Public debt management


OECD Sovereign Borrowing Outlook 2019

The OECD Sovereign Borrowing Outlook provides regular updates on trends and developments associated with sovereign borrowing requirements, funding strategies, market infrastructure and debt levels from the perspective of public debt managers. The Outlook makes a policy distinction between funding strategy and borrowing requirements. The central government marketable gross borrowing needs, or requirements, are calculated on the basis of budget deficits and redemptions. The funding strategy entails decisions on how borrowing needs are going to be financed using different instruments and which distribution channels are being used. This edition provides data, information and background on sovereign borrowing needs and discusses funding strategies and debt management policies for the OECD area and country groupings. In particular, it examines: gross borrowing requirements; net borrowing requirements; central government marketable debt; interactions between fiscal policy, public debt management and monetary policy; funding strategies, procedures and instruments; liquidity in secondary markets; and changes in the investor base.

Published on April 23, 2019

view previous editions


Abbreviations and acronyms
Executive summary
Sovereign borrowing outlook for OECD countries
Understanding investor demand for government securities
Public debt management under stressed market conditions: A review of the recent experiences of Greece, Iceland, Ireland and Portugal
OECD 2018 Survey on Primary Markets Developments
OECD 2018 Survey on Liquidity in Government Bond Secondary Markets
Powered by OECD iLibrary