In order to reduce this external indebtedness, the periphery must now rapidly close both its current account and fiscal deficits.

It is designed to prevent and correct risky macroeconomic developments, such as high current account deficits, unsustainable external indebtedness and housing bubbles.

Official meetings come and go, but the underlying global problems of trade imbalances, unsustainable levels of external and internal indebtedness and loss of competitiveness remain.

According to Israel's Finance Ministry, "Israel has never defaulted in the payment of principal or interest on any of its internal or external indebtedness."

Set limits on the net foreign exchange position and on the terms and amount of external indebtedness of banks and other financial institutions.

They extinguished billions in external indebtedness by generating and sustaining large current-account surpluses.

The underlying global problems of trade imbalances, unsustainable levels of external and internal indebtedness and loss of competitiveness remain.

Source of funds includes increases in net external indebtedness of the public sector and the net inflow of foreign direct investment.

We all agree that for some developing countries external indebtedness is a major obstacle to growth and development.

Meanwhile, there are, of course, objective indicators, such as the general government deficit or external and internal indebtedness.