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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.

In fact, good, internationally-recognized practices are crucial for managing public debt, given the potential impact of huge borrowing flows and very high government debt to GDP ratios on a global scale and the recurring risk of debt crises.

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Richard Allen, Taz Chaponda, Lesley Fisher, Rohini Ray