international debt

(redirected from Foreign debt)
Also found in: Financial.

international debt

  1. the ‘amount of money which the government of a country, or its private institutions, owes to other countries, external banks or international agencies.
  2. the total amount of such debt in the world. This has become a major problem since the late 1970s for many THIRD WORLD countries, and some others, such as Poland, which have borrowed heavily on the international markets for more than a decade. Many countries have found difficulty in paying the interest on the debt. This means that the total amount of debt is not decreasing. In the late 1980s, this was seen as a major problem for prospective world trade and for economic growth in the Third World. In 1988, one of the most indebted countries, Brazil, owed $120 billion to external institutions and this had not declined by the mid-1990s. During the 1980s and 1990s many countries in Latin America and Africa adopted policies of structural adjustment involving balanced internal budgets and an increased focus on exports: these were often required by the International Monetary Fund. See also DEPENDENCY THEORY, DEPENDENT INDUSTRIALIZATION, UNEQUAL EXCHANGE.
References in periodicals archive ?
ISLAMABAD -- Economic Affairs Minister Hammad Azhar on Thursday informed the National Assembly that the government would return over $10 billion foreign debt during the current fiscal year (FY20).
ISLAMABAD -- Minister for Economic Affairs Hammad Azhar on Thursday informed the National Assembly that the government would return over $10 billion foreign debt during the current fiscal year.
ISLAMABAD -- Minister for Economic Affairs HammadAzhar on Thursday informed the National Assembly that the government would return over $10 billion foreign debt during the current fiscal year.
Replying to various supplementary questions, the minister said the incumbent government returned $8.39 billion foreign debt from August 18, 2018, to June 30, 2019, adding that the government had obtained $7.1 billion foreign in loans during the said period.
In the external situation report of the Egyptian economy, the CBE pointed out that the foreign debt reached 35.1% of GDP at the end of December 2018, while the average foreign debt in the European emerging markets (EMs) stands at 61.4% of GDP, and 41.9% in the Commonwealth member countries.
On the other hand, external debt declined 3.2 percent month-on-month to P2.574 trillion 'due to the net repayment of foreign loans amounting to P39.65 billion and the stronger peso which reduced the value of foreign debt by P50.36 billion' despite an increase of P4.66 billion due to third-currency appreciation, according to the Treasury.
As of April 1, 2019, a foreign debt of Kazakhstan amounted to $157.6 billion or 90.7% of the GDP, te press service of the National Bank reported.
The commission will investigate why foreign debt had increased by Rs2,400 billion between 2008 and 2018 during which, according to the prime minister's aides, no mega project was completed.
The foreign debt interest totaled 18.7 million euros and the internal debt interest amounted to 7.3 million euros, Sloboden pecat reports citing the latest statistics of the Ministry of Finance.
DOF insists Philippines never defaulted on foreign debt in 1983 !-- -- Alexis Romero (philstar.com) - April 3, 2019 - 7:50pm MANILA, Philippines The Philippines did not default on its foreign debt in 1983 because its lenders agreed to extend the repayment period, the Department of Finance said Wednesday.
The interesting thing about all that received foreign debt is that it was hugely misused and wasted on less important areas than using the same for ameliorating the fate of the common citizens by educating them and by providing satisfactory health facilities.

Full browser ?