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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.
International Monetary Fund (IMF), "External Debt Statistics: Guide for Compilers and Users; Appendix III. Glossary of External Debt Terms", Washington D.C., 2003