World Bank2012-06-152012-06-152010978-0-8213-8229-5https://hdl.handle.net/10986/8129The World Bank's Debtor Reporting System (DRS), from which the aggregates and country tables presented in this report are drawn, was established in 1951. The debt crisis of the 1980s brought increased attention to debt statistics and to the world debt tables, the predecessor to global development finance. Now the global financial crisis has once again heightened awareness in developing countries of the importance of managing their external obligations. Central to this process is the measurement and monitoring of external debt stocks and flows in a coordinated and comprehensive way. The initial objective of the DRS was to support the World Bank's assessment of the creditworthiness of its borrowers. But it has grown as a tool to inform developing countries and the international community of trends in external financing and as a standard for the concepts and definitions on which countries can base their own debt management systems. Over the years the external financing options available to developing countries have evolved and expanded, and so too has the demand for timely and relevant data to measure the activity of public and private sector borrowers and creditors. Recurrent debt crises caused by adverse global economic conditions or poor economic management have demanded solutions, including debt restructuring and, in the case of the poorest, most highly indebted countries, outright debt forgiveness, formulated on the basis of detailed and robust information on external obligations. Steps are continuously being taken to ensure that the data captured by the DRS mirrors these developments and responds to the needs of debt managers and analysts. In this context reporting requirements are periodically amended to reflect changes in borrowing patterns. Many developing countries increasingly rely on financing raised in domestic markets, and so we are exploring ways to expand the coverage of public sector borrowing in domestic markets.CC BY 3.0 IGOACCOUNTINGACCOUNTING STANDARDSASSET PRICESBANK BORROWINGBANK LENDINGBANK LOANSBANKING PRACTICESBANKING SECTORBASIS POINTSBOND FLOWSBOND INDEXBOND ISSUANCEBOND ISSUESBOND MARKETBOND SPREADSBONDSBUSINESS CYCLECAPACITY CONSTRAINTSCAPITAL ACCOUNTCAPITAL ALLOCATIONCAPITAL FLOWSCAPITAL MARKETCAPITAL MARKET DEVELOPMENTSCAPITAL MARKETSCDSCOMMERCIAL BANKSCOMMODITY PRICESCORPORATE BONDCORPORATE BONDSCORPORATE DEBTCORPORATE GOVERNANCECORPORATE SECURITIESCREDIBILITYCREDIT DEFAULTCREDIT DEFAULT SWAPCREDIT DEFAULT SWAPSCREDIT DERIVATIVECREDIT GROWTHCREDIT RATINGSCREDIT RISKCREDITORSCREDITWORTHINESSCURRENCY RISKSCURRENT ACCOUNT DEFICITCURRENT ACCOUNT DEFICITSDEBT BURDENSDEBT FLOWSDEBT MANAGEMENTDEBT RELIEFDEBT RESTRUCTURINGDERIVATIVE MARKETSDERIVATIVESDERIVATIVES MARKETSDEVELOPING COUNTRIESDEVELOPING COUNTRYDISBURSEMENTSDOMESTIC BANKSDOMESTIC DEBTDOMESTIC MARKETSECONOMIC POLICIESEMERGING ECONOMIESEMERGING MARKETEMERGING MARKET BONDSEMERGING MARKETSENFORCEMENT MECHANISMSEQUITY CAPITALEQUITY FINANCINGEQUITY FLOWSEQUITY ISSUESEQUITY MARKETEQUITY MARKET DEVELOPMENTSEQUITY MARKETSEQUITY RETURNSEXCHANGE COMMISSIONEXCHANGE RATESEXPORT GROWTHEXPORTERSEXTERNAL BORROWINGFINANCIAL DISTRESSFINANCIAL FLOWFINANCIAL FLOWSFINANCIAL HEALTHFINANCIAL INFRASTRUCTUREFINANCIAL MARKETSFINANCIAL STABILITYFISCAL POLICYFLEXIBLE EXCHANGE RATESFOREIGN BORROWERSFOREIGN CAPITALFOREIGN DEBTFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE RESERVESFOREIGN INVESTMENTFOREIGN INVESTMENT FLOWSFOREIGN INVESTORFOREIGN INVESTORSFOREIGN LOANGLOBAL BUSINESSGLOBAL CAPITALGLOBAL DEBTGLOBAL DEVELOPMENT FINANCEGLOBAL ECONOMYGLOBAL FINANCEGLOBALIZATIONGOVERNMENT REGULATIONGROSS DOMESTIC PRODUCTINFLATIONINFLATIONARY PRESSUREINFLATIONARY PRESSURESINITIAL PUBLIC OFFERINGINITIAL PUBLIC OFFERINGSINTEREST RATEINTEREST RATESINTERNATIONAL BANKINTERNATIONAL BANKSINTERNATIONAL BONDINTERNATIONAL BORROWINGINTERNATIONAL CREDITINTERNATIONAL DEBTINTERNATIONAL DEBT MARKETSINTERNATIONAL ECONOMICSINTERNATIONAL FINANCEINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL FINANCIAL MARKETSINTERNATIONAL FINANCIAL STATISTICSINTERNATIONAL INTERESTINTERNATIONAL INVESTORSINTERNATIONAL PORTFOLIOINVESTOR BASEINVESTOR BASESINVESTOR PARTICIPATIONIPOLIQUID MARKETSLIQUIDITYLOANLOAN MATURITYLOAN PORTFOLIOSLOCAL CURRENCYLOCAL DEBTLOCAL DEBT MARKETSLONG-TERM EXTERNAL DEBTMACROECONOMIC MANAGEMENTMACROECONOMIC POLICYMARKET CONDITIONSMARKET COUNTRIESMARKET DEBTMARKET ECONOMIESMARKET EQUITIESMARKET EQUITYMATURE MARKETSMATURITIESMATURITYMATURITY STRUCTUREMONETARY AUTHORITIESMONETARY FUNDMONETARY POLICYNET DEBTOIL PRICEOIL PRICESOPEN ECONOMIESOUTSTANDING DEBTPORTFOLIOPREPAYMENTSPRINCIPAL REPAYMENTSPRIVATE BONDPRIVATE CAPITALPRIVATE CREDITPRIVATE CREDITORSPRIVATE DEBTPRIVATE DEBT FLOWSPRIVATE DEBT MARKETPRIVATE DEBT MARKET DEVELOPMENTSPRIVATE DEBT MARKETSPRIVATE EQUITYPRIVATE FINANCEPRIVATE LENDINGPRUDENTIAL REGULATIONPUBLIC DEBTPURCHASING POWERREAL INTERESTREAL INTEREST RATESREGIONAL BOND MARKETSREGULATORY CAPACITYREGULATORY FRAMEWORKSREMITTANCEREMITTANCESREPAYMENTSRETURNRISK MANAGEMENTRISK PREMIUMSRISKY BORROWERSECURITIESSECURITIES REGULATIONSHORT-TERM DEBTSHORT-TERM INTEREST RATESSOVEREIGN DEBTSTOCK EXCHANGESTOCK EXCHANGESSTOCK MARKETSTOCK MARKET INDEXESSTOCKSSWAPTRADE BALANCETRADE FINANCINGTRADINGTRANSITION COUNTRIESTRANSITION ECONOMIESTRANSPARENCYTREASURIESTREASURYTREASURY BONDSVALUATIONSWARRANTSWorld Bank10.1596/978-0-8213-8229-5