Improving Public Debt Management
In the OIC Member Countries
54
Figure 3-10: Interest Rates on Public Debt in OIC Member Countries
Note: The graph displays the average interest rate on newly committed public debt contracts in a given year.
Sources: World Bank (2016) International Debt Statistics, calculations by the Ifo Institute.Currency Risk
Currency compositionThe currency composition determines the effects of exchange rate changes on public debt.
Figure 311 shows the currency composition of external public debt in the OIC countries over
the period 20062014. In 2014, the largest share of external debt in OIC countries was
denominated in U.S. Dollars (51.3%), followed by Euro (15.4%), Special Drawing Rights (6.6%)
and Japanese Yen (3.2%). The share of external public debt denominated in U.S. Dollar and
Special Drawing Rights (SDR) has increased between 2006 and 2014 while the share of
external public debt denominated in Euro has been relatively constant. The share of external
public debt denominated in Japanese Yen has decreased. The share of external debt
denominated in Euro is higher in middleincome countries than in lowincome countries (see
lower left panel of Figure 311). In lowincome countries the share of SDR is higher than in
middleincome countries.
0
2
4
6
8
%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Year
All Official creditors Private creditors
0
2
4
6
8
%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Year
All Low income
Middle income
1
2
3
4
%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Year
All Arab group
Asian group African group