International Debt Statistics


Ajit Kumar AJIT KUMARWISDOM IAS, New Delhi.



The primary database, International Debt Statistics provides a detailed picture of debt stocks and flows of low and middle income countries. In addition Quarterly External Debt and Quarterly Public Sector Debt databases provide the debt stock of high income countries collected by the World Bank.
The principal sources of information for the data are reports to the World Bank through the World Bank’s Debtor Reporting System (DRS) from member countries that have received either International Bank for Reconstruction and Development (IBRD) loans or International Development Association (IDA) credits. The DRS has its origin in the World Bank’s need to monitor and assess the financial position of its borrowers.

Since 1951, borrowers have been required to provide statistics on their public external debt and private sector debt that benefit from a public guarantee. In its design, consistency, and continuity of coverage, the DRS is a unique resource.

Reporting countries submit detailed reports on the annual status, transactions, and terms of the long-term external debt of public agencies and that of private ones guaranteed by a public agency in the debtor country. The DRS maintains these records on a loan-by-loan basis. In 1973, coverage of the DRS was expanded to include private sector nonguaranteed borrowing, but for this category of debt, data are provided by borrowers in aggregate rather than loan by loan.

Data submitted to the DRS are processed in the World Bank External Debt (WBXD) system, along with additional information received from the files of the African Development Bank, the Asian Development Bank, the Inter-American Development Bank (IDB), the International Monetary Fund (IMF), institutions of the World Bank Group (IBRD and IDA), and the European Bank for Reconstruction and Development (EBRD). The WBXD is an internal system of the World Bank. Among its outputs is the International Debt Statistics (IDS) database, from which the tables in this publication and online database are produced.

Data on exports and imports (on a balance of payments basis), international reserves, current account balances, foreign direct investment (FDI), portfolio equity flows, and primary income of FDI are drawn mainly from the files of the IMF, supplemented by United Nations Conference on Trade and Development (UNCTAD) reports and country data. Balance of payments data are presented according to the sixth edition of the IMF’s Balance of Payments Manual (BPM6).

Short-term external debt data are as reported by debtor countries or are estimates based on the Bank for International Settlements (BIS) quarterly series of commercial banks’ claims on developing countries. For some countries, estimates were prepared by pooling creditor and debtor information. Data on the gross national income of most developing countries are collected from national statistical organizations or central banks by visiting and resident World Bank missions.
 



Tuesday, 27th Jun 2017, 12:05:58 PM

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