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CIA-RDP97R00694R000500100001-4
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RIPPUB
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C
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60
Document Creation Date:
January 12, 2017
Document Release Date:
March 16, 2011
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1
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Publication Date:
July 1, 1985
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REPORT
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1.98 MB
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Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Directorate of Confidential Intelligence LDC External Debt Positions Confidential G185-10190 July 1985 copy 2 5 2 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 4~\, Directorate of Confidential n l Intelligence LDC External Debt Positions Office of Global Issues. Comments and queries are welcome and may be directed to the Chief, Financial Issues Branch, OGI, Confidential 6185-10190 July 1985 25X1 25X1 25X1 25X1 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Summary Information available as of 28 June 1985 was used in this report. iii Confidential GI 85-10190 July 1985 LDC External Debt Positions turn led to a slight rise in the aggregate LDC debt service ratio. The rate of growth of LDC debt slowed for the third consecutive year during 1984, but the magnitude of the debt continued to be a heavy burden on most LDCs. At yearend 1984, aggregate LDC external debt was nearly $815 billion, only 3.7 percent higher than at the end of 1983. The major reasons for the slowdown were lower LDC external financing requirements and the reluctance of commercial banks to lend to financially troubled countries. Meanwhile, total LDC debt service payments rose to about$125 billion in 1984, including as much as $10 billion in principal arrearages. Higher interest payments were a major cause for the increase, which in developing countries. The distribution of LDC debt reveals a continued concentration among a small number of debtors. The 15 largest debtors accounted for nearly 70 percent of total LDC debt at yearend 1984. Except for Egypt and India, these countries depend heavily on private creditors, which hold nearly three-fourths of total LDC debt. US banks are a major source of funds for LDCs, holding about 35 percent of total Western bank claims on will remain high and constrain improvement of their debt situations. We expect LDC debt to continue to grow at a slow pace in 1985, with total LDC debt reaching about$850 billion by yearend. If this occurs, we project debt service payments to be on the order of $125-130 billion in 1985. Lower world interest rates will provide some relief to LDCs, and principal repayments probably will be restructured to a large degree. Given the stagnation of LDC exports, however, the overall LDC debt service ratio further restructurings will be necessary over the next several years. Over the longer term, LDCs will face a heavy debt repayment burden for the rest of the 1980s. Most countries have been able to keep their interest payments current, but large amounts of principal repayments have been restructured and pushed back into the second half of this decade. An examination of future repayment schedules for 10 major debtors indicates that principal repayments will continue to be a major burden and that Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Summary Scope Note LDC Debt Developments in 1984 Volume of Debt Debt Service Payments Major Creditors Distribution of Debt Outlook for 1985 7 B. Interest Cost and Currency Composition of LDC Debt 9 C. Debt Service Projections for 10 Major Debtors 11 13 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Scope Note This research paper is part of an ongoing effort to monitor and assess the status and implications of the international debt situation. This is the latest 25X1 in a series of annual reports that provide a comprehensive compilation of LDC debt by piecing together data from a number of basic sources. Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential LDC External Debt Positions Volume of Debt Aggregate LDC external debt continued to rise in 1984, but the rate of growth declined for the third consecutive year (figure 1). We estimate that total LDC debt' grew by only 3.7 percent last year to$815 billion, compared with rises of 8 percent in 1983, 13 percent in 1982, and 21 percent in 1981. A minimal increase in the debt of the OPEC LDCs helped hold down growth of overall external debt in 1984. Their debt--$166 billion at the end of last year rose by less than 1 percent, following a 9-percent rise in 1983. The non-OPEC LDCs saw their debt increase by 5 percent last year, in contrast to 8 percent in 1983. We believe the major reason behind the slowdown in overall LDC debt growth continued to be the reluc- tance of creditors-primarily commercial banks--to increase their lending in the wake of ongoing LDC economic and financial problems and lower financing requirements by LDCs that had undertaken stiff austerity measures. Although both of these causes are highly interrelated, numerous financial sources indi- cate that, in most cases, new bank lending to finan- cially troubled LDCs was done involuntarily in con- junction with IMF-supported adjustment programs and restructuring agreements. Overall, most new bank lending was directed to Asian countries, which have been able to avoid major debt problems and remain attractive to creditors. Debt Service Payments Debt service payments by LDCs rose 13 percent in 1984 to$126 billion, because of higher scheduled principal repayments and higher world interest rates (figure 2).' We estimate that close to 60 percent of ' These data constitute yearend disbursed debt of all maturities, exclusive of IMF credits and military debt, for 110 LDCs. For additional methodological details, a discussion of the sources for the data used, and a list of the LDCs in our data base, see appendix A. Figure I Aggregate LDC External Debt, 1979-84 0illinn is s 900 Nlediuii/IonLs- ld m private total LDC debt is on floating interest rates. This total includes roughly $58 billion in principal and$68 billion in interest charges, according to our estimates. Also in this total are as much as $10 billion in arrearages, which, if excluded, bring debt service payments down to about$115 billion. This amount, however, is still higher than for 1983. The aggregate LDC debt service ratio' inched up from 21 percent in 1983 to 22 percent last year because debt service payments rose faster than LDC exports of goods and services. In contrast, the interest portion of total LDC debt service showed a slight ' Throughout this paper, the debt service ratio is defined as total debt service (medium- and long-term principal plus interest on debt of all maturities) as a share of exports of goods and services= 25X1 25X1 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Figure 2 Major World Interest Rates. 1983-85 US banks remain major holders of LDC debt (table I ). According to Bank for International Settlements (BIS) data, US bank claims on LDCs totaled about $130 billion at the end of June 1984, representing 35 percent of total bank claims on LDCs. Latin America accounted for about$85 billion in US bank claims, followed by Fast Asia with about $30 billion. The largest individual debtors to US banks at the end of June 1984 were Mexico, Brazil, Venezuela. and South Korea. With the exception of British and West German banks. debt data for non-US bank creditors are largely unavailable. UK bank claims on LDCs totaled about 552 billion in mid-1984, or about 14 percent of total BIS-reported bank claims on LDCs. Latin American debtors owed more than$29 billion, with Brazil. Mexico, and Argentina the three largest debt- ors to UK banks. decline for the second consecutive year from 56 percent in 1983 to 54 percent in 1984. Interest payments last year, however, remained equivalent to 12 percent of goods and services, unchanged from 1983. This ratio is important because interest pay- ments are considered essential for LDCs to maintain minimum credit standing with banks, whereas princi- pal repayments can be rolled over or delayed. Al- though principal as a share of exports of goods and services increased in 1984 relative to 1983, if arrear- ages are excluded the ratio was about the same in those two years. Major Creditors Private creditors mainly commercial banks-contin- ue to be the most important source of funds for LDCs. For the fourth straight year, private creditors ac- counted for nearly two-thirds of total LDC medium- and long-term debt. If short-term debt is included, private creditors held almost three-fourths of total L DC debt in 1984. Complete data on consolidated West German bank claims became available recently: heretofore, only partial data had been available. Yearend 1984 is the only time period for which data are available. Overall, West German banks are less exposed to LDCs than US or UK banks, with Brazil ($4.8 billion), Mexico (53.5 billion), Argentina ($2.4 billion), Venezuela ($1.9 billion), Indonesia ($1.9 billion), and Nigeria ($1.5 billion) the largest individual debtors to West German banks at yearend 1984. Overall, West German banks account for about 9 percent of total Western bank claims. Distribution of Debt LDC external debt remains concentrated in a small number of countries. The 15 largest debtors account- ed for nearly 70 percent of total LDC debt in 1984 (table 2). In addition, nearly half of LDC debt is held by the top seven debtors. With the exception of Egypt and India, all of the countries depended heavily on private sources of financing. From a regional stand- point, distribution of debt remained heavily weighted toward Latin America in 1984, which holds 47 per- cent of total LDC debt, more than double any other group (figure 3). The region consisting of North Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table 1 Selected LDCs: Debt Held By US and UK Banks, June 1984 US Banks UK Banks BIS Total US Banks UK Banks BIS Total Algeria 1,036 720 7,175 Malawi 83 60 181 Argentina 8,360 3,441 25.766 Malaysia 1,742 1,904 9.631 Bolivia 278 129 771 Mexico 26,645 8,736 70,272 Brazil 23,089 8,974 64,460 Morocco 912 372 3,939 Cameroon 214 66 1,007 Nicaragua 272 110 623 Chile 6,607 1,926 13,015 Nigeria 1,692 2,534 9,321 Colombia 3,180 827 6,658 Pakistan 222 195 966 Costa Rica 485 184 1,284 Paraguay 248 68 543 Dominican Republic 608 tin 1,155 Peru 2,437 704 5.036 Ecuador 2,106 736 4,788 Philippines 5,648 1,649 12,550 Egypt 1,436 925 6,059 Qatar 22 85 391 El Salvador 123 NA, 245 Saudi Arabia 1.878 1,057 5,866 Gabon 104 81 628 Senegal 69 24 389 Ghana 12 72 167 South Korea 10,994 2,905 25,491 Guatemala 154 58 344 Sudan 145 132 843 Honduras 179 119 435 Svria 30 115 527 India '71 449 2,804 Taiwan 3.035 544 5,403 Indonesia 3,623 1,663 12,540 Thailand 2,160 500 6,192 Iran 24 66 1,634 Trinidad and Tobago 159 161 846 Iraq 504 156 1,988 Tunisia 151 66 1,109 Ivory Coast 522 340 2,986 United Arab Emirates 1,127 828 5,213 Jamaica 314 56 968 Uruguay 1,044 376 1,976 Jordan 187 142 762 Venezuela 11,274 2.775 26,891 Kenya 177 269 800 Zaire 67 109 703 Kuwait 1,306 1,546 7,017 Zambia 94 247 442 Libya 52 100 736 Africa, the Middle East, and South Asia accounted for 22 percent of the total with East Asia close behind at 21 percent. The remaining 10 percent was held by Sub-Saharan Africa. Based on discussions with financial experts and a review of financial publications, we expect LDC debt to continue to grow at a slow pace in 1985. If this occurs, LDC external debt will reach about$850 billion by yearend. Lending from official sources probably will increase by 8 to 10 percent, but private creditors primarily commercial banks probably will boost their lending by only 3 to 5 percent. commercial banks are unwilling to extend any new medium-term loans to most LDCs unless forced to do so in financial rescue packages in conjunction with the IMF. Most of the increase in bank lending will continue to come in the form of short-term, trade-related credits because of their less risky nature. 25X1 25X1 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table 2 The 15 Largest LDC Debtors Yearend 1984 Debt Brazil 105.4 Mexico 101.5 South Korea 47.9 Argentina 46.0 Indonesia 33.6 Venezuela 33.0 "VIII I:nt Philippines 30.6 Suutl \xi" Egypt 26.5 India 26.3 Nigeria 21.5 Suh-SdII,I1 in Chile 21.0 Vlicu IU Malaysia 19.0 Algeria 18.0 Saudi Arabia 16.2 Thailand 14.6 Table 3 10 Major Debtors: Future Principal Repayments Billion us 5 Figure 3 Regional Distribution of LDC Debt, 1984 Argentina 2.7 4.3 4.0 2.7 2.1 1.6 Brazil 11.1 14.0 13.9 13.5 11.1 7.8 Chile 1.9 2.3 2.2 2.8 2.4 2.6 Indonesia 2.5 2.5 3.2 4.0 4.6 5.1 Malaysia 1.0 1.4 2.5 2.6 2.3 2.0 Mexico 6.4 2.8 3.4 5.5 6.7 7.1 Nigeria 3.1 3.1 3.6 3.4 3.1 2.5 Philippines 0.5 1.8 1.9 1.8 2.0 2.7 South Korea 2.6 3.1 3.4 3.3 2.8 2.0 Venezuela 2.3 2.6 2.6 2.6 3.0 3.2 We project that LDC debt service payments will be about \$125-130 billion in 1985, about the same as last year. Continued debt reschedulings and lower interest payments will offset the overall growth of the debt stock, keeping debt service payments from rising rapidly. This should provide some relief to the overall LDC payments position. Given the stagnation of LDC exports, however, the aggregate LDC debt service ratio will remain high and constrain improvements in their debt situations. large sources of new financing are not available. Although the LDCs have made some progress in managing their heavy debt burden, debt service pay- ments will remain onerous for the next several years (table 3). For some major debtors, past restructurings have created new repayment schedules that cause scheduled principal repayments to peak during the second half of the 1980s. As a result, LDCs will need to restructure their debt for the foreseeable future if Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Latin American countries were the most dependent on private sources of funds among LDC regions, with 87 percent of the group's debt owed to private credi- tors. US banks provided more than 26 percent of the private total. The 1984 aggregate debt service ratio for Latin America was 42 percent, sharply higher than the LDC average of 22 percent. In addition, the aggregate debt-to-exports ratio of 301 percent and the aggregate interest-to-exports ratio of 28 percent were more than double the LDC averages of 144 percent and 12 percent, respectively. Nearly 75 percent of East Asian debt in 1984 was owed to private creditors, with US banks holding more than 20 percent. The group's 1984 debt service ratio of 14 percent remained the lowest of any region, while the debt-to-exports ratio of 90 percent was well below the LDC average. East Asian countries-with the exception of the Philippines-remained the most creditworthy LDCs in the view of lenders during 1984. In North Africa, the Middle East, and South Asia, slightly more than half of the 1984 debt was account- ed for by private sources, and only about 11 percent of this total was held by US banks. The group's debt service ratio of 16 percent was well below the LDC average, and the debt-to-exports ratio of 86 percent and interest-to-exports ratio of 6 percent were the lowest among all LDC regions. This is because of the presence of several OPEC nations that are not major debtors but have substantial exports. Private creditors held more than 54 percent of Sub- Saharan Africa's total debt in 1984. Only about 7 percent of the private figure, however, was owed to US banks. Two countries Nigeria and the Ivory Coast-together accounted for 50 percent of the region's debt from private sources but only about 10 percent of Sub-Saharan Africa's total official debt. Excluding these two countries, more than 60 percent of the region's debt is owed to official sources. The group's debt service ratio of 32 percent and debt-to- exports ratio of 217 percent each were slightly above the LDC average. Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Appendix A Methodology Sources of Data The primary data sources used for our debt and debt service estimates are World Debt Tables (WDT), published by the International Bank for Reconstruc- tion and Development (IBRD); International Finan- cial Statistics (IFS), published by the IMF; and Maturity Distribution of International Bank Lending, published by the Bank for International Settlements (BIS). The WDT provides information through 1983 on medium- and long-term debt and debt service positions for 105 countries. It compiles all medium- and long-term debt of governments and official agen- cies as well as private-sector debt guaranteed by an official agency in the debtor country. The WDT also supplies estimates on private nonguaranteed debt and debt service for 21 countries. The IFS publishes information on foreign bank as- sets--broken down by interbank loans and loans to nonbanks-in developing countries and on foreign nonbank deposits in LDC banks. The data come from the banking authorities in the G-10 ? countries, Aus- tria, Bahrain, Denmark, Hong Kong, Ireland, and Singapore, and from information provided by the monetary authorities of more than 100 developing countries. Most of the information is current to yearend 1984. The semiannual BIS publication  provides informa- tion on external assets of commercial banks located in the G-10 countries, Austria, Denmark, Ireland, and certain foreign affiliates, with the most recent data being the positions at the end of June 1984. External assets include bank loans and other debt instruments held by reporting banks, such as bonds. The assets are broken down by debt maturing in one year or less, debt maturing within one to two years, and debt maturing in two years and beyond. 'The Group of 10 includes 11 nations: the United States, West Germany, the United Kingdom, France, Italy, Japan, Canada, the Netherlands, Belgium, Sweden, and Switzerland.  The BIS also publishes a quarterly report on the asset position of Western banks, but it does not break down the data by maturities. Another important source of data is the OECD, which provides debt and debt service estimates for both official and private nonguaranteed debt through 1983. Its compilers attempt to include debt of all maturities by individual country; however, short-term debt esti- mates are available only for 1982 and 1983. In addition, the OECD covers all developing countries. Other data sources we have used include debt esti- mates made by LDC governments, embassy esti- mates, and open-source reports. Estimating Medium- and Long-Term Debt For most countries, we estimated medium- and long- term debt from WDT, IFS, and BIS data. Data on debt from official sources were taken from the WDT. The base for debt from private sources was derived by taking WDT data on disbursed debt owed to financial markets and comparing it with medium- and long- term debt estimates derived from I FS and BIS data. To obtain IFS/BIS estimates of medium- and long- term debt held by foreign banks, we subtracted BIS assets maturing within one year from total BIS assets, and then added the prior year's BIS assets maturing within one to two years. We then compared total BIS assets with IFS foreign bank assets located in develop- ing countries. If the IFS total exceeded the BIS number, we multiplied the IFS number by the ratio of the BIS medium- and long-term estimate to total BIS assets. If the IFS or BIS estimate on medium- and long-term debt exceeded the WDT debt owed to financial markets, it was used instead of the WDT figure. When the WDT had data on nonguaranteed debt, the IFS or BIS medium- and long-term estimate was compared with the WDT total debt including pri- vate nonguaranteed-owed to financial markets. In cases where the IFS or BIS estimate exceeded the WDT estimate, that amount again was used in place of the WDT figure. 25X1 25X1 25X1 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential To obtain 1984 debt estimates, we projected the WDT 1983 estimates and the end-June 1984 BIS data to yearend 1984 and then followed the same procedure. Although the WDT does not have 1984 individual country estimates, it does publish aggregate estimates under regional country groupings. These aggregates are divided between debt owed to official and private sources. To obtain specific country base estimates on official and officially guaranteed debt for 1984, we multiplied the 1983 WDT debt totals for each LDC by 1 plus the percentage change from 1983 to 1984 of the WDT aggregate debt estimates. To obtain yearend 1984 BIS estimates on medium- and long-term debt owed to banks, we multiplied the BIS end-June 1984 semiannual data by I plus the percentage change in total bank assets from the end of June to the end of December 1984 as given in the BIS quarterly report on the external positions of banks. We also used OECD data to form a base estimate for countries that do not report their debt to the IBRD, or in instances where we believed a large portion of nonguaranteed debt was not caught by the WDT, IFS, or the BIS. Once the base estimates on medium- and long-term debt were made, we used other information to adjust the estimates. For example, we used 1984 debt esti- mates published by the IBRD when available. In addition, we used embassy, LDC government, and open-source reports to adjust the base estimates.F_ Estimating Short-Term Debt For most countries, we estimated short-term debt by first subtracting our BIS medium- and long-term debt estimates from total BIS assets. When the IFS debt held by foreign banks exceeded the BIS number, we multiplied the IFS total by the ratio of the BIS short- term estimate to total BIS assets. We then added the short-term estimate derived from the BIS or IFS to the IFS data on nonbank deposits in developing country banks to get a base estimate. Open-source data were used when available. We did not make short-term debt estimates with BIS or IFS data for countries where major offshore banking activities were present because of the inability to separate loans used by the host country and loans involved in the offshore banking facilities. For these countries The Bahamas, Bahrain, Barbados, Hong Kong, Lebanon, Liberia, Panama, Singapore, and Vanuatu we used the OECD figures for 1982 and 1983 and estimated the remaining years from these data. Quality of Debt Statistics In our judgment, these debt estimates can be viewed as minimum levels. For many countries, there are data gaps, especially in the area of short-term debt and private nonguaranteed debt. For example, our short-term debt estimates generally cover debt held by banks and nonbank deposits in LDC banks but exclude nonbank, trade-related credits. Recent data published jointly by the OECD and BIS, however, capture some of the nonbank, trade-related debt, and this information has been incorporated where possi- ble. Countries in the Data Base Our data base comprises 110 LDCs, including 97 non- OPEC and the 13 OPEC countries: ? Non-OPEC LDCs. Afghanistan, Angola, Argentina, The Bahamas, Bahrain, Bangladesh, Barbados, Be- lize, Benin, Bolivia, Botswana, Brazil, Burkina, Burma, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Chile, Colombia, Como- ros, Congo, Costa Rica, Cyprus, Djibouti, Domini- can Republic, Egypt, El Salvador, Equatorial Guin- ea, Ethiopia, Fiji, The Gambia, Ghana, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hong Kong. India, Ivory Coast, Jamaica, Jordan, Kenya, Lebanon, Lesotho, Liberia, Madagascar, Malawi, Malaysia, Maldives, Mali, Mauritania, Mauritius, Mexico, Morocco, Mozambique, Nepal, Nicaragua, Niger, Oman, Pakistan, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Rwanda, Senegal, Seychelles, Sierra Leone, Singapore, Solo- mon Islands, Somalia, South Korea, Sri Lanka, Sudan, Suriname, Swaziland, Syria, Taiwan, Tan- zania, Thailand, Togo, Trinidad and Tobago, Tuni- sia, Uganda, Uruguay, Vanuatu, Western Samoa, Yemen Arab Republic, Yemen PDR, Zaire, Zam- bia, and Zimbabwe. ? OPEC LDCs. Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela. F_ Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Appendix B Interest Cost and Currency Composition of LDC Debt The external debt of developing countries is composed of different types of loans that vary with respect to interest cost and availability for different borrowers. Bilateral and multilateral Official Development As- sistance (ODA) loans are the least expensive form of credit. The OECD estimates that the average interest cost on outstanding ODA loans is roughly 2 percent. The major recipients of ODA credits are the poorer developing countries that generally are unable to attract loans from commercial banks. The average interest costs on outstanding medium- and long-term export credits, multilateral nonconces- sional loans, and bonds is about 8 to 9 percent, according to OECD estimates. Export credits, the bulk of which are on fixed interest rates, consist of direct official financing, supplier credits, and subsi- dized or guaranteed credits financed by commercial banks. We estimate that roughly a third of all export credits are bank financed. Bonds and nonconcessional multilateral lending generally are also on fixed- interest terms. In addition to export credits, commercial banks pro- vide medium- and short-term financial credits. Medi- um-term credits are the most expensive for LDCs because most of them are based on floating interest rates such as LIBOR or US prime. We estimate that the average interest cost of floating-rate debt was around 13 percent in 1984. Financial credits are concentrated in the higher income developing coun- tries. Short-term credits include loans with an original maturity of less than one year along with outstanding lines of credit. The currency composition of LDC debt also varies widely among debtors and the type of credit. The US dollar is by far the dominant currency among loans to LDCs. According to OECD estimates, 56 percent of all medium- and long-term debt is denominated in US dollars. Meanwhile, the IBRD estimates that 76 percent of public and publicly guaranteed medium- and long-term debt is dollar-denominated, with the next highest currencies being the Japanese yen (6 percent), the deutsche mark (5 percent), and the French franc (3 percent). The US dollar also is dominant in most LDC regions, such as Latin Ameri- ca (89 percent of public medium- and long-term debt), East Asia (68 percent), and Sub-Saharan Africa (54 percent), according to the IBRD. The OECD esti- mates that some 80 percent of total short-term debt is in US dollars. Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Appendix C Debt Service Projections for 10 Major Debtors For most of the larger debtors, financial observers have examined future debt repayment schedules in an attempt to highlight potential problem years. AI- though future interest payments vary according to the level of market interest rates, principal repayments are fixed and may be concentrated in certain years. These humps in debtors' repayment profiles can pose major problems for the individual countries, with the remedy being additional new borrowing or debt, re- scheduling. The greatest attention is focused on those LDCs that rely heavily on private creditors as sources of funds. Debtors that borrow primarily from official sources generally have long repayment periods on those loans. which usually do not result in bunching of principal. On the other hand, debtors with large amounts of private-sourced debt are susceptible to humps in repayments because of the shorter loan maturities and the larger volume of debt owed. Moreover, the in- creased frequency of debt reschedulings has contrib- uted to the bunching of principal repayments. Compiling accurate data on future principal repay- ments is difficult for several reasons. One is the lack of information on private nonguaranteed debt. We have developed a methodology for estimating the stock of nonguaranteed debt, but estimation of the repayment schedule requires information on the terms of the loans, which is usually unavailable. A second problem concerns future borrowings and additions to the debt stock. Although repayment data are avail- able for existing debt, only general assumptions can be made about the principal repayments on future loans. Finally, adjustments to future principal repay- ments, such as prepayment or cancellation, are irnpos- sible to predict. An examination of future principal repayments for 10 major LDCs reveals that bunching of repayments occurs for different countries at different times. For example, Argentina and Brazil have bulges in 1986, while Malaysian and Nigerian principal repayments jump in 1987. For some countries, such as Mexico and the Philippines, debt reschedulings have smoothed their repayment schedules over the next several years. The data reflect only debt incurred through 1984. Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Appendix D Key Statistical Series This section contains the aggregate individual debt tables for the 110 LDCs covered in this paper, along with other pertinent statistical series, including three debt ratios: total yearend debt to exports of goods and services; total debt service to exports of goods and services; and total interest payments to exports of goods and services. Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-1 Key LDC Debt Ratios: Total Debt/Exports of Goods and Services LDC average 96 85 100 128 147 144 Guyana 174 148 195 287 339 388 Afghanistan 213 149 154 158 171 170 Haiti 114 94 179 197 191 185 Algeria 185 133 128 132 136 139 Honduras 155 162 203 236 253 283 Angola 18 19 33 41 35 38 Hong Kong 22 22 22 29 29 24 Argentina 192 243 302 443 471 461 India 171 159 167 177 189 188 Bahamas, The 84 78 91 103 59 53 Indonesia 118 94 91 125 157 167 Bahrain 16 15 12 18 17 16 Iran 47 65 56 35 31 42 Bangladesh 344 351 400 443 452 429 Iraq 19 15 39 38 58 59 Barbados 25 23 41 44 47 45 Ivory Coast 136 152 200 225 243 205 Belize 92 73 61 95 119 135 Jamaica 115 125 132 178 233 214 Benin 89 169 224 285 373 350 Jordan 139 139 130 162 209 236 Bolivia 305 254 315 337 414 492 Kenya 128 123 152 202 212 202 Botswana 55 38 49 45 39 37 Kuwait 17 18 32 55 63 58 Brazil 350 298 317 411 413 357 Lebanon 52 55 69 77 92 99 Burkina 175 156 173 254 280 313 Lesotho 21 18 23 34 36 37 Burma 365 364 343 469 638 632 Liberia 446 450 560 603 683 707 Burundi 122 204 212 255 297 266 Libya 10 8 14 18 16 14 Cameroon 116 113 130 159 203 200 Madagascar 182 261 452 566 712 715 Cape Verde 114 121 193 230 248 251 Malawi 264 267 249 262 309 247 Central African 85 85 120 139 146 149 Malaysia 43 42 60 84 100 106 Republic ---- ------ - Maldives 67 96 151 181 175 161 Chad 267 313 233 281 165 103 Mali 388 339 515 524 522 507 Chile 196 191 302 356 404 452 Mauritania 343 305 305 356 368 415 Colombia 125 123 179 207 265 252 Mauritius 62 65 79 80 76 78 Comoros 218 402 347 394 465 690 Mexico 309 248 287 324 358 327 Congo 212 134 131 169 183 152 Morocco 265 247 308 364 386 402 Costa Rica 155 196 259 273 322 293 Mozambique 139 155 173 232 330 388 Cyprus 69 65 74 82 103 97 Nepal 74 72 87 131 160 169 Djibouti 20 21 22 32 48 74 Nicaragua 224 419 466 759 849 1,015 Dominican Republic 136 154 151 215 232 225 Niger 94 117 161 220 226 331 Ecuador 143 156 207 239 308 279 Nigeria 28 24 40 114 179 166 Egypt 389 298 322 330 348 363 Oman 35 19 16 21 34 43 El Salvador 59 65 104 135 155 152 Pakistan 346 299 288 314 291 288 Equatorial Guinea 245 366 376 517 476 590 Panama 197 147 125 137 144 147 Ethiopia 129 132 205 196 245 266 Papua New Guinea 40 51 88 131 170 161 Fiji 53 511 66 61 Paraguay 155 156 179 195 293 247 Gabon 92 71 55 57 63 60 Peru 206 186 242 277 311 318 Gambia, The 116 201 249 207 205 244 Philippines 211 222 289 377 376 369 Ghana 107 111 183 212 295 242 Qatar 17 11 13 13 i9 15 Guatemala 58 37 91 125 163 185 Rwanda 65 106 119 157 166 182 Guinea 290 214 252 271 --- 268 242 Saudi Arabia 11 8 10 16 24 25 Guinea-Bissau 343 500 507 791 1,020 633 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Senegal 122 157 190 233 290 323 Togo 290 227 212 247 365 344 Seychelles 555 95 53 101 108 111 Trinidad and Tobago 30 26 37 46 50 50 Sierra Leone 166 175 257 385 445 411 Tunisia 146 140 131 169 199 208 Singapore 14 11 10 12 10 9 Uganda 137 195 218 199 188 174 Solomon Islands 8 13 22 64 75 96 United Arab Emirates 41 23 37 51 62 54 Somalia 477 390 386 445 730 1,021 Uruguay 112 100 112 184 236 272 South Korea 112 125 118 138 140 143 Vanuatu 0 34 16 44 52 56 Sri Lanka 133 134 149 198 213 160 Venezuela 145 122 124 168 198 178 Sudan 549 446 478 815 947 931 Western Samoa 253 207 359 378 318 305 Suriname 19 5 16 18 17 11 Yemen Arab Republic 268 304 368 465 654 720 Swaziland 58 50 42 54 64 75 Yemen PDR 424 360 475 580 795 854 Syria 117 121 132 159 168 108 Zaire 228 216 289 294 294 270 Taiwan 34 35 35 37 37 28 Zambia 161 190 265 324 352 442 Tanzania 235 301 254 323 373 372 Zimbabwe 45 45 79 118 149 156 Thailand 119 106 119 129 157 152 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-2 Key LDC Debt Ratios: Total Debt Service/ Exports of Goods and Services LDC average 21 22 Guyana 31 19 25 23 29 40 Afghanistan 14 7 15 16 15 12 Haiti 7 8 15 14 10 13 Algeria 32 30 31 36 41 49 Honduras 28 24 30 31 26 29 Angola 4 6 8 9 8 8 Hong Kong 4 5 6 6 6 5 Argentina 34 46 64 80 50 71 India 16 13 14 15 16 16 Bahamas, The 12 12 17 14 Indonesia 21 14 14 18 21 24 Bahrain 3 3 3 Iran 9 17 37 17 7 8 Bangladesh II 11 15 113 17 19 Iraq 4 3 8 8 l0 10 Barbados 4 5 5 5 5 7 Ivory Coast 22 29 42 43 42 43 Belize 10 8 6 12 15 17 Jamaica 20 20 33 28 26 29 Benin 3 20 29 8 20 30 Jordan 18 21 23 24 30 36 35 40 38 39 44 Kenya 12 14 20 31 33 32 Botswana 8 6 8 5 6 7 Kuwait 3 4 7 9 10 10 Brazil 70 64 70 84 54 53 Lebanon 11 11 17 17 19 21 Burkina 9 it 12 17 20 '_7 Lesotho I 1 2 4 4 5 Burma 45 43 44 46 66 76 Liberia 57 57 80 65 58 72 Burundi 6 12 14 22 21 20 Libya 5 4 8 8 10 9 Cameroon 12 12 17 22 33 29 Madagascar 15 24 32 47 103 97 Cape Verde 5 6 8 15 21 27 Malawi 27 34 37 25 25 27 Central African 4 4 5 4 13 13 Malaysia 8 5 8 11 11 12 Republic Maldives 4 2 7 12 15 20 Chad 12 11 13 14 13 13 Mali 22 18 36 28 31 34 Chile 44 44 70 73 57 70 Mauritania 36 16 25 18 15 22 Colombia 21 17 32 30 37 40 Mauritius 7 8 13 14 18 15 Comoros 7 19 19 25 33 46 Mexico 87 53 56 55 4738 Congo 27 13 18 25 36 36 Morocco 37 43 51 56 49 52 Costa Rica 28 26 29 20 34 31 Mozambique 11 18 22 37 47 56 Cyprus I I 11 13 14 18 16 Nepal 7 3 4 5 8 8 Djibouti 2 3 4 6 10 10 Nicaragua 17 29 48 72 29 47 Dominican Republic 31 26 26 33 33 32 Niger 11 17 22 43 36 43 Ecuador 48 28 42 54 30 27 Nigeria 3 4 6 17 26 41 Egypt 44 40 52 43 45 49 Oman 10 6 3 3 4 5 El Salvador 8 8 12 14 13 13 Pakistan 27 25 23 20 35 31 Equatorial Guinea 9 17 25 18 24 67 Panama 29 25 23 23 18 21 Ethiopia 7 13 12 19 21 Papua New Guinea 5 6 12 21 28 26 Fiji 4 5 7 7 9 11 Paraguay 19 24 29 22 25 30 Gabon 19 20 16 17 17 19 Peru 34 43 65 56 33 40 Gambia, The 10 9 12 17 12 21 Philippines 37 31 49 58 50 49 Ghana 10 12 17 21 33 2_8 Qatar 6 3 5 6 7 7 Guatemala 9 8 12 14 17 21 Rwanda 2 4 6 10 8 10 Guinea 30 23 20 21 25 31 Saudi Arabia 6 4 5 8 10 11 Guinea-Bissau 13 16 12 31 49 60 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Senegal 18 29 24 24 31 33 Togo 18 19 19 21 50 59 Seychelles 66 11 5 14 17 20 Trinidad and Tobago 4 8 6 7 10 9 Sierra Leone 27 24 39 29 34 35 Tunisia 18 21 23 26 36 38 Singapore 2 2 2 2 2 2 Uganda 5 9 27 22 29 26 Solomon Islands 0 0 2 12 12 14 United Arab Emirates 9 8 12 10 10 10 Somalia 19 12 19 13 34 62 Uruguay 13 15 14 24 26 34 South Korea 20 20 21 23 21 24 Vanuatu 0 5 3 7 11 10 Sri Lanka 13 12 13 17 18 15 Venezuela 22 25 25 35 30 35 Sudan 18 19 25 28 35 31 Western Samoa 20 17 23 18 20 23 Suriname 2 1 1 1 1 1 Yemen Arab Republic 24 16 31 30 37 42 Swaziland 5 5 5 8 9 9 Yemen PDR 19 23 38 31 43 50 Syria 16 17 20 22 20 15 Zaire 11 20 18 16 21 17 Taiwan 6 7 7 8 7 6 Zambia 24 27 39 33 28 42 Tanzania 12 13 10 10 11 10 Zimbabwe 2 3 8 15 18 20 Thailand 22 20 21 21 25 27 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table 13-3 Key LDC Debt Ratios: [otal lntere_et Payments, Exports of Goods and Sersies I_D( aNerage (,uvana 13 14 15 25 Afghanistan t aitt 3 8 9 7 7 Algeria Hondura-. 15 15 Angola 3 4 3, 3 Ilong Konc 3 3 Argentina 11) 5(1 36 41 India 4 6 6 7 Bahamas, The 4 2 6 6 IndonccI; 9 8 10 II 12 Bahctin Iran 4 6 S 2 3 ha l i glade,. ! Iraq 2 5 5 6 Barbados 10 14 20 22 21 20 Beiirc 16 16 Bcnin 1() 4 O I2 3ord:!n 9 11 11 11 13 16 Bolivia 11 26 Kenta 9 10 14 13 13 Ba!sti ,tna Kuwait 6 6 Bra O 34 42 5- 40 38 I_eban,n 7 8 B ii rk!n_ n 6 9 9 13 I esutho I 0 I 2 _ 2 Burma 17 16 18 20 26 29 Liberia 48 34 78 61 36 64 13!!rundi a 6 7 9 3 ii Iibca 1 1 1 1 Ca ~ner ion 6 7 10 14 1 \ladagascar 8 13 16 45 50 Cane Verde 6 9 Malawi 1 ti 18 20 Central Atri Malaysia 4 4 5 7 7 8 Republic llaldities 4 2 6 10 10 9 Chad 3 4 Mali 15 12 13 12 i6 Chi lc 20 38 48 38 46 Mauritania I1 10 1S 13 11 15 Colnctbar 1 1 21 21 22 Nlauritiu, 4 8 7 6 6 Comoros II 3 18 M ezi 32 30 39 40 36 30 Congo 10 12 12 Morocco 19 22 28 25 23 26 ( osta Rica I's 21 14 29 25 Mozambique 9 12 16 21 26 26 Ccprus 1 6 8 8 10 9 Nepal 3 I 3 3 5 5 Di;bout) I 2 2 3 _ Nicaragua 12 _0 32 51 20 31 Dominican Republic I! 15 17 17 17 15 Niger 6 9 12 19 16 20 Ecuador I 15 26 32 2i 20 'Nigeria 2 3 4 12 16 17 Egypt 22 20 28 23 20 23 Oman 2 2 I , 2 El Salvador 5 5 8 9 8 8 Pakistan li 11 11 10 11 11 Equatorial Guinea i 5 3 I 21 Panama 22 19 l8 17 14 15 Ethiopia 4 4 7 6 7 Papua New Guinea 3 3 8 12 13 13 talc 2 3 4 5 5 Paraguat 10 12 16 13 15 18 Gabon 5 6 6 Peru 18 19 27 27 21 25 Gambia, The 8 5 4 10 Philippines 19 22 36 38 31 32 Ghana 10 10 13 1i Qatar 1 1 2 Guatemala 5 5 8 9 11 14 Rwanda 2 3 4 Guinea 10 7 7 8 8 8 Saudi Ambit: Guinea-Bissau 6 _ 6 9 16 20 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential ScnegaI 9 13 14 13 13 16 Togo 7 II 11 20 35 Seychelles b5 10 3 6 6 8 Trinidad and Tobago 3 2 4 5 5 5 Sierra Leone 9 9 18 17 19 17 'Tunisia 9 I I 10 I I 13 14 Singapore 1 1 1 1 1 Uganda 3 2 4 5 7 8 Solomon. Islands 0 0 I 5 6 United Arab Emirates 4 3 5 6 6 6 Somalia 9 6 3 7 13 Uruguev 8 9 10 18 19 24 South Korea 9 13 14 15 12 14 Vanuatu 0 3 2 3 5 5 Sri Lanka 7 7 9 11 11 8 Venezuela 14 15 17 22 22 19 Sudan i4 13 20 16 17 Western Samoa 8 9 13 7 6 Suriname 2 I 1 Yemen Arab Republic 1 I 7 11 11 16 18 Swaziland 3 Yemen PDR 11 14 I 1 10 16 21 Syria II 1 Zaire 7 11 12 8 0 9 Taiwan 5 4 Zambia 10 14 19 20 16 27 Tanzania Thailand Zimbabwe I 1 6 10 11 12 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a Total LDCs Total debt 454,081 531,553 642,679 727,924 785,644 814,783 Medium/long-term 345,289 394,081 451,378 515,405 572,979 627,474 Official sources 127,167 146,825 162,487 183,312 203,352 217,832 Private sources 218,122 247,256 288,890 332,093 369,627 409,643 Short-term 108,792 137,472 191,301 212,519 212,665 187,309 Total debt service 81,870 97,165 126,210 127,333 111,286 125,537 Principal 45,375 46,909 55,451 55,239 48,656 57,508 Interest 36,495 50,256 70,759 72,094 62,629 68,029 Medium/long-term 23,440 31,010 38,621 46,167 42,213 47,800 Short-term 13,055 19,246 32,138 25,927 20,417 20,229 Non-OPEC LDCs Total debt 347,791 413,971 508,908 575,921 620,225 649,157 Medium/long-term 268,226 310,719 365,744 420,728 467,517 516,393 Official sources 105,726 122,580 135,594 152,578 169,564 182,354 Private sources 162,500 188,139 230,150 268,149 297,953 334,040 Short-term 79,565 103,252 143,164 155,193 152,708 132,764 Total debt service 59,739 69,310 89,767 90,435 78,104 87,529 Principal 32,180 30,903 34,793 34,882 29,935 34,679 Interest 27,559 38,407 54,974 55,553 48,169 52,850 Medium/long-term 18,011 23,952 30,923 36,620 33,508 38,511 Short-term 14,455 24,052 18,933 14,661 14,338 Total debt 106,290 117,583 133,771 152,004 165,419 165,626 Medium/long-term 77,063 83,363 85,634 94,678 105,462 111,081 Official sources 21,441 24,245 26,894 30,734 33,787 35,478 Private sources 55,622 58,740 63,943 71,674 75,603 Short-term 29,227 34,220 48,137 57,326 59,957 54,545 Total debt service 22,131 27,855 36,443 36,898 33,182 38,009 Principal 13,195 16,006 20,658 20,356 18,721 22,829 Interest 8,936 11,849 15,785 16,541 14,460 15,179 Medium/long-term 5,429 7,058 7,698 9,548 8,704 9,288 Short-term 3,507 4,791 8,087 6,994 5,756 5,891 Afghanistan Total debt 1,307 1,209 1,249 1,334 1,360 1,357 Medium/long-term 1,285 1,195 1,242 1,324 1,350 1,355 Official sources 1,240 1,155 1,212 1,304 1,340 1,350 Private sources 45 40 30 20 10 5 Short-term 22 14 7 10 10 2 Total debt service 84 55 119 135 121 99 Principal 58 46 98 114 98 84 Interest 26 9 21 22 23 15 Medium/long-term 24 7 20 20 22 15 Short-term 3 2 1 0 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Algeria Total debt 18,711 19,348 19,334 18,915 18,451 18,000 Medium/ long-term 17,048 17,313 16,936 16,169 16.481 16,200 Official sources 2,164 2,512 2,511 2,531 2,690 2,800 Private sources 14,884 14,802 14,425 13,639 13,791 13,400 Short-term 1,663 2,035 2,398 2,746 1,970 1,800 Total debt service 3,267 4,409 4,702 5,164 5,564 6,317 Principal 1,759 2,644 2,846 3,286 3,922 4,627 Interest 1,508 1,765 1,856 1.879 1,642 1,690 Medium/long-term 1,309 1,480 1,453 1,544 1,453 1,496 Short-term 200 285 403 335 189 194 Angola Total debt 210 358 616 741 697 761 Medium/long-term 201 317 453 553 554 600 Official sources 120 160 212 238 260 275 Private sources 81 157 241 315 294 325 Short-term 9 41 163 188 143 161 Total debt service 49 109 151 165 150 162 Principal 35 79 87 94 95 100 Interest 14 30 64 71 55 62 Medium/long-term 13 24 37 48 41 45 Short-term 1 6 27 23 14 17 Argentina Total debt 19,034 27,162 35,671 43,243 45,946 46,049 Medium/long-term 12,703 15,877 24,251 30,468 31,473 32,020 Official sources 1,871 1,911 1,929 2,008 2,014 2,020 Private sources 10,832 13,966 22,322 28,460 29,459 30,000 Short-term 6,331 11,285 11,420 12,775 14,473 14,029 Total debt service 3,394 5,115 7,543 7,772 4,881 7,083 Principal 1,672 2,091 2,980 2,933 1,419 3,000 Interest 1,722 3,024 4,563 4,839 3,462 4,083 Medium/long-term 962 1,444 2,645 3,281 2,072 2,568 Short-term 760 1,580 1,919 1,559 1,389 1,515 Bahamas, The Total debt 799 899 1,060 1,201 751 725 Medium/long-term 99 99 160 246 246 225 Official sources 9 9 14 22 24 25 Private sources 91 90 146 224 222 200 Short-term 700 800 900 955 505 500 Total debt service 117 144 192 158 101 95 Principal 24 22 29 18 23 14 Interest 93 123 163 140 78 80 Medium/long-term 9 11 12 23 29 26 Short-term 84 112 151 117 49 54 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a (continued) Bahrain Total debt 450 627 571 871 667 650 Medium/long-term 250 427 371 665 527 500 Official sources 92 105 120 130 100 100 Private sources 158 322 251 535 427 400 Short-term 200 200 200 206 140 150 Total debt service 63 106 101 141 131 136 Principal 22 44 36 56 63 65 Interest 41 63 65 85 68 71 Medium/long-term 17 35 32 60 55 55 Short-term 24 28 34 25 13 16 Bangladesh Total debt 2,935 3,791 4,177 4,499 4,412 4.628 Medium/long-term 2,845 3,521 3,852 4,295 4,184 4,350 Official sources 2,691 3,373 3.707 4,150 4,035 4,200 Private sources 154 148 145 145 150 150 Short-term 90 270 325 204 228 278 Total debt service 95 113 152 136 165 210 Principal 43 40 51 63 80 113 Interest 52 73 101 73 85 97 Medium/long-term 41 36 47 48 63 67 Short-term 11 38 55 25 22 30 Barbados Total debt 108 132 229 272 329 360 Medium/long-term 88 107 199 252 318 350 Official sources 51 63 93 116 150 170 Private sources 37 44 107 136 168 180 Short-term 20 25 30 20 11 10 Total debt service 19 26 29 33 36 59 Principal 9 12 13 12 14 32 Interest 10 14 17 21 22 27 Medium/long-term 8 10 12 19 21 26 Short-term 2 4 5 2 1 1 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Belize Total debt 83 82 64 85 113 135 Medium/long-term 47 59 60 60 64 76 Official sources 34 38 39 40 44 57 Private sources 13 21 22 20 20 19 Short-term 36 23 4 25 49 59 Total debt service 9 9 6 11 14 17 Principal 3 3 3 5 6 7 Interest 6 6 3 6 8 10 Medium/long-term 2 3 3 3 4 4 Short-term 4 3 1 3 5 6 Benin Total debt 213 465 559 570 671 665 Medium/long-term 197 451 544 559 635 650 Official sources 160 199 209 253 302 355 Private sources 37 252 335 306 333 295 Short-term 16 14 15 11 36 15 Total debt service 8 55 73 16 36 56 Principal 3 33 48 8 18 33 Interest 5 22 25 8 18 23 Medium/long-term 3 20 22 7 15 22 Short-term 2 2 3 1 4 2 Bolivia Total debt 2,618 2,687 3,240 3,100 3,626 4,331 Medium/long-term 2,036 2,322 2.732 2,705 3.071 3.620 Official sources 986 1,166 1,310 1,386 2,086 2,500 Private sources 1,050 1,157 1,421 1,319 985 1,120 Short-term 582 365 508 395 555 711 Total debt service 384 373 412 348 337 385 Principal 178 145 135 115 108 110 Interest 206 228 278 234 229 275 Medium/long-term 137 177 192 185 176 198 Short-term 70 51 85 48 53 77 Botswana Total debt 317 283 296 281 317 315 - Medium/long-term 295 283 286 261 286 312 Official sources 130 147 160 177 199 225 Private sources 166 136 125 84 87 87 Short-term 22 0 10 20 31 3 Total debt service 48 45 46 30 45 55 Principal 26 26 26 13 24 33 Interest 22 19 20 17 21 22 Medium/long-term 19 19 18 14 18 22 Short-term 3 0 2 2 3 0 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a (continued) Total debt 62,979 69,299 85,233 96,393 100,441 105,350 Medium/long-term 51,479 56,499 64,625 73,034 79,580 84,281 Official sources 6,718 7,359 8,135 9,022 10,659 11,000 Private sources 44,761 49,140 56,490 64,012 68,922 73,281 Short-term 11,500 12,800 20,608 23,359 20,861 21,069 Total debt service 12,638 14,933 18,795 19,674 13,209 15,561 Principal 6,509 6,820 7,395 7,484 3,534 4,500 Interest 6,129 8,113 11,400 12,191 9,675 11,061 Medium/long-term 4,749 6,321 7,938 9,341 7,672 8,785 Short-term 1,380 1,792 3,462 2,850 2,003 2,276 Burkina Total debt 317 350 361 406 490 500 Medium/long-term 258 300 323 367 452 467 Official sources 239 280 291 315 356 365 Private sources 19 20 32 52 97 102 Short-term 59 50 38 39 38 33 Total debt service 16 24 26 27 35 43 Principal 5 11 12 13 19 23 Interest 12 13 14 14 16 20 Medium/long-term 5 6 8 9 12 17 Short-term 7 7 6 5 4 4 Burma Total debt 1,503 1,803 2,145 2,430 2,826 3,000 Medium/long-term 1,427 1,803 2,098 2,349 2,797 3,000 Official sources 913 1,167 1,294 1,579 1,850 2,000 Private sources 514 636 805 770 947 1,000 Short-term 76 0 47 81 29 0 Total debt service 185 212 275 238 291 358 Principal 116 133 160 135 175 223 Interest 69 79 115 103 117 135 Medium/long-term 60 79 107 93 114 135 Short-term 8 10 3 0 Burundi Total debt 135 165 188 275 350 373 Medium/long-term 111 143 174 257 333 350 Official sources 98 133 152 197 268 290 Private sources 13 10 22 60 66 60 Short-term 24 22 14 18 17 23 Total debt service 7 10 13 24 25 28 Principal 3 4 7 14 16 17 Interest 4 5 6 10 9 11 Medium/long-term 3 7 8 9 Short-term 2 2 2 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 (continued) Cameroon Total debt 1,982 2,362 2,382 2,853 3,193 3,302 Medium/long-term 1,854 2,227 2,281 2,594 2,993 3,100 Official sources 1,018 1,188 1,290 1,316 1,424 1,500 Private sources 836 1,038 992 1,279 1,569 1,600 Short-term 128 135 101 259 200 202 Total debt service 197 259 302 391 524 482 Principal 103 115 142 208 301 299 Interest 94 143 159 183 223 183 Medium/long-term 79 125 142 152 204 161 Short-term 15 19 17 32 19 22 Cape Verde Total debt 21 24 71 87 98 Medium/long-term 21 24 71 87 98 Official sources 18 20 60 74 83 Private sources 3 4 11 13 15 Short-term 0 0 0 0 0 Total debt service 1 1 5 7 10 Principal 1 1 3 4 6 Interest 0 1 2 3 4 Medium/long-term 0 1 3 4 Short-term 0 0 0 0 Central African Republic Total debt 136 174 213 219 224 238 Medium/long-term 127 168 206 213 221 235 Official sources 56 89 139 161 172 190 Private sources 71 79 67 52 49 45 Short-term 9 6 7 6 3 3 Total debt service 6 7 9 6 20 21 12 13 Interest 3 3 Medium/long-term 2 2 2 3 7 8 Short-term I I I I 0 0 Chad Total debt 248 222 205 169 178 153 Medium/long-term 235 222 201 167 170 152 Official sources 166 158 140 108 102 100 Private sources 69 65 61 59 68 52 Short-term 13 0 4 2 8 1 Total debt service 11 7 11 8 14 19 Principal 7 5 8 5 10 14 Interest 3 2 3 3 5 4 Medium/long-term 2 2 2 3 4 4 Short-term 2 0 I 0 1 0 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a (continued) Chile Total debt 9,281 11,962 16,951 18,370 19,486 21,014 Medium/long-term 7,548 9,418 12,636 13,959 14,952 16,000 Official sources 1,669 1,537 1,416 1,305 1,480 1,700 Private sources 5,879 7,881 11,220 12,654 13,472 14,300 Short-term 1,733 2,544 4,315 4,411 4,534 5,014 Total debt service 2,107 2,736 3,947 3,742 2.739 3,263 Principal 1,317 1,462 1,799 1,258 917 1,118 Interest 791 1,275 2,148 2,484 1,822 2.145 Medium/long-term 583 919 1,423 1.946 1,387 1,603 Short-term 208 356 725 538 435 542 Colombia Total debt 6,082 7,205 8,978 10,308 11,269 11,612 Medium/long-term 3,996 4,758 6,161 7,414 8,397 9,085 Official sources 2,144 2,383 2,626 2.995 3,488 4,000 Private sources 1,852 2.375 3,535 4,419 4.909 5,085 Short-term 2,086 2,447 2,817 2.894 2,872 2,527 Total debt service 1,019 983 1,609 1,483 1,576 1,855 Principal 481 330 559 429 634 805 Interest 538 653 1,050 1,054 943 1,050 Medium/long-term 287 310 576 701 667 778 Short-term 250 343 473 353 276 273 Total debt 44 52 63 83 102 131 Medium/long-term 44 51 63 83 101 131 Official sources 39 43 52 67 83 110 Private sources 5 8 10 16 19 21 Short-term 0 1 0 0 1 0 Total debt service 1 2 3 5 7 9 Principal 1 1 2 3 4 5 Interest I 1 1 2 3 3 Medium/long-term 1 1 1 2 3 3 Short-term 0 0 0 0 0 0 Congo Total debt 1,207 1,377 1,542 2,034 2,118 2,125 Medium/long-term 1,045 1,170 1,474 1,906 12995 1000 Official sources 694 747 846 897 851 800 Private sources 351 424 627 1,009 1,144 1,200 Short-term 162 207 68 128 123 125 Total debt service 153 138 208 305 412 501 Principal 87 64 110 185 278 333 Interest 66 74 98 120 135 168 Medium/long-term 46 45 86 104 123 154 Short-term 19 29 11 16 12 14 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Costa Rica Total debt 1,718 2,386 3,101 3,120 3,788 3,696 Medium/long-term 1,364 1,821 2,362 2.578 3,315 3,500 Official sources 616 795 939 1,106 1,437 1,600 Private sources 748 1,026 1,423 1.473 1,878 1,900 Short-term 354 565 739 542 473 196 Total debt service 315 316 349 233 395 396 Principal 183 95 97 71 50 76 Interest 132 221 252 162 345 320 Medium/long-term 89 142 128 96 300 299 Short-term 43 79 124 66 45 21 Cyprus Total debt 618 715 867 1,025 1,267 1,360 Medium/long-term 406 518 629 751 863 970 Official sources 150 163 176 219 259 300 Private sources 257 355 453 532 604 670 Short-term 212 197 238 274 404 390 Total debt service 97 120 159 168 222 225 Principal 39 53 64 74 105 104 Interest 59 67 94 94 1 1 6 1 22 Medium/long- terin 33 39 54 61 77 79 Short-term 25 28 40 33 39 42 Djibouti Total debt 24 33 36 47 73 115 Medium/long-term 22 31 30 42 65 80 Official sources 21 21 16 18 28 46 Private sources 1 l0 14 24 37 34 Short-term 2 2 6 5 8 35 Total debt service 3 5 7 9 15 16 Principal I 3 4 6 10 8 Interest 1 2 3 3 5 7 Medium/long-term 1 1 2 4 4 Short-term 0 0 1 1 4 Dominican Republic Total debt 1,588 2,019 2,296 2,459 2,784 2,876 Medium/long-term 1,214 1,478 1,677 1,928 2.403 1500 Official sources 554 810 1,020 1,325 1,449 1,500 Private sources 660 668 657 603 953 1.000 Short-term 374 541 619 531 381 376 Total debt service 358 334 399 379 393 410 Principal 232 137 144 184 19 2 2 1 2 Interest 126 197 255 ',95 201 198 Medium/long-terns 81 122 151 131 i65 157 Short-term 45 76 104 65 37 41 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a (continued) Ecuador Total debt 3,554 4,652 6,211 6,520 8,269 8,372 Medium/long-term 3,343 4,096 4,221 4,355 6,239 7,000 Official sources 1,126 1.351 1,739 1,583 1,639 2,000 Private sources 2,218 2.745 2,482 2.772 4,600 5,000 Short-term 211 556 1,990 2,165 2,030 1,372 Total debt service 1,178 843 1,257 1,481 810 798 Principal 875 397 482 596 250 200 Interest 302 446 775 885 560 598 Medium/long-term 277 368 441 621 365 450 Short-term 25 78 334 264 195 148 Egypt Total debt 17,036 19,446 22,364 23,792 25,252 26,472 Medium/long-term 12,236 13,836 15,238 15.376 17,202 18,500 Official sources 9,538 10,665 11,443 12,202 12,535 13,500 Private sources 2,698 3,171 3,795 3,174 4,667 5,000 Short-term 4,800 5,610 7.126 8,416 8,050 7,972 Total debt service 1,932 2,598 3,588 3,100 3,254 3,595 Principal 983 1,301 1,637 1.477 1.807 1,940 Interest 949 1,297 1,952 1.623 1,447 1.655 Medium/long-terra 373 511 754 597 674 794 Short-term 576 785 1,197 1.027 773 861 El Salvador Total debt 805 830 1,011 1.174 1,403 1,506 Medium/long-term 529 612 801 970 1,304 1,505 Official sources 388 498 652 774 1,013 1,200 Private sources 141 1 15 149 196 291 305 Short-term 276 218 210 204 99 l Total debt service 102 100 115 122 115 130 Principal 36 34 36 46 43 55 Interest 66 66 79 76 71 75 Medium/long-term 33 35 44 51 62 75 Short-term 33 31 35 25 10 0 Equatorial Guinea Total debt 37 62 68 93 105 118 Medium/long-terns 36 57 6 92 103 1 i5 Official sources 33 50 57 68 S7 100 Private source, _ 10 24 16 IS Snort-term 1 = I 1 2 3 Total debt service 1 3 5 3 5 13 Principal 1 2 4 3 4 9 Interest 0 1 1 0 1 4 Medium!long-term 0 0 0 0 1 4 Short-term 0 0 0 0 0 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Ethiopia Total debt 690 758 1,087 1,137 1,402 1,663 Medium/long-term 616 703 987 1,060 1,333 1,600 Official sources 593 663 884 952 1,132 1,333 Private sources 23 40 103 108 201 267 Short-term 74 55 100 77 69 63 Total debt service 37 42 66 70 107 132 Principal 15 18 30 37 67 88 Interest 22 25 36 33 41 44 Medium/long-term 13 17 19 24 34 37 Short-term 9 8 17 9 7 7 Fiji Total debt 144 231 297 277 336 321 Medium/long-term 120 201 262 266 306 310 Official sources 82 124 179 210 229 230 Private sources 38 77 83 56 77 80 Short-term 24 30 35 11 30 11 Total debt service 19 31 39 35 44 57 Principal 9 15 14 12 17 29 Interest 10 16 25 24 27 28 Medium/long-term 7 12 19 22 24 26 Short-term 3 4 6 1 3 1 Gabon "Total debt 1,875 1,720 1,397 1.336 1,388 1,319 Medium/long-term 1,681 1,560 1,326 1,230 1,219 1,200 Official sources 421 401 357 322 297 270 Private sources 1,260 1,158 969 907 922 930 Short-term 194 160 71 106 169 1 19 Total debt service 385 482 412 403 382 420 Principal 249 317 283 260 270 288 Interest 135 165 129 143 113 133 Medium/long-term 112 143 117 130 96 120 Short-term 23 22 12 13 16 13 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service (continued) Gambia Total debt 91 134 164 176 185 207 :Alediu n/long-term 79 116 148 161 169 185 Official sources 51 82 1 I I 122 127 140 Private sources 28 34 38 40 41 45 Short-term 12 18 16 15 16 22 Total debt service 8 6 8 14 10 18 Principal 4 2 2 10 6 10 Interest 4 4 5 4 4 8 Medium/ long-term Short-term I 1 3 3 2 2 2 Ghana Total debt 1,243 1,341 1,520 1,514 1,497 1,523 Medium/long-term 1,063 1,231 1,260 1,325 1,345 1,362 Official sources 701 883 919 949 957 980 Private sources 362 348 341 376 388 382 Shortterm ISO I10 260 189 152 161 Total debt service 111 140 144 148 166 174 Principal 85 o l 78 99 104 Interest 59 55 83 69 67 71 Medium/long-term 37 40 39 46 53 53 Short-term 22 15 44 23 15 17 Guatemala Total debt 895 1,045 1,400 1,675 1,966 2.401 vlediumilong-term 659 782 1,032 1,310 1.521 1.700 Official sources 422 534 742 1,010 1,106 1,200 Private sources 237 248 289 300 415 500 Short-tern 236 263 368 365 445 701 Total debt service 132 145 178 188 203 269 Priincipal 59 54 53 64 i_ 90 Interess 73 91 125 124 131 179 Medium, long-term 45 54 64 80 88 103 Short-tern; 28 37 62 45 43 76 Guinea Total debt 1,144 1,157 1,359 1.354 1,475 1,449 11ed un;long-,errs 1,064 1,110 1.301 1,298 1,415 1,400 Oin,:ial sources 806 828 1,057 1,044 1,040 1,035 Private sources 258 282 244 254 376 365 Short-term 80 47 58 56 60 49 Total debt service 117 124 107 105 140 184 Principal 76 86 71 68 94 134 Interest 40 38 36 38 46 50 Nleditill) /long-term 31 32 27 31 40 45 Short-terra 10 10 7 6 5 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Guinea-Bissau Total debt 62 105 112 135 163 190 Medium/long-term 60 103 111 135 154 11)2 Official sources 42 73 84 97 1 12 132 Private sources 17 30 26 37 42 50 Short-term 2 2 1 0 9 8 Total debt service 2 3 3 5 8 18 Principal 1 2 1 4 12 Interest 1 1 11 2 6 Medium/long-term I 1 1 2 2 5 Short-term 0 0 0 (i I Guyana Total debt 547 607 725 757 763 1,047 Medium/long-term 496 554 647 661 663 675 Official sources 290 339 460 483 508 525 Private sources 206 215 187 178 154 150 Short-term 51 53 78 96 100 373 Total debt service 97 77 93 61 65 107 Principal 66 43 44 25 71 40 Interest 31 34 49 36 34 67 Medium/long-term 25 27 36 24 25 Short-term 6 7 13 12 10 40 Haiti Total debt 246 291 441 548 563 602 Medium/long-term 230 281 379 431 455 523 Official sources 211 243 280 326 364 430 Private sources 19 38 99 105 91 93 Short-term 16 10 62 117 108 79 - Total debt service 15 26 38 38 29 43 Principal 9 18 19 12 9 22 Interest 6 8 19 26 20 21 Medium/long-term 4 7 9 11 9 13 Short-term 2 1 10 14 10 9 Honduras Total debt 1,331 1,566 1,834 1,854 2,050 2,409 Medium/long-term 974 1,209 1,430 1,534 1,766 2,050 Official sources 610 740 887 1,023 1,183 1,400 Private sources 364 469 543 511 583 650 Short-term 357 357 404 320 284 359 Total debt service 241 230 271 243 206 243 Principal 133 93 105 92 81 112 Interest 108 137 166 151 125 131 Medium/long-term 65 87 99 112 98 92 Short-term 43 50 68 39 27 39 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service,, (continued) Hong Kong Total debt 3,876 4,713 5,250 6.852 7,156 7,410 Medium/long-term 1,876 2,513 2.950 4,454 4,846 5.210 Official sources 28 42 47 53 55 60 Private sources 1.848 2,470 2,903 4,402 4.791 5,150 Short-term 2.000 2,200 2,300 1398 2,310 2,200 Total debt service 762 969 1,328 1,492 1,391 1,545 Principal 353 423 599 738 744 779 Interest 409 546 729 754 646 766 Medium/long-term 169 238 343 462 424 528 Short-term 240 308 386 293 222 238 India Total debt 17,793 19,554 20,421 22,593 24,511 26,344 Medium/long-term 17,546 19,186 19.856 21,650 23,524 25,330 Official sources 15,460 17,040 17,218 18,377 19,627 21,000 Private sources 2,086 2,146 1639 3,273 3,898 4.330 Short-term 247 368 565 943 987 1,014 Total debt service 1,631 1,585 1,644 1,862 2,108 2,276 Principal 1,081 1,058 1,058 1,123 1,277 1,320 Interest 550 527 586 739 831 957 Medium/long-term 520 476 491 624 736 847 Short-term 30 52 95 115 95 110 Indonesia Total debt 18,318 20,823 22,544 26,581 31,161 33,645 Medium/long-term 16,093 18,135 19,529 22,824 26,518 29,100 Official sources 8,509 9,506 10,058 11,112 12,036 13,000 Private sources 7,584 8,629 9.472 11.712 14,482 16,100 Short-term 2,225 2.688 3,015 3,757 4,643 4,545 Total debt service 3,281 3,040 3,593 3,890 4,171 4,845 Principal 1,954 1,540 1,668 1,835 2,044 2,395 Interest 1,328 1,500 1,925 2,055 2,127 2,450 Medium/long-term 1,061 1,124 1,419 1,597 1,681 1,959 Short-term 267 376 507 458 446 491 Iran Total debt 11,197 11,352 8,462 7,035 6,980 6,321 Medium/long-term 10,109 9,969 6,857 5,000 4,712 4,200 Official sources 2,500 2,500 2,857 3,135 3,000 3,000 Private sources 7,609 7,469 4,000 1,865 1,712 1,200 Short-term 1,088 1,383 1,605 2,035 2,268 2,121 Total debt service 2,264 2,995 5,468 3,408 1,628 1,179 Principal 1,421 1,932 4,467 2,441 1,106 700 Interest 843 1,063 1,001 967 523 479 Medium/long-term 713 870 732 719 305 250 Short-term 131 194 270 248 218 229 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Iraq Total debt 4,470 4,291 5,043 4,599 5,758 6,530 Medium/long-term 2,270 2,491 3,043 2,313 3,500 4.130 Official sources 616 730 900 925 1,700 1,700 Private sources 1,654 1,761 2,143 1,388 1,800 2,430 Short-term 2,200 1,800 2,000 2,286 2,258 1400 Total debt service 821 841 1,032 908 987 1,109 Principal 387 400 433 369 468 500 Interest 434 441 599 539 519 609 Medium/long term 170 189 263 260 302 350 Short-term 264 252 336 279 217 259 Ivory Coast Total debt 4,467 5,539 5,782 6,470 6,213 6.175 Medium/long-term 3,853 4,633 4,928 5,560 5,445 5,505 Official sources 1,075 1,211 1,158 1,441 1,624 1,800 Private sources 2,778 3,422 3,770 4,119 3,821 3,705 Short-term 614 906 854 910 768 670 Total debt service 709 1,069 1,219 1,241 1,063 1,291 Principal 385 564 631 605 520 701 Interest 324 505 589 636 543 590 Medium/long-term 250 378 445 525 470 517 Short-term 74 127 144 111 74 72 Jamaica Total debt 1,400 1,783 1,982 2,439 3,118 2,993 Medium/long-term 1,248 1,603 1,811 2,197 2,350 2,550 Official sources 635 888 1,050 1,346 1,509 1,650 Private sources 613 715 761 850 841 900 Short-term 152 180 171 242 768 443 Total debt service 238 282 495 381 345 399 Principal 120 126 340 177 129 170 Interest 118 156 156 205 217 229 Medium/long-term 100 131 127 175 143 182 Short-term 18 25 29 30 74 48 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate I.DC Debt and Debt Service (continuedi Jordan Total debt 1.692 2,366 2,729 3.347 3,921 4,482 Medium/long-term 265 .743 2.0!)5 41I 2,942 3.400 Official sources 765 994 1,224 1.464 1.615 1.800 Pri,.aic s. irces .20 49 76 947 1,128 1,600 Short tern! 41.i 623 724 `~36 97' 1.062 Total debt service 214 352 480 488 553 681 Principal i0% 167 246 258 303 372 Interest 107, 1'i. 2) 230 309 Medium; long-term 5% 96 i l3 116 156 19, Short-term 46 6 7 122 1 14 94 i 7 Kenya Total debt 2,086 2,538 1655 3,075 3.124 3,167, \ledium/tong-tern; 1.667 2216 401 2,854 2,847 2,920 Official 1,064 1,2t)4 1.397 1,619 1.740 1.900 Private source; 803 952 1.005 1,235 1,107 1,020 Short-ter.r 214 322 254 221 247 Total debt service 197 295 354 475 480 506 Principal 84 118 179 263 284 300 Interest 113 177 176 212 196 207 Medium/long-term 86 132 i 33 i 85 169 180 Short-terra 26 45 43 1_7 27 27 Kuwait Total debt 3,796 4,928 8,150 10,000 10,930 10,260 Medium/long-terra 862 1,053 1,320 1.816 2.545 2.514 Official sources 500 600 700 1,030 1,890 2,000 Private sources 362 453 620 786 655 514 Short-term 2,934 3,875 0,830 8,184 8,385 7,746 Total debt service 639 967 1,731 1,668 1,696 1,737 Principal 232 345 474 510 700 700 Interest 407 622 1,257 1,158 996 1,037 Medium/long-term 55 79 110 160 191 200 Short-term 352 543 1,147 998 805 837 Lebanon Total debt 775 996 1,240 1,312 1,479 1.440 Medium/long-term 475 671 890 937 1,057 1,090 Official sources 93 114 119 118 128 140 Private sources 383 557 771 819 929 950 Short-term 300 325 350 375 422 350 Total debt service 157 191 304 288 306 304 Principal 88 100 175 169 190 189 Interest 69 91 129 120 115 116 Medium/long-term 46 71 74 75 78 Short-term 36 46 59 46 41 38 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 (continued) Lesotho Total debt 59 65 88 148 175 185 Medium/long-term 53 65 87 142 166 185 Official sources 44 52 63 102 120 135 Private sources 8 12 25 40 46 50 Short-term 6 0 1 6 9 0 Total debt service 3 5 7 18 20 26 Principal 2 4 5 9 11 16 Interest 1 2 3 9 10 Medium/long-term 1 2 8 10 Short-term Liberia Total debt 2,468 2,761 3,027 3,083 3,188 3,180 Medium/long-term 468 561 627 630 699 780 Official sources 313 399 473 487 531 600 Private sources 155 162 154 143 168 180 Short-term 2,000 2,200 2,400 2,453 2,489 2,400 Total debt service 315 346 430 333 270 322 Principal 52 16 9 19 10 33 Interest 263 331 421 314 260 289 Medium/long-term 23 23 18 15 21 30 Short-term 240 308 403 299 239 259 Libya Total debt 1,663 1,763 2,326 2,686 2,221 1,936 Medium/long-term 1,046 1,139 1,308 1,818 1,363 1,304 Official sources 960 1,070 1,250 1,682 1,256 1,200 Private sources 86 69 58 136 107 104 Short-term 617 624 1,018 868 632 Total debt service 898 1,012 1,245 1,166 1,284 1,266 Principal 757 840 966 900 1,100 1,100 Interest 141 172 279 266 184 166 Medium/long-term 67 85 108 160 102 98 Short-term 74 87 171 106 82 68 Madagascar Total debt 846 1,358 1,806 2,205 2,529 2,611 Medium/long-term 728 1,170 1,652 2,031 2,042 2,080 Official sources 403 631 890 1,046 1,064 1,080 Private sources 325 539 762 985 978 1,000 Short-term 118 188 154 174 487 531 Total debt service 71 123 128 184 364 352 Principal 32 56 66 100 203 170 Interest 39 67 62 84 161 182 Medium/long-term 25 40 36 63 114 125 Short-term 14 26 26 21 47 57 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a (continued) Total debt 650 828 793 796 784 815 Medium/long-term 566 747 760 726 719 750 Official sources 314 417 454 508 Private sources 252 330 306 218 172 150 Short-term 84 81 33 70 65 65 Total debt service 66 104 117 76 65 88 49 55 33 29 50 55 62 42 36 38 Medium/long-term 44 57 34 30 31 Short-term 11 6 7 Malaysia Total debt 5,335 6,275 8,327 12,068 16,188 19,003 Medium/long-term 3,845 4,375 6,627 10,176 12,880 16,200 Official sources 1,239 1,513 1,763 1,885 2,318 2,800 Private sources 2,606 2,862 4,864 8,291 10,562 13,400 Short-term 1,490 1,900 1,700 1,892 3,308 2,803 Total debt service 1,042 785 1,069 1,603 1,810 2,226 Principal 589 223 317 615 629 716 Interest 453 562 752 989 1,181 1,510 Medium/long-term 274 296 467 758 864 1,207 Short-term 179 266 286 231 318 303 44 65 81 Medium/long-term 7 37 42 51 Official sources 7 34 40 45 Private sources 0 3 2 6 Short-term 6 7 23 30 Total debt service 1 2 4 7 Principal 0 0 1 3 2 4 5 Medium/long-term 1 1 2 Short-term 1 3 3 Mali Total debt 741 892 1,031 996 1,091 1,140 Medium/long-term 561 742 829 940 1,025 1,050 Official sources 490 649 714 791 867 887 Private sources 71 93 115 149 158 163 Short-term 180 150 202 56 66 90 Total debt service 42 48 72 53 65 77 Principal 13 17 26 28 39 40 29 32 47 25 26 37 Medium/long-term 7 11 13 18 19 27 Short-term 22 21 34 7 6 10 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Mauritania Total debt 683 823 1,033 1,199 1,354 1,390 Medium/long-term 631 731 848 1,029 1,171 1,300 Official sources 490 598 749 924 1,046 1,150 Private sources 141 133 99 105 125 150 Short-term 52 92 185 170 183 90 Total debt service 72 43 85 60 54 74 Principal 51 17 36 16 14 24 Interest 22 26 49 45 40 50 Medium/long-term 15 13 18 24 23 40 Short-term 6 13 31 21 18 10 Mauritius Total debt 316 373 392 405 386 399 Medium/long-term 253 321 355 384 347 352 Official sources 131 160 202 217 229 250 Private sources 122 161 153 167 118 102 Short-term 63 52 37 21 39 47 Total debt service 33 48 63 70 93 78 Principal 11 19 22 33 61 47 Interest 22 30 41 37 32 30 Medium/long-term 15 22 35 35 28 25 Short-term 8 7 6 3 4 Mexico Total debt 49,454 60,956 87,441 92,103 99,026 101,484 Medium/long-term 37,674 43,506 53,496 58,470 66,732 85,000 Official sources 3,630 4,475 5,318 7,117 6,717 6,000 Private sources 34,045 39,031 48,178 51,353 60,015 79,000 Short-term 11,780 17,450 33,945 33,633 32,294 16,484 Total debt service 13,849 13,002 16,985 15,630 13,054 11,741 Principal 8,748 5,659 5,263 4,384 3,104 2,445 Interest 5,101 7,343 11,721 11,246 9,951 9,297 Medium/long-term 3,688 4,900 6,018 7,143 6,850 7,517 Short-term 1,414 2,443 5,703 4,103 3,100 1,780 Morocco Total debt 7,174 8,084 9,506 10,710 11,314 12,054 Medium/long-term 6,699 7548 8,382 9,823 10,277 11,000 Official sources 2,853 3,496 4,373 5,004 5,894 6,500 Private sources 3,846 4,051 4,009 4,818 4,384 4,500 Short-term 475 536 1,124 887 1,037 1,054 Total debt service 1,003 1,389 1,574 1,634 1,424 1,544 Principal 496 663 715 886 759 755 Interest 508 726 859 748 666 789 Medium/long-term 451 651 670 640 566 675 Short-term 57 75 189 108 100 114 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service Fl (continued) Mozambique Total debt 548 727 864 976 1,090 1,280 Medium/long-term 532 659 785 869 986 1,179 Official sources 332 439 564 675 800 1,000 Private sources 200 220 221 194 186 179 Short-term 16 68 79 107 104 101 Total debt service 43 84 107 155 154 186 Principal 7 25 29 66 70 100 Interest 36 59 78 89 84 86 Medium/long-term 34 49 65 76 74 75 Short-term 2 10 13 13 l0 11 Nepal Total debt 175 195 273 350 448 482 Medium/long-term 155 185 243 309 365 426 Official sources 123 174 232 297 346 400 Private sources 32 1 1 11 12 20 26 Short-term 20 10 30 41 83 56 Total debt service 16 9 13 14 22 24 Principal 10 5 5 5 9 11 Interest 6 4 8 9 13 13 Medium/long-term 4 3 3 4 5 7 Short-term 2 1 5 5 8 6 Nicaragua Total debt 1,531 2,153 2,710 3,461 3,991 4,667 Medium/long-term 1,190 1,693 2,239 2,829 3,417 4,020 Official sources 703 929 1,253 1.512 2,335 2,815 Private sources 487 764 987 1,317 1,082 1,205 Short-term 341 460 471 632 574 647 Total debt service 113 148 280 326 138 215 Principal 29 45 92 96 46 73 Interest 84 102 188 230 92 142 Medium/long-term 43 38 109 153 37 72 Short-term 41 64 79 77 55 70 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Niger Total debt 499 754 823 934 970 1,241 Medium/long-term 406 604 699 789 851 1,030 Official sources 200 271 377 386 452 580 Private sources 206 333 322 403 399 450 Short-term 93 150 124 145 119 211 Total debt service 57 111 111 182 154 161 Principal 27 55 48 103 86 84 Interest 30 57 63 79 68 76 Medium/long-term 19 36 43 62 56 54 Short-term 11 21 21 18 11 23 Nigeria Total debt 5,131 6,484 7,827 15,581 19,607 21,538 Medium/long-term 4,182 5,248 6,043 8,488 11,757 16,238 Official sources 936 982 993 1.153 1,819 2.100 Private sources 3,245 4,266 5,050 7,336 9,938 14,138 Short-term 949 1,236 1,784 7,093 7,850 5,300 Total debt service 558 964 1,247 2,293 2,794 5,291 Principal 187 253 391 658 1,066 3.077 Interest 371 711 856 1,635 1.728 2,214 Medium/long-term 257 538 556 770 974 1,641 Short-term 114 173 300 865 754 572 Oman Total debt 799 738 781 998 1,516 2,001 Medium/long-term 603 450 543 778 1,205 1,700 Official sources 463 330 335 304 272 250 Private sources 141 121 208 474 933 1,450 Short-term 196 288 238 220 311 301 Total debt service 232 237 160 156 193 252 Principal 186 157 86 92 105 142 Interest 47 80 74 64 88 110 Medium/long-term 23 40 34 37 58 77 Short-term 24 40 40 27 30 33 Pakistan Total debt 8,754 9,853 10,036 10,254 11,075 11,244 Medium/long-term 8,352 9,204 9,194 9,803 10,411 10,700 Official sources 7,636 8,213 8,301 8,735 8,921 9,200 Private sources 716 991 893 1,068 1,490 1,500 Short-term 402 649 842 451 664 544 Total debt service 675 813 787 662 1,342 1,196 Principal 387 449 422 348 914 783 Interest 288 364 365 314 428 414 Medium/long-term 240 273 224 259 365 355 Short-term 48 91 142 55 64 59 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a (continued) 5,100 5,307 6,342 6,450 Medium/long-term 2,100 2,307 2,464 2,958 3,178 3,350 Official sources 499 561 617 723 851 900 Private sources 1,602 1,746 1,847 2,235 2,327 2,450 Short-term 3,000 3,000 3,100 3,134 3,164 3,100 Total debt service 753 896 1,036 1,032 807 939 Principal 194 221 226 300 200 277 Interest 558 676 810 732 607 661 Medium/long-term 198 256 289 350 304 327 Short-term 360 420 521 382 335 Papua New Guinea Total debt 436 555 856 1,208 1,627 1,848 Medium/long-term 415 524 698 1,038 1,541 1,705 Official sources 159 213 240 269 338 400 Private sources 256 311 458 769 1,203 1,305 Short-term 21 31 158 170 86 143 Total debt service 55 70 114 195 268 301 Principal 25 34 35 81 142 149 Interest 30 35 80 114 126 152 Medium/long-term 28 31 53 94 118 137 - ~ Short-term 3 4 27 21 8 15 Paraguay Total debt 919 1,079 1,308 1,523 1,674 1,731 Medium/long-term 662 784 842 1,126 1,340 1,480 Official sources 374 411 460 559 708 750 Private sources 288 373 382 566 632 730 Short-term 257 295 466 397 334 251 Total debt service 115 166 210 169 142 208 Principal 54 80 95 69 57 85 Interest 61 86 115 101 85 124 Medium/long-term 30 45 37 52 53 97 Short-term 31 48 32 27 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Peru Total debt 8,570 8,999 10,230 11,588 11,933 12,700 Medium/long-term 7,072 7,415 7,717 8,572 9,866 10,876 Official sources 2,735 3,157 3,131 3,158 3,449 3,600 Private sources 4,337 4,257 4,585 5,414 6,416 7,276 Short-term 1,498 1,584 2,513 3,016 2,067 1,824 Total debt service 1,428 2,062 2,759 2,345 1,275 1,592 Principal 703 1,163 1,607 1,200 465 578 Interest 726 898 1,152 1,145 810 1,014 Medium/long-term 546 676 730 777 611 817 Short-term 180 222 422 368 198 197 Philippines Total debt 13,039 17,467 24,494 29,423 30,573 30,586 Medium/long-term 7,773 9,985 12,379 15,001 17,659 18,000 Official sources 2,328 _____2,802 3,494 3.865 4,824 5,000 Private sources 5,445 7,183 8,885 11,135 12.835 13,000 Short-term 5,266 7,482 12,115 14,422 12,914 12,586 Total debt service 2,273 2,442 4,141 4,492 4,036 4,073 Principal 1,101 729 1,057 1,495 1,510 1,400 Interest 1,172 1,713 3,084 2,997 2,526 2,673 Medium/long-term 540 666 1,049 1,237 1,286 1,314 Short-term 632 1,048 2,035 1,760 1,240 1,359 Qatar Total debt 713 659 799 663 696 615 Medium/long-term 479 568 478 348 285 280 Official sources 120 130 128 53 66 75 Private sources 359 438 350 295 219 205 Short-term 234 91 321 315 411 335 Total debt service 234 208 312 279 261 258 Principal 175 152 218 210 200 200 Interest 59 56 94 69 61 58 Medium/long-term 31 43 40 31 21 22 Short-term 28 13 54 38 40 36 Rwanda Total debt 152 193 209 247 267 310 Medium/long-term 127 161 180 212 237 265 Official sources 123 155 171 189 220 250 Private sources 4 5 9 23 17 15 Short-term 5 32 29 35 30 45 Total debt service 5 8 10 16 12 16 Principal I 1 3 8 6 7 Interest 4 6 7 8 7 9 Medium/long-term 1 2 3 4 4 4 Short-term 3 5 5 4 3 5 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Serviced (continued) Saudi Arabia Total debt 7,111 9,190 12,851 14,654 16,081 16,170 Medium/long-term 4,730 5,884 6,369 8,555 8,701 8,890 Official sources 2,530 3.484 4,441 6,334 6,641 6,800 Private sources 2,200 2,400 1,928 2,221 2,060 2,090 Short-term 2,381 3,306 6,482 6,099 7,380 7,280 Total debt service 3,616 4,576 6,617 7,382 6,799 6,869 Principal 3,027 3,672 5,000 5,885 5,438 5,372 Interest 589 904 1,617 1,497 1,361 1.497 Medium/long-term 303 441 528 753 652 711 Short-term 286 463 1,089 744 709 786 Senegal Total debt 1,123 1,252 1,403 1,817 2,319 2,517 Medium/long-term 860 955 1,074 1,528 2,055 2,300 Official sources 451 567 698 872 1,183 1,400 Private sources 409 388 376 656 872 900 Short-term 263 297 329 289 264 217 Total debt service 163 233 174 187 251 259 Principal 83 131 68 85 145 135 Interest 80 102 106 101 107 124 Medium/long-term 48 61 51 66 81 101 Short-term 32 42 55 35 25 23 Seychelles Total debt 477 89 45 72 76 83 :Medium/long-term 18 32 37 62 69 73 Official sources 13 25 28 31 36 38 Private sources 5 7 9 32 32 35 Short-term 459 57 8 10 7 10 Total debt service 56 10 4 10 12 15 Principal 1 I 2 5 8 10 Interest 56 9 2 4 4 6 Medium/long-term I 1 1 3 4 5 Short-term 55 8 1 1 I i Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Swaziland Total debt 182 219 195 225 259 276 Medium/long-term 174 --- 204 192 211 222 237 Official sources 118 142 144 159 175 200 Private sources 56 62 48 52 47 37 Short-term 8 15 3 14 37 39 Total debt service 14 25 31 35 34 Principal 14 18 19 18 Interest 11 13 16 17 Medium/long-term 10 12 12 Short-term 2 4 Syria Total debt 2,473 3,109 3,710 4,106 4,541 3,036 Medium/long-term 2,058 2,171 2,282 2,401 2,448 2,455 Official sources 1,830 1,960 2,068 2,146 2,178 2,200 Private sources 228 211 214 255 270 255 Short-term 415 938 1,428 1,705 2,093 581 Total debt service 333 447 564 564 540 426 Principal 208 233 261 272 257 267 Interest 125 213 303 293 283 159 Medium/long-term 76 82 63 85 82 97 Short-term 50 131 240 201 63 Taiwan Total debt 6,305 7,947 9,179 9,411 10,710 9,535 Medium/long-term 3,875 4,925 5,443 6,461 8,106 7,623 Official sources 1,446 1,724 2,000 2,828 4,268 4,500 Private sources 2,429 3,201 3,443 3,633 3,838 3,123 Short-term 2,430 3,022 3,736 2,950 2,604 1,912 Total debt service 1,174 1,574 1,903 1,935 1,914 2,157 Principal 545 707 697 831 904 1,150 Interest 629 867 1,206 1,104 1,010 1,007 Medium/long-term 337 444 579 744 760 800 Short-term 292 423 628 360 250 207 Tanzania Total debt 1,639 2,134 2,307 2,518 2,723 2,904 Medium/long-term 1.487 2,011 2,189 2,391 2,584 2,850 Official sources 1,180 1,577 1,735 1.891 2,097 2,350 Private sources 307 434 454 500 488 500 Short-term 152 123 118 127 139 54 Total debt service 84 93 94 79 79 81 Principal 38 39 40 27 30 35 Interest 45 54 53 51 49 46 Medium/long-term 27 37 36 36 40 Short-term 18 17 16 13 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a (continued) Thailand Total debt 7,731 8,677 10,407 11,385 13,184 14,574 Medium/long-term 4,071 5,802 7,286 8,516 9,731 11,100 Official sources 1,666 2,310 2,862 3,493 4,312 5,100 Private sources 2,405 3,492 4,423 5,023 5,419 6,000 Short-term 3,660 2,875 3,121 2,869 3,453 3,474 Total debt service 1,407 1,650 1,850 1,850 2,102 2,613 Principal 640 776 620 797 1,014 1,379 Interest 767 874 1,229 1,053 1,088 1,234 Medium/long-term 328 472 705 703 756 859 Short-term 439 403 524 350 332 375 Pogo Total debt 1,005 1,069 1,040 1.049 1,205 1,170 Medium/long-term 924 974 959 973 1,167 1,146 Official sources 402 508 566 566 646 620 Private sources 522 465 394 407 521 526 Short-term 81 95 81 76 38 24 Total debt service 63 91 90 90 164 201 Principal 38 41 47 44 100 116 Interest 25 50 44 46 64 85 Medium/long-term 16 37 30 37 61 82 Short-terin 10 13 14 9 4 3 Trinidad and Tobago Total debt 672 885 1,249 1,427 1,578 1,600 Medium/long-term 531 799 1.007 1,155 1,155 1.414 Official sources 1 14 203 254 262 237 230 Private sources 416 596 754 894 918 1,184 Short-term 141 86 242 272 423 186 Total debt service 84 276 214 222 310 296 Principal 23 205 70 82 140 139 Interest 62 71 145 140 170 157 Medium/long-term 45 59 104 107 130 137 Short-term 17 12 41 33 41 20 Tunisia Total debt 3,795 4,191 4,288 4,829 5,330 5,607 Medium/long-term 3,437 3,719 3,788 4,278 4,718 5,000 Official sources 1,837 2,020 2.131 2,330 2,519 2,700 Private sources 1,600 1,699 1,657 1,947 2,199 2,300 Short-tern 358 472 500 551 612 607 Total debt service 480 632 753 753 974 1,031 Principal 242 308 419 429 633 659 interest '38 323 334 324 341 372 Medium/long-term 195 257 250 257 252 307 Shurt-term 43 66 84 67 59 66 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Sierra Leone Total debt 396 471 531 573 600 616 Medium/long-term 361 392 396 420 414 510 Official sources 170 241 237 270 272 330 Private sources 191 151 159 151 143 180 Short-term 35 79 135 153 186 106 --------- Total debt service 64 64 80 44 45 53 Principal 43 41 43 18 19 27 Interest 20 23 37 26 26 26 Medium/long-term 16 12 14 7 8 14 Short-term 4 11 23 19 18 Singapore Total debt 2,618 2,695 2,918 3,613 3,150 2,950 Medium/long-term 1,718 1,695 1,818 2,550 2,238 2,050 Official sources 527 562 513 473 426 400 Private sources 1,191 1,133 1,305 2,078 1,812 1,650 Short-term 900 1,000 1,100 1,063 912 900 Total debt service 456 510 555 679 723 665 Principal 221 231 191 315 432 369 Interest 235 279 364 364 291 296 Medium/long-term 127 139 180 234 204 199 Short-term 108 140 185 130 88 97 Solomon Islands Total debt 4 8 77 Medium/long-term 4 8 70 Official sources 4 8 30 Private sources 0 0 40 Short-term 0 0 7 Total debt service 0 0 11 Principal 0 0 6 Interest 0 0 5 Medium/long-term 4 Short-term Somalia Total debt 729 799 988 1,139 1,306 1,429 Medium/long-term 679 749 972 1,109 1.257 1,360 Official sources 596 714 843 915 986 1,090 Private sources 83 35 129 194 271 270 Short-term 50 50 16 30 49 69 Total debt service 29 25 50 33 61 87 Principal 15 12 43 16 37 49 Interest 14 12 6 17 24 37 Medium/long-term 8 5 13 19 30 Short-term 4 5 8 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service a (continued) South Korea Total debt 28,281 32,136 39,199 42,401 47,853 Medium/long-term 15,484 17,580 20,036 23,851 26,570 31,600 Official sources 5,760 6,574 7,454 8,401 9,384 10,000 Private sources 9,724 11,006 12,582 15,450 17,186 21,600 Short-term 6,289 10,701 12,100 15,348 15,831 16,253 Total debt service 3,807 4,613 5,847 6,576 6,505 8,071 Principal 1,997 1,675 1,995 2,391 2,784 3,534 Interest 1,810 2,937 3,852 4,185 3,721 4,537 Medium/long-term 1,055 1,439 1,819 2,312 2,201 2,782 Short-term 755 1,498 2,033 1,873 1,520 1,755 Sri Lanka Total debt 1,558 1,798 2,049 2,664 2,991 2,893 Medium/long-term 1,193 1,415 1,675 1,967 2,277 2,490 Official sources 1,047 1,202 1,291 1,421 1,616 1,795 Private sources 146 213 385 546 661 695 Short-term 365 383 374 697 714 403 Total debt service 147 158 175 224 259 265 Principal 69 67 59 70 98 128 Interest 78 91 116 154 161 137 Medium/long-term 35 37 54 69 92 94 Short-term 44 54 63 85 69 44 Sudan Total debt 3,957 4,603 6,029 7,473 7,659 7,915 Medium/long-term 3,506 4,008 5,104 6,632 7,078 7,300 Official sources 2,789 3,189 3,685 5,415 5,677 6,000 Private sources 717 819 1,419 1,217 1,401 1,300 Short-term 451 595 925 841 581 615 Total debt service 132 193 314 259 283 262 Principal 33 62 63 132 153 115 Interest 99 131 251 126 130 147 Medium/long-term 45 48 96 24 74 81 Short-term 54 83 155 103 Suriname Total debt 98 31 96 Medium/long-term 31 15 68 Official sources 4 3 3 27 12 65 Short-term 67 16 28 Total debt service 11 5 8 Principal 1 1 1 Interest 10 4 7 Medium/long-term 2 2 2 Short-term Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Uganda Total debt 566 645 597 637 715 785 Medium/long-term 504 612 564 602 703 750 Official sources 399 47.5 429 499 543 600 Private sources 105 137 135 103 160 150 Short-term 62 33 33 35 1 _ 35 Total debt service 22 29 74 69 109 116 Principal 12 21 64 55 83 82 Interest 10 8 11 14 25 34 Medium/long-term 3 3 = 10 2d 30 Short-term 7 5 6 4 4 United Arab Emirates Total debt 6,078 5,349 8.530 9.715 9,550 7,920 Medium/long-term 2,900 1,660 2,353 2.1 39 2.07 7 1.564 Official sources 200 150 100 75 70 60 Private sources 2,700 1,510 2,253 2,064 2,007 1,504 Short-term 3.178 3,689 6,177 7.576 7.473 6.356 Total debt service 1,393 1,867 2,666 1,916 1,572 1,511 Principal 827 1,225 1,433 804 700 700 Interest 566 642 1,233 1.112 872 811 Medium/long-term 185 125 195 188 155 125 Short-term 381 517 1,038 924 717 686 Uruguay Total debt 1,395 1,598 2,060 3,102 3,480 3,671 Medium/long-term 1,137 1,339 1,691 2.095 2.857 2,928 Official sources 298 334 326 365 382 400 Private sources 839 1,005 1,365 1,730 2,475 2,528 Short-term 258 259 369 1,007 623 743 Total debt service 162 234 251 399 381 452 Principal 58 93 63 95 105 123 Interest 103 141 188 304 277 329 Medium/long-term 72 105 126 181 217 249 Short-term 31 36 62 123 60 80 Vanuatu Total debt 0 5 4 14 22 28 Medium/long-term 0 4 II 16 22 Official sources 0 4 3 4 3 5 Private sources 0 0 0 7 13 17 Short-term 0 1 1 3 6 6 Total debt service 0 1 1 2 5 5 Principal 0 0 0 1 3 3 Interest 0 0 0 1 2 2 Medium long-term 0 0 0 1 2 Short-term 0 0 0 0 I 1 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Table D-4 Aggregate LDC Debt and Debt Service (continued) Venezuela Total debt 23,673 Medium/long-term 12,320 Official sources 859 Private sources 11,461 Short-term 1 1.353 Total debt service 3,597 Principal 1,345 Interest 2,252 Medium/long-term 889 Short-term 1,362 Western Samoa Total debt 48 Medium/long-term 48 Official sources 38 Private sources 10 Short-term 0 Total debt service 4 Principal 2 Interest 2 Medium/long-term 2 Short-term 0 Yemen Arab Republic Total debt 767 Medium/long-term 627 Official sources 480 Private sources 148 Short-term 140 Total debt service 70 Principal 38 Interest 32 Medium/long-term 15 Short-term 17 Yemen PDR Total debt 500 Medium/long-term 427 Official sources 403 Private sources 24 Short-term 73 Total debt service 23 Principal 10 Interest 13 Medium/long-term 4 Short-term 9 27,024 30,298 14,247 15,852 829 860 13,418 14,992 12,777 14,446 5,652 6,162 2,290 1,999 3,362 4,163 1.573 1.736 1,789 2,427 2 2 0 1,069 1,335 984 1,223 874 1,094 110 128 85 112 56 114 32 76 24 38 13 19 12 19 648 902 549 852 499 766 50 86 99 50 42 72 17 50 25 21 11 13 14 8 33,719 19,623 800 18,822 14,096 6,938 2,603 4;335 2,615 1,720 34,326 20,064 683 19,381 14,262 5,233 1,457 3,776 2,407 1,369 64 61 58 3 33,000 18,461 473 17,988 14,539 6,407 2,971 3.436 1,866 1,570 64 64 61 3 1 1 0 1,572 1,987 2,159 1,438 1,781 1,986 1,291 1,556 1,750 146 225 236 134 206 173 103 113 127 66 66 72 36 47 54 20 27 36 16 20 19 1,113 1,447 1,623 1,073 1,361 1,500 995 1,263 1,400 78 98 100 40 86 123 60 78 95 41 49 56 19 29 40 14 21 27 5 8 13 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Zaire Total debt 4,374 4,505 4,560 4,554 4,852 5,09() Medium/long-term 4,068 4,253 4,269 4,349 4,656 +.''39 Official sources 1,892 2,603 2,808 2,808 3,152 3,740 Private sources 2,176 1,651 1,462 1,541 1.504 1, i 49 Short-term 306 252 291 205 196 201 Total debt service 201 416 282 246 348 319 Principal 69 178 94 122 185 150 Interest 131 238 188 1 24 164 169 Medium/long-term 95 203 139 99 145 48 Short-term 37 35 49 25 19 2-2 Zambia Total debt 2,477 3,050 3,068 3,512 3,579 3,755 Medium/long-term 2,106 2.363 2.488 2.699 2,929 J 80 Official sources 1,254 1,550 1.638 1.737 2034 2,300 Private sources 852 813 850 962 895 880 Short-term 371 687 580 813 650 575 Total debt service 365 432 450 363 282 353 Principal 215 212 236 151 115 i?8 Interest 150 220 215 212 167 22o Medium/long-term 106 124 117 113 105 67 Short-term 45 96 97 99 62 62 Zimbabwe Total debt 558 773 1,326 1,853 2,047 2,179 Medium/long-term 524 697 936 1,312 1.598 1.850 Official sources 39 103 209 346 423 500 Private sources 485 594 727 966 1,176 1,= SI) Short-term 34 76 390 541 449 329 Total debt service 19 55 139 229 240 281 Principal 7 34 41 65 84 11I Interest 11 20 98 164 156 170 Medium/long-term 7 10 32 98 113 134 Short-term 4 11 66 66 43 36 Because of rounding, components may not add to totals shown. Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4 Confidential Confidential Sanitized Copy Approved for Release 2011/03/16: CIA-RDP97R00694R000500100001-4