public debt management pdf

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the public debt management issue or practice, e.g. h��V[k�0�+zl�$۲d(�\Z��h�:��&^bp��c��;�XR�4�� �=|�tt.���/��0��̘��ƑH�1|#&� -;?�� �(�7��씏�a�C=�,�z �ϣ�h3wf"����xS��L�F���Gw���]ʢZl��^o�/��A�-@0A�����n��H�0��(��eZ�|TtKgq���ʗ[GTr0�������5 ! 109 0 obj <> endobj �U�������{Z�]��:��}��:9�:9�Y�@���p��}U�s�1��L� M*���hBQ(�L&$�NW���zJ�=�HM������_Ŵ�-�m�2��'e� What are the objectives of public debt management?
181 0 obj <>stream Further reforms on public debt management are needed to promote efficiency, further develop the capital market and enhance overall financial stability. ]��B��n�d`\� e쁋�00�n���0 l�(� h�bbd``b`}@��;�`I1 �2��$��g`bd�R����`��OvD��n� 0 �2 � b��@�E��N��o"҆+ŔJ �d,M��� `S&�|a��\�[�����RHE�ZAs)�� �S �ډ _�S���qv�%�ύvG�����x�P#$������5a���)���8�1`�}� b���/�y��x��O0��_���eSw�>������M�n�٭��s�1�ז��6�"|�L%�Su̥�/�;�8U�܅��=i�›�������աO�e�3^j[| aW����.�3�!��Ҽ��:=����5��Ҽ��g�M�xSZ��*��mu5���Xl�D';]E��?&����]�iu����r�؏�W����ս �E;=�@��ˢ ��@����|P��'2Ÿ厾�|��:�NE���n}5����ſ��� ��o��+�.8�wC����O���K� j�� Coordinating Public Debt Management with Fiscal and Monetary Policies: An Analytical Framework 1. endstream endobj startxref ���-���Z��I>�8��X��*�a���ɴ�ͅ�Kwl4���){��B�2֨ʂ�T��eݤ�n�ϩ.���7|G�Oϸ�� a��i؎s�E� rZ�s�*IM.�(�V&�!���@/UV��V�ҡ��=�H_��G�x;t��>�6N�,�Kzڜ�ԯBLx��S1Rm�Gn-ɑx�a2�b�]��7�nG�Q�+�S6� K;�B��b�g�{��;��t�'^�;{��()3��C��P ��g�SS��n�WG�E�L0��h�AU��� ?~c^��6�. The second part on auditing is structured uniformly across … an immediate concern. H��W[o�6�+�QZD�HI�4( 0

Keywords: Fiscal policy, public debt management…

(��V����O�M�W�d������ nڦh�+~�i�yE�ۮp"�l���eU0�o�b���'���"���o7 �j�*��z����j���mY��m���ٶ�U�@�ݤtmx�s�)�o�Z$0i Al­ though strong assumptions are needed to ensure neutrality of public debt management it is nevertheless of interest to study it, since an analysis il­ luminates the mechanisms through which public debt management … 1. �:�m��֠���܊��s�6�#j��Ԥ;��!�hR����K�Qp܊\���/]5�i��jg�C��9�*�x�l�Cƿ�#؏������%5Ur!�i�$'�X�N� l{�Z���M�5�(��ԣ�W�s‡9$���M'���w��:�0z�E/�F2����;��Y���t��h��c�ŇԸ��z�i��\� %%EOF The choice of currency denomination, indexation, and maturity structure of public debt is an increasingly important aspect of policy in a world of high debts and and financially integrated markets. when public debt management does not matter, i.e., when it is neutral. h�b```����� �af`a�� �V ���5��Fܲ\Sxڹ�y#4Ĺ�3��30062���j �f�4c���u6�6l��`kh�`hh �@��� @;��i f��;7��MMǾ�x�@��b ��/H[00. Finance the government and meet servicing obligations 2. debt management strategy and the second part explains how to audit the issue or practice. ]9|����5�o�T�,�h�i��Z� hK�=�\����>��o�q3��j����#d���V����g���x0����z� Minimize cost butsubject to containing risks over the medium/long term 3. Introduction There is growing consensus that public debt management should be integrated into a … endstream endobj 113 0 obj <>stream
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