EXTERNAL – AUSTRALIA

$1 trillion foreign debt a rating risk

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Original article by David Uren
The Australian – Page: 1 & 6 : 12-May-16

Rating agencies have indicated that Australia’s ballooning foreign debt could prompt a review of the nation’s coveted "AAA" credit rating. Australia’s foreign debt has risen from 50 per cent of GDP to 62 per cent over the last three years, and it is now around $A1trn. Banks account for more than 50 per cent of Australia’s foreign debt, while the federal and state governments account for 25 per cent.

CORPORATES
STANDARD AND POOR’S CORPORATION, MOODY’S INVESTORS SERVICE INCORPORATED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

In hock to the world as debt tops $1 trillion

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Original article by Adam Creighton
The Australian – Page: 6 : 10-Mar-16

National accounts data shows that Australia’s total foreign debt has risen to more than 60 per cent of GDP, compared with just 37 per cent in 1996. Foreign debt has risen from $A180bn to more than $A1trn in the last two decades. The Australian Labor Party’s treasury spokesman, Chris Bowen, notes that public sector debt has blown out from $A90bn to $A250bn since Barnaby Joyce was dropped as finance spokesman when the Coalition was in opposition.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, LF ECONOMICS