Less net capital inflows to developing countries: Report
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Less net capital inflows to developing countries: Report

Last Updated: Friday, December 21, 2012, 14:22
 
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Less net capital inflows to developing countries: Report
Washington: Net external debt inflows and aggregate net capital inflows to developing countries fell in 2011, driven by a sharp contraction in net inflows from official creditors and a collapse of portfolio equity flows, the World Bank reported Thursday.

Net external debt inflows to developing countries fell 9 percent in 2011 to USD465 billion due to the sharp contraction in inflows from official creditors, which fell to USD30 billion from USD73 billion in 2010, reported Xinhua.

Aggregate net capital inflows, which tally both debt and equity, also fell 9 percent in 2011 to USD1,107 billion, compared with USD1,211 billion in 2010. The downturn was due to the collapse in portfolio equity flows, which fell to USD2 billion, in contrast to an inflow of USD120 billion in 2010.

The decreases were partially offset by inflows from commercial banks, sustained access to international bond markets and a rise in foreign direct investment, the Washington-based global lender said.

It also reported that China received 27 percent of net debt and 35 percent of net equity flows to all developing countries in 2011.

When China is excluded, net external debt inflows and aggregate net capital inflows to developing countries fall 13 percent and 3 percent respectively in 2011, compared with 2010, according to the report.

IANS



First Published: Friday, December 21, 2012, 14:22


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