This title offers practical guidance and advice for public debt managers, written by practitioners and experts from around the world. It addresses the key strategies and organisational challenges in the field, providing insight into how the debt management function can be performed more effectively. Governments are che world’s biggest borrowers. Issues of public debt are growing rapidly as budget deficits rise in many countries. At the same time, new techniques and instruments are being more widely used to supplement traditional methods of selling public debt, as debt managers seek to widen their investor base, diversify their portfolios, and reduce their exposure to risk. To do this, many countries have recently reorganised the debt function, recognising the need for a professional team with operational autonomy and the ability to respond rapidly to market developments. The activities of debt managment offices have far-reaching repercussions for money and capital markets everywhere.