Present value of external debt (% of GNI) - Europe


Description: The map below shows how Present value of external debt (% of GNI) varies by country in Europe. The shade of the country corresponds to the magnitude of the indicator. The darker the shade, the higher the value. The country with the highest value in the region is Montenegro, with a value of 56.32. The country with the lowest value in the region is Moldova, with a value of 12.43.

Source: World Bank, International Debt Statistics.

See also: Country ranking, Time series comparison

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


Periodicity: Annual