A central government guarantee is a commitment assumed, on account and on behalf of the government as guarantor to pay at maturity the outstanding obligations of the guaranteed debtor. Central government guarantees can be divided into:

• External –  guarantees issued in favour of a non-resident creditor;
• Domestic – guarantees issued in favour of a resident creditor;
• Administrative-territorial unit guarantees – commitments assumed, on account and on behalf of an administrative-territorial unit, an executive authority of an administrative-territorial unit, as guarantor, to pay at maturity the outstanding obligations of the guaranteed debtor.