b Total public debt denominated in pesos and foreign currency.

The total public debt of the country is about 72 billion.

In China, total public debt currently amounts to roughly 60 70 of GDP a manageable burden.

First, total public sector debt (including state and local debt) is already nearing the 119 of GDP peak reached after World War II.

In Jordan, total public debt increased slightly from 7,071 to 7,293 million Jordanian dinars (JD) in 2004.

Add the open public debt of 67 of GDP to this total, and the result is an overall German debt GDP ratio of about 340 .

Its trade balance is positive, and total public debt is not as high as it is in other countries.

The table below presents the evolution of total external debt of the public sector, with a breakdown of creditors.

The ratio of total public debt to GDP was less than 22 in 2007 2008, before the global financial crisis.

But China s total public debt, including off balance sheet local government financing vehicles, probably amounts to around 70 of GDP already.

External public debt

This, too, complicates the public debt dynamics and impedes the restoration of public debt sustainability.

Indeed, total public and private sector debt in China is now around 200 of GDP, up by more than one third in five years.

Accordingly, its total public debt is expected to decrease substantially, from 176 billion at the end of 2003 to 164 billion by end 2004.

For instance, the SADC countries have a total debt stock of 78.1 billion, with an annual total debt service amounting to 6.8 billion.

Servicing of external public debt

a Excludes official public debt.

Instead, they focused exclusively on US foreign debt, ignoring household debt (mortgage and consumer debt), public debt, business debt, and financial debt.

Its public debt was almost eliminated.

A similar pattern holds for public debt.

The current favorite bogeyman is public debt.

C. Public debt in the ESCWA region

Public debt in the more diversified economies

But the debate about austerity and the cost of high public debt levels misses a key point Public debt owed to foreigners is different from debt owed to residents.

China s non financial corporate debt accounts for roughly 62 of total debt 30 40 higher than in other countries.

Taxation remains the dominant source of government revenue in most developed countries. But the role of debt finance has been growing and, with it, the need to refinance old debt when total expenditure, including debt service, exceeds total revenue.

Public debt in the Gulf Cooperation Council countries

Paying down private and public debt simultaneously depresses growth.

But neither improved competitiveness, nor reduction of total debt, can be achieved overnight.

History offers two clear lessons reducing public debt is incredibly difficult without growth, and increasing growth is incredibly difficult with a huge burden of public debt.

Total costs of External relations and public information 420,900

In part, the decline was due to increased holdings of foreign public debt relative to private debt.

Until recently, public debt was considered the ultimate safe asset.

Private and public debt levels are high and possibly unsustainable.

With the onset of the European sovereign debt crisis in 2010, banks appetite for public debt fell again.

But the principle of debt forgiveness clearly has applications for public debt as well, especially in the eurozone.

Greece s debt crisis was a clear warning that European policymakers must not allow public debt to pile up indefinitely.

And it is in America s public debt that the debris of its financial system s broken promises are collected, just as Italy s massive public debt reflects its past national prodigality.

But all parts of a country s total debt and how it is financed are interconnected.

Indeed, these debt service costs alone account for 22 of the Egyptian government s total expenditures.

In Yemen, total external debt has been rising as a result of substantial budget deficits.

Public sector debt will surpass 1.7 trillion, approaching 80 of GDP.

Welcome to the BAD (Big Annual Deficits) decade of public debt.

According to Central Bank estimates, total external debt at the end of June 2002 was over 6.4 billion, and domestic debt amounted to 1.7 billion.

Even if public debt is not growing as fast as before, the huge volume of existing debt must be repaid.