Meaning of “external liability” in the English Dictionary

"external liability" in Business English

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external liabilitynoun [ C, usually plural ]

uk us 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.

(Definition of “external liability” from the Cambridge Business English Dictionary © Cambridge University Press)