Statistical Bulletin
|
|
- Harold Small
- 8 years ago
- Views:
Transcription
1 Public Sector Debt Statistical Bulletin BULLETIN No. 9 (2007/ /12) Debt Management Directorate Ministry of Finance & Economic Development Federal Democratic Republic of Ethiopia Addis Ababa October 2012 Public Sector Debt Statistical Bulletin No / /12 (MoFED)
2 Debt Management Directorate Ministry of Finance & Economic Development Federal Democratic Republic of Ethiopia P.O.Box 1905 Tel , Fax No , Addis Ababa Ethiopia Public Sector Debt Statistical Bulletin No / /12 (MoFED) ii
3 Table of Contents Preface... i Acronyms and Abbreviations... ii Page PART I GENERAL INFORMATION & ACCOUNTING PRINCIPLES Coverage... 1 Methodology... 1 Classifications... 2 Sources... 2 Revision Policy... 2 Fiscal Year... 2 Frequency & Time Lag... 2 PART II - STATISTICAL TABLES Table 1.-- EXCHANGE RATES... 1 Table 2-- Table 3-- Table 4-- Table 5-- Table 6-- Table 7-- PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING, DISBURSEMENTS, DEBT SERVICE PAYMENTS & DEBT RELIEF... 2 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY LENDER CATEGORY CREDITOR TYPE AND CREDITOR... 3 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY CURRENCY COMPOSITION... 4 CHANGE IN PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY LENDER CATEGORY, CREDITOR TYPE AND CREDITOR COUNTRY/CREDITOR... 5 CHANGE IN PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY CURRENCY COMPOSITION... 6 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY LENDER CATEGORY, CREDITOR TYPE & CONCESSIONALITY... 7 Table 8-- PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY LOAN PURPOSE... 8 Table 9-- Table 10-- PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING & ARREARS BY LENDER CATEGORY, CREDITOR TYPE & CONCESSIONALITY... 9 PUBLIC SECTOR EXTERNAL DEBT NEW COMMITTMENTS-AMOUNTS, LOAN TERMS & GRANT ELEMENT Table 11-- NEW EXTERNAL LOAN COMMITMENTS BY CREDITOR TYPE AND CREDITOR Public Sector Debt Statistical Bulletin No / /12 (MoFED) i
4 Table 12-- PUBLIC SECTOR EXTERNAL DEBT DISBURSEMENT BY LENDER CATEGORY, CREDITOR TYPE AND CREDITOR COUNTRY/CREDITOR Table 13-- PUBLIC SECTOR EXTERNAL DEBT DISBURSEMENT BY ECONOMIC SECTOR Table 14-- Table 15-- Table 16-- Table 17-- Table 18-- Table 19-- Table 20-- Table 21-- PUBLIC SECTOR EXTERNAL DEBT QUARTERLY DISBUSEMENT BY CREDITOR TYPE AND CREDITOR UNDISBURSED PUBLIC SECTOR EXTERNAL DEBT BY CREDITOR TYPE AND CREDITOR DEBT SERVICE PAYMENTS ON PUBLIC SECTOR EXTERNAL DEBT BY LENDER CATEGORY AND CREDITOR TYPE QUARTERLY DEBT SERVICE PAYMENTS ON PUBLIC SECTOR EXTERNAL DEBT BY LENDER CATEGORY, CREDITOR TYPE AND CREDITOR PUBLIC SECTOR EXTERNAL DEBT, EXTERNAL DEBT RELIEF BY CREDITOR TYPE AND CREDITOR PUBLIC SECTOR EXTERNAL DEBT NET FLOWS & NET TRANSFERS ON PUBLIC SECTOR EXTERNAL DEBT DOMESTIC DEBT OUTSTANDING BY INSTRUMENT TYPE DOMESTIC DEBT OUTSTANDING BY HOLDERS Table 22-- DOMESTIC DEBT SERVICE PAYMENT Table 23-- TOTAL PUBLIC DEBT OUTSTANDING PART III - CHARTS Chart 1 PUBLIC SECTOR EXTERNAL DEBTS OUTSTANDING Chart 2 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING MAJOR CREDITORS Chart 3 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING MAJOR CURRENCIES Chart 4 DEBT SERVICE PAYMENTS ON PUBLIC SECTOR EXTERNAL DEBT Chart 5 DISBURSEMENT FROM MAJOR CREDITORS Chart 6 EXTERNAL DEBT RELIEF Chart 7 NET FLOWS & NET TRANSFERS Chart 8 DOMESTIC DEBT OUTSTANDING BY INSTRUMENT TYPE Chart 9 DOMESTIC DEBT OUTSTANDING BY HOLDERS Chart 10 DOMESTIC DEBT SIRVICE PAYMENTS PART IV - DEFINITIONS Definitions... i -v Public Sector Debt Statistical Bulletin No / /12 (MoFED) ii
5 Preface The Ministry of Finance and Economic Development (MoFED) of the Federal Democratic Republic of Ethiopia is given the mandate, by Financial Administration Proclamation No.648/2009, to maintain comprehensive and detailed records of the public debt. Public Sector Debt Statistical Bulletin is a statistical report prepared by the Debt Management Directorate of MoFED as per this mandate. The major objective of publishing this Bulletin is to provide the public at large with the relevant information and data regarding external and domestic debt position of the country. However, it does not encompass any analysis, as the aim is to give the user the liberty of using the data when carrying out its own research. The Bulletin is structured as follows: Part I covers general information and accounting principles including the coverage, methodology, classification, source, revision policy, fiscal year and frequency and time lag of publishing the Bulletin. Part II and Part III contain statistical tables and charts, respectively. Finally, Part IV gives the standard definitions of some concepts and terminologies used in public debt management, which is believed to give the reader a better understanding and avoid misapprehension of the figures. Public Sector Debt Statistical Bulletin No / /12 (MoFED) i
6 Acronyms & Abbreviations CREDITORS AfDB AfDF BADEA EEC EIB IDA IFAD IMF NDF OFID SFD African Development Bank African Development Fund Arab Bank for Economic Development in Africa European Economic Commission European Investment Bank International Development Association International Fund for Agricultural Development International Monetary Fund Nordic Development Fund OPEC Fund for International Development Saudi Fund for Development CURRENCIES CHF CNY ETB EUR GBP INR JPY KWD SAR SDR SEK USD Swiss Franc Chinese Yuan Ethiopian Birr Euro Great Britain Pound Indian Rupee Japanese Yen Kuwait Dinar Saudi Arabia Riyal Special Drawing Rights Swedish Krone United States Dollar Public Sector Debt Statistical Bulletin No / /12 (MoFED) ii
7 OTHERS CBB CBE DBE DMD EAL EEPCO FY HIPC MDRI MoFED NBE PC PSSA Construction and Business Bank Commercial Bank of Ethiopia Development Bank of Ethiopia Debt Management Directorate Ethiopian Airlines Ethiopian Electric Power Corporation Fiscal Year Heavily Indebted Poor Countries Multilateral Debt Relief Initiative Ministry of Finance & Economic Development National Bank of Ethiopia Paris Club Public Social Security Agency Public Sector Debt Statistical Bulletin No / /12 (MoFED) iii
8 PART I GENERAL INFORMATION & ACCOUNTING PRINCIPLES Public Sector Debt Statistical Bulletin No / /12 (MoFED)
9 PART I GENERAL INFORMATION & ACCOUNTING PRINCIPLES 1. COVERAGE Public Sector Debt Statistical Bulletin provides information on the public debt including: (i) the central government external debt, (ii) the government-guaranteed external debt, (iii) the non-guaranteed external debt, and (iv) the domestic debt. The central government external debt refers to all external loans contracted between external creditors and MoFED; while the government-guaranteed external debt comprises of loans and suppliers credits contracted by public enterprises, mainly the Ethiopian Electric and Power Corporation (EEPCO), Sugar Corporation, Ethiopian Railways Corporation, Ethiopian Shipping Lines and guaranteed by MoFED as well as the state owned bank- the Commercial Bank of Ethiopia (CBE). The non-guaranteed external debt, on the other hand, includes loans contracted by public enterprises, mainly the Ethiopian Airlines (EAL) and Ethio-Telecom (former ETC), without government or government owned bank guarantee. Domestic debt covers the debt of the central government in forms of government bonds, treasury bills and direct advance from the central bank. In future editions consideration will be given to extending the coverage to on-lent loans, as well as major debt sustainability indicators of the country. 2. METHODOLOGY 2.1 Database: The Debt Management Directorate (DMD) of MoFED uses Debt Management and Financial Analysis System (DMFAS) of UNCTAD to record detail loan information and produce aggregated data and reports for the public sector debt. 2.2 Converting Debt Data to a Common Currency: To produce summary tables, the debt data has to be converted into a common currency, usually the US dollar or ETB, as follows: Stock figures: to convert stock figures into US dollars or ETB, end period exchange rate is used. Flow figures: to convert flow figures into US dollars or ETB, exchange rate as day of transaction is used. 2.3 Treatment of Arrears: As the bilateral debt reorganization negotiations with some of the non-paris Club and commercial creditors have not yet been finalized, the Public Sector Debt Statistical Bulletin No / /12 (MoFED)
10 government has been accumulating principal and interest arrears and the amount is included in the total outstanding debt. 2.4 Treatment of Debt Reorganization: Ethiopia has benefited from Paris Club debt reorganizations, HIPC Initiative, MDRI as well as bilateral debt reduction agreements with non-paris Club and commercial creditors. Specially, in relation with the implementation of the HIPC Initiative and usage of the HIPC funds, a special bank account has been opened at the National Bank of Ethiopia, where the savings from the debt service due could be deposited until it is channeled to the central treasury account. 3. CLASSIFICATIONS The classification of the debt data used in this bulletin mostly complies with the international standards indicated in the External Debt Statistics: Guide for Compilers and Users, with some customization to own use. 4. SOURCES 4.1 Debt Data: The primary source of information for the debt statistics is the external debt database administered by the Debt Management Directorate (DMD) of the Ministry of Finance and Economic Development using Debt Management and Financial Analysis System (DMFAS) of UNCTAD. 4.2 Exchange Rate: The exchange rates used for compiling debt data are obtained from the National Bank of Ethiopia (Daily Transaction Exchange Rates). 5. REVISION POLICY Debt data indicated in the very last period of the observation period usually are subject to changes and, therefore, are labeled as P to indicate that they are provisional. In particular, disbursement documents are sometimes received after two to three months lag and the database has to be updated when documents are received. This leads to changes in figures for disbursements and outstanding debts; and subsequent editions would come up with revised figures, labeled as R. 6. FISCAL YEAR Even though the Ethiopian fiscal year runs from July 8 to July 7, the fiscal year covered in the Bulletin is from July 1 to June 30. This is mainly because the reports submitted to various international organization covers this period and it is necessary that the figures tally with standard publications. 7. FREQUENCY & TIME LAG This Statistical Bulletin is published semi annually with a time lag of one quarter. Public Sector Debt Statistical Bulletin No / /12 (MoFED) 2
11 PART II STATISTICAL TABLES
12 Table 1 EXCHANGE RATES CURRENCY / 1 USD 2007/ /12 DATE 30-Jun Jun Jun Jun June-2012 CHF CNY ETB EUR GBP INR JPY KWD SAR SDR SEK Public Sector Debt Statistical Bulletin No / /12 (MoFED) 1
13 Table 2 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING, DISBURSEMENTS, DEBT SERVICE PAYMENTS & DEBT RELIEF MILLION USD / ETB / / / / / /11 R 2011/12 P USD ETB USD ETB USD ETB USD ETB USD ETB TOTAL OUTSTANDING 1 2, , , , , , , , , , Central Government 2, , , , , , , , , , Gov.Guaranteed , , , , , , Non-Gov. Guaranteed , , , , , , , , TOTAL DISBURSEMENTS , , , , , , , , , Central Government , , , , , , Gov.Guaranteed , , , , Non-Gov. Guaranteed , , , , TOTAL DEBT SERVICE , , , Central Government , , Gov.Guaranteed Non-Gov. Guaranteed , , TOTAL PRINCIPAL REPAYT , , Central Government Gov.Guaranteed Non-Gov. Guaranteed , , TOTAL INTEREST & COM , , Central Government Gov.Guaranteed Non-Gov. Guaranteed TOTAL DEBT RELIEF Central Government Gov.Guaranteed Non-Gov. Guaranteed P' : Provisional R :Revised 1. Exchange Rate at end of period 2. Exchange Rate at day of transaction 3. The non-gov.guaranteed debt comprises of EAL and Etho Telecom 4. Gov.Guaranteed debt comprises of public enterprises debt guaranteed by Government or Government owned Banks Public Sector Debt Statistical Bulletin No / /12 (MoFED) 2
14 Table 3 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY LENDER CATEGORY, CREDITOR TYPE AND CREDITOR 1 MILLION USD 2007/ / / / / /11 R 2011/12 P USD % USD % USD % USD % USD % TOTAL 2, , , , , OFFICIAL CREDITORS 2, , , , , MULTILATERALS 1, , , , , AfDB AfDF BADEA EIB IDA , , , , IFAD IMF NDF OFID BILATERALS , , , , Paris Club Non-Paris Club , , PRIVATE CREDITORS , , , , Commercial Banks , Suppliers , , , P' : Provisional R :Revised 1. Exchange Rate at end of period Public Sector Debt Statistical Bulletin No / /12 (MoFED) 3
15 Table 4 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY CURRENCY COMPOSITION 1 MILLION USD 2007/ /12 CURRENCY 2007/ / / /11 R 2011/12 P USD % USD % USD % USD % USD % TOTAL 2, , , , , CHF CNY EUR GBP INR JPY KWD SAR SDR , , , , SEK USD 1, , , , , P' : Provisional R :Revised 1. Exchange Rate at end of period Public Sector Debt Statistical Bulletin No / /12 (MoFED) 4
16 Table 5 CHANGE IN PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY LENDER CATEGORY, CREDITOR TYPE AND CREDITOR COUNTRY/CREDITOR NAME MILLION USD Outstanding as at Drawings 1/7/ /06/2011 R 30/06/2012 P Principal Paid/Relief/Written Off 1/7/ /06/12 P Outstanding as at 30/06/2012 P Exchange Rate Variation Exchange Rate as of 30/06/11 Exchange Rate as of day of Transaction Exchange Rate as of day of Transaction Exchange Rate as of 30/06/ =4-(1+2-3) TOTAL 7, , , (250.86) OFFICIAL CREDITORS 5, , , (284.15) MULTILATERALS 3, , (177.61) AfDB (0.25) AfDF (19.08) BADEA (0.00) EIB (20.55) IDA 2, , (112.84) IFAD (7.70) IMF (14.31) NDF (2.88) OFID (0.00) BILATERAL 1, (106.55) Paris Club (41.83) Non-Paris Club 1, , (64.71) PRIVATE CREDITORS 2, , Commemrcial Banks , Suppliers 1, , (17.91) P' : Provisional R :Revised Public Sector Debt Statistical Bulletin No / /12 (MoFED) 5
17 Table 6 CHANGE IN PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY CURRENCY COMPOSITION MILLION USD CURRENCY Outstanding as at Drawings 1/7/ /06/2011 R 30/06/2012 P Principal Paid Excluding HIPC 1/7/ /06/2012 P HIPC Relief (Principal) Outstanding as at 1/7/ /06/2012 P 30/06/2012 P Exchange Rate Variation Exchange Rate as of 30/06/11 Exchange Rate as of day of Transaction Exchange Rate as of day of Transaction Exchange Rate as of day of Transaction Exchange Rate as of 30/06/ =5-( ) TOTAL 7, , , (250.86) CHF (0.01) CNY EUR (118.98) GBP (0.24) INR (0.37) ITL JPY KWD (1.35) SAR SDR 2, , (134.13) USD 4, , P' : Provisional R :Revised Public Sector Debt Statistical Bulletin No / /12 (MoFED) 6
18 2007/ / / /11 R 2011/12 P USD ETB USD ETB USD ETB USD ETB USD ETB TOTAL 2, , , , , , , , , , CENTRAL GOVERNMENT 2, , , , , , , , , , OFFICIAL CREDITORS 2, , , , , , , , , , MULTILATERALS 1, , , , , , , , , , Concessional 1, , , , , , , , , , Non-concessional BILATERALS , , , , , , , , , ODA , , , , , , , Non-ODA , , , , , PRIVATE CREDITORS Commercial Banks Suppliers GOV.GUARANTEED , , , , , , OFFICIAL CREDITORS , , , , MULTILATERALS , , , Concessional , , , Non-concessional BILATERALS , , , , ODA Non-ODA , , , , PRIVATE CREDITORS , , , , Commercial Banks , , Suppliers , , , , NON-GOV. GUARANTEED , , , , , , , , OFFICIAL CREDITORS MULTILATERALS Concessional Non-concessional BILATERALS ODA Non-ODA PRIVATE CREDITORS , , , , , , , , Commercial Banks , , , , , Suppliers , , , , , , , P' : Provisional R :Revised 1. Exchange Rate at end of period Table 7 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY LENDER CATEGORY, CREDITOR TYPE & CONCESSIONALITY 1 MILLION USD / ETB 2007/ /12 Public Sector Debt Statistical Bulletin No / /12 (MoFED) 7
19 Table 8 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY LOAN PURPOSE MILLION USD / ETB / / / / / /11 R 2011/12 P USD ETB USD ETB USD ETB USD ETB USD ETB TOTAL 2, , , , , , , , , , CENTRAL GOVERNMENT 2 2, , , , , , , , , , Project 2, , , , , , , , , , Programme , , , , Debt Reorganization , , , , , Import Others , , GOV. GUARANTEED , , , , , , Project , , , , Programme , , , Debt Reorganization Import Others NON-GOV GUARANTEED , , , , , , , , Project , , , , , , , Programme Debt Reorganization Import , , , , , Others P' : Provisional R :Revised 1. Exchange Rate at end of period 2. Central government includes IMF credit Public Sector Debt Statistical Bulletin No / /12 (MoFED) 8
20 Table 9 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING & ARREARS BY LENDER CATEGORY, CREDITOR TYPE & CONCESSIONALITY MILLION USD 1 30/06/2012 P DOD DOD Including DOD Arrears of Arrears of Total Arrears Excluding Principal Including Total Arrears Principal Interest in % of DOD Arrears Arrears Total Arrears TOTAL OUTSTANDING 8, , , CENTRAL GOVERNMENT 5, , , OFFICIAL CREDITORS 5, , , MULTILATERALS 3, , , Concessional 3, , , Non-concessional BILATERALS 1, , , ODA 1, , , Non-ODA PRIVATE CREDITORS Commercial Banks Suppliers GOV. GUARANTEED 1, , , OFFICIAL CREDITORS MULTILATERALS Concessional Non-concessional BILATERALS ODA Non-ODA PRIVATE CREDITORS Commercial Banks Suppliers NON-GOV GUARANTEED 2, , , OFFICIAL CREDITORS MULTILATERALS Concessional Non-concessional BILATERALS ODA Non-ODA PRIVATE CREDITORS 2, , , Commercial Banks Suppliers 1, , , P' : Provisional 1. Exchange Rate at end of period Public Sector Debt Statistical Bulletin No / /12 (MoFED) 9
21 Table 10 PUBLIC SECTOR EXTERNAL DEBT NEW COMMITMENTS - AMOUNT, AVERAGE TERMS & GRANT ELEMENT 2007/ / / / / /11 R 2011/12 P GRAND TOTAL Committed Amount (Mn USD) 1, , , , , Interest Rate (avg. %) Maturity (avg. yrs) Grace Period (avg.yrs) Grant Element (avg %) * CENTRAL GOVERNMENT Committed Amount (Mn USD) , , , Interest Rate (avg. %) Maturity (avg. yrs) Grace Period (avg.yrs) Grant Element (avg %) * OTHER PUBLIC SECTOR Committed Amount (Mn USD) , , Interest Rate (avg. %) Maturity (avg. yrs) Grace Period (avg.yrs) Grant Element (avg %) * *: The discount rate applied to calculate G.E. is 5.0%. R :Revised P:Provisional Public Sector Debt Statistical Bulletin No / /12 (MoFED) 10
22 ORIGINAL CURRENCY USD EQUIVALENT 1 TOTAL - 2,687,869, INTEREST RATE % GRACE PERIOD (yrs) MATURITY (yrs) CENTRAL - 1,495,598, GOVERNMENT IDA 12-Jun-12 WATER WORKS AND SUPPLY SDR 96,900, ,400, ADF 3-Feb-12 HIGHWAY TRANSPORT-INFRAST BUA 41,060, ,621, ADF 3-Feb-12 HIGHWAY TRANSPORT-INFRAST BUA 105,000, ,696, IDA 15-Sep-11 PUBLIC ADMIN, SOCIAL SERV SDR 94,700, ,652, IDA 15-Sep-11 IRRIGATION RELATED ACTIV. SDR 37,100, ,236, IDA 4-May-12 AGRICULT & LIVESTOCK PROD SDR 238,600, ,846, IDA 12-Jun-12 ELECTRICAL DISTRIBUTION SDR 129,200, ,200, IDA 12-Jun-12 SOCIAL SECURITY, WELFARE SDR 32,200, ,649, IFAD 21-Dec-11 FINANCIAL INSTITUTIONS SDR 31,300, ,140, EXIM-BANK OF KOREA 4-Jun-12 ELECTRICAL DISTRIBUTION USD 78,400, ,400, EXIM-BANK OF INDIA 12-Apr-12 SUGAR MANUFACTG & REFINING USD 47,000, ,000, GOVERNMENT OF CHINA 5-Dec-11 FRAME AGREEMENT CNY 30,000, ,677, EXIM-BANK OF CHINA 16-Aug-11 ADDIS ABABA WATER & SEWRAGE CNY 634,000, ,080, Saudi Fund 11-Oct-11 HIGHWAY TRANSPORT-INFRAST SAR 93,750, ,996, GOV.GUARANTEED 598,000, ,000, EXIM-BANK OF CHINA 30-JUN-11 SUGAR MANUFACTG & REFINING USD 123,000, ,000, LIBOR 6M EXIM-BANK OF CHINA 22-JUN-11 RAILWAYS USD 475,000, ,000, LIBOR 6M NON- 594,271, ,271, GOV.GUARANTEED J P MORGAN BANK 31-MAR-11 AIR TRANSPORT CARRIERS USD 401,575, ,575, LIBOR 3M J P MORGAN BANK 27-OCT-11 AIR TRANSPORT CARRIERS USD 192,696, ,696, LIBOR 3M Exchange rate at day of signature SIGNATURE DATE ECONOMIC SECTOR Table 11 NEW EXTERNAL LOAN COMMITMENTS BY CREDITOR TYPE AND CREDITOR ORIGINAL CURRENCY & USD EQUIVALENT 1/7/ /06/2012 CURRENCY AMOUNT TERMS Public Sector Debt Statistical Bulletin No / /12 (MoFED) 11
23 Table 12 PUBLIC SECTOR EXTERNAL DEBT DISBURSEMENT BY LENDER CATEGORY, CREDITOR TYPE AND CREDITOR COUNTRY/CREDITOR MILLION USD / / / / / /11 R 2011/12 USD % USD % USD % USD % USD % TOTAL , , , , OFFICIAL CREDITORS , , , MULTILATERALS AfDF BADEA EIB IDA IFAD IMF NDF OFID BILATERALS Paris Club Italy Non-Paris Club China India Kuwait Fund Saudi Fund PRIVATE CREDITORS , COMMERCIAL BANKS Suppliers P' : Provisional R :Revised 1. Exchange rate at day of transaction Public Sector Debt Statistical Bulletin No / /12 (MoFED) 12
24 Table 13 PUBLIC SECTOR EXTERNAL DEBT DISBURSEMENT BY ECONOMIC SECTOR 1 MILLION USD 2007/ /12 Economic Sector 2007/ / / /11 R 2011/12 P USD % USD % USD % USD % USD % TOTAL , , , , Agriculture Financial Sector Transport & communication Highway Transport - Infrastructure Electricity, Gas & Steam Industry & Tourism Education & Capacity Building Health Public and Social Admin Water Works & Supply PBS P' : Provisional R :Revised 1. Exchange rate at day of transaction Public Sector Debt Statistical Bulletin No / /12 (MoFED) 13
25 Table 14 PUBLIC SECTOR EXTERNAL DEBT QUARTERLY DISBUSEMENT BY CREDITOR TYPE AND CREDITOR MILLION USD / ETB /12 1/7/ /9/2011 1/10/ /12/2011 1/1/ /3/2012 1/4/ /6/2012 TOTAL USD ETB USD ETB USD ETB USD ETB USD ETB TOTAL , , , , , , CENTRAL GOV'T , , , , , MULTILATERALS , , , , , AfDF BADEA EIB IDA , , , , IFAD OFID IMF NDF BILATERALS , , , , Paris Club Italy Non-Paris Club , , , , China , , , India , Kuwait Fund Saudi Fund GOV. GUARANTEED , , , , BILATERALS , China , PRIVATE CREDITORS , , , Commercial Banks , , , Suppliers (0.08) (1.29) NON-GOV GUARANTEED , , , , PRIVATE CREDITORS , , , , Commercial Banks , , , Suppliers , P' : Provisional 1. Exchange Rate at day of transaction Public Sector Debt Statistical Bulletin No / /12 (MoFED) 14
26 Table 15 UNDISBURSED PUBLIC SECTOR EXTERNAL DEBT BY CREDITOR TYPE AND CREDITOR MILLION USD 1 30/06/2012 AMOUNT % TOTAL 4, CENTRAL GOV'T 3, MULTILATERALS 2, AfDF BADEA EIB IDA 1, IFAD NDF OFID BILATERALS 1, Paris Club Italy Non-Paris Club 1, China 1, India (Exim-Bank) Kuwait Fund Saudi Fund OTHER PUBLIC SECTOR PRIVATE CREDITORS Commercial Banks Suppliers Exchange rate as at end of period Public Sector Debt Statistical Bulletin No / /12 (MoFED) 15
27 USD ETB USD ETB USD ETB USD ETB USD ETB TOTAL , , , Principal , , Int & Comm , , CENTRAL GOV'T , , Principal Int & Comm Multilateral , Principal Int & Comm Bilateral Principal Int & Comm Private creditor Principal Int & Comm GOV GUARANTEED Principal Int & Comm Multilateral Principal Int & Comm Bilateral Principal Int & Comm Private creditor Principal Int & Comm NON-GOV.GUARANTEED , , Principal , , Int & Comm Bilateral Principal Int & Comm Private creditor , , Principal , , Int & Comm P' : Provisional R :Revised 1. Exchange rate at day of transaction Table 16 DEBT SERVICE PAYMENTS ON PUBLIC SECTOR EXTERNAL DEBT BY LENDER CATEGORY AND CREDITOR TYPE MILLION USD / ETB / / / / / /11 R 2011/12 P Public Sector Debt Statistical Bulletin No / /12 (MoFED) 16
28 Table 17 QUARTERLY DEBT SERVICE PAYMENTS ON PUBLIC SECTOR EXTERNAL DEBT BY LENDER CATEGORY, CREDITOR TYPE AND CREDITOR MILLION USD /12 1/7/ /9/2011 1/10/ /12/2011 1/1/ /3/2012 1/4/ /6/2012 TOTAL Principal Int. & Com. Principal Int. & Com. Principal Int. & Com. Principal Int. & Com. Principal Int. & Com. Total TOTAL CENTRAL GOV'T MULTILATERALS AfDB AfDF BADEA EIB IDA IFAD NDF OFID BILATERALS Paris Club Italy Non-Paris Club India Korea D.P.R Kuwait Fund Saudi Fund China GOV. GUARANTEED BILATERALS China PRIVATE CREDITORS Commercial Banks Suppliers NON-GOV GUARANTEED PRIVATE CREDITORS Commercial Banks Suppliers P' : Provisional 1. Exchange Rate at day of transaction Public Sector Debt Statistical Bulletin No / /12 (MoFED) 17
29 Table 18 PUBLIC SECTOR EXTERNAL DEBT EXTERNAL DEBT RELIEF BY CREDITOR TYPE & CREDITOR MILLION USD / / / / / /11 R 2011/12 p TOTAL FLOW RELIEF Multilateral AfDB/AfDF Other Multilaterals STOCK RELIEF / WRITE-OFF Bilateral Paris Club Austria Non-Paris Club India P' : Provisional R :Revised 1. Exchange rate at day of transaction Public Sector Debt Statistical Bulletin No / /12 (MoFED) 18
30 Table 19 PUBLIC SECTOR EXTERNAL DEBT NET FLOWS & NET TRANSFERS ON PUBLIC SECTOR EXTERNAL DEBT MILLION USD 1 1/7/ /06/2012 Drawings Principal Paid Net Flows Int. & Comm. Paid Net Transfer TOTAL 1, , , OFFICIAL CREDITORS 1, , MULTILATERALS ADB (1.42) 0.15 (1.05) ADF BADEA EIB (7.51) 2.02 (9.53) IDA IFAD NDF OFID (0.27) 0.98 (1.25) BILATERALS Paris Club (18.62) 2.66 (21.27) Italy (18.62) 2.66 (21.27) Non-Paris Club China India Korea D.P.R (0.17) - (0.17) Kuwait Fund Saudi Fund PRIVATE CREDITORS Commercial Banks Suppliers (8.68) (29.25) 1. Exchange Rate at day of transaction Public Sector Debt Statistical Bulletin No / /12 (MoFED) 19
31 Table 20 DOMESTIC DEBT OUTSTANDING BY INSTRUMENT TYPE/HOLDRES MILLION ETB 2007/ / / / / /11 R 2011/12 P ETB % ETB % ETB % ETB % ETB % TOTAL 54, , , , , Government Bonds 14, , , , , NBE 9, , , , , Interest Bearing Non-Interest Bearing 9, , , , , CBE 4, , , , , Interest Bearing 1, , , Non-Interest Bearing 2, , , , , DBE Interest Bearing Non-Interest Bearing CBB Interest Bearing Non-Interest Bearing PSSA Interest Bearing Non-Interest Bearing Treasury Bills 7, , , , , Days , , , Banks , , Non-Banks , Days 3, , , , , Banks , , , Non-Banks 2, , , , , Days 4, , , , , Banks 2, , , Non-Banks 1, , , , , Days , Banks 3, Non-Banks Direct Advance 31, , , , , R' : Revised P' : Provisional Public Sector Debt Statistical Bulletin No / /12 (MoFED) 20
32 Table 21 DOMESTIC DEBT OUTSTANDING BY HOLDERS MILLION ETB 2007/ / / / / /11 R 2011/12 P ETB % ETB % ETB % ETB % ETB % TOTAL 54, , , , , Banks 48, , , , , NBE 41, , , , , CBE 6, , , , , DBE , , Other Banks , , , Non Banks 5, , , , , PSSA 2, , , , , Others 3, , , , , R' : Revised P' : Provisional Other Banks: All Private Banks, CBB Public Sector Debt Statistical Bulletin No / /12 (MoFED) 21
33 Table 22 DOMESTIC DEBT SERVICE PAYMENT MILLION ETB 2007/ / / / / /11 R 2011/12 P ETB % ETB % ETB % ETB % ETB % TOTAL 1, , , , , PRINCIPAL Bonds Treasury Bills Direct Advance ` INTEREST , , , , Bonds Treasury Bills Direct Advance , , , R' : Revised P' : Provisional Public Sector Debt Statistical Bulletin No / /12 (MoFED) 22
34 Table 23 TOTAL PUBLIC DEBT OUTSTANDING Mn USD / / / / / /11 R 2011/12P USD % USD % USD % USD % USD % Total Public Debt 8, , , , , External Debt 2, , , , , Domestic Debt 5, , , , , Domestic debt is changed into USD using Exchange Rate at end of period P' : Provisional R: Revised Public Sector Debt Statistical Bulletin No / /12 (MoFED) 23
35 PART III CHARTS
36 Million USD CHART 1 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING 6,000 5,000 4,000 3,000 2,000 1, Central Government Gov. Guaranteed Non-Gov. Guaranteed Public Sector Debt Statistical Bulletin No / /12 (MoFED) 24
37 CHART 2 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY MAJOR CREDITOR AS AT JUNE 30, 2012 PRIVATE 30.28% MULTILATERAL 45.16% NON-PARIS CLUB 19.96% PARIS CLUB 4.60% Public Sector Debt Statistical Bulletin No / /12 (MoFED) 25
38 Million USD CHART 3 PUBLIC SECTOR EXTERNAL DEBT OUTSTANDING BY MAJOR CURRENCY 9, , , , , , , , , , , , , , , , , , Others EUR USD SDR Public Sector Debt Statistical Bulletin No / /12 (MoFED) 26
39 Million USD CHART 4 EXTERNAL PUBLIC DEBT SERVICE PAYMENT /08 08/09 09/10 10/11 11/12 Principal Repayment Interest Payment Total Debt Service Public Sector Debt Statistical Bulletin No / /12 (MoFED) 27
40 Million USD CHART 5 DISBURSEMENT BY MAJOR CREDITOR 1, , /08 08/09 09/10 10/11 11/12 Multilaterals Official Bilaterals Private Creditors Public Sector Debt Statistical Bulletin No / /12 (MoFED) 28
41 CHART 6 EXTERNAL DEBT RELIEF M i l i o n U S D 07/08 08/09 09/10 10/11 11/12 Bilateral Multilateral. Public Sector Debt Statistical Bulletin No / /12 (MoFED) 29
42 Million USD Chart 7 NET RESOURCE FLOW & TRANSFER 01/07/ /06/ Net Flows Net Transfers Multilaterals Non-Paris Club Paris Club Private Creditors TOTAL Public Sector Debt Statistical Bulletin No / /12 (MoFED) 30
43 MILLION ETB Chart 8 DOMESTIC DEBT OUTSTANDING BY INSTRUMENT 80, , , , , , , , / / / / /12 Government Bonds Treasury Bills Direct Advance Total Public Sector Debt Statistical Bulletin No / /12 (MoFED) 31
44 Chart 9 DOMESTIC DEBT OUTSTANDING BY HOLDER AS AT 30/06/2012 OTHER BANKS 3.00% Non Banks 12.62% DBE 10.02% CBE 3.35% NBE 71.01% Public Sector Debt Statistical Bulletin No / /12 (MoFED) 32
45 Million ETB Chart 10 DOMESTIC DEBT SERVICE PAYMENT 2, , , , , , , , , , , , , /08 08/09 09/10 10/11 11/12 Principal Repayment Interest Payment Total Debt Service Public Sector Debt Statistical Bulletin No / /12 (MoFED) 33
46 PART IV DEFINITIONS
47 DEFINITIONS It is hoped that the following definitions could help the reader to understand the concepts and correctly interpret the figures provided in the various tables. The definitions are taken from: External Debt Management: An Introduction, by Thomas M. Klein, World Bank Technical Paper No. 245 External Debt Statistics: Guide for Compilers and Users, BIS, ComSec, Eurostat, IMF, OECD, Paris Club Secretariat, UNCTAD, World Bank, Debt and DMFAS Glossary, UNCTAD, 2008 A Allocation of a Tranche: All or part of a loan/grant tranche assigned to finance projects or programmes. Amortization: The repayment of principal of a loan spread out over a period of time. Amortization Schedule: The schedule for the repayment of principal and payment of interest on an ongoing basis. Arrears: The total of scheduled debt service payments that have fallen due but remain unpaid. B Bilateral Creditor: In DMFAS, it refers to a type of creditor in the context of external debt. Official bilateral creditors include governments and their agencies (including Central Bank), autonomous public bodies or official export credit agencies. Bilateral Debt: Loans extended by a bilateral creditor. Borrower (debtor): The organization or the entity defined as such in the loan contract which usually is responsible for servicing the debt. C Cancellation: An agreed reduction in the undisbursed balance of a loan commitment. Commercial Credit: In the context of the Paris Club, loans originally extended on terms that do not qualify as official development assistance (ODA) credits. Commercial Interest Reference Rates (CIRR): A set of currency-specific interest rates for major OECD countries. Commitment: An obligation to furnish resource of a given amount under specified financial terms and conditions. Commitment Charge (fee): Charge or fee made for holding available the undisbursed balance of a loan commitment. Commitment Date: The date on which the commitment occurs. Public Sector Debt Statistical Bulletin No / /12 (MoFED) i
ETHIOPIA S MEDIUM TERM DEBT MANAGEMENT STRATEGY (2013-2017)
ETHIOPIA S MEDIUM TERM DEBT MANAGEMENT STRATEGY (2013-2017) October 2012 Addis Ababa Ethiopia Ethiopia s Medium Term Debt Strategy [2013-2017] Page 1 Contents FOREWORD... 7 ACKNOWLEDGEMENT... 9 EXECUTIVE
More informationANNUAL REVIEW OF THE PUBLIC DEBT PORTFOLIO
MINISTRY OF FINANCE, ECONOMIC PLANNING AND DEVELOPMENT Debt and Aid Management Division ANNUAL REVIEW OF THE PUBLIC DEBT PORTFOLIO (JULY 2013-JUNE 2014) August 2014 PREFACE The Debt and Aid Management
More informationMEDIUM TERM DEBT STRATEGY
REPUBLIC OF RWANDA MEDIUM TERM DEBT STRATEGY MINISTRY OF FINANCE AND ECONOMIC PLANNING June 2015 Clement NCUTI [Type the company name] 12/21/2011 1 P a g e CONTENTS 1 CONTENTS 2 ABBREVIATIONS 3 INTRODUCTION
More informationAnnual Borrowing Plan
20154 Bosnia and Herzegovina Federation of Bosnia and Herzegovina Federal Ministry of Finance Annual Borrowing Plan 2016 January 2016 www.fmf.gov.ba INTRODUCTION In order to increase transparency, fiscal
More informationLodewyk Erasmus IMF Resident Representative Khartoum
Lodewyk Erasmus IMF Resident Representative Khartoum Sudan s External Debt External debt at end-2013 Amounted to $45 billion Equal to 691 percent of exports Equal to 64 percent of GDP Almost 88 percent
More informationAppendix 5. Heavily Indebted Poor Countries (HIPC) Initiative and
Appendix 5. Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) 1 1. The objective of the Heavily Indebted Poor Countries (HIPC) Initiative of the IMF and World
More informationCentral Bank of Egypt
Central Bank of Egypt External Position of the Egyptian Economy July/March 2013/14 Quarterly Report Volume No. (45) Central Bank of Egypt External Position Preface The External Position of the Egyptian
More informationDebt Management and DMFAS Experience
Arab Republic of Egypt Central Bank OF Egypt Debt Management and DMFAS Experience Tenth Advisory Group Meeting Geneva, 26-27 November 2015 1 OUTLINE Central Bank of Egypt Debt Management History DMFAS
More informationINDIA S EXTERNAL DEBT AS AT END-DECEMBER 2014
GOVERNMENT OF INDIA INDIA S EXTERNAL DEBT AS AT END-DECEMBER 2014 MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS EXTERNAL DEBT MANAGEMENT UNIT MARCH 2015 www.finmin.nic.in INDIA S EXTERNAL DEBT AS
More informationOutstanding Loans Received From Abroad by Private Sector. Definitions and Explanations. Statistics Department Balance of Payments Division
Outstanding Loans Received From Abroad by Private Sector Definitions and Explanations Statistics Department Balance of Payments Division Contents I- Definitions... 3 II- Compilation Of The External Debt
More informationThis note provides additional information to understand the Debt Relief statistics reported in the GPEX Tables.
Technical Note 3 Debt Relief This note provides additional information to understand the Debt Relief statistics reported in the GPEX Tables. Introduction 1. Debt is a major development issue. There is
More informationCentral Bank of Egypt
Central Bank of Egypt External Position of the Egyptian Economy July/December 2013/14 Quarterly Report Volume No. (44) Central Bank of Egypt External Position Preface The External Position of the Egyptian
More informationPublic Debt Management Strategy (PDMS) 2016
THE REPUBLIC OF UGANDA Public Debt Management Strategy (PDMS) 2016 2016/17 2020/21 June 2016 Public Debt Management Strategy 2016 Page 1 Directorate of Debt and Cash Management MINISTRY OF FINANCE, PLANNING
More informationZAMBIA COUNTRY DEBT PROFILE
ZAMBIA COUNTRY DEBT PROFILE UPDATED 2015 Economic and Social Analysis Zambia's economic growth in real terms decreased to 6.5% in 2013, mainly due to a fall in agricultural output, particularly maize and
More informationPUBLIC DEBT MANAGEMENT REPORT
REPUBLIC OF KENYA MINISTRY OF FINANCE Debt Management Department ANNUAL PUBLIC DEBT MANAGEMENT REPORT July 2005 June 2006 March 2007 Information in this publication may be reproduced without restriction
More informationContents FOREWORD... I ACRONYMS... III-IV SECTION 1: OVERVIEW... 5
Contents FOREWORD... I ACRONYMS... III-IV SECTION 1: OVERVIEW... 5 1.1 DEBT MANAGEMENT OBJECTIVES AND POLICIES 5 1.2 DEBT MANAGEMENT STRATEGY... 5 1.3. MACROECONOMIC PERFORMANCE IN 2014... 5 1.4. OUTLINE
More informationDebt and DMFAS GLOSSARY
CONFÉRENCE DES NATIONS UNIES SUR LE COMMERCE ET LE DÉVELOPPEMENT UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT July 2000 DEBT MANAGEMENT AND FINANCIAL ANALYSIS SYSTEM Debt and DMFAS GLOSSARY UNCTAD/GID/DMFAS/Misc.3/Rev.3
More informationDAC and Non-DAC Donors at the Crossroads: The problem of Export Credits. Pranay Sinha University of Birmingham
DAC and Non-DAC Donors at the Crossroads: The problem of Export Credits Pranay Sinha University of Birmingham Context Non DAC donors growing development financing without transparent information sharing
More informationHaiti: An IFAD structure for permanent debt relief
Document: EB 2010/99/R.8 Agenda: 7 Date: 15 April 2010 Distribution: Public Original: English E Haiti: An IFAD structure for permanent debt relief Executive Board Ninety-ninth Session Rome, 21-22 April
More informationASIAN DEVELOPMENT FUND (ADF) ADF X MIDTERM REVIEW MEETING. Update on the Status of Debt Relief
ASIAN DEVELOPMENT FUND (ADF) ADF X MIDTERM REVIEW MEETING Update on the Status of Debt Relief October 2010 ABBREVIATIONS ADB Asian Development Bank ADF Asian Development Fund HIPC Heavily Indebted Poor
More informationREPUBLIC OF KENYA COUNTY GOVERNMENT OF LAIKIPIA MEDIUM TERM DEBT MANAGEMENT STRATEGY 2013/14-2017/18
REPUBLIC OF KENYA COUNTY GOVERNMENT OF LAIKIPIA MEDIUM TERM DEBT MANAGEMENT STRATEGY 2013/14-2017/18 COUNTY EXECUTIVE MEMBER, FINANCE, PLANNING AND COUNTY DEVELOPMENT LAIKIPIA COUNTY February 2014 i EXECUTIVE
More informationAntigua and Barbuda. Debt Profile Review 2006 to 2010
Government of Antigua and Barbuda Antigua and Barbuda Debt Profile Review 2006 to 2010 Prepared by: Debt Management Advisory Service (DMAS) Unit in collaboration with the Antigua and Barbuda Debt Management
More informationMyanmar s debt: What s behind the speedy efforts to restructure it? A Eurodad briefing paper by Diana Hulova. Summary
Myanmar s debt: What s behind the speedy efforts to restructure it? A Eurodad briefing paper by Diana Hulova Summary Myanmar (Burma) 1, one of the world s poorest countries, has been subject to a number
More informationMonthly Update. January 2014
Monthly Update Politics On the 29 th of January, the President of the Republic of Serbia Mr. Tomislav Nikolic called for earlier Parliamentary elections for the 16 th of March 2014, in order to speed up
More informationMDRI HIPC. heavily indebted poor countries initiative. To provide additional support to HIPCs to reach the MDGs.
Goal To ensure deep, broad and fast debt relief and thereby contribute toward growth, poverty reduction, and debt sustainability in the poorest, most heavily indebted countries. HIPC heavily indebted poor
More informationSpecial Drawing Rights A Way out of Global Imbalances?
Special Drawing Rights A Way out of Global Imbalances? Stefan Bender Special Drawing Rights Definition Special Drawing Rights (SDR) are the monetary unit of the reserve assets of the International Monetary
More informationLEBANON'S DEBT MANAGEMENT FRAMEWORK
LEBANON'S DEBT MANAGEMENT FRAMEWORK FOR 2010-2015 MARCH 2010 For further information, please contact: 1 DEBT MANAGEMENT FRAMEWORK FOR 2010-2015 CONTENTS I. Purpose of the report... 5 II. Regulatory framework...
More informationDebt Reorganization and Related Transactions
APPENDIX 2 Debt Reorganization and Related Transactions A. Debt Reorganization Reference: IMF and others, External Debt Statistics: Guide for Compilers and Users, Chapter 8, Debt Reorganization. A2.1 This
More informationDebt Management Strategy
Debt Management Strategy Debt Management Unit Ministry of Finance & Treasury March 2012 EXECUTIVE SUMMARY This debt management strategy is the first to be developed by the Solomon Island Government (SIG).
More informationRepublic of Tajikistan: Joint Bank-Fund Debt Sustainability Analysis
February 2006 Republic of Tajikistan: Joint Bank-Fund Debt Sustainability Analysis Tajikistan s risk of debt distress is moderate. Under the baseline scenario, all the external debt burden indicators are
More informationPublication No. 8 KEY ANALYTICAL ISSUES FOR GOVERNMENT EXTERNAL FINANCING. Alison Johnson and Matthew Martin
Publication No. 8 KEY ANALYTICAL ISSUES FOR GOVERNMENT EXTERNAL FINANCING Alison Johnson and Matthew Martin Debt Relief International Ltd January 2004 Second Edition First Edition published in 2003 (ISBN:
More informationDebt Recording and Management System (CS-DRMS)
Debt Recording and Management System (CS-DRMS) a complete solution for sovereign, sub-national and parastatal debt management one step ahead... An integrated solution for managing public debt Government
More informationTHE UNITED REPUBLIC OF TANZANIA MINISTRY OF FINANCE MEDIUM TERM DEBT MANAGEMENT STRATEGY
THE UNITED REPUBLIC OF TANZANIA MINISTRY OF FINANCE MEDIUM TERM DEBT MANAGEMENT STRATEGY JUNE, 2011 Table of Contents TABLE OF CONTENTS... II LIST OF TABLES... III LIST OF FIGURES... III ACRONYMS AND ABBREVIATIONS...
More informationMULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Study Questions 6 (Foreign Exchange Markets) MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The currency used to buy imported goods is 1) A) the
More informationGOVERNMENT OF ST. KITTS AND NEVIS
GOVERNMENT OF ST. KITTS AND NEVIS MEDIUM-TERM DEBT MANAGEMENT STRATEGY 2013-2015 Prepared by: Ministry of Finance December 2012 TABLE OF CONTENTS I. Introduction.. 1 II. Medium-Term Debt Management Objectives.
More informationUNIFICATION OF DISCOUNT RATES USED IN EXTERNAL DEBT ANALYSIS FOR LOW-INCOME COUNTRIES
October 4, 2013 UNIFICATION OF DISCOUNT RATES USED IN EXTERNAL DEBT ANALYSIS FOR LOW-INCOME COUNTRIES EXECUTIVE SUMMARY This paper proposes reforms to the discount rates used by the Bank and the Fund to
More informationPublication No. 3 THE PARIS CLUB. Juan Carlos Vilanova and Matthew Martin
Publication No. 3 THE PARIS CLUB Juan Carlos Vilanova and Matthew Martin Debt Relief International Ltd 2001 ISBN 1-903971-05-5 Copyright 2001 by Debt Relief International Ltd. Permission must be obtained
More informationMajor Terms and Conditions of the IBRD Fixed Spread Loan (FSL) i
Major Terms and Conditions of the IBRD Fixed Spread Loan (FSL) i The interest rate on FSLs consists of (a) a variable base rate of six-month LIBOR 1 in respect of each interest period for each loan; and
More informationV. PUBLIC DEBT MANAGEMENT 5.0 Public Debt
V. PUBLIC DEBT MANAGEMENT 5.0 Public Debt L iberia s aggregate debt stock for 2005 stood at approximately US$3,510.8 million, indicating an increase of about 3.6 percent over the level recorded at end
More informationDebt Relief: Iraq. Background. - Iraq 666
Debt Relief: Iraq Commitment We reaffirm our intention to reduce Iraq's debt by implementing the terms of the November 2004 Paris Club agreement. We call on other creditors to provide debt relief on generous
More informationHIPC MDRI MULTILATERAL DEBT RELIEF INITIATIVE HEAVILY INDEBTED POOR COUNTRIES INITIATIVE GOAL GOAL
GOAL To ensure deep, broad and fast debt relief and thereby contribute toward growth, poverty reduction, and debt sustainability in the poorest, most heavily indebted countries. HIPC HEAVILY INDEBTED POOR
More informationAnnual Report 2009-2010
Annual Report 2009-2010 CANADA ACCOUNT CANADA ACCOUNT ANNUAL REPORT FOR THE GOVERNMENT OF CANADA YEAR ENDING MARCH 31, 2010 Table of Contents Overview 1 Authority 1 Risk Management 1 Management 2 Eligibility
More informationChild Rights Governance
Child Rights Governance Policy brief: Overcoming the debt trap and promoting responsible borrowing to improve investment on children Introduction Borrowing is one way of financing public investments in
More informationThe table below shows Capita Asset Services forecast of the expected movement in medium term interest rates:
Annex A Forecast of interest rates as at September 2015 The table below shows Capita Asset Services forecast of the expected movement in medium term interest rates: NOW Sep-15 Dec-15 Mar-16 Jun-16 Sep-16
More informationDividends Tax: Summary of withholding tax rates per South African Double Taxation Agreements currently in force Version: 2 Updated: 2012-05-22
Dividends Tax: Summary of withholding tax rates per South African Double Taxation Agreements currently in force Version: 2 Updated: 2012-05-22 Note: A summary of the rates and the relevant provisions relating
More informationPublic Debt. Chapter 9
Chapter 9 Public Debt 9.1 Introduction Public debt management is the process of establishing and executing an effective policy for managing public debt portfolio in order to raise required amount of funding,
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationTANZANIA COUNTRY PROFILE
TANZANIA COUNTRY PROFILE 1. Political Background Table 1: Political Overview Date of independence 26 April 1964; Tanganyika became independent on 9 December 1961 (from UK-administered UN trusteeship);
More informationNew borrowing post-debt relief: risks and challenges for developing countries
New borrowing post-debt relief: risks and challenges for developing countries Emmanuel Rocher International and European Relations Directorate CFA Franc Area Division By implementing the initiative for
More informationUpdate on ADF-13 Financing Framework
Update on ADF-13 Financing Framework Discussion Paper ADF-13 Mid-term Review 11-13, November 2015 Abidjan, Cote d Ivoire AFRICAN DEVELOPMENT FUND Table of Contents Abbreviations... ii 1. Introduction...
More informationAnnual Report 2008-2009 CANADA ACCOUNT
Annual Report 2008-2009 CANADA ACCOUNT CANADA ACCOUNT ANNUAL REPORT FOR THE GOVERNMENT OF CANADA YEAR ENDING MARCH 31, 2009 Table of Contents Overview 1 Authority 1 Risk Management 1 Management 2 Eligibility
More informationSlovak Republic. Annual Observance Report of the Special Data Dissemination Standard for 2010 I. INTRODUCTION II.
Slovak Republic Annual Observance Report of the Special Data Dissemination Standard for 2010 I. INTRODUCTION 1. The IMF s work on data dissemination standards began in October 1995, when the Interim Committee
More informationSCHRODER INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. Disclosure and disclaimers to the dividend calendar:
SCHRODER INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. Disclosure and disclaimers to the dividend calendar: Distribution frequency Dividends will be declared as annual dividends or may be paid more frequently
More informationDevelopment aid in 2015 continues to grow despite costs for in-donor refugees
OECD Paris, 13 April 2016 Development aid in 2015 continues to grow despite costs for in-donor refugees 2015 Preliminary ODA Figures In 2015, net official development assistance (ODA) flows from member
More informationHow To Get Hermes Cover On Credit
practical information hermes cover special Cover for local-currency receivables march 2012 practical information hermes cover special Cover for local-currency receivables Export contracts are for the most
More informationSummary of the Financial Statements for the Fiscal Year ending September 2008 (In accordance with the pre-amendment/pre-abolishment JBIC Law)
Summary of the Financial Statements for the Fiscal Year ending September 2008 (In accordance with the pre-amendment/pre-abolishment JBIC Law) Japan International Cooperation Agency Japan Finance Corporation
More informationThe Paris Club THE EMERGING OF A MULTILATERAL FORUM FOR DEBT RESTRUCTURING
The Paris Club THE EMERGING OF A MULTILATERAL FORUM FOR DEBT RESTRUCTURING AD HOC COMMITTEE ON A MULTILATERAL FRAMEWORK FOR SOVEREIGN RESTRUCTURING PROCESS UNCTAD & UN GENERAL ASSEMBLY 3 5 FEBRUARY 2015
More informationA New Effective Exchange Rate Index for the Canadian Dollar
A New Effective Exchange Rate Index for the Canadian Dollar Janone Ong, Financial Markets Department A new Canadian-dollar effective exchange rate index (CERI) has been created to replace the C 6 index
More informationManual. on E- ffective. Debt. Management ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PACIFIC
Manual on E- ffective Debt Management ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PACIFIC ESCAP is the regional development arm of the United Nations and serves as the main economic and social development
More informationTHE UNITED REPUBLIC OF TANZANIA MINISTRY OF FINANCE MEDIUM TERM DEBT MANAGEMENT STRATEGY
THE UNITED REPUBLIC OF TANZANIA MINISTRY OF FINANCE MEDIUM TERM DEBT MANAGEMENT STRATEGY NOVEMBER, 2013 TABLE OF CONTENTS TABLE OF CONTENTS... I ACRONYMS AND ABBREVIATIONS... II EXECUTIVE SUMMARY... IV
More informationQuest for Growth Results for Q3, January-March 2003
Quest for Growth Results for Q3, January-March 2003 1 Jan Keuppens joins Quest Management Investment Manager Quoted Portfolio of Quest for Growth Former technology analyst with AXA Investment Managers,
More informationPublic Sector Debt - Instructions
Public Sector Debt - Instructions Under the auspices of the Task Force on Finance Statistics 1 the World Bank has developed a new database to disseminate quarterly data on government, and more broadly,
More informationHow to Open a Foreign Currency Account
How to Open a Foreign Currency Account Quick facts on how Ethiopians and Ethiopian Origin living in the Diaspora can open the Foreign Currency Account in their country of origin. Requirements:- 1. Who
More informationPublic Debt Management
Public Debt Management quarterly report Apr-Jun 2010 Government of India Ministry of finance Department of economic affairs September 2010 www.finmin.nic.in CONTENTS Section Page No. Introduction 1 1 Macroeconomic
More informationTHE GROUP OF 8 EXTERNAL DEBT CANCELLATION Effects and implications for Guyana
THE GROUP OF 8 EXTERNAL DEBT CANCELLATION Effects and implications for Guyana Introduction Guyana is one of the most indebted emerging market economies in the world. In 2004, its total public external
More informationGovernment Accounting Standards Advisory Board
GASAB IGAS 10 Public Debt and Other Liabilities of Governments: Disclosure Requirements Government Accounting Standards Advisory Board CONTENTS Indian Government Accounting Standard (IGAS) 10 Public Debt
More informationMedium Term Debt Management Strategy (MTDS)
REPUBLIC OF UGANDA Medium Term Debt Management Strategy (MTDS) 2015/16 2019/20 April 2015 REPUBLIC OF UGANDA MediumTermDebtManagementStrategy (MTDS) 2015/16 2019/20 April2015 MediumTermDebtManagementStrategy2015
More informationRecent Developments and Outlook for the Mexican Economy Credit Suisse, 2016 Macro Conference April 19, 2016
Credit Suisse, Macro Conference April 19, Outline 1 Inflation and Monetary Policy 2 Recent Developments and Outlook for the Mexican Economy 3 Final Remarks 2 In line with its constitutional mandate, the
More informationBusiness Banking Fees and Limits
Business Banking Fees and Limits Effective June 2015 a What s Inside Here. 1 Our fees 2 Transaction account, savings accounts and investments 9 International accounts and services 12 Business lending 16
More informationTaking stock of China s external debt: low indebtedness, but rapid growth is a concern
1991 1993 1995 1997 1999 21 23 25 27 29 211 213 1991 1992 1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 25 26 27 28 29 21 211 212 213 ECONOMIC ANALYSIS Taking stock of China s external debt: low indebtedness,
More informationAFRICAN DEVELOPMENT BANK GROUP DEMOCRATIC REPUBLIC OF CONGO: COMPLETION POINT DOCUMENT UNDER THE ENHANCED HIPC INITITIAVE
AFRICAN DEVELOPMENT BANK GROUP DEMOCRATIC REPUBLIC OF CONGO: COMPLETION POINT DOCUMENT UNDER THE ENHANCED HIPC INITITIAVE April 2011 TABLE OF CONTENT List of Acronyms and Abbreviations... ii Executive
More informationDMFAS Programme News
ISSUE 17 g DMFAS Programme News April 2016 Inside this issue 1. Gabon strengthens its technical skills : a new DMFAS Oracle/SQL course 2. Successful implementation of DMFAS 6 in the Islamic Republic of
More informationThe Multilateral Debt Relief Initiative: Implementation Modalities for IDA
The Multilateral Debt Relief Initiative: Implementation Modalities for IDA International Development Association November 18, 2005 ABBREVIATIONS AND ACRONYMS AfDF CAS CP CPIA DOD DSA DSF HIPC IBRD IDA
More informationTerms of Reference 1. BACKGROUND
Terms of Reference Review of the European Commission s Sector Policy Support Programme in Support of Ethiopia s Roads Sector Development Programme (9 ACP ET 015 + 9.ACP.ET.30, Financing Agreement No. 9527/ET)
More informationIS SOVEREIGN DEBT AN ISSUE FOR SUBSAHARAN AFRICA? By Fanwell Kenala Bokosi, PhD. Introduction
IS SOVEREIGN DEBT AN ISSUE FOR SUBSAHARAN AFRICA? By Fanwell Kenala Bokosi, PhD Introduction The issue of sovereign debt has been a continuous issue on the continent. Concern with the high levels of debt
More informationMain Indicators for the Finnish Economy
BANK OF FINLAND Monetary Policy and Research - Financial Markets and Statistics Main Indicators for the Finnish Economy 1/11 January 1 January 11 Monetary Policy and Research - Financial Markets and Statistics
More informationOpening Diaspora Account
Opening Diaspora Account What is Diaspora Account? It is a deposit account targeted for Ethiopians in Diaspora to open and use foreign currency account at home country. Individuals and companies can open
More informationMain Indicators for the Finnish Economy
BANK OF FINLAND Monetary Policy and Research - Financial Markets and Statistics Main Indicators for the Finnish Economy 3/11 17 March 11 Main Indicators for the Finnish Economy is produced jointly by the
More informationQUARTERLY FINANCIAL ACCOUNTS NORGES BANK I. INTRODUCTION
QUARTERLY FINANCIAL ACCOUNTS NORGES BANK I. INTRODUCTION Statistics Norway published the first set of annual financial balance sheets in 1957. The accounts recorded the stocks of financial assets and liabilities
More informationTHE US DOLLAR, THE EURO, THE JAPANESE YEN AND THE CHINESE YUAN IN THE FOREIGN EXCHANGE MARKET A COMPARATIVE ANALYSIS
THE US DOLLAR, THE EURO, THE JAPANESE YEN AND THE CHINESE YUAN IN THE FOREIGN EXCHANGE MARKET A COMPARATIVE ANALYSIS ORASTEAN Ramona Lucian Blaga University of Sibiu, Romania Abstract: This paper exposes
More informationHaiti s debt burden- the real story. A EURODAD analysis By Murat Kotan February 2010
Haiti s debt burden- the real story A EURODAD analysis By Murat Kotan February 2010 1 About Eurodad EURODAD (the European Network on Debt and Development) is a network of 59 nongovernmental organisations
More informationTERMS OF REFERENCE. Domestic Debt Expert: To develop an E-Learning Course for Introduction to Domestic Debt Management
TERMS OF REFERENCE Domestic Debt Expert: To develop an E-Learning Course for Introduction to Domestic Debt Management 1. Background The Debt Management Section (DMS) which implements the Commonwealth Secretariat
More information2015 ONTARIO BUDGET Schedule of Debt
2015 ONTARIO BUDGET Schedule of Debt Outstanding Debt - Consolidated Summary Interim 2015 ($ Millions) Province OEFC 2014-15 2013-14 Debt Non-Public Debt Issued by the Province Guaranteed by the Province
More informationGE Capital. Long Term Debt Overview. Unsecured debt with maturities from 1-30 years
Long Term Debt Overview Unsecured debt with maturities from 1-30 years "This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
More informationTurkish Arab Economic Forum June 29, 2012. Mehmet Şimşek. Minister of Finance
Turkish Arab Economic Forum June 29, 2012 Mehmet Şimşek Minister of Finance 1 Outline Turkey: Short Term Outlook Managing a Soft Landing Fallout from the Euro Crisis Turkey & MENA REBALANCING Growing ON
More information1. Debit the account specified by the Customer for the amount agreed to for the purchase of the foreign currency;
Foreign Exchange FX Direct - User Guide RULES OF OPERATION The FX Direct Service is provided by Royal Bank of Canada (the Bank). A) When Does a Foreign Exchange Deal Exist? A valid and binding transaction
More informationSRI LANKA SECTOR QUARTERLY UPDATE. Highlights
SRI LANKA SECTOR QUARTERLY UPDATE FIRST QUARTER 21 Highlights Introduction : This note is prepared by the World Bank Colombo Office to review the trends of some of the key indicators which have an impact
More informationMain Indicators for the Finnish Economy
BANK OF FINLAND Monetary Policy and Research - Financial Markets and Statistics Main Indicators for the Finnish Economy /1 13 April 1 13 April 1 Monetary Policy and Research - Financial Markets and Statistics
More information2 Constant prices of 1997.
2 Constant prices of 1997. Table 1 Financial history of debt (In special drawing rights) Amount disbursed (loan closing on 30 September 1989) Payment instalments billed (final maturity 1 March 2001)
More informationEMERGING MARKET CURRENCY PAIRS CURRENCY GUIDE
EMERGING MARKET CURRENCY PAIRS CURRENCY GUIDE /MXN /Mexico 14.597/12.548 168.8 14.5500 14.2500 13.9500 13.7000 13.4000 13.1000 12.7767 JAN 9 FEB 28 APR 21 JUN 11 JUL 30 SEP 18 NOV 7 12.5500 The /MXN is
More informationInternational Development Association
International Development Association Management s Discussion & Analysis and Financial Statements June 30, 2014 INTERNATIONAL DEVELOPMENT ASSOCIATION MANAGEMENT S DISCUSSION AND ANALYSIS JUNE 30, 2014
More informationMoney market portfolio
1 Money market portfolio April 11 Management of Norges Bank s money market portfolio Report for the fourth quarter 1 Contents 1 Key figures Market value and return 3 3 Market risk and management guidelines
More informationBuilding on International Debt Relief Initiatives. Testimony for the Senate Foreign Relations Committee
Building on International Debt Relief Initiatives Testimony for the Senate Foreign Relations Committee Nancy Birdsall, President, Center for Global Development April 24, 2008 Introduction Senator Casey,
More informationPUBLIC DEBT MANAGEMENT MANUAL PROCEDURES
PUBLIC DEBT MANAGEMENT MANUAL PROCEDURES Rwanda Ministry of Finance and Economic Planning July 2012 Version Sheet Version Sheet Release No. Version 1.0 Version 2.0 Version 3.0 Version 4.0 Date 27/01/2012
More informationDevelopment aid stable in 2014 but flows to poorest countries still falling. Detailed summary
OECD - Paris, 8 April 2015 Development aid stable in 2014 but flows to poorest countries still falling Key aid totals in 2014 Detailed summary In 2014, net official development assistance (ODA) flows from
More informationPublic Debt Management in Sri Lanka
Public Debt Management in Sri Lanka Performance in 2010 and Strategies for 2011 and beyond Public Debt Department Central Bank of Sri Lanka ISBN-978-955-575-195-7 ii Printed at the Central Bank of Sri
More informationInternational Agencies Contribution to Debt Statistics
International Agencies Contribution to Debt Statistics May 22, 2014 Prepared by the TFFS member agencies This document will be updated on a regular basis where necessary to ensure the information provided
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 18-K. For Foreign Governments and Political Subdivisions Thereof
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 18-K For Foreign Governments and Political Subdivisions Thereof ANNUAL REPORT Of the Kingdom of Sweden Date of end of last fiscal
More informationChapter 2 Financial markets
Chapter Financial markets Hovedstyret desember,,,,,.a Exchange rates against USD Daily figures,,,,, JPY per USD (left-hand scale),, USD per euro (right-hand scale), jan jul jan jul jan jul, Source: EcoWin
More information