Singapore, World Highest External Debt Per Capital : Each Singaporean Owes S$580,000
#21
9-10-2019 8:16 AM
Levin said:
At the end of 2017, the IMF measured Singapore’s national debt to GDP ratio as 110.86%. This is the 13th highest in the world when expressed as a percentage of GDP.

However, no one seems to be worried about the country’s national debt.
This is because, the headline figure reported by the IMF was gross national debt.

When economists examined Singapore’s net national debt, they discovered that the country owes nothing at all. The difference between gross national debt and net national debt is that the first just takes account of what the country has borrowed. The second deducts the cash, shares, debentures, and bonds that the country holds and deducts those values from the gross debt figure. As the Singaporean government’s assets outweigh its debts, the country has a net debt to GDP ratio of 0%

Thus, despite having that large gross debt, the country has a very good credit rating.

Read more at: https://commodity.com/debt-clock/singapore/.

GIC has a total assets of S$ 390 bn under management of which GIC owes from CPF members S$375 bn on the Liability side.
So, substantially CPF members monies gone to fund GIC investment portfolio, and imagine, without CPF monies, GIC only left with S$ 15 bn on its Balance Sheet .

In fact, CPF members have been keeping GIC alive for past many years..

As for "AAA" rating, Singapore pays yearly commission to both S&P and Moody for rating which no other OECD countries will do.
[+] 1 user Likes sukhoi35's post
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#22
9-10-2019 9:30 AM
sukhoi35 said:
It grew to 2 Trillion SGD in second quarter to 2019... this present Government really know how to spend

https://tradingeconomics.com/singapore/external-debt

[Image: singapore-external-debt.png?s=singaporee...2=20191231]


This is the total external debt. Most of it is due to banks. The govt debt is SGD 570 million. (Source: https://tradingeconomics.com/singapore/government-debt)

[Image: singapore-government-debt.png?s=singapor...2V20190821]

I think maipenrai has already posted the explanation here: https://sgtalk.org/mybb/Thread-Singapore...pid3683109

Excerpt :

Much of these gross external debts can be traced to the debt liabilities in Singapore's banking sector - a reflection of Singapore's stature as a major international financial centre.

When a bank receives a deposit from a saver, this is recorded as a liability on its books as it is considered as a "loan" from the saver. When the bank lends out the money, this is recorded in its books as an "asset" because it has given a loan to a borrower.

As a major financial centre, Singapore receives large inflow of capital from overseas and a substantial portion of this money is deposited with its banks. This is recorded as external liabilities or borrowings. That means that much of the so-called gross debts reflected in the Wiki article are, in fact, deposits kept in Singapore banks by overseas banks and depositors.

This money is then recycled by the banks to lend to big overseas borrowers when they take up loans from Singapore-based lenders. Once that happens, it becomes part of Singapore's external assets.
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#23
9-10-2019 9:25 AM
sukhoi35 said:
When the crunch comes, everyone will have to pay the price


Any major financial crisis start squeezing liquidity would cause the govt to introduce series of sudden reforms and austerity measures that will led to impoverishment and loss of income and property.
Possibly, hundreds or thousands highly educated and professionals may leave the country too.

If crunch comes, the munistirs will b the first to fork out moni bcos they r the ones who caused it
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#24
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That means that much of the so-called gross debts reflected in the Wiki article are, in fact, deposits kept in Singapore banks by overseas banks and depositors.
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So, those " deposits " kept in Singapore banks by overseas banks and depositors are the same as Singapore banks "borrowing" from overseas. Right?

The word Deposits = Borrowings (i.e. "owings")
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#25
9-10-2019 12:07 PM
sukhoi35 said:
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That means that much of the so-called gross debts reflected in the Wiki article are, in fact, deposits kept in Singapore banks by overseas banks and depositors.
Unquote

So, those " deposits " kept in Singapore banks by overseas banks and depositors are the same as Singapore banks "borrowing" from overseas. Right?

The word Deposits = Borrowings (i.e. "owings")

You failed your economics. You need to relearn
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#26
the national debt is a virus in resident devil 9 1st world govt sytem). itlink to power currupt that make citizen live in hardship life.
Citizen Power Game for Citizens to work together to Build a New Social System.

https://www.tapatalk.com/groups/singapor...apore-f24/
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#27
there is nothing wrong with debt. there are good one and there are bad one.
believes sin city debt is good one, generating more income with other people money.
and also very solvent with good liquidity.
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#28
9-10-2019 12:40 PM
sclim said:
there is nothing wrong with debt. there are good one and there are bad one.
believes sin city debt is good one, generating more income with other people money.
and also very solvent with good liquidity.

good one, they no need resposible the national deby in power. the bad on citizen toshoulder the national debt thru high cost living/ tax increase/ delay people retire age.
Citizen Power Game for Citizens to work together to Build a New Social System.

https://www.tapatalk.com/groups/singapor...apore-f24/
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#29
.."bring in overseas money keep in sg banks....etc etc ".
Sg debt doesnt mean sg go and literally borrow from somebody etc etc ?
V chimp.. somebody kindly expl in layman term
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#30
9-10-2019 12:52 PM
CanBeDone said:
.."bring in overseas money keep in sg banks....etc etc ".
Sg debt doesnt mean sg go and literally borrow from somebody etc etc ?
V chimp.. somebody kindly expl in layman term

Banks Report to Central Bank MAS.
Form showing as
Money due to customers
Money due to Banks
And
Money due from Customers
Money due from Banks

So, all banks deposits and borrowings are grouped together as "Money due to Banks"
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