Eritrea - Use of IMF credit (DOD, current US$)
The latest value for Use of IMF credit (DOD, current US$) in Eritrea was 21,831,590 as of 2020. Over the past 21 years, the value for this indicator has fluctuated between 23,953,650 in 2007 and 19,049,690 in 2001.
Definition: Use of IMF Credit: Data related to the operations of the IMF are provided by the IMF Treasurer’s Department. They are converted from special drawing rights into dollars using end-of-period exchange rates for stocks and average-over-the-period exchange rates for flows. IMF trust fund operations under the Enhanced Structural Adjustment Facility, Extended Fund Facility, Poverty Reduction and Growth Facility, and Structural Adjustment Facility (Enhanced Structural Adjustment Facility in 1999) are presented together with all of the IMF’s special facilities (buffer stock, supplemental reserve, compensatory and contingency facilities, oil facilities, and other facilities). SDR allocations are also included in this category. According to the BPM6, SDR allocations are recorded as the incurrence of a debt liability of the member receiving them (because of a requirement to repay the allocation in certain circumstances, and also because interest accrues). This debt item is introduced for the first time this year with historical data starting in 1999.
Source: World Bank, International Debt Statistics.
See also:
| Year | Value |
|---|---|
| 1999 | 20,804,700 |
| 2000 | 19,749,690 |
| 2001 | 19,049,690 |
| 2002 | 20,607,800 |
| 2003 | 22,524,540 |
| 2004 | 23,540,750 |
| 2005 | 21,665,080 |
| 2006 | 22,803,910 |
| 2007 | 23,953,650 |
| 2008 | 23,347,630 |
| 2009 | 23,763,270 |
| 2010 | 23,343,990 |
| 2011 | 23,271,840 |
| 2012 | 23,296,850 |
| 2013 | 23,343,540 |
| 2014 | 21,960,990 |
| 2015 | 21,004,900 |
| 2016 | 20,377,380 |
| 2017 | 21,587,030 |
| 2018 | 21,081,620 |
| 2019 | 20,960,870 |
| 2020 | 21,831,590 |
Development Relevance: External indebtedness affects a country's creditworthiness and investor perceptions. Nonreporting countries might have outstanding debt with the World Bank, other international financial institutions, or private creditors. Total debt service is contrasted with countries' ability to obtain foreign exchange through exports of goods, services, primary income, and workers' remittances. Debt ratios are used to assess the sustainability of a country's debt service obligations, but no absolute rules determine what values are too high. Empirical analysis of developing countries' experience and debt service performance shows that debt service difficulties become increasingly likely when the present value of debt reaches 200 percent of exports. Still, what constitutes a sustainable debt burden varies by country. Countries with fast-growing economies and exports are likely to be able to sustain higher debt levels.
Statistical Concept and Methodology: Data related to the operations of the IMF come from the IMF Treasurer's Department and are converted from special drawing rights (SDRs) into dollars using end-of-period exchange rates for stocks and average over the period exchange rates for converting flows. DOD refers to disbursed and outstanding debt; data are in current U.S. dollars. Data on external debt are gathered through the World Bank's Debtor Reporting System (DRS). Long term debt data are compiled using the countries report on public and publicly guaranteed borrowing on a loan-by-loan basis and private non guaranteed borrowing on an aggregate basis. These data are supplemented by information from major multilateral banks and official lending agencies in major creditor countries. Short-term debt data are gathered from the Quarterly External Debt Statistics (QEDS) database, jointly developed by the World Bank and the IMF and from creditors through the reporting systems of the Bank for International Settlements. Debt data are reported in the currency of repayment and compiled and published in U.S. dollars. End-of-period exchange rates are used for the compilation of stock figures (amount of debt outstanding), and projected debt service and annual average exchange rates are used for the flows. Exchange rates are taken from the IMF's International Financial Statistics. Debt repayable in multiple currencies, goods, or services and debt with a provision for maintenance of the value of the currency of repayment are shown at book value.
Aggregation method: Sum
Periodicity: Annual
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: External debt
