Papua New Guinea - External debt stocks (% of GNI)

External debt stocks (% of GNI) in Papua New Guinea was 73.66 as of 2020. Its highest value over the past 50 years was 110.58 in 2013, while its lowest value was 13.03 in 2008.

Definition: Total external debt stocks to gross national income. Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.

Source: World Bank, International Debt Statistics.

See also:

Year Value
1970 33.36
1971 59.65
1972 60.71
1973 43.19
1974 37.17
1975 39.40
1976 35.65
1977 42.05
1978 30.37
1979 27.17
1980 28.92
1981 49.13
1982 72.36
1983 77.18
1984 82.11
1985 90.47
1986 77.09
1987 75.86
1988 64.00
1989 67.87
1990 83.77
1991 75.72
1992 95.22
1993 71.98
1994 54.78
1995 57.34
1996 53.41
1997 56.14
1998 76.97
1999 83.25
2000 70.40
2001 72.31
2002 66.94
2003 59.54
2004 49.73
2005 41.32
2006 23.30
2007 17.35
2008 13.03
2009 16.43
2010 45.42
2011 77.33
2012 73.88
2013 110.58
2014 89.56
2015 95.59
2016 93.76
2017 77.26
2018 75.44
2019 79.07
2020 73.66

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

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

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: External debt