IDEAS home Printed from https://ideas.repec.org/b/wbk/wbpubs/15017.html
   My bibliography  Save this book

Sound Practice in Government Debt Management

Author

Listed:
  • Graeme Wheeler

Abstract

Government debt management has a long tradition. More than three centuries ago, the Bank of England was managing government debt, and the origins of Sweden's National Debt Office go back to 1789.1 In recent years, there has been a move toward building the professionalism of government debt management, beginning with the establishment of the New Zealand Debt Management Office in 1988 and Ireland's National Treasury Management Agency in 1990. It is no accident that the countries that were the first to substantially upgrade their government debt management in the late 1980s and early 1990s were those with histories of fiscal problems, high ratios of public sector debt to gross domestic product (GDP), and a large proportion of foreign currency debt in their government debt portfolios.2 These same features are characteristic of many developing countries today. Concern over rising government indebtedness has been a factor behind debt management reforms in Brazil, China, Colombia, India, the Republic of Korea, Mexico, South Africa, and Thailand, and it helps explain why several other governments, including those of Jordan, Lebanon, and Peru, are considering extensive reforms in government debt management.

Suggested Citation

  • Graeme Wheeler, 2004. "Sound Practice in Government Debt Management," World Bank Publications - Books, The World Bank Group, number 15017, December.
    • Handle: RePEc:wbk:wbpubs:15017
    as

    Download full text from publisher

    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/15017/289880PAPER0So1government0debt0mgmt.pdf?sequence=1
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ms. Magdalena Polan & Parmeshwar Ramlogan & Mr. Carlos I. Medeiros, 2007. "A Primer on Sovereign Debt Buybacks and Swaps," IMF Working Papers 2007/058, International Monetary Fund.
    2. Melecky, Martin, 2012. "Formulation of public debt management strategies: An empirical study of possible drivers," Economic Systems, Elsevier, vol. 36(2), pages 218-234.
    3. Cangoz, Mehmet Coskun & Boitreaud, Sebastien & Dychala, Christopher Benjamin, 2018. "How Do Countries Use an Asset and Liability Management Approach? A Survey on Sovereign Balance Sheet Management," MPRA Paper 100309, University Library of Munich, Germany.
    4. Abdulkadir Abdulrashid Rafindadi & Abdulazeez Musa, 2019. "An Empirical Analysis of the Impact of Public Debt Management Strategies on Nigeria's Debt Profile," International Journal of Economics and Financial Issues, Econjournals, vol. 9(2), pages 125-137.
    5. Gooptu, Sudarshan & Braga, Carlos, 2010. "Debt Management: Now the Difficult Part," World Bank - Economic Premise, The World Bank, issue 23, pages 1-5, July.
    6. Cormier, Benjamin, 2021. "Interests over institutions: political-economic constraints on public debt management in developing countries," LSE Research Online Documents on Economics 112595, London School of Economics and Political Science, LSE Library.
    7. Abel Cadenillas & Ricardo Huamán-Aguilar, 2018. "On the Failure to Reach the Optimal Government Debt Ceiling," Risks, MDPI, vol. 6(4), pages 1-28, December.
    8. Maria Pascal (Andriescu), 2011. "Public Debt Management – Fundamental Component Of Public Policy," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 3(4), pages 571-578, December.
    9. Krzysztof JAROSINSKI, 2020. "Causes and Effects of Budget Imbalance in Poland and Selected Countries in the World," RAIS Journal for Social Sciences, Research Association for Interdisciplinary Studies, vol. 4(1), pages 99-109, May.
    10. Thordur Jonasson & Mr. Michael G. Papaioannou, 2018. "A Primer on Managing Sovereign Debt-Portfolio Risks," IMF Working Papers 2018/074, International Monetary Fund.
    11. Melecky, Ales & Melecky, Martin, 2014. "The Checks of Czechs: Optimizing the Debt Portfolio of the Czech Government," MPRA Paper 57604, University Library of Munich, Germany.
    12. Tal Sadeh & Yehuda Porath, 2020. "Autonomous agencies and relational contracts in government bond issues," Regulation & Governance, John Wiley & Sons, vol. 14(4), pages 741-763, October.
    13. World Bank Group, 2015. "Debt Management Performance Assessment Methodology," World Bank Publications - Reports 21962, The World Bank Group.
    14. Togo, Eriko, 2007. "Coordinating public debt management with fiscal and monetary policies : an analytical framework," Policy Research Working Paper Series 4369, The World Bank.
    15. repec:jes:wpaper:y:2011:v:3:p:571-578 is not listed on IDEAS
    16. Cormier, Ben, 2023. "Democracy, public debt transparency, and sovereign creditworthiness," LSE Research Online Documents on Economics 113927, London School of Economics and Political Science, LSE Library.
    17. Semih ŞEN & Mircan TOKATLIOĞLU, 2020. "Contingent Liabilities as a Risk Factor in Public Finance: The Case of Turkey," Sosyoekonomi Journal, Sosyoekonomi Society, issue 28(44).
    18. Petr Pavelek & Miroslav Titze, 2014. "Financial Derivatives Notation According to Maastricht Criteria after the ESA 2010 Implementation [Vykazování derivátů z hlediska plnění maastrichtských kritérií po přijetí ESA 2010]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(3), pages 75-90.
    19. Melecky, Martin, 2009. "The Effect of Institutions, Geography, Development Assistance and Debt Crises on Public-Debt Management," MPRA Paper 16332, University Library of Munich, Germany.
    20. Yehuda Porath & Tal Sadeh, 2022. "National Debt Management Autonomy and National Debt Maturity at Issue," Bank of Israel Working Papers 2022.14, Bank of Israel.
    21. Bank for International Settlements, 2007. "Financial stability and local currency bond markets," CGFS Papers, Bank for International Settlements, number 28, december.
    22. André Amante & Phillip Anderson & Thordur Jonasson & Herman Kamil & Mr. Michael G. Papaioannou, 2019. "Sovereign Asset and Liability Management in Emerging Market Countries: The Case of Uruguay," IMF Working Papers 2019/290, International Monetary Fund.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbpubs:15017. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tal Ayalon (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.