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Finally, legal improvements also affect firms' level of external debt and their capital structure.
report notes, and the United States faces an "unprecedented level of external debt for a large industrial country".
"We didn't feel comfortable with the level of external debt and lack of transparency" in Dubai, he said.
While the credit agency did express concern about Australia's level of external debt it noted that this is "mostly generated by the private sector" and reflects "the productive investment opportunities available in Australia, foreign investor confidence in Australia's rule of law, the high creditworthiness of its banking system, and the positive yield available on highly rated debt".
Moody's said China's long-term foreign-currency debt was under review for a possible upgrading in recognition of China's rising exports, foreign direct investment and foreign exchange reserves and its "relatively modest level of external debt," as well as the recent peaceful transfer of power to a younger generation of Communist officials.
"By reducing De Beers's level of external debt and improving its capital structure, this investment would better enable the company to take advantage of new opportunities and demonstrate the shareholders' confidence in De Beers's continued market leadership as the recession gives way to recovery," De Beers said.
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Third, public borrowing accelerates markedly ahead of a sovereign debt crisis; governments often have "hidden debts" that far exceed the better documented levels of external debt.
Portugal, another peripheral economy in the euro zone that is suffering from high levels of external debt, has canceled big investments like its new airport.
As well as being burdened by unsustainable levels of external debt, all five economies share the misery of trying to regain lost competitive ground through internal devaluation, in which domestic costs are ground down year after year.
South Korea has maintained higher levels of external debt than have Japan and China, raising concerns that the country will be harder hit by the global credit crisis.
The vulnerabilities in many CEE countries–high foreign-currency borrowing, hefty levels of external debt, massive current-account deficits–suggest the classic makings of a capital account crisis à la Asia in the late 1990s.
More suggestions(16)
level of external standard
level of external air
level of external manipulation
level of external force
level of external inoculum
level of external locus
level of external support
level of external stress
level of external validation
level of external eating
level of corporate debt
level of external indebtedness
level of external input
level of external testing
level of external disturbance
level of external assistance
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