Formalizing a Debt Management Strategy
In short, central government debt management can be defined as the process of establishing and executing a strategy in order to meet the debt management objectives. Undoubtedly, the development of the strategy is the most important debt management...
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| Format: | Policy Note |
| Language: | English en_US |
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World Bank, Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2005/12/16403910/india-formalizing-debt-management-strategy http://hdl.handle.net/10986/12962 |
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okr-10986-129622021-04-23T14:03:03Z Formalizing a Debt Management Strategy Magnusson, Tomas I. AUCTIONS BILATERAL DONORS BORROWING PLAN BORROWING REQUIREMENT BORROWING REQUIREMENTS CAPITAL MARKETS CASH RESERVE CENTRAL BANK CENTRAL GOVERNMENT DEBT COUPON CURRENCY RISK DEBT DEBT DATA DEBT DATABASES DEBT ISSUES DEBT MANAGEMENT DEBT MANAGEMENT ACTIVITIES DEBT MANAGEMENT ACTIVITY DEBT MANAGEMENT FUNCTIONS DEBT MANAGEMENT OFFICE DEBT MANAGEMENT OPERATIONS DEBT MANAGEMENT POLICY DEBT MANAGEMENT STRATEGIES DEBT MANAGEMENT STRATEGY DEBT MANAGEMENT UNIT DEBT MANAGEMENT UNITS DEBT MANAGER DEBT MANAGERS DEBT PORTFOLIO DEBT PORTFOLIOS DEBT-SERVICING COSTS DEBTS DEVELOPING COUNTRIES DIRECT PUBLIC DEBT DOMESTIC BORROWING DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC FINANCIAL MARKETS DOMESTIC INTEREST RATES DOMESTIC MARKET EXPENDITURE FINANCIAL SKILL FINANCIAL SKILLS FISCAL POLICY FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN CURRENCY RISK GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT SECURITIES GOVERNMENT SPENDING INDEBTEDNESS INDIRECT COST INFLATION INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL INSTITUTIONS INVESTOR BASE LEGAL AUTHORITY LEVEL OF INTEREST RATE LEVEL OF RISK LIQUID BENCHMARK LIQUID MARKET LIQUIDITY LONG-TERM BORROWING LONG-TERM COST LONG-TERM DEBT MANDATE MARKET BENCHMARKS MARKET CONSTRAINTS MARKET PRACTICE MATURITIES MATURITY MATURITY STRUCTURE MONETARY POLICY NATIONAL DEBT NATIONAL DEBT OFFICE NUMBER OF DEBT PRICE STABILITY PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPAYMENTS RISK CONTROL RISK PREMIUMS STRUCTURE OF DEBT T-BILLS TAX TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS TREASURY BONDS YIELD CURVE In short, central government debt management can be defined as the process of establishing and executing a strategy in order to meet the debt management objectives. Undoubtedly, the development of the strategy is the most important debt management decision. Given the market constraints, it is the strategy document that decides on issues such as the level of exposure to foreign currency risk, desired maturity structure of the debt, level of interest rate sensitivity, whether and how much of the debt should be indexed to inflation, and the plan for development of the domestic debt markets. If the government has chosen a strategy that turns out to be too risky, or, at the other end of the spectrum, too costly in order to avoid any risk, it will affect the budget outcome much harder than any misprized and/or badly timed debt management transaction. This paper will discuss the appropriate organizational arrangement, internal procedures and regulatory framework for a successful and sustainable development of debt management strategies. 2013-03-26T20:23:20Z 2013-03-26T20:23:20Z 2005-12 http://documents.worldbank.org/curated/en/2005/12/16403910/india-formalizing-debt-management-strategy http://hdl.handle.net/10986/12962 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Policy Note Economic & Sector Work South Asia India |
| repository_type |
Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AUCTIONS BILATERAL DONORS BORROWING PLAN BORROWING REQUIREMENT BORROWING REQUIREMENTS CAPITAL MARKETS CASH RESERVE CENTRAL BANK CENTRAL GOVERNMENT DEBT COUPON CURRENCY RISK DEBT DEBT DATA DEBT DATABASES DEBT ISSUES DEBT MANAGEMENT DEBT MANAGEMENT ACTIVITIES DEBT MANAGEMENT ACTIVITY DEBT MANAGEMENT FUNCTIONS DEBT MANAGEMENT OFFICE DEBT MANAGEMENT OPERATIONS DEBT MANAGEMENT POLICY DEBT MANAGEMENT STRATEGIES DEBT MANAGEMENT STRATEGY DEBT MANAGEMENT UNIT DEBT MANAGEMENT UNITS DEBT MANAGER DEBT MANAGERS DEBT PORTFOLIO DEBT PORTFOLIOS DEBT-SERVICING COSTS DEBTS DEVELOPING COUNTRIES DIRECT PUBLIC DEBT DOMESTIC BORROWING DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC FINANCIAL MARKETS DOMESTIC INTEREST RATES DOMESTIC MARKET EXPENDITURE FINANCIAL SKILL FINANCIAL SKILLS FISCAL POLICY FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN CURRENCY RISK GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT SECURITIES GOVERNMENT SPENDING INDEBTEDNESS INDIRECT COST INFLATION INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL INSTITUTIONS INVESTOR BASE LEGAL AUTHORITY LEVEL OF INTEREST RATE LEVEL OF RISK LIQUID BENCHMARK LIQUID MARKET LIQUIDITY LONG-TERM BORROWING LONG-TERM COST LONG-TERM DEBT MANDATE MARKET BENCHMARKS MARKET CONSTRAINTS MARKET PRACTICE MATURITIES MATURITY MATURITY STRUCTURE MONETARY POLICY NATIONAL DEBT NATIONAL DEBT OFFICE NUMBER OF DEBT PRICE STABILITY PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPAYMENTS RISK CONTROL RISK PREMIUMS STRUCTURE OF DEBT T-BILLS TAX TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS TREASURY BONDS YIELD CURVE |
| spellingShingle |
AUCTIONS BILATERAL DONORS BORROWING PLAN BORROWING REQUIREMENT BORROWING REQUIREMENTS CAPITAL MARKETS CASH RESERVE CENTRAL BANK CENTRAL GOVERNMENT DEBT COUPON CURRENCY RISK DEBT DEBT DATA DEBT DATABASES DEBT ISSUES DEBT MANAGEMENT DEBT MANAGEMENT ACTIVITIES DEBT MANAGEMENT ACTIVITY DEBT MANAGEMENT FUNCTIONS DEBT MANAGEMENT OFFICE DEBT MANAGEMENT OPERATIONS DEBT MANAGEMENT POLICY DEBT MANAGEMENT STRATEGIES DEBT MANAGEMENT STRATEGY DEBT MANAGEMENT UNIT DEBT MANAGEMENT UNITS DEBT MANAGER DEBT MANAGERS DEBT PORTFOLIO DEBT PORTFOLIOS DEBT-SERVICING COSTS DEBTS DEVELOPING COUNTRIES DIRECT PUBLIC DEBT DOMESTIC BORROWING DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC FINANCIAL MARKETS DOMESTIC INTEREST RATES DOMESTIC MARKET EXPENDITURE FINANCIAL SKILL FINANCIAL SKILLS FISCAL POLICY FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN CURRENCY RISK GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT SECURITIES GOVERNMENT SPENDING INDEBTEDNESS INDIRECT COST INFLATION INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL INSTITUTIONS INVESTOR BASE LEGAL AUTHORITY LEVEL OF INTEREST RATE LEVEL OF RISK LIQUID BENCHMARK LIQUID MARKET LIQUIDITY LONG-TERM BORROWING LONG-TERM COST LONG-TERM DEBT MANDATE MARKET BENCHMARKS MARKET CONSTRAINTS MARKET PRACTICE MATURITIES MATURITY MATURITY STRUCTURE MONETARY POLICY NATIONAL DEBT NATIONAL DEBT OFFICE NUMBER OF DEBT PRICE STABILITY PUBLIC DEBT PUBLIC DEBT MANAGEMENT REGULATORY FRAMEWORK REPAYMENTS RISK CONTROL RISK PREMIUMS STRUCTURE OF DEBT T-BILLS TAX TRANSACTION TRANSPARENCY TREASURY TREASURY BILLS TREASURY BONDS YIELD CURVE Magnusson, Tomas I. Formalizing a Debt Management Strategy |
| geographic_facet |
South Asia India |
| description |
In short, central government debt
management can be defined as the process of establishing and
executing a strategy in order to meet the debt management
objectives. Undoubtedly, the development of the strategy is
the most important debt management decision. Given the
market constraints, it is the strategy document that decides
on issues such as the level of exposure to foreign currency
risk, desired maturity structure of the debt, level of
interest rate sensitivity, whether and how much of the debt
should be indexed to inflation, and the plan for development
of the domestic debt markets. If the government has chosen a
strategy that turns out to be too risky, or, at the other
end of the spectrum, too costly in order to avoid any risk,
it will affect the budget outcome much harder than any
misprized and/or badly timed debt management transaction.
This paper will discuss the appropriate organizational
arrangement, internal procedures and regulatory framework
for a successful and sustainable development of debt
management strategies. |
| format |
Economic & Sector Work :: Policy Note |
| author |
Magnusson, Tomas I. |
| author_facet |
Magnusson, Tomas I. |
| author_sort |
Magnusson, Tomas I. |
| title |
Formalizing a Debt Management Strategy |
| title_short |
Formalizing a Debt Management Strategy |
| title_full |
Formalizing a Debt Management Strategy |
| title_fullStr |
Formalizing a Debt Management Strategy |
| title_full_unstemmed |
Formalizing a Debt Management Strategy |
| title_sort |
formalizing a debt management strategy |
| publisher |
World Bank, Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2005/12/16403910/india-formalizing-debt-management-strategy http://hdl.handle.net/10986/12962 |
| _version_ |
1764420975850422272 |