* indicates monthly or quarterly data series

Short-term external debt, percent of international reserves, 2022:

The average for 2022 based on 85 countries was 43.27 percent. The highest value was in Zimbabwe: 665.54 percent and the lowest value was in Cape Verde: 0 percent. The indicator is available from 1970 to 2022. Below is a chart for all countries where data are available.

Measure: percent; Source: The World Bank
Select indicator
* indicates monthly or quarterly data series


Countries Short-term debt to reserves, 2022 Global rank Available data
Zimbabwe 665.54 1 1970 - 2022
Tunisia 169.05 2 1970 - 2022
Belarus 127.21 3 1994 - 2022
Turkey 119.78 4 1970 - 2022
Argentina 109.59 5 1970 - 2022
Mauritius 106.74 6 1977 - 2022
Djibouti 106.54 7 1984 - 2022
Egypt 94.1 8 1970 - 2022
Pakistan 88.33 9 1970 - 2022
Zambia 88.12 10 1970 - 2022
Costa Rica 79.77 11 1970 - 2022
Armenia 78.85 12 1993 - 2022
Georgia 77.95 13 1995 - 2022
Papua N.G. 76.52 14 1976 - 2022
South Africa 70.93 15 1994 - 2022
Laos 61.68 16 1988 - 2022
Nigeria 61.52 17 1970 - 2022
Mongolia 61.19 18 1992 - 2022
Bangladesh 54.91 19 1972 - 2022
Moldova 54.71 20 1992 - 2022
Maldives 54.22 21 1978 - 2022
Ukraine 54.13 22 1992 - 2022
Jamaica 49.28 23 1970 - 2022
Lebanon 47.72 24 1977 - 2022
North Macedonia 47.7 25 1993 - 2022
Kazakhstan 47.47 26 1993 - 2022
Vietnam 44.09 27 1995 - 2022
S.T.&Principe 42.14 28 1995 - 2022
Yemen 39.9 29 1990 - 2022
China 38.26 30 1982 - 2022
Indonesia 36.71 31 1970 - 2022
Thailand 36.31 32 1970 - 2022
Colombia 33.72 33 1970 - 2022
Kyrgyzstan 33.39 34 1993 - 2022
Bosnia & Herz. 32.74 35 1999 - 2022
Kenya 32.21 36 1970 - 2022
Suriname 32.03 37 2015 - 2022
Morocco 30.78 38 1970 - 2022
Angola 30.7 39 1995 - 2022
Mexico 27.23 40 1970 - 2022
Mozambique 26.72 41 1984 - 2022
Nicaragua 25.96 42 1970 - 2022
Cambodia 25.9 43 1993 - 2022
Sierra Leone 25.88 44 1970 - 2022
Saint Lucia 25.06 45 1981 - 2022
Bulgaria 24.37 46 1991 - 2022
Paraguay 24.33 47 1972 - 2022
India 22.77 48 1970 - 2022
Ecuador 22.74 49 1970 - 2022
Samoa 22.2 50 1974 - 2022
Domin. Rep. 21.81 51 1970 - 2022
Rwanda 21.81 52 1976 - 2022
Brazil 20.87 53 1970 - 2022
Albania 19.33 54 1993 - 2022
Tajikistan 18.65 55 1997 - 2022
Grenada 17.4 56 1977 - 2022
Philippines 17.3 57 1970 - 2022
Uzbekistan 17.26 58 1999 - 2022
Bolivia 16.81 59 1970 - 2022
Serbia 12.38 60 2006 - 2022
Honduras 11.76 61 1976 - 2022
Russia 11.27 62 1993 - 2022
Montenegro 9.74 63 2007 - 2022
Dominica 9.41 64 1981 - 2022
Solomon Isl. 8.66 65 1978 - 2022
Madagascar 8.32 66 1973 - 2022
Gambia 7.12 67 1977 - 2022
Fiji 5.96 68 1976 - 2022
Guyana 5.92 69 1972 - 2022
Vanuatu 4.98 70 1983 - 2022
Azerbaijan 4.48 71 1993 - 2022
Nepal 3.45 72 1977 - 2022
Swaziland 2.64 73 1977 - 2022
Botswana 2.62 74 1976 - 2022
Algeria 2.43 75 1977 - 2022
Guatemala 2.29 76 1970 - 2022
Belize 2.04 77 1977 - 2022
Iraq 1.19 78 2015 - 2022
Comoros 0.55 79 1980 - 2022
Burundi 0.16 80 1977 - 2022
Cape Verde 0 81 1981 - 2022
Haiti 0 82 1975 - 2022
Liberia 0 83 1974 - 2022
St. Vincent & ... 0 84 1981 - 2022
Tonga 0 85 1985 - 2022



Definition: Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Total reserves includes gold.

Selected articles from our guide:

International lending and sovereign debt

Are trade deficits bad for the economy?

The unholy trinity of international finance

All articles

665.54
169.05
127.21
119.78
109.59
106.74
106.54
94.10
88.33
88.12
79.77
78.85
77.95
76.52
70.93
61.68
61.52
61.19
54.91
54.71
54.22
54.13
49.28
47.72
47.70
47.47
44.09
42.14
39.90
38.26
36.71
36.31
33.72
33.39
32.74
32.21
32.03
30.78
30.70
27.23
26.72
25.96
25.90
25.88
25.06
24.37
24.33
22.77
22.74
22.20
21.81
21.81
20.87
19.33
18.65
17.40
17.30
17.26
16.81
12.38
11.76
11.27
9.74
9.41
8.66
8.32
7.12
5.96
5.92
4.98
4.48
3.45
2.64
2.62
2.43
2.29
2.04
1.19
0.55
0.16
0.00
0.00
0.00
0.00
0.00
0
166.4
332.8
499.2
665.54
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