Сыртқы қарыз және экономикалық тұрақтылық

A country's liabilities owed to nonresidents by residents
A country's gross external debt (or foreign debt) is the liabilities that are owed to nonresidents by residents. The debtors can be governments, corporations or citizens. in India it is classified in seven heads:
(a) Multilateral,
(b) Bilateral,
(c) IMF loans,
(d) Trade credit,
(e) Commercial borrowings,
(f) Non resident Indian and person of Indian origin deposits,
(g) Rupee debt, and
(h) NPR debt.

Sustainable debt is the level of debt which allows a debtor country to meet its current and future debt service obligations in full, without recourse to further debt relief or rescheduling, avoiding accumulation of arrears, while allowing an acceptable level of economic growth. External debt sustainability analysis is generally conducted in the context of medium term scenarios. These scenarios are numerical evaluations that take account of expectations of the behavior of economic variables and other factors to determine the conditions under which debt and other indicators would stabilize at reasonable levels, the major risks to the economy, and the need and scope for policy adjustment. In these analyses, macroeconomic uncertainties, such as the outlook for the current account, and policy uncertainties, such as for fiscal policy, tend to dominate the medium term outlook. The World Bank and IMF hold that "a country can be said to achieve external debt sustainability if it can meet its current and future external debt service obligations in full, without recourse to debt rescheduling or the accumulation of arrears and without compromising growth". According to these two institutions, "bringing the net present value (NPV) of external public debt down to about 150 percent of a country's exports or 250 percent of a country's revenues" would help eliminating this "critical barrier to longer term debt sustainability". High external debt is believed to be harmful for the economy.