 BOLIVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 7 173 117 189 143 108 159 168 100 122 Public and publicly guaranteed 7 164 103 150 137 103 112 99 68 85 Official creditors 4 43 101 148 135 102 111 97 68 85 Multilateral 1 21 69 100 91 78 82 72 61 81 Concessional 1 2 10 20 20 14 15 10 12 32 Bilateral 3 21 32 49 44 24 29 25 6 4 Concessional 2 11 6 41 37 20 23 22 5 3 Private creditors 3 121 2 1 1 1 1 1 0 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 0 0 Private nonguaranteed 1 9 14 40 6 5 47 69 32 36 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 9 14 40 6 5 47 69 32 36 Memo: IBRD 0 10 15 4 3 2 1 0 0 0 IDA 0 0 3 6 6 0 1 1 7 8 NET TRANSFERS ON DEBT 32 138 -13 225 71 45 150 39 172 541 Public and publicly guaranteed 31 151 25 56 -27 50 10 132 282 448 Official creditors 32 113 27 55 -30 52 2 132 280 450 Multilateral 0 79 18 100 -30 66 38 135 268 452 Concessional 0 25 66 182 150 136 114 166 274 447 Bilateral 33 34 9 -45 0 -14 -35 -3 12 -2 Concessional 26 6 71 -31 8 -15 -24 1 18 7 Private creditors -1 38 -3 1 3 -2 8 0 2 -1 Bonds -1 -4 0 -3 0 0 0 0 0 0 Commercial banks -1 -90 -2 -2 4 -1 -1 -1 0 0 Other private 1 132 0 6 -1 -1 9 1 2 -1 Private nonguaranteed 0 -12 -38 168 98 -4 140 -93 -110 93 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 -12 -38 168 98 -4 140 -93 -110 93 Memo: IBRD 0 60 -36 -24 -15 -15 -13 0 0 0 IDA 2 1 45 126 79 82 60 100 89 128 DEBT SERVICE (LTDS) 26 318 313 418 376 373 593 507 446 400 Public and publicly guaranteed 23 290 275 317 343 242 265 241 217 269 Official creditors 13 85 263 310 339 237 260 238 215 267 Multilateral 3 28 186 251 281 189 200 189 192 245 Concessional 3 3 24 46 43 32 36 25 26 56 Bilateral 10 57 77 59 58 48 60 49 24 22 Concessional 7 25 14 45 46 36 46 40 16 13 Private creditors 11 205 12 7 4 5 5 3 1 2 Bonds 1 4 0 3 0 0 0 0 0 0 Commercial banks 1 145 2 2 1 1 1 1 0 0 Other private 8 56 10 3 3 4 4 3 1 2 Private nonguaranteed 3 28 38 101 33 132 328 266 229 132 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 28 38 101 33 132 328 266 229 132 Memo: IBRD 0 13 36 24 15 15 13 0 0 0 IDA 0 1 4 10 9 0 1 2 15 14 UNDISBURSED DEBT 72 954 1,123 1,099 1,277 1,217 1,078 1,148 1,240 1,189 Official creditors 66 804 1,107 1,087 1,247 1,193 1,067 1,137 1,230 1,179 Private creditors 6 150 16 11 30 24 11 10 9 10 Memorandum items Concessional LDOD 265 665 1,888 2,967 3,215 3,190 3,118 2,244 2,636 3,308 Variable rate LDOD 11 719 918 888 1,079 1,048 1,438 1,346 1,461 1,859 Public sector LDOD 467 2,166 3,687 4,133 4,296 3,839 3,759 3,083 3,470 4,222 Private sector LDOD 24 107 177 426 643 1,050 1,403 1,022 969 1,067 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 0.7 1.0 0.8 Deutsche mark 2.3 6.8 7.0 8.6 9.1 7.9 7.2 .. .. .. French franc 0.1 0.8 2.2 1.3 1.4 0.8 0.7 .. .. .. Japanese yen 0.0 1.7 10.0 11.3 12.2 13.5 12.3 0.0 0.0 0.0 Pound sterling 0.0 2.0 0.9 0.5 0.4 0.2 0.2 0.0 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 37.1 39.0 42.2 45.0 61.0 65.9 71.4 Multiple currency 11.7 18.1 29.4 34.8 31.3 30.7 29.9 37.2 32.2 26.8 Special drawing rights 0.0 0.0 0.0 0.1 0.2 0.3 0.4 0.6 0.6 0.7 All other currencies 0.0 5.3 8.6 6.3 6.5 4.4 4.3 0.4 0.4 0.3 91 BOLIVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 153 301 0 550 0 0 3 0 Debt stock rescheduled .. .. 0 0 0 532 0 0 0 0 Principal rescheduled .. .. 81 300 0 3 0 0 0 0 Official .. .. 69 300 0 3 0 0 0 0 Private .. .. 12 0 0 0 0 0 0 0 Interest rescheduled .. .. 63 0 0 0 0 0 0 0 Official .. .. 59 0 0 0 0 0 0 0 Private .. .. 3 0 0 0 0 0 0 0 Debt forgiven .. .. 92 83 18 34 28 99 41 34 Memo: interest forgiven .. .. 60 12 1 8 8 18 13 12 Debt stock reduction .. .. 20 0 94 102 18 1,050 61 0 of which debt buyback .. .. 4 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 143 42 379 -67 236 -1,093 312 680 Net flows on debt 39 180 32 480 208 154 293 191 245 480 Net change in interest arrears .. .. -44 -22 0 0 0 -2 0 0 Interest capitalized .. .. 63 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -109 -83 -111 -136 -46 -1,149 -102 -34 Cross-currency valuation .. .. 114 -418 -3 -41 -212 -193 113 226 Residual .. .. 86 84 286 -43 202 61 55 8 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.9 8.4 4.2 4.8 1.7 2.0 4.2 3.3 4.1 3.1 Maturity (years) 47.7 15.5 29.2 20.2 34.7 34.7 28.4 23.2 21.8 21.4 Grace period (years) 4.0 4.5 7.9 5.7 9.5 9.1 7.8 6.0 5.7 6.2 Grant element (%) 66.6 13.0 47.8 36.2 68.9 67.2 48.0 46.2 40.4 47.0 Official creditors Interest (%) 1.8 8.1 4.1 4.8 1.7 2.0 4.2 3.3 4.1 3.1 Maturity (years) 48.2 21.5 29.5 20.7 35.9 35.8 28.6 23.3 21.9 21.4 Grace period (years) 4.0 5.3 7.9 5.8 9.7 9.3 7.9 6.1 5.7 6.2 Grant element (%) 67.4 20.4 48.4 37.1 70.0 68.0 48.2 46.5 40.5 47.0 Private creditors Interest (%) 12.0 8.7 9.4 5.5 1.1 0.8 7.4 5.9 6.3 0.0 Maturity (years) 5.5 10.1 5.8 6.0 12.4 10.0 5.3 5.6 5.5 0.0 Grace period (years) 3.5 3.9 1.5 1.3 5.3 5.9 0.8 1.1 1.0 0.0 Grant element (%) -6.9 6.4 1.0 12.6 50.1 48.8 5.9 10.6 9.5 0.0 Memorandum items Commitments 24 370 549 174 479 319 180 542 625 724 Official creditors 24 176 542 168 454 306 179 537 623 724 Private creditors 0 194 7 6 25 13 1 4 2 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 332 297 201 139 88 57 34 18 11 7 Principal 389 356 450 341 335 316 312 294 278 267 Interest 183 180 161 139 123 104 89 76 64 52 Official creditors Disbursements 328 294 199 138 88 56 34 18 11 7 Principal 213 213 251 236 224 233 233 228 225 220 Interest 109 107 104 96 88 80 72 63 56 49 Bilateral creditors Disbursements 19 19 12 9 6 4 3 3 2 1 Principal 17 18 17 15 16 18 20 20 18 14 Interest 6 6 5 5 5 5 4 4 3 3 Multilateral creditors Disbursements 309 275 187 129 82 52 31 15 9 6 Principal 196 195 234 220 208 215 214 208 206 206 Interest 103 102 98 92 83 75 67 60 52 46 Private creditors Disbursements 4 3 2 1 0 0 0 0 0 0 Principal 176 143 199 105 111 83 78 66 53 47 Interest 74 73 57 43 34 24 17 13 9 4 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 4 3 2 1 0 0 0 0 0 0 Principal 176 143 199 105 111 83 78 66 53 47 Interest 74 73 57 43 34 24 17 13 9 4 92 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. .. .. 2,707 2,443 2,283 2,853 2,920 Long-term debt (LDOD) .. .. .. .. .. 2,574 2,289 2,112 2,366 2,674 Public and publicly guaranteed .. .. .. .. .. 2,571 2,283 2,101 2,345 2,629 Private nonguaranteed .. .. .. .. .. 3 7 11 21 44 Use of IMF credit .. .. .. 41 77 94 105 111 139 134 Short-term debt .. .. .. 57 119 40 49 60 349 113 of which interest arrears on LDOD .. .. .. .. .. 2 1 0 2 0 Official creditors .. .. .. .. .. 2 1 0 2 0 Private creditors .. .. .. .. .. 0 0 0 0 0 Memo: principal arrears on LDOD .. .. .. .. .. 30 2 0 0 0 Official creditors .. .. .. .. .. 4 2 0 0 0 Private creditors .. .. .. .. .. 26 0 0 0 0 Memo: export credits .. .. .. 234 128 177 163 246 333 381 TOTAL DEBT FLOWS Disbursements .. .. .. .. .. 160 136 112 195 188 Long-term debt .. .. .. .. .. 120 100 94 154 154 IMF purchases .. .. .. 0 33 40 36 18 41 34 Principal repayments .. .. .. .. .. 25 191 207 101 121 Long-term debt .. .. .. .. .. 4 171 200 78 71 IMF repurchases .. .. .. 1 0 21 20 8 23 51 Net flows on debt .. .. .. .. .. 91 -44 -84 382 -168 of which short-term debt .. .. .. .. .. -44 11 12 287 -234 Interest payments (INT) .. .. .. .. .. 166 134 92 64 61 Long-term debt .. .. .. .. .. 160 126 85 58 55 IMF charges .. .. .. 2 3 3 5 5 3 2 Short-term debt .. .. .. .. .. 3 3 3 3 4 Net transfers on debt .. .. .. .. .. -75 -178 -177 318 -229 Total debt service paid (TDS) .. .. .. .. .. 191 325 300 164 183 Long-term debt .. .. .. .. .. 163 297 284 136 126 IMF repurchases and charges .. .. .. 3 3 24 25 13 26 53 Short-term debt (interest only) .. .. .. .. .. 3 3 3 3 4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. .. .. 1,115 645 444 669 782 Net flow of long-term debt (ex. IMF) .. .. .. .. .. 116 -71 -106 76 84 Foreign direct investment (net) .. .. .. .. .. 177 146 118 268 382 Portfolio equity flows .. .. .. .. .. 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 701 499 822 570 431 325 317 Memo: technical coop. grants .. .. .. 86 243 105 103 123 123 152 official net resource flows .. .. .. .. .. 938 496 322 395 382 private net resource flows .. .. .. .. .. 177 150 122 274 400 NET TRANSFERS .. .. .. .. .. 955 520 357 606 717 Interest on long-term debt .. .. .. .. .. 160 126 85 58 55 Profit remittances on FDI .. .. .. .. .. 0 0 2 5 10 Memo: official net transfers .. .. .. .. .. 802 409 258 351 340 private net transfers .. .. .. .. .. 153 110 99 255 376 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 3,299 4,626 4,964 4,774 5,264 5,847 7,303 Exports of goods, serv. & inc. (XGS) .. .. .. .. 2,618 2,666 2,726 2,646 2,676 3,280 Worker remit. & comp. of employees .. .. .. 0 1,542 1,386 1,147 1,072 1,049 1,178 Imports of goods & services (MGS) .. .. .. .. 4,094 4,472 4,220 4,375 4,825 5,852 International reserves (RES) .. .. .. 80 175 452 497 1,221 1,321 1,796 Current account balance .. .. .. .. -813 -1,122 -1,032 -1,217 -1,694 -2,038 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. .. 101.5 89.6 86.3 106.6 89.0 EDT / GNI (%) .. .. .. .. .. 54.5 51.2 43.4 48.8 40.0 TDS / XGS (%) .. .. .. .. .. 7.2 11.9 11.3 6.1 5.6 INT / XGS (%) .. .. .. .. .. 6.2 4.9 3.5 2.4 1.9 INT / GNI (%) .. .. .. .. .. 3.3 2.8 1.8 1.1 0.8 RES / EDT (%) .. .. .. .. .. 16.7 20.3 53.5 46.3 61.5 RES / MGS (months) .. .. .. .. .. 1.2 1.4 3.3 3.3 3.7 Short-term / EDT (%) .. .. .. .. .. 1.5 2.0 2.6 12.2 3.9 Concessional / EDT (%) .. .. .. .. .. 33.3 37.6 41.2 40.0 45.3 Multilateral / EDT (%) .. .. .. .. .. 52.1 51.8 48.9 44.2 48.9 93 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. .. .. 2,574 2,289 2,112 2,366 2,674 Public and publicly guaranteed .. .. .. .. .. 2,571 2,283 2,101 2,345 2,629 Official creditors .. .. .. .. .. 2,000 1,825 1,650 1,871 2,127 Multilateral .. .. .. .. .. 1,410 1,266 1,116 1,261 1,428 Concessional .. .. .. .. .. 419 460 502 644 758 Bilateral .. .. .. .. .. 590 559 534 610 699 Concessional .. .. .. .. .. 481 458 438 498 566 Private creditors .. .. .. .. .. 570 458 451 473 502 Bonds .. .. .. .. .. 333 333 333 333 333 Commercial banks .. .. .. .. .. 135 125 118 140 169 Other private .. .. .. .. .. 103 0 0 0 0 Private nonguaranteed .. .. .. .. .. 3 7 11 21 44 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks and other .. .. .. .. .. 3 7 11 21 44 Memo: IBRD .. .. .. 566 581 578 562 540 538 540 IDA .. .. .. 167 312 373 398 443 578 683 DISBURSEMENTS .. .. .. .. .. 120 100 94 154 154 Public and publicly guaranteed .. .. .. .. .. 120 95 81 136 113 Official creditors .. .. .. .. .. 120 95 81 136 113 Multilateral .. .. .. .. .. 118 90 80 108 90 Concessional .. .. .. .. .. 105 62 62 98 49 Bilateral .. .. .. .. .. 2 5 1 27 23 Concessional .. .. .. .. .. 2 5 1 15 23 Private creditors .. .. .. .. .. 0 0 0 0 0 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 0 0 Other private .. .. .. .. .. 0 0 0 0 0 Private nonguaranteed .. .. .. .. .. 0 5 13 19 41 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks and other .. .. .. .. .. 0 5 13 19 41 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 65 135 68 44 62 97 48 PRINCIPAL REPAYMENTS .. .. .. .. .. 4 171 200 78 71 Public and publicly guaranteed .. .. .. .. .. 4 170 191 65 47 Official creditors .. .. .. .. .. 4 170 191 65 47 Multilateral .. .. .. .. .. 4 166 186 39 34 Concessional .. .. .. .. .. 0 0 1 2 2 Bilateral .. .. .. .. .. 0 4 5 26 13 Concessional .. .. .. .. .. 0 4 5 13 11 Private creditors .. .. .. .. .. 0 0 0 0 0 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 0 0 Other private .. .. .. .. .. 0 0 0 0 0 Private nonguaranteed .. .. .. .. .. 0 1 9 13 23 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks and other .. .. .. .. .. 0 1 9 13 23 Memo: IBRD .. .. .. 0 0 0 0 5 23 24 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. .. .. 116 -71 -106 76 84 Public and publicly guaranteed .. .. .. .. .. 116 -75 -109 70 65 Official creditors .. .. .. .. .. 116 -75 -109 70 65 Multilateral .. .. .. .. .. 114 -76 -106 69 55 Concessional .. .. .. .. .. 104 62 60 96 47 Bilateral .. .. .. .. .. 2 1 -3 1 10 Concessional .. .. .. .. .. 2 1 -3 2 12 Private creditors .. .. .. .. .. 0 0 0 0 0 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks .. .. .. .. .. 0 0 0 0 0 Other private .. .. .. .. .. 0 0 0 0 0 Private nonguaranteed .. .. .. .. .. 0 4 4 6 18 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks and other .. .. .. .. .. 0 4 4 6 18 Memo: IBRD .. .. .. 0 0 0 0 -5 -23 -24 IDA .. .. .. 65 135 68 44 62 97 48 94 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. .. .. 160 126 85 58 55 Public and publicly guaranteed .. .. .. .. .. 159 125 84 57 53 Official creditors .. .. .. .. .. 136 86 64 44 42 Multilateral .. .. .. .. .. 131 74 53 30 28 Concessional .. .. .. .. .. 3 4 5 5 6 Bilateral .. .. .. .. .. 5 13 10 14 14 Concessional .. .. .. .. .. 2 8 7 9 8 Private creditors .. .. .. .. .. 23 39 20 13 12 Bonds .. .. .. .. .. 20 37 18 9 7 Commercial banks .. .. .. .. .. 3 2 2 4 5 Other private .. .. .. .. .. 0 0 0 0 0 Private nonguaranteed .. .. .. .. .. 0 0 1 1 2 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks and other .. .. .. .. .. 0 0 1 1 2 Memo: IBRD .. .. .. 36 35 34 33 31 22 17 IDA .. .. .. 1 1 2 3 3 4 5 NET TRANSFERS ON DEBT .. .. .. .. .. -43 -197 -190 18 28 Public and publicly guaranteed .. .. .. .. .. -43 -200 -193 13 12 Official creditors .. .. .. .. .. -20 -161 -173 26 24 Multilateral .. .. .. .. .. -17 -150 -160 39 28 Concessional .. .. .. .. .. 101 58 56 91 41 Bilateral .. .. .. .. .. -3 -11 -13 -13 -4 Concessional .. .. .. .. .. 0 -7 -10 -7 4 Private creditors .. .. .. .. .. -23 -39 -20 -13 -12 Bonds .. .. .. .. .. -20 -37 -18 -9 -7 Commercial banks .. .. .. .. .. -3 -2 -2 -4 -5 Other private .. .. .. .. .. 0 0 0 0 0 Private nonguaranteed .. .. .. .. .. 0 3 3 5 16 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks and other .. .. .. .. .. 0 3 3 5 16 Memo: IBRD .. .. .. -36 -35 -34 -33 -36 -45 -41 IDA .. .. .. 64 133 66 41 59 93 44 DEBT SERVICE (LTDS) .. .. .. .. .. 163 297 284 136 126 Public and publicly guaranteed .. .. .. .. .. 163 295 274 123 101 Official creditors .. .. .. .. .. 140 256 254 109 89 Multilateral .. .. .. .. .. 135 240 240 69 62 Concessional .. .. .. .. .. 3 4 6 7 8 Bilateral .. .. .. .. .. 5 16 15 40 27 Concessional .. .. .. .. .. 2 12 12 22 20 Private creditors .. .. .. .. .. 23 39 20 13 12 Bonds .. .. .. .. .. 20 37 18 9 7 Commercial banks .. .. .. .. .. 3 2 2 4 5 Other private .. .. .. .. .. 0 0 0 0 0 Private nonguaranteed .. .. .. .. .. 0 1 10 13 25 Bonds .. .. .. .. .. 0 0 0 0 0 Commercial banks and other .. .. .. .. .. 0 1 10 13 25 Memo: IBRD .. .. .. 36 35 34 33 36 45 41 IDA .. .. .. 1 1 2 3 3 4 5 UNDISBURSED DEBT .. .. .. .. .. 382 422 518 542 472 Official creditors .. .. .. .. .. 382 422 518 542 472 Private creditors .. .. .. .. .. 0 0 0 0 0 Memorandum items Concessional LDOD .. .. .. .. .. 901 918 940 1,143 1,324 Variable rate LDOD .. .. .. .. .. 1,180 1,068 1,060 1,094 1,198 Public sector LDOD .. .. .. .. .. 2,571 2,283 2,101 2,345 2,629 Private sector LDOD .. .. .. .. .. 3 7 11 21 44 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 26.4 28.0 30.6 Deutsche mark .. .. .. .. .. 9.1 10.2 .. .. .. French franc .. .. .. .. .. 0.0 0.0 .. .. .. Japanese yen .. .. .. .. .. 0.0 0.0 0.0 0.1 1.0 Pound sterling .. .. .. .. .. 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. .. .. 1.4 2.0 2.0 2.0 2.0 U.S.dollars .. .. .. .. .. 36.9 38.2 44.2 45.3 44.3 Multiple currency .. .. .. .. .. 22.7 24.8 26.0 23.2 20.8 Special drawing rights .. .. .. .. .. 0.0 0.0 0.0 0.0 0.1 All other currencies .. .. .. .. .. 29.9 24.7 1.3 1.3 1.3 95 BOSNIA AND HERZEGOVINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. .. .. 613 4 0 0 0 Debt stock rescheduled .. .. .. .. .. 0 0 0 0 0 Principal rescheduled .. .. .. .. .. 468 2 0 0 0 Official .. .. .. .. .. 0 0 0 0 0 Private .. .. .. .. .. 468 2 0 0 0 Interest rescheduled .. .. .. .. .. 97 1 0 0 0 Official .. .. .. .. .. 0 0 0 0 0 Private .. .. .. .. .. 97 1 0 0 0 Debt forgiven .. .. .. .. .. 0 0 0 0 0 Memo: interest forgiven .. .. .. .. .. 0 0 0 0 0 Debt stock reduction .. .. .. .. .. 0 0 0 0 0 of which debt buyback .. .. .. .. .. 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. .. .. .. 73 -264 -160 571 67 Net flows on debt .. .. .. .. .. 91 -44 -84 382 -168 Net change in interest arrears .. .. .. .. .. -35 -1 -1 2 -2 Interest capitalized .. .. .. .. .. 97 1 0 0 0 Debt forgiveness or reduction .. .. .. .. .. 0 0 0 0 0 Cross-currency valuation .. .. .. .. .. -96 -115 -78 184 239 Residual .. .. .. .. .. 15 -105 3 4 -3 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. .. .. 1.5 3.5 2.0 0.8 1.4 Maturity (years) .. .. .. .. .. 30.7 25.6 29.5 34.6 19.4 Grace period (years) .. .. .. .. .. 9.2 7.2 8.2 9.9 10.4 Grant element (%) .. .. .. .. .. 69.0 49.1 64.0 78.3 63.8 Official creditors Interest (%) .. .. .. .. .. 1.5 3.5 2.0 0.8 1.4 Maturity (years) .. .. .. .. .. 30.7 25.6 29.5 34.6 19.4 Grace period (years) .. .. .. .. .. 9.2 7.2 8.2 9.9 10.4 Grant element (%) .. .. .. .. .. 69.0 49.1 64.0 78.3 63.8 Private creditors Interest (%) .. .. .. .. .. 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. .. .. 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. .. .. .. 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. .. .. .. 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. .. .. .. 255 151 199 105 57 Official creditors .. .. .. .. .. 255 151 199 105 57 Private creditors .. .. .. .. .. 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 140 92 72 54 42 30 17 11 7 4 Principal 95 119 128 132 129 137 135 139 135 135 Interest 57 56 54 51 49 46 43 40 36 33 Official creditors Disbursements 140 92 72 54 42 30 17 11 7 4 Principal 80 67 73 85 89 98 97 101 97 97 Interest 45 45 44 43 41 39 37 34 32 30 Bilateral creditors Disbursements 10 7 4 2 1 0 0 0 0 0 Principal 44 28 28 28 29 28 28 28 28 28 Interest 15 15 14 13 13 12 11 10 9 9 Multilateral creditors Disbursements 129 85 67 52 41 29 16 11 7 4 Principal 37 39 45 57 60 70 69 73 69 68 Interest 30 30 30 30 29 27 26 24 23 21 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 15 51 54 46 40 38 38 38 38 38 Interest 12 11 10 8 8 7 6 5 4 4 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 13 13 13 13 13 13 13 13 13 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 15 38 41 33 27 25 25 25 25 25 Interest 8 8 7 6 5 4 4 3 3 2 96 BOTSWANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 17.4 135.6 552.9 574.7 532.2 504.2 452.8 399.9 488.4 513.6 Long-term debt (LDOD) 17.4 131.6 547.1 534.7 524.7 484.5 437.8 378.9 472.4 484.6 Public and publicly guaranteed 17.4 131.6 547.1 534.7 524.7 484.5 437.8 378.9 472.4 484.6 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 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 40.0 7.4 19.7 15.0 21.0 16.0 29.0 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 1.2 1.1 1.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.9 0.1 1.2 1.1 1.0 0.0 0.0 0.0 Private creditors 0.0 0.0 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements 5.7 27.2 27.0 21.2 22.5 21.9 28.0 7.4 1.8 13.5 Long-term debt 5.7 27.2 27.0 21.2 22.5 21.9 28.0 7.4 1.8 13.5 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 74.1 53.0 52.3 52.1 39.3 44.6 38.0 Long-term debt 0.2 6.0 66.5 74.1 53.0 52.3 52.1 39.3 44.6 38.0 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 -18.9 -63.1 -18.2 -28.8 -25.9 -47.8 -11.6 of which short-term debt 0.0 -13.0 0.1 34.0 -32.6 12.3 -4.7 6.0 -5.0 13.0 Interest payments (INT) 0.4 8.2 38.8 29.1 23.2 21.5 16.6 12.9 16.2 12.4 Long-term debt 0.4 6.7 38.6 27.7 22.8 20.7 15.2 11.9 15.2 11.4 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 1.5 0.2 1.4 0.4 0.8 1.3 1.0 1.0 1.0 Net transfers on debt 5.1 0.1 -78.2 -47.9 -86.3 -39.6 -45.3 -38.7 -63.9 -24.0 Total debt service paid (TDS) 0.6 14.1 105.3 103.2 76.3 73.8 68.7 52.1 60.8 50.5 Long-term debt 0.6 12.6 105.1 101.8 75.8 73.0 67.4 51.1 59.8 49.5 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 1.4 0.4 0.8 1.3 1.0 1.0 1.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 14.9 183.5 134.9 99.3 95.8 31.5 45.3 12.7 381.2 76.6 Net flow of long-term debt (ex. IMF) 5.6 21.3 -39.5 -52.9 -30.5 -30.4 -24.1 -31.9 -42.8 -24.6 Foreign direct investment (net) 0.0 111.6 95.9 100.1 95.3 36.7 57.2 22.1 403.4 86.3 Portfolio equity flows 0.0 0.0 0.0 10.8 -14.1 -7.5 -5.9 6.0 7.1 0.0 Grants (excluding technical coop.) 9.3 50.6 78.4 41.2 45.2 32.8 18.1 16.5 13.5 14.9 Memo: technical coop. grants 2.7 47.5 59.1 41.0 31.8 27.3 18.2 17.9 38.7 27.7 official net resource flows 12.0 69.0 57.4 -6.7 19.1 -7.5 -2.9 -13.2 -27.0 -7.5 private net resource flows 2.9 114.4 77.4 105.9 76.7 39.0 48.2 25.9 408.3 84.0 NET TRANSFERS 14.4 69.2 -310.7 -597.7 -334.4 -596.2 -627.8 -342.8 -542.9 -889.4 Interest on long-term debt 0.4 6.7 38.6 27.7 22.8 20.7 15.2 11.9 15.2 11.4 Profit remittances on FDI 0.0 107.6 406.9 669.3 407.4 607.0 657.9 343.7 909.0 954.5 Memo: official net transfers 11.5 63.3 21.8 -32.0 -2.2 -26.4 -16.8 -24.5 -41.9 -18.7 private net transfers 2.9 5.9 -332.5 -565.8 -332.2 -569.8 -611.0 -318.3 -501.1 -870.7 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 101.0 1,028.0 3,684.7 5,046.1 5,051.9 4,762.4 4,899.8 5,046.7 4,695.6 7,236.3 Exports of goods, serv. & inc. (XGS) .. 747.5 2,421.1 3,652.1 2,938.6 3,419.3 3,378.6 3,013.5 3,076.5 3,778.5 Worker remit. & comp. of employees 0.0 77.0 86.0 48.0 43.0 34.0 26.0 26.0 27.0 27.0 Imports of goods & services (MGS) .. 953.5 2,508.9 3,132.0 3,008.7 3,087.5 3,050.2 2,612.9 3,118.6 3,444.2 International reserves (RES) .. 334.0 3,331.5 5,675.0 5,940.7 6,298.7 6,318.2 5,897.3 5,473.9 5,339.8 Current account balance .. -151.1 -19.3 721.4 169.7 583.5 545.2 597.7 170.2 .. 4. DEBT INDICATORS EDT / XGS (%) .. 18.1 22.8 15.7 18.1 14.7 13.4 13.3 15.9 13.6 EDT / GNI (%) 17.2 13.2 15.0 11.4 10.5 10.6 9.2 7.9 10.4 7.1 TDS / XGS (%) .. 1.9 4.3 2.8 2.6 2.2 2.0 1.7 2.0 1.3 INT / XGS (%) .. 1.1 1.6 0.8 0.8 0.6 0.5 0.4 0.5 0.3 INT / GNI (%) 0.4 0.8 1.1 0.6 0.5 0.5 0.3 0.3 0.3 0.2 RES / EDT (%) .. 246.3 602.5 987.4 1,116.3 1,249.2 1,395.5 1,474.8 1,120.7 1,039.6 RES / MGS (months) .. 4.2 15.9 21.7 23.7 24.5 24.9 27.1 21.1 18.6 Short-term / EDT (%) 0.0 2.9 1.0 7.0 1.4 3.9 3.3 5.3 3.3 5.6 Concessional / EDT (%) 64.3 43.8 32.9 52.6 58.4 59.1 64.0 66.9 60.6 60.3 Multilateral / EDT (%) 30.0 62.1 70.0 69.2 72.8 66.9 65.7 65.0 66.6 64.8 97 BOTSWANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 17.4 131.6 547.1 534.7 524.7 484.5 437.8 378.9 472.4 484.6 Public and publicly guaranteed 17.4 131.6 547.1 534.7 524.7 484.5 437.8 378.9 472.4 484.6 Official creditors 14.2 123.8 519.7 507.1 500.5 452.6 409.9 359.5 455.3 469.8 Multilateral 5.2 84.3 387.1 398.0 387.2 337.4 297.4 260.0 325.5 333.0 Concessional 5.2 31.5 109.8 204.6 205.9 187.9 180.1 168.8 166.2 173.0 Bilateral 9.0 39.5 132.7 109.2 113.3 115.2 112.5 99.5 129.8 136.8 Concessional 6.0 27.9 71.9 97.6 105.1 110.0 109.5 98.7 129.6 136.7 Private creditors 3.2 7.8 27.4 27.6 24.2 31.9 27.9 19.3 17.1 14.8 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 3.0 18.3 14.9 23.4 19.9 12.0 10.4 8.8 Other private 0.6 5.3 24.4 9.3 9.3 8.6 8.0 7.3 6.7 6.0 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 50.0 155.2 47.1 36.2 24.3 15.6 10.2 7.4 5.0 IDA 5.2 15.6 13.6 10.6 10.1 9.6 9.1 8.7 8.2 7.7 DISBURSEMENTS 5.7 27.2 27.0 21.2 22.5 21.9 28.0 7.4 1.8 13.5 Public and publicly guaranteed 5.7 27.2 27.0 21.2 22.5 21.9 28.0 7.4 1.8 13.5 Official creditors 2.8 24.4 27.0 21.2 22.5 11.2 24.3 7.4 1.8 13.5 Multilateral 1.6 15.5 20.5 19.5 17.2 5.5 7.9 4.1 0.2 5.8 Concessional 1.6 5.8 11.4 11.5 6.7 2.8 6.5 3.5 0.2 0.1 Bilateral 1.2 8.9 6.5 1.7 5.3 5.7 16.4 3.2 1.6 7.6 Concessional 1.2 2.7 3.9 1.7 5.3 5.7 16.4 3.2 1.6 7.6 Private creditors 2.9 2.8 0.0 0.0 0.0 10.7 3.8 0.0 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 10.7 3.8 0.0 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 74.1 53.0 52.3 52.1 39.3 44.6 38.0 Public and publicly guaranteed 0.2 6.0 66.5 74.1 53.0 52.3 52.1 39.3 44.6 38.0 Official creditors 0.1 6.0 48.0 69.1 48.6 51.5 45.3 37.0 42.4 35.8 Multilateral 0.0 5.7 36.6 46.6 40.7 41.3 33.2 27.5 30.3 25.4 Concessional 0.0 0.1 2.7 11.2 10.1 11.0 8.7 8.0 8.5 6.9 Bilateral 0.1 0.3 11.4 22.5 7.9 10.1 12.1 9.5 12.1 10.3 Concessional 0.0 0.0 3.4 18.8 4.4 7.3 10.2 7.7 11.7 10.3 Private creditors 0.0 0.0 18.5 5.0 4.5 0.8 6.9 2.2 2.2 2.3 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 0.0 0.2 4.5 4.4 0.1 6.2 1.6 1.6 1.6 Other private 0.0 0.0 18.3 0.5 0.0 0.7 0.6 0.6 0.6 0.7 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 5.4 19.0 16.5 12.9 11.2 7.4 4.5 3.5 3.0 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 -52.9 -30.5 -30.4 -24.1 -31.9 -42.8 -24.6 Public and publicly guaranteed 5.6 21.3 -39.5 -52.9 -30.5 -30.4 -24.1 -31.9 -42.8 -24.6 Official creditors 2.7 18.5 -21.0 -47.9 -26.1 -40.3 -21.0 -29.6 -40.5 -22.3 Multilateral 1.6 9.8 -16.1 -27.1 -23.5 -35.9 -25.3 -23.4 -30.0 -19.6 Concessional 1.6 5.7 8.7 0.3 -3.5 -8.2 -2.1 -4.5 -8.3 -6.8 Bilateral 1.1 8.6 -4.9 -20.8 -2.5 -4.4 4.3 -6.3 -10.5 -2.7 Concessional 1.2 2.7 0.5 -17.1 1.0 -1.6 6.2 -4.5 -10.1 -2.7 Private creditors 2.9 2.8 -18.5 -5.0 -4.5 9.8 -3.1 -2.2 -2.2 -2.3 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 -4.5 -4.4 10.5 -2.5 -1.6 -1.6 -1.6 Other private 0.3 2.8 -18.3 -0.5 0.0 -0.7 -0.6 -0.6 -0.6 -0.7 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 4.3 -11.9 -16.5 -12.9 -11.2 -7.4 -4.5 -3.5 -3.0 IDA 1.6 0.0 -0.3 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 98 BOTSWANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.4 6.7 38.6 27.7 22.8 20.7 15.2 11.9 15.2 11.4 Public and publicly guaranteed 0.4 6.7 38.6 27.7 22.8 20.7 15.2 11.9 15.2 11.4 Official creditors 0.4 5.7 35.6 25.3 21.3 18.9 13.9 11.4 14.9 11.2 Multilateral 0.0 4.7 27.8 20.9 17.7 15.8 11.1 8.4 11.3 8.4 Concessional 0.0 0.2 2.5 4.2 3.7 3.0 2.6 2.2 2.7 2.0 Bilateral 0.4 1.0 7.8 4.5 3.6 3.2 2.9 3.0 3.6 2.8 Concessional 0.2 0.5 1.8 3.0 2.5 2.4 2.4 2.7 3.6 2.8 Private creditors 0.0 1.0 3.0 2.4 1.5 1.8 1.3 0.5 0.3 0.2 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 1.5 1.1 0.9 0.7 0.0 0.0 0.0 Other private 0.0 0.3 3.0 0.9 0.4 0.9 0.6 0.5 0.3 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 4.4 14.2 4.3 2.9 2.0 1.2 0.7 0.5 0.3 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 -80.6 -53.3 -51.2 -39.3 -43.7 -57.9 -36.0 Public and publicly guaranteed 5.1 14.6 -78.1 -80.6 -53.3 -51.2 -39.3 -43.7 -57.9 -36.0 Official creditors 2.2 12.8 -56.6 -73.2 -47.3 -59.2 -34.9 -41.0 -55.4 -33.5 Multilateral 1.6 5.1 -43.9 -48.0 -41.2 -51.6 -36.4 -31.8 -41.3 -28.1 Concessional 1.6 5.5 6.3 -3.9 -7.1 -11.2 -4.8 -6.8 -11.0 -8.8 Bilateral 0.7 7.7 -12.7 -25.2 -6.1 -7.6 1.5 -9.2 -14.1 -5.5 Concessional 1.0 2.1 -1.4 -20.1 -1.5 -4.0 3.8 -7.2 -13.6 -5.5 Private creditors 2.9 1.9 -21.5 -7.4 -6.0 8.0 -4.4 -2.7 -2.6 -2.5 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 -5.9 -5.5 9.6 -3.2 -1.6 -1.6 -1.6 Other private 0.2 2.5 -21.3 -1.4 -0.5 -1.6 -1.2 -1.1 -0.9 -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 -0.1 -26.1 -20.8 -15.8 -13.2 -8.6 -5.2 -4.0 -3.4 IDA 1.6 -0.2 -0.4 -0.6 -0.6 -0.6 -0.5 -0.5 -0.5 -0.5 DEBT SERVICE (LTDS) 0.6 12.6 105.1 101.8 75.8 73.0 67.4 51.1 59.8 49.5 Public and publicly guaranteed 0.6 12.6 105.1 101.8 75.8 73.0 67.4 51.1 59.8 49.5 Official creditors 0.6 11.7 83.6 94.4 69.8 70.4 59.2 48.4 57.2 47.0 Multilateral 0.0 10.4 64.4 67.5 58.4 57.1 44.3 35.9 41.5 33.9 Concessional 0.0 0.3 5.1 15.4 13.8 13.9 11.3 10.3 11.2 8.9 Bilateral 0.5 1.3 19.2 27.0 11.4 13.3 14.9 12.4 15.7 13.1 Concessional 0.2 0.5 5.2 21.8 6.8 9.8 12.6 10.5 15.3 13.1 Private creditors 0.1 1.0 21.5 7.4 6.0 2.6 8.2 2.7 2.6 2.5 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 5.9 5.5 1.0 7.0 1.6 1.6 1.6 Other private 0.1 0.3 21.3 1.4 0.5 1.6 1.2 1.1 0.9 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 9.7 33.1 20.8 15.8 13.2 8.6 5.2 4.0 3.4 IDA 0.0 0.2 0.4 0.6 0.6 0.6 0.5 0.5 0.5 0.5 UNDISBURSED DEBT 31.1 159.6 410.4 103.5 86.4 65.8 34.0 29.7 31.9 48.9 Official creditors 31.1 118.0 373.2 89.0 71.9 62.0 34.0 29.7 31.9 48.9 Private creditors 0.0 41.6 37.2 14.4 14.4 3.8 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD 11.2 59.4 181.7 302.2 311.0 297.9 289.6 267.4 295.8 309.7 Variable rate LDOD 0.0 0.0 73.1 76.2 66.4 62.6 49.1 30.5 39.0 33.8 Public sector LDOD 17.4 131.6 547.1 518.0 511.3 473.0 432.4 378.9 472.4 484.6 Private sector LDOD 0.0 0.0 0.0 16.7 13.4 11.6 5.4 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 8.6 6.1 6.9 Deutsche mark 0.0 0.0 0.3 3.2 2.6 2.4 1.2 .. .. .. French franc 0.0 0.0 1.7 0.6 0.6 0.5 0.5 .. .. .. Japanese yen 0.0 0.0 4.4 9.4 10.7 12.4 11.4 10.7 17.4 17.9 Pound sterling 81.6 21.2 10.1 3.6 3.0 2.5 2.3 2.0 5.5 5.5 Swiss franc 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 U.S.dollars 0.0 25.7 11.9 15.2 14.5 16.3 18.0 19.8 23.8 21.7 Multiple currency 0.0 47.9 54.6 42.9 40.9 37.4 34.4 32.7 25.8 26.0 Special drawing rights 0.0 0.0 0.0 1.9 1.9 1.8 1.5 1.2 1.1 1.2 All other currencies 18.4 5.2 17.0 23.1 25.7 26.5 30.6 24.9 20.1 20.6 99 BOTSWANA (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 0.0 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 1.1 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 .. .. 3.1 -51.8 -42.6 -27.9 -51.5 -52.9 88.6 25.2 Net flows on debt 5.6 8.3 -39.4 -18.9 -63.1 -18.2 -28.8 -25.9 -47.8 -11.6 Net change in interest arrears .. .. 2.1 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 -1.1 0.0 0.0 Cross-currency valuation .. .. 21.2 -24.4 5.9 -1.8 -10.5 0.1 11.8 0.3 Residual .. .. 19.2 -8.6 14.6 -8.0 -12.2 -26.0 124.6 36.5 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.6 6.0 6.8 2.5 4.3 4.0 0.0 3.9 0.0 3.2 Maturity (years) 38.9 19.9 15.2 19.1 17.6 11.6 0.0 11.9 19.3 14.9 Grace period (years) 10.0 4.0 4.4 3.6 3.4 4.1 0.0 3.9 10.3 5.1 Grant element (%) 79.7 24.7 18.1 46.6 33.8 30.4 0.0 30.9 74.6 40.8 Official creditors Interest (%) 0.1 6.0 5.6 2.5 4.3 4.0 0.0 3.9 0.0 3.2 Maturity (years) 40.7 19.9 17.5 19.1 17.6 11.6 0.0 11.9 19.3 14.9 Grace period (years) 9.4 4.0 4.5 3.6 3.4 4.1 0.0 3.9 10.3 5.1 Grant element (%) 84.9 24.7 26.5 46.6 33.8 30.4 0.0 30.9 74.6 40.8 Private creditors Interest (%) 7.3 0.0 8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 16.9 0.0 11.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 16.3 0.0 4.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 19.6 0.0 4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 38 69 81 10 11 3 0 4 4 30 Official creditors 35 69 50 10 11 3 0 4 4 30 Private creditors 3 0 31 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 16.6 11.4 7.2 4.7 3.2 2.5 1.8 1.2 0.3 0.1 Principal 52.1 45.7 44.7 43.0 40.9 36.4 33.2 30.6 27.1 21.5 Interest 14.6 12.7 11.0 9.3 7.7 6.2 5.1 4.1 3.2 2.5 Official creditors Disbursements 16.6 11.4 7.2 4.7 3.2 2.5 1.8 1.2 0.3 0.1 Principal 49.7 43.2 42.2 40.5 38.4 35.7 32.6 30.0 26.5 21.5 Interest 13.5 11.8 10.3 8.8 7.3 6.0 4.9 4.0 3.1 2.5 Bilateral creditors Disbursements 9.6 7.8 5.4 3.9 2.7 2.2 1.8 1.2 0.3 0.1 Principal 11.6 12.0 11.5 11.7 14.0 13.7 13.8 13.4 11.9 10.1 Interest 3.5 3.4 3.2 3.0 2.8 2.5 2.2 1.8 1.5 1.2 Multilateral creditors Disbursements 6.9 3.6 1.8 0.8 0.5 0.4 0.0 0.0 0.0 0.0 Principal 38.0 31.2 30.7 28.8 24.4 21.9 18.9 16.6 14.7 11.4 Interest 10.1 8.4 7.1 5.7 4.5 3.5 2.7 2.1 1.6 1.3 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 2.5 2.5 2.5 2.5 2.5 0.7 0.6 0.6 0.5 0.0 Interest 1.1 0.9 0.7 0.5 0.4 0.2 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 1.8 1.8 1.8 1.8 1.8 0.0 0.0 0.0 0.0 0.0 Interest 0.5 0.4 0.3 0.2 0.1 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 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.5 0.0 Interest 0.6 0.5 0.4 0.4 0.3 0.2 0.2 0.1 0.0 0.0 100 BRAZIL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5,734 71,527 119,965 198,043 241,032 243,972 239,187 226,790 228,638 235,431 Long-term debt (LDOD) 5,020 57,987 94,429 163,158 206,313 205,914 206,446 190,180 184,416 187,514 Public and publicly guaranteed 3,314 41,382 87,758 87,325 98,197 92,378 93,765 93,899 97,008 94,985 Private nonguaranteed 1,706 16,605 6,671 75,833 108,116 113,536 112,682 96,280 87,408 92,529 Use of IMF credit 0 0 1,821 31 4,825 8,827 1,768 8,337 20,827 28,317 Short-term debt 714 13,540 23,716 34,854 29,894 29,231 30,973 28,273 23,395 19,600 of which interest arrears on LDOD 0 14 8,791 1,354 1,674 265 177 0 0 0 Official creditors 0 0 332 813 246 148 107 0 0 0 Private creditors 0 13 8,459 541 1,428 117 70 0 0 0 Memo: principal arrears on LDOD 3 446 3,694 2,959 1,937 2,099 1,840 0 0 0 Official creditors 0 3 789 813 384 259 599 0 0 0 Private creditors 3 443 2,905 2,146 1,552 1,841 1,240 0 0 0 Memo: export credits 0 0 23,906 20,873 10,365 9,852 9,085 8,137 8,444 8,112 TOTAL DEBT FLOWS Disbursements 1,783 11,418 4,087 43,826 66,640 46,963 41,847 45,075 40,584 45,100 Long-term debt 1,783 11,418 4,087 43,826 62,002 40,878 41,847 38,357 24,691 27,426 IMF purchases 0 0 0 0 4,639 6,085 0 6,718 15,893 17,674 Principal repayments 531 6,848 5,913 29,104 35,906 53,332 47,726 37,335 36,890 41,829 Long-term debt 456 6,848 5,148 29,071 35,885 51,355 41,033 37,335 32,244 29,382 IMF repurchases 75 0 765 33 21 1,977 6,693 0 4,646 12,447 Net flows on debt 1,252 9,463 -1,727 -1,281 6,734 -5,623 -4,048 5,217 -1,184 -525 of which short-term debt 0 4,892 99 -16,000 -24,000 746 1,831 -2,524 -4,878 -3,795 Interest payments (INT) 221 7,909 2,260 12,157 15,454 17,737 17,069 16,992 14,752 14,889 Long-term debt 221 6,384 2,029 10,771 13,953 15,969 15,239 15,502 13,520 13,616 IMF charges 0 0 231 2 1 463 336 133 467 757 Short-term debt 0 1,525 0 1,384 1,500 1,305 1,494 1,357 765 516 Net transfers on debt 1,031 1,553 -3,987 -13,438 -8,720 -23,360 -21,117 -11,775 -15,937 -15,414 Total debt service paid (TDS) 752 14,757 8,173 41,261 51,359 71,069 64,795 54,327 51,642 56,718 Long-term debt 677 13,232 7,176 39,842 49,837 67,324 56,272 52,837 45,764 42,998 IMF repurchases and charges 75 0 996 35 22 2,441 7,029 133 5,114 13,205 Short-term debt (interest only) 0 1,525 0 1,384 1,500 1,305 1,494 1,357 765 516 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 1,777 6,495 72 39,587 56,364 20,736 36,724 26,042 11,090 11,241 Net flow of long-term debt (ex. IMF) 1,327 4,571 -1,060 14,755 26,117 -10,477 814 1,022 -7,553 -1,957 Foreign direct investment (net) 421 1,911 989 19,650 31,913 28,576 32,779 22,457 16,590 10,144 Portfolio equity flows 0 0 103 5,099 -1,768 2,572 3,076 2,481 1,981 2,973 Grants (excluding technical coop.) 28 14 41 83 103 65 54 81 72 82 Memo: technical coop. grants 32 83 145 230 236 272 277 289 304 321 official net resource flows 212 840 -593 -1,103 4,943 445 -1,737 2,825 886 -2,191 private net resource flows 1,564 5,655 666 40,690 51,421 20,291 38,461 23,216 10,204 13,432 NET TRANSFERS 1,555 -844 -3,849 22,746 35,956 -383 17,247 5,534 -8,380 -8,358 Interest on long-term debt 221 6,384 2,029 10,771 13,953 15,969 15,239 15,502 13,520 13,616 Profit remittances on FDI 0 955 1,892 6,070 6,456 5,150 4,238 5,006 5,950 5,984 Memo: official net transfers 161 396 -1,867 -2,342 3,451 -1,714 -3,653 1,267 -749 -3,691 private net transfers 1,395 -1,240 -1,982 25,088 32,505 1,331 20,900 4,267 -7,630 -4,667 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 41,729 227,300 449,672 791,571 769,439 517,839 583,804 489,286 443,005 474,415 Exports of goods, serv. & inc. (XGS) .. 23,331 36,854 65,846 64,644 60,326 69,317 72,003 74,919 88,909 Worker remit. & comp. of employees 0 111 573 1,982 1,642 1,862 1,649 1,775 2,449 2,821 Imports of goods & services (MGS) .. 36,250 40,949 96,827 98,946 86,224 93,950 95,676 83,235 85,741 International reserves (RES) 1,190 6,875 9,200 51,706 43,902 35,717 33,008 35,866 37,835 49,297 Current account balance .. -12,831 -3,823 -30,491 -33,829 -25,400 -24,225 -23,215 -7,637 4,016 4. DEBT INDICATORS EDT / XGS (%) .. 306.6 325.5 300.8 372.9 404.4 345.1 315.0 305.2 264.8 EDT / GNI (%) 13.7 31.5 26.7 25.0 31.3 47.1 41.0 46.4 51.6 49.6 TDS / XGS (%) .. 63.3 22.2 62.7 79.4 117.8 93.5 75.5 68.9 63.8 INT / XGS (%) .. 33.9 6.1 18.5 23.9 29.4 24.6 23.6 19.7 16.7 INT / GNI (%) 0.5 3.5 0.5 1.5 2.0 3.4 2.9 3.5 3.3 3.1 RES / EDT (%) 20.8 9.6 7.7 26.1 18.2 14.6 13.8 15.8 16.5 20.9 RES / MGS (months) .. 2.3 2.7 6.4 5.3 5.0 4.2 4.5 5.5 6.9 Short-term / EDT (%) 12.5 18.9 19.8 17.6 12.4 12.0 12.9 12.5 10.2 8.3 Concessional / EDT (%) 22.9 2.5 2.5 2.2 1.8 1.8 0.9 1.2 1.4 1.4 Multilateral / EDT (%) 6.5 4.3 9.5 5.1 6.8 7.6 7.6 8.5 9.2 8.8 101 BRAZIL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5,020 57,987 94,429 163,158 206,313 205,914 206,446 190,180 184,416 187,514 Public and publicly guaranteed 3,314 41,382 87,758 87,325 98,197 92,378 93,765 93,899 97,008 94,985 Official creditors 1,779 7,313 29,349 22,198 27,836 28,873 29,363 28,832 31,270 29,910 Multilateral 376 3,092 11,391 10,065 16,320 18,557 18,240 19,373 21,109 20,798 Concessional 7 72 16 0 0 0 3 3 3 3 Bilateral 1,403 4,221 17,958 12,132 11,516 10,316 11,123 9,460 10,161 9,112 Concessional 1,308 1,684 3,003 4,446 4,289 4,510 2,117 2,652 3,212 3,320 Private creditors 1,535 34,069 58,409 65,127 70,361 63,505 64,401 65,067 65,738 65,074 Bonds 0 3,233 2,339 51,736 51,512 52,357 51,558 46,246 50,068 54,121 Commercial banks 748 24,329 47,461 11,181 17,271 9,863 11,875 17,144 14,609 10,501 Other private 787 6,507 8,609 2,210 1,578 1,285 968 1,676 1,061 453 Private nonguaranteed 1,706 16,605 6,671 75,833 108,116 113,536 112,682 96,280 87,408 92,529 Bonds 0 0 0 14,820 16,779 16,823 16,846 17,637 16,476 20,018 Commercial banks and other 1,706 16,605 6,671 61,013 91,338 96,713 95,836 78,643 70,932 72,511 Memo: IBRD 206 2,035 8,427 5,743 6,298 6,822 7,377 7,963 8,585 8,588 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 1,783 11,418 4,087 43,826 62,002 40,878 41,847 38,357 24,691 27,426 Public and publicly guaranteed 883 8,227 3,212 10,486 19,623 14,969 17,432 15,898 14,390 12,255 Official creditors 260 1,344 1,322 3,012 9,512 5,706 5,257 4,344 5,393 3,325 Multilateral 107 535 1,001 2,718 6,978 4,542 4,468 2,651 3,217 2,475 Concessional 0 3 0 0 0 0 3 0 0 0 Bilateral 152 810 321 293 2,533 1,164 790 1,693 2,176 850 Concessional 96 47 86 4 353 568 526 458 814 573 Private creditors 623 6,883 1,890 7,475 10,111 9,263 12,175 11,554 8,997 8,930 Bonds 0 378 200 4,262 2,934 8,520 8,450 7,870 4,772 8,000 Commercial banks 333 4,873 864 3,054 7,160 723 3,713 3,598 4,172 909 Other private 290 1,631 826 158 17 19 12 86 53 22 Private nonguaranteed 900 3,192 875 33,340 42,379 25,909 24,415 22,459 10,301 15,170 Bonds 0 0 0 5,750 3,489 1,345 2,886 2,930 2,055 5,160 Commercial banks and other 900 3,192 875 27,590 38,890 24,564 21,529 19,529 8,246 10,011 Memo: IBRD 61 343 782 1,416 1,240 1,533 1,692 1,639 1,400 1,291 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 456 6,848 5,148 29,071 35,885 51,355 41,033 37,335 32,244 29,382 Public and publicly guaranteed 256 3,878 4,140 10,763 12,177 18,282 17,226 13,230 14,880 13,821 Official creditors 76 518 1,956 4,197 4,671 5,327 7,048 1,600 4,578 5,598 Multilateral 31 164 1,518 1,335 1,265 2,596 4,308 1,114 2,153 3,593 Concessional 1 2 6 0 0 0 0 0 0 0 Bilateral 44 354 439 2,862 3,406 2,731 2,740 486 2,425 2,005 Concessional 40 96 29 302 442 422 224 122 507 398 Private creditors 180 3,360 2,183 6,566 7,506 12,956 10,178 11,630 10,301 8,224 Bonds 0 32 71 3,824 3,475 5,859 8,397 6,979 2,028 3,260 Commercial banks 137 2,430 1,616 2,127 3,278 6,812 1,547 4,379 7,444 4,462 Other private 43 898 496 614 752 284 234 271 829 502 Private nonguaranteed 200 2,970 1,008 18,308 23,708 33,072 23,806 24,105 17,364 15,561 Bonds 0 0 0 4,967 1,591 1,141 2,775 2,117 3,280 1,561 Commercial banks and other 200 2,970 1,008 13,341 22,117 31,931 21,031 21,988 14,084 14,000 Memo: IBRD 14 98 1,251 1,049 994 952 887 828 1,063 1,633 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 1,327 4,571 -1,060 14,755 26,117 -10,477 814 1,022 -7,553 -1,957 Public and publicly guaranteed 627 4,349 -927 -277 7,446 -3,314 206 2,668 -489 -1,566 Official creditors 184 826 -634 -1,186 4,841 380 -1,791 2,744 814 -2,273 Multilateral 76 371 -517 1,383 5,714 1,946 160 1,537 1,063 -1,118 Concessional 0 2 -6 0 0 0 3 0 0 0 Bilateral 108 455 -117 -2,569 -873 -1,567 -1,951 1,207 -249 -1,155 Concessional 57 -49 57 -298 -90 145 302 336 307 175 Private creditors 443 3,523 -293 908 2,606 -3,693 1,997 -76 -1,304 706 Bonds 0 346 129 438 -541 2,661 53 891 2,745 4,740 Commercial banks 196 2,444 -753 927 3,881 -6,089 2,166 -782 -3,273 -3,554 Other private 247 733 330 -456 -735 -265 -222 -185 -776 -480 Private nonguaranteed 700 222 -133 15,032 18,670 -7,163 609 -1,647 -7,063 -390 Bonds 0 0 0 783 1,898 203 111 813 -1,225 3,599 Commercial banks and other 700 222 -133 14,249 16,773 -7,367 498 -2,459 -5,838 -3,989 Memo: IBRD 47 245 -469 368 246 580 805 810 338 -342 IDA 0 0 0 0 0 0 0 0 0 0 102 BRAZIL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 221 6,384 2,029 10,771 13,953 15,969 15,239 15,502 13,520 13,616 Public and publicly guaranteed 132 4,253 1,569 5,211 5,135 6,634 6,887 6,931 6,674 6,516 Official creditors 51 444 1,273 1,240 1,492 2,159 1,916 1,558 1,636 1,500 Multilateral 21 255 966 689 738 1,550 1,400 1,385 1,179 1,100 Concessional 0 3 1 0 0 0 0 0 0 0 Bilateral 30 189 307 551 755 609 516 173 456 400 Concessional 28 47 13 42 186 189 81 61 92 96 Private creditors 81 3,809 296 3,971 3,642 4,475 4,971 5,373 5,038 5,016 Bonds 0 234 14 3,168 2,467 3,395 4,173 4,170 3,689 3,913 Commercial banks 45 3,128 46 687 977 1,015 759 1,187 1,316 1,093 Other private 36 446 236 116 198 65 39 15 34 10 Private nonguaranteed 89 2,132 460 5,560 8,818 9,335 8,352 8,571 6,846 7,099 Bonds 0 0 0 1,323 1,399 1,503 1,562 1,632 1,707 1,921 Commercial banks and other 89 2,132 460 4,237 7,419 7,832 6,790 6,939 5,139 5,179 Memo: IBRD 11 177 725 380 378 428 464 533 459 377 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 1,106 -1,814 -3,089 3,984 12,164 -26,446 -14,424 -14,480 -21,073 -15,572 Public and publicly guaranteed 495 96 -2,497 -5,488 2,312 -9,947 -6,681 -4,263 -7,164 -8,083 Official creditors 132 382 -1,907 -2,425 3,349 -1,779 -3,707 1,186 -821 -3,773 Multilateral 55 116 -1,483 694 4,976 397 -1,240 153 -116 -2,217 Concessional -1 -1 -6 0 0 0 3 0 0 0 Bilateral 78 266 -425 -3,120 -1,628 -2,176 -2,467 1,034 -705 -1,555 Concessional 29 -96 44 -340 -276 -44 221 275 215 79 Private creditors 363 -286 -589 -3,063 -1,037 -8,168 -2,974 -5,449 -6,342 -4,310 Bonds 0 112 115 -2,730 -3,008 -734 -4,120 -3,279 -944 827 Commercial banks 151 -684 -799 240 2,904 -7,104 1,407 -1,969 -4,589 -4,646 Other private 212 287 94 -572 -933 -330 -261 -201 -809 -491 Private nonguaranteed 611 -1,910 -593 9,472 9,853 -16,499 -7,743 -10,217 -13,909 -7,489 Bonds 0 0 0 -540 499 -1,300 -1,451 -819 -2,932 1,678 Commercial banks and other 611 -1,910 -593 10,012 9,354 -15,199 -6,292 -9,398 -10,977 -9,168 Memo: IBRD 36 68 -1,193 -12 -133 152 341 277 -121 -719 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 677 13,232 7,176 39,842 49,837 67,324 56,272 52,837 45,764 42,998 Public and publicly guaranteed 388 8,131 5,709 15,974 17,311 24,916 24,114 20,161 21,554 20,338 Official creditors 127 962 3,230 5,437 6,163 7,485 8,964 3,158 6,214 7,098 Multilateral 53 419 2,484 2,024 2,002 4,145 5,708 2,499 3,333 4,692 Concessional 1 4 6 0 0 0 0 0 0 0 Bilateral 75 544 746 3,413 4,161 3,340 3,257 659 2,882 2,405 Concessional 68 143 42 344 629 611 305 183 599 494 Private creditors 261 7,169 2,479 10,537 11,148 17,431 15,149 17,003 15,340 13,240 Bonds 0 266 85 6,993 5,943 9,255 12,570 11,149 5,717 7,173 Commercial banks 182 5,558 1,663 2,814 4,255 7,827 2,306 5,567 8,760 5,555 Other private 79 1,345 732 730 950 349 273 287 863 512 Private nonguaranteed 289 5,102 1,468 23,868 32,526 42,408 32,158 32,676 24,210 22,660 Bonds 0 0 0 6,290 2,990 2,645 4,337 3,749 4,987 3,481 Commercial banks and other 289 5,102 1,468 17,578 29,536 39,763 27,821 28,927 19,223 19,179 Memo: IBRD 25 275 1,975 1,428 1,373 1,380 1,351 1,362 1,522 2,010 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 1,661 14,892 15,292 29,457 45,448 46,477 38,631 22,644 17,463 23,339 Official creditors 821 6,581 7,468 14,973 29,134 30,929 20,867 14,446 13,322 12,714 Private creditors 841 8,311 7,823 14,484 16,315 15,547 17,765 8,198 4,141 10,625 Memorandum items Concessional LDOD 1,315 1,755 3,019 4,446 4,289 4,510 2,120 2,655 3,215 3,323 Variable rate LDOD 2,111 41,557 66,630 132,997 166,688 166,653 157,193 138,134 129,444 130,759 Public sector LDOD 3,206 39,303 87,187 86,694 96,085 90,369 93,317 93,573 96,075 93,514 Private sector LDOD 1,814 18,685 7,241 76,464 110,228 115,545 113,129 96,607 88,341 94,000 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 13.8 12.1 9.9 Deutsche mark 7.3 8.1 8.9 5.1 3.3 2.6 3.8 .. .. .. French franc 0.2 2.5 6.6 4.2 3.1 2.3 2.0 .. .. .. Japanese yen 0.0 8.5 7.4 7.3 5.9 7.3 7.6 8.8 8.7 7.0 Pound sterling 7.6 2.5 1.8 2.3 1.7 1.2 1.1 0.9 0.6 0.5 Swiss franc 2.2 1.3 1.0 0.3 0.2 0.2 0.3 0.3 0.2 0.2 U.S.dollars 72.1 67.8 60.3 68.8 74.6 73.0 71.2 70.6 73.2 77.4 Multiple currency 9.6 7.2 12.7 9.7 7.7 7.6 6.5 5.5 5.0 4.8 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 1.1 2.1 1.3 2.3 3.4 5.8 7.4 0.1 0.1 0.1 103 BRAZIL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 1,316 288 148 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 16 0 0 Principal rescheduled .. .. 1,064 0 0 0 0 1,047 0 0 Official .. .. 212 0 0 0 0 40 0 0 Private .. .. 852 0 0 0 0 1,007 0 0 Interest rescheduled .. .. 274 288 148 0 0 63 0 0 Official .. .. 69 0 0 0 0 1 0 0 Private .. .. 205 288 148 0 0 61 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 .. .. 1,259 3,294 0 4,151 6,479 4,531 0 0 of which debt buyback .. .. 776 2,694 0 2,971 6,342 4,531 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 5,328 16,702 42,989 2,940 -4,784 -12,397 1,848 6,793 Net flows on debt 1,252 9,463 -1,727 -1,281 6,734 -5,623 -4,048 5,217 -1,184 -525 Net change in interest arrears .. .. 5,603 -573 320 -1,409 -88 -177 0 0 Interest capitalized .. .. 274 288 148 0 0 63 0 0 Debt forgiveness or reduction .. .. -483 -600 0 -1,181 -137 0 0 0 Cross-currency valuation .. .. 3,031 -3,392 1,868 -824 -2,442 -1,945 4,738 6,196 Residual .. .. -1,371 6,756 15,199 11,976 1,930 -15,555 -1,705 1,121 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.0 11.9 8.2 7.5 7.2 8.8 8.3 6.6 7.7 7.4 Maturity (years) 14.0 11.6 11.8 14.6 4.9 7.8 13.1 10.0 12.6 10.5 Grace period (years) 3.4 3.9 3.7 8.0 2.4 4.7 9.5 5.2 6.4 8.7 Grant element (%) 17.2 -8.4 8.9 12.2 6.5 3.4 3.3 14.4 14.6 12.1 Official creditors Interest (%) 5.7 9.2 7.4 5.4 6.0 6.2 5.7 4.8 3.9 2.2 Maturity (years) 24.8 14.3 15.2 17.2 4.7 10.1 8.6 11.2 18.3 11.5 Grace period (years) 5.9 3.9 4.1 3.9 1.2 3.6 1.2 2.2 5.0 4.7 Grant element (%) 29.3 6.0 14.9 25.3 8.1 16.4 13.8 23.1 37.7 39.4 Private creditors Interest (%) 7.5 12.7 9.0 8.8 9.7 10.8 9.8 7.8 10.7 8.2 Maturity (years) 9.4 10.8 8.0 12.9 5.4 6.0 15.8 9.2 7.9 10.4 Grace period (years) 2.2 3.9 3.2 10.6 4.9 5.6 14.4 7.2 7.6 9.3 Grant element (%) 12.0 -12.6 2.5 4.1 3.4 -7.2 -3.0 8.5 -4.2 8.0 Memorandum items Commitments 1,441 10,657 3,012 20,439 35,042 16,678 28,217 24,358 8,708 16,207 Official creditors 433 2,396 1,562 7,805 23,205 7,454 10,601 9,940 3,918 2,098 Private creditors 1,008 8,261 1,450 12,633 11,837 9,224 17,616 14,418 4,790 14,109 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 7,206 4,408 2,158 1,250 551 301 206 107 76 44 Principal 34,384 25,751 19,031 19,142 18,208 12,493 10,417 13,196 10,410 14,490 Interest 11,486 9,909 8,601 7,642 6,362 5,395 4,587 4,147 3,229 2,532 Official creditors Disbursements 3,162 2,198 1,320 883 551 301 206 107 76 44 Principal 6,450 4,720 4,409 2,533 2,463 2,497 2,373 2,122 1,981 1,751 Interest 1,259 1,103 946 796 713 630 542 462 389 320 Bilateral creditors Disbursements 1,571 835 380 196 87 45 15 0 0 0 Principal 2,734 2,658 2,623 544 469 590 537 369 364 356 Interest 385 302 198 112 99 88 69 56 46 36 Multilateral creditors Disbursements 1,591 1,363 940 686 464 256 191 107 76 44 Principal 3,717 2,061 1,786 1,988 1,994 1,907 1,836 1,752 1,617 1,395 Interest 874 802 748 684 614 542 473 406 343 284 Private creditors Disbursements 4,044 2,209 837 367 0 0 0 0 0 0 Principal 27,934 21,032 14,623 16,609 15,745 9,996 8,044 11,075 8,429 12,739 Interest 10,228 8,806 7,654 6,846 5,648 4,765 4,045 3,685 2,840 2,212 Commercial banks Disbursements 4,017 2,204 837 367 0 0 0 0 0 0 Principal 2,421 1,598 1,038 966 3,771 470 309 253 304 2,846 Interest 915 1,013 993 964 878 648 627 625 617 462 Other private Disbursements 14 5 0 0 0 0 0 0 0 0 Principal 25,513 19,434 13,584 15,643 11,973 9,526 7,734 10,822 8,126 9,893 Interest 9,312 7,793 6,661 5,882 4,770 4,116 3,418 3,060 2,223 1,751 104 BULGARIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 10,890 11,100 11,405 11,020 11,212 10,497 11,479 13,289 Long-term debt (LDOD) .. .. 9,834 8,161 8,526 8,468 8,440 8,168 8,591 9,439 Public and publicly guaranteed .. .. 9,834 7,737 7,973 7,778 7,671 7,387 7,480 7,749 Private nonguaranteed .. .. 0 424 554 691 769 782 1,111 1,690 Use of IMF credit .. .. 0 942 1,116 1,250 1,322 1,110 1,049 1,188 Short-term debt .. .. 1,056 1,997 1,763 1,301 1,450 1,219 1,839 2,663 of which interest arrears on LDOD .. .. 226 179 179 34 0 0 0 0 Official creditors .. .. 5 10 8 0 0 0 0 0 Private creditors .. .. 221 169 170 34 0 0 0 0 Memo: principal arrears on LDOD .. .. 356 329 89 164 1 0 0 0 Official creditors .. .. 1 24 23 0 0 0 0 0 Private creditors .. .. 354 305 66 164 1 0 0 0 Memo: export credits .. .. 4,798 1,207 957 790 652 379 220 216 TOTAL DEBT FLOWS Disbursements .. .. 875 709 1,154 1,324 995 839 983 1,042 Long-term debt .. .. 875 220 843 1,038 719 706 874 896 IMF purchases .. .. 0 489 311 286 276 133 109 145 Principal repayments .. .. 865 469 769 751 712 803 1,006 669 Long-term debt .. .. 865 381 586 627 573 502 753 562 IMF repurchases .. .. 0 89 183 124 139 301 253 107 Net flows on debt .. .. -14 1,026 151 257 465 -195 598 1,008 of which short-term debt .. .. -24 787 -234 -317 183 -232 620 636 Interest payments (INT) .. .. 510 544 610 472 584 572 391 484 Long-term debt .. .. 452 456 471 355 456 457 306 395 IMF charges .. .. 0 31 45 44 63 58 31 20 Short-term debt .. .. 58 57 94 73 65 57 53 69 Net transfers on debt .. .. -523 482 -459 -215 -119 -767 207 524 Total debt service paid (TDS) .. .. 1,374 1,014 1,379 1,222 1,296 1,375 1,396 1,153 Long-term debt .. .. 1,316 837 1,057 981 1,029 959 1,059 957 IMF repurchases and charges .. .. 0 120 228 168 202 359 284 127 Short-term debt (interest only) .. .. 58 57 94 73 65 57 53 69 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 15 537 921 1,385 1,282 1,182 1,164 1,939 Net flow of long-term debt (ex. IMF) .. .. 11 -161 257 411 145 204 121 334 Foreign direct investment (net) .. .. 0 505 537 819 1,002 813 905 1,419 Portfolio equity flows .. .. 0 52 19 2 5 -9 -23 -26 Grants (excluding technical coop.) .. .. 0 141 108 153 130 174 161 211 Memo: technical coop. grants .. .. 0 44 114 93 150 104 138 182 official net resource flows .. .. 57 65 333 311 214 22 52 284 private net resource flows .. .. -42 472 588 1,074 1,067 1,160 1,112 1,655 NET TRANSFERS .. .. -437 81 394 1,052 719 577 630 1,156 Interest on long-term debt .. .. 452 456 471 355 456 457 306 395 Profit remittances on FDI .. .. 0 0 56 -22 107 149 228 388 Memo: official net transfers .. .. 43 -88 180 167 76 -113 -50 185 private net transfers .. .. -480 169 214 885 643 689 680 971 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 19,083 10,021 12,447 12,770 12,284 13,291 15,300 19,362 Exports of goods, serv. & inc. (XGS) .. .. 7,070 6,488 6,288 6,060 7,321 7,588 8,377 10,937 Worker remit. & comp. of employees .. .. 0 51 51 43 58 71 72 67 Imports of goods & services (MGS) .. .. 8,905 6,298 6,579 7,012 8,314 9,071 9,751 13,304 International reserves (RES) .. .. .. 2,485 3,057 3,265 3,507 3,646 4,846 6,826 Current account balance .. .. -1,710 427 -62 -652 -704 -984 -827 -1,676 4. DEBT INDICATORS EDT / XGS (%) .. .. 154.0 171.1 181.4 181.8 153.2 138.3 137.0 121.5 EDT / GNI (%) .. .. 57.1 110.8 91.6 86.3 91.3 79.0 75.0 68.6 TDS / XGS (%) .. .. 19.4 15.6 21.9 20.2 17.7 18.1 16.7 10.5 INT / XGS (%) .. .. 7.2 8.4 9.7 7.8 8.0 7.5 4.7 4.4 INT / GNI (%) .. .. 2.7 5.4 4.9 3.7 4.8 4.3 2.6 2.5 RES / EDT (%) .. .. .. 22.4 26.8 29.6 31.3 34.7 42.2 51.4 RES / MGS (months) .. .. .. 4.7 5.6 5.6 5.1 4.8 6.0 6.2 Short-term / EDT (%) .. .. 9.7 18.0 15.5 11.8 12.9 11.6 16.0 20.0 Concessional / EDT (%) .. .. 0.7 1.5 1.5 2.0 3.4 3.5 2.9 3.3 Multilateral / EDT (%) .. .. 2.0 9.6 12.6 13.5 13.7 14.5 15.7 17.0 105 BULGARIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 9,834 8,161 8,526 8,468 8,440 8,168 8,591 9,439 Public and publicly guaranteed .. .. 9,834 7,737 7,973 7,778 7,671 7,387 7,480 7,749 Official creditors .. .. 1,669 2,414 2,743 2,672 2,603 2,324 2,467 2,937 Multilateral .. .. 222 1,068 1,437 1,490 1,535 1,525 1,802 2,254 Concessional .. .. 0 4 5 5 6 8 32 83 Bilateral .. .. 1,447 1,347 1,306 1,182 1,068 799 666 683 Concessional .. .. 77 159 165 215 370 361 305 352 Private creditors .. .. 8,165 5,322 5,230 5,106 5,068 5,063 5,012 4,812 Bonds .. .. 327 5,072 5,020 5,034 4,982 4,979 4,898 4,659 Commercial banks .. .. 7,084 212 205 3 26 29 49 78 Other private .. .. 753 39 5 68 59 55 65 76 Private nonguaranteed .. .. 0 424 554 691 769 782 1,111 1,690 Bonds .. .. 0 0 0 0 0 0 0 58 Commercial banks and other .. .. 0 424 554 691 769 782 1,111 1,632 Memo: IBRD .. .. 0 501 697 829 824 844 958 1,266 IDA .. .. 0 0 0 0 0 0 0 0 DISBURSEMENTS .. .. 875 220 843 1,038 719 706 874 896 Public and publicly guaranteed .. .. 875 195 537 525 405 454 145 342 Official creditors .. .. 80 189 537 400 381 226 127 317 Multilateral .. .. 44 186 535 309 156 163 99 291 Concessional .. .. 0 4 1 0 1 2 22 43 Bilateral .. .. 36 2 3 91 225 63 28 26 Concessional .. .. 0 2 3 61 225 43 28 26 Private creditors .. .. 795 6 0 125 24 229 19 25 Bonds .. .. 65 0 0 53 0 224 0 0 Commercial banks .. .. 652 0 0 4 24 5 19 25 Other private .. .. 78 6 0 68 0 0 0 1 Private nonguaranteed .. .. 0 25 306 513 313 252 729 554 Bonds .. .. 0 0 0 0 0 0 0 52 Commercial banks and other .. .. 0 25 306 513 313 252 729 502 Memo: IBRD .. .. 0 101 197 221 71 88 39 185 IDA .. .. 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. 865 381 586 627 573 502 753 562 Public and publicly guaranteed .. .. 865 360 377 311 345 402 320 350 Official creditors .. .. 23 265 312 242 297 377 236 243 Multilateral .. .. 22 200 205 53 58 125 79 144 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 1 64 107 189 239 253 157 100 Concessional .. .. 0 8 7 20 50 49 17 20 Private creditors .. .. 842 95 65 69 48 25 84 106 Bonds .. .. 0 61 56 35 46 22 79 102 Commercial banks .. .. 241 28 7 33 1 1 1 1 Other private .. .. 601 5 2 1 1 1 4 4 Private nonguaranteed .. .. 0 21 209 316 229 100 433 212 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 21 209 316 229 100 433 212 Memo: IBRD .. .. 0 16 20 22 27 32 37 50 IDA .. .. 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. 11 -161 257 411 145 204 121 334 Public and publicly guaranteed .. .. 11 -164 161 213 61 52 -174 -8 Official creditors .. .. 57 -76 226 158 84 -152 -109 73 Multilateral .. .. 21 -14 330 255 99 38 20 147 Concessional .. .. 0 4 1 0 1 2 22 43 Bilateral .. .. 36 -62 -104 -97 -14 -189 -129 -74 Concessional .. .. 0 -5 -5 41 175 -6 11 6 Private creditors .. .. -46 -88 -65 55 -24 204 -65 -81 Bonds .. .. 65 -61 -56 18 -46 201 -79 -102 Commercial banks .. .. 411 -28 -7 -29 24 4 18 23 Other private .. .. -522 1 -2 66 -1 -1 -4 -3 Private nonguaranteed .. .. 0 4 96 198 85 151 296 342 Bonds .. .. 0 0 0 0 0 0 0 52 Commercial banks and other .. .. 0 4 96 198 85 151 296 290 Memo: IBRD .. .. 0 85 176 199 44 56 2 135 IDA .. .. 0 0 0 0 0 0 0 0 106 BULGARIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 452 456 471 355 456 457 306 395 Public and publicly guaranteed .. .. 452 443 459 333 424 425 263 349 Official creditors .. .. 14 153 154 144 139 135 102 100 Multilateral .. .. 13 65 64 70 80 83 75 78 Concessional .. .. 0 0 0 0 0 0 1 2 Bilateral .. .. 0 88 89 75 59 52 27 21 Concessional .. .. 0 8 7 6 10 9 7 8 Private creditors .. .. 438 290 305 189 285 290 161 249 Bonds .. .. 15 275 304 188 284 289 159 246 Commercial banks .. .. 337 14 1 0 0 1 2 2 Other private .. .. 85 0 0 0 0 0 0 0 Private nonguaranteed .. .. 0 13 13 21 32 32 43 46 Bonds .. .. 0 0 0 0 0 0 0 4 Commercial banks and other .. .. 0 13 13 21 32 32 43 42 Memo: IBRD .. .. 0 31 37 42 49 48 41 42 IDA .. .. 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. -441 -617 -214 57 -310 -253 -185 -61 Public and publicly guaranteed .. .. -441 -607 -298 -120 -363 -373 -437 -357 Official creditors .. .. 43 -229 72 14 -54 -287 -212 -26 Multilateral .. .. 8 -79 266 186 18 -45 -56 69 Concessional .. .. 0 4 1 0 1 2 21 41 Bilateral .. .. 35 -150 -194 -172 -73 -241 -156 -95 Concessional .. .. 0 -13 -12 36 165 -15 4 -2 Private creditors .. .. -484 -378 -370 -134 -309 -86 -226 -330 Bonds .. .. 49 -337 -360 -170 -331 -87 -238 -348 Commercial banks .. .. 74 -42 -8 -30 23 2 16 21 Other private .. .. -608 1 -2 66 -1 -1 -4 -3 Private nonguaranteed .. .. 0 -9 84 176 53 119 253 296 Bonds .. .. 0 0 0 0 0 0 0 48 Commercial banks and other .. .. 0 -9 84 176 53 119 253 248 Memo: IBRD .. .. 0 54 140 157 -4 8 -39 92 IDA .. .. 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. 1,316 837 1,057 981 1,029 959 1,059 957 Public and publicly guaranteed .. .. 1,316 803 835 644 768 827 582 698 Official creditors .. .. 37 418 465 386 435 512 338 343 Multilateral .. .. 36 266 269 123 138 208 154 222 Concessional .. .. 0 0 0 0 0 0 1 2 Bilateral .. .. 1 153 196 263 298 305 184 121 Concessional .. .. 0 16 14 26 60 58 24 28 Private creditors .. .. 1,280 385 370 258 333 315 244 355 Bonds .. .. 15 337 360 223 331 311 238 348 Commercial banks .. .. 578 42 8 33 1 2 3 4 Other private .. .. 686 5 2 1 1 1 4 4 Private nonguaranteed .. .. 0 34 222 337 261 132 477 259 Bonds .. .. 0 0 0 0 0 0 0 4 Commercial banks and other .. .. 0 34 222 337 261 132 477 255 Memo: IBRD .. .. 0 47 57 64 75 80 78 93 IDA .. .. 0 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. 271 880 827 800 893 737 614 660 Official creditors .. .. 25 880 817 788 780 629 516 587 Private creditors .. .. 246 0 10 12 112 108 99 73 Memorandum items Concessional LDOD .. .. 77 163 169 220 376 369 336 434 Variable rate LDOD .. .. 7,714 6,790 7,237 7,341 7,289 6,983 5,316 6,209 Public sector LDOD .. .. 9,834 7,737 7,973 7,778 7,671 7,387 7,480 7,749 Private sector LDOD .. .. 0 424 554 691 769 782 1,111 1,690 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 14.9 30.4 35.0 Deutsche mark .. .. 33.9 4.3 4.5 4.6 3.7 .. .. .. French franc .. .. 0.5 0.4 0.4 0.3 0.2 .. .. .. Japanese yen .. .. 6.6 6.3 5.6 6.0 5.5 4.6 3.9 3.7 Pound sterling .. .. 0.3 0.3 0.2 0.2 0.1 0.0 0.0 0.0 Swiss franc .. .. 7.7 1.0 0.8 0.5 0.3 0.1 0.1 0.0 U.S.dollars .. .. 42.1 74.4 78.1 78.3 80.1 79.0 64.3 60.0 Multiple currency .. .. 2.5 6.0 1.0 1.2 1.3 1.2 1.2 1.1 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 6.3 7.4 9.4 9.0 8.8 0.1 0.1 0.2 107 BULGARIA (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 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 8 2 10 1 7 5 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 0 7 0 150 1 201 0 0 of which debt buyback .. .. 0 0 0 30 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 753 731 305 -385 192 -716 982 1,810 Net flows on debt .. .. -14 1,026 151 257 465 -195 598 1,008 Net change in interest arrears .. .. 226 64 0 -145 -34 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -7 -8 -122 -12 -202 -7 -5 Cross-currency valuation .. .. 617 -316 188 -184 -215 -159 356 635 Residual .. .. -77 -36 -26 -191 -13 -159 36 -16 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 9.1 6.2 4.1 5.0 6.5 6.6 3.3 3.1 Maturity (years) .. .. 3.5 13.5 21.4 16.4 15.6 10.9 24.5 15.9 Grace period (years) .. .. 2.4 6.8 6.7 6.5 4.5 5.9 3.7 5.0 Grant element (%) .. .. 2.3 22.6 40.6 29.2 20.1 18.3 46.7 41.9 Official creditors Interest (%) .. .. 9.3 6.2 4.1 4.6 6.2 5.5 3.3 3.1 Maturity (years) .. .. 7.2 13.5 21.7 16.5 15.5 18.6 24.5 15.9 Grace period (years) .. .. 3.0 6.8 6.9 4.6 4.4 5.5 3.7 5.0 Grant element (%) .. .. 2.8 22.6 41.2 31.5 21.6 28.2 46.7 41.9 Private creditors Interest (%) .. .. 9.1 0.0 5.7 6.2 7.6 7.3 3.2 0.0 Maturity (years) .. .. 3.2 0.0 9.7 16.2 16.0 6.2 10.3 0.0 Grace period (years) .. .. 2.3 0.0 0.9 11.8 4.9 6.2 10.3 0.0 Grant element (%) .. .. 2.3 0.0 15.7 22.8 13.2 12.2 42.6 0.0 Memorandum items Commitments .. .. 563 447 432 483 700 362 146 385 Official creditors .. .. 52 447 423 355 575 138 145 385 Private creditors .. .. 511 0 9 128 125 224 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 187 136 98 70 57 40 27 18 13 7 Principal 1,106 794 808 1,109 758 620 476 452 257 1,225 Interest 524 483 445 403 341 301 260 233 207 202 Official creditors Disbursements 139 117 92 70 57 40 27 18 13 7 Principal 472 299 342 326 321 221 182 161 157 163 Interest 112 92 84 73 64 54 47 42 37 31 Bilateral creditors Disbursements 69 65 43 25 14 7 3 0 0 0 Principal 314 35 67 35 35 35 33 25 25 25 Interest 25 13 13 12 11 10 10 9 8 7 Multilateral creditors Disbursements 70 51 49 45 43 33 24 18 13 7 Principal 157 264 276 290 285 186 149 136 132 138 Interest 86 80 71 62 53 44 38 33 29 24 Private creditors Disbursements 48 19 6 0 0 0 0 0 0 0 Principal 635 494 466 783 437 399 293 291 100 1,062 Interest 412 390 361 329 277 246 212 191 171 170 Commercial banks Disbursements 48 19 6 0 0 0 0 0 0 0 Principal 3 15 15 33 13 13 6 6 6 6 Interest 6 7 7 6 5 5 4 4 3 3 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 632 479 450 750 425 386 287 285 94 1,056 Interest 406 383 354 323 272 242 208 187 167 167 108 BURKINA FASO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 21 330 834 1,332 1,495 1,622 1,457 1,540 1,630 1,845 Long-term debt (LDOD) 21 281 749 1,173 1,323 1,397 1,260 1,360 1,449 1,651 Public and publicly guaranteed 21 281 749 1,173 1,323 1,397 1,260 1,360 1,449 1,651 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 15 0 92 112 121 112 117 126 125 Short-term debt 0 35 84 66 59 103 84 63 54 68 of which interest arrears on LDOD 0 0 21 7 7 6 5 5 2 0 Official creditors 0 0 14 5 5 4 4 4 2 0 Private creditors 0 0 7 2 2 2 1 1 0 0 Memo: principal arrears on LDOD 0 0 64 33 39 39 42 42 39 42 Official creditors 0 0 34 30 35 35 38 39 38 41 Private creditors 0 0 30 3 4 3 3 3 0 0 Memo: export credits 0 0 200 86 64 61 40 35 45 26 TOTAL DEBT FLOWS Disbursements 2 70 79 95 115 133 102 164 151 131 Long-term debt 2 65 79 77 97 116 95 143 136 127 IMF purchases 1 4 0 18 18 17 7 21 14 5 Principal repayments 2 11 19 33 35 45 36 28 31 33 Long-term debt 2 11 18 31 32 40 29 21 23 30 IMF repurchases 0 0 1 2 3 5 7 7 8 3 Net flows on debt 1 56 70 78 73 133 48 116 113 114 of which short-term debt 0 -3 10 15 -7 46 -19 -20 -7 16 Interest payments (INT) 0 12 16 20 21 22 15 14 18 19 Long-term debt 0 6 10 17 17 18 14 11 16 16 IMF charges 0 0 0 0 0 1 1 1 1 1 Short-term debt 0 5 6 3 3 3 1 2 2 2 Net transfers on debt 0 45 54 57 53 112 32 102 95 95 Total debt service paid (TDS) 2 22 34 53 56 67 51 42 49 52 Long-term debt 2 17 28 48 50 58 43 32 39 46 IMF repurchases and charges 0 0 1 2 3 6 7 7 9 4 Short-term debt (interest only) 0 5 6 3 3 3 1 2 2 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 13 142 219 265 283 310 298 331 357 375 Net flow of long-term debt (ex. IMF) 0 55 60 46 65 76 66 122 113 97 Foreign direct investment (net) 0 0 0 10 4 8 23 8 9 11 Portfolio equity flows 0 0 0 0 0 0 -3 1 0 0 Grants (excluding technical coop.) 13 88 158 210 214 226 212 200 235 268 Memo: technical coop. grants 8 73 112 95 91 80 77 84 81 105 official net resource flows 13 138 219 256 279 302 278 322 348 364 private net resource flows 0 4 0 10 4 8 20 9 9 11 NET TRANSFERS 13 127 203 248 266 292 282 315 340 358 Interest on long-term debt 0 6 10 17 17 18 14 11 16 16 Profit remittances on FDI 0 9 6 0 0 0 3 5 1 1 Memo: official net transfers 13 135 209 238 262 284 264 311 333 348 private net transfers 0 -7 -6 10 4 8 17 4 8 10 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 456 1,924 3,113 2,600 2,792 2,806 2,596 2,808 3,196 4,178 Exports of goods, serv. & inc. (XGS) .. 376 506 .. .. .. 313 319 330 464 Worker remit. & comp. of employees 0 150 140 80 80 80 67 50 50 50 Imports of goods & services (MGS) .. 596 776 .. .. .. 691 690 726 990 International reserves (RES) 36 75 305 345 373 295 244 261 313 435 Current account balance .. -49 -77 .. .. .. -319 -291 -324 -449 4. DEBT INDICATORS EDT / XGS (%) .. 88.0 164.6 .. .. .. 465.3 483.1 493.4 397.3 EDT / GNI (%) 4.6 17.2 26.8 51.2 53.5 57.8 56.1 54.9 51.0 44.1 TDS / XGS (%) .. 5.9 6.8 .. .. .. 16.4 13.3 14.9 11.3 INT / XGS (%) .. 3.1 3.1 .. .. .. 4.9 4.5 5.5 4.1 INT / GNI (%) 0.1 0.6 0.5 0.8 0.7 0.8 0.6 0.5 0.6 0.5 RES / EDT (%) 174.9 22.6 36.6 25.9 25.0 18.2 16.7 16.9 19.2 23.6 RES / MGS (months) .. 1.5 4.7 .. .. .. 4.2 4.5 5.2 5.3 Short-term / EDT (%) 0.0 10.6 10.1 4.9 4.0 6.4 5.8 4.1 3.3 3.7 Concessional / EDT (%) 84.3 67.0 71.6 83.4 83.9 82.8 83.0 84.3 85.5 86.9 Multilateral / EDT (%) 0.1 42.9 67.7 75.4 76.7 73.7 70.7 70.5 77.5 79.2 109 BURKINA FASO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 21 281 749 1,173 1,323 1,397 1,260 1,360 1,449 1,651 Public and publicly guaranteed 21 281 749 1,173 1,323 1,397 1,260 1,360 1,449 1,651 Official creditors 20 261 711 1,170 1,319 1,394 1,257 1,357 1,449 1,651 Multilateral 0 142 565 1,004 1,146 1,195 1,030 1,086 1,264 1,460 Concessional 0 133 460 954 1,091 1,151 993 1,052 1,229 1,427 Bilateral 20 119 147 166 173 199 227 271 185 191 Concessional 18 89 138 157 163 192 216 247 166 175 Private creditors 0 20 38 4 4 3 3 3 0 1 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 3 3 3 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 77 282 636 710 753 593 636 745 861 DISBURSEMENTS 2 65 79 77 97 116 95 143 136 127 Public and publicly guaranteed 2 65 79 77 97 116 95 143 136 127 Official creditors 2 59 79 77 97 116 95 143 136 127 Multilateral 0 26 45 67 91 97 76 117 128 112 Concessional 0 22 34 66 91 97 75 114 125 111 Bilateral 2 33 34 9 6 19 19 26 8 15 Concessional 1 19 34 9 6 19 19 15 8 15 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 35 58 63 38 71 68 55 PRINCIPAL REPAYMENTS 2 11 18 31 32 40 29 21 23 30 Public and publicly guaranteed 2 11 18 31 32 40 29 21 23 30 Official creditors 1 8 18 31 32 40 29 21 23 30 Multilateral 0 3 13 26 28 30 20 14 17 20 Concessional 0 1 10 20 22 25 16 11 13 17 Bilateral 1 5 4 5 5 10 9 7 6 10 Concessional 1 3 3 4 5 7 8 7 6 9 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 6 6 1 2 2 3 NET FLOWS ON DEBT 0 55 60 46 65 76 66 122 113 97 Public and publicly guaranteed 0 55 60 46 65 76 66 122 113 97 Official creditors 0 51 61 46 65 76 66 122 113 97 Multilateral 0 23 32 41 64 67 56 103 111 92 Concessional 0 21 24 46 69 72 59 103 112 94 Bilateral 0 28 29 5 1 9 10 18 2 5 Concessional 0 16 31 5 1 13 11 9 2 6 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 30 52 57 36 69 65 52 110 BURKINA FASO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 6 10 17 17 18 14 11 16 16 Public and publicly guaranteed 0 6 10 17 17 18 14 11 16 16 Official creditors 0 4 10 17 17 18 14 11 16 16 Multilateral 0 2 7 12 12 13 10 7 12 12 Concessional 0 1 4 9 9 11 8 6 11 11 Bilateral 0 2 3 6 5 5 4 5 4 5 Concessional 0 1 3 5 5 5 4 4 3 5 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 5 5 5 4 2 4 5 NET TRANSFERS ON DEBT 0 48 51 29 48 58 53 111 98 80 Public and publicly guaranteed 0 48 51 29 48 58 53 111 98 80 Official creditors 0 47 51 29 48 58 53 111 98 80 Multilateral 0 21 24 29 52 54 46 97 100 80 Concessional 0 20 20 36 60 62 51 97 101 83 Bilateral 0 26 27 -1 -4 4 6 14 -2 0 Concessional 0 16 28 0 -4 8 7 4 -1 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 26 47 52 32 67 61 47 DEBT SERVICE (LTDS) 2 17 28 48 50 58 43 32 39 46 Public and publicly guaranteed 2 17 28 48 50 58 43 32 39 46 Official creditors 2 12 28 48 50 58 43 32 39 46 Multilateral 0 5 21 38 39 43 30 20 29 32 Concessional 0 3 14 30 31 35 24 17 24 28 Bilateral 2 7 7 10 10 15 13 12 10 15 Concessional 1 3 6 9 10 11 12 11 9 13 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 11 11 5 5 7 8 UNDISBURSED DEBT 10 218 540 448 542 512 442 617 694 879 Official creditors 9 214 525 435 528 512 442 617 694 869 Private creditors 1 4 15 13 14 0 0 0 0 11 Memorandum items Concessional LDOD 18 221 597 1,111 1,255 1,343 1,210 1,299 1,394 1,602 Variable rate LDOD 0 12 2 2 2 2 3 12 7 10 Public sector LDOD 21 276 749 1,173 1,323 1,397 1,260 1,360 1,449 1,651 Private sector LDOD 0 5 1 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 5.1 3.4 3.5 Deutsche mark 10.0 12.1 0.0 0.1 0.1 0.1 0.0 .. .. .. French franc 32.6 31.3 16.6 3.7 3.2 3.9 2.7 .. .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 20.2 0.7 0.5 0.0 0.0 0.0 0.1 0.1 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 28.8 39.2 62.8 62.9 63.8 60.6 61.0 60.5 60.1 Multiple currency 0.0 8.9 15.3 18.6 18.0 17.4 18.3 16.1 16.4 15.7 Special drawing rights 0.0 0.0 2.1 1.9 2.2 2.1 2.2 2.4 2.6 2.6 All other currencies 37.3 18.2 26.1 13.0 13.5 12.9 16.0 15.3 17.2 18.1 111 BURKINA FASO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 0 0 14 13 12 25 0 Debt stock rescheduled .. .. 0 0 0 0 12 0 23 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 1 0 0 0 Official .. .. 0 0 0 0 1 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 5 1 1 0 4 9 22 18 Memo: interest forgiven .. .. 0 0 0 0 5 6 3 4 Debt stock reduction .. .. 0 0 0 0 161 0 47 0 of which debt buyback .. .. 0 0 0 0 92 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 116 8 163 127 -165 84 90 214 Net flows on debt 1 56 70 78 73 133 48 116 113 114 Net change in interest arrears .. .. 6 -3 0 -2 0 0 -2 -2 Interest capitalized .. .. 0 0 0 0 1 0 0 0 Debt forgiveness or reduction .. .. -5 -1 -1 0 -73 -9 -69 -18 Cross-currency valuation .. .. 25 -146 -62 -36 -229 -56 86 97 Residual .. .. 21 81 153 31 89 33 -37 23 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.3 4.3 2.5 1.0 2.8 1.0 1.4 0.9 1.4 0.8 Maturity (years) 36.3 21.5 27.6 39.0 22.0 32.7 37.1 39.8 33.6 43.5 Grace period (years) 8.1 6.5 8.7 9.5 6.0 8.8 7.8 10.2 8.1 9.9 Grant element (%) 61.9 37.8 59.1 77.1 49.9 72.3 70.2 77.8 69.6 79.8 Official creditors Interest (%) 1.7 4.0 2.5 1.0 2.8 1.0 1.4 0.9 1.4 0.8 Maturity (years) 40.6 23.0 27.6 39.0 22.0 32.7 37.1 39.8 33.6 44.6 Grace period (years) 8.9 7.0 8.7 9.5 6.0 8.8 7.8 10.2 8.1 10.0 Grant element (%) 69.4 40.9 59.1 77.1 49.9 72.3 70.2 77.8 69.6 80.9 Private creditors Interest (%) 6.8 7.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.7 Maturity (years) 7.2 5.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17.2 Grace period (years) 2.8 1.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.7 Grant element (%) 11.3 6.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54.6 Memorandum items Commitments 9 115 90 162 129 119 53 326 166 271 Official creditors 8 104 90 162 129 119 53 326 166 260 Private creditors 1 10 0 0 0 0 0 0 0 11 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 163 194 155 116 89 59 43 24 17 8 Principal 57 59 59 62 65 68 70 73 80 85 Interest 21 22 22 22 22 21 21 20 19 18 Official creditors Disbursements 160 190 153 115 89 59 43 24 17 8 Principal 57 59 59 62 65 68 69 72 79 84 Interest 21 22 22 22 22 21 20 20 19 17 Bilateral creditors Disbursements 19 24 16 11 6 3 2 1 0 0 Principal 13 14 13 14 14 15 14 14 14 14 Interest 4 4 4 3 3 3 3 2 2 2 Multilateral creditors Disbursements 141 166 137 105 83 56 41 24 17 8 Principal 44 46 45 48 51 53 55 58 65 71 Interest 17 18 19 19 19 18 18 17 17 16 Private creditors Disbursements 4 4 2 1 0 0 0 0 0 0 Principal 0 0 0 0 0 0 1 1 1 1 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 4 4 2 1 0 0 0 0 0 0 Principal 0 0 0 0 0 0 1 1 1 1 Interest 0 0 0 0 0 0 0 0 0 0 112 BURUNDI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 15 166 907 1,065 1,119 1,131 1,103 1,070 1,204 1,310 Long-term debt (LDOD) 7 118 851 1,022 1,079 1,050 1,031 979 1,095 1,234 Public and publicly guaranteed 7 118 851 1,022 1,079 1,050 1,031 979 1,095 1,234 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 8 36 43 28 20 12 7 2 13 29 Short-term debt 0 12 13 16 20 70 65 88 96 48 of which interest arrears on LDOD 0 0 0 9 12 15 20 27 36 48 Official creditors 0 0 0 9 12 15 20 27 36 48 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 0 0 27 44 63 82 79 96 114 Official creditors 0 0 0 27 44 62 81 79 96 114 Private creditors 0 0 0 0 0 1 1 0 0 0 Memo: export credits 0 0 15 0 0 0 0 0 0 0 TOTAL DEBT FLOWS Disbursements 4 45 96 19 31 20 39 14 53 65 Long-term debt 1 39 96 19 31 20 39 14 40 52 IMF purchases 3 6 0 0 0 0 0 0 12 13 Principal repayments 1 4 28 20 21 21 14 16 17 21 Long-term debt 0 4 28 12 13 14 9 12 14 21 IMF repurchases 0 0 1 8 9 7 5 4 3 0 Net flows on debt 3 40 65 3 10 46 17 13 35 -16 of which short-term debt 0 -1 -3 4 1 47 -9 16 -1 -60 Interest payments (INT) 0 4 14 9 9 8 8 7 7 8 Long-term debt 0 2 12 9 8 6 4 5 5 7 IMF charges 0 1 0 0 0 0 0 0 0 0 Short-term debt 0 2 2 0 1 2 3 2 2 1 Net transfers on debt 3 36 51 -6 1 38 9 6 29 -24 Total debt service paid (TDS) 1 9 42 29 30 29 22 23 23 29 Long-term debt 1 6 40 21 21 20 14 17 19 28 IMF repurchases and charges 0 1 1 8 9 7 5 4 3 0 Short-term debt (interest only) 0 2 2 0 1 2 3 2 2 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 8 78 204 53 69 66 101 136 154 200 Net flow of long-term debt (ex. IMF) 1 35 68 7 18 6 30 2 26 31 Foreign direct investment (net) 0 5 1 0 0 0 12 0 0 0 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 7 39 135 46 51 60 59 134 128 169 Memo: technical coop. grants 11 45 60 19 13 21 15 11 25 31 official net resource flows 8 76 209 53 68 66 86 134 156 192 private net resource flows 0 2 -5 0 0 0 15 2 -2 8 NET TRANSFERS 8 76 189 29 51 51 85 118 140 178 Interest on long-term debt 0 2 12 9 8 6 4 5 5 7 Profit remittances on FDI 0 0 3 15 10 9 12 13 10 15 Memo: official net transfers 7 76 198 44 60 60 82 129 152 185 private net transfers 0 1 -9 -15 -9 -9 3 -12 -12 -8 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 235 922 1,117 945 870 703 663 679 614 575 Exports of goods, serv. & inc. (XGS) .. .. 98 97 72 61 55 46 38 44 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. .. 341 148 177 134 165 162 161 194 International reserves (RES) 15 105 112 118 70 53 38 18 59 67 Current account balance .. .. -69 5 -49 -22 -50 -36 -5 -25 4. DEBT INDICATORS EDT / XGS (%) .. .. 928.7 1,098.2 1,551.8 1,845.1 1,990.2 2,313.5 3,157.5 2,950.6 EDT / GNI (%) 6.4 18.0 81.2 112.8 128.7 160.9 166.2 157.6 196.1 227.7 TDS / XGS (%) .. .. 43.4 29.9 41.8 46.9 39.3 49.7 61.1 65.8 INT / XGS (%) .. .. 14.4 9.2 12.2 12.9 14.2 14.2 17.8 17.6 INT / GNI (%) 0.1 0.5 1.3 0.9 1.0 1.1 1.2 1.0 1.1 1.4 RES / EDT (%) 102.8 63.2 12.3 11.1 6.3 4.7 3.4 1.7 4.9 5.1 RES / MGS (months) .. .. 3.9 9.5 4.8 4.7 2.7 1.3 4.4 4.2 Short-term / EDT (%) 0.0 7.2 1.5 1.5 1.8 6.2 5.9 8.3 8.0 3.6 Concessional / EDT (%) 16.3 62.6 85.9 92.8 93.7 90.4 90.9 88.8 88.2 90.8 Multilateral / EDT (%) 30.2 35.7 72.7 81.9 82.3 79.4 80.3 80.0 78.7 81.1 113 BURUNDI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 7 118 851 1,022 1,079 1,050 1,031 979 1,095 1,234 Public and publicly guaranteed 7 118 851 1,022 1,079 1,050 1,031 979 1,095 1,234 Official creditors 6 110 842 1,021 1,078 1,049 1,027 973 1,091 1,222 Multilateral 5 59 660 872 921 899 885 856 948 1,063 Concessional 1 55 597 840 891 873 861 833 922 1,033 Bilateral 1 51 182 149 157 150 142 117 143 160 Concessional 1 49 182 149 157 150 142 117 139 156 Private creditors 1 8 9 1 1 1 4 5 4 11 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 4 5 4 11 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 37 398 566 603 599 600 582 648 732 DISBURSEMENTS 1 39 96 19 31 20 39 14 40 52 Public and publicly guaranteed 1 39 96 19 31 20 39 14 40 52 Official creditors 1 39 93 19 30 20 36 12 40 41 Multilateral 1 21 64 16 30 20 36 12 36 41 Concessional 0 20 60 16 30 20 36 12 36 41 Bilateral 0 18 30 3 0 0 0 0 4 0 Concessional 0 18 30 3 0 0 0 0 0 0 Private creditors 0 0 2 0 1 0 3 2 0 11 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 1 0 3 2 0 11 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 12 24 15 36 12 36 41 PRINCIPAL REPAYMENTS 0 4 28 12 13 14 9 12 14 21 Public and publicly guaranteed 0 4 28 12 13 14 9 12 14 21 Official creditors 0 1 19 12 13 14 9 12 12 18 Multilateral 0 0 11 12 12 13 9 11 12 17 Concessional 0 0 6 8 8 11 9 11 12 17 Bilateral 0 1 8 0 0 0 0 1 0 0 Concessional 0 1 8 0 0 0 0 1 0 0 Private creditors 0 3 8 0 0 0 0 0 2 4 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 0 0 0 0 0 2 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 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 4 6 8 9 10 11 14 NET FLOWS ON DEBT 1 35 68 7 18 6 30 2 26 31 Public and publicly guaranteed 1 35 68 7 18 6 30 2 26 31 Official creditors 1 38 74 7 17 6 27 0 28 23 Multilateral 1 20 52 4 18 7 27 1 25 23 Concessional 0 20 55 8 22 9 27 1 25 24 Bilateral 0 17 22 3 0 0 0 -1 4 0 Concessional 0 17 22 3 0 0 0 -1 0 0 Private creditors 0 -3 -6 0 0 0 3 2 -2 8 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 0 0 0 3 2 -2 8 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 7 18 8 28 2 25 27 114 BURUNDI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 2 12 9 8 6 4 5 5 7 Public and publicly guaranteed 0 2 12 9 8 6 4 5 5 7 Official creditors 0 1 11 9 8 6 4 5 5 7 Multilateral 0 1 9 9 7 6 4 4 5 7 Concessional 0 0 5 7 6 6 4 4 5 6 Bilateral 0 0 2 0 1 0 0 0 0 0 Concessional 0 0 2 0 1 0 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 5 4 4 4 4 4 5 NET TRANSFERS ON DEBT 1 33 56 -2 10 0 26 -3 22 24 Public and publicly guaranteed 1 33 56 -2 10 0 26 -3 22 24 Official creditors 1 37 63 -2 10 0 23 -5 24 16 Multilateral 1 20 43 -5 11 0 23 -4 20 17 Concessional 0 20 50 1 16 3 23 -3 20 18 Bilateral 0 17 20 3 -1 0 0 -1 4 0 Concessional 0 17 20 3 -1 0 0 -1 0 0 Private creditors 0 -4 -7 0 0 0 3 2 -2 8 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 0 0 0 3 2 -2 8 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 3 15 3 23 -2 21 22 DEBT SERVICE (LTDS) 1 6 40 21 21 20 14 17 19 28 Public and publicly guaranteed 1 6 40 21 21 20 14 17 19 28 Official creditors 0 2 30 21 20 20 14 16 17 24 Multilateral 0 1 20 21 19 20 14 15 16 24 Concessional 0 0 10 15 14 17 14 15 16 23 Bilateral 0 1 10 0 1 0 0 1 0 0 Concessional 0 1 10 0 1 0 0 1 0 0 Private creditors 0 4 9 0 0 0 0 0 2 4 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 0 0 0 0 0 2 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 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 9 9 12 13 14 16 19 UNDISBURSED DEBT 2 184 457 148 122 131 119 151 186 147 Official creditors 2 184 457 148 122 96 87 121 162 135 Private creditors 0 0 0 0 0 35 32 30 24 12 Memorandum items Concessional LDOD 2 104 779 989 1,048 1,023 1,003 950 1,062 1,189 Variable rate LDOD 0 0 0 0 0 0 0 0 1 1 Public sector LDOD 6 117 849 1,022 1,079 1,050 1,031 979 1,095 1,234 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 10.0 Deutsche mark 17.8 1.8 0.5 0.1 0.1 0.0 0.0 .. .. .. French franc 0.0 1.1 4.4 5.3 5.4 4.7 4.5 .. .. .. Japanese yen 0.0 0.0 2.0 2.5 2.6 3.1 2.8 2.6 2.5 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 56.4 56.9 57.9 59.4 60.8 60.4 60.9 Multiple currency 34.6 16.1 21.6 22.3 21.7 21.4 20.7 21.0 20.5 19.9 Special drawing rights 0.0 0.0 2.8 1.8 1.8 1.7 1.6 1.6 1.5 1.4 All other currencies 31.9 46.6 18.3 11.6 11.6 11.2 11.0 5.3 5.8 5.2 115 BURUNDI (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 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 16 0 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 -62 53 13 -29 -33 134 105 Net flows on debt 3 40 65 3 10 46 17 13 35 -16 Net change in interest arrears .. .. -1 3 4 3 4 8 9 11 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -105 0 0 0 0 -16 0 0 Cross-currency valuation .. .. 26 -105 -30 -37 -38 -24 61 77 Residual .. .. 33 37 70 1 -11 -14 29 33 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.9 1.3 0.9 0.0 2.0 1.5 1.8 0.8 0.8 0.0 Maturity (years) 4.7 41.8 40.1 0.0 3.1 25.7 33.7 39.6 39.8 0.0 Grace period (years) 2.2 8.9 10.3 0.0 0.2 7.0 8.8 10.1 10.3 0.0 Grant element (%) 20.3 73.5 78.7 0.0 12.2 60.8 68.0 80.4 80.6 0.0 Official creditors Interest (%) 2.3 1.3 0.9 0.0 0.0 0.8 1.8 0.8 0.8 0.0 Maturity (years) 4.8 41.8 40.1 0.0 0.0 38.3 33.7 39.6 39.8 0.0 Grace period (years) 2.5 8.9 10.3 0.0 0.0 9.2 8.8 10.1 10.3 0.0 Grant element (%) 22.5 73.5 78.7 0.0 0.0 75.9 68.0 80.4 80.6 0.0 Private creditors Interest (%) 7.6 0.0 0.0 0.0 2.0 2.0 0.0 0.0 0.0 0.0 Maturity (years) 3.6 0.0 0.0 0.0 3.1 15.3 0.0 0.0 0.0 0.0 Grace period (years) 0.1 0.0 0.0 0.0 0.2 5.3 0.0 0.0 0.0 0.0 Grant element (%) 3.8 0.0 0.0 0.0 12.2 48.3 0.0 0.0 0.0 0.0 Memorandum items Commitments 1 102 126 0 1 64 42 48 90 0 Official creditors 1 102 126 0 0 29 42 48 90 0 Private creditors 0 0 0 0 1 35 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 52 26 20 13 11 7 6 4 2 1 Principal 49 36 37 38 38 40 39 41 41 43 Interest 10 9 9 9 9 8 8 8 7 7 Official creditors Disbursements 44 23 19 13 11 7 6 4 2 1 Principal 47 34 35 36 36 38 36 39 39 41 Interest 9 9 9 9 8 8 8 7 7 7 Bilateral creditors Disbursements 6 3 2 1 0 0 0 0 0 0 Principal 16 9 8 9 8 7 5 4 4 4 Interest 2 1 1 1 1 1 1 1 0 0 Multilateral creditors Disbursements 38 20 17 12 11 7 6 4 2 1 Principal 31 25 26 27 28 31 32 34 35 37 Interest 8 8 8 8 7 7 7 7 7 6 Private creditors Disbursements 8 3 1 0 0 0 0 0 0 0 Principal 2 2 2 2 2 2 2 2 2 2 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 8 3 1 0 0 0 0 0 0 0 Principal 2 2 2 2 2 2 2 2 2 2 Interest 0 0 0 0 0 0 0 0 0 0 116 CAMBODIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 1,845 2,383 2,465 2,517 2,628 2,697 2,900 3,139 Long-term debt (LDOD) .. .. 1,683 2,193 2,261 2,293 2,328 2,393 2,587 2,814 Public and publicly guaranteed .. .. 1,683 2,193 2,261 2,293 2,328 2,393 2,587 2,814 Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 27 65 66 73 73 80 96 104 Short-term debt .. .. 136 125 137 152 227 224 217 221 of which interest arrears on LDOD .. .. 103 99 106 109 131 145 192 207 Official creditors .. .. 102 99 106 109 131 145 192 207 Private creditors .. .. 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD .. .. 393 907 1,034 1,157 1,275 1,318 1,359 1,401 Official creditors .. .. 393 907 1,034 1,157 1,275 1,318 1,359 1,401 Private creditors .. .. 0 0 0 0 0 0 0 0 Memo: export credits .. .. 8 13 7 4 4 4 3 4 TOTAL DEBT FLOWS Disbursements .. .. 0 40 56 59 90 113 169 170 Long-term debt .. .. 0 40 56 48 79 92 147 158 IMF purchases 0 0 0 0 0 11 11 21 22 12 Principal repayments .. .. 0 4 6 18 14 13 14 16 Long-term debt .. .. 0 4 4 15 7 1 1 3 IMF repurchases 0 0 0 0 1 3 7 12 12 13 Net flows on debt .. .. 15 49 55 53 128 85 101 143 of which short-term debt .. .. 15 13 5 12 52 -16 -54 -10 Interest payments (INT) .. .. 30 5 6 14 18 9 8 9 Long-term debt .. .. 29 3 4 12 12 5 6 8 IMF charges 0 0 0 1 1 1 1 1 1 1 Short-term debt .. .. 1 1 2 2 5 4 1 0 Net transfers on debt .. .. -15 44 49 39 110 76 93 134 Total debt service paid (TDS) .. .. 30 9 12 32 32 22 21 25 Long-term debt .. .. 29 8 8 27 19 5 7 11 IMF repurchases and charges 0 0 0 1 2 4 7 13 13 14 Short-term debt (interest only) .. .. 1 1 2 2 5 4 1 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 23 411 465 385 421 435 472 429 Net flow of long-term debt (ex. IMF) .. .. 0 36 52 33 72 91 146 155 Foreign direct investment (net) .. .. 0 204 243 230 149 149 145 87 Portfolio equity flows .. .. 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. 23 171 170 122 201 194 180 188 Memo: technical coop. grants .. .. 19 123 121 94 102 122 136 164 official net resource flows .. .. 23 210 225 158 273 286 327 342 private net resource flows .. .. 0 201 240 227 149 149 145 87 NET TRANSFERS .. .. -6 403 405 286 287 297 315 285 Interest on long-term debt .. .. 29 3 4 12 12 5 6 8 Profit remittances on FDI .. .. 0 4 57 87 122 134 151 136 Memo: official net transfers .. .. -6 207 222 146 261 281 321 335 private net transfers .. .. 0 196 183 140 26 16 -6 -49 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 1,115 3,327 3,031 3,354 3,461 3,571 3,831 4,060 Exports of goods, serv. & inc. (XGS) .. .. .. 922 1,096 1,555 1,997 2,263 2,525 2,741 Worker remit. & comp. of employees .. .. 0 12 120 106 121 133 140 138 Imports of goods & services (MGS) .. .. .. 1,311 1,494 2,033 2,457 2,635 2,907 3,216 International reserves (RES) .. .. .. 299 439 509 611 697 913 982 Current account balance .. .. .. -210 -175 -188 -135 -86 -55 -125 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 258.3 224.9 161.9 131.6 119.1 114.9 114.5 EDT / GNI (%) .. .. 165.5 71.6 81.3 75.1 75.9 75.5 75.7 77.3 TDS / XGS (%) .. .. .. 1.0 1.1 2.1 1.6 1.0 0.9 0.9 INT / XGS (%) .. .. .. 0.5 0.6 0.9 0.9 0.4 0.3 0.3 INT / GNI (%) .. .. 2.7 0.1 0.2 0.4 0.5 0.3 0.2 0.2 RES / EDT (%) .. .. .. 12.5 17.8 20.2 23.3 25.9 31.5 31.3 RES / MGS (months) .. .. .. 2.7 3.5 3.0 3.0 3.2 3.8 3.7 Short-term / EDT (%) .. .. 7.3 5.2 5.5 6.0 8.6 8.3 7.5 7.1 Concessional / EDT (%) .. .. 91.2 90.5 90.5 90.2 88.2 88.4 88.9 89.3 Multilateral / EDT (%) .. .. 0.1 9.0 11.2 12.9 14.5 16.4 21.0 25.5 117 CAMBODIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 1,683 2,193 2,261 2,293 2,328 2,393 2,587 2,814 Public and publicly guaranteed .. .. 1,683 2,193 2,261 2,293 2,328 2,393 2,587 2,814 Official creditors .. .. 1,683 2,186 2,258 2,293 2,328 2,393 2,587 2,814 Multilateral .. .. 1 215 276 325 381 442 609 801 Concessional .. .. 1 215 276 325 381 442 609 801 Bilateral .. .. 1,681 1,972 1,982 1,968 1,947 1,951 1,978 2,013 Concessional .. .. 1,681 1,943 1,954 1,946 1,938 1,942 1,969 2,002 Private creditors .. .. 0 6 3 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 6 3 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 0 132 156 180 207 238 306 400 DISBURSEMENTS .. .. 0 40 56 48 79 92 147 158 Public and publicly guaranteed .. .. 0 40 56 48 79 92 147 158 Official creditors .. .. 0 40 56 48 79 92 147 158 Multilateral .. .. 0 40 47 48 78 85 124 129 Concessional .. .. 0 40 47 48 78 85 124 129 Bilateral .. .. 0 0 9 0 1 7 23 29 Concessional .. .. 0 0 9 0 1 7 23 29 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 30 19 27 37 40 47 63 PRINCIPAL REPAYMENTS .. .. 0 4 4 15 7 1 1 3 Public and publicly guaranteed .. .. 0 4 4 15 7 1 1 3 Official creditors .. .. 0 1 1 12 7 1 1 3 Multilateral .. .. 0 0 0 0 0 0 0 2 Concessional .. .. 0 0 0 0 0 0 0 2 Bilateral .. .. 0 1 1 12 7 1 1 2 Concessional .. .. 0 0 0 7 7 1 1 1 Private creditors .. .. 0 3 3 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 3 3 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 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. 0 36 52 33 72 91 146 155 Public and publicly guaranteed .. .. 0 36 52 33 72 91 146 155 Official creditors .. .. 0 39 55 36 72 91 146 155 Multilateral .. .. 0 40 47 48 78 85 124 127 Concessional .. .. 0 40 47 48 78 85 124 127 Bilateral .. .. 0 -1 8 -12 -6 6 22 28 Concessional .. .. 0 0 9 -7 -6 6 22 28 Private creditors .. .. 0 -3 -3 -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 -3 -3 -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 30 19 27 37 40 47 63 118 CAMBODIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 29 3 4 12 12 5 6 8 Public and publicly guaranteed .. .. 29 3 4 12 12 5 6 8 Official creditors .. .. 29 3 4 12 12 5 6 8 Multilateral .. .. 0 2 2 2 3 3 4 6 Concessional .. .. 0 2 2 2 3 3 4 6 Bilateral .. .. 29 2 2 9 9 1 2 2 Concessional .. .. 29 1 1 9 9 1 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 2 2 NET TRANSFERS ON DEBT .. .. -29 33 48 21 60 87 140 147 Public and publicly guaranteed .. .. -29 33 48 21 60 87 140 147 Official creditors .. .. -29 36 51 24 60 87 140 147 Multilateral .. .. 0 39 45 45 75 82 120 121 Concessional .. .. 0 39 45 45 75 82 120 121 Bilateral .. .. -29 -3 6 -21 -15 4 20 26 Concessional .. .. -29 -1 8 -16 -14 5 21 27 Private creditors .. .. 0 -3 -3 -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 -3 -3 -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 30 18 26 35 38 45 60 DEBT SERVICE (LTDS) .. .. 29 8 8 27 19 5 7 11 Public and publicly guaranteed .. .. 29 8 8 27 19 5 7 11 Official creditors .. .. 29 4 5 24 19 5 7 11 Multilateral .. .. 0 2 2 2 3 3 4 7 Concessional .. .. 0 2 2 2 3 3 4 7 Bilateral .. .. 29 3 3 21 16 2 3 4 Concessional .. .. 29 1 1 16 16 2 2 3 Private creditors .. .. 0 3 3 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 3 3 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 1 1 1 1 1 2 2 UNDISBURSED DEBT .. .. 651 231 214 332 436 439 473 544 Official creditors .. .. 651 231 214 332 436 439 473 544 Private creditors .. .. 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD .. .. 1,683 2,158 2,230 2,271 2,319 2,384 2,578 2,803 Variable rate LDOD .. .. 0 0 0 0 0 0 0 0 Public sector LDOD .. .. 1,683 2,193 2,261 2,293 2,328 2,393 2,587 2,814 Private sector LDOD .. .. 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 0.8 0.8 0.9 Deutsche mark .. .. 0.4 0.1 0.1 0.1 0.1 .. .. .. French franc .. .. 0.5 0.9 1.0 0.8 0.8 .. .. .. Japanese yen .. .. 0.6 0.3 0.3 0.3 0.3 0.3 0.7 1.0 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 .. .. 12.6 28.9 29.0 29.4 30.2 31.6 34.7 38.0 Multiple currency .. .. 0.0 3.8 5.2 6.0 6.8 6.7 7.1 7.2 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.1 0.2 0.4 0.5 All other currencies .. .. 86.0 66.0 64.4 63.3 61.8 60.4 56.4 52.4 119 CAMBODIA (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 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 3 0 0 0 0 0 0 Official .. .. 0 3 0 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 2 0 0 0 0 0 0 Official .. .. 0 2 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 .. .. 166 29 82 53 111 69 204 239 Net flows on debt .. .. 15 49 55 53 128 85 101 143 Net change in interest arrears .. .. 10 5 7 3 23 13 47 15 Interest capitalized .. .. 0 2 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 4 -22 16 -3 -28 -29 54 80 Residual .. .. 136 -5 3 0 -12 0 2 1 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 0.0 1.1 0.5 1.1 1.3 0.9 1.1 1.0 Maturity (years) .. .. 0.0 38.3 39.5 37.6 30.3 34.5 30.5 33.0 Grace period (years) .. .. 0.0 9.7 10.0 9.7 8.2 9.9 8.8 9.6 Grant element (%) .. .. 0.0 76.0 82.5 76.2 68.6 76.8 71.6 74.8 Official creditors Interest (%) .. .. 0.0 1.1 0.5 1.1 1.3 0.9 1.1 1.0 Maturity (years) .. .. 0.0 38.3 39.5 37.6 30.3 34.5 30.5 33.0 Grace period (years) .. .. 0.0 9.7 10.0 9.7 8.2 9.9 8.8 9.6 Grant element (%) .. .. 0.0 76.0 82.5 76.2 68.6 76.8 71.6 74.8 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 75 31 175 185 131 152 214 Official creditors .. .. 0 75 31 175 185 131 152 214 Private creditors .. .. 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 134 115 86 65 50 34 24 16 10 6 Principal 48 51 52 53 58 60 61 67 62 65 Interest 20 22 22 24 24 24 24 23 22 21 Official creditors Disbursements 134 115 86 65 50 34 24 16 10 6 Principal 48 51 52 53 58 60 61 67 62 65 Interest 20 22 22 24 24 24 24 23 22 21 Bilateral creditors Disbursements 29 27 19 13 10 7 5 4 2 1 Principal 45 45 42 40 40 36 31 33 27 29 Interest 11 11 11 11 10 10 9 9 8 7 Multilateral creditors Disbursements 105 88 67 52 40 27 19 11 7 4 Principal 3 6 10 13 18 23 30 34 35 37 Interest 9 11 12 14 14 14 14 14 14 14 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 0 120 CAMEROON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 145 2,588 6,657 9,372 9,966 9,485 9,299 8,401 8,555 9,189 Long-term debt (LDOD) 145 2,251 5,577 7,965 8,412 8,011 7,763 7,200 7,470 8,497 Public and publicly guaranteed 136 2,073 5,347 7,767 8,233 7,656 7,446 6,975 7,293 7,882 Private nonguaranteed 9 178 230 198 179 355 317 226 177 615 Use of IMF credit 0 59 121 93 156 196 235 244 307 347 Short-term debt 0 278 960 1,314 1,398 1,278 1,301 957 778 345 of which interest arrears on LDOD 0 9 191 185 172 154 282 177 186 61 Official creditors 0 3 87 78 64 56 144 94 74 16 Private creditors 0 6 105 108 109 98 138 84 111 45 Memo: principal arrears on LDOD 0 7 350 490 528 471 564 261 316 76 Official creditors 0 2 103 170 200 175 265 145 179 27 Private creditors 0 5 246 320 328 296 299 115 137 49 Memo: export credits 0 0 2,193 2,620 2,404 2,254 2,171 2,056 2,121 2,374 TOTAL DEBT FLOWS Disbursements 39 626 713 297 261 306 354 170 155 167 Long-term debt 39 614 713 260 188 245 286 150 114 145 IMF purchases 0 12 0 37 73 62 69 20 41 22 Principal repayments 6 131 268 275 284 284 268 183 192 263 Long-term debt 6 114 267 264 267 266 250 181 192 252 IMF repurchases 0 17 1 11 16 18 17 2 0 11 Net flows on debt 33 538 682 680 74 -80 -18 -253 -223 -404 of which short-term debt 0 43 237 657 97 -102 -105 -239 -187 -308 Interest payments (INT) 5 149 250 231 235 262 288 152 156 185 Long-term debt 5 119 197 188 178 201 215 117 128 171 IMF charges 0 2 11 3 3 2 2 1 2 2 Short-term debt 0 28 42 40 55 59 72 34 25 13 Net transfers on debt 28 389 432 448 -161 -342 -307 -404 -379 -590 Total debt service paid (TDS) 11 280 518 506 519 546 556 335 347 449 Long-term debt 11 233 463 452 445 467 465 298 320 423 IMF repurchases and charges 0 19 13 14 19 20 19 3 2 13 Short-term debt (interest only) 0 28 42 40 55 59 72 34 25 13 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 70 659 646 181 248 208 239 254 352 892 Net flow of long-term debt (ex. IMF) 33 500 447 -3 -80 -21 36 -32 -77 -107 Foreign direct investment (net) 16 130 -113 45 50 40 31 67 86 215 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 21 29 313 139 278 190 172 219 343 784 Memo: technical coop. grants 17 85 126 95 107 97 94 106 115 138 official net resource flows 44 250 771 161 242 221 260 278 314 738 private net resource flows 26 409 -124 20 6 -12 -21 -24 38 154 NET TRANSFERS 65 425 311 -76 17 -19 -31 100 207 644 Interest on long-term debt 5 119 197 188 178 201 215 117 128 171 Profit remittances on FDI 0 115 139 69 53 26 55 38 16 77 Memo: official net transfers 40 208 647 -11 83 42 62 173 194 614 private net transfers 25 216 -336 -65 -66 -61 -93 -73 14 30 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,025 5,618 10,674 8,506 8,234 8,719 8,284 7,887 9,223 11,749 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 10 10 13 220 340 640 652 Current account balance .. -445 -551 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 122.8 262.6 .. .. .. .. .. .. .. EDT / GNI (%) 14.1 46.1 62.4 110.2 121.0 108.8 112.3 106.5 92.8 78.2 TDS / XGS (%) .. 13.3 20.5 .. .. .. .. .. .. .. INT / XGS (%) .. 7.1 9.9 .. .. .. .. .. .. .. INT / GNI (%) 0.5 2.7 2.3 2.7 2.9 3.0 3.5 1.9 1.7 1.6 RES / EDT (%) 55.8 8.0 0.6 0.1 0.1 0.1 2.4 4.0 7.5 7.1 RES / MGS (months) .. 1.0 0.1 .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 10.8 14.4 14.0 14.0 13.5 14.0 11.4 9.1 3.8 Concessional / EDT (%) 74.1 33.7 27.4 45.7 46.3 45.5 45.9 50.5 53.1 56.9 Multilateral / EDT (%) 14.0 16.7 19.5 15.5 14.9 15.3 15.2 16.2 16.6 17.1 121 CAMEROON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 145 2,251 5,577 7,965 8,412 8,011 7,763 7,200 7,470 8,497 Public and publicly guaranteed 136 2,073 5,347 7,767 8,233 7,656 7,446 6,975 7,293 7,882 Official creditors 124 1,237 3,864 7,214 7,754 7,284 7,116 6,819 7,122 7,797 Multilateral 20 432 1,298 1,457 1,481 1,452 1,413 1,358 1,423 1,574 Concessional 12 210 341 736 837 903 955 951 1,078 1,213 Bilateral 104 805 2,566 5,757 6,272 5,832 5,703 5,460 5,699 6,222 Concessional 95 663 1,486 3,543 3,775 3,413 3,315 3,294 3,468 4,014 Private creditors 12 836 1,483 553 479 372 330 156 171 85 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 193 503 314 327 279 256 101 117 39 Other private 12 643 980 239 152 93 74 55 54 46 Private nonguaranteed 9 178 230 198 179 355 317 226 177 615 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 9 178 230 198 179 355 317 226 177 615 Memo: IBRD 3 152 633 402 342 270 214 176 141 145 IDA 9 146 238 609 701 749 769 758 847 944 DISBURSEMENTS 39 614 713 260 188 245 286 150 114 145 Public and publicly guaranteed 28 564 661 246 178 189 247 150 114 133 Official creditors 27 250 554 246 178 189 247 150 114 133 Multilateral 9 72 195 148 107 119 115 71 73 105 Concessional 6 22 2 123 93 102 104 41 72 55 Bilateral 18 178 359 98 71 70 133 79 41 28 Concessional 15 120 106 98 70 70 126 78 41 28 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 14 10 55 39 0 0 12 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 11 50 53 14 10 55 39 0 0 12 Memo: IBRD 3 28 70 6 3 1 0 13 1 35 IDA 4 19 0 120 79 65 55 20 50 36 PRINCIPAL REPAYMENTS 6 114 267 264 267 266 250 181 192 252 Public and publicly guaranteed 5 82 137 238 247 164 164 90 143 192 Official creditors 4 29 96 224 213 158 160 90 143 179 Multilateral 0 10 66 161 123 115 95 48 74 69 Concessional 0 2 6 30 14 15 16 16 16 16 Bilateral 4 19 29 64 90 43 65 42 69 110 Concessional 3 12 17 20 54 32 45 37 61 98 Private creditors 0 53 41 14 34 6 4 0 0 13 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 18 28 8 7 4 4 0 0 11 Other private 0 35 14 6 27 2 0 0 0 2 Private nonguaranteed 2 32 130 25 20 102 86 91 49 60 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 32 130 25 20 102 86 91 49 60 Memo: IBRD 0 4 40 74 67 63 52 21 22 35 IDA 0 0 3 5 5 6 7 7 8 7 NET FLOWS ON DEBT 33 500 447 -3 -80 -21 36 -32 -77 -107 Public and publicly guaranteed 24 482 524 8 -70 25 84 59 -29 -59 Official creditors 23 221 458 22 -36 31 88 59 -29 -46 Multilateral 9 63 129 -13 -16 4 20 23 0 36 Concessional 6 21 -4 93 79 87 89 24 56 39 Bilateral 14 159 330 35 -19 27 68 36 -29 -82 Concessional 12 109 89 79 15 38 82 41 -20 -70 Private creditors 1 261 66 -14 -34 -6 -4 0 0 -13 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 97 -17 -8 -7 -4 -4 0 0 -11 Other private 1 164 83 -6 -27 -2 0 0 0 -2 Private nonguaranteed 9 18 -77 -11 -10 -47 -48 -91 -49 -48 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 9 18 -77 -11 -10 -47 -48 -91 -49 -48 Memo: IBRD 3 24 30 -68 -64 -62 -52 -8 -21 0 IDA 4 19 -3 115 74 59 49 12 42 29 122 CAMEROON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 5 119 197 188 178 201 215 117 128 171 Public and publicly guaranteed 4 104 180 178 174 180 198 105 121 124 Official creditors 4 42 124 173 159 179 198 105 121 124 Multilateral 1 18 71 90 59 56 48 32 43 31 Concessional 0 2 4 10 6 7 7 8 9 9 Bilateral 3 24 52 82 100 123 150 73 78 93 Concessional 2 13 28 51 56 48 59 28 37 49 Private creditors 1 62 56 6 15 1 1 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 23 40 2 5 1 1 0 0 0 Other private 1 39 16 4 10 0 0 0 0 0 Private nonguaranteed 1 15 17 10 4 21 17 12 8 47 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 15 17 10 4 21 17 12 8 47 Memo: IBRD 0 13 48 36 28 26 22 18 14 10 IDA 0 1 2 4 5 5 5 6 6 6 NET TRANSFERS ON DEBT 28 381 250 -191 -257 -223 -179 -148 -206 -278 Public and publicly guaranteed 19 378 344 -170 -243 -155 -115 -46 -149 -183 Official creditors 19 180 335 -151 -195 -148 -110 -46 -149 -169 Multilateral 9 45 57 -103 -75 -51 -28 -9 -43 5 Concessional 6 19 -8 83 73 80 81 17 48 30 Bilateral 11 135 277 -47 -120 -97 -82 -36 -106 -175 Concessional 10 95 60 28 -40 -10 23 13 -57 -120 Private creditors 0 199 10 -19 -49 -7 -5 0 0 -14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 73 -57 -10 -12 -5 -5 0 0 -11 Other private 0 125 66 -10 -37 -2 0 0 0 -3 Private nonguaranteed 9 3 -94 -21 -14 -68 -64 -103 -56 -94 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 9 3 -94 -21 -14 -68 -64 -103 -56 -94 Memo: IBRD 3 12 -18 -104 -92 -88 -73 -26 -35 -10 IDA 4 18 -4 110 69 54 43 6 36 23 DEBT SERVICE (LTDS) 11 233 463 452 445 467 465 298 320 423 Public and publicly guaranteed 9 186 317 416 421 344 362 195 264 316 Official creditors 8 71 219 397 372 337 358 195 263 303 Multilateral 1 28 138 251 182 171 143 80 116 100 Concessional 0 4 10 40 20 22 23 24 25 25 Bilateral 7 43 81 146 191 166 215 115 147 203 Concessional 5 25 46 70 110 80 103 65 98 148 Private creditors 1 115 97 19 49 7 5 0 0 14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 41 67 10 12 5 5 0 0 11 Other private 1 74 30 10 37 2 0 0 0 3 Private nonguaranteed 2 47 147 35 24 124 103 103 56 106 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 47 147 35 24 124 103 103 56 106 Memo: IBRD 0 17 88 110 95 89 73 38 35 45 IDA 0 2 4 10 10 11 12 13 14 13 UNDISBURSED DEBT 104 619 1,839 859 1,117 904 624 717 779 738 Official creditors 103 545 1,521 855 1,113 904 624 717 779 738 Private creditors 1 74 318 4 4 0 0 0 0 0 Memorandum items Concessional LDOD 107 873 1,826 4,279 4,612 4,316 4,270 4,245 4,546 5,227 Variable rate LDOD 9 499 835 1,317 1,280 1,364 1,254 1,098 1,058 1,570 Public sector LDOD 127 2,006 5,224 7,707 8,174 7,605 7,399 6,975 7,293 7,882 Private sector LDOD 17 245 353 257 238 406 364 226 177 615 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 58.9 59.4 60.2 Deutsche mark 10.7 8.6 17.0 17.4 17.4 16.5 16.1 .. .. .. French franc 15.8 36.8 31.5 34.0 33.7 31.5 30.1 .. .. .. Japanese yen 0.0 0.0 0.3 0.3 0.3 0.3 0.5 0.9 1.1 1.1 Pound sterling 2.8 2.0 2.3 1.9 1.8 1.9 1.8 1.5 1.5 1.4 Swiss franc 0.0 0.0 1.1 1.0 0.9 0.7 0.7 0.7 0.8 0.8 U.S.dollars 22.7 19.2 11.1 16.4 22.6 26.2 27.3 29.5 29.1 28.5 Multiple currency 4.9 10.5 16.2 9.0 4.0 3.9 3.5 3.4 2.9 2.7 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 19.7 19.1 18.7 19.8 4.9 5.0 5.2 123 CAMEROON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 75 1,075 370 482 158 263 41 90 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 26 406 208 218 20 138 30 37 Official .. .. 7 306 147 180 9 61 29 37 Private .. .. 19 99 60 38 12 77 1 0 Interest rescheduled .. .. 22 564 151 141 16 83 22 21 Official .. .. 6 538 141 137 15 44 22 21 Private .. .. 16 26 9 4 0 39 0 0 Debt forgiven .. .. 10 73 23 20 4 412 193 308 Memo: interest forgiven .. .. 0 89 17 16 2 244 82 104 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 -250 594 -481 -186 -898 154 634 Net flows on debt 33 538 682 680 74 -80 -18 -253 -223 -404 Net change in interest arrears .. .. 115 -602 -13 -19 128 -105 8 -125 Interest capitalized .. .. 22 564 151 141 16 83 22 21 Debt forgiveness or reduction .. .. -10 -73 -23 -20 -4 -412 -193 -308 Cross-currency valuation .. .. 336 -1,057 121 -812 -420 -298 893 1,037 Residual .. .. 87 239 284 308 114 86 -353 413 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.7 6.9 6.6 2.4 1.1 2.0 0.7 2.5 0.9 0.9 Maturity (years) 28.4 23.3 15.1 23.1 36.8 27.7 42.6 30.3 33.9 22.5 Grace period (years) 8.0 5.9 5.3 7.7 9.8 8.5 9.8 9.7 9.0 6.2 Grant element (%) 39.9 25.9 21.2 55.8 75.1 62.4 80.2 59.7 74.5 63.7 Official creditors Interest (%) 4.6 6.1 6.6 2.4 1.1 2.0 0.7 2.5 0.9 0.9 Maturity (years) 28.8 24.8 15.2 23.1 36.8 27.7 42.6 30.3 33.9 22.5 Grace period (years) 8.1 6.3 5.3 7.7 9.8 8.5 9.8 9.7 9.0 6.2 Grant element (%) 40.4 30.6 21.3 55.8 75.1 62.4 80.2 59.7 74.5 63.7 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 42 170 479 156 385 253 73 286 138 58 Official creditors 41 155 473 156 385 253 73 286 138 58 Private creditors 1 15 6 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 225 158 112 83 60 40 27 13 7 3 Principal 546 673 573 503 492 461 340 346 314 301 Interest 317 296 260 234 211 192 171 158 146 136 Official creditors Disbursements 225 158 112 83 60 40 27 13 7 3 Principal 507 526 501 434 426 398 332 339 307 297 Interest 273 251 228 210 194 182 168 156 144 135 Bilateral creditors Disbursements 60 51 33 21 12 6 3 1 1 0 Principal 417 438 416 361 353 321 267 275 251 240 Interest 243 225 204 189 175 166 154 143 133 124 Multilateral creditors Disbursements 165 107 79 62 48 34 24 12 7 3 Principal 90 88 85 73 73 77 65 64 57 57 Interest 30 27 24 21 19 17 14 13 12 11 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 39 147 72 69 66 63 8 8 7 4 Interest 44 45 32 24 17 10 3 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 39 147 72 69 66 63 8 8 7 4 Interest 44 45 32 24 17 10 3 2 2 1 124 CAPE VERDE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 133.8 206.5 246.5 327.4 327.2 360.7 413.5 480.2 Long-term debt (LDOD) .. .. 129.1 199.5 240.9 308.0 314.6 341.3 385.0 434.8 Public and publicly guaranteed .. .. 129.1 199.5 240.9 308.0 314.6 341.3 385.0 434.8 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 3.3 7.3 Short-term debt .. .. 4.7 7.0 5.7 19.4 12.6 19.4 25.2 38.0 of which interest arrears on LDOD .. .. 2.3 4.0 2.7 3.7 4.0 3.7 3.3 3.4 Official creditors .. .. 1.9 3.4 2.7 3.6 4.0 3.4 3.1 3.1 Private creditors .. .. 0.4 0.5 0.0 0.1 0.0 0.3 0.3 0.3 Memo: principal arrears on LDOD .. .. 11.1 19.6 15.4 24.8 34.1 26.4 24.4 24.7 Official creditors .. .. 10.4 17.4 15.4 23.0 32.9 25.8 23.4 23.4 Private creditors .. .. 0.7 2.2 0.0 1.8 1.2 0.6 1.0 1.3 TOTAL DEBT FLOWS Disbursements .. .. 12.1 21.6 54.5 63.2 28.8 51.5 37.7 33.4 Long-term debt .. .. 12.1 21.6 54.5 63.2 28.8 51.5 34.5 30.0 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.2 3.4 Principal repayments .. .. 3.7 10.3 15.6 16.2 11.1 9.8 14.3 15.7 Long-term debt .. .. 3.7 10.3 15.6 16.2 11.1 9.8 14.3 15.7 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 13.3 38.7 59.7 10.7 48.8 29.5 30.5 of which short-term debt .. .. 2.4 2.0 -0.1 12.8 -7.1 7.0 6.1 12.8 Interest payments (INT) .. .. 2.0 4.2 3.8 3.8 5.0 4.2 7.4 6.2 Long-term debt .. .. 1.9 4.1 3.7 3.3 4.8 3.6 6.6 5.2 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 0.1 0.2 0.5 0.3 0.6 0.8 1.0 Net transfers on debt .. .. 8.7 9.1 34.9 55.9 5.6 44.6 22.1 24.3 Total debt service paid (TDS) .. .. 5.7 14.5 19.5 20.0 16.1 14.0 21.7 21.9 Long-term debt .. .. 5.6 14.4 19.3 19.5 15.9 13.4 20.9 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 0.1 0.2 0.5 0.3 0.6 0.8 1.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 86.1 86.2 109.5 149.1 94.7 74.3 76.6 86.3 Net flow of long-term debt (ex. IMF) .. .. 8.3 11.3 38.8 46.9 17.7 41.7 20.2 14.2 Foreign direct investment (net) .. .. 0.3 11.6 9.0 53.3 33.4 9.1 14.8 14.8 Portfolio equity flows .. .. 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 77.5 63.2 61.7 45.9 43.6 23.5 41.7 57.2 Memo: technical coop. grants .. .. 18.0 33.9 36.0 30.9 29.6 18.2 21.4 56.7 official net resource flows .. .. 85.9 74.3 102.7 93.4 63.1 56.8 60.4 70.3 private net resource flows .. .. 0.2 11.9 6.8 55.7 31.6 17.5 16.2 16.0 NET TRANSFERS .. .. 84.2 82.0 103.5 143.8 84.8 69.3 65.9 78.9 Interest on long-term debt .. .. 1.9 4.1 3.7 3.3 4.8 3.6 6.6 5.2 Profit remittances on FDI .. .. 0.0 0.0 2.4 2.0 5.1 1.4 4.1 2.2 Memo: official net transfers .. .. 84.1 71.3 99.6 90.4 59.2 53.6 54.9 65.9 private net transfers .. .. 0.2 10.7 3.8 53.4 25.6 15.7 11.0 13.0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 340.5 498.3 534.0 575.1 520.0 544.1 606.0 784.3 Exports of goods, serv. & inc. (XGS) .. .. 119.3 213.7 193.6 210.9 236.6 254.1 285.7 382.1 Worker remit. & comp. of employees .. .. 59.0 76.0 74.0 79.0 87.0 81.0 85.0 92.0 Imports of goods & services (MGS) .. .. 153.1 295.5 317.5 365.3 343.6 363.2 438.4 577.0 International reserves (RES) .. .. 77.0 19.3 8.3 42.6 28.3 45.4 79.8 93.6 Current account balance .. .. -3.8 -29.7 -58.5 -74.2 -58.0 -55.7 -71.5 -77.2 4. DEBT INDICATORS EDT / XGS (%) .. .. 112.1 96.7 127.4 155.2 138.3 141.9 144.7 125.6 EDT / GNI (%) .. .. 39.3 41.4 46.2 56.9 62.9 66.3 68.2 61.2 TDS / XGS (%) .. .. 4.8 6.8 10.0 9.5 6.8 5.5 7.6 5.7 INT / XGS (%) .. .. 1.7 2.0 2.0 1.8 2.1 1.6 2.6 1.6 INT / GNI (%) .. .. 0.6 0.8 0.7 0.7 1.0 0.8 1.2 0.8 RES / EDT (%) .. .. 57.5 9.4 3.4 13.0 8.6 12.6 19.3 19.5 RES / MGS (months) .. .. 6.0 0.8 0.3 1.4 1.0 1.5 2.2 1.9 Short-term / EDT (%) .. .. 3.5 3.4 2.3 5.9 3.9 5.4 6.1 7.9 Concessional / EDT (%) .. .. 70.2 78.3 78.3 78.3 82.1 84.1 83.6 81.5 Multilateral / EDT (%) .. .. 65.0 73.3 73.3 67.8 70.0 66.8 67.6 67.5 125 CAPE VERDE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 129.1 199.5 240.9 308.0 314.6 341.3 385.0 434.8 Public and publicly guaranteed .. .. 129.1 199.5 240.9 308.0 314.6 341.3 385.0 434.8 Official creditors .. .. 126.6 187.5 231.0 298.7 307.1 325.3 365.2 410.3 Multilateral .. .. 87.0 151.3 180.7 222.0 229.2 240.8 279.6 324.1 Concessional .. .. 68.4 135.0 165.1 210.1 220.0 232.7 273.2 316.8 Bilateral .. .. 39.6 36.2 50.3 76.8 77.9 84.5 85.6 86.3 Concessional .. .. 25.5 26.7 28.0 46.3 48.4 70.8 72.6 74.5 Private creditors .. .. 2.5 12.0 9.9 9.3 7.5 16.0 19.8 24.5 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 12.0 9.9 9.3 7.5 16.0 19.8 24.5 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 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 13.6 45.1 70.2 92.5 97.9 109.6 140.4 173.3 DISBURSEMENTS .. .. 12.1 21.6 54.5 63.2 28.8 51.5 34.5 30.0 Public and publicly guaranteed .. .. 12.1 21.6 54.5 63.2 28.8 51.5 34.5 30.0 Official creditors .. .. 12.1 20.2 54.5 63.2 28.8 40.4 30.1 25.4 Multilateral .. .. 6.0 19.5 29.3 40.9 23.5 24.9 30.1 25.4 Concessional .. .. 6.0 19.2 29.3 40.9 23.5 24.9 30.1 25.4 Bilateral .. .. 6.1 0.7 25.1 22.3 5.3 15.5 0.0 0.0 Concessional .. .. 0.7 0.7 2.6 15.8 5.3 15.5 0.0 0.0 Private creditors .. .. 0.0 1.5 0.0 0.0 0.0 11.1 4.4 4.5 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 1.5 0.0 0.0 0.0 11.1 4.4 4.5 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 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 2.0 8.3 22.7 24.1 10.4 16.0 22.0 19.0 PRINCIPAL REPAYMENTS .. .. 3.7 10.3 15.6 16.2 11.1 9.8 14.3 15.7 Public and publicly guaranteed .. .. 3.7 10.3 15.6 16.2 11.1 9.8 14.3 15.7 Official creditors .. .. 3.6 9.1 13.5 15.6 9.3 7.1 11.4 12.4 Multilateral .. .. 2.5 7.0 6.2 5.4 6.1 5.0 8.1 7.7 Concessional .. .. 1.0 5.1 4.7 3.9 4.8 4.2 5.9 6.6 Bilateral .. .. 1.1 2.0 7.2 10.2 3.2 2.2 3.3 4.7 Concessional .. .. 0.2 1.4 1.0 0.5 2.2 1.4 2.6 3.5 Private creditors .. .. 0.1 1.2 2.2 0.6 1.8 2.7 2.9 3.3 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 .. .. 0.1 1.2 2.2 0.6 1.8 2.7 2.9 3.3 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 0.0 0.1 0.2 0.3 0.3 0.3 0.3 0.7 NET FLOWS ON DEBT .. .. 8.3 11.3 38.8 46.9 17.7 41.7 20.2 14.2 Public and publicly guaranteed .. .. 8.3 11.3 38.8 46.9 17.7 41.7 20.2 14.2 Official creditors .. .. 8.5 11.1 41.0 47.5 19.5 33.3 18.7 13.1 Multilateral .. .. 3.5 12.4 23.1 35.4 17.4 19.9 22.0 17.8 Concessional .. .. 5.0 14.1 24.7 36.9 18.7 20.7 24.2 18.8 Bilateral .. .. 4.9 -1.3 17.9 12.1 2.1 13.4 -3.3 -4.7 Concessional .. .. 0.6 -0.7 1.6 15.2 3.1 14.2 -2.5 -3.5 Private creditors .. .. -0.1 0.3 -2.2 -0.6 -1.8 8.4 1.4 1.2 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 0.0 0.0 0.0 0.0 0.0 Other private .. .. -0.1 0.3 -2.2 -0.6 -1.8 8.4 1.4 1.2 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 8.2 22.5 23.8 10.2 15.7 21.7 18.3 126 CAPE VERDE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 1.9 4.1 3.7 3.3 4.8 3.6 6.6 5.2 Public and publicly guaranteed .. .. 1.9 4.1 3.7 3.3 4.8 3.6 6.6 5.2 Official creditors .. .. 1.9 3.0 3.0 3.0 3.9 3.2 5.5 4.4 Multilateral .. .. 1.2 2.2 2.4 2.1 2.7 1.7 3.7 3.0 Concessional .. .. 0.5 1.4 1.8 1.9 2.3 1.5 3.3 2.9 Bilateral .. .. 0.7 0.8 0.6 0.9 1.1 1.5 1.8 1.4 Concessional .. .. 0.0 0.4 0.4 0.3 0.8 1.0 1.6 1.3 Private creditors .. .. 0.0 1.2 0.6 0.3 0.9 0.4 1.1 0.8 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 .. .. 0.0 1.2 0.6 0.3 0.9 0.4 1.1 0.8 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 0.1 0.3 0.4 0.5 0.7 0.7 0.9 1.1 NET TRANSFERS ON DEBT .. .. 6.5 7.2 35.2 43.7 12.9 38.1 13.5 9.1 Public and publicly guaranteed .. .. 6.5 7.2 35.2 43.7 12.9 38.1 13.5 9.1 Official creditors .. .. 6.6 8.1 37.9 44.5 15.7 30.1 13.2 8.6 Multilateral .. .. 2.3 10.3 20.7 33.3 14.7 18.2 18.3 14.8 Concessional .. .. 4.6 12.7 22.8 35.1 16.4 19.2 20.9 16.0 Bilateral .. .. 4.3 -2.2 17.3 11.2 1.0 11.9 -5.0 -6.1 Concessional .. .. 0.6 -1.1 1.2 15.0 2.3 13.2 -4.1 -4.8 Private creditors .. .. -0.2 -0.9 -2.8 -0.9 -2.7 8.0 0.3 0.4 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 .. .. -0.2 -0.9 -2.8 -0.9 -2.7 8.0 0.3 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 IDA .. 0.0 1.9 7.9 22.1 23.3 9.5 15.0 20.8 17.2 DEBT SERVICE (LTDS) .. .. 5.6 14.4 19.3 19.5 15.9 13.4 20.9 20.9 Public and publicly guaranteed .. .. 5.6 14.4 19.3 19.5 15.9 13.4 20.9 20.9 Official creditors .. .. 5.5 12.0 16.5 18.6 13.1 10.3 16.9 16.8 Multilateral .. .. 3.7 9.2 8.7 7.6 8.8 6.7 11.8 10.7 Concessional .. .. 1.4 6.5 6.5 5.8 7.1 5.6 9.2 9.5 Bilateral .. .. 1.8 2.9 7.8 11.1 4.3 3.6 5.0 6.1 Concessional .. .. 0.2 1.8 1.4 0.8 3.0 2.3 4.2 4.8 Private creditors .. .. 0.2 2.4 2.8 0.9 2.7 3.1 4.0 4.1 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 .. .. 0.2 2.4 2.8 0.9 2.7 3.1 4.0 4.1 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 0.4 0.6 0.8 0.9 1.0 1.2 1.8 UNDISBURSED DEBT .. .. 99.9 116.4 146.8 153.3 126.9 123.6 122.9 113.2 Official creditors .. .. 99.9 115.5 145.8 152.4 118.6 110.5 110.0 102.9 Private creditors .. .. 0.0 0.9 0.9 0.9 8.3 13.1 12.9 10.3 Memorandum items Concessional LDOD .. .. 93.9 161.7 193.1 256.5 268.5 303.4 345.9 391.2 Variable rate LDOD .. .. 0.0 0.0 0.0 7.3 6.7 16.3 21.2 25.7 Public sector LDOD .. .. 129.1 199.5 240.9 308.0 314.6 341.3 385.0 434.8 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 13.5 Deutsche mark .. .. 0.0 0.0 0.0 3.9 3.3 .. .. .. 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 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 43.4 51.3 54.1 55.7 54.0 54.7 53.9 Multiple currency .. .. 16.1 5.9 4.9 4.0 4.5 4.7 4.6 4.9 Special drawing rights .. .. 0.1 4.1 3.9 3.3 3.1 2.8 2.7 2.7 All other currencies .. .. 45.3 46.6 39.9 34.6 33.4 26.6 25.3 25.0 127 CAPE VERDE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0.0 2.6 0.0 2.9 0.0 15.0 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 1.9 0.0 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 1.9 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 0.7 0.0 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 0.7 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 .. .. 8.2 0.0 0.4 0.0 0.0 21.0 0.0 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 4.4 40.0 80.9 -0.2 33.5 52.8 66.6 Net flows on debt .. .. 10.7 13.3 38.7 59.7 10.7 48.8 29.5 30.5 Net change in interest arrears .. .. -0.2 -1.1 -1.3 1.0 0.3 -0.3 -0.3 0.1 Interest capitalized .. .. 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -8.2 0.0 -0.4 0.0 0.0 -21.0 0.0 0.0 Cross-currency valuation .. .. 2.9 -5.0 2.3 -1.5 -7.0 -4.1 17.6 23.2 Residual .. .. 2.4 -3.5 0.7 21.7 -4.2 10.1 6.1 12.9 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 1.5 0.8 1.2 0.8 3.1 2.7 0.9 0.8 Maturity (years) .. .. 42.6 50.1 21.6 34.7 28.7 20.5 40.1 39.8 Grace period (years) .. .. 9.1 10.6 5.4 9.2 5.8 4.8 9.6 10.3 Grant element (%) .. .. 73.0 83.5 47.5 72.4 50.2 45.9 76.3 80.7 Official creditors Interest (%) .. .. 1.5 0.8 1.2 0.8 0.8 1.3 0.9 0.8 Maturity (years) .. .. 42.6 50.1 21.6 34.7 45.9 26.1 42.9 39.8 Grace period (years) .. .. 9.1 10.6 5.4 9.2 9.3 6.1 10.3 10.3 Grant element (%) .. .. 73.0 83.5 47.5 72.4 80.1 60.1 80.2 80.7 Private creditors Interest (%) .. .. 0.0 0.0 0.0 0.0 5.5 5.5 1.0 0.0 Maturity (years) .. .. 0.0 0.0 0.0 0.0 10.6 8.5 7.0 0.0 Grace period (years) .. .. 0.0 0.0 0.0 0.0 2.2 2.2 2.0 0.0 Grant element (%) .. .. 0.0 0.0 0.0 0.0 18.6 16.0 30.6 0.0 Memorandum items Commitments .. .. 36 10 93 62 15 51 27 16 Official creditors .. .. 36 10 93 62 8 35 25 16 Private creditors .. .. 0 0 0 0 7 16 2 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 34.5 25.0 16.6 12.7 9.2 5.6 4.2 2.3 1.4 0.9 Principal 24.6 24.1 23.2 21.7 22.3 22.5 20.7 19.4 13.8 13.1 Interest 5.8 5.7 5.4 5.0 4.6 4.2 3.8 3.4 3.0 2.8 Official creditors Disbursements 27.9 21.8 16.3 12.5 9.2 5.6 4.2 2.3 1.4 0.9 Principal 18.8 19.0 18.1 17.9 18.5 18.9 17.4 17.3 13.4 13.1 Interest 4.9 4.9 4.8 4.5 4.3 4.0 3.6 3.3 3.0 2.8 Bilateral creditors Disbursements 2.1 2.9 2.0 1.4 0.9 0.4 0.3 0.2 0.0 0.0 Principal 7.8 8.8 8.8 8.4 8.1 8.1 5.8 5.8 2.0 1.6 Interest 1.4 1.3 1.2 1.0 0.9 0.7 0.5 0.4 0.3 0.2 Multilateral creditors Disbursements 25.8 18.9 14.2 11.1 8.3 5.1 4.0 2.1 1.4 0.9 Principal 11.0 10.2 9.3 9.5 10.4 10.8 11.6 11.5 11.4 11.5 Interest 3.5 3.6 3.6 3.5 3.4 3.3 3.1 2.9 2.8 2.6 Private creditors Disbursements 6.6 3.2 0.4 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Principal 5.9 5.1 5.1 3.8 3.8 3.6 3.3 2.1 0.5 0.0 Interest 0.9 0.8 0.6 0.5 0.4 0.2 0.1 0.1 0.0 0.0 Commercial banks Disbursements 1.4 0.9 0.4 0.2 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.5 0.5 0.5 0.5 0.5 0.3 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 5.2 2.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 5.3 4.6 4.6 3.3 3.3 3.3 3.3 2.1 0.5 0.0 Interest 0.8 0.7 0.6 0.4 0.3 0.2 0.1 0.1 0.0 0.0 128 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 24 195 699 883 919 909 858 822 1,065 1,328 Long-term debt (LDOD) 24 147 624 802 841 826 796 757 980 917 Public and publicly guaranteed 24 147 624 802 841 826 796 757 980 917 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 24 37 19 18 23 21 31 33 36 Short-term debt 0 25 38 63 60 60 41 34 52 374 of which interest arrears on LDOD 0 11 15 45 44 23 25 25 43 363 Official creditors 0 2 13 44 43 22 24 24 40 356 Private creditors 0 9 2 1 1 1 1 1 3 7 Memo: principal arrears on LDOD 0 44 23 95 96 84 96 96 130 776 Official creditors 0 17 20 81 85 72 84 83 104 746 Private creditors 0 27 4 14 11 13 13 13 26 30 Memo: export credits 0 0 63 35 48 37 39 36 45 47 TOTAL DEBT FLOWS Disbursements 2 40 121 6 15 17 16 11 1 0 Long-term debt 2 25 113 6 3 5 16 0 1 0 IMF purchases 0 15 8 0 11 11 0 10 0 0 Principal repayments 2 7 17 12 25 12 8 9 0 0 Long-term debt 2 1 8 4 12 7 7 9 0 0 IMF repurchases 0 6 10 7 13 5 1 0 0 0 Net flows on debt -1 31 107 -3 -13 25 -14 -5 0 3 of which short-term debt 0 -2 3 2 -2 21 -22 -6 0 3 Interest payments (INT) 1 3 12 4 8 7 6 4 1 0 Long-term debt 1 0 9 2 7 5 4 4 0 0 IMF charges 0 1 1 1 0 0 0 0 0 0 Short-term debt 0 2 2 1 1 2 1 0 0 0 Net transfers on debt -1 28 95 -8 -21 19 -20 -9 0 2 Total debt service paid (TDS) 3 10 29 16 33 19 14 13 1 1 Long-term debt 3 1 17 7 19 12 12 13 0 0 IMF repurchases and charges 0 7 11 8 13 5 1 0 0 0 Short-term debt (interest only) 0 2 2 1 1 2 1 0 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7 85 192 76 101 81 65 55 52 37 Net flow of long-term debt (ex. IMF) -1 24 105 2 -9 -2 9 -9 0 0 Foreign direct investment (net) 1 5 1 0 8 4 1 5 6 4 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 6 56 86 73 102 79 56 59 45 33 Memo: technical coop. grants 8 34 56 26 26 38 22 22 21 24 official net resource flows 7 81 192 75 93 78 64 50 46 33 private net resource flows 0 4 0 0 8 3 1 5 6 4 NET TRANSFERS 6 85 181 73 95 77 61 51 52 37 Interest on long-term debt 1 0 9 2 7 5 4 4 0 0 Profit remittances on FDI 0 0 2 0 0 0 0 0 0 0 Memo: official net transfers 7 80 184 73 87 73 60 46 46 33 private net transfers 0 4 -3 0 8 3 1 5 6 4 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 186 800 1,465 987 1,028 1,038 942 965 1,039 1,194 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 62 123 182 149 140 136 122 127 137 Current account balance .. -43 -89 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 94.8 317.0 .. .. .. .. .. .. .. EDT / GNI (%) 12.9 24.3 47.7 89.4 89.3 87.6 91.1 85.2 102.5 111.2 TDS / XGS (%) .. 4.9 13.2 .. .. .. .. .. .. .. INT / XGS (%) .. 1.6 5.3 .. .. .. .. .. .. .. INT / GNI (%) 0.4 0.4 0.8 0.4 0.8 0.6 0.6 0.4 0.1 0.0 RES / EDT (%) 5.8 31.7 17.6 20.6 16.2 15.3 15.9 14.8 11.9 10.3 RES / MGS (months) .. 2.2 3.4 .. .. .. .. .. .. .. Short-term / EDT (%) 0.4 12.6 5.4 7.1 6.5 6.6 4.7 4.2 4.9 28.2 Concessional / EDT (%) 62.4 30.1 73.1 82.0 81.1 81.5 83.3 82.5 69.9 62.6 Multilateral / EDT (%) 0.9 27.4 65.2 68.5 67.7 66.9 68.0 67.0 54.9 50.1 129 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 24 147 624 802 841 826 796 757 980 917 Public and publicly guaranteed 24 147 624 802 841 826 796 757 980 917 Official creditors 18 98 603 788 808 793 763 724 946 883 Multilateral 0 53 456 605 622 608 583 550 585 665 Concessional 0 42 429 591 608 596 572 540 573 653 Bilateral 18 45 147 183 185 185 180 174 361 218 Concessional 15 17 81 133 137 145 143 138 172 178 Private creditors 6 48 22 14 33 33 33 33 34 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 33 33 33 33 34 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 29 265 403 413 403 391 372 399 453 DISBURSEMENTS 2 25 113 6 3 5 16 0 1 0 Public and publicly guaranteed 2 25 113 6 3 5 16 0 1 0 Official creditors 1 25 113 6 3 5 16 0 1 0 Multilateral 0 14 95 6 3 5 16 0 1 0 Concessional 0 14 94 5 3 5 16 0 1 0 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 5 0 3 13 0 1 0 PRINCIPAL REPAYMENTS 2 1 8 4 12 7 7 9 0 0 Public and publicly guaranteed 2 1 8 4 12 7 7 9 0 0 Official creditors 1 0 7 4 12 7 7 9 0 0 Multilateral 0 0 3 4 12 6 7 7 0 0 Concessional 0 0 2 4 10 5 7 7 0 0 Bilateral 1 0 4 0 0 1 1 2 0 0 Concessional 0 0 1 0 0 1 0 2 0 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 4 4 6 6 0 0 NET FLOWS ON DEBT -1 24 105 2 -9 -2 9 -9 0 0 Public and publicly guaranteed -1 24 105 2 -9 -2 9 -9 0 0 Official creditors 0 25 106 2 -9 -1 9 -9 0 0 Multilateral 0 14 92 2 -9 -1 9 -7 0 0 Concessional 0 13 92 1 -7 0 9 -7 1 0 Bilateral 0 11 14 0 0 -1 -1 -2 0 0 Concessional 0 6 15 0 0 -1 0 -2 0 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 3 -3 -1 7 -6 1 0 130 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 1 0 9 2 7 5 4 4 0 0 Public and publicly guaranteed 1 0 9 2 7 5 4 4 0 0 Official creditors 0 0 8 2 7 5 4 4 0 0 Multilateral 0 0 5 2 6 4 3 3 0 0 Concessional 0 0 3 2 5 3 3 3 0 0 Bilateral 0 0 3 0 0 1 1 1 0 0 Concessional 0 0 2 0 0 1 1 1 0 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 2 4 3 3 3 0 0 NET TRANSFERS ON DEBT -1 24 96 0 -16 -6 4 -12 0 0 Public and publicly guaranteed -1 24 96 0 -16 -6 4 -12 0 0 Official creditors 0 25 98 0 -16 -6 4 -12 0 0 Multilateral 0 13 87 0 -15 -4 6 -9 0 0 Concessional 0 13 89 -1 -12 -3 6 -9 1 0 Bilateral 0 11 11 0 0 -2 -1 -3 0 0 Concessional 0 5 13 0 0 -2 -1 -3 0 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 1 -7 -4 4 -8 1 0 DEBT SERVICE (LTDS) 3 1 17 7 19 12 12 13 0 0 Public and publicly guaranteed 3 1 17 7 19 12 12 13 0 0 Official creditors 1 0 15 7 19 11 12 13 0 0 Multilateral 0 0 8 7 19 10 10 10 0 0 Concessional 0 0 5 6 15 8 10 10 0 0 Bilateral 1 0 7 0 0 2 1 3 0 0 Concessional 1 0 3 0 0 2 1 3 0 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 3 8 7 9 9 0 0 UNDISBURSED DEBT 13 61 236 66 46 17 20 30 31 27 Official creditors 11 61 236 66 46 17 20 30 31 27 Private creditors 2 0 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 15 59 511 724 745 741 714 678 745 832 Variable rate LDOD 0 3 0 5 5 5 5 4 13 16 Public sector LDOD 24 147 624 800 840 825 795 756 979 916 Private sector LDOD 0 0 0 1 1 1 1 1 1 1 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 5.2 5.2 6.8 Deutsche mark 19.7 1.2 0.7 0.3 0.3 0.2 0.2 .. .. .. French franc 40.0 16.9 11.0 4.8 4.4 4.1 4.0 .. .. .. Japanese yen 0.0 0.0 0.7 0.6 0.6 0.7 0.7 0.6 0.5 0.6 Pound sterling 0.5 0.7 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 7.5 2.6 2.4 2.5 2.3 2.2 2.1 2.1 2.6 U.S.dollars 1.8 35.8 43.6 58.7 59.6 60.2 61.2 61.9 51.1 59.4 Multiple currency 0.0 7.5 21.5 17.5 17.5 17.4 16.6 16.1 14.2 17.1 Special drawing rights 0.0 0.0 7.6 7.1 7.3 7.5 7.7 7.7 5.4 7.4 All other currencies 38.0 30.4 12.2 8.5 7.8 7.5 7.4 6.3 21.4 6.1 131 CENTRAL AFRICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 4 0 9 31 3 2 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 3 0 6 23 2 1 0 0 Official .. .. 3 0 6 23 2 1 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 0 3 7 1 0 0 0 Official .. .. 0 0 3 7 1 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 153 0 2 0 0 0 0 0 Memo: interest forgiven .. .. 4 0 2 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 .. .. 5 -50 36 -10 -51 -36 243 263 Net flows on debt -1 31 107 -3 -13 25 -14 -5 0 3 Net change in interest arrears .. .. -2 6 -1 -21 3 0 17 320 Interest capitalized .. .. 0 0 3 7 1 0 0 0 Debt forgiveness or reduction .. .. -153 0 -2 0 0 0 0 0 Cross-currency valuation .. .. 38 -95 -31 -18 -34 -19 46 79 Residual .. .. 15 43 79 -3 -7 -12 179 -139 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.0 0.6 1.0 0.0 0.0 0.0 0.8 0.8 0.0 0.0 Maturity (years) 35.8 12.5 37.6 0.0 0.0 0.0 39.8 39.5 0.0 0.0 Grace period (years) 7.9 4.3 10.2 0.0 0.0 0.0 10.3 10.0 0.0 0.0 Grant element (%) 62.8 39.0 77.0 0.0 0.0 0.0 80.6 80.3 0.0 0.0 Official creditors Interest (%) 1.0 0.6 1.0 0.0 0.0 0.0 0.8 0.8 0.0 0.0 Maturity (years) 47.5 12.5 37.6 0.0 0.0 0.0 39.8 39.5 0.0 0.0 Grace period (years) 9.9 4.3 10.2 0.0 0.0 0.0 10.3 10.0 0.0 0.0 Grant element (%) 79.6 39.0 77.0 0.0 0.0 0.0 80.6 80.3 0.0 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 0 0 0 28 17 0 0 Official creditors 5 38 175 0 0 0 28 17 0 0 Private creditors 2 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1 3 4 4 4 3 3 2 2 1 Principal 35 30 30 20 21 23 24 27 27 28 Interest 9 8 7 7 6 6 6 6 5 5 Official creditors Disbursements 1 3 4 4 4 3 3 2 2 1 Principal 31 30 30 20 21 23 24 27 27 28 Interest 9 8 7 7 6 6 6 6 5 5 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 17 15 16 5 5 5 5 5 4 4 Interest 4 3 3 2 2 2 2 2 2 1 Multilateral creditors Disbursements 1 3 4 4 4 3 3 2 2 1 Principal 14 14 15 16 16 17 19 22 23 23 Interest 5 5 5 4 4 4 4 4 4 4 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4 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 4 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 132 CHAD (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 35 284 528 1,027 1,096 1,145 1,119 1,108 1,285 1,499 Long-term debt (LDOD) 32 259 468 939 1,008 1,048 1,012 995 1,153 1,371 Public and publicly guaranteed 32 259 468 939 1,008 1,048 1,012 995 1,153 1,371 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 2 14 30 61 64 69 78 89 107 106 Short-term debt 0 11 30 27 23 28 29 23 26 23 of which interest arrears on LDOD 0 6 6 8 9 12 14 10 12 14 Official creditors 0 4 4 8 9 12 14 10 12 13 Private creditors 0 2 2 0 0 0 0 0 1 1 Memo: principal arrears on LDOD 2 31 16 32 42 49 57 51 62 60 Official creditors 0 12 14 32 40 47 54 49 58 57 Private creditors 2 20 3 0 2 2 3 3 3 3 Memo: export credits 0 0 52 77 22 20 18 17 21 19 TOTAL DEBT FLOWS Disbursements 10 5 112 92 54 98 47 65 115 139 Long-term debt 6 5 104 80 43 86 33 48 98 132 IMF purchases 4 0 8 11 11 11 14 17 17 7 Principal repayments 3 5 7 24 23 21 16 17 16 34 Long-term debt 3 3 3 12 12 16 15 16 11 20 IMF repurchases 0 3 4 11 11 5 1 1 5 13 Net flows on debt 7 -8 107 77 27 78 29 46 100 101 of which short-term debt 0 -8 2 9 -5 2 -2 -2 1 -4 Interest payments (INT) 0 1 5 12 12 11 10 6 10 13 Long-term debt 0 0 3 10 11 10 9 5 9 12 IMF charges 0 1 0 1 1 0 0 0 0 1 Short-term debt 0 0 2 1 1 1 1 1 0 0 Net transfers on debt 7 -9 102 65 15 67 19 40 90 88 Total debt service paid (TDS) 3 6 12 35 35 32 26 23 25 46 Long-term debt 3 3 6 22 22 27 24 21 20 32 IMF repurchases and charges 0 3 4 12 12 5 1 2 5 14 Short-term debt (interest only) 0 0 2 1 1 1 1 1 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 15 24 256 219 137 156 195 580 1,216 1,060 Net flow of long-term debt (ex. IMF) 3 3 100 68 31 70 18 33 87 111 Foreign direct investment (net) 1 0 9 44 22 25 116 453 1,030 837 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 11 22 147 107 83 61 61 94 100 112 Memo: technical coop. grants 10 12 58 46 44 40 32 29 34 42 official net resource flows 13 24 248 175 114 132 79 127 187 223 private net resource flows 3 0 9 44 22 24 115 452 1,029 837 NET TRANSFERS 15 24 253 209 126 146 186 574 1,207 1,048 Interest on long-term debt 0 0 3 10 11 10 9 5 9 12 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: official net transfers 12 24 244 165 103 123 71 122 178 211 private net transfers 2 0 9 44 22 24 115 452 1,029 837 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 470 1,038 1,721 1,479 1,726 1,520 1,371 1,646 1,977 2,335 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 12 132 139 123 98 114 125 223 192 Current account balance .. 12 -46 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 398.3 192.7 .. .. .. .. .. .. .. EDT / GNI (%) 7.5 27.4 30.7 69.5 63.5 75.3 81.7 67.3 65.0 64.2 TDS / XGS (%) .. 8.4 4.4 .. .. .. .. .. .. .. INT / XGS (%) .. 0.8 1.9 .. .. .. .. .. .. .. INT / GNI (%) 0.1 0.1 0.3 0.8 0.7 0.7 0.7 0.4 0.5 0.5 RES / EDT (%) 6.6 4.1 25.0 13.5 11.3 8.6 10.2 11.3 17.3 12.8 RES / MGS (months) .. 1.7 3.1 .. .. .. .. .. .. .. Short-term / EDT (%) 0.6 4.0 5.6 2.6 2.1 2.5 2.6 2.1 2.0 1.5 Concessional / EDT (%) 68.5 60.2 76.9 78.6 80.0 81.3 81.0 81.1 82.1 83.2 Multilateral / EDT (%) 4.4 26.2 63.6 73.2 74.6 75.9 75.4 76.3 78.0 81.7 133 CHAD (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 32 259 468 939 1,008 1,048 1,012 995 1,153 1,371 Public and publicly guaranteed 32 259 468 939 1,008 1,048 1,012 995 1,153 1,371 Official creditors 25 205 459 922 991 1,033 997 982 1,140 1,357 Multilateral 2 75 336 752 818 869 843 845 1,003 1,225 Concessional 2 75 327 713 781 838 818 812 968 1,167 Bilateral 23 131 123 170 174 163 154 137 137 133 Concessional 23 97 80 94 95 93 89 87 88 81 Private creditors 8 54 9 17 17 16 15 14 13 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 16 15 14 13 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 9 9 31 IDA 0 36 186 457 488 527 515 516 623 773 DISBURSEMENTS 6 5 104 80 43 86 33 48 98 132 Public and publicly guaranteed 6 5 104 80 43 86 33 48 98 132 Official creditors 3 5 104 80 43 86 33 48 98 132 Multilateral 0 5 72 74 43 83 33 48 98 132 Concessional 0 5 70 74 43 83 33 39 97 110 Bilateral 2 0 32 6 0 3 0 0 0 0 Concessional 2 0 25 6 0 3 0 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 9 0 22 IDA 0 0 48 49 18 53 18 26 72 94 PRINCIPAL REPAYMENTS 3 3 3 12 12 16 15 16 11 20 Public and publicly guaranteed 3 3 3 12 12 16 15 16 11 20 Official creditors 1 3 3 12 12 15 15 15 10 20 Multilateral 0 2 3 10 11 12 11 9 7 11 Concessional 0 2 2 6 6 10 9 8 6 7 Bilateral 1 1 0 3 1 3 4 6 4 10 Concessional 1 1 0 0 0 2 3 6 2 6 Private creditors 1 0 1 0 0 1 1 0 1 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 1 0 0 1 1 0 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 0 0 0 0 0 0 0 0 IDA 0 0 1 2 3 5 4 5 2 2 NET FLOWS ON DEBT 3 3 100 68 31 70 18 33 87 111 Public and publicly guaranteed 3 3 100 68 31 70 18 33 87 111 Official creditors 1 3 101 68 31 71 18 33 87 111 Multilateral 0 3 69 64 32 71 22 39 91 121 Concessional 0 3 68 68 36 73 24 32 92 103 Bilateral 1 -1 32 4 -1 0 -4 -6 -4 -10 Concessional 1 -1 25 6 0 1 -3 -6 -2 -6 Private creditors 2 0 -1 0 0 -1 -1 0 -1 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 0 -1 0 0 -1 -1 0 -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 0 0 0 0 0 9 0 22 IDA 0 0 48 47 15 48 13 20 70 92 134 CHAD (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 0 3 10 11 10 9 5 9 12 Public and publicly guaranteed 0 0 3 10 11 10 9 5 9 12 Official creditors 0 0 3 10 11 10 9 5 9 12 Multilateral 0 0 2 7 8 7 6 5 8 9 Concessional 0 0 2 5 6 6 5 4 7 8 Bilateral 0 0 1 3 3 3 3 0 1 3 Concessional 0 0 1 0 0 0 0 0 1 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 1 0 0 IDA 0 0 1 3 3 3 3 4 3 4 NET TRANSFERS ON DEBT 3 2 97 58 20 60 9 27 78 100 Public and publicly guaranteed 3 2 97 58 20 60 9 27 78 100 Official creditors 1 2 98 58 20 61 10 28 79 100 Multilateral 0 3 67 58 24 64 16 34 83 112 Concessional 0 3 66 63 31 67 19 28 85 95 Bilateral 1 -1 31 0 -4 -3 -7 -7 -4 -12 Concessional 0 -1 24 6 0 1 -4 -7 -3 -7 Private creditors 2 0 -1 0 0 -2 -1 -1 -1 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 0 -1 0 0 -2 -1 -1 -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 0 0 0 0 0 9 0 21 IDA 0 0 46 43 11 45 10 16 67 88 DEBT SERVICE (LTDS) 3 3 6 22 22 27 24 21 20 32 Public and publicly guaranteed 3 3 6 22 22 27 24 21 20 32 Official creditors 2 3 6 22 22 25 23 21 19 32 Multilateral 0 2 5 16 19 19 17 14 14 20 Concessional 0 2 4 11 12 16 14 11 13 15 Bilateral 2 1 1 6 4 6 7 7 4 12 Concessional 2 1 1 0 0 2 4 7 3 7 Private creditors 1 0 1 0 0 2 1 1 1 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 1 0 0 2 1 1 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 0 0 0 0 0 1 0 0 IDA 0 0 2 5 7 8 8 9 5 7 UNDISBURSED DEBT 18 94 375 293 294 199 324 401 429 476 Official creditors 11 76 375 293 294 199 324 401 429 476 Private creditors 7 18 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 24 171 407 807 876 931 907 899 1,055 1,248 Variable rate LDOD 0 0 0 0 0 0 0 9 9 31 Public sector LDOD 32 259 468 939 1,008 1,048 1,012 995 1,153 1,371 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 4.2 Deutsche mark 10.7 2.7 1.5 0.0 0.0 0.0 0.0 .. .. .. French franc 35.2 14.5 9.0 5.6 5.7 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 48.6 56.5 55.6 57.1 58.0 59.3 60.7 63.3 Multiple currency 3.7 9.6 25.5 23.2 23.5 22.4 21.8 21.4 20.5 19.0 Special drawing rights 0.0 0.0 0.0 0.2 0.2 0.2 0.2 0.1 0.1 0.1 All other currencies 45.0 54.1 15.4 14.5 15.0 15.5 15.4 14.2 14.2 13.3 135 CHAD (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 8 10 3 0 0 5 1 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 3 7 2 0 0 3 1 0 Official .. .. 2 7 2 0 0 3 1 0 Private .. .. 1 0 0 0 0 0 0 0 Interest rescheduled .. .. 1 1 1 0 0 2 0 0 Official .. .. 1 1 1 0 0 2 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 12 2 2 0 0 14 12 10 Memo: interest forgiven .. .. 0 1 1 0 0 7 4 3 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 .. .. 126 28 69 50 -26 -12 178 214 Net flows on debt 7 -8 107 77 27 78 29 46 100 101 Net change in interest arrears .. .. -1 -1 1 3 2 -4 2 1 Interest capitalized .. .. 1 1 1 0 0 2 0 0 Debt forgiveness or reduction .. .. -12 -2 -2 0 0 -14 -12 -10 Cross-currency valuation .. .. 8 -130 -76 -24 -43 -24 62 92 Residual .. .. 22 83 117 -7 -15 -18 26 30 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.7 0.0 1.7 0.7 0.4 1.0 0.7 2.2 1.1 1.2 Maturity (years) 8.3 0.0 30.3 47.3 39.8 40.4 40.5 32.2 34.9 37.7 Grace period (years) 1.0 0.0 9.2 10.4 7.3 9.7 10.1 8.8 8.9 9.4 Grant element (%) 14.3 0.0 66.4 83.2 80.8 77.7 80.7 63.7 73.6 74.3 Official creditors Interest (%) 3.7 0.0 1.7 0.7 0.4 1.0 0.7 2.2 1.1 1.2 Maturity (years) 10.1 0.0 30.3 47.3 39.8 40.4 40.5 32.2 34.9 37.7 Grace period (years) 1.8 0.0 9.2 10.4 7.3 9.7 10.1 8.8 8.9 9.4 Grant element (%) 25.5 0.0 66.4 83.2 80.8 77.7 80.7 63.7 73.6 74.3 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 75 32 67 178 152 102 143 Official creditors 2 0 85 75 32 67 178 152 102 143 Private creditors 8 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 85 107 86 65 50 34 23 14 8 2 Principal 35 38 41 45 45 46 51 53 55 54 Interest 16 17 17 16 16 15 15 14 13 13 Official creditors Disbursements 85 107 86 65 50 34 23 14 8 2 Principal 34 37 40 43 43 45 50 53 55 54 Interest 16 17 16 16 16 15 15 14 13 13 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 10 10 8 8 8 8 7 7 7 6 Interest 4 4 4 4 3 3 3 2 2 2 Multilateral creditors Disbursements 85 107 86 65 50 34 23 14 8 2 Principal 23 27 32 35 35 37 43 46 48 48 Interest 12 12 13 13 12 12 12 12 11 11 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 1 1 1 1 1 1 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 1 1 1 1 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 136 CHILE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2,977 12,081 19,226 27,044 33,695 34,815 37,289 38,631 41,219 43,231 Long-term debt (LDOD) 2,567 9,398 14,687 21,522 28,565 30,498 31,117 33,341 35,396 35,727 Public and publicly guaranteed 2,066 4,705 10,425 4,367 5,005 5,655 5,255 5,581 6,800 8,053 Private nonguaranteed 501 4,693 4,263 17,155 23,560 24,843 25,861 27,760 28,596 27,674 Use of IMF credit 1 123 1,156 0 0 0 0 0 0 0 Short-term debt 409 2,560 3,382 5,522 5,130 4,317 6,172 5,290 5,823 7,504 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 1,876 1,100 1,059 867 752 718 836 TOTAL DEBT FLOWS Disbursements 655 3,551 2,253 6,217 6,784 5,879 4,979 6,024 7,092 7,009 Long-term debt 655 3,551 2,253 6,217 6,784 5,879 4,979 6,024 7,092 7,009 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 254 1,513 980 2,857 2,345 3,351 3,941 4,684 6,011 6,549 Long-term debt 207 1,462 771 2,857 2,345 3,351 3,941 4,684 6,011 6,549 IMF repurchases 47 52 208 0 0 0 0 0 0 0 Net flows on debt 400 2,963 1,682 1,837 4,047 1,716 2,893 458 1,614 2,141 of which short-term debt 0 925 409 -1,523 -392 -813 1,855 -882 533 1,681 Interest payments (INT) 104 1,193 1,792 1,134 1,418 1,578 2,236 1,964 1,718 1,889 Long-term debt 104 918 1,364 1,070 1,326 1,501 2,082 1,809 1,592 1,689 IMF charges 0 12 118 0 0 0 0 0 0 0 Short-term debt 0 262 310 64 92 76 154 154 126 200 Net transfers on debt 296 1,771 -110 703 2,630 138 657 -1,506 -104 252 Total debt service paid (TDS) 359 2,706 2,772 3,991 3,762 4,928 6,177 6,648 7,729 8,438 Long-term debt 311 2,380 2,135 3,927 3,671 4,852 6,023 6,494 7,603 8,239 IMF repurchases and charges 47 64 326 0 0 0 0 0 0 0 Short-term debt (interest only) 0 262 310 64 92 76 154 154 126 200 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 381 2,312 2,583 10,388 9,674 11,829 5,489 5,346 2,671 3,776 Net flow of long-term debt (ex. IMF) 448 2,090 1,481 3,360 4,439 2,529 1,038 1,340 1,081 460 Foreign direct investment (net) -79 213 661 5,271 4,628 8,761 4,860 4,200 1,888 2,982 Portfolio equity flows 0 0 367 1,720 580 524 -427 -217 -320 312 Grants (excluding technical coop.) 12 9 73 36 26 15 18 23 23 23 Memo: technical coop. grants 19 37 66 78 73 63 56 58 49 60 official net resource flows 67 -136 367 -338 -61 -68 -101 -97 -288 -67 private net resource flows 314 2,447 2,216 10,726 9,735 11,897 5,590 5,443 2,960 3,844 NET TRANSFERS 277 1,307 832 7,132 6,947 8,860 868 1,286 -1,368 -923 Interest on long-term debt 104 918 1,364 1,070 1,326 1,501 2,082 1,809 1,592 1,689 Profit remittances on FDI 0 86 387 2,185 1,401 1,467 2,539 2,250 2,447 3,010 Memo: official net transfers 28 -216 -16 -498 -180 -200 -239 -218 -390 -144 private net transfers 249 1,523 848 7,631 7,126 9,060 1,108 1,504 -978 -780 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 8,513 26,544 28,564 72,548 71,088 71,152 72,699 63,693 64,830 69,135 Exports of goods, serv. & inc. (XGS) .. 6,276 10,705 22,932 21,471 21,944 24,891 23,868 23,555 26,964 Worker remit. & comp. of employees 0 0 0 0 0 0 13 12 12 13 Imports of goods & services (MGS) .. 8,360 11,387 27,112 25,852 22,487 26,346 25,395 24,870 27,996 International reserves (RES) 392 4,128 6,784 18,112 16,221 14,971 15,055 14,399 15,344 15,843 Current account balance .. -1,971 -485 -3,660 -3,918 99 -898 -1,100 -885 -594 4. DEBT INDICATORS EDT / XGS (%) .. 192.5 179.6 117.9 156.9 158.7 149.8 161.8 175.0 160.3 EDT / GNI (%) 35.0 45.5 67.3 37.3 47.4 48.9 51.3 60.7 63.6 62.5 TDS / XGS (%) .. 43.1 25.9 17.4 17.5 22.5 24.8 27.9 32.8 31.3 INT / XGS (%) .. 19.0 16.7 4.9 6.6 7.2 9.0 8.2 7.3 7.0 INT / GNI (%) 1.2 4.5 6.3 1.6 2.0 2.2 3.1 3.1 2.6 2.7 RES / EDT (%) 13.2 34.2 35.3 67.0 48.1 43.0 40.4 37.3 37.2 36.6 RES / MGS (months) .. 5.9 7.1 8.0 7.5 8.0 6.9 6.8 7.4 6.8 Short-term / EDT (%) 13.7 21.2 17.6 20.4 15.2 12.4 16.6 13.7 14.1 17.4 Concessional / EDT (%) 22.8 5.6 1.9 1.3 1.2 1.1 1.0 0.9 0.8 0.8 Multilateral / EDT (%) 5.9 2.9 21.5 5.9 4.5 4.3 3.8 3.4 2.6 2.4 137 CHILE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 2,567 9,398 14,687 21,522 28,565 30,498 31,117 33,341 35,396 35,727 Public and publicly guaranteed 2,066 4,705 10,425 4,367 5,005 5,655 5,255 5,581 6,800 8,053 Official creditors 1,179 1,360 5,182 2,163 2,151 2,095 1,915 1,746 1,477 1,437 Multilateral 176 351 4,143 1,587 1,533 1,497 1,406 1,317 1,088 1,049 Concessional 20 50 33 19 17 21 13 11 9 10 Bilateral 1,003 1,009 1,039 576 619 598 509 429 389 388 Concessional 658 628 334 331 383 377 348 318 300 319 Private creditors 887 3,345 5,242 2,205 2,854 3,559 3,341 3,835 5,323 6,615 Bonds 60 106 39 0 0 0 0 650 2,390 4,254 Commercial banks 291 2,420 4,747 2,132 2,784 3,490 3,273 3,182 2,906 2,335 Other private 536 818 457 73 70 69 68 4 27 26 Private nonguaranteed 501 4,693 4,263 17,155 23,560 24,843 25,861 27,760 28,596 27,674 Bonds 0 0 0 3,764 4,466 5,677 6,339 7,173 7,174 7,752 Commercial banks and other 501 4,693 4,263 13,391 19,094 19,167 19,522 20,587 21,422 19,923 Memo: IBRD 111 163 1,860 980 945 877 808 727 556 422 IDA 19 21 14 9 9 8 7 7 6 5 DISBURSEMENTS 655 3,551 2,253 6,217 6,784 5,879 4,979 6,024 7,092 7,009 Public and publicly guaranteed 407 857 708 685 1,029 1,092 382 1,295 2,404 2,248 Official creditors 130 62 650 167 149 164 161 122 126 156 Multilateral 34 46 583 108 94 137 113 108 126 141 Concessional 0 3 0 0 0 0 0 0 0 0 Bilateral 97 15 67 59 55 27 47 14 1 15 Concessional 44 3 0 59 55 27 17 14 1 8 Private creditors 277 796 58 519 880 927 221 1,174 2,277 2,092 Bonds 0 55 0 0 0 0 0 650 1,708 1,800 Commercial banks 119 568 37 458 880 927 221 524 544 292 Other private 158 172 20 60 0 0 0 0 25 0 Private nonguaranteed 247 2,694 1,545 5,532 5,755 4,788 4,597 4,729 4,688 4,761 Bonds 0 0 0 1,050 863 873 672 1,281 0 2,070 Commercial banks and other 247 2,694 1,545 4,482 4,892 3,914 3,925 3,448 4,688 2,691 Memo: IBRD 27 14 251 85 70 43 48 39 30 37 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 207 1,462 771 2,857 2,345 3,351 3,941 4,684 6,011 6,549 Public and publicly guaranteed 166 891 500 995 441 469 760 931 1,270 1,117 Official creditors 75 206 356 541 236 247 280 242 438 246 Multilateral 15 15 263 476 173 177 177 178 376 199 Concessional 0 0 2 2 2 2 2 2 2 3 Bilateral 61 191 93 64 63 71 103 64 62 47 Concessional 21 69 32 26 30 33 34 31 30 13 Private creditors 90 685 144 454 205 221 480 688 832 870 Bonds 5 3 7 0 0 0 0 0 0 0 Commercial banks 32 464 32 447 201 221 479 624 831 869 Other private 54 217 105 7 3 1 1 64 1 1 Private nonguaranteed 41 571 271 1,862 1,904 2,882 3,181 3,754 4,741 5,433 Bonds 0 0 0 11 161 11 0 404 94 542 Commercial banks and other 41 571 271 1,851 1,743 2,871 3,181 3,350 4,647 4,891 Memo: IBRD 10 9 119 109 105 111 115 119 202 173 IDA 0 0 1 1 1 1 1 1 1 1 NET FLOWS ON DEBT 448 2,090 1,481 3,360 4,439 2,529 1,038 1,340 1,081 460 Public and publicly guaranteed 242 -34 208 -309 588 623 -378 365 1,134 1,131 Official creditors 55 -145 294 -374 -87 -83 -119 -121 -311 -90 Multilateral 19 31 319 -369 -79 -39 -64 -71 -251 -58 Concessional 0 3 -2 -2 -2 -2 -2 -2 -2 -3 Bilateral 36 -176 -25 -5 -9 -44 -56 -50 -61 -32 Concessional 23 -66 -32 33 24 -6 -16 -17 -29 -5 Private creditors 187 111 -86 65 675 706 -259 485 1,445 1,222 Bonds -5 52 -7 0 0 0 0 650 1,708 1,800 Commercial banks 87 104 5 11 679 707 -258 -101 -287 -577 Other private 105 -45 -85 53 -3 -1 -1 -64 24 -1 Private nonguaranteed 206 2,123 1,274 3,669 3,851 1,906 1,416 976 -53 -672 Bonds 0 0 0 1,039 702 862 672 877 -94 1,528 Commercial banks and other 206 2,123 1,274 2,630 3,149 1,044 744 99 41 -2,200 Memo: IBRD 18 5 132 -25 -35 -67 -67 -80 -172 -135 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1 138 CHILE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 104 918 1,364 1,070 1,326 1,501 2,082 1,809 1,592 1,689 Public and publicly guaranteed 78 483 1,112 292 254 311 377 299 213 364 Official creditors 40 80 384 161 119 132 139 121 101 76 Multilateral 9 26 313 136 99 109 112 105 88 65 Concessional 0 1 1 0 0 0 0 0 0 0 Bilateral 31 54 71 24 21 23 27 16 14 12 Concessional 12 22 9 6 6 8 9 6 6 6 Private creditors 39 403 729 131 135 180 239 178 112 287 Bonds 2 5 2 0 0 0 0 0 0 192 Commercial banks 19 325 688 130 130 175 234 175 112 95 Other private 17 73 39 1 4 4 5 3 0 1 Private nonguaranteed 26 435 252 778 1,072 1,190 1,704 1,510 1,379 1,326 Bonds 0 0 0 192 267 321 440 499 552 540 Commercial banks and other 26 435 252 587 806 869 1,265 1,011 826 786 Memo: IBRD 6 16 130 68 58 70 70 63 50 35 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 343 1,171 118 2,290 3,113 1,027 -1,044 -469 -511 -1,230 Public and publicly guaranteed 163 -517 -904 -601 335 312 -755 66 920 768 Official creditors 15 -225 -90 -535 -206 -215 -258 -241 -413 -167 Multilateral 10 5 7 -505 -177 -149 -176 -175 -338 -123 Concessional 0 2 -3 -2 -2 -2 -2 -2 -2 -3 Bilateral 5 -230 -96 -30 -29 -67 -82 -66 -74 -44 Concessional 11 -88 -41 27 19 -14 -25 -24 -35 -11 Private creditors 148 -292 -815 -67 541 527 -498 307 1,333 935 Bonds -7 47 -8 0 0 0 0 650 1,708 1,608 Commercial banks 68 -221 -683 -119 548 531 -492 -276 -399 -672 Other private 87 -118 -123 52 -8 -5 -6 -67 24 -2 Private nonguaranteed 180 1,688 1,022 2,891 2,779 716 -288 -535 -1,432 -1,997 Bonds 0 0 0 847 435 542 232 378 -646 988 Commercial banks and other 180 1,688 1,022 2,043 2,343 174 -520 -913 -785 -2,985 Memo: IBRD 11 -11 2 -93 -93 -138 -137 -143 -222 -170 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 311 2,380 2,135 3,927 3,671 4,852 6,023 6,494 7,603 8,239 Public and publicly guaranteed 244 1,374 1,612 1,286 694 780 1,137 1,230 1,483 1,480 Official creditors 115 287 740 701 355 379 418 363 539 323 Multilateral 24 41 576 613 271 286 289 283 464 264 Concessional 0 1 3 2 2 2 2 2 2 3 Bilateral 91 245 164 89 84 93 129 79 75 59 Concessional 33 90 41 32 36 41 43 38 36 20 Private creditors 129 1,088 872 585 339 401 719 867 944 1,157 Bonds 7 8 8 0 0 0 0 0 0 192 Commercial banks 51 789 720 578 332 396 713 800 943 964 Other private 71 290 144 8 8 5 6 67 1 2 Private nonguaranteed 67 1,006 523 2,641 2,976 4,072 4,885 5,264 6,120 6,759 Bonds 0 0 0 203 428 332 440 903 646 1,082 Commercial banks and other 67 1,006 523 2,438 2,549 3,740 4,446 4,361 5,473 5,677 Memo: IBRD 16 25 249 178 163 181 185 182 252 208 IDA 0 0 1 1 1 1 1 1 1 1 UNDISBURSED DEBT 469 432 1,550 834 511 621 487 779 1,441 1,291 Official creditors 180 186 1,364 568 214 481 298 639 706 606 Private creditors 288 246 186 266 297 140 190 140 735 684 Memorandum items Concessional LDOD 678 678 367 350 400 399 361 329 309 329 Variable rate LDOD 501 7,104 11,124 20,425 27,471 28,686 29,426 31,235 31,741 30,515 Public sector LDOD 1,978 4,587 10,421 4,367 4,865 5,515 5,175 5,501 6,719 8,026 Private sector LDOD 588 4,811 4,267 17,155 23,700 24,983 25,942 27,840 28,676 27,701 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 1.5 6.0 6.1 Deutsche mark 5.6 5.9 4.7 2.0 1.9 1.3 1.2 .. .. .. French franc 2.1 6.3 1.1 0.8 0.5 0.4 0.3 .. .. .. Japanese yen 0.0 1.8 8.2 7.2 6.9 6.5 5.5 3.9 2.8 2.0 Pound sterling 7.4 1.0 3.4 0.4 0.3 0.3 0.2 0.2 0.1 0.1 Swiss franc 0.9 0.4 0.6 0.2 0.2 0.1 0.1 0.0 0.0 0.0 U.S.dollars 75.1 74.6 40.2 54.9 79.4 83.2 85.5 89.1 89.0 90.2 Multiple currency 6.7 7.0 39.4 34.2 10.6 8.1 7.0 5.3 2.0 1.6 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 2.2 3.2 2.4 0.3 0.2 0.2 0.1 0.0 0.0 0.0 139 CHILE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 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 .. .. 1,193 -415 6,651 1,120 2,474 1,342 2,588 2,012 Net flows on debt 400 2,963 1,682 1,837 4,047 1,716 2,893 458 1,614 2,141 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 0 0 0 0 0 0 0 Cross-currency valuation .. .. 508 142 382 29 -61 -82 25 289 Residual .. .. 104 -2,395 2,222 -625 -359 966 949 -417 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.8 13.9 7.8 6.2 6.0 6.9 7.0 5.9 4.3 4.5 Maturity (years) 12.4 8.4 17.9 6.3 5.4 12.3 6.3 12.8 6.5 9.4 Grace period (years) 3.5 3.7 4.2 3.9 2.6 8.1 3.0 7.0 5.6 8.4 Grant element (%) 15.6 -18.0 12.2 13.7 11.6 18.5 9.8 20.6 21.7 28.8 Official creditors Interest (%) 6.5 8.7 7.7 1.0 0.0 6.6 1.0 6.8 3.6 1.6 Maturity (years) 21.0 15.1 18.8 17.0 0.0 16.9 17.0 24.6 10.9 19.6 Grace period (years) 6.7 3.6 4.3 1.5 0.0 4.7 1.5 5.6 3.1 5.3 Grant element (%) 24.4 6.0 13.1 49.1 0.0 19.8 49.1 22.4 26.3 48.2 Private creditors Interest (%) 6.9 14.4 9.3 6.3 6.0 7.0 7.0 5.6 4.3 4.6 Maturity (years) 11.1 7.7 7.6 6.1 5.4 9.9 6.3 7.9 6.0 9.1 Grace period (years) 3.0 3.7 2.3 3.9 2.6 9.9 3.0 7.6 5.8 8.4 Grant element (%) 14.3 -20.4 1.7 13.3 11.6 17.9 9.7 19.8 21.2 28.4 Memorandum items Commitments 361 835 1,049 711 907 1,249 324 1,592 3,177 2,093 Official creditors 46 74 967 9 0 431 1 467 297 51 Private creditors 314 761 82 702 907 818 323 1,125 2,880 2,041 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 606 375 179 67 30 16 10 5 1 0 Principal 5,278 5,648 5,540 3,454 2,936 2,222 1,989 1,123 4,701 2,433 Interest 1,607 1,390 1,220 1,030 822 701 617 513 915 218 Official creditors Disbursements 186 196 100 61 30 16 10 5 1 0 Principal 247 225 155 145 141 133 156 134 88 83 Interest 65 61 57 53 48 42 37 32 28 25 Bilateral creditors Disbursements 22 17 11 7 4 2 1 1 1 0 Principal 99 49 33 28 28 27 27 14 14 15 Interest 7 6 5 5 4 4 3 3 3 2 Multilateral creditors Disbursements 164 179 89 55 27 14 9 4 1 0 Principal 148 176 121 117 113 106 129 120 74 68 Interest 58 55 52 48 43 39 34 29 26 23 Private creditors Disbursements 420 179 80 5 0 0 0 0 0 0 Principal 5,031 5,423 5,386 3,309 2,795 2,088 1,834 989 4,614 2,351 Interest 1,541 1,330 1,163 978 775 659 580 481 886 193 Commercial banks Disbursements 420 179 80 5 0 0 0 0 0 0 Principal 489 332 981 150 168 826 15 8 8 8 Interest 89 84 82 64 63 32 3 2 2 2 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4,542 5,091 4,405 3,159 2,627 1,262 1,819 982 4,606 2,343 Interest 1,453 1,246 1,081 914 712 627 577 479 884 192 140 CHINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 55,301 146,697 144,007 152,085 145,729 170,130 168,337 193,567 Long-term debt (LDOD) .. .. 45,515 115,233 126,667 136,905 132,649 128,520 120,452 120,600 Public and publicly guaranteed * .. .. 45,515 112,821 99,424 99,217 94,860 91,776 88,613 85,570 Private nonguaranteed .. .. 0 2,412 27,243 37,688 37,789 36,744 31,839 35,030 Use of IMF credit 0 0 469 0 0 0 0 0 0 0 Short-term debt .. .. 9,317 31,464 17,340 15,180 13,080 41,610 47,885 72,967 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 31,951 12,650 13,117 12,621 11,863 13,381 15,286 TOTAL DEBT FLOWS Disbursements .. .. 9,665 23,976 11,148 20,384 16,777 14,781 19,058 25,485 Long-term debt .. .. 9,665 23,976 11,148 20,384 16,777 14,781 19,058 25,485 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments .. .. 3,809 11,526 11,209 19,835 19,925 16,643 24,715 30,356 Long-term debt .. .. 3,319 11,526 11,209 19,835 19,925 16,643 24,715 30,356 IMF repurchases 0 0 490 0 0 0 0 0 0 0 Net flows on debt .. .. 8,267 18,506 -14,185 -1,611 -5,248 -33 618 13,538 of which short-term debt .. .. 2,410 6,057 -14,124 -2,160 -2,100 1,828 6,275 18,409 Interest payments (INT) .. .. 3,248 6,918 7,226 7,028 7,167 7,655 5,908 6,718 Long-term debt .. .. 2,534 5,553 5,575 5,887 5,999 6,160 4,232 4,603 IMF charges 0 0 65 0 0 0 0 0 0 0 Short-term debt .. .. 649 1,365 1,651 1,140 1,168 1,495 1,677 2,115 Net transfers on debt .. .. 5,018 11,588 -21,411 -8,638 -12,415 -7,688 -5,290 6,821 Total debt service paid (TDS) .. .. 7,057 18,445 18,435 26,862 27,092 24,298 30,623 37,073 Long-term debt .. .. 5,853 17,080 16,784 25,722 25,924 22,803 28,946 34,958 IMF repurchases and charges 0 0 555 0 0 0 0 0 0 0 Short-term debt (interest only) .. .. 649 1,365 1,651 1,140 1,168 1,495 1,677 2,115 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 10,082 62,609 44,795 40,289 42,468 43,485 46,214 56,695 Net flow of long-term debt (ex. IMF) .. .. 6,346 12,449 -61 549 -3,148 -1,861 -5,657 -4,871 Foreign direct investment (net) .. .. 3,487 44,237 43,751 38,753 38,399 44,241 49,308 53,505 Portfolio equity flows .. .. 0 5,657 765 612 6,912 849 2,249 7,729 Grants (excluding technical coop.) .. .. 249 266 340 375 305 256 314 332 Memo: technical coop. grants .. .. 384 466 512 560 541 516 568 791 official net resource flows .. .. 1,975 4,581 2,627 3,762 1,825 2,412 -893 -2,760 private net resource flows .. .. 8,107 58,028 42,167 36,527 40,643 41,073 47,107 59,455 NET TRANSFERS .. .. 7,502 43,745 23,181 18,363 16,271 15,836 24,159 34,740 Interest on long-term debt .. .. 2,534 5,553 5,575 5,887 5,999 6,160 4,232 4,603 Profit remittances on FDI .. .. 46 13,311 16,039 16,039 20,198 21,489 17,823 17,353 Memo: official net transfers .. .. 1,444 2,795 815 1,827 -563 -163 -2,561 -4,364 private net transfers .. .. 6,058 40,949 22,366 16,536 16,833 15,999 26,720 39,103 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 355,609 887,240 929,657 976,886 1,066,076 1,156,542 1,256,055 1,409,162 Exports of goods, serv. & inc. (XGS) .. .. 60,515 217,372 213,255 229,678 292,668 309,709 375,419 504,441 Worker remit. & comp. of employees .. .. 124 4,589 344 530 758 1,209 2,353 4,625 Imports of goods & services (MGS) .. .. 48,668 181,130 185,815 213,123 277,904 299,888 351,302 472,857 International reserves (RES) .. .. 34,476 146,448 152,843 161,414 171,763 220,057 297,739 416,199 Current account balance .. .. 11,997 36,963 31,472 21,115 20,518 17,401 35,422 45,875 4. DEBT INDICATORS EDT / XGS (%) .. .. 91.4 67.5 67.5 66.2 49.8 54.9 44.8 38.4 EDT / GNI (%) .. .. 15.6 16.5 15.5 15.6 13.7 14.7 13.4 13.7 TDS / XGS (%) .. .. 11.7 8.5 8.6 11.7 9.3 7.8 8.2 7.3 INT / XGS (%) .. .. 5.4 3.2 3.4 3.1 2.4 2.5 1.6 1.3 INT / GNI (%) .. .. 0.9 0.8 0.8 0.7 0.7 0.7 0.5 0.5 RES / EDT (%) .. .. 62.3 99.8 106.1 106.1 117.9 129.3 176.9 215.0 RES / MGS (months) .. .. 8.5 9.7 9.9 9.1 7.4 8.8 10.2 10.6 Short-term / EDT (%) .. .. 16.8 21.4 12.0 10.0 9.0 24.5 28.4 37.7 Concessional / EDT (%) .. .. 17.6 12.3 20.6 21.6 20.7 17.3 17.8 16.8 Multilateral / EDT (%) .. .. 11.1 12.9 15.5 15.7 17.7 15.8 16.3 13.6 * Includes central government debt, other public sector which is not guaranteed, and private sector debt which is guaranteed by a public entity. 141 CHINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 45,515 115,233 126,667 136,905 132,649 128,520 120,452 120,600 Public and publicly guaranteed .. .. 45,515 112,821 99,424 99,217 94,860 91,776 88,613 85,570 Official creditors .. .. 14,514 39,755 45,146 50,444 50,390 50,564 50,821 51,456 Multilateral .. .. 6,111 18,973 22,283 23,856 25,811 26,861 27,421 26,307 Concessional .. .. 3,119 7,954 8,945 9,173 8,821 8,693 9,457 10,350 Bilateral .. .. 8,403 20,782 22,862 26,588 24,579 23,703 23,400 25,149 Concessional .. .. 6,599 10,147 20,698 23,608 21,394 20,794 20,465 22,220 Private creditors .. .. 31,001 73,066 54,278 48,774 44,470 41,212 37,792 34,115 Bonds .. .. 5,425 12,616 13,941 11,029 11,371 11,852 10,568 11,334 Commercial banks .. .. 14,520 34,873 24,400 13,485 10,622 6,762 6,064 5,122 Other private .. .. 11,055 25,577 15,937 24,260 22,477 22,598 21,161 17,659 Private nonguaranteed .. .. 0 2,412 27,243 37,688 37,789 36,744 31,839 35,030 Bonds .. .. 0 2,412 1,198 1,248 1,068 1,536 1,540 1,620 Commercial banks and other .. .. 0 0 26,045 36,440 36,721 35,208 30,299 33,410 Memo: IBRD 0 0 2,865 8,239 9,644 10,400 11,118 11,550 11,254 10,657 IDA 0 0 3,016 7,830 8,693 8,907 8,771 8,654 9,423 10,314 DISBURSEMENTS .. .. 9,665 23,976 11,148 20,384 16,777 14,781 19,058 25,485 Public and publicly guaranteed .. .. 9,665 22,458 10,679 12,719 9,695 8,611 4,671 4,868 Official creditors .. .. 2,578 6,214 5,012 7,332 5,791 4,741 3,269 2,645 Multilateral .. .. 1,158 2,939 2,830 2,396 3,303 2,575 2,628 2,372 Concessional .. .. 511 715 602 493 424 319 212 143 Bilateral .. .. 1,420 3,275 2,182 4,936 2,487 2,167 641 273 Concessional .. .. 1,022 248 2,046 3,879 1,874 1,779 463 255 Private creditors .. .. 7,087 16,244 5,667 5,387 3,904 3,870 1,402 2,223 Bonds .. .. 277 3,105 1,325 1,067 848 1,486 100 1,606 Commercial banks .. .. 3,247 5,889 1,537 890 131 348 115 65 Other private .. .. 3,564 7,249 2,805 3,430 2,925 2,036 1,187 552 Private nonguaranteed .. .. 0 1,518 469 7,665 7,082 6,170 14,387 20,616 Bonds .. .. 0 1,518 469 0 390 476 90 175 Commercial banks and other .. .. 0 0 0 7,665 6,692 5,694 14,297 20,441 Memo: IBRD 0 0 591 1,562 1,474 1,294 1,528 1,480 1,812 1,475 IDA 0 0 507 713 592 460 379 311 208 141 PRINCIPAL REPAYMENTS .. .. 3,319 11,526 11,209 19,835 19,925 16,643 24,715 30,356 Public and publicly guaranteed .. .. 3,319 11,320 8,182 11,105 10,798 8,579 9,940 10,766 Official creditors .. .. 851 1,899 2,724 3,945 4,271 2,586 4,475 5,737 Multilateral .. .. 220 554 575 696 1,400 1,182 3,123 4,514 Concessional .. .. 0 34 40 66 317 131 123 150 Bilateral .. .. 631 1,345 2,150 3,249 2,871 1,404 1,353 1,224 Concessional .. .. 145 385 2,031 2,883 2,346 1,143 1,104 1,066 Private creditors .. .. 2,468 9,421 5,458 7,160 6,527 5,993 5,464 5,028 Bonds .. .. 325 1,087 0 2,321 443 926 1,165 996 Commercial banks .. .. 808 5,159 3,018 1,638 2,016 1,557 740 961 Other private .. .. 1,335 3,175 2,439 3,201 4,068 3,510 3,559 3,071 Private nonguaranteed .. .. 0 207 3,027 8,730 9,127 8,064 14,775 19,590 Bonds .. .. 0 207 207 0 534 0 80 110 Commercial banks and other .. .. 0 0 2,820 8,730 8,593 8,064 14,695 19,480 Memo: IBRD 0 0 216 351 396 505 578 817 2,389 2,312 IDA 0 0 0 26 38 53 66 87 113 147 NET FLOWS ON DEBT .. .. 6,346 12,449 -61 549 -3,148 -1,861 -5,657 -4,871 Public and publicly guaranteed .. .. 6,346 11,138 2,497 1,614 -1,103 33 -5,269 -5,897 Official creditors .. .. 1,727 4,315 2,288 3,387 1,520 2,156 -1,207 -3,092 Multilateral .. .. 938 2,385 2,255 1,700 1,903 1,393 -495 -2,142 Concessional .. .. 511 681 563 427 108 188 89 -8 Bilateral .. .. 789 1,930 32 1,687 -384 763 -712 -950 Concessional .. .. 877 -137 14 996 -471 636 -641 -811 Private creditors .. .. 4,620 6,823 209 -1,773 -2,623 -2,123 -4,062 -2,805 Bonds .. .. -48 2,019 1,325 -1,254 405 560 -1,065 610 Commercial banks .. .. 2,439 730 -1,481 -748 -1,885 -1,209 -625 -896 Other private .. .. 2,229 4,075 366 229 -1,143 -1,474 -2,372 -2,519 Private nonguaranteed .. .. 0 1,311 -2,558 -1,065 -2,045 -1,894 -388 1,026 Bonds .. .. 0 1,311 262 0 -144 476 10 65 Commercial banks and other .. .. 0 0 -2,820 -1,065 -1,901 -2,370 -398 961 Memo: IBRD 0 0 376 1,211 1,078 788 950 663 -577 -837 IDA 0 0 507 687 554 407 314 224 95 -6 142 CHINA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 2,534 5,553 5,575 5,887 5,999 6,160 4,232 4,603 Public and publicly guaranteed .. .. 2,534 5,498 4,612 3,692 4,075 4,244 3,077 3,282 Official creditors .. .. 531 1,785 1,813 1,935 2,387 2,575 1,669 1,603 Multilateral .. .. 226 730 817 965 1,518 1,808 1,149 808 Concessional .. .. 20 58 60 68 69 66 68 73 Bilateral .. .. 305 1,055 995 970 869 767 520 795 Concessional .. .. 193 342 964 777 633 544 417 615 Private creditors .. .. 2,003 3,713 2,799 1,757 1,688 1,669 1,408 1,678 Bonds .. .. 367 568 397 483 521 690 413 570 Commercial banks .. .. 959 1,441 983 274 222 202 220 118 Other private .. .. 677 1,704 1,419 1,000 945 777 775 991 Private nonguaranteed .. .. 0 55 963 2,195 1,924 1,916 1,155 1,321 Bonds .. .. 0 55 42 96 93 111 119 123 Commercial banks and other .. .. 0 0 921 2,099 1,831 1,805 1,036 1,198 Memo: IBRD 0 0 200 507 545 637 713 733 593 378 IDA 0 0 19 56 59 64 65 64 67 72 NET TRANSFERS ON DEBT .. .. 3,813 6,896 -5,636 -5,338 -9,148 -8,021 -9,889 -9,474 Public and publicly guaranteed .. .. 3,813 5,640 -2,115 -2,078 -5,179 -4,211 -8,346 -9,179 Official creditors .. .. 1,195 2,530 475 1,452 -868 -419 -2,875 -4,695 Multilateral .. .. 712 1,654 1,438 735 385 -416 -1,644 -2,950 Concessional .. .. 491 622 503 359 39 122 21 -80 Bilateral .. .. 484 875 -963 717 -1,252 -4 -1,231 -1,745 Concessional .. .. 684 -479 -950 220 -1,104 92 -1,058 -1,426 Private creditors .. .. 2,617 3,111 -2,590 -3,530 -4,311 -3,792 -5,470 -4,484 Bonds .. .. -415 1,451 928 -1,737 -116 -130 -1,478 41 Commercial banks .. .. 1,480 -711 -2,465 -1,022 -2,107 -1,411 -845 -1,014 Other private .. .. 1,551 2,371 -1,053 -771 -2,088 -2,251 -3,148 -3,510 Private nonguaranteed .. .. 0 1,256 -3,521 -3,260 -3,969 -3,810 -1,543 -295 Bonds .. .. 0 1,256 220 -96 -237 365 -109 -58 Commercial banks and other .. .. 0 0 -3,742 -3,164 -3,732 -4,175 -1,434 -236 Memo: IBRD 0 0 176 704 533 151 237 -70 -1,170 -1,216 IDA 0 0 488 632 495 342 248 160 28 -78 DEBT SERVICE (LTDS) .. .. 5,853 17,080 16,784 25,722 25,924 22,803 28,946 34,958 Public and publicly guaranteed .. .. 5,853 16,817 12,794 14,797 14,873 12,823 13,016 14,047 Official creditors .. .. 1,382 3,684 4,537 5,880 6,658 5,161 6,144 7,341 Multilateral .. .. 446 1,285 1,392 1,660 2,919 2,990 4,272 5,322 Concessional .. .. 20 92 100 134 385 196 191 223 Bilateral .. .. 937 2,400 3,145 4,219 3,740 2,171 1,872 2,019 Concessional .. .. 338 728 2,996 3,660 2,979 1,687 1,520 1,681 Private creditors .. .. 4,470 13,133 8,257 8,917 8,215 7,662 6,872 6,707 Bonds .. .. 692 1,655 397 2,804 964 1,616 1,578 1,566 Commercial banks .. .. 1,766 6,600 4,002 1,912 2,238 1,759 960 1,079 Other private .. .. 2,012 4,879 3,858 4,201 5,013 4,287 4,335 4,062 Private nonguaranteed .. .. 0 262 3,990 10,925 11,051 9,980 15,930 20,911 Bonds .. .. 0 262 249 96 627 111 199 233 Commercial banks and other .. .. 0 0 3,742 10,829 10,424 9,869 15,731 20,678 Memo: IBRD 0 0 415 858 941 1,142 1,291 1,550 2,981 2,691 IDA 0 0 19 81 97 117 131 151 180 220 UNDISBURSED DEBT .. .. 9,298 16,883 22,267 21,120 14,562 10,825 10,931 9,426 Official creditors .. .. 5,280 11,512 21,758 20,632 14,163 10,824 9,131 7,778 Private creditors .. .. 4,019 5,371 509 488 399 0 1,800 1,648 Memorandum items Concessional LDOD .. .. 9,718 18,101 29,643 32,781 30,215 29,486 29,922 32,570 Variable rate LDOD .. .. 16,491 45,217 62,139 60,538 61,733 59,388 53,732 55,123 Public sector LDOD .. .. 45,449 111,740 99,424 99,217 94,860 91,776 88,613 85,570 Private sector LDOD .. .. 66 3,493 27,243 37,688 37,789 36,744 31,839 35,030 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 4.8 5.7 7.2 Deutsche mark .. .. 3.1 1.2 2.3 2.2 2.3 .. .. .. French franc .. .. 0.4 0.2 2.9 2.0 1.9 .. .. .. Japanese yen .. .. 30.4 11.8 14.8 17.8 16.9 14.5 15.4 16.7 Pound sterling .. .. 0.7 0.2 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc .. .. 0.2 0.0 0.1 0.1 0.1 0.1 0.1 0.1 U.S.dollars .. .. 29.1 74.6 72.4 67.5 71.4 74.1 72.4 71.2 Multiple currency .. .. 31.2 10.8 6.2 9.2 6.4 6.0 5.8 4.2 Special drawing rights .. .. 0.3 0.1 0.3 0.3 0.1 0.0 0.0 0.1 All other currencies .. .. 4.7 1.1 0.9 0.9 0.8 0.4 0.4 0.4 143 CHINA (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 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 17,880 -2,690 8,079 -6,356 24,401 -1,793 25,230 Net flows on debt .. .. 8,267 18,506 -14,185 -1,611 -5,248 -33 618 13,538 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 -3,502 2,253 964 -3,118 -2,923 3,370 3,910 Residual .. .. 687 2,875 9,242 8,726 2,010 655 -5,781 1,109 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 7.5 6.5 6.2 6.1 6.6 5.9 5.7 3.7 Maturity (years) .. .. 16.6 10.1 15.5 14.3 12.9 12.9 14.1 14.5 Grace period (years) .. .. 3.9 3.2 3.4 3.1 2.5 3.8 3.0 5.9 Grant element (%) .. .. 15.6 14.8 20.7 20.0 15.2 20.7 23.2 38.2 Official creditors Interest (%) .. .. 3.7 6.6 5.9 5.6 7.2 5.8 4.2 2.2 Maturity (years) .. .. 27.9 19.1 21.6 23.2 21.1 21.4 20.7 21.6 Grace period (years) .. .. 7.9 3.9 5.6 6.1 4.9 4.7 5.0 5.4 Grant element (%) .. .. 49.2 21.2 27.8 31.6 17.5 26.9 38.1 53.8 Private creditors Interest (%) .. .. 8.6 6.4 6.4 6.3 6.5 5.9 6.5 4.9 Maturity (years) .. .. 13.3 6.4 11.1 10.9 10.5 10.2 10.1 8.7 Grace period (years) .. .. 2.7 2.9 1.8 1.9 1.8 3.5 1.8 6.4 Grant element (%) .. .. 5.7 12.2 15.6 15.5 14.5 18.7 14.1 25.2 Memorandum items Commitments .. .. 9,988 22,108 8,029 10,993 10,702 7,421 5,165 3,940 Official creditors .. .. 2,288 6,323 3,357 3,046 2,438 1,784 1,963 1,789 Private creditors .. .. 7,701 15,785 4,671 7,947 8,265 5,638 3,202 2,151 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 3,870 1,665 1,277 984 729 466 290 96 33 15 Principal 19,729 17,204 16,738 15,020 11,815 7,561 5,053 6,424 3,374 4,327 Interest 4,769 4,005 3,287 2,580 1,907 1,476 1,196 981 836 729 Official creditors Disbursements 2,222 1,665 1,277 984 729 466 290 96 33 15 Principal 4,707 4,175 4,241 4,070 3,552 3,556 3,441 3,276 3,216 3,016 Interest 1,657 1,554 1,460 1,342 1,214 1,095 974 861 754 651 Bilateral creditors Disbursements 469 85 15 0 0 0 0 0 0 0 Principal 3,314 2,647 2,571 2,348 1,749 1,741 1,597 1,377 1,308 1,143 Interest 920 817 716 618 531 460 388 329 278 230 Multilateral creditors Disbursements 1,753 1,580 1,262 984 729 466 290 96 33 15 Principal 1,393 1,528 1,670 1,723 1,803 1,815 1,844 1,898 1,908 1,874 Interest 737 737 744 724 683 636 586 532 476 420 Private creditors Disbursements 1,648 0 0 0 0 0 0 0 0 0 Principal 15,021 13,029 12,497 10,950 8,263 4,005 1,612 3,148 158 1,310 Interest 3,112 2,451 1,827 1,239 692 380 222 120 83 79 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 823 823 805 785 781 112 109 100 100 100 Interest 95 79 64 49 35 23 20 18 16 13 Other private Disbursements 1,648 0 0 0 0 0 0 0 0 0 Principal 14,199 12,205 11,691 10,165 7,482 3,893 1,503 3,048 58 1,211 Interest 3,017 2,372 1,763 1,190 658 357 202 102 67 65 144 COLOMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2,236 6,941 17,222 31,941 33,083 34,424 33,934 36,248 33,201 32,979 Long-term debt (LDOD) 1,580 4,604 15,784 26,182 26,851 30,459 31,062 32,961 29,542 29,423 Public and publicly guaranteed 1,297 4,089 14,671 15,436 16,749 20,220 20,803 21,777 20,666 22,816 Private nonguaranteed 283 515 1,113 10,746 10,101 10,239 10,259 11,184 8,876 6,607 Use of IMF credit 55 0 0 0 0 0 0 0 0 0 Short-term debt 602 2,337 1,438 5,759 6,232 3,965 2,871 3,287 3,659 3,556 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 38 42 46 42 38 34 37 Official creditors 0 0 42 28 31 37 33 30 32 35 Private creditors 0 0 367 10 10 9 9 8 1 1 Memo: export credits 0 0 3,908 3,107 1,330 1,137 871 829 764 722 TOTAL DEBT FLOWS Disbursements 361 1,074 1,994 6,243 2,937 7,463 3,804 6,016 3,321 5,385 Long-term debt 332 1,074 1,994 6,243 2,937 7,463 3,804 6,016 3,321 5,385 IMF purchases 29 0 0 0 0 0 0 0 0 0 Principal repayments 225 263 2,189 2,501 2,590 3,934 2,902 3,622 4,621 6,212 Long-term debt 153 263 2,189 2,501 2,590 3,934 2,902 3,622 4,621 6,212 IMF repurchases 73 0 0 0 0 0 0 0 0 0 Net flows on debt 136 1,136 -399 3,618 820 1,262 -192 2,810 -927 -931 of which short-term debt 0 325 -204 -125 473 -2,267 -1,094 416 372 -103 Interest payments (INT) 62 688 1,701 2,011 1,949 2,672 2,204 2,690 2,224 2,216 Long-term debt 62 310 1,558 1,662 1,601 2,387 2,032 2,528 2,064 2,064 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 378 143 349 348 285 172 162 160 152 Net transfers on debt 74 447 -2,100 1,607 -1,129 -1,410 -2,396 121 -3,151 -3,147 Total debt service paid (TDS) 287 951 3,889 4,511 4,539 6,606 5,106 6,311 6,845 8,428 Long-term debt 215 573 3,746 4,162 4,191 6,321 4,934 6,150 6,685 8,276 IMF repurchases and charges 73 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 378 143 349 348 285 172 162 160 152 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 245 976 340 9,671 3,286 5,114 3,394 4,966 930 971 Net flow of long-term debt (ex. IMF) 179 811 -195 3,742 346 3,529 903 2,394 -1,299 -828 Foreign direct investment (net) 43 157 500 5,562 2,829 1,508 2,395 2,525 2,115 1,746 Portfolio equity flows 0 0 0 278 47 -27 17 -42 17 -52 Grants (excluding technical coop.) 23 8 35 89 64 104 79 89 98 104 Memo: technical coop. grants 14 46 79 75 117 224 183 360 414 769 official net resource flows 175 288 -5 -363 242 1,117 183 1,172 118 2,156 private net resource flows 70 688 345 10,034 3,044 3,997 3,211 3,794 812 -1,185 NET TRANSFERS 89 556 -2,182 7,440 1,714 3,014 706 1,514 -2,167 -2,652 Interest on long-term debt 62 310 1,558 1,662 1,601 2,387 2,032 2,528 2,064 2,064 Profit remittances on FDI 94 110 964 570 -29 -288 655 924 1,033 1,559 Memo: official net transfers 138 160 -632 -769 -128 410 -359 610 -385 1,618 private net transfers -48 396 -1,550 8,209 1,843 2,604 1,065 904 -1,781 -4,270 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 6,995 33,185 38,193 104,296 96,721 84,767 81,463 79,126 77,530 75,204 Exports of goods, serv. & inc. (XGS) 1,025 5,928 9,514 15,898 15,173 16,199 18,400 17,973 17,347 19,180 Worker remit. & comp. of employees 26 106 495 774 806 1,312 1,610 2,056 2,480 3,076 Imports of goods & services (MGS) 1,348 6,231 9,510 21,604 19,992 15,684 17,754 19,415 18,969 20,637 International reserves (RES) 207 6,474 4,869 9,907 8,754 8,103 9,006 10,244 10,844 10,920 Current account balance -293 -206 542 -5,750 -4,857 671 740 -1,109 -1,371 -1,191 4. DEBT INDICATORS EDT / XGS (%) 218.2 117.1 181.0 200.9 218.0 212.5 184.4 201.7 191.4 171.9 EDT / GNI (%) 32.0 20.9 45.1 30.6 34.2 40.6 41.7 45.8 42.8 43.9 TDS / XGS (%) 28.0 16.0 40.9 28.4 29.9 40.8 27.8 35.1 39.5 43.9 INT / XGS (%) 6.0 11.6 17.9 12.6 12.8 16.5 12.0 15.0 12.8 11.6 INT / GNI (%) 0.9 2.1 4.5 1.9 2.0 3.2 2.7 3.4 2.9 2.9 RES / EDT (%) 9.3 93.3 28.3 31.0 26.5 23.5 26.5 28.3 32.7 33.1 RES / MGS (months) 1.8 12.5 6.1 5.5 5.3 6.2 6.1 6.3 6.9 6.3 Short-term / EDT (%) 26.9 33.7 8.4 18.0 18.8 11.5 8.5 9.1 11.0 10.8 Concessional / EDT (%) 28.1 14.2 5.7 2.8 2.7 2.8 2.8 2.5 2.8 3.4 Multilateral / EDT (%) 19.9 19.5 35.4 12.8 14.0 18.5 18.5 20.0 22.9 30.6 145 COLOMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1,580 4,604 15,784 26,182 26,851 30,459 31,062 32,961 29,542 29,423 Public and publicly guaranteed 1,297 4,089 14,671 15,436 16,749 20,220 20,803 21,777 20,666 22,816 Official creditors 1,112 2,393 8,540 5,622 6,018 7,830 7,726 8,591 8,937 11,367 Multilateral 445 1,350 6,103 4,084 4,624 6,361 6,278 7,255 7,603 10,085 Concessional 25 89 219 145 131 117 104 90 71 273 Bilateral 667 1,043 2,437 1,538 1,394 1,470 1,448 1,336 1,334 1,282 Concessional 604 899 769 745 755 850 860 798 853 838 Private creditors 185 1,696 6,131 9,814 10,732 12,390 13,077 13,185 11,730 11,449 Bonds 21 31 275 4,366 5,789 6,941 8,201 10,226 9,623 9,664 Commercial banks 24 1,371 4,208 4,727 4,357 4,615 4,245 2,270 1,518 1,289 Other private 140 294 1,648 721 585 834 632 689 589 496 Private nonguaranteed 283 515 1,113 10,746 10,101 10,239 10,259 11,184 8,876 6,607 Bonds 0 0 0 809 821 885 762 658 658 376 Commercial banks and other 283 515 1,113 9,937 9,280 9,354 9,497 10,526 8,218 6,232 Memo: IBRD 354 991 3,859 1,723 1,740 1,960 1,920 2,006 2,348 3,241 IDA 20 21 14 10 9 8 7 7 6 5 DISBURSEMENTS 332 1,074 1,994 6,243 2,937 7,463 3,804 6,016 3,321 5,385 Public and publicly guaranteed 332 1,019 1,847 2,980 2,937 6,519 2,940 5,255 2,027 5,385 Official creditors 194 416 697 603 852 1,758 661 1,602 980 3,312 Multilateral 74 302 559 488 811 1,550 509 1,520 912 3,288 Concessional 0 37 3 5 0 0 0 0 0 180 Bilateral 120 113 139 115 41 208 152 82 68 24 Concessional 101 9 26 35 8 105 97 54 56 15 Private creditors 138 603 1,150 2,377 2,085 4,761 2,279 3,653 1,047 2,073 Bonds 0 0 0 1,144 1,717 1,750 1,804 3,045 500 1,782 Commercial banks 88 500 874 1,138 329 1,433 469 379 467 263 Other private 50 102 275 95 39 1,578 5 230 80 27 Private nonguaranteed 0 55 147 3,263 0 944 865 761 1,294 0 Bonds 0 0 0 0 0 176 0 0 0 0 Commercial banks and other 0 55 147 3,263 0 768 865 761 1,294 0 Memo: IBRD 58 218 213 189 184 488 266 368 480 987 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 153 263 2,189 2,501 2,590 3,934 2,902 3,622 4,621 6,212 Public and publicly guaranteed 94 250 1,875 1,833 1,934 3,114 2,069 2,721 3,327 3,944 Official creditors 42 136 737 1,055 674 745 558 519 960 1,260 Multilateral 22 80 527 833 437 511 441 402 853 1,118 Concessional 0 1 12 12 14 14 14 14 15 15 Bilateral 20 57 210 222 237 234 116 117 108 142 Concessional 7 30 36 35 29 42 44 47 43 84 Private creditors 52 114 1,138 778 1,260 2,369 1,512 2,202 2,366 2,684 Bonds 3 3 4 76 379 566 469 985 1,190 2,070 Commercial banks 21 52 849 502 700 1,175 839 1,031 990 491 Other private 28 59 284 200 181 629 204 187 186 123 Private nonguaranteed 59 13 314 667 656 820 832 900 1,294 2,268 Bonds 0 0 0 0 0 125 110 98 0 282 Commercial banks and other 59 13 314 667 656 695 722 802 1,294 1,987 Memo: IBRD 17 65 434 437 232 270 242 232 231 211 IDA 0 0 1 1 1 1 1 1 1 1 NET FLOWS ON DEBT 179 811 -195 3,742 346 3,529 903 2,394 -1,299 -828 Public and publicly guaranteed 238 769 -28 1,147 1,003 3,405 870 2,534 -1,300 1,441 Official creditors 152 280 -40 -452 178 1,013 103 1,083 20 2,052 Multilateral 52 223 32 -345 374 1,039 67 1,117 60 2,170 Concessional 0 37 -8 -7 -14 -14 -14 -14 -14 165 Bilateral 100 57 -72 -107 -196 -26 36 -35 -40 -118 Concessional 94 -21 -10 0 -21 63 53 7 13 -70 Private creditors 86 489 12 1,599 825 2,392 767 1,451 -1,319 -611 Bonds -3 -3 -4 1,068 1,337 1,184 1,335 2,059 -690 -287 Commercial banks 67 449 25 636 -371 258 -369 -651 -523 -228 Other private 22 43 -9 -105 -141 950 -199 43 -106 -96 Private nonguaranteed -59 42 -167 2,595 -656 124 32 -139 0 -2,268 Bonds 0 0 0 0 0 51 -110 -98 0 -282 Commercial banks and other -59 42 -167 2,595 -656 73 142 -41 0 -1,987 Memo: IBRD 41 152 -221 -248 -48 218 25 136 249 775 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1 146 COLOMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 62 310 1,558 1,662 1,601 2,387 2,032 2,528 2,064 2,064 Public and publicly guaranteed 47 279 1,240 885 977 1,656 1,414 1,690 1,569 1,630 Official creditors 37 128 627 406 370 707 541 561 503 537 Multilateral 25 102 476 314 286 497 470 493 448 489 Concessional 0 2 6 3 3 3 3 2 2 2 Bilateral 12 26 150 91 84 210 71 68 55 49 Concessional 8 21 19 24 24 16 26 26 24 22 Private creditors 10 151 613 479 607 949 873 1,128 1,065 1,093 Bonds 1 2 27 145 250 287 515 867 932 998 Commercial banks 3 128 461 269 303 492 298 199 92 61 Other private 6 21 124 66 55 170 59 62 42 33 Private nonguaranteed 15 31 318 776 623 732 618 838 495 434 Bonds 0 0 0 82 82 82 84 79 75 75 Commercial banks and other 15 31 318 695 542 649 534 759 420 359 Memo: IBRD 20 79 318 137 115 121 126 133 115 146 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 118 501 -1,753 2,081 -1,254 1,142 -1,129 -134 -3,363 -2,892 Public and publicly guaranteed 192 490 -1,268 262 25 1,749 -544 844 -2,868 -189 Official creditors 115 152 -666 -858 -192 307 -438 521 -483 1,515 Multilateral 27 121 -445 -659 88 542 -403 624 -389 1,681 Concessional -1 35 -14 -10 -17 -17 -16 -16 -16 163 Bilateral 88 30 -222 -199 -280 -236 -35 -102 -94 -167 Concessional 86 -42 -29 -23 -45 47 27 -20 -10 -91 Private creditors 77 338 -601 1,120 217 1,443 -106 323 -2,385 -1,704 Bonds -3 -5 -32 924 1,088 897 820 1,192 -1,621 -1,286 Commercial banks 64 321 -436 367 -674 -234 -667 -850 -615 -289 Other private 16 22 -133 -171 -196 780 -258 -19 -148 -129 Private nonguaranteed -74 11 -485 1,819 -1,279 -608 -586 -978 -495 -2,702 Bonds 0 0 0 -82 -82 -32 -194 -177 -75 -357 Commercial banks and other -74 11 -485 1,901 -1,198 -576 -391 -800 -420 -2,345 Memo: IBRD 21 74 -538 -385 -163 98 -102 3 134 630 IDA 0 0 -1 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 215 573 3,746 4,162 4,191 6,321 4,934 6,150 6,685 8,276 Public and publicly guaranteed 141 529 3,115 2,718 2,911 4,770 3,484 4,411 4,895 5,574 Official creditors 79 264 1,364 1,461 1,044 1,452 1,099 1,080 1,463 1,798 Multilateral 47 181 1,003 1,148 723 1,008 912 896 1,301 1,607 Concessional 1 2 18 15 17 17 16 16 16 17 Bilateral 32 83 361 313 321 444 187 184 162 190 Concessional 15 51 55 58 53 58 70 73 67 106 Private creditors 62 265 1,751 1,257 1,867 3,318 2,385 3,331 3,432 3,776 Bonds 3 5 32 220 629 853 985 1,853 2,121 3,068 Commercial banks 24 179 1,311 771 1,002 1,667 1,137 1,230 1,082 552 Other private 34 80 409 266 236 798 263 249 228 156 Private nonguaranteed 74 44 632 1,444 1,279 1,551 1,450 1,739 1,790 2,702 Bonds 0 0 0 82 82 207 194 177 75 357 Commercial banks and other 74 44 632 1,362 1,198 1,344 1,256 1,561 1,714 2,345 Memo: IBRD 37 144 751 573 347 390 368 365 345 357 IDA 0 0 1 1 1 1 1 1 1 1 UNDISBURSED DEBT 576 2,455 4,034 2,071 2,114 2,466 2,923 2,154 2,131 1,385 Official creditors 424 1,781 3,468 2,014 2,111 2,452 2,280 2,108 1,614 1,385 Private creditors 153 673 567 57 3 13 643 45 518 0 Memorandum items Concessional LDOD 629 988 988 890 886 968 964 888 924 1,111 Variable rate LDOD 283 1,877 7,778 17,473 17,146 19,350 19,377 18,898 16,476 16,558 Public sector LDOD 1,224 4,045 14,630 15,431 16,744 20,215 20,798 21,772 20,665 22,815 Private sector LDOD 356 559 1,154 10,752 10,107 10,244 10,264 11,188 8,877 6,608 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 9.8 9.6 6.2 Deutsche mark 1.3 3.8 6.0 4.2 3.6 2.4 1.8 .. .. .. French franc 0.4 1.9 0.3 0.2 0.2 0.1 0.1 .. .. .. Japanese yen 0.0 0.1 4.9 4.9 4.8 4.7 3.6 3.9 3.8 2.4 Pound sterling 0.2 0.4 0.3 0.1 1.1 0.9 0.8 0.7 0.8 0.8 Swiss franc 0.3 0.0 0.3 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 66.1 60.4 44.0 75.0 75.3 80.6 80.3 78.5 78.8 84.6 Multiple currency 29.8 31.3 41.2 14.9 13.1 10.1 8.5 7.1 6.9 5.9 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 1.9 2.1 3.0 0.7 1.9 1.3 4.9 0.0 0.0 0.0 147 COLOMBIA (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 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 3,042 1,142 1,341 -491 2,314 -3,047 -222 Net flows on debt 136 1,136 -399 3,618 820 1,262 -192 2,810 -927 -931 Net change in interest arrears .. .. 25 0 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 -657 302 -165 -364 -370 643 704 Residual .. .. 218 81 20 244 65 -127 -2,762 5 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.0 12.9 8.0 7.3 7.9 7.2 7.9 8.7 7.7 5.4 Maturity (years) 21.1 15.5 16.5 11.9 8.2 9.9 10.7 12.5 9.2 12.4 Grace period (years) 4.8 4.4 4.6 7.6 5.5 6.0 6.2 8.0 6.0 8.4 Grant element (%) 25.8 -20.2 12.2 13.3 8.6 12.7 4.7 8.1 9.1 23.0 Official creditors Interest (%) 5.2 8.8 7.5 7.2 7.8 4.9 8.6 5.5 4.1 3.7 Maturity (years) 29.8 18.0 18.7 18.2 11.6 10.8 12.6 18.7 13.6 10.7 Grace period (years) 7.2 4.3 5.4 4.4 3.8 4.3 3.7 6.0 3.9 4.8 Grant element (%) 36.9 7.2 15.5 16.4 10.7 24.2 7.4 28.8 30.9 32.1 Private creditors Interest (%) 7.2 15.4 9.3 7.4 8.0 9.2 7.7 10.4 8.9 8.8 Maturity (years) 7.2 13.9 10.1 10.4 6.5 9.1 10.1 9.2 7.8 15.9 Grace period (years) 1.1 4.5 2.2 8.4 6.3 7.4 7.0 9.1 6.7 15.8 Grant element (%) 7.9 -37.2 2.3 12.5 7.6 3.0 3.9 -3.3 1.8 4.1 Memorandum items Commitments 363 1,561 1,269 2,769 3,111 4,364 3,782 4,814 1,991 4,763 Official creditors 224 597 950 532 1,032 1,995 874 1,709 501 3,207 Private creditors 139 964 318 2,237 2,079 2,370 2,908 3,104 1,490 1,556 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 368 321 241 159 112 71 56 28 16 11 Principal 3,910 2,696 3,495 3,543 3,437 2,609 1,593 2,350 1,320 869 Interest 1,884 1,724 1,557 1,340 1,037 872 733 563 447 342 Official creditors Disbursements 368 321 241 159 112 71 56 28 16 11 Principal 1,063 983 1,261 1,586 1,234 841 891 890 677 617 Interest 513 473 429 359 283 233 195 156 123 102 Bilateral creditors Disbursements 6 4 0 0 0 0 0 0 0 0 Principal 145 130 126 125 124 126 87 71 27 24 Interest 48 42 37 31 26 20 15 11 8 7 Multilateral creditors Disbursements 362 317 241 159 112 71 56 28 16 11 Principal 918 853 1,135 1,461 1,110 715 804 819 651 593 Interest 465 431 392 328 257 213 179 145 115 95 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2,848 1,714 2,235 1,957 2,203 1,768 703 1,460 642 253 Interest 1,371 1,251 1,128 981 754 639 538 407 324 241 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 495 232 144 82 26 276 19 2 2 1 Interest 53 33 23 18 15 15 1 1 1 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2,353 1,482 2,091 1,875 2,176 1,492 683 1,458 641 251 Interest 1,318 1,219 1,105 963 739 624 537 407 323 240 148 COMOROS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1.2 44.0 187.1 219.4 227.1 228.3 231.7 242.8 270.1 287.6 Long-term debt (LDOD) 1.2 43.0 174.7 202.7 211.6 206.2 201.9 217.7 239.9 259.6 Public and publicly guaranteed 1.2 43.0 174.7 202.7 211.6 206.2 201.9 217.7 239.9 259.6 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 0.0 0.0 2.8 2.7 2.2 1.5 0.8 0.6 0.2 Short-term debt 0.0 1.0 12.4 13.9 12.9 19.9 28.4 24.2 29.7 27.8 of which interest arrears on LDOD 0.0 0.0 12.2 8.9 11.8 12.9 19.4 21.2 23.7 26.8 Official creditors 0.0 0.0 12.2 8.9 11.8 12.9 19.4 21.2 23.7 26.8 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 36.7 40.6 44.4 61.0 64.2 67.6 68.2 Official creditors 0.0 0.0 25.5 36.7 40.6 44.4 61.0 64.2 67.6 68.2 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements 0.0 13.0 5.4 5.8 4.2 0.7 3.1 11.6 12.2 8.6 Long-term debt 0.0 13.0 5.4 5.8 4.2 0.7 3.1 11.6 12.2 8.6 IMF purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.0 0.0 0.2 1.5 1.6 2.2 1.4 1.5 3.9 1.8 Long-term debt 0.0 0.0 0.2 1.2 1.4 1.8 0.8 1.0 3.6 1.4 IMF repurchases 0.0 0.0 0.0 0.2 0.2 0.4 0.6 0.6 0.4 0.4 Net flows on debt 0.0 13.0 2.2 9.3 -1.4 4.4 3.7 4.1 11.3 1.9 of which short-term debt 0.0 0.0 -3.0 5.0 -3.9 5.9 2.0 -6.0 3.0 -4.9 Interest payments (INT) 0.0 0.4 0.8 0.8 0.4 0.9 1.4 0.9 0.9 0.9 Long-term debt 0.0 0.3 0.7 0.5 0.4 0.7 0.8 0.6 0.8 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 0.3 0.1 0.2 0.6 0.3 0.1 0.1 Net transfers on debt -0.1 12.6 1.3 8.5 -1.8 3.5 2.3 3.2 10.3 1.0 Total debt service paid (TDS) 0.1 0.4 1.1 2.3 2.0 3.1 2.8 2.4 4.9 2.7 Long-term debt 0.1 0.3 0.9 1.8 1.7 2.5 1.6 1.6 4.4 2.2 IMF repurchases and charges 0.0 0.0 0.0 0.3 0.3 0.4 0.6 0.6 0.4 0.4 Short-term debt (interest only) 0.0 0.1 0.2 0.3 0.1 0.2 0.6 0.3 0.1 0.1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 3.0 30.8 33.3 16.9 27.4 14.5 13.1 22.8 22.0 15.5 Net flow of long-term debt (ex. IMF) 0.0 13.0 5.2 4.6 2.8 -1.1 2.3 10.6 8.6 7.2 Foreign direct investment (net) 0.0 0.0 0.4 0.0 0.4 0.3 0.1 1.1 0.4 1.0 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.) 3.1 17.8 27.7 12.3 24.2 15.3 10.7 11.0 13.0 7.3 Memo: technical coop. grants 4.8 7.0 15.8 12.1 10.8 10.0 8.4 8.4 10.4 12.0 official net resource flows 3.0 30.4 32.9 16.9 27.0 14.2 13.0 21.7 21.6 14.5 private net resource flows 0.0 0.4 0.4 0.0 0.4 0.3 0.1 1.1 0.4 1.0 NET TRANSFERS 3.0 30.5 32.0 16.4 27.1 13.8 12.3 22.2 21.2 14.7 Interest on long-term debt 0.0 0.3 0.7 0.5 0.4 0.7 0.8 0.6 0.8 0.8 Profit remittances on FDI 0.0 0.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: official net transfers 3.0 30.1 32.2 16.4 26.7 13.5 12.2 21.1 20.8 13.7 private net transfers 0.0 0.4 -0.2 0.0 0.4 0.3 0.1 1.1 0.4 1.0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 24.7 124.1 261.8 212.3 215.2 223.1 204.7 221.7 247.6 323.0 Exports of goods, serv. & inc. (XGS) .. 15.7 48.1 .. .. .. .. .. .. .. Worker remit. & comp. of employees 0.0 2.0 10.0 12.0 12.0 12.0 12.0 12.0 12.0 12.0 Imports of goods & services (MGS) .. 34.3 93.4 .. .. .. .. .. .. .. International reserves (RES) .. 6.4 29.9 40.6 39.3 37.3 43.4 62.5 80.1 94.5 Current account balance .. -8.9 -10.5 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 280.5 389.1 .. .. .. .. .. .. .. EDT / GNI (%) 4.7 35.4 71.5 103.4 105.5 102.3 113.2 109.5 109.1 89.0 TDS / XGS (%) .. 2.6 2.3 .. .. .. .. .. .. .. INT / XGS (%) .. 2.6 1.7 .. .. .. .. .. .. .. INT / GNI (%) 0.1 0.3 0.3 0.4 0.2 0.4 0.7 0.4 0.4 0.3 RES / EDT (%) .. 14.5 16.0 18.5 17.3 16.3 18.7 25.7 29.7 32.9 RES / MGS (months) .. 2.2 3.8 .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 2.3 6.6 6.3 5.7 8.7 12.2 10.0 11.0 9.7 Concessional / EDT (%) 100.0 96.8 86.0 88.6 89.3 86.3 83.4 86.4 85.6 86.9 Multilateral / EDT (%) 0.0 48.2 60.9 72.6 74.2 72.2 69.4 68.9 70.0 72.2 149 COMOROS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1.2 43.0 174.7 202.7 211.6 206.2 201.9 217.7 239.9 259.6 Public and publicly guaranteed 1.2 43.0 174.7 202.7 211.6 206.2 201.9 217.7 239.9 259.6 Official creditors 1.2 42.6 174.7 202.7 211.6 206.2 201.9 217.7 239.9 259.6 Multilateral 0.0 21.2 113.9 159.3 168.6 164.9 160.8 167.2 189.0 207.7 Concessional 0.0 21.2 100.2 151.0 159.7 155.7 152.3 159.4 180.4 198.2 Bilateral 1.2 21.4 60.8 43.5 43.0 41.4 41.1 50.5 50.9 51.8 Concessional 1.2 21.4 60.8 43.5 43.0 41.4 41.1 50.5 50.9 51.8 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 4.2 37.5 69.6 74.8 72.7 70.8 79.0 96.1 112.4 DISBURSEMENTS 0.0 13.0 5.4 5.8 4.2 0.7 3.1 11.6 12.2 8.6 Public and publicly guaranteed 0.0 13.0 5.4 5.8 4.2 0.7 3.1 11.6 12.2 8.6 Official creditors 0.0 12.6 5.4 5.8 4.2 0.7 3.1 11.6 12.2 8.6 Multilateral 0.0 6.1 1.3 5.8 4.2 0.7 3.1 11.6 12.2 8.6 Concessional 0.0 6.1 1.3 5.8 4.2 0.7 3.1 11.6 12.2 8.6 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 5.2 3.1 0.0 2.1 11.6 12.2 8.6 PRINCIPAL REPAYMENTS 0.0 0.0 0.2 1.2 1.4 1.8 0.8 1.0 3.6 1.4 Public and publicly guaranteed 0.0 0.0 0.2 1.2 1.4 1.8 0.8 1.0 3.6 1.4 Official creditors 0.0 0.0 0.2 1.2 1.4 1.8 0.8 1.0 3.6 1.4 Multilateral 0.0 0.0 0.2 1.0 0.5 0.8 0.8 1.0 2.9 1.4 Concessional 0.0 0.0 0.2 1.0 0.5 0.8 0.8 1.0 2.9 1.4 Bilateral 0.0 0.0 0.0 0.2 0.9 1.0 0.0 0.0 0.7 0.0 Concessional 0.0 0.0 0.0 0.2 0.9 1.0 0.0 0.0 0.7 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 0.1 0.4 0.2 0.6 0.8 0.8 1.1 1.3 NET FLOWS ON DEBT 0.0 13.0 5.2 4.6 2.8 -1.1 2.3 10.6 8.6 7.2 Public and publicly guaranteed 0.0 13.0 5.2 4.6 2.8 -1.1 2.3 10.6 8.6 7.2 Official creditors 0.0 12.6 5.2 4.6 2.8 -1.1 2.3 10.6 8.6 7.2 Multilateral 0.0 6.1 1.0 4.8 3.7 -0.1 2.3 10.6 9.3 7.2 Concessional 0.0 6.1 1.0 4.8 3.7 -0.1 2.3 10.6 9.3 7.2 Bilateral 0.0 6.5 4.1 -0.2 -0.9 -1.0 0.0 0.0 -0.7 0.0 Concessional 0.0 6.5 4.1 -0.2 -0.9 -1.0 0.0 0.0 -0.7 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 0.6 4.8 2.8 -0.6 1.4 10.8 11.1 7.4 150 COMOROS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.0 0.3 0.7 0.5 0.4 0.7 0.8 0.6 0.8 0.8 Public and publicly guaranteed 0.0 0.3 0.7 0.5 0.4 0.7 0.8 0.6 0.8 0.8 Official creditors 0.0 0.3 0.7 0.5 0.4 0.7 0.8 0.6 0.8 0.8 Multilateral 0.0 0.0 0.4 0.5 0.3 0.7 0.8 0.6 0.7 0.8 Concessional 0.0 0.0 0.4 0.5 0.3 0.7 0.8 0.6 0.7 0.8 Bilateral 0.0 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.1 0.0 Concessional 0.0 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.1 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 0.3 0.5 0.3 0.6 0.8 0.6 0.6 0.7 NET TRANSFERS ON DEBT -0.1 12.7 4.5 4.0 2.5 -1.7 1.5 10.0 7.8 6.4 Public and publicly guaranteed -0.1 12.7 4.5 4.0 2.5 -1.7 1.5 10.0 7.8 6.4 Official creditors -0.1 12.3 4.5 4.0 2.5 -1.7 1.5 10.0 7.8 6.4 Multilateral 0.0 6.1 0.6 4.3 3.4 -0.8 1.5 10.0 8.6 6.4 Concessional 0.0 6.1 0.6 4.3 3.4 -0.8 1.5 10.0 8.6 6.4 Bilateral -0.1 6.2 3.9 -0.2 -0.9 -1.0 0.0 0.0 -0.8 0.0 Concessional -0.1 6.2 3.9 -0.2 -0.9 -1.0 0.0 0.0 -0.8 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 1.7 0.3 4.3 2.6 -1.1 0.6 10.2 10.5 6.6 DEBT SERVICE (LTDS) 0.1 0.3 0.9 1.8 1.7 2.5 1.6 1.6 4.4 2.2 Public and publicly guaranteed 0.1 0.3 0.9 1.8 1.7 2.5 1.6 1.6 4.4 2.2 Official creditors 0.1 0.3 0.9 1.8 1.7 2.5 1.6 1.6 4.4 2.2 Multilateral 0.0 0.0 0.6 1.5 0.8 1.5 1.6 1.6 3.6 2.2 Concessional 0.0 0.0 0.6 1.5 0.8 1.5 1.6 1.6 3.6 2.2 Bilateral 0.1 0.3 0.3 0.2 0.9 1.0 0.0 0.0 0.8 0.0 Concessional 0.1 0.3 0.3 0.2 0.9 1.0 0.0 0.0 0.8 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 0.3 0.9 0.5 1.1 1.5 1.4 1.7 2.0 UNDISBURSED DEBT 0.0 49.8 56.8 30.6 33.9 30.6 27.0 31.1 20.8 13.6 Official creditors 0.0 48.8 56.8 30.6 33.9 30.6 27.0 31.1 20.8 13.6 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 42.6 161.0 194.5 202.7 197.1 193.4 209.9 231.2 250.1 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 43.0 174.7 202.7 211.6 206.2 201.9 217.7 239.9 259.6 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 13.6 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc 100.0 2.9 23.5 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 31.6 32.3 32.6 33.2 35.0 38.4 41.2 Multiple currency 0.0 10.2 8.0 4.1 4.5 4.9 4.9 5.6 5.4 5.3 Special drawing rights 0.0 0.0 0.0 2.7 2.7 2.7 3.0 2.7 2.6 2.6 All other currencies 0.0 48.5 51.4 46.0 45.1 44.6 44.3 42.2 39.8 37.3 151 COMOROS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0.0 3.5 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 0.5 0.0 0.0 0.0 0.0 0.0 0.0 Official .. .. 0.0 0.5 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 .. .. 0.1 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 .. .. 11.0 1.7 7.6 1.2 3.4 11.1 27.4 17.5 Net flows on debt 0.0 13.0 2.2 9.3 -1.4 4.4 3.7 4.1 11.3 1.9 Net change in interest arrears .. .. 2.6 -0.5 2.9 1.1 6.5 1.8 2.5 3.1 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 1.7 -11.9 -1.8 -7.2 -9.0 -2.9 8.8 12.6 Residual .. .. 4.6 4.9 7.9 2.9 2.3 8.1 4.8 -0.1 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 1.3 2.0 0.6 0.8 0.0 1.0 0.8 0.0 0.0 Maturity (years) 0.0 43.1 29.8 39.8 39.9 0.0 10.7 39.6 0.0 0.0 Grace period (years) 0.0 9.0 10.3 10.3 10.4 0.0 1.2 10.1 0.0 0.0 Grant element (%) 0.0 74.5 65.9 81.5 80.8 0.0 36.7 80.4 0.0 0.0 Official creditors Interest (%) 0.0 0.8 2.0 0.6 0.8 0.0 1.0 0.8 0.0 0.0 Maturity (years) 0.0 45.6 29.8 39.8 39.9 0.0 10.7 39.6 0.0 0.0 Grace period (years) 0.0 9.5 10.3 10.3 10.4 0.0 1.2 10.1 0.0 0.0 Grant element (%) 0.0 79.1 65.9 81.5 80.8 0.0 36.7 80.4 0.0 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 20 8 0 1 17 0 0 Official creditors 0 22 1 20 8 0 1 17 0 0 Private creditors 0 1 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1.5 1.6 1.7 1.8 1.8 1.5 1.1 0.9 0.7 0.5 Principal 11.9 12.3 7.6 5.5 6.0 6.1 5.9 6.1 6.5 6.4 Interest 2.1 1.8 1.5 1.4 1.4 1.4 1.3 1.3 1.2 1.2 Official creditors Disbursements 1.5 1.6 1.7 1.8 1.8 1.5 1.1 0.9 0.7 0.5 Principal 11.9 12.3 7.6 5.5 6.0 6.1 5.9 6.1 6.5 6.4 Interest 2.1 1.8 1.5 1.4 1.4 1.4 1.3 1.3 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 1.6 1.8 1.8 1.6 1.6 1.6 1.4 1.4 1.4 1.4 Interest 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 Multilateral creditors Disbursements 1.5 1.6 1.7 1.8 1.8 1.5 1.1 0.9 0.7 0.5 Principal 10.3 10.4 5.8 3.9 4.4 4.5 4.5 4.7 5.1 5.0 Interest 1.9 1.5 1.2 1.2 1.2 1.2 1.2 1.1 1.1 1.1 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 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 0.0 152 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 342 4,773 10,259 12,337 13,203 12,048 11,692 11,519 10,060 11,170 Long-term debt (LDOD) 308 4,071 8,994 8,628 9,214 8,262 7,880 7,587 8,845 10,077 Public and publicly guaranteed 308 4,071 8,994 8,628 9,214 8,262 7,880 7,587 8,845 10,077 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 373 521 406 423 412 391 377 571 703 Short-term debt 34 329 744 3,302 3,565 3,374 3,421 3,555 643 390 of which interest arrears on LDOD 0 33 265 2,937 3,213 3,015 3,042 3,174 340 363 Official creditors 0 24 166 2,620 2,890 2,833 2,863 2,997 287 300 Private creditors 0 8 99 318 323 181 179 177 53 63 Memo: principal arrears on LDOD 0 36 1,050 4,662 5,145 4,894 4,949 5,279 721 906 Official creditors 0 13 376 3,850 4,279 4,402 4,461 4,798 578 767 Private creditors 0 23 674 811 866 492 488 482 143 139 Memo: export credits 0 0 4,604 5,659 4,074 3,961 4,119 3,940 4,560 3,305 TOTAL DEBT FLOWS Disbursements 32 603 315 0 0 8 0 0 959 265 Long-term debt 32 463 315 0 0 8 0 0 415 190 IMF purchases 0 140 0 0 0 0 0 0 544 75 Principal repayments 25 277 201 0 1 1 0 0 637 56 Long-term debt 25 192 49 0 0 0 0 0 248 56 IMF repurchases 0 85 152 0 1 1 0 0 388 0 Net flows on debt 6 278 88 242 -13 13 20 2 244 -67 of which short-term debt 0 -48 -27 242 -13 7 20 2 -78 -276 Interest payments (INT) 9 265 147 13 19 20 25 18 290 91 Long-term debt 9 205 88 0 0 0 0 0 164 85 IMF charges 0 15 38 0 0 2 0 0 113 1 Short-term debt 0 45 21 12 18 18 25 17 14 5 Net transfers on debt -3 13 -60 229 -32 -6 -4 -16 -46 -158 Total debt service paid (TDS) 34 542 348 13 19 21 25 18 927 146 Long-term debt 34 397 137 0 0 0 0 0 412 141 IMF repurchases and charges 0 101 190 0 1 3 0 0 501 1 Short-term debt (interest only) 0 45 21 12 18 18 25 17 14 5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 51 477 626 68 158 113 160 279 757 5,096 Net flow of long-term debt (ex. IMF) 6 271 266 0 0 8 0 0 167 134 Foreign direct investment (net) 6 110 -15 -44 61 11 23 82 117 158 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 38 96 374 113 97 94 137 197 474 4,803 Memo: technical coop. grants 42 168 146 49 40 58 54 72 92 131 official net resource flows 45 195 652 113 97 101 137 197 640 4,909 private net resource flows 6 283 -26 -44 61 11 23 82 117 187 NET TRANSFERS 42 199 537 68 158 113 160 279 594 5,011 Interest on long-term debt 9 205 88 0 0 0 0 0 164 85 Profit remittances on FDI 0 74 0 0 0 0 0 0 0 0 Memo: official net transfers 40 89 576 113 97 101 137 197 477 4,824 private net transfers 2 110 -39 -44 61 11 23 82 117 187 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 4,721 13,895 8,579 5,701 5,814 4,317 3,916 4,468 5,249 5,385 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 .. .. .. .. .. .. .. Current account balance .. .. .. .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. .. .. .. .. .. .. EDT / GNI (%) 7.2 34.3 119.6 216.4 227.1 279.1 298.6 257.8 191.6 207.4 TDS / XGS (%) .. .. .. .. .. .. .. .. .. .. INT / XGS (%) .. .. .. .. .. .. .. .. .. .. INT / GNI (%) 0.2 1.9 1.7 0.2 0.3 0.5 0.6 0.4 5.5 1.7 RES / EDT (%) 55.4 8.0 2.5 .. .. .. .. .. .. .. RES / MGS (months) .. .. .. .. .. .. .. .. .. .. Short-term / EDT (%) 9.9 6.9 7.2 26.8 27.0 28.0 29.3 30.9 6.4 3.5 Concessional / EDT (%) 63.2 18.1 31.0 25.7 26.3 27.5 26.8 26.2 61.5 63.7 Multilateral / EDT (%) 1.7 6.7 18.6 17.7 17.3 18.9 18.5 17.9 24.3 25.0 153 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 308 4,071 8,994 8,628 9,214 8,262 7,880 7,587 8,845 10,077 Public and publicly guaranteed 308 4,071 8,994 8,628 9,214 8,262 7,880 7,587 8,845 10,077 Official creditors 221 2,609 8,105 7,795 8,316 7,758 7,384 7,098 8,504 9,705 Multilateral 6 322 1,912 2,179 2,281 2,271 2,164 2,065 2,446 2,796 Concessional 1 194 1,439 1,557 1,622 1,611 1,541 1,489 1,892 2,180 Bilateral 216 2,287 6,193 5,616 6,034 5,487 5,220 5,033 6,058 6,909 Concessional 215 667 1,737 1,618 1,849 1,700 1,598 1,525 4,299 4,934 Private creditors 86 1,462 889 834 899 504 496 488 341 372 Bonds 4 7 5 4 4 4 3 3 2 2 Commercial banks 0 145 118 104 129 82 81 80 0 1 Other private 82 1,311 766 725 765 419 412 405 339 370 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 82 84 82 81 81 0 0 IDA 1 159 1,112 1,225 1,261 1,235 1,188 1,151 1,504 1,771 DISBURSEMENTS 32 463 315 0 0 8 0 0 415 190 Public and publicly guaranteed 32 463 315 0 0 8 0 0 415 190 Official creditors 13 201 312 0 0 8 0 0 415 161 Multilateral 1 69 222 0 0 0 0 0 410 160 Concessional 1 27 125 0 0 0 0 0 410 160 Bilateral 12 132 90 0 0 8 0 0 5 1 Concessional 12 105 88 0 0 8 0 0 5 1 Private creditors 19 263 3 0 0 0 0 0 0 29 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 57 0 0 0 0 0 0 0 1 Other private 19 206 3 0 0 0 0 0 0 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 0 23 21 0 0 0 0 0 0 0 IDA 1 20 89 0 0 0 0 0 410 160 PRINCIPAL REPAYMENTS 25 192 49 0 0 0 0 0 248 56 Public and publicly guaranteed 25 192 49 0 0 0 0 0 248 56 Official creditors 6 102 34 0 0 0 0 0 248 55 Multilateral 1 12 28 0 0 0 0 0 248 17 Concessional 0 0 4 0 0 0 0 0 167 17 Bilateral 5 90 6 0 0 0 0 0 0 38 Concessional 4 2 4 0 0 0 0 0 0 4 Private creditors 19 90 15 0 0 0 0 0 0 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 8 5 0 0 0 0 0 0 0 Other private 19 82 10 0 0 0 0 0 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 1 6 5 0 0 0 0 0 82 0 IDA 0 0 2 0 0 0 0 0 135 12 NET FLOWS ON DEBT 6 271 266 0 0 8 0 0 167 134 Public and publicly guaranteed 6 271 266 0 0 8 0 0 167 134 Official creditors 7 98 278 0 0 8 0 0 167 106 Multilateral -1 56 193 0 0 0 0 0 162 143 Concessional 1 27 121 0 0 0 0 0 243 143 Bilateral 7 42 85 0 0 8 0 0 5 -37 Concessional 8 102 84 0 0 8 0 0 5 -3 Private creditors -1 173 -12 0 0 0 0 0 0 29 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 49 -5 0 0 0 0 0 0 1 Other private 0 124 -7 0 0 0 0 0 0 28 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 -82 0 IDA 1 20 87 0 0 0 0 0 275 147 154 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 9 205 88 0 0 0 0 0 164 85 Public and publicly guaranteed 9 205 88 0 0 0 0 0 164 85 Official creditors 5 105 76 0 0 0 0 0 164 85 Multilateral 0 11 40 0 0 0 0 0 164 77 Concessional 0 2 9 0 0 0 0 0 102 10 Bilateral 5 94 36 0 0 0 0 0 0 8 Concessional 5 45 8 0 0 0 0 0 0 2 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 1 2 0 0 0 0 0 0 0 Other private 3 98 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 0 8 1 0 0 0 0 0 51 0 IDA 0 1 7 0 0 0 0 0 86 9 NET TRANSFERS ON DEBT -3 67 178 0 0 8 0 0 3 49 Public and publicly guaranteed -3 67 178 0 0 8 0 0 3 49 Official creditors 2 -7 202 0 0 8 0 0 3 21 Multilateral -1 45 154 0 0 0 0 0 -2 66 Concessional 1 25 112 0 0 0 0 0 141 132 Bilateral 3 -52 49 0 0 8 0 0 5 -45 Concessional 3 57 76 0 0 8 0 0 5 -5 Private creditors -4 74 -24 0 0 0 0 0 0 29 Bonds 0 -1 -1 0 0 0 0 0 0 0 Commercial banks 0 48 -7 0 0 0 0 0 0 1 Other private -4 27 -17 0 0 0 0 0 0 28 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 -132 0 IDA 1 19 80 0 0 0 0 0 189 138 DEBT SERVICE (LTDS) 34 397 137 0 0 0 0 0 412 141 Public and publicly guaranteed 34 397 137 0 0 0 0 0 412 141 Official creditors 11 208 110 0 0 0 0 0 412 140 Multilateral 2 24 68 0 0 0 0 0 412 94 Concessional 0 2 13 0 0 0 0 0 269 27 Bilateral 9 184 42 0 0 0 0 0 0 46 Concessional 9 48 13 0 0 0 0 0 0 6 Private creditors 23 189 27 0 0 0 0 0 0 1 Bonds 0 1 1 0 0 0 0 0 0 0 Commercial banks 0 9 7 0 0 0 0 0 0 0 Other private 23 179 20 0 0 0 0 0 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 2 14 6 0 0 0 0 0 132 0 IDA 0 1 9 0 0 0 0 0 221 21 UNDISBURSED DEBT 288 818 1,654 410 495 235 178 53 535 682 Official creditors 52 743 1,589 364 446 202 151 53 535 682 Private creditors 236 75 65 46 49 33 27 0 0 0 Memorandum items Concessional LDOD 216 862 3,176 3,175 3,471 3,311 3,139 3,014 6,191 7,114 Variable rate LDOD 0 508 1,367 1,318 1,344 950 927 912 2,507 2,681 Public sector LDOD 308 4,071 8,994 8,615 9,200 8,248 7,867 7,587 8,845 10,077 Private sector LDOD 0 0 0 14 14 14 13 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 33.1 34.7 36.8 Deutsche mark 2.2 5.9 6.9 6.0 6.3 6.2 6.0 .. .. .. French franc 3.8 13.6 16.4 14.9 14.9 12.6 12.1 .. .. .. Japanese yen 0.0 1.5 3.0 3.2 4.0 5.1 4.8 4.3 7.6 7.5 Pound sterling 1.8 4.1 1.2 1.0 1.0 1.1 1.1 1.1 1.2 1.1 Swiss franc 0.0 0.4 0.2 0.2 0.2 0.2 0.2 0.2 0.4 0.3 U.S.dollars 41.5 42.2 41.5 44.4 42.9 43.1 44.6 45.8 43.2 41.8 Multiple currency 1.6 2.1 3.2 4.0 4.0 4.5 4.4 4.3 2.3 2.2 Special drawing rights 0.0 0.0 0.2 0.4 0.4 0.4 0.4 0.3 0.3 0.3 All other currencies 49.1 30.3 27.4 25.7 26.3 26.9 26.4 10.9 10.4 9.9 155 CONGO, DEMOCRATIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 446 0 0 0 0 0 4,810 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 259 0 0 6 0 0 2,220 61 Official .. .. 252 0 0 6 0 0 2,072 61 Private .. .. 7 0 0 0 0 0 149 1 Interest rescheduled .. .. 131 0 0 1 0 0 1,298 18 Official .. .. 129 0 0 1 0 0 1,247 17 Private .. .. 2 0 0 0 0 0 51 0 Debt forgiven .. .. 9 0 0 1 0 0 2,086 75 Memo: interest forgiven .. .. 15 0 0 0 0 0 1,467 27 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 -493 866 -1,155 -356 -173 -1,460 1,111 Net flows on debt 6 278 88 242 -13 13 20 2 244 -67 Net change in interest arrears .. .. 125 -61 275 -198 27 132 -2,834 23 Interest capitalized .. .. 131 0 0 1 0 0 1,298 18 Debt forgiveness or reduction .. .. -9 0 0 -1 0 0 -2,086 -75 Cross-currency valuation .. .. 400 -850 93 -617 -373 -294 643 910 Residual .. .. 273 176 511 -353 -30 -14 1,277 302 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 4.5 0.9 Maturity (years) 12.5 22.7 23.8 0.0 0.0 0.0 0.0 0.0 29.4 40.3 Grace period (years) 3.6 6.3 6.4 0.0 0.0 0.0 0.0 0.0 7.5 9.6 Grant element (%) 18.3 39.4 30.6 0.0 0.0 0.0 0.0 0.0 43.7 77.3 Official creditors Interest (%) 2.6 2.8 5.9 0.0 0.0 0.0 0.0 0.0 4.5 0.8 Maturity (years) 32.6 28.9 23.8 0.0 0.0 0.0 0.0 0.0 29.4 43.5 Grace period (years) 8.6 8.5 6.4 0.0 0.0 0.0 0.0 0.0 7.5 10.3 Grant element (%) 59.8 57.2 30.6 0.0 0.0 0.0 0.0 0.0 43.7 81.6 Private creditors Interest (%) 6.9 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 Maturity (years) 10.1 9.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 Grace period (years) 3.0 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 Grant element (%) 13.3 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37.6 Memorandum items Commitments 258 438 109 0 0 0 0 0 4,042 300 Official creditors 27 298 109 0 0 0 0 0 4,042 270 Private creditors 231 140 0 0 0 0 0 0 0 30 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 111 146 144 111 85 58 42 16 5 4 Principal 397 401 370 364 357 341 285 353 362 371 Interest 155 150 187 179 170 162 155 146 135 125 Official creditors Disbursements 110 146 144 111 85 58 42 16 5 4 Principal 362 372 338 331 324 309 281 349 357 367 Interest 151 146 184 176 169 160 154 145 135 125 Bilateral creditors Disbursements 25 15 1 0 0 0 0 0 0 0 Principal 314 324 289 277 269 253 224 291 291 290 Interest 126 120 158 150 142 134 127 119 109 99 Multilateral creditors Disbursements 85 131 143 111 85 58 42 16 5 4 Principal 47 48 49 54 55 56 57 57 66 77 Interest 26 26 27 27 27 27 27 26 26 25 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 35 30 33 33 33 33 4 4 4 4 Interest 4 3 3 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 35 30 32 32 32 32 4 4 4 4 Interest 4 3 3 2 2 1 1 1 0 0 156 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 119 1,526 4,947 5,071 5,119 5,033 4,887 4,491 5,152 5,516 Long-term debt (LDOD) 118 1,257 4,200 4,284 4,251 3,934 3,758 3,631 3,974 4,426 Public and publicly guaranteed 118 1,257 4,200 4,284 4,251 3,934 3,758 3,631 3,974 4,426 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 22 11 34 34 29 41 39 33 28 Short-term debt 0 247 736 753 834 1,070 1,088 821 1,145 1,062 of which interest arrears on LDOD 0 4 181 371 511 588 667 724 874 1,042 Official creditors 0 2 77 227 343 419 496 553 693 849 Private creditors 0 2 104 144 167 169 171 171 181 193 Memo: principal arrears on LDOD 1 10 571 1,228 1,474 1,623 1,806 1,971 2,278 2,649 Official creditors 0 5 127 671 831 942 1,093 1,218 1,489 1,814 Private creditors 1 5 443 558 642 681 714 753 788 835 Memo: export credits 0 0 1,877 2,420 1,212 968 947 803 1,129 1,300 TOTAL DEBT FLOWS Disbursements 18 526 318 24 10 0 14 38 2 24 Long-term debt 18 522 312 24 0 0 0 38 2 24 IMF purchases 0 4 5 0 10 0 14 0 0 0 Principal repayments 6 41 362 55 18 4 5 56 18 31 Long-term debt 6 34 355 53 7 0 5 54 10 24 IMF repurchases 0 7 7 2 11 4 0 1 8 8 Net flows on debt 13 541 93 96 -66 154 -52 -341 158 -258 of which short-term debt 0 56 138 127 -58 158 -61 -324 174 -251 Interest payments (INT) 3 68 169 57 23 21 37 36 7 30 Long-term debt 3 37 120 40 6 0 7 26 3 28 IMF charges 0 1 1 1 1 1 1 1 1 0 Short-term debt 0 31 48 16 16 20 30 9 3 2 Net transfers on debt 10 473 -75 39 -90 133 -90 -378 151 -288 Total debt service paid (TDS) 9 109 531 112 41 25 43 92 25 61 Long-term debt 9 71 475 93 13 0 12 80 13 51 IMF repurchases and charges 0 8 8 3 11 5 1 2 9 8 Short-term debt (interest only) 0 31 48 16 16 20 30 9 3 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 23 548 29 285 80 668 193 96 384 234 Net flow of long-term debt (ex. IMF) 13 488 -43 -30 -7 0 -5 -17 -8 0 Foreign direct investment (net) 5 40 23 79 33 538 166 77 331 201 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 5 20 50 235 54 130 32 35 61 33 Memo: technical coop. grants 10 37 51 31 30 21 19 20 25 33 official net resource flows 19 108 106 205 47 130 27 19 53 33 private net resource flows 4 440 -77 79 33 538 166 77 331 201 NET TRANSFERS 20 505 -90 145 150 488 -280 -299 -191 -172 Interest on long-term debt 3 37 120 40 6 0 7 26 3 28 Profit remittances on FDI 0 6 0 99 -77 181 466 369 572 378 Memo: official net transfers 17 83 38 165 41 130 20 -7 50 5 private net transfers 3 421 -129 -20 109 358 -300 -292 -241 -177 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 267 1,544 2,324 1,661 1,480 1,645 2,275 1,954 2,198 2,681 Exports of goods, serv. & inc. (XGS) .. 1,030 1,503 1,768 1,490 1,737 2,644 2,217 2,461 1,550 Worker remit. & comp. of employees 0 3 0 5 2 12 10 12 1 1 Imports of goods & services (MGS) .. 1,195 1,757 1,925 1,727 1,961 2,013 2,228 2,484 1,545 International reserves (RES) 9 93 10 63 4 43 225 72 35 39 Current account balance .. -167 -251 -156 -241 -231 648 -28 -34 -3 4. DEBT INDICATORS EDT / XGS (%) .. 148.2 329.2 286.7 343.5 289.8 184.9 202.6 209.4 355.9 EDT / GNI (%) 44.5 98.8 212.9 305.3 346.0 305.9 214.8 229.9 234.4 205.7 TDS / XGS (%) .. 10.6 35.3 6.4 2.8 1.4 1.6 4.1 1.0 4.0 INT / XGS (%) .. 6.6 11.2 3.2 1.6 1.2 1.4 1.6 0.3 1.9 INT / GNI (%) 1.1 4.4 7.3 3.4 1.6 1.3 1.6 1.9 0.3 1.1 RES / EDT (%) 7.5 6.1 0.2 1.2 0.1 0.8 4.6 1.6 0.7 0.7 RES / MGS (months) .. 0.9 0.1 0.4 0.0 0.3 1.3 0.4 0.2 0.3 Short-term / EDT (%) 0.3 16.2 14.9 14.9 16.3 21.3 22.3 18.3 22.2 19.3 Concessional / EDT (%) 62.8 26.5 35.1 36.6 36.8 34.4 33.7 36.2 34.9 37.1 Multilateral / EDT (%) 24.7 7.7 11.5 12.2 12.2 11.9 11.7 11.9 11.0 11.3 157 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 118 1,257 4,200 4,284 4,251 3,934 3,758 3,631 3,974 4,426 Public and publicly guaranteed 118 1,257 4,200 4,284 4,251 3,934 3,758 3,631 3,974 4,426 Official creditors 104 605 3,055 3,452 3,437 3,152 2,993 2,878 3,185 3,591 Multilateral 29 118 568 619 625 601 570 535 569 626 Concessional 0 49 151 239 243 234 223 250 266 312 Bilateral 75 487 2,487 2,832 2,812 2,551 2,424 2,343 2,617 2,965 Concessional 75 355 1,588 1,615 1,643 1,496 1,424 1,378 1,534 1,735 Private creditors 14 652 1,145 832 814 782 764 753 789 835 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 282 724 748 725 703 691 683 708 739 Other private 14 370 421 84 89 79 73 69 81 96 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 73 71 68 65 16 10 3 IDA 0 22 75 165 168 166 159 187 198 235 DISBURSEMENTS 18 522 312 24 0 0 0 38 2 24 Public and publicly guaranteed 18 522 312 24 0 0 0 38 2 24 Official creditors 16 109 127 24 0 0 0 38 2 24 Multilateral 0 23 11 22 0 0 0 38 2 24 Concessional 0 10 1 1 0 0 0 38 2 24 Bilateral 16 87 116 2 0 0 0 0 0 0 Concessional 16 39 113 2 0 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 0 0 0 0 0 0 0 IDA 0 1 0 1 0 0 0 38 2 24 PRINCIPAL REPAYMENTS 6 34 355 53 7 0 5 54 10 24 Public and publicly guaranteed 6 34 355 53 7 0 5 54 10 24 Official creditors 2 21 70 53 7 0 5 54 10 24 Multilateral 1 5 30 38 7 0 5 54 10 24 Concessional 0 0 2 0 0 0 1 5 3 4 Bilateral 1 16 40 15 0 0 0 0 0 0 Concessional 1 11 1 0 0 0 0 0 0 0 Private creditors 4 12 285 0 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 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 4 6 3 3 0 2 48 6 6 IDA 0 0 0 0 0 0 1 5 2 2 NET FLOWS ON DEBT 13 488 -43 -30 -7 0 -5 -17 -8 0 Public and publicly guaranteed 13 488 -43 -30 -7 0 -5 -17 -8 0 Official creditors 14 88 57 -30 -7 0 -5 -16 -8 0 Multilateral -1 17 -19 -16 -7 0 -5 -16 -8 0 Concessional 0 10 0 1 0 0 -1 32 -1 20 Bilateral 15 71 76 -14 0 0 0 0 0 0 Concessional 14 28 113 2 0 0 0 0 0 0 Private creditors -1 400 -100 0 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 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 -4 -3 -3 0 -2 -48 -6 -6 IDA 0 1 0 1 0 0 -1 32 0 21 158 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 3 37 120 40 6 0 7 26 3 28 Public and publicly guaranteed 3 37 120 40 6 0 7 26 3 28 Official creditors 3 25 68 40 6 0 7 26 3 28 Multilateral 2 6 30 37 6 0 7 26 3 23 Concessional 0 1 1 1 1 0 1 4 2 3 Bilateral 1 19 38 3 0 0 0 0 0 5 Concessional 1 11 28 0 0 0 0 0 0 1 Private creditors 1 12 52 0 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 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 4 12 1 1 0 1 22 1 1 IDA 0 0 1 0 1 0 1 4 2 2 NET TRANSFERS ON DEBT 10 451 -163 -70 -13 0 -12 -43 -11 -28 Public and publicly guaranteed 10 451 -163 -70 -13 0 -12 -43 -11 -28 Official creditors 11 63 -12 -70 -13 0 -12 -42 -11 -28 Multilateral -3 12 -50 -53 -13 0 -12 -42 -11 -23 Concessional 0 10 -2 0 -1 0 -2 28 -3 17 Bilateral 14 52 38 -17 0 0 0 0 0 -5 Concessional 14 17 84 2 0 0 0 0 0 -1 Private creditors -2 387 -151 0 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 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 -6 -16 -4 -4 0 -4 -70 -8 -7 IDA 0 1 -1 0 -1 0 -1 28 -2 20 DEBT SERVICE (LTDS) 9 71 475 93 13 0 12 80 13 51 Public and publicly guaranteed 9 71 475 93 13 0 12 80 13 51 Official creditors 5 46 138 93 13 0 12 80 13 51 Multilateral 3 11 60 75 13 0 12 80 13 46 Concessional 0 1 3 1 1 0 2 10 5 6 Bilateral 2 35 78 19 0 0 0 0 0 5 Concessional 2 22 29 0 0 0 0 0 0 1 Private creditors 4 25 337 0 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 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 8 18 4 4 0 4 70 8 7 IDA 0 0 1 1 1 0 1 10 4 4 UNDISBURSED DEBT 42 735 400 226 6 5 5 5 54 65 Official creditors 35 221 338 93 6 5 5 5 54 65 Private creditors 7 514 62 134 0 0 0 0 0 0 Memorandum items Concessional LDOD 75 404 1,739 1,854 1,886 1,730 1,648 1,627 1,800 2,047 Variable rate LDOD 0 82 882 1,047 1,001 967 945 898 930 971 Public sector LDOD 118 1,257 4,200 4,284 4,251 3,934 3,758 3,631 3,974 4,426 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 51.8 Deutsche mark 5.2 1.1 2.4 2.7 2.9 2.7 2.6 .. .. .. French franc 14.1 31.0 51.2 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 6.3 6.3 6.8 6.5 6.6 6.7 6.6 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 26.0 25.9 27.9 29.0 30.2 27.7 25.5 Multiple currency 24.7 3.1 3.9 1.7 0.6 0.6 0.6 0.0 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 21.0 21.6 22.3 22.6 17.7 16.4 15.1 159 CONGO, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 780 91 69 36 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 386 70 53 25 0 0 0 0 Official .. .. 101 70 53 25 0 0 0 0 Private .. .. 285 0 0 0 0 0 0 0 Interest rescheduled .. .. 370 19 16 7 0 0 0 0 Official .. .. 248 19 16 7 0 0 0 0 Private .. .. 121 0 0 0 0 0 0 0 Debt forgiven .. .. 0 37 35 17 0 0 0 0 Memo: interest forgiven .. .. 0 4 4 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 .. .. 668 -170 48 -86 -146 -396 662 364 Net flows on debt 13 541 93 96 -66 154 -52 -341 158 -258 Net change in interest arrears .. .. -167 89 139 77 79 57 150 168 Interest capitalized .. .. 370 19 16 7 0 0 0 0 Debt forgiveness or reduction .. .. 0 -37 -35 -17 0 0 0 0 Cross-currency valuation .. .. 321 -432 36 -305 -163 -117 340 444 Residual .. .. 52 95 -42 -2 -10 6 14 10 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.8 7.6 5.1 0.0 0.0 0.0 0.0 0.8 0.8 0.8 Maturity (years) 18.3 11.1 15.7 0.0 0.0 0.0 0.0 39.8 39.4 39.6 Grace period (years) 6.5 3.2 6.8 0.0 0.0 0.0 0.0 10.3 9.9 10.1 Grant element (%) 49.5 13.1 32.0 0.0 0.0 0.0 0.0 80.7 80.2 80.4 Official creditors Interest (%) 2.3 3.5 4.3 0.0 0.0 0.0 0.0 0.8 0.8 0.8 Maturity (years) 19.6 25.3 16.9 0.0 0.0 0.0 0.0 39.8 39.4 39.6 Grace period (years) 6.6 6.7 7.2 0.0 0.0 0.0 0.0 10.3 9.9 10.1 Grant element (%) 53.6 46.5 37.3 0.0 0.0 0.0 0.0 80.7 80.2 80.4 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 43 47 28 Official creditors 23 165 165 0 0 0 0 43 47 28 Private creditors 9 801 27 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 13 14 13 10 7 4 3 1 0 0 Principal 222 222 214 139 130 131 54 52 56 60 Interest 65 56 46 37 30 23 17 16 14 13 Official creditors Disbursements 13 14 13 10 7 4 3 1 0 0 Principal 222 222 214 139 130 131 54 52 56 60 Interest 65 56 46 37 30 23 17 16 14 13 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 187 189 183 110 111 113 36 33 36 40 Interest 58 50 42 34 27 20 15 13 12 11 Multilateral creditors Disbursements 13 14 13 10 7 4 3 1 0 0 Principal 35 33 31 29 19 18 18 19 20 20 Interest 7 6 4 4 3 3 3 3 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 0 160 COSTA RICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 287 2,744 3,756 3,478 3,960 4,216 4,456 4,650 4,834 5,424 Long-term debt (LDOD) 246 2,112 3,367 2,940 3,270 3,439 3,500 3,489 3,335 3,797 Public and publicly guaranteed 134 1,700 3,063 2,769 3,032 3,195 3,264 3,273 3,139 3,622 Private nonguaranteed 112 412 304 172 237 244 236 216 196 175 Use of IMF credit 0 57 11 0 0 0 0 0 0 0 Short-term debt 41 575 377 538 690 777 956 1,161 1,499 1,626 of which interest arrears on LDOD 0 0 77 29 28 21 20 20 16 16 Official creditors 0 0 76 25 24 17 17 16 16 16 Private creditors 0 0 2 4 4 3 3 3 0 0 Memo: principal arrears on LDOD 0 2 173 77 78 79 78 75 76 77 Official creditors 0 0 167 75 76 77 76 73 74 75 Private creditors 0 2 6 2 2 2 2 2 2 2 Memo: export credits 0 0 297 146 59 87 62 99 180 144 TOTAL DEBT FLOWS Disbursements 62 556 206 278 600 513 508 444 171 885 Long-term debt 60 536 206 278 600 513 508 444 171 885 IMF purchases 2 20 0 0 0 0 0 0 0 0 Principal repayments 45 176 295 358 331 356 387 416 390 525 Long-term debt 41 164 269 358 331 356 387 416 390 525 IMF repurchases 4 12 26 1 0 0 0 0 0 0 Net flows on debt 17 602 -108 84 423 251 300 234 122 487 of which short-term debt 0 222 -20 164 154 94 179 206 341 128 Interest payments (INT) 14 179 206 208 215 194 261 282 280 316 Long-term debt 14 171 171 183 181 154 205 239 239 254 IMF charges 0 4 3 0 0 0 0 0 0 0 Short-term debt 0 4 32 26 34 40 56 43 41 62 Net transfers on debt 2 424 -315 -125 208 57 38 -48 -158 171 Total debt service paid (TDS) 59 354 501 567 546 550 648 697 670 841 Long-term debt 55 335 440 540 512 510 592 654 629 779 IMF repurchases and charges 4 16 29 1 0 0 0 0 0 0 Short-term debt (interest only) 0 4 32 26 34 40 56 43 41 62 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 48 425 210 358 909 800 555 502 465 960 Net flow of long-term debt (ex. IMF) 19 373 -63 -80 269 157 121 28 -220 360 Foreign direct investment (net) 26 53 163 408 613 620 409 454 662 577 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 0 110 30 26 24 25 21 22 24 Memo: technical coop. grants 4 14 73 44 50 24 24 42 29 29 official net resource flows 15 177 188 -88 54 -98 -55 -128 -138 118 private net resource flows 33 248 22 446 854 899 609 630 602 842 NET TRANSFERS 34 234 -21 -3 345 -1,078 -791 -332 -280 -4 Interest on long-term debt 14 171 171 183 181 154 205 239 239 254 Profit remittances on FDI 0 20 60 179 383 1,724 1,141 596 506 710 Memo: official net transfers 11 135 84 -210 -59 -196 -157 -227 -233 30 private net transfers 23 99 -105 207 404 -882 -635 -105 -47 -35 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 969 4,615 5,460 12,580 13,629 13,975 14,694 15,601 16,286 16,579 Exports of goods, serv. & inc. (XGS) .. 1,219 2,094 5,650 7,177 8,553 8,113 7,204 7,692 8,671 Worker remit. & comp. of employees 0 4 12 130 128 126 136 198 251 321 Imports of goods & services (MGS) .. 1,897 2,709 6,141 7,698 9,211 8,793 7,888 8,555 9,545 International reserves (RES) 16 197 525 1,262 1,064 1,461 1,318 1,330 1,497 1,837 Current account balance .. -664 -424 -481 -521 -666 -707 -713 -916 -967 4. DEBT INDICATORS EDT / XGS (%) .. 225.2 179.4 61.6 55.2 49.3 54.9 64.5 62.8 62.5 EDT / GNI (%) 29.6 59.5 68.8 27.6 29.1 30.2 30.3 29.8 29.7 32.7 TDS / XGS (%) .. 29.1 23.9 10.0 7.6 6.4 8.0 9.7 8.7 9.7 INT / XGS (%) .. 14.7 9.9 3.7 3.0 2.3 3.2 3.9 3.6 3.6 INT / GNI (%) 1.5 3.9 3.8 1.7 1.6 1.4 1.8 1.8 1.7 1.9 RES / EDT (%) 5.7 7.2 14.0 36.3 26.9 34.7 29.6 28.6 31.0 33.9 RES / MGS (months) .. 1.2 2.3 2.5 1.7 1.9 1.8 2.0 2.1 2.3 Short-term / EDT (%) 14.3 21.0 10.0 15.5 17.4 18.4 21.4 25.0 31.0 30.0 Concessional / EDT (%) 16.2 9.1 23.6 21.0 17.4 15.7 13.1 11.4 10.3 9.4 Multilateral / EDT (%) 19.9 16.4 30.4 36.8 34.8 32.1 29.1 27.8 26.0 27.0 161 COSTA RICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 246 2,112 3,367 2,940 3,270 3,439 3,500 3,489 3,335 3,797 Public and publicly guaranteed 134 1,700 3,063 2,769 3,032 3,195 3,264 3,273 3,139 3,622 Official creditors 96 791 2,359 2,070 2,158 2,049 1,909 1,718 1,624 1,820 Multilateral 57 450 1,141 1,280 1,377 1,351 1,295 1,294 1,256 1,466 Concessional 11 121 246 192 186 191 182 187 197 214 Bilateral 39 341 1,218 791 782 697 615 424 368 354 Concessional 36 128 642 537 504 471 399 344 301 296 Private creditors 38 909 704 698 874 1,146 1,355 1,555 1,515 1,802 Bonds 1 141 609 605 789 1,072 1,292 1,500 1,456 1,661 Commercial banks 20 712 41 61 55 45 36 28 34 118 Other private 17 55 54 32 31 29 26 27 25 23 Private nonguaranteed 112 412 304 172 237 244 236 216 196 175 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 112 412 304 172 237 244 236 216 196 175 Memo: IBRD 36 178 409 191 172 149 121 102 91 80 IDA 5 5 3 2 2 2 2 2 1 1 DISBURSEMENTS 60 536 206 278 600 513 508 444 171 885 Public and publicly guaranteed 30 435 201 278 513 485 499 444 171 885 Official creditors 19 200 170 191 311 183 249 194 155 319 Multilateral 12 97 89 183 219 169 130 181 145 298 Concessional 4 42 13 19 9 16 10 18 23 20 Bilateral 7 103 81 8 92 14 118 13 10 21 Concessional 7 20 76 6 9 13 10 13 10 4 Private creditors 10 235 31 87 202 301 250 250 15 565 Bonds 0 97 0 50 200 300 250 250 0 450 Commercial banks 6 120 30 36 0 0 0 0 15 115 Other private 4 17 1 1 2 1 0 0 0 0 Private nonguaranteed 30 102 5 0 87 28 9 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 30 102 5 0 87 28 9 0 0 0 Memo: IBRD 5 29 5 20 20 12 6 8 12 7 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 41 164 269 358 331 356 387 416 390 525 Public and publicly guaranteed 21 76 263 336 309 334 370 396 370 504 Official creditors 7 22 92 309 283 305 328 342 315 225 Multilateral 3 15 79 159 161 192 149 151 234 155 Concessional 0 2 10 13 15 15 15 14 12 16 Bilateral 4 7 14 150 122 114 179 191 81 70 Concessional 3 3 3 79 63 62 61 57 68 43 Private creditors 14 53 171 27 27 29 42 54 55 279 Bonds 1 0 42 10 16 17 30 42 44 246 Commercial banks 12 41 124 14 7 10 9 9 10 32 Other private 1 12 5 3 4 3 3 2 2 2 Private nonguaranteed 20 88 6 21 21 21 17 20 20 21 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 20 88 6 21 21 21 17 20 20 21 Memo: IBRD 2 7 45 54 40 34 33 27 23 18 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 19 373 -63 -80 269 157 121 28 -220 360 Public and publicly guaranteed 9 359 -62 -58 204 150 129 48 -200 380 Official creditors 12 178 78 -118 28 -122 -80 -148 -160 94 Multilateral 9 82 11 24 58 -22 -19 30 -89 143 Concessional 4 40 4 6 -7 1 -5 5 10 3 Bilateral 3 96 67 -142 -30 -100 -61 -178 -71 -49 Concessional 4 17 73 -73 -54 -49 -51 -44 -57 -39 Private creditors -3 182 -139 60 176 272 209 196 -39 286 Bonds -1 97 -42 40 184 283 220 208 -44 204 Commercial banks -5 79 -94 21 -7 -10 -9 -9 6 83 Other private 3 5 -4 -2 -2 -1 -3 -2 -2 -2 Private nonguaranteed 10 14 -1 -21 65 7 -8 -20 -20 -21 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 10 14 -1 -21 65 7 -8 -20 -20 -21 Memo: IBRD 3 23 -40 -34 -21 -23 -27 -19 -11 -12 IDA 0 0 0 0 0 0 0 0 0 0 162 COSTA RICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 14 171 171 183 181 154 205 239 239 254 Public and publicly guaranteed 7 130 169 167 162 141 189 224 226 243 Official creditors 4 42 104 122 114 98 102 100 95 88 Multilateral 3 27 77 86 85 83 82 83 83 77 Concessional 0 3 5 3 4 3 3 3 5 6 Bilateral 1 15 27 36 29 15 20 17 12 11 Concessional 1 3 9 20 17 6 14 12 11 10 Private creditors 3 88 65 44 48 43 87 124 131 156 Bonds 0 6 24 37 39 37 80 116 123 147 Commercial banks 2 78 36 4 6 3 4 4 5 4 Other private 1 4 5 4 4 3 3 4 4 4 Private nonguaranteed 7 41 2 16 19 13 16 14 12 11 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 7 41 2 16 19 13 16 14 12 11 Memo: IBRD 2 15 33 16 12 13 12 10 8 6 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 5 202 -234 -262 88 3 -84 -211 -458 105 Public and publicly guaranteed 2 229 -231 -225 42 9 -61 -176 -426 137 Official creditors 8 135 -26 -240 -86 -220 -182 -248 -255 7 Multilateral 6 54 -67 -63 -26 -105 -101 -53 -172 66 Concessional 3 37 -1 3 -10 -2 -8 1 6 -3 Bilateral 2 81 40 -177 -59 -115 -81 -195 -83 -60 Concessional 3 14 64 -94 -71 -55 -65 -56 -68 -49 Private creditors -6 94 -204 15 128 229 121 72 -171 130 Bonds -1 91 -66 4 145 246 140 91 -166 57 Commercial banks -7 2 -130 17 -12 -13 -13 -13 1 79 Other private 2 1 -9 -6 -5 -4 -6 -6 -6 -6 Private nonguaranteed 3 -28 -3 -38 46 -6 -24 -34 -32 -32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 -28 -3 -38 46 -6 -24 -34 -32 -32 Memo: IBRD 1 8 -73 -50 -33 -35 -39 -29 -19 -18 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 55 335 440 540 512 510 592 654 629 779 Public and publicly guaranteed 28 206 432 503 471 476 559 620 596 748 Official creditors 11 65 196 431 396 403 430 442 410 313 Multilateral 6 43 156 246 245 274 231 234 317 231 Concessional 0 5 15 17 19 19 18 17 17 23 Bilateral 5 22 40 186 151 129 199 208 93 81 Concessional 4 6 12 99 80 68 75 69 79 53 Private creditors 16 141 236 72 75 73 129 178 186 435 Bonds 1 6 66 46 55 54 110 159 166 393 Commercial banks 14 119 160 18 12 13 13 13 14 37 Other private 2 16 10 7 8 5 6 6 6 6 Private nonguaranteed 28 129 8 38 41 34 33 34 32 32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 28 129 8 38 41 34 33 34 32 32 Memo: IBRD 4 21 78 70 52 47 45 37 31 24 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 95 797 1,053 1,028 762 564 655 730 648 589 Official creditors 93 623 1,038 1,023 761 564 655 592 499 411 Private creditors 2 174 15 4 2 0 0 137 149 178 Memorandum items Concessional LDOD 47 249 888 729 690 662 582 530 498 510 Variable rate LDOD 122 1,203 1,061 881 994 972 877 799 793 998 Public sector LDOD 130 1,655 3,059 2,767 3,031 3,193 3,263 3,272 3,138 3,621 Private sector LDOD 116 457 308 173 239 245 237 217 197 176 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 1.5 1.7 1.6 Deutsche mark 2.0 3.1 2.6 1.3 1.0 0.6 0.4 .. .. .. French franc 0.0 0.2 1.0 0.2 0.2 0.1 0.1 .. .. .. Japanese yen 0.0 0.5 3.0 6.0 5.7 5.6 4.5 3.7 3.8 3.4 Pound sterling 2.8 0.5 0.2 0.1 0.0 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 58.7 67.9 72.3 77.4 81.0 81.3 84.9 Multiple currency 28.2 18.2 31.4 32.1 23.2 19.5 16.1 13.6 12.8 9.8 Special drawing rights 0.0 0.0 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 All other currencies 0.0 7.6 3.4 1.5 1.8 1.7 1.4 0.2 0.2 0.2 163 COSTA RICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 0 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 -13 482 256 240 194 184 590 Net flows on debt 17 602 -108 84 423 251 300 234 122 487 Net change in interest arrears .. .. -308 0 -1 -7 0 -1 -3 0 Interest capitalized .. .. 151 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -668 -2 0 0 0 0 0 0 Cross-currency valuation .. .. 52 -112 -6 5 -29 -63 57 66 Residual .. .. 47 17 66 7 -31 24 9 37 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.6 11.2 6.9 7.3 7.3 9.3 7.9 7.2 5.6 6.4 Maturity (years) 27.7 13.3 15.4 12.7 4.0 10.1 11.3 12.0 22.2 8.0 Grace period (years) 6.3 5.0 4.4 2.7 4.0 10.1 9.9 6.1 2.1 5.0 Grant element (%) 33.6 -1.2 18.2 12.7 6.8 4.1 3.5 14.0 26.8 12.9 Official creditors Interest (%) 5.3 7.2 6.4 6.8 5.3 0.0 6.3 5.9 5.5 5.7 Maturity (years) 29.8 18.3 17.6 14.9 1.1 0.0 4.3 17.2 26.6 8.3 Grace period (years) 7.2 6.3 5.0 3.7 1.1 0.0 1.8 2.0 2.1 2.3 Grant element (%) 37.3 19.4 21.1 16.6 4.6 0.0 6.2 22.5 30.2 12.8 Private creditors Interest (%) 7.1 15.8 9.5 8.4 8.0 9.3 10.0 7.7 5.9 6.7 Maturity (years) 14.8 7.6 3.2 7.8 5.1 10.1 20.4 10.3 12.3 7.8 Grace period (years) 0.9 3.6 1.1 0.7 5.1 10.1 20.4 7.4 2.3 6.1 Grant element (%) 12.2 -24.4 2.2 4.3 7.7 4.1 0.0 11.1 19.1 13.0 Memorandum items Commitments 58 625 230 266 275 300 574 519 90 828 Official creditors 49 330 195 182 75 0 324 132 62 232 Private creditors 8 295 36 84 200 300 250 387 28 596 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 244 170 86 40 24 15 8 1 1 1 Principal 389 378 344 320 472 580 231 441 152 398 Interest 243 231 215 199 177 143 116 93 74 56 Official creditors Disbursements 146 117 65 34 24 15 8 1 1 1 Principal 278 273 242 221 173 181 144 116 110 106 Interest 89 80 69 58 49 41 33 27 21 16 Bilateral creditors Disbursements 5 5 3 3 2 2 0 0 0 0 Principal 71 38 29 27 26 25 23 17 13 13 Interest 9 7 6 5 4 3 3 2 1 1 Multilateral creditors Disbursements 140 112 62 31 22 13 7 1 1 1 Principal 206 235 213 194 148 156 121 99 97 92 Interest 80 73 63 53 45 37 31 25 20 15 Private creditors Disbursements 98 53 21 6 0 0 0 0 0 0 Principal 111 105 102 99 299 399 87 325 42 292 Interest 154 151 146 141 128 102 82 67 53 40 Commercial banks Disbursements 98 53 21 6 0 0 0 0 0 0 Principal 43 38 32 29 29 29 29 29 16 16 Interest 9 9 8 7 6 5 4 3 2 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 69 67 70 70 270 370 58 296 26 276 Interest 145 142 138 133 122 97 78 64 51 39 164 COTE D'IVOIRE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 374 7,462 17,251 15,609 14,852 13,170 12,138 11,618 11,791 12,187 Long-term debt (LDOD) 267 6,339 13,223 12,498 12,632 11,295 10,546 9,975 10,369 10,844 Public and publicly guaranteed 256 4,327 10,665 10,427 10,800 9,699 9,063 8,603 9,110 9,701 Private nonguaranteed 11 2,012 2,558 2,071 1,833 1,596 1,482 1,372 1,259 1,144 Use of IMF credit 0 65 431 450 644 620 549 464 491 425 Short-term debt 107 1,059 3,597 2,661 1,576 1,256 1,043 1,179 932 917 of which interest arrears on LDOD 0 0 819 87 9 8 79 376 267 359 Official creditors 0 0 66 78 0 0 70 216 60 115 Private creditors 0 0 753 9 9 8 8 160 207 245 Memo: principal arrears on LDOD 0 0 1,727 147 49 45 169 466 284 374 Official creditors 0 0 16 98 1 1 125 375 179 222 Private creditors 0 0 1,710 48 48 43 44 91 105 152 Memo: export credits 0 0 3,560 2,749 1,584 1,277 1,328 1,318 1,456 1,552 TOTAL DEBT FLOWS Disbursements 82 1,777 1,172 236 613 247 148 12 299 57 Long-term debt 82 1,739 1,019 236 445 247 148 12 223 57 IMF purchases 0 38 153 0 168 0 0 0 76 0 Principal repayments 30 722 621 838 670 832 481 369 522 430 Long-term debt 30 722 498 816 670 823 442 302 436 325 IMF repurchases 0 0 123 22 0 8 39 67 86 105 Net flows on debt 51 1,257 1,189 412 -1,064 -904 -617 -518 -362 -480 of which short-term debt 0 202 639 1,015 -1,007 -319 -283 -161 -139 -106 Interest payments (INT) 12 685 641 521 713 618 539 252 309 142 Long-term debt 12 590 443 413 615 544 462 215 280 121 IMF charges 0 0 31 3 3 3 3 3 3 2 Short-term debt 0 95 167 105 96 70 74 34 26 18 Net transfers on debt 39 572 548 -109 -1,778 -1,521 -1,156 -770 -671 -622 Total debt service paid (TDS) 43 1,407 1,262 1,360 1,383 1,449 1,020 621 831 572 Long-term debt 43 1,312 941 1,229 1,285 1,367 904 518 716 446 IMF repurchases and charges 0 0 155 25 3 11 42 69 89 107 Short-term debt (interest only) 0 95 167 105 96 70 74 34 26 18 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 94 1,139 855 148 677 120 180 200 676 200 Net flow of long-term debt (ex. IMF) 51 1,017 521 -580 -225 -577 -294 -291 -213 -268 Foreign direct investment (net) 31 95 48 415 380 324 235 273 213 180 Portfolio equity flows 0 0 0 9 9 6 1 2 4 4 Grants (excluding technical coop.) 12 27 287 304 513 367 238 216 673 284 Memo: technical coop. grants 21 100 129 100 95 85 73 70 78 76 official net resource flows 46 203 798 159 548 74 103 35 575 131 private net resource flows 48 936 57 -12 129 46 77 165 102 69 NET TRANSFERS 82 361 338 -492 -230 -758 -566 -285 113 -170 Interest on long-term debt 12 590 443 413 615 544 462 215 280 121 Profit remittances on FDI 0 188 75 227 292 334 284 270 284 248 Memo: official net transfers 41 125 611 -109 179 -239 -86 -78 391 38 private net transfers 40 235 -273 -383 -410 -519 -480 -207 -278 -208 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,413 9,680 9,209 11,003 12,021 11,743 9,897 10,102 11,012 12,992 Exports of goods, serv. & inc. (XGS) .. 3,640 3,561 5,192 5,390 5,411 4,512 4,661 6,001 6,724 Worker remit. & comp. of employees 0 32 44 136 143 138 119 116 120 141 Imports of goods & services (MGS) .. 4,761 4,594 4,966 5,287 5,144 4,423 4,412 4,771 5,902 International reserves (RES) 119 46 21 618 855 630 668 1,019 1,863 2,230 Current account balance .. -1,826 -1,214 -155 -290 -120 -241 -61 768 353 4. DEBT INDICATORS EDT / XGS (%) .. 205.0 484.5 300.6 275.5 243.4 269.0 249.3 196.5 181.3 EDT / GNI (%) 26.4 77.1 187.3 141.9 123.6 112.2 122.6 115.0 107.1 93.8 TDS / XGS (%) .. 38.7 35.4 26.2 25.7 26.8 22.6 13.3 13.9 8.5 INT / XGS (%) .. 18.8 18.0 10.0 13.2 11.4 11.9 5.4 5.1 2.1 INT / GNI (%) 0.9 7.1 7.0 4.7 5.9 5.3 5.4 2.5 2.8 1.1 RES / EDT (%) 31.8 0.6 0.1 4.0 5.8 4.8 5.5 8.8 15.8 18.3 RES / MGS (months) .. 0.1 0.1 1.5 1.9 1.5 1.8 2.8 4.7 4.5 Short-term / EDT (%) 28.6 14.2 20.8 17.0 10.6 9.5 8.6 10.1 7.9 7.5 Concessional / EDT (%) 32.5 5.9 17.9 28.9 33.3 33.5 34.0 33.4 38.4 40.9 Multilateral / EDT (%) 3.8 7.0 20.8 21.1 23.5 23.9 24.4 23.7 25.8 27.0 165 COTE D'IVOIRE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 267 6,339 13,223 12,498 12,632 11,295 10,546 9,975 10,369 10,844 Public and publicly guaranteed 256 4,327 10,665 10,427 10,800 9,699 9,063 8,603 9,110 9,701 Official creditors 143 1,247 7,686 7,906 8,302 7,256 6,669 6,211 6,752 7,341 Multilateral 14 523 3,585 3,301 3,491 3,148 2,958 2,758 3,040 3,289 Concessional 8 69 1,149 1,434 1,711 1,679 1,676 1,622 1,973 2,146 Bilateral 129 724 4,101 4,605 4,812 4,108 3,711 3,453 3,712 4,052 Concessional 114 369 1,946 3,070 3,232 2,739 2,450 2,257 2,553 2,841 Private creditors 112 3,080 2,980 2,521 2,497 2,443 2,394 2,392 2,358 2,359 Bonds 21 15 0 2,457 2,434 2,389 2,343 2,343 2,343 2,343 Commercial banks 32 1,611 2,640 16 17 15 14 14 0 1 Other private 59 1,454 340 48 46 40 37 35 15 16 Private nonguaranteed 11 2,012 2,558 2,071 1,833 1,596 1,482 1,372 1,259 1,144 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 11 2,012 2,558 2,071 1,833 1,596 1,482 1,372 1,259 1,144 Memo: IBRD 4 306 1,913 1,044 942 708 599 499 479 481 IDA 0 8 7 1,100 1,337 1,360 1,366 1,318 1,589 1,786 DISBURSEMENTS 82 1,739 1,019 236 445 247 148 12 223 57 Public and publicly guaranteed 78 1,414 769 185 393 194 148 12 223 57 Official creditors 43 231 758 185 389 191 148 12 223 57 Multilateral 12 136 460 181 299 111 148 12 223 57 Concessional 8 8 21 147 253 75 131 10 211 55 Bilateral 31 95 298 3 90 80 0 0 0 0 Concessional 25 34 283 3 59 66 0 0 0 0 Private creditors 35 1,183 11 0 4 3 0 0 0 0 Bonds 6 0 0 0 0 0 0 0 0 0 Commercial banks 7 634 2 0 0 0 0 0 0 0 Other private 22 550 9 0 4 3 0 0 0 0 Private nonguaranteed 4 325 250 52 52 53 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 325 250 52 52 53 0 0 0 0 Memo: IBRD 3 86 261 0 0 0 0 0 0 0 IDA 0 0 0 140 190 53 76 5 174 52 PRINCIPAL REPAYMENTS 30 722 498 816 670 823 442 302 436 325 Public and publicly guaranteed 28 517 319 525 380 533 329 192 322 210 Official creditors 9 55 247 329 354 484 283 192 322 210 Multilateral 0 17 230 264 255 238 143 106 229 99 Concessional 0 2 70 44 42 42 34 3 16 12 Bilateral 9 38 16 65 99 246 140 86 93 111 Concessional 6 16 5 24 64 174 97 67 79 98 Private creditors 19 462 72 196 26 49 46 0 1 0 Bonds 2 0 1 0 23 46 46 0 0 0 Commercial banks 2 301 25 193 0 0 0 0 0 0 Other private 15 161 46 3 3 3 0 0 1 0 Private nonguaranteed 2 205 179 292 290 290 113 110 114 115 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 205 179 292 290 290 113 110 114 115 Memo: IBRD 0 7 125 158 139 121 57 72 90 82 IDA 0 0 0 0 0 0 0 0 13 8 NET FLOWS ON DEBT 51 1,017 521 -580 -225 -577 -294 -291 -213 -268 Public and publicly guaranteed 49 897 450 -340 13 -340 -181 -181 -99 -153 Official creditors 34 176 511 -144 35 -294 -135 -181 -98 -153 Multilateral 12 120 229 -83 44 -127 5 -94 -6 -42 Concessional 8 6 -49 103 212 33 97 7 196 43 Bilateral 22 57 282 -62 -9 -167 -140 -86 -93 -111 Concessional 19 18 278 -20 -5 -108 -97 -67 -79 -98 Private creditors 15 721 -62 -196 -22 -46 -46 0 -1 0 Bonds 3 0 -1 0 -23 -46 -46 0 0 0 Commercial banks 5 332 -23 -193 0 0 0 0 0 0 Other private 7 389 -37 -3 1 -1 0 0 -1 0 Private nonguaranteed 2 120 71 -240 -238 -237 -113 -110 -114 -115 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 120 71 -240 -238 -237 -113 -110 -114 -115 Memo: IBRD 3 78 136 -158 -139 -121 -57 -72 -90 -82 IDA 0 0 0 140 190 53 75 5 161 44 166 COTE D'IVOIRE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 12 590 443 413 615 544 462 215 280 121 Public and publicly guaranteed 12 353 205 270 506 458 342 113 184 92 Official creditors 4 77 187 269 369 313 189 113 184 92 Multilateral 0 32 176 165 140 129 78 70 144 47 Concessional 0 1 3 10 11 12 11 9 19 13 Bilateral 4 45 12 103 229 184 111 44 40 46 Concessional 3 13 2 65 134 106 47 38 36 43 Private creditors 7 275 18 1 137 146 153 0 0 0 Bonds 1 1 0 0 136 145 153 0 0 0 Commercial banks 3 176 7 0 0 0 0 0 0 0 Other private 4 98 12 1 1 1 0 0 0 0 Private nonguaranteed 0 237 237 143 109 86 120 102 96 29 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 237 237 143 109 86 120 102 96 29 Memo: IBRD 0 22 141 87 69 57 32 38 49 31 IDA 0 0 0 8 8 10 8 8 15 11 NET TRANSFERS ON DEBT 39 427 78 -993 -840 -1,121 -756 -506 -493 -390 Public and publicly guaranteed 38 544 245 -610 -493 -798 -523 -294 -283 -246 Official creditors 29 99 324 -413 -334 -606 -324 -294 -282 -246 Multilateral 11 87 54 -248 -96 -256 -73 -164 -149 -89 Concessional 8 6 -52 93 201 20 86 -2 177 30 Bilateral 18 11 271 -165 -238 -350 -251 -130 -133 -157 Concessional 15 5 276 -85 -139 -214 -144 -105 -115 -140 Private creditors 8 446 -80 -197 -159 -192 -198 0 -1 0 Bonds 2 -2 -1 0 -159 -190 -198 0 0 0 Commercial banks 2 156 -30 -193 0 0 0 0 0 0 Other private 3 291 -49 -4 0 -2 0 0 -1 0 Private nonguaranteed 2 -117 -167 -383 -347 -323 -233 -212 -210 -144 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 -117 -167 -383 -347 -323 -233 -212 -210 -144 Memo: IBRD 3 56 -4 -245 -209 -178 -90 -110 -139 -114 IDA 0 0 0 132 181 43 68 -3 146 33 DEBT SERVICE (LTDS) 43 1,312 941 1,229 1,285 1,367 904 518 716 446 Public and publicly guaranteed 40 870 524 794 886 992 671 306 507 303 Official creditors 13 133 434 597 723 797 472 306 506 303 Multilateral 1 49 406 429 394 367 221 176 373 145 Concessional 0 3 73 54 52 55 45 12 35 24 Bilateral 13 83 28 168 328 430 251 130 133 157 Concessional 9 29 7 88 198 280 144 105 115 140 Private creditors 27 738 90 197 163 195 198 0 1 0 Bonds 3 2 1 0 159 190 198 0 0 0 Commercial banks 5 477 32 193 0 0 0 0 0 0 Other private 19 259 58 4 5 4 0 0 1 0 Private nonguaranteed 2 442 417 435 399 376 233 212 210 144 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 442 417 435 399 376 233 212 210 144 Memo: IBRD 0 29 266 245 209 178 90 110 139 114 IDA 0 0 0 8 9 10 8 8 28 20 UNDISBURSED DEBT 169 1,723 1,221 892 930 728 495 448 575 522 Official creditors 108 747 1,122 885 926 727 495 448 575 522 Private creditors 61 976 99 8 4 1 0 0 0 0 Memorandum items Concessional LDOD 121 438 3,096 4,503 4,943 4,418 4,126 3,880 4,526 4,987 Variable rate LDOD 34 3,600 7,400 6,598 6,043 5,418 5,053 4,803 4,896 4,937 Public sector LDOD 255 4,277 10,663 10,427 10,800 9,699 9,063 8,603 9,110 9,701 Private sector LDOD 11 2,061 2,560 2,071 1,833 1,596 1,482 1,372 1,259 1,144 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 33.0 31.5 31.8 Deutsche mark 10.5 4.5 3.9 3.5 3.5 3.1 2.9 .. .. .. French franc 47.7 34.6 38.1 27.1 27.9 25.9 25.0 .. .. .. Japanese yen 0.0 0.6 0.9 1.1 1.2 1.5 1.4 1.3 1.2 1.2 Pound sterling 0.0 1.4 1.3 0.8 0.7 0.6 0.6 0.5 0.4 0.4 Swiss franc 0.0 6.3 2.3 0.2 0.2 0.2 0.2 0.2 0.1 0.1 U.S.dollars 25.4 31.5 15.5 40.9 49.4 52.0 53.7 54.6 56.8 56.9 Multiple currency 2.1 9.9 22.7 16.3 6.4 6.4 6.1 5.9 5.1 5.3 Special drawing rights 0.0 0.0 0.4 0.2 0.3 0.3 0.4 0.4 0.4 0.4 All other currencies 14.3 11.2 14.9 9.8 10.5 9.9 9.6 4.1 4.5 4.0 167 COTE D'IVOIRE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 930 2,612 319 67 72 40 325 197 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 590 138 265 34 45 28 173 107 Official .. .. 407 58 264 33 44 28 165 107 Private .. .. 183 80 1 0 0 0 7 0 Interest rescheduled .. .. 286 875 54 30 24 11 153 91 Official .. .. 257 8 53 30 24 11 151 91 Private .. .. 29 867 0 0 0 0 1 0 Debt forgiven .. .. 50 0 103 16 22 12 323 185 Memo: interest forgiven .. .. 0 0 20 8 7 2 140 79 Debt stock reduction .. .. 0 4,053 0 0 0 0 0 0 of which debt buyback .. .. 0 163 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 2,430 -3,915 -757 -1,682 -1,032 -520 173 395 Net flows on debt 51 1,257 1,189 412 -1,064 -904 -617 -518 -362 -480 Net change in interest arrears .. .. 62 -866 -78 -1 71 297 -109 92 Interest capitalized .. .. 286 875 54 30 24 11 153 91 Debt forgiveness or reduction .. .. -50 -3,890 -103 -16 -22 -12 -323 -185 Cross-currency valuation .. .. 829 -1,715 -327 -783 -468 -278 814 940 Residual .. .. 115 1,269 762 -7 -20 -20 0 -64 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.8 11.4 5.9 1.7 0.5 0.8 0.8 0.0 0.8 0.0 Maturity (years) 18.6 10.3 20.0 30.2 37.6 48.4 46.2 0.0 42.6 0.0 Grace period (years) 5.4 4.5 6.3 8.4 9.1 10.4 9.6 0.0 9.9 0.0 Grant element (%) 26.1 -5.6 27.5 65.8 78.5 82.9 81.7 0.0 81.0 0.0 Official creditors Interest (%) 4.9 6.2 5.9 1.6 0.5 0.8 0.8 0.0 0.8 0.0 Maturity (years) 22.5 18.8 20.0 30.9 37.6 48.4 46.2 0.0 42.6 0.0 Grace period (years) 7.4 5.7 6.3 8.6 9.1 10.4 9.6 0.0 9.9 0.0 Grant element (%) 35.3 25.4 27.5 67.3 78.5 82.9 81.7 0.0 81.0 0.0 Private creditors Interest (%) 7.4 11.9 0.0 5.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 12.1 9.5 0.0 6.2 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 2.1 4.4 0.0 0.6 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 10.9 -8.5 0.0 10.7 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 70 1,688 764 241 401 32 72 0 315 0 Official creditors 44 144 764 235 401 32 72 0 315 0 Private creditors 26 1,544 0 6 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 277 77 55 36 30 19 13 7 3 2 Principal 972 775 729 737 704 642 569 540 527 465 Interest 251 296 258 222 193 166 144 126 109 94 Official creditors Disbursements 277 77 55 36 30 19 13 7 3 2 Principal 617 512 489 433 423 384 322 305 292 276 Interest 161 222 196 171 150 131 115 103 91 81 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 371 285 267 237 240 224 210 209 198 198 Interest 68 143 131 119 109 99 91 82 73 65 Multilateral creditors Disbursements 277 77 55 36 30 19 13 7 3 2 Principal 246 227 222 196 182 159 112 96 94 77 Interest 93 79 66 52 41 32 24 21 17 16 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 355 263 240 304 281 258 247 235 235 190 Interest 90 74 62 51 43 35 29 23 18 13 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 355 263 240 304 281 258 247 235 235 190 Interest 90 74 62 51 43 35 29 23 18 13 168 CROATIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 7,981 10,470 10,818 11,718 11,961 15,548 23,452 Long-term debt (LDOD) .. .. .. 7,181 9,587 9,933 10,490 10,966 13,277 19,174 Public and publicly guaranteed .. .. .. 4,274 4,925 5,523 6,111 6,424 7,679 10,063 Private nonguaranteed .. .. .. 2,907 4,662 4,410 4,379 4,541 5,598 9,112 Use of IMF credit .. .. .. 233 234 197 158 122 0 0 Short-term debt .. .. .. 568 649 688 1,070 873 2,271 4,278 of which interest arrears on LDOD .. .. .. 29 45 49 45 62 67 102 Official creditors .. .. .. 0 3 5 3 4 2 6 Private creditors .. .. .. 29 41 44 42 58 65 96 Memo: principal arrears on LDOD .. .. .. 180 212 231 209 470 489 674 Official creditors .. .. .. 0 16 0 1 9 0 8 Private creditors .. .. .. 180 196 231 208 461 488 666 Memo: export credits .. .. .. 1,138 1,030 977 554 561 576 697 TOTAL DEBT FLOWS Disbursements .. .. .. 3,448 2,760 2,890 3,309 3,603 3,686 8,840 Long-term debt .. .. .. 3,408 2,760 2,890 3,309 3,603 3,686 8,840 IMF purchases .. .. .. 40 0 0 0 0 0 0 Principal repayments .. .. .. 785 1,334 1,549 2,138 2,684 2,446 2,636 Long-term debt .. .. .. 783 1,325 1,518 2,109 2,654 2,320 2,636 IMF repurchases .. .. .. 2 9 31 29 31 126 0 Net flows on debt .. .. .. 2,790 1,492 1,375 1,557 704 2,634 7,619 of which short-term debt .. .. .. 127 66 35 386 -215 1,394 1,415 Interest payments (INT) .. .. .. 376 474 546 592 660 612 753 Long-term debt .. .. .. 347 429 504 549 621 564 663 IMF charges .. .. .. 10 11 9 9 7 3 0 Short-term debt .. .. .. 19 34 34 34 32 45 90 Net transfers on debt .. .. .. 2,415 1,018 829 964 44 2,022 6,866 Total debt service paid (TDS) .. .. .. 1,161 1,808 2,096 2,730 3,344 3,058 3,389 Long-term debt .. .. .. 1,129 1,754 2,022 2,658 3,274 2,884 3,299 IMF repurchases and charges .. .. .. 12 20 40 38 38 129 0 Short-term debt (interest only) .. .. .. 19 34 34 34 32 45 90 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 3,213 2,404 2,849 2,335 2,589 2,617 8,280 Net flow of long-term debt (ex. IMF) .. .. .. 2,626 1,435 1,372 1,200 950 1,366 6,204 Foreign direct investment (net) .. .. .. 533 932 1,467 1,089 1,559 1,124 1,998 Portfolio equity flows .. .. .. 16 1 -19 0 14 64 15 Grants (excluding technical coop.) .. .. .. 39 36 28 46 67 62 63 Memo: technical coop. grants .. .. .. 18 23 32 31 43 61 73 official net resource flows .. .. .. 173 41 67 114 83 169 249 private net resource flows .. .. .. 3,040 2,363 2,781 2,221 2,506 2,448 8,031 NET TRANSFERS .. .. .. 2,797 1,869 2,275 1,624 1,658 1,710 6,637 Interest on long-term debt .. .. .. 347 429 504 549 621 564 663 Profit remittances on FDI .. .. .. 69 106 70 162 311 344 980 Memo: official net transfers .. .. .. 71 -50 -22 34 0 92 171 private net transfers .. .. .. 2,726 1,919 2,296 1,590 1,658 1,617 6,466 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 20,086 21,464 19,550 18,019 19,346 22,296 27,584 Exports of goods, serv. & inc. (XGS) .. .. .. 8,893 9,445 8,826 9,546 10,622 11,665 16,198 Worker remit. & comp. of employees .. .. .. 617 625 557 644 728 870 1,069 Imports of goods & services (MGS) .. .. .. 12,064 11,098 10,402 10,353 11,745 13,995 18,892 International reserves (RES) .. .. .. 2,539 2,816 3,025 3,524 4,703 5,885 8,191 Current account balance .. .. .. -2,825 -1,468 -1,397 -461 -726 -1,918 -2,085 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 89.7 110.9 122.6 122.8 112.6 133.3 144.8 EDT / GNI (%) .. .. .. 39.7 48.8 55.3 65.0 61.8 69.7 85.0 TDS / XGS (%) .. .. .. 13.0 19.1 23.7 28.6 31.5 26.2 20.9 INT / XGS (%) .. .. .. 4.2 5.0 6.2 6.2 6.2 5.2 4.6 INT / GNI (%) .. .. .. 1.9 2.2 2.8 3.3 3.4 2.7 2.7 RES / EDT (%) .. .. .. 31.8 26.9 28.0 30.1 39.3 37.8 34.9 RES / MGS (months) .. .. .. 2.5 3.0 3.5 4.1 4.8 5.0 5.2 Short-term / EDT (%) .. .. .. 7.1 6.2 6.4 9.1 7.3 14.6 18.2 Concessional / EDT (%) .. .. .. 3.7 3.1 2.9 2.7 2.7 2.5 2.0 Multilateral / EDT (%) .. .. .. 5.9 5.4 5.5 5.1 5.5 5.9 5.5 169 CROATIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 7,181 9,587 9,933 10,490 10,966 13,277 19,174 Public and publicly guaranteed .. .. .. 4,274 4,925 5,523 6,111 6,424 7,679 10,063 Official creditors .. .. .. 1,545 1,583 1,494 1,488 1,480 1,779 2,211 Multilateral .. .. .. 474 568 590 593 654 911 1,299 Concessional .. .. .. 28 55 69 76 90 134 195 Bilateral .. .. .. 1,071 1,015 904 896 826 868 911 Concessional .. .. .. 269 272 247 239 232 250 285 Private creditors .. .. .. 2,729 3,342 4,029 4,623 4,945 5,900 7,852 Bonds .. .. .. 1,962 2,049 2,523 3,136 3,772 4,179 5,315 Commercial banks .. .. .. 441 1,047 1,334 1,211 880 1,427 2,294 Other private .. .. .. 326 246 172 276 293 294 242 Private nonguaranteed .. .. .. 2,907 4,662 4,410 4,379 4,541 5,598 9,112 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 2,907 4,662 4,410 4,379 4,541 5,598 9,112 Memo: IBRD .. .. .. 276 336 387 395 427 588 777 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 3,408 2,760 2,890 3,309 3,603 3,686 8,840 Public and publicly guaranteed .. .. .. 1,499 1,044 1,215 1,513 1,413 1,667 2,016 Official creditors .. .. .. 277 178 162 219 133 259 376 Multilateral .. .. .. 176 161 128 83 100 217 316 Concessional .. .. .. 14 29 23 9 11 23 35 Bilateral .. .. .. 101 17 34 136 33 42 60 Concessional .. .. .. 2 6 10 17 14 9 25 Private creditors .. .. .. 1,223 866 1,053 1,293 1,280 1,408 1,640 Bonds .. .. .. 531 101 539 833 1,024 672 781 Commercial banks .. .. .. 326 720 402 307 181 675 817 Other private .. .. .. 367 46 111 153 75 61 41 Private nonguaranteed .. .. .. 1,909 1,717 1,675 1,796 2,190 2,019 6,824 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1,909 1,717 1,675 1,796 2,190 2,019 6,824 Memo: IBRD .. .. .. 115 108 87 55 75 135 160 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 783 1,325 1,518 2,109 2,654 2,320 2,636 Public and publicly guaranteed .. .. .. 374 494 338 696 924 1,181 807 Official creditors .. .. .. 142 172 123 151 117 152 190 Multilateral .. .. .. 33 48 48 44 36 60 73 Concessional .. .. .. 0 6 0 0 0 0 0 Bilateral .. .. .. 109 124 75 107 81 92 117 Concessional .. .. .. 16 13 15 15 17 17 24 Private creditors .. .. .. 232 322 215 545 807 1,029 618 Bonds .. .. .. 80 35 24 129 234 699 302 Commercial banks .. .. .. 13 145 150 376 489 246 197 Other private .. .. .. 139 142 42 40 84 85 119 Private nonguaranteed .. .. .. 408 831 1,180 1,413 1,729 1,139 1,829 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 408 831 1,180 1,413 1,729 1,139 1,829 Memo: IBRD .. .. .. 14 17 20 22 18 30 47 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 2,626 1,435 1,372 1,200 950 1,366 6,204 Public and publicly guaranteed .. .. .. 1,125 550 877 817 489 486 1,208 Official creditors .. .. .. 134 6 39 68 16 107 186 Multilateral .. .. .. 143 113 80 39 64 157 243 Concessional .. .. .. 13 23 23 9 11 23 35 Bilateral .. .. .. -8 -107 -41 29 -48 -50 -57 Concessional .. .. .. -14 -7 -5 2 -3 -8 1 Private creditors .. .. .. 991 544 838 748 473 379 1,022 Bonds .. .. .. 451 65 516 704 790 -27 480 Commercial banks .. .. .. 312 575 252 -69 -308 429 620 Other private .. .. .. 227 -96 70 113 -9 -24 -78 Private nonguaranteed .. .. .. 1,501 885 495 383 461 880 4,996 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1,501 885 495 383 461 880 4,996 Memo: IBRD .. .. .. 100 91 67 34 57 105 113 IDA .. .. .. 0 0 0 0 0 0 0 170 CROATIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 347 429 504 549 621 564 663 Public and publicly guaranteed .. .. .. 271 274 358 393 422 378 415 Official creditors .. .. .. 102 91 89 80 83 77 78 Multilateral .. .. .. 31 32 35 32 31 38 42 Concessional .. .. .. 2 1 3 3 2 5 6 Bilateral .. .. .. 71 60 55 48 53 39 37 Concessional .. .. .. 11 9 10 9 11 7 7 Private creditors .. .. .. 169 183 268 313 339 301 337 Bonds .. .. .. 113 129 194 223 251 235 259 Commercial banks .. .. .. 36 30 69 77 74 54 67 Other private .. .. .. 19 23 5 13 15 12 11 Private nonguaranteed .. .. .. 76 155 147 156 198 186 248 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 76 155 147 156 198 186 248 Memo: IBRD .. .. .. 15 17 20 19 19 25 24 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 2,279 1,006 868 651 329 803 5,541 Public and publicly guaranteed .. .. .. 854 276 519 423 66 108 793 Official creditors .. .. .. 32 -86 -50 -12 -67 30 108 Multilateral .. .. .. 112 81 46 7 33 118 201 Concessional .. .. .. 12 22 21 7 9 18 29 Bilateral .. .. .. -79 -167 -96 -19 -101 -88 -93 Concessional .. .. .. -25 -16 -15 -7 -13 -16 -6 Private creditors .. .. .. 822 361 569 435 134 78 685 Bonds .. .. .. 338 -64 322 481 539 -261 220 Commercial banks .. .. .. 276 544 183 -145 -382 375 553 Other private .. .. .. 208 -119 65 100 -24 -36 -89 Private nonguaranteed .. .. .. 1,424 730 349 228 263 695 4,748 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1,424 730 349 228 263 695 4,748 Memo: IBRD .. .. .. 86 75 46 14 38 80 88 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 1,129 1,754 2,022 2,658 3,274 2,884 3,299 Public and publicly guaranteed .. .. .. 645 768 696 1,089 1,347 1,559 1,223 Official creditors .. .. .. 244 263 212 231 200 229 268 Multilateral .. .. .. 64 79 82 76 67 99 115 Concessional .. .. .. 2 7 3 3 2 5 6 Bilateral .. .. .. 180 184 130 156 134 131 153 Concessional .. .. .. 27 23 25 24 27 24 31 Private creditors .. .. .. 401 505 483 858 1,146 1,330 955 Bonds .. .. .. 193 164 218 352 484 933 561 Commercial banks .. .. .. 50 175 219 452 563 300 264 Other private .. .. .. 159 165 47 53 99 97 130 Private nonguaranteed .. .. .. 484 987 1,327 1,569 1,928 1,325 2,077 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 484 987 1,327 1,569 1,928 1,325 2,077 Memo: IBRD .. .. .. 29 33 41 41 37 55 72 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 610 935 1,234 689 1,262 1,043 1,423 Official creditors .. .. .. 422 491 792 435 745 700 943 Private creditors .. .. .. 188 445 442 254 517 344 480 Memorandum items Concessional LDOD .. .. .. 297 327 316 315 323 383 479 Variable rate LDOD .. .. .. 5,596 7,713 7,751 7,665 7,611 9,323 13,703 Public sector LDOD .. .. .. 3,803 4,304 4,795 5,394 5,749 6,997 9,419 Private sector LDOD .. .. .. 3,378 5,284 5,138 5,097 5,217 6,280 9,755 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 47.4 56.2 61.3 Deutsche mark .. .. .. 19.5 21.3 20.4 17.1 .. .. .. French franc .. .. .. 2.1 1.7 1.3 1.0 .. .. .. Japanese yen .. .. .. 0.8 0.5 4.9 9.6 10.9 10.1 10.9 Pound sterling .. .. .. 1.3 1.0 0.8 0.6 0.5 0.4 0.4 Swiss franc .. .. .. 1.3 1.6 1.6 2.0 1.8 1.8 1.4 U.S.dollars .. .. .. 55.6 53.6 49.9 40.8 35.5 28.2 23.5 Multiple currency .. .. .. 5.2 4.9 4.8 4.2 3.6 3.1 2.4 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 14.2 15.4 16.3 24.7 0.3 0.3 0.2 171 CROATIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 16 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 1 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 .. .. .. 2,673 2,489 348 900 242 3,588 7,903 Net flows on debt .. .. .. 2,790 1,492 1,375 1,557 704 2,634 7,619 Net change in interest arrears .. .. .. 8 15 4 -4 17 5 34 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 -1 0 Cross-currency valuation .. .. .. -183 130 -267 -206 -214 662 978 Residual .. .. .. 57 851 -766 -446 -265 287 -1,285 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.3 6.0 6.4 5.8 5.2 4.7 3.2 Maturity (years) .. .. .. 6.9 13.8 8.0 6.3 9.5 8.1 9.5 Grace period (years) .. .. .. 4.2 2.7 3.4 4.7 6.3 4.9 4.2 Grant element (%) .. .. .. 14.7 13.6 13.0 17.8 23.4 22.5 29.7 Official creditors Interest (%) .. .. .. 5.6 3.7 5.7 6.4 4.0 4.1 3.3 Maturity (years) .. .. .. 11.6 13.6 11.1 12.5 14.5 15.9 16.0 Grace period (years) .. .. .. 4.0 5.4 3.9 5.7 4.7 5.2 4.5 Grant element (%) .. .. .. 22.1 35.8 18.3 19.5 34.5 35.7 38.7 Private creditors Interest (%) .. .. .. 6.6 6.4 6.7 5.8 5.6 4.8 3.2 Maturity (years) .. .. .. 5.4 13.8 7.0 5.9 7.9 7.0 7.6 Grace period (years) .. .. .. 4.2 2.2 3.2 4.6 6.8 4.9 4.0 Grant element (%) .. .. .. 12.4 9.8 11.5 17.7 20.0 20.6 27.1 Memorandum items Commitments .. .. .. 1,363 1,284 1,678 1,214 2,061 1,378 2,250 Official creditors .. .. .. 321 189 385 67 478 175 508 Private creditors .. .. .. 1,043 1,095 1,294 1,146 1,583 1,202 1,743 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 538 338 199 119 82 58 35 23 15 7 Principal 2,370 3,113 3,335 2,135 1,809 1,861 1,339 1,666 680 922 Interest 813 721 585 454 363 283 219 126 72 236 Official creditors Disbursements 224 217 158 116 82 58 35 23 15 7 Principal 268 256 294 340 355 364 221 212 163 138 Interest 79 77 72 66 58 47 37 30 23 19 Bilateral creditors Disbursements 44 29 16 8 2 2 0 0 0 0 Principal 152 138 146 154 145 151 28 17 13 13 Interest 29 25 21 16 11 6 2 1 1 0 Multilateral creditors Disbursements 181 188 142 108 79 57 35 23 15 7 Principal 116 118 148 186 210 213 193 195 150 125 Interest 50 52 51 50 47 41 35 29 22 18 Private creditors Disbursements 314 122 41 3 1 0 0 0 0 0 Principal 2,102 2,857 3,042 1,795 1,454 1,497 1,118 1,454 517 784 Interest 734 644 513 388 305 236 183 96 49 217 Commercial banks Disbursements 283 104 34 1 0 0 0 0 0 0 Principal 454 333 324 286 263 168 156 293 175 69 Interest 69 62 61 51 41 33 26 19 10 5 Other private Disbursements 31 18 7 2 1 0 0 0 0 0 Principal 1,647 2,524 2,718 1,509 1,191 1,329 962 1,162 342 714 Interest 666 582 452 337 264 203 157 77 38 212 172 CZECH REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 23,077 24,215 22,797 21,531 22,747 27,551 34,630 Long-term debt (LDOD) .. .. .. 15,009 16,600 14,010 12,514 13,167 16,793 20,654 Public and publicly guaranteed .. .. .. 12,837 11,558 7,683 6,486 5,651 6,977 8,558 Private nonguaranteed .. .. .. 2,172 5,043 6,327 6,028 7,515 9,816 12,096 Use of IMF credit .. .. .. 0 0 0 0 0 0 0 Short-term debt .. .. .. 8,068 7,615 8,787 9,018 9,581 10,758 13,976 of which interest arrears on LDOD .. .. .. 8 11 40 59 50 90 109 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 8 11 40 59 50 90 109 Memo: principal arrears on LDOD .. .. .. 122 48 98 128 127 248 84 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 122 48 98 128 127 248 84 Memo: export credits .. .. .. 1,010 1,176 988 462 389 389 501 TOTAL DEBT FLOWS Disbursements .. .. .. 4,143 5,278 2,881 1,566 2,274 5,057 6,154 Long-term debt .. .. .. 4,143 5,278 2,881 1,566 2,274 5,057 6,154 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 3,331 3,458 4,229 3,443 3,359 3,064 4,272 Long-term debt .. .. .. 3,331 3,458 4,229 3,443 3,359 3,064 4,272 IMF repurchases .. .. .. 0 0 0 0 0 0 0 Net flows on debt .. .. .. 3,166 1,363 -205 -1,664 -514 1,004 3,457 of which short-term debt .. .. .. 2,354 -456 1,143 212 572 -312 1,576 Interest payments (INT) .. .. .. 1,129 1,555 1,634 1,432 1,456 1,363 1,231 Long-term debt .. .. .. 920 1,134 1,214 1,054 1,093 972 863 IMF charges .. .. .. 0 0 0 0 0 0 0 Short-term debt .. .. .. 209 420 420 378 364 391 368 Net transfers on debt .. .. .. 2,037 -191 -1,839 -3,096 -1,970 -390 2,226 Total debt service paid (TDS) .. .. .. 4,460 5,013 5,863 4,874 4,815 4,427 5,504 Long-term debt .. .. .. 4,251 4,592 5,443 4,496 4,452 4,036 5,136 IMF repurchases and charges .. .. .. 0 0 0 0 0 0 0 Short-term debt (interest only) .. .. .. 209 420 420 378 364 391 368 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 2,555 6,672 5,205 3,824 5,264 10,353 5,725 Net flow of long-term debt (ex. IMF) .. .. .. 812 1,820 -1,348 -1,877 -1,085 1,993 1,881 Foreign direct investment (net) .. .. .. 1,287 3,700 6,313 4,987 5,641 8,497 2,514 Portfolio equity flows .. .. .. 378 1,096 120 619 616 -265 1,105 Grants (excluding technical coop.) .. .. .. 78 56 122 94 92 128 225 Memo: technical coop. grants .. .. .. 38 40 27 20 19 32 38 official net resource flows .. .. .. -4 38 163 163 299 120 383 private net resource flows .. .. .. 2,559 6,634 5,042 3,661 4,965 10,233 5,342 NET TRANSFERS .. .. .. 1,578 5,184 2,946 1,391 2,042 6,174 872 Interest on long-term debt .. .. .. 920 1,134 1,214 1,054 1,093 972 863 Profit remittances on FDI .. .. .. 56 354 1,045 1,379 2,129 3,207 3,990 Memo: official net transfers .. .. .. -76 -28 98 98 231 47 306 private net transfers .. .. .. 1,655 5,212 2,849 1,294 1,811 6,127 566 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 55,502 59,720 57,650 54,346 58,678 70,183 85,549 Exports of goods, serv. & inc. (XGS) .. .. .. 30,855 35,263 35,167 37,811 42,728 47,614 59,169 Worker remit. & comp. of employees .. .. .. 85 350 318 297 257 334 500 Imports of goods & services (MGS) .. .. .. 34,842 37,088 37,220 40,873 46,471 52,791 65,370 International reserves (RES) .. .. .. 10,036 12,625 12,936 13,142 14,464 23,707 26,955 Current account balance .. .. .. -3,622 -1,308 -1,466 -2,690 -3,273 -4,265 -5,661 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 74.8 68.7 64.8 56.9 53.2 57.9 58.5 EDT / GNI (%) .. .. .. 41.6 40.5 39.5 39.6 38.8 39.3 40.5 TDS / XGS (%) .. .. .. 14.5 14.2 16.7 12.9 11.3 9.3 9.3 INT / XGS (%) .. .. .. 3.7 4.4 4.6 3.8 3.4 2.9 2.1 INT / GNI (%) .. .. .. 2.0 2.6 2.8 2.6 2.5 1.9 1.4 RES / EDT (%) .. .. .. 43.5 52.1 56.7 61.0 63.6 86.0 77.8 RES / MGS (months) .. .. .. 3.5 4.1 4.2 3.9 3.7 5.4 4.9 Short-term / EDT (%) .. .. .. 35.0 31.4 38.5 41.9 42.1 39.0 40.4 Concessional / EDT (%) .. .. .. 0.5 0.7 0.8 1.1 1.3 1.2 1.3 Multilateral / EDT (%) .. .. .. 3.3 3.3 3.4 3.5 3.8 3.9 4.2 173 CZECH REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 15,009 16,600 14,010 12,514 13,167 16,793 20,654 Public and publicly guaranteed .. .. .. 12,837 11,558 7,683 6,486 5,651 6,977 8,558 Official creditors .. .. .. 1,117 1,138 1,115 1,107 1,245 1,505 1,934 Multilateral .. .. .. 766 794 782 756 856 1,061 1,453 Concessional .. .. .. 23 24 21 19 18 0 19 Bilateral .. .. .. 351 344 333 351 389 444 481 Concessional .. .. .. 93 152 166 219 270 320 415 Private creditors .. .. .. 11,721 10,420 6,568 5,379 4,406 5,472 6,624 Bonds .. .. .. 672 1,376 1,662 1,259 1,237 1,568 1,647 Commercial banks .. .. .. 10,538 8,420 4,135 3,670 2,540 3,309 4,541 Other private .. .. .. 511 623 771 450 629 596 436 Private nonguaranteed .. .. .. 2,172 5,043 6,327 6,028 7,515 9,816 12,096 Bonds .. .. .. 456 671 486 483 200 200 200 Commercial banks and other .. .. .. 1,715 4,372 5,841 5,545 7,315 9,616 11,896 Memo: IBRD .. .. .. 382 380 324 260 205 185 66 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 4,143 5,278 2,881 1,566 2,274 5,057 6,154 Public and publicly guaranteed .. .. .. 3,422 3,012 1,152 391 374 1,005 1,794 Official creditors .. .. .. 168 121 164 164 303 129 440 Multilateral .. .. .. 137 74 127 81 204 102 388 Concessional .. .. .. 0 0 0 0 0 0 17 Bilateral .. .. .. 32 47 37 82 99 27 52 Concessional .. .. .. 21 46 37 77 77 18 52 Private creditors .. .. .. 3,254 2,891 988 227 71 876 1,354 Bonds .. .. .. 264 637 427 0 54 430 342 Commercial banks .. .. .. 2,902 2,091 357 227 18 446 1,012 Other private .. .. .. 88 162 204 0 0 0 0 Private nonguaranteed .. .. .. 721 2,266 1,729 1,175 1,899 4,052 4,360 Bonds .. .. .. 0 200 0 0 0 0 0 Commercial banks and other .. .. .. 721 2,066 1,729 1,175 1,899 4,052 4,360 Memo: IBRD .. .. .. 23 26 21 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 3,331 3,458 4,229 3,443 3,359 3,064 4,272 Public and publicly guaranteed .. .. .. 2,530 2,034 2,147 1,426 1,271 888 1,309 Official creditors .. .. .. 250 139 123 95 96 136 282 Multilateral .. .. .. 213 54 68 63 68 103 191 Concessional .. .. .. 0 0 0 0 0 20 0 Bilateral .. .. .. 37 85 55 33 29 33 91 Concessional .. .. .. 0 0 26 7 7 13 20 Private creditors .. .. .. 2,280 1,895 2,024 1,331 1,175 751 1,027 Bonds .. .. .. 23 0 88 325 34 250 434 Commercial banks .. .. .. 1,998 1,842 1,885 789 1,020 468 433 Other private .. .. .. 258 53 51 216 120 34 160 Private nonguaranteed .. .. .. 801 1,424 2,083 2,017 2,088 2,176 2,964 Bonds .. .. .. 36 0 164 0 282 0 0 Commercial banks and other .. .. .. 765 1,424 1,919 2,017 1,806 2,176 2,964 Memo: IBRD .. .. .. 39 47 56 43 41 41 135 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 812 1,820 -1,348 -1,877 -1,085 1,993 1,881 Public and publicly guaranteed .. .. .. 892 978 -995 -1,035 -897 117 485 Official creditors .. .. .. -82 -18 41 69 207 -8 158 Multilateral .. .. .. -76 20 59 19 136 -1 197 Concessional .. .. .. 0 0 0 0 0 -20 17 Bilateral .. .. .. -6 -38 -18 50 70 -6 -39 Concessional .. .. .. 21 46 11 69 70 5 32 Private creditors .. .. .. 974 996 -1,036 -1,104 -1,103 125 327 Bonds .. .. .. 241 637 339 -325 19 180 -91 Commercial banks .. .. .. 903 250 -1,528 -563 -1,002 -22 579 Other private .. .. .. -170 109 153 -216 -120 -34 -160 Private nonguaranteed .. .. .. -80 842 -354 -841 -189 1,876 1,396 Bonds .. .. .. -36 200 -164 0 -282 0 0 Commercial banks and other .. .. .. -44 642 -190 -841 93 1,876 1,396 Memo: IBRD .. .. .. -17 -21 -36 -43 -41 -41 -135 IDA .. .. .. 0 0 0 0 0 0 0 174 CZECH REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 920 1,134 1,214 1,054 1,093 972 863 Public and publicly guaranteed .. .. .. 803 1,003 942 759 628 441 453 Official creditors .. .. .. 72 66 65 65 68 73 77 Multilateral .. .. .. 52 46 49 47 49 52 55 Concessional .. .. .. 1 0 1 1 1 1 0 Bilateral .. .. .. 20 20 17 19 19 21 22 Concessional .. .. .. 4 5 7 9 11 14 16 Private creditors .. .. .. 731 937 877 694 560 368 376 Bonds .. .. .. 35 45 79 106 79 66 107 Commercial banks .. .. .. 639 848 720 506 405 300 214 Other private .. .. .. 57 43 78 82 77 2 55 Private nonguaranteed .. .. .. 117 131 272 295 464 531 410 Bonds .. .. .. 31 31 47 38 20 18 18 Commercial banks and other .. .. .. 86 101 224 257 444 513 392 Memo: IBRD .. .. .. 27 24 22 17 13 11 10 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. -108 685 -2,562 -2,930 -2,178 1,022 1,018 Public and publicly guaranteed .. .. .. 89 -25 -1,937 -1,794 -1,525 -323 32 Official creditors .. .. .. -154 -84 -24 3 139 -81 81 Multilateral .. .. .. -128 -26 10 -28 87 -53 142 Concessional .. .. .. -1 0 -1 -1 -1 -20 17 Bilateral .. .. .. -25 -58 -34 31 52 -27 -61 Concessional .. .. .. 17 40 5 60 59 -9 16 Private creditors .. .. .. 243 59 -1,913 -1,798 -1,664 -243 -49 Bonds .. .. .. 205 592 260 -431 -59 115 -199 Commercial banks .. .. .. 265 -599 -2,248 -1,069 -1,407 -322 365 Other private .. .. .. -227 66 75 -298 -197 -35 -215 Private nonguaranteed .. .. .. -197 710 -625 -1,136 -653 1,345 986 Bonds .. .. .. -67 169 -211 -38 -302 -18 -18 Commercial banks and other .. .. .. -130 541 -414 -1,098 -351 1,363 1,004 Memo: IBRD .. .. .. -44 -44 -58 -60 -55 -52 -145 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 4,251 4,592 5,443 4,496 4,452 4,036 5,136 Public and publicly guaranteed .. .. .. 3,333 3,037 3,089 2,185 1,899 1,328 1,762 Official creditors .. .. .. 322 205 188 161 164 209 359 Multilateral .. .. .. 265 100 117 109 117 155 246 Concessional .. .. .. 1 0 1 1 1 20 0 Bilateral .. .. .. 57 106 71 51 47 54 113 Concessional .. .. .. 4 5 33 17 17 27 36 Private creditors .. .. .. 3,011 2,831 2,901 2,024 1,735 1,119 1,403 Bonds .. .. .. 59 45 167 431 113 316 541 Commercial banks .. .. .. 2,637 2,690 2,605 1,295 1,425 768 647 Other private .. .. .. 315 96 129 298 197 35 215 Private nonguaranteed .. .. .. 918 1,555 2,354 2,311 2,552 2,707 3,374 Bonds .. .. .. 67 31 211 38 302 18 18 Commercial banks and other .. .. .. 851 1,525 2,143 2,273 2,251 2,689 3,356 Memo: IBRD .. .. .. 66 71 78 60 55 52 145 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 1,973 1,439 1,099 970 347 300 606 Official creditors .. .. .. 773 779 517 454 277 252 125 Private creditors .. .. .. 1,199 659 583 516 71 48 481 Memorandum items Concessional LDOD .. .. .. 116 177 186 238 288 320 434 Variable rate LDOD .. .. .. 6,397 10,831 10,212 9,137 10,448 12,927 15,985 Public sector LDOD .. .. .. 12,416 11,041 7,208 6,110 5,297 6,210 7,763 Private sector LDOD .. .. .. 2,593 5,559 6,803 6,404 7,870 10,583 12,891 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 33.5 35.0 45.0 Deutsche mark .. .. .. 5.3 12.2 15.5 17.5 .. .. .. French franc .. .. .. 0.1 0.0 0.0 0.0 .. .. .. Japanese yen .. .. .. 4.5 5.1 7.3 2.9 2.6 2.0 1.0 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 1.6 0.6 0.3 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 78.4 71.6 54.7 58.0 51.1 52.9 49.0 Multiple currency .. .. .. 7.9 7.9 13.6 10.0 12.8 10.2 5.1 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 2.2 2.5 8.7 11.6 0.0 0.0 0.0 175 CZECH REPUBLIC (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 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 .. .. .. 2 0 0 3 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 .. .. .. 3,011 1,138 -1,418 -1,266 1,216 4,804 7,079 Net flows on debt .. .. .. 3,166 1,363 -205 -1,664 -514 1,004 3,457 Net change in interest arrears .. .. .. -6 3 29 18 -8 40 19 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. .. -2 0 0 -3 0 0 0 Cross-currency valuation .. .. .. -261 176 -187 -213 -129 398 531 Residual .. .. .. 113 -405 -1,055 596 1,868 1,235 1,448 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.6 6.5 7.0 5.7 5.6 5.5 3.1 Maturity (years) .. .. .. 9.3 8.3 13.0 14.3 15.0 9.4 9.2 Grace period (years) .. .. .. 2.2 4.2 5.0 4.3 5.6 4.9 2.2 Grant element (%) .. .. .. 12.6 14.4 17.6 21.3 25.3 19.3 24.2 Official creditors Interest (%) .. .. .. 5.9 6.2 3.3 5.8 5.3 3.9 3.0 Maturity (years) .. .. .. 18.7 9.6 16.4 18.4 17.3 20.8 26.7 Grace period (years) .. .. .. 5.2 6.9 3.9 5.8 4.2 5.8 3.1 Grant element (%) .. .. .. 25.9 19.7 39.0 26.2 26.7 41.2 47.7 Private creditors Interest (%) .. .. .. 6.6 6.5 7.5 5.6 6.4 5.7 3.1 Maturity (years) .. .. .. 9.0 8.3 12.5 7.7 9.5 7.7 5.8 Grace period (years) .. .. .. 2.1 4.2 5.1 1.9 9.0 4.8 2.1 Grant element (%) .. .. .. 12.2 14.3 14.7 13.4 22.2 15.9 19.7 Memorandum items Commitments .. .. .. 3,136 2,788 1,041 434 209 527 2,102 Official creditors .. .. .. 86 51 125 269 147 71 337 Private creditors .. .. .. 3,051 2,737 917 165 61 456 1,765 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 336 149 107 9 4 0 0 0 0 0 Principal 3,819 2,949 3,068 1,640 1,777 1,366 1,232 1,490 1,062 1,224 Interest 819 697 585 479 401 275 251 186 126 118 Official creditors Disbursements 56 38 17 9 4 0 0 0 0 0 Principal 132 147 154 170 150 143 137 137 151 124 Interest 43 40 42 37 33 33 29 25 22 18 Bilateral creditors Disbursements 3 4 2 1 0 0 0 0 0 0 Principal 40 38 39 52 49 45 42 42 37 30 Interest 11 10 9 8 7 6 5 4 3 2 Multilateral creditors Disbursements 53 34 15 8 4 0 0 0 0 0 Principal 92 108 115 118 100 98 94 94 113 94 Interest 32 30 33 29 26 27 24 22 19 16 Private creditors Disbursements 280 111 90 0 0 0 0 0 0 0 Principal 3,687 2,802 2,914 1,470 1,628 1,223 1,095 1,353 912 1,100 Interest 776 658 543 442 368 243 222 161 105 100 Commercial banks Disbursements 280 111 90 0 0 0 0 0 0 0 Principal 725 927 724 713 663 336 305 294 313 10 Interest 284 247 196 158 121 91 65 41 17 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2,963 1,875 2,190 757 965 887 790 1,059 599 1,089 Interest 492 410 347 283 246 152 156 120 87 99 176 DJIBOUTI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2.6 31.8 205.3 273.7 287.8 274.6 262.2 262.7 335.3 396.1 Long-term debt (LDOD) 2.6 25.8 155.2 253.0 263.8 248.4 237.9 235.7 305.2 366.5 Public and publicly guaranteed 2.6 25.8 155.2 253.0 263.8 248.4 237.9 235.7 305.2 366.5 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 5.4 8.9 12.7 13.4 15.5 20.5 20.4 Short-term debt 0.0 6.0 50.1 15.3 15.1 13.5 10.9 11.5 9.6 9.2 of which interest arrears on LDOD 0.0 0.0 0.1 4.3 6.3 6.6 6.9 7.4 6.2 8.3 Official creditors 0.0 0.0 0.1 4.3 6.3 6.6 6.9 7.4 5.6 7.6 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.7 Memo: principal arrears on LDOD 0.0 0.0 1.2 12.6 20.5 23.5 24.4 26.8 7.7 16.8 Official creditors 0.0 0.0 1.2 12.6 20.5 23.5 24.4 26.8 5.7 14.3 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.5 TOTAL DEBT FLOWS Disbursements 1.4 10.2 27.0 13.5 8.2 8.3 11.3 16.9 36.8 30.4 Long-term debt 1.4 10.2 27.0 12.0 5.1 3.2 7.7 12.2 30.9 30.4 IMF purchases 0.0 0.0 0.0 1.5 3.2 5.1 3.6 4.6 5.9 0.0 Principal repayments 0.1 2.2 8.9 5.0 3.3 7.3 10.7 8.9 9.5 12.3 Long-term debt 0.1 2.2 8.9 5.0 3.3 6.3 8.4 6.8 7.2 10.5 IMF repurchases 0.0 0.0 0.0 0.0 0.0 1.0 2.3 2.0 2.3 1.8 Net flows on debt 1.3 9.0 20.8 11.3 2.7 -0.9 -2.2 8.0 26.6 15.5 of which short-term debt 0.0 1.0 2.8 2.8 -2.2 -1.9 -2.9 0.1 -0.6 -2.6 Interest payments (INT) 0.0 1.7 6.0 2.2 2.1 2.7 2.8 1.7 2.5 3.3 Long-term debt 0.0 0.9 2.1 1.5 1.5 1.9 2.2 1.3 2.2 3.1 IMF charges 0.0 0.0 0.0 0.2 0.3 0.4 0.4 0.3 0.2 0.1 Short-term debt 0.0 0.8 3.9 0.5 0.4 0.4 0.2 0.2 0.1 0.0 Net transfers on debt 1.3 7.3 14.8 9.0 0.6 -3.6 -5.1 6.3 24.1 12.2 Total debt service paid (TDS) 0.1 3.9 14.9 7.3 5.4 10.0 13.5 10.6 12.1 15.6 Long-term debt 0.1 3.1 11.0 6.6 4.8 8.2 10.6 8.1 9.4 13.6 IMF repurchases and charges 0.0 0.0 0.0 0.2 0.3 1.4 2.7 2.3 2.5 2.0 Short-term debt (interest only) 0.0 0.8 3.9 0.5 0.4 0.4 0.2 0.2 0.1 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5.6 38.0 148.9 47.8 53.1 43.6 30.5 27.6 55.7 56.2 Net flow of long-term debt (ex. IMF) 1.3 8.0 18.0 6.9 1.8 -3.1 -0.7 5.4 23.7 19.9 Foreign direct investment (net) 0.0 0.2 0.1 2.4 3.5 4.2 3.3 3.4 3.5 11.4 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.) 4.3 29.8 130.7 38.4 47.8 42.5 27.9 18.8 28.6 24.9 Memo: technical coop. grants 6.2 27.8 43.8 31.1 28.9 29.2 23.6 25.1 23.8 27.8 official net resource flows 5.6 32.8 149.4 45.4 49.6 39.4 27.2 24.2 52.2 44.8 private net resource flows 0.0 5.2 -0.5 2.4 3.5 4.2 3.3 3.4 3.5 11.4 NET TRANSFERS 5.6 37.1 146.8 42.6 47.2 40.1 26.3 25.3 52.5 52.1 Interest on long-term debt 0.0 0.9 2.1 1.5 1.5 1.9 2.2 1.3 2.2 3.1 Profit remittances on FDI 0.0 0.0 0.0 3.6 4.4 1.6 2.0 1.0 1.0 1.0 Memo: official net transfers 5.6 31.9 147.3 43.8 48.1 37.5 25.0 22.9 50.0 41.7 private net transfers 0.0 5.2 -0.5 -1.2 -0.9 2.6 1.3 2.4 2.5 10.4 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 514.9 524.9 548.3 568.7 586.2 602.4 641.0 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 66.6 66.5 70.6 67.8 70.3 73.7 100.1 Current account balance .. .. .. .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. .. .. .. .. .. .. EDT / GNI (%) .. .. .. 53.2 54.8 50.1 46.1 44.8 55.7 61.8 TDS / XGS (%) .. .. .. .. .. .. .. .. .. .. INT / XGS (%) .. .. .. .. .. .. .. .. .. .. INT / GNI (%) .. .. .. 0.4 0.4 0.5 0.5 0.3 0.4 0.5 RES / EDT (%) .. .. 45.6 24.3 23.1 25.7 25.9 26.8 22.0 25.3 RES / MGS (months) .. .. .. .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 18.9 24.4 5.6 5.2 4.9 4.2 4.4 2.9 2.3 Concessional / EDT (%) 100.0 45.7 74.0 92.1 91.4 90.2 90.5 89.3 87.8 89.3 Multilateral / EDT (%) 0.0 7.3 41.9 49.8 50.2 51.3 52.8 54.7 58.7 61.8 177 DJIBOUTI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 2.6 25.8 155.2 253.0 263.8 248.4 237.9 235.7 305.2 366.5 Public and publicly guaranteed 2.6 25.8 155.2 253.0 263.8 248.4 237.9 235.7 305.2 366.5 Official creditors 2.6 21.2 155.2 253.0 263.8 248.4 237.9 235.7 299.7 360.9 Multilateral 0.0 2.3 86.1 136.3 144.6 140.8 138.3 143.8 197.0 244.7 Concessional 0.0 1.0 83.0 135.4 143.8 140.1 137.7 142.7 193.7 238.5 Bilateral 2.6 18.9 69.2 116.7 119.3 107.6 99.6 91.9 102.7 116.2 Concessional 2.6 13.5 68.9 116.7 119.3 107.6 99.6 91.9 100.9 115.1 Private creditors 0.0 4.7 0.0 0.0 0.0 0.0 0.0 0.0 5.6 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 5.6 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 46.1 49.5 49.0 49.9 56.1 78.5 112.1 DISBURSEMENTS 1.4 10.2 27.0 12.0 5.1 3.2 7.7 12.2 30.9 30.4 Public and publicly guaranteed 1.4 10.2 27.0 12.0 5.1 3.2 7.7 12.2 30.9 30.4 Official creditors 1.4 5.3 27.0 12.0 5.1 3.2 7.7 12.2 30.9 30.4 Multilateral 0.0 2.4 8.9 9.6 4.9 3.2 7.7 12.2 26.6 27.8 Concessional 0.0 1.0 8.9 9.6 4.9 3.2 7.7 11.7 25.2 27.8 Bilateral 1.4 2.9 18.0 2.4 0.2 0.0 0.0 0.0 4.3 2.6 Concessional 1.4 0.0 18.0 2.4 0.2 0.0 0.0 0.0 2.5 2.6 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 3.3 2.0 0.9 3.9 8.9 17.7 25.8 PRINCIPAL REPAYMENTS 0.1 2.2 8.9 5.0 3.3 6.3 8.4 6.8 7.2 10.5 Public and publicly guaranteed 0.1 2.2 8.9 5.0 3.3 6.3 8.4 6.8 7.2 10.5 Official creditors 0.1 2.2 8.3 5.0 3.3 6.3 8.4 6.8 7.2 10.5 Multilateral 0.0 0.0 3.5 2.1 1.9 3.0 4.0 1.6 2.7 3.4 Concessional 0.0 0.0 3.3 1.9 1.7 3.0 4.0 1.6 2.2 3.1 Bilateral 0.1 2.2 4.8 2.9 1.4 3.3 4.4 5.2 4.5 7.0 Concessional 0.1 1.7 4.7 2.9 1.4 3.3 4.4 5.2 4.5 6.7 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 0.4 0.3 0.5 0.6 0.6 0.9 NET FLOWS ON DEBT 1.3 8.0 18.0 6.9 1.8 -3.1 -0.7 5.4 23.7 19.9 Public and publicly guaranteed 1.3 8.0 18.0 6.9 1.8 -3.1 -0.7 5.4 23.7 19.9 Official creditors 1.3 3.0 18.6 6.9 1.8 -3.1 -0.7 5.4 23.7 19.9 Multilateral 0.0 2.4 5.4 7.5 3.0 0.2 3.7 10.6 23.8 24.4 Concessional 0.0 1.0 5.6 7.8 3.2 0.2 3.7 10.1 22.9 24.7 Bilateral 1.3 0.6 13.2 -0.6 -1.2 -3.3 -4.4 -5.2 -0.2 -4.5 Concessional 1.3 -1.7 13.3 -0.6 -1.2 -3.3 -4.4 -5.2 -2.0 -4.2 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 3.0 1.7 0.7 3.4 8.2 17.1 24.9 178 DJIBOUTI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.0 0.9 2.1 1.5 1.5 1.9 2.2 1.3 2.2 3.1 Public and publicly guaranteed 0.0 0.9 2.1 1.5 1.5 1.9 2.2 1.3 2.2 3.1 Official creditors 0.0 0.9 2.1 1.5 1.5 1.9 2.2 1.3 2.2 3.1 Multilateral 0.0 0.0 1.3 1.0 1.1 1.2 1.4 0.8 1.6 2.2 Concessional 0.0 0.0 1.3 1.0 1.1 1.2 1.4 0.8 1.5 2.1 Bilateral 0.0 0.9 0.8 0.5 0.4 0.7 0.8 0.5 0.6 1.0 Concessional 0.0 0.7 0.7 0.5 0.4 0.7 0.8 0.5 0.6 1.0 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 0.4 0.3 0.4 0.4 0.4 0.7 NET TRANSFERS ON DEBT 1.3 7.1 15.9 5.4 0.3 -5.0 -2.9 4.1 21.4 16.8 Public and publicly guaranteed 1.3 7.1 15.9 5.4 0.3 -5.0 -2.9 4.1 21.4 16.8 Official creditors 1.3 2.1 16.6 5.4 0.3 -5.0 -2.9 4.1 21.4 16.8 Multilateral 0.0 2.4 4.1 6.5 1.9 -1.0 2.3 9.9 22.2 22.2 Concessional 0.0 1.0 4.3 6.8 2.1 -1.0 2.3 9.4 21.4 22.7 Bilateral 1.3 -0.3 12.5 -1.1 -1.6 -4.0 -5.1 -5.8 -0.8 -5.5 Concessional 1.3 -2.4 12.6 -1.1 -1.6 -4.0 -5.1 -5.8 -2.6 -5.2 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 2.6 1.3 0.3 3.0 7.9 16.7 24.2 DEBT SERVICE (LTDS) 0.1 3.1 11.0 6.6 4.8 8.2 10.6 8.1 9.4 13.6 Public and publicly guaranteed 0.1 3.1 11.0 6.6 4.8 8.2 10.6 8.1 9.4 13.6 Official creditors 0.1 3.1 10.4 6.6 4.8 8.2 10.6 8.1 9.4 13.6 Multilateral 0.0 0.0 4.9 3.1 3.0 4.3 5.4 2.4 4.3 5.6 Concessional 0.0 0.0 4.6 2.8 2.8 4.3 5.4 2.4 3.8 5.1 Bilateral 0.1 3.1 5.5 3.5 1.7 4.0 5.1 5.8 5.1 8.0 Concessional 0.1 2.4 5.5 3.5 1.7 4.0 5.1 5.8 5.1 7.7 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 0.8 0.6 0.9 1.0 1.0 1.6 UNDISBURSED DEBT 0.0 23.4 161.4 49.3 50.8 99.6 138.1 162.6 150.7 156.3 Official creditors 0.0 23.4 161.4 45.7 47.2 96.0 134.6 162.6 148.2 153.8 Private creditors 0.0 0.0 0.0 3.6 3.6 3.6 3.6 0.0 2.5 2.5 Memorandum items Concessional LDOD 2.6 14.5 151.9 252.1 263.1 247.8 237.3 234.6 294.6 353.6 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 25.8 155.2 253.0 263.8 248.4 237.9 235.7 305.2 366.5 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 16.6 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc 100.0 91.0 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 13.6 14.1 14.9 16.2 19.1 26.3 31.1 Multiple currency 0.0 0.6 16.8 22.9 23.1 23.9 24.3 24.0 20.5 18.5 Special drawing rights 0.0 0.4 8.9 5.9 5.8 6.0 5.8 5.6 4.6 4.1 All other currencies 0.0 5.1 57.4 54.8 54.0 52.5 51.1 32.7 32.6 29.5 179 DJIBOUTI (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 0.0 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 16.1 0.0 0.0 0.0 0.0 1.2 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 .. .. 26.8 -22.1 14.1 -13.2 -12.5 0.6 72.6 60.7 Net flows on debt 1.3 9.0 20.8 11.3 2.7 -0.9 -2.2 8.0 26.6 15.5 Net change in interest arrears .. .. 0.1 0.0 2.1 0.2 0.3 0.6 -1.3 2.1 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 -16.1 0.0 0.0 0.0 0.0 -1.2 0.0 Cross-currency valuation .. .. 3.0 -16.4 2.0 -10.5 -6.5 -3.9 16.0 20.9 Residual .. .. 2.9 -0.9 7.4 -2.0 -4.0 -4.1 32.5 22.3 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.3 2.1 0.8 0.8 0.8 1.6 2.3 1.9 1.6 0.9 Maturity (years) 19.5 18.0 39.7 30.4 47.6 30.0 29.9 31.9 30.7 25.3 Grace period (years) 1.0 7.4 10.2 4.1 10.4 7.0 6.9 8.0 7.6 6.1 Grant element (%) 38.0 55.0 80.5 66.9 82.7 65.6 59.5 64.9 64.9 61.1 Official creditors Interest (%) 3.3 1.0 0.8 0.8 0.8 1.6 2.3 1.9 1.6 0.9 Maturity (years) 19.5 20.1 39.7 30.4 47.6 30.0 29.9 31.9 31.2 25.3 Grace period (years) 1.0 8.5 10.2 4.1 10.4 7.0 6.9 8.0 7.7 6.1 Grant element (%) 38.0 64.5 80.5 66.9 82.7 65.6 59.5 64.9 65.2 61.1 Private creditors Interest (%) 0.0 7.5 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.0 Maturity (years) 0.0 7.5 0.0 0.0 0.0 0.0 0.0 0.0 19.5 0.0 Grace period (years) 0.0 2.0 0.0 0.0 0.0 0.0 0.0 0.0 5.0 0.0 Grant element (%) 0.0 8.2 0.0 0.0 0.0 0.0 0.0 0.0 56.0 0.0 Memorandum items Commitments 0 30 6 12 12 59 49 44 60 28 Official creditors 0 25 6 12 12 59 49 44 57 28 Private creditors 0 5 0 0 0 0 0 0 3 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 36.4 37.1 26.5 19.3 13.5 8.8 5.5 3.8 2.4 1.1 Principal 19.3 21.4 22.7 22.8 23.8 22.2 20.8 21.6 21.3 18.1 Interest 4.9 5.3 5.4 5.3 5.2 4.9 4.6 4.3 4.0 3.6 Official creditors Disbursements 35.5 36.1 26.1 19.1 13.4 8.8 5.5 3.8 2.4 1.1 Principal 18.9 21.3 22.7 22.7 23.5 21.9 20.5 21.3 21.0 17.8 Interest 4.9 5.2 5.4 5.3 5.1 4.8 4.5 4.2 3.9 3.6 Bilateral creditors Disbursements 10.2 9.9 6.6 4.2 2.6 1.6 0.8 0.7 0.4 0.2 Principal 12.2 13.3 13.7 13.1 13.5 11.6 9.5 9.5 8.6 4.9 Interest 2.0 2.0 1.9 1.7 1.6 1.3 1.2 1.0 0.8 0.7 Multilateral creditors Disbursements 25.3 26.2 19.5 14.9 10.7 7.2 4.7 3.1 2.0 0.9 Principal 6.7 8.0 9.0 9.5 10.0 10.3 11.0 11.8 12.4 12.8 Interest 2.9 3.3 3.5 3.5 3.5 3.5 3.4 3.2 3.1 2.9 Private creditors Disbursements 0.9 1.0 0.5 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Principal 0.4 0.2 0.0 0.1 0.2 0.3 0.3 0.3 0.3 0.3 Interest 0.1 0.1 0.1 0.1 0.1 0.1 0.1 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 0.4 0.2 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 Interest 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private Disbursements 0.9 1.0 0.5 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 0.0 0.1 0.2 0.2 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 0.0 180 DOMINICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 88.0 106.8 116.0 117.8 166.8 215.5 228.8 294.0 Long-term debt (LDOD) .. .. 80.2 94.6 98.1 99.0 147.8 193.5 200.4 212.6 Public and publicly guaranteed .. .. 80.2 94.6 98.1 99.0 147.8 193.5 200.4 212.6 Private nonguaranteed .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 5.7 0.3 0.0 0.0 0.0 0.0 2.8 7.9 Short-term debt .. .. 2.0 12.0 17.9 18.8 19.0 22.0 25.6 73.4 of which interest arrears on LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 2.1 3.4 Official creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 1.9 3.3 Memo: principal arrears on LDOD .. .. 0.2 0.5 0.4 0.4 0.3 0.3 0.8 5.2 Official creditors .. .. 0.2 0.5 0.4 0.4 0.3 0.3 0.3 4.0 Private creditors .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.5 1.2 TOTAL DEBT FLOWS Disbursements .. .. 11.5 2.8 8.6 11.1 56.2 33.5 34.6 20.9 Long-term debt .. .. 11.5 2.8 8.6 11.1 56.2 33.5 31.9 16.3 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.7 4.6 Principal repayments .. .. 3.8 6.9 7.1 7.2 6.9 7.5 6.1 8.5 Long-term debt .. .. 2.5 6.3 6.9 7.2 6.9 7.5 6.1 8.5 IMF repurchases .. 0.0 1.4 0.6 0.2 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 7.8 -7.2 7.3 4.8 49.5 29.0 30.0 58.8 of which short-term debt .. .. 0.1 -3.2 5.8 1.0 0.2 3.0 1.5 46.5 Interest payments (INT) .. .. 2.0 4.1 3.5 3.6 4.1 8.6 6.0 8.3 Long-term debt .. .. 1.6 3.1 2.8 2.6 3.0 7.6 5.3 6.8 IMF charges .. 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Short-term debt .. .. 0.2 1.0 0.7 1.0 1.1 0.9 0.7 1.4 Net transfers on debt .. .. 5.9 -11.3 3.8 1.2 45.4 20.4 24.0 50.6 Total debt service paid (TDS) .. .. 5.8 11.0 10.7 10.9 11.0 16.0 12.1 16.8 Long-term debt .. .. 4.1 9.4 9.7 9.8 9.9 15.1 11.4 15.3 IMF repurchases and charges .. 0.0 1.6 0.6 0.2 0.0 0.0 0.0 0.0 0.1 Short-term debt (interest only) .. .. 0.2 1.0 0.7 1.0 1.1 0.9 0.7 1.4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 24.6 24.8 32.3 26.8 65.1 46.7 58.7 10.5 Net flow of long-term debt (ex. IMF) .. .. 9.0 -3.5 1.7 3.9 49.3 26.0 25.9 7.7 Foreign direct investment (net) .. .. 12.9 21.1 6.5 18.0 10.8 11.9 11.4 0.0 Portfolio equity flows .. .. -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 3.1 7.2 24.1 4.9 5.0 8.8 21.4 2.8 Memo: technical coop. grants .. .. 2.9 4.3 5.0 3.7 3.3 2.8 2.7 2.3 official net resource flows .. .. 12.2 3.7 25.8 7.4 23.7 23.1 34.4 11.2 private net resource flows .. .. 12.4 21.1 6.5 19.4 41.3 23.7 24.4 -0.7 NET TRANSFERS .. .. 17.6 6.1 14.3 1.4 35.7 25.5 43.8 -3.8 Interest on long-term debt .. .. 1.6 3.1 2.8 2.6 3.0 7.6 5.3 6.8 Profit remittances on FDI .. .. 5.4 15.7 15.2 22.8 26.3 13.6 9.6 7.5 Memo: official net transfers .. .. 10.6 0.7 23.0 4.8 20.8 18.6 31.0 6.8 private net transfers .. .. 7.0 5.4 -8.7 -3.4 14.9 6.9 12.8 -10.6 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 161.4 227.2 243.8 242.6 239.2 244.7 231.9 238.8 Exports of goods, serv. & inc. (XGS) .. .. 102.8 140.8 156.3 161.4 149.2 123.4 125.4 114.8 Worker remit. & comp. of employees .. .. 14.0 2.0 3.0 3.0 3.0 4.0 4.0 4.0 Imports of goods & services (MGS) .. .. 142.9 193.4 192.1 210.8 220.1 190.0 177.3 180.5 International reserves (RES) .. .. 14.5 23.9 27.7 31.6 29.4 31.2 45.5 47.7 Current account balance .. .. -43.5 -42.3 -23.1 -35.8 -52.9 -49.1 -38.1 -50.1 4. DEBT INDICATORS EDT / XGS (%) .. .. 85.5 75.9 74.3 73.0 111.8 174.6 182.5 256.2 EDT / GNI (%) .. .. 54.5 47.0 47.6 48.6 69.7 88.0 98.7 123.1 TDS / XGS (%) .. .. 5.6 7.8 6.8 6.7 7.4 13.0 9.6 14.6 INT / XGS (%) .. .. 1.9 2.9 2.3 2.2 2.8 6.9 4.8 7.2 INT / GNI (%) .. .. 1.2 1.8 1.5 1.5 1.7 3.5 2.6 3.5 RES / EDT (%) .. .. 16.4 22.4 23.8 26.8 17.6 14.5 19.9 16.2 RES / MGS (months) .. .. 1.2 1.5 1.7 1.8 1.6 2.0 3.1 3.2 Short-term / EDT (%) .. .. 2.3 11.2 15.4 16.0 11.4 10.2 11.2 25.0 Concessional / EDT (%) .. .. 87.3 80.7 77.3 74.2 59.2 59.2 50.8 42.2 Multilateral / EDT (%) .. .. 65.7 58.8 55.0 57.1 49.9 50.4 44.9 38.1 181 DOMINICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 80.2 94.6 98.1 99.0 147.8 193.5 200.4 212.6 Public and publicly guaranteed .. .. 80.2 94.6 98.1 99.0 147.8 193.5 200.4 212.6 Official creditors .. .. 80.2 94.6 98.1 97.6 115.9 149.8 143.8 156.4 Multilateral .. .. 57.8 62.8 63.8 67.3 83.2 108.7 102.7 112.0 Concessional .. .. 54.4 54.4 55.4 57.3 67.0 87.2 84.5 91.5 Bilateral .. .. 22.4 31.8 34.3 30.3 32.7 41.1 41.1 44.4 Concessional .. .. 22.4 31.8 34.3 30.1 31.8 40.3 31.6 32.5 Private creditors .. .. 0.1 0.0 0.0 1.4 31.9 43.6 56.6 56.2 Bonds .. .. 0.0 0.0 0.0 1.4 31.9 31.9 31.9 33.2 Commercial banks .. .. 0.1 0.0 0.0 0.0 0.0 0.0 11.2 10.9 Other private .. .. 0.0 0.0 0.0 0.0 0.0 11.8 13.5 12.1 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 0.4 1.7 2.4 2.7 3.7 4.1 IDA .. 0.0 10.4 12.3 14.3 14.5 13.6 13.8 16.6 18.2 DISBURSEMENTS .. .. 11.5 2.8 8.6 11.1 56.2 33.5 31.9 16.3 Public and publicly guaranteed .. .. 11.5 2.8 8.6 11.1 56.2 33.5 31.9 16.3 Official creditors .. .. 11.5 2.8 8.6 9.7 25.7 21.7 19.0 15.1 Multilateral .. .. 8.3 2.8 3.7 9.2 19.3 15.4 9.1 10.9 Concessional .. .. 6.7 2.8 3.3 6.1 13.9 10.2 6.9 8.7 Bilateral .. .. 3.2 0.0 5.0 0.5 6.3 6.4 9.9 4.2 Concessional .. .. 3.2 0.0 5.0 0.3 5.6 6.4 1.2 1.7 Private creditors .. .. 0.0 0.0 0.0 1.4 30.5 11.8 13.0 1.2 Bonds .. .. 0.0 0.0 0.0 1.4 30.5 0.0 0.0 1.0 Commercial banks .. .. 0.0 0.0 0.0 0.0 0.0 0.0 11.2 0.0 Other private .. .. 0.0 0.0 0.0 0.0 0.0 11.8 1.8 0.2 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 0.4 1.3 0.7 0.3 1.0 0.7 IDA .. 0.0 0.9 1.4 1.6 0.6 -0.1 0.9 1.8 0.3 PRINCIPAL REPAYMENTS .. .. 2.5 6.3 6.9 7.2 6.9 7.5 6.1 8.5 Public and publicly guaranteed .. .. 2.5 6.3 6.9 7.2 6.9 7.5 6.1 8.5 Official creditors .. .. 2.4 6.3 6.9 7.2 6.9 7.5 6.1 6.7 Multilateral .. .. 2.1 3.5 3.9 4.1 3.8 5.3 4.3 5.2 Concessional .. .. 2.1 2.8 3.2 3.4 3.2 4.8 3.9 4.5 Bilateral .. .. 0.3 2.8 3.0 3.1 3.0 2.1 1.7 1.5 Concessional .. .. 0.3 2.8 3.0 3.1 3.0 2.1 1.7 1.4 Private creditors .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 1.9 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 0.3 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 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 0.2 IDA .. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 NET FLOWS ON DEBT .. .. 9.0 -3.5 1.7 3.9 49.3 26.0 25.9 7.7 Public and publicly guaranteed .. .. 9.0 -3.5 1.7 3.9 49.3 26.0 25.9 7.7 Official creditors .. .. 9.1 -3.5 1.7 2.5 18.8 14.3 12.9 8.4 Multilateral .. .. 6.3 -0.6 -0.2 5.1 15.5 10.0 4.7 5.8 Concessional .. .. 4.6 0.0 0.1 2.7 10.6 5.4 3.0 4.3 Bilateral .. .. 2.9 -2.8 1.9 -2.6 3.3 4.2 8.2 2.7 Concessional .. .. 2.9 -2.8 1.9 -2.8 2.6 4.3 -0.5 0.3 Private creditors .. .. -0.1 0.0 0.0 1.4 30.5 11.8 13.0 -0.7 Bonds .. .. 0.0 0.0 0.0 1.4 30.5 0.0 0.0 1.0 Commercial banks .. .. -0.1 0.0 0.0 0.0 0.0 0.0 11.2 -0.3 Other private .. .. 0.0 0.0 0.0 0.0 0.0 11.8 1.8 -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 0.4 1.3 0.7 0.3 1.0 0.4 IDA .. 0.0 0.9 1.3 1.5 0.5 -0.2 0.8 1.7 0.0 182 DOMINICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 1.6 3.1 2.8 2.6 3.0 7.6 5.3 6.8 Public and publicly guaranteed .. .. 1.6 3.1 2.8 2.6 3.0 7.6 5.3 6.8 Official creditors .. .. 1.6 3.1 2.8 2.6 2.9 4.5 3.4 4.4 Multilateral .. .. 1.4 1.8 1.7 1.8 1.9 3.2 2.5 2.9 Concessional .. .. 1.3 1.3 1.3 1.5 1.4 2.0 1.7 2.1 Bilateral .. .. 0.2 1.3 1.1 0.8 1.0 1.3 0.9 1.5 Concessional .. .. 0.2 1.3 1.1 0.8 1.0 1.1 0.8 1.2 Private creditors .. .. 0.0 0.0 0.0 0.0 0.1 3.2 1.9 2.4 Bonds .. .. 0.0 0.0 0.0 0.0 0.1 3.0 1.6 1.4 Commercial banks .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.2 0.3 0.1 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 0.1 0.2 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 -6.6 -1.1 1.3 46.3 18.4 20.6 0.9 Public and publicly guaranteed .. .. 7.4 -6.6 -1.1 1.3 46.3 18.4 20.6 0.9 Official creditors .. .. 7.5 -6.6 -1.1 -0.1 15.8 9.8 9.5 4.0 Multilateral .. .. 4.9 -2.4 -1.9 3.3 13.5 6.8 2.2 2.8 Concessional .. .. 3.3 -1.3 -1.2 1.2 9.3 3.3 1.3 2.2 Bilateral .. .. 2.6 -4.1 0.8 -3.4 2.3 3.0 7.3 1.2 Concessional .. .. 2.6 -4.1 0.8 -3.6 1.6 3.2 -1.3 -0.9 Private creditors .. .. -0.1 0.0 0.0 1.4 30.4 8.6 11.0 -3.1 Bonds .. .. 0.0 0.0 0.0 1.4 30.4 -3.0 -1.6 -0.4 Commercial banks .. .. -0.1 0.0 0.0 0.0 0.0 0.0 11.2 -1.1 Other private .. .. 0.0 0.0 0.0 0.0 0.0 11.6 1.4 -1.6 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 0.4 1.3 0.6 0.1 0.8 0.2 IDA .. 0.0 0.8 1.2 1.4 0.4 -0.3 0.7 1.6 -0.1 DEBT SERVICE (LTDS) .. .. 4.1 9.4 9.7 9.8 9.9 15.1 11.4 15.3 Public and publicly guaranteed .. .. 4.1 9.4 9.7 9.8 9.9 15.1 11.4 15.3 Official creditors .. .. 4.0 9.4 9.7 9.8 9.8 11.9 9.4 11.1 Multilateral .. .. 3.4 5.3 5.6 5.9 5.8 8.5 6.9 8.1 Concessional .. .. 3.4 4.2 4.5 4.9 4.6 6.8 5.6 6.5 Bilateral .. .. 0.6 4.1 4.1 3.9 4.0 3.4 2.6 3.0 Concessional .. .. 0.6 4.1 4.1 3.9 4.0 3.2 2.5 2.7 Private creditors .. .. 0.1 0.0 0.0 0.0 0.1 3.2 1.9 4.3 Bonds .. .. 0.0 0.0 0.0 0.0 0.1 3.0 1.6 1.4 Commercial banks .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 1.1 Other private .. .. 0.0 0.0 0.0 0.0 0.0 0.2 0.3 1.7 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 0.1 0.2 0.2 0.5 IDA .. 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.3 0.4 UNDISBURSED DEBT .. .. 23.0 48.5 59.2 101.5 101.2 57.1 50.3 48.2 Official creditors .. .. 23.0 48.5 59.2 70.6 88.8 53.8 48.8 48.2 Private creditors .. .. 0.0 0.0 0.0 30.8 12.5 3.2 1.4 0.0 Memorandum items Concessional LDOD .. .. 76.8 86.2 89.7 87.4 98.7 127.5 116.1 124.0 Variable rate LDOD .. .. 0.0 0.0 0.4 1.7 5.0 11.6 11.7 15.0 Public sector LDOD .. .. 80.2 94.6 98.1 99.0 147.8 193.5 200.4 212.6 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 .. .. .. .. .. .. .. 5.7 5.2 5.2 Deutsche mark .. .. 8.7 2.2 2.0 1.4 0.7 .. .. .. French franc .. .. 9.7 9.5 9.0 7.0 3.8 .. .. .. Japanese yen .. .. 0.3 0.8 0.7 0.7 0.4 0.1 0.0 0.0 Pound sterling .. .. 16.5 11.7 9.1 6.6 2.7 1.9 0.1 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 65.1 68.8 73.5 80.1 83.8 86.2 86.6 Multiple currency .. .. 0.0 0.0 0.4 1.7 1.6 1.4 1.4 1.2 Special drawing rights .. .. 6.0 3.6 3.4 3.8 3.6 3.7 2.7 2.8 All other currencies .. .. 7.2 7.1 6.6 5.3 7.1 3.5 4.4 4.1 183 DOMINICA (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 0.0 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 -11.7 9.2 1.7 49.0 48.7 13.4 65.1 Net flows on debt .. .. 7.8 -7.2 7.3 4.8 49.5 29.0 30.0 58.8 Net change in interest arrears .. .. 0.0 -0.4 0.0 0.0 0.0 0.0 2.1 1.3 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 -5.4 0.7 -3.0 -2.7 -1.6 4.4 4.6 Residual .. .. 1.2 1.3 1.2 -0.1 2.3 21.2 -23.2 0.3 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 3.0 3.7 3.3 6.5 4.5 5.8 3.6 1.8 Maturity (years) .. .. 25.1 19.6 24.1 18.4 18.7 14.5 16.8 14.9 Grace period (years) .. .. 8.5 4.8 7.6 10.4 5.9 4.4 4.0 4.9 Grant element (%) .. .. 53.8 40.6 49.4 24.2 33.5 28.0 34.2 41.7 Official creditors Interest (%) .. .. 3.0 3.7 3.3 3.2 5.2 4.0 2.1 1.8 Maturity (years) .. .. 25.1 19.6 24.1 22.9 21.3 16.1 15.4 14.9 Grace period (years) .. .. 8.5 4.8 7.6 4.9 6.9 5.3 5.3 4.9 Grant element (%) .. .. 53.8 40.6 49.4 45.5 34.1 36.5 41.9 41.7 Private creditors Interest (%) .. .. 0.0 0.0 0.0 9.1 1.9 14.3 7.3 0.0 Maturity (years) .. .. 0.0 0.0 0.0 14.7 9.2 6.7 20.3 0.0 Grace period (years) .. .. 0.0 0.0 0.0 14.7 2.3 0.2 0.8 0.0 Grant element (%) .. .. 0.0 0.0 0.0 7.2 31.3 -12.9 14.8 0.0 Memorandum items Commitments .. .. 3 17 19 58 57 14 40 13 Official creditors .. .. 3 17 19 26 45 12 28 13 Private creditors .. .. 0 0 0 32 12 3 11 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 12.4 13.7 9.1 6.0 3.4 2.0 1.0 0.5 0.1 0.0 Principal 25.4 14.8 14.5 13.8 14.0 16.5 12.1 11.4 10.4 9.7 Interest 8.3 7.8 7.5 7.1 6.8 6.3 5.9 5.5 5.1 4.8 Official creditors Disbursements 12.4 13.7 9.1 6.0 3.4 2.0 1.0 0.5 0.1 0.0 Principal 22.8 12.3 12.0 11.3 11.9 12.2 11.2 10.8 9.8 9.1 Interest 4.2 3.8 3.6 3.4 3.1 2.8 2.5 2.2 1.9 1.7 Bilateral creditors Disbursements 1.0 1.7 1.1 0.8 0.5 0.3 0.2 0.1 0.0 0.0 Principal 13.2 3.1 4.3 3.3 3.5 3.5 2.3 2.3 2.0 1.7 Interest 1.4 1.2 1.1 1.0 0.8 0.7 0.6 0.5 0.4 0.3 Multilateral creditors Disbursements 11.3 12.0 8.0 5.3 2.9 1.7 0.8 0.4 0.1 0.0 Principal 9.7 9.2 7.7 8.0 8.4 8.7 8.9 8.5 7.8 7.4 Interest 2.8 2.6 2.5 2.4 2.3 2.1 1.9 1.7 1.5 1.3 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 2.5 2.5 2.5 2.5 2.2 4.3 1.0 0.6 0.6 0.6 Interest 4.1 4.0 3.9 3.8 3.7 3.5 3.3 3.2 3.2 3.2 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 Interest 0.8 0.7 0.7 0.7 0.6 0.6 0.5 0.5 0.5 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 2.0 2.0 2.0 2.0 1.6 3.8 0.4 0.0 0.0 0.0 Interest 3.3 3.2 3.2 3.1 3.0 2.9 2.8 2.8 2.8 2.8 184 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 360 2,002 4,372 4,240 4,404 4,686 4,541 5,135 6,249 6,291 Long-term debt (LDOD) 353 1,473 3,518 3,461 3,482 3,584 3,311 3,790 4,199 5,077 Public and publicly guaranteed 212 1,219 3,419 3,461 3,482 3,584 3,311 3,790 4,027 5,077 Private nonguaranteed 141 254 99 0 0 0 0 0 171 0 Use of IMF credit 7 49 72 29 56 54 52 50 27 130 Short-term debt 0 480 782 750 866 1,047 1,178 1,294 2,023 1,084 of which interest arrears on LDOD 0 7 506 135 122 162 28 24 32 43 Official creditors 0 3 304 76 56 90 22 17 24 25 Private creditors 0 4 202 59 66 72 6 7 8 18 Memo: principal arrears on LDOD 1 12 614 273 286 316 56 48 82 119 Official creditors 0 4 444 228 230 254 52 45 75 93 Private creditors 1 8 169 45 56 62 4 3 6 26 Memo: export credits 0 0 967 1,103 687 626 568 462 562 614 TOTAL DEBT FLOWS Disbursements 60 481 138 106 187 270 303 894 732 1,477 Long-term debt 60 481 138 106 133 270 303 894 732 1,354 IMF purchases 0 0 0 0 54 0 0 0 0 122 Principal repayments 32 200 146 255 181 174 257 377 404 617 Long-term debt 27 135 88 193 153 174 257 377 378 589 IMF repurchases 5 65 58 62 29 0 0 0 26 28 Net flows on debt 28 438 15 -1 134 237 311 637 1,049 -90 of which short-term debt 0 156 23 148 128 142 265 120 721 -950 Interest payments (INT) 13 179 86 201 193 204 263 245 267 305 Long-term debt 13 121 59 173 159 158 211 193 212 244 IMF charges 0 5 9 3 1 2 3 2 1 0 Short-term debt 0 54 19 25 34 44 50 50 54 61 Net transfers on debt 15 259 -71 -202 -60 33 48 392 783 -395 Total debt service paid (TDS) 45 379 232 456 375 378 520 622 671 922 Long-term debt 39 256 147 366 311 332 468 570 590 833 IMF repurchases and charges 5 69 67 66 29 2 3 2 27 28 Short-term debt (interest only) 0 54 19 25 34 44 50 50 54 61 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 114 453 212 385 741 1,518 1,043 1,643 1,322 1,120 Net flow of long-term debt (ex. IMF) 33 346 50 -87 -20 96 46 517 354 766 Foreign direct investment (net) 72 93 133 421 700 1,338 953 1,079 917 310 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 9 14 29 51 61 84 44 46 51 44 Memo: technical coop. grants 5 16 44 48 45 47 63 73 75 66 official net resource flows 39 304 83 -39 35 138 -48 -1 15 7 private net resource flows 75 150 129 424 706 1,380 1,092 1,643 1,307 1,113 NET TRANSFERS 101 267 64 -500 -248 396 -236 359 -43 -369 Interest on long-term debt 13 121 59 173 159 158 211 193 212 244 Profit remittances on FDI 0 66 90 712 831 963 1,068 1,090 1,153 1,244 Memo: official net transfers 35 278 28 -166 -84 18 -205 -141 -96 -101 private net transfers 66 -11 36 -334 -165 378 -31 500 53 -267 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,476 6,421 6,759 14,266 14,960 16,404 18,662 20,511 20,443 15,297 Exports of goods, serv. & inc. (XGS) 284 1,496 2,233 8,290 8,976 9,724 10,953 10,466 10,496 11,279 Worker remit. & comp. of employees 25 183 315 1,142 1,406 1,631 1,839 1,982 2,194 2,325 Imports of goods & services (MGS) 392 2,238 2,568 8,716 9,975 10,482 12,193 11,426 11,603 10,687 International reserves (RES) 32 279 69 396 507 699 632 1,105 475 261 Current account balance -102 -720 -280 -163 -338 -429 -1,027 -741 -798 867 4. DEBT INDICATORS EDT / XGS (%) 126.9 133.8 195.8 51.1 49.1 48.2 41.5 49.1 59.5 55.8 EDT / GNI (%) 24.4 31.2 64.7 29.7 29.4 28.6 24.3 25.0 30.6 41.1 TDS / XGS (%) 15.8 25.3 10.4 5.5 4.2 3.9 4.8 5.9 6.4 8.2 INT / XGS (%) 4.4 12.0 3.9 2.4 2.2 2.1 2.4 2.3 2.5 2.7 INT / GNI (%) 0.9 2.8 1.3 1.4 1.3 1.2 1.4 1.2 1.3 2.0 RES / EDT (%) 9.0 13.9 1.6 9.3 11.5 14.9 13.9 21.5 7.6 4.1 RES / MGS (months) 1.0 1.5 0.3 0.5 0.6 0.8 0.6 1.2 0.5 0.3 Short-term / EDT (%) 0.1 24.0 17.9 17.7 19.7 22.3 25.9 25.2 32.4 17.2 Concessional / EDT (%) 46.5 20.1 27.5 36.6 34.9 32.5 31.1 25.8 20.5 19.7 Multilateral / EDT (%) 3.9 10.2 19.6 22.8 22.9 24.0 24.9 24.1 21.7 24.0 185 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 353 1,473 3,518 3,461 3,482 3,584 3,311 3,790 4,199 5,077 Public and publicly guaranteed 212 1,219 3,419 3,461 3,482 3,584 3,311 3,790 4,027 5,077 Official creditors 202 786 2,383 2,827 2,839 2,900 2,541 2,455 2,471 2,534 Multilateral 14 205 858 965 1,008 1,124 1,132 1,237 1,357 1,510 Concessional 0 138 432 454 464 472 452 437 427 441 Bilateral 188 581 1,525 1,861 1,831 1,776 1,409 1,217 1,114 1,024 Concessional 167 264 772 1,100 1,074 1,052 963 887 855 797 Private creditors 10 434 1,036 634 644 684 770 1,336 1,557 2,543 Bonds 0 0 0 518 514 510 506 987 967 1,547 Commercial banks 0 386 775 26 24 33 83 134 253 449 Other private 9 48 261 91 106 140 181 215 337 548 Private nonguaranteed 141 254 99 0 0 0 0 0 171 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 141 254 99 0 0 0 0 0 171 0 Memo: IBRD 11 66 238 209 204 275 292 317 350 350 IDA 0 18 20 16 15 15 14 13 13 12 DISBURSEMENTS 60 481 138 106 133 270 303 894 732 1,354 Public and publicly guaranteed 38 415 138 106 133 270 303 894 544 1,354 Official creditors 36 319 136 77 113 211 124 247 216 233 Multilateral 11 90 84 61 84 176 100 193 167 188 Concessional 0 51 21 26 26 20 13 7 2 3 Bilateral 25 229 53 16 30 35 23 55 49 45 Concessional 24 42 20 5 13 24 23 53 37 26 Private creditors 2 96 2 29 19 58 179 646 328 1,122 Bonds 0 0 0 0 0 0 0 500 0 600 Commercial banks 0 72 0 4 1 16 61 78 148 249 Other private 2 24 2 25 19 42 118 69 180 273 Private nonguaranteed 22 67 0 0 0 0 0 0 188 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 22 67 0 0 0 0 0 0 188 0 Memo: IBRD 11 39 39 13 17 92 39 49 57 31 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 27 135 88 193 153 174 257 377 378 589 Public and publicly guaranteed 7 62 83 188 153 174 257 377 361 418 Official creditors 6 30 83 167 139 158 216 294 252 270 Multilateral 0 3 38 67 59 61 63 73 73 85 Concessional 0 0 6 21 17 17 18 19 19 19 Bilateral 6 27 44 100 80 97 153 222 179 185 Concessional 3 9 8 57 41 51 93 111 87 118 Private creditors 1 32 0 20 14 16 41 82 109 148 Bonds 0 0 0 2 4 4 4 20 20 20 Commercial banks 0 30 0 4 4 5 12 27 30 57 Other private 1 2 0 14 6 7 25 36 60 71 Private nonguaranteed 20 74 5 5 0 0 0 0 17 171 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 20 74 5 5 0 0 0 0 17 171 Memo: IBRD 0 2 19 29 24 20 21 23 24 32 IDA 0 0 0 1 1 1 1 1 1 1 NET FLOWS ON DEBT 33 346 50 -87 -20 96 46 517 354 766 Public and publicly guaranteed 31 353 56 -82 -20 96 46 517 183 937 Official creditors 30 289 54 -90 -26 54 -93 -47 -36 -37 Multilateral 11 87 46 -6 24 116 37 120 94 103 Concessional 0 51 15 5 9 4 -5 -12 -18 -16 Bilateral 19 202 8 -84 -50 -62 -130 -167 -130 -140 Concessional 21 33 11 -51 -28 -27 -70 -58 -49 -92 Private creditors 1 64 2 9 6 42 139 564 219 974 Bonds 0 0 0 -2 -4 -4 -4 480 -20 580 Commercial banks 0 42 0 0 -3 11 50 51 118 192 Other private 1 22 2 11 13 35 93 33 121 202 Private nonguaranteed 2 -7 -5 -5 0 0 0 0 171 -171 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 -7 -5 -5 0 0 0 0 171 -171 Memo: IBRD 11 37 20 -15 -6 72 18 26 33 -1 IDA 0 0 0 -1 -1 -1 -1 -1 -1 -1 186 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 13 121 59 173 159 158 211 193 212 244 Public and publicly guaranteed 4 92 56 173 159 158 211 193 202 235 Official creditors 4 26 55 126 119 120 157 141 111 109 Multilateral 0 4 32 47 45 51 58 65 63 62 Concessional 0 1 4 9 8 8 8 8 7 8 Bilateral 4 21 23 80 74 69 99 76 48 47 Concessional 2 6 7 52 42 40 54 46 29 32 Private creditors 0 66 1 46 40 38 54 52 91 126 Bonds 0 0 0 35 35 32 38 33 63 87 Commercial banks 0 64 0 3 2 2 6 7 12 19 Other private 0 3 1 9 2 4 11 13 16 20 Private nonguaranteed 8 29 3 0 0 0 0 0 9 9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 29 3 0 0 0 0 0 9 9 Memo: IBRD 0 3 14 15 14 16 22 23 22 21 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 20 226 -8 -260 -178 -63 -165 324 143 521 Public and publicly guaranteed 27 261 0 -254 -178 -63 -165 324 -19 702 Official creditors 26 264 -1 -217 -145 -66 -250 -188 -147 -146 Multilateral 10 83 14 -53 -21 65 -21 55 32 41 Concessional 0 50 11 -4 0 -4 -13 -20 -25 -23 Bilateral 16 181 -15 -164 -124 -131 -228 -243 -178 -186 Concessional 20 27 4 -104 -70 -67 -125 -104 -79 -124 Private creditors 1 -2 1 -38 -34 4 84 512 128 848 Bonds 0 0 0 -36 -39 -36 -41 448 -83 493 Commercial banks 0 -22 0 -3 -5 9 43 44 106 173 Other private 1 20 1 2 11 30 82 20 105 182 Private nonguaranteed -6 -35 -8 -5 0 0 0 0 162 -181 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -6 -35 -8 -5 0 0 0 0 162 -181 Memo: IBRD 10 34 6 -31 -20 55 -4 2 11 -22 IDA 0 0 0 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 39 256 147 366 311 332 468 570 590 833 Public and publicly guaranteed 12 154 139 360 311 332 468 570 564 652 Official creditors 10 55 138 294 258 277 373 435 363 379 Multilateral 1 7 70 114 104 112 121 138 136 147 Concessional 0 1 10 30 26 24 26 27 27 27 Bilateral 10 48 68 180 154 166 252 297 227 232 Concessional 4 15 15 109 83 91 148 157 116 150 Private creditors 1 98 1 66 53 55 95 135 201 274 Bonds 0 0 0 36 39 36 41 52 83 107 Commercial banks 0 94 0 7 6 8 18 33 42 76 Other private 1 4 1 23 8 11 36 49 76 91 Private nonguaranteed 28 102 8 5 0 0 0 0 26 181 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 28 102 8 5 0 0 0 0 26 181 Memo: IBRD 0 5 33 44 37 37 43 46 46 53 IDA 0 0 0 1 1 1 1 1 1 1 UNDISBURSED DEBT 64 631 510 594 1,234 1,477 1,279 2,017 2,663 2,405 Official creditors 42 537 483 529 874 990 906 961 1,123 956 Private creditors 22 94 27 65 360 487 373 1,057 1,539 1,450 Memorandum items Concessional LDOD 167 402 1,204 1,554 1,539 1,524 1,414 1,324 1,282 1,239 Variable rate LDOD 141 695 1,104 1,228 1,252 1,375 1,376 1,495 1,789 1,864 Public sector LDOD 197 1,184 3,391 3,438 3,461 3,569 3,299 3,778 4,017 5,067 Private sector LDOD 156 289 127 23 22 15 13 12 182 10 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.1 2.4 2.1 Deutsche mark 0.0 0.6 2.0 1.7 1.8 1.5 1.5 .. .. .. French franc 0.0 0.0 0.5 1.2 1.2 1.0 0.9 .. .. .. Japanese yen 0.0 0.0 6.4 5.7 6.2 6.8 5.0 4.0 4.2 3.7 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 67.4 71.1 72.0 73.8 79.0 79.9 83.4 Multiple currency 6.6 11.5 21.8 23.1 18.8 18.0 18.0 14.5 13.1 10.4 Special drawing rights 0.0 0.0 0.2 0.3 0.3 0.3 0.4 0.3 0.4 0.2 All other currencies 0.0 6.0 0.7 0.6 0.6 0.5 0.4 0.1 0.1 0.1 187 DOMINICAN REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 7 130 21 0 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 1 20 30 0 0 0 2 0 Official .. .. 1 20 30 0 0 0 2 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 2 110 29 0 0 0 1 0 Official .. .. 2 110 29 0 0 0 1 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 7 0 0 0 1 0 0 15 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 .. .. 334 -91 164 282 -145 594 1,114 42 Net flows on debt 28 438 15 -1 134 237 311 637 1,049 -90 Net change in interest arrears .. .. 267 -105 -13 40 -134 -4 8 11 Interest capitalized .. .. 2 110 29 0 0 0 1 0 Debt forgiveness or reduction .. .. -7 0 0 0 -1 0 0 -15 Cross-currency valuation .. .. 52 -96 43 9 -51 -40 54 -126 Residual .. .. 5 0 -28 -4 -270 0 2 262 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.4 8.9 5.9 7.1 6.7 5.8 6.6 6.5 2.6 5.0 Maturity (years) 28.4 12.3 24.5 19.1 17.0 14.2 9.3 9.5 12.1 10.8 Grace period (years) 4.8 4.0 6.4 4.2 3.3 3.8 2.1 3.4 -1.5 1.3 Grant element (%) 53.4 10.2 31.3 16.9 18.0 22.2 12.9 14.1 34.4 23.1 Official creditors Interest (%) 2.4 7.5 5.8 7.4 6.5 5.4 6.8 6.3 3.5 3.3 Maturity (years) 28.4 12.8 24.9 21.5 22.1 16.8 8.8 19.7 16.4 12.7 Grace period (years) 4.8 4.3 6.4 5.0 4.0 4.5 1.3 4.4 -12.1 -33.0 Grant element (%) 53.4 17.5 32.0 17.4 22.1 27.0 10.4 21.8 32.7 32.6 Private creditors Interest (%) 0.0 11.8 9.8 6.5 6.8 6.5 6.5 6.6 2.3 5.2 Maturity (years) 0.0 11.3 9.1 12.7 9.7 9.8 9.6 7.1 10.3 10.5 Grace period (years) 0.0 3.4 4.6 2.3 2.2 2.6 2.7 3.1 3.0 5.6 Grant element (%) 0.0 -3.9 -0.2 15.8 12.2 14.2 14.9 12.4 35.2 21.9 Memorandum items Commitments 20 519 204 264 764 551 442 1,640 1,247 1,591 Official creditors 20 342 199 192 449 346 195 307 369 175 Private creditors 0 176 4 72 315 205 246 1,332 878 1,416 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 951 801 322 157 83 39 23 12 9 5 Principal 660 827 1,203 603 452 415 339 301 276 880 Interest 260 254 236 167 151 138 127 118 109 74 Official creditors Disbursements 228 324 145 101 67 39 23 12 9 5 Principal 355 451 325 280 208 202 191 173 158 141 Interest 101 96 86 76 67 60 53 47 41 36 Bilateral creditors Disbursements 82 91 59 37 22 13 8 5 4 2 Principal 189 201 201 142 77 70 66 53 46 36 Interest 33 28 23 16 12 10 9 7 6 4 Multilateral creditors Disbursements 146 234 87 64 45 26 15 7 5 3 Principal 165 249 123 138 131 132 125 120 113 105 Interest 68 67 63 60 55 50 45 40 35 31 Private creditors Disbursements 724 476 177 56 16 0 0 0 0 0 Principal 306 376 879 323 244 213 148 128 117 739 Interest 159 158 150 92 84 77 74 71 68 39 Commercial banks Disbursements 266 149 48 18 0 0 0 0 0 0 Principal 145 155 134 113 70 49 48 47 43 74 Interest 22 21 17 13 10 8 6 5 4 3 Other private Disbursements 458 327 129 38 16 0 0 0 0 0 Principal 161 221 745 210 175 164 101 81 74 665 Interest 137 137 133 79 74 70 67 65 64 36 188 ECUADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 364 5,997 12,107 15,418 15,640 16,257 13,717 14,481 16,452 16,864 Long-term debt (LDOD) 245 4,422 10,029 13,216 13,299 15,126 12,772 12,907 13,829 14,702 Public and publicly guaranteed 195 3,301 9,865 12,876 13,089 13,556 11,337 11,251 11,244 11,371 Private nonguaranteed 49 1,122 164 340 210 1,571 1,435 1,656 2,586 3,331 Use of IMF credit 14 0 265 133 70 0 148 190 308 390 Short-term debt 106 1,575 1,814 2,069 2,272 1,131 797 1,384 2,314 1,772 of which interest arrears on LDOD 0 0 1,522 84 84 82 3 2 1 1 Official creditors 0 0 10 75 76 74 1 1 0 0 Private creditors 0 0 1,512 9 9 8 2 2 0 0 Memo: principal arrears on LDOD 0 0 1,096 251 280 576 6 6 6 5 Official creditors 0 0 6 192 201 497 0 0 0 0 Private creditors 0 0 1,090 59 79 79 6 6 6 5 Memo: export credits 0 0 2,090 1,240 617 604 627 680 871 827 TOTAL DEBT FLOWS Disbursements 58 1,283 638 1,828 714 1,269 1,145 1,401 1,962 2,016 Long-term debt 48 1,283 606 1,828 714 1,269 996 1,353 1,864 1,931 IMF purchases 10 0 32 0 0 0 150 48 98 84 Principal repayments 33 535 610 1,069 840 1,179 1,072 1,074 1,123 1,302 Long-term debt 26 535 495 1,066 773 1,111 1,072 1,074 1,123 1,267 IMF repurchases 7 0 115 3 67 68 0 0 0 35 Net flows on debt 25 1,174 0 1,235 76 -1,048 -181 915 1,771 172 of which short-term debt 0 426 -28 475 202 -1,139 -254 587 932 -543 Interest payments (INT) 10 473 474 823 922 1,078 822 982 1,070 1,116 Long-term debt 10 365 416 715 812 988 717 879 878 900 IMF charges 0 0 30 6 5 2 4 7 8 6 Short-term debt 0 108 28 101 104 87 102 95 184 209 Net transfers on debt 15 701 -474 412 -846 -2,126 -1,003 -67 701 -944 Total debt service paid (TDS) 43 1,008 1,084 1,891 1,762 2,256 1,894 2,055 2,193 2,417 Long-term debt 36 900 911 1,781 1,586 2,099 1,789 1,953 2,001 2,167 IMF repurchases and charges 7 0 145 9 72 69 4 7 8 41 Short-term debt (interest only) 0 108 28 101 104 87 102 95 184 209 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 113 825 290 1,561 885 860 712 1,686 2,121 2,310 Net flow of long-term debt (ex. IMF) 21 748 110 762 -59 158 -76 279 741 664 Foreign direct investment (net) 89 70 126 724 870 648 720 1,330 1,275 1,555 Portfolio equity flows 0 0 0 22 5 1 0 1 1 9 Grants (excluding technical coop.) 3 7 53 53 69 53 68 76 104 81 Memo: technical coop. grants 9 28 65 85 84 74 86 93 119 146 official net resource flows 13 231 106 63 257 224 239 195 19 167 private net resource flows 101 594 184 1,498 628 636 472 1,492 2,103 2,143 NET TRANSFERS 103 349 -251 651 -158 -377 -284 474 941 1,043 Interest on long-term debt 10 365 416 715 812 988 717 879 878 900 Profit remittances on FDI 0 111 125 194 231 249 280 333 302 367 Memo: official net transfers 8 142 -106 -256 -20 -67 -38 -131 -290 -94 private net transfers 95 207 -145 908 -138 -310 -247 606 1,232 1,137 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,646 11,477 9,145 22,620 22,095 15,375 14,530 19,690 23,006 25,736 Exports of goods, serv. & inc. (XGS) .. 2,975 3,337 6,819 5,918 6,505 7,374 7,106 7,583 8,662 Worker remit. & comp. of employees 0 0 51 648 799 1,090 1,322 1,421 1,438 1,545 Imports of goods & services (MGS) .. 3,647 3,754 7,253 7,989 5,592 6,488 8,025 9,163 9,349 International reserves (RES) 76 1,257 1,009 2,213 1,739 1,888 1,179 1,074 1,004 1,165 Current account balance .. -642 -360 -457 -2,099 918 921 -695 -1,359 -455 4. DEBT INDICATORS EDT / XGS (%) .. 201.6 362.8 226.1 264.3 249.9 186.0 203.8 217.0 194.7 EDT / GNI (%) 22.1 52.3 132.4 68.2 70.8 105.7 94.4 73.5 71.5 65.5 TDS / XGS (%) .. 33.9 32.5 27.7 29.8 34.7 25.7 28.9 28.9 27.9 INT / XGS (%) .. 15.9 14.2 12.1 15.6 16.6 11.2 13.8 14.1 12.9 INT / GNI (%) 0.6 4.1 5.2 3.6 4.2 7.0 5.7 5.0 4.6 4.3 RES / EDT (%) 20.8 21.0 8.3 14.4 11.1 11.6 8.6 7.4 6.1 6.9 RES / MGS (months) .. 4.1 3.2 3.7 2.6 4.1 2.2 1.6 1.3 1.5 Short-term / EDT (%) 29.1 26.3 15.0 13.4 14.5 7.0 5.8 9.6 14.1 10.5 Concessional / EDT (%) 23.2 4.8 7.6 11.6 12.4 12.6 14.8 13.4 12.0 12.7 Multilateral / EDT (%) 13.9 5.4 17.6 18.6 20.2 20.6 25.1 24.4 21.3 22.6 189 ECUADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 245 4,422 10,029 13,216 13,299 15,126 12,772 12,907 13,829 14,702 Public and publicly guaranteed 195 3,301 9,865 12,876 13,089 13,556 11,337 11,251 11,244 11,371 Official creditors 133 1,325 4,065 4,905 5,234 5,741 6,065 6,042 6,135 6,434 Multilateral 50 323 2,127 2,872 3,165 3,351 3,437 3,536 3,505 3,808 Concessional 10 102 451 639 634 631 613 595 577 666 Bilateral 83 1,002 1,938 2,033 2,070 2,390 2,628 2,506 2,630 2,626 Concessional 75 188 468 1,145 1,300 1,415 1,417 1,339 1,391 1,481 Private creditors 62 1,976 5,800 7,971 7,855 7,814 5,272 5,209 5,109 4,937 Bonds 3 55 0 6,334 6,325 6,306 3,950 3,950 3,950 3,950 Commercial banks 4 1,697 4,884 1,317 1,262 1,271 1,187 1,146 1,054 884 Other private 55 224 917 320 268 237 136 113 105 103 Private nonguaranteed 49 1,122 164 340 210 1,571 1,435 1,656 2,586 3,331 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 49 1,122 164 340 210 1,571 1,435 1,656 2,586 3,331 Memo: IBRD 34 109 816 851 854 861 840 889 829 888 IDA 6 36 32 24 23 22 21 20 19 17 DISBURSEMENTS 48 1,283 606 1,828 714 1,269 996 1,353 1,864 1,931 Public and publicly guaranteed 41 968 575 1,748 714 756 615 630 430 642 Official creditors 16 348 329 414 614 558 516 526 367 581 Multilateral 5 91 227 355 463 411 416 437 231 559 Concessional 2 11 24 15 16 17 9 9 5 85 Bilateral 12 257 101 59 151 147 100 89 137 22 Concessional 9 4 31 46 146 145 99 82 40 18 Private creditors 25 620 246 1,334 100 198 99 104 63 61 Bonds 0 0 0 500 0 0 0 0 0 0 Commercial banks 2 497 39 793 100 188 99 104 54 45 Other private 22 122 207 41 0 11 0 0 8 16 Private nonguaranteed 7 315 30 80 0 513 381 723 1,434 1,289 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 7 315 30 80 0 513 381 723 1,434 1,289 Memo: IBRD 2 34 47 45 85 90 69 124 25 152 IDA 2 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 26 535 495 1,066 773 1,111 1,072 1,074 1,123 1,267 Public and publicly guaranteed 16 271 470 1,006 643 625 555 574 616 728 Official creditors 7 125 276 404 426 387 344 408 453 495 Multilateral 3 16 164 288 220 226 268 292 331 354 Concessional 1 0 8 26 22 22 22 24 27 30 Bilateral 4 108 112 116 206 162 76 116 122 142 Concessional 3 8 2 45 53 57 55 78 77 84 Private creditors 8 147 194 602 217 237 211 167 163 233 Bonds 0 14 0 126 10 19 0 0 0 0 Commercial banks 2 110 27 417 155 178 184 145 146 215 Other private 6 23 167 59 53 40 27 22 17 18 Private nonguaranteed 11 263 25 60 130 486 517 499 508 539 Bonds 0 0 0 10 0 0 0 0 0 0 Commercial banks and other 11 263 25 50 130 486 517 499 508 539 Memo: IBRD 2 10 41 101 79 82 89 75 85 92 IDA 0 0 1 1 1 1 1 1 1 1 NET FLOWS ON DEBT 21 748 110 762 -59 158 -76 279 741 664 Public and publicly guaranteed 25 696 105 742 71 132 60 56 -186 -86 Official creditors 9 223 53 10 188 171 171 118 -85 85 Multilateral 1 75 64 67 243 186 147 145 -100 205 Concessional 1 11 16 -11 -7 -5 -13 -15 -22 55 Bilateral 8 149 -11 -57 -55 -15 24 -27 15 -120 Concessional 6 -4 28 1 93 87 43 4 -38 -66 Private creditors 16 473 52 732 -117 -39 -112 -62 -101 -172 Bonds 0 -14 0 374 -10 -19 0 0 0 0 Commercial banks 0 387 12 375 -55 9 -85 -41 -92 -170 Other private 17 99 40 -18 -53 -29 -27 -22 -8 -2 Private nonguaranteed -4 52 5 20 -130 27 -136 223 927 751 Bonds 0 0 0 -10 0 0 0 0 0 0 Commercial banks and other -4 52 5 30 -130 27 -136 223 927 751 Memo: IBRD 0 24 5 -56 6 8 -21 48 -60 59 IDA 2 0 -1 -1 -1 -1 -1 -1 -1 -1 190 ECUADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 10 365 416 715 812 988 717 879 878 900 Public and publicly guaranteed 7 288 404 711 811 813 544 701 682 634 Official creditors 4 89 212 319 277 291 277 326 309 260 Multilateral 3 19 140 221 179 200 241 210 195 171 Concessional 0 1 8 14 12 11 11 11 12 12 Bilateral 2 71 72 99 98 91 36 116 114 89 Concessional 1 5 8 39 45 47 28 44 38 37 Private creditors 2 199 191 392 534 523 267 375 373 374 Bonds 0 6 0 250 405 391 140 258 285 312 Commercial banks 1 184 132 114 111 118 116 107 82 56 Other private 2 8 59 28 18 14 12 10 6 6 Private nonguaranteed 3 78 12 4 1 175 172 178 196 266 Bonds 0 0 0 1 0 0 0 0 0 0 Commercial banks and other 3 78 12 3 1 175 172 178 196 266 Memo: IBRD 2 9 62 69 51 58 74 63 54 41 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 11 383 -305 47 -871 -830 -793 -600 -137 -236 Public and publicly guaranteed 19 408 -299 31 -740 -682 -485 -645 -868 -721 Official creditors 5 134 -160 -309 -89 -120 -106 -208 -395 -175 Multilateral -1 56 -77 -154 65 -14 -93 -65 -296 33 Concessional 1 9 8 -25 -18 -16 -24 -26 -34 43 Bilateral 6 78 -83 -155 -153 -106 -12 -143 -99 -209 Concessional 5 -9 21 -38 48 40 15 -40 -76 -103 Private creditors 14 274 -139 340 -652 -562 -379 -438 -474 -545 Bonds 0 -20 0 125 -415 -410 -140 -258 -285 -312 Commercial banks -1 203 -120 261 -166 -108 -200 -148 -174 -226 Other private 15 91 -19 -46 -71 -44 -39 -31 -14 -8 Private nonguaranteed -8 -26 -7 16 -131 -148 -308 46 731 485 Bonds 0 0 0 -11 0 0 0 0 0 0 Commercial banks and other -8 -26 -7 27 -131 -148 -308 46 731 485 Memo: IBRD -2 15 -56 -125 -45 -50 -95 -15 -114 19 IDA 2 0 -1 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 36 900 911 1,781 1,586 2,099 1,789 1,953 2,001 2,167 Public and publicly guaranteed 22 559 874 1,717 1,454 1,438 1,099 1,276 1,298 1,363 Official creditors 12 214 488 723 703 678 621 734 762 756 Multilateral 6 35 304 509 399 426 509 502 526 525 Concessional 1 2 16 40 34 33 33 34 39 42 Bilateral 6 179 184 214 304 252 112 232 236 231 Concessional 4 13 10 84 97 105 84 122 116 121 Private creditors 11 346 385 994 752 760 478 542 536 607 Bonds 0 20 0 375 415 410 140 258 285 312 Commercial banks 3 294 159 532 266 296 300 252 228 271 Other private 7 31 226 87 71 54 39 31 23 24 Private nonguaranteed 14 341 37 64 131 661 689 677 703 805 Bonds 0 0 0 11 0 0 0 0 0 0 Commercial banks and other 14 341 37 53 131 661 689 677 703 805 Memo: IBRD 4 19 103 170 130 140 164 139 140 133 IDA 0 0 1 1 1 1 1 1 1 1 UNDISBURSED DEBT 142 1,039 1,646 1,903 1,886 1,208 975 708 881 697 Official creditors 60 695 1,533 1,596 1,558 1,078 918 603 815 636 Private creditors 82 345 113 307 328 130 57 105 66 61 Memorandum items Concessional LDOD 85 290 920 1,785 1,934 2,046 2,030 1,935 1,968 2,148 Variable rate LDOD 49 2,766 6,245 6,875 7,033 8,666 4,453 4,864 5,772 6,738 Public sector LDOD 195 3,301 9,865 12,876 13,089 13,556 11,337 11,251 11,244 11,371 Private sector LDOD 49 1,122 164 340 210 1,571 1,435 1,656 2,586 3,331 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.1 2.3 2.3 Deutsche mark 4.6 1.7 2.8 0.8 0.7 0.6 0.6 .. .. .. French franc 1.9 0.0 1.5 1.7 1.7 1.3 1.2 .. .. .. Japanese yen 0.0 2.7 6.9 3.6 4.7 5.8 6.3 5.6 6.0 6.2 Pound sterling 0.8 1.1 1.6 0.7 0.6 0.5 0.4 0.3 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 77.9 83.5 84.0 83.2 84.9 84.9 85.2 Multiple currency 19.6 28.1 29.7 14.5 8.0 7.0 7.4 6.7 6.1 5.6 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 All other currencies 1.2 1.4 2.4 0.7 0.8 0.8 0.9 0.3 0.3 0.3 191 ECUADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 249 62 0 0 4,837 15 0 53 Debt stock rescheduled .. .. 16 0 0 0 3,783 0 0 0 Principal rescheduled .. .. 152 0 0 0 624 3 0 42 Official .. .. 110 0 0 0 549 2 0 42 Private .. .. 42 0 0 0 74 1 0 0 Interest rescheduled .. .. 81 62 0 0 127 12 0 11 Official .. .. 61 0 0 0 121 12 0 11 Private .. .. 19 62 0 0 6 0 0 0 Debt forgiven .. .. 1 0 0 0 0 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 45 200 0 0 2,522 0 0 0 of which debt buyback .. .. 0 85 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 791 923 222 617 -2,540 764 1,971 412 Net flows on debt 25 1,174 0 1,235 76 -1,048 -181 915 1,771 172 Net change in interest arrears .. .. 451 7 1 -2 -79 -1 -2 0 Interest capitalized .. .. 81 62 0 0 127 12 0 11 Debt forgiveness or reduction .. .. -46 -115 0 0 -2,522 0 0 0 Cross-currency valuation .. .. 193 -282 109 21 -173 -148 197 249 Residual .. .. 113 17 35 1,646 289 -14 5 -19 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.2 10.7 6.4 9.3 7.0 6.9 7.0 5.6 4.7 1.6 Maturity (years) 20.0 14.9 17.4 10.9 14.4 21.9 16.6 10.7 13.1 21.3 Grace period (years) 3.9 3.8 4.2 5.3 3.9 4.8 5.0 2.7 3.1 5.3 Grant element (%) 24.0 -0.9 24.1 5.5 16.5 20.2 17.8 17.6 24.8 57.4 Official creditors Interest (%) 4.3 8.6 5.2 6.8 7.0 6.9 6.9 6.0 4.8 1.4 Maturity (years) 35.8 22.1 22.2 17.6 15.9 21.9 17.1 11.8 13.1 22.1 Grace period (years) 8.0 4.4 6.0 4.9 4.1 4.8 5.2 3.5 3.1 5.4 Grant element (%) 48.8 11.4 35.1 20.4 17.5 20.2 18.3 18.3 24.4 59.9 Private creditors Interest (%) 7.3 12.7 8.6 10.9 7.0 0.0 7.5 5.1 3.9 3.0 Maturity (years) 10.2 7.9 8.7 6.6 10.1 0.0 9.9 8.7 13.3 16.6 Grace period (years) 1.3 3.2 1.0 5.6 3.3 0.0 2.5 1.4 5.0 4.6 Grant element (%) 8.4 -12.7 4.0 -4.1 13.3 0.0 10.0 16.4 33.5 42.6 Memorandum items Commitments 78 1,148 641 1,778 780 83 404 418 670 495 Official creditors 30 564 413 700 581 83 378 265 647 425 Private creditors 48 584 228 1,078 199 0 26 153 23 70 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 301 188 110 54 24 10 6 3 1 0 Principal 1,904 1,194 1,185 936 689 685 600 591 1,811 475 Interest 846 744 760 663 609 578 545 536 494 320 Official creditors Disbursements 263 173 103 53 24 10 6 3 1 0 Principal 595 617 598 567 487 459 419 418 396 352 Interest 279 256 230 204 180 159 140 123 105 90 Bilateral creditors Disbursements 7 4 0 0 0 0 0 0 0 0 Principal 192 198 196 175 155 159 126 138 151 154 Interest 111 102 93 84 77 70 63 58 52 46 Multilateral creditors Disbursements 256 168 103 53 24 10 6 3 1 0 Principal 403 418 402 392 332 300 292 280 245 198 Interest 168 154 137 120 103 89 77 64 53 44 Private creditors Disbursements 38 15 7 0 0 0 0 0 0 0 Principal 1,309 578 587 369 202 226 181 174 1,414 123 Interest 568 488 530 458 429 418 405 414 388 230 Commercial banks Disbursements 30 11 5 0 0 0 0 0 0 0 Principal 537 103 66 50 45 32 28 12 11 11 Interest 38 11 8 6 5 4 3 2 2 1 Other private Disbursements 8 4 2 0 0 0 0 0 0 0 Principal 772 475 521 319 157 194 153 161 1,404 112 Interest 530 477 521 452 425 415 402 412 387 229 192 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1,802 19,131 33,017 30,102 32,440 31,045 29,187 29,333 30,001 31,383 Long-term debt (LDOD) 1,351 14,693 28,439 27,109 28,178 26,751 25,083 25,960 26,533 27,581 Public and publicly guaranteed 1,351 14,428 27,439 26,979 27,794 26,270 24,510 25,342 25,875 27,266 Private nonguaranteed 0 265 1,000 131 384 481 573 619 659 316 Use of IMF credit 49 411 125 0 0 0 0 0 0 0 Short-term debt 401 4,027 4,453 2,993 4,262 4,294 4,104 3,372 3,468 3,801 of which interest arrears on LDOD 4 383 1,441 5 2 1 0 0 0 0 Official creditors 4 383 872 2 0 0 0 0 0 0 Private creditors 1 0 569 2 2 1 0 0 0 0 Memo: principal arrears on LDOD 82 74 3,542 162 156 145 141 129 129 130 Official creditors 70 74 1,775 142 134 137 140 129 129 130 Private creditors 12 0 1,767 20 21 8 1 0 0 0 Memo: export credits 0 0 14,578 7,656 7,816 6,707 6,426 5,695 6,507 7,155 TOTAL DEBT FLOWS Disbursements 188 2,743 1,951 896 749 585 586 1,915 498 576 Long-term debt 170 2,680 1,951 896 749 585 586 1,915 498 576 IMF purchases 18 63 0 0 0 0 0 0 0 0 Principal repayments 234 446 1,751 959 964 1,207 1,100 1,111 1,248 1,980 Long-term debt 225 343 1,704 943 964 1,207 1,100 1,111 1,248 1,980 IMF repurchases 9 103 47 15 0 0 0 0 0 0 Net flows on debt -46 2,465 -1,301 581 1,056 -588 -702 73 -653 -1,071 of which short-term debt 0 168 -1,502 644 1,271 34 -189 -732 96 333 Interest payments (INT) 37 789 1,323 1,027 934 914 733 838 825 783 Long-term debt 37 349 1,007 764 707 684 619 688 729 638 IMF charges 0 18 14 0 0 0 0 0 0 0 Short-term debt 0 422 301 262 227 231 113 150 97 145 Net transfers on debt -82 1,676 -2,624 -446 122 -1,503 -1,435 -765 -1,479 -1,854 Total debt service paid (TDS) 270 1,235 3,073 1,985 1,898 2,121 1,832 1,949 2,073 2,763 Long-term debt 261 692 2,711 1,707 1,671 1,890 1,719 1,799 1,976 2,618 IMF repurchases and charges 9 121 61 16 0 0 0 0 0 0 Short-term debt (interest only) 0 422 301 262 227 231 113 150 97 145 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 100 3,051 5,183 2,386 2,075 1,864 1,955 2,007 334 -578 Net flow of long-term debt (ex. IMF) -54 2,337 248 -47 -215 -622 -513 804 -749 -1,405 Foreign direct investment (net) 1 548 734 891 1,076 1,065 1,235 510 647 237 Portfolio equity flows 0 0 0 515 -160 658 269 39 -217 37 Grants (excluding technical coop.) 153 165 4,201 1,028 1,374 763 964 654 653 552 Memo: technical coop. grants 14 156 812 573 474 771 472 733 783 557 official net resource flows 129 1,918 4,515 1,018 1,125 276 337 -56 -99 -217 private net resource flows -29 1,133 668 1,368 950 1,589 1,619 2,064 433 -361 NET TRANSFERS 63 2,687 4,162 1,509 1,234 1,081 1,244 1,291 -484 -1,263 Interest on long-term debt 37 349 1,007 764 707 684 619 688 729 638 Profit remittances on FDI 0 15 14 113 134 100 92 28 89 47 Memo: official net transfers 99 1,697 3,795 324 487 -354 -236 -631 -666 -765 private net transfers -36 990 367 1,185 747 1,435 1,480 1,922 182 -498 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 7,618 21,453 42,025 76,839 83,300 90,095 100,360 99,547 89,954 82,259 Exports of goods, serv. & inc. (XGS) .. 9,212 15,035 20,724 17,944 19,753 21,587 20,447 20,029 23,600 Worker remit. & comp. of employees 0 2,696 4,284 3,697 3,370 3,235 2,852 2,911 2,893 2,961 Imports of goods & services (MGS) .. 9,746 15,969 22,112 22,184 22,661 23,878 21,881 20,474 20,494 International reserves (RES) 165 2,480 3,620 19,371 18,824 15,190 13,785 13,598 14,076 14,604 Current account balance .. -436 2,327 -711 -2,566 -1,635 -971 -388 622 3,743 4. DEBT INDICATORS EDT / XGS (%) .. 207.7 219.6 145.3 180.8 157.2 135.2 143.5 149.8 133.0 EDT / GNI (%) 23.6 89.2 78.6 39.2 38.9 34.5 29.1 29.5 33.4 38.2 TDS / XGS (%) .. 13.4 20.4 9.6 10.6 10.7 8.5 9.5 10.3 11.7 INT / XGS (%) .. 8.6 8.8 5.0 5.2 4.6 3.4 4.1 4.1 3.3 INT / GNI (%) 0.5 3.7 3.1 1.3 1.1 1.0 0.7 0.8 0.9 1.0 RES / EDT (%) 9.2 13.0 11.0 64.3 58.0 48.9 47.2 46.4 46.9 46.5 RES / MGS (months) .. 3.1 2.7 10.5 10.2 8.0 6.9 7.5 8.3 8.6 Short-term / EDT (%) 22.3 21.1 13.5 9.9 13.1 13.8 14.1 11.5 11.6 12.1 Concessional / EDT (%) 47.9 42.4 37.9 75.3 72.6 72.9 72.7 68.5 70.6 71.9 Multilateral / EDT (%) 1.2 13.7 10.4 13.2 13.2 13.2 13.5 12.6 12.9 13.1 193 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1,351 14,693 28,439 27,109 28,178 26,751 25,083 25,960 26,533 27,581 Public and publicly guaranteed 1,351 14,428 27,439 26,979 27,794 26,270 24,510 25,342 25,875 27,266 Official creditors 1,189 12,623 21,190 25,903 26,920 25,712 23,970 23,355 24,658 26,372 Multilateral 22 2,625 3,427 3,966 4,267 4,111 3,942 3,696 3,876 4,114 Concessional 0 1,885 1,297 2,015 2,212 2,226 2,264 2,218 2,316 2,390 Bilateral 1,167 9,998 17,763 21,937 22,653 21,601 20,028 19,659 20,782 22,258 Concessional 864 6,231 11,224 20,654 21,339 20,397 18,940 17,876 18,858 20,159 Private creditors 162 1,805 6,249 1,076 874 558 540 1,987 1,217 894 Bonds 0 132 0 0 0 0 0 1,500 746 695 Commercial banks 36 257 624 520 404 242 312 326 334 64 Other private 125 1,416 5,625 556 470 316 227 161 137 135 Private nonguaranteed 0 265 1,000 131 384 481 573 619 659 316 Bonds 0 0 0 0 0 100 100 100 100 100 Commercial banks and other 0 265 1,000 131 384 381 473 519 559 216 Memo: IBRD 22 420 1,480 869 846 761 639 550 542 539 IDA 0 307 921 1,206 1,268 1,273 1,266 1,242 1,316 1,386 DISBURSEMENTS 170 2,680 1,951 896 749 585 586 1,915 498 576 Public and publicly guaranteed 170 2,554 1,900 819 470 242 379 1,754 323 576 Official creditors 137 1,904 1,198 631 460 231 235 194 278 556 Multilateral 0 241 269 496 302 156 174 169 262 534 Concessional 0 53 56 255 214 111 104 66 82 62 Bilateral 137 1,663 929 135 157 75 61 25 16 22 Concessional 53 1,011 647 134 157 70 50 20 12 16 Private creditors 33 650 703 188 10 10 144 1,560 46 20 Bonds 0 30 0 0 0 0 0 1,500 0 0 Commercial banks 0 8 170 187 9 9 132 60 46 20 Other private 33 612 532 1 1 1 12 0 0 0 Private nonguaranteed 0 126 51 77 279 343 207 162 175 0 Bonds 0 0 0 0 0 100 0 0 0 0 Commercial banks and other 0 126 51 77 279 243 207 162 175 0 Memo: IBRD 0 169 92 102 48 31 6 17 25 29 IDA 0 41 8 158 57 33 49 32 54 33 PRINCIPAL REPAYMENTS 225 343 1,704 943 964 1,207 1,100 1,111 1,248 1,980 Public and publicly guaranteed 225 297 1,572 870 932 961 984 995 1,112 1,637 Official creditors 162 151 884 641 709 719 863 904 1,029 1,326 Multilateral 6 18 282 355 295 291 299 295 345 544 Concessional 0 0 55 39 54 61 82 87 93 98 Bilateral 156 134 603 286 414 428 564 609 685 782 Concessional 92 119 214 250 380 400 497 539 603 689 Private creditors 63 145 687 229 223 242 121 91 83 312 Bonds 0 4 1 0 0 0 0 0 0 0 Commercial banks 0 65 34 86 133 160 57 44 43 293 Other private 63 76 653 143 91 82 64 48 40 18 Private nonguaranteed 0 46 132 73 32 246 116 116 136 343 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 46 132 73 32 246 116 116 136 343 Memo: IBRD 6 6 176 225 114 106 87 72 72 77 IDA 0 0 7 16 17 20 23 29 34 37 NET FLOWS ON DEBT -54 2,337 248 -47 -215 -622 -513 804 -749 -1,405 Public and publicly guaranteed -54 2,257 329 -51 -462 -719 -604 759 -789 -1,062 Official creditors -24 1,753 313 -10 -249 -488 -628 -710 -752 -770 Multilateral -6 224 -13 141 8 -135 -125 -126 -83 -10 Concessional 0 53 1 216 160 50 22 -21 -11 -36 Bilateral -19 1,529 326 -151 -257 -352 -502 -584 -669 -760 Concessional -39 892 432 -116 -223 -329 -448 -519 -591 -673 Private creditors -30 505 15 -41 -213 -232 23 1,469 -37 -292 Bonds 0 26 -1 0 0 0 0 1,500 0 0 Commercial banks 0 -58 137 101 -123 -151 75 16 3 -274 Other private -30 536 -121 -142 -89 -81 -52 -48 -40 -18 Private nonguaranteed 0 80 -81 4 247 97 91 46 40 -343 Bonds 0 0 0 0 0 100 0 0 0 0 Commercial banks and other 0 80 -81 4 247 -3 91 46 40 -343 Memo: IBRD -6 162 -84 -123 -67 -74 -81 -55 -47 -48 IDA 0 41 1 142 39 14 26 3 21 -4 194 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 37 349 1,007 764 707 684 619 688 729 638 Public and publicly guaranteed 37 327 918 757 700 675 603 671 713 623 Official creditors 30 221 719 694 638 630 573 575 567 548 Multilateral 2 40 184 201 195 191 147 137 127 104 Concessional 0 7 14 29 33 35 34 34 34 33 Bilateral 28 181 535 493 443 439 425 437 440 444 Concessional 18 146 196 387 347 345 338 325 298 301 Private creditors 7 106 199 63 62 46 31 96 146 75 Bonds 0 11 0 0 0 0 0 63 127 65 Commercial banks 0 36 45 25 35 24 16 23 13 6 Other private 7 59 153 38 28 21 15 10 6 4 Private nonguaranteed 0 23 89 8 7 8 16 17 16 15 Bonds 0 0 0 0 0 0 12 12 12 12 Commercial banks and other 0 23 89 8 7 8 4 5 4 3 Memo: IBRD 2 29 138 72 56 51 41 34 28 24 IDA 0 2 7 8 9 9 9 9 10 10 NET TRANSFERS ON DEBT -91 1,988 -759 -812 -922 -1,306 -1,133 116 -1,478 -2,042 Public and publicly guaranteed -91 1,931 -589 -808 -1,162 -1,395 -1,208 88 -1,501 -1,685 Official creditors -54 1,532 -406 -704 -887 -1,117 -1,201 -1,285 -1,319 -1,318 Multilateral -7 184 -197 -59 -187 -326 -273 -263 -209 -113 Concessional 0 46 -13 187 127 15 -12 -54 -45 -69 Bilateral -47 1,348 -209 -644 -700 -791 -928 -1,022 -1,109 -1,204 Concessional -57 746 236 -502 -570 -674 -785 -844 -889 -974 Private creditors -37 399 -183 -104 -275 -277 -7 1,372 -183 -367 Bonds 0 15 -1 0 0 0 0 1,437 -127 -65 Commercial banks 0 -94 91 76 -158 -175 59 -7 -10 -279 Other private -37 478 -274 -179 -117 -102 -67 -57 -46 -22 Private nonguaranteed 0 57 -170 -4 241 89 75 28 24 -358 Bonds 0 0 0 0 0 100 -12 -12 -12 -12 Commercial banks and other 0 57 -170 -4 241 -11 87 40 36 -346 Memo: IBRD -7 133 -222 -194 -123 -126 -122 -89 -75 -72 IDA 0 39 -6 134 30 4 17 -7 11 -14 DEBT SERVICE (LTDS) 261 692 2,711 1,707 1,671 1,890 1,719 1,799 1,976 2,618 Public and publicly guaranteed 261 623 2,489 1,627 1,632 1,636 1,587 1,666 1,825 2,260 Official creditors 191 372 1,604 1,335 1,347 1,349 1,435 1,478 1,596 1,874 Multilateral 7 58 466 555 490 482 446 432 471 648 Concessional 0 7 69 68 87 96 117 120 128 131 Bilateral 184 315 1,138 779 857 867 989 1,046 1,125 1,226 Concessional 110 265 411 636 728 745 835 864 901 990 Private creditors 70 251 886 292 286 288 152 188 228 387 Bonds 0 15 1 0 0 0 0 63 127 65 Commercial banks 0 101 79 112 167 184 73 67 56 299 Other private 70 135 806 180 118 104 79 57 46 22 Private nonguaranteed 0 69 221 81 38 254 132 133 151 358 Bonds 0 0 0 0 0 0 12 12 12 12 Commercial banks and other 0 69 221 81 38 254 120 121 139 346 Memo: IBRD 7 36 314 297 170 157 128 106 100 101 IDA 0 2 14 24 26 29 32 39 43 47 UNDISBURSED DEBT 315 4,999 4,573 2,072 1,763 1,430 1,808 1,619 1,646 1,862 Official creditors 282 4,163 3,335 1,950 1,676 1,400 1,660 1,537 1,609 1,844 Private creditors 33 837 1,237 122 87 30 148 82 37 19 Memorandum items Concessional LDOD 864 8,115 12,521 22,669 23,550 22,623 21,204 20,094 21,174 22,549 Variable rate LDOD 0 663 4,399 1,375 1,545 1,461 1,542 1,579 1,799 1,380 Public sector LDOD 1,351 14,427 27,418 26,977 27,792 26,268 24,508 25,341 25,874 27,265 Private sector LDOD 0 266 1,021 132 386 483 574 620 660 317 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 29.0 32.6 36.1 Deutsche mark 10.0 4.8 12.3 10.4 10.8 9.8 9.8 .. .. .. French franc 0.9 5.6 14.0 18.1 18.2 16.2 15.5 .. .. .. Japanese yen 0.0 4.0 8.2 11.6 12.4 14.6 13.7 11.3 11.9 12.3 Pound sterling 2.9 1.2 2.5 1.5 1.4 1.3 1.2 2.0 2.1 2.1 Swiss franc 2.4 1.3 3.0 2.3 2.3 2.0 2.1 1.9 2.1 2.2 U.S.dollars 23.0 73.0 41.8 39.5 37.5 38.4 40.1 43.7 39.3 35.1 Multiple currency 1.6 3.3 8.4 6.4 6.6 6.4 6.3 5.3 4.9 4.1 Special drawing rights 0.0 0.0 0.6 0.1 0.1 0.1 0.3 0.2 0.3 0.7 All other currencies 59.0 6.7 9.1 10.2 10.8 11.1 11.0 6.7 6.9 7.3 195 EGYPT, ARAB REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 156 53 96 22 0 0 1 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 95 44 85 13 3 1 1 Official .. .. 0 23 24 10 2 2 0 0 Private .. .. 0 72 21 75 11 1 1 1 Interest rescheduled .. .. 0 18 11 10 1 0 0 0 Official .. .. 0 3 2 1 0 0 0 0 Private .. .. 0 15 9 9 1 0 0 0 Debt forgiven .. .. 10,576 27 17 1 25 0 0 0 Memo: interest forgiven .. .. 2,481 2 1 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 .. .. -12,667 -1,436 2,338 -1,395 -1,858 146 669 1,381 Net flows on debt -46 2,465 -1,301 581 1,056 -588 -702 73 -653 -1,071 Net change in interest arrears .. .. -1,938 1 -2 -1 -1 0 0 0 Interest capitalized .. .. 0 18 11 10 1 0 0 0 Debt forgiveness or reduction .. .. -10,576 -27 -17 -1 -25 0 0 0 Cross-currency valuation .. .. 1,460 -2,027 1,065 -991 -899 -943 2,197 2,494 Residual .. .. -312 18 224 177 -232 1,016 -875 -41 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.2 5.0 5.3 6.1 3.4 0.8 5.3 8.4 2.2 2.7 Maturity (years) 14.3 26.6 25.5 19.1 27.3 34.7 16.4 8.5 10.1 12.2 Grace period (years) 7.8 6.6 6.9 5.9 7.7 10.2 4.7 8.4 3.1 3.9 Grant element (%) 26.5 39.1 36.0 23.9 52.5 78.7 27.9 8.1 31.7 37.7 Official creditors Interest (%) 5.2 3.3 4.7 5.1 3.4 0.8 4.7 0.8 2.2 2.7 Maturity (years) 14.9 36.4 28.2 24.4 27.3 34.7 21.8 49.8 10.1 12.2 Grace period (years) 8.2 8.9 7.6 7.6 7.7 10.2 5.5 10.3 3.1 3.9 Grant element (%) 27.5 56.9 41.8 36.3 52.5 78.7 36.0 83.2 31.7 37.7 Private creditors Interest (%) 5.9 7.9 8.4 7.4 0.0 0.0 6.8 8.5 0.0 0.0 Maturity (years) 4.7 9.6 11.5 11.8 0.0 0.0 3.0 8.4 0.0 0.0 Grace period (years) 1.5 2.5 3.4 3.7 0.0 0.0 2.9 8.4 0.0 0.0 Grant element (%) 10.6 8.3 6.9 7.1 0.0 0.0 7.8 7.9 0.0 0.0 Memorandum items Commitments 306 2,176 1,223 513 286 155 917 1,504 451 688 Official creditors 287 1,378 1,022 296 286 155 652 4 451 688 Private creditors 18 797 201 217 0 0 265 1,500 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 495 368 245 175 116 71 46 25 17 7 Principal 1,959 1,593 1,549 1,671 1,745 1,762 1,778 2,427 1,777 1,798 Interest 734 679 637 602 559 514 469 395 324 284 Official creditors Disbursements 483 366 245 175 116 71 46 25 17 7 Principal 1,586 1,558 1,538 1,663 1,737 1,754 1,771 1,725 1,770 1,790 Interest 650 611 570 536 493 449 404 361 321 281 Bilateral creditors Disbursements 119 68 39 23 12 4 2 0 0 0 Principal 1,200 1,245 1,259 1,287 1,350 1,367 1,420 1,475 1,546 1,574 Interest 545 514 482 452 421 389 357 324 290 254 Multilateral creditors Disbursements 364 297 206 152 104 67 44 25 17 7 Principal 386 313 278 376 387 387 351 249 224 216 Interest 105 97 88 84 72 59 47 37 31 27 Private creditors Disbursements 12 2 0 0 0 0 0 0 0 0 Principal 373 35 11 8 8 8 8 703 8 8 Interest 84 68 67 66 66 65 65 34 3 3 Commercial banks Disbursements 11 2 0 0 0 0 0 0 0 0 Principal 48 25 3 1 0 0 0 0 0 0 Interest 2 1 0 0 0 0 0 0 0 0 Other private Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 325 10 8 7 7 8 8 703 8 8 Interest 82 67 66 66 66 65 65 34 3 3 196 EL SALVADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 182 911 2,149 3,251 3,373 3,793 4,528 5,313 6,002 7,080 Long-term debt (LDOD) 176 659 1,938 2,441 2,523 2,740 2,883 3,406 4,838 5,321 Public and publicly guaranteed 88 499 1,913 2,396 2,442 2,647 2,772 3,250 4,712 5,213 Private nonguaranteed 88 161 26 45 82 93 111 156 126 108 Use of IMF credit 6 32 0 0 0 0 0 0 0 0 Short-term debt 0 220 210 810 849 1,053 1,645 1,907 1,164 1,759 of which interest arrears on LDOD 0 0 7 1 1 0 0 0 0 0 Official creditors 0 0 7 1 1 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 0 6 14 5 0 0 0 0 0 Official creditors 0 0 6 13 5 0 0 0 0 0 Private creditors 0 0 0 1 0 0 0 0 0 0 Memo: export credits 0 0 236 427 133 130 96 110 106 98 TOTAL DEBT FLOWS Disbursements 31 149 108 333 325 388 362 730 1,565 616 Long-term debt 31 109 108 333 325 388 362 730 1,565 616 IMF purchases 0 40 0 0 0 0 0 0 0 0 Principal repayments 27 35 124 127 287 167 153 168 190 221 Long-term debt 22 35 119 127 287 167 153 168 190 221 IMF repurchases 5 0 5 0 0 0 0 0 0 0 Net flows on debt 4 56 2 422 77 426 801 824 633 990 of which short-term debt 0 -58 18 216 39 204 592 262 -743 595 Interest payments (INT) 9 61 84 152 159 175 221 216 264 326 Long-term debt 9 35 75 110 111 122 147 160 221 293 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 25 9 42 48 53 73 55 43 32 Net transfers on debt -5 -5 -83 270 -82 251 580 608 369 664 Total debt service paid (TDS) 36 96 208 279 446 341 374 384 453 547 Long-term debt 31 71 194 237 398 288 300 329 410 514 IMF repurchases and charges 5 0 5 0 0 0 0 0 0 0 Short-term debt (interest only) 0 25 9 42 48 53 73 55 43 32 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 14 111 151 357 1,261 533 455 994 1,950 587 Net flow of long-term debt (ex. IMF) 9 74 -11 206 38 222 209 562 1,376 395 Foreign direct investment (net) 4 6 2 59 1,104 216 173 279 470 89 Portfolio equity flows 0 0 0 0 0 0 0 2 -2 0 Grants (excluding technical coop.) 1 31 160 92 119 95 72 150 107 103 Memo: technical coop. grants 7 9 127 119 64 70 85 90 107 123 official net resource flows 5 104 143 251 186 148 128 306 271 181 private net resource flows 10 7 7 106 1,075 385 327 688 1,679 406 NET TRANSFERS 5 34 44 247 1,121 300 248 760 1,640 217 Interest on long-term debt 9 35 75 110 111 122 147 160 221 293 Profit remittances on FDI 0 41 31 0 29 111 60 73 89 77 Memo: official net transfers 2 82 81 151 82 34 5 181 159 59 private net transfers 3 -48 -37 96 1,038 266 243 579 1,481 158 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,123 3,490 4,727 10,971 11,845 12,183 12,881 13,547 13,989 15,287 Exports of goods, serv. & inc. (XGS) .. 1,282 1,360 4,188 4,498 4,661 5,554 5,675 5,897 6,232 Worker remit. & comp. of employees 0 49 366 1,199 1,340 1,387 1,765 1,926 1,954 2,122 Imports of goods & services (MGS) .. 1,289 1,785 4,447 4,777 5,108 6,031 6,213 6,396 6,978 International reserves (RES) 64 382 595 1,444 1,748 2,140 2,051 1,871 1,784 2,139 Current account balance .. 34 -152 -98 -91 -239 -431 -150 -412 -734 4. DEBT INDICATORS EDT / XGS (%) .. 71.1 158.0 77.6 75.0 81.4 81.5 93.6 101.8 113.6 EDT / GNI (%) 16.2 26.1 45.5 29.6 28.5 31.1 35.2 39.2 42.9 46.3 TDS / XGS (%) .. 7.5 15.3 6.7 9.9 7.3 6.7 6.8 7.7 8.8 INT / XGS (%) .. 4.7 6.2 3.6 3.5 3.8 4.0 3.8 4.5 5.2 INT / GNI (%) 0.8 1.7 1.8 1.4 1.3 1.4 1.7 1.6 1.9 2.1 RES / EDT (%) 35.0 41.9 27.7 44.4 51.8 56.4 45.3 35.2 29.7 30.2 RES / MGS (months) .. 3.6 4.0 3.9 4.4 5.0 4.1 3.6 3.3 3.7 Short-term / EDT (%) 0.0 24.1 9.8 24.9 25.2 27.8 36.3 35.9 19.4 24.8 Concessional / EDT (%) 21.2 23.9 56.3 36.1 35.1 30.8 24.8 20.3 17.9 15.8 Multilateral / EDT (%) 22.3 28.3 36.6 51.2 52.1 48.1 41.2 37.3 36.6 32.9 197 EL SALVADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 176 659 1,938 2,441 2,523 2,740 2,883 3,406 4,838 5,321 Public and publicly guaranteed 88 499 1,913 2,396 2,442 2,647 2,772 3,250 4,712 5,213 Official creditors 70 460 1,729 2,266 2,374 2,429 2,437 2,556 2,772 2,932 Multilateral 41 258 786 1,665 1,758 1,823 1,864 1,983 2,198 2,328 Concessional 10 134 414 656 646 632 608 583 564 563 Bilateral 30 202 943 601 616 606 574 572 574 604 Concessional 29 84 795 516 538 537 515 497 513 557 Private creditors 17 39 184 130 67 218 335 694 1,941 2,281 Bonds 3 0 0 0 0 150 202 558 1,809 2,158 Commercial banks 14 8 127 83 19 26 102 109 99 86 Other private 0 31 57 47 49 41 30 28 33 38 Private nonguaranteed 88 161 26 45 82 93 111 156 126 108 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 88 161 26 45 82 93 111 156 126 108 Memo: IBRD 25 87 140 275 287 293 309 334 371 372 IDA 8 27 23 19 18 17 16 15 14 14 DISBURSEMENTS 31 109 108 333 325 388 362 730 1,565 616 Public and publicly guaranteed 8 109 108 289 260 348 312 670 1,565 609 Official creditors 6 81 77 267 254 182 171 300 311 260 Multilateral 5 36 44 231 236 163 151 246 299 219 Concessional 2 15 33 25 8 8 4 2 2 1 Bilateral 2 45 33 37 19 19 21 54 12 41 Concessional 2 19 18 35 18 19 21 26 11 41 Private creditors 1 29 30 22 6 167 140 370 1,254 349 Bonds 0 0 0 0 0 150 52 356 1,252 349 Commercial banks 1 2 25 15 4 15 87 15 3 0 Other private 0 26 5 7 3 2 1 0 0 0 Private nonguaranteed 24 0 0 44 65 40 50 60 0 7 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 24 0 0 44 65 40 50 60 0 7 Memo: IBRD 1 10 2 35 34 23 34 49 63 38 IDA 0 3 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 22 35 119 127 287 167 153 168 190 221 Public and publicly guaranteed 6 17 105 126 259 138 120 153 160 196 Official creditors 3 8 94 108 188 129 116 144 147 182 Multilateral 3 5 57 85 164 102 85 111 109 137 Concessional 0 1 11 15 20 25 22 24 25 28 Bilateral 0 3 37 24 24 27 31 33 38 45 Concessional 0 1 8 17 16 19 19 22 23 31 Private creditors 3 10 11 18 72 9 4 9 13 14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 3 2 9 14 68 7 4 9 12 13 Other private 0 8 2 4 4 3 1 1 1 1 Private nonguaranteed 16 18 14 1 28 28 33 15 30 25 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 16 18 14 1 28 28 33 15 30 25 Memo: IBRD 2 3 15 24 28 17 17 24 27 37 IDA 0 0 1 1 1 1 1 1 1 1 NET FLOWS ON DEBT 9 74 -11 206 38 222 209 562 1,376 395 Public and publicly guaranteed 2 92 3 163 1 210 191 517 1,406 413 Official creditors 3 73 -17 159 66 53 55 156 164 78 Multilateral 2 31 -13 146 72 61 65 135 190 83 Concessional 2 14 23 10 -11 -17 -18 -23 -23 -27 Bilateral 1 42 -4 13 -5 -8 -10 21 -26 -4 Concessional 2 18 11 19 2 -1 1 4 -12 10 Private creditors -2 19 19 4 -65 157 136 361 1,241 335 Bonds 0 0 0 0 0 150 52 356 1,252 349 Commercial banks -2 1 16 1 -65 8 84 6 -10 -13 Other private 0 18 3 3 -1 -1 0 -1 0 -1 Private nonguaranteed 8 -18 -14 43 37 12 18 45 -30 -18 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 -18 -14 43 37 12 18 45 -30 -18 Memo: IBRD -1 7 -13 12 7 6 17 25 36 1 IDA 0 3 -1 -1 -1 -1 -1 -1 -1 -1 198 EL SALVADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 9 35 75 110 111 122 147 160 221 293 Public and publicly guaranteed 4 24 72 107 106 116 141 154 212 286 Official creditors 2 21 62 101 103 114 123 125 112 122 Multilateral 2 11 50 79 83 93 102 106 94 104 Concessional 0 2 8 11 11 12 11 11 11 12 Bilateral 0 10 13 21 20 21 21 19 19 18 Concessional 0 2 9 14 14 14 15 14 14 14 Private creditors 1 3 9 7 3 2 18 29 100 164 Bonds 0 0 0 0 0 0 17 19 91 156 Commercial banks 1 1 8 5 2 1 1 9 9 8 Other private 0 2 2 1 1 1 1 0 0 0 Private nonguaranteed 6 11 3 3 5 6 7 6 8 7 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 6 11 3 3 5 6 7 6 8 7 Memo: IBRD 1 7 14 19 20 20 24 24 19 17 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 0 39 -86 96 -73 100 61 401 1,155 102 Public and publicly guaranteed -2 68 -69 56 -105 94 51 363 1,193 127 Official creditors 1 52 -79 59 -37 -61 -67 30 52 -44 Multilateral 0 20 -62 67 -11 -31 -37 28 97 -22 Concessional 2 12 14 -1 -22 -29 -29 -34 -34 -39 Bilateral 1 32 -16 -8 -26 -29 -31 2 -45 -22 Concessional 1 16 2 5 -12 -15 -13 -10 -25 -4 Private creditors -3 16 10 -3 -68 155 118 332 1,141 170 Bonds 0 0 0 0 0 150 35 336 1,161 193 Commercial banks -3 0 8 -4 -66 6 83 -3 -19 -22 Other private 0 16 2 1 -2 -1 0 -1 -1 -1 Private nonguaranteed 2 -29 -17 40 32 6 11 39 -38 -25 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 -29 -17 40 32 6 11 39 -38 -25 Memo: IBRD -2 0 -27 -7 -13 -14 -7 2 17 -16 IDA 0 3 -1 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 31 71 194 237 398 288 300 329 410 514 Public and publicly guaranteed 9 42 177 233 365 254 261 307 372 482 Official creditors 5 29 156 209 291 243 239 269 259 304 Multilateral 5 16 107 164 247 194 187 218 203 241 Concessional 0 3 19 26 30 36 33 35 36 40 Bilateral 1 13 50 45 44 48 51 52 56 63 Concessional 0 3 17 31 30 33 34 36 37 45 Private creditors 4 13 21 25 75 12 23 38 113 178 Bonds 0 0 0 0 0 0 17 19 91 156 Commercial banks 4 3 17 19 70 8 5 18 22 22 Other private 0 10 4 6 5 3 1 1 1 1 Private nonguaranteed 22 29 17 4 33 34 39 21 38 32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 22 29 17 4 33 34 39 21 38 32 Memo: IBRD 4 10 29 42 47 37 41 48 46 54 IDA 0 0 1 1 1 1 1 1 1 1 UNDISBURSED DEBT 38 424 324 907 786 813 790 776 804 709 Official creditors 38 390 322 887 766 788 776 771 801 706 Private creditors 0 34 2 20 20 25 14 6 3 3 Memorandum items Concessional LDOD 39 218 1,209 1,173 1,184 1,169 1,123 1,080 1,077 1,120 Variable rate LDOD 88 181 192 610 736 876 994 1,207 1,343 1,402 Public sector LDOD 88 496 1,905 2,390 2,436 2,642 2,767 3,245 4,708 5,209 Private sector LDOD 88 163 34 51 87 99 116 161 130 112 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.8 2.2 2.4 Deutsche mark 0.0 0.2 3.7 4.1 4.4 3.5 3.1 .. .. .. French franc 0.0 5.5 3.3 1.6 1.5 1.2 0.4 .. .. .. Japanese yen 0.0 3.6 1.3 3.7 4.9 5.6 5.3 4.3 3.4 3.5 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 65.7 66.1 68.2 71.1 76.5 83.3 84.2 Multiple currency 31.1 32.6 33.7 23.7 21.8 20.1 18.8 15.5 10.4 9.3 Special drawing rights 0.0 0.0 0.0 0.4 0.5 0.5 0.5 0.4 0.3 0.2 All other currencies 3.6 20.1 1.4 0.7 0.8 0.8 0.8 0.6 0.4 0.4 199 EL SALVADOR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 1 17 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 .. .. 67 337 121 421 735 785 689 1,078 Net flows on debt 4 56 2 422 77 426 801 824 633 990 Net change in interest arrears .. .. -17 -2 0 -1 0 0 0 0 Interest capitalized .. .. 43 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 -1 -17 0 0 0 Cross-currency valuation .. .. 7 -149 -48 28 -41 -39 52 65 Residual .. .. 31 65 93 -32 -8 0 5 23 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.7 4.2 4.6 7.0 7.0 7.3 8.2 7.9 7.5 6.7 Maturity (years) 23.4 27.6 29.8 16.9 21.9 16.1 15.2 15.4 20.6 20.1 Grace period (years) 6.0 8.4 7.2 3.7 3.8 5.7 3.8 6.1 17.8 14.5 Grant element (%) 37.6 45.8 45.5 17.1 18.0 17.4 10.4 11.7 17.2 23.2 Official creditors Interest (%) 4.4 3.3 3.2 7.0 7.1 5.9 7.1 7.3 5.3 4.9 Maturity (years) 25.0 28.4 35.6 17.6 22.5 22.8 19.9 21.8 17.3 20.5 Grace period (years) 6.5 8.9 8.8 3.9 3.9 5.2 4.5 1.8 4.7 5.8 Grant element (%) 40.7 53.5 56.6 17.7 18.4 27.2 18.0 16.3 29.0 32.5 Private creditors Interest (%) 7.5 11.7 10.4 7.0 6.6 9.0 9.7 8.5 8.1 7.8 Maturity (years) 7.2 20.7 5.0 7.0 4.9 7.6 8.8 9.9 21.4 19.8 Grace period (years) 0.7 4.3 0.5 1.1 0.9 6.3 3.0 9.8 21.4 19.8 Grant element (%) 6.9 -17.3 -1.4 8.7 7.7 4.9 0.2 7.9 14.0 17.5 Memorandum items Commitments 12 225 131 195 156 394 307 668 1,600 562 Official creditors 11 200 106 181 150 222 177 306 349 213 Private creditors 1 25 25 14 6 172 130 362 1,252 349 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 238 176 126 83 39 24 14 7 0 0 Principal 271 277 408 311 261 247 243 878 207 187 Interest 331 325 316 289 275 263 252 241 176 168 Official creditors Disbursements 236 175 126 83 39 24 14 7 0 0 Principal 233 244 228 234 239 225 222 213 206 186 Interest 138 134 127 119 109 99 89 80 71 62 Bilateral creditors Disbursements 25 19 13 10 7 6 5 4 0 0 Principal 40 40 37 31 35 37 37 36 35 35 Interest 20 19 17 16 15 14 13 12 11 10 Multilateral creditors Disbursements 211 157 112 73 32 18 9 3 0 0 Principal 194 205 191 204 204 188 184 177 171 151 Interest 117 115 110 103 94 84 76 67 59 52 Private creditors Disbursements 2 0 0 0 0 0 0 0 0 0 Principal 38 32 180 77 22 22 21 665 1 1 Interest 193 191 189 170 166 164 163 161 106 105 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 16 14 14 12 9 9 9 0 0 0 Interest 7 6 4 3 2 1 1 0 0 0 Other private Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 22 18 165 64 13 13 12 665 1 1 Interest 186 185 184 167 163 163 162 161 106 105 200 EQUATORIAL GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5.0 75.6 241.1 283.2 306.1 271.1 247.8 238.9 260.4 319.3 Long-term debt (LDOD) 5.0 52.5 209.2 208.6 216.5 207.9 198.9 192.1 209.1 227.7 Public and publicly guaranteed 5.0 52.5 209.2 208.6 216.5 207.9 198.9 192.1 209.1 227.7 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 16.1 5.8 13.2 10.8 8.0 4.9 2.2 1.1 0.3 Short-term debt 0.0 7.0 26.0 61.4 78.8 55.2 44.0 44.6 50.1 91.3 of which interest arrears on LDOD 0.0 0.0 19.7 37.4 39.8 37.2 36.0 35.5 39.5 44.3 Official creditors 0.0 0.0 17.3 32.8 34.9 32.9 32.0 31.6 35.0 39.1 Private creditors 0.0 0.0 2.3 4.6 4.9 4.3 4.0 3.9 4.4 5.2 Memo: principal arrears on LDOD 0.3 5.6 28.4 91.0 97.0 95.0 94.7 96.2 106.9 117.4 Official creditors 0.3 5.6 24.4 76.8 82.0 81.8 82.4 84.2 93.2 101.3 Private creditors 0.0 0.0 4.0 14.3 15.0 13.2 12.3 12.1 13.7 16.1 TOTAL DEBT FLOWS Disbursements 0.0 37.6 9.9 2.6 1.1 3.8 1.7 0.3 2.0 1.1 Long-term debt 0.0 19.6 9.9 2.6 1.1 3.8 1.7 0.3 2.0 1.1 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 4.1 3.7 3.5 4.1 3.6 2.5 4.7 Long-term debt 0.0 1.7 0.6 1.1 0.8 1.0 1.4 1.0 1.3 3.8 IMF repurchases 0.0 0.0 3.6 3.0 2.9 2.5 2.7 2.6 1.2 0.9 Net flows on debt 0.0 40.9 9.7 19.0 12.4 -20.7 -12.3 -2.2 1.1 32.7 of which short-term debt 0.0 5.0 4.0 20.6 15.0 -21.0 -10.0 1.1 1.6 36.3 Interest payments (INT) 0.0 0.8 0.9 1.8 2.3 1.5 1.2 1.0 1.1 2.6 Long-term debt 0.0 0.1 0.5 1.0 0.7 0.7 0.8 0.6 0.7 1.0 IMF charges 0.0 0.2 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Short-term debt 0.0 0.6 0.2 0.7 1.6 0.8 0.4 0.4 0.4 1.6 Net transfers on debt 0.0 40.0 8.8 17.2 10.1 -22.2 -13.5 -3.2 -0.1 30.1 Total debt service paid (TDS) 0.0 2.6 5.1 5.9 6.0 5.0 5.3 4.6 3.6 7.3 Long-term debt 0.0 1.8 1.1 2.1 1.5 1.7 2.2 1.6 2.0 4.8 IMF repurchases and charges 0.0 0.2 3.8 3.1 2.9 2.5 2.7 2.6 1.2 0.9 Short-term debt (interest only) 0.0 0.6 0.2 0.7 1.6 0.8 0.4 0.4 0.4 1.6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 0.0 19.2 63.9 68.0 304.7 266.0 126.1 959.7 336.5 1,439.6 Net flow of long-term debt (ex. IMF) 0.0 17.8 9.4 1.4 0.3 2.8 0.3 -0.7 0.7 -2.7 Foreign direct investment (net) 0.0 0.0 11.1 53.5 291.5 251.9 107.9 945.0 323.4 1,430.7 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 13.1 12.9 11.3 17.9 15.4 12.5 11.6 Memo: technical coop. grants 0.0 2.0 12.9 12.4 13.2 10.1 7.9 4.9 9.8 12.6 official net resource flows 0.0 14.8 52.8 14.5 13.2 14.1 18.2 14.7 13.1 8.9 private net resource flows 0.0 4.5 11.1 53.5 291.5 251.9 107.9 945.0 323.4 1,430.7 NET TRANSFERS 0.0 19.1 63.4 67.0 304.1 265.3 125.3 959.1 335.8 1,438.6 Interest on long-term debt 0.0 0.1 0.5 1.0 0.7 0.7 0.8 0.6 0.7 1.0 Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memo: official net transfers 0.0 14.7 52.3 13.5 12.6 13.4 17.4 14.1 12.4 7.9 private net transfers 0.0 4.4 11.1 53.5 291.5 251.9 107.9 945.0 323.4 1,430.7 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 66.9 .. 123.5 415.8 404.9 416.6 448.0 454.3 .. .. Exports of goods, serv. & inc. (XGS) .. .. 42.3 .. .. .. .. .. .. .. 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 .. .. .. .. .. .. .. International reserves (RES) .. .. 0.7 4.9 0.8 3.4 23.0 70.9 88.5 237.7 Current account balance .. .. -19.0 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 569.6 .. .. .. .. .. .. .. EDT / GNI (%) 7.5 .. 195.2 68.1 75.6 65.1 55.3 52.6 .. .. TDS / XGS (%) .. .. 12.1 .. .. .. .. .. .. .. INT / XGS (%) .. .. 2.2 .. .. .. .. .. .. .. INT / GNI (%) .. .. 0.8 0.4 0.6 0.4 0.3 0.2 .. .. RES / EDT (%) .. .. 0.3 1.7 0.3 1.2 9.3 29.7 34.0 74.4 RES / MGS (months) .. .. 0.1 .. .. .. .. .. .. .. Short-term / EDT (%) .. 9.3 10.8 21.7 25.7 20.4 17.8 18.7 19.2 28.6 Concessional / EDT (%) .. 41.7 49.0 49.0 47.1 52.5 55.3 55.3 55.0 48.2 Multilateral / EDT (%) .. 3.6 27.9 33.1 32.0 36.2 37.8 37.3 37.5 33.4 201 EQUATORIAL GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5.0 52.5 209.2 208.6 216.5 207.9 198.9 192.1 209.1 227.7 Public and publicly guaranteed 5.0 52.5 209.2 208.6 216.5 207.9 198.9 192.1 209.1 227.7 Official creditors 5.0 45.3 191.5 194.3 201.5 194.7 186.5 180.0 195.5 211.6 Multilateral 0.0 2.7 67.4 93.7 98.0 98.2 93.6 89.1 97.6 106.7 Concessional 0.0 2.0 51.6 83.7 87.6 89.4 85.8 81.8 89.7 98.1 Bilateral 5.0 42.6 124.1 100.5 103.6 96.5 92.9 90.9 97.9 104.9 Concessional 0.0 29.5 66.4 55.1 56.4 53.0 51.2 50.3 53.4 55.6 Private creditors 0.0 7.2 17.8 14.3 15.0 13.2 12.3 12.1 13.7 16.1 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 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 7.2 17.8 14.3 15.0 13.2 12.3 12.1 13.7 16.1 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 37.6 49.9 51.7 50.3 47.3 45.0 47.9 51.7 DISBURSEMENTS 0.0 19.6 9.9 2.6 1.1 3.8 1.7 0.3 2.0 1.1 Public and publicly guaranteed 0.0 19.6 9.9 2.6 1.1 3.8 1.7 0.3 2.0 1.1 Official creditors 0.0 14.8 9.9 2.6 1.1 3.8 1.7 0.3 2.0 1.1 Multilateral 0.0 1.7 3.7 2.6 1.1 3.8 1.7 0.3 2.0 1.1 Concessional 0.0 1.0 3.1 2.6 1.1 3.8 1.7 0.3 2.0 1.1 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 1.3 0.3 0.1 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS 0.0 1.7 0.6 1.1 0.8 1.0 1.4 1.0 1.3 3.8 Public and publicly guaranteed 0.0 1.7 0.6 1.1 0.8 1.0 1.4 1.0 1.3 3.8 Official creditors 0.0 1.4 0.6 1.1 0.8 1.0 1.4 1.0 1.3 3.8 Multilateral 0.0 0.0 0.5 1.1 0.8 1.0 1.0 1.0 1.3 2.0 Concessional 0.0 0.0 0.5 0.7 0.5 0.6 0.6 0.6 1.0 1.3 Bilateral 0.0 1.4 0.1 0.0 0.0 0.0 0.4 0.0 0.0 1.8 Concessional 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 1.8 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 0.4 0.4 0.4 0.4 0.5 0.5 0.7 NET FLOWS ON DEBT 0.0 17.8 9.4 1.4 0.3 2.8 0.3 -0.7 0.7 -2.7 Public and publicly guaranteed 0.0 17.8 9.4 1.4 0.3 2.8 0.3 -0.7 0.7 -2.7 Official creditors 0.0 13.4 9.4 1.4 0.3 2.8 0.3 -0.7 0.7 -2.7 Multilateral 0.0 1.7 3.2 1.4 0.3 2.8 0.7 -0.7 0.7 -0.9 Concessional 0.0 1.0 2.6 1.9 0.6 3.2 1.1 -0.3 1.0 -0.2 Bilateral 0.0 11.7 6.2 0.0 0.0 0.0 -0.4 0.0 0.0 -1.8 Concessional 0.0 3.3 6.3 0.0 0.0 0.0 -0.4 0.0 0.0 -1.8 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 -0.1 -0.3 -0.4 -0.5 -0.5 -0.7 202 EQUATORIAL GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.0 0.1 0.5 1.0 0.7 0.7 0.8 0.6 0.7 1.0 Public and publicly guaranteed 0.0 0.1 0.5 1.0 0.7 0.7 0.8 0.6 0.7 1.0 Official creditors 0.0 0.1 0.5 1.0 0.7 0.7 0.8 0.6 0.7 1.0 Multilateral 0.0 0.0 0.3 1.0 0.7 0.7 0.8 0.6 0.7 0.8 Concessional 0.0 0.0 0.3 0.7 0.5 0.6 0.6 0.5 0.6 0.7 Bilateral 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.2 Concessional 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.2 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 0.5 0.3 0.3 0.4 0.4 0.4 0.4 NET TRANSFERS ON DEBT 0.0 17.8 8.9 0.4 -0.4 2.1 -0.5 -1.3 0.0 -3.7 Public and publicly guaranteed 0.0 17.8 8.9 0.4 -0.4 2.1 -0.5 -1.3 0.0 -3.7 Official creditors 0.0 13.3 8.9 0.4 -0.4 2.1 -0.5 -1.3 0.0 -3.7 Multilateral 0.0 1.7 2.9 0.4 -0.4 2.1 -0.1 -1.3 0.0 -1.7 Concessional 0.0 1.0 2.3 1.2 0.1 2.6 0.5 -0.8 0.4 -0.9 Bilateral 0.0 11.6 6.0 0.0 0.0 0.0 -0.4 0.0 0.0 -2.0 Concessional 0.0 3.2 6.1 0.0 0.0 0.0 -0.4 0.0 0.0 -2.0 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 -0.7 -0.8 -0.8 -0.9 -1.1 DEBT SERVICE (LTDS) 0.0 1.8 1.1 2.1 1.5 1.7 2.2 1.6 2.0 4.8 Public and publicly guaranteed 0.0 1.8 1.1 2.1 1.5 1.7 2.2 1.6 2.0 4.8 Official creditors 0.0 1.5 1.1 2.1 1.5 1.7 2.2 1.6 2.0 4.8 Multilateral 0.0 0.0 0.8 2.1 1.5 1.7 1.8 1.6 2.0 2.8 Concessional 0.0 0.0 0.8 1.4 1.0 1.2 1.3 1.1 1.6 2.0 Bilateral 0.0 1.5 0.3 0.0 0.0 0.0 0.4 0.0 0.0 2.0 Concessional 0.0 0.1 0.1 0.0 0.0 0.0 0.4 0.0 0.0 2.0 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 0.9 0.7 0.7 0.8 0.8 0.9 1.1 UNDISBURSED DEBT 0.0 70.6 64.9 28.3 30.8 14.4 10.9 10.2 8.9 8.6 Official creditors 0.0 67.6 64.9 28.3 30.8 14.4 10.9 10.2 8.9 8.6 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 31.5 118.1 138.7 144.1 142.4 137.0 132.1 143.2 153.8 Variable rate LDOD 0.0 0.0 5.1 4.1 4.1 4.1 4.0 3.9 4.0 4.2 Public sector LDOD 5.0 46.9 209.2 208.6 216.5 207.9 198.9 192.1 209.1 227.7 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 31.2 Deutsche mark 0.0 0.0 5.9 5.0 5.1 4.6 4.4 .. .. .. French franc 0.0 0.0 7.0 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 43.3 42.5 43.6 43.9 44.2 42.0 40.1 Multiple currency 0.0 0.0 5.6 15.3 15.5 17.5 17.9 17.6 18.1 18.3 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 100.0 83.5 43.6 29.3 29.5 27.8 27.5 11.6 11.1 10.4 203 EQUATORIAL GUINEA (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 0.0 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 0.7 22.9 -35.0 -23.3 -8.9 21.5 58.9 Net flows on debt 0.0 40.9 9.7 19.0 12.4 -20.7 -12.3 -2.2 1.1 32.7 Net change in interest arrears .. .. 7.2 -2.2 2.4 -2.6 -1.2 -0.5 3.9 4.9 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 -14.9 5.0 -10.8 -7.9 -5.6 13.2 18.4 Residual .. .. -1.9 -1.1 3.2 -0.9 -1.9 -0.6 3.3 3.0 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 49.7 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 3.4 10.1 0.0 10.2 0.0 0.0 0.0 0.0 0.0 Grant element (%) 0.0 21.0 77.5 0.0 90.0 0.0 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 49.7 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.0 3.4 10.1 0.0 10.2 0.0 0.0 0.0 0.0 0.0 Grant element (%) 0.0 21.0 77.5 0.0 90.0 0.0 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 3 0 0 0 0 0 Official creditors 0 27 18 0 3 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 3.7 2.0 1.4 1.0 0.5 0.1 0.0 0.0 0.0 0.0 Principal 4.2 3.6 3.7 4.0 4.2 4.3 4.2 3.8 3.8 4.0 Interest 1.0 0.9 0.9 0.8 0.8 0.7 0.7 0.7 0.6 0.6 Official creditors Disbursements 3.7 2.0 1.4 1.0 0.5 0.1 0.0 0.0 0.0 0.0 Principal 4.2 3.6 3.7 4.0 4.2 4.3 4.2 3.8 3.8 4.0 Interest 1.0 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 1.6 0.9 0.8 0.8 0.7 0.7 0.7 0.6 0.6 0.6 Interest 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Multilateral creditors Disbursements 3.7 2.0 1.4 1.0 0.5 0.1 0.0 0.0 0.0 0.0 Principal 2.6 2.7 2.9 3.2 3.5 3.5 3.5 3.2 3.2 3.4 Interest 0.8 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 0.0 204 ERITREA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 75.5 151.3 252.7 311.1 413.9 520.3 634.6 Long-term debt (LDOD) .. .. .. 75.5 146.1 252.6 298.0 394.8 489.2 605.1 Public and publicly guaranteed .. .. .. 75.5 146.1 252.6 298.0 394.8 489.2 605.1 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 5.2 0.2 13.1 19.1 31.1 29.4 of which interest arrears on LDOD .. .. .. 0.0 0.0 0.0 2.0 0.9 0.9 2.4 Official creditors .. .. .. 0.0 0.0 0.0 2.0 0.9 0.9 2.4 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 4.9 3.2 7.0 13.8 Official creditors .. .. .. 0.0 0.0 0.0 4.9 3.2 7.0 13.8 Private creditors .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements .. .. .. 33.3 67.3 108.2 50.7 103.9 75.9 89.4 Long-term debt .. .. .. 33.3 67.3 108.2 50.7 103.9 75.9 89.4 IMF purchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. .. 0.0 0.0 0.0 0.5 0.7 2.6 5.8 Long-term debt .. .. .. 0.0 0.0 0.0 0.5 0.7 2.6 5.8 IMF repurchases .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. .. 33.3 67.3 103.2 61.2 110.3 85.4 80.4 of which short-term debt .. .. .. 0.0 0.0 -5.0 11.0 7.0 12.0 -3.2 Interest payments (INT) .. .. .. 0.5 3.7 3.3 2.8 6.1 6.7 6.0 Long-term debt .. .. .. 0.5 3.6 3.3 2.5 5.4 6.3 5.0 IMF charges .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. .. 0.0 0.1 0.0 0.3 0.7 0.4 0.9 Net transfers on debt .. .. .. 32.8 63.6 99.9 58.4 104.2 78.6 74.4 Total debt service paid (TDS) .. .. .. 0.5 3.7 3.3 3.3 6.8 9.4 11.8 Long-term debt .. .. .. 0.5 3.6 3.3 3.0 6.1 8.9 10.9 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 0.1 0.0 0.3 0.7 0.4 0.9 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 134.5 289.7 255.7 182.5 251.3 216.4 301.9 Net flow of long-term debt (ex. IMF) .. .. .. 33.3 67.3 108.2 50.2 103.3 73.3 83.6 Foreign direct investment (net) .. .. .. 41.1 148.5 83.2 27.9 0.7 21.0 22.0 Portfolio equity flows .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. .. 60.1 73.9 64.3 104.3 147.3 122.1 196.3 Memo: technical coop. grants .. .. .. 36.9 31.0 21.2 22.3 31.9 32.4 41.3 official net resource flows .. .. .. 93.4 141.2 172.5 154.6 250.6 195.4 279.9 private net resource flows .. .. .. 41.1 148.5 83.2 27.9 0.7 21.0 22.0 NET TRANSFERS .. .. .. 134.0 285.7 251.6 175.6 245.9 210.1 296.9 Interest on long-term debt .. .. .. 0.5 3.6 3.3 2.5 5.4 6.3 5.0 Profit remittances on FDI .. .. .. 0.0 0.4 0.8 4.4 0.0 0.0 0.0 Memo: official net transfers .. .. .. 92.9 137.6 169.2 152.1 245.2 189.1 274.9 private net transfers .. .. .. 41.1 148.1 82.4 23.5 0.7 21.0 22.0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 860.3 873.7 859.0 772.0 813.9 779.3 899.6 Exports of goods, serv. & inc. (XGS) .. .. .. .. 121.4 76.7 106.9 137.7 129.0 83.6 Worker remit. & comp. of employees .. .. .. 0.0 3.0 4.0 3.0 0.0 0.0 0.0 Imports of goods & services (MGS) .. .. .. .. 702.6 616.9 510.3 496.7 493.8 562.5 International reserves (RES) .. .. .. 229.6 68.2 58.9 36.1 50.4 30.3 24.7 Current account balance .. .. .. 5.1 -292.7 -208.8 -104.7 -36.2 -42.6 -128.4 4. DEBT INDICATORS EDT / XGS (%) .. .. .. .. 124.6 329.5 291.1 300.5 403.5 758.9 EDT / GNI (%) .. .. .. 8.8 17.3 29.4 40.3 50.9 66.8 70.5 TDS / XGS (%) .. .. .. .. 3.0 4.3 3.1 4.9 7.3 14.1 INT / XGS (%) .. .. .. .. 3.0 4.3 2.6 4.4 5.2 7.1 INT / GNI (%) .. .. .. 0.1 0.4 0.4 0.4 0.8 0.9 0.7 RES / EDT (%) .. .. .. 304.3 45.0 23.3 11.6 12.2 5.8 3.9 RES / MGS (months) .. .. .. .. 1.2 1.1 0.8 1.2 0.7 0.5 Short-term / EDT (%) .. .. .. 0.0 3.4 0.1 4.2 4.6 6.0 4.6 Concessional / EDT (%) .. .. .. 96.1 92.2 93.4 90.5 91.6 90.9 92.7 Multilateral / EDT (%) .. .. .. 55.5 50.3 46.6 48.8 56.9 60.1 65.1 205 ERITREA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 75.5 146.1 252.6 298.0 394.8 489.2 605.1 Public and publicly guaranteed .. .. .. 75.5 146.1 252.6 298.0 394.8 489.2 605.1 Official creditors .. .. .. 75.5 146.1 252.6 298.0 394.8 489.2 605.1 Multilateral .. .. .. 41.8 76.1 117.8 151.9 235.5 312.6 413.1 Concessional .. .. .. 38.9 71.5 110.9 144.9 229.4 305.9 405.7 Bilateral .. .. .. 33.6 70.0 134.8 146.1 159.4 176.6 192.0 Concessional .. .. .. 33.6 68.0 125.1 136.5 149.7 166.9 182.4 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 .. .. .. 28.8 36.9 55.8 84.5 158.3 218.6 301.4 DISBURSEMENTS .. .. .. 33.3 67.3 108.2 50.7 103.9 75.9 89.4 Public and publicly guaranteed .. .. .. 33.3 67.3 108.2 50.7 103.9 75.9 89.4 Official creditors .. .. .. 33.3 67.3 108.2 50.7 103.9 75.9 89.4 Multilateral .. .. .. 14.2 31.3 43.1 39.2 90.3 59.3 72.2 Concessional .. .. .. 12.9 29.9 40.0 38.1 90.3 59.3 72.2 Bilateral .. .. .. 19.1 36.0 65.1 11.5 13.7 16.7 17.2 Concessional .. .. .. 19.1 34.0 57.5 11.5 13.7 16.7 17.2 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 .. .. .. 3.8 6.3 19.5 31.6 78.2 46.2 58.7 PRINCIPAL REPAYMENTS .. .. .. 0.0 0.0 0.0 0.5 0.7 2.6 5.8 Public and publicly guaranteed .. .. .. 0.0 0.0 0.0 0.5 0.7 2.6 5.8 Official creditors .. .. .. 0.0 0.0 0.0 0.5 0.7 2.6 5.8 Multilateral .. .. .. 0.0 0.0 0.0 0.5 0.7 1.5 2.7 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.2 1.0 2.1 Bilateral .. .. .. 0.0 0.0 0.0 0.0 0.0 1.1 3.1 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 1.1 3.1 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 0.2 NET FLOWS ON DEBT .. .. .. 33.3 67.3 108.2 50.2 103.3 73.3 83.6 Public and publicly guaranteed .. .. .. 33.3 67.3 108.2 50.2 103.3 73.3 83.6 Official creditors .. .. .. 33.3 67.3 108.2 50.2 103.3 73.3 83.6 Multilateral .. .. .. 14.2 31.3 43.1 38.7 89.6 57.8 69.5 Concessional .. .. .. 12.9 29.9 40.0 38.1 90.1 58.3 70.1 Bilateral .. .. .. 19.1 36.0 65.1 11.5 13.7 15.6 14.1 Concessional .. .. .. 19.1 34.0 57.5 11.5 13.7 15.6 14.1 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 .. .. .. 3.8 6.3 19.5 31.6 78.2 46.2 58.5 206 ERITREA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 0.5 3.6 3.3 2.5 5.4 6.3 5.0 Public and publicly guaranteed .. .. .. 0.5 3.6 3.3 2.5 5.4 6.3 5.0 Official creditors .. .. .. 0.5 3.6 3.3 2.5 5.4 6.3 5.0 Multilateral .. .. .. 0.3 0.6 1.6 1.3 2.8 3.7 3.4 Concessional .. .. .. 0.2 0.5 1.5 1.2 2.7 3.6 3.2 Bilateral .. .. .. 0.2 3.0 1.7 1.2 2.5 2.6 1.7 Concessional .. .. .. 0.2 3.0 1.5 1.2 2.5 2.6 1.7 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 .. .. .. 0.2 0.2 0.3 0.4 0.8 1.3 1.8 NET TRANSFERS ON DEBT .. .. .. 32.8 63.7 105.0 47.8 97.9 67.0 78.5 Public and publicly guaranteed .. .. .. 32.8 63.7 105.0 47.8 97.9 67.0 78.5 Official creditors .. .. .. 32.8 63.7 105.0 47.8 97.9 67.0 78.5 Multilateral .. .. .. 13.9 30.7 41.5 37.4 86.7 54.0 66.1 Concessional .. .. .. 12.7 29.4 38.5 37.0 87.4 54.7 66.9 Bilateral .. .. .. 18.9 33.0 63.4 10.4 11.1 13.0 12.4 Concessional .. .. .. 18.9 31.0 56.0 10.4 11.1 13.0 12.4 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 .. .. .. 3.6 6.1 19.2 31.2 77.3 44.9 56.7 DEBT SERVICE (LTDS) .. .. .. 0.5 3.6 3.3 3.0 6.1 8.9 10.9 Public and publicly guaranteed .. .. .. 0.5 3.6 3.3 3.0 6.1 8.9 10.9 Official creditors .. .. .. 0.5 3.6 3.3 3.0 6.1 8.9 10.9 Multilateral .. .. .. 0.3 0.6 1.6 1.8 3.5 5.2 6.1 Concessional .. .. .. 0.2 0.5 1.5 1.2 2.9 4.6 5.3 Bilateral .. .. .. 0.2 3.0 1.7 1.2 2.5 3.7 4.8 Concessional .. .. .. 0.2 3.0 1.5 1.2 2.5 3.7 4.8 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 .. .. .. 0.2 0.2 0.3 0.4 0.8 1.3 2.0 UNDISBURSED DEBT .. .. .. 277.6 313.5 201.2 314.6 283.6 311.2 289.2 Official creditors .. .. .. 277.6 313.5 201.2 314.6 283.6 311.2 289.2 Private creditors .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. .. .. 72.5 139.5 236.0 281.4 379.1 472.8 588.0 Variable rate LDOD .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD .. .. .. 75.5 146.1 252.6 298.0 394.8 489.2 605.1 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 1.2 Deutsche mark .. .. .. 0.0 0.0 0.0 0.0 .. .. .. French franc .. .. .. 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 .. .. .. 48.9 45.7 52.2 57.0 65.4 66.4 69.5 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 1.6 1.4 0.8 0.9 1.6 1.8 1.7 All other currencies .. .. .. 49.5 52.9 47.0 42.1 31.5 30.4 27.5 207 ERITREA (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 0.0 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 .. .. .. 31.2 75.9 101.4 58.4 102.8 106.4 114.2 Net flows on debt .. .. .. 33.3 67.3 103.2 61.2 110.3 85.4 80.4 Net change in interest arrears .. .. .. 0.0 0.0 0.0 2.0 -1.1 0.0 1.5 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 .. .. .. -2.1 2.4 -1.5 -4.2 -5.6 17.3 30.2 Residual .. .. .. -0.1 1.0 -0.3 -0.6 -0.8 3.7 2.1 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 1.2 1.3 0.0 0.7 1.2 0.9 0.8 Maturity (years) .. .. .. 37.3 32.0 0.0 39.7 34.6 37.5 40.0 Grace period (years) .. .. .. 10.9 7.4 0.0 10.4 9.2 9.4 10.5 Grant element (%) .. .. .. 75.0 68.1 0.0 80.8 69.8 77.1 80.9 Official creditors Interest (%) .. .. .. 1.2 1.3 0.0 0.7 1.2 0.9 0.8 Maturity (years) .. .. .. 37.3 32.0 0.0 39.7 34.6 37.5 40.0 Grace period (years) .. .. .. 10.9 7.4 0.0 10.4 9.2 9.4 10.5 Grant element (%) .. .. .. 75.0 68.1 0.0 80.8 69.8 77.1 80.9 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 .. .. .. 160 97 0 174 83 85 45 Official creditors .. .. .. 160 97 0 174 83 85 45 Private creditors .. .. .. 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 66.4 61.6 46.5 33.5 25.6 16.0 10.5 7.2 3.2 2.0 Principal 16.3 17.2 17.9 19.4 20.5 20.9 22.7 26.0 26.7 26.8 Interest 7.2 7.5 7.6 7.5 7.3 7.1 6.9 6.6 6.2 5.8 Official creditors Disbursements 66.4 61.6 46.5 33.5 25.6 16.0 10.5 7.2 3.2 2.0 Principal 16.3 17.2 17.9 19.4 20.5 20.9 22.7 26.0 26.7 26.8 Interest 7.2 7.5 7.6 7.5 7.3 7.1 6.9 6.6 6.2 5.8 Bilateral creditors Disbursements 14.1 14.5 9.2 5.0 2.9 1.6 0.9 0.6 0.0 0.0 Principal 9.8 10.2 10.6 11.6 11.0 11.0 12.4 12.6 12.4 12.2 Interest 2.8 2.9 2.8 2.7 2.5 2.4 2.3 2.1 1.9 1.7 Multilateral creditors Disbursements 52.3 47.1 37.3 28.5 22.7 14.3 9.6 6.6 3.2 2.0 Principal 6.5 7.0 7.3 7.8 9.4 9.9 10.3 13.4 14.3 14.6 Interest 4.4 4.6 4.7 4.8 4.8 4.7 4.6 4.5 4.3 4.1 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 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 0.0 208 ESTONIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 2,264 2,583 2,491 2,569 2,852 4,741 6,972 Long-term debt (LDOD) .. .. .. 1,238 1,587 1,612 1,606 1,810 3,151 4,530 Public and publicly guaranteed .. .. .. 198 234 206 210 187 482 560 Private nonguaranteed .. .. .. 1,040 1,352 1,407 1,395 1,623 2,669 3,970 Use of IMF credit .. .. .. 54 30 25 19 13 0 0 Short-term debt .. .. .. 973 966 853 944 1,029 1,590 2,442 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 .. .. .. 86 58 52 34 31 31 48 TOTAL DEBT FLOWS Disbursements .. .. .. 955 439 474 324 284 1,811 2,116 Long-term debt .. .. .. 955 439 474 324 284 1,811 2,116 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 58 188 392 305 247 586 940 Long-term debt .. .. .. 38 163 388 300 242 572 940 IMF repurchases .. .. .. 19 25 4 5 5 14 0 Net flows on debt .. .. .. 750 244 -31 110 122 1,785 1,738 of which short-term debt .. .. .. -147 -6 -113 91 85 561 563 Interest payments (INT) .. .. .. 125 140 135 123 136 197 280 Long-term debt .. .. .. 72 89 88 77 93 157 205 IMF charges .. .. .. 3 2 1 1 1 0 0 Short-term debt .. .. .. 50 48 45 45 42 40 75 Net transfers on debt .. .. .. 625 105 -166 -13 -14 1,589 1,458 Total debt service paid (TDS) .. .. .. 183 328 526 428 383 783 1,220 Long-term debt .. .. .. 110 252 476 377 335 729 1,145 IMF repurchases and charges .. .. .. 23 28 5 6 6 14 0 Short-term debt (interest only) .. .. .. 50 48 45 45 42 40 75 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 1,358 946 675 433 662 1,625 2,247 Net flow of long-term debt (ex. IMF) .. .. .. 916 276 86 24 42 1,238 1,176 Foreign direct investment (net) .. .. .. 266 581 305 387 542 285 891 Portfolio equity flows .. .. .. 128 26 235 -29 32 53 108 Grants (excluding technical coop.) .. .. .. 47 64 49 50 45 49 73 Memo: technical coop. grants .. .. .. 20 19 12 12 10 9 12 official net resource flows .. .. .. 54 73 62 34 38 -8 77 private net resource flows .. .. .. 1,304 873 613 400 624 1,634 2,170 NET TRANSFERS .. .. .. 1,159 778 468 151 258 1,072 1,391 Interest on long-term debt .. .. .. 72 89 88 77 93 157 205 Profit remittances on FDI .. .. .. 127 80 119 205 311 397 651 Memo: official net transfers .. .. .. 45 64 53 25 30 -16 73 private net transfers .. .. .. 1,113 714 415 126 228 1,088 1,318 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 4,778 5,487 5,453 5,255 5,687 6,714 8,509 Exports of goods, serv. & inc. (XGS) .. .. .. 3,723 4,303 4,077 4,928 5,184 5,453 7,091 Worker remit. & comp. of employees .. .. .. 2 3 2 3 9 17 40 Imports of goods & services (MGS) .. .. .. 4,401 4,930 4,484 5,338 5,671 6,278 8,387 International reserves (RES) .. .. .. 760 813 856 923 822 1,003 1,377 Current account balance .. .. .. -562 -478 -295 -294 -339 -717 -1,199 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 60.8 60.0 61.1 52.1 55.0 86.9 98.3 EDT / GNI (%) .. .. .. 47.4 47.1 45.7 48.9 50.1 70.6 81.9 TDS / XGS (%) .. .. .. 4.9 7.6 12.9 8.7 7.4 14.4 17.2 INT / XGS (%) .. .. .. 3.4 3.2 3.3 2.5 2.6 3.6 3.9 INT / GNI (%) .. .. .. 2.6 2.5 2.5 2.3 2.4 2.9 3.3 RES / EDT (%) .. .. .. 33.6 31.5 34.4 35.9 28.8 21.2 19.7 RES / MGS (months) .. .. .. 2.1 2.0 2.3 2.1 1.7 1.9 2.0 Short-term / EDT (%) .. .. .. 43.0 37.4 34.2 36.8 36.1 33.5 35.0 Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. .. .. 5.4 5.3 5.4 4.1 3.2 1.4 1.2 209 ESTONIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 1,238 1,587 1,612 1,606 1,810 3,151 4,530 Public and publicly guaranteed .. .. .. 198 234 206 210 187 482 560 Official creditors .. .. .. 160 174 168 141 128 87 108 Multilateral .. .. .. 123 137 134 105 91 66 84 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 37 36 34 36 37 21 24 Concessional .. .. .. 32 30 28 26 23 0 0 Private creditors .. .. .. 38 61 37 69 59 395 452 Bonds .. .. .. 33 54 33 31 29 350 402 Commercial banks .. .. .. 0 0 0 36 28 45 50 Other private .. .. .. 4 7 4 2 1 0 0 Private nonguaranteed .. .. .. 1,040 1,352 1,407 1,395 1,623 2,669 3,970 Bonds .. .. .. 81 87 130 232 291 245 413 Commercial banks and other .. .. .. 959 1,266 1,277 1,164 1,332 2,424 3,557 Memo: IBRD .. .. .. 71 84 88 71 65 39 49 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 955 439 474 324 284 1,811 2,116 Public and publicly guaranteed .. .. .. 18 45 47 45 13 316 17 Official creditors .. .. .. 16 24 28 9 11 14 11 Multilateral .. .. .. 14 23 28 4 7 8 10 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2 1 0 4 4 6 1 Concessional .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 2 21 19 36 2 302 6 Bonds .. .. .. 0 17 19 0 0 283 0 Commercial banks .. .. .. 0 0 0 36 2 19 6 Other private .. .. .. 2 4 0 0 0 0 0 Private nonguaranteed .. .. .. 937 394 427 280 271 1,495 2,099 Bonds .. .. .. 81 0 58 139 62 0 339 Commercial banks and other .. .. .. 856 394 368 141 209 1,495 1,760 Memo: IBRD .. .. .. 11 13 19 4 6 5 6 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 38 163 388 300 242 572 940 Public and publicly guaranteed .. .. .. 22 16 49 27 28 81 34 Official creditors .. .. .. 9 15 14 25 19 71 7 Multilateral .. .. .. 9 13 12 22 16 47 6 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 2 2 3 3 25 1 Concessional .. .. .. 0 2 2 2 2 24 0 Private creditors .. .. .. 13 2 35 1 9 9 27 Bonds .. .. .. 0 0 33 0 0 0 17 Commercial banks .. .. .. 0 0 0 0 8 8 10 Other private .. .. .. 13 2 2 1 1 1 0 Private nonguaranteed .. .. .. 16 147 339 273 214 492 906 Bonds .. .. .. 0 0 0 28 0 65 249 Commercial banks and other .. .. .. 16 147 339 245 214 427 657 Memo: IBRD .. .. .. 0 3 3 14 9 40 4 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 916 276 86 24 42 1,238 1,176 Public and publicly guaranteed .. .. .. -4 28 -2 18 -15 235 -17 Official creditors .. .. .. 7 9 14 -17 -8 -58 4 Multilateral .. .. .. 5 10 16 -18 -9 -39 4 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2 -1 -2 2 1 -19 0 Concessional .. .. .. 0 -2 -2 -2 -2 -24 0 Private creditors .. .. .. -11 19 -16 35 -7 293 -21 Bonds .. .. .. 0 17 -14 0 0 283 -17 Commercial banks .. .. .. 0 0 0 36 -6 10 -4 Other private .. .. .. -11 2 -2 -1 -1 -1 0 Private nonguaranteed .. .. .. 920 248 88 6 57 1,003 1,193 Bonds .. .. .. 81 0 58 110 62 -65 90 Commercial banks and other .. .. .. 839 248 30 -104 -5 1,068 1,102 Memo: IBRD .. .. .. 11 10 16 -9 -3 -35 2 IDA .. .. .. 0 0 0 0 0 0 0 210 ESTONIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 72 89 88 77 93 157 205 Public and publicly guaranteed .. .. .. 12 12 12 11 11 16 26 Official creditors .. .. .. 9 9 10 8 8 7 4 Multilateral .. .. .. 8 8 8 7 6 6 3 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 1 1 2 1 1 2 1 Concessional .. .. .. 1 1 1 1 1 1 0 Private creditors .. .. .. 3 2 2 3 4 9 22 Bonds .. .. .. 2 2 2 2 2 8 20 Commercial banks .. .. .. 0 0 0 0 2 1 2 Other private .. .. .. 1 0 0 0 0 0 0 Private nonguaranteed .. .. .. 60 77 76 66 82 140 179 Bonds .. .. .. 0 6 5 9 17 15 19 Commercial banks and other .. .. .. 60 71 71 57 65 125 160 Memo: IBRD .. .. .. 4 5 5 5 4 4 2 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 845 187 -2 -53 -51 1,082 971 Public and publicly guaranteed .. .. .. -16 16 -14 7 -26 219 -43 Official creditors .. .. .. -2 0 4 -25 -15 -65 0 Multilateral .. .. .. -2 2 8 -25 -15 -44 1 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 -2 -4 0 -1 -20 -1 Concessional .. .. .. -1 -3 -3 -3 -3 -25 0 Private creditors .. .. .. -14 17 -18 32 -11 283 -43 Bonds .. .. .. -2 15 -15 -2 -2 276 -37 Commercial banks .. .. .. 0 0 0 36 -8 9 -5 Other private .. .. .. -12 2 -3 -2 -1 -1 0 Private nonguaranteed .. .. .. 860 171 12 -60 -25 863 1,014 Bonds .. .. .. 81 -6 53 101 45 -80 71 Commercial banks and other .. .. .. 780 177 -41 -161 -71 943 943 Memo: IBRD .. .. .. 7 6 11 -14 -7 -39 0 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 110 252 476 377 335 729 1,145 Public and publicly guaranteed .. .. .. 34 28 61 38 39 97 60 Official creditors .. .. .. 18 24 24 34 26 79 11 Multilateral .. .. .. 17 21 20 29 22 52 10 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 1 3 4 4 5 26 2 Concessional .. .. .. 1 3 3 3 3 25 0 Private creditors .. .. .. 16 4 37 4 13 18 49 Bonds .. .. .. 2 2 35 2 2 8 37 Commercial banks .. .. .. 0 0 0 0 9 10 11 Other private .. .. .. 14 2 3 2 1 1 0 Private nonguaranteed .. .. .. 76 224 414 339 296 632 1,085 Bonds .. .. .. 0 6 5 37 17 80 268 Commercial banks and other .. .. .. 76 218 410 302 279 552 817 Memo: IBRD .. .. .. 4 7 8 19 13 44 5 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 75 53 56 79 102 85 83 Official creditors .. .. .. 71 52 56 70 55 50 48 Private creditors .. .. .. 5 1 0 9 46 35 35 Memorandum items Concessional LDOD .. .. .. 32 30 28 26 23 0 0 Variable rate LDOD .. .. .. 1,161 1,500 1,563 1,564 1,771 2,802 4,107 Public sector LDOD .. .. .. 198 234 206 174 160 459 544 Private sector LDOD .. .. .. 1,040 1,352 1,407 1,432 1,650 2,692 3,986 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 80.8 96.7 95.8 Deutsche mark .. .. .. 64.2 67.5 55.9 60.1 .. .. .. French franc .. .. .. 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 .. .. .. 18.9 16.1 17.7 16.8 19.2 3.3 4.2 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 .. .. .. 16.9 16.5 26.4 23.1 0.0 0.0 0.0 211 ESTONIA (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 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 .. .. .. 731 319 -93 78 283 1,889 2,232 Net flows on debt .. .. .. 750 244 -31 110 122 1,785 1,738 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 .. .. .. -20 12 -26 -8 -7 29 94 Residual .. .. .. 1 62 -36 -23 168 74 110 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 3.1 6.4 6.8 5.3 4.8 5.7 0.0 Maturity (years) .. .. .. 5.1 5.2 11.1 10.7 15.3 6.3 0.0 Grace period (years) .. .. .. 0.6 5.0 5.2 2.9 4.8 6.3 0.0 Grant element (%) .. .. .. 15.6 13.5 16.7 17.2 30.3 19.3 0.0 Official creditors Interest (%) .. .. .. 0.0 8.5 6.5 6.5 0.0 0.0 0.0 Maturity (years) .. .. .. 0.0 14.9 13.7 16.4 0.0 0.0 0.0 Grace period (years) .. .. .. 0.0 5.4 5.3 5.7 0.0 0.0 0.0 Grant element (%) .. .. .. 0.0 8.1 19.6 21.2 0.0 0.0 0.0 Private creditors Interest (%) .. .. .. 3.1 6.4 7.4 4.3 4.8 5.7 0.0 Maturity (years) .. .. .. 5.1 5.1 5.0 6.0 15.3 6.3 0.0 Grace period (years) .. .. .. 0.6 5.0 5.0 0.6 4.8 6.3 0.0 Grant element (%) .. .. .. 15.6 13.6 10.0 13.9 30.3 19.3 0.0 Memorandum items Commitments .. .. .. 0 17 64 81 40 283 0 Official creditors .. .. .. 0 0 45 36 0 0 0 Private creditors .. .. .. 0 17 19 45 40 283 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 37 24 11 8 3 1 0 0 0 0 Principal 1,045 719 1,031 551 321 500 208 168 24 15 Interest 222 173 129 94 68 52 25 15 2 1 Official creditors Disbursements 17 14 8 5 3 1 0 0 0 0 Principal 11 12 14 19 19 18 14 11 11 10 Interest 4 4 3 3 3 2 2 1 1 1 Bilateral creditors Disbursements 7 4 1 1 0 0 0 0 0 0 Principal 1 1 1 5 5 5 4 4 4 4 Interest 1 1 1 1 1 0 0 0 0 0 Multilateral creditors Disbursements 9 11 6 4 3 1 0 0 0 0 Principal 10 12 13 14 14 14 9 7 7 6 Interest 3 3 2 3 2 2 1 1 1 1 Private creditors Disbursements 20 9 3 3 0 0 0 0 0 0 Principal 1,034 706 1,017 532 301 482 194 156 13 5 Interest 219 170 126 91 65 50 23 13 1 0 Commercial banks Disbursements 20 9 3 3 0 0 0 0 0 0 Principal 13 7 7 7 7 7 7 5 5 5 Interest 2 2 2 2 1 1 1 1 1 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,021 699 1,010 525 295 475 187 151 8 0 Interest 217 168 124 89 64 49 22 13 0 0 212 ETHIOPIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 169 824 8,630 10,077 10,347 5,544 5,483 5,727 6,515 7,151 Long-term debt (LDOD) 169 688 8,479 9,425 9,614 5,362 5,327 5,561 6,307 6,906 Public and publicly guaranteed 169 688 8,479 9,425 9,614 5,362 5,327 5,561 6,307 6,906 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 79 6 87 107 95 77 106 143 157 Short-term debt 0 57 145 566 626 87 79 60 64 87 of which interest arrears on LDOD 0 1 43 542 603 62 65 48 46 45 Official creditors 0 0 39 524 584 58 60 43 41 40 Private creditors 0 0 3 17 18 5 5 5 5 5 Memo: principal arrears on LDOD 0 1 236 4,758 5,195 638 651 597 585 584 Official creditors 0 0 197 4,536 4,967 585 612 555 554 553 Private creditors 0 1 40 223 227 54 39 41 31 32 Memo: export credits 0 0 311 248 277 280 255 233 277 291 TOTAL DEBT FLOWS Disbursements 28 119 374 179 162 231 185 576 672 252 Long-term debt 28 110 374 179 142 231 185 532 627 237 IMF purchases 0 9 0 0 20 0 0 44 44 15 Principal repayments 15 17 177 52 68 98 84 120 48 45 Long-term debt 15 17 152 52 64 88 71 108 37 37 IMF repurchases 0 0 25 0 4 10 13 12 11 8 Net flows on debt 13 94 203 130 93 134 90 454 629 230 of which short-term debt 0 -8 7 3 -1 2 -11 -2 6 24 Interest payments (INT) 6 27 59 47 50 57 53 63 37 45 Long-term debt 6 17 48 46 48 55 52 61 36 43 IMF charges 0 2 2 0 1 0 0 0 1 1 Short-term debt 0 9 8 1 1 2 1 1 1 1 Net transfers on debt 6 67 145 82 43 77 37 392 593 186 Total debt service paid (TDS) 21 45 236 99 119 155 137 182 85 90 Long-term debt 21 34 201 98 113 144 123 169 73 80 IMF repurchases and charges 0 2 27 0 4 10 13 12 12 9 Short-term debt (interest only) 0 9 8 1 1 2 1 1 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 23 218 838 773 768 569 674 856 1,171 1,396 Net flow of long-term debt (ex. IMF) 13 93 222 127 77 142 114 424 590 200 Foreign direct investment (net) 4 1 12 289 261 70 135 20 75 60 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 6 124 604 357 430 357 425 413 505 1,135 Memo: technical coop. grants 20 44 250 151 119 109 127 141 175 171 official net resource flows 26 191 882 462 506 511 547 847 1,100 1,341 private net resource flows -3 27 -45 311 263 58 127 10 71 54 NET TRANSFERS 16 202 789 720 714 512 613 783 1,124 1,336 Interest on long-term debt 6 17 48 46 48 55 52 61 36 43 Profit remittances on FDI 0 0 0 7 7 2 9 12 11 17 Memo: official net transfers 21 177 858 420 461 461 500 788 1,065 1,301 private net transfers -4 25 -69 300 253 51 113 -5 59 35 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 8,541 6,284 6,449 6,445 6,468 6,458 6,020 6,597 Exports of goods, serv. & inc. (XGS) .. 573 606 1,012 1,000 991 1,062 1,013 1,113 1,331 Worker remit. & comp. of employees 0 12 5 9 27 34 53 18 33 46 Imports of goods & services (MGS) .. 871 1,349 1,461 1,880 1,904 1,673 2,199 2,072 2,680 International reserves (RES) 72 262 55 588 598 547 363 490 966 956 Current account balance .. -226 -294 -40 -333 -465 10 -401 -170 -199 4. DEBT INDICATORS EDT / XGS (%) .. 143.8 1,424.6 995.3 1,034.5 559.2 516.5 565.2 585.4 537.4 EDT / GNI (%) .. .. 101.0 160.4 160.4 86.0 84.8 88.7 108.2 108.4 TDS / XGS (%) .. 7.8 39.0 9.8 11.8 15.7 12.9 18.0 7.6 6.8 INT / XGS (%) .. 4.8 9.7 4.7 5.0 5.8 5.0 6.2 3.3 3.4 INT / GNI (%) .. .. 0.7 0.8 0.8 0.9 0.8 1.0 0.6 0.7 RES / EDT (%) 42.4 31.8 0.6 5.8 5.8 9.9 6.6 8.6 14.8 13.4 RES / MGS (months) .. 3.6 0.5 4.8 3.8 3.4 2.6 2.7 5.6 4.3 Short-term / EDT (%) 0.2 6.9 1.7 5.6 6.1 1.6 1.4 1.0 1.0 1.2 Concessional / EDT (%) 54.7 68.3 87.3 85.7 85.1 86.5 87.7 88.3 89.2 88.2 Multilateral / EDT (%) 41.4 41.2 14.7 24.4 25.4 49.4 50.0 54.1 59.4 61.4 213 ETHIOPIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 169 688 8,479 9,425 9,614 5,362 5,327 5,561 6,307 6,906 Public and publicly guaranteed 169 688 8,479 9,425 9,614 5,362 5,327 5,561 6,307 6,906 Official creditors 140 638 7,906 9,078 9,270 5,239 5,214 5,466 6,213 6,834 Multilateral 70 340 1,268 2,458 2,627 2,738 2,741 3,099 3,868 4,392 Concessional 23 282 1,151 2,231 2,389 2,509 2,547 2,925 3,675 4,196 Bilateral 70 299 6,637 6,620 6,642 2,500 2,473 2,367 2,346 2,442 Concessional 70 281 6,382 6,401 6,421 2,289 2,265 2,131 2,137 2,111 Private creditors 29 49 573 347 344 123 113 96 94 72 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 10 116 25 20 16 12 7 3 1 Other private 29 39 457 322 324 107 101 89 91 72 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 1,532 1,632 1,739 1,779 2,150 2,756 3,179 DISBURSEMENTS 28 110 374 179 142 231 185 532 627 237 Public and publicly guaranteed 28 110 374 179 142 231 185 532 627 237 Official creditors 25 77 324 149 132 229 184 532 627 237 Multilateral 8 36 139 145 127 224 181 519 583 237 Concessional 3 34 128 92 110 200 176 509 560 232 Bilateral 17 41 185 4 5 6 3 13 44 0 Concessional 17 37 128 4 5 6 3 13 44 0 Private creditors 2 33 51 30 10 1 2 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 2 31 51 30 10 1 2 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 0 0 0 0 0 0 0 0 0 IDA 3 28 74 65 69 157 137 455 465 204 PRINCIPAL REPAYMENTS 15 17 152 52 64 88 71 108 37 37 Public and publicly guaranteed 15 17 152 52 64 88 71 108 37 37 Official creditors 6 11 45 44 57 75 62 98 33 31 Multilateral 3 4 16 42 45 56 55 65 19 21 Concessional 0 0 7 24 27 29 31 42 12 13 Bilateral 3 6 29 3 11 19 6 33 14 10 Concessional 3 6 13 2 11 18 6 33 13 10 Private creditors 9 7 107 8 8 13 10 10 4 6 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 3 45 2 5 4 4 5 4 2 Other private 9 4 62 6 3 9 6 5 0 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 3 4 7 0 0 0 0 0 0 0 IDA 0 0 4 15 18 20 21 22 5 9 NET FLOWS ON DEBT 13 93 222 127 77 142 114 424 590 200 Public and publicly guaranteed 13 93 222 127 77 142 114 424 590 200 Official creditors 20 67 278 104 75 154 122 434 595 206 Multilateral 5 32 123 104 82 167 125 454 565 216 Concessional 3 33 121 68 83 170 145 467 548 219 Bilateral 14 35 156 1 -6 -13 -3 -20 30 -10 Concessional 14 30 115 1 -6 -13 -3 -20 31 -10 Private creditors -7 26 -57 23 2 -12 -8 -10 -4 -6 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -1 -45 -2 -5 -4 -4 -5 -4 -2 Other private -7 27 -12 25 7 -8 -4 -5 0 -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 3 -4 -7 0 0 0 0 0 0 0 IDA 3 28 69 50 51 137 116 433 460 195 214 ETHIOPIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 6 17 48 46 48 55 52 61 36 43 Public and publicly guaranteed 6 17 48 46 48 55 52 61 36 43 Official creditors 5 14 24 42 45 50 48 58 35 41 Multilateral 3 8 13 33 33 35 33 27 27 31 Concessional 0 2 7 17 17 19 20 17 19 24 Bilateral 2 6 11 8 12 15 14 31 8 9 Concessional 2 5 9 4 8 11 11 30 7 8 Private creditors 1 2 24 4 3 5 4 3 1 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 11 2 1 1 1 1 1 1 Other private 1 1 13 3 2 4 3 2 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 3 7 2 0 0 0 0 0 0 0 IDA 0 2 6 11 11 12 13 14 12 17 NET TRANSFERS ON DEBT 6 76 173 81 29 87 63 362 555 157 Public and publicly guaranteed 6 76 173 81 29 87 63 362 555 157 Official creditors 15 52 254 63 31 104 75 376 560 165 Multilateral 3 23 110 70 49 132 92 427 538 185 Concessional 3 31 114 51 66 152 125 449 530 195 Bilateral 12 29 145 -7 -18 -28 -17 -51 22 -20 Concessional 12 25 106 -3 -14 -24 -14 -50 24 -18 Private creditors -8 24 -81 18 -1 -17 -12 -13 -5 -8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -2 -56 -4 -6 -5 -5 -6 -5 -3 Other private -8 26 -25 22 5 -12 -7 -7 0 -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 -10 -9 0 0 0 0 0 0 0 IDA 3 26 64 38 40 125 103 419 447 178 DEBT SERVICE (LTDS) 21 34 201 98 113 144 123 169 73 80 Public and publicly guaranteed 21 34 201 98 113 144 123 169 73 80 Official creditors 10 25 69 86 101 125 109 156 67 72 Multilateral 6 13 29 75 78 91 89 92 45 52 Concessional 0 2 14 41 44 48 51 60 30 38 Bilateral 5 12 40 11 23 34 21 64 22 20 Concessional 5 11 22 7 19 30 17 63 20 19 Private creditors 11 9 131 12 11 18 14 13 5 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 4 56 4 6 5 5 6 5 3 Other private 11 5 76 8 5 13 8 7 0 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 6 10 9 0 0 0 0 0 0 0 IDA 0 2 10 26 29 32 34 36 17 26 UNDISBURSED DEBT 108 436 2,002 860 1,760 1,439 1,663 1,474 1,444 1,459 Official creditors 105 383 1,565 846 1,756 1,436 1,663 1,473 1,443 1,458 Private creditors 4 54 436 15 4 3 1 1 1 1 Memorandum items Concessional LDOD 93 562 7,533 8,632 8,810 4,798 4,811 5,056 5,812 6,307 Variable rate LDOD 0 10 114 26 20 16 12 7 3 1 Public sector LDOD 161 685 8,477 9,425 9,614 5,362 5,327 5,561 6,307 6,906 Private sector LDOD 8 3 1 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 4.4 5.2 6.1 Deutsche mark 2.7 8.1 1.9 1.8 1.9 2.8 2.6 .. .. .. French franc 0.0 0.0 0.2 0.1 0.1 0.1 0.1 .. .. .. Japanese yen 0.0 2.5 0.5 0.1 0.2 0.3 0.3 0.2 0.2 0.2 Pound sterling 2.1 2.3 0.3 0.2 0.2 0.4 0.3 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 27.6 28.1 74.9 76.0 78.0 77.3 76.7 Multiple currency 28.0 14.7 4.4 8.8 9.2 16.1 15.1 13.6 12.4 11.8 Special drawing rights 0.0 0.0 0.2 0.2 0.2 0.4 0.4 0.5 0.5 0.6 All other currencies 25.1 7.8 68.2 61.1 60.2 5.0 5.1 2.9 4.1 4.1 215 ETHIOPIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 105 35 1,246 0 45 10 11 Debt stock rescheduled .. .. 0 0 3 747 0 0 0 0 Principal rescheduled .. .. 0 89 22 220 0 14 12 11 Official .. .. 0 73 14 216 0 12 12 11 Private .. .. 0 16 8 4 0 2 0 0 Interest rescheduled .. .. 0 16 6 100 0 0 0 0 Official .. .. 0 11 4 99 0 0 0 0 Private .. .. 0 5 2 1 0 0 0 0 Debt forgiven .. .. 66 19 6 4,321 0 25 72 101 Memo: interest forgiven .. .. 0 3 1 426 0 11 23 16 Debt stock reduction .. .. 0 0 0 0 0 0 54 159 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 789 -1 270 -4,803 -61 244 788 636 Net flows on debt 13 94 203 130 93 134 90 454 629 230 Net change in interest arrears .. .. 27 61 61 -540 3 -17 -2 -1 Interest capitalized .. .. 0 16 6 100 0 0 0 0 Debt forgiveness or reduction .. .. -66 -19 -6 -4,321 0 -25 -126 -259 Cross-currency valuation .. .. 585 -258 -56 -77 -105 -75 245 262 Residual .. .. 40 69 172 -99 -49 -93 41 404 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.4 3.6 6.6 2.4 0.6 0.0 0.8 0.9 1.0 0.8 Maturity (years) 33.0 19.2 21.7 33.5 40.6 17.7 38.8 43.0 39.6 45.1 Grace period (years) 6.9 3.8 3.5 7.4 10.1 8.7 10.1 11.4 9.9 10.4 Grant element (%) 44.5 39.5 23.7 60.7 81.3 70.4 79.5 80.2 77.0 82.1 Official creditors Interest (%) 4.2 2.4 1.9 1.2 0.6 0.0 0.8 0.9 1.0 0.8 Maturity (years) 37.8 24.1 32.7 39.6 40.6 17.7 38.8 43.0 39.6 45.1 Grace period (years) 8.0 4.6 8.0 8.9 10.1 8.7 10.1 11.4 9.9 10.4 Grant element (%) 49.6 50.8 59.0 73.6 81.3 70.4 79.5 80.2 77.0 82.1 Private creditors Interest (%) 5.0 6.3 9.8 6.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.5 8.3 14.1 11.1 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.7 2.1 0.4 1.6 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 18.1 14.3 -0.4 13.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 20 194 580 69 1,032 1 490 434 537 132 Official creditors 17 134 236 55 1,032 1 490 434 537 132 Private creditors 3 60 345 15 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 294 316 245 186 153 102 67 35 21 13 Principal 186 179 177 177 189 201 197 210 218 226 Interest 82 80 78 76 73 71 68 65 63 60 Official creditors Disbursements 293 315 245 186 153 102 67 35 21 13 Principal 176 169 166 174 188 201 197 210 218 226 Interest 80 79 77 75 73 71 68 65 63 60 Bilateral creditors Disbursements 10 1 0 0 0 0 0 0 0 0 Principal 78 70 68 70 68 71 67 68 69 66 Interest 35 34 33 31 30 29 28 26 25 24 Multilateral creditors Disbursements 283 315 245 186 153 102 67 35 21 13 Principal 97 99 98 105 120 130 130 142 149 160 Interest 45 45 45 44 43 42 40 39 37 36 Private creditors Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 11 11 11 3 1 0 0 0 0 0 Interest 2 2 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 1 0 0 0 0 0 0 0 0 0 Principal 11 11 11 3 1 0 0 0 0 0 Interest 2 2 1 0 0 0 0 0 0 0 216 FIJI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 11.7 281.2 403.0 215.0 189.5 233.4 207.1 187.1 208.4 263.6 Long-term debt (LDOD) 11.7 244.9 391.0 167.0 168.8 216.0 191.4 171.3 171.7 177.5 Public and publicly guaranteed 11.7 180.0 296.3 125.8 136.6 191.4 172.4 158.3 164.2 171.1 Private nonguaranteed 0.0 64.9 94.7 41.2 32.2 24.7 19.1 13.0 7.5 6.4 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 48.0 20.7 17.4 15.6 15.9 36.7 86.1 of which interest arrears on LDOD 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 Official creditors 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.1 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 TOTAL DEBT FLOWS Disbursements 2.3 78.3 29.3 9.1 6.5 76.0 7.1 4.4 13.6 15.9 Long-term debt 2.3 78.3 29.3 9.1 6.5 76.0 7.1 4.4 13.6 15.9 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 22.5 23.2 28.3 22.5 17.1 20.8 19.1 Long-term debt 1.6 11.2 72.1 22.5 23.2 28.3 22.5 17.1 20.8 19.1 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 -45.7 16.3 -44.1 44.4 -17.1 -12.4 13.5 46.3 of which short-term debt 0.0 13.0 -2.0 29.6 -27.4 -3.3 -1.7 0.3 20.7 49.6 Interest payments (INT) 1.1 16.2 32.6 12.2 10.3 9.5 9.4 7.9 7.6 8.6 Long-term debt 1.1 9.5 31.1 10.2 8.6 8.5 8.5 7.4 7.2 6.5 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 2.0 1.7 1.0 0.8 0.6 0.5 2.1 Net transfers on debt -0.4 55.4 -78.3 4.1 -54.4 35.0 -26.5 -20.4 5.9 37.7 Total debt service paid (TDS) 2.7 35.8 105.6 34.7 33.5 37.8 31.9 25.1 28.4 27.7 Long-term debt 2.7 20.7 103.2 32.7 31.8 36.8 31.0 24.5 27.9 25.6 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 2.0 1.7 1.0 0.8 0.6 0.5 2.1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 11.3 118.7 63.3 16.7 104.0 29.1 -21.7 34.1 24.3 33.6 Net flow of long-term debt (ex. IMF) 0.7 67.1 -42.9 -13.3 -16.7 47.7 -15.4 -12.7 -7.2 -3.2 Foreign direct investment (net) 6.4 36.3 91.9 15.6 107.0 -33.2 -15.7 41.7 25.5 20.0 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.) 4.2 15.3 14.3 14.4 13.7 14.6 9.3 5.1 6.0 16.8 Memo: technical coop. grants 3.0 16.9 36.2 33.1 25.7 28.1 21.9 22.4 22.8 27.4 official net resource flows 5.8 54.5 -12.9 12.5 6.0 69.8 -0.4 -1.5 4.3 14.7 private net resource flows 5.5 64.2 76.1 4.1 98.0 -40.7 -21.3 35.6 20.0 18.9 NET TRANSFERS 10.2 78.7 -17.2 -84.5 -7.6 -51.3 -30.3 26.7 17.1 27.1 Interest on long-term debt 1.1 9.5 31.1 10.2 8.6 8.5 8.5 7.4 7.2 6.5 Profit remittances on FDI 0.0 30.4 49.4 90.9 103.0 71.9 0.0 0.0 0.0 0.0 Memo: official net transfers 5.1 48.4 -33.9 5.3 -0.5 62.8 -8.2 -8.2 -2.4 8.9 private net transfers 5.0 30.3 16.7 -89.8 -7.0 -114.1 -22.1 34.9 19.5 18.2 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 198.9 1,167.8 1,310.1 1,962.6 1,820.4 1,845.1 1,668.5 1,634.3 1,670.5 1,955.4 Exports of goods, serv. & inc. (XGS) .. 597.1 881.6 1,265.3 986.7 1,110.1 .. .. .. .. Worker remit. & comp. of employees 0.0 5.0 22.0 35.0 26.0 24.0 24.0 24.0 24.0 24.0 Imports of goods & services (MGS) .. 656.6 974.3 1,323.7 1,077.2 1,125.9 .. .. .. .. International reserves (RES) 27.4 174.1 261.1 360.5 385.9 428.9 412.0 366.6 359.1 424.0 Current account balance .. -17.5 -94.0 -34.1 -59.9 12.7 .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 47.1 45.7 17.0 19.2 21.0 .. .. .. .. EDT / GNI (%) 5.9 24.1 30.8 11.0 10.4 12.7 12.4 11.5 12.5 13.5 TDS / XGS (%) .. 6.0 12.0 2.7 3.4 3.4 .. .. .. .. INT / XGS (%) .. 2.7 3.7 1.0 1.0 0.9 .. .. .. .. INT / GNI (%) 0.6 1.4 2.5 0.6 0.6 0.5 0.6 0.5 0.5 0.4 RES / EDT (%) 234.4 61.9 64.8 167.7 203.7 183.8 199.0 195.9 172.3 160.8 RES / MGS (months) .. 3.2 3.2 3.3 4.3 4.6 .. .. .. .. Short-term / EDT (%) 0.0 12.9 3.0 22.3 10.9 7.4 7.5 8.5 17.6 32.7 Concessional / EDT (%) 14.6 9.2 7.4 8.1 13.0 8.7 9.1 9.3 12.2 12.4 Multilateral / EDT (%) 0.0 23.2 50.1 54.4 64.4 77.0 78.1 79.4 70.7 55.3 217 FIJI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 11.7 244.9 391.0 167.0 168.8 216.0 191.4 171.3 171.7 177.5 Public and publicly guaranteed 11.7 180.0 296.3 125.8 136.6 191.4 172.4 158.3 164.2 171.1 Official creditors 8.2 123.7 269.5 125.7 136.6 191.3 172.3 158.3 164.2 171.1 Multilateral 0.0 65.1 202.0 117.0 122.1 179.7 161.7 148.6 147.3 145.7 Concessional 0.0 4.4 14.7 11.2 11.7 9.4 8.2 7.7 8.6 7.3 Bilateral 8.2 58.6 67.4 8.8 14.5 11.6 10.7 9.6 16.9 25.3 Concessional 1.7 21.5 15.2 6.3 12.9 10.9 10.7 9.6 16.9 25.3 Private creditors 3.5 56.3 26.9 0.1 0.1 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private 0.0 12.8 14.7 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Private nonguaranteed 0.0 64.9 94.7 41.2 32.2 24.7 19.1 13.0 7.5 6.4 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 41.2 32.2 24.7 19.1 13.0 7.5 6.4 Memo: IBRD 0.0 33.5 67.8 30.3 31.8 28.1 19.7 14.8 12.0 11.1 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 29.3 9.1 6.5 76.0 7.1 4.4 13.6 15.9 Public and publicly guaranteed 2.3 78.3 15.1 9.1 6.5 76.0 7.1 4.4 13.6 15.9 Official creditors 2.3 43.4 14.3 9.1 6.5 76.0 7.1 4.4 13.6 15.9 Multilateral 0.0 23.2 13.2 9.1 6.5 76.0 5.6 4.4 5.5 8.8 Concessional 0.0 2.3 0.0 2.1 0.0 0.0 0.0 0.0 0.0 0.0 Bilateral 2.3 20.2 1.1 0.0 0.0 0.0 1.5 0.0 8.1 7.1 Concessional 2.3 0.0 1.0 0.0 0.0 0.0 1.5 0.0 8.1 7.1 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 4.3 4.3 1.5 1.0 0.0 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 22.5 23.2 28.3 22.5 17.1 20.8 19.1 Public and publicly guaranteed 1.6 11.2 54.6 11.2 14.2 20.8 16.9 11.0 15.3 18.0 Official creditors 0.7 4.2 41.5 11.0 14.2 20.8 16.9 11.0 15.3 18.0 Multilateral 0.0 1.0 33.8 9.3 11.6 18.5 14.8 10.3 13.6 17.2 Concessional 0.0 0.0 0.3 0.3 0.4 0.7 0.5 0.3 0.3 2.1 Bilateral 0.7 3.2 7.7 1.6 2.6 2.3 2.1 0.7 1.7 0.8 Concessional 0.6 1.4 0.8 1.0 1.8 1.5 1.4 0.7 1.7 0.8 Private creditors 0.9 7.0 13.2 0.2 0.0 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 0.0 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 11.3 9.0 7.5 5.6 6.1 5.5 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 and other 0.0 0.0 17.5 11.3 9.0 7.5 5.6 6.1 5.5 1.1 Memo: IBRD 0.0 0.7 9.1 3.9 4.8 4.8 7.7 3.8 3.8 2.1 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 0.7 67.1 -42.9 -13.3 -16.7 47.7 -15.4 -12.7 -7.2 -3.2 Public and publicly guaranteed 0.7 67.1 -39.6 -2.0 -7.7 55.2 -9.8 -6.6 -1.7 -2.1 Official creditors 1.6 39.2 -27.1 -1.9 -7.7 55.3 -9.8 -6.6 -1.7 -2.1 Multilateral 0.0 22.2 -20.5 -0.2 -5.1 57.5 -9.2 -5.9 -8.1 -8.4 Concessional 0.0 2.3 -0.3 1.9 -0.4 -0.7 -0.5 -0.3 -0.3 -2.1 Bilateral 1.6 17.0 -6.6 -1.6 -2.6 -2.3 -0.6 -0.7 6.4 6.3 Concessional 1.7 -1.4 0.1 -1.0 -1.8 -1.5 0.1 -0.7 6.4 6.3 Private creditors -0.9 27.9 -12.5 -0.2 0.0 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 0.0 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 -11.3 -9.0 -7.5 -5.6 -6.1 -5.5 -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 and other 0.0 0.0 -3.3 -11.3 -9.0 -7.5 -5.6 -6.1 -5.5 -1.1 Memo: IBRD 0.0 5.0 -4.0 0.4 -0.5 -3.3 -6.8 -3.8 -3.8 -2.1 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 218 FIJI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 1.1 9.5 31.1 10.2 8.6 8.5 8.5 7.4 7.2 6.5 Public and publicly guaranteed 1.1 9.5 23.7 7.3 6.6 7.0 7.7 6.7 6.7 5.8 Official creditors 0.6 6.1 21.1 7.2 6.6 7.0 7.7 6.7 6.7 5.8 Multilateral 0.0 3.4 15.0 6.7 6.0 6.5 7.4 6.5 6.2 5.4 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 6.0 0.5 0.6 0.5 0.3 0.2 0.5 0.4 Concessional 0.1 0.8 0.3 0.2 0.4 0.3 0.3 0.2 0.5 0.4 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 2.9 2.0 1.5 0.8 0.7 0.5 0.7 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 2.9 2.0 1.5 0.8 0.7 0.5 0.7 Memo: IBRD 0.0 2.7 5.6 2.1 1.9 1.8 1.4 0.9 0.7 0.6 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 -73.9 -23.6 -25.3 39.3 -23.9 -20.1 -14.4 -9.7 Public and publicly guaranteed -0.4 57.6 -63.2 -9.3 -14.3 48.2 -17.5 -13.3 -8.4 -8.0 Official creditors 0.9 33.1 -48.2 -9.1 -14.3 48.3 -17.5 -13.3 -8.4 -8.0 Multilateral 0.0 18.9 -35.5 -7.0 -11.1 51.0 -16.6 -12.4 -14.3 -13.8 Concessional 0.0 2.3 -0.4 1.8 -0.5 -0.8 -0.6 -0.4 -0.3 -2.2 Bilateral 0.9 14.3 -12.6 -2.1 -3.2 -2.7 -0.9 -0.9 6.0 5.9 Concessional 1.6 -2.2 -0.2 -1.2 -2.1 -1.8 -0.2 -0.9 6.0 5.9 Private creditors -1.4 24.4 -15.1 -0.2 0.0 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 0.0 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 -14.3 -11.0 -9.0 -6.4 -6.8 -6.0 -1.8 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 -14.3 -11.0 -9.0 -6.4 -6.8 -6.0 -1.8 Memo: IBRD 0.0 2.3 -9.6 -1.7 -2.4 -5.1 -8.1 -4.7 -4.6 -2.7 IDA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DEBT SERVICE (LTDS) 2.7 20.7 103.2 32.7 31.8 36.8 31.0 24.5 27.9 25.6 Public and publicly guaranteed 2.7 20.7 78.3 18.4 20.8 27.8 24.6 17.7 21.9 23.9 Official creditors 1.4 10.3 62.5 18.2 20.8 27.8 24.6 17.7 21.9 23.9 Multilateral 0.0 4.4 48.8 16.1 17.6 25.0 22.2 16.8 19.8 22.7 Concessional 0.0 0.0 0.4 0.4 0.5 0.8 0.6 0.4 0.3 2.2 Bilateral 1.4 5.9 13.7 2.1 3.2 2.7 2.4 0.9 2.1 1.2 Concessional 0.7 2.2 1.2 1.2 2.1 1.8 1.7 0.9 2.1 1.2 Private creditors 1.4 10.4 15.8 0.2 0.0 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 0.0 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 14.3 11.0 9.0 6.4 6.8 6.0 1.8 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 14.3 11.0 9.0 6.4 6.8 6.0 1.8 Memo: IBRD 0.0 3.3 14.7 6.0 6.7 6.7 9.1 4.7 4.6 2.7 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 60.1 74.3 62.9 53.2 46.4 51.9 36.6 Official creditors 1.2 120.8 80.6 60.1 74.3 62.9 53.2 46.4 51.9 36.6 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 17.5 24.5 20.2 18.8 17.3 25.4 32.6 Variable rate LDOD 0.0 105.9 124.0 84.6 79.6 71.2 59.7 50.8 48.1 55.6 Public sector LDOD 11.7 180.0 296.3 125.8 136.6 191.4 172.4 158.3 164.2 171.1 Private sector LDOD 0.0 64.9 94.7 41.2 32.2 24.7 19.1 13.0 7.5 6.4 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.7 2.3 2.6 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc 0.0 0.0 1.5 2.0 2.1 1.2 1.1 .. .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.8 0.8 6.0 10.9 Pound sterling 34.2 24.7 13.7 2.6 1.6 0.6 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 14.6 26.1 5.4 0.6 5.4 42.1 49.1 56.0 54.0 52.1 Multiple currency 0.0 36.2 60.8 87.7 85.1 53.4 47.0 40.2 37.4 34.3 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 51.2 13.1 18.6 7.2 5.9 2.8 2.0 0.3 0.2 0.1 219 FIJI (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 0.0 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 .. .. -6.9 1.9 -25.5 43.9 -26.3 -19.9 21.2 55.2 Net flows on debt 0.7 71.6 -45.7 16.3 -44.1 44.4 -17.1 -12.4 13.5 46.3 Net change in interest arrears .. .. 0.0 0.0 0.0 0.0 0.0 0.0 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 .. .. 24.5 -10.2 9.0 2.9 -7.9 -6.9 6.2 6.5 Residual .. .. 14.2 -4.2 9.5 -3.4 -1.4 -0.6 1.5 2.5 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.1 8.1 6.6 6.5 2.5 3.0 0.0 0.0 2.5 0.0 Maturity (years) 17.7 14.4 24.7 25.4 24.3 12.3 0.0 0.0 24.4 0.0 Grace period (years) 5.2 3.7 5.1 5.4 7.0 3.3 0.0 0.0 3.9 0.0 Grant element (%) 43.6 9.5 22.9 24.6 55.6 35.3 0.0 0.0 51.9 0.0 Official creditors Interest (%) 3.0 7.9 6.6 6.5 2.5 3.0 0.0 0.0 2.5 0.0 Maturity (years) 18.5 14.7 24.8 25.4 24.3 12.3 0.0 0.0 24.4 0.0 Grace period (years) 5.5 3.7 5.1 5.4 7.0 3.3 0.0 0.0 3.9 0.0 Grant element (%) 45.6 10.6 23.0 24.6 55.6 35.3 0.0 0.0 51.9 0.0 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 42 18 73 0 0 17 0 Official creditors 4 83 30 42 18 73 0 0 17 0 Private creditors 0 6 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 13.3 11.0 7.4 3.0 2.0 0.0 0.0 0.0 0.0 0.0 Principal 16.8 18.1 18.9 18.6 18.1 18.3 16.8 17.5 8.5 6.6 Interest 7.2 6.9 6.6 6.0 5.3 4.5 3.8 3.2 2.6 2.3 Official creditors Disbursements 13.3 11.0 7.4 3.0 2.0 0.0 0.0 0.0 0.0 0.0 Principal 15.2 16.6 18.0 17.9 17.6 17.8 16.8 17.2 8.2 6.6 Interest 6.9 6.6 6.5 5.8 5.2 4.5 3.8 3.2 2.6 2.3 Bilateral creditors Disbursements 1.8 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.9 1.9 1.9 1.9 1.9 1.9 1.9 1.9 1.6 1.3 Interest 0.8 0.8 0.7 0.6 0.6 0.5 0.5 0.4 0.3 0.3 Multilateral creditors Disbursements 11.4 10.0 7.4 3.0 2.0 0.0 0.0 0.0 0.0 0.0 Principal 14.3 14.7 16.2 16.0 15.7 15.9 14.9 15.3 6.6 5.3 Interest 6.1 5.9 5.8 5.2 4.6 4.0 3.3 2.8 2.3 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 1.7 1.5 0.9 0.7 0.5 0.4 0.0 0.4 0.4 0.0 Interest 0.3 0.2 0.2 0.1 0.1 0.1 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 1.7 1.5 0.9 0.7 0.5 0.4 0.0 0.4 0.4 0.0 Interest 0.3 0.2 0.2 0.1 0.1 0.1 0.0 0.0 0.0 0.0 220 GABON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 104 1,514 3,983 4,278 4,427 3,982 3,920 3,423 3,546 3,792 Long-term debt (LDOD) 91 1,271 3,150 3,665 3,835 3,293 3,453 3,041 3,241 3,395 Public and publicly guaranteed 91 1,271 3,150 3,665 3,835 3,293 3,453 3,041 3,241 3,395 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 15 140 131 113 86 89 75 67 59 Short-term debt 13 228 693 482 478 603 377 307 238 339 of which interest arrears on LDOD 0 0 130 0 79 94 63 6 16 268 Official creditors 0 0 111 0 77 92 59 4 12 262 Private creditors 0 0 19 0 2 2 5 2 4 6 Memo: principal arrears on LDOD 0 0 82 0 85 118 124 26 52 425 Official creditors 0 0 17 0 83 116 116 25 45 338 Private creditors 0 0 65 0 1 3 8 1 7 87 Memo: export credits 0 0 1,917 2,539 1,378 1,257 1,134 964 1,222 1,342 TOTAL DEBT FLOWS Disbursements 26 170 204 168 48 59 49 18 71 29 Long-term debt 26 170 195 145 48 59 32 18 71 29 IMF purchases 0 0 9 23 0 0 17 0 0 0 Principal repayments 9 279 40 172 135 280 196 273 238 241 Long-term debt 9 279 26 168 112 256 187 262 225 226 IMF repurchases 0 0 15 4 23 25 10 11 13 14 Net flows on debt 17 -122 164 259 -169 -112 -341 -269 -245 -362 of which short-term debt 0 -13 0 263 -83 109 -194 -13 -79 -151 Interest payments (INT) 3 153 136 261 172 257 156 181 170 134 Long-term debt 3 119 78 238 142 230 124 166 158 129 IMF charges 0 1 13 6 6 4 4 4 2 1 Short-term debt 0 33 45 18 25 23 28 12 10 4 Net transfers on debt 14 -275 28 -2 -342 -369 -497 -450 -415 -496 Total debt service paid (TDS) 12 432 176 433 307 537 352 455 407 375 Long-term debt 12 398 104 406 254 486 311 428 382 355 IMF repurchases and charges 0 1 27 9 29 29 14 15 15 15 Short-term debt (interest only) 0 33 45 18 25 23 28 12 10 4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 26 -73 273 -276 134 -315 -158 -39 26 -59 Net flow of long-term debt (ex. IMF) 17 -109 170 -23 -64 -196 -155 -244 -153 -197 Foreign direct investment (net) -1 32 74 -311 147 -157 -43 169 123 53 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 10 4 30 58 52 38 39 36 56 85 Memo: technical coop. grants 7 38 36 36 35 35 26 27 29 42 official net resource flows 17 20 170 40 -6 -167 -109 -181 -114 -39 private net resource flows 9 -93 103 -316 140 -148 -49 142 139 -20 NET TRANSFERS 23 -465 79 -844 -184 -772 -932 -522 -606 -823 Interest on long-term debt 3 119 78 238 142 230 124 166 158 129 Profit remittances on FDI 0 273 116 330 177 227 649 317 474 636 Memo: official net transfers 15 1 103 -188 -139 -388 -227 -337 -265 -150 private net transfers 8 -466 -24 -657 -45 -383 -705 -185 -340 -673 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 306 3,856 5,336 4,754 4,067 3,812 4,240 3,753 4,167 5,205 Exports of goods, serv. & inc. (XGS) .. 2,434 2,750 3,308 2,188 2,866 .. .. .. .. Worker remit. & comp. of employees 0 0 0 6 6 4 4 4 4 4 Imports of goods & services (MGS) .. 1,926 2,448 2,739 2,727 2,431 .. .. .. .. International reserves (RES) 15 115 279 286 19 22 194 13 144 202 Current account balance .. 384 168 531 -596 390 .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 62.2 144.8 129.3 202.3 138.9 .. .. .. .. EDT / GNI (%) 34.0 39.3 74.6 90.0 108.8 104.5 92.5 91.2 85.1 72.8 TDS / XGS (%) .. 17.7 6.4 13.1 14.0 18.7 .. .. .. .. INT / XGS (%) .. 6.3 4.9 7.9 7.9 9.0 .. .. .. .. INT / GNI (%) 0.8 4.0 2.5 5.5 4.2 6.7 3.7 4.8 4.1 2.6 RES / EDT (%) 14.2 7.6 7.0 6.7 0.4 0.5 4.9 0.4 4.1 5.3 RES / MGS (months) .. 0.7 1.4 1.3 0.1 0.1 .. .. .. .. Short-term / EDT (%) 12.5 15.1 17.4 11.3 10.8 15.1 9.6 9.0 6.7 8.9 Concessional / EDT (%) 34.9 7.5 10.6 21.0 21.6 20.8 35.0 37.6 37.2 25.7 Multilateral / EDT (%) 30.0 2.7 8.0 12.3 12.5 13.2 11.8 11.2 11.3 10.6 221 GABON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 91 1,271 3,150 3,665 3,835 3,293 3,453 3,041 3,241 3,395 Public and publicly guaranteed 91 1,271 3,150 3,665 3,835 3,293 3,453 3,041 3,241 3,395 Official creditors 67 316 2,435 3,534 3,710 3,164 3,335 2,952 3,086 3,136 Multilateral 31 40 317 528 554 525 464 384 401 403 Concessional 1 10 29 30 32 28 27 27 30 39 Bilateral 36 276 2,118 3,006 3,156 2,639 2,871 2,568 2,685 2,734 Concessional 35 103 393 868 923 800 1,344 1,261 1,291 935 Private creditors 24 955 715 130 125 129 119 90 155 258 Bonds 8 2 0 0 0 0 0 0 0 0 Commercial banks 0 721 181 97 85 91 83 66 89 78 Other private 16 232 535 33 40 38 36 24 66 180 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 77 75 68 64 55 50 49 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 26 170 195 145 48 59 32 18 71 29 Public and publicly guaranteed 26 170 195 145 48 59 32 18 71 29 Official creditors 13 36 158 125 38 26 11 5 30 29 Multilateral 3 2 84 34 22 4 9 5 16 18 Concessional 1 0 4 6 2 0 1 1 0 0 Bilateral 9 33 74 91 16 22 2 0 14 12 Concessional 9 16 63 90 14 21 2 0 14 12 Private creditors 13 135 37 20 10 33 21 13 41 0 Bonds 4 0 0 0 0 0 0 0 0 0 Commercial banks 0 95 0 0 2 31 21 13 1 0 Other private 9 40 37 20 8 2 0 0 40 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 0 10 3 6 4 9 4 2 2 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 9 279 26 168 112 256 187 262 225 226 Public and publicly guaranteed 9 279 26 168 112 256 187 262 225 226 Official creditors 5 19 18 143 95 232 159 222 200 154 Multilateral 3 2 13 42 23 30 43 45 26 69 Concessional 0 0 1 3 1 2 0 0 0 8 Bilateral 2 17 5 101 72 202 116 177 174 85 Concessional 2 4 0 36 27 43 16 80 66 63 Private creditors 4 260 8 25 17 24 27 40 25 73 Bonds 0 1 0 0 0 0 0 0 0 0 Commercial banks 0 185 3 19 15 23 27 28 11 18 Other private 3 74 5 5 2 1 0 12 13 54 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 10 9 10 13 13 8 6 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 17 -109 170 -23 -64 -196 -155 -244 -153 -197 Public and publicly guaranteed 17 -109 170 -23 -64 -196 -155 -244 -153 -197 Official creditors 7 16 141 -18 -57 -205 -148 -217 -170 -124 Multilateral 0 0 71 -8 -1 -25 -33 -40 -10 -51 Concessional 1 0 3 3 1 -2 1 1 0 -8 Bilateral 7 17 70 -10 -56 -180 -115 -177 -160 -73 Concessional 7 13 63 54 -13 -23 -14 -80 -52 -52 Private creditors 9 -125 29 -5 -7 9 -7 -27 16 -73 Bonds 4 -1 0 0 0 0 0 0 0 0 Commercial banks 0 -90 -3 -19 -13 8 -7 -16 -10 -18 Other private 6 -34 32 15 6 1 0 -12 26 -54 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 -7 -3 -6 -4 -9 -6 -3 IDA 0 0 0 0 0 0 0 0 0 0 222 GABON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 3 119 78 238 142 230 124 166 158 129 Public and publicly guaranteed 3 119 78 238 142 230 124 166 158 129 Official creditors 2 19 68 228 134 221 118 156 152 111 Multilateral 1 2 21 44 21 29 42 27 18 40 Concessional 0 0 0 1 0 1 0 0 0 1 Bilateral 1 17 47 184 113 192 75 129 134 71 Concessional 1 2 2 35 23 26 9 43 23 13 Private creditors 1 100 11 10 8 9 7 10 6 17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 80 5 7 7 7 7 5 3 6 Other private 0 19 6 3 1 2 0 5 3 11 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 6 3 5 5 7 4 2 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 14 -227 92 -261 -206 -427 -279 -410 -311 -326 Public and publicly guaranteed 14 -227 92 -261 -206 -427 -279 -410 -311 -326 Official creditors 5 -3 73 -246 -191 -427 -266 -373 -321 -236 Multilateral -1 -2 51 -52 -21 -54 -76 -68 -27 -92 Concessional 1 0 2 2 0 -2 0 1 0 -9 Bilateral 6 -1 23 -194 -170 -373 -190 -305 -294 -144 Concessional 7 10 62 19 -37 -49 -23 -123 -75 -65 Private creditors 9 -224 18 -15 -15 0 -13 -37 10 -90 Bonds 3 -1 0 0 0 0 0 0 0 0 Commercial banks 0 -171 -8 -27 -19 1 -13 -21 -13 -25 Other private 5 -52 26 12 4 -1 0 -16 23 -65 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 -13 -6 -11 -9 -16 -10 -6 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 12 398 104 406 254 486 311 428 382 355 Public and publicly guaranteed 12 398 104 406 254 486 311 428 382 355 Official creditors 8 38 85 371 229 453 277 378 352 265 Multilateral 5 4 34 86 43 58 85 73 44 109 Concessional 0 0 2 4 1 2 0 0 0 9 Bilateral 3 34 51 285 185 395 192 305 308 156 Concessional 3 6 2 71 51 69 24 123 89 76 Private creditors 4 359 19 35 25 33 34 50 31 90 Bonds 1 1 0 0 0 0 0 0 0 0 Commercial banks 0 266 8 27 22 30 34 34 14 25 Other private 4 93 11 8 3 3 0 16 16 65 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 16 12 15 18 20 12 8 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 34 164 285 419 444 356 181 159 220 271 Official creditors 15 133 268 382 357 307 165 155 220 249 Private creditors 19 31 17 37 87 48 17 3 0 22 Memorandum items Concessional LDOD 36 113 421 898 955 827 1,370 1,288 1,320 974 Variable rate LDOD 0 500 415 562 543 470 399 325 331 378 Public sector LDOD 65 1,246 3,148 3,665 3,835 3,293 3,453 3,041 3,241 3,395 Private sector LDOD 26 26 2 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 45.6 48.6 72.8 Deutsche mark 4.9 4.8 8.4 7.1 6.7 6.0 4.5 .. .. .. French franc 43.2 39.0 54.8 45.3 45.6 43.5 35.6 .. .. .. Japanese yen 0.0 1.5 0.7 0.8 0.8 1.0 0.8 0.7 0.6 0.9 Pound sterling 0.0 0.8 5.3 6.0 5.8 6.0 4.6 4.5 4.2 6.9 Swiss franc 0.0 0.5 0.3 0.7 0.7 0.6 0.5 0.6 0.6 0.3 U.S.dollars 7.6 42.7 10.3 11.2 12.0 12.6 29.1 32.6 30.5 7.5 Multiple currency 32.2 1.5 3.7 8.7 6.7 7.7 6.3 5.7 5.6 5.0 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 All other currencies 12.0 9.2 16.5 20.3 21.7 22.6 18.5 10.3 9.9 6.5 223 GABON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 271 315 127 0 637 50 10 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 188 191 82 0 440 82 0 0 Official .. .. 32 190 82 0 440 82 0 0 Private .. .. 156 1 0 0 0 0 0 0 Interest rescheduled .. .. 77 45 21 0 307 74 0 0 Official .. .. 27 44 21 0 307 74 0 0 Private .. .. 50 0 0 0 0 0 0 0 Debt forgiven .. .. 0 2 0 0 0 0 0 67 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 14 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 -32 149 -446 -62 -497 123 246 Net flows on debt 17 -122 164 259 -169 -112 -341 -269 -245 -362 Net change in interest arrears .. .. 88 0 79 15 -31 -58 10 252 Interest capitalized .. .. 77 45 21 0 307 74 0 0 Debt forgiveness or reduction .. .. 0 -2 0 0 0 0 0 -67 Cross-currency valuation .. .. 293 -371 177 -344 -196 -109 309 370 Residual .. .. 11 37 42 -5 199 -136 49 54 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.1 11.2 7.9 6.0 4.7 0.0 0.0 4.4 4.5 0.0 Maturity (years) 10.8 11.2 17.9 11.4 9.2 0.0 8.7 19.8 9.3 0.0 Grace period (years) 1.5 3.4 4.8 3.9 2.5 0.0 0.7 5.3 2.7 0.0 Grant element (%) 19.2 -5.3 12.3 19.3 23.6 0.0 34.1 36.6 22.8 0.0 Official creditors Interest (%) 4.0 7.4 7.7 5.6 1.6 0.0 0.0 4.4 3.7 0.0 Maturity (years) 17.3 14.8 19.0 13.1 17.5 0.0 8.7 19.8 10.1 0.0 Grace period (years) 3.6 5.0 5.4 4.8 5.3 0.0 0.7 5.3 3.9 0.0 Grant element (%) 34.4 15.0 13.9 23.1 54.2 0.0 34.1 36.6 28.4 0.0 Private creditors Interest (%) 5.2 13.0 9.0 6.9 6.0 0.0 0.0 0.0 5.9 0.0 Maturity (years) 10.0 9.5 11.8 7.3 5.9 0.0 0.0 0.0 7.8 0.0 Grace period (years) 1.3 2.6 1.3 1.9 1.4 0.0 0.0 0.0 0.4 0.0 Grant element (%) 17.4 -15.4 3.3 10.2 11.2 0.0 0.0 0.0 12.3 0.0 Memorandum items Commitments 33 196 65 175 81 0 20 7 114 0 Official creditors 4 65 56 124 24 0 20 7 74 0 Private creditors 29 131 10 51 58 0 0 0 39 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 88 70 47 29 16 8 3 0 0 0 Principal 492 488 463 458 445 412 173 128 86 27 Interest 180 153 125 98 71 42 22 14 6 3 Official creditors Disbursements 74 65 44 29 16 8 3 0 0 0 Principal 453 450 434 432 418 399 165 125 84 25 Interest 171 146 120 94 68 40 21 13 6 3 Bilateral creditors Disbursements 14 10 6 3 3 1 1 0 0 0 Principal 379 375 361 362 353 345 122 84 49 3 Interest 153 129 104 80 56 31 14 8 2 0 Multilateral creditors Disbursements 59 54 39 25 14 7 2 0 0 0 Principal 74 75 72 70 65 54 43 41 34 23 Interest 19 18 16 14 11 9 7 5 3 2 Private creditors Disbursements 14 5 2 0 0 0 0 0 0 0 Principal 39 38 30 26 26 13 8 3 3 2 Interest 8 7 5 4 3 2 1 1 1 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 7 7 5 2 2 2 1 1 1 0 Interest 1 1 1 0 0 0 0 0 0 0 Other private Disbursements 14 5 2 0 0 0 0 0 0 0 Principal 32 31 25 24 24 11 7 2 2 2 Interest 7 6 5 4 3 2 1 1 0 0 224 GAMBIA, THE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5.1 136.8 369.1 424.6 459.5 464.6 483.3 486.9 572.7 628.8 Long-term debt (LDOD) 5.1 97.3 308.4 401.2 433.6 431.1 437.9 434.3 503.8 561.2 Public and publicly guaranteed 5.1 97.3 308.4 401.2 433.6 431.1 437.9 434.3 503.8 561.2 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 16.2 44.9 10.2 10.4 11.3 18.1 25.9 31.9 34.9 Short-term debt 0.0 23.3 15.7 13.2 15.5 22.2 27.3 26.8 37.0 32.7 of which interest arrears on LDOD 0.0 0.3 0.6 0.2 0.2 0.0 0.0 0.0 0.0 2.7 Official creditors 0.0 0.2 0.6 0.2 0.2 0.0 0.0 0.0 0.0 2.6 Private creditors 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Memo: principal arrears on LDOD 0.0 0.0 0.9 0.9 0.7 1.3 2.0 4.0 6.4 14.6 Official creditors 0.0 0.0 0.9 0.9 0.7 1.3 2.0 4.0 6.4 13.8 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 TOTAL DEBT FLOWS Disbursements 0.8 55.7 32.8 24.0 20.9 26.3 29.7 31.4 56.0 37.8 Long-term debt 0.8 51.2 23.5 24.0 16.2 21.6 20.7 22.7 52.2 37.8 IMF purchases 0.0 4.4 9.3 0.0 4.7 4.7 9.1 8.7 3.7 0.0 Principal repayments 0.1 0.4 25.5 19.8 19.5 14.7 14.3 9.8 10.4 10.8 Long-term debt 0.1 0.4 20.2 13.5 14.6 11.1 12.7 9.6 10.4 10.8 IMF repurchases 0.0 0.0 5.3 6.4 4.9 3.5 1.6 0.2 0.0 0.0 Net flows on debt 0.7 58.3 15.5 -5.3 3.7 18.5 20.6 21.1 55.8 20.0 of which short-term debt 0.0 3.0 8.1 -9.4 2.3 6.8 5.2 -0.5 10.2 -7.0 Interest payments (INT) 0.0 3.8 12.3 6.8 6.3 6.5 7.3 4.6 6.2 9.1 Long-term debt 0.0 0.4 10.2 5.7 5.4 5.5 6.0 3.5 5.5 8.6 IMF charges 0.0 0.5 1.3 0.1 0.1 0.0 0.1 0.1 0.1 0.1 Short-term debt 0.0 2.9 0.8 1.1 0.8 1.0 1.2 1.0 0.6 0.4 Net transfers on debt 0.7 54.5 3.2 -12.1 -2.6 12.0 13.3 16.5 49.6 11.0 Total debt service paid (TDS) 0.1 4.1 37.7 26.7 25.7 21.2 21.5 14.4 16.6 19.9 Long-term debt 0.1 0.8 30.3 19.1 20.0 16.6 18.7 13.1 15.9 19.4 IMF repurchases and charges 0.0 0.5 6.7 6.4 4.9 3.6 1.7 0.3 0.1 0.1 Short-term debt (interest only) 0.0 2.9 0.8 1.1 0.8 1.0 1.2 1.0 0.6 0.4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 0.9 78.0 48.0 40.1 49.4 73.9 73.2 62.6 105.1 105.4 Net flow of long-term debt (ex. IMF) 0.7 50.9 3.4 10.5 1.6 10.5 8.0 13.1 41.8 27.0 Foreign direct investment (net) 0.1 0.0 0.0 12.0 23.7 49.5 43.5 35.5 42.8 60.0 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.) 0.1 27.2 44.7 17.6 24.0 13.9 21.7 14.0 20.5 18.3 Memo: technical coop. grants 0.7 12.7 24.2 14.1 11.4 12.2 9.7 11.4 12.7 14.2 official net resource flows 0.8 56.7 55.5 28.1 25.7 23.6 30.2 27.5 62.5 45.4 private net resource flows 0.1 21.3 -7.5 12.0 23.7 50.3 43.0 35.1 42.6 60.0 NET TRANSFERS 0.9 75.8 37.9 34.4 44.0 68.5 67.2 59.1 99.6 96.8 Interest on long-term debt 0.0 0.4 10.2 5.7 5.4 5.5 6.0 3.5 5.5 8.6 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 22.4 20.3 18.1 24.4 24.1 57.0 36.8 private net transfers 0.1 19.5 -12.1 12.0 23.7 50.3 42.8 35.0 42.6 60.0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 52.3 237.0 291.4 401.3 396.6 410.8 400.4 393.7 347.3 369.7 Exports of goods, serv. & inc. (XGS) .. 66.2 169.7 232.7 .. .. .. .. .. .. Worker remit. & comp. of employees 0.0 2.0 10.0 20.0 27.0 24.0 19.0 30.0 33.0 40.0 Imports of goods & services (MGS) .. 181.5 205.4 293.1 .. .. .. .. .. .. International reserves (RES) 8.1 5.7 55.4 96.0 106.4 111.2 109.4 106.0 106.9 .. Current account balance .. -86.9 23.4 -23.6 .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 206.5 217.5 182.5 .. .. .. .. .. .. EDT / GNI (%) 9.7 57.7 126.7 105.8 115.9 113.1 120.7 123.7 164.9 170.1 TDS / XGS (%) .. 6.2 22.2 11.5 .. .. .. .. .. .. INT / XGS (%) .. 5.7 7.2 2.9 .. .. .. .. .. .. INT / GNI (%) 0.0 1.6 4.2 1.7 1.6 1.6 1.8 1.2 1.8 2.5 RES / EDT (%) 159.8 4.1 15.0 22.6 23.1 23.9 22.6 21.8 18.7 .. RES / MGS (months) .. 0.4 3.2 3.9 .. .. .. .. .. .. Short-term / EDT (%) 0.0 17.0 4.3 3.1 3.4 4.8 5.7 5.5 6.5 5.2 Concessional / EDT (%) 96.0 49.9 67.8 91.3 90.8 89.9 87.1 86.5 85.8 87.4 Multilateral / EDT (%) 0.0 29.9 55.0 76.8 75.7 74.5 71.1 70.5 68.6 71.7 225 GAMBIA, THE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5.1 97.3 308.4 401.2 433.6 431.1 437.9 434.3 503.8 561.2 Public and publicly guaranteed 5.1 97.3 308.4 401.2 433.6 431.1 437.9 434.3 503.8 561.2 Official creditors 5.1 73.4 290.1 401.2 433.6 430.3 436.2 433.1 502.7 560.0 Multilateral 0.0 40.9 203.1 326.0 347.7 346.0 343.7 343.5 392.9 450.7 Concessional 0.0 35.8 183.3 312.7 331.2 333.4 333.6 335.6 385.4 444.3 Bilateral 5.1 32.5 87.0 75.2 85.9 84.3 92.5 89.6 109.8 109.3 Concessional 4.9 32.5 66.8 75.2 85.9 84.3 87.3 85.5 106.1 105.1 Private creditors 0.0 23.9 18.3 0.0 0.0 0.8 1.7 1.2 1.1 1.2 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 7.4 16.0 0.0 0.0 0.0 0.9 0.6 0.7 0.8 Other private 0.0 16.5 2.3 0.0 0.0 0.8 0.7 0.6 0.4 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 15.9 101.6 165.6 172.6 172.8 170.7 169.9 194.5 220.1 DISBURSEMENTS 0.8 51.2 23.5 24.0 16.2 21.6 20.7 22.7 52.2 37.8 Public and publicly guaranteed 0.8 51.2 23.5 24.0 16.2 21.6 20.7 22.7 52.2 37.8 Official creditors 0.8 29.6 23.5 24.0 16.2 20.8 20.7 22.7 52.2 37.8 Multilateral 0.0 18.3 17.7 23.1 14.4 15.7 17.1 19.6 29.3 34.4 Concessional 0.0 16.1 16.6 23.1 14.4 15.7 17.1 19.6 29.3 34.4 Bilateral 0.8 11.3 5.8 0.8 1.9 5.1 3.6 3.1 23.0 3.4 Concessional 0.8 11.3 5.8 0.8 1.9 5.1 3.6 3.1 23.0 3.4 Private creditors 0.0 21.7 0.0 0.0 0.0 0.8 0.0 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 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 0.8 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 5.2 9.8 9.1 3.1 5.5 7.7 7.5 15.0 11.4 PRINCIPAL REPAYMENTS 0.1 0.4 20.2 13.5 14.6 11.1 12.7 9.6 10.4 10.8 Public and publicly guaranteed 0.1 0.4 20.2 13.5 14.6 11.1 12.7 9.6 10.4 10.8 Official creditors 0.1 0.0 12.7 13.5 14.6 11.1 12.2 9.1 10.3 10.8 Multilateral 0.0 0.0 4.7 6.6 8.3 6.9 7.9 4.0 3.9 4.6 Concessional 0.0 0.0 2.7 4.0 6.0 4.7 6.4 2.9 2.9 4.2 Bilateral 0.1 0.0 7.9 6.8 6.2 4.3 4.3 5.1 6.4 6.2 Concessional 0.1 0.0 7.9 6.4 6.2 4.3 3.3 4.1 5.2 6.2 Private creditors 0.0 0.3 7.5 0.0 0.0 0.0 0.5 0.4 0.2 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 0.1 3.0 0.0 0.0 0.0 0.3 0.3 0.0 0.0 Other private 0.0 0.3 4.5 0.0 0.0 0.0 0.2 0.1 0.2 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 1.3 1.4 1.9 2.3 0.6 0.7 1.0 NET FLOWS ON DEBT 0.7 50.9 3.4 10.5 1.6 10.5 8.0 13.1 41.8 27.0 Public and publicly guaranteed 0.7 50.9 3.4 10.5 1.6 10.5 8.0 13.1 41.8 27.0 Official creditors 0.7 29.5 10.9 10.5 1.6 9.7 8.5 13.5 42.0 27.0 Multilateral 0.0 18.3 13.0 16.5 6.0 8.8 9.1 15.6 25.4 29.8 Concessional 0.0 16.1 13.9 19.1 8.3 11.0 10.7 16.7 26.4 30.2 Bilateral 0.7 11.3 -2.1 -6.0 -4.4 0.9 -0.7 -2.1 16.6 -2.8 Concessional 0.7 11.3 -2.1 -5.6 -4.4 0.9 0.3 -1.1 17.8 -2.8 Private creditors 0.0 21.3 -7.5 0.0 0.0 0.8 -0.5 -0.4 -0.2 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 6.9 -3.0 0.0 0.0 0.0 -0.3 -0.3 0.0 0.0 Other private 0.0 14.4 -4.5 0.0 0.0 0.8 -0.2 -0.1 -0.2 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 9.5 7.8 1.7 3.6 5.4 6.9 14.3 10.4 226 GAMBIA, THE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.0 0.4 10.2 5.7 5.4 5.5 6.0 3.5 5.5 8.6 Public and publicly guaranteed 0.0 0.4 10.2 5.7 5.4 5.5 6.0 3.5 5.5 8.6 Official creditors 0.0 0.4 5.5 5.7 5.4 5.5 5.8 3.4 5.5 8.6 Multilateral 0.0 0.4 2.9 3.4 3.3 3.5 3.6 2.5 3.2 4.5 Concessional 0.0 0.2 1.5 2.7 2.7 3.0 3.3 2.2 3.0 4.0 Bilateral 0.0 0.0 2.6 2.3 2.1 2.0 2.2 0.9 2.2 4.1 Concessional 0.0 0.0 2.6 2.3 2.1 2.0 1.8 0.6 1.9 4.1 Private creditors 0.0 0.0 4.7 0.0 0.0 0.0 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 0.0 0.0 Commercial banks 0.0 0.0 3.8 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Other private 0.0 0.0 0.9 0.0 0.0 0.0 0.1 0.1 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 0.1 0.7 1.2 1.2 1.3 1.2 1.1 1.2 1.4 NET TRANSFERS ON DEBT 0.7 50.5 -6.8 4.8 -3.8 5.0 2.0 9.6 36.3 18.4 Public and publicly guaranteed 0.7 50.5 -6.8 4.8 -3.8 5.0 2.0 9.6 36.3 18.4 Official creditors 0.7 29.2 5.4 4.8 -3.8 4.2 2.7 10.1 36.5 18.4 Multilateral 0.0 17.9 10.1 13.1 2.7 5.3 5.5 13.1 22.1 25.3 Concessional 0.0 15.9 12.4 16.4 5.6 8.0 7.5 14.5 23.4 26.2 Bilateral 0.7 11.3 -4.7 -8.3 -6.5 -1.1 -2.8 -3.0 14.4 -6.8 Concessional 0.7 11.3 -4.7 -7.8 -6.5 -1.1 -1.5 -1.7 15.8 -6.8 Private creditors 0.0 21.3 -12.1 0.0 0.0 0.8 -0.7 -0.5 -0.2 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 6.9 -6.8 0.0 0.0 0.0 -0.4 -0.3 0.0 0.0 Other private 0.0 14.4 -5.4 0.0 0.0 0.8 -0.3 -0.2 -0.2 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 5.1 8.8 6.6 0.4 2.4 4.2 5.8 13.0 8.9 DEBT SERVICE (LTDS) 0.1 0.8 30.3 19.1 20.0 16.6 18.7 13.1 15.9 19.4 Public and publicly guaranteed 0.1 0.8 30.3 19.1 20.0 16.6 18.7 13.1 15.9 19.4 Official creditors 0.1 0.4 18.2 19.1 20.0 16.6 18.0 12.6 15.7 19.4 Multilateral 0.0 0.4 7.7 10.0 11.6 10.4 11.6 6.5 7.1 9.1 Concessional 0.0 0.2 4.2 6.7 8.7 7.6 9.6 5.1 5.9 8.3 Bilateral 0.1 0.0 10.5 9.1 8.3 6.2 6.4 6.1 8.6 10.3 Concessional 0.1 0.0 10.5 8.7 8.3 6.2 5.1 4.8 7.1 10.3 Private creditors 0.0 0.4 12.1 0.0 0.0 0.0 0.7 0.5 0.2 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 0.1 6.8 0.0 0.0 0.0 0.4 0.3 0.0 0.0 Other private 0.0 0.3 5.4 0.0 0.0 0.0 0.3 0.2 0.2 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 1.0 2.5 2.6 3.2 3.5 1.7 2.0 2.4 UNDISBURSED DEBT 5.5 106.3 167.7 64.7 112.1 143.8 142.0 187.5 234.2 209.3 Official creditors 5.5 87.7 167.7 64.7 112.1 143.8 142.0 187.5 234.2 209.3 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 68.3 250.1 387.9 417.1 417.8 420.9 421.1 491.5 549.4 Variable rate LDOD 0.0 7.7 17.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD 5.1 94.0 306.6 401.2 433.6 431.1 437.9 434.3 503.8 561.2 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 4.9 Deutsche mark 0.0 1.8 1.8 0.1 0.1 0.1 0.1 .. .. .. French franc 0.0 1.4 7.7 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 5.3 5.1 4.8 4.7 3.9 3.3 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 50.3 50.4 52.0 51.3 52.3 54.9 53.7 Multiple currency 0.0 6.9 19.8 21.7 21.5 21.2 19.9 19.4 17.7 16.9 Special drawing rights 0.0 0.0 0.0 0.1 0.1 0.4 0.7 1.1 1.2 1.4 All other currencies 0.0 40.6 21.8 20.6 21.9 20.8 21.1 16.7 16.8 19.7 227 GAMBIA, THE (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 0.0 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 4.1 4.0 3.9 Memo: interest forgiven .. .. 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.2 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 -27.3 34.9 5.1 18.7 3.6 85.8 56.1 Net flows on debt 0.7 58.3 15.5 -5.3 3.7 18.5 20.6 21.1 55.8 20.0 Net change in interest arrears .. .. -3.5 0.0 0.0 -0.1 0.0 0.0 0.0 2.7 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 -4.1 -4.0 -3.9 Cross-currency valuation .. .. 3.3 -38.8 -19.0 -12.2 -9.5 -5.1 20.3 21.2 Residual .. .. 16.1 16.7 50.2 -1.1 7.7 -8.3 13.8 16.0 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.7 3.9 0.8 1.0 1.1 1.3 1.7 1.2 1.9 0.0 Maturity (years) 49.7 20.3 42.1 49.6 33.0 30.8 27.4 36.6 31.0 0.0 Grace period (years) 10.4 4.9 10.0 10.5 8.6 6.2 6.8 8.5 8.3 0.0 Grant element (%) 83.3 39.1 79.7 80.5 71.6 65.6 61.3 72.3 64.8 0.0 Official creditors Interest (%) 0.7 1.7 0.8 1.0 1.1 1.3 1.7 1.2 1.9 0.0 Maturity (years) 49.7 25.1 42.1 49.6 33.0 31.3 27.4 36.6 31.0 0.0 Grace period (years) 10.4 5.8 10.0 10.5 8.6 6.3 6.8 8.5 8.3 0.0 Grant element (%) 83.3 55.8 79.7 80.5 71.6 66.5 61.3 72.3 64.8 0.0 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 22 60 60 24 72 87 0 Official creditors 2 46 38 22 60 59 24 72 87 0 Private creditors 0 27 0 0 0 1 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 49.8 49.7 38.0 26.9 18.2 12.2 7.3 3.4 2.6 1.0 Principal 21.2 21.7 21.5 22.6 23.1 24.5 26.7 27.7 28.2 28.5 Interest 7.1 7.3 7.4 7.3 7.2 7.0 6.7 6.3 5.9 5.5 Official creditors Disbursements 49.8 49.7 38.0 26.9 18.2 12.2 7.3 3.4 2.6 1.0 Principal 21.0 21.4 21.5 22.6 23.1 24.5 26.7 27.7 28.2 28.5 Interest 7.1 7.3 7.4 7.3 7.2 7.0 6.7 6.3 5.9 5.5 Bilateral creditors Disbursements 9.8 7.5 5.2 3.0 1.4 0.8 0.3 0.2 0.2 0.0 Principal 9.0 8.4 7.4 7.2 7.2 7.2 7.8 7.5 7.3 7.1 Interest 2.9 2.9 2.9 2.8 2.7 2.6 2.4 2.2 2.0 1.7 Multilateral creditors Disbursements 40.0 42.2 32.8 23.9 16.8 11.4 7.0 3.2 2.4 1.0 Principal 12.0 13.0 14.1 15.4 15.9 17.3 18.9 20.3 20.9 21.4 Interest 4.2 4.4 4.5 4.5 4.5 4.4 4.3 4.2 4.0 3.8 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.3 0.2 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 0.2 0.2 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 0.1 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 0.0 228 GEORGIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,466 1,648 1,653 1,638 1,729 1,839 1,935 Long-term debt (LDOD) .. .. .. 1,190 1,316 1,326 1,316 1,364 1,496 1,608 Public and publicly guaranteed .. .. .. 1,190 1,301 1,309 1,274 1,311 1,445 1,564 Private nonguaranteed .. .. .. 0 15 17 42 53 51 44 Use of IMF credit .. .. .. 255 304 320 278 287 310 289 Short-term debt .. .. .. 22 28 7 44 78 33 38 of which interest arrears on LDOD .. .. .. 18 0 1 1 18 0 7 Official creditors .. .. .. 18 0 1 1 18 0 7 Private creditors .. .. .. 0 0 0 0 0 0 0 Memo: principal arrears on LDOD .. .. .. 77 59 113 179 247 302 314 Official creditors .. .. .. 77 59 113 179 247 302 314 Private creditors .. .. .. 0 0 0 0 0 0 0 Memo: export credits .. .. .. 84 91 82 76 125 140 153 TOTAL DEBT FLOWS Disbursements .. .. .. 173 279 142 65 142 128 89 Long-term debt .. .. .. 96 241 97 65 108 99 89 IMF purchases .. .. .. 76 38 46 0 34 29 0 Principal repayments .. .. .. 3 150 62 68 43 86 139 Long-term debt .. .. .. 3 149 40 42 27 56 91 IMF repurchases .. .. .. 0 1 22 26 15 30 47 Net flows on debt .. .. .. 153 153 59 33 117 16 -52 of which short-term debt .. .. .. -17 24 -22 36 17 -27 -2 Interest payments (INT) .. .. .. 44 63 47 49 35 43 42 Long-term debt .. .. .. 37 57 42 43 29 39 39 IMF charges .. .. .. 6 6 5 5 3 2 2 Short-term debt .. .. .. 1 1 0 1 2 2 1 Net transfers on debt .. .. .. 109 90 12 -17 82 -27 -94 Total debt service paid (TDS) .. .. .. 46 213 109 118 77 129 181 Long-term debt .. .. .. 40 205 82 86 57 95 131 IMF repurchases and charges .. .. .. 6 7 26 31 19 32 49 Short-term debt (interest only) .. .. .. 1 1 0 1 2 2 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 392 420 211 211 265 281 416 Net flow of long-term debt (ex. IMF) .. .. .. 94 93 57 23 80 43 -3 Foreign direct investment (net) .. .. .. 243 265 82 131 110 167 338 Portfolio equity flows .. .. .. 2 0 6 0 0 0 0 Grants (excluding technical coop.) .. .. .. 53 62 66 57 75 70 81 Memo: technical coop. grants .. .. .. 19 26 41 83 106 153 108 official net resource flows .. .. .. 147 148 118 54 142 130 96 private net resource flows .. .. .. 245 272 93 157 123 151 320 NET TRANSFERS .. .. .. 352 364 169 167 225 189 308 Interest on long-term debt .. .. .. 37 57 42 43 29 39 39 Profit remittances on FDI .. .. .. 3 0 0 0 11 53 69 Memo: official net transfers .. .. .. 110 92 78 12 115 93 58 private net transfers .. .. .. 242 271 91 155 110 96 250 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 3,639 3,798 2,951 3,161 3,239 3,434 4,015 Exports of goods, serv. & inc. (XGS) .. .. .. 864 1,046 907 939 995 1,235 1,520 Worker remit. & comp. of employees .. .. .. 284 373 361 274 181 238 246 Imports of goods & services (MGS) .. .. .. 1,472 1,392 1,152 1,248 1,348 1,569 2,000 International reserves (RES) .. .. .. 200 123 132 109 159 198 191 Current account balance .. .. .. -514 -276 -198 -269 -212 -198 -371 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 169.6 157.6 182.3 174.5 173.7 148.9 127.3 EDT / GNI (%) .. .. .. 40.3 43.4 56.0 51.8 53.4 53.5 48.2 TDS / XGS (%) .. .. .. 5.4 20.3 12.0 12.5 7.8 10.4 11.9 INT / XGS (%) .. .. .. 5.0 6.0 5.2 5.3 3.5 3.5 2.8 INT / GNI (%) .. .. .. 1.2 1.7 1.6 1.6 1.1 1.3 1.1 RES / EDT (%) .. .. .. 13.6 7.5 8.0 6.7 9.2 10.7 9.9 RES / MGS (months) .. .. .. 1.6 1.1 1.4 1.1 1.4 1.5 1.1 Short-term / EDT (%) .. .. .. 1.5 1.7 0.4 2.7 4.5 1.8 2.0 Concessional / EDT (%) .. .. .. 43.5 46.0 49.6 49.1 49.7 54.4 59.4 Multilateral / EDT (%) .. .. .. 24.7 26.4 29.1 29.2 30.1 34.6 38.4 229 GEORGIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 1,190 1,316 1,326 1,316 1,364 1,496 1,608 Public and publicly guaranteed .. .. .. 1,190 1,301 1,309 1,274 1,311 1,445 1,564 Official creditors .. .. .. 1,187 1,298 1,307 1,272 1,309 1,443 1,561 Multilateral .. .. .. 363 436 481 478 521 636 744 Concessional .. .. .. 212 275 348 350 399 495 589 Bilateral .. .. .. 824 862 826 794 788 806 818 Concessional .. .. .. 426 484 473 454 460 504 561 Private creditors .. .. .. 3 3 2 2 2 2 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 3 3 2 2 2 2 3 Private nonguaranteed .. .. .. 0 15 17 42 53 51 44 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 15 17 42 53 51 44 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 212 274 346 347 396 491 583 DISBURSEMENTS .. .. .. 96 241 97 65 108 99 89 Public and publicly guaranteed .. .. .. 96 234 92 37 91 93 72 Official creditors .. .. .. 96 234 92 37 91 93 72 Multilateral .. .. .. 76 186 83 25 74 73 50 Concessional .. .. .. 64 54 80 19 63 63 45 Bilateral .. .. .. 20 48 9 13 17 19 22 Concessional .. .. .. 20 48 9 13 17 19 22 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 7 5 28 17 7 16 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 7 5 28 17 7 16 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 64 53 79 18 63 61 43 PRINCIPAL REPAYMENTS .. .. .. 3 149 40 42 27 56 91 Public and publicly guaranteed .. .. .. 3 149 39 41 24 33 58 Official creditors .. .. .. 3 149 39 41 24 33 57 Multilateral .. .. .. 0 129 14 5 12 7 12 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 3 20 25 35 12 26 46 Concessional .. .. .. 3 0 0 22 0 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 1 2 4 23 34 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 1 2 4 23 34 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 94 93 57 23 80 43 -3 Public and publicly guaranteed .. .. .. 94 86 53 -3 67 60 15 Official creditors .. .. .. 94 86 53 -3 67 60 15 Multilateral .. .. .. 76 57 69 19 62 67 38 Concessional .. .. .. 64 54 80 19 63 63 45 Bilateral .. .. .. 17 29 -16 -23 5 -7 -23 Concessional .. .. .. 17 48 9 -10 17 19 22 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 7 4 26 13 -16 -17 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 7 4 26 13 -16 -17 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 64 53 79 18 63 61 43 230 GEORGIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 37 57 42 43 29 39 39 Public and publicly guaranteed .. .. .. 37 56 41 42 27 37 38 Official creditors .. .. .. 37 56 41 42 27 37 38 Multilateral .. .. .. 8 24 8 8 10 10 9 Concessional .. .. .. 1 2 2 3 3 3 4 Bilateral .. .. .. 29 32 33 34 17 27 28 Concessional .. .. .. 13 15 16 17 17 16 17 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 2 2 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 1 1 2 2 1 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 2 2 3 3 3 4 NET TRANSFERS ON DEBT .. .. .. 56 36 15 -21 51 5 -42 Public and publicly guaranteed .. .. .. 56 30 12 -45 40 23 -23 Official creditors .. .. .. 56 30 12 -45 40 23 -23 Multilateral .. .. .. 69 33 61 11 52 56 29 Concessional .. .. .. 63 52 78 16 61 59 41 Bilateral .. .. .. -12 -3 -49 -56 -12 -33 -52 Concessional .. .. .. 4 33 -7 -27 0 3 5 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 6 3 24 11 -18 -19 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 6 3 24 11 -18 -19 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 63 51 77 15 61 58 40 DEBT SERVICE (LTDS) .. .. .. 40 205 82 86 57 95 131 Public and publicly guaranteed .. .. .. 40 205 80 83 51 70 95 Official creditors .. .. .. 40 204 80 82 51 70 95 Multilateral .. .. .. 8 153 22 14 22 17 21 Concessional .. .. .. 1 2 2 3 3 3 4 Bilateral .. .. .. 32 52 58 69 29 53 74 Concessional .. .. .. 16 15 16 39 17 16 17 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 2 3 6 25 35 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 2 3 6 25 35 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 1 2 2 3 3 3 4 UNDISBURSED DEBT .. .. .. 181 271 332 346 344 310 314 Official creditors .. .. .. 181 271 332 346 344 310 314 Private creditors .. .. .. 0 0 0 0 0 0 0 Memorandum items Concessional LDOD .. .. .. 638 758 821 803 860 1,000 1,150 Variable rate LDOD .. .. .. 141 162 136 156 162 181 189 Public sector LDOD .. .. .. 1,186 1,292 1,299 1,264 1,303 1,439 1,559 Private sector LDOD .. .. .. 4 24 27 52 61 57 49 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 15.6 17.0 19.3 Deutsche mark .. .. .. 2.7 3.8 3.7 4.0 .. .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 .. .. .. Japanese yen .. .. .. 0.0 0.0 0.0 0.2 0.7 1.5 2.3 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.3 0.3 0.2 0.2 0.2 0.2 0.2 U.S.dollars .. .. .. 79.2 78.9 82.2 82.3 83.2 80.5 77.0 Multiple currency .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Special drawing rights .. .. .. 0.0 0.1 0.1 0.2 0.2 0.3 0.4 All other currencies .. .. .. 17.8 16.9 13.7 13.1 0.1 0.6 0.8 231 GEORGIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 167 0 0 0 34 48 0 Debt stock rescheduled .. .. .. 96 0 0 0 0 0 0 Principal rescheduled .. .. .. 35 0 0 0 34 48 0 Official .. .. .. 35 0 0 0 34 48 0 Private .. .. .. 0 0 0 0 0 0 0 Interest rescheduled .. .. .. 17 0 0 0 0 0 0 Official .. .. .. 5 0 0 0 0 0 0 Private .. .. .. 11 0 0 0 0 0 0 Debt forgiven .. .. .. 4 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 .. .. .. 104 182 5 -16 91 110 96 Net flows on debt .. .. .. 153 153 59 33 117 16 -52 Net change in interest arrears .. .. .. -25 -17 1 1 17 -18 7 Interest capitalized .. .. .. 17 0 0 0 0 0 0 Debt forgiveness or reduction .. .. .. -4 0 0 0 0 0 0 Cross-currency valuation .. .. .. -115 -25 -52 -51 -36 97 132 Residual .. .. .. 79 72 -2 2 -7 15 9 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 0.7 4.1 0.6 1.1 0.8 0.8 0.8 Maturity (years) .. .. .. 34.3 22.5 35.2 32.0 39.6 39.4 39.7 Grace period (years) .. .. .. 9.6 9.5 10.2 8.9 10.1 9.9 10.4 Grant element (%) .. .. .. 78.4 45.5 80.5 72.2 80.4 80.1 80.7 Official creditors Interest (%) .. .. .. 0.7 4.1 0.6 1.1 0.8 0.8 0.8 Maturity (years) .. .. .. 34.3 22.5 35.2 32.0 39.6 39.4 39.7 Grace period (years) .. .. .. 9.6 9.5 10.2 8.9 10.1 9.9 10.4 Grant element (%) .. .. .. 78.4 45.5 80.5 72.2 80.4 80.1 80.7 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 .. .. .. 181 312 156 72 107 55 47 Official creditors .. .. .. 181 312 156 72 107 55 47 Private creditors .. .. .. 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 67 61 48 41 32 22 16 11 7 4 Principal 64 70 69 64 51 73 76 75 57 58 Interest 21 21 19 17 15 14 13 11 10 9 Official creditors Disbursements 67 61 48 41 32 22 16 11 7 4 Principal 58 61 58 56 47 70 73 72 57 58 Interest 21 19 18 16 15 14 12 11 10 9 Bilateral creditors Disbursements 27 23 14 8 4 2 1 0 0 0 Principal 48 50 45 41 30 28 30 29 12 13 Interest 14 13 11 10 8 7 6 5 5 4 Multilateral creditors Disbursements 41 38 34 33 28 21 15 11 7 4 Principal 10 11 13 15 17 42 43 43 44 45 Interest 6 6 6 6 6 6 6 6 5 5 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 5 9 11 8 4 3 3 2 1 0 Interest 1 2 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 0 0 0 0 0 0 0 0 0 0 Principal 5 9 11 8 4 3 3 2 1 0 Interest 1 2 1 1 1 0 0 0 0 0 232 GHANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 571 1,402 3,837 6,313 6,933 6,979 6,625 6,735 7,340 7,957 Long-term debt (LDOD) 520 1,166 2,772 5,289 5,878 5,951 5,744 5,896 6,384 6,805 Public and publicly guaranteed 510 1,156 2,739 5,022 5,615 5,691 5,487 5,641 6,131 6,804 Private nonguaranteed 10 10 33 267 263 260 257 255 253 1 Use of IMF credit 46 105 745 347 334 310 293 284 363 453 Short-term debt 5 131 320 677 722 718 588 555 593 700 of which interest arrears on LDOD 5 5 56 13 16 20 26 18 21 25 Official creditors 1 4 45 5 11 13 19 4 5 6 Private creditors 4 1 11 9 4 8 7 14 16 18 Memo: principal arrears on LDOD 25 6 77 14 63 88 84 47 62 80 Official creditors 7 4 50 7 54 64 60 9 21 26 Private creditors 18 2 27 6 10 24 24 38 41 54 Memo: export credits 0 0 411 883 212 246 209 239 484 434 TOTAL DEBT FLOWS Disbursements 44 249 503 649 713 457 429 641 316 387 Long-term debt 42 220 438 649 602 396 394 574 248 313 IMF purchases 2 29 65 0 112 61 35 67 68 74 Principal repayments 39 106 260 395 386 344 309 216 100 386 Long-term debt 14 77 144 230 248 268 272 150 95 384 IMF repurchases 25 29 116 166 139 76 37 65 5 2 Net flows on debt 5 75 341 275 369 105 -16 400 251 105 of which short-term debt 0 -68 98 21 42 -8 -136 -25 34 104 Interest payments (INT) 12 53 106 160 192 175 155 98 92 95 Long-term debt 12 31 57 126 152 136 116 70 74 73 IMF charges 0 4 37 5 2 2 1 1 2 2 Short-term debt 0 18 12 29 38 38 38 27 17 20 Net transfers on debt -7 22 235 115 176 -70 -171 302 158 10 Total debt service paid (TDS) 51 159 367 555 579 519 465 314 192 481 Long-term debt 26 108 201 355 400 404 388 220 169 457 IMF repurchases and charges 25 33 153 171 141 77 39 67 6 4 Short-term debt (interest only) 0 18 12 29 38 38 38 27 17 20 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 101 181 758 665 762 629 514 820 575 481 Net flow of long-term debt (ex. IMF) 28 143 294 419 354 128 122 423 153 -70 Foreign direct investment (net) 68 16 15 83 167 244 166 89 59 137 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 5 22 449 163 240 257 227 308 363 414 Memo: technical coop. grants 15 42 61 108 104 112 126 115 127 138 official net resource flows 35 207 763 498 541 437 407 577 539 647 private net resource flows 66 -26 -5 167 221 193 107 244 36 -166 NET TRANSFERS 89 135 693 540 610 493 398 751 501 408 Interest on long-term debt 12 31 57 126 152 136 116 70 74 73 Profit remittances on FDI 0 15 7 0 0 0 0 0 0 0 Memo: official net transfers 28 183 720 421 452 358 333 535 496 592 private net transfers 61 -48 -27 119 158 136 65 216 5 -184 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,170 4,426 5,774 6,750 7,322 7,547 4,831 5,201 6,030 7,459 Exports of goods, serv. & inc. (XGS) .. 1,214 955 1,707 2,588 2,519 2,489 2,461 2,628 3,279 Worker remit. & comp. of employees 0 1 6 26 30 31 32 46 44 65 Imports of goods & services (MGS) .. 1,264 1,583 2,645 3,814 4,073 3,474 3,699 3,517 4,358 International reserves (RES) 43 330 309 618 457 535 309 376 636 1,470 Current account balance .. 30 -223 -403 -522 -964 -387 -325 -32 255 4. DEBT INDICATORS EDT / XGS (%) .. 115.5 401.9 369.7 267.9 277.1 266.2 273.7 279.3 242.7 EDT / GNI (%) 26.3 31.7 66.5 93.5 94.7 92.5 137.1 129.5 121.7 106.7 TDS / XGS (%) .. 13.1 38.4 32.5 22.4 20.6 18.7 12.8 7.3 14.7 INT / XGS (%) .. 4.4 11.1 9.4 7.4 7.0 6.2 4.0 3.5 2.9 INT / GNI (%) 0.6 1.2 1.8 2.4 2.6 2.3 3.2 1.9 1.5 1.3 RES / EDT (%) 7.5 23.5 8.1 9.8 6.6 7.7 4.7 5.6 8.7 18.5 RES / MGS (months) .. 3.1 2.3 2.8 1.4 1.6 1.1 1.2 2.2 4.0 Short-term / EDT (%) 0.9 9.3 8.3 10.7 10.4 10.3 8.9 8.2 8.1 8.8 Concessional / EDT (%) 43.1 55.3 54.1 64.0 66.1 68.5 71.2 68.8 70.5 73.9 Multilateral / EDT (%) 9.3 19.9 48.1 50.6 51.4 52.8 55.3 55.3 55.7 58.5 233 GHANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 520 1,166 2,772 5,289 5,878 5,951 5,744 5,896 6,384 6,805 Public and publicly guaranteed 510 1,156 2,739 5,022 5,615 5,691 5,487 5,641 6,131 6,804 Official creditors 332 1,034 2,516 4,438 4,959 5,111 4,989 5,085 5,598 6,292 Multilateral 53 279 1,846 3,197 3,563 3,682 3,663 3,724 4,085 4,658 Concessional 11 139 1,510 2,966 3,345 3,490 3,515 3,599 3,973 4,550 Bilateral 279 756 669 1,241 1,396 1,429 1,326 1,361 1,513 1,634 Concessional 235 637 567 1,077 1,239 1,294 1,199 1,033 1,203 1,328 Private creditors 178 121 224 584 656 580 498 556 533 511 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 12 0 10 183 171 132 114 182 195 213 Other private 166 121 214 401 485 448 385 375 338 298 Private nonguaranteed 10 10 33 267 263 260 257 255 253 1 Bonds 0 0 0 250 250 250 250 250 250 0 Commercial banks and other 10 10 33 17 13 10 7 5 3 1 Memo: IBRD 43 114 113 30 27 18 9 6 5 4 IDA 11 99 1,310 2,617 2,962 3,099 3,130 3,172 3,471 3,950 DISBURSEMENTS 42 220 438 649 602 396 394 574 248 313 Public and publicly guaranteed 42 220 430 649 602 396 394 574 248 313 Official creditors 39 220 379 441 438 329 349 362 227 290 Multilateral 4 50 274 291 293 254 223 261 158 274 Concessional 4 21 214 288 291 250 222 258 155 269 Bilateral 35 170 105 150 145 75 126 101 69 16 Concessional 35 93 95 116 125 66 97 66 36 16 Private creditors 3 0 51 208 164 67 45 212 21 24 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 9 25 25 12 24 92 21 24 Other private 3 0 42 183 139 54 21 119 0 0 Private nonguaranteed 0 0 8 0 0 0 0 0 0 0 Bonds 0 0 0 0 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 5 201 237 261 218 204 193 99 198 PRINCIPAL REPAYMENTS 14 77 144 230 248 268 272 150 95 384 Public and publicly guaranteed 14 77 136 226 244 265 269 148 93 132 Official creditors 9 35 64 106 137 150 169 93 51 57 Multilateral 2 4 29 52 53 61 68 65 30 31 Concessional 0 0 6 20 26 32 35 45 18 20 Bilateral 8 31 35 54 84 89 101 28 21 27 Concessional 7 14 33 31 55 64 72 17 17 21 Private creditors 5 42 71 120 106 115 100 55 42 74 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 22 17 38 40 43 33 20 6 24 Other private 5 20 54 81 66 72 67 35 36 50 Private nonguaranteed 0 0 8 4 4 3 3 2 2 252 Bonds 0 0 0 0 0 0 0 0 0 250 Commercial banks and other 0 0 8 4 4 3 3 2 2 2 Memo: IBRD 2 3 10 11 4 8 8 3 1 2 IDA 0 0 2 12 16 20 25 34 10 8 NET FLOWS ON DEBT 28 143 294 419 354 128 122 423 153 -70 Public and publicly guaranteed 28 143 294 423 358 131 125 425 155 182 Official creditors 29 185 314 335 300 179 180 269 176 232 Multilateral 3 47 245 239 240 194 155 196 128 243 Concessional 4 21 207 267 265 218 187 213 138 249 Bilateral 27 138 69 96 60 -14 25 73 48 -11 Concessional 27 79 62 85 70 2 25 49 20 -5 Private creditors -2 -42 -20 88 58 -48 -56 156 -21 -51 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -22 -7 -13 -16 -30 -9 72 15 -1 Other private -2 -20 -13 101 73 -18 -46 84 -36 -50 Private nonguaranteed 0 0 0 -4 -4 -3 -3 -2 -2 -252 Bonds 0 0 0 0 0 0 0 0 0 -250 Commercial banks and other 0 0 0 -4 -4 -3 -3 -2 -2 -2 Memo: IBRD -1 21 -10 -11 -4 -8 -8 -3 -1 -2 IDA 4 5 199 225 245 199 179 159 89 190 234 GHANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 12 31 57 126 152 136 116 70 74 73 Public and publicly guaranteed 12 31 55 111 137 122 102 55 60 73 Official creditors 7 24 43 78 89 79 74 42 42 55 Multilateral 3 10 30 40 38 39 39 33 34 32 Concessional 0 1 10 21 23 25 26 27 25 26 Bilateral 4 14 14 37 51 40 35 9 8 23 Concessional 3 10 11 21 40 32 24 6 7 16 Private creditors 5 7 12 33 48 42 28 14 17 18 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 2 11 15 13 6 4 3 7 Other private 5 4 10 22 33 29 22 9 14 11 Private nonguaranteed 0 0 2 15 15 14 14 14 14 0 Bonds 0 0 0 14 14 14 14 14 14 0 Commercial banks and other 0 0 2 1 1 1 1 0 0 0 Memo: IBRD 3 8 9 4 1 2 1 1 0 1 IDA 0 0 8 19 20 21 22 25 20 21 NET TRANSFERS ON DEBT 16 112 237 294 202 -8 6 354 79 -143 Public and publicly guaranteed 16 112 239 312 221 10 23 370 95 109 Official creditors 22 161 271 257 211 100 106 227 134 177 Multilateral 0 37 215 199 202 155 117 164 94 211 Concessional 4 20 197 246 242 193 161 186 113 223 Bilateral 22 124 56 58 9 -54 -10 63 40 -34 Concessional 24 69 50 64 30 -29 2 43 13 -21 Private creditors -7 -48 -32 55 10 -91 -83 143 -38 -69 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -24 -9 -24 -30 -44 -15 68 12 -8 Other private -7 -25 -23 80 40 -47 -69 75 -50 -61 Private nonguaranteed 0 0 -2 -19 -19 -17 -17 -16 -16 -252 Bonds 0 0 0 -14 -14 -14 -14 -14 -14 -250 Commercial banks and other 0 0 -2 -5 -5 -4 -4 -2 -2 -2 Memo: IBRD -4 13 -20 -15 -6 -10 -9 -4 -2 -2 IDA 4 4 191 207 225 178 157 134 69 169 DEBT SERVICE (LTDS) 26 108 201 355 400 404 388 220 169 457 Public and publicly guaranteed 26 108 191 336 381 387 371 204 153 205 Official creditors 16 59 108 184 226 229 243 135 93 112 Multilateral 4 14 59 92 91 100 106 98 64 62 Concessional 0 1 17 42 49 57 61 72 43 46 Bilateral 12 45 49 91 135 129 136 37 29 50 Concessional 11 24 45 52 95 96 96 23 23 37 Private creditors 10 48 83 153 155 157 128 69 59 92 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 24 18 49 55 56 39 24 9 32 Other private 10 25 65 103 99 101 89 45 50 61 Private nonguaranteed 0 0 10 19 19 17 17 16 16 252 Bonds 0 0 0 14 14 14 14 14 14 250 Commercial banks and other 0 0 10 5 5 4 4 2 2 2 Memo: IBRD 4 11 20 15 6 10 9 4 2 2 IDA 0 1 10 30 36 41 47 59 30 29 UNDISBURSED DEBT 76 431 1,705 1,552 1,256 1,325 1,281 1,274 1,037 1,188 Official creditors 76 431 1,591 1,366 1,159 1,139 945 1,090 901 1,059 Private creditors 0 0 113 186 97 186 336 184 136 129 Memorandum items Concessional LDOD 246 775 2,077 4,043 4,584 4,784 4,714 4,631 5,176 5,878 Variable rate LDOD 10 10 51 293 284 274 267 320 317 71 Public sector LDOD 510 1,128 2,739 5,022 5,615 5,691 5,487 5,641 6,131 6,804 Private sector LDOD 10 38 33 267 263 260 257 255 253 1 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 7.2 7.2 7.3 Deutsche mark 12.3 12.9 4.0 4.1 3.8 3.1 2.8 .. .. .. French franc 2.7 1.9 2.3 2.5 2.4 1.7 1.3 .. .. .. Japanese yen 0.0 0.1 5.2 11.2 13.3 15.5 15.0 13.1 12.6 12.4 Pound sterling 28.3 11.8 2.9 7.0 5.9 5.0 3.7 2.8 2.2 1.7 Swiss franc 0.0 0.0 0.7 0.2 0.2 0.1 0.1 0.1 0.1 0.1 U.S.dollars 22.5 38.6 59.6 58.7 59.4 60.9 64.0 66.4 67.2 67.4 Multiple currency 8.4 10.7 8.0 5.9 5.7 5.5 5.4 5.0 4.8 4.7 Special drawing rights 0.0 0.0 0.6 0.7 0.7 0.7 0.8 0.8 0.9 0.9 All other currencies 25.8 23.9 16.9 9.6 8.5 7.4 6.9 4.6 4.9 5.5 235 GHANA (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 0 199 74 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 143 54 25 Official .. .. 0 0 0 0 0 101 47 8 Private .. .. 0 0 0 0 0 42 7 17 Interest rescheduled .. .. 0 0 0 0 0 52 21 8 Official .. .. 0 0 0 0 0 40 19 3 Private .. .. 0 0 0 0 0 13 2 5 Debt forgiven .. .. 102 7 0 0 0 0 140 56 Memo: interest forgiven .. .. 0 0 0 0 0 0 27 9 Debt stock reduction .. .. 0 0 12 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 .. .. 476 -89 620 46 -354 110 605 618 Net flows on debt 5 75 341 275 369 105 -16 400 251 105 Net change in interest arrears .. .. 17 3 2 5 6 -8 3 3 Interest capitalized .. .. 0 0 0 0 0 52 21 8 Debt forgiveness or reduction .. .. -102 -7 -12 0 0 0 -140 -56 Cross-currency valuation .. .. 171 -568 -22 -103 -323 -256 414 527 Residual .. .. 49 209 284 40 -21 -78 56 31 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.0 1.4 3.0 2.5 4.0 2.5 3.7 1.5 0.8 1.1 Maturity (years) 36.7 44.1 32.1 28.6 28.0 29.1 23.0 39.3 44.8 42.2 Grace period (years) 9.7 9.7 8.4 7.3 6.9 7.6 5.9 10.8 9.3 9.1 Grant element (%) 66.8 74.4 58.2 54.7 45.6 57.3 43.6 73.9 76.7 76.7 Official creditors Interest (%) 1.8 1.4 2.0 1.4 2.5 2.6 1.4 0.8 0.8 1.1 Maturity (years) 38.6 44.1 35.9 38.8 35.7 30.5 34.7 41.1 45.5 42.2 Grace period (years) 10.2 9.7 9.4 10.1 8.8 8.1 8.9 11.9 9.4 9.1 Grant element (%) 70.2 74.4 67.8 73.2 60.8 59.9 69.8 81.3 77.4 76.7 Private creditors Interest (%) 5.3 0.0 8.1 4.6 7.0 2.1 6.2 7.0 2.2 0.0 Maturity (years) 8.4 0.0 11.4 8.4 12.5 25.8 10.1 25.6 19.9 0.0 Grace period (years) 1.4 0.0 2.9 1.9 3.1 6.5 2.7 2.2 6.2 0.0 Grant element (%) 16.3 0.0 6.2 18.0 14.6 51.0 14.6 18.6 54.2 0.0 Memorandum items Commitments 51 170 679 380 342 527 453 649 51 392 Official creditors 48 170 573 253 229 376 238 573 49 392 Private creditors 3 0 106 127 113 151 215 76 1 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 290 254 182 141 111 76 51 35 21 13 Principal 392 366 328 262 249 244 242 240 249 243 Interest 112 101 90 82 75 70 66 62 57 53 Official creditors Disbursements 220 215 166 136 111 76 51 35 21 13 Principal 272 278 257 207 216 217 220 218 230 229 Interest 88 82 76 71 68 64 61 57 54 50 Bilateral creditors Disbursements 36 30 19 11 7 5 3 2 2 1 Principal 172 172 144 89 91 87 88 77 77 67 Interest 43 37 32 28 26 24 22 19 17 15 Multilateral creditors Disbursements 184 185 147 125 104 71 48 32 20 13 Principal 100 106 113 118 125 130 132 141 153 162 Interest 45 45 44 43 42 40 39 38 36 35 Private creditors Disbursements 69 39 16 5 0 0 0 0 0 0 Principal 121 88 71 55 34 27 22 21 19 14 Interest 24 19 14 10 7 6 5 5 4 3 Commercial banks Disbursements 54 33 13 5 0 0 0 0 0 0 Principal 31 26 24 22 23 22 18 18 16 11 Interest 8 8 7 6 5 5 4 3 3 2 Other private Disbursements 16 6 3 0 0 0 0 0 0 0 Principal 89 62 47 33 11 6 4 4 3 3 Interest 16 11 7 4 2 2 1 1 1 1 236 GRENADA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 14.9 19.6 110.8 115.7 171.3 135.8 201.4 239.6 366.0 375.9 Long-term debt (LDOD) 14.9 15.8 97.9 107.7 107.2 112.1 179.8 183.9 294.1 299.1 Public and publicly guaranteed 14.9 15.8 97.9 107.7 107.2 112.1 179.8 183.9 294.1 299.1 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 2.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.4 Short-term debt 0.0 1.0 12.9 8.0 64.1 23.7 21.6 55.7 71.9 72.5 of which interest arrears on LDOD 0.0 0.0 6.9 1.0 1.6 2.5 4.5 4.7 4.9 6.5 Official creditors 0.0 0.0 6.5 1.0 1.6 2.5 1.6 2.9 2.8 3.7 Private creditors 0.0 0.0 0.3 0.0 0.0 0.1 2.9 1.8 2.1 2.8 Memo: principal arrears on LDOD 0.0 0.0 17.0 7.7 8.0 10.1 10.6 8.2 7.0 6.1 Official creditors 0.0 0.0 15.4 7.3 7.6 8.9 7.3 7.4 7.0 5.9 Private creditors 0.0 0.0 1.5 0.4 0.4 1.2 3.2 0.8 0.0 0.2 TOTAL DEBT FLOWS Disbursements 5.8 1.7 14.8 14.3 6.2 13.7 77.6 21.9 115.9 23.9 Long-term debt 5.8 1.0 14.8 14.3 6.2 13.7 77.6 21.9 115.9 19.8 IMF purchases 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.1 Principal repayments 0.0 1.6 1.7 5.0 7.5 7.4 10.0 9.9 12.4 11.6 Long-term debt 0.0 0.9 1.3 5.0 7.5 7.4 10.0 9.9 12.4 11.6 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 2.5 54.2 -35.1 63.4 45.9 119.6 11.3 of which short-term debt 0.0 -1.0 0.0 -6.7 55.5 -41.4 -4.1 33.9 16.1 -1.0 Interest payments (INT) 0.3 0.8 1.6 2.3 3.8 4.4 4.4 7.3 16.0 19.3 Long-term debt 0.3 0.5 1.2 1.8 2.1 2.2 3.4 6.0 14.9 18.4 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 0.5 1.7 2.3 1.0 1.2 1.1 0.8 Net transfers on debt 5.6 -1.7 11.5 0.3 50.4 -39.5 59.0 38.6 103.7 -8.0 Total debt service paid (TDS) 0.3 2.3 3.3 7.3 11.4 11.8 14.4 17.2 28.4 30.8 Long-term debt 0.3 1.3 2.4 6.8 9.6 9.6 13.5 16.0 27.3 30.0 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 0.5 1.7 2.3 1.0 1.2 1.1 0.8 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5.8 1.1 30.7 46.9 51.4 49.8 112.0 74.4 163.7 16.6 Net flow of long-term debt (ex. IMF) 5.8 0.1 13.5 9.2 -1.3 6.3 67.5 12.0 103.5 8.2 Foreign direct investment (net) 0.0 0.0 12.9 33.5 48.7 41.6 37.4 58.7 57.6 0.0 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 4.1 4.0 1.9 7.1 3.7 2.6 8.4 Memo: technical coop. grants 0.0 0.8 2.8 3.3 3.4 1.6 4.7 1.6 1.9 1.3 official net resource flows 0.3 1.7 17.4 14.0 2.3 7.4 20.5 19.4 6.6 12.8 private net resource flows 5.6 -0.6 13.2 32.9 49.1 42.4 91.5 55.0 157.1 3.8 NET TRANSFERS 5.6 0.5 21.1 29.5 29.5 26.7 80.7 34.8 116.6 -43.7 Interest on long-term debt 0.3 0.5 1.2 1.8 2.1 2.2 3.4 6.0 14.9 18.4 Profit remittances on FDI 0.0 0.2 8.4 15.6 19.8 20.9 27.8 33.6 32.2 41.9 Memo: official net transfers 0.3 1.4 16.4 12.2 0.3 5.3 18.2 16.8 1.8 9.1 private net transfers 5.3 -0.9 4.7 17.2 29.3 21.4 62.5 18.0 114.8 -52.9 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 208.9 288.7 317.7 352.1 372.3 371.9 374.9 388.2 Exports of goods, serv. & inc. (XGS) .. 39.1 105.5 143.6 169.9 222.3 240.8 200.7 179.2 171.4 Worker remit. & comp. of employees 0.0 0.0 18.0 20.0 20.0 21.0 22.0 22.0 23.0 23.0 Imports of goods & services (MGS) .. 63.1 153.2 233.0 280.5 294.6 345.2 320.9 318.5 354.6 International reserves (RES) 5.3 12.9 17.6 42.7 46.8 50.8 57.7 63.9 87.8 83.2 Current account balance .. 0.3 -46.2 -67.9 -81.5 -53.0 -84.3 -98.5 -116.2 -156.8 4. DEBT INDICATORS EDT / XGS (%) .. 50.2 105.0 80.5 100.8 61.1 83.6 119.4 204.3 219.4 EDT / GNI (%) .. .. 53.0 40.1 53.9 38.6 54.1 64.4 97.6 96.8 TDS / XGS (%) .. 6.0 3.1 5.1 6.7 5.3 6.0 8.6 15.8 18.0 INT / XGS (%) .. 2.0 1.5 1.6 2.2 2.0 1.8 3.6 8.9 11.2 INT / GNI (%) .. .. 0.7 0.8 1.2 1.3 1.2 2.0 4.3 5.0 RES / EDT (%) 35.6 65.8 15.9 36.9 27.3 37.4 28.6 26.7 24.0 22.1 RES / MGS (months) .. 2.5 1.4 2.2 2.0 2.1 2.0 2.4 3.3 2.8 Short-term / EDT (%) 0.0 5.1 11.6 6.9 37.4 17.4 10.7 23.2 19.7 19.3 Concessional / EDT (%) 31.8 60.6 70.1 72.9 48.6 64.0 47.0 42.2 29.4 28.7 Multilateral / EDT (%) 0.0 29.2 35.7 45.8 31.0 40.9 31.4 27.9 20.9 22.5 237 GRENADA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 14.9 15.8 97.9 107.7 107.2 112.1 179.8 183.9 294.1 299.1 Public and publicly guaranteed 14.9 15.8 97.9 107.7 107.2 112.1 179.8 183.9 294.1 299.1 Official creditors 5.0 13.3 95.0 101.7 100.8 105.1 116.8 125.0 131.5 132.5 Multilateral 0.0 5.7 39.5 52.9 53.1 55.5 63.3 66.7 76.4 84.4 Concessional 0.0 4.7 36.6 46.5 46.6 48.8 53.1 53.5 62.1 67.3 Bilateral 5.0 7.5 55.4 48.8 47.6 49.6 53.5 58.2 55.0 48.1 Concessional 4.8 7.2 41.0 37.9 36.6 38.1 41.7 47.6 45.5 40.5 Private creditors 10.0 2.6 2.9 6.0 6.4 7.0 63.0 58.9 162.6 166.6 Bonds 10.0 2.1 0.0 0.0 0.0 0.0 0.0 0.0 100.0 100.0 Commercial banks 0.0 0.0 0.7 0.0 0.0 2.5 58.8 56.2 57.8 63.0 Other private 0.0 0.5 2.2 6.0 6.4 4.5 4.2 2.7 4.8 3.6 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 0.4 2.2 3.4 4.2 6.4 IDA 0.0 0.0 5.5 7.1 8.2 9.3 9.6 9.2 16.2 19.3 DISBURSEMENTS 5.8 1.0 14.8 14.3 6.2 13.7 77.6 21.9 115.9 19.8 Public and publicly guaranteed 5.8 1.0 14.8 14.3 6.2 13.7 77.6 21.9 115.9 19.8 Official creditors 0.3 1.0 14.3 14.3 3.8 11.2 19.8 21.9 12.1 12.2 Multilateral 0.0 1.0 2.9 4.2 2.7 5.7 11.7 7.4 12.0 12.1 Concessional 0.0 0.0 2.9 3.4 2.1 4.7 7.0 3.5 10.2 8.9 Bilateral 0.3 0.0 11.4 10.1 1.1 5.5 8.1 14.6 0.1 0.1 Concessional 0.1 0.0 11.2 2.1 0.9 4.4 7.2 14.4 0.1 0.1 Private creditors 5.6 0.0 0.5 0.0 2.5 2.5 57.8 0.0 103.8 7.6 Bonds 5.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 0.0 Commercial banks 0.0 0.0 0.0 0.0 0.0 2.5 56.6 0.0 3.8 7.6 Other private 0.0 0.0 0.5 0.0 2.5 0.0 1.2 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 0.4 1.9 1.1 0.8 2.2 IDA 0.0 0.0 1.0 0.3 0.9 1.4 0.8 0.1 6.1 1.6 PRINCIPAL REPAYMENTS 0.0 0.9 1.3 5.0 7.5 7.4 10.0 9.9 12.4 11.6 Public and publicly guaranteed 0.0 0.9 1.3 5.0 7.5 7.4 10.0 9.9 12.4 11.6 Official creditors 0.0 0.3 1.1 4.4 5.5 5.7 6.3 6.2 8.1 7.7 Multilateral 0.0 0.0 1.0 2.4 2.9 3.0 3.2 3.1 3.6 3.3 Concessional 0.0 0.0 0.8 2.0 2.3 2.2 2.1 2.2 2.8 2.1 Bilateral 0.0 0.3 0.1 2.0 2.6 2.7 3.2 3.1 4.5 4.4 Concessional 0.0 0.2 0.0 1.7 2.4 2.2 2.6 1.9 3.3 2.2 Private creditors 0.0 0.6 0.2 0.6 2.1 1.7 3.7 3.7 4.3 3.8 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 2.4 2.6 2.3 2.4 Other private 0.0 0.0 0.1 0.5 2.1 1.7 1.3 1.1 2.1 1.4 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 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 9.2 -1.3 6.3 67.5 12.0 103.5 8.2 Public and publicly guaranteed 5.8 0.1 13.5 9.2 -1.3 6.3 67.5 12.0 103.5 8.2 Official creditors 0.3 0.7 13.2 9.9 -1.7 5.5 13.5 15.7 4.0 4.4 Multilateral 0.0 1.0 1.8 1.7 -0.2 2.7 8.5 4.3 8.4 8.8 Concessional 0.0 0.0 2.0 1.4 -0.2 2.5 4.9 1.2 7.4 6.8 Bilateral 0.3 -0.3 11.4 8.1 -1.5 2.8 4.9 11.4 -4.4 -4.3 Concessional 0.1 -0.2 11.2 0.4 -1.5 2.2 4.7 12.5 -3.1 -2.1 Private creditors 5.6 -0.6 0.3 -0.6 0.4 0.8 54.1 -3.7 99.5 3.8 Bonds 5.6 -0.6 0.0 0.0 0.0 0.0 0.0 0.0 100.0 0.0 Commercial banks 0.0 0.0 -0.1 -0.1 0.0 2.5 54.2 -2.6 1.6 5.2 Other private 0.0 0.0 0.4 -0.5 0.4 -1.7 -0.2 -1.1 -2.1 -1.4 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 0.4 1.9 1.1 0.8 2.2 IDA 0.0 0.0 1.0 0.3 0.9 1.3 0.7 0.0 6.0 1.5 238 GRENADA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.3 0.5 1.2 1.8 2.1 2.2 3.4 6.0 14.9 18.4 Public and publicly guaranteed 0.3 0.5 1.2 1.8 2.1 2.2 3.4 6.0 14.9 18.4 Official creditors 0.0 0.3 1.0 1.8 2.1 2.1 2.3 2.6 4.8 3.7 Multilateral 0.0 0.2 1.0 1.2 1.5 1.6 1.1 1.6 1.9 2.1 Concessional 0.0 0.2 1.0 1.2 1.2 1.3 0.8 1.0 1.3 1.2 Bilateral 0.0 0.1 0.0 0.5 0.6 0.5 1.3 1.0 2.9 1.6 Concessional 0.0 0.0 0.0 0.5 0.5 0.4 0.8 0.6 2.4 1.2 Private creditors 0.3 0.2 0.2 0.0 0.0 0.1 1.1 3.4 10.1 14.7 Bonds 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 4.5 9.4 Commercial banks 0.0 0.0 0.2 0.0 0.0 0.0 1.1 3.3 5.5 5.3 Other private 0.0 0.0 0.0 0.0 0.0 0.1 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 0.2 0.2 0.3 IDA 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.1 NET TRANSFERS ON DEBT 5.6 -0.3 12.4 7.4 -3.4 4.1 64.1 6.0 88.6 -10.2 Public and publicly guaranteed 5.6 -0.3 12.4 7.4 -3.4 4.1 64.1 6.0 88.6 -10.2 Official creditors 0.3 0.4 12.2 8.1 -3.8 3.4 11.1 13.1 -0.8 0.8 Multilateral 0.0 0.8 0.8 0.5 -1.7 1.1 7.4 2.6 6.5 6.7 Concessional 0.0 -0.2 1.1 0.2 -1.4 1.2 4.1 0.2 6.1 5.6 Bilateral 0.3 -0.4 11.3 7.6 -2.1 2.3 3.7 10.4 -7.3 -5.9 Concessional 0.1 -0.2 11.2 -0.1 -2.0 1.8 3.9 11.9 -5.5 -3.3 Private creditors 5.3 -0.7 0.2 -0.7 0.4 0.7 52.9 -7.1 89.4 -11.0 Bonds 5.3 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 95.5 -9.4 Commercial banks 0.0 0.0 -0.3 -0.2 0.0 2.5 53.1 -5.9 -4.0 -0.2 Other private 0.0 0.0 0.4 -0.5 0.4 -1.8 -0.2 -1.2 -2.2 -1.4 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 0.4 1.8 0.9 0.5 1.9 IDA 0.0 0.0 0.9 0.2 0.8 1.3 0.6 0.0 5.9 1.4 DEBT SERVICE (LTDS) 0.3 1.3 2.4 6.8 9.6 9.6 13.5 16.0 27.3 30.0 Public and publicly guaranteed 0.3 1.3 2.4 6.8 9.6 9.6 13.5 16.0 27.3 30.0 Official creditors 0.0 0.6 2.1 6.2 7.5 7.8 8.7 8.9 12.9 11.4 Multilateral 0.0 0.2 2.0 3.7 4.4 4.6 4.2 4.7 5.5 5.4 Concessional 0.0 0.2 1.8 3.2 3.5 3.5 2.9 3.2 4.1 3.4 Bilateral 0.0 0.4 0.1 2.5 3.2 3.2 4.4 4.1 7.4 6.0 Concessional 0.0 0.2 0.0 2.2 2.9 2.7 3.4 2.5 5.6 3.4 Private creditors 0.3 0.7 0.3 0.7 2.1 1.8 4.8 7.1 14.4 18.6 Bonds 0.3 0.7 0.0 0.0 0.0 0.0 0.0 0.0 4.5 9.4 Commercial banks 0.0 0.0 0.3 0.2 0.0 0.0 3.5 5.9 7.8 7.7 Other private 0.0 0.0 0.1 0.5 2.1 1.8 1.3 1.2 2.2 1.4 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 0.2 0.2 0.3 IDA 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.1 0.1 0.2 UNDISBURSED DEBT 2.0 7.3 24.5 26.5 40.7 28.0 46.6 33.1 59.7 69.4 Official creditors 2.0 7.3 24.5 22.8 37.4 26.9 46.6 30.8 51.2 67.9 Private creditors 0.0 0.0 0.0 3.7 3.3 1.2 0.0 2.3 8.4 1.4 Memorandum items Concessional LDOD 4.8 11.9 77.6 84.3 83.2 86.9 94.7 101.1 107.6 107.8 Variable rate LDOD 0.0 0.0 13.4 0.0 0.0 2.9 4.5 5.1 6.1 7.6 Public sector LDOD 14.9 15.8 97.9 107.7 107.2 112.1 179.8 183.9 294.1 299.1 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 .. .. .. .. .. .. .. 1.4 0.8 1.0 Deutsche mark 0.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc 0.0 0.0 0.0 1.7 1.8 1.5 0.7 .. .. .. Japanese yen 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 100.0 56.1 34.5 19.2 16.5 13.1 6.3 1.9 2.0 0.6 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 69.8 72.0 72.4 78.7 81.2 87.5 88.9 Multiple currency 0.0 0.0 0.0 0.0 0.1 0.6 2.0 3.2 2.4 2.3 Special drawing rights 0.0 0.0 2.8 2.0 2.1 2.2 1.9 1.5 0.9 1.2 All other currencies 0.0 4.5 5.5 7.3 7.6 10.2 10.3 10.8 6.4 5.9 239 GRENADA (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 0.0 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 1.4 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 6.0 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 -24.0 55.6 -35.5 65.7 38.2 126.4 9.9 Net flows on debt 5.8 -0.9 13.1 2.5 54.2 -35.1 63.4 45.9 119.6 11.3 Net change in interest arrears .. .. 2.3 -6.1 0.6 1.0 2.0 0.2 0.2 1.6 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 -7.4 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 6.3 -2.4 0.8 -1.4 -2.0 -1.1 2.6 3.3 Residual .. .. 0.1 -10.6 0.0 0.0 2.2 -6.8 4.1 -6.3 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.4 1.6 4.6 4.9 4.4 6.9 4.5 1.9 3.4 3.5 Maturity (years) 12.7 14.3 16.6 13.2 20.9 5.7 18.0 19.0 13.0 20.9 Grace period (years) 12.7 4.6 2.4 0.5 5.6 1.2 7.2 3.0 9.3 5.8 Grant element (%) 17.0 43.8 29.7 22.4 36.9 8.1 35.7 46.4 42.2 43.6 Official creditors Interest (%) 0.0 1.6 4.6 4.7 4.4 0.0 3.8 0.9 3.3 3.5 Maturity (years) 29.5 14.3 16.6 14.4 20.9 0.0 24.4 23.6 24.1 21.2 Grace period (years) 29.5 4.6 2.4 0.3 5.6 0.0 7.2 3.6 7.2 5.7 Grant element (%) 94.0 43.8 29.7 24.3 36.9 0.0 45.8 57.9 48.8 44.2 Private creditors Interest (%) 7.5 0.0 0.0 5.3 0.0 6.9 5.0 5.0 3.4 7.6 Maturity (years) 12.5 0.0 0.0 10.5 0.0 5.7 13.4 5.6 9.9 10.0 Grace period (years) 12.5 0.0 0.0 1.0 0.0 1.2 7.2 1.1 9.9 10.0 Grant element (%) 16.1 0.0 0.0 18.2 0.0 8.1 28.4 13.1 40.3 14.9 Memorandum items Commitments 6 7 16 12 18 2 97 9 141 26 Official creditors 0 7 16 8 18 0 41 7 31 25 Private creditors 6 0 0 4 0 2 57 2 110 1 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 15.7 15.8 11.5 8.8 6.3 4.3 2.8 2.0 1.0 0.6 Principal 17.4 14.2 12.4 12.6 13.4 13.3 13.3 13.2 121.3 9.7 Interest 10.9 10.7 10.6 10.3 10.0 9.6 9.1 8.6 6.7 4.1 Official creditors Disbursements 15.0 15.3 11.3 8.7 6.3 4.3 2.8 2.0 1.0 0.6 Principal 11.7 9.6 8.6 8.9 10.3 10.4 10.4 10.2 10.0 9.7 Interest 4.4 4.5 4.5 4.4 4.3 4.0 3.7 3.4 3.0 2.7 Bilateral creditors Disbursements 2.0 2.8 1.9 1.3 0.7 0.4 0.2 0.1 0.0 0.0 Principal 6.1 4.5 3.2 3.2 3.7 3.6 3.6 3.5 3.1 2.8 Interest 1.8 1.6 1.5 1.4 1.3 1.2 1.0 0.9 0.7 0.6 Multilateral creditors Disbursements 13.0 12.5 9.5 7.4 5.5 3.9 2.5 1.9 1.0 0.6 Principal 5.6 5.1 5.4 5.7 6.6 6.7 6.7 6.8 6.9 7.0 Interest 2.6 2.9 3.0 3.0 3.0 2.8 2.7 2.5 2.3 2.1 Private creditors Disbursements 0.7 0.5 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Principal 5.7 4.5 3.9 3.7 3.2 3.0 3.0 3.0 111.3 0.0 Interest 6.4 6.3 6.1 5.9 5.7 5.6 5.4 5.3 3.6 1.3 Commercial banks Disbursements 0.7 0.5 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Principal 4.0 3.7 3.5 3.3 3.0 3.0 3.0 3.0 11.3 0.0 Interest 3.4 3.2 3.0 2.9 2.7 2.6 2.4 2.3 2.1 1.3 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.7 0.8 0.4 0.4 0.2 0.0 0.0 0.0 100.0 0.0 Interest 3.1 3.1 3.0 3.0 3.0 3.0 3.0 3.0 1.5 0.0 240 GUATEMALA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 159 1,180 3,080 3,876 4,074 4,209 4,265 4,528 4,676 4,981 Long-term debt (LDOD) 120 845 2,605 2,975 3,174 3,300 3,323 3,579 3,744 3,724 Public and publicly guaranteed 106 563 2,478 2,872 2,992 3,138 3,182 3,458 3,641 3,639 Private nonguaranteed 14 282 127 103 182 162 142 121 102 86 Use of IMF credit 0 0 67 0 0 0 0 0 0 0 Short-term debt 39 335 409 901 900 910 942 949 932 1,257 of which interest arrears on LDOD 0 0 202 96 88 89 87 84 87 88 Official creditors 0 0 47 34 26 27 26 22 26 27 Private creditors 0 0 155 61 61 61 61 61 61 61 Memo: principal arrears on LDOD 0 0 308 523 512 506 504 492 492 492 Official creditors 0 0 102 173 163 157 151 139 143 143 Private creditors 0 0 206 349 349 349 354 352 349 349 Memo: export credits 0 0 545 526 333 268 258 160 172 192 TOTAL DEBT FLOWS Disbursements 43 173 165 361 268 334 239 204 337 185 Long-term debt 43 173 165 361 268 334 239 204 337 185 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 30 78 102 201 195 197 196 216 220 295 Long-term debt 22 78 90 201 195 197 196 216 220 295 IMF repurchases 8 0 12 0 0 0 0 0 0 0 Net flows on debt 13 130 67 170 80 146 77 -2 97 214 of which short-term debt 0 34 4 10 7 9 34 10 -20 324 Interest payments (INT) 7 67 111 152 183 191 212 220 185 175 Long-term debt 7 60 88 106 137 141 162 172 151 145 IMF charges 0 0 7 0 0 0 0 0 0 0 Short-term debt 0 8 16 46 46 50 50 49 34 30 Net transfers on debt 6 62 -45 18 -103 -45 -135 -223 -88 39 Total debt service paid (TDS) 37 145 214 353 378 388 408 436 405 470 Long-term debt 29 137 179 307 332 338 358 388 371 440 IMF repurchases and charges 8 0 19 0 0 0 0 0 0 0 Short-term debt (interest only) 0 8 16 46 46 50 50 49 34 30 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 53 221 191 400 898 478 418 577 380 155 Net flow of long-term debt (ex. IMF) 21 96 75 160 73 137 43 -12 117 -110 Foreign direct investment (net) 29 111 48 84 673 155 230 456 111 116 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 2 14 69 156 152 187 146 134 152 150 Memo: technical coop. grants 9 18 87 101 90 84 88 122 126 127 official net resource flows 9 130 148 240 277 377 241 174 319 88 private net resource flows 44 91 44 160 621 101 178 403 61 68 NET TRANSFERS 46 117 66 130 632 187 8 200 -57 -308 Interest on long-term debt 7 60 88 106 137 141 162 172 151 145 Profit remittances on FDI 0 44 37 164 130 150 248 205 287 319 Memo: official net transfers 6 101 95 153 179 270 120 30 189 -39 private net transfers 39 17 -29 -23 453 -83 -112 170 -246 -269 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,866 7,834 7,494 17,560 19,224 18,135 19,081 20,871 22,975 24,380 Exports of goods, serv. & inc. (XGS) .. 1,834 1,695 3,672 4,035 4,022 4,640 4,814 5,705 6,392 Worker remit. & comp. of employees 0 26 119 408 457 466 596 634 1,600 2,147 Imports of goods & services (MGS) .. 2,107 2,028 4,504 5,323 5,297 5,991 6,472 7,337 7,799 International reserves (RES) 79 753 362 1,173 1,397 1,252 1,806 2,352 2,373 2,925 Current account balance .. -163 -213 -634 -1,039 -1,026 -1,050 -1,253 -1,235 -1,051 4. DEBT INDICATORS EDT / XGS (%) .. 64.3 181.7 105.5 101.0 104.7 91.9 94.0 82.0 77.9 EDT / GNI (%) 8.5 15.1 41.1 22.1 21.2 23.2 22.4 21.7 20.4 20.4 TDS / XGS (%) .. 7.9 12.6 9.6 9.4 9.6 8.8 9.1 7.1 7.4 INT / XGS (%) .. 3.7 6.6 4.1 4.5 4.7 4.6 4.6 3.2 2.7 INT / GNI (%) 0.4 0.9 1.5 0.9 1.0 1.1 1.1 1.1 0.8 0.7 RES / EDT (%) 49.9 63.8 11.7 30.3 34.3 29.7 42.3 52.0 50.8 58.7 RES / MGS (months) .. 4.3 2.1 3.1 3.1 2.8 3.6 4.4 3.9 4.5 Short-term / EDT (%) 24.5 28.4 13.3 23.2 22.1 21.6 22.1 21.0 19.9 25.2 Concessional / EDT (%) 21.2 21.1 22.5 33.2 32.5 31.7 31.7 32.1 31.0 28.7 Multilateral / EDT (%) 20.7 30.9 33.7 27.7 29.9 34.1 35.6 38.3 41.9 40.7 241 GUATEMALA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 120 845 2,605 2,975 3,174 3,300 3,323 3,579 3,744 3,724 Public and publicly guaranteed 106 563 2,478 2,872 2,992 3,138 3,182 3,458 3,641 3,639 Official creditors 54 548 1,702 2,173 2,330 2,510 2,586 2,895 3,111 3,139 Multilateral 33 364 1,039 1,074 1,217 1,434 1,519 1,733 1,960 2,030 Concessional 13 153 335 384 389 419 429 439 439 456 Bilateral 21 183 663 1,099 1,112 1,076 1,068 1,162 1,150 1,109 Concessional 21 96 359 903 936 916 922 1,015 1,010 976 Private creditors 52 15 776 699 662 628 595 563 531 500 Bonds 14 0 190 337 307 276 245 215 182 150 Commercial banks 36 14 166 116 114 111 111 111 111 111 Other private 3 1 420 245 242 241 239 237 238 238 Private nonguaranteed 14 282 127 103 182 162 142 121 102 86 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 14 282 127 103 182 162 142 121 102 86 Memo: IBRD 14 144 293 188 203 258 296 330 400 428 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 43 173 165 361 268 334 239 204 337 185 Public and publicly guaranteed 37 141 158 361 268 334 239 204 337 185 Official creditors 12 128 128 211 267 333 239 204 337 184 Multilateral 9 80 68 136 202 292 172 188 326 166 Concessional 5 35 20 20 19 38 24 20 16 8 Bilateral 2 48 59 74 65 42 67 15 11 18 Concessional 2 23 54 56 63 41 67 15 11 18 Private creditors 25 13 30 150 1 1 0 0 0 0 Bonds 0 0 0 150 0 0 0 0 0 0 Commercial banks 25 13 14 0 0 0 0 0 0 0 Other private 0 0 16 0 1 1 0 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 16 28 70 51 46 83 45 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 22 78 90 201 195 197 196 216 220 295 Public and publicly guaranteed 20 15 87 183 180 177 176 196 201 278 Official creditors 5 12 49 127 142 143 144 164 171 246 Multilateral 3 12 28 71 74 82 81 102 112 142 Concessional 0 1 6 14 15 15 17 19 20 28 Bilateral 2 1 21 56 68 61 62 61 59 104 Concessional 2 1 2 25 45 47 50 48 50 94 Private creditors 15 3 39 56 38 34 32 32 31 32 Bonds 8 0 11 44 31 31 31 31 31 32 Commercial banks 6 1 24 8 3 2 0 0 0 0 Other private 1 2 4 4 5 1 2 2 0 0 Private nonguaranteed 2 62 3 18 15 20 20 20 19 17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 62 3 18 15 20 20 20 19 17 Memo: IBRD 2 4 5 12 14 15 13 12 13 18 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 21 96 75 160 73 137 43 -12 117 -110 Public and publicly guaranteed 17 126 71 178 88 157 63 8 136 -94 Official creditors 7 116 79 84 125 191 95 40 167 -62 Multilateral 6 69 40 66 128 210 91 86 214 24 Concessional 5 33 14 6 4 23 7 0 -4 -20 Bilateral 1 47 38 19 -3 -20 4 -46 -47 -86 Concessional 1 23 52 31 18 -6 17 -33 -38 -76 Private creditors 10 10 -8 94 -37 -33 -32 -32 -31 -32 Bonds -8 0 -11 106 -31 -31 -31 -31 -31 -32 Commercial banks 19 11 -10 -8 -3 -2 0 0 0 0 Other private -1 -2 12 -4 -4 0 -2 -2 0 0 Private nonguaranteed 4 -30 4 -18 -15 -20 -20 -20 -19 -17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 -30 4 -18 -15 -20 -20 -20 -19 -17 Memo: IBRD 2 35 11 4 14 55 38 35 70 27 IDA 0 0 0 0 0 0 0 0 0 0 242 GUATEMALA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 7 60 88 106 137 141 162 172 151 145 Public and publicly guaranteed 6 30 78 103 126 132 143 164 146 141 Official creditors 3 29 52 88 98 107 121 144 130 127 Multilateral 2 20 33 56 60 73 87 104 98 95 Concessional 0 3 4 7 8 8 9 9 9 10 Bilateral 1 9 19 32 38 34 33 40 32 32 Concessional 1 3 4 25 28 29 29 34 29 30 Private creditors 4 0 26 15 28 25 23 20 16 14 Bonds 1 0 18 13 27 24 22 20 16 14 Commercial banks 2 0 5 1 0 0 0 0 0 0 Other private 0 0 3 1 1 0 0 0 0 0 Private nonguaranteed 1 30 10 4 11 9 19 8 5 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 30 10 4 11 9 19 8 5 4 Memo: IBRD 1 11 3 14 12 16 21 22 22 19 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 14 36 -13 53 -63 -4 -119 -184 -34 -255 Public and publicly guaranteed 11 96 -8 75 -38 25 -80 -156 -10 -235 Official creditors 4 86 26 -3 27 83 -25 -104 37 -189 Multilateral 5 48 7 10 68 137 3 -18 116 -70 Concessional 4 31 10 -1 -4 15 -2 -9 -13 -30 Bilateral 0 38 19 -13 -41 -54 -29 -86 -79 -118 Concessional 0 19 49 6 -10 -35 -13 -67 -67 -106 Private creditors 6 10 -34 79 -65 -58 -55 -52 -46 -46 Bonds -10 0 -28 93 -58 -55 -53 -50 -46 -46 Commercial banks 17 11 -15 -9 -3 -3 0 0 0 0 Other private -1 -2 9 -5 -5 -1 -2 -2 0 0 Private nonguaranteed 3 -60 -6 -22 -25 -29 -39 -28 -24 -20 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 -60 -6 -22 -25 -29 -39 -28 -24 -20 Memo: IBRD 1 24 8 -10 2 40 17 12 47 8 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 29 137 179 307 332 338 358 388 371 440 Public and publicly guaranteed 26 45 166 285 306 309 319 360 347 419 Official creditors 7 42 101 214 240 250 264 308 301 373 Multilateral 4 32 61 126 133 155 168 207 210 237 Concessional 0 4 10 21 23 23 26 29 29 38 Bilateral 3 10 40 88 106 95 96 101 91 137 Concessional 3 4 6 50 73 76 79 82 79 124 Private creditors 19 3 64 71 66 59 55 52 46 46 Bonds 10 0 28 57 58 55 53 50 46 46 Commercial banks 8 1 29 9 3 3 0 0 0 0 Other private 1 2 7 5 6 1 2 2 0 0 Private nonguaranteed 3 92 13 22 25 29 39 28 24 20 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 92 13 22 25 29 39 28 24 20 Memo: IBRD 3 15 9 26 26 30 34 34 36 36 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 69 507 827 672 840 1,055 895 855 1,173 1,136 Official creditors 59 397 766 671 839 1,055 895 855 1,165 1,128 Private creditors 10 110 61 2 1 0 0 0 8 8 Memorandum items Concessional LDOD 34 249 694 1,287 1,325 1,335 1,351 1,454 1,449 1,431 Variable rate LDOD 25 296 409 702 875 1,011 1,045 1,167 1,377 1,418 Public sector LDOD 106 563 2,475 2,872 2,992 3,138 3,182 3,458 3,641 3,639 Private sector LDOD 15 282 130 103 182 162 142 121 102 86 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 3.9 4.1 4.6 Deutsche mark 0.0 0.0 1.6 3.0 3.4 2.9 2.8 .. .. .. French franc 0.0 0.0 0.7 1.7 1.7 1.5 1.4 .. .. .. Japanese yen 0.0 0.0 0.0 2.4 2.5 2.6 2.3 3.9 4.1 4.7 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 0.3 0.3 0.2 0.1 0.1 0.1 0.1 U.S.dollars 76.2 19.3 56.1 65.6 73.0 75.6 78.5 79.4 80.4 79.2 Multiple currency 23.8 80.6 41.1 26.9 19.1 17.1 14.8 12.3 11.0 11.1 Special drawing rights 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.4 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 0.0 243 GUATEMALA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 .. .. 430 103 198 136 56 262 148 306 Net flows on debt 13 130 67 170 80 146 77 -2 97 214 Net change in interest arrears .. .. 81 -5 -8 1 -2 -3 3 1 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 -72 23 -14 -29 -27 49 56 Residual .. .. 239 10 103 3 10 295 -2 35 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.5 7.9 5.9 7.2 6.1 6.7 7.2 6.8 4.5 6.2 Maturity (years) 25.8 15.5 17.8 15.6 19.2 21.3 19.2 22.5 19.6 19.8 Grace period (years) 6.3 3.9 4.7 6.7 4.5 4.4 4.7 4.3 5.0 4.2 Grant element (%) 36.0 10.9 27.2 17.2 24.5 22.3 17.3 20.8 35.2 23.5 Official creditors Interest (%) 3.0 7.3 4.9 6.5 6.1 6.7 7.2 6.8 4.5 6.2 Maturity (years) 39.4 17.7 22.6 18.6 19.2 21.3 19.2 22.5 19.6 19.8 Grace period (years) 10.6 3.5 6.2 5.0 4.5 4.4 4.7 4.3 5.0 4.2 Grant element (%) 61.0 14.3 36.1 21.3 24.5 22.3 17.3 20.8 35.1 23.5 Private creditors Interest (%) 8.5 8.5 8.8 8.5 0.0 0.0 0.0 0.0 3.5 0.0 Maturity (years) 9.7 13.2 4.0 10.0 0.0 0.0 0.0 0.0 19.5 0.0 Grace period (years) 1.2 4.2 0.5 10.0 0.0 0.0 0.0 0.0 5.0 0.0 Grant element (%) 6.6 7.5 1.7 9.2 0.0 0.0 0.0 0.0 42.4 0.0 Memorandum items Commitments 50 247 146 441 441 554 87 201 672 152 Official creditors 27 124 108 291 441 554 87 201 664 152 Private creditors 23 123 38 150 0 0 0 0 8 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 430 283 183 114 60 36 18 7 5 2 Principal 319 308 310 456 326 315 291 264 237 182 Interest 155 154 148 139 114 100 87 75 64 55 Official creditors Disbursements 426 280 182 113 60 36 18 7 5 2 Principal 303 293 296 293 316 305 282 264 237 182 Interest 138 139 133 124 113 99 86 75 64 55 Bilateral creditors Disbursements 31 22 13 7 4 3 2 1 1 0 Principal 102 104 100 97 85 80 75 71 64 28 Interest 30 27 24 21 18 15 13 11 8 7 Multilateral creditors Disbursements 395 258 169 106 56 33 16 6 4 2 Principal 201 189 195 196 231 225 207 193 172 154 Interest 109 112 110 104 95 84 73 64 56 49 Private creditors Disbursements 4 3 1 0 0 0 0 0 0 0 Principal 16 15 14 163 11 10 9 1 1 1 Interest 16 16 15 14 1 1 0 0 0 0 Commercial banks Disbursements 4 3 1 0 0 0 0 0 0 0 Principal 0 0 0 0 1 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 16 15 14 163 10 10 9 0 0 0 Interest 16 15 15 14 1 0 0 0 0 0 244 GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 328 1,133 2,476 3,519 3,546 3,522 3,388 3,254 3,401 3,457 Long-term debt (LDOD) 319 1,019 2,253 3,009 3,126 3,061 2,940 2,844 2,972 3,154 Public and publicly guaranteed 319 1,019 2,253 3,009 3,126 3,061 2,940 2,844 2,972 3,154 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 3 35 51 99 127 127 113 123 139 136 Short-term debt 5 80 172 411 293 334 335 287 289 166 of which interest arrears on LDOD 5 29 55 98 99 106 118 111 110 110 Official creditors 2 23 49 88 96 102 114 107 106 106 Private creditors 3 5 6 10 3 4 4 4 4 4 Memo: principal arrears on LDOD 17 105 190 471 467 515 566 552 554 555 Official creditors 9 89 164 407 452 491 537 524 525 527 Private creditors 7 15 26 64 15 24 29 29 29 29 Memo: export credits 0 0 352 152 139 114 109 109 142 156 TOTAL DEBT FLOWS Disbursements 98 129 196 264 180 106 70 122 66 52 Long-term debt 94 121 196 232 148 95 70 95 49 52 IMF purchases 4 8 0 32 32 11 0 26 17 0 Principal repayments 11 76 110 100 104 73 98 68 89 97 Long-term debt 11 74 96 89 94 66 90 60 79 84 IMF repurchases 0 1 14 10 9 7 8 9 10 13 Net flows on debt 87 22 86 403 -43 68 -41 14 -21 -167 of which short-term debt 0 -31 0 238 -120 35 -12 -40 2 -123 Interest payments (INT) 4 33 59 55 55 55 57 37 36 34 Long-term debt 4 23 53 45 43 44 41 29 31 30 IMF charges 0 1 2 0 1 1 1 0 1 1 Short-term debt 0 9 4 10 12 11 15 7 3 4 Net transfers on debt 83 -11 27 348 -99 13 -97 -23 -57 -202 Total debt service paid (TDS) 15 109 169 155 159 128 155 105 125 131 Long-term debt 15 98 149 134 137 110 131 89 111 114 IMF repurchases and charges 0 2 16 11 10 8 9 9 11 13 Short-term debt (interest only) 0 9 4 10 12 11 15 7 3 4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 84 73 211 285 244 251 101 185 173 213 Net flow of long-term debt (ex. IMF) 83 47 100 142 54 29 -20 36 -30 -32 Foreign direct investment (net) 0 1 18 17 18 63 10 2 30 79 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 2 25 93 125 172 158 112 148 173 166 Memo: technical coop. grants 4 19 61 49 49 54 51 53 56 69 official net resource flows 79 26 212 288 237 188 91 184 143 134 private net resource flows 6 47 -1 -3 7 63 10 2 30 79 NET TRANSFERS 80 49 97 194 141 175 52 110 140 104 Interest on long-term debt 4 23 53 45 43 44 41 29 31 30 Profit remittances on FDI 0 0 61 46 60 32 8 46 1 79 Memo: official net transfers 76 5 165 246 194 144 50 154 111 104 private net transfers 5 44 -68 -52 -53 31 1 -44 29 0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 2,665 3,661 3,460 3,377 3,035 2,976 3,170 3,599 Exports of goods, serv. & inc. (XGS) .. .. 841 749 817 780 759 854 820 867 Worker remit. & comp. of employees 0 0 0 1 5 6 1 9 15 111 Imports of goods & services (MGS) .. .. 1,115 955 1,088 1,053 973 994 1,051 1,076 International reserves (RES) .. .. .. 122 237 200 148 200 171 .. Current account balance .. .. -203 -91 -154 -201 -140 -60 -200 -185 4. DEBT INDICATORS EDT / XGS (%) .. .. 294.3 469.5 434.0 451.8 446.4 381.1 414.6 398.9 EDT / GNI (%) .. .. 92.9 96.1 102.5 104.3 111.6 109.4 107.3 96.1 TDS / XGS (%) .. .. 20.0 20.7 19.5 16.4 20.4 12.3 15.2 15.1 INT / XGS (%) .. .. 7.0 7.3 6.8 7.1 7.5 4.3 4.4 4.0 INT / GNI (%) .. .. 2.2 1.5 1.6 1.6 1.9 1.2 1.1 1.0 RES / EDT (%) .. .. .. 3.5 6.7 5.7 4.4 6.2 5.0 .. RES / MGS (months) .. .. .. 1.5 2.6 2.3 1.8 2.4 2.0 .. Short-term / EDT (%) 1.5 7.0 6.9 11.7 8.3 9.5 9.9 8.8 8.5 4.8 Concessional / EDT (%) 75.1 59.8 67.7 70.5 74.7 74.3 74.9 76.4 76.9 80.6 Multilateral / EDT (%) 6.2 11.5 27.4 44.2 47.6 47.7 47.7 48.8 50.2 54.2 245 GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 319 1,019 2,253 3,009 3,126 3,061 2,940 2,844 2,972 3,154 Public and publicly guaranteed 319 1,019 2,253 3,009 3,126 3,061 2,940 2,844 2,972 3,154 Official creditors 279 860 2,144 2,933 3,097 3,032 2,911 2,815 2,944 3,125 Multilateral 20 130 678 1,555 1,688 1,679 1,615 1,589 1,708 1,873 Concessional 0 63 602 1,299 1,448 1,459 1,419 1,425 1,551 1,714 Bilateral 259 731 1,467 1,378 1,408 1,352 1,296 1,226 1,236 1,253 Concessional 246 615 1,073 1,181 1,200 1,159 1,117 1,060 1,063 1,071 Private creditors 40 158 108 76 30 29 29 29 29 29 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 24 12 0 0 0 0 0 0 Other private 40 150 84 63 30 29 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 32 392 922 1,016 1,014 982 1,003 1,096 1,212 DISBURSEMENTS 94 121 196 232 148 95 70 95 49 52 Public and publicly guaranteed 94 121 196 232 148 95 70 95 49 52 Official creditors 83 64 196 212 142 95 70 95 49 52 Multilateral 15 34 90 194 135 84 70 95 49 52 Concessional 0 31 85 160 115 66 60 91 47 47 Bilateral 68 30 106 18 7 11 0 0 0 0 Concessional 57 24 105 13 3 10 0 0 0 0 Private creditors 10 57 0 20 7 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 10 53 0 20 7 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 0 0 0 0 0 0 0 0 0 IDA 0 10 52 109 66 29 29 70 32 33 PRINCIPAL REPAYMENTS 11 74 96 89 94 66 90 60 79 84 Public and publicly guaranteed 11 74 96 89 94 66 90 60 79 84 Official creditors 6 63 77 49 77 65 90 59 79 84 Multilateral 0 14 21 33 61 47 51 33 36 39 Concessional 0 0 6 15 15 25 29 22 21 22 Bilateral 6 49 56 16 16 18 39 27 43 45 Concessional 6 43 48 14 16 18 9 24 41 44 Private creditors 5 11 19 40 17 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 7 11 17 0 0 0 0 0 Other private 5 11 11 30 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 3 12 0 0 0 0 0 0 0 IDA 0 0 1 4 5 10 11 8 4 7 NET FLOWS ON DEBT 83 47 100 142 54 29 -20 36 -30 -32 Public and publicly guaranteed 83 47 100 142 54 29 -20 36 -30 -32 Official creditors 77 1 119 163 64 30 -20 36 -30 -32 Multilateral 15 20 68 160 74 37 19 63 13 14 Concessional 0 31 80 145 99 42 31 69 26 24 Bilateral 62 -19 51 3 -10 -7 -39 -27 -43 -45 Concessional 51 -19 57 -1 -12 -8 -9 -24 -41 -44 Private creditors 6 46 -19 -20 -10 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 4 -7 -11 -17 0 0 0 0 0 Other private 6 42 -11 -10 6 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 -3 -12 0 0 0 0 0 0 0 IDA 0 10 51 105 61 19 17 63 28 26 246 GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 4 23 53 45 43 44 41 29 31 30 Public and publicly guaranteed 4 23 53 45 43 44 41 29 31 30 Official creditors 3 21 47 42 43 44 41 29 31 30 Multilateral 1 8 12 24 25 26 24 19 22 21 Concessional 0 0 5 11 11 15 13 12 13 14 Bilateral 2 13 35 17 18 18 17 10 9 9 Concessional 2 12 23 12 13 10 9 7 8 8 Private creditors 1 2 6 3 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 5 2 0 0 0 0 0 0 Other private 1 2 1 1 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 2 0 0 0 0 0 0 0 IDA 0 0 2 6 6 9 7 7 7 8 NET TRANSFERS ON DEBT 79 24 47 98 11 -15 -62 6 -62 -62 Public and publicly guaranteed 79 24 47 98 11 -15 -62 6 -62 -62 Official creditors 74 -20 72 121 21 -15 -61 7 -61 -62 Multilateral 14 12 57 136 49 11 -6 43 -9 -8 Concessional 0 31 74 134 89 27 18 57 13 10 Bilateral 60 -32 15 -15 -28 -25 -56 -37 -52 -54 Concessional 49 -31 34 -13 -25 -18 -18 -31 -49 -51 Private creditors 5 44 -25 -23 -10 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 3 -13 -13 -17 0 0 0 0 0 Other private 5 40 -12 -11 6 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 14 -9 -14 0 0 0 0 0 0 0 IDA 0 10 49 99 55 10 10 56 22 18 DEBT SERVICE (LTDS) 15 98 149 134 137 110 131 89 111 114 Public and publicly guaranteed 15 98 149 134 137 110 131 89 111 114 Official creditors 9 84 124 91 120 110 131 89 110 114 Multilateral 1 22 33 58 86 73 76 52 58 60 Concessional 0 0 11 25 26 40 42 34 35 36 Bilateral 8 62 91 33 34 37 56 37 52 54 Concessional 8 55 71 26 29 28 18 31 49 51 Private creditors 6 14 25 44 17 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 13 13 17 0 0 0 0 0 Other private 6 13 12 31 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 9 14 0 0 0 0 0 0 0 IDA 0 0 3 10 11 19 18 15 11 14 UNDISBURSED DEBT 196 527 1,183 476 356 263 250 332 327 278 Official creditors 173 412 1,182 469 356 263 250 332 327 278 Private creditors 24 115 0 7 0 0 0 0 0 0 Memorandum items Concessional LDOD 246 678 1,675 2,479 2,649 2,618 2,536 2,485 2,614 2,785 Variable rate LDOD 0 3 173 18 5 5 5 4 4 4 Public sector LDOD 319 1,019 2,253 3,009 3,126 3,061 2,940 2,844 2,972 3,154 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 9.1 Deutsche mark 7.1 5.1 1.3 0.6 0.6 0.5 0.5 .. .. .. French franc 5.1 11.3 14.9 8.3 7.9 6.7 6.3 .. .. .. Japanese yen 0.0 0.1 2.2 2.6 2.7 3.0 2.8 2.2 2.2 2.2 Pound sterling 4.0 4.1 1.8 0.9 0.8 0.7 0.6 0.6 0.6 0.5 Swiss franc 0.0 0.8 0.6 0.3 0.3 0.2 0.2 0.2 0.2 0.2 U.S.dollars 16.0 28.2 33.1 51.5 51.8 53.3 54.1 56.2 57.1 57.8 Multiple currency 6.4 5.5 7.6 7.4 7.6 7.7 7.5 7.3 7.6 7.9 Special drawing rights 0.0 0.0 0.6 1.2 1.5 1.6 1.6 1.6 1.7 1.7 All other currencies 61.4 44.9 38.0 27.1 26.7 26.4 26.5 23.4 21.9 20.7 247 GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 110 83 22 39 0 14 5 5 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 71 24 15 14 0 5 3 2 Official .. .. 71 24 15 14 0 5 3 2 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 11 7 6 0 3 3 3 Official .. .. 0 11 7 6 0 3 3 3 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 2 7 5 4 0 36 31 28 Memo: interest forgiven .. .. 0 3 2 2 0 15 14 14 Debt stock reduction .. .. 0 0 130 0 0 0 0 0 of which debt buyback .. .. 0 0 17 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 300 279 27 -23 -135 -134 147 56 Net flows on debt 87 22 86 403 -43 68 -41 14 -21 -167 Net change in interest arrears .. .. 25 -4 1 6 13 -8 0 0 Interest capitalized .. .. 0 11 7 6 0 3 3 3 Debt forgiveness or reduction .. .. -2 -7 -118 -4 0 -36 -31 -28 Cross-currency valuation .. .. 106 -206 -10 -69 -97 -72 141 168 Residual .. .. 85 82 190 -31 -9 -35 55 80 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.9 4.6 2.6 0.6 1.4 1.0 1.3 0.8 0.8 1.0 Maturity (years) 12.9 19.3 30.5 43.0 37.2 37.4 38.1 42.1 47.7 45.4 Grace period (years) 5.2 5.6 8.2 10.4 9.0 9.7 9.1 10.4 10.3 9.7 Grant element (%) 40.1 36.2 59.5 83.1 69.7 76.8 73.3 81.3 82.7 78.8 Official creditors Interest (%) 0.9 3.4 2.6 0.6 1.4 1.0 1.3 0.8 0.8 1.0 Maturity (years) 15.0 22.8 30.5 43.0 37.2 37.4 38.1 42.1 47.7 45.4 Grace period (years) 7.0 6.6 8.2 10.4 9.0 9.7 9.1 10.4 10.3 9.7 Grant element (%) 55.5 46.5 59.5 83.1 69.7 76.8 73.3 81.3 82.7 78.8 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 68 269 487 135 24 58 76 186 24 15 Official creditors 42 197 487 135 24 58 76 186 24 15 Private creditors 26 72 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 44 53 47 41 34 21 15 9 6 3 Principal 123 108 108 104 104 108 111 111 107 107 Interest 47 45 42 39 37 35 32 30 27 25 Official creditors Disbursements 44 53 47 41 34 21 15 9 6 3 Principal 123 108 108 104 104 108 111 111 107 107 Interest 47 45 42 39 37 35 32 30 27 25 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 58 43 41 40 38 39 38 36 37 38 Interest 23 23 21 20 19 18 17 15 14 13 Multilateral creditors Disbursements 44 53 47 41 34 21 15 9 6 3 Principal 65 66 66 64 66 69 73 76 70 69 Interest 24 22 21 19 18 17 15 14 13 12 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 0 248 GUINEA-BISSAU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 139.6 692.1 921.3 965.6 933.7 804.4 668.3 699.4 745.1 Long-term debt (LDOD) .. 133.1 630.4 838.4 874.3 834.2 715.5 627.2 662.3 712.5 Public and publicly guaranteed .. 133.1 630.4 838.4 874.3 834.2 715.5 627.2 662.3 712.5 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 12.2 15.4 17.3 24.7 23.2 23.4 20.5 Short-term debt .. 5.1 56.5 70.7 76.0 82.2 64.2 17.9 13.7 12.1 of which interest arrears on LDOD .. 1.1 29.9 62.7 71.9 79.1 51.2 7.8 7.7 8.1 Official creditors .. 1.1 27.5 62.7 71.8 79.0 51.1 7.8 7.7 8.1 Private creditors .. 0.0 2.4 0.0 0.1 0.1 0.1 0.0 0.0 0.0 Memo: principal arrears on LDOD .. 4.5 112.8 161.6 176.9 199.7 114.7 27.5 26.7 27.4 Official creditors .. 2.7 107.0 161.3 176.5 199.2 114.1 27.5 26.7 27.4 Private creditors .. 1.8 5.9 0.3 0.4 0.5 0.6 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements .. 74.7 36.5 36.5 17.7 5.0 22.2 5.9 6.0 19.5 Long-term debt .. 74.7 36.5 30.3 14.5 2.1 13.6 5.9 6.0 19.5 IMF purchases .. 0.0 0.0 6.1 3.2 2.9 8.6 0.0 0.0 0.0 Principal repayments .. 3.0 2.3 6.1 7.0 4.0 9.6 13.4 7.3 10.7 Long-term debt .. 3.0 2.3 5.0 6.4 3.4 9.4 13.4 5.7 5.8 IMF repurchases .. 0.0 0.0 1.0 0.6 0.6 0.2 0.0 1.5 4.8 Net flows on debt .. 72.7 45.7 26.9 6.7 0.0 22.5 -10.4 -5.3 6.8 of which short-term debt .. 1.0 11.6 -3.5 -3.9 -1.0 10.0 -2.9 -4.1 -2.0 Interest payments (INT) .. 1.6 6.1 3.6 5.1 5.1 10.3 9.9 3.8 4.5 Long-term debt .. 1.1 3.4 3.0 4.7 4.8 9.6 9.2 3.2 4.1 IMF charges .. 0.1 0.0 0.1 0.1 0.1 0.3 0.3 0.2 0.2 Short-term debt .. 0.5 2.7 0.5 0.3 0.2 0.5 0.5 0.3 0.2 Net transfers on debt .. 71.0 39.6 23.3 1.5 -5.1 12.2 -20.3 -9.1 2.3 Total debt service paid (TDS) .. 4.6 8.4 9.7 12.2 9.1 20.0 23.3 11.0 15.2 Long-term debt .. 4.1 5.7 8.1 11.2 8.1 19.0 22.5 8.9 9.9 IMF repurchases and charges .. 0.1 0.0 1.1 0.7 0.7 0.5 0.3 1.8 5.0 Short-term debt (interest only) .. 0.5 2.7 0.5 0.3 0.2 0.5 0.5 0.3 0.2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 108.4 96.4 89.0 60.8 48.5 55.3 30.2 40.8 124.9 Net flow of long-term debt (ex. IMF) .. 71.7 34.2 25.3 8.0 -1.3 4.2 -7.5 0.3 13.6 Foreign direct investment (net) .. 0.0 2.0 11.5 4.4 8.6 0.7 0.7 1.0 2.1 Portfolio equity flows .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.0 Grants (excluding technical coop.) .. 36.7 60.2 52.2 48.3 41.2 50.4 37.0 38.9 109.2 Memo: technical coop. grants .. 12.1 21.4 40.3 31.6 12.6 13.0 15.3 17.5 18.9 official net resource flows .. 90.6 94.5 77.5 56.4 39.9 54.6 29.5 39.2 122.8 private net resource flows .. 17.8 1.9 11.5 4.4 8.6 0.7 0.7 1.6 2.1 NET TRANSFERS .. 107.3 93.0 85.9 56.0 43.8 45.7 21.1 36.8 120.8 Interest on long-term debt .. 1.1 3.4 3.0 4.7 4.8 9.6 9.2 3.2 4.1 Profit remittances on FDI .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.0 Memo: official net transfers .. 90.4 91.3 74.4 51.6 35.2 45.0 20.4 35.9 118.7 private net transfers .. 16.9 1.7 11.5 4.4 8.6 0.7 0.7 0.9 2.1 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 104.8 233.3 253.9 192.4 210.1 203.1 183.0 194.9 228.1 Exports of goods, serv. & inc. (XGS) .. .. 27.1 58.9 .. .. .. 77.5 79.6 93.8 Worker remit. & comp. of employees .. 0.0 1.0 2.0 2.0 2.0 2.0 10.0 18.0 18.0 Imports of goods & services (MGS) .. .. 110.5 102.9 .. .. .. 104.6 96.0 97.4 International reserves (RES) .. .. 18.2 33.7 35.8 35.3 66.7 69.5 102.7 164.4 Current account balance .. .. -45.3 -6.4 .. .. .. -11.1 -1.3 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 2,554.0 1,565.2 .. .. .. 862.7 879.1 794.7 EDT / GNI (%) .. 133.3 296.6 362.9 502.0 444.5 396.1 365.1 358.9 326.6 TDS / XGS (%) .. .. 31.1 16.4 .. .. .. 30.1 13.9 16.2 INT / XGS (%) .. .. 22.5 6.1 .. .. .. 12.8 4.7 4.8 INT / GNI (%) .. 1.6 2.6 1.4 2.7 2.4 5.1 5.4 1.9 2.0 RES / EDT (%) .. .. 2.6 3.7 3.7 3.8 8.3 10.4 14.7 22.1 RES / MGS (months) .. .. 2.0 3.9 .. .. .. 8.0 12.8 20.2 Short-term / EDT (%) .. 3.6 8.2 7.7 7.9 8.8 8.0 2.7 2.0 1.6 Concessional / EDT (%) .. 62.0 56.7 72.2 72.3 71.6 75.4 85.1 86.8 89.5 Multilateral / EDT (%) .. 24.5 39.5 42.0 42.5 42.7 48.6 54.6 55.8 58.6 249 GUINEA-BISSAU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 133.1 630.4 838.4 874.3 834.2 715.5 627.2 662.3 712.5 Public and publicly guaranteed .. 133.1 630.4 838.4 874.3 834.2 715.5 627.2 662.3 712.5 Official creditors .. 96.9 597.4 837.6 873.5 833.4 714.7 627.1 662.3 712.5 Multilateral .. 34.2 273.3 386.9 410.1 398.3 390.5 364.7 390.6 436.4 Concessional .. 29.0 244.3 371.9 395.1 384.4 377.4 356.2 382.7 429.0 Bilateral .. 62.7 324.1 450.6 463.4 435.1 324.2 262.4 271.7 276.1 Concessional .. 57.6 148.2 293.6 302.6 283.7 229.3 212.7 224.5 237.8 Private creditors .. 36.2 32.9 0.8 0.8 0.8 0.8 0.1 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 .. 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 0.1 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 .. 4.7 145.5 220.7 233.5 227.9 227.6 219.9 237.1 267.3 DISBURSEMENTS .. 74.7 36.5 30.3 14.5 2.1 13.6 5.9 6.0 19.5 Public and publicly guaranteed .. 74.7 36.5 30.3 14.5 2.1 13.6 5.9 6.0 19.5 Official creditors .. 54.1 36.5 30.3 14.5 2.1 13.6 5.9 6.0 19.5 Multilateral .. 29.5 30.3 30.3 14.5 2.1 13.6 5.9 6.0 19.5 Concessional .. 24.3 30.3 30.3 14.5 2.1 13.6 5.9 6.0 19.5 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 17.7 5.3 2.1 13.6 3.9 3.8 11.7 PRINCIPAL REPAYMENTS .. 3.0 2.3 5.0 6.4 3.4 9.4 13.4 5.7 5.8 Public and publicly guaranteed .. 3.0 2.3 5.0 6.4 3.4 9.4 13.4 5.7 5.8 Official creditors .. 0.2 2.3 5.0 6.4 3.4 9.4 13.4 5.7 5.8 Multilateral .. 0.0 1.5 3.5 6.4 3.4 2.7 4.1 1.6 1.8 Concessional .. 0.0 0.6 2.9 5.7 3.3 2.7 3.0 0.4 0.4 Bilateral .. 0.2 0.8 1.6 0.0 0.0 6.7 9.2 4.2 4.1 Concessional .. 0.0 0.3 1.6 0.0 0.0 0.0 2.5 4.2 4.1 Private creditors .. 2.8 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 .. 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 2.4 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 1.3 0.5 2.7 2.4 1.5 0.0 0.1 NET FLOWS ON DEBT .. 71.7 34.2 25.3 8.0 -1.3 4.2 -7.5 0.3 13.6 Public and publicly guaranteed .. 71.7 34.2 25.3 8.0 -1.3 4.2 -7.5 0.3 13.6 Official creditors .. 53.9 34.2 25.3 8.0 -1.3 4.2 -7.5 0.3 13.6 Multilateral .. 29.5 28.8 26.9 8.0 -1.3 10.9 1.7 4.4 17.7 Concessional .. 24.3 29.7 27.4 8.8 -1.2 11.0 2.9 5.6 19.1 Bilateral .. 24.5 5.4 -1.6 0.0 0.0 -6.7 -9.2 -4.2 -4.1 Concessional .. 24.2 5.9 -1.6 0.0 0.0 0.0 -2.5 -4.2 -4.1 Private creditors .. 17.8 -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 .. -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 18.1 -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 .. 4.2 15.4 16.4 4.8 -0.6 11.3 2.4 3.8 11.6 250 GUINEA-BISSAU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 1.1 3.4 3.0 4.7 4.8 9.6 9.2 3.2 4.1 Public and publicly guaranteed .. 1.1 3.4 3.0 4.7 4.8 9.6 9.2 3.2 4.1 Official creditors .. 0.3 3.1 3.0 4.7 4.8 9.6 9.2 3.2 4.1 Multilateral .. 0.0 2.6 2.9 2.2 2.6 1.7 1.0 0.6 1.5 Concessional .. 0.0 1.8 2.7 1.8 2.6 1.7 0.9 0.5 1.4 Bilateral .. 0.2 0.6 0.1 2.5 2.1 7.9 8.1 2.6 2.6 Concessional .. 0.2 0.3 0.1 2.5 2.1 0.0 4.4 2.6 2.6 Private creditors .. 0.8 0.3 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 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 0.0 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 1.1 1.8 0.8 2.5 1.6 0.8 0.4 0.9 NET TRANSFERS ON DEBT .. 70.6 30.8 22.2 3.3 -6.0 -5.3 -16.7 -2.9 9.5 Public and publicly guaranteed .. 70.6 30.8 22.2 3.3 -6.0 -5.3 -16.7 -2.9 9.5 Official creditors .. 53.7 31.1 22.2 3.3 -6.0 -5.3 -16.7 -2.9 9.5 Multilateral .. 29.4 26.2 23.9 5.8 -3.9 9.2 0.7 3.8 16.2 Concessional .. 24.3 27.9 24.7 7.0 -3.8 9.3 2.0 5.1 17.7 Bilateral .. 24.2 4.9 -1.7 -2.5 -2.1 -14.6 -17.4 -6.8 -6.7 Concessional .. 24.0 5.7 -1.7 -2.5 -2.1 0.0 -6.9 -6.8 -6.7 Private creditors .. 16.9 -0.3 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 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 0.0 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 14.2 14.6 4.0 -3.1 9.7 1.6 3.4 10.7 DEBT SERVICE (LTDS) .. 4.1 5.7 8.1 11.2 8.1 19.0 22.5 8.9 9.9 Public and publicly guaranteed .. 4.1 5.7 8.1 11.2 8.1 19.0 22.5 8.9 9.9 Official creditors .. 0.5 5.4 8.1 11.2 8.1 19.0 22.5 8.9 9.9 Multilateral .. 0.0 4.0 6.4 8.7 6.0 4.4 5.2 2.2 3.2 Concessional .. 0.0 2.3 5.6 7.4 5.9 4.3 3.8 0.9 1.8 Bilateral .. 0.4 1.4 1.7 2.5 2.1 14.6 17.4 6.8 6.7 Concessional .. 0.2 0.5 1.7 2.5 2.1 0.0 6.9 6.8 6.7 Private creditors .. 3.6 0.3 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 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 0.0 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 1.2 3.1 1.4 5.2 4.0 2.3 0.4 1.0 UNDISBURSED DEBT .. 72.6 271.9 85.2 77.8 66.4 74.9 78.9 118.3 108.8 Official creditors .. 66.6 263.6 85.2 77.8 66.4 74.9 78.9 118.3 108.8 Private creditors .. 6.0 8.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. 86.6 392.6 665.5 697.7 668.1 606.7 568.9 607.2 666.8 Variable rate LDOD .. 2.1 36.9 15.7 15.7 15.7 15.7 9.8 8.3 6.9 Public sector LDOD .. 133.1 630.4 838.4 874.3 834.2 715.5 627.2 662.3 712.5 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 12.3 Deutsche mark .. 0.0 0.5 0.3 0.3 0.3 0.3 .. .. .. French franc .. 14.8 1.8 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 12.2 12.3 11.1 12.7 10.6 10.6 9.1 U.S.dollars .. 25.1 27.3 31.9 31.3 32.4 37.9 43.8 43.3 43.6 Multiple currency .. 2.8 26.4 24.1 25.0 25.3 28.0 29.3 29.6 29.7 Special drawing rights .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. 54.5 35.4 30.5 30.0 29.9 20.1 5.9 5.2 5.2 251 GUINEA-BISSAU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 16.1 3.0 1.1 0.0 0.0 44.6 5.9 6.2 Debt stock rescheduled .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal rescheduled .. .. 8.2 0.4 0.3 0.0 0.0 29.3 4.5 5.5 Official .. .. 3.8 0.4 0.3 0.0 0.0 29.2 4.5 5.5 Private .. .. 4.4 0.0 0.0 0.0 0.0 0.2 0.0 0.0 Interest rescheduled .. .. 6.8 0.1 0.1 0.0 0.0 15.3 1.5 1.5 Official .. .. 3.7 0.1 0.1 0.0 0.0 15.3 1.5 1.5 Private .. .. 3.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiven .. .. 4.5 0.0 0.0 0.0 92.0 70.7 19.6 22.2 Memo: interest forgiven .. .. 0.6 0.0 0.0 0.0 32.5 32.3 6.3 5.4 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 -15.5 44.3 -31.9 -129.3 -136.1 31.1 45.7 Net flows on debt .. 72.7 45.7 26.9 6.7 0.0 22.5 -10.4 -5.3 6.8 Net change in interest arrears .. .. 6.6 1.2 9.2 7.2 -28.0 -43.3 -0.1 0.4 Interest capitalized .. .. 6.8 0.1 0.1 0.0 0.0 15.3 1.5 1.5 Debt forgiveness or reduction .. .. -4.5 0.0 0.0 0.0 -92.0 -70.7 -19.6 -22.2 Cross-currency valuation .. .. 35.1 -45.6 12.4 -35.0 -20.3 -16.1 44.7 40.7 Residual .. .. 9.3 1.8 16.0 -4.2 -11.7 -10.8 10.0 18.5 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 2.8 2.2 0.7 0.8 0.0 0.9 0.8 0.8 0.0 Maturity (years) .. 17.5 28.1 47.9 39.4 0.0 37.9 44.8 41.2 0.0 Grace period (years) .. 3.9 10.4 10.8 9.9 0.0 9.8 9.8 10.1 0.0 Grant element (%) .. 39.5 61.8 83.7 80.2 0.0 77.6 81.6 80.8 0.0 Official creditors Interest (%) .. 2.7 2.2 0.7 0.8 0.0 0.9 0.8 0.8 0.0 Maturity (years) .. 17.9 28.1 47.9 39.4 0.0 37.9 44.8 41.2 0.0 Grace period (years) .. 4.0 10.4 10.8 9.9 0.0 9.8 9.8 10.1 0.0 Grant element (%) .. 40.5 61.8 83.7 80.2 0.0 77.6 81.6 80.8 0.0 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 40 12 0 27 13 37 0 Official creditors .. 42 98 40 12 0 27 13 37 0 Private creditors .. 1 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 30.4 19.0 16.2 13.6 10.3 7.2 4.6 2.5 1.3 1.0 Principal 39.1 30.7 22.2 21.2 21.6 20.2 20.8 20.7 21.0 21.6 Interest 10.9 9.8 9.3 9.0 8.7 8.4 8.1 7.8 7.6 7.3 Official creditors Disbursements 30.4 19.0 16.2 13.6 10.3 7.2 4.6 2.5 1.3 1.0 Principal 39.1 30.7 22.2 21.2 21.6 20.2 20.8 20.7 21.0 21.6 Interest 10.9 9.8 9.3 9.0 8.7 8.4 8.1 7.8 7.6 7.3 Bilateral creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 27.1 19.4 10.5 8.6 8.3 6.7 6.1 5.1 4.3 4.7 Interest 7.5 6.3 5.8 5.5 5.2 5.0 4.8 4.6 4.4 4.3 Multilateral creditors Disbursements 30.4 19.0 16.2 13.6 10.3 7.2 4.6 2.5 1.3 1.0 Principal 11.9 11.2 11.8 12.5 13.3 13.6 14.6 15.6 16.8 16.8 Interest 3.4 3.5 3.5 3.5 3.5 3.4 3.3 3.2 3.1 3.0 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 0.0 252 GUYANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 83 835 1,960 1,588 1,479 1,423 1,373 1,318 1,382 1,447 Long-term debt (LDOD) 83 631 1,773 1,329 1,198 1,142 1,133 1,105 1,154 1,226 Public and publicly guaranteed 83 631 1,773 1,329 1,198 1,137 1,129 1,101 1,151 1,223 Private nonguaranteed 0 0 0 0 0 5 4 4 3 3 Use of IMF credit 0 86 113 157 154 140 117 98 96 95 Short-term debt 0 118 75 102 127 142 123 115 132 126 of which interest arrears on LDOD 0 8 63 86 80 76 71 79 88 95 Official creditors 0 5 40 65 59 63 63 59 65 68 Private creditors 0 3 23 21 22 13 8 20 22 27 Memo: principal arrears on LDOD 0 61 184 107 96 73 73 68 71 71 Official creditors 0 34 80 68 56 61 58 53 56 55 Private creditors 0 27 104 40 40 12 15 15 15 16 Memo: export credits 0 0 257 207 27 46 40 33 40 40 TOTAL DEBT FLOWS Disbursements 14 169 264 90 70 63 73 65 47 78 Long-term debt 14 115 159 65 57 51 64 65 40 69 IMF purchases 0 55 104 25 12 12 9 0 7 8 Principal repayments 2 58 175 76 73 51 41 25 34 36 Long-term debt 2 43 69 50 52 36 25 20 25 28 IMF repurchases 0 16 107 26 22 15 17 5 9 8 Net flows on debt 12 155 256 12 27 31 19 25 21 28 of which short-term debt 0 44 167 -1 30 19 -13 -16 8 -13 Interest payments (INT) 3 35 120 54 61 36 30 20 30 22 Long-term debt 3 31 73 52 59 33 26 17 28 21 IMF charges 0 4 40 1 1 1 1 1 0 0 Short-term debt 0 1 7 1 2 3 3 2 1 0 Net transfers on debt 8 120 135 -42 -34 -5 -11 5 -9 7 Total debt service paid (TDS) 6 93 295 130 134 87 71 45 64 58 Long-term debt 6 74 142 102 110 69 51 37 53 49 IMF repurchases and charges 0 19 146 27 22 15 17 6 9 9 Short-term debt (interest only) 0 1 7 1 2 3 3 2 1 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 22 77 173 262 155 90 145 139 76 73 Net flow of long-term debt (ex. IMF) 12 72 91 15 6 15 40 46 15 41 Foreign direct investment (net) 9 1 8 52 44 46 67 56 44 26 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 2 4 74 196 105 29 39 37 17 5 Memo: technical coop. grants 3 8 9 14 7 15 18 21 21 33 official net resource flows 14 70 181 214 115 48 79 84 33 48 private net resource flows 8 6 -8 48 40 41 67 55 43 25 NET TRANSFERS 19 45 100 204 93 54 113 117 43 50 Interest on long-term debt 3 31 73 52 59 33 26 17 28 21 Profit remittances on FDI 0 0 0 6 4 3 6 5 4 2 Memo: official net transfers 12 59 117 163 58 18 53 67 7 29 private net transfers 7 -13 -18 41 35 36 60 49 36 21 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 247 561 275 673 648 638 661 654 670 698 Exports of goods, serv. & inc. (XGS) .. 411 .. 769 716 704 713 695 726 767 Worker remit. & comp. of employees 0 0 0 15 15 20 27 22 51 64 Imports of goods & services (MGS) .. 538 .. 905 847 801 848 850 826 834 International reserves (RES) 20 13 29 316 277 268 305 287 284 276 Current account balance .. -129 .. -111 -102 -78 -115 -134 -111 -91 4. DEBT INDICATORS EDT / XGS (%) .. 203.3 .. 206.5 206.6 202.3 192.5 189.7 190.4 188.7 EDT / GNI (%) 33.5 148.7 712.5 236.0 228.3 223.1 207.9 201.6 206.4 207.3 TDS / XGS (%) .. 22.8 .. 16.9 18.8 12.4 9.9 6.5 8.8 7.5 INT / XGS (%) .. 8.6 .. 7.0 8.6 5.2 4.2 2.9 4.2 2.8 INT / GNI (%) 1.4 6.3 43.7 8.0 9.5 5.7 4.5 3.0 4.5 3.1 RES / EDT (%) 24.7 1.5 1.5 19.9 18.7 18.8 22.2 21.8 20.6 19.1 RES / MGS (months) .. 0.3 .. 4.2 3.9 4.0 4.3 4.1 4.1 4.0 Short-term / EDT (%) 0.0 14.1 3.8 6.4 8.6 9.9 8.9 8.7 9.5 8.7 Concessional / EDT (%) 48.4 27.5 56.8 54.6 53.9 68.8 72.1 73.3 73.4 75.3 Multilateral / EDT (%) 0.8 13.5 23.9 41.9 47.3 40.8 43.5 48.2 49.6 53.6 253 GUYANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 83 631 1,773 1,329 1,198 1,142 1,133 1,105 1,154 1,226 Public and publicly guaranteed 83 631 1,773 1,329 1,198 1,137 1,129 1,101 1,151 1,223 Official creditors 66 379 1,601 1,248 1,120 1,095 1,085 1,049 1,098 1,169 Multilateral 1 112 468 666 700 581 598 635 685 776 Concessional 0 69 291 574 620 517 551 594 645 740 Bilateral 66 267 1,134 582 421 513 487 414 413 393 Concessional 40 160 822 294 177 462 440 372 370 349 Private creditors 17 252 172 81 77 43 45 52 53 54 Bonds 17 14 0 0 0 0 0 0 0 0 Commercial banks 0 124 104 40 37 3 6 14 13 13 Other private 0 113 67 42 41 40 39 38 39 41 Private nonguaranteed 0 0 0 0 0 5 4 4 3 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 5 4 4 3 3 Memo: IBRD 0 36 59 19 16 12 8 5 3 1 IDA 0 18 93 218 234 184 180 178 196 232 DISBURSEMENTS 14 115 159 65 57 51 64 65 40 69 Public and publicly guaranteed 14 115 159 65 57 48 64 65 40 69 Official creditors 14 84 153 65 57 48 64 65 40 69 Multilateral 1 34 122 53 50 45 64 65 38 69 Concessional 0 29 109 53 50 45 64 63 37 69 Bilateral 13 50 31 12 7 3 0 0 2 0 Concessional 6 21 19 12 7 3 0 0 2 0 Private creditors 0 31 6 0 0 0 0 0 0 0 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 0 9 6 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 3 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 3 0 0 0 0 Memo: IBRD 0 2 0 0 0 0 0 0 0 0 IDA 0 2 54 18 9 7 6 7 6 20 PRINCIPAL REPAYMENTS 2 43 69 50 52 36 25 20 25 28 Public and publicly guaranteed 2 43 69 50 52 32 24 19 24 27 Official creditors 1 18 46 47 47 28 24 19 24 27 Multilateral 0 1 42 28 32 18 20 16 14 17 Concessional 0 0 6 13 17 5 8 8 5 8 Bilateral 1 17 4 19 15 10 4 2 10 10 Concessional 1 9 0 13 10 7 1 1 10 10 Private creditors 1 25 22 4 4 3 0 0 1 1 Bonds 0 0 1 0 0 0 0 0 0 0 Commercial banks 1 11 8 2 3 3 0 0 0 1 Other private 0 14 14 2 1 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 4 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 4 0 0 0 0 Memo: IBRD 0 1 31 5 5 3 3 3 3 2 IDA 0 0 0 1 1 0 1 1 0 1 NET FLOWS ON DEBT 12 72 91 15 6 15 40 46 15 41 Public and publicly guaranteed 12 72 91 15 6 16 40 46 15 42 Official creditors 12 66 107 18 10 19 40 47 16 43 Multilateral 1 34 80 25 18 27 44 49 24 52 Concessional 0 29 103 40 33 40 56 55 32 61 Bilateral 12 33 27 -7 -8 -7 -4 -2 -8 -10 Concessional 5 12 19 -1 -3 -4 -1 -1 -8 -10 Private creditors -1 6 -16 -4 -4 -3 0 0 -1 -1 Bonds 0 0 -1 0 0 0 0 0 0 0 Commercial banks -1 10 -8 -2 -3 -3 0 0 0 -1 Other private 0 -4 -8 -2 -1 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 -2 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 -2 0 0 0 0 Memo: IBRD 0 1 -31 -5 -5 -3 -3 -3 -3 -2 IDA 0 2 54 17 9 7 5 6 6 20 254 GUYANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 3 31 73 52 59 33 26 17 28 21 Public and publicly guaranteed 3 31 73 52 59 32 26 17 28 20 Official creditors 3 11 64 51 57 30 26 17 26 19 Multilateral 0 4 58 17 23 13 10 10 9 10 Concessional 0 1 8 9 16 7 6 7 6 7 Bilateral 3 7 6 35 34 17 16 7 17 9 Concessional 1 4 3 11 17 10 15 6 17 9 Private creditors 1 20 9 1 2 2 0 1 2 2 Bonds 1 1 0 0 0 0 0 0 0 0 Commercial banks 0 14 5 1 1 1 0 0 0 0 Other private 0 5 4 0 1 1 0 0 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 3 31 2 1 1 1 1 0 0 IDA 0 0 0 2 2 2 1 1 1 1 NET TRANSFERS ON DEBT 8 41 18 -37 -53 -18 13 28 -14 21 Public and publicly guaranteed 8 41 18 -37 -53 -16 14 29 -13 21 Official creditors 10 55 43 -33 -47 -11 14 30 -10 24 Multilateral 0 30 23 9 -5 14 34 39 16 43 Concessional 0 28 95 31 17 33 50 48 26 54 Bilateral 9 25 20 -41 -42 -25 -20 -9 -26 -19 Concessional 4 8 16 -12 -20 -14 -16 -7 -25 -18 Private creditors -2 -14 -25 -5 -6 -5 0 -1 -3 -2 Bonds -1 -1 -1 0 0 0 0 0 0 0 Commercial banks -1 -4 -12 -3 -3 -4 0 -1 -1 -1 Other private 0 -10 -12 -2 -2 -2 0 0 -2 -1 Private nonguaranteed 0 0 0 0 0 -2 -1 -1 -1 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 -2 -1 -1 -1 -1 Memo: IBRD 0 -2 -62 -7 -6 -4 -4 -3 -3 -3 IDA 0 2 53 16 7 5 4 5 4 18 DEBT SERVICE (LTDS) 6 74 142 102 110 69 51 37 53 49 Public and publicly guaranteed 6 74 142 102 110 64 50 37 53 48 Official creditors 4 29 110 98 104 58 50 35 50 46 Multilateral 0 5 100 44 55 31 30 26 22 27 Concessional 0 1 14 21 33 12 14 15 11 15 Bilateral 4 24 11 54 50 28 20 9 27 19 Concessional 2 13 3 24 28 17 16 7 27 18 Private creditors 2 45 32 5 6 5 0 1 3 2 Bonds 1 1 1 0 0 0 0 0 0 0 Commercial banks 1 25 12 3 3 4 0 1 1 1 Other private 0 19 18 2 2 2 0 0 2 1 Private nonguaranteed 0 0 0 0 0 5 1 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 5 1 1 1 1 Memo: IBRD 0 4 62 7 6 4 4 3 3 3 IDA 0 0 1 2 2 2 2 2 1 2 UNDISBURSED DEBT 56 226 275 271 280 246 262 201 273 285 Official creditors 56 210 270 271 280 246 262 201 273 285 Private creditors 0 16 4 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 40 229 1,113 868 797 979 991 965 1,015 1,089 Variable rate LDOD 0 148 259 95 88 78 81 79 81 82 Public sector LDOD 83 631 1,773 1,329 1,198 1,137 1,129 1,101 1,151 1,223 Private sector LDOD 0 0 0 0 0 5 4 4 3 3 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 4.7 5.5 6.0 Deutsche mark 0.0 0.8 2.2 1.6 1.6 1.3 1.2 .. .. .. French franc 0.0 0.1 0.0 0.0 0.1 0.0 0.0 .. .. .. Japanese yen 0.0 0.0 0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 68.9 20.9 10.4 6.7 7.4 5.8 5.6 5.3 5.5 4.2 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 68.0 63.5 60.0 67.5 69.7 67.0 67.1 69.5 Multiple currency 0.4 9.7 14.8 21.4 23.4 18.3 17.8 20.4 19.4 18.1 Special drawing rights 0.0 0.0 0.1 0.3 0.3 0.3 0.3 0.3 0.4 0.4 All other currencies 6.0 8.6 4.2 6.4 7.2 6.7 5.4 2.1 2.0 1.9 255 GUYANA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 474 0 0 322 0 0 0 0 Debt stock rescheduled .. .. 320 0 0 37 0 0 0 0 Principal rescheduled .. .. 89 0 0 211 0 0 0 0 Official .. .. 88 0 0 211 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 38 0 0 1 0 0 0 0 Official .. .. 37 0 0 1 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 31 2 0 24 5 6 5 22 Memo: interest forgiven .. .. 1 0 0 2 0 0 5 5 Debt stock reduction .. .. 0 0 0 205 0 0 0 0 of which debt buyback .. .. 0 0 0 30 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 303 -17 -110 -55 -50 -56 65 65 Net flows on debt 12 155 256 12 27 31 19 25 21 28 Net change in interest arrears .. .. -38 19 -6 -4 -6 8 8 8 Interest capitalized .. .. 38 0 0 1 0 0 0 0 Debt forgiveness or reduction .. .. -31 -2 0 -199 -5 -6 -5 -22 Cross-currency valuation .. .. 43 -108 -51 -108 -61 -15 38 48 Residual .. .. 36 62 -79 223 3 -68 1 3 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.0 10.5 1.3 1.6 1.4 1.7 2.0 0.5 2.0 3.0 Maturity (years) 25.3 8.1 39.7 39.0 38.8 38.4 40.0 6.8 39.7 29.7 Grace period (years) 9.7 2.4 9.9 9.9 10.4 9.8 10.5 0.7 10.5 8.5 Grant element (%) 32.4 2.9 74.9 72.7 74.1 70.4 69.6 28.4 69.8 56.0 Official creditors Interest (%) 6.0 9.2 1.3 1.6 1.4 1.7 2.0 0.5 2.0 3.0 Maturity (years) 25.3 9.5 39.7 39.0 38.8 38.4 40.0 6.8 39.7 29.7 Grace period (years) 9.7 3.2 9.9 9.9 10.4 9.8 10.5 0.7 10.5 8.5 Grant element (%) 32.4 11.2 74.9 72.7 74.1 70.4 69.6 28.4 69.8 56.0 Private creditors Interest (%) 0.0 12.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 0.0 6.2 0.0 0.0 0.0 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 0.0 0.0 0.0 Grant element (%) 0.0 -8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 20 96 282 83 55 28 85 3 117 78 Official creditors 20 56 282 83 55 28 85 3 117 78 Private creditors 0 39 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 75 75 59 38 21 9 5 1 1 0 Principal 45 44 72 48 43 43 40 45 48 53 Interest 27 27 26 26 25 24 23 22 21 20 Official creditors Disbursements 75 75 59 38 21 9 5 1 1 0 Principal 43 42 45 47 42 42 39 45 47 53 Interest 25 25 25 25 25 24 23 22 21 20 Bilateral creditors Disbursements 1 1 1 1 0 0 0 0 0 0 Principal 17 16 18 19 18 15 12 14 16 18 Interest 11 11 10 10 9 8 8 8 7 7 Multilateral creditors Disbursements 73 74 58 38 21 8 5 1 1 0 Principal 26 26 26 28 24 27 27 31 32 35 Interest 14 14 15 16 16 16 15 15 14 14 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2 2 28 1 1 1 1 0 0 0 Interest 2 2 0 0 0 0 0 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 1 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 1 27 0 0 0 0 0 0 0 Interest 2 1 0 0 0 0 0 0 0 0 256 HAITI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 43 350 911 1,052 1,050 1,185 1,169 1,253 1,248 1,308 Long-term debt (LDOD) 40 290 772 902 982 1,041 1,040 1,028 1,063 1,173 Public and publicly guaranteed 40 290 772 902 982 1,041 1,040 1,028 1,063 1,173 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 3 46 38 43 38 48 39 39 31 18 Short-term debt 0 14 101 107 30 96 90 185 154 117 of which interest arrears on LDOD 0 0 24 1 1 1 1 4 8 21 Official creditors 0 0 14 1 1 1 1 4 8 21 Private creditors 0 0 10 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 4 0 43 2 2 2 2 9 17 38 Official creditors 0 0 14 2 2 2 2 9 17 38 Private creditors 4 0 29 0 0 0 0 0 0 0 Memo: export credits 0 0 117 99 84 80 78 88 113 117 TOTAL DEBT FLOWS Disbursements 4 77 44 119 94 99 51 14 4 36 Long-term debt 4 47 38 98 94 79 51 14 4 36 IMF purchases 0 29 5 21 0 21 0 0 0 0 Principal repayments 3 21 20 19 22 30 24 11 16 36 Long-term debt 3 18 8 17 16 19 18 11 7 22 IMF repurchases 0 3 12 1 5 11 6 0 9 15 Net flows on debt 1 51 39 172 -5 135 21 95 -47 -51 of which short-term debt 0 -5 16 71 -77 66 -6 92 -35 -51 Interest payments (INT) 0 9 15 19 20 20 20 14 12 16 Long-term debt 0 6 6 14 15 15 15 10 8 14 IMF charges 0 1 3 1 1 1 1 1 1 0 Short-term debt 0 2 7 3 3 3 5 3 3 1 Net transfers on debt 1 42 24 153 -24 115 1 80 -59 -67 Total debt service paid (TDS) 4 29 36 37 41 50 44 26 28 52 Long-term debt 4 24 14 31 32 34 33 21 15 36 IMF repurchases and charges 0 3 15 2 6 13 7 1 10 15 Short-term debt (interest only) 0 2 7 3 3 3 5 3 3 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 6 73 95 218 223 198 137 81 84 117 Net flow of long-term debt (ex. IMF) 1 29 30 81 78 59 33 2 -3 14 Foreign direct investment (net) 3 13 0 4 11 30 13 4 6 8 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 2 30 65 133 134 109 91 75 81 95 Memo: technical coop. grants 4 32 66 109 96 102 91 94 78 87 official net resource flows 2 52 95 214 212 168 124 77 78 109 private net resource flows 4 20 0 4 11 30 13 4 6 8 NET TRANSFERS 6 55 89 204 208 183 122 72 76 103 Interest on long-term debt 0 6 6 14 15 15 15 10 8 14 Profit remittances on FDI 0 11 0 0 0 0 0 0 0 0 Memo: official net transfers 1 48 89 200 197 153 109 67 70 95 private net transfers 4 7 0 4 11 30 13 4 6 8 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 391 1,446 2,836 3,332 3,756 4,179 4,003 3,598 3,474 2,906 Exports of goods, serv. & inc. (XGS) .. 415 325 379 801 953 1,082 1,068 1,098 1,280 Worker remit. & comp. of employees 0 106 61 256 327 422 578 624 676 811 Imports of goods & services (MGS) .. 498 540 905 1,052 1,265 1,360 1,307 1,246 1,389 International reserves (RES) 4 27 10 213 264 264 183 142 82 63 Current account balance .. -101 -22 -48 29 -60 -85 -95 -48 -13 4. DEBT INDICATORS EDT / XGS (%) .. 84.3 280.2 277.5 131.1 124.3 108.1 117.3 113.7 102.1 EDT / GNI (%) 11.0 24.2 32.1 31.6 28.0 28.4 29.2 34.8 35.9 45.0 TDS / XGS (%) .. 7.0 11.0 9.8 5.2 5.3 4.1 2.4 2.5 4.1 INT / XGS (%) .. 2.1 4.7 4.9 2.4 2.1 1.9 1.3 1.0 1.2 INT / GNI (%) 0.1 0.6 0.5 0.6 0.5 0.5 0.5 0.4 0.3 0.5 RES / EDT (%) 10.0 7.6 1.1 20.2 25.1 22.3 15.6 11.3 6.6 4.8 RES / MGS (months) .. 0.6 0.2 2.8 3.0 2.5 1.6 1.3 0.8 0.5 Short-term / EDT (%) 0.0 4.0 11.1 10.2 2.8 8.1 7.7 14.8 12.3 8.9 Concessional / EDT (%) 68.3 74.7 79.1 85.6 93.4 87.8 88.8 82.0 85.2 86.8 Multilateral / EDT (%) 0.8 37.8 53.7 71.2 79.1 75.7 77.2 71.4 74.7 74.8 257 HAITI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 40 290 772 902 982 1,041 1,040 1,028 1,063 1,173 Public and publicly guaranteed 40 290 772 902 982 1,041 1,040 1,028 1,063 1,173 Official creditors 29 266 725 902 982 1,041 1,040 1,028 1,063 1,173 Multilateral 0 132 489 749 830 897 903 895 932 978 Concessional 0 132 489 749 830 897 903 895 932 978 Bilateral 29 134 236 153 152 144 136 134 131 195 Concessional 29 129 231 152 151 143 136 133 131 157 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 66 324 458 493 504 480 467 501 518 DISBURSEMENTS 4 47 38 98 94 79 51 14 4 36 Public and publicly guaranteed 4 47 38 98 94 79 51 14 4 36 Official creditors 0 32 38 98 94 79 51 14 4 36 Multilateral 0 21 27 90 93 79 51 14 4 36 Concessional 0 21 27 90 93 79 51 14 4 36 Bilateral 0 11 11 8 1 0 0 0 0 0 Concessional 0 7 11 8 1 0 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 40 39 14 8 1 0 0 PRINCIPAL REPAYMENTS 3 18 8 17 16 19 18 11 7 22 Public and publicly guaranteed 3 18 8 17 16 19 18 11 7 22 Official creditors 1 10 8 17 16 19 18 11 7 22 Multilateral 0 0 5 14 13 14 14 8 3 21 Concessional 0 0 5 14 13 14 14 8 3 21 Bilateral 1 10 3 4 4 5 4 4 4 1 Concessional 1 10 3 3 3 5 4 4 4 0 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 5 6 7 0 0 0 NET FLOWS ON DEBT 1 29 30 81 78 59 33 2 -3 14 Public and publicly guaranteed 1 29 30 81 78 59 33 2 -3 14 Official creditors -1 22 30 81 78 59 33 2 -3 14 Multilateral 0 21 22 77 81 64 37 6 1 15 Concessional 0 21 22 77 81 64 37 6 1 15 Bilateral -1 1 8 4 -3 -5 -4 -4 -4 -1 Concessional -1 -3 8 4 -3 -5 -4 -4 -4 0 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 35 34 8 1 1 0 0 258 HAITI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 6 6 14 15 15 15 10 8 14 Public and publicly guaranteed 0 6 6 14 15 15 15 10 8 14 Official creditors 0 4 6 14 15 15 15 10 8 14 Multilateral 0 1 5 8 10 10 9 5 3 13 Concessional 0 1 5 8 10 10 9 5 3 13 Bilateral 0 3 1 5 5 5 5 5 5 1 Concessional 0 3 1 5 5 5 5 5 5 1 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 4 4 0 0 0 NET TRANSFERS ON DEBT 1 23 24 67 63 44 18 -7 -11 0 Public and publicly guaranteed 1 23 24 67 63 44 18 -7 -11 0 Official creditors -1 18 24 67 63 44 18 -7 -11 0 Multilateral 0 20 17 68 71 55 27 1 -2 2 Concessional 0 20 17 68 71 55 27 1 -2 2 Bilateral -1 -2 7 -1 -8 -10 -9 -9 -9 -2 Concessional -1 -6 7 -1 -8 -10 -9 -8 -9 -1 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 32 30 5 -2 1 0 0 DEBT SERVICE (LTDS) 4 24 14 31 32 34 33 21 15 36 Public and publicly guaranteed 4 24 14 31 32 34 33 21 15 36 Official creditors 1 15 14 31 32 34 33 21 15 36 Multilateral 0 1 10 22 22 24 23 13 6 34 Concessional 0 1 10 22 22 24 23 13 6 34 Bilateral 1 13 4 9 9 10 9 9 9 2 Concessional 1 13 4 9 9 10 9 8 9 1 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 8 8 10 10 0 0 0 UNDISBURSED DEBT 5 145 267 407 300 310 228 219 203 162 Official creditors 0 128 267 407 300 310 228 219 203 162 Private creditors 5 17 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 29 261 720 901 981 1,040 1,039 1,027 1,063 1,135 Variable rate LDOD 0 8 7 0 0 0 0 0 0 6 Public sector LDOD 40 282 772 902 982 1,041 1,040 1,028 1,063 1,173 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 3.6 Deutsche mark 0.0 4.2 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc 0.0 5.8 10.8 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 78.2 79.7 81.2 82.0 82.1 82.8 83.2 Multiple currency 0.0 10.8 18.5 18.8 17.3 16.4 16.0 15.9 15.2 13.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 259 HAITI (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 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 .. .. 81 148 -2 135 -16 83 -4 59 Net flows on debt 1 51 39 172 -5 135 21 95 -47 -51 Net change in interest arrears .. .. 8 0 0 0 0 3 4 13 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 .. .. 23 -79 -64 0 -32 -14 37 23 Residual .. .. 11 55 67 0 -5 0 2 74 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.8 5.2 1.4 1.5 0.0 1.5 0.0 0.0 0.0 0.0 Maturity (years) 9.5 19.6 38.9 39.9 0.0 40.0 0.0 0.0 0.0 0.0 Grace period (years) 1.0 6.3 10.4 10.4 0.0 10.5 0.0 0.0 0.0 0.0 Grant element (%) 16.0 32.6 75.0 73.6 0.0 74.1 0.0 0.0 0.0 0.0 Official creditors Interest (%) 3.4 2.8 1.4 1.5 0.0 1.5 0.0 0.0 0.0 0.0 Maturity (years) 43.0 29.8 38.9 39.9 0.0 40.0 0.0 0.0 0.0 0.0 Grace period (years) 7.3 10.3 10.4 10.4 0.0 10.5 0.0 0.0 0.0 0.0 Grant element (%) 55.8 54.5 75.0 73.6 0.0 74.1 0.0 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 51 102 163 0 96 0 0 0 0 Official creditors 0 28 102 163 0 96 0 0 0 0 Private creditors 5 23 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 14 35 30 28 23 19 12 1 0 0 Principal 36 33 39 42 45 46 49 50 50 50 Interest 19 16 17 17 17 17 16 15 14 14 Official creditors Disbursements 14 35 30 28 23 19 12 1 0 0 Principal 36 33 39 42 45 46 49 50 50 50 Interest 19 16 17 17 17 17 16 15 14 14 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 8 8 9 8 9 9 9 9 9 9 Interest 5 4 4 4 4 4 4 3 3 3 Multilateral creditors Disbursements 14 35 30 28 23 19 12 1 0 0 Principal 28 25 30 34 36 37 40 41 41 41 Interest 15 12 13 13 13 13 13 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 0 260 HONDURAS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 111 1,473 3,718 4,851 5,104 5,519 5,570 5,050 5,395 5,641 Long-term debt (LDOD) 111 1,167 3,487 4,318 4,455 4,854 4,981 4,501 4,675 5,005 Public and publicly guaranteed 91 976 3,420 4,059 4,043 4,311 4,421 3,995 4,207 4,595 Private nonguaranteed 19 191 66 259 412 542 560 506 468 411 Use of IMF credit 0 33 32 46 113 210 216 220 197 172 Short-term debt 0 272 199 487 537 454 374 329 524 464 of which interest arrears on LDOD 0 0 89 62 69 53 35 10 45 62 Official creditors 0 0 34 38 40 20 9 2 34 50 Private creditors 0 0 55 24 29 33 26 8 12 12 Memo: principal arrears on LDOD 0 2 190 186 196 149 72 21 74 163 Official creditors 0 0 63 120 115 74 15 0 45 113 Private creditors 0 2 128 66 81 75 56 21 29 49 Memo: export credits 0 0 338 468 273 286 332 277 311 335 TOTAL DEBT FLOWS Disbursements 45 375 457 662 488 810 618 402 288 310 Long-term debt 38 346 429 662 423 706 596 381 288 310 IMF purchases 6 29 29 0 64 104 21 21 0 0 Principal repayments 6 87 211 352 337 311 259 249 289 313 Long-term debt 6 87 176 343 335 308 254 241 254 272 IMF repurchases 0 0 35 9 2 4 5 7 35 41 Net flows on debt 38 296 129 377 193 432 296 134 158 -79 of which short-term debt 0 8 -117 67 43 -66 -63 -20 159 -76 Interest payments (INT) 4 120 178 204 216 186 131 94 108 102 Long-term debt 4 83 157 180 190 159 107 75 95 91 IMF charges 0 1 6 0 0 3 4 4 2 1 Short-term debt 0 36 15 23 26 24 20 16 11 9 Net transfers on debt 35 176 -49 174 -23 246 165 39 50 -181 Total debt service paid (TDS) 10 207 389 555 553 497 390 343 397 414 Long-term debt 10 170 333 523 525 467 361 316 349 363 IMF repurchases and charges 0 1 41 9 2 7 9 11 37 42 Short-term debt (interest only) 0 36 15 23 26 24 20 16 11 9 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 41 284 506 519 353 935 810 526 340 364 Net flow of long-term debt (ex. IMF) 32 259 252 319 88 398 342 140 34 38 Foreign direct investment (net) 8 6 44 122 99 237 282 190 176 198 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 0 19 211 78 166 299 186 197 130 128 Memo: technical coop. grants 6 18 93 76 69 73 123 226 126 101 official net resource flows 27 147 431 395 145 574 508 406 207 224 private net resource flows 14 137 75 124 208 361 302 120 133 140 NET TRANSFERS 37 123 278 269 93 732 634 346 137 163 Interest on long-term debt 4 83 157 180 190 159 107 75 95 91 Profit remittances on FDI 0 78 72 70 70 44 70 105 108 110 Memo: official net transfers 25 116 282 253 -7 449 433 356 131 146 private net transfers 13 7 -4 15 100 283 201 -10 6 17 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 700 2,429 2,848 4,499 5,053 5,260 5,794 6,247 6,413 6,783 Exports of goods, serv. & inc. (XGS) .. 967 1,103 2,421 2,705 2,631 3,010 3,044 3,282 3,572 Worker remit. & comp. of employees 0 2 63 190 225 328 416 540 718 867 Imports of goods & services (MGS) .. 1,306 1,384 2,793 3,081 3,248 3,524 3,654 3,661 3,959 International reserves (RES) 20 159 47 587 824 1,264 1,319 1,421 1,531 1,439 Current account balance .. -317 -51 -272 -148 -241 -276 -339 -242 -279 4. DEBT INDICATORS EDT / XGS (%) .. 152.2 337.0 200.3 188.7 209.8 185.0 165.9 164.4 157.9 EDT / GNI (%) 15.8 60.6 130.5 107.8 101.0 104.9 96.1 80.8 84.1 83.2 TDS / XGS (%) .. 21.4 35.3 22.9 20.5 18.9 13.0 11.3 12.1 11.6 INT / XGS (%) .. 12.4 16.1 8.4 8.0 7.1 4.4 3.1 3.3 2.8 INT / GNI (%) 0.5 4.9 6.2 4.5 4.3 3.5 2.3 1.5 1.7 1.5 RES / EDT (%) 18.3 10.8 1.3 12.1 16.1 22.9 23.7 28.1 28.4 25.5 RES / MGS (months) .. 1.5 0.4 2.5 3.2 4.7 4.5 4.7 5.0 4.4 Short-term / EDT (%) 0.0 18.5 5.4 10.0 10.5 8.2 6.7 6.5 9.7 8.2 Concessional / EDT (%) 49.1 21.8 37.4 49.7 50.0 52.9 52.6 57.9 58.9 63.6 Multilateral / EDT (%) 57.3 31.1 42.5 47.7 46.7 47.4 49.1 50.2 49.4 51.8 261 HONDURAS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 111 1,167 3,487 4,318 4,455 4,854 4,981 4,501 4,675 5,005 Public and publicly guaranteed 91 976 3,420 4,059 4,043 4,311 4,421 3,995 4,207 4,595 Official creditors 88 697 2,978 3,817 3,879 4,174 4,313 3,903 4,094 4,474 Multilateral 63 459 1,581 2,315 2,381 2,614 2,732 2,536 2,668 2,922 Concessional 30 202 536 1,295 1,409 1,737 1,766 1,898 2,068 2,365 Bilateral 24 238 1,396 1,502 1,498 1,560 1,581 1,366 1,426 1,552 Concessional 24 120 855 1,114 1,142 1,181 1,164 1,024 1,109 1,224 Private creditors 4 280 442 242 164 138 107 92 113 121 Bonds 0 0 0 62 0 0 0 0 0 0 Commercial banks 0 205 204 94 92 84 71 59 81 87 Other private 4 75 238 86 72 54 36 33 32 34 Private nonguaranteed 19 191 66 259 412 542 560 506 468 411 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 19 191 66 259 412 542 560 506 468 411 Memo: IBRD 30 152 558 275 235 185 151 127 105 85 IDA 15 64 77 496 579 841 838 901 1,014 1,143 DISBURSEMENTS 38 346 429 662 423 706 596 381 288 310 Public and publicly guaranteed 29 265 421 556 197 451 412 264 164 202 Official creditors 29 151 364 551 194 447 409 260 164 202 Multilateral 21 113 190 478 141 367 372 219 127 159 Concessional 10 37 54 133 117 352 113 216 118 152 Bilateral 7 38 174 72 54 80 36 41 37 43 Concessional 7 12 88 68 43 22 24 29 37 43 Private creditors 0 114 57 5 3 4 4 4 1 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 59 22 5 3 0 1 4 1 0 Other private 0 55 36 0 0 4 3 0 0 0 Private nonguaranteed 10 81 8 106 226 254 184 117 123 108 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 10 81 8 106 226 254 184 117 123 108 Memo: IBRD 10 24 82 0 0 0 0 0 0 0 IDA 2 18 0 95 64 273 38 98 51 45 PRINCIPAL REPAYMENTS 6 87 176 343 335 308 254 241 254 272 Public and publicly guaranteed 3 39 151 280 261 184 88 70 88 106 Official creditors 2 23 143 234 216 173 87 51 87 106 Multilateral 2 20 137 137 120 140 86 43 68 95 Concessional 1 2 16 20 25 27 22 15 17 32 Bilateral 0 2 6 96 95 33 1 8 19 11 Concessional 0 1 2 53 54 14 0 4 15 10 Private creditors 1 16 8 46 46 11 1 19 0 1 Bonds 0 0 0 30 32 0 0 0 0 0 Commercial banks 0 13 4 3 3 6 1 19 0 1 Other private 1 3 4 13 11 5 0 0 0 0 Private nonguaranteed 3 48 25 63 74 124 166 171 166 165 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 48 25 63 74 124 166 171 166 165 Memo: IBRD 1 4 94 50 48 47 27 5 10 21 IDA 0 0 2 2 2 2 2 3 6 9 NET FLOWS ON DEBT 32 259 252 319 88 398 342 140 34 38 Public and publicly guaranteed 26 226 270 276 -64 267 325 194 77 95 Official creditors 27 128 220 317 -21 274 322 209 77 96 Multilateral 20 92 53 341 21 228 286 176 59 64 Concessional 9 35 38 113 91 325 91 201 101 120 Bilateral 7 36 168 -24 -42 47 36 33 18 32 Concessional 7 11 86 15 -11 8 24 25 21 33 Private creditors -1 98 49 -41 -43 -7 3 -15 0 -1 Bonds 0 0 0 -30 -32 0 0 0 0 0 Commercial banks 0 46 18 2 0 -6 0 -15 0 -1 Other private -1 52 32 -13 -11 -1 3 0 0 0 Private nonguaranteed 7 33 -18 43 153 131 18 -54 -43 -57 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 7 33 -18 43 153 131 18 -54 -43 -57 Memo: IBRD 9 20 -12 -50 -48 -47 -27 -5 -10 -21 IDA 2 17 -2 93 62 271 36 94 46 36 262 HONDURAS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 4 83 157 180 190 159 107 75 95 91 Public and publicly guaranteed 3 58 155 160 168 127 76 51 77 78 Official creditors 2 31 150 141 152 125 75 50 76 78 Multilateral 2 24 141 82 91 90 67 44 57 60 Concessional 0 4 11 16 19 19 21 14 17 24 Bilateral 0 7 8 60 60 35 8 6 19 18 Concessional 0 2 1 32 30 20 5 3 16 15 Private creditors 0 27 6 18 16 2 0 1 0 0 Bonds 0 0 0 8 9 0 0 0 0 0 Commercial banks 0 26 5 4 2 1 0 1 0 0 Other private 0 1 1 7 4 1 0 0 0 0 Private nonguaranteed 1 25 1 20 23 32 31 24 18 13 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 25 1 20 23 32 31 24 18 13 Memo: IBRD 1 12 96 23 20 18 15 13 10 8 IDA 0 0 1 3 4 4 6 6 7 8 NET TRANSFERS ON DEBT 29 176 95 139 -102 239 235 65 -61 -53 Public and publicly guaranteed 23 168 114 116 -232 141 249 143 0 17 Official creditors 25 97 71 176 -173 149 246 159 0 18 Multilateral 18 68 -89 259 -71 137 219 132 2 4 Concessional 9 31 27 97 73 306 70 187 84 96 Bilateral 7 29 159 -84 -102 12 27 28 -1 14 Concessional 7 9 85 -17 -40 -12 19 23 6 18 Private creditors -1 71 43 -59 -59 -9 2 -16 0 -1 Bonds 0 0 0 -38 -41 0 0 0 0 0 Commercial banks 0 20 13 -2 -2 -7 0 -16 0 -1 Other private -1 51 31 -20 -16 -2 3 0 0 0 Private nonguaranteed 6 8 -19 23 130 98 -14 -78 -61 -70 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 6 8 -19 23 130 98 -14 -78 -61 -70 Memo: IBRD 8 8 -108 -73 -68 -65 -42 -18 -20 -28 IDA 2 17 -3 90 58 266 30 88 39 28 DEBT SERVICE (LTDS) 10 170 333 523 525 467 361 316 349 363 Public and publicly guaranteed 6 97 307 439 429 311 164 121 164 185 Official creditors 4 54 293 375 367 298 162 101 163 184 Multilateral 4 45 278 219 211 230 153 87 125 155 Concessional 1 6 27 36 44 46 43 29 34 57 Bilateral 0 9 15 156 156 68 9 14 38 28 Concessional 0 3 3 85 84 35 5 6 31 24 Private creditors 2 44 14 64 62 13 1 20 1 1 Bonds 0 0 0 38 41 0 0 0 0 0 Commercial banks 0 39 9 7 5 7 1 20 1 1 Other private 2 4 5 20 16 6 0 0 0 0 Private nonguaranteed 4 73 26 83 96 156 197 195 185 178 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 73 26 83 96 156 197 195 185 178 Memo: IBRD 2 16 191 73 68 65 42 18 20 28 IDA 0 1 3 5 6 7 8 10 13 17 UNDISBURSED DEBT 54 729 664 556 646 678 662 790 820 859 Official creditors 54 716 654 546 638 669 657 789 820 858 Private creditors 0 13 10 10 8 9 5 1 0 0 Memorandum items Concessional LDOD 54 321 1,390 2,409 2,551 2,918 2,930 2,922 3,178 3,589 Variable rate LDOD 19 400 753 775 882 1,030 1,032 914 852 782 Public sector LDOD 91 841 3,313 4,037 4,022 4,291 4,401 3,993 4,206 4,593 Private sector LDOD 19 327 173 281 433 563 580 507 469 412 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 5.9 6.9 7.5 Deutsche mark 0.0 0.0 2.6 2.9 3.1 2.3 2.1 .. .. .. French franc 0.6 0.4 3.1 2.7 2.8 1.7 1.5 .. .. .. Japanese yen 0.0 0.0 8.4 8.9 10.1 9.1 8.2 9.7 9.6 9.6 Pound sterling 0.0 0.0 0.9 0.8 0.7 0.6 0.4 0.0 0.0 0.0 Swiss franc 0.0 0.0 2.1 1.3 1.3 1.0 0.9 0.1 0.2 0.2 U.S.dollars 66.6 62.9 45.2 59.6 57.8 63.6 66.5 65.1 65.3 65.4 Multiple currency 32.8 25.4 34.5 20.0 19.8 17.8 15.9 17.3 15.9 14.9 Special drawing rights 0.0 0.0 0.1 0.1 0.2 0.2 0.4 0.7 1.1 1.3 All other currencies 0.0 11.2 3.1 3.7 4.1 3.6 4.2 1.1 1.1 1.1 263 HONDURAS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 308 109 0 184 181 163 23 0 Debt stock rescheduled .. .. 0 3 0 7 0 0 0 0 Principal rescheduled .. .. 151 100 0 132 134 117 17 0 Official .. .. 68 99 0 124 103 107 15 0 Private .. .. 83 1 0 8 31 10 2 0 Interest rescheduled .. .. 140 3 0 45 47 46 6 1 Official .. .. 78 3 0 43 38 40 5 1 Private .. .. 62 0 0 2 9 6 1 0 Debt forgiven .. .. 10 1 28 32 14 52 30 5 Memo: interest forgiven .. .. 11 0 13 9 5 23 11 3 Debt stock reduction .. .. 41 0 0 0 0 13 0 0 of which debt buyback .. .. 0 0 0 0 0 13 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 332 137 253 415 52 -520 345 246 Net flows on debt 38 296 129 377 193 432 296 134 158 -79 Net change in interest arrears .. .. -83 2 7 -16 -18 -25 35 17 Interest capitalized .. .. 140 3 0 45 47 46 6 1 Debt forgiveness or reduction .. .. -51 -1 -28 -32 -14 -52 -30 -5 Cross-currency valuation .. .. 48 -244 -110 -39 -143 -124 174 226 Residual .. .. 148 -1 191 24 -116 -499 2 86 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.1 6.8 6.5 6.3 2.0 1.2 5.1 1.6 1.8 2.1 Maturity (years) 29.6 23.6 21.2 14.4 34.0 34.5 30.9 37.1 39.4 25.3 Grace period (years) 6.8 6.7 5.9 2.9 8.4 9.8 19.1 9.4 10.4 6.7 Grant element (%) 45.5 26.9 26.5 22.5 63.9 73.3 42.3 71.5 71.3 55.6 Official creditors Interest (%) 4.1 5.9 6.1 6.3 2.0 1.2 5.1 1.6 1.8 2.1 Maturity (years) 29.6 25.2 22.7 14.2 34.0 34.8 30.9 37.1 39.4 25.3 Grace period (years) 6.8 7.1 6.5 2.8 8.4 9.9 19.1 9.4 10.4 6.7 Grant element (%) 45.5 31.5 29.3 22.0 63.9 74.0 42.3 71.5 71.3 55.6 Private creditors Interest (%) 0.0 16.0 9.9 3.6 0.0 6.6 3.6 0.0 0.0 0.0 Maturity (years) 0.0 6.7 7.1 25.5 0.0 8.1 7.5 0.0 0.0 0.0 Grace period (years) 0.0 2.5 0.6 5.0 0.0 1.1 3.0 0.0 0.0 0.0 Grant element (%) 0.0 -22.3 -0.8 45.8 0.0 10.9 24.4 0.0 0.0 0.0 Memorandum items Commitments 23 495 452 449 339 498 422 419 138 211 Official creditors 23 452 410 441 339 492 422 419 138 211 Private creditors 0 43 42 8 0 6 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 207 206 157 108 74 47 30 14 10 4 Principal 335 276 267 235 199 200 200 195 193 175 Interest 145 133 124 114 105 98 92 85 79 74 Official creditors Disbursements 207 206 157 108 74 47 30 14 10 4 Principal 220 191 190 189 164 172 177 176 176 173 Interest 118 113 109 103 98 93 88 82 77 73 Bilateral creditors Disbursements 52 57 37 25 15 10 6 6 4 2 Principal 127 104 97 94 72 77 77 74 73 69 Interest 46 43 40 37 34 32 30 27 25 23 Multilateral creditors Disbursements 155 150 120 83 59 37 23 8 5 2 Principal 93 87 94 95 92 95 99 103 103 104 Interest 73 71 69 67 64 61 58 55 52 50 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 116 85 76 46 35 28 23 18 17 2 Interest 26 20 15 10 8 6 4 3 2 1 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 9 9 9 7 3 3 3 2 1 1 Interest 3 2 2 1 1 1 1 1 1 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 107 77 68 40 32 25 20 16 16 1 Interest 24 17 13 9 7 5 3 2 1 0 264 HUNGARY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 21,201 24,561 28,473 29,874 29,520 30,305 34,958 45,785 Long-term debt (LDOD) .. .. 17,931 21,044 23,693 26,331 25,368 25,682 29,289 36,769 Public and publicly guaranteed .. .. 17,931 15,129 15,904 16,869 14,355 12,697 13,551 14,751 Private nonguaranteed .. .. 0 5,915 7,789 9,462 11,014 12,985 15,738 22,018 Use of IMF credit .. .. 330 160 0 0 0 0 0 0 Short-term debt .. .. 2,941 3,357 4,780 3,543 4,152 4,623 5,668 9,016 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 1,840 1,058 728 419 346 395 496 TOTAL DEBT FLOWS Disbursements .. .. 2,455 4,629 7,054 9,233 6,283 13,455 13,056 15,642 Long-term debt .. .. 2,282 4,629 7,054 9,233 6,283 13,455 13,056 15,642 IMF purchases .. .. 173 0 0 0 0 0 0 0 Principal repayments .. .. 2,546 5,992 5,759 5,991 6,443 12,275 13,560 13,736 Long-term debt .. .. 2,216 5,992 5,598 5,991 6,443 12,275 13,560 13,736 IMF repurchases .. .. 330 0 161 0 0 0 0 0 Net flows on debt .. .. -457 -1,365 2,718 2,005 449 1,651 542 4,426 of which short-term debt .. .. -366 -2 1,423 -1,238 609 471 1,046 2,520 Interest payments (INT) .. .. 1,678 1,685 1,494 1,448 1,495 1,453 1,230 1,443 Long-term debt .. .. 1,528 1,516 1,297 1,303 1,325 1,287 1,100 1,243 IMF charges .. .. 35 8 2 0 0 0 0 0 Short-term debt .. .. 115 161 195 145 170 166 130 200 Net transfers on debt .. .. -2,135 -3,049 1,224 558 -1,045 197 -688 2,983 Total debt service paid (TDS) .. .. 4,224 7,676 7,253 7,438 7,938 13,729 14,790 15,178 Long-term debt .. .. 3,745 7,507 6,895 7,293 7,768 13,562 14,660 14,978 IMF repurchases and charges .. .. 364 8 163 0 0 0 0 0 Short-term debt (interest only) .. .. 115 161 195 145 170 166 130 200 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 380 1,924 4,183 6,559 1,312 4,096 2,347 4,878 Net flow of long-term debt (ex. IMF) .. .. 66 -1,363 1,456 3,243 -160 1,180 -503 1,906 Foreign direct investment (net) .. .. 311 2,224 2,084 2,019 1,694 2,595 2,863 2,506 Portfolio equity flows .. .. 0 979 556 1,191 -369 134 -137 266 Grants (excluding technical coop.) .. .. 3 84 88 106 147 187 125 199 Memo: technical coop. grants .. .. 0 54 79 53 39 35 39 52 official net resource flows .. .. 527 -8 -849 286 -61 -16 117 -271 private net resource flows .. .. -147 1,932 5,032 6,273 1,373 4,112 2,230 5,149 NET TRANSFERS .. .. -1,185 -1,452 747 3,074 -2,035 470 -1,930 -222 Interest on long-term debt .. .. 1,528 1,516 1,297 1,303 1,325 1,287 1,100 1,243 Profit remittances on FDI .. .. 37 1,861 2,140 2,183 2,023 2,338 3,177 3,856 Memo: official net transfers .. .. 343 -204 -1,000 153 -194 -132 19 -381 private net transfers .. .. -1,528 -1,249 1,747 2,921 -1,841 603 -1,949 159 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 31,601 43,041 44,114 45,120 43,806 48,198 61,290 78,512 Exports of goods, serv. & inc. (XGS) .. .. 12,315 26,641 30,377 31,750 35,592 39,079 42,959 52,572 Worker remit. & comp. of employees .. .. 0 213 220 213 281 296 279 295 Imports of goods & services (MGS) .. .. 12,724 28,906 33,986 35,932 39,925 42,668 48,099 60,551 International reserves (RES) .. .. 1,185 8,437 9,348 10,983 11,217 10,755 10,383 12,780 Current account balance .. .. 379 -2,080 -3,391 -3,775 -4,029 -3,236 -4,666 -7,364 4. DEBT INDICATORS EDT / XGS (%) .. .. 172.2 92.2 93.7 94.1 82.9 77.5 81.4 87.1 EDT / GNI (%) .. .. 67.1 57.1 64.5 66.2 67.4 62.9 57.0 58.3 TDS / XGS (%) .. .. 34.3 28.8 23.9 23.4 22.3 35.1 34.4 28.9 INT / XGS (%) .. .. 13.6 6.3 4.9 4.6 4.2 3.7 2.9 2.7 INT / GNI (%) .. .. 5.3 3.9 3.4 3.2 3.4 3.0 2.0 1.8 RES / EDT (%) .. .. 5.6 34.4 32.8 36.8 38.0 35.5 29.7 27.9 RES / MGS (months) .. .. 1.1 3.5 3.3 3.7 3.4 3.0 2.6 2.5 Short-term / EDT (%) .. .. 13.9 13.7 16.8 11.9 14.1 15.3 16.2 19.7 Concessional / EDT (%) .. .. 0.2 1.8 1.8 1.6 1.0 0.4 0.3 0.4 Multilateral / EDT (%) .. .. 11.8 10.1 5.3 5.2 4.8 4.5 4.8 3.2 265 HUNGARY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 17,931 21,044 23,693 26,331 25,368 25,682 29,289 36,769 Public and publicly guaranteed .. .. 17,931 15,129 15,904 16,869 14,355 12,697 13,551 14,751 Official creditors .. .. 2,656 3,135 2,288 2,299 1,948 1,669 1,882 1,750 Multilateral .. .. 2,497 2,473 1,519 1,562 1,424 1,367 1,666 1,455 Concessional .. .. 13 0 0 0 0 0 0 0 Bilateral .. .. 160 661 769 737 524 302 216 295 Concessional .. .. 19 439 525 478 285 112 95 203 Private creditors .. .. 15,275 11,994 13,616 14,570 12,407 11,027 11,669 13,001 Bonds .. .. 4,645 10,618 11,977 12,722 10,652 10,079 10,601 11,122 Commercial banks .. .. 9,642 1,258 1,535 1,821 1,741 949 1,068 1,385 Other private .. .. 988 118 105 28 14 0 0 494 Private nonguaranteed .. .. 0 5,915 7,789 9,462 11,014 12,985 15,738 22,018 Bonds .. .. 0 0 90 203 188 184 199 255 Commercial banks and other .. .. 0 5,915 7,699 9,259 10,826 12,801 15,539 21,763 Memo: IBRD .. .. 1,512 1,520 699 654 582 564 517 253 IDA .. .. 0 0 0 0 0 0 0 0 DISBURSEMENTS .. .. 2,282 4,629 7,054 9,233 6,283 13,455 13,056 15,642 Public and publicly guaranteed .. .. 2,282 1,151 3,079 3,717 1,115 1,440 693 1,480 Official creditors .. .. 669 344 665 356 135 77 240 92 Multilateral .. .. 654 274 567 282 70 65 238 73 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 15 71 98 74 65 12 2 19 Concessional .. .. 2 40 73 17 34 12 2 19 Private creditors .. .. 1,614 807 2,414 3,361 980 1,363 453 1,388 Bonds .. .. 940 424 2,101 2,971 670 1,299 360 1,162 Commercial banks .. .. 574 326 294 385 310 64 93 226 Other private .. .. 99 57 20 4 0 0 0 0 Private nonguaranteed .. .. 0 3,478 3,975 5,516 5,168 12,015 12,364 14,162 Bonds .. .. 0 0 85 133 0 0 0 0 Commercial banks and other .. .. 0 3,478 3,889 5,383 5,168 12,015 12,364 14,162 Memo: IBRD .. .. 268 185 369 31 38 12 1 0 IDA .. .. 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. 2,216 5,992 5,598 5,991 6,443 12,275 13,560 13,736 Public and publicly guaranteed .. .. 2,216 2,985 3,310 2,191 2,512 2,280 1,463 2,893 Official creditors .. .. 145 436 1,602 177 343 280 248 562 Multilateral .. .. 125 375 1,546 98 130 80 119 491 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 19 61 56 78 213 200 129 71 Concessional .. .. 0 6 30 45 184 170 36 23 Private creditors .. .. 2,072 2,549 1,708 2,014 2,169 2,000 1,215 2,331 Bonds .. .. 19 1,616 1,594 1,844 1,847 1,205 1,103 2,228 Commercial banks .. .. 1,894 834 75 90 307 782 112 103 Other private .. .. 158 99 39 80 14 14 0 0 Private nonguaranteed .. .. 0 3,007 2,288 3,800 3,931 9,995 12,097 10,843 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 3,007 2,288 3,800 3,931 9,995 12,097 10,843 Memo: IBRD .. .. 108 217 1,172 55 95 22 64 281 IDA .. .. 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. 66 -1,363 1,456 3,243 -160 1,180 -503 1,906 Public and publicly guaranteed .. .. 66 -1,834 -231 1,527 -1,397 -840 -770 -1,413 Official creditors .. .. 524 -92 -936 180 -208 -203 -8 -470 Multilateral .. .. 529 -102 -979 184 -60 -15 119 -418 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. -5 10 42 -4 -147 -188 -127 -52 Concessional .. .. 2 34 44 -28 -150 -158 -34 -3 Private creditors .. .. -458 -1,742 705 1,347 -1,189 -637 -762 -943 Bonds .. .. 921 -1,192 506 1,127 -1,177 94 -742 -1,066 Commercial banks .. .. -1,320 -508 219 296 2 -718 -20 123 Other private .. .. -59 -42 -20 -76 -14 -14 0 0 Private nonguaranteed .. .. 0 472 1,687 1,716 1,237 2,020 267 3,319 Bonds .. .. 0 0 85 133 0 0 0 0 Commercial banks and other .. .. 0 472 1,601 1,583 1,237 2,020 267 3,319 Memo: IBRD .. .. 160 -33 -802 -24 -57 -10 -63 -280 IDA .. .. 0 0 0 0 0 0 0 0 266 HUNGARY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 1,528 1,516 1,297 1,303 1,325 1,287 1,100 1,243 Public and publicly guaranteed .. .. 1,528 1,179 978 1,002 943 846 693 700 Official creditors .. .. 184 195 152 133 133 117 98 110 Multilateral .. .. 175 163 123 98 95 92 79 89 Concessional .. .. 1 0 0 0 0 0 0 0 Bilateral .. .. 9 32 29 35 38 25 19 20 Concessional .. .. 1 17 17 22 24 11 10 14 Private creditors .. .. 1,344 983 826 869 810 729 595 590 Bonds .. .. 241 898 761 794 726 639 544 537 Commercial banks .. .. 1,034 76 60 70 83 91 51 53 Other private .. .. 69 9 5 5 2 0 0 0 Private nonguaranteed .. .. 0 337 319 300 382 441 408 543 Bonds .. .. 0 0 1 10 18 17 18 22 Commercial banks and other .. .. 0 337 318 290 364 424 390 522 Memo: IBRD .. .. 106 102 70 43 42 35 32 38 IDA .. .. 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. -1,462 -2,878 159 1,940 -1,484 -107 -1,604 663 Public and publicly guaranteed .. .. -1,462 -3,013 -1,209 524 -2,340 -1,686 -1,463 -2,112 Official creditors .. .. 340 -287 -1,088 47 -341 -319 -106 -580 Multilateral .. .. 354 -265 -1,101 86 -155 -107 40 -508 Concessional .. .. -1 0 0 0 0 0 0 0 Bilateral .. .. -14 -22 13 -39 -186 -213 -147 -72 Concessional .. .. 1 17 27 -50 -174 -169 -44 -18 Private creditors .. .. -1,802 -2,725 -121 478 -1,999 -1,367 -1,357 -1,533 Bonds .. .. 681 -2,090 -255 333 -1,903 -544 -1,286 -1,602 Commercial banks .. .. -2,354 -584 159 226 -81 -808 -71 70 Other private .. .. -129 -51 -25 -81 -15 -14 0 0 Private nonguaranteed .. .. 0 135 1,368 1,416 855 1,579 -141 2,776 Bonds .. .. 0 0 84 123 -18 -17 -18 -22 Commercial banks and other .. .. 0 135 1,284 1,292 873 1,596 -123 2,798 Memo: IBRD .. .. 54 -135 -872 -67 -99 -45 -95 -319 IDA .. .. 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. 3,745 7,507 6,895 7,293 7,768 13,562 14,660 14,978 Public and publicly guaranteed .. .. 3,745 4,164 4,288 3,193 3,455 3,126 2,156 3,593 Official creditors .. .. 329 632 1,753 310 476 397 346 672 Multilateral .. .. 300 539 1,669 196 225 172 198 581 Concessional .. .. 1 0 0 0 0 0 0 0 Bilateral .. .. 29 93 85 114 251 225 148 91 Concessional .. .. 1 22 46 67 208 181 46 37 Private creditors .. .. 3,416 3,532 2,535 2,883 2,979 2,729 1,810 2,921 Bonds .. .. 260 2,514 2,356 2,638 2,573 1,843 1,647 2,765 Commercial banks .. .. 2,928 910 135 160 390 872 163 156 Other private .. .. 228 108 44 85 15 14 0 0 Private nonguaranteed .. .. 0 3,344 2,606 4,100 4,313 10,436 12,504 11,386 Bonds .. .. 0 0 1 10 18 17 18 22 Commercial banks and other .. .. 0 3,344 2,606 4,090 4,295 10,419 12,487 11,364 Memo: IBRD .. .. 214 319 1,241 98 137 57 96 319 IDA .. .. 0 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. 2,945 1,295 1,256 983 619 596 711 602 Official creditors .. .. 2,050 987 713 696 407 329 319 344 Private creditors .. .. 895 309 543 288 212 267 392 258 Memorandum items Concessional LDOD .. .. 33 439 525 478 285 112 95 203 Variable rate LDOD .. .. 10,833 9,455 11,467 13,829 15,462 16,352 19,619 26,321 Public sector LDOD .. .. 17,931 14,731 15,275 16,332 13,874 12,261 12,928 13,949 Private sector LDOD .. .. 0 6,313 8,418 9,999 11,495 13,421 16,361 22,820 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 55.1 62.8 72.0 Deutsche mark .. .. 26.3 30.6 34.0 26.6 22.1 .. .. .. French franc .. .. 0.1 1.6 2.2 1.2 1.2 .. .. .. Japanese yen .. .. 25.4 37.4 33.3 29.6 26.4 22.8 18.9 19.3 Pound sterling .. .. 0.3 0.7 0.7 0.6 0.7 0.8 0.8 0.0 Swiss franc .. .. 3.9 3.0 3.0 1.3 0.6 0.6 0.6 0.6 U.S.dollars .. .. 18.5 18.7 19.4 20.9 23.3 19.2 15.6 7.2 Multiple currency .. .. 17.9 2.2 2.3 1.7 1.7 1.5 1.4 0.9 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 7.7 5.8 5.1 18.0 24.0 0.0 0.0 0.0 267 HUNGARY (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 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 -2,699 3,913 1,401 -354 784 4,653 10,827 Net flows on debt .. .. -457 -1,365 2,718 2,005 449 1,651 542 4,426 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 -1,840 1,098 -288 -1,113 -849 1,637 2,057 Residual .. .. 149 506 96 -316 310 -18 2,474 3,517 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 8.9 4.1 5.3 4.8 5.2 5.2 3.8 4.2 Maturity (years) .. .. 9.9 9.2 7.6 7.6 5.8 11.8 8.7 9.6 Grace period (years) .. .. 5.1 5.0 5.8 4.2 4.7 9.5 4.4 9.1 Grant element (%) .. .. 5.0 26.9 19.3 24.6 18.2 29.7 26.7 33.3 Official creditors Interest (%) .. .. 8.4 6.0 5.8 4.2 4.8 5.3 3.5 4.0 Maturity (years) .. .. 12.3 14.0 14.3 16.5 11.9 14.1 19.6 15.0 Grace period (years) .. .. 5.1 3.3 3.7 3.6 8.5 4.3 4.3 3.0 Grant element (%) .. .. 7.6 20.4 22.0 33.5 31.2 26.9 40.2 32.9 Private creditors Interest (%) .. .. 9.4 3.2 5.3 4.8 5.3 5.2 3.9 4.2 Maturity (years) .. .. 7.2 6.7 6.6 6.7 5.3 11.4 5.0 9.4 Grace period (years) .. .. 5.0 5.8 6.1 4.3 4.4 10.4 4.5 9.4 Grant element (%) .. .. 2.0 30.2 18.9 23.7 17.0 30.2 22.1 33.3 Memorandum items Commitments .. .. 3,547 1,209 3,029 3,503 1,010 1,670 697 1,391 Official creditors .. .. 1,889 406 411 330 86 240 177 57 Private creditors .. .. 1,658 804 2,618 3,173 924 1,430 520 1,334 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 277 144 67 25 12 8 4 2 0 0 Principal 6,778 7,892 4,633 4,239 3,929 2,506 1,811 1,751 124 1,512 Interest 1,131 954 709 585 452 381 327 287 164 159 Official creditors Disbursements 103 85 42 25 12 8 4 2 0 0 Principal 108 142 169 171 303 148 130 91 73 60 Interest 87 85 73 64 58 45 39 30 21 18 Bilateral creditors Disbursements 25 12 5 2 0 0 0 0 0 0 Principal 34 44 39 36 32 32 25 6 6 6 Interest 10 9 8 7 6 5 4 3 3 2 Multilateral creditors Disbursements 77 73 37 23 12 8 4 2 0 0 Principal 75 98 129 136 271 116 105 85 67 54 Interest 77 76 65 57 52 40 35 27 19 16 Private creditors Disbursements 174 59 25 0 0 0 0 0 0 0 Principal 6,669 7,750 4,464 4,068 3,626 2,358 1,681 1,660 51 1,452 Interest 1,043 870 636 521 394 336 288 257 142 141 Commercial banks Disbursements 84 34 0 0 0 0 0 0 0 0 Principal 421 135 57 58 187 16 16 389 16 79 Interest 51 41 39 36 34 29 28 17 7 6 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 6,248 7,615 4,408 4,010 3,439 2,342 1,665 1,271 35 1,373 Interest 992 828 597 485 360 307 260 239 135 134 268 INDIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 8,427 20,695 83,628 94,317 97,637 98,313 99,098 97,517 106,313 113,467 Long-term debt (LDOD) 8,144 18,447 72,462 88,606 93,021 94,354 95,636 94,775 101,744 108,731 Public and publicly guaranteed 8,044 18,111 70,974 79,398 84,611 86,410 83,156 83,101 88,165 92,822 Private nonguaranteed 100 336 1,488 9,208 8,409 7,944 12,480 11,674 13,579 15,909 Use of IMF credit 0 977 2,623 664 288 26 0 0 0 0 Short-term debt 283 1,271 8,544 5,046 4,329 3,933 3,462 2,742 4,569 4,736 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 7,861 3,431 3,407 3,495 3,271 3,182 3,445 TOTAL DEBT FLOWS Disbursements 930 3,492 8,344 7,619 10,730 5,619 10,527 4,274 6,712 9,694 Long-term debt 930 2,469 6,590 7,619 10,730 5,619 10,527 4,274 6,712 9,694 IMF purchases 0 1,023 1,754 0 0 0 0 0 0 0 Principal repayments 549 781 3,376 7,549 6,964 6,324 6,686 5,477 9,493 14,314 Long-term debt 344 772 2,650 6,936 6,574 6,063 6,661 5,477 9,493 14,314 IMF repurchases 205 9 726 613 390 262 25 0 0 0 Net flows on debt 381 3,283 6,011 -1,610 3,049 -1,101 3,371 -1,924 -954 -4,453 of which short-term debt 0 573 1,043 -1,680 -717 -396 -471 -720 1,827 167 Interest payments (INT) 198 645 4,811 4,864 5,120 3,782 4,182 3,849 3,785 6,074 Long-term debt 198 506 3,778 4,465 4,769 3,566 3,996 3,737 3,639 5,935 IMF charges 0 4 134 50 25 7 1 0 0 0 Short-term debt 0 134 899 349 327 209 185 112 146 140 Net transfers on debt 183 2,639 1,200 -6,474 -2,072 -4,883 -811 -5,773 -4,739 -10,528 Total debt service paid (TDS) 747 1,426 8,187 12,413 12,084 10,107 10,868 9,326 13,278 20,389 Long-term debt 542 1,278 6,429 11,401 11,342 9,628 10,657 9,214 13,132 20,249 IMF repurchases and charges 205 14 859 663 415 269 26 0 0 0 Short-term debt (interest only) 0 134 899 349 327 209 185 112 146 140 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 779 2,425 4,689 7,365 6,679 4,517 9,304 6,069 2,687 8,492 Net flow of long-term debt (ex. IMF) 586 1,697 3,940 683 4,156 -443 3,867 -1,204 -2,781 -4,620 Foreign direct investment (net) 46 79 237 3,577 2,635 2,169 2,496 3,768 3,700 4,269 Portfolio equity flows 0 0 0 2,556 -601 2,317 2,475 2,952 1,064 8,237 Grants (excluding technical coop.) 147 649 512 549 490 475 466 554 704 606 Memo: technical coop. grants 46 151 341 333 313 297 309 336 351 432 official net resource flows 746 1,557 2,846 144 1,470 1,542 229 919 -3,123 -2,159 private net resource flows 34 868 1,842 7,222 5,209 2,975 9,075 5,151 5,810 10,651 NET TRANSFERS 581 1,907 886 2,310 1,162 338 3,394 -316 -3,252 -179 Interest on long-term debt 198 506 3,778 4,465 4,769 3,566 3,996 3,737 3,639 5,935 Profit remittances on FDI 0 12 24 590 748 614 1,914 2,648 2,300 2,736 Memo: official net transfers 576 1,206 1,350 -1,456 -85 1 -1,193 -378 -4,381 -3,030 private net transfers 5 701 -464 3,766 1,247 336 4,587 62 1,130 2,851 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 60,061 182,201 312,732 406,121 410,267 443,406 453,593 475,990 506,269 597,574 Exports of goods, serv. & inc. (XGS) .. 15,088 25,699 56,593 57,025 64,308 72,762 76,897 93,958 112,409 Worker remit. & comp. of employees 121 2,757 2,384 10,331 9,479 11,124 11,695 11,059 13,751 17,406 Imports of goods & services (MGS) .. 17,451 33,220 63,175 64,810 68,457 81,393 80,552 91,381 105,822 International reserves (RES) 1,023 12,010 5,637 28,385 30,647 36,005 41,059 49,051 71,608 103,737 Current account balance .. -1,785 -7,036 -2,965 -6,903 -3,228 -4,348 177 3,727 8,160 4. DEBT INDICATORS EDT / XGS (%) .. 137.2 325.4 166.7 171.2 152.9 136.2 126.8 113.1 100.9 EDT / GNI (%) 14.0 11.4 26.7 23.2 23.8 22.2 21.8 20.5 21.0 19.0 TDS / XGS (%) .. 9.4 31.9 21.9 21.2 15.7 14.9 12.1 14.1 18.1 INT / XGS (%) .. 4.3 18.7 8.6 9.0 5.9 5.7 5.0 4.0 5.4 INT / GNI (%) 0.3 0.4 1.5 1.2 1.2 0.9 0.9 0.8 0.7 1.0 RES / EDT (%) 12.1 58.0 6.7 30.1 31.4 36.6 41.4 50.3 67.4 91.4 RES / MGS (months) .. 8.3 2.0 5.4 5.7 6.3 6.1 7.3 9.4 11.8 Short-term / EDT (%) 3.4 6.1 10.2 5.4 4.4 4.0 3.5 2.8 4.3 4.2 Concessional / EDT (%) 79.8 74.2 46.2 41.2 41.1 45.4 37.9 37.8 37.6 37.8 Multilateral / EDT (%) 18.5 29.3 26.0 31.2 31.3 31.9 30.7 31.8 27.7 26.0 269 INDIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 8,144 18,447 72,462 88,606 93,021 94,354 95,636 94,775 101,744 108,731 Public and publicly guaranteed 8,044 18,111 70,974 79,398 84,611 86,410 83,156 83,101 88,165 92,822 Official creditors 7,714 16,450 48,337 52,165 53,654 58,545 50,626 49,795 49,803 50,882 Multilateral 1,562 6,070 21,768 29,391 30,516 31,360 30,463 31,054 29,497 29,462 Concessional 1,065 5,244 13,657 18,230 18,875 19,332 19,168 19,742 21,328 22,975 Bilateral 6,153 10,379 26,569 22,775 23,138 27,184 20,163 18,741 20,306 21,420 Concessional 5,658 10,115 25,006 20,607 21,272 25,350 18,341 17,083 18,674 19,919 Private creditors 330 1,661 22,637 27,233 30,957 27,865 32,530 33,306 38,362 41,940 Bonds 2 2 2,613 1,948 5,996 5,722 10,215 10,101 9,987 7,229 Commercial banks 45 1,498 16,130 20,216 20,924 18,514 21,182 22,515 27,801 34,174 Other private 283 161 3,894 5,068 4,037 3,630 1,133 690 574 537 Private nonguaranteed 100 336 1,488 9,208 8,409 7,944 12,480 11,674 13,579 15,909 Bonds 0 0 0 3,802 3,646 2,874 1,515 1,313 1,183 996 Commercial banks and other 100 336 1,488 5,406 4,763 5,070 10,965 10,361 12,396 14,913 Memo: IBRD 496 827 7,685 8,138 7,990 7,816 7,080 7,010 5,082 4,128 IDA 1,065 5,142 13,312 17,912 18,562 18,930 18,888 19,458 21,011 22,632 DISBURSEMENTS 930 2,469 6,590 7,619 10,730 5,619 10,527 4,274 6,712 9,694 Public and publicly guaranteed 905 2,184 6,376 5,733 10,230 5,319 10,227 3,974 6,172 5,113 Official creditors 864 1,511 3,572 3,708 4,464 3,879 3,242 3,607 2,900 3,482 Multilateral 100 863 2,210 2,021 2,040 2,089 2,371 2,462 1,947 2,284 Concessional 60 689 785 856 885 929 1,075 1,214 901 787 Bilateral 764 648 1,361 1,687 2,423 1,790 871 1,144 953 1,197 Concessional 710 540 1,129 1,445 1,887 1,484 681 1,000 824 1,154 Private creditors 41 673 2,804 2,025 5,766 1,441 6,985 367 3,272 1,631 Bonds 0 0 427 650 4,234 0 5,512 0 0 1,348 Commercial banks 16 639 1,983 903 931 845 875 319 3,271 279 Other private 25 33 395 472 601 596 598 48 1 4 Private nonguaranteed 25 285 214 1,886 500 300 300 300 540 4,581 Bonds 0 0 0 1,371 300 0 0 0 240 206 Commercial banks and other 25 285 214 515 200 300 300 300 300 4,375 Memo: IBRD 41 174 1,219 542 535 644 706 803 647 782 IDA 60 652 762 830 866 816 1,054 1,195 886 775 PRINCIPAL REPAYMENTS 344 772 2,650 6,936 6,574 6,063 6,661 5,477 9,493 14,314 Public and publicly guaranteed 319 681 2,332 6,644 6,282 5,155 6,412 5,209 8,873 11,861 Official creditors 266 603 1,237 4,114 3,483 2,811 3,479 3,242 6,727 6,247 Multilateral 40 86 609 1,217 1,295 1,403 1,740 1,423 5,267 4,024 Concessional 0 15 128 274 313 351 387 441 468 545 Bilateral 226 517 629 2,897 2,188 1,409 1,739 1,819 1,460 2,223 Concessional 167 488 558 2,654 1,924 1,165 1,413 1,504 1,133 1,933 Private creditors 53 78 1,094 2,530 2,799 2,344 2,933 1,967 2,146 5,614 Bonds 0 0 280 2 264 361 0 86 142 4,179 Commercial banks 10 34 250 1,159 837 976 2,711 1,402 1,860 1,366 Other private 43 44 564 1,369 1,698 1,008 222 479 144 69 Private nonguaranteed 25 91 318 293 292 907 249 269 620 2,454 Bonds 0 0 0 150 149 765 35 45 370 320 Commercial banks and other 25 91 318 143 143 143 214 224 250 2,133 Memo: IBRD 40 71 472 820 842 899 994 724 3,031 1,871 IDA 0 15 114 250 288 330 367 429 456 532 NET FLOWS ON DEBT 586 1,697 3,940 683 4,156 -443 3,867 -1,204 -2,781 -4,620 Public and publicly guaranteed 586 1,503 4,044 -911 3,947 164 3,815 -1,235 -2,701 -6,748 Official creditors 598 908 2,334 -406 980 1,067 -237 365 -3,827 -2,765 Multilateral 60 777 1,602 804 745 687 631 1,040 -3,320 -1,739 Concessional 60 674 657 583 572 578 689 773 434 242 Bilateral 538 131 732 -1,210 235 381 -868 -675 -507 -1,026 Concessional 543 51 572 -1,209 -37 319 -732 -504 -310 -779 Private creditors -12 595 1,710 -505 2,967 -903 4,052 -1,600 1,126 -3,982 Bonds 0 0 147 648 3,970 -361 5,512 -86 -142 -2,830 Commercial banks 6 605 1,733 -256 94 -131 -1,836 -1,083 1,412 -1,087 Other private -18 -10 -170 -897 -1,097 -412 376 -431 -143 -65 Private nonguaranteed 0 194 -104 1,594 208 -607 51 31 -80 2,127 Bonds 0 0 0 1,221 151 -765 -35 -45 -130 -114 Commercial banks and other 0 194 -104 373 58 158 86 76 50 2,241 Memo: IBRD 1 103 747 -278 -307 -254 -288 79 -2,383 -1,089 IDA 60 637 648 580 578 486 688 766 430 243 270 INDIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 198 506 3,778 4,465 4,769 3,566 3,996 3,737 3,639 5,935 Public and publicly guaranteed 192 476 3,643 4,292 4,302 3,064 3,338 3,395 3,473 5,388 Official creditors 170 351 1,497 1,600 1,555 1,541 1,422 1,296 1,259 871 Multilateral 34 101 738 907 887 875 835 773 739 455 Concessional 7 35 100 136 139 143 142 145 151 164 Bilateral 136 250 759 693 668 666 588 523 520 416 Concessional 110 236 634 539 522 524 469 433 417 372 Private creditors 22 125 2,147 2,692 2,747 1,523 1,916 2,098 2,214 4,516 Bonds 0 0 180 99 118 229 143 342 336 1,388 Commercial banks 3 113 1,751 2,212 2,297 1,030 1,712 1,706 1,859 3,116 Other private 19 12 216 381 332 264 62 51 18 12 Private nonguaranteed 6 30 135 173 467 502 658 342 166 547 Bonds 0 0 0 154 265 243 224 213 164 51 Commercial banks and other 6 30 135 19 202 259 434 129 2 496 Memo: IBRD 27 66 615 590 536 491 429 367 341 177 IDA 7 35 97 131 135 139 139 141 148 161 NET TRANSFERS ON DEBT 388 1,191 161 -3,782 -613 -4,009 -130 -4,941 -6,420 -10,555 Public and publicly guaranteed 394 1,027 401 -5,203 -354 -2,900 477 -4,630 -6,174 -12,135 Official creditors 429 557 837 -2,005 -575 -474 -1,659 -931 -5,086 -3,636 Multilateral 26 676 864 -103 -142 -188 -204 267 -4,058 -2,194 Concessional 52 639 557 447 433 435 546 628 282 78 Bilateral 402 -119 -27 -1,903 -433 -285 -1,455 -1,198 -1,027 -1,443 Concessional 433 -185 -63 -1,748 -559 -204 -1,201 -937 -727 -1,151 Private creditors -34 470 -437 -3,197 221 -2,426 2,136 -3,699 -1,088 -8,499 Bonds 0 0 -33 549 3,853 -589 5,369 -428 -479 -4,218 Commercial banks 3 492 -18 -2,468 -2,204 -1,161 -3,547 -2,789 -448 -4,203 Other private -37 -22 -385 -1,278 -1,428 -676 314 -482 -162 -77 Private nonguaranteed -6 164 -239 1,420 -259 -1,110 -606 -311 -246 1,580 Bonds 0 0 0 1,067 -114 -1,008 -259 -258 -294 -165 Commercial banks and other -6 164 -239 353 -144 -102 -347 -52 48 1,745 Memo: IBRD -26 37 132 -868 -843 -745 -716 -288 -2,724 -1,266 IDA 52 602 551 449 444 347 549 625 282 82 DEBT SERVICE (LTDS) 542 1,278 6,429 11,401 11,342 9,628 10,657 9,214 13,132 20,249 Public and publicly guaranteed 511 1,157 5,975 10,935 10,584 8,219 9,751 8,604 12,346 17,248 Official creditors 436 954 2,734 5,713 5,038 4,352 4,901 4,538 7,986 7,118 Multilateral 74 187 1,347 2,123 2,182 2,277 2,574 2,196 6,006 4,478 Concessional 7 50 229 410 452 494 529 586 619 709 Bilateral 361 767 1,388 3,590 2,856 2,075 2,326 2,342 1,980 2,640 Concessional 277 724 1,192 3,193 2,446 1,689 1,882 1,937 1,550 2,305 Private creditors 75 203 3,241 5,222 5,545 3,866 4,850 4,066 4,360 10,130 Bonds 0 0 460 101 382 589 143 428 479 5,566 Commercial banks 12 147 2,001 3,371 3,134 2,006 4,423 3,108 3,719 4,483 Other private 63 56 780 1,750 2,029 1,271 284 530 163 81 Private nonguaranteed 31 121 453 466 759 1,410 906 611 786 3,001 Bonds 0 0 0 304 414 1,008 259 258 534 371 Commercial banks and other 31 121 453 162 344 402 647 352 252 2,630 Memo: IBRD 67 137 1,087 1,410 1,378 1,389 1,423 1,091 3,372 2,048 IDA 7 50 211 381 423 469 506 570 604 693 UNDISBURSED DEBT 1,893 8,599 26,464 23,445 25,139 22,639 16,333 16,645 17,256 15,363 Official creditors 1,730 7,695 22,840 17,830 15,434 13,853 15,161 15,640 16,787 15,179 Private creditors 162 904 3,623 5,615 9,705 8,786 1,172 1,005 469 185 Memorandum items Concessional LDOD 6,723 15,359 38,662 38,837 40,147 44,682 37,509 36,825 40,001 42,894 Variable rate LDOD 100 790 12,169 24,565 24,761 24,934 30,239 28,063 25,730 27,229 Public sector LDOD 7,720 18,024 73,059 79,518 84,375 85,940 82,680 82,635 87,754 92,469 Private sector LDOD 425 750 2,026 9,753 8,933 8,440 12,956 12,140 13,990 16,262 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 5.5 5.9 5.3 Deutsche mark 9.4 9.9 6.0 5.3 5.4 4.9 3.9 .. .. .. French franc 1.3 2.3 1.7 1.8 1.6 1.3 1.2 .. .. .. Japanese yen 5.1 6.7 9.7 12.2 13.5 15.3 11.4 11.2 11.8 13.0 Pound sterling 24.1 26.6 6.1 4.1 3.9 3.6 3.7 3.5 3.2 2.8 Swiss franc 0.3 0.1 0.6 0.5 0.4 0.3 0.3 0.4 0.4 0.3 U.S.dollars 40.2 39.0 60.7 60.0 60.6 61.3 68.5 70.4 73.8 76.9 Multiple currency 6.2 6.4 11.0 13.0 11.8 10.9 9.1 7.9 3.9 0.8 Special drawing rights 0.0 1.8 4.0 1.1 0.6 0.2 0.3 0.3 0.3 0.3 All other currencies 13.4 9.0 3.9 2.8 2.5 2.2 1.7 0.8 0.8 0.7 271 INDIA (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 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 .. .. 8,222 850 3,320 676 785 -1,582 8,796 7,154 Net flows on debt 381 3,283 6,011 -1,610 3,049 -1,101 3,371 -1,924 -954 -4,453 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 -4,891 -1,495 250 -4,756 -1,708 3,545 3,924 Residual .. .. 3,059 7,351 1,767 1,527 2,170 2,050 6,205 7,684 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.5 5.4 5.4 5.0 3.2 3.9 4.7 3.6 2.3 1.2 Maturity (years) 34.0 32.4 21.9 19.5 9.8 23.2 11.4 23.7 23.8 21.8 Grace period (years) 8.2 7.2 7.9 6.4 5.6 6.4 5.3 6.6 7.2 7.0 Grant element (%) 42.3 40.7 33.9 34.1 31.2 43.4 25.4 45.6 54.8 60.6 Official creditors Interest (%) 2.2 2.5 3.9 3.6 3.6 3.7 5.5 3.6 2.2 0.5 Maturity (years) 35.4 40.0 28.7 27.1 25.9 26.7 24.0 24.4 26.1 25.9 Grace period (years) 8.5 8.3 8.4 7.9 7.4 7.2 6.6 6.7 7.5 7.2 Grant element (%) 45.1 53.8 49.1 50.1 49.6 49.1 33.5 46.9 58.1 70.4 Private creditors Interest (%) 6.3 14.0 6.8 6.7 3.2 4.8 4.3 5.4 2.6 4.1 Maturity (years) 12.9 10.7 15.0 10.4 6.3 3.4 5.0 3.7 5.0 5.9 Grace period (years) 4.5 4.0 7.3 4.7 5.1 2.4 4.7 3.7 4.7 5.9 Grant element (%) 0.0 2.9 18.9 15.0 27.2 11.1 21.2 13.8 27.4 22.9 Memorandum items Commitments 983 5,476 8,698 7,938 11,847 2,557 10,692 5,381 4,893 1,439 Official creditors 921 4,064 4,340 4,322 2,111 2,175 3,636 5,181 4,364 1,144 Private creditors 62 1,413 4,358 3,616 9,736 382 7,056 200 529 295 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 4,745 3,508 2,441 1,762 1,195 706 451 234 152 82 Principal 7,197 11,936 7,038 7,366 5,326 3,510 3,561 3,371 3,397 3,362 Interest 4,090 4,314 3,831 3,749 3,655 3,568 3,479 3,385 3,300 3,217 Official creditors Disbursements 4,631 3,460 2,424 1,756 1,195 706 451 234 152 82 Principal 2,541 2,473 2,811 2,998 3,100 3,153 3,122 3,151 3,226 3,205 Interest 912 935 955 932 905 845 782 718 653 587 Bilateral creditors Disbursements 2,573 1,413 647 366 135 66 38 12 9 0 Principal 1,568 1,413 1,565 1,566 1,524 1,504 1,439 1,429 1,442 1,399 Interest 561 564 543 509 471 432 394 356 319 283 Multilateral creditors Disbursements 2,058 2,048 1,776 1,390 1,060 640 413 222 142 82 Principal 972 1,060 1,247 1,432 1,577 1,648 1,683 1,723 1,784 1,806 Interest 351 371 413 423 434 413 388 362 334 304 Private creditors Disbursements 113 47 17 6 0 0 0 0 0 0 Principal 4,657 9,463 4,227 4,369 2,226 358 439 219 171 157 Interest 3,178 3,379 2,875 2,817 2,751 2,723 2,697 2,667 2,648 2,630 Commercial banks Disbursements 113 47 17 6 0 0 0 0 0 0 Principal 990 352 491 629 197 210 91 71 24 19 Interest 2,583 2,565 2,554 2,543 2,527 2,516 2,507 2,503 2,500 2,499 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3,667 9,111 3,736 3,740 2,029 148 348 148 147 138 Interest 596 813 321 274 224 207 190 164 148 131 272 INDONESIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 4,528 20,938 69,872 136,161 151,236 151,201 144,407 134,045 131,755 134,389 Long-term debt (LDOD) 4,043 18,163 58,242 100,326 122,033 120,923 110,934 103,124 100,084 101,205 Public and publicly guaranteed 3,582 15,021 47,982 55,857 67,305 73,658 69,765 68,719 70,058 73,412 Private nonguaranteed 461 3,142 10,261 44,469 54,728 47,265 41,169 34,405 30,026 27,793 Use of IMF credit 138 0 494 2,970 9,090 10,248 10,838 9,113 8,861 10,276 Short-term debt 346 2,775 11,135 32,865 20,113 20,029 22,635 21,808 22,809 22,908 of which interest arrears on LDOD 7 0 0 0 0 3,500 4,635 5,635 6,409 7,408 Official creditors 7 0 0 0 0 0 8 8 8 8 Private creditors 0 0 0 0 0 3,500 4,627 5,627 6,401 7,400 Memo: principal arrears on LDOD 66 0 1 0 2,710 3,000 3,000 3,000 3,000 9,403 Official creditors 54 0 1 0 0 0 0 0 0 0 Private creditors 11 0 0 0 2,710 3,000 3,000 3,000 3,000 9,403 Memo: export credits 0 0 10,032 20,926 9,603 10,166 10,780 11,111 11,916 14,483 TOTAL DEBT FLOWS Disbursements 674 3,246 10,024 22,454 16,392 9,460 7,165 4,683 5,232 9,703 Long-term debt 636 3,246 10,024 19,425 10,619 8,078 6,043 4,289 3,806 7,778 IMF purchases 38 0 0 3,029 5,772 1,382 1,123 394 1,426 1,925 Principal repayments 123 1,632 5,969 13,010 11,202 11,711 9,296 9,633 12,924 14,259 Long-term debt 120 1,632 5,812 13,010 11,202 11,711 9,296 7,881 10,548 12,889 IMF repurchases 3 0 157 0 0 0 0 1,752 2,376 1,370 Net flows on debt 551 2,280 7,216 10,078 -4,561 -3,834 -659 -5,977 -7,465 -5,455 of which short-term debt 0 667 3,160 635 -9,750 -1,584 1,471 -1,028 227 -900 Interest payments (INT) 46 1,452 3,978 6,726 7,107 5,954 7,385 5,900 4,046 4,195 Long-term debt 46 1,182 3,413 5,116 5,601 4,599 5,702 4,566 3,183 3,392 IMF charges 0 0 59 0 182 366 526 470 263 164 Short-term debt 0 270 506 1,610 1,324 989 1,157 863 600 638 Net transfers on debt 506 828 3,238 3,352 -11,668 -9,788 -8,044 -11,675 -11,512 -9,650 Total debt service paid (TDS) 169 3,084 9,946 19,737 18,310 17,665 16,681 15,532 16,970 18,453 Long-term debt 165 2,814 9,224 18,126 16,804 16,310 14,998 12,447 13,732 16,281 IMF repurchases and charges 3 0 216 0 182 366 526 2,222 2,638 1,534 Short-term debt (interest only) 0 270 506 1,610 1,324 989 1,157 863 600 638 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 686 1,902 5,589 6,314 -5,031 -6,733 -8,454 -6,163 -7,077 -4,294 Net flow of long-term debt (ex. IMF) 517 1,613 4,213 6,414 -583 -3,633 -3,254 -3,592 -6,742 -5,111 Foreign direct investment (net) 83 180 1,093 4,677 -356 -2,745 -4,550 -3,278 -1,513 -597 Portfolio equity flows 0 0 0 -4,987 -4,371 -782 -1,021 442 877 1,131 Grants (excluding technical coop.) 87 109 283 210 279 427 371 265 302 283 Memo: technical coop. grants 26 187 401 373 316 339 422 406 467 483 official net resource flows 441 915 2,666 744 2,975 3,856 2,179 871 -143 -609 private net resource flows 245 987 2,923 5,570 -8,006 -10,589 -10,633 -7,034 -6,934 -3,685 NET TRANSFERS 641 720 -16 -143 -14,173 -15,036 -17,730 -13,887 -13,475 -10,441 Interest on long-term debt 46 1,182 3,413 5,116 5,601 4,599 5,702 4,566 3,183 3,392 Profit remittances on FDI 0 0 2,192 1,341 3,541 3,704 3,574 3,158 3,215 2,754 Memo: official net transfers 421 603 1,081 -1,351 925 1,394 -426 -1,793 -1,991 -2,557 private net transfers 220 117 -1,097 1,208 -15,098 -16,430 -17,304 -12,094 -11,484 -7,884 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 9,698 74,806 109,209 209,440 90,063 129,338 139,253 137,084 167,116 199,028 Exports of goods, serv. & inc. (XGS) .. .. 29,870 65,819 57,718 58,840 74,269 65,915 68,405 71,090 Worker remit. & comp. of employees 0 0 166 725 959 1,109 1,190 1,046 1,259 1,489 Imports of goods & services (MGS) .. .. 33,110 71,017 54,129 53,862 66,903 59,489 60,762 63,935 International reserves (RES) 160 6,803 8,657 17,487 23,606 27,345 29,353 28,104 32,034 36,256 Current account balance .. .. -2,988 -4,889 4,097 5,783 7,992 6,901 8,124 7,534 4. DEBT INDICATORS EDT / XGS (%) .. .. 233.9 206.9 262.0 257.0 194.4 203.4 192.6 189.0 EDT / GNI (%) 46.7 28.0 64.0 65.0 167.9 116.9 103.7 97.8 78.8 67.5 TDS / XGS (%) .. .. 33.3 30.0 31.7 30.0 22.5 23.6 24.8 26.0 INT / XGS (%) .. .. 13.3 10.2 12.3 10.1 9.9 9.0 5.9 5.9 INT / GNI (%) 0.5 1.9 3.6 3.2 7.9 4.6 5.3 4.3 2.4 2.1 RES / EDT (%) 3.5 32.5 12.4 12.8 15.6 18.1 20.3 21.0 24.3 27.0 RES / MGS (months) .. .. 3.1 3.0 5.2 6.1 5.3 5.7 6.3 6.8 Short-term / EDT (%) 7.7 13.3 15.9 24.1 13.3 13.2 15.7 16.3 17.3 17.0 Concessional / EDT (%) 62.2 36.4 26.4 17.7 18.4 21.3 21.0 21.0 24.1 27.4 Multilateral / EDT (%) 0.1 8.8 20.4 11.6 11.8 13.1 13.8 14.5 14.8 14.1 273 INDONESIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 4,043 18,163 58,242 100,326 122,033 120,923 110,934 103,124 100,084 101,205 Public and publicly guaranteed 3,582 15,021 47,982 55,857 67,305 73,658 69,765 68,719 70,058 73,412 Official creditors 3,210 9,563 33,007 42,523 49,074 56,083 55,107 52,948 56,388 60,196 Multilateral 6 1,834 14,285 15,799 17,892 19,733 19,904 19,372 19,439 18,902 Concessional 6 661 1,369 1,581 1,652 1,672 1,642 1,576 1,710 1,905 Bilateral 3,204 7,729 18,722 26,723 31,181 36,350 35,202 33,576 36,949 41,294 Concessional 2,810 6,961 17,088 22,508 26,164 30,494 28,623 26,554 30,085 34,889 Private creditors 372 5,458 14,975 13,334 18,231 17,576 14,658 15,771 13,670 13,216 Bonds 0 199 696 1,191 1,191 971 971 945 779 1,979 Commercial banks 2 2,431 8,606 5,877 10,999 11,781 9,835 11,783 10,002 8,531 Other private 371 2,828 5,673 6,266 6,041 4,824 3,852 3,043 2,889 2,706 Private nonguaranteed 461 3,142 10,261 44,469 54,728 47,265 41,169 34,405 30,026 27,793 Bonds 0 0 120 9,661 9,596 8,433 6,337 4,981 4,511 3,854 Commercial banks and other 461 3,142 10,141 34,808 45,132 38,832 34,832 29,424 25,516 23,940 Memo: IBRD 0 1,040 9,542 9,991 10,692 11,424 11,715 11,435 10,729 9,779 IDA 5 566 842 715 694 682 714 722 794 880 DISBURSEMENTS 636 3,246 10,024 19,425 10,619 8,078 6,043 4,289 3,806 7,778 Public and publicly guaranteed 441 2,551 5,009 6,295 7,405 6,078 3,693 2,289 2,156 3,647 Official creditors 376 1,130 3,969 3,958 5,238 5,809 3,424 2,129 1,792 1,510 Multilateral 4 431 1,794 1,586 2,369 2,557 1,750 1,126 1,198 804 Concessional 4 48 145 35 47 48 108 75 111 148 Bilateral 372 698 2,175 2,372 2,870 3,252 1,674 1,003 594 706 Concessional 372 592 1,979 1,656 2,476 3,136 1,134 981 587 687 Private creditors 66 1,421 1,041 2,337 2,166 269 268 160 364 2,137 Bonds 0 45 0 50 0 0 0 0 300 1,200 Commercial banks 0 1,013 487 1,344 1,851 245 262 112 41 924 Other private 66 363 553 943 315 24 6 48 24 14 Private nonguaranteed 195 695 5,015 13,129 3,215 2,000 2,350 2,000 1,650 4,131 Bonds 0 0 120 3,378 500 0 350 0 150 250 Commercial banks and other 195 695 4,895 9,751 2,715 2,000 2,000 2,000 1,500 3,881 Memo: IBRD 0 331 987 899 1,212 1,495 1,051 546 332 317 IDA 3 42 0 0 0 11 59 39 87 91 PRINCIPAL REPAYMENTS 120 1,632 5,812 13,010 11,202 11,711 9,296 7,881 10,548 12,889 Public and publicly guaranteed 59 939 4,588 5,702 4,161 5,473 3,896 3,123 4,320 5,082 Official creditors 22 324 1,586 3,424 2,542 2,380 1,616 1,523 2,237 2,402 Multilateral 0 38 677 1,671 989 1,077 1,116 1,174 1,489 1,726 Concessional 0 4 24 44 51 59 69 65 66 67 Bilateral 22 286 909 1,754 1,554 1,303 500 349 748 676 Concessional 19 184 611 1,207 1,109 997 334 296 606 414 Private creditors 37 616 3,001 2,277 1,619 3,093 2,280 1,600 2,083 2,680 Bonds 0 5 94 0 0 220 0 26 235 0 Commercial banks 1 190 1,718 1,380 970 2,580 2,106 1,526 1,727 2,571 Other private 37 421 1,190 897 649 292 174 48 120 109 Private nonguaranteed 61 693 1,224 7,309 7,041 6,238 5,400 4,759 6,229 7,807 Bonds 0 0 0 309 641 1,238 2,400 1,350 621 850 Commercial banks and other 61 693 1,224 7,000 6,400 5,000 3,000 3,408 5,608 6,957 Memo: IBRD 0 31 551 1,144 733 762 761 826 1,038 1,267 IDA 0 1 11 20 21 24 26 27 27 27 NET FLOWS ON DEBT 517 1,613 4,213 6,414 -583 -3,633 -3,254 -3,592 -6,742 -5,111 Public and publicly guaranteed 383 1,611 422 594 3,243 605 -203 -834 -2,163 -1,435 Official creditors 354 806 2,382 534 2,696 3,429 1,808 606 -445 -892 Multilateral 4 393 1,117 -85 1,380 1,479 635 -49 -292 -922 Concessional 4 44 122 -9 -4 -11 39 10 45 81 Bilateral 350 412 1,265 619 1,316 1,949 1,174 654 -154 30 Concessional 353 409 1,368 449 1,367 2,139 800 685 -18 273 Private creditors 28 805 -1,961 60 547 -2,824 -2,012 -1,440 -1,718 -543 Bonds 0 40 -94 50 0 -220 0 -26 65 1,200 Commercial banks 0 823 -1,231 -36 881 -2,336 -1,844 -1,414 -1,687 -1,648 Other private 29 -58 -636 46 -334 -268 -168 0 -97 -95 Private nonguaranteed 134 2 3,791 5,821 -3,826 -4,238 -3,050 -2,759 -4,579 -3,676 Bonds 0 0 120 3,070 -141 -1,238 -2,050 -1,350 -471 -600 Commercial banks and other 134 2 3,671 2,751 -3,685 -3,000 -1,000 -1,408 -4,108 -3,076 Memo: IBRD 0 301 436 -245 479 733 290 -280 -706 -950 IDA 3 40 -11 -20 -21 -12 33 12 60 64 274 INDONESIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 46 1,182 3,413 5,116 5,601 4,599 5,702 4,566 3,183 3,392 Public and publicly guaranteed 25 824 2,808 3,215 2,970 3,775 3,767 3,585 2,287 2,323 Official creditors 20 312 1,585 2,095 2,051 2,462 2,605 2,664 1,849 1,948 Multilateral 0 107 990 1,020 1,039 1,229 1,383 1,357 1,295 1,121 Concessional 0 6 16 26 24 24 25 26 21 20 Bilateral 20 205 595 1,075 1,012 1,233 1,222 1,307 553 827 Concessional 18 130 451 745 706 828 810 807 332 625 Private creditors 4 512 1,223 1,120 920 1,313 1,162 921 439 375 Bonds 0 14 62 130 107 133 72 71 32 65 Commercial banks 0 268 699 593 443 857 845 642 351 230 Other private 4 230 462 397 370 323 246 208 56 80 Private nonguaranteed 21 358 605 1,901 2,631 824 1,935 980 896 1,069 Bonds 0 0 0 551 877 824 735 546 462 447 Commercial banks and other 21 358 605 1,350 1,753 0 1,200 434 434 622 Memo: IBRD 0 89 731 704 723 822 950 927 867 736 IDA 0 4 6 5 5 5 5 5 6 6 NET TRANSFERS ON DEBT 471 431 800 1,298 -6,184 -8,232 -8,956 -8,158 -9,926 -8,503 Public and publicly guaranteed 358 787 -2,386 -2,621 273 -3,170 -3,970 -4,419 -4,451 -3,758 Official creditors 334 494 798 -1,561 645 967 -796 -2,058 -2,294 -2,840 Multilateral 4 286 128 -1,105 341 251 -748 -1,406 -1,587 -2,042 Concessional 4 37 105 -35 -28 -35 15 -16 24 61 Bilateral 330 207 670 -456 304 716 -48 -653 -707 -797 Concessional 335 278 917 -296 661 1,311 -10 -122 -350 -352 Private creditors 24 293 -3,184 -1,060 -373 -4,137 -3,174 -2,361 -2,157 -918 Bonds 0 26 -156 -80 -107 -353 -72 -97 33 1,135 Commercial banks 0 555 -1,930 -629 438 -3,193 -2,689 -2,056 -2,037 -1,878 Other private 24 -288 -1,098 -351 -703 -591 -414 -208 -153 -175 Private nonguaranteed 113 -356 3,186 3,919 -6,457 -5,062 -4,985 -3,739 -5,475 -4,745 Bonds 0 0 120 2,518 -1,018 -2,062 -2,785 -1,897 -933 -1,047 Commercial banks and other 113 -356 3,066 1,401 -5,439 -3,000 -2,200 -1,842 -4,542 -3,698 Memo: IBRD 0 212 -294 -949 -244 -89 -659 -1,207 -1,573 -1,686 IDA 3 36 -18 -26 -26 -18 28 7 54 58 DEBT SERVICE (LTDS) 165 2,814 9,224 18,126 16,804 16,310 14,998 12,447 13,732 16,281 Public and publicly guaranteed 83 1,763 7,395 8,916 7,132 9,248 7,663 6,708 6,607 7,405 Official creditors 42 636 3,171 5,519 4,593 4,842 4,221 4,187 4,085 4,350 Multilateral 0 145 1,667 2,691 2,028 2,306 2,499 2,531 2,784 2,846 Concessional 0 11 40 70 75 83 93 91 87 87 Bilateral 42 491 1,504 2,828 2,565 2,536 1,722 1,656 1,301 1,503 Concessional 37 314 1,062 1,952 1,815 1,826 1,144 1,103 937 1,039 Private creditors 42 1,127 4,224 3,397 2,539 4,406 3,442 2,521 2,522 3,055 Bonds 0 19 156 130 107 353 72 97 267 65 Commercial banks 1 458 2,417 1,973 1,413 3,437 2,951 2,168 2,078 2,801 Other private 41 651 1,652 1,294 1,019 616 420 256 176 189 Private nonguaranteed 82 1,051 1,829 9,210 9,672 7,062 7,335 5,739 7,125 8,876 Bonds 0 0 0 860 1,518 2,062 3,135 1,897 1,083 1,297 Commercial banks and other 82 1,051 1,829 8,350 8,153 5,000 4,200 3,842 6,042 7,579 Memo: IBRD 0 120 1,282 1,848 1,456 1,584 1,710 1,753 1,905 2,003 IDA 0 5 18 26 26 29 31 33 33 33 UNDISBURSED DEBT 514 9,483 20,410 19,355 16,395 15,530 11,748 9,891 9,001 6,526 Official creditors 496 7,060 14,369 15,535 15,439 15,044 10,860 9,139 8,458 6,333 Private creditors 18 2,422 6,041 3,821 956 486 888 752 543 193 Memorandum items Concessional LDOD 2,816 7,622 18,457 24,089 27,816 32,166 30,265 28,130 31,795 36,793 Variable rate LDOD 461 5,574 25,978 63,622 80,893 77,585 71,532 67,650 63,326 61,081 Public sector LDOD 3,578 15,021 47,982 55,857 67,305 73,658 69,665 68,459 69,616 72,278 Private sector LDOD 465 3,142 10,261 44,469 54,728 47,265 41,269 34,665 30,468 28,927 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 7.5 9.0 10.4 Deutsche mark 6.0 7.8 5.0 4.7 4.3 3.2 2.8 .. .. .. French franc 5.5 4.0 3.4 3.3 2.8 2.0 1.8 .. .. .. Japanese yen 8.0 20.0 34.6 32.9 32.4 35.5 32.9 27.9 28.2 28.6 Pound sterling 2.1 0.8 1.4 1.8 1.6 1.4 1.2 0.9 0.8 0.7 Swiss franc 0.6 0.7 0.4 0.8 0.6 0.5 0.6 0.6 0.6 0.6 U.S.dollars 46.3 43.5 20.9 27.2 47.5 47.0 50.6 57.5 55.7 54.2 Multiple currency 0.0 8.6 27.3 23.3 5.4 5.4 5.2 4.6 4.7 4.6 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 31.4 14.7 7.0 5.9 5.2 4.8 4.8 0.8 0.8 0.8 275 INDONESIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 0 3,891 5,221 2,461 2,769 3,900 3,032 Debt stock rescheduled .. .. 0 0 3,002 3,300 0 0 1,002 0 Principal rescheduled .. .. 0 0 491 1,477 2,262 2,733 2,441 2,515 Official .. .. 0 0 302 700 1,534 1,885 1,836 1,949 Private .. .. 0 0 189 778 727 848 604 566 Interest rescheduled .. .. 0 0 0 0 0 0 675 408 Official .. .. 0 0 0 0 0 0 551 342 Private .. .. 0 0 0 0 0 0 124 66 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 7,224 15,075 -35 -6,794 -10,362 -2,290 2,634 Net flows on debt 551 2,280 7,216 10,078 -4,561 -3,834 -659 -5,977 -7,465 -5,455 Net change in interest arrears .. .. 0 0 0 3,500 1,135 1,000 774 999 Interest capitalized .. .. 0 0 0 0 0 0 675 408 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 3,078 -5,117 3,537 1,760 -4,574 -4,217 4,180 5,073 Residual .. .. 176 2,263 16,099 -1,461 -2,695 -368 -454 1,610 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.6 8.1 6.0 5.6 4.5 3.6 4.2 4.8 3.7 4.6 Maturity (years) 34.1 19.8 21.6 18.0 19.0 17.4 19.0 22.7 21.7 12.9 Grace period (years) 9.0 5.6 6.0 4.7 5.6 5.4 6.7 5.6 6.0 5.6 Grant element (%) 59.8 17.7 28.9 26.3 34.6 39.7 41.0 36.6 41.4 29.5 Official creditors Interest (%) 2.4 5.4 5.6 6.3 4.5 3.6 2.7 4.8 2.4 2.1 Maturity (years) 35.9 25.6 23.1 19.7 19.0 17.4 26.0 23.1 25.0 19.8 Grace period (years) 9.5 7.3 6.6 4.9 5.6 5.4 7.9 5.7 5.4 4.6 Grant element (%) 62.9 36.4 32.8 22.8 34.6 39.8 56.9 37.0 51.6 50.1 Private creditors Interest (%) 6.0 12.0 7.6 4.9 0.0 4.6 6.7 4.4 8.4 6.5 Maturity (years) 8.1 11.4 16.3 16.1 0.0 14.3 6.9 8.5 9.5 7.9 Grace period (years) 2.0 3.3 4.1 4.6 0.0 4.6 4.6 1.8 8.1 6.3 Grant element (%) 14.1 -9.2 15.5 30.3 0.0 28.6 13.1 20.8 3.7 14.6 Memorandum items Commitments 520 4,277 6,687 3,425 7,375 5,250 1,942 1,444 1,834 2,598 Official creditors 487 2,524 5,190 1,816 7,375 5,209 1,236 1,405 1,444 1,086 Private creditors 33 1,753 1,497 1,608 0 41 705 39 390 1,511 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 2,190 1,616 1,079 709 448 244 156 72 40 15 Principal 13,821 10,888 9,763 8,478 7,039 5,968 6,647 4,102 4,704 3,839 Interest 4,697 4,170 3,627 3,201 2,648 2,285 1,379 1,124 977 762 Official creditors Disbursements 2,064 1,534 1,051 700 447 244 156 72 40 15 Principal 4,837 4,979 4,883 4,686 4,832 4,979 4,504 3,859 3,685 3,564 Interest 2,145 1,992 1,824 1,656 1,478 1,295 1,118 964 827 698 Bilateral creditors Disbursements 1,002 815 502 291 151 75 36 9 7 3 Principal 2,717 2,945 2,907 2,758 2,994 3,194 2,884 2,376 2,310 2,337 Interest 1,121 1,048 980 903 829 747 665 595 533 472 Multilateral creditors Disbursements 1,062 720 549 409 296 169 120 63 33 12 Principal 2,120 2,034 1,976 1,928 1,839 1,785 1,620 1,483 1,375 1,228 Interest 1,024 944 845 752 648 548 453 369 294 226 Private creditors Disbursements 125 82 28 9 1 0 0 0 0 0 Principal 8,984 5,908 4,880 3,792 2,207 989 2,143 243 1,019 275 Interest 2,552 2,177 1,803 1,546 1,170 991 261 160 150 64 Commercial banks Disbursements 96 54 14 6 0 0 0 0 0 0 Principal 2,463 1,650 1,261 383 677 212 753 125 302 62 Interest 189 117 83 64 50 39 28 19 14 10 Other private Disbursements 30 28 14 3 1 0 0 0 0 0 Principal 6,522 4,259 3,619 3,409 1,530 777 1,390 119 717 212 Interest 2,363 2,061 1,720 1,482 1,120 951 233 141 137 54 276 IRAN, ISLAMIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 4,500 9,020 11,845 14,127 9,905 7,961 7,463 9,135 11,601 Long-term debt (LDOD) .. 4,500 1,797 8,492 9,624 6,287 4,953 5,445 6,778 8,397 Public and publicly guaranteed .. 4,500 1,797 8,285 7,712 5,732 4,690 5,275 6,559 8,209 Private nonguaranteed .. 0 0 207 1,912 556 263 170 219 188 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt .. 0 7,224 3,354 4,503 3,618 3,008 2,018 2,357 3,204 of which interest arrears on LDOD .. 0 456 1 1 1 0 0 0 0 Official creditors .. 0 6 0 0 0 0 0 0 0 Private creditors .. 0 449 1 1 1 0 0 0 0 Memo: principal arrears on LDOD .. 1 1,517 38 33 32 0 0 0 0 Official creditors .. 1 29 0 0 0 0 0 0 0 Private creditors .. 0 1,488 38 33 32 0 0 0 0 Memo: export credits .. 0 7,826 9,778 3,191 2,917 2,112 1,864 1,682 2,461 TOTAL DEBT FLOWS Disbursements .. 264 139 924 3,259 1,296 1,448 1,917 1,930 2,390 Long-term debt .. 264 139 924 3,259 1,296 1,448 1,917 1,930 2,390 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments .. 527 225 5,286 2,256 4,602 2,637 880 1,103 1,260 Long-term debt .. 527 225 5,286 2,256 4,602 2,637 880 1,103 1,260 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt .. -263 2,480 -5,763 2,152 -4,191 -1,798 46 1,166 1,977 of which short-term debt .. 0 2,566 -1,401 1,149 -885 -609 -990 339 847 Interest payments (INT) .. 431 430 980 806 668 588 401 355 394 Long-term debt .. 431 28 792 603 425 408 300 296 314 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt .. 0 402 188 203 244 180 101 59 80 Net transfers on debt .. -694 2,050 -6,743 1,347 -4,859 -2,386 -355 811 1,583 Total debt service paid (TDS) .. 959 655 6,266 3,062 5,270 3,225 1,281 1,458 1,654 Long-term debt .. 959 253 6,078 2,859 5,026 3,045 1,181 1,399 1,574 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) .. 0 402 188 203 244 180 101 59 80 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. -181 -371 -4,251 1,057 -3,234 -1,113 1,126 1,156 1,314 Net flow of long-term debt (ex. IMF) .. -263 -86 -4,362 1,003 -3,306 -1,188 1,036 827 1,130 Foreign direct investment (net) .. 81 -362 53 24 35 39 55 276 120 Portfolio equity flows .. 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. 1 76 58 30 37 36 35 53 64 Memo: technical coop. grants .. 19 99 81 94 85 64 61 60 75 official net resource flows .. -84 21 -4,022 -813 -2,084 -1,305 15 113 164 private net resource flows .. -97 -392 -228 1,870 -1,150 192 1,111 1,043 1,151 NET TRANSFERS .. -612 -399 -5,043 454 -3,659 -1,521 826 860 1,000 Interest on long-term debt .. 431 28 792 603 425 408 300 296 314 Profit remittances on FDI .. 0 0 0 0 0 0 0 0 0 Memo: official net transfers .. -149 7 -4,558 -1,136 -2,343 -1,494 -74 37 91 private net transfers .. -463 -406 -485 1,590 -1,316 -27 899 822 909 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 93,270 120,782 107,233 101,840 92,670 100,582 121,691 113,912 137,321 Exports of goods, serv. & inc. (XGS) .. 14,073 20,197 20,039 15,141 22,427 30,131 28,174 33,935 43,094 Worker remit. & comp. of employees .. 0 0 400 500 350 320 326 333 340 Imports of goods & services (MGS) .. 16,509 22,370 18,219 17,777 16,363 18,107 22,343 30,841 39,626 International reserves (RES) .. 12,783 .. .. .. .. .. .. .. .. Current account balance .. -2,438 327 2,213 -2,139 6,589 12,645 5,881 3,961 2,063 4. DEBT INDICATORS EDT / XGS (%) .. 32.0 44.7 59.1 93.3 44.2 26.4 26.5 26.9 26.9 EDT / GNI (%) .. 4.8 7.5 11.0 13.9 10.7 7.9 6.1 8.0 8.4 TDS / XGS (%) .. 6.8 3.2 31.3 20.2 23.5 10.7 4.5 4.3 3.8 INT / XGS (%) .. 3.1 2.1 4.9 5.3 3.0 2.0 1.4 1.0 0.9 INT / GNI (%) .. 0.5 0.4 0.9 0.8 0.7 0.6 0.3 0.3 0.3 RES / EDT (%) .. 284.0 .. .. .. .. .. .. .. .. RES / MGS (months) .. 9.3 .. .. .. .. .. .. .. .. Short-term / EDT (%) .. 0.0 80.1 28.3 31.9 36.5 37.8 27.0 25.8 27.6 Concessional / EDT (%) .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. 13.8 1.3 4.4 3.6 5.0 6.5 6.2 4.5 3.1 277 IRAN, ISLAMIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 4,500 1,797 8,492 9,624 6,287 4,953 5,445 6,778 8,397 Public and publicly guaranteed .. 4,500 1,797 8,285 7,712 5,732 4,690 5,275 6,559 8,209 Official creditors .. 903 225 5,902 5,109 3,020 1,625 1,197 1,301 1,493 Multilateral .. 621 116 525 508 495 514 465 409 360 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 282 110 5,377 4,601 2,525 1,111 732 892 1,133 Concessional .. 264 110 765 725 629 512 429 529 771 Private creditors .. 3,597 1,571 2,383 2,603 2,712 3,065 4,078 5,257 6,716 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 1,055 1,055 65 520 848 1,041 1,682 2,484 2,906 Other private .. 2,542 516 2,318 2,083 1,865 2,024 2,397 2,773 3,810 Private nonguaranteed .. 0 0 207 1,912 556 263 170 219 188 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 207 1,912 556 263 170 219 188 Memo: IBRD 0 621 86 421 433 437 481 456 400 350 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS .. 264 139 924 3,259 1,296 1,448 1,917 1,930 2,390 Public and publicly guaranteed .. 264 139 924 1,350 1,296 1,448 1,917 1,780 2,390 Official creditors .. 4 30 318 281 185 443 255 303 268 Multilateral .. 4 30 91 39 86 128 47 12 21 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 0 0 227 242 98 315 208 291 248 Concessional .. 0 0 222 73 21 62 89 182 172 Private creditors .. 261 109 606 1,070 1,111 1,005 1,662 1,477 2,121 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 64 472 360 268 824 900 790 Other private .. 261 109 542 598 752 737 838 577 1,332 Private nonguaranteed .. 0 0 0 1,909 0 0 0 150 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 0 1,909 0 0 0 150 0 Memo: IBRD 0 4 0 78 28 74 114 44 12 14 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. 527 225 5,286 2,256 4,602 2,637 880 1,103 1,260 Public and publicly guaranteed .. 527 225 5,256 2,053 3,245 2,344 788 1,001 1,210 Official creditors .. 89 86 4,399 1,123 2,305 1,785 275 243 169 Multilateral .. 70 67 86 89 100 108 71 70 71 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 19 18 4,313 1,034 2,205 1,676 204 173 97 Concessional .. 9 18 50 128 149 127 150 120 19 Private creditors .. 439 139 858 929 940 559 513 758 1,041 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 45 0 70 14 21 65 132 271 513 Other private .. 394 139 788 915 919 494 380 487 528 Private nonguaranteed .. 0 0 30 203 1,357 293 93 101 50 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 30 203 1,357 293 93 101 50 Memo: IBRD 0 70 67 29 50 70 70 70 69 63 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. -263 -86 -4,362 1,003 -3,306 -1,188 1,036 827 1,130 Public and publicly guaranteed .. -263 -86 -4,332 -702 -1,949 -896 1,129 778 1,180 Official creditors .. -85 -56 -4,081 -843 -2,121 -1,342 -20 60 99 Multilateral .. -66 -37 5 -51 -14 19 -23 -58 -51 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. -19 -18 -4,086 -792 -2,107 -1,361 3 118 150 Concessional .. -9 -18 172 -55 -128 -65 -61 62 153 Private creditors .. -178 -30 -252 140 172 446 1,149 718 1,081 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. -45 0 -6 458 339 203 692 629 277 Other private .. -133 -30 -246 -318 -167 242 457 90 804 Private nonguaranteed .. 0 0 -30 1,706 -1,357 -293 -93 49 -50 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 -30 1,706 -1,357 -293 -93 49 -50 Memo: IBRD 0 -66 -67 49 -22 4 44 -25 -56 -49 IDA 0 0 0 0 0 0 0 0 0 0 278 IRAN, ISLAMIC REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 431 28 792 603 425 408 300 296 314 Public and publicly guaranteed .. 431 28 777 492 394 392 290 291 308 Official creditors .. 65 14 535 323 259 189 88 76 72 Multilateral .. 49 10 38 31 40 44 41 36 29 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 16 4 497 292 219 144 47 39 43 Concessional .. 14 4 39 32 31 21 27 13 16 Private creditors .. 366 14 242 169 135 204 202 215 235 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 153 0 5 16 12 82 81 92 124 Other private .. 213 14 237 153 123 122 120 123 111 Private nonguaranteed .. 0 0 15 111 31 16 10 6 6 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 15 111 31 16 10 6 6 Memo: IBRD 0 49 10 26 19 33 40 41 36 29 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. -694 -114 -5,154 400 -3,730 -1,597 736 531 816 Public and publicly guaranteed .. -694 -114 -5,109 -1,195 -2,343 -1,288 839 488 872 Official creditors .. -150 -69 -4,616 -1,166 -2,380 -1,530 -108 -16 27 Multilateral .. -116 -47 -33 -81 -53 -25 -64 -94 -80 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. -34 -22 -4,583 -1,085 -2,326 -1,506 -44 78 107 Concessional .. -24 -22 133 -87 -159 -86 -88 49 137 Private creditors .. -544 -44 -494 -29 37 242 947 503 845 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. -198 0 -11 442 326 122 610 536 152 Other private .. -346 -44 -482 -471 -290 120 337 -33 693 Private nonguaranteed .. 0 0 -45 1,595 -1,388 -308 -103 43 -56 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 -45 1,595 -1,388 -308 -103 43 -56 Memo: IBRD 0 -116 -77 23 -41 -29 5 -66 -92 -78 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. 959 253 6,078 2,859 5,026 3,045 1,181 1,399 1,574 Public and publicly guaranteed .. 959 253 6,033 2,545 3,639 2,736 1,078 1,292 1,518 Official creditors .. 154 99 4,934 1,447 2,564 1,973 363 319 241 Multilateral .. 119 77 124 120 140 152 112 106 101 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 34 22 4,810 1,327 2,424 1,821 252 212 141 Concessional .. 24 22 89 160 180 148 177 133 35 Private creditors .. 805 154 1,099 1,098 1,075 763 714 973 1,276 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 198 0 75 30 33 147 213 364 637 Other private .. 607 154 1,024 1,068 1,041 616 501 610 639 Private nonguaranteed .. 0 0 45 314 1,388 308 103 107 56 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 45 314 1,388 308 103 107 56 Memo: IBRD 0 119 77 54 69 103 109 110 105 92 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT .. 1,173 1,512 3,943 3,186 3,767 5,013 5,215 5,351 4,718 Official creditors .. 63 250 1,038 707 582 1,325 1,202 1,146 1,095 Private creditors .. 1,109 1,262 2,905 2,478 3,185 3,688 4,013 4,205 3,623 Memorandum items Concessional LDOD .. 264 110 765 725 629 512 429 529 771 Variable rate LDOD .. 1,706 1,273 7,959 8,994 5,625 4,287 4,609 5,676 6,964 Public sector LDOD .. 4,500 1,797 8,173 7,712 5,722 4,670 5,258 6,542 8,193 Private sector LDOD .. 0 0 319 1,913 565 283 187 235 204 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 23.5 34.6 42.8 Deutsche mark .. 15.5 0.0 13.4 9.2 6.7 6.5 .. .. .. French franc .. 8.8 0.7 2.4 2.0 1.4 0.7 .. .. .. Japanese yen .. 9.0 4.2 7.5 8.3 9.4 9.4 7.5 9.4 12.6 Pound sterling .. 0.9 0.0 0.0 0.0 0.1 0.6 0.5 0.5 0.4 Swiss franc .. 0.0 0.0 0.7 0.9 2.4 3.8 6.0 6.4 6.8 U.S.dollars .. 43.4 88.6 67.2 75.8 75.0 68.6 61.7 48.8 37.2 Multiple currency .. 13.8 6.4 5.1 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 0.0 0.0 All other currencies .. 8.6 0.1 3.6 3.9 5.0 10.3 0.7 0.3 0.2 279 IRAN, ISLAMIC REPUBLIC OF (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 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 .. .. 2,502 -4,856 2,282 -4,222 -1,945 -498 1,671 2,466 Net flows on debt .. -263 2,480 -5,763 2,152 -4,191 -1,798 46 1,166 1,977 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 0 0 0 0 Cross-currency valuation .. .. -6 -250 84 -32 -139 -29 443 408 Residual .. .. 27 1,157 45 0 -7 -515 62 81 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 0.0 8.3 6.6 5.7 6.4 5.9 4.6 4.0 2.4 Maturity (years) .. 0.0 9.5 9.7 7.9 10.4 11.4 9.6 10.5 11.4 Grace period (years) .. 0.0 4.0 2.1 2.3 2.5 3.5 2.6 2.9 3.0 Grant element (%) .. 0.0 6.9 13.7 16.0 15.7 19.2 23.1 25.1 36.0 Official creditors Interest (%) .. 0.0 7.3 0.0 7.1 7.6 4.9 4.9 5.6 2.4 Maturity (years) .. 0.0 13.5 0.0 9.5 10.3 13.4 11.1 14.0 16.9 Grace period (years) .. 0.0 5.0 0.0 5.4 2.8 4.4 3.9 4.4 3.6 Grant element (%) .. 0.0 14.4 0.0 13.3 9.7 27.1 24.4 21.8 45.0 Private creditors Interest (%) .. 0.0 8.6 6.6 5.7 6.2 6.6 4.5 3.4 2.4 Maturity (years) .. 0.0 8.3 9.7 7.9 10.4 10.2 9.4 9.1 10.6 Grace period (years) .. 0.0 3.7 2.1 2.3 2.5 2.8 2.5 2.3 2.9 Grant element (%) .. 0.0 4.7 13.7 16.0 16.3 14.4 23.0 26.4 34.7 Memorandum items Commitments .. 0 1,241 277 683 2,146 2,809 2,288 1,549 1,555 Official creditors .. 0 280 0 15 187 1,073 225 445 200 Private creditors .. 0 961 277 668 1,959 1,736 2,063 1,104 1,355 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 2,521 1,251 534 192 72 47 34 19 11 2 Principal 2,330 1,706 1,591 1,498 1,333 1,204 1,056 818 675 356 Interest 398 340 277 218 166 122 84 55 30 17 Official creditors Disbursements 360 256 157 101 72 47 34 19 11 2 Principal 225 249 274 272 267 258 236 186 179 95 Interest 64 61 55 47 40 32 24 18 13 9 Bilateral creditors Disbursements 283 173 83 44 28 16 11 8 6 1 Principal 150 165 199 197 191 189 187 153 145 61 Interest 43 43 40 35 29 24 18 13 8 5 Multilateral creditors Disbursements 78 83 74 56 45 31 23 11 4 2 Principal 75 85 75 75 75 69 49 34 34 34 Interest 20 18 15 13 11 8 6 5 5 4 Private creditors Disbursements 2,161 995 376 91 0 0 0 0 0 0 Principal 2,105 1,456 1,317 1,226 1,066 946 820 631 496 261 Interest 334 278 222 170 126 90 60 37 17 8 Commercial banks Disbursements 937 414 158 28 0 0 0 0 0 0 Principal 1,112 691 569 506 444 375 311 197 156 74 Interest 95 76 61 46 33 22 14 8 4 1 Other private Disbursements 1,224 580 218 63 0 0 0 0 0 0 Principal 993 766 748 720 622 570 509 434 340 187 Interest 239 202 161 124 93 68 46 29 13 7 280 JAMAICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 982 1,913 4,746 3,759 3,884 3,912 4,705 5,363 5,479 5,584 Long-term debt (LDOD) 982 1,505 4,043 2,957 3,149 3,044 3,857 4,398 4,680 4,593 Public and publicly guaranteed 160 1,430 4,009 2,769 2,969 2,878 3,755 4,304 4,595 4,516 Private nonguaranteed 822 75 34 188 179 166 103 94 86 77 Use of IMF credit 0 309 357 118 105 83 60 40 24 9 Short-term debt 0 98 346 685 631 784 787 925 775 982 of which interest arrears on LDOD 0 0 124 73 74 120 144 151 164 190 Official creditors 0 0 87 66 67 113 122 110 107 119 Private creditors 0 0 37 7 7 7 22 41 56 71 Memo: principal arrears on LDOD 0 27 157 158 163 158 130 73 78 99 Official creditors 0 8 84 133 137 133 110 66 68 80 Private creditors 0 19 73 25 26 24 20 7 10 19 Memo: export credits 0 0 651 506 225 213 210 183 141 148 TOTAL DEBT FLOWS Disbursements 184 363 348 190 404 209 904 1,037 613 216 Long-term debt 180 363 292 190 404 209 904 1,037 613 216 IMF purchases 4 0 56 0 0 0 0 0 0 0 Principal repayments 170 121 401 435 314 408 442 422 509 510 Long-term debt 170 102 290 400 298 389 423 404 490 494 IMF repurchases 0 19 111 35 17 19 19 18 19 16 Net flows on debt 13 234 -99 -109 34 -91 441 746 -59 -113 of which short-term debt 0 -8 -45 135 -55 108 -21 131 -163 181 Interest payments (INT) 63 159 260 193 175 194 261 319 339 314 Long-term debt 63 121 202 154 136 155 208 284 319 298 IMF charges 0 23 34 7 5 4 4 3 1 0 Short-term debt 0 15 24 33 34 35 49 33 19 16 Net transfers on debt -50 75 -359 -303 -141 -285 180 427 -398 -427 Total debt service paid (TDS) 234 280 662 628 490 602 703 741 848 824 Long-term debt 234 223 492 555 434 543 631 687 810 792 IMF repurchases and charges 0 42 145 41 22 23 23 21 20 16 Short-term debt (interest only) 0 15 24 33 34 35 49 33 19 16 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 174 301 257 34 568 368 994 1,317 642 472 Net flow of long-term debt (ex. IMF) 10 261 2 -210 107 -180 481 633 123 -278 Foreign direct investment (net) 162 28 138 203 369 524 468 614 481 721 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 13 117 41 93 25 45 70 38 29 Memo: technical coop. grants 5 17 33 37 32 34 32 37 46 39 official net resource flows 14 293 165 -208 -34 -85 83 -38 99 -41 private net resource flows 160 9 92 242 602 454 911 1,356 544 513 NET TRANSFERS 111 66 -135 -299 248 -14 497 733 -111 -152 Interest on long-term debt 63 121 202 154 136 155 208 284 319 298 Profit remittances on FDI 0 114 189 179 184 228 290 301 434 326 Memo: official net transfers 12 247 0 -331 -141 -187 -37 -152 1 -140 private net transfers 99 -181 -135 32 389 172 534 885 -112 -12 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,344 2,450 4,158 7,314 7,474 7,409 7,622 7,671 7,846 7,526 Exports of goods, serv. & inc. (XGS) .. 1,472 2,461 4,189 4,195 4,324 4,571 4,510 4,573 5,004 Worker remit. & comp. of employees 0 96 229 730 758 790 892 1,058 1,260 1,398 Imports of goods & services (MGS) .. 1,678 2,928 4,504 4,502 4,507 4,970 5,243 5,603 5,685 International reserves (RES) 139 105 168 682 709 555 1,054 1,901 1,645 1,195 Current account balance .. -136 -312 -332 -334 -216 -367 -759 -1,074 -761 4. DEBT INDICATORS EDT / XGS (%) .. 129.9 192.9 89.7 92.6 90.5 102.9 118.9 119.8 111.6 EDT / GNI (%) 73.1 78.1 114.2 51.4 52.0 52.8 61.7 69.9 69.8 74.2 TDS / XGS (%) .. 19.0 26.9 15.0 11.7 13.9 15.4 16.4 18.6 16.5 INT / XGS (%) .. 10.8 10.6 4.6 4.2 4.5 5.7 7.1 7.4 6.3 INT / GNI (%) 4.7 6.5 6.3 2.6 2.3 2.6 3.4 4.2 4.3 4.2 RES / EDT (%) 14.2 5.5 3.5 18.1 18.3 14.2 22.4 35.4 30.0 21.4 RES / MGS (months) .. 0.8 0.7 1.8 1.9 1.5 2.5 4.4 3.5 2.5 Short-term / EDT (%) 0.0 5.1 7.3 18.2 16.2 20.0 16.7 17.3 14.1 17.6 Concessional / EDT (%) 2.0 20.3 30.0 28.5 27.3 26.8 22.4 17.4 17.1 18.4 Multilateral / EDT (%) 3.0 14.9 24.7 26.8 26.3 26.7 25.9 22.6 25.4 25.2 281 JAMAICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 982 1,505 4,043 2,957 3,149 3,044 3,857 4,398 4,680 4,593 Public and publicly guaranteed 160 1,430 4,009 2,769 2,969 2,878 3,755 4,304 4,595 4,516 Official creditors 59 920 3,454 2,419 2,377 2,347 2,440 2,250 2,400 2,450 Multilateral 30 284 1,174 1,008 1,021 1,043 1,218 1,213 1,392 1,407 Concessional 0 79 180 131 127 126 155 144 157 192 Bilateral 29 636 2,280 1,412 1,357 1,304 1,222 1,038 1,008 1,043 Concessional 19 310 1,244 941 932 923 900 791 781 836 Private creditors 101 510 555 349 592 531 1,315 2,053 2,195 2,066 Bonds 83 19 0 77 327 263 1,004 1,810 1,943 1,821 Commercial banks 17 384 325 221 208 206 260 187 184 176 Other private 0 108 230 51 57 62 51 56 68 69 Private nonguaranteed 822 75 34 188 179 166 103 94 86 77 Bonds 0 0 0 55 55 55 0 0 0 0 Commercial banks and other 822 75 34 133 124 111 103 94 86 77 Memo: IBRD 30 176 672 431 409 393 415 443 495 476 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 180 363 292 190 404 209 904 1,037 613 216 Public and publicly guaranteed 15 338 292 120 404 209 904 1,037 613 216 Official creditors 14 317 253 108 129 168 311 173 265 142 Multilateral 7 93 110 87 84 146 255 138 236 69 Concessional 0 33 9 9 5 2 18 5 15 27 Bilateral 7 224 144 21 45 22 57 35 29 74 Concessional 2 84 103 9 13 21 25 23 18 59 Private creditors 1 21 39 12 275 41 593 865 348 74 Bonds 0 0 0 0 250 0 553 819 300 50 Commercial banks 1 4 0 12 14 31 24 31 32 12 Other private 0 17 39 0 11 9 16 15 16 11 Private nonguaranteed 165 25 0 70 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 165 25 0 70 0 0 0 0 0 0 Memo: IBRD 7 55 35 26 31 64 98 91 84 15 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 170 102 290 400 298 389 423 404 490 494 Public and publicly guaranteed 6 92 281 395 289 376 360 395 482 486 Official creditors 2 37 205 356 255 278 273 281 205 212 Multilateral 1 11 100 136 111 116 122 109 109 119 Concessional 0 0 8 23 10 10 10 15 8 8 Bilateral 1 26 105 220 144 162 151 172 96 93 Concessional 1 2 19 97 64 101 76 80 68 63 Private creditors 4 55 76 39 34 98 86 114 277 273 Bonds 2 9 0 0 0 65 13 0 230 226 Commercial banks 2 16 1 24 27 31 47 103 36 32 Other private 0 31 75 15 6 2 27 12 10 15 Private nonguaranteed 164 10 8 5 9 13 64 9 9 9 Bonds 0 0 0 0 0 0 55 0 0 0 Commercial banks and other 164 10 8 5 9 13 9 9 9 9 Memo: IBRD 1 6 62 72 72 75 60 52 44 46 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 10 261 2 -210 107 -180 481 633 123 -278 Public and publicly guaranteed 9 246 10 -275 115 -167 545 642 131 -269 Official creditors 12 280 48 -248 -126 -110 38 -108 60 -70 Multilateral 6 82 9 -49 -28 30 132 29 127 -50 Concessional 0 33 1 -14 -4 -8 8 -10 7 19 Bilateral 6 198 39 -199 -98 -140 -94 -137 -67 -20 Concessional 1 82 84 -88 -51 -81 -51 -57 -50 -4 Private creditors -3 -34 -38 -27 242 -57 507 750 71 -199 Bonds -2 -9 0 0 250 -65 540 819 70 -176 Commercial banks -1 -12 -1 -12 -13 0 -23 -72 -4 -19 Other private 0 -13 -37 -15 5 8 -11 4 5 -4 Private nonguaranteed 1 15 -8 65 -9 -13 -64 -9 -9 -9 Bonds 0 0 0 0 0 0 -55 0 0 0 Commercial banks and other 1 15 -8 65 -9 -13 -9 -9 -9 -9 Memo: IBRD 6 50 -26 -46 -41 -11 37 40 40 -31 IDA 0 0 0 0 0 0 0 0 0 0 282 JAMAICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 63 121 202 154 136 155 208 284 319 298 Public and publicly guaranteed 9 115 200 141 124 142 194 273 310 297 Official creditors 2 45 165 123 108 101 120 114 98 99 Multilateral 1 16 85 69 60 58 65 70 66 67 Concessional 0 2 5 5 3 3 3 5 4 4 Bilateral 1 29 79 54 47 44 55 43 32 32 Concessional 1 10 16 25 26 26 25 28 23 23 Private creditors 7 69 35 18 16 41 74 159 212 198 Bonds 6 2 0 3 3 29 50 142 197 191 Commercial banks 1 55 20 14 12 11 18 14 10 5 Other private 0 13 15 2 1 1 7 3 4 2 Private nonguaranteed 54 7 3 13 12 12 13 10 10 1 Bonds 0 0 0 5 5 5 2 0 0 0 Commercial banks and other 54 7 3 8 8 8 11 10 10 1 Memo: IBRD 1 13 58 34 28 24 22 22 21 20 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -54 140 -200 -364 -29 -334 273 350 -197 -576 Public and publicly guaranteed -1 131 -189 -416 -8 -309 350 369 -178 -566 Official creditors 9 235 -116 -371 -234 -211 -82 -222 -38 -169 Multilateral 5 66 -76 -119 -88 -28 68 -42 61 -118 Concessional 0 31 -4 -20 -7 -11 4 -14 3 14 Bilateral 4 169 -40 -253 -146 -184 -150 -181 -99 -52 Concessional 0 72 67 -113 -78 -106 -76 -86 -73 -27 Private creditors -10 -103 -73 -45 226 -98 432 591 -141 -397 Bonds -7 -10 0 -3 247 -94 490 677 -127 -367 Commercial banks -3 -66 -22 -26 -25 -11 -40 -86 -15 -24 Other private 0 -26 -51 -16 4 7 -18 0 1 -6 Private nonguaranteed -53 8 -11 52 -21 -25 -77 -19 -18 -10 Bonds 0 0 0 -5 -5 -5 -57 0 0 0 Commercial banks and other -53 8 -11 57 -17 -21 -20 -19 -18 -10 Memo: IBRD 5 37 -85 -80 -68 -35 15 18 19 -52 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 234 223 492 555 434 543 631 687 810 792 Public and publicly guaranteed 15 206 481 537 412 518 554 669 791 782 Official creditors 4 82 370 480 363 379 393 395 303 312 Multilateral 2 27 186 206 172 174 187 179 175 186 Concessional 0 2 13 29 13 13 14 20 12 13 Bilateral 2 55 184 274 191 205 206 215 128 125 Concessional 2 12 35 122 91 127 100 109 91 86 Private creditors 11 124 112 57 49 139 161 274 488 471 Bonds 7 10 0 3 3 94 63 142 427 417 Commercial banks 4 70 22 38 39 42 64 117 47 36 Other private 0 44 90 16 7 2 34 15 14 17 Private nonguaranteed 218 17 11 18 21 25 77 19 18 10 Bonds 0 0 0 5 5 5 57 0 0 0 Commercial banks and other 218 17 11 13 17 21 20 19 18 10 Memo: IBRD 2 18 120 106 99 99 83 73 65 66 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 42 335 743 1,003 996 906 704 692 668 582 Official creditors 42 323 730 956 941 850 610 647 643 540 Private creditors 0 11 13 47 55 56 94 45 25 42 Memorandum items Concessional LDOD 19 389 1,425 1,071 1,060 1,048 1,055 935 937 1,028 Variable rate LDOD 822 344 1,042 974 934 909 928 904 1,074 1,073 Public sector LDOD 158 1,383 4,009 2,769 2,969 2,878 3,753 4,302 4,593 4,515 Private sector LDOD 824 122 34 188 179 166 104 96 87 78 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 13.6 14.8 12.0 Deutsche mark 0.0 0.7 2.0 3.0 2.8 2.3 2.2 .. .. .. French franc 0.0 1.1 0.8 1.0 0.9 0.7 0.5 .. .. .. Japanese yen 0.0 0.6 4.8 9.8 9.8 13.0 7.1 5.3 5.1 6.6 Pound sterling 47.6 8.5 5.8 4.0 3.4 2.9 2.0 1.8 1.8 2.3 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 48.1 51.8 50.7 61.6 65.9 66.1 67.3 Multiple currency 18.7 17.1 27.2 26.3 23.6 23.3 15.8 12.1 10.6 10.1 Special drawing rights 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.1 0.1 0.2 All other currencies 6.0 13.2 9.7 7.8 7.6 7.0 10.7 1.3 1.4 1.4 283 JAMAICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 7 4 3 3 1 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 -286 125 27 793 659 116 105 Net flows on debt 13 234 -99 -109 34 -91 441 746 -59 -113 Net change in interest arrears .. .. 0 -25 1 46 24 7 13 26 Interest capitalized .. .. 54 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -24 0 0 -7 -4 -3 -3 -1 Cross-currency valuation .. .. 158 -174 85 -19 -91 -94 190 223 Residual .. .. 30 21 5 99 423 2 -25 -30 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.0 7.2 7.6 6.8 7.8 6.2 9.1 9.9 7.3 6.7 Maturity (years) 16.0 13.8 17.8 19.8 8.5 15.9 11.2 13.5 16.0 9.2 Grace period (years) 3.2 4.6 4.2 4.6 5.4 3.9 4.6 10.2 10.2 2.9 Grant element (%) 21.7 21.6 14.1 19.8 10.3 21.2 6.6 0.3 15.7 13.5 Official creditors Interest (%) 6.0 6.5 7.5 6.8 5.7 5.7 6.1 4.6 3.7 5.6 Maturity (years) 16.0 14.7 19.7 21.0 12.3 19.9 19.8 19.1 18.2 10.4 Grace period (years) 3.2 5.0 4.7 5.1 2.4 4.7 5.4 5.0 5.5 1.5 Grant element (%) 21.7 24.1 15.8 20.6 20.2 25.6 25.1 34.1 39.4 17.3 Private creditors Interest (%) 0.0 13.0 8.7 6.5 8.5 7.0 11.0 11.3 10.1 7.1 Maturity (years) 0.0 5.7 1.9 9.7 7.2 7.9 6.0 11.9 14.3 8.7 Grace period (years) 0.0 1.3 0.4 0.8 6.4 2.1 4.2 11.7 14.0 3.5 Grant element (%) 0.0 0.2 0.6 12.7 6.9 12.3 -4.6 -9.2 -3.1 11.9 Memorandum items Commitments 24 245 360 147 378 137 1,066 1,048 583 124 Official creditors 24 219 320 130 96 92 401 229 257 37 Private creditors 0 26 40 16 282 46 665 820 325 87 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 172 153 103 66 38 22 12 8 5 2 Principal 574 573 304 519 335 268 232 592 170 151 Interest 314 269 246 234 193 175 164 131 101 95 Official creditors Disbursements 150 140 98 64 38 22 12 8 5 2 Principal 247 239 251 243 243 230 206 175 154 144 Interest 105 99 91 82 72 62 52 44 38 32 Bilateral creditors Disbursements 32 14 5 2 1 0 0 0 0 0 Principal 115 114 107 92 87 77 66 60 55 45 Interest 36 32 27 23 19 16 14 11 9 7 Multilateral creditors Disbursements 117 126 93 62 37 21 12 8 5 2 Principal 132 125 144 150 156 154 140 115 99 99 Interest 69 67 64 59 53 46 39 33 29 25 Private creditors Disbursements 22 13 5 2 0 0 0 0 0 0 Principal 327 334 53 276 91 37 27 416 16 7 Interest 209 171 156 153 121 114 111 87 63 63 Commercial banks Disbursements 17 11 4 2 0 0 0 0 0 0 Principal 70 45 16 15 8 5 5 4 4 3 Interest 6 5 3 3 2 2 2 2 1 1 Other private Disbursements 6 2 1 0 0 0 0 0 0 0 Principal 257 290 37 261 83 32 22 412 12 3 Interest 203 166 152 150 119 112 110 85 62 61 284 JORDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 119 1,867 8,333 7,314 7,561 8,083 7,355 7,534 8,108 8,337 Long-term debt (LDOD) 119 1,381 7,202 6,143 6,498 6,714 6,183 6,632 7,072 7,173 Public and publicly guaranteed 119 1,381 7,202 6,143 6,498 6,714 6,183 6,632 7,072 7,173 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 94 427 469 498 462 433 483 421 Short-term debt 0 485 1,037 743 593 871 710 469 554 743 of which interest arrears on LDOD 0 5 107 82 81 92 102 36 36 0 Official creditors 0 5 30 82 81 92 102 36 36 0 Private creditors 0 0 77 1 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 22 529 258 241 268 281 144 139 20 Official creditors 0 22 34 231 234 259 274 142 138 18 Private creditors 0 0 495 27 7 9 7 2 2 2 Memo: export credits 0 0 2,366 2,811 1,074 966 1,069 1,079 1,178 1,306 TOTAL DEBT FLOWS Disbursements 15 369 691 712 482 485 196 653 433 173 Long-term debt 15 369 691 579 450 409 176 614 340 173 IMF purchases 0 0 0 133 32 76 20 39 93 0 Principal repayments 3 103 252 504 422 298 424 401 390 978 Long-term debt 3 103 242 481 413 262 393 349 311 878 IMF repurchases 0 0 10 22 9 36 31 51 79 100 Net flows on debt 12 462 604 353 -89 454 -399 77 128 -580 of which short-term debt 0 196 165 145 -149 267 -171 -175 85 225 Interest payments (INT) 2 106 377 360 450 251 315 262 199 180 Long-term debt 2 79 310 308 395 204 239 218 173 157 IMF charges 0 0 9 17 20 19 24 20 14 9 Short-term debt 0 28 58 35 34 28 52 24 13 14 Net transfers on debt 10 356 227 -7 -539 203 -715 -185 -71 -760 Total debt service paid (TDS) 5 209 628 864 872 549 740 663 589 1,158 Long-term debt 5 182 552 789 808 466 632 567 484 1,035 IMF repurchases and charges 0 0 18 39 30 55 56 72 93 109 Short-term debt (interest only) 0 28 58 35 34 28 52 24 13 14 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 53 1,427 1,159 754 622 563 935 542 393 757 Net flow of long-term debt (ex. IMF) 12 266 449 97 37 147 -217 265 29 -706 Foreign direct investment (net) 0 34 38 361 310 158 783 96 31 376 Portfolio equity flows 0 0 0 0 0 22 -17 -145 -52 -58 Grants (excluding technical coop.) 41 1,127 672 296 275 236 386 326 385 1,144 Memo: technical coop. grants 31 25 68 69 63 158 120 133 156 115 official net resource flows 49 1,400 907 526 435 451 324 660 449 918 private net resource flows 4 28 252 228 187 112 611 -118 -56 -161 NET TRANSFERS 51 1,349 849 446 227 359 696 322 219 598 Interest on long-term debt 2 79 310 308 395 204 239 218 173 157 Profit remittances on FDI 0 0 0 0 0 0 1 2 1 2 Memo: official net transfers 48 1,357 784 290 117 312 166 489 311 791 private net transfers 4 -8 65 156 110 46 530 -167 -92 -194 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 658 4,009 3,805 7,037 7,774 7,980 8,439 8,838 9,304 9,784 Exports of goods, serv. & inc. (XGS) .. 2,498 3,078 5,476 5,477 5,499 5,867 6,236 6,688 7,048 Worker remit. & comp. of employees 0 794 499 1,819 1,624 1,752 1,845 2,011 2,135 2,201 Imports of goods & services (MGS) .. 3,309 3,850 5,643 5,633 5,470 6,331 6,489 6,670 7,211 International reserves (RES) 258 1,745 1,139 2,436 1,988 2,770 3,441 3,174 4,116 5,366 Current account balance .. 374 -227 29 14 405 59 -4 361 963 4. DEBT INDICATORS EDT / XGS (%) .. 74.7 270.8 133.6 138.0 147.0 125.4 120.8 121.2 118.3 EDT / GNI (%) 18.1 46.6 219.0 103.9 97.3 101.3 87.1 85.2 87.1 85.2 TDS / XGS (%) .. 8.4 20.4 15.8 15.9 10.0 12.6 10.6 8.8 16.4 INT / XGS (%) .. 4.3 12.2 6.6 8.2 4.6 5.4 4.2 3.0 2.5 INT / GNI (%) 0.3 2.7 9.9 5.1 5.8 3.1 3.7 3.0 2.1 1.8 RES / EDT (%) 216.2 93.5 13.7 33.3 26.3 34.3 46.8 42.1 50.8 64.4 RES / MGS (months) .. 6.3 3.5 5.2 4.2 6.1 6.5 5.9 7.4 8.9 Short-term / EDT (%) 0.0 26.0 12.4 10.2 7.8 10.8 9.7 6.2 6.8 8.9 Concessional / EDT (%) 91.5 38.3 29.8 42.5 45.9 46.8 47.8 43.2 41.9 46.1 Multilateral / EDT (%) 7.6 8.5 10.6 19.5 21.6 22.2 23.2 24.2 24.8 24.3 285 JORDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 119 1,381 7,202 6,143 6,498 6,714 6,183 6,632 7,072 7,173 Public and publicly guaranteed 119 1,381 7,202 6,143 6,498 6,714 6,183 6,632 7,072 7,173 Official creditors 109 1,106 3,551 4,615 5,143 5,480 5,190 5,778 6,253 6,821 Multilateral 9 159 887 1,427 1,630 1,793 1,706 1,824 2,012 2,027 Concessional 9 113 209 431 500 601 601 600 631 651 Bilateral 100 947 2,664 3,188 3,513 3,687 3,484 3,954 4,241 4,794 Concessional 100 602 2,276 2,677 2,974 3,183 2,915 2,655 2,764 3,196 Private creditors 10 276 3,651 1,529 1,355 1,234 993 855 819 352 Bonds 0 0 263 786 775 765 636 548 536 68 Commercial banks 0 206 1,604 116 58 20 1 1 1 0 Other private 10 70 1,784 627 522 449 356 306 282 283 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 26 516 749 745 835 798 886 1,020 1,017 IDA 9 76 77 65 62 60 57 55 52 50 DISBURSEMENTS 15 369 691 579 450 409 176 614 340 173 Public and publicly guaranteed 15 369 691 579 450 409 176 614 340 173 Official creditors 10 326 376 579 450 409 176 614 340 173 Multilateral 0 54 142 243 272 327 80 280 255 114 Concessional 0 18 10 90 85 127 32 41 54 64 Bilateral 10 272 234 335 178 81 96 334 85 58 Concessional 10 106 223 315 178 69 53 256 57 54 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 94 36 160 38 161 166 35 IDA 0 9 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 3 103 242 481 413 262 393 349 311 878 Public and publicly guaranteed 3 103 242 481 413 262 393 349 311 878 Official creditors 2 53 142 349 290 194 238 280 277 399 Multilateral 0 1 94 116 112 126 124 140 151 173 Concessional 0 1 12 23 22 20 27 38 46 59 Bilateral 2 52 48 233 178 68 114 140 126 226 Concessional 2 23 32 208 140 36 93 116 92 161 Private creditors 0 50 100 133 123 68 155 70 34 479 Bonds 0 0 0 10 10 9 95 45 10 467 Commercial banks 0 46 69 98 58 38 19 0 0 0 Other private 0 4 31 25 55 21 41 24 24 12 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 69 64 65 53 55 56 65 IDA 0 0 1 2 2 3 3 3 3 3 NET FLOWS ON DEBT 12 266 449 97 37 147 -217 265 29 -706 Public and publicly guaranteed 12 266 449 97 37 147 -217 265 29 -706 Official creditors 8 272 234 230 160 215 -62 334 64 -226 Multilateral 0 52 48 128 161 202 -44 141 105 -59 Concessional 0 17 -3 67 63 107 4 3 8 5 Bilateral 7 220 186 102 0 14 -18 194 -41 -167 Concessional 7 84 191 107 38 33 -40 140 -35 -107 Private creditors 4 -6 214 -133 -123 -68 -155 -70 -34 -479 Bonds 0 0 0 -10 -10 -9 -95 -45 -10 -467 Commercial banks 0 -31 4 -98 -58 -38 -19 0 0 0 Other private 4 25 210 -25 -55 -21 -41 -24 -24 -12 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 25 -27 95 -15 106 111 -30 IDA 0 9 -1 -2 -2 -3 -3 -3 -3 -3 286 JORDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 2 79 310 308 395 204 239 218 173 157 Public and publicly guaranteed 2 79 310 308 395 204 239 218 173 157 Official creditors 1 43 123 235 318 139 158 171 138 127 Multilateral 0 5 54 70 76 84 91 92 80 73 Concessional 0 3 6 14 18 21 23 24 25 25 Bilateral 1 38 69 166 242 55 67 79 58 53 Concessional 1 13 57 146 226 43 47 43 38 47 Private creditors 0 36 187 73 77 65 80 47 35 31 Bonds 0 0 14 39 43 45 46 34 28 26 Commercial banks 0 32 67 15 8 4 1 0 0 0 Other private 0 4 106 18 26 16 33 13 7 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 1 37 47 46 48 53 50 39 32 IDA 0 0 1 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 10 188 139 -211 -358 -57 -456 47 -143 -863 Public and publicly guaranteed 10 188 139 -211 -358 -57 -456 47 -143 -863 Official creditors 6 230 112 -5 -158 77 -220 164 -74 -353 Multilateral 0 47 -6 58 84 118 -135 49 25 -132 Concessional 0 14 -9 53 45 86 -19 -21 -17 -21 Bilateral 6 183 118 -63 -243 -41 -85 115 -98 -220 Concessional 6 71 134 -38 -188 -10 -87 97 -73 -153 Private creditors 4 -42 27 -205 -200 -133 -236 -117 -69 -510 Bonds 0 0 -14 -49 -54 -54 -141 -80 -38 -493 Commercial banks 0 -63 -63 -113 -65 -42 -20 0 0 0 Other private 4 20 104 -43 -81 -37 -75 -37 -31 -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 0 21 33 -22 -74 47 -68 56 72 -62 IDA 0 8 -2 -3 -3 -3 -3 -3 -3 -3 DEBT SERVICE (LTDS) 5 182 552 789 808 466 632 567 484 1,035 Public and publicly guaranteed 5 182 552 789 808 466 632 567 484 1,035 Official creditors 4 96 264 584 608 332 396 450 414 525 Multilateral 0 6 148 185 188 210 215 231 231 247 Concessional 0 4 18 37 40 41 51 62 71 85 Bilateral 4 90 116 399 420 123 181 219 184 279 Concessional 4 35 89 354 366 79 140 159 130 208 Private creditors 1 86 288 205 200 133 236 117 69 510 Bonds 0 0 14 49 54 54 141 80 38 493 Commercial banks 0 78 136 113 65 42 20 0 0 0 Other private 1 8 137 43 81 37 75 37 31 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 0 1 89 116 110 114 106 105 94 96 IDA 0 1 2 3 3 3 3 3 3 3 UNDISBURSED DEBT 73 1,352 1,474 1,202 1,329 1,307 1,458 1,209 1,022 1,017 Official creditors 61 1,135 1,124 1,202 1,329 1,307 1,458 1,209 1,022 997 Private creditors 12 217 351 0 0 0 0 0 0 20 Memorandum items Concessional LDOD 109 715 2,485 3,108 3,474 3,784 3,516 3,255 3,395 3,846 Variable rate LDOD 0 199 2,501 1,671 1,645 1,777 1,795 2,476 2,785 2,837 Public sector LDOD 118 1,381 7,202 6,122 6,464 6,673 6,148 6,600 7,043 7,149 Private sector LDOD 1 1 0 22 34 41 35 32 28 24 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 16.8 19.1 22.0 Deutsche mark 8.7 11.4 7.7 6.6 7.0 6.0 5.7 .. .. .. French franc 2.6 2.2 3.4 7.0 7.4 6.5 6.8 .. .. .. Japanese yen 0.0 1.2 5.8 24.5 26.2 28.8 27.5 21.7 21.4 23.1 Pound sterling 32.6 6.9 7.9 4.6 3.9 3.4 3.4 8.0 8.1 8.4 Swiss franc 0.0 0.0 0.8 0.4 0.4 0.4 0.4 0.5 0.5 1.2 U.S.dollars 30.8 56.9 45.7 28.3 28.3 28.8 29.3 30.9 29.9 24.0 Multiple currency 0.0 4.7 8.2 13.7 10.1 9.0 8.9 7.5 6.9 6.4 Special drawing rights 0.0 0.0 2.8 1.1 1.3 1.1 0.9 0.8 0.6 0.5 All other currencies 25.3 16.8 17.8 13.8 15.4 16.1 17.1 13.8 13.4 14.2 287 JORDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 350 223 211 232 194 567 213 563 Debt stock rescheduled .. .. 0 0 0 0 0 142 0 0 Principal rescheduled .. .. 350 175 147 139 90 252 113 254 Official .. .. 193 88 87 93 60 231 94 234 Private .. .. 157 87 60 46 29 21 19 20 Interest rescheduled .. .. 0 48 63 76 62 172 100 176 Official .. .. 0 23 47 55 45 138 69 126 Private .. .. 0 25 17 22 17 34 30 51 Debt forgiven .. .. 0 34 0 2 28 92 0 53 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 4 Debt stock reduction .. .. 0 0 0 0 120 44 66 8 of which debt buyback .. .. 0 0 0 0 85 35 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 1,017 -72 247 522 -728 179 574 229 Net flows on debt 12 462 604 353 -89 454 -399 77 128 -580 Net change in interest arrears .. .. 69 0 -1 11 11 -66 0 -35 Interest capitalized .. .. 0 48 63 76 62 172 100 176 Debt forgiveness or reduction .. .. 0 -34 0 -2 -63 -101 -66 -61 Cross-currency valuation .. .. 309 -432 302 17 -366 -314 508 619 Residual .. .. 35 -7 -27 -34 27 411 -95 111 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.7 7.3 4.5 4.5 3.9 5.0 4.8 2.2 2.1 2.2 Maturity (years) 23.4 15.4 19.9 18.9 19.4 18.3 19.5 21.3 16.0 21.6 Grace period (years) 5.0 4.0 6.5 5.8 5.5 5.0 6.4 3.4 4.9 6.2 Grant element (%) 42.6 16.5 39.0 35.0 39.5 31.6 35.1 47.7 46.7 53.9 Official creditors Interest (%) 2.6 7.3 3.9 4.5 3.9 5.0 4.8 2.2 2.1 2.2 Maturity (years) 31.4 16.0 21.8 18.9 19.4 18.3 19.5 21.3 16.0 21.2 Grace period (years) 6.4 4.3 7.4 5.8 5.5 5.0 6.4 3.4 4.9 6.3 Grant element (%) 56.7 17.2 44.4 35.0 39.5 31.6 35.1 47.7 46.7 53.1 Private creditors Interest (%) 6.2 7.2 8.9 0.0 0.0 0.0 0.0 0.0 0.0 1.0 Maturity (years) 5.5 11.5 7.0 0.0 0.0 0.0 0.0 0.0 0.0 30.0 Grace period (years) 1.9 2.4 1.0 0.0 0.0 0.0 0.0 0.0 0.0 5.0 Grant element (%) 10.4 12.0 2.8 0.0 0.0 0.0 0.0 0.0 0.0 68.3 Memorandum items Commitments 36 759 749 293 543 440 384 530 142 375 Official creditors 25 653 652 293 543 440 384 530 142 355 Private creditors 11 106 97 0 0 0 0 0 0 20 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 289 268 175 118 72 44 26 15 6 4 Principal 647 578 543 544 491 509 515 530 537 526 Interest 253 255 253 239 221 204 186 168 149 130 Official creditors Disbursements 282 260 171 116 72 44 26 15 6 4 Principal 552 535 504 508 472 490 496 512 518 508 Interest 234 242 241 229 213 197 180 162 144 126 Bilateral creditors Disbursements 113 98 61 37 19 10 5 2 1 0 Principal 336 329 309 313 272 284 295 315 328 331 Interest 155 166 171 164 153 144 134 123 112 100 Multilateral creditors Disbursements 169 162 110 80 53 34 21 13 6 4 Principal 215 206 195 194 200 206 201 197 190 177 Interest 79 75 70 65 59 53 46 39 33 26 Private creditors Disbursements 7 8 4 1 1 0 0 0 0 0 Principal 96 43 39 36 19 19 19 18 18 19 Interest 19 14 12 10 8 7 6 5 5 4 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 7 8 4 1 1 0 0 0 0 0 Principal 96 43 39 36 19 19 19 18 18 19 Interest 19 14 12 10 8 7 6 5 5 4 288 KAZAKHSTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 4,078 6,084 6,122 12,427 14,883 17,288 22,835 Long-term debt (LDOD) .. .. .. 3,218 5,008 5,188 11,466 13,541 15,446 20,002 Public and publicly guaranteed .. .. .. 2,622 3,038 3,353 3,617 3,446 3,209 3,546 Private nonguaranteed .. .. .. 596 1,970 1,835 7,849 10,095 12,237 16,457 Use of IMF credit .. .. .. 511 653 460 0 0 0 0 Short-term debt .. .. .. 349 424 474 961 1,342 1,842 2,833 of which interest arrears on LDOD .. .. .. 0 49 108 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 49 108 0 0 0 0 Memo: principal arrears on LDOD .. .. .. 0 55 95 0 0 0 0 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 55 95 0 0 0 0 Memo: export credits .. .. .. 1,173 581 440 350 331 331 348 TOTAL DEBT FLOWS Disbursements .. .. .. 1,487 2,030 1,364 3,057 4,785 4,919 8,240 Long-term debt .. .. .. 1,487 1,820 1,364 3,057 4,785 4,919 8,240 IMF purchases .. .. .. 0 210 0 0 0 0 0 Principal repayments .. .. .. 273 718 1,078 2,594 2,622 3,390 4,501 Long-term debt .. .. .. 267 623 902 2,152 2,622 3,390 4,501 IMF repurchases .. .. .. 6 95 176 442 0 0 0 Net flows on debt .. .. .. 1,342 1,337 277 1,058 2,543 2,029 4,730 of which short-term debt .. .. .. 128 26 -9 595 381 500 991 Interest payments (INT) .. .. .. 210 273 284 775 731 719 792 Long-term debt .. .. .. 170 231 243 713 685 666 722 IMF charges .. .. .. 24 23 22 11 0 0 0 Short-term debt .. .. .. 16 20 19 51 46 53 70 Net transfers on debt .. .. .. 1,132 1,064 -7 283 1,812 1,310 3,937 Total debt service paid (TDS) .. .. .. 483 992 1,362 3,370 3,353 4,109 5,293 Long-term debt .. .. .. 437 854 1,145 2,865 3,307 4,056 5,223 IMF repurchases and charges .. .. .. 31 118 198 453 0 0 0 Short-term debt (interest only) .. .. .. 16 20 19 51 46 53 70 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 2,596 2,374 2,078 2,250 5,081 4,173 5,916 Net flow of long-term debt (ex. IMF) .. .. .. 1,220 1,196 462 905 2,162 1,529 3,739 Foreign direct investment (net) .. .. .. 1,321 1,151 1,587 1,283 2,835 2,583 2,088 Portfolio equity flows .. .. .. 0 0 0 19 55 39 64 Grants (excluding technical coop.) .. .. .. 54 26 28 44 28 21 25 Memo: technical coop. grants .. .. .. 41 97 86 74 81 102 82 official net resource flows .. .. .. 488 366 263 80 63 41 242 private net resource flows .. .. .. 2,108 2,008 1,815 2,170 5,019 4,131 5,674 NET TRANSFERS .. .. .. 2,271 2,046 1,561 603 3,345 2,587 3,763 Interest on long-term debt .. .. .. 170 231 243 713 685 666 722 Profit remittances on FDI .. .. .. 155 97 274 934 1,051 919 1,431 Memo: official net transfers .. .. .. 400 265 157 -43 -48 -62 138 private net transfers .. .. .. 1,870 1,781 1,404 647 3,393 2,650 3,625 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 21,856 21,837 16,346 17,150 21,013 23,604 28,009 Exports of goods, serv. & inc. (XGS) .. .. .. 7,815 6,870 7,030 10,624 10,541 11,956 15,334 Worker remit. & comp. of employees .. .. .. 60 72 64 122 165 205 147 Imports of goods & services (MGS) .. .. .. 8,689 8,218 7,358 10,134 11,800 12,658 15,170 International reserves (RES) .. .. .. 2,223 1,965 2,001 2,099 2,506 3,141 4,962 Current account balance .. .. .. -799 -1,225 -171 676 -1,109 -696 -39 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 52.2 88.6 87.1 117.0 141.2 144.6 148.9 EDT / GNI (%) .. .. .. 18.7 27.9 37.5 72.5 70.8 73.2 81.5 TDS / XGS (%) .. .. .. 6.2 14.4 19.4 31.7 31.8 34.4 34.5 INT / XGS (%) .. .. .. 2.7 4.0 4.0 7.3 6.9 6.0 5.2 INT / GNI (%) .. .. .. 1.0 1.3 1.7 4.5 3.5 3.0 2.8 RES / EDT (%) .. .. .. 54.5 32.3 32.7 16.9 16.8 18.2 21.7 RES / MGS (months) .. .. .. 3.1 2.9 3.3 2.5 2.5 3.0 3.9 Short-term / EDT (%) .. .. .. 8.6 7.0 7.7 7.7 9.0 10.7 12.4 Concessional / EDT (%) .. .. .. 3.9 4.2 6.3 3.3 2.6 2.9 3.6 Multilateral / EDT (%) .. .. .. 20.2 20.3 24.1 11.9 10.1 9.5 7.8 289 KAZAKHSTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 3,218 5,008 5,188 11,466 13,541 15,446 20,002 Public and publicly guaranteed .. .. .. 2,622 3,038 3,353 3,617 3,446 3,209 3,546 Official creditors .. .. .. 1,612 2,050 2,317 2,228 2,148 2,297 2,691 Multilateral .. .. .. 824 1,233 1,473 1,477 1,507 1,648 1,771 Concessional .. .. .. 22 37 60 60 58 85 92 Bilateral .. .. .. 788 817 843 751 640 649 920 Concessional .. .. .. 135 218 328 351 332 408 723 Private creditors .. .. .. 1,009 988 1,037 1,389 1,298 912 854 Bonds .. .. .. 550 550 650 1,000 1,000 650 650 Commercial banks .. .. .. 112 146 193 252 218 205 163 Other private .. .. .. 347 291 193 137 80 56 41 Private nonguaranteed .. .. .. 596 1,970 1,835 7,849 10,095 12,237 16,457 Bonds .. .. .. 0 100 100 100 100 400 1,125 Commercial banks and other .. .. .. 596 1,870 1,735 7,749 9,995 11,837 15,332 Memo: IBRD .. .. .. 648 899 1,082 1,057 1,070 1,178 1,265 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 1,487 1,820 1,364 3,057 4,785 4,919 8,240 Public and publicly guaranteed .. .. .. 991 485 747 623 228 266 411 Official creditors .. .. .. 491 442 350 168 193 194 396 Multilateral .. .. .. 284 365 263 95 159 142 143 Concessional .. .. .. 17 12 16 5 3 19 6 Bilateral .. .. .. 208 77 87 73 34 52 254 Concessional .. .. .. 29 60 83 69 34 52 254 Private creditors .. .. .. 500 43 397 455 35 72 15 Bonds .. .. .. 350 0 300 350 0 0 0 Commercial banks .. .. .. 103 42 40 98 9 72 15 Other private .. .. .. 47 1 56 7 26 0 0 Private nonguaranteed .. .. .. 496 1,334 618 2,434 4,557 4,653 7,828 Bonds .. .. .. 0 100 0 0 100 300 725 Commercial banks and other .. .. .. 496 1,234 618 2,434 4,457 4,353 7,103 Memo: IBRD .. .. .. 202 211 209 50 114 92 71 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 267 623 902 2,152 2,622 3,390 4,501 Public and publicly guaranteed .. .. .. 151 192 449 215 254 646 264 Official creditors .. .. .. 57 103 115 131 159 174 179 Multilateral .. .. .. 0 0 24 31 70 83 114 Concessional .. .. .. 0 0 0 0 0 1 1 Bilateral .. .. .. 57 103 92 101 89 92 66 Concessional .. .. .. 1 1 5 8 9 10 13 Private creditors .. .. .. 94 89 333 84 94 472 85 Bonds .. .. .. 0 0 200 0 0 350 0 Commercial banks .. .. .. 8 13 53 31 36 91 64 Other private .. .. .. 87 77 80 53 59 31 20 Private nonguaranteed .. .. .. 115 432 453 1,937 2,369 2,744 4,237 Bonds .. .. .. 0 0 0 0 100 0 0 Commercial banks and other .. .. .. 115 432 453 1,937 2,269 2,744 4,237 Memo: IBRD .. .. .. 0 0 19 20 47 56 75 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 1,220 1,196 462 905 2,162 1,529 3,739 Public and publicly guaranteed .. .. .. 840 294 298 408 -26 -380 147 Official creditors .. .. .. 434 340 235 36 34 20 217 Multilateral .. .. .. 284 365 239 64 89 60 29 Concessional .. .. .. 17 12 16 5 3 18 5 Bilateral .. .. .. 151 -25 -5 -28 -55 -40 188 Concessional .. .. .. 29 60 78 62 25 42 241 Private creditors .. .. .. 406 -46 63 372 -60 -400 -70 Bonds .. .. .. 350 0 100 350 0 -350 0 Commercial banks .. .. .. 96 30 -13 68 -27 -19 -49 Other private .. .. .. -40 -76 -24 -46 -33 -31 -20 Private nonguaranteed .. .. .. 380 903 164 497 2,188 1,909 3,591 Bonds .. .. .. 0 100 0 0 0 300 725 Commercial banks and other .. .. .. 380 803 164 497 2,188 1,609 2,866 Memo: IBRD .. .. .. 202 211 190 30 67 36 -4 IDA .. .. .. 0 0 0 0 0 0 0 290 KAZAKHSTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 170 231 243 713 685 666 722 Public and publicly guaranteed .. .. .. 164 205 178 235 245 229 194 Official creditors .. .. .. 88 101 106 123 111 103 104 Multilateral .. .. .. 42 58 72 82 78 77 73 Concessional .. .. .. 0 0 0 1 1 1 2 Bilateral .. .. .. 46 43 33 41 32 27 31 Concessional .. .. .. 5 6 8 9 11 10 18 Private creditors .. .. .. 76 104 72 112 134 126 90 Bonds .. .. .. 22 48 47 90 109 109 80 Commercial banks .. .. .. 14 8 8 14 17 14 9 Other private .. .. .. 40 49 17 8 8 3 1 Private nonguaranteed .. .. .. 6 25 65 477 440 437 528 Bonds .. .. .. 0 0 11 11 11 27 99 Commercial banks and other .. .. .. 6 25 53 466 429 411 429 Memo: IBRD .. .. .. 34 44 52 62 53 51 48 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 1,050 966 219 192 1,477 863 3,017 Public and publicly guaranteed .. .. .. 676 88 120 173 -270 -609 -46 Official creditors .. .. .. 346 239 129 -87 -77 -83 113 Multilateral .. .. .. 241 307 167 -18 11 -17 -44 Concessional .. .. .. 17 12 15 5 2 17 3 Bilateral .. .. .. 105 -69 -38 -69 -87 -66 157 Concessional .. .. .. 24 54 70 52 15 31 223 Private creditors .. .. .. 330 -151 -9 260 -194 -526 -160 Bonds .. .. .. 328 -48 53 260 -109 -459 -80 Commercial banks .. .. .. 81 22 -21 53 -44 -32 -58 Other private .. .. .. -80 -125 -41 -54 -40 -34 -22 Private nonguaranteed .. .. .. 374 878 100 20 1,748 1,472 3,063 Bonds .. .. .. 0 100 -11 -11 -11 273 626 Commercial banks and other .. .. .. 374 778 111 31 1,759 1,198 2,438 Memo: IBRD .. .. .. 167 167 137 -33 13 -15 -52 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 437 854 1,145 2,865 3,307 4,056 5,223 Public and publicly guaranteed .. .. .. 315 397 627 450 498 875 458 Official creditors .. .. .. 145 204 221 255 270 277 283 Multilateral .. .. .. 42 58 96 113 148 159 186 Concessional .. .. .. 0 0 0 1 1 1 3 Bilateral .. .. .. 103 146 125 142 122 118 97 Concessional .. .. .. 5 6 13 17 20 21 31 Private creditors .. .. .. 170 194 406 196 228 597 174 Bonds .. .. .. 22 48 247 90 109 459 80 Commercial banks .. .. .. 22 20 61 45 53 104 73 Other private .. .. .. 126 126 97 61 66 34 22 Private nonguaranteed .. .. .. 121 457 518 2,415 2,809 3,182 4,765 Bonds .. .. .. 0 0 11 11 111 27 99 Commercial banks and other .. .. .. 121 457 507 2,403 2,698 3,155 4,666 Memo: IBRD .. .. .. 34 44 71 83 100 107 122 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 1,184 1,479 1,608 1,466 1,458 1,093 749 Official creditors .. .. .. 1,005 1,307 1,457 1,413 1,415 1,065 731 Private creditors .. .. .. 179 172 151 53 43 29 18 Memorandum items Concessional LDOD .. .. .. 157 255 389 411 389 493 816 Variable rate LDOD .. .. .. 2,196 3,852 3,827 9,706 11,675 13,925 18,185 Public sector LDOD .. .. .. 2,622 3,033 3,349 3,614 3,444 3,140 3,504 Private sector LDOD .. .. .. 596 1,975 1,839 7,852 10,097 12,306 16,498 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 3.5 2.8 2.3 Deutsche mark .. .. .. 17.3 13.3 7.8 4.7 .. .. .. French franc .. .. .. 0.6 0.5 0.3 0.2 .. .. .. Japanese yen .. .. .. 11.1 13.2 15.7 13.7 12.7 13.5 14.7 Pound sterling .. .. .. 0.0 0.2 0.7 0.6 0.6 0.6 0.5 Swiss franc .. .. .. 0.0 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 44.2 47.1 53.6 61.4 63.9 60.2 60.7 Multiple currency .. .. .. 24.0 23.4 21.4 18.9 19.1 21.8 20.2 Special drawing rights .. .. .. 0.0 0.0 0.2 0.2 0.2 0.9 1.1 All other currencies .. .. .. 2.8 2.2 0.2 0.1 0.0 0.2 0.6 291 KAZAKHSTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 202 0 152 0 0 Debt stock rescheduled .. .. .. 0 0 185 0 147 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 5 0 0 Official .. .. .. 0 0 0 0 5 0 0 Private .. .. .. 0 0 0 0 0 0 0 Debt forgiven .. .. .. 0 0 0 0 18 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 .. .. .. 1,156 2,007 38 6,305 2,456 2,405 5,547 Net flows on debt .. .. .. 1,342 1,337 277 1,058 2,543 2,029 4,730 Net change in interest arrears .. .. .. 0 49 60 -108 0 0 0 Interest capitalized .. .. .. 0 0 0 0 5 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 -18 0 0 Cross-currency valuation .. .. .. -198 141 -38 -161 -124 153 174 Residual .. .. .. 12 480 -261 5,516 50 223 643 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.5 5.3 9.1 8.4 3.8 5.2 3.0 Maturity (years) .. .. .. 13.6 24.2 12.4 13.1 16.4 7.0 14.3 Grace period (years) .. .. .. 5.6 6.2 4.7 6.6 4.3 2.9 4.8 Grant element (%) .. .. .. 21.2 34.3 7.8 14.4 35.8 19.2 40.2 Official creditors Interest (%) .. .. .. 5.5 5.1 6.2 2.6 3.8 0.0 3.0 Maturity (years) .. .. .. 20.5 25.0 18.3 28.9 16.9 0.0 14.3 Grace period (years) .. .. .. 6.5 6.4 5.1 9.0 4.4 0.0 4.8 Grant element (%) .. .. .. 31.1 35.8 23.7 59.0 36.5 0.0 40.2 Private creditors Interest (%) .. .. .. 7.6 7.8 12.5 11.0 3.0 5.2 0.0 Maturity (years) .. .. .. 5.9 9.2 5.4 6.0 8.2 7.0 0.0 Grace period (years) .. .. .. 4.6 2.1 4.3 5.6 1.2 2.9 0.0 Grant element (%) .. .. .. 10.1 7.1 -10.9 -5.5 23.9 19.2 0.0 Memorandum items Commitments .. .. .. 1,058 729 810 666 453 95 40 Official creditors .. .. .. 559 691 438 206 428 0 40 Private creditors .. .. .. 499 38 371 460 25 95 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 262 193 127 79 44 19 11 6 4 2 Principal 4,563 3,581 3,336 3,609 2,486 449 505 227 214 664 Interest 948 761 627 435 272 157 118 98 89 60 Official creditors Disbursements 249 187 127 79 44 19 11 6 4 2 Principal 225 250 238 254 249 254 259 224 210 161 Interest 115 111 105 96 86 76 65 55 46 38 Bilateral creditors Disbursements 135 91 60 34 18 5 4 0 0 0 Principal 69 73 58 66 73 75 81 79 76 59 Interest 34 33 32 30 28 25 22 19 17 14 Multilateral creditors Disbursements 115 96 68 45 27 14 7 6 4 2 Principal 156 178 180 188 176 178 178 145 134 101 Interest 81 77 72 66 58 51 43 36 30 24 Private creditors Disbursements 13 5 0 0 0 0 0 0 0 0 Principal 4,338 3,331 3,098 3,355 2,237 195 245 3 3 503 Interest 833 650 522 339 185 81 52 43 43 22 Commercial banks Disbursements 13 5 0 0 0 0 0 0 0 0 Principal 53 35 20 18 15 7 3 3 3 3 Interest 6 4 3 2 1 1 1 1 1 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4,284 3,296 3,078 3,336 2,222 188 242 0 0 500 Interest 827 646 519 337 184 80 52 43 43 21 292 KENYA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 478 3,387 7,055 6,465 6,824 6,473 6,181 5,573 6,112 6,766 Long-term debt (LDOD) 408 2,493 5,639 5,418 5,793 5,563 5,257 4,868 5,271 5,728 Public and publicly guaranteed 321 2,056 4,759 5,093 5,513 5,343 5,082 4,759 5,222 5,704 Private nonguaranteed 88 437 880 325 280 220 175 109 49 24 Use of IMF credit 0 254 482 250 196 131 127 99 88 112 Short-term debt 69 640 934 797 834 779 798 606 753 926 of which interest arrears on LDOD 0 2 95 28 58 69 47 38 54 37 Official creditors 0 2 49 18 25 41 18 24 46 31 Private creditors 0 0 46 10 33 28 29 14 8 6 Memo: principal arrears on LDOD 0 3 72 57 106 178 142 147 182 83 Official creditors 0 0 22 39 66 114 41 68 125 53 Private creditors 0 3 50 18 40 64 101 79 58 30 Memo: export credits 0 0 1,540 1,093 516 384 392 369 415 448 TOTAL DEBT FLOWS Disbursements 78 714 777 185 318 265 437 176 366 471 Long-term debt 78 620 640 185 318 265 392 176 366 436 IMF purchases 0 94 136 0 0 0 44 0 0 35 Principal repayments 33 204 457 442 466 521 393 375 419 448 Long-term debt 29 195 352 375 404 461 351 351 401 429 IMF repurchases 4 9 105 67 63 60 42 24 18 20 Net flows on debt 45 718 613 -6 -141 -321 84 -381 77 213 of which short-term debt 0 209 294 251 7 -66 41 -182 130 190 Interest payments (INT) 17 229 333 214 197 174 142 111 116 126 Long-term debt 17 163 230 183 157 133 100 84 96 101 IMF charges 0 8 26 1 1 1 1 1 0 0 Short-term debt 0 58 78 29 39 40 41 26 19 24 Net transfers on debt 28 489 280 -221 -338 -494 -58 -492 -39 87 Total debt service paid (TDS) 50 433 791 657 663 694 535 486 535 574 Long-term debt 46 359 582 558 560 593 451 435 497 530 IMF repurchases and charges 4 17 131 69 64 61 43 24 19 20 Short-term debt (interest only) 0 58 78 29 39 40 41 26 19 24 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 67 624 1,322 79 157 35 365 102 229 381 Net flow of long-term debt (ex. IMF) 49 424 288 -190 -86 -195 41 -175 -35 8 Foreign direct investment (net) 14 79 57 40 42 42 127 5 28 82 Portfolio equity flows 0 0 0 27 1 -8 -6 2 3 1 Grants (excluding technical coop.) 3 121 977 202 199 196 202 269 234 291 Memo: technical coop. grants 27 128 207 180 151 140 138 137 168 175 official net resource flows 33 323 1,201 133 115 68 324 238 265 186 private net resource flows 33 301 122 -55 42 -34 41 -136 -36 195 NET TRANSFERS 49 311 960 -142 -8 -113 237 -30 58 247 Interest on long-term debt 17 163 230 183 157 133 100 84 96 101 Profit remittances on FDI 0 150 132 38 8 16 29 48 76 33 Memo: official net transfers 25 269 1,067 17 6 -19 270 185 200 105 private net transfers 24 41 -107 -159 -14 -94 -33 -216 -142 142 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,545 7,039 8,106 10,380 11,366 10,399 10,324 11,038 12,091 14,241 Exports of goods, serv. & inc. (XGS) .. 2,061 2,233 3,000 2,889 2,723 2,821 3,027 3,216 3,625 Worker remit. & comp. of employees 7 28 139 352 348 432 538 517 395 494 Imports of goods & services (MGS) .. 3,095 3,128 4,029 3,938 3,493 3,941 4,171 3,983 4,374 International reserves (RES) 220 539 236 811 783 792 898 1,065 1,068 1,482 Current account balance .. -876 -527 -457 -475 -90 -199 -341 -137 68 4. DEBT INDICATORS EDT / XGS (%) .. 164.3 315.9 215.5 236.2 237.7 219.1 184.1 190.0 186.7 EDT / GNI (%) 30.9 48.1 87.0 62.3 60.0 62.2 59.9 50.5 50.5 47.5 TDS / XGS (%) .. 21.0 35.4 21.9 22.9 25.5 19.0 16.0 16.6 15.8 INT / XGS (%) .. 11.1 14.9 7.1 6.8 6.4 5.0 3.7 3.6 3.5 INT / GNI (%) 1.1 3.3 4.1 2.1 1.7 1.7 1.4 1.0 1.0 0.9 RES / EDT (%) 46.0 15.9 3.3 12.5 11.5 12.2 14.5 19.1 17.5 21.9 RES / MGS (months) .. 2.1 0.9 2.4 2.4 2.7 2.7 3.1 3.2 4.1 Short-term / EDT (%) 14.5 18.9 13.2 12.3 12.2 12.0 12.9 10.9 12.3 13.7 Concessional / EDT (%) 35.6 20.2 33.7 58.0 60.1 63.9 66.7 74.3 75.6 74.3 Multilateral / EDT (%) 8.0 18.7 35.3 43.9 43.7 44.9 45.9 49.6 48.4 48.0 293 KENYA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 408 2,493 5,639 5,418 5,793 5,563 5,257 4,868 5,271 5,728 Public and publicly guaranteed 321 2,056 4,759 5,093 5,513 5,343 5,082 4,759 5,222 5,704 Official creditors 237 1,206 3,712 4,717 4,947 4,806 4,600 4,450 4,906 5,279 Multilateral 38 634 2,492 2,840 2,985 2,906 2,836 2,763 2,961 3,250 Concessional 32 270 1,395 2,390 2,584 2,576 2,596 2,591 2,802 3,120 Bilateral 199 572 1,220 1,877 1,962 1,899 1,764 1,688 1,946 2,029 Concessional 138 414 983 1,362 1,514 1,562 1,526 1,551 1,816 1,907 Private creditors 84 849 1,047 376 566 537 482 309 315 425 Bonds 71 10 0 0 0 0 0 0 0 0 Commercial banks 1 394 895 326 503 493 449 288 294 346 Other private 12 445 152 50 63 44 33 21 22 79 Private nonguaranteed 88 437 880 325 280 220 175 109 49 24 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 88 437 880 325 280 220 175 109 49 24 Memo: IBRD 5 308 871 213 154 91 47 23 13 6 IDA 32 220 1,185 2,032 2,210 2,220 2,262 2,263 2,447 2,736 DISBURSEMENTS 78 620 640 185 318 265 392 176 366 436 Public and publicly guaranteed 37 533 585 185 318 265 392 176 366 436 Official creditors 36 233 404 160 166 138 307 171 231 163 Multilateral 10 154 297 142 144 95 196 127 72 123 Concessional 7 94 264 128 132 86 184 125 70 123 Bilateral 26 79 106 18 23 43 112 44 159 40 Concessional 20 66 105 18 20 43 112 17 159 40 Private creditors 1 300 182 25 151 127 85 5 135 273 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 215 119 25 129 104 77 0 131 169 Other private 1 85 63 0 22 23 8 5 4 104 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 84 123 78 170 116 66 122 PRINCIPAL REPAYMENTS 29 195 352 375 404 461 351 351 401 429 Public and publicly guaranteed 17 108 315 325 359 400 306 285 341 404 Official creditors 6 31 180 229 250 266 185 202 199 269 Multilateral 1 13 127 128 124 132 112 94 82 109 Concessional 0 1 9 19 23 31 36 41 49 59 Bilateral 5 17 53 101 126 134 73 108 118 159 Concessional 3 5 25 40 38 50 32 38 92 138 Private creditors 12 77 135 96 108 134 121 83 141 135 Bonds 10 0 0 0 0 0 0 0 0 0 Commercial banks 0 25 114 80 91 87 109 75 139 128 Other private 1 52 21 17 17 47 12 8 3 7 Private nonguaranteed 12 88 37 50 45 61 45 66 60 25 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 12 88 37 50 45 61 45 66 60 25 Memo: IBRD 1 11 95 74 66 58 40 22 12 8 IDA 0 1 4 11 15 23 29 35 42 48 NET FLOWS ON DEBT 49 424 288 -190 -86 -195 41 -175 -35 8 Public and publicly guaranteed 20 425 271 -140 -41 -134 86 -109 25 33 Official creditors 30 202 224 -69 -84 -128 122 -31 31 -105 Multilateral 9 141 171 14 19 -36 84 33 -10 14 Concessional 7 94 255 108 109 55 147 84 21 64 Bilateral 21 62 53 -83 -104 -91 38 -64 41 -119 Concessional 17 61 79 -22 -17 -7 79 -21 67 -98 Private creditors -10 222 47 -71 43 -7 -36 -78 -6 138 Bonds -10 0 0 0 0 0 0 0 0 0 Commercial banks 0 189 5 -55 38 17 -32 -75 -8 41 Other private 0 33 42 -17 5 -24 -4 -3 2 97 Private nonguaranteed 30 -1 18 -50 -45 -61 -45 -66 -60 -25 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 30 -1 18 -50 -45 -61 -45 -66 -60 -25 Memo: IBRD 2 35 -92 -74 -66 -58 -40 -22 -12 -8 IDA 7 71 230 72 108 55 142 81 24 74 294 KENYA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 17 163 230 183 157 133 100 84 96 101 Public and publicly guaranteed 13 124 193 152 131 112 81 71 88 100 Official creditors 8 54 134 117 109 88 55 53 65 81 Multilateral 1 36 100 58 50 46 38 30 29 35 Concessional 0 1 9 18 18 19 20 18 21 23 Bilateral 8 18 34 59 59 42 17 23 36 46 Concessional 4 7 14 28 31 28 10 17 29 43 Private creditors 4 70 59 35 22 24 27 18 23 19 Bonds 3 1 0 0 0 0 0 0 0 0 Commercial banks 0 30 52 33 19 22 24 16 22 18 Other private 1 39 7 3 3 1 3 2 1 1 Private nonguaranteed 4 39 38 31 26 21 19 13 8 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 39 38 31 26 21 19 13 8 1 Memo: IBRD 0 31 78 23 17 12 7 3 1 1 IDA 0 1 7 15 15 16 16 16 17 19 NET TRANSFERS ON DEBT 32 261 58 -374 -243 -328 -58 -259 -131 -94 Public and publicly guaranteed 7 301 78 -292 -172 -246 5 -180 -63 -68 Official creditors 21 149 90 -186 -193 -216 67 -84 -34 -186 Multilateral 8 105 70 -44 -31 -82 46 3 -39 -21 Concessional 6 92 247 90 92 36 128 66 -1 41 Bilateral 13 44 19 -142 -162 -133 21 -87 6 -165 Concessional 13 53 65 -50 -48 -35 69 -38 37 -141 Private creditors -15 152 -12 -107 22 -30 -62 -96 -30 118 Bonds -13 -1 0 0 0 0 0 0 0 0 Commercial banks 0 159 -47 -87 20 -5 -56 -91 -30 23 Other private -1 -6 35 -20 2 -25 -6 -4 1 96 Private nonguaranteed 25 -40 -20 -81 -71 -82 -64 -79 -68 -26 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 25 -40 -20 -81 -71 -82 -64 -79 -68 -26 Memo: IBRD 2 3 -169 -97 -83 -70 -47 -26 -13 -8 IDA 6 70 223 57 93 39 125 64 6 55 DEBT SERVICE (LTDS) 46 359 582 558 560 593 451 435 497 530 Public and publicly guaranteed 30 232 507 477 489 511 387 356 429 504 Official creditors 14 84 314 346 360 354 240 255 264 349 Multilateral 2 49 227 186 175 178 150 124 111 144 Concessional 0 2 18 37 40 50 56 60 70 82 Bilateral 12 35 87 160 185 176 90 131 154 206 Concessional 7 13 40 68 68 78 43 55 122 181 Private creditors 16 147 193 132 130 158 147 101 165 154 Bonds 13 1 0 0 0 0 0 0 0 0 Commercial banks 0 55 166 112 110 109 133 91 161 146 Other private 2 91 28 20 20 48 14 10 4 8 Private nonguaranteed 16 127 75 81 71 82 64 79 68 26 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 16 127 75 81 71 82 64 79 68 26 Memo: IBRD 1 42 173 97 83 70 47 26 13 8 IDA 0 2 11 26 30 39 45 51 60 67 UNDISBURSED DEBT 119 1,331 1,964 1,199 1,305 1,164 1,026 996 881 741 Official creditors 119 1,241 1,603 1,087 1,071 1,032 992 835 682 719 Private creditors 0 91 361 112 233 133 33 161 199 22 Memorandum items Concessional LDOD 170 684 2,378 3,751 4,098 4,139 4,122 4,141 4,618 5,027 Variable rate LDOD 88 690 1,090 532 460 356 277 176 178 288 Public sector LDOD 321 2,056 4,759 5,093 5,513 5,343 5,082 4,759 5,222 5,704 Private sector LDOD 88 437 880 325 280 220 175 109 49 24 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 13.2 13.7 14.2 Deutsche mark 5.9 9.8 1.7 2.4 2.3 2.1 1.9 .. .. .. French franc 0.0 9.0 6.7 4.9 4.9 3.5 2.6 .. .. .. Japanese yen 0.2 4.6 8.4 17.3 17.8 20.5 20.5 19.3 21.2 19.6 Pound sterling 76.5 14.3 8.7 3.6 4.1 3.3 2.5 1.8 1.4 1.1 Swiss franc 0.0 2.3 3.4 2.9 2.4 1.9 1.4 0.9 0.6 0.3 U.S.dollars 15.7 35.9 30.9 41.9 44.3 46.6 49.6 51.4 50.5 52.6 Multiple currency 1.2 14.9 24.4 10.4 7.5 6.4 5.6 5.4 5.0 4.9 Special drawing rights 0.0 0.0 0.3 0.4 0.4 0.4 0.6 0.6 0.6 0.6 All other currencies 0.5 9.2 15.5 16.1 16.3 15.3 15.3 7.3 7.0 6.8 295 KENYA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 0 0 0 143 114 0 10 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 145 90 0 9 Official .. .. 0 0 0 0 140 81 0 0 Private .. .. 0 0 0 0 5 9 0 9 Interest rescheduled .. .. 0 0 0 0 37 15 0 1 Official .. .. 0 0 0 0 36 13 0 0 Private .. .. 0 0 0 0 1 2 0 1 Debt forgiven .. .. 84 26 0 0 10 0 0 1 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 .. .. 1,166 -349 359 -351 -292 -608 538 655 Net flows on debt 45 718 613 -6 -141 -321 84 -381 77 213 Net change in interest arrears .. .. 30 18 31 11 -22 -9 17 -17 Interest capitalized .. .. 0 0 0 0 37 15 0 1 Debt forgiveness or reduction .. .. -84 -26 0 0 -10 0 0 -1 Cross-currency valuation .. .. 89 -969 -298 -140 -302 -271 392 512 Residual .. .. 518 634 768 99 -78 38 53 -54 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.5 3.5 4.3 1.8 3.3 3.3 1.1 3.5 3.8 1.9 Maturity (years) 37.3 31.3 24.7 31.4 18.9 28.2 38.6 23.5 11.0 27.1 Grace period (years) 7.9 8.0 7.4 9.1 4.9 5.7 9.9 5.4 2.3 6.4 Grant element (%) 62.6 53.3 44.6 66.5 40.6 46.5 76.2 45.6 25.4 56.5 Official creditors Interest (%) 2.4 3.5 3.1 1.6 0.9 2.0 1.1 1.9 0.9 1.4 Maturity (years) 37.9 31.5 29.3 32.9 37.3 37.1 39.0 34.1 31.1 35.1 Grace period (years) 8.0 8.1 8.4 9.6 9.3 7.6 10.0 8.7 8.0 8.9 Grant element (%) 63.7 53.6 56.7 69.6 76.8 61.5 77.1 67.7 69.8 71.2 Private creditors Interest (%) 7.0 8.0 7.4 4.3 5.0 7.0 7.5 4.9 4.8 3.0 Maturity (years) 11.2 5.9 12.8 4.1 5.2 3.6 5.9 13.4 3.7 6.8 Grace period (years) 1.7 -0.6 4.9 0.4 1.7 0.6 1.4 2.2 0.2 0.3 Grant element (%) 12.4 5.2 13.2 10.5 13.7 5.0 6.7 24.8 9.2 19.4 Memorandum items Commitments 50 518 803 273 485 144 355 292 252 208 Official creditors 48 514 579 259 206 105 350 142 67 149 Private creditors 1 4 224 14 279 38 5 150 184 59 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 216 158 115 85 58 38 28 14 6 3 Principal 355 301 282 277 268 250 253 271 275 270 Interest 90 82 76 73 68 63 58 55 50 45 Official creditors Disbursements 196 156 115 85 58 38 28 14 6 3 Principal 224 224 227 235 239 226 234 257 261 256 Interest 76 73 69 68 64 59 55 53 48 44 Bilateral creditors Disbursements 37 46 31 21 13 7 4 1 1 0 Principal 132 130 128 134 137 124 123 136 132 123 Interest 46 43 40 40 37 34 30 29 25 22 Multilateral creditors Disbursements 158 110 83 64 45 31 24 13 5 2 Principal 92 94 99 101 101 102 111 122 129 133 Interest 30 30 29 28 27 26 25 24 23 22 Private creditors Disbursements 20 2 0 0 0 0 0 0 0 0 Principal 131 77 54 42 29 24 19 14 14 14 Interest 13 9 7 5 4 3 2 2 2 1 Commercial banks Disbursements 20 2 0 0 0 0 0 0 0 0 Principal 105 58 39 31 18 13 13 13 13 13 Interest 10 7 5 4 3 3 2 2 2 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 26 19 15 11 11 11 6 1 1 1 Interest 3 2 2 1 1 0 0 0 0 0 296 KYRGYZ REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,341 1,505 1,736 1,827 1,717 1,850 2,021 Long-term debt (LDOD) .. .. .. 1,143 1,302 1,485 1,510 1,490 1,647 1,780 Public and publicly guaranteed .. .. .. 751 934 1,134 1,220 1,256 1,397 1,588 Private nonguaranteed .. .. .. 392 368 350 290 234 250 192 Use of IMF credit .. .. .. 165 175 190 188 179 185 202 Short-term debt .. .. .. 33 28 61 129 48 19 39 of which interest arrears on LDOD .. .. .. 0 0 11 10 3 10 3 Official creditors .. .. .. 0 0 10 9 3 1 1 Private creditors .. .. .. 0 0 0 1 0 8 1 Memo: principal arrears on LDOD .. .. .. 1 0 21 28 2 10 8 Official creditors .. .. .. 1 0 19 25 1 4 6 Private creditors .. .. .. 0 0 3 3 1 6 1 Memo: export credits .. .. .. 54 96 88 76 75 59 64 TOTAL DEBT FLOWS Disbursements .. .. .. 209 179 245 180 139 151 125 Long-term debt .. .. .. 165 164 218 161 124 136 96 IMF purchases .. .. .. 44 15 27 19 15 15 30 Principal repayments .. .. .. 20 53 58 97 128 147 119 Long-term debt .. .. .. 10 41 51 86 111 124 87 IMF repurchases .. .. .. 10 12 7 11 17 24 32 Net flows on debt .. .. .. 214 121 208 152 -64 -31 34 of which short-term debt .. .. .. 25 -5 22 69 -75 -35 27 Interest payments (INT) .. .. .. 58 62 52 76 49 26 17 Long-term debt .. .. .. 54 58 47 69 44 24 15 IMF charges .. .. .. 3 3 2 2 2 1 1 Short-term debt .. .. .. 1 2 3 5 3 1 1 Net transfers on debt .. .. .. 156 59 156 76 -113 -58 17 Total debt service paid (TDS) .. .. .. 78 115 110 173 177 173 136 Long-term debt .. .. .. 64 99 98 155 155 147 102 IMF repurchases and charges .. .. .. 13 14 9 14 19 25 33 Short-term debt (interest only) .. .. .. 1 2 3 5 3 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 284 280 261 117 53 58 101 Net flow of long-term debt (ex. IMF) .. .. .. 155 123 167 75 13 12 9 Foreign direct investment (net) .. .. .. 84 109 44 -2 5 5 46 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 45 48 50 44 35 41 46 Memo: technical coop. grants .. .. .. 26 43 42 38 42 72 68 official net resource flows .. .. .. 177 192 230 179 126 112 113 private net resource flows .. .. .. 107 88 32 -62 -73 -54 -12 NET TRANSFERS .. .. .. 229 214 209 9 -18 16 58 Interest on long-term debt .. .. .. 54 58 47 69 44 24 15 Profit remittances on FDI .. .. .. 1 8 5 39 27 18 27 Memo: official net transfers .. .. .. 159 170 216 159 108 99 101 private net transfers .. .. .. 70 44 -6 -150 -126 -83 -43 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 1,703 1,567 1,175 1,286 1,460 1,549 1,847 Exports of goods, serv. & inc. (XGS) .. .. .. 685 613 540 633 594 707 851 Worker remit. & comp. of employees .. .. .. 3 2 9 50 28 67 108 Imports of goods & services (MGS) .. .. .. 889 1,023 791 756 643 763 888 International reserves (RES) .. .. .. 170 188 254 262 287 317 399 Current account balance .. .. .. -139 -364 -184 -79 -20 -28 -26 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 195.7 245.7 321.7 288.8 289.1 261.8 237.6 EDT / GNI (%) .. .. .. 78.7 96.1 147.7 142.1 117.6 119.4 109.4 TDS / XGS (%) .. .. .. 11.4 18.7 20.4 27.4 29.8 24.5 16.0 INT / XGS (%) .. .. .. 8.5 10.1 9.6 12.0 8.2 3.7 2.0 INT / GNI (%) .. .. .. 3.4 4.0 4.4 5.9 3.3 1.7 0.9 RES / EDT (%) .. .. .. 12.7 12.5 14.6 14.3 16.7 17.1 19.8 RES / MGS (months) .. .. .. 2.3 2.2 3.9 4.2 5.3 5.0 5.4 Short-term / EDT (%) .. .. .. 2.5 1.9 3.5 7.1 2.8 1.0 1.9 Concessional / EDT (%) .. .. .. 34.6 41.9 46.1 48.1 56.6 62.5 68.2 Multilateral / EDT (%) .. .. .. 29.4 35.7 37.8 39.5 44.8 47.9 50.3 297 KYRGYZ REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 1,143 1,302 1,485 1,510 1,490 1,647 1,780 Public and publicly guaranteed .. .. .. 751 934 1,134 1,220 1,256 1,397 1,588 Official creditors .. .. .. 721 901 1,098 1,183 1,222 1,387 1,580 Multilateral .. .. .. 394 537 657 722 770 886 1,016 Concessional .. .. .. 358 493 585 647 702 826 967 Bilateral .. .. .. 327 364 441 461 452 501 564 Concessional .. .. .. 106 138 216 233 269 330 412 Private creditors .. .. .. 30 33 37 37 35 10 8 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 30 30 30 28 23 0 0 Other private .. .. .. 0 3 7 9 12 10 8 Private nonguaranteed .. .. .. 392 368 350 290 234 250 192 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 392 368 350 290 234 250 192 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 251 328 342 377 389 454 530 DISBURSEMENTS .. .. .. 165 164 218 161 124 136 96 Public and publicly guaranteed .. .. .. 165 163 186 153 115 80 79 Official creditors .. .. .. 142 160 181 149 113 80 79 Multilateral .. .. .. 125 123 120 107 92 67 65 Concessional .. .. .. 119 112 90 97 91 67 65 Bilateral .. .. .. 16 37 62 42 20 13 15 Concessional .. .. .. 6 22 61 42 20 13 15 Private creditors .. .. .. 23 3 4 4 2 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 23 0 0 0 0 0 0 Other private .. .. .. 0 3 4 4 2 0 0 Private nonguaranteed .. .. .. 0 1 32 8 10 56 16 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 1 32 8 10 56 16 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 67 66 22 52 27 33 32 PRINCIPAL REPAYMENTS .. .. .. 10 41 51 86 111 124 87 Public and publicly guaranteed .. .. .. 10 17 2 17 30 32 13 Official creditors .. .. .. 10 17 1 13 22 9 13 Multilateral .. .. .. 1 4 1 8 8 9 13 Concessional .. .. .. 0 0 0 0 0 0 1 Bilateral .. .. .. 9 13 1 5 13 0 0 Concessional .. .. .. 1 3 0 1 1 0 0 Private creditors .. .. .. 0 0 0 4 8 24 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 2 5 23 0 Other private .. .. .. 0 0 0 2 3 1 0 Private nonguaranteed .. .. .. 0 25 49 69 82 91 74 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 25 49 69 82 91 74 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 1 NET FLOWS ON DEBT .. .. .. 155 123 167 75 13 12 9 Public and publicly guaranteed .. .. .. 155 147 184 136 85 48 67 Official creditors .. .. .. 132 144 180 136 91 71 67 Multilateral .. .. .. 124 119 119 100 84 58 52 Concessional .. .. .. 119 112 90 97 91 66 63 Bilateral .. .. .. 8 25 61 36 7 13 15 Concessional .. .. .. 5 19 61 40 19 13 15 Private creditors .. .. .. 23 3 4 0 -6 -24 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 23 0 0 -2 -5 -23 0 Other private .. .. .. 0 3 4 2 -2 -1 0 Private nonguaranteed .. .. .. 0 -24 -17 -60 -72 -35 -58 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 -24 -17 -60 -72 -35 -58 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 67 66 22 52 27 33 32 298 KYRGYZ REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 54 58 47 69 44 24 15 Public and publicly guaranteed .. .. .. 20 24 16 23 21 13 12 Official creditors .. .. .. 19 22 14 20 18 13 12 Multilateral .. .. .. 5 7 7 11 11 10 10 Concessional .. .. .. 2 3 5 5 6 7 8 Bilateral .. .. .. 14 15 7 10 8 3 1 Concessional .. .. .. 3 3 5 6 4 1 1 Private creditors .. .. .. 1 2 2 2 2 1 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 1 2 2 2 2 0 0 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 34 34 31 47 23 10 4 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 34 34 31 47 23 10 4 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 2 2 2 3 3 3 4 NET TRANSFERS ON DEBT .. .. .. 101 65 120 6 -31 -11 -6 Public and publicly guaranteed .. .. .. 135 123 169 113 64 34 55 Official creditors .. .. .. 113 122 166 115 73 59 55 Multilateral .. .. .. 119 112 112 89 73 48 42 Concessional .. .. .. 117 109 86 92 85 60 56 Bilateral .. .. .. -6 10 55 27 0 10 14 Concessional .. .. .. 2 15 57 34 15 12 14 Private creditors .. .. .. 22 1 2 -2 -9 -24 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 22 -2 -2 -5 -6 -23 0 Other private .. .. .. 0 3 4 2 -2 -1 0 Private nonguaranteed .. .. .. -34 -58 -49 -107 -95 -46 -61 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. -34 -58 -49 -107 -95 -46 -61 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 65 64 19 49 24 30 28 DEBT SERVICE (LTDS) .. .. .. 64 99 98 155 155 147 102 Public and publicly guaranteed .. .. .. 30 40 17 40 50 46 24 Official creditors .. .. .. 28 38 15 34 40 22 24 Multilateral .. .. .. 6 11 8 18 19 19 23 Concessional .. .. .. 2 3 5 5 6 7 9 Bilateral .. .. .. 22 27 7 15 21 3 1 Concessional .. .. .. 4 6 5 7 6 1 1 Private creditors .. .. .. 1 2 2 6 10 24 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 1 2 2 5 6 23 0 Other private .. .. .. 0 0 0 2 4 1 0 Private nonguaranteed .. .. .. 34 59 81 115 105 102 78 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 34 59 81 115 105 102 78 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 2 2 2 3 3 3 4 UNDISBURSED DEBT .. .. .. 422 567 526 471 403 386 361 Official creditors .. .. .. 422 558 521 470 403 386 361 Private creditors .. .. .. 0 9 5 1 0 0 0 Memorandum items Concessional LDOD .. .. .. 464 631 801 880 971 1,156 1,378 Variable rate LDOD .. .. .. 644 593 586 525 413 400 323 Public sector LDOD .. .. .. 751 934 1,134 1,220 1,256 1,397 1,588 Private sector LDOD .. .. .. 392 368 350 290 234 250 192 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.2 2.5 3.2 Deutsche mark .. .. .. 2.5 2.9 2.3 2.0 .. .. .. French franc .. .. .. 0.1 0.5 0.3 0.3 .. .. .. Japanese yen .. .. .. 10.3 11.3 15.0 15.0 13.6 14.1 14.5 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 75.5 71.7 67.2 67.9 69.8 68.7 67.7 Multiple currency .. .. .. 11.3 13.3 13.1 11.8 10.6 10.5 10.2 Special drawing rights .. .. .. 0.0 0.0 0.1 0.2 0.2 0.3 0.3 All other currencies .. .. .. 0.2 0.2 1.9 2.8 3.6 3.9 4.1 299 KYRGYZ REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 3 41 0 32 108 25 41 Debt stock rescheduled .. .. .. 3 41 0 0 45 0 0 Principal rescheduled .. .. .. 0 0 0 22 49 14 28 Official .. .. .. 0 0 0 22 49 12 26 Private .. .. .. 0 0 0 0 0 2 2 Interest rescheduled .. .. .. 0 0 0 1 13 11 12 Official .. .. .. 0 0 0 1 13 11 12 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 .. .. .. 204 164 231 91 -110 133 170 Net flows on debt .. .. .. 214 121 208 152 -64 -31 34 Net change in interest arrears .. .. .. 0 0 11 -1 -6 6 -7 Interest capitalized .. .. .. 0 0 0 1 13 11 12 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 0 0 Cross-currency valuation .. .. .. -64 -9 6 -67 -68 96 125 Residual .. .. .. 54 52 6 6 15 51 7 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 3.7 2.1 1.3 1.0 1.3 1.2 0.8 Maturity (years) .. .. .. 24.3 33.6 23.9 35.8 28.2 31.4 38.9 Grace period (years) .. .. .. 6.8 11.6 7.2 9.5 9.0 8.4 10.2 Grant element (%) .. .. .. 45.7 65.9 58.8 76.4 68.7 70.9 79.5 Official creditors Interest (%) .. .. .. 3.4 2.0 1.3 1.0 1.3 1.2 0.8 Maturity (years) .. .. .. 26.0 34.7 24.2 35.8 28.4 31.4 38.9 Grace period (years) .. .. .. 7.3 12.0 7.3 9.5 9.1 8.4 10.2 Grant element (%) .. .. .. 49.2 67.7 59.4 76.4 69.1 70.9 79.5 Private creditors Interest (%) .. .. .. 7.0 3.7 1.4 0.0 3.0 0.0 0.0 Maturity (years) .. .. .. 5.1 6.7 1.3 0.0 8.4 0.0 0.0 Grace period (years) .. .. .. 0.5 2.3 0.8 0.0 2.9 0.0 0.0 Grant element (%) .. .. .. 6.3 22.4 8.7 0.0 28.4 0.0 0.0 Memorandum items Commitments .. .. .. 282 284 147 201 74 73 29 Official creditors .. .. .. 259 273 145 201 73 73 29 Private creditors .. .. .. 23 11 2 0 1 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 127 94 48 34 25 15 9 5 3 2 Principal 109 104 69 68 78 84 82 111 70 67 Interest 41 38 32 32 32 32 30 29 27 26 Official creditors Disbursements 127 94 48 34 25 15 9 5 3 2 Principal 55 65 52 57 68 75 74 65 65 67 Interest 28 28 30 31 32 32 30 29 27 26 Bilateral creditors Disbursements 25 25 4 2 1 0 0 0 0 0 Principal 41 48 32 32 34 36 36 25 25 26 Interest 17 16 16 16 15 14 13 12 11 10 Multilateral creditors Disbursements 102 69 44 32 24 15 9 5 3 2 Principal 13 17 20 25 34 39 38 40 40 41 Interest 11 12 14 15 17 17 17 16 16 15 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 54 38 17 11 11 9 8 46 4 1 Interest 13 10 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 54 38 17 11 11 9 8 46 4 1 Interest 13 10 2 1 0 0 0 0 0 0 300 LAO PEOPLE'S DEMOCRATIC REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 8 350 1,768 2,320 2,437 2,527 2,502 2,495 2,665 2,846 Long-term debt (LDOD) 8 333 1,757 2,247 2,373 2,471 2,453 2,456 2,620 2,801 Public and publicly guaranteed 8 333 1,757 2,247 2,373 2,471 2,453 2,456 2,620 2,801 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 16 8 66 62 53 42 37 43 44 Short-term debt 0 1 2 7 1 3 7 1 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 2 1 1 1 0 0 0 Official creditors 0 1 1 2 1 1 1 0 0 0 Private creditors 0 3 0 0 0 0 0 0 0 0 Memo: export credits 0 0 3 58 17 9 11 9 11 8 TOTAL DEBT FLOWS Disbursements 6 60 152 143 95 81 82 107 97 110 Long-term debt 6 55 152 135 95 81 82 101 85 104 IMF purchases 0 4 0 8 0 0 0 6 12 6 Principal repayments 1 1 6 20 23 28 31 33 34 38 Long-term debt 1 1 5 15 16 19 23 24 25 29 IMF repurchases 0 0 1 5 6 8 8 9 9 9 Net flows on debt 4 59 147 119 66 54 55 68 63 72 of which short-term debt 0 0 1 -4 -6 1 4 -6 0 0 Interest payments (INT) 0 1 3 8 8 9 10 10 11 12 Long-term debt 0 1 3 7 8 9 9 10 10 12 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 0 0 0 0 0 0 0 0 0 Net transfers on debt 4 57 144 111 58 45 45 58 52 60 Total debt service paid (TDS) 2 2 9 28 31 37 41 44 45 50 Long-term debt 2 2 8 22 24 28 32 34 35 40 IMF repurchases and charges 0 0 1 5 7 8 8 10 9 9 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 33 70 199 251 197 205 228 194 200 218 Net flow of long-term debt (ex. IMF) 4 54 146 120 78 61 59 77 60 75 Foreign direct investment (net) 0 0 6 0 0 0 34 24 25 19 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 28 16 47 132 119 144 135 93 115 123 Memo: technical coop. grants 40 14 30 64 68 75 74 79 82 80 official net resource flows 33 70 193 251 197 205 194 170 175 198 private net resource flows 0 0 6 0 0 0 34 24 25 20 NET TRANSFERS 32 69 196 234 176 183 181 148 148 160 Interest on long-term debt 0 1 3 7 8 9 9 10 10 12 Profit remittances on FDI 0 0 0 11 14 13 37 36 42 46 Memo: official net transfers 32 69 190 244 190 196 185 160 165 186 private net transfers 0 0 6 -11 -14 -13 -3 -12 -17 -27 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 866 1,704 1,248 1,428 1,657 1,715 1,694 2,084 Exports of goods, serv. & inc. (XGS) .. .. 105 435 494 479 513 483 434 481 Worker remit. & comp. of employees 0 0 11 41 50 1 1 1 1 1 Imports of goods & services (MGS) .. .. 215 741 644 629 638 599 505 551 International reserves (RES) .. .. 8 117 117 135 144 151 216 257 Current account balance .. .. -55 -206 -77 90 -8 -82 .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 1,690.3 533.1 493.3 527.8 487.5 516.4 614.3 591.3 EDT / GNI (%) .. .. 204.3 136.1 195.2 176.9 151.0 145.5 157.3 136.6 TDS / XGS (%) .. .. 8.7 6.4 6.3 7.7 7.9 9.0 10.3 10.3 INT / XGS (%) .. .. 2.9 1.8 1.7 2.0 1.9 2.1 2.4 2.5 INT / GNI (%) .. .. 0.4 0.5 0.7 0.7 0.6 0.6 0.6 0.6 RES / EDT (%) .. .. 0.5 5.0 4.8 5.4 5.7 6.0 8.1 9.0 RES / MGS (months) .. .. 0.5 1.9 2.2 2.6 2.7 3.0 5.1 5.6 Short-term / EDT (%) 0.0 0.4 0.1 0.3 0.1 0.1 0.3 0.0 0.0 0.0 Concessional / EDT (%) 90.2 93.3 99.1 96.7 97.3 97.7 98.0 98.4 98.3 98.4 Multilateral / EDT (%) 0.0 5.9 15.1 35.1 39.0 41.6 41.6 42.0 45.9 49.6 301 LAO PEOPLE'S DEMOCRATIC REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 8 333 1,757 2,247 2,373 2,471 2,453 2,456 2,620 2,801 Public and publicly guaranteed 8 333 1,757 2,247 2,373 2,471 2,453 2,456 2,620 2,801 Official creditors 8 327 1,757 2,247 2,373 2,471 2,453 2,456 2,620 2,801 Multilateral 0 21 266 814 950 1,050 1,041 1,049 1,223 1,412 Concessional 0 21 266 814 950 1,050 1,041 1,049 1,223 1,412 Bilateral 8 306 1,491 1,433 1,423 1,421 1,412 1,407 1,397 1,388 Concessional 8 306 1,485 1,430 1,420 1,419 1,410 1,406 1,397 1,388 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 6 131 358 395 405 403 415 473 561 DISBURSEMENTS 6 55 152 135 95 81 82 101 85 104 Public and publicly guaranteed 6 55 152 135 95 81 82 101 85 104 Official creditors 6 55 152 135 95 81 82 101 85 104 Multilateral 0 7 78 132 95 70 73 88 85 104 Concessional 0 7 78 132 95 70 73 88 85 104 Bilateral 6 48 74 2 0 10 8 13 0 0 Concessional 6 48 74 2 0 10 8 13 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 5 32 42 25 21 20 31 33 48 PRINCIPAL REPAYMENTS 1 1 5 15 16 19 23 24 25 29 Public and publicly guaranteed 1 1 5 15 16 19 23 24 25 29 Official creditors 1 1 5 15 16 19 23 24 25 29 Multilateral 0 0 3 3 5 6 9 11 12 16 Concessional 0 0 3 3 5 6 9 11 12 16 Bilateral 1 1 3 12 12 14 14 13 13 13 Concessional 1 1 2 11 11 13 13 12 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 2 4 4 6 7 NET FLOWS ON DEBT 4 54 146 120 78 61 59 77 60 75 Public and publicly guaranteed 4 54 146 120 78 61 59 77 60 75 Official creditors 5 54 146 120 78 61 59 77 60 75 Multilateral 0 7 75 129 90 65 64 77 73 88 Concessional 0 7 75 129 90 65 64 77 73 88 Bilateral 5 47 71 -9 -12 -4 -5 0 -13 -13 Concessional 5 47 72 -9 -11 -3 -5 1 -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 5 32 41 24 19 17 27 27 42 302 LAO PEOPLE'S DEMOCRATIC REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 1 3 7 8 9 9 10 10 12 Public and publicly guaranteed 0 1 3 7 8 9 9 10 10 12 Official creditors 0 1 3 7 8 9 9 10 10 12 Multilateral 0 0 2 7 7 9 9 9 10 11 Concessional 0 0 2 7 7 9 9 9 10 11 Bilateral 0 1 1 1 0 0 1 0 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 3 3 3 3 3 4 NET TRANSFERS ON DEBT 4 53 144 112 71 52 49 67 50 63 Public and publicly guaranteed 4 53 144 112 71 52 49 67 50 63 Official creditors 4 53 144 112 71 52 49 67 50 63 Multilateral 0 7 73 122 83 56 55 68 63 77 Concessional 0 7 73 122 83 56 55 68 63 77 Bilateral 4 46 70 -10 -12 -4 -6 0 -13 -13 Concessional 4 46 71 -9 -11 -3 -5 0 -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 5 31 38 21 16 14 24 24 38 DEBT SERVICE (LTDS) 2 2 8 22 24 28 32 34 35 40 Public and publicly guaranteed 2 2 8 22 24 28 32 34 35 40 Official creditors 1 2 8 22 24 28 32 34 35 40 Multilateral 0 0 5 10 12 15 18 20 22 27 Concessional 0 0 5 10 12 15 18 20 22 27 Bilateral 1 2 4 12 12 14 14 14 13 13 Concessional 1 2 3 12 11 13 14 13 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 4 5 7 7 9 11 UNDISBURSED DEBT 10 253 221 456 478 378 344 385 359 398 Official creditors 9 253 221 456 478 378 344 385 359 398 Private creditors 1 0 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 8 327 1,752 2,243 2,370 2,469 2,451 2,455 2,620 2,801 Variable rate LDOD 0 0 0 0 0 0 0 0 0 0 Public sector LDOD 8 333 1,757 2,247 2,373 2,471 2,453 2,456 2,620 2,801 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 0.0 Deutsche mark 77.3 10.3 1.8 0.0 0.0 0.0 0.0 .. .. .. French franc 12.9 4.3 0.3 0.1 0.1 0.1 0.0 .. .. .. Japanese yen 0.0 7.7 1.5 0.7 0.7 1.1 1.2 1.5 1.4 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 15.6 16.6 16.7 17.4 19.1 21.9 25.8 Multiple currency 0.0 3.0 7.1 19.5 22.1 24.3 23.6 21.9 23.0 22.8 Special drawing rights 0.0 0.0 1.1 1.3 1.4 1.5 1.6 1.8 1.9 1.9 All other currencies 0.0 71.1 81.1 62.8 59.0 56.2 56.2 55.7 51.8 48.1 303 LAO PEOPLE'S DEMOCRATIC REPUBLIC (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 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 57 117 90 -25 -8 170 182 Net flows on debt 4 59 147 119 66 54 55 68 63 72 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 -114 -6 9 -73 -70 100 134 Residual .. .. 7 51 56 26 -7 -5 8 -24 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.0 0.2 0.9 2.6 1.7 1.2 1.4 1.2 0.8 1.2 Maturity (years) 28.2 33.0 39.9 39.1 39.4 33.8 31.6 32.9 39.6 32.2 Grace period (years) 4.4 25.5 10.0 10.1 9.9 8.7 8.1 8.8 10.1 8.5 Grant element (%) 51.1 91.1 79.0 63.6 71.7 72.8 69.9 72.4 80.5 71.5 Official creditors Interest (%) 2.5 0.2 0.9 2.6 1.7 1.2 1.4 1.2 0.8 1.2 Maturity (years) 30.8 33.0 39.9 39.1 39.4 33.8 31.6 32.9 39.6 32.2 Grace period (years) 4.2 25.5 10.0 10.1 9.9 8.7 8.1 8.8 10.1 8.5 Grant element (%) 55.8 91.1 79.0 63.6 71.7 72.8 69.9 72.4 80.5 71.5 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 96 125 143 128 8 68 145 45 120 Official creditors 11 96 125 143 128 8 68 145 45 120 Private creditors 2 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 116 83 62 45 33 22 15 9 5 3 Principal 32 100 91 95 105 110 114 120 123 125 Interest 14 15 18 21 21 21 21 20 20 19 Official creditors Disbursements 116 83 62 45 33 22 15 9 5 3 Principal 32 100 91 95 105 110 114 120 123 125 Interest 14 15 18 21 21 21 21 20 20 19 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 12 78 65 65 65 65 65 65 65 65 Interest 0 0 0 0 0 0 0 0 0 0 Multilateral creditors Disbursements 116 83 62 45 33 22 15 9 5 3 Principal 20 22 26 31 40 45 50 55 58 60 Interest 13 14 18 20 21 21 21 20 20 19 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 0 304 LATVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 2,759 3,115 4,061 4,855 5,293 6,808 8,803 Long-term debt (LDOD) .. .. .. 953 1,348 1,940 1,979 2,234 2,630 3,166 Public and publicly guaranteed .. .. .. 314 404 865 827 978 1,124 1,238 Private nonguaranteed .. .. .. 639 944 1,075 1,151 1,256 1,507 1,928 Use of IMF credit .. .. .. 86 64 47 35 24 16 6 Short-term debt .. .. .. 1,720 1,703 2,075 2,842 3,035 4,163 5,632 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 .. .. .. 166 82 79 56 48 43 48 TOTAL DEBT FLOWS Disbursements .. .. .. 317 533 849 410 960 580 900 Long-term debt .. .. .. 317 533 849 410 960 580 900 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 166 161 219 330 645 490 752 Long-term debt .. .. .. 129 136 204 319 635 480 741 IMF repurchases .. .. .. 37 25 15 10 10 10 11 Net flows on debt .. .. .. 1,070 355 1,002 848 508 1,218 1,393 of which short-term debt .. .. .. 919 -18 372 767 193 1,128 1,245 Interest payments (INT) .. .. .. 110 146 177 270 199 160 182 Long-term debt .. .. .. 42 57 71 107 92 95 122 IMF charges .. .. .. 5 4 2 2 1 1 0 Short-term debt .. .. .. 63 86 103 161 106 64 60 Net transfers on debt .. .. .. 960 208 825 578 309 1,058 1,211 Total debt service paid (TDS) .. .. .. 276 308 396 599 845 650 934 Long-term debt .. .. .. 171 194 275 426 727 575 863 IMF repurchases and charges .. .. .. 42 28 17 12 11 10 11 Short-term debt (interest only) .. .. .. 63 86 103 161 106 64 60 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 765 855 1,070 561 569 445 597 Net flow of long-term debt (ex. IMF) .. .. .. 188 397 645 91 324 100 159 Foreign direct investment (net) .. .. .. 521 357 348 410 164 254 300 Portfolio equity flows .. .. .. 6 30 7 -7 1 23 39 Grants (excluding technical coop.) .. .. .. 50 71 71 68 80 68 99 Memo: technical coop. grants .. .. .. 24 24 20 15 13 10 15 official net resource flows .. .. .. 112 166 350 86 97 77 26 private net resource flows .. .. .. 653 689 720 475 472 368 570 NET TRANSFERS .. .. .. 653 715 875 362 379 245 266 Interest on long-term debt .. .. .. 42 57 71 107 92 95 122 Profit remittances on FDI .. .. .. 70 82 124 92 99 105 209 Memo: official net transfers .. .. .. 97 150 330 52 63 46 -9 private net transfers .. .. .. 556 565 545 310 316 199 275 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 6,187 6,669 7,166 7,758 8,274 9,201 11,013 Exports of goods, serv. & inc. (XGS) .. .. .. 3,050 3,330 3,074 3,470 3,705 4,080 5,056 Worker remit. & comp. of employees .. .. .. 46 49 49 131 206 138 171 Imports of goods & services (MGS) .. .. .. 3,471 4,101 3,818 4,017 4,471 4,966 6,502 International reserves (RES) .. .. .. 832 873 944 919 1,217 1,327 1,536 Current account balance .. .. .. -345 -650 -654 -355 -626 -621 -917 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 90.5 93.5 132.1 139.9 142.9 166.9 174.1 EDT / GNI (%) .. .. .. 44.6 46.7 56.7 62.6 64.0 74.0 79.9 TDS / XGS (%) .. .. .. 9.0 9.2 12.9 17.3 22.8 15.9 18.5 INT / XGS (%) .. .. .. 3.6 4.4 5.7 7.8 5.4 3.9 3.6 INT / GNI (%) .. .. .. 1.8 2.2 2.5 3.5 2.4 1.7 1.7 RES / EDT (%) .. .. .. 30.2 28.0 23.3 18.9 23.0 19.5 17.5 RES / MGS (months) .. .. .. 2.9 2.6 3.0 2.7 3.3 3.2 2.8 Short-term / EDT (%) .. .. .. 62.3 54.7 51.1 58.5 57.3 61.1 64.0 Concessional / EDT (%) .. .. .. 2.5 2.4 1.7 1.0 0.8 0.9 0.9 Multilateral / EDT (%) .. .. .. 7.2 9.2 13.2 11.2 10.2 8.9 7.3 305 LATVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 953 1,348 1,940 1,979 2,234 2,630 3,166 Public and publicly guaranteed .. .. .. 314 404 865 827 978 1,124 1,238 Official creditors .. .. .. 273 365 607 591 582 660 687 Multilateral .. .. .. 199 286 535 543 539 606 640 Concessional .. .. .. 0 0 0 0 0 11 29 Bilateral .. .. .. 74 79 72 49 43 54 47 Concessional .. .. .. 70 75 70 48 42 53 47 Private creditors .. .. .. 41 39 258 236 397 464 551 Bonds .. .. .. 0 0 226 209 375 446 537 Commercial banks .. .. .. 6 8 6 4 3 2 1 Other private .. .. .. 35 32 26 22 19 16 13 Private nonguaranteed .. .. .. 639 944 1,075 1,151 1,256 1,507 1,928 Bonds .. .. .. 30 30 30 0 0 0 0 Commercial banks and other .. .. .. 609 914 1,045 1,151 1,256 1,507 1,928 Memo: IBRD .. .. .. 120 186 200 242 243 263 185 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 317 533 849 410 960 580 900 Public and publicly guaranteed .. .. .. 104 107 535 94 242 55 60 Official creditors .. .. .. 93 104 291 91 61 55 60 Multilateral .. .. .. 75 100 291 91 57 44 57 Concessional .. .. .. 0 0 0 0 0 11 17 Bilateral .. .. .. 18 4 0 1 4 11 3 Concessional .. .. .. 14 3 0 1 4 11 3 Private creditors .. .. .. 11 3 245 3 181 0 0 Bonds .. .. .. 0 0 240 0 179 0 0 Commercial banks .. .. .. 0 2 2 0 0 0 0 Other private .. .. .. 11 1 3 3 2 0 0 Private nonguaranteed .. .. .. 213 427 314 316 718 525 839 Bonds .. .. .. 30 0 0 0 0 0 0 Commercial banks and other .. .. .. 183 427 314 316 718 525 839 Memo: IBRD .. .. .. 53 82 28 63 22 14 3 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 129 136 204 319 635 480 741 Public and publicly guaranteed .. .. .. 68 14 21 81 50 52 138 Official creditors .. .. .. 30 9 12 73 45 46 133 Multilateral .. .. .. 25 5 7 53 39 41 117 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 5 3 4 19 5 5 16 Concessional .. .. .. 4 2 3 18 5 5 16 Private creditors .. .. .. 37 6 9 8 6 6 5 Bonds .. .. .. 33 0 0 0 0 0 0 Commercial banks .. .. .. 0 1 3 1 1 1 1 Other private .. .. .. 4 5 7 6 4 4 4 Private nonguaranteed .. .. .. 61 122 183 239 585 428 603 Bonds .. .. .. 0 0 0 30 0 0 0 Commercial banks and other .. .. .. 61 122 183 209 585 428 603 Memo: IBRD .. .. .. 0 4 4 9 11 16 109 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 188 397 645 91 324 100 159 Public and publicly guaranteed .. .. .. 36 92 515 14 192 3 -78 Official creditors .. .. .. 63 95 279 18 17 9 -72 Multilateral .. .. .. 50 95 283 37 18 3 -60 Concessional .. .. .. 0 0 0 0 0 11 17 Bilateral .. .. .. 12 0 -4 -19 -1 6 -13 Concessional .. .. .. 10 1 -3 -18 0 6 -12 Private creditors .. .. .. -26 -3 235 -4 175 -6 -5 Bonds .. .. .. -33 0 240 0 179 0 0 Commercial banks .. .. .. 0 1 -1 -1 -1 -1 -1 Other private .. .. .. 6 -4 -4 -3 -3 -4 -4 Private nonguaranteed .. .. .. 152 305 131 77 132 97 237 Bonds .. .. .. 30 0 0 -30 0 0 0 Commercial banks and other .. .. .. 122 305 131 107 132 97 237 Memo: IBRD .. .. .. 53 78 23 54 11 -3 -106 IDA .. .. .. 0 0 0 0 0 0 0 306 LATVIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 42 57 71 107 92 95 122 Public and publicly guaranteed .. .. .. 19 17 20 50 47 48 53 Official creditors .. .. .. 15 16 19 34 34 31 36 Multilateral .. .. .. 11 12 16 31 32 29 34 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 4 3 3 3 2 2 2 Concessional .. .. .. 3 3 3 3 2 2 2 Private creditors .. .. .. 4 1 1 16 13 17 18 Bonds .. .. .. 2 0 0 15 12 16 17 Commercial banks .. .. .. 0 0 0 0 0 0 0 Other private .. .. .. 2 1 1 1 1 1 0 Private nonguaranteed .. .. .. 23 40 51 57 45 47 69 Bonds .. .. .. 0 2 2 2 0 0 0 Commercial banks and other .. .. .. 23 38 49 55 45 47 69 Memo: IBRD .. .. .. 6 8 13 12 13 11 13 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 146 340 574 -16 233 5 36 Public and publicly guaranteed .. .. .. 17 75 494 -36 145 -44 -131 Official creditors .. .. .. 47 79 260 -15 -17 -22 -108 Multilateral .. .. .. 39 83 267 6 -14 -26 -94 Concessional .. .. .. 0 0 0 0 0 11 17 Bilateral .. .. .. 8 -3 -7 -22 -3 5 -14 Concessional .. .. .. 7 -2 -6 -21 -2 5 -14 Private creditors .. .. .. -31 -4 234 -20 162 -23 -23 Bonds .. .. .. -35 0 240 -15 167 -16 -17 Commercial banks .. .. .. 0 1 -1 -2 -1 -1 -1 Other private .. .. .. 4 -5 -5 -4 -3 -5 -4 Private nonguaranteed .. .. .. 129 265 80 20 88 49 167 Bonds .. .. .. 30 -2 -2 -32 0 0 0 Commercial banks and other .. .. .. 99 267 82 52 88 49 167 Memo: IBRD .. .. .. 47 70 10 42 -2 -14 -119 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 171 194 275 426 727 575 863 Public and publicly guaranteed .. .. .. 87 32 41 130 97 99 192 Official creditors .. .. .. 46 25 31 107 78 77 169 Multilateral .. .. .. 36 18 24 84 71 70 151 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 9 7 7 22 7 6 18 Concessional .. .. .. 7 5 6 21 7 6 17 Private creditors .. .. .. 42 7 10 24 19 23 23 Bonds .. .. .. 35 0 0 15 12 16 17 Commercial banks .. .. .. 0 1 3 2 1 1 1 Other private .. .. .. 6 6 7 7 5 5 4 Private nonguaranteed .. .. .. 83 162 234 296 630 476 672 Bonds .. .. .. 0 2 2 32 0 0 0 Commercial banks and other .. .. .. 83 160 232 264 630 476 672 Memo: IBRD .. .. .. 6 12 17 21 24 28 123 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 245 257 262 194 168 178 182 Official creditors .. .. .. 232 246 256 192 168 178 182 Private creditors .. .. .. 13 11 6 2 0 0 0 Memorandum items Concessional LDOD .. .. .. 70 75 70 48 42 64 76 Variable rate LDOD .. .. .. 877 1,262 1,631 1,697 1,781 2,107 2,516 Public sector LDOD .. .. .. 303 394 858 818 964 1,103 1,215 Private sector LDOD .. .. .. 650 954 1,082 1,160 1,270 1,528 1,950 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 69.9 73.1 82.2 Deutsche mark .. .. .. 10.2 17.6 7.5 7.6 .. .. .. French franc .. .. .. 0.0 0.0 0.3 0.6 .. .. .. Japanese yen .. .. .. 13.7 11.8 5.7 4.7 3.2 2.7 1.4 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.0 0.6 0.4 0.6 0.4 0.3 0.2 U.S.dollars .. .. .. 43.8 40.6 18.5 20.0 16.2 15.1 15.6 Multiple currency .. .. .. 30.9 28.2 14.2 13.7 10.1 8.7 0.5 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 1.4 1.2 53.5 52.8 0.1 0.1 0.1 307 LATVIA (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 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 .. .. .. 1,528 356 946 794 438 1,515 1,994 Net flows on debt .. .. .. 1,070 355 1,002 848 508 1,218 1,393 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 .. .. .. -25 17 2 -49 -28 125 164 Residual .. .. .. 483 -16 -57 -5 -42 173 213 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 5.7 5.1 6.2 5.8 4.9 2.4 2.6 Maturity (years) .. .. .. 13.8 17.4 8.9 14.7 8.8 18.4 14.1 Grace period (years) .. .. .. 4.1 4.5 7.6 5.8 6.5 5.4 3.9 Grant element (%) .. .. .. 22.9 30.0 19.5 23.8 26.2 49.9 38.8 Official creditors Interest (%) .. .. .. 5.7 5.1 5.9 5.8 2.5 2.4 2.6 Maturity (years) .. .. .. 14.0 17.4 7.2 14.7 19.0 18.4 14.1 Grace period (years) .. .. .. 4.3 4.5 4.8 5.8 4.0 5.4 3.9 Grant element (%) .. .. .. 23.1 30.0 17.6 23.8 47.1 49.9 38.8 Private creditors Interest (%) .. .. .. 5.4 0.0 6.6 0.0 5.4 0.0 0.0 Maturity (years) .. .. .. 12.0 0.0 11.0 0.0 7.0 0.0 0.0 Grace period (years) .. .. .. 2.5 0.0 11.0 0.0 7.0 0.0 0.0 Grant element (%) .. .. .. 21.4 0.0 22.0 0.0 22.5 0.0 0.0 Memorandum items Commitments .. .. .. 102 89 535 98 211 55 54 Official creditors .. .. .. 90 89 295 98 32 55 54 Private creditors .. .. .. 12 0 240 0 179 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 56 50 32 19 13 7 3 1 0 0 Principal 744 314 524 252 490 231 546 43 43 35 Interest 126 104 93 67 57 32 22 6 4 3 Official creditors Disbursements 56 50 32 19 13 7 3 1 0 0 Principal 323 47 47 49 50 48 75 40 34 31 Interest 30 12 12 11 10 9 7 5 4 3 Bilateral creditors Disbursements 6 4 2 1 0 0 0 0 0 0 Principal 3 3 3 3 3 3 35 0 0 0 Interest 2 2 2 2 2 1 1 0 0 0 Multilateral creditors Disbursements 50 46 30 19 13 7 3 1 0 0 Principal 320 44 44 46 47 44 40 40 34 30 Interest 28 10 10 9 8 7 6 5 4 3 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 421 267 476 203 440 184 471 3 9 4 Interest 96 91 81 57 47 24 15 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 420 267 476 203 440 184 471 3 9 4 Interest 96 91 81 57 47 24 15 0 0 0 308 LEBANON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 64 510 1,779 5,029 6,793 8,205 9,856 12,446 17,077 18,598 Long-term debt (LDOD) 64 216 358 3,234 4,833 6,003 7,315 9,788 14,530 15,474 Public and publicly guaranteed 64 216 358 2,349 4,048 5,332 6,579 8,952 13,829 14,778 Private nonguaranteed 0 0 0 885 785 671 736 836 701 696 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 294 1,421 1,795 1,961 2,202 2,541 2,658 2,547 3,124 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 0 345 730 337 290 302 478 366 443 TOTAL DEBT FLOWS Disbursements 12 120 12 1,381 1,726 1,556 2,315 3,261 5,649 2,434 Long-term debt 12 120 12 1,381 1,726 1,556 2,315 3,261 5,649 2,434 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 2 7 27 437 168 279 876 684 1,114 1,820 Long-term debt 2 7 27 437 168 279 876 684 1,114 1,820 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 10 236 726 1,086 1,723 1,519 1,778 2,694 4,424 1,190 of which short-term debt 0 124 742 142 166 241 339 117 -111 577 Interest payments (INT) 1 45 72 296 358 489 593 778 1,073 1,431 Long-term debt 1 6 11 201 263 361 461 646 963 1,276 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 39 61 95 95 128 132 132 110 155 Net transfers on debt 8 191 654 791 1,365 1,030 1,185 1,916 3,351 -241 Total debt service paid (TDS) 4 53 99 733 526 768 1,469 1,462 2,188 3,252 Long-term debt 4 13 38 638 431 640 1,337 1,330 2,078 3,097 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 39 61 95 95 128 132 132 110 155 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 12 299 203 1,214 1,909 1,558 1,871 2,947 4,943 1,081 Net flow of long-term debt (ex. IMF) 10 112 -16 944 1,557 1,277 1,439 2,577 4,535 614 Foreign direct investment (net) 0 -12 6 150 200 250 298 249 257 358 Portfolio equity flows 0 0 0 0 44 -51 1 8 4 3 Grants (excluding technical coop.) 3 199 213 119 108 82 133 113 147 106 Memo: technical coop. grants 9 19 39 43 46 59 55 63 78 101 official net resource flows 12 242 190 239 274 164 185 187 140 687 private net resource flows 0 58 13 974 1,635 1,394 1,686 2,760 4,803 394 NET TRANSFERS 11 293 192 1,013 1,646 1,197 1,409 2,301 3,980 -195 Interest on long-term debt 1 6 11 201 263 361 461 646 963 1,276 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: official net transfers 11 236 181 209 240 124 140 159 101 626 private net transfers 0 57 11 804 1,406 1,073 1,269 2,142 3,879 -822 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 3,461 15,297 16,991 17,431 17,420 17,530 17,995 18,123 Exports of goods, serv. & inc. (XGS) .. .. 3,023 3,889 3,338 3,185 3,385 3,470 3,802 4,922 Worker remit. & comp. of employees 0 0 1,818 1,225 1,225 1,402 1,582 2,307 2,500 2,700 Imports of goods & services (MGS) .. .. 2,908 8,024 7,360 6,542 6,484 7,369 7,209 8,446 International reserves (RES) 405 7,025 4,210 8,653 9,210 10,452 8,475 7,564 10,405 16,367 Current account balance .. .. 115 -4,087 -3,952 -3,247 -3,046 -3,407 -3,348 -3,382 4. DEBT INDICATORS EDT / XGS (%) .. .. 58.8 129.3 203.5 257.6 291.2 358.7 449.2 377.9 EDT / GNI (%) .. .. 51.4 32.9 40.0 47.1 56.6 71.0 94.9 102.6 TDS / XGS (%) .. .. 3.3 18.8 15.8 24.1 43.4 42.1 57.5 66.1 INT / XGS (%) .. .. 2.4 7.6 10.7 15.4 17.5 22.4 28.2 29.1 INT / GNI (%) .. .. 2.1 1.9 2.1 2.8 3.4 4.4 6.0 7.9 RES / EDT (%) 630.4 1,376.6 236.7 172.1 135.6 127.4 86.0 60.8 60.9 88.0 RES / MGS (months) .. .. 17.4 12.9 15.0 19.2 15.7 12.3 17.3 23.3 Short-term / EDT (%) 0.0 57.6 79.9 35.7 28.9 26.8 25.8 21.4 14.9 16.8 Concessional / EDT (%) 47.4 14.5 6.2 9.3 8.2 7.1 5.7 4.4 3.2 6.3 Multilateral / EDT (%) 28.5 15.2 4.7 7.4 8.1 7.5 6.2 5.3 4.2 7.7 309 LEBANON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 64 216 358 3,234 4,833 6,003 7,315 9,788 14,530 15,474 Public and publicly guaranteed 64 216 358 2,349 4,048 5,332 6,579 8,952 13,829 14,778 Official creditors 64 146 188 710 904 948 931 954 1,010 1,737 Multilateral 18 78 84 371 551 613 616 663 720 1,437 Concessional 0 21 30 186 262 295 288 286 285 912 Bilateral 46 68 104 339 353 335 315 291 289 300 Concessional 30 53 81 281 294 288 276 256 253 263 Private creditors 0 71 169 1,639 3,144 4,384 5,648 7,998 12,820 13,041 Bonds 0 0 0 1,040 2,499 3,681 5,260 7,612 12,517 12,800 Commercial banks 0 70 0 579 625 686 374 374 291 231 Other private 0 1 169 20 19 17 15 12 12 10 Private nonguaranteed 0 0 0 885 785 671 736 836 701 696 Bonds 0 0 0 885 785 671 736 836 701 696 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD 18 27 34 151 199 234 248 259 313 362 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 12 120 12 1,381 1,726 1,556 2,315 3,261 5,649 2,434 Public and publicly guaranteed 12 120 12 906 1,726 1,510 2,200 3,061 5,509 2,274 Official creditors 12 50 5 146 193 141 118 123 88 679 Multilateral 0 17 0 75 175 112 102 107 79 668 Concessional 0 5 0 25 76 50 52 31 14 579 Bilateral 12 32 5 71 19 29 16 16 10 12 Concessional 6 17 5 63 18 27 15 15 9 12 Private creditors 0 70 6 761 1,532 1,369 2,082 2,937 5,421 1,595 Bonds 0 0 0 644 1,450 1,240 2,031 2,900 5,420 1,590 Commercial banks 0 70 0 116 82 129 51 37 1 4 Other private 0 0 6 0 0 0 0 0 0 0 Private nonguaranteed 0 0 0 475 0 46 115 200 140 160 Bonds 0 0 0 475 0 46 115 200 140 160 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD 0 8 0 39 48 48 42 48 65 57 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 2 7 27 437 168 279 876 684 1,114 1,820 Public and publicly guaranteed 2 7 27 437 68 119 826 584 839 1,655 Official creditors 2 7 27 26 27 59 66 49 95 99 Multilateral 1 3 6 12 12 32 39 29 66 75 Concessional 0 0 0 4 2 14 18 2 22 25 Bilateral 1 4 21 14 15 27 27 20 29 23 Concessional 1 4 1 13 12 21 21 16 25 18 Private creditors 0 0 0 411 41 60 760 534 744 1,557 Bonds 0 0 0 400 0 0 400 500 659 1,477 Commercial banks 0 0 0 10 40 58 358 32 84 78 Other private 0 0 0 1 2 2 2 2 1 2 Private nonguaranteed 0 0 0 0 100 160 50 100 275 165 Bonds 0 0 0 0 100 160 50 100 275 165 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD 1 3 6 8 9 12 17 24 29 34 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 10 112 -16 944 1,557 1,277 1,439 2,577 4,535 614 Public and publicly guaranteed 10 112 -16 469 1,657 1,391 1,374 2,477 4,670 619 Official creditors 10 43 -22 120 167 82 52 74 -7 581 Multilateral -1 14 -6 63 163 80 63 78 13 592 Concessional 0 5 0 21 73 37 35 29 -8 555 Bilateral 11 28 -16 57 4 2 -11 -4 -19 -11 Concessional 5 13 4 50 7 7 -6 0 -16 -6 Private creditors 0 70 6 349 1,491 1,309 1,322 2,403 4,677 38 Bonds 0 0 0 244 1,450 1,240 1,631 2,400 4,761 113 Commercial banks 0 70 0 106 42 71 -307 5 -83 -73 Other private 0 0 6 -1 -1 -2 -2 -2 -1 -2 Private nonguaranteed 0 0 0 475 -100 -114 65 100 -135 -5 Bonds 0 0 0 475 -100 -114 65 100 -135 -5 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD -1 4 -6 32 38 36 26 24 36 23 IDA 0 0 0 0 0 0 0 0 0 0 310 LEBANON (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 1 6 11 201 263 361 461 646 963 1,276 Public and publicly guaranteed 1 6 11 164 185 293 405 582 892 1,215 Official creditors 1 6 9 31 34 40 45 28 39 61 Multilateral 1 4 4 19 22 27 33 20 28 48 Concessional 0 1 0 7 8 11 13 2 8 26 Bilateral 0 2 5 11 13 13 12 7 12 13 Concessional 0 2 0 8 8 8 8 5 7 6 Private creditors 0 0 2 133 151 253 360 554 853 1,154 Bonds 0 0 0 81 99 191 300 536 806 1,118 Commercial banks 0 0 0 50 49 60 58 16 46 35 Other private 0 0 2 2 2 2 2 2 1 1 Private nonguaranteed 0 0 0 37 77 69 57 65 71 61 Bonds 0 0 0 37 77 69 57 65 71 61 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD 1 2 4 10 11 13 14 15 14 15 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 8 106 -27 744 1,295 916 978 1,931 3,572 -663 Public and publicly guaranteed 8 106 -27 306 1,472 1,099 970 1,895 3,778 -597 Official creditors 9 37 -31 89 132 43 8 46 -46 520 Multilateral -2 10 -11 44 141 53 30 57 -15 544 Concessional 0 5 0 13 65 26 22 27 -16 529 Bilateral 11 27 -21 46 -9 -10 -23 -11 -31 -24 Concessional 5 12 4 42 -1 -1 -14 -6 -23 -12 Private creditors 0 69 4 216 1,340 1,056 962 1,849 3,824 -1,117 Bonds 0 0 0 164 1,351 1,049 1,331 1,864 3,955 -1,005 Commercial banks 0 70 0 56 -7 11 -365 -11 -130 -108 Other private 0 0 4 -3 -4 -4 -4 -4 -2 -3 Private nonguaranteed 0 0 0 438 -177 -183 8 35 -206 -66 Bonds 0 0 0 438 -177 -183 8 35 -206 -66 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD -2 3 -11 22 28 24 11 9 22 7 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 4 13 38 638 431 640 1,337 1,330 2,078 3,097 Public and publicly guaranteed 4 13 38 601 253 412 1,230 1,165 1,732 2,871 Official creditors 4 13 37 57 61 98 111 77 135 159 Multilateral 2 7 11 32 34 59 72 50 94 124 Concessional 0 1 0 12 10 25 31 4 29 50 Bilateral 1 6 26 25 28 39 39 28 41 36 Concessional 1 6 1 21 20 29 29 21 32 23 Private creditors 0 1 2 544 192 313 1,120 1,088 1,597 2,711 Bonds 0 0 0 481 99 191 700 1,036 1,465 2,596 Commercial banks 0 0 0 60 89 118 416 48 130 112 Other private 0 0 2 3 4 4 4 4 2 3 Private nonguaranteed 0 0 0 37 177 229 107 165 346 226 Bonds 0 0 0 37 177 229 107 165 346 226 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD 2 5 11 18 20 25 31 38 43 49 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 1 401 116 1,118 988 775 781 654 774 792 Official creditors 1 164 79 898 813 712 751 638 750 768 Private creditors 0 237 37 220 175 63 31 16 24 24 Memorandum items Concessional LDOD 30 74 111 467 557 583 564 543 538 1,176 Variable rate LDOD 0 70 0 1,048 997 914 1,216 1,325 1,244 1,062 Public sector LDOD 64 216 358 2,349 4,022 5,306 6,553 8,926 13,812 14,778 Private sector LDOD 0 0 0 885 811 697 762 862 718 696 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 12.9 8.1 13.4 Deutsche mark 0.0 0.7 5.3 8.3 5.1 3.2 2.4 .. .. .. French franc 21.9 6.0 31.7 4.5 2.7 1.8 1.4 .. .. .. Japanese yen 0.0 0.0 0.5 0.0 0.0 0.1 0.1 0.1 0.1 0.2 Pound sterling 0.0 0.0 0.7 0.1 0.0 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 62.0 72.9 67.5 71.3 79.1 86.5 81.3 Multiple currency 0.0 18.4 9.4 6.6 5.0 4.5 3.8 2.9 2.2 2.2 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 All other currencies 33.3 21.2 10.8 18.6 14.3 22.7 20.9 5.1 3.2 2.9 311 LEBANON (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 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 1,033 1,764 1,412 1,651 2,590 4,631 1,521 Net flows on debt 10 236 726 1,086 1,723 1,519 1,778 2,694 4,424 1,190 Net change in interest arrears .. .. 10 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 .. .. 17 -48 40 -67 -88 -76 250 263 Residual .. .. 3 -6 2 -40 -39 -28 -43 68 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.9 3.0 0.0 6.6 8.3 8.7 9.0 10.0 7.1 3.4 Maturity (years) 20.4 12.4 0.0 12.0 6.2 7.4 5.5 6.7 9.8 11.2 Grace period (years) 1.4 2.6 0.0 8.1 4.9 7.0 4.7 6.5 3.5 3.9 Grant element (%) 42.0 34.3 0.0 20.9 7.2 5.4 3.7 -0.9 17.9 25.9 Official creditors Interest (%) 2.9 2.7 0.0 2.2 5.9 5.7 7.5 3.2 3.5 4.8 Maturity (years) 20.4 15.1 0.0 22.0 18.7 13.6 14.7 17.0 17.6 15.3 Grace period (years) 1.4 3.9 0.0 6.0 5.7 4.8 5.2 1.8 7.2 3.8 Grant element (%) 42.0 42.2 0.0 53.9 27.0 24.1 14.0 37.3 43.3 29.5 Private creditors Interest (%) 0.0 3.0 0.0 8.0 8.5 8.8 9.1 10.1 7.2 2.8 Maturity (years) 0.0 11.9 0.0 8.9 5.0 7.2 4.9 6.6 9.5 9.4 Grace period (years) 0.0 2.4 0.0 8.8 4.9 7.1 4.7 6.6 3.4 4.0 Grant element (%) 0.0 32.9 0.0 10.6 5.3 4.8 3.0 -1.3 17.0 24.3 Memorandum items Commitments 7 92 0 859 1,622 1,297 2,188 2,932 5,609 2,283 Official creditors 7 14 0 206 136 36 137 31 182 686 Private creditors 0 78 0 654 1,486 1,261 2,051 2,901 5,427 1,597 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 201 188 134 96 65 41 27 16 10 9 Principal 2,638 3,043 2,418 764 1,297 1,241 596 581 549 535 Interest 1,082 833 576 478 422 323 231 206 181 158 Official creditors Disbursements 187 182 132 95 65 41 27 16 10 9 Principal 130 138 220 201 203 217 216 206 174 160 Interest 81 80 78 72 66 60 52 43 35 29 Bilateral creditors Disbursements 67 65 41 23 11 5 3 0 0 0 Principal 35 36 36 36 35 39 36 33 29 24 Interest 11 11 10 9 8 9 7 7 6 5 Multilateral creditors Disbursements 120 117 91 73 54 36 24 16 10 9 Principal 94 102 183 165 168 177 181 172 145 136 Interest 71 70 68 63 58 52 44 37 30 24 Private creditors Disbursements 15 6 2 1 0 0 0 0 0 0 Principal 2,509 2,905 2,198 563 1,094 1,024 379 376 375 375 Interest 1,001 752 498 406 356 263 180 163 146 129 Commercial banks Disbursements 15 6 2 1 0 0 0 0 0 0 Principal 55 55 51 19 16 16 6 3 2 2 Interest 16 12 8 4 3 2 1 1 1 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2,453 2,849 2,148 545 1,078 1,009 373 373 373 373 Interest 985 740 490 401 352 261 179 162 145 128 312 LESOTHO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 8.1 71.9 395.6 673.5 688.2 682.1 671.8 597.7 657.8 706.5 Long-term debt (LDOD) 8.1 57.7 377.7 641.9 660.5 661.0 656.7 578.5 631.8 675.9 Public and publicly guaranteed 8.1 57.7 377.7 641.9 660.5 661.0 656.7 578.5 631.8 675.9 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 6.2 15.1 27.5 23.6 17.1 11.1 15.2 22.0 26.6 Short-term debt 0.0 8.0 2.8 4.0 4.1 4.0 4.0 4.0 4.0 4.0 of which interest arrears on LDOD 0.0 0.0 0.8 0.0 0.1 0.0 0.0 0.0 0.0 0.0 Official creditors 0.0 0.0 0.5 0.0 0.1 0.0 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 TOTAL DEBT FLOWS Disbursements 0.4 15.0 62.0 68.2 64.5 52.6 69.4 38.5 57.3 31.2 Long-term debt 0.4 13.3 57.9 68.2 64.5 52.6 69.4 29.5 48.3 26.3 IMF purchases 0.0 1.7 4.1 0.0 0.0 0.0 0.0 8.9 9.1 4.9 Principal repayments 0.3 3.4 15.0 27.4 29.4 32.8 38.3 50.9 53.2 52.5 Long-term debt 0.3 3.4 14.8 23.1 24.5 27.0 33.2 46.6 49.4 50.0 IMF repurchases 0.0 0.0 0.2 4.3 4.9 5.9 5.2 4.3 3.8 2.5 Net flows on debt 0.1 19.6 47.0 40.9 35.1 19.8 31.0 -12.4 4.2 -21.4 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 20.3 22.3 21.9 23.2 17.8 14.9 14.3 Long-term debt 0.2 1.5 8.0 20.0 22.0 21.6 22.9 17.5 14.7 14.2 IMF charges 0.0 0.0 0.1 0.2 0.1 0.2 0.0 0.1 0.1 0.1 Short-term debt 0.0 0.6 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.0 Net transfers on debt -0.1 17.5 38.7 20.5 12.8 -2.1 7.8 -30.2 -10.7 -35.7 Total debt service paid (TDS) 0.5 5.5 23.3 47.7 51.7 54.8 61.5 68.6 68.0 66.9 Long-term debt 0.5 4.8 22.8 43.1 46.5 48.5 56.1 64.1 64.1 64.2 IMF repurchases and charges 0.0 0.0 0.3 4.4 5.0 6.0 5.2 4.4 3.9 2.7 Short-term debt (interest only) 0.0 0.6 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7.4 66.5 120.1 351.9 337.9 211.6 181.6 130.5 122.4 69.0 Net flow of long-term debt (ex. IMF) 0.1 10.0 43.1 45.1 40.0 25.7 36.2 -17.0 -1.1 -23.8 Foreign direct investment (net) 0.0 4.5 17.1 268.1 264.8 163.3 117.8 117.0 80.8 41.9 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.) 7.3 52.0 59.9 38.7 33.1 22.7 27.6 30.5 42.7 50.8 Memo: technical coop. grants 2.6 32.0 44.5 29.0 17.9 12.4 11.3 13.6 12.1 14.9 official net resource flows 7.2 59.7 103.0 62.1 48.2 39.7 68.6 18.1 49.6 33.2 private net resource flows 0.1 6.8 17.1 289.8 289.7 171.9 112.9 112.3 72.8 35.8 NET TRANSFERS 7.1 59.0 99.4 291.3 264.6 161.6 143.6 96.9 96.1 44.8 Interest on long-term debt 0.2 1.5 8.0 20.0 22.0 21.6 22.9 17.5 14.7 14.2 Profit remittances on FDI 0.0 6.0 12.7 40.6 51.3 28.5 15.0 16.0 11.6 10.0 Memo: official net transfers 7.1 59.1 96.9 48.5 35.5 28.0 52.7 6.8 40.7 25.9 private net transfers 0.1 -0.1 2.4 242.8 229.2 133.6 91.0 90.1 55.4 19.0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 89.0 694.8 1,021.4 1,358.2 1,140.6 1,155.2 1,078.7 942.9 898.8 1,380.2 Exports of goods, serv. & inc. (XGS) .. 363.5 555.0 731.2 605.8 541.9 542.7 555.7 581.4 758.2 Worker remit. & comp. of employees 0.0 263.0 428.0 379.0 295.0 276.0 252.0 209.0 184.0 184.0 Imports of goods & services (MGS) .. 482.4 775.9 1,202.0 1,041.8 909.8 832.8 784.2 819.5 1,035.7 International reserves (RES) .. 50.3 72.4 571.7 575.1 499.6 417.9 386.5 406.4 460.3 Current account balance .. 56.3 65.0 -269.2 -280.2 -220.8 -151.4 -95.1 -118.8 .. 4. DEBT INDICATORS EDT / XGS (%) .. 19.8 71.3 92.1 113.6 125.9 123.8 107.6 113.1 93.2 EDT / GNI (%) 9.1 10.4 38.7 49.6 60.3 59.0 62.3 63.4 73.2 51.2 TDS / XGS (%) .. 1.5 4.2 6.5 8.5 10.1 11.3 12.4 11.7 8.8 INT / XGS (%) .. 0.6 1.5 2.8 3.7 4.0 4.3 3.2 2.6 1.9 INT / GNI (%) 0.2 0.3 0.8 1.5 2.0 1.9 2.1 1.9 1.7 1.0 RES / EDT (%) .. 69.9 18.3 84.9 83.6 73.2 62.2 64.7 61.8 65.2 RES / MGS (months) .. 1.3 1.1 5.7 6.6 6.6 6.0 5.9 6.0 5.3 Short-term / EDT (%) 0.0 11.1 0.7 0.6 0.6 0.6 0.6 0.7 0.6 0.6 Concessional / EDT (%) 87.0 61.6 73.7 64.6 65.1 66.5 66.7 72.0 74.5 75.9 Multilateral / EDT (%) 50.5 56.0 73.6 69.7 72.7 71.8 70.8 77.8 75.2 74.8 313 LESOTHO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 8.1 57.7 377.7 641.9 660.5 661.0 656.7 578.5 631.8 675.9 Public and publicly guaranteed 8.1 57.7 377.7 641.9 660.5 661.0 656.7 578.5 631.8 675.9 Official creditors 7.6 46.4 344.0 565.5 568.1 569.8 580.9 520.8 568.9 605.7 Multilateral 4.1 40.3 291.0 469.6 500.6 490.0 475.7 465.0 494.5 528.4 Concessional 4.1 40.3 251.6 374.3 401.7 401.5 389.6 385.5 431.5 476.7 Bilateral 3.5 6.1 53.1 95.9 67.5 79.8 105.3 55.8 74.4 77.3 Concessional 3.0 4.1 40.1 60.4 46.3 52.2 58.6 44.6 58.7 59.8 Private creditors 0.5 11.4 33.7 76.5 92.5 91.1 75.8 57.7 62.9 70.3 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 2.0 6.0 67.0 88.1 89.8 74.5 56.8 61.9 69.2 Other private 0.5 9.4 27.7 9.4 4.4 1.4 1.2 0.8 0.9 1.0 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 58.3 60.8 56.0 58.6 54.9 36.7 18.6 IDA 4.1 24.1 111.7 162.9 180.1 185.0 183.2 187.1 217.8 247.3 DISBURSEMENTS 0.4 13.3 57.9 68.2 64.5 52.6 69.4 29.5 48.3 26.3 Public and publicly guaranteed 0.4 13.3 57.9 68.2 64.5 52.6 69.4 29.5 48.3 26.3 Official creditors 0.2 8.0 51.4 43.8 35.4 37.3 67.4 27.2 48.3 23.9 Multilateral 0.0 6.5 32.0 37.3 29.1 16.2 21.2 23.1 34.0 23.9 Concessional 0.0 6.5 28.3 23.4 23.1 16.0 10.9 19.7 30.5 21.3 Bilateral 0.2 1.5 19.4 6.5 6.3 21.0 46.2 4.1 14.3 0.0 Concessional 0.2 0.9 15.2 5.9 4.6 12.3 17.0 3.9 12.3 0.0 Private creditors 0.2 5.3 6.5 24.4 29.1 15.4 2.0 2.3 0.0 2.4 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 2.0 3.0 23.8 29.1 15.4 2.0 2.3 0.0 2.4 Other private 0.2 3.3 3.5 0.6 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 8.2 3.4 0.1 9.9 3.2 3.5 2.6 IDA 0.0 3.8 9.2 11.6 14.3 10.2 7.8 12.7 22.2 15.6 PRINCIPAL REPAYMENTS 0.3 3.4 14.8 23.1 24.5 27.0 33.2 46.6 49.4 50.0 Public and publicly guaranteed 0.3 3.4 14.8 23.1 24.5 27.0 33.2 46.6 49.4 50.0 Official creditors 0.3 0.4 8.3 20.4 20.3 20.2 26.4 39.5 41.4 41.6 Multilateral 0.0 0.2 5.4 13.2 15.4 16.1 14.1 16.3 35.6 33.3 Concessional 0.0 0.2 3.0 7.5 7.5 8.1 7.2 8.8 9.0 10.3 Bilateral 0.3 0.2 2.9 7.2 4.9 4.0 12.2 23.3 5.8 8.2 Concessional 0.2 0.2 0.9 4.9 2.7 2.5 5.2 22.2 4.7 6.7 Private creditors 0.0 3.0 6.5 2.7 4.2 6.8 6.8 7.0 8.0 8.4 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 0.0 0.6 2.3 4.1 6.7 6.8 7.0 7.9 8.4 Other private 0.0 3.0 5.9 0.4 0.1 0.1 0.0 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 0.0 0.0 2.2 4.5 4.2 3.9 4.0 24.7 21.2 IDA 0.0 0.0 0.6 1.6 1.9 2.1 2.5 3.2 3.7 4.0 NET FLOWS ON DEBT 0.1 10.0 43.1 45.1 40.0 25.7 36.2 -17.0 -1.1 -23.8 Public and publicly guaranteed 0.1 10.0 43.1 45.1 40.0 25.7 36.2 -17.0 -1.1 -23.8 Official creditors -0.1 7.6 43.1 23.4 15.1 17.1 41.1 -12.3 6.9 -17.7 Multilateral 0.0 6.4 26.6 24.1 13.7 0.1 7.1 6.9 -1.6 -9.4 Concessional 0.0 6.4 25.3 15.9 15.6 7.9 3.7 10.9 21.5 11.0 Bilateral -0.1 1.3 16.5 -0.7 1.4 17.0 33.9 -19.2 8.5 -8.2 Concessional 0.0 0.7 14.3 1.0 1.9 9.8 11.9 -18.3 7.7 -6.7 Private creditors 0.1 2.3 0.0 21.7 24.9 8.6 -4.9 -4.7 -8.0 -6.1 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 2.0 2.4 21.5 25.0 8.7 -4.8 -4.6 -7.9 -6.0 Other private 0.1 0.3 -2.5 0.2 -0.1 -0.1 0.0 -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 0.0 0.0 6.0 -1.1 -4.1 6.0 -0.8 -21.3 -18.6 IDA 0.0 3.8 8.6 10.0 12.5 8.1 5.3 9.5 18.5 11.6 314 LESOTHO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.2 1.5 8.0 20.0 22.0 21.6 22.9 17.5 14.7 14.2 Public and publicly guaranteed 0.2 1.5 8.0 20.0 22.0 21.6 22.9 17.5 14.7 14.2 Official creditors 0.2 0.6 6.1 13.6 12.8 11.7 16.0 11.3 8.9 7.3 Multilateral 0.0 0.4 4.7 9.2 9.0 8.9 7.7 6.9 7.2 5.6 Concessional 0.0 0.3 2.1 3.5 3.7 3.7 3.3 3.0 3.6 4.0 Bilateral 0.2 0.2 1.4 4.4 3.7 2.8 8.3 4.4 1.7 1.7 Concessional 0.1 0.0 0.6 1.6 1.3 0.9 5.1 3.3 0.7 0.7 Private creditors 0.0 0.9 1.9 6.4 9.2 9.8 7.0 6.2 5.8 6.9 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 0.3 0.3 6.3 9.2 9.8 7.0 6.2 5.8 6.8 Other private 0.0 0.6 1.6 0.1 0.1 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 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 3.7 3.7 3.7 3.2 3.0 2.6 0.7 IDA 0.0 0.2 0.8 1.2 1.2 1.3 1.4 1.4 1.5 1.7 NET TRANSFERS ON DEBT -0.1 8.5 35.1 25.1 18.0 4.1 13.3 -34.5 -15.8 -37.9 Public and publicly guaranteed -0.1 8.5 35.1 25.1 18.0 4.1 13.3 -34.5 -15.8 -37.9 Official creditors -0.2 7.1 37.0 9.8 2.4 5.4 25.1 -23.7 -2.0 -25.0 Multilateral 0.0 6.0 21.9 14.9 4.7 -8.8 -0.6 0.0 -8.8 -15.0 Concessional 0.0 6.1 23.1 12.4 11.9 4.2 0.4 7.9 17.9 7.0 Bilateral -0.2 1.1 15.2 -5.1 -2.3 14.2 25.7 -23.6 6.8 -10.0 Concessional -0.1 0.7 13.7 -0.6 0.6 8.9 6.8 -21.6 7.0 -7.5 Private creditors 0.1 1.4 -2.0 15.3 15.7 -1.2 -11.8 -10.9 -13.8 -12.9 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 1.8 2.2 15.2 15.8 -1.1 -11.8 -10.8 -13.7 -12.8 Other private 0.1 -0.3 -4.1 0.1 -0.2 -0.1 0.0 -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 0.0 0.0 2.3 -4.7 -7.8 2.8 -3.8 -23.9 -19.3 IDA 0.0 3.6 7.9 8.8 11.2 6.7 3.9 8.1 17.0 10.0 DEBT SERVICE (LTDS) 0.5 4.8 22.8 43.1 46.5 48.5 56.1 64.1 64.1 64.2 Public and publicly guaranteed 0.5 4.8 22.8 43.1 46.5 48.5 56.1 64.1 64.1 64.2 Official creditors 0.4 1.0 14.4 34.0 33.0 31.9 42.3 50.9 50.3 48.9 Multilateral 0.0 0.5 10.2 22.4 24.4 25.1 21.8 23.2 42.8 38.9 Concessional 0.0 0.4 5.2 11.0 11.2 11.8 10.5 11.8 12.6 14.3 Bilateral 0.4 0.4 4.2 11.6 8.6 6.8 20.5 27.7 7.5 10.0 Concessional 0.3 0.3 1.5 6.5 4.0 3.4 10.3 25.5 5.4 7.5 Private creditors 0.1 3.9 8.5 9.1 13.5 16.6 13.8 13.2 13.8 15.3 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 0.3 0.9 8.6 13.3 16.5 13.8 13.1 13.7 15.2 Other private 0.1 3.6 7.6 0.5 0.2 0.1 0.0 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 0.0 0.0 5.8 8.1 7.9 7.1 7.0 27.4 21.9 IDA 0.0 0.2 1.4 2.8 3.1 3.5 3.9 4.6 5.2 5.6 UNDISBURSED DEBT 0.8 118.0 315.0 212.3 176.4 303.1 225.3 147.2 116.3 115.6 Official creditors 0.1 110.0 312.3 165.2 161.3 297.1 220.9 145.0 113.7 115.2 Private creditors 0.7 8.0 2.7 47.1 15.1 6.0 4.4 2.2 2.6 0.4 Memorandum items Concessional LDOD 7.1 44.3 291.7 434.7 448.0 453.7 448.3 430.1 490.2 536.6 Variable rate LDOD 0.0 2.0 0.0 58.3 60.8 64.7 91.6 58.9 39.9 23.1 Public sector LDOD 8.1 55.7 376.5 641.4 660.1 660.5 656.4 578.3 631.7 675.9 Private sector LDOD 0.0 2.0 1.2 0.6 0.5 0.4 0.3 0.2 0.1 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 10.7 10.9 11.5 Deutsche mark 0.0 0.0 0.4 0.0 0.0 0.0 0.0 .. .. .. French franc 0.0 0.0 7.5 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 1.4 1.9 2.1 1.8 1.8 1.5 1.3 Swiss franc 0.0 0.0 0.0 0.0 0.0 0.4 1.9 0.7 0.5 0.7 U.S.dollars 50.5 46.4 24.8 24.4 25.1 25.7 26.9 31.2 33.5 35.2 Multiple currency 0.0 7.0 5.6 16.7 16.0 15.2 13.5 12.8 9.1 6.4 Special drawing rights 0.0 0.0 9.9 6.2 6.3 6.0 5.7 6.1 5.9 5.9 All other currencies 6.5 30.1 50.1 44.8 46.5 47.1 47.1 36.8 38.6 39.1 315 LESOTHO (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 0.0 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 -27.8 14.8 -6.2 -10.2 -74.1 60.1 48.7 Net flows on debt 0.1 19.6 47.0 40.9 35.1 19.8 31.0 -12.4 4.2 -21.4 Net change in interest arrears .. .. 0.8 0.0 0.1 -0.1 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 .. .. -3.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 7.2 -36.0 0.0 -16.9 -27.0 -25.5 42.7 34.2 Residual .. .. 16.2 -32.6 -20.4 -9.0 -14.2 -36.2 13.2 35.9 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.0 5.9 1.3 5.1 4.6 2.7 0.4 0.8 1.5 0.8 Maturity (years) 18.1 24.3 24.3 13.1 23.5 17.1 17.6 42.9 40.9 39.7 Grace period (years) 1.9 5.7 6.0 2.7 6.6 3.5 5.2 13.4 8.6 10.2 Grant element (%) 31.9 37.3 63.2 25.5 39.9 40.0 50.3 82.8 71.3 80.5 Official creditors Interest (%) 0.0 3.0 1.0 4.0 4.6 2.7 0.3 0.8 1.5 0.8 Maturity (years) 25.0 29.8 25.1 16.1 23.5 17.4 18.0 42.9 40.9 39.7 Grace period (years) 5.5 6.7 6.2 3.3 6.6 3.5 5.4 13.4 8.6 10.2 Grant element (%) 72.7 52.7 65.9 34.7 39.9 40.6 51.6 82.8 71.3 80.5 Private creditors Interest (%) 7.5 15.8 8.4 6.7 0.0 4.1 4.6 0.0 0.0 0.0 Maturity (years) 14.6 5.5 5.9 8.6 0.0 7.1 2.0 0.0 0.0 0.0 Grace period (years) 0.1 2.2 1.8 1.8 0.0 2.6 0.5 0.0 0.0 0.0 Grant element (%) 10.9 -15.0 4.3 12.0 0.0 20.9 5.9 0.0 0.0 0.0 Memorandum items Commitments 0 58 46 21 67 198 34 43 18 21 Official creditors 0 45 44 12 67 192 33 43 18 21 Private creditors 0 13 2 8 0 6 1 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 27.0 24.8 18.8 13.5 11.9 7.7 5.3 3.0 1.4 0.9 Principal 44.9 41.4 40.8 32.0 29.2 26.0 24.2 24.5 25.4 24.4 Interest 14.6 13.7 12.7 11.7 10.9 10.3 9.9 9.5 9.2 8.8 Official creditors Disbursements 26.6 24.8 18.8 13.5 11.9 7.7 5.3 3.0 1.4 0.9 Principal 35.5 33.1 32.8 27.3 25.9 25.4 24.1 24.3 25.3 24.2 Interest 7.4 7.1 6.6 6.1 5.7 5.2 4.8 4.5 4.1 3.8 Bilateral creditors Disbursements 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 13.3 11.8 11.7 6.4 5.1 4.8 3.7 3.5 3.4 3.4 Interest 2.3 2.1 1.8 1.5 1.3 1.0 0.8 0.7 0.5 0.4 Multilateral creditors Disbursements 26.6 24.7 18.8 13.5 11.9 7.7 5.3 3.0 1.4 0.9 Principal 22.3 21.3 21.1 20.9 20.8 20.6 20.3 20.7 21.9 20.9 Interest 5.1 5.0 4.8 4.6 4.4 4.2 4.0 3.8 3.6 3.4 Private creditors Disbursements 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 9.3 8.3 8.1 4.7 3.3 0.6 0.2 0.2 0.2 0.2 Interest 7.2 6.6 6.0 5.5 5.3 5.1 5.1 5.1 5.1 5.0 Commercial banks Disbursements 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 8.3 8.3 8.1 4.7 3.3 0.6 0.2 0.2 0.2 0.2 Interest 7.1 6.6 6.0 5.5 5.3 5.1 5.1 5.1 5.1 5.0 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 316 LIBERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 162 686 1,849 2,012 2,103 2,077 2,032 2,164 2,324 2,567 Long-term debt (LDOD) 158 515 1,116 1,061 1,092 1,062 1,040 1,012 1,065 1,127 Public and publicly guaranteed 158 515 1,116 1,061 1,092 1,062 1,040 1,012 1,065 1,127 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 4 89 322 305 317 309 292 281 304 332 Short-term debt 0 81 411 646 693 707 699 871 956 1,108 of which interest arrears on LDOD 0 2 355 612 656 668 665 841 926 1,076 Official creditors 0 1 251 466 506 515 516 697 778 922 Private creditors 0 1 104 146 150 153 149 144 148 153 Memo: principal arrears on LDOD 0 3 722 940 991 999 1,053 1,175 1,137 1,236 Official creditors 0 2 530 749 792 795 856 986 941 1,032 Private creditors 0 1 192 192 199 204 197 189 196 204 Memo: export credits 0 0 203 320 261 314 270 255 182 158 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 1 1 1 1 0 0 Long-term debt 11 15 1 0 0 0 0 0 0 0 IMF repurchases 5 3 1 0 1 1 1 1 0 0 Net flows on debt -7 95 -1 -21 3 1 -5 -5 0 3 of which short-term debt 0 4 1 -21 4 1 -5 -5 0 3 Interest payments (INT) 6 35 1 0 0 2 0 0 1 0 Long-term debt 6 23 1 0 0 0 0 0 0 0 IMF charges 0 2 0 0 0 2 0 0 1 0 Short-term debt 0 11 0 0 0 0 0 0 0 0 Net transfers on debt -13 60 -2 -21 3 -1 -5 -6 -1 3 Total debt service paid (TDS) 23 54 3 0 1 3 1 1 1 0 Long-term debt 17 38 2 0 0 0 0 0 0 0 IMF repurchases and charges 5 5 1 0 1 3 1 1 1 0 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 59 283 250 109 68 40 58 99 Net flow of long-term debt (ex. IMF) -4 60 -1 0 0 0 0 0 0 0 Foreign direct investment (net) 0 0 0 214 190 27 21 8 3 0 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 1 23 60 69 60 82 47 32 55 99 Memo: technical coop. grants 8 24 21 15 18 20 24 15 13 15 official net resource flows 4 84 59 69 60 82 47 32 55 99 private net resource flows -7 0 0 214 190 27 21 8 3 0 NET TRANSFERS -9 61 58 283 250 109 68 40 58 99 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 69 60 82 47 32 55 99 private net transfers -9 -16 0 214 190 27 21 8 3 0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 343 930 .. 263 321 334 423 424 475 378 Exports of goods, serv. & inc. (XGS) 217 582 .. 26 39 80 147 153 207 147 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 0 0 Imports of goods & services (MGS) 231 575 .. .. .. 292 300 305 269 209 International reserves (RES) .. 5 .. 0 1 0 0 0 3 8 Current account balance .. .. .. .. .. -124 -84 -109 -6 -34 4. DEBT INDICATORS EDT / XGS (%) 74.8 117.9 .. 7,737.2 5,420.0 2,586.9 1,382.2 1,416.1 1,125.1 1,751.4 EDT / GNI (%) 47.4 73.8 .. 765.8 655.2 621.2 479.9 510.7 489.6 679.2 TDS / XGS (%) 10.4 9.2 .. 0.7 2.6 3.2 0.4 0.5 0.5 0.1 INT / XGS (%) 2.8 6.1 .. 0.5 1.1 2.5 0.0 0.2 0.3 0.1 INT / GNI (%) 1.8 3.8 .. 0.1 0.1 0.6 0.0 0.1 0.1 0.1 RES / EDT (%) .. 0.8 .. 0.0 0.0 0.0 0.0 0.0 0.1 0.3 RES / MGS (months) .. 0.1 .. .. .. 0.0 0.0 0.0 0.1 0.5 Short-term / EDT (%) 0.0 11.8 22.2 32.1 33.0 34.0 34.4 40.2 41.1 43.2 Concessional / EDT (%) 67.7 30.8 32.1 29.1 28.5 28.0 27.9 25.7 25.0 23.9 Multilateral / EDT (%) 4.8 19.1 23.4 20.1 19.9 19.2 19.5 17.7 17.5 16.9 317 LIBERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 158 515 1,116 1,061 1,092 1,062 1,040 1,012 1,065 1,127 Public and publicly guaranteed 158 515 1,116 1,061 1,092 1,062 1,040 1,012 1,065 1,127 Official creditors 124 359 924 869 894 858 843 823 869 923 Multilateral 8 131 433 405 418 398 395 383 407 434 Concessional 0 33 184 197 200 198 194 191 197 204 Bilateral 116 229 491 465 475 460 448 440 462 488 Concessional 110 179 410 388 398 384 374 366 385 410 Private creditors 34 156 192 192 199 204 197 189 196 204 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 129 172 173 180 187 180 172 177 184 Other private 34 27 20 19 19 18 17 17 18 20 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 69 143 136 143 125 130 123 137 152 IDA 0 23 105 102 105 103 100 98 102 108 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 0 318 LIBERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 15 16 3 0 0 0 0 Official creditors 18 220 84 15 16 3 0 0 0 0 Private creditors 2 8 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 110 211 594 585 598 582 567 556 582 614 Variable rate LDOD 0 100 123 123 123 123 123 123 123 123 Public sector LDOD 158 514 1,116 1,061 1,092 1,062 1,040 1,012 1,065 1,127 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 12.7 Deutsche mark 12.7 9.2 11.1 9.7 10.1 8.9 8.5 .. .. .. French franc 0.0 0.0 1.1 1.0 1.0 0.9 0.8 .. .. .. Japanese yen 0.0 7.6 6.1 6.6 7.3 8.4 7.7 6.9 7.2 7.6 Pound sterling 0.3 1.5 1.2 1.3 1.2 1.3 1.3 1.3 1.3 1.2 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 53.5 52.2 53.5 54.4 55.7 53.3 50.9 Multiple currency 4.9 17.4 22.7 20.1 20.4 19.3 19.9 19.6 20.3 20.8 Special drawing rights 0.0 0.0 1.5 1.5 1.5 1.5 1.4 1.4 1.5 1.5 All other currencies 0.0 1.7 5.2 6.4 6.3 6.2 6.1 5.3 5.3 5.3 319 LIBERIA (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 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 -95 91 -26 -46 132 161 243 Net flows on debt -7 95 -1 -21 3 1 -5 -5 0 3 Net change in interest arrears .. .. 87 -5 44 12 -3 176 85 149 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 -66 34 -35 -32 -38 73 76 Residual .. .. 15 -2 10 -3 -6 -1 3 14 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 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 21 19 19 16 15 13 12 12 12 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 21 19 19 16 15 13 12 12 12 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 9 8 6 5 5 5 3 Interest 2 2 2 1 1 1 1 1 1 1 Multilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 8 7 7 7 7 7 7 7 7 7 Interest 2 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 0 320 LITHUANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 3,262 3,741 4,528 4,856 5,585 6,671 8,342 Long-term debt (LDOD) .. .. .. 1,962 2,446 3,228 3,550 3,876 4,427 4,793 Public and publicly guaranteed .. .. .. 1,053 1,221 2,123 2,188 2,363 2,481 2,107 Private nonguaranteed .. .. .. 909 1,226 1,106 1,362 1,513 1,946 2,687 Use of IMF credit .. .. .. 270 253 230 192 151 121 45 Short-term debt .. .. .. 1,030 1,042 1,070 1,114 1,558 2,123 3,504 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 .. .. .. 189 99 76 62 64 49 72 TOTAL DEBT FLOWS Disbursements .. .. .. 813 904 1,701 1,120 2,313 4,037 5,942 Long-term debt .. .. .. 757 904 1,701 1,120 2,313 4,037 5,942 IMF purchases .. .. .. 57 0 0 0 0 0 0 Principal repayments .. .. .. 250 695 640 883 1,925 4,048 6,299 Long-term debt .. .. .. 207 667 623 856 1,891 4,008 6,217 IMF repurchases .. .. .. 43 28 17 27 34 40 83 Net flows on debt .. .. .. 1,437 220 1,089 281 832 554 515 of which short-term debt .. .. .. 873 12 28 44 444 565 872 Interest payments (INT) .. .. .. 125 194 221 277 270 331 339 Long-term debt .. .. .. 77 121 150 212 202 237 237 IMF charges .. .. .. 12 12 10 11 8 4 1 Short-term debt .. .. .. 35 61 61 55 60 90 100 Net transfers on debt .. .. .. 1,312 26 868 4 561 223 176 Total debt service paid (TDS) .. .. .. 375 890 861 1,160 2,196 4,379 6,638 Long-term debt .. .. .. 284 788 774 1,068 2,093 4,245 6,454 IMF repurchases and charges .. .. .. 55 40 26 38 42 44 84 Short-term debt (interest only) .. .. .. 35 61 61 55 60 90 100 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 999 1,263 1,657 832 945 862 261 Net flow of long-term debt (ex. IMF) .. .. .. 549 236 1,077 264 422 29 -275 Foreign direct investment (net) .. .. .. 355 926 487 379 446 712 179 Portfolio equity flows .. .. .. 31 11 9 122 -16 6 4 Grants (excluding technical coop.) .. .. .. 64 90 84 67 94 114 353 Memo: technical coop. grants .. .. .. 32 26 30 23 21 22 26 official net resource flows .. .. .. 133 206 163 110 103 91 402 private net resource flows .. .. .. 865 1,058 1,494 722 842 770 -141 NET TRANSFERS .. .. .. 845 994 1,341 497 598 501 -377 Interest on long-term debt .. .. .. 77 121 150 212 202 237 237 Profit remittances on FDI .. .. .. 77 149 166 124 145 124 401 Memo: official net transfers .. .. .. 112 180 131 75 75 56 369 private net transfers .. .. .. 733 813 1,210 422 523 445 -746 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 9,646 10,839 10,582 11,188 11,915 13,882 17,727 Exports of goods, serv. & inc. (XGS) .. .. .. 5,306 5,197 4,355 5,297 6,255 7,719 9,804 Worker remit. & comp. of employees .. .. .. 3 3 3 50 79 109 115 Imports of goods & services (MGS) .. .. .. 6,516 6,728 5,710 6,212 7,083 8,633 11,343 International reserves (RES) .. .. .. 1,064 1,463 1,249 1,363 1,669 2,413 3,450 Current account balance .. .. .. -981 -1,298 -1,194 -675 -574 -721 -1,278 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 61.5 72.0 104.0 91.7 89.3 86.4 85.1 EDT / GNI (%) .. .. .. 33.8 34.5 42.8 43.4 46.9 48.1 47.1 TDS / XGS (%) .. .. .. 7.1 17.1 19.8 21.9 35.1 56.7 67.7 INT / XGS (%) .. .. .. 2.4 3.7 5.1 5.2 4.3 4.3 3.5 INT / GNI (%) .. .. .. 1.3 1.8 2.1 2.5 2.3 2.4 1.9 RES / EDT (%) .. .. .. 32.6 39.1 27.6 28.1 29.9 36.2 41.4 RES / MGS (months) .. .. .. 2.0 2.6 2.6 2.6 2.8 3.4 3.6 Short-term / EDT (%) .. .. .. 31.6 27.9 23.6 22.9 27.9 31.8 42.0 Concessional / EDT (%) .. .. .. 3.6 3.4 2.7 2.3 1.9 1.6 1.3 Multilateral / EDT (%) .. .. .. 7.6 9.2 8.5 8.7 8.1 6.6 5.8 321 LITHUANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 1,962 2,446 3,228 3,550 3,876 4,427 4,793 Public and publicly guaranteed .. .. .. 1,053 1,221 2,123 2,188 2,363 2,481 2,107 Official creditors .. .. .. 450 584 633 651 660 681 780 Multilateral .. .. .. 248 344 384 425 454 443 485 Concessional .. .. .. 0 0 0 0 4 7 11 Bilateral .. .. .. 202 240 249 227 207 239 295 Concessional .. .. .. 118 126 122 113 104 99 94 Private creditors .. .. .. 603 637 1,489 1,537 1,703 1,799 1,327 Bonds .. .. .. 200 200 903 1,130 1,258 1,258 714 Commercial banks .. .. .. 169 204 304 186 255 378 477 Other private .. .. .. 234 233 282 221 190 163 136 Private nonguaranteed .. .. .. 909 1,226 1,106 1,362 1,513 1,946 2,687 Bonds .. .. .. 0 0 0 37 37 39 0 Commercial banks and other .. .. .. 909 1,226 1,106 1,325 1,476 1,907 2,687 Memo: IBRD .. .. .. 114 174 200 253 273 280 280 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 757 904 1,701 1,120 2,313 4,037 5,942 Public and publicly guaranteed .. .. .. 557 208 1,076 457 399 230 193 Official creditors .. .. .. 87 140 112 124 68 113 135 Multilateral .. .. .. 48 96 85 117 67 36 58 Concessional .. .. .. 0 0 0 0 4 3 2 Bilateral .. .. .. 39 45 27 7 1 77 77 Concessional .. .. .. 8 7 1 2 1 0 0 Private creditors .. .. .. 469 68 964 333 331 117 58 Bonds .. .. .. 200 0 745 300 179 0 0 Commercial banks .. .. .. 150 46 119 31 151 117 58 Other private .. .. .. 119 22 100 2 1 0 0 Private nonguaranteed .. .. .. 200 695 625 663 1,914 3,807 5,749 Bonds .. .. .. 0 0 0 37 0 0 0 Commercial banks and other .. .. .. 200 695 625 626 1,914 3,807 5,749 Memo: IBRD .. .. .. 21 60 30 66 40 16 16 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 207 667 623 856 1,891 4,008 6,217 Public and publicly guaranteed .. .. .. 201 65 89 310 178 402 851 Official creditors .. .. .. 18 25 33 81 59 136 86 Multilateral .. .. .. 8 10 10 62 26 84 59 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 10 15 22 19 33 52 27 Concessional .. .. .. 2 3 10 7 7 7 7 Private creditors .. .. .. 182 41 56 229 120 266 765 Bonds .. .. .. 110 0 0 25 0 200 695 Commercial banks .. .. .. 40 12 15 146 78 36 30 Other private .. .. .. 32 29 41 57 42 30 40 Private nonguaranteed .. .. .. 7 602 535 546 1,713 3,606 5,366 Bonds .. .. .. 0 0 0 0 0 0 45 Commercial banks and other .. .. .. 7 602 535 546 1,713 3,606 5,320 Memo: IBRD .. .. .. 3 3 4 9 13 26 36 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 549 236 1,077 264 422 29 -275 Public and publicly guaranteed .. .. .. 356 143 987 147 221 -172 -658 Official creditors .. .. .. 69 116 79 43 9 -23 49 Multilateral .. .. .. 40 86 74 55 41 -48 -1 Concessional .. .. .. 0 0 0 0 4 3 2 Bilateral .. .. .. 29 30 5 -12 -32 25 50 Concessional .. .. .. 6 4 -9 -5 -6 -7 -7 Private creditors .. .. .. 287 27 908 104 211 -149 -707 Bonds .. .. .. 90 0 745 275 179 -200 -695 Commercial banks .. .. .. 110 34 104 -115 73 80 28 Other private .. .. .. 87 -7 59 -56 -41 -30 -40 Private nonguaranteed .. .. .. 193 93 90 117 201 202 383 Bonds .. .. .. 0 0 0 37 0 0 -45 Commercial banks and other .. .. .. 193 93 90 80 201 202 429 Memo: IBRD .. .. .. 18 57 26 57 27 -9 -20 IDA .. .. .. 0 0 0 0 0 0 0 322 LITHUANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 77 121 150 212 202 237 237 Public and publicly guaranteed .. .. .. 44 49 76 136 149 171 173 Official creditors .. .. .. 22 25 32 35 29 35 33 Multilateral .. .. .. 14 17 21 26 22 24 22 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 7 8 10 9 6 11 11 Concessional .. .. .. 2 2 4 4 3 4 4 Private creditors .. .. .. 22 24 44 100 121 136 139 Bonds .. .. .. 8 7 14 63 85 100 99 Commercial banks .. .. .. 4 5 17 20 22 23 30 Other private .. .. .. 10 11 13 18 14 12 10 Private nonguaranteed .. .. .. 33 72 75 76 53 66 64 Bonds .. .. .. 0 0 0 0 3 3 3 Commercial banks and other .. .. .. 33 72 75 76 50 63 62 Memo: IBRD .. .. .. 7 8 11 15 15 14 13 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 472 115 927 52 220 -207 -512 Public and publicly guaranteed .. .. .. 312 94 912 11 72 -343 -831 Official creditors .. .. .. 47 90 47 7 -19 -58 16 Multilateral .. .. .. 26 69 53 29 19 -71 -23 Concessional .. .. .. 0 0 0 0 4 3 1 Bilateral .. .. .. 22 22 -6 -21 -38 14 39 Concessional .. .. .. 4 2 -12 -8 -9 -11 -11 Private creditors .. .. .. 265 4 865 4 91 -285 -847 Bonds .. .. .. 82 -7 731 212 94 -300 -795 Commercial banks .. .. .. 106 29 88 -135 52 57 -2 Other private .. .. .. 77 -18 46 -74 -55 -42 -50 Private nonguaranteed .. .. .. 160 21 15 41 148 136 319 Bonds .. .. .. 0 0 0 37 -3 -3 -48 Commercial banks and other .. .. .. 160 21 15 4 151 138 367 Memo: IBRD .. .. .. 11 49 15 42 12 -24 -33 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 284 788 774 1,068 2,093 4,245 6,454 Public and publicly guaranteed .. .. .. 244 114 164 445 328 573 1,024 Official creditors .. .. .. 40 50 64 116 87 171 119 Multilateral .. .. .. 23 27 32 88 48 108 81 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 17 23 33 28 39 63 38 Concessional .. .. .. 4 6 13 10 10 11 11 Private creditors .. .. .. 205 64 100 329 241 402 905 Bonds .. .. .. 118 7 14 88 85 300 795 Commercial banks .. .. .. 45 17 32 166 99 60 60 Other private .. .. .. 42 40 54 75 56 42 50 Private nonguaranteed .. .. .. 40 674 610 622 1,766 3,672 5,430 Bonds .. .. .. 0 0 0 0 3 3 48 Commercial banks and other .. .. .. 40 674 610 622 1,763 3,669 5,382 Memo: IBRD .. .. .. 10 12 15 24 28 40 49 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 380 352 235 575 316 228 127 Official creditors .. .. .. 296 247 209 249 162 174 127 Private creditors .. .. .. 84 106 26 326 154 54 0 Memorandum items Concessional LDOD .. .. .. 118 126 122 113 107 106 105 Variable rate LDOD .. .. .. 1,412 1,868 1,976 2,099 2,192 2,568 3,215 Public sector LDOD .. .. .. 990 1,130 2,036 2,111 2,295 2,426 2,063 Private sector LDOD .. .. .. 972 1,316 1,193 1,439 1,581 2,001 2,730 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 59.1 69.6 63.2 Deutsche mark .. .. .. 6.0 4.6 2.9 1.6 .. .. .. French franc .. .. .. 0.0 0.0 0.2 0.6 .. .. .. Japanese yen .. .. .. 5.9 5.9 3.6 2.9 1.9 1.7 1.9 Pound sterling .. .. .. 0.0 0.2 0.1 0.1 0.0 0.0 0.0 Swiss franc .. .. .. 0.6 0.2 0.1 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 61.6 58.7 40.7 33.4 28.7 19.6 25.7 Multiple currency .. .. .. 10.6 14.1 9.3 9.1 8.3 7.3 7.2 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 15.4 16.3 43.1 52.4 2.1 1.7 2.1 323 LITHUANIA (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 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 .. .. .. 2,004 479 787 327 730 1,086 1,671 Net flows on debt .. .. .. 1,437 220 1,089 281 832 554 515 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 .. .. .. -53 36 -30 -95 -84 297 398 Residual .. .. .. 621 222 -271 142 -19 235 250 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.3 5.2 7.4 7.6 6.5 3.0 0.0 Maturity (years) .. .. .. 6.0 8.8 5.1 6.8 7.7 14.6 0.0 Grace period (years) .. .. .. 3.7 3.0 3.9 5.5 6.9 3.2 0.0 Grant element (%) .. .. .. 13.2 18.1 8.8 10.1 17.4 37.3 0.0 Official creditors Interest (%) .. .. .. 6.5 4.7 4.6 7.1 5.0 3.0 0.0 Maturity (years) .. .. .. 17.1 13.7 14.8 13.0 17.5 14.6 0.0 Grace period (years) .. .. .. 4.2 4.1 6.0 7.8 5.4 3.2 0.0 Grant element (%) .. .. .. 18.6 26.4 33.4 16.9 30.9 37.3 0.0 Private creditors Interest (%) .. .. .. 6.2 5.7 7.8 7.8 6.6 0.0 0.0 Maturity (years) .. .. .. 5.6 4.2 4.0 5.0 7.0 0.0 0.0 Grace period (years) .. .. .. 3.6 2.0 3.7 4.8 7.0 0.0 0.0 Grant element (%) .. .. .. 13.0 10.6 6.0 8.0 16.4 0.0 0.0 Memorandum items Commitments .. .. .. 458 143 1,005 828 192 83 0 Official creditors .. .. .. 18 68 100 193 13 83 0 Private creditors .. .. .. 440 75 906 636 179 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 46 29 17 11 9 5 3 2 2 1 Principal 935 1,561 601 342 538 229 179 219 140 34 Interest 266 186 113 84 68 38 27 18 9 5 Official creditors Disbursements 46 29 17 11 9 5 3 2 2 1 Principal 121 148 90 62 62 58 44 113 34 34 Interest 33 27 19 16 14 12 10 8 6 5 Bilateral creditors Disbursements 6 2 1 0 0 0 0 0 0 0 Principal 86 83 43 12 11 7 4 5 5 5 Interest 18 11 5 3 2 2 2 2 2 1 Multilateral creditors Disbursements 40 27 16 11 9 5 3 2 2 1 Principal 35 65 48 50 51 51 40 108 29 29 Interest 15 15 14 13 11 10 8 6 4 4 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 814 1,413 511 280 476 171 135 106 106 0 Interest 233 159 94 69 54 26 17 10 3 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 16 425 11 10 9 4 0 0 0 0 Interest 33 17 1 1 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 798 988 499 270 467 167 135 106 106 0 Interest 199 142 93 68 54 26 17 10 3 0 324 MACEDONIA, FYR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,234 1,481 1,430 1,455 1,463 1,663 1,837 Long-term debt (LDOD) .. .. .. 1,008 1,242 1,260 1,319 1,319 1,517 1,713 Public and publicly guaranteed .. .. .. 942 1,054 1,138 1,192 1,145 1,265 1,438 Private nonguaranteed .. .. .. 67 189 122 127 174 252 275 Use of IMF credit .. .. .. 88 102 102 81 71 67 68 Short-term debt .. .. .. 137 136 68 55 73 78 56 of which interest arrears on LDOD .. .. .. 3 3 2 4 10 15 9 Official creditors .. .. .. 0 2 0 2 7 10 1 Private creditors .. .. .. 3 2 2 2 3 5 7 Memo: principal arrears on LDOD .. .. .. 9 6 8 19 28 27 35 Official creditors .. .. .. 3 4 0 0 4 12 8 Private creditors .. .. .. 6 2 8 19 24 15 26 Memo: export credits .. .. .. 224 208 193 198 178 159 146 TOTAL DEBT FLOWS Disbursements .. .. .. 147 264 233 149 149 247 237 Long-term debt .. .. .. 122 252 214 145 149 247 220 IMF purchases .. .. .. 25 12 19 4 0 0 17 Principal repayments .. .. .. 50 93 105 93 136 186 191 Long-term debt .. .. .. 49 91 88 74 128 177 169 IMF repurchases .. .. .. 0 2 17 19 8 9 22 Net flows on debt .. .. .. 146 170 61 41 24 62 29 of which short-term debt .. .. .. 48 -1 -67 -15 11 1 -17 Interest payments (INT) .. .. .. 70 65 53 45 59 52 53 Long-term debt .. .. .. 62 55 45 37 54 49 49 IMF charges .. .. .. 3 3 3 3 2 1 1 Short-term debt .. .. .. 5 7 5 5 3 2 3 Net transfers on debt .. .. .. 76 105 8 -4 -36 10 -24 Total debt service paid (TDS) .. .. .. 120 158 158 138 196 238 244 Long-term debt .. .. .. 111 146 133 111 183 226 218 IMF repurchases and charges .. .. .. 3 5 20 22 10 10 22 Short-term debt (interest only) .. .. .. 5 7 5 5 3 2 3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 128 317 339 420 620 321 283 Net flow of long-term debt (ex. IMF) .. .. .. 73 161 126 71 20 70 51 Foreign direct investment (net) .. .. .. 16 128 33 175 442 78 95 Portfolio equity flows .. .. .. 5 0 0 0 0 0 1 Grants (excluding technical coop.) .. .. .. 34 29 180 174 158 173 137 Memo: technical coop. grants .. .. .. 9 20 26 31 59 70 101 official net resource flows .. .. .. 114 118 289 241 130 207 192 private net resource flows .. .. .. 13 199 50 179 489 113 90 NET TRANSFERS .. .. .. 65 262 292 376 552 248 200 Interest on long-term debt .. .. .. 62 55 45 37 54 49 49 Profit remittances on FDI .. .. .. 0 1 2 7 13 24 34 Memo: official net transfers .. .. .. 54 81 263 221 93 176 158 private net transfers .. .. .. 12 181 29 155 459 71 41 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 3,680 3,526 3,631 3,541 3,396 3,762 4,634 Exports of goods, serv. & inc. (XGS) .. .. .. 1,425 1,528 1,563 1,760 1,521 1,509 1,888 Worker remit. & comp. of employees .. .. .. 78 63 77 81 73 106 171 Imports of goods & services (MGS) .. .. .. 1,934 2,084 1,983 2,366 2,039 2,273 2,632 International reserves (RES) .. .. .. 280 335 460 460 799 790 935 Current account balance .. .. .. -275 -270 -32 -72 -244 -358 -279 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 86.6 96.9 91.4 82.7 96.2 110.2 97.3 EDT / GNI (%) .. .. .. 33.5 42.0 39.4 41.1 43.1 44.2 39.6 TDS / XGS (%) .. .. .. 8.4 10.4 10.1 7.9 12.9 15.8 12.9 INT / XGS (%) .. .. .. 4.9 4.2 3.4 2.6 3.9 3.4 2.8 INT / GNI (%) .. .. .. 1.9 1.8 1.5 1.3 1.8 1.4 1.1 RES / EDT (%) .. .. .. 22.7 22.6 32.1 31.6 54.6 47.5 50.9 RES / MGS (months) .. .. .. 1.7 1.9 2.8 2.3 4.7 4.2 4.3 Short-term / EDT (%) .. .. .. 11.1 9.2 4.7 3.8 5.0 4.7 3.0 Concessional / EDT (%) .. .. .. 16.4 17.4 21.5 23.3 22.9 24.8 27.4 Multilateral / EDT (%) .. .. .. 32.5 31.2 37.1 38.6 37.9 39.6 43.4 325 MACEDONIA, FYR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 1,008 1,242 1,260 1,319 1,319 1,517 1,713 Public and publicly guaranteed .. .. .. 942 1,054 1,138 1,192 1,145 1,265 1,438 Official creditors .. .. .. 706 803 860 908 863 982 1,151 Multilateral .. .. .. 401 462 530 562 554 658 797 Concessional .. .. .. 178 216 269 297 307 378 461 Bilateral .. .. .. 305 341 330 346 308 324 354 Concessional .. .. .. 24 41 39 42 29 34 43 Private creditors .. .. .. 235 250 278 284 283 282 287 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 230 240 269 274 273 275 280 Other private .. .. .. 5 10 10 10 9 7 7 Private nonguaranteed .. .. .. 67 189 122 127 174 252 275 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 67 189 122 127 174 252 275 Memo: IBRD .. .. .. 85 108 110 116 117 138 175 IDA .. .. .. 146 181 223 249 254 293 356 DISBURSEMENTS .. .. .. 122 252 214 145 149 247 220 Public and publicly guaranteed .. .. .. 113 144 173 91 63 140 145 Official creditors .. .. .. 112 139 148 90 63 138 131 Multilateral .. .. .. 106 88 125 79 53 76 87 Concessional .. .. .. 59 30 62 44 16 38 47 Bilateral .. .. .. 7 51 23 11 10 62 43 Concessional .. .. .. 0 20 3 7 3 3 6 Private creditors .. .. .. 0 6 25 1 0 3 15 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 25 0 0 3 15 Other private .. .. .. 0 5 0 1 0 0 0 Private nonguaranteed .. .. .. 10 108 41 54 86 107 74 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 10 108 41 54 86 107 74 Memo: IBRD .. .. .. 19 43 12 13 8 15 26 IDA .. .. .. 29 29 45 38 15 18 33 PRINCIPAL REPAYMENTS .. .. .. 49 91 88 74 128 177 169 Public and publicly guaranteed .. .. .. 33 50 43 25 92 106 88 Official creditors .. .. .. 32 50 40 23 90 103 75 Multilateral .. .. .. 25 25 25 20 49 38 29 Concessional .. .. .. 2 0 0 0 4 0 0 Bilateral .. .. .. 8 25 14 3 41 65 46 Concessional .. .. .. 0 4 1 0 15 2 3 Private creditors .. .. .. 1 1 3 2 2 3 13 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 3 2 1 1 12 Other private .. .. .. 1 0 0 0 1 3 1 Private nonguaranteed .. .. .. 16 41 46 49 37 71 81 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 16 41 46 49 37 71 81 Memo: IBRD .. .. .. 6 4 3 3 4 6 8 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 73 161 126 71 20 70 51 Public and publicly guaranteed .. .. .. 80 94 130 66 -29 34 57 Official creditors .. .. .. 80 89 109 67 -28 34 56 Multilateral .. .. .. 81 63 100 59 4 37 59 Concessional .. .. .. 57 30 62 44 12 38 47 Bilateral .. .. .. -1 26 9 8 -32 -3 -3 Concessional .. .. .. 0 16 2 7 -12 1 3 Private creditors .. .. .. 0 5 22 0 -2 -1 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 22 -2 -1 2 3 Other private .. .. .. -1 5 0 1 -1 -3 -1 Private nonguaranteed .. .. .. -7 67 -5 5 49 36 -7 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. -7 67 -5 5 49 36 -7 Memo: IBRD .. .. .. 13 39 9 10 5 10 18 IDA .. .. .. 29 29 45 38 15 18 33 326 MACEDONIA, FYR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 62 55 45 37 54 49 49 Public and publicly guaranteed .. .. .. 61 48 35 30 48 42 41 Official creditors .. .. .. 61 37 26 20 37 31 34 Multilateral .. .. .. 36 17 18 19 21 19 19 Concessional .. .. .. 1 3 2 4 4 4 5 Bilateral .. .. .. 25 21 8 1 16 12 15 Concessional .. .. .. 1 1 0 0 1 1 1 Private creditors .. .. .. 0 11 10 10 11 11 6 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 10 9 10 10 11 6 Other private .. .. .. 0 0 0 0 1 0 0 Private nonguaranteed .. .. .. 1 7 10 7 7 7 8 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1 7 10 7 7 7 8 Memo: IBRD .. .. .. 6 5 7 7 8 7 7 IDA .. .. .. 1 1 1 2 2 2 2 NET TRANSFERS ON DEBT .. .. .. 11 106 81 34 -34 21 2 Public and publicly guaranteed .. .. .. 19 46 95 36 -77 -8 17 Official creditors .. .. .. 19 52 83 47 -64 3 21 Multilateral .. .. .. 46 46 82 40 -17 19 39 Concessional .. .. .. 56 27 60 40 8 34 42 Bilateral .. .. .. -26 6 1 7 -47 -15 -18 Concessional .. .. .. -1 15 2 6 -13 0 2 Private creditors .. .. .. -1 -6 12 -11 -13 -11 -5 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 -10 13 -12 -11 -9 -4 Other private .. .. .. -1 5 -1 1 -1 -3 -1 Private nonguaranteed .. .. .. -8 59 -14 -2 43 29 -15 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. -8 59 -14 -2 43 29 -15 Memo: IBRD .. .. .. 7 34 1 2 -3 2 11 IDA .. .. .. 28 28 44 37 13 16 31 DEBT SERVICE (LTDS) .. .. .. 111 146 133 111 183 226 218 Public and publicly guaranteed .. .. .. 94 98 78 55 140 148 129 Official creditors .. .. .. 93 87 65 43 127 134 109 Multilateral .. .. .. 60 42 43 39 70 57 48 Concessional .. .. .. 3 3 2 4 8 4 5 Bilateral .. .. .. 33 45 22 4 57 77 61 Concessional .. .. .. 1 5 1 1 16 3 4 Private creditors .. .. .. 1 11 13 12 13 14 19 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 10 12 12 11 11 18 Other private .. .. .. 1 1 1 0 1 3 1 Private nonguaranteed .. .. .. 17 48 55 56 43 78 89 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 17 48 55 56 43 78 89 Memo: IBRD .. .. .. 12 9 10 11 12 13 15 IDA .. .. .. 1 1 1 2 2 2 2 UNDISBURSED DEBT .. .. .. 131 290 305 272 254 226 344 Official creditors .. .. .. 125 280 299 267 248 221 343 Private creditors .. .. .. 5 11 5 5 6 5 1 Memorandum items Concessional LDOD .. .. .. 202 258 308 339 336 412 504 Variable rate LDOD .. .. .. 490 669 610 658 689 807 909 Public sector LDOD .. .. .. 931 1,043 1,131 1,187 1,142 1,261 1,435 Private sector LDOD .. .. .. 77 200 129 132 177 256 278 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 20.3 26.0 31.1 Deutsche mark .. .. .. 14.1 15.7 11.5 8.5 .. .. .. French franc .. .. .. 3.7 3.4 2.6 2.0 .. .. .. Japanese yen .. .. .. 0.4 0.4 0.4 0.4 0.3 0.3 0.1 Pound sterling .. .. .. 0.3 0.2 0.2 0.2 0.2 0.1 0.1 Swiss franc .. .. .. 4.6 3.8 2.8 2.5 2.5 2.2 0.9 U.S.dollars .. .. .. 60.6 67.9 70.6 72.7 74.3 69.0 65.6 Multiple currency .. .. .. 11.0 3.6 2.6 2.1 1.9 1.7 1.5 Special drawing rights .. .. .. 0.0 0.1 0.1 0.3 0.4 0.4 0.5 All other currencies .. .. .. 5.3 4.9 9.3 11.4 0.2 0.2 0.2 327 MACEDONIA, FYR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 229 0 0 44 0 1 0 Debt stock rescheduled .. .. .. 141 0 0 0 0 0 0 Principal rescheduled .. .. .. 39 0 0 29 0 0 0 Official .. .. .. 0 0 0 28 0 0 0 Private .. .. .. 39 0 0 1 0 0 0 Interest rescheduled .. .. .. 76 0 0 15 0 0 0 Official .. .. .. 0 0 0 14 0 0 0 Private .. .. .. 76 0 0 1 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 .. .. .. 129 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 .. .. .. -585 247 -51 26 8 199 174 Net flows on debt .. .. .. 146 170 61 41 24 62 29 Net change in interest arrears .. .. .. -180 0 -1 2 7 4 -6 Interest capitalized .. .. .. 76 0 0 15 0 0 0 Debt forgiveness or reduction .. .. .. -129 0 0 0 0 0 0 Cross-currency valuation .. .. .. -132 -55 -41 -36 -26 72 98 Residual .. .. .. -365 132 -70 3 3 61 54 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 2.8 4.5 3.3 5.5 2.1 3.5 2.2 Maturity (years) .. .. .. 24.1 19.8 22.5 17.8 24.0 18.5 19.6 Grace period (years) .. .. .. 8.2 8.1 6.7 5.8 10.2 7.2 5.9 Grant element (%) .. .. .. 54.0 39.1 49.2 30.4 61.6 44.3 50.4 Official creditors Interest (%) .. .. .. 2.8 4.3 3.4 5.5 2.0 3.4 2.1 Maturity (years) .. .. .. 24.1 20.3 22.9 17.9 24.4 18.5 20.7 Grace period (years) .. .. .. 8.2 8.4 6.7 5.9 10.4 7.2 6.3 Grant element (%) .. .. .. 54.0 40.4 49.4 30.7 62.6 44.6 53.3 Private creditors Interest (%) .. .. .. 0.0 8.1 3.2 9.2 5.8 6.7 3.9 Maturity (years) .. .. .. 0.0 7.7 19.6 3.4 2.1 15.3 4.8 Grace period (years) .. .. .. 0.0 2.9 6.8 0.5 0.2 4.8 0.1 Grant element (%) .. .. .. 0.0 6.6 47.5 1.0 4.7 18.6 12.3 Memorandum items Commitments .. .. .. 140 258 180 132 56 97 207 Official creditors .. .. .. 140 247 160 131 55 96 192 Private creditors .. .. .. 0 10 21 1 1 1 15 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 106 81 55 37 24 14 9 5 2 1 Principal 189 151 139 144 139 156 149 123 115 63 Interest 54 48 43 38 33 27 22 16 13 10 Official creditors Disbursements 106 81 55 37 24 14 9 5 2 1 Principal 89 92 80 81 91 100 103 76 67 62 Interest 36 34 31 28 25 22 18 14 12 10 Bilateral creditors Disbursements 44 43 28 17 10 6 4 1 0 0 Principal 55 55 40 41 41 41 43 19 7 8 Interest 15 13 11 9 8 6 4 2 2 1 Multilateral creditors Disbursements 62 38 28 19 14 8 5 4 1 1 Principal 34 37 40 41 51 59 59 57 60 54 Interest 21 21 20 19 18 16 14 12 10 8 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 100 59 59 62 48 56 46 47 48 2 Interest 18 14 12 10 7 5 4 2 1 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 13 13 27 28 24 36 36 45 45 2 Interest 6 6 5 5 4 3 3 2 1 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 87 46 32 34 23 21 11 2 3 0 Interest 12 9 7 5 3 2 1 0 0 0 328 MADAGASCAR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 485 1,248 3,704 4,109 4,394 4,755 4,701 4,160 4,518 4,958 Long-term debt (LDOD) 485 918 3,335 3,875 4,106 4,369 4,295 3,793 4,137 4,622 Public and publicly guaranteed 485 918 3,335 3,875 4,106 4,369 4,295 3,793 4,137 4,622 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 87 144 69 58 63 104 127 150 172 Short-term debt 0 244 226 165 230 324 301 239 231 164 of which interest arrears on LDOD 0 6 126 154 149 150 204 146 142 143 Official creditors 0 2 116 138 136 136 190 133 129 130 Private creditors 0 4 10 15 14 14 14 13 13 13 Memo: principal arrears on LDOD 0 11 266 600 604 614 666 618 597 605 Official creditors 0 6 245 573 584 589 636 585 560 568 Private creditors 0 5 20 27 20 25 30 33 36 37 Memo: export credits 0 0 795 811 473 427 432 412 637 655 TOTAL DEBT FLOWS Disbursements 54 444 231 336 102 147 200 169 201 232 Long-term debt 54 375 213 318 102 128 150 140 186 216 IMF purchases 0 70 17 19 0 19 50 29 15 16 Principal repayments 45 44 121 118 72 76 79 35 31 38 Long-term debt 45 42 69 100 58 64 74 34 29 34 IMF repurchases 0 2 51 18 14 12 5 1 2 4 Net flows on debt 9 475 194 210 99 165 45 130 166 124 of which short-term debt 0 75 83 -8 69 94 -76 -4 -4 -69 Interest payments (INT) 16 56 102 94 53 83 38 33 34 32 Long-term debt 16 26 85 93 51 76 28 28 29 31 IMF charges 0 1 10 0 0 0 0 1 1 1 Short-term debt 0 29 7 1 2 6 9 4 4 1 Net transfers on debt -7 419 91 116 46 82 7 98 132 92 Total debt service paid (TDS) 61 100 223 212 125 159 117 67 64 70 Long-term debt 61 68 155 193 109 140 102 62 59 65 IMF repurchases and charges 0 3 61 18 14 13 5 1 2 4 Short-term debt (interest only) 0 29 7 1 2 6 9 4 4 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 39 362 514 797 416 304 274 339 285 484 Net flow of long-term debt (ex. IMF) 9 333 144 217 44 65 76 106 157 181 Foreign direct investment (net) 10 -1 22 14 17 58 83 93 8 13 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 20 30 348 566 355 181 115 140 120 290 Memo: technical coop. grants 21 51 84 111 95 93 86 81 88 99 official net resource flows 30 223 507 784 400 246 191 248 277 471 private net resource flows 9 139 7 13 16 58 83 91 8 13 NET TRANSFERS 23 334 428 697 358 218 241 272 219 422 Interest on long-term debt 16 26 85 93 51 76 28 28 29 31 Profit remittances on FDI 0 1 1 7 7 9 4 38 37 32 Memo: official net transfers 14 215 435 692 349 170 163 220 249 443 private net transfers 9 119 -6 5 9 49 78 52 -30 -21 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,109 4,024 2,958 3,454 3,665 3,675 3,807 4,470 4,328 5,394 Exports of goods, serv. & inc. (XGS) .. 519 490 808 854 931 1,210 1,303 736 1,150 Worker remit. & comp. of employees 0 0 8 12 11 12 11 11 17 16 Imports of goods & services (MGS) .. 1,121 985 1,195 1,231 1,262 1,584 1,572 1,101 1,749 International reserves (RES) 37 9 92 282 171 227 285 398 363 414 Current account balance .. -556 -265 -202 -289 -225 -260 -140 -270 -309 4. DEBT INDICATORS EDT / XGS (%) .. 240.6 756.0 508.5 514.6 510.9 388.4 319.3 614.0 431.1 EDT / GNI (%) 43.8 31.0 125.2 119.0 119.9 129.4 123.5 93.1 104.4 91.9 TDS / XGS (%) .. 19.3 45.5 26.2 14.7 17.1 9.6 5.2 8.7 6.1 INT / XGS (%) .. 10.9 20.8 11.6 6.3 8.9 3.1 2.5 4.6 2.8 INT / GNI (%) 1.5 1.4 3.5 2.7 1.5 2.3 1.0 0.7 0.8 0.6 RES / EDT (%) 7.7 0.7 2.5 6.9 3.9 4.8 6.1 9.6 8.0 8.4 RES / MGS (months) .. 0.1 1.1 2.8 1.7 2.2 2.2 3.0 4.0 2.8 Short-term / EDT (%) 0.0 19.5 6.1 4.0 5.2 6.8 6.4 5.7 5.1 3.3 Concessional / EDT (%) 93.1 37.4 46.5 65.2 66.3 61.4 61.2 66.4 67.8 70.6 Multilateral / EDT (%) 8.6 14.6 33.2 40.4 40.5 37.9 38.9 44.5 47.1 50.3 329 MADAGASCAR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 485 918 3,335 3,875 4,106 4,369 4,295 3,793 4,137 4,622 Public and publicly guaranteed 485 918 3,335 3,875 4,106 4,369 4,295 3,793 4,137 4,622 Official creditors 484 572 3,195 3,830 4,065 4,329 4,256 3,721 4,044 4,513 Multilateral 42 182 1,231 1,661 1,781 1,801 1,828 1,851 2,129 2,496 Concessional 10 148 1,075 1,560 1,692 1,732 1,765 1,793 2,068 2,429 Bilateral 443 390 1,964 2,169 2,284 2,527 2,429 1,870 1,915 2,018 Concessional 442 319 648 1,121 1,221 1,185 1,109 970 997 1,073 Private creditors 1 346 140 45 41 40 39 73 93 109 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 134 38 24 24 23 23 56 77 92 Other private 1 212 102 21 17 17 17 16 17 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 3 1 0 0 0 0 0 IDA 10 122 770 1,212 1,317 1,361 1,378 1,409 1,652 1,975 DISBURSEMENTS 54 375 213 318 102 128 150 140 186 216 Public and publicly guaranteed 54 375 213 318 102 128 150 140 186 216 Official creditors 54 212 212 317 102 128 150 140 186 216 Multilateral 6 42 136 210 98 120 143 138 185 215 Concessional 5 38 120 208 98 118 134 131 181 212 Bilateral 48 170 77 107 5 8 7 2 1 0 Concessional 48 115 77 6 5 7 5 1 1 0 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 64 130 77 84 94 97 163 195 PRINCIPAL REPAYMENTS 45 42 69 100 58 64 74 34 29 34 Public and publicly guaranteed 45 42 69 100 58 64 74 34 29 34 Official creditors 45 19 53 99 57 63 73 32 29 34 Multilateral 3 1 19 65 36 36 37 20 17 21 Concessional 0 0 9 25 20 23 25 15 12 15 Bilateral 41 18 34 34 21 27 36 12 12 13 Concessional 41 17 9 30 20 17 34 10 12 13 Private creditors 1 23 16 2 1 1 0 2 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 12 11 0 0 0 0 2 0 0 Other private 1 12 6 1 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 3 4 1 1 0 0 0 0 IDA 0 0 3 10 12 15 17 10 6 9 NET FLOWS ON DEBT 9 333 144 217 44 65 76 106 157 181 Public and publicly guaranteed 9 333 144 217 44 65 76 106 157 181 Official creditors 10 193 159 219 45 65 77 108 157 182 Multilateral 3 41 117 145 61 84 106 118 169 194 Concessional 5 38 111 183 78 95 109 116 169 197 Bilateral 7 152 42 73 -16 -19 -30 -10 -12 -13 Concessional 7 97 68 -24 -15 -11 -29 -9 -11 -12 Private creditors -1 140 -15 -1 -1 -1 0 -2 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 50 -10 0 0 0 0 -2 0 0 Other private -1 89 -5 -1 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 1 -3 -4 -1 -1 0 0 0 0 IDA 5 25 61 120 65 69 77 87 157 186 330 MADAGASCAR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 16 26 85 93 51 76 28 28 29 31 Public and publicly guaranteed 16 26 85 93 51 76 28 28 29 31 Official creditors 16 8 72 93 51 76 28 28 28 29 Multilateral 1 4 18 42 19 17 17 13 16 16 Concessional 0 1 7 16 14 13 14 11 14 15 Bilateral 15 4 54 51 32 60 11 15 12 12 Concessional 15 3 11 26 22 21 4 4 4 4 Private creditors 0 19 13 0 0 0 0 1 1 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 10 0 0 0 0 1 1 2 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 0 0 0 0 0 0 0 IDA 0 1 5 9 9 10 10 9 10 12 NET TRANSFERS ON DEBT -7 306 59 124 -7 -12 48 78 127 151 Public and publicly guaranteed -7 306 59 124 -7 -12 48 78 127 151 Official creditors -7 185 87 126 -6 -11 48 81 129 153 Multilateral 2 37 99 103 42 67 89 105 153 178 Concessional 5 37 104 167 64 83 95 105 154 181 Bilateral -9 148 -12 23 -48 -78 -41 -25 -24 -25 Concessional -9 94 57 -50 -37 -32 -33 -13 -15 -17 Private creditors -1 121 -28 -2 -1 -1 -1 -3 -1 -2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 42 -21 -1 0 -1 0 -3 -1 -2 Other private -1 79 -8 -1 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 -1 -5 -4 -2 -1 0 0 0 0 IDA 5 24 55 111 55 59 67 78 148 174 DEBT SERVICE (LTDS) 61 68 155 193 109 140 102 62 59 65 Public and publicly guaranteed 61 68 155 193 109 140 102 62 59 65 Official creditors 61 27 125 191 108 139 102 59 57 63 Multilateral 4 4 37 107 55 53 54 33 32 37 Concessional 0 1 16 41 33 36 39 26 26 31 Bilateral 56 22 89 84 53 87 48 27 25 26 Concessional 56 20 20 56 42 39 38 14 16 17 Private creditors 1 42 29 2 1 1 1 3 1 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 20 21 1 0 1 0 3 1 2 Other private 1 22 9 1 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 3 5 4 2 1 0 0 0 0 IDA 0 1 8 18 21 25 27 19 16 20 UNDISBURSED DEBT 186 713 889 497 577 555 574 677 682 787 Official creditors 177 472 888 497 577 555 574 677 682 787 Private creditors 10 241 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 452 467 1,723 2,681 2,913 2,918 2,875 2,763 3,065 3,503 Variable rate LDOD 0 74 337 240 235 217 214 190 180 172 Public sector LDOD 483 904 3,259 3,745 3,951 4,232 4,173 3,692 4,029 4,505 Private sector LDOD 2 14 76 130 156 137 122 101 108 117 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 14.3 14.8 15.3 Deutsche mark 2.3 5.0 3.3 1.8 1.8 1.5 1.4 .. .. .. French franc 88.3 12.5 15.7 13.4 13.8 10.9 10.0 .. .. .. Japanese yen 0.0 7.3 7.3 7.5 8.2 8.4 7.6 7.1 6.9 6.7 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 0.9 0.9 0.9 0.9 0.9 U.S.dollars 9.1 53.6 42.3 49.1 49.0 55.0 56.7 56.6 58.0 58.8 Multiple currency 0.3 4.0 8.6 9.1 8.8 8.1 7.7 8.2 7.9 7.5 Special drawing rights 0.0 0.0 3.2 2.7 2.8 2.1 2.1 2.4 2.4 2.3 All other currencies 0.0 16.8 18.1 15.2 14.5 13.0 13.5 10.5 9.0 8.3 331 MADAGASCAR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 88 972 46 41 0 36 20 15 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 65 578 29 27 0 12 9 6 Official .. .. 49 551 29 27 0 12 9 6 Private .. .. 16 28 0 0 0 0 0 0 Interest rescheduled .. .. 16 251 13 12 0 24 11 11 Official .. .. 14 245 13 12 0 24 11 11 Private .. .. 2 6 0 0 0 0 0 0 Debt forgiven .. .. 185 48 6 3 0 82 80 51 Memo: interest forgiven .. .. 0 17 1 1 0 69 38 35 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 -37 285 361 -54 -541 358 441 Net flows on debt 9 475 194 210 99 165 45 130 166 124 Net change in interest arrears .. .. 19 -348 -4 0 54 -58 -4 2 Interest capitalized .. .. 16 251 13 12 0 24 11 11 Debt forgiveness or reduction .. .. -185 -48 -6 -3 0 -82 -80 -51 Cross-currency valuation .. .. 182 -332 -67 -159 -162 -150 244 318 Residual .. .. 48 230 250 347 8 -405 20 36 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.3 5.7 1.1 2.7 0.9 0.8 0.8 0.8 0.8 0.8 Maturity (years) 39.0 18.2 36.2 36.2 35.9 40.4 40.1 40.4 40.6 41.3 Grace period (years) 9.2 4.6 9.7 9.3 9.0 9.9 10.2 10.9 10.2 10.4 Grant element (%) 65.4 27.5 74.9 62.6 74.8 79.6 80.6 81.0 80.7 81.1 Official creditors Interest (%) 1.4 3.7 1.1 2.7 0.9 0.8 0.8 0.8 0.8 0.8 Maturity (years) 44.6 28.1 36.4 36.2 35.9 40.4 40.1 40.4 40.6 41.3 Grace period (years) 10.4 6.1 9.7 9.3 9.0 9.9 10.2 10.9 10.2 10.4 Grant element (%) 75.3 46.5 75.2 62.6 74.8 79.6 80.6 81.0 80.7 81.1 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 22 467 211 338 180 176 187 260 143 257 Official creditors 19 215 210 338 180 176 187 260 143 257 Private creditors 4 252 1 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 100 126 121 116 105 76 56 34 23 15 Principal 98 89 93 99 110 118 120 128 133 134 Interest 78 77 75 74 72 70 68 65 63 60 Official creditors Disbursements 100 126 121 116 105 76 56 34 23 15 Principal 98 89 93 99 107 113 116 124 128 130 Interest 76 75 73 72 70 68 66 64 61 59 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 45 39 39 40 41 41 41 41 42 41 Interest 55 53 52 50 48 46 44 43 41 39 Multilateral creditors Disbursements 99 126 121 116 105 76 56 34 23 15 Principal 53 51 54 59 66 72 75 83 87 88 Interest 21 21 22 22 22 22 21 21 20 20 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 0 0 0 2 4 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 2 4 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 0 332 MALAWI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 135 830 1,558 2,228 2,444 2,751 2,716 2,604 2,913 3,134 Long-term debt (LDOD) 135 634 1,385 2,099 2,310 2,596 2,555 2,483 2,689 2,960 Public and publicly guaranteed 135 634 1,382 2,099 2,310 2,596 2,555 2,483 2,689 2,960 Private nonguaranteed 0 0 2 0 0 0 0 0 0 0 Use of IMF credit 0 80 115 106 102 88 83 73 95 102 Short-term debt 0 116 58 23 32 67 78 48 130 72 of which interest arrears on LDOD 0 3 6 3 14 24 37 27 37 46 Official creditors 0 1 4 2 12 22 34 27 37 45 Private creditors 0 1 2 1 2 2 2 1 1 1 Memo: principal arrears on LDOD 0 1 19 17 38 48 72 40 54 72 Official creditors 0 1 12 8 27 36 60 35 49 67 Private creditors 0 0 7 8 11 12 12 5 5 5 Memo: export credits 0 0 94 53 23 14 11 6 4 8 TOTAL DEBT FLOWS Disbursements 54 190 161 178 173 152 126 116 94 88 Long-term debt 53 153 136 167 156 141 117 116 72 79 IMF purchases 1 37 25 11 17 10 8 0 22 9 Principal repayments 3 34 86 55 60 50 38 25 14 19 Long-term debt 3 33 67 38 34 27 29 21 7 11 IMF repurchases 0 1 19 17 25 22 9 4 7 8 Net flows on debt 51 154 88 48 112 127 86 70 151 3 of which short-term debt 0 -1 13 -75 -2 25 -2 -21 72 -66 Interest payments (INT) 4 53 47 30 24 19 20 14 16 17 Long-term debt 4 35 36 26 22 17 17 12 14 15 IMF charges 0 2 6 1 1 1 0 0 0 1 Short-term debt 0 16 4 3 1 2 3 1 1 1 Net transfers on debt 48 101 41 18 87 108 65 57 136 -14 Total debt service paid (TDS) 6 87 133 85 84 69 59 39 30 35 Long-term debt 6 68 103 64 56 44 46 34 21 26 IMF repurchases and charges 0 3 25 18 26 23 9 4 8 8 Short-term debt (interest only) 0 16 4 3 1 2 3 1 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 65 178 320 263 347 427 342 326 279 394 Net flow of long-term debt (ex. IMF) 50 120 69 129 121 114 88 95 65 68 Foreign direct investment (net) 9 10 23 15 12 59 26 19 6 23 Portfolio equity flows 0 0 1 0 0 0 0 0 0 0 Grants (excluding technical coop.) 7 48 227 118 214 255 228 212 208 303 Memo: technical coop. grants 9 36 110 92 80 81 111 85 104 125 official net resource flows 55 148 294 249 336 368 316 307 273 371 private net resource flows 10 30 26 13 11 59 26 19 6 23 NET TRANSFERS 62 134 278 223 311 391 309 300 242 364 Interest on long-term debt 4 35 36 26 22 17 17 12 14 15 Profit remittances on FDI 0 9 5 14 14 19 15 14 23 15 Memo: official net transfers 53 139 264 224 314 352 298 295 259 356 private net transfers 9 -4 15 -1 -3 40 11 5 -17 8 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 283 1,138 1,837 2,492 1,695 1,768 1,668 1,672 1,843 1,670 Exports of goods, serv. & inc. (XGS) .. 315 452 592 583 524 471 484 479 462 Worker remit. & comp. of employees 0 0 0 1 1 1 1 1 1 1 Imports of goods & services (MGS) .. 638 638 959 710 810 680 686 840 685 International reserves (RES) 29 76 142 166 273 254 250 210 170 132 Current account balance .. -260 -86 -276 -4 -158 -73 -60 -201 -203 4. DEBT INDICATORS EDT / XGS (%) .. 263.7 344.4 376.5 419.0 525.0 576.2 537.5 608.5 677.9 EDT / GNI (%) 47.7 72.9 84.8 89.4 144.2 155.5 162.8 155.8 158.1 187.7 TDS / XGS (%) .. 27.8 29.3 14.4 14.4 13.1 12.4 8.0 6.3 7.7 INT / XGS (%) .. 16.8 10.3 5.1 4.2 3.6 4.3 2.8 3.3 3.7 INT / GNI (%) 1.2 4.7 2.5 1.2 1.4 1.1 1.2 0.8 0.9 1.0 RES / EDT (%) 21.6 9.2 9.1 7.4 11.2 9.2 9.2 8.1 5.8 4.2 RES / MGS (months) .. 1.4 2.7 2.1 4.6 3.8 4.4 3.7 2.4 2.3 Short-term / EDT (%) 0.0 14.0 3.7 1.1 1.3 2.5 2.9 1.9 4.5 2.3 Concessional / EDT (%) 58.0 31.1 67.5 88.5 89.3 90.0 90.3 92.4 89.5 91.3 Multilateral / EDT (%) 12.5 26.4 69.8 80.8 81.4 74.8 75.4 79.2 77.7 80.6 333 MALAWI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 135 634 1,385 2,099 2,310 2,596 2,555 2,483 2,689 2,960 Public and publicly guaranteed 135 634 1,382 2,099 2,310 2,596 2,555 2,483 2,689 2,960 Official creditors 116 442 1,305 2,079 2,290 2,577 2,537 2,474 2,679 2,950 Multilateral 17 219 1,088 1,800 1,990 2,057 2,048 2,061 2,263 2,527 Concessional 17 147 902 1,709 1,900 1,972 1,977 2,001 2,198 2,444 Bilateral 99 223 217 279 299 520 490 413 416 422 Concessional 61 111 149 264 284 503 475 405 410 416 Private creditors 20 192 78 20 20 19 18 10 10 11 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 20 20 19 18 10 10 11 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 34 25 17 9 4 2 1 IDA 17 131 764 1,375 1,542 1,586 1,592 1,624 1,770 1,958 DISBURSEMENTS 53 153 136 167 156 141 117 116 72 79 Public and publicly guaranteed 53 153 136 167 156 141 117 116 72 79 Official creditors 50 105 128 166 156 141 117 116 72 79 Multilateral 10 49 118 146 156 141 117 116 72 79 Concessional 10 28 109 142 147 128 115 116 72 79 Bilateral 40 56 10 20 0 0 0 0 0 0 Concessional 19 18 10 20 0 0 0 0 0 0 Private creditors 3 48 7 1 0 1 0 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 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 8 2 0 0 0 0 0 0 0 IDA 10 15 99 107 130 88 97 108 51 56 PRINCIPAL REPAYMENTS 3 33 67 38 34 27 29 21 7 11 Public and publicly guaranteed 3 33 65 38 34 27 29 21 7 11 Official creditors 2 5 61 35 33 27 29 21 7 11 Multilateral 0 1 20 25 29 27 29 14 7 11 Concessional 0 1 3 11 15 15 18 9 5 9 Bilateral 2 4 41 11 4 0 0 7 0 0 Concessional 1 1 4 9 4 0 0 7 0 0 Private creditors 1 28 4 3 1 0 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 3 1 0 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 6 10 8 8 4 2 2 IDA 0 1 3 9 11 14 16 9 5 9 NET FLOWS ON DEBT 50 120 69 129 121 114 88 95 65 68 Public and publicly guaranteed 50 120 70 129 121 114 88 95 65 68 Official creditors 48 100 67 131 122 113 88 95 65 68 Multilateral 10 48 98 122 126 114 88 102 65 68 Concessional 10 27 106 130 131 112 97 107 66 70 Bilateral 39 52 -31 9 -4 0 0 -7 0 0 Concessional 18 17 6 11 -4 0 0 -7 0 0 Private creditors 2 20 3 -1 -1 0 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 -1 -1 0 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 -6 -10 -8 -8 -4 -2 -2 IDA 10 14 96 98 120 75 81 99 46 47 334 MALAWI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 4 35 36 26 22 17 17 12 14 15 Public and publicly guaranteed 4 35 36 26 22 17 17 12 14 15 Official creditors 2 10 30 25 22 17 17 12 14 15 Multilateral 0 3 19 17 19 17 17 11 13 14 Concessional 0 1 6 12 13 13 14 11 12 14 Bilateral 2 7 12 8 3 0 0 1 1 1 Concessional 1 3 3 6 3 0 0 1 1 1 Private creditors 1 25 6 1 0 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 1 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 8 2 3 2 1 0 0 0 IDA 0 1 5 9 10 11 12 10 10 11 NET TRANSFERS ON DEBT 47 85 33 103 99 97 71 83 51 53 Public and publicly guaranteed 47 85 34 103 99 97 71 83 51 53 Official creditors 46 90 37 106 100 97 71 83 51 53 Multilateral 10 45 79 104 107 97 71 91 52 54 Concessional 10 26 100 118 118 99 82 97 54 57 Bilateral 37 45 -42 2 -7 0 0 -8 -1 -1 Concessional 18 14 3 5 -6 0 0 -8 -1 -1 Private creditors 0 -5 -3 -3 -1 0 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 -3 -1 0 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 -8 -13 -10 -9 -5 -2 -2 IDA 10 13 91 89 109 63 70 88 35 36 DEBT SERVICE (LTDS) 6 68 103 64 56 44 46 34 21 26 Public and publicly guaranteed 6 68 101 64 56 44 46 34 21 26 Official creditors 4 15 91 60 55 44 46 34 21 26 Multilateral 0 5 39 42 49 44 46 26 20 25 Concessional 0 2 9 23 29 28 32 20 18 23 Bilateral 4 11 53 18 7 0 0 8 1 1 Concessional 1 4 7 15 6 0 0 8 1 1 Private creditors 3 53 10 4 1 0 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 4 1 0 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 8 13 10 9 5 2 2 IDA 0 2 8 18 21 25 27 19 16 20 UNDISBURSED DEBT 39 162 574 478 557 478 369 307 321 331 Official creditors 39 152 562 472 551 472 369 307 321 331 Private creditors 0 10 12 6 6 5 0 0 0 0 Memorandum items Concessional LDOD 78 258 1,051 1,973 2,184 2,475 2,452 2,407 2,607 2,860 Variable rate LDOD 0 145 50 7 6 6 5 4 3 3 Public sector LDOD 135 585 1,372 2,096 2,307 2,593 2,553 2,481 2,686 2,957 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 2.0 Deutsche mark 4.1 2.5 0.7 0.2 0.2 0.2 0.2 .. .. .. French franc 0.0 1.2 2.0 0.8 0.8 0.6 0.6 .. .. .. Japanese yen 0.0 4.1 9.3 9.1 9.2 9.3 8.4 5.9 5.4 4.9 Pound sterling 56.2 17.4 16.7 8.0 7.4 6.4 6.1 5.8 5.4 5.1 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 60.0 61.6 64.4 65.9 69.3 69.4 69.3 Multiple currency 0.0 12.4 21.9 18.5 17.6 15.5 15.0 14.7 14.8 15.1 Special drawing rights 0.0 0.0 0.0 0.9 0.9 1.0 1.1 1.1 1.0 1.0 All other currencies 26.7 15.9 2.5 2.2 2.2 2.6 2.8 1.4 1.9 2.5 335 MALAWI (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 6 2 2 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 6 2 2 Official .. .. 0 0 0 0 0 5 2 2 Private .. .. 0 0 0 0 0 1 0 0 Interest rescheduled .. .. 0 0 0 0 0 2 0 0 Official .. .. 0 0 0 0 0 2 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 51 0 0 0 0 72 39 42 Memo: interest forgiven .. .. 0 0 0 0 0 23 7 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 -87 216 307 -34 -112 309 221 Net flows on debt 51 154 88 48 112 127 86 70 151 3 Net change in interest arrears .. .. -2 -1 10 10 13 -9 10 8 Interest capitalized .. .. 0 0 0 0 0 2 0 0 Debt forgiveness or reduction .. .. -51 0 0 0 0 -72 -39 -42 Cross-currency valuation .. .. 22 -231 -50 -21 -111 -96 140 167 Residual .. .. 91 98 144 190 -22 -8 47 84 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.8 6.0 1.3 1.0 0.8 0.8 0.8 0.8 0.8 0.8 Maturity (years) 29.4 23.6 37.7 46.8 39.7 47.8 44.7 41.2 45.1 41.3 Grace period (years) 6.0 5.9 9.2 10.3 10.2 10.6 10.1 11.7 9.9 10.3 Grant element (%) 47.1 32.4 74.2 79.8 80.5 82.9 81.8 81.6 80.7 81.0 Official creditors Interest (%) 3.1 4.0 1.1 0.7 0.8 0.8 0.8 0.8 0.8 0.8 Maturity (years) 35.3 28.6 38.3 49.3 39.7 47.8 44.7 41.2 45.1 41.3 Grace period (years) 7.6 6.9 9.4 11.0 10.2 10.6 10.1 11.7 9.9 10.3 Grant element (%) 56.9 44.9 75.6 83.9 80.5 82.9 81.8 81.6 80.7 81.0 Private creditors Interest (%) 6.5 13.2 8.6 5.5 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 8.4 5.7 11.8 10.5 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.3 2.6 3.5 1.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 12.0 -12.3 6.2 17.5 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 14 130 259 80 214 102 59 86 75 66 Official creditors 11 102 253 75 214 102 59 86 75 66 Private creditors 3 28 5 5 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 77 72 57 44 33 21 13 7 4 2 Principal 77 91 95 97 89 95 98 100 99 107 Interest 31 30 29 28 26 25 24 23 22 21 Official creditors Disbursements 77 72 57 44 33 21 13 7 4 2 Principal 76 91 95 96 89 94 97 100 99 106 Interest 31 30 29 27 26 25 24 23 22 21 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 25 38 37 36 26 23 23 23 22 22 Interest 11 10 9 8 7 6 6 5 4 4 Multilateral creditors Disbursements 77 72 57 44 33 21 13 7 4 2 Principal 51 52 58 60 63 71 74 77 77 84 Interest 20 20 20 20 19 19 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 0 336 MALAYSIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 502 6,611 15,328 47,228 42,409 41,903 41,941 44,612 48,833 49,074 Long-term debt (LDOD) 440 5,256 13,422 32,289 33,940 35,892 37,300 38,321 40,464 40,249 Public and publicly guaranteed 390 4,007 11,592 16,807 18,155 18,930 19,234 24,140 26,476 25,517 Private nonguaranteed 50 1,248 1,830 15,482 15,786 16,961 18,067 14,181 13,988 14,732 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt 62 1,355 1,906 14,939 8,469 6,012 4,640 6,291 8,369 8,825 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 3,289 1,393 1,292 1,196 1,500 2,108 2,423 TOTAL DEBT FLOWS Disbursements 58 1,456 1,683 8,803 6,724 4,621 5,921 7,110 7,766 5,603 Long-term debt 58 1,456 1,683 8,803 6,724 4,621 5,921 7,110 7,766 5,603 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 57 345 3,167 4,276 3,806 2,853 4,146 4,088 5,868 7,304 Long-term debt 57 345 3,167 4,276 3,806 2,853 4,146 4,088 5,868 7,304 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 1 1,592 -1,851 8,397 -3,552 -689 404 4,672 3,976 -1,245 of which short-term debt 0 481 -367 3,871 -6,470 -2,457 -1,372 1,650 2,078 456 Interest payments (INT) 25 589 1,166 2,833 2,268 1,922 2,299 2,140 1,965 2,183 Long-term debt 25 338 997 1,588 1,612 1,603 2,033 1,946 1,731 1,908 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 251 169 1,245 656 319 266 195 235 275 Net transfers on debt -24 1,003 -3,017 5,565 -5,820 -2,611 -1,895 2,532 2,011 -3,428 Total debt service paid (TDS) 82 934 4,333 7,109 6,074 4,775 6,445 6,229 7,833 9,487 Long-term debt 82 683 4,164 5,864 5,418 4,456 6,179 6,034 7,599 9,212 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 251 169 1,245 656 319 266 195 235 275 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 99 2,052 890 1,627 4,706 5,813 3,730 2,911 5,057 2,126 Net flow of long-term debt (ex. IMF) 1 1,111 -1,484 4,527 2,918 1,768 1,775 3,022 1,898 -1,701 Foreign direct investment (net) 94 934 2,333 5,137 2,163 3,895 3,788 554 3,203 2,473 Portfolio equity flows 0 0 0 -8,049 -397 137 -1,841 -673 -55 1,340 Grants (excluding technical coop.) 4 6 42 13 21 13 9 8 12 14 Memo: technical coop. grants 13 54 125 86 80 89 82 68 67 62 official net resource flows 27 139 414 -156 243 608 614 2,079 -192 -82 private net resource flows 71 1,913 476 1,783 4,463 5,205 3,116 832 5,250 2,207 NET TRANSFERS 73 524 -2,033 -5,036 298 -1,192 -5,475 -4,968 -2,794 -6,517 Interest on long-term debt 25 338 997 1,588 1,612 1,603 2,033 1,946 1,731 1,908 Profit remittances on FDI 0 1,190 1,926 5,075 2,796 5,402 7,173 5,933 6,121 6,735 Memo: official net transfers 14 53 182 -358 36 363 356 1,812 -459 -305 private net transfers 60 471 -2,214 -4,678 262 -1,555 -5,831 -6,780 -2,335 -6,212 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 4,167 24,057 42,152 94,803 68,271 73,540 82,712 81,258 88,569 97,809 Exports of goods, serv. & inc. (XGS) .. 14,836 34,514 95,750 84,942 98,019 114,356 104,282 110,400 122,025 Worker remit. & comp. of employees 0 41 325 1,074 856 1,042 981 792 959 987 Imports of goods & services (MGS) .. 15,100 35,486 100,176 72,950 83,687 103,944 94,844 100,430 106,197 International reserves (RES) 667 5,755 10,659 21,470 26,236 30,931 29,844 30,798 34,623 45,003 Current account balance .. -266 -870 -5,935 9,529 12,604 8,488 7,287 7,190 13,381 4. DEBT INDICATORS EDT / XGS (%) .. 44.6 44.4 49.3 49.9 42.8 36.7 42.8 44.2 40.2 EDT / GNI (%) 12.0 27.5 36.4 49.8 62.1 57.0 50.7 54.9 55.1 50.2 TDS / XGS (%) .. 6.3 12.6 7.4 7.2 4.9 5.6 6.0 7.1 7.8 INT / XGS (%) .. 4.0 3.4 3.0 2.7 2.0 2.0 2.1 1.8 1.8 INT / GNI (%) 0.6 2.4 2.8 3.0 3.3 2.6 2.8 2.6 2.2 2.2 RES / EDT (%) 133.0 87.1 69.5 45.5 61.9 73.8 71.2 69.0 70.9 91.7 RES / MGS (months) .. 4.6 3.6 2.6 4.3 4.4 3.4 3.9 4.1 5.1 Short-term / EDT (%) 12.4 20.5 12.4 31.6 20.0 14.3 11.1 14.1 17.1 18.0 Concessional / EDT (%) 18.8 8.6 14.6 4.3 5.5 6.5 7.0 7.1 6.5 7.1 Multilateral / EDT (%) 28.2 11.3 11.8 2.6 3.5 3.4 3.1 2.7 2.3 2.2 337 MALAYSIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 440 5,256 13,422 32,289 33,940 35,892 37,300 38,321 40,464 40,249 Public and publicly guaranteed 390 4,007 11,592 16,807 18,155 18,930 19,234 24,140 26,476 25,517 Official creditors 265 1,444 4,191 3,983 4,508 4,825 4,950 5,861 5,782 6,110 Multilateral 141 745 1,812 1,228 1,487 1,438 1,314 1,219 1,145 1,099 Concessional 0 3 9 0 0 0 0 0 0 0 Bilateral 124 699 2,378 2,755 3,021 3,387 3,637 4,641 4,637 5,011 Concessional 94 565 2,225 2,033 2,333 2,735 2,939 3,159 3,194 3,462 Private creditors 125 2,564 7,401 12,824 13,647 14,105 14,284 18,279 20,694 19,407 Bonds 111 278 4,090 8,265 8,338 9,255 9,945 10,804 13,464 13,698 Commercial banks 0 1,397 2,285 3,118 3,346 2,866 2,292 5,573 4,752 3,402 Other private 14 889 1,026 1,440 1,963 1,984 2,046 1,902 2,478 2,307 Private nonguaranteed 50 1,248 1,830 15,482 15,786 16,961 18,067 14,181 13,988 14,732 Bonds 0 0 0 3,752 3,785 3,841 3,402 3,825 3,260 4,157 Commercial banks and other 50 1,248 1,830 11,730 12,001 13,120 14,665 10,356 10,729 10,575 Memo: IBRD 141 504 1,102 758 970 900 812 788 719 708 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 58 1,456 1,683 8,803 6,724 4,621 5,921 7,110 7,766 5,603 Public and publicly guaranteed 45 1,015 798 3,566 1,624 2,482 3,460 5,520 6,266 2,269 Official creditors 39 211 737 662 600 1,372 1,446 2,901 1,207 833 Multilateral 22 118 273 137 386 71 61 71 63 89 Concessional 0 0 2 0 0 0 0 0 0 0 Bilateral 17 93 464 524 214 1,300 1,385 2,830 1,144 744 Concessional 16 78 460 271 214 700 1,141 2,084 435 248 Private creditors 6 804 61 2,904 1,024 1,110 2,015 2,619 5,059 1,436 Bonds 0 0 0 746 0 1,010 1,061 1,700 3,838 0 Commercial banks 0 510 57 900 456 48 672 820 597 1,436 Other private 6 294 4 1,259 568 53 282 99 623 0 Private nonguaranteed 12 441 885 5,237 5,100 2,139 2,461 1,590 1,500 3,334 Bonds 0 0 0 1,844 0 0 361 550 0 906 Commercial banks and other 12 441 885 3,393 5,100 2,139 2,100 1,040 1,500 2,427 Memo: IBRD 21 80 205 51 325 42 15 60 56 87 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 57 345 3,167 4,276 3,806 2,853 4,146 4,088 5,868 7,304 Public and publicly guaranteed 47 127 2,697 1,867 1,135 1,559 2,017 2,457 4,192 4,278 Official creditors 16 79 365 830 378 777 840 830 1,411 929 Multilateral 5 34 216 191 179 156 139 120 165 159 Concessional 0 0 2 0 0 0 0 0 0 0 Bilateral 11 45 149 639 199 620 701 710 1,246 770 Concessional 4 17 123 535 164 585 666 679 403 239 Private creditors 32 48 2,332 1,037 757 783 1,176 1,628 2,781 3,349 Bonds 30 11 1,239 86 299 263 200 676 1,327 0 Commercial banks 0 17 664 779 339 401 864 840 1,311 3,061 Other private 2 20 428 172 119 118 112 112 143 288 Private nonguaranteed 9 218 470 2,409 2,671 1,294 2,129 1,631 1,676 3,026 Bonds 0 0 0 0 15 0 745 110 549 65 Commercial banks and other 9 218 470 2,409 2,656 1,294 1,384 1,521 1,127 2,961 Memo: IBRD 5 26 164 126 117 111 100 83 126 98 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 1 1,111 -1,484 4,527 2,918 1,768 1,775 3,022 1,898 -1,701 Public and publicly guaranteed -2 889 -1,899 1,699 489 923 1,444 3,063 2,074 -2,009 Official creditors 23 132 372 -168 222 595 606 2,071 -204 -96 Multilateral 17 85 57 -53 207 -85 -79 -49 -103 -71 Concessional 0 0 0 0 0 0 0 0 0 0 Bilateral 6 48 315 -115 15 680 684 2,121 -101 -25 Concessional 12 61 337 -263 50 115 475 1,405 32 8 Private creditors -25 756 -2,271 1,868 267 328 838 991 2,278 -1,913 Bonds -30 -11 -1,239 659 -299 747 861 1,024 2,511 0 Commercial banks 0 493 -607 121 117 -353 -193 -21 -714 -1,625 Other private 4 274 -424 1,087 449 -66 170 -12 481 -288 Private nonguaranteed 3 223 415 2,828 2,429 845 331 -41 -176 307 Bonds 0 0 0 1,844 -15 0 -384 440 -549 841 Commercial banks and other 3 223 415 984 2,444 845 716 -481 373 -534 Memo: IBRD 16 54 41 -75 208 -69 -86 -22 -70 -11 IDA 0 0 0 0 0 0 0 0 0 0 338 MALAYSIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 25 338 997 1,588 1,612 1,603 2,033 1,946 1,731 1,908 Public and publicly guaranteed 22 250 956 903 1,000 1,086 1,171 1,278 1,189 1,397 Official creditors 13 86 232 202 207 244 259 267 266 223 Multilateral 8 60 145 90 82 100 98 88 80 65 Concessional 0 0 1 0 0 0 0 0 0 0 Bilateral 5 26 87 112 125 145 160 179 186 158 Concessional 3 19 75 81 70 92 94 102 119 112 Private creditors 9 163 724 702 792 841 912 1,011 923 1,174 Bonds 8 18 414 509 536 592 611 664 669 892 Commercial banks 0 108 199 142 161 156 189 235 165 195 Other private 1 37 111 50 96 94 112 111 89 87 Private nonguaranteed 3 88 41 685 612 517 862 668 542 510 Bonds 0 0 0 60 161 157 159 158 152 190 Commercial banks and other 3 88 41 625 451 360 703 510 390 320 Memo: IBRD 8 39 86 57 50 67 66 59 54 47 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -24 774 -2,481 2,939 1,306 165 -257 1,076 167 -3,609 Public and publicly guaranteed -24 639 -2,855 796 -511 -163 273 1,785 885 -3,406 Official creditors 10 46 140 -370 15 350 347 1,804 -470 -319 Multilateral 9 25 -88 -143 125 -185 -177 -137 -183 -136 Concessional 0 0 0 0 0 0 0 0 0 0 Bilateral 1 22 228 -227 -110 535 524 1,941 -288 -183 Concessional 9 42 262 -345 -19 23 381 1,303 -87 -104 Private creditors -34 593 -2,995 1,166 -525 -513 -74 -20 1,355 -3,087 Bonds -38 -29 -1,654 150 -835 155 250 360 1,843 -892 Commercial banks 0 384 -806 -21 -43 -509 -381 -256 -879 -1,820 Other private 4 237 -535 1,037 353 -159 58 -124 392 -375 Private nonguaranteed 0 135 374 2,143 1,817 328 -531 -708 -718 -203 Bonds 0 0 0 1,784 -176 -157 -544 282 -701 651 Commercial banks and other 0 135 374 359 1,993 485 13 -991 -17 -854 Memo: IBRD 8 15 -46 -132 158 -135 -152 -81 -124 -57 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 82 683 4,164 5,864 5,418 4,456 6,179 6,034 7,599 9,212 Public and publicly guaranteed 69 376 3,653 2,770 2,134 2,645 3,187 3,736 5,381 5,675 Official creditors 29 165 597 1,032 585 1,021 1,099 1,097 1,678 1,152 Multilateral 13 94 361 281 261 256 238 208 245 225 Concessional 0 0 2 0 0 0 0 0 0 0 Bilateral 16 71 236 751 324 765 861 889 1,432 927 Concessional 7 37 198 616 233 678 761 781 522 351 Private creditors 40 211 3,056 1,738 1,550 1,624 2,088 2,639 3,703 4,523 Bonds 38 29 1,654 595 835 855 811 1,340 1,996 892 Commercial banks 0 126 863 921 500 557 1,053 1,076 1,476 3,256 Other private 2 57 539 222 215 212 224 223 232 375 Private nonguaranteed 13 306 511 3,094 3,283 1,811 2,991 2,298 2,218 3,537 Bonds 0 0 0 60 176 157 904 268 701 256 Commercial banks and other 13 306 511 3,034 3,107 1,654 2,087 2,031 1,517 3,281 Memo: IBRD 13 65 250 183 167 177 166 141 180 144 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 201 1,761 2,068 1,193 913 4,420 5,865 3,889 4,058 3,219 Official creditors 181 1,404 1,795 831 559 2,314 2,288 3,366 3,737 3,219 Private creditors 20 357 273 362 353 2,106 3,577 523 322 0 Memorandum items Concessional LDOD 94 567 2,234 2,033 2,333 2,735 2,939 3,159 3,194 3,462 Variable rate LDOD 50 2,665 6,559 19,457 20,286 21,038 22,401 21,921 22,044 20,279 Public sector LDOD 390 4,007 11,592 16,807 18,155 18,930 19,135 23,993 26,344 25,393 Private sector LDOD 50 1,248 1,830 15,482 15,786 16,961 18,166 14,327 14,120 14,856 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 0.8 4.3 3.9 Deutsche mark 6.9 3.3 5.9 0.5 0.4 0.3 0.2 .. .. .. French franc 0.0 13.0 2.8 0.4 0.4 0.3 0.2 .. .. .. Japanese yen 2.2 19.0 36.5 26.5 29.6 29.8 27.6 22.3 20.5 23.5 Pound sterling 37.8 3.6 1.6 1.1 0.9 0.8 0.7 0.5 0.5 0.6 Swiss franc 0.0 2.3 3.6 0.5 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 14.0 36.7 31.8 55.8 58.7 60.0 62.8 70.9 70.2 67.9 Multiple currency 36.3 21.0 15.0 15.0 9.7 8.6 7.7 5.3 4.4 4.0 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 2.8 1.2 2.7 0.2 0.2 0.1 0.9 0.1 0.1 0.0 339 MALAYSIA (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 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 7,555 -4,819 -506 37 2,671 4,222 241 Net flows on debt 1 1,592 -1,851 8,397 -3,552 -689 404 4,672 3,976 -1,245 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 -676 607 711 -689 -734 623 922 Residual .. .. -25 -166 -1,874 -527 322 -1,268 -377 564 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.1 11.2 4.8 5.9 4.1 5.2 5.7 4.0 4.9 1.4 Maturity (years) 18.7 13.8 20.9 13.0 14.2 14.4 13.2 13.6 11.7 6.7 Grace period (years) 4.8 5.4 6.0 4.7 3.6 6.2 3.9 5.8 7.9 0.7 Grant element (%) 22.8 -6.6 37.3 21.4 32.8 28.7 22.7 33.3 25.5 23.7 Official creditors Interest (%) 6.4 6.7 4.0 7.4 6.3 4.5 3.2 3.7 3.7 3.0 Maturity (years) 21.0 18.3 22.9 22.3 15.8 19.5 24.3 14.9 16.9 15.6 Grace period (years) 5.7 5.0 6.7 4.2 3.8 5.1 3.5 3.3 4.9 2.1 Grant element (%) 24.0 20.9 44.2 15.8 20.9 35.8 45.1 31.6 37.5 37.4 Private creditors Interest (%) 5.1 14.1 8.9 5.9 3.4 5.7 7.0 4.5 5.2 1.3 Maturity (years) 8.8 10.9 11.4 12.7 13.7 10.3 7.6 11.6 10.2 6.1 Grace period (years) 1.3 5.7 2.6 4.7 3.5 7.1 4.0 9.7 8.7 0.6 Grant element (%) 17.3 -23.9 4.3 21.5 36.4 22.9 11.4 35.9 22.2 22.8 Memorandum items Commitments 84 1,423 701 2,405 1,278 5,312 5,444 7,053 6,161 1,509 Official creditors 68 550 579 74 300 2,379 1,818 4,279 1,343 92 Private creditors 16 873 122 2,330 978 2,934 3,625 2,774 4,818 1,417 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,495 855 496 228 81 39 20 2 2 0 Principal 4,771 5,571 4,887 6,141 3,602 5,845 2,333 1,483 971 995 Interest 1,786 1,637 1,420 1,192 1,013 792 610 539 451 409 Official creditors Disbursements 1,495 855 496 228 81 39 20 2 2 0 Principal 834 810 849 929 909 882 567 489 476 377 Interest 244 245 232 208 181 152 122 105 90 75 Bilateral creditors Disbursements 1,446 823 472 211 72 33 16 0 0 0 Principal 688 659 702 791 784 760 477 412 412 314 Interest 183 192 187 170 151 128 105 92 80 68 Multilateral creditors Disbursements 48 32 24 17 9 6 4 2 2 0 Principal 145 151 147 138 126 122 90 77 64 63 Interest 61 54 46 38 30 23 17 13 10 7 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3,937 4,761 4,038 5,213 2,692 4,963 1,766 993 496 618 Interest 1,542 1,392 1,188 984 833 641 487 433 361 334 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 516 616 688 557 422 587 0 0 2 2 Interest 123 102 79 52 30 8 1 1 1 1 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3,421 4,145 3,350 4,656 2,271 4,376 1,766 993 493 616 Interest 1,419 1,289 1,108 931 803 633 487 433 361 333 340 MALDIVES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 25.8 78.0 171.3 193.6 218.9 206.0 234.9 271.7 281.0 Long-term debt (LDOD) .. 24.8 64.0 164.3 183.4 194.1 184.7 180.7 223.0 255.1 Public and publicly guaranteed .. 24.8 64.0 164.3 183.4 194.1 184.7 180.7 223.0 255.1 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 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 7.0 10.2 24.8 21.4 54.3 48.7 25.9 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 TOTAL DEBT FLOWS Disbursements .. 17.9 13.0 32.7 30.7 17.4 13.6 20.1 42.6 36.6 Long-term debt .. 17.9 13.0 32.7 30.7 17.4 13.6 20.1 42.6 36.6 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 24.2 11.6 12.3 13.9 15.8 16.6 16.0 Long-term debt .. 0.0 6.0 24.2 11.6 12.3 13.9 15.8 16.6 16.0 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 10.8 22.3 19.7 -3.8 37.2 20.4 -2.2 of which short-term debt .. -5.0 1.6 2.3 3.2 14.6 -3.5 32.9 -5.6 -22.8 Interest payments (INT) .. 0.5 2.8 4.4 4.3 5.4 5.9 6.0 5.7 5.2 Long-term debt .. 0.3 1.3 4.1 3.9 4.4 4.7 4.6 4.4 4.6 IMF charges .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. 0.3 1.5 0.4 0.4 0.9 1.2 1.4 1.3 0.7 Net transfers on debt .. 12.4 5.8 6.4 18.0 14.3 -9.7 31.3 14.7 -7.4 Total debt service paid (TDS) .. 0.5 8.8 28.6 15.9 17.7 19.8 21.7 22.2 21.2 Long-term debt .. 0.3 7.3 28.2 15.5 16.7 18.7 20.4 20.9 20.6 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 0.4 0.4 0.9 1.2 1.4 1.3 0.7 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 19.0 23.9 32.9 43.8 34.8 22.7 30.7 48.5 39.5 Net flow of long-term debt (ex. IMF) .. 17.9 7.0 8.5 19.1 5.1 -0.4 4.3 26.0 20.6 Foreign direct investment (net) .. 0.0 5.6 11.4 11.5 12.3 13.0 11.7 12.4 13.5 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 13.0 13.2 17.5 10.0 14.6 10.1 5.4 Memo: technical coop. grants .. 2.8 5.8 8.0 7.0 8.3 7.6 5.4 6.5 6.8 official net resource flows .. 19.0 17.2 15.5 21.6 18.2 9.6 18.5 21.5 15.7 private net resource flows .. 0.0 6.7 17.4 22.1 16.6 13.0 12.2 27.0 23.7 NET TRANSFERS .. 17.2 8.7 -1.0 8.2 -3.8 -16.5 -13.6 8.8 -4.1 Interest on long-term debt .. 0.3 1.3 4.1 3.9 4.4 4.7 4.6 4.4 4.6 Profit remittances on FDI .. 1.5 13.9 29.8 31.7 34.2 34.4 39.7 35.3 39.0 Memo: official net transfers .. 18.7 16.4 12.4 18.9 15.5 7.1 16.0 19.0 13.5 private net transfers .. -1.5 -7.7 -13.4 -10.7 -19.3 -23.6 -29.6 -10.2 -17.6 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 193.8 480.8 511.9 558.2 594.3 586.5 604.2 680.0 Exports of goods, serv. & inc. (XGS) .. 65.2 183.8 409.3 435.5 443.3 467.5 472.5 500.8 591.7 Worker remit. & comp. of employees .. 0.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 3.0 Imports of goods & services (MGS) .. 89.8 177.7 436.1 447.1 502.1 492.0 501.5 496.9 579.9 International reserves (RES) .. 0.9 24.5 98.8 119.1 127.6 123.3 93.6 133.8 160.3 Current account balance .. -22.2 9.9 -34.7 -21.9 -78.9 -51.5 -58.7 -35.7 -30.4 4. DEBT INDICATORS EDT / XGS (%) .. 39.5 42.4 41.9 44.5 49.4 44.1 49.7 54.2 47.5 EDT / GNI (%) .. .. 40.2 35.6 37.8 39.2 34.7 40.1 45.0 41.3 TDS / XGS (%) .. 0.8 4.8 7.0 3.7 4.0 4.2 4.6 4.4 3.6 INT / XGS (%) .. 0.8 1.5 1.1 1.0 1.2 1.3 1.3 1.1 0.9 INT / GNI (%) .. .. 1.4 0.9 0.8 1.0 1.0 1.0 0.9 0.8 RES / EDT (%) .. 3.7 31.4 57.7 61.5 58.3 59.9 39.8 49.2 57.0 RES / MGS (months) .. 0.1 1.7 2.7 3.2 3.1 3.0 2.2 3.2 3.3 Short-term / EDT (%) .. 3.9 18.0 4.1 5.3 11.3 10.4 23.1 17.9 9.2 Concessional / EDT (%) .. 96.1 71.0 79.1 73.8 68.7 69.1 59.5 60.5 64.1 Multilateral / EDT (%) .. 13.6 41.7 58.7 58.3 57.1 58.5 51.0 52.9 56.4 341 MALDIVES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 24.8 64.0 164.3 183.4 194.1 184.7 180.7 223.0 255.1 Public and publicly guaranteed .. 24.8 64.0 164.3 183.4 194.1 184.7 180.7 223.0 255.1 Official creditors .. 24.8 60.2 147.5 155.4 163.4 154.8 151.0 175.1 191.0 Multilateral .. 3.5 32.5 100.6 112.9 124.9 120.5 119.8 143.8 158.5 Concessional .. 3.5 32.5 99.1 109.9 120.4 115.4 114.9 138.5 152.6 Bilateral .. 21.3 27.6 47.0 42.5 38.5 34.3 31.2 31.3 32.5 Concessional .. 21.3 22.8 36.5 32.9 30.0 26.9 24.8 26.0 27.6 Private creditors .. 0.0 3.8 16.8 28.1 30.7 29.9 29.7 47.9 64.1 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 10.7 18.7 24.0 23.7 24.9 43.9 61.2 Other private .. 0.0 3.8 6.1 9.3 6.7 6.2 4.8 4.0 2.9 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 39.0 44.1 45.6 46.4 44.4 50.3 57.6 DISBURSEMENTS .. 17.9 13.0 32.7 30.7 17.4 13.6 20.1 42.6 36.6 Public and publicly guaranteed .. 17.9 13.0 32.7 30.7 17.4 13.6 20.1 42.6 36.6 Official creditors .. 17.9 9.6 23.5 15.0 7.2 6.3 10.2 18.5 16.5 Multilateral .. 2.6 3.6 11.0 14.8 6.8 6.1 9.6 15.0 12.8 Concessional .. 2.6 3.6 9.9 13.4 5.1 5.4 9.6 14.9 12.8 Bilateral .. 15.3 5.9 12.5 0.2 0.4 0.2 0.7 3.5 3.8 Concessional .. 15.3 1.1 1.8 0.2 0.4 0.2 0.7 3.5 3.8 Private creditors .. 0.0 3.5 9.2 15.8 10.2 7.3 9.9 24.1 20.0 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 5.7 10.7 10.0 6.1 9.9 24.1 20.0 Other private .. 0.0 3.5 3.4 5.0 0.2 1.2 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 .. 1.6 1.2 3.8 3.7 2.7 3.3 0.1 3.2 3.2 PRINCIPAL REPAYMENTS .. 0.0 6.0 24.2 11.6 12.3 13.9 15.8 16.6 16.0 Public and publicly guaranteed .. 0.0 6.0 24.2 11.6 12.3 13.9 15.8 16.6 16.0 Official creditors .. 0.0 3.7 21.0 6.5 6.5 6.7 6.4 7.0 6.2 Multilateral .. 0.0 1.5 1.5 1.7 2.2 2.5 2.6 3.0 3.3 Concessional .. 0.0 1.5 1.5 1.7 2.2 2.5 2.6 3.0 3.3 Bilateral .. 0.0 2.2 19.5 4.8 4.3 4.2 3.8 4.0 2.9 Concessional .. 0.0 1.9 4.0 3.8 3.3 3.2 2.7 2.9 2.5 Private creditors .. 0.0 2.3 3.2 5.1 5.8 7.3 9.4 9.5 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 1.5 1.3 2.9 4.0 6.1 8.0 8.2 8.3 Other private .. 0.0 0.9 1.8 2.2 1.9 1.2 1.4 1.3 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 0.0 0.1 0.1 0.3 0.4 0.4 0.6 0.7 NET FLOWS ON DEBT .. 17.9 7.0 8.5 19.1 5.1 -0.4 4.3 26.0 20.6 Public and publicly guaranteed .. 17.9 7.0 8.5 19.1 5.1 -0.4 4.3 26.0 20.6 Official creditors .. 17.9 5.9 2.5 8.5 0.7 -0.4 3.9 11.4 10.4 Multilateral .. 2.6 2.2 9.5 13.1 4.6 3.6 7.0 12.0 9.5 Concessional .. 2.6 2.2 8.4 11.7 2.9 2.9 7.0 11.9 9.5 Bilateral .. 15.3 3.7 -7.0 -4.6 -3.8 -4.0 -3.1 -0.6 0.8 Concessional .. 15.3 -0.8 -2.3 -3.7 -2.9 -3.0 -2.0 0.6 1.2 Private creditors .. 0.0 1.1 6.0 10.6 4.3 0.0 0.5 14.6 10.2 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 4.4 7.9 6.0 0.1 1.9 15.9 11.7 Other private .. 0.0 2.6 1.6 2.8 -1.6 0.0 -1.4 -1.3 -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 1.2 3.7 3.6 2.4 3.0 -0.3 2.6 2.5 342 MALDIVES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 0.3 1.3 4.1 3.9 4.4 4.7 4.6 4.4 4.6 Public and publicly guaranteed .. 0.3 1.3 4.1 3.9 4.4 4.7 4.6 4.4 4.6 Official creditors .. 0.3 0.8 3.0 2.7 2.7 2.6 2.5 2.5 2.2 Multilateral .. 0.0 0.3 1.3 1.3 1.5 1.5 1.5 1.6 1.6 Concessional .. 0.0 0.3 1.2 1.3 1.4 1.4 1.5 1.6 1.6 Bilateral .. 0.3 0.5 1.8 1.4 1.2 1.1 1.0 0.9 0.6 Concessional .. 0.3 0.3 0.6 0.6 0.6 0.5 0.5 0.4 0.4 Private creditors .. 0.0 0.5 1.0 1.2 1.7 2.2 2.1 1.9 2.3 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 0.7 0.9 1.2 1.8 1.8 1.6 2.1 Other private .. 0.0 0.4 0.4 0.3 0.5 0.4 0.3 0.3 0.2 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 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.4 NET TRANSFERS ON DEBT .. 17.6 5.7 4.4 15.2 0.6 -5.1 -0.2 21.6 16.0 Public and publicly guaranteed .. 17.6 5.7 4.4 15.2 0.6 -5.1 -0.2 21.6 16.0 Official creditors .. 17.6 5.0 -0.5 5.8 -2.0 -2.9 1.4 8.9 8.2 Multilateral .. 2.6 1.8 8.2 11.7 3.1 2.1 5.4 10.3 7.9 Concessional .. 2.6 1.8 7.2 10.4 1.5 1.4 5.5 10.3 7.9 Bilateral .. 15.0 3.2 -8.8 -6.0 -5.0 -5.1 -4.1 -1.4 0.3 Concessional .. 15.0 -1.1 -2.9 -4.3 -3.4 -3.5 -2.5 0.1 0.8 Private creditors .. 0.0 0.6 5.0 9.5 2.6 -2.2 -1.6 12.7 7.9 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 3.7 7.0 4.7 -1.8 0.1 14.3 9.6 Other private .. 0.0 2.2 1.2 2.5 -2.1 -0.4 -1.7 -1.6 -1.7 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 3.4 3.3 2.1 2.6 -0.6 2.3 2.1 DEBT SERVICE (LTDS) .. 0.3 7.3 28.2 15.5 16.7 18.7 20.4 20.9 20.6 Public and publicly guaranteed .. 0.3 7.3 28.2 15.5 16.7 18.7 20.4 20.9 20.6 Official creditors .. 0.3 4.5 24.0 9.2 9.2 9.2 8.8 9.6 8.4 Multilateral .. 0.0 1.8 2.8 3.0 3.7 4.0 4.1 4.7 4.9 Concessional .. 0.0 1.8 2.7 3.0 3.7 3.9 4.1 4.6 4.8 Bilateral .. 0.3 2.7 21.2 6.2 5.5 5.2 4.7 4.9 3.5 Concessional .. 0.3 2.2 4.7 4.5 3.8 3.7 3.2 3.3 3.0 Private creditors .. 0.0 2.8 4.2 6.3 7.6 9.4 11.5 11.4 12.2 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 2.0 3.8 5.2 7.9 9.8 9.8 10.4 Other private .. 0.0 1.2 2.2 2.5 2.3 1.6 1.7 1.6 1.7 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 0.6 0.7 0.8 0.9 1.1 UNDISBURSED DEBT .. 21.0 51.3 38.9 48.0 66.1 87.3 93.4 175.6 144.4 Official creditors .. 19.1 49.6 28.9 38.1 57.8 75.7 70.8 78.7 66.7 Private creditors .. 1.9 1.7 10.0 9.9 8.4 11.5 22.7 96.9 77.7 Memorandum items Concessional LDOD .. 24.8 55.4 135.6 142.9 150.4 142.3 139.7 164.5 180.2 Variable rate LDOD .. 0.0 0.0 6.6 13.2 16.7 15.1 14.8 12.0 25.0 Public sector LDOD .. 24.8 64.0 164.3 183.4 192.5 183.4 178.2 221.3 254.3 Private sector LDOD .. 0.0 0.0 0.0 0.0 1.5 1.2 2.5 1.7 0.8 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 4.2 15.5 15.1 Deutsche mark .. 0.0 13.0 0.1 2.6 1.9 1.5 .. .. .. French franc .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. Japanese yen .. 0.0 0.0 0.8 0.2 0.0 0.0 0.0 0.0 0.0 Pound sterling .. 0.0 0.4 0.7 0.5 0.3 0.2 0.1 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 .. 14.2 25.4 49.2 49.6 50.4 53.3 53.7 46.1 49.5 Multiple currency .. 0.0 12.4 21.7 20.7 24.0 22.3 20.3 18.7 14.4 Special drawing rights .. 0.0 0.0 1.7 1.6 1.7 1.8 4.9 4.5 4.3 All other currencies .. 85.8 48.8 25.9 24.8 21.6 20.9 16.8 15.2 16.7 343 MALDIVES (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 0.0 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 0.5 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 3.1 22.3 25.3 -12.9 28.9 36.7 9.3 Net flows on debt .. 12.9 8.6 10.8 22.3 19.7 -3.8 37.2 20.4 -2.2 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 -0.5 Cross-currency valuation .. .. 1.2 -8.4 2.4 -3.3 -6.5 -5.4 10.7 8.5 Residual .. .. 1.3 0.7 -2.5 8.9 -2.5 -2.9 5.7 3.5 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 2.9 0.8 5.6 4.1 2.8 3.7 5.1 3.8 6.3 Maturity (years) .. 14.7 37.3 8.6 17.4 19.9 26.6 14.9 15.1 11.0 Grace period (years) .. 4.4 9.2 1.9 3.9 4.6 6.9 3.5 2.9 1.5 Grant element (%) .. 41.2 77.2 17.1 33.4 47.8 47.7 27.3 32.7 15.0 Official creditors Interest (%) .. 2.5 0.8 5.1 2.3 1.6 2.5 2.7 1.7 0.0 Maturity (years) .. 15.5 37.3 9.3 27.9 24.4 34.7 27.2 30.2 0.0 Grace period (years) .. 4.7 9.2 1.7 6.6 5.7 9.3 9.0 7.8 0.0 Grant element (%) .. 44.2 77.2 19.7 55.4 60.2 63.3 58.1 66.2 0.0 Private creditors Interest (%) .. 7.5 0.0 6.2 6.2 6.7 6.6 5.9 4.3 6.3 Maturity (years) .. 6.6 0.0 7.6 6.0 5.4 7.4 10.8 11.6 11.0 Grace period (years) .. 1.1 0.0 2.2 0.9 1.0 1.1 1.7 1.7 1.5 Grant element (%) .. 6.9 0.0 13.7 9.5 8.3 10.1 17.1 24.7 15.0 Memorandum items Commitments .. 22 16 27 33 36 38 29 119 1 Official creditors .. 20 16 15 17 28 27 7 23 0 Private creditors .. 2 0 12 16 9 11 22 97 1 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 63.2 40.7 19.7 11.1 4.8 2.9 1.5 0.6 0.0 0.0 Principal 27.7 27.4 24.6 23.0 22.4 22.7 24.0 23.5 22.6 17.4 Interest 7.5 7.8 7.4 6.8 6.2 5.4 4.7 4.0 3.3 2.6 Official creditors Disbursements 21.1 16.6 11.5 7.7 4.8 2.9 1.5 0.6 0.0 0.0 Principal 10.5 11.0 11.3 9.7 9.1 9.6 10.9 10.7 10.4 9.9 Interest 3.0 3.0 3.0 2.9 2.8 2.7 2.6 2.4 2.3 2.1 Bilateral creditors Disbursements 6.4 5.4 3.7 2.3 1.3 0.7 0.4 0.1 0.0 0.0 Principal 5.0 5.2 5.2 4.9 3.1 3.1 3.1 3.2 2.7 2.1 Interest 0.8 0.8 0.7 0.6 0.5 0.5 0.4 0.3 0.3 0.2 Multilateral creditors Disbursements 14.7 11.2 7.8 5.4 3.5 2.1 1.1 0.5 0.0 0.0 Principal 5.5 5.8 6.1 4.8 6.0 6.5 7.8 7.5 7.7 7.7 Interest 2.2 2.3 2.3 2.3 2.3 2.2 2.2 2.1 2.0 1.9 Private creditors Disbursements 42.1 24.1 8.1 3.3 0.0 0.0 0.0 0.0 0.0 0.0 Principal 17.2 16.4 13.3 13.3 13.3 13.1 13.1 12.8 12.2 7.6 Interest 4.4 4.8 4.4 3.9 3.3 2.7 2.1 1.5 1.0 0.5 Commercial banks Disbursements 42.1 24.1 8.1 3.3 0.0 0.0 0.0 0.0 0.0 0.0 Principal 15.5 15.3 13.3 13.3 13.3 13.1 13.1 12.8 12.2 7.6 Interest 4.3 4.7 4.4 3.9 3.3 2.7 2.1 1.5 1.0 0.5 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.7 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Interest 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 344 MALI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 249 727 2,468 3,152 3,205 3,196 2,980 2,917 2,834 3,129 Long-term debt (LDOD) 238 664 2,337 2,702 2,833 2,814 2,671 2,642 2,518 2,910 Public and publicly guaranteed 238 664 2,337 2,702 2,833 2,814 2,671 2,642 2,518 2,910 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 9 39 69 176 186 193 176 171 166 169 Short-term debt 3 24 62 275 185 189 134 104 151 50 of which interest arrears on LDOD 3 1 9 43 42 44 42 57 7 6 Official creditors 3 1 9 43 42 44 42 57 7 6 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 12 75 63 632 550 545 541 540 108 115 Official creditors 7 73 63 632 550 545 541 540 108 115 Private creditors 6 2 0 0 0 0 0 0 0 0 Memo: export credits 0 0 86 88 64 63 61 43 133 163 TOTAL DEBT FLOWS Disbursements 24 109 195 156 111 144 109 137 152 216 Long-term debt 23 95 167 128 96 121 100 114 143 198 IMF purchases 2 14 28 28 14 23 9 23 9 18 Principal repayments 4 9 44 49 55 75 66 62 58 56 Long-term debt 0 6 25 42 44 64 50 47 40 38 IMF repurchases 4 3 18 7 11 12 16 15 18 18 Net flows on debt 20 99 159 293 -33 70 -11 30 191 59 of which short-term debt 0 -1 8 186 -89 2 -53 -45 97 -100 Interest payments (INT) 0 7 24 36 27 30 27 19 25 20 Long-term debt 0 3 17 20 18 21 18 15 21 17 IMF charges 0 1 4 1 1 1 1 1 1 1 Short-term debt 0 3 3 15 8 8 9 3 3 2 Net transfers on debt 20 92 135 257 -60 40 -38 11 166 39 Total debt service paid (TDS) 5 16 68 85 82 106 94 81 83 77 Long-term debt 1 9 43 62 62 85 68 62 61 56 IMF repurchases and charges 4 4 22 8 12 13 17 16 19 19 Short-term debt (interest only) 0 3 3 15 8 8 9 3 3 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 34 195 348 360 263 272 359 393 575 582 Net flow of long-term debt (ex. IMF) 23 89 142 86 52 57 50 67 104 159 Foreign direct investment (net) 0 2 6 63 9 2 82 122 244 129 Portfolio equity flows 0 0 0 0 0 23 0 14 -2 0 Grants (excluding technical coop.) 12 104 201 211 202 190 226 191 229 294 Memo: technical coop. grants 8 77 93 125 108 108 120 91 123 128 official net resource flows 34 185 344 297 254 247 276 258 333 453 private net resource flows 0 10 5 63 9 25 83 135 242 129 NET TRANSFERS 34 192 327 321 209 195 265 237 326 325 Interest on long-term debt 0 3 17 20 18 21 18 15 21 17 Profit remittances on FDI 0 0 4 19 36 56 76 141 227 240 Memo: official net transfers 34 182 327 276 236 226 258 243 312 436 private net transfers 0 9 0 44 -27 -31 7 -5 14 -111 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 354 1,768 2,405 2,422 2,546 2,526 2,392 2,464 3,103 4,156 Exports of goods, serv. & inc. (XGS) .. 322 549 751 746 788 729 981 1,207 .. Worker remit. & comp. of employees 0 59 107 92 84 86 73 88 138 138 Imports of goods & services (MGS) .. 537 889 966 943 1,072 1,023 1,344 1,376 1,514 International reserves (RES) 1 26 198 415 403 350 381 349 594 909 Current account balance .. -124 -221 -178 -164 -252 -237 -310 -149 .. 4. DEBT INDICATORS EDT / XGS (%) .. 225.7 449.3 419.7 429.3 405.4 408.8 297.5 234.8 .. EDT / GNI (%) 70.3 41.1 102.6 130.1 125.9 126.5 124.6 118.4 91.3 75.3 TDS / XGS (%) .. 5.1 12.3 11.3 11.0 13.4 12.9 8.2 6.9 .. INT / XGS (%) .. 2.3 4.4 4.8 3.6 3.8 3.8 2.0 2.1 .. INT / GNI (%) 0.1 0.4 1.0 1.5 1.1 1.2 1.1 0.8 0.8 0.5 RES / EDT (%) 0.4 3.5 8.0 13.2 12.6 10.9 12.8 12.0 21.0 29.0 RES / MGS (months) .. 0.6 2.7 5.2 5.1 3.9 4.5 3.1 5.2 7.2 Short-term / EDT (%) 1.1 3.3 2.5 8.7 5.8 5.9 4.5 3.5 5.3 1.6 Concessional / EDT (%) 93.0 84.4 91.1 83.6 82.8 82.7 84.1 85.1 87.7 91.9 Multilateral / EDT (%) 2.4 23.6 36.3 46.1 49.0 50.5 50.8 52.2 61.9 66.2 345 MALI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 238 664 2,337 2,702 2,833 2,814 2,671 2,642 2,518 2,910 Public and publicly guaranteed 238 664 2,337 2,702 2,833 2,814 2,671 2,642 2,518 2,910 Official creditors 231 629 2,321 2,702 2,833 2,814 2,671 2,642 2,518 2,910 Multilateral 6 172 897 1,454 1,571 1,614 1,513 1,523 1,755 2,071 Concessional 6 163 875 1,424 1,543 1,592 1,495 1,507 1,741 2,057 Bilateral 226 457 1,424 1,248 1,263 1,200 1,158 1,120 763 839 Concessional 226 451 1,373 1,212 1,112 1,053 1,012 974 744 820 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 6 121 498 939 1,009 1,035 957 981 1,134 1,322 DISBURSEMENTS 23 95 167 128 96 121 100 114 143 198 Public and publicly guaranteed 23 95 167 128 96 121 100 114 143 198 Official creditors 23 85 167 128 96 121 100 114 143 198 Multilateral 1 35 115 115 91 112 85 104 127 174 Concessional 1 30 111 114 90 112 85 103 127 173 Bilateral 22 50 52 13 6 8 14 10 17 24 Concessional 22 45 52 13 6 8 14 10 17 24 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 75 48 57 49 70 91 95 PRINCIPAL REPAYMENTS 0 6 25 42 44 64 50 47 40 38 Public and publicly guaranteed 0 6 25 42 44 64 50 47 40 38 Official creditors 0 4 24 42 44 64 50 47 40 38 Multilateral 0 0 14 27 29 33 26 23 21 26 Concessional 0 0 13 24 25 29 23 20 19 23 Bilateral 0 3 11 15 15 31 24 24 18 12 Concessional 0 3 10 14 14 29 23 23 17 11 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 9 11 7 6 3 5 NET FLOWS ON DEBT 23 89 142 86 52 57 50 67 104 159 Public and publicly guaranteed 23 89 142 86 52 57 50 67 104 159 Official creditors 23 81 143 86 52 57 50 67 104 159 Multilateral 1 35 101 87 62 80 59 81 105 147 Concessional 1 30 98 90 65 84 62 83 108 150 Bilateral 21 46 42 -2 -9 -23 -10 -14 -2 12 Concessional 21 42 42 -1 -8 -21 -9 -13 0 13 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 67 39 46 42 65 88 90 346 MALI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 3 17 20 18 21 18 15 21 17 Public and publicly guaranteed 0 3 17 20 18 21 18 15 21 17 Official creditors 0 2 17 20 18 21 18 15 21 17 Multilateral 0 1 10 14 12 15 12 11 15 14 Concessional 0 1 8 13 12 14 12 11 15 14 Bilateral 0 1 7 7 6 7 5 4 6 3 Concessional 0 1 6 5 4 5 4 4 6 3 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 7 7 7 7 7 7 8 NET TRANSFERS ON DEBT 22 86 124 65 34 36 32 52 82 142 Public and publicly guaranteed 22 86 124 65 34 36 32 52 82 142 Official creditors 22 79 126 65 34 36 32 52 82 142 Multilateral 1 34 92 74 49 65 47 70 90 133 Concessional 1 28 90 78 53 70 50 73 93 136 Bilateral 21 45 34 -9 -15 -30 -15 -19 -8 9 Concessional 21 41 37 -6 -13 -26 -13 -16 -6 9 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 61 32 39 36 58 81 82 DEBT SERVICE (LTDS) 1 9 43 62 62 85 68 62 61 56 Public and publicly guaranteed 1 9 43 62 62 85 68 62 61 56 Official creditors 1 6 41 62 62 85 68 62 61 56 Multilateral 0 2 23 41 41 47 38 33 36 40 Concessional 0 1 21 37 37 43 35 30 33 37 Bilateral 1 4 18 22 21 38 29 29 25 15 Concessional 1 4 15 19 18 34 27 27 22 15 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 14 16 18 14 13 10 13 UNDISBURSED DEBT 54 368 637 603 582 593 702 839 824 765 Official creditors 50 361 637 603 582 593 702 839 824 759 Private creditors 4 7 0 0 0 0 0 0 0 6 Memorandum items Concessional LDOD 231 613 2,248 2,636 2,654 2,645 2,507 2,482 2,485 2,876 Variable rate LDOD 0 0 6 2 1 1 0 0 0 0 Public sector LDOD 238 664 2,331 2,702 2,833 2,814 2,671 2,642 2,518 2,910 Private sector LDOD 0 0 6 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 14.2 16.8 16.4 Deutsche mark 2.8 0.9 0.2 0.1 0.1 0.1 0.1 .. .. .. French franc 16.9 21.3 36.7 18.8 18.4 16.8 14.1 .. .. .. Japanese yen 0.0 0.0 0.3 2.7 2.8 3.2 2.9 2.5 2.8 2.6 Pound sterling 37.5 11.5 2.6 1.9 1.8 1.8 1.8 1.7 2.0 1.9 Swiss franc 5.9 5.6 2.3 1.7 1.7 1.5 1.5 1.5 1.9 1.8 U.S.dollars 4.9 11.6 14.8 25.8 30.8 32.1 33.9 35.8 43.8 44.2 Multiple currency 0.4 6.4 15.3 18.5 19.0 19.0 18.8 17.9 20.9 20.0 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 All other currencies 31.5 42.7 27.8 30.6 25.2 25.5 26.9 26.4 11.8 13.0 347 MALI (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 11 0 115 0 0 0 350 0 Debt stock rescheduled .. .. 0 0 110 0 0 0 206 0 Principal rescheduled .. .. 7 0 1 0 0 0 124 0 Official .. .. 4 0 1 0 0 0 124 0 Private .. .. 3 0 0 0 0 0 0 0 Interest rescheduled .. .. 5 0 2 0 0 0 0 0 Official .. .. 4 0 2 0 0 0 0 0 Private .. .. 1 0 0 0 0 0 0 0 Debt forgiven .. .. 2 0 4 0 3 16 451 24 Memo: interest forgiven .. .. 2 0 0 0 1 2 44 5 Debt stock reduction .. .. 0 0 0 0 74 1 0 0 of which debt buyback .. .. 0 0 0 0 45 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 340 146 53 -9 -216 -63 -83 295 Net flows on debt 20 99 159 293 -33 70 -11 30 191 59 Net change in interest arrears .. .. 8 10 -1 2 -2 15 -50 0 Interest capitalized .. .. 5 0 2 0 0 0 0 0 Debt forgiveness or reduction .. .. -2 0 -4 0 -32 -16 -451 -24 Cross-currency valuation .. .. 119 -213 -30 -76 -182 -74 159 209 Residual .. .. 51 56 118 -5 10 -18 68 51 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.1 2.2 1.0 1.1 1.6 2.1 0.6 0.9 0.9 1.3 Maturity (years) 25.0 23.0 29.9 43.2 28.4 30.0 34.9 37.7 39.2 40.3 Grace period (years) 9.5 5.5 8.4 9.8 7.6 7.9 8.8 10.1 8.5 8.9 Grant element (%) 68.2 50.5 67.6 76.8 64.4 58.3 76.6 77.6 75.5 73.1 Official creditors Interest (%) 0.3 1.8 1.0 1.1 1.6 2.1 0.6 0.9 0.9 1.1 Maturity (years) 27.4 23.9 29.9 43.2 28.4 30.0 34.9 37.7 39.2 42.4 Grace period (years) 10.6 5.6 8.4 9.8 7.6 7.9 8.8 10.1 8.5 9.4 Grant element (%) 76.4 53.2 67.6 76.8 64.4 58.3 76.6 77.6 75.5 76.2 Private creditors Interest (%) 6.7 9.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.2 Maturity (years) 8.5 6.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.7 Grace period (years) 1.6 2.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.2 Grant element (%) 11.5 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26.2 Memorandum items Commitments 34 146 123 136 51 150 245 274 83 85 Official creditors 30 138 123 136 51 150 245 274 83 80 Private creditors 4 7 0 0 0 0 0 0 0 5 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 166 183 140 103 72 45 31 15 8 1 Principal 90 98 107 114 115 115 120 126 128 127 Interest 29 30 31 30 29 28 27 25 24 22 Official creditors Disbursements 164 182 139 102 72 45 31 15 8 1 Principal 90 98 106 113 115 114 119 125 127 127 Interest 29 30 30 30 29 28 26 25 24 22 Bilateral creditors Disbursements 25 26 17 11 6 3 2 1 0 0 Principal 36 38 41 43 43 39 41 43 42 40 Interest 8 8 8 7 7 7 6 6 5 5 Multilateral creditors Disbursements 139 156 122 92 66 42 28 13 8 1 Principal 54 60 65 70 71 74 77 82 85 87 Interest 21 22 23 22 22 21 20 19 19 18 Private creditors Disbursements 3 2 1 0 0 0 0 0 0 0 Principal 0 0 1 1 1 1 1 1 1 0 Interest 0 0 0 0 0 0 0 0 0 0 Commercial banks Disbursements 3 2 1 0 0 0 0 0 0 0 Principal 0 0 1 1 1 1 1 1 1 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 0 348 MAURITANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 26 839 2,113 2,493 2,391 2,532 2,488 2,291 2,269 2,360 Long-term debt (LDOD) 26 713 1,806 2,077 2,049 2,148 2,142 1,945 1,944 2,084 Public and publicly guaranteed 26 713 1,806 2,077 2,049 2,148 2,142 1,945 1,944 2,084 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 61 70 113 110 107 98 105 113 104 Short-term debt 0 65 238 304 232 278 248 242 212 172 of which interest arrears on LDOD 0 10 63 86 84 130 109 91 99 108 Official creditors 0 9 57 86 84 130 109 91 99 108 Private creditors 0 1 7 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 44 142 194 362 405 331 258 310 226 Official creditors 0 24 121 194 362 405 331 258 310 226 Private creditors 0 21 21 0 0 0 0 0 0 0 Memo: export credits 0 0 230 204 126 85 86 65 66 48 TOTAL DEBT FLOWS Disbursements 4 155 148 107 55 57 123 102 133 128 Long-term debt 4 125 136 87 55 49 115 79 117 127 IMF purchases 0 30 12 20 0 8 8 23 16 1 Principal repayments 3 26 98 70 68 69 53 45 36 38 Long-term debt 3 17 83 62 62 60 47 40 30 30 IMF repurchases 0 9 16 7 7 9 6 5 6 8 Net flows on debt 1 139 102 156 -84 -11 61 69 59 41 of which short-term debt 0 10 53 119 -71 1 -9 12 -38 -49 Interest payments (INT) 0 22 47 44 41 36 32 30 19 17 Long-term debt 0 13 35 35 33 28 20 22 14 14 IMF charges 0 2 3 1 1 1 1 1 1 0 Short-term debt 0 7 9 8 8 7 11 7 4 2 Net transfers on debt 1 118 55 112 -126 -47 29 39 40 24 Total debt service paid (TDS) 4 48 146 114 110 105 85 75 54 55 Long-term debt 4 30 118 97 94 88 67 62 44 44 IMF repurchases and charges 0 11 19 8 7 10 7 6 6 9 Short-term debt (interest only) 0 7 9 8 8 7 11 7 4 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5 197 138 178 125 155 233 303 442 466 Net flow of long-term debt (ex. IMF) 1 108 54 25 -6 -11 68 39 87 97 Foreign direct investment (net) 1 27 7 1 0 1 40 92 118 214 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 61 78 152 131 165 125 172 237 155 Memo: technical coop. grants 4 29 50 42 36 37 33 35 35 42 official net resource flows 6 170 133 179 127 156 195 214 320 248 private net resource flows -1 27 5 -1 -2 -1 38 89 121 218 NET TRANSFERS 4 161 103 141 91 127 212 281 427 452 Interest on long-term debt 0 13 35 35 33 28 20 22 14 14 Profit remittances on FDI 0 23 1 2 1 0 0 0 0 0 Memo: official net transfers 5 161 98 145 96 130 176 193 306 234 private net transfers -1 1 4 -4 -5 -3 36 88 121 217 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 196 672 1,076 1,045 962 921 959 959 1,127 1,159 Exports of goods, serv. & inc. (XGS) .. 275 488 463 397 .. .. .. .. .. Worker remit. & comp. of employees 0 6 14 3 2 2 2 2 2 2 Imports of goods & services (MGS) .. 493 570 557 505 .. .. .. .. .. International reserves (RES) 3 146 59 204 206 228 283 288 400 420 Current account balance .. -133 -10 48 77 .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 304.9 432.9 539.0 601.8 .. .. .. .. .. EDT / GNI (%) 13.4 125.0 196.4 238.7 248.4 274.8 259.6 238.9 201.3 203.6 TDS / XGS (%) .. 17.3 29.8 24.5 27.7 .. .. .. .. .. INT / XGS (%) .. 7.9 9.7 9.5 10.4 .. .. .. .. .. INT / GNI (%) 0.2 3.2 4.4 4.2 4.3 3.9 3.3 3.1 1.7 1.4 RES / EDT (%) 12.2 17.4 2.8 8.2 8.6 9.0 11.4 12.6 17.6 17.8 RES / MGS (months) .. 3.6 1.2 4.4 4.9 .. .. .. .. .. Short-term / EDT (%) 0.0 7.7 11.2 12.2 9.7 11.0 10.0 10.6 9.3 7.3 Concessional / EDT (%) 52.0 62.6 60.8 68.4 72.0 70.6 73.2 75.9 78.7 83.1 Multilateral / EDT (%) 21.4 14.8 31.0 37.7 41.6 38.4 39.9 45.3 49.9 55.7 349 MAURITANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 26 713 1,806 2,077 2,049 2,148 2,142 1,945 1,944 2,084 Public and publicly guaranteed 26 713 1,806 2,077 2,049 2,148 2,142 1,945 1,944 2,084 Official creditors 18 582 1,709 2,053 2,027 2,128 2,123 1,940 1,939 2,076 Multilateral 6 125 654 939 994 971 994 1,037 1,132 1,314 Concessional 6 106 453 776 835 838 878 945 1,062 1,233 Bilateral 13 458 1,055 1,114 1,033 1,157 1,129 903 806 762 Concessional 8 420 831 928 886 951 943 794 723 727 Private creditors 8 131 97 24 22 20 19 4 6 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 16 0 0 0 0 0 1 6 8 Other private 8 114 97 24 22 20 19 3 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 54 6 4 2 0 0 0 0 IDA 5 38 210 372 408 415 449 475 547 634 DISBURSEMENTS 4 125 136 87 55 49 115 79 117 127 Public and publicly guaranteed 4 125 136 87 55 49 115 79 117 127 Official creditors 4 112 136 87 55 49 115 79 113 123 Multilateral 2 27 112 79 50 46 106 77 99 116 Concessional 2 12 65 74 47 43 98 76 93 97 Bilateral 2 85 24 8 5 3 9 2 14 7 Concessional 2 84 24 6 5 3 9 2 14 7 Private creditors 1 13 0 0 0 0 0 0 4 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 0 0 0 0 0 0 0 4 4 Other private 1 13 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 4 39 34 24 19 57 48 41 42 PRINCIPAL REPAYMENTS 3 17 83 62 62 60 47 40 30 30 Public and publicly guaranteed 3 17 83 62 62 60 47 40 30 30 Official creditors 1 4 81 61 60 58 45 37 30 30 Multilateral 0 2 66 39 38 44 34 22 17 14 Concessional 0 1 15 19 22 24 21 14 10 9 Bilateral 1 2 15 22 22 14 11 15 13 16 Concessional 0 2 11 20 19 12 8 13 13 16 Private creditors 2 13 1 2 2 2 2 3 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 9 1 2 2 2 2 3 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 11 2 2 2 2 0 0 0 IDA 0 0 1 2 3 3 1 2 1 1 NET FLOWS ON DEBT 1 108 54 25 -6 -11 68 39 87 97 Public and publicly guaranteed 1 108 54 25 -6 -11 68 39 87 97 Official creditors 3 108 55 26 -4 -9 70 42 83 93 Multilateral 2 25 46 41 12 2 72 55 82 102 Concessional 2 12 49 55 25 19 77 63 83 88 Bilateral 1 83 9 -14 -16 -11 -2 -13 1 -8 Concessional 1 82 14 -14 -14 -9 1 -11 1 -8 Private creditors -2 0 -1 -2 -2 -2 -2 -3 4 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -5 0 0 0 0 0 0 4 4 Other private -2 5 -1 -2 -2 -2 -2 -3 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 -11 -2 -2 -2 -2 0 0 0 IDA 1 4 38 32 21 16 57 45 41 41 350 MAURITANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 13 35 35 33 28 20 22 14 14 Public and publicly guaranteed 0 13 35 35 33 28 20 22 14 14 Official creditors 0 9 34 34 30 26 19 21 14 14 Multilateral 0 3 20 19 18 19 14 12 11 11 Concessional 0 2 7 11 10 11 10 9 8 9 Bilateral 0 6 14 14 13 7 5 9 4 3 Concessional 0 6 6 9 8 4 3 6 4 3 Private creditors 0 4 1 2 2 2 2 1 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 2 1 2 2 2 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 4 0 0 0 0 0 0 0 IDA 0 0 1 3 3 3 2 3 3 4 NET TRANSFERS ON DEBT 1 96 19 -10 -39 -39 48 17 73 83 Public and publicly guaranteed 1 96 19 -10 -39 -39 48 17 73 83 Official creditors 3 99 21 -7 -35 -35 52 21 69 79 Multilateral 2 23 25 21 -6 -17 58 43 71 90 Concessional 2 9 43 45 15 9 67 54 75 79 Bilateral 0 77 -5 -29 -29 -18 -7 -22 -2 -11 Concessional 1 75 8 -23 -21 -13 -2 -16 -2 -11 Private creditors -2 -4 -2 -3 -4 -4 -4 -4 4 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -7 0 0 0 0 0 0 4 3 Other private -2 3 -2 -3 -4 -4 -4 -4 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 -16 -2 -2 -2 -2 0 0 0 IDA 1 4 37 29 18 13 55 43 38 37 DEBT SERVICE (LTDS) 4 30 118 97 94 88 67 62 44 44 Public and publicly guaranteed 4 30 118 97 94 88 67 62 44 44 Official creditors 1 13 116 94 90 84 63 58 44 44 Multilateral 0 4 87 58 56 63 47 34 28 26 Concessional 0 3 22 29 32 35 30 23 18 18 Bilateral 1 8 29 36 34 21 16 24 16 18 Concessional 1 8 17 29 27 16 11 18 16 18 Private creditors 2 17 2 3 4 4 4 4 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 2 10 2 3 4 4 4 4 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 16 2 2 2 2 0 0 0 IDA 0 1 2 5 6 6 3 5 4 5 UNDISBURSED DEBT 16 682 621 352 376 426 365 574 492 461 Official creditors 11 653 616 352 376 426 365 565 486 459 Private creditors 5 29 5 0 0 0 0 10 6 2 Memorandum items Concessional LDOD 14 526 1,284 1,705 1,721 1,789 1,821 1,738 1,785 1,960 Variable rate LDOD 0 17 144 142 97 167 156 96 73 91 Public sector LDOD 26 713 1,806 2,077 2,049 2,148 2,142 1,945 1,944 2,084 Private sector LDOD 0 0 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 13.8 9.6 3.5 Deutsche mark 0.0 3.1 0.6 0.5 0.5 0.4 0.4 .. .. .. French franc 49.2 7.2 6.0 8.7 9.4 7.6 6.6 .. .. .. Japanese yen 0.0 0.0 1.3 3.4 3.7 3.9 3.4 3.3 3.5 3.6 Pound sterling 0.0 0.2 0.6 0.6 0.5 0.5 0.4 0.4 0.0 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 37.5 35.8 38.3 38.7 37.7 39.8 40.9 Multiple currency 2.7 3.0 4.2 1.5 1.4 1.2 1.0 1.0 1.0 0.9 Special drawing rights 0.0 0.0 2.1 2.4 2.5 2.4 2.2 2.4 2.6 2.6 All other currencies 24.4 43.2 50.9 45.6 46.1 45.7 47.3 41.3 43.5 48.4 351 MAURITANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 11 12 0 133 131 74 109 213 Debt stock rescheduled .. .. 0 0 0 0 3 68 95 131 Principal rescheduled .. .. 7 5 1 0 92 1 1 37 Official .. .. 5 5 1 0 92 1 1 37 Private .. .. 3 0 0 0 0 0 0 0 Interest rescheduled .. .. 4 3 0 0 18 1 1 11 Official .. .. 4 3 0 0 18 1 1 11 Private .. .. 1 0 0 0 0 0 0 0 Debt forgiven .. .. 70 9 0 0 31 19 22 20 Memo: interest forgiven .. .. 1 2 0 0 17 7 5 5 Debt stock reduction .. .. 0 0 0 0 0 0 153 129 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 142 37 -103 141 -44 -197 -23 91 Net flows on debt 1 139 102 156 -84 -11 61 69 59 41 Net change in interest arrears .. .. 21 5 -1 45 -20 -19 8 9 Interest capitalized .. .. 4 3 0 0 18 1 1 11 Debt forgiveness or reduction .. .. -70 -9 0 0 -31 -19 -175 -149 Cross-currency valuation .. .. 50 -143 11 -62 -71 -50 114 111 Residual .. .. 34 26 -29 169 -1 -179 -30 68 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.0 3.6 3.1 2.3 1.8 1.0 1.5 1.7 1.8 1.3 Maturity (years) 10.6 22.3 31.2 30.0 25.4 39.7 33.7 34.2 26.5 33.8 Grace period (years) 3.0 9.1 8.5 6.4 6.5 9.8 8.7 9.3 7.3 8.0 Grant element (%) 18.9 47.5 56.8 59.2 57.4 77.6 69.5 69.1 61.9 67.2 Official creditors Interest (%) 3.2 2.7 3.1 2.3 1.8 1.0 1.5 1.5 1.8 1.3 Maturity (years) 20.9 24.5 31.2 30.0 25.4 39.7 33.7 35.0 26.5 33.8 Grace period (years) 5.4 10.4 8.5 6.4 6.5 9.8 8.7 9.6 7.3 8.0 Grant element (%) 44.4 55.2 56.8 59.2 57.4 77.6 69.5 70.7 61.9 67.2 Private creditors Interest (%) 6.7 7.7 0.0 0.0 0.0 0.0 0.0 5.8 0.0 0.0 Maturity (years) 8.2 11.4 0.0 0.0 0.0 0.0 0.0 9.8 0.0 0.0 Grace period (years) 2.4 2.9 0.0 0.0 0.0 0.0 0.0 1.8 0.0 0.0 Grant element (%) 13.2 10.0 0.0 0.0 0.0 0.0 0.0 16.6 0.0 0.0 Memorandum items Commitments 7 211 216 113 60 115 79 314 45 81 Official creditors 1 175 216 113 60 115 79 304 45 81 Private creditors 6 36 0 0 0 0 0 10 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 92 90 70 55 43 29 21 12 8 5 Principal 59 61 62 58 59 63 65 66 68 70 Interest 24 24 23 22 22 21 20 18 18 17 Official creditors Disbursements 91 89 70 55 43 29 21 12 8 5 Principal 58 60 61 56 58 62 64 65 68 70 Interest 24 24 23 22 21 20 20 18 18 17 Bilateral creditors Disbursements 9 7 4 3 2 1 1 1 0 0 Principal 22 22 21 17 17 20 19 18 18 19 Interest 8 7 7 7 7 6 6 6 5 5 Multilateral creditors Disbursements 81 83 65 53 42 28 20 12 8 5 Principal 35 38 40 40 41 42 45 47 50 52 Interest 16 16 16 15 15 14 14 13 12 12 Private creditors Disbursements 1 1 0 0 0 0 0 0 0 0 Principal 1 1 1 1 1 1 1 1 0 0 Interest 1 0 0 0 0 0 0 0 0 0 Commercial banks Disbursements 1 1 0 0 0 0 0 0 0 0 Principal 1 1 1 1 1 1 1 1 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 0 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 352 MAURITIUS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 32 467 984 1,837 1,856 1,847 1,720 1,723 1,808 2,550 Long-term debt (LDOD) 32 318 910 1,341 1,283 1,274 953 851 916 1,000 Public and publicly guaranteed 32 294 762 1,152 1,126 1,138 834 764 837 927 Private nonguaranteed 0 24 147 189 157 136 118 87 79 72 Use of IMF credit 0 102 22 0 0 0 0 0 0 0 Short-term debt 0 47 52 496 573 573 767 872 892 1,550 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 0 201 286 94 81 40 24 16 26 TOTAL DEBT FLOWS Disbursements 2 143 161 193 60 145 132 71 177 112 Long-term debt 2 97 161 193 60 145 132 71 177 112 IMF purchases 0 46 0 0 0 0 0 0 0 0 Principal repayments 5 19 103 136 153 107 402 133 186 141 Long-term debt 1 19 60 136 153 107 402 133 186 141 IMF repurchases 4 0 44 0 0 0 0 0 0 0 Net flows on debt -3 104 76 134 -16 38 -75 43 11 629 of which short-term debt 0 -20 18 77 77 0 194 106 20 658 Interest payments (INT) 2 34 52 87 89 84 84 69 65 94 Long-term debt 2 23 43 63 62 56 52 38 35 37 IMF charges 0 3 5 0 0 0 0 0 0 0 Short-term debt 0 8 5 23 27 27 32 31 30 58 Net transfers on debt -5 70 23 47 -105 -46 -159 -26 -54 535 Total debt service paid (TDS) 7 52 156 223 242 191 485 202 251 235 Long-term debt 3 41 103 199 215 163 453 170 221 177 IMF repurchases and charges 4 3 48 0 0 0 0 0 0 0 Short-term debt (interest only) 0 8 5 23 27 27 32 31 30 58 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5 93 167 158 -63 84 2 -87 41 55 Net flow of long-term debt (ex. IMF) 1 79 101 57 -93 38 -269 -62 -9 -29 Foreign direct investment (net) 2 1 41 55 12 49 266 -28 32 63 Portfolio equity flows 0 0 0 31 5 -15 -4 -9 -1 8 Grants (excluding technical coop.) 3 13 25 15 13 12 9 11 19 13 Memo: technical coop. grants 2 11 20 23 18 18 16 16 18 21 official net resource flows 4 45 82 12 10 7 0 -23 80 -34 private net resource flows 1 48 85 146 -73 77 1 -64 -39 88 NET TRANSFERS 4 69 102 87 -138 23 -58 -130 -4 -5 Interest on long-term debt 2 23 43 63 62 56 52 38 35 37 Profit remittances on FDI 0 1 23 8 13 4 8 5 10 24 Memo: official net transfers 3 37 49 -17 -17 -19 -22 -44 60 -56 private net transfers 0 32 53 104 -121 42 -36 -86 -64 51 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 1,130 2,363 4,350 4,119 4,152 4,389 4,538 4,534 5,222 Exports of goods, serv. & inc. (XGS) .. 579 1,778 2,541 2,634 2,668 2,671 2,925 3,030 3,266 Worker remit. & comp. of employees 0 0 0 168 180 178 177 215 215 215 Imports of goods & services (MGS) .. 718 1,994 2,757 2,726 2,896 2,772 2,717 2,872 3,200 International reserves (RES) 46 113 761 711 577 749 914 853 1,249 1,603 Current account balance .. -117 -119 -89 3 -124 -37 276 249 122 4. DEBT INDICATORS EDT / XGS (%) .. 80.8 55.3 72.3 70.5 69.2 64.4 58.9 59.7 78.1 EDT / GNI (%) .. 41.3 41.6 42.2 45.1 44.5 39.2 38.0 39.9 48.8 TDS / XGS (%) .. 9.0 8.8 8.8 9.2 7.1 18.2 6.9 8.3 7.2 INT / XGS (%) .. 5.8 2.9 3.4 3.4 3.1 3.1 2.4 2.1 2.9 INT / GNI (%) .. 3.0 2.2 2.0 2.2 2.0 1.9 1.5 1.4 1.8 RES / EDT (%) 145.5 24.1 77.4 38.7 31.1 40.5 53.2 49.5 69.0 62.9 RES / MGS (months) .. 1.9 4.6 3.1 2.5 3.1 4.0 3.8 5.2 6.0 Short-term / EDT (%) 0.0 10.1 5.3 27.0 30.9 31.0 44.6 50.6 49.3 60.8 Concessional / EDT (%) 17.4 13.8 35.7 18.8 19.1 17.1 17.4 15.9 16.5 13.1 Multilateral / EDT (%) 17.8 16.6 31.6 13.3 14.0 13.5 12.9 11.1 15.5 11.1 353 MAURITIUS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 32 318 910 1,341 1,283 1,274 953 851 916 1,000 Public and publicly guaranteed 32 294 762 1,152 1,126 1,138 834 764 837 927 Official creditors 21 154 647 554 581 541 500 440 597 617 Multilateral 6 78 311 245 261 249 221 191 281 282 Concessional 0 25 64 60 60 60 64 56 67 76 Bilateral 16 76 336 310 321 292 279 249 316 335 Concessional 6 39 288 285 294 256 236 218 232 257 Private creditors 10 141 115 598 545 597 334 325 240 310 Bonds 8 0 0 150 150 150 0 0 0 0 Commercial banks 2 138 102 392 342 400 324 281 189 255 Other private 0 3 13 56 52 47 10 43 52 55 Private nonguaranteed 0 24 147 189 157 136 118 87 79 72 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 24 147 189 157 136 118 87 79 72 Memo: IBRD 6 35 176 111 112 107 86 71 94 85 IDA 0 20 19 15 15 14 13 13 12 12 DISBURSEMENTS 2 97 161 193 60 145 132 71 177 112 Public and publicly guaranteed 2 93 104 182 56 144 123 62 166 102 Official creditors 2 36 96 75 49 48 47 26 134 32 Multilateral 0 18 23 42 32 23 22 8 108 11 Concessional 0 3 7 3 1 9 9 3 11 7 Bilateral 2 18 74 33 18 24 26 18 26 22 Concessional 1 13 65 27 12 10 16 18 11 21 Private creditors 0 56 8 107 7 96 76 36 32 70 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 56 0 87 7 96 76 0 28 70 Other private 0 0 7 20 0 0 0 36 5 0 Private nonguaranteed 0 4 57 11 4 1 9 8 11 10 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 4 57 11 4 1 9 8 11 10 Memo: IBRD 0 7 6 17 13 5 4 4 41 0 IDA 0 1 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 1 19 60 136 153 107 402 133 186 141 Public and publicly guaranteed 1 15 44 112 117 94 386 102 158 118 Official creditors 1 5 39 78 52 53 56 60 72 78 Multilateral 0 2 22 31 29 30 34 25 35 31 Concessional 0 0 3 3 4 4 4 4 4 4 Bilateral 0 3 17 48 24 22 21 35 37 47 Concessional 0 1 12 44 19 19 19 24 26 30 Private creditors 1 9 4 34 65 42 330 41 86 40 Bonds 0 0 0 0 0 0 150 0 0 0 Commercial banks 1 8 4 19 57 33 146 39 83 36 Other private 0 1 0 15 8 8 34 2 3 4 Private nonguaranteed 0 4 16 24 36 13 16 31 28 23 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 4 16 24 36 13 16 31 28 23 Memo: IBRD 0 2 16 21 19 18 18 12 22 13 IDA 0 0 0 1 1 1 1 1 1 1 NET FLOWS ON DEBT 1 79 101 57 -93 38 -269 -62 -9 -29 Public and publicly guaranteed 1 78 60 70 -61 49 -263 -40 8 -16 Official creditors 1 31 57 -3 -3 -5 -8 -34 62 -46 Multilateral 0 16 0 12 3 -7 -13 -17 73 -21 Concessional 0 3 4 0 -3 5 5 -1 7 3 Bilateral 2 15 56 -15 -6 2 4 -18 -11 -26 Concessional 0 11 53 -17 -7 -9 -3 -6 -15 -9 Private creditors -1 47 3 73 -58 55 -254 -5 -54 31 Bonds 0 0 0 0 0 0 -150 0 0 0 Commercial banks -1 48 -4 68 -50 63 -70 -39 -55 34 Other private 0 -1 7 5 -8 -8 -34 34 2 -4 Private nonguaranteed 0 0 41 -13 -32 -12 -6 -23 -17 -13 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 41 -13 -32 -12 -6 -23 -17 -13 Memo: IBRD 0 5 -10 -4 -6 -12 -14 -8 20 -13 IDA 0 1 0 -1 -1 -1 -1 -1 -1 -1 354 MAURITIUS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 2 23 43 63 62 56 52 38 35 37 Public and publicly guaranteed 2 20 37 61 61 55 51 37 34 35 Official creditors 1 7 33 29 28 26 23 21 20 23 Multilateral 0 4 19 13 12 11 9 8 7 7 Concessional 0 0 1 1 1 1 1 1 1 1 Bilateral 1 3 14 16 16 14 14 13 13 16 Concessional 0 1 9 14 14 13 11 10 10 11 Private creditors 1 13 4 32 34 30 29 16 14 13 Bonds 1 0 0 10 10 9 5 0 0 0 Commercial banks 0 13 3 20 21 18 22 15 12 11 Other private 0 0 1 2 3 2 2 0 2 2 Private nonguaranteed 0 2 6 2 1 1 1 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 2 6 2 1 1 1 1 1 1 Memo: IBRD 0 3 14 8 7 6 5 4 3 2 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -1 56 58 -6 -155 -18 -321 -100 -44 -65 Public and publicly guaranteed -1 58 23 9 -122 -6 -314 -76 -26 -51 Official creditors 1 24 24 -32 -31 -31 -31 -55 41 -69 Multilateral -1 12 -19 -2 -9 -18 -22 -25 66 -27 Concessional 0 3 3 -1 -3 4 4 -2 6 2 Bilateral 1 12 43 -31 -22 -13 -9 -30 -24 -41 Concessional 0 11 44 -31 -21 -22 -13 -16 -26 -20 Private creditors -1 34 -1 41 -91 25 -283 -21 -67 18 Bonds -1 0 0 -10 -10 -9 -155 0 0 0 Commercial banks -1 35 -7 48 -71 45 -92 -55 -67 23 Other private 0 -1 7 3 -10 -11 -36 34 0 -6 Private nonguaranteed 0 -2 35 -15 -33 -12 -7 -24 -18 -14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 -2 35 -15 -33 -12 -7 -24 -18 -14 Memo: IBRD -1 2 -24 -12 -13 -19 -19 -12 17 -14 IDA 0 1 0 -1 -1 -1 -1 -1 -1 -1 DEBT SERVICE (LTDS) 3 41 103 199 215 163 453 170 221 177 Public and publicly guaranteed 3 35 81 173 178 150 437 138 192 153 Official creditors 2 12 72 107 80 79 78 81 93 101 Multilateral 1 6 42 44 40 42 43 33 42 38 Concessional 0 0 3 4 4 5 5 5 5 5 Bilateral 1 6 31 64 39 37 35 48 51 63 Concessional 0 2 21 58 33 32 30 34 37 41 Private creditors 1 22 8 66 98 71 359 57 100 52 Bonds 1 0 0 10 10 9 155 0 0 0 Commercial banks 1 21 7 39 77 52 168 55 95 47 Other private 0 1 1 17 10 11 36 3 5 6 Private nonguaranteed 0 6 22 26 37 14 16 32 28 24 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 6 22 26 37 14 16 32 28 24 Memo: IBRD 1 4 30 29 25 24 23 16 24 14 IDA 0 0 0 1 1 1 1 1 1 1 UNDISBURSED DEBT 15 175 245 333 310 260 217 362 416 413 Official creditors 15 171 232 282 264 218 181 294 389 386 Private creditors 0 3 13 51 46 42 36 68 27 27 Memorandum items Concessional LDOD 6 65 351 345 354 316 299 274 299 333 Variable rate LDOD 2 149 281 732 675 641 397 348 378 427 Public sector LDOD 32 294 762 1,152 1,126 1,138 834 764 837 927 Private sector LDOD 0 24 147 189 157 136 118 87 79 72 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 36.8 53.5 55.0 Deutsche mark 0.0 0.0 6.3 1.3 1.2 0.9 0.9 .. .. .. French franc 0.0 14.2 23.7 18.5 19.5 16.1 20.0 .. .. .. Japanese yen 0.0 0.0 1.0 4.3 4.9 5.1 2.6 2.4 2.3 4.1 Pound sterling 82.2 18.4 8.7 1.5 1.4 1.3 1.7 1.7 1.5 1.3 Swiss franc 0.0 0.0 0.5 0.1 0.2 0.3 0.3 0.3 0.3 0.3 U.S.dollars 0.0 46.0 14.4 51.1 55.3 53.7 46.3 43.5 23.3 21.6 Multiple currency 17.8 13.3 25.1 11.7 5.3 5.0 6.2 6.1 4.5 4.2 Special drawing rights 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.3 All other currencies 0.0 8.1 20.3 11.6 12.1 17.6 22.0 9.1 14.5 13.1 355 MAURITIUS (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 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 20 19 -9 -128 4 85 741 Net flows on debt -3 104 76 134 -16 38 -75 43 11 629 Net change in interest arrears .. .. 2 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 .. .. 40 -72 24 -27 -42 -23 59 96 Residual .. .. 20 -42 11 -19 -10 -17 15 17 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 10.6 6.0 6.7 3.2 4.5 6.4 3.9 2.8 2.5 Maturity (years) 24.2 13.6 17.9 11.0 22.5 13.8 6.1 13.6 11.6 7.7 Grace period (years) 1.7 4.2 6.3 1.0 6.6 1.9 2.7 3.4 2.9 1.2 Grant element (%) 64.6 7.3 26.7 12.9 49.7 26.4 13.8 32.2 32.6 22.4 Official creditors Interest (%) 0.0 5.2 6.0 5.8 3.0 4.5 3.9 3.7 2.7 0.0 Maturity (years) 24.2 19.6 17.9 16.9 22.6 17.3 15.7 14.7 11.9 19.1 Grace period (years) 1.7 5.4 6.3 4.0 6.8 4.1 4.7 4.1 3.2 10.1 Grant element (%) 64.6 30.6 26.7 23.2 51.2 33.4 36.5 35.3 34.1 74.1 Private creditors Interest (%) 0.0 18.4 0.0 6.9 6.8 4.5 7.5 4.2 3.8 2.6 Maturity (years) 0.0 5.0 0.0 9.8 21.8 11.9 1.9 11.1 8.8 7.3 Grace period (years) 0.0 2.5 0.0 0.5 2.8 0.6 1.9 1.8 0.5 0.9 Grant element (%) 0.0 -26.5 0.0 10.8 20.8 22.4 3.7 24.8 21.4 20.7 Memorandum items Commitments 14 111 137 156 50 145 101 233 242 73 Official creditors 14 66 137 26 47 53 31 165 215 2 Private creditors 0 45 0 130 3 92 70 68 28 70 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 144 106 56 35 20 13 8 4 3 0 Principal 200 171 169 151 129 117 98 77 58 41 Interest 39 34 29 24 19 15 12 9 7 5 Official creditors Disbursements 127 99 53 35 20 13 8 4 3 0 Principal 106 106 107 93 97 85 71 57 50 33 Interest 24 22 20 17 15 12 10 8 6 5 Bilateral creditors Disbursements 46 40 27 18 11 8 6 4 3 0 Principal 63 65 65 47 47 45 42 31 26 12 Interest 16 14 12 10 8 6 5 3 2 2 Multilateral creditors Disbursements 81 59 27 17 8 5 2 0 0 0 Principal 44 41 43 45 50 40 29 26 24 21 Interest 8 8 8 8 7 6 5 4 4 3 Private creditors Disbursements 17 7 3 0 0 0 0 0 0 0 Principal 94 65 62 58 32 31 26 20 8 8 Interest 15 12 9 6 4 3 2 1 1 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 64 38 39 40 18 18 15 11 4 4 Interest 10 8 6 4 3 2 1 1 0 0 Other private Disbursements 17 7 3 0 0 0 0 0 0 0 Principal 30 27 23 18 15 14 11 9 4 4 Interest 5 4 3 2 1 1 1 0 0 0 356 MEXICO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 6,969 57,378 104,442 147,632 158,974 166,463 150,313 145,674 140,164 140,004 Long-term debt (LDOD) 5,967 41,215 81,809 110,684 124,273 137,928 131,381 131,118 130,264 130,826 Public and publicly guaranteed 3,197 33,915 75,974 83,302 87,045 87,911 81,488 77,027 76,326 77,473 Private nonguaranteed 2,770 7,300 5,835 27,382 37,228 50,017 49,893 54,091 53,938 53,353 Use of IMF credit 0 0 6,551 9,088 8,380 4,473 0 0 0 0 Short-term debt 1,002 16,163 16,082 27,860 26,321 24,062 18,932 14,556 9,900 9,178 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 14,588 3,932 4,251 3,948 3,735 3,417 3,727 TOTAL DEBT FLOWS Disbursements 1,375 11,581 14,229 27,753 28,558 32,443 33,150 35,857 27,436 28,546 Long-term debt 1,375 11,581 12,045 27,753 28,558 31,028 31,956 35,857 27,436 28,546 IMF purchases 0 0 2,184 0 0 1,414 1,194 0 0 0 Principal repayments 1,017 4,894 4,012 30,662 18,050 23,331 44,445 34,683 31,452 29,995 Long-term debt 1,017 4,760 2,821 27,223 16,986 18,235 38,952 34,683 31,452 29,995 IMF repurchases 0 134 1,191 3,439 1,063 5,096 5,493 0 0 0 Net flows on debt 358 14,825 17,637 -4,887 8,969 6,852 -16,426 -3,201 -8,672 -2,170 of which short-term debt 0 8,139 7,420 -1,978 -1,539 -2,259 -5,130 -4,376 -4,656 -722 Interest payments (INT) 283 6,068 7,301 11,080 11,087 11,978 14,028 12,622 11,126 10,671 Long-term debt 283 4,580 5,797 8,366 8,889 9,778 11,983 11,785 10,626 10,331 IMF charges 0 4 522 482 423 276 153 0 0 0 Short-term debt 0 1,484 982 2,231 1,774 1,924 1,892 837 500 340 Net transfers on debt 75 8,757 10,336 -15,967 -2,118 -5,126 -30,453 -15,824 -19,798 -12,841 Total debt service paid (TDS) 1,301 10,962 11,313 41,742 29,137 35,310 58,473 47,305 42,578 40,665 Long-term debt 1,301 9,340 8,618 35,589 25,876 28,014 50,935 46,468 42,078 40,325 IMF repurchases and charges 0 138 1,712 3,922 1,487 5,372 5,646 0 0 0 Short-term debt (interest only) 0 1,484 982 2,231 1,774 1,924 1,892 837 500 340 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 689 8,925 13,822 16,613 23,313 29,783 10,071 28,188 10,698 9,237 Net flow of long-term debt (ex. IMF) 358 6,821 9,224 530 11,571 12,793 -6,996 1,174 -4,016 -1,448 Foreign direct investment (net) 323 2,090 2,549 12,830 12,346 13,190 16,598 26,843 14,775 10,783 Portfolio equity flows 0 0 1,995 3,215 -666 3,769 447 151 -104 -123 Grants (excluding technical coop.) 8 14 54 37 61 31 23 20 43 25 Memo: technical coop. grants 6 44 81 101 110 105 111 121 179 160 official net resource flows 149 809 4,222 -4,531 -744 -1,639 -503 -650 289 -304 private net resource flows 540 8,116 9,601 21,143 24,057 31,421 10,574 28,838 10,409 9,541 NET TRANSFERS 405 2,979 5,721 4,471 9,173 16,472 -7,834 10,973 -3,145 -4,676 Interest on long-term debt 283 4,580 5,797 8,366 8,889 9,778 11,983 11,785 10,626 10,331 Profit remittances on FDI 0 1,366 2,304 3,775 5,251 3,533 5,923 5,431 3,218 3,582 Memo: official net transfers 89 495 2,844 -6,186 -2,260 -3,193 -2,055 -2,078 -937 -1,391 private net transfers 316 2,484 2,877 10,657 11,433 19,665 -5,779 13,050 -2,208 -3,285 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 34,919 187,919 254,084 388,691 407,948 468,162 566,492 608,285 636,101 613,272 Exports of goods, serv. & inc. (XGS) .. 24,685 54,570 130,910 139,656 158,510 192,831 185,137 187,367 194,703 Worker remit. & comp. of employees 0 1,039 3,098 5,546 6,501 6,649 7,596 9,918 11,029 14,595 Imports of goods & services (MGS) .. 35,243 63,504 138,958 156,114 172,925 211,440 203,750 201,594 204,101 International reserves (RES) 756 4,175 10,217 28,852 31,863 31,828 35,577 44,805 50,671 59,027 Current account balance .. -10,422 -7,451 -7,665 -16,073 -14,011 -18,188 -18,170 -13,772 -8,936 4. DEBT INDICATORS EDT / XGS (%) .. 232.4 191.4 112.8 113.8 105.0 78.0 78.7 74.8 71.9 EDT / GNI (%) 20.0 30.5 41.1 38.0 39.0 35.6 26.5 23.9 22.0 22.8 TDS / XGS (%) .. 44.4 20.7 31.9 20.9 22.3 30.3 25.6 22.7 20.9 INT / XGS (%) .. 24.6 13.4 8.5 7.9 7.6 7.3 6.8 5.9 5.5 INT / GNI (%) 0.8 3.2 2.9 2.9 2.7 2.6 2.5 2.1 1.7 1.7 RES / EDT (%) 10.8 7.3 9.8 19.5 20.0 19.1 23.7 30.8 36.2 42.2 RES / MGS (months) .. 1.4 1.9 2.5 2.4 2.2 2.0 2.6 3.0 3.5 Short-term / EDT (%) 14.4 28.2 15.4 18.9 16.6 14.5 12.6 10.0 7.1 6.6 Concessional / EDT (%) 2.8 0.5 0.8 0.9 0.9 0.8 0.8 0.8 0.9 0.9 Multilateral / EDT (%) 10.7 5.6 13.7 11.1 10.7 10.0 11.5 11.5 12.5 12.8 357 MEXICO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 5,967 41,215 81,809 110,684 124,273 137,928 131,381 131,118 130,264 130,826 Public and publicly guaranteed 3,197 33,915 75,974 83,302 87,045 87,911 81,488 77,027 76,326 77,473 Official creditors 1,150 4,481 22,621 22,978 23,056 21,821 20,838 19,852 20,524 20,595 Multilateral 749 3,189 14,302 16,432 17,081 16,675 17,238 16,751 17,506 17,891 Concessional 74 193 60 7 4 1 0 0 0 0 Bilateral 401 1,291 8,318 6,546 5,975 5,146 3,601 3,101 3,018 2,704 Concessional 123 120 822 1,366 1,404 1,382 1,185 1,100 1,299 1,265 Private creditors 2,047 29,434 53,353 60,324 63,989 66,089 60,650 57,174 55,802 56,878 Bonds 386 3,100 40,100 51,674 53,185 56,440 52,212 49,914 48,293 48,868 Commercial banks 1,267 25,637 6,630 5,478 8,228 7,070 5,818 5,576 5,980 6,592 Other private 394 698 6,624 3,172 2,576 2,579 2,620 1,685 1,529 1,417 Private nonguaranteed 2,770 7,300 5,835 27,382 37,228 50,017 49,893 54,091 53,938 53,353 Bonds 0 0 150 15,810 16,546 18,157 20,644 20,181 19,079 18,607 Commercial banks and other 2,770 7,300 5,685 11,572 20,683 31,860 29,250 33,910 34,858 34,746 Memo: IBRD 582 2,063 11,030 11,356 11,514 11,027 11,444 10,883 10,797 10,717 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 1,375 11,581 12,045 27,753 28,558 31,028 31,956 35,857 27,436 28,546 Public and publicly guaranteed 772 9,131 9,985 15,338 13,221 9,728 10,850 13,546 8,942 12,465 Official creditors 229 1,081 5,454 1,751 2,188 1,495 2,849 1,637 2,623 2,436 Multilateral 161 642 3,647 1,512 1,898 1,325 2,534 1,388 2,244 2,276 Concessional 37 3 0 0 0 0 0 0 0 0 Bilateral 68 439 1,807 238 289 171 315 250 380 160 Concessional 9 16 636 39 19 9 4 10 231 99 Private creditors 543 8,050 4,532 13,587 11,033 8,233 8,001 11,909 6,319 10,030 Bonds 0 236 975 11,195 5,893 5,900 6,826 9,600 4,367 7,676 Commercial banks 432 7,625 2,552 2,036 4,780 1,818 1,004 2,135 1,810 2,148 Other private 111 189 1,004 356 359 515 171 174 142 205 Private nonguaranteed 603 2,450 2,060 12,415 15,337 21,300 21,106 22,311 18,494 16,081 Bonds 0 0 150 3,690 4,998 5,875 3,346 1,685 2,504 2,505 Commercial banks and other 603 2,450 1,910 8,725 10,339 15,424 17,760 20,626 15,991 13,576 Memo: IBRD 98 422 3,326 995 1,283 839 1,748 749 1,247 1,258 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 1,017 4,760 2,821 27,223 16,986 18,235 38,952 34,683 31,452 29,995 Public and publicly guaranteed 476 4,010 2,625 21,826 11,496 9,724 16,328 16,827 11,388 13,971 Official creditors 88 286 1,286 6,319 2,993 3,165 3,375 2,307 2,378 2,765 Multilateral 32 141 1,037 1,625 1,603 1,695 1,816 1,648 1,733 2,131 Concessional 0 12 13 5 3 2 1 0 0 0 Bilateral 56 145 249 4,693 1,391 1,470 1,559 659 644 634 Concessional 9 12 0 81 78 92 107 95 118 132 Private creditors 388 3,724 1,339 15,508 8,502 6,559 12,953 14,520 9,011 11,206 Bonds 16 123 464 12,462 5,173 1,819 9,256 10,788 6,688 8,428 Commercial banks 266 3,445 185 2,103 2,300 4,186 2,869 2,742 1,974 2,408 Other private 106 156 690 942 1,029 554 828 990 349 370 Private nonguaranteed 542 750 196 5,397 5,491 8,511 22,625 17,856 20,064 16,024 Bonds 0 0 0 1,950 3,291 4,264 3,552 2,148 4,082 2,985 Commercial banks and other 542 750 196 3,447 2,200 4,247 19,072 15,708 15,983 13,039 Memo: IBRD 23 89 801 1,311 1,257 1,323 1,330 1,309 1,334 1,338 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 358 6,821 9,224 530 11,571 12,793 -6,996 1,174 -4,016 -1,448 Public and publicly guaranteed 297 5,121 7,360 -6,489 1,725 4 -5,477 -3,280 -2,446 -1,505 Official creditors 141 795 4,168 -4,568 -805 -1,670 -526 -670 246 -329 Multilateral 129 501 2,610 -113 296 -370 718 -260 511 145 Concessional 37 -9 -13 -5 -3 -2 -1 0 0 0 Bilateral 12 294 1,558 -4,455 -1,101 -1,299 -1,244 -410 -265 -474 Concessional 0 5 635 -41 -59 -84 -103 -85 113 -33 Private creditors 156 4,326 3,193 -1,921 2,531 1,674 -4,951 -2,610 -2,692 -1,176 Bonds -16 112 511 -1,267 720 4,081 -2,429 -1,188 -2,320 -752 Commercial banks 166 4,180 2,367 -67 2,480 -2,368 -1,864 -607 -164 -259 Other private 6 33 314 -586 -670 -39 -657 -816 -207 -165 Private nonguaranteed 61 1,700 1,864 7,019 9,846 12,788 -1,519 4,455 -1,570 57 Bonds 0 0 150 1,740 1,708 1,611 -206 -463 -1,578 -480 Commercial banks and other 61 1,700 1,714 5,278 8,138 11,177 -1,313 4,918 8 537 Memo: IBRD 76 333 2,524 -316 26 -484 418 -561 -86 -80 IDA 0 0 0 0 0 0 0 0 0 0 358 MEXICO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 283 4,580 5,797 8,366 8,889 9,778 11,983 11,785 10,626 10,331 Public and publicly guaranteed 216 3,880 5,215 6,211 5,893 6,137 7,763 7,333 6,388 6,453 Official creditors 60 314 1,378 1,655 1,516 1,555 1,552 1,428 1,226 1,087 Multilateral 39 236 1,005 1,163 1,142 1,213 1,275 1,252 1,109 994 Concessional 2 7 2 0 0 0 0 0 0 0 Bilateral 21 78 373 492 374 342 278 176 118 93 Concessional 4 5 8 51 44 46 44 39 35 34 Private creditors 156 3,565 3,838 4,556 4,377 4,583 6,211 5,905 5,161 5,366 Bonds 27 252 1,112 3,948 3,824 3,950 4,283 4,106 4,036 4,127 Commercial banks 106 3,261 2,195 372 375 485 1,333 1,221 1,055 1,187 Other private 24 52 531 236 177 147 595 578 70 53 Private nonguaranteed 67 700 582 2,155 2,997 3,641 4,220 4,452 4,238 3,877 Bonds 0 0 0 1,251 1,494 1,461 1,620 1,752 1,540 1,363 Commercial banks and other 67 700 582 904 1,503 2,180 2,600 2,700 2,698 2,515 Memo: IBRD 31 166 751 791 767 832 890 864 737 613 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 75 2,241 3,427 -7,836 2,682 3,014 -18,979 -10,611 -14,642 -11,779 Public and publicly guaranteed 81 1,241 2,145 -12,700 -4,168 -6,133 -13,240 -10,614 -8,834 -7,958 Official creditors 81 481 2,790 -6,223 -2,322 -3,224 -2,079 -2,098 -981 -1,416 Multilateral 90 264 1,605 -1,276 -846 -1,583 -557 -1,512 -598 -849 Concessional 35 -16 -15 -5 -3 -2 -1 0 0 0 Bilateral -9 216 1,185 -4,948 -1,475 -1,641 -1,522 -586 -383 -567 Concessional -4 0 627 -92 -103 -130 -147 -124 77 -66 Private creditors -1 760 -645 -6,476 -1,846 -2,909 -11,162 -8,516 -7,853 -6,543 Bonds -42 -140 -601 -5,215 -3,104 130 -6,712 -5,294 -6,357 -4,879 Commercial banks 60 919 172 -440 2,105 -2,853 -3,197 -1,828 -1,219 -1,446 Other private -18 -19 -217 -822 -847 -186 -1,252 -1,394 -277 -218 Private nonguaranteed -6 1,000 1,282 4,863 6,849 9,147 -5,739 3 -5,808 -3,820 Bonds 0 0 150 489 214 150 -1,826 -2,215 -3,118 -1,843 Commercial banks and other -6 1,000 1,132 4,374 6,635 8,997 -3,913 2,218 -2,690 -1,977 Memo: IBRD 45 167 1,773 -1,107 -741 -1,316 -472 -1,425 -824 -693 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 1,301 9,340 8,618 35,589 25,876 28,014 50,935 46,468 42,078 40,325 Public and publicly guaranteed 692 7,890 7,840 28,037 17,388 15,861 24,091 24,160 17,776 20,424 Official creditors 148 601 2,664 7,974 4,509 4,720 4,927 3,735 3,604 3,852 Multilateral 71 378 2,042 2,788 2,745 2,908 3,091 2,900 2,842 3,125 Concessional 2 18 15 5 3 2 1 0 0 0 Bilateral 77 223 622 5,186 1,765 1,812 1,837 835 762 727 Concessional 14 16 9 132 122 139 151 134 154 166 Private creditors 544 7,289 5,177 20,064 12,879 11,142 19,163 20,425 14,172 16,572 Bonds 42 376 1,576 16,410 8,998 5,770 13,538 14,894 10,724 12,555 Commercial banks 372 6,706 2,380 2,476 2,675 4,670 4,202 3,963 3,029 3,594 Other private 130 208 1,221 1,178 1,206 702 1,423 1,568 420 423 Private nonguaranteed 609 1,450 778 7,552 8,488 12,152 26,844 22,308 24,302 19,902 Bonds 0 0 0 3,201 4,784 5,725 5,172 3,900 5,622 4,348 Commercial banks and other 609 1,450 778 4,351 3,703 6,427 21,672 18,408 18,681 15,554 Memo: IBRD 54 255 1,553 2,102 2,024 2,155 2,220 2,173 2,071 1,951 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 557 4,817 8,114 11,473 16,812 15,839 13,834 17,198 17,183 17,558 Official creditors 438 2,976 5,140 5,921 5,699 7,333 6,586 6,160 6,790 4,564 Private creditors 118 1,841 2,974 5,552 11,112 8,506 7,248 11,038 10,393 12,994 Memorandum items Concessional LDOD 196 313 883 1,373 1,408 1,384 1,185 1,100 1,299 1,265 Variable rate LDOD 2,951 31,271 40,382 55,585 69,166 81,413 76,306 77,839 76,934 77,185 Public sector LDOD 3,165 33,249 75,595 83,098 86,867 87,806 81,392 76,954 76,268 77,430 Private sector LDOD 2,801 7,966 6,214 27,587 37,406 50,122 49,989 54,164 53,996 53,396 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 1.1 1.2 0.5 Deutsche mark 11.2 4.3 3.7 4.8 4.8 3.7 1.6 .. .. .. French franc 7.7 1.2 3.8 2.3 2.2 1.7 0.8 .. .. .. Japanese yen 0.5 1.4 6.3 8.7 8.3 8.5 7.6 6.5 4.9 5.1 Pound sterling 1.1 0.5 1.4 1.3 1.0 0.8 0.2 0.2 0.2 0.2 Swiss franc 3.4 2.0 0.6 0.3 0.3 0.2 0.0 0.2 0.2 0.2 U.S.dollars 51.2 78.7 64.3 64.2 75.5 77.4 85.0 88.1 89.7 91.1 Multiple currency 21.9 9.9 18.6 16.0 4.6 4.2 3.8 3.6 3.3 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 2.9 2.0 1.2 2.4 3.4 3.4 1.0 0.4 0.4 0.0 359 MEXICO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 36,950 0 0 0 0 0 23 26 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 0 0 0 7,122 8,832 2,172 0 of which debt buyback .. .. 0 0 0 0 6,644 8,400 2,172 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 10,601 -8,623 11,342 7,489 -16,150 -4,639 -5,511 -160 Net flows on debt 358 14,825 17,637 -4,887 8,969 6,852 -16,426 -3,201 -8,672 -2,170 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 0 0 0 -478 -431 0 0 Cross-currency valuation .. .. 3,254 -3,982 1,852 -1,206 -2,376 -982 981 977 Residual .. .. -2,349 246 521 1,843 3,130 -24 2,181 1,033 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 8.1 11.3 8.6 7.3 7.5 7.7 7.7 5.9 5.5 5.0 Maturity (years) 11.6 9.9 13.4 9.9 14.8 8.9 10.6 12.8 16.1 12.8 Grace period (years) 3.4 4.3 5.4 6.9 5.5 6.2 7.9 11.1 10.9 12.1 Grant element (%) 9.9 -5.7 7.3 12.2 10.1 9.7 10.4 17.4 24.6 24.2 Official creditors Interest (%) 6.7 8.0 7.8 7.0 6.4 5.7 5.4 5.6 4.1 2.6 Maturity (years) 18.5 15.3 15.6 14.6 15.6 14.9 14.7 18.6 17.9 13.5 Grace period (years) 4.0 3.3 4.5 4.4 3.5 6.6 4.8 4.9 4.8 7.2 Grant element (%) 19.4 10.1 12.3 16.0 19.5 25.7 26.8 25.7 34.6 43.1 Private creditors Interest (%) 8.9 12.6 9.4 7.3 7.6 8.5 8.5 5.9 6.4 5.1 Maturity (years) 7.1 7.7 11.5 9.2 14.6 6.5 9.2 12.1 15.0 12.8 Grace period (years) 3.1 4.7 6.1 7.3 5.7 6.1 9.0 11.9 14.8 12.4 Grant element (%) 3.6 -12.0 2.9 11.6 8.8 3.3 4.6 16.4 18.2 23.1 Memorandum items Commitments 858 7,632 12,484 15,297 19,292 11,420 10,224 17,862 9,350 17,687 Official creditors 338 2,187 5,918 1,903 2,359 3,270 2,652 1,964 3,640 956 Private creditors 520 5,445 6,567 13,394 16,933 8,151 7,572 15,898 5,710 16,731 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 14,294 1,374 682 477 323 202 122 49 26 8 Principal 24,791 18,588 16,584 11,942 16,035 9,433 6,301 5,465 4,620 6,438 Interest 9,766 8,189 7,174 6,091 5,268 4,125 3,498 3,017 2,723 2,416 Official creditors Disbursements 1,526 1,200 649 466 319 200 120 48 25 7 Principal 2,721 2,569 2,599 2,164 1,984 2,731 1,486 1,819 1,456 1,723 Interest 1,004 898 780 661 565 484 382 316 255 203 Bilateral creditors Disbursements 345 184 79 33 11 4 2 0 0 0 Principal 811 546 413 189 199 170 156 147 140 99 Interest 98 73 54 42 38 33 29 25 22 18 Multilateral creditors Disbursements 1,182 1,016 570 434 307 196 118 48 25 7 Principal 1,910 2,023 2,186 1,976 1,785 2,561 1,329 1,671 1,315 1,625 Interest 907 825 725 618 528 451 353 291 234 184 Private creditors Disbursements 12,768 174 33 10 4 2 2 1 0 0 Principal 22,070 16,019 13,984 9,778 14,051 6,701 4,816 3,646 3,165 4,715 Interest 8,762 7,291 6,395 5,430 4,702 3,641 3,116 2,701 2,468 2,213 Commercial banks Disbursements 3,805 106 8 2 2 1 1 0 0 0 Principal 1,213 5,866 1,076 626 351 226 218 211 204 195 Interest 203 175 77 49 38 32 26 20 15 11 Other private Disbursements 223 68 24 8 2 1 1 1 0 0 Principal 20,857 10,152 12,908 9,152 13,700 6,476 4,598 3,436 2,960 4,519 Interest 8,559 7,116 6,318 5,381 4,664 3,610 3,090 2,681 2,453 2,202 360 MOLDOVA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,077 1,067 1,022 1,693 1,641 1,805 1,901 Long-term debt (LDOD) .. .. .. 840 869 831 1,050 1,059 1,164 1,218 Public and publicly guaranteed .. .. .. 796 797 719 853 792 826 848 Private nonguaranteed .. .. .. 44 72 111 197 267 338 369 Use of IMF credit .. .. .. 233 177 175 154 146 152 143 Short-term debt .. .. .. 4 21 16 489 436 489 541 of which interest arrears on LDOD .. .. .. 0 14 15 22 13 37 46 Official creditors .. .. .. 0 5 7 0 1 0 3 Private creditors .. .. .. 0 9 8 21 12 37 43 Memo: principal arrears on LDOD .. .. .. 15 61 105 33 27 44 75 Official creditors .. .. .. 15 32 74 4 4 0 9 Private creditors .. .. .. 0 29 31 29 23 44 67 Memo: export credits .. .. .. 54 6 17 14 17 20 16 TOTAL DEBT FLOWS Disbursements .. .. .. 367 105 246 176 106 139 95 Long-term debt .. .. .. 347 105 177 164 94 127 95 IMF purchases .. .. .. 21 0 68 12 12 12 0 Principal repayments .. .. .. 82 146 152 82 107 185 110 Long-term debt .. .. .. 62 82 87 58 92 167 88 IMF repurchases .. .. .. 20 64 65 25 14 18 22 Net flows on debt .. .. .. 263 -38 88 560 -45 -17 28 of which short-term debt .. .. .. -22 3 -6 465 -44 29 43 Interest payments (INT) .. .. .. 51 55 58 68 68 59 50 Long-term debt .. .. .. 40 44 50 47 48 42 32 IMF charges .. .. .. 11 10 8 8 6 4 2 Short-term debt .. .. .. 0 0 0 14 13 13 15 Net transfers on debt .. .. .. 212 -93 30 491 -113 -76 -21 Total debt service paid (TDS) .. .. .. 133 201 210 151 175 244 159 Long-term debt .. .. .. 101 127 137 104 141 209 120 IMF repurchases and charges .. .. .. 31 74 73 33 21 21 24 Short-term debt (interest only) .. .. .. 0 0 0 14 13 13 15 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 379 124 156 276 159 110 110 Net flow of long-term debt (ex. IMF) .. .. .. 285 22 90 107 2 -40 8 Foreign direct investment (net) .. .. .. 79 76 38 129 100 117 58 Portfolio equity flows .. .. .. 4 7 5 3 3 2 1 Grants (excluding technical coop.) .. .. .. 12 20 23 37 54 32 43 Memo: technical coop. grants .. .. .. 16 18 45 44 41 76 54 official net resource flows .. .. .. 63 62 111 62 52 27 26 private net resource flows .. .. .. 316 63 45 214 107 83 84 NET TRANSFERS .. .. .. 337 73 95 218 81 38 50 Interest on long-term debt .. .. .. 40 44 50 47 48 42 32 Profit remittances on FDI .. .. .. 2 7 12 11 29 29 28 Memo: official net transfers .. .. .. 44 34 91 39 30 11 13 private net transfers .. .. .. 294 39 4 179 51 27 37 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 1,976 1,735 1,197 1,352 1,598 1,821 2,287 Exports of goods, serv. & inc. (XGS) .. .. .. 1,191 934 731 815 983 1,192 1,529 Worker remit. & comp. of employees .. .. .. 114 124 112 162 234 310 465 Imports of goods & services (MGS) .. .. .. 1,519 1,333 885 1,095 1,208 1,394 1,829 International reserves (RES) .. .. .. 366 144 186 222 229 269 302 Current account balance .. .. .. -275 -335 -68 -115 -68 -51 -142 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 90.4 114.3 139.8 207.8 167.0 151.4 124.3 EDT / GNI (%) .. .. .. 54.5 61.5 85.4 125.2 102.7 99.1 83.1 TDS / XGS (%) .. .. .. 11.1 21.5 28.7 18.5 17.8 20.5 10.4 INT / XGS (%) .. .. .. 4.3 5.9 7.9 8.4 6.9 4.9 3.2 INT / GNI (%) .. .. .. 2.6 3.2 4.8 5.1 4.3 3.2 2.2 RES / EDT (%) .. .. .. 34.0 13.5 18.2 13.1 13.9 14.9 15.9 RES / MGS (months) .. .. .. 2.9 1.3 2.5 2.4 2.3 2.3 2.0 Short-term / EDT (%) .. .. .. 0.4 2.0 1.6 28.9 26.5 27.1 28.4 Concessional / EDT (%) .. .. .. 13.0 14.2 18.4 12.2 12.6 14.6 16.1 Multilateral / EDT (%) .. .. .. 26.8 31.1 38.7 24.0 24.2 23.7 23.6 361 MOLDOVA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 840 869 831 1,050 1,059 1,164 1,218 Public and publicly guaranteed .. .. .. 796 797 719 853 792 826 848 Official creditors .. .. .. 475 521 595 534 513 555 582 Multilateral .. .. .. 289 332 395 406 397 428 448 Concessional .. .. .. 35 38 77 104 114 147 180 Bilateral .. .. .. 186 189 199 128 116 127 134 Concessional .. .. .. 106 113 111 102 93 116 126 Private creditors .. .. .. 322 276 125 319 279 271 266 Bonds .. .. .. 75 75 75 75 40 36 34 Commercial banks .. .. .. 78 32 30 12 12 7 9 Other private .. .. .. 169 169 20 232 228 228 223 Private nonguaranteed .. .. .. 44 72 111 197 267 338 369 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 44 72 111 197 267 338 369 Memo: IBRD .. .. .. 135 169 199 191 181 186 190 IDA .. .. .. 35 38 77 103 113 145 175 DISBURSEMENTS .. .. .. 347 105 177 164 94 127 95 Public and publicly guaranteed .. .. .. 307 62 111 54 30 36 24 Official creditors .. .. .. 68 60 102 52 30 36 24 Multilateral .. .. .. 59 46 86 50 30 35 22 Concessional .. .. .. 35 2 39 30 15 24 18 Bilateral .. .. .. 8 14 16 1 0 1 2 Concessional .. .. .. 0 10 0 0 0 1 2 Private creditors .. .. .. 239 2 8 2 0 0 0 Bonds .. .. .. 75 0 0 0 0 0 0 Commercial banks .. .. .. 22 2 8 0 0 0 0 Other private .. .. .. 143 0 0 2 0 0 0 Private nonguaranteed .. .. .. 40 43 67 110 64 91 71 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 40 43 67 110 64 91 71 Memo: IBRD .. .. .. 5 27 35 6 4 4 2 IDA .. .. .. 35 2 39 30 14 22 16 PRINCIPAL REPAYMENTS .. .. .. 62 82 87 58 92 167 88 Public and publicly guaranteed .. .. .. 48 67 53 30 61 85 47 Official creditors .. .. .. 16 18 14 27 32 41 41 Multilateral .. .. .. 1 3 10 22 24 32 36 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 15 16 5 5 8 9 4 Concessional .. .. .. 0 7 3 5 6 5 2 Private creditors .. .. .. 33 49 38 3 29 44 6 Bonds .. .. .. 0 0 0 0 25 44 2 Commercial banks .. .. .. 25 49 9 0 0 0 1 Other private .. .. .. 8 0 29 3 3 0 3 Private nonguaranteed .. .. .. 13 15 34 28 31 82 41 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 13 15 34 28 31 82 41 Memo: IBRD .. .. .. 0 1 4 5 7 9 11 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 285 22 90 107 2 -40 8 Public and publicly guaranteed .. .. .. 259 -5 58 24 -31 -49 -23 Official creditors .. .. .. 52 42 88 25 -2 -5 -17 Multilateral .. .. .. 59 43 77 29 6 3 -15 Concessional .. .. .. 35 2 39 30 15 24 18 Bilateral .. .. .. -7 -2 11 -4 -7 -8 -2 Concessional .. .. .. 0 3 -3 -5 -6 -5 1 Private creditors .. .. .. 207 -47 -30 -1 -29 -44 -6 Bonds .. .. .. 75 0 0 0 -25 -44 -2 Commercial banks .. .. .. -3 -47 -1 0 0 0 -1 Other private .. .. .. 135 0 -29 -1 -3 0 -3 Private nonguaranteed .. .. .. 26 27 32 82 33 8 30 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 26 27 32 82 33 8 30 Memo: IBRD .. .. .. 5 26 31 1 -3 -4 -9 IDA .. .. .. 35 2 39 30 14 22 16 362 MOLDOVA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 40 44 50 47 48 42 32 Public and publicly guaranteed .. .. .. 38 42 46 40 40 26 20 Official creditors .. .. .. 19 28 20 23 22 16 13 Multilateral .. .. .. 14 24 16 18 18 13 11 Concessional .. .. .. 0 0 0 1 1 1 1 Bilateral .. .. .. 6 3 4 5 4 3 2 Concessional .. .. .. 3 3 3 3 3 3 2 Private creditors .. .. .. 19 14 26 17 18 10 7 Bonds .. .. .. 4 7 7 7 7 2 2 Commercial banks .. .. .. 6 3 3 0 0 0 0 Other private .. .. .. 9 3 15 9 11 7 4 Private nonguaranteed .. .. .. 2 3 4 7 8 16 12 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 2 3 4 7 8 16 12 Memo: IBRD .. .. .. 9 9 11 11 10 8 7 IDA .. .. .. 0 0 0 1 1 1 1 NET TRANSFERS ON DEBT .. .. .. 245 -22 40 60 -47 -83 -25 Public and publicly guaranteed .. .. .. 221 -46 12 -16 -71 -75 -43 Official creditors .. .. .. 32 14 68 2 -24 -21 -30 Multilateral .. .. .. 45 19 61 11 -12 -10 -26 Concessional .. .. .. 35 2 39 30 14 23 17 Bilateral .. .. .. -13 -5 7 -8 -11 -11 -4 Concessional .. .. .. -3 1 -5 -8 -9 -8 -1 Private creditors .. .. .. 188 -60 -56 -18 -47 -54 -13 Bonds .. .. .. 71 -7 -7 -7 -33 -46 -4 Commercial banks .. .. .. -9 -50 -4 0 0 0 -2 Other private .. .. .. 126 -3 -45 -10 -14 -8 -7 Private nonguaranteed .. .. .. 25 25 28 76 24 -8 18 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 25 25 28 76 24 -8 18 Memo: IBRD .. .. .. -4 17 20 -10 -13 -12 -16 IDA .. .. .. 35 2 39 30 13 21 15 DEBT SERVICE (LTDS) .. .. .. 101 127 137 104 141 209 120 Public and publicly guaranteed .. .. .. 87 109 98 70 101 111 67 Official creditors .. .. .. 35 46 34 50 54 57 54 Multilateral .. .. .. 14 27 26 40 42 45 48 Concessional .. .. .. 0 0 0 1 1 1 1 Bilateral .. .. .. 21 19 9 10 12 12 6 Concessional .. .. .. 3 9 5 8 9 8 3 Private creditors .. .. .. 51 62 64 20 47 54 13 Bonds .. .. .. 4 7 7 7 33 46 4 Commercial banks .. .. .. 31 52 12 0 0 0 2 Other private .. .. .. 16 3 45 12 14 8 7 Private nonguaranteed .. .. .. 15 18 39 35 40 99 53 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 15 18 39 35 40 99 53 Memo: IBRD .. .. .. 9 10 15 16 17 17 18 IDA .. .. .. 0 0 0 1 1 1 1 UNDISBURSED DEBT .. .. .. 271 277 203 140 68 80 97 Official creditors .. .. .. 229 236 171 113 68 80 97 Private creditors .. .. .. 42 41 32 26 0 0 0 Memorandum items Concessional LDOD .. .. .. 140 151 188 206 207 263 306 Variable rate LDOD .. .. .. 461 476 527 523 569 696 723 Public sector LDOD .. .. .. 773 778 704 842 783 822 848 Private sector LDOD .. .. .. 68 90 126 208 277 342 370 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 10.0 10.5 10.3 Deutsche mark .. .. .. 5.1 5.7 6.5 4.9 .. .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 .. .. .. Japanese yen .. .. .. 3.8 4.2 4.9 3.4 3.0 2.9 3.0 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 .. .. .. 65.8 60.3 56.5 66.9 68.4 68.3 68.5 Multiple currency .. .. .. 17.0 20.9 23.6 18.7 18.5 17.9 17.7 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.1 0.3 0.6 All other currencies .. .. .. 8.4 8.8 8.4 6.0 0.0 0.0 0.0 363 MOLDOVA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 19 0 0 246 0 68 3 Debt stock rescheduled .. .. .. 0 0 0 19 0 9 0 Principal rescheduled .. .. .. 0 0 0 94 0 12 3 Official .. .. .. 0 0 0 76 0 1 0 Private .. .. .. 0 0 0 18 0 11 3 Interest rescheduled .. .. .. 0 0 0 6 0 2 0 Official .. .. .. 0 0 0 5 0 1 0 Private .. .. .. 0 0 0 0 0 1 0 Debt forgiven .. .. .. 0 0 119 0 0 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 3 0 35 0 0 of which debt buyback .. .. .. 0 0 0 0 25 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. .. 236 -11 -45 671 -52 164 96 Net flows on debt .. .. .. 263 -38 88 560 -45 -17 28 Net change in interest arrears .. .. .. 0 14 1 7 -9 24 9 Interest capitalized .. .. .. 0 0 0 6 0 2 0 Debt forgiveness or reduction .. .. .. 0 0 -123 0 -10 0 0 Cross-currency valuation .. .. .. -45 -5 -18 -32 -24 48 60 Residual .. .. .. 17 19 7 131 36 107 -1 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.1 5.7 0.5 1.1 0.8 0.8 0.8 Maturity (years) .. .. .. 17.8 17.8 34.6 35.4 36.1 39.9 39.9 Grace period (years) .. .. .. 6.3 5.5 10.1 9.4 9.2 10.4 10.4 Grant element (%) .. .. .. 29.8 31.7 80.7 74.8 78.0 80.8 80.8 Official creditors Interest (%) .. .. .. 3.8 5.7 0.5 0.4 0.8 0.8 0.8 Maturity (years) .. .. .. 26.6 17.8 34.6 39.7 36.1 39.9 39.9 Grace period (years) .. .. .. 7.5 5.5 10.1 10.2 9.2 10.4 10.4 Grant element (%) .. .. .. 48.9 31.7 80.7 83.4 78.0 80.8 80.8 Private creditors Interest (%) .. .. .. 9.3 0.0 0.0 5.9 0.0 0.0 0.0 Maturity (years) .. .. .. 5.4 0.0 0.0 3.2 0.0 0.0 0.0 Grace period (years) .. .. .. 4.6 0.0 0.0 3.2 0.0 0.0 0.0 Grant element (%) .. .. .. 2.7 0.0 0.0 10.4 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 223 59 66 20 10 43 54 Official creditors .. .. .. 131 59 66 18 10 43 54 Private creditors .. .. .. 92 0 0 2 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 15 14 15 14 14 9 7 5 3 1 Principal 200 164 137 68 64 93 57 48 48 43 Interest 58 40 29 25 19 16 13 10 8 5 Official creditors Disbursements 15 14 15 14 14 9 7 5 3 1 Principal 59 45 35 32 33 34 34 31 31 31 Interest 14 13 11 10 9 8 7 6 5 4 Bilateral creditors Disbursements 2 2 1 1 0 0 0 0 0 0 Principal 12 14 9 9 9 9 9 9 9 9 Interest 4 3 3 2 2 2 2 1 1 1 Multilateral creditors Disbursements 12 13 14 13 13 9 7 5 3 1 Principal 47 31 26 23 24 26 25 22 22 22 Interest 11 10 9 8 7 6 5 4 3 3 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 140 119 102 36 31 58 23 17 18 12 Interest 44 27 18 15 10 9 6 5 4 2 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2 2 2 1 1 1 1 0 0 0 Interest 1 1 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 139 117 100 35 30 58 22 17 18 12 Interest 44 27 17 15 10 9 6 5 4 2 364 MONGOLIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 606.2 726.7 914.1 896.4 885.0 1,036.0 1,472.4 Long-term debt (LDOD) .. .. .. 533.3 650.0 841.1 833.4 823.7 949.1 1,137.7 Public and publicly guaranteed .. .. .. 533.3 650.0 841.1 833.4 823.7 949.1 1,137.7 Private nonguaranteed .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. .. .. 47.6 48.3 51.4 50.3 46.8 42.6 49.6 Short-term debt .. .. .. 25.3 28.4 21.6 12.8 14.4 44.2 285.2 of which interest arrears on LDOD .. .. .. 0.3 0.3 1.0 1.7 3.3 3.0 3.2 Official creditors .. .. .. 0.0 0.0 0.8 1.6 3.3 3.0 3.2 Private creditors .. .. .. 0.3 0.3 0.2 0.1 0.0 0.0 0.0 Memo: principal arrears on LDOD .. .. .. 7.0 11.4 28.9 17.3 14.9 15.3 15.3 Official creditors .. .. .. 4.5 9.5 28.1 17.0 14.9 15.3 15.3 Private creditors .. .. .. 2.6 1.9 0.7 0.3 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements .. .. .. 146.1 96.8 113.2 83.1 87.7 82.2 122.5 Long-term debt .. .. .. 138.4 96.8 105.0 75.2 82.5 82.2 111.1 IMF purchases .. .. .. 7.7 0.0 8.1 7.8 5.2 0.0 11.4 Principal repayments .. .. .. 50.5 22.4 10.5 28.2 34.9 39.9 273.9 Long-term debt .. .. .. 49.6 21.2 6.7 21.8 28.1 32.2 265.4 IMF repurchases .. .. .. 0.9 1.3 3.8 6.4 6.8 7.7 8.6 Net flows on debt .. .. .. 116.3 77.5 95.1 45.4 52.8 72.4 89.3 of which short-term debt .. .. .. 20.7 3.1 -7.5 -9.5 0.0 30.1 240.8 Interest payments (INT) .. .. .. 12.5 8.6 11.0 10.5 10.4 12.5 14.3 Long-term debt .. .. .. 11.6 6.9 9.4 9.4 9.8 11.8 12.1 IMF charges .. .. .. 0.2 0.2 0.3 0.3 0.2 0.2 0.2 Short-term debt .. .. .. 0.6 1.5 1.3 0.8 0.4 0.5 2.0 Net transfers on debt .. .. .. 103.8 68.9 84.2 34.9 42.3 59.9 75.0 Total debt service paid (TDS) .. .. .. 63.0 31.1 21.5 38.6 45.3 52.4 288.2 Long-term debt .. .. .. 61.2 28.1 16.1 31.2 37.9 44.0 277.5 IMF repurchases and charges .. .. .. 1.1 1.5 4.1 6.6 7.1 7.9 8.8 Short-term debt (interest only) .. .. .. 0.6 1.5 1.3 0.8 0.4 0.5 2.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 172.9 148.4 178.4 189.0 164.6 195.3 44.5 Net flow of long-term debt (ex. IMF) .. .. .. 88.8 75.7 98.3 53.4 54.4 50.0 -154.3 Foreign direct investment (net) .. .. .. 25.0 18.9 30.4 53.7 43.0 77.8 131.5 Portfolio equity flows .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. .. 59.1 53.8 49.7 81.9 67.2 67.6 67.3 Memo: technical coop. grants .. .. .. 54.0 58.5 64.8 61.1 66.4 69.4 76.9 official net resource flows .. .. .. 164.2 144.5 150.9 138.0 123.0 117.7 -86.8 private net resource flows .. .. .. 8.7 3.8 27.5 51.0 41.7 77.7 131.4 NET TRANSFERS .. .. .. 153.6 141.0 168.6 170.8 148.9 178.4 25.4 Interest on long-term debt .. .. .. 11.6 6.9 9.4 9.4 9.8 11.8 12.1 Profit remittances on FDI .. .. .. 7.6 0.5 0.4 8.8 5.9 5.1 7.0 Memo: official net transfers .. .. .. 155.1 138.8 142.0 128.9 113.2 105.9 -98.9 private net transfers .. .. .. -1.5 2.2 26.6 41.9 35.7 72.5 124.3 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 1,042.0 972.0 901.6 941.1 1,045.2 1,177.4 1,252.2 Exports of goods, serv. & inc. (XGS) .. .. .. 627.3 555.8 544.0 638.5 676.5 778.3 892.5 Worker remit. & comp. of employees .. .. .. 0.0 6.0 7.0 12.0 25.0 56.0 56.0 Imports of goods & services (MGS) .. .. .. 576.3 680.7 663.0 790.7 846.1 964.6 1,105.8 International reserves (RES) .. .. .. 200.4 103.2 136.9 202.1 256.6 398.5 242.8 Current account balance .. .. .. 102.9 -74.7 -51.9 -69.9 -62.1 -105.0 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 96.6 130.8 168.0 140.4 130.8 133.1 165.0 EDT / GNI (%) .. .. .. 58.2 74.8 101.4 95.3 84.7 88.0 117.6 TDS / XGS (%) .. .. .. 10.0 5.6 3.9 6.1 6.7 6.7 32.3 INT / XGS (%) .. .. .. 2.0 1.6 2.0 1.6 1.5 1.6 1.6 INT / GNI (%) .. .. .. 1.2 0.9 1.2 1.1 1.0 1.1 1.1 RES / EDT (%) .. .. .. 33.1 14.2 15.0 22.5 29.0 38.5 16.5 RES / MGS (months) .. .. .. 4.2 1.8 2.5 3.1 3.6 5.0 2.6 Short-term / EDT (%) .. .. .. 4.2 3.9 2.4 1.4 1.6 4.3 19.4 Concessional / EDT (%) .. .. .. 81.6 87.0 89.6 91.2 91.5 90.3 76.3 Multilateral / EDT (%) .. .. .. 48.8 50.6 48.9 51.5 54.6 54.8 46.7 365 MONGOLIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 533.3 650.0 841.1 833.4 823.7 949.1 1,137.7 Public and publicly guaranteed .. .. .. 533.3 650.0 841.1 833.4 823.7 949.1 1,137.7 Official creditors .. .. .. 507.8 639.5 835.3 830.8 822.8 948.4 1,137.1 Multilateral .. .. .. 295.9 367.8 446.7 462.1 483.4 567.3 688.0 Concessional .. .. .. 295.9 367.8 446.7 462.1 483.4 567.3 688.0 Bilateral .. .. .. 211.9 271.6 388.5 368.8 339.4 381.1 449.0 Concessional .. .. .. 199.1 264.5 371.9 355.8 326.4 368.1 436.0 Private creditors .. .. .. 25.6 10.6 5.8 2.5 0.9 0.7 0.6 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 6.1 2.5 1.4 1.1 0.9 0.7 0.6 Other private .. .. .. 19.4 8.1 4.4 1.4 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 .. .. .. 97.1 118.0 129.7 137.1 154.9 180.5 227.0 DISBURSEMENTS .. .. .. 138.4 96.8 105.0 75.2 82.5 82.2 111.1 Public and publicly guaranteed .. .. .. 138.4 96.8 105.0 75.2 82.5 82.2 111.1 Official creditors .. .. .. 138.4 96.4 105.0 75.2 82.5 82.2 111.1 Multilateral .. .. .. 108.0 52.7 63.7 47.3 54.6 41.9 72.4 Concessional .. .. .. 108.0 52.7 63.7 47.3 54.6 41.9 72.4 Bilateral .. .. .. 30.4 43.6 41.4 28.0 27.9 40.2 38.7 Concessional .. .. .. 19.7 43.6 41.4 28.0 27.9 40.2 38.7 Private creditors .. .. .. 0.0 0.4 0.0 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 0.4 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 .. .. .. 33.8 16.7 14.2 14.1 23.5 13.9 28.6 PRINCIPAL REPAYMENTS .. .. .. 49.6 21.2 6.7 21.8 28.1 32.2 265.4 Public and publicly guaranteed .. .. .. 49.6 21.2 6.7 21.8 28.1 32.2 265.4 Official creditors .. .. .. 33.3 5.7 3.8 19.1 26.8 32.1 265.2 Multilateral .. .. .. 0.0 0.0 0.0 0.0 0.0 1.3 1.7 Concessional .. .. .. 0.0 0.0 0.0 0.0 0.0 1.3 1.7 Bilateral .. .. .. 33.3 5.7 3.8 19.1 26.8 30.8 263.6 Concessional .. .. .. 1.8 0.0 0.2 15.6 26.8 30.8 263.6 Private creditors .. .. .. 16.3 15.5 2.9 2.7 1.3 0.1 0.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 4.1 4.1 0.3 0.3 0.1 0.1 0.1 Other private .. .. .. 12.2 11.4 2.6 2.4 1.2 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 0.7 0.7 NET FLOWS ON DEBT .. .. .. 88.8 75.7 98.3 53.4 54.4 50.0 -154.3 Public and publicly guaranteed .. .. .. 88.8 75.7 98.3 53.4 54.4 50.0 -154.3 Official creditors .. .. .. 105.2 90.7 101.2 56.1 55.7 50.1 -154.2 Multilateral .. .. .. 108.0 52.7 63.7 47.3 54.6 40.7 70.8 Concessional .. .. .. 108.0 52.7 63.7 47.3 54.6 40.7 70.8 Bilateral .. .. .. -2.8 38.0 37.6 8.9 1.1 9.4 -224.9 Concessional .. .. .. 17.9 43.6 41.1 12.4 1.1 9.4 -224.9 Private creditors .. .. .. -16.3 -15.1 -2.9 -2.7 -1.3 -0.1 -0.1 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. -4.1 -3.7 -0.3 -0.3 -0.1 -0.1 -0.1 Other private .. .. .. -12.2 -11.4 -2.6 -2.4 -1.2 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 .. .. .. 33.8 16.7 14.2 14.1 23.5 13.3 27.9 366 MONGOLIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 11.6 6.9 9.4 9.4 9.8 11.8 12.1 Public and publicly guaranteed .. .. .. 11.6 6.9 9.4 9.4 9.8 11.8 12.1 Official creditors .. .. .. 9.1 5.7 8.9 9.1 9.7 11.8 12.1 Multilateral .. .. .. 2.0 2.8 3.5 4.1 4.1 4.7 5.6 Concessional .. .. .. 2.0 2.8 3.5 4.1 4.1 4.7 5.6 Bilateral .. .. .. 7.1 3.0 5.4 5.0 5.6 7.1 6.4 Concessional .. .. .. 5.7 2.4 5.2 4.9 5.6 7.1 6.4 Private creditors .. .. .. 2.5 1.2 0.5 0.3 0.1 0.0 0.0 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 0.5 0.2 0.1 0.0 0.0 0.0 0.0 Other private .. .. .. 2.0 1.0 0.4 0.3 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 .. .. .. 0.5 0.7 0.9 1.0 1.0 1.2 1.4 NET TRANSFERS ON DEBT .. .. .. 77.2 68.7 88.9 44.0 44.6 38.2 -166.4 Public and publicly guaranteed .. .. .. 77.2 68.7 88.9 44.0 44.6 38.2 -166.4 Official creditors .. .. .. 96.1 85.0 92.3 47.0 46.0 38.3 -166.2 Multilateral .. .. .. 106.0 50.0 60.1 43.2 50.5 36.0 65.1 Concessional .. .. .. 106.0 50.0 60.1 43.2 50.5 36.0 65.1 Bilateral .. .. .. -9.9 35.0 32.2 3.8 -4.5 2.4 -231.3 Concessional .. .. .. 12.3 41.2 36.0 7.5 -4.5 2.4 -231.3 Private creditors .. .. .. -18.9 -16.2 -3.4 -3.0 -1.4 -0.2 -0.2 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. -4.6 -3.9 -0.4 -0.3 -0.2 -0.2 -0.2 Other private .. .. .. -14.2 -12.4 -3.0 -2.6 -1.2 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 .. .. .. 33.3 16.0 13.3 13.1 22.5 12.1 26.5 DEBT SERVICE (LTDS) .. .. .. 61.2 28.1 16.1 31.2 37.9 44.0 277.5 Public and publicly guaranteed .. .. .. 61.2 28.1 16.1 31.2 37.9 44.0 277.5 Official creditors .. .. .. 42.3 11.4 12.7 28.2 36.5 43.8 277.3 Multilateral .. .. .. 2.0 2.8 3.5 4.1 4.1 6.0 7.3 Concessional .. .. .. 2.0 2.8 3.5 4.1 4.1 6.0 7.3 Bilateral .. .. .. 40.3 8.6 9.2 24.1 32.4 37.9 270.0 Concessional .. .. .. 7.4 2.4 5.4 20.5 32.4 37.9 270.0 Private creditors .. .. .. 18.9 16.7 3.4 3.0 1.4 0.2 0.2 Bonds .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. .. 4.6 4.3 0.4 0.3 0.2 0.2 0.2 Other private .. .. .. 14.2 12.4 3.0 2.6 1.2 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 0.7 0.9 1.0 1.0 1.9 2.1 UNDISBURSED DEBT .. .. .. 329.4 343.8 329.4 319.9 332.9 465.6 444.3 Official creditors .. .. .. 320.0 334.9 320.5 319.9 332.9 465.6 417.8 Private creditors .. .. .. 9.4 8.9 8.9 0.0 0.0 0.0 26.5 Memorandum items Concessional LDOD .. .. .. 495.0 632.3 818.7 817.8 809.8 935.4 1,124.1 Variable rate LDOD .. .. .. 4.0 0.5 0.2 0.1 0.0 0.0 0.0 Public sector LDOD .. .. .. 521.8 642.0 836.7 831.9 823.7 949.1 1,137.7 Private sector LDOD .. .. .. 11.5 8.1 4.4 1.4 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 5.6 6.5 7.9 Deutsche mark .. .. .. 5.2 5.2 4.0 4.3 .. .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 .. .. .. Japanese yen .. .. .. 20.8 24.2 25.5 25.0 23.5 23.6 23.2 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 1.4 1.2 0.7 0.7 0.7 0.8 0.7 U.S.dollars .. .. .. 34.3 30.3 34.4 35.8 38.4 38.3 39.9 Multiple currency .. .. .. 32.5 33.1 30.1 29.0 26.7 25.8 23.4 Special drawing rights .. .. .. 1.5 2.0 1.6 1.5 1.6 1.6 1.8 All other currencies .. .. .. 4.3 3.9 3.7 3.7 3.5 3.5 3.1 367 MONGOLIA (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 0.0 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 .. .. .. 72.1 120.5 187.4 -17.7 -11.5 151.0 436.4 Net flows on debt .. .. .. 116.3 77.5 95.1 45.4 52.8 72.4 89.3 Net change in interest arrears .. .. .. -0.1 -0.1 0.7 0.7 1.6 -0.2 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 .. .. .. -39.4 38.0 21.1 -60.3 -63.1 74.5 102.6 Residual .. .. .. -4.7 5.1 70.4 -3.4 -2.7 4.4 244.3 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 2.6 1.9 0.8 1.2 1.0 1.2 1.2 Maturity (years) .. .. .. 36.2 39.8 39.7 31.9 34.0 33.5 19.4 Grace period (years) .. .. .. 9.8 10.0 10.2 9.3 9.1 8.5 5.4 Grant element (%) .. .. .. 62.3 69.9 80.5 72.6 74.4 71.8 53.9 Official creditors Interest (%) .. .. .. 2.6 1.9 0.8 1.2 1.0 1.2 1.2 Maturity (years) .. .. .. 36.3 39.8 39.7 31.9 34.0 33.5 29.3 Grace period (years) .. .. .. 9.9 10.0 10.2 9.3 9.1 8.5 8.8 Grant element (%) .. .. .. 62.4 69.9 80.5 72.6 74.4 71.8 70.5 Private creditors Interest (%) .. .. .. 2.5 0.0 0.0 0.0 0.0 0.0 1.2 Maturity (years) .. .. .. 3.8 0.0 0.0 0.0 0.0 0.0 10.4 Grace period (years) .. .. .. 1.3 0.0 0.0 0.0 0.0 0.0 2.4 Grant element (%) .. .. .. 15.6 0.0 0.0 0.0 0.0 0.0 38.8 Memorandum items Commitments .. .. .. 184 92 12 102 118 142 51 Official creditors .. .. .. 183 92 12 102 118 142 24 Private creditors .. .. .. 0 0 0 0 0 0 27 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 161.4 102.6 73.1 50.9 33.1 20.3 12.9 5.9 2.6 1.3 Principal 19.9 26.5 33.2 38.3 43.7 47.3 49.6 55.3 58.3 59.4 Interest 13.3 15.3 18.2 19.1 19.1 19.0 18.6 18.1 17.3 16.5 Official creditors Disbursements 152.3 92.5 68.0 49.3 32.3 20.3 12.9 5.9 2.6 1.3 Principal 19.7 24.8 29.9 35.0 40.6 44.2 46.5 52.2 55.1 56.3 Interest 13.3 15.3 18.2 19.1 19.0 18.8 18.5 18.0 17.2 16.5 Bilateral creditors Disbursements 48.6 36.5 23.6 15.0 7.1 3.6 2.0 0.3 0.0 0.0 Principal 15.8 18.1 20.3 21.5 22.1 23.2 23.2 26.2 26.6 26.2 Interest 6.5 6.7 6.7 6.6 6.3 6.1 5.8 5.5 5.1 4.8 Multilateral creditors Disbursements 103.7 56.0 44.4 34.4 25.2 16.8 10.9 5.6 2.6 1.3 Principal 3.9 6.7 9.6 13.5 18.5 21.1 23.4 26.0 28.5 30.1 Interest 6.8 8.5 11.5 12.6 12.6 12.7 12.7 12.5 12.1 11.7 Private creditors Disbursements 9.0 10.1 5.0 1.6 0.8 0.0 0.0 0.0 0.0 0.0 Principal 0.1 1.7 3.3 3.3 3.1 3.1 3.1 3.1 3.1 3.1 Interest 0.0 0.0 0.0 0.0 0.1 0.2 0.1 0.1 0.1 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 0.0 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 9.0 10.1 5.0 1.6 0.8 0.0 0.0 0.0 0.0 0.0 Principal 0.0 1.6 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 Interest 0.0 0.0 0.0 0.0 0.1 0.2 0.1 0.1 0.1 0.0 368 MOROCCO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 985 9,722 25,017 23,574 23,739 23,015 20,753 19,196 18,395 18,795 Long-term debt (LDOD) 886 8,488 23,860 21,413 21,897 20,989 19,180 17,509 16,692 17,542 Public and publicly guaranteed 871 8,338 23,660 20,461 20,780 18,894 17,318 15,756 14,780 15,224 Private nonguaranteed 15 150 200 952 1,117 2,095 1,862 1,753 1,912 2,318 Use of IMF credit 28 457 750 0 0 0 0 0 0 0 Short-term debt 71 777 407 2,161 1,842 2,027 1,573 1,687 1,703 1,253 of which interest arrears on LDOD 0 2 182 108 110 121 122 122 122 11 Official creditors 0 2 182 108 109 119 122 121 121 11 Private creditors 0 0 0 0 1 1 1 1 0 0 Memo: principal arrears on LDOD 0 3 738 203 223 432 535 535 533 8 Official creditors 0 3 738 203 218 426 531 531 531 8 Private creditors 0 0 0 0 5 6 4 4 2 0 Memo: export credits 0 0 8,416 6,513 1,276 1,154 945 789 891 901 TOTAL DEBT FLOWS Disbursements 196 2,452 1,853 1,508 1,683 1,695 1,638 1,189 1,447 2,290 Long-term debt 186 2,174 1,788 1,508 1,683 1,695 1,638 1,189 1,447 2,290 IMF purchases 10 278 65 0 0 0 0 0 0 0 Principal repayments 54 678 908 2,003 1,769 1,982 1,626 1,656 2,586 2,964 Long-term debt 40 591 680 2,000 1,769 1,982 1,626 1,656 2,586 2,964 IMF repurchases 14 88 228 3 0 0 0 0 0 0 Net flows on debt 142 1,814 1,032 221 -406 -114 -443 -352 -1,123 -1,013 of which short-term debt 0 40 86 716 -321 174 -455 114 16 -339 Interest payments (INT) 26 768 887 1,137 1,126 1,172 1,075 1,004 1,122 1,329 Long-term debt 26 651 795 1,037 1,021 1,071 948 934 1,078 1,298 IMF charges 0 12 72 0 0 0 0 0 0 0 Short-term debt 0 105 20 100 106 102 127 70 44 31 Net transfers on debt 116 1,046 145 -916 -1,533 -1,286 -1,518 -1,356 -2,245 -2,341 Total debt service paid (TDS) 80 1,446 1,795 3,140 2,895 3,155 2,702 2,659 3,708 4,293 Long-term debt 66 1,241 1,475 3,036 2,789 3,053 2,575 2,589 3,664 4,262 IMF repurchases and charges 14 99 300 3 0 0 0 0 0 0 Short-term debt (interest only) 0 105 20 100 106 102 127 70 44 31 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 190 1,748 1,753 1,015 709 1,412 643 2,508 -503 1,844 Net flow of long-term debt (ex. IMF) 146 1,584 1,108 -491 -85 -288 12 -466 -1,139 -674 Foreign direct investment (net) 20 89 165 1,188 417 1,376 423 2,808 481 2,279 Portfolio equity flows 0 0 0 38 24 6 18 -7 -8 8 Grants (excluding technical coop.) 24 75 480 281 353 318 191 174 163 230 Memo: technical coop. grants 29 123 182 215 228 230 193 211 283 351 official net resource flows 144 828 1,270 -302 -84 224 -106 -354 -575 -552 private net resource flows 46 921 483 1,318 793 1,188 749 2,863 72 2,395 NET TRANSFERS 165 1,049 889 -181 -454 155 -573 1,174 -2,063 -48 Interest on long-term debt 26 651 795 1,037 1,021 1,071 948 934 1,078 1,298 Profit remittances on FDI 0 49 69 160 143 186 268 401 482 594 Memo: official net transfers 126 692 690 -1,106 -864 -445 -656 -1,012 -1,501 -1,675 private net transfers 39 357 199 925 409 600 83 2,186 -562 1,627 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 3,945 18,402 24,835 32,239 34,784 34,263 32,470 33,068 35,355 42,998 Exports of goods, serv. & inc. (XGS) .. 4,324 8,328 11,575 12,175 12,749 12,890 14,758 15,453 18,234 Worker remit. & comp. of employees 0 1,054 2,006 1,893 2,011 1,938 2,161 3,261 2,877 3,614 Imports of goods & services (MGS) .. 5,807 8,853 11,975 12,653 13,132 13,686 13,441 14,429 17,140 International reserves (RES) 142 814 2,338 4,197 4,638 5,894 5,017 8,669 10,375 14,147 Current account balance .. -1,407 -196 -87 -144 -167 -475 1,611 1,477 1,582 4. DEBT INDICATORS EDT / XGS (%) .. 224.8 300.4 203.7 195.0 180.5 161.0 130.1 119.0 103.1 EDT / GNI (%) 25.0 52.8 100.7 73.1 68.2 67.2 63.9 58.1 52.0 43.7 TDS / XGS (%) .. 33.4 21.5 27.1 23.8 24.7 21.0 18.0 24.0 23.5 INT / XGS (%) .. 17.7 10.7 9.8 9.3 9.2 8.3 6.8 7.3 7.3 INT / GNI (%) 0.7 4.2 3.6 3.5 3.2 3.4 3.3 3.0 3.2 3.1 RES / EDT (%) 14.4 8.4 9.3 17.8 19.5 25.6 24.2 45.2 56.4 75.3 RES / MGS (months) .. 1.7 3.2 4.2 4.4 5.4 4.4 7.7 8.6 9.9 Short-term / EDT (%) 7.2 8.0 1.6 9.2 7.8 8.8 7.6 8.8 9.3 6.7 Concessional / EDT (%) 63.2 27.9 31.9 28.8 29.3 28.6 29.5 30.1 31.6 29.1 Multilateral / EDT (%) 6.0 7.4 18.7 26.8 28.3 28.7 29.6 30.0 30.9 31.0 369 MOROCCO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 886 8,488 23,860 21,413 21,897 20,989 19,180 17,509 16,692 17,542 Public and publicly guaranteed 871 8,338 23,660 20,461 20,780 18,894 17,318 15,756 14,780 15,224 Official creditors 742 3,519 16,981 14,955 15,046 13,989 12,859 11,818 11,743 11,770 Multilateral 59 723 4,687 6,311 6,728 6,602 6,135 5,761 5,693 5,831 Concessional 3 79 405 855 937 1,004 1,000 982 986 1,029 Bilateral 683 2,796 12,294 8,645 8,318 7,387 6,725 6,057 6,050 5,939 Concessional 620 2,638 7,570 5,940 6,018 5,580 5,117 4,794 4,825 4,438 Private creditors 129 4,818 6,679 5,506 5,734 4,905 4,459 3,938 3,037 3,454 Bonds 31 173 0 250 267 197 152 114 102 587 Commercial banks 0 2,807 3,963 3,964 4,134 3,556 3,300 2,995 2,192 2,095 Other private 98 1,839 2,716 1,291 1,333 1,152 1,006 828 743 772 Private nonguaranteed 15 150 200 952 1,117 2,095 1,862 1,753 1,912 2,318 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 15 150 200 952 1,117 2,095 1,862 1,753 1,912 2,318 Memo: IBRD 56 539 3,099 3,271 3,388 3,194 2,837 2,500 2,549 2,719 IDA 3 39 39 31 29 28 27 25 24 22 DISBURSEMENTS 186 2,174 1,788 1,508 1,683 1,695 1,638 1,189 1,447 2,290 Public and publicly guaranteed 179 2,099 1,780 1,233 1,345 1,305 980 637 693 1,650 Official creditors 145 866 1,220 959 874 1,044 629 541 602 917 Multilateral 16 109 781 560 623 783 466 368 484 700 Concessional 2 22 39 126 100 122 61 56 95 156 Bilateral 130 757 439 399 251 260 164 174 118 217 Concessional 90 709 287 324 197 181 119 144 118 183 Private creditors 33 1,233 560 274 471 261 351 96 91 733 Bonds 0 6 0 0 0 0 0 0 0 452 Commercial banks 0 672 190 96 337 28 143 15 47 169 Other private 33 555 371 178 135 233 208 81 44 112 Private nonguaranteed 8 75 8 275 338 390 658 552 754 640 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 75 8 275 338 390 658 552 754 640 Memo: IBRD 14 64 426 141 253 404 138 61 45 142 IDA 2 1 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 40 591 680 2,000 1,769 1,982 1,626 1,656 2,586 2,964 Public and publicly guaranteed 38 566 672 1,956 1,725 1,938 1,588 1,598 1,958 2,523 Official creditors 25 114 430 1,542 1,312 1,138 926 1,069 1,340 1,699 Multilateral 5 39 276 659 511 529 550 529 797 1,239 Concessional 0 0 13 30 33 35 52 61 66 146 Bilateral 20 75 154 883 800 608 377 541 543 460 Concessional 15 61 33 209 233 229 235 311 393 303 Private creditors 13 452 242 413 413 801 661 528 618 824 Bonds 3 9 0 0 0 35 30 29 31 37 Commercial banks 0 295 40 148 140 500 350 282 395 588 Other private 9 149 202 265 273 266 281 217 193 200 Private nonguaranteed 3 25 8 44 44 44 39 58 628 441 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 25 8 44 44 44 39 58 628 441 Memo: IBRD 5 29 202 306 286 302 307 279 267 305 IDA 0 0 1 1 1 1 1 1 1 1 NET FLOWS ON DEBT 146 1,584 1,108 -491 -85 -288 12 -466 -1,139 -674 Public and publicly guaranteed 141 1,534 1,108 -723 -379 -634 -607 -961 -1,265 -873 Official creditors 120 752 790 -583 -438 -94 -297 -528 -738 -782 Multilateral 11 70 506 -100 112 254 -84 -161 -313 -539 Concessional 2 22 26 96 66 87 9 -5 30 10 Bilateral 109 682 284 -483 -550 -348 -213 -367 -425 -243 Concessional 75 648 254 115 -36 -48 -115 -166 -275 -120 Private creditors 21 781 318 -140 58 -540 -311 -433 -527 -91 Bonds -3 -2 0 0 0 -35 -30 -29 -31 416 Commercial banks 0 377 150 -52 197 -472 -207 -267 -348 -419 Other private 24 406 169 -88 -139 -33 -73 -136 -149 -88 Private nonguaranteed 5 50 0 231 294 346 619 494 126 199 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 5 50 0 231 294 346 619 494 126 199 Memo: IBRD 9 35 224 -165 -34 102 -169 -218 -222 -163 IDA 2 1 -1 -1 -1 -1 -1 -1 -1 -1 370 MOROCCO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 26 651 795 1,037 1,021 1,071 948 934 1,078 1,298 Public and publicly guaranteed 25 639 790 989 973 1,013 877 886 1,055 1,236 Official creditors 18 135 580 804 779 669 550 657 926 1,123 Multilateral 4 56 306 421 388 392 363 407 328 303 Concessional 0 1 7 29 33 32 32 78 34 37 Bilateral 15 79 274 383 391 277 187 250 598 821 Concessional 13 69 57 137 168 172 118 189 556 788 Private creditors 6 504 210 185 194 344 327 229 129 113 Bonds 2 15 0 17 17 16 14 13 14 0 Commercial banks 0 364 45 42 62 232 228 153 64 64 Other private 4 125 165 127 115 97 85 62 51 49 Private nonguaranteed 1 11 5 48 48 58 71 48 23 62 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 11 5 48 48 58 71 48 23 62 Memo: IBRD 4 49 226 238 206 212 190 173 145 126 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 121 933 313 -1,528 -1,106 -1,359 -936 -1,400 -2,217 -1,971 Public and publicly guaranteed 116 894 318 -1,712 -1,352 -1,647 -1,484 -1,846 -2,320 -2,109 Official creditors 102 617 210 -1,387 -1,217 -762 -847 -1,185 -1,664 -1,905 Multilateral 7 14 199 -521 -276 -138 -447 -568 -641 -841 Concessional 2 21 19 67 34 55 -23 -83 -5 -26 Bilateral 95 603 10 -866 -941 -625 -400 -618 -1,023 -1,063 Concessional 62 579 197 -22 -204 -219 -233 -355 -831 -908 Private creditors 15 277 108 -325 -135 -884 -638 -661 -656 -204 Bonds -5 -17 0 -17 -17 -51 -44 -42 -45 416 Commercial banks 0 13 105 -93 135 -704 -435 -420 -412 -483 Other private 20 281 3 -215 -253 -129 -158 -199 -200 -137 Private nonguaranteed 4 39 -5 184 246 288 548 446 103 138 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 39 -5 184 246 288 548 446 103 138 Memo: IBRD 5 -14 -2 -403 -240 -109 -359 -391 -367 -289 IDA 2 0 -1 -2 -2 -2 -2 -2 -2 -2 DEBT SERVICE (LTDS) 66 1,241 1,475 3,036 2,789 3,053 2,575 2,589 3,664 4,262 Public and publicly guaranteed 62 1,205 1,462 2,945 2,698 2,951 2,465 2,484 3,013 3,759 Official creditors 44 249 1,010 2,346 2,091 1,806 1,476 1,727 2,266 2,822 Multilateral 9 95 582 1,080 899 921 912 935 1,125 1,542 Concessional 0 1 20 59 66 67 84 139 100 183 Bilateral 35 154 428 1,265 1,191 885 564 791 1,141 1,280 Concessional 28 130 90 346 401 401 353 499 949 1,091 Private creditors 19 956 452 599 607 1,145 988 757 747 937 Bonds 5 23 0 17 17 51 44 42 45 37 Commercial banks 0 659 85 190 202 732 578 435 459 652 Other private 14 274 367 392 388 362 366 279 244 249 Private nonguaranteed 3 36 13 92 92 102 110 106 651 503 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 36 13 92 92 102 110 106 651 503 Memo: IBRD 9 78 428 544 493 514 497 451 412 431 IDA 0 0 1 2 2 2 2 2 2 2 UNDISBURSED DEBT 242 2,291 4,093 4,478 4,199 4,504 3,655 3,973 4,867 5,372 Official creditors 221 1,882 3,422 3,915 3,690 3,791 3,221 3,661 4,516 5,161 Private creditors 21 409 671 563 509 712 434 312 352 211 Memorandum items Concessional LDOD 622 2,717 7,975 6,794 6,955 6,584 6,117 5,776 5,811 5,466 Variable rate LDOD 15 2,626 7,827 8,273 8,554 8,784 7,825 7,077 6,820 7,090 Public sector LDOD 864 8,283 23,596 20,246 20,587 18,715 17,159 15,655 14,679 15,117 Private sector LDOD 23 204 264 1,167 1,311 2,274 2,021 1,854 2,014 2,425 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 36.2 38.4 47.4 Deutsche mark 11.7 3.7 5.2 6.4 6.4 5.7 5.4 .. .. .. French franc 29.5 26.4 24.5 20.2 21.5 19.4 19.4 .. .. .. Japanese yen 0.0 1.8 2.2 2.3 2.5 3.1 3.3 3.4 4.0 4.8 Pound sterling 0.0 0.4 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 Swiss franc 0.1 0.3 0.2 0.2 0.2 0.2 0.1 0.2 0.2 0.2 U.S.dollars 40.9 51.6 40.1 31.1 38.3 38.2 37.5 37.0 34.8 27.9 Multiple currency 6.8 6.6 15.4 20.3 10.5 10.3 9.4 8.7 7.1 5.3 Special drawing rights 0.0 0.2 0.1 0.2 0.2 0.2 0.2 0.3 0.2 0.2 All other currencies 11.0 9.0 12.1 19.1 20.4 22.9 24.5 14.1 15.3 14.3 371 MOROCCO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 5 0 0 117 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 .. .. 2,774 -701 165 -724 -2,263 -1,556 -801 400 Net flows on debt 142 1,814 1,032 221 -406 -114 -443 -352 -1,123 -1,013 Net change in interest arrears .. .. 43 12 2 11 1 0 0 -111 Interest capitalized .. .. 219 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -31 -5 0 0 -117 0 0 0 Cross-currency valuation .. .. 1,099 -1,485 701 -1,211 -738 -557 1,364 1,458 Residual .. .. 412 555 -131 590 -965 -647 -1,041 65 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.3 8.1 6.8 5.1 3.8 3.6 3.6 3.7 3.5 4.1 Maturity (years) 27.4 18.7 19.9 16.1 17.5 17.1 22.7 19.2 18.2 16.0 Grace period (years) 7.4 5.3 6.2 5.1 5.8 4.7 5.9 5.4 4.3 4.8 Grant element (%) 38.1 14.4 24.0 29.5 39.6 38.5 43.5 39.6 39.8 32.8 Official creditors Interest (%) 3.9 4.1 5.4 4.6 2.9 3.2 3.5 3.7 3.5 3.9 Maturity (years) 32.0 20.8 24.1 18.2 21.1 19.4 24.3 19.2 18.5 20.0 Grace period (years) 8.8 5.3 8.3 5.7 6.3 5.8 6.3 5.4 4.4 5.2 Grant element (%) 44.0 39.5 36.1 34.3 48.7 44.6 46.3 39.6 40.6 37.9 Private creditors Interest (%) 6.1 11.7 9.7 6.5 5.3 4.8 4.8 6.8 5.1 4.5 Maturity (years) 8.6 16.7 11.6 9.6 11.2 10.3 10.7 8.6 11.5 8.5 Grace period (years) 1.7 5.3 2.1 3.4 4.9 1.7 2.8 2.4 0.4 4.1 Grant element (%) 13.7 -8.1 0.0 14.7 23.5 21.2 23.5 8.0 18.7 23.2 Memorandum items Commitments 251 2,109 2,406 1,972 1,199 2,025 504 1,392 1,094 2,111 Official creditors 201 999 1,602 1,490 766 1,501 444 1,391 1,052 1,380 Private creditors 50 1,110 805 482 433 524 60 1 42 731 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,673 1,415 904 520 311 184 102 35 11 4 Principal 3,683 2,097 1,812 1,692 2,102 1,581 1,499 980 885 765 Interest 727 636 569 505 445 359 299 245 209 178 Official creditors Disbursements 1,534 1,359 890 518 311 184 102 35 11 4 Principal 1,496 1,435 1,266 1,201 1,161 1,154 1,090 925 837 718 Interest 544 510 466 421 374 326 278 235 200 172 Bilateral creditors Disbursements 732 668 422 256 134 70 35 13 3 1 Principal 716 719 601 576 557 565 554 437 396 334 Interest 254 234 209 189 168 147 124 103 89 78 Multilateral creditors Disbursements 802 691 468 262 177 114 67 22 8 3 Principal 781 717 666 626 604 589 536 489 441 384 Interest 290 275 258 232 206 180 155 132 112 94 Private creditors Disbursements 139 56 14 2 0 0 0 0 0 0 Principal 2,186 661 546 491 941 427 409 54 48 47 Interest 183 126 102 85 71 33 21 10 8 6 Commercial banks Disbursements 65 25 4 0 0 0 0 0 0 0 Principal 1,593 106 93 68 63 51 40 30 27 27 Interest 57 23 18 15 12 10 7 6 5 4 Other private Disbursements 74 31 10 2 0 0 0 0 0 0 Principal 594 555 453 423 878 376 369 25 20 20 Interest 126 103 84 70 59 24 14 5 4 3 372 MOZAMBIQUE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 4,650 7,632 8,289 6,977 7,046 4,564 4,766 4,930 Long-term debt (LDOD) .. .. 4,231 7,123 7,717 6,390 6,262 3,871 4,195 4,381 Public and publicly guaranteed .. .. 4,211 5,211 5,960 4,643 4,545 2,321 2,683 2,992 Private nonguaranteed .. .. 19 1,912 1,757 1,747 1,717 1,550 1,513 1,389 Use of IMF credit .. .. 74 189 207 200 219 196 200 209 Short-term debt .. .. 345 320 365 387 564 497 371 339 of which interest arrears on LDOD .. .. 207 202 249 158 399 225 244 277 Official creditors .. .. 76 200 247 156 390 216 243 273 Private creditors .. .. 131 2 2 2 9 9 1 4 Memo: principal arrears on LDOD .. .. 725 1,177 1,184 221 521 189 191 198 Official creditors .. .. 373 1,174 1,181 219 508 186 189 196 Private creditors .. .. 352 3 3 2 13 2 2 2 Memo: export credits .. .. 986 1,492 1,056 1,162 921 871 417 413 TOTAL DEBT FLOWS Disbursements .. .. 242 300 258 158 184 145 281 222 Long-term debt .. .. 230 265 224 130 124 134 270 210 IMF purchases .. .. 12 35 34 29 60 11 11 12 Principal repayments .. .. 41 64 64 58 58 72 53 61 Long-term debt .. .. 41 49 39 41 58 72 48 53 IMF repurchases .. .. 0 15 25 17 0 0 5 9 Net flows on debt .. .. 173 335 192 213 62 180 82 96 of which short-term debt .. .. -28 100 -2 113 -64 107 -146 -64 Interest payments (INT) .. .. 38 45 40 49 32 19 23 27 Long-term debt .. .. 23 41 36 41 20 8 15 23 IMF charges .. .. 0 1 0 2 1 1 1 1 Short-term debt .. .. 15 3 3 6 11 10 8 3 Net transfers on debt .. .. 136 290 152 165 30 161 59 70 Total debt service paid (TDS) .. .. 79 110 104 107 90 91 76 88 Long-term debt .. .. 64 91 75 82 78 80 62 76 IMF repurchases and charges .. .. 0 16 25 19 1 1 6 10 Short-term debt (interest only) .. .. 15 3 3 6 11 10 8 3 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 948 798 1,072 1,096 931 973 2,240 1,097 Net flow of long-term debt (ex. IMF) .. .. 189 216 185 89 67 62 222 158 Foreign direct investment (net) .. .. 9 64 213 382 139 255 348 337 Portfolio equity flows .. .. 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. 750 518 674 626 725 656 1,671 602 Memo: technical coop. grants .. .. 92 162 150 156 174 166 201 228 official net resource flows .. .. 913 732 863 725 822 748 1,918 783 private net resource flows .. .. 35 66 209 371 109 225 323 313 NET TRANSFERS .. .. 925 757 1,036 1,049 911 945 2,198 1,031 Interest on long-term debt .. .. 23 41 36 41 20 8 15 23 Profit remittances on FDI .. .. 0 0 0 6 0 20 28 42 Memo: official net transfers .. .. 897 692 835 691 803 740 1,903 760 private net transfers .. .. 29 65 201 358 108 205 295 271 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 2,320 3,218 3,663 3,777 3,453 3,130 3,409 4,108 Exports of goods, serv. & inc. (XGS) .. .. 300 572 577 637 769 1,073 1,100 1,270 Worker remit. & comp. of employees .. .. 70 64 46 38 37 42 53 69 Imports of goods & services (MGS) .. .. 1,164 1,181 1,320 1,711 1,763 1,906 2,421 1,998 International reserves (RES) .. .. 232 537 628 669 744 729 841 1,009 Current account balance .. .. -415 -296 -429 -912 -764 -657 -712 -516 4. DEBT INDICATORS EDT / XGS (%) .. .. 1,550.9 1,333.5 1,436.4 1,095.6 916.6 425.5 433.4 388.2 EDT / GNI (%) .. .. 200.4 237.2 226.3 184.7 204.0 145.8 139.8 120.0 TDS / XGS (%) .. .. 26.2 19.2 17.9 16.8 11.7 8.5 6.9 6.9 INT / XGS (%) .. .. 12.6 7.9 6.9 7.6 4.2 1.7 2.1 2.1 INT / GNI (%) .. .. 1.6 1.4 1.1 1.3 0.9 0.6 0.7 0.7 RES / EDT (%) .. .. 5.0 7.0 7.6 9.6 10.6 16.0 17.7 20.5 RES / MGS (months) .. .. 2.4 5.5 5.7 4.7 5.1 4.6 4.2 6.1 Short-term / EDT (%) .. .. 7.4 4.2 4.4 5.5 8.0 10.9 7.8 6.9 Concessional / EDT (%) .. .. 44.8 41.7 48.9 50.4 49.4 47.5 53.1 57.4 Multilateral / EDT (%) .. .. 10.0 21.2 22.8 15.4 15.9 25.9 31.3 36.9 373 MOZAMBIQUE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 4,231 7,123 7,717 6,390 6,262 3,871 4,195 4,381 Public and publicly guaranteed .. .. 4,211 5,211 5,960 4,643 4,545 2,321 2,683 2,992 Official creditors .. .. 3,560 5,193 5,948 4,632 4,534 2,318 2,680 2,990 Multilateral .. .. 464 1,618 1,887 1,078 1,122 1,183 1,494 1,818 Concessional .. .. 405 1,533 1,803 1,013 1,074 1,136 1,453 1,779 Bilateral .. .. 3,097 3,575 4,060 3,554 3,413 1,135 1,186 1,172 Concessional .. .. 1,677 1,651 2,251 2,502 2,407 1,033 1,080 1,051 Private creditors .. .. 651 18 13 12 11 3 3 2 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 147 2 1 1 0 0 0 0 Other private .. .. 504 17 12 11 11 3 3 2 Private nonguaranteed .. .. 19 1,912 1,757 1,747 1,717 1,550 1,513 1,389 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 19 1,912 1,757 1,747 1,717 1,550 1,513 1,389 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 268 1,160 1,335 702 760 777 985 1,232 DISBURSEMENTS .. .. 230 265 224 130 124 134 270 210 Public and publicly guaranteed .. .. 210 259 224 130 124 134 270 210 Official creditors .. .. 186 259 224 130 124 134 270 210 Multilateral .. .. 95 244 219 119 122 124 240 202 Concessional .. .. 89 224 216 118 120 118 238 198 Bilateral .. .. 91 15 4 11 3 10 30 8 Concessional .. .. 91 15 4 10 3 3 25 8 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 6 0 0 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 20 6 0 0 0 0 0 0 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 74 148 131 79 97 52 149 156 PRINCIPAL REPAYMENTS .. .. 41 49 39 41 58 72 48 53 Public and publicly guaranteed .. .. 29 45 35 31 28 42 23 29 Official creditors .. .. 23 44 35 31 27 42 23 29 Multilateral .. .. 9 16 19 14 12 30 11 13 Concessional .. .. 4 9 11 7 8 19 6 8 Bilateral .. .. 13 28 16 16 15 12 12 16 Concessional .. .. 5 24 13 14 15 12 11 12 Private creditors .. .. 7 1 0 0 1 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 3 0 0 0 1 0 0 0 Other private .. .. 3 1 0 0 0 0 0 0 Private nonguaranteed .. .. 12 4 4 10 30 30 25 24 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 12 4 4 10 30 30 25 24 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 0 2 3 1 2 3 2 2 NET FLOWS ON DEBT .. .. 189 216 185 89 67 62 222 158 Public and publicly guaranteed .. .. 181 214 189 99 97 92 247 181 Official creditors .. .. 164 215 189 99 97 92 247 181 Multilateral .. .. 86 227 200 105 110 94 229 189 Concessional .. .. 85 216 205 111 111 99 232 191 Bilateral .. .. 77 -13 -12 -6 -12 -2 18 -8 Concessional .. .. 85 -9 -9 -4 -12 -9 15 -5 Private creditors .. .. 17 -1 0 0 -1 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. -3 0 0 0 -1 0 0 0 Other private .. .. 21 -1 0 0 0 0 0 0 Private nonguaranteed .. .. 8 2 -4 -10 -30 -30 -25 -24 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 8 2 -4 -10 -30 -30 -25 -24 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 74 147 128 78 96 49 147 154 374 MOZAMBIQUE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 23 41 36 41 20 8 15 23 Public and publicly guaranteed .. .. 22 41 28 33 20 8 15 23 Official creditors .. .. 17 40 28 33 20 8 15 23 Multilateral .. .. 7 16 17 13 9 6 11 12 Concessional .. .. 3 11 13 12 7 5 10 11 Bilateral .. .. 10 25 11 21 11 2 3 11 Concessional .. .. 6 16 10 20 10 2 3 10 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 8 8 0 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 0 1 8 8 0 0 0 0 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 1 8 9 11 4 4 5 6 NET TRANSFERS ON DEBT .. .. 166 175 149 47 47 54 208 135 Public and publicly guaranteed .. .. 158 173 161 65 77 84 233 158 Official creditors .. .. 147 174 161 66 77 84 233 158 Multilateral .. .. 80 212 184 92 101 88 218 177 Concessional .. .. 82 205 193 99 105 93 222 179 Bilateral .. .. 67 -38 -23 -26 -24 -4 15 -19 Concessional .. .. 79 -25 -19 -25 -21 -10 12 -14 Private creditors .. .. 11 -1 0 -1 -1 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. -5 0 0 -1 -1 0 0 0 Other private .. .. 16 -1 0 0 0 0 0 0 Private nonguaranteed .. .. 8 1 -12 -18 -30 -30 -25 -24 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 8 1 -12 -18 -30 -30 -25 -24 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 73 139 119 67 92 44 142 147 DEBT SERVICE (LTDS) .. .. 64 91 75 82 78 80 62 76 Public and publicly guaranteed .. .. 52 86 63 65 48 50 37 52 Official creditors .. .. 39 85 63 64 47 50 37 52 Multilateral .. .. 16 32 36 27 20 36 22 25 Concessional .. .. 7 20 23 19 15 25 16 19 Bilateral .. .. 23 53 27 37 27 14 15 27 Concessional .. .. 11 40 23 35 24 14 14 22 Private creditors .. .. 12 1 0 1 1 0 0 0 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 5 0 0 1 1 0 0 0 Other private .. .. 8 1 0 0 0 0 0 0 Private nonguaranteed .. .. 12 5 12 18 30 30 25 24 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks and other .. .. 12 5 12 18 30 30 25 24 Memo: IBRD .. .. 0 0 0 0 0 0 0 0 IDA .. .. 1 9 12 12 6 7 6 9 UNDISBURSED DEBT .. .. 835 892 716 873 926 1,072 1,128 1,070 Official creditors .. .. 822 892 716 873 926 1,072 1,128 1,070 Private creditors .. .. 13 0 0 0 0 0 0 0 Memorandum items Concessional LDOD .. .. 2,083 3,185 4,055 3,515 3,480 2,170 2,533 2,829 Variable rate LDOD .. .. 290 2,352 2,156 2,122 2,089 1,564 1,530 1,415 Public sector LDOD .. .. 4,211 5,211 5,960 4,643 4,545 2,321 2,683 2,992 Private sector LDOD .. .. 19 1,912 1,757 1,747 1,717 1,550 1,513 1,389 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 7.7 7.6 6.0 Deutsche mark .. .. 5.0 4.0 3.9 4.3 4.1 .. .. .. French franc .. .. 12.1 8.8 8.8 9.3 8.8 .. .. .. Japanese yen .. .. 1.8 1.7 1.8 2.1 1.9 0.0 0.0 0.0 Pound sterling .. .. 2.4 2.2 2.0 2.5 2.2 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 .. .. 52.8 61.8 62.0 65.9 67.7 72.4 71.4 72.3 Multiple currency .. .. 4.7 8.4 8.0 6.1 5.7 7.8 7.0 6.9 Special drawing rights .. .. 1.3 1.1 1.1 1.5 1.5 3.1 3.1 3.2 All other currencies .. .. 19.8 12.0 12.5 8.3 8.2 9.0 10.8 11.5 375 MOZAMBIQUE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 386 132 596 669 0 290 0 0 Debt stock rescheduled .. .. 0 0 3 0 0 264 0 0 Principal rescheduled .. .. 225 50 142 386 1 2 0 0 Official .. .. 133 48 141 386 1 2 0 0 Private .. .. 92 2 0 0 0 0 0 0 Interest rescheduled .. .. 118 64 84 83 0 3 0 0 Official .. .. 83 63 84 83 0 3 0 0 Private .. .. 35 1 0 0 0 0 0 0 Debt forgiven .. .. 210 215 21 41 7 27 28 82 Memo: interest forgiven .. .. 14 8 0 1 2 289 2 2 Debt stock reduction .. .. 950 0 7 819 37 2,241 5 0 of which debt buyback .. .. 0 0 0 325 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 287 66 657 -1,313 69 -2,482 202 164 Net flows on debt .. .. 173 335 192 213 62 180 82 96 Net change in interest arrears .. .. -62 38 47 -91 241 -174 20 33 Interest capitalized .. .. 118 64 84 83 0 3 0 0 Debt forgiveness or reduction .. .. -1,160 -215 -28 -535 -44 -2,267 -33 -82 Cross-currency valuation .. .. 176 -322 -13 -947 -262 -91 121 158 Residual .. .. 1,041 166 375 -36 72 -132 12 -42 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 1.4 1.5 0.8 0.7 0.8 0.8 0.9 0.8 Maturity (years) .. .. 35.0 41.9 42.9 40.6 46.7 39.4 35.8 43.4 Grace period (years) .. .. 9.2 9.7 10.5 10.2 12.9 0.4 9.2 10.3 Grant element (%) .. .. 71.8 73.5 81.6 80.8 82.9 78.7 76.0 81.0 Official creditors Interest (%) .. .. 1.3 1.5 0.8 0.7 0.8 0.8 0.9 0.8 Maturity (years) .. .. 35.2 41.9 42.9 40.6 46.7 39.4 35.8 43.4 Grace period (years) .. .. 9.2 9.7 10.5 10.2 12.9 0.4 9.2 10.3 Grant element (%) .. .. 72.3 73.5 81.6 80.8 82.9 78.7 76.0 81.0 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 .. .. 177 303 51 310 238 331 267 69 Official creditors .. .. 176 303 51 310 238 331 267 69 Private creditors .. .. 1 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 194 208 182 149 125 81 60 34 21 9 Principal 114 119 125 129 133 132 139 147 157 126 Interest 49 48 46 45 44 42 40 38 36 34 Official creditors Disbursements 194 208 182 149 125 81 60 34 21 9 Principal 90 94 95 99 101 100 109 115 122 89 Interest 44 43 43 41 40 38 37 35 33 31 Bilateral creditors Disbursements 4 3 2 1 1 1 0 0 0 0 Principal 60 60 60 60 58 57 57 56 57 19 Interest 26 24 23 21 19 17 16 14 12 11 Multilateral creditors Disbursements 190 205 180 148 124 81 59 34 20 9 Principal 31 33 34 39 43 44 52 58 64 71 Interest 18 19 20 20 21 21 21 21 20 20 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 23 26 30 30 32 32 30 32 36 37 Interest 5 5 4 4 4 4 3 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 23 26 30 30 32 32 30 32 36 37 Interest 5 5 4 4 4 4 3 3 3 3 376 MYANMAR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 123 1,500 4,695 5,503 5,647 6,004 5,928 5,670 6,583 7,318 Long-term debt (LDOD) 106 1,390 4,466 5,069 5,053 5,337 5,242 5,007 5,391 5,857 Public and publicly guaranteed 106 1,390 4,466 5,069 5,053 5,337 5,242 5,007 5,391 5,857 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 4 229 434 594 666 686 664 1,192 1,461 of which interest arrears on LDOD 0 0 200 390 456 509 488 500 632 745 Official creditors 0 0 168 332 401 459 442 454 577 684 Private creditors 0 0 32 58 55 50 46 46 54 61 Memo: principal arrears on LDOD 0 0 376 1,349 1,532 1,803 1,738 1,802 2,203 2,613 Official creditors 0 0 291 1,113 1,290 1,562 1,516 1,583 1,958 2,343 Private creditors 0 0 85 236 241 241 222 218 245 270 Memo: export credits 0 0 282 747 412 368 254 229 294 343 TOTAL DEBT FLOWS Disbursements 22 282 122 615 214 64 15 9 5 3 Long-term debt 22 269 122 615 214 64 15 9 5 3 IMF purchases 0 13 0 0 0 0 0 0 0 0 Principal repayments 20 89 46 101 79 64 71 70 94 93 Long-term debt 20 66 44 101 79 64 71 70 94 93 IMF repurchases 0 23 2 0 0 0 0 0 0 0 Net flows on debt 1 171 91 544 230 18 -16 -95 308 66 of which short-term debt 0 -22 14 29 94 19 41 -34 397 155 Interest payments (INT) 3 52 14 15 14 32 16 13 19 28 Long-term debt 3 45 13 13 9 24 4 5 8 14 IMF charges 0 4 0 0 0 0 0 0 0 0 Short-term debt 0 3 2 2 5 8 12 8 11 14 Net transfers on debt -2 119 76 529 216 -14 -31 -109 289 38 Total debt service paid (TDS) 23 141 60 116 93 96 87 84 113 121 Long-term debt 23 112 57 114 88 88 75 76 102 107 IMF repurchases and charges 0 26 2 0 0 0 0 0 0 0 Short-term debt (interest only) 0 3 2 2 5 8 12 8 11 14 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 16 269 278 978 520 284 247 213 178 114 Net flow of long-term debt (ex. IMF) 1 202 78 514 135 -1 -56 -61 -89 -90 Foreign direct investment (net) 0 0 163 391 318 256 258 210 191 134 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 15 66 37 73 67 29 45 64 75 70 Memo: technical coop. grants 6 31 34 32 35 39 51 56 60 53 official net resource flows 9 240 123 45 119 42 55 65 47 16 private net resource flows 6 29 155 933 401 242 192 147 131 98 NET TRANSFERS 13 224 118 965 512 225 107 -280 -416 -513 Interest on long-term debt 3 45 13 13 9 24 4 5 8 14 Profit remittances on FDI 0 0 147 0 0 35 137 488 585 613 Memo: official net transfers 7 219 113 35 116 22 55 63 40 3 private net transfers 5 5 5 930 396 203 51 -344 -456 -516 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. .. .. .. .. .. .. .. Exports of goods, serv. & inc. (XGS) .. 499 328 1,665 1,859 1,955 2,252 2,963 3,037 2,892 Worker remit. & comp. of employees 0 0 6 149 137 136 104 117 108 78 Imports of goods & services (MGS) .. 931 797 2,594 2,858 2,527 2,662 3,249 3,107 2,920 International reserves (RES) 98 409 410 317 382 333 286 464 549 647 Current account balance .. -350 -436 -416 -499 -285 -212 -169 10 50 4. DEBT INDICATORS EDT / XGS (%) .. 300.3 1,433.2 330.4 303.8 307.1 263.3 191.4 216.8 253.0 EDT / GNI (%) .. .. .. .. .. .. .. .. .. .. TDS / XGS (%) .. 28.3 18.4 7.0 5.0 4.9 3.9 2.8 3.7 4.2 INT / XGS (%) .. 10.5 4.4 0.9 0.8 1.6 0.7 0.5 0.6 1.0 INT / GNI (%) .. .. .. .. .. .. .. .. .. .. RES / EDT (%) 80.2 27.2 8.7 5.8 6.8 5.5 4.8 8.2 8.3 8.8 RES / MGS (months) .. 5.3 6.2 1.5 1.6 1.6 1.3 1.7 2.1 2.7 Short-term / EDT (%) 0.0 0.3 4.9 7.9 10.5 11.1 11.6 11.7 18.1 20.0 Concessional / EDT (%) 45.9 72.7 87.6 74.1 77.5 78.4 70.4 70.7 66.9 66.5 Multilateral / EDT (%) 12.1 18.7 26.3 21.3 21.2 20.8 19.4 20.0 18.5 17.9 377 MYANMAR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 106 1,390 4,466 5,069 5,053 5,337 5,242 5,007 5,391 5,857 Public and publicly guaranteed 106 1,390 4,466 5,069 5,053 5,337 5,242 5,007 5,391 5,857 Official creditors 72 1,109 4,216 4,177 4,476 4,806 4,262 4,095 4,506 4,979 Multilateral 15 280 1,234 1,171 1,199 1,250 1,148 1,133 1,216 1,308 Concessional 0 274 1,228 1,170 1,199 1,250 1,148 1,133 1,216 1,308 Bilateral 57 829 2,982 3,006 3,277 3,555 3,114 2,962 3,290 3,672 Concessional 56 817 2,884 2,909 3,175 3,453 3,024 2,876 3,188 3,556 Private creditors 34 281 250 892 577 531 980 911 884 878 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 51 0 440 38 4 546 546 546 546 Other private 34 231 250 452 539 527 434 365 338 332 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 0 146 716 724 727 723 684 693 729 762 DISBURSEMENTS 22 269 122 615 214 64 15 9 5 3 Public and publicly guaranteed 22 269 122 615 214 64 15 9 5 3 Official creditors 2 199 119 33 100 34 12 7 5 3 Multilateral 0 38 68 0 0 0 1 2 1 1 Concessional 0 38 68 0 0 0 1 2 1 1 Bilateral 2 161 51 33 100 34 11 6 3 2 Concessional 2 160 51 33 100 34 11 6 3 2 Private creditors 19 70 3 583 114 29 3 2 1 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 15 0 440 0 0 0 0 0 0 Other private 19 55 3 143 114 29 3 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 0 0 0 0 0 0 0 0 IDA 0 23 57 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 20 66 44 101 79 64 71 70 94 93 Public and publicly guaranteed 20 66 44 101 79 64 71 70 94 93 Official creditors 8 25 33 61 48 22 2 6 34 57 Multilateral 2 0 15 19 2 4 2 2 2 2 Concessional 0 0 14 18 2 4 2 2 2 2 Bilateral 5 25 18 42 46 18 0 4 31 55 Concessional 5 18 18 42 45 17 0 4 31 55 Private creditors 13 41 11 40 31 43 69 65 61 35 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 40 31 43 69 65 61 35 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 7 0 0 0 0 0 0 NET FLOWS ON DEBT 1 202 78 514 135 -1 -56 -61 -89 -90 Public and publicly guaranteed 1 202 78 514 135 -1 -56 -61 -89 -90 Official creditors -5 173 86 -28 52 13 10 2 -29 -55 Multilateral -2 38 53 -19 -2 -4 -1 0 -1 -1 Concessional 0 38 54 -18 -2 -4 -1 0 -1 -1 Bilateral -3 135 33 -9 54 17 11 2 -28 -53 Concessional -2 142 33 -9 55 18 11 2 -28 -53 Private creditors 6 29 -8 542 83 -13 -66 -63 -60 -35 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 440 0 0 0 0 0 0 Other private 6 27 -8 102 83 -13 -66 -63 -60 -35 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 -7 0 0 0 0 0 0 378 MYANMAR (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 3 45 13 13 9 24 4 5 8 14 Public and publicly guaranteed 3 45 13 13 9 24 4 5 8 14 Official creditors 2 21 10 10 3 20 0 2 7 13 Multilateral 1 3 10 7 0 1 0 0 0 0 Concessional 0 2 10 7 0 1 0 0 0 0 Bilateral 1 19 0 3 3 19 0 2 6 12 Concessional 1 17 0 1 2 17 0 2 6 12 Private creditors 1 24 2 3 5 4 3 3 1 2 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 5 4 3 3 1 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 1 0 0 0 0 0 0 0 0 0 IDA 0 1 5 4 0 0 0 0 0 0 NET TRANSFERS ON DEBT -2 157 65 501 127 -24 -60 -67 -97 -104 Public and publicly guaranteed -2 157 65 501 127 -24 -60 -67 -97 -104 Official creditors -7 152 76 -38 49 -7 10 -1 -35 -67 Multilateral -3 36 43 -26 -3 -4 -1 0 -1 -2 Concessional 0 36 44 -25 -3 -4 -1 0 -1 -2 Bilateral -4 117 33 -13 52 -2 11 0 -34 -65 Concessional -3 125 33 -10 53 0 11 0 -34 -65 Private creditors 5 5 -10 539 78 -18 -70 -66 -62 -37 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -6 0 440 0 0 0 0 0 0 Other private 5 11 -10 99 78 -18 -70 -66 -62 -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 -3 0 0 0 0 0 0 0 0 0 IDA 0 22 48 -11 0 0 0 0 0 0 DEBT SERVICE (LTDS) 23 112 57 114 88 88 75 76 102 107 Public and publicly guaranteed 23 112 57 114 88 88 75 76 102 107 Official creditors 10 47 44 71 51 41 2 8 40 70 Multilateral 3 3 25 26 3 5 2 2 3 2 Concessional 0 2 24 25 3 5 2 2 3 2 Bilateral 6 44 19 45 49 37 0 6 38 67 Concessional 6 35 19 43 47 34 0 6 38 67 Private creditors 14 65 13 43 36 47 73 68 62 37 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 43 36 47 73 68 62 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 3 0 0 0 0 0 0 0 0 0 IDA 0 1 9 11 0 0 0 0 0 0 UNDISBURSED DEBT 106 1,282 914 745 560 551 34 25 12 10 Official creditors 74 1,072 890 615 507 528 32 23 12 10 Private creditors 32 210 24 130 52 23 3 1 0 0 Memorandum items Concessional LDOD 56 1,090 4,112 4,079 4,374 4,704 4,172 4,009 4,404 4,863 Variable rate LDOD 0 69 0 440 38 4 546 546 546 546 Public sector LDOD 106 1,390 4,466 5,069 5,053 5,337 5,242 5,007 5,391 5,857 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 12.2 Deutsche mark 15.4 11.6 12.4 10.3 10.5 8.8 8.4 .. .. .. French franc 0.0 2.6 3.0 1.2 1.2 1.0 1.0 .. .. .. Japanese yen 0.0 42.8 46.8 44.5 48.8 52.5 45.3 44.2 45.1 46.9 Pound sterling 31.2 4.3 1.7 1.5 1.4 1.3 1.2 1.3 1.3 1.4 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 33.4 28.5 26.2 34.9 35.5 32.8 30.6 Multiple currency 14.0 7.7 7.6 6.0 6.4 6.9 6.1 6.0 6.2 6.5 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 17.7 7.5 4.1 3.1 3.3 3.2 3.1 2.5 2.6 2.4 379 MYANMAR (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 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 .. .. 504 319 144 357 -76 -258 913 735 Net flows on debt 1 171 91 544 230 18 -16 -95 308 66 Net change in interest arrears .. .. 90 24 66 54 -21 11 132 113 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 -296 216 301 -577 -173 468 555 Residual .. .. 18 47 -367 -16 538 0 5 1 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.2 3.5 2.7 7.0 3.3 0.0 0.0 0.0 0.0 0.0 Maturity (years) 15.6 29.0 13.7 12.5 7.6 0.0 0.0 0.0 0.0 0.0 Grace period (years) 4.4 7.4 3.4 1.4 3.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 32.1 52.2 39.3 12.7 25.8 0.0 0.0 0.0 0.0 0.0 Official creditors Interest (%) 2.7 1.6 1.5 2.8 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 28.3 37.0 16.7 15.6 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 7.9 9.6 5.2 5.5 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 56.9 71.0 53.3 43.4 0.0 0.0 0.0 0.0 0.0 0.0 Private creditors Interest (%) 5.3 8.0 3.5 7.2 3.3 0.0 0.0 0.0 0.0 0.0 Maturity (years) 6.3 10.4 11.6 12.4 7.6 0.0 0.0 0.0 0.0 0.0 Grace period (years) 1.8 2.2 2.1 1.2 3.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 13.9 8.5 29.4 11.7 25.8 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 42 605 42 514 27 0 0 0 0 0 Official creditors 18 423 17 16 0 0 0 0 0 0 Private creditors 24 182 24 498 27 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 2 1 1 1 0 0 0 0 0 0 Principal 340 320 307 291 284 263 228 129 120 106 Interest 56 49 43 36 30 24 18 14 12 10 Official creditors Disbursements 2 1 1 1 0 0 0 0 0 0 Principal 229 222 220 212 206 185 149 129 120 106 Interest 39 35 31 27 23 20 17 14 12 10 Bilateral creditors Disbursements 1 1 0 0 0 0 0 0 0 0 Principal 164 162 160 153 146 127 91 70 62 44 Interest 28 25 21 18 15 11 9 7 5 4 Multilateral creditors Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 65 61 60 59 60 58 58 58 59 62 Interest 11 11 10 9 9 8 8 7 7 6 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 110 98 86 79 78 78 78 0 0 0 Interest 17 14 11 9 7 4 2 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 78 78 78 78 78 78 78 0 0 0 Interest 16 14 11 9 7 4 2 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 32 20 8 1 0 0 0 0 0 0 Interest 1 0 0 0 0 0 0 0 0 0 380 NEPAL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 3 205 1,640 2,390 2,646 2,993 2,846 2,716 2,972 3,253 Long-term debt (LDOD) 3 156 1,572 2,332 2,591 2,933 2,805 2,654 2,929 3,176 Public and publicly guaranteed 3 156 1,572 2,332 2,591 2,933 2,805 2,654 2,929 3,176 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 42 44 30 24 18 12 8 4 11 Short-term debt 0 7 24 28 31 43 29 54 40 66 of which interest arrears on LDOD 0 0 4 1 1 0 0 0 0 0 Official creditors 0 0 4 1 1 0 0 0 0 0 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 0 6 9 9 2 1 1 0 0 Official creditors 0 0 6 4 4 1 1 1 0 0 Private creditors 0 0 0 5 4 1 0 0 0 0 Memo: export credits 0 0 109 82 16 14 13 14 11 32 TOTAL DEBT FLOWS Disbursements 1 68 168 214 177 168 154 112 70 240 Long-term debt 1 50 168 214 177 168 154 112 70 230 IMF purchases 0 18 0 0 0 0 0 0 0 10 Principal repayments 2 3 41 70 61 75 72 65 74 82 Long-term debt 2 2 29 63 54 69 67 61 70 79 IMF repurchases 0 1 12 7 7 6 4 4 4 3 Net flows on debt -2 61 129 146 118 106 69 71 -19 184 of which short-term debt 0 -5 2 3 2 13 -14 25 -14 26 Interest payments (INT) 0 5 29 28 27 32 30 28 28 31 Long-term debt 0 2 25 26 26 30 28 26 27 30 IMF charges 0 1 2 0 0 0 0 0 0 0 Short-term debt 0 2 2 1 2 2 3 2 1 1 Net transfers on debt -2 56 100 119 91 74 38 44 -47 153 Total debt service paid (TDS) 2 8 70 98 88 107 102 93 102 113 Long-term debt 2 4 54 89 80 99 95 87 97 109 IMF repurchases and charges 0 1 14 7 7 6 4 4 4 3 Short-term debt (interest only) 0 2 2 1 2 2 3 2 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7 127 282 313 251 247 230 234 198 383 Net flow of long-term debt (ex. IMF) -2 48 139 151 123 99 86 51 0 151 Foreign direct investment (net) 0 0 0 23 12 0 0 0 -6 15 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 9 79 143 140 117 148 143 183 204 218 Memo: technical coop. grants 8 50 106 133 138 107 108 123 132 150 official net resource flows 7 127 296 307 252 260 238 234 205 369 private net resource flows 0 0 -14 6 -1 -13 -8 0 -6 14 NET TRANSFERS 7 125 257 287 226 217 202 208 127 312 Interest on long-term debt 0 2 25 26 26 30 28 26 27 30 Profit remittances on FDI 0 0 0 0 0 0 0 0 45 42 Memo: official net transfers 7 125 282 285 230 232 211 208 178 339 private net transfers 0 0 -25 2 -4 -15 -9 0 -51 -28 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 866 1,958 3,640 4,926 4,863 5,046 5,514 5,598 5,554 5,843 Exports of goods, serv. & inc. (XGS) .. 272 447 1,361 1,160 1,407 1,466 1,351 1,649 1,873 Worker remit. & comp. of employees 0 0 0 49 68 83 111 147 678 785 Imports of goods & services (MGS) .. 419 845 1,945 1,462 1,735 1,825 1,759 1,733 2,016 International reserves (RES) 94 272 354 671 800 889 987 1,080 1,070 1,286 Current account balance .. -39 -289 -388 -67 -79 -131 -165 215 171 4. DEBT INDICATORS EDT / XGS (%) .. 75.3 366.6 175.7 228.1 212.8 194.2 201.0 180.2 173.7 EDT / GNI (%) 0.3 10.4 45.1 48.5 54.4 59.3 51.6 48.5 53.5 55.7 TDS / XGS (%) .. 2.9 15.7 7.2 7.6 7.6 7.0 6.9 6.2 6.0 INT / XGS (%) .. 1.9 6.5 2.0 2.4 2.3 2.1 2.1 1.7 1.6 INT / GNI (%) 0.0 0.3 0.8 0.6 0.6 0.6 0.5 0.5 0.5 0.5 RES / EDT (%) 3,366.8 133.0 21.6 28.1 30.2 29.7 34.7 39.8 36.0 39.5 RES / MGS (months) .. 7.8 5.0 4.1 6.6 6.2 6.5 7.4 7.4 7.7 Short-term / EDT (%) 0.0 3.4 1.5 1.2 1.2 1.4 1.0 2.0 1.3 2.0 Concessional / EDT (%) 69.5 75.7 88.5 95.8 96.7 97.5 98.4 97.6 98.3 97.4 Multilateral / EDT (%) 7.2 62.0 77.3 83.2 84.4 84.9 86.3 86.7 88.1 84.2 381 NEPAL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 3 156 1,572 2,332 2,591 2,933 2,805 2,654 2,929 3,176 Public and publicly guaranteed 3 156 1,572 2,332 2,591 2,933 2,805 2,654 2,929 3,176 Official creditors 2 156 1,461 2,291 2,561 2,920 2,800 2,650 2,923 3,170 Multilateral 0 127 1,268 1,989 2,233 2,541 2,457 2,354 2,619 2,738 Concessional 0 126 1,259 1,987 2,231 2,541 2,457 2,354 2,619 2,738 Bilateral 2 29 193 302 328 379 343 295 304 432 Concessional 2 28 193 302 328 379 343 295 304 432 Private creditors 1 0 110 41 29 13 5 5 5 6 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 41 29 13 5 5 5 6 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 1,047 1,131 1,147 1,132 1,122 1,210 1,388 DISBURSEMENTS 1 50 168 214 177 168 154 112 70 230 Public and publicly guaranteed 1 50 168 214 177 168 154 112 70 230 Official creditors 1 50 166 211 177 168 154 112 70 230 Multilateral 0 36 146 159 167 123 142 103 65 116 Concessional 0 36 146 159 167 123 142 103 65 116 Bilateral 0 14 20 52 10 45 11 9 5 114 Concessional 0 14 20 52 10 45 11 9 5 114 Private creditors 0 0 2 3 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 2 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 0 0 0 0 0 0 0 0 0 0 IDA 0 25 68 55 63 48 49 43 34 102 PRINCIPAL REPAYMENTS 2 2 29 63 54 69 67 61 70 79 Public and publicly guaranteed 2 2 29 63 54 69 67 61 70 79 Official creditors 2 2 13 43 42 56 60 61 70 78 Multilateral 0 2 10 28 26 36 37 38 45 51 Concessional 0 2 10 28 26 33 37 38 45 51 Bilateral 2 0 3 15 15 21 22 23 24 28 Concessional 1 0 3 15 15 21 22 23 24 28 Private creditors 0 0 16 20 13 13 8 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 16 20 13 13 8 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 9 11 14 16 17 20 22 NET FLOWS ON DEBT -2 48 139 151 123 99 86 51 0 151 Public and publicly guaranteed -2 48 139 151 123 99 86 51 0 151 Official creditors -2 48 153 168 135 111 94 51 0 151 Multilateral 0 34 136 131 141 87 105 65 19 65 Concessional 0 35 136 131 141 89 105 65 19 65 Bilateral -2 14 17 36 -5 24 -11 -14 -19 86 Concessional 0 14 17 36 -5 24 -11 -14 -19 86 Private creditors 0 0 -14 -17 -13 -13 -8 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 -14 -17 -13 -13 -8 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 65 45 52 34 33 26 14 79 382 NEPAL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 2 25 26 26 30 28 26 27 30 Public and publicly guaranteed 0 2 25 26 26 30 28 26 27 30 Official creditors 0 2 14 22 22 28 27 26 27 30 Multilateral 0 1 10 17 18 23 22 21 22 23 Concessional 0 1 10 17 18 22 22 21 22 23 Bilateral 0 1 4 5 5 5 5 4 5 7 Concessional 0 1 4 5 5 5 5 4 5 7 Private creditors 0 0 12 4 3 2 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 0 0 12 4 3 2 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 0 0 0 0 0 0 0 0 0 IDA 0 0 5 8 8 8 8 8 9 9 NET TRANSFERS ON DEBT -2 46 114 124 97 69 59 25 -27 121 Public and publicly guaranteed -2 46 114 124 97 69 59 25 -27 121 Official creditors -2 46 139 146 113 83 68 25 -27 122 Multilateral 0 33 126 115 123 64 84 43 -3 43 Concessional 0 34 126 115 123 68 84 43 -3 43 Bilateral -2 13 13 31 -10 19 -16 -18 -24 79 Concessional 0 13 13 31 -10 19 -16 -18 -24 79 Private creditors 0 0 -25 -21 -16 -15 -9 0 -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 0 -25 -21 -16 -15 -9 0 -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 25 61 38 44 25 25 18 6 70 DEBT SERVICE (LTDS) 2 4 54 89 80 99 95 87 97 109 Public and publicly guaranteed 2 4 54 89 80 99 95 87 97 109 Official creditors 2 4 27 65 64 84 86 86 96 108 Multilateral 0 3 20 45 44 59 59 59 67 73 Concessional 0 3 20 45 44 55 59 59 67 73 Bilateral 2 1 7 21 20 26 28 27 29 35 Concessional 1 1 7 21 20 26 28 27 29 35 Private creditors 0 0 27 24 16 15 9 0 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 0 27 24 16 15 9 0 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 0 7 17 19 22 24 25 28 31 UNDISBURSED DEBT 26 366 1,318 938 848 742 557 642 679 719 Official creditors 26 366 1,307 938 848 742 557 642 679 719 Private creditors 0 0 10 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 2 155 1,452 2,289 2,559 2,920 2,800 2,650 2,923 3,170 Variable rate LDOD 0 0 0 0 0 0 0 0 0 0 Public sector LDOD 3 156 1,566 2,332 2,590 2,932 2,805 2,654 2,929 3,176 Private sector LDOD 0 0 5 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.2 2.4 2.5 Deutsche mark 20.4 0.0 0.9 0.2 0.2 0.1 0.1 .. .. .. French franc 0.0 0.2 2.0 1.6 1.5 1.4 1.6 .. .. .. Japanese yen 0.0 7.9 8.4 10.2 9.9 9.5 8.5 7.4 6.9 10.5 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 42.5 41.4 36.7 38.7 41.2 40.4 42.9 Multiple currency 3.9 31.2 32.6 36.5 37.7 43.2 42.0 40.5 42.0 36.4 Special drawing rights 0.0 0.0 2.7 7.1 7.4 6.7 6.7 6.8 6.6 6.6 All other currencies 16.5 11.0 3.6 1.7 1.8 2.3 2.4 1.8 1.5 1.1 383 NEPAL (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 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 2 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 .. .. 272 -20 255 347 -147 -130 256 281 Net flows on debt -2 61 129 146 118 106 69 71 -19 184 Net change in interest arrears .. .. 1 0 0 -1 0 0 0 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 -2 0 0 0 0 Cross-currency valuation .. .. 126 -180 119 48 -188 -174 221 276 Residual .. .. 15 14 18 197 -28 -28 54 -179 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.8 0.8 0.9 0.8 3.3 0.7 1.4 1.3 1.1 0.9 Maturity (years) 26.9 46.0 39.2 36.8 38.3 39.5 31.4 31.0 35.6 37.4 Grace period (years) 6.2 10.2 10.3 9.7 9.8 10.3 8.1 8.3 11.4 9.7 Grant element (%) 53.1 81.2 78.8 77.3 56.9 80.7 69.5 69.9 76.3 77.6 Official creditors Interest (%) 2.8 0.8 0.9 0.8 3.3 0.7 1.4 1.3 1.1 0.9 Maturity (years) 26.9 46.0 39.2 36.8 38.3 39.5 31.4 31.0 35.6 37.4 Grace period (years) 6.2 10.2 10.3 9.7 9.8 10.3 8.1 8.3 11.4 9.7 Grant element (%) 53.1 81.2 78.8 77.3 56.9 80.7 69.5 69.9 76.3 77.6 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 17 92 219 191 84 87 86 249 71 201 Official creditors 17 92 219 191 84 87 86 249 71 201 Private creditors 0 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 186 167 122 90 62 41 27 15 9 0 Principal 80 87 97 110 121 131 141 145 146 148 Interest 34 35 37 42 42 41 40 38 37 35 Official creditors Disbursements 186 167 122 90 62 41 27 15 9 0 Principal 79 87 96 110 120 130 140 145 146 148 Interest 34 35 36 42 42 41 40 38 37 35 Bilateral creditors Disbursements 53 29 17 10 3 1 1 0 0 0 Principal 25 26 26 34 34 33 34 34 31 28 Interest 7 7 7 6 6 5 5 4 3 3 Multilateral creditors Disbursements 133 138 106 80 59 40 27 15 9 0 Principal 54 61 70 76 86 97 106 111 115 120 Interest 27 28 30 35 36 36 35 34 33 32 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 0 384 NICARAGUA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 203 2,193 10,745 6,229 6,450 6,909 6,853 6,408 6,485 6,915 Long-term debt (LDOD) 147 1,671 8,313 5,364 5,663 5,889 5,774 5,577 5,756 6,106 Public and publicly guaranteed 147 1,671 8,313 5,364 5,636 5,779 5,492 5,437 5,576 5,898 Private nonguaranteed 0 0 0 0 28 110 281 140 181 209 Use of IMF credit 8 49 0 27 52 155 169 158 174 213 Short-term debt 48 472 2,432 837 735 865 911 674 554 595 of which interest arrears on LDOD 0 12 1,693 573 687 745 789 535 420 434 Official creditors 0 5 1,067 561 672 733 776 521 407 421 Private creditors 0 8 626 12 15 12 13 14 13 14 Memo: principal arrears on LDOD 0 32 2,464 917 1,378 1,447 1,035 964 801 807 Official creditors 0 13 1,491 695 1,158 1,226 820 747 588 593 Private creditors 0 19 973 222 220 220 216 217 213 213 Memo: export credits 0 0 643 698 803 751 746 811 1,102 1,025 TOTAL DEBT FLOWS Disbursements 54 276 577 610 280 509 527 308 296 357 Long-term debt 44 276 577 610 258 402 500 308 287 328 IMF purchases 10 0 0 0 23 107 27 0 9 29 Principal repayments 29 46 4 182 86 99 189 263 104 143 Long-term debt 16 45 4 182 86 96 183 258 100 138 IMF repurchases 13 1 0 0 0 3 5 5 4 5 Net flows on debt 24 345 593 390 -22 482 341 62 188 241 of which short-term debt 0 115 21 -38 -217 71 3 17 -4 26 Interest payments (INT) 7 69 11 144 169 87 98 73 48 62 Long-term debt 7 42 5 129 91 82 90 68 43 55 IMF charges 0 3 0 0 0 1 1 1 1 1 Short-term debt 0 25 6 15 78 5 7 5 4 6 Net transfers on debt 18 276 582 246 -191 394 243 -11 140 179 Total debt service paid (TDS) 36 115 16 326 255 186 286 337 151 205 Long-term debt 23 86 9 311 176 178 274 326 142 193 IMF repurchases and charges 13 3 0 0 0 3 6 6 5 6 Short-term debt (interest only) 0 25 6 15 78 5 7 5 4 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 43 279 813 849 746 969 838 838 617 887 Net flow of long-term debt (ex. IMF) 28 231 572 428 172 306 317 50 187 191 Foreign direct investment (net) 15 0 0 203 218 337 267 150 204 201 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 0 48 241 218 356 326 255 637 226 495 Memo: technical coop. grants 4 19 73 111 95 94 116 140 112 103 official net resource flows 28 305 793 662 540 550 406 807 381 657 private net resource flows 14 -26 20 187 206 419 432 31 236 230 NET TRANSFERS 36 217 808 667 597 825 678 693 503 755 Interest on long-term debt 7 42 5 129 91 82 90 68 43 55 Profit remittances on FDI 0 21 0 53 58 62 69 77 71 77 Memo: official net transfers 25 268 789 539 453 474 331 755 344 610 private net transfers 11 -51 19 128 144 350 347 -62 159 145 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 717 2,019 988 3,119 3,387 3,545 3,748 3,809 3,903 3,975 Exports of goods, serv. & inc. (XGS) .. 514 404 1,066 1,171 1,294 1,453 1,485 1,529 1,744 Worker remit. & comp. of employees 0 0 0 150 200 300 320 336 377 439 Imports of goods & services (MGS) .. 1,049 911 1,992 1,989 2,382 2,377 2,416 2,398 2,603 International reserves (RES) 49 75 166 382 355 514 492 384 453 508 Current account balance .. -411 -305 -841 -687 -928 -792 -785 -784 -780 4. DEBT INDICATORS EDT / XGS (%) .. 426.6 2,659.6 584.1 551.0 534.1 471.8 431.6 424.3 396.6 EDT / GNI (%) 28.3 108.6 1,087.8 199.7 190.4 194.9 182.9 168.3 166.2 173.9 TDS / XGS (%) .. 22.3 3.9 30.6 21.8 14.4 19.7 22.7 9.9 11.7 INT / XGS (%) .. 13.4 2.8 13.5 14.4 6.7 6.7 4.9 3.1 3.5 INT / GNI (%) 0.9 3.4 1.2 4.6 5.0 2.5 2.6 1.9 1.2 1.6 RES / EDT (%) 24.3 3.4 1.5 6.1 5.5 7.4 7.2 6.0 7.0 7.3 RES / MGS (months) .. 0.9 2.2 2.3 2.1 2.6 2.5 1.9 2.3 2.3 Short-term / EDT (%) 23.7 21.5 22.6 13.4 11.4 12.5 13.3 10.5 8.5 8.6 Concessional / EDT (%) 29.2 21.5 30.6 40.9 43.1 42.5 45.2 51.2 54.4 57.8 Multilateral / EDT (%) 23.7 19.3 8.8 33.4 35.5 35.7 30.9 34.3 37.4 39.1 385 NICARAGUA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 147 1,671 8,313 5,364 5,663 5,889 5,774 5,577 5,756 6,106 Public and publicly guaranteed 147 1,671 8,313 5,364 5,636 5,779 5,492 5,437 5,576 5,898 Official creditors 102 866 6,767 4,968 5,251 5,405 5,138 5,093 5,230 5,547 Multilateral 48 424 940 2,080 2,288 2,467 2,119 2,200 2,424 2,702 Concessional 11 200 355 1,308 1,480 1,673 1,778 1,890 2,125 2,425 Bilateral 53 442 5,827 2,888 2,963 2,938 3,019 2,893 2,805 2,845 Concessional 49 271 2,929 1,241 1,301 1,265 1,319 1,392 1,406 1,571 Private creditors 45 805 1,545 396 385 374 354 344 346 350 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 38 746 1,305 362 355 344 326 321 324 327 Other private 8 59 240 34 30 30 29 23 22 23 Private nonguaranteed 0 0 0 0 28 110 281 140 181 209 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 28 110 281 140 181 209 Memo: IBRD 27 93 239 24 15 9 5 0 0 0 IDA 3 42 60 368 487 598 654 691 811 998 DISBURSEMENTS 44 276 577 610 258 402 500 308 287 328 Public and publicly guaranteed 44 276 577 610 258 284 215 235 220 255 Official creditors 32 276 554 605 255 278 213 231 212 248 Multilateral 11 90 7 560 219 208 170 184 202 221 Concessional 4 72 0 116 215 206 168 184 202 221 Bilateral 21 186 546 45 37 70 43 47 11 27 Concessional 19 108 370 40 27 66 34 21 11 27 Private creditors 12 0 23 5 2 6 2 3 8 7 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 12 0 0 5 2 0 0 0 7 6 Other private 0 0 23 0 0 6 2 3 1 1 Private nonguaranteed 0 0 0 0 0 118 285 74 66 74 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 118 285 74 66 74 Memo: IBRD 6 12 0 0 0 0 0 0 0 0 IDA 0 19 0 50 105 120 87 63 72 112 PRINCIPAL REPAYMENTS 16 45 4 182 86 96 183 258 100 138 Public and publicly guaranteed 16 45 4 182 86 59 70 68 60 86 Official creditors 3 19 1 161 71 54 61 62 58 85 Multilateral 2 14 1 85 37 28 36 30 10 16 Concessional 0 1 0 11 14 13 17 11 6 7 Bilateral 1 4 1 76 34 26 26 32 48 70 Concessional 0 2 0 15 4 6 8 10 22 42 Private creditors 13 26 3 21 15 5 8 6 3 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 10 20 0 9 10 4 5 3 2 1 Other private 2 6 3 12 5 1 3 3 0 0 Private nonguaranteed 0 0 0 0 0 38 114 191 39 52 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 38 114 191 39 52 Memo: IBRD 1 4 1 17 9 6 5 5 0 0 IDA 0 0 0 1 1 1 2 1 0 0 NET FLOWS ON DEBT 28 231 572 428 172 306 317 50 187 191 Public and publicly guaranteed 28 231 572 428 172 225 146 167 160 169 Official creditors 28 257 552 444 185 224 152 170 155 162 Multilateral 9 76 6 475 182 180 135 154 192 205 Concessional 4 71 0 105 201 193 152 173 196 214 Bilateral 20 181 546 -31 3 44 17 15 -37 -43 Concessional 18 106 370 25 23 61 26 11 -12 -16 Private creditors -1 -26 20 -16 -13 1 -6 -3 5 6 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 1 -20 0 -4 -8 -4 -5 -2 5 6 Other private -2 -6 20 -12 -5 5 -1 0 1 1 Private nonguaranteed 0 0 0 0 0 81 171 -117 27 22 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 81 171 -117 27 22 Memo: IBRD 4 8 -1 -17 -9 -6 -5 -5 0 0 IDA 0 19 0 49 104 119 86 62 72 112 386 NICARAGUA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 7 42 5 129 91 82 90 68 43 55 Public and publicly guaranteed 7 42 5 129 91 77 78 55 38 49 Official creditors 3 38 4 123 87 75 75 52 36 48 Multilateral 2 29 1 54 50 57 64 30 16 18 Concessional 0 7 0 11 28 29 37 14 10 13 Bilateral 1 8 3 68 37 18 12 22 21 30 Concessional 1 3 0 27 9 6 7 14 16 21 Private creditors 4 4 1 6 3 1 3 3 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 3 0 0 6 3 1 2 2 1 1 Other private 0 4 1 1 0 0 0 0 0 0 Private nonguaranteed 0 0 0 0 0 5 12 13 5 6 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 5 12 13 5 6 Memo: IBRD 1 11 1 3 2 6 1 0 0 0 IDA 0 0 0 3 3 4 5 2 2 3 NET TRANSFERS ON DEBT 21 190 567 299 81 224 226 -17 144 136 Public and publicly guaranteed 21 190 567 299 81 148 67 112 122 120 Official creditors 25 220 548 321 97 149 76 117 118 115 Multilateral 7 47 5 420 132 123 71 124 176 187 Concessional 4 64 0 94 174 164 114 159 186 201 Bilateral 19 173 543 -99 -35 26 5 -7 -58 -73 Concessional 18 103 370 -2 14 54 19 -3 -28 -36 Private creditors -4 -30 19 -22 -16 0 -9 -5 4 5 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks -2 -20 0 -9 -11 -5 -8 -5 3 5 Other private -2 -10 19 -13 -5 5 -1 0 1 1 Private nonguaranteed 0 0 0 0 0 76 159 -129 22 16 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 76 159 -129 22 16 Memo: IBRD 3 -3 -2 -20 -11 -11 -6 -5 0 0 IDA 0 19 0 47 101 115 81 59 70 109 DEBT SERVICE (LTDS) 23 86 9 311 176 178 274 326 142 193 Public and publicly guaranteed 23 86 9 311 176 135 148 123 98 135 Official creditors 7 56 5 284 158 129 137 114 94 133 Multilateral 5 43 2 140 87 85 99 60 26 34 Concessional 0 8 0 22 42 42 54 25 15 20 Bilateral 2 13 3 144 71 44 38 54 69 99 Concessional 1 5 0 42 13 12 15 25 39 63 Private creditors 16 30 4 27 18 6 11 8 4 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 14 20 0 14 13 5 8 5 3 2 Other private 3 10 4 13 5 1 3 4 1 0 Private nonguaranteed 0 0 0 0 0 43 126 203 44 58 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 43 126 203 44 58 Memo: IBRD 3 15 1 20 11 11 6 5 0 0 IDA 0 0 0 4 4 5 6 3 2 3 UNDISBURSED DEBT 62 449 573 418 761 678 633 796 873 740 Official creditors 52 418 562 408 753 669 613 780 863 736 Private creditors 9 30 11 10 8 10 21 16 10 4 Memorandum items Concessional LDOD 59 470 3,285 2,549 2,781 2,938 3,096 3,282 3,531 3,997 Variable rate LDOD 0 796 1,829 1,678 1,727 1,825 1,574 1,358 1,370 1,301 Public sector LDOD 138 1,656 8,313 5,356 5,632 5,776 5,547 5,512 5,683 6,015 Private sector LDOD 9 15 0 9 31 113 226 65 74 91 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 11.1 12.0 12.6 Deutsche mark 3.9 2.9 1.3 7.0 7.6 6.6 6.5 .. .. .. French franc 0.0 0.0 1.3 2.0 2.1 1.0 1.1 .. .. .. Japanese yen 0.0 0.0 0.0 1.9 2.1 2.4 2.3 2.0 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 0.0 0.0 0.0 0.0 0.0 U.S.dollars 66.4 72.1 79.9 70.2 69.5 72.3 71.7 73.3 72.7 72.7 Multiple currency 28.1 20.9 10.3 11.4 10.9 11.0 11.2 10.9 10.3 9.7 Special drawing rights 0.0 0.4 0.1 0.3 0.3 0.3 0.4 0.5 0.6 0.6 All other currencies 0.0 3.5 7.0 7.1 7.3 6.3 6.7 2.3 2.4 2.3 387 NICARAGUA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 30 466 126 138 149 190 78 109 Debt stock rescheduled .. .. 0 367 44 0 0 142 0 0 Principal rescheduled .. .. 0 36 45 41 94 20 42 38 Official .. .. 0 36 42 32 82 18 42 38 Private .. .. 0 0 3 9 12 2 1 0 Interest rescheduled .. .. 30 3 37 51 62 29 36 19 Official .. .. 30 3 36 46 58 28 35 19 Private .. .. 0 0 1 4 3 1 1 0 Debt forgiven .. .. 0 182 39 43 28 79 289 252 Memo: interest forgiven .. .. 0 2 10 8 7 346 172 173 Debt stock reduction .. .. 0 116 0 36 0 87 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 1,060 267 222 459 -56 -445 77 430 Net flows on debt 24 345 593 390 -22 482 341 62 188 241 Net change in interest arrears .. .. 346 91 115 58 44 -254 -115 15 Interest capitalized .. .. 30 3 37 51 62 29 36 19 Debt forgiveness or reduction .. .. 0 -297 -39 -79 -28 -167 -289 -252 Cross-currency valuation .. .. 83 -317 -64 -110 -119 -127 166 244 Residual .. .. 7 398 195 56 -355 12 91 163 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.1 4.0 4.6 7.1 1.8 1.4 1.5 0.9 1.9 1.3 Maturity (years) 17.9 25.3 12.1 4.5 49.2 38.0 37.1 39.0 35.4 34.5 Grace period (years) 3.9 6.7 1.7 0.6 9.2 9.7 9.8 10.2 9.9 9.0 Grant element (%) 18.9 44.1 23.6 7.6 68.7 73.8 71.6 78.2 67.0 71.6 Official creditors Interest (%) 5.8 3.9 4.4 7.1 1.8 1.2 1.6 0.9 1.9 1.3 Maturity (years) 27.8 26.4 12.4 4.3 49.2 39.2 36.9 39.0 35.4 34.5 Grace period (years) 6.5 7.0 1.8 0.6 9.2 10.0 9.7 10.2 9.9 9.0 Grant element (%) 32.7 45.5 24.5 7.2 68.7 76.3 70.8 78.2 67.0 71.6 Private creditors Interest (%) 8.6 4.3 9.4 0.8 0.0 6.8 0.7 0.0 0.0 0.0 Maturity (years) 7.0 9.2 4.9 39.6 0.0 3.3 39.9 0.0 0.0 0.0 Grace period (years) 1.0 2.1 0.4 10.1 0.0 1.3 10.5 0.0 0.0 0.0 Grant element (%) 3.7 22.7 0.9 69.0 0.0 6.1 80.5 0.0 0.0 0.0 Memorandum items Commitments 23 434 447 487 589 217 185 381 274 86 Official creditors 12 407 429 484 589 210 171 381 274 86 Private creditors 11 27 18 3 0 8 14 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 219 193 146 102 67 37 22 12 7 3 Principal 326 322 306 273 271 266 261 248 214 215 Interest 115 118 122 115 107 99 92 85 78 72 Official creditors Disbursements 215 193 146 102 67 37 22 12 7 3 Principal 252 256 269 246 252 247 242 235 200 207 Interest 109 113 117 111 104 97 90 83 77 71 Bilateral creditors Disbursements 49 28 14 10 8 5 4 3 2 1 Principal 188 186 192 165 184 171 163 152 108 107 Interest 60 62 65 59 53 47 42 37 32 28 Multilateral creditors Disbursements 167 165 132 92 59 31 19 9 5 2 Principal 65 70 77 81 68 75 80 83 92 100 Interest 49 51 52 52 51 49 48 46 45 43 Private creditors Disbursements 4 0 0 0 0 0 0 0 0 0 Principal 73 66 38 27 19 19 19 13 13 7 Interest 6 5 5 4 3 3 2 2 2 1 Commercial banks Disbursements 3 0 0 0 0 0 0 0 0 0 Principal 8 26 6 6 6 6 6 7 7 7 Interest 3 3 2 2 2 2 2 2 2 1 Other private Disbursements 1 0 0 0 0 0 0 0 0 0 Principal 65 39 31 21 13 13 13 7 7 1 Interest 3 3 2 2 1 1 1 0 0 0 388 NIGER (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 32 863 1,726 1,556 1,650 1,667 1,686 1,590 1,798 2,116 Long-term debt (LDOD) 32 687 1,487 1,404 1,509 1,521 1,527 1,470 1,658 1,945 Public and publicly guaranteed 32 383 1,226 1,308 1,437 1,451 1,459 1,408 1,604 1,900 Private nonguaranteed 0 305 261 96 72 70 68 62 54 46 Use of IMF credit 0 16 85 61 76 68 74 81 106 131 Short-term debt 0 159 154 91 65 78 85 39 34 40 of which interest arrears on LDOD 0 0 31 34 36 46 60 27 26 6 Official creditors 0 0 16 34 36 46 60 27 26 6 Private creditors 0 0 16 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 1 80 59 60 85 97 77 67 54 Official creditors 0 1 39 59 60 85 97 77 67 54 Private creditors 0 0 41 0 0 0 0 0 0 0 Memo: export credits 0 0 398 233 61 53 55 44 45 42 TOTAL DEBT FLOWS Disbursements 12 290 148 111 111 62 87 89 140 143 Long-term debt 12 281 139 84 85 62 76 78 118 119 IMF purchases 0 9 9 27 26 0 11 11 22 24 Principal repayments 2 57 63 49 50 20 16 20 17 22 Long-term debt 2 57 47 34 36 14 14 20 15 17 IMF repurchases 0 0 16 15 14 6 2 1 2 5 Net flows on debt 11 286 123 98 33 45 65 55 119 146 of which short-term debt 0 53 38 36 -28 4 -7 -13 -4 26 Interest payments (INT) 1 84 36 15 12 11 11 8 9 12 Long-term debt 1 65 23 13 10 10 8 7 8 10 IMF charges 0 0 3 1 1 0 0 0 0 1 Short-term debt 0 19 9 2 1 1 2 1 0 0 Net transfers on debt 10 202 87 83 21 34 54 47 110 134 Total debt service paid (TDS) 2 141 99 64 62 31 27 28 26 34 Long-term debt 2 122 71 46 47 24 22 27 23 28 IMF repurchases and charges 0 0 19 16 15 6 2 1 3 6 Short-term debt (interest only) 0 19 9 2 1 1 2 1 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 26 324 358 265 216 170 183 218 249 410 Net flow of long-term debt (ex. IMF) 11 223 91 51 49 48 62 58 103 102 Foreign direct investment (net) 1 49 41 25 9 0 9 26 8 31 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 15 51 226 190 158 122 112 133 138 277 Memo: technical coop. grants 11 62 101 72 72 55 48 51 53 59 official net resource flows 26 125 308 255 230 172 176 198 249 387 private net resource flows 0 199 51 11 -15 -2 7 20 0 23 NET TRANSFERS 25 248 312 248 196 148 165 203 236 396 Interest on long-term debt 1 65 23 13 10 10 8 7 8 10 Profit remittances on FDI 0 11 23 5 9 12 10 8 5 3 Memo: official net transfers 25 118 301 245 221 162 168 192 242 377 private net transfers 0 130 12 3 -25 -14 -3 11 -6 19 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 645 2,476 2,423 1,817 2,053 1,999 1,782 1,930 2,146 2,718 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 53 53 39 80 107 134 114 Current account balance .. -276 -236 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 132.8 304.7 .. .. .. .. .. .. .. EDT / GNI (%) 4.9 34.9 71.2 85.7 80.4 83.4 94.6 82.3 83.8 77.9 TDS / XGS (%) .. 21.7 17.4 .. .. .. .. .. .. .. INT / XGS (%) .. 12.9 6.3 .. .. .. .. .. .. .. INT / GNI (%) 0.1 3.4 1.5 0.8 0.6 0.6 0.6 0.4 0.4 0.4 RES / EDT (%) 59.2 15.3 13.1 3.4 3.2 2.4 4.8 6.7 7.4 5.4 RES / MGS (months) .. 1.6 3.4 .. .. .. .. .. .. .. Short-term / EDT (%) 0.0 18.5 8.9 5.9 3.9 4.7 5.0 2.4 1.9 1.9 Concessional / EDT (%) 91.6 17.9 48.3 67.0 70.1 72.6 72.4 77.1 80.1 78.6 Multilateral / EDT (%) 13.4 16.5 40.6 56.5 58.5 59.9 60.4 64.8 67.6 67.8 389 NIGER (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 32 687 1,487 1,404 1,509 1,521 1,527 1,470 1,658 1,945 Public and publicly guaranteed 32 383 1,226 1,308 1,437 1,451 1,459 1,408 1,604 1,900 Official creditors 31 255 1,115 1,308 1,437 1,451 1,459 1,408 1,604 1,900 Multilateral 4 143 701 880 965 998 1,019 1,029 1,216 1,435 Concessional 4 112 656 847 931 974 991 1,010 1,202 1,420 Bilateral 27 112 413 428 472 453 440 379 387 465 Concessional 25 42 178 195 225 236 229 216 238 244 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 96 72 70 68 62 54 46 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 305 261 96 72 70 68 62 54 46 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 4 66 461 625 687 694 723 753 867 1,007 DISBURSEMENTS 12 281 139 84 85 62 76 78 118 119 Public and publicly guaranteed 12 167 96 84 85 62 76 78 118 119 Official creditors 12 91 90 84 85 62 76 78 118 119 Multilateral 2 60 69 74 68 53 76 73 115 119 Concessional 2 47 69 74 68 53 71 73 115 119 Bilateral 10 31 21 11 17 9 0 5 3 0 Concessional 10 11 21 11 17 9 0 5 3 0 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 50 50 26 68 64 69 73 PRINCIPAL REPAYMENTS 2 57 47 34 36 14 14 20 15 17 Public and publicly guaranteed 2 23 10 20 13 12 12 13 7 9 Official creditors 1 17 9 20 13 12 12 13 7 9 Multilateral 0 15 7 18 10 10 10 12 6 7 Concessional 0 14 3 17 10 10 10 6 5 5 Bilateral 1 3 2 2 3 2 2 2 1 2 Concessional 1 2 2 1 2 1 1 1 1 2 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 14 24 2 2 6 8 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 35 37 14 24 2 2 6 8 8 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 1 5 7 7 8 2 1 2 NET FLOWS ON DEBT 11 223 91 51 49 48 62 58 103 102 Public and publicly guaranteed 11 144 85 64 73 50 64 65 111 110 Official creditors 11 74 82 64 73 50 64 65 111 110 Multilateral 2 46 63 56 58 42 66 62 109 112 Concessional 2 33 66 57 58 43 61 67 110 114 Bilateral 9 28 19 8 14 7 -2 3 2 -2 Concessional 9 9 19 10 15 8 -1 4 2 -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 -14 -24 -2 -2 -6 -8 -8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 79 6 -14 -24 -2 -2 -6 -8 -8 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 2 18 53 45 43 19 60 62 68 72 390 NIGER (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 1 65 23 13 10 10 8 7 8 10 Public and publicly guaranteed 1 16 7 10 9 10 8 6 7 10 Official creditors 1 7 7 10 9 10 8 6 7 10 Multilateral 0 3 6 8 6 6 7 5 6 8 Concessional 0 2 4 7 6 5 7 5 6 8 Bilateral 1 5 1 2 3 4 1 1 0 1 Concessional 1 1 1 1 1 2 0 0 0 1 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 3 2 0 0 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 49 16 3 2 0 0 1 1 1 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 3 4 5 4 6 4 5 6 NET TRANSFERS ON DEBT 10 158 68 38 38 38 54 51 95 91 Public and publicly guaranteed 10 128 78 55 64 40 56 59 104 100 Official creditors 11 66 75 55 64 40 56 59 104 100 Multilateral 2 43 57 49 52 36 59 56 103 104 Concessional 2 32 62 50 52 38 54 62 104 106 Bilateral 8 23 17 6 11 4 -3 3 2 -3 Concessional 8 9 18 9 13 7 -1 3 2 -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 -17 -25 -2 -2 -8 -9 -9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 30 -10 -17 -25 -2 -2 -8 -9 -9 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 2 18 51 41 38 15 54 57 64 66 DEBT SERVICE (LTDS) 2 122 71 46 47 24 22 27 23 28 Public and publicly guaranteed 2 39 17 30 21 22 20 19 14 19 Official creditors 2 25 16 30 21 22 20 19 14 19 Multilateral 0 17 12 25 16 16 17 17 12 15 Concessional 0 16 7 24 16 15 17 11 11 13 Bilateral 2 8 3 5 5 5 3 2 2 3 Concessional 1 3 3 2 4 2 1 1 2 3 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 17 25 2 2 8 9 9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 83 53 17 25 2 2 8 9 9 Memo: IBRD 0 0 0 0 0 0 0 0 0 0 IDA 0 0 4 9 12 11 14 7 6 7 UNDISBURSED DEBT 41 415 368 312 415 288 262 358 315 368 Official creditors 24 279 368 312 415 288 262 358 315 368 Private creditors 17 136 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 29 154 834 1,042 1,156 1,210 1,220 1,225 1,440 1,664 Variable rate LDOD 0 387 377 113 91 88 85 74 68 61 Public sector LDOD 24 372 1,223 1,308 1,437 1,451 1,459 1,408 1,604 1,900 Private sector LDOD 7 315 264 96 72 70 68 62 54 46 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 25.4 22.2 23.1 Deutsche mark 12.0 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc 67.5 53.8 43.9 30.2 29.0 26.2 24.5 .. .. .. Japanese yen 0.0 0.0 1.3 1.8 1.8 2.0 1.8 1.6 1.4 1.3 Pound sterling 0.0 0.0 0.8 1.4 1.4 1.4 1.2 1.0 1.0 0.9 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 41.0 42.1 44.6 47.1 50.1 52.0 51.2 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 3.3 3.2 3.0 3.0 2.9 3.3 3.1 All other currencies 13.5 13.9 23.8 22.3 22.5 22.8 22.4 18.9 20.1 20.5 391 NIGER (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 29 27 26 29 28 46 85 0 Debt stock rescheduled .. .. 0 0 0 0 18 0 16 0 Principal rescheduled .. .. 12 5 9 3 5 28 49 0 Official .. .. 12 5 9 3 5 28 49 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 16 9 8 1 1 18 20 0 Official .. .. 16 9 8 1 1 18 20 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 0 4 7 7 0 70 22 21 Memo: interest forgiven .. .. 0 5 0 6 0 43 5 12 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 34 94 17 19 -96 209 318 Net flows on debt 11 286 123 98 33 45 65 55 119 146 Net change in interest arrears .. .. 8 11 2 9 14 -33 0 -20 Interest capitalized .. .. 16 9 8 1 1 18 20 0 Debt forgiveness or reduction .. .. 0 -4 -7 -7 0 -70 -22 -21 Cross-currency valuation .. .. 36 -153 -61 -87 -62 -49 99 132 Residual .. .. 46 73 119 55 2 -17 -7 81 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.2 7.4 1.9 1.0 0.7 0.9 0.7 1.0 1.3 0.9 Maturity (years) 39.7 18.3 31.9 35.8 38.6 21.4 36.5 38.9 33.7 40.1 Grace period (years) 8.3 4.7 9.2 8.2 9.9 6.9 9.4 9.4 8.2 9.3 Grant element (%) 72.5 18.7 65.0 73.9 78.7 63.9 74.7 76.9 70.0 75.3 Official creditors Interest (%) 0.6 5.4 1.9 1.0 0.7 0.9 0.7 1.0 1.3 0.9 Maturity (years) 44.8 26.2 31.9 35.8 38.6 21.4 36.5 38.9 33.7 40.1 Grace period (years) 9.2 6.8 9.2 8.2 9.9 6.9 9.4 9.4 8.2 9.3 Grant element (%) 80.9 35.3 65.0 73.9 78.7 63.9 74.7 76.9 70.0 75.3 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 79 183 20 64 206 98 140 Official creditors 16 185 56 79 183 20 64 206 98 140 Private creditors 3 155 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 68 81 65 47 35 25 16 8 6 2 Principal 140 107 79 84 79 75 70 67 72 63 Interest 34 29 26 24 22 20 19 18 17 16 Official creditors Disbursements 68 81 65 47 35 25 16 8 6 2 Principal 133 100 72 77 73 69 63 67 72 63 Interest 33 28 25 23 21 20 19 18 17 16 Bilateral creditors Disbursements 4 3 1 1 1 0 0 0 0 0 Principal 89 55 29 30 22 14 14 15 16 16 Interest 21 16 13 11 9 8 8 7 6 6 Multilateral creditors Disbursements 64 78 63 46 34 25 16 8 6 2 Principal 45 45 43 47 50 54 49 52 55 47 Interest 12 12 12 12 12 12 11 11 11 10 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 7 7 7 7 7 7 7 0 0 0 Interest 1 1 1 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 7 7 7 7 7 7 7 0 0 0 Interest 1 1 1 1 0 0 0 0 0 0 392 NIGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 837 8,921 33,439 28,455 30,294 29,128 31,355 31,042 30,476 34,963 Long-term debt (LDOD) 567 5,368 31,935 22,926 23,730 22,608 30,235 29,399 28,206 31,563 Public and publicly guaranteed 452 4,271 31,545 22,631 23,445 22,358 30,020 29,218 28,057 31,563 Private nonguaranteed 115 1,097 391 295 285 250 215 181 149 0 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt 270 3,553 1,504 5,529 6,564 6,520 1,120 1,643 2,270 3,400 of which interest arrears on LDOD 1 0 1,040 4,957 5,774 5,684 44 415 1,475 2,658 Official creditors 0 0 465 4,483 5,224 5,110 43 415 1,475 2,655 Private creditors 0 0 575 474 550 575 0 0 0 2 Memo: principal arrears on LDOD 2 0 1,091 10,151 12,103 12,903 117 116 957 1,360 Official creditors 0 0 194 8,648 10,260 10,809 114 113 953 1,357 Private creditors 1 0 897 1,503 1,843 2,094 3 3 3 3 Memo: export credits 0 0 20,116 17,135 12,576 13,833 12,284 11,998 13,451 13,908 TOTAL DEBT FLOWS Disbursements 81 1,753 927 314 276 175 153 67 81 181 Long-term debt 81 1,753 927 314 276 175 153 67 81 181 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 68 242 1,180 840 773 605 1,091 1,715 1,148 1,217 Long-term debt 68 242 1,180 840 773 605 1,091 1,715 1,148 1,217 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 13 2,780 -34 -663 -279 -385 -696 -1,497 -1,501 -1,089 of which short-term debt 0 1,270 219 -137 218 45 241 151 -433 -53 Interest payments (INT) 28 909 2,155 576 559 458 754 828 342 419 Long-term debt 28 529 2,123 543 521 418 690 804 324 409 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 379 32 33 38 41 64 24 18 10 Net transfers on debt -14 1,872 -2,190 -1,239 -838 -843 -1,451 -2,325 -1,842 -1,508 Total debt service paid (TDS) 96 1,151 3,336 1,416 1,332 1,063 1,845 2,543 1,490 1,636 Long-term debt 96 771 3,304 1,383 1,294 1,023 1,781 2,519 1,472 1,626 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 379 32 33 38 41 64 24 18 10 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 259 774 459 1,041 587 622 42 -454 319 274 Net flow of long-term debt (ex. IMF) 13 1,510 -253 -525 -497 -430 -937 -1,648 -1,068 -1,036 Foreign direct investment (net) 205 -739 588 1,539 1,051 1,005 930 1,104 1,281 1,200 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 40 3 125 27 33 48 49 90 105 111 Memo: technical coop. grants 36 48 94 83 51 43 80 105 157 178 official net resource flows 70 79 -8 -240 -439 -236 -711 -1,374 -321 -678 private net resource flows 189 695 467 1,282 1,027 859 754 920 639 952 NET TRANSFERS 231 -1,348 -1,799 -980 -1,360 -1,416 -2,479 -2,060 -989 -1,451 Interest on long-term debt 28 529 2,123 543 521 418 690 804 324 409 Profit remittances on FDI 0 1,593 135 1,477 1,427 1,621 1,832 802 984 1,316 Memo: official net transfers 54 16 -1,308 -606 -815 -481 -1,227 -2,005 -480 -992 private net transfers 177 -1,365 -491 -374 -546 -935 -1,252 -55 -509 -459 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 12,081 61,079 25,585 33,993 29,317 33,300 37,720 43,728 40,287 49,960 Exports of goods, serv. & inc. (XGS) .. 27,772 14,771 18,172 11,762 15,396 .. .. .. .. Worker remit. & comp. of employees 0 22 10 1,871 1,544 1,628 1,705 1,303 1,421 1,677 Imports of goods & services (MGS) .. 22,005 9,858 17,617 16,001 14,881 .. .. .. .. International reserves (RES) 223 10,640 4,129 7,781 7,299 5,650 10,099 10,647 7,567 7,415 Current account balance .. 5,178 4,988 552 -4,244 506 .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 32.1 226.4 156.6 257.6 189.2 .. .. .. .. EDT / GNI (%) 6.9 14.6 130.7 83.7 103.3 87.5 83.1 71.0 75.6 70.0 TDS / XGS (%) .. 4.1 22.6 7.8 11.3 6.9 .. .. .. .. INT / XGS (%) .. 3.3 14.6 3.2 4.7 3.0 .. .. .. .. INT / GNI (%) 0.2 1.5 8.4 1.7 1.9 1.4 2.0 1.9 0.8 0.8 RES / EDT (%) 26.7 119.3 12.3 27.3 24.1 19.4 32.2 34.3 24.8 21.2 RES / MGS (months) .. 5.8 5.0 5.3 5.5 4.6 .. .. .. .. Short-term / EDT (%) 32.2 39.8 4.5 19.4 21.7 22.4 3.6 5.3 7.4 9.7 Concessional / EDT (%) 15.6 4.9 1.6 4.6 5.2 5.9 4.6 4.3 4.8 43.7 Multilateral / EDT (%) 21.8 6.4 11.2 14.1 13.5 12.9 10.5 9.3 9.5 8.5 393 NIGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 567 5,368 31,935 22,926 23,730 22,608 30,235 29,399 28,206 31,563 Public and publicly guaranteed 452 4,271 31,545 22,631 23,445 22,358 30,020 29,218 28,057 31,563 Official creditors 358 992 17,007 17,011 17,669 16,650 26,574 25,933 25,538 29,178 Multilateral 182 571 3,732 4,013 4,083 3,768 3,302 2,881 2,891 2,984 Concessional 17 37 36 496 663 727 755 738 831 947 Bilateral 175 422 13,275 12,998 13,586 12,882 23,272 23,053 22,646 26,194 Concessional 114 401 485 826 919 997 702 601 640 14,345 Private creditors 94 3,279 14,537 5,620 5,776 5,708 3,446 3,285 2,519 2,385 Bonds 10 0 0 2,051 2,051 2,051 2,051 2,051 1,441 1,442 Commercial banks 18 2,633 5,714 0 0 0 0 0 0 23 Other private 66 645 8,823 3,569 3,725 3,657 1,395 1,234 1,078 921 Private nonguaranteed 115 1,097 391 295 285 250 215 181 149 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 115 1,097 391 295 285 250 215 181 149 0 Memo: IBRD 165 517 3,284 2,373 2,278 1,989 1,625 1,337 1,275 1,201 IDA 17 37 36 410 564 624 644 621 676 787 DISBURSEMENTS 81 1,753 927 314 276 175 153 67 81 181 Public and publicly guaranteed 56 1,187 927 314 276 175 153 67 81 181 Official creditors 45 122 642 314 276 175 153 67 81 179 Multilateral 14 73 542 314 276 175 153 67 81 179 Concessional 1 0 7 97 145 81 68 19 46 65 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 1 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 1 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 63 384 177 86 44 31 18 1 0 IDA 1 0 7 83 135 75 55 9 19 63 PRINCIPAL REPAYMENTS 68 242 1,180 840 773 605 1,091 1,715 1,148 1,217 Public and publicly guaranteed 38 65 1,165 830 763 570 1,056 1,680 1,116 1,217 Official creditors 16 45 774 582 749 459 914 1,530 506 967 Multilateral 5 25 246 467 419 450 404 324 305 350 Concessional 0 0 1 1 1 3 5 8 12 18 Bilateral 11 20 528 115 329 9 510 1,206 202 618 Concessional 5 14 5 70 319 0 0 9 26 115 Private creditors 22 20 391 248 15 111 142 150 610 250 Bonds 0 0 0 0 0 0 0 0 452 0 Commercial banks 0 1 388 0 0 0 0 0 0 4 Other private 22 19 3 248 15 111 142 150 158 246 Private nonguaranteed 30 177 15 10 10 35 35 34 32 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 30 177 15 10 10 35 35 34 32 0 Memo: IBRD 5 24 241 338 313 305 273 207 178 203 IDA 0 0 1 1 1 2 4 8 11 17 NET FLOWS ON DEBT 13 1,510 -253 -525 -497 -430 -937 -1,648 -1,068 -1,036 Public and publicly guaranteed 18 1,122 -238 -515 -487 -395 -902 -1,614 -1,036 -1,036 Official creditors 29 77 -132 -267 -473 -284 -761 -1,464 -426 -788 Multilateral 10 48 295 -152 -143 -274 -251 -257 -224 -170 Concessional 1 0 6 96 144 78 63 11 34 46 Bilateral 20 29 -428 -115 -329 -9 -510 -1,206 -202 -618 Concessional 25 35 95 -70 -319 0 0 -9 -26 -115 Private creditors -11 1,046 -106 -248 -15 -111 -142 -150 -610 -248 Bonds 0 0 0 0 0 0 0 0 -452 0 Commercial banks 3 491 -388 0 0 0 0 0 0 -4 Other private -14 555 282 -248 -15 -111 -142 -150 -158 -244 Private nonguaranteed -5 388 -15 -10 -10 -35 -35 -34 -32 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -5 388 -15 -10 -10 -35 -35 -34 -32 0 Memo: IBRD 8 38 144 -161 -227 -261 -242 -189 -176 -203 IDA 1 0 6 82 134 72 51 1 8 46 394 NIGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 28 529 2,123 543 521 418 690 804 324 409 Public and publicly guaranteed 20 438 2,120 532 512 404 673 787 313 409 Official creditors 16 63 1,300 365 375 245 516 631 160 315 Multilateral 9 46 262 280 242 243 190 139 143 137 Concessional 0 0 0 3 4 5 5 5 6 7 Bilateral 7 17 1,038 85 133 2 326 492 17 178 Concessional 3 8 312 65 132 0 0 15 3 15 Private creditors 4 375 820 166 136 159 157 156 153 94 Bonds 0 0 0 128 128 128 128 128 128 90 Commercial banks 1 352 378 0 0 0 0 0 0 1 Other private 3 24 442 38 8 31 29 27 25 3 Private nonguaranteed 8 91 3 12 9 14 18 18 11 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 91 3 12 9 14 18 18 11 0 Memo: IBRD 9 45 243 181 154 138 103 79 70 62 IDA 0 0 0 3 3 4 5 5 5 5 NET TRANSFERS ON DEBT -14 981 -2,377 -1,069 -1,018 -848 -1,628 -2,452 -1,391 -1,445 Public and publicly guaranteed -2 684 -2,358 -1,047 -999 -799 -1,575 -2,401 -1,348 -1,445 Official creditors 13 14 -1,433 -633 -848 -529 -1,276 -2,095 -586 -1,103 Multilateral 1 2 33 -433 -386 -518 -441 -396 -367 -307 Concessional 1 -1 6 92 140 73 58 6 28 40 Bilateral 13 12 -1,466 -200 -462 -11 -836 -1,699 -219 -795 Concessional 22 27 -217 -135 -451 0 0 -24 -29 -130 Private creditors -15 670 -926 -414 -151 -270 -299 -305 -763 -343 Bonds 0 0 0 -128 -128 -128 -128 -128 -580 -90 Commercial banks 2 140 -766 0 0 0 0 0 0 -5 Other private -17 531 -160 -286 -23 -142 -170 -177 -183 -248 Private nonguaranteed -13 297 -18 -22 -19 -49 -53 -52 -43 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -13 297 -18 -22 -19 -49 -53 -52 -43 0 Memo: IBRD -1 -6 -100 -341 -380 -399 -346 -268 -246 -265 IDA 1 -1 6 79 131 68 46 -3 3 41 DEBT SERVICE (LTDS) 96 771 3,304 1,383 1,294 1,023 1,781 2,519 1,472 1,626 Public and publicly guaranteed 58 503 3,285 1,361 1,275 974 1,728 2,467 1,429 1,626 Official creditors 32 108 2,074 947 1,124 704 1,430 2,162 666 1,282 Multilateral 14 71 509 747 661 693 594 463 447 487 Concessional 0 1 1 4 5 8 10 14 18 25 Bilateral 18 37 1,566 200 462 11 836 1,699 219 795 Concessional 8 22 317 135 451 0 0 24 29 130 Private creditors 26 395 1,211 414 151 270 299 305 763 344 Bonds 0 0 0 128 128 128 128 128 580 90 Commercial banks 1 352 766 0 0 0 0 0 0 5 Other private 25 43 445 286 23 142 170 177 183 249 Private nonguaranteed 38 269 18 22 19 49 53 52 43 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 38 269 18 22 19 49 53 52 43 0 Memo: IBRD 14 69 484 519 467 443 377 286 248 265 IDA 0 1 1 4 4 7 9 12 16 22 UNDISBURSED DEBT 185 3,714 5,216 1,316 672 473 370 701 808 1,362 Official creditors 167 1,112 3,938 1,316 672 473 370 701 808 1,362 Private creditors 18 2,602 1,278 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 131 439 521 1,322 1,582 1,724 1,457 1,339 1,472 15,292 Variable rate LDOD 127 4,001 11,044 4,864 4,912 4,529 1,925 1,639 1,554 3,172 Public sector LDOD 450 4,271 31,545 22,565 23,377 22,292 29,964 29,171 28,012 31,521 Private sector LDOD 117 1,097 391 362 353 316 271 228 194 43 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 1.9 2.2 39.8 Deutsche mark 9.0 23.5 14.8 10.9 11.2 10.1 0.7 .. .. .. French franc 0.0 0.9 9.0 10.2 10.5 9.5 1.0 .. .. .. Japanese yen 0.8 2.0 8.2 11.9 12.9 15.3 2.3 2.0 2.1 12.3 Pound sterling 30.4 2.7 11.8 13.0 12.6 12.8 1.5 1.5 1.3 16.4 Swiss franc 0.3 0.4 0.7 0.5 0.6 0.5 0.0 0.0 0.1 2.4 U.S.dollars 9.9 55.0 38.8 31.9 31.3 32.3 85.1 86.6 86.2 21.9 Multiple currency 38.5 12.1 10.4 10.5 9.8 9.0 5.4 4.6 4.6 3.9 Special drawing rights 0.0 0.0 0.0 0.1 0.2 0.2 0.1 0.1 0.1 0.1 All other currencies 11.2 3.4 6.3 11.0 11.0 10.4 3.8 3.2 3.4 3.2 395 NIGERIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 1,480 0 0 0 20,920 1,186 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 1,280 0 0 10 12,027 22 0 0 Official .. .. 1,090 0 0 0 10,024 14 0 0 Private .. .. 191 0 0 10 2,003 7 0 0 Interest rescheduled .. .. 169 0 0 4 8,471 57 0 0 Official .. .. 149 0 0 0 7,920 56 0 0 Private .. .. 21 0 0 4 551 2 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 .. .. 286 700 0 0 0 0 610 0 of which debt buyback .. .. 0 0 0 0 0 0 452 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 3,317 -2,952 1,840 -1,167 2,227 -313 -566 4,487 Net flows on debt 13 2,780 -34 -663 -279 -385 -696 -1,497 -1,501 -1,089 Net change in interest arrears .. .. 820 -10 818 -90 -5,641 372 1,060 1,182 Interest capitalized .. .. 169 0 0 4 8,471 57 0 0 Debt forgiveness or reduction .. .. -286 -700 0 0 0 0 -158 0 Cross-currency valuation .. .. 2,014 -1,635 883 -647 -1,189 -279 392 408 Residual .. .. 635 55 418 -50 1,283 1,034 -360 3,986 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.0 10.5 6.6 0.0 0.0 0.0 0.8 1.0 1.3 0.8 Maturity (years) 14.0 10.9 19.0 0.0 0.0 0.0 34.7 34.9 20.5 35.6 Grace period (years) 3.9 3.5 5.2 0.0 0.0 0.0 10.2 10.3 5.2 9.9 Grant element (%) 21.3 -2.2 23.0 0.0 0.0 0.0 78.7 75.5 48.3 78.6 Official creditors Interest (%) 5.9 8.2 5.8 0.0 0.0 0.0 0.8 1.0 1.3 0.8 Maturity (years) 15.4 16.1 22.4 0.0 0.0 0.0 34.7 34.9 20.5 35.6 Grace period (years) 4.3 3.9 6.1 0.0 0.0 0.0 10.2 10.3 5.2 9.9 Grant element (%) 23.2 9.2 30.3 0.0 0.0 0.0 78.7 75.5 48.3 78.6 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 80 461 149 586 Official creditors 55 525 1,391 0 0 0 80 461 149 586 Private creditors 10 1,380 801 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 181 198 172 172 183 142 110 77 53 34 Principal 2,793 2,990 2,875 2,292 2,269 2,117 1,702 1,586 1,540 1,551 Interest 1,392 1,266 1,128 999 888 779 679 602 528 457 Official creditors Disbursements 181 198 172 172 183 142 110 77 53 34 Principal 2,563 2,761 2,647 2,064 2,041 1,888 1,545 1,499 1,455 1,466 Interest 1,259 1,146 1,020 904 805 709 622 551 482 416 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 2,138 2,334 2,249 1,728 1,728 1,683 1,386 1,391 1,384 1,384 Interest 1,124 1,031 928 832 751 670 594 529 465 400 Multilateral creditors Disbursements 181 198 172 172 183 142 110 77 53 34 Principal 425 426 398 336 313 206 159 109 71 82 Interest 136 115 92 72 54 39 29 22 17 15 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 230 230 229 229 229 229 158 87 85 85 Interest 133 120 108 95 82 69 57 51 46 41 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3 3 2 2 2 2 2 2 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 227 227 227 227 227 227 156 85 85 85 Interest 132 120 107 95 82 69 57 51 46 41 396 OMAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 599 2,736 6,227 6,266 6,839 6,564 6,021 4,639 3,886 Long-term debt (LDOD) .. 436 2,400 5,195 4,868 5,004 5,266 4,755 3,451 2,642 Public and publicly guaranteed .. 436 2,400 2,567 2,235 2,596 2,970 2,687 1,979 1,480 Private nonguaranteed .. 0 0 2,628 2,632 2,408 2,296 2,068 1,471 1,161 Use of IMF credit .. 0 0 0 0 0 0 0 0 0 Short-term debt .. 163 335 1,032 1,398 1,835 1,299 1,266 1,188 1,244 of which interest arrears on LDOD .. 0 1 1 0 0 0 1 0 0 Official creditors .. 0 1 1 0 0 0 0 0 0 Private creditors .. 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD .. 0 3 5 0 4 4 16 17 11 Official creditors .. 0 3 5 0 0 0 8 12 8 Private creditors .. 0 0 0 0 4 4 8 5 3 Memo: export credits .. 0 561 1,437 195 218 155 164 383 155 TOTAL DEBT FLOWS Disbursements .. 98 125 476 442 821 527 700 289 278 Long-term debt .. 98 125 476 442 821 527 700 289 278 IMF purchases .. 0 0 0 0 0 0 0 0 0 Principal repayments .. 179 536 581 796 696 479 1,310 1,535 1,114 Long-term debt .. 179 536 581 796 696 479 1,310 1,535 1,114 IMF repurchases .. 0 0 0 0 0 0 0 0 0 Net flows on debt .. -64 -425 161 13 561 -489 -643 -1,323 -780 of which short-term debt .. 17 -14 266 367 437 -537 -33 -77 56 Interest payments (INT) .. 70 203 323 357 280 385 356 214 162 Long-term debt .. 44 177 278 295 272 298 297 161 125 IMF charges .. 0 0 0 0 0 0 0 0 0 Short-term debt .. 26 25 45 62 8 87 59 53 36 Net transfers on debt .. -134 -627 -162 -344 281 -874 -1,000 -1,536 -941 Total debt service paid (TDS) .. 249 739 904 1,153 976 864 1,667 1,748 1,275 Long-term debt .. 223 714 859 1,091 968 777 1,608 1,696 1,239 IMF repurchases and charges .. 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) .. 26 25 45 62 8 87 59 53 36 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 174 -212 80 0 191 88 -519 -1,150 -563 Net flow of long-term debt (ex. IMF) .. -81 -411 -105 -355 125 48 -610 -1,246 -836 Foreign direct investment (net) .. 98 142 65 102 40 16 83 24 138 Portfolio equity flows .. 0 0 85 240 12 -11 -3 34 96 Grants (excluding technical coop.) .. 157 57 35 13 14 35 11 38 39 Memo: technical coop. grants .. 4 13 18 25 13 15 10 5 6 official net resource flows .. 140 45 19 -16 90 59 311 -49 -6 private net resource flows .. 34 -257 61 16 100 28 -831 -1,101 -557 NET TRANSFERS .. -155 -779 -799 -912 -648 -884 -1,556 -2,137 -1,697 Interest on long-term debt .. 44 177 278 295 272 298 297 161 125 Profit remittances on FDI .. 286 390 601 617 567 674 740 826 1,009 Memo: official net transfers .. 127 31 -12 -44 60 27 266 -102 -61 private net transfers .. -282 -810 -787 -867 -708 -911 -1,822 -2,035 -1,637 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 5,725 10,281 15,449 13,610 15,030 19,157 19,355 19,790 .. Exports of goods, serv. & inc. (XGS) .. 3,887 5,990 8,311 6,247 7,837 12,048 11,748 11,839 12,374 Worker remit. & comp. of employees .. 35 39 39 39 39 39 39 39 39 Imports of goods & services (MGS) .. 2,650 3,971 6,976 7,944 6,859 7,334 8,208 8,467 9,256 International reserves (RES) .. 704 1,784 2,154 2,021 2,852 2,460 2,445 3,174 3,594 Current account balance .. 942 1,106 -166 -3,164 -460 3,263 2,008 1,770 1,446 4. DEBT INDICATORS EDT / XGS (%) .. 15.4 45.7 74.9 100.3 87.3 54.5 51.3 39.2 31.4 EDT / GNI (%) .. 10.5 26.6 40.3 46.0 45.5 34.3 31.1 23.4 .. TDS / XGS (%) .. 6.4 12.3 10.9 18.5 12.5 7.2 14.2 14.8 10.3 INT / XGS (%) .. 1.8 3.4 3.9 5.7 3.6 3.2 3.0 1.8 1.3 INT / GNI (%) .. 1.2 2.0 2.1 2.6 1.9 2.0 1.8 1.1 .. RES / EDT (%) .. 117.7 65.2 34.6 32.3 41.7 37.5 40.6 68.4 92.5 RES / MGS (months) .. 3.2 5.4 3.7 3.1 5.0 4.0 3.6 4.5 4.7 Short-term / EDT (%) .. 27.2 12.3 16.6 22.3 26.8 19.8 21.0 25.6 32.0 Concessional / EDT (%) .. 43.6 8.9 8.9 8.9 9.6 13.3 19.1 23.8 28.1 Multilateral / EDT (%) .. 5.8 4.7 3.2 3.2 4.1 7.9 13.4 17.4 20.0 397 OMAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 436 2,400 5,195 4,868 5,004 5,266 4,755 3,451 2,642 Public and publicly guaranteed .. 436 2,400 2,567 2,235 2,596 2,970 2,687 1,979 1,480 Official creditors .. 349 327 645 642 735 983 1,291 1,145 1,127 Multilateral .. 35 129 199 202 277 520 804 809 778 Concessional .. 6 49 111 118 203 457 753 766 742 Bilateral .. 314 198 446 439 457 463 487 336 349 Concessional .. 255 194 443 437 456 417 399 336 349 Private creditors .. 87 2,073 1,923 1,593 1,861 1,987 1,396 834 353 Bonds .. 0 0 225 225 225 225 225 0 0 Commercial banks .. 0 1,720 1,257 995 1,249 1,480 781 510 133 Other private .. 87 353 440 374 387 282 390 324 221 Private nonguaranteed .. 0 0 2,628 2,632 2,408 2,296 2,068 1,471 1,161 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 2,628 2,632 2,408 2,296 2,068 1,471 1,161 Memo: IBRD .. 14 52 13 9 6 3 1 0 0 IDA .. 0 0 0 0 0 0 0 0 0 DISBURSEMENTS .. 98 125 476 442 821 527 700 289 278 Public and publicly guaranteed .. 98 125 272 45 670 394 486 119 49 Official creditors .. 45 34 44 45 132 89 368 99 39 Multilateral .. 13 22 10 17 100 23 308 13 5 Concessional .. 6 12 8 14 98 21 308 13 5 Bilateral .. 32 13 34 28 33 66 60 85 34 Concessional .. 7 13 34 28 33 20 18 85 34 Private creditors .. 52 91 228 0 538 305 118 21 9 Bonds .. 0 0 225 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 458 263 26 0 0 Other private .. 52 91 3 0 80 42 92 21 9 Private nonguaranteed .. 0 0 204 397 151 133 214 170 229 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 204 397 151 133 214 170 229 Memo: IBRD .. 6 9 0 0 0 0 0 0 0 IDA .. 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. 179 536 581 796 696 479 1,310 1,535 1,114 Public and publicly guaranteed .. 179 536 297 404 321 234 643 768 574 Official creditors .. 62 46 60 74 56 64 68 186 84 Multilateral .. 3 30 23 18 20 24 24 25 52 Concessional .. 0 10 13 9 11 14 14 13 43 Bilateral .. 60 16 37 56 35 40 44 161 33 Concessional .. 9 15 37 55 35 39 43 161 33 Private creditors .. 117 490 237 330 266 170 575 582 490 Bonds .. 0 0 0 0 0 0 0 225 0 Commercial banks .. 32 370 167 262 203 32 462 271 378 Other private .. 85 120 70 68 62 138 113 87 112 Private nonguaranteed .. 0 0 284 392 375 245 667 766 539 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 284 392 375 245 667 766 539 Memo: IBRD .. 1 16 4 4 3 3 1 1 0 IDA .. 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. -81 -411 -105 -355 125 48 -610 -1,246 -836 Public and publicly guaranteed .. -81 -411 -25 -359 349 160 -157 -649 -525 Official creditors .. -17 -12 -16 -29 76 25 300 -87 -45 Multilateral .. 11 -9 -12 -1 79 -1 284 -11 -47 Concessional .. 6 2 -6 5 88 7 295 0 -38 Bilateral .. -27 -3 -4 -28 -3 26 16 -76 2 Concessional .. -1 -2 -3 -27 -2 -19 -25 -76 2 Private creditors .. -65 -400 -9 -330 273 135 -457 -562 -481 Bonds .. 0 0 225 0 0 0 0 -225 0 Commercial banks .. -32 -370 -167 -262 255 231 -436 -271 -378 Other private .. -32 -30 -67 -68 18 -96 -21 -66 -103 Private nonguaranteed .. 0 0 -80 5 -224 -112 -453 -596 -310 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 -80 5 -224 -112 -453 -596 -310 Memo: IBRD .. 5 -6 -4 -4 -3 -3 -1 -1 0 IDA .. 0 0 0 0 0 0 0 0 0 398 OMAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 44 177 278 295 272 298 297 161 125 Public and publicly guaranteed .. 44 177 132 156 136 155 152 97 76 Official creditors .. 14 14 31 28 30 32 45 53 55 Multilateral .. 2 6 11 11 12 14 28 41 44 Concessional .. 0 0 6 7 7 10 22 36 38 Bilateral .. 12 8 20 17 18 18 18 12 11 Concessional .. 1 8 20 17 18 18 16 12 11 Private creditors .. 30 163 101 128 106 123 107 44 21 Bonds .. 0 0 0 16 16 16 16 8 0 Commercial banks .. 3 133 64 80 63 79 64 17 10 Other private .. 28 31 37 32 26 27 27 19 12 Private nonguaranteed .. 0 0 146 139 136 143 145 64 49 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 146 139 136 143 145 64 49 Memo: IBRD .. 1 5 1 1 1 0 0 0 0 IDA .. 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. -125 -589 -383 -649 -147 -250 -907 -1,407 -961 Public and publicly guaranteed .. -125 -589 -157 -515 213 5 -309 -746 -601 Official creditors .. -30 -26 -47 -57 46 -7 255 -140 -99 Multilateral .. 9 -15 -24 -13 67 -15 257 -52 -90 Concessional .. 6 2 -12 -2 81 -2 273 -36 -76 Bilateral .. -39 -11 -23 -45 -21 8 -2 -88 -9 Concessional .. -2 -10 -22 -44 -20 -37 -41 -88 -9 Private creditors .. -95 -563 -110 -457 167 12 -564 -606 -502 Bonds .. 0 0 225 -16 -16 -16 -16 -233 0 Commercial banks .. -35 -503 -231 -342 191 151 -500 -288 -387 Other private .. -60 -60 -104 -100 -8 -123 -48 -85 -115 Private nonguaranteed .. 0 0 -226 -134 -360 -255 -598 -661 -359 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 -226 -134 -360 -255 -598 -661 -359 Memo: IBRD .. 4 -11 -5 -5 -4 -3 -2 -1 0 IDA .. 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. 223 714 859 1,091 968 777 1,608 1,696 1,239 Public and publicly guaranteed .. 223 714 429 560 457 389 796 865 650 Official creditors .. 76 60 91 102 86 96 113 239 139 Multilateral .. 5 37 34 29 32 38 52 66 95 Concessional .. 0 10 20 16 17 23 35 49 81 Bilateral .. 71 23 57 73 54 58 62 173 44 Concessional .. 9 23 56 72 53 57 59 173 44 Private creditors .. 147 654 338 458 371 293 682 626 511 Bonds .. 0 0 0 16 16 16 16 233 0 Commercial banks .. 35 503 231 342 267 112 526 288 387 Other private .. 113 151 106 100 89 165 140 106 124 Private nonguaranteed .. 0 0 430 531 511 388 812 831 589 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks and other .. 0 0 430 531 511 388 812 831 589 Memo: IBRD .. 2 20 5 5 4 3 2 1 0 IDA .. 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT .. 499 897 196 323 1,291 1,499 1,050 1,285 1,341 Official creditors .. 176 454 151 272 1,031 1,276 916 1,096 1,157 Private creditors .. 323 443 45 50 260 224 134 190 184 Memorandum items Concessional LDOD .. 261 243 554 555 659 873 1,152 1,102 1,090 Variable rate LDOD .. 0 1,386 3,783 3,636 3,744 3,938 3,078 2,157 1,461 Public sector LDOD .. 436 2,400 2,567 2,235 2,596 2,970 2,687 1,979 1,480 Private sector LDOD .. 0 0 2,628 2,632 2,408 2,296 2,068 1,471 1,161 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 0.0 0.0 0.0 Deutsche mark .. 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 .. .. .. Japanese yen .. 0.0 7.3 11.3 8.1 7.3 5.2 4.6 3.1 5.2 Pound sterling .. 8.8 5.5 8.1 8.0 5.5 1.0 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 U.S.dollars .. 16.8 75.5 64.1 64.8 67.3 76.7 76.2 70.3 59.6 Multiple currency .. 3.1 2.2 0.5 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 0.0 0.0 All other currencies .. 63.7 9.1 15.9 19.1 19.9 17.1 19.2 26.6 35.1 399 OMAN (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 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 .. .. -233 107 39 573 -275 -543 -1,382 -753 Net flows on debt .. -64 -425 161 13 561 -489 -643 -1,323 -780 Net change in interest arrears .. .. 1 0 -1 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 .. .. 39 -55 44 14 -38 -27 32 27 Residual .. .. 152 1 -17 -2 252 127 -91 0 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 7.9 7.5 6.7 3.4 6.3 5.4 0.0 1.8 4.3 Maturity (years) .. 9.4 13.8 6.0 18.0 11.7 10.6 0.0 6.3 20.3 Grace period (years) .. 3.2 4.0 4.7 3.2 2.6 2.4 0.0 1.5 4.0 Grant element (%) .. 9.1 12.8 13.7 37.5 15.8 20.9 0.0 25.0 36.7 Official creditors Interest (%) .. 10.0 1.9 3.6 3.3 6.6 4.3 0.0 1.6 4.3 Maturity (years) .. 10.5 16.7 13.0 18.2 16.7 15.4 0.0 6.7 20.3 Grace period (years) .. 2.9 4.5 2.9 3.2 2.6 3.4 0.0 1.8 4.0 Grant element (%) .. 2.9 45.1 32.7 37.8 17.8 31.6 0.0 27.0 36.7 Private creditors Interest (%) .. 7.5 8.0 7.1 3.9 5.9 6.7 0.0 2.4 0.0 Maturity (years) .. 9.2 13.5 5.0 11.1 6.1 4.2 0.0 4.3 0.0 Grace period (years) .. 3.3 4.0 5.0 3.1 2.7 1.0 0.0 0.3 0.0 Grant element (%) .. 10.3 9.9 10.9 28.8 13.5 6.7 0.0 14.9 0.0 Memorandum items Commitments .. 454 412 258 188 1,609 656 0 460 80 Official creditors .. 75 34 33 183 859 375 0 387 80 Private creditors .. 379 378 225 5 749 281 0 73 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 458 417 248 124 58 29 4 2 1 0 Principal 931 723 573 405 256 206 152 141 137 130 Interest 103 86 74 60 54 47 40 33 27 20 Official creditors Disbursements 338 372 229 124 58 29 4 2 1 0 Principal 238 250 244 242 237 195 149 138 135 130 Interest 52 58 61 59 53 47 40 33 27 20 Bilateral creditors Disbursements 293 329 199 105 51 25 1 1 0 0 Principal 121 161 156 157 156 115 75 73 70 67 Interest 19 29 34 35 32 28 24 20 16 13 Multilateral creditors Disbursements 44 43 30 19 8 5 2 1 1 0 Principal 118 88 88 85 81 81 75 66 65 63 Interest 32 29 26 24 22 19 16 13 10 7 Private creditors Disbursements 120 45 19 0 0 0 0 0 0 0 Principal 693 473 329 164 20 11 2 2 2 0 Interest 51 28 14 1 1 0 0 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 106 11 2 2 2 2 2 2 2 0 Interest 2 0 0 0 0 0 0 0 0 0 Other private Disbursements 120 45 19 0 0 0 0 0 0 0 Principal 586 463 326 161 17 9 0 0 0 0 Interest 50 28 14 1 0 0 0 0 0 0 400 PAKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 3,407 9,931 20,663 30,074 32,263 33,891 32,779 31,704 33,672 36,345 Long-term debt (LDOD) 3,257 8,520 16,643 26,312 28,743 30,358 29,731 28,583 30,100 32,992 Public and publicly guaranteed 3,252 8,502 16,506 23,974 26,141 28,136 27,171 26,485 28,102 31,373 Private nonguaranteed 5 18 138 2,338 2,602 2,221 2,560 2,098 1,998 1,619 Use of IMF credit 45 674 835 1,281 1,360 1,704 1,529 1,807 2,032 2,108 Short-term debt 104 737 3,185 2,481 2,159 1,830 1,519 1,314 1,540 1,245 of which interest arrears on LDOD 0 0 1 0 213 0 0 0 0 0 Official creditors 0 0 1 0 143 0 0 0 0 0 Private creditors 0 0 0 0 70 0 0 0 0 0 Memo: principal arrears on LDOD 0 0 15 0 577 0 0 0 0 0 Official creditors 0 0 15 0 482 0 0 0 0 0 Private creditors 0 0 0 0 94 0 0 0 0 0 Memo: export credits 0 0 2,343 4,779 1,569 2,122 2,573 2,181 2,709 3,366 TOTAL DEBT FLOWS Disbursements 571 1,366 1,746 4,801 2,680 2,659 1,834 2,685 2,353 1,623 Long-term debt 571 1,058 1,746 4,520 2,501 2,048 1,640 2,175 2,011 1,136 IMF purchases 0 308 0 281 178 611 195 510 343 488 Principal repayments 178 492 1,071 2,848 1,441 1,888 1,869 2,132 2,012 2,180 Long-term debt 150 352 905 2,537 1,283 1,652 1,587 1,958 1,744 1,585 IMF repurchases 28 139 166 311 158 236 282 174 268 595 Net flows on debt 393 1,170 1,089 1,618 704 655 -346 348 568 -852 of which short-term debt 0 296 414 -335 -535 -116 -311 -205 226 -295 Interest payments (INT) 81 377 831 1,235 856 1,047 985 864 838 848 Long-term debt 81 248 515 905 711 954 858 755 743 788 IMF charges 0 27 52 37 35 44 49 52 40 25 Short-term debt 0 103 264 294 110 49 78 57 55 35 Net transfers on debt 313 793 258 383 -152 -392 -1,331 -516 -270 -1,700 Total debt service paid (TDS) 259 869 1,902 4,083 2,297 2,935 2,854 2,996 2,850 3,028 Long-term debt 230 600 1,420 3,441 1,994 2,606 2,444 2,713 2,487 2,374 IMF repurchases and charges 28 166 218 348 193 280 332 226 307 619 Short-term debt (interest only) 0 103 264 294 110 49 78 57 55 35 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 498 1,251 1,411 3,204 1,878 1,191 520 1,346 1,453 1,379 Net flow of long-term debt (ex. IMF) 422 706 841 1,983 1,219 396 53 217 266 -450 Foreign direct investment (net) 23 64 245 716 506 532 308 383 823 534 Portfolio equity flows 0 0 0 330 -22 66 35 -130 79 -26 Grants (excluding technical coop.) 53 482 324 174 175 197 124 876 284 1,320 Memo: technical coop. grants 24 120 318 130 119 100 82 92 209 144 official net resource flows 433 1,021 1,228 947 1,024 1,071 538 1,622 1,066 1,247 private net resource flows 64 230 182 2,257 853 120 -18 -276 387 132 NET TRANSFERS 417 998 842 2,017 859 -32 -766 121 134 -303 Interest on long-term debt 81 248 515 905 711 954 858 755 743 788 Profit remittances on FDI 0 6 53 283 307 269 429 470 576 893 Memo: official net transfers 369 819 778 263 502 525 12 1,154 511 596 private net transfers 48 179 64 1,754 357 -557 -778 -1,033 -377 -899 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 10,142 25,601 41,735 61,936 61,626 62,426 71,393 69,335 69,178 80,120 Exports of goods, serv. & inc. (XGS) .. 5,366 8,937 11,830 10,509 10,161 11,312 12,164 15,943 18,978 Worker remit. & comp. of employees 0 2,048 2,006 1,707 1,172 996 1,075 1,461 3,554 3,964 Imports of goods & services (MGS) .. 6,707 11,386 15,775 14,358 13,625 14,484 14,260 15,083 17,675 International reserves (RES) 195 1,568 1,046 1,795 1,626 2,117 2,087 4,218 8,796 11,816 Current account balance .. -866 -1,661 -1,712 -2,248 -920 -85 1,878 3,854 3,573 4. DEBT INDICATORS EDT / XGS (%) .. 185.1 231.2 254.2 307.0 333.5 289.8 260.6 211.2 191.5 EDT / GNI (%) 33.6 38.8 49.5 48.6 52.4 54.3 45.9 45.7 48.7 45.4 TDS / XGS (%) .. 16.2 21.3 34.5 21.9 28.9 25.2 24.6 17.9 16.0 INT / XGS (%) .. 7.0 9.3 10.4 8.1 10.3 8.7 7.1 5.3 4.5 INT / GNI (%) 0.8 1.5 2.0 2.0 1.4 1.7 1.4 1.2 1.2 1.1 RES / EDT (%) 5.7 15.8 5.1 6.0 5.0 6.2 6.4 13.3 26.1 32.5 RES / MGS (months) .. 2.8 1.1 1.4 1.4 1.9 1.7 3.5 7.0 8.0 Short-term / EDT (%) 3.1 7.4 15.4 8.2 6.7 5.4 4.6 4.1 4.6 3.4 Concessional / EDT (%) 68.9 71.6 58.5 50.0 52.2 54.6 55.0 62.0 64.5 66.5 Multilateral / EDT (%) 18.0 15.4 33.4 39.4 40.7 41.7 41.1 41.2 44.1 44.5 401 PAKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 3,257 8,520 16,643 26,312 28,743 30,358 29,731 28,583 30,100 32,992 Public and publicly guaranteed 3,252 8,502 16,506 23,974 26,141 28,136 27,171 26,485 28,102 31,373 Official creditors 2,942 7,952 15,791 21,544 23,715 25,976 25,120 25,173 27,226 30,574 Multilateral 614 1,532 6,894 11,860 13,125 14,132 13,477 13,072 14,854 16,172 Concessional 280 956 3,887 7,116 7,973 8,537 8,192 8,199 9,926 10,813 Bilateral 2,327 6,420 8,897 9,684 10,590 11,844 11,643 12,101 12,371 14,402 Concessional 2,067 6,154 8,207 7,926 8,852 9,964 9,844 11,442 11,799 13,369 Private creditors 311 550 714 2,430 2,427 2,160 2,051 1,312 876 799 Bonds 0 0 0 685 685 623 623 623 445 325 Commercial banks 6 115 401 1,351 1,378 1,149 1,099 601 357 263 Other private 305 435 313 394 364 387 329 88 74 211 Private nonguaranteed 5 18 138 2,338 2,602 2,221 2,560 2,098 1,998 1,619 Bonds 0 0 0 45 45 45 45 0 0 0 Commercial banks and other 5 18 138 2,293 2,557 2,176 2,515 2,098 1,998 1,619 Memo: IBRD 330 330 1,816 3,046 3,136 3,315 3,093 2,796 2,749 2,695 IDA 280 821 2,106 3,526 3,800 3,905 3,828 4,245 5,394 5,869 DISBURSEMENTS 571 1,058 1,746 4,520 2,501 2,048 1,640 2,175 2,011 1,136 Public and publicly guaranteed 569 1,049 1,708 3,842 1,893 1,847 1,523 2,002 1,790 1,056 Official creditors 471 793 1,629 2,616 1,738 1,749 1,518 1,669 1,684 845 Multilateral 94 161 978 1,195 1,006 1,217 1,039 1,629 1,619 678 Concessional 23 103 360 532 579 411 378 1,118 1,174 259 Bilateral 377 631 651 1,421 733 531 479 40 64 166 Concessional 325 539 325 368 638 85 255 16 63 157 Private creditors 98 256 78 1,227 154 98 4 333 106 211 Bonds 0 0 0 375 0 0 0 0 0 0 Commercial banks 0 101 8 821 122 1 0 331 96 50 Other private 98 156 70 31 32 97 4 3 10 161 Private nonguaranteed 3 9 38 678 609 201 117 173 221 80 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 9 38 678 609 201 117 173 221 80 Memo: IBRD 66 16 356 490 130 434 159 70 33 28 IDA 23 74 135 233 218 194 141 599 928 118 PRINCIPAL REPAYMENTS 150 352 905 2,537 1,283 1,652 1,587 1,958 1,744 1,585 Public and publicly guaranteed 149 346 866 2,201 983 1,026 1,142 1,452 1,444 1,206 Official creditors 90 253 725 1,843 889 875 1,104 923 902 918 Multilateral 22 41 307 619 479 604 828 810 840 807 Concessional 0 5 43 111 119 137 165 175 179 209 Bilateral 68 212 418 1,225 410 271 276 113 63 111 Concessional 45 177 359 568 271 11 13 6 0 4 Private creditors 59 92 141 358 94 150 37 529 541 288 Bonds 0 0 0 0 0 75 0 0 178 120 Commercial banks 1 10 88 122 48 66 30 451 340 147 Other private 58 83 53 236 46 9 7 78 23 21 Private nonguaranteed 1 7 39 335 300 626 445 506 301 379 Bonds 0 0 0 0 0 0 0 45 0 0 Commercial banks and other 1 7 39 335 300 626 445 461 301 379 Memo: IBRD 22 26 73 206 196 225 227 232 242 268 IDA 0 4 19 42 47 58 64 68 76 88 NET FLOWS ON DEBT 422 706 841 1,983 1,219 396 53 217 266 -450 Public and publicly guaranteed 420 704 841 1,641 910 821 381 551 346 -150 Official creditors 381 539 904 772 849 873 414 746 781 -73 Multilateral 72 120 672 576 527 613 211 819 780 -128 Concessional 23 99 317 420 460 274 213 943 995 50 Bilateral 309 419 232 196 322 260 203 -73 2 55 Concessional 279 363 -34 -200 367 74 242 10 62 153 Private creditors 39 164 -63 869 60 -52 -33 -196 -435 -77 Bonds 0 0 0 375 0 -75 0 0 -178 -120 Commercial banks -1 91 -80 699 75 -65 -30 -120 -244 -97 Other private 40 73 17 -205 -14 88 -3 -75 -13 140 Private nonguaranteed 2 2 0 342 309 -425 -328 -333 -80 -299 Bonds 0 0 0 0 0 0 0 -45 0 0 Commercial banks and other 2 2 0 342 309 -425 -328 -288 -80 -299 Memo: IBRD 44 -10 283 284 -67 209 -67 -161 -209 -241 IDA 23 70 116 191 171 136 77 531 851 29 402 PAKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 81 248 515 905 711 954 858 755 743 788 Public and publicly guaranteed 81 246 505 760 565 678 641 579 638 699 Official creditors 65 203 450 684 522 545 527 468 555 651 Multilateral 21 61 247 392 342 438 383 361 332 317 Concessional 2 7 30 65 62 78 73 70 82 89 Bilateral 44 142 204 292 181 107 144 107 223 334 Concessional 31 128 174 200 76 46 57 29 184 285 Private creditors 16 44 54 77 43 133 114 110 83 48 Bonds 0 0 0 17 9 54 61 62 58 40 Commercial banks 0 9 38 18 16 69 38 33 18 6 Other private 16 34 16 41 18 10 15 15 8 1 Private nonguaranteed 0 1 11 144 147 276 217 177 105 90 Bonds 0 0 0 2 2 2 2 1 0 0 Commercial banks and other 0 1 11 142 144 274 215 176 105 90 Memo: IBRD 19 33 126 193 182 204 182 159 125 105 IDA 2 6 15 26 26 28 29 28 35 42 NET TRANSFERS ON DEBT 341 458 326 1,079 507 -558 -805 -538 -477 -1,238 Public and publicly guaranteed 339 457 337 881 345 143 -260 -28 -292 -849 Official creditors 316 337 454 89 327 328 -113 278 226 -724 Multilateral 51 60 425 184 186 175 -172 458 448 -446 Concessional 21 92 287 356 398 196 140 873 914 -39 Bilateral 265 277 29 -96 142 153 60 -180 -221 -279 Concessional 248 235 -207 -401 291 28 184 -19 -122 -133 Private creditors 23 121 -117 792 18 -185 -147 -306 -518 -125 Bonds 0 0 0 358 -9 -129 -61 -62 -236 -160 Commercial banks -1 82 -118 681 59 -133 -69 -153 -262 -104 Other private 25 39 1 -247 -32 77 -17 -90 -21 139 Private nonguaranteed 2 1 -11 198 162 -701 -545 -510 -185 -389 Bonds 0 0 0 -2 -2 -2 -2 -46 0 0 Commercial banks and other 2 1 -11 200 164 -699 -542 -464 -185 -389 Memo: IBRD 25 -42 157 91 -249 5 -249 -320 -334 -346 IDA 21 64 101 166 145 108 48 503 817 -12 DEBT SERVICE (LTDS) 230 600 1,420 3,441 1,994 2,606 2,444 2,713 2,487 2,374 Public and publicly guaranteed 230 592 1,371 2,962 1,548 1,704 1,783 2,030 2,082 1,905 Official creditors 155 456 1,175 2,527 1,411 1,421 1,631 1,391 1,457 1,569 Multilateral 43 102 553 1,011 820 1,043 1,211 1,171 1,172 1,124 Concessional 2 12 73 176 181 215 238 245 261 298 Bilateral 112 355 622 1,516 591 378 420 220 286 445 Concessional 77 305 532 769 347 57 71 35 185 289 Private creditors 75 136 196 435 137 283 151 639 624 336 Bonds 0 0 0 17 9 129 61 62 236 160 Commercial banks 1 19 126 140 64 135 69 484 358 154 Other private 74 117 69 277 64 19 22 93 31 22 Private nonguaranteed 1 8 49 479 447 902 662 683 406 469 Bonds 0 0 0 2 2 2 2 46 0 0 Commercial banks and other 1 8 49 477 444 900 659 637 406 469 Memo: IBRD 41 58 199 399 379 429 409 390 367 373 IDA 2 9 34 68 73 86 93 96 111 130 UNDISBURSED DEBT 1,609 2,822 9,153 7,115 6,548 5,175 3,426 3,496 3,492 3,818 Official creditors 1,396 2,677 8,921 6,765 6,331 5,120 3,352 3,026 3,161 3,746 Private creditors 213 145 231 350 217 55 74 470 332 72 Memorandum items Concessional LDOD 2,347 7,110 12,094 15,041 16,826 18,501 18,035 19,642 21,725 24,181 Variable rate LDOD 5 129 2,232 8,994 9,743 8,931 9,132 7,262 8,372 9,182 Public sector LDOD 3,130 8,432 16,374 23,914 26,081 27,976 26,993 26,387 28,022 31,317 Private sector LDOD 127 88 269 2,398 2,661 2,382 2,738 2,196 2,079 1,675 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 12.6 10.8 12.0 Deutsche mark 8.7 9.1 10.2 5.9 5.7 4.8 4.5 .. .. .. French franc 1.5 3.2 1.8 2.2 2.2 2.4 2.6 .. .. .. Japanese yen 5.6 8.4 13.6 13.0 15.6 17.6 16.9 13.7 17.6 17.9 Pound sterling 15.2 3.7 1.5 0.8 0.8 0.7 0.7 0.5 0.5 0.4 Swiss franc 0.6 0.4 0.3 0.3 0.3 0.2 0.3 0.2 0.1 0.3 U.S.dollars 45.6 53.8 35.7 40.7 38.6 39.4 41.5 41.5 41.7 42.0 Multiple currency 16.1 9.6 26.2 31.1 31.2 30.0 28.1 25.1 24.9 23.0 Special drawing rights 0.0 0.0 3.1 3.0 3.1 3.1 3.1 3.0 3.0 2.9 All other currencies 6.5 11.7 7.6 3.0 2.5 1.8 2.4 3.3 1.3 1.5 403 PAKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 0 0 3,421 918 13,268 157 10 Debt stock rescheduled .. .. 0 0 0 615 29 11,395 0 0 Principal rescheduled .. .. 0 0 0 2,158 653 1,325 0 0 Official .. .. 0 0 0 1,453 575 1,187 0 0 Private .. .. 0 0 0 705 78 138 0 0 Interest rescheduled .. .. 0 0 0 625 236 129 146 7 Official .. .. 0 0 0 508 200 109 145 7 Private .. .. 0 0 0 118 37 20 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 .. .. 2,315 245 2,189 1,629 -1,112 -1,075 1,968 2,674 Net flows on debt 393 1,170 1,089 1,618 704 655 -346 348 568 -852 Net change in interest arrears .. .. 0 0 213 -213 0 0 0 0 Interest capitalized .. .. 0 0 0 625 236 129 146 7 Debt forgiveness or reduction .. .. 0 0 0 0 0 0 0 0 Cross-currency valuation .. .. 1,085 -1,856 1,129 495 -1,669 -1,852 2,217 2,982 Residual .. .. 141 482 143 67 666 300 -962 536 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.6 4.4 5.3 5.2 5.1 4.8 6.3 2.8 1.9 1.7 Maturity (years) 31.7 30.1 22.5 12.0 18.1 14.8 12.5 19.9 23.7 19.9 Grace period (years) 11.5 6.6 6.1 3.4 5.0 3.9 3.0 5.4 6.5 4.8 Grant element (%) 60.7 47.9 34.6 21.5 32.0 25.5 19.9 46.7 56.7 52.7 Official creditors Interest (%) 2.1 2.5 5.2 5.0 4.9 4.8 6.2 1.9 1.9 1.7 Maturity (years) 35.0 35.5 22.9 18.9 19.3 14.8 12.8 24.3 23.7 19.7 Grace period (years) 13.1 8.2 6.1 5.2 5.3 3.9 3.1 6.8 6.5 4.7 Grant element (%) 67.3 62.2 35.5 32.5 34.6 25.5 20.7 57.7 56.7 52.4 Private creditors Interest (%) 5.7 11.3 8.8 5.5 7.1 0.0 8.0 5.2 0.0 1.8 Maturity (years) 11.2 10.8 11.3 3.3 6.5 0.0 5.3 7.1 0.0 30.0 Grace period (years) 1.9 0.9 4.8 1.2 2.1 0.0 1.0 1.3 0.0 9.0 Grant element (%) 17.9 -4.0 5.1 7.6 7.2 0.0 4.5 14.3 0.0 66.5 Memorandum items Commitments 1,054 1,113 2,925 3,129 1,974 940 865 3,081 1,863 1,348 Official creditors 912 873 2,843 1,738 1,790 940 820 2,299 1,863 1,320 Private creditors 143 240 82 1,392 184 0 45 782 0 28 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,197 935 671 358 193 95 46 24 8 4 Principal 1,816 1,762 1,591 1,588 1,489 1,337 1,292 1,209 1,192 1,144 Interest 793 750 707 672 613 569 528 491 458 430 Official creditors Disbursements 1,159 910 665 356 192 95 46 24 8 4 Principal 1,017 1,198 1,253 1,340 1,333 1,225 1,202 1,145 1,150 1,129 Interest 675 672 653 634 591 551 515 481 453 427 Bilateral creditors Disbursements 87 109 72 49 27 15 9 5 0 0 Principal 108 291 308 362 355 278 290 247 252 254 Interest 356 357 347 349 337 324 313 303 295 287 Multilateral creditors Disbursements 1,072 801 593 307 164 79 37 18 8 4 Principal 909 907 945 978 978 946 913 898 898 875 Interest 319 314 305 285 255 227 201 178 158 140 Private creditors Disbursements 38 25 6 2 1 0 0 0 0 0 Principal 800 564 338 248 156 112 90 64 41 16 Interest 117 78 55 38 22 18 13 10 5 3 Commercial banks Disbursements 27 13 1 0 0 0 0 0 0 0 Principal 100 100 65 12 12 12 1 0 0 0 Interest 6 4 2 1 1 0 0 0 0 0 Other private Disbursements 11 12 6 2 1 0 0 0 0 0 Principal 699 463 273 235 144 100 89 64 41 16 Interest 112 74 53 37 21 18 13 10 5 3 404 PANAMA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 229 2,973 6,506 6,031 6,416 6,847 7,046 8,246 8,298 8,770 Long-term debt (LDOD) 194 2,269 3,855 5,427 5,776 6,254 6,491 7,728 7,878 8,286 Public and publicly guaranteed 194 2,269 3,855 5,082 5,427 5,687 5,711 6,332 6,409 6,563 Private nonguaranteed 0 0 0 344 349 567 780 1,395 1,469 1,723 Use of IMF credit 0 23 272 142 177 149 90 54 50 45 Short-term debt 35 681 2,379 462 463 444 464 464 371 439 of which interest arrears on LDOD 0 1 979 50 22 1 1 1 0 0 Official creditors 0 0 266 0 0 0 0 0 0 0 Private creditors 0 1 713 50 22 1 1 1 0 0 Memo: principal arrears on LDOD 0 0 1,984 168 109 2 2 2 1 1 Official creditors 0 0 553 5 3 0 0 0 0 0 Private creditors 0 0 1,431 163 107 2 2 2 1 1 Memo: export credits 0 0 204 247 291 118 109 75 149 178 TOTAL DEBT FLOWS Disbursements 67 404 6 1,789 775 911 725 1,913 1,325 696 Long-term debt 67 404 6 1,743 735 911 725 1,913 1,325 696 IMF purchases 0 0 0 46 41 0 0 0 0 0 Principal repayments 25 232 121 1,239 359 333 463 662 1,154 407 Long-term debt 24 215 51 1,213 346 309 412 628 1,146 398 IMF repurchases 2 17 70 26 13 24 52 33 8 9 Net flows on debt 42 361 -115 283 445 580 282 1,251 79 358 of which short-term debt 0 189 0 -267 29 2 20 0 -93 69 Interest payments (INT) 7 256 224 331 369 408 455 514 522 548 Long-term debt 7 252 91 301 336 376 419 481 510 534 IMF charges 0 3 16 6 7 7 7 4 2 1 Short-term debt 0 2 117 24 27 26 30 30 11 13 Net transfers on debt 35 105 -339 -48 75 172 -173 737 -444 -190 Total debt service paid (TDS) 32 488 345 1,570 729 741 918 1,176 1,677 955 Long-term debt 30 466 141 1,514 682 685 830 1,110 1,656 932 IMF repurchases and charges 2 20 87 32 20 30 58 37 10 10 Short-term debt (interest only) 0 2 117 24 27 26 30 30 11 13 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 76 414 216 1,841 1,602 1,478 1,024 1,700 266 1,109 Net flow of long-term debt (ex. IMF) 44 189 -44 530 389 601 313 1,285 179 298 Foreign direct investment (net) 33 219 136 1,299 1,203 864 700 405 78 792 Portfolio equity flows 0 0 -1 0 0 0 0 0 0 0 Grants (excluding technical coop.) -1 6 126 11 11 12 10 10 9 19 Memo: technical coop. grants 8 9 -16 25 27 23 23 28 31 37 official net resource flows 10 83 87 131 146 16 -1 8 65 32 private net resource flows 66 331 129 1,710 1,456 1,462 1,024 1,692 201 1,077 NET TRANSFERS 69 -294 -71 1,024 628 378 26 638 -521 -137 Interest on long-term debt 7 252 91 301 336 376 419 481 510 534 Profit remittances on FDI 0 456 196 516 638 724 579 581 277 712 Memo: official net transfers 7 49 -1 65 78 -62 -80 -74 -3 -37 private net transfers 62 -343 -70 960 550 441 106 711 -518 -100 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,034 3,393 5,051 9,672 10,408 10,765 11,007 11,205 11,932 12,068 Exports of goods, serv. & inc. (XGS) .. 7,855 5,595 9,843 9,919 8,652 9,425 9,442 8,630 8,456 Worker remit. & comp. of employees 0 65 110 64 58 48 16 73 85 85 Imports of goods & services (MGS) .. 8,222 5,588 10,484 11,077 9,966 10,258 9,766 8,885 9,054 International reserves (RES) 16 117 344 1,148 954 823 723 1,092 1,183 1,011 Current account balance .. -329 209 -507 -1,016 -1,159 -673 -170 -96 -442 4. DEBT INDICATORS EDT / XGS (%) .. 37.8 116.3 61.3 64.7 79.1 74.8 87.3 96.1 103.7 EDT / GNI (%) 22.1 87.6 128.8 62.4 61.6 63.6 64.0 73.6 69.5 72.7 TDS / XGS (%) .. 6.2 6.2 15.9 7.3 8.6 9.7 12.5 19.4 11.3 INT / XGS (%) .. 3.3 4.0 3.4 3.7 4.7 4.8 5.4 6.1 6.5 INT / GNI (%) 0.7 7.5 4.4 3.4 3.5 3.8 4.1 4.6 4.4 4.5 RES / EDT (%) 6.9 3.9 5.3 19.0 14.9 12.0 10.3 13.2 14.3 11.5 RES / MGS (months) .. 0.2 0.7 1.3 1.0 1.0 0.8 1.3 1.6 1.3 Short-term / EDT (%) 15.3 22.9 36.6 7.7 7.2 6.5 6.6 5.6 4.5 5.0 Concessional / EDT (%) 34.2 8.9 6.1 6.8 6.3 5.9 5.1 3.9 4.1 3.9 Multilateral / EDT (%) 16.5 10.9 15.7 12.8 15.3 15.0 14.6 12.8 13.6 13.5 405 PANAMA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 194 2,269 3,855 5,427 5,776 6,254 6,491 7,728 7,878 8,286 Public and publicly guaranteed 194 2,269 3,855 5,082 5,427 5,687 5,711 6,332 6,409 6,563 Official creditors 93 593 1,502 1,145 1,329 1,349 1,297 1,265 1,360 1,418 Multilateral 38 325 1,019 772 983 1,028 1,030 1,053 1,131 1,186 Concessional 29 127 200 123 121 126 117 114 112 108 Bilateral 55 268 483 373 345 321 266 212 229 231 Concessional 49 138 194 288 284 281 245 209 228 231 Private creditors 101 1,676 2,353 3,938 4,098 4,338 4,415 5,067 5,049 5,145 Bonds 29 395 260 3,328 3,600 3,925 4,141 4,882 4,920 5,034 Commercial banks 6 1,161 1,970 566 489 402 262 176 121 105 Other private 66 120 123 43 9 11 11 9 8 6 Private nonguaranteed 0 0 0 344 349 567 780 1,395 1,469 1,723 Bonds 0 0 0 321 246 266 266 520 427 510 Commercial banks and other 0 0 0 23 103 301 514 875 1,042 1,213 Memo: IBRD 7 133 462 209 279 288 283 282 287 270 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 67 404 6 1,743 735 911 725 1,913 1,325 696 Public and publicly guaranteed 67 404 6 1,469 650 666 487 1,235 1,079 421 Official creditors 15 95 6 240 247 113 99 106 141 134 Multilateral 6 68 0 200 235 94 88 97 117 128 Concessional 6 23 0 1 8 8 7 8 12 10 Bilateral 9 27 6 39 12 19 11 8 23 6 Concessional 8 10 0 39 12 19 11 8 23 6 Private creditors 52 309 0 1,230 403 553 388 1,129 938 287 Bonds 0 25 0 1,200 352 517 370 1,123 930 275 Commercial banks 0 272 0 30 51 34 17 6 8 12 Other private 52 13 0 0 0 2 2 0 0 0 Private nonguaranteed 0 0 0 274 85 245 238 679 247 275 Bonds 0 0 0 246 0 20 0 267 0 0 Commercial banks and other 0 0 0 28 85 225 238 412 247 275 Memo: IBRD 0 20 0 53 91 31 22 26 30 16 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 24 215 51 1,213 346 309 412 628 1,146 398 Public and publicly guaranteed 24 215 51 1,209 266 283 387 558 951 294 Official creditors 5 18 45 121 111 109 109 108 84 121 Multilateral 2 9 43 69 60 54 58 59 69 107 Concessional 1 3 0 9 10 10 9 11 14 18 Bilateral 3 8 2 51 51 55 52 49 15 14 Concessional 2 2 0 29 29 35 33 32 13 13 Private creditors 19 197 6 1,088 155 173 277 450 867 172 Bonds 1 9 2 987 59 156 120 356 802 143 Commercial banks 2 165 1 95 94 16 156 92 63 28 Other private 16 23 3 6 3 1 1 2 2 2 Private nonguaranteed 0 0 0 5 80 27 25 70 195 104 Bonds 0 0 0 0 75 0 0 20 115 0 Commercial banks and other 0 0 0 5 5 27 25 50 80 104 Memo: IBRD 1 6 41 29 26 21 24 26 27 35 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 44 189 -44 530 389 601 313 1,285 179 298 Public and publicly guaranteed 44 189 -44 261 384 383 100 677 127 127 Official creditors 11 77 -39 119 136 4 -11 -3 56 13 Multilateral 5 59 -43 131 175 40 30 39 48 21 Concessional 5 20 0 -9 -2 -2 -2 -3 -2 -8 Bilateral 6 18 4 -12 -39 -36 -41 -41 8 -8 Concessional 6 8 0 10 -17 -16 -23 -23 10 -7 Private creditors 33 112 -5 142 248 379 111 679 71 115 Bonds -1 16 -2 213 293 361 249 767 128 132 Commercial banks -2 106 -1 -65 -43 18 -139 -86 -55 -16 Other private 36 -10 -3 -6 -3 1 0 -2 -2 -2 Private nonguaranteed 0 0 0 269 5 218 213 608 52 171 Bonds 0 0 0 246 -75 20 0 247 -115 0 Commercial banks and other 0 0 0 23 80 198 213 361 167 171 Memo: IBRD -1 15 -41 25 65 9 -2 0 3 -19 IDA 0 0 0 0 0 0 0 0 0 0 406 PANAMA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 7 252 91 301 336 376 419 481 510 534 Public and publicly guaranteed 7 252 91 292 300 336 366 421 437 470 Official creditors 3 35 88 66 68 78 79 81 68 68 Multilateral 1 20 85 45 53 66 69 72 62 62 Concessional 1 3 9 3 2 3 4 4 3 3 Bilateral 1 15 2 21 15 13 10 9 6 6 Concessional 1 4 0 13 9 9 8 7 5 6 Private creditors 4 217 3 226 232 258 287 339 369 402 Bonds 1 40 0 163 198 234 264 325 361 396 Commercial banks 0 168 0 59 32 23 21 14 8 6 Other private 3 9 3 3 2 1 1 1 0 0 Private nonguaranteed 0 0 0 9 36 39 53 61 73 64 Bonds 0 0 0 8 30 22 24 31 38 32 Commercial banks and other 0 0 0 1 6 17 29 30 35 32 Memo: IBRD 0 12 27 15 15 19 21 20 18 15 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 37 -62 -135 230 53 226 -105 804 -330 -236 Public and publicly guaranteed 37 -62 -135 -31 84 47 -266 256 -310 -343 Official creditors 8 42 -127 53 68 -74 -90 -84 -12 -56 Multilateral 3 39 -128 87 122 -25 -39 -34 -14 -42 Concessional 4 17 -9 -11 -4 -5 -6 -7 -5 -11 Bilateral 5 4 1 -34 -54 -49 -51 -50 3 -14 Concessional 5 4 0 -3 -26 -25 -30 -30 5 -13 Private creditors 29 -105 -9 -84 16 122 -176 340 -298 -287 Bonds -2 -24 -2 50 95 127 -15 442 -233 -263 Commercial banks -3 -61 -1 -124 -74 -6 -160 -100 -63 -22 Other private 33 -20 -6 -9 -5 1 -1 -2 -2 -2 Private nonguaranteed 0 0 0 260 -31 179 160 547 -21 107 Bonds 0 0 0 239 -105 -2 -24 216 -153 -32 Commercial banks and other 0 0 0 22 74 181 184 331 132 139 Memo: IBRD -1 3 -68 10 50 -9 -23 -20 -15 -34 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 30 466 141 1,514 682 685 830 1,110 1,656 932 Public and publicly guaranteed 30 466 141 1,500 566 619 753 979 1,389 764 Official creditors 7 52 132 187 179 188 189 189 152 190 Multilateral 3 29 128 114 113 120 127 131 132 170 Concessional 2 6 9 12 12 13 13 14 17 21 Bilateral 4 23 4 73 66 68 62 58 21 20 Concessional 3 6 0 42 39 44 41 38 19 19 Private creditors 23 414 9 1,314 387 431 564 789 1,236 574 Bonds 2 49 2 1,150 257 390 385 680 1,163 538 Commercial banks 3 333 1 154 125 39 177 106 71 34 Other private 19 32 6 9 5 2 2 2 2 2 Private nonguaranteed 0 0 0 14 116 66 78 131 267 168 Bonds 0 0 0 8 105 22 24 51 153 32 Commercial banks and other 0 0 0 6 11 43 54 80 115 136 Memo: IBRD 1 17 68 44 41 40 45 46 45 50 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 96 594 222 679 802 832 738 627 589 492 Official creditors 92 522 214 534 701 736 719 613 572 478 Private creditors 5 73 8 146 101 96 19 14 17 14 Memorandum items Concessional LDOD 78 265 394 411 404 407 362 323 339 339 Variable rate LDOD 0 1,197 2,186 3,055 3,008 2,984 2,918 3,304 3,026 3,206 Public sector LDOD 194 2,269 3,855 5,082 5,427 5,687 5,711 6,332 6,409 6,563 Private sector LDOD 0 0 0 344 349 567 780 1,395 1,469 1,723 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 0.1 0.1 0.1 Deutsche mark 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 .. .. .. Japanese yen 0.0 9.6 9.8 2.5 2.1 2.2 1.8 1.3 1.3 1.3 Pound sterling 0.0 0.0 0.7 0.2 0.2 0.1 0.1 0.0 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 86.1 89.6 90.4 91.8 93.6 94.0 94.4 Multiple currency 5.2 11.4 24.6 10.4 7.1 6.6 5.8 4.7 4.4 4.0 Special drawing rights 0.0 0.0 0.5 0.3 0.5 0.5 0.4 0.3 0.2 0.2 All other currencies 0.0 7.8 2.2 0.4 0.3 0.2 0.1 0.0 0.0 0.0 407 PANAMA (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 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 56 29 3 0 3 3 7 Memo: interest forgiven .. .. 0 0 0 0 0 0 0 0 Debt stock reduction .. .. 0 1,227 80 155 154 361 531 11 of which debt buyback .. .. 0 987 58 123 120 337 445 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 273 -47 385 430 199 1,200 52 472 Net flows on debt 42 361 -115 283 445 580 282 1,251 79 358 Net change in interest arrears .. .. 330 1 -28 -21 0 0 -1 0 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -296 -51 -35 -34 -27 -90 -18 Cross-currency valuation .. .. 74 -107 11 8 -42 -29 -16 -15 Residual .. .. -16 71 9 -101 -7 5 81 148 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.9 11.3 5.0 8.2 6.7 8.5 9.3 8.6 5.0 8.3 Maturity (years) 15.0 11.4 8.3 19.5 13.9 27.1 19.9 11.1 24.3 27.8 Grace period (years) 4.0 4.5 4.8 16.1 6.8 23.0 15.8 9.3 4.6 25.4 Grant element (%) 16.9 -4.2 22.6 11.2 18.5 10.7 1.4 7.5 33.5 13.2 Official creditors Interest (%) 6.0 6.3 5.0 7.2 5.7 6.5 5.8 5.2 5.1 6.1 Maturity (years) 24.5 15.4 8.3 20.7 17.1 24.2 22.8 19.7 26.1 20.0 Grace period (years) 6.2 5.3 4.8 5.4 4.6 5.9 4.6 4.8 5.0 5.2 Grant element (%) 27.9 21.2 22.6 17.7 23.8 25.0 29.2 28.8 35.4 25.2 Private creditors Interest (%) 7.9 15.2 0.0 8.4 8.0 9.0 10.4 9.1 4.4 8.7 Maturity (years) 4.3 8.3 0.0 19.1 9.7 27.9 19.0 9.9 6.7 29.2 Grace period (years) 1.6 4.0 0.0 18.9 9.6 27.7 19.0 9.9 1.0 29.1 Grant element (%) 4.5 -24.0 0.0 9.5 11.4 6.7 -6.6 4.5 16.2 11.0 Memorandum items Commitments 111 533 4 1,578 832 698 479 1,283 113 336 Official creditors 59 233 4 329 473 151 107 159 102 52 Private creditors 52 300 0 1,248 358 547 372 1,124 11 284 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 169 133 89 51 25 12 6 4 2 0 Principal 553 449 804 341 958 272 256 991 892 202 Interest 580 561 534 508 472 432 421 374 305 258 Official creditors Disbursements 162 129 87 51 25 12 6 4 2 0 Principal 160 163 158 152 147 138 132 127 117 106 Interest 76 73 68 62 56 50 43 37 31 25 Bilateral creditors Disbursements 3 3 2 2 1 1 1 0 0 0 Principal 16 15 12 13 14 13 14 14 14 14 Interest 6 5 5 5 4 4 4 3 3 3 Multilateral creditors Disbursements 158 127 85 49 24 11 6 3 2 0 Principal 144 148 146 139 133 125 119 113 103 92 Interest 70 67 63 58 52 46 40 34 28 23 Private creditors Disbursements 8 4 2 1 0 0 0 0 0 0 Principal 393 286 646 189 811 135 124 865 775 95 Interest 504 489 466 446 416 383 378 337 274 232 Commercial banks Disbursements 8 4 2 1 0 0 0 0 0 0 Principal 28 18 16 15 11 10 8 7 2 1 Interest 4 3 3 2 1 1 1 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 365 268 630 174 799 124 116 858 773 94 Interest 500 485 464 444 414 382 377 337 273 232 408 PAPUA NEW GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 209 719 2,594 2,590 2,712 2,695 2,592 2,505 2,477 2,463 Long-term debt (LDOD) 209 624 2,461 2,388 2,510 2,576 2,504 2,329 2,297 2,231 Public and publicly guaranteed 36 485 1,523 1,338 1,430 1,517 1,490 1,397 1,479 1,504 Private nonguaranteed 173 139 938 1,049 1,080 1,059 1,014 932 818 727 Use of IMF credit 0 31 61 48 46 22 39 108 116 122 Short-term debt 0 64 72 154 157 97 49 68 64 111 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 0 223 497 118 105 96 63 52 56 TOTAL DEBT FLOWS Disbursements 154 150 681 525 235 81 293 266 59 40 Long-term debt 154 135 623 525 235 81 254 194 59 40 IMF purchases 0 15 58 0 0 0 38 72 0 0 Principal repayments 20 78 391 425 213 148 216 191 208 223 Long-term debt 20 72 388 425 209 126 196 190 208 217 IMF repurchases 0 7 3 0 4 23 19 1 0 5 Net flows on debt 134 108 197 220 25 -127 29 94 -154 -135 of which short-term debt 0 36 -93 120 3 -59 -48 19 -5 47 Interest payments (INT) 10 72 162 107 98 64 90 78 69 72 Long-term debt 10 52 156 100 88 56 85 73 65 69 IMF charges 0 1 0 2 2 1 1 3 3 2 Short-term debt 0 19 6 4 8 7 4 2 1 1 Net transfers on debt 124 36 35 114 -74 -191 -61 15 -223 -208 Total debt service paid (TDS) 30 150 553 532 312 213 306 270 277 295 Long-term debt 30 123 544 525 298 182 282 264 273 286 IMF repurchases and charges 0 7 3 2 6 24 20 4 3 7 Short-term debt (interest only) 0 19 6 4 8 7 4 2 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 278 418 694 316 344 347 252 137 -29 28 Net flow of long-term debt (ex. IMF) 134 64 235 100 26 -45 58 4 -149 -178 Foreign direct investment (net) 0 76 155 29 110 297 96 63 21 101 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 144 279 304 187 208 95 98 70 99 105 Memo: technical coop. grants 1 13 44 110 111 104 144 133 136 149 official net resource flows 149 313 490 182 211 79 206 135 46 26 private net resource flows 128 105 204 134 133 268 45 2 -75 2 NET TRANSFERS 268 163 381 -33 79 52 -31 -142 -317 -283 Interest on long-term debt 10 52 156 100 88 56 85 73 65 69 Profit remittances on FDI 0 204 158 248 176 239 198 206 224 243 Memo: official net transfers 149 306 450 129 164 32 156 90 2 -16 private net transfers 118 -143 -70 -162 -85 19 -188 -232 -319 -267 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 626 2,488 3,098 4,711 3,618 3,830 3,426 3,025 2,730 2,739 Exports of goods, serv. & inc. (XGS) .. 1,089 1,487 2,592 2,112 2,194 2,369 2,118 1,846 2,473 Worker remit. & comp. of employees 0 5 5 14 10 8 7 6 6 6 Imports of goods & services (MGS) .. 1,561 1,719 2,752 2,152 2,090 2,013 1,845 1,784 2,291 International reserves (RES) .. 458 427 381 211 223 304 440 343 520 Current account balance .. -289 -76 -99 47 120 351 286 .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 66.0 174.4 99.9 128.4 122.9 109.4 118.3 134.2 99.6 EDT / GNI (%) 33.4 28.9 83.7 55.0 75.0 70.4 75.7 82.8 90.7 89.9 TDS / XGS (%) .. 13.8 37.2 20.5 14.8 9.7 12.9 12.7 15.0 11.9 INT / XGS (%) .. 6.6 10.9 4.1 4.7 2.9 3.8 3.7 3.7 2.9 INT / GNI (%) 1.6 2.9 5.2 2.3 2.7 1.7 2.6 2.6 2.5 2.6 RES / EDT (%) .. 63.7 16.5 14.7 7.8 8.3 11.7 17.6 13.9 21.1 RES / MGS (months) .. 3.5 3.0 1.7 1.2 1.3 1.8 2.9 2.3 2.7 Short-term / EDT (%) 0.0 8.9 2.8 5.9 5.8 3.6 1.9 2.7 2.6 4.5 Concessional / EDT (%) 0.5 11.9 21.6 29.9 31.8 36.8 35.4 32.1 34.9 36.2 Multilateral / EDT (%) 0.8 21.2 29.5 31.0 31.7 34.1 33.3 34.0 36.1 36.4 409 PAPUA NEW GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 209 624 2,461 2,388 2,510 2,576 2,504 2,329 2,297 2,231 Public and publicly guaranteed 36 485 1,523 1,338 1,430 1,517 1,490 1,397 1,479 1,504 Official creditors 4 184 1,074 1,238 1,347 1,449 1,430 1,332 1,392 1,410 Multilateral 2 152 764 804 861 919 863 852 895 898 Concessional 1 79 362 401 429 497 454 401 444 443 Bilateral 2 32 310 434 486 530 567 481 497 512 Concessional 0 7 199 374 435 496 465 402 422 449 Private creditors 32 302 449 101 83 68 60 65 87 94 Bonds 0 85 37 0 0 0 0 0 0 0 Commercial banks 32 211 307 69 61 53 54 63 87 94 Other private 0 6 105 32 22 15 6 2 0 0 Private nonguaranteed 173 139 938 1,049 1,080 1,059 1,014 932 818 727 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 173 139 938 1,049 1,080 1,059 1,014 932 818 727 Memo: IBRD 1 55 235 269 267 241 244 275 272 269 IDA 1 55 115 101 100 97 92 88 87 86 DISBURSEMENTS 154 135 623 525 235 81 254 194 59 40 Public and publicly guaranteed 43 120 280 140 101 79 219 184 59 40 Official creditors 5 40 234 120 100 76 206 154 33 25 Multilateral 1 36 180 72 44 46 67 111 26 21 Concessional 1 20 77 11 12 13 12 3 7 6 Bilateral 4 4 54 47 56 30 139 43 7 4 Concessional 0 4 28 46 33 30 56 42 4 3 Private creditors 37 80 45 20 1 3 13 30 27 15 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 37 75 20 20 1 3 13 30 27 15 Other private 0 5 25 0 0 0 0 0 0 0 Private nonguaranteed 111 15 343 386 134 2 35 10 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 111 15 343 386 134 2 35 10 0 0 Memo: IBRD 1 2 64 48 14 8 43 66 9 7 IDA 1 13 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 20 72 388 425 209 126 196 190 208 217 Public and publicly guaranteed 0 32 184 208 116 109 116 98 94 126 Official creditors 0 6 48 125 97 92 97 90 86 104 Multilateral 0 3 35 47 48 55 54 51 50 49 Concessional 0 1 15 6 6 8 10 10 12 13 Bilateral 0 3 13 77 50 37 44 39 36 55 Concessional 0 1 2 24 17 20 33 36 22 24 Private creditors 0 25 136 83 19 17 19 9 8 23 Bonds 0 8 0 0 0 0 0 0 0 0 Commercial banks 0 17 129 73 9 10 10 7 7 23 Other private 0 0 7 10 10 7 9 2 2 0 Private nonguaranteed 20 40 204 217 93 16 80 92 114 91 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 20 40 204 217 93 16 80 92 114 91 Memo: IBRD 0 2 14 28 29 31 29 25 24 22 IDA 0 0 1 2 2 3 3 3 3 4 NET FLOWS ON DEBT 134 64 235 100 26 -45 58 4 -149 -178 Public and publicly guaranteed 43 89 96 -68 -15 -31 103 86 -35 -87 Official creditors 5 34 186 -5 3 -16 109 65 -53 -79 Multilateral 1 33 145 25 -4 -9 13 61 -24 -28 Concessional 1 19 62 5 6 5 2 -7 -5 -7 Bilateral 4 1 41 -30 7 -8 96 4 -29 -51 Concessional 0 4 26 23 16 10 23 6 -18 -21 Private creditors 37 55 -91 -64 -18 -14 -5 21 18 -8 Bonds 0 -8 0 0 0 0 0 0 0 0 Commercial banks 37 58 -109 -54 -8 -7 3 23 20 -8 Other private 0 4 18 -10 -10 -7 -9 -2 -2 0 Private nonguaranteed 91 -25 139 169 41 -14 -45 -82 -114 -91 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 91 -25 139 169 41 -14 -45 -82 -114 -91 Memo: IBRD 1 0 50 20 -15 -23 15 40 -14 -15 IDA 1 12 -1 -2 -2 -3 -3 -3 -3 -4 410 PAPUA NEW GUINEA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 10 52 156 100 88 56 85 73 65 69 Public and publicly guaranteed 1 30 86 64 54 53 55 48 47 46 Official creditors 0 7 40 53 47 47 50 46 44 42 Multilateral 0 6 27 34 32 32 32 28 26 23 Concessional 0 1 3 4 4 5 5 4 4 4 Bilateral 0 2 13 20 15 14 18 18 18 19 Concessional 0 0 5 12 11 12 16 12 12 12 Private creditors 1 23 46 10 7 6 5 3 4 4 Bonds 0 7 3 0 0 0 0 0 0 0 Commercial banks 1 15 36 7 5 5 3 3 4 4 Other private 0 0 8 3 2 1 1 0 0 0 Private nonguaranteed 8 22 70 37 35 3 31 25 17 23 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 22 70 37 35 3 31 25 17 23 Memo: IBRD 0 4 14 18 16 15 15 13 11 9 IDA 0 0 1 1 1 1 1 1 1 1 NET TRANSFERS ON DEBT 124 12 79 0 -62 -101 -27 -69 -213 -247 Public and publicly guaranteed 41 59 10 -132 -69 -83 49 37 -82 -133 Official creditors 5 27 146 -58 -44 -63 59 19 -97 -121 Multilateral 1 28 118 -9 -36 -41 -19 33 -50 -51 Concessional 1 19 58 1 2 0 -3 -11 -9 -11 Bilateral 4 -1 28 -50 -9 -22 77 -13 -47 -69 Concessional 0 3 21 11 5 -2 7 -6 -30 -33 Private creditors 36 32 -137 -74 -25 -20 -10 18 15 -12 Bonds 0 -15 -3 0 0 0 0 0 0 0 Commercial banks 36 43 -145 -61 -12 -12 0 20 16 -12 Other private 0 4 11 -13 -12 -8 -10 -2 -2 0 Private nonguaranteed 83 -47 69 132 7 -17 -76 -107 -131 -114 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 83 -47 69 132 7 -17 -76 -107 -131 -114 Memo: IBRD 1 -4 35 1 -32 -38 -1 27 -25 -24 IDA 1 12 -2 -3 -3 -3 -3 -4 -4 -4 DEBT SERVICE (LTDS) 30 123 544 525 298 182 282 264 273 286 Public and publicly guaranteed 1 61 270 272 170 162 171 147 141 172 Official creditors 0 14 88 178 144 139 147 135 129 146 Multilateral 0 9 62 81 79 87 86 79 76 73 Concessional 0 2 18 10 11 12 14 14 16 17 Bilateral 0 5 26 97 65 51 62 56 54 73 Concessional 0 1 7 35 28 31 49 48 34 36 Private creditors 1 48 182 94 26 23 23 12 12 26 Bonds 0 15 3 0 0 0 0 0 0 0 Commercial banks 1 32 165 80 13 15 13 9 10 26 Other private 0 1 15 13 12 8 10 2 2 0 Private nonguaranteed 29 62 274 254 128 20 111 117 131 114 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 29 62 274 254 128 20 111 117 131 114 Memo: IBRD 0 6 28 47 45 46 44 39 34 31 IDA 0 0 2 3 3 3 3 4 4 4 UNDISBURSED DEBT 41 181 527 404 266 318 378 353 347 308 Official creditors 41 151 476 398 261 315 356 307 324 298 Private creditors 0 30 51 6 5 3 22 46 23 10 Memorandum items Concessional LDOD 1 86 561 775 863 993 919 803 865 892 Variable rate LDOD 173 271 1,338 1,308 1,366 1,350 1,321 1,312 1,208 1,131 Public sector LDOD 36 462 1,501 1,338 1,406 1,499 1,476 1,397 1,479 1,504 Private sector LDOD 173 162 960 1,049 1,104 1,077 1,027 932 818 727 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.8 3.2 3.5 Deutsche mark 0.0 5.2 1.8 1.4 1.3 0.9 0.8 .. .. .. French franc 0.0 0.0 0.2 0.1 0.1 0.1 0.0 .. .. .. Japanese yen 0.0 4.4 20.4 26.5 28.5 31.0 29.3 27.0 28.6 30.7 Pound sterling 0.0 2.7 2.1 1.4 1.2 1.0 0.8 0.0 0.0 0.0 Swiss franc 0.0 5.8 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.1 U.S.dollars 2.7 35.0 27.3 19.2 19.7 18.5 20.8 26.4 25.4 26.0 Multiple currency 2.1 27.4 37.9 46.1 45.1 44.9 39.0 34.8 34.4 32.3 Special drawing rights 0.0 0.0 0.3 0.5 0.6 0.6 0.6 0.4 0.5 0.5 All other currencies 95.2 19.6 8.4 4.9 3.4 3.1 8.7 8.5 7.9 6.8 411 PAPUA NEW GUINEA (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 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 1 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 .. .. 278 82 123 -17 -103 -88 -28 -14 Net flows on debt 134 108 197 220 25 -127 29 94 -154 -135 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 -1 0 Cross-currency valuation .. .. 77 -157 91 74 -117 -118 116 156 Residual .. .. 3 19 7 36 -15 -63 11 -34 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.4 11.2 6.0 5.6 6.3 5.7 6.5 3.8 1.9 0.0 Maturity (years) 21.7 17.7 16.0 27.5 15.6 25.5 16.0 16.1 24.6 0.0 Grace period (years) 8.1 4.8 4.6 6.2 3.6 5.7 4.8 4.2 6.5 0.0 Grant element (%) 25.4 1.1 22.7 32.9 20.6 31.4 20.4 35.5 58.6 0.0 Official creditors Interest (%) 5.4 5.8 5.7 5.6 6.3 5.7 6.5 4.7 1.9 0.0 Maturity (years) 20.9 29.1 17.3 27.5 15.6 25.5 17.3 18.3 24.6 0.0 Grace period (years) 5.2 6.9 4.9 6.2 3.6 5.7 5.1 4.7 6.5 0.0 Grant element (%) 30.5 34.9 24.5 32.9 20.6 31.4 21.5 33.8 58.6 0.0 Private creditors Interest (%) 7.7 15.5 7.2 0.0 0.0 0.0 6.2 2.1 0.0 0.0 Maturity (years) 22.9 8.8 9.5 0.0 0.0 0.0 5.3 11.4 0.0 0.0 Grace period (years) 12.2 3.1 3.2 0.0 0.0 0.0 2.5 3.1 0.0 0.0 Grant element (%) 18.0 -25.1 13.4 0.0 0.0 0.0 10.9 39.0 0.0 0.0 Memorandum items Commitments 90 183 247 64 5 132 319 181 59 0 Official creditors 53 80 207 64 5 132 285 121 59 0 Private creditors 37 103 41 0 0 0 34 59 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 93 80 57 32 24 10 6 4 2 0 Principal 344 268 231 175 165 151 141 136 122 91 Interest 78 67 59 50 43 37 32 27 22 18 Official creditors Disbursements 86 76 57 32 24 10 6 4 2 0 Principal 124 109 98 96 100 101 99 101 87 85 Interest 39 39 38 36 33 30 26 23 20 18 Bilateral creditors Disbursements 9 4 1 1 0 0 0 0 0 0 Principal 66 50 34 33 32 32 31 32 24 24 Interest 16 13 12 11 10 9 8 7 6 5 Multilateral creditors Disbursements 77 72 56 32 24 10 6 4 2 0 Principal 58 59 64 63 68 69 68 69 62 61 Interest 23 26 26 25 23 21 19 16 14 12 Private creditors Disbursements 7 3 0 0 0 0 0 0 0 0 Principal 220 159 133 79 64 50 42 35 35 6 Interest 39 28 21 14 11 8 5 3 2 0 Commercial banks Disbursements 7 3 0 0 0 0 0 0 0 0 Principal 23 21 10 6 6 6 6 6 6 6 Interest 3 2 1 1 1 1 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 196 138 124 73 58 44 36 29 29 0 Interest 36 27 20 13 10 7 5 3 1 0 412 PARAGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 112 955 2,105 2,461 2,793 3,393 3,099 2,820 2,956 3,210 Long-term debt (LDOD) 112 780 1,732 1,946 2,125 2,641 2,519 2,358 2,470 2,658 Public and publicly guaranteed 112 630 1,713 1,464 1,591 2,083 2,069 1,998 2,053 2,224 Private nonguaranteed 0 151 19 482 534 558 450 360 417 434 Use of IMF credit 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 174 373 515 668 751 580 462 486 552 of which interest arrears on LDOD 0 0 115 10 9 10 11 13 19 24 Official creditors 0 0 29 6 6 4 5 6 10 15 Private creditors 0 0 86 4 4 6 6 7 9 9 Memo: principal arrears on LDOD 2 2 321 62 68 65 64 57 68 88 Official creditors 0 0 61 24 30 30 30 22 33 52 Private creditors 2 1 259 37 38 35 34 34 35 36 Memo: export credits 0 0 501 131 66 52 37 31 41 64 TOTAL DEBT FLOWS Disbursements 14 206 77 408 283 616 192 125 268 250 Long-term debt 14 206 77 408 283 616 192 125 268 250 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments 7 79 235 179 142 122 204 213 229 201 Long-term debt 7 79 235 179 142 122 204 213 229 201 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 7 156 -83 1 295 577 -185 -208 58 109 of which short-term debt 0 29 75 -228 154 82 -173 -120 18 61 Interest payments (INT) 3 66 90 113 118 127 148 146 108 109 Long-term debt 3 44 77 76 84 87 116 128 100 103 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 22 13 37 34 41 33 18 8 6 Net transfers on debt 4 90 -173 -112 178 450 -333 -354 -51 1 Total debt service paid (TDS) 11 145 325 292 260 249 353 360 337 310 Long-term debt 11 124 312 255 226 208 320 341 329 304 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 22 13 37 34 41 33 18 8 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 12 168 -74 487 505 622 132 16 67 157 Net flow of long-term debt (ex. IMF) 7 127 -158 229 141 495 -13 -88 39 48 Foreign direct investment (net) 4 32 77 236 342 95 119 84 9 91 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 1 10 7 23 22 33 26 20 19 18 Memo: technical coop. grants 7 21 40 51 43 52 56 46 48 48 official net resource flows 5 48 -142 167 93 98 113 20 2 36 private net resource flows 7 120 68 320 412 525 19 -4 65 121 NET TRANSFERS 9 70 -168 261 243 431 -68 -201 -71 5 Interest on long-term debt 3 44 77 76 84 87 116 128 100 103 Profit remittances on FDI 0 54 17 150 178 105 84 89 38 49 Memo: official net transfers 2 31 -199 108 27 31 44 -54 -59 -29 private net transfers 6 38 31 153 216 401 -111 -146 -12 34 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 585 4,621 5,381 9,645 8,604 7,759 7,722 6,864 5,531 6,038 Exports of goods, serv. & inc. (XGS) .. 693 2,631 4,402 4,583 3,248 3,244 2,841 2,719 3,125 Worker remit. & comp. of employees 0 52 34 299 286 268 265 264 202 222 Imports of goods & services (MGS) .. 973 2,284 5,092 4,778 3,441 3,560 3,134 2,663 3,034 International reserves (RES) 18 783 675 846 875 988 772 723 641 983 Current account balance .. -277 390 -650 -160 -165 -291 -266 73 146 4. DEBT INDICATORS EDT / XGS (%) .. 137.8 80.0 55.9 60.9 104.4 95.5 99.3 108.8 102.7 EDT / GNI (%) 19.2 20.7 39.1 25.5 32.5 43.7 40.1 41.1 53.5 53.2 TDS / XGS (%) .. 21.0 12.4 6.6 5.7 7.7 10.9 12.7 12.4 9.9 INT / XGS (%) .. 9.5 3.4 2.6 2.6 3.9 4.6 5.2 4.0 3.5 INT / GNI (%) 0.6 1.4 1.7 1.2 1.4 1.6 1.9 2.1 2.0 1.8 RES / EDT (%) 15.7 82.0 32.1 34.4 31.3 29.1 24.9 25.6 21.7 30.6 RES / MGS (months) .. 9.7 3.5 2.0 2.2 3.4 2.6 2.8 2.9 3.9 Short-term / EDT (%) 0.0 18.3 17.7 20.9 23.9 22.1 18.7 16.4 16.4 17.2 Concessional / EDT (%) 57.3 30.6 26.3 34.1 32.3 27.8 27.9 27.9 27.3 26.6 Multilateral / EDT (%) 40.1 20.2 34.8 36.0 35.2 32.0 36.8 40.2 39.1 40.3 413 PARAGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 112 780 1,732 1,946 2,125 2,641 2,519 2,358 2,470 2,658 Public and publicly guaranteed 112 630 1,713 1,464 1,591 2,083 2,069 1,998 2,053 2,224 Official creditors 83 409 1,182 1,372 1,510 1,618 1,612 1,540 1,599 1,755 Multilateral 45 193 732 885 982 1,085 1,141 1,133 1,157 1,294 Concessional 35 97 229 386 406 432 409 390 376 401 Bilateral 37 216 450 486 528 533 471 407 442 461 Concessional 29 195 325 452 496 511 455 398 432 453 Private creditors 30 221 531 92 80 465 457 459 454 469 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 105 263 47 44 439 435 431 429 437 Other private 27 116 268 45 36 26 23 28 26 32 Private nonguaranteed 0 151 19 482 534 558 450 360 417 434 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 151 19 482 534 558 450 360 417 434 Memo: IBRD 6 80 279 143 165 182 201 205 216 256 IDA 18 45 41 33 31 30 28 27 25 24 DISBURSEMENTS 14 206 77 408 283 616 192 125 268 250 Public and publicly guaranteed 14 158 77 259 164 568 192 125 97 153 Official creditors 7 55 50 248 164 168 192 117 97 135 Multilateral 4 40 31 167 131 153 166 92 61 127 Concessional 2 8 7 48 27 18 11 2 1 0 Bilateral 3 15 19 82 34 15 26 26 35 9 Concessional 3 11 18 73 34 15 26 24 35 9 Private creditors 7 103 27 10 0 400 0 8 0 18 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 33 2 0 0 400 0 0 0 11 Other private 5 69 25 10 0 0 0 8 0 7 Private nonguaranteed 0 48 0 149 119 48 0 0 171 97 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 48 0 149 119 48 0 0 171 97 Memo: IBRD 2 30 16 41 37 42 47 27 14 42 IDA 2 3 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 7 79 235 179 142 122 204 213 229 201 Public and publicly guaranteed 7 43 226 119 107 116 111 123 120 121 Official creditors 3 17 198 104 93 104 104 117 113 117 Multilateral 1 4 62 60 59 66 61 70 76 83 Concessional 0 1 6 8 9 10 15 19 19 18 Bilateral 2 13 137 44 34 37 43 47 37 34 Concessional 1 9 20 36 30 31 39 40 37 32 Private creditors 4 27 27 16 14 12 7 6 6 4 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 17 10 6 4 4 4 3 4 3 Other private 3 10 18 10 10 8 3 3 3 1 Private nonguaranteed 0 36 9 60 35 6 93 90 109 80 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 36 9 60 35 6 93 90 109 80 Memo: IBRD 0 1 40 26 23 23 19 14 15 19 IDA 0 0 1 1 1 1 1 1 1 2 NET FLOWS ON DEBT 7 127 -158 229 141 495 -13 -88 39 48 Public and publicly guaranteed 7 114 -149 139 57 453 80 2 -23 31 Official creditors 4 38 -149 145 71 64 87 0 -16 18 Multilateral 3 36 -31 107 71 87 105 22 -14 44 Concessional 2 6 1 39 18 8 -4 -17 -18 -18 Bilateral 1 2 -118 38 0 -22 -18 -22 -2 -26 Concessional 2 2 -3 37 4 -16 -13 -16 -1 -23 Private creditors 3 76 0 -6 -14 388 -7 2 -6 13 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 16 -7 -6 -4 396 -4 -3 -3 8 Other private 2 60 8 0 -10 -8 -3 5 -3 6 Private nonguaranteed 0 13 -9 89 84 42 -93 -90 62 17 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 13 -9 89 84 42 -93 -90 62 17 Memo: IBRD 1 29 -24 15 15 19 28 13 -2 23 IDA 2 3 -1 -1 -1 -1 -1 -1 -1 -2 414 PARAGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 3 44 77 76 84 87 116 128 100 103 Public and publicly guaranteed 3 35 77 63 70 70 100 105 78 77 Official creditors 3 17 57 60 66 67 70 74 61 65 Multilateral 1 10 47 40 47 50 52 58 52 52 Concessional 1 1 4 6 8 9 8 9 7 7 Bilateral 1 7 10 19 19 17 18 17 9 13 Concessional 1 5 10 17 17 14 17 16 9 13 Private creditors 1 18 20 3 4 3 30 31 17 12 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 12 2 2 2 2 29 30 16 11 Other private 1 7 18 1 2 1 1 1 1 1 Private nonguaranteed 0 9 0 13 14 17 16 23 22 26 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 9 0 13 14 17 16 23 22 26 Memo: IBRD 0 6 25 10 11 9 11 11 10 12 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 4 82 -235 153 57 408 -128 -216 -61 -54 Public and publicly guaranteed 4 79 -226 76 -12 383 -19 -103 -100 -46 Official creditors 1 21 -206 85 5 -2 18 -74 -77 -47 Multilateral 1 26 -78 66 24 37 53 -36 -67 -8 Concessional 1 5 -2 33 10 0 -12 -26 -25 -25 Bilateral 0 -5 -128 19 -20 -39 -36 -38 -11 -39 Concessional 1 -4 -13 20 -13 -30 -30 -32 -10 -36 Private creditors 3 57 -20 -9 -17 386 -37 -29 -23 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 2 4 -10 -8 -6 395 -33 -34 -20 -3 Other private 1 53 -10 -1 -12 -9 -4 5 -3 5 Private nonguaranteed 0 4 -9 77 70 25 -109 -113 40 -9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 4 -9 77 70 25 -109 -113 40 -9 Memo: IBRD 1 23 -49 5 4 10 17 2 -12 11 IDA 2 2 -1 -2 -2 -2 -2 -2 -2 -2 DEBT SERVICE (LTDS) 11 124 312 255 226 208 320 341 329 304 Public and publicly guaranteed 11 79 303 182 177 185 211 228 197 198 Official creditors 6 34 256 163 159 171 174 191 174 182 Multilateral 2 14 109 100 106 117 113 128 128 135 Concessional 1 3 9 15 17 18 23 28 26 25 Bilateral 4 20 147 63 53 54 61 64 46 47 Concessional 2 15 30 53 47 45 56 56 46 44 Private creditors 5 45 47 19 17 14 37 37 23 16 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 29 12 8 6 5 33 34 20 14 Other private 4 16 35 11 12 9 4 3 3 2 Private nonguaranteed 0 45 9 72 49 23 109 113 131 106 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 45 9 72 49 23 109 113 131 106 Memo: IBRD 0 7 65 36 33 32 29 25 26 31 IDA 0 1 1 2 2 2 2 2 2 2 UNDISBURSED DEBT 46 567 563 1,009 913 762 662 673 585 550 Official creditors 41 423 455 1,009 913 762 662 652 565 547 Private creditors 5 144 107 0 0 0 0 20 20 3 Memorandum items Concessional LDOD 64 292 553 838 902 943 864 788 808 853 Variable rate LDOD 0 213 287 715 860 1,387 1,351 1,312 1,434 1,585 Public sector LDOD 110 628 1,713 1,464 1,591 2,083 2,069 1,998 2,053 2,224 Private sector LDOD 2 152 19 482 534 558 450 360 417 434 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 3.1 3.4 3.4 Deutsche mark 11.4 9.4 11.4 6.2 5.4 3.2 2.6 .. .. .. French franc 0.0 0.3 10.5 1.8 1.6 0.9 0.8 .. .. .. Japanese yen 0.0 5.0 15.6 19.6 20.2 16.7 15.0 13.5 14.0 13.7 Pound sterling 0.2 0.6 2.0 0.3 0.2 0.1 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 41.8 44.5 57.1 60.2 62.7 63.2 64.2 Multiple currency 19.6 22.9 37.8 28.3 26.2 20.8 20.2 19.9 18.6 18.0 Special drawing rights 0.0 0.0 0.8 1.3 1.1 0.7 0.8 0.6 0.6 0.6 All other currencies 2.2 5.6 4.2 0.7 0.6 0.3 0.3 0.0 0.0 0.0 415 PARAGUAY (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 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 -105 332 600 -293 -279 136 254 Net flows on debt 7 156 -83 1 295 577 -185 -208 58 109 Net change in interest arrears .. .. 37 0 -1 1 1 2 6 5 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 -119 2 -8 -97 -70 74 99 Residual .. .. -670 13 35 30 -13 -3 -1 41 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 5.7 7.0 3.5 6.8 7.0 6.7 6.4 4.8 2.4 2.3 Maturity (years) 25.0 26.6 34.4 31.0 91.0 20.0 21.8 19.5 18.3 18.0 Grace period (years) 5.5 6.6 10.1 4.4 2.6 5.0 3.0 5.6 2.6 4.7 Grant element (%) 33.1 23.5 53.9 19.2 19.2 20.9 22.1 34.1 44.6 48.5 Official creditors Interest (%) 4.9 5.4 3.5 6.8 7.0 7.0 6.4 4.7 2.4 2.3 Maturity (years) 28.6 27.9 34.4 32.0 91.0 20.0 21.8 20.4 18.3 18.0 Grace period (years) 6.3 7.1 10.1 4.6 2.6 4.5 3.0 5.9 2.6 4.7 Grant element (%) 39.1 36.9 53.9 19.7 19.2 18.7 22.1 35.6 44.6 48.5 Private creditors Interest (%) 10.1 13.0 0.0 7.1 0.0 6.7 0.0 5.7 0.0 0.0 Maturity (years) 5.3 21.8 0.0 6.0 0.0 20.0 0.0 8.8 0.0 0.0 Grace period (years) 1.4 4.6 0.0 0.5 0.0 5.0 0.0 2.3 0.0 0.0 Grant element (%) -0.2 -26.3 0.0 7.0 0.0 20.9 0.0 16.9 0.0 0.0 Memorandum items Commitments 14 99 117 252 61 405 125 141 19 149 Official creditors 12 78 117 242 61 5 125 129 19 149 Private creditors 2 21 0 10 0 400 0 11 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 174 136 97 64 40 18 10 4 3 2 Principal 312 285 278 252 237 212 202 185 171 130 Interest 111 100 90 79 69 59 50 42 35 28 Official creditors Disbursements 172 136 97 64 40 18 10 4 3 2 Principal 175 165 168 181 175 158 154 142 128 105 Interest 79 75 70 63 56 49 42 35 29 24 Bilateral creditors Disbursements 35 20 11 5 2 2 0 0 0 0 Principal 50 48 41 42 35 34 31 25 25 18 Interest 14 13 12 11 9 8 7 6 5 4 Multilateral creditors Disbursements 137 116 85 58 39 17 10 4 3 2 Principal 125 117 127 139 140 124 123 117 103 87 Interest 65 62 58 53 47 41 35 29 24 20 Private creditors Disbursements 2 1 0 0 0 0 0 0 0 0 Principal 137 120 110 71 62 54 48 43 43 26 Interest 32 25 20 16 13 10 8 7 5 4 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 19 28 28 28 28 28 27 26 26 26 Interest 10 9 8 8 7 6 6 5 4 4 Other private Disbursements 2 1 0 0 0 0 0 0 0 0 Principal 118 92 82 43 35 26 22 17 17 0 Interest 22 16 12 8 6 4 3 2 1 0 416 PERU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 3,211 9,386 20,064 29,687 30,542 29,217 28,710 27,612 28,106 29,857 Long-term debt (LDOD) 2,655 6,828 13,959 22,120 23,356 23,882 24,193 24,179 25,537 27,193 Public and publicly guaranteed 856 6,218 13,629 19,225 19,320 19,503 19,255 18,923 20,419 22,072 Private nonguaranteed 1,799 610 330 2,896 4,037 4,378 4,938 5,256 5,118 5,121 Use of IMF credit 10 474 755 1,011 905 735 558 387 236 139 Short-term debt 546 2,084 5,350 6,556 6,281 4,601 3,959 3,047 2,333 2,525 of which interest arrears on LDOD 0 0 3,733 84 59 49 45 55 59 0 Official creditors 0 0 1,386 44 19 20 16 19 19 0 Private creditors 0 0 2,347 39 40 29 29 35 39 0 Memo: principal arrears on LDOD 0 0 8,345 94 95 70 68 80 62 0 Official creditors 0 0 3,215 65 63 47 45 54 36 0 Private creditors 0 0 5,130 29 33 24 23 26 26 0 Memo: export credits 0 0 4,632 5,066 3,294 3,108 3,149 3,032 3,710 3,723 TOTAL DEBT FLOWS Disbursements 405 1,452 289 3,342 1,657 1,451 2,065 1,721 3,004 2,243 Long-term debt 387 1,307 289 3,121 1,657 1,451 2,065 1,721 3,004 2,243 IMF purchases 18 145 0 221 0 0 0 0 0 0 Principal repayments 360 1,187 229 2,053 791 1,075 1,129 834 2,155 1,179 Long-term debt 333 1,019 166 1,980 646 929 988 680 1,982 1,067 IMF repurchases 27 168 63 74 145 146 141 153 173 112 Net flows on debt 45 775 126 1,522 616 -1,294 298 -34 131 1,314 of which short-term debt 0 510 66 233 -250 -1,670 -638 -922 -718 251 Interest payments (INT) 162 964 247 1,406 1,381 1,467 1,431 1,356 1,224 1,368 Long-term debt 162 670 91 982 975 1,149 1,171 1,153 1,146 1,292 IMF charges 0 35 74 47 45 33 33 23 10 4 Short-term debt 0 259 82 376 362 285 227 180 68 72 Net transfers on debt -117 -189 -121 116 -765 -2,760 -1,133 -1,390 -1,093 -54 Total debt service paid (TDS) 522 2,151 476 3,459 2,172 2,542 2,560 2,189 3,379 2,547 Long-term debt 495 1,689 257 2,962 1,620 2,078 2,159 1,833 3,128 2,360 IMF repurchases and charges 27 202 137 121 190 179 174 176 183 116 Short-term debt (interest only) 0 259 82 376 362 285 227 180 68 72 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 2 347 344 3,662 2,549 2,505 2,169 2,430 3,333 2,735 Net flow of long-term debt (ex. IMF) 54 289 123 1,141 1,011 523 1,078 1,041 1,022 1,176 Foreign direct investment (net) -70 27 41 2,139 1,644 1,940 810 1,144 2,156 1,377 Portfolio equity flows 0 0 0 156 -346 -107 123 43 -9 1 Grants (excluding technical coop.) 18 31 180 225 240 149 159 202 164 182 Memo: technical coop. grants 13 64 127 142 181 210 154 223 236 291 official net resource flows 54 414 285 630 304 632 787 950 438 174 private net resource flows -52 -67 59 3,031 2,245 1,873 1,382 1,481 2,896 2,561 NET TRANSFERS -160 -580 238 1,755 1,353 1,337 654 1,147 1,708 436 Interest on long-term debt 162 670 91 982 975 1,149 1,171 1,153 1,146 1,292 Profit remittances on FDI 0 256 15 925 222 19 344 131 479 1,007 Memo: official net transfers 37 262 234 49 -444 -267 -127 51 -408 -639 private net transfers -197 -842 4 1,705 1,797 1,604 782 1,096 2,117 1,075 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 7,119 19,700 25,509 57,852 55,342 50,016 51,636 52,516 55,000 58,496 Exports of goods, serv. & inc. (XGS) .. 4,832 4,402 9,733 8,964 9,007 10,013 9,936 10,309 11,806 Worker remit. & comp. of employees 0 0 87 636 647 670 718 753 705 860 Imports of goods & services (MGS) .. 5,080 6,015 13,384 12,616 10,766 11,853 11,384 11,774 13,227 International reserves (RES) 339 2,804 1,891 11,306 9,882 9,050 8,676 8,980 9,721 10,242 Current account balance .. -101 -1,419 -3,367 -3,321 -1,464 -1,559 -1,159 -1,127 -1,061 4. DEBT INDICATORS EDT / XGS (%) .. 194.2 455.8 305.0 340.7 324.4 286.7 277.9 272.6 252.9 EDT / GNI (%) 45.1 47.6 78.7 51.3 55.2 58.4 55.6 52.6 51.1 51.0 TDS / XGS (%) .. 44.5 10.8 35.5 24.2 28.2 25.6 22.0 32.8 21.6 INT / XGS (%) .. 19.9 5.6 14.4 15.4 16.3 14.3 13.6 11.9 11.6 INT / GNI (%) 2.3 4.9 1.0 2.4 2.5 2.9 2.8 2.6 2.2 2.3 RES / EDT (%) 10.5 29.9 9.4 38.1 32.4 31.0 30.2 32.5 34.6 34.3 RES / MGS (months) .. 6.6 3.8 10.1 9.4 10.1 8.8 9.5 9.9 9.3 Short-term / EDT (%) 17.0 22.2 26.7 22.1 20.6 15.7 13.8 11.0 8.3 8.5 Concessional / EDT (%) 3.5 14.4 9.3 17.6 12.0 13.2 13.7 13.3 14.1 15.4 Multilateral / EDT (%) 4.6 5.5 11.0 14.3 15.2 18.2 19.3 22.8 24.3 24.1 417 PERU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 2,655 6,828 13,959 22,120 23,356 23,882 24,193 24,179 25,537 27,193 Public and publicly guaranteed 856 6,218 13,629 19,225 19,320 19,503 19,255 18,923 20,419 22,072 Official creditors 373 3,123 6,594 14,567 14,709 14,431 14,414 14,772 15,598 16,071 Multilateral 148 513 2,199 4,240 4,644 5,306 5,533 6,291 6,830 7,199 Concessional 0 36 185 124 112 129 92 83 78 315 Bilateral 225 2,609 4,395 10,328 10,065 9,125 8,881 8,481 8,767 8,871 Concessional 112 1,318 1,674 5,099 3,566 3,720 3,854 3,595 3,879 4,285 Private creditors 483 3,095 7,035 4,657 4,610 5,072 4,841 4,151 4,821 6,001 Bonds 22 2 1 4,130 4,130 3,727 3,727 3,727 4,424 5,630 Commercial banks 148 1,694 3,159 98 74 224 110 105 98 90 Other private 314 1,399 3,876 429 406 1,120 1,004 318 299 281 Private nonguaranteed 1,799 610 330 2,896 4,037 4,378 4,938 5,256 5,118 5,121 Bonds 0 0 0 0 150 150 150 150 150 150 Commercial banks and other 1,799 610 330 2,896 3,887 4,228 4,788 5,106 4,968 4,971 Memo: IBRD 125 359 1,188 1,920 2,128 2,417 2,590 2,625 2,609 2,789 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 387 1,307 289 3,121 1,657 1,451 2,065 1,721 3,004 2,243 Public and publicly guaranteed 148 1,247 289 1,517 639 1,090 1,488 1,387 2,931 2,188 Official creditors 59 664 187 1,460 639 1,066 1,454 1,387 1,008 938 Multilateral 18 209 38 1,126 560 887 813 1,110 808 697 Concessional 0 10 10 3 3 6 6 6 4 224 Bilateral 41 454 149 334 79 178 640 277 199 241 Concessional 8 232 112 214 74 162 558 173 169 221 Private creditors 88 584 103 58 0 25 35 0 1,923 1,250 Bonds 0 0 0 0 0 0 0 0 1,923 1,250 Commercial banks 3 248 69 0 0 21 34 0 0 0 Other private 85 336 34 58 0 3 1 0 0 0 Private nonguaranteed 240 60 0 1,604 1,018 361 577 334 74 55 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 240 60 0 1,604 1,018 361 577 334 74 55 Memo: IBRD 10 140 0 490 271 380 266 149 146 344 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 333 1,019 166 1,980 646 929 988 680 1,982 1,067 Public and publicly guaranteed 100 959 112 1,894 619 909 970 664 1,965 1,015 Official creditors 23 281 81 1,054 574 583 826 640 734 946 Multilateral 11 24 24 230 227 245 495 296 355 442 Concessional 0 0 3 16 16 16 13 14 11 15 Bilateral 12 257 57 825 348 338 331 345 379 504 Concessional 3 48 5 89 96 153 99 151 190 237 Private creditors 77 678 31 839 45 326 144 24 1,231 69 Bonds 7 0 0 742 0 255 0 0 1,204 44 Commercial banks 25 445 9 24 24 50 130 5 7 7 Other private 46 233 22 73 21 21 15 19 20 18 Private nonguaranteed 233 60 54 86 27 19 17 16 17 52 Bonds 0 0 0 60 0 0 0 0 0 0 Commercial banks and other 233 60 54 26 27 19 17 16 17 52 Memo: IBRD 8 15 0 65 64 89 93 114 163 163 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 54 289 123 1,141 1,011 523 1,078 1,041 1,022 1,176 Public and publicly guaranteed 48 289 177 -376 20 181 518 723 966 1,173 Official creditors 36 383 106 406 65 483 628 747 273 -8 Multilateral 7 185 14 896 333 642 318 815 453 255 Concessional 0 10 7 -13 -13 -10 -7 -8 -7 208 Bilateral 29 198 92 -491 -269 -160 310 -68 -180 -263 Concessional 5 184 107 125 -22 9 459 22 -21 -16 Private creditors 11 -94 72 -782 -44 -302 -110 -24 692 1,181 Bonds -7 0 0 -742 0 -255 0 0 719 1,206 Commercial banks -22 -197 60 -24 -24 -29 -96 -5 -7 -7 Other private 40 103 12 -15 -20 -17 -14 -19 -20 -18 Private nonguaranteed 7 0 -54 1,518 991 342 560 318 57 3 Bonds 0 0 0 -60 0 0 0 0 0 0 Commercial banks and other 7 0 -54 1,578 991 342 560 318 57 3 Memo: IBRD 2 125 0 425 207 291 173 35 -17 180 IDA 0 0 0 0 0 0 0 0 0 0 418 PERU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 162 670 91 982 975 1,149 1,171 1,153 1,146 1,292 Public and publicly guaranteed 43 547 66 927 923 1,085 1,102 1,075 1,076 1,150 Official creditors 17 151 51 581 748 898 915 899 846 813 Multilateral 8 33 27 270 285 334 383 408 372 342 Concessional 0 1 3 4 3 3 3 3 2 6 Bilateral 9 118 24 311 463 564 532 491 474 471 Concessional 3 27 7 75 163 140 155 141 138 140 Private creditors 26 395 15 346 175 186 187 176 230 337 Bonds 1 0 0 318 159 171 179 160 196 305 Commercial banks 12 273 8 10 8 7 5 10 10 9 Other private 13 122 7 18 7 9 4 5 25 24 Private nonguaranteed 119 124 25 55 52 65 69 78 70 143 Bonds 0 0 0 4 0 11 11 11 11 11 Commercial banks and other 119 124 25 51 52 53 58 67 59 131 Memo: IBRD 7 24 0 117 120 155 189 186 141 115 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -108 -382 32 159 37 -627 -94 -112 -124 -117 Public and publicly guaranteed 4 -258 111 -1,303 -902 -904 -584 -352 -110 23 Official creditors 20 231 54 -175 -684 -416 -287 -151 -573 -821 Multilateral -1 152 -13 626 48 308 -65 407 81 -87 Concessional 0 9 4 -17 -17 -13 -10 -10 -9 202 Bilateral 21 80 68 -801 -732 -724 -222 -559 -653 -734 Concessional 2 157 100 49 -184 -131 304 -120 -159 -157 Private creditors -15 -489 57 -1,128 -219 -488 -297 -200 462 843 Bonds -8 0 0 -1,060 -159 -426 -179 -160 524 901 Commercial banks -34 -470 52 -34 -32 -36 -101 -15 -17 -16 Other private 26 -19 5 -33 -28 -27 -17 -24 -45 -41 Private nonguaranteed -112 -124 -79 1,462 939 277 490 240 -13 -139 Bonds 0 0 0 -64 0 -11 -11 -11 -11 -11 Commercial banks and other -112 -124 -79 1,527 939 288 502 251 -2 -128 Memo: IBRD -5 101 0 308 87 136 -16 -151 -158 65 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 495 1,689 257 2,962 1,620 2,078 2,159 1,833 3,128 2,360 Public and publicly guaranteed 144 1,506 178 2,820 1,542 1,994 2,072 1,739 3,041 2,165 Official creditors 40 432 132 1,635 1,322 1,481 1,740 1,539 1,580 1,759 Multilateral 19 58 51 500 512 579 878 703 728 784 Concessional 0 1 6 20 20 19 16 17 14 22 Bilateral 21 375 81 1,135 811 902 862 836 852 975 Concessional 5 75 13 164 258 293 254 292 328 377 Private creditors 104 1,073 46 1,185 219 513 332 200 1,461 407 Bonds 8 1 0 1,060 159 426 179 160 1,399 349 Commercial banks 37 718 17 34 32 57 135 15 17 16 Other private 59 355 29 90 28 30 18 24 45 41 Private nonguaranteed 352 184 79 141 79 84 87 94 87 194 Bonds 0 0 0 64 0 11 11 11 11 11 Commercial banks and other 352 184 79 77 79 73 75 83 76 183 Memo: IBRD 15 38 0 182 184 244 281 300 304 279 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 238 2,397 1,509 2,766 2,235 4,020 3,294 2,639 2,658 2,626 Official creditors 166 1,126 863 2,765 2,235 4,020 3,294 2,639 2,658 2,626 Private creditors 72 1,272 646 1 0 0 0 0 0 0 Memorandum items Concessional LDOD 112 1,353 1,859 5,223 3,678 3,849 3,946 3,678 3,958 4,600 Variable rate LDOD 1,799 2,130 4,626 13,370 12,618 13,915 15,054 15,469 14,679 15,057 Public sector LDOD 840 6,200 13,584 19,225 17,921 18,163 17,984 17,716 19,281 21,008 Private sector LDOD 1,816 628 376 2,896 5,435 5,719 6,209 6,463 6,256 6,185 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 5.9 6.3 6.4 Deutsche mark 13.9 6.5 5.0 3.2 2.1 1.7 1.5 .. .. .. French franc 1.1 4.2 9.3 8.1 3.1 2.6 2.3 .. .. .. Japanese yen 0.0 10.9 6.3 11.6 10.5 12.5 13.9 12.8 13.2 14.2 Pound sterling 0.9 2.0 0.9 1.3 0.6 0.5 0.4 0.4 0.4 0.3 Swiss franc 0.1 1.4 1.5 0.6 0.6 0.5 0.5 0.4 0.4 0.3 U.S.dollars 59.0 44.1 48.0 54.2 74.0 73.8 73.6 75.4 75.0 74.3 Multiple currency 17.0 7.5 15.2 12.1 5.2 5.4 5.0 4.7 4.3 4.0 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 8.7 3.7 3.1 2.7 0.3 0.3 0.3 419 PERU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 806 4,682 0 1 0 0 0 Debt stock rescheduled .. .. 0 0 4,415 6 0 0 0 0 Principal rescheduled .. .. 0 329 30 0 0 0 0 0 Official .. .. 0 235 27 0 0 0 0 0 Private .. .. 0 94 3 0 0 0 0 0 Interest rescheduled .. .. 0 477 243 0 0 0 0 0 Official .. .. 0 393 242 0 0 0 0 0 Private .. .. 0 84 1 0 0 0 0 0 Debt forgiven .. .. 0 3 116 26 0 0 8 0 Memo: interest forgiven .. .. 0 1 1 1 0 0 1 0 Debt stock reduction .. .. 0 0 0 403 0 0 1,204 0 of which debt buyback .. .. 0 0 0 255 0 0 1,204 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 1,482 699 855 -1,325 -508 -1,097 494 1,751 Net flows on debt 45 775 126 1,522 616 -1,294 298 -34 131 1,314 Net change in interest arrears .. .. 460 -141 -24 -10 -4 9 4 -59 Interest capitalized .. .. 0 477 243 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -3 -116 -174 0 0 -8 0 Cross-currency valuation .. .. 642 -1,199 318 -368 -517 -276 603 656 Residual .. .. 254 42 -181 521 -285 -797 -236 -161 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.4 9.4 6.7 5.7 6.7 3.8 5.8 6.5 7.9 6.0 Maturity (years) 13.3 12.7 8.6 19.6 20.4 17.4 22.1 16.6 11.8 17.7 Grace period (years) 4.3 3.5 2.1 5.4 4.5 4.9 5.0 4.1 7.7 12.8 Grant element (%) 11.8 5.6 13.2 28.5 20.8 38.1 30.8 20.8 11.8 24.6 Official creditors Interest (%) 7.2 7.5 7.1 5.7 6.7 3.8 5.8 6.5 5.2 2.0 Maturity (years) 13.8 15.5 9.1 20.2 20.4 17.4 22.1 16.6 18.1 16.0 Grace period (years) 4.5 4.3 2.4 5.5 4.5 4.9 5.0 4.1 4.6 5.5 Grant element (%) 12.6 18.8 14.1 29.2 20.8 38.1 30.9 20.8 29.6 48.9 Private creditors Interest (%) 8.7 10.7 5.5 6.0 0.0 8.3 9.0 0.0 9.1 9.4 Maturity (years) 9.2 10.9 6.7 4.0 0.0 5.0 5.0 0.0 9.0 19.2 Grace period (years) 2.0 3.0 1.3 1.0 0.0 0.1 0.1 0.0 9.0 19.2 Grant element (%) 4.8 -3.1 10.5 8.0 0.0 3.5 1.7 0.0 3.7 3.4 Memorandum items Commitments 125 1,613 179 1,539 70 2,687 1,263 1,245 2,790 2,334 Official creditors 112 643 137 1,489 70 2,686 1,259 1,245 867 1,084 Private creditors 13 971 43 50 0 1 4 0 1,923 1,250 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 789 703 446 294 189 116 61 14 6 5 Principal 2,690 2,281 2,253 2,038 2,643 1,970 1,826 1,834 3,321 1,642 Interest 1,575 1,461 1,362 1,299 1,241 1,080 976 878 707 529 Official creditors Disbursements 789 703 446 294 189 116 61 14 6 5 Principal 1,231 1,224 1,297 1,407 1,461 1,526 1,420 1,433 1,486 1,422 Interest 795 752 706 651 587 518 445 374 301 228 Bilateral creditors Disbursements 524 403 234 129 67 33 11 0 0 0 Principal 644 635 686 755 792 844 747 781 822 859 Interest 464 443 418 387 351 311 268 228 185 138 Multilateral creditors Disbursements 265 300 212 165 122 82 50 14 6 5 Principal 587 589 610 651 669 683 673 653 665 563 Interest 330 310 288 263 236 207 177 146 117 90 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,459 1,057 956 632 1,182 444 405 401 1,835 219 Interest 780 708 656 648 654 562 531 504 406 300 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 11 8 7 7 7 7 7 7 7 2 Interest 8 7 7 6 5 5 4 3 3 2 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,448 1,049 949 624 1,175 437 398 393 1,828 218 Interest 772 701 650 642 649 558 527 501 403 298 420 PHILIPPINES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2,196 17,417 30,580 50,746 53,529 58,063 60,850 58,498 60,090 62,663 Long-term debt (LDOD) 1,544 8,817 25,241 38,096 44,775 50,495 52,871 50,547 52,845 55,287 Public and publicly guaranteed 625 6,363 24,040 26,434 28,923 34,819 33,829 29,456 32,503 36,221 Private nonguaranteed 919 2,454 1,201 11,662 15,853 15,677 19,042 21,090 20,342 19,066 Use of IMF credit 69 1,044 912 855 1,568 1,822 2,032 1,952 1,686 1,197 Short-term debt 583 7,556 4,427 11,794 7,185 5,745 5,948 6,000 5,559 6,179 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 1 1 1 1 1 1 Official creditors 0 0 13 0 0 0 0 0 0 0 Private creditors 0 0 169 0 1 1 1 1 1 1 Memo: export credits 0 0 4,366 9,751 4,105 3,868 3,883 3,582 3,389 2,845 TOTAL DEBT FLOWS Disbursements 446 2,300 2,516 6,080 3,988 8,580 6,107 7,609 6,755 7,355 Long-term debt 418 1,854 2,516 5,379 3,257 8,234 5,794 7,609 6,755 7,355 IMF purchases 28 446 0 700 730 346 313 0 0 0 Principal repayments 264 686 1,818 2,341 2,443 4,005 4,058 5,955 7,237 7,401 Long-term debt 261 541 1,473 2,125 2,365 3,951 4,050 5,948 6,832 6,794 IMF repurchases 3 145 345 216 79 54 8 8 405 608 Net flows on debt 182 3,855 1,123 7,564 -3,065 3,135 2,252 1,705 -924 574 of which short-term debt 0 2,241 425 3,825 -4,609 -1,440 203 52 -441 620 Interest payments (INT) 44 1,496 1,772 2,215 2,300 2,438 3,006 3,412 3,147 2,884 Long-term debt 44 579 1,573 1,716 1,964 2,050 2,470 3,041 2,928 2,724 IMF charges 0 42 99 24 49 65 94 92 54 29 Short-term debt 0 875 100 474 287 323 442 279 165 132 Net transfers on debt 138 2,358 -649 5,349 -5,364 697 -754 -1,707 -4,071 -2,311 Total debt service paid (TDS) 308 2,182 3,590 4,555 4,743 6,443 7,064 9,367 10,385 10,286 Long-term debt 305 1,120 3,046 3,841 4,328 6,001 6,521 8,989 9,761 9,518 IMF repurchases and charges 3 187 444 240 127 119 102 100 459 636 Short-term debt (interest only) 0 875 100 474 287 323 442 279 165 132 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 155 1,266 1,935 4,272 3,642 7,594 3,064 3,213 2,297 1,511 Net flow of long-term debt (ex. IMF) 157 1,313 1,043 3,255 893 4,283 1,744 1,661 -77 561 Foreign direct investment (net) -25 -106 530 1,222 2,287 1,725 1,345 989 1,792 319 Portfolio equity flows 0 0 0 -406 264 1,410 -183 383 404 457 Grants (excluding technical coop.) 23 59 362 202 198 176 158 180 178 174 Memo: technical coop. grants 16 64 243 246 230 256 226 207 195 252 official net resource flows 83 426 1,296 304 220 87 159 -67 147 162 private net resource flows 72 840 639 3,969 3,422 7,507 2,905 3,280 2,150 1,350 NET TRANSFERS 111 489 51 2,106 1,264 4,915 415 -446 -1,541 -1,825 Interest on long-term debt 44 579 1,573 1,716 1,964 2,050 2,470 3,041 2,928 2,724 Profit remittances on FDI 0 198 311 450 414 629 179 618 909 612 Memo: official net transfers 72 286 547 -646 -635 -807 -683 -798 -548 -488 private net transfers 39 203 -496 2,752 1,899 5,722 1,098 351 -993 -1,337 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 6,576 32,436 44,092 85,847 68,524 80,231 79,129 75,566 83,138 86,607 Exports of goods, serv. & inc. (XGS) .. 8,202 13,290 49,120 43,617 47,198 49,196 41,667 45,570 46,463 Worker remit. & comp. of employees 0 626 1,465 6,799 5,130 6,918 6,212 6,164 7,381 7,880 Imports of goods & services (MGS) .. 10,348 16,437 53,494 42,302 40,389 43,250 40,667 41,498 43,492 International reserves (RES) 255 3,978 2,036 8,714 10,789 15,029 15,030 15,636 16,127 16,886 Current account balance .. -1,904 -2,695 -4,351 1,546 7,219 6,258 1,323 4,383 3,347 4. DEBT INDICATORS EDT / XGS (%) .. 212.4 230.1 103.3 122.7 123.0 123.7 140.4 131.9 134.9 EDT / GNI (%) 33.4 53.7 69.4 59.1 78.1 72.4 76.9 77.4 72.3 72.4 TDS / XGS (%) .. 26.6 27.0 9.3 10.9 13.7 14.4 22.5 22.8 22.1 INT / XGS (%) .. 18.2 13.3 4.5 5.3 5.2 6.1 8.2 6.9 6.2 INT / GNI (%) 0.7 4.6 4.0 2.6 3.4 3.0 3.8 4.5 3.8 3.3 RES / EDT (%) 11.6 22.8 6.7 17.2 20.2 25.9 24.7 26.7 26.8 26.9 RES / MGS (months) .. 4.6 1.5 2.0 3.1 4.5 4.2 4.6 4.7 4.7 Short-term / EDT (%) 26.5 43.4 14.5 23.2 13.4 9.9 9.8 10.3 9.3 9.9 Concessional / EDT (%) 3.1 5.5 20.0 19.9 21.6 23.2 20.7 19.2 20.8 22.6 Multilateral / EDT (%) 5.5 7.5 20.5 14.5 14.9 13.5 11.8 11.5 11.6 11.6 421 PHILIPPINES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1,544 8,817 25,241 38,096 44,775 50,495 52,871 50,547 52,845 55,287 Public and publicly guaranteed 625 6,363 24,040 26,434 28,923 34,819 33,829 29,456 32,503 36,221 Official creditors 272 2,636 15,302 18,832 20,607 21,817 19,975 17,889 19,331 21,152 Multilateral 120 1,310 6,273 7,341 7,994 7,833 7,207 6,705 6,966 7,277 Concessional 0 60 457 967 1,068 1,128 1,074 1,020 1,102 1,197 Bilateral 152 1,326 9,029 11,491 12,613 13,985 12,768 11,184 12,365 13,876 Concessional 68 894 5,650 9,130 10,472 12,369 11,543 10,184 11,413 12,971 Private creditors 353 3,727 8,739 7,603 8,315 13,001 13,854 11,567 13,171 15,068 Bonds 11 888 825 6,228 6,357 10,008 10,466 9,519 10,735 12,588 Commercial banks 267 2,256 6,660 799 1,501 1,994 2,482 1,203 1,438 1,339 Other private 75 583 1,253 576 457 999 906 845 998 1,141 Private nonguaranteed 919 2,454 1,201 11,662 15,853 15,677 19,042 21,090 20,342 19,066 Bonds 0 0 0 5,274 5,366 6,137 5,690 4,328 3,920 4,154 Commercial banks and other 919 2,454 1,201 6,388 10,487 9,540 13,352 16,762 16,422 14,912 Memo: IBRD 119 926 3,943 4,179 4,311 4,040 3,627 3,250 3,325 3,445 IDA 0 34 101 195 205 206 207 204 208 215 DISBURSEMENTS 418 1,854 2,516 5,379 3,257 8,234 5,794 7,609 6,755 7,355 Public and publicly guaranteed 142 1,382 2,225 3,203 2,748 7,439 5,275 3,771 4,620 5,164 Official creditors 74 461 1,373 1,833 1,451 1,613 1,575 1,052 1,405 1,587 Multilateral 17 321 854 631 654 315 386 460 405 455 Concessional 0 9 121 72 39 36 43 55 20 15 Bilateral 57 140 519 1,202 797 1,298 1,189 591 1,001 1,132 Concessional 15 102 462 1,181 785 1,282 1,127 576 976 1,095 Private creditors 68 920 852 1,370 1,297 5,826 3,700 2,720 3,215 3,577 Bonds 0 96 575 866 500 4,550 2,630 1,643 2,811 2,524 Commercial banks 51 657 167 453 772 746 996 997 303 877 Other private 16 167 110 52 25 531 74 80 101 176 Private nonguaranteed 276 472 291 2,176 510 795 519 3,837 2,134 2,191 Bonds 0 0 0 1,793 90 795 5 587 698 585 Commercial banks and other 276 472 291 383 420 0 514 3,250 1,436 1,606 Memo: IBRD 16 229 506 295 292 157 152 114 178 201 IDA 0 2 0 9 9 6 10 6 0 0 PRINCIPAL REPAYMENTS 261 541 1,473 2,125 2,365 3,951 4,050 5,948 6,832 6,794 Public and publicly guaranteed 75 221 1,411 1,884 2,115 3,171 2,517 3,514 3,667 3,835 Official creditors 15 95 439 1,731 1,429 1,703 1,575 1,298 1,437 1,599 Multilateral 5 45 388 586 567 592 562 526 572 594 Concessional 0 1 6 7 9 14 16 22 26 30 Bilateral 9 49 51 1,145 863 1,111 1,012 772 864 1,005 Concessional 3 24 21 552 474 562 671 612 705 825 Private creditors 61 126 972 152 685 1,469 943 2,216 2,230 2,235 Bonds 1 16 180 28 439 1,115 395 741 1,902 1,105 Commercial banks 41 43 743 31 80 278 474 1,425 230 1,021 Other private 19 67 49 93 166 76 74 50 98 110 Private nonguaranteed 186 320 62 241 250 780 1,533 2,433 3,165 2,959 Bonds 0 0 0 0 0 20 445 605 999 320 Commercial banks and other 186 320 62 241 250 760 1,088 1,829 2,166 2,639 Memo: IBRD 5 33 301 407 387 384 349 308 322 338 IDA 0 0 1 2 2 3 3 4 5 6 NET FLOWS ON DEBT 157 1,313 1,043 3,255 893 4,283 1,744 1,661 -77 561 Public and publicly guaranteed 67 1,161 814 1,319 633 4,268 2,758 257 953 1,330 Official creditors 60 367 934 102 22 -89 1 -247 -31 -12 Multilateral 12 276 466 45 87 -277 -176 -66 -168 -139 Concessional 0 8 115 64 30 21 26 33 -6 -14 Bilateral 48 91 468 57 -66 188 177 -181 136 127 Concessional 12 78 441 629 311 721 457 -37 271 270 Private creditors 7 794 -120 1,217 612 4,357 2,757 504 985 1,342 Bonds -1 80 395 838 61 3,435 2,235 902 909 1,420 Commercial banks 11 614 -576 421 692 467 522 -429 73 -144 Other private -3 100 61 -42 -142 455 0 30 3 66 Private nonguaranteed 90 152 229 1,935 260 15 -1,014 1,404 -1,031 -768 Bonds 0 0 0 1,793 90 775 -440 -18 -300 265 Commercial banks and other 90 152 229 142 170 -760 -574 1,422 -730 -1,033 Memo: IBRD 11 195 206 -112 -95 -227 -197 -194 -144 -137 IDA 0 2 -1 8 6 3 7 2 -5 -6 422 PHILIPPINES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 44 579 1,573 1,716 1,964 2,050 2,470 3,041 2,928 2,724 Public and publicly guaranteed 26 375 1,486 1,398 1,477 1,637 1,884 1,961 2,041 1,894 Official creditors 11 140 749 950 854 894 843 731 695 650 Multilateral 7 100 444 486 443 447 414 362 330 292 Concessional 0 1 4 10 10 10 11 10 10 11 Bilateral 4 40 305 465 411 447 429 369 365 358 Concessional 2 21 125 291 280 333 348 306 301 311 Private creditors 15 235 737 447 622 743 1,041 1,230 1,346 1,244 Bonds 1 36 31 397 505 650 880 1,013 1,169 1,159 Commercial banks 11 165 671 20 91 69 130 185 147 56 Other private 3 34 35 30 26 24 32 32 30 30 Private nonguaranteed 19 204 87 319 487 413 586 1,080 887 830 Bonds 0 0 0 257 386 387 479 397 323 318 Commercial banks and other 19 204 87 62 101 26 108 684 565 512 Memo: IBRD 7 73 296 302 266 256 223 183 158 140 IDA 0 0 1 1 1 2 2 2 2 2 NET TRANSFERS ON DEBT 113 733 -529 1,538 -1,071 2,233 -727 -1,380 -3,006 -2,163 Public and publicly guaranteed 41 785 -672 -78 -843 2,631 874 -1,704 -1,088 -564 Official creditors 49 227 185 -848 -833 -984 -842 -978 -726 -662 Multilateral 5 176 22 -441 -356 -725 -590 -428 -498 -431 Concessional 0 8 111 55 20 11 16 23 -16 -26 Bilateral 43 51 163 -407 -477 -259 -252 -550 -229 -231 Concessional 9 57 316 338 31 388 108 -342 -30 -41 Private creditors -7 559 -857 770 -11 3,615 1,716 -726 -362 98 Bonds -2 44 364 441 -444 2,785 1,355 -111 -260 261 Commercial banks 0 448 -1,247 401 601 399 393 -613 -74 -200 Other private -5 66 25 -72 -168 431 -32 -2 -27 36 Private nonguaranteed 71 -52 142 1,617 -228 -398 -1,601 324 -1,918 -1,599 Bonds 0 0 0 1,536 -296 388 -919 -414 -623 -54 Commercial banks and other 71 -52 142 80 69 -786 -682 738 -1,295 -1,545 Memo: IBRD 4 123 -90 -414 -361 -483 -421 -377 -301 -277 IDA 0 1 -2 6 5 2 6 0 -7 -8 DEBT SERVICE (LTDS) 305 1,120 3,046 3,841 4,328 6,001 6,521 8,989 9,761 9,518 Public and publicly guaranteed 101 596 2,896 3,281 3,591 4,808 4,401 5,475 5,708 5,729 Official creditors 26 235 1,188 2,681 2,284 2,597 2,417 2,029 2,132 2,249 Multilateral 12 145 832 1,072 1,010 1,039 976 888 902 886 Concessional 0 1 10 17 19 25 27 32 36 41 Bilateral 14 90 356 1,610 1,274 1,557 1,441 1,141 1,229 1,363 Concessional 6 44 146 843 754 894 1,019 918 1,006 1,136 Private creditors 75 362 1,709 600 1,307 2,211 1,984 3,446 3,577 3,480 Bonds 2 52 211 425 944 1,765 1,275 1,754 3,071 2,263 Commercial banks 52 209 1,414 51 171 347 603 1,610 377 1,077 Other private 22 101 85 124 193 100 106 82 128 140 Private nonguaranteed 204 524 149 560 737 1,193 2,119 3,514 4,052 3,789 Bonds 0 0 0 257 386 407 924 1,001 1,321 639 Commercial banks and other 204 524 149 303 351 786 1,196 2,512 2,731 3,151 Memo: IBRD 12 106 597 709 654 641 572 491 480 478 IDA 0 0 2 3 4 4 5 5 7 8 UNDISBURSED DEBT 193 4,365 6,590 7,212 9,426 31,750 10,454 9,527 9,464 8,748 Official creditors 176 3,246 6,156 6,982 9,123 31,332 9,966 8,876 8,923 7,867 Private creditors 16 1,119 434 230 304 419 487 650 541 881 Memorandum items Concessional LDOD 68 954 6,106 10,097 11,540 13,497 12,618 11,204 12,515 14,168 Variable rate LDOD 924 4,399 11,066 19,979 25,503 26,475 29,656 30,164 29,556 28,225 Public sector LDOD 624 6,363 23,668 26,306 28,855 34,746 33,758 29,389 32,430 36,144 Private sector LDOD 920 2,454 1,573 11,791 15,921 15,749 19,112 21,158 20,415 19,143 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 4.4 4.7 5.6 Deutsche mark 12.0 2.0 1.5 1.4 1.4 1.0 0.8 .. .. .. French franc 0.2 2.2 1.5 0.8 0.8 0.6 0.5 .. .. .. Japanese yen 2.7 21.9 31.0 36.5 37.9 38.8 38.3 38.8 40.3 40.0 Pound sterling 0.0 0.2 1.0 0.3 0.2 0.2 0.1 0.1 0.1 0.1 Swiss franc 3.1 0.5 0.5 0.2 0.2 0.1 0.1 0.1 0.1 0.1 U.S.dollars 62.1 51.6 36.2 33.6 34.6 38.9 42.1 40.3 40.5 41.4 Multiple currency 19.3 19.0 23.6 23.9 22.2 17.4 15.4 15.1 13.6 12.1 Special drawing rights 0.0 0.0 0.0 0.7 0.7 0.6 0.5 0.5 0.5 0.5 All other currencies 0.7 2.6 4.6 2.5 2.0 2.4 2.0 0.6 0.2 0.2 423 PHILIPPINES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 1,003 0 0 0 0 of which debt buyback .. .. 721 0 0 859 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 1,927 6,715 2,783 4,534 2,787 -2,352 1,591 2,573 Net flows on debt 182 3,855 1,123 7,564 -3,065 3,135 2,252 1,705 -924 574 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 -144 0 0 0 0 Cross-currency valuation .. .. 1,542 -2,102 1,703 1,253 -2,213 -2,247 1,986 2,478 Residual .. .. 111 1,254 4,146 290 2,748 -1,810 529 -478 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.3 9.9 6.2 4.7 5.5 6.0 6.8 5.2 6.4 6.0 Maturity (years) 11.1 17.6 21.9 21.3 19.1 18.9 16.4 10.4 12.8 9.7 Grace period (years) 1.9 5.3 7.4 10.2 6.5 10.6 9.8 4.9 9.2 7.6 Grant element (%) 11.6 4.1 28.2 34.2 32.0 27.5 19.7 25.2 23.3 17.8 Official creditors Interest (%) 6.8 6.9 5.1 3.7 4.3 2.2 3.3 1.8 1.7 1.8 Maturity (years) 14.0 22.5 24.4 26.4 24.7 27.4 28.1 26.2 29.6 23.9 Grace period (years) 1.9 6.3 7.3 7.7 6.9 7.3 7.3 7.6 9.0 7.4 Grant element (%) 15.0 22.1 36.8 48.4 42.9 58.9 51.4 59.9 65.9 60.4 Private creditors Interest (%) 8.1 13.5 9.2 6.0 8.0 8.3 8.3 6.5 7.3 6.2 Maturity (years) 6.7 11.8 15.1 14.4 6.3 13.5 11.5 4.7 9.3 8.7 Grace period (years) 2.0 4.1 7.6 13.5 5.5 12.7 10.8 3.9 9.2 7.7 Grant element (%) 6.4 -17.3 4.1 15.2 7.1 7.5 6.3 12.7 14.4 15.0 Memorandum items Commitments 164 2,143 3,520 3,040 4,599 8,118 5,364 5,391 5,715 5,268 Official creditors 100 1,164 2,588 1,739 3,198 3,160 1,590 1,428 988 327 Private creditors 64 979 932 1,301 1,401 4,958 3,774 3,963 4,726 4,942 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 3,171 2,334 1,453 855 487 245 117 24 15 11 Principal 5,354 5,756 5,705 4,420 4,400 4,967 3,877 2,900 3,458 3,143 Interest 2,752 2,569 2,357 2,012 1,748 1,540 1,328 1,174 1,083 917 Official creditors Disbursements 2,540 2,155 1,384 852 487 245 117 24 15 11 Principal 2,009 2,039 2,079 1,921 1,815 1,821 1,609 1,549 1,431 1,304 Interest 730 697 649 587 529 470 409 358 310 269 Bilateral creditors Disbursements 2,210 1,854 1,135 661 341 161 72 4 2 1 Principal 1,223 1,272 1,325 1,217 1,104 1,073 1,036 1,038 962 889 Interest 409 406 388 358 331 303 276 249 223 200 Multilateral creditors Disbursements 329 301 249 191 146 83 45 19 13 10 Principal 786 767 754 703 711 748 572 511 469 415 Interest 321 291 262 229 198 167 133 109 87 69 Private creditors Disbursements 631 179 68 2 0 0 0 0 0 0 Principal 3,345 3,717 3,626 2,499 2,585 3,146 2,268 1,351 2,027 1,839 Interest 2,022 1,872 1,708 1,425 1,218 1,070 919 817 773 648 Commercial banks Disbursements 327 127 51 2 0 0 0 0 0 0 Principal 309 280 584 175 92 32 45 45 45 44 Interest 51 47 42 22 15 13 12 10 9 8 Other private Disbursements 173 52 18 0 0 0 0 0 0 0 Principal 3,036 3,437 3,042 2,324 2,493 3,114 2,223 1,306 1,983 1,795 Interest 1,970 1,825 1,666 1,403 1,203 1,057 908 806 764 640 424 POLAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 49,364 41,722 57,718 65,943 65,843 67,376 78,507 95,219 Long-term debt (LDOD) .. .. 39,261 36,589 49,303 54,635 56,175 56,309 64,603 75,719 Public and publicly guaranteed .. .. 39,261 34,177 35,136 33,151 30,784 25,709 29,374 34,964 Private nonguaranteed .. .. 0 2,412 14,167 21,484 25,390 30,599 35,229 40,755 Use of IMF credit .. .. 509 0 0 0 0 0 0 0 Short-term debt .. .. 9,595 5,133 8,415 11,308 9,668 11,067 13,904 19,500 of which interest arrears on LDOD .. .. 8,315 0 0 93 118 0 0 0 Official creditors .. .. 6,568 0 0 0 0 0 0 0 Private creditors .. .. 1,747 0 0 93 118 0 0 0 Memo: principal arrears on LDOD .. .. 5,670 29 3 3 3 3 2 0 Official creditors .. .. 4,284 25 0 0 0 0 0 0 Private creditors .. .. 1,386 4 3 3 3 3 2 0 Memo: export credits .. .. 28,076 16,058 14,992 13,593 12,462 11,245 12,147 12,844 TOTAL DEBT FLOWS Disbursements .. .. 1,025 2,394 4,742 8,233 10,174 13,607 11,685 18,675 Long-term debt .. .. 540 2,394 4,742 8,233 10,174 13,607 11,685 18,675 IMF purchases .. .. 485 0 0 0 0 0 0 0 Principal repayments .. .. 635 1,085 2,910 6,244 7,674 12,609 10,978 16,542 Long-term debt .. .. 635 1,085 2,910 6,244 7,674 12,609 10,978 16,542 IMF repurchases .. .. 0 0 0 0 0 0 0 0 Net flows on debt .. .. 423 3,780 5,114 4,788 835 2,516 1,155 6,958 of which short-term debt .. .. 33 2,470 3,282 2,800 -1,665 1,517 448 4,825 Interest payments (INT) .. .. 332 1,477 1,624 2,130 2,559 2,773 2,511 2,608 Long-term debt .. .. 203 1,286 1,374 1,802 2,223 2,453 2,263 2,293 IMF charges .. .. 23 0 0 0 0 0 0 0 Short-term debt .. .. 105 191 250 328 336 320 247 315 Net transfers on debt .. .. 91 2,303 3,490 2,659 -1,724 -258 -1,356 -771 Total debt service paid (TDS) .. .. 966 2,562 4,534 8,374 10,233 15,382 13,489 19,150 Long-term debt .. .. 838 2,371 4,284 8,046 9,898 15,061 13,242 18,835 IMF repurchases and charges .. .. 23 0 0 0 0 0 0 0 Short-term debt (interest only) .. .. 105 191 250 328 336 320 247 315 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 20 7,469 10,482 9,963 12,962 7,129 5,111 6,520 Net flow of long-term debt (ex. IMF) .. .. -95 1,310 1,832 1,988 2,500 999 707 2,133 Foreign direct investment (net) .. .. 89 4,908 6,365 7,270 9,341 5,713 4,131 4,123 Portfolio equity flows .. .. 0 599 1,734 14 447 -307 -545 -837 Grants (excluding technical coop.) .. .. 26 652 551 690 674 724 819 1,100 Memo: technical coop. grants .. .. 0 145 215 138 110 76 76 110 official net resource flows .. .. -51 512 64 247 219 -3,406 -249 -598 private net resource flows .. .. 71 6,957 10,418 9,715 12,743 10,535 5,360 7,118 NET TRANSFERS .. .. -202 5,544 8,498 7,765 10,039 3,962 2,078 2,134 Interest on long-term debt .. .. 203 1,286 1,374 1,802 2,223 2,453 2,263 2,293 Profit remittances on FDI .. .. 20 639 610 396 700 714 770 2,093 Memo: official net transfers .. .. -164 -265 -695 -659 -435 -4,027 -733 -1,064 private net transfers .. .. -38 5,809 9,193 8,423 10,473 7,989 2,811 3,198 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 55,620 152,533 167,514 163,456 165,074 184,416 189,428 206,452 Exports of goods, serv. & inc. (XGS) .. .. 19,640 41,910 46,471 40,958 49,190 54,978 59,836 76,238 Worker remit. & comp. of employees .. .. 0 848 1,070 825 831 1,131 1,373 2,314 Imports of goods & services (MGS) .. .. 19,084 48,892 55,331 54,961 60,911 62,299 67,014 83,124 International reserves (RES) .. .. 4,674 20,669 28,276 27,314 27,469 26,563 29,784 33,959 Current account balance .. .. 3,067 -5,744 -6,901 -12,487 -9,980 -5,371 -5,007 -4,603 4. DEBT INDICATORS EDT / XGS (%) .. .. 251.3 99.6 124.2 161.0 133.9 122.6 131.2 124.9 EDT / GNI (%) .. .. 88.8 27.4 34.5 40.3 39.9 36.5 41.4 46.1 TDS / XGS (%) .. .. 4.9 6.1 9.8 20.4 20.8 28.0 22.5 25.1 INT / XGS (%) .. .. 1.7 3.5 3.5 5.2 5.2 5.0 4.2 3.4 INT / GNI (%) .. .. 0.6 1.0 1.0 1.3 1.6 1.5 1.3 1.3 RES / EDT (%) .. .. 9.5 49.5 49.0 41.4 41.7 39.4 37.9 35.7 RES / MGS (months) .. .. 2.9 5.1 6.1 6.0 5.4 5.1 5.3 4.9 Short-term / EDT (%) .. .. 19.4 12.3 14.6 17.1 14.7 16.4 17.7 20.5 Concessional / EDT (%) .. .. 7.7 18.4 13.7 11.1 10.3 9.2 8.4 7.1 Multilateral / EDT (%) .. .. 1.1 5.0 3.7 3.3 3.4 3.3 3.0 2.6 425 POLAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 39,261 36,589 49,303 54,635 56,175 56,309 64,603 75,719 Public and publicly guaranteed .. .. 39,261 34,177 35,136 33,151 30,784 25,709 29,374 34,964 Official creditors .. .. 27,919 26,578 27,075 25,059 23,655 17,810 19,747 20,368 Multilateral .. .. 524 2,079 2,156 2,185 2,229 2,211 2,385 2,453 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 27,395 24,499 24,919 22,874 21,426 15,599 17,362 17,915 Concessional .. .. 3,822 7,691 7,904 7,292 6,786 6,183 6,582 6,734 Private creditors .. .. 11,342 7,599 8,062 8,092 7,129 7,899 9,627 14,596 Bonds .. .. 1 6,964 7,365 7,338 6,660 7,738 9,611 14,191 Commercial banks .. .. 9,759 573 650 725 456 155 13 403 Other private .. .. 1,582 63 47 28 13 5 3 2 Private nonguaranteed .. .. 0 2,412 14,167 21,484 25,390 30,599 35,229 40,755 Bonds .. .. 0 850 1,678 2,730 3,462 3,784 3,740 3,993 Commercial banks and other .. .. 0 1,561 12,489 18,754 21,928 26,815 31,489 36,762 Memo: IBRD .. .. 55 2,079 2,156 2,185 2,229 2,211 2,385 2,453 IDA .. .. 0 0 0 0 0 0 0 0 DISBURSEMENTS .. .. 540 2,394 4,742 8,233 10,174 13,607 11,685 18,675 Public and publicly guaranteed .. .. 540 1,010 1,391 520 906 1,940 2,881 5,442 Official creditors .. .. 70 280 153 247 350 299 173 268 Multilateral .. .. 56 239 153 247 349 298 172 143 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 14 42 0 0 0 0 0 125 Concessional .. .. 10 1 0 0 0 0 0 0 Private creditors .. .. 470 730 1,239 272 557 1,642 2,709 5,174 Bonds .. .. 0 400 1,138 0 554 1,596 2,709 5,174 Commercial banks .. .. 300 326 94 270 2 46 0 0 Other private .. .. 170 3 7 3 0 0 0 0 Private nonguaranteed .. .. 0 1,384 3,351 7,713 9,268 11,667 8,803 13,234 Bonds .. .. 0 803 812 1,146 809 425 0 226 Commercial banks and other .. .. 0 581 2,539 6,567 8,459 11,242 8,803 13,008 Memo: IBRD .. .. 54 239 153 247 349 298 172 143 IDA .. .. 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. 635 1,085 2,910 6,244 7,674 12,609 10,978 16,542 Public and publicly guaranteed .. .. 635 510 1,444 846 2,278 5,193 2,750 3,784 Official creditors .. .. 147 420 640 690 805 4,428 1,240 1,966 Multilateral .. .. 46 155 175 188 199 205 206 352 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 101 265 464 502 606 4,223 1,034 1,614 Concessional .. .. 43 80 231 195 205 262 348 498 Private creditors .. .. 488 90 804 156 1,473 765 1,510 1,818 Bonds .. .. 0 0 748 0 1,224 430 1,352 1,808 Commercial banks .. .. 400 54 35 139 235 328 154 9 Other private .. .. 88 36 21 17 14 7 3 1 Private nonguaranteed .. .. 0 575 1,466 5,398 5,396 7,415 8,228 12,758 Bonds .. .. 0 0 0 0 0 0 50 0 Commercial banks and other .. .. 0 575 1,466 5,398 5,396 7,415 8,178 12,758 Memo: IBRD .. .. 0 155 175 188 199 205 206 352 IDA .. .. 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. -95 1,310 1,832 1,988 2,500 999 707 2,133 Public and publicly guaranteed .. .. -95 500 -53 -327 -1,372 -3,253 131 1,657 Official creditors .. .. -77 -140 -487 -443 -456 -4,130 -1,067 -1,699 Multilateral .. .. 10 84 -23 59 150 93 -33 -209 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. -87 -224 -464 -502 -606 -4,223 -1,034 -1,489 Concessional .. .. -33 -79 -231 -195 -204 -262 -348 -498 Private creditors .. .. -18 640 434 116 -916 877 1,199 3,356 Bonds .. .. 0 400 390 0 -670 1,166 1,357 3,366 Commercial banks .. .. -100 272 59 131 -233 -282 -154 -9 Other private .. .. 83 -32 -14 -14 -14 -7 -3 -1 Private nonguaranteed .. .. 0 810 1,884 2,315 3,872 4,252 575 476 Bonds .. .. 0 803 812 1,146 809 425 -50 226 Commercial banks and other .. .. 0 7 1,072 1,169 3,063 3,826 625 250 Memo: IBRD .. .. 54 84 -23 59 150 93 -33 -209 IDA .. .. 0 0 0 0 0 0 0 0 426 POLAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 203 1,286 1,374 1,802 2,223 2,453 2,263 2,293 Public and publicly guaranteed .. .. 203 1,169 1,164 1,316 1,138 1,043 953 1,077 Official creditors .. .. 113 777 759 906 653 622 484 465 Multilateral .. .. 31 142 131 133 122 118 106 95 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 82 636 629 773 532 504 378 370 Concessional .. .. 56 405 407 343 296 279 276 288 Private creditors .. .. 90 391 405 410 484 421 469 612 Bonds .. .. 0 364 349 364 449 401 464 611 Commercial banks .. .. 74 23 53 44 34 20 4 1 Other private .. .. 15 5 3 2 1 1 0 0 Private nonguaranteed .. .. 0 117 210 486 1,086 1,410 1,311 1,216 Bonds .. .. 0 3 65 107 193 265 283 563 Commercial banks and other .. .. 0 114 145 379 892 1,145 1,027 652 Memo: IBRD .. .. 1 142 131 133 122 118 106 95 IDA .. .. 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. -298 23 458 186 276 -1,454 -1,557 -159 Public and publicly guaranteed .. .. -298 -669 -1,217 -1,643 -2,510 -4,296 -821 581 Official creditors .. .. -190 -917 -1,246 -1,349 -1,109 -4,751 -1,551 -2,164 Multilateral .. .. -22 -58 -153 -74 28 -24 -139 -305 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. -169 -859 -1,093 -1,275 -1,137 -4,727 -1,412 -1,859 Concessional .. .. -90 -485 -637 -538 -500 -541 -624 -785 Private creditors .. .. -107 249 30 -294 -1,401 456 730 2,744 Bonds .. .. 0 36 41 -364 -1,119 765 892 2,755 Commercial banks .. .. -175 249 6 86 -267 -302 -159 -10 Other private .. .. 67 -37 -17 -16 -15 -7 -4 -1 Private nonguaranteed .. .. 0 692 1,675 1,829 2,786 2,842 -735 -740 Bonds .. .. 0 800 748 1,039 615 161 -333 -337 Commercial banks and other .. .. 0 -107 927 790 2,171 2,681 -402 -403 Memo: IBRD .. .. 54 -58 -153 -74 28 -24 -139 -305 IDA .. .. 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. 838 2,371 4,284 8,046 9,898 15,061 13,242 18,835 Public and publicly guaranteed .. .. 838 1,679 2,608 2,162 3,416 6,236 3,703 4,861 Official creditors .. .. 260 1,198 1,399 1,596 1,459 5,050 1,724 2,432 Multilateral .. .. 77 297 306 321 321 323 312 448 Concessional .. .. 0 0 0 0 0 0 0 0 Bilateral .. .. 183 901 1,093 1,275 1,138 4,727 1,412 1,984 Concessional .. .. 100 486 637 538 500 541 624 785 Private creditors .. .. 577 481 1,209 566 1,957 1,186 1,979 2,429 Bonds .. .. 0 364 1,097 364 1,674 831 1,816 2,419 Commercial banks .. .. 474 77 88 184 269 348 159 10 Other private .. .. 103 40 24 19 15 7 4 1 Private nonguaranteed .. .. 0 692 1,676 5,884 6,482 8,825 9,539 13,974 Bonds .. .. 0 3 65 107 193 265 333 563 Commercial banks and other .. .. 0 689 1,612 5,777 6,289 8,561 9,206 13,410 Memo: IBRD .. .. 1 297 306 321 321 323 312 448 IDA .. .. 0 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. 2,126 1,223 972 1,217 685 521 388 3,968 Official creditors .. .. 1,297 1,060 912 1,165 638 521 388 3,968 Private creditors .. .. 829 163 60 52 48 0 0 0 Memorandum items Concessional LDOD .. .. 3,822 7,691 7,904 7,292 6,786 6,183 6,582 6,734 Variable rate LDOD .. .. 26,112 23,268 34,789 40,893 42,861 42,534 48,566 55,453 Public sector LDOD .. .. 39,259 33,970 34,934 32,949 30,783 25,709 29,374 34,964 Private sector LDOD .. .. 2 2,619 14,369 21,685 25,392 30,600 35,229 40,755 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 41.0 46.4 55.8 Deutsche mark .. .. 23.3 10.1 10.6 9.4 9.1 .. .. .. French franc .. .. 11.0 12.6 12.9 11.5 11.2 .. .. .. Japanese yen .. .. 2.9 3.8 4.1 4.8 4.5 4.5 4.1 4.2 Pound sterling .. .. 3.8 3.2 3.1 3.1 3.0 3.4 5.3 4.8 Swiss franc .. .. 9.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 32.2 46.5 46.2 48.4 47.7 41.7 36.2 28.3 Multiple currency .. .. 0.1 6.0 5.3 5.2 4.8 4.8 4.0 3.2 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 17.5 17.8 17.8 17.4 19.7 4.6 4.0 3.6 427 POLAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 7 3 0 0 0 0 0 Official .. .. 746 0 0 0 0 0 0 0 Private .. .. 620 7 3 0 0 0 0 0 Interest rescheduled .. .. 2,163 0 0 0 0 0 0 0 Official .. .. 1,998 0 0 0 0 0 0 0 Private .. .. 165 0 0 0 0 0 0 0 Debt forgiven .. .. 232 8 33 0 0 0 0 2 Memo: interest forgiven .. .. 61 0 0 0 0 0 0 0 Debt stock reduction .. .. 284 1,686 748 0 943 1,153 0 0 of which debt buyback .. .. 0 0 748 0 943 290 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 6,279 -1,751 15,996 8,224 -100 1,533 11,131 16,712 Net flows on debt .. .. 423 3,780 5,114 4,788 835 2,516 1,155 6,958 Net change in interest arrears .. .. 987 0 0 93 25 -118 0 0 Interest capitalized .. .. 2,163 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -516 -1,694 -33 0 0 -864 0 -2 Cross-currency valuation .. .. 2,795 -2,309 1,056 -1,638 -1,243 -918 2,363 3,471 Residual .. .. 427 -1,529 9,859 4,981 284 916 5,225 5,514 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 7.5 6.4 7.4 3.9 6.3 5.4 5.9 5.4 Maturity (years) .. .. 15.3 9.9 8.2 9.1 11.2 10.3 9.6 10.7 Grace period (years) .. .. 5.1 6.1 8.0 3.1 8.7 9.7 9.5 5.6 Grant element (%) .. .. 14.6 17.3 13.1 22.2 22.4 28.1 24.4 23.9 Official creditors Interest (%) .. .. 7.2 5.7 4.3 4.5 7.1 4.7 2.5 6.9 Maturity (years) .. .. 17.8 14.9 14.9 14.5 14.5 12.3 16.1 12.7 Grace period (years) .. .. 5.6 5.4 5.4 5.0 5.2 7.6 5.1 0.7 Grant element (%) .. .. 18.0 25.3 34.0 31.6 16.3 31.6 46.1 12.8 Private creditors Interest (%) .. .. 8.5 6.9 7.4 3.1 6.0 5.5 5.9 4.3 Maturity (years) .. .. 7.4 6.7 8.1 3.1 10.0 10.0 9.6 9.2 Grace period (years) .. .. 3.6 6.6 8.1 1.0 10.0 10.0 9.6 9.2 Grant element (%) .. .. 3.9 12.0 12.7 11.9 24.5 27.7 24.3 32.1 Memorandum items Commitments .. .. 1,673 1,347 1,231 573 753 1,797 2,724 8,974 Official creditors .. .. 1,266 533 20 300 196 201 15 3,800 Private creditors .. .. 407 813 1,211 273 556 1,596 2,709 5,174 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 2,023 1,116 516 226 62 14 5 2 1 1 Principal 10,502 9,169 13,549 7,701 9,753 5,706 4,073 4,564 7,110 4,214 Interest 2,929 2,636 2,349 1,945 1,648 1,275 1,035 914 932 349 Official creditors Disbursements 2,023 1,116 516 226 62 14 5 2 1 1 Principal 2,679 3,206 3,650 4,159 4,601 2,926 560 661 508 423 Interest 607 598 538 449 337 210 150 119 90 64 Bilateral creditors Disbursements 1,934 1,044 464 193 39 0 0 0 0 0 Principal 2,377 2,877 3,302 3,800 4,312 2,672 344 345 346 346 Interest 510 514 467 392 294 177 126 104 82 60 Multilateral creditors Disbursements 89 71 52 33 24 14 5 2 1 1 Principal 302 329 348 360 289 254 216 316 162 77 Interest 96 84 71 57 43 33 23 15 8 4 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 7,823 5,963 9,899 3,542 5,152 2,780 3,513 3,904 6,601 3,791 Interest 2,322 2,037 1,811 1,496 1,311 1,065 885 794 842 285 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1 1 1 1 0 0 400 0 0 0 Interest 6 6 6 6 6 6 6 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 7,822 5,962 9,899 3,541 5,152 2,780 3,113 3,904 6,601 3,791 Interest 2,316 2,031 1,805 1,490 1,305 1,059 879 794 842 285 428 ROMANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 9,762 1,140 9,640 10,129 9,455 11,029 12,224 15,724 21,281 Long-term debt (LDOD) .. 7,131 230 8,081 9,014 8,612 10,188 11,415 14,804 19,320 Public and publicly guaranteed .. 7,131 223 6,350 6,658 6,081 6,872 7,236 9,136 11,730 Private nonguaranteed .. 0 7 1,731 2,356 2,531 3,316 4,178 5,668 7,590 Use of IMF credit .. 328 0 641 539 458 453 387 428 595 Short-term debt .. 2,303 910 918 576 385 388 423 492 1,365 of which interest arrears on LDOD .. 0 0 0 21 20 12 12 14 14 Official creditors .. 0 0 0 0 0 4 4 4 5 Private creditors .. 0 0 0 21 20 8 8 9 10 Memo: principal arrears on LDOD .. 0 0 2 44 42 17 23 30 34 Official creditors .. 0 0 2 0 0 0 0 0 1 Private creditors .. 0 0 0 44 42 17 23 30 33 Memo: export credits .. 0 188 1,980 610 651 510 563 412 711 TOTAL DEBT FLOWS Disbursements .. 2,955 26 3,788 2,074 3,432 3,332 3,563 4,818 4,893 Long-term debt .. 2,797 26 3,622 2,074 3,360 3,218 3,496 4,711 4,662 IMF purchases .. 158 0 166 0 72 114 66 107 231 Principal repayments .. 928 4 2,760 1,885 3,156 1,777 1,956 2,596 2,791 Long-term debt .. 824 4 2,625 1,760 3,016 1,681 1,839 2,497 2,679 IMF repurchases .. 104 0 135 125 139 96 117 98 111 Net flows on debt .. 2,027 44 810 -174 87 1,566 1,641 2,289 2,976 of which short-term debt .. 0 22 -218 -363 -190 11 35 67 873 Interest payments (INT) .. 601 14 563 539 561 672 656 579 852 Long-term debt .. 332 0 481 495 518 620 619 556 823 IMF charges .. 20 0 29 29 20 24 19 11 9 Short-term debt .. 249 14 53 15 23 28 18 12 20 Net transfers on debt .. 1,426 30 247 -713 -474 894 985 1,710 2,124 Total debt service paid (TDS) .. 1,529 18 3,323 2,424 3,717 2,449 2,613 3,175 3,643 Long-term debt .. 1,156 4 3,105 2,255 3,534 2,301 2,458 3,053 3,503 IMF repurchases and charges .. 124 0 165 154 159 120 136 109 120 Short-term debt (interest only) .. 249 14 53 15 23 28 18 12 20 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 1,973 24 2,535 2,577 1,648 2,824 3,079 3,638 4,294 Net flow of long-term debt (ex. IMF) .. 1,973 22 998 314 344 1,537 1,657 2,213 1,983 Foreign direct investment (net) .. 0 0 1,215 2,031 1,041 1,037 1,157 1,144 1,844 Portfolio equity flows .. 0 0 195 95 68 58 8 21 69 Grants (excluding technical coop.) .. 0 2 127 136 195 193 257 260 398 Memo: technical coop. grants .. 0 2 57 160 91 109 112 127 143 official net resource flows .. 613 21 478 58 241 871 426 402 414 private net resource flows .. 1,360 4 2,057 2,519 1,407 1,953 2,653 3,236 3,880 NET TRANSFERS .. 1,641 24 2,024 1,928 1,077 2,132 2,343 2,885 3,217 Interest on long-term debt .. 332 0 481 495 518 620 619 556 823 Profit remittances on FDI .. 0 0 30 154 52 72 117 197 254 Memo: official net transfers .. 495 21 237 -152 3 610 126 186 202 private net transfers .. 1,146 3 1,787 2,080 1,074 1,523 2,217 2,700 3,015 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 38,455 34,958 41,673 35,181 36,768 39,883 45,290 55,866 Exports of goods, serv. & inc. (XGS) .. 12,160 6,555 10,160 9,795 10,024 12,440 13,876 16,643 21,032 Worker remit. & comp. of employees .. 0 0 16 49 96 96 116 143 124 Imports of goods & services (MGS) .. 14,580 9,915 12,841 13,461 11,943 14,653 17,244 19,697 26,190 International reserves (RES) .. 2,511 1,374 4,679 3,795 2,491 3,396 4,858 7,286 9,449 Current account balance .. -2,420 -3,254 -2,104 -2,917 -1,297 -1,355 -2,229 -1,525 -3,311 4. DEBT INDICATORS EDT / XGS (%) .. 80.3 17.4 94.9 103.4 94.3 88.7 88.1 94.5 101.2 EDT / GNI (%) .. .. 3.0 27.6 24.3 26.9 30.0 30.7 34.7 38.1 TDS / XGS (%) .. 12.6 0.3 32.7 24.8 37.1 19.7 18.8 19.1 17.3 INT / XGS (%) .. 4.9 0.2 5.5 5.5 5.6 5.4 4.7 3.5 4.1 INT / GNI (%) .. .. 0.0 1.6 1.3 1.6 1.8 1.6 1.3 1.5 RES / EDT (%) .. 25.7 120.5 48.5 37.5 26.3 30.8 39.7 46.3 44.4 RES / MGS (months) .. 2.1 1.7 4.4 3.4 2.5 2.8 3.4 4.4 4.3 Short-term / EDT (%) .. 23.6 79.8 9.5 5.7 4.1 3.5 3.5 3.1 6.4 Concessional / EDT (%) .. 1.8 19.2 4.7 5.8 4.0 3.1 2.5 1.7 1.7 Multilateral / EDT (%) .. 8.3 0.0 23.2 23.9 28.9 29.5 28.3 26.2 22.7 429 ROMANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 7,131 230 8,081 9,014 8,612 10,188 11,415 14,804 19,320 Public and publicly guaranteed .. 7,131 223 6,350 6,658 6,081 6,872 7,236 9,136 11,730 Official creditors .. 2,468 218 3,638 3,701 3,992 4,482 4,524 5,060 5,653 Multilateral .. 806 0 2,235 2,425 2,733 3,257 3,460 4,122 4,827 Concessional .. 0 0 0 2 6 15 19 22 36 Bilateral .. 1,661 218 1,403 1,276 1,259 1,225 1,065 938 826 Concessional .. 174 218 451 585 373 329 282 251 332 Private creditors .. 4,663 5 2,712 2,957 2,089 2,390 2,712 4,076 6,077 Bonds .. 0 0 1,016 1,118 652 736 1,064 1,101 2,210 Commercial banks .. 4,222 0 920 1,008 762 1,106 1,222 2,584 3,516 Other private .. 441 5 776 831 675 548 426 390 350 Private nonguaranteed .. 0 7 1,731 2,356 2,531 3,316 4,178 5,668 7,590 Bonds .. 0 0 75 75 75 0 0 120 120 Commercial banks and other .. 0 7 1,656 2,281 2,456 3,316 4,178 5,548 7,470 Memo: IBRD .. 806 0 1,305 1,443 1,662 1,898 1,876 2,173 2,296 IDA .. 0 0 0 0 0 0 0 0 0 DISBURSEMENTS .. 2,797 26 3,622 2,074 3,360 3,218 3,496 4,711 4,662 Public and publicly guaranteed .. 2,797 23 1,843 1,250 2,031 2,011 1,892 2,573 2,640 Official creditors .. 954 19 672 720 770 1,157 664 734 686 Multilateral .. 239 0 544 439 710 952 536 620 578 Concessional .. 0 0 0 2 5 8 4 2 6 Bilateral .. 715 19 129 281 60 205 128 114 108 Concessional .. 0 19 56 112 26 57 40 29 60 Private creditors .. 1,843 5 1,171 530 1,261 854 1,228 1,839 1,953 Bonds .. 0 0 346 0 0 139 672 142 792 Commercial banks .. 1,402 0 656 350 1,199 673 523 1,623 1,112 Other private .. 441 5 168 180 62 42 33 74 50 Private nonguaranteed .. 0 3 1,779 825 1,329 1,207 1,605 2,138 2,022 Bonds .. 0 0 75 0 0 0 0 120 0 Commercial banks and other .. 0 3 1,704 825 1,329 1,207 1,605 2,018 2,022 Memo: IBRD .. 239 0 399 153 315 384 132 335 131 IDA .. 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. 824 4 2,625 1,760 3,016 1,681 1,839 2,497 2,679 Public and publicly guaranteed .. 824 0 1,542 1,561 1,529 960 1,319 1,458 1,495 Official creditors .. 341 0 322 799 724 479 495 592 671 Multilateral .. 22 0 78 345 278 313 235 288 322 Concessional .. 0 0 0 0 0 0 0 0 0 Bilateral .. 319 0 244 454 446 166 260 304 349 Concessional .. 0 0 5 10 220 72 66 90 64 Private creditors .. 483 0 1,220 762 806 481 823 867 824 Bonds .. 0 0 0 0 456 0 297 290 0 Commercial banks .. 483 0 1,073 614 178 317 383 436 669 Other private .. 0 0 147 148 171 164 143 141 155 Private nonguaranteed .. 0 4 1,083 200 1,487 721 521 1,039 1,184 Bonds .. 0 0 0 0 0 75 0 0 0 Commercial banks and other .. 0 4 1,083 200 1,487 646 521 1,039 1,184 Memo: IBRD .. 22 0 28 68 83 91 101 120 145 IDA .. 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. 1,973 22 998 314 344 1,537 1,657 2,213 1,983 Public and publicly guaranteed .. 1,973 23 302 -311 502 1,051 573 1,114 1,145 Official creditors .. 613 19 351 -79 46 678 169 142 16 Multilateral .. 217 0 466 94 432 640 300 332 257 Concessional .. 0 0 0 2 5 8 4 2 6 Bilateral .. 396 19 -116 -173 -386 38 -131 -190 -241 Concessional .. 0 19 51 101 -194 -15 -27 -61 -4 Private creditors .. 1,360 5 -49 -232 456 373 404 972 1,129 Bonds .. 0 0 346 0 -456 139 375 -148 792 Commercial banks .. 919 0 -417 -264 1,021 356 140 1,186 443 Other private .. 441 5 21 32 -109 -122 -110 -67 -105 Private nonguaranteed .. 0 -1 696 625 -158 486 1,084 1,099 838 Bonds .. 0 0 75 0 0 -75 0 120 0 Commercial banks and other .. 0 -1 621 625 -158 561 1,084 979 838 Memo: IBRD .. 217 0 371 84 233 293 31 214 -14 IDA .. 0 0 0 0 0 0 0 0 0 430 ROMANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 332 0 481 495 518 620 619 556 823 Public and publicly guaranteed .. 332 0 378 356 378 427 480 457 568 Official creditors .. 118 0 241 210 238 261 300 217 212 Multilateral .. 59 0 159 146 180 200 207 159 166 Concessional .. 0 0 0 0 0 1 2 1 1 Bilateral .. 59 0 82 64 58 61 93 58 46 Concessional .. 0 0 15 15 14 14 11 9 10 Private creditors .. 214 0 137 146 140 166 179 240 356 Bonds .. 0 0 39 63 54 45 48 131 131 Commercial banks .. 172 0 39 39 32 72 92 82 202 Other private .. 42 0 59 44 54 49 39 27 23 Private nonguaranteed .. 0 0 103 139 140 193 140 99 256 Bonds .. 0 0 0 7 7 7 0 2 6 Commercial banks and other .. 0 0 103 132 133 186 140 97 250 Memo: IBRD .. 59 0 70 82 88 104 103 76 69 IDA .. 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. 1,641 22 517 -181 -174 917 1,038 1,657 1,160 Public and publicly guaranteed .. 1,641 23 -76 -666 124 624 93 657 577 Official creditors .. 495 19 110 -288 -192 417 -131 -74 -196 Multilateral .. 158 0 307 -52 252 440 93 173 90 Concessional .. 0 0 0 1 5 8 3 1 5 Bilateral .. 337 19 -198 -237 -444 -23 -224 -247 -286 Concessional .. 0 19 37 87 -208 -28 -37 -70 -14 Private creditors .. 1,146 5 -186 -378 315 206 225 732 773 Bonds .. 0 0 308 -63 -511 93 327 -279 661 Commercial banks .. 747 0 -456 -303 988 285 48 1,105 241 Other private .. 399 5 -38 -12 -162 -172 -150 -94 -128 Private nonguaranteed .. 0 -1 593 486 -298 293 944 1,000 582 Bonds .. 0 0 75 -7 -7 -82 0 118 -6 Commercial banks and other .. 0 -1 518 493 -291 375 944 882 588 Memo: IBRD .. 158 0 301 3 145 189 -72 139 -82 IDA .. 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. 1,156 4 3,105 2,255 3,534 2,301 2,458 3,053 3,503 Public and publicly guaranteed .. 1,156 0 1,920 1,916 1,907 1,387 1,798 1,915 2,063 Official creditors .. 459 0 563 1,008 961 740 795 808 883 Multilateral .. 81 0 237 491 457 512 443 447 488 Concessional .. 0 0 0 0 0 1 2 1 1 Bilateral .. 378 0 326 517 504 227 353 361 395 Concessional .. 0 0 19 25 234 85 77 99 74 Private creditors .. 698 0 1,357 908 946 647 1,003 1,107 1,180 Bonds .. 0 0 39 63 511 45 345 421 131 Commercial banks .. 656 0 1,112 653 211 389 475 518 871 Other private .. 42 0 206 192 225 213 183 168 178 Private nonguaranteed .. 0 4 1,186 339 1,627 914 660 1,138 1,440 Bonds .. 0 0 0 7 7 82 0 2 6 Commercial banks and other .. 0 4 1,186 332 1,620 832 660 1,136 1,434 Memo: IBRD .. 81 0 99 150 170 195 204 196 214 IDA .. 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT .. 1,865 113 3,282 3,581 3,617 4,343 3,988 4,417 4,753 Official creditors .. 1,347 0 2,784 3,042 2,956 3,144 2,767 2,830 3,070 Private creditors .. 518 113 497 539 661 1,199 1,221 1,587 1,683 Memorandum items Concessional LDOD .. 174 218 451 587 380 344 301 273 368 Variable rate LDOD .. 4,222 7 3,985 5,334 5,933 7,355 8,066 10,514 13,556 Public sector LDOD .. 7,131 223 6,204 6,476 5,921 6,723 7,103 8,992 11,532 Private sector LDOD .. 0 7 1,877 2,538 2,691 3,466 4,311 5,811 7,788 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 42.4 49.5 57.7 Deutsche mark .. 2.1 0.0 11.8 12.4 11.5 9.0 .. .. .. French franc .. 0.0 0.8 3.9 4.0 3.6 2.7 .. .. .. Japanese yen .. 0.0 0.0 15.2 12.2 6.6 5.1 1.6 1.6 2.3 Pound sterling .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 Swiss franc .. 2.6 89.5 0.8 1.1 1.0 0.9 0.9 0.9 0.9 U.S.dollars .. 83.8 9.8 36.2 37.8 42.5 44.6 40.3 35.3 27.0 Multiple currency .. 11.4 0.0 16.2 16.9 19.1 15.9 14.2 12.2 10.1 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 15.9 15.6 15.7 21.9 0.6 0.5 1.6 431 ROMANIA (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 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 85 81 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 1,186 489 -674 1,574 1,195 3,499 5,557 Net flows on debt .. 2,027 44 810 -174 87 1,566 1,641 2,289 2,976 Net change in interest arrears .. .. 0 0 21 -1 -8 0 2 1 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 -466 342 -206 -255 -207 700 1,040 Residual .. .. -30 842 300 -553 271 -239 508 1,540 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 14.1 7.6 8.2 5.2 6.3 7.4 7.0 5.8 3.9 Maturity (years) .. 8.5 10.7 10.7 15.1 14.7 11.4 11.6 385.4 9.6 Grace period (years) .. 3.5 4.5 3.6 4.4 3.6 3.3 4.8 5.1 4.0 Grant element (%) .. -16.0 13.2 14.0 25.4 20.7 14.2 17.0 20.6 27.5 Official creditors Interest (%) .. 8.0 2.7 5.9 5.4 5.6 5.9 3.3 3.5 1.9 Maturity (years) .. 14.9 25.5 18.8 20.4 20.3 16.9 24.9 18.3 18.3 Grace period (years) .. 3.4 10.0 5.2 6.4 5.4 4.2 6.7 5.0 5.2 Grant element (%) .. 10.0 57.3 25.9 32.0 29.1 24.5 49.4 40.8 52.4 Private creditors Interest (%) .. 15.0 8.4 10.3 5.0 7.3 9.1 8.5 6.4 4.4 Maturity (years) .. 7.6 8.2 3.5 6.2 6.3 5.7 6.3 470.1 7.4 Grace period (years) .. 3.6 3.6 2.2 1.1 1.1 2.5 4.0 5.1 3.8 Grant element (%) .. -19.8 5.8 3.4 14.2 8.2 3.5 4.0 15.9 21.2 Memorandum items Commitments .. 1,886 132 1,865 1,503 1,492 2,858 1,805 2,563 2,854 Official creditors .. 240 19 873 944 889 1,459 517 480 577 Private creditors .. 1,646 113 992 558 603 1,399 1,288 2,083 2,277 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,976 1,180 678 364 227 141 76 49 24 14 Principal 3,012 3,006 2,607 2,662 3,132 2,189 1,704 712 1,528 568 Interest 1,073 954 798 681 558 366 297 221 160 101 Official creditors Disbursements 938 734 511 347 227 141 76 49 24 14 Principal 852 659 634 629 649 650 540 509 479 468 Interest 232 219 202 187 171 152 134 119 103 89 Bilateral creditors Disbursements 111 110 70 44 23 11 6 0 0 0 Principal 358 148 54 40 42 42 25 29 28 28 Interest 29 20 15 13 12 11 10 9 8 7 Multilateral creditors Disbursements 828 624 441 303 203 130 70 49 24 14 Principal 494 512 580 590 607 608 515 480 451 440 Interest 202 199 187 174 159 141 124 110 95 81 Private creditors Disbursements 1,037 446 167 18 0 0 0 0 0 0 Principal 2,161 2,347 1,973 2,033 2,483 1,539 1,165 203 1,048 100 Interest 841 734 595 493 387 214 163 103 57 13 Commercial banks Disbursements 992 430 161 18 0 0 0 0 0 0 Principal 611 616 651 599 442 326 260 201 1,048 100 Interest 201 198 184 162 141 124 112 102 57 13 Other private Disbursements 45 16 7 0 0 0 0 0 0 0 Principal 1,550 1,731 1,322 1,433 2,041 1,213 904 1 0 0 Interest 640 536 411 331 246 89 51 0 0 0 432 RUSSIAN FEDERATION (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 127,621 177,861 174,759 160,027 152,491 147,437 175,257 Long-term debt (LDOD) .. .. .. 108,483 143,775 143,776 132,784 126,086 124,637 139,386 Public and publicly guaranteed .. .. .. 106,578 121,612 121,193 111,022 103,760 96,123 98,264 Private nonguaranteed .. .. .. 1,905 22,163 22,583 21,762 22,326 28,514 41,121 Use of IMF credit .. .. .. 13,231 19,335 15,238 11,613 7,433 6,481 5,069 Short-term debt .. .. .. 5,908 14,751 15,745 15,630 18,972 16,319 30,803 of which interest arrears on LDOD .. .. .. 2,708 4,651 6,645 4,530 5,372 4,319 3,603 Official creditors .. .. .. 1,909 3,572 4,326 4,454 5,304 4,251 3,536 Private creditors .. .. .. 799 1,078 2,318 76 67 67 67 Memo: principal arrears on LDOD .. .. .. 6,516 6,741 7,486 7,368 5,456 4,853 4,557 Official creditors .. .. .. 4,737 4,320 6,719 6,602 5,206 4,603 4,307 Private creditors .. .. .. 1,779 2,422 767 766 250 250 250 Memo: export credits .. .. .. 37,471 30,197 28,255 27,220 31,367 35,333 38,402 TOTAL DEBT FLOWS Disbursements .. .. .. 10,859 24,190 3,744 1,416 2,936 6,027 14,186 Long-term debt .. .. .. 8,840 17,948 3,099 1,416 2,936 6,027 14,186 IMF purchases .. .. .. 2,019 6,241 645 0 0 0 0 Principal repayments .. .. .. 1,904 5,081 6,918 6,221 9,333 6,995 10,951 Long-term debt .. .. .. 1,409 4,166 2,678 3,333 5,517 5,509 9,054 IMF repurchases .. .. .. 495 914 4,240 2,888 3,817 1,486 1,897 Net flows on debt .. .. .. 7,555 21,912 -4,174 -2,805 -3,898 -2,567 12,835 of which short-term debt .. .. .. -1,400 -500 -1,000 2,000 2,500 -1,600 9,600 Interest payments (INT) .. .. .. 5,129 5,817 5,171 5,604 7,937 7,168 8,243 Long-term debt .. .. .. 4,547 5,099 3,943 4,284 6,807 6,434 7,462 IMF charges .. .. .. 582 718 723 691 507 209 113 Short-term debt .. .. .. 0 0 505 630 624 525 669 Net transfers on debt .. .. .. 2,426 16,095 -9,345 -8,409 -11,835 -9,735 4,592 Total debt service paid (TDS) .. .. .. 7,033 10,898 12,089 11,825 17,271 14,162 19,194 Long-term debt .. .. .. 5,956 9,266 6,621 7,617 12,323 11,942 16,516 IMF repurchases and charges .. .. .. 1,077 1,632 4,963 3,579 4,323 1,695 2,010 Short-term debt (interest only) .. .. .. 0 0 505 630 624 525 669 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 13,914 17,437 4,249 1,608 788 6,847 13,916 Net flow of long-term debt (ex. IMF) .. .. .. 7,431 13,782 421 -1,917 -2,581 519 5,132 Foreign direct investment (net) .. .. .. 4,864 2,764 3,309 2,713 2,469 3,461 7,958 Portfolio equity flows .. .. .. 1,266 714 -287 150 542 2,626 413 Grants (excluding technical coop.) .. .. .. 353 177 805 662 358 241 413 Memo: technical coop. grants .. .. .. 432 828 860 587 803 1,116 878 official net resource flows .. .. .. 2,998 1,175 1,381 201 -645 -1,607 -1,868 private net resource flows .. .. .. 10,916 16,262 2,868 1,406 1,433 8,454 15,784 NET TRANSFERS .. .. .. 8,444 11,480 -312 -3,563 -7,512 -2,555 -6,066 Interest on long-term debt .. .. .. 4,547 5,099 3,943 4,284 6,807 6,434 7,462 Profit remittances on FDI .. .. .. 923 857 618 887 1,493 2,969 12,521 Memo: official net transfers .. .. .. 276 -624 741 -1,026 -3,856 -4,047 -4,612 private net transfers .. .. .. 8,168 12,104 -1,053 -2,537 -3,655 1,492 -1,454 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 396,236 259,163 188,190 252,972 302,365 339,006 419,684 Exports of goods, serv. & inc. (XGS) .. .. .. 105,341 91,117 88,498 119,351 120,488 126,821 163,316 Worker remit. & comp. of employees .. .. .. 2,268 1,925 1,292 1,275 1,403 1,359 1,453 Imports of goods & services (MGS) .. .. .. 105,065 90,564 64,488 72,582 85,513 96,723 126,786 International reserves (RES) .. .. .. 17,624 12,043 12,325 27,656 36,303 48,326 78,409 Current account balance .. .. .. -80 216 24,611 46,840 33,795 29,116 35,845 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 121.2 195.2 197.5 134.1 126.6 116.3 107.3 EDT / GNI (%) .. .. .. 32.2 68.6 92.9 63.3 50.4 43.5 41.8 TDS / XGS (%) .. .. .. 6.7 12.0 13.7 9.9 14.3 11.2 11.8 INT / XGS (%) .. .. .. 4.9 6.4 5.8 4.7 6.6 5.7 5.0 INT / GNI (%) .. .. .. 1.3 2.2 2.7 2.2 2.6 2.1 2.0 RES / EDT (%) .. .. .. 13.8 6.8 7.1 17.3 23.8 32.8 44.7 RES / MGS (months) .. .. .. 2.0 1.6 2.3 4.6 5.1 6.0 7.4 Short-term / EDT (%) .. .. .. 4.6 8.3 9.0 9.8 12.4 11.1 17.6 Concessional / EDT (%) .. .. .. 0.9 1.2 0.3 0.6 0.5 0.4 0.8 Multilateral / EDT (%) .. .. .. 4.1 3.7 4.0 4.4 4.6 4.6 3.8 433 RUSSIAN FEDERATION (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 108,483 143,775 143,776 132,784 126,086 124,637 139,386 Public and publicly guaranteed .. .. .. 106,578 121,612 121,193 111,022 103,760 96,123 98,264 Official creditors .. .. .. 63,583 68,922 71,452 70,851 64,236 55,671 59,603 Multilateral .. .. .. 5,289 6,577 6,915 7,040 6,969 6,807 6,579 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 58,295 62,344 64,536 63,811 57,267 48,865 53,023 Concessional .. .. .. 1,186 2,173 536 989 741 608 1,486 Private creditors .. .. .. 42,994 52,690 49,741 40,171 39,524 40,451 38,662 Bonds .. .. .. 4,585 15,981 15,644 36,368 35,279 36,797 35,681 Commercial banks .. .. .. 29,288 29,305 29,033 440 390 452 230 Other private .. .. .. 9,121 7,404 5,065 3,363 3,855 3,201 2,751 Private nonguaranteed .. .. .. 1,905 22,163 22,583 21,762 22,326 28,514 41,121 Bonds .. .. .. 1,905 2,189 2,171 1,412 1,734 4,526 10,852 Commercial banks and other .. .. .. 0 19,974 20,413 20,350 20,592 23,989 30,269 Memo: IBRD .. .. .. 5,053 6,337 6,707 6,844 6,746 6,599 6,289 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 8,840 17,948 3,099 1,416 2,936 6,027 14,186 Public and publicly guaranteed .. .. .. 6,935 14,662 2,079 1,036 912 829 697 Official creditors .. .. .. 3,045 2,165 1,288 746 738 643 505 Multilateral .. .. .. 2,748 1,293 561 574 432 246 348 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 297 872 727 172 306 397 156 Concessional .. .. .. 0 0 346 0 21 8 0 Private creditors .. .. .. 3,890 12,497 791 290 174 187 192 Bonds .. .. .. 3,555 11,329 0 0 0 0 0 Commercial banks .. .. .. 2 5 0 0 0 0 0 Other private .. .. .. 333 1,162 791 290 174 187 192 Private nonguaranteed .. .. .. 1,905 3,287 1,021 380 2,024 5,198 13,489 Bonds .. .. .. 1,905 278 0 75 528 3,493 6,686 Commercial banks and other .. .. .. 0 3,009 1,021 305 1,496 1,705 6,803 Memo: IBRD .. .. .. 2,691 1,226 538 540 378 229 233 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 1,409 4,166 2,678 3,333 5,517 5,509 9,054 Public and publicly guaranteed .. .. .. 1,409 3,741 1,998 2,031 4,105 3,444 5,934 Official creditors .. .. .. 400 1,167 713 1,206 1,740 2,491 2,786 Multilateral .. .. .. 68 129 204 312 382 557 752 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 332 1,038 509 894 1,359 1,933 2,034 Concessional .. .. .. 42 60 30 41 166 142 122 Private creditors .. .. .. 1,009 2,574 1,286 825 2,364 953 3,148 Bonds .. .. .. 0 69 0 268 1,000 17 1,688 Commercial banks .. .. .. 29 270 35 19 29 9 485 Other private .. .. .. 980 2,235 1,251 538 1,335 927 975 Private nonguaranteed .. .. .. 0 426 680 1,302 1,412 2,065 3,120 Bonds .. .. .. 0 0 0 825 207 730 576 Commercial banks and other .. .. .. 0 426 680 477 1,205 1,335 2,544 Memo: IBRD .. .. .. 0 66 150 266 355 526 719 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 7,431 13,782 421 -1,917 -2,581 519 5,132 Public and publicly guaranteed .. .. .. 5,526 10,921 80 -995 -3,193 -2,615 -5,237 Official creditors .. .. .. 2,645 998 575 -460 -1,003 -1,848 -2,281 Multilateral .. .. .. 2,680 1,164 357 262 50 -312 -404 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. -35 -166 218 -722 -1,053 -1,536 -1,878 Concessional .. .. .. -42 -60 316 -41 -145 -134 -122 Private creditors .. .. .. 2,881 9,923 -495 -535 -2,191 -767 -2,956 Bonds .. .. .. 3,555 11,260 0 -268 -1,000 -17 -1,688 Commercial banks .. .. .. -27 -264 -35 -19 -29 -9 -485 Other private .. .. .. -648 -1,073 -460 -248 -1,162 -740 -782 Private nonguaranteed .. .. .. 1,905 2,861 341 -922 612 3,133 10,369 Bonds .. .. .. 1,905 278 0 -750 321 2,763 6,110 Commercial banks and other .. .. .. 0 2,583 341 -172 291 371 4,259 Memo: IBRD .. .. .. 2,691 1,160 388 274 23 -296 -486 IDA .. .. .. 0 0 0 0 0 0 0 434 RUSSIAN FEDERATION (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 4,547 5,099 3,943 4,284 6,807 6,434 7,462 Public and publicly guaranteed .. .. .. 4,547 3,507 2,569 3,207 5,861 5,405 5,600 Official creditors .. .. .. 2,722 1,799 640 1,227 3,212 2,441 2,745 Multilateral .. .. .. 200 332 371 431 399 245 179 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2,522 1,466 269 796 2,812 2,195 2,566 Concessional .. .. .. 18 16 13 1 24 27 22 Private creditors .. .. .. 1,824 1,708 1,929 1,979 2,650 2,964 2,855 Bonds .. .. .. 216 669 1,639 1,845 2,414 2,756 2,697 Commercial banks .. .. .. 1,250 790 6 4 43 34 36 Other private .. .. .. 358 249 285 130 193 174 121 Private nonguaranteed .. .. .. 0 1,593 1,374 1,077 945 1,029 1,862 Bonds .. .. .. 0 129 170 165 80 281 966 Commercial banks and other .. .. .. 0 1,464 1,204 912 865 748 897 Memo: IBRD .. .. .. 178 316 359 412 384 238 175 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 2,884 8,683 -3,522 -6,201 -9,388 -5,915 -2,330 Public and publicly guaranteed .. .. .. 979 7,414 -2,489 -4,202 -9,055 -8,019 -10,837 Official creditors .. .. .. -77 -801 -65 -1,688 -4,214 -4,288 -5,026 Multilateral .. .. .. 2,480 832 -14 -169 -349 -557 -582 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. -2,557 -1,633 -51 -1,518 -3,865 -3,732 -4,443 Concessional .. .. .. -60 -76 302 -41 -169 -161 -144 Private creditors .. .. .. 1,056 8,215 -2,424 -2,514 -4,840 -3,731 -5,811 Bonds .. .. .. 3,339 10,590 -1,639 -2,113 -3,414 -2,773 -4,386 Commercial banks .. .. .. -1,277 -1,054 -41 -23 -72 -43 -522 Other private .. .. .. -1,006 -1,321 -745 -378 -1,354 -914 -903 Private nonguaranteed .. .. .. 1,905 1,268 -1,033 -1,999 -333 2,105 8,507 Bonds .. .. .. 1,905 149 -170 -915 241 2,482 5,144 Commercial banks and other .. .. .. 0 1,119 -863 -1,084 -574 -377 3,363 Memo: IBRD .. .. .. 2,513 844 29 -138 -361 -534 -661 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 5,956 9,266 6,621 7,617 12,323 11,942 16,516 Public and publicly guaranteed .. .. .. 5,956 7,247 4,567 5,238 9,966 8,848 11,534 Official creditors .. .. .. 3,122 2,965 1,353 2,434 4,952 4,931 5,530 Multilateral .. .. .. 268 461 575 743 781 803 931 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2,854 2,504 778 1,690 4,171 4,128 4,600 Concessional .. .. .. 60 76 43 41 190 169 144 Private creditors .. .. .. 2,833 4,282 3,215 2,804 5,014 3,917 6,003 Bonds .. .. .. 216 739 1,639 2,113 3,414 2,773 4,386 Commercial banks .. .. .. 1,279 1,060 41 23 72 43 522 Other private .. .. .. 1,338 2,484 1,535 668 1,528 1,101 1,096 Private nonguaranteed .. .. .. 0 2,018 2,054 2,379 2,357 3,094 4,982 Bonds .. .. .. 0 129 170 990 287 1,011 1,542 Commercial banks and other .. .. .. 0 1,889 1,884 1,389 2,070 2,083 3,440 Memo: IBRD .. .. .. 178 382 509 679 739 764 894 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 7,894 7,084 6,430 3,393 2,976 3,269 3,150 Official creditors .. .. .. 5,498 5,567 5,272 2,581 2,408 2,853 3,002 Private creditors .. .. .. 2,396 1,516 1,158 812 568 416 148 Memorandum items Concessional LDOD .. .. .. 1,186 2,173 536 989 741 608 1,486 Variable rate LDOD .. .. .. 67,011 87,853 80,002 46,697 44,743 50,139 61,544 Public sector LDOD .. .. .. 106,578 121,612 121,193 111,022 103,760 96,123 98,264 Private sector LDOD .. .. .. 1,905 22,163 22,583 21,762 22,326 28,514 41,121 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 20.3 23.6 24.3 Deutsche mark .. .. .. 29.0 29.0 22.0 20.8 .. .. .. French franc .. .. .. 0.5 0.5 0.4 0.4 .. .. .. Japanese yen .. .. .. 0.2 0.2 0.2 0.1 0.1 0.2 0.4 Pound sterling .. .. .. 0.3 0.3 0.2 0.1 0.1 0.1 0.1 Swiss franc .. .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 64.6 64.4 71.5 72.3 73.4 69.6 69.1 Multiple currency .. .. .. 4.7 4.9 5.1 5.7 6.0 6.4 6.0 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 0.6 0.7 0.5 0.5 0.0 0.0 0.2 435 RUSSIAN FEDERATION (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 34,656 5,270 13,680 26,526 2,171 3,256 2,271 Debt stock rescheduled .. .. .. 121 0 0 17,369 0 0 0 Principal rescheduled .. .. .. 28,987 3,861 7,686 3,189 2,171 2,123 2,095 Official .. .. .. 3,718 2,855 6,000 2,782 2,171 2,123 2,095 Private .. .. .. 25,269 1,006 1,685 407 0 0 0 Interest rescheduled .. .. .. 5,263 524 4,967 4,356 0 0 0 Official .. .. .. 581 367 4,553 2,198 0 0 0 Private .. .. .. 4,681 158 414 2,158 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 .. .. .. 5 0 0 11,600 0 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. .. 1,200 50,240 -3,102 -14,732 -7,536 -5,054 27,821 Net flows on debt .. .. .. 7,555 21,912 -4,174 -2,805 -3,898 -2,567 12,835 Net change in interest arrears .. .. .. -4,649 1,943 1,994 -2,114 841 -1,053 -716 Interest capitalized .. .. .. 5,263 524 4,967 4,356 0 0 0 Debt forgiveness or reduction .. .. .. -5 0 0 -11,600 0 0 0 Cross-currency valuation .. .. .. -7,109 3,014 -5,639 -2,990 -1,801 4,815 5,466 Residual .. .. .. 145 18,749 -249 421 -2,678 -6,250 4,636 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 7.8 9.8 4.0 5.1 5.2 2.6 2.2 Maturity (years) .. .. .. 13.2 14.6 11.5 9.9 13.3 15.6 12.8 Grace period (years) .. .. .. 6.6 13.3 2.9 2.7 2.3 4.6 3.7 Grant element (%) .. .. .. 12.4 -2.3 27.0 17.1 23.1 44.0 37.6 Official creditors Interest (%) .. .. .. 6.3 6.4 3.6 7.3 5.3 2.6 2.2 Maturity (years) .. .. .. 17.4 10.6 12.3 16.8 13.6 16.1 12.8 Grace period (years) .. .. .. 5.2 4.1 3.8 5.3 2.3 4.7 3.7 Grant element (%) .. .. .. 21.3 16.6 30.7 16.0 23.1 44.8 37.6 Private creditors Interest (%) .. .. .. 9.2 10.5 5.1 4.3 3.0 2.8 0.0 Maturity (years) .. .. .. 9.0 15.5 9.3 7.3 7.0 6.5 0.0 Grace period (years) .. .. .. 8.0 15.3 0.3 1.7 2.0 3.5 0.0 Grant element (%) .. .. .. 3.5 -6.3 17.0 17.5 23.7 26.9 0.0 Memorandum items Commitments .. .. .. 8,315 14,235 1,671 106 912 1,286 771 Official creditors .. .. .. 4,152 2,464 1,225 30 874 1,230 771 Private creditors .. .. .. 4,163 11,771 446 76 38 56 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,098 688 384 300 226 143 104 75 46 36 Principal 13,011 14,183 9,451 13,485 11,612 9,730 10,182 8,756 7,725 7,685 Interest 7,721 7,011 6,369 6,022 5,558 4,997 4,492 3,986 3,621 3,123 Official creditors Disbursements 1,018 653 379 298 226 143 104 75 46 36 Principal 4,253 4,498 4,141 4,580 4,766 4,932 4,922 4,732 4,682 4,763 Interest 3,020 2,885 2,726 2,567 2,381 2,189 1,975 1,742 1,495 1,241 Bilateral creditors Disbursements 287 161 68 26 15 0 0 0 0 0 Principal 3,402 3,625 3,325 3,703 3,903 4,090 4,099 3,993 4,070 4,253 Interest 2,825 2,701 2,561 2,420 2,254 2,082 1,888 1,676 1,447 1,206 Multilateral creditors Disbursements 731 492 311 273 210 143 104 75 46 36 Principal 851 873 816 877 863 842 823 740 613 510 Interest 196 183 166 147 127 107 87 66 48 35 Private creditors Disbursements 81 35 5 2 0 0 0 0 0 0 Principal 8,758 9,685 5,310 8,905 6,846 4,799 5,260 4,024 3,043 2,922 Interest 4,701 4,126 3,643 3,455 3,177 2,808 2,517 2,244 2,126 1,883 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 47 92 91 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 Other private Disbursements 81 35 5 2 0 0 0 0 0 0 Principal 8,711 9,593 5,219 8,905 6,846 4,799 5,260 4,024 3,043 2,922 Interest 4,701 4,126 3,643 3,455 3,177 2,808 2,517 2,244 2,126 1,883 436 RWANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 5 190 712 1,113 1,228 1,294 1,273 1,285 1,437 1,540 Long-term debt (LDOD) 2 150 664 996 1,122 1,164 1,148 1,165 1,307 1,418 Public and publicly guaranteed 2 150 664 996 1,122 1,164 1,148 1,165 1,307 1,418 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 3 14 0 40 56 76 86 84 85 92 Short-term debt 0 26 47 77 49 54 39 36 45 30 of which interest arrears on LDOD 0 0 2 29 15 16 17 17 17 18 Official creditors 0 0 2 29 15 16 17 16 17 18 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 0 8 68 61 67 74 73 78 81 Official creditors 0 0 8 66 60 66 73 72 77 79 Private creditors 0 0 0 1 1 1 1 1 1 2 Memo: export credits 0 0 41 26 10 10 11 10 11 11 TOTAL DEBT FLOWS Disbursements 0 34 62 92 104 111 65 76 85 32 Long-term debt 0 27 62 72 88 82 40 64 85 31 IMF purchases 0 6 0 20 16 29 25 12 1 1 Principal repayments 1 3 10 13 11 20 24 12 11 13 Long-term debt 0 3 9 10 9 12 13 10 8 12 IMF repurchases 1 0 1 2 2 8 11 2 2 2 Net flows on debt -1 36 54 113 79 95 25 62 84 3 of which short-term debt 0 5 2 34 -14 4 -16 -2 9 -16 Interest payments (INT) 0 5 11 10 9 11 11 7 6 8 Long-term debt 0 2 6 7 6 8 8 5 6 7 IMF charges 0 0 0 1 2 1 1 1 1 0 Short-term debt 0 3 5 2 2 2 1 1 0 0 Net transfers on debt -1 31 43 104 69 84 14 55 77 -5 Total debt service paid (TDS) 1 8 21 22 21 31 35 18 17 21 Long-term debt 0 4 15 17 15 20 21 15 14 19 IMF repurchases and charges 1 0 1 3 4 10 13 3 3 2 Short-term debt (interest only) 0 3 5 2 2 2 1 1 0 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 10 109 206 188 285 300 247 212 264 225 Net flow of long-term debt (ex. IMF) 0 25 53 62 79 70 27 54 77 20 Foreign direct investment (net) 0 16 8 3 7 2 8 5 3 5 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 10 68 145 124 199 228 211 154 185 201 Memo: technical coop. grants 12 55 90 58 61 60 56 57 82 95 official net resource flows 10 95 200 186 278 298 238 208 262 220 private net resource flows 0 14 6 3 7 2 8 5 3 5 NET TRANSFERS 10 98 194 177 279 291 235 204 258 217 Interest on long-term debt 0 2 6 7 6 8 8 5 6 7 Profit remittances on FDI 0 9 6 4 0 1 3 3 0 0 Memo: official net transfers 10 93 194 178 272 290 230 203 256 213 private net transfers 0 4 0 -1 7 1 5 1 2 4 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 220 1,165 2,572 1,835 1,983 1,920 1,796 1,680 1,732 1,662 Exports of goods, serv. & inc. (XGS) .. 198 148 158 121 120 145 179 148 147 Worker remit. & comp. of employees 0 3 3 5 0 0 7 8 7 7 Imports of goods & services (MGS) .. 361 375 502 439 459 452 468 462 492 International reserves (RES) 8 196 44 153 169 174 191 212 244 215 Current account balance .. -52 -85 -62 -83 -141 -94 -102 -126 -192 4. DEBT INDICATORS EDT / XGS (%) .. 95.9 481.1 705.7 1,013.0 1,077.9 877.0 718.8 970.8 1,044.7 EDT / GNI (%) 2.2 16.3 27.7 60.6 61.9 67.4 70.9 76.5 83.0 92.7 TDS / XGS (%) .. 3.8 14.2 14.1 17.1 26.2 24.1 10.3 11.5 14.4 INT / XGS (%) .. 2.5 7.6 6.1 7.8 9.5 7.7 3.7 4.4 5.3 INT / GNI (%) 0.0 0.4 0.4 0.5 0.5 0.6 0.6 0.4 0.4 0.5 RES / EDT (%) 157.8 103.3 6.2 13.8 13.7 13.5 15.0 16.5 17.0 13.9 RES / MGS (months) .. 6.5 1.4 3.7 4.6 4.6 5.1 5.4 6.3 5.2 Short-term / EDT (%) 0.0 13.7 6.6 6.9 4.0 4.2 3.0 2.8 3.2 2.0 Concessional / EDT (%) 31.0 74.4 92.6 88.7 90.9 89.7 90.1 90.5 90.8 92.0 Multilateral / EDT (%) 1.3 47.8 76.2 76.6 78.3 78.1 78.4 79.1 80.5 82.4 437 RWANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 2 150 664 996 1,122 1,164 1,148 1,165 1,307 1,418 Public and publicly guaranteed 2 150 664 996 1,122 1,164 1,148 1,165 1,307 1,418 Official creditors 2 143 661 994 1,121 1,162 1,147 1,164 1,305 1,416 Multilateral 0 91 542 852 961 1,010 997 1,016 1,157 1,269 Concessional 0 90 541 852 961 1,010 997 1,016 1,157 1,269 Bilateral 1 52 119 142 159 152 150 147 148 147 Concessional 1 51 118 136 155 150 150 147 148 147 Private creditors 0 8 4 1 1 1 1 1 1 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 0 8 4 1 1 1 1 1 1 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 58 340 558 639 691 692 713 826 909 DISBURSEMENTS 0 27 62 72 88 82 40 64 85 31 Public and publicly guaranteed 0 27 62 72 88 82 40 64 85 31 Official creditors 0 27 62 72 88 82 40 64 85 31 Multilateral 0 21 37 67 88 82 40 64 85 31 Concessional 0 20 37 67 88 82 40 64 85 31 Bilateral 0 7 26 5 0 0 0 0 0 0 Concessional 0 7 25 3 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 22 53 67 69 37 53 73 24 PRINCIPAL REPAYMENTS 0 3 9 10 9 12 13 10 8 12 Public and publicly guaranteed 0 3 9 10 9 12 13 10 8 12 Official creditors 0 0 7 10 9 12 13 10 8 12 Multilateral 0 0 5 8 7 10 10 6 3 4 Concessional 0 0 5 8 7 10 10 6 3 4 Bilateral 0 0 2 2 2 2 2 4 5 8 Concessional 0 0 2 1 0 1 1 4 5 8 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 5 5 6 6 3 0 0 NET FLOWS ON DEBT 0 25 53 62 79 70 27 54 77 20 Public and publicly guaranteed 0 25 53 62 79 70 27 54 77 20 Official creditors 0 27 55 62 79 70 27 54 77 20 Multilateral 0 20 32 59 81 72 29 58 82 28 Concessional 0 20 32 59 81 72 29 58 82 28 Bilateral 0 7 23 3 -2 -2 -2 -4 -5 -8 Concessional 0 7 22 2 0 -1 -1 -4 -5 -8 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 48 62 63 31 50 73 24 438 RWANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 2 6 7 6 8 8 5 6 7 Public and publicly guaranteed 0 2 6 7 6 8 8 5 6 7 Official creditors 0 1 6 7 6 8 8 5 6 7 Multilateral 0 1 4 7 6 7 7 3 4 5 Concessional 0 1 4 7 6 7 7 3 4 5 Bilateral 0 0 1 0 0 1 1 2 2 2 Concessional 0 0 1 0 0 1 1 2 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 5 5 3 2 3 NET TRANSFERS ON DEBT 0 23 47 55 73 62 19 49 71 13 Public and publicly guaranteed 0 23 47 55 73 62 19 49 71 13 Official creditors 0 26 49 55 73 62 19 49 71 13 Multilateral 0 20 28 52 75 65 22 55 78 22 Concessional 0 19 28 52 75 65 22 55 78 22 Bilateral 0 6 22 3 -2 -3 -3 -6 -7 -10 Concessional 0 6 21 2 -1 -2 -2 -6 -7 -10 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 43 57 59 26 47 71 20 DEBT SERVICE (LTDS) 0 4 15 17 15 20 21 15 14 19 Public and publicly guaranteed 0 4 15 17 15 20 21 15 14 19 Official creditors 0 2 13 17 15 20 21 15 14 19 Multilateral 0 1 9 15 13 17 18 9 7 9 Concessional 0 1 9 15 13 17 18 9 7 9 Bilateral 0 0 4 2 2 3 3 6 7 10 Concessional 0 0 4 1 1 2 2 6 7 10 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 10 9 11 11 6 2 4 UNDISBURSED DEBT 10 110 465 254 226 243 242 317 353 361 Official creditors 10 110 459 254 226 243 242 317 353 361 Private creditors 0 0 6 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 2 141 659 987 1,117 1,160 1,147 1,163 1,305 1,416 Variable rate LDOD 0 0 0 0 0 0 0 0 0 0 Public sector LDOD 2 150 664 996 1,122 1,164 1,148 1,165 1,307 1,418 Private sector LDOD 0 0 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 7.5 7.2 7.2 Deutsche mark 46.6 0.8 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc 0.0 7.3 3.9 7.7 6.0 5.2 4.8 .. .. .. Japanese yen 0.0 4.5 1.5 1.0 0.6 0.6 0.4 0.3 0.2 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 50.7 55.2 58.3 60.1 61.8 63.4 63.9 Multiple currency 0.0 5.9 14.9 10.5 9.6 8.8 8.4 7.9 7.4 7.3 Special drawing rights 0.0 0.0 6.2 3.8 3.5 3.3 3.1 2.9 2.7 2.7 All other currencies 42.9 33.5 34.8 26.4 25.2 23.9 23.1 19.6 19.0 18.7 439 RWANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 0 33 5 7 5 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 17 4 3 1 0 0 Official .. .. 0 0 17 4 3 1 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 0 0 15 1 1 0 0 0 Official .. .. 0 0 15 1 1 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 0 0 1 0 0 11 14 16 Memo: interest forgiven .. .. 0 0 1 0 0 5 5 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 .. .. 88 67 115 66 -21 12 152 103 Net flows on debt -1 36 54 113 79 95 25 62 84 3 Net change in interest arrears .. .. 0 9 -13 1 1 0 1 1 Interest capitalized .. .. 0 0 15 1 1 0 0 0 Debt forgiveness or reduction .. .. 0 0 -1 0 0 -11 -14 -16 Cross-currency valuation .. .. 9 -77 -13 -27 -37 -30 61 69 Residual .. .. 24 22 48 -4 -10 -9 21 47 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.8 1.5 1.4 0.4 0.5 0.8 0.8 0.8 0.8 1.0 Maturity (years) 50.0 39.4 33.9 41.0 42.7 43.1 39.7 40.4 39.8 45.0 Grace period (years) 10.5 8.7 9.0 10.3 10.2 10.2 10.2 10.9 10.3 9.4 Grant element (%) 83.4 70.1 70.6 83.8 83.7 81.4 80.5 80.4 80.6 78.3 Official creditors Interest (%) 0.8 1.5 1.4 0.4 0.5 0.8 0.8 0.8 0.8 1.0 Maturity (years) 50.0 39.4 33.9 41.0 42.7 43.1 39.7 40.4 39.8 45.0 Grace period (years) 10.5 8.7 9.0 10.3 10.2 10.2 10.2 10.9 10.3 9.4 Grant element (%) 83.4 70.1 70.6 83.8 83.7 81.4 80.5 80.4 80.6 78.3 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 57 76 121 55 155 110 44 Official creditors 9 48 72 57 76 121 55 155 110 44 Private creditors 0 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 47 59 98 44 35 23 16 10 6 3 Principal 34 34 34 34 36 40 40 43 46 49 Interest 12 12 12 12 12 12 11 11 11 10 Official creditors Disbursements 47 59 98 44 35 23 16 10 6 3 Principal 34 34 34 34 36 40 40 43 46 49 Interest 12 12 12 12 12 12 11 11 11 10 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 9 8 6 5 5 5 5 4 4 5 Interest 2 2 2 2 1 1 1 1 1 1 Multilateral creditors Disbursements 47 59 98 44 35 23 16 10 6 3 Principal 25 27 28 29 31 35 35 38 42 44 Interest 10 10 10 10 10 10 10 10 10 9 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 0 440 SAMOA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2.7 60.2 92.0 156.4 180.1 192.4 197.4 204.3 234.4 365.2 Long-term debt (LDOD) 2.7 53.4 91.0 148.3 154.3 156.6 147.3 143.3 156.8 169.5 Public and publicly guaranteed 2.7 53.4 91.0 148.3 154.3 156.6 147.3 143.3 156.8 169.5 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 8.0 25.8 35.8 50.1 61.0 77.6 195.7 of which interest arrears on LDOD 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 TOTAL DEBT FLOWS Disbursements 2.4 11.2 15.4 2.7 3.2 0.0 6.7 3.3 2.8 5.0 Long-term debt 2.4 10.5 15.4 2.7 3.2 0.0 6.7 3.3 2.8 5.0 IMF purchases 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments 0.1 2.8 4.1 3.2 2.8 3.3 4.2 3.5 3.5 4.2 Long-term debt 0.1 2.3 3.3 3.2 2.8 3.3 4.2 3.5 3.5 4.2 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 3.4 18.2 6.8 16.8 10.7 15.8 118.9 of which short-term debt 0.0 0.0 0.1 3.9 17.8 10.1 14.3 10.9 16.6 118.1 Interest payments (INT) 0.0 2.7 1.3 1.8 2.3 3.2 4.3 3.9 4.3 8.9 Long-term debt 0.0 2.3 1.2 1.5 1.4 1.4 1.4 1.3 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 0.8 1.7 2.9 2.6 3.0 7.5 Net transfers on debt 2.3 5.7 9.9 1.6 15.9 3.6 12.5 6.8 11.6 110.0 Total debt service paid (TDS) 0.1 5.5 5.5 5.0 5.1 6.5 8.5 7.4 7.8 13.1 Long-term debt 0.1 4.6 4.4 4.7 4.2 4.8 5.6 4.8 4.8 5.6 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 0.8 1.7 2.9 2.6 3.0 7.5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 2.3 17.0 38.9 27.1 15.3 4.4 5.8 20.9 16.9 10.1 Net flow of long-term debt (ex. IMF) 2.3 8.2 12.1 -0.5 0.4 -3.3 2.5 -0.2 -0.7 0.8 Foreign direct investment (net) 0.0 0.0 6.6 20.0 3.0 2.0 -1.5 1.2 -0.1 -0.1 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 7.6 11.9 5.8 4.9 19.9 17.8 9.4 Memo: technical coop. grants 0.9 9.8 13.5 21.1 19.6 19.1 17.6 17.3 20.6 20.9 official net resource flows 2.4 18.9 32.3 7.1 12.3 2.4 7.3 19.7 17.0 10.2 private net resource flows -0.1 -1.8 6.6 20.0 3.0 2.0 -1.5 1.2 -0.1 -0.1 NET TRANSFERS 2.3 14.8 37.7 25.6 13.9 2.4 4.4 19.6 15.6 8.8 Interest on long-term debt 0.0 2.3 1.2 1.5 1.4 1.4 1.4 1.3 1.3 1.3 Profit remittances on FDI 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 0.0 0.0 Memo: official net transfers 2.4 17.5 31.2 5.6 10.9 1.0 5.9 18.4 15.7 8.9 private net transfers -0.1 -2.7 6.5 20.0 3.0 1.4 -1.5 1.2 -0.1 -0.1 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 164.3 244.5 232.3 235.0 241.1 235.0 240.8 264.6 Exports of goods, serv. & inc. (XGS) .. 44.4 94.1 130.5 129.1 126.9 .. .. .. .. Worker remit. & comp. of employees 0.0 19.0 43.0 47.0 42.0 45.0 45.0 45.0 45.0 45.0 Imports of goods & services (MGS) .. 74.3 96.5 144.3 128.4 142.6 .. .. .. .. International reserves (RES) 5.2 2.8 69.0 64.2 61.4 68.2 63.7 56.6 62.5 83.9 Current account balance .. -12.9 8.6 9.1 20.1 -18.8 .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 135.5 97.7 119.8 139.4 151.6 .. .. .. .. EDT / GNI (%) .. .. 56.0 64.0 77.5 81.9 81.9 87.0 97.3 138.0 TDS / XGS (%) .. 12.3 5.8 3.8 3.9 5.1 .. .. .. .. INT / XGS (%) .. 6.0 1.4 1.4 1.7 2.5 .. .. .. .. INT / GNI (%) .. .. 0.8 0.7 1.0 1.3 1.8 1.6 1.8 3.3 RES / EDT (%) 194.6 4.6 75.1 41.1 34.1 35.4 32.2 27.7 26.7 23.0 RES / MGS (months) .. 0.4 8.6 5.3 5.7 5.7 .. .. .. .. Short-term / EDT (%) 0.0 1.7 0.2 5.1 14.3 18.6 25.4 29.9 33.1 53.6 Concessional / EDT (%) 89.5 56.2 90.5 91.9 83.3 79.7 73.4 69.2 66.1 45.9 Multilateral / EDT (%) 89.5 54.2 88.2 88.3 80.2 76.5 70.0 63.3 60.8 42.6 441 SAMOA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 2.7 53.4 91.0 148.3 154.3 156.6 147.3 143.3 156.8 169.5 Public and publicly guaranteed 2.7 53.4 91.0 148.3 154.3 156.6 147.3 143.3 156.8 169.5 Official creditors 2.4 45.1 89.6 148.3 154.3 156.6 147.3 143.3 156.8 169.5 Multilateral 2.4 32.7 81.1 138.0 144.4 147.3 138.2 129.3 142.5 155.5 Concessional 2.4 32.7 76.5 133.3 140.0 144.0 135.8 127.4 140.6 153.7 Bilateral 0.0 12.5 8.5 10.3 10.0 9.3 9.1 14.0 14.2 14.0 Concessional 0.0 1.2 6.7 10.3 10.0 9.3 9.1 14.0 14.2 14.0 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 41.8 45.3 44.2 47.3 47.9 51.4 57.6 DISBURSEMENTS 2.4 10.5 15.4 2.7 3.2 0.0 6.7 3.3 2.8 5.0 Public and publicly guaranteed 2.4 10.5 15.4 2.7 3.2 0.0 6.7 3.3 2.8 5.0 Official creditors 2.4 10.5 15.4 2.7 3.2 0.0 6.7 3.3 2.8 5.0 Multilateral 2.4 10.5 15.0 2.6 3.2 0.0 6.0 3.3 2.1 5.0 Concessional 2.4 10.5 14.7 2.6 3.2 0.0 6.0 3.3 2.1 5.0 Bilateral 0.0 0.0 0.4 0.0 0.0 0.0 0.7 0.0 0.7 0.0 Concessional 0.0 0.0 0.4 0.0 0.0 0.0 0.7 0.0 0.7 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 2.0 3.5 0.8 2.5 0.0 5.7 3.0 1.3 3.0 PRINCIPAL REPAYMENTS 0.1 2.3 3.3 3.2 2.8 3.3 4.2 3.5 3.5 4.2 Public and publicly guaranteed 0.1 2.3 3.3 3.2 2.8 3.3 4.2 3.5 3.5 4.2 Official creditors 0.0 0.5 3.3 3.2 2.8 3.3 4.2 3.5 3.5 4.2 Multilateral 0.0 0.3 2.2 2.9 2.5 2.7 3.3 3.1 3.0 3.9 Concessional 0.0 0.3 2.0 2.3 1.9 2.1 2.8 2.7 2.7 3.4 Bilateral 0.0 0.1 1.0 0.3 0.3 0.6 0.9 0.4 0.5 0.3 Concessional 0.0 0.0 0.0 0.3 0.3 0.6 0.9 0.4 0.5 0.3 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 0.4 0.7 0.9 0.9 1.0 NET FLOWS ON DEBT 2.3 8.2 12.1 -0.5 0.4 -3.3 2.5 -0.2 -0.7 0.8 Public and publicly guaranteed 2.3 8.2 12.1 -0.5 0.4 -3.3 2.5 -0.2 -0.7 0.8 Official creditors 2.4 10.0 12.1 -0.5 0.4 -3.3 2.5 -0.2 -0.7 0.8 Multilateral 2.4 10.2 12.8 -0.2 0.7 -2.7 2.7 0.2 -1.0 1.1 Concessional 2.4 10.2 12.7 0.4 1.3 -2.1 3.2 0.6 -0.6 1.6 Bilateral 0.0 -0.1 -0.7 -0.3 -0.3 -0.6 -0.2 -0.4 0.2 -0.3 Concessional 0.0 0.0 0.3 -0.3 -0.3 -0.6 -0.2 -0.4 0.2 -0.3 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 0.5 2.2 -0.4 5.0 2.1 0.4 2.0 442 SAMOA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.0 2.3 1.2 1.5 1.4 1.4 1.4 1.3 1.3 1.3 Public and publicly guaranteed 0.0 2.3 1.2 1.5 1.4 1.4 1.4 1.3 1.3 1.3 Official creditors 0.0 1.4 1.1 1.5 1.4 1.4 1.4 1.3 1.3 1.3 Multilateral 0.0 0.3 0.7 1.4 1.3 1.4 1.3 1.3 1.2 1.3 Concessional 0.0 0.3 0.7 1.3 1.2 1.3 1.3 1.2 1.2 1.3 Bilateral 0.0 1.1 0.4 0.1 0.1 0.1 0.0 0.1 0.1 0.0 Concessional 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.0 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 0.4 0.4 NET TRANSFERS ON DEBT 2.3 5.9 10.9 -2.0 -1.0 -4.8 1.1 -1.5 -2.0 -0.5 Public and publicly guaranteed 2.3 5.9 10.9 -2.0 -1.0 -4.8 1.1 -1.5 -2.0 -0.5 Official creditors 2.4 8.6 11.0 -2.0 -1.0 -4.8 1.1 -1.5 -2.0 -0.5 Multilateral 2.4 9.9 12.0 -1.6 -0.6 -4.1 1.3 -1.1 -2.2 -0.2 Concessional 2.4 9.9 12.0 -1.0 0.1 -3.4 1.9 -0.6 -1.8 0.3 Bilateral 0.0 -1.3 -1.1 -0.4 -0.4 -0.7 -0.3 -0.4 0.1 -0.3 Concessional 0.0 -0.1 0.2 -0.4 -0.4 -0.7 -0.3 -0.4 0.1 -0.3 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 0.2 1.9 -0.7 4.7 1.7 0.0 1.6 DEBT SERVICE (LTDS) 0.1 4.6 4.4 4.7 4.2 4.8 5.6 4.8 4.8 5.6 Public and publicly guaranteed 0.1 4.6 4.4 4.7 4.2 4.8 5.6 4.8 4.8 5.6 Official creditors 0.0 1.9 4.4 4.7 4.2 4.8 5.6 4.8 4.8 5.6 Multilateral 0.0 0.6 3.0 4.3 3.8 4.1 4.6 4.4 4.3 5.2 Concessional 0.0 0.6 2.7 3.6 3.1 3.4 4.1 3.9 3.9 4.7 Bilateral 0.0 1.3 1.4 0.4 0.4 0.7 1.0 0.4 0.6 0.4 Concessional 0.0 0.1 0.1 0.4 0.4 0.7 1.0 0.4 0.6 0.4 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 0.7 1.0 1.3 1.3 1.4 UNDISBURSED DEBT 0.3 24.9 56.7 5.9 2.4 16.6 21.0 20.4 25.4 27.4 Official creditors 0.3 24.9 56.7 5.9 2.4 16.6 21.0 20.4 25.4 27.4 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 83.3 143.6 150.0 153.3 144.8 141.4 154.8 167.7 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 91.0 148.3 154.3 156.6 147.3 143.3 156.8 169.5 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 2.3 Deutsche mark 0.0 12.0 1.7 0.0 0.0 0.0 0.0 .. .. .. French franc 0.0 0.0 0.1 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 34.9 35.6 34.3 38.3 39.0 38.9 41.3 Multiple currency 0.0 12.8 43.9 41.3 40.9 43.8 40.4 36.7 37.9 36.3 Special drawing rights 0.0 0.0 1.3 12.8 13.3 13.0 12.9 12.6 12.6 12.7 All other currencies 0.0 21.1 14.4 10.7 10.0 8.7 8.2 9.2 8.2 7.4 443 SAMOA (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 0.0 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 -10.6 23.7 12.3 5.0 6.9 30.0 130.9 Net flows on debt 2.3 8.4 11.3 3.4 18.2 6.8 16.8 10.7 15.8 118.9 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 -15.4 3.6 0.1 -10.2 -7.6 12.6 17.1 Residual .. .. 1.1 1.5 2.0 5.4 -1.5 3.8 1.6 -5.1 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.7 0.4 0.8 0.0 0.0 0.8 1.1 1.4 1.4 0.8 Maturity (years) 20.0 40.2 39.8 0.0 0.0 39.8 35.1 31.2 31.6 39.8 Grace period (years) 6.0 15.7 10.3 0.0 0.0 10.3 9.0 7.7 8.1 10.3 Grant element (%) 36.4 84.9 80.5 0.0 0.0 80.7 74.5 69.4 69.9 80.6 Official creditors Interest (%) 4.7 0.4 0.8 0.0 0.0 0.8 1.1 1.4 1.4 0.8 Maturity (years) 20.0 40.2 39.8 0.0 0.0 39.8 35.1 31.2 31.6 39.8 Grace period (years) 6.0 15.7 10.3 0.0 0.0 10.3 9.0 7.7 8.1 10.3 Grant element (%) 36.4 84.9 80.5 0.0 0.0 80.7 74.5 69.4 69.9 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 1 12 15 0 0 14 12 3 6 4 Official creditors 1 12 15 0 0 14 12 3 6 4 Private creditors 0 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 5.5 5.6 5.3 4.4 2.9 1.4 0.8 0.7 0.4 0.3 Principal 6.6 6.7 6.9 7.0 7.4 7.4 6.6 7.2 7.2 7.4 Interest 1.5 1.5 1.4 1.4 1.4 1.4 1.4 1.3 1.3 1.2 Official creditors Disbursements 5.5 5.6 5.3 4.4 2.9 1.4 0.8 0.7 0.4 0.3 Principal 6.6 6.7 6.9 7.0 7.4 7.4 6.6 7.2 7.2 7.4 Interest 1.5 1.5 1.4 1.4 1.4 1.4 1.4 1.3 1.3 1.2 Bilateral creditors Disbursements 0.2 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 Principal 2.1 2.1 2.1 2.0 2.0 2.0 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 Multilateral creditors Disbursements 5.3 5.5 5.2 4.3 2.8 1.4 0.8 0.7 0.4 0.3 Principal 4.5 4.6 4.8 5.0 5.3 5.3 6.3 7.0 7.0 7.2 Interest 1.5 1.4 1.4 1.4 1.4 1.4 1.4 1.3 1.3 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 0.0 444 SAO TOME AND PRINCIPE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 23.5 150.0 236.9 256.9 319.6 315.1 312.8 333.4 337.5 Long-term debt (LDOD) .. 23.5 132.9 226.0 242.8 290.2 293.6 293.4 307.9 326.1 Public and publicly guaranteed .. 23.5 132.9 226.0 242.8 290.2 293.6 293.4 307.9 326.1 Private nonguaranteed .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Use of IMF credit .. 0.0 1.1 0.3 0.1 0.0 2.5 2.4 2.6 2.8 Short-term debt .. 0.0 16.0 10.6 14.0 29.3 19.0 16.9 22.9 8.6 of which interest arrears on LDOD .. 0.0 7.6 6.6 9.0 17.3 7.0 6.9 7.9 8.6 Official creditors .. 0.0 7.4 6.6 9.0 17.3 7.0 6.9 7.9 8.6 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 20.4 29.2 65.9 47.6 47.3 43.4 45.2 Official creditors .. 0.0 20.4 20.4 29.2 65.9 47.6 47.3 43.4 45.2 Private creditors .. 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements .. 9.9 15.6 5.1 6.6 16.1 11.1 8.3 3.9 4.4 Long-term debt .. 9.9 15.6 5.1 6.6 16.1 8.6 8.3 3.9 4.4 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 2.5 0.0 0.0 0.0 Principal repayments .. 0.9 1.1 1.9 2.2 2.7 2.2 1.7 2.3 3.8 Long-term debt .. 0.9 1.1 1.6 2.0 2.6 2.2 1.7 2.3 3.8 IMF repurchases .. 0.0 0.0 0.2 0.2 0.1 0.0 0.0 0.0 0.0 Net flows on debt .. 7.0 9.2 5.2 5.4 20.4 8.9 4.6 6.5 -14.4 of which short-term debt .. -2.0 -5.3 2.0 1.0 7.0 0.0 -2.0 5.0 -15.0 Interest payments (INT) .. 0.3 1.7 1.7 1.6 1.7 2.1 2.4 2.5 2.8 Long-term debt .. 0.2 1.2 1.5 1.3 1.4 1.2 1.8 2.1 2.6 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 0.5 0.2 0.3 0.3 0.9 0.5 0.3 0.2 Net transfers on debt .. 6.7 7.4 3.4 3.8 18.7 6.8 2.2 4.0 -17.2 Total debt service paid (TDS) .. 1.2 2.8 3.6 3.8 4.4 4.3 4.1 4.8 6.6 Long-term debt .. 1.1 2.3 3.2 3.3 4.0 3.4 3.5 4.5 6.5 IMF repurchases and charges .. 0.0 0.0 0.2 0.2 0.1 0.0 0.0 0.0 0.0 Short-term debt (interest only) .. 0.1 0.5 0.2 0.3 0.3 0.9 0.5 0.3 0.2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 11.7 41.1 19.8 19.8 25.8 23.6 24.1 16.2 30.4 Net flow of long-term debt (ex. IMF) .. 9.0 14.4 3.4 4.7 13.5 6.4 6.6 1.5 0.6 Foreign direct investment (net) .. 0.0 0.0 0.0 4.2 3.0 3.8 3.5 3.0 10.0 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 16.4 10.9 9.3 13.3 14.1 11.7 19.8 Memo: technical coop. grants .. 1.3 7.0 13.0 12.4 15.0 11.9 10.5 11.8 12.7 official net resource flows .. 11.7 41.3 19.8 15.6 22.8 19.8 20.6 13.2 20.4 private net resource flows .. 0.0 -0.1 0.0 4.2 3.0 3.8 3.5 3.0 10.0 NET TRANSFERS .. 11.5 39.9 18.3 18.5 24.4 22.3 22.3 14.1 27.7 Interest on long-term debt .. 0.2 1.2 1.5 1.3 1.4 1.2 1.8 2.1 2.6 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 18.3 14.3 21.4 18.5 18.8 11.1 17.7 private net transfers .. 0.0 -0.2 0.0 4.2 3.0 3.8 3.5 3.0 10.0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 49.2 52.5 39.1 35.8 42.2 43.5 43.3 46.4 50.2 Exports of goods, serv. & inc. (XGS) .. 23.3 8.2 .. 11.8 16.9 16.7 16.7 19.2 21.3 Worker remit. & comp. of employees .. 1.0 0.0 0.0 1.0 1.0 0.0 1.0 1.0 1.0 Imports of goods & services (MGS) .. 22.0 22.4 .. 32.4 39.1 39.7 41.1 46.2 49.4 International reserves (RES) .. .. .. 12.4 9.7 10.9 11.6 15.5 17.4 25.5 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 1,586.7 EDT / GNI (%) .. 47.6 286.0 606.1 717.5 756.4 724.2 722.3 717.9 671.7 TDS / XGS (%) .. 5.0 34.4 .. 32.1 25.8 25.8 24.3 25.2 31.2 INT / XGS (%) .. 1.1 20.7 .. 13.6 9.8 12.7 14.1 13.1 13.3 INT / GNI (%) .. 0.5 3.3 4.5 4.5 3.9 4.9 5.4 5.4 5.6 RES / EDT (%) .. .. .. 5.2 3.8 3.4 3.7 5.0 5.2 7.5 RES / MGS (months) .. .. .. .. 3.6 3.3 3.5 4.5 4.5 6.2 Short-term / EDT (%) .. 0.0 10.7 4.5 5.5 9.2 6.0 5.4 6.9 2.6 Concessional / EDT (%) .. 83.6 71.7 92.4 91.9 88.8 88.3 88.4 86.6 90.4 Multilateral / EDT (%) .. 45.0 48.4 63.6 65.1 53.2 53.7 54.0 55.3 59.2 445 SAO TOME AND PRINCIPE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 23.5 132.9 226.0 242.8 290.2 293.6 293.4 307.9 326.1 Public and publicly guaranteed .. 23.5 132.9 226.0 242.8 290.2 293.6 293.4 307.9 326.1 Official creditors .. 23.1 131.7 226.0 242.8 290.2 293.6 293.4 307.9 326.1 Multilateral .. 10.6 72.6 150.7 167.2 170.0 169.3 168.8 184.5 200.0 Concessional .. 10.6 69.1 149.2 165.9 168.7 165.6 164.7 179.7 194.6 Bilateral .. 12.6 59.2 75.3 75.6 120.2 124.3 124.6 123.4 126.1 Concessional .. 9.1 38.6 69.6 70.2 115.1 112.5 111.9 108.9 110.4 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 57.4 61.3 60.7 58.9 61.0 65.6 71.4 DISBURSEMENTS .. 9.9 15.6 5.1 6.6 16.1 8.6 8.3 3.9 4.4 Public and publicly guaranteed .. 9.9 15.6 5.1 6.6 16.1 8.6 8.3 3.9 4.4 Official creditors .. 9.9 15.6 5.1 6.6 16.1 8.6 8.3 3.9 4.4 Multilateral .. 6.5 12.8 5.1 6.4 15.5 8.4 8.1 3.1 4.4 Concessional .. 6.5 11.7 5.1 6.4 11.0 5.8 7.2 2.9 4.4 Bilateral .. 3.4 2.7 0.0 0.2 0.6 0.2 0.2 0.7 0.0 Concessional .. 1.4 2.7 0.0 0.2 0.6 0.2 0.2 0.7 0.0 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 5.4 1.5 1.9 1.0 1.7 5.0 0.9 0.7 PRINCIPAL REPAYMENTS .. 0.9 1.1 1.6 2.0 2.6 2.2 1.7 2.3 3.8 Public and publicly guaranteed .. 0.9 1.1 1.6 2.0 2.6 2.2 1.7 2.3 3.8 Official creditors .. 0.9 1.0 1.6 2.0 2.6 2.2 1.7 2.3 3.8 Multilateral .. 0.0 0.4 1.3 1.4 1.7 1.9 1.6 1.6 2.1 Concessional .. 0.0 0.4 1.2 1.2 1.5 1.6 1.4 1.4 1.7 Bilateral .. 0.9 0.6 0.3 0.5 0.9 0.3 0.1 0.7 1.7 Concessional .. 0.2 0.0 0.0 0.2 0.5 0.0 0.1 0.4 1.5 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 0.2 0.2 0.2 0.5 0.2 0.0 0.1 NET FLOWS ON DEBT .. 9.0 14.4 3.4 4.7 13.5 6.4 6.6 1.5 0.6 Public and publicly guaranteed .. 9.0 14.4 3.4 4.7 13.5 6.4 6.6 1.5 0.6 Official creditors .. 9.0 14.6 3.4 4.7 13.5 6.4 6.6 1.5 0.6 Multilateral .. 6.5 12.4 3.8 5.0 13.7 6.6 6.5 1.5 2.3 Concessional .. 6.5 11.3 3.9 5.2 9.5 4.2 5.8 1.5 2.7 Bilateral .. 2.5 2.2 -0.3 -0.3 -0.3 -0.1 0.1 0.0 -1.7 Concessional .. 1.2 2.7 0.0 0.0 0.1 0.2 0.1 0.3 -1.5 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 1.3 1.7 0.7 1.3 4.8 0.9 0.6 446 SAO TOME AND PRINCIPE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 0.2 1.2 1.5 1.3 1.4 1.2 1.8 2.1 2.6 Public and publicly guaranteed .. 0.2 1.2 1.5 1.3 1.4 1.2 1.8 2.1 2.6 Official creditors .. 0.2 1.1 1.5 1.3 1.4 1.2 1.8 2.1 2.6 Multilateral .. 0.0 0.3 1.0 1.2 1.2 1.2 0.5 0.9 1.0 Concessional .. 0.0 0.3 1.0 1.2 1.2 1.2 0.5 0.8 0.9 Bilateral .. 0.2 0.9 0.6 0.1 0.2 0.0 1.4 1.3 1.7 Concessional .. 0.0 0.1 0.6 0.1 0.2 0.0 0.8 0.9 1.3 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 0.1 0.4 0.4 0.4 0.5 0.2 0.0 0.2 NET TRANSFERS ON DEBT .. 8.8 13.2 1.9 3.3 12.1 5.2 4.7 -0.6 -2.1 Public and publicly guaranteed .. 8.8 13.2 1.9 3.3 12.1 5.2 4.7 -0.6 -2.1 Official creditors .. 8.8 13.4 1.9 3.3 12.1 5.2 4.7 -0.6 -2.1 Multilateral .. 6.5 12.1 2.8 3.8 12.5 5.3 6.0 0.6 1.3 Concessional .. 6.5 11.0 3.0 4.0 8.3 3.0 5.3 0.7 1.8 Bilateral .. 2.4 1.3 -0.9 -0.5 -0.4 -0.1 -1.3 -1.2 -3.4 Concessional .. 1.2 2.7 -0.6 -0.1 -0.1 0.2 -0.8 -0.6 -2.7 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 0.9 1.3 0.3 0.8 4.6 0.9 0.4 DEBT SERVICE (LTDS) .. 1.1 2.3 3.2 3.3 4.0 3.4 3.5 4.5 6.5 Public and publicly guaranteed .. 1.1 2.3 3.2 3.3 4.0 3.4 3.5 4.5 6.5 Official creditors .. 1.1 2.2 3.2 3.3 4.0 3.4 3.5 4.5 6.5 Multilateral .. 0.0 0.7 2.3 2.6 2.9 3.1 2.1 2.5 3.1 Concessional .. 0.0 0.7 2.1 2.4 2.7 2.9 1.8 2.2 2.6 Bilateral .. 1.1 1.4 0.9 0.7 1.0 0.3 1.5 1.9 3.4 Concessional .. 0.2 0.1 0.6 0.3 0.7 0.0 0.9 1.3 2.7 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 0.6 0.7 0.6 0.9 0.4 0.0 0.3 UNDISBURSED DEBT .. 32.1 87.5 50.4 45.2 25.4 32.8 35.9 35.7 39.3 Official creditors .. 32.1 87.5 50.4 45.2 25.4 32.8 35.9 35.7 39.3 Private creditors .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. 19.6 107.6 218.8 236.1 283.8 278.1 276.6 288.6 305.0 Variable rate LDOD .. 0.0 0.0 0.0 0.0 0.0 7.1 8.0 10.5 11.7 Public sector LDOD .. 23.5 132.9 226.0 242.8 290.2 293.6 293.4 307.9 326.1 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 .. .. .. .. .. .. .. 3.8 4.6 5.2 Deutsche mark .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc .. 0.0 4.0 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 4.7 4.5 4.4 5.1 5.4 U.S.dollars .. 63.1 39.3 44.8 43.0 43.4 43.5 44.5 44.8 43.2 Multiple currency .. 0.0 43.6 46.0 45.6 38.2 36.4 35.2 35.7 36.1 Special drawing rights .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 All other currencies .. 36.9 13.2 5.7 8.0 11.4 13.4 12.1 9.8 10.1 447 SAO TOME AND PRINCIPE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0.0 11.2 0.0 7.8 23.5 1.7 3.5 1.7 Debt stock rescheduled .. .. 0.0 2.1 0.0 7.3 2.4 0.0 0.0 0.0 Principal rescheduled .. .. 0.0 2.6 0.0 8.3 13.7 0.7 2.4 1.0 Official .. .. 0.0 2.6 0.0 8.3 13.7 0.7 2.4 1.0 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 0.2 9.8 1.0 1.0 0.4 Official .. .. 0.0 0.0 0.0 0.2 9.8 1.0 1.0 0.4 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 4.8 1.4 2.1 2.1 Memo: interest forgiven .. .. 0.0 0.0 0.0 0.0 1.7 1.0 0.8 0.5 Debt stock reduction .. .. 0.0 0.0 0.0 0.0 4.8 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 .. .. 15.6 2.8 20.0 62.6 -4.5 -2.3 20.6 4.1 Net flows on debt .. 7.0 9.2 5.2 5.4 20.4 8.9 4.6 6.5 -14.4 Net change in interest arrears .. .. 1.3 0.8 2.5 8.3 -10.3 -0.1 1.0 0.7 Interest capitalized .. .. 0.0 0.0 0.0 0.2 9.8 1.0 1.0 0.4 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 -9.7 -1.4 -2.1 -2.1 Cross-currency valuation .. .. 2.3 -7.5 -3.2 7.9 -7.6 -7.6 2.2 7.6 Residual .. .. 2.9 4.4 15.3 25.9 4.4 1.2 12.1 12.0 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 4.0 0.8 1.6 2.1 0.0 1.0 0.8 0.9 0.8 Maturity (years) .. 11.1 35.8 38.1 12.8 0.0 39.5 41.1 20.8 49.9 Grace period (years) .. 4.4 10.1 8.6 4.4 0.0 9.6 11.3 7.8 10.4 Grant element (%) .. 31.5 76.6 68.1 41.2 0.0 77.3 81.1 63.6 83.3 Official creditors Interest (%) .. 4.0 0.8 1.6 2.1 0.0 1.0 0.8 0.9 0.8 Maturity (years) .. 11.1 35.8 38.1 12.8 0.0 39.5 41.1 20.8 49.9 Grace period (years) .. 4.4 10.1 8.6 4.4 0.0 9.6 11.3 7.8 10.4 Grant element (%) .. 31.5 76.6 68.1 41.2 0.0 77.3 81.1 63.6 83.3 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 9 0 0 17 12 2 5 Official creditors .. 8 36 9 0 0 17 12 2 5 Private creditors .. 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 10.7 8.3 5.7 3.7 2.3 1.4 1.1 0.4 0.0 0.0 Principal 8.9 10.2 10.3 11.1 11.8 12.0 12.0 12.2 12.9 12.6 Interest 4.0 3.9 3.8 3.6 3.5 3.4 3.2 3.0 2.9 2.7 Official creditors Disbursements 10.7 8.3 5.7 3.7 2.3 1.4 1.1 0.4 0.0 0.0 Principal 8.9 10.2 10.3 11.1 11.8 12.0 12.0 12.2 12.9 12.6 Interest 4.0 3.9 3.8 3.6 3.5 3.4 3.2 3.0 2.9 2.7 Bilateral creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 4.1 5.2 5.2 5.1 5.0 5.0 4.9 4.9 4.9 4.4 Interest 2.2 2.1 2.0 1.9 1.8 1.7 1.6 1.5 1.4 1.3 Multilateral creditors Disbursements 10.7 8.3 5.7 3.7 2.3 1.4 1.1 0.4 0.0 0.0 Principal 4.8 5.0 5.2 6.1 6.8 7.0 7.1 7.3 8.0 8.2 Interest 1.8 1.8 1.8 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 0.0 448 SENEGAL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 145 1,473 3,739 3,789 4,070 3,944 3,606 3,665 4,121 4,418 Long-term debt (LDOD) 145 1,114 3,003 3,284 3,504 3,364 3,205 3,214 3,575 4,023 Public and publicly guaranteed 114 1,105 2,943 3,229 3,482 3,350 3,192 3,163 3,541 3,983 Private nonguaranteed 31 9 60 55 22 14 13 51 33 40 Use of IMF credit 0 140 314 292 293 272 255 248 253 240 Short-term debt 0 219 421 213 273 308 147 203 294 156 of which interest arrears on LDOD 0 0 4 2 2 2 2 2 2 2 Official creditors 0 0 3 2 2 2 1 1 2 2 Private creditors 0 0 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 0 0 7 8 7 24 20 22 22 Official creditors 0 0 0 1 1 2 18 15 15 15 Private creditors 0 0 0 6 7 6 6 5 6 7 Memo: export credits 0 0 812 493 234 205 174 138 237 241 TOTAL DEBT FLOWS Disbursements 20 395 252 304 333 102 161 287 251 242 Long-term debt 20 327 223 255 284 83 142 258 240 237 IMF purchases 0 68 29 49 48 20 19 30 12 5 Principal repayments 9 165 197 160 216 162 148 147 145 164 Long-term debt 9 156 142 97 156 130 127 125 122 132 IMF repurchases 0 8 55 63 60 33 21 23 23 32 Net flows on debt 11 246 222 175 176 -25 -148 196 198 -61 of which short-term debt 0 16 167 31 60 35 -161 56 91 -138 Interest payments (INT) 2 95 128 90 107 77 77 66 75 80 Long-term debt 2 67 84 76 90 59 58 57 66 73 IMF charges 0 3 15 3 2 1 1 1 1 1 Short-term debt 0 24 29 11 15 17 17 8 7 5 Net transfers on debt 8 151 94 85 69 -102 -224 130 123 -140 Total debt service paid (TDS) 12 259 325 250 324 240 224 213 219 244 Long-term debt 12 223 226 173 246 189 185 181 189 206 IMF repurchases and charges 0 12 70 66 63 34 22 24 24 33 Short-term debt (interest only) 0 24 29 11 15 17 17 8 7 5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 32 262 692 581 454 489 331 314 395 339 Net flow of long-term debt (ex. IMF) 11 170 81 158 128 -47 15 133 117 105 Foreign direct investment (net) 5 15 57 176 71 157 72 38 80 78 Portfolio equity flows 0 0 1 8 3 3 -2 -5 3 0 Grants (excluding technical coop.) 16 77 553 238 252 376 246 148 194 156 Memo: technical coop. grants 21 123 175 154 133 126 124 141 159 205 official net resource flows 22 244 649 382 396 335 259 234 310 260 private net resource flows 10 18 43 199 58 154 73 80 85 79 NET TRANSFERS 29 161 548 488 319 356 189 184 236 186 Interest on long-term debt 2 67 84 76 90 59 58 57 66 73 Profit remittances on FDI 0 34 60 17 45 74 84 73 93 80 Memo: official net transfers 19 223 578 307 307 277 201 180 245 190 private net transfers 10 -62 -30 181 12 80 -12 4 -9 -4 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 855 2,887 5,502 4,302 4,596 4,658 4,283 4,523 4,852 6,404 Exports of goods, serv. & inc. (XGS) .. 905 1,628 1,437 1,560 1,656 1,571 1,728 1,887 2,348 Worker remit. & comp. of employees 0 77 142 150 147 186 233 305 344 344 Imports of goods & services (MGS) .. 1,337 2,053 1,708 1,888 2,006 1,938 2,014 2,276 2,875 International reserves (RES) 22 25 22 386 431 403 384 447 637 795 Current account balance .. -386 -363 -185 -247 -320 -332 -245 -317 -433 4. DEBT INDICATORS EDT / XGS (%) .. 162.7 229.7 263.8 260.8 238.1 229.5 212.1 218.4 188.2 EDT / GNI (%) 17.0 51.0 67.9 88.1 88.5 84.7 84.2 81.0 84.9 69.0 TDS / XGS (%) .. 28.7 20.0 17.4 20.7 14.5 14.3 12.3 11.6 10.4 INT / XGS (%) .. 10.5 7.9 6.3 6.9 4.7 4.9 3.8 3.9 3.4 INT / GNI (%) 0.3 3.3 2.3 2.1 2.3 1.7 1.8 1.5 1.5 1.2 RES / EDT (%) 15.2 1.7 0.6 10.2 10.6 10.2 10.6 12.2 15.5 18.0 RES / MGS (months) .. 0.2 0.1 2.7 2.7 2.4 2.4 2.7 3.4 3.3 Short-term / EDT (%) 0.0 14.9 11.3 5.6 6.7 7.8 4.1 5.5 7.1 3.5 Concessional / EDT (%) 59.8 27.1 52.7 66.1 71.4 71.5 75.6 75.0 75.5 79.8 Multilateral / EDT (%) 9.2 17.9 36.5 49.3 49.8 49.8 52.9 53.1 54.1 58.4 449 SENEGAL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 145 1,114 3,003 3,284 3,504 3,364 3,205 3,214 3,575 4,023 Public and publicly guaranteed 114 1,105 2,943 3,229 3,482 3,350 3,192 3,163 3,541 3,983 Official creditors 100 653 2,762 3,221 3,475 3,344 3,182 3,144 3,519 3,958 Multilateral 13 263 1,366 1,867 2,027 1,964 1,908 1,945 2,230 2,582 Concessional 9 179 1,153 1,662 1,824 1,789 1,762 1,815 2,107 2,439 Bilateral 87 390 1,396 1,354 1,448 1,380 1,274 1,199 1,288 1,376 Concessional 78 221 818 843 1,081 1,032 966 933 1,004 1,088 Private creditors 14 452 181 8 8 6 10 19 23 25 Bonds 0 4 0 0 0 0 0 0 0 0 Commercial banks 0 129 129 7 7 6 10 17 19 21 Other private 14 319 52 1 1 0 0 2 3 4 Private nonguaranteed 31 9 60 55 22 14 13 51 33 40 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 31 9 60 55 22 14 13 51 33 40 Memo: IBRD 2 57 88 14 9 4 1 0 0 0 IDA 9 100 747 1,187 1,301 1,310 1,330 1,384 1,578 1,806 DISBURSEMENTS 20 327 223 255 284 83 142 258 240 237 Public and publicly guaranteed 19 327 208 234 283 82 141 202 230 223 Official creditors 12 186 207 234 283 82 136 193 227 219 Multilateral 5 93 136 126 157 72 121 170 185 184 Concessional 4 63 127 125 143 70 114 165 180 173 Bilateral 7 94 72 108 125 10 15 23 42 35 Concessional 7 50 72 101 59 10 15 20 42 35 Private creditors 7 141 0 0 0 0 5 10 3 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 23 0 0 0 0 5 7 1 2 Other private 7 117 0 0 0 0 0 3 2 1 Private nonguaranteed 1 0 15 21 2 1 1 55 10 14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 1 0 15 21 2 1 1 55 10 14 Memo: IBRD 1 18 0 0 0 0 0 0 0 0 IDA 4 12 117 60 85 49 92 119 114 107 PRINCIPAL REPAYMENTS 9 156 142 97 156 130 127 125 122 132 Public and publicly guaranteed 7 152 130 92 139 123 124 108 112 118 Official creditors 6 19 111 90 139 123 124 108 111 115 Multilateral 0 3 58 42 72 78 67 44 44 42 Concessional 0 0 29 20 42 53 49 32 31 37 Bilateral 6 16 53 48 67 45 57 63 67 73 Concessional 5 7 25 27 47 36 39 50 50 52 Private creditors 0 133 19 2 1 0 0 0 1 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 58 8 0 0 0 0 0 0 2 Other private 0 74 11 1 1 0 0 0 1 1 Private nonguaranteed 3 4 12 5 17 7 3 17 10 14 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 4 12 5 17 7 3 17 10 14 Memo: IBRD 0 2 13 7 5 4 3 1 0 0 IDA 0 0 3 8 11 12 11 10 6 13 NET FLOWS ON DEBT 11 170 81 158 128 -47 15 133 117 105 Public and publicly guaranteed 13 175 78 142 143 -42 17 94 118 104 Official creditors 6 167 96 143 144 -41 12 85 116 104 Multilateral 4 90 77 84 85 -7 54 125 141 142 Concessional 4 63 98 105 101 17 65 134 149 136 Bilateral 1 77 19 60 59 -35 -42 -40 -25 -38 Concessional 2 43 47 74 12 -26 -24 -30 -8 -17 Private creditors 7 8 -19 -2 -1 0 5 9 2 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -35 -8 0 0 0 5 7 1 0 Other private 7 43 -11 -1 -1 0 0 2 1 0 Private nonguaranteed -2 -4 4 16 -15 -5 -1 39 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -2 -4 4 16 -15 -5 -1 39 0 0 Memo: IBRD 1 16 -13 -7 -5 -4 -3 -1 0 0 IDA 4 12 114 52 74 37 81 109 108 95 450 SENEGAL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 2 67 84 76 90 59 58 57 66 73 Public and publicly guaranteed 2 67 82 75 89 58 58 53 65 71 Official creditors 2 22 71 75 89 58 58 53 65 70 Multilateral 0 6 26 27 36 29 25 19 28 26 Concessional 0 1 9 15 18 17 16 15 18 19 Bilateral 2 15 45 48 53 29 33 34 37 45 Concessional 1 6 20 16 20 17 24 20 25 27 Private creditors 0 45 10 0 0 0 0 0 0 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 23 7 0 0 0 0 0 0 1 Other private 0 22 3 0 0 0 0 0 0 0 Private nonguaranteed 0 0 3 1 1 1 0 4 1 2 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 3 1 1 1 0 4 1 2 Memo: IBRD 0 4 6 2 1 1 0 0 0 0 IDA 0 1 4 9 9 9 8 9 10 12 NET TRANSFERS ON DEBT 8 103 -3 82 38 -106 -43 76 51 31 Public and publicly guaranteed 10 108 -4 67 54 -100 -41 41 53 33 Official creditors 3 146 25 69 55 -99 -46 32 51 34 Multilateral 4 84 51 56 49 -36 29 106 114 117 Concessional 4 62 88 91 83 0 50 119 131 117 Bilateral -1 62 -27 12 5 -63 -75 -74 -62 -83 Concessional 1 37 27 58 -8 -43 -48 -50 -33 -43 Private creditors 7 -38 -29 -2 -1 0 5 9 2 -1 Bonds 0 -1 0 0 0 0 0 0 0 0 Commercial banks 0 -58 -15 0 0 0 5 7 1 -1 Other private 7 21 -14 -2 -1 0 0 2 1 0 Private nonguaranteed -2 -5 1 15 -16 -6 -2 35 -2 -1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other -2 -5 1 15 -16 -6 -2 35 -2 -1 Memo: IBRD 1 12 -19 -9 -7 -5 -3 -1 0 0 IDA 4 11 110 44 65 27 73 100 98 83 DEBT SERVICE (LTDS) 12 223 226 173 246 189 185 181 189 206 Public and publicly guaranteed 9 219 212 167 229 181 182 161 177 190 Official creditors 9 41 183 165 228 181 182 161 176 186 Multilateral 0 9 84 70 108 108 92 63 72 68 Concessional 0 1 38 35 59 70 65 46 48 56 Bilateral 8 32 98 96 120 73 90 98 104 118 Concessional 6 13 45 43 67 53 63 70 74 78 Private creditors 1 178 29 2 1 0 0 0 1 4 Bonds 0 1 0 0 0 0 0 0 0 0 Commercial banks 0 81 15 0 0 0 0 0 0 3 Other private 0 96 14 2 1 0 0 0 1 1 Private nonguaranteed 3 5 14 6 17 7 3 20 12 16 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 5 14 6 17 7 3 20 12 16 Memo: IBRD 0 6 19 9 7 5 3 1 0 0 IDA 0 1 7 17 20 21 19 19 16 24 UNDISBURSED DEBT 42 604 976 804 807 902 1,049 1,209 1,227 1,296 Official creditors 37 563 966 804 807 902 1,043 1,205 1,225 1,295 Private creditors 5 41 9 0 0 0 5 4 2 0 Memorandum items Concessional LDOD 87 400 1,971 2,505 2,905 2,820 2,728 2,748 3,111 3,527 Variable rate LDOD 31 141 140 242 268 231 199 220 207 226 Public sector LDOD 112 1,079 2,906 3,229 3,482 3,350 3,192 3,163 3,541 3,983 Private sector LDOD 33 35 97 55 22 14 13 51 33 40 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 19.6 20.1 20.9 Deutsche mark 23.5 4.6 1.3 1.3 1.6 1.3 1.4 .. .. .. French franc 26.9 39.3 25.7 14.7 13.8 12.6 12.1 .. .. .. Japanese yen 0.0 0.0 1.5 2.8 2.9 3.5 3.1 2.5 2.2 1.9 Pound sterling 0.0 0.8 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc 0.0 0.3 0.9 0.3 0.3 0.2 0.2 0.1 0.1 0.1 U.S.dollars 1.7 23.0 32.9 40.5 40.6 42.3 45.1 47.6 48.0 48.6 Multiple currency 2.0 6.7 8.6 11.9 11.1 10.9 10.2 9.3 8.7 8.5 Special drawing rights 0.0 0.0 0.4 1.0 1.2 1.3 1.4 1.4 1.4 1.9 All other currencies 45.9 25.4 28.3 27.3 28.4 27.6 26.4 19.2 19.3 18.0 451 SENEGAL (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 111 12 306 30 0 0 0 7 Debt stock rescheduled .. .. 0 0 305 0 0 0 0 7 Principal rescheduled .. .. 76 4 0 1 0 0 0 0 Official .. .. 57 4 0 1 0 0 0 0 Private .. .. 18 0 0 0 0 0 0 0 Interest rescheduled .. .. 27 1 0 0 0 0 0 0 Official .. .. 23 1 0 0 0 0 0 0 Private .. .. 4 0 0 0 0 0 0 0 Debt forgiven .. .. 18 4 0 0 12 21 26 23 Memo: interest forgiven .. .. 0 0 0 0 10 7 2 2 Debt stock reduction .. .. 0 0 16 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 .. .. 465 22 280 -126 -338 58 456 297 Net flows on debt 11 246 222 175 176 -25 -148 196 198 -61 Net change in interest arrears .. .. -7 0 0 0 0 0 1 0 Interest capitalized .. .. 27 1 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -18 -4 -16 0 -12 -21 -26 -23 Cross-currency valuation .. .. 30 -506 -178 -184 -163 -102 253 334 Residual .. .. 211 356 298 83 -14 -15 31 47 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.9 5.9 1.9 1.8 2.7 0.9 0.9 1.3 1.7 1.4 Maturity (years) 23.2 20.0 33.5 33.9 36.7 40.9 38.5 33.1 34.3 37.9 Grace period (years) 6.8 5.6 8.7 8.6 7.9 9.8 9.6 8.0 9.5 8.8 Grant element (%) 43.8 30.2 66.2 66.5 61.0 78.7 77.3 69.7 68.3 72.2 Official creditors Interest (%) 2.3 5.4 1.9 1.8 2.7 0.9 0.7 1.1 1.7 1.3 Maturity (years) 30.6 21.3 33.8 33.9 36.7 40.9 39.8 33.6 34.4 38.1 Grace period (years) 8.8 6.0 8.8 8.6 7.9 9.8 9.9 8.1 9.5 8.8 Grant element (%) 59.6 33.7 66.8 66.5 61.0 78.7 79.8 70.9 68.5 72.8 Private creditors Interest (%) 7.5 10.8 8.3 7.8 0.0 0.0 5.4 7.1 3.0 6.9 Maturity (years) 5.9 8.3 10.1 8.6 0.0 0.0 8.7 7.3 9.3 7.2 Grace period (years) 2.2 2.5 2.6 1.1 0.0 0.0 2.0 0.5 2.8 0.5 Grant element (%) 6.8 -0.7 6.6 7.1 0.0 0.0 18.1 7.9 29.4 8.6 Memorandum items Commitments 7 469 365 261 260 215 250 402 158 180 Official creditors 5 421 361 261 260 215 240 395 157 179 Private creditors 2 48 4 0 0 0 10 8 1 2 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 286 268 210 158 124 87 57 39 24 12 Principal 286 182 174 168 170 169 174 164 156 157 Interest 74 72 69 67 64 62 59 56 53 51 Official creditors Disbursements 286 268 210 158 124 87 57 39 24 12 Principal 277 173 165 159 161 162 168 164 156 157 Interest 72 70 68 66 64 61 59 56 53 51 Bilateral creditors Disbursements 66 41 25 13 8 4 4 3 1 0 Principal 189 86 76 69 67 63 55 46 45 44 Interest 42 40 37 35 34 32 30 29 27 26 Multilateral creditors Disbursements 220 227 186 145 116 82 53 37 23 12 Principal 88 87 90 90 94 100 113 117 111 113 Interest 30 31 31 31 30 30 28 27 26 25 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 9 9 9 9 9 6 6 0 0 0 Interest 2 2 1 1 1 0 0 0 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 3 3 3 3 3 1 0 0 0 0 Interest 1 1 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 6 6 6 6 6 6 6 0 0 0 Interest 1 1 1 1 0 0 0 0 0 0 452 SERBIA AND MONTENEGRO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 10,968 11,250 11,253 11,851 12,769 12,423 14,885 Long-term debt (LDOD) .. .. .. 7,124 7,243 6,845 6,828 6,882 9,429 11,227 Public and publicly guaranteed .. .. .. 6,148 6,500 6,234 6,217 6,226 8,523 9,679 Private nonguaranteed .. .. .. 976 743 611 611 656 906 1,548 Use of IMF credit .. .. .. 76 79 76 152 273 567 917 Short-term debt .. .. .. 3,769 3,928 4,332 4,871 5,614 2,427 2,741 of which interest arrears on LDOD .. .. .. 1,755 2,619 3,190 3,981 4,589 1,407 1,896 Official creditors .. .. .. 812 1,597 2,101 2,833 3,442 218 233 Private creditors .. .. .. 943 1,022 1,089 1,148 1,148 1,189 1,663 Memo: principal arrears on LDOD .. .. .. 3,961 4,955 4,889 5,314 6,199 1,574 1,709 Official creditors .. .. .. 2,964 3,851 3,664 3,678 4,563 146 182 Private creditors .. .. .. 997 1,104 1,225 1,636 1,636 1,428 1,528 Memo: export credits .. .. .. 582 1,620 1,965 1,918 1,901 1,676 2,001 TOTAL DEBT FLOWS Disbursements .. .. .. 0 0 0 376 325 861 1,759 Long-term debt .. .. .. 0 0 0 222 198 603 1,480 IMF purchases .. .. .. 0 0 0 154 127 259 280 Principal repayments .. .. .. 0 0 1 73 31 79 592 Long-term debt .. .. .. 0 0 0 0 31 79 592 IMF repurchases .. .. .. 0 0 1 73 0 0 0 Net flows on debt .. .. .. 1,728 -705 -168 51 429 777 992 of which short-term debt .. .. .. 1,728 -705 -167 -252 135 -5 -175 Interest payments (INT) .. .. .. 53 65 41 47 76 167 331 Long-term debt .. .. .. 0 0 0 0 16 123 288 IMF charges .. .. .. 0 0 0 29 7 12 13 Short-term debt .. .. .. 53 65 41 18 52 33 30 Net transfers on debt .. .. .. 1,676 -770 -209 4 353 610 661 Total debt service paid (TDS) .. .. .. 53 65 42 120 107 247 923 Long-term debt .. .. .. 0 0 0 0 47 202 880 IMF repurchases and charges .. .. .. 0 0 1 102 7 12 13 Short-term debt (interest only) .. .. .. 53 65 41 18 52 33 30 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 872 288 1,202 1,545 1,546 3,364 3,240 Net flow of long-term debt (ex. IMF) .. .. .. 0 0 0 222 167 523 888 Foreign direct investment (net) .. .. .. 740 113 112 25 165 475 1,360 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 132 175 1,090 1,298 1,214 2,366 992 Memo: technical coop. grants .. .. .. 34 43 45 125 224 298 318 official net resource flows .. .. .. 132 175 1,090 1,485 1,371 2,687 1,778 private net resource flows .. .. .. 740 113 112 60 175 677 1,462 NET TRANSFERS .. .. .. 872 288 1,202 1,545 1,530 3,241 2,951 Interest on long-term debt .. .. .. 0 0 0 0 16 123 288 Profit remittances on FDI .. .. .. 0 0 0 0 0 0 0 Memo: official net transfers .. .. .. 132 175 1,090 1,485 1,355 2,587 1,561 private net transfers .. .. .. 740 113 112 60 175 654 1,391 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. .. .. 9,800 8,614 11,550 15,570 20,492 Exports of goods, serv. & inc. (XGS) .. .. .. 4,295 5,037 3,138 3,732 4,489 5,392 6,766 Worker remit. & comp. of employees .. .. .. 0 0 0 0 1,397 1,397 1,397 Imports of goods & services (MGS) .. .. .. 5,222 5,319 3,622 4,046 5,234 7,030 8,972 International reserves (RES) .. .. .. .. .. .. .. .. .. .. Current account balance .. .. .. -1,279 -660 -764 -327 -528 -1,384 -2,121 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 255.4 223.3 358.6 317.6 284.5 230.4 220.0 EDT / GNI (%) .. .. .. .. .. 114.8 137.6 110.6 79.8 72.6 TDS / XGS (%) .. .. .. 1.2 1.3 1.3 3.2 2.4 4.6 13.6 INT / XGS (%) .. .. .. 1.2 1.3 1.3 1.3 1.7 3.1 4.9 INT / GNI (%) .. .. .. .. .. 0.4 0.5 0.7 1.1 1.6 RES / EDT (%) .. .. .. .. .. .. .. .. .. .. RES / MGS (months) .. .. .. .. .. .. .. .. .. .. Short-term / EDT (%) .. .. .. 34.4 34.9 38.5 41.1 44.0 19.5 18.4 Concessional / EDT (%) .. .. .. 2.8 2.9 2.6 2.3 2.2 21.3 24.7 Multilateral / EDT (%) .. .. .. 11.4 13.5 13.2 12.1 10.7 25.9 26.0 453 SERBIA AND MONTENEGRO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 7,124 7,243 6,845 6,828 6,882 9,429 11,227 Public and publicly guaranteed .. .. .. 6,148 6,500 6,234 6,217 6,226 8,523 9,679 Official creditors .. .. .. 4,167 4,550 4,298 4,282 4,281 6,081 7,603 Multilateral .. .. .. 1,251 1,520 1,484 1,440 1,369 3,213 3,865 Concessional .. .. .. 0 0 0 0 0 167 334 Bilateral .. .. .. 2,916 3,029 2,815 2,842 2,912 2,868 3,738 Concessional .. .. .. 307 324 288 272 277 2,482 3,343 Private creditors .. .. .. 1,981 1,950 1,935 1,935 1,945 2,442 2,077 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 1,974 1,943 1,928 1,928 1,938 2,442 2,075 Other private .. .. .. 7 7 7 7 7 0 2 Private nonguaranteed .. .. .. 976 743 611 611 656 906 1,548 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 976 743 611 611 656 906 1,548 Memo: IBRD .. .. .. 1,112 1,148 1,132 1,097 1,085 2,251 2,605 IDA .. .. .. 0 0 0 0 0 167 284 DISBURSEMENTS .. .. .. 0 0 0 222 198 603 1,480 Public and publicly guaranteed .. .. .. 0 0 0 222 198 325 854 Official creditors .. .. .. 0 0 0 187 187 325 852 Multilateral .. .. .. 0 0 0 0 8 230 239 Concessional .. .. .. 0 0 0 0 0 159 140 Bilateral .. .. .. 0 0 0 187 179 95 613 Concessional .. .. .. 0 0 0 0 15 64 608 Private creditors .. .. .. 0 0 0 35 11 0 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 11 0 0 Other private .. .. .. 0 0 0 35 0 0 1 Private nonguaranteed .. .. .. 0 0 0 0 0 277 626 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 277 626 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 159 95 PRINCIPAL REPAYMENTS .. .. .. 0 0 0 0 31 79 592 Public and publicly guaranteed .. .. .. 0 0 0 0 31 4 434 Official creditors .. .. .. 0 0 0 0 30 4 66 Multilateral .. .. .. 0 0 0 0 0 4 64 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 0 0 0 0 30 0 2 Concessional .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 0 0 0 1 0 367 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 1 0 367 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 0 0 0 0 75 158 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 75 158 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 0 0 0 222 167 523 888 Public and publicly guaranteed .. .. .. 0 0 0 222 167 321 420 Official creditors .. .. .. 0 0 0 187 157 321 786 Multilateral .. .. .. 0 0 0 0 8 226 175 Concessional .. .. .. 0 0 0 0 0 159 140 Bilateral .. .. .. 0 0 0 187 149 95 611 Concessional .. .. .. 0 0 0 0 15 64 608 Private creditors .. .. .. 0 0 0 35 10 0 -366 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 10 0 -367 Other private .. .. .. 0 0 0 35 0 0 1 Private nonguaranteed .. .. .. 0 0 0 0 0 202 468 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 202 468 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 159 95 454 SERBIA AND MONTENEGRO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 0 0 0 0 16 123 288 Public and publicly guaranteed .. .. .. 0 0 0 0 16 100 247 Official creditors .. .. .. 0 0 0 0 16 100 217 Multilateral .. .. .. 0 0 0 0 5 84 159 Concessional .. .. .. 0 0 0 0 0 0 1 Bilateral .. .. .. 0 0 0 0 12 15 58 Concessional .. .. .. 0 0 0 0 0 14 55 Private creditors .. .. .. 0 0 0 0 0 0 30 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 0 0 30 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 0 0 0 0 23 41 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 23 41 Memo: IBRD .. .. .. 0 0 0 0 5 75 104 IDA .. .. .. 0 0 0 0 0 0 1 NET TRANSFERS ON DEBT .. .. .. 0 0 0 222 150 400 600 Public and publicly guaranteed .. .. .. 0 0 0 222 150 221 173 Official creditors .. .. .. 0 0 0 187 140 221 569 Multilateral .. .. .. 0 0 0 0 3 141 16 Concessional .. .. .. 0 0 0 0 0 159 139 Bilateral .. .. .. 0 0 0 187 137 80 553 Concessional .. .. .. 0 0 0 0 15 50 553 Private creditors .. .. .. 0 0 0 35 10 0 -396 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 10 0 -398 Other private .. .. .. 0 0 0 35 0 0 1 Private nonguaranteed .. .. .. 0 0 0 0 0 179 427 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 179 427 Memo: IBRD .. .. .. 0 0 0 0 -5 -75 -104 IDA .. .. .. 0 0 0 0 0 159 94 DEBT SERVICE (LTDS) .. .. .. 0 0 0 0 47 202 880 Public and publicly guaranteed .. .. .. 0 0 0 0 47 104 681 Official creditors .. .. .. 0 0 0 0 46 104 283 Multilateral .. .. .. 0 0 0 0 5 89 223 Concessional .. .. .. 0 0 0 0 0 0 1 Bilateral .. .. .. 0 0 0 0 42 15 60 Concessional .. .. .. 0 0 0 0 0 14 55 Private creditors .. .. .. 0 0 0 0 1 0 398 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 0 0 1 0 398 Other private .. .. .. 0 0 0 0 0 0 0 Private nonguaranteed .. .. .. 0 0 0 0 0 98 199 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 0 0 0 0 98 199 Memo: IBRD .. .. .. 0 0 0 0 5 75 104 IDA .. .. .. 0 0 0 0 0 0 1 UNDISBURSED DEBT .. .. .. 187 0 300 299 629 1,006 1,171 Official creditors .. .. .. 187 0 300 299 629 1,006 1,083 Private creditors .. .. .. 0 0 0 0 0 0 88 Memorandum items Concessional LDOD .. .. .. 307 324 288 272 277 2,649 3,677 Variable rate LDOD .. .. .. 4,911 4,697 4,452 4,443 4,601 7,319 8,773 Public sector LDOD .. .. .. 6,059 6,409 6,148 6,134 6,158 8,523 9,679 Private sector LDOD .. .. .. 1,065 834 696 694 724 906 1,548 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 18.0 17.8 22.1 Deutsche mark .. .. .. 9.0 9.1 8.1 7.5 .. .. .. French franc .. .. .. 7.2 6.8 6.1 5.7 .. .. .. Japanese yen .. .. .. 1.7 1.9 2.2 2.0 1.7 0.0 0.0 Pound sterling .. .. .. 0.8 0.7 0.5 0.5 0.5 0.0 0.2 Swiss franc .. .. .. 3.1 3.1 2.8 2.7 2.7 1.6 1.6 U.S.dollars .. .. .. 19.4 21.8 22.7 25.1 27.6 63.1 62.5 Multiple currency .. .. .. 49.6 47.4 49.2 48.8 48.5 17.2 13.2 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 9.2 9.1 8.3 7.7 1.1 0.3 0.4 455 SERBIA AND MONTENEGRO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 0 0 215 4,848 0 Debt stock rescheduled .. .. .. 0 0 0 0 0 957 0 Principal rescheduled .. .. .. 0 0 0 0 52 1,306 6 Official .. .. .. 0 0 0 0 52 1,303 6 Private .. .. .. 0 0 0 0 0 3 0 Interest rescheduled .. .. .. 0 0 0 0 134 1,382 0 Official .. .. .. 0 0 0 0 134 1,380 0 Private .. .. .. 0 0 0 0 0 2 0 Debt forgiven .. .. .. 0 0 0 0 0 858 0 Memo: interest forgiven .. .. .. 0 0 0 0 0 0 0 Debt stock reduction .. .. .. 0 0 0 0 0 114 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. .. 1,207 282 3 599 918 -346 2,462 Net flows on debt .. .. .. 1,728 -705 -168 51 429 777 992 Net change in interest arrears .. .. .. 90 864 571 791 608 -3,183 489 Interest capitalized .. .. .. 0 0 0 0 134 1,382 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 -972 0 Cross-currency valuation .. .. .. -318 163 -253 -164 -30 369 847 Residual .. .. .. -294 -41 -147 -80 -223 1,280 134 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 0.0 0.0 6.6 4.1 6.6 2.5 2.4 Maturity (years) .. .. .. 0.0 0.0 8.4 14.9 19.1 19.4 19.7 Grace period (years) .. .. .. 0.0 0.0 2.2 4.9 5.0 7.2 6.7 Grant element (%) .. .. .. 0.0 0.0 12.3 36.1 20.3 51.8 51.6 Official creditors Interest (%) .. .. .. 0.0 0.0 6.6 0.4 6.6 2.5 2.5 Maturity (years) .. .. .. 0.0 0.0 8.4 23.2 19.1 19.4 21.0 Grace period (years) .. .. .. 0.0 0.0 2.2 7.8 5.0 7.2 7.1 Grant element (%) .. .. .. 0.0 0.0 12.3 65.1 20.3 51.8 53.6 Private creditors Interest (%) .. .. .. 0.0 0.0 0.0 7.8 0.0 0.0 1.6 Maturity (years) .. .. .. 0.0 0.0 0.0 6.4 0.0 0.0 7.1 Grace period (years) .. .. .. 0.0 0.0 0.0 1.9 0.0 0.0 3.4 Grant element (%) .. .. .. 0.0 0.0 0.0 6.4 0.0 0.0 32.1 Memorandum items Commitments .. .. .. 0 0 300 71 676 591 876 Official creditors .. .. .. 0 0 300 36 676 591 795 Private creditors .. .. .. 0 0 0 35 0 0 81 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 391 226 138 68 35 18 9 6 4 3 Principal 497 817 717 507 447 452 350 351 732 433 Interest 283 269 250 237 226 212 202 192 154 145 Official creditors Disbursements 391 226 138 68 35 18 9 6 4 3 Principal 126 220 244 321 396 414 336 339 379 433 Interest 219 219 216 208 196 183 171 162 154 145 Bilateral creditors Disbursements 80 51 31 17 9 2 2 0 0 0 Principal 60 49 44 111 185 202 176 175 182 185 Interest 117 117 118 117 115 110 106 101 97 92 Multilateral creditors Disbursements 312 176 107 51 26 16 7 6 4 3 Principal 66 170 199 210 211 211 159 164 198 248 Interest 102 102 98 90 82 73 65 61 57 52 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 371 597 473 186 51 38 14 12 352 0 Interest 63 50 34 29 30 29 31 30 0 0 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 367 367 367 0 0 0 0 0 0 0 Interest 21 13 6 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4 230 106 186 51 38 14 12 352 0 Interest 43 37 29 29 30 29 31 30 0 0 456 SEYCHELLES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 84.1 183.1 189.2 244.8 254.3 395.4 501.6 534.7 547.9 Long-term debt (LDOD) .. 25.1 137.1 170.6 202.3 213.2 310.9 401.8 427.2 439.0 Public and publicly guaranteed .. 25.1 137.1 170.6 202.3 213.2 310.9 401.8 427.2 439.0 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 18.6 42.5 41.0 84.5 99.9 107.5 108.9 of which interest arrears on LDOD .. 0.0 1.2 4.6 4.6 4.2 5.5 8.9 16.5 35.9 Official creditors .. 0.0 0.6 3.2 3.6 3.4 5.5 8.8 15.0 33.9 Private creditors .. 0.0 0.7 1.5 1.0 0.8 0.0 0.0 1.5 2.0 Memo: principal arrears on LDOD .. 0.0 9.3 25.4 23.5 21.5 22.2 65.7 86.8 115.3 Official creditors .. 0.0 7.1 14.9 14.1 13.5 22.2 28.5 51.0 94.8 Private creditors .. 0.0 2.1 10.4 9.4 8.1 0.0 37.2 35.8 20.5 TOTAL DEBT FLOWS Disbursements .. 11.7 13.2 19.1 36.8 39.2 127.4 125.4 72.8 56.0 Long-term debt .. 11.7 13.2 19.1 36.8 39.2 127.4 125.4 72.8 56.0 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 9.8 14.3 16.8 9.6 28.6 71.5 64.6 Long-term debt .. 0.1 12.7 9.8 14.3 16.8 9.6 28.6 71.5 64.6 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 10.7 16.4 46.3 21.3 160.1 108.8 1.3 -26.6 of which short-term debt .. -402.0 10.2 7.1 23.8 -1.0 42.2 12.0 0.0 -18.0 Interest payments (INT) .. 37.1 9.0 5.4 7.9 9.7 11.2 12.2 14.9 14.7 Long-term debt .. 0.2 5.5 4.9 6.6 7.6 6.8 8.2 11.9 12.7 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 1.3 2.1 4.4 4.0 3.0 2.0 Net transfers on debt .. -427.5 1.6 11.0 38.4 11.6 148.9 96.6 -13.5 -41.3 Total debt service paid (TDS) .. 37.2 21.7 15.2 22.3 26.6 20.7 40.7 86.4 79.3 Long-term debt .. 0.3 18.2 14.6 21.0 24.5 16.3 36.7 83.4 77.3 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 1.3 2.1 4.4 4.0 3.0 2.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 26.8 32.3 68.2 83.9 84.8 153.4 165.8 67.0 52.0 Net flow of long-term debt (ex. IMF) .. 11.7 0.5 9.4 22.5 22.4 117.9 96.8 1.3 -8.6 Foreign direct investment (net) .. 9.5 20.2 53.4 53.2 55.2 24.3 59.4 61.4 58.0 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.) .. 5.7 11.6 5.4 8.2 7.3 11.2 9.6 4.3 2.6 Memo: technical coop. grants .. 8.0 10.3 7.4 5.9 5.1 3.5 3.6 4.3 6.3 official net resource flows .. 17.3 18.3 14.4 25.6 7.9 25.3 15.3 22.3 30.6 private net resource flows .. 9.5 14.0 53.8 58.3 76.9 128.1 150.5 44.8 21.3 NET TRANSFERS .. 19.0 18.5 57.2 71.3 69.6 134.5 129.7 -18.7 -18.7 Interest on long-term debt .. 0.2 5.5 4.9 6.6 7.6 6.8 8.2 11.9 12.7 Profit remittances on FDI .. 7.6 8.3 6.1 6.0 7.6 12.1 27.9 73.9 58.0 Memo: official net transfers .. 17.1 14.8 10.7 20.7 3.1 23.3 14.6 21.0 27.6 private net transfers .. 1.9 3.7 46.6 50.5 66.5 111.2 115.1 -39.8 -46.3 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 142.0 355.4 550.7 587.4 598.1 575.1 587.0 630.3 678.4 Exports of goods, serv. & inc. (XGS) .. 102.8 240.6 379.1 375.8 431.4 498.2 522.4 552.1 566.8 Worker remit. & comp. of employees .. 0.0 8.0 0.0 0.0 0.0 0.0 2.0 2.0 2.0 Imports of goods & services (MGS) .. 131.4 264.6 453.0 492.1 558.0 543.9 643.3 677.5 615.2 International reserves (RES) .. 18.4 16.6 26.3 21.6 30.3 43.8 37.1 69.8 67.4 Current account balance .. -15.6 -13.0 -66.1 -106.3 -116.8 -40.5 -117.9 -124.1 -47.8 4. DEBT INDICATORS EDT / XGS (%) .. 81.9 76.1 49.9 65.2 58.9 79.4 96.0 96.8 96.7 EDT / GNI (%) .. 59.2 51.5 34.4 41.7 42.5 68.7 85.5 84.8 80.8 TDS / XGS (%) .. 36.2 9.0 4.0 5.9 6.2 4.2 7.8 15.6 14.0 INT / XGS (%) .. 36.1 3.8 1.4 2.1 2.3 2.2 2.3 2.7 2.6 INT / GNI (%) .. 26.2 2.5 1.0 1.4 1.6 1.9 2.1 2.4 2.2 RES / EDT (%) .. 21.9 9.1 13.9 8.8 11.9 11.1 7.4 13.1 12.3 RES / MGS (months) .. 1.7 0.8 0.7 0.5 0.7 1.0 0.7 1.2 1.3 Short-term / EDT (%) .. 70.1 25.1 9.9 17.3 16.1 21.4 19.9 20.1 19.9 Concessional / EDT (%) .. 22.4 45.0 45.2 43.0 39.5 27.1 20.9 23.3 25.1 Multilateral / EDT (%) .. 5.4 23.8 29.9 24.9 22.5 14.6 11.7 12.0 13.0 457 SEYCHELLES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 25.1 137.1 170.6 202.3 213.2 310.9 401.8 427.2 439.0 Public and publicly guaranteed .. 25.1 137.1 170.6 202.3 213.2 310.9 401.8 427.2 439.0 Official creditors .. 25.1 117.8 142.0 168.0 158.7 160.7 161.1 201.9 249.7 Multilateral .. 4.5 43.6 56.6 61.0 57.1 57.6 58.5 64.3 71.4 Concessional .. 2.5 19.8 20.8 21.6 21.3 23.7 24.3 25.7 27.7 Bilateral .. 20.6 74.2 85.4 107.0 101.6 103.1 102.6 137.6 178.2 Concessional .. 16.3 62.6 64.8 83.7 79.2 83.3 80.6 98.8 110.0 Private creditors .. 0.0 19.3 28.6 34.4 54.5 150.1 240.7 225.3 189.3 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 14.2 17.0 40.1 138.6 230.0 191.8 142.1 Other private .. 0.0 2.8 14.3 17.3 14.3 11.5 10.7 33.5 47.2 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 5.8 3.6 3.6 3.7 2.9 2.3 2.5 2.7 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DISBURSEMENTS .. 11.7 13.2 19.1 36.8 39.2 127.4 125.4 72.8 56.0 Public and publicly guaranteed .. 11.7 13.2 19.1 36.8 39.2 127.4 125.4 72.8 56.0 Official creditors .. 11.7 11.6 15.7 27.2 11.6 19.1 8.2 19.5 33.6 Multilateral .. 3.5 3.4 5.5 7.3 3.9 7.4 3.8 1.7 1.5 Concessional .. 1.6 1.2 0.6 1.2 0.9 3.3 1.0 0.2 1.1 Bilateral .. 8.2 8.2 10.2 19.8 7.7 11.6 4.4 17.9 32.1 Concessional .. 4.5 4.1 5.6 17.1 7.3 11.4 0.9 3.6 2.5 Private creditors .. 0.0 1.6 3.4 9.7 27.6 108.4 117.2 53.3 22.4 Bonds .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. 0.0 1.3 0.0 5.1 27.6 108.4 117.2 29.8 3.0 Other private .. 0.0 0.3 3.4 4.6 0.0 0.0 0.0 23.5 19.4 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 1.4 0.2 0.5 1.2 0.1 0.0 0.0 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS .. 0.1 12.7 9.8 14.3 16.8 9.6 28.6 71.5 64.6 Public and publicly guaranteed .. 0.1 12.7 9.8 14.3 16.8 9.6 28.6 71.5 64.6 Official creditors .. 0.1 4.8 6.8 9.7 11.0 5.0 2.5 1.6 5.5 Multilateral .. 0.0 2.9 3.9 5.5 6.6 2.4 0.7 0.6 0.3 Concessional .. 0.0 0.3 0.7 0.7 0.8 0.3 0.1 0.0 0.0 Bilateral .. 0.1 2.0 2.9 4.2 4.4 2.7 1.8 1.0 5.2 Concessional .. 0.1 1.8 1.0 3.1 4.1 1.6 1.6 0.9 1.4 Private creditors .. 0.0 7.9 3.0 4.6 5.8 4.6 26.0 69.9 59.1 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 1.0 3.0 2.8 1.7 25.2 69.2 53.4 Other private .. 0.0 1.1 1.9 1.6 3.0 2.8 0.8 0.8 5.6 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 0.6 0.6 0.8 1.1 0.7 0.4 0.0 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 0.5 9.4 22.5 22.4 117.9 96.8 1.3 -8.6 Public and publicly guaranteed .. 11.7 0.5 9.4 22.5 22.4 117.9 96.8 1.3 -8.6 Official creditors .. 11.7 6.8 8.9 17.4 0.6 14.1 5.7 18.0 28.0 Multilateral .. 3.5 0.6 1.6 1.8 -2.7 5.1 3.0 1.1 1.2 Concessional .. 1.6 0.9 -0.1 0.5 0.1 3.0 0.9 0.2 1.1 Bilateral .. 8.2 6.2 7.3 15.6 3.3 9.0 2.6 16.9 26.8 Concessional .. 4.5 2.3 4.6 14.0 3.2 9.8 -0.7 2.7 1.1 Private creditors .. 0.0 -6.2 0.4 5.1 21.7 103.8 91.1 -16.6 -36.7 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 -1.0 2.1 24.7 106.6 91.9 -39.4 -50.4 Other private .. 0.0 -0.8 1.5 3.0 -3.0 -2.8 -0.8 22.7 13.8 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 -0.4 -0.3 0.2 -0.6 -0.4 0.0 0.0 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 458 SEYCHELLES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 0.2 5.5 4.9 6.6 7.6 6.8 8.2 11.9 12.7 Public and publicly guaranteed .. 0.2 5.5 4.9 6.6 7.6 6.8 8.2 11.9 12.7 Official creditors .. 0.2 3.5 3.7 4.9 4.8 2.0 0.6 1.2 3.0 Multilateral .. 0.2 2.5 2.9 3.8 3.7 0.9 0.3 0.4 0.2 Concessional .. 0.0 0.3 0.5 0.5 0.5 0.2 0.0 0.3 0.1 Bilateral .. 0.1 1.1 0.8 1.1 1.1 1.2 0.4 0.8 2.8 Concessional .. 0.0 0.9 0.6 0.8 0.9 0.8 0.4 0.2 0.3 Private creditors .. 0.0 1.9 1.2 1.7 2.9 4.8 7.5 10.7 9.6 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 0.2 0.7 2.1 4.0 7.0 10.2 7.2 Other private .. 0.0 0.2 1.0 1.0 0.8 0.8 0.5 0.4 2.4 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 0.3 0.2 0.2 0.2 0.1 0.0 0.1 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 -4.9 4.5 15.9 14.7 111.1 88.6 -10.5 -21.3 Public and publicly guaranteed .. 11.4 -4.9 4.5 15.9 14.7 111.1 88.6 -10.5 -21.3 Official creditors .. 11.4 3.2 5.2 12.5 -4.2 12.1 5.0 16.7 25.0 Multilateral .. 3.3 -1.9 -1.4 -2.0 -6.4 4.2 2.8 0.7 1.0 Concessional .. 1.6 0.6 -0.6 0.0 -0.4 2.8 0.9 0.0 1.0 Bilateral .. 8.1 5.1 6.6 14.5 2.2 7.8 2.3 16.1 24.0 Concessional .. 4.4 1.4 4.0 13.2 2.3 9.0 -1.0 2.6 0.8 Private creditors .. 0.0 -8.2 -0.7 3.3 18.9 99.0 83.6 -27.3 -46.3 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 -1.2 1.4 22.6 102.6 84.9 -49.6 -57.6 Other private .. 0.0 -1.0 0.5 2.0 -3.7 -3.6 -1.3 22.3 11.3 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 0.4 -0.7 -0.5 -0.1 -0.8 -0.5 0.0 -0.1 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 14.6 21.0 24.5 16.3 36.7 83.4 77.3 Public and publicly guaranteed .. 0.3 18.2 14.6 21.0 24.5 16.3 36.7 83.4 77.3 Official creditors .. 0.3 8.4 10.5 14.6 15.8 7.0 3.2 2.8 8.5 Multilateral .. 0.2 5.4 6.9 9.3 10.3 3.2 1.0 1.0 0.5 Concessional .. 0.0 0.6 1.2 1.2 1.3 0.5 0.1 0.3 0.1 Bilateral .. 0.1 3.0 3.6 5.3 5.5 3.8 2.2 1.8 8.0 Concessional .. 0.1 2.8 1.6 3.9 5.0 2.4 1.9 1.1 1.7 Private creditors .. 0.0 9.8 4.1 6.3 8.7 9.3 33.6 80.6 68.7 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 1.2 3.8 4.9 5.8 32.3 79.4 60.6 Other private .. 0.0 1.3 2.9 2.6 3.7 3.6 1.3 1.2 8.1 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 1.0 0.9 1.0 1.3 0.9 0.5 0.0 0.1 IDA .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 UNDISBURSED DEBT .. 23.9 63.0 52.1 105.2 80.7 166.7 113.3 268.6 228.8 Official creditors .. 23.4 54.1 51.5 54.1 52.7 64.0 46.2 79.0 43.7 Private creditors .. 0.6 8.9 0.6 51.1 27.9 102.8 67.2 189.7 185.1 Memorandum items Concessional LDOD .. 18.8 82.4 85.6 105.3 100.5 107.0 104.9 124.4 137.7 Variable rate LDOD .. 0.0 5.8 3.6 12.8 11.7 98.9 186.1 154.0 114.7 Public sector LDOD .. 25.1 137.1 170.6 202.3 213.2 310.9 401.8 427.2 439.0 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 .. .. .. .. .. .. .. 11.8 13.3 16.2 Deutsche mark .. 8.1 3.0 2.4 2.4 1.9 1.1 .. .. .. French franc .. 2.6 16.9 8.8 7.6 6.1 3.9 .. .. .. Japanese yen .. 0.0 0.0 2.4 2.3 2.5 1.5 2.2 2.0 2.1 Pound sterling .. 68.1 16.8 9.0 7.6 7.0 4.6 3.5 3.6 3.9 Swiss franc .. 0.0 7.2 5.1 10.4 8.5 3.2 2.2 2.6 2.8 U.S.dollars .. 8.4 8.5 13.6 15.4 25.6 53.8 61.5 58.3 53.7 Multiple currency .. 12.8 25.0 26.1 23.6 20.1 12.5 9.0 9.3 10.0 Special drawing rights .. 0.0 0.0 0.4 0.3 0.2 0.1 0.0 0.0 0.1 All other currencies .. 0.0 22.6 32.1 30.4 28.1 19.3 9.6 10.9 11.1 459 SEYCHELLES (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 0.0 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 .. .. 23.9 2.2 55.6 9.5 141.1 106.3 33.1 13.2 Net flows on debt .. -390.3 10.7 16.4 46.3 21.3 160.1 108.8 1.3 -26.6 Net change in interest arrears .. .. 0.9 1.7 0.0 -0.4 1.3 3.3 7.7 19.4 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 .. .. 9.8 -9.6 4.3 -9.9 -5.6 1.0 13.9 9.4 Residual .. .. 2.6 -6.3 4.9 -1.5 -14.6 -6.8 10.1 11.1 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 6.6 5.4 6.3 7.1 1.8 7.7 7.5 6.8 4.2 Maturity (years) .. 15.6 19.1 18.0 7.2 9.3 7.0 8.2 7.1 8.3 Grace period (years) .. 5.1 8.4 4.8 2.8 2.4 1.0 2.1 0.9 1.1 Grant element (%) .. 20.2 35.0 21.5 11.4 35.0 8.0 9.5 9.4 18.6 Official creditors Interest (%) .. 6.6 4.9 6.3 3.7 0.6 3.6 6.2 5.8 4.7 Maturity (years) .. 15.7 20.4 18.0 10.0 9.9 15.0 9.1 12.3 21.5 Grace period (years) .. 5.1 9.0 4.8 3.5 2.7 2.8 2.5 2.0 7.9 Grant element (%) .. 20.3 38.2 21.5 28.5 41.4 33.9 17.6 19.3 38.4 Private creditors Interest (%) .. 7.3 11.5 0.0 8.7 6.5 8.3 7.5 7.1 4.1 Maturity (years) .. 5.0 4.8 0.0 5.8 7.1 5.6 8.1 5.6 6.8 Grace period (years) .. 0.5 0.9 0.0 2.4 1.1 0.7 2.1 0.6 0.3 Grant element (%) .. 5.7 -2.5 0.0 3.2 10.4 3.7 9.3 6.6 16.4 Memorandum items Commitments .. 11 22 20 89 14 213 83 229 29 Official creditors .. 11 21 20 29 11 30 2 51 3 Private creditors .. 0 2 0 60 3 183 82 178 26 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 116.3 62.1 22.5 11.9 2.4 1.5 0.8 0.5 0.3 0.0 Principal 145.9 129.0 82.0 74.4 28.1 22.6 18.7 12.2 9.8 7.3 Interest 21.3 18.4 13.8 9.3 5.4 4.0 3.0 2.1 1.5 1.0 Official creditors Disbursements 9.0 9.0 5.9 3.8 2.4 1.5 0.8 0.5 0.3 0.0 Principal 35.2 26.0 24.4 21.2 19.8 14.3 12.4 9.3 7.0 6.6 Interest 8.2 6.8 5.8 4.9 3.9 3.0 2.3 1.8 1.3 1.0 Bilateral creditors Disbursements 3.4 2.3 1.2 0.5 0.1 0.1 0.0 0.0 0.0 0.0 Principal 17.5 16.8 16.8 13.9 12.9 8.5 7.1 4.4 4.1 3.7 Interest 4.8 4.2 3.5 2.9 2.3 1.7 1.3 1.0 0.7 0.5 Multilateral creditors Disbursements 5.6 6.7 4.7 3.3 2.2 1.4 0.8 0.5 0.3 0.0 Principal 17.7 9.3 7.6 7.3 6.9 5.8 5.3 4.9 2.9 2.9 Interest 3.4 2.6 2.3 2.0 1.7 1.3 1.0 0.8 0.6 0.5 Private creditors Disbursements 107.3 53.1 16.6 8.1 0.0 0.0 0.0 0.0 0.0 0.0 Principal 110.7 103.0 57.7 53.2 8.3 8.3 6.3 2.9 2.8 0.7 Interest 13.1 11.7 8.0 4.5 1.5 1.1 0.6 0.3 0.2 0.0 Commercial banks Disbursements 19.3 11.6 3.3 1.5 0.0 0.0 0.0 0.0 0.0 0.0 Principal 63.9 57.8 12.5 11.4 5.5 5.5 3.5 0.1 0.0 0.0 Interest 6.1 4.1 2.2 1.3 0.6 0.4 0.1 0.0 0.0 0.0 Other private Disbursements 88.0 41.5 13.3 6.5 0.0 0.0 0.0 0.0 0.0 0.0 Principal 46.7 45.2 45.2 41.8 2.9 2.9 2.9 2.9 2.8 0.7 Interest 7.0 7.6 5.8 3.1 0.9 0.7 0.5 0.3 0.2 0.0 460 SIERRA LEONE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 61 470 1,197 1,200 1,314 1,298 1,229 1,295 1,448 1,612 Long-term debt (LDOD) 61 404 940 1,023 1,093 1,066 1,006 1,121 1,262 1,419 Public and publicly guaranteed 61 404 940 1,023 1,093 1,066 1,006 1,121 1,262 1,419 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 59 108 167 191 195 174 152 169 169 Short-term debt 0 7 148 9 30 37 49 22 16 23 of which interest arrears on LDOD 0 7 148 7 20 32 42 8 7 11 Official creditors 0 3 83 7 20 31 41 8 7 9 Private creditors 0 4 66 0 0 1 1 0 0 2 Memo: principal arrears on LDOD 0 17 547 110 123 137 68 33 32 48 Official creditors 0 4 173 22 35 49 64 33 32 38 Private creditors 0 12 374 88 88 88 4 0 0 10 Memo: export credits 0 0 166 135 98 88 85 82 124 108 TOTAL DEBT FLOWS Disbursements 8 104 24 47 62 36 91 143 102 64 Long-term debt 8 84 24 40 46 15 77 83 66 44 IMF purchases 0 21 0 7 16 21 14 60 36 20 Principal repayments 16 50 12 7 14 19 35 85 13 15 Long-term debt 11 34 7 7 14 7 10 9 12 13 IMF repurchases 5 17 5 0 0 12 25 75 1 1 Net flows on debt -8 54 12 24 56 13 57 65 85 51 of which short-term debt 0 0 0 -16 8 -4 1 7 -5 3 Interest payments (INT) 2 16 9 8 12 8 12 11 9 11 Long-term debt 2 13 9 7 11 6 9 8 8 9 IMF charges 0 2 0 1 1 1 3 3 1 1 Short-term debt 0 0 0 1 0 1 0 0 1 0 Net transfers on debt -11 39 3 16 44 6 45 54 76 41 Total debt service paid (TDS) 18 66 21 16 26 27 47 96 22 25 Long-term debt 13 47 16 14 24 12 19 17 20 23 IMF repurchases and charges 5 19 5 1 1 14 28 78 2 2 Short-term debt (interest only) 0 0 0 1 0 1 0 0 1 0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 7 56 79 96 103 74 222 276 279 257 Net flow of long-term debt (ex. IMF) -3 50 17 33 33 9 67 74 54 31 Foreign direct investment (net) 8 -19 32 2 0 1 39 10 2 3 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 1 24 30 61 70 65 116 192 223 223 Memo: technical coop. grants 5 21 28 17 13 12 23 32 45 69 official net resource flows 4 63 42 94 103 74 183 266 277 254 private net resource flows 2 -7 36 2 0 1 39 10 2 3 NET TRANSFERS 4 37 19 87 89 62 212 268 269 238 Interest on long-term debt 2 13 9 7 11 6 9 8 8 9 Profit remittances on FDI 0 5 51 3 3 6 2 1 2 9 Memo: official net transfers 3 60 39 87 92 68 175 258 270 245 private net transfers 1 -23 -20 -1 -3 -6 37 9 0 -7 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 426 1,071 580 832 655 650 616 728 752 763 Exports of goods, serv. & inc. (XGS) .. 276 210 55 78 57 70 92 124 204 Worker remit. & comp. of employees 0 0 0 6 20 22 7 7 22 26 Imports of goods & services (MGS) .. 494 287 129 155 202 262 291 357 421 International reserves (RES) 39 31 5 38 44 39 49 51 85 67 Current account balance .. -165 -69 -55 -33 -99 -112 -98 -73 -80 4. DEBT INDICATORS EDT / XGS (%) .. 170.4 568.8 2,178.4 1,687.7 2,265.8 1,765.0 1,413.2 1,168.5 788.9 EDT / GNI (%) 14.4 43.9 206.4 144.3 200.7 199.8 199.3 177.9 192.6 211.2 TDS / XGS (%) .. 23.8 10.1 28.5 32.9 46.7 67.1 104.6 17.5 12.4 INT / XGS (%) .. 5.6 4.4 15.3 15.5 13.6 17.0 12.2 7.2 5.2 INT / GNI (%) 0.6 1.5 1.6 1.0 1.8 1.2 1.9 1.5 1.2 1.4 RES / EDT (%) 64.1 6.5 0.5 3.2 3.3 3.0 4.0 4.0 5.8 4.1 RES / MGS (months) .. 0.7 0.2 3.6 3.4 2.3 2.3 2.1 2.8 1.9 Short-term / EDT (%) 0.0 1.5 12.4 0.8 2.3 2.9 4.0 1.7 1.1 1.4 Concessional / EDT (%) 32.5 37.5 26.2 61.0 59.6 60.0 66.4 72.7 73.6 74.2 Multilateral / EDT (%) 10.3 13.2 15.2 40.7 40.8 40.9 46.9 47.7 49.9 50.9 461 SIERRA LEONE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 61 404 940 1,023 1,093 1,066 1,006 1,121 1,262 1,419 Public and publicly guaranteed 61 404 940 1,023 1,093 1,066 1,006 1,121 1,262 1,419 Official creditors 34 247 508 934 1,004 976 1,000 1,120 1,261 1,407 Multilateral 6 62 182 489 537 531 576 617 722 821 Concessional 0 39 170 470 505 501 548 602 701 789 Bilateral 28 185 327 445 467 445 424 502 538 586 Concessional 20 138 143 263 279 278 268 340 366 407 Private creditors 27 157 431 90 90 89 5 1 1 12 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 90 90 89 5 1 1 12 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 1 0 0 0 0 0 IDA 0 29 81 270 298 299 354 407 479 543 DISBURSEMENTS 8 84 24 40 46 15 77 83 66 44 Public and publicly guaranteed 8 84 24 40 46 15 77 83 66 44 Official creditors 4 42 20 40 46 15 77 83 66 44 Multilateral 3 9 1 40 41 15 74 83 63 41 Concessional 0 5 1 40 28 13 74 83 63 36 Bilateral 1 33 19 0 6 0 3 0 3 3 Concessional 1 28 19 0 6 0 3 0 3 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 27 21 9 70 69 44 24 PRINCIPAL REPAYMENTS 11 34 7 7 14 7 10 9 12 13 Public and publicly guaranteed 11 34 7 7 14 7 10 9 12 13 Official creditors 1 4 7 7 14 7 10 9 12 13 Multilateral 0 1 2 3 9 4 7 5 5 5 Concessional 0 0 0 3 8 3 6 5 4 4 Bilateral 1 3 5 4 4 2 2 4 7 8 Concessional 1 2 2 3 1 0 0 0 1 2 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 0 1 1 0 0 0 0 IDA 0 0 0 1 3 2 2 2 1 0 NET FLOWS ON DEBT -3 50 17 33 33 9 67 74 54 31 Public and publicly guaranteed -3 50 17 33 33 9 67 74 54 31 Official creditors 3 38 13 33 33 9 67 74 54 31 Multilateral 3 8 -1 37 32 11 67 78 57 36 Concessional 0 5 1 37 20 10 68 79 58 33 Bilateral 0 30 13 -4 1 -2 1 -4 -4 -5 Concessional 0 26 16 -3 4 0 3 0 2 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 0 -1 -1 0 0 0 0 IDA 0 2 0 26 19 7 68 67 43 24 462 SIERRA LEONE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 2 13 9 7 11 6 9 8 8 9 Public and publicly guaranteed 2 13 9 7 11 6 9 8 8 9 Official creditors 1 2 4 7 11 6 9 8 8 9 Multilateral 0 1 2 2 5 3 4 3 3 3 Concessional 0 0 1 2 5 3 3 3 2 3 Bilateral 1 1 2 5 6 3 5 5 5 6 Concessional 1 0 1 3 0 0 0 0 1 2 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 1 3 2 2 3 1 2 NET TRANSFERS ON DEBT -5 37 7 26 22 3 59 66 46 21 Public and publicly guaranteed -5 37 7 26 22 3 59 66 46 21 Official creditors 2 36 9 26 22 3 59 66 46 22 Multilateral 2 7 -3 35 27 8 63 75 55 32 Concessional 0 5 0 35 15 7 65 76 56 30 Bilateral -1 29 12 -9 -5 -5 -5 -9 -9 -11 Concessional 0 26 15 -5 4 0 2 0 2 0 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 0 -1 -1 0 0 0 0 IDA 0 2 0 25 16 5 66 65 42 23 DEBT SERVICE (LTDS) 13 47 16 14 24 12 19 17 20 23 Public and publicly guaranteed 13 47 16 14 24 12 19 17 20 23 Official creditors 2 6 11 14 24 12 19 17 20 22 Multilateral 0 2 4 5 14 7 11 8 8 8 Concessional 0 0 1 5 13 6 10 8 7 6 Bilateral 2 4 7 9 10 5 8 9 12 14 Concessional 2 2 4 5 1 0 1 0 1 3 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 0 1 1 0 0 0 0 IDA 0 0 0 2 6 4 4 5 2 2 UNDISBURSED DEBT 24 116 164 163 156 131 121 109 98 201 Official creditors 22 95 164 163 156 131 121 109 98 201 Private creditors 2 21 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 20 176 313 732 784 779 816 941 1,066 1,196 Variable rate LDOD 6 0 8 11 11 11 10 23 26 28 Public sector LDOD 61 358 608 939 1,009 982 1,006 1,121 1,262 1,419 Private sector LDOD 0 46 332 84 84 84 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 15.1 15.4 15.9 Deutsche mark 11.0 13.9 3.1 1.3 1.3 1.2 1.1 .. .. .. French franc 19.1 2.4 3.9 2.3 2.2 2.0 1.9 .. .. .. Japanese yen 0.0 4.2 4.8 5.9 6.2 7.2 6.8 8.8 8.6 8.6 Pound sterling 39.0 8.8 1.4 0.6 0.6 0.6 0.6 0.4 0.3 0.4 Swiss franc 0.8 9.4 5.3 2.4 2.4 2.1 2.2 1.7 1.7 1.7 U.S.dollars 16.9 32.4 54.9 45.1 45.1 46.3 46.3 50.0 49.6 48.9 Multiple currency 10.3 3.5 3.5 11.2 11.3 11.4 11.8 10.3 9.9 9.6 Special drawing rights 0.0 0.0 7.2 9.3 9.3 9.5 9.5 8.0 7.5 7.1 All other currencies 2.9 25.4 15.9 21.9 21.7 19.7 19.8 5.7 7.0 7.7 463 SIERRA LEONE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 0 55 1 0 0 168 15 17 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 47 1 0 0 34 7 3 Official .. .. 0 46 1 0 0 34 7 3 Private .. .. 0 1 0 0 0 0 0 0 Interest rescheduled .. .. 0 11 0 0 0 23 5 4 Official .. .. 0 11 0 0 0 23 5 4 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 0 0 0 0 0 26 11 20 Memo: interest forgiven .. .. 0 3 0 0 0 19 6 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 -42 114 -16 -70 66 153 164 Net flows on debt -8 54 12 24 56 13 57 65 85 51 Net change in interest arrears .. .. 53 1 13 11 10 -34 -1 5 Interest capitalized .. .. 0 11 0 0 0 23 5 4 Debt forgiveness or reduction .. .. 0 0 0 0 0 -26 -11 -20 Cross-currency valuation .. .. 44 -80 24 -38 -47 -35 92 110 Residual .. .. -2 2 20 -3 -91 73 -16 14 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 2.9 5.3 2.3 0.0 2.6 0.0 0.8 0.7 1.4 0.7 Maturity (years) 26.7 25.5 26.6 0.0 30.6 1.3 39.8 39.5 35.8 39.0 Grace period (years) 5.6 5.9 8.9 0.0 5.7 0.3 10.3 11.5 7.6 9.7 Grant element (%) 49.9 32.8 60.9 0.0 54.8 8.3 80.6 81.3 69.9 79.3 Official creditors Interest (%) 2.1 4.7 1.1 0.0 2.6 0.0 0.8 0.7 1.4 0.7 Maturity (years) 33.0 30.3 30.6 0.0 30.6 1.3 39.8 39.5 35.8 39.0 Grace period (years) 6.8 7.7 10.2 0.0 5.7 0.3 10.3 11.5 7.6 9.7 Grant element (%) 61.6 40.4 71.2 0.0 54.8 8.3 80.6 81.3 69.9 79.3 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 0 34 2 65 79 50 131 Official creditors 19 49 23 0 34 2 65 79 50 131 Private creditors 6 19 4 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 57 38 29 24 19 12 8 5 4 2 Principal 65 56 51 46 48 49 50 51 53 47 Interest 27 26 25 24 22 21 20 18 17 16 Official creditors Disbursements 57 38 29 24 19 12 8 5 4 2 Principal 65 56 51 46 48 49 50 51 53 46 Interest 26 26 25 24 22 21 20 18 17 15 Bilateral creditors Disbursements 2 2 1 1 0 0 0 0 0 0 Principal 37 38 32 27 28 28 27 27 28 20 Interest 19 19 18 17 16 15 13 12 11 10 Multilateral creditors Disbursements 54 36 28 23 19 12 8 5 4 2 Principal 28 18 19 19 20 21 22 23 25 26 Interest 7 7 7 7 7 6 6 6 6 6 Private creditors 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 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 0 0 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 464 SLOVAK REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 9,803 13,369 12,575 12,140 11,154 13,112 18,379 Long-term debt (LDOD) .. .. .. 5,450 8,575 9,737 9,725 8,081 8,875 10,344 Public and publicly guaranteed .. .. .. 4,450 5,417 5,958 6,304 5,531 4,295 4,508 Private nonguaranteed .. .. .. 1,000 3,157 3,779 3,421 2,550 4,580 5,837 Use of IMF credit .. .. .. 249 190 132 0 0 0 0 Short-term debt .. .. .. 4,104 4,605 2,706 2,415 3,073 4,237 8,034 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 25 41 244 36 42 50 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 25 41 244 36 42 50 Memo: export credits .. .. .. 595 669 641 319 322 286 365 TOTAL DEBT FLOWS Disbursements .. .. .. 2,245 3,430 2,684 2,004 726 3,861 3,570 Long-term debt .. .. .. 2,245 3,430 2,684 2,004 726 3,861 3,570 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 1,191 1,441 1,185 2,022 1,833 2,400 2,840 Long-term debt .. .. .. 1,140 1,374 1,133 1,895 1,833 2,400 2,840 IMF repurchases .. .. .. 52 68 52 127 0 0 0 Net flows on debt .. .. .. 2,212 2,490 -399 -309 -449 1,541 3,042 of which short-term debt .. .. .. 1,158 500 -1,899 -291 658 171 2,312 Interest payments (INT) .. .. .. 473 693 715 768 813 1,011 652 Long-term debt .. .. .. 254 441 506 569 687 909 516 IMF charges .. .. .. 13 10 6 6 0 0 0 Short-term debt .. .. .. 206 242 202 194 127 102 136 Net transfers on debt .. .. .. 1,739 1,797 -1,114 -1,077 -1,262 564 2,390 Total debt service paid (TDS) .. .. .. 1,664 2,134 1,899 2,790 2,646 3,411 3,492 Long-term debt .. .. .. 1,393 1,814 1,639 2,464 2,519 3,309 3,356 IMF repurchases and charges .. .. .. 65 78 58 133 0 0 0 Short-term debt (interest only) .. .. .. 206 242 202 194 127 102 136 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 1,415 2,637 2,010 2,045 739 5,717 1,478 Net flow of long-term debt (ex. IMF) .. .. .. 1,105 2,057 1,552 109 -1,107 1,462 730 Foreign direct investment (net) .. .. .. 174 562 354 1,925 1,584 4,123 571 Portfolio equity flows .. .. .. 102 -35 47 -53 184 10 59 Grants (excluding technical coop.) .. .. .. 33 53 57 63 78 122 118 Memo: technical coop. grants .. .. .. 23 30 29 16 17 29 31 official net resource flows .. .. .. 297 241 339 33 138 44 -47 private net resource flows .. .. .. 1,117 2,396 1,671 2,012 601 5,673 1,525 NET TRANSFERS .. .. .. 1,158 2,137 1,453 1,433 -79 4,654 784 Interest on long-term debt .. .. .. 254 441 506 569 687 909 516 Profit remittances on FDI .. .. .. 3 60 51 43 131 154 178 Memo: official net transfers .. .. .. 257 173 284 -25 57 -12 -105 private net transfers .. .. .. 901 1,964 1,169 1,458 -135 4,666 889 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 21,079 22,022 20,079 19,865 20,575 23,728 32,399 Exports of goods, serv. & inc. (XGS) .. .. .. 12,131 13,450 12,369 14,405 15,476 17,614 26,148 Worker remit. & comp. of employees .. .. .. 29 24 20 18 24 24 425 Imports of goods & services (MGS) .. .. .. 14,258 15,942 13,722 15,219 17,429 19,767 26,675 International reserves (RES) .. .. .. 3,605 3,240 3,745 4,376 4,453 9,196 12,149 Current account balance .. .. .. -1,961 -2,126 -1,155 -694 .. -1,955 -282 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 80.8 99.4 101.7 84.3 72.1 74.4 70.3 EDT / GNI (%) .. .. .. 46.5 60.7 62.6 61.1 54.2 55.3 56.7 TDS / XGS (%) .. .. .. 13.7 15.9 15.4 19.4 17.1 19.4 13.4 INT / XGS (%) .. .. .. 3.9 5.2 5.8 5.3 5.3 5.7 2.5 INT / GNI (%) .. .. .. 2.2 3.1 3.6 3.9 4.0 4.3 2.0 RES / EDT (%) .. .. .. 36.8 24.2 29.8 36.0 39.9 70.1 66.1 RES / MGS (months) .. .. .. 3.0 2.4 3.3 3.5 3.1 5.6 5.5 Short-term / EDT (%) .. .. .. 41.9 34.4 21.5 19.9 27.6 32.3 43.7 Concessional / EDT (%) .. .. .. 2.7 2.4 3.0 2.7 2.4 2.0 0.4 Multilateral / EDT (%) .. .. .. 5.3 5.0 6.2 5.3 6.4 6.1 5.4 465 SLOVAK REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 5,450 8,575 9,737 9,725 8,081 8,875 10,344 Public and publicly guaranteed .. .. .. 4,450 5,417 5,958 6,304 5,531 4,295 4,508 Official creditors .. .. .. 836 1,098 1,335 1,136 1,131 1,213 1,238 Multilateral .. .. .. 517 665 785 649 714 802 995 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 319 434 550 487 417 411 243 Concessional .. .. .. 264 318 376 323 268 262 79 Private creditors .. .. .. 3,614 4,319 4,623 5,168 4,400 3,082 3,270 Bonds .. .. .. 1,120 1,712 2,351 2,780 2,379 2,512 2,814 Commercial banks .. .. .. 575 832 632 900 694 478 448 Other private .. .. .. 1,919 1,775 1,639 1,487 1,327 93 7 Private nonguaranteed .. .. .. 1,000 3,157 3,779 3,421 2,550 4,580 5,837 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1,000 3,157 3,779 3,421 2,550 4,580 5,837 Memo: IBRD .. .. .. 227 239 219 184 205 204 293 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 2,245 3,430 2,684 2,004 726 3,861 3,570 Public and publicly guaranteed .. .. .. 887 1,721 1,194 1,013 244 36 1,043 Official creditors .. .. .. 302 230 342 88 152 36 153 Multilateral .. .. .. 120 147 232 51 145 33 126 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 181 83 111 37 7 3 27 Concessional .. .. .. 166 21 19 0 0 1 9 Private creditors .. .. .. 585 1,492 851 925 92 0 890 Bonds .. .. .. 162 1,114 782 748 0 0 848 Commercial banks .. .. .. 383 371 31 177 92 0 42 Other private .. .. .. 40 7 39 0 0 0 0 Private nonguaranteed .. .. .. 1,358 1,709 1,491 991 481 3,825 2,527 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 1,358 1,709 1,491 991 481 3,825 2,527 Memo: IBRD .. .. .. 13 15 3 1 54 0 81 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 1,140 1,374 1,133 1,895 1,833 2,400 2,840 Public and publicly guaranteed .. .. .. 275 900 416 567 624 597 1,502 Official creditors .. .. .. 38 41 61 118 92 114 318 Multilateral .. .. .. 18 31 44 95 51 54 79 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 20 10 17 23 41 60 239 Concessional .. .. .. 0 3 5 12 15 32 207 Private creditors .. .. .. 238 859 356 449 532 483 1,184 Bonds .. .. .. 10 570 5 199 283 189 973 Commercial banks .. .. .. 42 134 185 95 88 266 121 Other private .. .. .. 185 155 166 155 161 28 90 Private nonguaranteed .. .. .. 865 473 717 1,327 1,208 1,803 1,338 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 865 473 717 1,327 1,208 1,803 1,338 Memo: IBRD .. .. .. 15 17 20 23 22 22 24 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 1,105 2,057 1,552 109 -1,107 1,462 730 Public and publicly guaranteed .. .. .. 612 821 778 446 -380 -561 -459 Official creditors .. .. .. 264 188 282 -30 60 -78 -165 Multilateral .. .. .. 103 115 188 -44 94 -21 48 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 162 73 94 13 -34 -57 -213 Concessional .. .. .. 166 19 14 -12 -15 -31 -199 Private creditors .. .. .. 348 633 496 476 -440 -483 -294 Bonds .. .. .. 152 543 777 550 -283 -189 -125 Commercial banks .. .. .. 342 237 -154 81 4 -266 -79 Other private .. .. .. -146 -148 -127 -155 -161 -28 -90 Private nonguaranteed .. .. .. 493 1,236 774 -337 -727 2,023 1,189 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 493 1,236 774 -337 -727 2,023 1,189 Memo: IBRD .. .. .. -2 -2 -18 -22 32 -22 56 IDA .. .. .. 0 0 0 0 0 0 0 466 SLOVAK REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 254 441 506 569 687 909 516 Public and publicly guaranteed .. .. .. 191 251 285 317 337 281 296 Official creditors .. .. .. 40 68 55 58 81 56 58 Multilateral .. .. .. 30 52 36 38 38 37 44 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 10 17 19 20 44 19 14 Concessional .. .. .. 5 5 10 11 9 10 6 Private creditors .. .. .. 151 183 230 259 256 224 238 Bonds .. .. .. 72 75 124 160 168 187 212 Commercial banks .. .. .. 17 49 45 47 43 28 17 Other private .. .. .. 62 58 61 51 45 10 8 Private nonguaranteed .. .. .. 63 189 221 252 349 628 220 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 63 189 221 252 349 628 220 Memo: IBRD .. .. .. 16 14 14 11 10 9 10 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 852 1,616 1,046 -460 -1,794 553 214 Public and publicly guaranteed .. .. .. 421 570 493 129 -717 -842 -755 Official creditors .. .. .. 224 120 227 -88 -21 -134 -223 Multilateral .. .. .. 72 64 152 -82 57 -58 4 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 152 56 75 -7 -78 -76 -227 Concessional .. .. .. 161 13 4 -23 -24 -42 -205 Private creditors .. .. .. 197 450 266 217 -696 -707 -532 Bonds .. .. .. 80 468 653 389 -452 -376 -337 Commercial banks .. .. .. 325 188 -199 34 -39 -293 -96 Other private .. .. .. -207 -206 -188 -206 -206 -38 -98 Private nonguaranteed .. .. .. 431 1,047 553 -589 -1,076 1,394 968 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 431 1,047 553 -589 -1,076 1,394 968 Memo: IBRD .. .. .. -18 -16 -31 -33 21 -31 47 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 1,393 1,814 1,639 2,464 2,519 3,309 3,356 Public and publicly guaranteed .. .. .. 466 1,152 701 884 962 878 1,798 Official creditors .. .. .. 78 110 115 176 173 171 376 Multilateral .. .. .. 48 83 79 133 89 91 123 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 29 27 36 43 85 80 253 Concessional .. .. .. 5 8 15 23 24 43 213 Private creditors .. .. .. 388 1,042 585 708 788 707 1,422 Bonds .. .. .. 82 646 129 359 452 376 1,185 Commercial banks .. .. .. 59 183 230 143 131 293 138 Other private .. .. .. 247 213 227 206 206 38 98 Private nonguaranteed .. .. .. 927 662 938 1,580 1,558 2,431 1,559 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 927 662 938 1,580 1,558 2,431 1,559 Memo: IBRD .. .. .. 30 31 34 34 32 31 34 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 764 412 343 292 363 421 560 Official creditors .. .. .. 372 290 296 263 338 411 544 Private creditors .. .. .. 392 122 48 29 25 10 16 Memorandum items Concessional LDOD .. .. .. 264 318 376 323 268 262 79 Variable rate LDOD .. .. .. 2,178 4,758 5,355 4,897 3,963 5,694 7,964 Public sector LDOD .. .. .. 4,238 5,171 5,762 6,199 5,457 4,219 4,414 Private sector LDOD .. .. .. 1,212 3,404 3,975 3,526 2,623 4,657 5,931 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 47.5 66.3 84.0 Deutsche mark .. .. .. 7.1 9.1 6.2 4.7 .. .. .. French franc .. .. .. 1.4 1.0 0.7 3.9 .. .. .. Japanese yen .. .. .. 5.9 8.3 8.8 8.7 6.3 8.2 1.7 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.5 0.5 0.2 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 17.4 25.8 22.3 17.2 17.1 17.1 8.4 Multiple currency .. .. .. 62.1 38.7 32.2 27.5 28.0 6.9 5.7 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 5.5 16.7 29.6 38.1 1.0 1.4 0.2 467 SLOVAK REPUBLIC (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 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 .. .. .. 2,128 3,567 -794 -435 -987 1,958 5,266 Net flows on debt .. .. .. 2,212 2,490 -399 -309 -449 1,541 3,042 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 .. .. .. -115 100 -154 -235 -229 549 664 Residual .. .. .. 32 977 -241 109 -309 -1,216 75 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 5.5 7.7 6.9 7.1 5.2 4.6 1.6 Maturity (years) .. .. .. 8.7 5.3 9.8 8.0 11.8 20.0 4.6 Grace period (years) .. .. .. 4.1 4.3 4.8 6.9 4.3 6.1 2.3 Grant element (%) .. .. .. 19.3 7.7 16.0 13.1 23.4 35.3 20.2 Official creditors Interest (%) .. .. .. 3.9 6.1 4.6 7.4 5.0 4.6 1.4 Maturity (years) .. .. .. 13.8 11.9 20.4 11.1 15.6 20.0 16.0 Grace period (years) .. .. .. 4.9 2.8 4.9 3.8 5.3 6.1 3.6 Grant element (%) .. .. .. 33.9 18.5 35.0 12.1 29.8 35.3 45.2 Private creditors Interest (%) .. .. .. 6.4 7.9 8.0 7.1 5.7 0.0 1.6 Maturity (years) .. .. .. 5.8 4.6 4.9 7.7 1.5 0.0 2.0 Grace period (years) .. .. .. 3.6 4.4 4.8 7.2 1.5 0.0 2.0 Grant element (%) .. .. .. 10.9 6.6 7.2 13.2 5.7 0.0 14.6 Memorandum items Commitments .. .. .. 771 1,346 1,161 1,004 338 52 1,097 Official creditors .. .. .. 282 131 371 85 248 52 203 Private creditors .. .. .. 489 1,215 790 920 90 0 894 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 242 124 99 40 24 15 7 4 2 1 Principal 1,500 1,845 1,180 1,118 797 727 1,348 687 666 644 Interest 351 277 240 198 157 138 120 56 40 24 Official creditors Disbursements 231 120 98 40 24 15 7 4 2 1 Principal 162 164 178 192 175 145 137 110 95 83 Interest 45 44 41 36 31 26 22 18 15 12 Bilateral creditors Disbursements 50 31 18 10 4 2 1 0 0 0 Principal 42 42 45 43 36 23 19 9 7 7 Interest 8 7 6 5 4 3 3 2 2 2 Multilateral creditors Disbursements 181 89 80 30 20 13 6 4 2 1 Principal 119 122 133 149 139 122 118 101 89 77 Interest 38 37 34 31 26 23 19 15 12 10 Private creditors Disbursements 11 5 1 0 0 0 0 0 0 0 Principal 1,338 1,682 1,002 927 622 582 1,211 578 570 561 Interest 305 232 199 162 126 112 98 38 25 12 Commercial banks Disbursements 11 5 1 0 0 0 0 0 0 0 Principal 130 146 50 50 27 6 1 1 1 1 Interest 14 9 4 2 1 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 1,208 1,535 952 876 595 576 1,210 577 569 560 Interest 292 224 196 159 125 111 98 38 25 12 468 SOLOMON ISLANDS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 19.4 120.5 139.9 154.6 165.0 155.4 162.7 180.4 185.7 Long-term debt (LDOD) .. 17.4 103.2 137.7 151.7 160.3 152.1 158.8 175.5 174.0 Public and publicly guaranteed .. 17.4 103.2 96.5 113.7 125.3 120.7 130.9 150.2 151.3 Private nonguaranteed .. 0.0 0.0 41.2 38.1 35.0 31.5 28.0 25.3 22.7 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 2.2 2.9 4.7 3.2 3.8 4.9 11.7 of which interest arrears on LDOD .. 0.0 0.1 2.1 1.7 1.8 1.8 2.4 3.9 6.7 Official creditors .. 0.0 0.1 1.6 1.0 1.1 0.4 0.9 2.3 1.9 Private creditors .. 0.0 0.0 0.5 0.7 0.7 1.4 1.5 1.6 4.8 Memo: principal arrears on LDOD .. 0.0 0.2 5.0 4.1 4.3 3.3 4.8 6.0 7.4 Official creditors .. 0.0 0.2 4.0 3.1 3.2 1.0 2.1 2.8 3.8 Private creditors .. 0.0 0.0 1.0 1.1 1.1 2.3 2.8 3.2 3.6 TOTAL DEBT FLOWS Disbursements .. 4.0 5.2 5.0 18.6 9.0 3.4 17.6 10.3 0.4 Long-term debt .. 4.0 5.2 5.0 18.6 9.0 3.4 17.6 10.3 0.4 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 4.4 7.8 7.3 6.2 4.5 3.3 5.5 Long-term debt .. 0.0 7.0 4.4 7.8 7.3 6.2 4.5 3.3 5.5 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 -0.1 11.8 3.5 -4.4 13.1 6.5 -1.1 of which short-term debt .. 1.0 16.5 -0.7 1.0 1.8 -1.5 0.0 -0.4 4.0 Interest payments (INT) .. 0.3 3.7 1.3 4.1 3.6 2.9 2.6 2.4 3.9 Long-term debt .. 0.0 3.1 1.3 4.0 3.5 2.7 2.5 2.3 3.9 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 0.1 0.1 0.1 0.1 0.0 0.0 Net transfers on debt .. 4.7 10.1 -1.4 7.7 -0.1 -7.3 10.5 4.1 -5.0 Total debt service paid (TDS) .. 0.3 11.6 5.7 11.9 10.9 9.1 7.1 5.7 9.4 Long-term debt .. 0.0 10.1 5.7 11.9 10.9 9.0 7.0 5.7 9.4 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 0.1 0.1 0.1 0.1 0.0 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 27.3 28.7 50.4 30.1 24.3 47.2 44.0 17.9 13.4 Net flow of long-term debt (ex. IMF) .. 3.9 -1.8 0.6 10.8 1.7 -2.9 13.1 6.9 -5.1 Foreign direct investment (net) .. 2.4 10.4 33.8 8.8 9.9 1.4 -12.1 -1.4 -2.0 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.) .. 21.0 20.2 15.9 10.5 12.7 48.7 43.0 12.4 20.5 Memo: technical coop. grants .. 11.5 19.5 18.5 17.5 18.4 21.0 18.9 17.2 62.8 official net resource flows .. 24.9 21.5 20.2 24.8 17.9 49.3 59.6 21.9 18.1 private net resource flows .. 2.4 7.3 30.1 5.3 6.4 -2.1 -15.6 -4.0 -4.6 NET TRANSFERS .. 12.4 23.6 40.4 18.2 10.1 44.5 41.5 15.5 9.6 Interest on long-term debt .. 0.0 3.1 1.3 4.0 3.5 2.7 2.5 2.3 3.9 Profit remittances on FDI .. 14.9 2.0 8.6 7.8 10.6 0.0 0.0 0.0 0.0 Memo: official net transfers .. 24.9 19.9 19.9 23.3 16.6 48.5 58.8 21.1 15.6 private net transfers .. -12.5 3.7 20.6 -5.0 -6.5 -4.0 -17.4 -5.6 -6.1 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. 107.9 207.3 383.0 337.8 355.6 289.0 246.9 240.6 247.2 Exports of goods, serv. & inc. (XGS) .. 85.0 97.8 229.5 199.0 226.3 .. .. .. .. Worker remit. & comp. of employees .. 0.0 0.0 0.0 0.0 2.0 2.0 2.0 2.0 2.0 Imports of goods & services (MGS) .. 117.0 163.6 302.9 224.4 219.9 .. .. .. .. International reserves (RES) .. 29.6 17.6 36.3 49.0 51.1 32.0 19.3 18.2 37.2 Current account balance .. -12.2 -27.8 -37.9 8.1 21.5 .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 22.8 123.2 61.0 77.7 72.9 .. .. .. .. EDT / GNI (%) .. 18.0 58.1 36.5 45.8 46.4 53.8 65.9 75.0 75.1 TDS / XGS (%) .. 0.4 11.8 2.5 6.0 4.8 .. .. .. .. INT / XGS (%) .. 0.3 3.8 0.6 2.1 1.6 .. .. .. .. INT / GNI (%) .. 0.3 1.8 0.3 1.2 1.0 1.0 1.0 1.0 1.6 RES / EDT (%) .. 152.6 14.6 26.0 31.7 31.0 20.6 11.9 10.1 20.0 RES / MGS (months) .. 3.0 1.3 1.4 2.6 2.8 .. .. .. .. Short-term / EDT (%) .. 10.3 13.8 1.6 1.9 2.9 2.1 2.4 2.7 6.3 Concessional / EDT (%) .. 89.7 64.1 60.9 66.2 69.9 74.3 77.3 80.3 78.5 Multilateral / EDT (%) .. 36.7 51.0 54.4 60.7 65.4 64.6 58.8 58.1 57.8 469 SOLOMON ISLANDS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 17.4 103.2 137.7 151.7 160.3 152.1 158.8 175.5 174.0 Public and publicly guaranteed .. 17.4 103.2 96.5 113.7 125.3 120.7 130.9 150.2 151.3 Official creditors .. 17.4 89.1 92.4 109.9 121.9 117.3 127.5 145.9 147.0 Multilateral .. 7.1 61.5 76.2 93.9 107.9 100.4 95.6 104.8 107.3 Concessional .. 7.1 61.5 75.1 92.8 106.9 99.5 94.8 103.8 106.0 Bilateral .. 10.3 27.7 16.2 16.0 14.0 16.9 31.8 41.1 39.8 Concessional .. 10.3 15.8 10.2 9.6 8.4 16.0 31.0 41.1 39.8 Private creditors .. 0.0 14.1 4.2 3.8 3.4 3.4 3.4 4.2 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 3.8 3.4 3.4 3.4 4.2 4.2 Private nonguaranteed .. 0.0 0.0 41.2 38.1 35.0 31.5 28.0 25.3 22.7 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 41.2 38.1 35.0 31.5 28.0 25.3 22.7 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 29.9 32.7 39.9 38.4 37.9 40.8 44.3 DISBURSEMENTS .. 4.0 5.2 5.0 18.6 9.0 3.4 17.6 10.3 0.4 Public and publicly guaranteed .. 4.0 5.2 5.0 18.6 9.0 3.4 17.6 10.3 0.4 Official creditors .. 4.0 5.2 5.0 18.6 9.0 3.4 17.6 10.3 0.4 Multilateral .. 4.0 5.2 3.3 18.2 8.6 1.4 1.6 0.3 0.4 Concessional .. 4.0 5.2 3.3 18.2 8.6 1.4 1.6 0.3 0.4 Bilateral .. 0.0 0.0 1.7 0.4 0.4 2.0 16.1 10.0 0.0 Concessional .. 0.0 0.0 1.7 0.4 0.4 2.0 16.1 10.0 0.0 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 2.6 1.9 8.0 0.6 1.1 0.3 0.2 PRINCIPAL REPAYMENTS .. 0.0 7.0 4.4 7.8 7.3 6.2 4.5 3.3 5.5 Public and publicly guaranteed .. 0.0 7.0 0.7 4.7 4.3 2.7 1.0 0.7 2.9 Official creditors .. 0.0 3.9 0.7 4.3 3.8 2.7 1.0 0.7 2.9 Multilateral .. 0.0 0.5 0.3 3.3 1.4 1.1 0.6 0.3 2.5 Concessional .. 0.0 0.5 0.3 3.3 1.4 1.1 0.6 0.3 2.5 Bilateral .. 0.0 3.4 0.4 1.0 2.4 1.6 0.4 0.4 0.4 Concessional .. 0.0 1.4 0.4 1.0 1.4 1.6 0.4 0.4 0.4 Private creditors .. 0.0 3.1 0.0 0.4 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 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 0.0 0.4 0.4 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 3.7 3.1 3.1 3.5 3.5 2.6 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 3.7 3.1 3.1 3.5 3.5 2.6 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 0.1 0.3 0.5 NET FLOWS ON DEBT .. 3.9 -1.8 0.6 10.8 1.7 -2.9 13.1 6.9 -5.1 Public and publicly guaranteed .. 3.9 -1.8 4.3 13.9 4.8 0.6 16.6 9.5 -2.5 Official creditors .. 3.9 1.3 4.3 14.3 5.2 0.6 16.6 9.5 -2.5 Multilateral .. 4.0 4.7 3.0 15.0 7.2 0.3 1.0 -0.1 -2.1 Concessional .. 4.0 4.7 3.0 15.0 7.2 0.3 1.0 -0.1 -2.1 Bilateral .. 0.0 -3.4 1.4 -0.7 -2.0 0.3 15.7 9.6 -0.4 Concessional .. 0.0 -1.4 1.4 -0.7 -1.0 0.3 15.7 9.6 -0.4 Private creditors .. 0.0 -3.1 0.0 -0.4 -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 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 0.0 -0.4 -0.4 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 -3.7 -3.1 -3.1 -3.5 -3.5 -2.6 -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 -3.7 -3.1 -3.1 -3.5 -3.5 -2.6 -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 2.4 1.7 7.8 0.4 1.0 -0.1 -0.3 470 SOLOMON ISLANDS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 0.0 3.1 1.3 4.0 3.5 2.7 2.5 2.3 3.9 Public and publicly guaranteed .. 0.0 3.1 0.3 1.8 1.5 0.8 0.8 0.7 2.4 Official creditors .. 0.0 1.6 0.3 1.5 1.3 0.8 0.8 0.7 2.4 Multilateral .. 0.0 0.6 0.2 1.5 1.0 0.7 0.6 0.4 1.5 Concessional .. 0.0 0.6 0.2 1.5 1.0 0.7 0.6 0.4 1.5 Bilateral .. 0.0 1.0 0.1 0.0 0.2 0.1 0.2 0.3 0.9 Concessional .. 0.0 0.0 0.1 0.0 0.0 0.1 0.2 0.3 0.9 Private creditors .. 0.0 1.5 0.0 0.3 0.2 0.0 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 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 0.0 0.3 0.0 0.3 0.2 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 1.0 2.2 2.1 1.9 1.7 1.6 1.4 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 1.0 2.2 2.1 1.9 1.7 1.6 1.4 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 0.3 0.3 0.2 0.4 0.3 NET TRANSFERS ON DEBT .. 3.9 -4.9 -0.7 6.7 -1.9 -5.6 10.6 4.6 -9.0 Public and publicly guaranteed .. 3.9 -4.9 4.0 12.1 3.3 -0.2 15.9 8.8 -4.9 Official creditors .. 3.9 -0.3 4.0 12.8 3.9 -0.2 15.9 8.8 -4.9 Multilateral .. 3.9 4.1 2.7 13.5 6.2 -0.5 0.4 -0.5 -3.7 Concessional .. 3.9 4.1 2.7 13.5 6.2 -0.5 0.4 -0.5 -3.7 Bilateral .. 0.0 -4.4 1.3 -0.7 -2.3 0.2 15.5 9.3 -1.3 Concessional .. 0.0 -1.4 1.3 -0.7 -1.0 0.2 15.5 9.3 -1.3 Private creditors .. 0.0 -4.7 0.0 -0.6 -0.6 0.0 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 -3.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 0.0 -0.7 0.0 -0.6 -0.6 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 -4.6 -5.4 -5.1 -5.4 -5.3 -4.2 -4.1 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 -4.6 -5.4 -5.1 -5.4 -5.3 -4.2 -4.1 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 2.2 1.4 7.5 0.2 0.8 -0.5 -0.7 DEBT SERVICE (LTDS) .. 0.0 10.1 5.7 11.9 10.9 9.0 7.0 5.7 9.4 Public and publicly guaranteed .. 0.0 10.1 1.1 6.5 5.7 3.6 1.8 1.5 5.3 Official creditors .. 0.0 5.5 1.1 5.8 5.1 3.6 1.8 1.5 5.3 Multilateral .. 0.0 1.1 0.6 4.8 2.4 1.8 1.2 0.7 4.1 Concessional .. 0.0 1.1 0.6 4.8 2.4 1.8 1.2 0.7 4.1 Bilateral .. 0.0 4.4 0.5 1.1 2.7 1.7 0.6 0.7 1.3 Concessional .. 0.0 1.4 0.5 1.1 1.4 1.7 0.6 0.7 1.3 Private creditors .. 0.0 4.7 0.0 0.6 0.6 0.0 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 3.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other private .. 0.0 0.7 0.0 0.6 0.6 0.0 0.0 0.0 0.0 Private nonguaranteed .. 0.0 0.0 4.6 5.4 5.1 5.4 5.3 4.2 4.1 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 4.6 5.4 5.1 5.4 5.3 4.2 4.1 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 0.5 0.4 0.3 0.7 0.8 UNDISBURSED DEBT .. 12.9 25.4 13.0 22.0 26.2 15.8 27.8 18.9 20.2 Official creditors .. 12.9 10.4 13.0 22.0 26.2 15.8 27.8 18.9 20.2 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 85.3 102.4 115.3 115.5 125.8 144.9 145.8 Variable rate LDOD .. 0.0 10.9 41.2 38.1 35.0 31.5 28.0 25.3 22.7 Public sector LDOD .. 17.4 103.2 96.5 113.7 125.3 120.7 130.9 150.2 151.3 Private sector LDOD .. 0.0 0.0 41.2 38.1 35.0 31.5 28.0 25.3 22.7 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 4.9 5.1 6.1 Deutsche mark .. 0.0 3.1 0.4 0.0 0.0 0.0 .. .. .. French franc .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. Japanese yen .. 0.0 4.8 2.7 2.5 2.2 3.4 2.7 2.6 2.9 Pound sterling .. 59.1 13.1 7.0 5.6 4.4 2.9 2.3 1.2 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 .. 40.9 52.0 57.0 63.9 66.4 67.1 71.5 72.9 73.8 Multiple currency .. 0.0 7.3 11.5 10.0 10.8 9.9 8.7 8.7 8.4 Special drawing rights .. 0.0 6.3 7.2 6.3 7.5 6.7 5.3 5.5 4.7 All other currencies .. 0.0 13.4 14.3 11.6 8.8 10.0 4.6 4.1 4.2 471 SOLOMON ISLANDS (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 0.0 0.0 7.8 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 6.4 0.0 0.0 0.0 Official .. .. 0.0 0.0 0.0 0.0 6.4 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 1.4 0.0 0.0 0.0 Official .. .. 0.0 0.0 0.0 0.0 1.4 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 1.6 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 -7.5 14.6 10.4 -9.6 7.3 17.8 5.3 Net flows on debt .. 4.9 13.8 -0.1 11.8 3.5 -4.4 13.1 6.5 -1.1 Net change in interest arrears .. .. 0.1 1.5 -0.4 0.0 0.0 0.6 1.5 2.8 Interest capitalized .. .. 0.0 0.0 0.0 0.0 1.4 0.0 0.0 0.0 Debt forgiveness or reduction .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -1.6 Cross-currency valuation .. .. 6.6 -8.9 2.8 0.8 -7.0 -5.3 8.1 11.5 Residual .. .. -0.1 -0.1 0.4 6.0 0.4 -1.1 1.7 -6.3 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 1.0 2.2 0.0 3.3 1.1 0.8 2.9 0.0 0.0 Maturity (years) .. 39.8 17.7 0.0 39.7 36.1 40.0 26.6 0.0 0.0 Grace period (years) .. 10.3 11.5 0.0 10.2 9.2 10.5 4.9 0.0 0.0 Grant element (%) .. 78.4 56.9 0.0 57.7 74.0 80.9 51.5 0.0 0.0 Official creditors Interest (%) .. 1.0 2.2 0.0 3.3 1.1 0.8 2.9 0.0 0.0 Maturity (years) .. 39.8 17.7 0.0 39.7 36.1 40.0 26.6 0.0 0.0 Grace period (years) .. 10.3 11.5 0.0 10.2 9.2 10.5 4.9 0.0 0.0 Grant element (%) .. 78.4 56.9 0.0 57.7 74.0 80.9 51.5 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 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 27 14 4 35 0 0 Official creditors .. 8 3 0 27 14 4 35 0 0 Private creditors .. 0 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 3.6 5.1 3.9 2.9 2.0 1.3 0.7 0.4 0.4 0.0 Principal 7.2 8.1 7.8 8.0 10.7 9.3 9.8 8.9 8.7 8.0 Interest 3.2 3.3 3.1 2.8 2.8 2.7 2.4 2.1 1.9 1.7 Official creditors Disbursements 3.6 5.1 3.9 2.9 2.0 1.3 0.7 0.4 0.4 0.0 Principal 4.1 5.3 5.2 5.4 8.1 6.7 7.1 7.2 7.1 6.8 Interest 1.9 2.1 2.1 2.0 2.1 2.1 2.0 1.9 1.8 1.6 Bilateral creditors Disbursements 0.5 0.4 0.2 0.1 0.1 0.1 0.1 0.0 0.0 0.0 Principal 1.2 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3 Interest 1.1 1.3 1.2 1.1 1.1 1.0 0.9 0.8 0.8 0.7 Multilateral creditors Disbursements 3.1 4.8 3.7 2.7 1.8 1.2 0.6 0.4 0.4 0.0 Principal 2.9 3.0 2.9 3.1 5.8 4.4 4.8 4.9 4.8 4.5 Interest 0.8 0.8 0.9 0.8 1.0 1.1 1.1 1.1 1.0 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 3.0 2.8 2.6 2.6 2.6 2.6 2.6 1.6 1.6 1.2 Interest 1.3 1.2 1.0 0.8 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 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 3.0 2.8 2.6 2.6 2.6 2.6 2.6 1.6 1.6 1.2 Interest 1.3 1.2 1.0 0.8 0.7 0.5 0.4 0.2 0.2 0.1 472 SOMALIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 77 660 2,370 2,561 2,635 2,606 2,562 2,563 2,689 2,838 Long-term debt (LDOD) 77 595 1,926 1,852 1,886 1,859 1,825 1,795 1,860 1,936 Public and publicly guaranteed 77 595 1,926 1,852 1,886 1,859 1,825 1,795 1,860 1,936 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 18 159 151 158 154 146 141 152 166 Short-term debt 0 47 285 558 591 593 591 627 677 735 of which interest arrears on LDOD 0 8 255 534 562 564 569 603 644 702 Official creditors 0 8 249 518 546 549 554 589 628 686 Private creditors 0 0 5 16 16 15 15 14 15 17 Memo: principal arrears on LDOD 0 13 674 1,180 1,227 1,232 1,241 1,295 1,370 1,451 Official creditors 0 13 646 1,145 1,191 1,198 1,208 1,263 1,336 1,415 Private creditors 0 0 28 34 35 34 33 32 34 36 Memo: export credits 0 0 357 390 392 445 468 515 548 558 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 -7 5 0 -7 2 9 0 of which short-term debt 0 13 18 -7 5 0 -7 2 9 0 Interest payments (INT) 0 2 5 0 0 1 0 0 0 0 Long-term debt 0 2 4 0 0 0 0 0 0 0 IMF charges 0 0 1 0 0 1 0 0 0 0 Short-term debt 0 0 0 0 0 0 0 0 0 0 Net transfers on debt 1 135 53 -7 5 -1 -7 2 9 0 Total debt service paid (TDS) 3 13 11 0 0 1 0 0 0 0 Long-term debt 1 9 7 0 0 0 0 0 0 0 IMF repurchases and charges 2 4 4 0 0 1 0 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 68 68 92 87 120 178 156 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 0 -1 0 0 0 1 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 8 274 323 67 68 93 86 120 178 155 Memo: technical coop. grants 11 93 94 26 16 24 19 32 17 22 official net resource flows 13 354 366 67 68 93 86 120 178 155 private net resource flows 4 27 6 1 0 -1 0 0 0 1 NET TRANSFERS 16 378 368 68 68 92 87 120 178 156 Interest on long-term debt 0 2 4 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 12 352 362 67 68 93 86 120 178 155 private net transfers 4 27 6 1 0 -1 0 0 0 1 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 21.8 22.4 22.7 23.1 24.5 25.2 25.9 Concessional / EDT (%) 91.0 82.8 65.7 58.7 58.1 58.2 58.1 57.0 56.3 55.4 Multilateral / EDT (%) 9.2 24.1 31.8 28.2 28.1 28.0 27.7 27.0 27.1 27.2 473 SOMALIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 77 595 1,926 1,852 1,886 1,859 1,825 1,795 1,860 1,936 Public and publicly guaranteed 77 595 1,926 1,852 1,886 1,859 1,825 1,795 1,860 1,936 Official creditors 75 567 1,889 1,818 1,851 1,826 1,792 1,763 1,826 1,900 Multilateral 7 159 754 723 741 729 709 692 727 771 Concessional 7 147 735 706 723 712 693 676 710 752 Bilateral 68 408 1,136 1,095 1,110 1,097 1,083 1,071 1,099 1,129 Concessional 63 400 822 797 808 804 794 784 803 822 Private creditors 2 28 37 34 35 34 33 32 34 36 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 34 35 34 33 32 34 36 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 72 419 406 416 409 396 386 405 431 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 0 474 SOMALIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0 2 4 0 0 0 0 0 0 0 Public and publicly guaranteed 0 2 4 0 0 0 0 0 0 0 Official creditors 0 2 4 0 0 0 0 0 0 0 Multilateral 0 1 4 0 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 0 0 0 0 0 0 0 Public and publicly guaranteed 3 104 39 0 0 0 0 0 0 0 Official creditors 4 78 39 0 0 0 0 0 0 0 Multilateral 0 31 39 0 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 0 0 0 0 0 0 0 Public and publicly guaranteed 1 9 7 0 0 0 0 0 0 0 Official creditors 0 9 7 0 0 0 0 0 0 0 Multilateral 0 6 7 0 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 67 565 497 219 226 12 12 12 12 13 Official creditors 67 494 497 219 226 12 12 12 12 13 Private creditors 0 70 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 70 546 1,557 1,503 1,531 1,516 1,487 1,461 1,513 1,573 Variable rate LDOD 0 0 20 20 20 20 20 20 20 20 Public sector LDOD 77 567 1,926 1,852 1,886 1,859 1,825 1,795 1,860 1,936 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 5.8 Deutsche mark 18.6 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc 0.0 0.0 4.7 4.2 4.4 3.8 3.6 .. .. .. Japanese yen 0.0 0.0 2.4 2.6 2.9 3.3 3.0 2.6 2.8 3.0 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 51.8 51.4 51.7 52.0 52.3 51.5 50.8 Multiple currency 47.8 16.7 7.2 7.2 7.2 7.0 7.1 7.2 7.3 7.3 Special drawing rights 0.0 0.0 1.3 1.3 1.3 1.3 1.3 1.2 1.3 1.3 All other currencies 9.0 48.8 33.7 32.8 32.7 32.7 32.9 32.1 31.9 31.6 475 SOMALIA (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 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 -82 74 -29 -44 1 126 149 Net flows on debt 2 137 58 -7 5 0 -7 2 9 0 Net change in interest arrears .. .. 71 0 28 2 5 35 40 59 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 -89 2 -33 -36 -24 59 62 Residual .. .. 52 13 39 2 -6 -12 18 28 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 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 36 35 29 31 31 31 32 31 29 28 Interest 9 9 8 8 7 6 6 5 5 4 Official creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 36 35 29 31 31 31 32 31 29 28 Interest 9 9 8 8 7 6 6 5 5 4 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 14 13 13 13 13 13 13 12 10 9 Interest 5 5 4 4 4 3 3 2 2 2 Multilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 22 22 15 18 18 18 19 19 19 19 Interest 4 4 4 4 4 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 0 476 SOUTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 25,272 24,753 23,907 24,861 24,050 25,041 27,807 Long-term debt (LDOD) .. .. .. 13,930 13,309 13,092 15,308 15,695 17,641 20,448 Public and publicly guaranteed .. .. .. 11,517 10,668 8,173 9,088 7,941 9,427 9,120 Private nonguaranteed .. .. .. 2,413 2,641 4,919 6,220 7,754 8,213 11,328 Use of IMF credit 0 0 0 415 0 0 0 0 0 0 Short-term debt .. .. .. 10,928 11,444 10,815 9,553 8,355 7,400 7,359 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 .. .. .. 3,452 1,219 879 811 668 789 861 TOTAL DEBT FLOWS Disbursements .. .. .. 4,630 2,046 2,732 3,611 3,603 4,033 5,664 Long-term debt .. .. .. 4,630 2,046 2,732 3,611 3,603 4,033 5,664 IMF purchases 0 0 0 0 0 0 0 0 0 0 Principal repayments .. .. .. 5,103 2,859 2,844 2,609 3,172 3,596 2,951 Long-term debt .. .. .. 4,680 2,442 2,844 2,609 3,172 3,596 2,951 IMF repurchases 0 0 0 423 417 0 0 0 0 0 Net flows on debt .. .. .. -377 -297 -698 1,186 -767 -518 2,671 of which short-term debt .. .. .. 96 516 -550 272 -1,198 -955 -41 Interest payments (INT) .. .. .. 1,439 1,530 1,446 1,252 1,183 1,096 1,359 Long-term debt .. .. .. 850 892 814 743 860 859 1,138 IMF charges 0 0 0 34 15 1 0 0 0 0 Short-term debt .. .. .. 555 622 631 509 322 236 221 Net transfers on debt .. .. .. -1,816 -1,827 -2,144 -65 -1,950 -1,614 1,312 Total debt service paid (TDS) .. .. .. 6,542 4,388 4,290 3,861 4,355 4,691 4,310 Long-term debt .. .. .. 5,530 3,334 3,658 3,352 4,032 4,455 4,090 IMF repurchases and charges 0 0 0 456 432 1 0 0 0 0 Short-term debt (interest only) .. .. .. 555 622 631 509 322 236 221 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 9,433 9,034 10,639 6,358 6,950 1,068 4,524 Net flow of long-term debt (ex. IMF) .. .. .. -51 -396 -111 1,002 431 437 2,712 Foreign direct investment (net) .. .. .. 3,811 550 1,503 969 7,270 735 820 Portfolio equity flows .. .. .. 5,473 8,632 9,001 4,169 -962 -388 685 Grants (excluding technical coop.) .. .. .. 200 248 246 219 211 284 306 Memo: technical coop. grants .. .. .. 244 210 213 225 221 221 265 official net resource flows .. .. .. 200 248 283 310 215 288 375 private net resource flows .. .. .. 9,233 8,787 10,356 6,048 6,735 780 4,148 NET TRANSFERS .. .. .. 7,762 7,337 8,713 3,286 3,208 -2,156 372 Interest on long-term debt .. .. .. 850 892 814 743 860 859 1,138 Profit remittances on FDI .. .. .. 821 805 1,112 2,329 2,882 2,365 3,014 Memo: official net transfers .. .. .. 200 248 283 309 204 285 368 private net transfers .. .. .. 7,562 7,089 8,430 2,978 3,004 -2,441 4 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 145,603 130,530 127,907 124,847 110,445 103,537 156,501 Exports of goods, serv. & inc. (XGS) .. .. .. 37,964 36,134 35,683 39,402 38,122 38,274 48,055 Worker remit. & comp. of employees .. .. .. 206 283 327 344 297 288 436 Imports of goods & services (MGS) .. .. .. 39,463 37,525 35,284 38,771 37,327 37,107 48,693 International reserves (RES) .. .. .. 5,957 5,508 7,497 7,702 7,627 7,817 8,154 Current account balance .. .. .. -2,223 -2,134 -528 -295 56 610 -1,456 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 66.6 68.5 67.0 63.1 63.1 65.4 57.9 EDT / GNI (%) .. .. .. 17.4 19.0 18.7 19.9 21.8 24.2 17.8 TDS / XGS (%) .. .. .. 17.2 12.1 12.0 9.8 11.4 12.3 9.0 INT / XGS (%) .. .. .. 3.8 4.2 4.1 3.2 3.1 2.9 2.8 INT / GNI (%) .. .. .. 1.0 1.2 1.1 1.0 1.1 1.1 0.9 RES / EDT (%) .. .. .. 23.6 22.3 31.4 31.0 31.7 31.2 29.3 RES / MGS (months) .. .. .. 1.8 1.8 2.5 2.4 2.5 2.5 2.0 Short-term / EDT (%) .. .. .. 43.2 46.2 45.2 38.4 34.7 29.6 26.5 Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. .. .. 0.0 0.0 0.1 0.6 0.5 0.5 0.8 477 SOUTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 13,930 13,309 13,092 15,308 15,695 17,641 20,448 Public and publicly guaranteed .. .. .. 11,517 10,668 8,173 9,088 7,941 9,427 9,120 Official creditors .. .. .. 0 0 31 145 122 129 212 Multilateral .. .. .. 0 0 31 145 122 129 212 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 .. .. .. 11,517 10,668 8,142 8,943 7,819 9,298 8,909 Bonds .. .. .. 3,631 3,649 3,969 4,749 4,847 6,903 7,187 Commercial banks .. .. .. 3,327 2,638 1,842 1,973 839 813 487 Other private .. .. .. 4,559 4,381 2,331 2,221 2,133 1,582 1,234 Private nonguaranteed .. .. .. 2,413 2,641 4,919 6,220 7,754 8,213 11,328 Bonds .. .. .. 395 786 395 1,110 2,307 3,573 8,180 Commercial banks and other .. .. .. 2,018 1,855 4,524 5,110 5,447 4,640 3,148 Memo: IBRD 0 0 0 0 0 1 3 7 12 16 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 4,630 2,046 2,732 3,611 3,603 4,033 5,664 Public and publicly guaranteed .. .. .. 3,004 1,290 2,004 1,597 1,603 2,479 1,490 Official creditors .. .. .. 0 0 37 91 4 7 76 Multilateral .. .. .. 0 0 37 91 4 7 76 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 .. .. .. 3,004 1,290 1,967 1,506 1,599 2,472 1,414 Bonds .. .. .. 1,278 0 1,627 765 1,222 2,472 1,414 Commercial banks .. .. .. 726 840 240 420 0 0 0 Other private .. .. .. 1,000 450 100 321 377 0 0 Private nonguaranteed .. .. .. 1,626 756 728 2,014 2,000 1,554 4,174 Bonds .. .. .. 45 373 0 712 1,250 1,554 4,174 Commercial banks and other .. .. .. 1,581 383 728 1,302 750 0 0 Memo: IBRD 0 0 0 0 0 1 3 4 5 3 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 4,680 2,442 2,844 2,609 3,172 3,596 2,951 Public and publicly guaranteed .. .. .. 1,480 1,896 363 1,627 2,000 1,068 1,459 Official creditors .. .. .. 0 0 0 0 0 3 7 Multilateral .. .. .. 0 0 0 0 0 3 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 .. .. .. 1,480 1,896 363 1,627 2,000 1,066 1,452 Bonds .. .. .. 253 70 16 284 489 489 778 Commercial banks .. .. .. 752 1,198 347 949 904 26 326 Other private .. .. .. 475 628 0 393 607 551 348 Private nonguaranteed .. .. .. 3,200 546 2,481 982 1,172 2,527 1,492 Bonds .. .. .. 0 0 358 0 45 350 0 Commercial banks and other .. .. .. 3,200 546 2,123 982 1,127 2,177 1,492 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 .. .. .. -51 -396 -111 1,002 431 437 2,712 Public and publicly guaranteed .. .. .. 1,523 -606 1,642 -30 -397 1,411 30 Official creditors .. .. .. 0 0 37 91 4 4 69 Multilateral .. .. .. 0 0 37 91 4 4 69 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 .. .. .. 1,523 -606 1,604 -121 -401 1,406 -38 Bonds .. .. .. 1,025 -70 1,611 481 733 1,983 635 Commercial banks .. .. .. -26 -358 -107 -529 -904 -26 -326 Other private .. .. .. 525 -178 100 -73 -230 -551 -348 Private nonguaranteed .. .. .. -1,574 210 -1,753 1,032 828 -974 2,682 Bonds .. .. .. 45 373 -358 712 1,205 1,204 4,174 Commercial banks and other .. .. .. -1,619 -163 -1,395 320 -377 -2,177 -1,492 Memo: IBRD 0 0 0 0 0 1 3 4 5 3 IDA 0 0 0 0 0 0 0 0 0 0 478 SOUTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 850 892 814 743 860 859 1,138 Public and publicly guaranteed .. .. .. 669 759 681 546 558 513 606 Official creditors .. .. .. 0 0 0 1 12 3 7 Multilateral .. .. .. 0 0 0 1 12 3 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 .. .. .. 669 759 681 545 546 510 598 Bonds .. .. .. 207 266 266 275 307 372 499 Commercial banks .. .. .. 228 226 159 130 106 18 13 Other private .. .. .. 234 266 255 140 133 120 87 Private nonguaranteed .. .. .. 181 134 133 196 302 347 533 Bonds .. .. .. 25 27 59 27 84 147 338 Commercial banks and other .. .. .. 156 106 74 169 218 200 195 Memo: IBRD 0 0 0 0 0 0 0 0 0 1 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. -901 -1,288 -926 260 -429 -423 1,574 Public and publicly guaranteed .. .. .. 854 -1,364 961 -576 -955 898 -575 Official creditors .. .. .. 0 0 37 90 -8 1 62 Multilateral .. .. .. 0 0 37 90 -8 1 62 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 .. .. .. 854 -1,364 923 -666 -948 897 -637 Bonds .. .. .. 818 -336 1,344 206 426 1,611 137 Commercial banks .. .. .. -254 -584 -266 -659 -1,011 -44 -339 Other private .. .. .. 291 -445 -155 -213 -363 -670 -435 Private nonguaranteed .. .. .. -1,755 76 -1,886 836 526 -1,320 2,149 Bonds .. .. .. 20 346 -417 685 1,121 1,057 3,836 Commercial banks and other .. .. .. -1,775 -270 -1,469 151 -595 -2,377 -1,687 Memo: IBRD 0 0 0 0 0 1 3 4 5 2 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 5,530 3,334 3,658 3,352 4,032 4,455 4,090 Public and publicly guaranteed .. .. .. 2,150 2,654 1,044 2,173 2,558 1,581 2,065 Official creditors .. .. .. 0 0 0 1 12 6 15 Multilateral .. .. .. 0 0 0 1 12 6 15 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 .. .. .. 2,150 2,654 1,044 2,172 2,547 1,575 2,050 Bonds .. .. .. 460 336 283 559 796 861 1,277 Commercial banks .. .. .. 981 1,424 506 1,079 1,011 44 339 Other private .. .. .. 709 895 255 534 740 670 435 Private nonguaranteed .. .. .. 3,381 680 2,614 1,178 1,474 2,874 2,025 Bonds .. .. .. 25 27 417 27 129 497 338 Commercial banks and other .. .. .. 3,356 652 2,197 1,151 1,345 2,377 1,687 Memo: IBRD 0 0 0 0 0 0 0 0 0 1 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 1,750 1,034 673 47 139 159 86 Official creditors .. .. .. 0 124 63 47 139 159 86 Private creditors .. .. .. 1,750 910 610 0 0 0 0 Memorandum items Concessional LDOD .. .. .. 0 0 0 0 0 0 0 Variable rate LDOD .. .. .. 5,659 5,230 6,776 8,338 8,715 9,155 12,027 Public sector LDOD .. .. .. 11,517 10,528 7,733 8,054 7,137 8,623 8,638 Private sector LDOD .. .. .. 2,413 2,781 5,359 7,254 8,558 9,018 11,811 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.8 2.8 17.3 Deutsche mark .. .. .. 2.4 2.8 3.1 2.6 .. .. .. French franc .. .. .. 0.0 0.0 0.0 0.0 .. .. .. Japanese yen .. .. .. 4.7 5.7 8.4 3.8 3.8 3.5 4.1 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 .. .. .. 92.8 91.4 88.1 92.0 91.9 92.4 76.4 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 .. .. .. 0.1 0.2 0.4 1.6 1.4 1.2 2.1 479 SOUTH AFRICA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 60 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 .. .. .. -778 -520 -845 954 -811 991 2,767 Net flows on debt .. .. .. -377 -297 -698 1,186 -767 -518 2,671 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 .. .. .. -163 106 29 -70 -80 77 95 Residual .. .. .. -238 -329 -134 1,283 36 1,432 1 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.3 5.9 6.0 6.1 5.9 6.8 5.3 Maturity (years) .. .. .. 11.9 13.5 10.2 9.2 10.4 9.7 10.0 Grace period (years) .. .. .. 5.3 1.9 4.2 2.4 4.2 7.2 10.0 Grant element (%) .. .. .. 15.1 19.4 19.2 15.6 20.2 16.7 28.4 Official creditors Interest (%) .. .. .. 0.0 5.5 0.0 5.9 3.8 1.7 0.0 Maturity (years) .. .. .. 0.0 14.0 0.0 12.3 16.1 9.8 0.0 Grace period (years) .. .. .. 0.0 3.8 0.0 4.0 4.9 2.9 0.0 Grant element (%) .. .. .. 0.0 24.4 0.0 20.2 37.7 36.3 0.0 Private creditors Interest (%) .. .. .. 6.3 6.0 6.0 6.1 6.0 6.9 5.3 Maturity (years) .. .. .. 11.9 13.4 10.2 9.1 10.1 9.7 10.0 Grace period (years) .. .. .. 5.3 1.4 4.2 2.3 4.2 7.3 10.0 Grant element (%) .. .. .. 15.1 18.0 19.2 15.5 19.2 16.4 28.4 Memorandum items Commitments .. .. .. 4,528 572 1,993 2,223 1,697 2,506 1,414 Official creditors .. .. .. 0 122 0 73 98 34 0 Private creditors .. .. .. 4,528 450 1,993 2,150 1,599 2,472 1,414 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 39 23 10 6 5 2 1 0 0 0 Principal 5,261 3,312 1,684 1,971 2,111 427 768 175 1,101 2,765 Interest 1,045 794 629 524 457 388 367 329 283 202 Official creditors Disbursements 39 23 10 6 5 2 1 0 0 0 Principal 15 19 28 30 32 32 32 30 28 19 Interest 4 4 4 3 3 2 2 1 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 39 23 10 6 5 2 1 0 0 0 Principal 15 19 28 30 32 32 32 30 28 19 Interest 4 4 4 3 3 2 2 1 1 1 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 5,246 3,292 1,656 1,941 2,079 395 736 145 1,073 2,747 Interest 1,042 790 625 521 454 385 365 328 282 202 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 326 161 0 0 0 0 0 0 0 0 Interest 7 2 0 0 0 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4,920 3,132 1,656 1,941 2,079 395 736 145 1,073 2,747 Interest 1,035 788 625 521 454 385 365 328 282 202 480 SRI LANKA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 433 1,841 5,863 8,118 9,048 9,815 9,157 8,555 9,545 10,238 Long-term debt (LDOD) 317 1,230 5,049 7,213 8,259 8,625 8,312 7,889 8,728 9,374 Public and publicly guaranteed 317 1,227 4,947 7,077 8,064 8,413 7,944 7,500 8,400 9,106 Private nonguaranteed 0 3 102 136 196 213 368 389 329 268 Use of IMF credit 79 391 410 433 367 258 161 214 310 393 Short-term debt 38 220 405 471 421 931 685 451 507 471 of which interest arrears on LDOD 0 0 11 109 125 141 112 94 99 0 Official creditors 0 0 0 18 17 18 14 12 10 0 Private creditors 0 0 11 92 108 123 98 82 90 0 Memo: principal arrears on LDOD 0 0 0 179 221 255 216 187 202 0 Official creditors 0 0 0 31 39 41 28 22 23 0 Private creditors 0 0 0 148 182 214 188 165 179 0 Memo: export credits 0 0 566 672 200 245 325 226 223 218 TOTAL DEBT FLOWS Disbursements 75 344 545 814 914 504 735 670 759 977 Long-term debt 66 272 485 814 914 504 735 539 634 894 IMF purchases 10 72 61 0 0 0 0 132 125 83 Principal repayments 56 94 214 349 394 536 541 521 501 418 Long-term debt 29 51 167 283 312 436 455 450 450 387 IMF repurchases 27 43 47 66 82 99 86 71 51 31 Net flows on debt 19 334 331 383 454 463 -24 -66 309 622 of which short-term debt 0 84 0 -82 -66 495 -218 -215 50 63 Interest payments (INT) 12 85 170 182 192 221 249 229 218 186 Long-term debt 12 33 122 155 170 190 214 209 205 175 IMF charges 0 17 21 2 2 2 1 3 5 5 Short-term debt 0 36 27 24 19 29 34 17 7 5 Net transfers on debt 7 248 161 201 262 243 -273 -295 91 436 Total debt service paid (TDS) 68 179 384 531 586 757 789 751 718 604 Long-term debt 41 84 289 439 483 626 669 659 655 562 IMF repurchases and charges 27 59 69 68 84 101 87 75 56 37 Short-term debt (interest only) 0 36 27 24 19 29 34 17 7 5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 51 425 583 1,074 910 356 562 326 449 858 Net flow of long-term debt (ex. IMF) 36 221 318 531 602 68 280 89 184 507 Foreign direct investment (net) 0 43 43 430 193 176 173 172 197 229 Portfolio equity flows 0 0 0 0 0 0 0 -35 -53 -14 Grants (excluding technical coop.) 15 161 221 113 115 112 109 100 121 136 Memo: technical coop. grants 7 57 104 94 81 87 78 77 73 97 official net resource flows 55 296 529 421 486 263 240 298 352 622 private net resource flows -4 129 54 653 424 94 322 29 97 236 NET TRANSFERS 39 377 435 842 648 56 240 14 146 591 Interest on long-term debt 12 33 122 155 170 190 214 209 205 175 Profit remittances on FDI 0 15 25 77 91 111 109 104 98 92 Memo: official net transfers 47 270 452 314 377 142 116 180 230 492 private net transfers -8 107 -16 528 271 -86 124 -166 -85 99 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,259 3,997 7,865 14,931 15,616 15,405 16,032 15,479 16,292 18,045 Exports of goods, serv. & inc. (XGS) .. 1,492 2,786 6,669 6,940 6,780 7,670 7,436 7,330 8,099 Worker remit. & comp. of employees 0 152 401 942 1,023 1,072 1,166 1,185 1,309 1,438 Imports of goods & services (MGS) .. 2,269 3,224 6,974 7,070 7,198 8,554 7,501 7,407 8,050 International reserves (RES) 43 283 447 2,042 1,998 1,654 1,056 1,304 1,652 2,265 Current account balance .. -655 -298 -395 -228 -561 -1,044 -215 -236 -131 4. DEBT INDICATORS EDT / XGS (%) .. 123.4 210.4 121.7 130.4 144.8 119.4 115.1 130.2 126.4 EDT / GNI (%) 19.2 46.1 74.5 54.4 57.9 63.7 57.1 55.3 58.6 56.7 TDS / XGS (%) .. 12.0 13.8 8.0 8.4 11.2 10.3 10.1 9.8 7.5 INT / XGS (%) .. 5.7 6.1 2.7 2.8 3.3 3.2 3.1 3.0 2.3 INT / GNI (%) 0.5 2.1 2.2 1.2 1.2 1.4 1.6 1.5 1.3 1.0 RES / EDT (%) 9.9 15.3 7.6 25.2 22.1 16.8 11.5 15.2 17.3 22.1 RES / MGS (months) .. 1.5 1.7 3.5 3.4 2.8 1.5 2.1 2.7 3.4 Short-term / EDT (%) 8.8 11.9 6.9 5.8 4.7 9.5 7.5 5.3 5.3 4.6 Concessional / EDT (%) 43.2 56.0 71.9 74.5 75.5 74.0 74.2 75.6 76.4 80.4 Multilateral / EDT (%) 6.7 11.7 27.7 35.5 35.7 36.8 37.3 37.9 39.3 41.3 481 SRI LANKA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 317 1,230 5,049 7,213 8,259 8,625 8,312 7,889 8,728 9,374 Public and publicly guaranteed 317 1,227 4,947 7,077 8,064 8,413 7,944 7,500 8,400 9,106 Official creditors 253 1,087 4,349 6,203 6,989 7,418 6,934 6,623 7,502 8,494 Multilateral 29 216 1,623 2,878 3,227 3,614 3,412 3,239 3,754 4,227 Concessional 1 177 1,536 2,845 3,198 3,591 3,396 3,227 3,709 4,147 Bilateral 224 872 2,726 3,325 3,762 3,805 3,522 3,384 3,748 4,266 Concessional 186 854 2,681 3,201 3,634 3,670 3,394 3,240 3,578 4,084 Private creditors 64 140 598 875 1,075 994 1,010 876 898 612 Bonds 12 0 0 50 115 115 65 65 65 65 Commercial banks 3 57 259 419 516 437 371 301 348 316 Other private 48 83 339 405 444 442 574 510 485 231 Private nonguaranteed 0 3 102 136 196 213 368 389 329 268 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 3 102 136 196 213 368 389 329 268 Memo: IBRD 26 31 82 31 26 20 13 8 4 3 IDA 1 98 864 1,514 1,648 1,651 1,610 1,570 1,734 2,051 DISBURSEMENTS 66 272 485 814 914 504 735 539 634 894 Public and publicly guaranteed 66 269 485 749 828 452 565 439 586 894 Official creditors 55 174 396 474 559 349 348 424 475 745 Multilateral 3 32 234 176 231 150 123 128 233 407 Concessional 1 31 233 176 231 150 123 128 196 368 Bilateral 52 141 162 298 328 199 225 296 241 337 Concessional 40 141 162 265 315 179 207 264 213 307 Private creditors 10 96 89 275 270 103 218 15 111 149 Bonds 0 0 0 50 65 0 0 0 0 0 Commercial banks 0 57 59 174 161 31 44 11 89 101 Other private 10 39 30 51 43 73 174 4 22 48 Private nonguaranteed 0 2 0 66 86 52 169 100 48 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 2 0 66 86 52 169 100 48 0 Memo: IBRD 1 0 1 0 0 0 0 0 0 0 IDA 1 20 127 78 96 49 47 39 91 202 PRINCIPAL REPAYMENTS 29 51 167 283 312 436 455 450 450 387 Public and publicly guaranteed 29 51 165 266 287 401 441 372 363 326 Official creditors 15 39 88 166 188 198 216 226 244 259 Multilateral 2 5 21 37 43 42 50 60 67 73 Concessional 0 2 13 31 37 36 45 56 63 71 Bilateral 14 34 68 129 146 156 167 166 177 186 Concessional 6 28 64 124 134 142 150 150 160 173 Private creditors 14 12 76 100 99 203 224 145 119 68 Bonds 3 0 0 0 0 0 50 0 0 0 Commercial banks 1 0 29 78 73 112 96 79 53 26 Other private 10 12 47 23 25 91 79 66 66 41 Private nonguaranteed 0 0 2 17 26 35 14 78 87 60 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 2 17 26 35 14 78 87 60 Memo: IBRD 2 2 7 6 6 6 5 4 4 2 IDA 0 0 3 10 13 15 18 27 32 36 NET FLOWS ON DEBT 36 221 318 531 602 68 280 89 184 507 Public and publicly guaranteed 36 219 320 483 542 51 124 68 223 568 Official creditors 40 135 307 308 371 151 131 198 231 486 Multilateral 2 27 214 140 188 108 73 68 166 335 Concessional 1 30 220 146 194 114 79 72 134 297 Bilateral 38 108 94 169 182 43 58 129 65 151 Concessional 34 113 98 140 181 37 57 115 53 133 Private creditors -3 84 13 174 171 -99 -7 -130 -8 82 Bonds -3 0 0 50 65 0 -50 0 0 0 Commercial banks -1 57 30 96 88 -81 -52 -68 36 75 Other private 1 27 -17 28 18 -18 95 -62 -44 7 Private nonguaranteed 0 2 -2 48 60 17 155 21 -39 -60 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 2 -2 48 60 17 155 21 -39 -60 Memo: IBRD -1 -2 -6 -6 -6 -6 -5 -4 -4 -2 IDA 1 20 124 68 84 34 28 12 59 166 482 SRI LANKA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 12 33 122 155 170 190 214 209 205 175 Public and publicly guaranteed 12 33 120 142 151 165 179 168 162 155 Official creditors 8 25 77 108 108 121 125 118 122 130 Multilateral 3 5 19 28 27 32 32 30 31 33 Concessional 0 2 11 25 25 30 30 29 30 32 Bilateral 6 20 58 80 81 89 93 89 91 96 Concessional 3 19 55 74 73 81 86 81 83 89 Private creditors 4 8 43 34 42 45 54 50 41 25 Bonds 1 0 0 0 4 4 6 3 2 2 Commercial banks 0 0 16 19 25 32 29 21 18 12 Other private 3 8 27 15 13 9 20 25 21 11 Private nonguaranteed 0 0 2 13 20 24 35 41 43 20 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 2 13 20 24 35 41 43 20 Memo: IBRD 3 3 8 3 2 2 1 1 1 0 IDA 0 1 5 11 11 12 12 12 12 13 NET TRANSFERS ON DEBT 24 188 196 375 431 -122 66 -120 -21 332 Public and publicly guaranteed 24 186 200 341 391 -114 -54 -100 61 413 Official creditors 32 110 230 201 262 30 7 79 110 356 Multilateral -1 22 195 112 161 76 41 39 136 302 Concessional 1 28 209 121 169 84 48 44 103 265 Bilateral 32 87 35 89 101 -46 -35 41 -26 55 Concessional 31 94 43 66 107 -44 -29 33 -29 44 Private creditors -7 76 -30 140 129 -144 -61 -180 -49 56 Bonds -4 0 0 50 61 -4 -56 -3 -2 -2 Commercial banks -1 57 14 77 63 -113 -81 -89 18 62 Other private -2 19 -44 13 5 -27 76 -87 -65 -3 Private nonguaranteed 0 2 -4 35 40 -8 120 -20 -82 -81 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 2 -4 35 40 -8 120 -20 -82 -81 Memo: IBRD -3 -5 -13 -9 -8 -8 -7 -5 -5 -2 IDA 1 19 118 57 72 22 16 0 47 153 DEBT SERVICE (LTDS) 41 84 289 439 483 626 669 659 655 562 Public and publicly guaranteed 41 84 285 408 438 567 620 540 525 481 Official creditors 24 64 166 273 297 319 341 345 365 388 Multilateral 4 10 39 64 70 75 82 90 98 106 Concessional 0 3 24 55 62 66 75 84 93 103 Bilateral 19 54 126 209 227 245 259 255 267 283 Concessional 9 47 119 199 207 224 236 231 242 263 Private creditors 18 20 119 135 141 247 279 195 160 93 Bonds 4 0 0 0 4 4 56 3 2 2 Commercial banks 1 0 46 97 99 144 125 101 71 39 Other private 13 19 73 38 38 100 98 91 87 52 Private nonguaranteed 0 0 4 31 45 60 49 119 130 81 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 4 31 45 60 49 119 130 81 Memo: IBRD 4 5 14 9 8 8 7 5 5 2 IDA 0 1 8 22 24 27 30 39 44 49 UNDISBURSED DEBT 215 1,147 2,170 2,696 2,669 2,996 2,496 2,600 3,093 3,047 Official creditors 196 899 2,063 2,476 2,437 2,636 2,275 2,268 2,809 2,808 Private creditors 19 248 107 220 233 359 221 333 284 239 Memorandum items Concessional LDOD 187 1,031 4,217 6,046 6,832 7,261 6,790 6,467 7,288 8,231 Variable rate LDOD 0 85 256 646 882 804 819 796 803 919 Public sector LDOD 311 1,219 4,854 6,982 7,956 8,292 7,836 7,399 8,290 9,101 Private sector LDOD 5 11 194 231 303 333 476 490 438 274 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 6.7 6.8 7.4 Deutsche mark 13.8 11.2 12.0 6.2 5.9 4.7 4.7 .. .. .. French franc 3.6 2.7 3.2 1.7 1.6 1.3 1.0 .. .. .. Japanese yen 6.4 15.0 22.7 25.1 27.1 30.5 29.8 29.1 29.6 30.4 Pound sterling 28.8 2.3 3.2 1.5 1.1 0.8 0.5 0.4 0.3 0.2 Swiss franc 0.3 2.4 0.9 0.4 0.3 0.3 0.2 0.2 0.2 0.0 U.S.dollars 19.7 37.0 36.2 42.5 41.4 36.4 38.9 40.0 39.4 40.2 Multiple currency 14.3 8.5 13.9 18.5 18.8 22.4 21.5 20.3 20.6 18.4 Special drawing rights 0.0 0.0 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 All other currencies 13.2 21.0 7.5 3.7 3.4 3.1 2.9 2.7 2.7 2.8 483 SRI LANKA (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 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 9 0 0 4 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 -181 930 767 -658 -602 990 694 Net flows on debt 19 334 331 383 454 463 -24 -66 309 622 Net change in interest arrears .. .. 4 -7 16 15 -29 -18 5 -99 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 0 0 0 -9 0 0 -4 Cross-currency valuation .. .. 296 -660 327 203 -579 -554 631 834 Residual .. .. 51 103 134 85 -18 35 45 -658 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.0 3.9 1.8 3.6 5.1 3.8 4.3 2.7 1.9 1.9 Maturity (years) 27.1 30.6 34.8 24.6 27.5 27.0 22.5 28.1 28.1 26.9 Grace period (years) 4.9 7.7 9.5 7.4 8.1 6.9 5.3 6.5 7.5 8.0 Grant element (%) 47.9 50.4 69.3 48.2 35.5 46.7 39.9 53.3 60.9 59.8 Official creditors Interest (%) 2.9 1.3 1.4 2.1 4.4 2.9 2.4 2.7 1.9 1.6 Maturity (years) 27.9 40.9 36.4 32.2 37.3 32.7 32.0 29.8 29.0 31.9 Grace period (years) 5.1 9.9 10.1 9.9 9.9 9.2 8.5 7.7 7.8 9.3 Grant element (%) 49.2 75.1 73.4 65.2 47.1 58.3 60.9 56.8 62.1 68.5 Private creditors Interest (%) 5.9 8.7 8.0 6.6 6.4 6.6 6.6 2.8 2.1 2.7 Maturity (years) 7.4 11.9 9.9 9.3 6.6 10.1 10.4 20.3 13.0 9.1 Grace period (years) 1.4 3.8 1.6 2.4 4.4 0.1 1.3 0.7 3.5 3.2 Grant element (%) 12.6 5.8 8.1 13.9 10.9 12.2 13.2 37.0 41.4 29.1 Memorandum items Commitments 81 752 837 776 792 716 448 769 858 792 Official creditors 78 484 784 520 538 536 251 632 808 617 Private creditors 3 268 53 257 254 181 196 137 50 175 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,029 848 534 304 167 91 45 16 6 3 Principal 488 513 518 502 576 489 496 514 518 510 Interest 191 199 200 195 188 177 167 158 147 136 Official creditors Disbursements 916 771 499 294 163 91 45 16 6 3 Principal 321 345 365 381 416 435 451 469 477 487 Interest 154 168 175 175 173 167 159 151 142 133 Bilateral creditors Disbursements 611 545 331 192 94 50 23 5 3 2 Principal 240 255 260 269 277 280 286 288 285 290 Interest 115 124 127 125 120 114 108 101 93 86 Multilateral creditors Disbursements 305 226 169 103 69 41 23 11 3 2 Principal 81 90 104 112 139 155 165 181 192 197 Interest 40 43 48 51 53 53 52 51 49 46 Private creditors Disbursements 114 77 35 10 4 0 0 0 0 0 Principal 168 168 154 121 161 54 46 45 40 23 Interest 37 31 25 19 15 10 8 6 5 4 Commercial banks Disbursements 28 11 5 1 0 0 0 0 0 0 Principal 46 69 67 64 46 12 6 6 5 5 Interest 12 10 8 5 3 2 2 1 1 1 Other private Disbursements 86 66 30 10 4 0 0 0 0 0 Principal 122 99 87 57 114 42 40 39 35 18 Interest 25 21 17 14 12 8 6 5 4 3 484 ST. KITTS AND NEVIS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 45.2 114.1 128.2 138.0 156.6 218.1 263.9 310.3 Long-term debt (LDOD) .. .. 44.2 112.0 124.3 133.7 152.7 214.7 260.8 308.8 Public and publicly guaranteed .. .. 44.2 112.0 124.3 133.7 152.7 214.7 260.8 308.8 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 2.3 2.2 2.1 2.0 1.1 0.0 Short-term debt .. .. 1.0 2.1 1.5 2.0 1.8 1.4 1.9 1.5 of which interest arrears on LDOD .. .. 0.0 0.1 0.3 0.1 0.2 0.4 0.5 0.0 Official creditors .. .. 0.0 0.1 0.3 0.1 0.2 0.4 0.5 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 0.1 0.1 0.1 0.0 0.0 0.0 0.0 Official creditors .. .. 0.0 0.0 0.1 0.1 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 TOTAL DEBT FLOWS Disbursements .. .. 7.3 54.9 23.9 19.4 32.1 71.8 59.7 68.0 Long-term debt .. .. 7.3 54.9 21.7 19.4 32.1 71.8 59.7 68.0 IMF purchases .. .. 0.0 0.0 2.2 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 1.5 4.6 5.8 9.3 12.8 9.5 21.4 23.2 Long-term debt .. .. 1.5 4.6 5.8 9.3 12.8 9.5 20.4 22.0 IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 1.1 1.1 Net flows on debt .. .. 5.8 50.5 17.3 10.8 18.9 61.8 38.8 44.9 of which short-term debt .. .. 0.0 0.2 -0.8 0.6 -0.4 -0.5 0.4 0.0 Interest payments (INT) .. .. 1.5 2.2 4.9 7.8 7.3 11.9 17.9 20.2 Long-term debt .. .. 1.4 2.1 4.8 7.7 7.1 11.8 17.8 20.1 IMF charges .. .. 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.0 Short-term debt .. .. 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 Net transfers on debt .. .. 4.3 48.3 12.5 3.0 11.6 49.9 20.9 24.7 Total debt service paid (TDS) .. .. 3.0 6.8 10.7 17.1 20.1 21.4 39.3 43.4 Long-term debt .. .. 2.9 6.7 10.6 16.9 19.9 21.3 38.2 42.2 IMF repurchases and charges .. .. 0.0 0.0 0.0 0.1 0.1 0.1 1.1 1.2 Short-term debt (interest only) .. .. 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 56.6 69.8 53.2 69.1 117.3 155.9 127.7 98.8 Net flow of long-term debt (ex. IMF) .. .. 5.8 50.3 15.9 10.2 19.3 62.4 39.4 46.0 Foreign direct investment (net) .. .. 48.8 19.7 31.9 57.7 96.2 88.2 80.4 52.7 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 -0.2 5.5 1.2 1.8 5.3 8.0 0.2 Memo: technical coop. grants .. .. 2.2 2.3 1.1 0.8 0.6 1.1 0.6 0.1 official net resource flows .. .. 8.2 32.6 13.8 6.8 4.9 19.3 25.9 4.7 private net resource flows .. .. 48.4 37.1 39.4 62.3 112.4 136.5 101.8 94.1 NET TRANSFERS .. .. 50.1 50.9 27.1 39.2 89.0 120.7 87.3 57.5 Interest on long-term debt .. .. 1.4 2.1 4.8 7.7 7.1 11.8 17.8 20.1 Profit remittances on FDI .. .. 5.0 16.7 21.3 22.2 21.2 23.4 22.7 21.2 Memo: official net transfers .. .. 6.8 30.8 10.7 1.7 0.8 15.1 20.3 -0.5 private net transfers .. .. 43.3 20.2 16.5 37.5 88.1 105.5 66.9 58.0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 154.5 249.7 255.9 276.4 298.7 304.5 308.3 299.3 Exports of goods, serv. & inc. (XGS) .. .. 102.8 143.1 149.8 152.5 155.5 158.7 160.5 124.2 Worker remit. & comp. of employees .. .. 19.0 3.0 4.0 4.0 4.0 4.0 4.0 4.0 Imports of goods & services (MGS) .. .. 140.1 219.9 223.2 255.4 284.3 280.7 300.9 238.1 International reserves (RES) .. .. 16.3 36.1 46.8 49.6 45.2 56.4 65.8 64.8 Current account balance .. .. -47.0 -61.7 -46.3 -82.5 -66.2 -105.9 -124.0 -90.4 4. DEBT INDICATORS EDT / XGS (%) .. .. 44.0 79.7 85.5 90.5 100.7 137.5 164.4 249.9 EDT / GNI (%) .. .. 29.3 45.7 50.1 49.9 52.4 71.6 85.6 103.7 TDS / XGS (%) .. .. 2.9 4.8 7.1 11.2 12.9 13.5 24.5 34.9 INT / XGS (%) .. .. 1.5 1.5 3.2 5.1 4.7 7.5 11.1 16.3 INT / GNI (%) .. .. 1.0 0.9 1.9 2.8 2.5 3.9 5.8 6.7 RES / EDT (%) .. .. 36.0 31.6 36.5 35.9 28.9 25.9 24.9 20.9 RES / MGS (months) .. .. 1.4 2.0 2.5 2.3 1.9 2.4 2.6 3.3 Short-term / EDT (%) .. .. 2.3 1.9 1.2 1.5 1.1 0.6 0.7 0.5 Concessional / EDT (%) .. .. 76.7 73.1 68.5 65.7 59.1 44.9 43.5 37.7 Multilateral / EDT (%) .. .. 44.2 35.2 31.5 35.3 34.3 28.9 31.5 30.1 485 ST. KITTS AND NEVIS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 44.2 112.0 124.3 133.7 152.7 214.7 260.8 308.8 Public and publicly guaranteed .. .. 44.2 112.0 124.3 133.7 152.7 214.7 260.8 308.8 Official creditors .. .. 41.4 90.2 95.1 99.8 102.7 116.3 134.7 141.2 Multilateral .. .. 20.0 40.1 40.4 48.7 53.8 63.1 83.1 93.4 Concessional .. .. 15.1 33.9 33.4 39.7 43.8 49.8 68.5 73.8 Bilateral .. .. 21.5 50.0 54.7 51.1 48.9 53.3 51.6 47.9 Concessional .. .. 19.5 49.5 54.5 50.9 48.7 48.2 46.4 43.3 Private creditors .. .. 2.7 21.8 29.3 33.9 50.0 98.4 126.1 167.5 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46.2 Commercial banks .. .. 0.0 18.0 18.5 23.2 42.8 92.4 121.4 118.0 Other private .. .. 2.7 3.8 10.8 10.7 7.2 5.9 4.7 3.3 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 0.9 0.8 3.6 4.5 6.6 8.7 11.9 IDA .. .. 0.0 1.5 1.5 1.5 1.4 1.4 1.4 1.5 DISBURSEMENTS .. .. 7.3 54.9 21.7 19.4 32.1 71.8 59.7 68.0 Public and publicly guaranteed .. .. 7.3 54.9 21.7 19.4 32.1 71.8 59.7 68.0 Official creditors .. .. 7.3 36.1 11.9 11.7 7.9 19.7 24.6 13.5 Multilateral .. .. 2.4 9.3 5.9 11.3 7.2 12.0 22.1 11.4 Concessional .. .. 2.3 7.4 4.7 8.1 5.5 8.0 19.9 6.4 Bilateral .. .. 4.9 26.8 6.0 0.4 0.7 7.7 2.6 2.1 Concessional .. .. 4.9 26.8 6.0 0.4 0.5 2.9 1.9 2.1 Private creditors .. .. 0.0 18.8 9.8 7.8 24.2 52.1 35.1 54.5 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47.7 Commercial banks .. .. 0.0 18.0 1.5 5.8 24.2 51.9 34.5 6.7 Other private .. .. 0.0 0.8 8.3 1.9 0.0 0.2 0.6 0.2 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 2.8 1.1 2.1 2.2 3.8 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS .. .. 1.5 4.6 5.8 9.3 12.8 9.5 20.4 22.0 Public and publicly guaranteed .. .. 1.5 4.6 5.8 9.3 12.8 9.5 20.4 22.0 Official creditors .. .. 1.1 3.2 3.5 6.1 4.8 5.7 6.7 8.9 Multilateral .. .. 0.7 2.1 2.1 2.3 2.1 2.5 2.0 2.6 Concessional .. .. 0.6 1.5 1.6 1.7 1.6 2.0 1.6 1.7 Bilateral .. .. 0.3 1.1 1.4 3.9 2.7 3.2 4.7 6.3 Concessional .. .. 0.2 0.8 1.2 3.8 2.6 3.2 4.2 5.6 Private creditors .. .. 0.4 1.4 2.3 3.1 8.0 3.7 13.7 13.1 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.4 Commercial banks .. .. 0.0 0.0 0.9 1.2 4.6 2.2 11.8 10.0 Other private .. .. 0.4 1.4 1.4 2.0 3.5 1.5 1.9 1.7 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 0.1 0.1 0.6 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET FLOWS ON DEBT .. .. 5.8 50.3 15.9 10.2 19.3 62.4 39.4 46.0 Public and publicly guaranteed .. .. 5.8 50.3 15.9 10.2 19.3 62.4 39.4 46.0 Official creditors .. .. 6.2 32.9 8.4 5.5 3.1 14.0 18.0 4.6 Multilateral .. .. 1.7 7.2 3.8 9.0 5.1 9.5 20.1 8.8 Concessional .. .. 1.6 5.9 3.1 6.4 3.9 6.0 18.3 4.8 Bilateral .. .. 4.6 25.7 4.6 -3.5 -2.0 4.5 -2.1 -4.2 Concessional .. .. 4.7 26.0 4.8 -3.4 -2.1 -0.3 -2.3 -3.5 Private creditors .. .. -0.4 17.4 7.5 4.6 16.2 48.3 21.4 41.4 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46.2 Commercial banks .. .. 0.0 18.0 0.5 4.7 19.6 49.6 22.7 -3.3 Other private .. .. -0.4 -0.6 6.9 0.0 -3.5 -1.3 -1.3 -1.5 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 -0.1 0.1 2.7 1.0 2.1 2.1 3.2 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 486 ST. KITTS AND NEVIS (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 1.4 2.1 4.8 7.7 7.1 11.8 17.8 20.1 Public and publicly guaranteed .. .. 1.4 2.1 4.8 7.7 7.1 11.8 17.8 20.1 Official creditors .. .. 1.4 1.9 3.2 5.0 4.1 4.2 5.6 5.3 Multilateral .. .. 0.7 1.0 1.3 1.5 2.0 2.4 3.2 2.8 Concessional .. .. 0.5 0.8 1.0 1.2 1.5 1.8 2.4 2.0 Bilateral .. .. 0.7 0.9 1.9 3.5 2.2 1.8 2.4 2.5 Concessional .. .. 0.6 0.8 1.9 3.5 2.1 1.7 2.0 2.2 Private creditors .. .. 0.0 0.3 1.6 2.7 3.0 7.6 12.2 14.9 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 Commercial banks .. .. 0.0 0.0 1.4 1.9 2.3 7.1 11.8 11.7 Other private .. .. 0.0 0.2 0.2 0.7 0.7 0.5 0.4 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 0.1 0.1 0.1 0.3 0.4 0.5 0.6 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NET TRANSFERS ON DEBT .. .. 4.4 48.2 11.1 2.5 12.2 50.6 21.6 25.8 Public and publicly guaranteed .. .. 4.4 48.2 11.1 2.5 12.2 50.6 21.6 25.8 Official creditors .. .. 4.8 31.0 5.2 0.5 -1.0 9.8 12.4 -0.7 Multilateral .. .. 1.0 6.1 2.5 7.5 3.2 7.1 16.9 5.9 Concessional .. .. 1.1 5.2 2.1 5.2 2.4 4.2 15.9 2.8 Bilateral .. .. 3.8 24.8 2.7 -7.0 -4.2 2.7 -4.5 -6.6 Concessional .. .. 4.1 25.2 2.9 -6.9 -4.2 -2.1 -4.3 -5.7 Private creditors .. .. -0.5 17.2 5.9 2.0 13.1 40.7 9.2 26.5 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43.4 Commercial banks .. .. 0.0 18.0 -0.9 2.8 17.3 42.5 10.9 -15.1 Other private .. .. -0.5 -0.8 6.8 -0.8 -4.2 -1.7 -1.7 -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 -0.2 0.0 2.7 0.7 1.7 1.6 2.6 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 DEBT SERVICE (LTDS) .. .. 2.9 6.7 10.6 16.9 19.9 21.3 38.2 42.2 Public and publicly guaranteed .. .. 2.9 6.7 10.6 16.9 19.9 21.3 38.2 42.2 Official creditors .. .. 2.4 5.1 6.7 11.2 8.9 9.9 12.3 14.2 Multilateral .. .. 1.4 3.2 3.4 3.7 4.0 4.9 5.2 5.4 Concessional .. .. 1.2 2.3 2.6 2.9 3.1 3.8 4.0 3.6 Bilateral .. .. 1.0 1.9 3.3 7.4 4.8 5.0 7.1 8.7 Concessional .. .. 0.8 1.6 3.0 7.3 4.8 4.9 6.2 7.8 Private creditors .. .. 0.5 1.6 3.9 5.8 11.0 11.3 25.9 28.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.3 Commercial banks .. .. 0.0 0.0 2.3 3.1 6.9 9.4 23.6 21.7 Other private .. .. 0.5 1.6 1.6 2.7 4.2 2.0 2.3 2.0 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 0.2 0.1 0.2 0.3 0.4 0.6 1.2 IDA .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 UNDISBURSED DEBT .. .. 15.3 47.8 53.3 65.6 64.2 59.6 57.0 42.5 Official creditors .. .. 14.3 47.8 51.3 50.6 56.7 46.4 46.7 39.1 Private creditors .. .. 1.1 0.0 1.9 15.0 7.6 13.2 10.3 3.4 Memorandum items Concessional LDOD .. .. 34.7 83.4 87.9 90.6 92.5 98.0 114.9 117.1 Variable rate LDOD .. .. 0.0 1.6 1.4 4.7 5.6 13.9 24.9 36.8 Public sector LDOD .. .. 40.7 111.5 124.2 133.7 152.7 214.7 260.8 308.8 Private sector LDOD .. .. 3.4 0.5 0.1 0.0 0.0 0.0 0.0 0.0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.4 1.7 2.1 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 0.0 Pound sterling .. .. 16.3 3.6 2.8 2.0 1.5 1.0 0.8 0.8 Swiss franc .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. 37.8 72.5 74.3 75.8 79.5 80.5 82.2 83.8 Multiple currency .. .. 35.6 15.6 12.8 11.1 8.9 5.7 4.4 3.5 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.3 0.2 0.2 0.2 All other currencies .. .. 10.3 8.3 10.1 11.1 9.7 10.3 10.6 9.6 487 ST. KITTS AND NEVIS (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 0.0 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 49.6 14.1 9.8 18.6 61.5 45.8 46.4 Net flows on debt .. .. 5.8 50.5 17.3 10.8 18.9 61.8 38.8 44.9 Net change in interest arrears .. .. -0.1 0.0 0.2 -0.2 0.1 0.1 0.1 -0.5 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 -0.7 0.3 -0.8 -0.8 -0.4 1.7 1.6 Residual .. .. 0.6 -0.2 -3.7 -0.1 0.3 -0.1 5.2 0.4 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 4.0 6.2 5.1 6.8 5.9 6.5 5.4 7.5 Maturity (years) .. .. 31.7 12.0 14.8 15.4 13.0 13.0 12.6 10.9 Grace period (years) .. .. 7.5 6.0 4.0 3.6 2.7 3.2 4.5 4.3 Grant element (%) .. .. 41.5 17.8 27.4 20.7 19.3 16.9 24.7 12.7 Official creditors Interest (%) .. .. 4.5 4.9 4.4 2.8 4.8 4.0 2.3 1.5 Maturity (years) .. .. 38.0 15.0 20.2 21.8 16.5 18.0 17.6 16.8 Grace period (years) .. .. 9.0 3.5 5.7 6.0 4.5 4.1 4.4 4.2 Grant element (%) .. .. 46.1 27.8 38.5 49.8 31.0 36.6 47.0 51.1 Private creditors Interest (%) .. .. 2.0 7.5 6.1 9.6 7.0 7.1 7.6 8.4 Maturity (years) .. .. 5.8 9.1 6.8 10.9 9.7 11.7 9.0 10.0 Grace period (years) .. .. 1.3 8.4 1.4 1.9 1.1 2.9 4.5 4.3 Grant element (%) .. .. 22.5 8.0 10.9 0.6 8.3 12.2 9.0 7.0 Memorandum items Commitments .. .. 5 37 29 35 32 72 65 55 Official creditors .. .. 4 19 17 14 16 14 27 7 Private creditors .. .. 1 19 12 21 17 58 38 48 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 15.9 9.8 6.1 4.3 2.7 1.3 1.1 0.5 0.4 0.3 Principal 24.2 25.8 26.6 28.0 37.7 26.6 23.8 27.8 32.0 32.1 Interest 17.3 16.1 14.8 13.3 11.0 9.5 8.1 6.8 4.4 2.9 Official creditors Disbursements 13.4 8.9 6.1 4.3 2.7 1.3 1.1 0.5 0.4 0.3 Principal 9.8 10.4 11.2 13.3 13.1 13.1 13.3 13.0 12.1 9.6 Interest 4.3 4.2 4.0 3.7 3.3 3.0 2.6 2.2 1.7 1.4 Bilateral creditors Disbursements 1.9 1.0 0.4 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Principal 5.6 5.7 5.8 5.8 4.8 4.8 4.8 4.8 3.8 1.4 Interest 1.9 1.7 1.5 1.3 1.1 0.9 0.7 0.5 0.2 0.1 Multilateral creditors Disbursements 11.4 7.9 5.6 4.0 2.7 1.3 1.1 0.5 0.4 0.3 Principal 4.2 4.7 5.4 7.4 8.3 8.3 8.5 8.3 8.3 8.2 Interest 2.4 2.5 2.5 2.4 2.3 2.1 1.9 1.7 1.5 1.3 Private creditors Disbursements 2.5 0.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 14.4 15.5 15.4 14.7 24.6 13.6 10.6 14.7 19.9 22.5 Interest 13.0 11.9 10.8 9.6 7.6 6.5 5.5 4.7 2.7 1.4 Commercial banks Disbursements 2.4 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 10.1 11.3 11.9 11.9 21.7 10.7 7.7 11.9 17.0 2.0 Interest 9.0 8.2 7.4 6.5 4.8 3.9 3.2 2.5 0.8 0.6 Other private Disbursements 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 4.3 4.1 3.5 2.9 2.9 2.9 2.9 2.9 2.9 20.5 Interest 4.0 3.7 3.4 3.1 2.9 2.6 2.4 2.1 1.9 0.9 488 ST. LUCIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 79.2 152.9 190.1 196.2 235.3 235.7 414.9 368.3 Long-term debt (LDOD) .. .. 72.1 119.9 133.6 140.9 167.6 166.0 210.7 235.0 Public and publicly guaranteed .. .. 72.1 119.9 133.6 140.9 167.6 166.0 210.7 235.0 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 0.0 Short-term debt .. .. 7.0 33.0 56.5 55.3 67.8 69.7 204.2 133.3 of which interest arrears on LDOD .. .. 0.8 0.0 0.0 0.0 0.0 0.0 0.0 1.3 Official creditors .. .. 0.8 0.0 0.0 0.0 0.0 0.0 0.0 1.2 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 Memo: principal arrears on LDOD .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.3 Official creditors .. .. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.3 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements .. .. 8.0 10.4 19.5 20.7 50.9 16.7 50.1 33.1 Long-term debt .. .. 8.0 10.4 19.5 20.7 50.9 16.7 50.1 33.1 IMF purchases .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 3.2 6.9 8.2 10.3 20.9 13.9 9.4 15.6 Long-term debt .. .. 3.2 6.9 8.2 10.3 20.9 13.9 9.4 15.6 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 16.3 34.8 9.2 42.5 4.7 175.2 -54.8 of which short-term debt .. .. 2.2 12.8 23.5 -1.2 12.5 2.0 134.5 -72.2 Interest payments (INT) .. .. 3.1 6.6 8.1 8.9 10.3 11.5 16.7 17.0 Long-term debt .. .. 2.8 5.2 5.8 6.4 7.5 9.0 8.7 12.0 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 1.4 2.4 2.5 2.8 2.5 8.0 5.0 Net transfers on debt .. .. 3.8 9.7 26.7 0.3 32.2 -6.7 158.4 -71.7 Total debt service paid (TDS) .. .. 6.3 13.5 16.3 19.2 31.2 25.4 26.2 32.6 Long-term debt .. .. 6.0 12.1 14.0 16.7 28.4 22.8 18.2 27.6 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 1.4 2.4 2.5 2.8 2.5 8.0 5.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 52.9 56.3 109.0 113.7 95.2 43.2 87.5 61.0 Net flow of long-term debt (ex. IMF) .. .. 4.8 3.5 11.3 10.4 30.0 2.8 40.7 17.4 Foreign direct investment (net) .. .. 44.8 47.8 83.4 82.8 54.9 22.4 31.4 32.0 Portfolio equity flows .. .. 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grants (excluding technical coop.) .. .. 3.1 5.0 14.3 20.6 10.3 18.0 15.4 11.6 Memo: technical coop. grants .. .. 3.5 4.4 4.5 3.5 4.4 3.4 4.5 3.4 official net resource flows .. .. 8.7 8.5 18.5 16.1 15.4 13.4 26.1 20.1 private net resource flows .. .. 44.2 47.8 90.4 97.6 79.8 29.8 61.4 41.0 NET TRANSFERS .. .. 23.6 24.7 71.3 80.3 56.3 6.5 51.0 18.1 Interest on long-term debt .. .. 2.8 5.2 5.8 6.4 7.5 9.0 8.7 12.0 Profit remittances on FDI .. .. 26.5 26.4 31.9 27.1 31.4 27.8 27.7 31.0 Memo: official net transfers .. .. 6.1 3.3 12.8 10.8 10.2 9.3 21.9 15.6 private net transfers .. .. 17.5 21.4 58.5 69.5 46.1 -2.9 29.1 2.5 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 369.2 542.1 596.7 630.6 640.1 611.4 633.0 643.8 Exports of goods, serv. & inc. (XGS) .. .. 301.2 362.0 393.3 369.6 388.1 340.4 330.7 372.9 Worker remit. & comp. of employees .. .. 16.0 2.0 3.0 3.0 3.0 4.0 4.0 4.0 Imports of goods & services (MGS) .. .. 352.1 453.3 472.9 488.8 484.4 429.5 447.6 506.2 International reserves (RES) .. .. 44.6 61.0 70.6 74.5 78.8 88.9 93.9 106.9 Current account balance .. .. -57.0 -78.3 -60.2 -96.8 -78.8 -75.0 -103.9 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 26.3 42.3 48.3 53.1 60.6 69.3 125.5 98.8 EDT / GNI (%) .. .. 21.4 28.2 31.9 31.1 36.8 38.6 65.5 57.2 TDS / XGS (%) .. .. 2.1 3.7 4.2 5.2 8.0 7.4 7.9 8.7 INT / XGS (%) .. .. 1.0 1.8 2.1 2.4 2.7 3.4 5.1 4.5 INT / GNI (%) .. .. 0.9 1.2 1.4 1.4 1.6 1.9 2.6 2.6 RES / EDT (%) .. .. 56.3 39.9 37.1 38.0 33.5 37.7 22.6 29.0 RES / MGS (months) .. .. 1.5 1.6 1.8 1.8 2.0 2.5 2.5 2.5 Short-term / EDT (%) .. .. 8.9 21.6 29.7 28.2 28.8 29.6 49.2 36.2 Concessional / EDT (%) .. .. 41.6 54.9 45.2 40.6 32.9 30.7 20.6 25.4 Multilateral / EDT (%) .. .. 53.3 56.2 48.9 47.1 42.3 40.3 26.1 33.3 489 ST. LUCIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 72.1 119.9 133.6 140.9 167.6 166.0 210.7 235.0 Public and publicly guaranteed .. .. 72.1 119.9 133.6 140.9 167.6 166.0 210.7 235.0 Official creditors .. .. 69.5 119.9 126.5 119.0 120.7 111.8 126.5 141.8 Multilateral .. .. 42.2 86.0 93.0 92.4 99.5 95.0 108.1 122.5 Concessional .. .. 32.5 61.6 62.0 59.3 58.9 58.0 68.8 75.8 Bilateral .. .. 27.3 33.9 33.6 26.6 21.3 16.7 18.4 19.3 Concessional .. .. 0.4 22.3 23.8 20.4 18.5 14.3 16.5 17.8 Private creditors .. .. 2.6 0.0 7.1 21.9 46.8 54.2 84.2 93.2 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 2.6 0.0 7.1 21.9 46.8 54.2 84.2 93.2 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 3.7 5.4 6.2 6.0 5.2 5.9 10.1 IDA .. 0.0 0.0 9.7 11.4 11.6 11.6 11.8 20.1 23.2 DISBURSEMENTS .. .. 8.0 10.4 19.5 20.7 50.9 16.7 50.1 33.1 Public and publicly guaranteed .. .. 8.0 10.4 19.5 20.7 50.9 16.7 50.1 33.1 Official creditors .. .. 8.0 10.4 12.5 5.8 16.8 3.2 20.1 18.1 Multilateral .. .. 6.9 7.0 11.1 5.8 15.7 3.2 17.2 16.9 Concessional .. .. 4.3 5.2 2.9 1.2 3.7 2.8 12.8 6.5 Bilateral .. .. 1.1 3.3 1.4 0.0 1.1 0.0 2.9 1.2 Concessional .. .. 0.2 3.3 1.4 0.0 1.1 0.0 2.9 1.2 Private creditors .. .. 0.0 0.0 7.1 14.9 34.1 13.4 30.0 15.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. 0.0 0.0 7.1 14.9 34.1 13.4 30.0 15.0 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 0.4 1.5 0.8 0.9 0.3 1.0 5.1 IDA .. 0.0 0.0 2.0 1.2 0.5 0.7 0.8 7.3 1.3 PRINCIPAL REPAYMENTS .. .. 3.2 6.9 8.2 10.3 20.9 13.9 9.4 15.6 Public and publicly guaranteed .. .. 3.2 6.9 8.2 10.3 20.9 13.9 9.4 15.6 Official creditors .. .. 2.4 6.9 8.2 10.2 11.7 7.9 9.4 9.6 Multilateral .. .. 2.4 4.9 5.4 5.7 6.6 6.8 6.4 7.2 Concessional .. .. 2.0 2.8 3.2 3.2 3.1 3.4 3.8 3.6 Bilateral .. .. 0.0 2.0 2.8 4.6 5.1 1.1 3.0 2.4 Concessional .. .. 0.0 0.1 0.9 1.3 2.0 0.8 2.2 1.8 Private creditors .. .. 0.8 0.0 0.0 0.1 9.2 6.0 0.0 6.0 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 0.1 9.2 6.0 0.0 6.0 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 0.5 0.7 0.7 1.5 IDA .. 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 NET FLOWS ON DEBT .. .. 4.8 3.5 11.3 10.4 30.0 2.8 40.7 17.4 Public and publicly guaranteed .. .. 4.8 3.5 11.3 10.4 30.0 2.8 40.7 17.4 Official creditors .. .. 5.6 3.5 4.3 -4.4 5.1 -4.7 10.7 8.5 Multilateral .. .. 4.5 2.2 5.7 0.1 9.0 -3.6 10.8 9.6 Concessional .. .. 2.2 2.4 -0.3 -2.0 0.7 -0.6 9.1 3.0 Bilateral .. .. 1.1 1.3 -1.4 -4.6 -4.0 -1.1 -0.1 -1.2 Concessional .. .. 0.2 3.3 0.5 -1.3 -0.9 -0.8 0.7 -0.6 Private creditors .. .. -0.8 0.0 7.0 14.8 24.9 7.4 30.0 9.0 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. -0.8 0.0 7.0 14.8 24.9 7.4 30.0 9.0 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 1.3 0.6 0.4 -0.4 0.3 3.6 IDA .. 0.0 0.0 2.0 1.2 0.5 0.6 0.6 7.1 1.2 490 ST. LUCIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 2.8 5.2 5.8 6.4 7.5 9.0 8.7 12.0 Public and publicly guaranteed .. .. 2.8 5.2 5.8 6.4 7.5 9.0 8.7 12.0 Official creditors .. .. 2.6 5.2 5.8 5.3 5.2 4.1 4.2 4.5 Multilateral .. .. 1.8 3.7 3.9 3.6 4.0 3.8 3.5 3.7 Concessional .. .. 1.3 1.9 2.0 1.4 1.7 1.5 1.6 1.7 Bilateral .. .. 0.8 1.5 1.8 1.7 1.2 0.3 0.7 0.8 Concessional .. .. 0.0 0.9 0.9 1.0 0.9 0.3 0.7 0.8 Private creditors .. .. 0.2 0.0 0.0 1.1 2.3 4.9 4.6 7.5 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 1.1 2.3 4.9 4.6 7.5 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 0.3 0.3 0.3 0.3 0.3 0.3 0.4 IDA .. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 NET TRANSFERS ON DEBT .. .. 2.0 -1.7 5.5 4.0 22.5 -6.2 31.9 5.5 Public and publicly guaranteed .. .. 2.0 -1.7 5.5 4.0 22.5 -6.2 31.9 5.5 Official creditors .. .. 3.0 -1.7 -1.5 -9.7 -0.1 -8.7 6.6 4.0 Multilateral .. .. 2.7 -1.5 1.8 -3.5 5.0 -7.4 7.3 6.0 Concessional .. .. 1.0 0.5 -2.3 -3.4 -1.0 -2.1 7.4 1.3 Bilateral .. .. 0.3 -0.2 -3.2 -6.3 -5.1 -1.4 -0.7 -1.9 Concessional .. .. 0.2 2.4 -0.4 -2.3 -1.8 -1.1 0.0 -1.4 Private creditors .. .. -1.0 0.0 7.0 13.8 22.6 2.5 25.4 1.5 Bonds .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Commercial banks .. .. -1.0 0.0 7.0 13.8 22.6 2.5 25.4 1.5 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 -0.1 1.1 0.3 0.0 -0.7 0.0 3.2 IDA .. 0.0 0.0 1.9 1.2 0.4 0.5 0.6 7.1 1.0 DEBT SERVICE (LTDS) .. .. 6.0 12.1 14.0 16.7 28.4 22.8 18.2 27.6 Public and publicly guaranteed .. .. 6.0 12.1 14.0 16.7 28.4 22.8 18.2 27.6 Official creditors .. .. 5.0 12.1 13.9 15.5 16.9 12.0 13.5 14.0 Multilateral .. .. 4.2 8.6 9.3 9.3 10.7 10.6 9.9 10.9 Concessional .. .. 3.3 4.7 5.2 4.6 4.8 4.8 5.4 5.3 Bilateral .. .. 0.8 3.5 4.6 6.3 6.2 1.4 3.7 3.1 Concessional .. .. 0.0 0.9 1.7 2.3 2.9 1.1 2.9 2.6 Private creditors .. .. 1.0 0.0 0.0 1.1 11.5 10.9 4.6 13.5 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 1.1 11.5 10.9 4.6 13.5 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 0.5 0.4 0.6 0.9 1.0 1.0 1.9 IDA .. 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.2 0.3 UNDISBURSED DEBT .. .. 53.5 60.8 55.4 61.8 65.5 74.7 110.8 94.1 Official creditors .. .. 53.5 46.7 45.0 42.2 56.5 74.7 95.8 94.1 Private creditors .. .. 0.0 14.1 10.4 19.6 9.0 0.0 15.0 0.0 Memorandum items Concessional LDOD .. .. 32.9 84.0 85.9 79.7 77.4 72.3 85.3 93.6 Variable rate LDOD .. .. 0.0 5.1 7.5 11.4 11.6 17.0 22.8 26.6 Public sector LDOD .. .. 72.1 119.9 133.6 140.9 167.6 166.0 210.7 235.0 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 .. .. .. .. .. .. .. 4.6 5.2 5.2 Deutsche mark .. .. 6.0 1.6 1.3 0.9 0.6 .. .. .. French franc .. .. 0.3 13.2 12.0 8.9 6.2 .. .. .. Japanese yen .. .. 4.0 1.2 1.0 0.7 0.3 0.0 0.0 0.0 Pound sterling .. .. 40.3 10.2 7.7 4.8 1.9 1.7 1.0 0.7 Swiss franc .. .. 1.1 0.3 0.2 0.1 0.0 0.0 0.0 0.0 U.S.dollars .. .. 32.8 62.4 61.9 58.4 50.3 53.1 58.7 62.4 Multiple currency .. .. 0.0 5.1 5.8 6.0 5.0 5.0 4.8 4.5 Special drawing rights .. .. 0.8 1.7 1.9 2.2 1.8 1.7 1.5 1.4 All other currencies .. .. 14.8 4.2 8.3 18.0 33.9 34.1 28.8 25.8 491 ST. LUCIA (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 0.0 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 11.4 37.1 6.1 39.2 0.4 179.2 -46.6 Net flows on debt .. .. 7.0 16.3 34.8 9.2 42.5 4.7 175.2 -54.8 Net change in interest arrears .. .. 0.8 0.0 0.0 0.0 0.0 0.0 0.0 1.3 Interest capitalized .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Debt forgiveness or reduction .. .. -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Cross-currency valuation .. .. 5.8 -4.7 1.8 -3.1 -3.2 -1.8 3.7 5.5 Residual .. .. 0.3 -0.3 0.5 0.0 -0.1 -2.5 0.3 1.4 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 4.3 6.1 4.2 2.7 7.3 5.5 5.2 3.2 Maturity (years) .. .. 24.1 12.9 22.1 6.6 18.0 18.4 15.9 18.7 Grace period (years) .. .. 8.2 8.0 7.8 4.1 9.3 5.2 4.4 6.5 Grant element (%) .. .. 42.8 23.5 43.7 18.4 17.9 29.0 30.1 45.3 Official creditors Interest (%) .. .. 4.3 3.3 3.1 0.6 6.0 3.9 2.4 3.2 Maturity (years) .. .. 24.1 15.7 26.1 24.9 22.7 23.5 21.6 18.7 Grace period (years) .. .. 8.2 3.6 7.6 6.9 5.5 6.4 6.1 6.5 Grant element (%) .. .. 42.8 38.5 53.3 66.4 26.7 43.9 52.1 45.3 Private creditors Interest (%) .. .. 0.0 8.0 7.5 3.0 8.7 8.5 7.7 0.0 Maturity (years) .. .. 0.0 11.0 8.9 4.4 13.2 9.2 10.8 0.0 Grace period (years) .. .. 0.0 11.0 8.3 3.7 13.2 2.8 3.0 0.0 Grant element (%) .. .. 0.0 13.0 12.3 12.4 9.1 2.1 9.8 0.0 Memorandum items Commitments .. .. 35 24 14 27 65 38 86 16 Official creditors .. .. 35 10 11 3 33 24 41 16 Private creditors .. .. 0 14 3 24 33 13 45 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 26.6 18.7 11.9 9.3 5.5 3.6 2.3 1.7 0.8 0.6 Principal 11.4 15.1 19.4 21.4 38.9 21.4 20.0 18.2 16.2 12.5 Interest 12.8 12.6 12.0 11.2 10.1 7.9 6.9 6.0 5.2 4.5 Official creditors Disbursements 26.6 18.7 11.9 9.3 5.5 3.6 2.3 1.7 0.8 0.6 Principal 11.1 11.2 14.3 15.2 15.6 15.2 13.8 12.0 10.0 9.4 Interest 5.2 5.1 4.8 4.4 4.0 3.5 3.0 2.6 2.2 2.0 Bilateral creditors Disbursements 2.5 1.8 1.3 1.0 0.6 0.3 0.2 0.2 0.0 0.0 Principal 2.5 2.5 3.7 3.4 3.4 2.8 2.3 1.4 0.6 0.6 Interest 1.0 0.9 0.8 0.7 0.6 0.4 0.3 0.3 0.2 0.2 Multilateral creditors Disbursements 24.1 16.8 10.6 8.4 4.9 3.3 2.2 1.5 0.8 0.6 Principal 8.6 8.7 10.6 11.9 12.2 12.4 11.6 10.6 9.4 8.9 Interest 4.2 4.1 3.9 3.7 3.4 3.0 2.7 2.3 2.0 1.8 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.4 3.9 5.2 6.2 23.3 6.2 6.2 6.2 6.2 3.0 Interest 7.7 7.6 7.2 6.8 6.2 4.4 3.9 3.5 3.0 2.5 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.4 3.9 5.2 6.2 23.3 6.2 6.2 6.2 6.2 3.0 Interest 7.7 7.6 7.2 6.8 6.2 4.4 3.9 3.5 3.0 2.5 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 0.0 492 ST. VINCENT AND THE GRENADINES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1.5 10.6 61.0 118.4 136.5 194.4 195.6 194.6 206.4 229.5 Long-term debt (LDOD) 1.5 10.3 58.9 92.8 108.1 162.6 164.3 163.3 174.1 196.0 Public and publicly guaranteed 1.5 10.3 58.9 92.8 108.1 162.6 164.3 163.3 174.1 196.0 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 25.6 28.4 31.9 31.4 31.3 32.4 33.5 of which interest arrears on LDOD 0.0 0.0 0.1 0.2 0.0 0.1 0.4 1.3 2.4 3.5 Official creditors 0.0 0.0 0.1 0.1 0.0 0.1 0.4 0.3 0.3 0.6 Private creditors 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.9 2.0 2.9 Memo: principal arrears on LDOD 0.0 0.0 0.1 0.1 0.2 0.3 0.9 0.1 0.6 2.3 Official creditors 0.0 0.0 0.1 0.1 0.2 0.3 0.9 0.1 0.6 1.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.3 TOTAL DEBT FLOWS Disbursements 0.4 3.5 7.2 9.8 20.8 64.2 8.5 7.8 18.4 26.5 Long-term debt 0.4 3.0 7.2 9.8 20.8 64.2 8.5 7.8 18.4 26.5 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 6.9 6.8 6.2 6.2 6.7 7.6 8.6 Long-term debt 0.0 0.1 2.4 6.9 6.8 6.2 6.2 6.7 7.6 8.6 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 -0.7 17.0 61.5 1.5 0.2 10.8 17.9 of which short-term debt 0.0 0.0 0.4 -3.6 3.0 3.4 -0.8 -0.9 0.0 0.0 Interest payments (INT) 0.1 0.3 1.9 4.8 5.0 8.4 7.0 7.2 5.6 5.8 Long-term debt 0.1 0.3 1.7 3.2 3.4 6.6 5.2 5.4 4.4 4.6 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 1.6 1.6 1.8 1.9 1.8 1.2 1.2 Net transfers on debt 0.3 3.1 3.3 -5.5 11.9 53.1 -5.5 -7.0 5.2 12.1 Total debt service paid (TDS) 0.1 0.4 4.3 11.8 11.9 14.5 13.3 13.9 13.2 14.4 Long-term debt 0.1 0.4 4.1 10.1 10.3 12.7 11.4 12.1 12.0 13.2 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 1.6 1.6 1.8 1.9 1.8 1.2 1.2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 0.4 8.9 15.9 99.7 114.5 127.5 35.0 26.9 47.8 59.5 Net flow of long-term debt (ex. IMF) 0.4 2.9 4.8 2.9 14.0 58.1 2.3 1.1 10.8 17.9 Foreign direct investment (net) 0.0 1.1 7.7 92.5 89.0 56.1 29.1 21.1 32.5 37.7 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 4.4 11.6 13.4 3.6 4.7 4.4 3.9 Memo: technical coop. grants 0.0 1.0 2.4 2.5 2.0 2.0 1.2 1.3 0.9 1.5 official net resource flows 0.0 7.7 8.2 8.8 25.9 14.0 6.3 6.2 7.8 1.1 private net resource flows 0.4 1.2 7.7 90.9 88.6 113.6 28.7 20.7 40.0 58.4 NET TRANSFERS 0.3 8.6 0.9 86.2 100.3 106.2 17.2 10.3 31.9 44.2 Interest on long-term debt 0.1 0.3 1.7 3.2 3.4 6.6 5.2 5.4 4.4 4.6 Profit remittances on FDI 0.0 0.0 13.3 10.3 10.8 14.8 12.7 11.2 11.4 10.7 Memo: official net transfers 0.0 7.5 6.5 6.1 22.7 10.6 3.0 2.4 4.1 -2.5 private net transfers 0.3 1.2 -5.6 80.1 77.6 95.6 14.2 8.0 27.9 46.6 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 18.5 59.4 187.3 283.0 304.5 311.0 316.3 327.6 343.2 355.8 Exports of goods, serv. & inc. (XGS) .. 39.6 148.7 149.4 160.5 178.7 181.1 176.5 180.3 .. Worker remit. & comp. of employees 0.0 0.0 16.0 2.0 3.0 3.0 3.0 3.0 3.0 3.0 Imports of goods & services (MGS) .. 65.0 167.9 244.3 265.8 265.6 226.8 230.4 234.8 .. International reserves (RES) .. 7.3 26.5 31.2 38.8 42.6 55.2 61.4 53.2 51.2 Current account balance .. -9.3 -23.6 -84.2 -92.3 -72.5 -29.4 -41.3 -42.3 .. 4. DEBT INDICATORS EDT / XGS (%) .. 26.8 41.0 79.2 85.1 108.8 108.0 110.3 114.5 .. EDT / GNI (%) 7.9 17.9 32.6 41.8 44.8 62.5 61.9 59.4 60.1 64.5 TDS / XGS (%) .. 1.1 2.9 7.9 7.4 8.1 7.3 7.9 7.3 .. INT / XGS (%) .. 0.7 1.3 3.2 3.1 4.7 3.9 4.1 3.1 .. INT / GNI (%) 0.4 0.5 1.0 1.7 1.7 2.7 2.2 2.2 1.6 1.6 RES / EDT (%) .. 68.4 43.5 26.3 28.4 21.9 28.2 31.6 25.8 22.3 RES / MGS (months) .. 1.3 1.9 1.5 1.8 1.9 2.9 3.2 2.7 .. Short-term / EDT (%) .. 0.0 3.5 21.6 20.8 16.4 16.0 16.1 15.7 14.6 Concessional / EDT (%) .. 56.9 82.5 68.9 67.6 47.1 47.3 47.5 46.1 42.0 Multilateral / EDT (%) .. 58.4 81.0 51.1 50.9 34.1 34.8 36.0 37.6 34.0 493 ST. VINCENT AND THE GRENADINES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1.5 10.3 58.9 92.8 108.1 162.6 164.3 163.3 174.1 196.0 Public and publicly guaranteed 1.5 10.3 58.9 92.8 108.1 162.6 164.3 163.3 174.1 196.0 Official creditors 0.0 9.4 58.8 91.0 106.7 103.7 105.8 105.2 108.5 109.6 Multilateral 0.0 6.2 49.4 60.5 69.5 66.3 68.1 70.1 77.6 78.1 Concessional 0.0 5.1 41.9 51.4 55.1 54.2 54.9 57.3 64.3 64.8 Bilateral 0.0 3.2 9.5 30.5 37.2 37.4 37.7 35.2 30.8 31.5 Concessional 0.0 1.0 8.5 30.2 37.2 37.4 37.7 35.2 30.8 31.5 Private creditors 1.5 0.9 0.0 1.8 1.4 58.9 58.5 58.1 65.6 86.4 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 1.8 1.4 1.0 0.6 0.2 0.8 0.6 Other private 0.0 0.1 0.0 0.0 0.0 57.9 57.9 57.9 64.8 85.8 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 0.3 0.2 0.2 0.1 0.1 0.5 0.6 IDA 0.0 0.0 6.2 7.3 7.6 7.4 7.0 7.7 10.1 11.5 DISBURSEMENTS 0.4 3.0 7.2 9.8 20.8 64.2 8.5 7.8 18.4 26.5 Public and publicly guaranteed 0.4 3.0 7.2 9.8 20.8 64.2 8.5 7.8 18.4 26.5 Official creditors 0.0 2.9 7.2 9.8 20.8 6.4 8.5 7.8 9.9 4.3 Multilateral 0.0 2.8 6.6 8.6 12.4 3.6 5.7 6.5 9.2 2.6 Concessional 0.0 1.9 5.3 8.0 6.5 3.2 2.6 5.6 8.5 2.4 Bilateral 0.0 0.1 0.6 1.2 8.4 2.8 2.8 1.3 0.7 1.7 Concessional 0.0 0.0 0.6 1.2 8.4 2.8 2.8 1.3 0.7 1.7 Private creditors 0.4 0.1 0.0 0.0 0.0 57.9 0.0 0.0 8.6 22.2 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 0.0 0.0 1.1 0.0 Other private 0.0 0.1 0.0 0.0 0.0 57.9 0.0 0.0 7.5 22.2 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 0.1 0.0 0.0 0.0 0.0 0.5 0.1 IDA 0.0 0.0 0.9 0.0 0.1 0.1 0.0 1.1 1.8 0.5 PRINCIPAL REPAYMENTS 0.0 0.1 2.4 6.9 6.8 6.2 6.2 6.7 7.6 8.6 Public and publicly guaranteed 0.0 0.1 2.4 6.9 6.8 6.2 6.2 6.7 7.6 8.6 Official creditors 0.0 0.1 2.4 5.4 6.4 5.8 5.8 6.3 6.5 7.1 Multilateral 0.0 0.1 2.2 3.7 4.5 3.9 3.9 3.7 4.0 4.9 Concessional 0.0 0.1 1.7 2.6 3.2 2.6 2.6 2.7 2.6 3.4 Bilateral 0.0 0.0 0.2 1.6 2.0 1.9 1.9 2.7 2.6 2.2 Concessional 0.0 0.0 0.1 1.4 1.7 1.9 1.9 2.7 2.6 2.2 Private creditors 0.0 0.0 0.0 1.6 0.4 0.4 0.4 0.4 1.1 1.5 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 1.6 0.4 0.4 0.4 0.4 0.4 0.4 Other private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 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 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.2 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 0.4 2.9 4.8 2.9 14.0 58.1 2.3 1.1 10.8 17.9 Public and publicly guaranteed 0.4 2.9 4.8 2.9 14.0 58.1 2.3 1.1 10.8 17.9 Official creditors 0.0 2.8 4.8 4.4 14.4 0.6 2.7 1.5 3.3 -2.8 Multilateral 0.0 2.7 4.4 4.9 7.9 -0.3 1.8 2.9 5.2 -2.3 Concessional 0.0 1.7 3.6 5.4 3.3 0.6 0.0 2.9 5.9 -1.0 Bilateral 0.0 0.1 0.4 -0.5 6.4 0.8 0.9 -1.3 -1.9 -0.5 Concessional 0.0 0.0 0.6 -0.2 6.7 0.8 0.9 -1.3 -1.9 -0.5 Private creditors 0.4 0.1 0.0 -1.6 -0.4 57.5 -0.4 -0.4 7.5 20.7 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 -1.6 -0.4 -0.4 -0.4 -0.4 0.6 -0.4 Other private 0.0 0.1 0.0 0.0 0.0 57.9 0.0 0.0 6.9 21.0 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 -0.1 0.0 0.0 0.0 0.3 0.1 IDA 0.0 0.0 0.9 -0.1 0.1 0.0 -0.1 1.0 1.7 0.4 494 ST. VINCENT AND THE GRENADINES (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 0.1 0.3 1.7 3.2 3.4 6.6 5.2 5.4 4.4 4.6 Public and publicly guaranteed 0.1 0.3 1.7 3.2 3.4 6.6 5.2 5.4 4.4 4.6 Official creditors 0.0 0.2 1.7 2.7 3.2 3.3 3.3 3.9 3.7 3.5 Multilateral 0.0 0.2 1.5 1.9 2.2 2.2 2.2 2.6 2.5 2.5 Concessional 0.0 0.1 1.1 1.3 1.8 1.7 1.7 2.0 2.0 2.0 Bilateral 0.0 0.0 0.3 0.8 1.0 1.1 1.2 1.3 1.2 1.0 Concessional 0.0 0.0 0.2 0.8 1.0 1.1 1.2 1.3 1.2 1.0 Private creditors 0.1 0.1 0.0 0.5 0.2 3.2 1.8 1.5 0.7 1.0 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 0.5 0.2 0.1 0.1 0.1 0.1 0.0 Other private 0.0 0.0 0.0 0.0 0.0 3.1 1.7 1.5 0.7 1.0 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 0.1 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 -0.3 10.5 51.5 -2.8 -4.3 6.4 13.3 Public and publicly guaranteed 0.3 2.6 3.1 -0.3 10.5 51.5 -2.8 -4.3 6.4 13.3 Official creditors 0.0 2.5 3.1 1.8 11.1 -2.8 -0.6 -2.3 -0.4 -6.3 Multilateral 0.0 2.5 3.0 3.0 5.7 -2.5 -0.4 0.3 2.7 -4.8 Concessional 0.0 1.6 2.4 4.1 1.5 -1.1 -1.7 0.8 4.0 -3.0 Bilateral 0.0 0.1 0.1 -1.3 5.4 -0.3 -0.3 -2.6 -3.1 -1.5 Concessional 0.0 0.0 0.4 -1.0 5.7 -0.3 -0.3 -2.6 -3.1 -1.5 Private creditors 0.3 0.1 0.0 -2.1 -0.6 54.3 -2.2 -1.9 6.8 19.6 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 -2.1 -0.6 -0.5 -0.5 -0.5 0.6 -0.4 Other private 0.0 0.1 0.0 0.0 0.0 54.8 -1.7 -1.5 6.2 20.0 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 0.3 0.1 IDA 0.0 0.0 0.8 -0.1 0.0 -0.1 -0.1 1.0 1.7 0.3 DEBT SERVICE (LTDS) 0.1 0.4 4.1 10.1 10.3 12.7 11.4 12.1 12.0 13.2 Public and publicly guaranteed 0.1 0.4 4.1 10.1 10.3 12.7 11.4 12.1 12.0 13.2 Official creditors 0.0 0.4 4.1 8.1 9.7 9.1 9.1 10.2 10.2 10.6 Multilateral 0.0 0.4 3.6 5.6 6.7 6.1 6.1 6.3 6.5 7.4 Concessional 0.0 0.3 2.9 3.9 5.0 4.4 4.3 4.8 4.6 5.3 Bilateral 0.0 0.0 0.5 2.5 3.0 3.1 3.1 3.9 3.7 3.2 Concessional 0.0 0.0 0.2 2.1 2.7 3.1 3.1 3.9 3.7 3.2 Private creditors 0.1 0.1 0.0 2.1 0.6 3.6 2.2 1.9 1.8 2.6 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 2.1 0.6 0.5 0.5 0.5 0.5 0.4 Other private 0.0 0.0 0.0 0.0 0.0 3.1 1.7 1.5 1.3 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 0.1 0.1 0.1 0.0 0.0 0.2 0.1 IDA 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.1 0.1 0.2 UNDISBURSED DEBT 0.0 13.4 29.6 44.7 34.1 26.6 19.0 25.0 34.7 48.5 Official creditors 0.0 12.2 29.6 44.7 34.1 26.6 19.0 16.3 34.6 48.5 Private creditors 0.0 1.2 0.0 0.0 0.0 0.0 0.0 8.7 0.1 0.0 Memorandum items Concessional LDOD 0.0 6.1 50.3 81.6 92.3 91.6 92.6 92.4 95.2 96.3 Variable rate LDOD 0.0 0.0 0.0 7.3 10.3 50.4 51.2 52.4 63.7 63.4 Public sector LDOD 1.5 10.3 58.9 92.8 108.1 162.6 164.3 163.3 174.1 196.0 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 7.4 Deutsche mark 0.0 0.0 0.7 0.4 0.4 0.2 0.2 .. .. .. French franc 0.0 0.0 0.2 3.6 3.0 1.9 2.1 .. .. .. Japanese yen 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Pound sterling 0.0 36.7 4.6 4.3 5.3 3.1 2.8 2.2 0.1 0.1 Swiss franc 0.0 0.0 0.2 0.9 0.8 0.4 0.3 0.3 0.2 0.2 U.S.dollars 0.0 20.9 67.5 74.4 70.9 82.6 82.7 84.3 82.6 72.7 Multiple currency 0.0 11.3 9.8 3.0 1.9 0.9 0.5 0.3 0.2 0.1 Special drawing rights 0.0 0.0 3.6 2.9 2.7 1.3 1.8 1.6 1.6 1.4 All other currencies 100.0 31.1 13.2 10.5 15.0 9.7 9.6 5.1 8.5 18.0 495 ST. VINCENT AND THE GRENADINES (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 0.0 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 1.4 0.0 0.0 0.0 0.8 3.4 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 .. .. 8.2 -4.9 18.1 57.9 1.2 -1.0 11.8 23.1 Net flows on debt 0.4 3.4 5.2 -0.7 17.0 61.5 1.5 0.2 10.8 17.9 Net change in interest arrears .. .. 0.0 -0.3 -0.2 0.1 0.3 0.9 1.1 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 -1.4 0.0 0.0 0.0 -0.8 -3.4 0.0 Cross-currency valuation .. .. 1.3 -2.8 0.7 -3.0 -1.8 -1.0 3.4 3.8 Residual .. .. 2.6 0.3 0.7 -0.6 1.2 -0.3 0.0 0.2 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.5 4.8 4.0 4.3 3.9 4.4 2.5 3.9 2.4 6.5 Maturity (years) 13.5 17.2 20.7 15.6 20.7 18.8 30.1 16.6 20.7 14.8 Grace period (years) 13.5 4.9 4.9 3.5 5.5 4.3 10.3 3.4 6.1 0.1 Grant element (%) 18.1 32.8 39.8 32.2 41.6 34.9 61.6 34.1 51.6 13.1 Official creditors Interest (%) 0.0 4.0 4.0 4.3 3.9 0.0 2.5 3.4 2.4 4.9 Maturity (years) 0.0 20.1 20.7 15.6 20.7 0.0 30.1 23.1 20.7 22.4 Grace period (years) 0.0 6.1 4.9 3.5 5.5 0.0 10.3 6.9 6.1 0.0 Grant element (%) 0.0 40.2 39.8 32.2 41.6 0.0 61.6 47.2 51.6 28.8 Private creditors Interest (%) 7.5 7.5 0.0 0.0 0.0 4.4 0.0 4.2 0.0 7.4 Maturity (years) 13.5 7.3 0.0 0.0 0.0 18.8 0.0 11.3 0.0 10.1 Grace period (years) 13.5 0.8 0.0 0.0 0.0 4.3 0.0 0.5 0.0 0.1 Grant element (%) 18.1 7.2 0.0 0.0 0.0 34.9 0.0 23.3 0.0 3.2 Memorandum items Commitments 0 6 8 2 13 58 1 16 29 36 Official creditors 0 4 8 2 13 0 1 7 29 14 Private creditors 0 1 0 0 0 58 0 9 0 22 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 10.7 14.0 9.4 5.9 3.5 2.2 1.1 0.8 0.4 0.2 Principal 16.6 15.4 14.5 14.2 15.1 15.6 15.6 14.7 14.6 13.7 Interest 5.3 5.3 5.2 5.0 4.7 4.3 4.0 3.6 3.2 2.9 Official creditors Disbursements 10.7 14.0 9.4 5.9 3.5 2.2 1.1 0.8 0.4 0.2 Principal 11.0 9.9 9.2 8.9 9.9 10.4 10.4 9.4 9.3 8.9 Interest 2.9 3.1 3.1 3.0 2.8 2.6 2.3 2.0 1.8 1.5 Bilateral creditors Disbursements 4.5 4.6 3.2 2.1 1.2 0.5 0.4 0.2 0.0 0.0 Principal 3.7 2.8 3.0 2.9 3.4 3.8 3.8 3.2 3.2 3.0 Interest 1.0 1.0 1.0 1.0 0.9 0.8 0.7 0.6 0.5 0.4 Multilateral creditors Disbursements 6.1 9.4 6.2 3.8 2.4 1.7 0.8 0.6 0.4 0.2 Principal 7.3 7.0 6.2 6.0 6.5 6.5 6.6 6.2 6.1 6.0 Interest 2.0 2.0 2.1 2.0 1.9 1.7 1.6 1.4 1.2 1.1 Private creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 5.5 5.5 5.3 5.3 5.3 5.3 5.3 5.3 5.3 4.7 Interest 2.3 2.2 2.1 2.0 1.9 1.8 1.7 1.6 1.4 1.3 Commercial banks Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.3 0.3 0.1 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 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3 4.7 Interest 2.3 2.2 2.1 2.0 1.9 1.8 1.7 1.6 1.4 1.3 496 SUDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 385 5,177 14,762 16,326 16,843 16,132 15,741 15,414 16,389 17,496 Long-term debt (LDOD) 294 4,147 9,651 9,494 9,722 9,348 9,143 8,984 9,539 10,065 Public and publicly guaranteed 294 3,822 9,155 8,998 9,226 8,852 8,647 8,488 9,043 9,569 Private nonguaranteed 0 325 496 496 496 496 496 496 496 496 Use of IMF credit 31 431 956 797 772 715 625 551 573 599 Short-term debt 61 599 4,155 6,035 6,349 6,069 5,974 5,879 6,277 6,832 of which interest arrears on LDOD 0 63 3,705 5,624 5,893 5,761 5,703 5,738 6,139 6,699 Official creditors 0 33 3,244 4,721 4,922 4,876 4,830 4,878 5,173 5,658 Private creditors 0 30 461 903 971 885 873 860 967 1,041 Memo: principal arrears on LDOD 0 551 5,703 7,321 7,608 7,414 7,307 7,309 7,877 8,405 Official creditors 0 108 3,893 5,348 5,553 5,572 5,494 5,527 5,833 6,177 Private creditors 0 444 1,811 1,973 2,055 1,843 1,813 1,782 2,044 2,228 Memo: export credits 0 0 2,972 2,912 2,068 2,006 2,104 2,310 2,876 3,012 TOTAL DEBT FLOWS Disbursements 47 921 185 5 0 0 0 0 0 0 Long-term debt 47 711 185 5 0 0 0 0 0 0 IMF purchases 0 210 0 0 0 0 0 0 0 0 Principal repayments 29 131 16 42 58 43 59 54 22 30 Long-term debt 21 53 15 0 1 6 4 2 0 4 IMF repurchases 8 78 1 42 57 38 54 52 22 26 Net flows on debt 70 839 169 -157 -13 -191 -97 -183 -26 -34 of which short-term debt 52 50 0 -120 45 -147 -39 -129 -4 -4 Interest payments (INT) 13 133 34 15 3 13 2 2 1 4 Long-term debt 12 49 9 0 2 7 2 1 0 4 IMF charges 0 14 0 15 1 7 0 1 1 0 Short-term debt 1 70 25 0 0 0 0 0 0 0 Net transfers on debt 57 707 135 -172 -16 -204 -100 -185 -27 -38 Total debt service paid (TDS) 42 264 50 58 61 57 61 56 23 34 Long-term debt 33 102 23 0 3 12 7 3 1 7 IMF repurchases and charges 8 92 1 57 58 44 54 53 23 26 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 1,046 603 221 557 582 564 730 1,013 1,910 Net flow of long-term debt (ex. IMF) 26 657 170 5 -1 -6 -4 -2 0 -4 Foreign direct investment (net) 0 0 0 98 371 371 392 574 713 1,349 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 3 388 433 118 188 216 176 158 300 564 Memo: technical coop. grants 7 103 184 33 26 33 33 30 43 58 official net resource flows 32 908 603 123 187 211 171 156 300 560 private net resource flows -3 138 0 98 371 371 392 574 713 1,349 NET TRANSFERS 17 997 595 220 556 575 561 729 380 1,374 Interest on long-term debt 12 49 9 0 2 7 2 1 0 4 Profit remittances on FDI 0 0 0 0 0 0 0 0 633 531 Memo: official net transfers 22 864 595 123 185 204 169 155 300 557 private net transfers -5 133 0 98 371 371 392 574 80 818 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,086 7,475 12,383 9,510 10,428 9,456 10,304 12,175 14,165 16,348 Exports of goods, serv. & inc. (XGS) .. 1,286 573 1,059 1,312 1,545 2,477 2,462 3,081 3,807 Worker remit. & comp. of employees 0 262 62 420 687 665 641 740 978 1,224 Imports of goods & services (MGS) .. 1,576 1,025 1,600 1,947 1,654 2,594 2,627 3,750 4,246 International reserves (RES) 22 49 11 82 91 189 247 118 441 848 Current account balance .. -316 -372 -828 -957 -431 -518 -522 -974 -939 4. DEBT INDICATORS EDT / XGS (%) .. 402.5 2,574.9 1,541.7 1,284.1 1,044.2 635.5 626.2 532.0 459.6 EDT / GNI (%) 18.5 69.3 119.2 171.7 161.5 170.6 152.8 126.6 115.7 107.0 TDS / XGS (%) .. 20.5 8.7 5.4 4.7 3.7 2.5 2.3 0.8 0.9 INT / XGS (%) .. 10.3 5.9 1.4 0.2 0.9 0.1 0.1 0.0 0.1 INT / GNI (%) 0.6 1.8 0.3 0.2 0.0 0.1 0.0 0.0 0.0 0.0 RES / EDT (%) 5.6 0.9 0.1 0.5 0.5 1.2 1.6 0.8 2.7 4.8 RES / MGS (months) .. 0.4 0.1 0.6 0.6 1.4 1.1 0.5 1.4 2.4 Short-term / EDT (%) 15.7 11.6 28.1 37.0 37.7 37.6 37.9 38.1 38.3 39.0 Concessional / EDT (%) 36.0 33.4 30.2 28.4 27.9 28.8 29.0 29.2 28.3 27.4 Multilateral / EDT (%) 26.9 12.2 11.7 12.3 12.2 12.5 12.4 12.3 12.1 12.0 497 SUDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 294 4,147 9,651 9,494 9,722 9,348 9,143 8,984 9,539 10,065 Public and publicly guaranteed 294 3,822 9,155 8,998 9,226 8,852 8,647 8,488 9,043 9,569 Official creditors 256 3,293 7,500 7,521 7,666 7,505 7,330 7,202 7,495 7,838 Multilateral 103 634 1,723 2,001 2,051 2,011 1,946 1,899 1,990 2,101 Concessional 12 368 1,549 1,798 1,839 1,806 1,750 1,709 1,794 1,896 Bilateral 153 2,659 5,777 5,521 5,615 5,494 5,383 5,303 5,504 5,737 Concessional 126 1,361 2,903 2,838 2,865 2,848 2,820 2,794 2,839 2,890 Private creditors 37 529 1,655 1,477 1,559 1,347 1,317 1,286 1,548 1,732 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 27 298 1,651 1,473 1,555 1,343 1,313 1,282 1,544 1,728 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 3 1 0 0 0 IDA 12 190 1,028 1,198 1,226 1,208 1,167 1,137 1,192 1,262 DISBURSEMENTS 47 711 185 5 0 0 0 0 0 0 Public and publicly guaranteed 47 711 185 5 0 0 0 0 0 0 Official creditors 45 566 185 5 0 0 0 0 0 0 Multilateral 15 189 185 5 0 0 0 0 0 0 Concessional 0 80 180 0 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 1 6 4 2 0 4 Public and publicly guaranteed 21 53 15 0 1 6 4 2 0 4 Official creditors 16 46 15 0 1 6 4 2 0 4 Multilateral 4 15 15 0 1 6 4 2 0 4 Concessional 0 3 4 0 0 0 2 1 0 3 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 3 2 0 0 0 IDA 0 0 4 0 0 0 2 1 0 3 NET FLOWS ON DEBT 26 657 170 5 -1 -6 -4 -2 0 -4 Public and publicly guaranteed 26 657 170 5 -1 -6 -4 -2 0 -4 Official creditors 29 520 170 5 -1 -6 -4 -2 0 -4 Multilateral 11 174 170 5 -1 -6 -4 -2 0 -4 Concessional 0 77 176 0 0 0 -2 -1 0 -3 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 -3 -2 0 0 0 IDA 0 36 117 0 0 0 -2 -1 0 -3 498 SUDAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 12 49 9 0 2 7 2 1 0 4 Public and publicly guaranteed 12 49 9 0 2 7 2 1 0 4 Official creditors 10 44 9 0 2 7 2 1 0 4 Multilateral 5 8 9 0 2 7 2 1 0 4 Concessional 0 2 6 0 0 0 2 1 0 2 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 1 0 0 0 0 IDA 0 1 6 0 0 0 2 1 0 2 NET TRANSFERS ON DEBT 14 609 162 4 -3 -12 -7 -3 -1 -7 Public and publicly guaranteed 14 609 162 4 -3 -12 -7 -3 -1 -7 Official creditors 20 476 162 4 -3 -12 -7 -3 -1 -7 Multilateral 6 166 162 4 -3 -12 -7 -3 -1 -7 Concessional 0 75 169 0 0 0 -4 -2 -1 -5 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 -4 -3 0 0 0 IDA 0 35 110 0 0 0 -4 -2 -1 -5 DEBT SERVICE (LTDS) 33 102 23 0 3 12 7 3 1 7 Public and publicly guaranteed 33 102 23 0 3 12 7 3 1 7 Official creditors 26 90 23 0 3 12 7 3 1 7 Multilateral 9 23 23 0 3 12 7 3 1 7 Concessional 0 5 10 0 0 0 4 2 1 5 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 4 3 0 0 0 IDA 0 1 10 0 0 0 4 2 1 5 UNDISBURSED DEBT 124 1,309 1,284 561 540 23 22 1 1 1 Official creditors 119 1,167 1,284 561 540 23 22 1 1 1 Private creditors 4 143 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 139 1,729 4,452 4,636 4,704 4,654 4,569 4,504 4,634 4,786 Variable rate LDOD 0 408 1,927 1,772 1,844 1,660 1,634 1,607 1,834 1,993 Public sector LDOD 294 4,145 9,651 9,494 9,722 9,348 9,143 8,984 9,539 10,065 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 9.4 Deutsche mark 7.1 0.5 1.0 0.8 0.9 0.8 0.8 .. .. .. French franc 0.0 2.3 3.4 3.0 3.1 2.8 2.6 .. .. .. Japanese yen 0.0 2.0 2.3 2.5 2.7 3.2 2.9 2.6 2.7 2.8 Pound sterling 15.6 7.0 4.3 3.8 3.7 3.8 3.7 3.7 3.7 3.8 Swiss franc 0.0 0.6 18.6 16.9 17.4 15.6 15.6 15.5 17.6 18.6 U.S.dollars 11.1 54.4 48.1 50.8 49.9 51.7 52.5 53.1 50.5 48.5 Multiple currency 31.1 2.0 1.2 1.6 1.6 1.7 1.6 1.6 1.6 1.5 Special drawing rights 0.0 0.0 0.5 0.5 0.5 0.5 0.5 0.4 0.5 0.5 All other currencies 35.2 31.1 20.6 20.1 20.2 20.0 19.9 15.7 15.3 14.9 499 SUDAN (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 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 -646 517 -711 -391 -327 974 1,107 Net flows on debt 70 839 169 -157 -13 -191 -97 -183 -26 -34 Net change in interest arrears .. .. 645 -59 269 -132 -57 35 401 560 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 -484 167 -367 -220 -162 578 542 Residual .. .. 71 54 94 -21 -17 -17 22 40 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 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 104 100 96 89 88 85 477 89 77 72 Interest 48 44 42 39 36 34 31 17 15 14 Official creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 104 100 96 89 88 85 477 89 77 72 Interest 48 44 42 39 36 34 31 17 15 14 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 43 40 37 32 29 28 417 25 22 19 Interest 31 29 27 26 24 23 21 7 6 5 Multilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 61 59 59 56 59 58 60 64 55 53 Interest 16 15 14 13 12 11 10 10 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 0 500 SWAZILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 37.0 205.7 242.8 385.1 274.7 301.3 296.4 303.5 341.7 399.8 Long-term debt (LDOD) 37.0 185.0 238.2 227.0 246.5 248.5 231.4 230.5 273.6 346.3 Public and publicly guaranteed 37.0 185.0 238.2 227.0 246.5 248.5 231.4 230.5 273.6 346.3 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 4.6 158.1 28.2 52.8 65.0 73.0 68.1 53.5 of which interest arrears on LDOD 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0 6.1 13.5 Official creditors 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0 3.0 8.1 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.1 5.4 Memo: principal arrears on LDOD 0.0 0.0 0.2 1.1 1.2 0.3 0.2 0.2 4.0 7.0 Official creditors 0.0 0.0 0.2 1.1 1.2 0.3 0.2 0.2 4.0 7.0 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements 4.6 29.1 14.1 54.8 30.6 32.9 15.8 35.7 12.9 40.9 Long-term debt 3.5 26.5 14.1 54.8 30.6 32.9 15.8 35.7 12.9 40.9 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 15.7 13.4 16.5 14.7 14.1 10.8 13.3 Long-term debt 1.5 7.5 35.7 15.7 13.4 16.5 14.7 14.1 10.8 13.3 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 -38.7 195.1 -112.7 41.1 13.3 29.6 -8.8 5.7 of which short-term debt 0.0 7.0 -16.7 156.1 -129.9 24.7 12.2 8.0 -11.0 -22.0 Interest payments (INT) 1.9 10.6 10.4 14.7 16.0 20.1 21.2 14.2 10.2 14.3 Long-term debt 1.9 9.0 9.9 6.9 14.4 18.5 16.7 11.2 8.2 13.3 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 7.8 1.6 1.6 4.5 3.0 2.0 1.0 Net transfers on debt 0.2 18.0 -49.0 180.4 -128.7 21.0 -7.8 15.3 -19.0 -8.6 Total debt service paid (TDS) 4.4 18.1 46.4 30.4 29.4 36.5 35.9 28.4 20.9 27.6 Long-term debt 3.4 16.5 45.6 22.6 27.8 35.0 31.4 25.4 18.9 26.6 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 7.8 1.6 1.6 4.5 3.0 2.0 1.0 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 5.4 57.2 26.3 41.2 188.8 131.2 102.6 79.8 54.8 83.5 Net flow of long-term debt (ex. IMF) 2.0 19.0 -21.6 39.0 17.2 16.5 1.1 21.6 2.2 27.7 Foreign direct investment (net) 0.0 26.5 30.1 -15.3 152.7 100.4 90.2 49.8 45.0 43.5 Portfolio equity flows 0.0 0.0 -2.2 -0.1 3.4 2.7 1.4 -2.5 -0.1 0.0 Grants (excluding technical coop.) 3.5 11.8 20.1 17.6 15.5 11.6 9.9 11.0 7.8 12.3 Memo: technical coop. grants 2.0 22.7 27.3 14.4 19.0 11.6 9.5 9.1 9.5 7.8 official net resource flows 6.5 33.4 0.4 24.1 32.7 28.1 11.0 18.6 9.9 40.0 private net resource flows -1.0 23.9 26.0 17.2 156.1 103.1 91.6 61.3 44.9 43.5 NET TRANSFERS 3.6 21.1 -69.0 10.7 77.8 58.6 4.8 -21.6 -30.6 -11.0 Interest on long-term debt 1.9 9.0 9.9 6.9 14.4 18.5 16.7 11.2 8.2 13.3 Profit remittances on FDI 0.0 27.2 85.4 23.7 96.6 54.0 81.1 90.2 77.2 81.2 Memo: official net transfers 5.7 26.4 -8.7 17.2 25.7 16.2 0.2 9.8 2.7 30.7 private net transfers -2.1 -5.3 -60.2 -6.5 52.1 42.5 4.6 -31.4 -33.3 -41.8 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 98.7 551.0 918.4 1,570.2 1,354.6 1,414.3 1,436.8 1,346.5 1,234.9 1,892.6 Exports of goods, serv. & inc. (XGS) .. 450.7 819.6 1,235.9 1,227.1 1,170.1 1,272.2 1,320.6 1,213.2 1,690.9 Worker remit. & comp. of employees 0.0 35.0 113.0 84.0 78.0 70.0 74.0 74.0 62.0 62.0 Imports of goods & services (MGS) .. 659.2 870.4 1,355.0 1,452.9 1,336.4 1,444.4 1,407.9 1,269.9 1,825.9 International reserves (RES) .. 158.7 216.5 294.8 358.6 375.9 351.8 271.8 275.8 277.5 Current account balance .. -129.7 50.7 -2.7 -93.3 -35.1 -65.2 -53.0 -46.3 -83.0 4. DEBT INDICATORS EDT / XGS (%) .. 45.6 29.6 31.2 22.4 25.7 23.3 23.0 28.2 23.6 EDT / GNI (%) 37.5 37.3 26.4 24.5 20.3 21.3 20.6 22.5 27.7 21.1 TDS / XGS (%) .. 4.0 5.7 2.5 2.4 3.1 2.8 2.1 1.7 1.6 INT / XGS (%) .. 2.3 1.3 1.2 1.3 1.7 1.7 1.1 0.8 0.8 INT / GNI (%) 1.9 1.9 1.1 0.9 1.2 1.4 1.5 1.1 0.8 0.8 RES / EDT (%) .. 77.2 89.2 76.6 130.5 124.8 118.7 89.6 80.7 69.4 RES / MGS (months) .. 2.9 3.0 2.6 3.0 3.4 2.9 2.3 2.6 1.8 Short-term / EDT (%) 0.0 7.3 1.9 41.1 10.3 17.5 21.9 24.1 19.9 13.4 Concessional / EDT (%) 33.0 39.9 61.2 32.7 46.4 41.3 38.0 37.1 37.3 43.0 Multilateral / EDT (%) 24.1 30.1 47.9 32.8 50.7 45.2 46.8 48.3 49.8 46.9 501 SWAZILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 37.0 185.0 238.2 227.0 246.5 248.5 231.4 230.5 273.6 346.3 Public and publicly guaranteed 37.0 185.0 238.2 227.0 246.5 248.5 231.4 230.5 273.6 346.3 Official creditors 20.9 160.8 231.4 196.1 220.9 224.1 211.6 208.3 242.5 305.9 Multilateral 8.9 61.8 116.2 126.1 139.3 136.3 138.7 146.5 170.0 187.4 Concessional 2.8 16.7 42.7 56.6 59.9 62.0 59.7 62.4 71.3 75.0 Bilateral 12.0 99.0 115.2 70.0 81.6 87.8 72.9 61.9 72.5 118.4 Concessional 9.4 65.3 105.9 69.3 67.5 62.4 52.8 50.1 56.0 97.0 Private creditors 16.1 24.2 6.8 30.8 25.6 24.4 19.8 22.1 31.1 40.4 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 30.8 25.6 24.4 19.8 22.1 31.1 40.4 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 9.9 9.9 9.1 9.0 9.0 9.1 14.8 IDA 2.8 7.5 6.8 5.4 5.2 4.9 4.7 4.4 4.2 3.9 DISBURSEMENTS 3.5 26.5 14.1 54.8 30.6 32.9 15.8 35.7 12.9 40.9 Public and publicly guaranteed 3.5 26.5 14.1 54.8 30.6 32.9 15.8 35.7 12.9 40.9 Official creditors 3.5 26.5 14.1 22.2 30.6 32.9 15.8 21.7 12.9 40.9 Multilateral 0.4 15.4 8.2 21.3 15.5 14.7 15.8 18.4 9.7 9.1 Concessional 0.0 0.3 2.6 2.9 3.2 5.0 2.3 6.4 6.4 0.5 Bilateral 3.1 11.0 5.9 0.9 15.1 18.2 0.0 3.3 3.2 31.9 Concessional 3.1 6.2 5.9 0.9 0.4 5.7 0.0 3.3 3.2 31.9 Private creditors 0.0 0.0 0.0 32.6 0.0 0.0 0.0 14.0 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 32.6 0.0 0.0 0.0 14.0 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 0.4 2.1 1.0 1.3 2.7 1.0 0.7 1.0 1.0 6.8 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 15.7 13.4 16.5 14.7 14.1 10.8 13.3 Public and publicly guaranteed 1.5 7.5 35.7 15.7 13.4 16.5 14.7 14.1 10.8 13.3 Official creditors 0.5 4.9 33.7 15.7 13.4 16.5 14.7 14.1 10.8 13.3 Multilateral 0.2 1.2 26.8 9.4 7.7 12.5 8.1 8.9 7.5 9.7 Concessional 0.0 0.1 1.1 1.5 1.6 2.0 2.4 1.9 1.6 1.8 Bilateral 0.3 3.7 6.9 6.3 5.7 3.9 6.6 5.2 3.2 3.6 Concessional 0.2 1.2 4.2 6.0 5.4 3.6 5.9 4.1 3.2 3.6 Private creditors 1.0 2.6 1.9 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 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 0.0 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 0.2 0.7 20.4 4.8 2.7 1.7 0.9 1.0 0.9 1.0 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 39.0 17.2 16.5 1.1 21.6 2.2 27.7 Public and publicly guaranteed 2.0 19.0 -21.6 39.0 17.2 16.5 1.1 21.6 2.2 27.7 Official creditors 3.0 21.6 -19.7 6.4 17.2 16.5 1.1 7.6 2.2 27.7 Multilateral 0.2 14.3 -18.6 11.8 7.8 2.2 7.7 9.5 2.2 -0.7 Concessional 0.0 0.2 1.5 1.4 1.5 3.0 -0.1 4.5 4.8 -1.4 Bilateral 2.8 7.3 -1.1 -5.4 9.4 14.2 -6.6 -1.9 0.0 28.3 Concessional 2.9 5.0 1.7 -5.1 -5.0 2.1 -5.9 -0.8 0.0 28.3 Private creditors -1.0 -2.6 -1.9 32.6 0.0 0.0 0.0 14.0 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 32.6 0.0 0.0 0.0 14.0 0.0 0.0 Other private -0.1 -0.1 -1.7 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 0.2 1.3 -19.4 -3.4 -0.1 -0.7 -0.1 0.0 0.1 5.8 IDA 0.0 0.3 -0.2 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 502 SWAZILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 1.9 9.0 9.9 6.9 14.4 18.5 16.7 11.2 8.2 13.3 Public and publicly guaranteed 1.9 9.0 9.9 6.9 14.4 18.5 16.7 11.2 8.2 13.3 Official creditors 0.8 7.0 9.1 6.9 7.0 11.9 10.8 8.7 7.2 9.2 Multilateral 0.4 3.1 6.5 5.5 5.8 8.9 5.2 5.4 6.8 8.6 Concessional 0.0 0.1 0.5 0.5 0.7 0.7 0.5 0.5 0.6 0.7 Bilateral 0.4 3.9 2.6 1.4 1.2 3.0 5.7 3.3 0.4 0.7 Concessional 0.2 0.6 1.4 1.3 1.2 1.0 1.5 0.7 0.4 0.7 Private creditors 1.1 2.0 0.8 0.0 7.4 6.6 5.9 2.5 1.0 4.1 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 7.4 6.6 5.9 2.5 1.0 4.1 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 1.1 0.7 0.7 0.8 0.7 0.7 0.6 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 32.2 2.8 -2.1 -15.6 10.3 -6.0 14.4 Public and publicly guaranteed 0.1 10.0 -31.5 32.2 2.8 -2.1 -15.6 10.3 -6.0 14.4 Official creditors 2.2 14.6 -28.8 -0.4 10.2 4.6 -9.7 -1.2 -5.0 18.4 Multilateral -0.2 11.1 -25.2 6.3 2.0 -6.6 2.5 4.1 -4.6 -9.2 Concessional 0.0 0.1 1.0 0.9 0.9 2.3 -0.6 4.0 4.1 -2.1 Bilateral 2.4 3.5 -3.6 -6.8 8.2 11.2 -12.2 -5.2 -0.4 27.7 Concessional 2.7 4.4 0.3 -6.4 -6.2 1.1 -7.3 -1.5 -0.4 27.7 Private creditors -2.1 -4.6 -2.7 32.6 -7.4 -6.6 -5.9 11.5 -1.0 -4.1 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 32.6 -7.4 -6.6 -5.9 11.5 -1.0 -4.1 Other private -0.1 -0.2 -2.5 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 -0.2 -0.4 -23.0 -4.5 -0.7 -1.3 -0.9 -0.8 -0.6 5.2 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 22.6 27.8 35.0 31.4 25.4 18.9 26.6 Public and publicly guaranteed 3.4 16.5 45.6 22.6 27.8 35.0 31.4 25.4 18.9 26.6 Official creditors 1.3 11.9 42.8 22.6 20.4 28.3 25.5 22.9 18.0 22.5 Multilateral 0.6 4.3 33.3 14.9 13.5 21.4 13.3 14.4 14.3 18.3 Concessional 0.0 0.2 1.6 2.0 2.3 2.7 2.9 2.4 2.3 2.6 Bilateral 0.7 7.6 9.5 7.7 6.9 7.0 12.3 8.5 3.6 4.2 Concessional 0.4 1.8 5.6 7.3 6.6 4.6 7.4 4.8 3.6 4.2 Private creditors 2.1 4.6 2.7 0.0 7.4 6.6 5.9 2.5 1.0 4.1 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 7.4 6.6 5.9 2.5 1.0 4.1 Other private 0.1 0.2 2.5 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 0.5 2.5 24.1 5.8 3.4 2.4 1.6 1.8 1.6 1.7 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 63.2 105.3 110.0 82.1 64.8 91.0 71.1 172.6 Official creditors 0.0 60.2 63.2 105.3 110.0 82.1 64.8 91.0 71.1 148.6 Private creditors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24.1 Memorandum items Concessional LDOD 12.2 82.0 148.6 125.9 127.3 124.4 112.5 112.5 127.3 172.0 Variable rate LDOD 0.0 23.8 8.1 6.8 8.8 9.1 9.0 9.0 21.7 31.7 Public sector LDOD 37.0 185.0 238.2 227.0 246.5 248.5 231.4 230.5 273.6 346.3 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 13.7 Deutsche mark 0.0 12.9 17.5 15.9 15.1 12.9 11.6 .. .. .. French franc 0.0 0.0 0.6 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 3.3 2.2 1.5 1.1 0.9 0.5 0.4 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 7.5 10.1 11.6 11.8 13.9 13.5 12.0 Multiple currency 16.5 17.3 35.3 44.7 42.6 41.3 40.9 38.7 34.5 39.1 Special drawing rights 0.0 0.0 2.3 1.2 1.1 1.4 1.0 1.3 1.1 0.8 All other currencies 37.7 26.0 21.5 27.3 28.8 31.4 33.6 30.7 36.3 34.0 503 SWAZILAND (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 0.0 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 .. .. -17.2 177.2 -110.4 26.6 -4.9 7.0 38.2 58.1 Net flows on debt 2.1 28.6 -38.7 195.1 -112.7 41.1 13.3 29.6 -8.8 5.7 Net change in interest arrears .. .. 0.0 0.0 0.0 -0.1 0.0 0.0 6.1 7.4 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 -12.2 -2.3 -11.9 -12.8 -14.7 22.0 15.3 Residual .. .. 8.9 -5.6 4.6 -2.6 -5.4 -7.8 19.0 29.7 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 8.0 0.0 13.5 11.0 3.0 3.0 6.7 0.0 4.9 Maturity (years) 25.5 18.7 0.0 30.5 19.1 17.6 40.2 23.8 0.0 20.0 Grace period (years) 7.7 5.0 0.0 30.5 3.3 4.1 27.2 8.0 0.0 4.6 Grant element (%) 76.8 11.9 0.0 -33.1 -6.0 42.7 66.3 26.6 0.0 33.3 Official creditors Interest (%) 0.0 8.0 0.0 0.0 11.0 3.0 3.0 4.3 0.0 2.9 Maturity (years) 25.5 18.7 0.0 0.0 19.1 17.6 40.2 26.7 0.0 20.2 Grace period (years) 7.7 5.0 0.0 0.0 3.3 4.1 27.2 8.8 0.0 4.7 Grant element (%) 76.8 11.9 0.0 0.0 -6.0 42.7 66.3 43.2 0.0 46.7 Private creditors Interest (%) 0.0 0.0 0.0 13.5 0.0 0.0 0.0 15.0 0.0 15.0 Maturity (years) 0.0 0.0 0.0 30.5 0.0 0.0 0.0 13.9 0.0 19.4 Grace period (years) 0.0 0.0 0.0 30.5 0.0 0.0 0.0 5.0 0.0 4.0 Grant element (%) 0.0 0.0 0.0 -33.1 0.0 0.0 0.0 -31.1 0.0 -34.3 Memorandum items Commitments 3 14 0 33 41 8 1 63 0 129 Official creditors 3 14 0 0 41 8 1 49 0 107 Private creditors 0 0 0 33 0 0 0 14 0 21 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 38.4 50.3 30.8 21.2 13.8 9.4 5.6 2.3 0.8 0.1 Principal 20.3 20.7 22.1 27.7 30.6 30.0 29.3 31.5 29.8 27.9 Interest 20.9 22.6 22.9 22.3 20.9 19.4 17.8 16.2 14.4 12.6 Official creditors Disbursements 26.8 42.3 27.7 19.8 13.8 9.4 5.6 2.3 0.8 0.1 Principal 20.3 20.7 20.8 24.2 27.2 26.6 25.8 28.0 26.4 24.4 Interest 13.4 13.9 13.8 13.2 12.4 11.4 10.4 9.2 8.0 6.7 Bilateral creditors Disbursements 6.1 4.1 2.5 1.5 0.7 0.5 0.3 0.3 0.2 0.1 Principal 7.2 7.2 7.4 7.6 6.6 5.7 5.2 7.3 6.1 6.1 Interest 5.7 5.6 5.4 5.1 4.8 4.6 4.3 4.0 3.6 3.2 Multilateral creditors Disbursements 20.7 38.2 25.2 18.3 13.0 8.9 5.3 2.0 0.6 0.0 Principal 13.0 13.4 13.4 16.6 20.6 20.9 20.7 20.7 20.3 18.3 Interest 7.7 8.3 8.4 8.1 7.6 6.9 6.1 5.2 4.4 3.5 Private creditors Disbursements 11.6 7.9 3.1 1.4 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 1.3 3.4 3.4 3.4 3.4 3.4 3.4 3.4 Interest 7.5 8.7 9.1 9.0 8.5 8.0 7.5 7.0 6.4 5.9 Commercial banks Disbursements 11.6 7.9 3.1 1.4 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 0.0 1.3 3.4 3.4 3.4 3.4 3.4 3.4 3.4 Interest 7.5 8.7 9.1 9.0 8.5 8.0 7.5 7.0 6.4 5.9 Other private Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 0.0 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 0.0 504 SYRIAN ARAB REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 276 3,548 17,259 20,937 22,460 22,369 21,657 21,341 21,466 21,566 Long-term debt (LDOD) 231 2,917 15,108 16,326 16,353 16,142 15,930 15,809 15,849 15,848 Public and publicly guaranteed 231 2,917 15,108 16,326 16,353 16,142 15,930 15,809 15,849 15,848 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 4,611 6,107 6,227 5,727 5,532 5,617 5,718 of which interest arrears on LDOD 0 0 460 1,976 2,155 2,301 2,407 2,532 2,617 2,718 Official creditors 0 0 407 1,838 2,011 2,160 2,267 2,393 2,473 2,566 Private creditors 0 0 53 138 144 142 140 139 145 152 Memo: principal arrears on LDOD 0 0 864 7,410 8,238 9,039 9,820 10,583 11,455 12,289 Official creditors 0 0 580 6,447 7,218 8,002 8,775 9,540 10,385 11,189 Private creditors 0 0 284 963 1,020 1,037 1,046 1,043 1,071 1,100 Memo: export credits 0 0 360 381 352 359 585 527 621 697 TOTAL DEBT FLOWS Disbursements 63 1,147 186 104 64 34 18 0 0 0 Long-term debt 60 1,147 186 104 64 34 18 0 0 0 IMF purchases 3 0 0 0 0 0 0 0 0 0 Principal repayments 30 225 1,066 353 94 127 121 102 110 165 Long-term debt 30 225 1,066 353 94 127 121 102 110 165 IMF repurchases 0 0 0 0 0 0 0 0 0 0 Net flows on debt 33 1,239 -672 -514 1,286 -120 -708 -421 -109 -165 of which short-term debt 0 317 208 -265 1,317 -27 -605 -320 0 0 Interest payments (INT) 6 157 123 202 243 243 222 179 172 174 Long-term debt 6 77 41 63 78 79 102 64 49 55 IMF charges 0 0 0 0 0 0 0 0 0 0 Short-term debt 0 80 82 138 165 164 120 115 123 119 Net transfers on debt 27 1,082 -795 -716 1,044 -363 -930 -600 -281 -339 Total debt service paid (TDS) 36 382 1,189 554 337 370 343 280 281 339 Long-term debt 36 302 1,107 416 172 206 223 165 158 220 IMF repurchases and charges 0 0 0 0 0 0 0 0 0 0 Short-term debt (interest only) 0 80 82 138 165 164 120 115 123 119 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 41 2,573 -188 -97 147 226 226 74 78 68 Net flow of long-term debt (ex. IMF) 30 922 -880 -249 -31 -93 -103 -101 -109 -165 Foreign direct investment (net) 0 0 72 80 82 263 270 110 115 150 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 11 1,651 621 72 96 57 59 66 73 83 Memo: technical coop. grants 8 26 31 47 50 44 42 45 51 94 official net resource flows 11 2,531 -251 -172 69 -32 -40 -34 -35 -78 private net resource flows 30 42 63 75 78 258 266 109 114 146 NET TRANSFERS 35 2,496 -229 -160 69 147 124 10 30 14 Interest on long-term debt 6 77 41 63 78 79 102 64 49 55 Profit remittances on FDI 0 0 0 0 0 0 0 0 0 0 Memo: official net transfers 9 2,485 -283 -234 -8 -110 -141 -98 -84 -132 private net transfers 25 11 54 73 77 258 266 108 113 146 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,219 13,565 11,955 14,246 14,612 15,298 17,231 18,320 19,026 20,626 Exports of goods, serv. & inc. (XGS) .. 3,341 5,460 6,060 5,177 5,813 7,190 7,866 8,477 8,118 Worker remit. & comp. of employees 0 0 664 728 725 663 656 653 610 618 Imports of goods & services (MGS) .. 4,610 3,786 6,098 5,650 6,101 6,614 7,138 7,516 7,375 International reserves (RES) 57 828 .. .. .. .. .. .. .. .. Current account balance .. 251 1,762 461 58 201 1,061 1,221 1,440 752 4. DEBT INDICATORS EDT / XGS (%) .. 106.2 316.1 345.5 433.8 384.8 301.2 271.3 253.2 265.7 EDT / GNI (%) 12.4 26.2 144.4 147.0 153.7 146.2 125.7 116.5 112.8 104.6 TDS / XGS (%) .. 11.4 21.8 9.1 6.5 6.4 4.8 3.6 3.3 4.2 INT / XGS (%) .. 4.7 2.3 3.3 4.7 4.2 3.1 2.3 2.0 2.1 INT / GNI (%) 0.3 1.2 1.0 1.4 1.7 1.6 1.3 1.0 0.9 0.8 RES / EDT (%) 20.6 23.3 .. .. .. .. .. .. .. .. RES / MGS (months) .. 2.2 .. .. .. .. .. .. .. .. Short-term / EDT (%) 12.7 17.8 12.5 22.0 27.2 27.8 26.4 25.9 26.2 26.5 Concessional / EDT (%) 14.3 51.8 76.1 71.7 67.2 66.9 68.4 68.9 68.6 68.2 Multilateral / EDT (%) 1.5 8.8 5.2 3.7 3.3 2.9 2.7 2.6 2.4 2.2 505 SYRIAN ARAB REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 231 2,917 15,108 16,326 16,353 16,142 15,930 15,809 15,849 15,848 Public and publicly guaranteed 231 2,917 15,108 16,326 16,353 16,142 15,930 15,809 15,849 15,848 Official creditors 57 2,161 13,830 15,191 15,233 15,055 14,862 14,751 14,766 14,739 Multilateral 4 311 901 771 734 641 575 557 518 475 Concessional 4 89 205 599 591 563 528 521 489 455 Bilateral 53 1,850 12,930 14,420 14,499 14,414 14,287 14,194 14,248 14,264 Concessional 35 1,749 12,929 14,418 14,497 14,412 14,286 14,193 14,246 14,262 Private creditors 174 756 1,277 1,135 1,120 1,088 1,068 1,058 1,082 1,109 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 1,135 1,120 1,088 1,068 1,058 1,082 1,109 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 85 67 41 25 15 11 4 IDA 4 42 44 34 32 31 30 28 27 25 DISBURSEMENTS 60 1,147 186 104 64 34 18 0 0 0 Public and publicly guaranteed 60 1,147 186 104 64 34 18 0 0 0 Official creditors 9 971 157 104 63 34 18 0 0 0 Multilateral 3 64 29 55 35 20 12 0 0 0 Concessional 3 2 8 54 35 20 12 0 0 0 Bilateral 6 907 128 49 28 14 6 0 0 0 Concessional 5 900 128 49 28 14 6 0 0 0 Private creditors 51 176 28 0 1 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 51 176 28 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 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 1,066 353 94 127 121 102 110 165 Public and publicly guaranteed 30 225 1,066 353 94 127 121 102 110 165 Official creditors 9 91 1,029 347 89 122 117 100 108 161 Multilateral 0 4 24 310 55 74 70 53 57 56 Concessional 0 1 8 31 20 36 44 41 46 44 Bilateral 9 88 1,005 37 34 48 48 47 51 105 Concessional 5 31 1,005 37 34 48 48 47 51 105 Private creditors 21 133 37 5 5 5 4 1 1 4 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 4 1 1 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 0 3 1 262 22 21 14 8 6 8 IDA 0 0 2 10 1 1 1 1 1 1 NET FLOWS ON DEBT 30 922 -880 -249 -31 -93 -103 -101 -109 -165 Public and publicly guaranteed 30 922 -880 -249 -31 -93 -103 -101 -109 -165 Official creditors 0 880 -872 -244 -26 -89 -99 -100 -108 -161 Multilateral 3 60 5 -256 -20 -54 -58 -53 -57 -56 Concessional 3 2 0 24 15 -16 -32 -41 -46 -44 Bilateral -3 820 -877 12 -6 -34 -41 -47 -51 -105 Concessional 0 869 -877 12 -6 -34 -41 -47 -51 -105 Private creditors 30 42 -9 -5 -4 -5 -4 -1 -1 -4 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 -4 -5 -4 -1 -1 -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 0 57 -1 -262 -22 -21 -14 -8 -6 -8 IDA 3 2 -2 -10 -1 -1 -1 -1 -1 -1 506 SYRIAN ARAB REPUBLIC (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 6 77 41 63 78 79 102 64 49 55 Public and publicly guaranteed 6 77 41 63 78 79 102 64 49 55 Official creditors 2 46 32 62 77 79 102 64 48 54 Multilateral 0 20 14 40 56 57 82 45 31 21 Concessional 0 1 5 27 24 25 23 21 21 20 Bilateral 2 26 18 22 21 21 20 18 17 34 Concessional 1 18 18 22 21 21 20 18 17 34 Private creditors 4 31 9 1 1 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 4 31 9 1 1 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 18 1 9 28 30 57 23 9 1 IDA 0 0 1 3 0 0 0 0 0 0 NET TRANSFERS ON DEBT 24 845 -922 -312 -109 -173 -205 -165 -158 -220 Public and publicly guaranteed 24 845 -922 -312 -109 -173 -205 -165 -158 -220 Official creditors -2 834 -904 -306 -104 -167 -201 -164 -157 -215 Multilateral 3 40 -9 -296 -76 -112 -140 -98 -88 -77 Concessional 3 0 -5 -3 -9 -40 -55 -63 -68 -64 Bilateral -5 794 -895 -10 -27 -55 -61 -65 -68 -138 Concessional -1 851 -895 -10 -27 -55 -61 -65 -68 -138 Private creditors 26 11 -18 -7 -5 -5 -4 -2 -2 -4 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 -5 -5 -4 -2 -2 -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 0 39 -2 -271 -50 -51 -72 -31 -15 -8 IDA 3 1 -2 -13 -2 -2 -2 -2 -2 -2 DEBT SERVICE (LTDS) 36 302 1,107 416 172 206 223 165 158 220 Public and publicly guaranteed 36 302 1,107 416 172 206 223 165 158 220 Official creditors 11 138 1,061 409 166 201 219 164 157 215 Multilateral 0 24 39 350 111 132 152 98 88 77 Concessional 0 2 13 58 44 61 67 63 68 64 Bilateral 11 114 1,023 59 55 69 67 65 68 138 Concessional 6 49 1,023 59 55 69 67 65 68 138 Private creditors 25 165 46 7 6 5 4 2 2 4 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 6 5 4 2 2 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 0 21 2 271 50 51 72 31 15 8 IDA 0 0 2 13 2 2 2 2 2 2 UNDISBURSED DEBT 110 1,975 922 578 545 56 33 0 0 0 Official creditors 11 1,392 716 531 512 49 29 0 0 0 Private creditors 99 583 206 46 33 6 4 0 0 0 Memorandum items Concessional LDOD 39 1,838 13,134 15,017 15,088 14,976 14,813 14,713 14,735 14,717 Variable rate LDOD 0 0 0 0 0 0 0 0 0 0 Public sector LDOD 231 2,916 15,107 16,326 16,352 16,142 15,929 15,809 15,848 15,847 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 3.0 Deutsche mark 1.7 1.5 2.1 2.0 2.1 1.8 1.7 .. .. .. French franc 7.0 3.6 0.8 0.6 0.7 0.6 0.6 .. .. .. Japanese yen 0.0 0.3 1.8 2.8 3.1 3.5 3.1 2.7 2.9 3.0 Pound sterling 4.0 0.2 0.6 0.8 0.7 0.7 0.6 0.6 0.7 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 84.5 84.3 85.0 86.1 86.7 86.5 86.4 Multiple currency 0.0 8.0 3.3 0.6 0.5 0.4 0.3 0.2 0.2 0.1 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 51.7 15.6 5.3 8.7 8.6 8.1 7.7 7.6 7.2 6.7 507 SYRIAN ARAB REPUBLIC (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 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 -547 1,522 -91 -712 -317 125 100 Net flows on debt 33 1,239 -672 -514 1,286 -120 -708 -421 -109 -165 Net change in interest arrears .. .. 247 154 179 146 106 124 86 101 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 -264 98 -27 -112 -98 149 167 Residual .. .. -73 77 -42 -90 3 79 0 -3 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 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 901 880 869 126 117 110 108 102 91 78 Interest 93 72 52 32 27 23 19 14 11 7 Official creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 897 877 869 125 116 110 108 102 91 78 Interest 93 72 52 32 27 23 19 14 11 7 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 844 836 830 90 81 74 72 68 58 49 Interest 75 56 38 20 17 14 11 9 6 4 Multilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 53 42 38 36 36 36 36 34 34 29 Interest 18 16 14 12 10 9 7 6 4 3 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4 3 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 4 3 1 0 0 0 0 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 508 TAJIKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,065 1,243 1,275 1,034 1,058 1,142 1,166 Long-term debt (LDOD) .. .. .. 961 997 1,072 846 869 988 985 Public and publicly guaranteed .. .. .. 669 703 741 755 762 901 926 Private nonguaranteed .. .. .. 292 294 331 91 107 87 59 Use of IMF credit .. .. .. 30 99 100 111 110 94 100 Short-term debt .. .. .. 74 147 102 77 79 60 82 of which interest arrears on LDOD .. .. .. 37 35 41 45 27 9 3 Official creditors .. .. .. 15 16 21 23 27 3 1 Private creditors .. .. .. 22 20 20 22 0 6 2 Memo: principal arrears on LDOD .. .. .. 100 95 122 121 77 87 60 Official creditors .. .. .. 32 35 66 70 77 58 56 Private creditors .. .. .. 68 60 55 51 0 30 4 Memo: export credits .. .. .. 0 0 11 3 27 25 26 TOTAL DEBT FLOWS Disbursements .. .. .. 52 131 132 62 115 34 52 Long-term debt .. .. .. 42 66 122 37 100 24 41 IMF purchases .. .. .. 10 65 9 25 15 10 11 Principal repayments .. .. .. 29 61 53 37 58 79 73 Long-term debt .. .. .. 29 61 48 28 46 45 57 IMF repurchases .. .. .. 0 0 5 10 12 34 15 Net flows on debt .. .. .. 52 145 27 -4 77 -46 8 of which short-term debt .. .. .. 29 75 -51 -29 20 -1 28 Interest payments (INT) .. .. .. 19 31 26 25 23 17 16 Long-term debt .. .. .. 17 28 20 21 20 15 15 IMF charges .. .. .. 1 2 2 2 1 1 0 Short-term debt .. .. .. 1 1 4 2 2 1 1 Net transfers on debt .. .. .. 34 114 1 -30 54 -63 -8 Total debt service paid (TDS) .. .. .. 48 92 79 63 81 96 88 Long-term debt .. .. .. 45 89 68 49 66 60 72 IMF repurchases and charges .. .. .. 1 2 7 12 13 35 16 Short-term debt (interest only) .. .. .. 1 1 4 2 2 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 86 87 150 83 153 120 94 Net flow of long-term debt (ex. IMF) .. .. .. 13 5 74 9 54 -21 -16 Foreign direct investment (net) .. .. .. 18 25 21 24 9 36 32 Portfolio equity flows .. .. .. 0 0 0 0 0 2 0 Grants (excluding technical coop.) .. .. .. 55 58 55 50 89 104 78 Memo: technical coop. grants .. .. .. 9 10 10 15 19 52 38 official net resource flows .. .. .. 69 70 96 70 126 103 88 private net resource flows .. .. .. 18 18 54 13 26 17 6 NET TRANSFERS .. .. .. 68 56 129 61 132 105 79 Interest on long-term debt .. .. .. 17 28 20 21 20 15 15 Profit remittances on FDI .. .. .. 2 3 1 1 0 0 1 Memo: official net transfers .. .. .. 64 55 94 66 121 96 77 private net transfers .. .. .. 4 2 35 -5 12 9 1 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 879 1,264 1,031 934 1,012 1,177 1,463 Exports of goods, serv. & inc. (XGS) .. .. .. 773 646 698 804 703 848 969 Worker remit. & comp. of employees .. .. .. 0 0 0 0 0 79 146 Imports of goods & services (MGS) .. .. .. 874 823 769 903 860 986 1,122 International reserves (RES) .. .. .. 39 56 57 94 94 90 118 Current account balance .. .. .. -61 -120 -36 -63 -74 -32 -41 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 137.8 192.5 182.6 128.6 150.6 134.7 120.3 EDT / GNI (%) .. .. .. 121.2 98.4 123.6 110.7 104.6 97.0 79.7 TDS / XGS (%) .. .. .. 6.2 14.2 11.3 7.8 11.5 11.3 9.1 INT / XGS (%) .. .. .. 2.4 4.8 3.7 3.2 3.2 2.0 1.6 INT / GNI (%) .. .. .. 2.1 2.4 2.5 2.7 2.2 1.4 1.1 RES / EDT (%) .. .. .. 3.6 4.5 4.5 9.1 8.9 7.8 10.1 RES / MGS (months) .. .. .. 0.5 0.8 0.9 1.3 1.3 1.1 1.3 Short-term / EDT (%) .. .. .. 6.9 11.8 8.0 7.5 7.5 5.3 7.0 Concessional / EDT (%) .. .. .. 52.4 49.8 52.0 65.3 70.6 68.7 73.6 Multilateral / EDT (%) .. .. .. 4.7 8.4 12.3 18.0 25.0 26.8 31.4 509 TAJIKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 961 997 1,072 846 869 988 985 Public and publicly guaranteed .. .. .. 669 703 741 755 762 901 926 Official creditors .. .. .. 601 643 686 704 762 851 917 Multilateral .. .. .. 50 104 157 186 264 306 366 Concessional .. .. .. 50 104 157 185 263 303 364 Bilateral .. .. .. 551 539 529 518 497 545 550 Concessional .. .. .. 508 515 505 490 485 481 495 Private creditors .. .. .. 68 60 55 51 0 50 9 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 68 60 55 51 0 39 0 Other private .. .. .. 0 0 0 0 0 11 9 Private nonguaranteed .. .. .. 292 294 331 91 107 87 59 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 292 294 331 91 107 87 59 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 50 92 126 143 172 195 228 DISBURSEMENTS .. .. .. 42 66 122 37 100 24 41 Public and publicly guaranteed .. .. .. 42 52 55 36 52 24 41 Official creditors .. .. .. 42 52 55 36 52 24 41 Multilateral .. .. .. 22 50 55 36 41 24 38 Concessional .. .. .. 22 50 55 35 39 24 37 Bilateral .. .. .. 20 2 0 0 11 0 3 Concessional .. .. .. 9 2 0 0 1 0 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 14 67 1 48 0 0 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 14 67 1 48 0 0 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 22 38 36 23 35 10 13 PRINCIPAL REPAYMENTS .. .. .. 29 61 48 28 46 45 57 Public and publicly guaranteed .. .. .. 29 48 18 15 15 24 34 Official creditors .. .. .. 29 40 14 15 15 24 31 Multilateral .. .. .. 0 0 0 0 8 8 10 Concessional .. .. .. 0 0 0 0 7 8 10 Bilateral .. .. .. 29 40 14 15 8 17 21 Concessional .. .. .. 29 40 14 15 8 17 16 Private creditors .. .. .. 0 8 4 0 0 0 2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 8 4 0 0 0 0 Other private .. .. .. 0 0 0 0 0 0 2 Private nonguaranteed .. .. .. 0 13 30 12 31 20 24 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 13 30 12 31 20 24 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 13 5 74 9 54 -21 -16 Public and publicly guaranteed .. .. .. 13 4 37 20 37 0 7 Official creditors .. .. .. 13 12 41 20 37 0 10 Multilateral .. .. .. 22 50 55 36 33 16 27 Concessional .. .. .. 22 50 55 35 32 16 27 Bilateral .. .. .. -9 -38 -14 -15 4 -17 -18 Concessional .. .. .. -20 -38 -14 -15 -6 -17 -12 Private creditors .. .. .. 0 -8 -4 0 0 0 -2 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 -8 -4 0 0 0 0 Other private .. .. .. 0 0 0 0 0 0 -2 Private nonguaranteed .. .. .. 0 1 37 -11 17 -20 -24 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 0 1 37 -11 17 -20 -24 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 22 38 36 23 35 10 13 510 TAJIKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 17 28 20 21 20 15 15 Public and publicly guaranteed .. .. .. 5 15 3 7 17 10 11 Official creditors .. .. .. 5 15 2 4 6 7 10 Multilateral .. .. .. 0 0 1 1 3 4 4 Concessional .. .. .. 0 0 1 1 3 4 4 Bilateral .. .. .. 5 14 2 3 2 3 7 Concessional .. .. .. 5 14 2 3 1 3 4 Private creditors .. .. .. 0 0 1 4 11 3 1 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 0 1 4 11 2 0 Other private .. .. .. 0 0 0 0 0 1 1 Private nonguaranteed .. .. .. 12 13 17 14 3 5 4 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 12 13 17 14 3 5 4 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 1 1 1 1 2 NET TRANSFERS ON DEBT .. .. .. -3 -23 54 -12 34 -36 -31 Public and publicly guaranteed .. .. .. 9 -11 34 13 20 -10 -4 Official creditors .. .. .. 9 -3 39 16 31 -7 -1 Multilateral .. .. .. 22 49 54 34 30 12 24 Concessional .. .. .. 22 49 54 34 29 12 24 Bilateral .. .. .. -13 -52 -15 -18 1 -20 -25 Concessional .. .. .. -25 -52 -15 -18 -8 -19 -17 Private creditors .. .. .. 0 -8 -5 -4 -11 -3 -3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 -8 -5 -4 -11 -2 0 Other private .. .. .. 0 0 0 0 0 -1 -3 Private nonguaranteed .. .. .. -12 -12 20 -25 14 -26 -27 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. -12 -12 20 -25 14 -26 -27 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 22 37 35 22 34 8 12 DEBT SERVICE (LTDS) .. .. .. 45 89 68 49 66 60 72 Public and publicly guaranteed .. .. .. 33 63 21 23 32 34 45 Official creditors .. .. .. 33 55 16 19 21 31 42 Multilateral .. .. .. 0 0 1 1 11 11 14 Concessional .. .. .. 0 0 1 1 10 11 14 Bilateral .. .. .. 33 55 15 18 10 20 28 Concessional .. .. .. 33 54 15 18 9 19 20 Private creditors .. .. .. 0 8 5 4 11 3 3 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 0 8 5 4 11 2 0 Other private .. .. .. 0 0 0 0 0 1 3 Private nonguaranteed .. .. .. 12 26 47 26 34 26 27 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 12 26 47 26 34 26 27 Memo: IBRD .. .. .. 0 0 0 0 0 0 0 IDA .. .. .. 0 0 1 1 1 1 2 UNDISBURSED DEBT .. .. .. 33 85 126 138 256 302 344 Official creditors .. .. .. 33 65 106 118 236 302 344 Private creditors .. .. .. 0 20 20 20 20 0 0 Memorandum items Concessional LDOD .. .. .. 558 619 663 675 747 785 859 Variable rate LDOD .. .. .. 385 359 392 147 164 163 140 Public sector LDOD .. .. .. 669 703 741 755 762 894 918 Private sector LDOD .. .. .. 292 294 331 91 107 94 66 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 6.0 6.0 5.9 Deutsche mark .. .. .. 0.0 0.0 0.0 0.0 .. .. .. French franc .. .. .. 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 99.0 97.8 97.9 91.8 91.4 91.3 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 1.0 2.2 2.1 2.2 2.5 2.9 511 TAJIKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 19 197 7 0 67 0 25 Debt stock rescheduled .. .. .. 18 151 0 0 62 0 4 Principal rescheduled .. .. .. 0 20 0 0 56 0 0 Official .. .. .. 0 20 0 0 13 0 0 Private .. .. .. 0 0 0 0 43 0 0 Interest rescheduled .. .. .. 0 6 0 0 11 0 0 Official .. .. .. 0 6 0 0 0 0 0 Private .. .. .. 0 0 0 0 11 0 0 Debt forgiven .. .. .. 0 0 0 2 18 0 0 Memo: interest forgiven .. .. .. 0 0 0 0 2 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 .. .. .. 366 178 32 -241 25 83 24 Net flows on debt .. .. .. 52 145 27 -4 77 -46 8 Net change in interest arrears .. .. .. 24 -1 6 4 -18 -18 -6 Interest capitalized .. .. .. 0 6 0 0 11 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 -2 -18 0 0 Cross-currency valuation .. .. .. -3 -14 -4 -12 -12 34 44 Residual .. .. .. 293 43 3 -227 -16 113 -21 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 0.5 1.7 1.0 3.8 1.5 1.1 2.0 Maturity (years) .. .. .. 37.9 29.2 35.2 26.4 30.6 34.2 28.0 Grace period (years) .. .. .. 9.9 7.8 9.2 6.7 8.0 9.0 7.0 Grant element (%) .. .. .. 81.5 64.2 75.2 48.0 67.4 73.5 61.5 Official creditors Interest (%) .. .. .. 0.5 0.6 1.0 3.8 1.5 1.1 2.0 Maturity (years) .. .. .. 37.9 35.8 35.2 26.4 30.6 34.2 28.0 Grace period (years) .. .. .. 9.9 9.4 9.2 6.7 8.0 9.0 7.0 Grant element (%) .. .. .. 81.5 78.4 75.2 48.0 67.4 73.5 61.5 Private creditors Interest (%) .. .. .. 0.0 6.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. .. 0.0 2.2 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 5.8 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. .. 25 102 98 53 175 68 96 Official creditors .. .. .. 25 82 98 53 175 68 96 Private creditors .. .. .. 0 20 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 93 71 58 44 32 18 11 7 6 2 Principal 41 60 59 58 61 63 64 63 64 65 Interest 21 20 19 18 17 16 14 13 12 10 Official creditors Disbursements 93 71 58 44 32 18 11 7 6 2 Principal 26 45 49 52 54 59 60 60 63 64 Interest 18 18 18 17 16 15 14 13 12 10 Bilateral creditors Disbursements 13 12 7 3 2 1 0 0 0 0 Principal 21 43 46 46 45 45 45 42 30 30 Interest 13 13 12 11 10 9 7 6 5 4 Multilateral creditors Disbursements 81 59 51 40 30 18 11 7 6 2 Principal 5 2 4 6 10 14 16 18 33 33 Interest 4 5 6 6 6 6 7 7 7 6 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 16 15 9 6 7 4 3 3 1 1 Interest 3 2 2 1 1 1 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 16 15 9 6 7 4 3 3 1 1 Interest 3 2 2 1 1 1 0 0 0 0 512 TANZANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 212 5,323 6,454 7,200 7,670 8,081 7,184 6,768 7,339 7,516 Long-term debt (LDOD) 188 3,381 5,794 6,106 6,485 6,748 6,017 5,815 6,229 6,248 Public and publicly guaranteed 173 3,297 5,782 6,065 6,449 6,716 5,989 5,791 6,210 6,233 Private nonguaranteed 15 84 12 41 37 32 28 24 20 16 Use of IMF credit 0 171 140 246 268 312 324 341 400 437 Short-term debt 24 1,771 520 848 917 1,020 844 612 710 831 of which interest arrears on LDOD 0 1,468 404 709 769 862 642 492 549 674 Official creditors 0 1,464 280 539 585 696 468 451 499 610 Private creditors 0 3 124 170 184 167 174 41 50 64 Memo: principal arrears on LDOD 0 593 824 1,112 1,095 1,230 695 563 611 663 Official creditors 0 586 628 914 913 1,052 531 495 550 599 Private creditors 0 7 196 198 182 178 164 68 61 65 Memo: export credits 0 0 1,278 1,034 776 559 545 463 244 95 TOTAL DEBT FLOWS Disbursements 56 432 325 336 264 341 261 226 240 545 Long-term debt 56 365 296 251 216 260 208 175 188 520 IMF purchases 0 66 29 85 48 80 53 51 52 25 Principal repayments 4 81 118 121 136 137 108 106 67 52 Long-term debt 4 49 89 90 98 108 98 103 62 44 IMF repurchases 0 33 28 31 38 29 10 2 5 7 Net flows on debt 52 403 223 226 138 213 197 39 214 489 of which short-term debt 0 53 16 12 9 10 44 -82 41 -4 Interest payments (INT) 3 80 62 48 112 82 64 48 43 40 Long-term debt 3 48 47 41 103 73 52 39 35 33 IMF charges 0 7 6 1 1 1 2 2 2 2 Short-term debt 0 26 9 6 7 8 10 6 6 5 Net transfers on debt 49 323 162 179 26 130 134 -9 172 449 Total debt service paid (TDS) 7 161 179 169 248 220 171 153 110 92 Long-term debt 7 96 136 131 201 181 150 143 97 77 IMF repurchases and charges 0 39 34 32 39 31 12 4 7 9 Short-term debt (interest only) 0 26 9 6 7 8 10 6 6 5 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 62 807 884 750 939 1,243 1,304 1,326 1,241 1,652 Net flow of long-term debt (ex. IMF) 52 317 207 161 117 152 111 72 126 476 Foreign direct investment (net) 3 5 0 158 172 517 463 327 240 248 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 6 485 677 431 650 574 730 927 874 929 Memo: technical coop. grants 21 173 208 218 190 149 153 155 181 160 official net resource flows 48 703 879 614 784 743 856 1,020 1,022 1,388 private net resource flows 14 104 5 136 155 500 448 306 219 264 NET TRANSFERS 59 759 837 706 828 1,153 1,238 1,286 1,204 1,617 Interest on long-term debt 3 48 47 41 103 73 52 39 35 33 Profit remittances on FDI 0 0 0 3 8 17 13 1 2 2 Memo: official net transfers 46 669 835 576 684 682 807 983 988 1,356 private net transfers 13 91 1 130 144 471 432 303 215 262 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 4,072 7,562 8,278 8,543 8,959 9,356 9,721 10,244 Exports of goods, serv. & inc. (XGS) .. 762 544 1,254 1,179 1,187 1,341 1,511 1,643 1,784 Worker remit. & comp. of employees 0 0 0 2 12 7 8 10 7 7 Imports of goods & services (MGS) .. 1,412 1,665 2,130 2,490 2,359 2,230 2,390 2,315 2,784 International reserves (RES) 65 20 193 622 599 775 974 1,157 1,529 2,038 Current account balance .. -521 -559 -473 -751 -835 -499 -480 -251 -971 4. DEBT INDICATORS EDT / XGS (%) .. 698.7 1,185.8 574.0 650.3 681.0 535.8 447.9 446.7 421.4 EDT / GNI (%) .. .. 158.5 95.2 92.7 94.6 80.2 72.3 75.5 73.4 TDS / XGS (%) .. 21.2 32.9 13.5 21.0 18.5 12.8 10.1 6.7 5.1 INT / XGS (%) .. 10.5 11.3 3.8 9.5 6.9 4.7 3.1 2.6 2.3 INT / GNI (%) .. .. 1.5 0.6 1.3 1.0 0.7 0.5 0.4 0.4 RES / EDT (%) 30.6 0.4 3.0 8.6 7.8 9.6 13.6 17.1 20.8 27.1 RES / MGS (months) .. 0.2 1.4 3.5 2.9 3.9 5.2 5.8 7.9 8.8 Short-term / EDT (%) 11.3 33.3 8.1 11.8 12.0 12.6 11.7 9.0 9.7 11.1 Concessional / EDT (%) 76.9 50.6 53.5 71.0 72.0 72.5 73.3 77.9 77.8 78.1 Multilateral / EDT (%) 18.1 10.6 30.6 40.6 41.0 40.6 45.5 47.8 48.6 56.7 513 TANZANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 188 3,381 5,794 6,106 6,485 6,748 6,017 5,815 6,229 6,248 Public and publicly guaranteed 173 3,297 5,782 6,065 6,449 6,716 5,989 5,791 6,210 6,233 Official creditors 168 3,040 5,295 5,804 6,198 6,478 5,783 5,701 6,133 6,137 Multilateral 38 564 1,976 2,926 3,144 3,278 3,267 3,233 3,570 4,263 Concessional 35 305 1,619 2,818 3,054 3,204 3,209 3,198 3,542 4,238 Bilateral 129 2,476 3,320 2,878 3,054 3,200 2,516 2,467 2,563 1,874 Concessional 129 2,387 1,832 2,294 2,472 2,656 2,054 2,072 2,164 1,630 Private creditors 6 257 487 261 251 238 206 91 76 96 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 32 83 65 66 77 80 17 17 38 Other private 6 225 405 196 185 162 126 74 59 58 Private nonguaranteed 15 84 12 41 37 32 28 24 20 16 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 15 84 12 41 37 32 28 24 20 16 Memo: IBRD 4 198 243 34 22 16 11 8 6 3 IDA 35 242 1,250 2,306 2,463 2,594 2,593 2,588 2,869 3,474 DISBURSEMENTS 56 365 296 251 216 260 208 175 188 520 Public and publicly guaranteed 49 334 296 251 216 260 208 175 188 520 Official creditors 43 243 279 251 216 253 203 174 188 500 Multilateral 11 122 200 244 187 251 185 147 188 452 Concessional 9 63 187 238 184 249 185 145 188 452 Bilateral 33 122 80 8 28 3 18 27 0 48 Concessional 32 94 50 6 10 3 18 27 0 43 Private creditors 6 91 17 0 0 7 5 1 0 20 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 4 0 0 5 5 0 0 20 Other private 6 82 12 0 0 2 0 1 0 0 Private nonguaranteed 8 31 0 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 31 0 0 0 0 0 0 0 0 Memo: IBRD 1 34 0 0 0 0 0 0 0 0 IDA 9 35 186 183 102 199 142 119 148 397 PRINCIPAL REPAYMENTS 4 49 89 90 98 108 98 103 62 44 Public and publicly guaranteed 2 32 89 86 94 104 94 99 58 41 Official creditors 2 26 77 68 81 84 77 81 40 41 Multilateral 0 8 45 64 64 52 29 44 22 21 Concessional 0 1 13 31 39 40 18 29 14 14 Bilateral 2 18 33 4 17 32 47 37 18 20 Concessional 2 18 24 4 9 24 34 21 9 16 Private creditors 0 6 12 18 13 20 17 18 18 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 1 0 2 1 1 0 7 1 0 Other private 0 6 12 16 12 19 17 11 17 0 Private nonguaranteed 3 16 0 4 4 4 4 4 4 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 16 0 4 4 4 4 4 4 3 Memo: IBRD 0 5 26 20 12 6 4 3 2 3 IDA 0 1 6 15 17 24 9 19 5 9 NET FLOWS ON DEBT 52 317 207 161 117 152 111 72 126 476 Public and publicly guaranteed 47 302 207 165 122 156 115 76 131 478 Official creditors 42 217 202 183 135 169 126 93 148 459 Multilateral 11 114 155 180 124 198 155 104 166 431 Concessional 9 63 174 207 145 209 167 116 173 438 Bilateral 31 103 47 3 11 -29 -29 -10 -18 29 Concessional 30 76 26 2 1 -21 -15 6 -8 28 Private creditors 6 84 5 -18 -13 -13 -12 -17 -17 19 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 4 -1 -1 4 5 -7 -1 20 Other private 6 76 0 -16 -12 -17 -17 -10 -16 0 Private nonguaranteed 5 15 0 -4 -4 -4 -4 -4 -4 -3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 5 15 0 -4 -4 -4 -4 -4 -4 -3 Memo: IBRD 1 29 -26 -20 -12 -6 -4 -3 -2 -3 IDA 9 34 181 167 85 175 133 100 143 387 514 TANZANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 3 48 47 41 103 73 52 39 35 33 Public and publicly guaranteed 2 41 47 39 102 72 51 39 35 32 Official creditors 2 34 44 38 101 61 49 38 34 32 Multilateral 0 18 27 35 36 29 23 24 23 26 Concessional 0 2 9 25 22 25 19 17 22 26 Bilateral 2 16 17 3 65 32 26 13 11 6 Concessional 2 14 11 2 54 26 17 11 4 5 Private creditors 0 7 3 2 1 11 2 1 1 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 6 3 1 1 11 2 1 1 0 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 4 2 2 1 1 1 0 IDA 0 2 8 16 17 19 15 16 17 20 NET TRANSFERS ON DEBT 49 269 160 121 14 79 58 33 91 443 Public and publicly guaranteed 45 261 160 126 20 84 64 38 96 446 Official creditors 40 183 158 145 34 108 77 56 114 427 Multilateral 10 96 128 145 88 170 132 79 143 404 Concessional 9 61 165 182 124 184 147 99 151 412 Bilateral 29 87 30 1 -53 -62 -55 -24 -28 23 Concessional 28 62 15 0 -53 -47 -33 -5 -13 23 Private creditors 6 78 1 -19 -15 -24 -13 -18 -19 19 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 8 4 -2 -1 4 5 -7 -1 20 Other private 6 70 -3 -18 -14 -28 -19 -11 -18 0 Private nonguaranteed 4 9 0 -6 -5 -5 -5 -5 -5 -3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 4 9 0 -6 -5 -5 -5 -5 -5 -3 Memo: IBRD 1 14 -43 -24 -14 -8 -6 -4 -3 -3 IDA 9 33 172 151 68 156 119 84 126 367 DEBT SERVICE (LTDS) 7 96 136 131 201 181 150 143 97 77 Public and publicly guaranteed 4 73 136 125 196 176 145 138 93 74 Official creditors 4 60 121 106 182 145 126 119 74 73 Multilateral 0 26 72 99 100 81 53 68 45 47 Concessional 0 2 21 56 61 65 37 46 36 39 Bilateral 3 34 49 7 82 64 73 51 29 26 Concessional 3 32 34 6 63 50 51 32 13 21 Private creditors 0 13 15 19 15 31 19 19 19 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 2 0 2 1 1 0 7 1 0 Other private 0 12 15 18 14 30 19 12 18 0 Private nonguaranteed 3 23 0 6 5 5 5 5 5 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 23 0 6 5 5 5 5 5 3 Memo: IBRD 0 20 43 24 14 8 6 4 3 3 IDA 0 2 14 32 33 43 23 35 22 29 UNDISBURSED DEBT 315 1,159 1,169 1,157 1,105 916 995 1,255 1,303 1,153 Official creditors 311 1,082 1,164 1,145 1,094 882 950 1,217 1,264 1,119 Private creditors 4 77 5 12 11 33 45 39 39 33 Memorandum items Concessional LDOD 163 2,692 3,451 5,112 5,525 5,860 5,263 5,270 5,706 5,869 Variable rate LDOD 15 89 467 338 313 307 273 186 186 50 Public sector LDOD 173 3,269 5,725 5,985 6,371 6,650 5,936 5,755 6,181 6,231 Private sector LDOD 15 112 70 121 114 99 80 60 48 17 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 5.4 5.5 1.8 Deutsche mark 3.2 1.3 3.9 1.9 1.9 1.5 1.4 .. .. .. French franc 0.0 2.0 3.9 2.0 1.9 1.6 1.5 .. .. .. Japanese yen 0.0 49.7 8.5 10.1 11.7 14.1 7.8 11.4 10.9 11.5 Pound sterling 10.9 4.1 11.7 9.8 9.2 8.8 8.7 8.2 7.7 5.4 Swiss franc 0.0 0.3 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars 28.3 13.3 35.7 45.5 45.3 45.5 51.2 49.3 50.4 54.3 Multiple currency 2.1 6.5 6.0 6.7 6.7 6.5 12.9 13.4 13.4 13.7 Special drawing rights 0.0 0.1 1.3 4.9 5.0 4.7 5.1 5.1 5.1 5.5 All other currencies 55.5 22.6 28.4 19.1 18.2 17.3 11.4 7.2 7.1 7.8 515 TANZANIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 183 761 152 68 432 35 72 38 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 59 422 30 2 252 14 14 4 Official .. .. 35 328 30 2 245 14 14 4 Private .. .. 24 94 0 0 7 0 0 0 Interest rescheduled .. .. 96 229 13 2 97 12 9 0 Official .. .. 91 207 13 2 97 12 9 0 Private .. .. 5 21 0 0 0 0 0 0 Debt forgiven .. .. 102 243 71 26 385 217 91 91 Memo: interest forgiven .. .. 10 75 0 0 204 191 40 3 Debt stock reduction .. .. 0 11 0 0 3 69 0 663 of which debt buyback .. .. 0 0 0 0 0 7 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 601 -187 471 411 -897 -416 571 177 Net flows on debt 52 403 223 226 138 213 197 39 214 489 Net change in interest arrears .. .. 61 -195 60 93 -220 -150 57 125 Interest capitalized .. .. 96 229 13 2 97 12 9 0 Debt forgiveness or reduction .. .. -102 -254 -71 -26 -388 -278 -91 -754 Cross-currency valuation .. .. 118 -509 -79 -74 -310 -210 335 429 Residual .. .. 204 317 409 203 -273 171 45 -111 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 1.4 4.1 1.1 1.0 1.5 1.6 0.9 0.7 0.6 0.8 Maturity (years) 41.0 22.8 34.9 41.5 36.2 34.9 38.2 40.8 33.6 40.6 Grace period (years) 22.5 7.5 9.3 9.8 8.2 9.6 9.8 10.0 7.9 10.3 Grant element (%) 81.0 42.8 72.5 78.2 66.9 69.3 78.2 80.1 72.6 79.9 Official creditors Interest (%) 1.4 3.7 1.1 0.9 1.3 1.1 0.8 0.7 0.6 0.8 Maturity (years) 41.0 24.1 35.3 42.3 37.2 39.5 39.0 40.8 33.6 41.2 Grace period (years) 22.5 8.1 9.4 10.0 8.4 10.2 10.1 10.0 7.9 10.3 Grant element (%) 81.0 46.7 72.9 79.6 68.9 76.8 79.6 80.1 72.7 81.0 Private creditors Interest (%) 0.0 7.5 2.5 5.0 6.5 4.5 2.5 0.0 6.0 3.0 Maturity (years) 0.0 11.7 13.3 3.0 3.9 9.1 23.8 0.0 3.3 26.8 Grace period (years) 0.0 3.2 6.8 1.0 2.2 6.1 4.3 0.0 1.0 9.3 Grant element (%) 0.0 10.4 47.7 8.6 8.2 27.6 51.7 0.0 6.9 55.2 Memorandum items Commitments 271 737 697 269 141 195 391 495 230 279 Official creditors 271 658 686 264 137 165 371 495 229 268 Private creditors 0 79 12 6 5 29 20 0 0 12 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 323 240 188 141 101 66 44 22 12 7 Principal 139 146 151 157 164 161 165 174 187 189 Interest 89 90 89 88 86 84 82 80 78 76 Official creditors Disbursements 305 230 184 140 101 66 44 22 12 7 Principal 134 137 139 145 152 158 163 173 186 187 Interest 87 88 87 86 85 83 82 80 78 76 Bilateral creditors Disbursements 22 26 18 12 8 5 2 0 0 0 Principal 46 48 48 48 48 48 39 33 34 26 Interest 51 51 50 49 48 47 46 45 44 43 Multilateral creditors Disbursements 283 203 166 128 94 62 42 22 12 7 Principal 88 89 90 97 105 111 124 140 152 160 Interest 36 37 37 37 37 36 36 35 34 32 Private creditors Disbursements 18 10 4 2 0 0 0 0 0 0 Principal 4 8 12 12 11 3 2 1 1 2 Interest 2 2 2 2 1 1 1 1 1 1 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 0 4 8 8 8 0 0 0 0 0 Interest 1 1 1 1 0 0 0 0 0 0 Other private Disbursements 18 10 4 2 0 0 0 0 0 0 Principal 4 4 4 3 3 3 2 1 1 2 Interest 1 1 1 1 1 1 1 1 1 1 516 THAILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1,001 8,297 28,094 109,699 104,917 96,770 79,710 67,181 59,459 51,793 Long-term debt (LDOD) 726 5,646 19,771 69,434 72,019 69,920 61,768 52,277 47,149 40,889 Public and publicly guaranteed 324 3,943 12,460 22,292 28,088 31,306 29,453 26,208 22,612 17,763 Private nonguaranteed 402 1,703 7,311 47,142 43,931 38,615 32,316 26,069 24,537 23,125 Use of IMF credit 0 348 1 2,429 3,238 3,431 3,062 1,681 391 0 Short-term debt 275 2,303 8,322 37,836 29,660 23,418 14,880 13,223 11,919 10,904 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 12,211 6,551 6,034 4,464 3,512 3,475 2,703 TOTAL DEBT FLOWS Disbursements 220 2,648 4,569 14,757 8,134 6,304 4,021 8,649 8,608 6,338 Long-term debt 220 2,604 4,569 12,280 7,456 6,030 4,021 8,649 8,608 6,338 IMF purchases 0 45 0 2,477 678 273 0 0 0 0 Principal repayments 131 804 3,264 6,177 7,811 9,438 9,142 17,009 17,171 12,961 Long-term debt 131 782 2,983 6,177 7,811 9,438 8,945 15,720 15,811 12,558 IMF repurchases 0 22 281 0 0 0 198 1,289 1,360 402 Net flows on debt 90 1,808 3,515 -1,300 -7,852 -9,376 -13,659 -10,016 -9,867 -7,638 of which short-term debt 0 -37 2,210 -9,879 -8,176 -6,242 -8,538 -1,657 -1,304 -1,015 Interest payments (INT) 33 814 2,026 5,633 4,942 6,792 4,849 3,303 2,549 2,109 Long-term debt 33 473 1,355 3,468 3,755 5,649 3,776 2,617 2,094 1,721 IMF charges 0 13 21 14 121 129 168 124 37 5 Short-term debt 0 328 650 2,150 1,066 1,014 905 562 419 382 Net transfers on debt 57 994 1,489 -6,933 -12,794 -16,168 -18,508 -13,319 -12,416 -9,747 Total debt service paid (TDS) 163 1,617 5,290 11,810 12,752 16,230 13,991 20,312 19,720 15,069 Long-term debt 163 1,254 4,338 9,645 11,565 15,087 12,721 18,337 17,905 14,280 IMF repurchases and charges 0 35 302 14 121 129 366 1,413 1,396 408 Short-term debt (interest only) 0 328 650 2,150 1,066 1,014 905 562 419 382 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 139 2,087 4,662 13,953 7,331 3,706 -619 -2,782 -5,661 -3,027 Net flow of long-term debt (ex. IMF) 90 1,822 1,586 6,102 -355 -3,408 -4,923 -7,070 -7,203 -6,221 Foreign direct investment (net) 43 190 2,444 3,895 7,315 6,103 3,366 3,892 953 1,949 Portfolio equity flows 0 0 440 3,868 289 945 901 352 539 1,194 Grants (excluding technical coop.) 6 75 193 88 81 67 38 44 51 50 Memo: technical coop. grants 49 103 230 218 200 192 197 168 178 170 official net resource flows 27 623 292 6,017 1,177 2,329 528 -135 -4,052 -4,183 private net resource flows 111 1,464 4,370 7,935 6,154 1,377 -1,147 -2,647 -1,609 1,155 NET TRANSFERS 106 1,576 2,996 8,857 2,139 -3,489 -5,910 -7,228 -10,058 -7,692 Interest on long-term debt 33 473 1,355 3,468 3,755 5,649 3,776 2,617 2,094 1,721 Profit remittances on FDI 0 38 312 1,628 1,437 1,546 1,515 1,829 2,304 2,944 Memo: official net transfers 13 506 -150 5,577 378 1,239 -480 -1,079 -4,797 -4,792 private net transfers 93 1,070 3,146 3,279 1,761 -4,728 -5,430 -6,149 -5,262 -2,900 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 7,096 32,091 84,272 146,958 107,990 119,002 120,809 113,622 124,707 140,277 Exports of goods, serv. & inc. (XGS) .. 8,575 31,289 76,161 69,232 74,502 85,997 79,940 84,836 96,897 Worker remit. & comp. of employees 0 383 973 1,658 1,424 1,460 1,697 1,252 1,380 1,601 Imports of goods & services (MGS) .. 10,861 38,783 79,661 55,404 62,427 77,269 74,349 78,425 89,885 International reserves (RES) 911 3,026 14,258 26,897 29,537 34,781 32,665 33,041 38,903 42,162 Current account balance .. -2,076 -7,281 -3,021 14,243 12,428 9,313 6,192 7,014 7,953 4. DEBT INDICATORS EDT / XGS (%) .. 96.8 89.8 144.0 151.5 129.9 92.7 84.0 70.1 53.5 EDT / GNI (%) 14.1 25.9 33.3 74.6 97.2 81.3 66.0 59.1 47.7 36.9 TDS / XGS (%) .. 18.9 16.9 15.5 18.4 21.8 16.3 25.4 23.2 15.6 INT / XGS (%) .. 9.5 6.5 7.4 7.1 9.1 5.6 4.1 3.0 2.2 INT / GNI (%) 0.5 2.5 2.4 3.8 4.6 5.7 4.0 2.9 2.0 1.5 RES / EDT (%) 91.1 36.5 50.8 24.5 28.2 35.9 41.0 49.2 65.4 81.4 RES / MGS (months) .. 3.3 4.4 4.1 6.4 6.7 5.1 5.3 6.0 5.6 Short-term / EDT (%) 27.5 27.8 29.6 34.5 28.3 24.2 18.7 19.7 20.0 21.1 Concessional / EDT (%) 9.3 10.0 15.2 6.0 7.2 9.8 11.5 13.0 16.7 18.7 Multilateral / EDT (%) 16.4 12.0 13.2 3.3 4.4 5.6 6.7 8.1 5.8 5.8 517 THAILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 726 5,646 19,771 69,434 72,019 69,920 61,768 52,277 47,149 40,889 Public and publicly guaranteed 324 3,943 12,460 22,292 28,088 31,306 29,453 26,208 22,612 17,763 Official creditors 291 2,168 8,283 15,418 18,200 21,848 20,820 19,083 16,329 13,176 Multilateral 164 992 3,716 3,590 4,602 5,427 5,330 5,434 3,452 3,020 Concessional 0 42 247 255 246 232 212 194 185 181 Bilateral 127 1,175 4,567 11,828 13,598 16,422 15,489 13,649 12,878 10,156 Concessional 93 787 4,034 6,330 7,325 9,240 8,980 8,537 9,737 9,494 Private creditors 33 1,776 4,177 6,874 9,887 9,457 8,633 7,125 6,283 4,587 Bonds 0 148 738 2,766 3,035 2,840 2,630 2,399 2,142 2,008 Commercial banks 3 1,339 2,126 3,336 6,067 5,955 5,116 3,956 3,720 2,181 Other private 30 289 1,313 772 785 663 887 770 420 398 Private nonguaranteed 402 1,703 7,311 47,142 43,931 38,615 32,316 26,069 24,537 23,125 Bonds 0 0 40 11,411 10,627 9,501 8,414 6,972 6,263 4,639 Commercial banks and other 402 1,703 7,272 35,731 33,304 29,113 23,901 19,097 18,274 18,486 Memo: IBRD 159 671 2,421 1,728 2,111 2,723 2,940 2,998 2,346 2,098 IDA 0 32 109 98 96 93 90 86 83 79 DISBURSEMENTS 220 2,604 4,569 12,280 7,456 6,030 4,021 8,649 8,608 6,338 Public and publicly guaranteed 51 1,315 1,277 8,080 4,956 4,030 3,021 2,312 1,756 1,304 Official creditors 38 621 886 6,576 1,824 3,128 2,156 1,953 1,233 814 Multilateral 21 235 263 1,062 1,142 1,119 751 504 180 73 Concessional 0 7 2 0 0 0 0 0 0 0 Bilateral 18 386 624 5,514 681 2,009 1,405 1,448 1,053 742 Concessional 11 179 504 664 674 1,304 1,399 1,437 1,050 742 Private creditors 13 694 391 1,504 3,132 902 865 359 523 490 Bonds 0 44 0 1,055 300 0 0 288 0 0 Commercial banks 0 606 110 407 2,812 895 455 2 519 490 Other private 13 44 280 42 20 8 410 69 4 0 Private nonguaranteed 169 1,288 3,292 4,200 2,500 2,000 1,000 6,338 6,851 5,033 Bonds 0 0 0 1,264 0 0 0 0 48 0 Commercial banks and other 169 1,288 3,292 2,936 2,500 2,000 1,000 6,338 6,803 5,033 Memo: IBRD 19 145 174 443 498 806 456 365 104 44 IDA 0 5 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 131 782 2,983 6,177 7,811 9,438 8,945 15,720 15,811 12,558 Public and publicly guaranteed 23 172 2,393 1,151 1,029 2,404 3,010 3,739 6,547 6,459 Official creditors 17 73 788 646 728 866 1,666 2,132 5,335 5,047 Multilateral 9 35 438 263 263 313 753 349 2,231 515 Concessional 0 0 8 11 13 15 14 13 14 12 Bilateral 8 38 349 383 465 553 912 1,783 3,104 4,532 Concessional 4 13 102 282 373 361 623 725 608 1,917 Private creditors 6 98 1,605 505 300 1,538 1,344 1,607 1,212 1,412 Bonds 0 0 87 220 72 233 174 467 300 192 Commercial banks 0 52 1,324 234 141 1,142 1,072 1,024 841 1,158 Other private 6 47 194 51 87 163 98 116 71 61 Private nonguaranteed 107 610 591 5,027 6,782 7,034 5,935 11,981 9,264 6,099 Bonds 0 0 0 373 859 1,125 1,044 1,426 758 1,637 Commercial banks and other 107 610 591 4,653 5,922 5,909 4,890 10,555 8,506 4,463 Memo: IBRD 9 26 207 192 179 180 181 260 800 294 IDA 0 0 1 2 2 3 3 3 3 3 NET FLOWS ON DEBT 90 1,822 1,586 6,102 -355 -3,408 -4,923 -7,070 -7,203 -6,221 Public and publicly guaranteed 28 1,143 -1,115 6,929 3,927 1,626 11 -1,427 -4,791 -5,155 Official creditors 21 548 99 5,929 1,096 2,262 490 -179 -4,102 -4,233 Multilateral 11 200 -176 798 879 805 -3 155 -2,051 -443 Concessional 0 7 -6 -11 -13 -15 -14 -13 -14 -12 Bilateral 10 348 274 5,131 216 1,457 493 -335 -2,051 -3,790 Concessional 6 166 402 382 301 943 776 712 442 -1,176 Private creditors 7 595 -1,214 1,000 2,832 -636 -479 -1,248 -689 -922 Bonds 0 44 -87 835 228 -233 -174 -179 -300 -192 Commercial banks 0 554 -1,213 173 2,671 -247 -617 -1,022 -322 -668 Other private 7 -3 86 -8 -67 -156 312 -46 -67 -61 Private nonguaranteed 62 678 2,701 -827 -4,282 -5,034 -4,935 -5,644 -2,412 -1,066 Bonds 0 0 0 891 -859 -1,125 -1,044 -1,426 -710 -1,637 Commercial banks and other 62 678 2,701 -1,717 -3,422 -3,909 -3,890 -4,217 -1,703 571 Memo: IBRD 10 120 -34 251 319 626 275 106 -696 -250 IDA 0 4 -1 -2 -2 -3 -3 -3 -3 -3 518 THAILAND (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 33 473 1,355 3,468 3,755 5,649 3,776 2,617 2,094 1,721 Public and publicly guaranteed 16 269 874 853 1,254 1,681 1,577 1,403 1,070 860 Official creditors 14 117 442 440 798 1,090 1,008 944 745 610 Multilateral 9 75 284 190 248 324 350 342 344 205 Concessional 0 1 5 5 6 6 6 5 2 2 Bilateral 5 42 158 250 550 766 658 602 401 405 Concessional 3 19 110 197 192 375 252 222 209 230 Private creditors 2 152 432 414 455 591 569 460 325 250 Bonds 0 9 46 160 179 204 193 178 142 121 Commercial banks 0 117 227 217 239 331 353 266 171 118 Other private 1 26 160 37 37 56 22 16 12 10 Private nonguaranteed 17 204 481 2,615 2,501 3,968 2,199 1,214 1,023 861 Bonds 0 0 2 560 587 521 476 399 325 283 Commercial banks and other 17 204 479 2,054 1,914 3,447 1,723 814 698 578 Memo: IBRD 9 53 188 104 122 173 178 189 191 150 IDA 0 0 1 1 1 1 1 1 1 1 NET TRANSFERS ON DEBT 57 1,349 232 2,634 -4,109 -9,057 -8,699 -9,687 -9,297 -7,942 Public and publicly guaranteed 12 875 -1,989 6,076 2,673 -54 -1,566 -2,830 -5,861 -6,015 Official creditors 7 431 -343 5,490 297 1,172 -518 -1,123 -4,847 -4,843 Multilateral 2 125 -460 609 631 482 -353 -187 -2,395 -647 Concessional 0 6 -11 -16 -20 -21 -20 -18 -16 -14 Bilateral 5 306 116 4,881 -334 691 -165 -936 -2,452 -4,196 Concessional 3 147 292 185 109 568 523 490 233 -1,406 Private creditors 5 444 -1,646 586 2,376 -1,227 -1,048 -1,707 -1,014 -1,172 Bonds 0 35 -133 675 48 -437 -367 -357 -442 -314 Commercial banks -1 438 -1,440 -44 2,432 -578 -970 -1,288 -493 -787 Other private 5 -29 -74 -45 -104 -212 290 -62 -79 -72 Private nonguaranteed 45 475 2,221 -3,441 -6,783 -9,003 -7,134 -6,857 -3,436 -1,927 Bonds 0 0 -2 330 -1,446 -1,646 -1,520 -1,826 -1,035 -1,920 Commercial banks and other 45 475 2,223 -3,772 -5,337 -7,356 -5,614 -5,031 -2,401 -7 Memo: IBRD 1 66 -222 147 197 453 97 -84 -887 -401 IDA 0 4 -2 -3 -3 -4 -4 -4 -4 -4 DEBT SERVICE (LTDS) 163 1,254 4,338 9,645 11,565 15,087 12,721 18,337 17,905 14,280 Public and publicly guaranteed 39 441 3,267 2,004 2,283 4,084 4,587 5,142 7,618 7,319 Official creditors 31 190 1,230 1,086 1,527 1,956 2,674 3,076 6,080 5,657 Multilateral 18 111 722 453 511 637 1,104 691 2,575 720 Concessional 0 1 13 16 20 21 20 18 16 14 Bilateral 13 80 507 633 1,015 1,319 1,570 2,385 3,506 4,937 Concessional 8 32 212 479 564 736 875 947 817 2,147 Private creditors 8 250 2,037 918 756 2,129 1,913 2,066 1,537 1,662 Bonds 0 9 133 380 252 437 367 645 442 314 Commercial banks 1 168 1,550 451 380 1,473 1,426 1,290 1,011 1,277 Other private 7 73 354 88 124 219 121 132 84 72 Private nonguaranteed 124 814 1,071 7,641 9,283 11,003 8,134 13,195 10,287 6,960 Bonds 0 0 2 934 1,446 1,646 1,520 1,826 1,083 1,920 Commercial banks and other 124 814 1,070 6,707 7,837 9,356 6,614 11,369 9,204 5,040 Memo: IBRD 18 79 396 296 301 353 360 449 991 445 IDA 0 1 2 3 3 4 4 4 4 4 UNDISBURSED DEBT 156 3,015 3,631 7,701 9,458 10,123 7,625 5,717 4,003 2,594 Official creditors 145 2,650 2,936 5,672 7,377 8,981 6,998 4,866 3,527 2,143 Private creditors 11 364 694 2,029 2,082 1,142 627 851 476 451 Memorandum items Concessional LDOD 93 829 4,281 6,585 7,571 9,472 9,193 8,731 9,923 9,675 Variable rate LDOD 402 2,903 10,204 51,251 52,787 48,992 42,103 34,947 31,249 28,397 Public sector LDOD 312 3,943 12,460 22,292 28,088 31,306 29,453 26,208 22,612 17,763 Private sector LDOD 414 1,703 7,311 47,142 43,931 38,615 32,316 26,069 24,537 23,125 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 1.6 1.7 2.2 Deutsche mark 17.6 4.7 3.6 1.4 1.3 1.1 1.0 .. .. .. French franc 0.0 1.8 1.0 0.8 0.6 0.4 0.4 .. .. .. Japanese yen 6.0 25.3 42.7 38.7 40.0 45.9 46.3 44.6 56.7 61.8 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 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars 21.6 41.0 15.8 47.0 49.1 44.5 46.3 48.1 38.3 32.7 Multiple currency 50.7 24.3 28.2 10.8 8.0 7.3 5.4 5.3 2.9 2.9 Special drawing rights 0.0 0.0 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.0 All other currencies 1.7 2.6 2.3 1.1 0.8 0.6 0.6 0.3 0.3 0.3 519 THAILAND (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 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 6 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 .. .. 4,606 -3,139 -4,782 -8,147 -17,060 -12,529 -7,722 -7,666 Net flows on debt 90 1,808 3,515 -1,300 -7,852 -9,376 -13,659 -10,016 -9,867 -7,638 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 -6 0 0 0 0 0 Cross-currency valuation .. .. 1,024 -1,163 1,301 1,283 -1,966 -1,917 1,482 1,672 Residual .. .. 66 -676 1,775 -54 -1,435 -596 664 -1,701 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 6.8 9.6 4.8 6.0 5.0 3.5 1.5 2.1 2.2 2.0 Maturity (years) 19.2 16.8 22.2 12.4 12.7 18.5 29.0 7.3 24.9 6.6 Grace period (years) 4.4 5.3 7.2 5.9 3.8 5.1 6.9 2.3 4.6 3.6 Grant element (%) 19.6 6.4 38.3 22.1 24.8 39.9 59.9 28.9 45.3 27.5 Official creditors Interest (%) 6.8 7.1 4.4 5.9 3.9 3.9 1.5 2.4 2.2 3.0 Maturity (years) 19.6 21.4 25.6 12.7 17.9 20.7 38.1 8.9 36.3 17.4 Grace period (years) 4.4 6.0 7.8 5.6 5.1 5.4 8.2 1.5 6.9 5.7 Grant element (%) 19.7 20.5 43.3 22.8 36.6 40.5 71.1 30.8 63.5 44.7 Private creditors Interest (%) 6.0 13.8 5.8 6.6 6.3 1.9 1.6 1.8 2.3 1.8 Maturity (years) 11.5 8.7 14.9 10.9 6.8 8.8 7.3 5.9 4.3 4.7 Grace period (years) 3.0 4.1 5.9 6.9 2.2 4.0 3.6 3.0 0.3 3.2 Grant element (%) 18.6 -18.3 27.7 18.5 11.7 37.4 32.7 27.2 12.5 24.6 Memorandum items Commitments 106 1,869 1,755 8,941 7,085 5,453 1,327 1,177 561 575 Official creditors 100 1,191 1,196 7,445 3,751 4,446 938 556 361 85 Private creditors 5 678 560 1,496 3,334 1,006 389 620 200 490 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 795 558 352 231 135 40 21 6 3 2 Principal 11,023 5,689 3,723 4,100 3,402 2,171 1,903 1,888 1,598 1,137 Interest 1,074 965 760 644 538 437 383 334 429 217 Official creditors Disbursements 795 558 352 231 135 40 21 6 3 2 Principal 972 995 1,025 1,144 1,200 932 957 919 771 688 Interest 373 355 335 311 284 239 211 182 155 132 Bilateral creditors Disbursements 669 447 248 148 60 28 12 0 0 0 Principal 686 708 734 853 608 634 654 615 509 490 Interest 231 220 207 193 175 161 147 132 119 107 Multilateral creditors Disbursements 126 110 105 83 75 12 9 6 3 2 Principal 286 287 291 292 593 298 303 304 263 198 Interest 142 135 127 118 109 78 64 50 36 25 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 10,051 4,694 2,698 2,955 2,202 1,239 946 969 827 449 Interest 701 610 425 333 254 198 172 152 274 85 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 548 349 147 314 407 387 13 13 3 2 Interest 47 30 22 20 12 5 1 1 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 9,503 4,345 2,551 2,642 1,795 853 933 956 824 447 Interest 654 580 402 313 242 192 171 151 274 85 520 TOGO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 40 1,122 1,281 1,346 1,472 1,521 1,432 1,406 1,587 1,707 Long-term debt (LDOD) 40 970 1,081 1,214 1,325 1,285 1,230 1,203 1,337 1,489 Public and publicly guaranteed 40 970 1,081 1,214 1,325 1,285 1,230 1,203 1,337 1,489 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 33 87 88 95 83 70 57 52 42 Short-term debt 0 120 113 44 52 154 133 146 198 176 of which interest arrears on LDOD 0 15 1 3 14 34 63 62 96 134 Official creditors 0 7 1 3 14 34 63 62 96 134 Private creditors 0 9 0 0 0 0 0 0 0 0 Memo: principal arrears on LDOD 0 35 3 2 13 35 67 94 155 229 Official creditors 0 14 2 2 13 35 67 94 155 229 Private creditors 0 20 1 0 0 0 0 0 0 0 Memo: export credits 0 0 351 277 307 278 266 258 364 394 TOTAL DEBT FLOWS Disbursements 5 119 110 72 84 38 25 33 13 4 Long-term debt 5 97 89 57 69 38 25 33 13 4 IMF purchases 0 22 21 15 15 0 0 0 0 0 Principal repayments 2 19 43 40 28 32 19 22 10 14 Long-term debt 2 19 27 28 17 22 10 11 1 0 IMF repurchases 0 0 16 12 11 9 9 10 9 14 Net flows on debt 3 108 16 12 52 87 -43 25 22 -70 of which short-term debt 0 7 -51 -20 -3 81 -49 14 19 -60 Interest payments (INT) 1 34 43 16 12 13 10 11 3 2 Long-term debt 1 19 33 13 10 8 5 6 0 0 IMF charges 0 0 4 0 0 0 0 0 0 0 Short-term debt 0 14 6 2 2 4 5 5 2 2 Net transfers on debt 2 74 -27 -4 40 74 -54 14 19 -73 Total debt service paid (TDS) 2 52 86 56 41 45 30 32 13 16 Long-term debt 2 38 60 42 27 31 15 17 1 0 IMF repurchases and charges 0 0 20 12 12 10 10 11 10 14 Short-term debt (interest only) 0 14 6 2 2 4 5 5 2 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 11 136 204 118 157 109 112 119 104 56 Net flow of long-term debt (ex. IMF) 3 78 62 29 52 15 15 21 12 3 Foreign direct investment (net) 1 43 18 21 30 43 42 64 54 20 Portfolio equity flows 0 0 4 11 12 9 6 2 6 0 Grants (excluding technical coop.) 7 15 120 58 63 43 49 33 32 33 Memo: technical coop. grants 8 29 60 27 27 27 23 24 27 34 official net resource flows 11 53 182 92 116 58 64 54 44 37 private net resource flows 0 84 22 26 42 51 48 65 60 20 NET TRANSFERS 10 117 156 88 129 83 90 88 85 36 Interest on long-term debt 1 19 33 13 10 8 5 6 0 0 Profit remittances on FDI 0 0 15 16 19 19 17 25 19 20 Memo: official net transfers 10 41 154 79 106 50 59 49 44 37 private net transfers 0 76 2 9 23 33 31 40 41 0 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 248 1,096 1,598 1,470 1,529 1,514 1,302 1,282 1,426 1,699 Exports of goods, serv. & inc. (XGS) .. 580 723 555 541 505 472 506 627 841 Worker remit. & comp. of employees 0 10 27 26 19 23 34 69 103 103 Imports of goods & services (MGS) .. 752 912 762 770 699 664 701 772 966 International reserves (RES) 35 85 358 119 118 122 152 126 205 182 Current account balance .. -95 -84 -117 -140 -127 -140 -169 -140 .. 4. DEBT INDICATORS EDT / XGS (%) .. 193.4 177.2 242.6 272.2 301.5 303.3 277.6 253.1 203.1 EDT / GNI (%) 16.0 102.4 80.1 91.5 96.3 100.5 110.0 109.6 111.3 100.5 TDS / XGS (%) .. 9.0 11.9 10.1 7.5 8.9 6.3 6.4 2.1 1.9 INT / XGS (%) .. 5.8 6.0 2.9 2.3 2.6 2.2 2.1 0.4 0.3 INT / GNI (%) 0.3 3.1 2.7 1.1 0.8 0.9 0.8 0.8 0.2 0.1 RES / EDT (%) 88.8 7.6 28.0 8.8 8.0 8.0 10.6 9.0 12.9 10.7 RES / MGS (months) .. 1.4 4.7 1.9 1.8 2.1 2.8 2.2 3.2 2.3 Short-term / EDT (%) 0.1 10.7 8.8 3.3 3.5 10.1 9.3 10.4 12.5 10.3 Concessional / EDT (%) 78.9 28.3 55.1 71.4 71.4 68.7 70.2 70.2 68.7 70.4 Multilateral / EDT (%) 4.8 10.3 43.7 53.4 54.4 52.1 53.6 53.6 51.9 53.2 521 TOGO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 40 970 1,081 1,214 1,325 1,285 1,230 1,203 1,337 1,489 Public and publicly guaranteed 40 970 1,081 1,214 1,325 1,285 1,230 1,203 1,337 1,489 Official creditors 32 554 1,029 1,214 1,325 1,285 1,230 1,203 1,337 1,489 Multilateral 2 116 560 718 800 793 768 754 824 909 Concessional 2 90 516 705 777 774 751 740 807 888 Bilateral 30 439 469 496 525 492 462 449 514 580 Concessional 30 228 189 256 275 272 254 248 283 314 Private creditors 8 415 52 0 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 96 51 0 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 43 393 561 620 622 604 585 632 687 DISBURSEMENTS 5 97 89 57 69 38 25 33 13 4 Public and publicly guaranteed 5 97 89 57 69 38 25 33 13 4 Official creditors 4 47 89 57 69 38 25 33 13 4 Multilateral 1 35 45 37 63 32 22 25 10 4 Concessional 1 30 44 37 52 32 22 25 10 4 Bilateral 3 12 44 20 6 5 4 8 3 0 Concessional 3 5 44 20 6 5 4 8 3 0 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 17 44 22 15 12 7 0 PRINCIPAL REPAYMENTS 2 19 27 28 17 22 10 11 1 0 Public and publicly guaranteed 2 19 27 28 17 22 10 11 1 0 Official creditors 1 10 27 22 17 22 10 11 1 0 Multilateral 0 0 17 16 9 14 9 11 1 0 Concessional 0 0 5 9 8 11 8 11 1 0 Bilateral 1 9 10 6 8 8 2 0 0 0 Concessional 1 1 1 4 6 5 1 0 0 0 Private creditors 1 9 0 6 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 4 0 6 0 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 5 8 5 10 0 0 NET FLOWS ON DEBT 3 78 62 29 52 15 15 21 12 3 Public and publicly guaranteed 3 78 62 29 52 15 15 21 12 3 Official creditors 3 37 62 35 52 15 15 21 12 3 Multilateral 1 35 28 21 54 18 13 13 9 3 Concessional 1 30 39 28 45 21 14 14 9 3 Bilateral 2 3 34 13 -2 -3 2 8 3 0 Concessional 2 4 43 15 0 1 2 8 3 0 Private creditors 0 41 0 -6 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -2 0 -6 0 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 13 39 15 10 1 7 0 522 TOGO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 1 19 33 13 10 8 5 6 0 0 Public and publicly guaranteed 1 19 33 13 10 8 5 6 0 0 Official creditors 1 12 28 13 10 8 5 6 0 0 Multilateral 0 2 8 7 5 7 5 6 0 0 Concessional 0 1 4 6 5 6 4 6 0 0 Bilateral 1 9 20 6 5 1 0 0 0 0 Concessional 1 0 4 2 3 1 0 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 4 3 5 3 5 0 0 NET TRANSFERS ON DEBT 2 59 29 15 42 7 11 16 12 3 Public and publicly guaranteed 2 59 29 15 42 7 11 16 12 3 Official creditors 3 26 34 21 42 7 11 16 12 3 Multilateral 1 33 20 14 49 11 9 8 9 3 Concessional 1 29 35 22 40 15 9 8 9 3 Bilateral 2 -7 14 8 -7 -4 2 8 3 0 Concessional 2 3 40 13 -3 -1 2 8 3 0 Private creditors -1 33 -5 -6 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 -10 -5 -6 0 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 9 36 10 7 -4 7 0 DEBT SERVICE (LTDS) 2 38 60 42 27 31 15 17 1 0 Public and publicly guaranteed 2 38 60 42 27 31 15 17 1 0 Official creditors 2 21 55 36 27 31 15 17 1 0 Multilateral 0 3 24 23 14 21 13 17 1 0 Concessional 0 1 9 15 12 17 13 17 1 0 Bilateral 2 19 30 12 12 9 2 0 0 0 Concessional 1 2 4 7 8 6 2 0 0 0 Private creditors 1 16 5 6 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 12 5 6 0 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 8 8 13 8 15 0 0 UNDISBURSED DEBT 7 155 290 224 217 188 152 120 100 78 Official creditors 6 151 290 224 217 188 152 120 100 78 Private creditors 1 3 0 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 31 318 705 961 1,052 1,046 1,005 987 1,090 1,202 Variable rate LDOD 0 108 37 119 136 126 115 113 131 149 Public sector LDOD 36 968 1,081 1,214 1,325 1,285 1,230 1,203 1,337 1,489 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 18.3 Deutsche mark 62.3 16.3 1.9 1.4 1.4 1.2 1.3 .. .. .. French franc 7.8 22.3 12.9 7.4 7.4 6.8 6.6 .. .. .. Japanese yen 0.0 0.0 3.0 5.8 5.8 6.6 6.1 5.4 5.3 5.4 Pound sterling 0.0 5.4 1.9 1.7 1.6 1.6 1.6 1.6 1.6 1.6 Swiss franc 0.0 9.5 10.3 9.5 8.6 8.2 7.8 7.9 8.6 8.7 U.S.dollars 15.4 18.1 44.2 49.4 49.9 51.7 52.7 52.9 51.1 49.4 Multiple currency 0.0 2.1 7.5 7.1 7.0 6.9 6.7 6.4 6.4 6.6 Special drawing rights 0.0 0.0 1.0 1.2 1.2 1.3 1.3 1.2 1.3 1.4 All other currencies 14.5 26.3 17.3 16.6 16.9 15.7 16.0 8.6 8.7 8.7 523 TOGO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 79 30 19 9 0 4 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 3 0 0 Principal rescheduled .. .. 66 15 7 0 0 0 0 0 Official .. .. 66 15 7 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Interest rescheduled .. .. 12 15 7 0 0 0 0 0 Official .. .. 12 15 7 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 0 Debt forgiven .. .. 18 4 11 0 0 2 0 0 Memo: interest forgiven .. .. 0 35 1 0 0 0 0 0 Debt stock reduction .. .. 0 49 0 0 0 0 0 0 of which debt buyback .. .. 0 6 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 104 -142 126 50 -89 -26 181 120 Net flows on debt 3 108 16 12 52 87 -43 25 22 -70 Net change in interest arrears .. .. 1 -24 11 21 29 -1 33 38 Interest capitalized .. .. 12 15 7 0 0 0 0 0 Debt forgiveness or reduction .. .. -18 -47 -11 0 0 -2 0 0 Cross-currency valuation .. .. 42 -194 -18 -63 -66 -40 115 138 Residual .. .. 52 96 85 5 -9 -9 12 14 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.6 4.0 0.7 1.0 2.5 0.8 0.0 2.5 0.0 1.2 Maturity (years) 16.8 24.5 39.5 37.8 29.9 47.0 0.0 24.9 0.0 13.5 Grace period (years) 4.4 7.4 10.4 9.7 7.6 10.3 0.0 7.4 0.0 1.0 Grant element (%) 32.8 46.5 80.2 76.8 59.6 82.0 0.0 56.4 0.0 40.8 Official creditors Interest (%) 3.5 3.2 0.7 1.0 2.5 0.8 0.0 2.5 0.0 1.2 Maturity (years) 21.3 26.7 39.5 37.8 29.9 47.0 0.0 24.9 0.0 13.5 Grace period (years) 5.4 8.0 10.4 9.7 7.6 10.3 0.0 7.4 0.0 1.0 Grant element (%) 42.6 52.6 80.2 76.8 59.6 82.0 0.0 56.4 0.0 40.8 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 97 115 108 55 22 0 6 0 19 Official creditors 2 86 115 108 55 22 0 6 0 19 Private creditors 1 11 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 15 15 12 8 7 5 3 1 0 0 Principal 50 42 42 45 48 50 51 53 54 56 Interest 22 21 20 19 18 17 16 15 14 13 Official creditors Disbursements 15 15 12 8 7 5 3 1 0 0 Principal 50 42 42 45 48 50 51 53 54 56 Interest 22 21 20 19 18 17 16 15 14 13 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 28 18 15 17 18 19 19 20 21 22 Interest 14 13 12 12 11 10 10 9 8 7 Multilateral creditors Disbursements 15 15 12 8 7 5 3 1 0 0 Principal 22 24 27 28 30 32 32 33 34 34 Interest 8 8 8 7 7 7 7 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 0 524 TONGA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 53.7 58.7 64.9 69.1 65.5 63.4 73.5 83.8 Long-term debt (LDOD) .. .. 44.5 57.7 64.2 68.7 65.1 62.7 72.6 82.9 Public and publicly guaranteed .. .. 44.5 57.7 64.2 68.7 65.1 62.7 72.6 82.9 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 .. .. 9.2 1.0 0.7 0.4 0.5 0.6 1.0 1.0 of which interest arrears on LDOD .. .. 0.0 0.0 0.1 0.2 0.3 0.5 0.7 0.8 Official creditors .. .. 0.0 0.0 0.1 0.2 0.3 0.5 0.7 0.8 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 0.4 0.9 2.0 2.7 3.3 Official creditors .. .. 0.0 0.0 0.1 0.4 0.9 2.0 2.7 3.3 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TOTAL DEBT FLOWS Disbursements .. .. 3.3 4.0 7.0 4.4 5.2 2.7 5.6 9.7 Long-term debt .. .. 3.3 4.0 7.0 4.4 5.2 2.7 5.6 9.7 IMF purchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 1.0 3.2 2.6 3.2 3.4 1.7 2.1 2.9 Long-term debt .. .. 1.0 3.2 2.6 3.2 3.4 1.7 2.1 2.9 IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 10.4 0.5 4.0 0.8 1.7 0.9 3.6 6.7 of which short-term debt .. .. 8.2 -0.3 -0.4 -0.4 0.0 0.0 0.1 -0.1 Interest payments (INT) .. .. 0.9 0.9 0.9 0.8 0.8 0.6 0.6 0.8 Long-term debt .. .. 0.5 0.9 0.8 0.8 0.8 0.6 0.6 0.8 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 0.0 0.0 0.0 0.0 0.0 0.0 Net transfers on debt .. .. 9.5 -0.4 3.1 0.0 0.9 0.4 3.0 5.8 Total debt service paid (TDS) .. .. 1.9 4.1 3.5 4.0 4.2 2.3 2.7 3.8 Long-term debt .. .. 1.5 4.1 3.5 4.0 4.2 2.3 2.7 3.7 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 0.0 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 11.9 11.9 10.3 13.3 11.6 9.9 16.4 Net flow of long-term debt (ex. IMF) .. .. 2.2 0.8 4.3 1.2 1.8 0.9 3.5 6.8 Foreign direct investment (net) .. .. 0.2 3.0 2.0 2.0 4.7 1.0 2.4 2.7 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 8.1 5.6 7.1 6.9 9.7 4.0 6.9 Memo: technical coop. grants .. .. 10.9 17.0 14.1 13.6 11.2 12.8 15.7 14.1 official net resource flows .. .. 19.1 10.0 10.7 9.6 9.9 10.6 7.5 13.7 private net resource flows .. .. 0.1 1.9 1.2 0.7 3.4 1.0 2.4 2.7 NET TRANSFERS .. .. 18.4 10.0 10.1 8.5 11.5 11.0 8.6 15.6 Interest on long-term debt .. .. 0.5 0.9 0.8 0.8 0.8 0.6 0.6 0.8 Profit remittances on FDI .. .. 0.3 1.0 1.0 1.0 1.0 0.0 0.7 0.0 Memo: official net transfers .. .. 18.6 9.4 10.1 9.0 9.1 10.0 6.9 12.9 private net transfers .. .. -0.2 0.6 0.0 -0.4 2.4 1.0 1.7 2.7 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 116.2 183.1 166.9 159.8 160.1 141.9 135.4 160.7 Exports of goods, serv. & inc. (XGS) .. .. 66.5 .. .. .. .. 84.4 109.3 .. Worker remit. & comp. of employees .. .. 24.0 0.0 0.0 0.0 0.0 53.0 66.0 66.0 Imports of goods & services (MGS) .. .. 75.0 .. .. .. .. 93.5 109.1 .. International reserves (RES) .. .. 31.3 27.5 28.7 26.8 27.0 26.1 27.7 42.6 Current account balance .. .. 5.8 .. .. .. .. -10.8 -3.3 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. 80.8 .. .. .. .. 75.0 67.3 .. EDT / GNI (%) .. .. 46.2 32.1 38.9 43.2 40.9 44.7 54.3 52.2 TDS / XGS (%) .. .. 2.9 .. .. .. .. 2.8 2.5 .. INT / XGS (%) .. .. 1.4 .. .. .. .. 0.7 0.6 .. INT / GNI (%) .. .. 0.8 0.5 0.5 0.5 0.5 0.4 0.5 0.5 RES / EDT (%) .. .. 58.4 46.9 44.1 38.8 41.2 41.2 37.7 50.8 RES / MGS (months) .. .. 5.0 .. .. .. .. 3.3 3.0 .. Short-term / EDT (%) .. .. 17.2 1.8 1.1 0.5 0.7 1.0 1.3 1.2 Concessional / EDT (%) .. .. 72.2 83.6 84.9 87.3 90.4 90.8 90.7 91.4 Multilateral / EDT (%) .. .. 42.4 73.0 77.1 81.4 82.1 78.1 80.2 81.5 525 TONGA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 44.5 57.7 64.2 68.7 65.1 62.7 72.6 82.9 Public and publicly guaranteed .. .. 44.5 57.7 64.2 68.7 65.1 62.7 72.6 82.9 Official creditors .. .. 44.5 54.3 61.7 67.5 65.1 62.7 72.6 82.9 Multilateral .. .. 22.7 42.8 50.1 56.3 53.8 49.5 58.9 68.3 Concessional .. .. 18.0 37.6 43.5 50.9 49.1 45.3 54.1 63.1 Bilateral .. .. 21.7 11.5 11.6 11.2 11.3 13.2 13.6 14.5 Concessional .. .. 20.8 11.5 11.6 9.4 10.1 12.2 12.6 13.5 Private creditors .. .. 0.0 3.4 2.5 1.3 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 .. .. 0.0 3.4 2.5 1.3 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 .. .. 2.6 4.3 4.4 4.3 4.0 3.8 4.2 7.4 DISBURSEMENTS .. .. 3.3 4.0 7.0 4.4 5.2 2.7 5.6 9.7 Public and publicly guaranteed .. .. 3.3 4.0 7.0 4.4 5.2 2.7 5.6 9.7 Official creditors .. .. 3.3 4.0 7.0 4.4 5.2 2.7 5.6 9.7 Multilateral .. .. 3.3 3.9 6.5 2.4 3.0 0.2 5.2 8.9 Concessional .. .. 3.2 2.4 5.1 2.4 3.0 0.2 5.2 8.7 Bilateral .. .. 0.0 0.0 0.5 2.0 2.2 2.5 0.4 0.7 Concessional .. .. 0.0 0.0 0.5 0.3 2.2 2.5 0.4 0.7 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 .. .. 1.0 0.0 0.0 0.0 0.0 0.0 0.2 2.6 PRINCIPAL REPAYMENTS .. .. 1.0 3.2 2.6 3.2 3.4 1.7 2.1 2.9 Public and publicly guaranteed .. .. 1.0 3.2 2.6 3.2 3.4 1.7 2.1 2.9 Official creditors .. .. 1.0 2.1 1.8 1.9 2.1 1.7 2.1 2.9 Multilateral .. .. 0.5 0.9 0.7 0.9 0.9 1.0 0.9 1.5 Concessional .. .. 0.3 0.3 0.4 0.5 0.6 0.7 0.7 0.8 Bilateral .. .. 0.5 1.2 1.1 1.0 1.2 0.7 1.3 1.4 Concessional .. .. 0.4 1.2 1.1 1.0 0.9 0.6 1.3 1.0 Private creditors .. .. 0.0 1.1 0.8 1.3 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 1.1 0.8 1.3 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 .. .. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 NET FLOWS ON DEBT .. .. 2.2 0.8 4.3 1.2 1.8 0.9 3.5 6.8 Public and publicly guaranteed .. .. 2.2 0.8 4.3 1.2 1.8 0.9 3.5 6.8 Official creditors .. .. 2.2 1.9 5.2 2.5 3.0 0.9 3.5 6.8 Multilateral .. .. 2.8 3.1 5.8 1.5 2.1 -0.8 4.3 7.4 Concessional .. .. 2.9 2.1 4.7 1.9 2.4 -0.5 4.5 7.9 Bilateral .. .. -0.5 -1.1 -0.6 1.0 1.0 1.7 -0.8 -0.6 Concessional .. .. -0.4 -1.1 -0.6 -0.8 1.3 1.9 -0.8 -0.3 Private creditors .. .. 0.0 -1.1 -0.8 -1.3 -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 -1.1 -0.8 -1.3 -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 .. .. 1.0 0.0 0.0 0.0 -0.1 -0.1 0.1 2.6 526 TONGA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 0.5 0.9 0.8 0.8 0.8 0.6 0.6 0.8 Public and publicly guaranteed .. .. 0.5 0.9 0.8 0.8 0.8 0.6 0.6 0.8 Official creditors .. .. 0.5 0.6 0.6 0.6 0.7 0.6 0.6 0.8 Multilateral .. .. 0.2 0.5 0.5 0.5 0.5 0.5 0.5 0.6 Concessional .. .. 0.1 0.4 0.4 0.5 0.5 0.5 0.5 0.6 Bilateral .. .. 0.3 0.1 0.1 0.1 0.2 0.1 0.1 0.2 Concessional .. .. 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.2 Private creditors .. .. 0.0 0.3 0.2 0.2 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 .. .. 0.0 0.3 0.2 0.2 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 0.0 0.0 0.0 0.0 NET TRANSFERS ON DEBT .. .. 1.7 -0.1 3.5 0.5 1.0 0.4 2.9 5.9 Public and publicly guaranteed .. .. 1.7 -0.1 3.5 0.5 1.0 0.4 2.9 5.9 Official creditors .. .. 1.7 1.3 4.5 1.9 2.3 0.4 2.9 5.9 Multilateral .. .. 2.5 2.6 5.2 1.0 1.5 -1.3 3.9 6.8 Concessional .. .. 2.8 1.7 4.3 1.4 1.9 -1.0 4.0 7.3 Bilateral .. .. -0.8 -1.2 -0.7 0.9 0.7 1.6 -1.0 -0.8 Concessional .. .. -0.5 -1.2 -0.7 -0.9 1.2 1.8 -1.0 -0.4 Private creditors .. .. 0.0 -1.4 -1.0 -1.4 -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 -1.4 -1.0 -1.4 -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 .. .. 1.0 0.0 -0.1 -0.1 -0.1 -0.1 0.1 2.5 DEBT SERVICE (LTDS) .. .. 1.5 4.1 3.5 4.0 4.2 2.3 2.7 3.7 Public and publicly guaranteed .. .. 1.5 4.1 3.5 4.0 4.2 2.3 2.7 3.7 Official creditors .. .. 1.5 2.7 2.4 2.6 2.9 2.3 2.7 3.7 Multilateral .. .. 0.7 1.4 1.3 1.4 1.4 1.5 1.3 2.2 Concessional .. .. 0.4 0.7 0.7 1.0 1.1 1.2 1.2 1.4 Bilateral .. .. 0.8 1.3 1.2 1.1 1.5 0.8 1.4 1.6 Concessional .. .. 0.5 1.3 1.2 1.1 1.0 0.6 1.4 1.2 Private creditors .. .. 0.0 1.4 1.0 1.4 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 1.4 1.0 1.4 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 .. .. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 UNDISBURSED DEBT .. .. 18.0 15.4 10.6 7.1 1.7 3.3 14.7 17.8 Official creditors .. .. 18.0 15.4 10.6 7.1 1.7 3.3 14.7 17.8 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. .. 38.8 49.1 55.1 60.3 59.2 57.5 66.7 76.6 Variable rate LDOD .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Public sector LDOD .. .. 44.5 57.7 64.2 68.7 65.1 62.7 72.6 82.9 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 .. .. .. .. .. .. .. 15.9 14.2 13.1 Deutsche mark .. .. 40.8 18.8 16.6 12.1 10.7 .. .. .. 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 0.0 Pound sterling .. .. 6.0 1.1 0.7 0.4 0.2 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 .. .. 1.0 9.6 8.2 6.2 4.4 4.3 11.1 20.5 Multiple currency .. .. 45.5 61.7 63.6 69.3 70.1 66.4 62.1 54.2 Special drawing rights .. .. 0.0 4.5 4.5 4.3 4.4 4.4 4.1 3.9 All other currencies .. .. 6.7 4.4 6.4 7.7 10.2 9.0 8.5 8.3 527 TONGA (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 0.0 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 -5.1 6.3 4.2 -3.6 -2.1 10.1 10.3 Net flows on debt .. .. 10.4 0.5 4.0 0.8 1.7 0.9 3.6 6.7 Net change in interest arrears .. .. 0.0 0.0 0.0 0.1 0.1 0.2 0.2 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 .. .. 3.1 -5.2 1.7 -0.8 -4.2 -3.1 5.1 7.3 Residual .. .. 1.1 -0.4 0.6 4.0 -1.2 -0.1 1.2 -3.8 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 0.9 0.0 0.0 5.8 0.0 2.5 1.1 0.8 Maturity (years) .. .. 39.7 0.0 19.1 5.3 0.0 12.1 29.6 39.8 Grace period (years) .. .. 10.2 0.0 10.1 0.8 0.0 4.6 9.1 10.3 Grant element (%) .. .. 79.5 0.0 74.1 10.1 0.0 40.0 71.2 80.7 Official creditors Interest (%) .. .. 0.9 0.0 0.0 5.8 0.0 2.5 1.1 0.8 Maturity (years) .. .. 39.7 0.0 19.1 5.3 0.0 12.1 29.6 39.8 Grace period (years) .. .. 10.2 0.0 10.1 0.8 0.0 4.6 9.1 10.3 Grant element (%) .. .. 79.5 0.0 74.1 10.1 0.0 40.0 71.2 80.7 Private creditors Interest (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. 6 0 3 2 0 5 16 11 Official creditors .. .. 6 0 3 2 0 5 16 11 Private creditors .. .. 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 2.4 2.5 2.4 2.4 2.4 1.8 1.2 0.9 0.7 0.5 Principal 3.4 3.2 3.7 3.7 3.8 2.9 3.2 3.5 3.7 3.7 Interest 1.1 1.4 1.4 1.3 1.2 1.2 1.1 1.1 1.0 1.0 Official creditors Disbursements 2.4 2.5 2.4 2.4 2.4 1.8 1.2 0.9 0.7 0.5 Principal 3.4 3.2 3.7 3.7 3.8 2.9 3.2 3.5 3.7 3.7 Interest 1.1 1.4 1.4 1.3 1.2 1.2 1.1 1.1 1.0 1.0 Bilateral creditors Disbursements 0.6 0.4 0.2 0.3 0.2 0.1 0.0 0.0 0.0 0.0 Principal 1.5 1.1 1.7 1.7 2.0 1.3 1.2 1.0 1.0 0.9 Interest 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 Multilateral creditors Disbursements 1.9 2.1 2.1 2.1 2.2 1.7 1.2 0.9 0.7 0.5 Principal 1.9 2.1 2.0 2.0 1.8 1.6 2.0 2.6 2.7 2.7 Interest 0.9 1.2 1.2 1.1 1.1 1.1 1.0 1.1 1.0 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 0.0 528 TRINIDAD AND TOBAGO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 101 829 2,511 2,316 2,324 2,612 2,696 2,656 2,672 2,751 Long-term debt (LDOD) 101 712 2,055 1,737 1,771 1,779 1,845 1,795 1,807 1,861 Public and publicly guaranteed 101 712 1,782 1,683 1,628 1,635 1,735 1,685 1,697 1,751 Private nonguaranteed 0 0 273 54 144 144 110 110 110 110 Use of IMF credit 0 0 329 4 0 0 0 0 0 0 Short-term debt 0 116 127 575 553 833 851 861 865 890 of which interest arrears on LDOD 0 0 0 7 7 11 1 1 0 0 Official creditors 0 0 0 0 0 0 0 0 0 0 Private creditors 0 0 0 6 7 10 0 0 0 0 Memo: principal arrears on LDOD 0 0 37 92 97 53 49 47 0 0 Official creditors 0 0 6 2 2 2 1 1 0 0 Private creditors 0 0 31 90 96 51 47 46 0 0 Memo: export credits 0 0 591 875 331 265 245 224 243 229 TOTAL DEBT FLOWS Disbursements 12 363 188 83 175 311 416 61 44 82 Long-term debt 8 363 85 83 175 311 416 61 44 82 IMF purchases 5 0 103 0 0 0 0 0 0 0 Principal repayments 14 176 233 399 188 297 332 78 68 74 Long-term debt 10 176 233 381 183 297 332 78 68 74 IMF repurchases 4 0 0 18 4 0 0 0 0 0 Net flows on debt -1 137 -45 -8 -35 291 112 -8 -19 33 of which short-term debt 0 -50 0 308 -23 277 28 9 5 25 Interest payments (INT) 6 54 216 163 138 169 191 171 197 174 Long-term debt 6 50 177 140 108 124 135 132 160 148 IMF charges 0 0 24 1 0 0 0 0 0 0 Short-term debt 0 4 15 22 30 45 56 39 37 26 Net transfers on debt -8 83 -262 -171 -173 122 -79 -179 -216 -141 Total debt service paid (TDS) 20 230 449 562 325 466 523 249 265 249 Long-term debt 16 226 410 521 291 421 467 210 228 222 IMF repurchases and charges 4 0 24 19 4 0 0 0 0 0 Short-term debt (interest only) 0 4 15 22 30 45 56 39 37 26 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 81 372 -26 710 730 662 764 819 768 626 Net flow of long-term debt (ex. IMF) -2 187 -148 -298 -8 13 84 -17 -24 8 Foreign direct investment (net) 83 185 109 999 730 643 680 835 791 616 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 0 1 13 8 9 6 1 1 2 2 Memo: technical coop. grants 1 4 5 5 4 5 5 7 8 6 official net resource flows 2 115 42 -46 -30 -61 -40 -11 -22 10 private net resource flows 80 257 -68 756 760 723 804 830 791 616 NET TRANSFERS 75 -157 -400 342 435 345 279 292 443 -237 Interest on long-term debt 6 50 177 140 108 124 135 132 160 148 Profit remittances on FDI 0 479 197 227 188 194 350 395 165 715 Memo: official net transfers -1 99 -8 -91 -79 -110 -89 -56 -61 -27 private net transfers 76 -256 -392 433 513 455 368 348 505 -211 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 757 5,921 4,673 5,356 5,701 6,409 7,526 8,286 8,381 10,149 Exports of goods, serv. & inc. (XGS) .. 3,373 2,331 3,088 3,038 3,542 4,963 5,028 4,700 6,001 Worker remit. & comp. of employees 0 6 3 30 45 54 38 41 79 79 Imports of goods & services (MGS) .. 2,972 1,863 3,676 3,660 3,494 4,419 4,604 4,599 4,717 International reserves (RES) 43 2,813 513 723 800 963 1,403 1,924 2,049 2,477 Current account balance .. 357 459 -614 -644 31 544 416 76 1,351 4. DEBT INDICATORS EDT / XGS (%) .. 24.6 107.7 75.0 76.5 73.8 54.3 52.8 56.8 45.8 EDT / GNI (%) 13.3 14.0 53.7 43.2 40.8 40.8 35.8 32.1 31.9 27.1 TDS / XGS (%) .. 6.8 19.3 18.2 10.7 13.2 10.5 5.0 5.6 4.1 INT / XGS (%) .. 1.6 9.3 5.3 4.5 4.8 3.9 3.4 4.2 2.9 INT / GNI (%) 0.8 0.9 4.6 3.0 2.4 2.6 2.5 2.1 2.4 1.7 RES / EDT (%) 42.7 339.4 20.4 31.2 34.4 36.9 52.0 72.4 76.7 90.0 RES / MGS (months) .. 11.4 3.3 2.4 2.6 3.3 3.8 5.0 5.3 6.3 Short-term / EDT (%) 0.0 14.0 5.1 24.8 23.8 31.9 31.6 32.4 32.4 32.3 Concessional / EDT (%) 5.9 1.1 2.1 0.6 0.5 0.4 0.3 0.4 0.1 0.1 Multilateral / EDT (%) 23.1 8.6 4.1 25.2 26.7 24.7 23.5 22.9 22.8 23.5 529 TRINIDAD AND TOBAGO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 101 712 2,055 1,737 1,771 1,779 1,845 1,795 1,807 1,861 Public and publicly guaranteed 101 712 1,782 1,683 1,628 1,635 1,735 1,685 1,697 1,751 Official creditors 45 263 634 778 763 688 642 613 626 664 Multilateral 23 71 103 584 620 645 634 607 610 648 Concessional 0 1 6 4 6 7 7 10 4 4 Bilateral 22 192 532 194 143 42 8 5 16 17 Concessional 6 8 48 10 6 4 2 1 0 0 Private creditors 56 450 1,147 905 865 948 1,093 1,073 1,071 1,087 Bonds 36 53 335 575 575 802 1,026 1,013 1,022 1,033 Commercial banks 15 348 624 273 241 108 47 46 49 54 Other private 4 50 188 57 49 38 20 13 0 0 Private nonguaranteed 0 0 273 54 144 144 110 110 110 110 Bonds 0 0 0 0 110 110 110 110 110 110 Commercial banks and other 0 0 273 54 34 34 0 0 0 0 Memo: IBRD 23 57 41 75 83 85 89 90 87 85 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 8 363 85 83 175 311 416 61 44 82 Public and publicly guaranteed 8 363 85 83 65 311 416 61 44 82 Official creditors 5 125 43 83 65 81 64 61 44 82 Multilateral 3 11 39 83 63 79 63 61 44 82 Concessional 0 0 0 1 2 2 1 4 0 0 Bilateral 1 114 4 0 2 2 0 0 0 0 Concessional 1 0 0 0 0 0 0 0 0 0 Private creditors 3 238 42 0 0 230 352 0 0 0 Bonds 0 0 0 0 0 230 352 0 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 0 110 0 0 0 0 0 Bonds 0 0 0 0 110 0 0 0 0 0 Commercial banks and other 0 0 0 0 0 0 0 0 0 0 Memo: IBRD 3 4 19 12 15 10 13 11 8 12 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 10 176 233 381 183 297 332 78 68 74 Public and publicly guaranteed 10 176 189 357 163 297 298 78 68 74 Official creditors 3 11 13 137 104 147 104 74 68 74 Multilateral 1 6 10 40 47 50 71 71 61 66 Concessional 0 0 0 0 0 1 1 1 0 0 Bilateral 2 5 3 97 58 98 33 2 7 8 Concessional 0 0 0 5 4 2 2 1 0 0 Private creditors 7 165 176 220 59 150 194 5 0 0 Bonds 5 7 52 150 0 0 122 0 0 0 Commercial banks 1 150 99 55 46 135 56 0 0 0 Other private 0 7 25 15 13 15 17 5 0 0 Private nonguaranteed 0 0 44 24 21 0 34 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 44 24 21 0 34 0 0 0 Memo: IBRD 1 6 6 9 8 8 10 10 11 14 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT -2 187 -148 -298 -8 13 84 -17 -24 8 Public and publicly guaranteed -2 187 -105 -274 -98 13 118 -17 -24 8 Official creditors 1 114 30 -54 -39 -67 -41 -12 -24 8 Multilateral 2 5 29 43 17 29 -8 -10 -17 16 Concessional 0 0 0 1 2 1 0 3 0 0 Bilateral -1 109 0 -97 -56 -96 -33 -2 -7 -8 Concessional 1 0 0 -5 -4 -2 -2 -1 0 0 Private creditors -4 73 -134 -220 -59 80 158 -5 0 0 Bonds -5 -7 -52 -150 0 230 230 0 0 0 Commercial banks 2 47 -99 -55 -46 -135 -56 0 0 0 Other private 0 34 17 -15 -13 -15 -17 -5 0 0 Private nonguaranteed 0 0 -44 -24 89 0 -34 0 0 0 Bonds 0 0 0 0 110 0 0 0 0 0 Commercial banks and other 0 0 -44 -24 -21 0 -34 0 0 0 Memo: IBRD 2 -1 13 4 7 2 4 1 -3 -2 IDA 0 0 0 0 0 0 0 0 0 0 530 TRINIDAD AND TOBAGO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 6 50 177 140 108 124 135 132 160 148 Public and publicly guaranteed 6 50 151 136 105 116 127 124 152 140 Official creditors 2 16 51 45 49 49 49 45 39 37 Multilateral 1 5 6 30 41 42 47 44 37 36 Concessional 0 0 0 0 0 0 0 0 0 0 Bilateral 1 11 45 15 7 7 2 1 2 1 Concessional 0 0 2 1 0 0 0 0 0 0 Private creditors 4 34 101 91 56 66 77 79 113 103 Bonds 2 5 25 71 54 53 62 78 108 97 Commercial banks 1 25 55 16 0 11 13 0 5 6 Other private 0 5 21 4 3 2 2 1 0 0 Private nonguaranteed 0 0 26 4 3 8 8 8 8 8 Bonds 0 0 0 0 0 8 8 8 8 8 Commercial banks and other 0 0 26 4 3 0 0 0 0 0 Memo: IBRD 1 5 2 5 5 6 7 7 6 5 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -9 137 -326 -438 -116 -110 -51 -149 -184 -140 Public and publicly guaranteed -9 137 -256 -410 -203 -102 -9 -141 -176 -132 Official creditors -1 98 -21 -99 -88 -116 -90 -57 -63 -29 Multilateral 1 0 23 13 -25 -13 -55 -54 -54 -19 Concessional 0 0 0 1 2 1 0 3 0 0 Bilateral -2 98 -44 -112 -63 -103 -35 -3 -9 -9 Concessional 1 0 -2 -5 -5 -2 -2 -1 0 0 Private creditors -7 39 -235 -311 -115 14 81 -84 -113 -103 Bonds -7 -12 -77 -221 -54 177 169 -78 -108 -97 Commercial banks 1 22 -154 -72 -46 -146 -69 0 -5 -6 Other private -1 29 -4 -18 -16 -17 -19 -6 0 0 Private nonguaranteed 0 0 -70 -28 87 -8 -42 -8 -8 -8 Bonds 0 0 0 0 110 -8 -8 -8 -8 -8 Commercial banks and other 0 0 -70 -28 -23 0 -34 0 0 0 Memo: IBRD 1 -6 11 -1 2 -4 -3 -6 -9 -7 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 16 226 410 521 291 421 467 210 228 222 Public and publicly guaranteed 16 226 340 493 268 413 425 202 220 214 Official creditors 6 27 64 182 153 197 154 118 107 111 Multilateral 2 11 16 70 88 92 118 115 98 102 Concessional 0 0 1 0 0 1 1 1 0 0 Bilateral 4 16 48 112 65 105 35 3 9 9 Concessional 0 0 2 5 5 2 2 1 0 0 Private creditors 10 199 276 311 115 216 271 84 113 103 Bonds 7 12 77 221 54 53 184 78 108 97 Commercial banks 2 175 154 72 46 146 69 0 5 6 Other private 1 12 45 18 16 17 19 6 0 0 Private nonguaranteed 0 0 70 28 23 8 42 8 8 8 Bonds 0 0 0 0 0 8 8 8 8 8 Commercial banks and other 0 0 70 28 23 0 34 0 0 0 Memo: IBRD 2 10 9 14 13 14 17 17 18 19 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 21 280 330 571 511 541 463 358 336 308 Official creditors 21 201 246 571 511 541 463 358 336 308 Private creditors 0 79 83 0 0 0 0 0 0 0 Memorandum items Concessional LDOD 6 9 54 14 12 11 9 11 4 4 Variable rate LDOD 0 227 1,202 858 915 751 619 602 566 578 Public sector LDOD 101 712 1,782 1,683 1,628 1,635 1,735 1,685 1,697 1,751 Private sector LDOD 0 0 273 54 144 144 110 110 110 110 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 1.4 0.0 0.0 Deutsche mark 0.0 5.6 6.8 1.4 1.1 0.5 0.2 .. .. .. French franc 0.0 0.1 4.1 1.1 0.9 0.2 0.0 .. .. .. Japanese yen 0.0 18.4 34.8 11.9 11.2 4.5 7.1 6.0 6.4 6.8 Pound sterling 33.4 0.2 3.4 3.1 3.2 3.0 2.6 2.6 2.9 3.1 Swiss franc 0.0 4.3 0.0 0.1 0.1 0.1 0.1 0.0 0.0 0.0 U.S.dollars 37.7 61.3 44.9 51.4 56.0 64.6 65.8 69.1 71.1 72.5 Multiple currency 23.1 8.3 4.1 29.8 26.4 26.2 23.1 20.8 19.6 17.6 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 1.2 1.2 0.9 1.2 0.0 0.0 0.0 531 TRINIDAD AND TOBAGO (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 -82 8 288 84 -40 16 80 Net flows on debt -1 137 -45 -8 -35 291 112 -8 -19 33 Net change in interest arrears .. .. 0 -3 1 3 -10 0 -1 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 .. .. 111 -112 -13 15 -15 -33 49 40 Residual .. .. 315 41 56 -21 -3 1 -14 7 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.5 10.4 8.0 6.1 8.5 8.8 8.0 3.7 6.2 4.0 Maturity (years) 9.8 8.6 14.9 18.6 20.1 15.0 23.0 12.1 25.0 12.6 Grace period (years) 1.2 3.7 4.6 5.8 5.3 9.3 23.0 9.1 4.0 3.2 Grant element (%) 10.5 -2.6 10.7 20.1 8.0 8.0 16.9 39.4 25.7 30.9 Official creditors Interest (%) 3.0 7.6 7.9 6.1 8.5 6.9 0.0 3.7 6.2 4.0 Maturity (years) 29.6 9.5 18.1 18.6 15.8 23.6 0.0 12.1 25.0 12.6 Grace period (years) 7.1 2.3 5.4 5.8 5.3 7.2 0.0 9.1 4.0 3.2 Grant element (%) 54.6 9.1 12.0 20.1 8.0 21.7 0.0 39.4 25.7 30.9 Private creditors Interest (%) 8.0 10.6 8.1 0.0 0.0 9.9 8.0 0.0 0.0 0.0 Maturity (years) 7.5 8.6 9.8 0.0 0.0 10.4 23.0 0.0 0.0 0.0 Grace period (years) 0.5 3.9 3.3 0.0 0.0 10.4 23.0 0.0 0.0 0.0 Grant element (%) 5.5 -3.6 8.6 0.0 0.0 0.8 16.9 0.0 0.0 0.0 Memorandum items Commitments 3 210 187 385 2 353 352 3 32 57 Official creditors 0 16 115 385 2 123 0 3 32 57 Private creditors 3 194 72 0 0 230 352 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 105 83 62 34 13 3 2 2 1 1 Principal 394 95 247 88 89 315 75 64 50 160 Interest 144 117 113 97 92 87 59 55 52 42 Official creditors Disbursements 105 83 62 34 13 3 2 2 1 1 Principal 84 85 87 78 79 80 75 64 50 50 Interest 40 41 39 35 32 27 23 19 16 14 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 11 3 3 0 0 0 0 0 0 0 Interest 1 0 0 0 0 0 0 0 0 0 Multilateral creditors Disbursements 105 83 62 34 13 3 2 2 1 1 Principal 74 82 84 78 79 80 75 64 50 50 Interest 40 40 39 35 32 27 23 19 16 14 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 310 10 160 10 10 235 0 0 0 110 Interest 104 76 75 62 60 59 36 36 36 28 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 10 10 10 10 10 5 0 0 0 0 Interest 6 5 4 3 2 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 300 0 150 0 0 230 0 0 0 110 Interest 97 71 71 59 59 59 36 36 36 28 532 TUNISIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 599 3,524 7,688 11,228 10,845 11,868 10,612 10,871 12,923 15,502 Long-term debt (LDOD) 541 3,388 6,878 9,516 9,675 10,254 9,671 10,190 12,325 14,690 Public and publicly guaranteed 541 3,208 6,660 9,333 9,494 9,482 8,871 9,072 10,939 13,134 Private nonguaranteed 0 180 218 183 181 772 800 1,118 1,386 1,556 Use of IMF credit 13 0 176 173 129 76 32 0 0 0 Short-term debt 44 136 634 1,539 1,040 1,538 909 681 598 812 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 1,827 509 521 503 313 325 379 TOTAL DEBT FLOWS Disbursements 96 608 1,017 1,480 646 1,423 1,537 1,896 2,037 2,016 Long-term debt 89 608 1,017 1,480 646 1,423 1,537 1,896 2,037 2,016 IMF purchases 8 0 0 0 0 0 0 0 0 0 Principal repayments 54 290 984 875 868 951 1,350 886 928 1,013 Long-term debt 47 258 872 825 818 901 1,310 854 928 1,013 IMF repurchases 7 31 111 50 50 50 40 31 0 0 Net flows on debt 42 265 292 568 -721 969 -442 782 1,026 1,218 of which short-term debt 0 -54 259 -37 -499 497 -629 -228 -84 215 Interest payments (INT) 18 255 447 538 563 584 553 457 517 581 Long-term debt 18 228 394 479 496 502 489 428 506 572 IMF charges 0 1 23 10 7 4 3 1 0 0 Short-term debt 0 26 30 49 60 77 61 29 11 9 Net transfers on debt 23 10 -156 30 -1,283 386 -995 325 509 637 Total debt service paid (TDS) 73 545 1,431 1,413 1,431 1,535 1,903 1,343 1,445 1,594 Long-term debt 65 486 1,267 1,304 1,314 1,404 1,799 1,282 1,434 1,585 IMF repurchases and charges 7 32 135 60 57 54 43 32 0 0 Short-term debt (interest only) 0 26 30 49 60 77 61 29 11 9 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 100 610 399 1,186 600 977 1,006 1,579 2,025 1,657 Net flow of long-term debt (ex. IMF) 42 350 144 655 -172 522 227 1,041 1,109 1,003 Foreign direct investment (net) 16 235 76 339 650 350 752 457 795 541 Portfolio equity flows 0 0 5 55 58 -3 -18 -15 6 14 Grants (excluding technical coop.) 43 26 174 137 65 108 44 95 114 98 Memo: technical coop. grants 27 74 100 92 93 97 96 91 98 130 official net resource flows 83 274 516 208 -89 239 60 471 356 331 private net resource flows 17 336 -116 978 690 738 946 1,108 1,668 1,326 NET TRANSFERS 82 230 -92 373 -233 77 49 671 1,047 547 Interest on long-term debt 18 228 394 479 496 502 489 428 506 572 Profit remittances on FDI 0 153 97 335 337 398 468 480 473 537 Memo: official net transfers 75 200 267 -131 -418 -91 -235 211 63 25 private net transfers 7 29 -359 503 185 168 285 461 984 523 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,380 8,450 11,882 17,997 18,946 19,895 18,520 19,033 20,028 23,942 Exports of goods, serv. & inc. (XGS) .. 3,674 5,851 8,934 9,290 9,644 9,497 10,562 10,681 12,295 Worker remit. & comp. of employees 0 319 551 685 718 761 796 927 1,071 1,250 Imports of goods & services (MGS) .. 4,119 6,591 9,636 10,079 10,227 10,347 11,457 11,487 13,082 International reserves (RES) 60 700 867 2,041 1,913 2,325 1,871 2,050 2,365 3,036 Current account balance .. -353 -463 -595 -675 -442 -821 -840 -746 -730 4. DEBT INDICATORS EDT / XGS (%) .. 95.9 131.4 125.7 116.7 123.1 111.7 102.9 121.0 126.1 EDT / GNI (%) 43.4 41.7 64.7 62.4 57.2 59.7 57.3 57.1 64.5 64.7 TDS / XGS (%) .. 14.8 24.5 15.8 15.4 15.9 20.0 12.7 13.5 13.0 INT / XGS (%) .. 6.9 7.6 6.0 6.1 6.1 5.8 4.3 4.8 4.7 INT / GNI (%) 1.3 3.0 3.8 3.0 3.0 2.9 3.0 2.4 2.6 2.4 RES / EDT (%) 10.0 19.9 11.3 18.2 17.6 19.6 17.6 18.9 18.3 19.6 RES / MGS (months) .. 2.0 1.6 2.5 2.3 2.7 2.2 2.1 2.5 2.8 Short-term / EDT (%) 7.4 3.9 8.2 13.7 9.6 13.0 8.6 6.3 4.6 5.2 Concessional / EDT (%) 55.7 39.3 36.2 22.6 23.0 21.7 24.4 23.8 22.7 21.7 Multilateral / EDT (%) 7.3 12.3 29.0 30.9 32.7 30.6 32.4 33.3 34.3 34.4 533 TUNISIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 541 3,388 6,878 9,516 9,675 10,254 9,671 10,190 12,325 14,690 Public and publicly guaranteed 541 3,208 6,660 9,333 9,494 9,482 8,871 9,072 10,939 13,134 Official creditors 364 1,959 5,240 6,985 7,054 6,401 6,034 6,127 7,153 8,417 Multilateral 44 433 2,233 3,472 3,542 3,637 3,441 3,616 4,426 5,325 Concessional 16 75 229 423 421 418 475 541 665 766 Bilateral 320 1,527 3,008 3,514 3,512 2,764 2,592 2,511 2,727 3,092 Concessional 317 1,309 2,551 2,115 2,072 2,162 2,113 2,051 2,274 2,598 Private creditors 177 1,249 1,420 2,348 2,441 3,081 2,838 2,946 3,786 4,717 Bonds 2 6 0 1,112 1,200 1,825 1,327 1,642 2,433 3,315 Commercial banks 0 493 339 573 560 484 839 703 776 943 Other private 175 750 1,081 663 681 772 671 601 577 459 Private nonguaranteed 0 180 218 183 181 772 800 1,118 1,386 1,556 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 180 218 183 181 772 800 1,118 1,386 1,556 Memo: IBRD 26 269 1,347 1,434 1,458 1,323 1,211 1,297 1,464 1,779 IDA 16 68 59 45 43 41 39 37 35 33 DISBURSEMENTS 89 608 1,017 1,480 646 1,423 1,537 1,896 2,037 2,016 Public and publicly guaranteed 89 556 987 1,450 616 1,223 1,237 1,546 1,737 1,814 Official creditors 54 321 699 656 456 784 697 1,011 959 1,008 Multilateral 13 82 430 351 287 528 416 701 743 711 Concessional 3 8 45 24 26 48 93 109 128 111 Bilateral 41 239 269 304 169 256 281 311 216 297 Concessional 40 194 177 114 117 242 278 247 168 221 Private creditors 34 235 288 794 159 439 540 534 778 807 Bonds 0 0 0 586 0 240 0 453 650 632 Commercial banks 0 51 88 74 49 19 519 44 114 166 Other private 34 184 200 134 110 180 21 37 14 8 Private nonguaranteed 0 53 30 30 30 200 300 350 300 202 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 53 30 30 30 200 300 350 300 202 Memo: IBRD 9 51 213 127 142 210 136 293 117 251 IDA 3 1 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 47 258 872 825 818 901 1,310 854 928 1,013 Public and publicly guaranteed 47 216 835 790 786 869 1,278 822 896 981 Official creditors 14 72 357 584 610 653 681 635 717 775 Multilateral 1 20 168 344 366 391 408 361 450 482 Concessional 0 0 7 25 36 28 31 36 39 44 Bilateral 13 52 189 241 244 262 273 274 267 292 Concessional 11 40 142 186 189 181 192 168 172 208 Private creditors 33 144 478 206 175 216 597 187 179 206 Bonds 0 5 60 0 0 0 371 0 0 0 Commercial banks 0 24 113 88 63 134 134 104 95 113 Other private 33 114 305 118 113 82 92 84 84 93 Private nonguaranteed 0 43 37 35 32 32 32 32 32 32 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 43 37 35 32 32 32 32 32 32 Memo: IBRD 1 15 111 173 178 166 150 146 154 205 IDA 0 0 1 2 2 2 2 2 2 2 NET FLOWS ON DEBT 42 350 144 655 -172 522 227 1,041 1,109 1,003 Public and publicly guaranteed 42 340 151 660 -170 354 -41 723 841 833 Official creditors 40 249 342 72 -154 131 16 376 242 233 Multilateral 12 61 262 8 -79 137 8 340 293 228 Concessional 3 8 38 -1 -10 20 62 72 89 67 Bilateral 29 187 80 64 -75 -6 7 37 -51 5 Concessional 30 154 35 -73 -71 61 86 80 -5 13 Private creditors 1 91 -190 588 -16 223 -56 347 599 601 Bonds 0 -5 -60 586 0 240 -371 453 650 632 Commercial banks 0 27 -26 -15 -14 -115 385 -60 19 54 Other private 1 70 -105 17 -2 98 -70 -46 -70 -86 Private nonguaranteed 0 10 -7 -5 -2 168 268 318 268 170 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 10 -7 -5 -2 168 268 318 268 170 Memo: IBRD 8 36 102 -46 -37 44 -15 147 -37 46 IDA 3 1 -1 -2 -2 -2 -2 -2 -2 -2 534 TUNISIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 18 228 394 479 496 502 489 428 506 572 Public and publicly guaranteed 18 212 384 469 488 492 479 419 468 528 Official creditors 8 74 249 339 328 330 295 260 293 306 Multilateral 2 28 149 246 228 245 213 178 225 231 Concessional 0 1 6 15 15 16 16 19 22 28 Bilateral 7 46 100 93 100 85 82 82 68 75 Concessional 6 29 73 64 60 56 54 53 51 56 Private creditors 10 138 136 130 159 162 184 158 175 222 Bonds 0 1 5 36 66 85 99 87 119 163 Commercial banks 0 69 35 37 36 30 39 33 23 29 Other private 10 68 96 57 57 48 46 38 33 30 Private nonguaranteed 0 16 10 9 8 10 10 9 38 44 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 16 10 9 8 10 10 9 38 44 Memo: IBRD 1 22 103 103 90 103 79 80 79 81 IDA 0 1 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 23 123 -250 176 -668 19 -262 614 604 431 Public and publicly guaranteed 23 128 -233 191 -658 -138 -520 305 373 305 Official creditors 32 175 93 -267 -482 -199 -280 116 -51 -74 Multilateral 10 33 113 -238 -308 -108 -205 161 68 -3 Concessional 3 7 32 -15 -24 5 46 53 67 40 Bilateral 22 141 -20 -29 -175 -91 -75 -45 -120 -71 Concessional 23 125 -37 -136 -132 4 33 27 -55 -44 Private creditors -9 -46 -326 458 -175 60 -240 189 425 379 Bonds 0 -6 -65 550 -66 155 -470 366 531 470 Commercial banks 0 -43 -60 -52 -50 -145 346 -93 -4 25 Other private -9 3 -201 -40 -59 50 -117 -85 -103 -115 Private nonguaranteed 0 -6 -17 -14 -10 158 258 309 230 126 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 -6 -17 -14 -10 158 258 309 230 126 Memo: IBRD 7 14 -1 -148 -127 -59 -94 67 -116 -36 IDA 3 0 -2 -2 -2 -2 -2 -2 -2 -2 DEBT SERVICE (LTDS) 65 486 1,267 1,304 1,314 1,404 1,799 1,282 1,434 1,585 Public and publicly guaranteed 65 428 1,220 1,259 1,273 1,361 1,757 1,241 1,364 1,509 Official creditors 22 146 606 923 939 983 976 895 1,010 1,081 Multilateral 3 48 317 590 595 636 621 539 675 714 Concessional 0 1 13 39 51 44 47 56 61 72 Bilateral 19 98 289 333 344 347 356 356 336 367 Concessional 17 70 215 250 249 237 246 220 223 264 Private creditors 43 281 614 336 335 378 780 346 354 428 Bonds 0 6 65 36 66 85 470 87 119 163 Commercial banks 0 94 148 126 99 164 173 137 118 142 Other private 43 182 401 175 169 130 138 122 117 123 Private nonguaranteed 0 58 47 44 40 42 42 41 70 76 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 58 47 44 40 42 42 41 70 76 Memo: IBRD 3 37 214 275 268 269 229 226 233 286 IDA 0 1 2 2 2 2 2 2 2 2 UNDISBURSED DEBT 319 2,050 3,861 3,530 4,133 6,242 4,178 4,672 5,304 5,336 Official creditors 269 1,578 3,157 3,083 3,557 5,909 3,709 4,319 4,721 4,930 Private creditors 50 472 704 448 576 333 469 353 583 406 Memorandum items Concessional LDOD 333 1,384 2,781 2,538 2,493 2,580 2,588 2,592 2,940 3,364 Variable rate LDOD 0 680 1,560 2,523 2,565 3,170 3,018 3,444 4,195 5,002 Public sector LDOD 528 3,118 6,660 9,331 9,493 9,482 8,871 9,072 10,939 13,134 Private sector LDOD 13 270 218 186 183 772 800 1,118 1,386 1,556 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 25.0 26.9 32.3 Deutsche mark 8.7 10.8 11.0 6.1 6.2 6.1 5.6 .. .. .. French franc 23.4 21.1 13.6 9.9 10.2 11.0 10.7 .. .. .. Japanese yen 0.0 1.7 8.6 13.9 15.1 20.7 21.6 23.9 21.8 22.6 Pound sterling 0.8 0.2 0.1 0.0 0.0 0.5 0.5 0.4 0.4 0.3 Swiss franc 0.1 0.9 0.6 0.1 0.1 0.5 0.7 0.7 0.7 0.6 U.S.dollars 37.8 33.4 21.8 28.6 41.0 31.6 30.2 27.2 28.5 23.4 Multiple currency 5.5 8.4 22.7 21.3 7.5 6.3 5.8 4.9 3.8 2.9 Special drawing rights 0.0 0.0 0.3 0.1 0.2 0.2 0.2 0.2 0.2 0.2 All other currencies 23.7 23.5 21.2 20.0 19.8 23.1 24.7 17.6 17.6 17.6 535 TUNISIA (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 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 -150 -384 1,023 -1,255 259 2,051 2,580 Net flows on debt 42 265 292 568 -721 969 -442 782 1,026 1,218 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 .. .. 351 -584 345 -148 -409 -470 731 1,156 Residual .. .. 79 -134 -8 201 -404 -53 294 206 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.5 6.2 6.9 5.2 4.0 2.8 4.0 4.1 5.1 4.2 Maturity (years) 27.8 18.4 14.3 17.8 19.2 18.2 17.4 17.9 14.5 18.2 Grace period (years) 6.4 5.4 3.8 9.9 5.4 5.2 8.7 5.9 6.3 11.3 Grant element (%) 48.1 26.6 18.0 31.5 38.2 43.8 39.7 34.6 28.6 39.1 Official creditors Interest (%) 2.7 5.0 6.0 4.0 3.3 2.0 4.5 4.4 3.7 3.5 Maturity (years) 32.6 21.2 18.0 18.6 19.6 19.3 16.9 19.4 17.8 19.3 Grace period (years) 7.7 6.5 5.0 5.0 5.6 4.5 5.6 4.3 4.8 4.7 Grant element (%) 57.4 35.4 25.9 37.7 43.3 48.9 35.2 34.9 37.5 40.8 Private creditors Interest (%) 6.3 9.6 8.1 6.6 6.2 7.1 3.5 3.3 6.5 4.9 Maturity (years) 11.0 10.7 9.4 16.9 17.6 12.6 17.8 12.3 11.3 17.3 Grace period (years) 1.9 2.4 2.1 15.7 4.5 8.7 11.6 11.9 7.8 17.1 Grant element (%) 15.1 2.8 7.3 24.1 21.3 18.2 43.8 33.8 19.9 37.6 Memorandum items Commitments 144 777 799 1,525 1,156 1,798 1,439 2,619 1,903 1,269 Official creditors 112 567 462 829 888 1,503 684 2,071 943 594 Private creditors 32 210 337 696 268 295 756 548 960 675 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 1,805 1,428 886 531 304 168 77 45 23 9 Principal 2,002 1,697 1,802 1,650 1,303 1,475 1,478 1,081 1,490 1,092 Interest 655 627 588 546 484 443 382 331 268 203 Official creditors Disbursements 1,550 1,315 858 521 304 168 77 45 23 9 Principal 1,090 1,066 1,052 1,108 1,075 1,013 996 825 726 639 Interest 329 334 328 310 282 251 220 186 159 135 Bilateral creditors Disbursements 566 371 204 116 58 26 11 3 2 1 Principal 483 418 384 365 332 298 279 212 179 166 Interest 92 89 83 75 66 58 50 42 37 33 Multilateral creditors Disbursements 984 944 654 405 246 142 66 42 21 8 Principal 607 649 668 743 742 715 717 613 547 473 Interest 237 246 245 234 216 194 170 144 122 102 Private creditors Disbursements 255 113 28 9 0 0 0 0 0 0 Principal 912 631 750 542 228 462 482 256 764 453 Interest 326 293 260 236 202 192 163 145 109 68 Commercial banks Disbursements 197 88 19 4 0 0 0 0 0 0 Principal 89 96 76 65 57 55 381 35 35 32 Interest 38 39 36 34 32 30 28 15 14 12 Other private Disbursements 59 25 9 5 0 0 0 0 0 0 Principal 823 534 675 477 171 407 101 221 729 421 Interest 288 254 224 202 170 162 135 130 96 55 536 TURKEY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 2,746 19,131 49,424 84,785 97,143 102,242 117,335 113,351 131,185 145,662 Long-term debt (LDOD) 1,888 15,575 39,924 66,197 75,538 77,880 84,247 82,889 92,675 98,558 Public and publicly guaranteed 1,846 15,040 38,870 47,513 50,197 50,755 56,419 54,237 60,220 64,758 Private nonguaranteed 42 535 1,054 18,683 25,340 27,124 27,828 28,652 32,455 33,799 Use of IMF credit 74 1,054 0 594 388 891 4,176 14,117 22,086 24,092 Short-term debt 784 2,501 9,500 17,994 21,217 23,472 28,912 16,345 16,424 23,013 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 13,932 5,966 5,446 5,567 5,160 5,024 5,613 TOTAL DEBT FLOWS Disbursements 407 3,115 5,243 10,595 11,572 21,476 26,580 24,288 35,170 20,514 Long-term debt 332 2,475 5,243 10,595 11,572 20,678 23,122 12,963 22,313 18,848 IMF purchases 75 640 0 0 0 797 3,459 11,324 12,857 1,666 Principal repayments 158 750 4,010 7,001 9,269 12,837 13,864 16,180 22,052 21,499 Long-term debt 131 595 3,961 6,974 9,046 12,550 13,777 15,075 15,686 19,787 IMF repurchases 27 155 49 28 223 287 87 1,105 6,366 1,712 Net flows on debt 249 1,259 4,988 4,243 5,525 10,894 18,157 -4,459 13,197 4,904 of which short-term debt 0 -1,106 3,755 649 3,223 2,255 5,440 -12,567 79 4,389 Interest payments (INT) 44 857 3,412 4,912 5,682 5,792 6,867 6,185 5,538 6,684 Long-term debt 44 507 2,891 3,850 4,530 4,534 5,015 5,165 4,276 5,188 IMF charges 0 51 4 29 25 11 52 432 813 596 Short-term debt 0 299 517 1,033 1,127 1,247 1,800 588 450 900 Net transfers on debt 204 401 1,576 -669 -157 5,102 11,289 -10,644 7,659 -1,780 Total debt service paid (TDS) 203 1,607 7,422 11,914 14,952 18,629 20,731 22,365 27,590 28,183 Long-term debt 176 1,102 6,852 10,824 13,576 17,083 18,792 20,240 19,961 24,975 IMF repurchases and charges 27 206 53 57 248 299 139 1,536 7,179 2,308 Short-term debt (interest only) 0 299 517 1,033 1,127 1,247 1,800 588 450 900 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 300 2,083 2,859 4,492 3,020 9,459 10,903 1,201 8,030 1,776 Net flow of long-term debt (ex. IMF) 201 1,880 1,282 3,622 2,526 8,129 9,345 -2,112 6,627 -939 Foreign direct investment (net) 58 18 684 805 940 783 982 3,266 1,038 1,562 Portfolio equity flows 0 0 89 8 -518 428 489 -79 -16 1,009 Grants (excluding technical coop.) 41 185 804 58 72 119 87 126 381 144 Memo: technical coop. grants 14 38 148 177 129 130 85 89 96 137 official net resource flows 257 1,423 1,023 -76 -63 -533 1,081 307 606 -1,073 private net resource flows 43 660 1,836 4,568 3,083 9,992 9,822 894 7,425 2,849 NET TRANSFERS 256 1,545 -193 439 -1,838 4,612 5,609 -4,273 3,376 -3,882 Interest on long-term debt 44 507 2,891 3,850 4,530 4,534 5,015 5,165 4,276 5,188 Profit remittances on FDI 0 31 161 203 328 313 279 309 379 471 Memo: official net transfers 220 1,212 -20 -775 -871 -1,227 403 -406 28 -1,595 private net transfers 36 333 -173 1,214 -967 5,840 5,206 -3,867 3,348 -2,288 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 18,071 71,885 152,220 192,821 204,578 185,884 200,887 143,674 182,204 238,317 Exports of goods, serv. & inc. (XGS) .. 5,743 25,205 58,117 62,378 52,602 58,546 55,971 59,331 73,267 Worker remit. & comp. of employees 0 2,071 3,246 4,197 5,356 4,529 4,560 2,786 1,936 729 Imports of goods & services (MGS) .. 9,251 28,949 61,069 60,553 54,308 68,579 52,788 61,352 81,470 International reserves (RES) 440 3,298 7,626 19,746 20,568 24,433 23,515 19,911 28,348 35,549 Current account balance .. -3,408 -2,625 -2,638 1,984 -1,344 -9,819 3,390 -1,521 -7,905 4. DEBT INDICATORS EDT / XGS (%) .. 333.1 196.1 145.9 155.7 194.4 200.4 202.5 221.1 198.8 EDT / GNI (%) 15.2 26.6 32.5 44.0 47.5 55.0 58.4 78.9 72.0 61.1 TDS / XGS (%) .. 28.0 29.4 20.5 24.0 35.4 35.4 40.0 46.5 38.5 INT / XGS (%) .. 14.9 13.5 8.5 9.1 11.0 11.7 11.1 9.3 9.1 INT / GNI (%) 0.2 1.2 2.2 2.5 2.8 3.1 3.4 4.3 3.0 2.8 RES / EDT (%) 16.0 17.2 15.4 23.3 21.2 23.9 20.0 17.6 21.6 24.4 RES / MGS (months) .. 4.3 3.2 3.9 4.1 5.4 4.1 4.5 5.5 5.2 Short-term / EDT (%) 28.5 13.1 19.2 21.2 21.8 23.0 24.6 14.4 12.5 15.8 Concessional / EDT (%) 52.4 20.4 15.1 6.7 6.0 5.4 4.3 3.7 3.5 3.5 Multilateral / EDT (%) 13.9 11.2 19.5 7.8 6.7 5.3 4.8 5.4 5.1 4.5 537 TURKEY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 1,888 15,575 39,924 66,197 75,538 77,880 84,247 82,889 92,675 98,558 Public and publicly guaranteed 1,846 15,040 38,870 47,513 50,197 50,755 56,419 54,237 60,220 64,758 Official creditors 1,766 9,636 18,150 13,738 14,581 12,931 13,171 12,767 13,680 13,377 Multilateral 383 2,149 9,627 6,606 6,469 5,434 5,672 6,078 6,658 6,567 Concessional 110 242 825 691 604 529 468 271 257 267 Bilateral 1,383 7,487 8,523 7,132 8,112 7,497 7,499 6,689 7,021 6,810 Concessional 1,328 3,661 6,625 4,991 5,266 5,022 4,530 3,894 4,334 4,784 Private creditors 81 5,405 20,720 33,775 35,616 37,824 43,248 41,469 46,541 51,381 Bonds 20 64 4,976 15,075 14,978 17,766 21,993 20,800 23,130 27,014 Commercial banks 8 4,112 13,403 15,321 17,381 17,381 19,411 19,117 22,014 23,279 Other private 53 1,229 2,341 3,379 3,258 2,678 1,844 1,552 1,397 1,088 Private nonguaranteed 42 535 1,054 18,683 25,340 27,124 27,828 28,652 32,455 33,799 Bonds 0 0 16 124 794 1,338 1,784 1,652 1,882 1,529 Commercial banks and other 42 535 1,038 18,559 24,546 25,786 26,044 27,000 30,572 32,271 Memo: IBRD 53 1,158 6,272 3,587 3,446 2,902 3,634 4,707 5,367 5,214 IDA 83 189 157 118 112 107 101 95 89 83 DISBURSEMENTS 332 2,475 5,243 10,595 11,572 20,678 23,122 12,963 22,313 18,848 Public and publicly guaranteed 331 2,400 4,700 8,231 6,597 9,605 14,241 6,725 7,462 7,205 Official creditors 310 1,618 2,138 1,806 1,698 976 2,764 2,246 1,792 884 Multilateral 125 476 1,083 539 426 447 1,505 1,793 1,161 445 Concessional 7 10 12 44 3 8 1 11 0 25 Bilateral 185 1,142 1,056 1,268 1,272 529 1,259 453 631 439 Concessional 177 801 900 379 278 237 362 148 370 273 Private creditors 21 782 2,561 6,425 4,899 8,629 11,477 4,479 5,670 6,321 Bonds 0 0 644 3,711 2,330 5,230 7,114 2,138 3,148 4,507 Commercial banks 0 600 1,435 1,960 2,148 3,227 4,258 2,171 2,390 1,763 Other private 21 182 483 755 420 172 105 170 132 52 Private nonguaranteed 1 75 543 2,364 4,975 11,074 8,881 6,238 14,851 11,643 Bonds 0 0 0 0 670 552 454 0 200 0 Commercial banks and other 1 75 543 2,364 4,305 10,522 8,427 6,238 14,651 11,643 Memo: IBRD 17 313 627 266 271 377 1,291 1,537 1,031 276 IDA 7 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 131 595 3,961 6,974 9,046 12,550 13,777 15,075 15,686 19,787 Public and publicly guaranteed 128 566 3,677 5,737 7,341 5,551 6,301 7,696 6,474 8,484 Official creditors 95 379 1,920 1,940 1,833 1,628 1,770 2,066 1,568 2,101 Multilateral 70 66 825 1,124 983 953 1,044 1,301 676 707 Concessional 22 1 23 139 125 70 32 182 25 27 Bilateral 24 314 1,094 816 850 675 726 764 892 1,394 Concessional 18 77 364 531 391 406 440 407 412 429 Private creditors 34 186 1,758 3,797 5,509 3,923 4,531 5,630 4,907 6,383 Bonds 0 1 47 1,685 3,201 2,019 1,869 2,507 2,553 2,939 Commercial banks 1 154 1,204 1,459 1,661 1,248 1,808 2,614 1,993 2,983 Other private 32 31 508 652 646 656 853 509 361 461 Private nonguaranteed 3 29 283 1,237 1,705 6,998 7,476 7,379 9,211 11,303 Bonds 0 0 0 50 0 0 0 124 0 431 Commercial banks and other 3 29 283 1,187 1,705 6,998 7,476 7,255 9,211 10,872 Memo: IBRD 3 45 620 726 678 610 486 432 437 496 IDA 0 1 4 6 6 6 6 6 6 6 NET FLOWS ON DEBT 201 1,880 1,282 3,622 2,526 8,129 9,345 -2,112 6,627 -939 Public and publicly guaranteed 203 1,834 1,022 2,495 -744 4,053 7,940 -971 988 -1,279 Official creditors 216 1,238 219 -134 -135 -652 994 180 224 -1,217 Multilateral 55 410 258 -586 -557 -506 461 491 485 -262 Concessional -15 9 -11 -96 -122 -63 -31 -171 -25 -2 Bilateral 160 828 -39 452 422 -146 533 -311 -261 -955 Concessional 158 724 535 -152 -113 -170 -78 -259 -42 -156 Private creditors -13 596 804 2,628 -609 4,705 6,946 -1,151 763 -62 Bonds 0 -1 597 2,025 -871 3,210 5,245 -369 594 1,568 Commercial banks -1 446 231 501 487 1,979 2,450 -443 397 -1,220 Other private -11 151 -25 102 -226 -484 -748 -340 -228 -409 Private nonguaranteed -2 46 260 1,127 3,270 4,075 1,405 -1,141 5,639 340 Bonds 0 0 0 -50 670 552 454 -124 200 -431 Commercial banks and other -2 46 260 1,177 2,600 3,523 951 -1,017 5,439 771 Memo: IBRD 15 267 6 -461 -408 -233 806 1,106 594 -220 IDA 7 -1 -4 -6 -6 -6 -6 -6 -6 -6 538 TURKEY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 44 507 2,891 3,850 4,530 4,534 5,015 5,165 4,276 5,188 Public and publicly guaranteed 42 487 2,830 2,967 3,211 2,990 3,481 3,848 3,643 3,933 Official creditors 37 211 1,043 699 808 694 678 713 578 522 Multilateral 11 127 688 466 519 407 373 413 338 294 Concessional 2 4 30 24 22 14 13 11 9 8 Bilateral 26 84 355 233 290 288 305 300 240 228 Concessional 25 33 172 154 139 142 137 112 105 103 Private creditors 5 276 1,787 2,268 2,403 2,295 2,803 3,135 3,065 3,411 Bonds 1 4 383 993 1,173 1,141 1,598 1,847 1,929 2,255 Commercial banks 1 250 1,204 1,052 1,000 954 1,069 1,167 1,051 1,082 Other private 3 21 200 223 230 200 136 122 85 74 Private nonguaranteed 2 20 61 883 1,319 1,544 1,533 1,317 632 1,255 Bonds 0 0 1 13 12 86 126 195 183 189 Commercial banks and other 2 20 60 870 1,307 1,458 1,407 1,122 450 1,065 Memo: IBRD 3 88 511 273 245 243 237 291 271 232 IDA 1 1 1 1 1 1 1 1 1 1 NET TRANSFERS ON DEBT 156 1,373 -1,609 -228 -2,004 3,595 4,330 -7,277 2,351 -6,127 Public and publicly guaranteed 161 1,347 -1,808 -472 -3,956 1,063 4,459 -4,819 -2,655 -5,212 Official creditors 178 1,027 -824 -832 -943 -1,347 315 -532 -354 -1,739 Multilateral 44 283 -431 -1,052 -1,075 -912 88 78 148 -556 Concessional -17 5 -41 -120 -143 -77 -44 -183 -33 -10 Bilateral 134 744 -394 220 132 -434 227 -611 -501 -1,183 Concessional 134 691 363 -305 -252 -311 -215 -370 -147 -259 Private creditors -18 320 -983 360 -3,013 2,410 4,143 -4,286 -2,302 -3,473 Bonds -1 -5 214 1,033 -2,044 2,069 3,647 -2,215 -1,334 -687 Commercial banks -2 196 -973 -551 -513 1,024 1,381 -1,609 -654 -2,302 Other private -15 130 -225 -121 -456 -684 -885 -462 -314 -483 Private nonguaranteed -5 26 199 244 1,951 2,532 -129 -2,458 5,007 -915 Bonds 0 0 -1 -63 658 466 328 -319 17 -620 Commercial banks and other -5 26 200 307 1,293 2,065 -456 -2,139 4,990 -294 Memo: IBRD 12 179 -505 -733 -653 -476 569 815 323 -453 IDA 7 -2 -5 -7 -7 -7 -7 -7 -7 -7 DEBT SERVICE (LTDS) 176 1,102 6,852 10,824 13,576 17,083 18,792 20,240 19,961 24,975 Public and publicly guaranteed 170 1,053 6,507 8,703 10,553 8,541 9,782 11,544 10,118 12,417 Official creditors 132 591 2,963 2,639 2,641 2,323 2,448 2,778 2,146 2,623 Multilateral 81 193 1,514 1,591 1,501 1,360 1,417 1,714 1,013 1,001 Concessional 24 5 53 163 147 84 45 194 33 35 Bilateral 51 398 1,449 1,048 1,139 963 1,031 1,064 1,133 1,622 Concessional 43 110 537 685 530 548 577 519 516 532 Private creditors 38 462 3,545 6,065 7,912 6,219 7,334 8,766 7,972 9,794 Bonds 1 5 430 2,678 4,375 3,160 3,467 4,353 4,482 5,194 Commercial banks 2 405 2,408 2,511 2,661 2,202 2,877 3,781 3,044 4,065 Other private 35 52 707 876 876 856 990 631 446 535 Private nonguaranteed 6 49 344 2,120 3,024 8,542 9,009 8,696 9,844 12,558 Bonds 0 0 1 63 12 86 126 319 183 620 Commercial banks and other 6 49 343 2,057 3,012 8,456 8,883 8,377 9,661 11,937 Memo: IBRD 6 133 1,132 999 924 853 723 723 708 729 IDA 1 3 5 7 7 7 7 7 7 7 UNDISBURSED DEBT 857 3,706 8,563 6,939 8,268 11,455 10,377 9,297 9,953 8,854 Official creditors 753 2,938 4,823 3,344 3,337 6,182 5,111 5,234 6,001 4,795 Private creditors 104 768 3,740 3,596 4,931 5,273 5,265 4,063 3,951 4,058 Memorandum items Concessional LDOD 1,438 3,903 7,450 5,682 5,870 5,551 4,998 4,166 4,591 5,051 Variable rate LDOD 58 4,122 13,577 30,253 36,119 36,772 40,707 41,761 46,666 47,071 Public sector LDOD 1,839 14,956 38,570 47,455 50,154 50,728 56,401 54,233 60,220 64,712 Private sector LDOD 49 620 1,354 18,741 25,384 27,151 27,846 28,656 32,455 33,846 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 25.7 25.5 26.0 Deutsche mark 17.6 17.0 17.4 21.3 22.8 19.2 14.4 .. .. .. French franc 3.2 5.6 1.6 1.5 1.3 1.2 1.0 .. .. .. Japanese yen 0.0 4.0 12.1 18.6 15.7 14.8 12.6 9.3 8.5 6.8 Pound sterling 6.0 3.8 0.8 0.9 1.0 0.9 0.8 0.7 0.6 0.2 Swiss franc 1.6 8.6 5.2 1.6 1.1 0.7 0.3 0.2 0.3 0.3 U.S.dollars 49.3 43.5 40.0 49.2 51.5 51.7 57.4 63.2 64.2 66.0 Multiple currency 9.1 8.1 18.9 3.5 3.1 2.5 1.9 0.7 0.6 0.5 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 13.2 9.4 4.0 3.5 3.5 9.0 11.6 0.2 0.2 0.2 539 TURKEY (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 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 4,956 12,358 5,099 15,093 -3,985 17,834 14,477 Net flows on debt 249 1,259 4,988 4,243 5,525 10,894 18,157 -4,459 13,197 4,904 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 -2,899 2,091 -1,158 -2,016 -1,838 4,332 5,831 Residual .. .. 985 3,612 4,741 -4,637 -1,047 2,313 305 3,042 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.6 8.3 8.4 7.5 6.2 7.8 8.2 6.6 6.2 7.6 Maturity (years) 19.0 16.4 10.2 8.0 7.8 10.0 11.6 9.7 9.4 8.6 Grace period (years) 4.8 5.1 4.6 5.0 4.1 4.4 7.7 4.3 4.8 6.1 Grant element (%) 37.5 17.4 9.2 9.8 14.4 10.7 5.7 17.9 17.0 11.5 Official creditors Interest (%) 3.4 7.1 6.7 6.7 7.1 5.2 6.9 4.3 3.4 4.0 Maturity (years) 19.6 18.3 17.0 11.2 12.2 15.0 15.1 14.8 14.8 17.8 Grace period (years) 4.9 5.7 7.3 4.2 4.2 3.9 5.0 5.0 5.1 5.5 Grant element (%) 39.1 22.9 23.4 16.0 15.6 27.6 17.9 32.7 36.4 36.8 Private creditors Interest (%) 5.5 14.4 9.4 7.6 6.0 9.0 8.5 8.6 7.6 7.9 Maturity (years) 13.7 7.5 6.5 7.4 6.5 7.8 10.8 5.4 6.7 7.9 Grace period (years) 3.1 1.9 3.2 5.1 4.1 4.7 8.3 3.6 4.6 6.2 Grant element (%) 22.7 -9.6 1.5 8.6 14.1 3.1 2.7 5.4 7.3 9.6 Memorandum items Commitments 489 2,925 4,628 7,899 7,307 11,909 14,490 6,767 7,944 6,886 Official creditors 440 2,426 1,624 1,228 1,660 3,686 2,778 3,106 2,647 483 Private creditors 49 499 3,004 6,671 5,647 8,223 11,711 3,660 5,297 6,403 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 4,609 2,296 992 451 208 135 63 44 25 18 Principal 18,701 16,903 11,459 9,417 8,671 5,625 5,755 3,278 2,908 1,722 Interest 5,837 5,116 4,275 3,686 3,070 2,496 2,120 1,606 1,357 1,231 Official creditors Disbursements 1,990 1,226 679 395 208 135 63 44 25 18 Principal 1,677 1,698 1,630 1,567 1,451 1,518 1,279 1,144 1,045 979 Interest 464 448 414 374 330 287 232 194 160 129 Bilateral creditors Disbursements 618 390 195 103 34 21 4 0 0 0 Principal 938 841 708 678 621 706 494 394 353 338 Interest 203 188 168 150 132 115 86 75 64 55 Multilateral creditors Disbursements 1,371 837 484 292 174 114 59 44 25 18 Principal 740 858 922 888 830 813 786 750 691 641 Interest 261 259 246 224 198 172 145 119 96 74 Private creditors Disbursements 2,619 1,070 313 56 0 0 0 0 0 0 Principal 17,024 15,205 9,829 7,850 7,219 4,107 4,476 2,133 1,864 743 Interest 5,373 4,669 3,862 3,313 2,740 2,209 1,888 1,412 1,197 1,101 Commercial banks Disbursements 2,542 1,045 304 56 0 0 0 0 0 0 Principal 2,261 1,957 1,882 1,810 1,198 681 593 482 396 385 Interest 1,013 990 936 875 831 795 768 745 725 706 Other private Disbursements 76 25 9 1 0 0 0 0 0 0 Principal 14,763 13,248 7,946 6,040 6,021 3,426 3,883 1,651 1,468 359 Interest 4,360 3,679 2,926 2,437 1,909 1,414 1,120 667 472 395 540 TURKMENISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 1,771 2,259 .. .. .. .. .. Long-term debt (LDOD) .. .. .. 1,242 1,748 .. .. .. .. .. Public and publicly guaranteed .. .. .. 1,242 1,731 .. .. .. .. .. Private nonguaranteed .. .. .. 0 16 .. .. .. .. .. Use of IMF credit .. .. .. 0 0 0 0 0 0 0 Short-term debt .. .. .. 529 511 312 234 388 350 301 of which interest arrears on LDOD .. .. .. 9 9 .. .. .. .. .. Official creditors .. .. .. 3 4 .. .. .. .. .. Private creditors .. .. .. 6 5 .. .. .. .. .. Memo: principal arrears on LDOD .. .. .. 73 115 .. .. .. .. .. Official creditors .. .. .. 37 54 .. .. .. .. .. Private creditors .. .. .. 36 61 .. .. .. .. .. Memo: export credits .. .. .. 483 236 530 694 878 673 535 TOTAL DEBT FLOWS Disbursements .. .. .. 986 685 .. .. .. .. .. Long-term debt .. .. .. 986 685 .. .. .. .. .. IMF purchases .. .. .. 0 0 .. .. .. .. .. Principal repayments .. .. .. 196 219 .. .. .. .. .. Long-term debt .. .. .. 196 219 .. .. .. .. .. IMF repurchases .. .. .. 0 0 .. .. .. .. .. Net flows on debt .. .. .. 1,039 449 .. .. .. .. .. of which short-term debt .. .. .. 248 -18 .. .. .. .. .. Interest payments (INT) .. .. .. 68 92 .. .. .. .. .. Long-term debt .. .. .. 46 66 .. .. .. .. .. IMF charges .. .. .. 0 0 .. .. .. .. .. Short-term debt .. .. .. 22 26 .. .. .. .. .. Net transfers on debt .. .. .. 971 357 .. .. .. .. .. Total debt service paid (TDS) .. .. .. 263 311 .. .. .. .. .. Long-term debt .. .. .. 242 285 .. .. .. .. .. IMF repurchases and charges .. .. .. 0 0 .. .. .. .. .. Short-term debt (interest only) .. .. .. 22 26 .. .. .. .. .. 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 903 535 .. .. .. .. .. Net flow of long-term debt (ex. IMF) .. .. .. 791 466 .. .. .. .. .. Foreign direct investment (net) .. .. .. 108 62 .. .. .. .. .. Portfolio equity flows .. .. .. 0 0 .. .. .. .. .. Grants (excluding technical coop.) .. .. .. 5 7 .. .. .. .. .. Memo: technical coop. grants .. .. .. 8 17 .. .. .. .. .. official net resource flows .. .. .. 33 130 .. .. .. .. .. private net resource flows .. .. .. 870 405 .. .. .. .. .. NET TRANSFERS .. .. .. 850 445 .. .. .. .. .. Interest on long-term debt .. .. .. 46 66 .. .. .. .. .. Profit remittances on FDI .. .. .. 7 24 .. .. .. .. .. Memo: official net transfers .. .. .. 24 123 .. .. .. .. .. private net transfers .. .. .. 826 322 .. .. .. .. .. 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 2,535 2,638 .. .. .. .. .. Exports of goods, serv. & inc. (XGS) .. .. .. 1,203 978 .. .. .. .. .. Worker remit. & comp. of employees .. .. .. 0 0 .. .. .. .. .. Imports of goods & services (MGS) .. .. .. 1,752 1,939 .. .. .. .. .. International reserves (RES) .. .. .. 1,256 1,376 .. .. .. .. .. Current account balance .. .. .. -580 -935 .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 147.3 231.0 .. .. .. .. .. EDT / GNI (%) .. .. .. 69.9 85.6 .. .. .. .. .. TDS / XGS (%) .. .. .. 21.9 31.8 .. .. .. .. .. INT / XGS (%) .. .. .. 5.6 9.4 .. .. .. .. .. INT / GNI (%) .. .. .. 2.7 3.5 .. .. .. .. .. RES / EDT (%) .. .. .. 70.9 60.9 .. .. .. .. .. RES / MGS (months) .. .. .. 8.6 8.5 .. .. .. .. .. Short-term / EDT (%) .. .. .. 29.9 22.6 .. .. .. .. .. Concessional / EDT (%) .. .. .. 0.0 0.0 .. .. .. .. .. Multilateral / EDT (%) .. .. .. 1.1 1.6 .. .. .. .. .. 541 TURKMENISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 1,242 1,748 .. .. .. .. .. Public and publicly guaranteed .. .. .. 1,242 1,731 .. .. .. .. .. Official creditors .. .. .. 160 285 .. .. .. .. .. Multilateral .. .. .. 19 37 .. .. .. .. .. Concessional .. .. .. 0 0 .. .. .. .. .. Bilateral .. .. .. 141 247 .. .. .. .. .. Concessional .. .. .. 38 118 .. .. .. .. .. Private creditors .. .. .. 1,083 1,446 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks .. .. .. 89 59 .. .. .. .. .. Other private .. .. .. 994 1,387 .. .. .. .. .. Private nonguaranteed .. .. .. 0 16 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks and other .. .. .. 0 16 .. .. .. .. .. Memo: IBRD .. .. .. 6 9 9 28 30 31 30 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 986 685 .. .. .. .. .. Public and publicly guaranteed .. .. .. 986 685 .. .. .. .. .. Official creditors .. .. .. 57 133 .. .. .. .. .. Multilateral .. .. .. 16 18 .. .. .. .. .. Concessional .. .. .. 0 0 .. .. .. .. .. Bilateral .. .. .. 41 115 .. .. .. .. .. Concessional .. .. .. 20 70 .. .. .. .. .. Private creditors .. .. .. 930 553 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks .. .. .. 130 0 .. .. .. .. .. Other private .. .. .. 800 553 .. .. .. .. .. Private nonguaranteed .. .. .. 0 0 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks and other .. .. .. 0 0 .. .. .. .. .. Memo: IBRD .. .. .. 3 2 0 20 3 2 0 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 196 219 .. .. .. .. .. Public and publicly guaranteed .. .. .. 196 216 .. .. .. .. .. Official creditors .. .. .. 28 9 .. .. .. .. .. Multilateral .. .. .. 0 0 .. .. .. .. .. Concessional .. .. .. 0 0 .. .. .. .. .. Bilateral .. .. .. 28 9 .. .. .. .. .. Concessional .. .. .. 0 0 .. .. .. .. .. Private creditors .. .. .. 167 206 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks .. .. .. 41 30 .. .. .. .. .. Other private .. .. .. 127 177 .. .. .. .. .. Private nonguaranteed .. .. .. 0 3 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks and other .. .. .. 0 3 .. .. .. .. .. Memo: IBRD .. .. .. 0 0 0 1 1 2 2 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 791 466 .. .. .. .. .. Public and publicly guaranteed .. .. .. 791 469 .. .. .. .. .. Official creditors .. .. .. 28 123 .. .. .. .. .. Multilateral .. .. .. 16 18 .. .. .. .. .. Concessional .. .. .. 0 0 .. .. .. .. .. Bilateral .. .. .. 12 105 .. .. .. .. .. Concessional .. .. .. 20 70 .. .. .. .. .. Private creditors .. .. .. 762 346 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks .. .. .. 89 -30 .. .. .. .. .. Other private .. .. .. 673 376 .. .. .. .. .. Private nonguaranteed .. .. .. 0 -3 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks and other .. .. .. 0 -3 .. .. .. .. .. Memo: IBRD .. .. .. 3 2 0 20 2 1 -2 IDA .. .. .. 0 0 0 0 0 0 0 542 TURKMENISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 46 66 .. .. .. .. .. Public and publicly guaranteed .. .. .. 46 66 .. .. .. .. .. Official creditors .. .. .. 9 7 .. .. .. .. .. Multilateral .. .. .. 1 2 .. .. .. .. .. Concessional .. .. .. 0 0 .. .. .. .. .. Bilateral .. .. .. 7 5 .. .. .. .. .. Concessional .. .. .. 1 2 .. .. .. .. .. Private creditors .. .. .. 37 59 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks .. .. .. 2 5 .. .. .. .. .. Other private .. .. .. 35 54 .. .. .. .. .. Private nonguaranteed .. .. .. 0 1 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks and other .. .. .. 0 1 .. .. .. .. .. Memo: IBRD .. .. .. 0 0 1 1 2 1 1 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 745 400 .. .. .. .. .. Public and publicly guaranteed .. .. .. 745 404 .. .. .. .. .. Official creditors .. .. .. 20 116 .. .. .. .. .. Multilateral .. .. .. 15 16 .. .. .. .. .. Concessional .. .. .. 0 0 .. .. .. .. .. Bilateral .. .. .. 5 100 .. .. .. .. .. Concessional .. .. .. 19 68 .. .. .. .. .. Private creditors .. .. .. 725 288 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks .. .. .. 87 -34 .. .. .. .. .. Other private .. .. .. 638 322 .. .. .. .. .. Private nonguaranteed .. .. .. 0 -4 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks and other .. .. .. 0 -4 .. .. .. .. .. Memo: IBRD .. .. .. 3 2 -1 18 1 0 -2 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 242 285 .. .. .. .. .. Public and publicly guaranteed .. .. .. 242 281 .. .. .. .. .. Official creditors .. .. .. 37 16 .. .. .. .. .. Multilateral .. .. .. 1 2 .. .. .. .. .. Concessional .. .. .. 0 0 .. .. .. .. .. Bilateral .. .. .. 36 15 .. .. .. .. .. Concessional .. .. .. 1 2 .. .. .. .. .. Private creditors .. .. .. 205 265 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks .. .. .. 43 34 .. .. .. .. .. Other private .. .. .. 162 231 .. .. .. .. .. Private nonguaranteed .. .. .. 0 4 .. .. .. .. .. Bonds .. .. .. 0 0 .. .. .. .. .. Commercial banks and other .. .. .. 0 4 .. .. .. .. .. Memo: IBRD .. .. .. 0 0 1 2 2 3 2 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 1,038 597 .. .. .. .. .. Official creditors .. .. .. 423 312 .. .. .. .. .. Private creditors .. .. .. 615 285 .. .. .. .. .. Memorandum items Concessional LDOD .. .. .. 38 118 .. .. .. .. .. Variable rate LDOD .. .. .. 937 1,386 .. .. .. .. .. Public sector LDOD .. .. .. 1,242 1,731 .. .. .. .. .. Private sector LDOD .. .. .. 0 16 .. .. .. .. .. 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. .. .. .. Deutsche mark .. .. .. 9.9 14.4 .. .. .. .. .. French franc .. .. .. 0.0 0.0 .. .. .. .. .. Japanese yen .. .. .. 1.1 5.9 .. .. .. .. .. Pound sterling .. .. .. 0.0 0.0 .. .. .. .. .. Swiss franc .. .. .. 0.0 0.0 .. .. .. .. .. U.S.dollars .. .. .. 88.3 79.2 .. .. .. .. .. Multiple currency .. .. .. 0.7 0.5 .. .. .. .. .. Special drawing rights .. .. .. 0.0 0.0 .. .. .. .. .. All other currencies .. .. .. 0.1 0.0 .. .. .. .. .. 543 TURKMENISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 0 .. .. .. .. .. Debt stock rescheduled .. .. .. 0 0 .. .. .. .. .. Principal rescheduled .. .. .. 0 0 .. .. .. .. .. Official .. .. .. 0 0 .. .. .. .. .. Private .. .. .. 0 0 .. .. .. .. .. Interest rescheduled .. .. .. 0 0 .. .. .. .. .. Official .. .. .. 0 0 .. .. .. .. .. Private .. .. .. 0 0 .. .. .. .. .. Debt forgiven .. .. .. 0 0 .. .. .. .. .. Memo: interest forgiven .. .. .. 0 0 .. .. .. .. .. Debt stock reduction .. .. .. 0 0 .. .. .. .. .. of which debt buyback .. .. .. 0 0 .. .. .. .. .. 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. .. 1,020 488 .. .. .. .. .. Net flows on debt .. .. .. 1,039 449 .. .. .. .. .. Net change in interest arrears .. .. .. -6 0 .. .. .. .. .. Interest capitalized .. .. .. 0 0 .. .. .. .. .. Debt forgiveness or reduction .. .. .. 0 0 .. .. .. .. .. Cross-currency valuation .. .. .. -9 11 .. .. .. .. .. Residual .. .. .. -3 28 .. .. .. .. .. 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 5.8 6.7 .. .. .. .. .. Maturity (years) .. .. .. 7.6 5.6 .. .. .. .. .. Grace period (years) .. .. .. 2.2 2.1 .. .. .. .. .. Grant element (%) .. .. .. 13.8 9.7 .. .. .. .. .. Official creditors Interest (%) .. .. .. 4.3 0.0 .. .. .. .. .. Maturity (years) .. .. .. 15.7 0.0 .. .. .. .. .. Grace period (years) .. .. .. 4.4 0.0 .. .. .. .. .. Grant element (%) .. .. .. 32.1 0.0 .. .. .. .. .. Private creditors Interest (%) .. .. .. 6.3 6.7 .. .. .. .. .. Maturity (years) .. .. .. 5.4 5.6 .. .. .. .. .. Grace period (years) .. .. .. 1.5 2.1 .. .. .. .. .. Grant element (%) .. .. .. 8.7 9.7 .. .. .. .. .. Memorandum items Commitments .. .. .. 1,324 218 .. .. .. .. .. Official creditors .. .. .. 286 0 .. .. .. .. .. Private creditors .. .. .. 1,039 218 .. .. .. .. .. 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 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 .. .. .. .. .. .. .. .. .. .. 544 UGANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 152 687 2,582 3,884 3,917 3,498 3,497 3,731 3,991 4,553 Long-term debt (LDOD) 152 535 2,160 3,376 3,385 2,994 3,051 3,305 3,576 4,168 Public and publicly guaranteed 152 535 2,160 3,376 3,385 2,994 3,051 3,305 3,576 4,168 Private nonguaranteed 0 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 89 282 394 398 372 316 275 257 236 Short-term debt 0 63 140 114 134 132 129 151 158 148 of which interest arrears on LDOD 0 19 83 46 62 54 58 78 74 73 Official creditors 0 10 32 38 53 52 56 77 73 73 Private creditors 0 9 51 8 9 2 2 2 2 0 Memo: principal arrears on LDOD 0 82 215 215 215 109 124 187 207 198 Official creditors 0 30 93 148 160 93 108 164 186 198 Private creditors 0 52 122 67 55 16 16 23 21 0 Memo: export credits 0 0 270 129 102 58 72 65 31 24 TOTAL DEBT FLOWS Disbursements 26 161 372 350 224 209 230 355 163 331 Long-term debt 26 83 293 291 174 174 219 344 162 325 IMF purchases 0 78 79 60 50 35 12 11 2 6 Principal repayments 5 45 109 117 121 97 48 33 45 56 Long-term debt 5 32 65 60 67 61 26 18 26 32 IMF repurchases 0 13 43 58 54 36 21 15 19 25 Net flows on debt 22 130 269 244 106 119 177 324 129 266 of which short-term debt 0 14 6 11 3 6 -6 1 11 -9 Interest payments (INT) 5 12 36 44 32 34 26 18 25 27 Long-term debt 5 3 18 38 26 28 21 12 23 25 IMF charges 0 3 13 2 2 2 2 1 1 1 Short-term debt 0 5 5 4 4 4 4 4 1 1 Net transfers on debt 17 118 233 201 74 84 151 306 104 238 Total debt service paid (TDS) 9 57 145 161 153 131 74 50 71 84 Long-term debt 9 36 84 98 93 89 47 30 49 57 IMF repurchases and charges 0 16 56 60 56 38 23 16 20 26 Short-term debt (interest only) 0 5 5 4 4 4 4 4 1 1 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 27 112 485 748 675 633 880 851 743 1,005 Net flow of long-term debt (ex. IMF) 22 51 227 231 107 113 192 326 135 294 Foreign direct investment (net) 4 0 0 175 210 140 161 151 187 194 Portfolio equity flows 0 0 0 0 0 0 0 0 0 1 Grants (excluding technical coop.) 1 61 257 342 358 379 527 373 421 516 Memo: technical coop. grants 14 21 91 151 125 110 131 139 156 178 official net resource flows 17 68 468 574 467 494 721 696 551 803 private net resource flows 10 44 16 174 208 139 159 155 192 202 NET TRANSFERS 23 109 466 699 632 588 841 773 650 902 Interest on long-term debt 5 3 18 38 26 28 21 12 23 25 Profit remittances on FDI 0 0 0 10 16 17 19 66 71 78 Memo: official net transfers 14 66 451 536 442 466 701 685 529 778 private net transfers 9 43 15 163 190 122 140 87 121 124 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,245 1,237 4,227 6,253 6,526 5,952 5,747 5,540 5,742 6,166 Exports of goods, serv. & inc. (XGS) .. 331 178 798 737 947 954 1,056 1,111 1,180 Worker remit. & comp. of employees 0 0 0 0 0 233 238 483 373 295 Imports of goods & services (MGS) .. 450 734 1,767 1,954 1,571 1,574 1,685 1,783 1,968 International reserves (RES) 57 3 44 633 725 763 808 983 934 1,080 Current account balance .. -83 -263 -316 -364 -293 -359 -340 -342 -316 4. DEBT INDICATORS EDT / XGS (%) .. 207.8 1,452.4 486.8 531.3 369.3 366.4 353.5 359.3 385.8 EDT / GNI (%) 12.2 55.5 61.1 62.1 60.0 58.8 60.8 67.4 69.5 73.8 TDS / XGS (%) .. 17.3 81.4 20.2 20.8 13.8 7.8 4.7 6.4 7.1 INT / XGS (%) .. 3.6 20.2 5.5 4.4 3.6 2.7 1.7 2.3 2.3 INT / GNI (%) 0.4 1.0 0.8 0.7 0.5 0.6 0.5 0.3 0.4 0.4 RES / EDT (%) 37.3 0.4 1.7 16.3 18.5 21.8 23.1 26.4 23.4 23.7 RES / MGS (months) .. 0.1 0.7 4.3 4.5 5.8 6.2 7.0 6.3 6.6 Short-term / EDT (%) 0.0 9.1 5.4 2.9 3.4 3.8 3.7 4.0 4.0 3.3 Concessional / EDT (%) 71.3 37.0 56.2 76.7 80.3 80.9 83.4 82.0 85.6 87.6 Multilateral / EDT (%) 12.6 11.5 49.2 62.0 62.2 73.0 75.3 75.7 79.4 83.1 545 UGANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 152 535 2,160 3,376 3,385 2,994 3,051 3,305 3,576 4,168 Public and publicly guaranteed 152 535 2,160 3,376 3,385 2,994 3,051 3,305 3,576 4,168 Official creditors 127 291 1,826 3,296 3,319 2,968 3,027 3,272 3,545 4,152 Multilateral 19 79 1,270 2,409 2,436 2,555 2,634 2,823 3,170 3,782 Concessional 13 63 1,129 2,332 2,372 2,485 2,578 2,777 3,105 3,673 Bilateral 108 212 556 887 883 413 393 449 376 370 Concessional 95 191 322 647 772 345 338 282 310 315 Private creditors 25 244 335 80 66 26 24 33 30 17 Bonds 10 0 4 4 4 4 4 4 4 0 Commercial banks 14 23 89 13 12 11 9 12 4 4 Other private 1 221 242 63 50 11 11 17 22 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 6 1 34 0 0 0 0 0 0 0 IDA 13 46 935 1,954 1,947 2,043 2,115 2,310 2,576 3,061 DISBURSEMENTS 26 83 293 291 174 174 219 344 162 325 Public and publicly guaranteed 26 83 293 291 174 174 219 344 162 325 Official creditors 19 18 254 291 174 174 219 340 156 318 Multilateral 5 7 219 280 169 168 218 338 136 318 Concessional 5 2 215 261 167 166 217 338 135 282 Bilateral 14 11 36 10 5 6 0 2 21 0 Concessional 14 11 23 9 3 5 0 0 20 0 Private creditors 7 65 38 0 0 0 0 4 5 8 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 6 17 4 0 0 0 0 4 0 0 Other private 2 49 34 0 0 0 0 0 5 8 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 1 199 216 113 132 190 298 109 260 PRINCIPAL REPAYMENTS 5 32 65 60 67 61 26 18 26 32 Public and publicly guaranteed 5 32 65 60 67 61 26 18 26 32 Official creditors 3 11 44 58 65 59 25 17 26 31 Multilateral 0 1 19 30 46 27 9 14 21 26 Concessional 0 0 4 18 28 12 7 7 17 19 Bilateral 3 10 25 28 19 32 16 3 4 5 Concessional 3 2 4 18 13 29 10 3 3 4 Private creditors 1 21 22 1 2 2 1 1 1 1 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 1 0 14 1 1 2 1 1 1 1 Other private 0 21 8 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 0 1 4 0 0 0 0 0 0 0 IDA 0 0 2 9 5 4 3 5 14 16 NET FLOWS ON DEBT 22 51 227 231 107 113 192 326 135 294 Public and publicly guaranteed 22 51 227 231 107 113 192 326 135 294 Official creditors 16 7 211 232 109 115 194 323 131 287 Multilateral 5 5 200 250 123 141 209 324 114 292 Concessional 5 1 211 243 139 154 209 330 117 263 Bilateral 11 1 11 -18 -14 -26 -15 -1 16 -5 Concessional 11 9 19 -10 -10 -25 -10 -3 17 -4 Private creditors 6 44 16 -1 -2 -1 -1 3 5 7 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 5 17 -10 -1 -1 -1 -1 3 -1 -1 Other private 2 28 26 0 -1 0 0 0 5 8 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 1 198 208 108 128 187 293 96 244 546 UGANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 5 3 18 38 26 28 21 12 23 25 Public and publicly guaranteed 5 3 18 38 26 28 21 12 23 25 Official creditors 3 2 17 38 24 28 20 10 22 25 Multilateral 0 1 13 22 19 17 10 10 20 23 Concessional 0 0 6 17 17 14 9 10 19 22 Bilateral 3 1 4 16 5 11 11 1 2 2 Concessional 2 1 1 8 3 5 7 1 2 1 Private creditors 1 1 1 0 2 0 0 2 0 0 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 1 0 1 0 2 0 0 2 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 2 0 0 0 0 0 0 0 IDA 0 0 5 14 12 10 6 9 15 18 NET TRANSFERS ON DEBT 17 47 209 193 81 85 172 313 113 268 Public and publicly guaranteed 17 47 209 193 81 85 172 313 113 268 Official creditors 13 5 194 195 85 87 173 312 108 262 Multilateral 5 4 188 228 104 124 199 314 94 269 Concessional 5 1 205 226 122 139 201 320 98 241 Bilateral 8 1 6 -34 -19 -37 -26 -2 14 -7 Concessional 9 9 19 -18 -13 -30 -18 -4 15 -5 Private creditors 5 43 15 -2 -4 -2 -2 1 4 7 Bonds -1 0 0 0 0 0 0 0 0 0 Commercial banks 4 17 -10 -2 -3 -2 -2 1 -1 -1 Other private 2 26 25 0 -1 0 0 0 5 8 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 0 193 194 95 118 181 284 81 227 DEBT SERVICE (LTDS) 9 36 84 98 93 89 47 30 49 57 Public and publicly guaranteed 9 36 84 98 93 89 47 30 49 57 Official creditors 7 13 61 96 89 87 45 28 48 56 Multilateral 1 3 31 52 65 44 19 24 41 49 Concessional 0 1 10 35 45 27 16 17 37 41 Bilateral 6 10 29 44 24 43 26 4 7 7 Concessional 4 3 5 27 16 34 18 4 5 5 Private creditors 2 22 23 2 4 2 2 3 1 1 Bonds 1 0 0 0 0 0 0 0 0 0 Commercial banks 2 0 15 2 3 2 2 3 1 1 Other private 0 22 8 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 1 6 0 0 0 0 0 0 0 IDA 0 1 7 22 17 14 9 14 29 33 UNDISBURSED DEBT 47 161 844 689 738 816 699 912 1,178 1,111 Official creditors 44 143 821 688 713 790 670 887 1,158 1,099 Private creditors 3 19 23 0 25 26 29 25 20 12 Memorandum items Concessional LDOD 108 254 1,451 2,979 3,143 2,830 2,916 3,058 3,415 3,988 Variable rate LDOD 4 7 49 77 83 101 84 154 64 63 Public sector LDOD 150 531 2,157 3,371 3,380 2,989 3,047 3,300 3,572 4,164 Private sector LDOD 1 4 3 5 5 5 5 5 4 4 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 1.8 2.2 2.8 Deutsche mark 6.5 8.0 0.7 0.2 0.2 0.2 0.1 .. .. .. French franc 0.2 6.3 3.5 0.3 0.3 0.3 0.2 .. .. .. Japanese yen 0.3 0.7 0.3 1.4 1.6 2.0 1.8 1.4 1.5 1.4 Pound sterling 73.2 20.5 6.7 1.9 1.0 1.1 0.6 0.4 0.1 0.0 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 67.7 66.4 60.6 62.5 66.3 65.3 66.8 Multiple currency 4.1 2.3 21.8 10.8 9.6 10.3 9.5 8.3 8.1 7.7 Special drawing rights 0.0 0.0 2.4 7.3 9.0 11.0 11.0 9.9 10.2 9.4 All other currencies 8.8 8.3 11.3 10.3 11.9 14.5 14.4 12.0 12.6 12.0 547 UGANDA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 16 0 149 19 35 0 0 24 Debt stock rescheduled .. .. 0 0 10 18 38 0 1 10 Principal rescheduled .. .. 4 0 133 0 0 0 0 8 Official .. .. 3 0 133 0 0 0 0 2 Private .. .. 0 0 0 0 0 0 0 6 Interest rescheduled .. .. 1 0 15 0 0 0 0 1 Official .. .. 1 0 15 0 0 0 0 0 Private .. .. 0 0 0 0 0 0 0 1 Debt forgiven .. .. 51 0 3 6 13 24 17 26 Memo: interest forgiven .. .. 1 0 524 4 11 9 3 5 Debt stock reduction .. .. 0 0 185 0 165 0 108 9 of which debt buyback .. .. 0 0 85 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 406 199 33 -419 -1 234 260 562 Net flows on debt 22 130 269 244 106 119 177 324 129 266 Net change in interest arrears .. .. 28 -3 16 -8 3 20 -4 -1 Interest capitalized .. .. 1 0 15 0 0 0 0 1 Debt forgiveness or reduction .. .. -51 0 -103 -7 -179 -24 -125 -35 Cross-currency valuation .. .. 201 -111 -187 -65 -150 -122 224 291 Residual .. .. -43 69 186 -458 148 36 35 41 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 3.9 4.9 1.0 0.8 0.7 0.8 1.0 0.8 0.8 0.7 Maturity (years) 28.4 26.2 33.0 43.0 38.5 40.3 39.2 39.7 38.4 47.0 Grace period (years) 6.7 6.0 9.0 9.7 10.7 10.1 7.7 11.3 9.6 10.3 Grant element (%) 46.3 40.0 68.4 79.8 80.7 80.3 74.9 79.9 77.8 82.6 Official creditors Interest (%) 3.2 2.7 1.1 0.8 0.8 0.8 0.8 0.8 0.8 0.7 Maturity (years) 33.8 38.2 36.5 43.0 39.5 40.4 40.0 39.7 38.4 47.0 Grace period (years) 8.0 8.2 9.9 9.7 10.1 10.2 7.9 11.3 9.6 10.3 Grant element (%) 55.5 62.0 74.9 79.8 80.1 80.7 76.7 79.9 77.8 82.6 Private creditors Interest (%) 6.9 8.2 0.5 0.0 0.2 7.0 7.5 0.0 8.0 0.0 Maturity (years) 5.3 7.8 1.3 0.0 30.5 21.5 8.2 0.0 2.2 0.0 Grace period (years) 0.8 2.4 0.7 0.0 16.0 5.0 2.8 0.0 0.7 0.0 Grant element (%) 7.2 6.4 8.8 0.0 86.3 19.4 9.6 0.0 2.3 0.0 Memorandum items Commitments 12 198 440 200 236 343 145 658 373 245 Official creditors 10 120 397 200 212 341 141 658 373 245 Private creditors 2 78 43 0 25 2 4 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 201 215 185 151 125 85 59 40 23 13 Principal 82 86 93 97 100 105 110 120 132 141 Interest 34 34 34 34 34 34 33 33 32 31 Official creditors Disbursements 193 212 185 151 125 85 59 40 23 13 Principal 82 85 92 97 100 104 109 120 132 141 Interest 34 34 34 34 34 34 33 33 32 31 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 12 9 10 10 10 9 9 9 7 6 Interest 3 3 2 2 2 2 2 2 1 1 Multilateral creditors Disbursements 193 212 185 151 125 85 59 40 23 13 Principal 70 76 82 87 90 95 100 111 125 135 Interest 31 31 31 32 32 32 31 31 30 30 Private creditors Disbursements 8 4 0 0 0 0 0 0 0 0 Principal 1 1 1 1 0 0 1 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 1 1 1 1 0 0 1 0 0 0 Interest 0 0 0 0 0 0 0 0 0 0 Other private Disbursements 8 4 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 0 548 UKRAINE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 11,133 13,077 13,951 12,190 12,713 13,478 16,309 Long-term debt (LDOD) .. .. .. 7,642 9,802 10,829 9,670 10,060 11,024 13,242 Public and publicly guaranteed .. .. .. 7,015 8,972 9,590 8,142 8,099 8,272 8,893 Private nonguaranteed .. .. .. 627 830 1,238 1,528 1,961 2,752 4,350 Use of IMF credit .. .. .. 2,402 2,795 2,806 2,073 1,911 1,876 1,836 Short-term debt .. .. .. 1,089 479 315 447 742 578 1,230 of which interest arrears on LDOD .. .. .. 43 53 78 183 149 8 158 Official creditors .. .. .. 10 0 0 25 17 0 0 Private creditors .. .. .. 33 53 78 159 132 8 158 Memo: principal arrears on LDOD .. .. .. 235 156 345 567 611 351 259 Official creditors .. .. .. 139 0 0 143 294 282 0 Private creditors .. .. .. 96 156 345 424 317 69 259 Memo: export credits .. .. .. 889 114 104 406 632 763 1,004 TOTAL DEBT FLOWS Disbursements .. .. .. 1,775 3,634 2,073 1,638 2,148 2,861 4,596 Long-term debt .. .. .. 1,490 3,251 1,435 1,387 1,778 2,861 4,596 IMF purchases .. .. .. 285 382 638 251 370 0 0 Principal repayments .. .. .. 687 1,449 2,124 2,952 1,645 2,617 3,151 Long-term debt .. .. .. 687 1,344 1,568 2,103 1,185 2,434 2,948 IMF repurchases .. .. .. 0 105 557 849 460 182 202 Net flows on debt .. .. .. 1,730 1,566 -240 -1,287 833 222 1,796 of which short-term debt .. .. .. 643 -620 -189 26 329 -23 350 Interest payments (INT) .. .. .. 669 575 677 709 648 627 535 Long-term debt .. .. .. 527 421 545 573 540 550 474 IMF charges .. .. .. 102 115 110 122 87 55 35 Short-term debt .. .. .. 40 39 22 14 21 22 26 Net transfers on debt .. .. .. 1,062 991 -917 -1,996 185 -406 -1,261 Total debt service paid (TDS) .. .. .. 1,356 2,023 2,801 3,661 2,293 3,244 3,686 Long-term debt .. .. .. 1,214 1,764 2,113 2,676 1,724 2,984 3,422 IMF repurchases and charges .. .. .. 102 220 667 971 547 238 238 Short-term debt (interest only) .. .. .. 40 39 22 14 21 22 26 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 1,836 3,063 618 -14 867 -717 1,499 Net flow of long-term debt (ex. IMF) .. .. .. 802 1,908 -132 -716 593 427 1,648 Foreign direct investment (net) .. .. .. 623 743 496 595 792 693 1,424 Portfolio equity flows .. .. .. 248 227 129 -193 -734 -1,958 -1,705 Grants (excluding technical coop.) .. .. .. 163 185 125 299 216 122 132 Memo: technical coop. grants .. .. .. 86 250 439 241 303 371 200 official net resource flows .. .. .. 169 438 417 -765 445 -138 -51 private net resource flows .. .. .. 1,667 2,625 202 751 422 -579 1,550 NET TRANSFERS .. .. .. 1,264 2,577 4 -630 248 -1,371 935 Interest on long-term debt .. .. .. 527 421 545 573 540 550 474 Profit remittances on FDI .. .. .. 45 65 69 43 79 105 90 Memo: official net transfers .. .. .. -116 295 262 -914 268 -298 -186 private net transfers .. .. .. 1,380 2,282 -258 284 -20 -1,074 1,121 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 49,506 41,039 30,712 30,320 37,342 41,787 48,956 Exports of goods, serv. & inc. (XGS) .. .. .. 20,513 17,743 17,156 19,665 21,337 23,649 29,392 Worker remit. & comp. of employees .. .. .. 12 12 18 33 141 209 330 Imports of goods & services (MGS) .. .. .. 22,693 19,821 16,204 19,032 21,307 22,263 28,500 International reserves (RES) .. .. .. 2,359 793 1,094 1,477 3,089 4,414 6,938 Current account balance .. .. .. -1,335 -1,296 1,658 1,481 1,402 3,174 2,891 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 54.3 73.7 81.3 62.0 59.6 57.0 55.5 EDT / GNI (%) .. .. .. 22.5 31.9 45.4 40.2 34.0 32.3 33.3 TDS / XGS (%) .. .. .. 6.6 11.4 16.3 18.6 10.7 13.7 12.5 INT / XGS (%) .. .. .. 3.3 3.2 3.9 3.6 3.0 2.7 1.8 INT / GNI (%) .. .. .. 1.4 1.4 2.2 2.3 1.7 1.5 1.1 RES / EDT (%) .. .. .. 21.2 6.1 7.8 12.1 24.3 32.7 42.5 RES / MGS (months) .. .. .. 1.2 0.5 0.8 0.9 1.7 2.4 2.9 Short-term / EDT (%) .. .. .. 9.8 3.7 2.3 3.7 5.8 4.3 7.5 Concessional / EDT (%) .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Multilateral / EDT (%) .. .. .. 13.7 15.5 17.1 19.5 20.8 19.2 16.6 549 UKRAINE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 7,642 9,802 10,829 9,670 10,060 11,024 13,242 Public and publicly guaranteed .. .. .. 7,015 8,972 9,590 8,142 8,099 8,272 8,893 Official creditors .. .. .. 4,422 4,749 6,171 5,005 5,537 5,529 5,580 Multilateral .. .. .. 1,531 2,024 2,391 2,377 2,638 2,594 2,708 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 2,892 2,725 3,780 2,628 2,899 2,935 2,872 Concessional .. .. .. 212 263 3,361 2,257 2,361 2,327 2,238 Private creditors .. .. .. 2,593 4,223 3,419 3,136 2,561 2,743 3,313 Bonds .. .. .. 1,120 2,644 2,329 2,379 2,211 2,523 3,150 Commercial banks .. .. .. 605 690 452 134 93 62 74 Other private .. .. .. 868 889 639 623 258 157 89 Private nonguaranteed .. .. .. 627 830 1,238 1,528 1,961 2,752 4,350 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 627 830 1,238 1,528 1,961 2,752 4,350 Memo: IBRD .. .. .. 1,111 1,542 1,954 1,991 2,248 2,233 2,271 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 1,490 3,251 1,435 1,387 1,778 2,861 4,596 Public and publicly guaranteed .. .. .. 1,222 2,631 578 183 497 501 1,212 Official creditors .. .. .. 508 524 469 151 489 101 212 Multilateral .. .. .. 452 430 432 129 477 98 208 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 56 94 37 22 12 3 3 Concessional .. .. .. 10 34 11 16 8 1 0 Private creditors .. .. .. 713 2,108 110 32 8 400 1,000 Bonds .. .. .. 0 1,422 0 0 0 399 1,000 Commercial banks .. .. .. 523 509 63 14 0 0 0 Other private .. .. .. 190 176 46 18 8 1 0 Private nonguaranteed .. .. .. 268 620 857 1,204 1,281 2,360 3,385 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 268 620 857 1,204 1,281 2,360 3,385 Memo: IBRD .. .. .. 306 385 422 113 364 45 95 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 687 1,344 1,568 2,103 1,185 2,434 2,948 Public and publicly guaranteed .. .. .. 636 927 798 1,257 413 697 1,038 Official creditors .. .. .. 502 271 178 1,215 260 361 395 Multilateral .. .. .. 1 2 11 70 154 249 224 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 502 269 167 1,145 106 112 171 Concessional .. .. .. 0 0 2 1,100 98 110 128 Private creditors .. .. .. 134 656 620 42 153 337 643 Bonds .. .. .. 0 35 107 33 133 298 555 Commercial banks .. .. .. 3 428 289 2 14 1 1 Other private .. .. .. 130 193 225 7 6 38 88 Private nonguaranteed .. .. .. 52 416 769 845 772 1,737 1,911 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 52 416 769 845 772 1,737 1,911 Memo: IBRD .. .. .. 0 0 2 24 60 121 130 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 802 1,908 -132 -716 593 427 1,648 Public and publicly guaranteed .. .. .. 586 1,704 -220 -1,074 84 -196 174 Official creditors .. .. .. 6 253 291 -1,064 229 -260 -183 Multilateral .. .. .. 452 428 421 59 323 -151 -15 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. -446 -175 -130 -1,123 -94 -108 -167 Concessional .. .. .. 10 34 9 -1,084 -90 -108 -128 Private creditors .. .. .. 580 1,451 -511 -10 -145 64 357 Bonds .. .. .. 0 1,387 -107 -33 -133 101 445 Commercial banks .. .. .. 520 81 -225 12 -14 -1 -1 Other private .. .. .. 60 -17 -179 11 2 -36 -88 Private nonguaranteed .. .. .. 216 204 88 359 509 623 1,474 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 216 204 88 359 509 623 1,474 Memo: IBRD .. .. .. 306 385 420 88 305 -76 -35 IDA .. .. .. 0 0 0 0 0 0 0 550 UKRAINE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 527 421 545 573 540 550 474 Public and publicly guaranteed .. .. .. 463 371 481 502 456 446 322 Official creditors .. .. .. 285 143 155 149 176 160 135 Multilateral .. .. .. 71 93 116 141 134 93 76 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 214 50 38 8 42 67 59 Concessional .. .. .. 7 8 9 3 9 30 15 Private creditors .. .. .. 178 227 326 352 280 286 187 Bonds .. .. .. 99 104 262 344 240 228 177 Commercial banks .. .. .. 11 69 17 8 6 7 2 Other private .. .. .. 68 55 48 0 34 51 8 Private nonguaranteed .. .. .. 64 50 65 71 83 104 152 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 64 50 65 71 83 104 152 Memo: IBRD .. .. .. 59 68 94 118 111 77 62 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 275 1,487 -677 -1,289 53 -123 1,175 Public and publicly guaranteed .. .. .. 123 1,334 -700 -1,576 -373 -642 -148 Official creditors .. .. .. -279 110 137 -1,214 52 -420 -318 Multilateral .. .. .. 381 334 305 -82 188 -244 -91 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. -660 -225 -169 -1,132 -136 -176 -226 Concessional .. .. .. 3 27 1 -1,087 -99 -139 -142 Private creditors .. .. .. 402 1,224 -837 -362 -425 -223 170 Bonds .. .. .. -99 1,284 -369 -377 -373 -127 268 Commercial banks .. .. .. 509 12 -242 4 -19 -8 -3 Other private .. .. .. -8 -72 -226 11 -32 -88 -95 Private nonguaranteed .. .. .. 152 153 23 287 426 519 1,322 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 152 153 23 287 426 519 1,322 Memo: IBRD .. .. .. 247 317 326 -29 193 -153 -97 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 1,214 1,764 2,113 2,676 1,724 2,984 3,422 Public and publicly guaranteed .. .. .. 1,099 1,298 1,279 1,759 870 1,144 1,360 Official creditors .. .. .. 787 414 332 1,365 437 520 529 Multilateral .. .. .. 71 95 127 211 288 342 300 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 716 319 205 1,154 148 179 230 Concessional .. .. .. 7 8 10 1,102 107 140 143 Private creditors .. .. .. 312 884 946 394 433 623 830 Bonds .. .. .. 99 139 369 377 373 526 732 Commercial banks .. .. .. 14 497 305 10 19 8 3 Other private .. .. .. 199 248 272 7 40 89 95 Private nonguaranteed .. .. .. 116 467 834 917 855 1,840 2,062 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 116 467 834 917 855 1,840 2,062 Memo: IBRD .. .. .. 59 68 96 142 171 198 193 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 1,211 1,692 1,213 1,139 833 702 1,056 Official creditors .. .. .. 1,025 1,521 987 957 709 654 1,001 Private creditors .. .. .. 186 170 226 182 124 47 55 Memorandum items Concessional LDOD .. .. .. 212 263 3,361 2,257 2,361 2,327 2,238 Variable rate LDOD .. .. .. 5,670 6,180 4,729 4,962 5,435 6,139 7,737 Public sector LDOD .. .. .. 6,990 8,939 9,566 8,117 8,092 8,268 8,885 Private sector LDOD .. .. .. 651 863 1,263 1,553 1,967 2,756 4,357 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 22.6 23.0 21.5 Deutsche mark .. .. .. 8.6 17.0 12.8 5.5 .. .. .. French franc .. .. .. 0.5 0.5 0.4 0.5 .. .. .. Japanese yen .. .. .. 2.3 1.9 1.9 2.0 1.8 1.9 1.8 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 .. .. .. 58.7 49.6 57.3 53.2 55.3 55.7 62.4 Multiple currency .. .. .. 24.3 20.0 18.3 21.3 20.3 19.3 14.3 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 5.6 10.9 9.2 17.5 0.0 0.0 0.0 551 UKRAINE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 0 82 3,074 2,185 515 167 282 Debt stock rescheduled .. .. .. 0 0 1,895 1,870 5 0 0 Principal rescheduled .. .. .. 0 82 0 252 455 169 282 Official .. .. .. 0 0 0 0 71 27 282 Private .. .. .. 0 82 0 252 384 141 0 Interest rescheduled .. .. .. 0 0 601 8 31 0 0 Official .. .. .. 0 0 601 0 6 0 0 Private .. .. .. 0 0 0 8 25 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 2 0 0 of which debt buyback .. .. .. 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. .. 1,595 1,943 874 -1,760 523 765 2,830 Net flows on debt .. .. .. 1,730 1,566 -240 -1,287 833 222 1,796 Net change in interest arrears .. .. .. 2 10 25 105 -35 -141 151 Interest capitalized .. .. .. 0 0 601 8 31 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 -2 0 0 Cross-currency valuation .. .. .. -354 238 -412 -369 -232 587 659 Residual .. .. .. 217 130 900 -217 -73 98 73 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 5.5 9.1 5.1 7.3 4.0 9.6 6.0 Maturity (years) .. .. .. 4.1 8.0 10.4 15.2 20.1 6.8 13.5 Grace period (years) .. .. .. 1.6 3.3 4.1 4.5 5.6 4.5 8.3 Grant element (%) .. .. .. 8.6 4.6 24.2 14.9 40.1 4.2 25.0 Official creditors Interest (%) .. .. .. 5.7 5.6 6.6 7.3 4.0 3.1 3.0 Maturity (years) .. .. .. 12.3 16.9 11.5 15.2 20.1 18.9 19.8 Grace period (years) .. .. .. 3.3 4.3 2.0 4.5 5.6 5.3 5.3 Grant element (%) .. .. .. 19.6 22.5 13.9 14.9 40.1 45.1 46.3 Private creditors Interest (%) .. .. .. 5.5 11.0 3.4 0.0 0.0 11.0 7.7 Maturity (years) .. .. .. 2.3 3.3 9.2 0.0 0.0 4.3 10.0 Grace period (years) .. .. .. 1.2 2.8 6.3 0.0 0.0 4.3 10.0 Grant element (%) .. .. .. 6.2 -4.9 34.9 0.0 0.0 -4.3 13.3 Memorandum items Commitments .. .. .. 838 3,216 377 157 300 481 1,550 Official creditors .. .. .. 150 1,118 193 157 300 82 550 Private creditors .. .. .. 688 2,099 184 0 0 399 1,000 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 388 170 126 106 83 61 42 29 21 16 Principal 2,314 1,888 1,697 1,510 881 740 623 529 638 1,473 Interest 722 531 399 288 223 176 166 135 124 74 Official creditors Disbursements 356 147 126 106 83 61 42 29 21 16 Principal 520 609 584 540 472 499 481 447 424 399 Interest 131 124 112 100 89 77 64 52 40 30 Bilateral creditors Disbursements 7 3 1 0 0 0 0 0 0 0 Principal 204 278 277 242 207 199 188 177 177 177 Interest 43 40 34 28 23 18 13 10 6 3 Multilateral creditors Disbursements 349 143 125 106 83 61 42 29 21 16 Principal 317 331 306 298 265 300 294 270 247 222 Interest 88 84 78 72 66 59 51 42 34 27 Private creditors Disbursements 32 24 0 0 0 0 0 0 0 0 Principal 1,793 1,279 1,113 970 409 240 142 83 214 1,074 Interest 591 407 287 188 135 99 102 83 84 44 Commercial banks Disbursements 9 0 0 0 0 0 0 0 0 0 Principal 9 0 18 19 18 18 0 0 0 0 Interest 2 2 2 1 1 0 0 0 0 0 Other private Disbursements 23 24 0 0 0 0 0 0 0 0 Principal 1,785 1,279 1,095 952 391 222 142 83 214 1,074 Interest 589 405 285 187 134 99 102 83 84 44 552 URUGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 363 1,660 4,415 6,681 7,571 7,475 8,175 9,690 10,764 11,764 Long-term debt (LDOD) 298 1,338 3,114 4,780 5,401 5,524 6,110 6,618 7,372 7,903 Public and publicly guaranteed 269 1,127 3,045 4,556 5,113 5,084 5,576 6,093 6,879 7,430 Private nonguaranteed 29 211 69 223 288 440 534 524 492 473 Use of IMF credit 18 0 101 0 161 157 149 144 1,793 2,416 Short-term debt 47 322 1,201 1,901 2,009 1,794 1,917 2,929 1,600 1,445 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 0 183 280 144 152 105 57 36 65 TOTAL DEBT FLOWS Disbursements 91 356 358 989 1,366 666 1,089 1,468 2,960 1,023 Long-term debt 50 356 346 989 1,211 666 1,089 1,468 1,326 514 IMF purchases 40 0 12 0 155 0 0 0 1,634 509 Principal repayments 80 130 559 290 684 571 672 872 803 554 Long-term debt 51 130 434 282 684 571 672 872 729 474 IMF repurchases 28 0 124 8 0 0 0 0 74 80 Net flows on debt 11 342 -134 941 790 -120 540 1,608 828 314 of which short-term debt 0 116 66 242 108 -215 123 1,012 -1,329 -155 Interest payments (INT) 17 169 428 451 446 489 635 598 472 318 Long-term debt 17 121 318 344 332 377 505 416 397 223 IMF charges 0 0 16 0 0 6 8 7 24 45 Short-term debt 0 48 93 107 114 106 123 176 51 50 Net transfers on debt -6 173 -562 489 344 -609 -95 1,010 356 -4 Total debt service paid (TDS) 97 299 987 742 1,130 1,060 1,307 1,470 1,275 872 Long-term debt 69 251 753 627 1,016 948 1,176 1,288 1,126 697 IMF repurchases and charges 28 0 141 8 0 6 8 7 98 125 Short-term debt (interest only) 0 48 93 107 114 106 123 176 51 50 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 0 516 -78 841 700 339 699 901 781 331 Net flow of long-term debt (ex. IMF) -1 226 -88 707 527 95 417 596 597 40 Foreign direct investment (net) 0 290 0 126 164 235 274 271 175 275 Portfolio equity flows 0 0 0 0 0 0 0 28 0 0 Grants (excluding technical coop.) 1 0 11 8 9 9 9 6 9 17 Memo: technical coop. grants 3 9 25 26 22 20 15 18 17 18 official net resource flows 10 37 114 260 202 261 145 119 593 294 private net resource flows -10 479 -192 581 498 79 554 782 188 37 NET TRANSFERS -17 395 -396 459 309 -174 105 369 586 99 Interest on long-term debt 17 121 318 344 332 377 505 416 397 223 Profit remittances on FDI 0 0 0 38 58 135 89 116 -202 10 Memo: official net transfers 5 14 54 164 90 130 -2 -28 458 146 private net transfers -23 380 -450 295 219 -304 107 397 128 -47 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 2,359 9,753 8,949 21,396 22,068 20,609 19,806 18,179 12,155 10,781 Exports of goods, serv. & inc. (XGS) .. 1,594 2,417 4,765 4,756 4,288 4,441 4,094 3,165 3,321 Worker remit. & comp. of employees 0 0 0 0 0 0 0 0 36 32 Imports of goods & services (MGS) .. 2,312 2,239 5,126 5,291 4,869 5,035 4,611 2,879 3,309 International reserves (RES) 186 2,401 1,446 2,067 2,587 2,604 2,776 3,099 772 2,087 Current account balance .. -709 186 -287 -476 -508 -566 -488 322 52 4. DEBT INDICATORS EDT / XGS (%) .. 104.1 182.7 140.2 159.2 174.3 184.1 236.7 340.1 354.3 EDT / GNI (%) 15.4 17.0 49.3 31.2 34.3 36.3 41.3 53.3 88.6 109.1 TDS / XGS (%) .. 18.8 40.8 15.6 23.8 24.7 29.4 35.9 40.3 26.3 INT / XGS (%) .. 10.6 17.7 9.5 9.4 11.4 14.3 14.6 14.9 9.6 INT / GNI (%) 0.7 1.7 4.8 2.1 2.0 2.4 3.2 3.3 3.9 3.0 RES / EDT (%) 51.3 144.7 32.7 30.9 34.2 34.8 34.0 32.0 7.2 17.7 RES / MGS (months) .. 12.5 7.7 4.8 5.9 6.4 6.6 8.1 3.2 7.6 Short-term / EDT (%) 12.9 19.4 27.2 28.5 26.5 24.0 23.4 30.2 14.9 12.3 Concessional / EDT (%) 15.6 5.1 2.3 3.5 3.2 3.3 2.6 2.0 1.6 1.4 Multilateral / EDT (%) 17.2 11.0 15.8 19.0 19.6 23.8 23.4 20.9 25.2 27.0 553 URUGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 298 1,338 3,114 4,780 5,401 5,524 6,110 6,618 7,372 7,903 Public and publicly guaranteed 269 1,127 3,045 4,556 5,113 5,084 5,576 6,093 6,879 7,430 Official creditors 126 333 895 1,621 1,880 2,152 2,231 2,302 2,942 3,371 Multilateral 62 182 699 1,268 1,481 1,780 1,915 2,029 2,716 3,174 Concessional 2 20 22 24 23 30 19 18 17 22 Bilateral 64 151 196 353 399 372 315 273 227 197 Concessional 55 64 78 212 220 216 193 179 154 148 Private creditors 143 794 2,150 2,936 3,233 2,932 3,345 3,792 3,937 4,059 Bonds 45 263 567 2,429 2,722 2,467 2,774 3,241 3,456 3,712 Commercial banks 81 502 1,576 484 494 454 552 534 462 330 Other private 16 30 8 23 17 11 18 16 19 17 Private nonguaranteed 29 211 69 223 288 440 534 524 492 473 Bonds 0 0 0 196 260 351 300 300 300 300 Commercial banks and other 29 211 69 28 29 89 234 224 192 173 Memo: IBRD 49 72 359 393 473 476 552 544 703 722 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 50 356 346 989 1,211 666 1,089 1,468 1,326 514 Public and publicly guaranteed 37 293 346 889 1,100 496 927 1,447 1,326 502 Official creditors 20 58 174 376 348 438 298 304 794 502 Multilateral 7 25 90 258 281 420 297 279 793 502 Concessional 1 3 3 0 0 0 0 0 1 0 Bilateral 13 34 85 118 67 18 1 24 1 0 Concessional 5 3 3 39 13 4 1 24 1 0 Private creditors 18 235 171 513 752 58 629 1,144 532 0 Bonds 7 0 164 471 694 37 615 1,070 490 0 Commercial banks 10 230 4 38 58 21 1 72 36 0 Other private 1 4 4 4 0 1 12 2 6 0 Private nonguaranteed 13 63 0 100 110 170 162 21 0 12 Bonds 0 0 0 100 100 100 0 0 0 0 Commercial banks and other 13 63 0 0 10 70 162 21 0 12 Memo: IBRD 2 4 51 50 129 66 134 65 234 97 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 51 130 434 282 684 571 672 872 729 474 Public and publicly guaranteed 47 93 398 279 635 561 608 841 697 443 Official creditors 11 22 71 124 155 186 162 190 210 225 Multilateral 8 9 61 116 117 130 120 136 152 185 Concessional 0 0 1 2 2 2 2 2 2 2 Bilateral 3 12 10 8 38 56 42 54 59 40 Concessional 3 3 2 6 13 12 15 30 36 15 Private creditors 36 71 327 155 479 375 446 651 487 218 Bonds 9 6 180 121 418 322 285 557 373 82 Commercial banks 21 59 143 27 55 47 156 89 111 134 Other private 6 6 5 7 6 6 5 5 3 2 Private nonguaranteed 4 37 36 3 49 9 64 31 32 31 Bonds 0 0 0 0 40 0 47 0 0 0 Commercial banks and other 4 37 36 3 9 9 17 31 32 31 Memo: IBRD 6 6 43 68 64 63 58 72 75 78 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT -1 226 -88 707 527 95 417 596 597 40 Public and publicly guaranteed -10 200 -52 609 466 -65 319 606 629 59 Official creditors 8 37 104 252 193 252 136 114 584 277 Multilateral -1 15 29 142 164 291 178 144 641 317 Concessional 1 3 2 -2 -2 -2 -2 -1 -1 -2 Bilateral 9 21 75 110 29 -39 -41 -30 -57 -40 Concessional 2 0 1 33 0 -8 -14 -6 -34 -15 Private creditors -18 163 -156 357 273 -317 183 492 45 -218 Bonds -2 -6 -16 349 276 -285 331 512 117 -82 Commercial banks -11 171 -139 11 3 -26 -155 -17 -75 -134 Other private -5 -2 -1 -3 -6 -5 7 -3 3 -2 Private nonguaranteed 9 26 -36 97 61 160 98 -10 -32 -19 Bonds 0 0 0 100 60 100 -47 0 0 0 Commercial banks and other 9 26 -36 -3 1 60 145 -10 -32 -19 Memo: IBRD -4 -2 8 -17 65 3 76 -8 158 19 IDA 0 0 0 0 0 0 0 0 0 0 554 URUGUAY (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 17 121 318 344 332 377 505 416 397 223 Public and publicly guaranteed 16 105 312 335 316 351 428 378 364 190 Official creditors 4 23 61 96 112 130 147 147 135 148 Multilateral 3 16 54 85 96 115 134 135 128 144 Concessional 0 0 0 1 0 0 0 0 0 1 Bilateral 1 7 7 11 16 16 13 13 7 4 Concessional 1 2 2 4 3 4 4 5 3 3 Private creditors 12 82 252 238 204 221 281 231 230 41 Bonds 3 30 61 192 163 183 182 187 205 23 Commercial banks 7 50 190 44 39 36 98 42 23 18 Other private 1 2 1 2 2 1 1 2 1 1 Private nonguaranteed 2 17 6 10 17 26 77 38 32 33 Bonds 0 0 0 8 15 21 29 26 26 26 Commercial banks and other 2 17 6 2 2 5 48 12 7 7 Memo: IBRD 2 7 27 28 29 33 42 38 29 28 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT -18 105 -407 362 195 -282 -88 180 200 -183 Public and publicly guaranteed -26 95 -365 275 150 -416 -108 228 264 -131 Official creditors 4 14 43 156 81 122 -10 -34 449 129 Multilateral -4 0 -25 57 68 176 44 9 513 173 Concessional 1 3 1 -2 -2 -2 -2 -2 -1 -3 Bilateral 8 14 68 99 13 -54 -54 -43 -64 -44 Concessional 1 -2 -1 29 -4 -11 -18 -11 -38 -18 Private creditors -30 81 -408 119 69 -538 -98 262 -185 -260 Bonds -5 -36 -77 157 113 -469 149 325 -89 -105 Commercial banks -18 121 -329 -33 -36 -63 -253 -59 -98 -152 Other private -6 -4 -2 -5 -8 -7 6 -4 2 -3 Private nonguaranteed 7 10 -42 88 45 134 21 -47 -64 -52 Bonds 0 0 0 92 45 79 -77 -26 -26 -26 Commercial banks and other 7 10 -42 -4 -1 55 97 -22 -38 -27 Memo: IBRD -6 -9 -19 -45 36 -30 35 -46 129 -9 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 69 251 753 627 1,016 948 1,176 1,288 1,126 697 Public and publicly guaranteed 63 198 711 614 950 913 1,035 1,219 1,062 633 Official creditors 16 44 132 220 267 316 308 337 345 373 Multilateral 11 25 115 202 213 244 253 270 280 329 Concessional 0 1 1 2 2 2 2 2 2 3 Bilateral 5 19 17 19 54 72 55 67 65 44 Concessional 4 5 4 10 17 16 19 35 39 18 Private creditors 48 153 579 394 683 596 727 882 717 260 Bonds 12 36 241 314 581 505 466 745 578 105 Commercial banks 28 109 333 71 94 83 254 131 134 152 Other private 8 8 5 9 8 7 6 6 4 3 Private nonguaranteed 6 54 42 12 66 36 141 68 64 64 Bonds 0 0 0 8 55 21 77 26 26 26 Commercial banks and other 6 54 42 4 11 14 65 43 38 39 Memo: IBRD 8 13 70 96 93 96 100 111 104 107 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 87 519 736 1,269 1,189 812 637 682 1,131 950 Official creditors 79 326 675 1,133 1,145 787 564 676 1,131 950 Private creditors 7 193 61 136 44 26 73 6 0 0 Memorandum items Concessional LDOD 57 84 100 236 243 246 212 197 171 170 Variable rate LDOD 31 474 2,286 2,419 2,511 2,820 3,128 3,104 3,697 3,607 Public sector LDOD 269 1,123 3,042 4,553 5,111 5,083 5,576 6,093 6,879 7,430 Private sector LDOD 29 215 72 227 290 441 534 524 492 473 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 6.7 6.7 6.1 Deutsche mark 2.3 0.3 1.7 4.4 4.4 3.8 0.3 .. .. .. French franc 0.0 3.6 0.3 0.5 0.5 0.4 0.4 .. .. .. Japanese yen 0.0 1.1 5.1 5.8 4.4 4.6 3.4 5.9 4.3 3.4 Pound sterling 4.9 0.2 3.6 1.8 1.5 1.4 1.0 0.8 0.6 0.0 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 65.2 77.1 76.7 80.8 78.2 81.2 84.1 Multiple currency 20.0 14.7 22.5 22.3 12.2 13.1 10.6 8.5 7.2 6.4 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 3.5 0.0 0.0 0.0 555 URUGUAY (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 0 0 3,303 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 3,076 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 96 0 0 0 0 of which debt buyback .. .. 0 0 0 85 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. -33 795 890 -96 701 1,515 1,075 1,000 Net flows on debt 11 342 -134 941 790 -120 540 1,608 828 314 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 -11 0 0 0 0 Cross-currency valuation .. .. 77 -144 76 -12 -94 -86 165 435 Residual .. .. 24 -1 25 47 255 -8 81 250 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.9 10.1 9.1 6.7 7.1 6.3 7.8 6.3 3.2 1.7 Maturity (years) 11.9 15.3 12.9 19.3 12.0 26.0 8.5 12.3 11.4 15.7 Grace period (years) 3.0 5.9 2.4 10.2 6.4 13.1 7.0 7.9 4.5 4.7 Grant element (%) 10.4 1.0 5.1 19.2 16.4 29.0 10.7 20.2 31.0 47.7 Official creditors Interest (%) 7.1 7.9 7.8 6.7 6.7 7.0 7.2 6.3 2.8 1.7 Maturity (years) 16.2 20.6 20.1 17.4 17.6 24.8 14.8 20.8 11.6 15.7 Grace period (years) 3.8 8.0 5.0 4.0 4.4 5.5 5.2 5.3 4.1 4.7 Grant element (%) 15.4 13.5 12.9 18.5 19.1 20.6 15.7 23.8 32.6 47.7 Private creditors Interest (%) 9.5 13.0 9.8 6.8 7.3 5.1 7.8 6.3 8.1 0.0 Maturity (years) 3.9 8.4 8.7 22.2 8.2 28.5 7.7 8.9 9.8 0.0 Grace period (years) 1.6 3.2 1.0 19.4 7.8 27.9 7.2 8.9 9.8 0.0 Grant element (%) 1.1 -15.4 0.6 20.1 14.6 45.3 10.1 18.8 11.3 0.0 Memorandum items Commitments 71 347 339 1,221 1,097 118 759 1,499 1,348 663 Official creditors 46 197 124 730 436 78 83 422 1,250 663 Private creditors 25 150 215 491 661 40 675 1,077 98 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 554 172 109 68 25 10 5 3 2 0 Principal 416 530 876 703 506 498 490 1,005 423 235 Interest 435 425 406 362 336 310 288 250 210 196 Official creditors Disbursements 554 172 109 68 25 10 5 3 2 0 Principal 236 357 540 525 275 275 263 249 244 214 Interest 138 133 124 111 98 88 77 67 58 49 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 24 23 18 18 18 15 12 12 10 6 Interest 4 3 3 3 2 2 2 1 1 1 Multilateral creditors Disbursements 554 172 109 68 25 10 5 3 2 0 Principal 212 334 522 507 257 260 251 237 233 208 Interest 134 130 121 109 96 86 76 66 57 48 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 180 173 336 178 230 223 227 756 180 20 Interest 297 291 283 250 238 222 210 182 152 147 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 120 55 121 12 6 3 3 3 2 1 Interest 12 9 8 1 1 0 0 0 0 0 Other private Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 59 118 215 167 224 219 223 753 178 19 Interest 286 282 275 249 237 222 210 182 152 147 556 UZBEKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. .. 2,858 3,315 4,882 4,577 4,818 4,739 5,006 Long-term debt (LDOD) .. .. .. 2,216 2,935 4,054 4,168 4,237 4,346 4,742 Public and publicly guaranteed .. .. .. 2,108 2,661 3,565 3,764 3,907 4,007 4,250 Private nonguaranteed .. .. .. 109 275 489 405 329 340 492 Use of IMF credit .. .. .. 223 233 202 127 78 62 43 Short-term debt .. .. .. 419 147 626 282 503 331 221 of which interest arrears on LDOD .. .. .. 0 3 3 3 4 85 7 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 3 3 3 4 85 7 Memo: principal arrears on LDOD .. .. .. 0 4 19 17 16 47 34 Official creditors .. .. .. 0 0 0 0 0 0 0 Private creditors .. .. .. 0 4 19 17 16 47 34 Memo: export credits .. .. .. 960 753 708 807 662 587 500 TOTAL DEBT FLOWS Disbursements .. .. .. 502 848 1,455 769 829 454 622 Long-term debt .. .. .. 502 848 1,455 769 829 454 622 IMF purchases .. .. .. 0 0 0 0 0 0 0 Principal repayments .. .. .. 322 208 358 646 636 580 662 Long-term debt .. .. .. 322 208 333 581 592 559 639 IMF repurchases .. .. .. 0 0 25 65 45 22 23 Net flows on debt .. .. .. 507 364 1,576 -221 413 -380 -71 of which short-term debt .. .. .. 328 -275 479 -344 221 -254 -31 Interest payments (INT) .. .. .. 186 143 206 235 227 180 151 Long-term debt .. .. .. 162 127 177 204 206 163 145 IMF charges .. .. .. 10 10 9 9 5 2 1 Short-term debt .. .. .. 14 6 20 23 16 14 6 Net transfers on debt .. .. .. 321 221 1,370 -457 186 -559 -223 Total debt service paid (TDS) .. .. .. 508 351 564 882 863 760 813 Long-term debt .. .. .. 484 335 510 785 798 722 783 IMF repurchases and charges .. .. .. 10 10 34 74 50 24 24 Short-term debt (interest only) .. .. .. 14 6 20 23 16 14 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. .. 376 805 1,268 296 357 23 105 Net flow of long-term debt (ex. IMF) .. .. .. 180 639 1,121 188 237 -104 -17 Foreign direct investment (net) .. .. .. 167 140 121 75 83 65 70 Portfolio equity flows .. .. .. 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. .. 29 25 25 34 37 63 52 Memo: technical coop. grants .. .. .. 32 36 46 39 47 74 87 official net resource flows .. .. .. 62 224 431 295 296 32 26 private net resource flows .. .. .. 314 581 837 2 62 -9 79 NET TRANSFERS .. .. .. 193 651 1,065 58 114 -166 -79 Interest on long-term debt .. .. .. 162 127 177 204 206 163 145 Profit remittances on FDI .. .. .. 21 27 26 35 37 26 40 Memo: official net transfers .. .. .. -42 158 357 220 217 -42 -45 private net transfers .. .. .. 235 493 708 -163 -102 -124 -35 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. .. 14,570 14,888 16,910 13,541 11,196 9,543 9,833 Exports of goods, serv. & inc. (XGS) .. .. .. 3,998 3,414 3,137 3,400 3,223 3,020 3,810 Worker remit. & comp. of employees .. .. .. 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. .. .. 4,610 3,560 3,350 3,198 3,379 3,023 3,247 International reserves (RES) .. .. .. .. .. 1,242 .. .. .. .. Current account balance .. .. .. -584 -103 -164 216 -113 117 882 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 71.5 97.1 155.6 134.6 149.5 156.9 131.4 EDT / GNI (%) .. .. .. 19.6 22.3 28.9 33.8 43.0 49.7 50.9 TDS / XGS (%) .. .. .. 12.7 10.3 18.0 25.9 26.8 25.2 21.3 INT / XGS (%) .. .. .. 4.7 4.2 6.6 6.9 7.0 5.9 4.0 INT / GNI (%) .. .. .. 1.3 1.0 1.2 1.7 2.0 1.9 1.5 RES / EDT (%) .. .. .. .. .. 25.4 .. .. .. .. RES / MGS (months) .. .. .. .. .. 4.5 .. .. .. .. Short-term / EDT (%) .. .. .. 14.7 4.4 12.8 6.2 10.4 7.0 4.4 Concessional / EDT (%) .. .. .. 10.0 13.9 16.5 20.7 20.9 23.5 26.5 Multilateral / EDT (%) .. .. .. 7.3 8.2 7.6 9.9 10.8 12.0 12.5 557 UZBEKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. .. 2,216 2,935 4,054 4,168 4,237 4,346 4,742 Public and publicly guaranteed .. .. .. 2,108 2,661 3,565 3,764 3,907 4,007 4,250 Official creditors .. .. .. 1,259 1,520 1,969 2,117 2,243 2,344 2,566 Multilateral .. .. .. 209 271 373 454 520 570 628 Concessional .. .. .. 0 0 1 2 6 13 18 Bilateral .. .. .. 1,050 1,250 1,596 1,663 1,723 1,774 1,938 Concessional .. .. .. 285 462 807 944 1,002 1,099 1,308 Private creditors .. .. .. 848 1,140 1,596 1,647 1,664 1,662 1,684 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 259 312 358 345 319 344 294 Other private .. .. .. 589 829 1,238 1,302 1,345 1,318 1,390 Private nonguaranteed .. .. .. 109 275 489 405 329 340 492 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 109 275 489 405 329 340 492 Memo: IBRD .. .. .. 155 177 203 217 237 275 298 IDA .. .. .. 0 0 0 0 0 0 0 DISBURSEMENTS .. .. .. 502 848 1,455 769 829 454 622 Public and publicly guaranteed .. .. .. 447 675 1,210 713 769 373 477 Official creditors .. .. .. 191 286 504 409 430 158 175 Multilateral .. .. .. 21 53 110 121 117 78 87 Concessional .. .. .. 0 0 0 1 4 7 4 Bilateral .. .. .. 170 233 395 288 313 80 88 Concessional .. .. .. 116 153 308 266 235 67 84 Private creditors .. .. .. 256 389 705 304 339 215 302 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 176 77 114 59 52 71 16 Other private .. .. .. 80 313 591 246 287 144 286 Private nonguaranteed .. .. .. 55 173 245 56 60 81 145 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 55 173 245 56 60 81 145 Memo: IBRD .. .. .. 13 10 28 31 40 31 17 IDA .. .. .. 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS .. .. .. 322 208 333 581 592 559 639 Public and publicly guaranteed .. .. .. 314 201 303 441 457 488 588 Official creditors .. .. .. 159 87 98 148 172 189 201 Multilateral .. .. .. 67 3 6 29 38 44 52 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 92 85 92 119 133 144 150 Concessional .. .. .. 5 14 24 37 62 69 83 Private creditors .. .. .. 155 114 204 293 285 300 387 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 13 28 57 66 74 61 81 Other private .. .. .. 142 86 148 227 211 239 305 Private nonguaranteed .. .. .. 8 7 30 140 135 71 51 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 8 7 30 140 135 71 51 Memo: IBRD .. .. .. 0 0 1 5 8 9 14 IDA .. .. .. 0 0 0 0 0 0 0 NET FLOWS ON DEBT .. .. .. 180 639 1,121 188 237 -104 -17 Public and publicly guaranteed .. .. .. 133 474 907 272 312 -115 -111 Official creditors .. .. .. 32 198 406 261 258 -31 -26 Multilateral .. .. .. -46 50 104 93 78 33 36 Concessional .. .. .. 0 0 0 1 4 7 4 Bilateral .. .. .. 78 149 302 169 180 -64 -62 Concessional .. .. .. 111 139 285 229 173 -3 1 Private creditors .. .. .. 101 275 501 11 54 -84 -85 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 164 49 57 -7 -22 11 -66 Other private .. .. .. -63 226 444 19 76 -95 -20 Private nonguaranteed .. .. .. 47 166 215 -85 -75 10 94 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 47 166 215 -85 -75 10 94 Memo: IBRD .. .. .. 13 10 27 27 31 21 3 IDA .. .. .. 0 0 0 0 0 0 0 558 UZBEKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. .. 162 127 177 204 206 163 145 Public and publicly guaranteed .. .. .. 157 124 162 181 186 146 136 Official creditors .. .. .. 103 65 74 75 79 74 71 Multilateral .. .. .. 16 14 18 26 32 27 27 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 87 51 56 49 47 47 44 Concessional .. .. .. 55 5 22 31 30 31 32 Private creditors .. .. .. 54 59 88 107 107 72 65 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 12 16 19 27 25 16 15 Other private .. .. .. 42 43 69 79 82 55 49 Private nonguaranteed .. .. .. 5 3 15 22 20 18 9 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 5 3 15 22 20 18 9 Memo: IBRD .. .. .. 10 10 11 12 11 12 12 IDA .. .. .. 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT .. .. .. 18 513 945 -16 31 -268 -161 Public and publicly guaranteed .. .. .. -24 350 745 91 126 -261 -247 Official creditors .. .. .. -71 133 332 186 179 -105 -97 Multilateral .. .. .. -62 35 86 67 46 7 9 Concessional .. .. .. 0 0 0 1 4 7 3 Bilateral .. .. .. -9 98 246 120 133 -112 -106 Concessional .. .. .. 55 133 263 198 144 -34 -32 Private creditors .. .. .. 47 217 413 -95 -53 -156 -150 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 152 34 38 -35 -47 -5 -81 Other private .. .. .. -105 183 374 -61 -6 -150 -69 Private nonguaranteed .. .. .. 42 163 200 -107 -95 -7 85 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 42 163 200 -107 -95 -7 85 Memo: IBRD .. .. .. 3 0 16 15 20 9 -9 IDA .. .. .. 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) .. .. .. 484 335 510 785 798 722 783 Public and publicly guaranteed .. .. .. 471 325 465 622 643 634 723 Official creditors .. .. .. 262 153 172 223 251 263 272 Multilateral .. .. .. 83 17 24 55 71 71 79 Concessional .. .. .. 0 0 0 0 0 0 0 Bilateral .. .. .. 179 136 148 168 180 192 193 Concessional .. .. .. 60 19 46 68 91 101 115 Private creditors .. .. .. 209 172 293 399 392 371 451 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks .. .. .. 24 43 76 93 99 77 97 Other private .. .. .. 184 129 217 306 293 294 355 Private nonguaranteed .. .. .. 13 10 45 163 155 88 60 Bonds .. .. .. 0 0 0 0 0 0 0 Commercial banks and other .. .. .. 13 10 45 163 155 88 60 Memo: IBRD .. .. .. 10 10 12 16 20 21 26 IDA .. .. .. 0 0 0 0 0 0 0 UNDISBURSED DEBT .. .. .. 1,046 1,768 1,761 1,283 1,127 1,333 1,307 Official creditors .. .. .. 759 1,109 1,213 983 816 1,132 1,178 Private creditors .. .. .. 288 660 548 300 311 202 129 Memorandum items Concessional LDOD .. .. .. 285 462 807 945 1,008 1,113 1,326 Variable rate LDOD .. .. .. 1,518 2,013 2,777 2,828 2,891 2,966 3,210 Public sector LDOD .. .. .. 1,881 2,448 3,380 3,607 3,776 3,900 4,140 Private sector LDOD .. .. .. 335 488 674 561 460 446 602 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 16.2 18.4 20.6 Deutsche mark .. .. .. 13.8 14.5 11.4 9.1 .. .. .. French franc .. .. .. 4.3 4.4 3.0 2.4 .. .. .. Japanese yen .. .. .. 8.3 12.3 20.1 21.2 20.7 20.7 21.1 Pound sterling .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Swiss franc .. .. .. 0.1 0.1 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. .. .. 66.2 62.1 58.0 56.7 57.5 54.3 49.7 Multiple currency .. .. .. 7.3 6.5 5.3 4.9 4.4 4.8 4.8 Special drawing rights .. .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. .. 0.0 0.1 2.2 5.7 1.3 1.7 3.9 559 UZBEKISTAN (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. .. 501 0 0 0 0 0 0 Debt stock rescheduled .. .. .. 501 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 .. .. .. 483 457 1,568 -305 241 -79 267 Net flows on debt .. .. .. 507 364 1,576 -221 413 -380 -71 Net change in interest arrears .. .. .. 0 3 0 0 1 81 -78 Interest capitalized .. .. .. 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. .. 0 0 0 0 0 0 0 Cross-currency valuation .. .. .. -95 68 -35 -144 -151 229 279 Residual .. .. .. 71 22 27 61 -22 -10 138 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. .. 6.1 5.3 4.9 6.4 4.5 3.0 3.3 Maturity (years) .. .. .. 11.1 12.5 12.2 14.6 13.0 22.9 14.1 Grace period (years) .. .. .. 2.8 3.0 3.2 3.5 2.9 6.8 2.7 Grant element (%) .. .. .. 17.3 22.3 24.7 19.2 25.0 47.5 30.2 Official creditors Interest (%) .. .. .. 6.0 4.3 3.8 6.0 4.1 3.1 4.5 Maturity (years) .. .. .. 15.3 16.9 17.6 17.9 22.3 26.5 21.2 Grace period (years) .. .. .. 3.9 4.1 5.3 4.4 4.7 7.9 4.9 Grant element (%) .. .. .. 22.2 31.7 37.2 24.0 39.0 53.0 36.0 Private creditors Interest (%) .. .. .. 6.1 6.0 5.8 7.3 4.8 3.0 2.3 Maturity (years) .. .. .. 7.1 8.9 7.9 6.4 6.6 7.2 8.4 Grace period (years) .. .. .. 1.8 2.0 1.5 1.4 1.6 1.9 0.9 Grant element (%) .. .. .. 12.8 14.7 14.6 7.4 15.3 23.2 25.5 Memorandum items Commitments .. .. .. 715 1,346 1,136 315 753 552 394 Official creditors .. .. .. 344 603 505 225 307 449 176 Private creditors .. .. .. 371 743 631 90 446 103 218 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 353 322 223 161 107 71 43 10 7 3 Principal 978 828 727 565 439 360 295 198 180 139 Interest 128 113 100 95 85 76 59 52 46 40 Official creditors Disbursements 275 287 211 159 107 71 43 10 7 3 Principal 397 385 374 259 212 196 202 164 158 130 Interest 75 74 73 70 66 61 56 50 45 39 Bilateral creditors Disbursements 136 137 84 52 28 14 6 1 0 0 Principal 302 284 272 171 127 110 114 75 73 54 Interest 45 40 36 32 28 25 23 20 18 16 Multilateral creditors Disbursements 140 150 127 107 79 57 36 9 7 3 Principal 95 101 101 88 86 86 88 89 85 75 Interest 30 34 36 38 37 36 34 30 27 23 Private creditors Disbursements 78 36 12 3 0 0 0 0 0 0 Principal 581 442 354 306 227 164 93 34 23 9 Interest 53 39 27 25 20 15 3 2 1 1 Commercial banks Disbursements 2 1 0 0 0 0 0 0 0 0 Principal 72 64 54 38 33 16 12 5 1 0 Interest 9 7 5 3 1 1 0 0 0 0 Other private Disbursements 76 35 12 3 0 0 0 0 0 0 Principal 509 378 299 268 193 148 80 28 21 9 Interest 44 32 23 23 18 15 3 2 1 1 560 VANUATU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 38.2 48.7 64.2 65.7 74.5 71.6 90.5 94.8 Long-term debt (LDOD) .. .. 28.6 39.7 55.2 64.5 73.1 70.2 76.5 79.8 Public and publicly guaranteed .. .. 28.6 39.7 55.2 64.5 73.1 70.2 76.5 79.8 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 9.0 9.0 1.1 1.4 1.4 14.0 15.0 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 TOTAL DEBT FLOWS Disbursements .. .. 6.5 0.8 12.1 5.7 14.2 2.8 0.5 0.0 Long-term debt .. .. 6.5 0.8 12.1 5.7 14.2 2.8 0.5 0.0 IMF purchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal repayments .. .. 1.0 0.7 0.5 0.7 0.9 0.8 0.9 1.1 Long-term debt .. .. 1.0 0.7 0.5 0.7 0.9 0.8 0.9 1.1 IMF repurchases .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Net flows on debt .. .. 5.7 4.1 11.6 -2.9 13.6 2.0 12.3 0.0 of which short-term debt .. .. 0.1 4.0 0.0 -7.9 0.3 0.0 12.6 1.0 Interest payments (INT) .. .. 1.5 1.2 0.9 0.9 1.0 0.7 1.0 1.1 Long-term debt .. .. 0.7 0.4 0.4 0.6 0.6 0.7 0.7 0.7 IMF charges .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Short-term debt .. .. 0.7 0.8 0.5 0.3 0.3 0.1 0.3 0.4 Net transfers on debt .. .. 4.2 2.9 10.6 -3.8 12.6 1.2 11.2 -1.1 Total debt service paid (TDS) .. .. 2.4 1.9 1.4 1.6 1.9 1.5 1.9 2.1 Long-term debt .. .. 1.7 1.1 0.9 1.3 1.5 1.5 1.6 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 0.8 0.5 0.3 0.3 0.1 0.3 0.4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 40.7 37.5 39.1 25.9 45.7 28.5 22.7 25.0 Net flow of long-term debt (ex. IMF) .. .. 5.6 0.1 11.6 4.9 13.4 2.0 -0.4 -1.0 Foreign direct investment (net) .. .. 13.1 30.2 20.4 13.4 20.3 18.0 15.0 19.0 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 7.2 7.1 7.6 12.0 8.5 8.0 7.1 Memo: technical coop. grants .. .. 22.2 20.0 22.1 24.1 20.6 19.7 19.6 26.7 official net resource flows .. .. 27.8 7.5 18.7 12.6 25.4 10.5 7.7 6.0 private net resource flows .. .. 12.9 30.1 20.3 13.3 20.3 18.0 15.0 19.0 NET TRANSFERS .. .. 24.8 8.5 18.1 11.6 23.1 13.8 8.6 2.8 Interest on long-term debt .. .. 0.7 0.4 0.4 0.6 0.6 0.7 0.7 0.7 Profit remittances on FDI .. .. 15.2 28.6 20.5 13.7 21.9 14.0 13.4 21.5 Memo: official net transfers .. .. 27.2 7.1 18.3 12.0 24.7 9.8 7.0 5.3 private net transfers .. .. -2.5 1.5 -0.2 -0.4 -1.6 4.0 1.6 -2.5 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 162.6 228.0 226.1 229.0 218.2 216.6 231.3 279.3 Exports of goods, serv. & inc. (XGS) .. .. 112.7 138.5 174.9 168.9 186.7 172.2 124.1 145.9 Worker remit. & comp. of employees .. .. 8.0 16.0 22.0 26.0 35.0 53.0 8.0 9.0 Imports of goods & services (MGS) .. .. 136.5 160.6 162.5 182.6 178.8 172.2 152.4 182.0 International reserves (RES) .. .. 37.7 37.3 44.7 41.4 38.9 37.7 36.5 43.8 Current account balance .. .. -6.2 -19.3 5.8 -13.1 5.0 1.8 -17.7 -29.0 4. DEBT INDICATORS EDT / XGS (%) .. .. 33.9 35.2 36.7 38.9 39.9 41.6 72.9 65.0 EDT / GNI (%) .. .. 23.5 21.4 28.4 28.7 34.1 33.1 39.1 33.9 TDS / XGS (%) .. .. 2.1 1.4 0.8 1.0 1.0 0.9 1.5 1.5 INT / XGS (%) .. .. 1.3 0.9 0.5 0.5 0.5 0.4 0.8 0.7 INT / GNI (%) .. .. 0.9 0.5 0.4 0.4 0.4 0.3 0.4 0.4 RES / EDT (%) .. .. 98.6 76.5 69.6 63.0 52.3 52.6 40.4 46.2 RES / MGS (months) .. .. 3.3 2.8 3.3 2.7 2.6 2.6 2.9 2.9 Short-term / EDT (%) .. .. 25.1 18.5 14.0 1.7 1.9 1.9 15.5 15.8 Concessional / EDT (%) .. .. 60.5 80.1 85.1 97.6 91.4 91.5 78.4 77.4 Multilateral / EDT (%) .. .. 41.6 59.6 69.1 83.4 86.1 86.4 74.8 74.3 561 VANUATU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 28.6 39.7 55.2 64.5 73.1 70.2 76.5 79.8 Public and publicly guaranteed .. .. 28.6 39.7 55.2 64.5 73.1 70.2 76.5 79.8 Official creditors .. .. 27.1 39.6 55.1 64.5 73.1 70.2 76.5 79.8 Multilateral .. .. 15.9 29.0 44.3 54.8 64.1 61.9 67.6 70.4 Concessional .. .. 12.9 29.0 44.3 54.8 59.5 57.4 62.4 64.2 Bilateral .. .. 11.3 10.5 10.8 9.7 8.9 8.4 8.8 9.4 Concessional .. .. 10.3 10.0 10.3 9.3 8.6 8.1 8.6 9.2 Private creditors .. .. 1.5 0.2 0.1 0.0 0.0 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 0.2 0.1 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 .. .. 4.0 13.0 14.1 13.8 12.9 12.2 12.9 13.9 DISBURSEMENTS .. .. 6.5 0.8 12.1 5.7 14.2 2.8 0.5 0.0 Public and publicly guaranteed .. .. 6.5 0.8 12.1 5.7 14.2 2.8 0.5 0.0 Official creditors .. .. 6.5 0.8 12.1 5.7 14.2 2.8 0.5 0.0 Multilateral .. .. 3.3 0.8 12.1 5.7 14.2 2.8 0.5 0.0 Concessional .. .. 3.3 0.8 12.1 5.7 9.6 2.8 0.5 0.0 Bilateral .. .. 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Concessional .. .. 3.1 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 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 0.6 0.6 0.3 0.0 0.0 0.0 0.0 PRINCIPAL REPAYMENTS .. .. 1.0 0.7 0.5 0.7 0.9 0.8 0.9 1.1 Public and publicly guaranteed .. .. 1.0 0.7 0.5 0.7 0.9 0.8 0.9 1.1 Official creditors .. .. 0.8 0.6 0.4 0.7 0.9 0.8 0.9 1.1 Multilateral .. .. 0.5 0.4 0.2 0.5 0.5 0.5 0.6 0.7 Concessional .. .. 0.0 0.2 0.2 0.5 0.5 0.5 0.6 0.6 Bilateral .. .. 0.3 0.2 0.2 0.1 0.4 0.3 0.3 0.4 Concessional .. .. 0.2 0.1 0.1 0.1 0.3 0.3 0.3 0.3 Private creditors .. .. 0.2 0.1 0.1 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 .. .. 0.2 0.1 0.1 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 .. .. 0.0 0.0 0.0 0.2 0.2 0.2 0.2 0.3 NET FLOWS ON DEBT .. .. 5.6 0.1 11.6 4.9 13.4 2.0 -0.4 -1.0 Public and publicly guaranteed .. .. 5.6 0.1 11.6 4.9 13.4 2.0 -0.4 -1.0 Official creditors .. .. 5.8 0.2 11.7 5.0 13.4 2.0 -0.4 -1.0 Multilateral .. .. 2.8 0.4 11.8 5.1 13.7 2.3 -0.1 -0.7 Concessional .. .. 3.3 0.7 11.8 5.1 9.1 2.3 -0.1 -0.6 Bilateral .. .. 3.0 -0.2 -0.2 -0.1 -0.4 -0.3 -0.3 -0.4 Concessional .. .. 3.0 -0.1 -0.1 -0.1 -0.3 -0.3 -0.3 -0.3 Private creditors .. .. -0.2 -0.1 -0.1 -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 .. .. -0.2 -0.1 -0.1 -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 .. .. 0.8 0.5 0.6 0.0 -0.2 -0.2 -0.2 -0.3 562 VANUATU (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 0.7 0.4 0.4 0.6 0.6 0.7 0.7 0.7 Public and publicly guaranteed .. .. 0.7 0.4 0.4 0.6 0.6 0.7 0.7 0.7 Official creditors .. .. 0.6 0.4 0.4 0.6 0.6 0.7 0.7 0.7 Multilateral .. .. 0.2 0.3 0.3 0.5 0.5 0.5 0.6 0.6 Concessional .. .. 0.1 0.2 0.3 0.5 0.5 0.5 0.6 0.6 Bilateral .. .. 0.4 0.2 0.1 0.1 0.1 0.1 0.1 0.1 Concessional .. .. 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 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 .. .. 4.8 -0.3 11.2 4.3 12.7 1.3 -1.1 -1.8 Public and publicly guaranteed .. .. 4.8 -0.3 11.2 4.3 12.7 1.3 -1.1 -1.8 Official creditors .. .. 5.2 -0.2 11.2 4.4 12.7 1.3 -1.1 -1.8 Multilateral .. .. 2.6 0.1 11.5 4.7 13.2 1.8 -0.6 -1.3 Concessional .. .. 3.2 0.4 11.5 4.7 8.6 1.8 -0.6 -1.2 Bilateral .. .. 2.6 -0.3 -0.3 -0.3 -0.5 -0.5 -0.4 -0.5 Concessional .. .. 2.6 -0.2 -0.2 -0.2 -0.4 -0.4 -0.4 -0.4 Private creditors .. .. -0.4 -0.1 -0.1 -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 .. .. -0.4 -0.1 -0.1 -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 .. .. 0.8 0.4 0.5 -0.1 -0.3 -0.3 -0.3 -0.4 DEBT SERVICE (LTDS) .. .. 1.7 1.1 0.9 1.3 1.5 1.5 1.6 1.8 Public and publicly guaranteed .. .. 1.7 1.1 0.9 1.3 1.5 1.5 1.6 1.8 Official creditors .. .. 1.3 1.0 0.8 1.3 1.5 1.5 1.6 1.8 Multilateral .. .. 0.7 0.7 0.5 1.0 1.0 1.0 1.1 1.3 Concessional .. .. 0.1 0.4 0.5 1.0 1.0 1.0 1.1 1.2 Bilateral .. .. 0.7 0.3 0.3 0.3 0.5 0.5 0.4 0.5 Concessional .. .. 0.5 0.2 0.2 0.2 0.4 0.4 0.4 0.4 Private creditors .. .. 0.4 0.1 0.1 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 .. .. 0.4 0.1 0.1 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 .. .. 0.0 0.1 0.1 0.3 0.3 0.3 0.3 0.4 UNDISBURSED DEBT .. .. 17.2 13.1 22.0 13.8 3.4 0.5 0.0 0.0 Official creditors .. .. 17.2 13.1 22.0 13.8 3.4 0.5 0.0 0.0 Private creditors .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Concessional LDOD .. .. 23.1 39.0 54.6 64.1 68.0 65.5 71.0 73.4 Variable rate LDOD .. .. 0.8 0.2 0.1 0.0 0.0 0.0 0.0 0.0 Public sector LDOD .. .. 28.6 39.7 55.2 64.5 73.1 70.2 76.5 79.8 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 .. .. .. .. .. .. .. 12.3 13.1 14.6 Deutsche mark .. .. 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc .. .. 35.7 15.6 11.8 8.5 6.5 .. .. .. 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 .. .. 22.4 46.3 59.9 61.2 56.8 55.2 53.4 54.6 Multiple currency .. .. 30.8 33.6 25.1 27.5 27.8 29.9 31.1 28.6 Special drawing rights .. .. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 All other currencies .. .. 10.5 4.6 3.3 2.8 8.8 2.6 2.4 2.3 563 VANUATU (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 0.0 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 .. .. 7.9 0.9 15.4 1.5 8.8 -2.9 18.9 4.3 Net flows on debt .. .. 5.7 4.1 11.6 -2.9 13.6 2.0 12.3 0.0 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 -3.9 3.2 0.6 -4.1 -4.3 5.8 7.8 Residual .. .. 1.1 0.7 0.6 3.8 -0.6 -0.5 0.9 -3.4 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 0.0 0.0 3.3 0.0 2.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 0.0 39.6 0.0 14.5 0.0 0.0 0.0 Grace period (years) .. .. 0.0 0.0 10.1 0.0 3.5 0.0 0.0 0.0 Grant element (%) .. .. 0.0 0.0 57.7 0.0 44.2 0.0 0.0 0.0 Official creditors Interest (%) .. .. 0.0 0.0 3.3 0.0 2.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 0.0 39.6 0.0 14.5 0.0 0.0 0.0 Grace period (years) .. .. 0.0 0.0 10.1 0.0 3.5 0.0 0.0 0.0 Grant element (%) .. .. 0.0 0.0 57.7 0.0 44.2 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 0 21 0 5 0 0 0 Official creditors .. .. 0 0 21 0 5 0 0 0 Private creditors .. .. 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.6 1.6 1.8 2.0 2.5 3.0 3.1 3.1 3.6 3.6 Interest 0.7 0.7 0.8 0.8 1.2 1.2 1.1 1.1 1.0 1.0 Official creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.6 1.6 1.8 2.0 2.5 3.0 3.1 3.1 3.6 3.6 Interest 0.7 0.7 0.8 0.8 1.2 1.2 1.1 1.1 1.0 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 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.7 0.7 Interest 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 Multilateral creditors Disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Principal 1.2 1.2 1.4 1.7 2.1 2.7 2.8 2.8 2.9 2.9 Interest 0.6 0.6 0.7 0.7 1.2 1.1 1.1 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 0.0 564 VENEZUELA, REPUBLICA BOLIVARIANA de (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 1,422 29,356 33,171 35,718 37,752 37,576 38,152 36,036 33,986 34,851 Long-term debt (LDOD) 954 13,806 28,159 29,855 34,307 34,771 33,880 31,244 29,395 30,506 Public and publicly guaranteed 718 10,625 24,509 27,368 28,350 27,969 27,748 25,229 23,377 24,491 Private nonguaranteed 236 3,181 3,650 2,487 5,957 6,802 6,132 6,015 6,018 6,016 Use of IMF credit 0 0 3,012 1,618 1,225 741 203 0 0 0 Short-term debt 468 15,550 2,000 4,245 2,219 2,063 4,070 4,792 4,590 4,344 of which interest arrears on LDOD 0 15 0 127 100 63 59 49 52 5 Official creditors 0 0 0 10 10 8 7 3 1 2 Private creditors 0 15 0 117 91 55 52 47 51 4 Memo: principal arrears on LDOD 0 37 0 368 256 121 79 5 4 11 Official creditors 0 0 0 77 77 77 68 0 0 0 Private creditors 0 37 0 292 179 44 11 5 3 10 Memo: export credits 0 0 2,386 3,801 1,050 1,277 1,442 1,457 1,087 1,149 TOTAL DEBT FLOWS Disbursements 282 4,761 4,069 7,538 7,278 3,542 2,303 3,043 2,227 6,854 Long-term debt 282 4,761 2,226 7,538 7,278 3,542 2,303 3,043 2,227 6,854 IMF purchases 0 0 1,843 0 0 0 0 0 0 0 Principal repayments 67 2,973 1,749 6,499 3,580 3,252 3,419 4,884 5,208 6,539 Long-term debt 67 2,973 1,749 6,047 3,134 2,801 2,912 4,686 5,208 6,539 IMF repurchases 0 0 0 452 446 452 507 198 0 0 Net flows on debt 215 5,555 2,036 2,572 1,699 171 895 -1,108 -3,186 116 of which short-term debt 0 3,767 -284 1,532 -1,999 -119 2,010 732 -205 -199 Interest payments (INT) 53 3,066 3,242 2,314 2,459 2,485 2,675 2,676 2,244 2,302 Long-term debt 53 1,476 2,993 2,020 2,199 2,317 2,437 2,468 2,114 2,194 IMF charges 0 0 37 93 72 44 28 6 0 0 Short-term debt 0 1,590 212 201 187 124 210 202 130 108 Net transfers on debt 162 2,489 -1,206 258 -760 -2,315 -1,780 -3,785 -5,430 -2,186 Total debt service paid (TDS) 120 6,038 4,991 8,813 6,039 5,738 6,094 7,560 7,452 8,841 Long-term debt 120 4,448 4,742 8,067 5,334 5,118 5,349 7,154 7,322 8,734 IMF repurchases and charges 0 0 37 545 518 496 535 204 0 0 Short-term debt (interest only) 0 1,590 212 201 187 124 210 202 130 108 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 192 1,843 933 9,149 9,344 4,060 3,552 2,072 -2,188 2,950 Net flow of long-term debt (ex. IMF) 215 1,788 477 1,491 4,144 741 -608 -1,642 -2,981 315 Foreign direct investment (net) -23 55 451 6,202 4,985 2,890 4,701 3,683 782 2,520 Portfolio equity flows 0 0 0 1,444 187 417 -574 31 -5 97 Grants (excluding technical coop.) 0 0 5 12 28 12 34 1 16 18 Memo: technical coop. grants 6 19 24 30 21 24 27 39 32 36 official net resource flows 4 18 1,058 140 1,492 321 202 -895 -613 -589 private net resource flows 187 1,825 -126 9,010 7,851 3,739 3,350 2,968 -1,575 3,538 NET TRANSFERS -429 45 -2,284 5,477 4,961 862 -309 -2,279 -6,217 -1,017 Interest on long-term debt 53 1,476 2,993 2,020 2,199 2,317 2,437 2,468 2,114 2,194 Profit remittances on FDI 568 322 224 1,652 2,183 880 1,424 1,884 1,915 1,773 Memo: official net transfers -16 -18 987 -100 1,269 -2 -123 -1,280 -939 -863 private net transfers -413 63 -3,272 5,577 3,692 865 -186 -1,000 -5,278 -154 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 12,865 69,695 47,154 86,187 93,315 101,583 120,123 124,105 92,770 82,420 Exports of goods, serv. & inc. (XGS) 2,833 22,232 21,464 27,606 21,609 24,587 37,760 30,646 29,268 29,354 Worker remit. & comp. of employees 0 0 1 17 17 17 17 19 19 21 Imports of goods & services (MGS) 2,845 17,065 12,883 23,777 25,840 22,408 25,737 28,515 21,512 17,837 International reserves (RES) 1,047 13,360 12,733 17,704 14,729 15,110 15,899 12,264 12,107 20,821 Current account balance -104 4,728 8,279 3,732 -4,432 2,112 11,853 1,983 7,599 11,524 4. DEBT INDICATORS EDT / XGS (%) 50.2 132.0 154.5 129.4 174.7 152.8 101.0 117.6 116.1 118.7 EDT / GNI (%) 11.1 42.1 70.3 41.4 40.5 37.0 31.8 29.0 36.6 42.3 TDS / XGS (%) 4.2 27.2 23.3 31.9 27.9 23.3 16.1 24.7 25.5 30.1 INT / XGS (%) 1.9 13.8 15.1 8.4 11.4 10.1 7.1 8.7 7.7 7.8 INT / GNI (%) 0.4 4.4 6.9 2.7 2.6 2.4 2.2 2.2 2.4 2.8 RES / EDT (%) 73.6 45.5 38.4 49.6 39.0 40.2 41.7 34.0 35.6 59.7 RES / MGS (months) 4.4 9.4 11.9 8.9 6.8 8.1 7.4 5.2 6.8 14.0 Short-term / EDT (%) 32.9 53.0 6.0 11.9 5.9 5.5 10.7 13.3 13.5 12.5 Concessional / EDT (%) 5.8 0.2 0.3 0.2 0.2 0.1 0.2 0.1 0.2 0.3 Multilateral / EDT (%) 17.1 0.8 4.9 7.0 8.2 8.4 8.3 8.9 10.1 9.7 565 VENEZUELA, REPUBLICA BOLIVARIANA de (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 954 13,806 28,159 29,855 34,307 34,771 33,880 31,244 29,395 30,506 Public and publicly guaranteed 718 10,625 24,509 27,368 28,350 27,969 27,748 25,229 23,377 24,491 Official creditors 366 583 1,933 3,885 5,491 5,879 5,924 4,927 4,400 3,891 Multilateral 244 227 1,640 2,492 3,107 3,169 3,158 3,201 3,428 3,391 Concessional 1 53 12 1 0 0 0 0 0 0 Bilateral 122 355 293 1,393 2,384 2,710 2,766 1,726 972 500 Concessional 81 8 73 68 63 49 63 46 57 88 Private creditors 352 10,043 22,577 23,484 22,859 22,090 21,823 20,302 18,978 20,600 Bonds 37 1,261 19,644 19,430 18,581 17,304 16,532 15,877 15,276 16,399 Commercial banks 237 8,159 363 2,678 2,824 3,130 3,377 3,148 3,083 3,940 Other private 78 622 2,569 1,375 1,453 1,656 1,914 1,277 619 261 Private nonguaranteed 236 3,181 3,650 2,487 5,957 6,802 6,132 6,015 6,018 6,016 Bonds 0 0 0 319 2,694 3,895 3,880 4,357 4,271 4,327 Commercial banks and other 236 3,181 3,650 2,168 3,263 2,908 2,252 1,659 1,747 1,689 Memo: IBRD 217 133 974 1,213 1,219 1,129 972 839 670 484 IDA 0 0 0 0 0 0 0 0 0 0 DISBURSEMENTS 282 4,761 2,226 7,538 7,278 3,542 2,303 3,043 2,227 6,854 Public and publicly guaranteed 216 2,870 2,226 6,640 3,368 2,128 2,303 2,543 1,653 5,889 Official creditors 30 88 1,103 600 1,930 869 782 486 597 407 Multilateral 21 3 1,035 176 846 415 399 418 532 357 Concessional 1 2 0 0 0 0 0 0 0 0 Bilateral 9 85 69 425 1,084 453 382 68 65 50 Concessional 0 0 15 0 0 0 24 7 14 32 Private creditors 186 2,782 1,122 6,040 1,438 1,260 1,522 2,057 1,057 5,482 Bonds 0 276 599 4,515 500 0 462 763 212 3,763 Commercial banks 140 2,362 26 943 540 742 639 1,183 777 1,639 Other private 46 144 497 582 397 518 421 111 68 80 Private nonguaranteed 67 1,891 0 898 3,910 1,413 0 500 574 965 Bonds 0 0 0 200 2,450 1,213 0 500 0 0 Commercial banks and other 67 1,891 0 698 1,460 200 0 0 574 965 Memo: IBRD 15 0 840 91 188 119 50 78 42 23 IDA 0 0 0 0 0 0 0 0 0 0 PRINCIPAL REPAYMENTS 67 2,973 1,749 6,047 3,134 2,801 2,912 4,686 5,208 6,539 Public and publicly guaranteed 42 1,738 1,576 5,822 2,694 2,245 2,256 4,072 4,208 5,569 Official creditors 26 69 50 473 466 560 613 1,382 1,225 1,014 Multilateral 13 34 9 271 289 353 356 330 384 473 Concessional 0 5 4 1 1 0 0 0 0 0 Bilateral 13 35 41 201 177 207 257 1,052 841 540 Concessional 4 6 0 25 8 8 7 7 4 5 Private creditors 16 1,668 1,526 5,349 2,228 1,686 1,643 2,690 2,982 4,556 Bonds 1 13 254 4,891 1,467 1,038 1,119 1,018 1,178 3,057 Commercial banks 5 1,324 706 113 430 358 370 960 1,077 1,043 Other private 10 331 566 345 331 290 155 712 727 455 Private nonguaranteed 25 1,235 173 225 440 555 655 613 1,000 970 Bonds 0 0 0 15 75 0 0 20 100 0 Commercial banks and other 25 1,235 173 210 365 555 655 593 900 970 Memo: IBRD 10 23 0 172 179 208 208 211 211 210 IDA 0 0 0 0 0 0 0 0 0 0 NET FLOWS ON DEBT 215 1,788 477 1,491 4,144 741 -608 -1,642 -2,981 315 Public and publicly guaranteed 174 1,132 650 818 674 -117 47 -1,529 -2,555 320 Official creditors 4 18 1,054 128 1,464 309 169 -896 -629 -607 Multilateral 8 -31 1,026 -96 557 63 43 89 148 -116 Concessional 1 -2 -4 -1 -1 0 0 0 0 0 Bilateral -4 50 28 223 907 246 126 -985 -776 -491 Concessional -3 -6 15 -25 -8 -8 17 -1 9 27 Private creditors 169 1,114 -404 691 -791 -426 -122 -633 -1,926 926 Bonds -1 263 345 -376 -967 -1,038 -657 -255 -966 706 Commercial banks 134 1,038 -680 830 110 384 270 222 -300 596 Other private 36 -187 -69 237 67 228 266 -601 -659 -375 Private nonguaranteed 41 656 -173 673 3,470 858 -655 -113 -426 -5 Bonds 0 0 0 185 2,375 1,213 0 480 -100 0 Commercial banks and other 41 656 -173 488 1,095 -355 -655 -593 -326 -5 Memo: IBRD 6 -22 840 -81 9 -90 -158 -133 -169 -187 IDA 0 0 0 0 0 0 0 0 0 0 566 VENEZUELA, REPUBLICA BOLIVARIANA de (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 53 1,476 2,993 2,020 2,199 2,317 2,437 2,468 2,114 2,194 Public and publicly guaranteed 40 1,219 2,593 1,832 1,937 1,909 1,869 2,110 1,770 1,843 Official creditors 20 36 71 240 223 323 325 384 326 275 Multilateral 15 18 59 191 181 247 255 237 230 220 Concessional 0 2 0 0 0 0 0 0 0 0 Bilateral 5 18 12 49 42 76 71 147 96 55 Concessional 3 1 0 4 4 3 3 1 1 9 Private creditors 20 1,183 2,522 1,593 1,714 1,586 1,544 1,726 1,444 1,568 Bonds 3 61 135 1,422 1,501 1,376 1,327 1,325 977 1,051 Commercial banks 16 1,052 2,198 126 160 166 169 285 393 487 Other private 2 70 189 46 54 44 48 115 74 31 Private nonguaranteed 13 257 400 188 262 408 568 358 344 351 Bonds 0 0 0 11 31 200 304 303 339 337 Commercial banks and other 13 257 400 177 231 208 264 55 5 14 Memo: IBRD 13 12 19 87 76 88 91 75 53 33 IDA 0 0 0 0 0 0 0 0 0 0 NET TRANSFERS ON DEBT 162 312 -2,516 -529 1,944 -1,576 -3,045 -4,110 -5,095 -1,880 Public and publicly guaranteed 134 -87 -1,943 -1,014 -1,263 -2,026 -1,822 -3,639 -4,325 -1,523 Official creditors -16 -17 983 -112 1,241 -14 -157 -1,281 -955 -881 Multilateral -7 -50 967 -286 376 -184 -212 -148 -83 -336 Concessional 1 -4 -5 -1 -1 0 0 0 0 0 Bilateral -9 32 16 174 865 171 55 -1,132 -872 -546 Concessional -6 -6 15 -29 -12 -11 14 -2 9 19 Private creditors 150 -69 -2,926 -902 -2,505 -2,012 -1,665 -2,359 -3,370 -642 Bonds -4 202 210 -1,797 -2,468 -2,413 -1,984 -1,580 -1,944 -345 Commercial banks 119 -15 -2,878 704 -50 217 101 -63 -693 109 Other private 34 -256 -258 191 13 184 218 -716 -733 -405 Private nonguaranteed 28 399 -573 485 3,208 450 -1,223 -471 -770 -356 Bonds 0 0 0 174 2,344 1,013 -304 177 -439 -337 Commercial banks and other 28 399 -573 311 864 -564 -919 -648 -331 -19 Memo: IBRD -7 -35 821 -168 -68 -178 -249 -208 -222 -220 IDA 0 0 0 0 0 0 0 0 0 0 DEBT SERVICE (LTDS) 120 4,448 4,742 8,067 5,334 5,118 5,349 7,154 7,322 8,734 Public and publicly guaranteed 82 2,956 4,169 7,654 4,631 4,154 4,125 6,183 5,978 7,412 Official creditors 46 105 121 712 689 883 938 1,766 1,551 1,288 Multilateral 27 52 68 462 470 600 611 567 615 693 Concessional 0 7 5 1 1 0 0 0 0 0 Bilateral 18 53 53 250 219 283 327 1,200 937 596 Concessional 6 6 0 29 12 11 10 9 5 13 Private creditors 36 2,851 4,048 6,942 3,942 3,272 3,187 4,416 4,427 6,124 Bonds 4 74 389 6,312 2,968 2,413 2,446 2,343 2,155 4,108 Commercial banks 21 2,377 2,905 239 590 524 538 1,246 1,470 1,530 Other private 11 401 755 391 384 334 203 828 801 486 Private nonguaranteed 38 1,492 573 413 702 964 1,223 971 1,344 1,321 Bonds 0 0 0 26 106 200 304 323 439 337 Commercial banks and other 38 1,492 573 387 596 764 919 648 905 984 Memo: IBRD 22 35 19 259 256 297 299 287 264 243 IDA 0 0 0 0 0 0 0 0 0 0 UNDISBURSED DEBT 196 364 2,985 5,599 6,039 4,152 3,320 4,328 4,824 6,879 Official creditors 106 101 1,566 3,327 3,260 2,404 1,807 1,619 1,574 1,238 Private creditors 90 263 1,419 2,272 2,779 1,748 1,512 2,709 3,250 5,641 Memorandum items Concessional LDOD 82 61 85 69 63 49 63 46 57 88 Variable rate LDOD 255 11,224 17,448 17,814 20,298 19,777 17,768 16,054 15,805 13,147 Public sector LDOD 682 10,288 24,509 26,888 27,876 27,507 27,298 24,792 23,132 24,179 Private sector LDOD 272 3,518 3,650 2,967 6,431 7,264 6,581 6,452 6,264 6,327 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 10.7 13.9 16.0 Deutsche mark 5.2 7.8 6.9 7.3 5.1 4.2 3.3 .. .. .. French franc 1.5 1.9 4.1 1.4 1.1 1.1 1.2 .. .. .. Japanese yen 0.0 4.9 0.6 3.1 2.8 2.7 1.9 1.3 1.3 1.1 Pound sterling 0.1 0.0 1.5 1.3 1.1 1.0 0.8 0.7 0.7 0.6 Swiss franc 4.6 0.0 0.9 0.5 0.5 0.4 0.4 0.4 0.4 0.4 U.S.dollars 54.3 82.8 78.2 75.6 82.7 84.0 83.8 80.6 76.6 75.3 Multiple currency 32.0 2.3 6.5 9.1 5.0 5.2 5.5 6.2 7.1 6.5 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 2.3 0.3 1.3 1.8 1.6 1.3 3.1 0.1 0.1 0.1 567 VENEZUELA, REPUBLICA BOLIVARIANA de (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 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 4,400 0 0 0 0 0 0 of which debt buyback .. .. 634 4,000 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 792 1,228 2,034 -176 577 -2,116 -2,050 865 Net flows on debt 215 5,555 2,036 2,572 1,699 171 895 -1,108 -3,186 116 Net change in interest arrears .. .. -6 -21 -27 -38 -4 -10 3 -47 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -1,727 -400 0 0 0 0 0 0 Cross-currency valuation .. .. 379 -961 433 -252 -328 -240 681 815 Residual .. .. 110 38 -72 -57 13 -758 452 -18 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 7.2 12.1 8.2 7.8 7.9 7.5 8.1 8.1 5.1 6.0 Maturity (years) 8.3 7.7 14.5 16.3 9.5 8.4 8.0 8.9 8.6 8.3 Grace period (years) 1.9 3.1 5.6 13.2 1.5 3.7 2.6 5.3 1.7 7.2 Grant element (%) 11.0 -8.5 9.5 9.0 7.0 15.6 6.2 2.4 16.9 12.3 Official creditors Interest (%) 8.0 8.3 7.8 6.7 7.0 2.0 8.0 5.7 4.6 11.7 Maturity (years) 17.7 12.4 15.6 9.7 10.2 25.5 12.7 11.3 12.9 26.5 Grace period (years) 2.9 2.7 4.9 2.2 2.5 8.4 2.6 3.4 2.3 3.7 Grant element (%) 9.4 7.1 11.8 11.9 11.4 63.6 9.9 19.0 25.1 1.2 Private creditors Interest (%) 7.0 12.3 8.5 8.0 8.7 9.0 8.2 8.5 5.4 5.9 Maturity (years) 6.8 7.5 13.6 18.1 8.9 3.6 6.3 8.5 6.8 8.0 Grace period (years) 1.7 3.1 6.1 16.2 0.5 2.4 2.6 5.6 1.4 7.3 Grant element (%) 11.3 -9.3 7.8 8.2 2.4 1.9 5.0 -0.1 13.5 12.4 Memorandum items Commitments 188 2,769 3,209 10,455 3,944 381 1,671 3,605 2,016 7,782 Official creditors 25 133 1,362 2,225 2,005 84 430 485 591 115 Private creditors 163 2,636 1,847 8,231 1,939 297 1,241 3,120 1,425 7,666 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 4,177 1,608 682 298 60 33 11 4 2 0 Principal 4,875 3,247 2,468 2,636 3,174 880 3,070 2,103 1,346 2,047 Interest 2,198 2,141 1,944 1,846 1,707 1,475 1,424 1,210 1,132 1,063 Official creditors Disbursements 435 372 213 119 52 30 11 4 2 0 Principal 893 770 552 516 449 380 368 331 257 235 Interest 218 182 152 128 103 83 65 47 34 23 Bilateral creditors Disbursements 66 68 27 16 9 4 2 0 0 0 Principal 249 174 52 31 22 20 20 15 14 14 Interest 21 11 6 5 4 3 2 2 1 1 Multilateral creditors Disbursements 369 304 186 103 43 26 9 4 2 0 Principal 643 596 500 485 427 360 348 315 243 220 Interest 197 171 146 123 100 80 63 46 33 22 Private creditors Disbursements 3,742 1,236 469 178 7 3 0 0 0 0 Principal 3,983 2,477 1,917 2,120 2,725 500 2,702 1,773 1,089 1,812 Interest 1,980 1,959 1,792 1,718 1,603 1,392 1,360 1,162 1,098 1,040 Commercial banks Disbursements 2,018 1,130 417 159 0 0 0 0 0 0 Principal 1,030 875 722 804 391 314 240 1,470 348 931 Interest 363 348 325 286 254 238 225 194 149 142 Other private Disbursements 198 106 52 19 7 3 0 0 0 0 Principal 2,953 1,601 1,195 1,316 2,335 186 2,462 302 741 882 Interest 1,617 1,611 1,467 1,432 1,349 1,154 1,134 969 948 898 568 VIETNAM (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. .. 23,270 21,777 22,458 23,210 12,820 12,576 13,324 15,817 Long-term debt (LDOD) .. .. 21,378 18,982 19,874 20,479 11,581 11,427 12,159 14,189 Public and publicly guaranteed .. .. 21,378 18,982 19,874 20,479 11,581 11,427 12,159 14,189 Private nonguaranteed .. .. 0 0 0 0 0 0 0 0 Use of IMF credit 0 0 112 452 391 355 316 366 381 339 Short-term debt .. .. 1,780 2,342 2,193 2,376 923 783 784 1,289 of which interest arrears on LDOD .. .. 1,530 1,391 1,545 1,689 78 79 79 82 Official creditors .. .. 859 1,391 1,543 1,686 76 77 76 80 Private creditors .. .. 671 0 2 2 2 2 2 3 Memo: principal arrears on LDOD .. .. 2,011 7,359 8,043 8,596 1,378 1,378 1,376 1,379 Official creditors .. .. 1,091 7,359 8,039 8,587 1,372 1,370 1,370 1,372 Private creditors .. .. 920 1 4 9 6 8 6 7 Memo: export credits .. .. 431 985 1,261 1,046 522 614 832 932 TOTAL DEBT FLOWS Disbursements .. .. 13 1,205 1,267 1,066 1,268 1,292 905 1,547 Long-term debt .. .. 13 1,205 1,267 1,066 1,268 1,187 851 1,547 IMF purchases 0 0 0 0 0 0 0 105 54 0 Principal repayments .. .. 104 589 667 1,050 958 835 895 505 Long-term debt .. .. 99 535 589 1,024 937 791 827 432 IMF repurchases 0 0 5 54 78 26 21 44 68 73 Net flows on debt .. .. -95 554 298 55 468 316 12 1,544 of which short-term debt .. .. -4 -62 -303 39 158 -141 2 502 Interest payments (INT) .. .. 70 325 429 362 352 384 301 300 Long-term debt .. .. 46 268 387 326 298 354 276 269 IMF charges 0 0 0 9 6 3 3 2 2 2 Short-term debt .. .. 23 47 36 33 51 28 23 29 Net transfers on debt .. .. -165 229 -131 -307 116 -68 -290 1,244 Total debt service paid (TDS) .. .. 174 914 1,096 1,412 1,310 1,219 1,196 805 Long-term debt .. .. 146 804 975 1,350 1,234 1,145 1,103 701 IMF repurchases and charges 0 0 5 63 84 29 24 46 70 75 Short-term debt (interest only) .. .. 23 47 36 33 51 28 23 29 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. .. 189 3,144 2,586 1,717 1,865 1,959 1,666 2,883 Net flow of long-term debt (ex. IMF) .. .. -86 670 679 43 331 395 24 1,115 Foreign direct investment (net) .. .. 180 2,220 1,671 1,412 1,298 1,300 1,400 1,450 Portfolio equity flows .. .. 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. .. 96 254 236 263 236 264 242 318 Memo: technical coop. grants .. .. 98 210 204 204 246 250 248 291 official net resource flows .. .. 9 632 1,280 1,086 1,273 1,252 911 1,691 private net resource flows .. .. 180 2,512 1,305 631 592 707 755 1,192 NET TRANSFERS .. .. 143 2,573 1,809 924 956 963 640 1,684 Interest on long-term debt .. .. 46 268 387 326 298 354 276 269 Profit remittances on FDI .. .. 0 303 390 467 611 642 750 930 Memo: official net transfers .. .. -17 545 1,166 1,022 1,196 1,069 723 1,487 private net transfers .. .. 160 2,028 643 -97 -239 -105 -83 197 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 6,060 26,352 26,708 28,302 30,726 32,248 35,086 39,157 Exports of goods, serv. & inc. (XGS) .. .. .. 11,851 12,104 14,175 17,481 18,155 19,821 23,542 Worker remit. & comp. of employees .. .. 0 0 0 0 0 2,000 2,714 2,700 Imports of goods & services (MGS) .. .. .. 14,264 14,300 14,179 18,107 18,723 22,346 27,877 International reserves (RES) .. .. .. 1,986 2,002 3,326 3,417 3,675 4,121 6,224 Current account balance .. .. .. -1,528 -1,074 1,177 1,106 682 -604 .. 4. DEBT INDICATORS EDT / XGS (%) .. .. .. 183.8 185.5 163.7 73.3 69.3 67.2 67.2 EDT / GNI (%) .. .. 384.0 82.6 84.1 82.0 41.7 39.0 38.0 40.4 TDS / XGS (%) .. .. .. 7.7 9.1 10.0 7.5 6.7 6.0 3.4 INT / XGS (%) .. .. .. 2.7 3.5 2.6 2.0 2.1 1.5 1.3 INT / GNI (%) .. .. 1.2 1.2 1.6 1.3 1.1 1.2 0.9 0.8 RES / EDT (%) .. .. .. 9.1 8.9 14.3 26.6 29.2 30.9 39.4 RES / MGS (months) .. .. .. 1.7 1.7 2.8 2.3 2.4 2.2 2.7 Short-term / EDT (%) .. .. 7.7 10.8 9.8 10.2 7.2 6.2 5.9 8.2 Concessional / EDT (%) .. .. 84.9 15.3 20.0 24.0 61.3 66.4 72.4 73.8 Multilateral / EDT (%) .. .. 0.6 3.8 5.7 6.9 14.8 17.6 21.5 24.8 569 VIETNAM (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. .. 21,378 18,982 19,874 20,479 11,581 11,427 12,159 14,189 Public and publicly guaranteed .. .. 21,378 18,982 19,874 20,479 11,581 11,427 12,159 14,189 Official creditors .. .. 20,171 14,241 15,446 16,817 8,677 9,165 10,507 12,745 Multilateral .. .. 130 827 1,270 1,606 1,895 2,210 2,869 3,926 Concessional .. .. 103 819 1,252 1,584 1,846 2,156 2,794 3,852 Bilateral .. .. 20,041 13,413 14,176 15,211 6,782 6,955 7,638 8,819 Concessional .. .. 19,646 2,504 3,235 3,975 6,015 6,193 6,848 7,828 Private creditors .. .. 1,207 4,742 4,428 3,663 2,904 2,262 1,652 1,444 Bonds .. .. 0 560 560 560 560 560 560 560 Commercial banks .. .. 684 3,458 3,112 2,300 1,664 1,076 527 380 Other private .. .. 523 724 756 803 680 627 565 504 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 59 569 851 989 1,113 1,344 1,715 2,472 DISBURSEMENTS .. .. 13 1,205 1,267 1,066 1,268 1,187 851 1,547 Public and publicly guaranteed .. .. 13 1,205 1,267 1,066 1,268 1,187 851 1,547 Official creditors .. .. 13 564 1,132 912 1,172 1,093 803 1,526 Multilateral .. .. 4 346 392 342 395 435 466 757 Concessional .. .. 0 338 384 338 367 430 444 757 Bilateral .. .. 9 217 739 570 777 657 337 768 Concessional .. .. 8 208 697 541 733 625 318 578 Private creditors .. .. 0 641 136 155 96 94 48 21 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 177 54 16 11 36 27 19 Other private .. .. 0 465 82 139 86 58 21 2 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 0 181 254 158 174 278 261 567 PRINCIPAL REPAYMENTS .. .. 99 535 589 1,024 937 791 827 432 Public and publicly guaranteed .. .. 99 535 589 1,024 937 791 827 432 Official creditors .. .. 99 186 88 88 134 104 134 153 Multilateral .. .. 3 6 5 6 6 5 4 9 Concessional .. .. 3 6 5 6 6 5 4 6 Bilateral .. .. 96 179 83 83 128 98 130 144 Concessional .. .. 43 56 44 58 93 70 101 115 Private creditors .. .. 0 350 501 936 802 688 693 279 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 330 428 829 617 596 596 191 Other private .. .. 0 19 74 107 185 91 97 87 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 2 2 2 2 2 NET FLOWS ON DEBT .. .. -86 670 679 43 331 395 24 1,115 Public and publicly guaranteed .. .. -86 670 679 43 331 395 24 1,115 Official creditors .. .. -86 378 1,044 824 1,037 989 669 1,373 Multilateral .. .. 1 340 387 336 389 430 462 748 Concessional .. .. -3 331 379 332 361 425 440 750 Bilateral .. .. -87 38 657 487 648 559 207 625 Concessional .. .. -36 152 653 482 641 555 217 463 Private creditors .. .. 0 292 -366 -781 -706 -593 -645 -258 Bonds .. .. 0 0 0 0 0 0 0 0 Commercial banks .. .. 0 -154 -373 -813 -606 -560 -569 -172 Other private .. .. 0 445 8 32 -100 -33 -76 -85 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 -1 180 253 156 173 277 259 565 570 VIETNAM (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. .. 46 268 387 326 298 354 276 269 Public and publicly guaranteed .. .. 46 268 387 326 298 354 276 269 Official creditors .. .. 26 87 114 64 77 184 188 203 Multilateral .. .. 2 5 8 12 14 20 22 29 Concessional .. .. 0 5 8 12 13 18 20 27 Bilateral .. .. 24 82 106 52 63 163 166 174 Concessional .. .. 3 52 53 37 48 145 148 155 Private creditors .. .. 20 181 273 261 220 170 88 66 Bonds .. .. 0 0 12 23 23 23 22 22 Commercial banks .. .. 4 164 232 196 153 115 38 19 Other private .. .. 16 17 29 43 44 32 29 25 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 3 5 7 7 8 11 15 NET TRANSFERS ON DEBT .. .. -133 401 292 -283 34 41 -252 846 Public and publicly guaranteed .. .. -133 401 292 -283 34 41 -252 846 Official creditors .. .. -112 290 930 759 960 805 481 1,169 Multilateral .. .. -1 334 379 325 375 409 440 719 Concessional .. .. -3 326 371 321 348 407 420 724 Bilateral .. .. -111 -44 551 435 585 396 42 451 Concessional .. .. -39 99 600 445 593 410 69 308 Private creditors .. .. -20 111 -638 -1,042 -926 -764 -733 -323 Bonds .. .. 0 0 -12 -23 -23 -23 -22 -22 Commercial banks .. .. -4 -318 -605 -1,008 -760 -675 -607 -192 Other private .. .. -16 428 -21 -11 -143 -66 -104 -110 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 -1 177 248 150 165 268 248 550 DEBT SERVICE (LTDS) .. .. 146 804 975 1,350 1,234 1,145 1,103 701 Public and publicly guaranteed .. .. 146 804 975 1,350 1,234 1,145 1,103 701 Official creditors .. .. 125 273 201 153 212 287 322 356 Multilateral .. .. 5 12 13 18 20 26 27 38 Concessional .. .. 3 12 13 17 19 23 24 33 Bilateral .. .. 120 261 188 135 192 262 295 318 Concessional .. .. 47 108 97 95 140 215 249 270 Private creditors .. .. 20 530 774 1,197 1,023 858 781 344 Bonds .. .. 0 0 12 23 23 23 22 22 Commercial banks .. .. 4 494 659 1,024 770 711 634 211 Other private .. .. 16 36 103 150 229 123 125 112 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 4 5 8 9 10 12 17 UNDISBURSED DEBT .. .. 155 8,604 5,637 6,518 5,829 5,678 6,711 7,414 Official creditors .. .. 89 8,337 5,334 6,220 5,630 5,566 6,650 7,402 Private creditors .. .. 66 266 303 298 199 112 61 11 Memorandum items Concessional LDOD .. .. 19,750 3,323 4,488 5,560 7,861 8,349 9,642 11,680 Variable rate LDOD .. .. 847 3,498 3,287 2,561 1,981 1,373 838 690 Public sector LDOD .. .. 21,378 18,982 19,874 20,479 11,581 11,427 12,159 14,189 Private sector LDOD .. .. 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 6.9 8.0 7.9 Deutsche mark .. .. 1.7 0.9 0.9 0.7 1.0 .. .. .. French franc .. .. 1.0 1.6 1.9 2.3 3.9 .. .. .. Japanese yen .. .. 2.0 5.4 8.9 11.9 23.5 24.9 27.7 29.1 Pound sterling .. .. 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Swiss franc .. .. 0.0 0.1 0.0 0.0 0.1 0.0 0.0 0.0 U.S.dollars .. .. 5.5 30.7 29.4 26.9 43.3 41.3 38.3 39.9 Multiple currency .. .. 0.2 1.1 1.8 2.6 5.1 5.2 5.6 5.5 Special drawing rights .. .. 0.0 0.1 0.1 0.2 0.3 0.4 0.4 0.4 All other currencies .. .. 89.3 60.1 56.9 55.4 22.7 21.0 19.9 17.2 571 VIETNAM (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 410 887 15 1 0 0 0 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 407 5 0 0 0 0 0 Official .. .. 0 12 5 0 0 0 0 0 Private .. .. 0 395 0 0 0 0 0 0 Interest rescheduled .. .. 0 303 5 0 0 0 0 0 Official .. .. 0 0 5 0 0 0 0 0 Private .. .. 0 303 0 0 0 0 0 0 Debt forgiven .. .. 0 0 0 0 5 0 0 0 Memo: interest forgiven .. .. 0 0 0 0 1,631 77 0 0 Debt stock reduction .. .. 0 249 0 0 8,759 0 0 0 of which debt buyback .. .. 0 31 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 2,565 -4,479 681 752 -10,390 -244 748 2,493 Net flows on debt .. .. -95 554 298 55 468 316 12 1,544 Net change in interest arrears .. .. 372 -1,350 154 144 -1,611 1 0 4 Interest capitalized .. .. 0 303 5 0 0 0 0 0 Debt forgiveness or reduction .. .. 0 -218 0 0 -8,763 0 0 0 Cross-currency valuation .. .. 1,793 -335 183 116 -457 -524 674 951 Residual .. .. 495 -3,432 42 438 -27 -37 63 -6 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. .. 5.7 3.2 2.4 2.3 1.4 1.0 1.3 1.9 Maturity (years) .. .. 9.6 27.1 29.1 34.0 36.1 38.7 35.0 28.0 Grace period (years) .. .. 4.2 7.6 8.2 9.1 9.6 9.7 9.4 7.7 Grant element (%) .. .. 19.9 52.6 59.5 63.9 73.2 77.2 72.6 60.3 Official creditors Interest (%) .. .. 5.7 2.1 2.0 1.9 1.4 1.0 1.3 1.9 Maturity (years) .. .. 9.6 32.5 30.8 36.2 36.1 38.7 35.0 28.0 Grace period (years) .. .. 4.2 9.6 8.9 9.6 9.6 9.7 9.4 7.7 Grant element (%) .. .. 19.9 65.5 63.5 68.7 73.2 77.2 72.6 60.3 Private creditors Interest (%) .. .. 0.0 7.0 5.6 6.2 0.0 0.0 0.0 0.0 Maturity (years) .. .. 0.0 9.8 12.2 13.2 0.0 0.0 0.0 0.0 Grace period (years) .. .. 0.0 1.1 1.6 3.6 0.0 0.0 0.0 0.0 Grant element (%) .. .. 0.0 11.1 19.8 18.2 0.0 0.0 0.0 0.0 Memorandum items Commitments .. .. 11 2,027 1,833 1,624 1,191 1,569 1,373 1,642 Official creditors .. .. 11 1,547 1,663 1,468 1,191 1,569 1,373 1,642 Private creditors .. .. 0 481 170 156 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 2,071 1,825 1,256 855 571 358 217 119 69 33 Principal 397 462 504 580 669 707 752 770 784 822 Interest 306 323 329 345 335 326 310 294 278 260 Official creditors Disbursements 2,061 1,823 1,256 855 571 358 217 119 69 33 Principal 249 310 367 462 569 617 680 710 725 765 Interest 248 273 286 309 304 299 288 273 260 244 Bilateral creditors Disbursements 1,520 1,301 806 470 241 122 52 4 2 0 Principal 225 271 313 390 478 499 541 553 556 590 Interest 211 226 234 250 242 231 219 204 192 178 Multilateral creditors Disbursements 541 522 450 385 330 235 165 115 67 33 Principal 24 39 54 72 90 118 138 157 169 176 Interest 37 46 52 59 61 68 69 69 68 66 Private creditors Disbursements 10 2 0 0 0 0 0 0 0 0 Principal 147 152 138 118 101 91 73 60 59 56 Interest 58 50 43 36 31 26 23 20 18 16 Commercial banks Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 45 43 38 30 24 23 22 20 20 19 Interest 14 12 10 8 7 6 5 4 3 2 Other private Disbursements 10 2 0 0 0 0 0 0 0 0 Principal 102 109 100 88 76 67 51 40 39 37 Interest 44 38 33 28 24 21 18 16 15 14 572 YEMEN, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) .. 1,684 6,352 3,874 5,733 6,194 5,075 5,087 5,225 5,377 Long-term debt (LDOD) .. 1,453 5,160 3,434 5,232 5,372 4,059 4,277 4,497 4,746 Public and publicly guaranteed .. 1,453 5,160 3,434 5,232 5,372 4,059 4,277 4,497 4,746 Private nonguaranteed .. 0 0 0 0 0 0 0 0 0 Use of IMF credit 0 48 0 250 336 408 317 374 386 401 Short-term debt .. 182 1,192 190 165 413 699 436 341 229 of which interest arrears on LDOD .. 0 192 70 25 26 27 24 26 46 Official creditors .. 0 131 50 25 25 25 22 22 41 Private creditors .. 0 61 20 0 1 2 2 4 6 Memo: principal arrears on LDOD .. 7 845 632 257 274 289 245 261 318 Official creditors .. 3 383 469 256 273 288 243 255 308 Private creditors .. 4 463 163 0 1 1 2 5 10 Memo: export credits .. 0 338 143 90 71 80 87 88 235 TOTAL DEBT FLOWS Disbursements .. 576 305 286 303 343 136 278 149 159 Long-term debt .. 566 305 147 231 228 136 156 149 159 IMF purchases 0 10 0 140 72 115 0 121 0 0 Principal repayments .. 35 81 60 119 99 153 184 110 118 Long-term debt .. 25 79 60 119 65 81 132 92 99 IMF repurchases 0 11 1 0 0 34 71 53 18 19 Net flows on debt .. 546 386 219 204 491 268 -167 -57 -92 of which short-term debt .. 6 161 -7 20 247 285 -260 -97 -132 Interest payments (INT) .. 37 88 38 77 79 91 75 61 58 Long-term debt .. 10 28 26 70 57 45 49 47 51 IMF charges 0 2 0 7 0 9 10 6 3 3 Short-term debt .. 25 60 5 7 13 35 20 11 4 Net transfers on debt .. 509 297 181 127 412 178 -241 -119 -149 Total debt service paid (TDS) .. 73 169 98 197 178 243 259 171 176 Long-term debt .. 35 108 86 189 122 126 181 139 150 IMF repurchases and charges 0 13 1 7 0 43 81 59 21 22 Short-term debt (interest only) .. 25 60 5 7 13 35 20 11 4 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS .. 944 333 82 18 12 224 274 283 100 Net flow of long-term debt (ex. IMF) .. 542 226 87 112 163 55 25 57 60 Foreign direct investment (net) .. 34 -131 -139 -219 -308 6 155 114 -89 Portfolio equity flows .. 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) .. 368 238 133 125 157 163 94 112 129 Memo: technical coop. grants .. 62 106 65 58 50 51 57 57 54 official net resource flows .. 847 303 221 235 315 218 126 169 189 private net resource flows .. 97 30 -138 -218 -303 6 148 114 -89 NET TRANSFERS .. 934 21 -499 -373 -706 -677 -575 -603 -896 Interest on long-term debt .. 10 28 26 70 57 45 49 47 51 Profit remittances on FDI .. 0 283 554 321 662 855 800 840 945 Memo: official net transfers .. 838 279 194 167 259 173 77 122 138 private net transfers .. 96 -259 -693 -540 -965 -850 -652 -725 -1,034 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) .. .. 4,792 6,335 6,143 6,991 8,638 8,851 9,218 10,042 Exports of goods, serv. & inc. (XGS) .. .. 3,026 3,720 2,950 3,941 5,446 5,006 5,216 5,621 Worker remit. & comp. of employees .. 0 1,498 1,169 1,202 1,223 1,288 1,295 1,294 1,270 Imports of goods & services (MGS) .. .. 2,579 3,755 3,395 3,591 4,221 4,318 4,767 5,569 International reserves (RES) .. .. 441 1,218 1,010 1,486 2,914 3,672 4,428 5,008 Current account balance .. .. 739 22 -318 550 1,337 667 538 149 4. DEBT INDICATORS EDT / XGS (%) .. .. 209.9 104.1 194.4 157.1 93.2 101.6 100.2 95.7 EDT / GNI (%) .. .. 132.6 61.1 93.3 88.6 58.8 57.5 56.7 53.5 TDS / XGS (%) .. .. 5.6 2.6 6.7 4.5 4.5 5.2 3.3 3.1 INT / XGS (%) .. .. 2.9 1.0 2.6 2.0 1.7 1.5 1.2 1.0 INT / GNI (%) .. .. 1.8 0.6 1.3 1.1 1.1 0.8 0.7 0.6 RES / EDT (%) .. .. 6.9 31.4 17.6 24.0 57.4 72.2 84.7 93.1 RES / MGS (months) .. .. 2.1 3.9 3.6 5.0 8.3 10.2 11.1 10.8 Short-term / EDT (%) .. 10.8 18.8 4.9 2.9 6.7 13.8 8.6 6.5 4.3 Concessional / EDT (%) .. 72.0 50.7 79.6 85.7 81.8 77.3 82.0 84.1 86.1 Multilateral / EDT (%) .. 15.0 16.2 35.9 28.2 28.3 33.0 32.6 34.8 37.8 573 YEMEN, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) .. 1,453 5,160 3,434 5,232 5,372 4,059 4,277 4,497 4,746 Public and publicly guaranteed .. 1,453 5,160 3,434 5,232 5,372 4,059 4,277 4,497 4,746 Official creditors .. 1,238 3,502 3,252 5,148 5,300 3,996 4,227 4,438 4,675 Multilateral .. 253 1,026 1,391 1,616 1,754 1,676 1,658 1,820 2,032 Concessional .. 253 990 1,331 1,523 1,658 1,636 1,630 1,800 2,015 Bilateral .. 985 2,476 1,861 3,532 3,546 2,320 2,569 2,618 2,643 Concessional .. 961 2,231 1,751 3,391 3,406 2,289 2,542 2,596 2,615 Private creditors .. 216 1,658 182 83 72 63 50 59 71 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 80 80 61 57 53 50 59 71 Other private .. 216 1,578 102 22 15 10 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 0 137 602 934 1,075 1,216 1,216 1,237 1,384 1,567 DISBURSEMENTS .. 566 305 147 231 228 136 156 149 159 Public and publicly guaranteed .. 566 305 147 231 228 136 156 149 159 Official creditors .. 501 139 147 229 223 136 156 149 159 Multilateral .. 65 56 145 200 221 111 117 125 138 Concessional .. 65 55 134 187 210 102 117 125 138 Bilateral .. 436 84 2 29 2 25 39 25 20 Concessional .. 426 84 2 29 2 24 35 23 16 Private creditors .. 65 166 0 2 5 0 0 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 2 5 0 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 89 121 173 65 77 83 89 PRINCIPAL REPAYMENTS .. 25 79 60 119 65 81 132 92 99 Public and publicly guaranteed .. 25 79 60 119 65 81 132 92 99 Official creditors .. 23 74 60 119 65 81 125 92 99 Multilateral .. 3 41 60 112 55 60 69 62 61 Concessional .. 3 26 55 87 49 52 59 53 56 Bilateral .. 20 34 0 7 10 20 56 30 38 Concessional .. 16 34 0 7 10 20 54 29 38 Private creditors .. 2 5 0 0 0 0 7 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 0 0 1 0 0 Other private .. 2 5 0 0 0 0 6 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 0 2 10 11 12 14 17 19 23 NET FLOWS ON DEBT .. 542 226 87 112 163 55 25 57 60 Public and publicly guaranteed .. 542 226 87 112 163 55 25 57 60 Official creditors .. 478 65 87 110 158 55 31 57 60 Multilateral .. 62 15 86 88 166 50 48 63 77 Concessional .. 62 29 78 99 160 50 58 72 83 Bilateral .. 416 50 2 22 -9 5 -17 -6 -17 Concessional .. 410 50 2 22 -9 4 -18 -6 -22 Private creditors .. 63 161 0 2 5 0 -7 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 2 5 0 -1 0 0 Other private .. 63 161 0 0 0 0 -6 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 25 79 111 160 51 60 64 66 574 YEMEN, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) .. 10 28 26 70 57 45 49 47 51 Public and publicly guaranteed .. 10 28 26 70 57 45 49 47 51 Official creditors .. 9 23 26 68 56 45 48 47 51 Multilateral .. 5 14 21 32 20 21 21 21 23 Concessional .. 5 12 17 27 18 19 19 20 22 Bilateral .. 4 9 6 36 36 24 27 25 28 Concessional .. 4 9 0 27 34 22 25 24 27 Private creditors .. 1 5 0 2 1 0 1 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 1 1 0 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 7 7 8 9 9 10 11 NET TRANSFERS ON DEBT .. 531 197 61 42 106 10 -24 10 9 Public and publicly guaranteed .. 531 197 61 42 106 10 -24 10 9 Official creditors .. 469 42 61 42 102 10 -17 10 9 Multilateral .. 57 1 65 56 146 29 26 41 54 Concessional .. 57 17 61 72 142 31 39 52 61 Bilateral .. 412 41 -4 -14 -44 -19 -43 -31 -45 Concessional .. 405 41 2 -5 -43 -19 -44 -30 -49 Private creditors .. 62 156 0 0 4 -1 -7 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 0 4 -1 -1 0 0 Other private .. 62 156 0 0 0 0 -6 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 27 22 72 104 152 42 51 54 55 DEBT SERVICE (LTDS) .. 35 108 86 189 122 126 181 139 150 Public and publicly guaranteed .. 35 108 86 189 122 126 181 139 150 Official creditors .. 32 97 86 188 121 126 173 139 150 Multilateral .. 7 55 81 144 75 82 90 83 84 Concessional .. 7 38 72 115 67 71 78 72 78 Bilateral .. 24 43 6 43 46 44 83 55 66 Concessional .. 21 43 0 34 44 43 79 53 65 Private creditors .. 3 10 0 2 1 1 7 0 0 Bonds .. 0 0 0 0 0 0 0 0 0 Commercial banks .. 0 0 0 1 1 1 1 0 0 Other private .. 3 10 0 0 0 0 6 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 6 16 18 20 23 26 29 34 UNDISBURSED DEBT .. 1,598 1,665 776 790 706 736 819 914 900 Official creditors .. 1,261 1,215 776 784 706 736 819 914 900 Private creditors .. 336 450 0 6 0 0 0 0 0 Memorandum items Concessional LDOD .. 1,213 3,221 3,082 4,914 5,064 3,925 4,171 4,396 4,630 Variable rate LDOD .. 0 80 80 8 8 8 3 3 3 Public sector LDOD .. 1,453 5,160 3,434 5,232 5,372 4,059 4,277 4,497 4,746 Private sector LDOD .. 0 0 0 0 0 0 0 0 0 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 2.7 1.5 1.8 Deutsche mark .. 0.0 0.0 0.0 0.0 0.0 0.0 .. .. .. French franc .. 1.5 0.8 1.7 2.6 2.1 2.2 .. .. .. Japanese yen .. 0.6 4.4 7.3 11.7 12.6 7.8 5.9 7.3 7.6 Pound sterling .. 3.2 0.7 1.0 0.3 0.3 0.3 0.1 0.1 0.1 Swiss franc .. 2.8 0.3 0.4 0.0 0.0 0.0 0.0 0.0 0.0 U.S.dollars .. 22.4 20.2 56.3 64.6 65.3 67.9 64.6 65.2 65.4 Multiple currency .. 0.1 1.6 0.5 0.2 0.2 0.2 0.2 0.2 0.2 Special drawing rights .. 0.0 2.5 4.8 4.5 4.5 5.6 5.2 5.3 5.4 All other currencies .. 69.5 69.5 28.0 16.2 15.0 15.9 21.4 20.3 19.5 575 YEMEN, REPUBLIC OF (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 98 685 203 95 123 619 77 0 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 98 559 63 50 107 231 7 0 Official .. .. 98 268 60 47 105 231 7 0 Private .. .. 0 292 3 3 2 0 0 0 Interest rescheduled .. .. 0 95 12 12 10 1 6 0 Official .. .. 0 61 11 11 9 1 6 0 Private .. .. 0 34 1 1 1 0 0 0 Debt forgiven .. .. 0 2,173 8 9 9 24 0 5 Memo: interest forgiven .. .. 0 338 0 0 0 0 0 1 Debt stock reduction .. .. 0 0 0 0 0 35 0 0 of which debt buyback .. .. 0 0 0 0 0 0 0 0 8. DEBT STOCK-FLOW RECONCILIATION Total change in debt stocks .. .. 759 -2,488 1,859 461 -1,118 11 138 153 Net flows on debt .. 546 386 219 204 491 268 -167 -57 -92 Net change in interest arrears .. .. 82 -422 -45 1 1 -3 2 21 Interest capitalized .. .. 0 95 12 12 10 1 6 0 Debt forgiveness or reduction .. .. 0 -2,173 -8 -9 -9 -60 0 -5 Cross-currency valuation .. .. 233 -168 -10 11 -139 -110 188 234 Residual .. .. 58 -40 1,706 -44 -1,250 349 -1 -5 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) .. 2.7 1.8 0.5 2.1 1.5 0.9 2.3 1.3 1.2 Maturity (years) .. 26.9 28.6 39.7 30.0 35.2 36.5 29.9 36.5 35.1 Grace period (years) .. 5.8 7.2 10.2 8.3 8.8 9.6 7.8 9.6 9.7 Grant element (%) .. 54.4 61.3 82.7 62.5 71.0 76.7 60.9 74.2 74.0 Official creditors Interest (%) .. 2.4 1.8 0.5 2.1 1.5 0.9 2.3 1.3 1.2 Maturity (years) .. 28.3 28.6 39.7 30.0 35.2 36.5 29.9 36.5 35.1 Grace period (years) .. 6.0 7.2 10.2 8.3 8.8 9.6 7.8 9.6 9.7 Grant element (%) .. 57.2 61.3 82.7 62.5 71.0 76.7 60.9 74.2 74.0 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 .. 553 201 149 130 211 301 279 212 91 Official creditors .. 476 201 149 130 211 301 279 212 91 Private creditors .. 78 0 0 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 149 166 143 120 98 72 52 34 26 15 Principal 150 150 152 154 163 165 167 170 173 173 Interest 55 55 55 54 52 51 49 47 44 42 Official creditors Disbursements 149 166 143 120 98 72 52 34 26 15 Principal 146 146 148 149 159 160 162 166 168 168 Interest 54 54 54 53 51 50 48 46 44 42 Bilateral creditors Disbursements 2 1 1 0 0 0 0 0 0 0 Principal 83 83 82 79 83 83 79 77 75 73 Interest 29 28 27 25 24 23 22 21 20 19 Multilateral creditors Disbursements 147 165 142 120 98 72 52 34 26 15 Principal 63 63 66 70 76 77 83 88 93 95 Interest 24 26 27 27 27 27 26 25 24 23 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 4 4 5 5 5 5 5 5 5 5 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 4 4 5 5 5 5 5 5 5 5 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 0 576 ZAMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 814 3,244 6,916 6,668 6,879 5,868 5,731 5,671 5,978 6,425 Long-term debt (LDOD) 654 2,211 4,554 5,270 5,361 4,584 4,514 4,513 4,855 5,439 Public and publicly guaranteed 624 2,124 4,552 5,257 5,332 4,511 4,449 4,394 4,746 5,043 Private nonguaranteed 30 87 2 12 28 73 65 119 108 396 Use of IMF credit 0 447 949 1,138 1,188 1,171 1,138 982 1,015 859 Short-term debt 160 586 1,414 261 331 113 79 175 108 127 of which interest arrears on LDOD 0 6 739 140 137 39 36 35 40 57 Official creditors 0 3 671 114 121 29 26 25 30 32 Private creditors 0 3 68 26 15 10 10 9 10 26 Memo: principal arrears on LDOD 0 33 1,493 751 761 156 142 141 151 229 Official creditors 0 20 1,389 661 699 127 114 114 123 127 Private creditors 0 13 104 90 62 29 28 27 28 102 Memo: export credits 0 0 1,123 1,468 969 828 661 660 1,042 883 TOTAL DEBT FLOWS Disbursements 374 690 164 286 84 264 287 308 341 96 Long-term debt 374 599 164 272 84 250 261 213 170 96 IMF purchases 0 90 0 14 0 14 26 95 172 0 Principal repayments 45 269 126 165 132 58 98 80 188 247 Long-term debt 41 212 101 165 132 58 98 38 126 176 IMF repurchases 4 57 25 0 0 0 0 42 62 71 Net flows on debt 329 360 -127 -84 25 85 159 325 81 -150 of which short-term debt 0 -61 -165 -205 73 -121 -30 97 -72 2 Interest payments (INT) 31 141 77 81 70 90 88 45 101 141 Long-term debt 31 115 72 65 55 77 80 37 94 134 IMF charges 0 26 2 6 6 6 6 5 5 5 Short-term debt 0 0 3 10 9 7 3 3 2 2 Net transfers on debt 298 219 -203 -165 -45 -5 71 280 -20 -291 Total debt service paid (TDS) 76 410 202 246 202 149 186 125 289 389 Long-term debt 72 326 173 230 187 135 177 75 220 311 IMF repurchases and charges 4 84 27 6 6 6 6 47 67 76 Short-term debt (interest only) 0 0 3 10 9 7 3 3 2 2 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS 37 521 929 566 408 714 699 517 511 588 Net flow of long-term debt (ex. IMF) 333 387 63 107 -49 192 163 174 44 -81 Foreign direct investment (net) -297 62 203 207 198 163 122 72 82 100 Portfolio equity flows 0 0 0 1 1 13 -1 0 0 0 Grants (excluding technical coop.) 2 72 663 250 257 347 415 271 386 569 Memo: technical coop. grants 13 87 128 133 97 92 108 99 118 123 official net resource flows 18 346 736 365 241 497 587 392 441 498 private net resource flows 20 175 193 202 167 217 112 125 70 90 NET TRANSFERS 7 322 743 437 302 601 586 449 387 434 Interest on long-term debt 31 115 72 65 55 77 80 37 94 134 Profit remittances on FDI 0 84 115 63 51 36 33 31 30 20 Memo: official net transfers 12 293 693 312 193 425 511 359 350 392 private net transfers -5 29 50 126 110 177 75 91 38 41 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,742 3,594 3,008 3,705 3,022 2,975 3,080 3,469 3,542 4,187 Exports of goods, serv. & inc. (XGS) .. 1,625 1,362 1,269 964 923 918 1,106 1,138 1,398 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 1,798 1,752 2,110 International reserves (RES) 515 206 201 239 69 45 245 183 535 248 Current account balance .. -516 -594 -182 -570 -386 -553 .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 199.7 507.8 525.5 713.4 636.0 624.6 512.9 525.1 459.7 EDT / GNI (%) 46.7 90.3 229.9 180.0 227.6 197.2 186.1 163.5 168.8 153.4 TDS / XGS (%) .. 25.2 14.9 19.4 21.0 16.1 20.2 11.3 25.4 27.8 INT / XGS (%) .. 8.7 5.6 6.4 7.2 9.8 9.6 4.1 8.9 10.1 INT / GNI (%) 1.8 3.9 2.5 2.2 2.3 3.0 2.9 1.3 2.9 3.4 RES / EDT (%) 63.3 6.4 2.9 3.6 1.0 0.8 4.3 3.2 9.0 3.9 RES / MGS (months) .. 1.2 1.0 1.8 0.6 0.4 2.0 1.2 3.7 1.4 Short-term / EDT (%) 19.7 18.1 20.4 3.9 4.8 1.9 1.4 3.1 1.8 2.0 Concessional / EDT (%) 6.3 24.6 29.9 52.3 53.0 60.2 62.4 62.7 65.6 66.0 Multilateral / EDT (%) 7.6 12.1 20.2 32.5 32.6 39.7 42.0 42.9 46.2 47.7 577 ZAMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 654 2,211 4,554 5,270 5,361 4,584 4,514 4,513 4,855 5,439 Public and publicly guaranteed 624 2,124 4,552 5,257 5,332 4,511 4,449 4,394 4,746 5,043 Official creditors 120 1,485 4,108 5,087 5,220 4,478 4,418 4,364 4,716 5,013 Multilateral 61 393 1,400 2,166 2,242 2,331 2,409 2,435 2,760 3,063 Concessional 0 19 579 1,923 2,031 2,138 2,252 2,298 2,623 2,933 Bilateral 59 1,091 2,708 2,921 2,977 2,148 2,009 1,929 1,956 1,950 Concessional 51 778 1,487 1,565 1,617 1,393 1,326 1,259 1,297 1,307 Private creditors 503 639 444 170 113 33 31 30 30 30 Bonds 55 3 0 0 0 0 0 0 0 0 Commercial banks 0 77 70 21 21 1 0 0 0 0 Other private 449 560 374 149 92 32 31 30 30 30 Private nonguaranteed 30 87 2 12 28 73 65 119 108 396 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 30 87 2 12 28 73 65 119 108 396 Memo: IBRD 61 346 539 62 41 33 25 17 10 3 IDA 0 2 274 1,493 1,587 1,704 1,823 1,869 2,144 2,405 DISBURSEMENTS 374 599 164 272 84 250 261 213 170 96 Public and publicly guaranteed 363 593 162 272 64 200 251 153 170 86 Official creditors 22 311 117 222 64 200 251 153 170 86 Multilateral 6 56 106 211 64 198 249 152 169 86 Concessional 0 6 41 207 59 191 244 142 167 86 Bilateral 16 254 11 12 0 3 2 0 0 0 Concessional 16 237 9 3 0 2 2 0 0 0 Private creditors 341 282 46 50 0 0 0 0 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks 0 9 0 5 0 0 0 0 0 0 Other private 341 273 46 44 0 0 0 0 0 0 Private nonguaranteed 11 6 2 0 20 50 10 60 0 9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 11 6 2 0 20 50 10 60 0 9 Memo: IBRD 6 28 0 0 0 0 0 0 0 0 IDA 0 2 3 169 43 156 210 126 141 74 PRINCIPAL REPAYMENTS 41 212 101 165 132 58 98 38 126 176 Public and publicly guaranteed 35 180 101 161 128 53 80 33 115 158 Official creditors 6 36 44 108 80 51 79 32 114 158 Multilateral 4 18 39 76 57 39 51 21 28 28 Concessional 0 0 2 13 19 12 22 6 14 12 Bilateral 2 18 5 32 23 11 28 10 86 130 Concessional 1 3 0 20 8 3 18 7 45 67 Private creditors 29 144 57 53 48 2 1 1 1 1 Bonds 7 3 0 0 0 0 0 0 0 0 Commercial banks 0 4 0 1 0 2 0 0 0 0 Other private 22 137 57 52 48 0 1 1 1 1 Private nonguaranteed 6 31 0 4 4 6 18 5 11 18 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 6 31 0 4 4 6 18 5 11 18 Memo: IBRD 4 18 5 34 21 9 8 8 6 7 IDA 0 0 0 4 4 4 4 5 0 0 NET FLOWS ON DEBT 333 387 63 107 -49 192 163 174 44 -81 Public and publicly guaranteed 328 412 61 111 -65 148 171 120 55 -72 Official creditors 16 274 72 114 -17 150 172 121 55 -71 Multilateral 1 38 67 134 6 158 198 131 141 59 Concessional 0 6 39 194 40 179 222 137 153 74 Bilateral 15 236 5 -20 -23 -8 -26 -10 -86 -130 Concessional 15 234 9 -16 -8 -1 -17 -7 -45 -67 Private creditors 312 138 -11 -4 -48 -2 -1 -1 -1 -1 Bonds -7 -3 0 0 0 0 0 0 0 0 Commercial banks 0 5 0 5 0 -2 0 0 0 0 Other private 319 136 -11 -8 -48 0 -1 -1 -1 -1 Private nonguaranteed 5 -25 2 -4 16 44 -8 55 -11 -9 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 5 -25 2 -4 16 44 -8 55 -11 -9 Memo: IBRD 1 10 -5 -34 -21 -9 -8 -8 -6 -7 IDA 0 2 3 166 39 152 206 122 141 74 578 ZAMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 31 115 72 65 55 77 80 37 94 134 Public and publicly guaranteed 29 105 72 65 55 73 76 33 91 106 Official creditors 6 52 43 53 48 72 76 33 91 106 Multilateral 4 33 33 39 29 33 33 9 13 19 Concessional 0 0 3 15 14 17 19 7 10 15 Bilateral 2 19 10 14 19 40 42 24 78 86 Concessional 2 13 9 5 9 25 22 16 37 46 Private creditors 23 53 29 12 7 1 0 0 0 0 Bonds 3 1 0 0 0 0 0 0 0 0 Commercial banks 0 12 0 1 0 0 0 0 0 0 Other private 20 40 29 12 7 0 0 0 0 0 Private nonguaranteed 2 10 0 0 0 4 4 3 3 29 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 2 10 0 0 0 4 4 3 3 29 Memo: IBRD 4 31 1 6 4 3 3 2 1 1 IDA 0 0 0 10 11 12 13 7 5 9 NET TRANSFERS ON DEBT 302 273 -9 42 -103 115 83 138 -50 -215 Public and publicly guaranteed 299 307 -11 45 -119 75 95 86 -37 -178 Official creditors 10 222 29 61 -65 77 96 87 -36 -177 Multilateral -2 5 34 95 -23 126 165 122 128 40 Concessional 0 6 36 179 26 163 203 130 142 59 Bilateral 12 217 -5 -34 -42 -48 -69 -35 -164 -216 Concessional 13 221 0 -22 -17 -25 -38 -23 -83 -113 Private creditors 289 85 -40 -16 -55 -3 -1 -1 -1 -1 Bonds -10 -4 0 0 0 0 0 0 0 0 Commercial banks 0 -6 0 4 0 -2 0 0 0 0 Other private 299 96 -40 -20 -54 -1 -1 -1 -1 -1 Private nonguaranteed 3 -35 2 -4 16 40 -12 51 -14 -38 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 3 -35 2 -4 16 40 -12 51 -14 -38 Memo: IBRD -2 -21 -5 -41 -25 -12 -10 -10 -8 -8 IDA 0 2 3 155 28 140 193 115 135 65 DEBT SERVICE (LTDS) 72 326 173 230 187 135 177 75 220 311 Public and publicly guaranteed 64 286 173 226 183 126 156 66 206 264 Official creditors 12 89 87 161 128 123 155 65 205 263 Multilateral 8 51 72 116 87 72 84 30 41 47 Concessional 0 0 5 28 33 29 41 12 25 27 Bilateral 4 37 16 45 42 51 70 35 164 216 Concessional 3 16 9 25 17 28 40 23 83 113 Private creditors 52 197 85 66 55 3 1 1 1 1 Bonds 10 4 0 0 0 0 0 0 0 0 Commercial banks 0 15 0 1 0 2 0 0 0 0 Other private 42 177 85 64 54 1 1 1 1 1 Private nonguaranteed 8 41 0 4 4 10 22 9 14 47 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 8 41 0 4 4 10 22 9 14 47 Memo: IBRD 8 48 5 41 25 12 10 10 8 8 IDA 0 0 0 14 15 16 17 12 5 9 UNDISBURSED DEBT 309 877 690 507 529 551 599 491 376 320 Official creditors 291 679 587 503 529 551 599 491 376 320 Private creditors 18 198 103 4 0 0 0 0 0 0 Memorandum items Concessional LDOD 51 797 2,066 3,487 3,648 3,532 3,578 3,557 3,920 4,240 Variable rate LDOD 30 280 494 738 738 502 401 412 382 636 Public sector LDOD 624 2,107 4,551 5,209 5,284 4,472 4,418 4,364 4,720 5,023 Private sector LDOD 30 104 2 60 76 112 96 149 134 416 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 8.5 8.1 7.9 Deutsche mark 0.4 9.4 10.4 9.3 9.8 6.0 4.7 .. .. .. French franc 0.9 3.2 3.0 2.5 2.6 2.2 1.5 .. .. .. Japanese yen 0.0 4.8 10.0 10.6 12.5 16.0 13.9 11.9 11.7 11.9 Pound sterling 17.7 10.6 8.5 9.2 7.7 4.7 3.9 3.4 3.0 2.6 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 44.3 43.9 55.6 61.6 65.6 66.6 67.4 Multiple currency 9.9 16.7 17.5 7.0 6.7 7.6 6.9 6.3 5.9 5.8 Special drawing rights 0.0 0.0 1.0 0.1 0.2 0.4 0.5 0.5 0.5 0.5 All other currencies 17.4 35.0 21.0 16.9 16.6 7.4 7.0 3.7 4.0 3.9 579 ZAMBIA (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 7. DEBT RESTRUCTURINGS Total amount rescheduled .. .. 690 127 78 274 169 114 34 0 Debt stock rescheduled .. .. 38 0 0 0 0 0 0 0 Principal rescheduled .. .. 466 55 22 181 105 67 21 0 Official .. .. 342 55 22 181 105 67 21 0 Private .. .. 123 0 0 0 0 0 0 0 Interest rescheduled .. .. 321 72 55 92 63 47 11 0 Official .. .. 299 72 55 92 63 47 11 0 Private .. .. 22 0 0 0 0 0 0 0 Debt forgiven .. .. 114 1 2 53 39 38 31 32 Memo: interest forgiven .. .. 22 1 0 37 18 31 18 13 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 -400 211 -1,012 -137 -60 307 447 Net flows on debt 329 360 -127 -84 25 85 159 325 81 -150 Net change in interest arrears .. .. 29 -13 -3 -98 -3 -1 5 18 Interest capitalized .. .. 321 72 55 92 63 47 11 0 Debt forgiveness or reduction .. .. -140 -1 -2 -53 -39 -38 -31 -32 Cross-currency valuation .. .. 303 -693 -205 -100 -290 -232 356 445 Residual .. .. -34 319 341 -937 -28 -161 -116 167 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 4.2 6.7 8.1 1.7 0.8 0.8 0.8 0.9 0.8 0.8 Maturity (years) 20.6 18.6 16.2 32.6 39.4 39.6 39.6 43.2 39.5 39.8 Grace period (years) 10.2 4.4 4.8 7.4 9.9 10.1 10.1 15.1 10.0 10.3 Grant element (%) 42.8 22.1 14.8 64.7 80.2 80.4 80.4 81.4 80.3 80.7 Official creditors Interest (%) 1.4 3.7 6.3 0.5 0.8 0.8 0.8 0.9 0.8 0.8 Maturity (years) 32.6 29.0 21.8 37.9 39.4 39.6 39.6 43.2 39.5 39.8 Grace period (years) 21.6 8.5 6.9 8.9 9.9 10.1 10.1 15.1 10.0 10.3 Grant element (%) 79.2 48.9 26.3 76.6 80.2 80.4 80.4 81.4 80.3 80.7 Private creditors Interest (%) 6.6 8.8 11.0 7.0 0.0 0.0 0.0 0.0 0.0 0.0 Maturity (years) 10.4 11.0 6.9 7.8 0.0 0.0 0.0 0.0 0.0 0.0 Grace period (years) 0.5 1.4 1.4 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Grant element (%) 12.1 2.6 -4.1 8.8 0.0 0.0 0.0 0.0 0.0 0.0 Memorandum items Commitments 556 635 192 253 75 213 330 93 44 29 Official creditors 255 267 120 209 75 213 330 93 44 29 Private creditors 302 368 72 44 0 0 0 0 0 0 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 82 68 56 41 30 17 11 6 3 2 Principal 246 207 177 168 161 167 171 175 181 273 Interest 147 132 124 117 110 104 97 91 85 72 Official creditors Disbursements 82 68 56 41 30 17 11 6 3 2 Principal 190 159 145 150 145 152 156 160 167 178 Interest 116 109 104 100 95 90 86 81 77 72 Bilateral creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 126 93 74 75 76 79 81 81 85 90 Interest 84 79 75 72 69 65 62 58 54 50 Multilateral creditors Disbursements 82 68 56 41 30 17 11 6 3 2 Principal 64 65 72 75 69 73 74 79 82 88 Interest 32 30 29 27 26 25 24 23 22 22 Private creditors Disbursements 0 0 0 0 0 0 0 0 0 0 Principal 57 49 32 18 15 15 15 14 14 94 Interest 31 23 20 17 15 13 12 10 8 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 57 49 32 18 15 15 15 14 14 94 Interest 31 23 20 17 15 13 12 10 8 0 580 ZIMBABWE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 1. SUMMARY DEBT DATA TOTAL DEBT STOCKS (EDT) 232 786 3,279 4,866 4,581 4,310 3,816 3,579 3,875 4,445 Long-term debt (LDOD) 229 696 2,681 3,503 3,405 3,194 2,968 2,797 3,093 3,425 Public and publicly guaranteed 229 696 2,496 3,050 3,177 2,970 2,763 2,669 3,011 3,367 Private nonguaranteed 0 0 185 453 228 224 205 128 83 58 Use of IMF credit 0 0 7 385 407 369 281 262 280 302 Short-term debt 3 90 591 977 769 748 567 520 501 718 of which interest arrears on LDOD 3 0 0 0 1 1 54 148 270 383 Official creditors 3 0 0 0 1 1 40 117 223 320 Private creditors 0 0 0 0 0 1 14 31 47 63 Memo: principal arrears on LDOD 67 0 0 5 11 10 166 501 922 1,360 Official creditors 4 0 0 0 1 0 107 366 718 1,074 Private creditors 63 0 0 5 10 10 58 134 203 286 Memo: export credits 0 0 660 877 222 212 264 298 354 412 TOTAL DEBT FLOWS Disbursements 0 132 424 420 463 373 185 44 26 28 Long-term debt 0 132 424 420 410 339 185 44 26 28 IMF purchases 0 0 0 0 53 34 0 0 0 0 Principal repayments 5 40 270 444 736 446 281 116 49 41 Long-term debt 5 40 247 419 687 384 210 107 46 36 IMF repurchases 0 0 24 26 48 62 70 9 3 4 Net flows on debt -5 148 335 152 -482 -95 -329 -212 -165 91 of which short-term debt 0 55 181 176 -209 -21 -233 -141 -141 104 Interest payments (INT) 5 26 201 218 205 179 138 51 59 11 Long-term debt 5 10 149 164 153 129 80 28 51 4 IMF charges 0 0 2 10 10 9 10 2 0 0 Short-term debt 0 15 49 44 43 41 48 20 8 6 Net transfers on debt -9 122 134 -66 -687 -273 -467 -263 -224 80 Total debt service paid (TDS) 9 65 471 662 941 624 419 167 109 51 Long-term debt 9 50 396 582 840 513 291 135 97 41 IMF repurchases and charges 0 0 26 36 58 70 80 11 3 5 Short-term debt (interest only) 0 15 49 44 43 41 48 20 8 6 2. AGGREGATE NET RESOURCE FLOWS AND NET TRANSFERS (LONG-TERM) NET RESOURCE FLOWS -5 221 364 263 320 153 112 27 141 150 Net flow of long-term debt (ex. IMF) -5 93 177 2 -278 -45 -25 -63 -21 -8 Foreign direct investment (net) 0 2 -12 135 444 59 23 4 26 20 Portfolio equity flows 0 0 0 0 0 0 0 0 0 0 Grants (excluding technical coop.) 0 127 199 126 154 140 114 86 136 138 Memo: technical coop. grants 1 70 103 111 98 86 77 79 66 63 official net resource flows -5 199 278 196 201 134 124 96 161 155 private net resource flows 0 22 85 67 119 20 -13 -68 -20 -5 NET TRANSFERS -9 133 122 -19 67 -80 -41 -75 13 46 Interest on long-term debt 5 10 149 164 153 129 80 28 51 4 Profit remittances on FDI 0 78 92 118 101 105 73 74 77 100 Memo: official net transfers -9 197 212 91 108 39 74 85 158 154 private net transfers -1 -64 -90 -110 -41 -118 -115 -160 -145 -108 3. MAJOR ECONOMIC AGGREGATES Gross national income (GNI) 1,854 6,610 8,494 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 17 1 0 0 0 0 0 0 0 Imports of goods & services (MGS) .. 1,895 2,287 .. .. .. .. .. .. .. International reserves (RES) 59 419 295 384 310 480 321 119 132 .. Current account balance .. -149 -140 .. .. .. .. .. .. .. 4. DEBT INDICATORS EDT / XGS (%) .. 45.6 161.1 .. .. .. .. .. .. .. EDT / GNI (%) 12.5 11.9 38.6 60.7 85.7 83.7 54.8 40.6 .. .. TDS / XGS (%) .. 3.8 23.1 .. .. .. .. .. .. .. INT / XGS (%) .. 1.5 9.9 .. .. .. .. .. .. .. INT / GNI (%) 0.2 0.4 2.4 2.7 3.8 3.5 2.0 0.6 .. .. RES / EDT (%) 25.6 53.4 9.0 7.9 6.8 11.1 8.4 3.3 3.4 .. RES / MGS (months) .. 2.7 1.5 .. .. .. .. .. .. .. Short-term / EDT (%) 1.4 11.5 18.0 20.1 16.8 17.3 14.9 14.5 12.9 16.2 Concessional / EDT (%) 18.9 1.9 28.6 29.5 33.7 34.8 37.2 37.6 39.9 39.5 Multilateral / EDT (%) 17.5 0.4 19.4 29.8 33.0 33.9 35.4 36.1 36.5 34.7 581 ZIMBABWE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 5. LONG-TERM DEBT DEBT OUTSTANDING (LDOD) 229 696 2,681 3,503 3,405 3,194 2,968 2,797 3,093 3,425 Public and publicly guaranteed 229 696 2,496 3,050 3,177 2,970 2,763 2,669 3,011 3,367 Official creditors 85 101 1,540 2,583 2,751 2,604 2,436 2,348 2,651 2,962 Multilateral 41 3 637 1,449 1,512 1,462 1,351 1,293 1,414 1,543 Concessional 0 0 129 478 532 558 544 522 565 619 Bilateral 44 98 903 1,135 1,239 1,142 1,085 1,055 1,237 1,419 Concessional 44 15 810 960 1,010 940 876 824 982 1,138 Private creditors 145 595 956 467 425 366 327 320 360 405 Bonds 145 592 293 60 30 0 0 0 0 0 Commercial banks 0 3 208 150 172 194 180 178 220 253 Other private 0 0 456 257 223 173 147 143 140 152 Private nonguaranteed 0 0 185 453 228 224 205 128 83 58 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 185 453 228 224 205 128 83 58 Memo: IBRD 41 3 381 473 498 473 416 392 421 453 IDA 0 0 67 399 442 452 437 418 450 493 DISBURSEMENTS 0 132 424 420 410 339 185 44 26 28 Public and publicly guaranteed 0 132 297 275 282 289 139 39 26 28 Official creditors 0 77 158 245 222 208 125 33 26 26 Multilateral 0 0 72 191 104 117 44 -1 2 1 Concessional 0 0 7 92 39 44 15 -1 2 0 Bilateral 0 77 86 54 117 91 81 34 23 25 Concessional 0 1 76 28 43 67 35 0 23 12 Private creditors 0 55 139 31 61 81 15 6 0 1 Bonds 0 52 0 0 0 0 0 0 0 0 Commercial banks 0 3 29 26 47 72 11 6 0 1 Other private 0 0 111 5 13 8 3 0 0 1 Private nonguaranteed 0 0 127 145 128 50 46 5 0 0 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 127 145 128 50 46 5 0 0 Memo: IBRD 0 0 40 49 44 31 19 0 0 0 IDA 0 0 0 83 29 20 8 -2 0 0 PRINCIPAL REPAYMENTS 5 40 247 419 687 384 210 107 46 36 Public and publicly guaranteed 5 40 229 299 287 330 146 25 1 11 Official creditors 5 5 78 175 174 214 114 23 1 10 Multilateral 4 3 46 104 104 122 77 11 1 3 Concessional 0 0 4 6 4 4 1 0 0 1 Bilateral 1 2 32 71 69 92 37 12 0 7 Concessional 1 2 17 46 46 51 14 5 0 1 Private creditors 0 34 151 124 113 116 32 2 0 1 Bonds 0 19 30 30 30 30 0 0 0 0 Commercial banks 0 0 46 42 31 36 10 2 0 0 Other private 0 16 75 52 52 50 22 1 0 1 Private nonguaranteed 0 0 18 120 401 54 65 81 46 25 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 18 120 401 54 65 81 46 25 Memo: IBRD 4 3 33 46 47 51 46 11 0 0 IDA 0 0 0 1 1 0 0 0 0 0 NET FLOWS ON DEBT -5 93 177 2 -278 -45 -25 -63 -21 -8 Public and publicly guaranteed -5 93 68 -23 -5 -41 -6 14 25 16 Official creditors -5 72 80 70 48 -6 11 10 25 16 Multilateral -4 -3 26 87 0 -5 -33 -12 2 -2 Concessional 0 0 3 86 35 40 14 -1 2 -1 Bilateral -1 75 54 -17 48 -1 44 22 23 18 Concessional -1 -1 59 -18 -4 16 21 -4 23 10 Private creditors 0 21 -11 -93 -52 -35 -17 4 0 0 Bonds 0 34 -30 -30 -30 -30 0 0 0 0 Commercial banks 0 3 -17 -16 16 37 1 5 0 1 Other private 0 -16 36 -47 -39 -42 -18 -1 0 -1 Private nonguaranteed 0 0 109 25 -273 -4 -19 -77 -46 -25 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 109 25 -273 -4 -19 -77 -46 -25 Memo: IBRD -4 -3 7 3 -3 -20 -27 -11 0 0 IDA 0 0 0 83 28 20 7 -2 0 0 582 ZIMBABWE (US$ million, unless otherwise indicated) 1970 1980 1990 1997 1998 1999 2000 2001 2002 2003 INTEREST PAYMENTS (LINT) 5 10 149 164 153 129 80 28 51 4 Public and publicly guaranteed 5 10 141 141 124 120 63 15 7 1 Official creditors 4 1 67 105 93 95 51 11 2 1 Multilateral 2 0 43 74 66 65 37 4 1 0 Concessional 0 0 1 4 5 4 2 0 0 0 Bilateral 2 1 24 30 27 30 14 7 2 1 Concessional 2 1 15 19 17 18 6 3 1 0 Private creditors 0 9 74 36 30 25 13 4 4 0 Bonds 0 7 13 3 2 1 0 0 0 0 Commercial banks 0 0 28 10 10 10 5 2 2 0 Other private 0 1 33 22 19 15 8 2 2 0 Private nonguaranteed 0 0 9 23 29 8 17 13 44 3 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 9 23 29 8 17 13 44 3 Memo: IBRD 2 0 33 36 32 32 26 4 0 0 IDA 0 0 0 2 3 3 1 0 0 0 NET TRANSFERS ON DEBT -9 82 28 -162 -430 -174 -105 -91 -72 -13 Public and publicly guaranteed -9 82 -72 -164 -128 -161 -70 -1 18 15 Official creditors -9 71 13 -34 -45 -101 -40 -1 22 15 Multilateral -6 -3 -17 13 -66 -70 -70 -16 1 -2 Concessional 0 0 1 82 30 35 13 -1 1 -1 Bilateral -3 74 30 -47 21 -31 30 15 21 17 Concessional -3 -2 43 -37 -20 -2 15 -7 22 10 Private creditors -1 12 -85 -130 -83 -60 -30 0 -4 0 Bonds -1 26 -43 -33 -32 -31 0 0 0 0 Commercial banks 0 3 -46 -27 7 27 -3 3 -2 1 Other private 0 -17 3 -69 -57 -56 -26 -2 -2 -1 Private nonguaranteed 0 0 100 2 -302 -13 -36 -90 -90 -28 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 100 2 -302 -13 -36 -90 -90 -28 Memo: IBRD -6 -3 -26 -33 -35 -51 -53 -15 0 0 IDA 0 0 0 80 25 17 6 -2 0 0 DEBT SERVICE (LTDS) 9 50 396 582 840 513 291 135 97 41 Public and publicly guaranteed 9 50 370 439 410 450 209 40 8 13 Official creditors 9 7 145 279 267 309 165 34 3 11 Multilateral 6 3 89 178 170 187 114 15 1 3 Concessional 0 0 5 10 8 8 2 0 0 1 Bilateral 3 3 56 101 97 122 51 19 2 8 Concessional 3 3 33 65 63 68 20 8 1 1 Private creditors 1 43 225 160 143 141 44 6 4 1 Bonds 1 26 43 33 32 31 0 0 0 0 Commercial banks 0 0 74 53 41 45 14 4 2 0 Other private 0 17 107 74 70 65 30 2 2 1 Private nonguaranteed 0 0 27 143 430 63 82 95 90 28 Bonds 0 0 0 0 0 0 0 0 0 0 Commercial banks and other 0 0 27 143 430 63 82 95 90 28 Memo: IBRD 6 3 66 82 79 83 72 15 0 0 IDA 0 0 0 3 4 3 2 0 0 0 UNDISBURSED DEBT 0 86 1,275 1,132 1,279 1,187 1,029 734 449 403 Official creditors 0 60 1,160 992 1,118 1,094 955 679 422 394 Private creditors 0 26 115 141 161 93 74 55 27 9 Memorandum items Concessional LDOD 44 15 938 1,438 1,541 1,498 1,420 1,346 1,547 1,757 Variable rate LDOD 0 3 699 945 746 719 650 552 536 545 Public sector LDOD 229 696 2,495 3,043 3,169 2,962 2,756 2,661 3,003 3,359 Private sector LDOD 0 0 186 460 235 231 212 136 90 66 6. CURRENCY COMPOSITION OF LONG-TERM DEBT (PERCENT) Euro .. .. .. .. .. .. .. 28.7 30.6 33.6 Deutsche mark 0.0 0.1 11.5 10.7 11.5 11.4 11.7 .. .. .. French franc 0.0 0.0 8.7 8.4 8.7 7.9 6.8 .. .. .. Japanese yen 0.0 0.0 2.1 3.0 3.3 4.9 5.4 4.9 5.3 5.3 Pound sterling 76.2 40.3 13.8 6.1 5.5 6.0 5.5 5.4 5.9 5.8 Swiss franc 0.0 0.0 0.9 0.6 0.5 0.4 0.4 0.4 0.4 0.4 U.S.dollars 0.3 0.4 29.9 28.2 28.2 27.8 29.6 31.0 29.4 27.6 Multiple currency 20.2 59.2 18.1 27.4 26.7 26.7 25.9 25.7 24.3 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 14.9 15.2 15.1 14.6 14.2 3.5 3.6 3.5 583 ZIMBABWE (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 0 0 1 Debt stock rescheduled .. .. 0 0 0 0 0 0 0 0 Principal rescheduled .. .. 0 0 0 0 0 0 0 1 Official .. .. 0 0 0 0 0 0 0 1 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 5 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 .. .. 459 -118 -286 -270 -494 -237 296 570 Net flows on debt -5 148 335 152 -482 -95 -329 -212 -165 91 Net change in interest arrears .. .. -1 0 1 0 53 94 122 113 Interest capitalized .. .. 0 0 0 0 0 0 0 0 Debt forgiveness or reduction .. .. -24 0 0 -5 0 0 0 0 Cross-currency valuation .. .. 148 -277 37 -166 -167 -124 265 316 Residual .. .. 0 7 158 -6 -51 5 73 50 9. AVERAGE TERMS OF NEW COMMITMENTS ALL CREDITORS Interest (%) 0.0 7.1 6.5 5.3 2.5 1.3 5.0 7.1 3.6 4.0 Maturity (years) 0.0 15.2 21.9 16.0 21.7 19.8 12.8 8.1 21.7 17.1 Grace period (years) 0.0 5.5 4.4 3.7 6.0 5.3 3.6 1.6 7.2 4.5 Grant element (%) 0.0 25.8 21.9 27.3 52.6 56.8 27.1 9.9 46.1 35.7 Official creditors Interest (%) 0.0 4.9 6.4 4.1 1.6 0.9 4.8 7.1 3.5 4.0 Maturity (years) 0.0 16.8 23.1 20.5 24.7 21.0 12.9 8.1 22.0 17.4 Grace period (years) 0.0 5.7 4.7 4.8 6.9 5.6 3.6 1.6 7.3 4.6 Grant element (%) 0.0 35.6 22.9 39.0 61.5 60.8 28.0 9.9 47.2 36.2 Private creditors Interest (%) 0.0 17.2 7.2 7.1 6.7 5.0 6.9 7.4 8.5 4.0 Maturity (years) 0.0 7.8 10.5 9.2 8.4 8.0 12.4 10.1 11.3 12.1 Grace period (years) 0.0 4.5 1.5 2.0 2.1 2.5 3.1 1.1 2.8 2.9 Grant element (%) 0.0 -18.7 11.9 9.5 12.2 18.1 14.6 9.7 6.1 27.8 Memorandum items Commitments 0 171 468 300 412 227 42 34 3 22 Official creditors 0 140 425 180 338 205 39 33 3 21 Private creditors 0 31 43 120 75 21 3 0 0 1 10. CONTRACTUAL OBLIGATIONS ON OUTSTANDING LONG-TERM DEBT 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TOTAL Disbursements 156 106 64 38 20 10 6 2 1 0 Principal 353 310 258 246 222 181 153 136 102 90 Interest 85 72 61 51 42 34 27 22 18 16 Official creditors Disbursements 148 104 63 38 20 10 6 2 1 0 Principal 307 274 230 219 197 169 150 134 101 88 Interest 76 65 56 47 40 33 27 22 18 16 Bilateral creditors Disbursements 112 75 43 24 11 6 3 1 0 0 Principal 133 131 108 98 85 72 70 64 59 51 Interest 27 25 22 20 18 16 15 13 12 10 Multilateral creditors Disbursements 36 29 20 13 9 5 3 1 1 0 Principal 174 143 122 121 111 97 80 70 42 38 Interest 48 40 33 27 22 17 13 9 6 5 Private creditors Disbursements 7 2 0 0 0 0 0 0 0 0 Principal 46 36 28 27 25 11 3 2 1 1 Interest 9 7 5 4 2 1 0 0 0 0 Commercial banks Disbursements 4 0 0 0 0 0 0 0 0 0 Principal 23 19 12 12 10 9 2 0 0 0 Interest 5 4 3 2 1 1 0 0 0 0 Other private Disbursements 3 1 0 0 0 0 0 0 0 0 Principal 23 17 16 15 15 3 1 1 1 1 Interest 4 3 2 2 1 0 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 publicly guaranteed debt as of 2003 are based on rescheduling 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 2003 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 data are World Bank staff estimates. a debt buyback operation in 1996. Short-term debt data are from the BIS semiannual series on international bank lending and short- Algeria term export credits from the OECD. Data source. Data on long-term public and Debt reduction. In March 1993 Argentina publicly guaranteed debt as of 2003 are actual, concluded a debt and debt service reduction ex- based on reports provided by the country. Short- changing its commercial bank debt to either par or term debt data and long-term private nonguaran- discount bonds for a total face value of $17 bil- teed debt are as reported by the country. lion. Interest arrears were also swapped into Rescheduling. Projected debt service is based bonds at par with a face value of $8.2 billion, after on contractual obligations on debt outstanding at a down payment of $910 million. These opera- the end of 2003. It includes the effects of all Paris tions enabled Argentina to reduce its stock of debt Club agreements signed until December 2003 and by $3.3 billion in 1993, $399 million in 1994, and the commercial bank agreement signed in July $863 million in 1995. Data for 2000 include debt 1996. buybacks. Other. The residual in debt stock-flow recon- Angola ciliation is due to data revisions introduced in Data source. Data on long-term public and 1993. It includes the effects of the 2001 mega bond publicly guaranteed debt for 2003 are preliminary swap operation. Historical data revisions are due and based on reports provided by the country. to the reversing process of converting to $US the Short-term debt data are from the BIS semiannual debt that previously converted to Argentina Pesos. series on international bank lending and short- term export credits from the OECD, supplemented Armenia by World Bank staff estimates. Data source. Data on long-term public and Rescheduling. It includes the effects of all publicly guaranteed debt for 2003 are actual, Paris Club agreements signed until December based on reports provided by the country. Short- 2003. 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 ex- a debt restructuring agreement with the Russian port credits from the OECD. 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 5 Rescheduling. In 1993, $30.8 million of tech- reports provided by the country. Short-term debt nical credits were rescheduled with the Russian data are from the BIS semiannual series on inter- Federation, and in 1996, $34.0 million were national bank lending and short-term export cred- rescheduled with bilateral creditors. its from the OECD. Rescheduling. Projected debt service is based Azerbaijan on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2003. It includes the effects of all Paris publicly guaranteed debt for 2003 are preliminary Club agreements signed until December 2003. based on reports provided by the country. Short- term debt data are based on government statistics. Bhutan Rescheduling. In 1993, $36 million of techni- Data source. Data on long-term public and cal credits were rescheduled with the Russian publicly guaranteed debt for 2003 are based on Federation. reports provided by the country. Short-term debt data are from the BIS semiannual series on inter- Bangladesh national bank lending and short-term export cred- Data source. Data on long-term public and its from the OECD. publicly guaranteed debt for 2003 are based on reports provided by the country. Short-term debt Bolivia 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 and on private nonguar- its from the OECD. anteed debt for 2003 are based on reports pro- vided by the country. Short-term debt data are Barbados from BIS semiannual series of international bank Data source. Data on long-term public and lending and short-term data. publicly guaranteed debt for 2003 are based on Rescheduling. Projected debt service is based World Bank Staff estimates. Short-term debt data on contractual obligations on debt outstanding at are from the BIS semiannual series on interna- the end of 2003. It includes the effects of all Paris tional bank lending and short-term export credits Club agreements, signed until December 2003. from the OECD. Bosnia and Herzegovina Belarus Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on publicly guaranteed debt for 2003 are actual, reports provided by the country. Prior to 1999 data based on reports provided by the country. Short- on long-term public and publicly guaranteed debt term debt data have been revised from 1996, include only the IBRD and IMF. Short-term debt based on data from the National Bank of the data are from the BIS semiannual series on inter- Republic of Belarus. national bank lending and short-term export cred- Rescheduling. In 1993, $385 million of tech- its from the OECD. nical credits were rescheduled with the Russian Rescheduling. Projected debt service is based Federation. on contractual obligations on debt outstanding at the end of 2003. It includes the effects of all Paris Belize Club agreements signed until December 2003. Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on Botswana 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 2003 are based on reports provided by the country. Short-term debt Benin 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 2003 are based on its from the OECD. 586 C O U N T R Y N O T E S Brazil Burundi Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed and private nonguaranteed publicly guaranteed debt for 2003 are based on re- debt for 2003 are preliminary, based on partial ports 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- Rescheduling. From 1983 onward, the in- its from the OECD. crease in long-term public and publicly guaranteed Rescheduling. Projected debt service is based debt is due to the transfer of liabilities from private on contractual obligations on debt outstanding at nonguaranteed and short-term debt as a result of the end of 2003. It includes the effect of the can- Paris Club and commercial bank restructuring. In cellation of all concessional debt owed to Belgium, 1992 an agreement was reached with Paris Club France, the Republic of Korea, and the Russian creditors to reschedule $6.2 billion, of which $5.1 Federation. In 1989 Burundi rescheduled $13.3 billion corresponded to rescheduling of arrears and million of debt owed to China. debt service due in 1992. Brazil also rescheduled $7.1 billion of interest in arrears with commercial Cambodia banks. Interest payments for 1992 include a $836 Data source. Data on long-term public and million cash payment on the interest arrears. publicly guaranteed debt for 2003 are based on Debt reduction. Debt owed to commercial reports provided by the country. Short-term debt banks at the end of 1994 was reduced by $4.1 bil- data are from the BIS semiannual series on inter- lion as a result of the April 1994 Brady accord. national bank lending and short-term export cred- Data for 2003 include debt buybacks. its from the OECD. Rescheduling. Projected debt service is based Bulgaria on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2003. It includes the effects of all Paris publicly guaranteed and private nonguaranteed Club agreements signed until December 2003. debt for 2003 are based on reports provided by the country. Short-term debt data have been Cameroon revised from 1996 based on data from Bulgaria Data source. Data on long-term and publicly National Bank. guaranteed debt for 2003 are based on reports Rescheduling. Projected debt service is based provided by the country. Long-term private on contractual obligations on debt outstanding at nonguaranteed debt data are World Bank Staff the end of 2003. It includes the effects of the Paris estimates. Short-term debt data are from the Club agreements signed in 1991, 1992, and 1994. BIS semiannual series on international bank lend- Commercial bank creditors agreed to restructure ing and short-term export credits from the $8.3 billion of external public debt in July 1994. It OECD. includes the effects of the exchange of Brady Rescheduling. Projected debt service is based Bonds for Global Bonds in 2002. on contractual obligations on debt outstanding at the end of 2003. It includes the effects of all Paris Burkina Faso Club agreements signed until December 2003. Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on re- Cape Verde ports 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 debt for 2003 are partially national bank lending and short-term export cred- based on the reports provided by the country. Short- its from the OECD. term debt data are World Bank staff estimates. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at Central African Republic the end of 2003. It includes the effects of all Paris Data source. Data on long-term public and Club agreements signed until December 2003. publicly guaranteed debt for 2003 are based on 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 5 reports provided by the country. Short-term debt nary estimates based on reported aggregate data. data are from the BIS semiannual series on inter- State-owned enterprises are responsible for ser- national bank lending and short-term export vicing their external debt exposures, and their credits from the OECD. obligations are not guaranteed by the Ministry of Rescheduling. Projected debt service is based Finance. Short-term and private nonguaranteed on contractual obligations on debt outstanding at debt data for 1999­2003 are reported by the the end of 2003. It includes the effects of all Paris country. Club agreements signed until December 2003. Colombia Chad Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on re- publicly guaranteed debt for 2003 are based on ports provided by the country. Data on long-term reports provided by the country. Short-term debt private nonguaranteed debt are World Bank staff data are from the BIS semiannual series on inter- estimates. Short-term debt data are World Bank national bank lending and short-term export cred- staff estimates. its from the OECD. Rescheduling. Projected debt service is based Comoros on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2003. It includes the effect of the debt publicly guaranteed debt for 2003 are based on relief agreement signed in 1989, concluded out- reports provided by the country. Short-term debt side the Paris Club. In addition, it includes the data are from the BIS semiannual series on inter- effects of all Paris Club agreements signed until national bank lending and short-term export cred- December 2003. its from the OECD. Chile Congo, Democratic Republic of 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 2003 are based on short-term debt for 2003 are based on reports pro- reports provided by the country. Short-term debt vided by the country. Short-term debt data for data are from the BIS semiannual series on inter- 1990­02 have been revised. 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. Projected debt service is based the end of 2003. It includes the effect of a 1990 on contractual obligations on debt outstanding at agreement with commercial banks under which the end of 2003. It includes the effects of all Paris there was no repayment of principal during Club agreements signed until December 2003. 1991­94. The data also reflect the forgiveness of $15 million and the rescheduling of $132 million Congo, Republic of under the Enterprise for the Americas Initiative. Data source. Data on long-term public and Debt reduction. By end-1993 reduction of publicly guaranteed debt for 2003 are World debt owed to commercial banks through various Bank staff estimates. Short-term debt data are debt conversion programs reached $8.7 billion, in- from the BIS semiannual series on international cluding $2.5 billion in 1988, $2.5 billion in 1989, bank lending and short-term export credits from $1.1 billion in 1990, $496 million in 1991, $279 the OECD. million in 1992, and $264 million in 1993. Also, Rescheduling. Projected debt service is based 1988 principal repayments include a $164 million on contractual obligations on debt outstanding at cash payment in connection with a buyback. the end of 2003. It includes the effects of all Paris Club agreements signed until December 2003. In China 1986, in addition to Paris Club, the government Data source. Data on long-term public and rescheduled with Eastern Bloc creditors. Under the publicly guaranteed debt and private nonguaran- 1986 Brazzaville Club agreement, $23 million was teed debt for 2003 are World Bank staff prelimi- rescheduled. 588 C O U N T R Y N O T E S Costa Rica data are based on World Bank staff estimates. Data source. Data on long-term public and Data includes the effects of all Paris Club agree- publicly guaranteed debt for 2003 are based on ments signed until December 2003. reports provided by the country. Long-term pri- vate nonguaranteed debt data are World Bank Dominica 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 2003 are based on ing and short-term export credits from the OECD. reports provided by the country. Short-term debt data are from the BIS semiannual series on inter- Côte d'Ivoire national bank lending and short-term export cred- Data source. Data on long-term public and its from the OECD publicly guaranteed debt for 2003 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- assistance loans, about $1.7 million, in 1990. term private nonguaranteed debt data are World Bank staff estimates. Short-term debt data are Dominican Republic 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 2003 are based on 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 2003. It includes the effects of all Paris its from the OECD. Club agreements signed until December 2003. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at Croatia the end of 2003. It includes the effects of all Paris Data source. Data on long-term public and Club agreements signed until December 2003 and publicly guaranteed and private nonguaranteed debt service reduction agreement to restructure debt for 2003 are based on reports provided by $1.2 billion owed to commercial banks. the country. Short-term debt data are from the Croatia National Bank. Ecuador Other. Croatia became a member of the Data source. Data on long-term public and World Bank in 1993. Debt data includes the publicly guaranteed and private nonguaranteed effects of all Paris Club agreements signed until debt for 2003 are World Bank staff estimates. December 2003 and the London Club agreement Short-term debt data are based on reports pro- signed in March 1996. vided by the country. Rescheduling. Projected debt service is based Czech Republic on contractual obligations on debt outstanding Data source. Data on long-term public and at the end of 2003. It includes the effects of the publicly guaranteed, private nonguaranteed, and Paris Club agreement on Houston terms signed in short-term debt for 2003 are preliminary, based on June 2003. partial reports provided by the country. Debt reduction. The debt conversion program Other. The Czech Republic became a member was continued in 1992, enabling the country to re- of the World Bank in 1993. Data for 1985­92 are duce its stock of debt due to private creditors by based on preliminary information on the succes- about $50 million, bringing the total for 1987­92 sion of the former Czechoslovakia (effective Janu- to $539 million. Debt reduction resulting from the ary 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 2003 are based on publicly guaranteed debt for 2003 and revised reports provided by the country. Short-term debt data for 1991­95 due to the third stage of the 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 5 1991 Paris Club agreement are based on reports data are from the BIS semiannual series on interna- provided by the country. Data on private nonguar- tional bank lending and short-term export credits anteed debt are World Bank staff estimates. Short- from the OECD. The data include debt contracted term debt data are from the BIS semiannual series from commercial sources for military expenditures. on international bank lending and short-term ex- Rescheduling. Projected debt service is based port credits from OECD. on contractual obligations on debt outstanding at Rescheduling. Projected debt service is based the end of 2003. It includes the effects of all Paris on contractual obligations on debt outstanding at Club agreements signed until December 2003, and the end of 2003. It includes the effects of the third the debt forgiveness operation from the Russian stage of the Paris Club agreement signed in May Federation. 1991. Fiji El Salvador Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on re- publicly guaranteed debt for 2003 are based on re- ports provided by the country. Long-term private ports provided by the country. Long-term private nonguaranteed debt data are World Bank staff nonguaranteed debt data are World Bank staff es- estimates. Short-term debt data are from the BIS timates. Short-term debt data are World Bank staff semiannual series on international bank lending estimates. and short-term export credits from the OECD. Equatorial Guinea Gabon Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are estimates publicly guaranteed debt for 2003 are based on based on the original terms of the loans. Short- reports provided by the country. Short-term debt term debt data are from the BIS semiannual series data are from the BIS semiannual series on inter- on international bank lending and short-term ex- national bank lending and short-term export cred- port credits from the OECD. its from the OECD. 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 2003. It includes the effects of all Paris the end of 2003. It includes the effects of all Paris Club agreements signed until December 2003. Club agreements signed until December 2003. Eritrea Gambia, The Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on publicly guaranteed debt for 2003 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 from the BIS semiannual series on inter- national bank lending and short-term export cred- national bank lending and short-term export cred- its from the OECD. its from the OECD. Rescheduling. Projected debt service is based Estonia on contractual obligations on debt outstanding at Data source. Data on long-term public debt the end of 2003. It includes the effects of all Paris for 2003 are based on reports provided by the Club agreements signed until December 2003. country. Private nonguaranteed and short-term debt data have been revised starting from 1996 Georgia based on official government statistics. Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on Ethiopia 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 debt for 2003 are based on national bank lending and short-term export cred- reports provided by the country. Short-term debt its from the OECD. 590 C O U N T R Y N O T E S Rescheduling. In 1993 a total of $366 million Guinea-Bissau of technical credits were rescheduled with Data source. Data on long-term public and Armenia ($10.6 million), Azerbaijan ($2.1 mil- publicly guaranteed debt for 2003 are World Bank lion), Kazakhstan ($17.9 million), the Russian staff estimates. Short-term debt data are from the Federation ($135.0 million), and Turkmenistan BIS semiannual series on international bank lend- ($200.8 million). In 1996, $634 million were ing and short-term export credits from the OECD. rescheduled with bilateral creditors. It includes the Rescheduling. Projected debt service is based effects of all Paris Club agreements signed until on contractual obligations on debt outstanding at December 2003. It does not include the effects of the end of 2003. It includes the effects of all Paris the Paris Club agreement signed on July, 21, 2004. Club agreements signed until December 2003. Ghana Guyana Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on publicly guaranteed and private nonguaranteed partial reports provided by the country and World debt for 2003 are based on reports provided by Bank Staff estimates. Long-term private nonguar- the country. Short-term debt data are from the BIS anteed debt data are World Bank staff estimates. semiannual series on international bank lending Short-term debt data are from the BIS semiannual and short-term export credits from the OECD. series on international bank lending and short- term export credits from the OECD. Haiti Rescheduling. Projected debt service is based Data source. Data on long-term public and on contractual obligations on debt outstanding at publicly guaranteed debt as of end-September the end of 2003. It includes the effects of all Paris 2003 are based on reports provided by the coun- Club agreements signed until December 2003. try. Short-term debt data are from the BIS semian- nual series on international bank lending and Grenada short-term export credits from the OECD. Data source. Data on public and publicly guar- anteed debt for 2003 are based on reports provided Honduras by the country. Short-term debt data are from the Data source. Data on long-term public and BIS semiannual series on international bank lend- publicly guaranteed and private nonguaranteed ing and short-term export credits from the OECD. debt for 2003 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 2003 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 2003. It includes the effects of all Paris estimates. Short-term debt data are from the BIS Club agreements signed until December 2003. semiannual series on international bank lending Debt reduction. In August 2001, the first and short-term export credits from the OECD. phase of debt buyback operation, funded by IDA Debt Reduction Facility and co-financed by Guinea the governments of Netherlands, Norway, and Data source. Data on long-term public and Switzerland was completed. This operation extin- publicly guaranteed debt for 2003 are World Bank guished $13 million of the total $14.5 million of staff estimates. Short-term debt data are from the eligible debt. BIS semiannual series on international bank lend- ing 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 2003. It includes the effects of all Paris debt for 2003 are based on reports provided by Club agreements signed until December 2003. the country. Short-term debt data are from the BIS 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 5 semiannual series on international bank lending bank lending and short-term export credits from and short-term export credits from the OECD. the OECD. Rescheduling. Projected debt service is based India on contractual obligations on debt outstanding at Data source. Data relate to the year ending in the end of 2003. It reflects the effects of all Paris March (latest data are for the year ending in Club agreements signed until December 2003. March 2004). Long-term public and publicly guar- anteed, private nonguaranteed, and short-term Kazakhstan debt as of the end of March 2004 are based on re- Data source. Data on long-term public and ports provided by the country and World Bank publicly guaranteed and private nonguaranteed staff estimates. debt for 2003 are based on reports provided by the country. Private nonguaranteed debt includes Indonesia only registered private debt of National Bank of Data source. Data on long-term public and Kazakhstan. Short-term debt data have been re- publicly guaranteed debt for 2003 are preliminary vised from 2000 based on data from the National based on partial reports provided by the country. Bank of Kazakhstan. Short-term debt data are World Bank staff Rescheduling. In 1993, $1.3 billion of techni- estimates. (The debt data may include indistin- cal credits were rescheduled with the Russian guishable local currency components held by Federation. nonresidents.) Other. The residual in debt stock flow recon- Kenya ciliation from 1994 onward reflects the private Data source. Data on long-term public and nonguaranteed stock revisions introduced without publicly guaranteed debt for 2003 are actual, corresponding flow data adjustments. based on reports provided by the country. Long- Rescheduling. Projected debt service is based term private nonguaranteed debt are World Bank on contractual obligations on debt outstanding at staff estimates. Short-term debt data are from the the end of 2003. It includes the effects of all Paris BIS semiannual series on international bank lend- Club agreements signed until December 2003. ing and short-term export credits from the OECD. Iran, Islamic Republic of Rescheduling. Projected debt service is based Data source. Data relate to the year ending in on contractual obligations on debt outstanding at March. Long-term public and publicly guaranteed the end of 2003. It includes the effects of all Paris debt and short-term debt as of end-March 2003 Club agreements signed until December 2003. The are based on aggregate reports provided by the January 2004 Paris Club agreement is not re- country. Long-term private nonguaranteed debt flected in the data. are World Bank staff estimates. Kyrgyz Republic Jamaica Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on publicly guaranteed debt for 2003 are based on re- reports provided by the country. Short-term debt ports provided by the country. Long-term private data are from the BIS semiannual series on inter- nonguaranteed debt data are World Bank staff national bank lending and short-term export cred- estimates. Short-term debt data are from the BIS its from the OECD. semiannual series on international bank lending Rescheduling. In 1993 a total of $125.8 and short-term export credits from the OECD. million-of technical credits were rescheduled with Kazakhstan ($31.5 million), the Russian Federa- Jordan tion ($81.0 million), and Uzbekistan ($13.3 mil- Data source. Data on long-term public and lion). In 1996, $220.4 million were rescheduled publicly guaranteed debt for 2003 are based on re- with bilateral creditors. It includes the effects of all ports provided by the country. Short-term debt data Paris Club agreements signed until December are from the BIS semiannual series on international 2003. 592 C O U N T R Y N O T E S Lao People's Democratic Republic debt for 2003 are based on reports provided by Data source. Data on long-term public and the country. Short-term debt data are World Bank publicly guaranteed debt for 2003 are World Bank staff estimates. staff estimates and based on reports provided by Other. The former Yugoslav Republic of the country and include both convertible and non- Macedonia became a member of the World Bank in convertible currency obligations. Short-term debt 1993. Debt outstanding as of end-1993 reflect only data are from the BIS semiannual series on inter- loans used directly by Macedonian beneficiaries. 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 2003. It includes the effects of all Paris Latvia Club agreements signed until December 2003. Data source. Data on long-term public debt for 2003 are based on reports provided by the country. Madagascar Private nonguaranteed and short-term debt data Data source. Data on long-term public and have been revised starting from 1996, based on publicly guaranteed debt for 2003 are World reports provided by the country. Bank staff estimates. Short-term debt data are from the BIS semiannual series on international Lebanon bank lending and short-term export credits from Data source. Data on long-term public and the OECD. publicly guaranteed debt for 2003 are based on Rescheduling. Projected debt service is based reports provided by the country. Short-term debt on contractual obligations on debt outstanding data are from the BIS semiannual series on inter- at the end of 2003. It includes the effects of all national bank lending and short-term export cred- Paris Club agreements signed until December its from the OECD. 2003 and the 1990 commercial bank rescheduling arrangements. Lesotho Data source. Data on long-term public and Malawi publicly guaranteed debt for 2003 are based on Data source. Data on long-term public and reports provided by the country. Short-term debt publicly guaranteed debt for 2003 are World Bank data are World Bank staff estimates. Principal and staff estimates. Short-term debt data are from the interest arrears have been revised since 1995, as BIS semiannual series on international bank lend- reported by the country. ing and short-term export credits from the OECD. Rescheduling. Projected debt service is based Liberia on contractual obligations on debt outstanding at Data source. Data on long-term public and the end of 2003. It includes the effects of all Paris publicly guaranteed debt for 2003 are estimates Club agreements signed until December 2003. based on the original terms of the loans. Short- term debt data are World Bank staff estimates. Malaysia Data source. Data on long-term public and Lithuania publicly guaranteed and private nonguaranteed Data source. Data on long-term public and debt for 2003 are based on reports provided by publicly guaranteed debt for 2003 are based on re- the country. Short-term debt data are based on ports provided by the country. Long-term private official government data. nonguaranteed debt data are World Bank staff estimates. Short-term debt data have been revised Maldives starting from 1996 based on government statistics. Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on Macedonia, former Yugoslav reports provided by the country. Short-term debt Republic of 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 and private nonguaranteed its from the OECD. 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 5 Mali the government, swapped liabilities to meet the Data source. Data on long-term public and ceiling on borrowings. publicly guaranteed debt for 2003 are based on Debt reduction. The decline in private reports provided by the country. Short-term debt nonguaranteed debt in 1988 is due primarily to data are from the BIS semiannual series on inter- prepayment and swaps operations. The debt re- national bank lending and short-term export cred- duction in 1989 of $2.5 billion comprised debt- its from the OECD. equity swaps of $800 million and buybacks of Rescheduling. Projected debt service is based $1.7 billion. In 1990 swaps amounted to $846 mil- on contractual obligations on debt outstanding at lion, and debt reduction from discount bonds to the end of 2003. It includes the effects of all Paris $7.3 billion. The debt conversion program contin- Club agreements signed until December 2003. ued in 1991 and amounted to $1.1 billion, includ- ing privatization of $431 million and debt-equity Mauritania swaps of $95 million. In 1992, $7.5 billion was Data source. Data on long-term public and bought back for $5.2 billion, which is shown publicly guaranteed debt for 2003 are based on under principal repayments. Also, $137 million reports provided by the country. Short-term debt was converted from foreign debt to equity. The in- data are from the BIS semiannual series on inter- crease in 1995 in long-term debt includes the stock national bank lending and short-term export cred- transfer of the "Tesobonos." Data for 2000 in- its from the OECD. clude debt buybacks. Rescheduling. Projected debt service is based Other. Data include partial Pidiregas debt in on contractual obligations on debt outstanding at 2000, 2001, 2002, and 2003. the end of 2003. It includes the effects of all Paris Club agreements signed until December 2003. 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 2003 are based on Qatar, and Saudi Arabia. reports provided by the country. Short-term debt data are based on government statistics and World Mauritius Bank staff estimates. Rescheduling. In 1993, $89 Data source. Data on long-term public and million of technical credits were rescheduled with publicly guaranteed and private nonguaranteed the Russian Federation. In 1996, $118.8 million debt for 2003 are based on reports provided by were rescheduled with bilateral creditors. the country. Short-term debt data are from the BIS semiannual series on international bank lending Mongolia and short-term export credits from the OECD. Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on Mexico reports provided by the country. Short-term debt Data source. Data on long-term public and data are from the BIS semiannual series on interna- publicly guaranteed, private nonguaranteed debt, tional bank lending and short-term export credits and short-term debt for 2003 are based on reports from the OECD. Country data have been revised provided by the country. Revised data on short- from 1999­2001. term and private nonguaranteed debt were pro- Rescheduling. On December 30, 2003, vided by the country. Mongolia reached an agreement with Russia, after Rescheduling. Projected debt service is based several years of negotiation, to settle its 11.4 billion on contractual obligations on debt outstanding Transferable Rubles (TR) valued at US$11.4 bil- at the end of 2003. It includes the effects of all lion. The agreement consists of 97.8 percent agreements concluded to date, including the ef- up-front debt forgiveness, with a US$250 million fect of the zero-coupon bonds and the swap oper- residual cash settlement--much of which was bor- ations. In 1992, $327 million was rescheduled as rowed either domestically or externally, and part a result of the 1989 Paris Club agreement. In of it was financed from the country's international 1993 a number of public borrowers, including reserves. 594 C O U N T R Y N O T E S Morocco Nicaragua Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed and on private nonguaran- publicly guaranteed debt for 2003 are actual, teed debt for 2003 are based on reports provided based on reports provided by the country. Short- by the country. Short-term debt data are from the term debt data are from the BIS semiannual series BIS semiannual series on international bank lend- on international bank lending and short-term ex- ing and short-term export credits from the port credits from the OECD. OECD. 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 2003. It includes the effect of agree- the end of 2003. It includes the effects of all Paris ments reached with Mexico ($950 million) and Club agreements signed until December 2003. República Bolivariana de Venezuela ($159 million) in 1991, with Brazil in 1992 ($66 million), and Mozambique with Argentina ($76 million) and Cuba ($7 million) Data source. Data on long-term public and in 1993 and agreements with the Russian Federa- publicly guaranteed debt for 2003 are preliminary, tion ($442 million), Czech Republic ($141 million), based on reports provided by the country. Private Honduras ($117 million), Mexico ($91 million), nonguaranteed debt data are World Bank staff and El Salvador ($23 million) in 1996. It includes estimates and include private debt from Cahora the 2002 Paris Club agreement under "Cologne Bassa. Short-term debt data are from the BIS semi- Terms". annual series on international bank lending and Debt reduction. In 1995 debt reduction was short-term export 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 2003. It reflects the effects of all Paris Data source. Data on long-term public and Club agreements signed up to December 2003 and publicly guaranteed debt for 2003 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 2003. It includes the effects of all Paris Club agreements signed until December 2003. Myanmar Data source. Data relate to the year ending in Nigeria March. Data on long-term public and publicly Data source. Data on long-term public and guaranteed debt for end-March 2003 are estimates private-nonguaranteed debt for 2003 are based on based on the original terms of the loans. Short- reports provided by the country. Historical data term debt data are from the BIS semiannual series from 1992 to 2002 are estimates based on aggregate on international bank lending and short-term ex- data from the authorities, World Bank staff, and port credits from the OECD. other sources. Short-term debt data are from the BIS semiannual series on international bank lending Nepal and short-term export credits from the OECD. Data source. Data on long-term public and Rescheduling. Projected debt service is based publicly guaranteed debt for 2003 are based on on contractual obligations on debt outstanding at reports provided by the country. Short-term debt the end of 2003. It includes the effects of all Paris data are from the BIS semiannual series on inter- Club agreements signed until December 2003. It national bank lending and short-term export cred- includes the effects of the 2002 buyback operation its from the OECD. of the Brady Bonds. 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 5 Debt reduction. Debt reduction in 1988 was reports provided by the country. Private nonguar- $40 million and in 1989, $247 million, all of it due anteed debt data have been reported by the to debt-equity swaps. In 1990 debt reduction was country. Short-term debt data are from the BIS $286 million, $48 million of which was due to semiannual series on international bank lending debt forgiveness and $238 million to debt-equity and short-term export credits from the OECD. It swaps. In 1991 debt reduction was $243 million, includes the effects of the 2002 buyback operation of which $134 million represented a buyback, on the Brady Bonds. $95 million was debt-equity swaps, and $14 mil- lion was debt forgiveness. In 1992 there was a Peru $1.3 billion buyback. Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on Oman reports provided by the country. Private nonguar- Data source. Data on long-term public, pri- anteed and short-term debt are World Bank staff vate nonguaranteed and publicly guaranteed debt estimates. These include the effect of the 2002 for 2003 are based on reports provided by the buyback operation on the Brady Bonds. country. Short-term debt data are from the BIS semiannual series on international bank lending Philippines and short-term export credits from the OECD. Data source. Data on long-term public and publicly guaranteed, private nonguaranteed, and Pakistan short-term debt for 2003 are based on reports pro- Data source. Data on long-term public and vided by the country. Total external debt is based publicly guaranteed and private nonguaranteed on loan-level data provided by the Central Bank of debt for 2003 are based on reports provided by the Philippines and includes unregistered debt, the country. Short-term debt data are from the BIS intercompany debt and capital leases. Historical semiannual series on international bank lending data were revised in order to maintain consistency and short-term export credits from the OECD and with the conceptual framework for the measure- exclude foreign currency deposits in local banks ment of external debt set out in the international made by nonresidents. guidelines. Data for 2001­2003 were adjusted to Rescheduling. It includes the effects of all Paris net out the domestic portion of the debt. Club agreements signed until December 2003. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding as Panama of December 2003. It includes the effects of all Data source. Data on long-term public and Paris Club agreements signed until December publicly guaranteed debt for 2003 are based on re- 2003. The Paris Club agreement signed in July ports provided by the country. Data on long-term 1994 was not implemented because the Philippines private nonguaranteed debt and on short-term decided to meet Paris Club debt service due. debt are World Bank staff estimates. Data for Debt reduction. Cash buyback of $1.3 billion 1996­2002 include buybacks. at the price of 52 cents per dollar (equivalent to $656 million) was implemented in May 1992, as Papua New Guinea was the DDSR $4.4 billion multi option package Data source. Data on long-term public and of July 1992. In October 1999 the Philippines publicly guaranteed debt for 2003 are based on re- completed a $1,006 million, 25-year (plus 7-year ports provided by the country. Private nonguaran- put option) global bond offering. The offering in- teed debt data are World Bank staff estimates. volved a $292 million cash sale and a $714 million Short-term debt data are from the BIS semiannual exchange for $858 million in Brady bonds. series on international bank lending and short- term export credits from the OECD. Poland Data source. Data on long-term public and Paraguay publicly guaranteed and private nonguaranteed Data source. Data on long-term public and debt for 2003 are based on reports by the country publicly guaranteed debt for 2003 are based on and include both convertible and nonconvertible 596 C O U N T R Y N O T E S debt. Short-term debt data based on World Bank reports provided by the country. Short-term debt Staff estimates. 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 2003. It includes the effects of all Paris Club agreements signed until December 2003. It São Tomé and Principe also includes the effect of the DDSR operation Data source. Data on long-term public and with commercial banks that was concluded in Oc- publicly guaranteed debt for 2003 are based on tober 1994. The 1994 DDSR agreement restruc- reports provided by the country and World Bank tured $14.3 billion of debt. staff estimates. Short-term debt data are from the BIS semiannual series on international bank lend- Romania ing and short-term export credits from the OECD. Data source. Data on long-term public and Rescheduling. Projected debt service is based publicly guaranteed, private nonguaranteed, and on contractual obligations on debt outstanding at short-term debt for 2003 are based on reports pro- the end of 2003. It includes the effects of all Paris vided by the country. Club agreements signed until December 2003. Russian Federation Senegal Data source. Data on long-term public and Data source. Data on long-term public, pub- publicly guaranteed and short-term debt for 2003 licly guaranteed, and private nonguaranteed debt are estimates, based on aggregate data provided by for 2003 are based on reports provided by the the country. Private nonguaranteed debt data are country and World Bank staff estimates. Short- World Bank staff estimates. Data prior to 1992 are term debt data are from the BIS semiannual series for the former Soviet Union. Beginning in 1993, on international bank lending and Short-term ex- the database has been revised to include obliga- port credits from the OECD. tions to members of the former Council for Mutual Rescheduling. Projected debt service is based Economic Assistance and other countries in the on contractual obligations on debt outstanding at form of trade-related credits amounting to $15.4 the end of 2003. It includes the effects of all Paris billion as of end-1996. Club agreements signed until December 2003. Rescheduling. Projected debt service is based on contractual obligations on debt outstanding at Serbia and Montenegro the end of 2003. It includes the effects of all Paris Data source. Data on long-term public and Club agreements signed until December 2003, publicly guaranteed and short-term debt for 2003 as well as the February 2000 rescheduling with are based on the aggregate data reported by the London Club creditors. country. Private nonguaranteed debt data are World Bank staff estimates. Data includes old debt Rwanda incurred by Kosovo and Montenegro prior to 2000. Data source. Data on long-term public and Debt reduction. The debt reduction of publicly guaranteed debt for 2003 are World Bank 1988­91 consisted of buybacks of $128 million in staff estimates. Short-term debt data are from the 1988, $610 million in 1989, $1.5 billion in 1990, BIS semiannual series on international bank lend- and $554 million in 1991. ing and short-term export credits from the OECD. Other. In 1992 the former Yugoslavia split Rescheduling. Projected debt service is based into several republics; information on debt out- on contractual obligations on debt outstanding at standing by the various republics are shown in the the end of 2003. It includes the effect of reschedul- country pages for Croatia and FYR Macedonia. ing loans from Kuwait in 1996, as well as the effect Debt includes the old debt of Kosovo incurred of the Paris Club agreement signed in July 1998. prior to 1999. Samoa Seychelles Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on publicly guaranteed debt for 2003 are based on 597 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 5 reports provided by the country. Short-term debt are based on aggregate information provided by data are from the BIS semiannual series on inter- the authorities and World Bank staff estimates. national bank lending and short-term export cred- its from the OECD. Sri Lanka Data source. Data on long-term public and Sierra Leone publicly guaranteed debt for 2003 are based on re- Data source. Data on long-term public and ports provided by the country. Long-term private publicly guaranteed debt for 2003 are based on re- nonguaranteed debt data are based on reports pro- ports provided by the country. Long-term private vided by the country. Short-term debt data are nonguaranteed debt data are World Bank staff from the BIS semiannual series on international estimates. Short-term debt data are from the BIS bank lending and short-term export credits from semiannual series on international bank lending the OECD. and short-term export credits from the OECD. Major revisions to the database are based on in- St. Kitts and Nevis formation provided by the country. Data source. Data on long-term public and Rescheduling. Projected debt service is based on publicly guaranteed debt for 2003 are based on contractual obligations on debt outstanding at the reports provided by the country. Short-term debt end of 2003. It includes the effects of all Paris Club data are from the BIS semiannual series on inter- agreements signed until December 2003. It also national bank lending and short-term export cred- includes the effect of a DDSR operation with com- its from the OECD. mercial banks that was concluded in August 1995. St. Lucia Slovak Republic Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on publicly guaranteed and private nonguaranteed reports provided by the country. Short-term debt debt for 2003 are based on reports provided by the data are from the BIS semiannual series on inter- country. Short-term debt data are from the Annual national bank lending and short-term export cred- Reports of the National Bank of Slovakia (NBS). its from the OECD. Other. The Slovak Republic became a member of the World Bank in 1993. Data for 1985­92 are St. Vincent and the Grenadines based on preliminary information on the succession Data source. Data on long-term and publicly of the former Czechoslovakia (effective January 1, guaranteed debt for 2003 are based on reports pro- 1993). vided by the country. Starting from 1993, Short- term debt data are World Bank staff estimates. Solomon Islands Data source. Data on long-term public and Sudan publicly guaranteed debt for 2003 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 2003 are estimates based on the original national bank lending and short-term export cred- terms of the loans. Short-term debt data are from its from the OECD. the BIS semiannual series on international bank lending and short-term export credits from the Somalia OECD. Data source. Data on long-term public and publicly guaranteed debt for 2003 are estimates Swaziland 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 2003 are based on reports provided by the country. Short-term debt South Africa 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 and short-term debt for 2003 its from the OECD. 598 C O U N T R Y N O T E S Syrian Arab Republic Rescheduling. Projected debt service is based Data source. Data on long-term public and on contractual obligations on debt outstanding at publicly guaranteed debt for 2003 are estimates the end of 2003. It includes the effects of all Paris based on the original terms of the loans and in- Club agreements signed until December 2003 and clude only civilian debt. Data on noncivilian debt, commercial bank arrangements until end-1996. which is substantial and owed mainly to Eastern European countries, are estimates using creditor Tonga source information. Data on civilian debt do not Data source. Data on long-term public and reflect bilateral debt arrangements that have been publicly guaranteed debt for 2003 are based on agreed in recent years. Short-term debt data are reports provided by the country. Short-term debt World Bank staff estimates. data are from the BIS semiannual series on inter- national bank lending and short-term export cred- Tajikistan its from the OECD. Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on Trinidad and Tobago partial reports provided by the country and World Data source. Data on long-term public and Bank Staff estimates. Private nonguaranteed debt publicly guaranteed debt for 2003 are based on data are World Bank estimates. reports provided by the country. Short-term debt Rescheduling. In 1993, $18 million of techni- data are World Bank staff estimates. cal credits were rescheduled with Kazakhstan. In 1996, $505.8 million were rescheduled with bilat- Tunisia eral creditors. Data source. Data on long-term public and publicly guaranteed debt for 2003 are based on re- Tanzania ports provided by the country. Private nonguaran- Data source. Data on long-term public and teed debt data are World Bank staff estimates publicly guaranteed debt for 2003 are World Bank based on information from the government. Short- staff estimates. Long-term private nonguaranteed term debt data are from the BIS semiannual series debt data are World Bank staff estimates. Short- on international bank lending and short-term ex- term debt data are from the BIS semiannual series port credits from the OECD. on international bank lending and short-term ex- port credits from the OECD. Turkey Rescheduling. Projected debt service is based Data source. Data on long-term public and on contractual obligations on debt outstanding publicly guaranteed, private nonguaranteed, and at the end of 2003. It includes the effects of all short-term debt for 2003 are based on reports pro- Paris Club agreements signed until December vided by the country. 2003. Nonresident deposits. Long-term debt data in- clude nonresident deposits made under the Dresd- Thailand ner Bank scheme, amounting to $14.2 billion at Data source. Data on long-term public and end-2003. publicly guaranteed and private nonguaranteed debt for 2003 are based on preliminary reports Turkmenistan provided by the country. Short-term debt data are Data source. Data on long-term public and based on official government data. publicly guaranteed debt for 1999 to 2003 are not available due to reporting problems. Short-term Togo debt data are from the BIS semiannual series on Data source. Data on long-term public and international bank lending and short-term export publicly guaranteed debt for 2003 are estimates credits from the OECD. based on the original terms of the loans. Short- term debt data are from the BIS semiannual series Uganda on international bank lending and short-term ex- Data source. Data on long-term public and port credits from the OECD. publicly guaranteed debt for 2003 are based on 599 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 5 reports provided by the country. Short-term debt semiannual series on international bank lending data are from the BIS semiannual series on inter- and short-term export credits from the OECD. national bank lending and short-term export cred- Rescheduling. In 1993 a total of $321 million its from the OECD. of trade credits were rescheduled with Kazakhstan Rescheduling. Projected debt service is based ($46.4 million) and the Russian Federation on contractual obligations on debt outstanding at ($275.0 million). the end of 2003. It includes the effects of all Paris Club agreements signed until December 2003. Vanuatu Debt reduction. As a result of the September Data source. Data on long-term public and 2000 Paris Club agreement on Lyon terms, the publicly guaranteed and short-term debt for 2003 stock of debt was reduced by $165 million at the are World Bank staff estimates. end of 2000. Venezuela, República Bolivariana de Ukraine Data source. Data on long-term public and Data source. Data on long-term public and publicly guaranteed and private nonguaranteed publicly guaranteed and private nonguaranteed debt for 2003 are based on reports provided by debt for 2003 are based on reports provided by the country. Short-term debt data are World Bank the country. Short-term debt data are from the BIS staff estimates. semiannual series on international bank lending and short-term export credits from the OECD. Vietnam Rescheduling. In 1993 a total of $2,528 mil- Data source. Data on long-term public and lion of technical credits were rescheduled with publicly guaranteed debt for 2003 are based on Moldova and the Russian Federation. In 1999 partial reports provided by the authorities and some $3.2 billion were rescheduled with the World Bank staff estimates. Short-term debt data Russian Federation. In 2000 about $2.7 billion in are from the BIS semiannual series on interna- bonds were rescheduled. It includes the effects of tional bank lending and short-term export credits all Paris Club agreements signed until December from the OECD. 2003. Rescheduling. Projected debt service is based on contractual obligations and existing terms on Uruguay debt outstanding at the end of 2003. It includes Data source. Data on long-term public and the effects of all Paris Club agreements signed until publicly guaranteed debt for 2003 are based on re- December 2003, other bilateral arrangements ports provided by the country. Private nonguaran- outside of the Paris Club, and the 1997 DDSR teed debt data are World Bank staff estimates. agreement. The effect of the memorandum of un- Short-term debt data are from the BIS semiannual derstanding of September 1997 on the debt out- series on international bank lending and short- standing and disbursed owed to Russia is reflected term export credits from the OECD. in the table. The data are provisional and are Debt exchange. The voluntary debt exchange based on World Bank staff estimates. in May 2003 by the government covered foreign currency bonds due between 2004 and 2027 for Yemen, Republic of new bonds with an average five-year extension Data source. Data on long-term public and and lower interest rates. The rate of acceptance publicly guaranteed debt for 2003 are based on re- was high about 90% and 98% among foreign and ports provided by the country. Short-term debt data domestic holders, respectively. The total debt eligi- are from the BIS semiannual series on international ble was about $5.3 billion. bank lending and short-term export credits from the OECD. Uzbekistan Rescheduling. Projected debt service is based Data source. Data on long-term public and on contractual obligations and existing terms on publicly guaranteed and private nonguaranteed debt outstanding at the end of 2003. It includes debt for 2003 are based on reports provided by the effects of all Paris Club agreements signed until the country. Short-term debt data are from the BIS December 2003. 600 C O U N T R Y N O T E S Zambia the end of 2003. It includes the effects of all Paris Data source. Data on long-term public and Club agreements signed until December 2003. publicly guaranteed debt for 2003 are based on the reports provided by the country. Private Zimbabwe nonguaranteed debt data are World Bank staff Data source. Data on long-term public, pub- estimates. Short-term debt data are from the BIS licly guaranteed, and private nonguaranteed debt semiannual series on international bank lending for 2003 are based on reports provided by the and sort-term export credits from the OECD. country. Short-term debt data are from the BIS Rescheduling. Projected debt service is based semiannual series on international bank lending on contractual obligations on debt outstanding at and short-term export credits from the OECD. 601 Global Development Finance 2005 embraces three key chal- orderly fashion, the developing world will have to adjust lenges: as interest rates return to their historical norms and growth slows in the industrial economies. If efforts · Managing the vulnerability inherent in global eco- toward orderly adjustment prove to be "too little, too nomic and financial imbalances late" in the eyes of the capital markets, a sudden shortage · Confronting the risks posed by the growing market of finance, accompanied by spikes in interest rates, could sensitivity of developing-country debt severely shock indebted economies.The safest course for · Mobilizing and diversifying sources of finance for developing countries is to persevere with policies and low-income countries reforms that promote economic growth under sustainable In 2004 capital flows to the developing world reached levels of debt--domestic and external. levels higher than at any time since the crises of the The World Bank's annual review of recent trends in and 1990s. Low international interest rates allowed developing prospects for financial flows to developing countries, countries to restructure their debt on favorable terms. Global Development Finance 2005, I:Analysis and Statistical They also provoked a search for higher yields among Appendix is an indispensable resource for governments, international investors, whose appetite for risk was sharp- economists, investors, financial consultants, academics, ened by the growing ability of capital markets to gauge bankers, and the entire development community. risk in individual countries. Stronger creditworthiness ratings in many developing countries--reflecting Global Development Finance 2005, II: Summary and Country improved macroeconomic, fiscal, and regulatory Tables includes a comprehensive set of tables policies--contributed to investor confidence. with statistical data for 136 countries that report debt under the World Bank Debtor Reporting System, as For the poorest countries, which lack ready access to well as summary data for regions and income groups. market-based finance, official development assistance It contains data on total external debt stocks and flows, remains the most important source of external finance. aggregates, and key debt ratios, and provides a detailed, But other capital flows and nontraditional sources of country-by-country picture of debt. Global Development foreign exchange--workers' remittances, grants from Finance 2005 debt data are also available on CD-ROM, nongovernmental organizations, and aid from middle- with 217 historical time series indicators from 1970 to income countries--have risen in importance. 2003, and country group estimates for 2004. The favorable overall picture masks considerable country Prospects for the Global Economy is a new online com- variation. Both foreign direct investment and debt reduc- panion to Global Development Finance. It provides infor- tion are highly concentrated in a few countries. In much mation on the global economic outlook, detailed regional of the developing world, the external debt of the public forecasts, and additional features such as interactive sector has continued to rise--often compounded by graphs, analytical tools, and access to underlying growing levels of domestically sourced debt. data.This online publication is available in English, The overall picture also conceals vulnerabilities. Even if French, and Spanish at http://www.worldbank.org/ the present imbalances in global payments unwind in an globaloutlook. For more information on the analysis, please see www. THE WORLD BANK worldbank.org/prospects; further detail about the Summary 1818 H Street, NW and Country Tables can be found at www.worldbank.org/data. Washington, DC 20433 USA For general and ordering information, please visit the Telephone: 202 473-1000 World Bank's publications Web site at www.worldbank.org/ Facsimile: 202 477-6391 Internet: www.worldbank.org publications, or call 703-661-1580; within the United States, E-mail: feedback@worldbank.org please call 1-800-645-7274. ISBN 0-8213-5985-1