High-quality public debt management plays a critical role in
reducing the vulnerability of developing countries to financial crises.
With sound risk and cash management, effective coordination with fiscal
and monetary policy, good governance, and adequate institutional and
staff capacity in place, governments can develop and implement
effective medium-term debt management strategies.
Managing Public Debt: From Diagnostics to Reform
Implementation draws insights from a joint pilot program set up by
the World Bank and International Monetary Fund to design relevant
reform and capacity-building programs in twelve countries. The
experiences of these geographically and economically diverse
countries—Bulgaria, Colombia, Costa Rica, Croatia, Indonesia,
Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and
Zambia—illustrate the challenges and elements necessary to make
progress in the area of public debt management.
Managing Public Debt will serve government officials
contemplating or in the process of reforming their practices, providers
of technical assistance, and practitioners working on building capacity
in public debt management. Because effective implementation of debt
management strategies also requires a developed domestic government
debt market, readers will also be interested in the companion volume,
Developing the Domestic Government Debt Market, published by The
World Bank in February 2007, based on the same joint pilot program.
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