R E S T R I C T E D Report No. EC-85 This report was prepared for use within the Bank. In making it available to others, the Bank assumes no responsibility to them for the accuracy or completeness of the information contained herein. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT EXTERNAL PUBLIC DEBT ESTIMATED SERVICE AND PRINCIPAL AMOUNTS GUATEMALA ICELAND ITALY JAPAN NIGERIA NORWAY PANAMA PHILIPPINES SUDAN March 25, 1960 Economic Staff EXTERNAL PUBLIC DEBT - ESTIMATED SERVICE AN~D PRINCIPAL ANOUNTS 1. For the purpose of these statistics, external public debt includes all debt which is payable to creditors outside the debtor country in foreign currency, goods, or services, with an original maturity of one year or more, which is an obligation of the national government, a political subdivision or an agency of either or an autonomous public body. It also includes extemnal private debt guaranteed by the national government, a political subdivision or an agency of either, or an autonomous public body, and incurred by debtors located within the debtor country. 2. For the purpose of the attached tables external public debt does not include: (a) transactions with the International Monetary Fund, (b) private debts unless they are guaranteed, (c) debts which are in default or dispute, (d) other external obligations, such as reparations, so long as the amounts and terms have not been agreed, and (e) debts i":payable at the option of the borrower in local currency. 3. In Table 1 principal amounts include undisbursed portions of loans except for loans from the Sino-Soviet Bloc. Loans from the Sino-Soviet Bloc are included only to the extent that, according to the Bank's information, they are drawn down. Table 1 also shows for some countries major reported additions since June 30, 1959. The figures on indebtedness as of June 30 and the figures on major reported additions should not be added together as the additions are not necessarily complete and no allowance has been made for any amortization since June 30. 4. Service payments shown in Table 2 are the estimated amortization and interest payments due in foreign currencies, goods, or services on the debts summarized in Table 1. In a few cases -where it is not possible to separate interest from principal, the interest is included in the amortization column. 5. The Bank obtains the information used in the prepara- tion of the tables mainly from reports contributed by the debtor countries; supplementary information is obtained from published reports of creditor countries and other publications. Some figures are estimates of the Bank staff. GUATEMALA, Table 1: IBRD ESTIl4ATES OF EXTERNAL PUBLIC DEBT DUE IN FOREIGfl CURRENCIES AS OF JUNE 30, 1959 AND OF ADDITIONAL DEBT CONTRACTED THEREAFTER TO DECE1I;BER 31, 1959 (In thousands of U.S. doflar equivalents) Major additions Type of debt Debt as of June 30, 1959 July 1 - December 31, 1959 Privately-placed bonds 4,OOO - IBRD loan 18,200 Loans from U.S. Goverrment Export-Import Bank 5,000 Other 5' Sub-total -10 000 22,200 10,0 Table 2: IBRD ESTIMATES OF SERVICE PAYNENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGNJ CURRENCIES AS OF JUNE 30, 1959 I,1TH k1AJOR ADDITIONS TO DECEMBER 31, 1959 (In thousands of U.S. dollar equivalents) Year Service payments ------Amortization -Interest - Total 1960 1,240 1,221 2,461 1961 ,852 1,443 3,295 1962 5,911 1,272 7,183 1963 1,973 1,099 3,072 1964 2,039 1,002 3,L041 1965 2,109 902 3,011 1966 2,180 794 2,974 1967 2,255 688 2,943 1968 2,334 573 2,907 1969 3,912 439 4,35'. ICELAN Table 1: IBRD EST[A4TES OF EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES,* AND GOODS AS OF JUNE 30, 1959 ANqD OF ADDITIONAL DEBT CONTRACTED THEREAFER TO JANUARY 31 1960 (In thousands of U.S. dollar equivalents) Major additions Type of debt Debt as of June 30, 1959 July 1 - January 31,g160 Publicly-issued bonds 2,471- Suppliers' and bank credits 6,513 IBRD loa ns 5,o78 - - Loans from U.S. Government Export-Import Bank 217 Other 9,761 Sub-total 9,978 6,000 loans from other governments 13,993 - 383,033 6,000 Table 2: IBRD ESTIMATES OF SERVICE PAYMENTS C0I EXTERNAL PUBLIC DEBT DUTE IN FOREIGN CURRENCIES, AND GOODS AS OF JUNE 30,, 1959 WITH MAJOR ADDITIONS TO JANUARY 31, 1960 (In thousands of U,S. dollar equivalents) Year Service payments Amortization Interest Total 1960 4L,307 1i, 4 5,7148 1961 4,322 1,362 5,684 1962 3,713 1,183 4,896 1963 3,116 1,0042 14,158 1964 30OO5 921 3,926 1965 2,897 820 3,717 1966 1,951 720 2,670 1967 1,921 646 2,568 1968 1,982 577 2,559 1969 2,006 505 2,511 ITALY Table 1: IBRD ESTIM1ATES OF EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF JUE 30, 1959 AND OF ADLI:TIONAL DEBT CONTRACTED THEEAFIER TO DECE24BER 31, 1959 (In thousands of U.S. dollar equi7alents) iajor additions Type of debt Debt as of June 30, 1959 July 1 - December 31, 1959. Publicly-issued bonds 165,458 Bank credits 31,961 IBPD loans and participations 254,781 4,0OOO BIS loan 31,601 - European Investment Bank loan 209000 - Loans from U.S. Government Export-Import Bank 68,809 34,000 Other 172-615 Sub-total 241,424 34,000 Loans from other governments 57.939 703j,164 770 000 Table 2: IBRD ESTIMATES OF SERVICE PAYMTS ON EXTERNDAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF JUNE 30, 1959 WITH MAJOR ADDITIONS TO DECEIBER 31,, 1959 (In thousands of U.S. dollar equivalents) Year Service payments Amortization Interest Total 19o 509 9131,921 82,832 1961 44,846 30,956 '75,802 1962 45,506 30,260 75,766 1963 50,oo4 29,081 79,085 1964 51,755 27,142 78,897 1965 47,029 24,67 71,896 1966 41,609 22,745 64,354 1967 41,466 20,886 62,352 1968 39,965 19,316 59,281 1969 40,401 17,553 57,954 JAPAN Table 1: IBRD ESTIMATES OF EXTERNAL PUBLIC DEE. DUE IN FOREIGN CURRENCIES, GOODS AND SERVICES AS OF JUNE 30, 1959 AND OF ADDITIGNAL DEBT CONTRACTED THEREAFTER TO DECE]4BER 31, 1959 (In thousands of U.S. dollar equivalents) Major additions Type of debt Debt as of June 30, 1959 July 1 - December 31, 1959 Publicly-issued bonds 290,691 - Suppliers' and bank credits 37,726 5,728 IBRD loans and participations 248,a514 4419000 Loans from U.S. Government Export-Inport Bank 146,936 /a 47,186 /a Reparations 811,540 39,000 1,535,-407 135,914 L Includes cotton credits of 6964,861 thousand outstanding June 30, 1959 and $30,000 thousand contracted after June 30, 1959. Table 2: IBRD ESTIMATES OF SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES, GOODS OR SERVICES AS OF JUNE 30, 1959 WITH MAJOR ADDITIONS TO DECEM1BER 31, 1959 (In thousands of U.S. dollar equivalents) Year Service payments Amortization Interest Total 1960 172,766 33,576 206,342 1961 148,628 35,209 183,837 1962 186,193 31,298 217,491 1963 129,731 27,423 157,154 1964 1Lk6,209 24,126 170,335 1965 101,220 20,329 121,549 1966 80,683 18,360 99,0o43 1967 84,35o 16,463 100,813 1968 90,563 14,374 104,937 1969 61 ,o718 12,373 74,091 NIGERIA Table 1: IBRD ESTIMATES OF EXTERNAL PUELIC DEBT DLE IN FOREIGN CURRENCI1S AS OF JUNE 30, 1959 /a (In thousands of U.S. dollar equivalents) Type of debt Debt as of June 30, 1959 Pablicly-issued bonds 33,823 /b IBTD loans and participations 28,000 Loans from governments other than U.S. 3 524 /a Part of the debt of Nigeria is guaranteed by tile United KingdLom. Amount outstanding is net of sinking funds. Table 2: IBRD ESTIMATES OF SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF JUNE 30, 1959 (In thousands of U.S. dollar equivalents) Service payment,s Amortization Interest Total 1960 477 3,028 3,505 1961 534 3,220 3,754 1962 1,100 3,300 4,9400 1963 5,047 3,254 8,301 1964 1,611 2,550 4,161 1965 1,681 2,480 4,161. 1966 16,975 2,406 19,381 1967 1,643 1,662 3,305 1968 1,725 1,580 3,305 1969 1,812 1,493 3,305 NORWAY Table 1: IHRD ESTIMA¶TES OF ElXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRNCIES AS OF JUNE 30, 1959 .AND OF ADDITIONAL DEBT CONTRACTED THEREAFqfR TO DECEM 31, 1959 (In thousands of U.S. dollar equivalents) Major additions Type of debt Debt as of June 30, 1959 July 1 - December 31, 1959 Publicly-issued bonds 150,715 22,224 Privately-placed debt 32,900 - TBRD loans and participation 72,450 20,000 European Fund 1V0O,O - IoAans frmn U.S. Government Export-Inport Bank 20,833 Other 39,312 - Sub-total 60,145 Loan,s from other governments 110,805 - 437,01 42,224 Table 2: IBRD ESTIMATES OF SERVICE PAYMENTS ON EXTERNAL PUBLIC 'DEBT DUE IN FOREIGN CIURRENCIES AS OF JUNE 30, 1959 WJITH MlAJOR ADDITIONS TO DECEMBER 31, 1959 (In thousands of U.S. dollar equivalents) Year Service payments Amortizatoin Interest Total 1960 4:-702 16,366 60,068 1961 46,'t 7 15,211 61,988 1962 4,-,3,476 13,949 57,425 1963 40,P596 12,672 53,268 1964 38,507 11,375 49,882 1965 26,052 10,9008 36,o60 1966 23,801 9,032 L.,833 1967 19,422 8,159 27,581 1968 19s,701 7,381 27,082 1969 18,964 69596 25 ,560 PANAMA Table 1: IBRD ESTfliATES OF EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF JUNE 30, 1959 AND OF ADDITIONAL DEBT CONTRACTED THEREA11'ER TO DECEM!EBER '. 1959 (In thousands of U.S. dollar equivalents) Najor additions Type of debt Debt as Nf June 30, 1959 July 1 - December 31, 1959 Publicly-issued bonds 16,606 - Privately-pla ced bonds 9,216 Loans from U.S. Government Export-Import Bank 13,4o 4)5 250 Other 2, OC - Sub-total 15,405 250 41,227- 250 Table 2: IBRD ESTIM4ATES CF SERVICE PAIENTS ON EXTERNAL PUBLIC DEBT DUE IN FOREIGN CURRENCIES AS OF JUNE 30, 1959 WITH MIAJOR ADDITIONS TO DECEMBER 31, 1959 (In thousands of U.S. dollar equivalents) Year Service payr3ents Amortization Interest Total 1960 578 1,77,3 2,351 1961 598 1,809 2,407 1962 1,052 1,784 2,836 1963 1,412 1,721 3,133 1964 1,430 1,653 3,083 1965 1,399 1,586 2,985 1966 1,421 1,520 2,941 1967 1,443 1,454 2,897 1968 1,464 1,385 29849 1969 1,490 1,316 2,806 PHILIPPINES Table 1: IBRD ESTIMLATES OF EXTEZIAL PI, BLIC DEBT DUE IN FOREIDN CURRENCIES AS OF' DECEMBER 31, 1959 (In thousanrds of U.S. dollar equivalents) Tpofdebt Debt as of Type or tDecember 31, 1959 Suppliers' and bank credits 43,633 IBRD loans and participations 18,500 Loans frcm U.S. Govermnent Export-Import Bank 33,879 Other 32,744 Sub-total 66,623 126,M5 Table 2: IBRD ESTIMATES OF SERVICE PAYMENTS ON EXTERNAL PUBLIC DEBT LUE IN FOREIGN CURRENCIES AS OF DECENBER 31, 1959 (In thousands of U.S. dollar equivalents) Year Service payments /A Amortization Interest Total 1960 U1,973 2,594 14,567 1961 15,146 4,340 19,486 1962 12,031 3,824 15,855 1963 9,809 3,262 13,071 1964 9,297 2,771 12,068 1965 8,931 2,305 11,236 1966 6,839 1,980 8,819 1967 6,880 1,542 8,422 1968 3,862 1,224 5,O86 1969 1,708 1,077 2,785 L Excludes service payments on $23,498,thousand of debt outstanding as of December 31, 1959, the terms of which are being negotiated. SUDAN Table 1: IBRD ESTIMATES OF EXTENAiL PUBLIC DEBT DUXE IN FQR IGN CURREITCIES AS OF DECEMER 31 1959 Za, (In thousands of U.S. dollar equivalents) Type of debt Debt as of TDecember 31, 1959 Publicly-issued bonds 9s087 Suppliers' and bank credits 17,856 IBRD loans and participations 39,000 Loans from governments other than U.S. lt000 > Part of the debt of Sudan is guaranteed by the United Kingdom. Table 2: IBRD ESTIMATES OF SE.VICE PAYIMNTS ON EXTEPNAL PUBLIC DEBT IN FOREIGN CURRENCIES ON DEBT AS OF tECEMI"BER 31 1959 (In thousands of U.,S. dollar equivalents) Year Service payments Amortization Interest Total 1960 2,842 3,511 6,353 1961 8,037 3,994 12,031 1962 8,828 3,557 12,385 1963 8,9994 3,090 12,O84 1964 4,436 2,675 7,111 1965 4,550 2,438 69988 1966 4,672 2,194 6,866 1967 4,797 1,945 6,742 1968 2,698 13,689 4,387 1969 2,840 1,548 4,388 .. . -