For starters, when it comes to public debt, there is a big difference between the gross and net figures. While Japan s gross public debt, for example, is a massive 246 of GDP, the net figure, accounting for intra government debts, is 127 of GDP.

Net total debt increased to 11.4 billion.

2. Net transfer of financial resources of net debtor developing countries, 1987 1997

Net excess (shortfall) of income over expenditure

Debt cancellation did not necessarily lead to net flows.

Figure 2 shows the breakdown between new (net) transfers and debt forgiveness.

Debt sustainability indicators for Haiti are mixed.

Now we've got a chance to liquidate and start over with a clean slate.

An amount of 3,277,774 net saving arises from the cancellation of 2002 2003 obligations.

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.

This suggests that net private borrowing using debt instruments has been rather small over this recent period.

At HIPC completion point in June 1999, when formal cancellation is to take place, Mozambique s total debt stock in net present value terms is to fall from over US 7 billion to US 1.1 billion.

25. The financial report and accounts reflect UNICEF income, expenditure, assets and liabilities, including the net operating income, assets and liabilities of the greeting card and related operations.

12. Since it is important to examine the financial composition of net transfers as well as the overall levels, data with the requisite detail have been brought together for 105 net debtor developing countries.

In accordance with the Staff Regulations and Rules of the Tribunal the contingent liability reflected above is based on net remuneration.

It is calculated to receive debt relief equivalent to about 345 million (in net present value terms) which is projected to reduce its debt to export ratio to 202 per cent.

In 2003 NPV terms, the outstanding debt stock of the 27 countries was expected to fall from about 80 billion to 26 billion after the delivery of traditional debt relief by bilateral creditors, assistance under the HIPC initiative and additional bilateral forgiveness.

Holders of both state and federal bonds were thus offered a basket of long dated bonds, some with an interest rate of 3 , and others with 6 (with a ten year grace period). The basket was designed in such a way as to result in an average debt service cost of 4 .

2 Net assets is less than 50 of the paid in capital or contingent liability reaches 50

Burkina Faso is expected to receive assistance of about 115 million (net present value terms), representing a debt reduction of about 14 per cent.9

21 Debt buy backs involve buying back the claims at the net present value of the remaining cash flows the net present value is calculated by discounting cash flows at risk free rate plus a market referenced common country risk spread.

The financial report and accounts reflect UNICEF income, expenditure, assets and liabilities, including the net operating income, assets and liabilities of PSD.

In the first quarter of 1998, net public debt increased by 4 per cent to reach US 15 billion, of which 17 per cent was foreign debt (US 2.5 billion or about 16 per cent of GDP).

In April 2004, Ethiopia reached the completion point under the enhanced HIPC Initiative, and in May 2004 it benefited from a 90 per cent reduction in the net present value of its debt stock, thus reducing the country's debt owed to Paris Club creditors from US 1,087 million to US 153 million in net present value terms.

6 Defined as net resource flows minus the interest payments on long term debt and profit remittances on account of FDI.

External debt rose by 574 million in 1996 to 1,856 million (18 per cent of net total public debt).

Debt servicing diverts resources from development, contributing to the net transfer of resources from the poor to the rich.

Total expenditure for the same period amounted to 492,556,300 gross ( 486,716,800 net), inclusive of unliquidated obligations in the amount of 18,367,800.

Auto purge jobs

The net contingent liability for staff benefits as at 31 December 2004 is estimated at 72,131,000 consisting of the following

Prior to the crisis, banks had often been net sellers of foreign government bonds, but they significantly increased their purchases during 2008 2009. With the onset of the European sovereign debt crisis in 2010, banks appetite for public debt fell again.

10. Although the overall debt situation of net debtor developing countries as a group had continued to improve in 1996, a significant number of developing countries, mostly low income African countries, continued to suffer from a heavy debt burden.

(q) quot Unliquidated obligation quot shall mean an obligation or that portion of an obligation which is not yet disbursed.

But you will be better off. This may be bad for the distribution of wealth and income, because it will enrich the creditor at the expense of the debtor, but there will be no net burden on future generations.

It is estimated that the debt export ratio in net present value terms is high (187 per cent), suggesting that Haiti's debt is unsustainable.

On the debt burden, we applaud debt relief for the highly indebted poor countries.

Where the security right at issue (which secures the debtor's obligation) is granted by the debtor, the term debtor also refers to the grantor.

The law should specify that a security right may secure all types of obligation, including future, conditional and fluctuating obligations.

A number of official bilateral creditors have expressed their intention to go beyond the agreed cancellation, and to grant additional relief on a bilateral basis, estimated to be worth approximately US 336 million in net present value terms.

1. Reporting obligations on personal debts or liabilities

Suddenly, the world turned upside down rich countries were running large deficits and, in some cases, tipping from net creditor status to net indebtedness, while poor countries were running surpluses and accumulating large stocks of external assets, including financial claims on Western economies.

Options for lower debt burdens on Governments of heavily indebted developing countries include debt cancellation and debt swaps for sustainable development.

Debt sustainability and debt relief

Debt

Debt