Short-term debt (% of total reserves) - Country Ranking

Definition: Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Total reserves includes gold.

Source: World Bank, International Debt Statistics.

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 Sudan 2,924.16 2015
2 Panama 1,125.55 2016
3 Somalia 847.84 1989
4 Zimbabwe 733.12 2016
5 Venezuela 283.99 2016
6 Belarus 216.44 2016
7 Mongolia 197.77 2016
8 Ukraine 129.67 2016
9 Tajikistan 126.56 2016
10 Sri Lanka 123.43 2016
11 Argentina 123.24 2016
12 Tunisia 109.07 2016
13 Chad 92.79 2016
14 Mauritius 92.76 2016
15 Turkey 92.50 2016
16 Malaysia 87.03 2016
17 Georgia 85.55 2016
18 Lao PDR 80.76 2016
19 Moldova 79.37 2016
20 El Salvador 79.18 2016
21 Paraguay 68.25 2016
22 Jordan 67.13 2016
23 South Africa 63.14 2016
24 Iran 62.06 1982
25 Albania 60.88 2016
26 Nicaragua 57.48 2016
27 Egypt 50.52 2016
28 Uzbekistan 50.41 1999
29 Tanzania 49.73 2015
30 Armenia 48.62 2016
31 Jamaica 48.34 2016
32 Ghana 47.64 2016
33 Dominican Republic 45.22 2016
34 Zambia 42.98 2016
35 Guyana 41.03 2016
36 Macedonia 40.39 2016
37 Vietnam 38.35 2016
38 Indonesia 36.14 2016
39 Papua New Guinea 35.27 2016
40 Morocco 35.19 2016
41 Central African Republic 34.82 2016
42 Mozambique 34.76 2016
43 Bulgaria 34.20 2016
44 Costa Rica 33.79 2016
45 Gabon 33.58 2016
46 Dem. Rep. Congo 32.82 2016
47 Pakistan 32.74 2016
48 Romania 32.22 2016
49 Thailand 30.73 2016
50 Ethiopia 30.64 2016
51 Mexico 30.33 2016
52 Kenya 29.28 2016
53 St. Lucia 28.68 2016
54 Congo 28.34 2016
55 China 25.87 2016
56 Colombia 25.00 2016
57 Bangladesh 24.27 2016
58 Guinea 23.75 2016
59 Kazakhstan 23.56 2016
60 India 23.17 2016
61 Grenada 22.96 2016
62 Ecuador 22.34 2016
63 Azerbaijan 22.24 2016
64 Mauritania 22.04 2016
65 The Gambia 20.99 2016
66 Turkmenistan 20.56 1999
67 Rwanda 20.53 2016
68 Montenegro 19.80 2016
69 Cambodia 19.51 2016
70 Uganda 19.06 2015
71 Philippines 18.01 2016
72 Kyrgyz Republic 17.86 2016
73 Madagascar 17.30 2016
74 Swaziland 16.52 2016
75 Eritrea 15.99 2011
76 Brazil 15.67 2016
77 Myanmar 15.59 2016
78 Sierra Leone 15.21 2016
79 São Tomé and Principe 14.91 2016
80 Bosnia and Herzegovina 13.37 2016
81 Djibouti 12.93 2016
82 Peru 12.56 2016
83 Cameroon 12.48 2016
84 Russia 11.96 2016
85 Vanuatu 11.60 2016
86 Honduras 11.46 2016
87 Fiji 10.84 2016
88 Serbia 10.53 2016
89 Guatemala 9.90 2016
90 Lebanon 7.01 2016
91 Solomon Islands 6.76 2016
92 Botswana 5.13 2016
93 Bolivia 4.72 2016
94 Nepal 4.29 2016
95 Dominica 3.95 2016
96 Malawi 3.85 2015
97 Yemen 3.39 2013
98 Afghanistan 2.82 2016
99 Syrian Arab Republic 2.73 2010
100 St. Vincent and the Grenadines 2.13 2016
101 Algeria 1.64 2016
102 Belize 1.60 2016
103 Comoros 0.96 2016
104 Angola 0.65 2016
105 Cabo Verde 0.26 2016
106 Burundi 0.25 2016
107 Tonga 0.23 2016
108 Bhutan 0.09 2016
109 Haiti 0.04 2016
110 Lesotho 0.01 2016
111 Nigeria 0.00 2016
112 Samoa 0.00 2016
112 Liberia 0.00 2016

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Development Relevance: External debt is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions. External indebtedness affects a country's creditworthiness and investor perceptions. Nonreporting countries might have outstanding debt with the World Bank, other international financial institutions, or private creditors. Total debt service is contrasted with countries' ability to obtain foreign exchange through exports of goods, services, primary income, and workers' remittances. Debt ratios are used to assess the sustainability of a country's debt service obligations, but no absolute rules determine what values are too high. Empirical analysis of developing countries' experience and debt service performance shows that debt service difficulties become increasingly likely when the present value of debt reaches 200 percent of exports. Still, what constitutes a sustainable debt burden varies by country. Countries with fast-growing economies and exports are likely to be able to sustain higher debt levels. Various indicators determine a sustainable level of external debt, including: a) debt to GDP ratio b) foreign debt to exports ratio c) government debt to current fiscal revenue ratio d) share of foreign debt e) short-term debt f) concessional debt in the total debt stock

Limitations and Exceptions: The DRS encourages debtor countries to voluntarily provide information on their short-term external obligations. By its nature, short-term external debt is difficult to monitor: loan-by-loan registration is normally impractical, and monitoring systems typically rely on information requested periodically by the central bank from the banking sector. The World Bank regards the debtor country as the authoritative source of information on its short-term debt. Where such information is not available from the debtor country, data are derived from BIS data on international bank lending based on time remaining to original maturity. The data are reported based on residual maturity, but an estimate of short-term external liabilities by original maturity can be derived by deducting from claims due in one year those that have a maturity of between one and two years. However, BIS data include liabilities reported only by banks within the BIS reporting area. The results should thus be interpreted with caution. Because short-term debt poses an immediate burden and is particularly important for monitoring vulnerability, it is compared with total debt and foreign exchange reserves, which are instrumental in providing coverage for such obligations. A country's external debt burden, both debt outstanding and debt service, affects its creditworthiness and vulnerability. While data related to public and publicly guaranteed debt are reported to the DRS on a loan-by-loan basis, aggregate data on long-term private nonguaranteed debt are reported annually and are reported by the country or estimated by World Bank staff for countries where this type of external debt is known to be significant. Estimates are based on national data from the World Bank's Quarterly External Debt Statistics.

Statistical Concept and Methodology: Data on external debt are gathered through the World Bank's Debtor Reporting System (DRS). Long term debt data are compiled using the countries report on public and publicly guaranteed borrowing on a loan-by-loan basis and private non guaranteed borrowing on an aggregate basis. These data are supplemented by information from major multilateral banks and official lending agencies in major creditor countries. Short-term debt data are gathered from the Quarterly External Debt Statistics (QEDS) database, jointly developed by the World Bank and the IMF and from creditors through the reporting systems of the Bank for International Settlements. Debt data are reported in the currency of repayment and compiled and published in U.S. dollars. End-of-period exchange rates are used for the compilation of stock figures (amount of debt outstanding), and projected debt service and annual average exchange rates are used for the flows. Exchange rates are taken from the IMF's International Financial Statistics. Debt repayable in multiple currencies, goods, or services and debt with a provision for maintenance of the value of the currency of repayment are shown at book value.

Aggregation method: Weighted average

Periodicity: Annual