Sound Practice in G

ebt M anagem ent Government debt management, dating back more than twocenturies in some European countries, has received increasing attention and resources since the late 1980s. A particular impetus to this trend has been the realization that government debt man-agement can significantly reduce the government’s balance sheet risk and the economy’s vulnerability to economic and financial shocks. It also can assist the development of domestic financial markets and strengthen the governance and financial management practices in the public sector. In 2001, the World Bank and the International Monetary Fund produced the Guidelines for Public Debt Management and an Accompanying Document of Case Studies to assist countries in strengthening the quality of their government debt management and in reducing their vulnerability to international financial shocks. Complementing these publications, this book develops a strong conceptual and analytical framework for government debt manage-ment. It presents ideas and management insights that can assist policy makers and advisers in implementing sound practice in government debt management. ISBN 0-8213-5073-0 Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz ed Pu bl ic Di sc lo su re A ut ho riz e