public debt

(redirected from Sovereign debt)
Also found in: Dictionary, Thesaurus, Legal, Wikipedia.

Public debt

Issues of debt by governments to compensate for a lack of tax revenues.

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.

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.
References in periodicals archive ?
Chief of the Central Bank of Russia Elvira Nabiullina said earlier that a potential future ban on purchase of Russian sovereign debt securities within the framework of US sanctions may cause certain volatility on the market but the effect will be of short term.
However, the sharp increase of sovereign debt level in many economies since 2008 has changed the situation.
The adoption of the resolution reflected growing concerns about renewed sovereign debt crises and long-term debt sustainability in the context of a continued global economic fragility.
In addition, some features of the sovereign debt market make emerging economies particularly prone to default.
Laws regarding sovereign debt have evolved over centuries and are quite complex.
Today, Sovereign Debt will be tackling a new trip, nine furlongs, in the Darley Stakes.
The resolution aims to improve sovereign debt restructuring processes and to avoid lengthy litigation like the one currently being faced by Argentina in American courts.
resolution "decides to elaborate and adopt through a process of intergovernmental negotiations, as a matter of priority during its sixty-ninth session, a multilateral legal framework for sovereign debt restructuring processes".
Nestor Osorio, President of UN Economic and Social Council (ECOSOC), as saying that, "the difference between todayaACAOs crisis and other recent crises is that, today, problems related to sovereign debt are not confined to emerging markets or low income countries".
MasterCard Inc, which is under pressure from France to cut card payment fees, said European consumers are increasingly using credit and debit cards for purchases, dismissing the sovereign debt crisis, Bloomberg said.
Summary: Beijing: Rising sovereign debt levels in advanced economies are spawning a crisis that threatens to .