Institutional Arrangements For Public Debt Management

Author : Elizabeth Currie,Jean-Jacques Dethier,Eriko Togo
Publisher : World Bank Publications
Page : 59 pages
File Size : 54,7 Mb
Release : 2003
Category : Bank Policy
ISBN : 8210379456XXX

Get Book

Institutional Arrangements for Public Debt Management by Elizabeth Currie,Jean-Jacques Dethier,Eriko Togo Pdf

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 : World Bank,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund
Publisher : International Monetary Fund
Page : 29 pages
File Size : 47,9 Mb
Release : 2013-05-03
Category : Business & Economics
ISBN : 9781498342155

Get Book

Helping Developing Countries Address Public Debt Management Challenges - An IMF-World Bank Capacity Building Partnership by World Bank,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund Pdf

In 2009, the Boards of the IMF and World Bank jointly endorsed a capacity building program to help developing countries strengthen their public debt management frameworks. A key aspect of the program was to help developing countries implement the framework developed by staffs to formulate an effective medium-term debt management strategy (MTDS). The Boards also supported the continued use of the complementary framework—the Debt Management Performance Assessment (DeMPA)—developed in 2007, to assess the effectiveness of the broader institutional arrangements for public debt management. This paper provides an update on the implementation of the program since its endorsement in 2009.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 441 pages
File Size : 40,7 Mb
Release : 1997-04-15
Category : Business & Economics
ISBN : 9781455273911

Get Book

Coordinating Public Debt and Monetary Management by International Monetary Fund Pdf

Edited by V. Sundararajan, Peter Dattels, and Hans Blommestein, this volume outlines strategies for managing public debt, developing government securities markets, and coordinating those activities with monetary management through legal, administrative, and operational arrangements. Both transition and market economies are surveyed. The analysis draws partly on the literature on the microstructure of markets and auction systems and on selected country experiences.

Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 39 pages
File Size : 54,5 Mb
Release : 2003-09-12
Category : Business & Economics
ISBN : 9781498328920

Get Book

Guidelines for Public Debt Management -- Amended by International Monetary Fund,World Bank Pdf

NULL

Author : Elsie Addo Awadzi
Publisher : International Monetary Fund
Page : 57 pages
File Size : 47,8 Mb
Release : 2015-07-02
Category : Business & Economics
ISBN : 9781513514383

Get Book

Designing Legal Frameworks for Public Debt Management by Elsie Addo Awadzi Pdf

Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices require robust legal underpinnings. Complex legal issues however arise in the design of the legal framework, and tradeoffs are required in many instances. This paper analyzes key features of modern public debt management legal frameworks, drawing from examples in advanced, emerging, and frontier markets. It aims to provide guidance for countries that seek to review and strengthen their public debt management legal frameworks.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 60 pages
File Size : 45,9 Mb
Release : 1994-12-01
Category : Business & Economics
ISBN : 9781451856774

Get Book

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition by International Monetary Fund Pdf

In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of objectives and instruments of monetary and debt management, and the development of supporting institutional and operational arrangements. Key aspects of these arrangements are surveyed.

Author : Vasudevan Sundararajan
Publisher : Unknown
Page : 66 pages
File Size : 48,5 Mb
Release : 1994
Category : Central planning
ISBN : UCSD:31822018987248

Get Book

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition by Vasudevan Sundararajan Pdf

Author : Great Britain. Parliament. House of Commons. Treasury Committee,Treasury Committee
Publisher : Unknown
Page : 308 pages
File Size : 48,7 Mb
Release : 2000
Category : Debts, Public
ISBN : 0102381003

Get Book

Government's Cash and Debt Management by Great Britain. Parliament. House of Commons. Treasury Committee,Treasury Committee Pdf

Author : James M. Poterba,Jurgen von Hagen
Publisher : University of Chicago Press
Page : 402 pages
File Size : 49,6 Mb
Release : 2008-04-15
Category : Political Science
ISBN : 9780226676302

Get Book

Fiscal Institutions and Fiscal Performance by James M. Poterba,Jurgen von Hagen Pdf

The unprecedented rise and persistence of large-scale budget deficits in many developed and developing nations during the past three decades has caused great concern. The widespread presence of such deficits has proved difficult to explain. Their emergence in otherwise diverse nations defies particularistic explanations aimed at internal economic developments within a specific country. Fiscal Institutions and Fiscal Performance shifts emphasis away from narrow economic factors to more broadly defined political and institutional factors that affect government policy and national debt. This collection brings together new theoretical models, empirical evidence, and a series of in-depth case studies to analyze the effect of political institutions, fiscal regulations, and policy decisions on accumulating deficits. It provides a fascinating overview of the political and economic issues involved and highlights the role of budgetary institutions in the formation of budget deficits.

Author : International Monetary Fund,,World Bank
Publisher : International Monetary Fund
Page : 40 pages
File Size : 50,5 Mb
Release : 2015-03-11
Category : Business & Economics
ISBN : 9781498330664

Get Book

Revised Guidelines for Public Debt Management by International Monetary Fund,,World Bank Pdf

The Revised Guidelines for Public Debt Management have been developed as part of a broader work program undertaken by the IMF and the World Bank to strengthen the international financial architecture, promote policies and practices that contribute to financial stability and transparency, and reduce countries external vulnerabilities.

Author : Anonim
Publisher : World Bank Publications
Page : 140 pages
File Size : 54,6 Mb
Release : 2007-01-01
Category : Business & Economics
ISBN : 9780821368732

Get Book

Managing Public Debt by Anonim Pdf

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 : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 41,9 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781464815454

Get Book

Global Waves of Debt by M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara Pdf

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Author : V. Sundararajan
Publisher : Unknown
Page : 30 pages
File Size : 46,5 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1291214594

Get Book

Monetary Operations and Government Debt Management Under Islamic Banking by V. Sundararajan Pdf

This paper outlines the recent progress in developing Islamic financial instruments for the management of monetary policy and public borrowing requirements and provides details on new instruments currently being developed in the Islamic Republic of Iran and Sudan. The paper also touches on the institutional arrangements for interbank market operations and the design of effective central bank credit facilities that are needed under Islamic banking to support the development and operation of these new instruments.

Author : Benno Ferrarini,Raghbendra Jha,Arief Ramayandi
Publisher : Routledge
Page : 227 pages
File Size : 44,8 Mb
Release : 2012
Category : Business & Economics
ISBN : 9780415522212

Get Book

Public Debt Sustainability in Developing Asia by Benno Ferrarini,Raghbendra Jha,Arief Ramayandi Pdf

Addressing the global financial crisis has required fiscal intervention on a substantial scale by governments around the world. The consequent buildup of public debt, in particular its sustainability, has moved to center stage in the policy debate. If the Asia and Pacific region is to continue to serve as an engine for global growth, its public debt must be sustainable. Public Debt Sustainability in Developing Asia addresses this issue for Asia and the Pacific as a whole as well as for three of the most dynamic economies in the region: the People’s Republic of China, India, and Viet Nam. The book begins with a discussion of the reasons for increased attention to debt-related issues. It also introduces fiscal indicators for the Asian Development. Bank’s developing member countries and economies. The sustainability of their debt is assessed through extant approaches and with the most up-to-date data sources. The book also surveys the existing literature on debt sustainability, outlining the main issues related to it, and discusses the key implications for the application of debt sustainability analysis in developing Asia. Also highlighted is the importance of conducting individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g., federal), and the like, as well as the impact of debt on interest rates. The book further provides in-depth debt sustainability analyses for the People’s Republic of China, India, and Viet Nam. Public Debt Sustainability in Developing Asia offers a comprehensive analytical and empirical update on the sustainability of public debt in the region. It breaks new ground in examining characteristics that are crucial to understanding sustainability and offers richer policy analysis that should prove useful for policymakers, researchers, and graduate students.

Author : Alessandro Missale,Associate Professor of Economics Faculty of Political Science Alessandro Missale
Publisher : Oxford University Press on Demand
Page : 309 pages
File Size : 43,6 Mb
Release : 1999
Category : Business & Economics
ISBN : 0198290853

Get Book

Public Debt Management by Alessandro Missale,Associate Professor of Economics Faculty of Political Science Alessandro Missale Pdf

The choice of currency denomination, indexation, and maturity structure of public debt is an increasingly important aspect of policy in a world of high debts and and financially integrated markets. This book surveys theories and evidence on public debt composition and debt returns with thegoal of emphasizing the main policy issues. The effects of debt management on financial markets, risk-sharing, policy credibility, interest costs, and taxation are evaluated within a unified theoretical framework. The analysis clarifies the trade-off involved in policy decisions and shows how to usetheory and evidence to answer practical policy problems. This book is a valuable reference to researchers and satisfies the increasing demand by policymakers for sound economic principles to guide the choice of debt instruments.