| Code | FI.RES.TOTL.DT.ZS |
| Indicator Name | Total reserves (% of total external debt) |
| Short definition | Reserve assets are external assets, including monetary gold, that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be denominated and settled in foreign currency. This indicator is expressed as a percentage of total external debt which are all liabilities that require payment(s) of interest and/or principal by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy. |
| Long definition | Reserve assets are external assets, including monetary gold, that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be denominated and settled in foreign currency. This indicator is expressed as a percentage of total external debt which are all liabilities that require payment(s) of interest and/or principal by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy. |
| Source | International Debt Statistics, World Bank (WB) |
| Topic | Economic Policy & Debt: Balance of payments: Reserves & other items |
| Dataset | WDI |
| Unit of measure | % |
| Periodicity | Annual |
| Reference period | 1971-2023 |
| Aggregation method | Weighted average |
| Statistical concept and methodology | Methodology: Monetary and Financial statistics are compiled in accordance with international standards: Monetary and Financial Statistics Manual, 2018 or 2004 versions. Specific information on how countries compile their Monetary and Finance statistics can be found on the IMF website: https://dsbb.imf.org/
Statistical concept(s): The conceptual framework comes from the Monetary and Financial Statistic Manual which outlines the analytical presentation of monetary statistics, which provide critical inputs for monetary policy formulation and monitoring. The statistics covered in this Manual also support the assessment of financial system stability. |
| Development relevance | This indicator is related the monetary and financial statistics. Monetary and financial statistics are crucial as they offer a detailed picture of a country's financial condition and the workings of its monetary system. This encompasses information on the money supply, prevailing interest rates, and the activities of financial institutions. Central banks and policymakers rely on these statistics to craft monetary policy, manage interest rates, and regulate inflation. For investors and market analysts, these figures provide a window into the financial sector's stability and performance, guiding investment decisions and risk evaluations. They also shed light on the circulation of money within the economy, which has direct implications for consumer spending, business investments, and the overall trajectory of economic growth. Ultimately, these statistics play a pivotal role in ensuring economic stability and promoting sustainable development. |
| License URL | https://datacatalog.worldbank.org/public-licenses#cc-by |
| License Type | CC BY-4.0 |
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