By World Bank
Top of the range public debt administration performs a serious function in decreasing the vulnerability of constructing international locations to monetary crises. With sound chance and funds administration, powerful coordination with monetary and financial coverage, sturdy governance, and enough institutional and employees ability in position, governments can enhance and enforce potent medium-term debt administration concepts. handling Public Debt: From Diagnostics to Reform Implementation attracts insights from a joint pilot software manage via the realm financial institution and overseas financial Fund to layout correct reform and capacity-building courses in twelve international locations. The reports of those geographically and economically assorted international locations - Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia - illustrate the demanding situations and parts essential to make development within the zone of public debt administration. dealing with Public Debt will serve executive officers considering or within the strategy of reforming their practices, services of technical counsel, and practitioners engaged on construction means in public debt administration. simply because potent implementation of debt administration innovations additionally calls for a built household govt debt marketplace, readers can be attracted to the better half quantity, constructing the family executive Debt marketplace, released through the realm financial institution in February 2007, according to an analogous joint pilot software.
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Extra info for Managing Public Debt: From Diagnostics to Reform Implementation
In Nicaragua and Zambia, the analysis was limited to the domestic debt portfolio and to generating the maturity proﬁle for measuring and managing reﬁnancing risk, which was their primary concern. In Sri Lanka, the time horizon of the analysis of sensitivities to domestic interest rates extended only to one year. The latter three countries, however, were at the initial stages of their projects. In some pilot countries, ofﬁcials had conducted other research relevant to developing a debt management strategy.
It describes the debt management operations carried out during the year and discusses the council’s achievements. 3 Bulgaria’s Strategic Targets, 2003–06 Indicator Ratio of ﬁxed to ﬂoating debt Ratio of external to domestic debt Ratio of US dollar to euro debt Duration Source: Bulgaria Ministry of Finance 2003. Note: — ϭ Not available. 2 Indonesia’s General Strategy in State Debt Management for 2005–09 To achieve the goals of long-term state debt management to minimize debt costs at a controlled risk level, the government’s medium-term general strategy for the years 2005–9 is as follows: Reduction of state debts.
Bulgaria has transformed its World Bank loans from US dollars to euro and from ﬂoating-rate to ﬁxed-rate exposure; Colombia has carried out numerous swap transactions transforming its foreign-currency exposure as well into domesticcurrency exposure, and from ﬂoating to ﬁxed interest rates; and Tunisia has transformed its World Bank loans with ﬂoating-rate exposures into ﬁxed-rate. CONCLUSIONS AND INSIGHTS The experience of the 12 pilot countries shows a broadly based understanding of the risks in public debt portfolios, as well as some actions taken to mitigate these risks.