Australia Yearbook - 2001

1018 Year Book Australia 2001
Foreign debt
Foreign debt is a subset of the financial
obligations that comprise a country’s
international investment position. It includes all
the non-equity components of the net
international investment position, that is, all
recorded assets and liabilities other than equity
securities and direct investment equity capital,
including reinvested earnings.
The level of borrowing and other non-equity
liabilities by Australian residents at a particular
date can be equated with Australia’s foreign debt
liabilities. The level of Australian lending abroad
and other non-equity assets at the same date are
deducted from the level of borrowing to arrive at
Australia’s net foreign debt.
The level of net foreign debt at 30 June 2000 was
$268.1b, up nearly 16% on 30 June 1999 ($232.1b).
The increase during 1999–2000 resulted from net
financial transactions of $26.2b, price changes of
–$0.3b, exchange rate changes of $9.5b and other
adjustments of $0.6b (table 30.13).
At 30 June 2000, the net foreign debt of the
public sector (general government plus public
financial and non-financial corporations) was
$31.9b, which accounted for 12% of total net
foreign debt at that date. Net foreign debt levels
of private financial corporations and private
non-financial corporations were $183.1b (68% of
total net foreign debt) and $53.1b (20%)
respectively (table 30.14).
30.14 LEVELS OF FOREIGN DEBT—At 30 June
1995 1996 1997 1998
$m $m $m
$m
$m
$m
Foreign debt assets(a) –78 296 –81 375 –93 210 –111 202 –117 875 –125 940
Public sector –31 188 –31 104 –30 208 –36 141 –36 244 –40 491
General government –1 589 –2 288 –1 934 –3 045 –4 231 –3 868
Financial corporations –28 595 –28 144 –26 853 –32 058 –31 178 –36 022
Reserve Bank –19 431 –18 445 –22 164 –23 998 –22 883 –27 184
Central Borrowing
Authorities –48 –11 –8 –179 –385 –498
Other financial corporations –9 116 –9 688 –4 681 –7 881 –7 911 –8 340
Non-financial corporations –1 004 –672 –1 421 –1 037 –835 –601
Private sector –47 108 –50 271 –63 002 –75 061 –81 631 –85 449
Financial corporations –32 893 –35 854 –45 289 –56 709 –60 333 –61 284
Non-financial corporations –14 215 –14 417 –17 713 –18 352 –21 298 –24 165
Foreign debt liabilities(a) 264 609 276 265 306 196 342 834 349 935 394 055
Public sector 99 477 101 269 97 632 88 880 79 938 72 358
General government 29 300 39 697 43 849 40 580 36 905 29 343
Financial corporations 61 846 56 472 48 213 41 392 37 284 33 460
Reserve Bank 67 51 72 48 40 34
Central Borrowing
Authorities 47 695 41 388 40 203 36 571 32 772 28 661
Other financial corporations 14 084 15 032 7 938 4 774 4 473 4 766
Non-financial corporations 8 330 5 100 5 570 6 908 5 748 9 554
Private sector 165 133 174 996 208 564 253 954 269 997 321 697
Financial corporations 101 536 115 700 146 008 180 443 197 819 244 414
Non-financial corporations 63 597 59 296 62 556 73 511 72 178 77 283
Net foreign debt 186 313 194 890 212 986 231 633 232 059 268 115
Public sector 68 289 70 165 67 424 52 739 43 694 31 867
General government 27 711 37 409 41 915 37 535 32 674 25 475
Financial corporations 33 251 28 328 21 360 9 334 6 106 –2 562
Reserve Bank –19 364 –18 394 –22 092 –23 950 –22 843 –27 151
Central Borrowing
Authorities 47 647 41 378 40 195 36 391 32 387 28 162
Other financial corporations 4 968 5 344 3 257 –3 107 –3 438 –3 574
Non-financial corporationsy 7 326 4 428 4 148 5 870 4 913 8 953
Private sector 118 025 124 725 145 562 178 893 188 366 236 248
Financial corporations 68 643 79 845 100 718 123 734 137 486 183 130
Non-financial corporations 49 382 44 880 44 844 55 159 50 879 53 118
(a) Foreign debt levels between direct investors and direct investment enterprises are recorded on a gross basis for assets and
liabilities.
Source: Balance of Payments and International Investment Position, Australia (5302.0).
1999
2000