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Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 367 pages
File Size : 55,7 Mb
Release : 2002-11-21
Category : Business & Economics
ISBN : 9781498328142
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Author : International Monetary Fund
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 54,5 Mb
Release : 2003-08-04
Category : Business & Economics
ISBN : 1589061942
This accompanying document to the Guidelines for Public Debt Management, which the IMF and the World Bank co-published in 2001, contains sample case studies that illustrate how a range of countries from around the world and at different stages of economic and financial development are developing their debt management capacity in a manner consistent with the guidelines. The experience of these countries is discussed in this publication, and should offer some useful and practical suggestions to other countries, as they strive to build their own capacity in public debt management.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 52 pages
File Size : 48,7 Mb
Release : 2001-11-12
Category : Business & Economics
ISBN : UCSD:31822031235286
The IMF/World Bank publication 'Guidelines for public debt management: accompanying documents and selected case studies' (2003, ISBN 1589061942) is also available.
Author : Elizabeth Currie,Jean-Jacques Dethier,Eriko Togo
Publisher : World Bank Publications
Page : 59 pages
File Size : 46,7 Mb
Release : 2003
Category : Bank Policy
ISBN : 8210379456XXX
Abstract: This paper analyzes institutional arrangements for public debt management by reviewing the experience of OECD countries during the late 1980s and 1990s. It discusses principal-agent issues arising from the delegation of authority from the Minister of Finance to the debt management office and describes how countries have designed governance structures and control and monitoring mechanisms to deal with these issues. The paper also discusses what lessons emerging market countries and transition countries can draw from the experience of advanced OECD countries. The OECD experience clearly indicates that"regardless of whether the debt management office is located inside or outside the Ministry of Finance"four issues are of vital importance: Giving priority to strategic public policy objectives rather than tactical trading objectives; Strengthening the institutional capacity to deal with financial portfolio management and with the public policy aspects of debt management; Modernizing debt management; Creating mechanisms to ensure successful delegation and accountability to the Ministry of Finance and Parliament. This paper"a joint product of the Office of the Senior Vice President and Chief Economist, Development Economics, and Public Debt Management Group, Banking, Capital Markets, and Financial Engineering Department"is part of a larger effort in the Bank to analyze the institutional dimentions of effective government policy.
Author : Charan Singh
Publisher : Springer
Page : 211 pages
File Size : 40,7 Mb
Release : 2016-11-02
Category : Business & Economics
ISBN : 9788132236498
This book examines the objectives of public debt management and the re-emerging issue of separating monetary policy formulation from fiscal and debt management. The recent Great Recession has resulted in a rethink of the objectives and working of macroeconomics, and in many countries, including India, has led to the scope of fiscal operations being expanded and debt-to-GDP ratios increasing significantly. Consequently, debt management has encountered considerable difficulties, and the need for coordination between monetary and debt management has assumed greater significance. The book discusses the important issue of the independence of central banks and the need for coordination between debt managers, monetary authorities and finance ministries if debt operations are separated from monetary management.
Author : Anonim
Publisher : World Bank Publications
Page : 140 pages
File Size : 40,5 Mb
Release : 2007-01-01
Category : Business & Economics
ISBN : 9780821368732
High-quality public debt management plays a critical role in reducing the vulnerability of developing countries to financial crises. With sound risk and cash management, effective coordination with fiscal and monetary policy, good governance, and adequate institutional and staff capacity in place, governments can develop and implement effective medium-term debt management strategies. Managing Public Debt: From Diagnostics to Reform Implementation draws insights from a joint pilot program set up by the World Bank and International Monetary Fund to design relevant reform and capacity-building programs in twelve countries. The experiences of these geographically and economically diverse countries - Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia - illustrate the challenges and elements necessary to make progress in the area of public debt management. Managing Public Debt will serve government officials contemplating or in the process of reforming their practices, providers of technical assistance, and practitioners working on building capacity in public debt management. Because effective implementation of debt management strategies also requires a developed domestic government debt market, readers will also be interested in the companion volume, Developing the Domestic Government Debt Market, published by The World Bank in February 2007, based on the same joint pilot program.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 46 pages
File Size : 49,8 Mb
Release : 2007-03-27
Category : Business & Economics
ISBN : 9781498333672
This paper reviews Bank-Fund staff experience with strengthening public debt management (PDM) frameworks and capacity in developing countries. In 2001, the IMF and the World Bank developed sound practice guidelines in this area, followed by a pilot program to assist 12 countries develop and implement reforms. In addition, an assessment of PDM has been incorporated into surveillance work, where relevant, and included in other Bank and Fund advisory and technical assistance work. Based on these, the paper draws key lessons, identifies the continuing challenges facing debt managers, and proposes further capacity building and advisory work in PDM. The 12 countries in the pilot program were Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 65 pages
File Size : 51,6 Mb
Release : 2007-03-27
Category : Business & Economics
ISBN : 9781498333689
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Author : Supriyo De
Publisher : Cambridge University Press
Page : 250 pages
File Size : 52,5 Mb
Release : 2017-02-07
Category : Business & Economics
ISBN : 9781107152632
Cover -- India's Fiscal Policy -- Title -- Copyright -- Contents -- Foreword -- Acknowledgements -- Disclaimer -- Introduction: Contours of the Indian Fiscal Policy Debate -- Notes -- 1 Fiscal Policy in India Trends and Trajectory -- Introduction -- Basic concepts and analytical framework -- India's fiscal policy architecture -- Evolution of Indian fiscal policy till 1991 -- Liberalization, growth, inclusion and fiscal consolidation (1991-2008) -- Crisis and return to fiscal consolidation: The maturing of Indian fiscal policy -- Conclusion -- Notes -- References -- 2 Decentralization, Indirect Tax Reform and Fiscal Federalism in India -- Introduction -- Economic disparity across Indian states -- The GST and the role of the FC -- Some recent reforms in indirect taxation and their beneficial effects -- Some remaining issues with the indirect tax structure -- Agenda for indirect tax reform -- Structure of transfers from the central government to state governments -- FC transfers -- PC transfers -- Centrally sponsored schemes -- Transfers to PRIs and urban bodies -- Conclusions -- Notes -- References -- 3 Fiscal Implications of Energy Subsidies -- Introduction -- Petroleum subsidies -- Subsidies in the coal sector -- Subsidies in the power sector -- Renewable energy sector -- Conclusions -- Notes -- References -- 4 Fiscal Implications of Food Security in India: A Critical Review -- Introduction -- Concept of food security -- Fiscal policy and food security in India -- Food security policies in some countries -- Bangladesh -- Bhutan -- Maldives -- Nepal -- Pakistan -- Sri Lanka -- Review of food security policies in India -- On availability -- On access -- Antyodaya Anna Yojana -- On nutrition -- Integrated child development services -- Mid-day meal scheme -- Social security through MGNREGS -- NFSA, 2013: What are the macro-fiscal impacts?
Author : OECD
Publisher : OECD Publishing
Page : 276 pages
File Size : 40,7 Mb
Release : 2005-08-05
Category : Electronic
ISBN : 9789264104433
This study on government debt brings together a number of reports on best practices for managing market risk, credit risk, operational risk and contingent liability risk. It was prepared by the OECD Working Party on Public Debt Management.
Author : Graeme Wheeler
Publisher : World Bank Publications
Page : 228 pages
File Size : 43,7 Mb
Release : 2004
Category : Business & Economics
ISBN : 9780821350737
Since the late 1980's, many OECD governments have invested heavily in improving the quality of their debt management practices. In recent years, the topic has received additional attention for its potential role in reducing the vulnerability of emerging economies to financial and economic shocks. A government asset and liability management framework can offer valuable conceptual insights for managing the risks associated with government debt portfolios and their interface with a wide range of public policy issues. Prudent risk management requires clear objectives or debt managers, sound institutional and legal framework, appropriate quality assurance procedures and checks and balances, and efficient management information systems. This report draws from the experiences of leading countries in this field.
Author : Carlos A. Primo Braga,D rte D meland
Publisher : World Bank Publications
Page : 480 pages
File Size : 47,7 Mb
Release : 2009-10-02
Category : Business & Economics
ISBN : 0821378759
The history of debt relief goes back several decades. It reveals that a country s accumulation of unsustainable debt stems from such factors as deficiencies in macroeconomic management, adverse terms-of-trade shocks, and poor governance. Debt-relief initiatives have provided debt-burdened countries with the opportunity for a fresh start, but whether the benefits of debt relief can be preserved depends on transformations in a country s policies and institutions. In 1996, the Heavily Indebted Poor Countries (HIPC) Initiative was launched as the first comprehensive, multilateral, debt-relief framework for low-income countries. In 2005, the Multilateral Debt Relief Initiative was established, which increased the level of debt relief provided to HIPCs. As of early 2009, assistance through these two initiatives had been committed to 35 countries and amounted to US$117 billion in nominal terms, or half of the 2007 GDP of these countries. 'Debt Relief and Beyond' assesses the implications of debt relief for low-income countries and how its benefits can be preserved and used to fight poverty. The chapter authors bring unique operational experience to their examination of debt relief, debt sustainability, and debt management. Several key questions are addressed, including, what consequences does debt relief have for poverty-reducing expenditures, growth, and access to finance? Can debt relief guarantee debt sustainability? How can debt management at all levels of government be improved? What lessons can be learned from countries that have experienced debt restructuring? Finally, this book provides sound empirical evidence using current econometric techniques.
Author : Mr.Eduardo Borensztein,Mr.Olivier Jeanne,Mr.Paolo Mauro,Mr.Jeronimo Zettelmeyer,Mr.Marcos Chamon
Publisher : International Monetary Fund
Page : 72 pages
File Size : 55,9 Mb
Release : 2005-01-26
Category : Business & Economics
ISBN : 9781589063778
The debate on government debt in the context of possible reforms of the international financial architecture has thus far focused on crisis resolution. This paper seeks to broaden this debate. It asks how government debt could be structured to pursue other objectives, including crisis prevention, international risk-sharing, and facilitating the adjustment of fiscal variables to changes in domestic economic conditions. To that end, the paper considers recently developed analytical approaches to improving sovereign debt structure using existing instruments, and reviews a number of proposals--including the introduction of explicit seniority and GDP-linked instruments--in the sovereign context.
Author : Charan Singh
Publisher : Cambridge University Press
Page : 309 pages
File Size : 43,6 Mb
Release : 2018-04-19
Category : Business & Economics
ISBN : 9781107191273
Investigates implications of domestic debt on consumption and growth, and studies separation of debt and monetary management.
Author : Anonim
Publisher : World Bank Publications
Page : 120 pages
File Size : 42,6 Mb
Release : 2007-01-01
Category : Business & Economics
ISBN : 9780821368756
Domestic government debt markets play a critical role in managing public debt effectively and reducing the vulnerability of developing countries to financial crises. Many aspects of debt markets - money, primary, and secondary markets; a diversified investor base; and sound securities custody and settlement systems and regulation - interact in complex ways and are affected by previous policies and developments. Developing the Domestic Government Debt Market: From Diagnostics to Reform Implementation draws insights from a joint pilot program set up by the World Bank and International Monetary Fund to design relevant reform and capacity-building programs in twelve countries. The experiences of these geographically and economically diverse countries - Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia - illustrate the challenges, obstacles, and progress in applying principles of market development. Developing the Domestic Government Debt Market will serve government officials contemplating or in the process of reforming their practices, providers of technical assistance, and practitioners working on building capacity in debt market development. Because effective development of debt markets is one key piece in sound public debt management, readers will also be interested in the companion volume, Managing Public Debt, published by The World Bank in February 2007, based on the same joint pilot program.
