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Report of the Internal Working Group on Debt Management

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  • Ministry of Finance

Abstract

Establishing a debt management office would consolidate all debt management functions in a single agency, and be the catalyst for wider institutional reform and transparency about public debt. It is internationally accepted best practice that debt management should be disaggregated from monetary policy, and taken out of the realm of the central bank. Most advanced economies have dedicated debt management offices. Several emerging economies, including Brazil, Argentina, Colombia, and South Africa, have restructured debt management in recent years and created a DMO. The central Government’s proposal to create DMO is the crucial first step in reviewing and improving public debt management and building a government securities market. This report aims to lay out the rationale for restructuring debt management arrangements in India, the Working Group’s vision for these new arrangements and practical steps for transitioning to these new arrangements.

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  • Ministry of Finance, 2009. "Report of the Internal Working Group on Debt Management," Working Papers id:2111, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:2111
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    References listed on IDEAS

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    1. Togo, Eriko, 2007. "Coordinating public debt management with fiscal and monetary policies : an analytical framework," Policy Research Working Paper Series 4369, The World Bank.
    2. Charan Singh, 2006. "India Needs to Separate Debt from Monetary Management," Working Papers id:478, eSocialSciences.
    3. Taylor, Michael & Fleming, Alex, 1999. "Integrated financial supervision : lessons of Northern European experience," Policy Research Working Paper Series 2223, The World Bank.
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