public debt(redirected from Sovereign Debts)
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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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 debtthe 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