世界发展银行-Debt-Report-2020-Edition-I_15页_1mb (5)

DEBTREPORT2020EDITIONIJanuary2020--PublicDisclosureAuthorizedPublicDisclosureAuthorizedPublicDisclosureAuthorizedPublicDisclosureAuthorized用户上传限个人学习使用百万免费报告天天更新手机商店搜索研报客app电脑网页版:•Complementthesummaryoverviewofborrowingtrendsin122low-andmiddle-incomecountriespresentedinInternationalDebtStatistics(IDS2020),publishedinOctober2019withregionalandcountryspecificanalysesonthecompositionandcharacteristicsofexternaldebtstocksandflows.Theanalyseswillbeunderpinnedbythedetailedloan-by-loandataonstocks,transactions(commitments,disbursementsanddebtservicepayments)andloantermscapturedbytheWorldBankDebtorReportingSystem(DRS);•Drawfromthehigh-frequency,QuarterlyExternalDebtStatistics(QEDS)andquarterlyPublicDebtStatistics(PSDS)databasestoprovideuserswithsynthesesofemergenttrendsinexternalandpublicdebt,includingborrowingpatternsandcurrentdebtlevelsinbothhigh-incomecountriesandlow-andmiddle-incomecountries;•Provideuserswithinformationbriefsoncurrentissuesandongoinginitiativesaimedatimprovingexternalandpublicdebtmeasurementandmonitoring,fillingdatagaps,andenhancingthecoverageandharmonizationofinternationaldatasetsandrelateddatadissemination.DebtReportEditionIpresentsanoverviewoftheevolutionofexternaldebtstocksandnetfinancialflows(debtandequity)fromtheregionalperspectiveanddrawsoutthemainmessagesfromtheregionalandcountryspecificdataavailabletousersat(FDI)$469billionwerelittlechangedfrom2017.Chinawastheprincipalrecipientofnetfinancialflowstolow-andmiddle-incomecountriesin2018,$472billion,equivalentto46percent.AttheregionallevelcountriesinLatinAmericanandtheCaribbean(LAC)accountedforthelargestshare$272billion(27percent),followedbycountriesinEastAsiaandPacific(EAP),otherthanChina,$115billion(11percent).Debtinflowssurpassedequityinflowsinallregionsin2018exceptSouthAsia(SAS)whereequityinflowsaccountedfor60percentoftotalinflowsandEuropeandCentralAsia(ECA)wheredebtflowswerenegative(-$11billion).Figure1:NetFinancialFlows2018–RegionalDistribution1US$(billion)Source:WorldBankDebtorReportingSystem,InternationalMonetaryFundandUnitedNationsConferenceonTradeandDevelopment(UNCTAD)Totalexternaldebtstocksoflow-andmiddle-incomecountriesrose5.3percentin2018to$7.8trillion,almosthalftherateofaccumulation(10.4percent)recordedin2017.Theincreaseindebtstocksresultedfromnetdebtinflowsof$516billionandvaluationchangesinyear-on-yearexchangeratesinrelationtotheU.S.dollar(aroundhalftheexternaldebtoflow-andmiddle-incomecountriesisdenominatedincurrenciesotherthantheU.S.dollar).The2018increaseinexternaldebtstockwasdominatedbyChina:itaccountedforone-quarterofthecombinedend-2018externaldebtstockoflow-Figure2:ChangeinExternalDebtStock2017-2018-RegionalDistributionUS$(billion)Source:WorldBankDebtorReportingSystem,InternationalMonetaryFundandBankforInternationalSettlementsandmiddle-incomecountriescombined.China’sexternaldebtstockrose15percentin2018withshort-termdebtrising18percentandlong-termdebtby10percent.Outcomesattheregionallevelweredivergent.CountriesintheMiddleEastandNorthAfrica(MNA)regionrecordedthefastestaccumulationinexternaldebtstocks,onaverage7percent,propelledbythe15percentriseinEgypt,theregion’sbiggestborrower.Conversely,inEuropeandCentralAsiaexternaldebtstocksfell,onaverage4.8percent,fromthe2017leveldueinlargeparttothesharpcontractionintheRussia’sexternaldebtstock.1SSAstandsforSub-SaharanAfrica.-100-50050100150200250300ChinaEAPexcl.ChinaECALACMNASASSSADebtEquity0500100015002000ChinaEAPexcl.ChinaECALACMNASASSSA201820173EastAsiaandPacificNetfinancialflowstotaled$587billionin2018,a5percentdeclinefromtheprioryearwithincreasedequityinflowslargelyoffsettingacontractioninnetdebtinflows.ButoutcomesweredictatedbyChinaand,onaverage,forothercountriesintheregion,netfinancialinflowsfellonaverage12percentreflectingadownturninbothdebtandequityinflows.Table1:ExternalDebtStockandNetFinancialFlows,EastAsiaandPacific,2009-2018US$(billion)2009201020112012201320142015201620172018Externaldebtstocks8221,1831,5461,7282,0912,4352,0002,1172,4912,794Netfinancialflows,debtandequity274662657468720606-104274621587PercentofGNI(%)487464-1244NetDebtInflows83358367174382297-36853391323Long-term1551100130901386370135138Officialcreditors5233242335Bilateral-1-21002-3-100Multilateral6423236445WorldBank(IBRDandIDA)2311223222IMF0000000000Oth