Villiers, to his credit, immediately resigned and took responsibility for his official debts.

The same apply to costumers with official debts and who due to that fact gets declined a subscribtion.

Poland owes commercial banks about $9 billion and has official debt of around $30 billion.

Indeed, the Philippines is reported to have said it would like to erase part of its $28.9 billion in official debt.

At that point, official debt (not including personal borrowings) will be almost twice the government's entire annual revenues.

Rescheduling of official debt is contingent on an agreement with the fund.

That's almost eight times the size of the official gross federal debt.

Governments can provide direct help by contributing to currency stabilization funds and reducing official debts.

That's 11 times our official national debt and also greater than our total net worth, meaning that in some sense we're bankrupt.

He also wanted creditors to refinance all interest payments on official debt.