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Appendix Table 5
Gross Private Sector Indebtedness*
(% of GDP)	1999	1998	1997	1996	1995	1994	1993	1992
5%-15%
Australia	105	96	90	87	85	83	84	87
Belgium	N.A.	89	87	86	85	87	89	89
Canada	118	113	111	105	98	97	98	99
Denmark	152	149	134	132	128	136	143	148
France	N.A.	95	94	92	93	97	99	96
Germany	133	138	132	127	122	121	117	113
Luxembourg	100	109	105	101	101	98	N.A.	138
Netherlands	N.A.	128	131	122	114	110	105	99
Sweden	123	117	114	139	136	163	169	171
Switzerland	221	219	216	208	208	208	201	203
U.K.	171	168	173	175	157	145	154	137
U.S.	158	146	134	122	113	103	101	100
10%-20%
Austria	N.A.	113	111	106	104	101	102	100
Chile	98	98	89	82	72	70	70	63
Finland	74	70	64	72	75	86	98	104
Hong Kong	N.A.	N.A.	188	180	172	163	157	151
Ireland	126	115	111	98	93	70	68	76
Italy	N.A.	81	76	74	77	80	83	82
New Zealand	146	140	125	120	111	105	112	120
Norway	124	124	114	109	111	93	95	97
Portugal	143	115	101	92	85	80	79	66
Singapore	129	132	124	111	113	101	99	99
South Africa	75	73	68	66	64	89	85	84
Spain	124	125	112	103	104	89	91	91
Taiwan	157	161	160	158	162	158	149	137
15%-30%
Argentina	36	36	32	27	26	26	21	18
Colombia	54	54	56	54	49	46	44	38
Estonia	29	28	28	20	16	15	13	N.A.
Hungary	39	38	35	33	33	34	33	38
Israel	92	89	82	78	77	75	72	65
Japan	207	213	206	208	210	209	207	207
Panama	386	387	387	399	406	405	389	390
Philippines	66	76	79	67	56	48	43	36
Poland	41	33	27	24	20	20	22	22
Slovenia	51	47	43	43	39	67	56	63
Uruguay	43	37	34	32	32	34	39	43
25%-40%
Bolivia	67	70	63	58	52	55	52	46
Brazil	52	55	46	45	47	68	119	81
Croatia	60	61	55	42	42	40	61	N.A.
Cyprus	118	117	109	101	92	87	85	80
Greece	57	53	48	43	42	41	43	45
Korea	167	174	148	133	122	118	112	106
Kuwait	73	93	65	47	45	57	54	65
Lebanon	102	93	84	80	72	60	58	67
Malaysia	166	177	168	150	139	124	112	113
Morocco	63	59	57	53	56	51	53	51
Oman	56	58	44	35	35	31	29	26
Peru	34	34	29	28	22	20	17	16
Saudi Arabia	72	72	57	58	63	64	61	56
UAE	67	69	58	51	53	52	46	42
35%-70%
Bulgaria	20	19	22	63	40	51	68	78
China	118	112	102	93	87	89	98	91
Czech Republic	84	87	95	90	88	92	82	N.A.
Egypt	75	69	63	60	54	51	48	46
India	23	24	24	24	23	24	24	27
Indonesia	68	94	96	83	72	68	66	66
Kazakstan	30	23	17	14	16	29	52	N.A.
Latvia	39	36	29	23	22	27	18	N.A.
Lithuania	25	23	24	19	24	27	22	N.A.
Mexico	26	31	29	27	39	46	38	33
Pakistan	27	27	27	27	27	27	28	27
Romania	13	16	16	27	25	19	24	32
Russia	22	20	14	11	13	22	23	N.A.
Slovak Republic	88	85	79	60	51	58	75	N.A.
Thailand	136	184	196	167	158	147	134	123
Tunisia	71	68	67	66	71	70	70	69
Turkey	41	41	41	34	28	27	26	24
Venezuela	16	18	20	15	19	26	34	37
*Includes nonbank borrowings from the domestic financial system and from nonresidents. N.A.-Not available. Source: International Financial Statistics, IMF, national authorities, and Standard & Poor's estimates.