![]() ![]() Stability Forum's Working Group on Capital Flows, "recent experience has highlighted the Government's balance sheet and to the country's financial stability. Often contains complex and risky financial structures, and can generate substantial risk to the A government's debt portfolio is usually the largest financial portfolio in the country. Managing contingent liabilities, can make countries less susceptible to contagion and financialĤ. The private sector, prudent government debt management, along with sound policies for The risk that the government's own portfolio management will become a source of instability for If investors become reluctant to refinance the government's foreign-currency debt. Foreign currency debt also poses particular risks, andĮxcessive reliance on foreign currency debt can lead to exchange rate and/or monetary pressures To changing financial market conditions, including changes in the country's creditworthiness, This has left government budgets seriously exposed Volumes of short-term or floating rate debt. Rate regime, or whether domestic or foreign currency debt is involved, crises have often arisenīecause of an excessive focus by governments on possible cost savings associated with large For example, irrespective of the exchange Large and unfunded contingent liabilities have been important factors in inducing or propagatingĮconomic crises in many countries throughout history. Poorly structured debt in terms of maturity, currency, or interest rate composition and ![]() The issue of debt sustainability include the public sector debt service ratio, and ratios of publicģ. Impact of government financing requirements and debt levels on borrowing costs. Debt managers should ensure that the fiscal authorities are aware of the Indebtedness remains on a sustainable path and that a credible strategy is in place to reduceĮxcessive levels of debt. Sovereignĭebt managers share fiscal and monetary policy advisors' concerns that public sector Serviced under a wide range of circumstances while meeting cost and risk objectives. That both the level and rate of growth in their public debt is fundamentally sustainable, and can be In a broader macroeconomic context for public policy, governments should seek to ensure Have set, such as developing and maintaining an efficient market for government securities.Ģ. ![]() Managing the government's debt in order to raise the required amount of funding, achieve its riskĪnd cost objectives, and to meet any other sovereign debt management goals the government may Sovereign debt management is the process of establishing and executing a strategy for What is Public Debt Management and Why is itġ. Relevant Conditions for Developing an Efficient Government Securities.Overview of Indicators of External Vulnerability.Risks Encountered in Sovereign Debt Management.Development and Maintenance of an Efficient Market for Government.Debt Management Objectives and Coordination.Summary of the Debt Management Guidelines.What is Public Debt Management and Why is it Important?.The full text is also available in PDF format (288k pdf) Prepared by the Staffs of the International Monetary Fund Guidelines for Public Debt Management: Accompanying DocumentĬode of Good Practices on Transparency in Guidelines for Public Debt Management- Summary Guidelines for Public Debt Management - Amended ![]()
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