France international debt securities: general government
France international debt securities: general government stood at 74,211 USD million in Q2 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Debt securities holders table (Value · Quarterly), with a complete series running from Q3 1971 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Debt securities holders table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All issuers | 1,472,359 | 1,440,950 | 1,440,031 | 1,450,221 | 1,421,038 | 1,315,241 | 1,289,655 | 1,374,488 | 1,318,517 | 1,322,745 | |
| General government | 74,211 | 72,649 | 62,913 | 61,735 | 57,546 | 34,776 | 35,925 | 45,154 | 31,144 | 33,022 | |
| Financial corporations | 1,043,380 | 1,019,813 | 1,032,336 | 1,043,509 | 1,026,400 | 970,571 | 949,211 | 1,010,421 | 979,262 | 986,705 |
Understanding france international debt securities: general government
Sovereign and public administration obligations placed within international markets represent the specific funding stock measured by this general government external debt indicator. The series compiles all negotiable bonds and notes issued abroad by central, regional, or local government authorities, excluding domestic treasury bills held entirely by local residents. By isolating the public sector, this measure distinguishes state-sponsored international borrowing from private corporate and banking sector liabilities within the broader cross-border debt framework.
Analyzing these sovereign international liabilities demands attention to foreign exchange rate movements, which can significantly alter reported USD values without any underlying change in nominal foreign currency principal. Analysts must distinguish between scheduled sovereign refinancing operations and net new debt accumulation when assessing quarterly stock variations. Comparing public sector external borrowing trends with private financial debt metrics highlights shifts in relative funding reliance between the state and commercial institutions.
Frequently asked questions
- Which levels of government are included in this general government category?
- The measure covers central administrative authorities as well as sub-national entities such as regional or local governments that issue debt abroad.
- Does this metric capture domestic government bonds held by foreign residents?
- No, the dataset focuses on international debt securities defined by issuance characteristics rather than the nationality of the end investor.
- How do currency fluctuations impact the reported figures?
- Since values are expressed in US dollars, appreciation or depreciation of the issuing currency alters the reported stock independently of new debt issuance.