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Tuesday, 11 August 2009
Page: 4613


Senator Bob Brown asked the Minister representing the Minister for Trade, upon notice, on 12 May 2009:

With reference to the countries that are indebted to Australia: (a) which countries have debts generated by the Export Finance and Insurance Corporation (EFIC); and (b) for each country, what is the Australian dollar amount of its debt.


Senator Carr (Minister for Innovation, Industry, Science and Research) —The Minister for Trade has provided the following answer to the honourable senator’s question:

Sovereign debt in relation to EFIC, by country and amount1, is provided below:

 

A$ million

China

45.8

Cuba

9.7

Egypt2

203.6

Indonesia

958.0

Iraq3

365.1

Philippines

140.0

Sri Lanka

80.1

Trinidad and Tobago

57.4

Turkey4

100.8

Vietnam

17.2

——————

1 The above exposures are as at 30 April 2009, and reflect exchange rate conversions to Australian dollars on that date.   The exposures cover loans and export finance guarantees.

2   Egypt exposure includes debt due to the Australian Government, EFIC and Australian exporters.

3 Iraq exposure includes debt due to the Australian Government, EFIC and Australian exporters.

4 Municipality of Istanbul (sub-sovereign) risk.