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Promoting Institutions

The Public Debt Management (PDM) Network is a joint initiative fostered by the Organisation for Economic Cooperation and Development (OECD), the Italian Treasury, and the World Bank.

The Italian Treasury

The Ministry of Economy and Finance of Italy carries out the tasks and responsibilities of the State in the fields of economic, financial, budget and tax policies. Additionally, it carries out all activities related to the coordination of public spending and its oversight, planning of public investments, monitoring and oversight of public financial management, public debt management, and of State stockholdings.

The Italian Treasury, headed by the Director General of the Treasury, is part of the Ministry of Economy and Finance of Italy. It provides technical support for the Government’s economic and financial policy choices, at both national and international level, and drafts key macroeconomic strategies and planning documents. It is responsible for analyzing national and international economic, monetary, and financial issues, and, through the Public Debt Directorate General, is in charge of issuing government securities and managing central government liabilities. Additionally, the Italian Treasury is responsible for the State’s shareholdings, financial interventions in the economy, the regulation and oversight of the credit and financial system, and the management of State property.


The Organisation for Economic Co-operation and Development (“OECD”) is a unique forum where the governments of 38 market democracies work together to address the economic, social, environmental, and governance challenges of the globalising world economy, as well as to exploit its opportunities. The OECD provides a setting where governments can compare policy experiences, seek answers to common problems, identify good practice and work to co-ordinate domestic and international policies.

In the highly specialised area of public debt management and bond market development, the OECD Working Party on Debt Management (WPDM) has functioned as a unique policy forum for the senior government debt managers from OECD Member countries. Over the years the WPDM has compiled a unique, authoritative and up-to-date pool of knowledge in this field, including issuance techniques, debt strategies, operations and statistics in this special field of government activity and policy, resulting in a set of leading practices in this specialised area of government policy. Information about sound practices for government debt management and primary and secondary market operations have also been shared with debt managers from emerging market economies. To that end, the WPDM initiated in the early 1990s a policy dialogue with transition countries and, later on, with emerging markets in several regional and global policy forums.

The World Bank

With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership. The Bank is an international development institution established by Articles of Agreement adopted by its member countries, and one of the world’s largest sources of funding and knowledge for developing countries. The Bank’s mission is to end extreme poverty by reducing the share of the global population that lives in extreme poverty to 3 percent and to promote shared prosperity by increasing the incomes of the poorest 40 percent of people in every country. It achieves these objectives by providing loans, concessional financing, technical assistance and knowledge-sharing services to its member countries and through partnerships with other organizations. Further to its mission, the Bank has an interest in collaborating with others to foster research and analysis, exchange knowledge and provide training related to public debt management and strengthening domestic government debt markets in both developed and developing countries. The Bank provides support to governments through customized advisory engagements, original research on sound practices and new developments in the field of public debt management, and a comprehensive conference and training program which brings together practitioners and topical experts for hands-on learning and networking. Bank units involved in this area are the Global Macro and Debt of the Macroeconomics, Trade & Investment Global Practice and the Long-Term Finance of the Finance, Competitiveness & Innovation Global Practice.