Sovereign index-linked bond issuance has grown significantly since the early 1980s and index-linked bonds have become a widely accepted part of the set of instruments that sovereign debt managers use for funding purposes. This paper sets out a methodology for assessing their cost effectiveness relative to other financing options, using UK examples for illustration.
Taking place in South Africa, the 7th Annual Forum on African Public Debt Management focussed on current priorities relating to African public debt management and bond markets.
Governments are major issuers of debt instruments in the global financial market. This volume provides quantitative information on central government debt instruments for the 34 OECD countries.
The management of operational risk is at the heart of efficient government, but countries often fail to apply good or even routine operational risk management practices and have difficulty in understanding how to put the processes in place. This paper sets out a widely-applicable and relevant policy approach and management framework and illustrates its practical application in Turkey.
The gross borrowing needs of OECD governments are projected to increase slightly to around USD 10.9 trillion in 2013, up from the already high level of USD 10.8 trillion in 2012, according to a new OECD report.
Organised in Midrand, the 6th Annual Forum on African Public Debt Management focussed on current priorities relating to African public debt management and bond markets.
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This presentation by Adrian Blundell Wignall was made to the French Senate on 27 March 2012 in the context of their enquiry on credit rating agencies (CRAs).
Discussions at the forum will focus on latest developments in global bond markets, including the impact of the financial crisis on market functioning and debt levels and other emerging issues.
The study concludes that two technical key assumptions need to hold for the standard micro portfolio approach to yield optimal (i.e. cost-minimising) results.We argue that these assumptions do not hold in the current borrowing environment characterized by fiscal dominance with complex links between public debt management and monetary policy.
This paper argues that serious fiscal vulnerabilities arising from many years of high government debt will create new and complex interactions between public debt management and monetary policy.