Global Development Finance 2012 : External Debt of Developing Countries
The data and analysis presented in this edition of global development finance are based on actual flows and debt related transactions for 2010 reported to the World Bank Debtor Reporting System (DRS) by 129 developing countries. The reports confirm...
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Format: | Publication |
Language: | English |
Published: |
World Bank
2012
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Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20120109030142 http://hdl.handle.net/10986/2392 |
Summary: | The data and analysis presented in this
edition of global development finance are based on actual
flows and debt related transactions for 2010 reported to the
World Bank Debtor Reporting System (DRS) by 129 developing
countries. The reports confirm that in 2010 international
capital flows to developing countries surpassed preliminary
estimates and returned to their pre-crisis level of $1.1
trillion, an increase of 68 percent over the comparable
figure for 2009. Private capital flows surged in 2010 driven
by a massive jump in short-term debt, a strong rebound in
bonds and more moderate rise in equity flows. Debt related
inflows jumped almost 200 percent compared to a 25 percent
increase in net equity flows. The rebound in capital flows
was concentrated in a small group of 10 middle income
countries where net capital inflows rose by an average of
nearly 80 percent in 2010, almost double the rate of
increase (44 percent) recorded by other developing
countries. These 10 countries accounted for 73 percent of
developing countries gross national income (GNI), and
received 73 percent of total net capital flows to developing
countries in 2010. The 2010 increase in net capital flows
was accompanied by marked change in composition between
equity and debt related flows. Over the past decade net
equity flows to developing countries have consistently
surpassed the level of debt related flows, reaching as high
as 97 percent of aggregate net capital flows in 2002 and
accounting for 75 percent of them ($509 billion) in 2009.
However, periods of rapid increase in capital flows have
often been marked by a reversal from equity to debt. |
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