These countries existing foreign debt, by contrast, carried an average interest rate of 1.6 with an average maturity of 28.7 years.

Moreover, the debt is denominated in rupees and has an average maturity of more than nine years.

One obvious objection to this strategy is that it would reduce the average maturity of Italian and Spanish debt.

But that is unlikely, given the Fed s general anti inflationary consensus and the very short average maturity roughly four years of the national debt.

Plan B would extend the maturity of Greece s debt.

In the current situation, the US cannot reduce the real value of its government debt significantly by indulging in a bout of inflation, because the average maturity on existing debt is very short only about four years.

With practically half of Italy s debt financed by European Treasury Bills producing an effect similar to a reduction in the average maturity of its debt a successor government would be all the more responsive to any punishment imposed by the EFA.

Ireland s authorities have conducted similar recent operations, exchanging short maturity paper for longer term debt.

Twin current account and fiscal deficits (and or currency and debt maturity mismatches) were the rule.

The capacity of developing countries to manage the maturity structure and currency composition of debt needs further improvement.

By February 2013, these ten African economies had collectively raised 8.1 billion from their maiden sovereign bond issues, with an average maturity of 11.2 years and an average coupon rate of 6.2 .

With too big to save countries like Spain in the clear, the debt of highly indebted peripheral countries like Greece could be written down through interest waivers, maturity extensions, and debt exchanges.

Prior to the crisis, American consumers, on average, either saved nothing or accumulated debt.

This means extending the maturity dates of debts and reducing the interest rate on the new debt to levels much lower than currently unsustainable market rates.

This is particularly the case today, when, after sustained massive quantitative easing by major central banks, many governments have exceptionally short maturity structures for their debt.

Average external debt on the continent has fallen from 63 of GDP in 2000 to 22.2 this year, while average inflation now stands at 8 , down from 15 in 2000.

The basket was designed in such a way as to result in an average debt service cost of 4 .

The ratio of debt service to exports for these countries has declined to an average of 10 per cent.

The issue was not only the aggregate level of debt it was also a question of balance between private and public sector debt, their maturity structure, the level of contingent liabilities, reserve management and pursuit of macroeconomic policies consistent with development objectives.

Even if the face value of the Greek debt were not reduced, a maturity extension would still provide massive debt relief on a present value basis to Greece as a euro of debt owed 30 years from now is worth much less today than the same euro owed a year from now.

Before the HIPC Initiative, eligible countries spent, on average, slightly more on debt service than on health and education combined.

American consumers are shopped out, saving less, debt burdened (136 of income, on average), and buffeted by many negative shocks.

Meanwhile, deficit and debt indicators have worsened, both in absolute terms and relative to emerging economies, and the average risk premium on advanced economies debt now exceeds that for emerging economies.

The average high debt episodes since 1800 last 23 years and are associated with a growth rate more than one percentage point below the rate typical for periods of lower debt levels.

Stated differently, now that Greece has achieved a zero primary budget deficit, its debt burden will decline if its nominal growth rate exceeds the average interest that it pays on its government debt.

Angola, Malawi, Mozambique, and Zambia owe an average of 150 of their GDP, and servicing the debt swallows billions of dollars annually.

In 2007, the average household savings rate was 3.8 and household debt 101 of annual disposable income, a typical level in Europe.

In that sense, maturity would also ensure consensus.

That way, formal haircuts on the face value of debt can be avoided via new bonds that include only a maturity extension and an interest rate cap that is set below today s unsustainable market rates.

Only one in a thousand leatherback hatchlings will reach maturity.

But an important disadvantage of derivatives is their short maturity.

B2B relationships usually have longer maturity times than B2C relationships.

The SDP action plans are at various stages of maturity.

MILAN A rapid and large increase of government debt has been a general phenomenon in the advanced countries since the 2007 09 crisis for the first time, the average debt GDP ratio for OECD countries has surpassed 100 .

Moreover, a maturity extension resolves rollover risk for the coming decades.

You can sense its maturity and rising ambition in each episode.

Notwithstanding sharp reductions in debt service traceable to the Fed s zero interest rate subsidy, the stock of debt is still about 116 of disposable personal income, well above the 43 average in the final three decades of the twentieth century.

According to the Modigliani Miller theorem, the mix of debt and equity that it uses to finance its assets does not alter its average cost of financing.

However the system of vocational training has not reached maturity in Pakistan.

Now, debt in the 28 countries for which relief has been approved has declined by an average of two thirds, while their expenditures on health, education, and other social services have risen to almost four times the amount of debt service payments.

Doing enough would require reducing annual budget deficits by 0.5 of GDP every year during the coming decade just to improve the sustainability of government debt on average.

Fewer choices are sometimes the hallmark of maturity, and not only in politics.

We see their response as an illustration of growing political maturity in Kosovo.

With yields on US ten year bonds falling by 45 annually, on average, from 2000 to 2012, the US was able to finance its debt on exceptionally favorable terms.

While China may have the financial resources to cover its debt overhang, it risks being left with a low to middle income economy, high debt levels, and nominal growth rates roughly two thirds lower than the 17 average annual rate achieved in 2004 2011.