Definition: Capital transfers

External debt - IMF

Capital transfers consists of the transfer—without a quid pro quo—of ownership of a fixed asset or the forgiveness, by mutual agreement between creditor and debtor, of the debtor’s financial liability when no counterpart is received in return by the creditor.
Source:
International Monetary Fund (IMF), "External Debt Statistics: Guide for Compilers and Users; Appendix III. Glossary of External Debt Terms", Washington D.C., 2003
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