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7 Autonomous Sovereign Debt Management Experience

7 Autonomous Sovereign Debt Management Experience »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

Numerous governance and structures are possible for sovereign debt management agencies. While each has its own strengths, a number of common characteristics run through many of them. This paper discusses the...

9 Central Bank Reserves Management

9 Central Bank Reserves Management »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

This paper opens discussion of the second part of the subject matter of the conference, namely asset management for sovereigns. Previous papers have concentrated on liability management, and have necessarily...

Comments on de Fontenay and Jorion

Comments on de Fontenay and Jorion »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

“Foreign Currency Liabilities in Debt Management” addresses two main issues. First, how much foreign currency debt a country should have (if any). And second, if a country has foreign currency debt, what its...

Comments on Dooley

Comments on Dooley »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

The paper by Michael Dooley provides a useful overview of the theory of sovereign asset and liability management (ALM). Countries face a wide menu of choices for their debt. At the most basic level, their ch...

13 Credit Costs and Borrowing Capacity in Debt Optimization

13 Credit Costs and Borrowing Capacity in Debt Optimization »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

Impact of Credit on Borrowing Decisions In recent years, volatility in the Japanese yen exchange rate has focused attention on the risk implicit in the level of yen borrowing for man...

3 Debt and Asset Management and Financial Crises: Sellers Beware

3 Debt and Asset Management and Financial Crises: Sellers Beware »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

The analytical framework presented below suggests that there may be good reasons for most governments to follow the ultra-conservative debt management strategy observed in industrial countries. Further resea...

12 Foreign Borrowing by the Kingdom of Denmark

12 Foreign Borrowing by the Kingdom of Denmark »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

General Framework The main objective of Danish net borrowing in foreign currencies is to ensure adequate foreign exchange reserves. When the Kingdom of Denmark issues foreign debt, t...

4 Foreign Currency Liabilities in Debt Management

4 Foreign Currency Liabilities in Debt Management »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

For governments (or firms) that borrow, as most do, whether to issue foreign currency denominated debt, how much, and in which currencies seem to be separate decisions, subject to different considerations. I...

1 Introduction

1 Introduction »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

The papers contained in this volume were presented at a conference entitled “Sovereign Assets and Liabilities Management” hosted by the International Monetary Fund and the Hong Kong Monetary Authority in Hon...

6 Management of Risks in Foreign Currency Funding and Debt Management

6 Management of Risks in Foreign Currency Funding and Debt Management »

Source: Sovereign Assets and Liabilities Management

Series: Books

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2000

ISBN: 9781557756947

Keywords: debt, debt management, public debt, interest, central bank

The Kingdom of Sweden is represented in international capital markets by the Swedish National Debt Office, often referred to as the SNDO. The SNDO is a government authority reporting to the Ministry of Finan...