(MENAFN) The global ratings agency S&P Global has predicted an USD315bn or 4 percent fall in commercial borrowing by the 130 sovereigns it recently rates, to reach USD6.8tr in 2017.
Meanwhile, Asia-Pacific sovereigns are projected to borrow USD2.6tr, 38 percent of the total, mostly by Japan and China and India, trailed by the North America at 35 percent.
Almost 77 percent, or USD5.2tr, of sovereigns' gross borrowing will be to refinance maturing long-term debt, resulting in net borrowing requirement of USD1.6tr.
In addition, the USD315bn reduction is projected gross long-term commercial borrowing from 2016 is mostly due to a reduced borrowing forecast for some large issuers; Japan at -USD270bn.
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