It is estimated that the debt export ratio in net present value terms is high (187 per cent), suggesting that Haiti's debt is unsustainable.

Debt service ratio

Region Debt export ratio

It is calculated to receive debt relief equivalent to about 345 million (in net present value terms) which is projected to reduce its debt to export ratio to 202 per cent.

Although Mexico s traditional debt indicators appeared sustainable, with moderate ratios of debt service, debt stock to exports and interest payments to exports (a ratio similar to the debt service ratio), the ratio of short term debt to reserves amounted to 131 per cent in 1997 (the ratio was much higher in 1996).

36. Africa s external debt burden is the highest among developing countries in terms of the ratio of external debt to GDP and its debt service ratio.

In particular, they should have paid greater attention to the sustainability of US mortgage and consumer debt. In 2007, the mortgage and consumer debt to GDP ratio was more than 90 , compared to 24 for net foreign debt.

The debt indicators show what would be expected to be a sustainable debt position.1 The debt service ratio measured 13 per cent, the debt stock to exports ratio 114 per cent, the debt stock to GNP ratio 31 per cent, and short term debt to foreign exchange reserves ratio 53 per cent as noted, however, those figures obscure diverse trends at the country level.

The net domestic public debt to GDP ratio stood at a high 63 per cent at the end of 1996 (52 per cent at the end of 1995).

1 It is generally recognized that a ratio of debt to exports exceeding 200 per cent and a ratio of debt service to exports exceeding 20 per cent would signal serious debt problems.

This sharp devaluation increased further the cost of debt servicing and the debt to GDP ratio.

Net total debt increased to 11.4 billion.

c UNESCO Institute for Statistics, Education Sector, Excel File Primary_Secondary_WGE_9802, Worksheets Gross Enrolment Ratio (GER), April 2005 and Net Enrolment Ratio (NER), April 2005 .

α Source UNESCO Institute for Statistics, Education Sector, Excel File Primary_Secondary_WGE_9802, Worksheets Gross Enrolment Ratio (GER), avr 05 Net Enrolment Ratio (NER), avr 05

Debt cancellation did not necessarily lead to net flows.

However, because of improved economic performance in the debtor countries, the overall ratio of debt to exports and the ratio of external debt to gross domestic product had declined to their lowest levels since the onset of the debt crisis.

Uganda is estimated to receive 1.95 billion in nominal debt service relief.12 However, the net present value of its debt to exports ratio was estimated to reach 258 per cent by the end of 2003, a level significantly above the HIPC sustainable threshold.14

Latin American debt indicators generally indicated a sustainable debt position for the region as a whole, with a debt service ratio of 12 per cent, debt stock to exports and to GNP ratios of 103 per cent and 43 per cent respectively, and a short term debt to reserves ratio of 71 per cent.

A public debt crisis in Japan (as the combination of recession, deflation, and high deficits drove up the debt GDP ratio).

The ratio of short term debt to reserves indicated no short term liquidity difficulty.

Article 24 The Company shall present the ending balance, beginning balance and percentage increase or decrease of the following financial status indicators asset liability ratio, net asset liability ratio and liquidity ratio in tabular form.

The estimated nominal debt service relief committed to Burkina Faso amounts to 930 million.12 By the end of 2003, the net present value of Burkina Faso's debt to exports ratio had risen to 199 per cent, from 150 per cent at the end of 2001.

Three factors had been taken into account debt service to export ratio (in the range of 20 25 per cent), the ratio of the current value of debt to export (200 250 per cent) and vulnerability.

That is an exaggeration. For example, Ichizo Miyamoto, a former senior finance ministry official, claims that, accounting for the government s assets, Japan s net debt GDP ratio is below 100 , similar to that of the United States.

The savings ratio, net savings, were below zero in the middle of 2008, just before the crash.

As a group, those countries debt burden remains severe, with a debt stock to export ratio of well over 300 per cent (far above the 200 per cent threshold used to indicate a debt overhang) and a debt stock to GNP ratio of 127 per cent in 1996 after several years of improvement.

Article 75 The Company shall present the ending balance, beginning balance (prior year) and percentage increase or decrease of the following financial status indicators in tabular form asset liability ratio, net asset liability ratio and liquidity ratio.

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.

Target ranges for sustainable debt levels have initially been defined by the Bretton Woods institutions as 200 to 250 per cent for the debt to exports ratio expressed in present value terms, and as 20 to 25 per cent for the debt service to exports ratio.

For Argentina, the ratio of interest payments to exports was 21 per cent and the ratio of external debt to exports 313 per cent in 1997.

External debt rose by 574 million in 1996 to 1,856 million (18 per cent of net total public debt).

The ECLAC region's debt to export ratio is higher than that of any other developing region.

In 2004 the ratio of debt servicing to exports was 10.0 per cent (see figure below).

By 1995, SSA had the highest debt to exports ratio of any developing region (table 2).

Figure 2 shows the breakdown between new (net) transfers and debt forgiveness.

Although the government s stimulus policies have increased the national debt, the debt GDP ratio remains relatively low, at roughly 37 . Public debt in Japan, by contrast, exceeds 220 of GDP.

Even with the latest deal, Greece s debt ratio remains at 120 of last year s GDP. With a projected drop in GDP of 7 this year and a sustained deficit, the debt ratio would exceed 130 before stabilizing at 120 in 2020.

An estimated 2.06 billion in nominal debt service relief has been committed to Bolivia.12 However, Bolivia's external debt at the end of 2003 was higher than it was prior to receiving debt relief in 2001,13 as the net present value of its debt to exports ratio rose by 117 per cent, reaching 176 per cent at the end of 2003, above the HIPC sustainable threshold of 150 per cent.

Third, though China s public debt GDP ratio is officially still under 20 , since the onset of the global financial crisis in 2008, its fiscal position has deteriorated. If the government s contingent liabilities are included, China s debt GDP ratio may be closer to 50 .

The ratio of debt to exports was 83.4 per cent, likewise one of the lowest in the region.

In Brazil, the ratio of interest payments to exports was also 21 per cent, and the debt stock as a percentage of exports was 289 per cent in 1997, while the ratio of short term debt to reserves did not signal immediate liquidity problems.

It narrows government budget deficits by increasing tax revenues and limiting welfare spending. By raising the denominator of the debt GDP ratio, it enhances confidence in debt sustainability.

Thus debt service is a significant item in affecting net resource flows to Africa, and Africa s debt servicing difficulties have long been recognized.

Starting from 1999, the first year of recession, fiscal deficits rose substantially, alongside the public debt to GDP ratio.

The ratio of debt service to exports for these countries has declined to an average of 10 per cent.