What is the difference between General Government Gross and Net Debt?
A. General Government Gross debt comprises the stock (at year-end) of all government liabilities (both to residents and nonresidents). On the other hand, net debt refers to government liabilities minus government assets (domestic as well as foreign). For more information, see the Country/Series-specific notes at the end of your query. To avoid double counting, the data are based on a consolidated account (eliminating liabilities and assets between components of the government, such as budgetary units and social security funds). Fiscal data reflect national accounts definitions. If you would like more information, see the list of manuals and guides provided from the IMFs “Data and Statistics” section (http://www.imf.org/external/data.htm#guide) under the heading “Guides & Manuals”.
A. General government gross debt refers to recognized financial liabilities of the general government that are serviced through interest and/or principal payments. Examples are debt securities issued (such as bills and bonds), loans obtained, and other accounts payable. Guaranteed debt is excluded from government gross debt until called. On the other hand, general government net debt refers to gross debt of the general government minus its financial assets in the form of debt instruments. Examples of financial assets in the form of debt instruments are governments investment in other entities debt securities (such as bills and bonds), loans extended by government, and other accounts receivable. For more information, see the Country/Series-specific notes at the end of your query. To avoid double counting, the data are based on a consolidated account (eliminating liabilities and assets between components of the government, such as budgetary units and social security funds).
