Page 164 - Annual Report 2552

PDMO PUBLIC DEBT

MANAGEMENT
OFFICE

Public Debt Composition
Public Debt as of 30th September 2009 is composed of 90 percent domestic and the remaining 10

percent foreign. A comparison with last year’s shows a small increase of domestic debt portion as sufficient
market liquidity and government capacity to raise fund via bond issues led to more domestic debt issuance.

The ratio of short term to long term debt, where short term debt represents loans with remaining
maturity within 1 year, was 16:84 at the end of 2009 (13:87 last year). This reflects a shift towards shorter

maturity loans as market demand for longer maturity investment reduced. Also, it is in line with a decrease
of ATM from 5.73 years to 5.49 years. ATM is an indicator for refinancing risk which tells that the public debt

portfolio will need to be refinanced on average within 5.49 years.
The ratio of foreign debt denominated in US dollar, Euro and Yen was 19 : 16 : 65 respectively.

2009 saw an increase in Yen composition and a reduction in the portion of both US dollar and Euro
denominated loans. This is due to gradual disbursement of Yen dominated loans and a prepayment of Asian

Development Bank (ADB) loans denominated in US dollar worth 43.747 million US dollars or equivalent to
1,459.70 million baht.

Public Debt Public Debt
Debt Composition
th
th
as of 30 September 2008 as of 30 September 2009
Total Debt (million baht) 3,408,331.40 4,002,031.45

External :Domestic 11:89 10:90

Short Term : Long Term 13:87 16:84

Average Time to Maturity (ATM) 5.73 5.49

Fixed : Float 90:10 89:11

USD : EUR : JPY 25:17:58 19:16:65

Source: Public Debt Management Office

รายงานประจำาปี 2552 ANNUAL REPORT 2009 163