Unfunded debt


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Unfunded debt

Debt maturing within one year (short-term debt). See: Funded debt.
References in periodicals archive ?
Table 2 sets out the 823 million [pounds sterling] of British and Irish government funded and unfunded debt that was held by the public on February 1, 1817, a date chosen so the special "emergency" financings for the Waterloo campaign were out of the way.
The central bank's provisional data released this week states that the increase in domestic debt was mostly due to a rise in the stock of floating, permanent and unfunded debts. Unfunded debt comprising National Savings Schemes, or NSS, till July 2009, went up by Rs274.3 billion to Rs1.305 trillion compared to Rs1.03 trillion during the corresponding period in the previous year.
Bill Balhoff, partner of Postlethwaite & Netterville in Baton Rouge, Louisiana, says, "The longer you spend not dealing with retirement, the more your unfunded debt builds up." Clearly, denial is very costly.
The SBP data showed that federal government long-term domestic debt - which is divided into permanent debt, floating debt, unfunded debt and foreign currency loans - increased 10.55percent to Rs16.4 trillion during the period under review.
The increase in domestic debt was mostly due to a rise in the st-ock of flo-at-ing, permanent and unfunded debts. During this one year period, the unfunded debt comprising national savings schemes (NSS) till July 2009 went up by Rs274.3 billion to Rs.1.305 trillion as last year at the end of the same month it was at Rs.1.03 trillion.
According to State Bank of Pakistan (SBP) the government's overall stock of domestic debt and liabilities comprising permanent debt floating debt unfunded debt and foreign currency loans posted an increase of 14 percent during the financial year 2014.
The interest payments on the matured stock of DSCs still constitute a major share in the total interest payments on unfunded debt.
The floating debt increased by PkR 364 bn to PkR 2.76 trn against PkR 2.39 trn in June 2010, while unfunded debt rose by PkR 56.1 bn to PkR 1.51 trn.
Similarly, unfunded debt was up by Rs185.7 billion to Rs1.45 trillion.
According to the State Bank of Pakistan, the country's domestic debts, comprising permanent debt, floating debt, unfunded debt and foreign currency instruments, registered a healthy growth of 20.50 percent during fiscal year 2010.
Similarly, for domestic debt interest, the government will keep Rs259 billion for unfunded debts. The break-up of the unfunded debt revealed that Rs120 billion are estimated for Defence Savings Certificates, one billion rupees for Saving Accounts, Rs5 billion for Postal Life Insurance, Rs58 billion for Special Savings Certificates and Accounts, Rs7 billion for Regular Income Scheme, Rs11 billion for Pensioner's Benefit Accounts, Rs52 billion for Bahbood Savings Certificates, and Rs3 billion for GP fund.
The situation in the area is bad enough that Saginaw County wants to issue bonds to cover about $64 million of its unfunded debts.