Short-term debt to reserves - Country rankings

* indicates monthly or quarterly data series

Short-term external debt, percent of international reserves, 2024:

The average for 2024 based on 96 countries was 790.72 percent. The highest value was in Luxembourg: 36315.1 percent and the lowest value was in Botswana: 0 percent. The indicator is available from 1990 to 2024. 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, 2024 Global rank Available data
Luxembourg 36315.1 1 2002 - 2024
Ireland 10022 2 2002 - 2024
UK 3952.27 3 1999 - 2024
Cyprus 2861.69 4 2008 - 2024
Malta 2842.42 5 2008 - 2024
Belgium 1542.88 6 2003 - 2024
Greece 1237.77 7 2003 - 2024
Netherlands 1215.15 8 2003 - 2024
France 1177.14 9 2002 - 2024
Canada 992.61 10 1998 - 2024
Finland 985.73 11 2002 - 2024
USA 971.34 12 2003 - 2024
Spain 936.61 13 2002 - 2024
Slovenia 780.04 14 2001 - 2024
Australia 759.71 15 2003 - 2024
Austria 657.69 16 2003 - 2024
Germany 624.41 17 2001 - 2024
Estonia 581.3 18 1998 - 2024
Croatia 568.37 19 1999 - 2024
Sweden 512.24 20 1998 - 2024
Lithuania 426.29 21 2003 - 2024
Portugal 419.81 22 1998 - 2024
Singapore 358.55 23 2003 - 2024
Slovakia 340.97 24 2003 - 2024
Norway 323.98 25 2003 - 2024
Italy 316.17 26 2002 - 2024
Japan 259.71 27 2003 - 2024
Seychelles 247.65 28 2012 - 2024
New Zealand 233.88 29 2011 - 2024
Denmark 160.91 30 2003 - 2024
Tunisia 156.1 31 1990 - 2024
Djibouti 146.47 32 1990 - 2024
Mauritius 131.07 33 1990 - 2024
Switzerland 123.38 34 1999 - 2024
Sri Lanka 121.83 35 1990 - 2024
Turkey 114.32 36 1990 - 2024
Dominica 114.01 37 1990 - 2024
Malaysia 110.84 38 2012 - 2024
Belarus 110.02 39 1994 - 2024
Georgia 108.93 40 1995 - 2024
Argentina 104.41 41 1990 - 2024
Armenia 100.59 42 1993 - 2024
Zambia 81.72 43 1990 - 2024
Jordan 79.06 44 1990 - 2024
South Africa 74.34 45 1994 - 2024
El Salvador 71.51 46 1990 - 2024
Egypt 69 47 1990 - 2024
Bangladesh 65.86 48 1990 - 2024
Hungary 62.48 49 2002 - 2024
Ukraine 54.92 50 1992 - 2024
Czechia 53.58 51 1999 - 2024
North Macedonia 52.75 52 1993 - 2024
Pakistan 51.61 53 1990 - 2024
Uruguay 48.63 54 2003 - 2024
Moldova 46.87 55 1992 - 2024
Indonesia 44.53 56 1990 - 2024
Chile 44.07 57 2003 - 2024
Iceland 43.1 58 1998 - 2024
Jamaica 42.6 59 1990 - 2024
Kazakhstan 42.4 60 1993 - 2024
Sierra Leone 40.69 61 1990 - 2024
Namibia 39.42 62 2010 - 2024
China 37.79 63 1990 - 2024
Mongolia 36.83 64 1992 - 2024
Poland 36.81 65 1999 - 2024
South Korea 35.04 66 1998 - 2024
Kyrgyzstan 34.88 67 1993 - 2024
Colombia 32.76 68 1990 - 2024
Bosnia & Herz. 31.15 69 1999 - 2024
Tr.&Tobago 30.86 70 2015 - 2024
Thailand 29.68 71 1990 - 2024
Romania 29.35 72 2008 - 2024
Mexico 27.07 73 1990 - 2024
Brazil 25.56 74 1990 - 2024
Bolivia 24.38 75 1990 - 2024
Bulgaria 23.86 76 2005 - 2024
Israel 22.2 77 1998 - 2024
India 21.65 78 1990 - 2024
Rwanda 20.81 79 1990 - 2024
Honduras 20.11 80 1990 - 2024
Albania 20.09 81 1993 - 2024
Morocco 19.93 82 1990 - 2024
Philippines 19.72 83 1990 - 2024
Saint Lucia 19.58 84 1990 - 2024
Cambodia 19.09 85 1993 - 2024
Nicaragua 18.76 86 1990 - 2024
Saudi Arabia 18.44 87 2017 - 2024
Suriname 14.53 88 2011 - 2024
Ant.& Barb. 14.47 89 2016 - 2024
Uzbekistan 13.58 90 1999 - 2024
Samoa 13.5 91 1990 - 2024
Peru 13.26 92 1990 - 2024
Ecuador 5.54 93 1990 - 2024
Algeria 2.12 94 1990 - 2024
Guatemala 0.34 95 1990 - 2024
Botswana 0 96 1990 - 2024


New - World map: Short-term debt to reserves




Definition: Debt of public and private domestic borrowers to non-residents with maturity of twelve months of less as percent of total foreign exchange reserves. Source: Kose, M. Ayhan, Sergio Kurlat, Franziska Ohnsorge, and Naotaka Sugawara. 2022. "A Cross-Country Database of Fiscal Space." Journal of International Money and Finance 128 (November): 102682.

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All articles

1. Luxembourg
2. Ireland
3. UK
4. Cyprus
5. Malta
6. Belgium
7. Greece
8. Netherlands
9. France
10. Canada
11. Finland
12. USA
13. Spain
14. Slovenia
15. Australia
16. Austria
17. Germany
18. Estonia
19. Croatia
20. Sweden
21. Lithuania
22. Portugal
23. Singapore
24. Slovakia
25. Norway
26. Italy
27. Japan
28. Seychelles
29. New Zealand
30. Denmark
31. Tunisia
32. Djibouti
33. Mauritius
34. Switzerland
35. Sri Lanka
36. Turkey
37. Dominica
38. Malaysia
39. Belarus
40. Georgia
41. Argentina
42. Armenia
43. Zambia
44. Jordan
45. South Africa
46. El Salvador
47. Egypt
48. Bangladesh
49. Hungary
50. Ukraine
51. Czechia
52. North Macedonia
53. Pakistan
54. Uruguay
55. Moldova
56. Indonesia
57. Chile
58. Iceland
59. Jamaica
60. Kazakhstan
61. Sierra Leone
62. Namibia
63. China
64. Mongolia
65. Poland
66. South Korea
67. Kyrgyzstan
68. Colombia
69. Bosnia & Herz.
70. Tr.&Tobago
71. Thailand
72. Romania
73. Mexico
74. Brazil
75. Bolivia
76. Bulgaria
77. Israel
78. India
79. Rwanda
80. Honduras
81. Albania
82. Morocco
83. Philippines
84. Saint Lucia
85. Cambodia
86. Nicaragua
87. Saudi Arabia
88. Suriname
89. Ant.& Barb.
90. Uzbekistan
91. Samoa
92. Peru
93. Ecuador
94. Algeria
95. Guatemala
96. Botswana
36315.10
10022.00
3952.27
2861.69
2842.42
1542.88
1237.77
1215.15
1177.14
992.61
985.73
971.34
936.61
780.04
759.71
657.69
624.41
581.30
568.37
512.24
426.29
419.81
358.55
340.97
323.98
316.17
259.71
247.65
233.88
160.91
156.10
146.47
131.07
123.38
121.83
114.32
114.01
110.84
110.02
108.93
104.41
100.59
81.72
79.06
74.34
71.51
69.00
65.86
62.48
54.92
53.58
52.75
51.61
48.63
46.87
44.53
44.07
43.10
42.60
42.40
40.69
39.42
37.79
36.83
36.81
35.04
34.88
32.76
31.15
30.86
29.68
29.35
27.07
25.56
24.38
23.86
22.20
21.65
20.81
20.11
20.09
19.93
19.72
19.58
19.09
18.76
18.44
14.53
14.47
13.58
13.50
13.26
5.54
2.12
0.34
0.00
0
9078.8
18157.6
27236.3
36315.1


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