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Graph 19 Real net foreign debt (a) - March 1996 to March 2006

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Graph 19

Real net foreign debt (a) - March 1996 to March 2006

(a) To convert net foreign debt to real terms, the current-price figure has been divided by the chain price index for domestic final demand. Reference year for chain volume measure is 2003-04.

Table 30

Real net foreign debt (a), by sector - March 1996 and March 2006

	31 March 1996 $ billion	31 March 2006 $ billion	Average annual growth rate per cent
General government	38.7	19.0	-6.9
Other public sector	43.5	-17.0
Private financial corporations	85.1	378.0	16.1
Private non-financial corporations	57.4	87.7	4.3
Australia	224.7	467.8	7.6

Source: Balance of Payments and International Investment Position.

(a) To convert net foreign debt to real terms, the current-price figure has been divided by the chain price index for domestic final demand. Reference year for chain volume measure is 2003-04.

Development expenditure

101. The Australian Overseas Aid Program aims to assist developing countries to reduce poverty and achieve sustainable development, in line with Australia’s national interest. Australian aid helps build a stable, prosperous and democratic Asia-Pacific region, responds to emergencies and humanitarian crises, and targets urgent needs in Africa and the Middle East. The AidPprogram was a central component of Australia’s response to the December 2004 Indian Ocean tsunami disaster, and is helping neighbouring countries address longer-term challenges such as broad-based economic growth, weak governance, instability and HIV/AIDS.

102. In 2005-06, the Australian Government provided an estimated $2.6b in Official Development Assistance (ODA), an increase of $300m over the 2004-05 ODA of $2.3b. Details of ODA to partner countries in 2005-06 are provided in the table below. The ratio of Australia’s ODA to gross national income for 2005-06 is estimated at 0.28 per cent, placing Australia above the donor average which, in the latest year available (2004), was 0.25 per cent.

103. Further information and publications on the Australian Government’s aid program can be obtained from the web site of the Australian Agency for International Development, AusAID: .

Table 31

Australian Official Development Assistance (a) - 2005-2006

	$m
Papua New Guinea and Pacific
Papua New Guinea	324.3
Solomon Islands	235.7
Vanuatu	32.1
Fiji	29.5
Samoa	21.0
Tonga	13.0
Kiribati	12.1
Regional Pacific	70.2
Nauru	16.3
Total	754.2
East Asia
Indonesia (ongoing program)	160.9
Indonesia (AIPRD)(b)	94.1
Vietnam	76.2
Philippines	63.6
China	46.8
Cambodia	42.4
East Timor	43.5
Laos	18.4
Thailand	7.7
Regional East Asia	39.4
Total	592.9
South Asia, Africa and Other
Bangladesh	32.4
India	10.0
Sri Lanka	25.2
Regional South Asia	68.9
Africa	82.5
Middle East and Central Asia	399.4
Total	618.4
Other Government Departments (OGD)(c)	205.0
Core contributions to multilateral organisations, other ODA(d)	480.4
Reconciliation of expenses to cash(e)	-10.1
Total ODA (cash)	2 640.9

Source: AusAID.

(a) Expected Outcome for 2005-06.

(b) Australia-Indonesia Partnership for Reconstruction and Development.

not been allocated to a particular country or region.

(d) Includes core contributions and cash payments to multilaterals that cannot

be attributed to a particular country.

(e) Includes accrual adjustments for non-ODA eligible (administered and

departmental) expenditure.

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