Servicing of external public debt

External debt and debt servicing costs had also risen.

Debt servicing payments contribute to poverty when public revenue is diverted from productive sector expenditure, such as education, health and physical infrastructure to debt servicing.

Payment for debt servicing represents a negative flow of resources.

This sharp devaluation increased further the cost of debt servicing and the debt to GDP ratio.

Nevertheless, external debt and debt servicing problems persisted, particularly in the poorest and heavily indebted countries.

This led to increased concern about the levels of internal debt and total debt and the implications for servicing the debt.

Nevertheless, external debt and debt servicing problems have persisted, particularly for the poorest and most heavily indebted countries.

There was a need for effective, equitable, durable and development oriented solutions to external debt and debt servicing problems.

Indeed, nearly a third of our financial resources are devoted to debt servicing.

Debt servicing problems of middle income countries should continue to be addressed effectively.

Despite those increasingly generous terms, the overall reduction in debt servicing had been less than the debt relief ratios indicated.

52. Effective, fair, and lasting solutions must be found for the external debt and debt servicing problems of developing countries.

All of the previous speakers had mentioned the external debt and debt servicing as one of the root causes of underdevelopment.

In order to make the net debt reduction sufficiently large, however, the HIPC initiative requires deep reductions in the debt servicing owed to bilateral official creditors, which some creditor countries have resisted, and it introduces special processes for reducing the servicing of multilateral debt.

Of particular concern is the increasing share of multilateral obligations in the overall debt stock and debt servicing of least developed countries.

The debt servicing burden therefore continued to be one of Nicaragua apos s main problems.

This could affect the assessment of the government s debt servicing capacity and foreign assistance requirements.

Unlike other Latin American, Caribbean and Central American countries, Guatemala's external debt situation is stable, with normal debt servicing loads and external debt indicators in the moderate range.

(v) systematically link debt repayment and debt servicing by commodity dependent developing countries to adverse movements in prices of commodity exports and imports

We would like to express our gratitude to those donor countries which have provided debt and debt servicing relief to the affected countries.

Noting the situation in some creditor countries with economies in transition in addressing the external debt and debt servicing problems of developing countries,

Noting the situation in some creditor countries with economies in transition in addressing the external debt and debt servicing problems of developing countries,

Debt and debt servicing are steadily impoverishing the peoples concerned more and more every day, systematically preventing them from exercising their basic rights.

2. Debt service problems of middle and low income countries High social cost incurred in the efforts to fulfil commitments on debt servicing

Thus debt service is a significant item in affecting net resource flows to Africa, and Africa s debt servicing difficulties have long been recognized.

Concerned that many developing countries continue to struggle for a durable solution to their serious debt problems, where continuing debt and debt servicing obligations adversely affect their sustainable development,

In some countries, debt servicing has strained valuable resources that could otherwise be channelled to development.

In 2004 the ratio of debt servicing to exports was 10.0 per cent (see figure below).

53. High interest rates further worsened the debt servicing burden for many small island developing countries.

Emphasizing the importance of finding a durable solution for those developing countries that have difficulties in meeting their external debt and debt servicing obligations,

Taking note with great concern of the debt burden of many African countries, as debt servicing continues to drain the limited resources for development,

Indeed, increased debt servicing obligations resulting from higher interest rates, along with weakening export prospects, ran the risk of reproducing an unsustainable debt burden.

Thus, for example, compensation in the form of cancellation of debt and debt servicing could partly repair the injury caused by slavery and colonization.

In view of their debt servicing difficulties, African countries must rely on non debt creating flows, especially ODA and (private) foreign direct investment (FDI).

External debt servicing was a serious challenge to developing countries and economies in transition, especially in Africa.

The benefits of globalization were not evenly shared and, in several instances, debt servicing requirements were onerous.

In that regard, the failure of the various debt relief measures to alleviate such debt burden called for an effective, equitable, development oriented and durable solution to the external debt and debt servicing problems of those countries.

The heavy debt burden and debt servicing had made it difficult for Jordan to cope with the rapid changes in the world with its limited resources.

With regard to the debt burden adjustment, economic development in many developing countries had been adversely affected by heavy debt burdens and debt servicing, and that had greatly hampered their capacity to pay.

The debt stock and its servicing burden remained exceptionally high for the least developed countries, particularly in Africa.

There should be wider use and development of existing mechanisms to reduce external debt and its servicing costs.

Unless sufficient relief is granted, regular and continuous servicing of the growing debt stock will become increasingly problematic.

However, much more needed to be done to assist countries that had reached the completion point but continued to experience severe debt sustainability and debt servicing problems.

This reality, added to the foreign debt and debt servicing, represents serious difficulties affecting the degree of fulfilment of the Government apos s obligations under the Convention.