I am trying to get a deeper understanding of net borrowing. Since net borrowing = debt issued - debt paid. Would net borrowing for 2021 be the same as the difference between debt for 2021 and 2020? And does net borrowing include all kind of debts or only interest bearing debt? If that is the case, would it be the same as the change in net interest bearing debt?
You appear to think that there is debt that doesn’t bear interest.
I was confused because I see that total debt and total interest bearing debt is not always the same. I might confuse debt and liabilities due to language barrier. English is not my native language.
The problem isn’t your grasp of English.
The problem is that the “total debt ratio” includes all liabilities, not just debt. It’s a stupid name, but we’re stuck with it.
All debt bears interest.