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 2020, the gross external debt amounted to Euro 8,630 million (80.2% of GDP) and registered a quarterly decrease of Euro 463 million, while gross external claims decreased by Euro 711 million to Euro 5,239 million (48.7% of GDP). The larger quarterly decrease in claims relative to the reduction in liabilities increased the net external debt by Euro 248 million, and at the end of December 2020 it amounted to Euro 3,391 million (31.5% of GDP). Thus the increase in the net external debt in the fourth quarter reflects the higher private net debt by Euro 262 million, given the decline in the public net debt by Euro 14 million. Read more...
Archive on External Debt
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