Guidelines for Public Debt Management -- Amended
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2003-09-12
Total Pages: 39
ISBN-13: 149832892X
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A Cross-country Analysis of Public Debt Management Strategies
Author: Martin Melecky
Publisher: World Bank Publications
Published:
Total Pages: 42
ISBN-13:
DOWNLOAD EBOOKThis paper analyzes results of a survey on debt management strategies conducted by the Banking and Debt Management Department of the World Bank. The analysis focuses on (1) whether a public debt management strategy exists in a given country, (2) whether it is made public, and (3) in which form it is imparted. The paper analyzes the distribution of the latter characteristics over different regions, income groups, and levels of indebtedness using graphical analysis. Using regression analysis, it investigates the extent to which basic economic factors can explain the characteristics of public debt management strategies across countries.
Revised Guidelines for Public Debt Management
Author: International Monetary Fund,
Publisher: International Monetary Fund
Published: 2015-03-11
Total Pages: 40
ISBN-13: 1498330665
DOWNLOAD EBOOKThe 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.
Public Debt and Growth
Author: Jaejoon Woo
Publisher: International Monetary Fund
Published: 2010-07-01
Total Pages: 49
ISBN-13: 145520157X
DOWNLOAD EBOOKThis paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Public Debt Through the Ages
Author: Mr.Barry J. Eichengreen
Publisher: International Monetary Fund
Published: 2019-01-15
Total Pages: 60
ISBN-13: 1484392892
DOWNLOAD EBOOKWe consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible.
Medium-Term Debt Management Strategy
Author: Mr.Emre Balibek
Publisher: International Monetary Fund
Published: 2019-05-15
Total Pages: 68
ISBN-13: 1498314996
DOWNLOAD EBOOKThis report provides guidance on using the Analytical Tool of the Medium-Term Debt Management Strategy (MTDS). The MTDS framework consists of a methodology, published as the ‘Guidance Note for Developing a Medium-Term Debt Management Strategy’, and an associated analytical tool (AT) that can be used to assess the cost-risk trade-offs of alternative strategies to help identify the preferred strategy. The MTDS framework supported by the AT quantitative analysis helps to determine the financing strategy. The chosen debt management strategy sets out the financing composition path to meet the debt management objective(s). The profile of future interest payments and the amortizations of new debt are driven by the debt management strategy. The MTDS AT is based on annual cash flow. Although this assumption is enough for analyzing alternative debt management strategies, in some cases, particularly for countries that are heavily dependent on short-term securities with maturities of less than a year, it would be helpful to work with cash flows with higher frequency.
Global Waves of Debt
Author: M. Ayhan Kose
Publisher: World Bank Publications
Published: 2021-03-03
Total Pages: 403
ISBN-13: 1464815453
DOWNLOAD EBOOKThe 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.
A Primer on Managing Sovereign Debt-Portfolio Risks
Author: Thordur Jonasson
Publisher: International Monetary Fund
Published: 2018-04-06
Total Pages: 133
ISBN-13: 1484350545
DOWNLOAD EBOOKThis paper provides an overview of sovereign debt portfolio risks and discusses various liability management operations (LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the context of helping reach debt portfolio targets and attain desired portfolio structures. Also, the paper outlines how LMOs could be integrated into a debt management strategy and serve as policy tools to reduce potential debt portfolio vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk management framework, interactions of debt management with fiscal policy, monetary policy, and financial stability, as well as efficient government bond markets.
A Cross-country Analysis of Public Debt Management Strategies
Author: Martin Melecky
Publisher:
Published: 2007
Total Pages: 44
ISBN-13:
DOWNLOAD EBOOKThis paper analyzes results of a survey on debt management strategies conducted by the Banking and Debt Management Department of the World Bank. The analysis focuses on (1) whether a public debt management strategy exists in a given country, (2) whether it is made public, and (3) in which form it is imparted. The paper analyzes the distribution of the latter characteristics over different regions, income groups, and levels of indebtedness using graphical analysis. Using regression analysis, it investigates the extent to which basic economic factors can explain the characteristics of public debt management strategies across countries.
Public Debt
Author: Otavio Ladeira de Medeiros
Publisher:
Published: 2010
Total Pages: 456
ISBN-13:
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