The Public Debt Management Newtwork

The risk management policy framework constitutes the critical connection between the formulation and implementation of debt management decisions.

Debt managers need to have a view on the optimal structure of the public debt portfolio. Ideally, they should be able to assess how a portfolio should be structured on the basis of cost-risk criteria so as to hedge the government's fiscal position from various shocks. The optimal debt composition is derived by looking at the relative impact of the risk and costs of the various debt instruments on the probability of missing a well-defined stabilisation target.

Emerging market debt managers are generally facing greater and more complex risks in managing their sovereign debt portfolio and executing their funding strategies, than their colleagues in the more advanced markets. At the same time, many emerging market are now in the position to benefit from efficient international or domestic risk sharing. In view of these structural obstacles, debt and risk management (including the specification of a strategic benchmark) need to be integrated into a broader policy reform framework.

This macro area is broken down in the following sub-categories:

• Asset & Liability Management (ALM)
• Risk Management Models
• Derivatives

Sample Documents

The following are sample documents published up to and including the year 2003, and extracted from a wider group available on the reserved area of this website. Access to the reserved area is free, but reserved for partners only. Please find more information at the Join us section.

Documents

• Velandia-Rubiano Antonio

  A Risk Quantification Model for Public Debt Management (2002)

  More Info on A Risk Quantification Model fo[..] - A Risk Quantification Model for Public Debt ManagementDownload PDF 281.35 KB
• Bevilaqua Afonso S, Garcia Márcio

  Debt Management in Brazil: Evaluation of the Real Plan and Challenges Ahead (2002)

  More Info on Debt Management in Brazil: Eva[..]
• Missale Alessandro, Giavazzi Francesco, Benigno Pierpaolo

  How is the Debt Managed? Learning from Fiscal Stabilizations (2002)

  More Info on How is the Debt Managed? Learn[..]
• Di Gioacchino Debora, Ginebri Sergio, Sabani Laura

  Public Debt Repudiation: Is It Really Possible in The EMU? A Political Economy Approach (1999)

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• Magnusson Tomas

  Sovereign Financial Guarantees (1999)

  More Info on Sovereign Financial Guarantees - Sovereign Financial GuaranteesDownload PDF 33.55 KB