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Israel's International Investment Position and the External Debt General explanations
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IIP Report
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The International Investment Position (IIP) Report, constructed in accordance with the definitions of the IMF, presents the balance of Israel's foreign assets and liabilities vis-a-vis nonresidents (which is identical with the balance of nonresidents' assets in Israel), at two points in time-usually at the beginning and end of a quarter, or at the beginning and end of a year. The report also presents the changes in these balances during the quarter or year. These changes derive from various items: flows, changes in the prices of assets and liabilities, exchange-rate differentials, and other adjustments. The data and classification of flows, which reflect the total amount of transactions vis-a-vis abroad, are identical with the flows presented in the financial account of Israel's balance of payments and include three main components: direct investment (parties at interest), portfolio investment, and other investment. In effect, the IIP Report encompasses all the kinds of transactions and financial assets and liabilities, whether debt instruments (credit, deposits, and bonds) or capital instruments (principally investment in equity).
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The IIP Report connects data on balance-of-payments flows with data on the balance of assets and liabilities vis-a-vis abroad, thereby making it possible to analyze changes in these balances and increases the credibility of the National Accounts data. The report is published in two versions: a short version (in Hebrew), which presents only the main items, and a more detailed version (in English), which is in line with the standard set by the IMF.
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External debt
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The external debt tables include cross-sectional data on Israel's outstanding debt vis-a-vis abroad, namely, types of debt, economic sectors, payment schedules, and currencies. In addition to the data on the gross debt, data on assets abroad and net liabilities are also given. In contrast to the IIP data, the external debt data include only debt instruments-i.e., credit and loans (including commercial credit), bonds, and deposits, and do not include capital instruments, namely, direct and portfolio investment in equity.
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For additional information please contact:
Mr. Yehiel Rehavi - yehreh@bankisrael.gov.il
Mr. Weingarten Asher - ashw@bankisrael.gov.il
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