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Identifiers

doi
10.1596/1813-9450-3021
handle
10986/18226

Institutional Arrangements for Public Debt Management

Flag for IGO World Bank on May 9th 2014
Currie, Elizabeth, Togo, Eriko and Dethier, Jean-Jacques
This paper analyzes institutional arrangements for public debt management by reviewing the experience of OECD countries during the late 1980s and 1990s. It discusses principal-agent issues arising from the delegation of authority from the Minister of Finance to the debt management office and describes how countries have designed governance structures and control and monitoring mechanisms to deal with these issues. The paper also discusses what lessons emerging market countries and transition countries can draw from the experience of advanced OECD countries. The OECD experience clearly indicates that-regardless of whether the debt management office is located inside or outside the Ministry of Finance-four issues are of vital importance: 1) Giving priority to strategic public policy objectives rather than tactical trading objectives. 2) Strengthening the institutional capacity to deal with financial portfolio management and with the public policy aspects of debt management. 3) Modernizing debt management. 4)...

Topics in this document

Related SDGs

SDG 17: Partnerships for the Goals ...
SDG 17: Partnerships for the Goals

Target 17.4

Assist developing countries in attaining long-term debt sustainability through coordinated policies aimed at fostering debt financing, debt relief and debt restructuring, as appropriate, and address the external debt of highly indebted poor countries to reduce debt distress

Citations

Cited by 11 other policy documents (5 of them are from other policy sources)
 

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Peter Dattels at International Monetary Fund
On page 54 (or quick view this section)
David Folkerts-Landau at International Monetary Fund
On page 52
Peter Dattels at International Monetary Fund
On page 52