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Author : Patrick de Fontenay,Huw Pill,Gian Maria Milesi-Ferretti
Publisher : Unknown
Page : 50 pages
File Size : 46,8 Mb
Release : 1995
Category : Debts, External
ISBN : UCSD:31822018906958
Author : International Monetary Fund
Publisher : INTERNATIONAL MONETARY FUND
Page : 38 pages
File Size : 53,5 Mb
Release : 1995-02-01
Category : Business & Economics
ISBN : 1451843887
This paper analyzes the choice between public debt denominated in domestic currency and foreign currency in the context of public debt management theories. It discusses the experience of Belgium, Denmark, Ireland, Italy, New Zealand and Sweden and relates it to the theoretical arguments in favor or against the Issuance of foreign currency debt.
Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 367 pages
File Size : 42,9 Mb
Release : 2002-11-21
Category : Business & Economics
ISBN : 9781498328142
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Author : Thomas Martin Klein
Publisher : World Bank Publications
Page : 330 pages
File Size : 48,9 Mb
Release : 1994-01-01
Category : Business & Economics
ISBN : 0821328085
World Bank Technical Paper 245. This document was designed primarily for staff of newly established debt management institutions within governments that are launching borrowing programs, and discusses the entire range of external debt management. Topics include the organizational procedures for negotiating foreign loans and credits, the control and coordination of borrowing decisions, risk management, the administration of new loans, and external debt accounting and statistics. Basic accounting principles are reviewed and the use of computers explored. The authors stress that the government unit with responsibility for meeting future debt service obligations should also play a major role in decisions regarding foreign borrowing. Reporting statistics on external debt is a crucial part of a country's relationship with the World Bank and other donors. The Bank has formal requirements for debt reporting by member nations and accurate accounting is a prerequisite to having loans considered by the Bank's Executive Board. This book is an essential reference for training and technical assistance programs in asset and liability mangement.
Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 39 pages
File Size : 50,7 Mb
Release : 2003-09-12
Category : Business & Economics
ISBN : 9781498328920
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Author : Rudiger Dornbusch,Mario Draghi
Publisher : Cambridge University Press
Page : 384 pages
File Size : 48,8 Mb
Release : 1990-11-30
Category : Business & Economics
ISBN : 0521392667
As Europe proceeds towards economic and monetary union, fiscal convergence and the prospect of a common money are at the centre of discussion. This volume from the Centre for Economic Policy Research brings together theoretical, applied and historical research on the management of public debt and its implications for financial stability.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 444 pages
File Size : 50,8 Mb
Release : 1997-04-15
Category : Business & Economics
ISBN : 1557755558
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 : Graeme Wheeler
Publisher : World Bank Publications
Page : 228 pages
File Size : 48,7 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 : International Monetary Fund,,World Bank
Publisher : International Monetary Fund
Page : 40 pages
File Size : 52,6 Mb
Release : 2015-03-11
Category : Business & Economics
ISBN : 9781498330664
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 : Mr.D. F. I. Folkerts-Landau,Marcel Cassard
Publisher : International Monetary Fund
Page : 292 pages
File Size : 42,6 Mb
Release : 2000-07-05
Category : Business & Economics
ISBN : 1557756945
This volume, edited by David Folkerts-Landau and Marcel Cassard, consists of papers presented at a conference held in Hong Kong SAR that was hosted by the IMF and the Hong Kong Monetary Authority. It focuses on a wide range of issues confronting policymakers in managing their sovereign assets and liabilities in a world of mobile capital and integrated capital markets. Topics include public debt management strategy, central bank reserves management, technical and quantitive aspects of risk management, and credit costs and borrowing capacity in optimizing debt management. The papers draw on experiences of policymakers and private sector participants actively involved in formulating and implementing debt and reserves policy.
Author : Mr.Udaibir S. Das,Jay Surti,Mr.Faisal Ahmed,Mr.Michael G Papaioannou,Mr.Guilherme Pedras
Publisher : International Monetary Fund
Page : 29 pages
File Size : 43,6 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 9781455210879
This paper explores the relationship between the level and management of public debt and financial stability, and explains the channels through which the two are interlinked. It suggests that the broader implications of a debt management strategy and its implementation should be carefully analyzed by debt managers and policy makers in terms of their impact on the government's balance sheet, macroeconomic developments, and the financial system.
Author : Mr.Hassanali Mehran
Publisher : International Monetary Fund
Page : 346 pages
File Size : 46,7 Mb
Release : 1985-09-15
Category : Business & Economics
ISBN : 0939934485
Edited by Hassanali Mehran, this volume is a compilation of 13 papers presented at a seminar organized by the IMF Institute and the Central Banking Department.
Author : Mr.D. F. I. Folkerts-Landau,Marcel Cassard
Publisher : International Monetary Fund
Page : 54 pages
File Size : 49,7 Mb
Release : 1997-12-01
Category : Business & Economics
ISBN : 9781451979619
In an environment of sizable and volatile capital flows and integrated international capital markets, large and unhedged net external sovereign liabilities expose countries to swings in international asset prices and to potential speculative currency attacks. The paper argues that an essential step in reducing emerging market vulnerability to such external shocks is to reform the institutional arrangements governing asset and liability management policies, so as to promote a transparent, publicly accountable, and professional incentive structure.
Author : James A. Hanson
Publisher : World Bank Publications
Page : 41 pages
File Size : 45,6 Mb
Release : 2007
Category : Bank debt
ISBN : 8210379456XXX
Abstract: This paper analyzes the recent growth of government domestic debt, including central bank debt, using a new data base on government domestic debt in developing countries with large, open financial systems. On average, government domestic debt grew much faster than GDP between 1994 and 2004 and became larger than foreign debt. The rapid growth of domestic debt reflects financial crises, the growth of central bank debt and the greater attractiveness to governments of issuing domestic debt as well as the recent increase in demands for it. Both its attractiveness and the increased demands for it reflect the current benign international environment to some degree. The main risk of government debt, domestic or foreign, remains its overall size relative to a country's fiscal, financial, and political institutions. While government domestic debt can help the domestic private capital market, large domestic debt, like large external debt, has risks. For example, there can be "sudden stops" in the demand for domestic debt as well as in foreign lending. Governments need to be aware of the risks and burdens in domestic debt issue-crowding out small borrowers, transferring risks to banks when issuing longer maturity, fixed-interest domestic debt and reducing returns, and imposing risks on holders of pensions, annuities, and life insurance policies. Growth of central bank debt can divert central banks from pursuit of the objective of price stability.
Author : Anonim
Publisher : World Bank Publications
Page : 140 pages
File Size : 47,9 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.
