public debt


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Public debt

Issues of debt by governments to compensate for a lack of tax revenues.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Public Debt

The total of all bonds and other debt owed by a government. Most of the time, the national debt comes from bonds and other debt securities, but some countries in the developing world borrow directly from international institutions (such as the World Bank). The national debt may be internal, that is, owed to bondholders and banks within the country, or external, that is, owed to foreign governments, institutions, and/or individuals. In the United States, paying the interest on the national debt is a major part of the federal budget. See also: Deficit.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

public debt

the NATIONAL DEBT and other miscellaneous debt for which the government is ultimately accountable. Such debt includes, for example, the accumulated debts of nationalized industries and local authorities.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The public debt is divided into four sections: the government debt (EGP 2.685tn), the debts of public economic entities (EGP 222.3bn), the National Investment Bank (EGP 336.9bn), and inter-organisational debt between the government, economic institutions, and the National Investment Bank (EGP 84.3bn).
The authors' main point of contention seems to be that fiscal policy and public debt do not actually serve as a balance wheel, regardless of whether policy makers should try to use it as such They do not engage in prescriptive policy analysis Rather, they try to explain fiscal policy as an emergent phenomenon.
But in contrast to debt pessimists, who regard public debt as inherently problematic, debt realists see a constructive role for public debt.
External debt represents more than two-thirds of the public debt (43.6 billion dinars), and is composed of multilateral debt (47%), bilateral debt (15%) and the International Financial Market (38 %).
The average cost of gross public debt was reduced by 40 basis points during first six months of current fiscal year owing to smooth execution of the Medium Term Debt Management Strategy (MTDS).
The various issues regarding public debt discussed in the previous literature includes, burden of debt (as viewed by the Classical, Keynesians and modern economists), the effect of public debt on macro policy variables and the sustainability or viability of public debt.
To ensure reasonably sustainable public debt levels, EU member states need to attain medium term strategic budgetary objectives, that would ensure a downward trend of public debt, a condition which can be fulfilled by compliance with budget policies rules, which ground development in the macroeconomic framework.
He also told the media that the increase in public debt was necessary since the Pakistan Investment Bond (PIB) repayments will begin soon and we needed a buffer for system stability at a time when the government was shifting policy from debt rollover to debt repayment.
Govt adds Rs3.9tr to public debt in 10 months of FY19
Therefore, the net addition to the external public debt was only $2.29 billion, which is the lowest of last three years.
While Lagos Chamber of Commerce and Industry, LCCI, in a reaction, described the mounting public debt as worrisome, former Vice President and Presidential candidate of Peoples Democratic Party, PDP, in the 2019 election, Alhaji Atiku Abubakar, said it was capable of drowning the nation, if critical steps are not taken to stop further borrowing.
Public Debt a National Disaster!' - current headlines driving the public narrative on Kenya's public debt paint a very worrying picture, that Kenya's finances are in turmoil.