FINANCING ISRAEL'S TRADE and NATIONAL DEFICITS
Nontradable and Non-US guaranteed tradable bond placements

Recent Israeli non US-guaranteed tradable bond placements 1995-2002
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Recent Israeli non-US guaranteed bond placements 1995-2002 (Horizontal Bar Chart)
 Proportion of outstanding external debt attributed to non US-guaranteed tradable bonds
Note: In an effort to diversify its overseas debt portfolio the Israeli government placed seven non-US guaranteed bond issues in the United States, Europe and Japan. In 2002 the value of Israel's outstanding non-US guaranteed tradable bond debt was US$1.94  billion, or 7.2% of Israel's outstanding external debt.  Unlike non-tradable bonds that are privately placed through carefully selected and cultivated financial networks, tradable bonds -- whether they are guaranteed by the US government or not -- are actively traded in secondary markets, where both traders and dealers can be more easily identified.
Source: Government of Israel. Ministry of Finance. Government Debt Management Unit. Annual Report 2002. [online document] EARTH's copy is available on request.
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