Macroeconomic facts and sources

This is the research companion piece for my article on MMT & International Trade. Here are my notes. 

According to my researches, and sourced from the Bank of England, the UK Govt. Foreign Debt holdings is about $22 bn. Source BoE pqqlaau.

The UK GDP is £2,320 bn, the public sector debt in foreign currency is under 1% of the GDP.

ONS reports total foreign debt at £6.6 trillion, really, check this!

  1. The Balance of payments  at the ONS
  2. The UK economy at Wikipedia

The UK Balance of Trade has been running a deficit for decades and the UK imports 48% of its food.

Your food is global

The BoT on Energy is no longer in surplus, UK Gov “Energy Trade Stats”

How much of the UK Gilt market is foreign owned? https://www.dmo.gov.uk/data/gilt-market/ would seem to apply. Is it really 28%? What is the unit of measurement? The UK public debt is what?

  1. https://tradingeconomics.com/united-kingdom/government-debt-to-gdp
  2. https://www.economicshelp.org/blog/334/uk-economy/uk-national-debt/ 83% of GDP May 2019

There is a financial services instrument called an FX Swap. This consists of reciprocal loans of stocks of currency. i.e. there is a promise to return the monies. In an FX trade, there is no promise to return the monies.  = https://www.bis.org/publ/qtrpdf/r_qt0803z.htm

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