accumulation of arrears

Without experience of chancery business, Wright worked from a manual of practice compiled for his use; but his care entailed an accumulation of arrears.

"The forecast is for rapid accumulation of arrears in this account," said Steven A. Dimoff, editor of Washington Weekly Report, a newsletter following United Nations issues on Capitol Hill.

Sustainable debt is the level of debt which allows a debtor country to meet its current and future debt service obligations in full, without recourse to further debt relief or rescheduling, avoiding accumulation of arrears, while allowing an acceptable level of economic growth.

World Bank and IMF hold that "a country can be said to achieve external debt sustainability if it can meet its current and future external debt service obligations in full, without recourse to debt rescheduling or the accumulation of arrears and without compromising growth".