In December 2004 the Italian Treasury and the OECD have established the OECD – Italian Treasury Public Debt Management Network in Emerging Markets, aiming at promoting a permanent international dialogue in public debt management between developed and developing countries.

The idea of a Network among public debt managers and other organisations dedicated to emerging countries was launched in 2001 in informal meetings between the Italian Treasury and OECD, and afterwards by its inclusion in the agenda of 2002 and 2003 OECD Global Forum on Public Debt Management and Emerging Government Securities Markets. Session II of the 13th OECD Global Forum was dedicated to: “The launch of the OECD-Italian Treasury Multilateral Public Debt Management Network”. According to an extract from minutes of the 13th OECD Global Forum:

“One session of the Forum was the occasion to informally launch the new Multilateral Network on Public Debt Management, a new entity born from the initiative and the joint collaboration of the OECD and the Italian Treasury, intended to provide, especially to debt managers from emerging countries, with a permanent technical centre for the diffusion of debt management techniques, experiences and information, with the aim of further improving the quality and the effectiveness of debt management practices and strategies, while reducing the vulnerability of emerging countries to external financial shocks or debt crisis contagion. The Network, the main external evidence of which will be a Network dedicated Website released in 2004, has officially started its activity with the organization of this second session, addressing topics of interest for transition and emerging economies’ debt managers.”

In 2013, the World Bank joined the Network, and a new Memorandum of Understanding (“MoU”) was signed to this effect in August and September 2013 for a duration of two years.

In February 2017, the Parties signed the renewal of the MoU, with a duration of five years until 1 December 2022 (the “2017 MOU”). They also agreed to change the Network name in Public Debt Management Network (hence, the “PDM Network”).

In December 2022, the Promoting Institutions signed a new MoU, recognising the benefit of their collaboration and expressing their intention to continue their cooperation and adapt the PDM Network to the evolving environment of international public debt management. 

Main steps of the PDM Network initiative

2001/02 Discussion of the project between the OECD and the Italian Treasury, with the essential role played by Gianluca Colarusso, first responsible for the PDM Network. Gianluca Colarusso put a huge effort in liasing with representatives of the Italian Permanent Delegation at the OECD and with representatives of OECD – DAF (Department of Fiscal Affairs) and Working Party on Debt Management (WPDM), with the aim of clarifying the project’s mission and setting up resources, participants, and activities. He also put forward an exhaustive analysis of the future complex organisational structure, with an effective multilateral character. Unfortunately, he was not able to see the fruits of his work, but the PDM Network is indebted to him for his invaluable contribution.

2002/03 Presentation and discussion of the initiative at the 12th and 13th OECD Global Forums on “Government Securities Markets and Public Debt Management in Emerging Markets”.

2004 A Memorandum of Understanding between the OECD and the Italian Treasury is signed.

2005 The PDM Network website is set up by the Italian Treasury – Public Debt Directorate.

2008 Launch of the Monthly Newsletters, available to all internet users and emailed to Subscribers.

2009 Launch of the Weekly Newsletters, available in the reserved area of the website, are emailed to Subscribers.  

2011 Launch of the “Network News” section, daily updated in the public area of the Network’s website.  

2013 New Memorandum of Understanding signed by the Italian Treasury, the OECD and the World Bank. 

2017 New Memorandum of Understanding signed by the Italian Treasury, the OECD and the World Bank.

2019 1^st Public Debt Management Network Conference, held in Paris on September 4-5, 2019.

2022 2nd Public Debt Management Network Conference (hybrid), held in Rome on May 26-27, 2022.

2022 New Memorandum of Understanding signed by the Italian Treasury, the OECD, and the World Bank.

2023 Launch of the PDM Webinar Series initiative.

2024 Launch of a new website: restyling and improvement in term of performance and more user-friendly content.