I'm not talking about Government debt, I know that is relatively under control. My question was about external debt. It seems it is a function of the IFSC and MNC's that are here. At 680% of GDP it's high but Luxembourg's is nearly 5000%.
Does External Debt not include all private sector external debt? If so, would the activities of the big multinationals not impact on this (tax based in Ireland but "owing" money to their US headquarters) ?
"Don't confuse public debt with gross external debt. That's the amount owed to foreign investors by both the government and the private sector. Public debt impacts external debt, but they are not one and the same" https://www.thebalancemoney.com/what-is-the-public-debt-3306294
Does External Debt not include all private sector external debt? If so, would the activities of the big multinationals not impact on this (tax based in Ireland but "owing" money to their US headquarters) ?
"Don't confuse public debt with gross external debt. That's the amount owed to foreign investors by both the government and the private sector. Public debt impacts external debt, but they are not one and the same" https://www.thebalancemoney.com/what-is-the-public-debt-3306294