Summary methodology: Central Government Debt

I. Analytical Framework, Concepts, Definitions, and Classifications

2.1.1 Concepts and definitions

    • Definition:   Central government debt is defined as the total of debt liabilities arising from state borrowing by the Republic of Belarus as a borrower or securities issuer. The debt guaranteed by the central government corresponds to the loans issued by banks to the residents of the Republic of Belarus and guaranteed by the Government of the Republic of Belarus.

2.3.1 Classification/sectorization

    • Maturity: Domestic and external debt data are broken down by maturity into loans of up to 1 year (short term), and loans of more than 1 year (medium to long term). The domestic and external debts are classified according to original maturity.
    • Residency: Central government debt data are disaggregated into domestic and foreign debt. The distinction between domestic and foreign debt is based on the residency criterion of the sixth edition of the IMF's Balance of Payments Statistics Manual ((BPM6), and the Manual on Government Finance Statistics 2001 (MGFS 2001).

State securities placed in the internal financial market are treated as a part of the domestic debt of the central government irrespectively of the residency of their holders.

State securities placed in external financial markets are treated as a part of external debt of the central government irrespectively of the residency of their holders.

II. Scope of the data

2.2.1 Scope

Scope of the data
Institutional coverage: Data cover central government debt and debt guaranteed by the central government.  
Data are disseminated on the following:

    • Direct debt of the central government and debt guaranteed by the central government, broken down into external and domestic debt;
    • Direct debt, broken down into domestic and external debt;
    • Domestic debt, broken down by maturity into loans of up to 1 year (short term), and loans of more than one year (medium to long term);
    • External debt, broken down by maturity into loans of up to 1 year (short term), and loans of more than one year (medium to long term);
    • Debt guaranteed by the central government, broken down into domestic and external debt.

III. Accounting Conventions

2.4.1 Valuation

Valuation practices: The amount of central government debt is calculated at face value of debt liabilities.

Debt denominated in foreign currency are converted to Belarusian rubles at the official exchange rates provided by the National Bank of the Republic of Belarus.

2.4.2 Recording basis
Debt is recorded on accrual basis.

2.4.3 Grossing/netting procedures
Gross vs. net: Debt data are disseminated on a gross basis.

IV. Nature of the Basic Data Sources

3.1.1 Source data collection programs

  • Data sources: Information on the volume and composition of central government domestic and external debt is derived from the registers and records of Public Debt Department under the Ministry of Finance of the Republic of Belarus.
  • Government guaranteed debt: Data on debt guaranteed by the central government are compiled based on the records from the Ministry of Finance of the Republic of Belarus, and reports from banks and ultimate borrowers.

V. Compilation Practices

3.3.2 Other statistical procedures
Consolidation: data are reported on a consolidated basis.

3.4.3 Assessment of discrepancies and other problems in statistical outputs
Detected statistical discrepancies are investigated and resolved.

VI. Other Aspects

5.1.5 Dissemination on request
Unpublished data are distributed according to the concluded treaties.