http://www.rediff.com/money/2009/mar/31india-external-debt-at-231-billion-dollars.htm


India owes $230.85 billion to the external world as debt as on December 31, 2008, which is slightly less than $254.6 billion of forex reserves the country enjoyed at that point of time.

The total external debt marginally increased by 2.8 per cent from $224.65 billion at end-September 2008, as commercial external borrowings by India Inc continued to enjoy major chunk of external debt, as the government swung into action by liberalising overseas debt regime after these sources of funds dried up.

According to an official statement here, external commercial borrowings increased by $4.6 billion to $66.16 billion with its share in total debt increasing to 28.7 per cent from 27.4 per cent at end-September 2008.

Comparison between these two periods assumes importance as external sources of funds dried up after Lehman Brothers filed for bankruptcy in mid-September.

The data showed that the share of short-term debt declined to 20.6 per cent at $47.48 billion as on December end, 2008, from 22.6 per cent at $50.68 billion as on September end.

After the East Asian crisis of late 1990s, large chunk of short-term debt is not considered good for economic health of a country.

India's long-term debt constituted 79.4 per cent of the total debt at $183.37 billion as on December 31, 2008, against 77.4 per cent as on September 30 that year.

NRI deposits declined marginally to $40.30 billion from $40.62 billion, despite increase in ceiling of interest rates paid to them on their deposits.

Government (Sovereign) external debt stood at $57.4 billion at end-December, 2008, while non-government debt amounted to $173.5 billion.

The share of non-government debt in total debt has increased steadily since March 2003. This trend continued during the first half of 2008-09, with the share of non-government debt in total external debt increasing further to 75.3 per cent.

However, it dipped fractionally to 75.2 per cent at the end of December 2008. The official statement said, "The focus of external debt management policy continues to be on maintaining debt within manageable limits."

This includes emphasis on raising sovereign loans on concessional terms with longer maturities, regulating the levels of commercial borrowing and their end-use, rationalising interest rates on NRI deposits, monitoring short term debt and encouraging non-debt creating capital flows.

US dollar continued to dominate debt, accounting for 53.1 per cent of total external debt as on December-end 2008, followed by Japanese Yen (15.9 per cent), Indian rupee (15.8 per cent), SDR (9.3 per cent) and Euro (3.8 per cent).

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FAAKHER E CHAAMB

The external debt of India is around $230 billion while India's forex reserves are around $275 billion.

Therefore, India can theoretically pay off its debt from its own reserves.

Compare that to Pakistan's debt of $52 Billion and reserves of only $ 12 Billion. Thats practically bankruptcy.

$230 Billion is quite low for a large country such as India, i hardly see it as an insult lol

Who has more credibility in International economy, finance and banking- India or phuckistan?






colours of Kaziranga

India's external debt is not so bad. The total $230 Billion is also taking into consideration the non-government debt. The actual government external debt is only $57.4 billion.

Non-government debt is debt incurred by private corporations when they sell corporate bonds. In this case, foreign investors have bought $173.5 Billion dollars worth of corporate bonds. This shows the level of confidence that foreigners have in Indian companies.

Pakistan's external debt is $52.8 Billion. I don't know how much is government and how much is non-government. I am going to assume that the entire amount of $52.8 billion is government external debt as I doubt that smart foreign investors are going to buy bonds in Pakistani companies. They would get a better return on investment by using their hard earned money as toilet paper than they would if they invested it in Pakistan.

Having an external debt of $52.8 billion in spite of receiving 10's of billions of dollars in foreign aid is despicable. Your leaders go around the world with a begging bowl in hand, expecting them to increase their handouts. If foreign aid was ever stopped, Pakistan would soon be in worst shape than Zimbabwe or Somalia.

If I lived in a nation that survives on foreign handouts, I would hang my head down in shame and shoot myself. I thought that Pakistani's are a proud people. I guess I thought wrong.

The Indians are actually doing much better than most the countries in the world when it comes to debt. I don't really see this as an insult towards them.

............................................
"Montreal Canadiens suck "

I would be curious to see a list of countries in terms of debt, if someone has one lying around

............................................
"Montreal Canadiens suck "

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html?countryName=China&countryCode=ch&regionCode=eas&rank=24#ch

1 United States
$ 13,640,000,000,000

31 December 2008
2 United Kingdom
$ 9,170,000,000,000

31 December 2008
3 Germany
$ 5,250,000,000,000

31 December 2008
4 France
$ 5,002,000,000,000

31 December 2008
5 Netherlands
$ 2,470,000,000,000

31 December 2008
6 Italy
$ 2,328,000,000,000

31 December 2008
7 Spain
$ 2,313,000,000,000

31 December 2008
8 Ireland
$ 2,312,000,000,000

31 December 2008
9 Japan
$ 2,231,000,000,000

31 December 2008
10 Luxembourg
$ 1,933,000,000,000

31 December 2008
11 Belgium
$ 1,354,000,000,000

31 December 2008
12 Switzerland
$ 1,305,000,000,000

31 December 2008
13 Austria
$ 832,800,000,000

31 December 2008
14 Australia
$ 770,300,000,000

31 December 2008
15 Canada
$ 762,200,000,000

31 December 2008
16 Hong Kong
$ 659,900,000,000

31 December 2008
17 Sweden
$ 617,600,000,000

31 December 2008
18 Denmark
$ 585,100,000,000

31 December 2008
19 Norway
$ 558,500,000,000

31 December 2008
20 Greece
$ 504,600,000,000

31 December 2008
21 Portugal
$ 484,700,000,000

31 December 2008
22 Russia
$ 483,500,000,000

31 December 2008
23 Korea, South
$ 381,100,000,000

31 December 2008 est.
24 China
$ 379,800,000,000

31 December 2008 est.
25 Finland
$ 332,200,000,000

31 December 2008
26 Turkey
$ 277,100,000,000

31 December 2008
27 Brazil
$ 262,900,000,000

31 December 2008
28 Poland
$ 243,600,000,000

31 December 2008
29 India
$ 229,300,000,000

31 December 2008 est.
30 Hungary
$ 212,100,000,000

Thanks for the list, India is not exactly in bad company in terms of debt.

............................................
"Montreal Canadiens suck "