SDDS/QEDS Metadata

Country

Notes

1

Argentina

The information contained in "Other Sectors" (based on the results of the Central Bank Survey "A 3602") is provisional and subject to revision. "Other Sectors - Short term- Other debt liabilities - Other" includes intercompany debt and debt with purveyors."Other sectors - Long Term- Other debt liabilities" includes intercompany debt and debt with purveyors. The breakdown required in "Direct Investment Intercompany Lending" is not available. Table 3. The breakdown required in "Banks", "Other Sectors" and in "Direct Investment: Intercompany lending" is not available. Table 1.4. The breakdown required in "Other Sectors" and in "Direct Investment Intercompany Lending" is not available. Table 2.1 The breakdown required in "Direct Investment Intercompany Lending" is not available so it is included in "Other Sectors".

2

Australia 

Discrepancies may occur between data in this table and the same aggregates from other sources, and between sums of component items and totals due to rounding. In the country report "na" stands for not available , "np"- confidential. Table 1.2 "Total" in Table 1.2 excluded "Households and nonprofit institutions serving households" (NPISH). Table 1.3 "Total" excluded "Public Guaranteed Private Sector External Debt".

An amount of $101m for 2006Q1 for Other financial corporations, Short term, Trade credits as shown in the table is excluded from Table 1.2 as there is no category under Nonbank Financial Corporations for recording trade credits. Also note that the Totals for Table 1 do not add up due to the suppression of data for Other sectors, Long-term, Trade credits and Other debt liabilities.

3

Bolivia

4

Canada

Data are revised four years back in Q1 of each year.

5

Chile

Tables 1, 2, 1.2, 1.3, 3.1 3/ Nominal value, original maturity. Tradable external debt instruments are reported at nominal value. 4/ Excluding accrued interest.

6

Croatia

Trade credits are covered by a survey with the maturity of longer then 180 days (till July 2001 it was 90 days, and till December 31, 2002 150 days). 2) Interest payments are projected at the interest rate prevailing at the time of signing debt contract therefore not reflecting market interest rates movements. 3) Interest on arrears are not calculated 4) Currency composition of the position Currency and Deposits, and REPO Agreements (included under short term Credits) is collected quarterly and subsequently applied fort the next two months. Table 1.1 Traded debt position on market price is not available. Table 2.1 Data on financial derivatives are not available. This is not yet a significant instrument in Croatia.

7

Czech Republic

Tradable debt instruments are reported at market value. 2007Q1, 2007Q2, 2007Q3 and 2007Q4 are revised data;  2008Q1 - preliminary data.

8

Ecuador

Tables 1, 1.2 , 1.3 Tradable debt instruments are reported at nominal value.

9

Estonia

3/ Tradable debt instruments are reported at market value. 7/ More detailed breakdown of other sectors is not available.

All Target-related bilateral claims and liabilities are netted at the end of each day within the ESCB in such a way that each participant would hold only one single (net) position vis-a-vis the ECB. The net positions and changes in the Target balances of the Eurosystem vis-a-vis the NCBs of non-euro area member states are recorded under "other investment/liabilities" of the sector Monetary authorities as "loans, currency and deposits" within the euro area i.i.p. and b.o.p.

11

Germany

The historical external debt data in the tables are not consistent with what is published on the NSDP and the Bundesbank SDDS Homepage for the quarters before Q4 2003, since the data contain revisions for periods prior to end of 2003.

12

Hong Kong, China

Figures are subject to revision later on. The indicator ".." under "Monetary Authorities, Short-term, Money market instruments" and "Monetary Authorities, Long-term, Bonds and Notes" refers to an insignificant value, while ".." elsewhere means data not available. Zero might also refer to an insignificant value in some cases.

13

Hungary 

Tables 1, 2 3/ Tradable debt instruments are valued at nominal value. 4/ The periodic interest costs that have accrued and not yet payable are included in 2007-2008. Long-term domestic currency debt includes direct investment: other capital. Table 3 Breakedown of medium-long term debt including bonds. Only guaranteed loans of other sectors. One year or less=2005, Over one year to two years=2006, Over two years=2007 and thereafter. Table 1.3 Public Sector External Debt=General Government+Monetary Authorities. 3/ Tradable debt instruments are reported at nominal value. 4/ The periodic interest costs that have accrued and not yet payable are included in 2007-2008. Data on Publicly Guaranteed Private Sector External Debt is available at the end of April 2008.

The SDDS data and the data reported to the World Bank's QEDS show differences because in the data reported to the QEDS are included data for SPE's and in the SDDS publication data for these companies are excluded.

The MNB publishes two sets of external sector data on it's website: 1/ data are published including SPE's and 2/ data are published excluding SPE's as well.

Up to 2005 two kinds of off shore companies were distinguished for the purposes of accounting in the balance of payments statistics. One of them included companies functioning as passive financial intermediaries or pass-through companies, which generally promptly allocated funds from equity investment as loan to non-residents. The net cash-flow of these companies were recorded as direct investment. The other group comprised companies engaged in actual real economic activity. In their case transactions in the service or capital account - related to the purchase/sale of a non-produced, non-financial asset - were recorded in the balance of payments.

As a result of changes in legal environment the category of off-shore companies were ceased at 31 December 2005. Since January 2006 according to the international standards the MNB compiles the overall BOP statistics which include data for SPE companies (the former pass-through companies). But the MNB does not estimate reinvested earnings and dividends for this part of the companies, only the yearly statistics will include their reported data. In order to compare with the data published earlier the MNB compiles the BOP statistics excluding SPE companies as well. Since 2006 the MNB excludes the former off-shore companies engaged in actual real economic activity from the group of SPE companies.

14

FII Investment in debt instruments, which was earlier included under long term, is now appropriately classified under long-term and short-term. Suppliers' Credits up to 180 days are also now included under short-term debt. These revisions have been made in India's external debt statistics for the first time in the data reported for the quarter ended-September 2007 with the backward revision upto March 2005.

15

From 2005Q1 to 2006Q2 and in 2007Q1 and 2007Q2 Direct Investment: Inter-company Lending with sub-components Debt liabilities to affiliated enterprises and Debt liabilities to direct investors are already included in the Other sector’s data. 

16

Ireland

These figures are subject to revision when the IIP results are produced. All currency and deposits are included indistinguishably with short-term loans. The figures under the category "Banks" relate to licensed credit institutions and qualifying money market funds which are categorized by the ECB as Monetary Financial Institutions. Data entered under short-term 'loans' heading for  Monetary Authorities, Banks and Other Sectors is a total for loans and deposits.

17

Israel

Table 1. Government sector "loans" also includes non-negotiable State of Israel Bonds. Table 3. 0-3 months for "other sectors" includes trade credits.

18

Italy

For General Government and Other sectors listed securities are valued at the market price; unlisted securities are valued using stock exchange indexes. For the Monetary Authorities sector listed securities are valued at the market price; unlisted securities are valued at the fair value or at the historical cost. For Banks listed and unpledged securities are valued at the market price; all the other securities are valued at the fair value or at the historical cost.

19

Japan

Each item, quoted from published data, may not add up to the total due to rounding. 8/ Data on arrears are unavailable.

20

Kazakhstan

At this time, external debt includes only deposits from special assignment enterprises, which are accounted for separately. The country does not identify separately the stocks of non-bank financial institutions at this time, but will provide it later. Tradable debt instruments government securities are reported at nominal value, the rest - at market value. Table 2 and 2.1. Currency structure of gross external debt is formed on the basis of monitoring the agreements of non-guaranteed external debt, which does not cover entire external debt of particular sector. Because of this, the total gross external foreign currency debt indicated in Table 2.1 is less than the amount indicated in Table 2. In Table 2.1 Total Intercompany lending debt is included in debt reported in the US dollars (in connection with the absence of further information). Information on nonresident deposits in the banks is based on local currency, freely converted currency and other currencies. Therefore, there is no possibility to divide deposits in the banks into US dollars, Euro and Yen (all these currencies are related to freely converted currencies). In this table, deposits in other forms of currencies are included (in the Other currency).

21

Korea

Table 1.1. All figures are reported at their market value. (Table is not reported due to practical difficulties). Table 1.2 Other currency account identifies Korean Won. NPISH figures are included in the Nonbank financial corporations' and Nofinancial corporations'. Those are not derived for practical difficulties. Table 3. 1 The country compiles statistics based on principal and original maturity.

22

Kyrgyz Republic

There are no tradable instruments owed to nonresidents; The part of the data under "Banks" and "Other Sectors" are debt liabilities to direct investors.Table 2 Data for Other sector and Intercompany lending indicated as foreign currency debt only as information on disaggregation  by foreign and domestic currency debt for these parts is not available. Table 3 Data showed in column "Immediate" includes bank short-term deposits, correspondent and settlement accounts of non-residents in domestic banks. No arrears included. Table 2.1 1/Data for Other sector and Intercompany lending indicated in total sum in parts  "Other" accordingly as information on disaggregation  by foreign currency debt  is not available. Data not available for Financial Derivatives. Table 3.1 Data not available for unfilled parts "Banks" and "Direct Investments". Data presented in USD (millions).

23

Mexico

1/ In order to accomplish, with the methodology proposed in the “External Debt Statistics: Guide for Compilers and Users” (2003) published by the IMF, the official Mexican external debt statistics were adjusted to fulfill the SDDS specifications. All the adjustments were incorporated in the corresponding sector, maturity and instrument. In particular, it was necessary to incorporate both nonresidents’ holdings of Mexican peso denominated debt and debt liabilities of Mexican residents with agencies of Mexican commercial banks located abroad. Also, it was necessary to exclude Mexicans’ holdings of foreign currency denominated debt. 2/ All data related with the public sector (federal government, development banks and public corporations) were classified according to the ¨user ¨ instead of the ¨debtor¨ criteria. As a result, guaranteed debt is attributed to the guarantor not to the debtor.  3/ Consists of claims or liabilities arising from the direct extension of credit by suppliers for transactions in goods and services or for  work in progress. Trade-related loans provided by a third party to an exporter or imported are included under the "loans" category.  4/ Includes nonresidents' holdings of BREMS and deposits of both multilateral creditors and foreign central banks at Banco de México.  5/ Does not include agencies, since they are considered as nonresident entities. Commercial Banks' data includes interest. Other depositary corporations include: Leasing Enterprises, Factoring Enterprises, Limited Object Financial Societies, Savings and Loans Associations, Credit Unions and Investment Funds.  6/ Nonbank financial corporations include: Insurance Companies, Bonded Warehouses, Brokerage Firms and Surety Bonding Institutions.  7/ Includes Outstanding debt related to Productive Infrastructure Projects with Differed Expenditure Impact (Pidiregas) that result from the satisfactory reception  of projects. Pidiregas is a funding mechanism that has been utilized to finance strategic, long-term oil, gas and power projects since 1995. According to the applicable accounting procedures such debt is assumed by the public sector two years before it is due and once the infrastructure project has been concluded. This rubric does not include Pidiregas-CFE (Comisión Federal de Electricidad) debt because it is assumed that the latter is already accounted for in the Private Sector. If such assumption were not suitable, the Gross External Debt associated with these projects would be underestimated. 8/ Unlike the rest of the sectors that conform the Gross External Debt Position statistics, the term structure of the private sector is computed on a "term to maturity" basis instead of an "original maturity" basis. Also, private sector bonds information is only available at face value. 9/ Includes the Institute of Protection to the Bank Saving (IPAB). Corresponds to nonresidents' holdings of BPAS and BPATS, and to loans from agencies located abroad related with debt restructured programs.                                               The negative numbers that appear on the Other Debt Liabilities account in Tables 1, 1.2 and 1.3 come from an adjustment that is done in the data in order to avoid double counting the Pidiregas  debt assumed by the Mexican Government (specifically by PEMEX). The Concept of Publicly Guaranteed Private Sector External Debt-Long term reflects the correct adjustment. Nevertheless, no data is available to distribute the adjustment of PIDIREGAS debt among its components (Bonds and notes, Loans and Other Debt liabilities).                                                                    Source: Ministry of Finance and Public Credit (SHCP) and Banco de México. Preliminary data.      

Table 1 The data of currency and deposits can have a negative sign for monetary authorities because of the fact that this item mainly consists of the result of a clearing between several NCBs. At the end of a period (in this case a quarter) the position can be negative or positive.

The Norwegian gross external debt position data are based on the definitions and standards in the 5th edition of the IMF's Balance of Payment manual (BPM5), and are disseminated in million of Norwegian kroner (NOK). End-of-period stocks of external liabilities are presented under the following data categories: broken down by general government, monetary authorities, banks and other sectors; broken down by maturity (short-term/long-term); broken down by instrument. Data is released 3 months after the end of the reference period. 

There is a break in the series of the sectors general government and monetary authorities between 3rd quarter of 2005 and 4th quarter of 2005, due to repo loans that have been moved from long term debt to short term debt.

26

Peru

Table 1 Other debt liabilities for 2006Q1, Q2 and Q3 are preliminary. Table 2 Long term domestic currency debt for 2006Q1, Q2 and Q3 are preliminary.Table 3 Information for bank and other sectors is not available; does not include forgiveness of public debt.

27

Portugal

Tradable debt instruments are reported at their market values.

28

Russia

Table 1 Included is the indebtedness in domestic and foreign currencies. Only non-resident holdings of government securities are reported. Data are presented at face value. "Banks" include liabilities of credit institutions (including Vnesheconombank). Foreign debt, on which Vnesheconombank is an agent of the Government of the Russian Federation, is recorded under the government liabilities. In long-term bonds and notes of "Other sectors" included is market value of preferred shares owned by nonresidents. Preferred shares are classified as part of external debt owing to the obligation of the issuer to pay dividends on them under the stipulation that the issuer does not assume liability to buy the shares back at market price. Since the 1st of January 2007 indebtedness on repoes is included in the short-term loans of "Other sectors".

29

Slovak Republic

Data on general government, such as bonds are compiled according to the information from secondary markets (from Central Securities Depository). So the data on bonds and in Table1 are based on information from the secondary market regarding who is the final holder of securities - whether resident units or nonresident units. However, for the rest of the tables only data from primary market are available. Thus Table 1 may not be consistent with other tables. Table 2 Data on general government, such as bonds are compiled according to the information from primary market (from Debt and Liquidity Management Agency).

Tables 2, 2.1, 3.1 are only for general government sector.

30

Slovenia

Bonds and notes are reported at market value, other tradable debt instruments are reported at nominal value.

31

South Africa

Short term debt is reported at original maturity. Direct investment sector debt includes short-term and long-term capital. "Other Sectors" includes "Public Corporations".

32

Spain

Arrears are not identified separately under other debt liabilities, short-term and under direct investment.

33

Sweden

The data for "Banks" refer to MFI. Full market valuation is applied to bonds and notes and money market-instruments. Other stock-data are recorded at nominal value at the end-of-period exchange rate. There is no distinction between loans and currency and deposits. Data on trade credits are available only for non-financial enterprises.

34

Switzerland

Liabilities of pension funds and life insurance companies towards persons outside Switzerland habe been included in the accounts for the first time. As a result, foreign debt is 6% to 7% higher than previously reported.  1/ Trade credits and loans cannot be distinguished. Claims and liabilities are broken down by remaining maturity. 2/ No information about arrears available 3/ Reported at market value. 4/ Including accrued interest. 5/ No information about other debt liabilities available. Table 2 / Breakdown by remaining maturity. 3/ Reported at marked value. 4/ Including accrual interest. 5/ Long term: including intercompany lending.

"Did not separate the projected debt service payments for direct investment loan and other loan, but calculated it as that for total loans. Table 3 This table is based on outstanding as of end June 2007. Direct investment is included in the Other Sectors. Table 1.3 Publicly Guaranteed Private Sector External Debt refers to guaranteed and non-guaranteed debt of state-owned enterprises.

36

Tunisia

"Currency and deposits" of short-term liabilities of Banks includes data on short-term and long-term headings "Currency and deposits" and "Other debt liabilities". Trade credits are not shown as a separate instrument, but included as part of loans. External debt statistics concerning "Banks" includes "Non banking financial sector" external debt.

37

United Kingdom 

3/Market prices. Arrears are not identified separately.

38

Ukraine

39

United States