世界银行-国际债务统计2019（英文）-2018.11-101页-9mb

Summary of International Debt Statistics 2019

Core Content

International Debt Statistics 2019 is a comprehensive report by the World Bank that provides detailed data on external debt and financial flows for 121 low- and middle-income countries in 2017. It is part of the World Bank's Debtor Reporting System (DRS), which has been in operation since 1951 and was first published in 1973 as World Debt Tables. The report aims to meet user demand for timely and detailed data, and it is complemented by online resources and an expanded dataset accessible via datatopics.worldbank.org/debt/ids.

Main Points

• Net Financial Flows: Net financial flows (debt and equity) to low- and middle-income countries reached $1.1 trillion in 2017, a 61 percent increase from 2016, marking the highest level in three years.
• Debt Composition: The report distinguishes between public and private debt, with public debt being the largest component. Long-term public and publicly guaranteed debt amounted to $2,097.1 billion in 2017, while private nonguaranteed debt was negligible.
• Debt Inflows: Net debt inflows increased by more than three times in 2017, reaching $607 billion. This was primarily driven by a record $355 billion in new bond issuance and a decline in principal repayments.
• Short-Term Debt: Short-term debt inflows rose to $297 billion in 2017, reversing previous outflows in 2015 and 2016.
• Equity Flows: Equity inflows remained stable at $511 billion, with foreign direct investment (FDI) decreasing by 3 percent to $454 billion. Portfolio equity flows increased by 29 percent to $57 billion, mainly to China, Mexico, and South Africa.
• Debt Ratios: The average debt-to-GNI ratio for low- and middle-income countries was 25 percent, and the average debt-to-export ratio was 102 percent in 2017. However, one third of these countries had a debt-to-GNI ratio above 60 percent, and nearly half had a debt-to-export ratio exceeding 150 percent.
• Creditors: Official creditors, including multilateral and bilateral institutions, accounted for a significant portion of the debt. In 2017, multilateral creditors (like the World Bank's IBRD and IDA) and bilateral creditors contributed almost equally to debt inflows.
• Debt Sustainability: Despite concerns about debt sustainability, public sector entities in the world's poorest countries borrowed heavily in 2017, with new commitments reaching $43 billion. A large portion of this came from private creditors through bond issuance and syndicated loans.

Key Information

• Data Sources: Data are collected from national statistical organizations and the International Monetary Fund (IMF), and are subject to potential errors.
• Data Availability: The general cutoff date for data reporting was end-August 2018. Some data may be preliminary and subject to revision.
• User Guide: The report includes a user guide for accessing online tables and a guide to the DataBank, which allows users to create custom reports and visualizations.
• Online Access: Users can access the online version of the report at datatopics.worldbank.org/debt/ids, and download PDFs or use the DataBank to generate reports.
• Symbols and Definitions:
  • 0 or 0.0 means the value is zero or too small to be significant.
  • .. indicates missing data.
  • $ denotes current U.S. dollars unless otherwise specified.

Data Tables

• Aggregate Tables: Present 54 indicators across 121 countries and six regional groups.
• Indicators: Include external debt stocks, flows, debt ratios, and macroeconomic variables such as GNI and exports.
• Debt Stock-Flow Reconciliation: Provides details on the reconciliation of debt stocks and flows, including rescheduling, forgiveness, and buybacks.

Country Classification

• Countries are classified based on their gross national income (GNI) per capita using the World Bank Atlas method.
• Classification may change over time as GNI per capita fluctuates.
• The "All low- and middle-income countries" category represents the sum of data for all 121 countries.

Conclusion

International Debt Statistics 2019 provides a detailed overview of external debt and financial flows for low- and middle-income countries in 2017. It highlights the significant increase in net debt inflows, the role of non-traditional lenders, and the stability of equity flows. The report also emphasizes the importance of monitoring debt ratios and the need for careful economic evaluation when interpreting the data. The online resources and DataBank offer users the ability to access, analyze, and visualize the data in various formats.