External debt of an economy represents actual current liabilities between residents and non-residents, based on debt instruments, at a certain date. The statistical research of the external debt includes standard reports for Gross External Debt and Gross External Claims.
The most used external debt indicator is the gross external debt, which at any given time is the outstanding amount of current and not contingent liabilities that require payment(s) of principal and /or interest by the debtor at some point(s) in the future and that are owed to nonresidents by residents of an economy.
External debt statistics also include indicators for net external debt i.e. the difference between the stock of gross external debt and gross external claims. In its structure, net external debt is identical with the gross external debt and claims, where the standard presentation contains classification by institutional sectors, maturity and debt instruments.
At the end of the third quarter of 2019, the gross external debt total Euro 8,575 million (77.1% of GDP) and registered a quarterly increased by Euro 241 million while gross external claims increased by Euro 230 million, and amounted Euro 5,907 million (53.1% of GDP). Given the larger quarterly increase in gross external debt compared to the gross external claims, the net external debt increased by Euro 11 million. Thus, at the end of the third quarter of 2019, the net external debt amounted to Euro 2,668 million i.e. 24% of GDP. Тhe increase in the net external debt in the third quarter reflects the higher private net debt (for Euro 198 million), in conditions of quarterly decrease in the public net debt (for Euro 187 million). Read more...
Archive on External Debt
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