Sub-Saharan Africa (excluding high income): PNG, bonds (NFL, current US$)

Key figures

What the numbers say

In 2024, Sub-Saharan Africa (excluding high income)'s PNG, bonds (NFL, current US$) rose US$1.69 billion on 2023 (from −US$1.32 billion to US$368.18 million).

Across the 22 yearly changes before that (1996 to 2023), the average change was −US$262.22 million and a typical year strayed about US$2.41 billion from that (the standard deviation). This year's change was 0.8 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was US$3.7 billion in 2021 and the biggest yearly fall was US$6.81 billion in 2008. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 12% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

What this measures

Nonguaranteed long-term debt from bonds that are privately placed. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.

Regional and income-group figures are computed by the World Bank as a sum.

All 26 values

PNG, bonds (NFL, current US$) in nearby economies

• Lebanon — −US$300 million (2023)

More economic policy & debt data for Sub-Saharan Africa (excluding high income)

• Charges for the use of intellectual property, payments (BoP, current US$) — US$3.07 billion (2025)
• Portfolio equity, net inflows (BoP, current US$) — −US$472.27 million (2025)
• GDP (current US$) — US$2.21 trillion (2025)
• GDP (constant 2015 US$) — US$2.13 trillion (2025)
• GDP per capita (current US$) — US$1,671 (2025)
• GDP per capita (constant 2015 US$) — US$1,614 (2025)
• GDP (annual % growth) — 4.14% (2025)
• GDP per capita (annual % growth) — 1.64% (2025)

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Questions people ask

What is Sub-Saharan Africa (excluding high income)'s PNG, bonds (NFL, current US$)?

US$368.18 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is up 5.19% from US$350 million in 1995 (0.17% a year on average, compounded). The highest value was US$5.3 billion in 2007 and the lowest −US$2.81 billion in 2020.

Is the latest change in PNG, bonds (NFL, current US$) unusual for Sub-Saharan Africa (excluding high income)?

In 2024, Sub-Saharan Africa (excluding high income)'s PNG, bonds (NFL, current US$) rose US$1.69 billion on 2023 (from −US$1.32 billion to US$368.18 million). Across the 22 yearly changes before that (1996 to 2023), the average change was −US$262.22 million and a typical year strayed about US$2.41 billion from that (the standard deviation). This year's change was 0.8 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator DT.NFL.PNGB.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB), uri: https://www.worldbank.org/en/programs/debt-statistics, note: https://www.worldbank.org/en/programs/debt-statistics Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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