Public governance

OECD Sovereign Borrowing Outlook 2017

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Published on May 26, 2017

book

The OECD Sovereign Borrowing Outlook provides regular updates on trends and developments associated with sovereign borrowing requirements, funding strategies, market infrastructure and debt levels from the perspective of public debt managers. The Outlook makes a policy distinction between funding strategy and borrowing requirements. The central government marketable gross borrowing needs, or requirements, are calculated on the basis of budget deficits and redemptions. The funding strategy entails decisions on how borrowing needs are going to be financed using different instruments and which distribution channels are being used. This edition provides data, information and background on sovereign borrowing needs and discusses funding strategies and debt management policies for the OECD area and country groupings. In particular, it examines: gross borrowing requirements; net borrowing requirements; central government marketable debt; interactions between fiscal policy, public debt management and monetary policy; funding strategies, procedures and instruments; liquidity in secondary markets; implications of a low interest environment for government debt; and the outlook of inflation linked bonds.

TABLE OF CONTENTS

Foreword
Acronyms and abbreviations
Editorial
Executive summary
Sovereign borrowing outlook for OECD countries
Implications of a low interest rate environment for government debt markets
The outlook for inflation-linked bonds
Annexes3 chapters available
OECD 2016 Survey on Primary Markets Developments
2016 Survey on Liquidity in Government Bond Secondary Markets
2016 Survey on Auction Mechanisms
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