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Debt refinancing refers to the conversion of the original debt including arrears, into a new debt instrument. In other words, overdue payments or future debt-service obligations are “paid off” using a new debt obligation. In the Guide, as in BPM5, a change in the terms of a debt instrument is to be reported as the creation of a new debt instrument, with the original debt extinguished.

Source Publication:
IMF, 2003, External Debt Statistics: Guide for Compilers and Users – Appendix III, Glossary, IMF, Washington DC.


Statistical Theme: Financial statistics

Created on Wednesday, August 27, 2003