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Public Debt Management Publications and References

Treasury is constantly keeping abreast of new developments in debt management practices and is also a leader in new thinking on debt management issues. The findings are published as research reports and books to stimulate discussions by debt managers and further research by academics and other research institutions.

Overview of Public Debt Management

Title: Guidelines for Public Debt Management
Published: 2001, World Bank and International Monetary Fund

Title: Guidelines for Public Debt Management: Accompanying Document
Published: 2003, World Bank and International Monetary Fund

Title: Public Debt Management in Emerging Market Economies: Has This Time Been Different?
Author/Editor: Anderson Phillip, Anderson Caputo Silva, and Antonio Velandia-Rubiano
Series: World Bank Policy Research Working Paper, No. WPS5399
Published: 2010

Title: Managing Public Debt: From Diagnostics to Reform Implementation
Published: 2007, World Bank

Title: Sound Practice in Government Debt Management
Author/Editor: Wheeler, Graeme
Published: 2004, World Bank

Title: Strengthening Debt Management Practices: Lessons from Country Experiences and Issues Going Forward
Series: Board Report, No. 39314
Published: March 2007, World Bank and International Monetary Fund

 

Additional References

Governance

Title: Government Debt Management: New Trends and Challenges, “Should Public Debt be Managed by a Separate Agency?”
Author/Editor: Anderson, Phillip; Mike Williams (ed.)
Published: 2006, Central Banking Publications

Title: Institutional Arrangements for Public Debt Management
Author/Editor: Currie, Elizabeth, Jean Jaques Dethier and Eriko Togo
Series: World Bank Policy Research Working Paper, No. WPS3021
Published: 2003, World Bank

Title: Managing Public Debt: Formulating Strategies and Strengthening Institutional Capacity
Published: March 2009, World Bank and International Monetary Fund

 

 

Additional References

Cost-Risk Modeling

Title: A Risk Quantification Model for Public Debt Management
Author/Editor: Velandia-Rubiano, Antonio
Published: January, 2002

Medium-Term Debt Management Strategy (MTDS) Analytical Tool

 

Additional References

Debt Management Strategy

Title: A cross-country analysis of public debt management strategies
Author/Editor: Melecky, Martin
Series: World Bank Policy Research Working Paper, No. WPS4287
Published: 2007

Title: Choosing the Currency Structure for Sovereign Debt: A Review of Current Approaches
Author/Editor: Melecky, Martin
Series: World Bank Policy Research Working Paper, No. WPS4246
Published: 2007

Title: Currency Allocation of Public External Debt and Synchronization Indicators of Exchange Rate Volatility
Author/Editor: Melecky, Martin
Series: Comparative Economic Studies, 2010, 52, (104–129).
Published: 2010, ACES

Title: Turkish Treasury Simulation Model for Debt Strategy Analysis
Author: Balibek, Emre and Hamdi Alper Memis
Series: World Bank Policy Research Working Paper, No. WPS6091
Published: June 2012

Additional References

  • Nars, Kari (ed.) (1997) Excellence in Debt Management: The Strategies of Leading International Borrowers, Euromoney Publications.
  • Sullivan, Paul (1999) “The Design and Use of Strategic Benchmarks in Managing Risk” presentation made in the Second Sovereign Debt Management Forum, organized by the World Bank November 1-3.
  • Wheeler, Graeme (2004) ‘The Use of Strategic Benchmarks in Government asset and Liability Management’ Chapter 7 in Sound Practice in Government Debt Management, World Bank.

Links with Macroeconomic Policies

Title: Coordinating Public Debt Management with Fiscal and Monetary Policies: An Analytical Framework
Author/Editor: Togo, Eriko
Series: World Bank Policy Research Working Paper, No. WPS4369
Published: 2007

 

Additional References

  • Blejer, Mario I. (1997) 'Public Debt Management and Monetary Policy: Macroeconomic and Institutional Interactions' in: "EU Accession and Sovereign Debt Management: A Central European Workshop", Brussels, Belgium, Dec.15-16, sponsored by European Commission and World Bank Europe and Central Asia Department.
  • Calvo, Guillermo and Mervyn King (Eds.) (1998) "The Debt Burden and its Consequences for Monetary Policy", IEA Conference Proceedings, St Martins Press.
  • Chrystal, K. Alec (Ed.) (1999) Government Debt Structure and Monetary Conditions, A Conference Organized by the Bank of England, June 18-19, 1998.
  • Sundararajan, V., Peter Dattels and Hans J. Blommestein eds (1997) "Coordinating Public Debt and Monetary Management: Institutional and Operational Arrangements", International Monetary Fund.

Cash Management

Title: Case Study: Sovereign Debt Management Cash Management, & Domestic Market Development in Malawi
Published: 2000, World Bank, Macroeconomic and Financial Management Institute of Eastern and Southern Africa, and the South African Debt Office

 

Additional References

Contingent Liabilities

Title: How Do Countries Measure, Manage, and Monitor Fiscal Risks Generated by Public-Private Partnerships? Chile, Peru, South Africa, Turkey
Series: World Bank Policy Research Working Paper, No. WPS7041
Author/Editor: Aslan, Cigdem and David Duarte
Published: Septmber 2014

Title: Risk Management of Contingent Liabilities within a Sovereign Asset-Liability Framework
Author/Editor: Currie, Elizabeth and Antonio Velandia-Rubiano
Published: February 2002

Title: The Potential Role of Government Debt Management Offices in Monitoring and Managing Contingent Liabilities
Author/Editor: Currie, Elizabeth
Published: January 2002

Title: Government Debt Management: New Trends and Challenges, “Management of Contingent Liabilities"
Author/Editor: Currie, Elizabeth and Jorge Cardona;  Mike Williams (ed.)
Published: 2006, Central Banking Publications: London

 

Additional References

Operational Risk

Title: Guidance for Operational Risk Management in Government Debt Management
Author/Editor: Magnusson, Tomas, Adha Prasad and Ian Storkey
Published: March 2010

 

Domestic Debt Market Development

Title: Developing the Domestic Government Debt Market: From Diagnostics to Reform Implementation
Published: 2007, World Bank

Title: Case Study: Sovereign Debt Management Cash Management, & Domestic Market Development in Malawi
Published: 2000, World Bank, Macroeconomic and Financial Management Institute of Eastern and Southern Africa, and the South African Debt Office

Title: Case Study: Public Debt Management, Cash Management, and Domestic Debt Market Development in Tanzania
Published: June 2001, World Bank, Macroeconomic and Financial Management Institute of Eastern and Southern Africa

Title: Foreign investment in local currency bonds - considerations for emerging market public debt managers
Author: Sienaert, Alex
Series: World Bank Policy Research Working Paper, No. WPS6284
Published: November 2012

Title: Retail Government Debt Programmes: Practices and Challenges
Author/Editor: Krupa, Bozena, Eriko Togo and Antonio Velandia-Rubiano
Published: 2007, Euromoney International Debt Capital Markets Handbook 2007

Title: Developing Government Bond Markets: A Handbook
Published: 2001, IFC/World Bank Capital Markets Advisory Group and International Monetary Fund

 

   


Useful Links

Sovereign Debt Management Offices

Multilateral and Regional Organizations