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How to Develop A Framework for the Investment of Temporary Government Cash Surpluses
Author:
Israel Fainboim Yaker
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Mr. Sandeep Saxena
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Michael J. Williams null

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Series:
IMF How To Notes
Volume/Issue:
Volume 2020: Issue 003
Language:
English
Publication Date:
21 Dec 2020
DOI:
https://doi.org/10.5089/9781513563824.061
ISBN:
9781513563824
ISSN:
2522-7912
Pages:
25
Keywords:
FADHTN; HTN; cash manager; surplus cash; cash surplus; cash balance; reverse repo; liquidity risk; cash buffer; market risk; debt management; market liquidity; Currencies; Government cash management; Government cash forecasting; Money markets; Credit risk; Global; Africa
Legal-disclaimer:
Fiscal Affairs Department (FAD) How to Notes offer practical advice from IMF staff members to policymakers on important fiscal issues. The views expressed in FAD How to Notes are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Well-developed cash management aims to improve government operational efficiency and facilitates better service delivery by ensuring liquidity to meet payment obligations as they fall due. Liquidity, however, comes at a cost. Governments can reduce the cost of maintaining liquidity by proactively managing their cash balance at an appropriate level and prudently investing any excess liquidity. This note discusses the policy framework and processes that governments should put in place to identify, guide, and govern the investment of their surplus cash resources.
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IMF How To Notes
ISSN:
2522-7912
Publisher:
International Monetary Fund