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DEBT
Multilateral Debt
Debts due to the World Bank, the IMF, the regional development
banks such as the ADB (African Development Bank), and other multi
lateral institutions such as the European Development Fund.
Private Debt
Loans contracted by private borrowers, regardless of the lender.
Public Debt
All loans contracted by public borrowers.
Rescheduling
Modification of the terms of a debt, for example by modifying the due
dates or by postponing repayment of the capital sum and/or the
interest.
Debt-Servicing
Repayment of interest plus amortisement of the capital sum.
Net Financial Transfer
This refers to the subtraction of debt servicing (yearly payments -
interest + capital sum - to the industrialised countries) from the
year's gross payments (loans) made by the creditors. The net financial
transfer is said to be positive when the country or continent
concerned receives more (in loans) than it pays out. It is negative if
the sums repaid are greater than the sums lent to the country or
continent concerned. Since the mid- 1980s, the IMF earns more from
sub-Saharan Africa than it lends it. The net financial transfer is thus
negative in this region of the world.
FOREIGN DIRECT INVESTMENT (FDI) (TAKEN FROM
CHESNAIS 1994)
Foreign investment can take the form of direct investment or portfolio
investments. Even though it is sometimes difficult to distinguish