Improving Public Debt Management
In the OIC Member Countries
51
Figure 3-7: Creditor Structure of Public Debt by Country (2015)
Note: Data for Brunei Darussalam, Kuwait, Libya, Palestine, Somalia, Turkmenistan, and UAE is not available.
Sources: IMF Country Reports (see 4.1 Case Countries), national central banks, national Ministries of Finance,
Moody’s, World Bank (2016) International Debt Statistics, calculations by the Ifo Institute.Grant Element
Figure 38 shows the grant element of loans, defined as the grant equivalent as a percentage of
the amount committed. The average grant element in OIC countries has been about 50% since
2006, similar to the worldwide average. Grants are primarily extended by official creditors,
while private credit contracts have a small grant element. Grants to lowincome countries are
more generous than to middleincome countries (see lower left panel of Figure 38). The grant
element is particularly high in the African group (see lower right panel of Figure 38).
0
10
20
30
40
50
60
70
80
90
100
Share of total public debt (in %)
Saudi Arabia
Bahrain
EgyptIran
LebanonNigeria
SyriaQatar
Kazakhstan
YemenPakistanMaldivesTurkey
Guinea-Bissau
Jordan
Bangladesh
MalaysiaGuinea
Togo
Albania
SurinameMoroccoGambia
Indonesia
ChadOman
Côte d'Ivoire
TunisiaUganda
BeninIraq
Cameroon
Senegal
Sierra LeoneBurkina Faso
Guyana
NigerMali
AlgeriaGabon
Mozambique
Tajikistan
Sudan
ComorosMauritania
Djibouti
Kyrgyz Republic
AzerbaijanAfghanistanUzbekistan
Domestic creditors External creditors