Latest Documents

31st OECD Global Forum on Public Debt Management

31st OECD Global Forum on Public Debt Management

OECD Sovereign Borrowing Outlook 2023

Forum Mondial de l'OCDE sur la Gestion de la Dette Publique

22-23 mai 2023 - Le forum de cette année se concentrera sur les défis et les opportunités pour les gestionnaires de la dette publique dans le contexte actuel de tensions géopolitiques, de normalisation de la politique monétaire et de besoins d'emprunt élevés

The rise in public debt caused by the COVID-19 crisis and the related challenges

27 May 2021- All across the world, the COVID-19 pandemic has given rise to exceptional needs for government spending while at the same time reducing tax revenues. The result is an increase in public debt almost everywhere. This statement by the OECD Secretary-General describes responses to date and proposes options for the future.

Responding to COVID-19 challenges: Cash buffers for a rainy day

8 April 2020 - The coronavirus (COVID-19) pandemic is posing many challenges for the economy and public financial management systems. Yasemin Hurcan, Fatos Koc and Emre Balibek talk about how "cash buffers" can help governments mitigate short-term liquidity needs.

The liquidity buffer practices of public debt managers in OECD countries

This paper summarises and discusses results from a survey of the liquidity buffer practices of debt managers in OECD countries. It includes detailed information on their purpose, cost, level and investment. While the level, investment, transparency and other governance features vary, the survey results show that keeping a liquidity buffer is a common practice among debt management offices in OECD countries.

The role of public debt managers in contingent liability management

This working paper explores the role of public debt managers in contingent liability management based on the results of a background OECD survey and the information provided by seven task force countries. The results indicate that there are certain roles and responsibilities assumed by the public debt managers in this field, while the degree of involvement differs widely across countries.

Assessing the cost effectiveness of index-linked bond issuance

Sovereign index-linked bond issuance has grown significantly since the early 1980s and index-linked bonds have become a widely accepted part of the set of instruments that sovereign debt managers use for funding purposes. This paper sets out a methodology for assessing their cost effectiveness relative to other financing options, using UK examples for illustration.

Government Debt Management and Operational Risk: A Risk Management Framework and its Application in Turkey

The management of operational risk is at the heart of efficient government, but countries often fail to apply good or even routine operational risk management practices and have difficulty in understanding how to put the processes in place. This paper sets out a widely-applicable and relevant policy approach and management framework and illustrates its practical application in Turkey.

Interactions between Sovereign Debt Management and Monetary Policy under Fiscal Dominance and Financial Instability, OECD Working Paper on Sovereign Borrowing and Public Debt Management, No.3

This paper argues that serious fiscal vulnerabilities arising from many years of high government debt will create new and complex interactions between public debt management and monetary policy.