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New restrictions on the short selling of sovereign debt have been proposed in response to major threats to financial market stability and market confidence. This article voices the concerns of debt managers that the proposed changes could push their borrowing costs up.
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Europe has been beset by an interrelated banking crisis and sovereign debt crisis. Bond spreads faced by Greece and Ireland, and to a lesser extent Portugal followed by Spain, have increased. This paper explores these issues from the perspective of financial markets, focusing mainly on the four countries in the frontline of these pressures: Greece and Portugal, on the one hand, where the problems are primarily fiscal in nature; and
Discussions at the Forum focussed on public debt objectives and the influence of macro-economic policies and financial stability; crisis experiences and lessons from the OECD area and emerging markets (including the measurement of sovereign risk); debt structure and risk metrics; as well as implications of new regulations for public debt management. . This annual forum is held under the aegis of the OECD Working Party on Debt
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Representatives of the financial services sector met in October 2010 to discuss sovereign debt challenges faced by banking systems and bond markets. This article summarises these discussions which covered the current outlook and risks - including capital flows and global rebalancing, sovereign risks and challenges for the banking sector.
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This report shows continued strong borrowing by OECD governments amid concerns about sovereign risk. It includes revised estimates for 2010 and the projected outlook in 2011.
The annual meetings of the OECD Working Party on Public Debt Management bring together debt managers from OECD countries to discuss topical issues relating to debt management operations and government bond markets
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This article summarises discussions held at the 11th OECD-WBG-IMF Global Bond Market Forum where withdrawal of policy stimulus and sovereign risk were singled out as the two biggest concerns for investors. It addresses the continuing challenge of measuring sovereign risk, the need for more reliable indicators of sovereign risk to help make appropriate investment decisions and how difficult circumstances have forced sovereign issuers
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The various existing methods for calculating short-term borrowing requirements can result in distorted estimates. This article proposes a new method that yields economically meaningful results that can also be used to make cross-country comparisons.
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The first issue of the Statistical Yearbook on African Central Government Debt was published earlier this year. This article provides an overview of the publication which contains comprehensive and consistent information on African central government debt instruments. It includes both individual country data and comparative statistics to facilitate cross-country analysis.
Read about OECD efforts to help governments improve the domestic and global policies that affect business and markets in the wake of the global economic crisis.