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Debt Management: Some Reflections Based on Argentina

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  • Kiguel, Miguel A.

Abstract

A good liability management strategy is one that helps minimize the cost of borrowing over the medium and long term. The objective is not to save the last basis point in each transaction, but rather to bring down the overall borrowing cost. This paper uses Argentina's experience to illustrate some important elements in the design of a liability management strategy. It takes into account the specific characteristics of the Argentine capital market and of the debt instruments that are available.

Suggested Citation

  • Kiguel, Miguel A., 1998. "Debt Management: Some Reflections Based on Argentina," IDB Publications (Working Papers) 6184, Inter-American Development Bank.
    • Handle: RePEc:idb:brikps:6184
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    References listed on IDEAS

    as
    1. Miguel Kiguel & Gabriel A. Lopetegui, 1997. "Entendiendo el Riesgo País," CEMA Working Papers: Serie Documentos de Trabajo. 125, Universidad del CEMA.
    2. Robert Barro, 2003. "Optimal Management of Indexed and Nominal Debt," Annals of Economics and Finance, Society for AEF, vol. 4(1), pages 1-15, May.
    3. Richard Cantor & Frank Packer, 1996. "Determinants and impact of sovereign credit ratings," Economic Policy Review, Federal Reserve Bank of New York, vol. 2(Oct), pages 37-53.
    4. Richard Cantor & Frank Packer, 1995. "Sovereign credit ratings," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 1(Jun).
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