Net capital flows to developing countries fell 20 percent in 2009 to $598 billion and were a little over half the 2007 peak of $1.11 trillion. This is according to a new comprehensive dataset launched by the World Bank on December 16, 2010 on international capital flows titled “Global Development Finance 2011: External Debt of Developing Countries,” which reveals the impact of the financial crisis on 128 developing countries.
The Global Development Finance 2011, External Debt of Developing Countries (GDF) is the sole repository for statistics on the external debt of developing countries on a loan-by-loan basis. The latest edition of GDF contains reported or estimated data on the total external debt of all low-and middle-income countries in both electronic and print formats. Data are shown for 128 individual countries that report to the World Bank's Debtor reporting System (DRS). The database covers external debt stocks and flows, major economic aggregates, and key debt ratios as well as average terms of new commitments, currency composition of long-term debt, debt restructuring, and scheduled debt service projections.
Other major findings in this year’s publications include:
- Europe and Central Asia was the region most severely affected by the global economic crisis. Combined debt and equity flows plummeted from $411 billion in 2007 to $90 billion in 2009.
- The East Asia and Pacific region recorded a moderate 4 percent rise in net capital flows from 2008 to $191 billion in 2009.
- The Latin America and the Caribbean region saw net capital flows continue their downward trajectory in 2009. They fell by 6 percent in 2009 to $167 billion.
- The Middle East and North Africa region recorded the sharpest rise among all regions for net capital inflows in 2009. Capital inflows rose 33 percent to $28 billion, driven by new official and private borrowing.
- South Asia saw net capital flows increase sharply in 2009. Capital flows were up from the previous year by 26 percent to $78 billion, primarily because of a remarkable $37 billion turnaround in portfolio equity flows.
- Sub-Saharan Africa’s net capital inflows to GNI ratio in 2009 was 5.2 percent, highest of any region in 2009. Net capital flows rose 16 percent to $45 billion, driven by a resurgence of portfolio equity inflows and a doubling of net debt inflows from official creditors.
- World Bank’s OpenData GDF database
- GDF database, CD-ROM, and print publications
- Press release
- International Capital Flows blog
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