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 second quarter of 2020, the gross external debt amounted to Euro 8,782 million (80.3% of GDP) which is a quarterly increase of Euro 472 million, while gross external claims increased by Euro 433 million to Euro 5,829 million (53.3% of GDP). The larger quarterly increase in liabilities against claims led to a growth of the net external debt by Euro 39 million, and at the end of June 2020 it equaled to Euro 2,953 million (27% of GDP). Thus the increase in the net external debt in the second quarter reflects the higher public net debt of Euro 184 million, amid decrease in the private net debt of Euro 146 million. Read more...
Archive on External Debt
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