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Accounting, Statistics, Reporting and Auditing

Governments regularly publish information on the stock and composition of debt and financial assets, including currency, maturity, and interest rate structure. Also the financial position of the public sector should be regularly disclosed. This policy area covers all issues related to the rules and accounting standards, set both at national and international levels. Indeed, transparency is related to accountability and the quality and scope of information. Debt managers must decide how much information regarding their objectives they would like to disclose. Governments make use of a variety of communication vehicles, such as public debt guidelines, regular reports on performance and media announcements on issuance plans and design. In some countries, public debt management performance is subject to regular external review.

All of this reflects a general consensus among countries that markets work best, and debt service costs are minimized, when uncertainty regarding the objectives and execution of debt management policy as well as the related state of government finances is kept to minimum.