Public Debt Management and Debt Market Development in Cyprus: Evolution, Current Challenges and Policy Options
The main objectives of this paper are to describe the evolution and current challenges of public debt management and debt market development in Cyprus in order to identify relevant policy options for the authorities. Although significant progress has recently been made in terms of using market-based mechanisms and adopting a more sound public debt composition, there remain important weaknesses that need to be addressed in view of the forthcoming Eurozone entry. Three main (and mutually reinforcing) challenges are identified and analyzed: institutional arrangements for public debt management, modernization of the government debt market, and upgrading investment management skills of domestic institutional investors. The proposed reform agenda is fairly ambitious and calls for an integrated approach given the inter-linkages between reforms. What is important going forward is for the authorities to promptly resolve outstanding issues and prepare the groundwork for the introduction of these reforms via a carefully sequenced roadmap.
Volume (Year): 1 (2007)
Issue (Month): 1 (June)
|Contact details of provider:|| Postal: |
Phone: + 357 22892429
Fax: + 357 22892426
Web page: http://www.ucy.ac.cy/goto/ecorece/el-GR/HOME.aspx
More information through EDIRC
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:erc:cypepr:v:1:y:2007:i:1:p:49-80. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angela Shekersavva)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.