Focus on the pronunciation of external liability
English definition of “external liability”
noun [C, usually plural] (plural external liabilities)
› ACCOUNTING an amount of money that a company owes to lenders or creditors (= people or organizations that have lent it money, or sold it goods), compared to money that is owed to shareholders: The company's restructuring has resulted in a reduction in its external liabilities.
› ECONOMICS an amount of money that a country owes to another country: A significant part of the country's external debt is short-term external liabilities which, at the end of March, stood at $11.1 billion.