Debt service current revenue

Source World Bank, World Debt Tables 1996 (Washington, D.C., World Bank, 1996).

Cash in current bank accounts

Commercial bank debt is renegotiated within the London Club, while the International Development Association (IDA) Debt Reduction Facility provides funding for the buy back of commercial bank debt of low income countries.

World Bank, Debt Tables, 1994 1995 (Washington, D.C., 1996).

The current debt relief measures have been far from effective.

In the area of debt management, the Bank supports the Debt Management and Financial Analysis System (DMFAS) through a joint programme.

The current debt burden adjustment should be retained, as should the current formula for the low per capita income adjustment.

15 That amount of short term debt is the current estimate as reported by the press it differs notably with the estimate of 36.8 billion shown by J. P. Morgan Bank (see table 2).

Others looked to a sharp break from current approaches to negotiated debt restructurings.

20. Reduction of commercial bank debt has also been gradually introduced within the London Club in the treatment of the 1980s sovereign debt crisis.

2. The report analyses recent trends in developing countries external debt, as well as the current approaches to the debt problems of developing countries, and draws some international policy conclusions with a view to making constructive proposals for improvement in the current debt workout strategies.

The report analyses recent trends in the external debt of developing countries, as well as current approaches to the debt problems of developing countries, and draws some international policy conclusions with a view to making constructive proposals for improvement in current debt workout strategies.

Turkey welcomed the joint World Bank International Monetary Fund Heavily Indebted Poor Countries Debt Initiative.

Those data are not necessarily comparable with World Bank data, especially concerning short term debt.

Such a debt conversion program would offer five benefits. For starters, unlike the ECB s current quantitative easing, it would involve no debt monetization.

Clearly, current debt relief initiatives enable our countries to use precious resources for financing development, but they do not ensure our debt sustainability.

There was a marginal decline in the external debt owed to two multilateral institutions, the Caribbean Development Bank and the European Investment Bank.9

But, by lowering long term interest rates, central bank purchases of government debt can help contain government debt service. In this way, QE can keep solvent a government that otherwise would be insolvent a nightmare scenario for a central bank.

Thanks the Islamic Development Bank for its contribution to the Debt Relief in favour of Member States.

Fifteen middle income countries have reduced by 20 per cent their commercial bank debt of 213 billion.

73. His delegation welcomed the initiatives taken by the World Bank and IMF to address the external debt problem, in particular their Heavily Indebted Poor Countries Debt Initiative.

In 1996, the IMF and the World Bank launched a debt initiative for heavily indebted poor countries with the objective of bringing their debt burdens to sustainable levels.

Debt relief and debt sustainability also needed to be addressed adequately as soon as possible in order to help achieve the Goals and Viet Nam welcomed the decision of the Group of 8 to cancel the outstanding debt to the World Bank, the IMF and the African Development Bank of 18 low income countries.

Meanwhile, governments were running large deficits a legacy of the economic downturn which renewed growth was supposed to shrink. In the eurozone, countries like Greece faced sovereign debt crises as bank bailouts turned private debt into public debt.

This is the debt relief promised, a promise we must keep at the World Bank and IMF annual meetings.

One Member State asked if a bank could recover the debt of a listed individual from a frozen account.

It also met with a representative of the World Bank to discuss issues related to data on external debt.

Moreover, a debt reduction in the form of further interest rate reductions and maturity extensions on foreign government held debt would not hurt financial markets. But debt held by the European Central Bank and the IMF could pose a problem.

The debt burden adjustment had formed part of the methodology for preparing both the current and previous scales.

The debt problem was also related to the current international economic climate and the changing global economic system.

Almost 80 per cent of Africa's debt is owed to official institutions, about one third of which is multilateral debt owed mainly to the International Monetary Fund (IMF) and World Bank.

11 The present section draws on World Bank Global Development Finance, 1998, appendix 3, Commercial debt restructuring , pp. 83 102.

Whatever approach is chosen for fuller debt relief, it has to be in addition to current assistance to LDCs.

The Central Bank of Uruguay deducted the amount of the sale from Cuba's debt to Uruguay, while the Central Bank of Cuba did not recognize the transaction, deeming it to be a donation, so that in its view, and in its books, the debt to Uruguay remained the same.

WORLD BANK The Government of Cuba withdrew from membership of the World Bank in 1960 and has not until the present time rejoined the Bank. As such, there are no current programmes of the World Bank of any direct relevance to resolution 51 17 .

Such initiatives should include efforts by IMF and the World Bank to develop a debt sustainability framework for low income countries.

24. Under the current mechanism it required from three to six years for a country to reschedule its debt servicing.

The International Monetary Fund and the World Bank have been working towards a revised, more forward looking approach to debt sustainability see Operational Framework for Debt Sustainability Assessments in Low Income Countries , paper prepared by the staffs of the International Monetary Fund and the World Bank, Washington, D.C., 28 March 2005.

114. On the question of debt, the World Bank, IMF and other donors had agreed on a programme to combat that problem.

Anguilla s external public debt totalled US 8.5 million in 1995 (of which 72 per cent was owed to the Caribbean Development Bank).

Where realistic debt restructuring scenarios indicate capital shortfalls, across the board conversion of bank debt into equity will be necessary. And where this does not suffice, banks will need immediate capital injections by their governments.

40. In considering this element of the scale, the Committee had before it information obtained from the World Bank on debt stock, principal repayments, the ratio of debt to national income and the ratio of debt service to export earnings for a number of Member States.

In that context he emphasized various aspects of the current initiatives aimed at reducing the debt burden of the poorest countries.

Zambia welcomes the steps taken by the International Monetary Fund and the World Bank to implement the Heavily Indebted Poor Countries Debt Initiative.