The Global Bankers

The following data is derived from the Bank of International Settlements quarterly report on international loans.

Table 1. Consolidated foreign claims by region (billions of US$), mid-2002. The first column on the left are the debtor regions; the next column shows how much they owe, and the next five columns show how much they owe to banks headquartered in each region. For example, 13.2% of Asia/Pacific's $395.3 billion of foreign debt is owed to Japanese banks.

Debtor region Total debt European banks (excl. UK) UK banks Japanese banks US banks Other banks Latin America/Caribbean 491.9 56.5% 5.5% 2.1% 26.6% 9.8% Asia/Pacific 395.3 32.7% 16.2% 13.2% 19.3% 18.6% Europe 293.4 80.1% 3.7% 1.2% 7.1% 7.9% Middle East/Africa 152.7 53.8% 17.9% 3.6% 9.7% 15.0% Total developing countries 1,333.3 54.2% 9.7% 5.3% 18.2% 12.6% Developed countries 10,073.4 57.4% 8.8% 8.2% 5.3% 20.3% Offshore banking centers 935.8 33.9% 24.8% 17.8% 8.3% 15.2% World total 12,419.3 55.1% 10.3% 8.6% 6.9% 19.1%

Table 2. Top 50 Debtor Countries, BIS Data on Consolidated International Claims (billions of US$), mid-2002. The first column is the debtor country, the second is how much each country owes, and the next four columns show how much they owe to banks headquartered in each region.

Debtor Country Total Debt Continental European Banks Japanese Banks UK Banks US Banks Mexico 201.6 55% 1% 3% 32% Brazil 123.9 55% 3% 10% 24% South Korea 86.3 32% 11% 12% 26% Poland 71.1 78% 1% 1% 9% China 53.2 37% 19% 13% 12% Malaysia 51.5 16% 11% 27% 16% Taiwan 43.5 28% 8% 15% 38% Chile 43.1 67% 3% 4% 16% Czech Rep 43.0 91% 0% 2% 4% Argentina 42.1 57% 3% 7% 25% Thailand 41.3 31% 25% 11% 10% Turkey 38.4 57% 4% 8% 9% India 35.9 32% 6% 26% 21% Russia 35.6 73% 1% 2% 10% Indonesia 35.1 47% 20% 10% 9% Hungary 30.7 85% 1% 3% 7% Philippines 22.5 37% 12% 12% 22% South Africa 20.8 50% 6% 9% 17% Venezuela 18.1 66% 3% 9% 15% Saudi Arabia 16.4 35% 9% 20% 12% UAE 15.8 20% 3% 51% 11% Colombia 15.1 57% 5% 7% 24% Peru 14.4 76% 1% 3% 14% Morocco 12.3 85% 1% 2% 2% Egypt 11.7 56% 2% 16% 14% Slovak Rep 11.5 90% 2% 0% 6% Croatia 11.4 91% 1% 2% 1% Israel 10.7 41% 1% 11% 14% Malta 8.3 36% 0% 41% 4% Iran 8.3 73% 2% 4% 0% Cyprus 8.0 59% 0% 9% 3% Pakistan 7.2 43% 4% 22% 15% Kuwait 6.3 51% 7% 19% 9% Slovenia 5.9 86% 1% 0% 0% Uruguay 5.2 57% 0% 5% 26% Romania 5.2 78% 0% 2% 13% Estonia 5.2 97% 1% 0% 0% Qatar 5.2 42% 10% 26% 3% Algeria 4.6 71% 4% 1% 15% Cote d'Ivoire 3.8 89% 1% 2% 6% Tunisia 3.7 77% 0% 2% 10% Lithuania 3.7 93% 2% 1% 1% Oman 3.5 39% 11% 36% 3% Trinidad/Tobago 3.5 28% 1% 8% 26% Cameroon 3.1 88% 0% 8% 3% Latvia 2.7 98% 0% 0% 0% Angola 2.6 84% 0% 6% 4% Vietnam 2.5 41% 10% 15% 15% El Salvador 2.3 26% 0% 5% 48% Nigeria 2.3 42% 2% 12% 29% Mauritius 2.3 46% 0% 34% 4%

Table 3. Composition of net US debts, mid-2002 (assuming US GDP of around $10.5 trillion).

Creditor Net US Debt Net Position as % US GDP Continental Europe $1,297.9 billion 12.4% Japan $365.4 billion 3.5% UK $267.2 billion 2.5% All creditors $1,920.1 billion 18%

Table 4. Global Creditors and Global Debtors, mid-2002 (total loans owned minus total loans owed). Note that GDP figures assume 1.1 EUR = 1 US$ = 110 Jpn yen -- a polite way of saying, if the dollar crumbles, US debts will skyrocket.

Zone/Country Status Net Position Net Position as % Zone/Country GDP Continental Europe creditor +$2,199.1 billion +32% Japan creditor +$482.1 billion +11% US debtor -$1,920.1 billion -18% UK debtor -$369.2 billion -28%

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