English, , 538kb
OECD governments are facing ongoing, unprecedented challenges in raising large volumes of funds at lowest possible cost, while balancing refinancing, repricing and interest rate risks. Gross borrowing needs of OECD governments are expected to reach almost USD 16 trillion in 2009, up from an earlier estimate of around USD 12 trillion. The tentative outlook for 2010 shows a stabilising borrowing picture at around the level of USD 16
English, , 180kb
Tougher issuance conditions related to the surge in government borrowing needs are the reasons why issuance arrangements have not always been working as efficiently as before the crisis. This prompted debt management offices (DMOs) in the OECD area to review existing issuance policies and procedures. The crisis also had an impact on the use of indicators or guidelines relating to the key risks of the maturity structure of issuance or
Organised in Paris back-to-back with the 19th Annual OECD Global Forum on Public Debt Management, discussions focused on an exchange of information on ongoing activities regarding African Public Debt Management and Bond Markets.
Taking place in Paris, discussions at the Forum focused on the impact of the global financial crisis on funding needs and borrowing strategies in different regions, new policy challenges for Asian debt managers and urgent policy changes in the new borrowing landscape.
Organised in Cape Town, South Africa, on 24-26 June 2009, this workshop provided another opportunity for African countries to discuss and debate practical market-infrastructure issues which are of major concern for debt managers in the African debt markets.
English, , 664kb
Many OECD governments are facing unprecedented challenges in the markets for bonds and bills, as a result of the explosive growth in their borrowing needs. Amidst an unusually uncertain economic outlook, the gross borrowing needs of OECD governments are expected to reach almost USD 12 trillion in 2009. The key policy issue is how to raise smoothly new funds at low cost, while also managing a rapidly growing debt stock. For the time
Organised in Paris back-to-back with the 18th Annual OECD Global Forum on Public Debt Management, discussions focused on an exchange of information on ongoing activities regarding African Public Debt Management and Bond Markets.
The meeting took place in Paris back-to-back with the forum on African Public Debt Management, discussions focussed on sovereign asset liability management, the use of short-term government paper and regional roundtables on challenges and opportunities for issuers in view of the credit/liquidity crisis.
This publication reviews recent trends in the structure of OECD government securities markets and public debt management operations, and highlights the generic structural policy issues in emerging debt markets.