FSM - Government External Debt

External Debt, FSM: FY1995-FY2006
       FY95 FY96 FY97 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06
External Debt Total (US$ millions)  
     New 0.3 0.8 11.7 11.8 3.8 2.2 1.85 0.68 2.87 1.06 1.93 3.68
     Outstanding 127.09 119.04 106.7 109.65 98.31 85.85 68.6 61.07 63.31 63.71 64.83 67.64
     Amortization 9.8 16.4 15.9 15.2 14.7 19.1 8.78 0.61 0.64 0.8 0.86 1.81
     Interest 8.72 7.73 6.33 5.61 4.67 3.79 2.13 1.81 1.81 1.79 1.62 1.56
     Principal balance 118.24 95 97.85 94.51 83.65 66.75 60.39 60.44 62.65 62.89 63.97 65.82
  External debt as % of GDP 57% 46% 51% 46% 41% 31% 27% 27% 28% 28% 28% 28%
  Debt service as % of exports* 46% 61% 64% 55% 58% 59% 27% 6% 6% 7% 7% 9%
External Debt Adjusted for Offsetting Assets**
     New 0.3 0.8 1.7 3.8 3.8 2.2 1.85 0.68 0.91 - - -
     Outstanding 75.39 74.54 59.9 60.95 57.61 51.15 47.4 43.07 43.35 42.69 41.87 41.01
     Amortization 2.6 8.7 9.8 7.2 8.7 5.6 5.58 0.61 0.64 0.8 0.86 1.81
     Interest 4.32 3.95 3.11 2.82 2.56 2.19 1.81 1.63 1.61 1.57 1.4 1.32
     Principal balance 73.74 58.2 57.15 53.81 48.95 45.55 42.39 42.44 42.69 41.87 41.01 39.19
   External debt (adjusted) as % of GDP 35% 28% 30% 26% 24% 21% 19% 19% 19% 19% 18% 17%
   Debt service (adjusted) as % of exports* 17% 32% 37% 26% 34% 20% 19% 5% 5% 7% 6% 8%
Memorandum items:
Debt to ADB (all concessional) 0.3 1.1 12.8 24.6 28.4 30.6 32.45 33.13 36 36.93 38.15 40.77
GDP (US$ millions) 207.79 207.05 190.11 203.77 203.41 217.21 220.26 221.91 227.76 224.25 232.22 236.91
Export of Goods and Services (US$ millions) 39.87 39.46 34.54 37.87 33.37 38.62 39.81 42.73 42.62 35.19 36.98 37.16

Sources: Department of Finance and Administration and EMPAT estimates.
Notes: * Export of Goods and Services; ** Yap MTN (Monetization Scheme), and three ADB loans all held/hold secured assets in offshore investments equal/greater than discounted value of the debt.