World Facts

20 Countries Repaying The Highest Amounts Of Multilateral Debt

China and India each repay more than $3 billion annually to multilateral and intergovernmental agencies.

The World Bank and the International Monetary Fund are two financial institutions whose aims are to finance development projects and facilitate expansion of international trade respectively in the developing worlds. Both institutions have been lending financial assistance in the form of loans, funds, and grants after they were created in 1944. Both institutions are also known as the Bretton Woods Institutions.

Countries Making Good On Credit Reparations

Developing countries from around the world who owe debts to the World Bank and the International Monetary Fund have the legal obligation to repay these multilateral debts. Some of these debts have additional obligations from regional development banks and other intergovernmental and multilateral agencies. Debt service repayments include both the primary debt repayments and the interest payments of the particular year stipulated. China and India each repaid more than $3 billion annually to multilateral and intergovernmental agencies in the most recent year of data compiled. The following figures are in USD of multilateral debt service payments as of 2014 from the World Bank's International Debt Statistics.

China repaid around $3,358,134,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. China's multilateral debt service as of 2014 was 23.5%. The Chinese account balance as of 2014 is $219,677,599,32. India repaid close to $3,301,125,814 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. India's multilateral debt service as of 2014 was 20.2%. The Indian account balance as of 2014 is $-27,451,645,078. Turkey repaid around $2,018,204,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Turkey's multilateral debt service as of 2014 was 17.4%. The Turkish account balance as of 2014 is $-46,526,000,000. Brazil paid close to $2,009,133,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Brazil's multilateral debt service as of 2014 was 16.1%. The Brazilian account balance as of 2014 is $-103,597,152,727. Indonesia paid around $1,954,461,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Indonesia's multilateral debt service as of 2014 was 15.0%. The Indonesian account balance as of 2014 is $-27,485,312,561. Colombia paid close to $1,803,104,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Colombia's multilateral debt service as of 2014 was 35.5%. The Colombian account balance as of 2014 is $-19,567,183,092. Mexico paid around $1,594,789,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Mexico's multilateral debt service as of 2014 was 8.3%. The Mexican account balance as of 2014 is $-24,036,408,089. Pakistan paid around $1,440,467,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Pakistan's multilateral debt service as of 2014 was 54.0%. The Pakistani account balance as of 2014 is $-3,544,000,000. Ukraine paid close to $1,404,346,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Ukraine's multilateral debt service as of 2014 was 43.7%. The Ukrainian account balance as of 2014 is $-4,596,000,000. Morocco paid around $1,391,868,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Morocco's multilateral debt service as of 2014 was 49.8%. The Moroccan account balance as of 2013 is is $-7,844,020,645. Romania paid close to $1,276,893,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Romania's multilateral debt service as of 2014 was 50.1%. The Romanian account balance as of 2014 is $-950,776,761. Bangladesh paid around $1,086,072,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Bangladesh's multilateral debt service as of 2014 was 67.2%. The Bangladeshi account balance as of 2014 is $-1,677,258,362. Egypt paid close to $1,072,259,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Egypt's multilateral debt service as of 2014 was 18.3%. The Egyptian account balance as of 2014 is $-5,972,100,000. Tunisia paid close to $1,015,653,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Tunisia's multilateral debt service as of 2014 was 61.6%. The Tunisian account balance as of 2014 is $-4,301,706,746. Jordan paid around $721,953,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Jordan's multilateral debt service as of 2014 was 64.0%. The Jordanian account balance as of 2014 is $-2,419,015,493. The Philippines paid close to $720,321,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. The Philippines' multilateral debt service as of 2014 was 14.0%. The Filipino account balance as of 2014 is $10,917,020,927. Vietnam paid around $699,112,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Vietnam's multilateral debt service as of 2014 was 20.0%. The Vietnamese account balance as of 2014 is $9,508,000,000. Serbia paid close to $647,607,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Serbia's multilateral debt service as of 2014 was 43.3%. The Serbian account balance as of 2014 is $-2,634,631,882. The Dominican Republic paid around $643,094,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. The Dominican Republic's multilateral debt service as of 2014 was 35.8%. The Dominican Republic's account balance as of 2014 is $-2,025,605,000. Ecuador paid close to $626,989,000 to multilateral and intergovernmental agencies as an obligation for its multilateral debt service payments. Ecuador's multilateral debt service as of 2014 was 31.4%. The Ecuadorian account balance as of 2014 is $-589,932,850.

The Crises Arising From Multilateral Debts

Experts say that a problem exists with the way the World Bank and the International Monetary Fund handle multilateral debt repayments of developing countries. A good example are the Sub-Saharan countries in Africa. These poor countries indebted to the World Bank and International Monetary Fund are seriously caught up in a vicious cycle of getting new loans to repay old loans. In these countries where the economy is almost at a standstill due to internal conflicts, it fosters an environment of unsustainable social and economic condition. The result is the rising debt repayments that advances hopelessness and poverty. Government means to improve health care and education is severely hampered. The debt trap has been a huge hindrance in many developing countries hope for an economic recovery. Experts say that the ever-widening gap between the "haves and have-nots" is further worsening this issue.

20 Countries With The Highest Repayments Of Multilateral Debt Service

RankCountry Annual Multilateral Debt Repayments in USD
1China $3,358,134,000
2India $3,301,125,814
3Turkey $2,018,204,000
4Brazil $2,009,133,000
5Indonesia $1,954,461,000
6Colombia $1,803,104,000
7Mexico $1,594,789,000
8Pakistan $1,440,467,000
9Ukraine $1,404,346,000
10Morocco $1,391,868,000
11Romania $1,276,893,000
12Bangladesh $1,086,072,000
13Egypt $1,072,259,000
14Tunisia $1,015,653,000
15Jordan $721,953,000
16Philippines $720,321,000
17Vietnam $699,112,000
18Serbia $647,607,000
19Dominican Republic $643,094,000
20Ecuador $626,989,000

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