- International Monetary Fund
- Published Date:
- March 1998
©1998 International Monetary Fund
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- I. Introduction and Summary
- Official Flows in Context
- Role of Strong Performance in Attracting Capital Inflows
- Reliance of Low-Income Countries on Official Capital Flows
- Greater Targeting of Aid Flows
- Increasingly Concessional Debt Relief for Low-Income Countries
- Debt Relief Culminated in Initiative for Heavily Indebted Poor Countries
- II. New Official Financing Flows to Developing Countries
- III. Recent Developments in Export Credits
- IV. Financing from Multilateral Institutions
- V. Debt Restructuring by Official Bilateral Creditors
- I. Initiative for Heavily Indebted Poor Countries
- II. Glossary of Terms
- III. Statistical Tables
- 4. Developing Countries: Gross and Net Disbursements on Public External Debt by Analytical Group and Creditor
- 5. Developing Countries: Gross and Net Disbursements from Multilateral Institutions by Analytical Group and Concessionality
- 6. Developing Countries: Gross and Net Disbursements from Multilateral Institutions by Region
- 7. Developing Countries: Multilateral Debt Service
- 8. Developing Countries: Multilateral Net Transfers
- 9. Developing Countries: Medium- and Long-Term Public External Debt by Creditor
- 10. Developing Countries: Multilateral Debt on Concessional Terms
- 11. Developing Countries: Multilateral Debt by Institution
- 12. Composition and Average Terms of Multilateral Debt by Major Institutions
- 13. Paris Club Reschedulings of Official Bilateral Debt, 1995-September 1997
- 14. Status of Paris Club Rescheduling Countries as of September 30, 1997
- 15. Evolution of Paris Club Rescheduling Terms
- 16. Debt-Restructuring Agreements with Official Bilateral Creditors Not Participating in the Paris Club, Mid-1995-Mid-1997
- A1. DAC List of Aid Recipients for Resource Flows in 1996
- A2. Gross Disbursements of Official Bilateral Financing Flows from DAC Countries by Region and Income Group
- A3. Heavily Indebted Poor Countries: Net Disbursements from Multilateral Institutions
- A4. Developing Countries: Gross and Net Disbursements on Public External Debt by Region and Creditor
- A5. Heavily Indebted Poor Countries: Structure of Multilateral Debt
- A6. Paris Club Reschedulings of Official Bilateral Debt: Amounts Consolidated in Successive Reschedulings, 1976-September 1997
- A7. Middle-Income Rescheduling Countries: Amounts Due and Consolidated Under Flow Reschedulings, August 1995-September 1997
- A8. Low-Income Rescheduling Countries: Amounts Due and Consolidated Under Flow Reschedulings, August 1995-September 1997
- A9. Amounts Restructured Under Stock-of-Debt Operations for Low-Income Countries, 1995-September 1997
- A10. Overview of Reschedulings of Official Bilateral Debt, 1976-September 1997
- 5. Export Credit Exposure
- 6. Twenty Main Recipients of Export Credits Among Developing Countries and Countries in Transition, 1992 and 1996
- 7. Officially Supported Export Credits: New Commitments
- 8. New Export Credit Commitments in Selected Major Markets, 1993-96
- 9. Main Recipients of Export Credits Among Developing Countries and Countries in Transition, 1996
- 10. Export Credit Agencies: Premium Income, Recoveries, Claims, and Net Cash Flow
The following symbols have been used throughout this volume:
- … to indicate that data are not available:
- — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
- – between years or months (for example, 1995–96 or January–June) to indicate the years or months covered, including the beginning and ending years or months;
- / between years (for example, 1995/96) to indicate a fiscal or financial year.
“Billion” means a thousand million; “trillion” means a thousand billion.
“Basis points” refer to hundredths of 1 percentage point (For example, 25 basis points are equivalent to ¼ of 1 percentage point).
“n.a.” means not applicable.
Minor discrepancies between constituent Figures and totals are due to rounding.
As used in this volume the term “country” does not in all eases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.
This paper was prepared in the Official Financing Operations Division of the Policy Development and Review (PDR) Department of the International Monetary Fund, under the direction of Anthony R. Boote and Doris C. Ross. Its authors are Mariano Cortes, Christina Daseking. Vitali Kramarenko, Toshiro Nishizawa, Saqib Rizavi, and Kevin Ross. The paper provides information on official financing and the debt situation of developing countries, with a particular focus on the heavily indebted poor countries. It updates Official Financing for Developing Countries (Boote and others, 1995), and Section III provides a more limited update of Officially Supported Export Credits: Recent Developments and Prospects (Kuhn, Horvath, and Jarvis, 1995).
The work benefited from comments by staff in PDR and other departments of the IMF. Opinions expressed, however, are those of the authors and do not necessarily represent the views of the IMF or its Executive Directors. The paper reflects information available through September 1997.
The authors are grateful to Barbara Dabrowska for research and to Bogna Jezierska, Sulochana Kamaidinni, and Seetha Milton for secretarial assistance. Elisa Diehl of the External Relations Department edited the manuscript and coordinated production.