ASi" kUCTURE FlOR DEVELOPMENT

table, goods and services include workers' remit- prime rate. This colurmn shows the borrowers extancest
For estimating net present value of total exter- posure to changes in inentinlinterest rates.
vial debt as a perceitage of GNP, the debt figures are The summary measures mn tins tatble are
converted into US. dollars from currencies of repay-~ weighted by the amounts of the lo'ans.
ment at end-of-year official exchange rates. GP is
converted from national currencies to.US. dollars Table 2.5. Population and labor foDrce
by applying the conversion procedure described im
the tecduiical note for Tables 2 and 3.
Population and labor force growth rates are expo-
Total debt service as a percenrtage of exports of goods nential period averages calculated from midyear
and servie is the sum of prncipal repayments and populations and total labor force estimtes (See the
interest payments on total extenal debt (as defined Key for survey and census informationa i
in the note for Table 20). It is one of severl conven- Population estimates for mid-1992 are made by
tional measures used to assess a country's abiity to the World Bank ftom data provided by the U.Nservice
debtL
Population Division, the U.N. Statistical Office, and
* tetrst - pamtents as a percentage of exports of goods country statstical offices. Estimates take into acand
services are actual payments made on total exer- count the results of the latest population censuses,.
nal debtL
which in some cases are neithier recentt nor accurate.
Concessioal dEbt as a percentage ext total ernai Note that refugees not permanently settled in the
debt conveys information about the borrower's -re- country of asylum are generally- conisidered to be
ceipt of aid from official lenders at concessional part of the population of their country of origintms
as defined by the DAC, foTat is, loans with an The projections of population for 2000,2025, and
original grant element of 25 percent or more.
the year in which the population wsil eventually be-
Multilakr l debt ass percentage of total ertemal debt conie stationary (see definition below) are made for
conveys information about the borrower's receipt of each: ecnomy separately hiformation t on total popaid
from the World Bank-, regional development ulationoby age and sex, fertility mortality and interbanks,
and other multilateral and intergovernmen- natonal migration is projected on the basis of genertal
ageces. Excuded are lan from funds admnin- alized assumptions until the population becomes
istered by an international organization on behalf of stationaryf
a single donor government
-A stationary population is one in which age- and
TMe summnary measures are weighted by exports sm-specific mortality rates have not changed over a
of goods and services in current dollr and by GNP long period, during which fertility rates have rein
current dollars respectively
mained at replacement leven that is, the net reproduction
rate (defined in the note for Table 26) equals
Table 24. Terms of external pubic borowing
1. hi such a population, thebirth rate is constant and
equal to the death rate, the age structur is constant,
Commitments refer to the public and publicly guar- and the growth rate is zero.
anteed loans for wich contracts were signed in the Population projections are made by age cohort.
year specified. They are reported in currenies of re- Mortityp fertility and migration are projected separpayment
and converted into US. dollars at average rtely, and the results axe applied iteratively to the
annual official exchange rates.
1990 base-year age structure. For the projection pe-
Figures for interest rtes, maturities, and grace pei- nod 1990 to 2005, the changes in mortality are counols.
are averages weighted by the amounts of the try specific increments in life expectancy and decreloans.
Interest is the major charge levied on a loan ments isn infant mortality are based on previous
and is usually computed on the amount of principal trends for each country When female seconsdary
drawn and outstanding. The naturity of a loan is school enrollment is high, mortality is assumed t
the interval between the agreement date, when a decline more quiddy; infant mortality is projected
loan agreement is signed or bonds are issued, and separately f eom adult mortality. Note that the prothe
date of final repayment of princial. The grace jections incorporate the impact of acquired immune
period is the interval between the agreement date deficiency syndrome (AIDS) on mortality.
and the date of the first repayment of prinipal
Projected fertility rates are also based on previ-
Public loans with veble interest rates, as a mercent- ous treds. For countries in which fertility has
age of public debt rfer to interet rates that float with strted to decline (termed "fertility tasitioe), this
movements in a key market rate; for exmple, the trend is assumed to continue. It has been obseved
London interbank offered rate (LIBOR) or the U.S. that no c Fountry in which the population has a life
241