International Best Practices

Debt managers in advanced and less advanced countries have greatly benefited from sharing their experience and information in various international fora. Debt managers have discussed how best to respond to the consequences of the increase in gross borrowing requirements. Sound leading practices related to primary and secondary market policies have emerged, including the management of auctions and syndications, the use of primary dealer systems, and communication strategies. Over the years, the OECD, the WB and other multilateral organizations have identified a set of best practices in all areas of public debt management. Such best practices may significantly contribute to reducing governments' vulnerability to domestic and international financial shocks.